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Latest Articles: Business/Finance
Income Inequality Is Irrelevant In A Country Like America [Full Thread]
Post Date: 2015-10-20 11:55:13 by HAPPY2BME-4UM
42 Comments
"It is in the character of very few men to honor without envy a friend who has prospered." – Aeschylus The fundamental issue behind income inequality could be boiled down to a single question: Are poor Americans better or worse off because Bill Gates ($79 billion net worth), Oprah Winfrey ($3 billion net worth), Michael Jordan ($1 billion net worth) and Mark Zuckerberg ($40 billion net worth) are living in the United States? Certainly, having them living in America creates more income inequality. It also hurts the poor by….oh wait, having them here doesn’t hurt the poor at all. None of these people made their money off the backs of the poor (How could they? The ...
HOW WILL 'MERIKA SURVIVE? - Wal-Mart Squeezes Suppliers For Price Cuts As Earnings Sag
Post Date: 2015-10-19 19:51:59 by HAPPY2BME-4UM
15 Comments
Suppliers of everything from groceries to sports equipment are already being squeezed for price cuts and cost sharing by Wal-Mart Stores (WMT.N). Now they are bracing for the pressure to ratchet up even more after a shock earnings warning from the retailer last week. The discount store behemoth has always had a reputation for demanding lower prices from vendors but Reuters has learned from interviews with suppliers and consultants, as well as reviewing some contracts, that even by its standards Wal-Mart has been turning up the heat on them this year. "The ground is shaking here," said Cameron Smith, head of Cameron Smith & Associates, a major recruiting firm for suppliers ...
Unwanted Deposits and Bank Reshufflings
Post Date: 2015-10-19 19:20:16 by BTP Holdings
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Unwanted Deposits and Bank Reshufflings Oct 19, 2015 8:30 AM EDT By Matt Levine No one wants your cash. A bank is a magical place that transforms risky illiquid long-term loans into safe immediately accessible deposits. Like most magic, this requires a certain suspension of disbelief. We live in skeptical times, though, and people who would once have gazed with childlike wonder on the magic being worked by banks are now all like, well, that is kind of a risky mismatch, you should really hold a lot more capital against all those flighty demand deposits. And so you get stories like "Big Banks to America’s Firms: We Don’t Want Your Cash": Many businesses have large ...
Incredible Silver News You Aren't Seeing
Post Date: 2015-10-19 16:34:10 by BTP Holdings
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Incredible Silver News You Aren't Seeing By Adam English | Here is a little pro tip that applies to every aspect of life. Never stop reading. Ever. I know, broad and vague, but this week I want to use a quote from an otherwise useless article to keep you filled in on rumblings about silver that are coalescing into a much larger story. It should come as no surprise that people involved in finance are utterly hopeless news junkies. Half of our job is to constantly read, and we're always taking that portion of work home. We'll read just about anything to find that one nugget of information that is worth remembering. If you've ever perversely looked forward to wading into ...
What’s Oxford Club’s $25 Billion “Miracle Molecule?”
Post Date: 2015-10-19 08:18:07 by Tatarewicz
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This pitch is not all that tough to decipher for those who are seasoned biotech investors, but it’s generating a lot of questions for us today so I thought we’d get a quick answer out for you — it’s certainly a stock that gets plenty of attention, so you won’t need much of a head start on your research from yours truly on this one. The pitch is that there’s a “Miracle Molecule” which will save millions of lives, and that one company has “exclusive patent rights” — which doesn’t narrow it down all that much, that’s the promise of “miracle molecules” from hundreds of biotech companies… but the Oxford Club ...
China nuclear deal ‘threatens Britain's national security’ – intelligence sources
Post Date: 2015-10-19 00:34:26 by Tatarewicz
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RT... Chancellor George Osborne’s plans to allow China to help design and build two nuclear power plants in the UK have been described as “astounding” by critics, who warn it poses a threat to national security. Osborne hopes to finalize the multibillion-pound deals next week during Chinese President Xi Jinping’s visit to Britain. If agreed, Chinese state-owned companies could design and build a reactor using their own technology at Bradwell on the Essex coast. Security sources have expressed alarm at giving the People’s Republic of China (PRC) such intimate access to Britain’s energy infrastructure, warning the UK could be rushing into an agreement with ...
