You all might want to look over this CFTC proposal on a 15 minute delay on block derivative trades and post a comment.
I looked at it, thinking that's kind of strange on doing a delay of block trades on derivatives but didn't dig around enough to understand what the purpose is.
What's amazing to me is how this report, beyond some 18 minutes of packet capture and then a flurry of denials on those numbers quoted, is how few reporters or anyone actually reads this information and reports on it. This commission has given dire warnings on China for some time now and it falls on deaf ears. Read the debt holdings section and be very afraid.
Yes, I think it is about time that Americans and the the American government realize just exactly what is happening in China. We need to make sure that they will no longer have this ability in the future.
"the government will take from each according to his ability to pay and give to each according to his neediness.".... this is out of date and not an obtainable goal given the nature of man. Now George Bush accurately described our economics, saying "I've suspended the free market system to save the free market system", and at the same time confirming to us "the pillars of our economy are strong". Freudian slip I guess? What are the family names of those pillars?
Firstly, consider registering and logging in, for that way you can track your replies in the workspace area (a host of features pop up for registered users) and I can see who is asking what. Plus you bypass all of the security and can just write comments once logged in.
ok, I don't think current capital gains is justified and it's clear, from the "dot con" bubble that the Clinton era capital gains didn't hurt the stock market at all.
I think they do need a wall street transaction tax, esp. for automated, flash trades. The stock market seems to be turned into such a rigged system, those who have super computers, can manipulate delay and information streams, automate, are the ones making money. The thing was supposed to be about investments, not beating the number of hops in a network or seeing who can write the coolest, fastest mathematical predictors and it especially wasn't supposed to be for flipping derivatives in a nanosecond.
That said, I think they should create some sort of outrageous money maker tax haven/tax holiday for investment in the production economy. Tie it to new business creation and especially tie it to providing jobs for U.S. citizens. I mean make the pay out "too good to pass up" level of holiday where if an investor takes the risk and builds a real company, hiring real Americans, making real products, they win to the point of major wealth. I think the idea of a tax write off 100% for investments of this type is worth it, but also if that investment generates say $3 million in revenues in 5 years....all of those profits are given a 10 year tax holiday. Or say such a business manages to keep new hires > 50 who are U.S. citizens, perm residents employed at market value or better salaries for 5 years, then that company gets a tax holiday for 10 years, or something along these lines.
Need a tax expert to craft the details but the point is to make it ridiculously profitable to employ Americans and create production type jobs in the United States. Include services too, but they must hire only Americans to get these tax breaks and if they fail, ALL tax breaks, from local to state to Federal are revoked and that business MUST pay back taxes.
That's another issue, IBM and many companies get tax breaks on the promise of creating jobs by state and local governments. IBM then offshore outsources the jobs instead....yet they still keep the tax breaks.
What's wrong with that picture? They violated their promise, they should be nailed!
I mean put it over the top to get investors to build plants, hire Americans in this country. Make it too good to be true and so they will stop borrowing cheap money in the U.S. and investing overseas, or plain sitting on it.
Is Buffet a dealer in stocks and bonds? I doubt it or he wouldn't be suggesting that he pays such little tax.
I have little problem with a small transaction tax on exchange purchases of stocks. I'm surprised that there is not already such an animal used to fund a more robust regulatory sector, SEC, FTC, Comptroller of the Currency, DOJ antitrust, etc.
I wish you would have answered my question, though. Do you believe there's economic justification for the low capital gains tax rate or is it just a way for the rich to get richer? If the former then forming more capital seems to be a good thing. It would lower the price of new capital on the market (this might compete with Buffet's capital though so he might not like it.)
Your point about athletes not employing people is accurate on its face but not really accurate at a deeper level because those guys use intermediaries to invest their excess money, their capital. They use banks, brokerage firms and venture capital scouts, among others, to get their money out there. Even if they just spend it they're paying people in the businesses which they patronize, hence jobs.
If, as you suggest, we wish to be in the business of approving the uses to which people put their money, then consumption based taxes are the thing. They discourage consumption and encourage savings and investment among even those with the lowest incomes because they're getting "a deal." Unfortunately, there would be serious dislocations created in our economy by this change since the 70% of the economy currently devoted to consumption would shrink. Real people would lose their jobs in some of those consumption-based businesses. On the other hand, the more capital is created, the more efficient our industries will likely become, the higher the salaries will be for the people with good jobs and in the long run an even higher standard of living for everybody would be achieved even though the percentage of GDP devoted to consumption would actually fall. (Of course, in the long run we're all dead.)
