Coke chief criticises US tax rules - FT.com
Coca-Cola now sees the US becoming a less friendly business environment than China, its chief executive has revealed, citing political gridlock and an antiquated tax structure as reasons its home market has become less competitive
Monday, September 26, 2011
Last Chance to Avoid Global Catastrophe?
The PJ Tatler » Last Chance to Avoid Global Catastrophe?
Last Chance to Avoid Global Catastrophe?
Treasury Secretary Geithner thinks so: “The threat of cascading default, bank runs, and catastrophic risk must be taken off the table.
Sovereign and banking stresses in Europe are the most serious risk now confronting the world economy.
Decisions cannot wait until the crisis gets more severe.”
From the same Telegraph write up:
The International Monetary Fund warned last week that emerging markets face the risk of “sharp reversals” or even a “sudden stop” if there is further spill-over from Europe.
This comes at a time when Asia and parts of Latin America are already in the topping phase of a credit boom, one of epic proportions in China where loans have doubled to almost 200pc of GDP over the last five years.
Warning signs have been flashing red for the last three weeks.
Shares of China’s top property developer Greentown have crashed by a third this month.
The currencies of Indonesia, Brazil, Korea, South Africa, and Hungary have all buckled, and central banks have begun intervening to stop the slide.
“A continued flight from risk raises the growing possibility of investor capitulation in emerging markets,” said Neil Mellor from BNY Mellon.
Feeling better now?
UPDATE: And now the IMF is broke.
Last Chance to Avoid Global Catastrophe?
Treasury Secretary Geithner thinks so: “The threat of cascading default, bank runs, and catastrophic risk must be taken off the table.
Sovereign and banking stresses in Europe are the most serious risk now confronting the world economy.
Decisions cannot wait until the crisis gets more severe.”
From the same Telegraph write up:
The International Monetary Fund warned last week that emerging markets face the risk of “sharp reversals” or even a “sudden stop” if there is further spill-over from Europe.
This comes at a time when Asia and parts of Latin America are already in the topping phase of a credit boom, one of epic proportions in China where loans have doubled to almost 200pc of GDP over the last five years.
Warning signs have been flashing red for the last three weeks.
Shares of China’s top property developer Greentown have crashed by a third this month.
The currencies of Indonesia, Brazil, Korea, South Africa, and Hungary have all buckled, and central banks have begun intervening to stop the slide.
“A continued flight from risk raises the growing possibility of investor capitulation in emerging markets,” said Neil Mellor from BNY Mellon.
Feeling better now?
UPDATE: And now the IMF is broke.
Why Saugatuck is losing S.S. Keewatin Steamship Museum to Canada
Why Saugatuck is losing S.S. Keewatin Steamship Museum to Canada MLive.com
I suspect the real reason is the value of the Keewatin's dock.
I suspect the real reason is the value of the Keewatin's dock.
Coffee reduces depression risk?
Coffee reduces depression risk? JunkScience.com
Though we love caffeine as much as the next awake person, Willet and Ascherio’s reported correlations (e.g., a relative risk of 0.82 for 4 or more cups of coffee per day) are too small to be credible.
As is standard with Nurses Health Study junk science, exposures, disease and confounding risk factors are all self-reported and, hence, not reliable. Simply put, bad data do not make for a credible statistical analysis.
No doubt Willet and Ascherio are relying on the intuitive nature of their claim to carry the day with the unsuspecting public and the ever-gullible media.
Coffee keeps you awake, but not from being sad about it.
Though we love caffeine as much as the next awake person, Willet and Ascherio’s reported correlations (e.g., a relative risk of 0.82 for 4 or more cups of coffee per day) are too small to be credible.
As is standard with Nurses Health Study junk science, exposures, disease and confounding risk factors are all self-reported and, hence, not reliable. Simply put, bad data do not make for a credible statistical analysis.
No doubt Willet and Ascherio are relying on the intuitive nature of their claim to carry the day with the unsuspecting public and the ever-gullible media.
