Reason vs communist thinking…
Watch after mark 1:50 it is gold…
The following is again all good… Especially on the points that corporation don’t pay taxes but pass them to the consumers, universities will slash tuition if the government subsidies stop, that people should not fear corporation that offer them a products or services…
LOL the clueless woman that ask him at 3:12, who he is and what he represents…..
LOL…It is photoshoped, but it is funny
For those who do not remember, here it is the story - Computer Wins on ‘Jeopardy!’: Trivial, It’s Not
You also still can find videos of the man vs computer battle on youtube
Obama to offer student loan relief –
Obama will use his executive authority to provide student loan relief in two ways.
First, he will accelerate a measure passed by Congress that reduces the maximum repayment on student loans from 15 percent of discretionary income annually to 10 percent. The White House wants it to go into effect in 2012, instead of 2014. In addition, the White House says the remaining debt would be forgiven after 20 years, instead of 25. About 1.6 million borrowers could be affected.
Second, he will allow borrowers who have loans from both the Family Education Loan Program and a direct loan from the government to consolidate them into one loan. The consolidated loan would be up to a half percentage point less. This could affect 5.8 million more borrowers.
Greenspan: Why European Union Is Doomed to Fail -
“The effect of the divergent cultures in the eurozone has been grossly underestimated,” he added. “The only way to have several currencies from divergent nations lumped together is if they are culturally close, such as Germany, the Netherlands and Austria. If they aren’t, it simply can’t continue to work.”
LOL Who said that same thing back in January 2009? It was the cynical economist….Is EU Going To Break Up?
The current EU welfare state is unsustainable. Cultural and political differences are standing on the way of a budgetary reform….The EU is made of very diverse sovereign nations, who would defend their national interest befor the interest of the EU.
New Obama Foreclosure Plan Helps Banks At Taxpayers’ Expense –
The newly expanded program would expunge legal liabilities associated with mortgages refinanced through the program for the original lenders of the mortgages. Each time a bank sent a loan to Fannie and Freddie, it certified that the loan met Fannie and Freddie’s safe lending criteria. But many loans sent to the mortgage giants did not, in fact, meet those criteria. Currently, when borrowers default on those ineligible loans, the mortgage giants can “put back” the resulting losses onto the banks that pushed the loans.
Under the modified plan, “put back” liability at banks will be erased for any underwater mortgage that is refinanced through HARP, eliminating Fannie and Freddie’s ability to sack lenders with losses in the event that the mortgage does not pan out.
It’s Consumer Spending, Stupid –
AS an economic historian who has been studying American capitalism for 35 years, I’m going to let you in on the best-kept secret of the last century: private investment — that is, using business profits to increase productivity and output — doesn’t actually drive economic growth. Consumer debt and government spending do. Private investment isn’t even necessary to promote growth.
Really!? We can spend us to prosperity? LOL…
There Are Only 2 Ways to Save the Economy: Innovation or Inflation –
It all comes down to this: We have to match growth to debt. If we can’t create miracles from growth, we have to consider inflation to reduce the value of our debt
In a presentation that touched on World War III, drug abuse and the failure of the welfare state, Mr. Faber said:…..
Some good points here
California’s Economic Suicide –
The question is why — in the face of evidence that the prospect of imminent doom from man-caused weather danger is on overhyped scam based on doctored data — California risks repeating the sad experience of Spain. There, subsidized windmills and solar panels dotted the landscape, only to wind up with a collapsed economy that lost 2.2 jobs for every “green job” created.
Follow the money…
President Barack Obama told an audience in Nevada on Monday that he will be regularly announcing “executive actions” his administration will take to “heal the economy” without the “dysfunctional” Congress.
Everyone, bow down to Tzar Obama!
Wynn: “I’m Frightened To Death About The Future Of Business”
Poll: Regulations top issue for small businesses –
As the White House and Republicans battle over regulations, a new poll finds that small-business owners rank “complying with government regulations” as the most important problem that they face.
Duh!
