Amazon (AMZN) cuts ties with affiliates in Connecticut ahead of the July 1 imposition of a state tax on online purchases. The so-called "Amazon tax" was expected to generate $9.4M in revenue, but the company's move means the measure may be a net loser to state coffers. [View news story]
Tax and Spend. Tax and Spend. Government never satiated. More taxes. Spend More. Never balance budget.
Like working until your 80s? It's easy to see why many Americans will face that stark reality: 56% of U.S. workers have less than $25,000 saved; 60% of retirees have less than $50,000 saved; 45M Americans are on food stamps; plus consumers strapped with trillions in mortgage, student loan, credit card and auto debt. [View news story]
diepwjulius,
Makes me sad that you are so pesimistic at such an early age.
Establish a Roth IRA and keep your money invested in safe securities. Your Roth IRA will grow larger than any amount you ever imagined. Then you can withdraw from your Roth IRA federal income tax free and enjoy retirement.
Best Wishes. Jim Nelson. 76 years old and happily retired for 17 years.
Me thinks you'all are wrong to worry so much about real estate values. Investing is for the stock market, not the HOME (real estate market).
The only thing for certain is death and taxes. One thing for certain is that at sometime everyone gets too old to go to work and earn income. When that time comes ask yourself if it is better to OWN a HOME or pay rent until you are in the grave. Doesn't matter much if one owns a shack in the desert or a palace in the city. The important thing is to have it paid for. That means no mortgage payments. Life passes by extremely fast. NOW is the time to begin to pay for your retirement home. Do not wait until you cannot work anymore to begin.
As Expected, The Rare Earth Stock Bubble Implodes [View article]
To Mike Holt
"I don't use a drop of oil to complete my daily commute."
How do you think the electricity to charge your Volt gets produced? Most utilities use oil or coal to generate electricity. Dah! For one who professes to manage multi-millions you think like a simpleton.
Switzerland will not replace any of its 5 nuclear power plants when they reach the end of their lifespans, meaning the country will be without nuclear energy by 2034. Currently, 40% of Swiss energy needs are supplied by nuclear power. [View news story]
What a bunch of stupid BS. No nuclear energy? What's next. Attempt to do away with our Sun? Do they even realize our life source, "our Sun", is nuclear energy? DAH!
Autos kill over 50,000 a year in the U.S. alone. Better to divert our efforts to improve auto safety. Nuclear energy has proven fairly safe and safety is being improved with new designs.
Better idea would be to get rid of all the stupid politicians and replace them with intelligent, thinking persons.
Good to read the above comments from SA readers. Glad someone is thinking straight.
While LinkedIn's (LNKD -7.2%) IPO wasn't perfect, Morgan Stanley (MS) and Bank of America (BAC) didn’t pull any scam, Andrew Ross Sorkin writes. "Unless we learn that the low price was determined, in part, to help themselves through kickback schemes with favored clients, it is hard to argue the banks purposely scammed their client." Innocent until proven guilty, right, Henry Blodget? [View news story]
tigersam Thanks a lot for the info on Goldman. Jim Nelson
Partly behind copper's outsized drop today is a report from China showing its imports of the metal thru April are 29% less than the same period last year. The price of copper could be as vulnerable to a crackdown in its use in financing schemes as to a decline in economic activity. JJC -3.6%. [View news story]
tiger sam Would like to see link disclosing price Goldman got for LNKD. Thanks. Jim Nelson
While LinkedIn's (LNKD -7.2%) IPO wasn't perfect, Morgan Stanley (MS) and Bank of America (BAC) didn’t pull any scam, Andrew Ross Sorkin writes. "Unless we learn that the low price was determined, in part, to help themselves through kickback schemes with favored clients, it is hard to argue the banks purposely scammed their client." Innocent until proven guilty, right, Henry Blodget? [View news story]
Would like to see link disclosing price Goldman got for LNKD. Thanks. Jim Nelson
The "biggest U.S. economic story of the year," according to Philip Greenspun: the U.S. government’s lawsuit against Boeing (BA), seeking to prevent the opening of its $2B factory in South Carolina. "The prospect that Boeing’s $2B investment might be effectively confiscated by the government will be one more reason to build the next factory in a foreign country." [View news story]
There are two classes of people in the United States. Those people who collect government benefits and the taxpayers who pay for those benefits.
These "forced benefit payments" are bankrupting our states, cities, counties, schools, etc. Union or socialist government are one and the same in bed together.
When Obama administration in bed with organized labor force Boeing or any other company to move to pro-labor state the customers of these companies are forced to pay for the much higher costs incurred in production. I.E. in the case of Boeing expect the price of airplanes to go higher which in turn forces the price of consumer flying to go higher. This amounts to forced price increases to consumers which is exactly the same as a tax forced upon the consumer.
Unions love this as their motto is "shorter hours and more pay for less work." America cannot be competitive in the world economy with all this forced taxation which raises production costs.
To make America competitive again, better to teach our youngsters investing in school so when they graduate they can spend their time building wealth for their own security instead of marching and chanting slogans written by labor goons to get higher pay, more benefits etc., and striking and shutting down America's production to get them. This will only continue the never-ending cycle of inflation.
