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Business/Economy (News/Activism)

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  • It Was Never About Oil

    02/14/2016 10:59:07 AM PST · by Lorianne · 11 replies
    Alhambr Investments ^ | 09 February 2016 | Jeffrey P. Snider
    The relationship between money supply growth and economy became truly tenuous during the housing mania of the middle 2000’s. The reason was simply that asset bubbles (inflation) are highly inefficient and so produce great imbalances in the liquidity and monetary structures that link money to economy. Banks were making money in money dealing activities based solely on the premise that the entire system could and would continue expanding on that insane baseline as if permanent; and if it were ever interrupted by recession, as 2001, then that would be a trivial and temporary deviation. This was the outlook of not...
  • Why Investors Are Nervous About Deutsche Bank’s Solvency

    02/14/2016 9:42:57 AM PST · by Lorianne · 2 replies
    Market Realist ^ | 12 February 2016 | Rebecca Keats
    German-based Deutsche Bank’s (DB) shares have been on a roller coaster ride since the new CEO (chief executive officer) John Cryan took over. Shares of the company have fallen nearly 30% in 2016 so far, and news that the bank was considering a share buyback has failed to soothe investors who are worried about its ability to make debt repayments. On Monday, February 8, 2016, shares of Deutsche Bank fell to fresh lows as the bank’s efforts to reassure investors about its ability to pay coupons on its AT1 bonds failed. The bank has 350 million euros of AT1 coupon...
  • UK's Big Four Banks To Award £5 [billion] Bonus Pot

    02/14/2016 9:37:39 AM PST · by Lorianne · 1 replies
    Sky News ^ | 13 February 2016 | Mark Kleinman
    Britain's four biggest banks are to award bonus payouts worth almost £5bn in the next few weeks even as the share prices of lenders are being hammered by deepening concerns about economic growth. Sky News can reveal that boardroom pay committees at Barclays, HSBC, Lloyds Banking Group and Royal Bank of Scotland (RBS) are finalising plans to announce the bonus pots alongside their annual results. The overall pot will be lower than the £5.2bn aggregate bonuses for the quartet of banks in 2014, insiders said on Friday. The biggest payer will be HSBC, which sources said would award bonuses of...
  • U.S. Victims of Mexican Drug Gangs Sue HSBC Bank Under Anti-Terrorism Act

    02/14/2016 9:31:39 AM PST · by Lorianne · 8 replies
    Insurance Journal ^ | 10 February 2016 | Greg Farrell
    Families of U.S. citizens murdered by drug gangs in Mexico sued HSBC Holdings Plc, claiming the bank can be held responsible for the deaths because it let cartels launder billions of dollars to operate their businesses. The lawsuit brings fresh scrutiny to the Mexican activities of HSBC, which in 2012 paid $1.9 billion to resolve a criminal investigation into whether it violated U.S. sanctions laws and laundered at least $881 million on behalf of drug cartels. HSBC said it would fight the claims in the lawsuit, filed Tuesday in federal court in Brownsville, Texas. The new case recounts a series...
  • Deutsche Bank: Crystallizing Europe's TBTF Problems

    02/14/2016 9:12:54 AM PST · by Lorianne · 7 replies
    Seeking Alpha ^ | 13 February 2016 | Constantin Gurdgiev
    This week was quite a tumultuous one for banks, and especially Europe's champion of the 'best in class' TBTF institutions, Deutsche Bank (NYSE:DB). Here's what happened in a nutshell. Deutsche's 6 percent perpetual bonds, CoCos (more on this below), with expected maturity in 2022, used to yield around 7 percent back in January. Having announced massive losses for fiscal year 2015 (first time full year losses were posted by the DB since 2008), Deutsche was under pressure in the equity markets. Rather gradual sell-off of shares in the bank from the start of 2015 was slowly, but noticeably eroding bank's...
  • Deutsche Bank CoCo Holders Learn What Regulators Meant by Risk

