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Latest Articles: Business/Finance
Two Economic Myths About Paper Money
Post Date: 2013-11-26 18:20:36 by BTP Holdings
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Two Economic Myths About Paper Money by Dr. Ron Paul One economic myth is that paper money is wealth. The proponents of big government oppose honest money for a very specific reason. Inflation, the creation of new money, is used to finance government programs not generally endorsed by the producing members of society. It is a deceptive tool whereby a "tax" is levied without the people as a whole being aware of it. Since the recipients of the newly created money, as well as the politicians, whose only concern is the next election, benefit from this practice, it's in their interest to perpetuate it. For this reason, misconceptions are promulgated about the "merits" ...
New York Weighs Costs of Banning vs. Recycling Styrofoam
Post Date: 2013-11-26 06:58:10 by Tatarewicz
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NEW YORK—Legislation that would ban foam containers in the city now offers a compromise to its opponents—a year to prove whether recycling is viable. The revised bill would give the city’s sanitation commissioner until Jan. 1, 2015, to determine whether expanded polystyrene (EPS), commonly known under the brand name of Styrofoam, is recyclable. If Styrofoam is deemed unrecyclable, it will be banned in all city food service establishments on July 1, 2015. Council member Lewis Fidler introduced the bill at the request of Mayor Michael Bloomberg, who mentioned banning Styrofoam in his State of the City speech in February, saying that Styrofoam is “something that we know ...
Yellen Needs Rules as She Takes Over the Fed
Post Date: 2013-11-25 21:28:41 by BTP Holdings
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Yellen Needs Rules as She Takes Over the Fed Friday, 22 Nov 2013 05:53 PM By Larry Kudlow The greatest central banker in my professional lifetime was Paul Volcker. His signal achievement was bringing down the inflation rate from roughly 15 percent to about 3 percent more than three decades ago. The simplest way to look at the economic evils of runaway prices is to think of inflation as a tax hike — on consumers, savers, investors, corporate profits, capital gains, and so on. One humongous tax hike. And it was the myriad tax-hike effects of high inflation that wrecked the American economy in the 1970s. But Volcker turned that around, and he did so using a rules-based approach to ...
China, Hungary, Serbia reach agreement on railway project
Post Date: 2013-11-25 19:47:26 by Tatarewicz
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BUCHAREST, Nov. 25 (Xinhua) -- Chinese Premier Li Keqiang said here Monday that his country has reached an agreement with Hungary and Serbia to jointly build a railway between the latter two countries. Speaking at a joint press conference with his Hungarian and Serbian counterparts, Viktor Orban and Ivica Dacic, Li hailed the project as a landmark in cooperation between China and Central and Eastern European (CEE) countries. The three sides, added the Chinese premier, will set up working groups immediately and advance the project with high quality as rapidly as possible for the benefit of passengers and cargo transporters. "China has made rapid progress in railway construction ...
Hybrid Tech takes over bankrupt Fisker electric car
Post Date: 2013-11-25 04:30:37 by Tatarewicz
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Washington (AFP) - Fisker Automotive, whose sleek, sporty electric cars caught the eye of Justin Bieber and other celebrities, has filed for bankruptcy protection. The California-based company also announced it had entered an asset purchase agreement with Hybrid Tech Holdings, LLC. "After having evaluated and pursued all other alternatives, we believe the sale to Hybrid and the related Chapter 11 process is the best alternative for maximizing Fisker Automotive's value for the benefit of all stakeholders," Marc Beilinson, Fisker's chief restructuring officer, said in a statement Friday. "We believe that the Fisker Automotive technology and product development ...
Chinese aircraft company opens first subsidiary overseas
Post Date: 2013-11-25 00:09:23 by Tatarewicz
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LOS ANGELES, Nov. 23 (Xinhua) -- The Commercial Aircraft Corporation of China (COMAC) on Saturday opened its first wholly-owned overseas subsidiary in the city of Newport Beach, South California in the United States. The COMAC America Corporation aims to further COMAC's relationship with local civil aviation authorities, aerospace companies and academic institutions, mainly in areas such as airworthiness certification, civil aircraft development and educational training, said Jin Zhuanglong, chairman of the COMAC. "Chinese civil aviation market is the No.1 booming market...The fast-growing Chinese civil aviation industry is now becoming an indispensable force to world aerospace ...