U.S. halts Alaskan oil drilling for two years
Post Date: 2015-10-18 22:37:59 by Tatarewicz
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WASHINGTON, Oct. 17 (UPI) -- The Obama administration canceled offshore drilling in Alaska's Arctic Ocean for the coming two years after scrapping current and future drilling plans in the Chukchi and Beaufort seas. The Department of the Interior announced it is canceling two lease sales it had planned for the next two years for Arctic drilling rights and denied requests from two oil companies to extend leases on drilling rights. It comes less than a month after Shell Oil pulled its drilling operation out of the Arctic, citing disappointing results and high costs. "In light of Shell's announcement, the amount of acreage already under lease and current market conditions, it ...
BREAKING: Pentagon Insider Reports Collapse of International Monetary System Now Imminent
Post Date: 2015-10-18 12:59:49 by BTP Holdings
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BREAKING: Pentagon Insider Reports Collapse of International Monetary System Now Imminent If you are at all concerned about the U.S. dollar or you own any assets (like stocks or bonds) priced in it, then an urgent new warning from Jim Rickards is worth paying attention to. Mr. Rickards is well-known as a New York Times best-selling author and from his TV appearances, but his experience actually spans 35 years on Wall Street, and he still manages a hedge fund now. Less well-known is his extensive work within the government, where he’s been an adviser to the Office of the Director of National Intelligence, which oversees the NSA, the CIA and 14 other U.S. intelligence agencies. ...
Wind power sweeps past 2014 output total in Germany
Post Date: 2015-10-18 04:58:18 by Tatarewicz
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thelocal.de...Germany's wind power generation by September surpassed last year's total, thanks to favourable weather conditions and an expansion of wind farms, industry bodies said Thursday. The cumulative total production from land-based and offshore wind farms so far this year was 59 billion kilowatt hours, topping the 57.4 billion kilowatt-hours (kWh) for all of 2014. Wind power's share of national electricity output rose to 12.9 percent between January and July, from a share of 8.9 percent for all of last year. Almost every month saw a year-on-year rise, said the German Association of Energy and Water Industries (BDEW) and the Centre for Solar Energy and Hydrogen ...
China overtakes US in Hurun's dollar billionaire list
Post Date: 2015-10-17 22:06:59 by Tatarewicz
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China overtakes US in Hurun's dollar billionaire list Chen Man-nung and Staff Reporter 2015-10-17 12:13 (GMT+8) Wanda chair Wang Jianlin has reclaimed the No. 1 spot in Hurun's latest list. (File photo/CNS) Wanda chair Wang Jianlin has reclaimed the No. 1 spot in Hurun's latest list. (File photo/CNS) China has created more dollar billionaires than the United States this year for the first time mainly due to the country's booming equity market despite the economic slowdown, according to the Hurun Rich List 2015 released on Oct. 15 by the Hurun Research Institute. According to Hurun's annual China rich list, the number of dollar billionaires in China stands at 596 ...
Big Bad October … Time Machines … Gold & Silver
Post Date: 2015-10-17 18:57:30 by BTP Holdings
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Big Bad October … Time Machines … Gold & Silver Money and Markets | Saturday, October 17, 2015 at 7:30 am Here’s a quick, executive summary of stories from this past trading week, with a link to the full articles online. October Crashes, Collapses and Upheavals Is there a cycle — or combination of cycles — that, due to patterns deeply embedded in history, come together in the 10th month more often than mere chance would dictate? Dr. Martin Weiss explores historic October upheavals. Could Cars Become Time Machines? While the technology to meet your high school mom or straighten out your grown kids still doesn’t exist, the rise of autonomous vehicle is ...
Alibaba launches this year's Singles Day sales campaign
Post Date: 2015-10-16 02:34:25 by Tatarewicz
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Want... Chinese e-commerce giant Alibaba is eyeing the global market with its annual Nov. 11 "Singles Day" shopping blowout this year, CEO Daniel Zhang said at a launch event in Hangzhou on Oct. 13. Representatives from 39 countries gathered at Alibaba's headquarters in the city for the launch of this year's campaign to promote online sales on Nov. 11, which totaled a record 57.1 billion yuan (US$9 billion) in sales last year. "Globalization will be the main theme of the Nov. 11 sales this year and in coming years. If consumers check the Taobao and TMall apps on their phones, they will discover merchandise from around the world, which is more attractive than just ...