Why don't the out of work engineers approach LeBron James or Dwayne Wade to see about venture capital? They'll have to have an idea though, not just be out of work. Check out MIT Professor Nocera's progress in using solar power and a catalyst to break down tap water into it's constituent gases. Even out of work engineers might be able to find uses for abundant and cheap hydrogen and oxygen.
Is the name of the speechmaking 'dark times ahead' president, Glenn Beck? Run for the hills, buy food and gold and bullets!!! The sky is falling, the sky is falling!!
I suppose that the not so subtle difference between the two doomsayers is that Glenn says, "hope for the best and prepare yourselves and your families for the worst" and this sober and "grown up" president says about the coming dark days, "the government will take from each according to his ability to pay and give to each according to his neediness."
I wonder which formula works better?
The government and the Congress if they pass this should expect a very large and well armed insurgency against them. This would be a criminal act by the government, one of a continuous string, and would have at least this individual armed and hunting and not Deer hunting.
While the companies are not threatening to leave at this stage, the statement – signed by senior Irish executives from each of the four companies mentioned – does directly point out that although Ireland's tax rate may be low in European terms, it is not when compared with locations such as Singapore, India and China.
see: Will Google (And MSFT, And HP, And BAC) Be The Biggest Loser From The Irish Bailout?
Ireland has an extremely generous corporate tax code. Greedy multi-nationals can't resist squeezing more profits and so move jobs from U.S. to Ireland, leaving even more Americans unemployed. Yes, this is offshore outsourcing - not to India - but to Ireland.
But Ireland runs a deficit of 32% of its GDP. i.e., while it cut corporate taxes, it didn't make commensurate cuts in spending (sounds familiar, doesn't it?).
In return for bailouts from governments (taxpayers) around the world, Ireland promises to cut its deficits. But the wealthy multi-nationals corporations won't bear the burden. No, the average worker, who can least afford it, will.
Multi-national corporations such as Microsoft, Intel, HP, and Bank of America are once again threatening to offshore jobs to India unless they get their way. But this time they are threatening Ireland, not the U.S.
or come up with tax policy based on even CBO or expert recommendations. No way can they do anything but try to attack what is left of U.S. social safety nets.
I've been reading some fairly innovative analysis papers on streamlining government, so you can slash, yet not affect services, social security, medical. I think we need to write up overviews on some of these papers because these experts never get even a mention in most of the press, never mind on cable noise.
Good to see some MSM calling out the idiocy of D.C.
I didn't bother to play the food stamp video, currently making the rounds, for we've shown many times those same maps, with percentages. But I finally watched it and realized it had gallows humor mixed in, which makes the facts much more damning.
So, this week's collection of funnies was updated.
So, even though you're up on your food stamp data (usually hidden by a new term SNAP, to avoid the fact people are desperate to eat), you might watch this for the dark humor and commentary.
Also, Stephen Colbert was on an economic roll this week, he hit a host of economic funnies, so why he dominates this week's round up.
Yet more clues of China's currency manipulation, the Taiwan dollar appreciated twice as fast to the Yuan. Investors are saying the Taiwan dollar is a proxy for how fast the Yuan should rise. Bear in mind as a placatory gesture to try to reduce international pressure, China recently repegged the Yuan at a 2.3% appreciation to the dollar exchange rate.
Here is a link for an article for the Container shortage http://www.americanshipper.com/NewWeb/News/american-shipper-magazine/oce...
I am in the storage container business and the market is a mess right now because of the shortage, I've talked to veterans of the industry and they've never seen the market this bad in their 30 years in the industry. The global shipping container utilization rate is almost 99% when typically it is near 92%. There are lots of factors for this but the main issue is labor in the Chinese Shipping container factories.
The main reason are regulations there, because someone scammed the system. Too much proper regulations are not the problem. Managers of Hedge Fund are cunning persons which are expected to be on the arrogant side. Their calculated status as the ultimate insider carries into question the plan that the majority of us has an occasion of making money off investments.
That data is not available by the BLS and i went off of one data point they gave. A private "for pay" data tracking firm has the numbers but I don't have a subscription, i.e. spendy for large think tanks, gov. agencies.
I appreciate all your efforts putting this information together, but your graph seems a little out of step. How can there be more people about to lose benefits in Wyoming than in NJ. Is there a chance that graph could be tightened up to reflect the true nature of each state?
Thanks again for efforts to keep the unemployed in your excellent economic postings.
You all might want to look over this CFTC proposal on a 15 minute delay on block derivative trades and post a comment.
I looked at it, thinking that's kind of strange on doing a delay of block trades on derivatives but didn't dig around enough to understand what the purpose is.
