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At Work: Don't let cynicism about economy drag you down

Andrea Kay, Gannett 12:57 p.m. EDT September 28, 2013 In 2011, former Labor Secretary Robert Reich, right, is cheered as he is introduced to speak to Occupy Los Angeles protesters.(Photo: David McNew, Getty Images)Story HighlightsMany middle-class workers are anxious, frustrated, angry, Reich saysThe problem: Wide income disparities threaten our economic health, revitalizationHis documentary 'Inequality for All' explains the forces at work, how you fit inWho's looking out for the American worker?Nobody, Robert Reich says.Actually, he is.REVIEW: 'Inequality' rich portrait of middle class2010: Time to stoke the economy, Reich says[1][2]He has been standing up for the little guy his entire career, first writing policy in the public sector as secretary of labor under President Bill Clinton and serving in the administrations of Presidents Gerald Ford and Jimmy Carter.He is a best-selling author of 13 books and holds the title chancellor's professor of public policy at the University of California, Berkeley where he teaches the class "Wealth and Poverty." Now Reich is the star of Inequality for All, an engaging documentary that opens in theaters this week.It's his latest shot at helping people connect the dots about how we got where we are and why economic inequality to the degree we have now is bad for everyone — including the wealthy.He is entertaining as only the spirited Robert Reich can be as he drives around in his Mini Cooper and references his 4-foot, 10½-inch stature in his self-deprecating yet dignified way.He also is illuminating. He skillfully walks you through the forces that affect middle-class workers who are the heart of our economy but no longer have the purchasing power to expand it.“Some inequality is inevitable, (but) people would be less concerned about inequality of income and wealth if everybody had a chance to make it.”— Robert Reich, star of 'Inequality for All'In…
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If government shuts down, economy would feel it

Tim Mullaney, USA TODAY 1:04 a.m. EDT September 26, 2013 The U.S. Capitol dome is seen at sunrise over Washington, D.C., September 25, 2013.(Photo: Saul Loeb, AFP/Getty Images)Story HighlightsEven a partial government shutdown would damage economy, experts sayA shutdown lasting less than a month could slice Q4 growth in half1995-1996 shutdowns offer clues to potential economic impactIf the federal government shuts down next week, the economic impact would be small at first but grow quickly.A partial shutdown would cut the economy's annual growth rate in the fourth quarter by 0.2 percentage points, to 2.5%, even if it ended in three or four days, Moody's Analytics chief economist Mark Zandi told the Senate Budget Committee Tuesday.A three-to-four week impasse could reduce growth by 1.4 percentage points — effectively cutting the economy's expected growth rate by half or more. About half of civilian government workers wouldn't be able to go to work, and their lost pay would represent about half of the short-term economic impact, Zandi estimated."Shutting the government down for three or four weeks would do significant economic damage,'' Zandi said. "Any interruption longer than a month would cause GDP to fall for the quarter, and one longer than two months would likely precipitate another recession.''With Congress coming down to the wire on whether to fund the federal government after its fiscal year ends Sept. 30, non-essential government functions could begin a partial shutdown on Oct. 1. Entitlements such as Social Security and food-stamp benefits would continue to be paid, and most military functions would continue, but furloughs for non-essential workers would begin almost immediately, says the Congressional Research Service.The worst-case scenario would be if Congress failed to raise the debt ceiling, a separate decision from approving a funding bill, which could trigger a first-ever default by the U.S. government. Treasury…
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Stocks fall on budget fight concerns; Apple jumps

Kim Hjelmgaard, USA TODAY 12:41 p.m. EDT September 23, 2013 In this Sept. 18, 2013, file photo trader F. Hill Creekmore works on the floor of the New York Stock Exchange.(Photo: Richard Drew, AP)Story HighlightsWall Street eyes U.S. debt ceilingTyphoon Usagi closes Hong Kong marketsOil prices see modest pressureStocks fell Monday as investors continue to worry about the debt ceiling debate in Washington and the state of the economy.The Dow Jones industrial average fell 0.3% and the Standard & Poor's 500 index dropped 0.5%. The Nasdaq composite index was down 0.4%.Apple shares surged more than 3% after it said shoppers had snapped up 9 million[1] of the newest iPhones since the devices rolled out Friday.APPLE: Sells record 9 million new iPhones[2]TWITTER: Credit line up to $1B ahead of IPO?[3]Stimulus from the Fed has helped push stocks to record levels this year and investors last week cheered its surprise decision to keep its stimulus in place[4]. The central bank said the economy wasn't strong enough for it to pull back on its bond-buying program.William Dudley, the president of the Fed's New York branch, said Monday that any changes to the bank's stimulus must be based on the most recent measures of economic health, according to a Reuters report.Investors were also keeping an eye on discussions in Congress over raising the debt ceiling. Lawmakers need to agree to raise the debt ceiling by Oct. 1 to avoid a government shutdown, and a potential default on payments, including debt, later in the month."As we move into the debt ceiling debate there seems to be a higher probability that will be more of a battle over that and that could inject some volatility into the market," said Scott Wren a senior equity strategist at Wells Fargo Advisors.Wall Street fell Friday as investors focused on…
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Fed official says October taper possible

