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Business/Economy (Bloggers & Personal)

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  • Jobless Claims Rise 13,000, Weather Warms and IMF’s Lagarde Has Her Hand Out for More USA Gruel

    04/12/2012 9:14:20 AM PDT · by whitedog57 · 4 replies
    Confounded Interest ^ | 04/12/2012 | Anthony B. Sanders
    April 12 (Bloomberg) — More Americans than forecast filed claims for jobless benefits last week, a sign the pace of improvement in the labor market is slowing. Jobless claims increased 13,000 in the week ended April 7 to 380,000, the highest since Jan. 28, the Labor Department reported today in Washington. The median forecast in a Bloomberg News survey called for 355,000 claims. The number of people on unemployment benefit rolls and those receiving extended payments declined. On a non seasonally adjusted basis, oops! On the positive side, continuing jobless claims dropped on a SA basis. As my friend Rebel...
  • Video Shows President Obama, Top Politicians Praising Failed Green Company

    04/12/2012 7:42:25 AM PDT · by MichCapCon
    Capitol Confidential ^ | 4/9/2012 | Tom Gantert
    A video that has gone virtually unseen highlights the high-powered political rhetoric and unrealized promises put forth by President Barack Obama and Michigan’s top Democratic politicians regarding the heavily subsidized and now-troubled A123 Systems battery manufacturer. CLICK THE ARTICLE FOR THE VIDEO The video, which had just over 600 views since it was posted in Oct. 2010 on YouTube, has Obama, U.S. Secretary of Energy Steven Chu, former Michigan Gov. Jennifer Granholm and U.S. Senators Carl Levin and Debbie Stabenow singing the praises of the now-troubled advanced battery manufacturer A123 Systems. A123 Systems, which opened its lithium-ion battery manufacturing plant...
  • The Mass Failing of 'Corporate Welfare' In Michigan

    04/12/2012 6:03:56 AM PDT · by MichCapCon · 1 replies
    Michigan Capitol Confidential ^ | 4/12/2012 | Jarrett Skorup
    The failure of high profile “green energy” firms with the loss of hundreds of millions of taxpayer dollars has made national headlines in recent months. Companies like Solyndra, Beacon Power and Solar Trust have become household names as a result. Less well-known are similar failures right here in Michigan, costing state taxpayers millions. Ironically, the state government agency responsible for much of this waste has created a one-stop source documenting the hype and failed promises that have become the hallmark of such adventures. Michigan Advantage is the (now-defunct) YouTube channel for the Michigan Economic Development Corp. The intention is to...

    04/11/2012 10:14:16 PM PDT · by SaveOurRepublicFromTyranny · 13 replies
    THE FREEDOM POST ^ | April 11, 2012 | Matthew Burke
    Below is a letter I sent to directly to the McDonald's Corporation, after learning about their decision to cut ties with the American Legislative Exchange Council, or ALEC. It's high time conservatives show McDonald's, and any other company that surrenders to the threats of radical leftist groups, that we are the majority and companies who cowardly cave-in to groups who seek to destroy the very system they thrive under (free market capitalism), will pay a heavy price. We will withhold our business and reward their competitors. McDonald's has made their choice. Now we must make ours! #war...
  • California Businessman Applies To Trademark The Phrase ‘I Believe You Zimmerman’

    04/11/2012 9:57:20 PM PDT · by 2ndDivisionVet · 5 replies
    Mediaite ^ | April 11, 2012 | Jon Bershad
    A few weeks ago, news broke that Trayvon Martin’s mother had applied to trademark the phrases “Justice for Trayvon” and “I Am Trayvon.” The news seemed to garner a mixed reaction. Some people found it slightly distasteful, while others saw it as both a way for a woman to gain any kind of restitution following an unspeakable tragedy as well as stopping others from misusing her son’s memory. Now, news has broke that some guy completely unrelated to the case has trademarked the phrase “I believe you Zimmerman.” In response to this news, some people found it to be a...
  • Obama's 'deficit reduction' plan = He can only contain his inner Lenin for so long

    04/11/2012 5:44:45 PM PDT · by Starman417 · 3 replies
    Flopping Aces ^ | 04-11-12 | DrJohn
    The real Vladimir Ilyich Obama stands up As part of his fantasy "deficit reduction" plan, Barack Obama proposed a number of new taxes. One of them was the so-called "Buffett Rule." When it was initially proposed, it was part of the plan to reduce the deficit. 'Buffett rule'President Obama "Middle-class families shouldn't pay higher taxes than millionaires and billionaires," he said. "It's hard to argue against that." Mr Obama suggested a "Buffett rule", which would see Americans who earn more than $1m pay the same rate of tax as those who earn less. The proposal refers to billionaire financier Warren...
  • What did pass the Maryland General Assembly

    04/11/2012 5:15:04 PM PDT · by Tolerance Sucks Rocks · 3 replies
    The Washington Post ^ | April 10, 2012 | Greg Masters
    Although negotiations over a package of tax increases and a proposed casino collapsed Monday night, the Maryland General Assembly passed a lot of bills this session — 791, to be exact. Of those, 96 percent were passed in the last week, including hundreds in the hours and minutes before midnight on Monday. Here are some highlights from the 90-day session’s last day: STORMWATER FEE The Senate spent much of the session’s waning hours fiercely debating a stormwater fee bill that was on few people’s radar earlier in the session. The bill requires localities to fund projects to reduce polluted runoff...

