Business/Economy (News/Activism)

Brevity: Headers | « Text »
  • TransCanada Formally Seeks NAFTA Damages in Keystone XL Rejection

    06/25/2016 4:56:57 PM PDT · by smokingfrog
    Reuters ^ | 6-25-16 | staff
    TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama’s rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday. TransCanada submitted a notice for an arbitration claim in January and had then tried to negotiate with the U.S. government to “reach an amicable settlement,” the company said in files posted on the pipeline’s website. “Unfortunately, the parties were unable to settle the dispute.” TransCanada said it then filed its formal arbitration request under North American Free Trade Agreement (NAFTA) provisions, seeking to recover what it says are costs and...
  • Paul Krugman’s Democratic Party

    06/25/2016 3:47:05 AM PDT · by Kaslin · 17 replies
    Townhall.com ^ | June 25, 2016 | John C. Goodman
    Paul Krugman may understand the Democratic Party better than most Democrats do. The New York Times editorial writer describes Democrats as a “coalition of social groups, from teachers’ unions to Planned Parenthood, seeking specific benefits from government action.” More often than not, what these groups want from government is at someone else’s expense.That isn’t just a characteristic of the party. That’s what the Democratic Party is.There are also groups that support Republicans: gun owners, small business owners, evangelicals, etc. But Republican groups tend to not want anything from government. More often than not they just want to be left alone....
  • Countrywide Mortgage Devastation Lingers as Ex-Chief Moves On

    06/25/2016 12:17:28 PM PDT · by Reverend Wright · 14 replies
    NY Times ^ | June 24, 2016 | Gretchen Mogensen
    Angelo Mozilo can finally get on with his life. This month the Justice Department told Mr. Mozilo, the former chief executive of Countrywide Financial, once the nation’s largest subprime mortgage lender, that he was no longer under investigation in connection with civil mortgage fraud. The government’s criminal inquiry into Mr. Mozilo’s role in the financial crisis was dropped previously, so he is now in the clear. At least that’s the view from Washington. On Main Street, where the pain of Countrywide’s reckless lending and abusive foreclosure practices still throbs, it’s safe to say that Mr. Mozilo is still identified as...
  • Exxon Refuses To Bow Down To The Climate Fascists

    06/25/2016 10:10:23 AM PDT · by rktman · 29 replies
    capitalismmagazine.com ^ | 6/21/2016 | Jaana Woiceshyn
    Many oil companies succumb to the pressure from environmental activists and the media and join the fight against ‘climate change,’ or at least make motions to appear to do so. Not Exxon Mobil. In a previous column, I applauded CEO Rex Tillerson for refusing to climb on the climate change band wagon and for focusing on producing energy from fossil fuels—on which all of us depend—instead. Tillerson and Exxon have not lost their integrity: they are steadfastly holding on to the principles they know their existence and successful value creation depend on, such as the right to liberty, and more...
  • Woodrow Wilson Center: ‘Giant Number of Refugees’ Are Result of Climate Change

    06/25/2016 8:48:02 AM PDT · by Olog-hai · 40 replies
    Cybercast News Service ^ | June 24, 2016 | 5:05 PM EDT | Penny Starr
    During an event at the Woodrow Wilson International Center for Scholars on Thursday to discuss how women are disproportionately affected by climate change in developing countries, Jane Harman, president and CEO of the center, said that many of the refugees around the globe today are being displaced by climate change. Harman said it is in the interest of the United States to “build resilience” in these countries to prevent migration and even terrorism. “It seems to me that the U.S. has a direct interest in building government capacity, which will build resilience in the countries you’re talking about,” Harman said....
  • Blue Cross and Blue Shield of Minnesota Bails On ObamaCare After $500M Loss

    06/25/2016 8:29:04 AM PDT · by lowbridge · 25 replies
    Breitbart ^ | June 24, 2016 | Jlhn Hayward
    The partial withdrawal of Blue Cross and Blue Shield of Minnesota from the ObamaCare marketplace, driven out by staggering financial losses, is another important milestone in the collapse of the ill-conceived and inaccurately named Affordable Care Act. Providers have been bailing out of ObamaCare across the land, but not Blue Cross/Blue Shield providers. It’s not a total departure from the market, as CEO Michael Guyette took pains to explain at the Minneapolis Star-Tribune: In a sign of continuing tumult in the health insurance industry, the state’s largest insurer said Thursday it will no longer offer its traditional suite of flexible...
  • Republican ex-Treasury chief Paulson slams Trump, to vote for Clinton

