Government

Will the Labour Party Help or Hinder U.K. Business?

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In the U.K. the opposition party appoints a person to “shadow” the person in office thus learning the job and able to speak intelligently about alternative policies. Following the speeches of Shadow Chancellor Ed Balls and Party Leader Ed Miliband, we now know more about how Labour plans to treat business.  So if  the Labour party wins the 2015 general election, would they help U.K. business or hinder it?

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Obama’s Comments Worry Stock Bulls

1 Comment / FED, Stock Market / By

Today Chris Ciovacco points to some other indicators that are beginning to turn negative.  Of course, we are coming to the end of the summer doldrums and so we could see a reversal of fortunes as we enter the fourth quarter but we still have to make it through the notorious months of September and October. Remember the ROC has not issued a sell signal yet but just a preliminary warning.

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Hyperinflation-1967-2011

Surviving a Hyperinflation

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The most notorious recent case was in Zimbabwe and ran from 1998 – 2008. But North Korea experienced less severe hyperinflation in 2010 -2011. Other recent examples include Belarus 1994-2002, Bosnia and Herzegovina 1992-1993, and Angola 1991-1999. You can see a list of 26 examples of Hyperinflation beginning with Egypt in 276 AD which had 1 million percent inflation over 58 years and ending with Zimbabwe. And lest we Americans get too smug we need to realize that we are the only ones on the list twice. Once in 1779 and again in 1861-1865. The result of the Revolutionary and Civil wars.

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The IRS’s Job Is To Violate Our Liberties

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“What do you expect when you target the President?” This is what an Internal Revenue Service (IRS) agent allegedly said to the head of a conservative organization that was being audited after calling for the impeachment of then-President Clinton. Recent revelations that IRS agents gave “special scrutiny” to organizations opposed to the current administration’s policies

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Income Taxes

The 100th Anniversary of the Federal Income Tax

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1913 is a year that will live in infamy. On March 1st, 1913, the 16th Amendment took effect providing for a 1% Federal Income tax and on December 23rd President Woodrow Wilson signed the Federal Reserve Act into law. Perhaps an effort to keep tabs on the Federal Reserve is what inspired the Department of Labor to begin tracking inflation that same year. Incidentally, that same year the department of Commerce and the department of labor split into two separate departments. Now 100 years later the average Federal Income Tax rate in 2011 was 11.8%. The top 5 percent of earners paid approximately 58.7 percent of federal individual income taxes while paying an average effective tax rate of 20.46%. The bottom 50% paid an effective Federal Income Tax rate of 1.85%.

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Cyprus Banks and the Rise of Neo-Feudalism

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Even though the Central Bank of Cyprus is showing the world – in stark naked detail – how governments will deal with their debt problems, there is no general panic. Panicos Demetriades the governor of Cyprus’ central bank goes about his business… like Ben [Bernanke] and Mario [Blejer head of the Argentine Central Bank]… ripping

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