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Business/Economy (News/Activism)

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  • Donald Trump Deletes Tweet About Jeb Bushs Wife: You Like Mexican Illegals Because of Your Wife

    07/06/2015 7:34:00 AM PDT · by Mariner · 200 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. Bushs wife, Columbia, is Mexican. Bush responded to Trumps comments about Mexican immigrants being rapists and drug lords over the weekend. I dont 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 · 23 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 Im 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. Its...
  • What Greeks are saying to Europe: We won't be bullied

    07/06/2015 11:30:22 AM PDT · by MNDude · 50 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. Its 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 dont 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 · 50 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 · 33 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 · 24 replies
    miami.cbslocal.com ^ | July 5, 2015 2:44 PM | Staff
    DAYTONA BEACH (CBSMiami/AP) A growing national controversial issue has worked its way into NASCAR. Steven Rebenstorf has numerous flags flying atop his canopy tent inside Daytona International Speedway. The Confederate flag is front and center. Its 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. Theyd have to come and get it, Rebenstorf said Saturday, pointing out that his American flag purposely flies a few inches higher than the rest. Rebenstorf and others staunchly defended their Confederate flags...
  • Welcome to Hooverville, California

    07/06/2015 9:26:41 AM PDT · by Brad from Tennessee · 37 replies
    New York Times ^ | July 6, 2015 | By HCTOR 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...
  • UVMs 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...
  • Obamas 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 todays technology is beyond astronomical. On June 30, one day after the Supreme Court struck down the Environmental Protection Agencys 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 · 45 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 · 11 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...
  • Walker aims to blaze Midwestern trail to White House

    07/06/2015 5:06:13 AM PDT · by Cincinatus' Wife · 35 replies
    Politico ^ | July 6, 2015 | Alex Isenstadt
    His megadonors are from Chicago. His brain trust is from Wisconsin. And Iowa is the campaign linchpin. When he formally announces his presidential bid in a Milwaukee suburb next week, Scott Walkers campaign will have an unmistakably Midwestern stamp on it, from a stump speech that features giant Midwestern retailer Kohls to a primary season strategy pegged to Iowa and Michigan. The idea is to position the Wisconsin governor as the favorite son of the Midwest, where he hopes to run up the score beginning with Iowa next February. Walker has so far raised nearly $30 million for his effort,...
  • Yanis Varoufakis Resigns as Finance Minister of Greece After Vote

    07/06/2015 4:49:37 AM PDT · by SeekAndFind · 11 replies
    New York Times ^ | 07/06/2015 | By LIZ ALDERMAN and JACK EWING
    ATHENS Greeces combative finance minister, Yanis Varoufakis, who took a strong stand in demanding that creditors write off some of his countrys debts, abruptly resigned on Monday morning. Mr. Varoufakis had played a central role in rallying votes for a resounding no on a referendum on Sunday that asked Greeks whether they were willing to accept an arrangement with creditors that would require considerable further austerity, such as pension cuts. Mr. Varoufakis had threatened last week to resign in the event of a yes vote, and his decision to step down after he and his allies prevailed in the...
  • Greece votes No: The European Union is dying before our eyes

    07/06/2015 4:44:49 AM PDT · by Enlightened1 · 45 replies
    The Telegraph ^ | 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...
  • SOCIALISMS GREEK STARING CONTEST

    07/06/2015 4:03:59 AM PDT · by Biggirl · 3 replies
    Frontpagemag.com ^ | July 6, 2015 | Daniel Greenfield
    The Greeks gambled in their referendum that European elites were more committed to their ideological obsession with integrating Europe than with mere economics. Stand up to a bunch of corrupt Greek civil servants and Europe risks going back to the bad old days of nation states and independent economies. It is likely that their bet will pay off.
  • Greek Finance Minister Yanis Varoufakis resigns after 'no' vote against bailout

