In what has been dubbed as largely a symbolic vote, the House of Representatives did what was expected and opted to repeal the health-care overhaul law, but it's is likely be dead in Congress’s lower chamber. The vote was 229 to 195 to repeal the measure, with two Democrats voting along with the Republican majority: Mike McIntyre of North Carolina and Jim Matheson of Utah. Sidenote: This is the 37th attempt to repeal the law since it was passed in March 2010. [View news story]
1) We're not the same as other industrialized countries. We're founded on the premise of individual freedom, to succeed or fail, unfettered by big government. 2) I don't want "healthcare" just like Europe or Canada. I want a system where individual advocacy makes a difference. Where responsible behavior is rewarded and stupid behavior is not. Just like immigration, if you haven't earned the right, then get to the of the line. 3) No matter where you go, there will always be a top 20% and a bottom 20%, that is human nature. Governments can't, and shouldn't try, to change that. Not everyone will get the best of whatever, including healthcare. If you're worried about that, you change your life. If you can't, you make the next generation better. Whatever the sacrifices.
The New York City Employees' Retirement System becomes the third pension fund to sell its stake in gun makers Sturm Ruger (RGR -0.8%) and Smith & Wessen (SWHC -0.3%) following the nightmarish school shooting in Connecticut. CalSTRS and New York's Teacher's Retirement System sold their shares in January and February respectively. Comptroller John Liu says the company's products "tear apart families and shatter communities." ( Reuters ) [View news story]
Surprised those wackos ever invested in weapon stocks to begin with. What's not surprising is the total hypocrisy.
The Internet tax bill (Marketplace Fairness Act) passed a Senate vote 69 to 17 but faces a much bigger obstacle in the House where some members are expected to draw the line on what they call a tax increase. If the bill ultimately succeeds, retail analysts see a marginal benefit for the retailers that are hit the hardest by the "showrooming effect" - Best Buy (BBY -0.8%), Bed Bath & Beyond (BBBY +0.1%), and PetSmart (PETM +0.4%) come to mind - while pegging eBay (EBAY -0.3%) as a company that might have the most to lose. [View news story]
What a joke... "Marketplace Fairness Act" really means increased government revenue followed by more wasteful spending, this time on the state level. If fairness was really the issue, since you're increasing the tax base by something like 6%, by imposing an online tax, that would then dictate an overall reduction in sales tax rates, to keep the revenues inline. Instead, the states are salivating, in all "fairness", at the thought of increased revenues, lol.
Despite $2T invested over the past 20 years in renewable energy projects, carbon dioxide emissions per unit of energy consumed have fallen by less than 1%, the IEA reports. A main reason is the continued success of coal, the fuel of choice for much of the world despite being in retreat in the U.S. and perhaps even in China. Until low-carbon alternatives get cheaper, coal will continue to be favored. [View news story]
Yeh, and the lib wacko greenies would have you believe that attacking coal fired power production in the US is good for the environment and good for us.
AT&T (T) responds to news of Google Fiber's expansion into Austin by stating it, too, is ready to build a 1Gbps "fiber optic infrastructure" in Texas' capital. Naturally, Ma Bell, which offers U-verse services in Austin, says it expects to be "granted the same terms and conditions" as Google from local officials. But it provides virtually no details on service reach or pricing. Is this a PR stunt, an attempt to discourage Google from further expanding Fiber, or something more? [View news story]
Once again, Texas is proving to be more business friendly than most any other state and will create more jobs than any other state. That is the real news here, and Obama should be very thankful, otherwise the jobs picture w/o Texas would have been a non-starter in the last election.
The judge in the Hostess bankruptcy case approves the sale of the Drake's snack cakes unit to privately-held McKee Foods for $27M. The food company picks up the Devil Dogs, Ring Dings, and Yodels brands in the deal. [View news story]
The bakers union said in a statement on Tuesday its members would be "indispensable partners" in restarting the former Hostess facilities and getting the products back into stores.
Are these people kidding? They were indispensable in bankrupting Hostess to begin with. I really hope this all gets sent to Mexico, and the bakers union gets left pulling their own Twinks...
It's taken four years, but the Senate finally passed a budget in the early hours of yesterday morning. The $3.7T proposal would lower U.S. debt through increased taxes for higher earners and would repeal $1.2T in sequestration. Unsurprisingly, the measures are rather different from a package that the House approved earlier in the week. [View news story]
The media does a real disservice when it reports any of these negotiations as lowering the debt. None of these proposals "lower U.S. debt", whether Democrat or Republican, Senate or House. They merely slow the rate of increase of the debt. We're going to borrow money for at least another ten years. Even with the $85B sequestration, 2013 expenditures are still larger than 2012's.
