Business/Economy (News/Activism)

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  • Time to Bring Back the Truman Democrats

    12/21/2014 8:15:04 PM PST · by SeekAndFind · 38 replies
    Daily Beast ^ | 12/21/2014 | Joel Kotkin
    Democrats are pushing race and environmental issues when they should be embracing the lunch-bucket themes that once built party dominance. Meanwhile, voters flee. Once giants walked this earth, and some of them were Democrats. In sharp contrast to the thin gruel that passes for leadership today, the old party of the people, with all its flaws, shaped much of the modern world, and usually for the better. Think of Franklin Roosevelt or Harry Truman, John Kennedy, or Californiaís Pat Brown, politicians who believed in American greatness, economic growth, and upward mobility. For more than 40 years, the Democratic Party has...
  • Protesters stop traffic, hold 'die-in' at food court in West Towne Mall (WI)

    12/21/2014 6:14:35 PM PST · by Diana in Wisconsin · 43 replies
    Das Kapitol Times ^ | December 21, 2014 | Laurel White
    ďNo justice, no peace, no racist police.Ē That was one of the chants the crowd of about 50 protesters shouted Saturday outside Madison Memorial High School and in the food court of West Towne Mall. The protesters gathered around 3:30 p.m. and marched from the high school to the mall, shutting down one direction of traffic on Mineral Point Road, and held a ďdie-inĒ in the mall food court. ďWe are here because there are many injustices in our system,Ē said Brandi Grayson, one of the organizers of the protest, in the mall food court, over a megaphone. Grayson is...
  • Obama's doing a much better job than most people ackowledge: Farmer

    12/21/2014 5:14:10 PM PST · by 2ndDivisionVet · 51 replies
    The Times of Trenton ^ | December 21, 2014 | John Farmer
    Politics is predictably unpredictable. So itís no surprise that President Obama, after a hellacious 11 months, is finishing his sixth year on an unpredictably strong note. The U.S. economy is sitting up and taking nourishment, recovering nicely. Vladimir Putin, whom Republicans like Rudy Giuliani were fawning over as a ďreal leaderĒ in contrast to our pusillanimous president, is gasping for air as the Russian economy sinks under the weight of Obama-led sanctions and a U.S. energy surge. Having stuck a thumb in the eye of the GOP with his immigration initiative, Obama used another digit on the Grand Old Partisans...
  • Gun Talk Radio, Sunday, December 21st, 2014.

    12/21/2014 5:05:07 PM PST · by carriage_hill · 89 replies
    Gun Talkģ Radio Network ^ | Sunday, December 21st, 2014 | Tom Gresham
    ‚ėÖ‚ėÖ‚ėÖ Come on in and shoot the breeze! ‚ėÖ‚ėÖ‚ėÖ Welcome to Tom Gresham's Gun Talk¬ģ Radio Network, the only nationally syndicated radio talk show about firearms, shooting and gun rights. Tune in on Sundays, 08:00-11:00pm EST, and give us a call at 1-866-825-5486. In its 20th year of national syndication, Tom Gresham's Gun Talk¬ģ radio show airs live on Sundays from 2PM-5PM Eastern, and runs on more than 186 stations every week. Listen live on a radio station near you, or via live Saturday afternoon streaming from one of the stations. All Gun Talk¬ģ shows, and the "After Show" can...
  • NASA Just Emailed A Wrench To The International Space Station

    12/21/2014 1:25:28 PM PST · by shove_it · 52 replies
    iflScience ^ | 19 Dec 2014 | Janet Fang
    For the first time ever, hardware designed on the ground has been emailed to space to meet the needs of an astronaut. From a computer in California, Mike Chen of Made In Space and colleagues just 3D-printed a ratcheting socket wrench on the International Space Station. ďWe had overheard ISS Commander Barry Wilmore (who goes by ďButchĒ) mention over the radio that he needed one,Ē Chen writes in Medium this week. So they designed one and sent it up. ďThe socket wrench we just manufactured is the first object we designed on the ground and sent digitally to space,...
  • Obama: Putin No 'Chess Master,' Not 'Someone Who Rolled Me'

    12/21/2014 11:06:24 AM PST · by bkopto · 43 replies
    Newsmax ^ | 12/21/2014 | Staff
    "And right now, he's presiding over the collapse of his currency, a major financial crisis and a huge economic contraction," Obama said in the interview, which was recorded on Friday. "That doesn't sound like somebody who has rolled me or the United States of America. "
  • 2014 Recap --Looking Back; Investment & Finance Thread - Dec. 14

