A blast rocked a chemical plant in Louisiana killing at least one person and injuring eight last week. A similar explosion on Thursday at one of the hundreds of facilities in the state, claimed two lives and wounded around a hundred. Caleb Maupin from the Workers World Party and the International Action Center believes safety is being neglected for profits.
Nobody ever got successful by “getting a job”
People don’t get successful, by being employees, and therefore having the system be against them collecting money..
People only get successful by starting businesses or franchising them, and therefore having the system be in FAVOR, of them collecting money.
That’s a difference between being a businessman, and being a worker looking for “jobs”
You know whats wrong with the economy ?
We became a nation of employees [...]
Apple’s Tim Cook will make his debut testifying before Congress on Tuesday, when the chief executive will press lawmakers to simplify corporate taxes as well as defend the company’s tax practices.
Cook will appear before the Senate Homeland Security subcommittee on investigations, which is looking into what it calls “the structures and methods employed by multinational corporations to shift profits offshore” and how that affects taxes paid. Read hearing announcement and witness [...]
The middle class American worker is in danger of becoming an endangered species. The politicians are not telling you the truth, and the mainstream media is certainly not telling you the truth, but the reality is that there is nothing but bad news on the horizon for workers in the United States. In the old days, when the big corporations that dominate our society did well, that also [...]
From The Reformed Broker:
The health care sector, a big overweight in the portfolios we manage, probably needs to take a breather, having outperformed the galaxy in the first part of 2013. But the secular trend in demand for drugs and care looks to be a one-way trade when viewed through the prism of developed-world demography and the rapid adoption of modern medicine in the emerging nations.
And so from that standpoint, [...]
Previously, I’ve observed that S&P 500 revenues are highly correlated with both world industrial production and world exports. The same goes for these revenues and the CRB raw industrials spot price index. I am predicting that revenues will be up 5%-7% this year and next year.
If commodity prices weaken further, I will have to reassess this outlook, especially if the dollar continues to strengthen. There is a strong inverse correlation [...]
Apple is no longer the world’s most valuable publicly traded company
The US tech giant saw its profits for the period fall by 18 per cent
Its shares have hit their lowest levels in a year-and-a-half
Apple faces competition from Samsung which unveiled Galaxy S4 last month
Apple fell further behind rival Samsung in the battle of the smartphones with iPhone sales slowing and profits falling for the first time in ten years.
In the [...]
Ron Johnson is out at JCPenney, and former CEO Mike Ullman will take his place in the interim.
The new leader represents a “kiss of death wrapped in a smile” for the retailer, which will likely go private soon, Brian Sozzi, chief equities strategist at Belus Capital Advisors told us.
He said that Ullman, who is known for his aggressive promotions, will set the company up for poor profits after it burned through available cash on its turnaround strategy, [...]
BERKELEY – US President Barack Obama has called for additional revenue as part of a balanced plan to reduce future budget deficits. But he is also proposing a significant cut in the corporate tax rate. To many, this approach seems inconsistent: Shouldn’t the corporate tax rate be raised, not lowered, so that corporations contribute their “fair share” to deficit reduction? The answer is no.
After its 1986 tax overhaul, the United States had one [...]
The $639 trillion over-the-counter derivatives market began the largest transformation in its 30-year history Monday with rules intended to contain another financial crisis, trimming profits for Wall Street banks.
Companies from JPMorgan Chase to BlackRock are now required under the 2010 Dodd-Frank Act to have most of their privately negotiated swaps trades backed by a clearinghouse that’s capitalized by the world’s largest banks.
That means dealers and their customers have to post up-front collateral [...]
On Friday at midnight, the sequester kicked in, triggering $85 billion in deep, dumb budget cuts that sent “nonessential personnel”— such as air traffic controllers — packing.
Not to worry, though: Wall Street’s day was pretty much like any other. Billions of dollars in profits were made off of trillions of dollars in financial transactions. And the vast majority of those transactions were conducted tax-free.
Moral of the story: What else is new?
Crash the [...]
British banks may be harbouring a black hole of as much as £50bn in undeclared losses that do not show up in their accounts but hamper their efforts to lend, a shareholder group has warned.
by Louise Armitstead, The Telegraph:
PIRC has calculated the amount of bad debts the banks may have to write off in coming years but have yet to subtract from profits, together with other items such as deferred bonuses [...]
Greece is facing a serious shortage of medicines amid claims that pharmaceutical multinationals have halted shipments to the country because of the economic crisis and concerns that the drugs will be exported by middlemen because prices are higher in other European countries.
Hundreds of drugs are in short supply and the situation is getting worse, according to the Greek drug regulator. The government has drawn up a list of more than 50 [...]
by John Aziz, Azizonomics:
According to Bloomberg, the vast majority of the Big Five banks’ profits consisted of a taxpayer subsidy — the Too Big To Fail guarantee. If the Too Big To Fail banks had to lend at the rates offered to their non-Too Big to Fail competitors, their profits would be severely shrunk (in some cases, to a net loss):
What does that mean?
That means that the American financial sector is [...]
