SubscribeAll Posts Tagged With: "Barack Obama"
Obama Stimulus and January Effect Will be the Week’s Top Stories
President-elect Barack Obama’s transition team is reportedly putting the finishing touches on an economic recovery plan that could run from $675 billion to $1 trillion, though many experts believe the program will most like range between $700 billion and $800 billion.
Briefings for top congressional Democrats were to start either over the weekend or today (Monday), a senior transition-team official told The Associated Press late last week. President-elect Obama is slated to meet today with House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., in a Democratic strategy session that is likely to focus on the economic recovery package.
It’s…
5Jan2009 | Money Morning | 0 comments | ContinuedObama’s New “Economic Fuel”… and 7 Ways to Profit
Our next President will be faced with unprecedented challenges in health care, energy, global warming, an aging infrastructure and huge “legacy” automobile businesses that are teetering on the verge of bankruptcy.
He’s also being presented with an incredible opportunity… one that, if implemented correctly, could have profoundly positive effects on the economic health of the world, just when we need it.
For years, the engine that fueled global economic growth was the spending of the American consumer. Market crashes because of the dot-coms and the housing boom have left many individuals with too much debt and not enough money. Americans are…
14Nov2008 | Investment U | Comments Off | Continued2008 Presidential Election Maps: Obama takes key swing states
Barack Obama will be the 44th President of the United States Here are a collection of maps to show you how he did it:
Source: FiveThirtyEight
Source: FiveThirtyEight
States called so far that have flipped from Republican to Democrat (Iowa, Ohio, Florida, Nevada, Indiana, Virginia, and New Mexico) Here’s how the final 2008 Presidential Map is likely to play out with Missouri and North Carolina still too close to call.
2008 Presidential Election Results by county in swing states:
Virginia
Ohio
North Carolina
New Mexico
Iowa
Indiana
Colorado
Nevada
Government Won’t Extend $700 Billion Bailout Plan to U.S. “Big Three”
The U.S. Treasury Department has rejected General Motors Corp.’s (GM) request of $10 billion in assistance for its potential merger with Chrysler LLC after the Bush Administration decided it didn’t want to broaden its $700 billion financial rescue program to include industrial companies – or to play a role in a GM-Chrysler merger that could cost the U.S. economy tens of thousands of jobs, The New York Times reported yesterday (Monday).
Instead of direct financing assistance, it looks like the Bush Administration will speed up a $25 billion loan program that was approved by Congress in September and that’s aimed at helping automakers…
4Nov2008 | Money Morning | Comments Off | ContinuedElection 2008: A McCain Victory Won’t Mean Same Old Republican Story
One thing is clear about John McCain’s economic policies: They won’t be a mere continuation of George W. Bush’s policies. They can’t afford to be. While Bush’s tax cuts have been highly beneficial both to the stock market and to investors directly, the Bush Administration has taken what was a $150 billion federal budget surplus and transformed it into a $400-billion-plus deficit. That’s at a time when stock markets and real estate markets have been ebullient, producing lots of bonuses and capital gains to tax.
Most of the deficit increase has resulted from sloppiness on spending; only about one third of…
3Sep2008 | Money Morning | Comments Off | ContinuedSpreading the Slowdown
“Wall Street, central bankers, economists, politicians – and most investors too – are betting on a soft landing,” said a friend from New York. “A slowdown in world growth has taken the pressure off commodity prices. Slower growth will help keep inflation down, generally. And as long as inflation is no problem, the Fed doesn’t have to raise rates – which will keep the slowdown from hitting too hard.”
Monday’s International Herald Tribune echoed the good news:
“World economies catch US malaise…pain of slowdown spreads far and wide, threatening businesses and growth.”
The world was growing at about a 5% rate in 2007.…
27Aug2008 | Daily Reckoning | Comments Off | ContinuedObama and McCain Shift Focus to U.S. Economy
Now that presidential hopeful Barack Obama has returned from a tour of the Middle East and Europe, he and his Republican rival, John McCain, are squaring off on the status of the U.S. economy, which has become the most pervasive domestic issue in the 2008 campaign.
Obama met with a panel of advisers yesterday (Monday) to discuss possible remedies for the sputtering U.S. economy. That panel included such eminent figures as billionaire Warren Buffett, Paul Volcker, and former Clinton advisor Robert Rubin.
“People are understandably concerned about the economy, and that’s what we will be talking about for the duration,†Obama…
29Jul2008 | Money Morning | Comments Off | ContinuedThe intellectually barren offshore drilling debate
At least one of Matt Simmons’s forecasts is not yet bearing fruit — his 2006 prediction that Peak Oil would come to dominate the 2008 campaign. For the debate over offshore drilling that’s erupted this week has shed absolutely no light on the real issues.
For starters, there’s a highly disingenuous calculus behind the flip-flops of John McCain and Florida Governor Charlie Crist, who now favor offshore drilling: They’re sending a message, implicit but unmistakable [Update: Actually, it's completely explicit] , that allowing more offshore drilling will somehow put a voter’s Labor Day getaway this year, heretofore unaffordable, within reach. It will, of…
23Jun2008 | Desidooru Saloon | Comments Off | ContinuedElection 2008: As Democratic Primary Hits a New Pinnacle Today, Obamanomics Emerges as Clear Front-Runner for Investors
With contests in both Indiana and North Carolina, today (Tuesday) probably marks the last of the crucial Democratic presidential primary election contests between senators Hillary Rodham Clinton and Barack Obama.
Unless the cynical premise of Rush Limbaugh’s “Operation Chaos” is realized, and the Democrat presidential wingding continues to move forward at an increasingly vitriolic level through that party’s national convention in Denver in late August, whomever wins the Democratic nomination is pretty likely to be our next President. So, as investors – whether Democrat or Republican – which of the two candidates should we be rooting for?
The Case for Clinton
Our initial reaction would…
6May2008 | Money Morning | Comments Off | Continued
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