The global debt apocalypse approaches…
Faster than you think
Everything You Need to Know About Public School Spending in Less Than 2½ Minutes
US States Are Facing Total Debt of Over $4 Trillion - The nonprofit State Budget Solutions combined states’ major debt and future liabilities, primarily for pensions and employee healthcare, unemployment insurance loans, outstanding bonds and projected fiscal 2011 budget gaps. It found that in total, states are in debt for $4.2 trillion. Yep, $4.2 TRILLION!
They want $lice of the occu-pie – Occupy Wall Street’s Finance Committee has nearly $500,000 in the bank, and donations continue to pour in — but its reluctance to share the wealth with other protesters is fraying tempers. LOL The human nature….
Madoff ‘loves’ jail – Evil Ponzi schemer Bernie Madoff loves prison and even boasted in a jailhouse letter that he is “quite the celebrity” and is treated like a “Mafia don” behind bars. For sure he is safer their than on NY streets
Home Prices Fall More Than Forecast in August - Home prices in 20 U.S. cities dropped more than forecast in August, highlighting one of the obstacles facing the economic recovery in its third year.
Consumer confidence tumbles in October – Consumer confidence unexpectedly dropped to its lowest level in two-and-a-half years in October as consumers fretted about job and income prospects. Unexpectedly???
Possible study of anthrax vaccine’s effectiveness in children stirs debate – The vaccine has been tested extensively in adults and has been administered to more than 2.6 million people in the military. But the shots have never been tested on or given to children, leaving it uncertain how well the vaccine works in younger people and at what dose, and whether it is safe. Unlike with measles, mumps and other diseases, the chance that children will be exposed to anthrax is theoretical, making the risk-benefit calculus of testing a vaccine on them much more questionable. Here we go. Our government wants to turn our kids into a test subjects.
Why Politicians Lose So Much Money Trying To Pick Winners – The Solyndra scandal offers us a reminder that government isn’t very good at picking winners and shouldn’t try to do it. Thanks to Obama administration connections, this California‑based solar panel maker had a $535 million spending blowout at the taxpayers’ expense, then fired everybody – some 1,100 jobs. But there continues to be relentless lobbying for government to back other ventures touted as essential for our future.
Prolonging The Foreclosure Mess – Say a borrower going through HARP decides that a few hundred bucks in monthly savings don’t outweigh the tens of thousands of dollars owed beyond the value of the house. He walks on it anyway.
Guess who takes the loss? Taxpayer-backed Fannie Mae or Freddie Mac, that’s who.
Occupy Wall Street campground becoming spot for vagrants, ex-cons & ‘takers’ to call home – “If you’re going to come here and get our food, bedding and clothing, have books and medical supplies for no charge, they need to give back,” Digioia said. “There’s a lot of takers here and they feel entitled.” LOL How ironic is this situation…
Occupy Toronto: The one-week anniversary party - “It’s weird protesting on Bay Street. You get there at 9 a.m. and the rich bankers who you want to hurl insults at and change their worldview have been at work for two hours already. And then when it’s time to go, they’re still there. I guess that’s why they call them the one per cent. I mean, who wants to work those kinds of hours? That’s the power of greed.” – Jeremy, 38 . Jeremy will never understand why he is going to be poor all his life
Business to pols: Shape up – The chief executives at some of Illinois’ largest companies think economic conditions are better in neighboring states. They expect economic growth here to lag the nation’s growth. They believe Illinois taxes are a roadblock to investment. They have no faith that political leaders will use the 67 percent income tax increase imposed this year to put state government on firmer financial ground.
Can the Youth Vote Be Bought For a Trillion Dollars? - For those not paying close attention, outstanding student loan debt will soon pass the trillion dollar mark, exceeding the nation’s total credit card debt. Following the arc of the now-nationalized home mortgage market, the student loan market has evolved from being privately managed to government subsidized, to government guaranteed, and finally to government owned and operated.
U.S. Refinance Fix Viewed as Unlikely to ‘Shock and Awe’ Economy - Lawmakers and analysts briefed on plans by the independent Federal Housing Finance Agency estimate they will help less than 1 million borrowers — and perhaps as few as 600,000 — of the 11 million whose mortgages are higher than the value of their homes.
