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Business/Economy (News/Activism)

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  • The 6 Most Popular Stocks Owned By Congress

    08/18/2012 3:39:34 AM PDT · by Kaslin · 25 replies ^ | August 18, 2012 | Paul Tracy
    The truth will make you sick. Congress is rich -- unbelievably rich. According to the Center for Responsive Politics, 249 of the 535 congressmen are millionaires. That's 47%. By comparison, about 5% of U.S. households are worth more than $1 million.And until recently, insider trading laws didn't apply to congress. They could buy or sell investments based on non-public information they learned from their privileged positions.As you would expect, that's led to some great returns for Congress' investments. In a study cited by Barron's, members of the U.S. House of Representatives beat investors like you and me by 55 basis...
  • Real energy for a new American renaissance

    08/18/2012 3:31:38 AM PDT · by Kaslin · 1 replies ^ | August 18, 2012 | Paul Driessen
    America needs more economic growth, domestic manufacturing, jobs – and secure, affordable energy to make those things happen. Presidential candidate Mitt Romney understands that achieving this goal requires unleashing American ingenuity, reducing excessive regulatory strangleholds on businesses and working capital, and allowing safe, proven technologies to tap and utilize our vast onshore and offshore deposits of oil, natural gas and other energy riches. He knows we can do all this without sacrificing important environmental values. President Obama fervently believes the solution is to unleash more taxes, regulators and regulations, keep our subsurface resources off limits, and compel a painful transition...
  • The Left's Get-Rich-Quick Scheme: Tax the Middle Class

    08/18/2012 3:16:44 AM PDT · by Kaslin · 5 replies ^ | August 18, 2012 | Daniel J. Mitchell
    Every so often, you read something so ridiculously stupid and absurd that you assume that you’re being pranked. So you look to the date of the article to see if it says April 1. Or you look at the Internet address to see if it’s a parody of a real website. So when I read a column suggesting that the United States should become more like Italy, I thought this must be some sort of practical joke. After all, Italy is teetering on the edge of bankruptcy, kept afloat by bailouts and subsidies. Its economy is in the toilet, with...
  • The Ryan Budget

    08/18/2012 2:24:57 AM PDT · by Kaslin · 12 replies ^ | August 18, 2012 | John C. Goodman
    The political left is doing the St. Vitus dance over Paul Ryan's budget. This is the proposal Ryan put forth as Chairman of the House Republican Budget Committee to deal with the nation's fiscal crisis. Democrats are labeling it as "radical," and "extremist," especially Ryan's plans to reform Medicare. The president has called the Ryan budget "social Darwinism." Democratic National Committee Chairwoman, Debbie Wasserman Schultz, said it "would end Medicare as we know it." Not to be outdone, Republicans have launched some rhetorical hand grenades of their own. Mitt Romney told CBS News' Bob Schieffer that "there's only one president...
  • Washington and Wall Street are Broken; Here's Proof

    08/18/2012 2:10:29 AM PDT · by Kaslin · 3 replies ^ | August 18, 2012 | John Ransom
    Ask any entrepreneur you know and they’ll tell you that raising money is the hardest thing they have ever done. Sure there is a ton of money out in the world. That’s why prices for dot coms went way up. And despite the subsequent bust, it didn’t stop money from moving into real estate. And when real estate busted, it hasn’t stopped money from moving into metals, oil and other commodities with astonishing rapidity. Despite a sluggish economy in the U.S. in the last decade, world GDP had roughly doubled in that time from $32 trillion in 2000 to $63...
  • 'Drag queen' Barbie pushes the envelope

    08/17/2012 9:13:19 PM PDT · by Olog-hai · 35 replies
    Mattel is now selling a Barbie doll that some are calling the "drag queen" Barbie. The Blonds Blond Diamond Barbie Doll is not officially a cross-dresser, but was created by designer Phillipe Blond, who is a cross-dresser himself reports the Daily Mail. …
  • Obama’s Medicare cuts, explained (The Ryan Medicare Plan vs Obamacare)

    08/17/2012 8:12:33 PM PDT · by SeekAndFind · 3 replies
    Washington Examiner ^ | 08/16/2012 | Philip Klein
    President Obama and his campaign have offered a series of defenses of the roughly $700 billion in Medicare cuts that he enacted as part of his national health care law. Briefly, they are: the cuts only deal with overpayments to private insurers and providers; the cuts do not affect benefits; the cuts extend the solvency of Medicare; and Mitt Romney’s new running mate, Rep. Paul Ryan, R-Wis., included the cuts in his own budget. Let’s take a moment to unpack each of these. At the outset, let me say that I don’t oppose cutting Medicare, because I believe we’re going...
  • Maryland gambling expansion passes General Assembly