    02/14/2016 9:00:32 AM PST · by Lorianne · 14 replies
    Swiss Info ^ | 11 February 2016
    When European regulators created a new type of bank debt, the idea was to transfer risk from taxpayers to investors. Now bondholders are learning what that really means. Yield-starved investors bought $102 billion of the contingent convertible bonds, securities created to help troubled banks hang onto cash in times of stress by skipping coupon payments without defaulting and converting the debt to equity or writing it down. Even though neither of those has yet happened, investors are already feeling the pain, as yields on Deutsche Bank AG’s 4.6 billion euros of CoCos have soared and its shares have plummeted. “CoCos...
  • Swedish Bank Move Creates a Global Shudder

    02/14/2016 8:55:16 AM PST · by Lorianne
    New York Times ^ | 11 February 2016 | Landon Thomas Jr
    What if the bazooka is shooting blanks? Since the financial crisis, it has been gospel for many investors that some combination of actions by central banks — bond buying, bold promises or flirtations with negative interest rates — would be enough to keep the global economy out of recession. But investors’ distress over the latest volley by a major central bank, the surprise decision on Thursday by the Swedish central bank to lower its short-term rate to minus 0.50 percent from minus 0.35 percent, has heightened fears that brazen actions by central bankers are now making things worse, not better....
  • This is How Financial Chaos Begins

    02/14/2016 8:13:53 AM PST · by Lorianne · 15 replies
    Wolf Street ^ | 12 February 2016 | Wolf Richter
    It’s not contained. There are over $1.8 trillion of US junk bonds outstanding. It’s the lifeblood of over-indebted corporate America. When yields began to soar over a year ago, and liquidity began to dry up at the bottom of the scale, it was “contained.” Yet contagion has spread from energy, metals, and mining to other industries and up the scale. According to UBS, about $1 trillion of these junk bonds are now “stressed” or “distressed.” And the entire corporate bond market, which is far larger than the stock market, is getting antsy. The average yield of CCC or lower-rated junk...
  • 'Look out, we are heading for a crash again', warns William White, the central banker (tr)

    02/14/2016 8:05:54 AM PST · by TigerClaws · 10 replies
    The world is facing a new crisis caused by an explosion in debt. So warns William White, the central banker who famously predicted the crisis of 2008. As financial markets reeled last week and fears of a fresh recession or even banking crisis sparked panic, White was more than willing to issue yet another prophecy of doom. The world is now facing a crunch that could see a collapse in property prices, including those in London; a new global banking crisis; waves of cheap commodities savaging Western industrial centres; and the need for debts to be written off on a...
  • Pension Funds See 20% Spike In Deficit

    02/14/2016 8:04:37 AM PST · by Lorianne · 11 replies
    Argus Obsever ^ | 14 February 2016 | Ted Sickinger
    Oregon Treasurer and Portland mayoral candidate Ted Wheeler issued a statement last week noting that the state pension fund’s investment returns were 2.1% in 2015. That beat the Standard & Poor’s 500 index and topped the performance of 88% of comparable institutional investment funds. What Wheeler’s statement didn’t mention was that investment returns for the year still fell 5.6 percentage points below the system’s 7.75% assumed rate of return for 2015. That’s terrible news for public employers and taxpayers. It means the pension system’s unfunded liability just increased by another 20% — growing from $18 billion at the end of...
  • Former Dallas Fed president calls out central banks

    02/14/2016 7:50:55 AM PST · by Lorianne · 1 replies
    CNBC ^ | 13 February 2016 | Brian Price
    Are central banks' aggressive monetary policies to blame for the today's economic woes? Former Dallas Federal Reserve President Robert McTeer says yes. Speaking to CNBC's "Fast Money" this week, McTeer explained that while the Fedis comprised of smart and carefully minded individuals, they dropped the ball when it comes to their current approach. "[The Fed] waited too long to begin the tightening process," noted the former FOMC member and 36-year veteran of the Federal Reserve system. The central banker's critique echoed that of other economists, whom have argued that the trillions of cheap dollars flooding the system have exacerbated the...
  • Multiple crises challenge European Union ahead of summit

