Tuesday, November 16, 2010
11/16/10 Current Events
Write summaries of 2 current events dealing with the US economy on our class blog(cite your sources) and then comment on two other classmates blogs....(so you are posting a total of 3 times)....2 days until the greatest school lunch in the history of the United States!!!!! Yes, it's better than crispitos and pizza soup.
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the us goverment debt is over 13.7 trillion dollars.
ReplyDeletethe total overall us debt is over 54.7 trillion dollars.
1. Wal-Mart Stores posted third-quarter profit of $3.4 billion and raised its full-year guidance Tuesday, in a closely watched report that could shed some light on consumer spending.
ReplyDelete2. About 14.7 percent of U.S. households were "food insecure" in 2009, meaning they had difficulty feeding one or more of their members at some point last year due to a lack of financial resources, according to the report. That equates to 17.4 million households total, or roughly 45 million people.
The debt in America is outrageous. The government debt makes up quite a bit of the overall debt.
ReplyDelete1. A Congressional group said that banks are undergoing tests to see if they have enough money for foreclosures. Attorneys from all 50 states launched foreclosure practices.
ReplyDelete2. Apple began selling the Beetles songs on iTunes. They wanted to only sell their songs on CDs, cassettes, or records. The CEO of Apple, Steve Jobs, has been negotiating with the Bettles' record label for years.
1. U.S. stocks fell nearly 1% at the open Tuesday as investors cast a worried eye at economic developments in Europe.The Dow Jones industrial average lost 70 points, or 0.6%, and the S&P 500 fell 8 points, or 0.7%. The tech-heavy Nasdaq lost 19 points, or 0.7%.
ReplyDelete2. Wal-Mart Stores posted third-quarter profit of $3.4 billion and raised its full-year guidance Tuesday, in a closely watched report that could shed some light on consumer spending. Wal-Mart reported earnings per share of 95 cents for the third quarter, compared to an adjusted 82 cents from the year-earlier quarter. After taking into account a 5-cent-per-share tax benefit, the results matched the consensus forecast of 90 cents per share.
Wal-Mart Stores Inc. reported a 9.3 percent increase in third-quarter net income as the world's largest retailer benefited from cost controls and a robust international business
ReplyDeleteWall Street fell sharply Tuesday amid new worries about rising inflation in Asia and the possibility Ireland might need a bailout.
wow walmart is making bank. Its sad that all those people arent getting food
ReplyDeleteObama writes children's book and is selling it to the public for 17.99 at retail the profit will be collected for children scholarships that have fallen or diabled soldiers.
ReplyDeleteChevy Volt is one of the top selling cars . It was named Motor Trend car of the year . It can go 40 miles on battery power
ReplyDeleteThats crazy how much debt we are in. I have no idea how we will ever get out.
ReplyDeleteWal-Mart is making a lot of money.
ReplyDeleteWal-Mart hopes to have people camping outside on black Friday. They are showing to distinct sales. The toys sale is rolling out at midnight and the electronics doorbusters will start at 5 a.m.
ReplyDeleteThe Wall Street Journal reports that itunes will now start carrying music from the Beatles. Itunes is expected to announce this today.
1. There are 5 new tips for investors today, they are:
ReplyDelete-sell appreciated assets
-give to a charity
-convert to Roth retirement accounts
-be energy efficient
-adjust withholding
2. President Obama is taking yet another vacation, to Europe this time. Spending more of our countries money.
Wal Mart made a 3rd quarter profit of 3.4 billion and now is going to take part in the black friday. They are hoping to shed some light on consumer spending.
ReplyDeleteMotorist group AAA and IHS Global Insight project that 42.2 million people will travel 50+ miles from home for the upcoming Thanksgiving holiday. This is an increase of 11% from last year. This is a sign of improving economy with a gain of 2.2% points in gross domestic product since last year's Thanksgiving.
The U.S. stocks falling have been a bad thing, especially in our area effecting the grain prices.
ReplyDeletewalmart earned 3.4 billion Walmart is expecting to have a great black friday sale . THey are planing to kick back electronic prices on black friday .
ReplyDeletea congressional group said that U.S. banks should undergo stress tests to see if they really have enough money to absorb losses
ReplyDeleteIn New York most of their stocks today took a major downfall one of the biggest downfalls that they have ever had. they tumbled more than 150 points
yes Obama needs to be gone Maggie :)
ReplyDeleteKacie, I agree, I don't think we'll ever catch up with the amount of debt we're in.