    07/06/2015 3:20:22 AM PDT · by Enlightened1 · 18 replies
    Fox News ^ | 07/06/15
    Greek Finance Minister Yanis Varoufakis resigned from his post Monday after Greek citizens voted to reject further austerity measures the day prior, the Associated Press reported. Varoufakis said he was told shortly after the voters rejected Sunday's referendum regarding demands by international creditors to impose further austerity measures in exchange for a bailout package for its bankrupt economy, that the other eurozone finance ministers and Greece's other creditors would prefer he not attend the ministers' meetings. Varoufakis issued an announcement saying Prime Minister Alexis Tsipras had judged that Varoufakis' resignation "might help achieve a deal" and that he was leaving...
  • Markets are tumbling.

    07/06/2015 3:15:17 AM PDT · by LukeL · 45 replies
    Self
    Dow Futures are already down 125, Oil down 4.4%, Platinum down over $20.
  • Some White House Republican hopefuls want curbs on legal immigration [Walker, Santorum]

    07/06/2015 2:38:37 AM PDT · by Cincinatus' Wife · 18 replies
    Reuters ^ | July 6, 2015 | Andy Sullivan, editing by Ross Colvin
    Republican 2016 presidential hopefuls Scott Walker and Rick Santorum are suggesting a potentially controversial way to boost Americans' job prospects: admit fewer legal immigrants into the United States. The notion, absent from presidential politics for at least 20 years, could help them tap into the frustrations of working-class voters who have struggled with stagnant wages and reduced job opportunities since the economic crisis of 2007-2009. It could also complicate prospects for a comprehensive fix to the nation's outdated immigration system and tar the Republican Party as anti-immigrant at a time when it needs to broaden its support base of Hispanics...
  • [ From July 23, 2012 ] IS THERE ANY POINT IN THE ROYAL FAMILY? (In UK)

    07/05/2015 10:33:12 PM PDT · by MinorityRepublican · 23 replies
    Joeybarton.com ^ | July 23, 2012
    Does Britain still need the Royal Family? All in favour say aye Lets start with the simple numbers; the Royal wedding cost approximately 20m and it is calculated to have generated 1bn for the economy. Now Im no financial guru, but according to my calculations, thats a hefty profit. God knows what the Jubilee did. OK, so weve established the wedding may have helped our struggling economy, but how else do we benefit from royalty? Aside from the millions of pounds earned from tourists visiting their endless estates and fancy buildings, the Royal Family are highly respected worldwide, they...
  • Choosing Misery: The Culture of Victimhood and Ingratitude

    07/06/2015 12:35:55 AM PDT · by Cincinatus' Wife · 8 replies
    The American Thinker ^ | July 6, 2015 | Patrick Goble
    [SNIP]...We are not all equally failing, indifferent, dimwitted, or immoral, nor are we all equally talented, worthy of love and attention, successful, or productive. Not everything is subjective. Not everything is just an opinion. To collectively believe otherwise is suicidal, and this thinking has directly contributed to the decline of our civilization, one in which far too many people are now appallingly ineffectual, apathetic, and unskilled.The notion that all people, no matter what they do or dont do, accomplish or dont accomplish, are equalno better or worse than anyone elsemust be fought against.We are fast becoming a nation of lazy,...
  • Puerto Rico Shows Greece Needs 50 Billion A Year: And Would Still Fail Even Then

    07/06/2015 12:21:37 AM PDT · by bob_denard · 4 replies
    Forbes ^ | 7/05/2015 | Tim Worstall
    Its true, as Paul Krugman says, that Greece and Puerto Rico are not in exactly the same position. PR is bust to some extent, yes, but its not in the middle of a catastrophe, as Greece is. However, there is also a similarity in their situations, one thats extremely instructive. Theyre both suffering from being in a monetary policy zone, a currency zone, that isnt really suitable for their circumstances. One of the two is in a fiscal policy union as well as that monetary union, the other is not. And its long been agreed that if youre to have...
  • Defiant Greeks reject EU demands as Syriza readies IOU currency

