Daily Digest

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Daily Digest 1/10 - How Bankrupt Cities Make Money, Obama Proposes CC Tuition Plan

Saturday, January 10, 2015, 9:43 AM

Economy

December Employment Gain Caps Best Year for U.S. Since 1999; Wage Gains Lag (jdargis)

About 3 million more Americans found work in 2014, the most in 15 years and a sign companies are optimistic U.S. demand will persist even as overseas markets struggle. The drop in workers’ hourly wages means Federal Reserve policy makers are less likely to move up the timing of an interest-rate increase.

Economy Up, G.O.P. Wants A Little Credit (jdargis)

How both parties finesse an economic recovery that is clearly gathering steam will have major ramifications for the coming presidential election cycle. In 2012, 45 percent of voters said the economy was not doing well, according to exit polls. Democrats carried those voters by a 13 percentage point margin. Two years later, those voters had had enough: 48 percent saw the economy negatively, and Republicans carried that group by 17 points.

In the next election, who gets credit if opinion shifts again will matter enormously, said David Winston, a Republican pollster who consults closely with House Republican leaders.

Obama, in Tennessee, Begins Selling His Community College Tuition Plan (jdargis)

But even as Mr. Obama hosted three Republican lawmakers from Tennessee on Air Force One for the trip from Washington, his adversaries on Capitol Hill showed little interest in signing on to a new and costly initiative that extends the federal government’s reach into education policy, no matter that it is modeled partly on a program created by Tennessee’s Republican governor, Bill Haslam.

The Wage Weakness May Not Be as Bad as It Seems (jdargis)

“You’ve hired a lot of people in the last three or four months, and to the extent that you’re bringing in a lot of new talent, this new talent is not getting paid as the more experienced talent,” said John Silvia, chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “It’s probably only temporary. I would suspect that at the beginning of this year, as we go forward, those wages will pick up.”

Bratton Tells New York Police Officers It’s Time to Get Back to Work (jdargis)

In the courts on Friday, the number of people being arraigned on criminal charges had doubled compared with earlier in the week, but had still not reached normal levels. As courts opened, 479 people arrested on Jan. 8 were waiting to see a judge, compared with 212 arraigned citywide on Jan. 2.

The Surprising Ways Bankrupt Cities Make Money (jdargis)

Prior to The Great Recession, the most famous municipal fiscal crisis was New York City’s in the 70s—which also had a surprising component to its solution. At the time of its near-default, according to Kim Phillips-Fein from a retrospective in The Nation, “The city had nineteen public hospitals in 1975, extensive mass transit and public housing, public daycare and decent schools. The municipal university system—the only one of its kind in the country—provided higher education to all, free of charge. Rent stabilization made it possible for a middle class to inhabit the city. For many, the fiscal crisis showed that it was no longer possible for New York to finance these kinds of services.”

Why Quitting Is Good For The Economy (Video, jdargis)

Thinking about changing jobs in 2015? You're not alone—and The Washington Post's Chico Harlan explains why that's good news for the country's economic outlook.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/8/15

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

6 Comments

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2237
Ron Paul's Ten New Year’s Resolutions For Congress

http://www.zerohedge.com/news/2015-01-09/ron-pauls-ten-new-year%E2%80%99s-resolutions-congress

Since New Year's is traditionally a time for resolutions, and since the new Congress convened this week, I thought I would suggest some New Year's resolutions for Congress... [more detail for each in original article]

1) Bring the troops home

2) Pass the Audit the Fed bill

3) Repeal the PATRIOT Act and rein in the National Security Agency

4) Shut down the Transportation Security Administration

5) End all corporate welfare

6) Repeal and Replace Obamacare

7) End police militarization

8) Shut down the Department of Education

9) Allow individuals to opt out

10) Allow state governments to opt out — If Congress lacks the votes to end the war on drugs, repeal Obamacare, or roll back other unconstitutional federal programs, it should at least respect the rights of states to set their own policies in these areas. Federal prohibition of state laws nullifying Obamacare or legalizing marijuana turns the Tenth Amendment upside down.

jonesb.mta's picture
jonesb.mta
Status: Silver Member (Offline)
Joined: Jun 11 2008
Posts: 126
New York Times

The NY Times is the government's main propaganda mouthpiece and yet we see several articles referenced every day. I've never seen Lew Rockwell or even Reason referenced and they're way more in line with what this site is all about.

Thetallestmanonearth's picture
Thetallestmanonearth
Status: Gold Member (Offline)
Joined: Feb 28 2013
Posts: 320
jonesb.mta

HI Jones, I agree that NYT is mostly propaganda.  I'm not familiar with Reason or Lew Rockwell, but I'm interested in new sources of info.  Most of the articles are user submitted.....maybe next time you see a good one you could submit it to give the news section a little more balanced perspective.  You do it from the home page, there is a link just below the link to read the daily digest that says "submit an story".

Wendy S. Delmater's picture
Wendy S. Delmater
Status: Diamond Member (Offline)
Joined: Dec 13 2009
Posts: 1982
yes, Jones and Tallest

yes, Jones and Tallest, but the NY Times is trusted. Dunno why, sometimes. I use a number of sources whenever possible and use trusted sites as part of the mix. This is because newcomers to the site might like to see familiar faces. And sometimes, the Old Gray Lady gets things right. Unlike a lot of news outlets, they still have actual reporters instead of relying on things off the AP and Reuters feeds.

Other times, yeah, they lean a bit left. Back when I lived and worked in NY one friend summed it up for me as "All the news that fits our views."

'

Thetallestmanonearth's picture
Thetallestmanonearth
Status: Gold Member (Offline)
Joined: Feb 28 2013
Posts: 320
Quite right Wendy!  I agree

Quite right Wendy!  I agree with your comment completely....I seek out MSM articles that sometimes flirt with the edges of concepts we discuss here as a way of exposing friends to alternative ideas or to start discussions.  Every news source has it's bias and they all have value too.  It's up to each of us to develop a rubric to determine for ourselves which ones are trustworthy.  I use NYT's to see what I'm supposed to think. I use CNN to see what I'm supposed to be afraid of this week (TERROR ALERT).  Fox tends to tell me who to be mad at. I check RT for the Russian perspective and CNBC/WSJ for wallstreets input. ZH tends to be about 50% good financial reporting 20% interesting social commentary and about 30% fear mongering (in my opinion).  Put them all together with a little perspective from PP and other blogs on some of the bigger issues and I feel like I have a decent grasp on what's happening in the world.....until I try to discuss it with someone who only visits one of the news outlets, then I feel like I'm taking crazy pills again.

phecksel's picture
phecksel
Status: Silver Member (Offline)
Joined: May 24 2010
Posts: 204
Tall, most awesome summary...

Tall, most awesome summary...  Although I'd increase ZH fear mongering to 50% without changing the other percentages... yes it's over 100% :)

 

Wendy, love that quote!

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