    06/25/2016 7:28:18 AM PDT · by Olog-hai · 89 replies
    Reuters ^ | Fri Jun 24, 2016 8:37pm EDT | Eric Beech
    Henry Paulson, a Republican who was U.S. Treasury secretary during the 2008 financial meltdown, on Friday called a Donald Trump presidency “unthinkable” and said he will vote for Democrat Hillary Clinton. Paulson joins a growing list of establishment Republicans who say they will not cast a ballot in the Nov. 8 election for Trump, the party’s presumptive nominee and a political neophyte whose populist rhetoric runs counter to many long-held Republican principles. […] “I’ll be voting for Hillary Clinton, with the hope that she can bring Americans together to do the things necessary to strengthen our economy, our environment and...
  • Hitler finds out about Britain Leaving the EU !!!

    06/25/2016 7:35:02 AM PDT · by central_va · 11 replies
    youtube ^ | 6/25/16 | parody
    "Call Canaris. Tell him to release Hillary Clinton's emails immediately!"Link here.
  • Petition for London independence signed by thousands after Brexit vote

    06/25/2016 6:19:44 AM PDT · by rktman · 58 replies
    bbc.com ^ | 6/24/2016 | unknown
    A petition calling for Sadiq Khan to declare London an independent state after the UK voted to quit the EU has been signed by thousands of people. The petition's organiser James O'Malley, said the capital was "a world city" which should "remain at the heart of Europe". Nearly 60% of people in the capital backed the Remain campaign, in stark contrast to most of the country.
  • Phoenix Approves Up To $10 Million To Encourage Recycling

    06/25/2016 6:13:44 AM PDT · by hsmomx3 · 11 replies
    KJZZ ^ | 06/22/16 | Christina Estes
    In 2013, the Phoenix City Council created a goal to divert 40 percent of trash from landfills by 2020. To meet that goal, the Public Works Department says outside help is needed. The council discussed the plan during Wednesday's meeting, and it was clear that not everyone thought the price is right. “I think we should have started smaller and built up," said Councilman Michael Nowakowski. He voted against the contract which focuses on community outreach and provides incentives for people who recycle. Before voting no, Councilman Sal DiCiccio said, “If the public wants to understand why they’re paying huge...
  • Germany says 'won't let anyone take Europe from us'

    06/25/2016 5:39:52 AM PDT · by Olog-hai · 91 replies
    TheLocal.de ^ | 25 Jun 2016 11:38 GMT+02:00 | (DPA/The Local)
    German Foreign Minister Frank-Walter Steinmeier said on Saturday that the EU would weather the shock of the British vote to leave the union as he convened crisis talks. “I am confident that these countries can also send a message that we won’t let anyone take Europe from us,” he said heading into a meeting in Berlin of his counterparts from the EU’s six founding members. […] Steinmeier called the European Union “a successful project of peace and stability” and said that there was a “strong desire” within the bloc to defend and strengthen it. …
  • Obama stands by warning on British trade deal after EU vote: White House

    06/24/2016 9:11:41 PM PDT · by Mariner · 87 replies
    Reuters ^ | June 24th, 2016 | by Roberta Rampton
    President Barack Obama stands by his comment that Britain would move to the back of the queue when it comes to trade deals with the United States if it left the European Union, the White House said on Friday. "Obviously, the president stands by what he said and I don't have an update of our position," White House spokesman Eric Schultz told reporters at a briefing. Obama urged Britain to remain in the EU when he visited London in April and warned that a trade agreement between the two countries would not happen anytime soon if Britain left the bloc.
  • The Brexit Wake-Up Call

    06/24/2016 5:20:14 PM PDT · by Hojczyk · 8 replies
    Lifezette ^ | June 24,2016 | Laura Ingraham
    By voting to leave the European Union, the British people have retaken control of their destiny from an out-of-touch collection of elites who had presided over one disaster after another, and that were anxious to see Britain lose its status as an independent country — something the British have not only cherished, but have often fought to preserve. By doing so, they have not only regained their own freedom, but have sent an important message to elites and Establishment leaders everywhere — including the United States. Democracy is meaningless without independence. Middle-schoolers may get to vote for class president —...
  • Greg Palkot: Trump, Brexit, and a straight whiskey