    12/21/2014 8:49:52 AM PST · by expat_panama · 10 replies
    Weekly investment & finance thread ^ | Dec. 21, 2014 | Freeper Investors
    2014 Recap --Looking Back; Investment & Finance Thread - Dec. 14 [click for link to list] Merry Christmas!†† We get to open some goodies a few days early here, first with the list of this past year's thread links (left) for a nostalgic walk down Memory Lane while we go over this past market strategies.† Then we can number-plot check out how general markets fared.† †Stocks: †Looking over the past year (as of Dec. 19) we're seeing the S&P 500 up 12.0% and the NASDAQ up 14.1% --above average!† OK we've done better but I personally can live w/...
  • ĎTis the SeasonÖto be Thankful for an ďUnproductiveĒ Congress

    12/21/2014 7:29:07 AM PST · by Kaslin · 4 replies
    Townhall.com ^ | December 21, 2014 | Daniel J. Mitchell
    Two years ago, I jumped on USA Today for stating that the 112th Congress was the ¬ďleast productive¬Ē since the end of World War II. My argument was very straightforward. It¬ís better to have no legislation than bad legislation. Here¬ís some of what I wrote about USA Today¬ís hypothesis. ‚Ķit does blindly assume that it is productive to impose more laws. Was it productive to enact Obamacare? What about the faux stimulus? Or the Dodd-Frank bailout bill? Wouldn¬ít the headline be more accurate if it read, ¬ďThis Congress could be least destructive since 1947?? ‚ĶTo be sure, not all legislation...
  • D.C. has passed sea level rise 'tipping point,' more cities to follow: study (Got Sandbags?)

    12/21/2014 5:25:36 AM PST · by raybbr · 60 replies
    SAN FRANCISCO ó Major U.S. coastal cities, including Washington, D.C. and Wilmington, North Carolina, have already slipped past a sea level rise-related ďtipping point,Ē and into a new era of increasingly common and damaging coastal flooding events, a new study found. Other cities along the East and Gulf Coasts are following close behind, with the majority of coastal areas in the U.S. expected to see 30 or more days of ďnuisance-level floodingĒ each year by 2050, regardless of how significantly countries cut emissions of the greenhouse gases that are causing global warming, according to the study. The study defines this...
  • Obamacareís Christmas surprise

    12/20/2014 8:00:41 PM PST · by Tolerance Sucks Rocks · 21 replies
    The Washington Times ^ | December 19, 2014 | Rep. Mark Meadows
    If you like your health care plan, the Centers for Medicare and Medicaid Services (CMS) has a Christmas surprise for you! When will this new present arrive? December 25th. In an ongoing effort to keep Obamacare numbers elevated, CMS has embarked on the next step of its government takeover of healthcare. It seems CMS is taking a page from Jonathan Gruberís book; rather than allowing the ďstupidĒ masses to make a decision on their own health plan, CMS has proposed a new rule that includes an overly reaching provision allowing CMS to re-enroll anyone who has not made the annual...
  • Coming Egg Shortage Will Tax Family Budgets

    12/20/2014 6:50:39 PM PST · by Tolerance Sucks Rocks · 106 replies
    The New American ^ | December 19, 2014 | William F. Jasper
    If eggs are a staple in your familyís diet and youíd like to keep it that way, now would be a good time to get a few laying hens. Next month, beginning January 1, 2015, the chicken-and-egg production in the United States is in for a big shock. Thatís when Californiaís new regulations on egg-laying hens goes into effect. And the effects of those regs on eggs will be felt nationally, even globally. The incredible, edible, prolate spheroid-shaped poultry product, which has long been one of the most affordable sources of high-quality protein, is certain to become significantly more expensive.In...
  • The Odd Math of Medical Tests: One Scan, Two Prices, Both High