What's driving all this? Social engineering... which were never a mandate of the Federal Government, somehow has evolved into these huge "non-discretionary" expenditures. Presently about 2/3s of every dollar spent (or about equal to all revenues collected form every source), go into these social entitlements. Those are the facts. And no matter how much of the "budget" is dedicated to social engineering, it will never be enough, for many voters.
Congress votes to keep Saturday delivery of first-class mail by the USPS, although language in the spending measure easily allows the agency to alter the type of products it delivers. The development is expected to only have a minor read-through for FedEX (FDX -2.5%) due to its partnership with the USPS and an even smaller impact on rival UPS (UPS -1.1%). [View news story]
Congress is afraid, I'm sure, that any crack in first class mail delivery will be an opening for further privatization. But when most of what you do has evolved into processing junk, your business plan is bound to suffer. At what point does Congress stop treating this as a sacred cow... a throwback to when the founding fathers had to ensure a secure service. Funny how Congress isn't willing to treat the right to bear arms with the same reverence. But then, Congressional double standards and hypocrisy are nothing new.
House Budget Committee Chairman Paul Ryan calls his latest budget proposal "an invitation to the president of the United States, to the Senate Democrats to come together to fix these problems." Democratic Representative Chris Van Hollen says it's a "total uncompromising" blueprint and dead on arrival. Hollen adds a warning to the markets as well, noting that despite the healthy performance of stocks recently, the impact from another stalemate will likely reverse those gains very quickly. [View news story]
You all crack me up. There are no real cuts in anyone's budget, only a slowing of the increase in spending. Even with the sequester, the 2013 budget is still larger than the 2012 budget. Even with the Ryan budget, this country will continue borrowing for another ten years. You all need to stop drinking the kool aid. This is not our money, it is borrowed money, that is fueling all these feel good entitlements. And the more the government does, the less individuals are likely to worry about taking care of themselves and their own.
McDonald's (MCD) lackluster February sales report is a fresh sign the real economy where people eat fast food and earn less than $24/hour is still sluggish, despite the upbeat jobs report and a soaring Dow. While the numbers exceeded Wall Street expectations, sales at MickeyD's U.S. restaurants open at least a year were flat, suggesting MCD - and a big chunk of the economy - are stuck in neutral. [View news story]
$1.00 hamburgers, sure, but when you add drinks, etc., the package ends up $4-$7 per, or about $20-$25 for a family of four. You can prepare fresh food at home for way less than that. Unfortunately, that takes ability and work ethic, something which more and more people lack.
McDonald's (MCD) lackluster February sales report is a fresh sign the real economy where people eat fast food and earn less than $24/hour is still sluggish, despite the upbeat jobs report and a soaring Dow. While the numbers exceeded Wall Street expectations, sales at MickeyD's U.S. restaurants open at least a year were flat, suggesting MCD - and a big chunk of the economy - are stuck in neutral. [View news story]
Actually, it is way more expensive to eat at McDonald's than to buy and cook fresh food. More and more people have no clue how to prepare food using basic, inexpensive ingredients. How to stretch their budget for food, or anything else, for that matter. McDonald's is really more of a dumb and dumber indicator than anything else.
Jan. Personal Income and Outlays: Income -3.6% m/m vs. -2.1% expected, +2.6% prior. Personal spending +0.2% m/m vs. 0.2% expected, +0.2% prior. PCE core price index +0.1% vs. +0.2% expected, +0.0% prior. [View news story]
While higher taxes take money out of people's pockets, in fact, spending cuts do not put money back into people's pocket. That $85B or so in sequestration cuts will never filter back into the economy. Why? It is a result of the borrow and spend approach to stimulus. That $85B would have been borrowed money anyway, so there is nothing to give back to the economy. It shows the really sinister nature of the current problem with stimulus mentality. If you try to slow the rate of borrowing, it actually hurts the economy. Better to continue with government spending and then take it back through higher taxes. When will it end? Ask Europe.
