Recent comments by Rajesh

burnside wrote:

my admiration for what he's attempting to do.

Mutilate female feet?

lawyerliz wrote:

We had buffalo burgers.

We had buffalo bison burgers. Fixed It For Ya

lawyerliz wrote:

Oh well, there's nobody here anyway.

That's good.

justaskin wrote:

do banks fail on Good Friday?

Bank holiday. If they were going to close a bank, the FDIC would show up at the close on Thursday.

Outsider wrote:

Perhaps they'll listen now.

Perhaps they never will.

robj wrote:

I was speaking truth to the job creators.

They're not listening, They do not know how.

josap wrote:

Food keeps going up.

Do you know how many Billions the Department of Agriculture spends to ensure that that happens?

Feature, not bug

mr_clueless wrote:

no failed banks today?

Good Friday. If they were going to close a bank this weekend, it would have happened last night.

Tom Stone wrote:

Not sure what will get built there...

Steve Jobs College of Options Backdating and Employment Monopsony?

Rob Dawg wrote:

An exact copy of someone else's no doubt.

The same design but using inferior materials and workmanship.

Tom Stone wrote:

Not sure what will get built there...

Vladimir Putin's Institute for International Law and Relations?

Tom Stone wrote:

Not sure what will get built there...

Joe Biden's 2016 Campaign headquarters?

Tom Stone wrote:

Not sure what will get built there...

Mitt Romney's Presidential Library?

Temporary increases in Wealth don't increase spending. No one really believe asset prices are sustainable.

Antipodes wrote:

Launch of what?

Spicy Indian Burrito. Pay attention.

Amazon's tax-free European profits drop after IRS clamp-down
| Reuters

Amazon (AMZN.O) minimizes its tax bill by having the U.S. unit which owns its technology licenses lease the rights to re-license the technology to a tax-exempt partnership based in Luxembourg.

This partnership then resells the software rights to other affiliates for a much higher price, corporate and court filings show.

Such arrangements have drawn fire from politicians on both sides of the Atlantic as well as citizens struggling with higher personal taxes and cutbacks in state services imposed to pay for the financial crisis.
...
Amazon and the IRS have been in dispute for years about Amazon Europe Holding. The unit pays U.S. affiliates to use existing software and shares the U.S. affiliates' cost of funding new technology, in return for the right to re-license this technology to affiliates in Europe.

According to a filing with the U.S. Tax Court in December 2012, the IRS has argued that Amazon Europe Holding should have paid much more to the U.S. affiliates, A9.com Inc and Amazon Technologies Inc., for the rights it received.

If Amazon Europe Holding had paid more, this would have increased Amazon group's U.S. taxable income. The IRS said Amazon Europe should have paid the U.S. arm an additional $110 million in cost-sharing payments in 2006 alone.

Amazon took a legal challenge against the IRS claims, saying its 2005-to-2011 payments were appropriate, the December 2012 court filing said.

Nonetheless, from 2012, Amazon Europe Holding increased the amount it paid its U.S. affiliates substantially.

In 2012, it paid them 408 million euros, up from 229 million euros in 2011. In 2013, it paid 420 million, accounts filed in Luxembourg this week showed.

Amazon declined to say why the payments had risen. Lawyers and accountants say the IRS has been tightening the rules covering inter-company cost-sharing agreements since December 2008.

Hu Knows
UPDATE 1-China home price inflation cools to 8-month low in March
| Reuters

Average new home prices in China's 70 major cities rose 7.7 percent in March from a year earlier, easing from the previous month's 8.7 percent rise, according to Reuters calculations based on data released by the National Bureau of Statistics (NBS) on Friday.

In month-on-month terms, prices rose 0.2 percent in March, slowing from February's rise of 0.3 percent.

Analysts said the cooling of the property market is an initial indication of stabilisation and they expected the easing trend to continue this year.

"Home price rises will continue to lose momentum this year as we have seen more developers start to cut prices," said Liu Yuan, a research head of property consultancy Centaline in Shanghai.