    06/24/2016 4:12:05 PM PDT · by Hojczyk · 20 replies
    Fox News ^ | June 24,2016 | Greg Palkot
    What sounded like an ill-fated trip to a foreign business enterprise turned into a perfect foreign policy photo op for Donald Trump. He stood on the shimmering southwest Scottish coast, launched his refurbed Turnberry golf course, and praised the just announced results of the UK referendum on the the European Union. "People want to take their country back," Trump declared, "They want to have At one point, as we trailed the Trump caravan, cameraman Mal James turned to me and said, this is the biggest European story since the fall of the Berlin Wall. And he was right. The majority...
  • "Today Is The Appetizer For Monday"

    06/24/2016 3:52:04 PM PDT · by SkyPilot · 5 replies
    ZeroHedge ^ | 24 Jun 16 | Tyler Durden
    Early this morning we laid out the thoughts of RCB's Charlie McElligott on today's dramatic market action, which discussed not the blow up of "fat tail" quant stategies (something we touched upon later and which is likely to unleash even more quant-driven selling next week) and the "forced out" liquidations across the curve coupled with a rush into safety, but also the biggest question of all for today's trades - which macro funds are quietly blowing up? Now, we follow it up with a second piece by the RBC trader, one which those worried about being caught long risk over...
  • Megyn Kelly rips Lewandowski CNN hire

    06/24/2016 3:05:25 PM PDT · by dynachrome · 45 replies
    politico ^ | 6-24-16 | NICK GASS
    Megyn Kelly laced into CNN on her show Thursday night, ripping her competitor for hiring Donald Trump's fired campaign manager Corey Lewandowski as a paid contributor. During a segment with media critic Howard Kurtz, Kelly noted that Lewandowski has "threatened more than one journalist in the course of this campaign," including with CNN's Noah Gray last November, when he warned the campaign embed "get back in the pen or he's f------ blacklisted." Lewandowski, Kelly continued before asking Kurtz for his opinion, "has had some very ugly language attributed to him when it comes to women and now he will be...
  • Obama: EU and Britain both ‘indispensable partners’

    06/24/2016 12:39:13 PM PDT · by Nachum · 10 replies
    The Times of Israel ^ | 6/24/16 | AFP
    President Barack Obama, who had warned against Britain quitting the European Union, said Friday that Washington would respect the British voters’ decision to do just that. The US leader said Britain and the European Union would both remain “indispensable partners” of the United States and that the “special relationship” with London would endure. “The people of the United Kingdom have spoken, and we respect their decision,” Obama said, in a statement from his White House office. But, in a nod to Washington’s frustration that its ally has been unwilling to back a European project seen as a cornerstone of Western...
  • Banks may have a subprime auto loan problem

    06/24/2016 12:51:34 PM PDT · by Lorianne · 37 replies
    CNBC ^ | 22 June 2016 | Tae Kim
    Negative subprime auto data from CarMax's earnings is bad news for regional banks, according to investment firm Piper Jaffray. "CarMax is the largest used car dealer in the country, we believe these developments indicate we will continue to see more pressure on used car prices in the coming months," Piper Jaffray's Kevin Barker wrote in a note to clients Tuesday. He added, "The decline in sales from lower tier borrowers (near-prime to subprime) are a clear signal the market recognizes subprime lending may have been overextended. These developments continue to confirm our thesis that lower used car prices and lower...
  • What Does It take to Be Upper Middle Class?

