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Business/Economy (News/Activism)

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  • Obamacare Is a Mean Law

    07/07/2015 3:56:51 PM PDT · by Kaslin · 5 replies
    Rush Limbaugh.com ^ | July 7, 2015 | Rush Limbaugh
    RUSH: Wait until you hear this next story. It is from Forbes. Here's the headline: "Small Businesses Threatened with $36,500 IRS Fines For Helping Employees with Health Costs." This was not and is not part of Obamacare. The IRS just created this, and that's one of the problems with Obamacare. Obamacare is open ended. The secretary of Health and Human Services can invent regulations. The IRS can invent new tax rules and regulations, and they've just done it. This provision was never voted on by anybody in Congress. "Small businesses that reimburse employees for the cost of premiums for individual...
  • Greece Fallout: Italy and Spain Have Funded a Massive Backdoor Bailout of French Banks

    07/07/2015 4:42:09 PM PDT · by Lorianne · 1 replies
    Council on Foreign Relations ^ | 02 July 2015 | Benn Steil and Dinah Walker
    March 2010, two months before the announcement of the first Greek bailout, European banks had €134 billion worth of claims on Greece. French banks, as shown in the right-hand figure above, had by far the largest exposure: €52 billion – this was 1.6 times that of Germany, eleven times that of Italy, and sixty-two times that of Spain. The €110 billion of loans provided to Greece by the IMF and Eurozone in May 2010 enabled Greece to avoid default on its obligations to these banks. In the absence of such loans, France would have been forced into a massive bailout...
  • Europe gives Greece 5 days to avoid bankruptcy

    07/07/2015 4:24:04 PM PDT · by Mariner · 27 replies
    The Washington Post ^ | July 7 at 7:10 PM | By Griff Witte and Michael Birnbaum
    ATHENS — An emergency summit of European leaders called to salvage Greece’s financial rescue broke up acrimoniously late Tuesday night, with officials saying the country now has just five days to avoid bankruptcy. Following a day’s worth of talks aimed at finding a way out of months of bitter deadlock, European leaders were scathing in their assessments of Greece’s proposals, calling them inadequate and demanding the Greek government return with a detailed plan by Thursday. The leaders of all 28 European Union members will then meet Sunday in what officials said will be the final chance to save Greece from...
  • A Lesson From the Greek Crisis: Safe Deposit Boxes Are Not Safe

    07/07/2015 4:01:03 PM PDT · by NYTexan · 18 replies
    mises.org ^ | July 6, 2015 | Joseph T. Salerno
    Last week the Greek government imposed capital controls to prevent cash from escaping from the Greek banking system, which is on the brink of collapse. These repressive financial measures, which were invented by "Hitler's banker" Hjalmar Schacht in the 1930s, include the closing of banks, limiting cash withdrawals from ATMs to 60 euros ($67) per day, and the banning of all money transfers via credit and debit cards to accounts held in foreign countries. Despite these Draconian controls, Greek banks continue to hemorrhage cash and, after yesterday's referendum, it is probable that the daily limit on withdrawals from ATMs will...
  • DEADLINE! Government has Until Midnight to Save Colowyo ( Coal mining Jobs: Colorado )

    07/07/2015 3:06:14 PM PDT · by george76 · 19 replies
    ColoradoPeakPolitics ^ | July 7, 2015
    The community of Craig is holding its collective breath today, waiting on the feds to decide by midnight whether they will bother to challenge a court decision that threatens to shutter the Colowyo Mine. The Interior Department has gobbled up the entire period allotted to them to decide whether to appeal. We can only hope they have used this time wisely to decide in favor of the 200 plus workers whose jobs are on the line. And the lines in the proverbial sands have been clearly drawn. On one side is the radical environmental group WildEarth Guardians, who brought the...
  • Maps reveal how EVs can be WORSE for the environment than gas-guzzling vehicles

    07/07/2015 2:09:58 PM PDT · by matt04 · 10 replies
    They have been hailed as the environmentally-friendly solution to getting around towns and cities. But new research has found electric cars have an overall impact on pollution that may be worse than gas-guzzling vehicles. The study looked at US vehicle emissions on a county-level to map where gas cars and electric vehicles cause the most damage to the environment. It found that in the east of the US, the impact of charging up EVs overnight does more harm to the environment than going to the petrol station. ... The study, by the National Bureau of Economic Research, looked at five...
  • Nobel Laureate Says Obama's 'Dead Wrong' on Global Warming

