NO FAIR. I PAID MORE TAXES THAN THESE GUYS!

[email_link]

General Electric, one of the largest corporations in America, filed a whopping 57,000-page federal tax return earlier this year but didn’t pay taxes on $14 billion in profits. The return, which was filed electronically, would have been 19 feet high if printed out and stacked.

The fact that GE paid no taxes in 2010 was widely reported earlier this year, but the size of its tax return first came to light when House budget committee chairman Paul Ryan (R, Wisc.) made the case for corporate tax reform at a recent townhall meeting. “GE was able to utilize all of these various loopholes, all of these various deductions–it’s legal,” Ryan said. Nine billion dollars of GE’s profits came overseas, outside the jurisdiction of U.S. tax law. GE wasn’t taxed on $5 billion in U.S. profits because it utilized numerous deductions and tax credits, including tax breaks for investments in low-income housing, green energy, research and development, as well as depreciation of property.

Continued

SOURCE: http://www.weeklystandard.com

TRIANGLE SOUTH

[email_link]

The triangle pattern, which had tightened up in the past few days, is now resolving itself to the downside. This is occurring as the all-important semiconductor index looks to be topping. Many past growth leaders look to be completing major tops including the likes of Apple, Bidu, Amazon, Priceline and others. the financials continue to lead down…and in a very bad way. Lastly, the NDX has sliced through the 50 day moving average with the Nasdaq right behind.

I WILL HAVE MUCH MORE IN A BIGGER REPORT TONIGHT AS THE STRONG SEASONALITY AIN’T HAPPENING.

 

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

WHO’S GETTING ALL THE MONEY? I CANNOT WAIT TO READ THIS BOOK!

[email_link]

President John F. Kennedy’s nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official.

It’s just one more in a string of eye-opening revelations by investigative journalist and Breitbart editor Peter Schweizer in his explosive new book, Throw Them All Out.

Continued

SOURCE: http://biggovernment.com

THEY HAVE BEEN CALLING THIS A SUCCESS…

[email_link]

ONLY IN WASHINGTON, DO THEY CALL SOMETHING LIKE THIS A SUCCESS

U.S. boosts estimate of auto bailout losses to $23.6B

The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.’s steep stock decline.

In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion.

The Treasury now pegs the cost of the bailout of GM, Chrysler Group LLC and the auto finance companies at $79.6 billion. It no longer includes $5 billion it set aside to guarantee payments to auto suppliers in 2009.

The big increase is a reflection of the sharp decline in the value of GM’s share price.

The current estimate of losses is based on GM’s Sept. 30 closing price of $20.18, down one-third over the previous quarterly price.

Continued

Source: http://detnews.com/article/20111114/AUTO01/111140434/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B#ixzz1dtwmxkC4

 

11/15/2011: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

[email_link]

http://archives.warpradio.com/btr/InvestorsEdge/111518.mp3

JUST LETTING YOU KNOW…

“...Isn’t amazing that we can sit here and read an article entitled “Lawmakers Mull Making Insider Trading Illegal for Congress...”

“…EVERY ONE OF YOU SHOULD BE WRITING A LETTER, AND SENDING EMAILS AND CALLING INTO WASHINGTON FOR THEM TO BE ON THE SAME FREAK’IN PAGE AS US!…”

“…A few things are starting to stick out for me…”

“…Even though the Dow was up 17, the market was much better than that…”

“…The Russell 2000 was up the equivalent of about 140 Dow Points…”

“…The SEMIs and some growth names were strong…”

“…PLUS, we’re setting up a triangle…”

“…The volatility is heavy in the beginning. It keeps decreasing to the point in the triangle where the market is going to make a move out of the triangle either to the downside or upside…”

“…We’re a day or two away…it’s going to move one way or another…”

“…On top of this — the seasonality of the market…”

“…IN THE LAST 10 YEARS FROM VETERANS DAY TO THE END OF THE YEAR, THE MARKET HAS BEEN UP…”

LISTEN TO GARY LIVE ON WEEKDAYS
6-7 pm EST

Best of Investor’s Edge
Saturdays 1-2 am EST

 

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

I DIDN’T BELIEVE THIS CHART WHEN I SAW IT! I MAY HAVE TO TAKE A FEW MONTHS OFF EVERY YEAR

11 SEASONAL SP500

Source:InvesTech Research, October 21, 2011

Technical and Monetary Investment Analysis, Vol11 Issue 11

TRIANGLES AND SEASONALITY

[email_link]

A few numbers on seasonality:

I have read and verified that the market has been up the past 10 years from Veteran’s day into the end of the year…as well, it has been up the past 22 of 24 years. I cannot ignore these numbers. The reason given is that the boys do everything possible to make their year. Looks like they are pretty good at it.

On top of that, markets are sitting in a very nice triangle pattern here. The midpoint is at about the 1255 S&P area. One good up day takes the market above the triangle. Of course, one bad down day takes you down below the triangle…but with seasonal strength, hoping for the upside. Of course, don’t blink as this remains one of the toughest market environments I have experienced. Resistance remains in the 1250-1280 S&P area…with the financials remaining an anchor while the semis continue to provide some wind.

If seasonality means anything…well, I had better shut up. Just don’t blink as this will remain a news-driven environment.

Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

THE PAYOFFS AND CORRUPTION AT THE TOP NEVER ENDS

[email_link]

Mortgage finance giants Fannie Mae and Freddie Mac received the biggest federal bailout of the financial crisis. And nearly $100 million of those tax dollars went to lucrative pay packages for top executives, filings show.

The top five executives at Fannie Mae received $33.3 million in 2009 and 2010, while the top five at Freddie Mac received $28.1 million. And each company has set pay targets of as much as $17 million for its top managers for 2011.

That’s a total of $95.4 million, which will essentially be coming from taxpayers, who have been keeping the mortgage finance giants alive with regular quarterly cash infusions since the Federal Home Finance Agency (FHFA) took control of the companies in September 2008.

Continued

Source: Fannie, Freddie executives score $100M payday post bailout – Yahoo! Finance

AND THEY WANT TO KNOW WHY BUSINESSES MAY NOT BE HIRING…

[email_link]
A little chart on what small business owners have to deal with in order to comply with the new obabacare tax credit. when I first saw this, I thought it was a joke!
SOURCE: http://danieljmitchell.files.wordpress.com/2011/11/obamacare-tax-credit.jpg

SEEMS LIKE MF IS THE PROPER INITIALS FOR THIS COMPANY

[email_link]

Some incredibly galling behavior on the part of MF Global as exposed by Reuters’ Matthew Goldstein:

It appears that 10 days ago, with speculation swirling that the Jon Corzine-led firm would soon file for bankruptcy, a good number of customers started to put in requests to pull their money from the New York-based outfit. But instead of simply wiring that money back to their customers, it seems MF Global tried to buy some time for itself by sending that money back via snail mail in the form of an old-fashioned check.

This proved to be hugely significant, as the checks have, in many cases, ultimately bounced, now that the company is bankrupt.