The prospect of Rupert Murdoch abandoning his British media interests became a real possibility last night as News Corp dropped plans to take control of BSkyB and it emerged that the media mogul has discussed selling his News International newspaper titles.
The decision to withdraw the £8bn bid for BSkyB came ahead of a House of Commons vote on a motion, backed by the leaders of all three main political parties, to block the News Corp deal. But even News Corp's current 39 per cent stake in the satellite broadcaster is now at risk from a "fit and proper" test being conducted by the media regulator, Ofcom.
Although the statements of the Fed Chair do move markets, including Gold. Well, QE3 automatically is buying up U.S. Treasuries, so it's an insane "trickle upon" idea in the first place, but does lower the dollar would should help with exports some, but all of this is unbelievably indirect.
I believe it also is to curtail deflation.
The all mighty Fed cannot enact real policy, such as slapping a tariff on Chinese goods for currency manipulation, or enacting laws to curtail offshore outsourcing and any such simply 1 page legislation items that are projected to have a big impact, a positive impact, on U.S. jobs...
So, I have a tendency to give the Fed a break on this "econommic stimulus", for I don't see the real tools being under their charter...i.e. monetary policy really. I mean you can inflate a housing bubble with it, affect credit with it, deal with international exchanges and on and on but you cannot, w/ surgical precision, stop corporations from offshore outsourcing jobs or investing in China instead of the U.S. That's Congress and this administration who are inept this time.
Very nice insight on the end game of labor arbitrage, Numerian, you wipe out financially, not just workers, but the entire economy and your corporate bottom line.
I think Tonelson (I don't know who was first) coined this as the great race to the bottom.
Bloomberg is reporting Bernanke clarified and said there won't be any QE3 "at this time", whatever that means. But he cited inflation as one reason. Ok, yesterday he testified things could change and the financial world went nuts over the idea of QE3.
Philosophy. He gets it right many times but he's operating under some strange philosophy. The gold standard, many believe, kept the system more stable.
Is there anyone out there makong rational long term forecasts of the housing market? Six month forecasts are like trying to predict the outcome of the football game in the first quarter based upon a 3 and out ball possession performance.
If the $8.5 billion were used to help Bank of America to maintain their housing stock in a safe and mortgagable condition, the value of those homes would increase. If they were maintained they could be sold to everyday americans. Right now these repos are being sold to investors for low low cash prices due to their neglected condition. This just forces the prices lower and lower. And the assets get even more toxic. Bank of America it is time for detox. The investors will benifit when the realestate market comes back.
I enjoyed the read and have passed it along to several friends and colleagues.
I work in a business built on labor arbitrage for higher income skills. Our off-shore labor rates are increasing as the maturity grows and the market gets saturated with more players with smaller margin expectations on their labor.
While I think that there is a little Doomsday prognosticating here, the facts of the current state are just that: facts. It is important for people to realize that China is having issues with their growth. And we are reaching (maybe at) the point where how goes China so goes the rest of the world. So it follows that if China makes policy or investment mistakes as they navigate the tricky waters of Communistic Capitalism, we will all suffer.
If gold is "just another commodity," why bother to scare the gold bugs? If he does a QE3, it should be targeted to reduce the absurd debt burden on the middle class. not to do favors for banks.
We're at a critical juncture in this affair with Rockefeller's comments. The 'big boys' are squaring off and it may be quite a fight, although Rockefeller is not quite the typical big boy. He humiliated the CEO of one of the big banks is a fashion that warmed my heart. His motivation isn't ours. He was astounded at how stupid the banker sounded, how indifferent to the people. Rockefeller knows you can't pick every apple in the orchard and take a hike.
The use of 9/11, however, is the key. In the AM talk circuit, which I saw for the first and last time ever today, they mentioned his criticism but nothing about 9/11. That was the whole purpose of the statement. But those who needed to hear it got an earful. Murdoch must be just appalled that he's getting this on his purported safe flank. Rockefeller's comment was like dropping a tactical nuke on News Corp USA. If that's where he's starting, Murdoch must be thinking, where will e go. Rupert, he'll drag you to Hell, drop you off, and have a nice car waiting to take him back. T
The British Civil War gave us the form of our Revolution which we implemented based on local conditions. Slavery ruined everything. It skewed voting. In addition, the notion of the people as a viable force was very clear to the Army at the Putney debates. They called for one legislative chamber, based on equally proportioned districts. We have a Senate, our Lords.
