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1:54 PM EDT 9/7/2011
Changes To Inflation Formula Will Clip Social Security Benefits, Study SaysTwo of the high-level commissions asked to develop budget-balancing strategies proposed what seemed to be a technical change in calculating Social Security benefits -- swapping out the general CPI-U, which we know as the headline measure of inflation, in favor of C-CPI-U (the extra C is for "cha...
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11:07 AM EDT 9/5/2011
IMF Head: "Easy On The Austerity"On Monday, Labor Day in the U.S., a day set aside to celebrate work, the world stock markets sold off big time (four to five percent at 11am Eastern time), a reaction surely related to the pitiful U.S. employment report Friday. And in the German newspaper Der Spiegel (it means "the mirror") ran ...
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11:06 AM EDT 9/2/2011
U.S. Employment, And Global Manufacturing, Stuck At ZeroBecause August is a month of vacations for much of the developed world, so it's probably not the most robust indicator of economic health. But this week's reports on industrial production and U.S. employment are approximating zero -- like a pendulum pausing at the end of its swing, or an extreme...
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5:00 PM EDT 8/30/2011
Some Consumers Are Very ConfidentThis week has dealt us conflicting reports on retail sales and consumer attitudes. Yesterday's report from the Commerce Department on consumer spending told of a strong increase, some voluntary, some not: Purchases rose 0.8 percent, the biggest gain since February, after a 0.1 percent decline t...
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12:06 PM EDT 8/28/2011
Fed's September Meeting: Rounding Up Twice The Usual Number Of SuspectsOn Friday, Fed Chairman Ben Bernanke made an eagerly anticipated speech at the annual Kansas City Fed gala at Jackson Hole, Wyoming. His talk was closely reported, too, but he really said little about what the Fed could or might do to charge up the economy. One point that got great attention, th...
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11:50 AM EDT 8/24/2011
The Need For QE3: How The Experts Line UpJudging from the action in stock prices this week, investors are expecting another announcement of easy and huge monetary policy on Friday, when Fed chairman Ben Bernanke speaks to the bank's annual economic conclave at Jackson Hole, Wyoming. It was during the corresponding speech last year th...
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9:02 AM EDT 8/22/2011
Employer Survey Says 2012 Pay Raises Will Rise - A BitLarge employers are going to loosen the purse strings a little in 2012, and expect to grant pay increases averaging 2.8 percent to salaried, nonexecutive employees. The forecast comes from Towers Watson, a global consulting firm, that surveyed 773 U.S. companies. The 2.8 percent increase is a small ...
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12:33 PM EDT 8/17/2011
European Leaders Working Out Plans To Balance Support Weak Countries, And Costs To The StrongEuropean leaders have been working together to formulate a plan to lift the burden of debt from the fringe countries of Greece, Portugal and Ireland, but the financial markets are not responding well, indicating the measures may not be going far enough. Troubles in Europe are not just an abst...
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11:01 AM EDT 8/12/2011
Double Dip: Lessons From 1937I commend to you a great article in today's New York Times, written by the excellent James Stewart, which compares the current stall in the economy to 1937 (my own modest attempt drew a great fanfare last week). It's great history lesson, for the parallels between then and today, and the tact...
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12:25 PM EDT 8/12/2011
Commodities Prices Shoot Up On Bleak U.S. Crop ForecastsHot weather and low rainfall is sending grain prices higher, which will translate into higher food prices generally, says the USDA in its latest and carefully-watched World Agricultural Supply and Demand Estimates, released yesterday. Corn prices were up the 30 cent limit yesterday, to $7.18 a b...
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