Free Republic 3rd Quarter Fundraising Target: $85,000 Receipts & Pledges to-date: $21,238
24%  
Woo hoo!! And the first 24% is in!! Thank you all very much!!

Business/Economy (News/Activism)

Brevity: Headers | « Text »
  • Our Government-Created Financial Crisis (Walter Williams)

    12/10/2012 10:40:44 AM PST · by jazusamo · 18 replies
    Creators Syndicate ^ | December 12, 2012 | Walter E. Williams
    Suppose you saw a building on fire. Would you seek counsel from the arsonist who set it ablaze for advice on how to put it out? You say, "Williams, you'd have to be a lunatic to do that!" But that's precisely what we've done: turned to the people who created our fiscal crisis to fix it. I have never read a better account of our doing just that than in John A. Allison's new book, "The Financial Crisis and the Free Market Cure." Allison is the former CEO of Branch Banking and Trust, the nation's 10th largest bank. He assembles...
  • European renewable power grid rocked by cyber-attack

    12/10/2012 10:11:32 AM PST · by Olog-hai · 2 replies
    EurActiv ^ | 10 December 2012 | Arthur Neslen
    A German power utility specialising in renewable energy was hit by a serious cyber-attack two weeks ago that lasted five days, knocking its internet communications systems offline, in the first confirmed digital assault against a European grid operator. “It was a DOS (‘Denial Of Service’) attack with a botnet behind it,” Boris Schucht, the CEO of 50Hertz told EurActiv on the fringes of a Brussels renewables conference. “It blocked our internet domains so that in the first hours, all email and connectivity via the internet was blocked.” DOS attacks involve thousands of requests being sent to a server each second...
  • Office supplies chain, Staples, to offer in-store 3D printing

    12/10/2012 9:22:15 AM PST · by null and void · 21 replies
    Electronic Products ^ | 12/7/12 | Jeffrey Bausch
    Announcement marks first time major franchise will carry technology Staples, the popular office supplies store, has announced that its Printing Systems Division will work with Mcor Technologies Ltd. to launch a low-cost, full-color 3D printing service called “Staples Easy 3D”. The program will be hosted online and offers everyone from architects to engineers to parents the ability to create photo-realistic 3D printed products. All that’s needed is an electronic design file be uploaded to the online Staples Office Center. After that, the user can head down to the store to pick up the finished model, or otherwise opt to have...
  • A real cliff of incompetence, excuses

    12/10/2012 8:50:11 AM PST · by AngelesCrestHighway · 4 replies
    MSN Money ^ | 12/07/12 | Bill Fleckenstein
    OK, everyone, buckle up. This is going to be a bumpy ride. First off, I would like to turn to our eventual funding crisis. Yes, I have been talking about this for some time, and no, it hasn't started yet. But it will. One day the markets will take the printing press away from central bankers by spurning their bonds, and governments needing to get their debt funded will see rates rise dramatically. Whether it will start here, in Japan or somewhere else I don't know, nor do I know when it will start. But I do know that the...
  • Yep: Bankrupt Obama-stimulus recipient goes to the highest bidder, the highest bidder being China

    12/10/2012 8:19:54 AM PST · by SeekAndFind · 3 replies
    Hotair ^ | 12/10/2012 | Erika Johnsen
    Let me get my obligatory free-trade qualifier out of the way here first: It's not so much that there's anything at all wrong with businesses buying and selling on the international arena, because foreign markets may have demands for products we don't, and we all stand to make money off of one another in a mutually beneficial and productive way. Free-trade is not a zero-sum game, and everybody wins.The problem here is that in the case of A123 Systems, a manufacturer of lithium-ion batteries for electric cards, the Obama administration spoon-fed hundreds of millions of dollars of taxpayer money into...
  • Arabs team with Russia, China to push Internet control

    12/10/2012 8:10:43 AM PST · by george76 · 8 replies
    Examiner ^ | December 10, 2012 | Anthony Martin
    certain Arab nations have teamed up with Russia and China to attempt to place the World Wide Web under the control of the International Telecommunications Union. At the World Conference on International Telecommunications currently meeting in Dubai Dec. 3-14, a group of Arab states along with Russia and China proposed that nations strictly control Internet companies, leading many critics, especially in the United States, to charge that the proposal would severely hamper Internet freedom. ... nations with totalitarian forms of government, such as Russia and Muslim nations, have also insisted that strict limits be placed on access to information on...
  • The student loan debt bomb (Now tops total credit card debt for the first time)

