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Terry330

Terry330
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  • Among Doug Kass' 15 surprises for 2013 will be new Senator Elizabeth Warren spearheading the introduction of a financial transaction tax. Combined with weak capital markets, reduced M&A activity, and narrow net interest margins, its makes the XLF and GS sells. [View news story]
    I remember many Tea Party members were voted out in November, just a handful left for the late night comedy writers.
    Jan 9, 2013. 08:42 AM | 1 Like Like |Link to Comment
  • Maybe what's got Wal-Mart (WMT) and Consumer Staples (XLP) so down in the dumps relative to the general market over the last month is the payroll tax hike allowed by the fiscal cliff deal. A FRBNY study finds workers spent 28-43% of 2011's payroll tax cut - that's money now going to D.C. instead of retailers. "We continue to be baffled that politicians on both sides agreed ... this was a good idea," writes Cardiff Garcia. [View news story]
    Such a small tax increase, no change in spending, as worker wages grow.
    Jan 7, 2013. 05:21 PM | Likes Like |Link to Comment
  • Market recap: Wall Street celebrated the last-minute budget deal, renewing enthusiasm for risk assets and pushing the Dow to its best one-day point gain since July 2011. But opinions vary widely over how long the sugar high will last. Treasurys saw heavy selling, with 30-year and 10-year yields jumping to respective multi-month highs of 3.046% and 1.839%. [View news story]
    Its the Obama rally.
    Jan 2, 2013. 04:43 PM | Likes Like |Link to Comment
  • The House will vote on the unamended Senate bill at 9 PM ET, reports CNN's Dana Bash. Any attempt to alter the bill by adding spending cuts has reportedly been abandoned for now. Update at 9:10: The vote has been pushed back to 11 PM ET. [View news story]
    Republicans know in their heart that President Obama is a world leader and will do whats right for 98% of American families. GOP is in serious decline,with all their extreme positions against workers-women-poor-eld...
    Jan 1, 2013. 08:36 PM | 8 Likes Like |Link to Comment
  • Fiscal cliff negotiations between Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell hit a major snag after Republicans demand use of the "chained CPI" method for calculating entitlement benefits - which would result in lower payments for Social Security beneficiaries. Pres. Obama backed the provision previously, but Democrats now object to including it as part of a scaled-down deal. Updated 5:51 p.m.: The Senate won't vote tonight and will reconvene at 11 a.m. tomorrow, Reid says. [View news story]
    No cuts in elderly social security to cut taxes again for the top 2%. Shame on Republicans, American voters will remember.
    Dec 30, 2012. 04:09 PM | 12 Likes Like |Link to Comment
  • Pres. Obama says he'll ask Harry Reid to put a "basic package" on the floor for an "up-or-down vote," should Congress fail to reach a deal. Congressional leaders suggest an afternoon meeting with Obama went well, but Wall Street isn't convinced the fiscal cliff will be avoided. Equity futures have added to their losses following the close. [View news story]
    President Obama wants to move America foreword, Republicans want to move the top 2% to take more from middle class workers.
    Dec 28, 2012. 06:26 PM | 10 Likes Like |Link to Comment
  • A port strike looms this weekend that could paralyze cargo traffic from Maine to Texas. Nearly all retailers could be affected, but none more than Home Depot (HD) and Lowe's (LOW) as Christmas comes in spring for the home-improvement industry. The President has the power to force workers back on the job, but the White House is mum at this point. [View news story]
    Keep America strong: Union jobs.
    Republicans preach daily that minimum wage (7.25 hour) jobs and food stamps-Medicaid-public housing-paying no federal taxes, is the way to great prosperity for workers.
    Dec 28, 2012. 08:11 AM | Likes Like |Link to Comment
  • “All eyes are on the Senate in the next 48 hours,” says Guggenheim’s senior policy analyst Chris Krueger. President Obama and Senate Majority Leader Harry Reid are putting together a scaled-down deal to blunt the fiscal drag scheduled after December 31, and it's going to take 60 votes - including at least seven Republicans - to clear a filibuster. Republican House Speaker Boehner says the House will consider whatever legislation the Senate passes. [View news story]
    Republicans in Washington refused to raise taxes on 1/2 of 1% of Americans, ( one million plus income) this proves what they think of 99 1/2% of families. Go to He**.

