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...
  • Jobless rates creep up in swing states ( Aug 17, 2012)

    08/17/2012 1:10:17 PM PDT · by Ernest_at_the_Beach · 3 replies
    Marketwatch ^ | August 17, 2012, 1:15 PM | Robert Schroeder
    <p>Jobless rates rose in 44 states in July, including in several swing states considered key in the presidential election.</p> <p>Unemployment crept up in Florida, Iowa, Nevada and five more states labeled toss ups by RealClearPolitics. In another toss up state, Ohio, the jobless rate was unchanged in July at 7.2%.</p>
  • Recovery Summer 3: July Unemployment Up In 44 States

    08/17/2012 12:45:59 PM PDT · by IBD editorial writer · 1 replies
    Investor's Business Daily ^ | 08/17/2012 | John Merline
    In another sign of the ongoing jobs recession, fully 44 states saw their unemployment rates climb in July, according to state-level data released Friday by the Bureau of Labor Statistics. As a result, more than three years after the economic recovery officially started under President Obama, 10 states still have jobless rates of 9% or higher. Nevada's jobless rate, for example, climbed to 12%, New Jersey's rose to 9.8% and North Carolina's edged up to 9.6%. The states with the highest rates — Nevada, Rhode Island (10.8%), California (10.7%), New Jersey and North Carolina all voted for Obama in 2008.
  • ‘Who’s Your Daddy’ Truck Rolls Through NYC, Offers Answers With DNA Tests

    08/17/2012 11:29:47 AM PDT · by kevcol · 9 replies
    CBS New York ^ | Aug 15, 2012 | news
    NEW YORK (CBSNewYork) — It is a sign of the times — getting a quick DNA test is now as easy as walking up to a truck. The “Who’s Your Daddy” recreational vehicle is selling DNA tests, mostly to fathers who suspect their children may not actually be theirs. “They flag us down, they pull us over, they talk to us,” owner and operator Jared Rosenthal said Wednesday. . . “There’s a lot of difficult situations and tough moments and heartbreak,” Rosenthal said, adding that there are happy endings as well. “There’s a lot of good news that we’re...
  • Obama's DOL Gives Away $100 Million to Stop State Layoffs

    08/17/2012 11:18:36 AM PDT · by Kaslin · 5 replies ^ | August 17, 2012 | Mike Shedlock
    $100 million sounds like a lot of money, but it does not go very far these days. It is less than .01% of the deficit. The problem with such thinking is government programs start out "small" then end up costing tens of billions of dollars as each party tries to outdo the other in an attempt to buy voters. Please consider Labor Dept. Attempts to Stop Layoffs by Giving $100 Million to States to Subsidize Payrolls The Labor Department announced on Monday that it will be awarding almost $100 million in grant funding to states to prevent layoffs by allowing...
  • The Heart of Paul Ryan

    08/17/2012 11:06:47 AM PDT · by Kaslin · 9 replies
    Mitt Romney showed he's reaching not just for a win, but for a mandate. The elevation of Rep. Paul Ryan is a game changer because it is a conversation changer. His selection as veep nominee puts front and center the need to reign in the spending of a government that borrows 40 cents from China for every dollar it spends. But, to me, the most interesting thing about Ryan is the story of his hometown -- Janesville, Wisc. In Janesville lies Paul Ryan's beating heart. Filmmaker Brad Lichtenstein spent nine hours filming Ryan as part of a documentary, "As Goes...
  • Outsourcing Hypocrisy

    08/17/2012 10:12:23 AM PDT · by Kaslin · 1 replies ^ | August 17, 2012 | Bob Beauprez
    During the month of July, Barack Obama relentlessly attacked Mitt Romney with bogus charges of outsourcing American jobs during his tenure at Bain Capital.  Hypocrisy has become standard-operating-procedure for the Obama White House and campaign team.  However, some new information suggests that if Obama really wanted to rail against the big outsourcer he should have been talking to the man in his mirror. The Obama campaign spent millions on television ads accusing Romney of being the "outsourcer-in-chief."  But, when scrutinized by political truth-testers across the nation, the accusations proved to be false.Glenn Kessler, The Fact Checker at the Washington Post,...
  • Explaining Ryan’s Budget in the Wall Street Journal

