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Okay folks– just for the sheer sake of jumpstarting your nervous system today. Read this report. I promise you that in it you will discover one sentence that will make you pause your breath for a second– and then you will think “ How did I not already figure that was coming”. What a deal folks, what a deal!!!!!!!!!!!
European Stocks Climbfor Sixth Day; BMW, BP Shares Advance
July 13, 2010, 12:14 PM EDT
July 13 (Bloomberg) — European stocks climbed for a sixth day to a three-week high as Alcoa Inc. began the U.S. earnings season with profit that beat estimates, Bayerische Motoren Werke AG raised its forecast and BP Plc gained.
BMW, the world’s biggest maker of luxury cars, jumped the most in 15 months after saying higher volumes in 2010 will boost profit. BP increased 2.9 percent after installing a new cap on its leaking oil well in the Gulf of Mexico and as Abu Dhabi said it’s considering making an investment in the company.
The Stoxx Europe 600 Index advanced 1.9 percent to 255.99, erasing this year’s losses. The measure has risen 8.2 percent over the past six days amid easing concern about the economic recovery and speculation that the selloff in equities since April has overshot the outlook for company profits. The gauge remains 5.9 percent below this year’s high.
Earnings “forecasts look too low and we expect a strong majority of companies to beat their numbers,” said Graham Bishop, the London-based head of pan-European equity strategy at Royal Bank of Scotland Group Plc. “We already know a great deal about the performance of the global economy through the second quarter. Consensus economic forecasts have actually been revised materially higher.”
Portugal’s PSI-20 Index was the second-weakest western European market today as Moody’s Investors Service cut the nation’s credit rating by two notches to A1 because of a growing debt burden and weak economic growth prospects. The gauge gained 0.1 percent, while the U.K.’s FTSE 100 and France’s CAC 40 surged 2 percent. Germany’s DAX rallied 1.9 percent.
Greek Bond Sale
Greece’s ASE Index surged 2.6 percent as the nation sold 1.63 billion euros ($2.1 billion) of 26-week Treasury bills at a rate below the 5 percent charged by the European Union for its bailout package, easing concern the country faces punitive costs to borrow.
BMW rallied 8.3 percent to 42.13 euros, leading a gauge of auto stocks to the biggest gain among 19 industry groups in the Stoxx 600. The luxury-car maker forecast 2010 sales volumes will rise by about 10 percent to more than 1.4 million units, with a full-year profit margin of more than 5 percent expected for the automobiles segment. Rival Daimler AG advanced 5.4 percent to 43.81 euros.
Automakers Advance
Peugeot SA climbed 5.3 percent to 24.37 euros and Volkswagen AG preferred shares gained 5.2 percent to 77 euros. JPMorgan Chase & Co. raised its price estimate on the French carmaker by 3 percent to 34 euros and on the German automaker by 4 percent to 78 euros, saying increased demand and “attractive valuations” favor the industry, according to a report today.
BP advanced 2.9 percent to 410.35 pence, extending yesterday’s 9.4 percent jump. The oil company installed a new cap on its leaking Gulf of Mexico well and will start testing today whether this will stop the gusher while work continues on a permanent plug. Separately, the Financial Times reported that BP expects to be able to write off the oil-spill cleanup costs against taxes, without saying where it got its information.
Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan said the emirate is considering making an investment in BP.
‘Still Thinking’
“We are still thinking about it,” he said in an interview in Abu Dhabi today, when asked about potentially buying a stake in the London-based oil producer. “We are looking across the board. We have been partners with BP for years.”
Alcoa, the largest U.S. aluminum producer reported second- quarter profit that topped analysts’ projections as higher metal prices boosted sales. Earnings from continuing operations were 13 cents a share, exceeding the 11-cent average estimate of 17 analysts surveyed by Bloomberg.
Profits for S&P 500 companies are projected to have increased 34 percent in the second quarter and by the same amount in 2010, according to analysts’ estimates compiled by Bloomberg. Intel Corp., the biggest maker of semiconductors which reports quarterly earnings after the close of U.S. exchanges today, is among 23 companies in the index to announce results this week.
Burberry Group Plc surged 3.7 percent to 818.5 pence, the highest level since at least 2002. The U.K.’s largest luxury retailer posted a 27 percent gain in first-quarter sales, beating analysts’ estimates, led by growth in Asia and deliveries to wholesale customers.
