FactMag: SoundCloud could be forced to close after $44m losses.
“... SoundCloud was heavily reliant on ‘further capital investment’ to continue operating in 2015.” Ruh-roh. Hedge your bets if you’re using the service, peeps.
Reuters: Fed’s Yellen sticks to her guns as global market rout worsens.
Yes, well. If you look at every time the Fed has mentioned raising rates in the recent past, Wall Street has had some sort of rout to blackmail the Fed into not making a move. This doesn’t seem much different. Yellen is letting them know she won’t be blackmailed, methinks.
But oh, the pain in my IRA ...
GroopSpeak: GOP Congress Breaks With History For First Time In 41 Years To Snub Obama.
Beyond just gridlock. Remember this in November.
Guardian.UK: Average gas price in US drops below $2 a gallon for the first time since 2004.
Good news. Price drops for consumer goods shipped by truck ... ? MIA?
naked cap: Tax Breaks for Big Pharma on Top of Unreasonable Price Hikes.
“The Allergan merger enables Pfizer to move to Ireland and cut its taxes. As expected, Read claims that the money will go to increased R&D. He implies Pfizer doesn’t have enough money for R&D right now. Let’s see what Pfizer’s 2014 financial statements say about that. In 2014, Pfizer reported net income of $9.1 billion. P. 58. It paid dividends of $6.6 billion, and repurchased stock for $5.0 billion, a total return to shareholders of $11.1 billion. No wonder there is no money for an increase in R&D.”
The Hill: Bush says he’d ‘eliminate’ Citizens United.
“Calls to undo the Citizens United decision could be popular with New Hampshire voters turned off by political advertising, but it is unusual to hear from a Republican.” Hey, if the Right is splintered, go for the larger Center. Maybe he’s getting wise.
Mashable: Dick Nixon on the Democrats: Hillary’s weak and Bernie’s clueless
naked cap: Gaius Publius - The Pressure on Warren to Support Hillary Clinton.
Of interest. Stick to your guns, Liz.
Atlantic: Clinton and Sanders Fight Over How to Tame Big Business.
Worthy read. Though I can’t help thinking articles like this award more historical background and altruistic motivation than actually exists - we saw this with the deep analyses of Obama’s policies, pre-election. No great shakes, in retrospect.
The Nation: Elizabeth Warren Blasts a Republican Plan to Protect White-Collar Criminals.
“ Banks or payment processors would no longer be held criminally responsible for simply aiding fraudulent activity involving customer accounts, since the fraud was not primarily conducted by the bank, nor against it.” What the bloody hell? Mattresses, not banks. Mattresses. I’m convinced.
NPR: No Comment From Grinning Martin Shkreli At House Hearing On Drug Prices.
Everything that’s wrong with capitalism, in one human waste.
The Register.UK: US taxmen borked in computer cockup riddle.
Quartz: The US bet big on American oil and now the whole global economy is paying the price.
MarketWatch: What you need to know about the Bank of Japan and negative interest rates.
“Central banks use their deposit to influence how banks handle their reserves. In the case of negative rates, central banks want to dissuade lenders from parking cash with them. The hope is that they will use that money to lend to individuals and businesses, which in turn will spend the money and boost the economy and contribute to inflation.” Surprisingly, Wall Street seemed to respond positively to this move. Then again, maybe it’s just “better them, than us.”
New Economic Perspectives: Tax Credits and Dollars—Playing Charades with Low-Income Housing.
Wikipedia: General Motors streetcar conspiracy.
Random interesting subject of the day. Someone posted a leading infographic on FB, so I took a peek.
PS Mag: Beyond the Bundys - The Far Right and the Future of Conservation.
Yes, well ... click this additional link, to what happened to NM when we hitched our wagon to ‘easy’ oil revenues, giving these outfits near carte blanche. We have thousands of square acres that are perfect for solar and wind and cows/ranching. The industries we should be handing carte blanche to are a no-brainer, but the Legislature is blinded by the shortfalls at the moment.
Atlantic: Heartland Monitor Poll Shows American Pessimism Deepening Despite Improving Economy.
“... the slow, unevenly distributed recovery that has marked its aftermath—crystallized for many Americans a new normal, one that presents them with reduced economic security and heightened risk even while it provides them with new opportunities and flexibility.” Offered sans comment, for now.
New Economic Perspectives: Wall Street Declares War on Bernie Sanders.
“The Wall Street plutocrats, with good reason, fear Bernie – not Hillary. Indeed, it is remarkable how vigorous and open Wall Street has been in signaling through the financial media that it has no problem with Hillary’s Wall Street plan.” You can feel the fear.
WaPo: Kids would rather play Xbox than make money shoveling. It’s pitiful.
“A couple of teens going door to door in New Jersey last year were stopped by police for operating without a license, just like the summertime lemonade-stand crackdown. Politicians actually debated whether kids should have to get a $450 business license to shovel Old Lady Johnson’s walk down the street before passing a bill giving them special permission to shovel. New Jersey Gov. Chris Christie (R) signed it into law last week, just in time for the snow.” My incredulous italics. Via Medley on FB.
In These Times: Paul Krugman Is Wrong About Bernie Sanders—and About How Social Change Works.
It’s pretty clear, Hillary’s been calling in markers.
Guardian.UK: Global oil glut sends US stock markets plummeting.
They cost us at the pump, they cost us in our retirement accounts and investments. Not fair.
Re/Code: Big Exec Departures at Twitter.
“In general, it has been a very hard time for all top execs there, as Twitter has struggled to regain its growth among users and momentum with investors. Along with that, the company’s stock has plummeted recently to well below its offering price.”
Economist.UK: The centre cannot hold.
“Congress used to be full of members like Mr Hanna and Mr Israel: moderates who reflected the middle-class, middle-of-the-road districts that elected them. They are an endangered species, and worth heeding. Congress will not be saved without them.” A little article that reveals more about what’s wrong with our political process than most. Worth your read. Very much so.
Economist.UK: A tangled web.
We across the pond often look fondly over at the British pensioners. Seems even Britain can’t resist fiddling to save $$.