Its relations with the U.S. already scraping bottom, Pakistan is advising Afghanistan to also turn away from America, according to leaked details of a meeting between the 2 countries last week. It's likely the start of a long process of jockeying for influence as the U.S. prepares to exit Afghanistan in 2014. [View news story]
I haven't had the time to make an in-depth investigation of either the Pakistan or Afghanistan situation so I only know what I have read in the "slanted one-sided news media".
Based on that I would have to concur with the comments of David and Gatz above.
EIA Petroleum Inventories: Crude +6.16M barrels, vs. consensus of +0.9M. Gasoline -2.51M barrels vs. consensus of -1.1M. Distillates -1.81M vs. consensus of +0.2M. Crude futures slip accordingly, -0.8% to $111.33. [View news story]
Crude oil inventories up, gasoline inventories down. What's going on at the refineries?
BP: One Year On, The Blame Game Continues [View article]
A different view on BP with a different set of facts.
After the BP oil spill I began reading what I could find about BP's liability regarding the oil spill. I came upon a U.S. federal law that limited an oil company's liability for an oil spill to a few million dollars. I couldn't believe it when I read that BP voluntarily agreed to pay billions of dollars when they had such limited liability under the U.S. Statute.
I telephoned BP direct to ask them why. I informed them that I was a small investor in their company and wondered why they would voluntarily agree to pay so much more than their liability. I left my telephone number with an executive secretary and she stated a company executive would phone me back.
A company executive did indeed telephone me back within the hour. We had a lengthy conversation about the spill and BP's liability. The BP executive stated I was indeed correct in the limited liability under the U.S. Federal law. He then went on to explain that BP derived a large percent of their revenue from their U.S. oil operations. That BP had determined the property thing to do was to pay up the total costs and litigate afterwards. He further explained that BP wished to continue their good business relations in the United States.
Needless to say I came away from this conversation with a different view of this matter.
I wish more commentators would do their own investigating instead of repeating some soundbite from the media.
Why We See Gold Going Lower Long-Term [View article]
All comments very interesting.
As an aside I remember reading something years ago about how investors fare when their country loses a war.
Seems like the worst investment was fiat currency in the country that lost the war. The looting soldiers that won the war took everything that could be carried: works of art, precious metals, etc. All that remained was the land. Appears that the citizens of the defeated country that had real estate, ie. homes, farmland, fared the best. Paper securities ended up valueless.
Hide your gold and silver and don't tell your neighbors you have it.
Amazon (AMZN) cuts ties with affiliates in Connecticut ahead of the July 1 imposition of a state tax on online purchases. The so-called "Amazon tax" was expected to generate $9.4M in revenue, but the company's move means the measure may be a net loser to state coffers. [View news story]
Go Amazon!!
Jim Nelson
Like working until your 80s? It's easy to see why many Americans will face that stark reality: 56% of U.S. workers have less than $25,000 saved; 60% of retirees have less than $50,000 saved; 45M Americans are on food stamps; plus consumers strapped with trillions in mortgage, student loan, credit card and auto debt. [View news story]
Makes me sad that you are so pesimistic at such an early age.
Establish a Roth IRA and keep your money invested in safe securities. Your Roth IRA will grow larger than any amount you ever imagined. Then you can withdraw from your Roth IRA federal income tax free and enjoy retirement.
Best Wishes.
Jim Nelson. 76 years old and happily retired for 17 years.
Party like it's 1999: With the housing double-dip "confirmed," real housing prices and price-to-rent ratios have regressed to 1999 levels... and there's still no end in sight. "Prices have now fallen by more than they did during the Great Depression [and] will fall by at least a further 3% this year, and perhaps even further next year." [View news story]
The only thing for certain is death and taxes. One thing for certain is that at sometime everyone gets too old to go to work and earn income. When that time comes ask yourself if it is better to OWN a HOME or pay rent until you are in the grave. Doesn't matter much if one owns a shack in the desert or a palace in the city. The important thing is to have it paid for. That means no mortgage payments. Life passes by extremely fast. NOW is the time to begin to pay for your retirement home. Do not wait until you cannot work anymore to begin.
Speaking from 76 years of experience.
Jim Nelson
As Expected, The Rare Earth Stock Bubble Implodes [View article]
"I don't use a drop of oil to complete my daily commute."
How do you think the electricity to charge your Volt gets produced? Most utilities use oil or coal to generate electricity. Dah! For one who professes to manage multi-millions you think like a simpleton.
Jim Nelson
Switzerland will not replace any of its 5 nuclear power plants when they reach the end of their lifespans, meaning the country will be without nuclear energy by 2034. Currently, 40% of Swiss energy needs are supplied by nuclear power. [View news story]
Autos kill over 50,000 a year in the U.S. alone. Better to divert our efforts to improve auto safety. Nuclear energy has proven fairly safe and safety is being improved with new designs.
Better idea would be to get rid of all the stupid politicians and replace them with intelligent, thinking persons.
