“Public Notice poll: Obama and Romney tied, debt issues at forefront”
Politico reports, “President Barack Obama and Mitt Romney are effectively tied in the national presidential ballot, according to a poll taken for the group Public Notice and shared with POLITICO.” Public Notice, a nonpartisan organization that provides facts on economic and fiscal issues, conducted the poll with the Tarrance Group. The results show a dead heat with between President Obama and Mitt Romney with Obama holding 47% to Romney’s 46%, with 7 percent still undecided. Politico reports, “The Tarrance poll suggests the electorate may be receptive to a tough-love fiscal message of the kind Mitt Romney and Paul Ryan have been pushing. Asked whether the two presidential candidates have plans to lower the national debt, 49 percent of voters said Romney had a plan while only 44 percent said the same of the president. On the potentially explosive issue of Medicare, the survey found voters agree that the entitlement program needs changes: 46 percent said major reforms are in order, while an additional 21 percent said Medicare needs modest changes.”
Spotted in Tampa: Billboards Put National Debt in the Spotlight
Bankrupting America, an educational Project of Public Notice, a nonpartisan, nonprofit organization dedicated to providing facts and insight on the economy, is putting the skyrocketing national debt back in the spotlight with56 billboards in 10 states,including 10 billboards this week in Tampa during the Republican National Convention. The goal of the billboard campaign is to get Americans talking about the issues that matter most —the economy, jobs and government spending —said Gretchen Hamel, executive director of Public Notice, on Fox & Friends. Click here to watch the video.
National Debt Clock to be Unveiled at RNC
The Hill reports, “Republican National Committee (RNC) Chairman Reince Priebus will introduce a national debt clock’ when he opens the GOP convention in Tampa Fla. on Monday. The clock, which will be mounted inside the hall at the Tampa Bay Times forum will be activated at 2 p.m. EDT when the GOP meet convenes and count the growth in the nation’s debt during “You Call This an Economic Recovery?” Investor’s Business Daily editorializes, “Back in August 2010, Treasury Secretary Timothy Geithner wrote an Op-Ed titled ‘Welcome to the Recovery.’ Two years later, most Americans would be right to ask: What recovery? Yes, the economy is technically growing, and corporate profits are up. But the pace of growth during the Obama ‘recovery’ has been so slow that it’s leaving most Americans further behind. The latest sign: Real median household income has fallen 4.8% since the so-called recovery officially began in June 2009. That’s a steeper decline than occurred during the recession itself, when incomes dropped 2.6%, according to a new report from Sentier Research.”
U.S. Economy Growing at “discouraging pace”
The Washington Post reports, “The U.S. economy continues to grow but at a discouraging pace. U.S. real gross domestic product increased at an anemic 1.5 percent annual rate during the second quarter. While employment conditions strengthened this year, new job growth has averaged about 100,000 positions per month since April. That’s not enough to keep the unemployment rate from rising. The one bright spot has been the recent moderate improvement in the long-depressed housing market. The glut of houses is beginning to subside, leading to more housing construction and higher prices. The economic outlook is not expected to improve much, if at all, heading into the election. Growth is likely to remain below 2 percent in the third quarter, while the unemployment rate will stay above 8 percent. Concern is growing that Congress won’t act to avert the fiscal cliff of tax increases and spending cuts set to take effect in January, which the Congressional Budget Office has predicted would lead the United States into a recession.”
Romney-Ryan First Year Would Focus on Taxes and Health Care
The Hillreports, “Mitt Romney’s selection of Rep. Paul Ryan (R-Wis.) for vice president made the 2012 election about big domestic policy changes, especially Ryan’s plan to transform Medicare. But getting a polarized Washington to enact reforms quickly will be a huge task even if the GOP takes control of the Senate. Washington experts and congressional aides from both parties say that for political and procedural reasons, year one of the Romney-Ryan administration would be much more about taxes and ‘ObamaCare’ than about Medicare, let alone Ryan’s ideas on Social Security.”
Fed Taking Action?
The Wall Street Journalreports, “Federal Reserve Chairman Ben Bernanke delivers what could be his closing argument in deliberations about launching a new bond-buying program when he speaks Friday at the central bank’s Jackson Hole, Wyo., conference. The argument comes down to weighing costs and benefits. The Fed already has bought more than $2 trillion of Treasury and mortgage bonds to stimulate the economy. The Fed believes this drives down long-term interest rates, elevates stock and real-estate values and softens the dollar. This, Mr. Bernanke has argued, lowers financing costs, increases U.S. companies’ global competitiveness and bolsters household wealth.”