Sinopec shares tumble after deadly oil pipeline blast
Post Date: 2013-11-24 23:55:51 by Tatarewicz
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BEIJING, Nov. 25 (Xinhua) -- Shares of Sinopec, China's top refiner listed in both Shanghai and Hong Kong, opened to tumble on Monday following Friday's deadly oil pipeline blasts in east China's Shandong Province. A-share of Sinopec in Shanghai opened at 4.85 yuan (79 U.S. cents) per share, down 3.96 percent from Friday's closing price. H-share of Sinopec opened at 6.8 HK dollars (87 U.S. cents), down nearly 3 percent from Friday's closing. Death toll from Friday's Sinopec oil pipeline blasts rose to 52 as of 1 p.m. Sunday after four bodies were found at the scene, rescuers said. Reports and investigations showed that 11 others were missing in the deadly ...
Profound Cosmic Wisdom (PCW) Revealed
Post Date: 2013-11-22 07:56:47 by Ada
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Gearing up for Thanksgiving dinner, I am not going to be caught interpersonally unprepared this year, and am compiling some handy notes that I can use in the inevitable awkward family conversations, such as somebody remarking “Boy! There are some good smells coming out of the kitchen!” This year I can keep the conversation ball rolling along by instantly having a clever comment at hand, such as “Yeah! Much nicer than the foul, stinking stench coming out of a corrupt, brain-dead Washington, which is, of course not coincidentally, where the evil Federal Reserve is located, which has been at the forefront of ‘corrupt and brain-dead’ for most of the last ...
Guangzhou int'l car show kicks off
Post Date: 2013-11-22 02:18:03 by Tatarewicz
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GUANGZHOU, Nov. 22 (Xinhua) -- More than 60 new models of cars are being showcased at the 11th Guangzhou International Automobile Exhibition, which opened on Friday in the south China city of Guangzhou. As one of the country's three major car shows, the exhibition covers 200,000 square meters with more than 900 vehicles on display, according to the organizers. Foreign high-end brands, such as Lotus from Britain, Koenigsegg from Sweden and Bugatti from France, are exhibiting for the first time. The event will last nine days. In addition to the show, a dealer service exhibition has been organized, which focuses on post-sales, such as finance, insurance, maintenance and sales.
The U.S. central bank's easy monetary policies should remain for an extended time-Bernanke
Post Date: 2013-11-20 03:41:54 by Tatarewicz
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WASHINGTON, Nov. 19 (Xinhua) -- The U.S. central bank's easy monetary policies should remain for an extended time to support economic growth and job creation, Federal Reserve Chairman Ben Bernanke said Tuesday. "The economy has made significant progress since the depth of the recession. However, we are still far from where we would like to be, and, consequently, it may be some time before monetary policy returns to more normal settings," Bernanke said in a speech during the National Economists Club Annual Dinner in Washington, D.C.. "The surest path to a more normal approach to monetary policy is to do all we can today to promote a more robust recovery," he said ...
Capital gains: Spending on contracts and lobbying propels a wave of new wealth in D .C.
Post Date: 2013-11-19 13:56:36 by X-15
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So much money to be had if you know where to look. The avalanche of cash that made Washington rich in the last decade has transformed the culture of a once staid capital and created a new wave of well-heeled insiders. The winners in the new Washington are not just the former senators, party consiglieri and four-star generals who have always profited from their connections. Now they are also the former bureaucrats, accountants and staff officers for whom unimagined riches are suddenly possible. They are the entrepreneurs attracted to the capital by its aura of prosperity and its super-educated workforce. They are the lawyers, lobbyists and executives who work for companies that barely had ...
Walmart holds food drive for its needy workers
Post Date: 2013-11-19 08:51:49 by Dakmar
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CANTON, Ohio - One Walmart store is holding a food drive for its needy workers who are going through "unforeseen hardships." A labor group that has proposed for Walmart to unionize its employees posted a photo online of several large plastic bins with a sign that read: "Please donate food items here so associates in need can enjoy Thanksgiving dinner." Kory Lundberg, a spokesman for Walmart, said the Canton, Ohio, store of about 300 employees has been hosting a holiday food drive for a few years. "Quite frankly, a lot of people in that store are frustrated and offended that this is reported in a way besides other folks rallying around each other," Lundberg ...
