Land Of The Flea

Delta and Virgin Atlantic venture gets tentative immunity from antitrust laws

"Delta Air Lines and Virgin Atlantic Airways on Friday won tentative US approval for antitrust immunity for their proposed transatlantic joint venture, officials said. The Department of Transportation said it had recommended approving a request by the two airlines for protection from prosecution over antitrust issues, saying the tie-up would likely increase competition. The antitrust immunity 'would allow the airlines to operate a joint venture on flights between the United States and the United Kingdom,' the department said on its website." Continue reading →

Continue ReadingDelta and Virgin Atlantic venture gets tentative immunity from antitrust laws

Peter Schiff: The Unfriendly Skies

"The truth is that our impoverished citizenry can no longer support the airline industry we once had. That's why American and U.S. Air had to merge in order to stay competitive and profitable. That is the sad truth behind the headlines. The government is correct about one thing, the merger would result in fewer choices and higher fares for customers. But given the reduction of our living standards that outcome is impossible to avoid. If our government really wants to protect consumers and allow for more affordable air travel, a better solution would be to reverse the destructive policies that made the merger necessary in the first place." Continue reading →

Continue ReadingPeter Schiff: The Unfriendly Skies

The Undead Corporate Welfare Programs For Automakers

"Originally created by Congress in 2007, the Advanced Technology Vehicle Manufacturing Program provided low-cost government loans that were subsidized, guaranteed, and then in part eaten, as we now know, by hapless and strung-out American taxpayers. Ford was the top beneficiary. While bragging vociferously that it hadn’t been bailed out by the government, as opposed to GM and Chrysler, it received a $5.9 billion loan under that program ostensibly to retool its plants and start producing electric vehicles. Nissan got $1.4 billion to build its plug-in EV, the Leaf. Tesla got $465 million. It is building a few, very expensive plug-in EVs a day. Others weren’t so 'successful.'" Continue reading →

Continue ReadingThe Undead Corporate Welfare Programs For Automakers

Americans are Now Traveling Overseas for Surgery

"Growing up I recall hearing stories of how wealthy foreigners would frequently travel all the way to these United States in order to receive top notch medical attention. Fast forward a decade or two, and all I hear about now is how it is us Americans being forced abroad in order to receive affordable care. The article below from the New York Times, 'In Need of a New Hip, but Priced Out of the U.S.' is a fantastic, but depressing read on the subject. While this is an extraordinarily complicated subject, one on which I claim zero expertise, one thing is for certain. If a U.S. citizen has to travel to Belgium to implant a medical device made right here in the USA, we have a very, very serious problem." Continue reading →

Continue ReadingAmericans are Now Traveling Overseas for Surgery

Cody Willard: Game plan for a completely corrupted market

"So, what’s the game plan? It remains the same. You want to remain net long those inflated stocks for at least a while longer, but much less aggressively long than we were two and three years ago when stock prices were much lower. You want to keep buying and scaling into more real physical gold and silver (and a tiny position in Bitcoins too). Coins and bullion that you have stored yourself somewhere safe (not a paper promise, but the real stuff that you can hold). You want to start shorting Treasurys, but not rush into a big position anytime soon. The trends and systems and bubbles we’re seeing in front of us presently can last much longer than most bears thinks possible." Continue reading →

Continue ReadingCody Willard: Game plan for a completely corrupted market

Lengthy, costly trail to Bay Bridge’s eastern span

"The $6.4 billion eastern span of the bridge costs roughly five times its original estimate and took at least seven years longer than expected. It took Caltrans officials 7 1/2 years and $1 million in research before they decided to replace the eastern span rather than retrofit it. In March, as contractors were tightening huge bolts attaching seismic safety devices to the bridge deck, the rods cracked. The surprising discovery of the cracked rods, some as long as 17 feet, led to an intensive investigation into how and why it happened and who was responsible, how the embarrassing problem could be fixed and whether - and when - it would be safe to open the bridge." Continue reading →

Continue ReadingLengthy, costly trail to Bay Bridge’s eastern span

It’s Official: New OVDP program designed for Swiss Banks

"The U.S. is clearly on a mission to confiscate assets throughout the world. In the beginning, there was OVDP for individuals. Now we have OVDP for banks. Coming soon, OVDP for financial advisors. Soon, we will all become Whistleblowers. The solution to this is for the U.S. to simply absorb all the other sovereign nations of the world. Once we become one country, there will be no more 'offshore accounts'. But, how would fines be imposed then? Conclusion and message to U.S. citizens abroad … You better enter OVDP before your bank does!" Continue reading →

Continue ReadingIt’s Official: New OVDP program designed for Swiss Banks

Fixing the fast-food strike

"If you are one of the concerned, caring, and vastly indignant activists behind this strike, I’m here to tell you that your social-justice problem has a simple solution. Take out a loan (or put together the money from your like-minded activist friends), buy a franchise from one of the chains, and hire workers at $15 an hour. There, that was simple, wasn’t it? You’ll make money hand over fist and demonstrate to all those eeevil corporations that they can too pay a 'just wage'; they just don’t want to because they’re greedy. The commercial landscape would be alive with virtuous workers’ collectives paying their members fat wages and thumbing their noses at top-hatted plutocrats. Why doesn’t this happen?" Continue reading →

Continue ReadingFixing the fast-food strike

Bitcoin-friendly Internet Credit Union suddenly dumps accounts: ‘regulatory issues’

"The Internet Archive Federal Credit Union, an experimental financial institution run by the eponymous nonprofit that archives web history, has established itself as a Bitcoin haven. In contrast to traditional banks, which snubbed businesses built around the virtual currency, the IAFCU basically put up a Bitcoin welcome sign. 'These are not drug dealers, money launderers, or whatever. These are average folks,' IAFCU CEO Jordan Modell told Wired. That all changed yesterday, however, when the credit union announced it will be dumping its Bitcoin clients." Continue reading →

Continue ReadingBitcoin-friendly Internet Credit Union suddenly dumps accounts: ‘regulatory issues’

David Galland: Mexico Invades Syria!

"Could the attack trigger a quick and violent sympathetic public uprising in Saudi Arabia, sending the Saud family on the run and oil prices to $200 or more? In terms of consequences of a less violent nature, what if the Russians and the Chinese, the latter being Syria's largest trading partner, decided to protest by dumping some of the massive amount of US dollars they hold? I could go on, but won't. Instead, I'll leave off by saying that, given the risks vs. the rewards of yet another Western attack on the Middle East, I personally couldn't be more opposed to it. Hopefully there are enough people in what's left of the degraded Western democracies who feel the same way." Continue reading →

Continue ReadingDavid Galland: Mexico Invades Syria!