The States Taxing the Poor Most
In an effort to help families work their way out of poverty, most of the United States do not tax the incomes of working-poor families. A handful of states do, however. 24/7 Wall St.…
All Work
Douglas A. McIntyre
Sony’s New and Better Plan?
Another new fiscal year, another new strategic plan. Sony (NYSE: SNE) has a new chief executive, and he means to prove that the collapse of the company is only temporary. The description of the firm’s…
Foreclosures at Five-Year Low: A False Positive
RealtyTrac, which puts out one of the most closely followed reports on national home foreclosures, said the rate of foreclosures reached the lowest level in 56 months during March. The first-quarter total was the…
A Better U.S. Economic Outlook
The U.S. economy is getting better, according to Gallup. Gallup’s key U.S. economic indicators tell a consistent story of improving economic and behavioral conditions. Americans’ self-reported employment status, personal spending and workplace hiring trends…
What’s Important in the Financial World (4/12/2012) China Slowdown, EU Production, Italian Bond Yields
Italian bond yields rose to their highest levels since January as capital markets investors continued to express worry that more EU nations have set austerity plans that will not close budget deficits. The victim…
Media Digest (4/12/2012) Reuters, WSJ, NYTimes, FT, Bloomberg
Sony (NYSE: SNE) says it will eliminate 10,000 jobs and retool the company for growth. (Reuters) Exports from Japan improve. (Reuters) The Fed’s Beige Book reports concern about energy costs. (Reuters) The World Bank expects…
World Bank Shows Slowing China
China’s growth will be slower than believe just a few months ago, according to the World Bank: A new World Bank report projects GDP growth in China will be 8.2 percent in 2012 and…
Euro Area Industrial Production Trouble
nationsonline.orgIndustrial production, a key measure of economic health, is still poor in the 17 euro area nations. Eurostat reports that seasonally adjusted industrial production grew by 0.5% in February compared to January. However, year-over-year,…
International Energy Agency Oil Supply Improvement
The International Energy Agency reported good news about supplies. Global oil inventories were boosted by as much as 1.2 million barrels a day in the first quarter as production from members of the Organization…
Italy Bond Yields Up, Worry About Portugal Rises
Italian bond yields rose to their highest levels since January as capital markets investors continued to express worry that more EU nations have set austerity plans which will not work to close budget deficits.…
Huge 8.6 Magnitude Quake Hits Indonesia, Tsunami Warnings
A huge 8.6 magnitude earthquake hit off the coast of Indonesia at April 11, 2012 at 08:38:37 UTC. The epicenter was 269 miles SW of Banda Aceh, Sumatra, Indonesia The Tsunami Warning Center issued…
America’s Worst States for Fraud
When times are hard, fraud often gets worse. Americans are under great financial pressure, and there is no shortage of criminals waiting to take advantage of it. According to the most recent report published…
Why No One Wants to Be a Lumberjack
Americans do not want to be news reporters, broadcasters, waitresses, soldiers, dishwashers, dairy farmers or oil rig workers. Most of all , they do not want to be lumberjacks. That is according to new…
Spain Tries to Save Itself as Prospects Slip Away
Prime Minister Mariano Rajoy said high bond yields may kill any chance that government-driven austerity measures can cut deficits enough for the nation to finance its own needs. At about the same time he made the…
India and U.S. Small Business Worry About Oil Prices
Economists continue to look for the tipping point at which oil prices begin to undermine gross domestic product. They got two more hints today. Each was from an entirely difference source, which makes them all the more…
What’s Important in the Financial World? (4/11/2012) Tablet Sales Surge, Broken Nokia Phone
Household debt combined with falling home prices have been more toxic to the economy than previously believed. This is not just true in the United States, according to new IMF data. The problem applies…
Media Digest (4/11/2012) Reuters, WSJ, NYT, FT, Bloomberg
Spain’s industrial production falls 5.1% on an annual basis in February. (MarketWatch) U.S. brokerage firms pay increasingly higher bonuses to get top producers. (Reuters) Alcoa (NYSE: AA) has a surprising first-quarter profit. (Reuters) Travelzoo (NASDAQ:…
IMF Turns Negative On Economy
Government policies aimed at reducing a household’s debt relative to its assets—and its debt service payments relative to its income—could be an inexpensive way to mitigate the negative effects of household deleveraging on economic…
New Nokia Lumia Has Major Flaw
NokiaTroubled handset maker Nokia (NYSE: NOK) cannot get a break. Its alliance with Microsoft (NASDAQ: MSFT) was supposed to allow it to produce attractive new smartphones meant to help it claw back share from…
China’s Car Market Loses Promise
China is supposed to be the market which gets the global car industry back on its feet after the losses caused by three years of recession. The China market, which produced 18 million car…