Monthly Archives: December 2013

With Affordable Care Act, Canceled Policies for New York Professionals

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“Many in New York’s professional and cultural elite have long supported President Obama’s health care plan. But now, to their surprise, thousands of writers, opera singers, music teachers, photographers, doctors, lawyers and others are learning that their health insurance plans are being canceled and they may have to pay more to get comparable coverage, if they can find it.  Some have received notices already; others, whose plans have not yet expired, will soon receive letters in the mail. It is unclear exactly how many New Yorkers are affected; according to state health officials, as many as 400,000 independent practitioners get health insurance through job-related group plans.”

http://www.nytimes.com/2013/12/14/nyregion/with-affordable-care-act-canceled-policies-for-new-york-professionals.html?pagewanted=all

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Dirty Jobs’ Mike Rowe on the High Cost of College (Full Interview)

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“‘If we are lending money that ostensibly we don’t have to kids who have no hope of making it back in order to train them for jobs that clearly don’t exist, I might suggest that we’ve gone around the bend a little bit,’ says TV personality Mike Rowe, best known as the longtime host of Discovery Channel’s Dirty Jobs.  He stesses that he’s ‘got nothing against college’ but believes it’s a huge mistake to push everyone in the same direction regardless of interest or ability. Between Mike Rowe Foundation and Profoundly Disconnected, a venture with heavy equipment manufacturer Caterpillar, Rowe is hoping both to help people find new careers and publicize what he calls ‘the diploma dilemma.'”

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Stockman: GOP made budget deal a ‘joke and betrayal’

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“Stockman added that the budget deal means lawmakers would take a ‘two-year vacation’ from dealing with the country’s fiscal situation and revisit it in 2015 at around the same time as the Iowa straw polls. Without an incumbent in the presidential race, both political parties will be too busy to touch the budget, he said.  Stockman compared the accord to ‘kicking the can’ into ‘low Earth orbit.’  The two-year deal averts deeper cuts to military spending, but Stockman said that’s where lawmakers should have looked for savings. The U.S. no longer faces threats from developed countries and has been ‘fired as the world’s policemen,’ he said.”

http://www.cnbc.com/id/101265477

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The Biggest Interest-Rate Turn in 37 Years

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“We witnessed the power of bond market vigilantes in 1980, at a time when most of them were in the United States. Now it’s much worse because so many are overseas.  We witnessed their power again in 1994, at a time when there was virtually no inflation scare. Now, it’s worse because all the Fed’s money printing is spooking investors about future inflation.  We also saw their power repeatedly in 2011 and 2012, when they dumped the bonds of Greece, Spain and Italy. Now it’s worse because, unlike the situation in Europe, there’s no country or union in the world big enough to bail out America.  In one sense, nothing has changed since Carter’s day of reckoning on April 15, 1980.”

http://www.moneyandmarkets.com/the-biggest-interest-rate-turn-in-37-years-56969

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Money for Nothing: Inside the Federal Reserve (2013)

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“Nearly 100 years after its creation, the power of the U.S. Federal Reserve has never been greater. Markets and governments around the world hold their breath in anticipation of the Fed Chairman’s every word. Yet the average person knows very little about the most powerful – and least understood – financial institution on earth. Money For Nothing is the first film to take viewers inside the Fed and reveal the impact of Fed policies – past, present, and future – on our lives. Join current and former Fed officials as they debate the critics, and each other, about the decisions that helped lead the global financial system to the brink of collapse in 2008. And why we might be headed there again.”

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Swedish Company Sold $28 Million-Worth Of Its New Bitcoin Miner

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“We recently reported that Knc Miner, a Swedish developer of Bitcoin miners, had sold $8 million of its latest model, the Neptune, in 24 hours. When it drops in early 2014 (the date remains a bit amorphous), the Neptune could be the most powerful and efficient miner in the world, depending on what the competition looks like at that time (it’s impossible to say how many Bitcoins it can mine because the mining difficulty rate, which goes upward as more Bitcoins are mined, will have changed when it’s released).  Today, we got new figures on Neptune sales.”

http://www.businessinsider.com/knc-sells-nearly-28-million-neptunes-2013-12

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Vegas developer selling $7.85M mansion for bitcoin

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“A casino owner-turned-commercial developer is asking $7.85 million to sell a Las Vegas home, and he’s willing to accept the online currency bitcoin for the deal.  Jack Sommer said he got the idea to seek bitcoin for his 25,000-square-foot mansion from two of his sons, who’ve been involved in making and trading the currency.  It features marble from China, Iceland and Brazil, a full basement, staff quarters with Jacuzzis, and a secret garden. It also has 39 air-conditioning zones fed from a 120-ton cooling tower.  Sommer once owned the Aladdin resort, which is now the Planet Hollywood Resort on the Las Vegas Strip.”

http://www.foxnews.com/us/2013/12/14/vegas-developer-selling-785m-mansion-for-bitcoin/

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Bitcoins accepted at Birmingham, AL grocery store

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“It’s official: you can now use bitcoins to buy groceries in Birmingham.  Jen Barnett, co-owner of Freshfully in Birmingham’s Avondale neighborhood, recently integrated the bitcoin payment system into her grocery store’s processing set-up. Customers with bitcoins can now buy local Alabama tomatoes, for example, with the internet’s hottest new currency.  Barnett answered a few questions about her experiences with incorporating the internet’s newest payment tech into her own small business.”

http://www.al.com/business/index.ssf/2013/12/bitcoins_in_birmingham_freshfu.html

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Bitcoin store opens in Calgary

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“A Calgary company has opened a store in trendy Kensington devoted to bitcoins, a much hyped form of digital cash that some say is headed for the mainstream.”

http://www.calgaryherald.com/news/Bitcoin+store+opens+Calgary/9261718/story.html

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Max Keiser Breaks Down Bitcoin

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“Alex and Max Keiser continue on the topic of rigged global markets and fiat currency vs bitcoin.”

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