"Fifty-seven percent of the Italian vote went to parties that have vowed to tear up the EU austerity script," writes Ambrose Evans-Pritchard. It's of "seismic importance," says RBS' Andrew Roberts. "The ECB rescue depends on countries doing what they are told." Roll that line around in your mind for a bit. [View news story]
Well, here is the US we've voted for no austerity. Everywhere you look, it's more government spending or else. While democracy is in it's glory, our Republic is failing. The rule of the mob is taking over, slowly but surely. The electorate has realized it can just keep voting itself more and more stuff. Just kick the can down the road, someone else can deal with it at a later date.
U.S. stocks turn decidedly lower in the day's 2nd half thanks to the big turn in Europe on the Italian election results, or the maybe it's the President's borderline apocalyptic warnings should $85B be trimmed from the $4T federal budget. The S&P 500 -0.7%. [View news story]
Well over half of that $4T budget is entitlements, which are considered non-discretionary. They can only be altered by legislative change. Then there is interest on the national debt, about $250 billion per year (and climbing). Can't touch that either. The biggest piece that can be wacked is defense, considered discretionary, but ironically, the primary function of the federal government, as described by the Founding Fathers.
The lib wackos will continue to increase entitlements, all the while claiming cuts. All they're doing is slowing down the rate of increase. Even the most aggressive budget has the US borrowing money until something like 2024, at which point we achieve balance. Right.
Following months of trials, Yahoo (YHOO +0.6%) has taken the wraps off a huge home page revamp. The new page offers a much more streamlined look, comes with an infinitely scrolling news feed and a slew of personalization options, and enables quick Facebook/Twitter content sharing. Yahoo's home page views were pegged at 4.4B/month last year, making the page a major source of ad revenue. Marissa Mayer suggested at her Goldman conference talk Facebook integration is a priority for Yahoo. [View news story]
Yahoo web pages are, in general, cluttered and slow, often with malformed adware scripts, that always seem to lock things up. The financial page is a mess, and the tool developers have managed to hose the message boards, the watchlists, etc., to the point where they're not worth using anymore. They've managed to chase away most of the serious contributors, and you've got a bunch of real yahoos and trolls mainly posting on those message boards. I would never use the Yahoo shopping site, although it pops up occasionally. Basically, what we're dealing with here is a giant clusterf**k...
In what has been dubbed as largely a symbolic vote, the House of Representatives did what was expected and opted to repeal the health-care overhaul law, but it's is likely be dead in Congress’s lower chamber. The vote was 229 to 195 to repeal the measure, with two Democrats voting along with the Republican majority: Mike McIntyre of North Carolina and Jim Matheson of Utah. Sidenote: This is the 37th attempt to repeal the law since it was passed in March 2010. [View news story]
2) I don't want "healthcare" just like Europe or Canada. I want a system where individual advocacy makes a difference. Where responsible behavior is rewarded and stupid behavior is not. Just like immigration, if you haven't earned the right, then get to the of the line.
3) No matter where you go, there will always be a top 20% and a bottom 20%, that is human nature. Governments can't, and shouldn't try, to change that. Not everyone will get the best of whatever, including healthcare. If you're worried about that, you change your life. If you can't, you make the next generation better. Whatever the sacrifices.
The New York City Employees' Retirement System becomes the third pension fund to sell its stake in gun makers Sturm Ruger (RGR -0.8%) and Smith & Wessen (SWHC -0.3%) following the nightmarish school shooting in Connecticut. CalSTRS and New York's Teacher's Retirement System sold their shares in January and February respectively. Comptroller John Liu says the company's products "tear apart families and shatter communities." ( Reuters ) [View news story]
The Internet tax bill (Marketplace Fairness Act) passed a Senate vote 69 to 17 but faces a much bigger obstacle in the House where some members are expected to draw the line on what they call a tax increase. If the bill ultimately succeeds, retail analysts see a marginal benefit for the retailers that are hit the hardest by the "showrooming effect" - Best Buy (BBY -0.8%), Bed Bath & Beyond (BBBY +0.1%), and PetSmart (PETM +0.4%) come to mind - while pegging eBay (EBAY -0.3%) as a company that might have the most to lose. [View news story]
Despite $2T invested over the past 20 years in renewable energy projects, carbon dioxide emissions per unit of energy consumed have fallen by less than 1%, the IEA reports. A main reason is the continued success of coal, the fuel of choice for much of the world despite being in retreat in the U.S. and perhaps even in China. Until low-carbon alternatives get cheaper, coal will continue to be favored. [View news story]
AT&T (T) responds to news of Google Fiber's expansion into Austin by stating it, too, is ready to build a 1Gbps "fiber optic infrastructure" in Texas' capital. Naturally, Ma Bell, which offers U-verse services in Austin, says it expects to be "granted the same terms and conditions" as Google from local officials. But it provides virtually no details on service reach or pricing. Is this a PR stunt, an attempt to discourage Google from further expanding Fiber, or something more? [View news story]
The judge in the Hostess bankruptcy case approves the sale of the Drake's snack cakes unit to privately-held McKee Foods for $27M. The food company picks up the Devil Dogs, Ring Dings, and Yodels brands in the deal. [View news story]
Are these people kidding? They were indispensable in bankrupting Hostess to begin with. I really hope this all gets sent to Mexico, and the bakers union gets left pulling their own Twinks...