$3,248,723,000,000: Federal Taxes Set Record in FY 2015; $21,833 Per Worker; Feds Still Run $438.9B Deficit
Post Date: 2015-10-15 20:29:33 by HAPPY2BME-4UM
5 Comments
The federal government took in a record of approximately $3,248,723,000,000 in taxes in fiscal 2015 (which ended on Sept. 30), according to the Monthly Treasury Statement released today.That equaled approximately $21,833 for every person in the country who had either a full-time or part-time job in September.It is also up about $207,713,560,000 in constant 2015 dollars from the $3,041,009,440,000 in revenue (in 2015 dollars) that the Treasury raked in during fiscal 2014. .insert-box .insert-caption { max-width:789px; } @media (max-width: 789px) { .insert-box .insert-caption { width: 100%; } } Even as the Treasury was hauling in a record $3,248,723,000,000 in tax revenues in ...
My Mantra for the Markets: First There, Now Here
Post Date: 2015-10-14 21:47:12 by BTP Holdings
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My Mantra for the Markets: First There, Now Here Mike Larson | Wednesday, October 14, 2015 at 4:20 pm “First There, Now Here.” That’s my mantra for the economy and the markets. By that I mean, the economic and market turmoil started predominantly overseas. I’ve chronicled the meltdowns in several emerging markets like Russia, South America and Asia. I’ve also written about the more recent widespread deterioration in conditions in China — the world’s second-largest economy. But unlike most of the conventional Wall Street crowd, I’ve also said the problems won’t stay bottled up overseas. They’ll wash up on our shores. Hence the ...
HERE'S WHAT FREE TRADE DID FOR AMERICA - China now has more people in the top 10% of global wealth holders than any other country
Post Date: 2015-10-14 15:30:22 by HAPPY2BME-4UM
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A model on a luxury yacht at a boat show in the port of Dalian. China now has more people in the top 10% of global wealth holders than any other country. China now has more people in the top 10% of global wealth holders than any other country except for the US and Japan, having moved into third place in the rankings by overtaking France, Germany, Italy and the United Kingdom. Click for Full Text!
WalMart Carnage: Stock Plummets Most In 17 Years After Slashing Earnings Guidance, Blames Wage Hikes
Post Date: 2015-10-14 13:35:43 by HAPPY2BME-4UM
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Do you see what happens Larry when Wal-mart succumbs to "progressive" pressure and hikes wages? This: WMT CFO: NEW HIRES TO START AT $10 PER HOUR NEXT YEARWMT CFO: 2017 RISE IN WAGES TO COST $1.5BWMT PLANS REDUCTION IN CAPITAL EXPENDITURES THROUGH FY19WAL-MART SEES FY2017 EPS DECREASING 6-12% VS FY2016 More from Reuters: Company says strong dollar expected to hurt full-year revenue by $15 blnCompany says full-year net sales growth expected to be "relatively flat", mainly due to strong dollar; Walmart had earlier forecast 1-2 pct growthSays expects fiscal 2017 earnings per share to fall by 6-12 pct due to higher wages and training costsCompany's $20 bln share buyback ...
Global oil demand growth to slow in 2016: IEA
Post Date: 2015-10-14 05:45:04 by Tatarewicz
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Yahoo... Paris (AFP) - The world's demand for oil is expected to slow in 2016 in response to a more pessimistic outlook for the global economy, likely keeping the crude market oversupplied, the International Energy Agency (IEA) said Tuesday. "Global demand growth is expected to slow from its five-year high of 1.8 million barrels per day in 2015, to 1.2 mb/d in 2016," moving closer toward its long-term trend, the IEA said in its monthly oil market report. That will probably mean a continued oil supply glut next year, especially with the expected arrival of Iranian crude. "A projected marked slowdown in demand growth next year and the anticipated arrival of additional ...
Production of China's first unmanned subway trains complete
Post Date: 2015-10-14 00:09:22 by Tatarewicz
1 Comments
Want China Times... Production of Beijing's first fully automatic subway trains has been finished, Changchun Railway Vehicles, a subsidiary of China CRRC Corporation, announced on Monday. They will be the first fully automatic trains in mainland China and are scheduled to be put into service this year. The trains, with a top speed of 80 kilometers an hour, can carry a maximum of 1,262 passengers. Unmanned subway trains were first introduced in Copenhagen and are used in cities including Paris, Barcelona and Nuremberg.
WHY THINGS ARE SO SCREWED UP - The "1%" Own Half The World's Assets: The Stunning Chart
Post Date: 2015-10-13 14:22:04 by HAPPY2BME-4UM
5 Comments
On of the key things to understand about the massive, coordinated, global easing effort on which central banks have embarked since the financial crisis is that these policies have served to widen the gap between the rich and poor. Ben Bernanke - and plenty of other vaunted central planners for that matter - will tell you a different story. They’ll tell you that by creating jobs and boosting the economy, QE and ZIRP have actually done more for the middle- and lower-classes than they have for the wealthy. Obviously, that’s nonsense. When you adopt a set of policy measures specifically designed to inflate the value of the assets that are most likely to be concentrated in ...