    12/10/2012 8:06:56 AM PST · by SeekAndFind · 14 replies
    American Thinker ^ | 12/10/2012 | Rick Moran
    Bill Bennett has an excellent column at CNN on the looming crisis of excess student debt: Last week, the Federal Reserve Bank of New York reported that student loan debt increased to $956 billion, more than auto loan debt or credit card debt. More worrisome, student loan 90-day delinquency rate increased to 11% this past quarter and for the first time exceeds the "serious delinquency" rate for credit card debt.Student loan debt is reaching bubble-bursting levels. By comparison, in October 2007, the start of the subprime mortgage crisis, 16% of subprime mortgages were 90 days delinquent, according to Federal...
  • Why Work Anyway?

    12/10/2012 7:56:08 AM PST · by Kaslin · 116 replies
    Townhall.com ^ | December 10, 2012 | Morgan Brittany
    I was shocked by something I heard from one of my friend’s sons the other day.  He is a college graduate with a business degree and fortunately has a job.  We were all talking about the fiscal cliff and how it would affect people making over $250K a year.  His reaction to the top rate rising to 39% along with the California State tax increase due to Proposition 30 prompted him to say, “Whew, I think I dodged a bullet! I was up for a promotion with a pay raise but someone else got it. I’m pretty sure my taxable...
  • Dean Exposes Obama's Need For Middle Class Tax Hike

    12/10/2012 7:52:59 AM PST · by KeyLargo · 23 replies
    IBD Editorials Dean Exposes Obama's Need For Middle Class Tax Hike Posted 12/06/2012 06:52 PM ET Taxes: The president says all he wants is for "the wealthiest Americans to pay a little more." But far-left Howard Dean just reminded us Obama wants a lot more from all taxpayers. Interviewed by MSNBC's Lawrence O'Donnell on Wednesday, the ex-Vermont governor and 2004 Democratic presidential candidate shocked many with comments that really should have shocked no one. "This is, initially, gonna seem like heresy from a progressive," Dean said. "The truth is, everybody needs to pay more taxes, not just the rich. That's...
  • The End of the Wave: The northward surge of Mexicans into the United States may be over

    12/10/2012 7:37:11 AM PST · by SeekAndFind · 32 replies
    National Review ^ | 12/10/2012 | Michael Barone
    Is mass migration from Mexico to the United States a thing of the past? At least for the moment, it is. Last May, the Pew Hispanic Center, in a study based on U.S. and Mexican statistics, reported that net migration from Mexico to this country had fallen to zero from 2005 to 2010. Pew said 20,000 more people moved to Mexico from the United States than from there to here in those years. That’s a vivid contrast with the years 1995 to 2000, when net inflow from Mexico was 2.2 million people. Because there was net Mexican immigration until 2007,...
  • Under Obama, Economic Stagnation Is the New Normal

    12/10/2012 7:33:51 AM PST · by SeekAndFind · 5 replies
    RCM ^ | 12/10/2012 | Louis Woodhill
    Friday's "Employment Situation" report from the Bureau of Labor Statistics (BLS) showed that 5.4 million Americans have dropped out of the labor force since Barack Obama took office. The labor force declined by 350,000 in November, despite an increase of 191,000 in our working age population. The unprecedented decline of labor force participation under President Obama is not news. However, it also appears that millions of brain cells have dropped out of the mental labor force of America's economic analysts. How else can we account for headlines like these? "Jobs report: A pleasant surprise" (Jared Bernstein) "The employment emergency is...
  • Gallup Reports Upper-Income Spending Worst November Ever

    12/10/2012 7:25:08 AM PST · by Kaslin · 21 replies
    Townhall.com ^ | December 10, 2012 | Mike Shedlock
    With the generally upbeat spending reports on black Friday and cyber-Monday, Gallup paints a different point of view in its most recent poll that shows U.S. Consumer Spending Holds Steady, Consistent With 2011Americans' self-reported daily spending averaged $73 in November, essentially on par with September and October. It is also similar to the $71 Americans spent last November and slightly higher compared with November 2010 and 2009 -- but still much lower than in November 2008. November 2012 vs. November Prior Years U.S. Upper-Income Spending Sees Worst November on Record Upper-income Americans' (defined as those making at least $90,000 per...
  • Cyprus Makes Big Concessions for Bailout [De Facto Loss of Sovereignty]