    07/07/2015 1:42:23 PM PDT · by xzins · 63 replies
    Newsmax ^ | 07 Jul 2015 | Melanie Batley
    A Nobel Prize-winning scientist who supported President Barack Obama has said that he does not believe global warming is a problem, and has openly criticized the president for his position on the issue. "I would say that basically global warming is a non-problem," Dr. Ivar Giaever announced during a speech at the 65th Nobel Laureate Conference in Lindau, Germany, last week, according to Climate Depot. Quoting Obama's warning that "no challenge poses a greater threat to future generations than climate change," Giaever said it was a "ridiculous statement." "I say this to Obama: Excuse me, Mr. President, but you're wrong....
  • TEDxAcademy - Yanis Varoufakis - A Modest Proposal for Transforming Europe (bypass of old media)

    07/07/2015 1:31:57 PM PDT · by longtermmemmory · 4 replies
    Ted Talks ^ | Oct 18, 2011 | Yanis Varoufakis
    Uploaded on Oct 18, 2011 Professor Varoufakis proposes a decentralized system for europe in order to transform it before the crisis of the system crashes Europe. He studies all the different possibilities of actions that can be taken and explains why his proposal is the best option. Studied mathematics at Essex University, received an MSc in mathematical statistics from the University of Birmingham and then, curiously, completed a PhD in... economics at Essex University. Between 1982 and 1988 he taught at the Universities of Essex, East Anglia and Cambridge. From 1988 to 2000 he lived in Sydney, where he lectured...
  • Study: Wind Farms Even More Expensive And Pointless Than You Thought

    07/07/2015 12:31:16 PM PDT · by newgeezer · 30 replies
    Breitbart ^ | 7 Jul 2015 | James Delingpole
    The cost of wind energy is significantly more expensive than its advocates pretend, a new US study has found. If you believe this chart produced by the US Energy Information Administration (EIA), then onshore wind is one of the cheapest forms of power – more competitive than nuclear, coal or hydro, and a lot more than solar. But when you take into account the true costs of wind, it’s around 48 per cent more expensive than the industry’s official estimates – according to new research conducted by the University of Utah.
  • In crisis, Chanel becomes more valuable than cash

    07/07/2015 11:57:05 AM PDT · by Kartographer · 61 replies
    Washington Post ^ | 7/7/15 | Ylan Mui
    Even those who have hoarded cash fear that the value of the euro will plummet, or that a return to the drachma could leave them stranded with the wrong currency. And so 48-year-old Sophia Marcoulakis is considering converting her cash into something more stable: a designer handbag. It’s a luxury the mother of two never would have allowed herself before the banks shut down. But now she considers it an investment, a tangible possession that the government cannot take away. “You have a feeling that money has lost its value,” said Marcoulakis, a corporate lawyer. “It’s just a number.”
  • Trump: 'Infectious disease is pouring across the border'

    07/07/2015 11:43:46 AM PDT · by Enlightened1 · 64 replies
    The Hill ^ | 07/06/15 | Jesse Byrnes
    Donald Trump doubled down on his controversial comments about illegal immigration from Mexico on Monday, saying, "infectious disease is pouring across the border." Trump issued a lengthy — nearly 900 word — statement invoking the death of a San Francisco woman shot and killed last week by a suspect who had previously been deported to Mexico five times. "This is merely one of thousands of similar incidents throughout the United States," Trump said Monday. "In other words, the worst elements in Mexico are being pushed into the United States by the Mexican government." The 2016 Republican presidential candidate said Mexican...
  • China Bans Use Of Terms “Equity Disaster” And “Rescue The Market"

    07/07/2015 11:28:26 AM PDT · by Perseverando · 13 replies
    Zero Hedge ^ | July 7, 3015 | Tyler Durden
    Although it’s not possible to know exactly what the mood is among Party officials in China regarding the inexorable slide in stock prices that’s unfolded over the course of the last three weeks, it’s reasonable to assume that at least some officials in Beijing are in the throes of Politburo panic after watching some $3 trillion in market value disappear into thin (and probably polluted) air. Amid the turmoil, China has resorted to an eye-watering array of policy maneuvers, pronouncements, and plunge protection schemes aimed at arresting the slide. Nothing has worked. Not suspending compulsory liquidation for unmet margin calls,...
  • Seven reasons why Yanis Varoufakis is now a political legend (Humor at EU, "Minister of Awesome")