Launching a lawsuit against the very company that is responsible for a farmer suicide every 30 minutes, 5 million farmers are now suing Monsanto for as much as 6.2 billion euros (around 7.7 billion US dollars). The reason? As with many other cases, such as the ones that led certain farming regions to be known as the ‘suicide belt’, Monsanto has been reportedly taxing the farmers to financial shambles with [...]
Bruce Berkowitz, founder of Fairholme Capital Management, spoke with Bloomberg TV’s Erik Schatzker about moving beyond mutual funds, his decision to close existing funds to new investors and why he likes financials. Berkowitz said, “Mutual funds are great vehicles…They’re transparent. They give investors daily liquidity. They’re highly regulated. But there are also constraints that go along with that.”
Berkowitz, who is raising money for a partnership that takes minimum investments of [...]
The amount of evidence stacking up that hedge funds, mutual funds and even private equity do not provide value for their investors is just staggering.
The latest figures reported in the FT showed that 70% of the profits of private equity had been gobbled up by the managers rather than the investors. While there are certainly signs that the public’s tolerance of excessive fees and executive pay is falling, the likelihood of significant [...]
Apple Inc. Chief Executive Officer Tim Cook is feeling the heat.
Eighteen months after taking over from Steve Jobs, Cook is facing rising production costs, competition from Samsung Electronics Co. and slowing growth in smartphones, threatening profits for the world’s most valuable company.
An earnings report tomorrow may show that fiscal first- quarter net income slipped 2 percent to $12.8 billion, or $13.48 a share, according to analysts’ estimates compiled by Bloomberg. That would be the first drop since [...]
In this episode, Max Keiser and Stacy Herbert discuss the economics of wealth and wage extinction. They talk about hunger wages, household income and the hedge funds reaping huge profits off this wealth and wage extinction.
In this episode, Max Keiser and Stacy Herbert discuss the economics of wealth and wage extinction. They talk about hunger wages, household income and the hedge funds reaping huge profits off this wealth and wage extinction. In the second half of the show, Max Keiser talks to Captain Paul Watson on a ship in the Southern Ocean in Antarctica fighting the economics of extinction as practised by the Japanese whaling [...]
just as Chertof was connected to
the underwear bomber so the gov
could pass the TSA Law and Chertof
made millions off TSA Scanners
so we find the same deal with Sandy Hook.
GE has just announced a revolutionary
new multiple sensor RFID Chip but there
is no market for it
not unless you make the public fear
for their lives and the gov passes
gun laws that say that you have to get
your gun chipped BY LAW.
then the stockholders [...]
No vote in the House tonight, for sure, so technically we are going to hit The Fiscal Cliff.
That doesn’t mean that there isn’t almost a deal done.
Voting tomorrow or the next day might help the GOP at the margins, so it can claim it never voted to raise taxes.
Read more: http://www.businessinsider.com/technically-we-are-going-to-hit-the-fiscal-cliff-2012-12#ixzz2GfTZreJl
US officially hits debt ceiling, Treasury Secretary Timothy Geithner says
BREAKING REPORT: House Won’t Take Cliff Vote On Monday
The U.S. House of [...]
Most have very fond memories of their college going years. Going off to college is one of the few rites of passage that we have in the United States ushering future generations into official adulthood. Yet the cost to attend this passage has gottenastronomically expensive. College has now turned into a very large business funded by deep levels of student debt. In the past, the state took on a larger [...]
‘To maximize profits and to hide its weakness during the crisis.’
Very short clip from earlier today.
UBS Libor Traders Face U.S. Criminal Charges
Speed Read: The Juiciest Bits From the UBS LIBOR Settlement
Google Inc. (GOOG) avoided about $2 billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a Bermuda shell company, almost double the total from three years before, filings show.
By legally funneling profits from overseas subsidiaries into Bermuda, which doesn’t have a corporate income tax, Google cut its overall tax rate almost in half. The amount moved to Bermuda is equivalent to about 80 percent of [...]
“Cancer is finally cured in Canada but Big Pharma has no interest.
is finally cured in Canada but Big Pharma has no interest. The fact
that the international drug & medical industry have no interest is
because the cure is really cheaper than a chocolate bar and it won’t get
them to gain any profits at all. Besides, if people had the cure so
easily, how will these medical companies make money out of that? [...]
Staggering Levels of Fraud For Years On End …
The shadow banking system is bigger now than when the financial crisis started.
Not only does that e destabilize the economic system, but it allows for pervasive fraud.
As Max Keiser explains, massive fraud has continuously taken place over many years … as banks shift their liabilities into the shadow banking system during audit time – with the help of accounting firms andthe government – and then bring them back onto the books as soon [...]
“Microsoft isn’t happy about a new tax on companies foreign profits
It takes an incredibly powerful company to threaten the U.S. government in hopes of impacting a significant decision, but that’s precisely what Microsoft is doing. Microsoft CEO Steve Ballmer made headlines when he publicly attacked President Barack Obama’s plan to cut tax breaks on U.S. companies’ foreign profits, a plan which is currently awaiting Congressional approval.
Mr. Ballmer suggests that if [...]