Merrill Lynch: US in Line for Another Downgrade – The United States will likely suffer the loss of its triple-A credit rating from another major rating agency by the end of this year due to concerns over the deficit, Bank of America Merrill Lynch forecasts.
The trigger would be a likely failure by Congress to agree on a credible long-term plan to cut the U.S. deficit, the bank said in a research note published on Friday.
Obama to announce actions on housing, student loans - President Barack Obama this week will announce a series of actions to help the economy that will not require congressional approval, including an initiative to make it easier for homeowners to refinance their mortgages, according to a White House official.
Vatican calls for global authority on economy, raps “idolatry of the market” - The Vatican called on Monday for the establishment of a “global public authority” and a “central world bank” to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises. The document from the Vatican’s Justice and Peace department should please the “Occupy Wall Street” demonstrators and similar movements around the world who have protested against the economic downturn.
New euro ‘empire’ plot by Brussels – European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 eurozone nations.
New international organization to bring world religions under one roof – Saudi Arabia has financed the founding of a new international organization in Vienna designed to bring the world’s religions together. The organization hopes to prevent conflict through interfaith dialogue.
World power swings back to America - The American phoenix is slowly rising again. Within five years or so, the US will be well on its way to self-sufficiency in fuel and energy. Manufacturing will have closed the labour gap with China in a clutch of key industries. The current account might even be in surplus.
China searches for the next Steve Jobs - “Chinese entrepreneurs are most likely smarter and more aggressive than [those] in the US,”Dave McClure, a venture capital investor from Silicon Valley told the audience. “Beijing is one of the few places in the world where the pace of innovation is faster than in Silicon Valley.” LOL In my opinion the things that are faster in China are theft of patents and reverse engineering of products and technologies
2 teachers union lobbyists teach for a day to qualify for hefty pensions – Two lobbyists with no prior teaching experience were allowed to count their years as union employees toward a state teacher pension once they served a single day of subbing in 2007, a Tribune/WGN-TV investigation has found.
The Little State With a Big Mess – It is not just the Rhode Island. Where are we going to get the money to bail out all state pensions?
Krugman has a solution – borrow and print! - Think about countries like Britain, Japan and the United States, which have large debts and deficits yet remain able to borrow at low interest rates. What’s their secret? The answer, in large part, is that they retain their own currencies, and investors know that in a pinch they could finance their deficits by printing more of those currencies.
Dept. of Energy Revises History – Why those people are not in jail?
Obama Has Actually Raised More Money from Wall Street Than Romney - Despite frosty relations with the titans of Wall Street, President Obama has still managed to raise far more money this year from the financial and banking sector than Mitt Romney or any other Republican presidential candidate, according to new fundraising data.
Austan Goolsbee flunks ‘cash for clunkers’ – Former Obama administration economic adviser Austan Goolsbee said Thursday that if given a second chance he would not have backed the Cash for Clunkers program or the home buyer tax credit passed in 2009 to stave off further economic distress. Too late now Goolsbee…The american people are paying the price of you stupid decisions
Senators Draft Bill to Give Visas to Foreigners Buying Pricey Homes – Lets inflate the housing market again
Congressman: Obama should unilaterally ‘refinance every home mortgage’ [VIDEO] - Virginia Democratic Rep. Jim Moran told The Daily Caller on Thursday evening that President Obama should “refinance every home mortgage” without congressional approval in order to “reset the economy.” Whats the worst that can happen?
Sleight of hand: BofA moves dodgy Merrill derivatives to bank – A plan by beleaguered Bank of America to foist trillions of dollars of funky Merrill Lynch derivatives onto its depositors is raising eyebrows on Wall Street.
The rarely used move will likely save the bank millions of dollars in collateral but could put depositors’ cash behind the eight ball. (…And probably the taxpayers will end up paying the final bill)
5 Super-Rich Americans Who Started Out Super-Poor - Time and again, talented, enterprising and hardworking Americans have shown that great successes can come from humble beginnings. The belief that everyone has the opportunity to make it big if they work hard enough, regardless of their background or connections, is a shared American value dating back to our country’s beginnings.
