Economy - The New American

Airlines Face Hefty Fine for Delays

Transportation Secretary Ray LaHood announced on December 21 that beginning this spring the federal government is going to impose hefty fines on airlines...

Steven J. DuBord December 23, 2009

Ford Offers to Buy Out U.S. Auto Workers

Steven J. DuBord December 22, 2009

Ford Motor Company disclosed on December 21 that it is offering to buy out 41,000 United Auto Workers (UAW) union members with early...

Fed to Keep Rates Low for “Extended Period”

Steven J. DuBord December 17, 2009

The Federal Reserve decided on December 16 to keep interest rates at historic lows near zero percent. The Fed released a statement declaring...

Jobless Claims Rise, Trade Gap Narrows

Steven J. DuBord December 12, 2009

New claims for unemployment benefits rose more than analysts expected last week, while an unexpected narrowing in the trade gap in October provided...

Buck Knives Bucks Trends

William F. Jasper December 11, 2009

“The Buck knife saved my leg and maybe my life at least once when I carelessly caught a pant leg in the anchor...

Ron Paul Calls for Competition in Money

December 11, 2009

Many years ago, John D. Rockefeller, Sr. famously stated, “Competition is a sin.” He preferred a monopoly, the very antithesis of economic freedom,...

Bernanke Claims Economy Is Recovering

Bob Adelmann December 10, 2009

Federal Reserve Chairman Ben Bernanke told the Economic Club of Washington that the economy is recovering, even as it confronts “formidable headwinds.” ...

Rosenberg Sees China Causing Gold to Hit $2,600

Steven J. DuBord December 5, 2009

Gold has recently topped the $1,200 per ounce mark, but analyst David Rosenberg sees it going as high as $2,623 per ounce in...

Gold Hits New Record High, Skirts $1,200/oz.

Steven Yates December 1, 2009

The weakening dollar propelled gold prices in American markets almost to $1,200 an ounce Tuesday morning, Reuters reported. U.S. gold futures for February...

GDP Numbers Revised Downward to 2.8 percent for Third Quarter

Thomas R. Eddlem November 25, 2009

The U.S. economy grew slower in the third quarter of the year than initially forecast according to the U.S. Bureau of Economic Analysis...

Ron Paul’s Audit the Fed Bill Advances

November 20, 2009

On November 19, the House Financial Services Committee advanced a bill that calls for the General Accounting Office to conduct a comprehensive audit...

Millions of Taxpayers Will Repay Tax Break

Steven J. DuBord November 17, 2009

Thanks to how the Internal Revenue Service implemented President Barack Obama’s tax break last spring, more than 15 million taxpayers may owe the...

Why Stimulus Funds Create Few Jobs

Bruce Walker November 17, 2009

The Obama administration has recently reduced by 60,000 the number of jobs created or preserved by stimulus funds. The acknowledged overstatement of jobs...