It's contained!

My bottom ad is for 'Trucker to Trucker" ad service.

Hu Knows
China shoe factory strike shows welfare Achilles' heel
| Reuters

Zhou and other striking workers believe Yue Yuen Industrial Holdings Ltd, which owns the factory making footwear for Nike, Adidas and others, has for years underpaid into workers' social insurance accounts - government-mandated nest eggs for disability, unemployment and retirement.

The issue goes far beyond the shoe plant, and highlights a looming problem for China: the workforce that has transformed the country into a global manufacturing powerhouse over the past 35 years is coming up to retirement age.

And, as these millions of blue collar workers begin claiming retirement benefits from local social security funds, they may find there's less in the pot than they thought.

The underpayment of social insurance contributions is common practice by factory owners across China, labour lawyers say.

ResistanceIsFeudal wrote:

it's an affront to human decency

They've been trying to stamp out human decency for centuries; what makes you think they'll be able to do it now?

Comrade Kristina wrote:

Is HCN reallyyy slow this morning or is it me?

Yes.

Comrade Kristina wrote:

Is HCN reallyyy slow this morning or is it me?

Yes.

burnside wrote:

you'd think it directed the nation.

No, that's the NSA's job.

burnside wrote:

That it rightly and inevitably constitutes a large component of an economy.

Even at the peak of the housing bubble, it was only 6% of GDP. Generally, it is a good indicator because it has historically been more volatile that other components of GDP. Housing and autos, both very interest sensitive, are often the first sectors to respond to loosening of monetary policy. The inability of housing to rebound despite near zero interest rates is one aspect of the broken transmission mechanism of monetary policy, often called the liquidity trap.

emergency hotdog wrote:

how many things are we fighting about right now?

I don't know that there is any fighting right now, just tired restatements of worn out slogans.It's like we no longer enjoy bloodying ourselves with the contents of our skull.

The coup in a TEU product is very popular.

Outsider wrote:

I think their parents are worried about their futures if they don't.

I think their parents are worried about their futures student loan payments if they don't. Fixed It For Ya

We know kids today have no future, except as debt slaves.

Cr wrote:

RevPAR: Revenue per Available Room. These metrics are now at new highs.

In Nominal terms. With a smaller base of available rooms.

A strong economy is always six months away!

Outsider wrote:

we no longer have to type the jokes.

53!

Outsider wrote:

President Vladimir Putin has for the first time admitted that Russian forces

Liar. We know there was no Russian involvement in Crimea. He's just trying to hide the involvement of his NSA masters.

I am sure that Snowden is his NSA handler and the "leak" is just a cover story to allow him to go to Moscow so he can set up an NSA base and more closely monitor Putin's actions. Only after he got set up was the NSA able to proceed with its Ukraine plans.

Rob Dawg wrote:

Nobody thinks it is a basket case?

Over-leveragaged banking system? Check.
Dysfunctional politics? Check.
Regulatory Complacency? Check.
Dependent on fickle foreign markets? Check.

Japan and Russia are in recession.

Bank of America's financial crisis costs become a recurring nightmare
| Reuters

The bank on Wednesday posted $6 billion of litigation costs for its first quarter, far exceeding the $3.7 billion of settlement costs that investors had previously known about.

Since the 2008-2009 financial crisis, Bank of America has announced some $50 billion of settlements, before taxes. Without those charges, its income before taxes would have been about three times higher.

It has posted more than $1 billion of expenses from announced and expected settlements, excluding its lawyer fees, in eight of the last seventeen quarters, and in some quarters many times that number. Litigation expenses in four of the five quarters since the start of 2013 have exceeded $1 billion.

"It's almost like these guys have become the tobacco industry," said Matt McCormick, a portfolio manager at Bahl & Gaynor Investment Counsel, in reference to payments by cigarette makers to settle lawsuits. "It becomes a constant irritant, these things just don't seem to go away," McCormick added. Bahl & Gaynor, which manages more than $11 billion, does not invest in Bank of America shares.