    07/05/2015 9:10:39 PM PDT · by catnipman · 41 replies
    The Telegraph ^ | 7/5/15 | Ambrose Evans-Pritchard
    "If necessary, we will issue parallel liquidity and California-style IOU's, in an electronic form. We should have done it a week ago," said Yanis Varoufakis, the finance minister. ... Syriza sources say the Greek ministry of finance is examining options to take direct control of the banking system ... They want a new team installed, one that is willing to draw on the central bank's secret reserves, and to take the provocative step in extremis of creating euros. "We have to restore stability to the system, with or without the help of the ECB. We have the capacity to print...
  • Oregon Baker to Christians: 'Get Ready for Civil Disobedience'

    07/05/2015 8:06:14 PM PDT · by Tolerance Sucks Rocks · 47 replies
    Newsmax ^ | July 3, 2015 | Cathy Burke
    Defiant Oregon bakers fined $135,000 for their 2013 refusal to make a cake for a lesbian wedding reportedly vow to "fight back" against the state labor commissioner's stiff penalty and are calling on "Christians to take a stand." "For years, weve heard same-sex marriage will not affect anybody," Aaron Klein, co-owner of Sweet Cakes by Melissa, told The Blaze. "Im here firsthand to tell everyone in America that it has already impacted people. Christians, get ready to take a stand. Get ready for civil disobedience." Oregon's Labor Commissioner Brad Avakian on Thursday issued a final ruling in the...
  • Oil prices tumble after Greek no vote to bailout, China stock market turmoil

    07/05/2015 6:55:28 PM PDT · by 2ndDivisionVet · 54 replies
    Reuters ^ | July 5, 2015 | Aaron Sheldrick and Henning Gloystein
    Oil prices fell sharply in early trading on Monday after Greece rejected austerity measures demanded in return for bailout money and as China rolled out an unprecedented series of steps over the weekend to prevent a full-blown stock market crash. In a referendum on Sunday, Greeks overwhelmingly rejected austerity measures demanded in return for bailout money, putting in doubt its continued place in the single currency and pulling down the euro EUR= in early trading on Monday. In China, stock markets face a make-or-break week after officials rolled out a series of measures to prevent a full-blown stock market crash...
  • Did China's Stock Market Crash Just End Economic Reform?

    07/05/2015 6:43:39 PM PDT · by BenLurkin · 22 replies
    forbes ^ | 7/05/2015 @ 9:59AM
    The beauty of markets is that they have a mind of their own. For the Chinese government, this has been a tough pill to swallow. Try as it might, the Chinese government was unable to arrest the decline in the domestic stock market last week. The central bank cut benchmark interest rates and the amount of money banks must keep with it on reserve. A government investment vehicle made it known that it was buying ETFs. The securities regulator eased regulations on margin trading and the Stock Exchange cut transaction fees. Despite this, the benchmark Shanghai Composite Index declined 12%...
  • Futures sharply lower; live CNBC coverage tonight at 8pm ET

    07/05/2015 4:21:18 PM PDT · by John W · 90 replies
    cnbc.com ^ | July 5, 2015 | Everett Rosenfeld & Ben Berkowitz
    U.S. futures are sharply lower after the Greek vote, and CNBC will have live coverage of the aftermath tonight at 8 p.m. ET. The Greek people voted resoundingly on Sunday to reject proposals from their European creditors. S&P 500 futures fell 1.5 percent in early trading after 6 p.m. ET (2200 GMT).
  • Greece enters uncharted territory after referendum 'no' vote

    07/05/2015 3:21:49 PM PDT · by familyop · 51 replies
    Associated Press ^ | July 5, 2015 | ELENA BECATOROS and DEMETRIS NELLAS
    ATHENS, Greece (AP) -- Greece lurched into uncharted territory and an uncertain future in Europe's common currency Sunday after voters overwhelmingly rejected demands by international creditors for more austerity measures in exchange for a bailout of its bankrupt economy. Results showed 61 percent voted "no," compared with 38 percent for "yes," with 93 percent of the vote counted. The referendum - Greece's first in more than four decades - came amid severe restrictions on financial transactions in the country, imposed last week to stem a bank run that accelerated after the vote was called.
  • Multiple Factors At Work As Many Brace For Higher Health Insurance Premiums In 2016

