Monthly Archives: March 2013

Bernanke’s Subsidies: Houses and Cars

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“What happens when the Federal Reserve promises to create $1 trillion in fiat money per year, and then starts by buying long-term Treasury bonds and Fannie/Freddie bonds?  Interest rates go up.  Wait a minute. Weren’t interest rates supposed to go down? Yes, they were. That is what Keynesian economics teaches. Problem: Keynesian economics is wrong.  But Bernanke and the FED will move forward, inflating on a scale undreamed of prior to 2008. That is the only trick it has up its collective sleeve. ‘When in doubt, inflate.’  That is alpha and omega. That is the law and the prophets.  Lock in that mortgage rate.”

http://teapartyeconomist.com/2013/02/25/bernankes-subsidies-houses-and-cars/

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85% Hike in Long-Term Care Insurance Premiums

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“So, you think you are going to have long-term care if you need it.  You have paid premiums for years.  The joke’s on you!  The company can get you off its books easily. It just doubles the premium. You go away. Tough luck, sucker!”

http://teapartyeconomist.com/2013/02/26/85-hike-in-long-term-care-insurance-premiums/

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Montana House Votes 97-1 to approve anti-NDAA bill

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“In a huge win for the Bill of Rights, the Montana House of Representatives overwhelmingly approved a bill to ban indefinite detention in Montana by a vote of 97 to 1. Introduced by state Rep. Nicholas Schwaderer, HB 522 would also ‘prohibit state cooperation with federal officials’ who try to enforce the National Defense Authorization Act (NDAA).  The lone no vote was cast by Democrat Bob Mehlhoff.  HB 522 previously passed the House Judiciary Committeeunanimously.  The bill now heads to the state senate for approval.”

http://www.constitutioncampaign.org/blog/?p=12261

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Louisiana Health Dept.: Homeless Can’t Eat Deer Meat

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“Hunters across Louisiana are outraged after state health officials ordered a rescue mission to destroy $8,000 worth of deer meat because venison is not allowed to be served in homeless shelters.  The Dept. of Health and Hospitals ordered the staff at the Shreveport-Bossier Rescue Mission to throw 1,600 pounds of donated venison in garbage bins – and then ordered then to douse the meat with Clorox – so other animals would not eat the meat.”

http://radio.foxnews.com/toddstarnes/top-stories/health-dept-homeless-cant-eat-deer-meat.html

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Obamacare tax on unearned income cannot be offset by foreign tax credits

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220px-GenIsaacBrock1

“I am getting more and more confirmation from unrelated sources that the Obama 3.8% tax on unearned income cannot be offset by the Foreign Tax Credits of U.S. citizens abroad. To put it simply:  U.S. citizens abroad, who via taxation in their country of residence, pay for health care in their  country of residence, are now required to pay for health care for  U.S.  residents. Oh well: I guess that’s consistent with the definition of citizenship that Obama gave in his State of the Union address.  U.S. citizens abroad must accept their obligations to those remaining inside the U.S.”

http://isaacbrocksociety.ca/2013/02/28/obamacare-tax-on-unearned-income-cannot-be-offset-by-foreign-tax-credits/

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Japan seen nominating “deflation basher” as BOJ head

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“Japan’s prime minister is likely to nominate an advocate of aggressive monetary easing – Asian Development Bank President Haruhiko Kuroda – as the next central bank governor to step up his fight to finally rid the country of deflation.  The yen fell on the nomination news to a 33-month low and the yield on five-year government bonds hit a record low as markets moved to factor in bolder monetary policy.  Kuroda has long criticized the BOJ as too slow to expand stimulus, and is expected to push for more radical efforts to achieve a 2 percent inflation target set in January.”

http://www.reuters.com/article/2013/02/25/us-japan-economy-boj-nikkei-idUSBRE91N0DD20130225

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Upcoming European Financial Trading Tax: “All Markets, All Actors, All Products”

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“The tax would be owed no matter where the trade took place, as long as a European security or European institution was involved. If a French bank bought shares in an American company on the New York Stock Exchange, the tax would be owed.  To get out of the tax, a financial institution would have to do more than simply move its headquarters out of the 11 countries that now plan to impose the tax. It would also have to forgo serving clients in any of those countries and trading in securities or derivatives from any of the countries. Officials are confident that no major institution will be willing to forsake such large markets as France, Germany, Italy and Spain.”

http://www.nytimes.com/2013/02/22/business/a-tax-that-could-change-the-trading-game.html?pagewanted=1&_r=1&smid=tw-share&pagewanted=all

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Jeffrey Tucker: Top Alternatives to Paper Money

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“I’ve just left the Liberty Forum in New Hampshire as the proud owner of three types of nonpaper, nongovernmental monies. They operate in competition with the government’s dollar. Yes, these include Bitcoin, the mind-blowing digital currency that has techno-geeks, edgy global traders, and even the World Bank buzzing about its potential to finally separate money from the state.  Why are people working on alternative forms of money? It’s all about escaping a 100-year-old trend.  Depression, war, and deliberate debasement have left us with a dollar that is a mere shadow of its former self.”

http://libertycrier.com/government/jeffrey-tucker-top-alternatives-to-paper-money/

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Need Bitcoins? This ATM takes dollars and funds your account

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“Zach Harvey has an ambitious plan to accelerate adoption of the Internet’s favorite alternative currency: installing in thousands of bars, restaurants, and grocery stores ATMs that will let you buy Bitcoins anonymously.  It’s the opposite of a traditional automated teller that dispenses currency. Instead, these Bitcoin ATMs will accept dollar bills — using the same validation mechanism as vending machines — and instantly convert the amount to Bitcoins and deposit the result in your account.”

http://news.cnet.com/8301-13578_3-57570925-38/need-bitcoins-this-atm-takes-dollars-and-funds-your-account/

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US Congressmen Reintroduce Online Sales Tax Bill

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“A bipartisan group of 53 Democrat and Republican lawmakers have re-introduced a bill – the Marketplace Fairness Act of 2013 – in both the United States Senate and House of Representatives, which would require online retailers to collect sales tax for state and local governments, even though they lack a physical presence in the state.  State and local governments are said to view the taxes they cannot collect on most online sales as lost revenue. It is estimated that the ‘loophole’ costs state and local governments an estimated USD23bn in lost tax revenue each year, with California alone facing around USD1.9bn in uncollected sales taxes.”

http://www.tax-news.com/news/US_Congressmen_Reintroduce_Online_Sales_Tax_Bill____59812.html

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