Official Inflation Measure Shows Strongest Climb in More Than Three Years
"U.S. consumer prices rose 0.7% in February for the largest gain since June 2009. Gasoline prices rose 9.1%, also making the largest jump since June 2009. The indexes for electricity, natural gas, and fuel oil also increased, leading to a 5.4 percent rise in the energy index. Among major grocery store food group indexes, the fruits and vegetables index rose 1.4 percent, with both the fresh fruits and fresh vegetables indexes increasing 1.8 percent. The index for meats, poultry, fish, and eggs also rose in February, increasing 0.5 percent." Continue reading →
Debt addiction, USA: How much debt reduction has the crisis caused?
"The trend of ever-rising overall debt has thus continued. The deleveraging in the household and financial sector has, however, resulted in a reduced pace of debt accumulation overall, despite heavy borrowing from the federal government. In 2010, for the first time since 1992, the economy has grown faster than total debt, and this has continued in 2011 and in 2012, if at a slowing pace. Consequently, total debt stands at 359% of GDP today, slightly down from its peak of 381% in 2009. At 359% debt-to-GDP is back to where it was at in early 2007. Again, not much deleveraging has occurred in total." Continue reading →
U.S., French tax laws cause concern for expats of Switzerland
"The Swiss government signed the controversial Fatca deal with the US last month. Parliament is due to discuss it later this year and political parties on the right and left have already announced they will reject it. Fatca obliges foreign banks to report offshore accounts held by US tax payers, including expats. The law is part of a policy by the US authorities to crack down on tax dodgers. France has announced it wants to revise a 1953 accord in a bid to recover inheritance tax from its citizens living in Switzerland and force Swiss who own property in France to be taxed there. The Swiss Abroad community as well as the cantons strongly oppose the amendments." Continue reading →
India enacts law to enforce ‘Know Your Customer’ norms for Gold purchases
"World's largest gold consumer India enacted a law making it mandatory for jewellers to collect a KYC (know your customer) document from every customer purchasing jewellery worth Rs 50,000. India made an amendment to extend the purview of the Prevention of Money Laundering (PML) Act to enforce Know Your Customer norms for retail purchases of gold and precious stones. Indian authorities hope this move will eventually cut down gold imports which is responsible for country's staggering current account deficit (CAD)." Continue reading →
IMF Goes Directly After Bank Depositor Money In Cyprus Bailout Plan
"The IMF today took an unprecedented step to grab bank depositor money. In a new plan to bailout the government of Cyprus, under the watchful eye of the IMF, depositors in Cypriot banks will be hit with a one-time tax on their savings, as part of a €10 billion ($12.96 billion) bailout. In a deal, announced early Saturday, accounts with more than €100,000 will be taxed at 9.9%, those with less at 6.75%, raising an expected €5.8 billion for the near-bankrupt nation. Cypriot Finance Minister Michalis Sarris said the Cypriot Parliament would adopt the taxes over the weekend and the money would be extracted from accounts before banks take up business Tuesday." Continue reading →
The Wacoization of Chris Dorner
"Will Grigg talks to Lew Rockwell about the insane and murderous police state." Continue reading →
The cops are a dangerous replacement for private gun ownership
"Even if the cops 'respond within minutes,' it’s too late. They responded within minutes at Sandy Hook. They responded within minutes in Aurora, Colorado. Ten minutes is too long. Two minutes is too long. If you are unarmed, two minutes after you are attacked by a violent criminal, you’re dead. Do the math. If the cops do arrive at your home or place where you are attacked before you’ve been killed, your problems might just be beginning. As Will Grigg reminds us, the first priority for police responding to a 911 call is 'officer safety.' More often than not, the officer attempts to secure his or her own safety at the expense of yours." Continue reading →
School Administrators Remove Army Men Cupcake Topping For Gun Control ‘Insensitivity’
"Last week, Casey Fountain’s third-grade son had a birthday party at his school in Caro. His wife decided to whip up 30 cupcakes for the boy’s classmates. She topped the treats with plastic army guys like the ones countless boys and girls have played with for decades. Fountain says he never thought his innocent act of party planning would lead to controversy. Fountain says the principal of Schall Elementary School called him personally and told him that dressing the cupcakes with soldiers was, in the principal’s words, 'insensitive' considering recent gun-related tragedies. The school is standing by its decision to remove the Army soldiers from the cupcakes." Continue reading →
The 12 Companies Cashing In On Drones
"The U.S. military spent about $3 billion on drone programs last year, according to the Wall Street Journal. And as government spending cuts threaten to pinch some of that money, defense contractors are looking for ways to expand the drone market domestically to law enforcement agencies, universities and border patrols. According to HuffPo, here are 12 major corporations making money off of drones." Continue reading →
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