But the Civil War of Putney and Fairfax was a noble effort. Now we have the spontaneous noble effort of a people with enough basic moral strength to know when they've been affronted by Murdoch's crimes. It's Antigone. Murdoch is Creon (they're all Creon) committing the act that is an affront and insult to the common decency. Instead of Antigone, a heroic character from a rival clan aligned against Creon/Murdoch, we find the entire British public.
The power of these people and their fundamental code is so strong, even the pols paid off by Murdoch can't resist. That could be their gift to us, a clear model of what can be done when we unite. This isn't over yet but the first act has come to a close with Murdoch losing Cameron. What will he do without his political arm? He can't survive without regulatory favors (personal/business favors in the mask of governance). He can't attack specific groups or politicians. His dirty tricks are no longer effective. If he tries any of that in the UK, they'll file for his extradition.
Murdoch is a tyrant without power among those against whom he has used power with such cruel intent.
Imagine that you and I start a business, bilk the customers, and fritter away almost all of the core assets. We have lunch and calmly decide that we're going to do. What else, since we're made men in the Money Party. We go to the Feds and get a $5.0 bil contract for something or other and we're whole again. Wd're special so we don't get arrested. They we spread around some joy at our good fortune and it starts all over again.
But as I point out, anything dealing with immigration, labor supply, controlling labor supply and so on, that's when things get weird and a lot of it has to do with people's philosophies.
Give me a break, e-verify is simply not a budget buster. Processing 20 million new people assuredly would be though.
But that was the claim, it would bust up the SS budget having to administer, but that's just not true, the pilot program is already in place and works fine.
That criminal's performance today only reinforced what so many people are now catching on to: There is no better pro jobs, pro growth, pro anything economic policy the United States can pursue that would be more effective than abolishing the Federal Reserve.
It is the very root cause of the boom/bust cycles, and the never ending bubble blowing that has resulted in the trillions of malinvestment that has gotten us into this mess.
And it digs us deeper and deeper with it's endless shell game to try and "extend and pretend" away the insolvency of the tbtf banks. To that end Bernanke doesn't care how many of the working poor he decimates, how many hundreds of billions in savings interest is denied working folks, how high prices go on the things people actually need to buy, just so long as he can lie about banks being solvent and keep the wallets of the bankers and global elite inflated.
The Federal Reserve is not a governmental body and it does not have the people's interests at heart. It is a private banking cartel that has perpetrated the largest transfer of wealth from the bottom to the top in world history, and it should be disbanded immediately.
Ron Paul is great on so many issues ... and wacky on others.
He has advocated that the U.S. pull out of the WTO system, but then he wants to eliminate all tariffs?
He understands the commonsense aspects of Keynesian theory, but then he seems to be sticking with the wacky gold standard theories -- which are contradictory to the Constitution (clearly a monetarist document, except for the part about states minting coin). On other issues, Paul is solid on constitutional issues.
I just can't comprehend where Dr. Paul is coming from ... unless it's a bullish position in the gold market.
Never checked out Angry Bear before, headlining as 'slightly left of center'.
I suppose Angry Bear is okay giving a junk rating to what I suppose must be the 'slightly right of center' doctrine of the desirability of not raising the debt ceiling ... but I thought that was just common sense not even in need of much of an analysis.
But how is it that opposing E-verify is 'slightly left of center'?
It's like when Michael Collins says the only sure thing is that the Mayan calendar will run out in 2012.
The only meaning I can find for the term 'center' is where I stand, and E-verify is smack dab in the middle of me!
Since we have the First Amendment, guaranteeing independence of "the press," we traditionally think of "the press" as separate from "the government," but in fact "the press" is a multitude of governments. Use of the airwaves or of the internet or of the postal service or of public streets and highways -- these governmental functions are essential to the press and assure that concentrations of ownership of for-profit media will result in corruption of all governmental functions relating to operation of the press.
Any news or propaganda organization is a government interfacing with many other governments. It is best that concentrations of media power be broken up, although our current SCOTUS would almost certainly find that to be in violation of the First Amendment.
The prospect of Rupert Murdoch abandoning his British media interests became a real possibility last night as News Corp dropped plans to take control of BSkyB and it emerged that the media mogul has discussed selling his News International newspaper titles.
