The Way Forward
by Charles Hugh-Smith
April 25, 2013
Absolutely nothing within the Status Quo can possibly be truly reformed until the default option of doing nothing will guarantee collapse.
Even those at the top of the neofeudal debtocracy know our economy and political order need real reform. Behind closed doors, they will discuss this with others in the Power Elite and gloomily shake their heads.
The usual reasons why real reform is impossible are duly [...]
December 10, 2012
The US economy is sluggish with fears of a new recession. The Democrats and Republicans once more cannot agree on what to do about the alleged “fiscal cliff” that threatens to further unravel the economy, even as analysts say that the whole notion of going over the “cliff “ has been fabricated by the right to force more cuts in social benefits.
Consumer confidence is dipping in this [...]
Stock Market Is Going To Crash Tomorrow? Breaking: Apple Earnings Miss, But iPhone Crushes, Cut Q4 Forecast To $11.75 From $15.45, And iPad Is Weak
Here is what Apple reported versus expectations here. (Expectations via Gene Munster at Piper Jaffray.):
Revenue: $36 billion versus $36 billion expected.
EPS: $8.67 versus $8.81 expected.
iPhone: 26.9 million versus 25.3 million expected.
iPad: 14 million versus 15 million expected (See below for explanation on this estimate).
Mac: 4.9 million versus 5 million expected.
iPod: 5.3 million versus 5.5 million expected.
Gross Margin: 40% [...]
London Gold Market Report
from Ben Traynor
Monday 24 September 2012, 07:15 EDT
Gold “Still a Buy” as “Alternative to Money”, Indian Demand Up as Prices Fall
WHOLESALE MARKET gold bullion prices dropped to $1757 an ounce Monday morning in London – 1.7% off a seven-month high hit briefly last Friday – as stocks, commodities and the Euro also ticked lower and US Treasuries gained amid signs of ongoing political stalemate in Europe.
Silver bullion dropped to $33.71 [...]
Queues form as desperate people received food handouts from Crete’s farmers
Antonis Samaras sworn in as prime minister as head of conservative-led three party coalition
New coalition vows to renegotiate crippling bailout agreement to ease burden on debt-crippled country
Greek stocks rose marginally in response to the coalition deal
Greece had been effectively ungoverned after two election in six weeks resulted in political stalemate
Country struggling through a fifth year of recession, with unemployment spiraling [...]
Yields for 10-year government bonds in Spain and Italy rose sharply on Monday amid concerns about political stalemate in Greece and worries about Spanish banks in the wake of fresh provisioning rules last week. According to FactSet Research, the yield on the Spanish bond ES:10YR_ESP +4.65% surged 24 basis points to 6.22%, while those for the Italian bond IT:10YR_ITA +3.52% soared 32 basis points to 5.75%. The 10-year German government bond yields GR:10YR_GRE 0.00% dropped 5 basis points [...]
WASHINGTON—Congressional leaders reached an agreement Thursday to temporarily extend a payroll-tax cut by two months and begin negotiations on a yearlong extension, aides said.
The agreement could end a political stalemate over the payroll-tax cut, which lowered Social Security taxes for 160 million Americans in 2011. Under the tentative agreement, the House will vote again on a two-month extension and the Senate will prepare to negotiate for an extension that will [...]
PRINCETON, NJ — U.S. investor optimism declined in September, as the Wells Fargo/Gallup Investor and Retirement Optimism Index plunged to -45 from +33 in May after +42 in February. The index is now back at the financial crisis levels of late 2008.
The Wells Fargo/Gallup Investor and Retirement Optimism Index is a broad measure of investor perceptions that tends to be a precursor of future economic [...]
MADISON, Wis. — A Dane County judge has issued a restraining order on Friday to block publication of the state’s collective bargaining law.Judge Maryann Sumi issued the order to temporarily block the law as Dane County District Attorney Ismael Ozanne had requested as part of his lawsuit.Ozanne filed a lawsuit on Wednesday accusing Republican legislative leaders of violating Wisconsin’s open meetings law during the rushed [...]
Mark Cooper, director of research for the Consumer Federation of America (CFA), says Netflix should have to pay into the Universal Service Fund.
“The Internet is not an infant industry anymore. It can certainly bear the burden of making sure that wires and the communications mediums are there,” Cooper said.
Phone companies pay into the Federal Communications Commission’s $8 billion telecom fund, which subsidizes phone service [...]