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User 489326

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  • 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]
    mickmars I don't know where you get your rates but the "employee" rate is 6.2%. The only way you would pay 15.2% is if you are self employed. What I don't understand is why there is a cap on the amount of wages subject to FICA. What I would like to see is how much do wealthy receive in SS benefits vs how much they paid in. They are probably in the max benefit bracket. Now compare that to a low income wage earner and how much they paid in.
    Dec 31 01:13 AM | Likes Like |Link to Comment
  • Bloomberg reports Pres. Obama will offer a mini-deal to avert some of the effects of the fiscal cliff’s tax and spending changes, including delaying or replacing some automatic spending cuts scheduled to begin Jan. 1. A mini-deal could include a cap on tax increases at $400K in earnings and an alternative minimum tax patch. Stocks remain stuck in the red. [View news story]
    The Republicans want the US to go over the cliff. They have averted voting on the tax increases knowing full well they will get the chance to vote on some tax cuts. It's a perfect scenario for the a**holes. The can say they did not vote the tax increases making themselves look good all the while they have F'ed everybody in the country. That includes Republicans and Democrats. T'baggers are a bunch of spineless worms and need to be used as fish bait!
    Dec 28 03:00 PM | 1 Like Like |Link to Comment
  • Retail watchers keep a close eye on Target (TGT +0.6%) to see if the retailer matches the plans of Wal-Mart (WMT -0.2%) and Sears (SHLD +1.8%) to open up for Black Friday shopping on Thanksgiving evening. Last year, the company drew a fair amount of internal and external criticism for opening doors at midnight, but with Macy's, Kohl's, and Best Buy all choosing the midnight slot this year the pressure is on to keep an edge with another early start. [View news story]
    It won't be long until stores are open all day T'giving.
    Nov 9 12:21 PM | Likes Like |Link to Comment
  • "I am alarmed by the reflexive groupthink of our leaders," says David Einhorn, following Hugh Hendry at Buttonwood (live here). It's not that Fed policies are delivering a diminishing boost to growth, they're actually retarding it, he argues (anyone who has spent the last week listening to financial firms' earnings calls can attest to this). [View news story]
    Just to throw something in at random. Is the financial firms the only ones that count? Oh, one more thing. XLF is up 4.6% for Qtr 3 and is up,at the time I checked it 1.4% so far this Qtr. I would expect worse based on his commentary. Twenty three percent for the year too.
    Oct 25 01:06 PM | 1 Like Like |Link to Comment
  • "There was this mythology that you could get 90 computers, some Harvard PhDs, and you would turn on your machines and make money." High-frequency trading is falling in on itself, with industry profits expected at just $1.25B this year, off 35% from last year and vs. $4.9B in 2009. Informal data suggests firms are cutting staff and HFT now accounts for 51% of trading, down from 61% three years ago. [View news story]
    Lint is my new favorite commenter!
    Oct 15 11:51 AM | Likes Like |Link to Comment
  • Mario Monti's insistence he can bring Germany around to acting in the EU's "common good" may rest on support from Merkel's domestic opposition parties, which are far more disposed to liability sharing. They believe they have the blueprint for such with a so-called European redemption fund floated back in November.  [View news story]
    I hope someone talks Merkel into supporting some form of growth strategy. Austere people don't have the money to grow an economy. If she doesn't change soon,as Germany's economy continues to slide due to the German mandated austerity on the peripheral countries, she will get more pressure to change course.