    02/14/2016 7:48:01 AM PST · by Olog-hai
    Associated Press ^ | Feb 14, 2016 7:31 AM EST | Gregory Katz
    ... If the European Union were a patient, its survival would be seen as threatened by multiple organ failure. That's the view of many experts as EU chiefs prepare for a Brussels summit that starts Thursday. Analysts believe the combined strain of these challenges may be unbearable for a political union and trading bloc that just 20 years ago seemed to be growing in stature as it proudly offered freedom and democracy - along with lucrative subsidies, military alliances and billions in foreign investment - to newly freed former Soviet satellites. Ian Kearns, director of the European Leadership Network research...
  • Iran exports first oil shipment to Europe since nuclear deal

    02/14/2016 7:40:42 AM PST · by Olog-hai · 5 replies
    Associated Press ^ | Feb 14, 2016 10:05 AM EST
    Iran says it has exported its first crude oil shipment to Europe since it reached a landmark nuclear deal with world powers, the official IRNA news agency reported Sunday. IRNA quoted Deputy Oil Minister Rokneddin Javadi as saying the shipment was the first in five years and marked "a new chapter" in Iran's oil industry. [...] Javadi said Iran has already reached agreement to export oil to France, Russia and Spain. ...
  • Shadow-Stats: Obama's real unemployment rate almost 25%!

    02/13/2016 3:24:01 PM PST · by Javeth · 6 replies
    Shadow-Stats ^ | February 5th, 2016 | Jon Williams
    The seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers. The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.
  • CHP OFFICER IN PRESIDENT OBAMA'S MOTORCADE CRASHES ON 405 FREEWAY IN WEST LA

    02/13/2016 1:09:47 PM PST · by Extremely Extreme Extremist · 18 replies
    ABC 7 NEWS ^ | 13 FEBRUARY 2016 | JOHN GREGORY
    LOS ANGELES -- A California Highway Patrol officer in President Barack Obama's motorcade was injured in a crash while escorting the president through West Los Angeles on Friday. The motorcycle officer went down around 10 a.m. on the southbound 405 Freeway at Olympic Boulevard. The officer was taken to a local hospital, but was said to be OK. Further details regarding the crash were not released. An Eyewitness News viewer captured part of the crash on cellphone video.
  • Trump weighs in on Carrier relocation to Mexico

    02/13/2016 1:21:48 PM PST · by Extremely Extreme Extremist · 279 replies
    RTV6.COM ^ | 13 FEBRUARY 2016 | RTV6.COM
    INDIANAPOLIS -- Donald Trump is weighing in on the news that Carrier is moving from Indianapolis to Mexico. 1,400 workers at the heating, cooling, air conditioning, and refrigeration company got word Wednesday that the plant was being relocated to Monterrey.
  • Trump’s Ceiling of Support May Be Limited

    02/13/2016 12:50:30 PM PST · by TBBT · 244 replies
    The New York Times ^ | 2/11/16 | Sean Trende
    Few professional analysts seriously expected six months ago that Donald Trump could win the Republican nomination. But after Tuesday night, it is a clear possibility. How much of a possibility? To get that answer right, it is important to understand some things about the Trump phenomenon. Perhaps most important, Trump's campaign is not a Tea Party phenomenon. While there's been a tendency to try to lump Trump in with various G.O.P. insurgencies of the last few years, that role is best filled by Sen. Ted Cruz, who really occupies the "Tea Party lane" of the G.O.P. primary more cleanly. Instead,...
  • Would you bet against sex robots? AI 'could leave half of world unemployed'

    02/13/2016 11:24:26 AM PST · by C19fan · 54 replies
    UK Guardian ^ | February 13, 2016 | Alan Yuhas
    Machines could put more than half the world’s population out of a job in the next 30 years, according to a computer scientist who said on Saturday that artificial intelligence’s threat to the economy should not be understated. Expert Moshe Vardi told the American Association for the Advancement of Science (AAAS): “We are approaching a time when machines will be able to outperform humans at almost any task.
  • China Could Have a Meltdown-Proof Nuclear Reactor Next Year (pebble bed)