    06/24/2016 12:48:21 PM PDT · by Lorianne · 33 replies
    Of Two Minds ^ | 21 June 2016 | Charles Hugh Smith
    What's left unsaid is much of the upper middle class is prospering due to privileged positions that are increasingly at risk of disruption ___ What does it take to be upper middle class? According to one analyst, the answer is: at least $100,000 a year for a family of three. The Growing Size and Incomes of the Upper Middle Class (Urban Institute). http://blogs.wsj.com/economics/2016/06/21/not-just-the-1-the-upper-middle-class-is-larger-and-richer-than-ever/ The paper claims the upper middle class has grown from 12.9% of the population in 1979 to 29.4% in 2014--in essence, the shrinkage of the "middle class" is not just from households dropping down the ladder but...
  • Zombie states deteriorating faster and further

    06/24/2016 12:44:11 PM PDT · by Lorianne · 4 replies
    Truth in Accounting ^ | 20 June 2016 | Bill Bergman
    2014 article by author 'Zombie' Pensions: When Accounting Practices Hide the Truth from Taxpayers http://www.governing.com/gov-institute/voices/col-zombie-public-pension-funds-accounting-practices.html
  • Mark Zuckerberg Tapes Laptop Camera And Microphone (trunc)

    06/24/2016 12:31:26 PM PDT · by Lorianne · 20 replies
    International Business Times ^ | 22 June 2016 | David Gilbert
    Given that he recently had the embarrassment of having his Twitter and Pinterest accounts hacked, it is really no surprise to learn that Facebook CEO Mark Zuckerberg is taking some additional security measures after he accidentally revealed he tapes over the camera and microphone of his laptop. Celebrating Instagram's announcement Tuesday that it had grown to 500 million users, Zuckerberg posted a photo of himself at his desk with a cardboard cutout of the Instagram interface. Here's the photo:
  • 'Germany needs to make UK come to its senses'

    06/24/2016 11:49:58 AM PDT · by Olog-hai · 82 replies
    TheLocal.de ^ | 24 Jun 2016 16:27 GMT+02:00 | Jörg Luyken
    Britain leaving the EU means trouble ahead for Germany — and its hardest task will be convincing the Brits to drop a self-defeating ideology, a leading foreign policy expert told The Local. German business has a lot of vested interest in British markets, explains Josef Janning, head of the European Council on Foreign Relations (ECFR) in Berlin. And that means Germany will have its work cut out negotiating a settlement which gives Britain access to the single market after it leaves the European Union. […] Being integrated into the single market will mean the UK will have to “swallow the...
  • As Europe’s sceptics cheer Brexit, its enthusiasts mourn

    06/24/2016 10:59:30 AM PDT · by Lorianne · 25 replies
    Economist ^ | 24 June 2016
    The shocked reactions of many European leaders suggested they had not fully absorbed the possibility of a vote for Brexit. Angela Merkel, Germany’s chancellor, called a crisis meeting of parliamentary leaders and cabinet members. In Rome, the Italian prime minister, Matteo Renzi, convened an emergency meeting of ministers and scrapped a scheduled summit of his party’s leaders. France’s president, François Hollande, held a long emergency session at the Elysée. When he emerged his tone was measured (he promised to continue to work closely with Britain), but he added that the EU now needed a “leap forward” to ward off the...
  • Texas DOT Changes Course, Will Assess Highway Project's Impacts on Threatened Salamanders, Birds

    06/24/2016 10:07:06 AM PDT · by Tolerance Sucks Rocks · 26 replies
    The Center for Biological Diversity ^ | June 21, 2016 | Jenny Loda and Kelly Davis
    AUSTIN, Texas— In response to a notice of intent to sue filed by the Center for Biological Diversity and Save Our Springs Alliance in May, the Texas Department of Transportation changed course on a major highway project in Austin, withdrawing its finding that the highway would have no impact on three federally protected species (two salamanders and a bird). The state’s transportation agency said in a letter that it has initiated consultation with the U.S. Fish and Wildlife Service on the three species.The construction of the MoPac Intersections Project across the environmentally sensitive Barton Springs Edwards Aquifer Recharge Zone, in...
  • Highway project delays rack up $700 million cost overruns

    06/24/2016 9:54:35 AM PDT · by Tolerance Sucks Rocks · 20 replies
    The Milwaukee Journal Sentinel ^ | June 13, 2016 | Catie Edmondson
    Madison— Faced with delays and inflation over the past five years, four major state highway projects — including a Madison artery — have accumulated overruns in excess of $700 million. While some of these increases come from faulty cost estimates or unavoidable inflation, the new figures underline the obvious: Delays can be costly for Wisconsin taxpayers. When projects are paused because of financial challenges in the state's road fund, the price of materials, labor and real estate can rise. The numbers compiled by the Milwaukee Journal Sentinel underline the urgency of a divisive issue for Wisconsin's Republican leaders: finding a...
  • How Brexit Will Affect Americans [tr]

