Firemen’s Corruption of Public Service

Thee IC respects firemen and police but whenever we talk about corruption, overtime pay, insane retirement packages we are told we don’t appreciate them. They are far from the most dangerous jobs out there. Clean it up, please.          From the American Spectator: When it comes to firefighters, most Americans are satisfied […]

This Tech Bubble is Ready to Pop

More signs of a bear market on the horizon. Shipping is also down 14% worldwide. How long will the Central Markets manipulations keep inflating the bubble?           From The WSJ: When the dot-com bubble burst in early 2000, the fallout for publicly traded stocks was quick and severe. The Nasdaq Composite […]

Are Pope Leo XIII and Pope Saint John Paul II “feeling the Bern”?

The Church is against both state control and crony capitalist control of the economy. From Catholic World Report:  One week ago, the morning after the Vatican’s one-day conference Centesimus Annus25 Years Later, Pope Francis and U.S. presidential candidate Bernie Sanders happened to meet in the lobby of the Vatican hotel, Casa Santa Martha. Sanders had […]

LA retirees collect $1 million-plus pension payouts

  Disgusting and they are protected by the corrupt Democrats in this 1 party state   From Transparent California: Four Los Angeles police and fire retirees collected over $1 million apiece in pension payouts last year, according to just-released 2015 pension data from TransparentCalifornia.com. Retired assistant fire chief Timothy Manning’s $1,181,309 pension and benefits package was […]

Carried Interest: Loophole in Tax Code?

Thee-IC believes that treating “carried interest” and stock options as capital gains, thus a much lower tax rate than ordinary income, needs to change. Loopholes such as these fuel socialist arguments against capitalism.   From Ivestopedia: A 2010 study by the Levy Economics Institute of Bard College on the distribution of wealth in the U.S. […]

IRS vs. Norcal Tea Party Patriots

“It reminds us of that joke about the definition of chutzpah: A guy kills his parents, then pleads for mercy on the ground that the inheritance tax is punishment enough.” From the WSJ: Will federal employees who support President Obama ever be held accountable for hijacking the Internal Revenue Service and using it to assist […]

Big Banks Paid $110 Billion in Fines. Gov’t Keeps $$

More government corruption. Instead of the penalties going to help those impacted it is used by the bureaucracy that imposes the fines. Terrible. We are becoming a 3rd World nation. From the WSJ: The nation’s largest banks paid fines totaling about $110 billion for their role in inflating a mortgage bubble that helped cause the […]

Cash for Visas – Trump Tower Funded by Rich Chinese

More Trump hypocrisy exposed. Watch the video, too.   From Bloomberg: Throughout his presidential campaign, Donald Trump has attacked China and warned about the dangers of deficient immigrant screening. “They’ve taken our jobs, they’ve taken our money, they’ve taken everything,” he said of China in a speech late last month. He has called for a […]

The Young and the Economically Clueless

A good article on the disillusioned youth and the struggling working class. From the WSJ: Bernie Sanders, the 74-year-old self-described democratic socialist, is surprising even himself with his primary-season success againstHillary Clinton, fueled by a staggering 83% majority of the under-30 vote in New Hampshire and 84% in the Iowa caucuses. As this newspaper reported […]

Is American Growth a Thing of the Past?

“Scholars divide into three schools. There are the techno-optimists, such as Erik Brynjolfsson and Andrew McAfee, who believe the future is accelerating and will generally bring happy results. Their book, The Second Machine Age(2014), argues that intensifying automation will free up labour for more interesting pursuits — and leisure. Theirs is a vision of abundance. […]

Crude Oil Rally Based on ‘False Hope?’

Will oil stabilize at c. $30 or drop near $20?? From CNBC: Oil prices rallied more than 12 percent Friday on renewed prospects for an output cut among the world’s oil producers, but analysts and market watchers told CNBC that traders shouldn’t hold out hope. Crude prices spiked Thursday afternoon after UAE Energy Minister Suhail […]

Stocks Tumble as Investors Flee

U.S. equities follow Asian, European shares lower; Treasurys, gold, yen surge. When will it bottom and where? From the WSJ: The global stock selloff intensified Thursday as investors sold shares across all sectors and sought safety in government bonds and gold. A resumption in the slide in bank shares and a further fall in the […]