    Whether you like him or not, former Greek Finance Minister Yanis Varoufakis is now a political legend. Here’s why: 1. The way he communicates With his blog and his Twitter account , he speaks directly to the people, his fans and his detractors, when he wants, how he wants it, without the media filter. Non-verbal communication is important too. The infamous video of Varoufakis ‘flipping his middle finger’ to Germany, which caused uproar in German media, may or may not have been faked by a German satirical TV show. In the end it doesn’t really matter. He may have an...
  • Chinese chaos worse than Greece

    07/07/2015 11:18:21 AM PDT · by Perseverando · 26 replies
    News.com.au ^ | July 7, 3015 | FRANK CHUNG and AFP
    WHILE the world worries about Greece, there’s an even bigger problem closer to home: China. A stock market crash there has seen $3.2 trillion wiped from the value of Chinese shares in just three weeks, triggering an emergency response from the government and warnings of “monstrous” public disorder. • LATEST: CHINESE INVESTORS FLEE FOR SAFETY And the effects for Australia could be serious, affecting our key commodity exports and sparking the beginning of a period of recession-like conditions. “State-owned newspapers have used their strongest language yet, telling people ‘not to lose their minds’ and ‘not to bury themselves in horror...
  • Where Are the China Hawks?

    07/07/2015 10:30:26 AM PDT · by Theoria · 6 replies
    The Atlantic ^ | 03 June 2015 | Peter Beinart
    On Monday, Lindsey Graham announced his presidential candidacy in a speech devoted mostly to foreign policy. He mentioned variations of the word “Islam” six times. He said “the nuclear ambitions of the radical Islamists who control Iran” constitute the “biggest threat” to the United States. He twice emphasized his devotion to Israel. And once, about halfway through his remarks, he mentioned China. In American politics today, especially in the GOP, Graham’s priorities are typical. Two years ago, during Secretary of Defense nominee Chuck Hagel’s contentious seven-and-a-half-hour grilling by the Armed Services Committee, senators mentioned Israel 178 times and Iran 171...
  • Nursing home money must be divided evenly among union, nonunion facilities (Ct corruption)

    07/07/2015 9:31:58 AM PDT · by aimhigh · 5 replies
    Journal Inquirer ^ | 07/07/2015 | Mike Savino
    Gov. Dannel P. Malloy’s administration will need to recalculate how it divides additional money in the budget for nursing homes to ensure the allocations comply with federal law. . . . (Rep) Wood questioned why the state would give an additional $9 million to 60 unionized homes across the state, while the 170 facilities that aren’t unionized would need to share the remaining $4 million.
  • Walker, Jindal poised to stonewall EPA on new climate regulations

    07/07/2015 9:14:19 AM PDT · by rktman · 24 replies
    hotair.com ^ | 7/7/2015 | Jazz Shaw
    As President Obama prepares to complete sweeping regulations aimed at tackling climate change, at least five Republican governors, including two presidential hopefuls, say they may refuse to carry out the rules in their states. The resistance threatens to ignite a fierce clash between federal and state authorities, miring the climate rules in red tape for years. The fight could also undermine Mr. Obama’s efforts to urge other nations to enact similar plans this year as part of a major United Nations climate change accord. Republican strategists say that rejection of Mr. Obama’s climate policy at the state level could emerge...
  • Cruz Summons Top Donors to Colorado Springs

    07/07/2015 9:05:01 AM PDT · by taildragger · 11 replies
    The National Review ^ | 06/25/2015 | Eliana Johson
    Texas senator Ted Cruz is summoning the biggest donors to his presidential campaign to Colorado Springs in mid-July. Cruz and his top bundlers — those who, according to a top campaign aide, “have met or exceeded their finance goals” by raising a minimum of $100,000 — will convene at The Broadmoor, the five-star resort owned by the conservative billionaire Philip Anschutz. The Colorado event, which will run from July 10-12, will serve as an opportunity for the campaign to update its top donors on the state of the race and to ask them to redouble their efforts on Cruz’s behalf....
  • Carnival Corp. gets U.S. approval for Cuba cruises [Obama loving Miami media swoons]

