Economics // Current TV

The Hot Dog Stand: How Much Would You Charge?

by Amaterasu Solar Let Us presume a world where free energy is available to all.... more

Amaterasu
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21 days ago
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CA CAFR shows $600 billion tax surplus, 1% criminals cover-up, demand austerity

These facts at the state level in California are repeated by the two main political... more

wbradleyjr1
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2 days ago
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Repost From February 2009 - "Is The GOP Actively Courting A Depression?"

Was the Civil War a Pyrrhic victory?

mfb1949
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6 days ago
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New Obama ad: "Forward"

Edit to ask you guys and gals to spread it far and wide on facebook and anywhere else.... more

KB723
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23 days ago
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26 comments

100% PROOF! Obama is a KEYNESIAN!

Irrefutable proof. I cannot believe there are some Americans who still don't... more

Radical_Centrist
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27 days ago
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188 comments

Social Security vs. Private Retirement

Is Social Security a good retirement plan? Economics professor Antony Davies shows... more

Radical_Centrist
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28 days ago
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13 comments

Surging IPOs bring echo of tech-bubble era to Wall Street

You know it's funny, the rich seem to have buckets and buckets of cash, yet they are not creating any jobs, they are speculating with that cash. Buying stock may eventually create a few jobs, as the corporation has more capital to invest, but that’s not what their doing with it. Their using tax loopholes to take it out as capital gains, or shifting the income overseas with funny cooked books. This is creating a feedback mechanism in the market, where one investment begets more CEO cash payments, the beget more investment. Wonder why oil is so height? The rich folk have nothing better to do with their money than chase high returns in the commodities market. If you want to spur reinvestment in growth and more jobs, you need to:

1. Increase demand by putting people back to work and protecting safety nets. This will reduce the cost of safety nets programs, and also increase sales tax and income tax that helps pay for those programs.
2. Eliminate loopholes that permit corporate money laundering.
3. Increase personal tax on income being drained out of these corps, so that they leave the money inside.
4. With some of the savings from the above, create a tax discount on the hiring of American workers; especially for repatriated jobs brought back.
5. Take the rest of the savings from 1-4 and reduce the deficit.
6. Start reducing Federal defense spending by 20% each year for three years. Take all of the savings and put it in into U.S. Infrastructure projects for 10 years. After 10 years, start reducing overall expenditure, until the only thing left at the end is defense at 40% of today’s level. The reason to do it this way are because defense does employ a lot of people. This will keep employment up while reducing defense and rebuilding our crumbling infrastructure.

Some additional things to help:
1. Reform the drug industry to bring down costs.
2. Reform the healthcare industry to reduce administrative costs, and move toward a pay for results instead of a pay for procedure culture.
3. Each state should create a state owned bank after the model set in South Dakota. Oregon and California are looking at this, you should support it. It gives the state more control over their finances instead of letting so guy on wall street manage it all. It does not compete with local banks.
4. Break up the big banks into smaller regional or state banks.
5. Bring back the banking regulation we lost in 80's and 90's.

Wm. Kelly BalthropYou know it's funny, the rich seem to have buckets and buckets of cash, yet they... more

Kelly_Balthrop
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1 month ago
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Keiser Report - Economics of Suicide

Thanks Max for laying it on the line

figgdimension
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1 month ago
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Conyers: Equal Pay for Women Also A Civil Rights Issue for Working Families

“This is because pay discrimination effects not only the woman being... more

Beverly_Tran
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1 month ago
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Romney's Pelosi Moment "You gotta elect me first before you find out what my economic policies are going to be."

Romney is alarmingly secretive about policy: Even when speaking "privately,"... more

jubal
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1 month ago
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Regardless of Economic Plan America Can't Compete

Both Republicans and Democrats jabber a lot about jobs, even when times are relatively... more

omnipotentpoobah
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1 month ago
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Keiser Report: Jamie Dimon asks why people hate banks (07Apr12)

By Susie Madrak

What on earth could possibly go wrong with one of the world's largest banks betting heavily on high-risk derivatives? Originally, that was supposed to be banned under Dodd Frank with the Volcker Rule. But lobbyists made sure it was just a hollow joke.

I don't know about you, but I don't want to pay for another round of bailouts for these jerks:

JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon has transformed the bank’s chief investment office in the past five years, increasing the size and risk of its speculative bets, according to five former executives with direct knowledge of the changes.

Achilles Macris, hired in 2006 as the CIO’s top executive in London, led an expansion into corporate and mortgage-debt investments with a mandate to generate profits for the New York-0based bank, three of the former employees said. Dimon, 56, closely supervised the shift from the CIO’s previous focus on protecting JPMorgan from risks inherent in its banking business, such as interest-rate and currency movements, they said.

Some of Macris’s bets are now so large that JPMorgan probably can’t unwind them without losing money or roiling financial markets, the former executives said, based on knowledge gleaned from people inside the bank and dealers at other firms. Bruno Iksil, a London-based trader in Macris’s group, gained attention last week after moving markets with his trades, drawing a comparison to Federal Reserve Chairman Ben S. Bernanke’s power in the government-bond market.

“What Bernanke is to the Treasury market, Iksil is to the derivatives market,” Bonnie Baha, head of the global developed credit group at DoubleLine Capital LP in Los Angeles, where she helps oversee $32 billion, said in a telephone interview.

Macris’s team amassed a portfolio of as much as $200 billion, booking a profit of $5 billion in 2010 alone -- equal to more than a quarter of JPMorgan’s net income that year, one former senior executive said.

The shifting role of the CIO group at JPMorgan, which reported record firmwide profit for 2011, underscores how blurry the line can be between “proprietary trading” and hedging, and it highlights the challenge U.S. regulators face in curbing speculative bets by federally backed lenders under the so-called Volcker rule. JPMorgan, whose $2.27 trillion of assets at year- end made it the biggest U.S. bank, says the CIO manages the firm’s risks, with trades like Iksil’s forming a part of that effort.

“It’s a complete tempest in a teapot,” Dimon said on a conference call with investors today after the bank announced first-quarter earnings. “Every bank has a major portfolio and in those portfolios you make investments that you think are wise.”

http://crooksandliars.com/susie-madrak/former-execs-jpmorgan-chase-gambling-

"The Nerve of the GOP always Crying about our 'Children's' future when they themselves have sold it down the River!!!" Bastards!!! =(By Susie Madrak What on earth could possibly go wrong with one of the world's... more