    07/05/2015 3:08:32 PM PDT · by Iron Munro · 13 replies
    Tampa Bay Times ^ | July 3, 2015 | Kathleen McGrory
    The Affordable Care Act has weathered its share of punches in recent weeks, including a Supreme Court challenge that could have led to its unraveling. Its next bout could hit consumers in the pocketbook. In Florida, several big-name insurance providers including Aetna, Cigna, Coventry and United Healthcare have already proposed double-digit rate increases for individual health insurance plans, federal records show. The figures are not final, and they represent only a slice of the plans available on the individual insurance market. (Companies requesting single-digit hikes don't have to publish their rates until later in the year.) But experts...
  • Quartet of crises threatens Europe's core

    07/05/2015 2:57:24 PM PDT · by 867V309 · 8 replies
    news.yahoo.com ^ | 4-5-2015 | Paul Taylor
    The EU's unity, solidarity and international standing are at risk from Greece's debt, Russia's role in Ukraine, Britain's attempt to change its relationship with the bloc, and Mediterranean migration.
  • For Many, Obamacare Is Becoming The Unaffordable Care Act

    07/05/2015 1:25:31 PM PDT · by Brad from Tennessee · 50 replies
    Forbes ^ | July 5, 2015 | By Richard Eisenberg
    Let me start by saying this is not a political screed against Obamacare; Im thrilled that some 18 million Americans now have health insurance who didnt before the law took effect, lowering the percentage of uninsured adults from 18% in 2013 to 11.9% today. But Im growing concerned that for some people especially older, middle- and lower-income adults the Affordable Care Act is becoming The Unaffordable Care Act. A Growing Problem: The Underinsured Several recent studies suggest to me that due to a combination of Obamacares incentives to reduce premiums; the rise of so-called consumer-driven and high-deductible health...
  • Greeks cannot tap cash in safe deposit boxes under capital controls

    07/05/2015 12:55:50 PM PDT · by catnipman · 82 replies
    rooters ^ | 7/5/15 | staff
    Greeks cannot withdraw cash left in safe deposit boxes at Greek banks as long as capital restrictions remain in place, a deputy finance minister told Greek television on Sunday. ...
  • Greek referendum results live: 'No' vote to Europe's bail-out terms as Greeks choose to deal

    07/05/2015 12:53:32 PM PDT · by Lurch Addams · 90 replies
    Telegraph ^ | 7/5/2015 | Mehreen Khan
    Greek referendum results live: No vote to eurozone bail-out deal leads by 60 per cent. After 20pc of the vote is counted, Greeks look to have voted 'No' with a 60pc majority against Europe's bail-out conditions
  • Will Puerto Rico Cause An Inadvertent Black Swan Derivatives Melt-Down?

    07/05/2015 11:55:20 AM PDT · by Lorianne · 24 replies
    IRD ^ | 30 June 2015 | ?
    I really had not been paying much attention to the Puerto Rico debt situation. After all, $72 billion in debt that might go bad big deal. The Fed can print up $72 billion in credit lines with the push of a button. But a friend of mine happened to mention to me today (Monday) that MBIAs stock was down over 23% and Assured Guarantys stock was down over 13%. That woke me up. Companies like MBI and AMBAC underwrite credit enhancement guarantees on these massive cesspools of debt and the associated derivatives that are wrapped around the debt...
  • The Economist Calls Victory For "No" Camp: Sees 60% Voting "Oxi"

