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Poor Texan

Poor Texan
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  • Initial Jobless Claims: +18K to 354K vs. 340K consensus, 336K prior. Continuing claims +7K to 2.97M. [View news story]
    No recession. Just malaise.
    Jun 20 01:59 PM | Likes Like |Link to Comment
  • George Soros and his reflexivity principle would say easy access to ample credit is a necessary condition to fuel a property bubble. So what do we make of this story - seemingly lifted from 2005 - of  packed open houses, vanishing inventory, bidding wars, and soaring prices on U.S. real estate, but with a twist: Cash buyers. Nearly 33% of L.A. homes went for all-cash in Q1; in Miami, it was 65%. "I don't know where it's coming from, and I don't care," says an agent. [View news story]
    People don't want to hold dollars? And assume real estate will appreciate the way it did from Carter's inflation? Who knows.
    Jun 9 09:55 PM | Likes Like |Link to Comment
  • May Nonfarm Payrolls: +175K vs. consensus +170K, 149K previous (revised from +165K). Unemployment rate 7.6% vs. consensus 7.5%, 7.5% previous. [View news story]
    Our local electric cooperative is looking for linemen.
    Jun 7 01:51 PM | Likes Like |Link to Comment
  • The Guardian of London has posted a copy of a "top secret" court order instructing Verizon (VZ) to provide the U.S. National Security Agency (NSA) with records of all calls made within the U.S. or originating in the U.S., through July 19, 2013. The accompanying article says the order went into effect on April 25 affecting millions of Verizon customers. In the exclusive article, the Guardian says that it is likely, though unknown, that other U.S. carriers are also affected. [View news story]
    Transparency.
    Jun 5 11:35 PM | Likes Like |Link to Comment
  • PVR Partners, L.P. Enters Consent Agreement with Pennsylvania DEP [View article]
    A $150,000 fine for bad weather? Ah to be a lawyer and have an avenue for imagination.
    Jun 4 03:27 PM | Likes Like |Link to Comment
  • Economist Laurence Ball says central bankers' goal of 2% inflation is misguided, among other reasons, because it leaves them with very little ammunition to fight future recessions. But would 4% inflation hurt the economy? History suggests not. [View news story]
    Why is it your country?
    May 26 08:56 PM | 2 Likes Like |Link to Comment
  • Economist Laurence Ball says central bankers' goal of 2% inflation is misguided, among other reasons, because it leaves them with very little ammunition to fight future recessions. But would 4% inflation hurt the economy? History suggests not. [View news story]
    Consumers with money create jobs. How about the government just giving every citizen a couple of thousand dollars? That would juice consumption. :-(
    May 26 08:54 PM | Likes Like |Link to Comment
  • California's got a new problem: Too much money. This year's expected surplus of $1.2B-$4.4B comes three years after the state faced a deficit of nearly $60B. Governor Brown - arguing the surplus is the result of a flood of capital-gains realizations ahead of higher 2013 tax rates - wants to put the money aside. The legislature - dominated by Brown's own party - wants to spend it. [View news story]
    Gee a surplus? But I didn't see a tax cut among the options. lmao
    May 26 08:45 PM | Likes Like |Link to Comment
  • Apple's (AAPL) effective tax rate of 14% is just a smidgin lower than IBM at 15% and Google (GOOG) at 17%. And Apple's hardly on the lowest rung: Amazon's (AMZN) rate is just 6%, Ford's (F) 3%, and Carnival's (CCL) just 1%. In trying to untangle what S&P 500 companies pay in taxes, David Leonhardt finds top executives are exceptionally shrewd at holding tax rates down. (infographic[View news story]
    Just asking the right questions!
    May 26 08:19 PM | Likes Like |Link to Comment
  • Reuters’ Robert Campbell thinks Keystone XL (TRP) has become a victim of political posturing and says a rival plan, ETP's Trunkline, is being held to a far lower standard thanks to an incoherent U.S. environmental policy. But if a pipeline isn’t built, crude will move by more carbon intensive methods that also are susceptible to accidents. Indeed, moving oil by road or rail is no longer seen as a stopgap until pipelines are built. [View news story]
    Especially with gerrymandering and outright vote fraud. Oh wait. That's not a laughing matter.
    May 26 08:10 PM | 1 Like Like |Link to Comment
  • Apple's (AAPL) effective tax rate of 14% is just a smidgin lower than IBM at 15% and Google (GOOG) at 17%. And Apple's hardly on the lowest rung: Amazon's (AMZN) rate is just 6%, Ford's (F) 3%, and Carnival's (CCL) just 1%. In trying to untangle what S&P 500 companies pay in taxes, David Leonhardt finds top executives are exceptionally shrewd at holding tax rates down. (infographic[View news story]
    Just the difference between what is legal and what is right.
    May 25 05:27 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Good post but think of all the well paid C.P.A.s and lawyers you'd put out of work. Have you no heart? :-)
    May 21 09:37 AM | 3 Likes Like |Link to Comment
  • What Inflation Means To You: Inside The Consumer Price Index [View article]
    So I guess a stable dollar, which is a prerequisite for long-term savings goals, is a pipe dream and it's a roll the dice approach to your retirement hopes.
    May 18 07:03 PM | Likes Like |Link to Comment
  • In what has been dubbed as largely a symbolic vote, the House of Representatives did what was expected and opted to repeal the health-care overhaul law, but it's is likely be dead in Congress’s lower chamber. The vote was 229 to 195 to repeal the measure, with two Democrats voting along with the Republican majority: Mike McIntyre of North Carolina and Jim Matheson of Utah. Sidenote: This is the 37th attempt to repeal the law since it was passed in March 2010. [View news story]
    Because, as we see in Belgium and the Netherlands, costs are controlled by euthanizing the elderly.
    May 16 10:28 PM | 3 Likes Like |Link to Comment
  • In what has been dubbed as largely a symbolic vote, the House of Representatives did what was expected and opted to repeal the health-care overhaul law, but it's is likely be dead in Congress’s lower chamber. The vote was 229 to 195 to repeal the measure, with two Democrats voting along with the Republican majority: Mike McIntyre of North Carolina and Jim Matheson of Utah. Sidenote: This is the 37th attempt to repeal the law since it was passed in March 2010. [View news story]
    And Mexico!
    May 16 10:26 PM | Likes Like |Link to Comment
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