    12/20/2014 5:23:54 PM PST · by Lorianne · 12 replies
    New York Times ^ | 15 December 2015 | Elixabeth Rosenthal
    Testing has become to the United Statesí medical system what liquor is to the hospitality industry: a profit center with large and often arbitrary markups. From a medical perspective, blood work, tests and scans are tools to help physicians diagnose and monitor disease. But from a business perspective, they are opportunities to bring in revenue ó especially because the equipment to perform them has generally become far cheaper, smaller and more highly mechanized in the past two decades. And echocardiograms, ultrasound pictures of the heart, are enticing because they are painless and have no side effects ó unlike CT scans,...
  • Why Cuomoís New York Fracking Ban Wonít Matter Much

    12/20/2014 5:14:58 PM PST · by SeekAndFind · 16 replies
    National Review ^ | 12/20/2014 | Robert Bryce
    Amid the many explanations offered by New York governor Andrew Cuomo and his various lieutenants about their reasons for imposing a permanent ban on hydraulic fracturing in the state, one of them made me laugh out loud. ďWe lack the necessary data,Ē said New Yorkís health commissioner, Howard Zucker. Iíll discuss why that claim made me chuckle in just a moment. Before turning to that, letís be clear: Cuomoís decision is not surprising, and itís not very significant either. Itís hardly surprising that a liberal Democratic governor in one of Americaís most liberal states chose to ban fracturing. Indeed, in...
  • Cyberattack on German steel factory causes 'massive damage

    12/20/2014 1:07:05 PM PST · by aimhigh · 34 replies
    It World ^ | 12/19/2014 | Loek Essers
    A German steel factory suffered massive damage after hackers managed to access production networks, allowing them to tamper with the controls of a blast furnace, the government said in its annual IT security report. . . . . . Due to these failures, one of the plantís blast furnaces could not be shut down in a controlled manner, which resulted in ďmassive damage to plant,Ē the BSI said, describing the technical skills of the attacker as ďvery advanced.Ē
  • Cyberattack on German Iron Plant Causes ĎWidespread Damageí: Report

    12/20/2014 11:49:41 AM PST · by Ray76 · 16 replies
    WSJ ^ | Dec 18, 2014 | Rachael King
    A German federal agency has acknowledged in a report Wednesday that a cyberattack caused physical damage to an iron plant in the country. It was a rare admission by a government tying a cyber action to actual physical destruction. The attackers gained access to an unnamed plantís office network through a targeted malicious email and were ultimately able to cross over into the production network. The plantís control systems were breached which ďresulted in an incident where a furnace could not be shut down in the regular way and the furnace was in an undefined condition which resulted in massive...
  • The Best-Ever Argument for Federalism

    I’m a big fan of federalism for both policy and political reasons.Returning programs to the states is the best way of dealing with counterproductive income-redistribution policies such as welfare, Medicaid, and food stamps.Federalism is also the right way of unwinding bad education schemes likeObama’s Common Core and Bush’s No Bureaucrat Left Behind.And the same principle applies fortransportation, natural disasters, and social issues such as drugs.And I can’t resist pointing out, for the benefit of those who think such things matter, that federalism is also the system that is consistent with ourConstitution’s restrictions on central government power.Simply stated, federalism is good...
  • "Deflation Warning" vs. "Inflation is Nearly Everywhere"

    12/20/2014 11:19:23 AM PST · by Kaslin · 22 replies
    Townhall.com ^ | December 20, 2014` | Mike Shedlock
    Theory #1: Break-Even Rates Provide "Deflation Warning"
  • Equities Decouple from Oil

    12/20/2014 10:19:39 AM PST · by Kaslin · 4 replies
    Townhall.com ^ | December 20, 2014 | Charles Payne
    The 419-point move for the Dow +2.4% is the biggest since November 30, 2011. A lot was short covering, but those covering were not mom and pop investors…but sometimes, smart money throws in the towel. Yesterday, the biggest news was not headline news and most market-watchers were not paying attention either. The decoupling of equities from oil is huge; even after a rebound attempt in oil failed and crude tumbled, stocks kept moving higher.This is big stuff. It clears the way for good news on gas to be good news, not a deflationary red flare.Here’s the technical part of our Special...
  • Fewer US-Born Americans Have Jobs Now Than In 2007

    12/20/2014 8:28:02 AM PST · by RicocheT · 31 replies
    Daily Caller blog ^ | 12/20/2014 | NEIL MUNRO
    Fewer Americans born in the U.S. have jobs now than were employed to November 2007, despite a working-age population growth of 11 million. The amazing drop in employment highlights President Barack Obamaís slow recovery from the deep 2008 shock, but also spotlights many companiesí growing reliance on foreign migrant labor. Almost one in every two jobs added since 2009 have gone to foreign-born workers. In November 2014, one in every five U.S. jobs was held by a foreign-born worker, up from one-in-six jobs in January 2010, according to federal data highlighted by the Center for Immigration Studies. Since November 2007,...
  • Sony CEO Responds to Obama: ĎThe President, the Press and the Public Are Mistaken About W