Coffee keeps you awake, but not from being sad about it.
Obama gaffe: President says billionaires should pay ‘Jew’ tax rate
Obama gaffe: President says billionaires should pay ‘Jew’ tax rate The Daily Caller
“If asking a billionaire to pay the same tax rate as a Jew — as a janitor — makes me a warrior for the working class, I wear that as a badge of honor.”
“If asking a billionaire to pay the same tax rate as a Jew — as a janitor — makes me a warrior for the working class, I wear that as a badge of honor.”
Sunday, September 25, 2011
Illinois taxpayers repeat, "Please sir, may I have another?
Kass: Illinois taxpayers repeat, "Please sir, may I have another? - chicagotribune.com
Then you must be in Illinois.
That's the state where Chicago machine politicians and their union muscle boys slap taxpayers in the mouth, year after year after year, and all voters do is repeat that line from "Animal House,"
"Thank you, sir, may I have another?"
Then you must be in Illinois.
That's the state where Chicago machine politicians and their union muscle boys slap taxpayers in the mouth, year after year after year, and all voters do is repeat that line from "Animal House,"
"Thank you, sir, may I have another?"
Stabenow, White House official disagree over separation of waterways to prevent spread of Asian carp into the Great Lakes
Stabenow, White House official disagree over separation of waterways to prevent spread of Asian carp into the Great Lakes MLive.com
U.S. Sen. Debbie Stabenow renewed a call to close the Chicago shipping locks and create a permanent ecological separation of the Mississippi River basin and the Great Lakes to prevent an invasion of giant Asian carp.
But a White House official rebuffed the plea, saying more study must happen to prevent unintended consequences.
Debbie who?
She's been sittin' on the union bosses laps so long she doesn't even know where Michigan is.
It sure is great she's "on" the carp trail....right?
U.S. Sen. Debbie Stabenow renewed a call to close the Chicago shipping locks and create a permanent ecological separation of the Mississippi River basin and the Great Lakes to prevent an invasion of giant Asian carp.
But a White House official rebuffed the plea, saying more study must happen to prevent unintended consequences.
Debbie who?
She's been sittin' on the union bosses laps so long she doesn't even know where Michigan is.
It sure is great she's "on" the carp trail....right?
Federal Loans Fund Big-Ticket Energy Projects At Firms Outside Of U.S.
Federal Loans Fund Big-Ticket Energy Projects At Firms Outside Of U.S. Fox News
Among the biggest recipients on the Department of Energy's controversial list of loans to renewable energy companies like the failed Solyndra Inc. are a number of non-U.S. firms whose big-ticket energy projects will cost taxpayers billions of dollars -- but will generate no more than a few hundred permanent U.S. jobs.
Among the biggest recipients on the Department of Energy's controversial list of loans to renewable energy companies like the failed Solyndra Inc. are a number of non-U.S. firms whose big-ticket energy projects will cost taxpayers billions of dollars -- but will generate no more than a few hundred permanent U.S. jobs.
The Latest Ugly Truth About Pakistan
The Latest Ugly Truth About Pakistan - NYTimes.com
Inter-Services Intelligence — played a direct role in supporting insurgents who attacked the American Embassy in Kabul last week, killing 16 people.
He also said that with ISI support, the Haqqani network of terrorists planned and conducted an earlier truck bombing on a NATO outpost that killed 5 people and wounded 77 coalition troops, and other recent attacks.
Inter-Services Intelligence — played a direct role in supporting insurgents who attacked the American Embassy in Kabul last week, killing 16 people.
He also said that with ISI support, the Haqqani network of terrorists planned and conducted an earlier truck bombing on a NATO outpost that killed 5 people and wounded 77 coalition troops, and other recent attacks.
Top 10 Green Job Fiascoes
Top 10 Green Job Fiascoes - HUMAN EVENTS
Of course, when the government tries to intrude in the marketplace, bad things happen.
Such as these: the Top 10 Green Job Fiascoes.
