CLibertyC

A Funny Thing Happened on the Way to the Next Bull Market

"A funny thing happened on the way to the next Bull market: the price-earnings (P/E) ratio has entered bubble territory--again. Note the P/E soared to bubble heights in the early 2000s, which set up the epic collapse of stock valuations in 2008-09. Thanks to Federal Reserve manipulation/goosing/QE, the SPX P/E has once again reached bubble levels. It's clear the SPX is extended far above what can be considered historical fair valuations. What's more profitable, a slow melt-up or a panic sell-off and sharp rebound? Definitely the latter, if you're heavily short, the market is teetering on record margin debt and you can kick out the critical 2X4." Continue reading →

Continue ReadingA Funny Thing Happened on the Way to the Next Bull Market

Mars One has 78,000 applicants so far—sort of

"Mars One, the private venture with the audacious goal of sending humans to Mars—permanently—as early as 2023 made a splash earlier this week when it announced that more than 78,000 people had applied for its 'astronaut selection program' just two weeks after starting to accept applications. Lansdorp is very pleased with the public response to the campagn, the first step in a long process to select the first four-person crew that Mars One plans to launch in 2022." Continue reading →

Continue ReadingMars One has 78,000 applicants so far—sort of

Nevada bill would levy 8% tax on brothels, Burning Man festival

"The tax man may soon be visiting a few Nevada brothels. A bill to be introduced in the Nevada legislature on Wednesday will propose an 8% flat tax for live entertainment at business ventures in the state ranging from brothels to the annual Burning Man festival. Assembly Speaker Marilyn Kirkpatrick (D-North Las Vegas) says the bill would target events and businesses that have either been deemed exempt from state sales taxes or have simply been overlooked. Those operations include brothels, which Nevada lawmakers have been hesitant to tax out of fear that doing so would further legitimize the stigmatized, but legal trade." Continue reading →

Continue ReadingNevada bill would levy 8% tax on brothels, Burning Man festival

IRS Targeted Organizations Named With the Words “Tea Party” Or “Patriot”

"The Internal Revenue Service is apologizing for inappropriately flagging conservative political groups for additional reviews during the 2012 election to see if they were violating their tax-exempt status, reports WaPo. Lois Lerner, who heads the IRS unit that oversees tax-exempt groups, said organizations that included the words 'tea party' or 'patriot' in their applications for tax-exempt status were singled out for additional reviews." Continue reading →

Continue ReadingIRS Targeted Organizations Named With the Words “Tea Party” Or “Patriot”

The Truth About Fake Hospital Pricing (And What To Do If You Are Uninsured)

"People without insurance, on average, are being charged 3 times what insurance companies pay. When the uninsured patients can’t or don’t pay, the balance is written off and the tax liability is reduced. Some uninsured people try to raise the funds, and it breaks my heart that they go bankrupt trying to pay these debts. If you’re ever uninsured and wind up with a huge hospital bill, go negotiate with the hospital CFO for a 66% reduction in the bill. Use the government data (link here) as leverage in negotiating with the CFO. Threaten to expose the racket and I bet the CFO will write down your bill to keep you quiet." Continue reading →

Continue ReadingThe Truth About Fake Hospital Pricing (And What To Do If You Are Uninsured)

Newly Printed Bernanke Money Floods Manhattan

"The average rent in Manhattan rose by $139 to $3,367 a month in April, compared with March, a one-month increase of 4.3%, according to a report by Citi Habitats, a brokerage firm that represents many renters, reports WSJ. And Anthony Trevisan reports in that his NYC laundry just raised prices by 13%." Continue reading →

Continue ReadingNewly Printed Bernanke Money Floods Manhattan

Sweden’s War on Cash: News from the Frontlines

"Three of the four largest banks in Sweden continue to phase out the manual handling of cash at their branch offices at a rapid pace. Taken together, Swedbank, Nordea, and SEB, have stopped offering cash services at their branches at the rate of three branches per week since 2010. Thus during the period 2010-2012, cash disappeared from 465 Swedish bank branches. At Swedberg bank, only 75 of its 340 branches still handle cash. Leif Faithful, Head of Financial Infrastructure at the Swedish Bankers’ Association, believes that eventually all Swedes will need a bank card and sees this development as beneficial to 'both consumers and trade.'" Continue reading →

Continue ReadingSweden’s War on Cash: News from the Frontlines

Minnesota City Settles After Cop Uses Mace On Deaf Motorist

"A police officer who lashed out at a deaf driver with whom he had difficulty communicating cost St. Paul, Minnesota $93,450 on Wednesday. When Bahl failed to produce the license, Officer Bobrowski shoved him. Bahl leaned away, and the officer grabbed him by the wrist. Bahl took a pad of paper from the passenger's seat and wrote 'joint' to signify his wrist joint was in pain. Bobrowski blasted Bahl with Mace and yanked the man out of the car to be placed under arrest. Bahl was taken to Regions Hospital for treatment of his left eye which showed significant swelling from the attack." Continue reading →

Continue ReadingMinnesota City Settles After Cop Uses Mace On Deaf Motorist

Building superintendent mistakes tomato plants for pot, and so did cops he called

"Experts don’t know how the cops could have confused the two. Cops eventually got hip to the difference and closed the investigation, leaving the tomatoes alone. The unidentified owner of the tomato stash won’t have to deal with the cops but he will have to deal with his super, who said he’d lock the door to the roof. 'No one’s supposed to be there anyway,' Delarosa said." Continue reading →

Continue ReadingBuilding superintendent mistakes tomato plants for pot, and so did cops he called

Texas U. Sold $375 Million in Gold Bars

"The University of Texas Investment Management Co., the third-largest U.S. academic endowment, sold $375 million in gold bars from holdings of about $1.4 billion and reinvested the proceeds in gold futures and equities. The fund, which manages $29.2 billion, started taking delivery of gold through futures starting in 2008 as a hedge against inflation, Zimmerman said. While fund managers and directors remain concerned global consumer prices may increase, the fund wanted to increase investments in equities, he said. 'Our idea was to buy and hold gold, and when the world’s central banks begin tightening, we’ll sell,' Zimmerman said." Continue reading →

Continue ReadingTexas U. Sold $375 Million in Gold Bars