    12/20/2014 6:28:45 AM PST · by rktman · 22 replies
    theblaze.com ^ | 12/19/2014 | Oliver Darcy
    Following pointed criticism from President Barack Obama for shelving ďThe Interview,Ē Sony Pictures Entertainment on Friday defended its decision, claiming it had no choice but to cancel the filmís Christmas Day theatrical release. Obama said during a press conference Friday that Sony ďmade a mistakeĒ in dropping ďThe Interview.Ē However, the studio fired back, saying the cancellation happened only because the countryís top theater chains pulled out. ďThis was their decision,Ē Sony said in a statement.
  • Pyongyang Shuffle: Hollywood In Dead Panic Over Sony Hack

    12/20/2014 5:54:31 AM PST · by C19fan · 35 replies
    Daily Beast ^ | December 19, 2014 | James Poulos
    In the ebullience that surrounded the supposed end of the Cold War, few analysts worried about the nuggets of communist opposition that the tide of freedom had failed to sweep away. Cuba was harmless. China was capitalizing. Those weird little statelets left in the USSRís wake? Whatever, bro. ........................................................ In fact, Hollywood has amassed so much undisclosed TMZ fodder that itís willing to do whatever the North says. There is no margin for error, and no taking of chances. Spend enough time in the right/wrong circles here in L.A., and youíll pick up a tabloidís worth of sordid stories. Sometimes...
  • A Documented American Stands Up Against Fences

    12/20/2014 4:37:41 AM PST · by Kaslin · 13 replies
    Townhall.com ^ | December 19, 2014 | John Ransom
    To make the White House more secure from undocumented visitors who are just seeking the same kind of freedom to be harassed by a government agency with guns that all Americans enjoy, a blue ribbon panel is suggesting that a better fence be built around the White House. ďAn executive summary of the review released Thursday by the Homeland Security Department,Ē reports the Associated Press, ďalso concluded that the Secret Service needs more uniformed officers and plain clothes agents, better fencing at the White House and more training for officers.Ē The report comes on the heels of several undocumented visits...
  • Congress Again Buys Abrams Tanks the Army Doesn't Want

    12/20/2014 3:29:05 AM PST · by iowamark · 68 replies
    Military.com ^ | 12/18/2014 | Richard Sisk
    The new defense spending bill includes $120 million for tanks that the Army has repeatedly said it doesn't want. For three years, the Army in numerous Congressional hearings has pushed a plan that essentially would have suspended tank building and upgrades in the U.S. for the first time since World War II. The Army suggested that production lines could be kept open through foreign sales. Each time, Congress has pushed back. Last week, Congress won again in the National Defense Authorization Act (NDAA) for Fiscal Year 2015. In a statement, Rep. Mike Turner, R-Ohio, said that Congress "recognizes the necessity...
  • Jeb Bush and Tenet Healthcare Corp - "Bush is dragging a land mine behind him.."

    12/20/2014 1:12:40 AM PST · by Cincinatus' Wife · 23 replies
    The American Thinker ^ | December 20, 2014 | Robert Potts
    Jeb Bush left the Florida governorís office in January of 2007, after eight years of service. Three months later, he joined the board of a hospital company that had been pillaging government health programs and abusing patients, in Florida and around the country, for most of the years he sat in the governorís office. Apart from a very generous compensation package, why did Bush sign on with such a tarnished company? And will whatever explanation he now offers hold up under the microscope of a presidential campaign? Tenet Healthcare Corp. is a national for-profit hospital company with a sordid history....
  • Tourist attraction 'Machine Gun America' opens Saturday in Kissimmee