    02/13/2016 8:53:18 AM PST · by Titus-Maximus · 24 replies
    MIT TECHNOLOGY REVIEW ^ | Feb 12, 2016 | Richard Martin
    In what would be a milestone for advanced nuclear power, China's Nuclear Engineering Construction Corporation plans to start up a high-temperature, gas-cooled pebble-bed nuclear plant next year in Shandong province, south of Beijing. The twin 105-megawatt reactors--so-called Generation IV reactors that would be immune to meltdown--would be the first of their type built at commercial scale in the world. Construction of the plant is nearly complete, and the next 18 months will be spent installing the reactor components, running tests, and loading the fuel before the reactors go critical in November 2017, said Zhang Zuoyi, director of the Institute of...
  • Will crash of 2016 be worse than 2008? Interview with Charles Ortel

    02/13/2016 7:15:33 AM PST · by Randall_S · 19 replies
    USA Transnational Report ^ | February 13, 2016 | USA Transnational Report
    Will the crash of 2016 be worse than 2008? Central banks have failed to solve the crisis, and instead have taken on more debt than any time in history. At the same time, western institutions are welcoming in Islamic money. Does this mean Sharia-compliant finance? Listen here: http://usatransnationalreport.org/2016/02/13/usa-transnational-report-february-13-2016-guest-charles-ortel/ While European banks, such as Deutsche Bank, falter, what does this mean for the U.S. economy? And what does the future look like? Charles Ortel is an investor and writer interested in economics, geo-politics, history, travel and just, lasting peace. He has done extensive research on the fraudulent activities of the Clinton...
  • New York Fed Finds Large Increase in Debts Held by Those Over Age 50

    02/13/2016 6:25:13 AM PST · by Lorianne · 54 replies
    Nasdaq ^ | 12 February 2016 | Josh Zumbrun
    Americans in their 50s, 60s and 70s are carrying unprecedented amounts of debt, a shift that reflects both the aging of the baby boomer generation and their greater likelihood of retaining mortgage, auto and student debt at much later ages than previous generations. The average 65-year-old borrower has 47% more mortgage debt and 29% more auto debt than 65-year-olds had in 2003, according to data from the Federal Reserve Bank of New York released Friday. The result: U.S. household debt is vastly different than it was before the financial crisis, when many younger households had taken on large debts they...
  • Big banks are fleeing the mortgage market

    02/13/2016 6:17:35 AM PST · by Lorianne · 19 replies
    Market Watch ^ | 12 February 2016 | Andrea Riquier
    When it comes to residential mortgages, big banks are waving the white flag. Banks originated 74% of all mortgages in 2007, but their share fell to 52% in 2014, the most recent data available from the Mortgage Bankers Association. And it could go even lower. But even at these levels, the big bank backtrack is reshaping a lending landscape that’s already undergone seismic shifts since the housing bubble burst. While there’s widespread agreement that banks should have been reined in — and perhaps punished — after playing a major role in the housing bubble that helped tank the economy, the...
  • Coulter's W&L mock convention speech

    02/13/2016 2:41:11 AM PST · by tgdunbar · 32 replies
    Facebook ^ | 02/12/2016 | Ann Coulter
    As Miss Coulter explains in her Washington and Lee University Mock Convention speech: Immigration, Immigration, Immigration
  • Carrier Air Conditioner (part of United Technologies) Moving 1,400 Jobs to Mexico

    02/12/2016 10:05:29 PM PST · by Enlightened1 · 109 replies
    Youtube ^ | 02/11/16 | Joe Brunner
    Carrier Air Conditioner is moving production to Monterrey, Mexico putting 1,400 Indianapolis Jobs south of the border in 2017.
  • Joe Scarborough-Donald Trump friendship increasing source of discomfort at NBC

    02/12/2016 9:57:35 PM PST · by TigerClaws · 10 replies
    Last November, MSNBC's Joe Scarborough sat on stage at the 92nd Street Y in New York and recounted the various times he had given Donald Trump political advice. "I've actually called him up and said, 'Donald, listen, you need to speak in complete sentences at debates," Scarborough said. "After the second debate ... I walked into his office, I said, 'Donald, do you know how to read? ... I said, 'You should read before a debate! ... Read a paragraph on Syria, read a paragraph on education reform!'"
  • Cruz: Trump May Owe ‘Billions’ in Loans to Big Banks (Feb 1 article)