What's amazing to me is how this report, beyond some 18 minutes of packet capture and then a flurry of denials on those numbers quoted, is how few reporters or anyone actually reads this information and reports on it. This commission has given dire warnings on China for some time now and it falls on deaf ears. Read the debt holdings section and be very afraid.
Yes, I think it is about time that Americans and the the American government realize just exactly what is happening in China. We need to make sure that they will no longer have this ability in the future.
"the government will take from each according to his ability to pay and give to each according to his neediness.".... this is out of date and not an obtainable goal given the nature of man. Now George Bush accurately described our economics, saying "I've suspended the free market system to save the free market system", and at the same time confirming to us "the pillars of our economy are strong". Freudian slip I guess? What are the family names of those pillars?
Three hedge funds WSJ.
The problem is these aren't very big, so great they are doing something about insider trading...
But seems like some raw meat being thrown instead of dealing with the systemic problems.
Zero Hedge has up the actual holdings. A lot of tech.
Firstly, consider registering and logging in, for that way you can track your replies in the workspace area (a host of features pop up for registered users) and I can see who is asking what. Plus you bypass all of the security and can just write comments once logged in.
ok, I don't think current capital gains is justified and it's clear, from the "dot con" bubble that the Clinton era capital gains didn't hurt the stock market at all.
I think they do need a wall street transaction tax, esp. for automated, flash trades. The stock market seems to be turned into such a rigged system, those who have super computers, can manipulate delay and information streams, automate, are the ones making money. The thing was supposed to be about investments, not beating the number of hops in a network or seeing who can write the coolest, fastest mathematical predictors and it especially wasn't supposed to be for flipping derivatives in a nanosecond.
That said, I think they should create some sort of outrageous money maker tax haven/tax holiday for investment in the production economy. Tie it to new business creation and especially tie it to providing jobs for U.S. citizens. I mean make the pay out "too good to pass up" level of holiday where if an investor takes the risk and builds a real company, hiring real Americans, making real products, they win to the point of major wealth. I think the idea of a tax write off 100% for investments of this type is worth it, but also if that investment generates say $3 million in revenues in 5 years....all of those profits are given a 10 year tax holiday. Or say such a business manages to keep new hires > 50 who are U.S. citizens, perm residents employed at market value or better salaries for 5 years, then that company gets a tax holiday for 10 years, or something along these lines.
Need a tax expert to craft the details but the point is to make it ridiculously profitable to employ Americans and create production type jobs in the United States. Include services too, but they must hire only Americans to get these tax breaks and if they fail, ALL tax breaks, from local to state to Federal are revoked and that business MUST pay back taxes.
That's another issue, IBM and many companies get tax breaks on the promise of creating jobs by state and local governments. IBM then offshore outsources the jobs instead....yet they still keep the tax breaks.
What's wrong with that picture? They violated their promise, they should be nailed!
I mean put it over the top to get investors to build plants, hire Americans in this country. Make it too good to be true and so they will stop borrowing cheap money in the U.S. and investing overseas, or plain sitting on it.
Is Buffet a dealer in stocks and bonds? I doubt it or he wouldn't be suggesting that he pays such little tax.
I have little problem with a small transaction tax on exchange purchases of stocks. I'm surprised that there is not already such an animal used to fund a more robust regulatory sector, SEC, FTC, Comptroller of the Currency, DOJ antitrust, etc.
I wish you would have answered my question, though. Do you believe there's economic justification for the low capital gains tax rate or is it just a way for the rich to get richer? If the former then forming more capital seems to be a good thing. It would lower the price of new capital on the market (this might compete with Buffet's capital though so he might not like it.)
Your point about athletes not employing people is accurate on its face but not really accurate at a deeper level because those guys use intermediaries to invest their excess money, their capital. They use banks, brokerage firms and venture capital scouts, among others, to get their money out there. Even if they just spend it they're paying people in the businesses which they patronize, hence jobs.
If, as you suggest, we wish to be in the business of approving the uses to which people put their money, then consumption based taxes are the thing. They discourage consumption and encourage savings and investment among even those with the lowest incomes because they're getting "a deal." Unfortunately, there would be serious dislocations created in our economy by this change since the 70% of the economy currently devoted to consumption would shrink. Real people would lose their jobs in some of those consumption-based businesses. On the other hand, the more capital is created, the more efficient our industries will likely become, the higher the salaries will be for the people with good jobs and in the long run an even higher standard of living for everybody would be achieved even though the percentage of GDP devoted to consumption would actually fall. (Of course, in the long run we're all dead.)
Why don't the out of work engineers approach LeBron James or Dwayne Wade to see about venture capital? They'll have to have an idea though, not just be out of work. Check out MIT Professor Nocera's progress in using solar power and a catalyst to break down tap water into it's constituent gases. Even out of work engineers might be able to find uses for abundant and cheap hydrogen and oxygen.
