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kmi

kmi
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  • The redistribution of world income set in motion by the oil spike makes for only one clear winner - the oil exporter - and is likely to hit the budget-strapped West much harder than emerging markets, a Reuters analysis notes. Of the big emerging economies, only Mexico, Russia and Brazil are likely to benefit from higher-priced crude.  [View news story]
    Mexico also heavily subsidizes the price of gas to its citizens. It's likely consumption won't go down as a result and that the net effect will not be positive.
    Feb 26, 2011. 10:57 AM | 2 Likes Like |Link to Comment
  • The redistribution of world income set in motion by the oil spike makes for only one clear winner - the oil exporter - and is likely to hit the budget-strapped West much harder than emerging markets, a Reuters analysis notes. Of the big emerging economies, only Mexico, Russia and Brazil are likely to benefit from higher-priced crude.  [View news story]
    It'll come back full circle don't worry, just like in 2008; we were exporting billions of extra dollars to the middle east as our domestic economy was collapsing, and those lovable, friendly, awesome folks in Dubai and Saudi Arabia came in and saved so many of our companies via investing with their sovereign wealth funds and whatnot.

    Of course now they own a nice chunk of our actual companies instead of just getting dollars to build oases in the desert, but that's OK.

    Maybe this time they'll help prop up our municipal market!
    Feb 26, 2011. 07:42 AM | 2 Likes Like |Link to Comment
  • A letter signed by mostly Republican foreign policy experts urges President Obama to call on NATO to send air and naval assets to Libya as soon as possible. Separately, Senators McCain and Lieberman ask for the establishment of a no-fly zone, and the abandonment of U.S. recognition of the Gaddafi government.  [View news story]
    I for one think it is fiscally responsible to invade yet another sovereign nation and spend billions blowing it up and trillions creating a caretaker government that will safeguard our oil instead of investing in domestic infrastructure or avoiding growing the national debt or anything else silly and irresponsible like that.
    Feb 25, 2011. 10:37 PM | 1 Like Like |Link to Comment
  • U.S. companies shouldn't worry about inflation if they're planning on expanding their business, Obama says at the first meeting of his Council on Jobs and Competitiveness. "We're not seeing a broad-based inflation trend." At the meeting, Geithner says substantial world oil reserves should help with any disruptions to oil supplies.  [View news story]
    That dear sir (or madam) is a fair analysis and good discourse!
    Feb 25, 2011. 06:27 PM | 2 Likes Like |Link to Comment
  • Mary Meeker, former "Queen of the Net" turned venture capitalist, urges taxpayers to think of themselves as shareholders in USA Inc. - a debt-laden, bloated corporation. Medicare and Medicaid are the real “crushers” to solvency, she says, and their reform should be top priority. "We have big issues, but the U.S. is in sounder shape than Apple (AAPL) was in 1997."  [View news story]
    That's fair;

    My suggestion is mostly that whenever someone starts talking about tax and income distribution it inevitably leads to "my fair share rhetoric."

    I'll suggest several things -

    If your comment about the 70-90% being able to send someone else the bill, actually DID - i.e. VOTED to, the side combating this wouldn't have a prayer to stop it. However, history shows that this is not the case.

    The let's say 70% who can theoretically vote to send the bill to the upper class don't. The reason is complicated, but it is in part because of ideology, in part because of stupidity, in part because of lack of education and resources, in part because they don't vote, and in large part because the top 10% of earners in the country wield power completely out of whack with the 1 person 1 vote ideal of the founding fathers.

    The worst part about an arguement based around taxation, is that the MIDDLE CLASS pays a disproprotionate percentage of INCOME under the tax code; the top percentages may pay more in a dollars and cents sense, byt the actual take home of the middle class is lower.

    So you can consider income and tax revenue in an arguement but once you strip away the BS it hardly stands as a way to objectively look at the US.

    The biggest fiasco is that any increase in the national tax burden routinely disproportinately falls upon the backs of the middle class, since low income earners pay nothing and the wealthy pay lower effective tax rates. Couple that with an effective wealth trasfer over the last decade and inparticular as a result of the recent financial crisis from the middle to the kleptocrats and the picture is worse.

    My comment was mostly in consideration of all that, and more. It doesn't come out to $143,000/capita, but is a bell curve rising from nothing at the lowest end of the tax and income, to the heaviest burden falling squarely on the middle, and decreasing back to virtually meaningless numbers for the wealthy.

    And you're right - I'm one of the guys who get hit with high rates - since my income is income, not capital gains or dividends - and I'm located in an area which has had the highest tax rates in the nation for a long time (Westchester NY).

    And you know what? The lower income brackets have been too stupid to vote to their benefit, too uneducated, too ideological, too poor to take the time, or too brainwashed.

    But enough is enough, we finally got the right people in power. Republican Rob Astorino our county executive is kicking ass, having proposed a 1% decrease on taxes with a balanced budget free of gimmickry (not sure what came of it); Democrat Cuomo is proposing property tax caps and is aggressively hammering his proposals in Albany right now.

    If we could somehow gets guys like these in the freaking FEDERAL governemnt instead of the clowns there now the country would be in much better shape.