    In two years Conservatives will only be in history books.
    Dec 26, 2012. 07:45 PM | 11 Likes Like |Link to Comment
  • If the U.S. goes over the fiscal cliff, the biggest impact in sheer dollars would land on relatively affluent households, but in terms of percentage of tax increases, low- and moderate-income taxpayers would face the biggest burden - an often overlooked part of the budget debate that’s beginning to draw attention as the year-end deadline nears. [View news story]
    House Republicans rejected a plan that would have left tax rates in place for all but those with incomes above $1 million.
    Dec 25, 2012. 08:44 PM | Likes Like |Link to Comment
  • If the U.S. goes over the fiscal cliff, the biggest impact in sheer dollars would land on relatively affluent households, but in terms of percentage of tax increases, low- and moderate-income taxpayers would face the biggest burden - an often overlooked part of the budget debate that’s beginning to draw attention as the year-end deadline nears. [View news story]
    Republicans will be blamed for going off the cliff, they only look out for top 2%, but spend billions on Washington lobbying for more tax cuts and lower wages in America. In two more years hard-line Conservatives ( unemployed) will be walking the streets with their assault-rifles and bibles selling both.
    Dec 24, 2012. 06:44 PM | 5 Likes Like |Link to Comment
  • Lawmakers in the U.S. see a quick-patch solution as the best hope of averting the automatic tax increases and spending cuts set to hit on January 1. Over the weekend the blame game was in full cycle while key Senators hit the talk TV circuit. The last word from President Obama is that he would immediately sign a bill into law extending tax cuts for those making $250K or less. [View news story]
    President Obama is always looking out for the average American family. He believes the top 2% can always buy whatever they want.
    Dec 24, 2012. 08:25 AM | 2 Likes Like |Link to Comment
  • Plan C. Acknowledging there is no time to craft a "grand bargain" before year end, the President urges Congress to pass a stopgap measure, saying he'll immediately sign a bill allowing unemployment benefits to continue and preventing tax hikes on those with income under $250K/year. [View news story]
    Thanks to Republicans, most new jobs and millions of others now qualify for food stamps, while wealthy pay a 58 year low in taxes.
    Dec 22, 2012. 01:40 PM | 7 Likes Like |Link to Comment
  • Plan C. Acknowledging there is no time to craft a "grand bargain" before year end, the President urges Congress to pass a stopgap measure, saying he'll immediately sign a bill allowing unemployment benefits to continue and preventing tax hikes on those with income under $250K/year. [View news story]
    Republicans are going the way of Kodak.
    Dec 22, 2012. 08:36 AM | 14 Likes Like |Link to Comment
  • First, it was the fiscal cliff. Now, get ready for the "container cliff," as the threat of a longshoremen's strike that could close 15 major ports along the Atlantic and Gulf coasts - including the port of New York and New Jersey - has the shipping, manufacturing and retail industries warning of a "devastating blow" to the supply chain. Like the fiscal cliff, the deadline is approaching fast: Dec. 29. [View news story]
    Most union members are striking over job safety/insurance issues. What America doesn't need is more minimum wage workers on food stamps and Medicaid, which is the Conservative poster-boy worker.
    Dec 21, 2012. 06:46 PM | 1 Like Like |Link to Comment
  • The right-to-work bill in Michigan awaiting Governor Snyder's signature won't have any impact on the bottom line of the Big Three anytime soon, but could pull at the thread of the organized labor movement in the state, according to analysts. With the unions able to flex their muscles with the Detroit automakers historically, the question now centers on if future labor negotiations could be influenced, if even just a shade? [View news story]
    Fact:

    “Right to Work” Laws Don’t Improve Living Standards – Unions Improve Living Standards

    Overall, union members earn 28 percent ($198) more per week than nonunion workers. Hispanic union members earn 50 percent ($258) more each week than nonunion Hispanics and African Americans earn 29 percent ($168) more each week if they are union members.
    Dec 10, 2012. 05:22 PM | Likes Like |Link to Comment
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