Moneybox: That?s Obama?s Jobs Plan?

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Moneybox That's Obama's Jobs Plan? His muddled SOTU scheme to boost the economy by hindering trade. By Matthew Yglesias Posted Wednesday, Jan 25, 2012, at 05:04 AM ET The bold, transformative Barack Obama, painter of grand vistas, is gone, replaced in his State of the Union address by a Clinton-esque figure, reciting laundry lists of small-bore proposals. There were some very good ideas for attacking the crisis of mass unemployment. Extending the payroll tax cuts without another round of policy riders and protracted negotiations should be a no-brainer. Legislation to make it easier for millions of Americans to refinance their mortgages at today's low interest rates is a great idea that should bolster consumer demand and make it easier for the entrepreneurially inclined to start businesses. His call to avert a massive spike in student loan debt interest payments is sound, and the promise to create a federal task force on foreclosure fraud seems very smart. But framing the entire economic message of the speech was a strikingly retrograde, self-contradictory, and confused agenda of reviving American prosperity through mercantilism. Think of it this way. One idea for putting Americans back to work would be to raise the gasoline tax and use the proceeds to buy manufactured goods that we then dump into the middle of the Atlantic Ocean. This would, I promise you, work perfectly well. The previously unemployed folks with the new factory jobs would thank us for our trouble. But it would be a curiously prosperity-destroying way of bolstering the economy. When Obama brags that "over 1,000 Americans are working today because we stopped a surge in Chinese tires," he's implementing a small-scale ... To continue reading, click here. Join the Fray: our reader discussion forum What did you think of this article? POST A MESSAGE | READ MESSAGES Also In Slate What the Supreme Court Can Learn From Gabby Giffords and Jeff Flake's Tender Moment The New England Patriots Are Not Out for Revenge What Does Mormon Heaven Look Like? How About Mormon Hell?	Advertisement
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STOCKS SURGE AND THE FED SEES LOW INTEREST RATES FOR YEARS: Here's What You Need To Know, January 25, 2012

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Wednesday, January 25, 2012 Advertisement We got monster earnings from Apple.  We also got introduced to the Fed's new communications policy. First, the scoreboard: Dow: 12,758.9, +83.1, +0.7% S&P 500: 1,326.1, +11.4, +0.9% NASDAQ: 2,818.3, +31.7, +1.1% And now, the top stories: There was some volatility in the financial markets earlier today.  Addressing the Greek debt situation, IMF head Christine Lagarde suggested that the public sector should be willing to absorb losses if negotiations on a private sector debt swap fails. Is This A New Watershed Moment In The Euro Crisis? December pending home sales fell 3.5%, which was much worse than the 1.0% decline expected by economists. "Contract failures remain an issue," said NAR chief economist Lawrence Yun.  Here Are 10 States Where You Can Get Amazing Bargains On Foreclosed Homes > The Federal Open Market Committee (FOMC) announced no change in its Fed Funds target rate.  It went on to say that it expects to hold rates "exceptionally low" through 2014.  In its new effort to be more transparent, the Fed published a series of charts reflecting the mix of opinions among FOMC members.  We learned that two FOMC members don't expect to raise rates until 2016. Following the FOMC's announcements, stocks turned positive, gold surged, and the dollar fell. Lots of companies moved on earnings today.  But no announcement was as big as Apple's. The company reported EPS of $13.87 on revenue of $46.33 billion.  Numbers blew out analysts' expectations of $10.07 and $38.76 billion, respectively.  During the quarter, Apple sold 15.4 million iPads, 37.0 million iPhones, 5.2 Macs, and 15.4 million iPods.  Sales for all four product categories were better than expected.  "Apple is breaking the law of large numbers," said the WSJ's Rolfe Winkler.  The stock jumped 6.2%. U.S. Airways and Delta Airlines both both announced better-than-expected earnings, sending shares up 17% and 6%, respectively.  Amid speculation that it was considering a bid for bankrupt American Airlines, U.S. Airways' CEO Douglas Parker faced the rumor head-on during the company's earnings conference call.  Parker confirmed that the company had hired Barclays Capital and Millstein & Co. to look into the matter.  "So while it's no longer imperitive that our industry consolidate, we are of course always interested in exploring value enhancing deals," Parker said on the call.  The Next 17 Big Companies That Are At Risk Of Bankruptcy > Last night, Roche made a $5.7 billion bid for biotech company Illumina, which sent shares soaring by more than 40%.  However, UBS analyst Daniel Arias thinks Illumina is worth much more. Don't Miss: Legendary Credit Guru Edward Altman Unveils His 2012 Outlook For Corporate And Sovereign Defaults > Please follow Money Game on Twitter and Facebook. Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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The NYPD's anti-Muslim training film; Fed to keep interest rates low; Somali pirates, Google privacy and more.

The Slatest: January 25, 2012 Fed To Keep Interest Rates Low Through 2014 The central bank doesn't predict significant economic growth before then. READ FULL STORY Despite Claims to Contrary, NYPD Used Anti-Muslim Training Video The controversial film depicts American Muslims as having a secret, anti-U.S. agenda. READ FULL STORY Wisconsin Governor Raises $12M For Recall Fight Both sides appear energized for a high-stakes special election expected later this year. READ FULL STORY Users Can't Opt Out of Google's New Privacy Policy The Internet titan will be able to access user data across Google platforms like Gmail and YouTube. READ FULL STORY Navy SEALs Rescue Hostages in Somalia The two foreign aid workers, including an American, were taken captive by Somali pirates three months ago. READ FULL STORY After OWS, U.S. Drops in Press Freedom Rankings The nation drops 27 places in annual index thanks to the harsh treatment of reporters covering the protests. READ FULL STORY Ron Paul Uses Son's TSA Incident For Fundraising Pitch GOP hopeful asks supporters to deliver with "End the TSA Money Bomb." READ FULL STORY Michele Bachmann Running For Re-election After a failed White House run, the congresswoman will look to win another House term. READ FULL STORY Egyptians Mark Anniversary of Tahrir Square Uprising While the mood was mostly celebratory, some demonstrators pushed for a "second revolution." READ FULL STORY Gingrich Pulls Even With Romney in National Poll Fresh off his dominating South Carolina win, Gingrich continues to challenge Romney's status as the front-runner. READ FULL STORY Advertisement From Slate: What the Supreme Court Can Learn From Gabby Giffords and Jeff Flake's Tender Moment The New England Patriots Are Not Out for Revenge What Does Mormon Heaven Look Like? How About Mormon Hell? Weigel: Spilled Milk, Insider Trading, and Other State of the Union Highlights I'm the College Student Nick Kristof Cited as Proof Students Hate Capitalism. He's Wrong. Tell Us a Love Story in Three Photos I Was Attacked at Game Night—and My Friends Did Nothing More from The Slatest: Despite Claims to Contrary, NYPD Used Anti-Muslim Training Video Fed To Keep Interest Rates Low Through 2014 Ron Paul Uses Son's TSA Incident For Fundraising Pitch Egyptians Mark Anniversary of Tahrir Square Uprising After OWS, U.S. Drops in Press Freedom Rankings Users Can't Opt Out of Google's New Privacy Policy Michele Bachmann Running For Re-election Wisconsin Governor Raises $12M For Recall Fight Navy SEALs Rescue Hostages in Somalia Gingrich Pulls Even With Romney in National Poll

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