What are your thoughts on this one? Fox News aired a segment suggesting the federal government lower the minimum wage to help workers and the economy. I’m not too sure this is something that would be called for during the economic times we are currently in.
White House senior adviser Valerie Jarrett was adamant on Sunday, when asked if President Obama was considering a so-called second stimulus to deal with the rising unemployment rate. “I think it’s too soon. It’s premature to say, ‘Is a second stimulus needed?’ ” she told David Gregory, the host of NBC’s Meet the Press.
But a moment later she said the White House was already looking at tax credits and other measures to further stimulate the economy. “There are a range of suggestions that are being considered right now by his economic team, and we’ll see what we come forward with,” she added. Read the full story
WASHINGTON — The number of idled Americans filing new claims for jobless benefits fell last week, a hopeful sign for a weakened labor market. Read the full story
The United Nations called on Tuesday for a new global reserve currency to end dollar supremacy which has allowed the United States the “privilege” of building a huge trade deficit.“Important progress in managing imbalances can be made by reducing the reserve currency country?s ‘privilege’ to run external deficits in order to provide international liquidity,” UN undersecretary-general for economic and social affairs, Sha Zukang, said. Read the full story
In a graphic illustration of the new world order, Arab states have launched secret moves with China, Russia and France to stop using the US currency for oil trading Read the full story
WASHINGTON — The inspector general who oversees the government’s bailout of the banking system is criticizing the Treasury Department for some misleading public statements last fall and raising the possibility that it had unfairly disbursed money to the biggest banks. Read the full story
PITTSBURGH (Reuters) – The Group of 20 is set to become the premier coordinating body on global economic issues, reflecting a new world economic order in which emerging market countries like China are much more relevant, according to a draft communique. Read the full story
Most of us, and all of us most of the time, deal with the market economy as a definite type of economic order, a sort of “economic technique” as opposed to the socialist “technique.” For this view, it is significant that we call its constructional principle the “price mechanism.” Here we move in the world of prices, of markets, of supply and demand, of competition, of wage rates, of interest rates, of exchange rates, and what not.
That is, of course, right and proper — as far as it goes. But there is a great danger of overlooking an important fact: the market economy as an economic order must be correlated to a certain structure of society, and to a definite mental climate which is appropriate to it.
FRANCE today led a walkout of delegations, including Australia, to protest a fiery speech by Iranian President Mahmoud Ahmadinejad to the UN General Assembly. Read the full story
WASHINGTON (Reuters) – The U.S. Federal Reserve is expected to take note of an improving economy at the close of a meeting on Wednesday, while cautioning that high unemployment puts the recovery at risk. Read the full story
Dealers add other incentives in bid to entice buyers
It has been nearly a month since the car-buying frenzy of the Cash for Clunkers program ended, and many area auto dealers are longing for the good old days of July and August. Read the full story
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