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Latest Articles: Business/Finance
Paul Craig Roberts Poverty Report Contradicts GDP Claims
Post Date: 2014-10-04 02:14:26 by Horse
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It is amazing how the government manages to continue selling Brooklyn Bridges to a gullible public. Americans buy wars they don’t need and economic recoveries that do not exist. The best investment in America is a highly leveraged fund that invests only in large cap companies that are buying back their own stocks. Many of the firms repurchasing their stocks are borrowing in order to push up their stock prices, executive “performance bonuses,” and shareholders’ capital gains. The debt incurred will have to be serviced by future earnings. This is not a picture of capitalism that is driving the economy by investment. Neither is consumer spending driving the economy. The ...
Argentina's Christina Fernandez de Kirchner's UN Address
Post Date: 2014-10-03 06:46:41 by Stephen Lendman
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Argentina's Christina Fernandez de Kirchner's UN Address by Stephen Lendman Note: This article was intended for September 29. Illness intervened. It remains timely. As much now as then. Most UN addresses are bland. Few stand out. Fewer are remembered. Fewer still matter. Argentina's President de Kirchner shook things up and then some. Enough to get media scoundrels to bury her comments. They ignored her harsh criticism of US-led Western policies. Her address was wide ranging. She questioned Washington's motives for waging war. Targeted countries. Takfiri terrorists it supports. "Where do ISIS and Al Qaeda (get) their guns from," she asked? ...
Biggest bank in US hacked: JPMorgan admits data breach for 76 mn households
Post Date: 2014-10-03 00:08:39 by Tatarewicz
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RT... More than half of all households in the United States were affected by a data breach that occurred earlier this summer, JPMorgan Chase revealed on Thursday. The names, addresses, and numbers of millions of affected bank clients were stolen by hackers. The largest bank in the country said in a regulatory filing that 76 million households and seven million businesses had their data compromised – including names, email addresses, home addresses, and phone numbers. However, the bank said that all account holders’ money was safe, and that there is no evidence to suggest that even more sensitive information like Social Security numbers or passwords were stolen. So far, the ...
CIA Insider: "This Spooky New Money Will Replace the Dollar"
Post Date: 2014-10-01 16:26:49 by BTP Holdings
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CIA Insider: “This Spooky New Money Will Replace the Dollar” Dear Rude Awakening Reader, Last month, a man who works with the CIA knocked on my door. He said he had an urgent message for me… one that could only be delivered in person. So I rushed him into my private office. That's when he told me: "I fear the U.S. dollar may be replaced by a new kind of 'money' as early as March 2015." I didn't believe him at first. But then he showed me details of a shocking new plan to replace the dollar with a spooky new currency… A plan that was developed by a powerful group of 24 people who oversee the international monetary system. He wasn't ...
Ukraine Braces for a Winter Without Russian Gas
Post Date: 2014-10-01 04:06:36 by Tatarewicz
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The Atlantic Wire Days after an EU-brokered deal was set to give Ukrainians access to Russian gas for the winter, Ukraine is now balking at the price tag and preparing for the oncoming frost. The deal, the details of which were announced on Friday, required Ukraine to pay $3.1 billion to Russia by the end of the year. "In exchange," The Times explains, "Gazprom will ensure that at least 5 billion cubic meters of gas are supplied to Ukraine from October to March at the set price of $385 per 1,000 cubic meters, which must be prepaid before delivery." Despite the approach of the cold (and all those adages about the Russian Winter), Ukrainian officials are now saying ...
5 Ways to Trick Your Brain and Build Your Wealth
Post Date: 2014-09-30 17:37:55 by BTP Holdings
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5 Ways to Trick Your Brain and Build Your Wealth By Liz Weston September 30, 2014 Woman-laughing-on-sofa-during-therapy-session_webCredit iStock Understand the Psychology of Spending Sadly, our brains aren’t wired to make us rich. Thanks to evolutionary quirks in how we view the world and make decisions, behavioral economists tell us we often do exactly the wrong thing when it comes to money and accruing long-term wealth (such as with our savings accounts, our retirement accounts and sticking with budgets). Don’t despair, though. There are plenty of ways to either short-circuit our mental foibles or even use them to our advantage so we can still come out rich. Here are ...