    12/10/2012 7:20:23 AM PST · by DeaconBenjamin · 2 replies
    Spiegel.de ^ | 12/10/2012 | By Christian Reiermann and Markus Dettmer
    Dimitris Christofias had a serious look on his face as he spoke of a "gut-wrenching" decision, but a "necessary evil." The Cypriot president was not giving his people good news. Christofias, in his televised address last Tuesday, reminded viewers of his country's darkest hour, the Turkish invasion of northern Cyprus in 1974. In return for billions of euros, the "troika," made up of the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF), will essentially take control of the Mediterranean island.The Cypriot government and representatives of the troika negotiated for almost five months over the terms...
  • Scarborough: 'Conservatism Is A Racket For A Lot Of People To Get Very, Very Rich'

    12/10/2012 6:43:34 AM PST · by governsleastgovernsbest · 67 replies
    NewsBusters ^ | Mark Finkelstein
    Is it possible to have a principled opposition to raising tax rates to avoid the fiscal cliff? It seems that Joe Scarborough doesn't think so. On today's Morning Joe, Scarborough suggested that those on the "far, far right" in the "conservative entertainment complex" and in the ranks of political consultants who oppose tax rate hikes do so out of base material motives. According to Scarborough, speaking of such "far, far right" tax-increase opponents, "conservatism is a racket for a lot of people to get very, very rich." View the video here.
  • Socialism, Capitalism Top Ten Words

    12/10/2012 6:04:32 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | December 10, 2012 | Charles Payne
    Merriam Webster is out with its top ten words of 2012. Heading the list is a tie between "Socialism" and "Capitalism." Maybe not a surprise that these words would make the list, but I'm somewhat taken aback there would be a tie at the top of the list. Anyone that believes capitalism brought the nation to greatness should be alarmed at the short-term reaction of those that think capitalism brought the nation to the brink. There is a full-fledged war afoot, and maybe those that love capitalism and how it created the road map to the American Dream, are too...
  • As "fiscal cliff" clock ticks, Obama hits the road again

    12/10/2012 5:57:30 AM PST · by Cronos · 19 replies
    CBS ^ | 10.Dec.2012 | CBS
    <p>Although the president has been criticized by Republicans for "campaign style" rallies on the "fiscal cliff," the president today will hit the road when he heads to Michigan to tour Daimler's Detroit Diesel Corporation. The White House said he will talk again about the "fiscal cliff" and, if a deal isn't struck before the end of the year, how devastating it will be to the economy and the middle class. His remarks come on the heels of his weekly address over the weekend where he repeated that he won't budge on letting the Bush-era tax cuts for the wealthy expire.</p>
  • The Flat Tax the U.S. Effectively Already Has

    12/10/2012 5:49:28 AM PST · by Kaslin · 2 replies
    Townhall.com ^ | December 10, 2012 | Political Calculations
    Harvard economist Greg Mankiw offered a unique observation following the release of the findings of a CBO study on the effective marginal tax rates that many Americans really pay on their incomes, after taking into account any government assistance they might receive and the income levels at which their welfare benefits phase out: The Congressional Budget Office has a new study of effective federal marginal tax rates for low and moderate income workers (those below 450 percent of the poverty line). The study looks at the effects of income taxes, payroll taxes, and SNAP (the program formerly known as Food...
  • Meet the Leading Opponent to Obamcare

    12/10/2012 5:24:29 AM PST · by Kaslin · 5 replies
    Townhall.com ^ | December 10, 2012 | Daniel J. Mitchell
    Having dealt with queries about whether I hate Republicans and whether my views have changed on anything, the newest edition of “Question of the Week” asks for my opinion about Senator DeMint moving over to become President of the Heritage Foundation. Variants of this question came from several people, perhaps because folks know that I spent more than 15 years working for Heritage.The short answer is that I think DeMint’s move generally is a good thing.But first, the bad news. It is unfortunate that Senator DeMint no longer will be in the Senate. We need as many “Tea Party” lawmakers...
  • Foodstamps Soar By Most In 16 Months: Over 1 Million Americans Enter Poverty In Last Two Months

