Stimulus Checks – Eligibility and Missing Payments

See this article for the latest on the stimulus check (economic impact) payments [Updated Dec 2010] The Making Work Pay tax credit expires on December 31, 2010.  As a result: –  The income tax withholding tables for 2011 will no longer be adjusted for the Making Work Pay credit. There …

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Feds Beige Book Update and Commentary: Turbulence Ahead

The latest Federal Reserve Beige Book was released today and as expected the news was grim, which almost guarantees a substantial interest rate cut next week. The beige book contains the Fed’s latest snapshot of business and economic conditions looking at factors such as housing, manufacturing, credit, prices, wages and …

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Things should get better by 2010

A very cool graphic from the Economist looking at the GDP, Unemployment and Inflation forecasts for the US, Japan, Euro Zone and OECD. As leaders of the G20 countries gather in Washington, these factors and their forecasts will be key when decisions are made. 2009 looks like a global write-off …

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Bad Assets not the Problem; its the Banks and Consumers Stupid!

Treasury Secretary Henry Paulson announced that he has shelved the original plan to buy troubled mortgage assets via the recently approved $700 Billion Troubled Asset Relief Program (TARP). Instead he will use the remaining funds to assist non-bank financial institutions and promote consumer finance initiatives. In a striking admission, Paulson …

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China Flexes Economic Stimulus Muscle

The Chinese government announced it would spend an estimated $586 billion by 2010 on a wide array of national infrastructure and social welfare projects, including constructing new railways, subways, power stations and airports to combat a domestic and global slowdown. With China’s gross domestic product (GDP) around $3.5 trillion this …

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Here comes the Next Round of Stimulus Payments

In further proof that the government is trying to spend it’s way out of the current financial crisis, the federal reserve chief – Ben Bernanke – signaled his support for a second round of fiscal stimulus’. The usual fear mongering lines of “dire consequences”, “grave doubts of our future” and …

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