- Joined
- Jun 6, 2011
- Messages
- 8,028
- Reaction score
- 13,745
Democrats set to control FDIC after Trump-appointed chair steps down
Setting up the next big deregulatory steal, aren't they.
Democrats set to control FDIC after Trump-appointed chair steps down
Setting up the next big deregulatory steal, aren't they.
The next steal, anyway.Setting up the next big deregulatory steal, aren't they.
record number amerikans quit their jobs in Nov
4.5M
by communist news business center
Almost precisely the same sentiment in the 1630s before it all fell apart. Speculators quit their day jobs en masse. The Viceroy bulb was the big dog, but the craze eventually spread to all flavors of tulips, even hyacinths. Sure, flowers are still a thing and the Dutch are still out front, but the price has come down dramatically to say the least.nope,
they quit because they were tired of putting up with 'the man'
they are all trading chitcoin now,
gonna be rich I tell ya
RICH!
I ain't a workin' no mo'
I ain't a workin' no mo'
That is fo sho'
I ain't a workin' no mo'
....................
Spark one up.I is gonna be so rich I am going to be gettin' those 24 pac thingies,
No more of dos' 12 packs for me I tell ya,
No uhhh uhhh
Gonna be livin' the good life
so the fed head is on speaking in a confirm hearing,
and of course these poli morons are questioning the trading in the markets by their members
yet no one questions any of these senators about their market activities
he stated any trouble ahead his first 'tool' is to lower rates, even though he does not have much room with rates already historically low,
he said the 2nd go to would be 'asset repurchase'
We're already in de-facto negative rates.he stated any trouble ahead his first 'tool' is to lower rates, even though he does not have much room with rates already historically low,
We're already in de-facto negative rates.
When the rate is 1 percent and price rises ("inflation," a misuse of the term) are at 16 percent (real figures, not the government doctored stats) we have a true negative rate of 15 percent a year.
I guess that's not enough for Powell...who figures himself a big, important **CENTRAL BANKER** but in fact is just a puppet of the puppet, pResident Pantload.
Wharton Professor of Finance,
Stocks are real assets, get out of paper ie bonds
Inflation is a comin'
Think of that though, stocks are real assets, and bonds are paper
Stocks are claims of ownership.
Subject to the courts and the Rule of Law.
And shareholders' interest can be overridden with major shareholders' or consortium's votes.
As Sears Holdings' former shareholders can attest to.
Another example: Burlington Northern Santa Fe Railroad Company was purchased by Berkshire Hathaway, a decade ago. BH started buying in, slowly, in the open market; than arranged arbitrage with varous investment banks, and then IIRC made a tender offer. Subject to withdrawl at any time, which, once they got 51 percent, they did withdraw.
With a voting majority, they voted a merger into Berkshire Hathaway, and the remaining shareholders were to be paid in BH stock.
Fair? BNSF was a very profitable railroad and paying significant dividends. Berkshire Hathaway is owned by Buffet and Munger in the majority, and pays NO dividends. Those two run it like a hobby, and reinvest profits.
All the BNSF shareholders who missed the tender offer, now have non-performing stock. And essentially no say-so about the company's operations.
A lot depends on the corporation's charter, identifying shareholder rights by stock class; as well as incorporation laws where the corporation filed.No, a common stock is a CLAIM upon a SHARE of any profits the corp derives, a BOND is a CLAIM upon the tangible assets of the bond issuer... if the corp goes bust, the shares are worthless, while a bondholder posesses a lien on the collateral for his investment, i.e. all the assets the corp owns.
Big difference between stocks & bonds!
Under the 2017 tax reform, American companies pay U.S. tax on global profits as those profits arise each year. This is done largely via the global intangible low-tax income, or Gilti, regime that imposes an effective tax rate of at least 13.125% on overseas profits arising especially from intellectual property held by offshore subsidiaries. The Biden plan would increase the Gilti tax rate to a statutory 21% (and an effective 26.25% after accounting for quirky tax mechanics).
But wait, there’s more. The Biden plan also would overhaul how companies calculate Gilti liability. Currently companies aggregate overseas earnings, losses and foreign tax credits in various markets into a single global calculation. The Biden plan would go country-by-country, meaning that for each jurisdiction in which a company does business it would have to compute its Gilti taxable profit, work out any local tax credits, and then figure the tax due.
Country-by-country reporting would introduce vast new complexity into the tax code. Even with modern computing power, running Gilti calculations in individual jurisdictions would be complex and expensive. Enforcement would be difficult because the volume of documentation would drown tax bureaucrats.
Country-by-country reporting also threatens to make overseas investment uneconomical. A flaw in the 2017 version of Gilti—which the Biden plan leaves in place—is that it doesn’t allow companies to carry losses forward or back.