    12/10/2012 3:57:01 AM PST · by Perdogg · 31 replies
    And we thought last month's delayed foodstamp data was bad. The just reported foodstamp number for September was a doozy, with 607,544 new Americans becoming eligible for foodstamps, as a record 47.7 million Americans are now living in poverty at least according to the USDA. The monthly increase was the highest since May 2011, and with August's 421K new impoverished America, over 1 million Americans made the EBT card their new best friend. It is unclear just which atmospheric phenomenon will get the blame for this unprecedented surge in poverty, which comes at a time when the pre-election economic data...
  • Adams 2016

    12/10/2012 3:22:03 AM PST · by Kaslin · 34 replies
    Townhall.com ^ | December 10, 2012 | Mike Adams
    I'm getting sick and tired of people asking me why I'm running for president in 2016. The answer is that I have to run. The GOP can't run another big government establishment candidate masquerading as a true conservative. So I'm stepping up to the plate. And I'm going to win, largely because my policies will appeal to young people, libertarians, and Reagan Democrats. But that’s enough of the generalities. Here are the twelve specific changes you can expect when I become your 45th president. 1. Passing the 28th Amendment. There is a proposed 28th Amendment floating around the Internet. It...
  • Walmart Bails On Obamacare-Sticks Taxpayers With Employee Healthcare Costs

    12/10/2012 3:03:18 AM PST · by lowbridge · 105 replies
    forbes ^ | december 9, 2012 | rick ungar
    After making a big deal of publicly supporting the Affordable Care Act, Walmart—the nation’s largest private sector employer—is joining the ranks of companies seeking to avoid their obligation to provide employees with health insurance as required by Obamacare. It was not all that many years ago that Walmart announced, in response to harsh criticism over the low pay provided to Walmart ‘associates’, that the company would provide a healthcare benefit to its part-time, low earning employees. The uncharacteristically generous nod to worker needs was short lived as the company partially pulled back on the commitment in 2011, citing premium rate...
  • Chrysler Auto Workers fired after Wolchek investigation are back on the job

    12/10/2012 2:32:21 AM PST · by equaviator · 17 replies
    MyFoxDetroit ^ | ec 07, 2012 | Rob Wolchek
    DETROIT (WJBK) - Two years ago Fox 2 Problem Solver Rob Wolchek got a tip from someone inside Chrysler's Jefferson North Assembly plant about what some workers were doing at the park on their lunch break. For several days our TV crews followed some of these workers. Play the video above to see what these guys were doing before they went back to work in the factory in 2010. When we showed the video to executives from Chrysler they were embarrassed. The company had just been bailed out by the government and president Obama stood on the floor of the...
  • Obama visiting Michigan plant to push tax plans

    12/10/2012 2:20:25 AM PST · by equaviator · 36 replies
    Examiner dot com ^ | December 6, 2012 | J Pace
    <p>REDFORD TOWNSHIP, Mich. (AP) — The White House says President Barack Obama will visit a suburban Detroit auto plant Monday afternoon, a visit an aide says is to part of an effort to make the case for raising tax rates on wealthier Americans.</p>
  • World risks fresh credit bubble, Switzerland's BIS warns

    12/09/2012 11:29:13 PM PST · by bruinbirdman · 1 replies
    The Telegraph ^ | 12/9/2012 | Ambrose Evans-Pritchard
    Asset prices across the world have risen to heady levels not seen since the credit boom five years ago and may be losing touch with economic reality yet again, the Bank for International Settlements has warned. “Some asset prices appeared highly valued in a historical context relative to indicators of their riskiness,” said the bank in its quarterly report. Yields on morgtage bonds have fallen to the lowest level ever recorded. Spreads on corporate debt have narrowed to the wafer thin margins of 2007, even though default rates are currently three times higher than they were then for junk bonds...
  • EU: Paris hit by wave of street muggings and grave robberies

    12/09/2012 10:52:19 PM PST · by bruinbirdman · 11 replies
    The Telegraph ^ | 12/9/2012 | Henry Samuel, Paris
    Austerity-struck Paris has been hit by a wave of street muggings and grave robberies with thieves prepared to exhume bodies to steal gold and jewellery. Last week, police in the French capital arrested three people as part of a widening grave robbery investigation. There was further public outrage after two masked intruders shot dead a 52-year old precious metal worker when he tried to stop them stealing gold from his foundry in the chic central Parisian district of Le Marais. Police said sky-high market prices for precious metals are acting as a magnet for thieves with scant regard for the...
  • EU: Italian government to quit as Berlusconi returns