Is the name of the speechmaking 'dark times ahead' president, Glenn Beck? Run for the hills, buy food and gold and bullets!!! The sky is falling, the sky is falling!!
I suppose that the not so subtle difference between the two doomsayers is that Glenn says, "hope for the best and prepare yourselves and your families for the worst" and this sober and "grown up" president says about the coming dark days, "the government will take from each according to his ability to pay and give to each according to his neediness."
I wonder which formula works better?
The government and the Congress if they pass this should expect a very large and well armed insurgency against them. This would be a criminal act by the government, one of a continuous string, and would have at least this individual armed and hunting and not Deer hunting.
Sic Semper Tyrannis!
While the companies are not threatening to leave at this stage, the statement – signed by senior Irish executives from each of the four companies mentioned – does directly point out that although Ireland's tax rate may be low in European terms, it is not when compared with locations such as Singapore, India and China.
see: Will Google (And MSFT, And HP, And BAC) Be The Biggest Loser From The Irish Bailout?
Ireland has an extremely generous corporate tax code. Greedy multi-nationals can't resist squeezing more profits and so move jobs from U.S. to Ireland, leaving even more Americans unemployed. Yes, this is offshore outsourcing - not to India - but to Ireland.
But Ireland runs a deficit of 32% of its GDP. i.e., while it cut corporate taxes, it didn't make commensurate cuts in spending (sounds familiar, doesn't it?).
In return for bailouts from governments (taxpayers) around the world, Ireland promises to cut its deficits. But the wealthy multi-nationals corporations won't bear the burden. No, the average worker, who can least afford it, will.
Multi-national corporations such as Microsoft, Intel, HP, and Bank of America are once again threatening to offshore jobs to India unless they get their way. But this time they are threatening Ireland, not the U.S.
or come up with tax policy based on even CBO or expert recommendations. No way can they do anything but try to attack what is left of U.S. social safety nets.
I've been reading some fairly innovative analysis papers on streamlining government, so you can slash, yet not affect services, social security, medical. I think we need to write up overviews on some of these papers because these experts never get even a mention in most of the press, never mind on cable noise.
Good to see some MSM calling out the idiocy of D.C.
I didn't bother to play the food stamp video, currently making the rounds, for we've shown many times those same maps, with percentages. But I finally watched it and realized it had gallows humor mixed in, which makes the facts much more damning.
So, this week's collection of funnies was updated.
So, even though you're up on your food stamp data (usually hidden by a new term SNAP, to avoid the fact people are desperate to eat), you might watch this for the dark humor and commentary.
Also, Stephen Colbert was on an economic roll this week, he hit a host of economic funnies, so why he dominates this week's round up.
tax rich people says Buffet.
Yet more clues of China's currency manipulation, the Taiwan dollar appreciated twice as fast to the Yuan. Investors are saying the Taiwan dollar is a proxy for how fast the Yuan should rise. Bear in mind as a placatory gesture to try to reduce international pressure, China recently repegged the Yuan at a 2.3% appreciation to the dollar exchange rate.
Here is a link for an article for the Container shortage http://www.americanshipper.com/NewWeb/News/american-shipper-magazine/oce...
I am in the storage container business and the market is a mess right now because of the shortage, I've talked to veterans of the industry and they've never seen the market this bad in their 30 years in the industry. The global shipping container utilization rate is almost 99% when typically it is near 92%. There are lots of factors for this but the main issue is labor in the Chinese Shipping container factories.
--Keith
The main reason are regulations there, because someone scammed the system. Too much proper regulations are not the problem. Managers of Hedge Fund are cunning persons which are expected to be on the arrogant side. Their calculated status as the ultimate insider carries into question the plan that the majority of us has an occasion of making money off investments.
Ellis Davis
Sorry about that, I didn't realize the graph was so unclear. I redid it to show every state and also put the BLS estimates by the bars in the graph.
You are right, Wyoming is ony 1400, it's just the graph wasn't clear to read.
The way these guys interpret capitalism, we're headed for
Kropotkin.
That data is not available by the BLS and i went off of one data point they gave. A private "for pay" data tracking firm has the numbers but I don't have a subscription, i.e. spendy for large think tanks, gov. agencies.
Something might have gone out of alignment.
I appreciate all your efforts putting this information together, but your graph seems a little out of step. How can there be more people about to lose benefits in Wyoming than in NJ. Is there a chance that graph could be tightened up to reflect the true nature of each state?
Thanks again for efforts to keep the unemployed in your excellent economic postings.
Pages