    Didn't intend to go off at this length, that's why I made a two sentence comment above, but you seemed you might be interested in what I had to say.
    Feb 25, 2011. 08:15 AM | 2 Likes Like |Link to Comment
  • U.S. companies shouldn't worry about inflation if they're planning on expanding their business, Obama says at the first meeting of his Council on Jobs and Competitiveness. "We're not seeing a broad-based inflation trend." At the meeting, Geithner says substantial world oil reserves should help with any disruptions to oil supplies.  [View news story]
    Good plan that, don't attack his argument attack him and his credibility...
    Feb 24, 2011. 05:23 PM | 1 Like Like |Link to Comment
  • Motorola Mobility (MMI -0.9%) gets sued by Xoom Corp., an online money-transfer company, over selecting the same name for its tablet computer that goes on sale today.  [View news story]
    Much like Apple/Intel's new Thunderbolt too.
    Feb 24, 2011. 05:18 PM | Likes Like |Link to Comment
  • Foreclosed homes sold at a slightly higher discount last year - 28% - but made up a smaller percentage of home sales overall (26% of sales, vs. 2009's 29%), RealtyTrac reports. A "bloated supply of foreclosures" is still weighing on housing and filings may rise 20% this year to a peak. (New home sales, housing prices)  [View news story]
    Foreclosures losing their luster in my area cause of the high costs to make em livable, prices gotta go down down down...

    Let's go!
    Feb 24, 2011. 05:18 PM | 1 Like Like |Link to Comment
  • Bullish sentiment among individual investors takes a dive (-9.9 points to 36.6%), dropping below its historical average for the first time in six months. With neutral sentiment mostly the same at 27.2%, bears picked up the former bulls, rising 10.7 points to 36.2%.  [View news story]
    With the bears mostly gone from SA it's time to be a...
    Feb 24, 2011. 05:16 PM | Likes Like |Link to Comment
  • Mary Meeker, former "Queen of the Net" turned venture capitalist, urges taxpayers to think of themselves as shareholders in USA Inc. - a debt-laden, bloated corporation. Medicare and Medicaid are the real “crushers” to solvency, she says, and their reform should be top priority. "We have big issues, but the U.S. is in sounder shape than Apple (AAPL) was in 1997."  [View news story]
    Seriously? You are building an argument supported by the fiasco of what the US tax system has become?

    Funny.
    Feb 24, 2011. 05:15 PM | 1 Like Like |Link to Comment
  • The U.S. government, which still owns 33% of General Motors (GM -4.7%), hopes to exit its stake quickly without waiting to maximize returns, Detroit News reports. "The writing is clearly on the wall" that the government wants out, Council of Economic Advisers chairman Austan Goolsbee says. Shares drop through their IPO level after the automaker misses its earnings number.  [View news story]
    Uh oh...

    "WASHINGTON — The emergency bailout of General Motors and Chrysler announced by President Bush on Friday gives the companies a few months to get their businesses in order, but hands off to President-elect Barack Obama the difficult political task of ruling on their future."

    www.nytimes.com/2008/1...

    Funny....
    Feb 24, 2011. 05:10 PM | 3 Likes Like |Link to Comment
  • Why you really can't swap Libyan oil for Saudi, according to Barclays: the grades and quality of crude available from Saudi Arabia are different from Libya, and the time it takes to bring those Saudi barrels to market likely will be significantly longer compared to ongoing Libyan production. "Thus, the concept of a barrel for barrel replacement is not a correct one."  [View news story]
    Keep the alarmism going... whatever it takes...
    Feb 24, 2011. 05:07 PM | 1 Like Like |Link to Comment
  • Apple (AAPL +0.2%) announces its MacBook Pro revamp, with new Intel (INTC +0.9%) processors with four separate CPUs on the chip and new technology for connecting peripherals. UBS reiterates its Apple buy recommendation and $465 price target. Advanced Micro Devices (AMD +6.3%) boosts its ties with Apple via its Radeon graphics chips in MacBook 15-inch and 17-inch models.  [View news story]
    But... but... but... no SD card, or SIM slot!

    Don't want it!
    Feb 24, 2011. 05:05 PM | Likes Like |Link to Comment
  • Oil plunges more than $2 in minutes on a rumor that Gaddafi has been shot. WTI crude is now $7 off of its high from earlier today - $97/barrel. OIL -1.2%. BNO -0.5%.  [View news story]
    A Somalia like power vacuum will not be good for oil hah...

    There is this sense of his impending death or stepping down, but no credible successor has emerged or stepped forward, so this is going to be a mess no matter which what the trajectory.
    Feb 24, 2011. 04:47 PM | 1 Like Like |Link to Comment
  • The U.S. must address long-term fiscal issues, but "it does not face an immediate fiscal crisis," Simon Johnson writes; the sense of crisis exists because of a lack of leadership on both sides of the political elite. As problems of dangerous big banks, out-of-control health care spending, and an antiquated tax system are ignored, "we are well on our way to a real crisis."  [View news story]
    The "sense of crisis" exists because the Dems and Reps have no inclination at all whatsoever to engage in non-partisan politics...

    He says it best here:

    "But the problem here is bipartisan — as it was with the tax cut last year. None of the leadership on either side is willing to talk openly about how our biggest banks caused great fiscal damage. No one is willing to explain why our health care costs continue to rise. And no top politicians currently champion real tax reform."

    But he does make a lot of good points along the way.
    Feb 24, 2011. 04:45 PM | 3 Likes Like |Link to Comment
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