Money, Money/Capitalism, Stock Market
Explainer: Wall St Enraged After Investors Band Together To Buy Gamestop Stockby Tammy on January 28, 2021
Charles Payne at Fox Business talks with Tucker Carlson about what the scandal is all about. Watch the latest video at foxnews.com
The Largest Public Companies Taking PPP Loans Meant For Small Businessby Tammy on April 21, 2020
All businesses are important, but the spirit of the PPP law providing payroll loans/grants was meant to save small businesses, mom-and-pop type, and small entrepreneurs. Here, CNBC lists the *publicly held* companies who have received the PPP grants. Now that another batch seems to be ready to pass Congress it’s clear the focus must be small businesses. At least Shake Shake, which also had taken the money, gave it back after being embarrassed by the public exposure. Perhaps a campaign of public shame and exposure could convince some of these public companies to also give the money the back. UPDATE: At today’s coronavirus briefing, Treasury Secretary Steve Mnuchin said that the PPP program was “not meant” for large public companies...
Progressive Billionaires Call for Higher Taxes. Why Not ‘Donate’ To Gov’t *Now* ?by Shifra on July 3, 2019
Sounds like nothing more than Lib virtue-signaling. But if they are really serious about wanting higher taxes, the Treasury accepts “Gifts to the United States” at P.O. Box 1328, Parkersburg, W.Va. I’m sure they can afford the postage. Via WSJ. Nineteen uberwealthy Americans posted an open letter Monday calling on “all candidates for President” to support a “moderate” wealth tax. Signatories include the investor George Soros, Berkshire Hathaway scion Molly Munger, Mickey Mouse heiress Abigail Disney, Facebook co-founder Chris Hughes, and a couple of Hyatt Hotel progeny from the Pritzker family. “America has a moral, ethical and economic responsibility to tax our wealth more,” they say. Revenue squeezed from the top 0.1% could fund “smart investments,” such as “clean energy...
New Hiring Policy In Booming Economy: No Degree/Experience Requiredby Shifra on August 8, 2018
A job market where you can snag your dream job with few requirements. Thank you, President Trump. Via WSJ. Americans looking to land a first job or break into a dream career face their best odds of success in years. Employers say they are abandoning preferences for college degrees and specific skill sets to speed up hiring and broaden the pool of job candidates. Many companies added requirements to job postings after the recession, when millions were out of work and human-resources departments were stacked with résumés…. “Candidates have so many options today,” said Amy Glaser, senior vice president of Adecco Group, a staffing agency with about 10,000 company clients in search of employees. “If a company requires a degree,...
Theories of Taxesby Maynard on April 15, 2015
(Bumped from the Bush era.) Maynard contemplates Lady Godiva (the original tax protestor!) and tax policies of the modern era.
Liberals’ Favorite ‘Income Inequality’ Economist Backtracks On His Ideasby Shifra on March 10, 2015
In an honest and courageous move, Thomas Piketty, who warned of rising income inequality, now says too much was made of his ideas. Will Paul Krugman, who used Piketty’s ideas to call for massive tax hikes on the rich, follow suit, and backtrack, too? Don’t hold your breath… Via WSJ: Robert Rosenkranz — Piketty Corrects the Inequality Crowd ‘Capital in the 21st Century,” a dense economic tome written by French economist Thomas Piketty, became a publishing sensation last spring when Harvard University Press released its English translation. The book quickly climbed to the top of best-seller lists, and more than 1.5 million copies are now in circulation in several languages. The book’s central proposition, that inequality in capitalist societies will...
‘Duck Dynasty’ Star Left $5K Tip After Dining With Hannity, Levin & Cruzby Tammy on February 12, 2014
Pretty sweet. Via Washington Times. Most people leave 20 percent tips when they go out to eat. “Duck Dynasty” star Willie Robertson left a 100 percent tip while visiting the nation’s capital — on a $5,000 bill, TMZ reported. While in town for the president’s State of the Union address on Jan. 28, the A&E star went out to Ruth’s Chris Steakhouse in D.C. with Sean Hannity, Mark Levin, Sen. Ted Cruz and a host of other well-known conservatives, TMZ said. When the bill came, Mr. Robertson picked up the tab and left the enormous tip, TMZ reported. However, Mediabistro’s TVNewser claims their sources told them that it was Mr. Hannity who paid the tab and the large tip. “See?...
