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  • Prices at the pump creep higher again, the average price for regular rising to $3.925/gallon as of early this morning. The price is nearly 11% higher Y/Y and at another new record for March. Gasoline ETF: UGA +18.9% YTD.  [View news story]
    I would kill for $4. Chicago is a joke...
    Mar 30 12:18 PM | Likes Like |Link to Comment
  • Rare Earth Metals Are Becoming Rarer and More Attractive [View article]
    Does this index contain Unobtanium (pronounced un-ub-TAIN-e-um)? Looking forward to the CME contract on it.

    We've heard how the highly valuable mineral is only found on the moon - Pandora.
    Mar 30 04:57 PM | 1 Like Like |Link to Comment
  • The markets are "overreacting" to the Japan disaster concerning its impact on U.S. economic growth, Deutsche Bank's Joe LaVorgna says. U.S. exports to Japan are only 5% of GDP, he says, so that number would have to be much larger for the events in Japan to have a substantial effect on the U.S. economy.  [View news story]
    "Overreacting to Japan" or pricing in more problems in the Middle East?

    Someone run the analysis on the S&P performance for the Ides of March...
    Mar 15 03:43 PM | 4 Likes Like |Link to Comment
  • Congress will not vote on extending Bush-era tax cuts before the November elections, a top Senate Democrat says. "We are so tightly wound up in this campaign that it's impossible to see a bipartisan answer to the challenge we face. That's the reality, before the election," according to Sen. Dick Durbin.  [View news story]
    I caddied for Sen. Durbin when I was 13. He had his name stamped on every ball. Not the best golfer. Plenty didn't make it through the round.

    He stiffed me on the tip...true story.
    Sep 23 05:07 PM | 3 Likes Like |Link to Comment
  • Larry Summers is expected to leave his White House post after the November midterm elections, Bloomberg reports. If it happens, Summers' departure would leave Tim Geithner as the last of Obama's original economic team still standing.  [View news story]
    ...I can't help but to picture a middle reliever walking from the mound to the dugout after blowing the lead at home in the 8th...
    Sep 21 04:35 PM | 4 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]
    This is not true - funny math. What about realizing a $20k long term capital gain in say a corporate bond fund in a taxable account? 15% rate (2010) vs. 20%? (2011) = extra $1000 to Uncle Sam...

    Aug 11 06:20 PM | Likes Like |Link to Comment
  • Geithner says the administration plans to allow tax cuts for the wealthiest Americans to expire, despite calls from a growing number of Democrats to delay any tax increases, and to extend estate taxes at 2009 rates. He also says Elizabeth Warren would be an "enormously effective leader" if chosen to run the new consumer finance agency.  [View news story]
    You and the administration are omitting key information:

    The tax rate on dividends will go from 15% to ordinary income (when ordinary income will rise across the board - hello 39.6% on the top, 28-31% in the middle, and even from 10% up to 15% on the bottom). These comments are wishing "good luck" to anyone living on fixed income and investment dividends in a zero interest rate environment.

    Tip of the iceberg folks:

    Letting the Bush cuts expire will cost taxpayers $115 billion next year alone, according to the Congressional Budget Office, and $2.6 trillion through 2020.
    Jul 22 03:26 PM | 3 Likes Like |Link to Comment
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