I had no idea we were in that much debt. We are never going to get out of that much debt it seems like.
ReplyDeleteI agree with Blake the Wal- Mart story is sad.
ReplyDeleteTo Maggie's comment- I honestly dont think he's using the countries money, he gets paid for being the president and im sure he would be well enough to provide his own money for a vacation.
ReplyDeleteIt's sad that the corporate people for walmart are making tons of money this holiday season when many people will be homeless
ReplyDeleteWow Blake that is a lot of money.
ReplyDeleteWal-Mart is getting lots of money.
the national debt is so bad that currently the government is spending our children's money AND our children's children and so on. It's absolutely disgusting.
ReplyDeleteThe debt amount is crazy ! We are never going to get out of debt .
ReplyDeleteThe Economy is set up to fix itself over time with a recession like the Great Depression it should always bounce back maybe a new system will fix it or a new demand for an item that we have such as the oil we have reserved.
ReplyDeletei agree with maggie. i hate that obama is just taking vactations wasting are countries money away like its nothing
ReplyDeleteand i had no idea walmart got that much money.... it looks like they will be all set for black friday and the holidays
1. The amount of debt our country is in is unreal!
ReplyDelete2. I agree, Obama should be gone!
Celeste- It is an actual fact that he is using government money. He is taking totally unnecessary trips around the world using our money. He's acting like he's still campaigning even though he already (unfortunately) is the president and has been for awhile now.
ReplyDeleteStremel thats bad news about the New York stocks
ReplyDelete1. Since the economy is improving, there is an expected increase in Thanksgiving travel. Experts are predicting 42.2 million people will travel at least 50 miles from home this holiday. It will be 11% more than last year.http://money.cnn.com/2010/11/16/news/economy/thanksgiving_travel_aaa/index.htm
ReplyDelete2. The Home Depot reported earnings of $834 million... or 51 cents a share. The home improvement market seems to have stabilized. The company is also doing a good job of managing their profit.http://money.cnn.com/2010/11/16/news/companies/home_depot_earnings_q3/index.htm
1. wal-mart earns $3.4 billion in 3rd quarter profits
ReplyDelete2. AAA and IHS predict that there will be up to 42.2 million people traveling this thanksgiving holiday, thats 11% more than last year
3. U.S. Census report says that New Hampshire is the wealthiest with 65,000 of income per household
4.retail sales rose again for the 4th straight month
Maggie ---Of course the president would take another vacation. It seems like that is all he does!
ReplyDeleteSavanna---- That is a large amount of US households not being able to easily feed everyone!
Obama plans to increase government spending for college education, health care, foreign affairs, science and transportation. He plans to pay for these services by increasing taxes.
ReplyDelete1) Wal-Mart Stores posted third-quarter profit of $3.4 billion and raised its full-year guidance Tuesday, in a closely watched report that could shed some light on consumer spending.
ReplyDelete2) The home improvement retailer reported earnings of $834 million, or 51 cents a share, for the three months ended Oct. 31, up from $689 million, or 41 cents per share, a year earlier.
1. Overall U.S. Debt is: $54.7 Trillion Dollars
ReplyDelete2. Obama takes yet another vacation in Europe. Tax Payers need to realize where out money is going to!
The Wall Street Journal reports that itunes will now start carrying music from the Beatles
ReplyDeleteWal Marts 3rd quarter profit was 3.4 billion
Its crazy the amount of debt we are in, and why is obama so worried about writing a book, and not doing his job
1. President Obama will meet with both parties to negotiate the terms of extending Bush tax cuts. They want to make sure the tax cuts are preserved for lower and middle income families. If no tax extension is approved by Dec. 31 they will go back up to where they were 2001.
ReplyDelete2. There is a boom in exports of ethanol and cost tax payers 6 billion dollars last year. The U.S. became a net of corn base exporter and exports more than importing. THey are on track to ship out 300 million gallons of ethanol in 2010 twice as much as last year.