    12/19/2014 8:25:03 PM PST · by shove_it · 48 replies
    WESH ^ | 19 Dec 2014
    People cannot bring own guns to attraction KISSIMMEE, Fla. óA new tourist attraction promises to give people as young as 13 years old the chance to fire fully automatic weapons. Outside the new attraction, you can hear the unmistakable rat-a-tat-tat of machine guns inside. The automatic weapons are powerful and firing them is intense, but owners are hoping Orlando tourists will want to try the unique experience. "We see this as attractive to someone who might want to go bungee jumping -- adrenaline rush experience," said Bruce Nierenberg, general manager of Machine Gun America Orlando. "There are a lot of...
  • Big Labor Uses Wage Laws to Boost Numbers

    12/19/2014 7:53:20 PM PST · by george76 · 3 replies
    Washington Free Beacon ^ | December 18, 2014 | Bill McMorris
    union carve outs in many minimum wage hikes. Unions may be pushing for resident Obamaís massive minimum wage hike, but many seek special carveouts from existing wage laws, according to a new study. The Chamber of Commerce analyzed dozens of minimum wage laws in cities across the country and found that many of the statutes exempt unionized employees from the requirement. Unions exploit these exemptions in order to make union labor more competitive with non-union shops. ďSome local ordinances in particular include an exemption for employers that enter into a collective bargaining agreement with a union,Ē the report says. ďThis...
  • Where Did the Jobs Go?

    12/19/2014 7:08:48 PM PST · by 2ndDivisionVet · 16 replies
    Powerline ^ | December 19, 2014 | John Hinderaker
    Somewhat remarkably, given that it has presided over the worst recoveryĖby farĖof the post-war era, the Obama administration tries to slice and dice employment numbers to portray itself as a champion of job creation. There are, indeed, a few more jobs today than there were six years ago. Yet for most Americans, the employment scene has gotten worse, not better. Why is that? Senate Budget Committee staff offer data in explanation: According to BLS data, in November of 2007 there were 23.1 million foreign workers in the United States with jobs. Today, the BLS reports, there are 25.1 million foreign...
  • Obama willing to work with GOP on tax overhaul

    12/19/2014 6:20:32 PM PST · by Olog-hai · 25 replies
    Associated Press ^ | Dec 19, 2014 2:27 PM EST
    President Barack Obama says he will try to undertake an overhaul of the tax system with the new Republican majorities in Congress. He says the ďdevil is in the details.Ē He says the tax system needs to be simpler and fairer. He says some corporations engage in tax avoidance while others pay full freight. He also says he would like to combine tax changes with money for capital works projects. Ö
  • Canada Imposes New Sanctions on Russia

    12/19/2014 2:31:53 PM PST · by Berlin_Freeper · 15 replies
    wsj.com ^ | Dec. 19, 2014 | Nirmala Menon
    Canada on Friday imposed a new round of sanctions on Russia, including restrictions on exports of energy technology, as part of its effort to put pressure on President Vladimir Putin for Moscowís involvement in a continuing conflict in neighboring Ukraine.
  • Texas job growth outpaces rest of U.S. combined

    12/19/2014 2:05:31 PM PST · by Cincinatus' Wife · 29 replies
    The Washington Examiner ^ | December 19, 2014 | Jason Russell
    .....Since the recession began in December 2007, 1.2 million net jobs have been created in Texas. Only 700,000 net jobs have been created in the other 49 states combined......... Only North Dakota has outpaced Texas on percent job growth, thanks to jobs created by the fracking revolution. California, Texasí biggest economic rival, has created 985,600 fewer net jobs during the same period. Californiaís 1.5 percent job growth is ten percentage points lower than Texasí percent job growth.............................
  • Staples confirms data breach; up to 1.2M cards affected

    12/19/2014 1:56:37 PM PST · by John W · 32 replies
    cnbc.com ^ | December 19, 2014 | Evelyn Cheng
    CNBCStaples confirmed on Friday a data breach that may have affected more than 1 million cards. An in-house investigation detected malware at some point-of-sale systems at 115 locations, the company said in a press release. Staples has more than 1,400 U.S. retail stores. About 1.16 million cards may have been affected, the release said.
  • Russian sailors leaving France without warship

    12/19/2014 1:22:02 PM PST · by MeatshieldActual · 19 replies
    Yahoo Finance ^ | December 18th, 2014 | SYLVIE CORBET and ANGELA CHARLTON
    PARIS (AP) ó Hundreds of Russian sailors pulled out of a French port Thursday, bearing perfumes for their loved ones but lacking the controversial bounty they came for: a 1-billion-euro, French-built warship that has become a hostage to the biggest East-West conflict since the Cold War. The Vladivostok helicopter carrier is part of a strange and divisive arms deal now on hold ó and perhaps on the verge of collapse ó because of the conflict in Ukraine. France built it for Russia's navy but is now having second thoughts, notably amid heavy U.S. criticism of the deal. After months training...
  • Does Anyone Even Understand the President?