    08/17/2012 7:47:26 PM PDT · by Tolerance Sucks Rocks · 7 replies
    The Washington Times ^ | August 14, 2012 | David Hill
    ANNAPOLIS — The General Assembly passed legislation Tuesday night to expand gambling in the state, setting up a November referendum that will determine the proposal’s ultimate fate. After six hours of passionate debate, the House voted 71-58 in favor of the bill, which would allow table games at the state’s slots casinos and at a sixth gambling facility to be built in Prince George’s County if voted into law. The Senate approved the House amendments to the bill shortly after midnight, finalizing the legislation and wrapping up a four-day special session. Gov. Martin O'Malley, a Democrat, is expected to sign...
  • Gun Turn In Event(OR)

    08/17/2012 7:22:17 PM PDT · by marktwain · 18 replies ^ | 17 August, 2012 | NA
    August 17, 2012, 2:05 pm Ceasefire Oregon is holding a gun turn in event tomorrow, the 18th. It's from 10 to 2 at Memorial Coliseum. The goal of the event is get unwanted, unused, or broken guns off the streets. Ceasefire has collected more than 7,500 guns since 1994. For each gun turned in, a person will get a $75 Fred Meyer gift certificate. There is a limit of three certificates but there are no questions asked. What do you think about gun turn in events? Some say they get guns off the streets but others say they're a waste...
  • Zoo Interchange lawsuit well-intended, misguided (interchange rebuild is raaaaacist!)

    08/17/2012 7:20:33 PM PDT · by Tolerance Sucks Rocks · 2 replies
    Milwaukee Journal-Sentinel ^ | August 14, 2012 | Milwaukee Journal-Sentinel
    Yes, transit in the Milwaukee region should be improved to give citizens, especially the many inner city residents without driver's licenses, better transportation options. And, yes, the state should ramp up transit aid and road maintenance even at the expense of new highway projects. But none of that means that reconstruction of the Zoo Interchange in Milwaukee County should be delayed and that planning for the interchange rebuild should go back to square one, as a lawsuit filed last week seeks to do. The interchange, the busiest in Wisconsin, is vital to commerce and the state's economy. It needs the...
  • Hoarding Continues: China Imported More Gold In 6 Months Than Portugal's Entire Reserve

    08/17/2012 7:20:26 PM PDT · by Olog-hai · 9 replies
    Zero Hedge ^ | 08/15/2012 15:20 -0400 | Tyler Durden
    While the highly "sophisticated" traders that make up the gold market continue to buy or sell the precious metal based on whether the Fed will or will not do the NEW QE tomorrow …, China continues to do one thing. Buy. … … Beijing continues to buy non-US gold, in the form of 68 tons in imports from Hong Kong in the month of June. The year to date total (6 months)? 383 tons. … Realistically, by now China, which hasn't provided an honest gold reserve holdings update to the IMF in years, most certainly has more gold than the...
  • More California cities at risk of bankruptcy, Moody's says

    08/17/2012 5:05:51 PM PDT · by Oldeconomybuyer · 4 replies
    Los Angeles Times ^ | August 17, 2012
    One of the nation's top credit rating agencies said Friday that it would begin a wide-ranging review of municipal finances in California because of what it sees is a growing threat of increased city bankruptcies and bond defaults. The report also noted the potential for ratings downgrades to fiscally distressed cities, counties, school districts and special districts throughout the state. Moody's Investors Service issued a report saying that the growing fiscal distress in many cities in the nation's most populous state was putting bondholders at risk.
  • GAO: EPA rules to cause energy price increases in Midwest, ‘compromise’ electric grid

    08/17/2012 4:59:57 PM PDT · by Nachum · 19 replies
    Washington Examiner ^ | 8/16/12 | Joel Gehrke
    Four coal industry regulations from the Environmental Protection Agency (EPA) will likely cause electricity prices to rise and may “compromise” electric grid reliability — especially in the Midwest and South — according to the Government Accountability Office. “Several representatives from power companies and officials from federal and state regulatory agencies have expressed concerns that as companies incur additional costs in responding to these additional regulations, and as the electricity supply is affected by generating unit requirements, electricity prices could increase and reliability — the ability to meet consumers’ electricity demands — could be compromised,” the GAO
  • Presented With Letters, Ryan Admits Requesting Stimulus Cash

