Your daily Economy dose!
Today’s Daily Angle comes from Wikinvest Wire member Kathy Lien of KathyLien.com and FX360.com. You can read the full article on her blog . Flash Player 9 or higher is required to view the chart Click here to download Flash Player now View the full FOREX:GBPUSD chart at Wikinvest Over the past few trading days, the British pound has been confined to a very tight trading range.
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Down with the Pound
From the Las Vegas Sun: Short sales soar while foreclosure sales slacken (ht sportsfan) Short sales averaged about 7 percent to 8 percent of total [Las Vegas] existing-home closings in early 2009, but averaged 22 percent of the market by the end of the year and in early January … “We have seen a decrease in foreclosure activity in Las Vegas, which was puzzling to us,” said Daren Bloomquist, marketing manager for California-based RealtyTrac, which monitors foreclosures in Nevada
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"Short Sales Soar"
Rep. Paul Ryan Conservative Republican Paul Ryan’s response to Obama’s new 2010 budget
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Paul Ryan declares war on Obama’s record 1.56 trillion dollar budget deficit
As part of the annual budget, the Obama Administration released the underlying economic assumptions too (see Page 13 of PDF) For GDP, they are forecasting real GDP growth of 2.7% in 2010, followed by 3.8%, 4.3% and 4.2% in 2013.
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Obama Administration Unemployment Forecast
Buy gold bullion coins or bars ‘for investment’ > Gold News > World Gold Council, the information resource for gold, investment, jewellery, science and technology, historical and culture …
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Buy gold bullion coins or bars 'for investment' > Gold News …
Have you all heard of Phillip E. Johnson, the UC Berkeley professor who is the father of the intelligent design movement?
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Phillip E. Johnson lectures on science and the pre-supposition of materialism
VeteranOwnedBusiness.com is proud to welcome Vetmade Industries, Inc. of Tampa , Florida ( Hillsborough County FL ) to the Veteran Owned Business Directory Non Profit Section .
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VeteranOwnedBusiness.com Welcomes Non Profit Vetmade Industries, Inc.
Public school teachers have filed a class action lawsuit against The Variable Annuity Life Insurance Co., known as VALIC, according to a recent article in InvestmentNews by Darla Mercado. The teachers are suing on behalf of all individuals who bought a VALIC deferred annuity after Jan.
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Teachers Sue to Recover Variable Annuity Losses
More from the Q4 GDP underlying detail tables … Note: Residential investment (RI), according to the Bureau of Economic Analysis (BEA), includes new single family structures, multifamily structures, home improvement, broker’s commissions, and a few minor categories. Back in Q4 2008 – for the first time ever – investment in home improvements exceeded investment in new single family structures
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Residential Investment Components in Q4
January 2010’s website stats for VeteranOwnedBusiness.com are now completed. We are very happy to announce that traffic continues to exceed our wildest expectations. January’s page view numbers reached nearly a half a million pages viewed. Here are January’s numbers (rounded): 35,000+ = Site visitors in January 2010 460,000+ = Page views in January 2010 13+ = Number of pages viewed on average per visitor 12,000+ = Number of unique search terms used to find VeteranOwnedBusiness.com in various search engines 350,000+ = Total number of all pages in VeteranOwnedBusiness.com 22+ Minutes = Average time on site We’d like to thank the thousands of websites out there who have taken the time to link their websites to VeteranOwnedBusiness.com. It’s partially because of these great veteran owned business supporters that our daily visitor numbers continue to rise.
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January 2010 Website Statistics for the Veteran Owned Business Directory
Jeff Frankel has a piece on what Chile can teach the rest of the world here . The Irish fiscal debate could usefully move in this direction. The piece is also relevant to the thread below on economic expertise, and to broader debates about whether technical expertise in general is useful to policy making, and is sufficiently appreciated and availed of in Ireland
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Chilean lessons
From the Fed: The January 2009 Senior Loan Officer Opinion Survey on Bank Lending Practices The January survey indicated that commercial banks generally ceased tightening standards on many loan types in the fourth quarter of last year but have yet to unwind the considerable tightening that has occurred over the past two years. The net percentages of banks reporting tighter loan terms continued to trend lower. Banks reported that loan demand from both businesses and households weakened further , on net, over the survey period
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Fed: Banks Cease Tightening Standards, Loan Demand Weakens Further
Dean Baker TPM Café, February 1, 2010 Truthout, February 1, 2010 See article on original website Our political leaders continually assert that we should be thanking them that we are not in a second Great Depression rather than complaining about how bad things are. The second Great Depression theme came up repeatedly in the debate over the reappointment of Federal Reserve Board Chairman Ben Bernanke. It also featured prominently in Treasury Secretary Timothy Geithner’s defense of his handling of the AIG bailout.