    12/19/2014 12:51:56 PM PST · by Kaslin · 46 replies
    Townhall.com ^ | December 18, 2014 | John Ransom
    Look if you canít screw up the economy in this country anymore, the least you can do is help out the one remaining Stalinist regime in the Americas. Thatís the take away I get from Obamaís phone and pen ploy to ďnormalizeĒ relations with Cuba. Since heís failed at creating jobs here, maybe heíll do a better job creating jobs in communist Cuba, an economy he better understands. After all, Cuba has all those old cars, and Obama loves those Cash for Clunkers. Or maybe itís just this: Obama really hates Hillary so much that heís willing to throw away...
  • Publisher Bitcomposer files for bankruptcy (Video games maker)

    12/19/2014 12:50:34 PM PST · by 2ndDivisionVet · 9 replies
    GamaSutra ^ | December 16, 2014 | Phill Cameron
    Bitcomposer, the publisher of games such as Space Hulk and Jagged Alliance, has filed for bankruptcy after having applied for a protective shield procedure back in September. The company also published Shadowrun Returns in German and Russian. The procedure was applied for on September 26th and protected the company from creditors while it organised a plan for insolvency, reports Develop. It was still able to publish titles in the period of time between then and now, and hopes to find an investor at this point to ensure it can continue to operate as a publisher and aid with development. Bitcomposer...
  • Fed and Congress Signal Trouble, Putin Defends Russia, ISIS War

    12/19/2014 12:38:05 PM PST · by GilGil · 7 replies
    USAWatchdog ^ | 12/19/2014 | Greg Hunter
    My top story is the economy, and I think the Fed and Congress just signaled that something is seriously wrong, and itís going to get worse. First off, the Federal Reserve just came out and said that it was going to be ďpatientĒ when normalizing the monetary policy. I know Wall Street is jubilant and the stock market spiked on the news, but I think this is really ominous, and it is nothing to be celebrated. To me, that means donít expect the Fed to raise interest rates anytime soon because the economy is much worse than what they are...
  • Move to Medicaid: Nearly 10M enrolled since Obamacare launch

    12/19/2014 12:26:32 PM PST · by 2ndDivisionVet · 20 replies
    CNBC ^ | December 19, 2014 | Dan Mangan
    While enrollment on government-run Obamacare exchanges gets the bulk of media attention, sign-ups for Medicaid have been even greater, in no small part due to another part of the Affordable Care Act. Since October 2013, enrollment in Medicaid and the related Children's Health Insurance Program had grown by about 9.7 million people as of this past October, according to data released Thursday by the federal government. That's 17 percent higher than what was the average monthly enrollment level seen from July through September 2013. That bump brings total enrollment in the programs that provide coverage without a premium charge to...
  • Chevron, Statoil Announce First Oil Strike In New Gulf Of Mexico Field

    12/19/2014 12:23:47 PM PST · by Lorianne · 14 replies
    Oil Price ^ | 03 December 2014 | Andy Tully
    Two multinational energy giants, Chevron Corp. of the United States and Norwayís Statoil, have begun extracting oil and gas from the large Jack and St. Malo fields in US waters of the Gulf of Mexico. The two fields are among the largest in the Gulf and are expected to yield 94,000 barrels of oil equivalent and 21 million cubic feet of gas per day for an estimated 30 years, Chevron said in a statement on Dec 2. The Jack fieldís reserves were discovered in 2004 and the St. Malo oil was discovered a year earlier. The fields are situated about...
  • Federal Reserve delays parts of Volcker rule until 2017

    12/19/2014 12:20:11 PM PST · by Lorianne
    BBC ^ | 18 December 2014
    The US Federal Reserve has given Wall Street banks even more time to comply with parts of the Volcker Rule, a key provision of the 2010 Dodd-Frank financial reform bill. The rule prevents federally-insured banks from using their own money when investing in certain risky assets. It will now grant an extension to other types of funds. Initially, the Fed had said banks would have until 21 July 2017 to stop trading in collateralised loan obligations, which essentially move the risk of investments in loans off their balance sheets.
  • North Sea oil industry 'close to collapse'

