Another snow storm. * Sigh * Hopefully, our morning train reads will help you through the rest of our winter of discontent:
• What happens when US rates rise? Three Scenarios (Medium) see also The Blueprint for a Bond Bear Market? (A Wealth of Common Sense)
• Janet Yellen, Forecasting Ace (Real Time Economics)
• Passive management vs. saving more (Noahpinion) but see Yale Sticks to Endowment Model, Despite Critiques (Chief Investment Officer)
• U.S. Companies Are Stashing $2.1 Trillion Overseas to Avoid Taxes (Bloomberg)
• No, the Banks Aren’t Losing (Pro Publica)
The Obama Rally
http://thecaucus.blogs.nytimes.com/2009/03/03/obama-says-he-isnt-focused-on-stock-market-gyrations/
http://www.usnews.com/news/obama/articles/2009/03/04/obama-says-buy-stocks-now-good-deals-there-for-long-term-investors
It hurts GOP feelings. You know people who’ve sat it out because of their irrational Republican genuflecting. Being irrational, voting, donating to lunatics has consequences.
Making predictions that Obama will ruin America does not. Stop making predictions Republicans, your track record is shit.
“Secret Science” is the new Republican game….
”..The secret science bill, for example, would apparently bar EPA from using public health studies based on confidential patient information…”
http://news.sciencemag.org/environment/2015/03/u-s-house-prepares-vote-controversial-epa-secret-science-and-science-advice
Like their “Clean Air Act” this bill is about throwing out public health data that has been collected with privacy riders.
More Republican builshit that fool low information voters who look at the name of the bill.
Good for Schilling. Is that sxxt common? I thankfully lead a sheltered life. I’m no angel but that shxt is vile. And he has bully pulpit. What about those who don’t? What do they do with these sick fxxks? Or is that how most juvenile boys have always talked and twitter just exposes this horrid banter?
– Talking about “Winter of Discontent”:
http://www.conservapedia.com/Winter_of_Discontent
– The blueprint for US interest rates in the next months/years is the 1930s.
A little trigger-happy.
Hospital Stocks Surge After Justice Kennedy Criticizes Obamacare Challenge
(Bloomberg) — Tenet Healthcare Corp. and HCA Holdings Inc. led a rally among hospital companies as a Supreme Court challenge to Obamacare’s insurance subsidies drew questions from a pivotal justice. ….
NB: Mabe next time just ignore wingnut theater and stick with a sector that obviously should have been overweighted on the metrics from the get-go.
Illinois legislators ask for $2 /mo increase to Illinois Power users (aka people)
“…Illinois would lose 8,000 jobs and $1.8 billion in economic activity if just three nuclear plants close.…”
http://www.chicagobusiness.com/article/20150304/BLOGS02/150309899/area-congressmen-lobby-hard-for-nuclear-industry
Soooo… the nukes they promised would be low-cost aren’t. Well, well well.
So where would the activity “Go” if nat. gas is cheaper? You mean everyone in the state would have cheaper gas? Huh. Maybe that would BRING jobs.
Rant and Rave and make up stuff and your poll numbers rise in America
http://www.huffingtonpost.com/2015/03/04/netanyahu-popularity_n_6801946.html
And you wonder why the GOP does what they do?
It works. it’s marketing. They marketing loudness to you and you dig it.
Overseas Trillions
The GOP will tell you “It’s been taxed already” but fail to mention it’s at one or two percent!
That’s no where near anyone’s corporate rate, but at special offshore rates by these tax havens that the world can’t seem to close down global bank access to because… well just because.
“…The money pileup, reflecting companies’ incentives to park profits in low-tax countries, has drawn the attention of President Barack Obama and U.S. lawmakers, who see a chance to tap the funds for spending programs and to revamp the tax code. That effort is stalled in Washington, and there are few signs that tech companies will bring the profits back to the U.S. until Congress gives them an incentive or a mandate…”
Mandate it. Shut of access to the global wire system. If pip squeak countries don’t raise their taxes, end airline and bank connections.
It’s YOUR share to the debt and deficit they are gaming. They are suckering YOU.
End the Reagan Loophole that created this problem
“…But in 1986 Congress changed the rules, retaining the penalty tax on domestic cash hoarding but allowing multinationals to hold unlimited amounts of cash so long as they sent the money offshore. This act incentivized the enormous world of offshore tax avoidance we see today, as chronicled in my book “Perfectly Legal” and other books such as Nicholas Shaxson’s excellent “Treasure Islands…”
http://www.amazon.com/Perfectly-Legal-Campaign-Rich—Everybody/dp/1591840694/
The Fed Knew the Economy Was a Disaster in 2009. Here’s What They Talked About Instead.