Outsider wrote:

Will it get to the point where we all have personal robots who will do our work for us?

You don't have one yet?

Vonbek777 wrote:

I wonder what country has the most robots.

Japan according to the latest numbers I've seen. Of course, it depends on how you define robots.

mr_clueless wrote:

what will the s&p 500 be at when they eventually decide to raise rates?

550 for the S&p. The market will anticipate the raising of rates.

The BRIC countries are going to borrow themselves rich. Yay!

Surely, "What's for lunch?" should be in the three big questions.

The Founding Fathers were the 1%.

Hu Knows Wiv a Little Bit of Luck
China gets first bitcoin ATM, skirting bank crackdown
| Reuters

BTC China, one of the country's leading digital currency exchanges, has installed China's first bitcoin ATM and launched an online app allowing individuals to buy and sell bitcoins using mobile phones, skirting local banking regulations seen as increasingly hostile to so-called crypto-currencies.

Rising interest from mainland Chinese speculators was credited for driving up global bitcoin prices last year to above $1,000 on some exchanges. But a subsequent crackdown by the People's Bank of China (PBOC) has seen the digital currency sag, changing hands below $530 on Wednesday, according to exchange-tracker CoinDesk.

Rob Dawg wrote:

expecting royalties.

The Duke and Duchess of Cambridge and Prince George are in New Zealand, I think.

Hu Knows Dont Panic!
China’s GDP Growth Slows to 7.4% in First Quarter on Investment - Bloomberg

China’s economic growth slowed to 7.4 percent in the first quarter from a year earlier, as the government tries to curb a credit boom while sustaining enough expansion to support employment.

The expansion figure today from the National Bureau of Statistics in Beijing compares with the 7.3 percent median estimate of 63 analysts in a Bloomberg News survey and 7.7 percent in the previous three months. The economy grew a seasonally adjusted 1.4 percent from the fourth quarter, compared with the 1.5 percent median projection from analysts.

Industrial production advanced 8.8 percent in March from a year earlier, compared with the 9 percent median estimate of analysts and 8.6 percent in the January-February period. Retail sales rose 12.2 percent, compared with a 12.1 percent median estimate and 11.8 percent in the first two months of the year.

Fixed-asset investment excluding rural households increased 17.6 percent in the first quarter from a year earlier, the statistics bureau said. That compares with the 18 percent median estimate in a Bloomberg survey and a 17.9 percent pace in the January-February period.

burnside wrote:

first amendment zone

Didn't they have one at the Republican Convention?

lawyerliz wrote:

why are these people defending him?

The government is restricting his right to abuse other people's property. Next the government will tell him his cattle doesn't have a right to be subsidized by taxpayers. Then they'll take away our Medicare scooters.

It's a slippery slope.

Outsider wrote:

you may have saved the earth and humanity as we know it.

Well, the earth is worth saving, at least.

I haven't always been an idiot. It took me many years of practice.

Ukraine Moves Against Separatists as Medvedev Evokes Specter of Civil War - Bloomberg

Four militants were killed and two wounded when Ukrainian troops stormed an airport in Kramatorsk, taking it under control, Russia’s state-run RIA Novosti news service reported. Ukrainian units backed by armored personnel carriers blocked all approaches to the town of Slovyansk, RIA said, citing an a pro-Russian activist, Sergey Tsyplakov. Part of Russia’s 45th Airborne Regiment was spotted in both of the towns, Ukrainian First Deputy Prime Minister Vitali Yarema said on Channel 5.

If it's on television, it must be true.

Rob Dawg wrote:

What's worse than the Ukraine in the Russian sphere? Half the Ukraine in the Russian sphere.

What's worse than the Ukraine in the Russian sphere? Half the Ukraine three Ukrainian cities in the Russian sphere. Fixed It For Ya