    06/24/2016 8:17:02 AM PDT · by Albion Wilde · 33 replies
    DailyMail ^ | 6/24/16 | Kiri Blakeley
    Full title: How Brexit Will Affect Americans: Cheaper travel to the UK and Europe, lower mortgage rates - but a very bumpy stock market ride • Americans can expect an extremely bumpy stock market ride • They can also look forward to cheaper travel to Europe and Britain • Experts are concerned that counterterrorism efforts in Europe will [wane] The first noticeable difference the vote made was to plunge the British pound to a 30-year low. Currently, it will only cost $1.34 to get one pound. And the U.S. dollar could continue to strengthen. That's good news for Americans looking...
  • 'Brexit is proof that Trump will be the next president': 'Anti-immigration' message...[tr]

    06/24/2016 8:08:48 AM PDT · by Albion Wilde · 47 replies
    DailyMail ^ | 6/24/16 | Khaleda Rahman
    Full title: 'Brexit is proof that Trump will be the next president': 'Anti-immigration' message and shift to the Right that led to UK's seismic break with Europe draws parallels with rise of The Donald • The UK voted to leave the European Union in an historic referendum • Many on Twitter believe the result is a sign Trump will win in November • They compared the leave campaign's 'divisive' message with Trump's • Others showed concern it will lend credence to Trump's nationalist agenda ...today, he promised close ties between the U.S. and UK if he becomes President, saying: 'A...
  • 'Leave as soon as possible', EU chiefs tell Britain after Brexit vote

    06/24/2016 7:25:15 AM PDT · by Tolerance Sucks Rocks · 70 replies
    The Times of India ^ | June 24, 2016 | AFP
    BRUSSELS: EU chiefs on Friday told Britain to start negotiations to quit the bloc "as soon as possible", after outgoing Prime Minister David Cameron said he would leave the negotiations to his successor. "We now expect the United Kingdom government to give effect to this decision of the British people as soon as possible, however painful that process may be," said a joint statement after Britons voted for a Brexit . "Any delay would unnecessarily prolong uncertainty." The statement was issued by EU president Donald Tusk, European Commission chief Jean-Claude Juncker, EU Parliament leader Martin Schulz and Dutch premier Mark...
  • Brad Thor Announces Candidacy for President as Third Party Option (Stabby the Clown show continues)

    06/24/2016 7:07:45 AM PDT · by CreviceTool · 67 replies
    GlennBeck.com ^ | June 23,2016 | Ted
    Brad Thor dropped a major bomb-shell on Glenn’s radio program Thursday, saying he’s committed to running for president of the United States. Glenn introduced his friend by reminding listeners about the author’s courage in the face of controversy. “I believe Brad is one of the most courageous people out there. Because — he is in business. You’re selling a book. And what you said — I shouldn’t say what you said — because what you said was not controversial,” Glenn said. Some may recall the flak Glenn received following Thor’s fiery remarks about Donald Trump in his previous interview on...
  • Soros looks set to make a killing on Brexit result

    06/24/2016 6:54:17 AM PDT · by b4its2late · 29 replies
    Market Watch ^ | Published: June 24, 2016 9:41 a.m. ET | Mark Decambre
    George Soros may be getting rich on an implosion in British markets—again. The landmark vote in the U.K. to leave the European Union has rocked global markets, sending the British pound GBPUSD, -7.3484% to its lowest level in more than 30 years. Futures for the Dow Jones Industrial Average DJIA, -2.27% plunged as much as 700 points at one point and Europe’s benchmark stock-index SXXP, -6.10% was facing its worst one-day plunge since 1987. It is precisely the scenario Soros, writing in Britain’s Guardian newspaper last week, warned of. The global financial carnage and Friday’s carnage could be adding to...
  • The Brexit contagion: How France, Italy and the Netherlands now want their referendum too