…a recurring theme in 1,600 pages of transcripts released Wednesday: sweating the small stuff when the global economy was burning. Earlier installments of the transcripts showed a committee of policy makers struggling to understand the grave peril facing the domestic economy. But by 2009 virtually the entire committee had a clear understanding of the economic disaster that was underway. That clear understanding just did not always carry over to a sense of great urgency.
…a few central bank officials did display a combination of sharp economic analysis and a sense of urgency in trying to combat the downturn.
But even as the unemployment rate soared by half a percentage point each month early that year, voices urging more aggression to fight the Great Recession were often counterbalanced by fretting over all the possible downsides of their actions.
NB: We’ve grown used to pundits, politicians and punters misunderstanding the economy and making bad predictions but the Fed has failed to meet its dual mandate — undershooting both its inflation target and its unemployment target — virtually every quarter for seven years straight and there were, and still are, FOMC members arguing for contractionary/anti-inflationary policy every damned step of the way.
Per Deitrich Dorner’s “The Logic of Failure”, the Fed was handling the 2009 crisis correctly, thinking everything through and making incremental moves.
http://www.amazon.com/The-Logic-Failure-Recognizing-Situations-ebook/dp/B0010O0CS0
The Fed’s problem was that they did not follow this process in the late 90s and mid 2000s as they got arrogant and complacent under Greenspan. As a result, they didn’t make the appropriate policy adjustments when they could have prevented the crisis.
I fear the potential for another crisis looming, but this one I don’t believe will be caused by the Fed. Instead, the DOJ/SEC have not done their job investigating and cleaning out bad actors which has left a lot of rot in the heart of the financial system. Simultaneously, the developed economies’ governments have not yet learned about how dangerous rigorous austerity can be. as a result, there is a lack of demand that the Fed has not been able to replace through their tools, leading to some imbalances.
you mean the rotten apples with all of their jobs? we cant close, we cant arrest, think of the jobs being lost
all the while we have dropped the workers comp protection because
it cost too much
and
jobs!!
i did mention jobs right?
Manhattan Real-Estate Costs Hit Record Highs up 19%
http://nymag.com/daily/intelligencer/2015/01/manhattan-real-estate-costs-hit-record-highs.html
Obama’s give away to liberal elite! While hardworking white Americans in the forgotten Red States shoulder the burden of Obama’s regulatory overreach at home and weak-willed cowardice abroad.
Foreign donors! Clinton’s foreign money!
http://nymag.com/news/features/foreigners-hiding-money-new-york-real-estate-2014-6/
How many foreign -giveaway real estate emails does she have?
O’Reilly is finished.
http://mediamatters.org/video/2015/03/04/msnbcs-maddow-ridicules-fox-news-for-hyping-ore/202769
Unfortunately not. The only thing that matters in TV is ratings and O’Reilly’s are up! He is making more money for Fox than before. Unless they find evidence that he is a serial killer or rapist, he will probably make it through just fine, probably even score a pay raise.
http://deadline.com/2015/03/bill-oreilly-ratings-2015-controversy-1201386281/
probably becoming a plus for him now
He can’t give it away FAST ENOUGH: Bill Gates richest man in world again
Microsoft founder back on Forbes rich list
3 Mar 2015
Despite Bill Gates’ best efforts to offload his massive pile of cash, it seems there’s literally nothing the Microsoft founder can do to avoid being the richest man in the world.
Gates was named wealthiest human on the planet by Forbes for 16 of the past 21 years. According to the research, last year Gates made more money than he gave away.
His fortune comes in at $79.4bn, up from $76bn this time last year, but down from $81bn in September. In October 2014 Forbes also named him “the most philanthropic American”, having donated $2.65bn to charity.
Silicon Valley created 23 new filthy rich individuals last year, including Evan Spiegel from Snapchat, who at 24 was the youngest billionaire with a fortune of $1.5bn.
Other new-comers include the founders of “sharing economy” companies including such as Uber’s Travis Kalanick ($5.3bn) and Airbnb’s Brian Chesky ($1.9bn).
…
http://www.theregister.co.uk/2015/03/03/bill_gates_forbes_richest/
some sliver of
light in wally street land?
http://www.nakedcapitalism.com/2015/03/rebuke-cronyistic-new-york-fed-tbtf-bank-supervision-shifted-fed-board-governors.html
the heavy belt?
http://krugman.blogs.nytimes.com/2015/03/05/heavy-politics/