Land Of The Flea

The First Step to a Free Detroit: Let Them Work

"What might the ordinary people of Detroit achieve if all barriers to the free use of their labor were removed? What if taxes were eliminated, allowing workers to keep all of their pay? We could expect the early emergence of personal services, such as hairdressers, barbershops, cleaning services, home maintenance, babysitting, etc. If capital has confidence that it can be protected, then next we could expect to see small scale capital-intensive enterprises spring up, such as food vendors, private taxis, bodegas, and tobacco shops. If these are allowed to flourish, then we could expect to see larger capital intensive enterprises arise, such as small scale factories." Continue reading →

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Obamacare Regulations Are 8 Times Longer Than Gutenberg Bible

"The 109 final Obamacare rules that have been published in the Federal Register so far take up 10,516 pages in the register. These pages carry an average of about 1,000 words each. So, the final Obamacare regulations published so far amount to approximately 10,516,000 words. The Department of Health and Human Services filed the majority of the regulations. But other federal agencies that have filed final Obamacare regulations include the Department of Labor, the Internal Revenue Service, the Office of Personnel Management, the Food and Drug Administration, the Department of Defense, the Centers for Disease Control and Prevention, the Social Security Administration, and Veterans Affairs." Continue reading →

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Rite Aid joins promotion effort for Obamacare

"Department of Health and Human Services Secretary Kathleen Sebelius made the announcement Monday alongside Rite Aid CEO John Standley in New Jersey, where the feds will operate the health insurance exchange after Gov. Chris Christie rejected creating a state-run one. CVS Caremark in July announced plans to inform uninsured customers about the law. CVS pharmacies will host trained 'navigators,' who are funded by the health law to educate people about their coverage options. Walgreens also announced plans over the summer to team up with the Blue Cross Blue Shield Association to educate customers in its stores." Continue reading →

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Helping the Dow Industrial Average to Climb

"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 →

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The ‘sharp decline’ in U.S unemployment was actually a glitch

"US jobless claims fell sharply last week mainly due to technical problems that affected some states supplying data, the government said Thursday. Initial claims for unemployment benefits dived by 31,000 to 292,000 in the holiday-shortened week ending September 7, the Labor Department reported. The sharp drop in claims reflected technical problems in some states in collecting claims data, the official said. The drop was due to upgrading of computer systems in two states that resulted in fewer claims being processed, as well as the Labor Day holiday, analysts noted." Continue reading →

Continue ReadingThe ‘sharp decline’ in U.S unemployment was actually a glitch

Employment: Trending Down

"Charts and data provided by longtime correspondent B.C. reflect what many know from first-hand experience: employment is trending down. The growth rate of employment is declining over time, as positive growth weakens and recessionary declines deepen. Though the 3-year average annual change has improved to near-zero, the 5-year (i.e. longer-term trendline) is still solidly negative. There are two other trends in employment: 1. Decline of full-time jobs and the rise of part-time jobs 2. Stagnation of high-wage employment and increases in lower-wage job sectors." Continue reading →

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California Governor Calls for Legislation that will Increase Unemployment

"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 →

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Why I renounced US citizenship

"I flew to Switzerland and was hired by two large international firms at the same time within a few weeks, both offering double the pay and with better benefits. I had to choose. Months later, my spouse joined me there. 11 years later, I learned that Swiss banks were rejecting little people simply because they had US citizenship and as a result of US policy. It was clear that the US citizenship had to go. Overall, I find that the American job market is often trigger-happy, overreacting to strongly to non-issues. In Switzerland, I’m trusted, my skills and motivation are respected and appreciated and my minor human errors are forgiven. To anyone thinking about working in America: think again." Continue reading →

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FATCA Hassles: Feds Cracking Down on Overseas Tax Evasion

"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 →

Continue ReadingFATCA Hassles: Feds Cracking Down on Overseas Tax Evasion