Of course, when the government tries to intrude in the marketplace, bad things happen.
Such as these: the Top 10 Green Job Fiascoes.
Teachers unions, school groups give mixed reviews to Obama No Child Left behind waivers | MLive.com
Teachers unions, school groups give mixed reviews to Obama No Child Left behind waivers MLive.com: The union approves of offering more options to improve failing schools and the move to college- and career-ready standards.
Kollege redi!
That sure beats teechin' reedin ritin ritmatik.
Don't it?
Kollege redi!
That sure beats teechin' reedin ritin ritmatik.
Don't it?
How Cain won Florida
York: How Cain won Florida Campaign 2012
Once the delegates got over the can't-get-elected hurdle, a close contest became a landslide for Herman Cain.
Once the delegates got over the can't-get-elected hurdle, a close contest became a landslide for Herman Cain.
Churchill, chance and the 'black dog'
BBC News - A Point of View: Churchill, chance and the 'black dog'
If Bracken hadn't left Australia to reinvent himself as an Englishman and appointed himself as Churchill's faithful protector;
if Beaverbrook and Bracken hadn't found Churchill brooding in his club;
if Bracken hadn't succeeded in persuading Churchill to remain silent;
and if Churchill hadn't been prepared for the desperate struggle that followed by the visits of the black dog, history would have been very different and the world darker than anything we can easily imagine.
If Bracken hadn't left Australia to reinvent himself as an Englishman and appointed himself as Churchill's faithful protector;
if Beaverbrook and Bracken hadn't found Churchill brooding in his club;
if Bracken hadn't succeeded in persuading Churchill to remain silent;
and if Churchill hadn't been prepared for the desperate struggle that followed by the visits of the black dog, history would have been very different and the world darker than anything we can easily imagine.
Stephen Colbert: 'Let's pray satellite lands in Detroit'
Stephen Colbert: 'Let's pray satellite lands in Detroit' MLive.com
"As we speak a defunct satellite is hurtling toward the Earth where it will destroy everything in it's path. Let's just pray it lands somewhere where it can't do any damage -- like Detroit," Colbert said.
You know, you can't even get angry at these type of sentiments anymore.
Can you imagine what Al Sharpton and the Detroit extorters would demand from US taxpayers if a chunk of space junk flattened a hovel in Dead Town?
"As we speak a defunct satellite is hurtling toward the Earth where it will destroy everything in it's path. Let's just pray it lands somewhere where it can't do any damage -- like Detroit," Colbert said.
You know, you can't even get angry at these type of sentiments anymore.
Can you imagine what Al Sharpton and the Detroit extorters would demand from US taxpayers if a chunk of space junk flattened a hovel in Dead Town?
Renewable Energy Subsidies Are a Waste of Money
Renewable Energy Subsidies Are a Waste of Money
Last month solar companies Spectra Watt in New York, Evergreen Solar in Massachusetts, and Solyndra Solar in California went bankrupt.
All companies had extensive subsidies from state and federal governments.
Taxpayer losses most likely exceeded $1 billion.
All three states have high electricity costs due to banning coal use and mandating renewable energy sources for electricity production.
Last month solar companies Spectra Watt in New York, Evergreen Solar in Massachusetts, and Solyndra Solar in California went bankrupt.
All companies had extensive subsidies from state and federal governments.
Taxpayer losses most likely exceeded $1 billion.
All three states have high electricity costs due to banning coal use and mandating renewable energy sources for electricity production.
Meet Olga Stefou, a Perfect Symbol of Greece’s Downfall
Meet Olga Stefou, a Perfect Symbol of Greece’s Downfall « International Liberty
The Los Angeles Times has a story that provides an inside look at the attitudes that have contributed to Greece’s fiscal collapse.
Let’s start with Olga Stefou, who is a good (or bad) symbol for her nation’s downfall.
She protests in favor of bigger government, naively asserting that the budget shortfall can be solved by pulling 122 troops out of Afghanistan and taxing the Orthodox Church.