    12/19/2014 12:13:59 PM PST · by Lorianne · 31 replies
    BBC ^ | 18 December 2014 | Ben King
    The UK's oil industry is in "crisis" as prices drop, a senior industry leader has told the BBC. Oil companies and service providers are cutting staff and investment to save money. Robin Allan, chairman of the independent explorers' association Brindex, told the BBC that the industry was "close to collapse". Almost no new projects in the North Sea are profitable with oil below $60 a barrel, he claims. "It's almost impossible to make money at these oil prices", Mr Allan, who is a director of Premier Oil in addition to chairing Brindex, told the BBC. "It's a huge crisis." "This...
  • The reason oil could drop as low as $20 per barrel

    12/19/2014 12:11:58 PM PST · by C19fan · 68 replies
    Reuters ^ | December 19, 2014 | Anatole Kaletsky
    How low can it go ó and how long will it last? The 50 percent slump in oil prices raises both those questions and while nobody can confidently answer the first question (I will try to in a moment), the second is pretty easy. Low oil prices will last long enough for one of two events to happen. The first possibility, the one most traders and analysts seem to expect, is that Saudi Arabia will re-establish OPECís monopoly power once it achieves the true geopolitical or economic objectives that spurred it to trigger the slump. The second possibility, one I...
  • Feds set standards to regulate coal ash

    12/19/2014 11:53:50 AM PST · by aimhigh · 9 replies
    Knoxville News Sentinel ^ | 12/19/2014 | Michael Collins
    Six years after a devastating coal ash spill in Roane County, the federal government is putting in place standards to regulate ash from coal-fired power plants as a nonhazardous material, the U.S. Environmental Protection Agency announced today. The new rules, the first-ever federal regulations for the storage and disposal of coal ash, would require industries to install liners and put in place other safeguards for new and existing storage ponds. Groundwater monitoring systems would have to be installed to detect pollutants, any existing contamination would have to be cleaned up immediately, and impoundments that are already polluting groundwater above health-safety...
  • Journalist: First Amendment Rights Mean Not Offending The North Korean Dictator, Okay?

    12/19/2014 11:30:47 AM PST · by 2ndDivisionVet · 18 replies
    Townhall ^ | December 19, 2014 | Katie Pavlich
    Did you know that having First Amendment rights in the United States comes with the responsibility not to offend dictators from North Korea? Had no idea? Me either. Last night on CNN "journalist" Sharon Waxman, who has worked at a number of media outlets including the Washington Post, argued that having First Amendment rights means we shouldn't be making fun of North Korean dictators because they might get upset. She was of course referring to the recent and massive hack on Sony pictures by North Korea as retaliation for "The Interview," a comedy about assassinating Kim Jong-Un. "I also want...
  • Indiana cop told to stop selling 'divisive' shirts

    12/19/2014 11:30:05 AM PST · by shove_it · 33 replies
    APee ^ | 19 Dec 2014
    SOUTH BEND, Ind. (AP) -- Some officials in the Indiana city of South Bend have called on a police officer to stop selling T-shirts that make light of the "I can't breathe" refrain used in recent protests of the police killing of a New York City man. Mishawaka police officer Jason Barthel this week began selling T-shirts with the message "Breathe easy, don't break the law" at a South Bend store he owns in response to a weekend protest at the University of Notre Dame. [...] South Bend City Council members Oliver Davis, Henry Davis Jr. and Valerie Schey...
  • The most powerful woman in the world without an army

    12/19/2014 10:15:08 AM PST · by SeekAndFind · 4 replies
    American Thinker ^ | 12/19/2014 | James Longstreet
    The most powerful woman in the world, without an army, just propelled the Dow Jones to a two-day 700-point spike by saying ‚Äúpatience.‚Ä̬† Janet Yellen said the Federal Reserve, the quasi-agency that neither is ‚Äúfederal‚ÄĚ nor has any ‚Äúreserves," can be ‚Äúpatient‚ÄĚ in their rate hikes in 2015. She was quick, and clumsy by other accounts, to confuse the rate hike issue, with language suggesting that it might not happen at all.¬† In the vein of the famous watering hole sign, ‚Äúfree beer tomorrow,‚ÄĚ Yellen essentially gave the message that rates would go up in 2015, but they might...
  • Hambrick removes Fiore from Assembly leadership positions ó again