    07/07/2015 8:46:46 AM PDT · by SoFloFreeper · 18 replies
    Miami Herald ^ | 7/7/15 | Hannah Sampson
    Carnival Corp. is steering a course toward Cuba. The world’s largest cruise ship company announced Tuesday that it had received approval from the U.S. government to operate cruises to the island nation as a provider of cultural exchange programs.
  • Republicans make final push for prevailing wage reform this week (WI)

    07/07/2015 8:18:14 AM PDT · by afraidfortherepublic · 5 replies
    Wisconsin Watchdog ^ | 7-7-15 | M. D. Kittle
    MADISON, Wisconsin — State Rep. Rob Hutton led the Assembly effort this session to kill Wisconsin’s prevailing wage law, the wage inflator that has cost taxpayers untold billions over the past 8o-plus years. But the Brookfield Republican, perhaps seeing the writing on the wall — or the lack of votes in the Senate for full repeal — is getting behind a compromise amendment he says would go a long way to reforming prevailing wage. On Monday, Hutton announced he is co-authoring a proposal by state Sen. Frank Lasee, R-De Pere, that would repeal prevailing wage for all local units of...
  • WHO: Governments Need to Tax Cigarettes by 75 Percent or More

    07/07/2015 7:07:35 AM PDT · by rktman · 31 replies
    theblaze.com ^ | 7/7/2015 | Liz Klimas
    In its latest report on the “global tobacco epidemic,” the World Health Organization says that raising taxes is the No. 1 way to reduce use of the substance that can be harmful to human health. The sweet spot, it says, is taxing products about 75 percent of their retail price. “Raising taxes on tobacco products is one of the most effective – and cost-effective – ways to reduce consumption of products that kill, while also generating substantial revenue,” WHO Director-General Dr. Margaret Chan said in a statement. “I encourage all governments to look at the evidence, not the industry’s arguments,...
  • Economic hardships in Puerto Rico spur a mass exodus to the U.S. mainland

    07/07/2015 6:17:26 AM PDT · by Kartographer · 25 replies
    MiamiHerald.com ^ | 7/6/15 | NANCY SAN MARTIN
    “It’s hard to quit and start over but I have no choice,” said Puente, who was born in Bayamón. “My kids are worried and ask many questions but they understand. We don’t even have money to go to the movies. The cost of living is too high. “The government gives money to the people who don’t work, to those doing drugs, living on welfare,” she said. “I’m not willing to do that anymore.” The new sales tax — now surpassing that of any U.S. state — is just one of many measures underway to help resolve a financial crisis that...
  • Stock bubble in China is bursting

    07/07/2015 6:15:38 AM PDT · by Enlightened1 · 17 replies
    CNBC ^ | 07/07/15 | Matthew J. Belvedere
    Looking to bargain hunt the recent plunge in Chinese stocks—bid up in an "enormous speculative frenzy" over the past year—would be like "catching a falling knife," former Morgan Stanley Asia Chairman Stephen Roach said Tuesday, just days after returning from a trip to China. Chinese stocks were volatile again overnight, but closed well off session lows, as investors remained doubtful of the efficacy of Beijing's recent market rescue measures. "The bubble is bursting" and predicting the bottom is anyone's guess, Roach told CNBC's "Squawk Box" in an interview. He added, however, that China's efforts to transform its economy remain unchanged....
  • Jimmy Carter: America in 'Inevitable Decline,' Not Obama's Fault

    07/07/2015 5:52:35 AM PDT · by governsleastgovernsbest · 51 replies
    NewsBusters ^ | Mark Finkelstein
    From the man who brought you malaise, now an even more depressingly negative view of America . . . On today's Morning Joe, Jimmy Carter declared that America is in "inevitable decline." But no finger-pointing at President Obama, please: Carter declared that the decline is "not because of any defect or fault on the part of the President of the United States." Cue the Cole Porter: it's just one of those things. View the video here.
  • With Greece, We're Watching The Revenge Of The Debtors

    07/07/2015 5:09:03 AM PDT · by expat_panama · 56 replies
    Investors Busniness Daily ^ | 07/06/2015 | IBD Editorial
    Socialism: Indebted nations of the world are applauding the "Oxi" vote against "austerity" in Greece not so much as a victory for the common man, but because they have plans to default on the billions they owe. Brace yourself. Socialism: Indebted nations of the world are applauding the "Oxi" vote against "austerity" in Greece because they no doubt have plans to default on the billions (BEG ITAL)they(END ITAL) owe. Brace yourself. What we're witnessing is the revenge of the debtors — socialist nations that believe they're striking a blow for human rights by not paying what they owe unless creditors...
  • Are electric cars damaging YOUR region? (Short)