    08/17/2012 10:06:45 AM PDT · by Kaslin · 3 replies ^ | August 17, 2012 | Daniel J. Mitchell
    Even though I’ve already made clear that I am less-than-overwhelmed by the thought of Mitt Romney in the White House, I worry that people will begin to think I’m a GOP toady. That’s because I’ve been spending a lot of time providing favorable analysis and commentary on the relative merits of the Ryan budget (particularly proposed reforms to Medicare and Medicaid) compared to President Obama’s statist agenda of class warfare and bigger government.I’ve already done a couple of TV interviews on Ryanomics vs Obamanomics and the Wall Street Journal this morning published my column explaining the key features of the Ryan...
  • Another Unappetizing Class Action Ruling from The Food Court

    08/17/2012 9:32:49 AM PDT · by AtlasStalled · 10 replies
    Forbes Magazine ^ | 08/09/12 | Glenn G. Lammi
    A past Washington Legal Foundation Legal Pulse post commented on the class action litigation exploits of California consumer Skye Astiana and her efforts to save Americans from “unnatural” products. One of the cases in which Ms. Astiana is a lead plaintiff, Astiana v. Dreyer’s Grand Ice Cream, survived a motion to dismiss recently, a development which underscores the havoc such lawsuit-by-lawsuit regulation can wreak on food packaging and marketing. The judge who authored the Astiana ruling sits on the U.S. District Court for the Northern District of California, or as we’d like to call it, The Food Court.*
  • Paul Ryan's radical beliefs about budgets, politics, and society

    08/17/2012 8:44:03 AM PDT · by SumProVita · 10 replies
    The Catholic World Report ^ | August 16, 2012 | Carl E. Olson
    This is, without doubt, brazen and even radical stuff, full of the sort of triumphalistic, jingoistic, and greedy rhetoric you expect from Republicans and conservatives. Brace yourself: ...snip... Oh, wait. My apologies; the quotes above were all taken from the 1960 and 1964 Democratic Party Platforms. How did that happen? Whoops.
  • Freedom and Liberty are Keys for a Rommney/Ryan Win

    08/17/2012 8:01:39 AM PDT · by Chickensoup · 21 replies
    08.17.12 | chickensoup
    There is one issue that neither side of the political war is talking about. It is a key issue of the rapidly eroding freedoms in the United States. This is a bipartisan issue and everyone is watching. People are watching all the cameras that watch them. People are listening to the government representatives who give more and more repressive rules People are watching repressive systems of tracking through license plates, through facial recognition, domestic drones, through financial systems, through medical records, computer records, telephone records, satellite records, search engine records, social media records, state records, travel records. And Republican, Democrat,...
  • Klein: Hillary Turned Down Veep Spot

    08/17/2012 7:32:16 AM PDT · by Kaslin · 73 replies ^ | August 17, 2012 | Larry Kudlow
    According to author Edward Klein, Obama has put out feelers to Hillary Clinton about accepting the VP spot on the ticket, but Hillary has said no. In the exclusive video below, Klein tells Larry Kudlow why Clinton is reluctant to take the number two spot. Klein: Until just a couple of weeks ago, the White House was putting out feelers to see if Hillary would accept the vice presidential nod and replace Joe Biden. Bill Clinton was, I'm told, urging his wife to accept the number two slot. He saw this as a great launching pad for her for running in 2016. But then Hillary had lunch in the White House a couple...
  • Finland: 'Prepare for eurozone breakup'

    08/17/2012 7:04:20 AM PDT · by TigerLikesRooster · 29 replies
    Deutsche Welle ^ | 08/17/12
    Eurozone Finland: 'Prepare for eurozone breakup' Finnish politicians are beginning to evaluate the worst-case scenarios of the eurozone's debt difficulties. They have called on fellow European leaders to consider contingency plans should the currency union collapse. Finland's Foreign Minister, Erkki Tuomioja, told the Friday edition of the Daily Telegraph that European leaders must be prepared for the possibility, however undesirable, of the euro area breaking up. He stated in his interview with the right-leaning newspaper that Finnish officials had been preparing for the demise of the single currency in its present form with an operational plan for any eventuality. Tuomioja...
  • The Bucks Never Stop with President What's-His-Name

