Middle Class Dismissed

A Real Life Thelma and Louise: the US and the EU

"To be sure, there have been many warning signs along the road to indicate that to exit the car might have been a good idea, but, for whatever reasons, they did not. Now, it is becoming increasingly apparent to a larger number of people that the joy ride is soon to end, and end rather badly. As such, it would be understandable if we were to see the passengers in the back of the car request that they be let out. As Europe has some 740,000,000 inhabitants and the US has a further 310,000,000, even if only one percent chose to make an exit at some time in the next few years, this would mean an exodus which would be unprecedented in world history." Continue reading →

Continue ReadingA Real Life Thelma and Louise: the US and the EU

New York auction houses celebrate after billion-dollar sales week

"Two of New York’s leading auction houses combined for the art world’s richest sales week ever, with works going under the hammer for a breathtaking total of more than one billion dollars. Christie’s reaped in more than $638 million dollars at its blockbuster contemporary art auction on Wednesday. Its staggering haul included a record $58.4 million for a Jackson Pollock drip painting, which shattered all previous records for the highest price for any work at an art auction. An official at Christie's said the record prices 'reflect a new era in the art market, wherein seasoned collectors and new bidders compete at the highest level within a global market.'" Continue reading →

Continue ReadingNew York auction houses celebrate after billion-dollar sales week

BitPremier Sells Luxury Goods For Bitcoin

"We've found a guy who claims to be putting his Trump Soho condo up for sale. And he will only take payment in Bitcoin. Later today, he will advertise the property exclusively on BitPremier, the first-ever online Bitcoin exchange exclusively for luxury goods. The site launches today. We recently spoke by phone with BitPremier founder Alan Silbert, who also serves as a VP for GE Capital, about the goals for BitPremier. He said purchasing options for people who own lots of Bitcoin have thus far been limited. Along with the choice condo, the site will also launch with a Bahamas villa, a Leroy Neiman artwork, and a high-end watch. A Ferrari and Mercedes are also imminent." Continue reading →

Continue ReadingBitPremier Sells Luxury Goods For Bitcoin

Luxury Living: Wiesmann Cars Have It All

"Wiesmann is the leading manufacturer of puristic sports cars. The name is well established in the luxury market and there are more than a thousand good reasons for that: Until today more than 1,500 handcrafteded cars left the Wiesmann factory. The company currently utilises dealership bases in Europe, the Middle East and Asia. With a bit of luck you might not only spot a Wiesmann in the Münsterland but also on the Champs Elysées in Paris or in front of the Burj Al Arab in Dubai. Those fortunate enough to hear, see or even drive a Wiesmann sports car will soon realise that there are more powers involved than just a strong engine." Continue reading →

Continue ReadingLuxury Living: Wiesmann Cars Have It All

Tesla Motors now more valuable than Italian auto giant Fiat

"The rocketing stock price of electric sports car maker Tesla made it more valuable than Fiat Tuesday — even though the Italian auto giant produces 200 times more cars than the American upstart. After a more than 50 percent gain in the past week, Tesla’s market value topped $10 billion, compared to the Turin giant’s $8 billion, as investors reacted to the company turning a profit in the first quarter and analysts boosting their forecasts. The shares were up 55 percent in one week and 150 percent since the beginning of the year, after struggling through 2012 on production delays and questions about whether it could turn a profit." Continue reading →

Continue ReadingTesla Motors now more valuable than Italian auto giant Fiat

Car Seats Only One: The Lamborghini Egoista

"Italian sports-car maker Automobili Lamborghini SpA unveiled a new vehicle called the Egoista, which is meant to mark its 50th anniversary, reports WSJ. The car, which seats one and has the look of a space ship (or a 17-year cicada), is powered by a 5.2-liter V-10 engine that puts out 600 horsepower. The company described its interior as a 'cockpit, designed like a tailor-made suit for the driver.' The driver’s compartment is built separately from the rest of the car to act as a 'survival cell,' inspired by the design of the Apache attack helicopter, the company said." Continue reading →

Continue ReadingCar Seats Only One: The Lamborghini Egoista

The Truth: Chained CPI Is Worse Than You Thought

"The proposal to change the measure of inflation used for federal programs to chained CPI, which rises more slowly than conventional inflation measures, is usually framed as a Social Security cut. And it is. The CBO estimates that it will save $133 billion in Social Security costs over 10 years. But it’s also a tax increase. Currently, the cutoffs for different tax brackets rise with CPI-U, a non-chained measure of inflation. Chained CPI would cause the cutoffs to rise more slowly, pushing more and more people into higher tax brackets. That raises $99 billion over 10 years. So about 43 percent of the deficit reduction from chained CPI comes from increased taxes." Continue reading →

Continue ReadingThe Truth: Chained CPI Is Worse Than You Thought

‘We could lose everything’: Tea Party groups prepare to sue IRS

"ACLJ Executive Director Jordan Sekulow told FoxNews.com he'll likely file the civil suits next Wednesday or Thursday on behalf of more than a dozen Tea Party groups who say they were singled out by the IRS and had their tax-exempt status severely delayed or denied altogether. Sekulow said the number of plaintiffs in the civil suit are growing as is the list of who his organization wants held accountable. It’s still unclear whether the organization will file as a class-action or individually in the 17 different states where the complaints originate. Litigation could take months or years and for some like Devereaux, time isn’t on their side." Continue reading →

Continue Reading‘We could lose everything’: Tea Party groups prepare to sue IRS

Insurers predict 100% to 400% Obamacare rate explosion

"Internal cost estimates from 17 of the nation's largest insurance companies indicate that health insurance premiums will grow an average of 100 percent under Obamacare, and that some will soar more than 400 percent, crushing the administration's goal of affordability. New regulations, policies, taxes, fees and mandates are the reason for the unexpected 'rate shock,' according to the House Energy and Commerce Committee, which released a report Monday based on internal documents provided by the insurance companies. The 17 companies include Aetna, Blue Cross Blue Shield and Kaiser Foundation." Continue reading →

Continue ReadingInsurers predict 100% to 400% Obamacare rate explosion

Insurers predict 100% to 400% Obamacare rate explosion

"Internal cost estimates from 17 of the nation's largest insurance companies indicate that health insurance premiums will grow an average of 100 percent under Obamacare, and that some will soar more than 400 percent, crushing the administration's goal of affordability. New regulations, policies, taxes, fees and mandates are the reason for the unexpected 'rate shock,' according to the House Energy and Commerce Committee, which released a report Monday based on internal documents provided by the insurance companies. The 17 companies include Aetna, Blue Cross Blue Shield and Kaiser Foundation." Continue reading →

Continue ReadingInsurers predict 100% to 400% Obamacare rate explosion