The decision to withdraw the £8bn bid for BSkyB came ahead of a House of Commons vote on a motion, backed by the leaders of all three main political parties, to block the News Corp deal. But even News Corp's current 39 per cent stake in the satellite broadcaster is now at risk from a "fit and proper" test being conducted by the media regulator, Ofcom.
Rupert on the run: News Corp's UK future in doubt as MPs turn on Murdoch
Also
Murdochs agree to give evidence
Breaking the FBI is opening an investigation.
Although the statements of the Fed Chair do move markets, including Gold. Well, QE3 automatically is buying up U.S. Treasuries, so it's an insane "trickle upon" idea in the first place, but does lower the dollar would should help with exports some, but all of this is unbelievably indirect.
I believe it also is to curtail deflation.
The all mighty Fed cannot enact real policy, such as slapping a tariff on Chinese goods for currency manipulation, or enacting laws to curtail offshore outsourcing and any such simply 1 page legislation items that are projected to have a big impact, a positive impact, on U.S. jobs...
So, I have a tendency to give the Fed a break on this "econommic stimulus", for I don't see the real tools being under their charter...i.e. monetary policy really. I mean you can inflate a housing bubble with it, affect credit with it, deal with international exchanges and on and on but you cannot, w/ surgical precision, stop corporations from offshore outsourcing jobs or investing in China instead of the U.S. That's Congress and this administration who are inept this time.
Very nice insight on the end game of labor arbitrage, Numerian, you wipe out financially, not just workers, but the entire economy and your corporate bottom line.
I think Tonelson (I don't know who was first) coined this as the great race to the bottom.
Bloomberg is reporting Bernanke clarified and said there won't be any QE3 "at this time", whatever that means. But he cited inflation as one reason. Ok, yesterday he testified things could change and the financial world went nuts over the idea of QE3.
Philosophy. He gets it right many times but he's operating under some strange philosophy. The gold standard, many believe, kept the system more stable.
Is there anyone out there makong rational long term forecasts of the housing market? Six month forecasts are like trying to predict the outcome of the football game in the first quarter based upon a 3 and out ball possession performance.
If the $8.5 billion were used to help Bank of America to maintain their housing stock in a safe and mortgagable condition, the value of those homes would increase. If they were maintained they could be sold to everyday americans. Right now these repos are being sold to investors for low low cash prices due to their neglected condition. This just forces the prices lower and lower. And the assets get even more toxic. Bank of America it is time for detox. The investors will benifit when the realestate market comes back.
I enjoyed the read and have passed it along to several friends and colleagues.
I work in a business built on labor arbitrage for higher income skills. Our off-shore labor rates are increasing as the maturity grows and the market gets saturated with more players with smaller margin expectations on their labor.
While I think that there is a little Doomsday prognosticating here, the facts of the current state are just that: facts. It is important for people to realize that China is having issues with their growth. And we are reaching (maybe at) the point where how goes China so goes the rest of the world. So it follows that if China makes policy or investment mistakes as they navigate the tricky waters of Communistic Capitalism, we will all suffer.
If gold is "just another commodity," why bother to scare the gold bugs? If he does a QE3, it should be targeted to reduce the absurd debt burden on the middle class. not to do favors for banks.
We're at a critical juncture in this affair with Rockefeller's comments. The 'big boys' are squaring off and it may be quite a fight, although Rockefeller is not quite the typical big boy. He humiliated the CEO of one of the big banks is a fashion that warmed my heart. His motivation isn't ours. He was astounded at how stupid the banker sounded, how indifferent to the people. Rockefeller knows you can't pick every apple in the orchard and take a hike.
The use of 9/11, however, is the key. In the AM talk circuit, which I saw for the first and last time ever today, they mentioned his criticism but nothing about 9/11. That was the whole purpose of the statement. But those who needed to hear it got an earful. Murdoch must be just appalled that he's getting this on his purported safe flank. Rockefeller's comment was like dropping a tactical nuke on News Corp USA. If that's where he's starting, Murdoch must be thinking, where will e go. Rupert, he'll drag you to Hell, drop you off, and have a nice car waiting to take him back. T
The British Civil War gave us the form of our Revolution which we implemented based on local conditions. Slavery ruined everything. It skewed voting. In addition, the notion of the people as a viable force was very clear to the Army at the Putney debates. They called for one legislative chamber, based on equally proportioned districts. We have a Senate, our Lords.
