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Business/Economy (Bloggers & Personal)

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  • U.S. Bank closes UC Davis branch, citing disruption by Occupy protesters

    03/19/2012 4:06:14 PM PDT · by 2ndDivisionVet · 8 replies · 1+ views
    The Modesto Bee ^ | March 19, 2012 | Mark Glover
    Citing chronic disruption of business by Occupy movement protesters, Minnesota-based U.S. Bank has closed its branch office on the University of California, Davis, campus. In a March 1 letter to the UC Board of Regents, the bank said Occupy protesters have intermittently blocked the door to the bank branch in the Memorial Union since January. The bank chose to close during some of the protests. The bank said the situation ultimately became "intolerable." UC officials said they believe the termination letter is premature, noting that UCD had been in discussions with bank representatives about the future of the branch office....
  • Italy is trapped in a monetary Völkerkerker

    03/19/2012 3:31:11 PM PDT · by bruinbirdman · 4 replies
    The Telegraph ^ | 3/19/2012 | Ambrose Evans-Pritchard
    Another month, another blow for Italy. Industrial orders fell 7.4pc in January, according to ISTAT. Domestic orders fell 7.6pc. Output fell 4.9pc, as you can see from this chart: This follows the release of construction data on Friday showing a 10.9pc fall in output. This debacle was entirely predicted by monetary data six to nine months ago, as you can see: The M3 money data is at last improving very slightly (ie, it is collapsing less fast) but M1 is falling ever faster. We’ll see how that plays out. I wish premier Mario Monti all the best. He is one...
  • House Will Kill Obamacare's Medicare Rationing Panel This Week

    03/19/2012 12:53:59 PM PDT · by 92nina · 10 replies · 1+ views
    ATR ^ | 2012-03-16 | Ryan Ellis
    The U.S. House of Representatives this week will be voting on H.R. 452, the “Medicare Decisions Accountability Act of 2011.” This bill would repeal the Medicare rationing board known as “IPAB,” and is part of a full repeal of the jobs-killing Obamacare law. The harmful Obamacare law created a new and unelected government panel known as “IPAB.” The basic role of IPAB would be to institute price controls and rationing within the Medicare system. This is the same type of wrong-headed price controls attempted in socialized medicine systems throughout the world. It doesn’t work anywhere else, and it won’t work...
  • Class Action Filed Against Taxpayer-Backed First Solar

    03/19/2012 11:31:14 AM PDT · by jazusamo · 5 replies · 1+ views
    National Legal & Policy Center ^ | March 19, 2012 | Paul Chesser
    Securities law firms are lining up to get a piece of the action after a class action lawsuit was filed against federally subsidized First Solar, Inc., allegedly because the company failed to disclose the massive costs it was incurring due to defects in its solar panels, leading investors to believe the company’s stock was worth more than its actual value. The complaint, filed by the New York-based Pomerantz, Haudek, Grossman, & Gross law firm, claims that First Solar executives – including founder Michael Ahearn and former CEO Robert Gillette – “made false and/or misleading statements, as well as failed...
  • Obama Takes Credit for Thwarting Runaway Oil Drilling

    03/19/2012 11:28:26 AM PDT · by John Semmens · 2 replies · 1+ views
    Semi-News/Semi-Satire ^ | 17 March 2012 | John Semmens
    President Obama’s efforts to blunt the political disadvantage of rising gasoline prices took both a zig and a zag this past week. In an attempt to provide a contrast with the growing popularity of the GOP’s “drill here, drill now” pitch, Obama promised he would “never allow the ‘gluttons of greed’ to drill in your back yard or your front yard, no matter how hard they push for it.” To prevent gasoline prices from surging over the summer, as many have predicted, the President has ordered the release of oil from the nation’s strategic reserve. Conceived as insurance against the...
  • The Chinese Double Standard

    03/19/2012 11:16:34 AM PDT · by geraldmcg · 6 replies ^ | 03/19/2012 |
    THE PROBLEM: 1. China has defaulted on much of its 1912‐1941 debt to US citizens and the government. 2. China settled the same debts with Great Britain in 1987. 3. In an era when our debt to the Chinese is at historic highs, why has the US government not brought the Chinese to the table in a constructive fashion in order to resolve its outstanding debt? THE DOUBLE STANDARD:
  • SEC Supports Goldman Sachs v Shareholders

    03/19/2012 11:11:22 AM PDT · by Razzz42 · 2 replies · 1+ views
    Armstrong Economics ^ | March 18, 2012 | Martin Armstrong
    Anyone who has traded with Goldman Sachs most likely knows it is always an adversarial relationship. Banks that trade do so for themselves and employees are compensated according to the profits made on the desk. That is the nature of the business. However, Goldman Sachs is primarily a trader. That is where the profits have come from not the rudimentary workings of banking. So to some extent those who complain about employee compensation should invest in some other business where talent is not rewarded. That said, there is a substantial difference between making a normal spread and carrying a book...
  • Government math: $1 million subsidy for Reno windmills saves $2,785 since 2010

