Tag Archives: Middle Class Dismissed

Russia takes aim at McDonald’s burgers as U.S. ties worsen

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“McDonald’s burgers and shakes may become the latest victims of worsening ties between Moscow and Washington after a Russian consumer watchdog agency accused the U.S. chain of sanitary violations.  McDonald’s Corp , which opened its first Russian restaurant in Moscow in 1990, became an iconic symbol of flourishing American capitalism during the fall of the Soviet Union.  But its Golden Arches may be in the Kremlin’s crosshairs as ties between Moscow and Washington have fallen to their lowest point since the end of the Cold War with consecutive rounds of U.S. sanctions over Russia’s role in the Ukraine crisis.”

http://finance.yahoo.com/news/russian-consumer-watchdog-seeks-ban-mcdonalds-products-090124454–sector.html

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California Mileage Tax Would Charge Drivers Based on Distance Driven

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“A new bill going through Sacramento would tax drivers for every mile they are on the road.  State transit officials note that there’s not nearly enough money available to fix the many bridges and roads in California that are in desperate need of repair.  A federal highway fund, based on taxes on fuel, is expected to run dry this summer.  Under SB 1077, introduced by DeSaulnier, a still-to-be-determined California city would begin taxing motorists in January 2016. The longer your commute, the more you would pay.  That may yet be a tough sell, but a $0.05 per mile fee could raise over $100 billion for roads in some parts of the state.”

http://www.nbclosangeles.com/news/local/California-Mileage-Tax-Would-Charge-Drivers-Based-on-Distance-Driven-258170311.html

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S.C. mom jailed, facing prison for letting daughter play alone in park

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“Plenty of working parents can relate to the dilemma Debra Harrell faced when her 9-year-old daughter asked to play unsupervised in a park this summer. How do you find the time and money for child care when school is out?   Harrell’s answer to that question got her arrested. She spent 17 days in jail, temporarily lost custody of her girl, thought she lost her job, and still faces 10 years in prison if convicted of felony child neglect.  South Carolina criminalizes leaving a child at ‘unreasonable risk of harm affecting the child’s life, physical or mental health, or safety.’ But the law offers no specifics on when a child can be left alone without supervision, giving police and prosecutors wide discretion.”

http://www.cbsnews.com/news/south-carolina-moms-arrest-over-daughter-alone-in-park-sparks-debate/

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A Fish Story

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“What do the former employees of Enron and I have in common? According to the Department of Justice, we’re both guilty of the same crime. They spent their nights purging documents in order to hide massive financial fraud. I was accused of disposing of several purportedly undersized red grouper into the Florida surf from which I caught them.  Nearly three years later, the federal government charged me with the destruction of evidence—yes, fish—to impede a federal investigation. I was subsequently arrested at my home. I have been blacklisted by boat owners who fear federal investigations similar to mine. I am now unable to make a living doing what I love to do.”

http://www.politico.com/magazine/story/2014/04/a-fish-story-106010.html

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We’re All Criminals and Outlaws in the Eyes of the American Police State

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“As with most things, if you want to know the real motives behind any government program, follow the money trail. When you dig down far enough, as I document in my book A Government of Wolves: The Emerging American Police State, you quickly find that those who profit from Americans being arrested are none other than the police who arrest them, the courts which try them, the prisons which incarcerate them, and the corporations, which manufacture the weapons and equipment used by police, build and run the prisons, and profit from the cheap prison labor.”

https://www.rutherford.org/publications_resources/john_whiteheads_commentary/were_all_criminals_and_outlaws_in_the_eyes_of_the_american_police_state

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Marc Faber on Commodity Cycles and the Wealth Redistribution Craze

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“We have a two-tier economy. We have an economy of well-to-do people from which I have benefited because I’m in the financial sector. My asset value has gone up, I benefit from rising asset prices because I own shares and I’m on the board of companies that own shares, fund management companies and so forth, but I’m not happy about the fact that the typical household and the working class worldwide is not doing well. And what will eventually happen and has begun to happen when you have rising wealth inequality, eventually you have politicians that will not assume personal responsibility for the rising wealth inequality that is largely fostered by monetary policies by central banks.”

http://www.thedailybell.com/exclusive-interviews/35527/Anthony-Wile-Marc-Faber-on-Commodity-Cycles-Monopoly-Central-Banking-and-the-Wealth-Redistribution-Craze/

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The 20 hottest real estate spots in the world

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“It’s safe to say we’re in the midst of a global real estate bull market. According to the Knight Frank Global House Price Index, the value of homes internationally rose by 8.4 percent in 2013, representing the highest annual increase since 1995.  Although it’s a global phenomenon, US buyers — especially New Yorkers — are particularly active abroad.  While much of this money is pouring into established urban centers, experts describe Americans as more entrepreneurial about snapping up property — willing to invest in everything from a private island in Antigua to vast farms in Zambia if the price (and property) is right.”

http://nypost.com/2014/04/08/the-20-hottest-real-estate-spots-in-the-world/

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Seth Klarman On “Born Bulls”, Bitcoin, & “The Truman Show” Market

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“Robert Schiller’s cyclically adjusted P/E valuation is over 25, a level exceeded only three times before – prior to the 1929, 2000 and 2007 market crashes.  Even with the ranks of the unemployed and underemployed still bloated and the economy barely improved from a year ago, the S&P 500, Dow Jones Industrial Average, and Russell 2000 regularly posted new record highs.  Our assessment is that the Fed’s continuing stimulus and suppression of volatility has triggered a resurgence of speculative froth. Margin debt measured as a percentage of GDP recently neared an all-time high. IPO activity in 2013 was greater than it has been in years, approaching 2007’s record of 288 transactions.”

http://www.zerohedge.com/news/2014-03-08/seth-klarman-born-bulls-bitcoin-truman-show-market

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Study: 35 percent in U.S. facing debt collectors

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“The study found that 35.1 percent of people with credit records had been reported to collections for debt that averaged $5,178, based on September 2013 records. The study points to a disturbing trend: The share of Americans in collections has remained relatively constant, even as the country as a whole has whittled down the size of its credit card debt since the official end of the Great Recession in the middle of 2009.  Health care-related bills account for 37.9 percent of the debts collected, according to a new report commissioned by the Association of Credit and Collection Professionals. Student loan debt represents another 25.2 percent, and credit cards make up 10.1 percent.”

http://www.sltrib.com/sltrib/money/58237523-79/percent-debt-credit-collections.html.csp

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1.1 million UK households could be in ‘debt peril’ by 2018: report

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“A modest increase in interest rates could render almost 25 percent of UK households in severe financial stress, according to a report published on Thursday. The Bank of England (BOE) has confirmed that such rate hikes are imminent.  High levels of household debt – resulting from consecutive years of easy credit – mean even a moderate rise in interest rates could create profound financial struggle for one in four households in the UK.  Despite a five year run of exceptionally low interest rates, many UK mortgage holders have struggled to pay their debts as a result of a troubled jobs market and very low wage growth, according to the RF.”

http://rt.com/uk/175368-debt-crisis-uk-recession/

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