    07/05/2015 10:33:29 AM PDT · by Enlightened1 · 18 replies
    Zero Hedge ^ | 07/05/15 | Tyler Durden
    Can't wait 4 more hours until the first official results from the Greek referendum trickle in? The "Intelligence Unit" of the Economist Group, part-owned by the Rothschild banking family, has already called it and the "Oxis" have it by a wide margin.
  • Greek Referendum Polls Close: "No" Seen Ahead By Most With Over 51% Of The Vote

    07/05/2015 9:16:11 AM PDT · by Perdogg · 110 replies
    Zero hedge ^ | 07.05.15
    At 7pm local time the Referendum polls closed. Here is what the early exit polls predict: A poll by GPO on Mega TV gave 51.5% in favor of no and 48.5% in for yes Metron Analysis on Antenna TV showed no leading with 49% vs 46% for yes MRB on Star TV showed no leading with 49%-54% vs 46%-51% for yes Marc opinion poll for Alpha TV shows no ahead with 49.5%-54.5% vs 45.5%-50.5%
  • Greeks cant use iTunes, the App Store, PayPal and more thanks to the financial crisis

    07/05/2015 8:52:26 AM PDT · by Enlightened1 · 17 replies
    The Next Web ^ | 07/04/15 | Mic Wright
    Greece has a lot of problems right now as a result of the debt crisis, but one that you might not have immediately anticipated is that online services that require credit or debit payments to a foreign company are broken. As BuzzFeed reports, the Greek governments imposition of capital controls which restrict citizens ability to take money out of the country following its failure to make debt repayment, also mean they cant buy a 0.99 song from iTunes or grab new apps. Of course, its not the biggest issue faced by the country, but it is another source...
  • Panic Sets in Among Hardy Hedge Fund Investors Remaining in Greece

    07/05/2015 7:30:40 AM PDT · by Lorianne · 21 replies
    New York Times ^ | 28 June 2015 | Landon Thomas Jr.
    For investors around the world looking at Greece, there was but one question Sunday: What is going to happen when the markets open? On Sunday night, the prime minister, Alexis Tsipras, said in a televised address that Greeces banks and stock market would be closed on Monday, as Athens tries to avert a financial collapse. But the question of what happens when the markets do open is particularly acute for the hedge fund investors including luminaries like David Einhorn and John Paulson who have collectively poured more than 10 billion euros, or $11 billion, into Greek government bonds,...
  • Republicans cast into turmoil as Donald Trump rides the populist surge

    07/05/2015 7:02:06 AM PDT · by Mariner · 75 replies
    The Telegraph (UK) ^ | Juloy 5th, 2015 | By Philip Sherwell
    For Donald Trump the entrepreneur, it was a damaging week. Two major television networks severed ties, Macys dropped his clothing line and Carlos Slim, the even richer Mexican tycoon, ended a joint venture with him. But for Donald Trump the inveterate showman and Republican challenger for president, the week was a triumph as he climbed in the opinion polls and dominated media coverage, despite the backlash against his decision to condemn Mexican immigrants as rapists and drug traffickers. Wow, Huffington Post just stated that I am number one in the polls of Republican candidates, the brash billionaire bragged as the...
  • 'Sweetcakes' owner defiant in face of $135,000 fine

    07/05/2015 5:50:00 AM PDT · by sheikdetailfeather · 151 replies
    Washington Examiner ^ | 7-3-2015 | Barbara Boland
    After getting hit with a financially-crushing $135,000 fine Thursday for their decision to not bake a cake for a lesbian wedding, the owner of the Oregon "Sweetcakes by Melissa" bakery has a dire warning for Americans. "For years, we've heard same-sex marriage will not affect anybody," Aaron Klein said in an interview with The Blaze. "I'm here firsthand to tell everyone in America that it has already impacted people." Aaron and his wife Melissa are required to immediately write a $135,000 check to the lesbian couple they refused to bake a wedding cake for, Rachel Cryer-Bowman and Laurel Bowman-Cryer, to...
  • Fears major bank is 'hours from collapse' as millions vote on Greeces financial future

