"An article at Investment News reports on the decline of independent small brokerage firms. These firms are squeezed by new regulations. The large firms have teams of lawyers that can deal with the changing regulation, not so for the smaller firms, so they get squeezed out of business. It's this type of regulation that results in the rich getting richer and others falling behind." Continue reading →
"When President Barack Obama signed the Dodd-Frank financial reform bill into law three years ago, he promised it would encourage healthy change and competition. 'This reform will help foster innovation, not hamper it. It is designed to make sure that everybody follows the same set of rules, so that firms compete on price and quality, not on tricks and not on traps,' Obama said. How is that working out? It turns out that in the view of the head of one of the biggest banks in the United States, Dodd-Frank is helping the big banks by making the cost of regulatory compliance so high that smaller rivals cannot compete." Continue reading →
"'The housing market has been declining for something like six years now, it could go on, that’s my worry,' Shiller said in Davos, Switzerland. 'The short-term indicators are up now, it definitely looks better, but we saw that in 2009.' 'It’s a good housing market in the sense that mortgage rates are very low and prices have come down to normal levels, so yes, it’s a good time to buy if nothing bad happens,' Shiller said. 'But it’s also a very bad housing market in that most of the mortgages are being supported by the government, and we have the Fed and this buying program. It’s a very abnormal market. There’s a lot of uncertainty going forward.'" Continue reading →
"On Sunday January 6th Staff Sgt. Nathan Haddad, a decorated combat veteran, was driving through Jefferson County New York when he was randomly pulled over for a vehicle check. Haddad, who had five 30 round empty magazines in his possession, was arrested by the Jefferson County Sheriff’s Department and charged with five felony counts. According to Haddad’s brother, Michael Haddad, Nathan thought these magazines were legally made before the New York Assault Weapons Ban. When Nathan Haddad was arrested the new ban had not even been fully enacted yet." Continue reading →
"It looks like Obamacare is having some negative effects on the industry it was intended to help. Dr. Nick Turkal, CEO of Wisconsin-based non-profit health care provider Aurora Health Care, announced job cuts due to Obamacare. Orlando Health, a Florida network of community and specialty hospitals, said it would be laying off 400 employees due to new Obamacare costs. Likewise, small medical device company ADM Tronics says Obamacare will mean the company will have to lay off employees for the first time in over a decade. Hospitals and insurance companies alike are expected to receive a large influx in payments due to the new health law." Continue reading →
"For many years, California entrepreneurs and investors have taken advantage of the deduction. But now the state has apparently decided that it no longer needs to encourage entrepreneurs to start and keep their companies in California. So it is eliminating the tax deduction. Far more startling, the state is eliminating the deduction retroactively--going all the back to 2008. In other words, anyone who sold their California company in the past 5 years and took advantage of the tax deduction is now going to have to pay the tax. With interest!" Continue reading →
"...Marthe Kent, OSHA's director of safety standards program and head of the ergonomics effort, couldn't be happier at her job. 'I like having a very direct and very powerful impact on worker safety and health,' she recently told The Synergist, a newsletter of the American Industrial Hygiene Association. 'If you put out a reg, it matters. I think that's really where the thrill comes from. And it is a thrill; it's a high.' Later in the article, she adds, 'I love it; I absolutely love it. I was born to regulate. I don't know why, but that's very true. So as long as I'm regulating, I'm happy.'" Continue reading →
"This is really a great interview and very refreshing to hear as Whole Foods co-CEO John Mackey not only defends capitalism and free markets but tells Greta that the problem with the world isn’t that there’s too much capitalism, but that there’s not enough of it." Continue reading →
"Investors who own French shares are selling them and taking positions on them through derivatives instruments such as contracts for difference, structured products and ETFs, according to a Paris-based lawyer. 'Most structured transactions remain outside the tax,' he says. 'It is due only if you have actually purchased the shares.' In other words, instead of curbing excessive speculation, the tax is simply forcing those speculative activities into darker, less-regulated corners of the market." Continue reading →
"In an official statement published on the group’s website, the current leader of Al Qaeda said that Congress’s conduct during the so-called 'fiscal-cliff' showdown convinced the terrorists that they had been outdone. Mr. al-Zawhiri said that the idea of holding the entire nation hostage with a clock ticking down to the end of the year 'is completely insane and worthy of a Bond villain.' 'As terrorists, every now and then you have to step back and admire when someone else has beaten you at your own game,' he said. 'This is one of those times.'" Continue reading →