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The Patriot

The Patriot
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  • In the Q&A follow-up to his testimony, Ben Bernanke says don't worry too much about muni bonds: "We're not seeing extraordinary stress." The Fed's got "no expectation or intention to get involved in state and local finance" despite some authority to do so. And don't panic on inflation: "The facts are that inflation is 1% including food and fuel."  [View news story]
    The stuff I have declines in value and the stuff I need cost more. Maybe its not inflation but the end result is the same.
    Jan 7, 2011. 12:36 PM | 4 Likes Like |Link to Comment
  • Sales at Sears (SHLD) lag its major competitors, and many of the company’s 2,200 Sears and Kmart stores are run-down and in undesirable locations, according to a NYT profile. Many stores are in older malls, and Sears has invested much less in store improvements than Macy’s (M), Target (TGT), Wal-Mart (WMT) or J. C. Penney (JCP).  [View news story]
    I use many Craftsman tools, they are a good product. This is the only reason I venture into the hood to visit my local Sears. I remember when Cramer was doing his BUY BUY BUY routine - thinking you fool. Any clear thinker could see this was a huge negative for the stock.
    Dec 22, 2010. 02:22 PM | Likes Like |Link to Comment
  • Loans for farm equipment grow 64% from a year earlier as surging prices for beans, coffee, and sugar encourage heavy borrowing by Brazilian farmers. Banco do Brasil (BDORY.PK), the largest provider of farm loans, offers a government subsidized rate of 5.5%, compared to the overnight rate of 10.75%.  [View news story]
    Sure liking my DE shares I bought @ $25 !!
    Dec 22, 2010. 02:17 PM | Likes Like |Link to Comment
  • A dispute over pension plans and retiree benefits escalates into a lockout by U.S. Steel (X -2%) of 900 workers at an Ontario plant, who say the company's trying to "shaft" retirees. The issue's a familiar one: moving new employees to defined-contribution plans from defined-benefit plans.  [View news story]
    All company benefits should be paid to the employee via salary.
    Let the employee provide for all his retirement/healthcare.
    Nov 8, 2010. 12:19 PM | Likes Like |Link to Comment
  • The SEC puts a figure of $236.5M on the bribery charges it settled with oil and freight companies. Along with Panalpina (PLWTF.PK) and Shell (RDS.A), the companies include Pride International (PDE), Tidewater (TDW), Transocean (RIG), GlobalSantaFe, and Noble (NE).  [View news story]
    They are called bribes if made by companies, subsidies if made by the govt.
    Nov 4, 2010. 01:46 PM | Likes Like |Link to Comment
  • Sept. Employment Trends Index: 97 vs. revised 97.3 in Aug. "While continued slow job growth remains the most likely scenario over the next several months, The Conference Board ETI suggests that the likelihood of another episode of job losses is increasing."  [View news story]
    I work in the forest products industry. I can assure you we are still suffering. Many of the smaller producers have burnt through cash reserves and are living off of greatly reduced cash flows. Any further slow down will kill us : (
    Oct 12, 2010. 12:54 PM | Likes Like |Link to Comment
  • Facing a Chinese supply problem in rare earth minerals, Japan is turning to "urban mining" - plumbing a huge stockpile of used mobile phones and computers to recycle the valuable elements inside: "We’ve literally discovered gold in cellphones."  [View news story]
    Natural green capitalism - I like it !!
    Oct 5, 2010. 02:31 PM | Likes Like |Link to Comment
  • Her Majesty wants your bank account:UK tax collectors proposed today that all paychecks be processed by the government, which would deduct taxes before transferring funds to employees. The agency described the plan, which would require employers to share real-time information with tax authorities, as a "radical" change from the current system.  [View news story]
    Hope Obama doesnt read this
    Sep 20, 2010. 08:58 AM | 3 Likes Like |Link to Comment
  • If you're like most Americans, you classify yourself as "middle class." But as the debate over tax cuts shows, nobody can agree on exactly what middle class means. A family earning $250,000 in a high-cost location like Manhattan, for example, probably doesn't consider themselves rich.  [View news story]
    Wow, I never knew that. You must be really smart.
    Sep 14, 2010. 09:14 PM | Likes Like |Link to Comment
  • If you're like most Americans, you classify yourself as "middle class." But as the debate over tax cuts shows, nobody can agree on exactly what middle class means. A family earning $250,000 in a high-cost location like Manhattan, for example, probably doesn't consider themselves rich.  [View news story]
    Hit the nail on the head. Its a moving target and so complex that any black and white or one size fits all type tax policy is unjust. Targeting ANY specific demographic is dangerous. There has been no meaningful discussion from either party on reducing spending. Cut spending BEFORE raising taxes. Create a list of ALL govt spending and its rate of growth. Give this list to the voters and let them decide where to spend the money.
    The Fair Tax would eliminate this growing class warfare.
    Sep 14, 2010. 08:29 PM | 3 Likes Like |Link to Comment
  • It's hard for any central banker to walk a tightrope between future confidence and current credibility, and many of them think Bernanke lost his balance trying to convince us monetary policy can make a difference. If deflation gloom was the watchword at Jackson Hole, there are ways to play the situation -  including underweighting currencies of borrowing nations and credit of smaller and local governments.  [View news story]
    Well said
    Sep 11, 2010. 03:36 PM | 1 Like Like |Link to Comment
  • Goldman Sachs (GS +1.6%) will get slapped with a "near-record" fine thought to be near £20M from the U.K. as soon as tomorrow, Financial Times reports, concerning marketing disclosure practices for its Abacus CDOs. The fine would follow the $550M levied by the SEC against Goldman in July.  [View news story]
    Would love to see who gets a cut of this ???
    Sep 8, 2010. 06:02 PM | Likes Like |Link to Comment
  • Food prices may be telling us that we're in a very long housing slump, John Carney writes, taking issue with the contention that housing should be thought of as a luxury good that will appreciate as long as incomes rise. Carney finds a long inverse relationship between housing and food prices; so with food prices rising, housing may continue to fall.  [View news story]
    With food rising, EVERYTHING will fall. Oil shock, debt shock,income shock, healthcare shock,etc..
    Sep 8, 2010. 06:01 PM | 1 Like Like |Link to Comment
  • The CBO says the U.S. deficit will reach $1.34T this year, slightly down from an earlier projection - but that its estimate for fiscal 2011 is a deficit of $1.07T, higher than its earlier $980B estimate. The 2010 deficit is estimated at 9.1% of U.S. GDP.  [View news story]
    I would love for someone to tell me how reliable these estimates are ??? 50/50 ??
    Aug 19, 2010. 12:06 PM | Likes Like |Link to Comment
  • Obama’s plan to let lapse the Bush-era tax cuts for upper-income Americans would have little effect on those taxpayers, according to the Joint Committee on Taxation. The 3.8M filers who fall in the $200K-$500K income range would pay an average of $532 extra, the study says.  [View news story]
    The ruling class maintain a manipulative tax code so it can be used to punish or reward - it gives them power and influence - not to mention, a breeding ground for corruption. The "Fair Tax", a consumption tax would replace all taxes. One tax - period.
    Aug 13, 2010. 03:05 PM | 1 Like Like |Link to Comment