Unilever, BAT
Unilever, the world’s second-largest maker of consumer products, gained 2.9 percent to 1,898 pence and British American Tobacco Plc advanced 2.6 percent to 2,277 pence as Goldman Sachs Group Inc. upgraded both companies to “buy” from “neutral.”
SEB AB surged 4.9 percent to 48.75 kronor after the second- largest bank in the Baltic countries returned to profit in the second quarter as loan losses in Estonia, Latvia and Lithuania decreased.
DNO International ASA rallied 4.9 percent to 8.74 kroner, the highest close since April, after the Daily Telegraph reported that RAK Petroleum Pcl has made an offer to buy the remainder of the Norwegian oil producer. DNO Chief Executive Officer Helge Eide said he had “no comment and no information” on the report.
–Editors: Andrew Rummer, David Merritt.
All posts are opinions meant to foster comment, reporting, teaching & study under the “fair use doctrine” in Sec. 107 of U.S. Code Title 17. No statement of fact is made or should be implied. Ads appearing on this blog are solely the product of the advertiser and do not necessarily reflect the opinions of BuehlahMan’s Redstate Revolt or WordPress.com
Ya know– I hate ‘sound-bites’ and I sure am wise enough to know when I end up listening to something in pieces, that I do not nor will I ever have the entire history regarding anything that I just heard. Now– I do know the following–
1] This woman was in control of the call and dialoge
2] I do not believe he knew it was being taped
3] She said what she wanted said on the tape
4] If we taped anyone of us during a domestic tyrate it would not be pretty
5] He sounds like every Biker [sorry bikers] I ever knew
6] IF domestic violence did happen, he is wrong– flat out wrong
7] I am not a shrink, so there can be no diagnosis from me while I sit in my armcahir
8] I have used almost every word he used at one time in my life
9] I actually don’t think this tape is any of our business
10] Obviously he is out of control about something way past what we are aware of… in their life together
11]… He should never ever hit nor threated to put her [or anyone] under.
12] Can anyone one of us look back honestly in our own lives and say that we or someone we knew had never ever gotten into a heated screaming match? Would you want it recorded for all to hear out of contents??
AGAIN== Mel is wrong with his rage and violence… I am just speaking to the ‘taping’.
The media is having a hayday with this… Mel needs help, counceling…. something. And she needs to just do what she has to do in court, get to court and settle whatever she wants to settle– but ya know, somewhere in the nasty oh-so-wrong shit is a bid for money– and tons of it. I am not saying Mel didn’t do terrible stuff, he most likely sure as hell did– but I am just not excusing her or the media on this one either. The Radar Online folks stated that she personally did not give them the tapes. I am sure she sure as hell had a hand in it– she needed public outrage, or so she thinks. Screw this mess… I want to hear the well is capped and the clean-up is going well, and the troops are coming home [which will add to millions of more unemployed Americans because WHERE ARE OUR TROOPS GONNA WORK?? So there ya have it– this story is not a news worthy story!!! Jobs, Troops, Wars, Unemploymeny, healthcare, enviornment are true stories!!!
All posts are opinions meant to foster comment, reporting, teaching & study under the “fair use doctrine” in Sec. 107 of U.S. Code Title 17. No statement of fact is made or should be implied. Ads appearing on this blog are solely the product of the advertiser and do not necessarily reflect the opinions of BuehlahMan’s Redstate Revolt or WordPress.com
Topic: People on welfare using their State Aid Debit Cards at Casinos!
When Times readers heard about Thursday’s front-page story by Jack Dolan that California welfare recipients can go to more than half of the state’s casinos and gaming rooms to get cash from state-issued EBT cards, they were royally flushed with anger, despite assurances from Gov. Arnold Schwarzenegger that this practice will soon cease.
tocono asked:
Why are these cards functional at ATMs anyway? They should limit their use only to points-of purchase, and then only to grocery and discount clothing stores. Why should they be able to convert food and clothing benefits into cash? Utterly ridiculous!!!!
beachgirl 61 said:
The sooner it is blocked the better, too. It’s bad enough you can use the welfare cards at places like 7-11 to buy junk foods. They should be ONLY for proper grocery items in proper grocery stores!
sniffy_likes didn’t like the news said:
Man, I try to think of myself as a progressive person, who believes that there needs to be a means to make sure that children in our state don’t go hungry, but when I hear of stories like this I cringe. I’m a technophobe, so I don’t even know if its possible, but if there is any possible way to trace which recipients did use these cards in casino’s, I think they should have their benefits suspended, and let them think about their actions and how it hurt their children.