Does one ‘super-corporation’ run the global economy? Study claims it could be terrifyingly unstable - Research found that 147 companies formed a ‘super entity’ within group, controlling 40 per cent of its wealth. Economists such as John Driffil of the University of London, a macroeconomics expert, told New Scientist that the value of its study wasn’t to see who controlled the global economy, but the tight connections between the world’s largest companies.
Revealed – the capitalist network that runs the world - So, the super-entity may not result from conspiracy. The real question, says the Zurich team, is whether it can exert concerted political power. Driffill feels 147 is too many to sustain collusion. Braha suspects they will compete in the market but act together on common interests. Resisting changes to the network structure may be one such common interest.
1. Barclays plc
2. Capital Group Companies Inc
3. FMR Corporation
4. AXA
5. State Street Corporation
6. JP Morgan Chase & Co
7. Legal & General Group plc
8. Vanguard Group Inc
9. UBS AG
10. Merrill Lynch & Co Inc
11. Wellington Management Co LLP
12. Deutsche Bank AG
13. Franklin Resources Inc
14. Credit Suisse Group
15. Walton Enterprises LLC
16. Bank of New York Mellon Corp
17. Natixis
18. Goldman Sachs Group Inc
19. T Rowe Price Group Inc
20. Legg Mason Inc
21. Morgan Stanley
22. Mitsubishi UFJ Financial Group Inc
23. Northern Trust Corporation
24. Société Générale
25. Bank of America Corporation
26. Lloyds TSB Group plc
27. Invesco plc
28. Allianz SE 29. TIAA
30. Old Mutual Public Limited Company
31. Aviva plc
32. Schroders plc
33. Dodge & Cox
34. Lehman Brothers Holdings Inc*
35. Sun Life Financial Inc
36. Standard Life plc
37. CNCE
38. Nomura Holdings Inc
39. The Depository Trust Company
40. Massachusetts Mutual Life Insurance
41. ING Groep NV
42. Brandes Investment Partners LP
43. Unicredito Italiano SPA
44. Deposit Insurance Corporation of Japan
45. Vereniging Aegon
46. BNP Paribas
47. Affiliated Managers Group Inc
48. Resona Holdings Inc
49. Capital Group International Inc
50. China Petrochemical Group Company
* Lehman still existed in the 2007 dataset used
A Long, Steep Drop for Americans’ Standard of Living – The standard of living for Americans has fallen longer and more steeply over the past three years than at any time since the US government began recording it five decades ago.
Beltway Earnings Make U.S. Capital Richer Than Silicon Valley - Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show.
Harry Reid: Private Sector Jobs Are Doing Just Fine, It’s Government Jobs We Need to Worry About - The Democrat Party tries to cultivate an image as wise technocrats who know better than private citizens how the wealth of America should be “invested” to produce the maximum public good. In reality, they’re a band of statist lunatics who don’t have a clue how anything in the private sector works at all. Some of them are barely aware the private sector exists,except as a piggy bank filled with money for politicians to spend on the really important stuff.
First look at US pay data, it’s awful – The median paycheck — half made more, half less — fell again in 2010, down 1.2 percent to $26,364. That works out to $507 a week, the lowest level, after adjusting for inflation, since 1999.
Blame the Fed for the Financial Crisis – The Fed fails to grasp that an interest rate is a price, the price of time. Attempting to manipulate that price is as destructive as any other government price control.
Americans Blame Gov’t More Than Wall Street for Economy - Americans are more than twice as likely to blame the federal government in Washington (64%) for the economic problems facing the United States as they are the financial institutions on Wall Street (30%).
Visible Projects, Hidden Destruction - The real cost of government efforts at job creation.
America at Stall Speed?- Judging from the skittishness of both markets and “consensus expectations,” the United States’ economic prospects are confusing. One day, the country is on the brink of a double-dip recession; the next, it is on the verge of a turbo-charged recovery, powered by resilient consumers and US multinationals starting to deploy, at long last, their massive cash reserves. In the process, markets take investors on a wild rollercoaster ride, with the European crisis (riddled with even more confusion and volatility) serving to aggravate their queasiness.
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