China became the world’s second largest economy in 2009, passing Japan, which has held this distinction for decades. The People’s Republic raised its growth forecast for 2008 to 9.6% from 9% which took the total…
The Brookings Institution, The New York Times, and Bloomberg all covered the news that Texas added more people than any other state between July of 2008 and this past July, 479,000 according to the…
Treasury Secretary Geithner, who many members of Congress would like to see out of his job, yesterday said that tight credit could derail the nascent economic recovery. “Right now, the real risk we face…
The Commerce Department revised GDP growth for the third quarter of this year down, again. The latest number is an increase of 2.2%. A month ago the number was dropped to 2.8% from the…
Ben Bernanke may be Time Magazine’s person of the year. But today Bernanke was listed as the market watchdog of the day because the FOMC voted to keep rates steady at the same 0.00%…
Moody’s (NYSE:MCO) made comments about its ratings on US and UK sovereign debt that were meant to calm the markets. Early in the week the credit agency said that one or both countries could…
Today at noon the Federal Reserve released its Flow of Funds Account report. In the third quarter, U.S. debt growth grew at its slowest pace on record. Overall debt grew by 2.8%. That number is…
The U.S. trade deficit decreased $2.7 billion $32.9 billion in October as a result of exports growing more than imports. Exports grew $3.4 billion while imports grew $745 million. Gains in exports were led…
By John Tamny of Forbes With the federal government’s measure of unemployment in the double digits, President Obama has unsurprisingly moved job creation to the top of his list of initiatives. And while his…
Many Indian tribes have creates substantial businesses by building casinos on their land. The income from these operations is largely exempt from taxes. The casino business has been hit hard by the recession, especially…
Washington has looked at the idea of taxing the rich to help pay for the healthcare reform package. The UK is taxing well-to-do bankers taking 50% of their 2009 bonuses above a threshold of…
Treasury Secretary Geithner has told Congress he will extend the existence of the TARP program through next October, but it is not clear that every member of the House and Senate will share his goals for the fund,…
The numbers on the sharp GDP improvement in the Japanese economy for the third quarter were not correct. The Japanese government says that they were not even close. Originally, the data showed the economy…
There is still a place in the world of economists where the Tooth Fairy visits. It is where those who believe unemployment is about to improve, consumers will have access to growing amounts of credit that…
Sovereign debt problems in Dubai, Ireland, and Iceland have forced the credit rating agencies to keep a sharp eye on national debt. There have been some warnings that high deficits in the UK might…