But the Civil War of Putney and Fairfax was a noble effort. Now we have the spontaneous noble effort of a people with enough basic moral strength to know when they've been affronted by Murdoch's crimes. It's Antigone. Murdoch is Creon (they're all Creon) committing the act that is an affront and insult to the common decency. Instead of Antigone, a heroic character from a rival clan aligned against Creon/Murdoch, we find the entire British public.
The power of these people and their fundamental code is so strong, even the pols paid off by Murdoch can't resist. That could be their gift to us, a clear model of what can be done when we unite. This isn't over yet but the first act has come to a close with Murdoch losing Cameron. What will he do without his political arm? He can't survive without regulatory favors (personal/business favors in the mask of governance). He can't attack specific groups or politicians. His dirty tricks are no longer effective. If he tries any of that in the UK, they'll file for his extradition.
Murdoch is a tyrant without power among those against whom he has used power with such cruel intent.
Could it be Satan?!?;)
Easy answer. Different countries, different laws. We're a "Lawless Nation."
Imagine that you and I start a business, bilk the customers, and fritter away almost all of the core assets. We have lunch and calmly decide that we're going to do. What else, since we're made men in the Money Party. We go to the Feds and get a $5.0 bil contract for something or other and we're whole again. Wd're special so we don't get arrested. They we spread around some joy at our good fortune and it starts all over again.
But as I point out, anything dealing with immigration, labor supply, controlling labor supply and so on, that's when things get weird and a lot of it has to do with people's philosophies.
Give me a break, e-verify is simply not a budget buster. Processing 20 million new people assuredly would be though.
But that was the claim, it would bust up the SS budget having to administer, but that's just not true, the pilot program is already in place and works fine.
That criminal's performance today only reinforced what so many people are now catching on to: There is no better pro jobs, pro growth, pro anything economic policy the United States can pursue that would be more effective than abolishing the Federal Reserve.
It is the very root cause of the boom/bust cycles, and the never ending bubble blowing that has resulted in the trillions of malinvestment that has gotten us into this mess.
And it digs us deeper and deeper with it's endless shell game to try and "extend and pretend" away the insolvency of the tbtf banks. To that end Bernanke doesn't care how many of the working poor he decimates, how many hundreds of billions in savings interest is denied working folks, how high prices go on the things people actually need to buy, just so long as he can lie about banks being solvent and keep the wallets of the bankers and global elite inflated.
The Federal Reserve is not a governmental body and it does not have the people's interests at heart. It is a private banking cartel that has perpetrated the largest transfer of wealth from the bottom to the top in world history, and it should be disbanded immediately.
I mean exploding and now it's hitting the U.S.
Great video! Well done, to the point.
Ron Paul is great on so many issues ... and wacky on others.
He has advocated that the U.S. pull out of the WTO system, but then he wants to eliminate all tariffs?
He understands the commonsense aspects of Keynesian theory, but then he seems to be sticking with the wacky gold standard theories -- which are contradictory to the Constitution (clearly a monetarist document, except for the part about states minting coin). On other issues, Paul is solid on constitutional issues.
I just can't comprehend where Dr. Paul is coming from ... unless it's a bullish position in the gold market.
Do some idols have feet of gold?
Never checked out Angry Bear before, headlining as 'slightly left of center'.
I suppose Angry Bear is okay giving a junk rating to what I suppose must be the 'slightly right of center' doctrine of the desirability of not raising the debt ceiling ... but I thought that was just common sense not even in need of much of an analysis.
But how is it that opposing E-verify is 'slightly left of center'?
It's like when Michael Collins says the only sure thing is that the Mayan calendar will run out in 2012.
The only meaning I can find for the term 'center' is where I stand, and E-verify is smack dab in the middle of me!
Since we have the First Amendment, guaranteeing independence of "the press," we traditionally think of "the press" as separate from "the government," but in fact "the press" is a multitude of governments. Use of the airwaves or of the internet or of the postal service or of public streets and highways -- these governmental functions are essential to the press and assure that concentrations of ownership of for-profit media will result in corruption of all governmental functions relating to operation of the press.
Any news or propaganda organization is a government interfacing with many other governments. It is best that concentrations of media power be broken up, although our current SCOTUS would almost certainly find that to be in violation of the First Amendment.
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