    07/07/2015 4:58:19 AM PDT · by Freeport · 20 replies
    Daily Mail ^ | 6 July 2015 | Ellie Zolfagharifard
    Are electric cars damaging YOUR region? Maps reveal how EVs can be WORSE for the environment than gas-guzzling vehicles In some areas, mostly in the east of the US, the impact of charging up EVs does more harm to the environment In monetary terms, electric cars are about half-a-cent worse per mile for the environment than gas-powered cars With gas cars, the worst damage to the environment, shown in red, took place in highly-populated urban areas They have been hailed as the environmentally-friendly solution to getting around towns and cities. But new research has found electric cars have an overall...
  • Kennedy's New 'Right to Dignity' Could Trump the Right to Free Speech and Religion

    07/07/2015 4:34:43 AM PDT · by IBD editorial writer · 26 replies
    Investor's Business Daily ^ | 07/06/2015 | John Merline
    When President Obama was first running for office in 2008, he promised that he'd go about "fundamentally transforming" America once in office. But it wasn't the 47-year-old Senator from Illinois — who went on to win two presidential elections — who'd bring about such a transformation. It was a 78-year-old unelected Supreme Court justice from California named Anthony Kennedy.
  • HSBC staff sacked over mock Islamic State execution ["team building exercise"]

    07/07/2015 3:59:25 AM PDT · by markomalley · 6 replies
    The Week ^ | 7/7/15
    Britain's largest bank has fired six of its employees for taking part in a video showing a mock Islamic State-style execution. The seven-second clip shows HSBC staff members in balaclavas standing over an Asian colleague dressed in an orange jumpsuit, whose hands are tied behind his back. A coat hanger is used by one the men as a pretend knife. One of them then shouts "Allahu Akbar" — Arabic for "god is greater" – a phrase used by Islamic State militants during executions. The stunt was filmed while the employees were on a corporate team-building exercise and was posted on...
  • As Greece collapses, the big loser is socialism

    07/07/2015 2:44:01 AM PDT · by RoosterRedux · 40 replies
    foxnews.com ^ | Stephen Moore
    There are no “good” options for now to end this Greek tragedy. It’s best for Greece to take the least bad option, which would be forced bankruptcy. Let Greece go bankrupt. And then let this once rich nation, hit the restart button to rebuild its economy. What I’m suggesting for Greece is what we might call the Detroit option. Put Greece under receivership and let these new authorities figure out how to manage the debt and decide who will take a hair cut – pensioners, bond holders, welfare recipients, government workers, the IMF. It’s tough love, but it’s the only...
  • Should SCOTUS Limit the Power of Public-Sector Unions

    07/07/2015 1:56:51 AM PDT · by Cincinatus' Wife · 10 replies
    The American Spectator ^ | July 7, 2015 | Gary Shapiro
    My father was a sixth-grade teacher active in his teacher union’s leadership. He instilled in me the value of unions. They helped our nation lead and prosper. Unions got laws passed limiting child labor, ensuring safe working conditions and compensating workers with a defined workweek and overtime pay. The strong, positive legacy of unions, runs counter to news the Supreme Court will hear a case next term that “could wipe out public-sector unions,” according to a recent report in Slate. I can’t help but wonder, however, if the dissolution of public sector unions would be such a bad thing. For...
  • China stocks extend falls, defying government efforts

    07/06/2015 10:10:14 PM PDT · by PotatoHeadMick · 13 replies
    Yahoo/AFP ^ | 7/7/2015 | Staffer
    Chinese shares sank further Tuesday, defying government efforts to arrest a precipitous fall that has wiped an estimated $3.2 trillion off markets and threatens the world's number two economy. The government over the weekend announced a halt to initial public offerings (IPOs) and moves to pour funds into the market to end three weeks of plunging prices. Analysts say the heavy-handed intervention throws into question the pace of China's economic reforms and the ability of the government to deflate what many describe as a stock market bubble. At midday on Tuesday, the benchmark Shanghai Composite Index was down 3.18 percent,...
  • Germany’s Power Polarizes Europe