    12/09/2012 10:47:35 PM PST · by bruinbirdman · 4 replies
    The Telegraph ^ | 12/9/2012 | Josephine McKenna
    Mario Monti, the Italian prime miniser, has told the country's president he plans to resign after Silvio Berlusconi's party withdrew crucial support in parliament from the technocratic government. President Giorgio Napolitano's office announced Mr Monti's decision after they met for nearly two hours of talks late Saturday at the Quirinale palace, the president's official residence in Rome. An offical statement released by the president's office said Mr Monti had told the head of state that without the support of Mr Berlusconi's party, "he cannot further carry out his mandate, and consequently made clear his intention to resign" . Mr Monti's...
  • Europe clings to scorched-earth ideology as depression deepens

    12/09/2012 10:38:45 PM PST · by bruinbirdman · 22 replies
    The Telegraph ^ | 12/9/2012 | Ambrose Evans-Pritchard
    Like the generals of the First World War, Europe’s leaders seem determined to send wave after wave of their youth into the barbed wire of tight money, bank deleveraging, and fiscal austerity a l’outrance. The strategy of triple-barrelled contraction across a string of inter-linked countries has been the greatest policy debacle since the early 1930s. The outcome over the last three years has been worse than forecast at every stage, in every key respect. The eurozone has crashed back into double-dip recession. It will contract a further 0.3pc next year, according to a chastened European Central Bank. The ECB omitted...
  • Boehner, Obama Meet Face-to-Face on Fiscal Cliff

    12/09/2012 9:31:16 PM PST · by Olog-hai · 17 replies
    ABC News ^ | Dec. 9, 2012 | David Kerley
    For the first time in more than three weeks, President Obama and House Speaker John Boehner met face-to-face today at the White House to talk about avoiding the fiscal cliff. … The White House afternoon talks, conducted without cameras or any announcement until they were over, came as some Republicans were showing more flexibility about approving higher tax rates for the wealthy, one of the president’s demands to keep the country from the so-called fiscal cliff—a mixture of across-the-board tax increases and spending cuts that many economists say would send the country back into recession. “Let’s face it. He does...
  • California School District Owes $1 Billion On $100 Million Loan

    12/09/2012 9:16:58 PM PST · by Biser · 21 replies
    npr ^ | Dec 7, 2012 | Richard Gonzales
    More than 200 school districts across California are taking a second look at the high price of the debt they've taken on using risky financial arrangements. Collectively, the districts have borrowed billions in loans that defer payments for years — leaving many districts owing far more than they borrowed.
  • Foodstamps Soar By Most In 16 Months: Over 1 Million Americans Enter Poverty In Last Two Months

    12/09/2012 8:56:14 PM PST · by Errant · 11 replies
    Zerohedge ^ | 12/09/12 | Tyler Durden
    And we thought last month's delayed foodstamp data was bad. The just reported foodstamp number for September was a doozy, with 607,544 new Americans becoming eligible for foodstamps, as a record 47.7 million Americans are now living in poverty at least according to the USDA. The monthly increase was the highest since May 2011, and with August's 421K new impoverished America, over 1 million Americans made the EBT card their new best friend. It is unclear just which atmospheric phenomenon will get the blame for this unprecedented surge in poverty, which comes at a time when the pre-election economic data...
  • Nine Beers Americans No Longer Drink

    12/09/2012 7:40:10 PM PST · by shove_it · 217 replies
    Yahoo ^ | 7 Dec 2012 | Michael B. Sauter and Alexander E.M. Hess
    After three years of declining sales, shipments of domestically sold beer are up by more than 1% in the United States this year. Sales of light beer and specialty beer, such as Budweiser Light Platinum, Shock Top, and Blue Moon, have been the driving force in the resurgence of U.S. breweries. While sales of specialty, craft, and small-market beers have improved dramatically, many of the traditional, full-calorie beers that were once the staples of most breweries have fallen behind. In the five years ending in 2011, sales of Budweiser, which was once the top-selling beer in the country for years,...
  • Newt Gingrich Schools Lawrence O'Donnell On Clinton Tax Hikes