Stay Tuned — Cameras In Cable Boxes Watching Youby Pat_S on June 17, 2013
Last year Verizon filed for a patent for technology that would have infrared cameras and microphones monitor TV viewers behavior. Cameras in Your Cable Box? According to the patent application, the technology could detect ambient action, like people eating, exercising, reading, sleeping and more. “This may sound preposterous but it’s neither a joke nor an exaggeration,” Capuano said in a statement. “These DVRs would essentially observe consumers as they watch television as a way to super-target ads. It is an incredible invasion of privacy.” At least one member of Congress, Rep. Michael Capuano (D-Mass) is trying to stop this. The bill, called the We Are Watching You Act of 2013, would prohibit video service operators from collecting visual or audio...
The Myth of Social Securityby Maynard on January 27, 2011
Maynard explains why those responsible for Social Security should be jailed Social Security is one of those topics that I can't talk about without raving like a lunatic. It's a program founded upon lies and kookiness, and every time it...
Financial Pat Downsby Pat_S on December 27, 2010
A post by Pat It isn’t exactly a naked machine but the government wants to see any and all of our overseas electronic money transfers. The result will be, like airport security against terrorists, a change in tactics for money launderers while the innocent are subjected to more intrusion into their privacy. The question is, how much are we willing to give up? FinCEN (Financial Crime Enforcement Network) wants new rules on reporting cross-border electronic transfer funds (CBFT). FinCEN is charged with the responsibility of monitoring money transfers to spot money laundering, terrorism funding and tax fraud. Currently bank-to-bank transfers of $3,000 or more require data collection which is available to the government upon request. The proposed rules would require...
How and Why the Financial Crisis Really Happenedby Tammy on July 19, 2010
Insights about the whys and whats of our mess from former IMF chief economist Raghuram Rajan. Snippets here, do read the whole thing. Easy Credit, Hard Landing …Rajan offers a bold and convincing diagnosis of how a screw-up in the regulation of poor people’s mortgages in one country has brought the world to the brink of economic disaster, where it teeters still. He goes beyond the proximate causes of the problem—the subprimes and derivatives and trade imbalances and the like. The ultimate cause, Rajan convincingly argues, is a widening of economic inequality that American politicians of both parties found politically intolerable, and chose to fix by turning the credit market into an under-the-table welfare state… …This is an account of...
What The Porkulus Signs Should Really Sayby Tammy on July 15, 2010
(HT Hot Air)
Why Obama’s Liberal Keynesian Spending Spree Failedby Tammy on June 28, 2010
An enlightening piece from the WSJ on the theory so-called Progressives, like Obama, and liberals like Bush, relied on when implementing the now certifiably insane spending-our-way-out-of-debt tripe. Before you read the article in full, here’s some background on Keynesian economics which promotes the notion that the private sector is too inefficient economically so public section action and intervention is required. Now as the G8 has closed and it’s clear Obama’s plea for the rest of the world to continue down his path of economic death and destruction was rejected, this may be the final blow to those who believe the private sector and free market aren’t good enough. Deep in one story about the conclusion of the G8 and their...
I Smell Shenanigans, NASDAQ to Cancel Certain Tradesby Tammy on May 6, 2010
Hmmm. I thought the “error” was just about P&G and the Dow. And how is it the NASDAQ can just “cancel” trades between a certain period? Yes, they say they’ll target only the ones that plunged by 60% or more, yet they’re not applying that rule to all stocks and trades. So, now we’re supposed to believe that the freakish P&G slide, made by a guy with fat fingers or something, also happened to cause the exact same sort of slide over at a completely different exchange? I think not. I do smell the shenanigans and it stinks of China or Islamists. Nasdaq to Cancel U.S. Trades That Moved More Than 60% Nasdaq OMX Group Inc. said it will cancel...
Anyone For a “Frat House Bordello”?by Tammy on April 11, 2010
Apparently not. They tried to auction off Nicholas Cage’s foreclosed Bel Air mansion on Wednesday, but it had no takers. Weird that no one wanted to spend $10.4 million on a “fascinating and bizarre” “frat house bordello.” But I guess that’s the sort of thing you do to Dean Martin’s old house when you think things will never change. Does this mean I need to rethink my Sorority House Coffee Klatch with Bunnies Ranch theme in the Power Shack?? What? Foreclosure auction of Nicolas Cage’s mansion is a flop After a rapid-fire spiel by the auctioneer, the bidding was opened at $10.4 million, far less than the $35 million that Cage had tried unsuccessfully to sell the house for. To...