    07/06/2015 9:59:48 PM PDT · by BenLurkin · 24 replies
    wsj.com ^ | Anton Troianovski
    [W]ith the “no” vote in Sunday’s Greek referendum on bailout terms posing the biggest challenge yet to decades of European integration, risks to the European project resulting from Germany’s rise as the Continent’s most powerful country are becoming clear. On Friday, Spanish antiausterity leader Pablo Iglesias urged his countrymen: “We don’t want to be a German colony.” On Sunday, after Greece’s result became clear, Italian populist Beppe Grillo said, “Now Merkel and bankers will have food for thought.” On Monday, Ms. Merkel flew to Paris for crisis talks amid signs the French government was resisting Berlin’s hard line on Greece....
  • YouTube Removes Christian Movie Trailer About Homosexuality ["Commercially deceptive content"]

    07/06/2015 6:24:12 PM PDT · by markomalley · 28 replies
    Truth Revolt ^ | 7/6/15 | Trey Sanchez
    Evangelist Ray Comfort has many video clips on YouTube showcasing his trademark style of sharing the Gospel with strangers on the street. But Comfort's latest project, a scripted film about the biblical view of homosexuality titled Audacity, has been removed from YouTube because of violations. Over 130,000 people have viewed the trailer, but anyone visiting today will see the following message displayed: This video has been removed as a violation of YouTube's policy against spam, scams, and commercially deceptive content. Comfort told The Blaze that he believes someone at YouTube did not like the content of the video and pulled...
  • It's time for this to change [email from the lying narcissist hisself]

    07/06/2015 5:34:41 PM PDT · by upchuck · 9 replies
    email | July 6, 2015 | BO
    When a working parent needs to put in more than 40 hours a week, that time can be measured in family dinners, tee-ball games, and ballet recitals missed -- and too often, that worker isn't even being paid fairly for the extra work. Last year, only 12% of salaried workers were eligible for overtime under current rules -- rules rooted in the 1930s. It's time for that to change. That's why I'm moving to update them for our modern economy, and right now, you have a chance to speak up in support. Over six years and 64 consecutive months of...
  • Minimum wage advocates struggle to walk the talk: Editorial (Oregonian stumbles into truth!)

    07/06/2015 5:05:21 PM PDT · by aimhigh · 8 replies
    Oregonian ^ | 07/06/2015 | Oregonian
    . . . . Consider what happened in Los Angeles. Last month, the city council approved a five-year plan to boost the minimum wage to $15 an hour. Late in the campaign for that increase, labor unions, which had led the push for a higher wage, made a surprising request: They wanted collectively bargained contracts to be exempt from the new standard. The mayor said no, but some other cities have such exemptions and the issue is unlikely to go away in Los Angeles. The unions' request reflects realities of both economics and politics. Politically, the $15 wage push is,...
  • AP Admits: Obamacare Is a Likely Factor in 'Increasing Part-Time Employment'

    07/06/2015 4:32:44 PM PDT · by Brad from Tennessee · 6 replies
    Newsbusters ^ | July 6, 2015 | By Tom Blumer
    Though the Associated Press is now basically admitting it, we all knew it. Obamacare's 30-hours-per-week definition of a "full-time employee" for employer health insurance coverage purposes has been responsible for one of the fundamentally negative changes in the American workforce — a noticeable move away from full-time to part-time employment. In a report with a current Saturday morning time stamp at the AP's national web site which originally went up on Friday, the wire service's Christopher Rugaber and Josh Boak covered the "new normal" in the job market. This writeup will receive yours truly's fuller attention later. But for now,...
  • Greek Debt Crisis Threatens Flow of Imports

    07/06/2015 4:29:59 PM PDT · by abb · 17 replies
    The Wall Street Journal ^ | July 6, 2015 | Juliet Samuel and Monica Houston-Waesch
    Greek voters’ decisive rejection of international creditors’ bailout terms adds to the pressure on foreign exporters already worried about getting paid for imports into Greece during the country’s capital controls. Some exporters have reduced the flow to Greece or insisted on payments upfront, while others keep up the imports into the country despite the increasing chance they won’t get paid. European pharmaceutical companies, for instance, are owed more than €1 billion for drugs and other goods already imported. snip Greece produces just 63% of the pork and 13% of the beef consumed in the country, according to government data. The...
  • Starbucks hiking prices in US; affected drinks will go up by 5 to 20 cents

    07/06/2015 2:19:46 PM PDT · by george76 · 50 replies
    ap ^ | July 06, 2015
    Starbucks says it's hiking prices again starting Tuesday, with the increases ranging from 5 to 20 cents for most affected drinks
  • Gun-shaped phone case on law enforcement’s radar; ‘not a cool product or a good idea’