Under Gilti, if an American company starts a new subsidiary in high-tax Italy that makes losses its first few years, that company still will owe tax in the subsidiary’s first profitable year. The partial solution in 2017 was to allow companies to calculate Gilti on a global basis, so profits in some places would offset losses in others.
The Biden plan’s country-by-country reporting removes that mitigation. It would tax profits that don’t exist in an economic sense, because Gilti would sometimes apply on “profits” that only recoup earlier losses. And companies would have to pay astronomical sums to their accountants for the pleasure.
Amid media fretting about Democratic disarray in Congress, don’t underestimate the party’s determination to ram something into law. Consider the Biden Administration’s plan to force tax increases through a skeptical Congress by exploiting global tax negotiations.
Treasury Secretary Janet Yellen this summer sidestepped a long bipartisan consensus to sign up the U.S. for a radical overhaul of corporate tax rules. Negotiated at the Organization for Economic Cooperation and Development, the agreement would revamp how tax jurisdiction is set for the world’s largest companies (mainly American tech firms), and also introduce a 15% minimum global tax rate.
Ms. Yellen thinks she’s found a way to railroad Congress. A sticking point in the OECD talks had been whether other countries would treat America’s Gilti as equivalent to the global minimum tax even though the fine print is different. Without this equivalent treatment, U.S. companies could be subject to double taxation.
The latest OECD deal offers to treat Gilti as equivalent, but it specifies in the same paragraph that the OECD’s minimum tax is designed to be applied “on a jurisdictional basis.” Translation: The global minimum tax will be calculated country-by-country, and Congress had better fall into line if it wants America’s Gilti tax to count.
The goal appears to be to put Congress in a bind. If the global OECD pact goes ahead and Congress doesn’t adopt the Administration’s country-by-country rule, it will subject American companies to ruinously high taxation abroad.
By agreeing to this language at the OECD, Ms. Yellen is helping other governments hold Congress hostage until Ms. Yellen extracts the Gilti changes she wants lawmakers to pass.
The Biden Administration’s Build Back Better spending extravaganza may be on life support, but some of its tax-raising gimmicks may survive.
Last year she [Yellen] broke a long bipartisan consensus to endorse new global tax rules under negotiation at the Organization for Economic Cooperation and Development, including a 15% global minimum tax on large companies.
This was supposed to be a threat from Ms. Yellen to Congress: Implement Democrats’ Gilti changes, or else. Congress has balked at changing Gilti, but now Ms. Yellen’s “or else” is arriving courtesy of the European Union.
EU bureaucrats last month released their draft directive instructing the 27 EU countries on how to implement the OECD minimum tax in domestic laws. The draft specifies that to count as equivalent to the minimum tax, a foreign government’s (read: America’s) global tax regime must be calculated on a country-by-country basis. And if Europe doesn’t treat Gilti as equivalent to its own minimum tax, U.S. companies could get taxed twice, paying both Gilti and the European minimum levy.
The directive we are putting forward will ensure that the new 15% minimum effective tax rate for large companies will be applied in a way that is fully compatible with EU law. We will follow up with a second directive next summer to implement the other pillar of the agreement, on the reallocation of taxing rights, once the related multilateral convention has been signed. The European Commission worked hard to facilitate this deal and I am proud that today we are at the vanguard of its global rollout.”
The proposed rules will apply to any large group, both domestic and international, including the financial sector, with combined financial revenues of more than €750 million a year, and with either a parent company or a subsidiary situated in an EU Member State.
“When life itself seems lunatic, who knows where madness lies.” – Don Quixote
“Permit me to issue and control the money of a nation and I care not who makes its laws”.
I COME IN A WORLD OF IRON TO MAKE A WORLD OF GOLD – Don Quixote
They are "experts!Of course if you subtract the CPlie from GDP "growth" there's been a recession underway for awhile, but that's too much common sense for the fed goons.
Loan Type | MI Type | Interest Rate | Discount Points | APR |
---|---|---|---|---|
Conforming 30-year Fixed | 3.625% | 0.375 | 3.682% | |
Conforming 15-year Fixed | 2.875% | 0.375 | 2.976% | |
Conforming 7-year/6-month ARM | 3.125% | 0.250 | 2.967% | |
Conforming 10-year/6-month ARM | 3.250% | 0.250 | 3.099% |
Loan Type | MI Type | Interest Rate | Discount Points | APR |
---|---|---|---|---|
Jumbo 30-year Fixed | 3.125% | 0.375 | 3.184% | |
Jumbo 15-year Fixed | 3.000% | 0.250 | 3.089% | |
Jumbo 7-year/6-month ARM | 2.625% | 0.375 | 2.750% | |
Jumbo 10-year/6-month ARM | 2.750% | 0.500 | 2.817% |