It's taken four years, but the Senate finally passed a budget in the early hours of yesterday morning. The $3.7T proposal would lower U.S. debt through increased taxes for higher earners and would repeal $1.2T in sequestration. Unsurprisingly, the measures are rather different from a package that the House approved earlier in the week. [View news story]
What's driving all this? Social engineering... which were never a mandate of the Federal Government, somehow has evolved into these huge "non-discretionary" expenditures. Presently about 2/3s of every dollar spent (or about equal to all revenues collected form every source), go into these social entitlements. Those are the facts. And no matter how much of the "budget" is dedicated to social engineering, it will never be enough, for many voters.
Congress votes to keep Saturday delivery of first-class mail by the USPS, although language in the spending measure easily allows the agency to alter the type of products it delivers. The development is expected to only have a minor read-through for FedEX (FDX -2.5%) due to its partnership with the USPS and an even smaller impact on rival UPS (UPS -1.1%). [View news story]
House Budget Committee Chairman Paul Ryan calls his latest budget proposal "an invitation to the president of the United States, to the Senate Democrats to come together to fix these problems." Democratic Representative Chris Van Hollen says it's a "total uncompromising" blueprint and dead on arrival. Hollen adds a warning to the markets as well, noting that despite the healthy performance of stocks recently, the impact from another stalemate will likely reverse those gains very quickly. [View news story]
McDonald's (MCD) lackluster February sales report is a fresh sign the real economy where people eat fast food and earn less than $24/hour is still sluggish, despite the upbeat jobs report and a soaring Dow. While the numbers exceeded Wall Street expectations, sales at MickeyD's U.S. restaurants open at least a year were flat, suggesting MCD - and a big chunk of the economy - are stuck in neutral. [View news story]
McDonald's (MCD) lackluster February sales report is a fresh sign the real economy where people eat fast food and earn less than $24/hour is still sluggish, despite the upbeat jobs report and a soaring Dow. While the numbers exceeded Wall Street expectations, sales at MickeyD's U.S. restaurants open at least a year were flat, suggesting MCD - and a big chunk of the economy - are stuck in neutral. [View news story]
Jan. Personal Income and Outlays: Income -3.6% m/m vs. -2.1% expected, +2.6% prior. Personal spending +0.2% m/m vs. 0.2% expected, +0.2% prior. PCE core price index +0.1% vs. +0.2% expected, +0.0% prior. [View news story]
"Fifty-seven percent of the Italian vote went to parties that have vowed to tear up the EU austerity script," writes Ambrose Evans-Pritchard. It's of "seismic importance," says RBS' Andrew Roberts. "The ECB rescue depends on countries doing what they are told." Roll that line around in your mind for a bit. [View news story]
U.S. stocks turn decidedly lower in the day's 2nd half thanks to the big turn in Europe on the Italian election results, or the maybe it's the President's borderline apocalyptic warnings should $85B be trimmed from the $4T federal budget. The S&P 500 -0.7%. [View news story]
The lib wackos will continue to increase entitlements, all the while claiming cuts. All they're doing is slowing down the rate of increase. Even the most aggressive budget has the US borrowing money until something like 2024, at which point we achieve balance. Right.
Following months of trials, Yahoo (YHOO +0.6%) has taken the wraps off a huge home page revamp. The new page offers a much more streamlined look, comes with an infinitely scrolling news feed and a slew of personalization options, and enables quick Facebook/Twitter content sharing. Yahoo's home page views were pegged at 4.4B/month last year, making the page a major source of ad revenue. Marissa Mayer suggested at her Goldman conference talk Facebook integration is a priority for Yahoo. [View news story]