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Latest Articles: Business/Finance
How Junk Economists Help The Rich Impoverish The Working Class
Post Date: 2014-01-29 07:27:00 by Ada
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Last week, I explained how economists and policymakers destroyed our economy for the sake of short-term corporate profits from jobs offshoring and financial deregulation. www.paulcraigroberts.org/...ts-policymakers-murdered- economy-paul-craig-roberts/ That same week Business Week published an article, “Factory Jobs Are Gone. Get Over It,” by Charles Kenny. www.businessweek.com/articles/2014-01- 23/manufacturing-jobs-may-not-be-cure-for-unemployment-inequality Kenny expresses the view of establishment economists, such as Brookings Institute economist Justin Wolfers who wants to know “What’s with the political fetish for manufacturing? Are factories really so ...
Happy Times On Easy Street (HTOES)
Post Date: 2014-01-29 07:13:40 by Ada
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I was more dyspeptic than usual that morning at breakfast, the latest disappointment being my latest and greatest Fabulous Mogambo Plan (FMP) to make a few bucks that popped (“boing!”) into my head as I woke up, namely hooking up generators to the kids’ bicycles and let them merrily pedal away all day in the garage, generating electricity, so that I could sell the excess power to the local grid and make a few bucks, or at least reduce my electric bill somewhat. Alas, my enthusiasm was soon dampened by remembering the laws of physics, which is not to mention those pesky “child labor” laws that have been the Achilles heel of many a former FMP. And perhaps it was ...
John Nyaradi: Stocks May Drop Almost 50 Percent
Post Date: 2014-01-28 20:45:39 by BTP Holdings
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John Nyaradi: Stocks May Drop Almost 50 Percent Monday, 27 Jan 2014 09:34 AM By Dan Weil The stock market is poised for a hefty fall, based on price-earnings (P/E) valuations, says John Nyaradi, publisher of Wall Street Sector Selector. For example, Robert Shiller's cyclically adjusted P/E (CAPE) ratio, which utilizes 10 years of earnings, stands at 25.4. A correction back to the 12.5 level of the late 1980s would put the Standard & Poor's 500 Index at 919, Nyaradi writes in an article for MarketWatch. That represents a 49 percent plunge from Friday's closing price of 1,790. Alternatively, if the P/E ratio using trailing 12 months' earnings slid from its current ...
What Do We Have To Show for 42 Years of Funny-Money?
Post Date: 2014-01-27 18:01:23 by BTP Holdings
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What Do We Have To Show for 42 Years of Funny-Money? by Nathan Lewis Nicholas Copernicus (1473-1543) is known today as the "Earth goes around the sun guy," but he also advised the Royal Prussian parliament on monetary reform over a period of several years. During this time, he wrote an essay known as the Treatise on Money. A new translation of Copernicus' essay by Gerald Malsbary has recently been released via Laissez Faire Books. The book has many gems — things so simple and obvious that they have been forgotten by the majority of academic economists today, with the usual bad consequences. "Money, or coinage, is gold or silver that has been specially marked ...
Fighting Telemarketers: When Do-Not-Call List Fails, These Strategies Work
Post Date: 2014-01-26 19:04:57 by scrapper2
6 Comments
If you thought the creation of the "Do Not Call Registry" had solved the problem of telemarketers bombarding people with unwanted calls, think again. Complaints about telemarketers have continued to climb since the Federal Trade Commission established the registry 2003. They now stand at an all time high -- almost 4 million in 2012 -- according to the FTC. What can you do to fight back? Plenty, say experts: You can use new technology that detects and deflects telemarketing calls automatically. You can deliberately drive telemarketers nuts. Or you can do both. Intrusive calls fall into two categories. The first are calls from legitimate telemarketers, in which the pitch comes ...