Olga’s entitlement mentality is not unusual.
The story also notes that young Greek women think a government job is the most desirable thing in a potential mate. At the risk of being politically incorrect, the people of Greece (at least the ones in the moocher class) deserve a miserable future.
The Los Angeles Times has a story that provides an inside look at the attitudes that have contributed to Greece’s fiscal collapse.
Let’s start with Olga Stefou, who is a good (or bad) symbol for her nation’s downfall.
She protests in favor of bigger government, naively asserting that the budget shortfall can be solved by pulling 122 troops out of Afghanistan and taxing the Orthodox Church.
Olga’s entitlement mentality is not unusual.
The story also notes that young Greek women think a government job is the most desirable thing in a potential mate. At the risk of being politically incorrect, the people of Greece (at least the ones in the moocher class) deserve a miserable future.
Organizers raising money for 'Snurfer' statue expected to go in downtown Muskegon next spring
Organizers raising money for 'Snurfer' statue expected to go in downtown Muskegon next spring MLive.com: The piece has a price tag of about $50,000, with $35,000 already committed by local individuals, businesses and organizations.
Organizers hope to have the remaining $15,000 raised by mid-October.
That's enough to cover the cost of raw materials, contracting with the artist and mounting and shipping the sculpture.
Contributors giving $1,000 or more will get a commemorative plaque on the statue's platform.
Wow!
A nifty new statue from the deep pockets of our betters!
Waaay better for our city than ....say....a functioning school system.
Wait til the unwashed see the Snurfer........land rush to Muskegon!
Organizers hope to have the remaining $15,000 raised by mid-October.
That's enough to cover the cost of raw materials, contracting with the artist and mounting and shipping the sculpture.
Contributors giving $1,000 or more will get a commemorative plaque on the statue's platform.
Wow!
A nifty new statue from the deep pockets of our betters!
Waaay better for our city than ....say....a functioning school system.
Wait til the unwashed see the Snurfer........land rush to Muskegon!
EPA To Shut Down 20% of Coal Plants in 2012
EPA To Shut Down 20% of Coal Plants in 2012 - Helen Whalen Cohen
"Obama's EPA Cues 130 Billion Race to Cut Pollution By 2015", she reports that the EPA will shut down 20 percent of coal plants through the Cross-State Air Pollution Rule.
"Obama's EPA Cues 130 Billion Race to Cut Pollution By 2015", she reports that the EPA will shut down 20 percent of coal plants through the Cross-State Air Pollution Rule.
Problems For The President: Americans Give Him Lowest Approval Rating Ever
Problems For The President: Americans Give Him Lowest Approval Rating Ever YouGov US Opinion Center
57% believes most of what he says is what he wants people to hear, and not what he really believes.
That is one point short of the highest percentage recorded on this question in this poll.
57% believes most of what he says is what he wants people to hear, and not what he really believes.
That is one point short of the highest percentage recorded on this question in this poll.
Saturday, September 24, 2011
The Latest Ugly Truth About Pakistan
The Latest Ugly Truth About Pakistan - NYTimes.com
Pakistan’s spy agency — Inter-Services Intelligence — played a direct role in supporting insurgents who attacked the American Embassy in Kabul last week, killing 16 people.
He also said that with ISI support, the Haqqani network of terrorists planned and conducted an earlier truck bombing on a NATO outpost that killed 5 people and wounded 77 coalition troops, and other recent attacks.
Pakistan’s spy agency — Inter-Services Intelligence — played a direct role in supporting insurgents who attacked the American Embassy in Kabul last week, killing 16 people.
He also said that with ISI support, the Haqqani network of terrorists planned and conducted an earlier truck bombing on a NATO outpost that killed 5 people and wounded 77 coalition troops, and other recent attacks.
Mrs. Warren’s profession, cont’d
Mrs. Warren’s profession, cont’d Power Line
President Obama operates on a different philosophy of government from that of the Founders.
His credo is reflected in the proposition: “I think at some point you have made enough money.”
