Monthly Archives: July 2013

Ohio Dept. Of Insurance: Obamacare To Increase Premiums By 88 Percent

"Last week, the Ohio Department of Insurance announced that, based on the rates submitted by insurers to date, the average individual-market health insurance premium in 2014 will come in around $420, 'representing an increase of 88 percent' relative to 2013. 'We have warned of these increases,' said Lt. Gov. Mary Taylor in a statement. 'Consumers will have fewer choices and pay much higher premiums for their health insurance starting in 2014.' According to actuarial firm Milliman, the two biggest drivers of the increase are (1) risk pool composition changes and (2) Obamacare’s required expansion of insurance benefits." Continue reading →

Continue ReadingOhio Dept. Of Insurance: Obamacare To Increase Premiums By 88 Percent

Realty Mogul Review: Fractional Investment Property Ownership, Hard Money Lending

"Realty Mogul is a new 'crowdfunding' start-up that lets you invest in residential investment property for as little as $5,000. You either take a partial ownership position in a property, or you become a lender to (experienced) house flippers. The new thing here is that you can do it completely online with a few mouse clicks (no mortgage brokers, real estate agents, or tenants) and again that low minimum $5,000 investment. Taking an equity ownership position means that you own a little slice of a single-family home or multi-unit complex while a professional does the buying, fixing up, renting out, and eventual selling." Continue reading →

Continue ReadingRealty Mogul Review: Fractional Investment Property Ownership, Hard Money Lending

Marc Faber: Even QE99 won’t help US; India best in Asia

"Despite quantitative easing (QE) not really bearing any fruit for the common man, the Federal Reserve is likely to continue with it and go 'up to QE99,' says investment guru Marc Faber. He strongly feels easy money has not boosted employment for the ordinary people; instead it has given a philip to asset prices owned by very small portion of the population. Property prices over the last 12 months are up 35 percent, but all this has not helped the man on the street, he says." Continue reading →

Continue ReadingMarc Faber: Even QE99 won’t help US; India best in Asia

The “Zero Hour” Scenario

"The 'emperor' here consists of central banks, commercial and investment banks and the commodities exchanges. The day everyone recognizes them as being buck naked — or in this case, stripped of the gold they claim to hold — will be 'zero hour.' It’s the day you’ll be happy you held on, even as gold sank from $1,900 in September 2011 to less than $1,500 as we go to press. Caution: What we are projecting here is nearly the ultimate in fat-tail events. But make no mistake: Zero hour — in the form of a precious metals default on the Comex, or maybe the London Bullion Market Association (LBMA) — is coming sooner or later." Continue reading →

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Sneak peek: US Mint’s gold & silver coins production facility

"The appetite for US American Eagle gold and silver bullion coins is still at unprecedentedly high levels almost two months after a historic sell-off in gold unleashed years of pent-up demand from retail investors. We take a look at Mint, one of the world's top producers of gold and silver coins' production facility." Continue reading →

Continue ReadingSneak peek: US Mint’s gold & silver coins production facility

A Frontrunner for the 2013 Bureaucrat-of-the-Year Award?

"A former official of the Bay Area Rapid Transit raked in more than $333,000 last year without working a single day after she resigned under pressure in May 2011. Dorothy Dugger, the BART’s former general manager, quietly stayed on the payroll, burning off nearly 80 weeks of unused vacation time, drawing paychecks and full benefits for more than 19 months after she agreed to quit more than two years ago, San Jose Mercury News reported. The months of extra pay were in addition to the $920,000 Ms. Dugger was paid to leave after the BART’s board botched an effort to fire her by violating public meetings laws, San Jose Mercury News reported." Continue reading →

Continue ReadingA Frontrunner for the 2013 Bureaucrat-of-the-Year Award?

DOE Green Energy Loans: $11.45 million per job and a rounding error’s worth of averted carbon emissions.

"Green energy jobs and DOE loans are tallied under programs 1703 and 1705 on this list. Permanent jobs created: 2,298; Taxpayer financed loan guarantees: $26.33 billion. 19 of the projects cost more than $10 million per permanent job. Even if you use the Obama maldaministration’s accounting methods and include temporary employment, the totally idiotic 'jobs created/saved' category and include the 33,000 Ford Motor Company jobs 'saved', you get ~60,000 jobs at a cost of $34.5 billion –> $580,000 per job." Continue reading →

Continue ReadingDOE Green Energy Loans: $11.45 million per job and a rounding error’s worth of averted carbon emissions.

Documentary producers sue music company over copyright to ‘Happy Birthday To You’

"'Happy Birthday to You' is the subject of a fresh US legal dispute, with a production firm claiming the tune’s copyright owner has no exclusive right to the most popular song in the English language. Good Morning to You Productions (GMTY) has filed suit in a federal court in New York against Warner/Chappell Music demanding that the government declare invalid its copyright over the song, saying it belongs in the public domain. The lawsuit also demands the return of 'millions of dollars of unlawful licensing fees collected by defendant Warner/Chappell pursuant to its wrongful assertion of copyright ownership of the song,' the 26-page suit says." Continue reading →

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The Endgame of State/Local Government Pensions

"During the past 30 years of financialized abundance, the benefits and pensions promised to public employees were increased substantially. Public unions are a powerful political force in many states, and in eras of rising tax revenues, it's an easy political decision to increase public employee benefits and pension payouts. The rising stock and bond markets generated huge profits for the public-employee pension funds, enabling them to grow without taxpayer contributions. The effortlessness and persistence of this growth encouraged the mindset that pensions would be paid for via the magic of ever-rising markets." Continue reading →

Continue ReadingThe Endgame of State/Local Government Pensions

Ohio Appeals Court: Turn Signal Not Needed If Driving Straight

"Motorists driving in a straight line do not need to use their turn signal. That's the conclusion Ohio's second highest court reached on June 7 while reviewing the opinion of the Erie County Municipal Court. Paseka had been heading west on Lima Sandusky Road (State Route 6) in Erie County where the road forks. Those wishing to continue on Lima Sandusky Road must veer to the left, otherwise continuing straight ahead places the driver on Wahl Road. Paseka continued straight onto Wahl Road, and for that he saw the flashing lights of a police officer behind him. He was pulled over for failure to use a turn signal." Continue reading →

Continue ReadingOhio Appeals Court: Turn Signal Not Needed If Driving Straight