    08/17/2012 6:47:39 AM PDT · by Kaslin · 9 replies ^ | August 17, 2012 | John Ransom
    There’s a millstone hanging around the neck of the US economy. And his name is Barack Obama. Blame Bush if you want, but post-9/11, Bush’s policies got the country moving in the right direction after a hard right hook.Blame Bush if you must, but the “blame Bush” mantra doesn’t change some critical facts:You see, George Bush isn’t running for president of the United States. Barack Obama is; and voters seem to be aware of this fact, to the dismay, no doubt, of the White House. “A New York Times/CBS News poll released Thursday,” wrote the Washington Times in April of...
  • Progressive insurance on defense after court case

    08/17/2012 6:20:19 AM PDT · by safetysign · 22 replies
    AP ^ | 08/17/2012 | MATTHEW BARAKAT
    The Progressive Corp. insurance group is defending itself against an onslaught of negative publicity after it tried to avoid paying $75,000 to the family of a client killed in a car crash and sought to blame the wreck on her.
  • Potential FAA cuts would create big hassles for fliers

    08/17/2012 5:51:27 AM PDT · by Olog-hai · 4 replies
    Cable News Network ^ | 5:31 AM EDT, Fri August 17, 2012 | Thom Patterson
    Look out, air travelers. A congressional slugfest over the U.S. deficit is threatening to trigger higher airfares and widespread slowdowns at the nation’s airports. Remember that big fight in Congress last year over the national budget deficit? Eventually Congress and the White House agreed to scheduled budget cuts that are so deep that lawmakers would be forced to come together on tough choices. Washington wonks call these cuts “sequestration.” The Federal Aviation Administration is in the crosshairs for sequestration—with a possible $1 billion in mandatory cuts scheduled to occur as soon as January. A new study says the cuts would...
  • Harry Reid's Cow and Joe Biden's Parrot

    08/17/2012 5:36:28 AM PDT · by IbJensen · 10 replies
    American Spectator ^ | 8/16/2012 | R. Emmett Tyrrell, Jr.
    The Senate majority leader continues to stonewall on a sensitive matter. WASHINGTON -- A week passes, and thus far the Senate Majority Leader Harry Reid has yet to tell us whether he is or is not having sexual relations with a cow. As was reported in this column last week, based on sources in the field, Mr. Reid has been involved with the cow for at least three months, possibly more. My sources cannot be identified for obvious reasons. Even the New York Times would not reveal their identities. The story is that hot. -snip- -snip- As for Mr....
  • Budget Deficits vs. Exports

    08/17/2012 5:24:50 AM PDT · by 1rudeboy · 10 replies
    The Heritage Foundation ^ | August 15, 2012 | Bryan Riley
    The federal government recently announced that it is expected to run a budget deficit of more than $1 trillion for the fourth straight year. One often-overlooked result of these large budget deficits is their negative impact on U.S. exporters.Sales of U.S. Treasury securities to foreigners are not counted as exports. But if they were, Treasury securities would be one of the country’s biggest exports.The government sold $216.5 billion in treasury bonds to foreigners in the first five months of 2012. That’s four times more than the amount exported by U.S. agricultural producers and three-and-a-half times more than the amount...
  • EPA is pressured to drop ethanol mandate while drought drives corn prices up

    08/17/2012 4:09:44 AM PDT · by ShadowAce · 31 replies
    Fox News ^ | 16 August 2012 | Doug McKelway
    With record drought destroying crops across the country, corn prices are skyrocketing, and that is causing a world-wide ripple effect, including on the cost of the corn-derived gasoline additive ethanol. Corn prices are up 60 percent this summer, Christopher Hurt, a Purdue University economic professor, estimates. And now Democratic governors from Maryland, Delaware, North Carolina and Arkansas have joined ranchers, poultry farmers and the United Nations director-general for food and agriculture in asking the Environmental Protection Agency to waive the federal requirement that gasoline contain 10 percent ethanol. "It's universally acknowledged that ethanol is raising the price of food," Kenneth...
  • Banks Fight Back Vs. Holder's Race-Bias 'Witch Hunt'