Good to read the above comments from SA readers. Glad someone is thinking straight.
Jim Nelson
While LinkedIn's (LNKD -7.2%) IPO wasn't perfect, Morgan Stanley (MS) and Bank of America (BAC) didn’t pull any scam, Andrew Ross Sorkin writes. "Unless we learn that the low price was determined, in part, to help themselves through kickback schemes with favored clients, it is hard to argue the banks purposely scammed their client." Innocent until proven guilty, right, Henry Blodget? [View news story]
Thanks a lot for the info on Goldman.
Jim Nelson
Partly behind copper's outsized drop today is a report from China showing its imports of the metal thru April are 29% less than the same period last year. The price of copper could be as vulnerable to a crackdown in its use in financing schemes as to a decline in economic activity. JJC -3.6%. [View news story]
Would like to see link disclosing price Goldman got for LNKD. Thanks.
Jim Nelson
While LinkedIn's (LNKD -7.2%) IPO wasn't perfect, Morgan Stanley (MS) and Bank of America (BAC) didn’t pull any scam, Andrew Ross Sorkin writes. "Unless we learn that the low price was determined, in part, to help themselves through kickback schemes with favored clients, it is hard to argue the banks purposely scammed their client." Innocent until proven guilty, right, Henry Blodget? [View news story]
Jim Nelson
The "biggest U.S. economic story of the year," according to Philip Greenspun: the U.S. government’s lawsuit against Boeing (BA), seeking to prevent the opening of its $2B factory in South Carolina. "The prospect that Boeing’s $2B investment might be effectively confiscated by the government will be one more reason to build the next factory in a foreign country." [View news story]
These "forced benefit payments" are bankrupting our states, cities, counties, schools, etc. Union or socialist government are one and the same in bed together.
When Obama administration in bed with organized labor force Boeing or any other company to move to pro-labor state the customers of these companies are forced to pay for the much higher costs incurred in production. I.E. in the case of Boeing expect the price of airplanes to go higher which in turn forces the price of consumer flying to go higher. This amounts to forced price increases to consumers which is exactly the same as a tax forced upon the consumer.
Unions love this as their motto is "shorter hours and more pay for less work." America cannot be competitive in the world economy with all this forced taxation which raises production costs.
To make America competitive again, better to teach our youngsters investing in school so when they graduate they can spend their time building wealth for their own security instead of marching and chanting slogans written by labor goons to get higher pay, more benefits etc., and striking and shutting down America's production to get them. This will only continue the never-ending cycle of inflation.
Its relations with the U.S. already scraping bottom, Pakistan is advising Afghanistan to also turn away from America, according to leaked details of a meeting between the 2 countries last week. It's likely the start of a long process of jockeying for influence as the U.S. prepares to exit Afghanistan in 2014. [View news story]
Based on that I would have to concur with the comments of David and Gatz above.
EIA Petroleum Inventories: Crude +6.16M barrels, vs. consensus of +0.9M. Gasoline -2.51M barrels vs. consensus of -1.1M. Distillates -1.81M vs. consensus of +0.2M. Crude futures slip accordingly, -0.8% to $111.33. [View news story]
Because They're Not Spending Their Own Money, Patients Aren't Consumers [View article]
It appears that you have given some deep thought to to this subject and I might add some very intelligent insight.
Thank you.
Jim Nelson
BP: One Year On, The Blame Game Continues [View article]
After the BP oil spill I began reading what I could find about BP's liability regarding the oil spill. I came upon a U.S. federal law that limited an oil company's liability for an oil spill to a few million dollars. I couldn't believe it when I read that BP voluntarily agreed to pay billions of dollars when they had such limited liability under the U.S. Statute.
I telephoned BP direct to ask them why. I informed them that I was a small investor in their company and wondered why they would voluntarily agree to pay so much more than their liability. I left my telephone number with an executive secretary and she stated a company executive would phone me back.
A company executive did indeed telephone me back within the hour. We had a lengthy conversation about the spill and BP's liability. The BP executive stated I was indeed correct in the limited liability under the U.S. Federal law. He then went on to explain that BP derived a large percent of their revenue from their U.S. oil operations. That BP had determined the property thing to do was to pay up the total costs and litigate afterwards. He further explained that BP wished to continue their good business relations in the United States.
Needless to say I came away from this conversation with a different view of this matter.
I wish more commentators would do their own investigating instead of repeating some soundbite from the media.
Jim Nelson
..
Why We See Gold Going Lower Long-Term [View article]
As an aside I remember reading something years ago about how investors fare when their country loses a war.
Seems like the worst investment was fiat currency in the country that lost the war. The looting soldiers that won the war took everything that could be carried: works of art, precious metals, etc. All that remained was the land. Appears that the citizens of the defeated country that had real estate, ie. homes, farmland, fared the best. Paper securities ended up valueless.
Hide your gold and silver and don't tell your neighbors you have it.
Jim Nelson
Why We See Gold Going Lower Long-Term [View article]
I understood you perfectly. Guess that proves that at least I have half a brain.
Jim Nelson