    06/24/2016 6:49:53 AM PDT · by Mariner · 73 replies
    The Telegraph ^ | June 24th, 2016 | Matthew Holehouse, Brussels
    Voters in France, Italy and the Netherlands are demanding their own votes on European Union membership and the euro, as the continent faces a “contagion” of referendums. EU leaders fear a string of copycat polls could tear the organisation apart, as leaders come under pressure to emulate David Cameron and hold votes. It came as German business leaders handed a considerable boost to the Leave campaign by saying it would be “very, very foolish” to deny the UK a free trade deal after Brexit. Markus Kerber, the head of the BDI, which represents German industry, said that 1970s-style trade barriers...
  • How Election Will Really Affect Your Investments

    06/24/2016 6:49:22 AM PDT · by expat_panama · 12 replies
    Money ^ | June 22, 2016 | Taylor Tepper
    Emotions are running high in this campaign. And that—not any candidate’s policies—is the real threat to your portfolio. Here’s how to drown out the noise. Stocks will plunge if Donald Trump is elected President. And the bond market could capsize if Trump goes ahead with plans to renegotiate the national debt. Yeah, but if Hillary Clinton wins the White House, she’ll cripple the economy by hiking taxes by $1 trillion. And oh, by the way, her foreign policy will end up destroying the world. As these are actual statements made by famous investors—like billionaire Mark Cuban and Swiss investment adviser...
  • How Trump benefits from Brexit

    06/24/2016 5:58:23 AM PDT · by Hojczyk · 19 replies
    Yahoo Finance ^ | June 24,2016 | Andy Serwer
    UK voters shocked just about everyone when they voted Thursday to leave the European Union. The Brexit shows the weakness not only of the EU and globalization — but also of polling. And doesn’t Donald Trump love that! Wall Street too was caught completely off guard because it appeared that firms did independent polling that they believed showed the "remain" votes would win, traded the pound sterling up on that notion and then got crushed when the news came out the other way. It really was a rejection of the British establishment by the voters, with a great deal of...
  • With a British adieu to EU, it's farewell to a Fed rate hike for now

    06/24/2016 5:34:39 AM PDT · by mykroar · 15 replies
    CNBC.com ^ | 6/23/2016 | Reuters
    The U.S. Federal Reserve, already undecided on when next to raise interest rates, now has one more reason to wait: Britain's vote on Thursday to leave the European Union. Not that the Fed needed another reason. Weaker-than-expected growth in U.S. jobs in recent months had already forced U.S. central bankers to put off a rate hike at their meeting last week.But while data due early next month on June U.S. payrolls growth could help clear up doubts about the strength of the labor market, the political and economic consequences of Britain's exit from the EU will take months or years...
  • Britons 'took their country back' in Brexit vote: Trump

    06/24/2016 5:23:45 AM PDT · by Hojczyk · 102 replies
    Yahoo Finance ^ | June 24,2016
    Presumptive Republican presidential nominee Donald Trump said that Britons had taken back control of their country on Friday, after they voted to leave the European Union (EU) in a referendum. Trump arrived in Scotland -- whose citizens took part in the referendum -- on Friday morning for the opening of his Trump Turnberry luxury golfing resort. In a wide ranging press conference the tycoon said that, in the wake of the referendum, the break-up of the EU looked like it was "on its way, and we'll see what happens." Trump also commented on President Barack Obama's warning in April that...
  • HSBC, Standard Chartered Fall on Early Results of UK Vote

    06/24/2016 4:10:40 AM PDT · by Cronos · 2 replies
    NewsMax ^ | 24 June 2016 | NewsMax
    London-based banks HSBC Holdings Plc and Standard Chartered Plc tumbled in Hong Kong after early results from Britain’s European Union referendum indicated greater support for an exit than academics had forecast. HSBC, which made about a third of its 2015 revenue in Europe, fell as much as 3.1 percent and Standard Chartered as much as 3.7 percent. Financial institutions including JPMorgan Chase & Co., HSBC and Deutsche Bank AG warned ahead of Britain’s vote that they could shift some operations from London if the U.K. left the EU. HSBC would probably move about 1,000 investment bankers to Paris in the...
  • Maybe Janet Yellen Hasn't Changed, But We Have

    06/24/2016 4:04:42 AM PDT · by expat_panama · 11 replies
    Real Clear Markets ^ | June 24, 2016 | Jeffrey Snider
    Janet Yellen has been doing a lot of talking lately, with more and more attention paid to the words she says and the contexts in which she delivers them. Maybe, then, it just seems as if the Fed Chair is speaking more, since it may be just as likely that she isn't doing anything different and that it is us who have changed. The fact that the FOMC has failed to follow through but for that one time in December is very likely the cause. Two years ago, Yellen spoke a lot of words but they were familiar, unnoticeable noise...
  • Obama: UK-US Trade Deal Would Be Back Of Queue (arrogant oligarch Obama!)