    12/09/2012 7:15:34 PM PST · by Kaslin · 13 replies
    NewsBusters.org ^ | December 9, 2012 | Noel Sheppard
    Former Speaker of the House Newt Gingrich on Sunday gave Lawrence O'Donnell a much-needed education on the economic impact of the Bill Clinton tax hikes in the '90s. As O'Donnell precipitated the exchange, he perfectly demonstrated why MSNBC commentators are far too liberally biased to be invited on NBC's Meet the Press (video follows with transcript and commentary): Newt Gingrich Schools Lawrence O'Donnell On Clinton Tax Hikes DAVID GREGORY: Lawrence, this-- this idea of how much room the president is willing to give becomes a big question because he wants-- based on what I’m hearing, he wants Boehner to say,...
  • "The Shape Of The Next Crisis" - A Preview By Elliott's Paul Singer

    12/09/2012 7:08:44 PM PST · by Perdogg · 5 replies
    Transcribed from a speech given by Paul Singer of Elliott Management Investing is an art, more so than a science. And for me, what I get paid for is managing the “dark art,” if you will, of risk management and trying to be a visionary and having a dark vision at all times about what can go wrong. It’s a particularly fruitful and impactful time to be thinking about risk management and the thing I want talk about today is what I’ve described as “The Shape of the Next Crisis.” That doesn’t mean we’re going to be talking about the...
  • Michigan’s governor sides with right to work

    12/09/2012 5:42:39 PM PST · by jazusamo · 40 replies
    The Washington Times ^ | December 9, 2012 | Andrea Billups
    He forged a reputation as a moderate, can-do businessman-politician, but Michigan Gov. Rick Snyder, a Republican, has taken a leap into the political unknown by embracing a right-to-work bill that has put him at the center of an ideological battle with the state’s powerful union movement that shows no signs of dying down in the weeks ahead. With President Obama, who openly criticized the right-to-work drive, set to visit Detroit on Monday, opinions are sharply divided over the wisdom of the Republican push to make this longtime bastion of union strength into the nation’s 24th right-to-work state. Unions and Democrats...
  • IMF chief says U.S. needs blend of spending cuts, revenue raising

    12/09/2012 3:24:42 PM PST · by Olog-hai · 8 replies
    Reuters ^ | Sun Dec 9, 2012 9:48am EST | (Reporting By Sarah N. Lynch; Editing by Todd Eastham and Bill Trott)
    The United States needs a balanced, comprehensive approach to tackle its fiscal woes that should include a mix of spending cuts and revenue increases, the head of the International Monetary Fund said on Sunday. “My view, personally, is that the best way to go forward is to have a balanced approach that takes into account both increasing the revenue, which means, you know, either raising taxes or creating new sources of revenue, and cutting spending,” IMF Managing Director Christine Lagarde said in a pre-taped interview on CNN’s “State of the Union,” which aired on Sunday. …
  • Ikea: sorry for East German prison labour

    12/09/2012 3:09:24 PM PST · by DeaconBenjamin · 15 replies
    The Local (Germany) ^ | 16 Nov 12 16:06 CET
    Swedish furniture giant Ikea apologised on Friday for using East German political prisoners as forced labour to build furniture in the 1970s and 80s. After initially denying revelations made this April on SVTSveriges Television, Ikea on Friday admitted that prisoners had been used to make its products in East Germany. “We deeply regret that this could happen,” said sustainability manager Jeanette Skjelmose in a statement. Auditors Ernst and Young combed through tens of thousands of documents from the Ikea and German federal archives to produce the report, which Ikea presented at the Stasi victim association UOKG headquarters in Berlin. Although...
  • Cash-strapped Swaziland urged to hike witch-doctor tax

    12/09/2012 2:56:16 PM PST · by george76 · 18 replies
    Reuters ^ | Dec 7, 2012
    A Swazi Member of Parliament has urged the government to hike taxes on traditional healers and soothsayers to help solve a funding crisis in Africa's last absolute monarchy. ... Swaziland's budget deficit ballooned to 15 percent of its annual economic output in 2010 but the government managed to keep itself afloat by running through central bank reserves and delaying payment of wages to civil servants. The International Monetary Fund (IMF) declined to launch a bailout because of reluctance by King Mswati III, who has at least a dozen wives and a personal fortune estimated at $200 million, to cut royal...
  • French actor Depardieu seeks Belgian residency - mayor