AP 12:31 a.m. EDT September 21, 2013 NEW YORK, NY - SEPTEMBER 20: Traders work the floor of the New York Stock Exchange at the end of the trading day on September 20, 2013 in New York City. The Dow Jones Industrial Average dropped 185 points to finish the week at 15,451. (Photo by John Moore/Getty Images) ORG XMIT: 181546600 ORIG FILE ID: 181328835(Photo: John Moore Getty Images)Story HighlightsVote to delay tapering was "close decision," St. Louis Fed president James Bullard saysStronger data before next Oct. 29-30 Fed meeting could change mindsMarket reaction shows impact of Fed's decisionsWASHINGTON (AP) — A voting member of the Federal Reserve says the Fed could start to reduce its bond purchases as early as the next meeting in October, if the economy shows improvement.James Bullard, president of the Federal Reserve Bank of St. Louis, told Bloomberg television Friday that it was a "close decision" not to slow the $85-billion-a-month in bond buying at the Sept. 17-18 meeting. He said stronger data before the Oct. 29-30 meeting could make Fed officials "comfortable with a small taper in October."The bond purchases are intended to keep long-term interest rates low, encouraging more borrowing, spending and growth.Bullard also noted that not having a news conference scheduled next month doesn't represent an obstacle to Fed action at the October meeting. The Fed could easily schedule one, if it felt it needed to explain a decision — such as voting to reduce the purchases.In a separate interview later Friday with Fox Business, Bullard stressed that he was not predicting that the Fed would move to cut bond purchases at its October meeting. He said that it could happen if the data shows the economy has strengthened. But he said an argument could also be made that the Fed panel will…
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Survey: CEOs less optimistic about the economy

Share This Story!Let friends in your social network know what you are reading about Survey: CEOs less optimistic about the economy Post to FacebookPosted!A link has been posted to your Facebook feed. Sent!A link has been sent to your friend's email address. Associated Press 12:48 p.m. EDT September 18, 2013 People wait in line before the Dr. King Career Fair at the Empire State Plaza Convention Center in Albany, N.Y.(Photo: Mike Groll, AP)Story HighlightsThe Business Roundtable's index fell to 79.1 in the third quarter from 84.3CEOs say disagreements in Washington about the debt ceiling and budget are making them cautiousNEW YORK (AP) — A new survey shows U.S. CEOs are less optimistic about the economy's prospects for the next six months. The survey indicates that disagreements over the 2014 budget in Washington are making them cautious about hiring.The Business Roundtable's index, which surveys CEOs about their outlook for the economy, fell to 79.1 in the third quarter from 84.3 in the previous quarter. Any reading above 50 suggests expansion.BUDGET FIGHT: Republicans plan showdown over Obamacare funding[1]ECONOMY: New study warns of U.S. long-term debt problems[2]The Business Roundtable says that 32% of its CEOs surveyed expect to increase hiring in the next six months. That percentage is unchanged from the survey in the previous quarter. Forty-four percent say that there will be no change in their hiring plans, while 24% say they expect to decrease hiring.The Business Roundtable is an association that represents over 200 CEOs. The survey results are based on 134 responses received between Aug. 16 and Sept. 6.Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. USA NOW Miley's antics garner $79 million | USA NOW videoSep 18, 2013References^ http://www.usatoday.com/story/news/politics/2013/09/18/house-cr-shutdown-debt-ceiling-fight/2831623/ (www.usatoday.com)^ http://www.usatoday.com/story/money/business/2013/09/17/debt-study/2826499/ (www.usatoday.com)...
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Beer Man: Complex flavors shine in Gulden Draak 9000

Todd Haefer, The (Appleton, Wis.) Post-Crescent 9 a.m. EDT September 15, 2013 Gulden Draak beer is a standout even among the many fine Belgian ales available. It has been a standalone brand until the release of Gulden Draak 9000, a Belgian quadruple ale with a nearly 11% ABV.(Photo: BROUWERIJ VAN STEENBERGE)Story HighlightsBrouwerij Van Steenberge offers a Belgian quadruple ale with 10.7% ABVSomewhat sweet Gulden Draak 9000 shares characteristics with barleywine'Golden dragon' ale available in 25.4-ounce bottleSHARE 12 CONNECTEMAILMOREBeer Man is a weekly profile of beers from across the country and around the world.This week: Gulden Draak 9000Brouwerij Van Steenberge, Ertvelde, Belgiumhttp://vansteenberge.com/en[1]Gulden Draak is a standout even among the many fine Belgian ales available. It has been a standalone brand until the release of Gulden Draak 9000, a Belgian quadruple ale with a nearly 11% ABV.[2]Belgian quadruples share some characteristics with barleywine — the rich caramel malt flavor and fruity aromas and flavors such as dates and raisins. Where they differ is the slight clove and peppery flavor from the yeast, and Gulden Draak 9000 is no different.The ale from Brouwerij Van Steenberge[3], which translates as "golden dragon," comes in a 25.4-ounce bottle. It poured forth an amber liquid that quickly formed a healthy white head that left thick globs of lacing around the sides of the glass.The caramel malt was prominent in the aroma, along with dates and raisins. These aromas also came through in the flavor, along with the caramel becoming more like toffee and a bit of apricot making an appearance.The body was creamy and the carbonation a little less than medium, which is normal for the style. The ale is somewhat sweet, but again, in style and underscored by the strength of the alcohol content. You will notice the alcohol (10.7% ABV) with each sip; however, not…
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