    02/12/2016 8:27:07 PM PST · by TBP · 173 replies
    PJ Media ^ | FEBRUARY 1, 2016 | MICHAEL VAN DER GALIEN
    When Donald Trump heard that Ted Cruz had taken out a loan from Goldman Sachs (against his own investments, by the way), he lashed out at his rival. The loan proved that Cruz was owned by the banks! He could not be trusted! He'd just do Goldman's bidding! Oh my, how terrible! Yes, Cruz was clearly a crony of the big banks. This criticism caused the Cruz campaign to study Trump's own finances a bit. What they've discovered is downright shocking: Republican presidential hopeful Ted Cruz on Sunday said GOP front-runner Donald Trump owes “hundreds of millions or even billions”...
  • Congress Makes Internet Access Tax Ban Permanent

    02/12/2016 7:16:21 PM PST · by Swordmaker · 30 replies
    Forbes ^ | February 11, 2016 | By Kelly Phillips Erb
    Today, the Senate voted to keep internet access tax free -- permanently. If that feels like a small achievement, it's not. Taxing internet access has been barred by law since 1998. However, over the last 20 years, the prohibition wasn't a permanent law: it was a moratorium. To keep the moratorium in place, Congress had to extend it. And extend it again. So they did so in 2001, 2004, 2007 and 2014 and a series of band-aids through 2015 -- eight times in total.
  • Bernie's Youth Brigade and China's Cultural Revolution

    02/12/2016 6:53:52 PM PST · by poconopundit · 31 replies
    Unknown Chinese Writer ^ | 2/12/2016 | PoconoPundit
    Youth has always been idealistic: a utopian and egalitarian society is very alluring to them. Trouble is, no matter how much we may dream about unicorns, we can never make them come to life. And the only way to deliver a utopian society is via a state-controlled tyranny that destroys personal liberty. Unfortunately, many young people fail to understand these facts. What's more, the professors in America's liberal arts colleges and universities have for decades fostered a climate that ridicules free-market principles and favors of socialist and wealth distribution doctrines. Bernie Sanders is tapping into this socialist stupidity and...
  • Are Germans right to fear limit on cash payments?

    02/12/2016 3:48:56 PM PST · by Olog-hai · 18 replies
    TheLocal.de ^ | 12 Feb 2016 09:43 GMT+01:00 | Jörg Luyken
    When it was announced late last week that the German government planned to set a 5,000 limit on payments with cash, it barely raised an eyebrow in our newsroom. Limits on cash transactions are standard in other large European countries, including Italy, France and the UK, and this seemed to be a case of conservative Germany slowly falling in line with its neighbors. We should have known better. The outcry came from all quarters, with the populist right-wing Alternative for Germany (AfD) just as vocal as the right-on left-wing Green Party and the liberal Free Democratic Party (FDP). Economic weekly...
  • Germany ‘must act now to defuse debt time bomb’

    02/12/2016 2:25:24 PM PST · by Olog-hai · 8 replies
    TheLocal.de ^ | 12 Feb 2016 15:36 GMT+01:00
    An internal government report seen by Die Welt am Sonntag predicts that Germany will have to take on uncontrollable debt if it doesn't start making huge budget cuts now. It's the same old problem: not only Germans are living longer than ever before, they're not producing enough offspring to replace them in the workforce. The result will be levels of debt reaching 220 percent of Gross Domestic Product (GDP) by 2060 - well above the 60 percent limit for EU member states set out by the Maastricht Treaty in 1992 - experts from inside Wolfgang Schaeuble's finance ministry have calculated....
  • With West Virginia, A Majority Of The States Are Now Right-To-Work

    02/12/2016 2:18:59 PM PST · by reaganaut1 · 10 replies
    Forbes ^ | February 12, 2016 | George Leef
    On February 12, the West Virginia legislature voted to override Governor Earl Ray Tomblin’s veto of the right-to-work bill it had passed on February 4. The measure will take effect in May and the state will then be the 26th state to have such a law. Exactly what do “right-to-work” laws do? They provide that workers cannot be fired because they decline to pay union dues. Public opinion polls consistently show that a solid majority of Americans agree that no one should lose his or her job for deciding not to pay what the union demands. Public opinion isn’t always...
  • UN “Climate” Deal in Jeopardy After Court Blocks Obama Decrees