Prove it: Bank blocking some customers from making large withdrawals without ‘evidence’ of spending need
Post Date: 2014-01-26 15:16:56 by scrapper2
5 Comments
If you bank at HSBC in England, don’t plan on making any large cash withdrawals. At least not without a good explanation. Or, maybe even a permission slip. That’s because a previously unannounced change in banking policy is blocking some customers from making large withdrawals without “evidence” explaining why they need the money from their accounts. The policy affects customers attempting withdrawals for amounts as little as £5,000 ($8,253). HSBC says it’s all done in the name of customer protection. "The reason being we have an obligation to protect our customers, and to minimize the opportunity for financial crime,” HSBC said in a statement. ...
Nobel Winner Robert Shiller: Whistling Past the Graveyard With Stocks
Post Date: 2014-01-26 13:02:55 by BTP Holdings
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Nobel Winner Robert Shiller: Whistling Past the Graveyard With Stocks Thursday, 23 Jan 2014 07:16 AM By John Morgan Nobel prize-winning economist Robert Shiller said he is still investing in the stock market despite warning recently of bubble-like conditions that he viewed as especially worrisome in U.S. stocks. In an interview with CNBC, the Yale economist demonstrated that even distinguished experts can be uncertain when it comes to what direction equities are headed at a given time. On the one hand, he said that his proprietary long-term valuation metric for stock markets, which measures earnings based on inflation-adjusted results over 10 years, stands at 25 — high, but still ...
Tesla announces aggressive Model S pricing for Chinese market
Post Date: 2014-01-24 04:05:31 by Tatarewicz
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Most cars exported to China end up with a hugely inflated price tag – often hovering around twice as much as what we'd expect to pay in the United States. Part of that can be chalked up to duties and taxes – which can be quite prohibitive in the People's Republic – but a big part of it comes down to profitability. Tesla, however, is committed to doing things differently. While some sources were expecting the Model S to carry a price tag in China more than double that of the US model, Tesla has announced a far lower MSRP for the Chinese market than that. Instead it will sell the Model S for 734,000 yuan – equivalent to $121,000 at today's exchange rates. ...
Get it before you buy it: Amazon patents 'anticipatory package shipping'
Post Date: 2014-01-19 03:02:22 by Tatarewicz
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RT... Retail giant Amazon is revolutionizing the way online purchases are made, with a new patent scheme that would see items shipped out, before the customer buys them. On Christmas eve, Amazon patented the “anticipatory package shipping” process which is expected to expedite shipments through sending specific items to distribution centers near those customers who the company expects to buy them in the near future. The destination will be based on a number of “business variables”, including customer’s purchase history, wish lists, saved searches, and general search data. The patent anticipates the new delivery system in the following way: Firstly one or more ...
Hows and whys of gold price manipulation
Post Date: 2014-01-18 21:34:00 by Tatarewicz
1 Comments
Home > The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new money by the Federal Reserve in order to support through the policy of Quantitative Easing the prices of financial instruments on the banks’ balance sheets and in order to finance at low interest rates trillion dollar federal budget deficits associated with the long recession caused by the financial crisis. ...
American Parasites
Post Date: 2014-01-18 14:41:56 by BTP Holdings
9 Comments
The Droning Double Standard in Congress Dear Laissez Faire Today Reader, Imagine coming home from a long day at work. You're tired and you just want to spend some time with your family. Maybe sit down for a nice dinner in peace. But before you can relax, you notice a strange noise coming from outside your window. You take a peek outside and notice something extremely disturbing. It's an unmanned aerial vehicle. A UAV. Or, as it's commonly called in the news, a drone. This might sound like the opening chapter of some science fiction novel, but for one woman, this was reality. And that woman was one of the most powerful in the country: Sen. Barbara Feinstein. And in a recent ...
Google Is the Best Company to Work For, “Fortune” Says
Post Date: 2014-01-17 02:53:51 by Tatarewicz
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ABC Digital...(NEW YORK) -- Fortune is out with its annual list of the best companies to work for, and the name at the top is a familiar one. Google has been awarded the number one spot on Fortune's list for the third straight year. It's the fifth time the tech giant has earned the list's top ranking, and the eighth time the company has appeared on the list. “It’s not all that surprising,” said Jeff Macke of Yahoo Finance. “They have more cash than they know what to do with,” and Google is using that cash not only to recruit the “brightest and best to work there,” but to keep their employees happy, Macke continued. Here are the top ten ...