    Furthermore, she is about to loose her Euro "leadership" status to Hollande.
    May 25 08:17 AM | Likes Like |Link to Comment
  • Eurozone flash PMI composite index comes in at 45.9 in May, a 35-month low, vs. 46.6 expected and 46.7 previous. Manufacturing at 45.0 vs. 45.9 prior. Services at 46.5 vs. 46.9 prior.  [View news story]
    Ah yes let's have another round of austerity...it works so well. Europe does not need more people with less money to spend it needs more people spending money... Stimulate, stimulate, stimulate. Look Europe over real good. this is exactly what the T'baggers are wanting to do to the US!
    May 24 08:05 AM | Likes Like |Link to Comment
  • The proposed Keystone XL pipeline would raise U.S. gasoline prices, according to the National Resources Defense Council: The pipeline would divert crude oil from the U.S. Midwest to Gulf Coast refineries geared to producing diesel fuel for export, which would reduce gasoline produced for U.S. consumers and raise production costs, making the fuel more expensive.  [View news story]
    yeah but. The Repubs are saying it will reduce prices and reduce dependence on imports. The possibility of increasing the price of gas in the mid west has been discussed from the very beginning. In fact the whole point of the pipeline was to relieve a glut of crude in the mid west that was depressing prices. And that oil would be moved to the gulf coast and exported because it's more profitable to export it. So much for the independence thing. Ho hum so the American public is being lied to again. Just move the damn thing away from the aquifer and build it.
    May 22 08:43 PM | 1 Like Like |Link to Comment
  • The language is couched in diplomat-speak, but the "clear aim" of Hollande, Monti, and Rajoy "is to wrest control of the EU's governing machinery from Germany," writes Ambrose Evans-Pritchard. Giles Merritt speaks of an "ugly mood" in the EU corridors of power. "(Merkel and the Germans) are beginning to understand how deeply unpopular they have become and how little time they have to act."  [View news story]
    The last economic figures I saw from Germany indicated the austerity was beginning to effect the German economy too. All of these Austere countries don't have any Euros to buy German goodies. Wasn't it Soros that said a few weeks ago that you can't save your way out of a deficit.
    May 21 03:31 PM | 1 Like Like |Link to Comment
  • The language is couched in diplomat-speak, but the "clear aim" of Hollande, Monti, and Rajoy "is to wrest control of the EU's governing machinery from Germany," writes Ambrose Evans-Pritchard. Giles Merritt speaks of an "ugly mood" in the EU corridors of power. "(Merkel and the Germans) are beginning to understand how deeply unpopular they have become and how little time they have to act."  [View news story]
    California is where meth started with the biker gangs of the 80s. To the best of my knowledge California still holds the number 1 position for meth production, besides perhaps Mexico!
    May 21 03:28 PM | 3 Likes Like |Link to Comment
  • The language is couched in diplomat-speak, but the "clear aim" of Hollande, Monti, and Rajoy "is to wrest control of the EU's governing machinery from Germany," writes Ambrose Evans-Pritchard. Giles Merritt speaks of an "ugly mood" in the EU corridors of power. "(Merkel and the Germans) are beginning to understand how deeply unpopular they have become and how little time they have to act."  [View news story]
    The Germans and Merkel deserve it..............
    May 21 03:04 PM | Likes Like |Link to Comment
  • Facebook (FB -13.2%) tumbles in early trading to $33.20; even after the selloff, the company trades at nearly 23x sales and 75x trailing EPS. Not helping is BTIG's decision to launch coverage at Neutral; in-line with earlier comments, the firm is worried about Facebook's valuation, decelerating growth, and ad monetization issues. Also lower: RENN -8.3%. ZNGA -7.1%. YELP -6.8%. LNKD -6.1%. GRPN -4.8%. SVVC -7.4%. GSVC -10%.  [View news story]
    I was in at 38.13 and double up today at 34.92. So I've got a 100 36.52. I'm going to wait a while.
    May 21 02:41 PM | Likes Like |Link to Comment
  • Today's strong ISM number adds to the divergence begun last year between the U.S. and European manufacturing sectors, writes Sober Look. As manufacturing is a relatively small part of U.S. output, it doesn't mean a total decoupling, but forecasts of a U.S. recession in 2012 hardly seem to make sense anymore.  [View news story]
    "Today's strong ISM number adds to the divergence begun last year between the U.S. and European manufacturing sectors, writes Sober Look."

    The key words here is divergence .......between US and Eoro manufacturing.

    Austerity baby......All austerity does is create people with no money to buy anything... I'm not advocating spend, spend, spend. But, boys and girls it's very simple; You gotta invest some money in seed and fertilizer before you can pick tomatoes.

    If those crazy T'baggers get their way and cut all the funds for seed and fertilizer the US ain't going to have any tomatoes to pick either. This Republican says let's vote them out now!
    May 1 11:54 AM | 1 Like Like |Link to Comment
  • Stocks may look reasonably priced based on a simple P/E, writes James Montier, but this is distorted by profit margins that are the highest ever. Not only that, but analysts' forecasts are for margins to rise even higher! A believer in mean reversion, Montier expects barely positive returns over the next seven years if profit margins move just partway back to their long-term average.  [View news story]
    did you say if the Republicans gain control and stop all this massive deficit spending profit margins will revert and so will the stock marker? I agree. Austerity just creates people with no money to spend to drive the economy.
    Mar 20 11:39 PM | 5 Likes Like |Link to Comment
  • President Obama enters full re-election mode, blaming speculators for high oil prices and vowing to "monitor" gas stations for price gouging. Not mentioned: efforts to limit drilling, massive deficits requiring central bank monetization, or a 0% Fed Funds rate.  [View news story]
    thumbs up KMI
    Apr 19 07:03 PM | 1 Like Like |Link to Comment
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