    02/12/2016 2:17:47 PM PST · by HomerBohn · 11 replies
    The New American ^ | 2/12/2016 | Alex Newman
    The United Nations "climate" regime negotiated in Paris last year could be dead in the water before the pseudo-treaty underpinning it is even formally signed in April at UN headquarters. That is because the U.S. Supreme Court this week, in a potentially devastating setback to the UN and Obama, temporarily blocked the centerpiece of the White House's global-warming agenda, the so-called Clean Power Plan. The administration scheme, which sought to regulate emissions of the "gas of life," was imposed by executive decree, leading countless experts to point out that Obama's agenda was on thin ice at best. Now, with the...
  • US, Cuba to sign agreement on restarting commercial flights

    02/12/2016 1:30:50 PM PST · by Olog-hai · 11 replies
    Associated Press ^ | Feb. 12, 2016 4:24 PM EST | Michael Weissenstein
    U.S. officials say the United States and Cuba will sign an agreement next week to restart commercial air traffic for the first time in five decades. U.S. Transportation Secretary Anthony Foxx flies to Havana on Tuesday to cement the deal. It will let U.S. airlines bid on routes for dozens of U.S.-Cuba flights per day. That's more than five times the current number of flights, all of which are charters. ...
  • The Ignored Campaign Issue: the Deficit

    02/12/2016 1:13:01 PM PST · by MarvinStinson · 17 replies
    americanthinker. ^ | February 11, 2016 | Jon N. Hall
    The largest financial operation in the known universe is the United States federal government. For fiscal 2009, that operation ran a budget deficit of -$1.412T, the all-time record. That’s more than -$3.868B a day, more than -$161M an hour, some -$2.686M a minute. That’s debt at -$44,774 … a second. Amazing, no? Surely others have also done that math. The only figure I got from the government is the -$1.412T deficit for 2009, which I got from Table 1.1 at the White House website. The other numbers I derived by already possessing knowledge of how many days there were in...
  • Just a fraction of the world's oil supply isn't profitable at $35 a barrel

    02/12/2016 12:52:48 PM PST · by Zhang Fei · 18 replies
    Business Insider ^ | 2/12/2016 | Bob Bryan
    Wood Mackenzie's report, cited by the energy news service Platts, said about 3.4 million barrels' worth of oil a day was not profitable below $35 a barrel. According to the International Energy Agency, the world's supply is 97.07 million barrels a day. While today's oil prices are below this threshold, the report suggests the price at which US shale and other producers would be forced out of the market is lower than previously thought. As Platts writes, "For many producers, being cash negative is not enough of an incentive to shut down fields as restarting flow can be costly and...
  • ‘Welcome Back Carter’ ( Destroying good paying jobs and )

    02/12/2016 12:06:40 PM PST · by george76 · 4 replies
    Washington Times ^ | January 31, 2016 | William Perry Pendley
    Obama on federal coal mining is a throwback to Carter administration failings. resident Obama's plot to use the National Environmental Policy Act (NEPA) to kill federal coal mining with a thousand paper cuts is not the first time he has used NEPA to try to end energy development. Disturbingly, his scheme is a throwback to President Carter and a decade-long moratorium that ended only when President Reagan took office. Meanwhile millions of Americans, vast regions and the nation's economy will suffer. In 2009, the Obama administration settled a "sweetheart lawsuit" by environmental groups by agreeing to a NEPA study on...
  • Reagan Era Energy Lessee Files Brief: No Right to Cancel Its Lease ( BLM : Montana )

    02/12/2016 11:42:32 AM PST · by george76 · 7 replies
    Fairfield Sun Times ^ | February 2, 2016
    A Louisiana man issued a federal oil and gas lease in 1982, but denied the right to explore his property since approval of his application for permit to drill (APD) in 1985, recently responded formally to a brief filed by the United States government in which it argued that it has authority to cancel his lease and will cancel his lease as soon as its proposed schedule for doing so is approved by the federal court. Mountain States Legal Foundation (MSLF) represents Sidney Longwell of Baton Rouge, whose company Solenex, LLC owns the Reagan-era lease, and which sued Secretary of...
  • Lawmakers vote to make W. Virginia right-to-work state