    03/19/2012 11:11:16 AM PDT · by NevadaPolicyResearchInstitute · 11 replies · 1+ views
    Write on Nevada ^ | 3/19/2012 | Victor Joecks
    From the Reno Gazette-Journal: Nearly two years after Reno started installing energy-producing windmills at city facilities from downtown to Stead, some have proven to be better at generating electricity than others despite claims made by manufacturers. The city’s seven windmills have so far saved Reno $2,785 in energy costs after generating 25,319 kilowatt-hours of electricity. The windmills were installed between April and October 2010 and cost about $1 million out of a $2.1 million federal energy grant given to the city that was part of the stimulus package approved by Congress in February 2009. That’s according to data available...
  • Here’s a surprise (not really): Jerry Brown over estimates how much his tax will generate

    03/19/2012 11:07:41 AM PDT · by Mark Landsbaum · 5 replies
    Gov. Jerry Brown’s plan to raise your taxes would raise less than he planned, according to the nonpartisan Legislative Analyst. So Brown came up with another plan, caving in to union demands. Now Brown would raise your taxes even more. Does Jerry Brown have it right this time? Guess what the Legislative Analyst says about this new, improved (higher) tax plan? Just two days after the governor announced his “compromise” ballot measure to raise taxes, California’s top budget analyst said today the measure will generate $2.2 billion less next year than Brown has estimated...
  • Ally Financial Failure Jeopardizes Auto Bailout 'Success' (Old GMAC)

    03/19/2012 11:06:05 AM PDT · by jazusamo · 5 replies
    National Legal & Policy Center ^ | March 19, 2012 | Mark Modica
    Ally Financial seldom gets mentioned when the auto bailouts are discussed. The company was formerly known as GMAC and the 17 billion dollars that taxpayers sunk into the company was crucial for the perceived success at both General Motors and Chrysler . We now learn that Ally Financial has failed a government stress test and, according to Reuters, "fared by far the worst of 19 banks examined." Years back, GMAC changed its name to Ally Financial to dissociate itself from GM. Just changing a name can not negate the fact that the $17,000,000,000 Ally Financial received from taxpayers went...
  • A City At the End of Its Rope

    03/19/2012 10:27:12 AM PDT · by MichCapCon · 16 replies
    Michigan Capitol Confidential ^ | 3/17/2012 | Anne Schieber
    ALLEN PARK — It was an odd fact to come out at a city council meeting, but again, these are not normal times for the city of Allen Park. On Tuesday night, it was revealed that the city is now paying finance charges on a credit card bill from the Home Depot because it can’t pay off the balance of a couple of hundred dollars. Residents have had enough and now they’ve convinced city leaders of the need for help. This week, the Allen Park City Council stated publicly that it needs an emergency manager to be appointed under Michigan...
  • Obamacare's Five Tax Increases That Most Hurt Seniors

    03/19/2012 9:43:57 AM PDT · by 92nina · 3 replies · 1+ views
    ATR ^ | 2012-03-18 | Ryan Ellis
    The jobs-killing Obamacare law contains 20 new or higher taxes on American families and employers. Many of these tax increases fall on families making less than $250,000--a direct violation of candidate Obama's promise not to raise "any form" of taxes on these families. In less than a week, the third anniversary of Obamacare being signed into law will take place. The Supreme Court will be hearing oral arguments about the constitutionality of Obamacare next week. Out of the 20 new or higher taxes in Obamacare, here are the five that most hurt seniors: Individual Mandate excise tax penalty. Many seniors...
  • Being Breitbart

    03/19/2012 6:35:12 AM PDT · by shove_it · 6 replies
    Adoption Pundit via Instapundit ^ | 18 Mar 2012 | Steve Eimers
    This week I got to ‘be Breitbart.' I want to share a little about the experience of ‘being Andrew Breitbart’ then I want to talk about being a different Breitbart; Gerald and Arlene Breitbart. Some have asked about my recent radio ad that played on WOKI. Well I am going to answer a few of those questions. Why did you as a Window Cleaner in Knoxville, TN run this ad? I wanted new customers. I have nearly 25 estimates to complete. This is more than I typically get in a 3-4 month period in 3 days. I also received more...
  • Vice-President Lauds Obama’s “Spine of Steal”

    03/18/2012 2:40:35 PM PDT · by John Semmens · 17 replies
    Semi-News/Semi-Satire ^ | 17 March 2012 | John Semmens
    In written remarks distributed before a campaign speech to the United Auto Workers Union, Vice-President Joe Biden praised President Obama’s courage for bailing out General Motors and Chrysler. “Where others might have been deterred by property rights or contracts, President Obama charged in, unafraid,” Biden remembered. “He put your jobs, your interests ahead of all else.” Biden urged union members to keep this in mind come election day. “Some may put their trust in the law,” Biden said. “But I say having a guy you can trust at the wheel trumps anything that might be written down in a statute...
  • riple Lutz Report–Turnkey Totalitarianism is Coming to America–Episode 172

