3.8 TRILLION IN SPENDING WITH 1.5 TRILLION BEING DEBT AND BLAH BLAH BLAH!

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Seriously…with all due respect…and I mean with all due respect…who are you trying to kid? I heard this same rhetoric they year of my Bar Mitzvah. ‘They will take food off your table…they will take away school lunches…they are against the poor and the downtrodden…blah blah blah! $3.8 TRILLION IN SPENDING WITH 1.5 TRILLION BEING DEBT AND BLAH BLAH BLAH! Read this:

 Obama on the Paul Ryan budget: “We wouldn’t have the capacity to enforce the laws that protect the air we breathe, the water we drink, or the food that we eat. Cuts to the FAA would likely result in more flight cancellations, delays and the complete elimination of air traffic control services in parts of the country. 

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SOURCE: http://www.realclearpolitics.com

YOU KNOW MY GENERAL THOUGHTS ON GROUPON AND THEIR “ACCOUNTING” TROUBLES

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…others agreeing. Read this:

The daily-deals firm now has restated its financial results multiple times in less than a year, this latest instance coming just four months after Groupon first sold shares to the public.

This restatement came with a warning from auditors Ernst & Young about the company’s lax accounting processes — a warning that should come as no surprise to anyone who’s made a close reading of its financial statements…

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SOURCE: http://www.marketwatch.com

THE SAME OLD SCARE TACTICS!

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Vice President Biden Monday suggested Republicans favored low taxes for the wealthy over policies that would save the lives of police officers and firefighters.

Biden spoke at a dinnertime gathering at his official Washington residence, where he hosted more than 100 federal, state and local police officers and firefighters.

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SOURCE: http://www.whitehousedossier.com

WHY THE HEDGE FUND WORLD LOVED OBAMA IN 2008–AND VISCERALLY DESPISES HIM TODAY

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In May 2007, when Barack Obama was but an upstart challenger of Hillary Clinton, he attended a gathering of several dozen hedge fund managers hosted by Goldman Sachs at the Museum of Modern Art in New York. It was not a fund-raiser, just a chance for Obama to introduce himself to the investment wizards who had helped turn the hedge fund sector into the most lucrative and alluring corner of the financial universe. And the first question for Obama was as blunt as one would expect from this crowd. “If you’re elected president,” asked one guest, “what will you do to the taxes on the people in this room?” 

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SOURCE: http://www.tnr.com

THE MEDIA’S FOREHEADS WOULD HAVE VEINS POPPING IF THIS WAS UNDER GEORGE BUSH

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Just an unbelievable waste of taxpayer dollars yet this President complains about $4 billion in subsidies to oil companies that actually provide something. Read this:

In keeping with the recent trend of so-called green companies going into the red, another solar energy company supported by President Obama’s top administration officials declared bankruptcy today.

Solar Trust for America received $2.1 billion in conditional loan guarantees  from the Department of Energy — “the largest amount ever offered to a solar project, “according to Energy Secretary Steven Chu — for a project near Blythe, Calif., but declared bankruptcy within a year. It is unclear how much of the guarantee, if any, was actually awarded.

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SOURCE: http://campaign2012.washingtonexaminer.com

WE NEED MORE OF THESE FORENSIC INVESTIGATORS

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Sherlock Holmes is back. We’re not talking Robert Downey Jr., but rather Howard Schilit, 60, arguably America’s pre-eminent forensic accountant.

The author of the best-selling Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud in Financial Reports has returned from a five-year retirement. In the booming stock market of the 1990s and early 2000s, Schilit was instrumental in bringing home the importance of forensic accounting to institutional investors. He founded the Center for Financial Research & Analysis in 1994, which sold and published research aimed at uncovering accounting anomalies. Thanks mainly to Schilit’s efforts, such analysis is now widely used by the financial community.

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SOURCE: http://online.barrons.com

A GREAT CHART WORTH NOTING!

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SOURCE: http://www.bloomberg.com

OLD PHONES DIE A QUICK DEATH

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I think its time to coin a new term for the smatphones and in fact all mobile phone ‘handsets’ industry about the biggest danger in this industry? The Cliff. The sudden comprehensive collapse of the business. Why does this happen in mobile and at rates – I mean the speed in terms of timing of the collapse – never seen in any other industry.

CASES

Lets take a few case studies. What am I talking about. First, lets go to all phones, and ten years back. For the end of 2001, Siemens had 7% market share in mobile phone handsets. They had held a reasonably steady top 5 position for many years. Its a bit like LG has been recently. And what happend? They suddenly fell off a cliff. By 2003 their market share was half, and two years later, half again, and they quit the business (the Siemens handset business was sold to BenQ of China).

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SOURCE: http://communities-dominate.blogs.com

OVER $15 TRILLION IN DEBT AND THIS YUTZ IS HAPPY ABOUT IT…AND HE IS A NOBEL ECONOMIST!

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“The boom, not the slump, is the right time for austerity at the Treasury.” So declared John Maynard Keynes in 1937, even as F.D.R. was about to prove him right by trying to balance the budget too soon, sending the United States economy — which had been steadily recovering up to that point — into a severe recession. Slashing government spending in a depressed economy depresses the economy further; austerity should wait until a strong recovery is well under way.

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SOURCE: http://www.nytimes.com

SPECIAL NOTE: Be sure to register now for Gary Kaltbaum’s next live Webinar on Saturday January 21, 2012. He will talk about the important implications of early-January’s market action…and much more.  Click here for more information

IT’S ABOUT TIME TAXPAYERS DID NOT HAVE TO SUBSIDIZE ETHANOL

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Washington —The United States has ended a 30-year tax subsidy for corn-based ethanol that cost taxpayers $6 billion annually, and ended a tariff on imported Brazilian ethanol.

Congress adjourned for the year on Friday, failing to extend the tax break that’s drawn a wide variety of critics on Capitol Hill, including Sens. Tom Coburn, R-Okla., and Dianne Feinstein, D-Calif. Critics also have included environmentalists, frozen food producers, ranchers and others.

The policies have helped shift millions of tons of corn from feedlots, dinner tables and other products into gas tanks.

Environmental group Friends of the Earth praised the move.

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SOURCE: http://www.detroitnews.com