Dow Hits 16,000 for First Time, S&P 500 Hits 1,800
Post Date: 2013-11-18 17:15:15 by BTP Holdings
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Dow Hits 16,000 for First Time, S&P 500 Hits 1,800 Monday, 18 Nov 2013 02:12 PM The stock market broke through two milestones Monday as a historic rally pushes stocks further into record territory. The Dow Jones Industrial Average topped 16,000 for the first time and the Standard & Poor's 500 index pierced 1,800. Both indexes are on track for their best year in a decade, and have soared more than 140 percent since hitting a Great Recession low more than five years ago. Investors are pushing stocks up sharply this year as the U.S. economy improves, companies report record profits and the Federal Reserve keeps up its easy-money policies. "The Fed is still pumping money ...
US dollar should be banned in Russia, MP says
Post Date: 2013-11-14 23:22:42 by Tatarewicz
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Pravda.Ru A deputy from the Liberal Democratic Party, Mikhail Degtyarev, submitted a bill providing for the termination of the U.S. currency circulation on the territory of Russia. According to the MP, the countries that still have the dollar dependence may suffer from the U.S. financial crisis. The bill will allow the holders of the U.S. currency to either spend it the way they want to or exchange it for rubles. If the currency is stored in banks and the account holder does not take any action within the time limit, banks will be allowed to sell dollars at the exchange rate of the ruble and return the money to the client. As the former chairman of the Russian Central Bank, Viktor ...
Bangladesh workers stop their strike after monthly salary raised to $68
Post Date: 2013-11-14 23:09:06 by Tatarewicz
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Pravda.Ru About 250 garment factories in Bangladesh reopened after a meeting with the Prime Minister of the country, Sheikh Hasina. Factory workers went on strike demanding a raise of minimum salary up to $100 a month, while the previous figure was $40. As a result of negotiations and government recommendations, factory owners agreed to raise people's wages by 77 percent - to $68 a month. Workers will start to receive new wages from December 1 2013, Labor Minister of Bangladesh Rajiuddin Ahmed Raju said.
Action alert: Just 2 days left to help stop the FDA's regulatory war on small, local farmers
Post Date: 2013-11-14 08:03:27 by BTP Holdings
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Action alert: Just 2 days left to help stop the FDA's regulatory war on small, local farmers Thursday, November 14, 2013 by Mike Adams, the Health Ranger Editor of NaturalNews.com (See all articles...) (NaturalNews) There are only two days left to post your comments to the FDA concerning the agency's desire to place onerous new food safety regulations on small, local farmers (while allowing big agribusiness to conduct business as usual). Click here to read the full alert at Cornucopia.org. This is all about the "Food Safety Modernization Act" or FSMA. As Cornucopia states, "regulators and corporate agribusiness are using the FSMA to competitively crush the ...
What if you knew the eact date of the next stock market crash? (video)
Post Date: 2013-11-13 22:41:09 by BTP Holdings
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Click on the link. pro.stansberryresearch.co...NYSENEW1/LTRWPB06/?h=true
Fed Official Who Helped Orchestrate QE: 'I'm Sorry, America,' QE Really Was A Huge Wall Street Bailout
Post Date: 2013-11-12 10:13:10 by Ada
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Andrew Huszar, a former Federal Reserve employee who executed QE, has written a Wall Street Journal op-ed apologizing for the "unprecedented shopping spree." Huszar worked at the Fed for seven years before leaving for Wall Street. The central bank recruited him back in 2009 to manage "what was at the heart of QE’s bond-buying spree–a wild attempt to buy $1.25 trillion in mortgage bonds in 12 months." "I can only say: I'm sorry, America," Huszar writes. From the Journal: It wasn't long before my old doubts resurfaced. Despite the Fed's rhetoric, my program wasn't helping to make credit any more accessible for the average American. ...
What I saw at the doomsday prepper convention
Post Date: 2013-11-12 08:44:42 by Ada
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The market for preparedness supplies tracks to broader anxieties: some sensible, some not so much. And it's not just conspiracy theorists buying in. More and more Americans are spending money to get ready for an uncertain future -- gathering food, water, tools, and skills to help them weather anything from a hurricane to a pandemic. Contrary to images of deluded or gun-obsessed "lone wolves," many preppers are average consumers reacting to concrete worries, and their way of thinking is spreading, fueling an emerging lifestyle trend. That lifestyle is generating demand for a broad spectrum of products offering survival -- or even comfort -- when large-scale systems go down. ...
