Ten Wyoming lawmakers have proposed legislation that they claim would nullify any new federal laws banning assault weapons.
The proposed bill HB0104 states that “any federal law which attempts to ban a semi-automatic firearm or to limit the size of a magazine of a firearm or other limitation on firearms in this state shall be unenforceable in Wyoming,” reports the The Washington Examiner.
The bill is sponsored by eight Wyoming state representatives [...]
January 7, 2013
Bank of America said Monday it would pay $11.6 billion to settle claims on soured loans sold to mortgage finance giant Fannie Mae.
The settlement covers residential mortgage loans originated and sold directly to Fannie Mae from January 1, 2000, through December 31, 2008, the big US bank said in a statement.
Under the agreements, Bank of America will pay $3.55 billion in cash to the government-controlled Federal National Mortgage [...]
zentrader.ca / By Poly / January 1, 2013
The Dollar has recovered and recharged from the recent selling pressure and is again poised to continue its Cycle decline. Because the 3rd Daily Cycle has progressed to Day 16, we should expect to see only 4 to 8 days of sharper declines into an eventual Daily Cycle Low.
January 1, 2013
Investors fearing a stock market plunge – if the United States tumbles off the “fiscal cliff” this week – may want to relax.
But they should be scared if a few weeks later, Washington fails to reach a deal to increase the nation’s debt ceiling because that raises the threat of a default, another credit downgrade and a panic in the financial markets.
Market strategists say that while falling off [...]
It’s not even 6 pm yet (futures open time) and all that early optimistic momentum hard procured by splinter GOP Senators, is slowly but surely, being extinguished. Enter Dick Durbin, the second ranking Senate democrat:
Even if budget agreement to avoid fiscal cliff is reached today, it would be tough to “put it together this evening,” Sen. Dick Durbin, D-Ill., tells CNN.
If deal reached, more likely to be made final tomorrow, [...]
Got a letter from our bank which basically says:
Beginning January 1, 2013, noninterest-bearing transaction accounts will no longer be insured separately from depositors’ other accounts at the same IDI. Instead, noninterest-bearing transaction accounts will be added to any of a depositor’s other accounts in the applicable ownership category, and the aggregate balance insured up to at least the Standard Maximum Deposit Insurance Amount (SMDIA) of $250,000, per depositor, at each [...]
December 30, 2012
Sudan’s cash-starved government on Sunday ordered a doubling of the minimum wage after months of rising prices left consumers struggling to make ends meet.
The order by President Omar al-Bashir reversed earlier official rejections of an increase despite inflation which reached 46 percent in November.
“President Bashir gives directive for increasing the minimum wage to 425 pounds (about $61 on the black market) as of January 1,” the official SUNA [...]
NBC’s David Gregory has an exclusive interview with President Barack Obama, which will air today at 10:30 AM ET.
Gregory has been tweeting quotes. Here’s what he’s given us so far:
Read more: http://www.businessinsider.com/david-gregorys-interview-with-obama-2012-12#ixzz2GY2BZ4pN
“I was modestly optimistic yesterday, but we don’t see an agreement,” Obama told MTP host David Gregory in the interview, which was taped at the White House Saturday. ”We have been talking to the Republicans ever since the election was over. They have had trouble [...]
2 million Americans will lose unemployment insurance by January 1 and the debt ceiling limit being hit on December 31st.
To most of America the fiscal cliff is some sort of fiscal enigma. Most realize that we are spending more than we are bringing in and also that taxes are part of our system. What most have a harder time understanding is the machine of the Fed and how it selects [...]
One of the talking points of Congressional Republicans is that the reason the party has agreed to raise taxes for the entire country because the Republicans are worried about our debt and deficit problem.
That’s a load of hooey.
If the Republicans cared about the debt and deficit, there wouldn’t even be any Fiscal Cliff negotiations.
Because the Republicans would have long since gone on vacation, comfortable in the knowledge that the deficit is [...]
Washington’s Democratic and Republican power brokers have sent the message to the nation that going over the fiscal cliff is a worst-case scenario. But they’re not acting that way, not at all.
Instead, many of them have calculated that it’s better to go over the cliff — at least temporarily — than swallow a raw deal.
For many Republicans, a cliff dive means blaming President Barack Obama for a big tax hike in [...]
Congress approved US President Barack Obama’s hallmark health care bill nearly three years ago, but only in the coming weeks will Americans finally start to see the real price of the program.
A whole new slew of taxes are expected to be imposed starting January 1 to help pay for the health care plan, and that isn’t sitting pretty with some high-income households, or even the medical industry.
There will be a [...]
Over two million people will stop receiving jobless benefits immediately if Congress doesn’t make a #fiscalcliff deal:
WASHINGTON (KGO) — Millions of unemployed Americans have another reason to worry about “fiscal cliff” budget talks that seek to avoid looming tax increases and dire spending cuts come January.
About 2.1 million people will stop receiving jobless benefits immediately if Congress doesn’t reauthorize federal unemployment insurance programs by year’s end. Another 1 million [...]
Ron Paul’s Texas Straight Talk - Dec. 3, 2012.
Forget the cliff, the United States is broke.
Transcript is below. This is worth reading.
It’s the Spending, Stupid!
By Ron Paul
As the year draws to an end, America faces yet another Congressionally-manufactured crisis which will likely end in yet another 11th hour compromise, resulting in more government growth touted as “saving” the economy. While cutting taxes is always a good idea, setting up a [...]
December 3, 2012
Operators of small businesses are going to be cutting full time employees throughout 2013 to under 50, to stay under the Obamacare tax.