    04/11/2012 5:01:24 PM PDT · by zencycler · 23 replies
    Self - Vanity | 4/11/12 | self
    LET'S FACE IT - YOU CAN'T TAX THE RICH. ....I'm waiting for the politicician who can clearly and effectively communicate this simple economic truth. If we define "rich" as those persons who run businesses which ultimately control the wages earned and prices paid by the non-rich, then ALL government costs will, in one way or another, get passed on to those who do not have this control. They - the non-rich - will either pay this cost directly in the form of taxes, or indirectly (passed on) in the form of higher costs and/or lower wages. To Illustrate: I am...
  • We Need Gold Standard to Stabilize Dollar

    04/11/2012 3:04:03 PM PDT · by SaveOurRepublicFromTyranny · 17 replies ^ | April 9, 2012
    The dollar has lost 85 percent of its purchasing power since the government scrapped the gold standard in the early 1970s, and it's up to Congress to obey the Constitution and bring the system back, says historian and investor Lewis E. Lehrman, author of the book "The True Gold Standard."
  • Warren Buffett Sued by Obama’s IRS

    04/11/2012 2:52:14 PM PDT · by Whenifhow · 8 replies
    Obama and his rich pals think you are just another useful idiot like the Occupy (OWS) crowd. While Obama seeks to enact the “Buffett Rule” to place a higher tax burden on families/small businesses that make $250K per year or more, his Internal Revenue Service (IRS) is suing Warren Buffett. Obama’s pal just doesn’t want to pay his taxes… but he has no problem stumping for Obama and calling for a higher tax burden on families and small businesses. “Get this: Uncle Sam is suing Warren Buffett’s company over taxes. Yes, taxes. The US government, in a little-followed case in...
  • The unMitigated Hubris of putting Personal Legacy before Country

    04/11/2012 1:36:08 PM PDT · by publius321 · 1 replies ^ | 4/11/2012 | Scott Ryan
    It is NOT over for conservatives if we have the will and the fortitude to use our God given brains instead of capitulating to the easy, thoughtless choice. This is just like watching the film "Invasion of the Body Snatchers" when by the end of the film, the people of the resistance give in to their urge to go to sleep. Are we those people - or do we have the courage to see this through to the end? Is America worth the fight? Those pseudo-journalists at Fox who MANUFACTURED and defrauded their viewers by sitting on facts about Mitt...
  • Obama to perpetuate class warfare with Buffett Rule!

    04/11/2012 1:29:40 PM PDT · by JOHN W K · 2 replies
    4-11-12 | JOHNWK
    See: Obama takes 'Buffett Rule' on the road “The president believes in standing up for the middle class and making our tax system fairer, where everyone plays by the same set of rules, in order to ensure the economic security of the middle class,” the White House said in a release announcing the event at Florida Atlantic University in Boca Raton. For those who are not familiar with the ``Buffett Rule``, it is a class warfare tax whose roots are found in the Marxist handbook, and is designed by conniving politicians to buy the votes of one economic class by...
  • FHFA’s DeMarco: Several Weeks Before a Decision on Principal Reductions (Jurassic Park Alert!)

    04/11/2012 11:06:53 AM PDT · by whitedog57
    Confounded Interest ^ | 04/11/2012 | Anthony B. Sanders
    Today, FHFA updated their study of principal reductions and Director Ed DeMarco presented the new results. He did NOT announce any trial program or agreement with the Obama Administration about using Fannie Mae and Freddie Mac to salvage the housing market. But he did say that an announcement will be out in a few weeks. As I said at Brookings, we have very little empirical evidence (other than anecdotal stories) that principal reductions work. We have not been through 3-4 years of mortgage modifications with principal reductions to see if they are as effective as forbearance in preventing defaults. FHFA...
  • Tax Code Is Already Steeply Progressive

