Reid Rules out Spending Cuts if More Revenue is Not Raised through Taxes

Feb 26 2013 @ 08:58
Senate Majority Leader, Harry Reid (D-Nevada), earlier this month reiterated that any new budget deal, aimed at averting  series of draconian spending cuts or sequester—which is scheduled to come into effect from March 1— would have to include additional revenue through taxes.

Obama hails “renewed” economic confidence

Feb 13 2013 @ 05:34
President uses State of the Union address to economic growth Barack Obama has called for action to “reignite” the US economy. During his annual State of the Union address to both houses of congress, the President argued that the country had “cleared away the rubble of crisis, and we can say with renewed confidence that […]

Black Swan New Year Letter 2013: China to recover, US to recover, Europe Doomed

Feb 13 2013 @ 05:04
This is the annual letter sent out by my friend Richard Poulden. This year – as every year – we wil hold a 10 minute debate at the UKInvestor Show – I am not sure of the subject matter yet but it is always sparky. I am not sure that I agree 100% on China […]

US adds jobs as Dow surges

Feb 02 2013 @ 18:21
157,000 jobs created in January as Dow Jones passes 14,000. The US economy added 157,000 jobs during January, figures released on Friday reveal. Coming soon after the news that the national economy contracted by 0.1% in 2012 and on the day that the Dow Jones Industrial Average index passed 14,000, the job figures have added […]

Business Leaders Warn Cameron Over EU

Jan 13 2013 @ 15:42
Virgin Group Chairman Sir Richard Branson and WPP CEO Sir Martin Sorrell back UK Membership of the European Union UK business leaders have signed a letter warning Prime Minister David Cameron from seeking a whole renegotiation of the country’s membership of the European Union (EU). Supported by Virgin Group Chairman Sir Richard Branson, BT Group […]

Obama: Debt Ceiling Failure would be “Catastrophic”

Jan 06 2013 @ 09:43
President Barack Obama has said that failure by the United States government to reach an agreement on further raising the nation’s debt ceiling would lead to “catastrophic consequences”. The Democratic president faces the challenge of reaching an agreement with Republican majority in the House of Representatives, with the Unites States Senate currently under Democratic control, but […]

US Budget Governance “Less Stable”

Jan 03 2013 @ 07:48
Ratings agency Standard and Poor’s has called for the US government to address its budget problems following a temporary agreement over the “fiscal cliff”. Arguing that “Washington’s governance and policymaking had become less stable” Standard and Poor’s cited recent events as demonstrating that current budget governance was “less stable, less effective and less predictable”. The […]

Fiscal Cliff Prestidigitation

Jan 02 2013 @ 18:41
Now you see it.  Now you don’t.  You’ve watched it for months.  Now, suddenly it’s gone.  Where did it go?  No one knows.  How did President Obama and the US Congress do that?  The simple answer is sleight-of-hand prestidigitation. Please don’t misunderstand.  The magic was not in making the Fiscal Cliff disappear.  The magic was […]

Yen Falls as Fiscal Cliff Averted

Jan 02 2013 @ 10:48
The Japanese yen fell to an 18-month low against the euro after the US House of Representatives voted in favour of measures to avert a series of tax-rises and spending cuts, known collectively as the fiscal cliff. After the vote was announced the euro soon rose to 115.995 yen. This was followed by the USD […]

Fiscal cliff talks ongoing

Dec 11 2012 @ 12:53
Fiscal cliff talks between US President Barack Obama and Republican House speaker John Boehner, have been continuing both sides have said. With the end of year deadline looming, both parties are under pressure to ensure an agreement is reached. Deep spending cuts and tax rises due to take effect on 1 January, threaten to halt […]
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