MarketWatch's Reeves: Stocks Aren't in a Bubble
Post Date: 2014-09-30 17:24:02 by BTP Holdings
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MarketWatch's Reeves: Stocks Aren't in a Bubble Tuesday, 30 Sep 2014 07:20 AM By Dan Weil The S&P 500 has nearly tripled from its March 2009 low, and many experts now say the stock market is vastly overvalued. But MarketWatch columnist Jeff Reeves disagrees. He offers several reasons why: •Economic data is good. The economy is strong, growing 4.6 percent in the second quarter, and the unemployment rate registered 6.1 percent in August, its lowest since September 2008. •Skepticism is more prevalent than irrational exuberance is in the market. •"Valuations are fair," Reeves writes. The S&P 500's forward price-earnings ratio stood at 16.85 ...
The Goldman Tapes And Why The Delusion Of Macro-Prudential Regulation Means The Next Crash Is Nigh
Post Date: 2014-09-30 07:13:31 by Ada
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There is nothing like the release of secret tape recordings to clarify an inconclusive debate. I recall that happening with Nixon back in the day. Even as a Washington apprentice I could see that he was a ruthless, power hungry abuser of his office, but much of official Washington just denied it. Then came the tapes. Soon there was no doubt. In short order Nixon was gone. So now comes the Goldman tapes—-46 hours of recordings by an embedded New York Fed regulator at Goldman Sachs who got fired for attempting to, well, regulate. Would that the Carmen Segarra affair generates a Nixonian result—-that is, exposure that “regulatory capture” is an endemic, potent and ...
China starts direct yuan-Euro trade
Post Date: 2014-09-29 23:30:45 by Tatarewicz
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BEIJING, Sept. 29 (Xinhua) -- China's central bank has allowed the China Foreign Exchange Trading System to carry out direct trading of the yuan against the Euro, it announced on Monday. "Direct yuan-Euro trade is good for... reducing exchange costs for market players," the People's Bank of China (PBOC) said in a statement on its website. The PBOC vowed to give "active support" for yuan-Euro direct trading, saying it will help deepen bilateral economic and financial relationships. Earlier this year, China allowed direct domestic trading of the yuan against the British pound and New Zealand dollar to encourage such trading as it internationalizes the Chinese ...
BofA Merrill Lynch: The Four “Canaries in the Coalmine” Died. They Indicate “An Inflection Point,” As They Did In 2008 And 2011. Even Relentlessly Exuberant VCs Are Warning.
Post Date: 2014-09-29 19:28:49 by Horse
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On the Nasdaq and the New York Stock Exchange combined, 251 companies have gone public this year as of September 26, up 73% from last year. Their IPOs raised $77 billion, nearly double the amount raised last year at this time. It was the second largest amount in history, behind only the year when all IPO craziness came to a head and finally blew up, the infamous year 2000, which, for this period, clocked in at $84 billion. IPOs are risky. Especially those IPOs that are pushed out in all haste while the IPO “window” is open, and the window stays open only a short while. For early investors, such as venture capital funds, it’s the moment to exit and take their cash and run. ...
Russia oil chief says sanctions no bar to developing Arctic find
Post Date: 2014-09-29 07:01:27 by Tatarewicz
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Bloomberg, The most powerful man in Russia’s oil industry says U.S. sanctions won’t prevent the development of discoveries in the Arctic Ocean. Igor Sechin, chief executive officer of state oil producer OAO Rosneft and a long-time ally of President Vladimir Putin, spent two days traveling by plane, ship and helicopter last week to announce a billion-barrel crude strike in the iceberg-prone Kara Sea region of Russia’s Arctic Ocean. “We will continue working no matter what,” Sechin said in an interview on board a polar research vessel as he prepared to unveil the find he named Victory. “We will plan the work for next season. As I said, now we’ve drilled ...
German opposition clouds Friday’s ceremonies for Canada-EU trade pact Add to ...
Post Date: 2014-09-27 02:45:12 by Tatarewicz
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OTTAWA — The Globe and Mail Just hours before Canada and the European Union released the long-awaited final text of a free trade pact, German officials visiting Ottawa delivered a blunt and unwelcome message: The deal must be changed. In an exclusive interview with The Globe and Mail in Ottawa, senior German official Uwe Beckmeyer said sections of the deal allowing private companies to sue governments – known as investor-state provisions – must be changed before Germany will support the Comprehensive Economic and Trade Agreement (CETA). EU must allay fears about free trade with Canada, Danish minister says Mr. Beckmeyer, who is Parliamentary State Secretary for ...