5 Alternative Cryptocurrencies That Could One Day Rival Bitcoin
Post Date: 2014-01-16 18:30:01 by BTP Holdings
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5 Alternative Cryptocurrencies That Could One Day Rival Bitcoin by Edward Schaefer 2013 has been quite the year for Bitcoin. We have seen exponential growth in Bitcoin's exchange rate and extensive coverage in the media. Another phenomenon we have witnessed this year is the proliferation of alternative cryptocurrencies, five of which we've provided below. What all of these cryptocurrencies have in common is that they rely on a decentralized network to keep track of transactions, and their scarcity and security is based on cryptography. Note: All figures from coinmarketcap.com. Litecoin Price: $25.26 Market Capitalization: $600 million Of all the competing cryptocurrencies, ...
Truth about the middle east and israel
Post Date: 2014-01-14 08:33:13 by Itistoolate
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Darkening clouds threaten Trans-Pacific Partnership deal
Post Date: 2014-01-12 12:20:17 by X-15
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The Trans-Pacific Partnership (or TPP) trade negotiations, the biggest floating trade game on the planet, will be re-engaging in earnest this year, having missed their 2013 deadline, an impossible goal to begin with. A lot is at stake. Should the talks succeed, Canada and all TPP participants will gain from the effects of reduced barriers and other market-opening measures, especially for services and investments. But there are dark clouds that threaten this deal, whether in 2014 or later. The long-delayed fast-track bill was introduced in both the Senate and House of Representatives on Thursday, but indications are that its passage will be held up by partisan wrangling, hostage to the ...
Robert Rubin: Fed's QE3 and the Unwinding of it Carry Great Risk
Post Date: 2014-01-11 17:32:15 by BTP Holdings
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Robert Rubin: Fed's QE3 and the Unwinding of it Carry Great Risk Friday, 10 Jan 2014 07:31 AM By Dan Weil Both the Federal Reserve's latest quantitative easing effort (QE3) and the effort to reverse it raise dangers for the economy and the financial system, says former Treasury Secretary Robert Rubin. The Fed has started to taper QE3, deciding last month to cut its bond purchases by $10 billion a month, leaving them at $75 billion. "There are widely posed questions about the benefits of QE3, but the risks are significant," Rubin writes in the Financial Times. Editor’s Note: Get These 4 Stocks Before 399% Stock Market Rally! "One is that central bank ...
Banks Know About Your Strawman (Here's Some Proof)
Post Date: 2014-01-11 12:49:53 by Itistoolate
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Banks Know About Your Strawman (Here's Some Proof)
Obama nominates former governor of Bank of Israel as Fed vice chairman
Post Date: 2014-01-10 22:39:15 by Tatarewicz
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WASHINGTON, Jan. 10 (Xinhua) -- U.S. President Barack Obama on Friday nominated Stanley Fischer, the former governor of the Bank of Israel, as vice chairman of the Federal Reserve, the latest move to reshape the seven-member Fed Board. If confirmed by the U.S. Senate, Fischer will succeed the Fed's vice chair Janet Yellen, who will replace Fed chairman Ben Bernanke to take the helm of the central bank in February. Fischer "is widely acknowledged as one of the world's leading and most experienced economic policy minds and I'm grateful he has agreed to take on this new role and I am confident that he and Janet Yellen will make a great team", Obama said in a statement. ...
Target: Data Breach Affected 70 Million Customers
Post Date: 2014-01-10 18:36:58 by BTP Holdings
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Target: Data Breach Affected 70 Million Customers Friday, 10 Jan 2014 08:29 AM Target said Friday that personal information — including phone numbers and email and mailing addresses — was stolen from as many as 70 million customers in its pre-Christmas data breach. That was substantially more customers than Target had previously said were affected. The chain also indicated its sales have been hurt by the breach, cutting its forecast for fourth-quarter earnings and a key sales barometer. Its stock slipped in premarket trading. Target Corp. announced in December that about 40 million credit and debit cards may have been affected by a data breach that happened between Nov. 27 ...