    07/05/2015 5:44:45 AM PDT · by RKBA Democrat · 60 replies
    Daily Mail UK ^ | 7-5-15 | Lydia Willgress
    (Title edited due to lemgth) Fears the central bank of Greece will collapse following today's referendum are rising as voters flocked to the polls to decide on their country's future. [snip] Officials are set to ask the European Central Bank (ECB) for emergency cash in a bid to stave off financial ruin following tonight's result, it has been reported. [snip] It comes as some sources also suggested ATMs will not open this evening in a bid to save money after EU leaders threatened to withdraw the euro in the event of a 'No' vote.
  • China to create $19B fund to support plunging stock market

    07/05/2015 3:20:44 AM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Jul 4, 2015 11:32 PM EDT
    More than two dozen companies in China are postponing initial public offerings and security companies are pledging more than $19 billion for a fund to stabilize the countrys free-falling stock market. The 28 companies, which had obtained permission from Chinas securities watchdog for IPOs planned in Shanghai and Shenzhen, said they would postpone them due to recent market fluctuations and refund money already paid, the official Xinhua News agency announced late Saturday. That followed reports that regulators were asking companies to postpone the IPOs. [] The Chinese stock market has been in free-fall for three weeks, losing 28 percent of...
  • The past five days have been worse than all that has gone before (Greece)

    07/04/2015 8:53:39 PM PDT · by dynachrome · 19 replies
    Financial Times ^ | 7-1-15 | Iliana Magra
    Sir, Memory. No memory of life before the financial crisis; politics has dominated it ever since. But now I can hardly remember life before Friday night. Fear. I am terrified of tomorrow, all I now see is black. Uncertainty, leading us through our days, every remainder of hope for a brighter future being destroyed by the minute. I look at my three-year-old niece, I envy her ignorance, I envy her age. I am 21 years old and the past few days I feel tired by life. A referendum that supposedly gives me the right to define my future, seems to...
  • Donald Trump: I didn't expect business backlash to be "quite this severe"

    07/04/2015 8:23:49 PM PDT · by Mariner · 112 replies
    CBS News ^ | July 4th, 2015 | By Reena Flores
    On the heels of several major corporations distancing themselves from Donald Trump's various business interests, the Republican presidential candidate admitted Saturday that he didn't think the corporate backlash to his inflammatory comments about Mexican immigrants would be "quite this severe." "I knew it was going to be bad because I was told this. All my life I have been told this: If you are successful, you don't run for office," Trump said in an interview on Fox News, addressing the recent spate of businesses that have severed their relationships with his brand. "I didn't know it was going to be...
  • Farage on Friday: The EU does NOT care about what is best for Greece

    07/04/2015 7:47:22 PM PDT · by dynachrome · 14 replies
    Sunday Express ^ | 7-3-15 | NIGEL FARAGE, MEP
    As my colleague Patrick OFlynn recently pointed out in the Daily Express, the bullying of Greece by the EU has stepped up a notch. Threats, scaremongering and fear is being put about to keep that country locked within the Euro straightjacket. All those running the EU care about is their project. They care not for the best wishes of the Greek people, but simply for sustaining the economic madhouse they themselves have created. Locked inside the Euro, the Greek people have been long-suffering. Quite simply, the European Union is quite happy to see Greece crucified as long as the shattered...
  • China curbs IPOs, enlists brokers in all-out bid to end market rout

    07/04/2015 5:40:57 PM PDT · by BenLurkin · 6 replies
    rueters ^ | Sat Jul 4, 2015 8:19pm EDT | Michael Martina and Samuel Shen
    China froze share offers and set up a market-stabilization fund on Saturday, the Wall Street Journal said, as Beijing intensified efforts to pull stock markets out of a nose-dive that is threatening the world's second-largest economy. Beijing's reported suspension of initial public offers (IPOs) came a few hours after extraordinary announcements by major brokers and fund managers, which collectively pledged to invest at least $19 billion of their own money into stocks. China's government, regulators and financial institutions are now waging a concerted campaign to prop up the nation's two main share markets, amid fears that a meltdown would rock...
  • Texas wants its gold back inside the state's borders