1. China has plans to cool their booming economy which worries stockholders because the market will fall tremendously. Msn.com
ReplyDelete2. Walmart and many other companies are eliminating shipping charges, free shipping forever? AWESOME
1) 925 pigs in pennsylvania found dead from neglect. (AOLNews.com)
ReplyDelete2) A group of former Guantanamo Bay inmates who claim British spies helped torture them will receive millions of dollars in payouts from the U.K. government. (AOLNews.com)
I think it's good Wal-Mart is going to be a part of black Friday because I'm sure they will get a lot of business...
ReplyDeleteAlso I agree the national debt is really bad taking money from generations on.
Alyssa that is so interesting that taxes are going back to 2001
ReplyDeletebrandon beetles that is so interesting very nice
1) Remodeling your home doesn't give you as much of a payback during resale as it did in the past. You are most likely going to put more money into a remodel than you will get when you sale the home.
ReplyDeleteCNN Money
2) Ethanol exports are rising. The U.S. is expected to export more than twice of what it did last year. This is costing tax-payers $6 million and is angering some people.
CNN Money
1)Rep. Charles Rangel, once one of the most influential House members, was convicted Tuesday on 11 counts of breaking ethics rules and now faces punishment.
ReplyDelete2) President Barack Obama is awarding the Medal of Honor to an Army staff sergeant Tuesday who placed himself in the line of fire in Afghanistan to save two comrades.
1. If no tax cut extension is approved by dec. 31 then peoples income taxes are gonna go back up to where they were before the tax cuts in 2001.
ReplyDelete2. A congress watchdog said the banks should undergo stress tests to determine wether or not they have enough money to absorb losses.
commenting on Jordan Voss
ReplyDeleteI really hope that the income taxes are up... this economy is horrible and we need all the help (and money) we can get.
@ Landon- Thats interesting those former inmates are being paid so much by the UK
ReplyDelete@Travis- Everyone likes free shipping
1. Airlines are expecting to jump 11% because of Thanksgiving.
ReplyDeletehttp://money.cnn.com/2010/11/16/news/economy/thanksgiving_travel_aaa/index.htm
2. Ethanol exports are angering tax payers because it is costing them more than $6 million dollars. Critics also say that it takes as much energy making ethanol then using it. http://money.cnn.com/2010/11/16/news/economy/ethanol_exports_subsidy/index.htm
landon- there goes alot of money
ReplyDeletejosh- Houses are just gonna fall apart now
Alyssa that is interesting that taxes will go back up. Hopefully they can negotiate.
ReplyDeleteApple and Itunes are starting to sell beatles songs
ReplyDeleteU.S. Debt is $54.7 trillion Dollars
i agree with simon
if the bush tax cuts are not extended by december 31 we could start feeling the impact in our wallets in just a few weeks as employers start withdrawing more taxes from our
ReplyDeletepaycheckshttp://money.cnn.com/2010/11/15/news/economy/bush_tax_cuts_faqs/index.htm?cnn=yes&hpt=C2
as ethanol exports soar critics are saying it is a waste because it takes the same amount of power to produce it as regular gasoline $6 billion was what it cost tax payers last
yearhttp://money.cnn.com/2010/11/16/news/economy/ethanol_exports_subsidy/index.htm
the chevy volt looks like a cool car kayla
ReplyDeletethe 40 mile range wouldnt be great for travel though
@ jordan
ReplyDeletei really hope the tax cuts will be extended because we will all have to have at least a part time job next year
1. The amount of travel over this Thanksgiving weekend is expected to increase from the last two years. This should surge the already improving economy.
ReplyDelete2. American taxpayers have seen ethanol production as a way to keep the nation's energy independent. But now we are on track to ship out 300 million gallons of ethanol which is more than twice as much as last year.
1. This article is about how some Americans because of the economy are working two jobs just to make ends meet.
ReplyDelete2. This article is about what it really takes to cut down the unemployment rate.
The country is going to ship out 300 million gallons of ethanol this year. Ethanol is 45 cents per gallon. That could get up to a lot of money.
ReplyDeleteThe taxes are going to go up if they don't give an extension on the the tax cut.
- tyler.. i think its about time that iTunes are selling beatles songs.
ReplyDelete- simon.. i think it is ridiculous the amount of money that go into pointless and unnecessary extravagances.
Oil prices went up 9.8% last month and they are going to continue to rise.
ReplyDeleteThanksgiving travel will increase by 11.4% this year because of our improved economy.