Resistance

Watch As City Changes Parking Signs Then Issues Tickets To Cars That Had Been Parked Legally

"Once you find a spot and check all the signs, you should be good, right? Not if the city comes by and changes the signs on you. CBS 2 in New York has security camera footage of this exact thing happening outside of a Manhattan building recently. Cars parked along one side of the street shown in the video are parked legally when the video begins. But as you can see on the video, a city employee comes in and installs a new No Standing Anytime sign. And within 25 minutes of that sign going up, a parking enforcement officer is swooping in to issue tickets — $115 each — to cars that had been legally parked before the sign was changed." Continue reading →

Continue ReadingWatch As City Changes Parking Signs Then Issues Tickets To Cars That Had Been Parked Legally

IRS head Lois Lerner invokes 5th Amendment but may be compelled to testify anyway

"The woman at the center of the IRS scandal refused to testify to Congress on Wednesday, but House Republicans said Lois Lerner botched her attempt to invoke her right against self-incrimination and said they likely will force her to come back and explain why the agency targeted conservative political groups. Ms. Lerner’s refusal to testify shifted attention to her onetime boss, former Commissioner Douglas H. Shulman, who apologized to the House Oversight and Government Reform Committee but refused to take responsibility, leaving furious lawmakers warning that the Internal Revenue Service could end up facing a special prosecutor." Continue reading →

Continue ReadingIRS head Lois Lerner invokes 5th Amendment but may be compelled to testify anyway

Head of the IMF Christine Lagarde in court charged with embezzlement and fraud

"Lagarde faces a maximum sentence of 10 years in jail if found guilty of the very serious charges. It was when she was President Nicolas Sarkozy’s finance minister that she is said to have authorised a 270 million pounds payout to one of his prominent supporters, so abusing her government position. The money went to Bernard Tapie, a convicted football match fixer and tax dodger who supported Lagarde and Sarkozy’s UMP party. It came after Dominque Strauss-Kahn, another senior French politician, was sacked as IMF chief following allegations that he attempted to rape a chambermaid in a New York hotel." Continue reading →

Continue ReadingHead of the IMF Christine Lagarde in court charged with embezzlement and fraud

Miss a Little … Miss a Lot

"Goldman Sachs and Franklin Templeton recently published separate studies that analyzed investment returns over the 20-year period from 1992-2011. The results were astounding — even for me, a 30-year market veteran. During this 20-year period, made up of 5,046 trading days, the market returned an average of 7.81 percent per year. However, if you missed the 10 best days during those two decades, your annual return dropped to 4.14 percent. If you missed the best 30 days, your average annual return actually turned negative — coming in at -0.39 percent. And if you missed the best 40 days, your returns fell even further to -2.31 percent." Continue reading →

Continue ReadingMiss a Little … Miss a Lot

Sam Zell says sell

"At least one notable investor thinks we may be in bubble trouble again. Sam Zell on Thursday at the SALT hedge fund conference in Las Vegas said stocks are due for a fall. The legendary real estate investor thinks the market is out of touch with what is really going on in the economy. 'Right now you are buying at an all-time high,' says Zell. 'And there are times when stocks hit a high, and then go higher, but that's when you have a good economy.' By contrast, Zell said the companies he runs and looks at are still struggling to increase sales. Zell said he was worried about problems in the Middle East and recent aggressive efforts by the Bank of Japan." Continue reading →

Continue ReadingSam Zell says sell

Where’d All the Fear Go?

"There are periods when a given market pegs so far to one extreme or the other that it becomes hard to ignore. Such is the case with the market that measures fear – known by stock investors the world over as 'VIX.' VIX is telling us that fear – at least as it relates to stock prices – is dirt cheap. With what we know about markets and human nature, we do not expect fear to remain cheap forever. VIX is the symbol for the Chicago Board Options Exchange (CBOE) Volatility Index. It measures the volatility embedded into options traded on the S&P 500 (SPX) and reflects investors' 30-day consensus view of the future." Continue reading →

Continue ReadingWhere’d All the Fear Go?

Is This the Best Time for Investors? Don’t Bet On It.

"The stock market is expecting a massive new economic boom, with accelerating growth, widening prosperity and expanding profit margins. Meanwhile, the bond market sees the economy remaining in a funk, with slow growth, widespread unemployment and low inflation. Obviously, they can't both be right. Ominously, though, they could both be wrong. For the first time in 50 years, U.S. investors in a balanced portfolio of stocks and bonds face the near-certainty that they will lose money on a large chunk of their investments, after accounting for inflation—and a significant risk that they will lose money on all of them." Continue reading →

Continue ReadingIs This the Best Time for Investors? Don’t Bet On It.

Credit Union: Bitcoin’s New Best Friends?

"The Internet Archive Federal Credit Union would like to help both the people who are setting up bitcoin exchanges and those who want to do business with them, navigating them through the regulatory landscape by setting up accounts that follow know-your-customer laws. Modell would also like to work to set up low-cost, overnight transfers between bitcoin exchanges and the bank accounts of their customers. This would be a much cheaper alternative to wire transfers, which can cost more than forty dollars each. Finally, Modell says the credit union may extend credit lines up to $5000 to individuals that are investing in bitcoin through these exchanges." Continue reading →

Continue ReadingCredit Union: Bitcoin’s New Best Friends?

Invest Like a Euro Zone Refugee

"The world is now witnessing a new refugee movement … but it’s not happening where you might think. These new refugees are not fleeing a war-torn province, or trying to escape from under the boot of a tyrant. They don’t need government aid. And they aren’t physically leaving their homes… Rather, these refugees are Italians, and they are fleeing their banks and their economy. Valter Badariotti, a banker with two small children, is one of the euro zone refugees. So is filmmaker Franco Fracassi. Both are worried about Italy’s economic deterioration and political morass. Sound familiar? It should … because it’s not far from what’s happening in the U.S." Continue reading →

Continue ReadingInvest Like a Euro Zone Refugee