Middle Class Dismissed

Overcharge: 29 States Mandate High-Cost “Green” Power Generation

"Of the 50 states in the United States, 29 of them have state laws mandating renewable energy programs for local power generation plants. The trouble is, these alternative fuels are expensive. Natural gas costs have fallen by 70% since 2005. Fracking has made the difference. New supplies have lowered natural gas prices. This means that the 29 states are prohibited from buying low-cost, clean-burning natural gas. This raises the cost of electricity. In only 16 of these states have state legislators begun to discuss the possibility that these laws are economically foolish." Continue reading →

Continue ReadingOvercharge: 29 States Mandate High-Cost “Green” Power Generation

Blocked at U.S. border, Canadian expat lives out of his car in South Surrey

"Home to his fiancée and her 14-year-old son in Blaine, Wash.; and home to all his possessions, currently packed and awaiting transfer to Ohio, where he and his new family were planning to move last month to start a new life. Instead, for the better part of three weeks, home for the 45-year-old Ontario native – who asked to be identified only by his first name – has been the backseat of his Acura TL, which he’s been living in with his dog since being denied re-entry into the United States on April 16, a day after the Boston Marathon bombings." Continue reading →

Continue ReadingBlocked at U.S. border, Canadian expat lives out of his car in South Surrey

Florida Increases Red Light Camera Fines To $408 Instead Of Banning Right-On-Red Tickets

"The Florida Legislature on Thursday gave final approval to legislation limiting the due process available to recipients of red light camera tickets and increasing the potential penalty for those challenging a fine to $408. The changes were included in a 220-page omnibus transportation bill which saw more than sixty amendments considered. The final package was adopted unanimously in the state Senate. Earlier in the day, the House had approved language that would have entirely banned right turn on red tickets, which remain a major source of revenue for municipalities. This was stripped out and replaced with a less significant provision." Continue reading →

Continue ReadingFlorida Increases Red Light Camera Fines To $408 Instead Of Banning Right-On-Red Tickets

Government’s New Regulation That Screws Corporate Pensioners

"The latest is a new government regulation that was snuck into a transportation bill, Moving Ahead for Progress in the 21st Century, aka, MAP-21. Some progress, the bill requires corporations to calculate payments into pensions based on a 25-year average on interest rates, instead of current rates. In other words, with current low rates, corporations in reality need to make larger contributions to meet pension fund growth goals. But according to new government regulations, corporations now need to calculate pension fund payments based on an interest rate earned on pension assets that can't possibly be earned." Continue reading →

Continue ReadingGovernment’s New Regulation That Screws Corporate Pensioners

David Galland: Chains of Convention

"It behooves us all to periodically stop and examine our life path. What's missing in your life? What seemingly never gets fixed, and unfixed, makes your unhappy or unfulfilled? On examination, you may find that the problem is that you are adhering to convention, and doing so at great personal cost. Nancy did something that probably not one in a half a million people in her circumstances would have done – break the chains of convention and set out to enjoy the remaining years of what is likely to be a much longer life as a free and independent woman." Continue reading →

Continue ReadingDavid Galland: Chains of Convention

IRS Data Web Snares Mostly Low- and Middle-Income Taxpayers

"The IRS's next phase in high-tech tax collection will be to create a 'real-time' check of tax returns to 'match them to third party information.' Starting this year, the IRS tools will be able to track all credit card transactions. The agency has also instructed agents on using social media and e-commerce sites including eBay, as well as the rich data generated by mobile devices. Its computers are capable of scanning multiple networks at the same time to collect 'matching' comprehensive profiles for every taxpayer in America. Such profiles include shopping records, travel, social interactions, health records and files from other government investigators." Continue reading →

Continue ReadingIRS Data Web Snares Mostly Low- and Middle-Income Taxpayers

Bill Bonner: Fed’s QE has not created one single extra job

"Our central banks are engaged in a breathtaking program of activism. We don't know where it will lead. But, from the historical record, activism and central banking go no better together than drinking and driving. Keep it up long enough and you're bound to have an accident. But the accident hasn't happened yet. So most people have stopped worrying about it. They smell the liquor on the driver's breath. But they get on the bus anyway. The most reckless driving in central bank history...raising the footings of the US financial system by a factor of 5 times...from $800 billion to $4 trillion...and it has not resulted in one single extra job." Continue reading →

Continue ReadingBill Bonner: Fed’s QE has not created one single extra job

Suicide rate among the middle-aged rises sharply in U.S.

"Suicide rates among US adults aged 35-64 are on the rise — with more Americans now taking their lives than dying in car accidents, according to official statistics released Thursday. Motor vehicle accidents killed 33,687 people in 2010 — well below the 38,364 who died from suicide in the same year, the Centers for Disease Control and Prevention said. The spike in suicides was seen exclusively among US adults aged 35-64, who saw a 28 percent rise over the last decade, the CDC added. And the numbers were even more stark for those in their 50s, who saw a nearly 50 percent jump in suicide rates." Continue reading →

Continue ReadingSuicide rate among the middle-aged rises sharply in U.S.

Banking Crisis Awakens Hopes for Cyprus Reconciliation Between Turks and Greeks

"In 2008, when the Greek part of the island adopted the euro, the Turkish inhabitants of the northern part of the island felt duped. And, of course, this makes their schadenfreude regarding the southern part's current economic woes all the greater. 'With the referendum, the Greeks left us out in the cold. They wanted to profit from the euro by themselves,' says Efem Okiran, who runs a flower store in Gemikonagi. But now his neighbors can see what good that's done for them -- and where they've ended up. 'For 10 years, they made money thanks to the EU,' Okiran adds. 'And now they're supposed to bleed for 10 years.'" Continue reading →

Continue ReadingBanking Crisis Awakens Hopes for Cyprus Reconciliation Between Turks and Greeks

Expat exodus from Spain as new tax law takes effect

"New Spanish tax laws affecting an estimated 200,000 British expats, have sparked panic, prompting some to leave the country or hand in their residence cards at town halls before today's deadline (30 April), fearing a Cyprus-style money grab. Opponents, including Spanish politicians, have branded the new asset declaration law discriminatory, and fear an exodus of EU residents from the fragile economies of the coastal towns. The Spanish government requires that any resident with an overseas asset worth more than €50,000 and who lives in Spain at least six months (183 days) of the year is affected – and must declare what they own abroad." Continue reading →

Continue ReadingExpat exodus from Spain as new tax law takes effect