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Poor Texan

Poor Texan
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  • FOMC Announcement: No changes, with $85B/month in asset purchases and ZIRP remaining the monetary law of the land. New FOMC voter, Kansas City Fed chief Esther George, replaces the Richmond Fed's Jeff Lacker as a dissenting vote. The Fed blames a pause in the recovery on weather and other transitory factors. [View news story]
    "When we replace the current MSM cheerleader squad with actual journalists"

    Boy, don't hold your breath on that one. Those Washington cocktail parties are to lavish to give up for real work.
    Jan 30 07:03 PM | 2 Likes Like |Link to Comment
  • Smaller medical-device makers such as Cardica (CRDC) are tacking surcharges on to their products or warning of price increases to cover a 2.3% sales tax that came into force on Jan. 1 as part of Obamacare. Larger manufacturers like Medtronic (MDT) and GE Healthcare (GE) haven't explicitly added extra fees but are expected to bake them into contract renewals.
     [View news story]
    It's easier to influence the decisions of a few large companies than many small ones. Large government prefers large companies. It's the old Willie Sutton Rule.
    Jan 28 05:38 PM | Likes Like |Link to Comment
  • Credit Suisse (CS) could be liable for over $2B worth of damages for a $2.9B fraud at National Century Financial Enterprises - which collapsed in 2002 - District Judge James Graham has ruled. National Century's noteholders are suing CS, arguing that as placement agent, it should have know about the fraud. [View news story]
    Not Jon Corzine.
    Jan 27 09:00 PM | Likes Like |Link to Comment
  • Smaller medical-device makers such as Cardica (CRDC) are tacking surcharges on to their products or warning of price increases to cover a 2.3% sales tax that came into force on Jan. 1 as part of Obamacare. Larger manufacturers like Medtronic (MDT) and GE Healthcare (GE) haven't explicitly added extra fees but are expected to bake them into contract renewals.
     [View news story]
    Interesting thought!
    Jan 27 08:58 PM | 1 Like Like |Link to Comment
  • Consumers who buy phones from cellular carriers no longer have legal protection to unlock the devices so they can work on another operator's network. Under a change in regulation from the Library of Congress's Copyright Office that came into force yesterday, unlocking phones is not expressly permitted under law. "It may go to court some time, and then it will be up to a judge," says lawyer Mitch Stoltz. [View news story]
    Who is going to enforce this and how?
    Jan 27 08:54 PM | 1 Like Like |Link to Comment
  • A court ruling invalidating President Obama's "recess" appointments to a labor board could jeopardize the position of Richard Cordray, the Director of the Consumer Financial Protection Bureau, who was also a "recess" hire. The verdict could lead to the overturning of the CFPB's regulations and enforcement actions as well. It "creates chaos in the marketplace," says the Consumer Bankers Association. [View news story]
    If his majesty, oh excuse me, I meant to say the president, doesn't follow the laws, why should anyone else? Then again, maybe he just wants to abolish the courts and congress so we can move forward.
    Jan 27 08:50 PM | 1 Like Like |Link to Comment
  • Fitch warns that the "age bomb" in developed countries, including the U.S., will exacerbate indebtedness and could hurt credit ratings unless governments enact labor and pension reforms. European countries are particularly at risk, although "recent reforms in Portugal, Italy and Greece have effectively neutralized the long-term impact of aging on public finances." (Fitch report[View news story]
    But Biden and Hillary admire the policy.
    Jan 21 03:20 PM | Likes Like |Link to Comment
  • With his strategy of major monetary and fiscal stimulus, Japanese PM Shinzo Abe is taking a "huge gamble," says Ambrose Evans-Pritchard. Abe could help "lift the global economy out of the doldrums" or cause "a panic flight from bonds that overwhelms the Bank of Japan" and brings disaster to the banks. [View news story]
    Bernacke will figure out a way to bail him out.
    Jan 21 03:18 PM | Likes Like |Link to Comment
  • Gunmen have seized control of an oil tanker near Ivory Coast's port of Abidjan. The news comes after Algeria ended a siege at a gas plant in the Sahara. [View news story]
    My goodness! Somebody might actually think there is a war going on by the outlaws. But if we just ignore it, it will probably go away. :-(
    Jan 21 03:17 PM | 1 Like Like |Link to Comment
  • 3D Systems: A Sobering Reality [View article]
    Looks like some of the acquisition rationale is to eliminate competition and also become the B.M.O.C. with a technological moat. Might work; might not.
    Jan 16 10:28 PM | 3 Likes Like |Link to Comment
  • Repoed! How The Fed And Depositors Fund Banks' Big Bets [View article]
    In reflecting on this article and some good comments, the analogy I come up with is those of us in the market are playing against the umpires. Gonna be tough to score.
    Jan 15 05:09 AM | 2 Likes Like |Link to Comment
  • Repoed! How The Fed And Depositors Fund Banks' Big Bets [View article]
    "you cant solve a debt problem with more debt."

    Have you informed Congress of this information?
    Jan 14 11:23 AM | 7 Likes Like |Link to Comment
  • Does Anyone Really Understand What Is Going On With Employment? [View article]
    Why keep talking about '65'. Full social security doesn't kick in until later.
    Jan 13 05:55 PM | Likes Like |Link to Comment
  • The budget deficit shrank to $260M in December from $86B in the same month a year earlier and came in well below consensus of $1B. The numbers were helped by tax payments being shifted to December to avoid higher rates in 2013, says Jefferies economist Thomas Simons. "We are still going to run fairly substantial deficits this year and in coming years," he adds. [View news story]
    "We are still going to run fairly substantial deficits this year and in coming years," he adds.

    A masterful understatement.
    Jan 13 12:04 PM | 2 Likes Like |Link to Comment
  • Avoid Paying Taxes The Warren Buffett Way [View article]
    A 'fair' taxing system would include an annual 'net worth' (ad valorem) tax that would tax the wealthy for the government providing the law and order for the protection of their assets.
    Jan 8 05:10 PM | 2 Likes Like |Link to Comment
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