"The S&P Dow Jones Indices are dropping Alcoa, Hewlett-Packard, and Bank of America from the Dow Jones industrial average. Visa, Nike, and Goldman Sachs will take their place. The changes 'were prompted by the low stock price of the three companies slated for removal and the Index Committee’s desire to diversify the sector and industry group representation of the index,' according to a statement from S&P." Continue reading →
"Gov. Jerry Brown says he supports a bill in the Legislature that would boost the California minimum wage next year and in 2016 by a total of $2 an hour, reports LaTi. The bill would raise the current $8-an-hour minimum wage to $9 on July 1, 2014, and to $10 on Jan. 1, 2016. The Governor, displaying a total lack of understanding of basic economics, said: 'The minimum wage has not kept pace with rising costs. This legislation is overdue and will help families that are struggling in this harsh economy.' What it will do is cause an increase in unemployment. Prices can't be regulated, wage prices or otherwise. It is basic supply and demand economics." Continue reading →
"It's growing. Obamacare is really not helping the youth. It will tax them for health insurance they don't need, AND it will also make it more difficult for them to find full time jobs." Continue reading →
"Switzerland, which has strict privacy laws protecting customers’ confidential financial information, has effectively declared American citizens personae non gratae as far as their banks are concerned. Banks are shuttering accounts, refusing mortgages and refinances, and refusing to open accounts for Americans living abroad. The rules create an incentive for foreign employers to cease investing in America, avoid hiring Americans, or both. And in some cases, Americans have been refused employment or promotions at foreign companies because the job description requires them to be signatories on the company’s account." Continue reading →
"A willful failure to file is considered a felony punishable by five years in prison. Holders of unreported foreign accounts have more than jail to fear. The IRS has proven itself very adept at finding taxpayers that have not filed an FBAR. Those that are caught can expect both a tax bill and a penalty assessment of the greater of $100,000 or half the highest balance in the account. Making things worse for taxpayers is next year’s looming FATCA law. If the IRS thinks you moved or renamed your account to avoid detection, chances of criminal prosecution increase dramatically. The Quiet Disclosure strategy not only doesn’t work, it sets up taxpayers for a huge interest and penalty bill." Continue reading →
"The fastest growing 'newspaper' in America is based in Manchester, England. The Internet analytics firm Compete.com found that the number of visitors to the website of The Guardian grew by 1111.75% in August and an astounding 671,389.51% over the past year. The main word that people going to The Guardian were searching for was 'Syria,' according to Compete’s blog. That would indicate Americans appreciate The Guardian’s skepticism of President Obama’s plans to attack Syria and its reputation for honest reporting. It also indicates that average Americans no longer trust their own media and are increasingly turning to a foreign news source." Continue reading →
"It’s safe to say that Muslims across the world see U.S. bombers and Tomahawk missiles as raw, 'Western Christian' aggression against their kith and kin. This is the case no matter how much legalistic justification our government places on what happens — like 'punishing' the Syrian government for using chemical weapons, or whatever. So what’s the biggest issue for investors right now? Well, at the Agora Financial Wealth Symposium in Vancouver, one speaker discussed how broad markets were 'priced for perfection.' That is, the general indexes, collective share prices, price-earnings ratios, etc. are all indicating a market psychology of everything being fine, and getting better." Continue reading →
"Russian spy agencies want easier access to all Skype conversations, notes Doug Valentine. Who can doubt the CIA, FBI, NSA, and the rest of the alphabet from Hell already have access from Bill Gates, the oligarch whose company Microsoft owns Skype? Now Bill wishes Obama could be even more of a dictator, adds Travis Holte, so the corporate state can crony-subsidize the plutocrats even more than it does now. And, Travis notes. Gates is openly anti-free market. His preferences should be enforced at the point of a government gun." Continue reading →
"Petraeus was on the way to teaching his first class at CUNY’s honors college, entitled 'Are We on the Threshold of the North American Decade?' He took on the teaching gig as part of rehabilitating his image following an extramarital affair scandal that led to his resignation from the CIA. The students can be heard yelling 'War criminal!' at the retired military officer who played a key role in the 'counterinsurgency' strategy of the Iraq War. 'Every class, David!' the students shout, suggesting they plan to protest him on a weekly basis, before every lecture. 'Petraeus out of CUNY' and 'Fascist' were some of the other chants." Continue reading →
"It will come as no surprise that amid the Mother Theresa acts, The Telegraph reports that Putin is readying delivery of more S-300 air-defense missile systems to Iran and will continue to discuss 'working together in the nuclear energy sphere.' Combine that with experts' views that Russia's plan to dismantle Syria's stockpiles of mustard gas, sarin, VX nerve agents is a long shot; initially 'sounding attractive, but very quickly, operational problems could derail obtaining international control, much less actually destroying the arsenal.' It would appear, despite all the chatter, that Putin is increasing his power-base in the region." Continue reading →