Politics Barack Obama

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    Are we to believe that Obama will rescind the excess appropriations? Hardly. And since pay-go is dead, most of this new spending will not be offset. It will add to deficits and debt. It’s the Greek disease. The welfare state run amok. Right here at home.

  • Jamie Dimon

    Ten of JP Morgan & Chase's largest investors meet with CEO Jamie Dimon on Wednesday amid concerns of financial regulation and whether the company would  consider buying back stock or raising its dividend.

  • Confused yet? Stocks rallying worldwide, but off their highs, as China denying it is reviewing its holding of euro sovereign bonds, while Spain won parliamentary backing for an austerity budget (by a single vote!). Few believe this...

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    Despite the new healthcare law, the reform landscape still suffers from a missing link. I refer here to the concept known as play.

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    No single data point has left economists scratching their heads more this year than the continued elevated levels of weekly initial jobless claims. A troubling trend continued this morning with the release weekly initial claims data for the week ended May 22 showing that 460,000 Americans filed for jobless benefits.

  • President Obama visited Solyndra to promote green tech talk jobs. The Fremont, CA company was chosen in part, because it was the recipient of a half a billion dollars in government stimulus money.

  • As the euro took another leg down against the dollar and the yen about 3:20pm ET, we saw a volume spike in the E-mini futures and the S&P 500 ETF; they have now turned negative on the day. Also: Apple bigger than Microsoft?!

  • The Cuban flag flying in Park Central in Havana.

    American industries of all kinds—from travel and telecom to construction and energy—would be poised to profit if the 52-year trade embargo with Cuba were lifted. Among the first businesses to cash in would be those involved with tourism, most experts agree.

  • That's the big question on the minds of traders today, who have rightfully become suspicious of rallies — like the one yesterday — when there is no follow-through.

  • Euro coins

    Once upon a time, the European Economic Community-remember that quaint post-World War II institution-thrived without a single currency. A larger European Union can again, but it needs to jettison the fantasy that the benefits of capitalism can be accomplished without adequate incentives to work hard and invest.

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    As the House and Senate begin merging their separate bills into a single bill, they still have a chance to make some important improvements. Here are four issues to watch in coming  weeks. The NYT explains.

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    Europe's travails can and should be teaching us something: Do not wait until it is too late to get your fiscal house in order.

  • With the euro relatively stable against the dollar and the yen (though weaker late in the morning), most European indices are up 2 to 3 percent. This may be partly due to comments from the Organization for Economic Cooperation and Development, which raised its growth forecast for this year and 2011.

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    One day Team Obama announces a plan for enhanced rescission authority to impound wasteful spending. The next day the House surfaces a $200 billion “stimulus” plan to spend on transfer payments for welfare, even more unemployment compensation, still more Medicaid, and a bunch of special-interest subsidies.

  • President Barack Obama

    All this week, the NBC news family is focusing attention on "A Nation Divided," and ahead of President Obama's Silicon Valley visit on Wednesday, I was asked to look at the H1-B visa issue again, especially as it relates to the tech community and a new hiring wave.

  • The strong correlation between the euro and stocks continues to hold. Stocks briefly touched below their February intraday lows shortly after the open. However, they have halved their losses as the euro has retraced some of its earlier losses, sitting now at its session high.

  • The Parthenon in Greece

    The next financial Tsunami is emerging and will ripple to America, just as our mortgage debacle gave Europe fits.

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    If there is someone who understands the practical realities of our “too big to fail” system and the damage it can wreak, it is Harvey R. Miller, who, at 77 years old, has handled the largest bankruptcies in history, including the mother of all failures, Lehman Brothers.

  • So much for volatility easing…after a fairly calm day yesterday (Monday), the Dow fell another 80 points in the last 15 minutes of trading. Following that, futures lurk at the lows of the morning as European and Asian markets fall 2 percent to 4 percent.

  • With the financial reform bill now in conference, analyst notes and trader talk have heated up considerably over the weekend. We are now in endgame, and there is considerable speculation on the outcome of the key points.