    12/19/2014 10:12:27 AM PST · by redreno · 4 replies
    http://www.reviewjournal.com ^ | December 18, 2014 - 6:51pm | By SEAN WHALEY
    CARSON CITY ó Las Vegas Assemblywoman Michele Fioreís tax liens and problems with the IRS were cited in her second removal from Assembly leadership positions Thursday. Fioreís removal could clear the way for moderate Republicans to control the Assembly in the 2015 session and eliminate any talk of a GOP-Democratic partnership challenge to the leadership. It could also smooth the way for Gov. Brian Sandoval to win more funding for public education. Assembly Speaker designate John Hambrick reversed course on Fiore for a second time in recent weeks and removed the controversial lawmaker as majority leader. She has also been...
  • Checkmate: Is Russia Selling Oil For Gold?

    12/19/2014 10:05:33 AM PST · by Strategy · 55 replies
    SilverDoctors ^ | December 19, 2014
    Very few people understand what Putin is doing at the moment. And almost no one understands what he will do in the future. No matter how strange it may seem, but right now, Putin is selling Russian oil and gas ONLY for physical gold. How long will the West be able to buy oil and gas from Russia in exchange for physical gold? And what will happen to the US petrodollar after the West runs out of physical gold to pay for Russian oil, gas and uranium, as well as to pay for Chinese goods?
  • Homer Simpson Could School Obama On Castro

    President Obama's deal to normalize relations with Castro reminds us of a fantastic 1998 episode of the long-running animated series The Simpsons, "The Trouble With Trillions." In that episode, we learn that Montgomery Burns had made off with the $1 trillion bill that President Truman printed in 1945 to pay for Europe's postwar reconstruction. When the FBI finally uncovers Burns' deception, he flees the country, looking for an island to buy, and, flying over Cuba, decides that it "has 'freedom' written all over it." Burns, with Homer accompanying him, goes to see Castro, who just moments before was about to...
  • Sony's Pascal to work w/Sharpton against 'cultural blindness' after racially insensitive emails

    12/19/2014 9:32:20 AM PST · by 2ndDivisionVet · 35 replies
    The Guardian & Observer ^ | December 19, 2014 | Ben Beaumont-Thomas
    Sony executive at the heart of the leaked emails met with the civil rights activist to discuss battling an Ďexclusionary, almost all-white hierarchyí in Hollywood.Amy Pascal, the embattled executive whose personal emails were exposed by the hack on Sony Pictures, has met with civil rights advocate Al Sharpton to discuss white bias in Hollywood. The meeting was prompted by leaked emails from Pascal to producer Scott Rudin, in which the pair joke about Barack Obamaís likely taste in films. ďWould he like to finance some movies?Ē Rudin asked, ahead of Pascal meeting the president. ďI doubt it. Should I ask...
  • The rise of the populists: Could Warren, Cruz and Sessions change Washington?: opinion

    12/19/2014 7:58:42 AM PST · by 2ndDivisionVet · 26 replies
    The Birmingham News ^ | December 19, 2014 | Cameron Smith
    For many conservatives, agreeing with Senator Elizabeth Warren (D-MA) is a rare occurrence. Warren is a pure collectivist who views strong government control as a critical mechanism for politicians to "improve" the lives of Americans as they see fit. Her liberal voting record and view that individual financial success creates a social obligation to pay heavy taxes reinforce those perspectives. Yet, in her recent opposition to federal spending legislation, Warren correctly noted that reinstituting federal insurance for riskier financial products like credit default swaps was a concession to the largest banks in America contrary to the interests of most taxpayers....
  • US stripper well operators eye closures amid low oil prices

    12/19/2014 6:30:24 AM PST · by thackney · 30 replies
    Financial Times ^ | 14 DEC 2014 | Gregory Meyer
    Analysts examining the effect of the oil priceís precipitous decline on companies should spare a thought for stripper well operators, the mom-and-pop businesses that coax the last trickles of crude from long-ago drilled holes. Although tiny in isolation ó the average stripper well yields less than 2 b/d ó there are more than 400,000 such wells in the US supplying about 11 per cent of US oil production. They produced 700,000 barrels per day in 2012, the latest year for which data are available ó as much as the OPEC member Qatar, according to data from the Interstate Oil &...