    07/06/2015 1:23:12 PM PDT · by Red Badger · 42 replies
    bringmethenews.com ^ | 07-06-2015 | By Shaymus McLaughlin
    (Photo: Ocean County Prosecutor's Office, Facebook) That is a cellphone case sticking out of that person’s back pocket. Seriously. Here’s the rest of it, out of the pocket and up to someone’s ear. (Photo: Ocean County Prosecutor’s Office, Facebook) The photos initially started making the rounds last week, after the Ocean County, New Jersey, Prosecutor’s Office posted the images on Facebook. It’s been shared more than 14,700 times. “Please folks – this cell phone case is not a cool product or a good idea,” the office wrote. “A police officers’ job is hard enough, without having to make a split-second...
  • Donald Trump Deletes Tweet About Jeb Bush’s Wife: You Like ‘Mexican Illegals’ Because of Your Wife

    07/06/2015 7:34:00 AM PDT · by Mariner · 242 replies
    The Wrap ^ | July 6th, 2015 | By Jordan Chariton
    Donald Trump appears to have deleted a tweet he quoted that made questionable comments about Jeb Bush and his wife. On July 4th, Trump quoted another users tweet which claimed to know why Bush likes “Mexican illegals.” The tweet appeared to be live for 24 hours before Trump deleted it. Bush’s wife, Columbia, is Mexican. Bush responded to Trump’s comments about Mexican immigrants being rapists and drug lords over the weekend. “I don’t think he represents the Republican Party, and his views are way out of the mainstream of what most Republicans think.”
  • Bankruptcy is the only way Greece can fashion a new beginning

    07/06/2015 11:52:23 AM PDT · by Tolerance Sucks Rocks · 32 replies
    The Washington Times ^ | July 5, 2015 | Stephen Moore
    Almost every option facing debt-drenched Greece is bad, but there is only one that will end this Greek tragedy for good. Let Greece go bankrupt. Then let this once-rich nation, hit the restart button to rebuild its economy. What I’m suggesting for Greece is what might be called the Detroit option. Put Greece under receivership and let these new authorities figure out how to manage the debt and decide who will take a haircut and how big. Pensioners, bondholders, welfare recipients, government workers, the International Monetary Fund, all will have to settle for less — maybe a lot less. It’s...
  • What Greeks are saying to Europe: We won't be bullied

    07/06/2015 11:30:22 AM PDT · by MNDude · 67 replies
    The size of the victory went well beyond the polling consensus that the referendum was too close to call. Six out of ten Greeks said “no” to European Union demands – a staggering figure in any election. This suggests that Tsipras tapped into a deep-seated feeling among Greeks to send the EU a message. That message is not just a “no” to austerity. It’s a “no” to how Greeks have been portrayed by European politicians and media: they live off EU largesse, avoid taxes, spend lavishly. More painfully, Greeks have been portrayed as lazy, and don’t pay a price for...
  • Financial Markets Crumble As Greece Rejects Austerity, China Teeters On Collapse

    07/06/2015 10:50:57 AM PDT · by SkyPilot · 84 replies
    Addicting Info ^ | 6 July 15 | Nathaniel Downes
    In 2011 the biggest fear from the Greek financial crisis was that it would cause a ripple effect throughout the global economy. But despite years given to de-leverage themselves, banks worldwide are still exposed to Greece, carrying more derivatives than ever tied to the tiny European state. Now that the Greek citizens have rejected the austerity measures proposed by the EU, we are facing a real potential of a Greek default, which could trigger a cascade collapse of credit default swaps and cause the implosion of the German central bank. Then, a continent away, we are facing trouble of a...
  • Thomas Piketty: "Germany Has Never Repaid Its Debts; It Has No Standing To Lecture Other Nations"

    07/06/2015 10:04:32 AM PDT · by SeekAndFind · 35 replies
    Zero Hedge ^ | 07/06/2015 | Tyler Durden
    One year after Thomas Piketty sold a record number of economic textbook paperweights which virtually nobody read past page 26, once again showing the power of constant media hype, the French economist and wealth redistributor is out and about, this time pouring more gasoline on the fire started by the IMF last week when it released the Greek debt sustainability analysis showing Greece needs a 30% haircut, only to be met with stern resistance by, who else, Germany who know very well that should Greece get a debt haircut it will unleash the European dominoes which not even all...
  • NASCAR Fans Defend, Display Confederate Flags At Daytona