    03/18/2012 11:30:44 AM PDT · by appeal2 · 4 replies
    The Financial Survival Network ^ | 03/18/2012 | Kerry Lutz
    Freedom to pursue your own happiness was guaranteed in the US Constitution. It was a novel ground-breaking earth-shattering ideal that has left statists scrambling ever since. The way they take away your freedoms is one at a time. First they go after freedoms that most people deem unnecessary or repugnant, like using drugs or advertising tabacco. Then they go after the freedoms that matter to you, like speech, the right to defend yourself, buying light bulbs or so many others that are currently under attack. Marijuana prohibitions are supported by law enforcement lobbyists who cash in big time. Just follow...
  • While America Toils Canada Enjoys Stable Government

    03/18/2012 11:06:08 AM PDT · by Leigh Patrick Sullivan · 8 replies · 2+ views
    The Moderate Separatist ^ | March 18, 2012 | Leigh Patrick Sullivan
    When Canadians finally granted Stephen Harper and his Conservatives the majority election victory they had long sought following two consecutive minority Tory governments, it was more than just the fulfillment of an arduous journey for the nation’s right-wing. History could show that it was a vital and fortuitous turn of events. Canada experienced years of Jean Chretien/Paul Martin Liberal rule, due in large part to the lack of coherent opposition. Conservatives were busy rebuilding, reforming into a single entity. That, combined with an effective program of personal attacks by the Liberals on both the party leader and the conservative party...
  • Housing: A Tale of Four Countries (U.S., U.K., China and Spain) – Bubbles, Bursts and Flatness

    03/18/2012 11:01:51 AM PDT · by whitedog57
    Confounded Interest ^ | 03/18/2012 | Anthony B. Sanders
    Bloomberg recently reported that China’s February home prices fell in more than half of the 70 cities monitored by the government. You can see China’s bubble, deflation, re-bubble and deflation cycle in the following chart. Thus far, China is the only country of the four that has managed to re-bubble their housing market, but that bubble is leaking again. The U.S. Housing Market This week, there will be several reports on the U.S. housing market. Will we see improvement? Monday, Mar 19th, 10:00 AM: The March NAHB homebuilder survey. The consensus is for a reading of 30, up slightly from...
  • The Malaise of 2012 | Part III - Undue Debt

    03/18/2012 10:18:55 AM PDT · by NaturalBornConservative · 5 replies
    Natural Born Conservative ^ | March 18, 2012 | Larry Walker, Jr.
    * Inordinate Stimulus, Undue Debt and Global Warming Foolishness Caused the Recession* By: Larry Walker, Jr. *It is impossible to calculate the effect of deficit-financed government spending on demand without specifying how people expect the deficit to be paid off in the future. ~ The Theory of Rational Expectations Undue Debt Obama’s three-point plan for deficit reduction can be summed up in three words, “Spend Baby Spend.” In fact, Obama will have borrowed more than $6.3 trillion during his four-year term, which is more than the first 42 and 1/4 presidents combined. And what do we have to show...
  • The Crazy Things That One Whistleblower Says Are Happening At JP Morgan Will Blow Your Mind

    03/18/2012 6:41:52 AM PDT · by SeekAndFind · 7 replies · 1+ views
    The Economic Collapse ^ | 03/17/2012 | Michael Snyder
    Rampant silver manipulation? Rampant gold manipulation? Rampant LIBOR manipulation? Hiding MF Global client assets? These are all happening at JP Morgan according to an open letter reportedly written by an anonymous employee of the firm. The whistleblower also warns of a "cascading credit event being triggered" by derivatives related to Greek government debt. Unlike Greg Smith at Goldman Sachs, this whistleblower has chosen to remain anonymous for now. According to the letter, the whistleblower is still an employee of JP Morgan and has not resigned. But that does make it much more difficult to confirm what he is saying....
  • Report: Vito Rizzuto Plots His Return

    03/18/2012 4:25:49 AM PDT · by AtlasStalled · 3 replies
    Friends of Ours ^ | 03/18/12 | Friends of Ours
    Reputed Montreal Mafia boss Vito Rizzuto will avenge the murders of son Nicola and father Nick upon his release from prison in October 2012 according to a jailhouse source as reported by Brad Hamilton for the New York Post: "he's been eating vegetarian, staying fit, sharpening his mind with games of pinochle — and plotting his coup, the source said." Vito Rizzuto currently is serving time at the supermax facility in Florence, CO on a 2007 racketeering conviction involving the 1981 New York City murders of three Bonanno capos during an internal power struggle, and during his incarceration all hell...