Bill McBride at Calculated Risk has two must-read paragraphs on the so-called Fiscal Cliff:
My baseline forecast assumes a compromise on the fiscal slope (more of a "slope" than a "cliff", and January 1st is not a drop dead date).
My current guess is an agreement will be reached AFTER January 1st - so that the Bush tax cuts can expire and certain politicians can claim they didn't vote to raise taxes (silly, but that is politics).
I expect the relief from the Alternative Minimum Tax (AMT) will be extended, the tax cuts for low to middle income families will be reenacted, and that most, but not all, of the defense spending cuts will be reversed (aka "sequestration"). However I think the payroll tax cut will probably not be extended, and tax rates on high income earners will increase a few percentage points to the Clinton era levels.
This is a very sensible, and important antidote to some of the Cliff hyste…
The hurricane showed the common ground between the US and Haiti. But I wonder if both of the countries I love can recover from the storm.
November 7th, 2012 | by Guest Blogger
Sophia Lafontant is Oxfam America’s lead organizer for Haiti.
It is amazing how quickly life can change. In a matter of hours, people in New York’s Breezy Point, The Rockaways and Staten Island, in New Jersey’s Atlantic City, in Cuba, Jamaica, and Haiti were all faced with the reality of lost property, death, and power outages. It makes me realize how interconnected we all are and dependent on our families, friends, elected officials, and the kindness of strangers to help us when we cannot help ourselves.
I live in Washington, D.C., and while Sandy came through here too, it was not with the same force. While holed up in my apartment for the better part of two days, my mind and thoughts often raced to Haiti, where 54 people reportedly died in the storm, and my extended family and friends still there. Both my parents…
Longer than expected cool weather has delayed harvesting of mangos from the Burdekin/Bowen area just south of Townsville in Queensland.
Wet weather is delaying the mango harvest in far north Queensland (Michael Cavanagh)
Grower Paul Le Feuvre says his crop is likely to be down around 25 per cent.
He says the delay makes it difficult to move the fruit as the festive season kicks in.
"We normally come in a time frame that I regard as the best time frame from the point of view of demand which is just before Christmas. Christmas to New Year the supply chain blocks up and it's a bit hard to get the mangos to move through."
EL mandatario Otto Pérez, luego de declarar alerta roja, dijo que la cifra de muertos se elevó a 48 y que se reporta a 23 personas desaparecidas, luego de que durante la jornada se hablara de unas 100.
El epicentro del sismo de magnitud 7.4 fue en el mar, a 24 kilómetros al suroeste del pueblo portuario de Champerico, según informó el Servicio Geológico de Estados Unidos (USGS).
Jue, 08/11/2012 - 09:02
Guatemala. El fuerte sismo que sacudió a Guatemala este miércoles dejó al menos 48 muertos y varios heridos principalmente por el derrumbe de viviendas en el norte del país, que fue declarado en estado de emergencia tras el peor terremoto en más de 35 años.
El epicentro del sismo de magnitud 7.4 fue en el mar, a 24 kilómetros al suroeste del pueblo portuario de Champerico, según informó el Servicio Geológico de Estados Unidos (USGS por su sigla en inglés).
"Es una tristeza saludar aquí a las personas que están esperando encontrar a sus…