    04/11/2012 10:59:06 AM PDT · by 92nina · 10 replies
    ATR ^ | 2012-04-10 | Ryan Ellis
    What percent of all tax revenues do high-income households pay?   Income Tax All Federal Taxes Top 1% ($344,000 +) 39.5% 28.1% Top 5% ($155,000 +) 61% 44.3% Top 10% ($112,000 +) 72.7% 55% Lower Half ($32,000 -) 2.4% 2.6% Middle Quintile ($65,000) 4.6% 9.2% All Households 100% 100% What is the average tax rate paid by high-income households?   Income Tax All Federal Taxes Top 1% ($344,000 +) 19% 29.5% Top 5% ($155,000 +) 17.6% 27.9% Top 10% ($112,000 +) 16.2% 26.7% Lower Half ($32,000 -) 1.9% 9.6% Middle Quintile ($65,000) 3.3% 14.3% All Households 9.3% 20.4% IRS Statistics...
  • Green Eyeshadow On Red Ink: 'Green' Jobs Fail To Live Up To The Hype

    04/11/2012 8:06:09 AM PDT · by MichCapCon · 1 replies
    Michigan Capitol Confidential ^ | 4/10/2012 | Tom Gantert
    In 2010, then-Gov. Jennifer Granholm touted the “energy economy” with helping turn around Michigan’s economy. Granholm boasted that the state had 109,000 green jobs in 2009 and said, "The new energy economy is already here, infusing our state with good-paying, permanent jobs.” From 2004 to 2009, Gov. Granholm said Michigan had invested $1 billion to promote “green manufacturing.” Yet, green jobs account for just 2.1 percent of the total jobs in Michigan today, according to a government report. The Bureau of Labor Statistics recently released a report that Michigan was 12th in the nation in providing jobs related to “green”...
  • Steve Skidmore Explains Foreclosure Fraud & What You Can Do About It--10.Apr.2012

    04/11/2012 7:33:46 AM PDT · by appeal2
    The Financial Survival Network ^ | 04/11/2012 | Kerry Lutz presents: Steve Skidmore of explains the rampant mortgage and foreclosure fraud that have taken place and how you can protect yourself from it. Many of you have asked me what you can do to stop from getting wrongly thrown out of your home. Well, the answer is, there's a lot you can do if your loan has been fraudulently documented and illegally transferred. The Federal Government has recently settled a lawsuit over illegal foreclosures with the major banks around the country. This settlement appears to open the way for banks to put their foreclosure operations back into full...
  • Russia Has the Wheels; Now it Needs the Roads

    04/11/2012 5:44:56 AM PDT · by cunning_fish · 9 replies
    Voice of America ^ | April 10, 2012 | James Brooke
    Russians get perverse pleasure out of taking photos of their bad roads and then posting the pictures on the internet. This year, for the first time, Russia is expected to top Germany as Europe’s largest car market. With car purchases increasing by 20 percent in Russia this year, the Center of Automotive Management predicts that Russians will buy 3.2 million vehicles during 2012, slightly more than Germany. So how are Russia’s roads? According to the World Economic Forum’s Global Competitiveness Report, Russia ranks number 125 out of 139 countries on the quality of its highway infrastructure. According to another report,...
  • James Fiorillo Makes Plea Deal With Florida Prosecutors In Slaying Of Gus Boulis

    04/11/2012 4:26:31 AM PDT · by AtlasStalled · 1 replies
    Friends of Ours ^ | 04/11/12 | Friends of Ours
    Last week James "Pudgy" Fiorillo pled guilty for his role in the 2001 murder of Miami Subs founder and casino boat operator Gus Boulis, and agreed to testify against co-defendants Anthony "Little Tony" Ferrari and Anthony "Big Tony" Moscatiello as reported by Rafael A. Olmeda for the Sun Sentinel: "Prosecutors say Moscatiello, Ferrari and Fiorillo worked together to kill Boulis, who had sold his SunCruz casino boat fleet to a partnership led by Washington, D.C., lobbyist Jack Abramoff and his associate, Adam Kidan, in a deal that was later determined to be laced with fraud. Kidan had hired Moscatiello, who...
  • Live from New York – It’s The Hunger Games!

    04/10/2012 7:32:15 PM PDT · by Starman417 · 2 replies
    Flopping Aces ^ | 04-10-12 | Brother Bob
    Sometimes even a 24/7 news cycle can get so heavily dominated by a handful of stories that everything else seems to disappear. Just as we started to wind down from the tale of a future 1 percenter complaining that a religious-affiliated school should pay for her birth control, we've jumped into the Trevon Martin case becoming the focal point of the left's "Keep Hate Alive" campaign for 2012, along with leftist leadership starting to launch pre-emptive attacks against the Supreme Court for potentially committing that horrific act of judicial activism known as striking down an unconstitutional law. In this...
  • (Vanity) A Thorn By Any Other Name

    04/10/2012 6:28:31 PM PDT · by grey_whiskers · 10 replies
    grey_whiskers ^ | 04-10-2012 | grey_whiskers
    I wish I had thought of this sooner. But you know, we all ought to start calling Obamacare by a new name, the "Barack Obama Health Insurance Commerce Act". BOHICA. I guess Sarah Palin won't be losing any sleep over this, what with her "Death Panels" tweet and all. Still, every little bit helps.