    12/09/2012 2:00:49 PM PST · by NormsRevenge · 27 replies
    Yahoo! News ^ | 12/9/12 | Vicky Buffery | Reuters
    PARIS (Reuters) - Actor Gerard Depardieu has become the latest Frenchman to look for shelter outside his native country after a series of tax hikes by Socialist President Francois Hollande on the wealthy. The "Cyrano de Bergerac" star has bought a house in the Belgian village of Nechin near the French border, local mayor Daniel Senesael told French media on Sunday, adding he had also enquired about procedures for acquiring Belgian residency. ... "I think he wanted to enjoy the atmosphere in Belgium, our identity, the rural, bucolic setting," Senesael told RTL radio. For Depardieu, best known for his roles...
  • Sen. Tom Coburn: I'm Willing to Accept Tax Increases

    Republican Sen. Tom Coburn (R-Okla.) told me Sunday on ABC News' "This Week" that he is willing to accept tax rate increases as a component of a fiscal cliff deal, as long as Democrats put "significant entitlement reform" on the table. "What we ought to be working on is the other 93 percent, because even if you do what [Obama] wants to do on tax rates, you only affect 7 percent of the deficit," Coburn said. "What we have done is spend ourselves into a hole, and we're not going to raise taxes and borrow money and get out of...
  • Doug McIntyre: Not buying L.A. Mayor Antonio Villaraigosa as anti-debt champion

    12/09/2012 1:16:30 PM PST · by Mark · 5 replies
    Los Angeles Daily News ^ | 12/9/12 | Doug McIntyre
    `The Campaign to Fix the Debt" is a creation of former Republican Sen. Alan Simpson and his budget-balancing partner, former Clinton administration department head, Erskine Bowles, co-chairs of the much-ballyhooed "National Commission on Fiscal Responsibility and Reform." Simpson-Bowles might not have saved the taxpayers so much as one thin dime but they did create a rare moment of Washington bipartisanship when Democrats and Republicans agreed to ignore everything they recommended. But Alan Simpson and Erskine Bowles aren't quitters. They continue the noble fight to return fiscal sanity to a federal budget plunging toward the precipice of the dreaded Fiscal Cliff....
  • Police Called When Crowd Signing Up For Housing List Gets 'Out Of Control' [VIDEO]

    12/09/2012 1:11:03 PM PST · by bimboeruption · 75 replies
    10TV.com ^ | 12-8-2012 | Unknown to me
    COLUMBUS, Ohio - Columbus Police sprayed Mace on several people in a crowd that had gathered to sign up for a list to get subsidized housing at a northwest Columbus apartment complex. Police said the crowd started to gather Friday night for the Saturday morning event at The Heritage apartment complex on Gatewood Road near Sunbury Road in northeast Columbus. Authorities said that its highest number, the crowd reached 2,000 people. Residents in the area called police overnight and complained about the noise and number of cars in the neighborhood. According to police, a melee broke out when the manager...
  • Deal or no deal, ObamaCare taxes poised to hit next month

    12/09/2012 12:42:09 PM PST · by 2ndDivisionVet · 20 replies
    Fox News ^ | December 8, 2012
    Even if lawmakers somehow stop the Bush-era tax rates from expiring, taxes are still expected to rise on Jan. 1 -- thanks to a trio of new fees tied to the federal health care overhaul. The IRS this past week published rules for some of the first major taxes meant to help pay for President Obama’s massive insurance coverage expansion. Together, they will raise investment and income taxes on top earners and impose a separate -- and controversial -- tax on medical devices. The bundle of fees has been largely overlooked as lawmakers and the White House bicker over the...
  • Slouching Toward Damascus

    12/09/2012 11:20:22 AM PST · by jazusamo · 9 replies
    American Thinker ^ | December 9, 2012 | Clarice Feldman
    This was a week of some surprises and some perfectly foreseeable consequences of forces which have been in play for some time. The fiscal cliff talks have gone nowhere, to the surprise of only the most daft who do not realize that the President does not want a pragmatic solution. He's fixated on soaking "the rich", stirring up class hatred and trying to drive a wedge between his opposition forces. Among the surprises is this: Michigan, long seen as the showplace home of America's industrialized unions, has voted to become a right to work state. Its Governor Rick Snyder said...
  • The death of tax reform