    02/12/2016 11:18:46 AM PST · by Olog-hai · 5 replies
    Associated Press ^ | Feb. 12, 2016 1:49 PM EST | Jonathan Mattise
    West Virginia is set to become the 26th state with a so-called right-to-work law. State lawmakers rebuked Thursday's veto by Democratic Gov. Earl Ray Tomblin, voting along party lines in their House and Senate. Some House Republicans voted "no," though only a simple majority was required. ...
  • Top Republicans stay quiet on release of their tax returns

    02/12/2016 11:01:30 AM PST · by Olog-hai · 11 replies
    Associated Press ^ | Feb. 12, 2016 1:42 PM EST | Jeff Horwitz and Will Weissert
    Mitt Romney, the 2012 Republican presidential candidate, offered this year's hopefuls advice about a hard-learned lesson: Release your tax returns before the primaries and avoid tough scrutiny later. But the top three Republicans leading in national polls don't appear to be listening. Even as other candidates -- most notably Hillary Clinton and Jeb Bush -- have already disclosed years' worth of private tax returns to dispel questions about their personal finances, Donald Trump, Ted Cruz and Marco Rubio have failed to do the same despite promises to do so, sometimes after events that have now come and gone. None of...
  • Fact-checking claims about Donald Trump's four bankruptcies

    02/12/2016 9:07:05 AM PST · by AndyJackson · 137 replies
    Politifact ^ | September 21st, 2015 | Lauren Carroll, Clayton Youngman
    In an effort to take out frontrunner Donald Trump, Republican presidential candidates have pelted Trump with criticism over his multiple trips to federal bankruptcy court. That criticism was on full display in CNN's Republican debate Sept. 16. Most notably, former Hewlett-Packard CEO Carly Fiorina criticized Trump's history of bankruptcies in his businesses. "You know, there are a lot of us Americans who believe that we are going to have trouble someday paying back the interest on our debt because politicians have run up mountains of debt using other people's money," Fiorina said. "That is in fact precisely the way you...
  • America's Energy Outlook Is Bright – and Obama Hates It

    02/12/2016 8:37:00 AM PST · by rktman · 18 replies
    americanthiker.com ^ | 2/12/2016 | Jeffrey Folks
    In its annual outlook for energy report, ExxonMobil presents data that contradicts Obama's green energy utopianism. Who has the better track record of predicting the global energy future: Obama or a private company that actually produces the stuff?
  • 113-foot blade falls off New York windmill, lands in field

    02/12/2016 8:26:17 AM PST · by Olog-hai · 63 replies
    Associated Press ^ | Feb 12, 2016 8:06 AM EST
    An energy company says it's trying to determine why a 113-foot-long blade fell off a windmill in central New York. [...] Town official say they believe a bolt may have failed on the 187-ton windmill, one of 20 located at the Fenner Wind Farm, which was built in 2001 on a hill 15 miles east of Syracuse. ...
  • Obama shrugs off court's halt to climate-change agenda (SHOCKED?)

    02/12/2016 8:21:07 AM PST · by rktman · 21 replies
    wnd.com ^ | 2/12/2016 | Cheryl Chumley
    Vows regulations will proceed: 'So don't despair, people'
  • America's Energy Outlook Is Bright -- and Obama Hates

    02/12/2016 6:29:37 AM PST · by SeekAndFind · 5 replies
    American Thinker ^ | 02/12/2016 | Jeffrey Folks
    In its annual outlook for energy report, ExxonMobil presents data that contradicts Obama's green energy utopianism. Who has the better track record of predicting the global energy future: Obama or a private company that actually produces the stuff? In its just published report, "The Outlook for Energy: A View to 2040," Exxon makes three key points. First, by 2040, global energy demand is predicted to rise by 25%. That demand must be met if living standards are to improve, and there are only three feasible ways of meeting it: fossil fuels, nuclear energy, and alternatives. The choice of energy...
  • OVERWHELMING PERCENTAGE OF SCIENCE TEACHERS CONFUSED ABOUT CLIMATE CHANGE

