Labor Day is observed annually in honor of working people on the first Monday in September in all the states and territories, including Puerto Rico and the Virgin Islands. The day was originally conceived in 1882 by Peter J. McGuire, the radical founder and indefatigable warrior of the Brotherhood of Carpenters and Joiners of New [...]
Government should stay out of free enterprise? U.S. consumers stand a better chance of buying honey free of drugs, chemicals and other illegal contaminants because investigators from several federal agencies have scooped up some of the biggest players in the sticky, international honey-laundering maze. A 70-page indictment, released in Chicago by U.S. Attorney Patrick Fitzgerald, [...]
CEOs the villains again? Take a look at this recent report. As U.S. companies shed millions of workers during the recession, the CEOs who laid off the most people brought home pay that was significantly higher than that of their peers, a study released on Thursday found. The CEOs of the 50 U.S. companies that [...]
Have we entered the liquidity trap? What is a liquidity trap? In its original conception, a liquidity trap resulted when demand for money becomes infinitely elastic (i.e. where the demand curve for money is horizontal) so that further injections of money into the economy will not serve to further lower interest rates. Under the narrow [...]
The market is drifting lower and lower and the political oppositions are dancing with glee that the economy is tanking so they can take power. To do what? One program that seems to be gathering steam is tax reductions. They want lower taxes for corporations and the individual income tax rate in effort to stimulate the economy [...]
China’s famous ski resort in Yabuli will host the country’s first Club Med this November. The upscale resort will also be the French company’s beachhead in China, where it plans to build five such properties. In November, northern China’s ski centre in Yabuli will host the country’s first Club Med. In accordance with new company [...]
Chinese leap frogs over Japan !!! The latest output figures put China ahead of Japan as the world’s second-largest economy for the quarter on a nominal dollar basis, at $1.2883 trillion against $1.3369 trillion, said Keisuke Tsumura, a parliamentary secretary at the Cabinet Office. “(But) since we have different calculations for seasonal adjustments, it would [...]
The Greek economy shrank by a further 1.5% in the second quarter of the year, Greece’s statistics agency has said. That adds to 0.8% decline in GDP recorded for the first three months of the year, suggesting that the decline in the economy is speeding up. Greece’s GDP has fallen 3.5% since this time last [...]
Cheap Money Ain’t Working !!! The Federal Reserve’s policy statement this week, along with a report from Freddie Mac , provide ample evidence that cheap money is doing little good for the U.S. economy. The reason is simple – not enough people can take advantage of that cheap money – but the solution to the [...]
Bluepoint daily market view – September 07, 2010
Today France shuts down, soon Europe is to shut down. The international day of workers’ action, called by the European Trade Union Confederation for 29 September, could be an event of major importance for the working class movement and the CWI. The day itself, which will see co-ordinated protests, action and general strikes, has the [...]