    06/24/2016 3:13:23 AM PDT · by cotton1706 · 49 replies
    news.sky.com ^ | 4/22/16
    Barack Obama has said a trade deal between the UK and US would be at the "back of the queue" if the UK left the European Union. The President said a free trade arrangement would not happen "any time soon" in the event of Brexit. Speaking alongside Prime Minister David Cameron at the Foreign Office, he said: "I think it's fair to say that maybe some point down the line there might be a UK-US trade agreement. "But it's not going to happen any time soon because our focus is in negotiating with a big bloc, the European Union, to...
  • MARKET MELTDOWN £100billion wiped off FTSE 100 as within minutes as world markets go into freefall

    06/24/2016 2:51:23 AM PDT · by SkyPilot · 73 replies
    The Sun ^ | 24 Jun 16 | John Pettitt
    MORE than £100billion was wiped off the London FTSE 100 this morning within minutes and the value of the pound crumbled as world markets were gripped by Brexit panic. The City was facing its third biggest fall of all time, shedding 458 points in a massive selloff, with shares in Barclays and the Royal Bank of Scotland tumbling by around 30 per cent. Experts warned of more carnage to come with fear gripping world markets seeing Japan briefly shut down and European stock markets all in free fall. Britain also looked set to lose its triple-A rating after 52 per...
  • With Brexit locked in, here are other EU countries that poll high to 'exit'

    06/24/2016 1:52:59 AM PDT · by Leaning Right · 65 replies
    CNBC ^ | June 24, 2016 | Everett Rosenfeld
    A majority of British voters said Thursday that the United Kingdom should leave the European Union, launching markets into turmoil as investors tried to digest what the referendum means for the U.K. and the European bloc as a whole. Although concern for the future of the EU may seem like hyperbole, nearly every member state has a political contingent in favor of leaving the union, and the successful Brexit vote may have just politically legitimized — and energized — those movements.
  • This was the day the British people defied their jailers

    06/23/2016 10:57:57 PM PDT · by Hojczyk · 69 replies
    The Telegraph ^ | June 24,2016 | Tim Stanley
    Why did they do it? That, we’ll pick apart in the next few weeks. I think that Leave genuinely ran the better campaign, more hopeful and upbeat. Immigration mattered a great deal – although one YouGov poll ranked it third behind democracy and the economy. It’s possible that voters grasped the essential point about this referendum better than we the commentators did. It was a vote of confidence in Britain. Should we run our affairs or should we delegate it to foreign bureaucrats? When I was leaving my polling station, I said to a chap: “I found voting quite emotional.”...
  • Nation's largest banks all pass Fed's 'stress tests'

    06/23/2016 10:48:30 PM PDT · by Olog-hai · 7 replies
    Associated Press ^ | Jun 23, 2016 5:36 PM EDT | Ken Sweet
    The largest U.S. financial institutions have enough armor to withstand the turmoil of a major and prolonged national and global recession, the Federal Reserve said Thursday. The central bank’s annual “stress tests” show that the 33 largest financial institutions — including JPMorgan Chase, Citigroup, Bank of America and Wells Fargo — all hold more capital than at any time since the 2008 financial crisis. They also hold enough capital that, even if faced with billions of dollars in losses from loans as a result of an economic crisis, they would continue to function. The stress tests were created in the...
  • Brexit: Global markets stunned as UK is set to leave European Union

    06/23/2016 9:56:08 PM PDT · by NRx · 103 replies
    CNBC ^ | 06-24-2016 | Holly Ellyatt
    Markets around the world have been roiled by the shock result: In Japan the Nikkei 225 was down some 7.5 percentSterling has fallen 10 percent against the dollar and 3.35 percent against the euro.The prices of Brent and WTI have both dropped some 5.8 percent.The yield on the 10-year U.S. Treasury bond has fallen 12.5 percent.Dow futures now down 700 points
  • Sky News Declares Brexit A winner!!!