    02/12/2016 6:03:31 AM PST · by dead · 40 replies
    Newsweek ^ | 2/11/16 | Christina Procopiou
    You may want to talk with your child about climate change. His or her teacher may be among the 1 in 3 American middle school and high school teachers bringing climate change denial into the classroom. Fewer than half of U.S. adults--the lowest percentage among 20 nations polled in 2014--agree with the 95 percent of climate scientists who attribute recent global warming to human causes. The first nationwide survey of climate change education set out to see if there was hope for today's students, who will grow up in a world shaped by climate change. Policy directors from the National...
  • [Democrat Louisiana Governor] says budget crisis threatens all of Louisiana -- even LSU football

    02/12/2016 6:02:27 AM PST · by rrstar96 · 22 replies
    Nola.com ^ | February 11, 2016 | Julia O'Donoghue
    Gov. John Bel Edwards laid out an absolute worst case scenario Thursday night (Feb. 11) for Louisiana if state lawmakers refuse to go along with the package of tax increases he has proposed. In a rare statewide televised address, Edwards told viewers that the state would be forced to take extreme action -- such as throwing people with off of kidney dialysis and shutting down hospice services -- if new taxes didn't go into place over the next few months. "The health care services that are in jeopardy literally mean the difference between life and death," Edwards said during a...
  • Lawsuit contends the California bullet train project is violating state law

    02/12/2016 4:49:02 AM PST · by Oldeconomybuyer · 7 replies
    Los Angeles Times ^ | February 12, 2016 | By Ralph Vartabedian
    The California bullet train project violates state law because it is not financially viable, will operate slower than promised and has compromised its design by using existing shared tracks in the Bay Area, attorneys for Kings County and two Central Valley farmers argued Thursday in Sacramento County Superior Court. The lawsuit asserts that the state's plans for the Los Angeles to San Francisco high-speed rail link violate restrictions placed on the project under the $9-billion bond act that voters approved in 2008.
  • Parched Earth soaks up water, slowing sea level rise: study [what we didn't realize....]

    02/12/2016 4:43:07 AM PST · by Cincinatus' Wife · 38 replies
    Yahoo ^ | February 12, 2016 | AFP
    Miami (AFP) - As glaciers melt due to climate change, the increasingly hot and parched Earth is absorbing some of that water inland, slowing sea level rise, NASA experts said Thursday. Satellite measurements over the past decade show for the first time that the Earth's continents have soaked up and stored an extra 3.2 trillion tons of water in soils, lakes and underground aquifers, the experts said in a study in the journal Science. This has temporarily slowed the rate of sea level rise by about 20 percent, it said. "We always assumed that people's increased reliance on groundwater for...
  • Tempers flare at IRS hearing

    02/12/2016 4:25:58 AM PST · by HomerBohn · 18 replies
    The Hill ^ | 2/11/2016 | Naomi Jagoda
    A heated argument erupted Thursday at a hearing on the IRS, with Democrats and Republicans trading charges about the work of the Oversight Committee. Two Democrats on the panel accused their GOP colleagues of repeatedly holding hearings on the IRS for political reasons. In his opening statement, Oversight Committee ranking member Rep. Elijah Cummings (D-Md.) complained that the hearing was the 23rd held about the IRS in recent years. "Unfortunately, Republicans have become obsessed with investigating any and every allegation relating to the IRS, no matter how small," he said. He said Republicans are frustrated that they have never found...
  • ‘Blames World’ "...the Fed is the author of its own failures..."

    02/12/2016 4:24:59 AM PST · by expat_panama · 12 replies
    New York Sun ^ | February 11, 2016 | Editorial of The New York Sun
    If Ben Bernanke's epitaph is going to be "We could raise interest in 11 minutes if we have to," what will be written on his successor's tombstone? How about "Blames World." That is the headline up today on the Drudge Report. It links to a dispatch of the Agence France Press on Janet Yellen's growing concerns over a worsening financial situation less than two months after she raised interest rates as a sign of confidence in the improving economy. What an opportunity for Senator Ted Cruz... The story, pegged to Mrs. Yellen's semi-annual testimony yesterday to the House Financial Services...