Here’s the thinking of one small business owner:
Here is what I am doing for the rest of the year — working with every manager in my company so that as of January 1, 2013, none of our employees are working more than 28 hours a week. I think [...]
Starting January 1 police in the southern Chinese island province of Hainan will board ships which enter what China considers its territory in the South China Sea, Ben Blanchard and Manuel Mogato of Reuters report.
“Activities such as entering the island province’s waters without permission … and engaging in publicity that threatens national security are illegal,” the China Daily said. “If foreign ships or crew members violate regulations, Hainan police have [...]
Joe Lueken, owner of Lueken’s Village Foods, will transfer ownership to his employees on January 1
Known in his community for generous spirit and incredible work ethic
Story reminiscent of holiday classic ‘It’s A Wonderful Life’
It truly is a wonderful life for the employees of a local Minnesota grocery store.
Retiring owner Joe Lueken, 70, who owns three separate Lueken’s Village Foods, is transferring ownership of his stores to his 400-some employees, at [...]
House Democratic leader Nancy Pelosi says she’s hopeful lawmakers can come to a deal to avoid a year-end ‘fiscal cliff” – but any agreement has to include tax rate increases for the wealthy.
She told morning show This Week that she can’t accept a deal that caps deductions and closes some loopholes but does not alter current tax rates for the wealthy.
The California Democrat says ‘just to close loopholes is far [...]
U.S. President Barack Obama is urging Congress to pass a law preventing an automatic tax hike on individuals and businesses on January 1.
During his weekly address Saturday, Obama said the middle class should not be held “hostage” while Congress debates tax cuts for people making more than $250,000 a year.
President Obama says he had a constructive meeting with congressional leaders Friday on lowering the deficit, protecting the middle class and [...]
President Obama and House Speaker John Boehner have each made cursory appeals to cooperation in the wake of Tuesday’s election. But they’re still making incompatible demands about the tax code. And on Friday, President Obama made clear that if Republicans reject the policy goal he campaigned on, all of the Bush tax cuts will expire.
“If we’re serious about reducing the deficit we have to combine spending cuts with revenue, and [...]
Of the twenty new or higher taxes in Obamacare, below are the five worst that will be foisted upon Americans for the first time on January 1, 2013.
Of the twenty new or higher taxes in Obamacare, below are the five worst that will be foisted upon Americans for the first time on January 1, 2013:
The Obamacare Medical Device Tax – a $20 billion tax increase: Medical device manufacturers employ 409,000 [...]
Excerpt from Casey Research
A trillion seconds was… just short of 32,000 years ago!
That’s back in the day when man wasn’t even known as MAN… we were homo sapiens, Neanderthals, to be exact!
The second from the right… Homo neanderthalensis.
I don’t know about you, but that certainly helps put it into perspective for me.
32,000 years ago, a trillion seconds, was a very, very long time ago.
And, if you earned a million dollars every single day of your [...]
The odds the United States will slip back into recession next year have risen, ratings agency Standard & Poor’s said, citing risks from the European debt crisis and budget tightening at year-end.
The US ratings firm raised the chance of the US falling into recession to 25 percent, up from a 20 percent chance estimated in February, as the world’s largest economy struggles to recover from a severe 2008-2009 slump.
It also [...]
From Zero Hedge:
All you need to know about the fiscal cliff which will savage the U.S. economy in under five months, unless Congress finds a way to compromise at a time when animosity and polarization is the worst it has ever been in history.
… And a Q&A from Goldman with its D.C. political economist Alec Phillips:
What is the “fiscal cliff”?
Alec: It’s the unhappy coincidence of about $600 billion in tax [...]
U.S. JUNE NEW-HOME SALES DROP 8.4% TO 350,000 ANNUAL RATE
Average and Median new home price: $273,900 and $242,600: both lowest since January.
Actual number of new houses sold in the Northeast in June: 1,000.
If you have a phone that can text or email by voice, next year you’ll be able to use it in your car legally – as long as you’re finger never touches the device.
California Governor Jerry Brown signed the “Freedom to Communicate” bill, which adds an exception to the anti-texting law. It states that devices “specifically designed and configured to allow voice-operated and hands-free operation to dictate, send, or listen to [...]
SPAIN STOCK MARKET REGULATOR BANS SHORT SELLING
SPAIN’S SHORT SELLING BAN INCLUDES DERIVATIVES, OTC INSTRUMENTS
SPAIN’S SHORT SELLING BAN COULD BE EXTENDED BEYOND 3 MONTHS
And just because in Europe one has to constantly outdo everyone else, the Spanish short selling ban is on all stocks, not just financials.
Next up on the banwagon: everyone else, now that the stigma of admitting 2012 is precisely just like 2011 (as we have been warning since January 1 [...]
OBAMACARE 3.8% REAL ESTATE TAX BECOMES EFFECTIVE JANUARY, 1, 2013.
Beginning January 1, 2013, a new 3.8 percent tax on some investment income will take effect. Since this new tax will affect some real estate transactions, it is important to clearly understand the tax and how it could impact you. It’s a complicated tax, so it’s difficult to predict how it will affect every buyer or seller.
To get you up to [...]
Speaking this week at the Western Economic Association International, economic forecaster Allen Sinai talked about the damage the “fiscal cliff” of 2013 will cause the economy. Sinai concludes that a recession is unavoidable if Congress does not act to fix the fiscal cliff.
The fiscal cliff has two components: (1) Taxmageddon, a $494 billion per year increase in tax increases set to take effect on January 1, 2013, and (2) federal [...]