    06/23/2016 8:44:28 PM PDT · by CWW · 135 replies
    Sky News ^ | 06-23-2016 | Cww
    Sky news just declared victory for Brexit!!!!
  • Markets around the world start freaking out

    06/23/2016 8:22:28 PM PDT · by Berlin_Freeper · 93 replies
    cnn.com ^ | June 23, 2016 | CNN
    With investors on razor's edge, markets around the world turned sharply negative as initial results from the British referendum on European Union membership showed a nail-bitingly close vote. The pound plunged to its lowest level since 1985 as results gave a narrow lead to the Leave campaign. Amid volatile trading, the British currency sank below $1.35 after earlier touching $1.50.
  • Venezuela: Mass Famine Is Imminent as Neighbors, Washington Stand By (it's not about oil)

    06/23/2016 3:10:44 PM PDT · by Mrs. Don-o · 81 replies
    PanAmPost ^ | June 22, 2016 | PanAm Post Staf
    A humanitarian crisis, the likes of which have never been seen in the Western Hemisphere, is brewing in Venezuela and it will be inevitable in a few weeks. Much has been written recently about the crisis in Venezuela. During the last week, the world’s leading media outlets have amply reported the shortages of food, medicine and other basic supplies in the country. Unfortunately, despite some great reporting by various journalists, the true extent and the reasons for the country’s desperate situation have not yet been clearly understood by the media and the international community. The majority of those reporting on...
  • Garrett: Boeing deal with Iran proves crony capitalism is alive and well (Press Release)

    06/23/2016 1:31:36 PM PDT · by FreedomNotSafety · 7 replies
    House.Gov ^ | Scott Garrett
    WASHINGTON, D.C. – Rep. Scott Garrett (NJ-05) released the following statement in response to reports that Boeing has reached a multibillion-dollar deal to sell commercial passenger planes to Iran. Boeing is one of the largest beneficiaries of the Export-Import (Ex-Im) bank which perpetuates corporate welfare to mega corporations by handing out taxpayer-backed loans. "This agreement between Boeing and the world's largest state sponsor of terrorism is extremely troubling and shows that crony capitalism remains alive and well in Washington. Not only has Boeing lobbied for years to keep the taxpayer-backed Export Import bank alive, it now has also used its...
  • Jury Finds Led Zeppelin Did Not Steal Intro to Rock Epic 'Stairway to Heaven'

    06/23/2016 10:38:55 AM PDT · by Snickering Hound · 121 replies
    NBC News ^ | 6-23-2016
    A Los Angeles jury has decided the band Led Zeppelin did not steal the opening to its classic anthem "Stairway to Heaven."
  • What the next president's No.1 priority should be

    06/23/2016 9:42:05 AM PDT · by Tolerance Sucks Rocks · 39 replies
    CNBC ^ | June 20, 2016 | James Simons
    I recently had the privilege and the pleasure of delivering the commencement address at UC Berkeley's College of Engineering. In preparing I reflected on the sorry state of America's infrastructure and the role engineers and government can and should play in putting things back together. In my talk I pointed out that Congress is largely populated with trained lawyers, individuals who are schooled in the art of discourse, but unschooled in the art (and excitement) of creating and building. With 200 lawyers in Congress and only 8 engineers, it's clear that decisions to invest in our infrastructure are being managed...
  • State pension fund investment returns fall short ( Colorado )

    06/23/2016 7:18:08 AM PDT · by george76 · 14 replies
    Herald ^ | June 22, 2016 | Peter Marcus
    State Treasurer Walker Stapleton and PERA Executive Director Greg Smith disagree about how serious the disappointing 1.5 percent return on retirement investments the Public Employees’ Retirement Association fund for 2015 will be in meeting future pension obligations. ... State Treasurer Walker Stapleton said Tuesday’s announcement from the Public Employees’ Retirement Association is evidence of a mishandling by the board, in line with concerns he has raised for several years. ... Stapleton is outraged. For several years, the Republican has shouted for more conservative assumptions. He worries about long-term stability under a high projected rate of return. “PERA has assumed the...