    07/04/2015 3:57:40 PM PDT · by Enlightened1 · 35 replies
    AP ^ | 07/04/15
    Forget Fort Knox or the Federal Reserve. Texas has decided to start keeping its gold holdings within in its own borders. But what makes sense politically in such a sovereignty-loving place is creating a logistical conundrum. Texas is the only state that owns an actual stockpile of gold, according to public sector and financial industry experts - not just gold futures or investment positions, but approximately 5,600 gold bars worth around $650 million. The holdings, stored at a New York bank, for some harken back to century-old fears about the security of currency not backed by shiny bullion. The Legislature's...
  • Sugar, flour, rice: panicked Greeks stock up on essentials

    07/04/2015 2:14:45 PM PDT · by Kartographer · 58 replies
    AFP via Yahoo News ^ | 7/4/15 | Pauline Froissart
    Greeks were hoarding cash and food Saturday amid mounting fears the economy could collapse, cracking open their wallets only to stock up on essentials and stripping supermarket shelves in the process. Related Stories Split Greece teeters on the brink with referendum AFP Stakes rise in Greece's bailout referendum AFP Greeks rush to withdraw cash as MPs debate bailout referendum AFP Greece debates referendum amid fears of run on banks AFP Greek banks say have sufficient liquidity until Tuesday AFP Mothers, elderly men and university students were spotted pushing heavily overloaded trolleys or coming out of shops weighed down by bags...
  • The Greeks should vote no!

    07/04/2015 10:27:15 AM PDT · by Tolerance Sucks Rocks · 60 replies
    The Washington Times ^ | July 2, 2015 | Peter Morici
    Sunday, Greeks should vote “no”!Hellenic voters are being asked whether they accept the terms offered by the European Union, European Central Bank and International Monetary Fund to extend the bailout for Athens‘ troubled finances or give Prime Minister Tsipras a mandate to insist on a better deal.Those conditions include more cuts in government supported pensions, higher taxes and labor market reforms other European governments’ are often not inclined to accept in the conduct of their own affairs.Urging a Yes vote, European leaders and their supporters in private institutions claim more austerity would reinvigorate the Greek economy and permit Greeks to...
  • Progressive Paradise Lost

    07/04/2015 10:07:58 AM PDT · by Tolerance Sucks Rocks · 20 replies
    The Daily Signal ^ | July 1, 2015 | Salim Furth
    It’s a progressive paradise.Public employees get 30 vacation days a year. Anyone who works over eight hours in a day gets paid time-and-a-half. Employees have strong rights.The minimum wage is high: 77 percent of the median wage.Environmental regulations are settled beyond the pressure of local economic interests. The forests and mountains are pristine destinations for ecotourism.Energy costs are kept high, pushing consumption down to a level deemed “socially beneficial”. Utilities have strong public backing and provide jobs to thousands.Union jobs in shipping are protected from outsourcing to cut-rate foreign competitors.The social safety net is buoyant and provides a solid working-class standard...
  • Donald Trump Will Have to Disclose His Net Worth and Earnings From Trump University, Judge Rules

    07/04/2015 10:02:46 AM PDT · by nickcarraway · 72 replies
    New York Daily News ^ | Friday, July 3, 201 | DAREH GREGORIAN
    Donald Trump has to put his mouth where his money is. The Republican presidential candidate will have to answer questions under oath about his net worth - and about how much money he raked in from his now-defunct Trump University, a California federal court judge ruled this week. Lawyers for The Donald had contended he didn't have to answer questions in a civil racketeering lawsuit about how much money he made from the "school" because he'd already acknowledged under oath that he had "significant involvement with both the operations and overall business strategy of Trump University." In a ruling Tuesday,...