The Founders thought that at some point the government had enough power.
Obama, however, is a devout believer in unlimited government.
President Obama operates on a different philosophy of government from that of the Founders.
His credo is reflected in the proposition: “I think at some point you have made enough money.”
The Founders thought that at some point the government had enough power.
Obama, however, is a devout believer in unlimited government.
Five Myths About Millionaires
Instapundit » Blog Archive »
WASHINGTON POST:
Five Myths About Millionaires.
Including this one: “In a speech on Monday, Obama said raising taxes on millionaires isn’t class warfare, but ‘math.’
His math may be off: According to the IRS, those with adjusted gross incomes of more than $1 million paid an average of 23.3 percent in federal income taxes in 2008; those earning between $100,000 and $200,000 paid 12.7 percent; and those earning between $50,000 and $100,000 paid 8.9 percent.
Half of American families don’t make enough money to pay income taxes at all.”
And that’s the real problem.
Everyone should have skin in the game.
UPDATE: A couple of readers suggest that payroll taxes provide the necessary skin.
Well, yes and no.
On the one hand, payroll taxes for Social Security, etc., are allegedly more like insurance premiums — and they’re not paid by those who aren’t working, or who are working under the table.
On the other hand, the fact that we’re currently enjoying a payroll-tax reduction that will be politically hard to eliminate suggests that where more people have a stake, there’s more pressure for lower taxes.
Want to bet that if everyone paid income taxes, and if, as I’ve suggested before, the amount always went up when federal spending went up, we’d see a lot more resistance to increased federal spending?
WASHINGTON POST:
Five Myths About Millionaires.
Including this one: “In a speech on Monday, Obama said raising taxes on millionaires isn’t class warfare, but ‘math.’
His math may be off: According to the IRS, those with adjusted gross incomes of more than $1 million paid an average of 23.3 percent in federal income taxes in 2008; those earning between $100,000 and $200,000 paid 12.7 percent; and those earning between $50,000 and $100,000 paid 8.9 percent.
Half of American families don’t make enough money to pay income taxes at all.”
And that’s the real problem.
Everyone should have skin in the game.
UPDATE: A couple of readers suggest that payroll taxes provide the necessary skin.
Well, yes and no.
On the one hand, payroll taxes for Social Security, etc., are allegedly more like insurance premiums — and they’re not paid by those who aren’t working, or who are working under the table.
On the other hand, the fact that we’re currently enjoying a payroll-tax reduction that will be politically hard to eliminate suggests that where more people have a stake, there’s more pressure for lower taxes.
Want to bet that if everyone paid income taxes, and if, as I’ve suggested before, the amount always went up when federal spending went up, we’d see a lot more resistance to increased federal spending?
Why not pay back taxpayers first?
Why not pay back taxpayers first? « » Print The Daily Caller
The $15 billion aside, if GM is so profitable it can afford to give its new hires a raise and all its UAW workers plush health benefits and a big bonus, that’s great.
But why do I fear the economic assumptions underlying these numbers will prove to be unrealistic?
......Plus the whole new car market may be shrinking as the economy stalls.
The $15 billion aside, if GM is so profitable it can afford to give its new hires a raise and all its UAW workers plush health benefits and a big bonus, that’s great.
But why do I fear the economic assumptions underlying these numbers will prove to be unrealistic?
......Plus the whole new car market may be shrinking as the economy stalls.
Chart of the Day: 15-Yr. Fixed Rates at Record Low
CARPE DIEM: Chart of the Day: 15-Yr. Fixed Rates at Record Low
The 15-year fixed mortgage rate fell to a new all-time low this week of 3.29%, according to Freddie Mac.
Imagine what housing sales would be without these record setting low mortgage rates.
The situation is worse than it seems.
The 15-year fixed mortgage rate fell to a new all-time low this week of 3.29%, according to Freddie Mac.
Imagine what housing sales would be without these record setting low mortgage rates.
The situation is worse than it seems.
Subscribe to:
Comments (Atom)