UT's Auerbach: Fed Has Created a $2.7 Trillion Time Bomb
Post Date: 2014-09-25 16:54:18 by BTP Holdings
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UT's Auerbach: Fed Has Created a $2.7 Trillion Time Bomb Thursday, 25 Sep 2014 08:04 AM By Michael Kling The Federal Reserve has built a $2.7 trillion time bomb that will cause economic mayhem if not carefully diffused, says Robert Auerbach, a professor of public affairs at the University of Texas at Austin. Although the Fed has pumped trillions of dollars into the economy since 2008, most of it has remained idle in the form of private bank's excess reserves it continues to hold, he writes in an article for The Huffington Post. Excess reserves exploded under the former Fed Chairman Ben Bernanke and have continued soaring under current Chair Janet Yellen, from $1.6 billion in ...
Dongfeng Nissan launches first electric car
Post Date: 2014-09-24 23:21:21 by Tatarewicz
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] DALIAN, Sept. 24 (Xinhua) -- Dongfeng Nissan Passenger Vehicle Company, a joint venture between Japanese automaker Nissan and its Chinese counterpart Dongfeng Motors Corporation, launched its first electric car in the northeastern city of Dalian on Wednesday. The pure-electric vehicle model, e30, from its local Venucia brand in China, was put on sale at a price starting from 267,800 yuan (43,545 U.S. dollars). With a 47,500-yuan subsidy from the central government and a 100,000-yuan subsidy from the Dalian municipal government, local residents can buy the car for 120,000 yuan. The vehicle has a maximum speed of 144 km per hour and a range of 175 km per charge. Customers who buy the ...
Hussman: The US Economy Is Becoming a Ponzi Scheme
Post Date: 2014-09-24 17:17:09 by BTP Holdings
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Hussman: The US Economy Is Becoming a Ponzi Scheme Wednesday, 24 Sep 2014 07:01 AM By John Morgan The United States has evolved into a nation with a Ponzi economy, in which the continuous expansion of debt is the only thing that keeps prosperity alive, according to Federal Reserve critic John Hussman. In his weekly commentary, Hussman, founder of the eponymous Hussman Funds family of mutual funds, said the U.S. economy appears fine on the surface, but that capital accumulation and labor force participation have buckled below – with dire prospects for the American future. "Over time, growth in the standard of living is chained to and limited by growth in productivity," ...
12YO Explains Fiat Banking
Post Date: 2014-09-24 13:28:29 by Lod
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Board of Directors Head: Aeroflot to Privatize 10% of Shares in 2014
Post Date: 2014-09-20 06:51:44 by Tatarewicz
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Aeroflot shares will be issued to the Russian stock market. SOCHI, September 20 (RIA Novosti) – Kirill Androsov, the chairman of the board of directors in Russian carrier Aeroflot, deems it appropriate to privatize some 10 percent of the company's shares via Moscow stock exchange. "We will try to do it this year. As the chairman of the board of directors, I will do my best. … The market will hardly be interested in a deal worth less than $150 million. With the current Aerofolot's capitalization standing at $1.5 billion, we need to sell about 10 percent of shares," Androsov told journalists at an economic forum in Sochi. "Now, as part of the ...
Alibaba shares close at 93.89 USD, surging 38 pct on first trading day
Post Date: 2014-09-20 02:33:58 by Tatarewicz
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NEW YORK, Sept. 19 (Xinhua) -- China's e-commerce giant Alibaba Group Holding Limited Friday ended its first day of trading at 93. 89 U.S. dollars a piece, surging 38 percent following a record initial public offering on the New York Stock Exchange (NYSE). Alibaba shares opened more than two hours after the opening bell at 92.70 dollars per share, 36 percent higher than its initial public offering (IPO) price of 68 dollar set Thursday. The company's shares popped to a session high of 99.70 dollars apiece shortly after it opened for trading, and were mostly traded between the range of 90 dollars and 100 dollars. After trading for the first day, the company's market capital ...