Flush royals: Gulf's wealthiest flock to LA to flash and spend
Post Date: 2015-10-13 00:04:25 by HAPPY2BME-4UM
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Mega mansions, exotic cars, front-row seats at sold out sporting events and private sprees at Rodeo Drive boutiques – nothing is out of reach for oil-rich Arabs who flock to Los Angeles to live, play and spend. Private jets from Saudi Arabia, United Arab Emirates, Kuwait, Qatar and Bahrain are an increasingly common sight at LAX and smaller regional airports as younger members of various royal families eschew old destinations like London, Monaco and New York for Southern California. The influx has spawned a cottage industry of “fixers” who are expected to work magic. “The only rule is we just can’t say no to whatever they request - and they expect to have results ...
Beijing's Indonesia rail win comes at a heavy cost
Post Date: 2015-10-11 22:32:13 by Tatarewicz
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@WantChinaTimes The high-speed rail project in Indonesia might be a victory for China over Japan, but perhaps at too steep a cost, reports our Chinese-language sister paper Want Daily. A superior financial package was the main reason Indonesia awarded the contract to China, according to the Financial Times. The Chinese proposal does not require a loan guarantee from the Indonesian government and does not involve the state budget. The terms are more lenient as well: The Indonesian state-owned business consortium will have 40 years to repay the US$4 billion loan with an annual interest rate of 2%, and only have to pay installments 11 years after the railway begins operation. Phoenix News ...
Debt Crisis Shutdown Imminent
Post Date: 2015-10-11 13:27:00 by BTP Holdings
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Debt Crisis Shutdown Imminent If you have money in banks or on Wall Street get prepared…The U.S. Government is facing another debt crisis shutdown. And this time it’s worse. This week Secretary of the Treasury Jacob Lew sent John Boehner a letter stating the use of their extraordinary measures will cause the Government to run out of money on November 5th. This situation is getting so bad that the Secretary has stepped up sending these financial update letters now every month. You can see each one of these here at the Treasury Department’s website. In fact the tax receipts were much lower than expected resulting in a net decrease in funds available for Congress to spend. ...
Why T. Boone Pickens Was Wrong About Oil
Post Date: 2015-10-11 09:52:18 by BTP Holdings
2 Comments
Why T. Boone Pickens Was Wrong About Oil by JR Crooks If you haven't heard of T. Boone Pickens ... he's a billionaire energy investor who built one of the biggest natural gas empires in the country. If there's anyone who has their pulse on the energy markets, it's T. Boone. Yet, just earlier this week he went on CNBC to explain why he now believes his latest prediction on oil prices was dead wrong. You see, earlier this year T. Boone predicted that oil prices would finish off the year at $70. He had lots of reasons including rising global demand and declining supply from the breakdown in the fracking industry. And low and behold ... his predictions on supply ...
Forensic Accountant Warns: "Shut your bank account, usse this instead"
Post Date: 2015-10-11 09:24:04 by BTP Holdings
4 Comments
Former forensic accountant at America’s third-largest banking group, Tom Dyson has just written a new book that your banker is praying you’ll never read... It’s called: The 702(j) Retirement Plan: How to Fund Your Own Worry-Free, 100% Tax-Free Retirement. And it details the findings from a 12-month investigation into President Ronald Reagan’s secret alternative "retirement income plan"... A strategy that’s unconnected to the government, yet may pay you almost two times more than Social Security... And unlike Social Security, it will never run out of money... This book is not available on Amazon. You can’t buy it on eBay. And you’ll never ...
You Get 0%. They Get 28%. Not Fair!
Post Date: 2015-10-11 09:12:19 by BTP Holdings
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If you think Wall Street is rigged, you’re right. While you collect 0% from your savings accounts, many Wall Street bankers have found an ingenious new way of collecting a much higher interest income. As high as 28.99%... every year… almost effortlessly. For example, Vikram Pandit, the former CEO of Citigroup called this phenomenon a “radical transformation of the global banking landscape.” And John Mack, former chairman of Morgan Stanley, has invested several million in this phenomenon. When asked about it, he said: “Three-year Treasury bonds are paying 0.4% in interest. With [this “secret account”], you can get at least 7%. Given where interest ...
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