    08/17/2012 4:06:54 PM PDT · by Mozilla · 26 replies
    Yahoo ^ | 8/18/12 | Gregory J. Krieg
    After repeated denials, Paul Ryan has admitted he requested stimulus cash even after sharply criticizing the program. As recently as Wednesday in Ohio, Mitt Romney's running mate told ABC's Cincinnati affiliate, WCPO, he did not. "I never asked for stimulus," Ryan said. "I don't recall… so I really can't comment on it. I opposed the stimulus because it doesn't work, it didn't work." Two years ago, during an interview on WBZ's NewsRadio he was asked by a caller if he "accepted any money" into his district. Ryan said he did not. "I'm not one [of those] people who votes for...
  • Cher: May God Take My Voice if I Stop Promoting Abortion

    08/17/2012 4:01:05 PM PDT · by NYer · 77 replies
    Life News ^ | August 17, 2012 | Jill Stanek
    Cher went on another Twitter rant this week, this time promoting abortion, contraception, and Planned Parenthood in her uniquely histrionic and foul-mouthed way.Tweets are sometimes hard to decipher, as writers try to fit as much into the 140 character limit as possible.But Cher’s tweets read more like hyper 13yo school girl meets illiteracy. Highlights (after removing unintended html language):“Contraception is Illegal!”“F*** THESE OLD WHITE MEN who couldnt laid WITH A FIST FULL OF HUNDREDS!”“Guarantee if these old geezers gave birth there’d b contraception Machines every 50 ft! They’d be Cry “I was Raped ! U can’t expect me 2 have...
  • Central banks double last year's gold buys

    08/17/2012 3:52:51 PM PDT · by DeaconBenjamin · 1 replies ^ | August 17, 2012 | Michael Allan McCrae
    Central banks demand for gold in the second quarter reached 157.2 tonnes, a record high and more than double last year's Q2, according to the World Gold Council, which released its gold survey on Thursday. Stand-outs—countries that had a yen for yellow metal—were the National Bank of Kazakhstan, and the central banks of the Philippines, Russia and Ukraine. Marcus Grubb, managing director at the World Gold Council, noted that gold demand for the year was down due to softness in China and India. "However, through all the uncertainty, it is clear that gold’s fundamental properties as a vehicle for capital...
  • Tracking the economy and GDP through trash

    08/17/2012 3:49:21 PM PDT · by DeaconBenjamin · 5 replies
    Marketplace ^ | Thursday, August 16, 2012 | Kai Ryssdal
    Kai Ryssdal: Sure, there were some economic numbers out this morning. First-time claims for unemployment benefits: Meh. And housing starts: Also meh. But how 'bout this? Trash. Garbage. Waste. Refuse. Therein, my friends, lies the economic truth. It came to me in a chart I saw online the other day -- railroad carloads of trash, as correlated to GDP. And the correlation is pretty close, too. Economist Michael McDonough has worked out the GDP-to-trash indicator. Welcome to the program. Michael McDonough: Hey, thanks for bringing me on to talk trash. Ryssdal: Yeah, that's right. Explain to me how this works,...
  • [California] Jobless Rate Unchanged Despite 12 Straight Months Of Jobs Added

    08/17/2012 2:38:48 PM PDT · by BenLurkin · 1 replies ^ | August 17, 2012 10:44 AM | John Brooks
    LOS ANGELES ( — A yearlong streak of new jobs in California has done little to change the state’s unemployment rate, according to data released Friday. KNX 1070′s John Brooks reports payrolls were expanded across several industries in July. Download: cal-jobs-1-jbr.mp3 Employers added 25,200 jobs statewide in July, the largest month-over-month increase in the nation, according to Loree Levy with the state Employment Development Department. Levy said while jobs were added in education and health services as well as leisure and hospitality, the best performer was professional and business services which added 10,300 jobs last month. “This is a lot...
  • Romney Nixes Obama Bid For 5-Year Tax Disclosure

    08/17/2012 2:23:10 PM PDT · by Biggirl · 91 replies ^ | August 17, 2012 | Charles Babington
    BOSTON (AP) - Barack Obama's re-election campaign kept up pressure against Republican rival Mitt Romney on two fronts Friday, launching a new ad defending the president's record on Medicare while challenging Romney to release at least five years of tax returns.
  • Unemployment Rate Rises in 44 States

    08/17/2012 2:09:26 PM PDT · by lbryce · 12 replies
    The Hil ^ | August 17, 2012 | Bernie Becker
    Close to 90 percent of states saw their unemployment rates rise in July, a potentially worrisome development for President Obama’s reelection campaign. The Labor Department reported Friday that 44 states in all saw their jobless rate go up, with four states seeing no change at all. Only Idaho and Rhode Island — along with Washington, D.C. — saw their rates drop last month. The economy added 163,000 jobs in July, the Labor Department said earlier this month, a figure that beat expectations and outpaced the sluggish job growth of the previous three months. But Republicans also latched on to the...