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The Second Great Depression Bogeyman
Consider this article from the Washington Post. (H/T Belmont Club via ECM) How Democrats prevent job creation Most of the article talks about how Obama’s temporary hand-outs will not create any lasting jobs – they’ll simply go away as soon as the government stops taking money from the private sector to pay for these public works projects. But then the article talks about free trade and how free trade creates jobs
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How Democrat policies cause unemployment to increase
I had the pleasure of meeting Alex and Ali de Bold at a number of tech related networking events. As an up and coming start-up with lots of influence in the industry I was eager to help them out. It took some patience to find the right premises as there were not a lot of vacancies at the time and both Ali and Alex had a solid vision on the type of space that would suit the company. Further, it wasn’t the smoothest transaction trying to deal with Allied Properties and getting all of the construction covered and amortized into the rental rate. However, at the end of the day we secured a lease, had the space built out to their specs and moved in on schedule. If you would like to know more about ChickAdvisor.com you can check them out here ! If you want guidance on how to find your new office space contact me ! About ChickAdvisor Nothing beats a good recommendation and that’s what ChickAdvisor is all about! We are a social media platform for women with user-generated reviews on the best products and local services in North America. In addition to our online presence, we host local events a Product Review Club and videos! Our goal is to help women make better purchasing decisions by getting advice first on a wide range of topics from electronics to electrolysis
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Featured Client – Chick Advisor – 96 Spadina Avenue
Toronto commercial real estate sinks 2009 marked the worst year in a decade, although the fourth quarter reflected a sharp rebound. Globe GTA 2009 property market weakest in a decade – Realnet Canada After a weak first half of the year, investment activity in the GTA property markets began to recover in the third quarter and continued to rally in the fourth quarter of 2009.
Here are graphs of office, mall and lodging investment through Q4 2009 based on the underlying detail data released by the BEA … Click on graph for larger image in new window
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Q4: Office, Mall and Lodging Investment
As I have written on numerous occasions, the large “ bullion -ETF’s” – which are backed by nothing but banker promises – exist for one purpose: to dramatically dilute the number of dollars entering this sector, in order to assist the …
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Bullion-ETF Shrinkage GOOD For Sector
It will also enable direct input to BCC policy and research work, to share results and to represent the views of their Chambers of Commerce members. Achieving a broader audience for activity and the ability to promote key projects and …
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GWE Business West joins the British Chambers of Commerce
I’m constantly asked “What can I do to improve my bottom line”? There are several ways to see improvement in your profits; none of which include cutting costs! We’ve all heard you have spend money to make money right? Target, Walmart, etc have not cut their advertising costs and as a matter of fact during a recent outing to the mall I saw many Help Wanted signs in the windows so payroll should be improving in our area as well.
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Marketing is important in business growth
The dangers in suing a client for legal fees are manifest in a recent decision of the New York Appellate Division for the Second Judicial Department. The appeal of the law firm plaintiff was dismissed: The plaintiff is a law…
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Fee Suit Draws Counterclaim
Dean Baker The Guardian Unlimited , February 1, 2010 See article on original website It is probably best to leave the gods out of discussions of economic policy, but this barrier was breached last month when Goldman Sachs CEO, Lloyd Blankfein, told an interviewer that Goldman Sachs was doing God’s work. Most people will never have the opportunity to join Goldman Sachs’ gang of multi-millionaire bankers. However, by Mr.
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Walk Away: It is God’s Work
Residential construction spending was off slightly in December, and is now about 10% above the bottom in June 2009. I expect some growth in residential spending in 2010, but the increases will probably be sluggish until the large overhang of existing inventory is reduced. Non-residential increased slightly in December, but the trend is clearly down
Definitely, nobody wants to think about negative events, some hazards, and disasters. Thousands of Haitians did not think about that as well. Yet, disasters, especially natural, happen
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Disaster Management Essays: Using the Latest Example
Has the Chicago area lost its mojo? Given the poor economic conditions pervading so many regions of the United States, Chicagoans are not alone in asking whether their path of growth and development has gone off track. When the nation’s economy as a whole is down, it is especially difficult for individual regions to interpret economic signals concerning their long-term performance, but the tendency is to read them negatively.
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Groundhog Day for Chicago’s Economy?