Gasoline prices 9/19/2014
Post Date: 2014-09-19 19:55:37 by X-15
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North Texas: $2.99/gallon
Canada quietly cancels sanctions against two Russian banks
Post Date: 2014-09-19 05:59:10 by Tatarewicz
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RT... Canada has canceled sanctions against two small Russian banks, Expobank and RosEnergoBank, the country’s Foreign Affairs Minister John Baird confirmed on Thursday. The sanctions were dropped quietly on Tuesday, at the same time that Canada rolled out new sanctions against Russia. After being asked why the sanctions were withdrawn at the House of Commons, Baird explained that the government received new information that influenced its decision. "They [the banks] are deemed to be sufficiently divorced from events in Ukraine and Russian aggression against Ukraine," he said, without elaborating why they were put on the sanctions list in the first place. The sanctions ...
Money in anti-corrosion innovation?
Post Date: 2014-09-19 05:40:30 by Tatarewicz
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Nick Hodge consistently finds and recommends (and, at least indirectly, promotes) little tiny companies with cool-sounding and important-sounding technologies for his Early Advantage newsletter. And Angel Publishing teases and advertises his stuff more aggressively than some publishers, so I get asked about it all the time. These stocks are too small to absorb a lot of new shareholders without going crazy, so they often are quite volatile when they get some newsletter attention (or even attention from our small group here), rising and falling more because of the new investor attention they receive than because of any actual business performance. So that’s your up-front caveat, before ...
Finland's largest waste-to-energy plant starts operation
Post Date: 2014-09-18 00:37:55 by Tatarewicz
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HELSINKI, Sept. 17 (Xinhua) -- Finnish energy company Vantaa Energy announced on Wednesday that its new waste-to-energy plant has started to go into operation in Vantaa, a city next to the capital Helsinki. The plant is believed Finland's biggest of its kind, as it is capable to produce 920 GWh of heat and 600 GWh of electricity each year by burning mixed waste collected from Uusimaa, a region that includes Helsinki and the surrounding areas. The plant will produce half of the district heating and 30 percent of the electricity needed in Vantaa. About 320,000 tons of waste will be processed in the plant every year. The waste will be combusted with grate-fired technology, which is a ...
Brookings Institution's Wessel: 'We May Be on Verge' of Currency War
Post Date: 2014-09-17 17:03:27 by BTP Holdings
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Brookings Institution's Wessel: 'We May Be on Verge' of Currency War Wednesday, 17 Sep 2014 07:57 AM By Dan Weil The global economy "may be on the verge" of a currency war, as the Bank of Japan and European Central Bank (ECB) ease policy vigorously to stimulate their moribund economies, says David Wessel, director of the Brookings Institution's Center on Fiscal & Monetary Policy. Countries seek to depress their currencies to boost exports. A weaker currency makes a country's exports cheaper in foreign currency terms. "Japan has already managed to depreciate its currency," Wessel writes in The Wall Street Journal. The dollar hit an almost ...
Peoples' Republic of Luhansk to build electric power line from Russia
Post Date: 2014-09-16 00:52:20 by Tatarewicz
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Pravda.Ru The authorities of the self-proclaimed People's Republic of Luhansk plan to build a power line from Russia within two months to supply electricity to Luhansk. According to the head of the republic, Igor Plotnitsky, a corresponding project has been developed, RIA Novosti reports. "There have conducted talks before, and now we proceed to a more serious stage. We will rebuild and build a new line between the Russian Federation and the People's Republic of Luhansk to receive extra electricity," said Plotnitsky. According to him, all necessary calculations for the construction of еру line have already been made. The line will consist of both newly ...
We're Number 32!
Post Date: 2014-09-15 19:21:22 by Ada
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A new global index highlights the harm from the U.S. tax code. Any day now the White House and Sen. Charles Schumer (D., N.Y.) will attempt to raise taxes on business, while making the U.S. tax code even more complex. The Obama and Schumer plans to punish businesses for moving their legal domicile overseas will arrive even as a new international ranking shows that the U.S. tax burden on business is close to the worst in the industrialized world. Way to go, Washington. Opinion Video Editorial Page Editor Paul Gigot takes a look at America's tax competitiveness in comparison to the rest of the world. Photo credit: Getty Images. On Monday the Tax Foundation, which manages the widely ...
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