I know the problem by Bix Weir
Post Date: 2014-01-10 10:01:15 by christine
1 Comments
I know the problem.I know the fix. The problem and the fix to EVERYTHING can EACH be summed up in 6 words. The problem: We are all living a lie. The fix: The truth shall set us free. It's that simple but yet that difficult for everybody trying to tackle "The Problem". ...The long term implementation of the computer rigging programs is designed to prolong the un-backed fiat monetary system. It has destroyed the entire concept of "free markets" and perverted our entire global monetary system beyond repair. It is the Big Lie. Of course it is just one of the Big Lies. Everything we have been taught is a lie from the history of mankind to the value of money to ...
Dimwitted yet Greedy: A Recipe for Success
Post Date: 2014-01-10 07:46:08 by Ada
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Unfortunately, angry dimwits like me don’t make a lot of money with which to invest and be successful, all because the world is conspiring against us, everybody hates us, and we have crappy jobs. This does not mean that we are not also out to make a quick mega-fortune without working, so as to immediately retire to a long, glorious life of gluttonous-yet-overindulgent eccentricity. So the task of learning to invest wisely the little money we make seems monumentally difficult. Stocks? Bonds? Cash? Who? What? Huh? Admittedly, the seemingly Herculean task of understanding economics is made slightly more palatable by knowing that reading one book, namely Hazlitt’s Economics in One ...
Jim Rogers: The Federal Reserve's Days Are Numbered
Post Date: 2014-01-08 21:12:47 by BTP Holdings
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Jim Rogers: The Federal Reserve's Days Are Numbered Monday, 06 Jan 2014 07:58 PM By John Morgan Noted investor Jim Rogers says outgoing Federal Reserve Chairman Ben Bernanke has set the stage for the collapse of the U.S. central bank within the next decade, and has turned the nation's fiscal balance sheet into "garbage." In a recent interview with the British financial website Mineweb, Rogers said Bernanke and his fellow central bankers in other countries have brought the global economy to the brink of disaster. “One hundred years ago you could not have named the head of most central banks in the world,” Rogers said. “Now they're all rock ...
Yes Mr. President, you will negotiate the debt ceiling increase!
Post Date: 2014-01-07 08:03:55 by BTP Holdings
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Yes Mr. President, you will negotiate the debt ceiling increase! By Michael Busler Monday, January 06, 2014 At a recent press conference, President Obama was asked about the upcoming battle with Congress to raise the debt ceiling. He responded by again saying that he refuses to negotiate on the debt ceiling because we must agree to pay the bills that we have already incurred. His refusal to negotiate will be a problem in February and he is simply wrong to take that position. Why? It is true that we must pay our bills. But like any fiscally responsible entity, before agreeing to assume more debt, Congress simply wants some assurances that this pattern of spending significantly more than ...
Thousands of visitors to yahoo.com hit with malware attack, researchers say
Post Date: 2014-01-06 09:23:15 by Ada
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Two Internet security firms have reported that Yahoo's advertising servers have been distributing malware to hundreds of thousands of users over the last few days. The attack appears to be the work of malicious parties who have hijacked Yahoo's advertising network for their own ends. Fox IT, a security firm based in the Netherlands, wrote a blog post on Friday describing the problem. "Clients visiting yahoo.com received advertisements served by ads.yahoo.com. Some of the advertisements are malicious," the firm reported. Instead of serving ordinary ads, the Yahoo's servers reportedly sends users an "exploit kit" that "exploits vulnerabilities in Java ...
The Long and Short of Gold Investing
Post Date: 2014-01-05 18:25:05 by X-15
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There are two types of gold investors: those trying to make money on short-term market timing and those looking for long-term asset preservation. It was the fear-driven trading of the former that helped gold break $1900 in 2011, and for good reason - stormy markets steer investors to safe havens. But gold's fortune has shifted in the past two years, and finishing 2013 down 28% seems to have sealed its fate - at least in the eyes of the short-term speculators. In reality, the same forces that are stabilizing stocks and suppressing gold are also the fundamental reasons long-term investors have been buying gold since the turn of the new millennium. The so-called recovery we're now ...
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