Government Shutdown Stops Nasty Housing Data in its Tracks | Wolf Street
Government Shutdown Stops Nasty Housing Data in its Tracks | Wolf Street
— Read on wolfstreet.com/2018/12/27/government-shutdown-stops-nasty-housing-data-in-its-tracks/
Government Shutdown Stops Nasty Housing Data in its Tracks | Wolf Street
— Read on wolfstreet.com/2018/12/27/government-shutdown-stops-nasty-housing-data-in-its-tracks/
The EU has shocked the auto industry and came out based upon this new round of forecasts that humans will be extinct by 2050. Cars must now become considerably more climate-friendly by 2030. The carbon dioxide emissions of new cars must fall by 37.5% compared to 2021. The negotiators of the EU member states and the European Parliament agreed on this compromise on in Brussels last week. With regard to light commercial vehicles, a CO2 reduction of 31% was agreed upon. For both vehicle classes, however, they also imposed a reduction of 15% must be achieved by 2025 as the first stage. This agreement actually comes as a surprise to many. The requirements are far more drastic than the car industry and the German government originally wanted. Naturally, Germany was not looking for such a reduction and were hoping to cap it at 30%. But all the extinction forecasts led the alarmist to demand 40% so the 37.5% was a compromise that was substantially above the level German expected.
— Read on www.armstrongeconomics.com/world-news/climate/eu-demand-a-37-5-reduction-in-co2-output-from-cars-by-2030/
Wait until the working class and people on fixed incomes get hit in the pocketbook with this new reality. Cars and trucks will cost more. It will cost more to charge your electric vehicles and heat and cool their homes. Prices on everything else will rise in accordance, except wages.
Nasdaq, “Tech,” & IPOs are in for Gut-Wrencher | Wolf Street
— Read on wolfstreet.com/2018/12/24/nasdaq-tech-ipo-2018-2019-plus-bust-similar-to-dotcom/
There has always been a question in law that was originally argued as the conflict of laws known as “geographical morality” versus “universal morality” that emerged in one of the longest running trials in British history. The case involved an East India Company corruption which was brought against Warren Hastings (1732-1818) between 1787 and 1795. Hastings had been governor of the company which, by the late 18th century, ruled large parts of India in Bengal. One of the charges against him was that he had received “considerable presents, for brokerage and bribes for the sale of office”, which Lord Chancellor Edward Thurlow, the judge, described as “the most odious and disgraceful species of corruption that could be charged”. Nevertheless, Thurlow also objected to what he saw as a new doctrine introduced by Hastings’ chief prosecutor, Edmund Burke (1729-1797). Indeed, Burke argued that if a gift passed from an inferior to his superior in office, that was sufficient to be counted as a bribe. I mention this because the charges against Michael Cohen are similar whereby nobody has ever been prosecuted under such a theory before that the payment to someone to remain silent exceeds the $2700 limit on campaign contributions. In the case of Hastings, Thurlow thought a corrupt motive still had to be shown and Hastings was acquitted. The most interesting aspect of this trial was a question never reached. Hastings’ trial raised the fascinating question about what Burke called “geographical morality” meaning a morality that was place-specific rather than universal. Hastings had argued that “actions in Asia do not bear the same moral qualities which the same actions would bear in Europe”. He could not, therefore, be judged on the same moral standards imposed in England. His acquittal thus left the idea of universal morality up in the air. Today, most countries respect the rule of law, except that of the United States because prosecutors and judges have absolute immunity even if they falsely accuse someone and demand the death penalty. They are the only people who can kill someone and remain above the law. The case of Mark Rich who fled to Switzerland could not be extradited to the USA because the crimes he was changed within New York were not recognized as crimes in Switzerland. This was the classic example of “geographical morality” versus “universal morality” where you cannot be charged with a crime in one country because you are a citizen when the act was not a crime where it took place.
— Read on www.armstrongeconomics.com/international-news/rule-of-law/geographical-morality-versus-universal-morality/
Mueller was desperate after failing to prove that was Trump colluding with the Russians instead of Hillary. He was and is grabbing at straws. The ineptness of the GOP investigation into the Clintons, coupled with the Mueller smoke screen for two years, has achieved its goal.
The Democrats will have the House to make Trump the target instead of Hillary. We will get two more years of the same old nonsense.
According to an article on CNBC, top Silicon Valley analyst, Ray Wang, suggested that Facebook as a problem and has “broken trust on many levels.” We at
— Read on classiarius.net/facebook-suffers-from-broken-trust-according-to-top-tech-analyst-stock-is-beaten-down/
My Theory About Gold as Diversification to the Busted “Everything Bubble” | Wolf Street
— Read on wolfstreet.com/2018/12/25/my-theory-about-gold-as-diversification-to-the-busted-everything-bubble/
Although some capitalists and defenders of free markets believe that Ebenezer Scrooge has much to teach us about good economics, I have long found him to be less than inspiring in this respect.
— Read on mises.org/wire/ebenezer-scrooges-tiresome-crusade-against-consumerism
There are three money supply statistics that every citizen should understand. They are the monetary base, M1, and M2.
— Read on mises.org/wire/monetary-base-never-returned-normal-after-great-recession
The money printing has gotten out of hand, the Fed is correct in tightening the money supply. Banks are actually offering a small return on savings accounts again. Savings creates a much more stable economy than money printing. The banks actually accumulate income and wealth rather than using derivatives and other risky financial investments.
The commentary that has appeared in Forbes calls for the only solution is to outlaw pensions. This is actually what will happen. Because there is no resolution, the government pensions will demand to raise taxes and then there is never any reform in government so the end game is one major economic confrontation – the people v government. They really cannot grasp that the crisis is profound. For every person who retires, the government hires a replacement. The cost of government explodes exponentially. The system is doomed and this is what is going to rise up into civil unrest. Federal governments can create money but state/provincial and local government can only raise taxes. In Germany, the lessor governments are petitioning the federal government for a bailout since already 40% are effectively broke. It is this desperate letter we received from California trying to claim we must pay taxes simply because Amazon may store some reports or DVDs in their California warehouse. If you buy something from Amazon, they send it to you and collect whatever tax. They remit the tax and we do not mail the products nor receiver the taxes collected. We would have no idea what tax would be owed to California. Obviously, we have no choice but to inform Amazon to remove all our products from California. If everyone is compelled to do the same, then there go those jobs in their California warehouse. There is no rational reasoning with these people. They will simply destroy the economy because they are greedy and beyond hope. What will happen is drastic. Do companies not residing in California simply refuse to do business with anyone from California? Already we cannot send printed reports or books to Australia. Amazon refuses to deal with Australia because of taxes and our Australian clients can only get downloads. Eventually, Australia will impose internet taxes and that will only isolate Australia. This is all becoming insane.
— Read on www.armstrongeconomics.com/world-news/pension-crisis/outlaw-government-pensions-the-hunt-for-endless-taxes/
The too generous public pensions allow serving politicians to be seen as generous. When the generous pensions come due, the same politicians are retired and drawing pensions themselves. Once again, no accountability for elected officials. Many of the double dip, drawing pensions from multiple pension funds, all supported by taxpayers who only get SSI.
ICOs and IPOs are fund raising mechanisms in which new projects sell their underlying crypto tokens or stocks to the public. Think of an IPO or initial
— Read on classiarius.net/what-is-an-ico-how-is-it-different-from-an-ipo-guide/
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