Spain’s Economy Worsens
The Associated Press reports, “Spain’s economy did worse in 2011 and 2010 than previously estimated, the National Statistics Institute said Monday, adding to the gloom surrounding the country as it struggles to emerge from recession and avoid a sovereign bailout. … Spain is in its second recession in three years with near 25 percent unemployment. The economy contracted 0.4 percent in the second quarter compared with the first quarter, when it shrank 0.3 percent. The government estimates it will contract 1.5 percent this year and 0.5 percent in 2013.”
What is a key pillar of economic freedom? Secure property rights.
Derek Yonai, Professor of Business at Campbell University, explains how economic freedom can only exist in a society where property rights are secure. By protecting individuals’ ownership of their personal belongings and property, those belongings are then able to be exchanged, creating the foundation of a free-market system.
But on the other hand, if property rights are not protected, economic freedom collapses. Have you witnessed any violations of property rights? Comment with your story!
President Obama, standing atop the sinking ship that is our economy, asks reporters “who wants to talk about Romney’s taxes?
NEW YORK (MarketWatch) — U.S. stocks on Monday edged upward as Wall Street sought direction and Apple Inc. climbed on a $1 billion verdict.
“It looks like kind of a blurring trading day, which might be indicative of a relatively boring week, although we do have Jackson Hole coming up, but that’s at the very end,” Hank Smith, chief investment officer at Haverford Investments, said of Federal Reserve Chairman Ben Bernanke’s speech scheduled for Friday in Wyoming. European Central Bank President Mario Draghi could offer hints at ECB policy when he follows Bernanke in speaking Saturday at the Fed’s annual symposium.
“A lot of this rally off the late May or early June lows is from Draghi’s comments that the ECB would do whatever it takes to keep the euro together, so any clarity he can bring to that statement will be viewed positively,” said Smith.
The Dow Jones Industrial Average DJIA +0.03% climbed 7.36 points to 13,165.7.
The S&P 500 index SPX +0.25% rose 3.86 points, or 0.3%, to 1,414.99, with telecommunications the worst performing and technology faring best among its 10 sectors.
Stocks opened higher Monday, but have quickly turned mixed due to weakness in blue chips.
The Dow Jones industrial average fell 0.2% with 23 of 30 issues lower. Caterpillar (CAT) was the Dow’s biggest point loser. The S&P 500 eased 0.1%. Meanwhile, Apple (AAPL) helped the Nasdaq to a 0.1% gain. Turnover was tracking higher across the board, especially on the Nasdaq.
Despite the market’s action, some leaders were up sharply.
There may come a day when the referee will flip a plastic card on the soccer field to decide which team gets the ball first.
We are becoming a cashless society, paying with prepaid cards and digital wallets that could send checks, coins and bills into obsolescence.
The embrace of plastic like prepaid cards and the trend toward digital payment methods are key drivers for credit card firms and payment processors.
Other important factors are growth in emerging markets, share buybacks and tight business lending that’s pushing some smaller firms toward plastic.
This Industry Snapshot provides an overview of these five catalysts that are driving the 24 companies in IBD’s Finance-Credit Card/Payment Processing group.
The group ranked in the top 20 among IBD’s 197 groups in recent weeks, though it’s slipped lately.
Among the smaller players in the group are Wright Express (WXS) and FleetCor Technologies (FLT), which provide fuel cards for fleets, and Alliance Data Systems (ADS), which issues private-label credit cards.
The good: An excellent set of specs and features in the Acer Aspire V5-171-6867 include a Core i5 processor, 6GB of RAM, a 500GB hard drive, HDMI, USB 3.0, and even Bluetooth, all for a surprisingly low price, and stuffed into a very small Netbook-like body.
The bad: It has a cramped-feeling keyboard and touch pad, weak battery life, and poor speakers, plus an uninspired, thick design.
The bottom line: The Acer Aspire V5-171-6867 crams the horsepower of a full-fledged budget ultrabook into an 11-inch ultraportable, for several hundred dollars less than most equivalent products. It’s a great budget laptop to consider, but sacrifices have been made to shrink down that much computer into a tiny package.
Welcome to The Future of Gaming, IGN’s new series which examines the technology and ideas that will define gaming for years to come.
In our first episode, we take a look at freemium games, user mods, and motion controllers–three familiar concepts that will continue to evolve and impact gamers everywhere–and the LEAP, a futuristic user interface system that will allow us to interact with our digital worlds in exciting new ways!