    08/17/2012 4:08:20 AM PDT · by expat_panama · 8 replies
    For the past three years, the Justice Department has filed a series of bruising lawsuits against U.S. lenders for race discrimination while hiding behind opaque investigative methods and hoping banks don't challenge the cases in court. But while most banks have quietly settled the record number of lending-bias claims, some are fighting back against what they call a never-ending "witch hunt."In interviews with IBD, bankers and their lawyers complain that Attorney General Eric Holder and his army of civil-rights prosecutors have built their cases around dubious statistical models instead of complaints from actual victims of discrimination.The DOJ filed at least...
  • Progressive insurance on defense after court case

    08/16/2012 11:53:15 PM PDT · by SmithL · 30 replies
    AP via SFGate ^ | 8/16/12 | MATTHEW BARAKAT, Associated Press
    McLEAN, Va. (AP) — The Progressive Corp. insurance group is defending itself against an onslaught of negative publicity after it tried to avoid paying $75,000 to the family of a client killed in a car crash and tried to blame the wreck on her. The criticism began Monday with a blog post from 33-year-old Matt Fisher of Brooklyn, whose sister Kaitlynn Fisher had Progressive insurance and was killed in a June 2010 car crash in Baltimore. In order to avoid the payout to Kaitlynn Fisher's family, Progressive interjected itself into a lawsuit the Fisher family filed against the other driver....
  • EU: Angela Merkel warns 'time is of essence' on euro crisis

    08/16/2012 10:17:38 PM PDT · by bruinbirdman · 6 replies
    The Telegraph ^ | 8/16/2012
    Angela Merkel warned that "time is of the essence" in tackling the eurozone crisis and voiced her support for ECB President Mario Draghi's crisis-fighting strategy. German Chancellor Angela Merkel voiced support for ECB President Mario Draghi's crisis-fighting strategy on Thursday and pressed her European partners to move swiftly towards a closer integration of fiscal policies, saying time was running short. On a visit to the Canadian capital Ottawa, where she held talks with Prime Minister Stephen Harper on the euro crisis, an EU-Canada free trade agreement and the situation in Syria, Merkel sent a message to her fellow European leaders...
  • Fan Sues Dallas Cowboys For Burned Buttocks

    08/16/2012 9:29:57 PM PDT · by doug from upland · 52 replies
    NORTH TEXAS (CBSDFW.COM) – It’s a case of a woman with burned buttocks, literally! A Dallas Cowboys fan is suing the organization and owner Jerry Jones over burns she says she received because of their negligence. Jennelle Carrillo, of Cleburne, received severe burns to her backside after allegedly sitting on a bench outside Cowboys Stadium. “She sat down on this black bench, outside an entrance and unfortunately she suffered third-degree burns as a result of it and had subsequent skin grafts,” explained Carrillo’s lawyer, Michael Wash. The incident occurred in August of 2010, when Carrillo attended the Blue & Silver...
  • What's 'Flo' doing with your insurance premiums?

    08/16/2012 8:25:38 PM PDT · by Impala64ssa · 26 replies
    World Net Daily ^ | Dave Tombers
    Progressive chairman known for promoting drugs, funding ACLU attacks on religion. Everyone has seen the commercials with the ditzy brunette touting the lowest rates on auto insurance.The company’s name is Progressive. This company lives up to its name – the same way the far left clings to the term “progressive.” How so? Word started to leak out earlier this year, when Forbes reported that the “left-leaning billionaire Peter Lewis,” Progressive’s chairman, got involved in the 2012 election with a $200,000 donation to American Bridge 21st Century, a “liberal upper PAC founded by David Brock of Fox News watchdog Media Matters...
  • Italy's public debt hits record

    08/16/2012 7:34:23 PM PDT · by Olog-hai · 1 replies
    EurActiv ^ | 14 August 2012 | ( with Reuters)
    Italy's public debt hit an all-time high in June of almost €2 trillion and the annual budget deficit was also bigger than a year before, due largely to Italy's share of bailouts for other eurozone states, the central bank announced. Public debt at the end of June rose €6.6 billion to €1.973 trillion, the Bank of Italy said yesterday (13 August), as the Treasury's cash reserves increased by €10.3 billion. Italy's benchmark bond yields remain close to 6% despite tough austerity measures introduced by Prime Minister Mario Monti's government. With the country mired in a deep recession, markets are skeptical...
  • Oh my: Romney busts out the white board on Medicare

