200901.31
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Market Week in Review

President Obama, like so many in the Democratic party, idolizes Franklin Roosevelt. He has called for a new New Deal, portions of which are passing through the pork grinder called Congress and spent most of his campaign playing class warrior. In perfect Rooseveltian fashion, he spent the last week tongue lashing Wall Street over their pay…

200901.30
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Economic Report: 4th Quarter US GDP Report

Update: GDP Revised Lower According to the Bureau of Economic Analysis, US gross domestic product- the output of goods and services produced by labor and property located in the United States – expanded by 1.3% for all of 2008, the weakest rate of economic growth since 2001. For the latest quarter, GDP fell 3.8%, after a contraction of 0.5% in…

200901.29
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Economists Against Stimulus

President Obama: “There is no disagreement that we need action by our government, a recovery plan that will help jumpstart the economy.”  “With all due respect, Mr. President, that is not true.” Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the…

200901.29
3
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The Height of Irresponsibility

President Obama today: “When I saw an article today that indicates that Wall Street bankers had given themselves $20 billion worth of bonuses, the same amount of bonuses as they gave themselves in 2004, at a time when most of these institutions are teetering on collapse and they are asking for taxpayers to help sustain…

200901.29
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Corporate Tax Rates By Country – OECD

The Organization for Economic Co-operation and Development (OECD) is an international organization of 30 countries that accept the principles of a free-market economy. Most OECD members are high-income economies and are regarded as developed countries. The organization publishes research and statistics on a wide variety of subjects, including analysis and forecasts on economic developments and trends, research on social changes…

200901.29
3
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Economic Report: New Home Sales

Sales of new homes in the US declined to their lowest levels in 46 years, after a lackluster December in which sales fell by a stomach-wrenching 14.7%. Sales fell to a seasonally adjusted annual rate of 331,000, the lowest ever since the series began in 1963. The report was far below expectations, as economists were predicting a number closer to 390,000. The government estimates that…

200901.29
3
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Economic Report: Durable Goods Orders

Orders for US-made durable goods plunged once again in December, ending a downright awful 4th quarter where new orders plummeted 4.9% on average. December was slightly better, as orders were down only 2.6%, according to the Commerce Department’s monthly M3 Report. It is the fifth straight monthly decline, and was pushed lower by weaker demand for pretty much everything except defense-related items….

200901.29
3
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Economic Report: Initial Jobless Claims

The number of people filing for first time unemployment benefits was higher in the latest week, following massive spikes during the first part of the new year. This comes after witnessing tempered declines during the holiday-shortened weeks, according to the US Department of Labor. For the week ending January 24th, initial jobless claims stood at 588,000, an increase of 3,000 from the previous downwardly-revised reading…