    07/06/2015 10:02:26 AM PDT · by Red Badger · 26 replies
    miami.cbslocal.com ^ | July 5, 2015 2:44 PM | Staff
    <p>DAYTONA BEACH (CBSMiami/AP) — A growing national controversial issue has worked its way into NASCAR.</p> <p>Steven Rebenstorf has numerous flags flying atop his canopy tent inside Daytona International Speedway.</p> <p>The Confederate flag is front and center.</p> <p>It’s been like that for years. And the 57-year-old Rebenstorf has no plans to take it down — not even if NASCAR decides to ban the embattled flag from its racetracks.</p>
  • Welcome to Hooverville, California

    07/06/2015 9:26:41 AM PDT · by Brad from Tennessee · 57 replies
    New York Times ^ | July 6, 2015 | By HÉCTOR TOBAR
    LOS ANGELES — A GENERATION ago, this West Coast metropolis became a “third world city.” At least in the rhetoric of certain East Coast thinkers. A 1991 book by David Rieff cited visitors who were stunned by “seeing nothing but brown faces, hearing nothing but Spanish on the streets.” The arrival of coffee-colored Latino masses (like me and my Guatemalan-American family), together with the spread of Mandarin and Korean logograms on street signs, led Mr. Rieff to call this the “capital of the third world.” As a native of the city, I was offended to hear it tagged with such...
  • UVM’s Bottles Unintended Consequences

    07/06/2015 8:09:59 AM PDT · by Academiadotorg · 17 replies
    Accuracy in Academia ^ | July 3, 2015 | Malcolm A. Kline
    Academics really need to study the effects of unintended consequences more often. When the University of Vermont, one of the greenest campuses in one of the greenest states, banned bottled water, the school gave students an incentive to consumer sugary drinks. “We investigated how the removal of bottled water along with a minimum healthy beverage requirement affected the purchasing behavior, healthiness of beverage choices, and consumption of calories and added sugars of university campus consumers,” Elizabeth R. Berman and Rachel K. Johnson wrote in a study which appears this month in the American Journal of Public Health. “With shipment data...
  • Obama’s Renewable-Energy Fantasy

    07/06/2015 7:40:46 AM PDT · by george76 · 19 replies
    WSJ ^ | July 5, 2015 | Rupert Darwall
    Bill Gates recently noted that the cost of decarbonization using today’s technology is ‘beyond astronomical.’ On June 30, one day after the Supreme Court struck down the Environmental Protection Agency’s regulation of mercury emissions from power plants, resident Obama committed the United States to the goal of generating 20% of its electricity from renewable sources by 2030. This would nearly triple the amount of wind- and solar-generated electricity on the national grid. The EPA ran afoul of the law by failing to conduct a cost-benefit analysis before it acted to reduce mercury emissions from coal-power plants. There is no objective...
  • Greece votes No: The European Union is dying before our eyes

    07/06/2015 7:11:47 AM PDT · by Mariner · 50 replies
    The Telegraph (UK) ^ | July 6th, 2015 | By Nigel Farage
    Despite the scaremongering and bullying from those in Brussels, we are waking today with Greece having delivered a resounding No. That comes despite EU bosses saying that it would mean a Greek exit from the Euro, not to mention the heavy economic pressure placed on the Greek people to go along with the wishes of Brussels. It is a crushing defeat for those Eurocrats who believe that you can simply bulldoze public opinion. Chief bully-boy Martin Schulz, President of the European Parliament, and other supposed leaders of the European Union did their best to terrify the Greek people into submitting...
  • Free rides for Milwaukee bus riders after union apologizes for stoppage

    07/06/2015 5:20:17 AM PDT · by Cincinatus' Wife · 12 replies
    WKOW ^ | July 6, 2015 | Kathryn Larson
    (MILWAUKEE) -- Milwaukee union leaders say they're sorry for a work stoppage last week, but cannot promise there won't be another strike. The county says everyone will be able to ride free today because of the inconvenience of last week's strike. Leaders of Amalgamated Transit Union Local 998 held a news conference overnight to apologize to riders. They say they did not walk off the job last week to punish the public. The union says they are willing to have an arbitrator settle their differences, and accuse MCTS of refusing to allow that to happen. However union leaders gave no...