America's North Shore Journal » Growth
2nd Circuit Makes LLC Less Attractive
Biz Law Blog The 2nd Circuit Court of Appeals in McNamee v. IRS, No. 05-6151 just affirmed a federal trial court’s determination that the owner of an LLC (limited liability company) can be held personally liable for unpaid payroll taxes. This is a significant decision, which may well be appealed to the Supreme Court. Go read the entire piece, especially if you are an owner of an LLC or want to start one. Your choices WILL affect your protections. … Read entire article »
Filed under: American Economy, Growth
Real GDP
Ace got me thinking about Real GDP. He has a great piece about where the old media sets the bar, for Europe and for the United States. I started digging and created two graphs. This graph tries to illustrate the similarities and differences between this President’s economy and his predecessor. The major point that I take away from this graph is that real GDP grew every year under Bush, though you would be hard pressed to have read that in the media. Each datum is the percentage increase in real GDP from the prior year. Clinton had solid growth. Bush had the “Clinton recession” but the recovery looks solid and current real GDP numbers are approaching those of the Clinton era. This next graph is a look at the Euro community, and the … Read entire article »
Filed under: American Economy, Analysis, Growth, Original writing
The Growth Myth
Dr. Cornwall reminds us of a number of issues in business that every business person should read daily. Beware of the Growth Myth. Focus on growing profits, not sales! Too many entrepreneurs assume that profits always follow sales. This is not always the case. And even when profits do begin to follow sales, cash flow can lag even farther behind. … Read entire article »
Filed under: American Economy, Growth
Fed Policy
NRO prints an interesting column criticizing current Federal Reserve policies. The current policy is to control inflation through rate changes. I’ve been equally critical of the Fed’s policies based on the Greenspan induced recession that ended just after Bush took office in 2001. I am not at all certain that the Fed is managing inflation or trying to catch up to a perceived inflation. The rate actions that it has taken for the last decade or more have been based on guesses about the future based on very limited data about the past. The only significant inflator in our current economy is oil pricing. Were we more of a manufacturing economy, world commodity prices would be a close and more worrisome second. For now, oil is the problem. I would suggest that rate … Read entire article »
Filed under: American Economy, China, China's Economy, Commentary, Growth, Original writing
Jobs – Bush Versus Clinton
Yet again, the media and the Democrats are using an “apples and oranges” argument to advance their false thesis that job growth is weak under President Bush. BLS The number of Americans with jobs rose in June from 143,976,000 to 144,363,000, an increase of 387,000 people. The number of people unemployed fell by 58,000 and the number of people not in the labor force fell by 87,000. That hardly appears weak or sluggish. I’ve seen comparisons with the Clinton “robust” jobs growth. The graph below illustrates the growth for both Clinton and Bush for each of the years of their Presidency. Note that Bush year six is only half over. We can reasonably expect a final number much higher than that displayed. Bush year one is, of course, the Clinton recession and the … Read entire article »
Filed under: American Economy, Analysis, Growth, Original writing, Unemployment
Larry’s Wrong Again
Larry Kudlow thinks oil prices will drop, a lot. He’s dead wrong, again. Real Clear Politics A combination of market forces and government deregulation could be setting us up for a big crack in energy prices, including gas at the pump. And it may happen sooner rather than later. Many years ago, during the 1970s oil crisis, Milton Friedman argued that free markets are more powerful than OPEC, and Ronald Reagan proved the point when prices plunged after he deregulated energy in the early 1980s. Twenty years later, energy-market forces may be poised to assert themselves once more. Oh, Larry, Larry, Larry. Wrong yet again. Why would producers keep oil at sea at $75 a barrel waiting for prices to drop? U.S. demand is only part of the reason that world oil prices are high. … Read entire article »
Filed under: American Economy, Analysis, Growth, Original writing
Oil Import Update
Energy Information Administration [This link will have new data every month.] These are the latest numbers, for March 2006. I wanted to demonstrate the origins of imported oil. Oil imports from both North and South America total 55%. The Arab component includes the Gulf and Algeria. Other is the U.K. and Norway. The United States is not dependent upon Gulf oil. Our allies in Europe and Asia are more so. We can afford to lose the Arab share, or the South American share without much pain, but we do have to keep in mind the effects any of our actions might have on the supplies to our allies as well. … Read entire article »
Filed under: American Economy, Analysis, Growth, Original writing
Allegheny Alligator vs. Walmart
Another of the Walmart battles being fought nationwide. More at the link. Note my bolded phrase. Wellsville Daily Reporter The commonly known Allegheny Alligator surfaced at the public hearing concerning the expansion of Wal-Mart in the village of Allegany Wednesday night. David J. Seeger, a Buffalo environmental attorney well-know to Allegany County nuke dump fighters, attended the meeting representing Community First, a group bent on busting Wal-Mart’s Allegany expansion plans. Seeger brought with him information on a tiny salamander that may or may not exist in the Allegheny River in which, water from 2-Mile Creek is deposited. Run-off from the Wal-Mart parking lot eventually runs into the creek. The Eastern Hellbender Salamander, better known locally as the Allegheny Alligator, Seeger said, is recognized by the Department of Environmental Conservation as a specie which … Read entire article »
Filed under: American Economy, American Politics, Growth, Local, Politics
Coming Soon: Future Posts
- Declaration of War 1812 (in 129 days)
- USS President vs HMS Belvidera (in 134 days)
- General Hull Invades Canada (in 153 days)
- First Battle of Sacketts Harbor (in 160 days)
On Y!CN
- Radioactive Gravel from Japanese Nuke Disaster Used in Buildings
- Fuel Supplies Reach Nome
- Fuel Convoy Reaches Nome
- Russians Sail to Rescue of Ice Bound Alaska Community
- Pope Embraces Anglicans in U.S. with New Ordinariate
- Nebraska Nuke Plant Placed on Special Inspection Status
- Radioactive Water Leaks at Japanese Nuke Site
- Japan Damaged Nuke Plants Still Not Under Control
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American Economic Downturn
August 27th, 2006 | Comments Off
Bill Quick is beginning to persuade me that a recession is close, very close. Of course, I’m one of the ones who believes the Fed is the real growth killer in the American economy. It certainly appears that the many, many rate increases in 1999-2000 had something to do with the death of the Clinton “boom”. Since 2004 the Fed has done the same to the Bush boom. 17 increase and the boom is dying? I think that may be correct. There are other factors tugging at the economy. The price of oil certainly is playing a part. The three hurricanes that wiped out much of the Gulf Coast are another. I would also say that the war in Iraq is having some effect, by taking productive employees out of … Read entire article »
Filed under: American Economy, Blogging, Commentary, Growth, Original writing, Other Bloggers