Money Manager Baker: Fed Policy Helps the Wealthy at Expense of 'Main Street'
Post Date: 2013-11-09 17:46:34 by BTP Holdings
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Money Manager Baker: Fed Policy Helps the Wealthy at Expense of 'Main Street' Thursday, 07 Nov 2013 12:20 PM By Dan Weil While the wealthy benefit from the red-hot stock rally created by the Federal Reserve's gargantuan easing program, many Americans are taking it on the chin, says Simon Baker, CEO of Baker Ave. Asset Management. "Main Street is a long way from back," he tells Yahoo. "If the question is, 'Is Main Street happy?' I don't think so." Baker labels the Fed's accommodation "a massive, $3.7 trillion redistribution of wealth" that has helped only Wall Street and the wealthiest 5 percent of the country that owns ...
Peter Coyne, thinking over a recent event in Baltimore...
Post Date: 2013-11-09 12:38:33 by BTP Holdings
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Peter Coyne, thinking over a recent event in Baltimore... Around the corner from our HQ in Baltimore, there's a BBQ joint that used to be known as the Midtown Yacht Club. It's a peanut-shells-on-the-floor kind of place… nowhere near the water. Earlier this week, we went to grab some ribs. They specialize in spicy sauces. We like the red, mild. But on the menu you can choose from a dozen or so. Surprisingly, after we walked in, we discovered at the bar a dozen or so economists. "How many people does it take to change a light bulb?" one asked. "Uh, oh," we thought... One gentleman, a smart-ass sports economist for the Orioles, answered first ...
The Myth About Money, Credit & Gold
Post Date: 2013-11-09 10:32:57 by BTP Holdings
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The Myth About Money, Credit & Gold by Chris Mayer The standard version of how money came to be goes like this: First, there was barter. (A handful of nails for a pint of ale!) Then, along came various forms of money. An evolutionary derby eventually crowned gold and silver as the supreme money. And finally, credit (or debt) was born. This is the apex of man's ascent from knuckle-dragging barterer to tie-wearing mortgage holder. It's a nice little story... except it's completely wrong. "Our standard account of monetary history is precisely backward," writes David Graeber in Debt: The First 5,000 Years. "We did not begin with barter, discover money and ...
Exclusive: Obama’s Secret Iran Détente
Post Date: 2013-11-08 10:08:13 by Ada
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by Nov 8, 2013 5:45 AM EST Long before a nuclear deal was in reach, the U.S. was quietly lifting some of the financial pressure on Iran, a Daily Beast investigation reveals. How the sanctions were softened. 253 The Obama administration began softening sanctions on Iran after the election of Iran’s new president in June, months before the current round of nuclear talks in Geneva or the historic phone call between the two leaders in September. While those negotiations now appear on the verge of a breakthrough the key condition for Iran—relief from crippling sanctions—began quietly and modestly five months ago. A review of Treasury Department notices reveals that the U.S. ...
The “Financial Economy” as a Growing Cancer
Post Date: 2013-11-07 20:05:10 by BTP Holdings
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The “Financial Economy” as a Growing Cancer by Marc Faber I would like readers to consider carefully the fundamental difference between a "real economy" and a "financial economy." In a real economy, the debt and equity markets as a percentage of GDP are small and are principally designed to channel savings into investments. In a financial economy or "monetary-driven economy," the capital market is far larger than GDP and channels savings not only into investments, but also continuously into colossal speculative bubbles. This isn't to say that bubbles don't occur in the real economy, but they are infrequent and are usually small compared ...
Twitter sets IPO price at $26, will raise $1.8B
Post Date: 2013-11-07 04:01:52 by Tatarewicz
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NEW YORK (AP) — Twitter has set a price of $26 per share for its initial public offering, which means the company's stock can begin trading Thursday on the New York Stock Exchange in the most highly anticipated IPO since Facebook's 2012 debut. The price values Twitter at more than $18 billion based on its outstanding stock, options and restricted stock that'll be available after the IPO. That's more than Macy's, which has a market capitalization of $17 billion, and Bed Bath & Beyond, which is around $16 billion. The pricing means the short messaging service will raise $1.8 billion in the offering, before expenses. The company is offering 70 million shares in ...
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