    08/16/2012 5:23:56 PM PDT · by RobinMasters · 30 replies
    Hot Air ^ | AUGUST 16, 2012 | ALLAHPUNDIT
    Via Ace, who rightly points to Karl’s post here yesterday as anticipating how the GOP will run this Medicare offensive. Normally I think visual aids on the trail risk turning voters off because they’re too self-consciously didactic, but not this time. As Virginia Postrel says, wonking out might be just the ticket: We’re in another anxious period, and voters are again primed to consider serious policy talk. To play up its team’s strengths as numbers guys, countering the self-congratulatory idea of Democrats as the party of intellect, the Romney campaign could make a gutsy move. It could deploy Ryan to...
  • Finland prepares for break-up of eurozone

    08/16/2012 4:58:19 PM PDT · by bruinbirdman · 6 replies
    The Telegraph ^ | 8/16/2012 | Ambrose Evans-Pritchard, in Helsinki
    Finland is preparing for the break-up of the eurozone, the country’s foreign minister warned today. Erkki Tuomioja, Finland's foreign minister: "We have to face openly the possibility of a euro-break up". The Nordic state is battening down the hatches for a full-blown currency crisis as tensions in the eurozone mount and has said it will not tolerate further bail-out creep or fiscal union by stealth. “We have to face openly the possibility of a euro-break up,” said Erkki Tuomioja, the country’s veteran foreign minister and a member of the Social Democratic Party, one of six that make up the country’s...
  • New rail stations, tunnel to airport eyed for Philadelphia (10 miles, *only* $3 billion)

    08/16/2012 4:28:21 PM PDT · by Olog-hai · 9 replies
    Philly Inquirer ^ | August 15, 2012 | Paul Nussbaum
    If bullet trains someday race up and down the East Coast, they may not stop at 30th Street Station. Amtrak and city officials envision a new high-speed rail station on Market Street east of City Hall, linked by a 10-mile tunnel to Philadelphia International Airport, where a second new station would be built. The neoclassical 30th Street Station, opened in 1933 by the Pennsylvania Railroad and touted by Trains Magazine last year as "America's Finest Railroad Station," would become a hub for slower intercity trains and commuter service. Amtrak, which owns the station, says a new high-speed rail alignment beneath...
  • Poll: Almost half of Brits want to leave the EU

    08/16/2012 4:19:39 PM PDT · by Olog-hai · 7 replies
    EU Observer ^ | 14.08.12 @ 17:43 | Andrew Rettman
    Almost half of British citizens would vote to leave the EU if there was a referendum, pollsters say. A survey by Canadian firm Angus Reid out on Tuesday (14 August) noted that 46 percent would vote to leave. It also said 54 percent believe the last 40 years of British EU membership has had a "negative" effect on the country and that 81 percent are happy they do not use the euro. The numbers are more or less stable compared to December 2010 (the oldest data cited). At the time, 48 percent of people wanted Britain to leave. Amid talk...
  • Eurozone crisis spooks US election

    08/16/2012 4:12:47 PM PDT · by Olog-hai · 5 replies
    EU Observer ^ | 14.08.12 @ 09:05 | Valentina Pop
    What does Greece have to do with the next US president? Or the current debate about a "political and fiscal union" in Europe? Readers tempted to shrug shoulders and say "not much" would be ill-advised. The main topic in the US campaign ahead of the 6 November presidential elections is the economy. And Europe has become the bogeyman for the Republican camp. "I see our President making us more and more like Europe. I don't want to be like Europe, I want to be like America," Republican candidate Mitt Romney said on Sunday (12 August) during a campaign event in...
  • Is Australia Prohibiting Branding on Packs of Cigarettes?

    08/16/2012 3:31:01 PM PDT · by OneVike · 16 replies
    News Blaze ^ | 8/16/12 | Mina Fabulous
    With the recent Australia's High Court dismissal of the appeal by tobacco companies against a law requiring all cigarettes to be sold in plain packaging, Australia is now on track to become the first country to prohibit branding on packs of cigarettes. Reports say Australia's court has dismissed a legal challenge from the tobacco industry targeting the Country's new restrictive tobacco marketing laws. The ruling means that from December 1 companies will be banned from displaying brand designs on cigarette packets. The packaging will require only olive-green packaging. Today, the World Health Organization strongly welcomed the "landmark" ruling.WHO Director-General...