    12/09/2012 9:02:10 AM PST · by george76 · 10 replies
    Washington Post ^ | December 6 , 2012 | Robert J. Samuelson,
    The story behind the story is that “tax reform,” as we know it, is dying. During the 1980s, no major piece of legislation better symbolized bipartisan consensus than the Tax Reform Act of 1986, which was regarded by both liberal and conservative experts as the best tax law since World War II. The basic idea was simple: Reduce tax rates and recover lost revenue by ending (or limiting) tax breaks. The struggle between President Obama and House Speaker John Boehner over the “fiscal cliff” indicates that this beneficial consensus has collapsed. Just the opposite is occurring. ... many politicians support...
  • School District Owes $1 Billion On $100 Million Loan

    12/09/2012 8:43:02 AM PST · by RLM · 27 replies
    NPR ^ | 12/9/2012 | Richard Gonzales
    More than 200 school districts across California are taking a second look at the high price of the debt they've taken on using risky financial arrangements. Collectively, the districts have borrowed billions in loans that defer payments for years — leaving many districts owing far more than they borrowed.
  • White House could protect middle class from looming tax hikes

    12/09/2012 8:36:55 AM PST · by Sub-Driver · 11 replies
    White House could protect middle class from looming tax hikes By Peter Schroeder and Bernie Becker - 12/09/12 06:00 AM ET The White House has the power to temporarily protect taxpayers from middle-class tax hikes even as upper income rates rise if Congress does nothing and all of the Bush-era tax rates expire in January. Experts and lawmakers alike agree that Treasury Secretary Timothy Geithner has the power to adjust how much is withheld from paychecks for tax purposes — for all taxpayers or just for some. By doing so, Geithner could ensure paychecks reflect the White House position that...
  • China’s inflation accelerates as food-price gains quicken

    12/09/2012 7:34:03 AM PST · by BenLurkin · 6 replies
    Business Mirror ^ | 09 December 2012 18:39
    CHINA’S inflation rebounded from a 33-month low as food costs rose the most since August, while deflation in factory-gate prices eased for a second month. The consumer price index rose 2 percent in November from a year earlier, the National Bureau of Statistics said on its web site on Sunday. That compares with the 2.1-percent median estimate in a Bloomberg News survey of 35 economists and 1.7-percent gain in October. Producer prices fell for a ninth month, while the pace of the decline moderated. The data may herald a new round of inflation should the nation’s nascent growth recovery gather...
  • Is America Headed Into An Intentional Recession?

    12/09/2012 7:21:28 AM PST · by Kaslin · 73 replies
    Townhall.com ^ | December 9, 2012 | Austin Hill
    “Mah fellow Americans, inflayshun is ow-uh friend…” If you can pronounce the phonetic wording above – and if it sounds vaguely familiar – then for better or worse you probably grew up watching “Saturday Night Live” like I did. The line comes from a late 1970’s skit wherein funny guy Dan Aykroyd was impersonating President Jimmy Carter. During his one term as President, Carter addressed the nation numerous times to try and quell people’s fears about inflation, the economic malady that defined the era. During those years, Carter announced several anti-inflation policy measures. He urged Americans to “tighten their belts”...
  • MSNBC host: Energy is just too darn cheap (Watch Video)

    12/09/2012 6:53:44 AM PST · by SeekAndFind · 20 replies
    Hotair ^ | 12/08/2012 | Jazz Shaw
    While I was taking a short break from working this morning and fixing some breakfast, my TV was still on in the background, tuned in to MSNBC. The host of Up With Chris Hayes was holding court over a panel discussion on domestic energy issues, so since that’s pretty much my field I had decided to tune in. The initial discussion had roped in quite a bit of the usual disinformation on natural gas fracking (which appeared to draw heavily on "facts" from fabulist Josh Fox's fictional propaganda piece, Gasland). There was one industry "advocate" included who I wasn't familiar...
  • Freedom's greatest tool in danger

    12/09/2012 6:15:40 AM PST · by Thad Lost · 30 replies
    Tea Party Nation ^ | 12/9/12 | Judson Phillips
    There is one tool of this modern age that we can argue is the greatest aid to the spread of liberty and freedom. This one great tool is in danger. This is a tool that tyrants would like to see dismantled. With freedom and liberty riding on the defense led by the Obama Regime, we should all be worried. What is this great tool and why is it in danger?