Howdyfromtexas added this:
They charge from 6- 10 dollars per transaction at most the machines. Some charge a percentage. I think the tax payers deserve those fees refunded.
southoc has a solution:
Until California has money again there should be no welfare other than birthcontrol and prisons.
Are these suggestions reasonable to you? How should we handle benefits being distributed through ATMs?
Lrose48: I think instead of ATM cards… they should get prepaid utilities/rent etc mailed to their landlords, etc. And they need commodity coupons. Food, gas, etc… hell– I can’t go to a casino! How can they afford this and Maybe the card should be coded to only beable to be used at atms at gas stations, or something. I don’t know… but why do they even get a free accountant and bookeeper! It all pisses me off!!
I watched the report on this on BBC. This camp is empty because AGAIN the haitian Government is elitist and corrupt. The ‘weathly’ folks who used to live in fine Starter-Castles and McMansions said they wouldn’t live there. And AFTER the USA donated these tents, bathrooms, watering stations etc.. the Haitian government built this camp for the RICH folks who will not live there. They demand the government TEAR THEM DOWN and build them their big homes again on that level land!!! Meanwhile, starving poor folks who have nothing are across the road in a slum camp seeing this camp and are not allowed there. I tell you what, I think the poor folk need to revolt!! and march their starved asses over to the new camp… and squat. Ok I know, they would most likely be killed… but damn it this makes me so friggin mad. THIS IS EXACTLY wtf has been wrong in haiti all along. Its not that other countries haven’t helped… but their government keeps the donations and goods for the upper elite [as if they are really classey folk! ]… geeeece.
Many folks have remarked that they think this is all Muslim backed… how about 1] At least our President can read 2] he is reading a book openly not appearing to hide it. God forbid!
The power of one!
Granny not only walked across America for Campaign Reform– she stayed actively involved staying on-top of things in Washington. She passed this week– I hope her spirit stays alive within us all to keep being watch-dogs!Her legendary 3200 mile, 2 year walk across the country at 90 years of age raised awareness about campaign finance reform and resulted in the passage of the Mccain-Feingold Bill
The Massachusetts election Tuesday was the last one conducted under rules that had been in place for over a century to protect the right of the people to choose their government free from enormous expenditures of corporate wealth. Next time voters want to send us a message at the ballot box, they may find their voices drowned out by wealthy corporations with their own special-interest agendas.
This Supreme Court decision takes us back a century to a legal framework that fostered a golden era of corporate influence. While the core of the McCain-Feingold law, the ban on unlimited “soft money” contributions by corporations, unions and wealthy individuals directly to the political parties remains intact for now, the reasoning of this decision undermines the foundation of a host of laws enacted to strengthen our democracy and curb corruption in government. Indeed, the soft-money ban could very well be the next target of those who want to see our political system dominated by corporate influence.
This decision gives a green light to corporations to unleash their massive coffers on the political system. The profits of Fortune 500 companies in 2008 alone were 350 times the entire amount spent on the last presidential election.
Oil companies, with virtually no harm to their balance sheets, can now try to “take out” members of Congress who don’t toe their company line on energy policy. Foreign-owned companies–even those owned and controlled by other governments are free to underwrite the candidates of their choice.
Because of the scope of the Citizens United decision, it will take close examination to see what can be done to restore the voice of the average citizen in elections. We must not stand by as corporations threaten to dominate our democratic process. If the race in Massachusetts showed us anything, it’s the power of voters. In our democracy, that power not the power of corporate wealth should decide our elections.
WASHINGTON (Reuters) – President Barack Obama complained about “fat-cat bankers” and sharply criticized Wall Street banks for paying out big bonuses to executives in a television interview to air on Sunday.
Obama, who has taken some heat from Americans for supporting a Wall Street bailout, told CBS’ “60 Minutes” banks do not understand how angry people are with them.
“I did not run for office to be helping out a bunch of fat cat bankers on Wall Street,” Obama said.
cont at link…
So, when you read something like that, Mr ObamaManiac, what comes to mind? That he is doing the best he can and he will take these bankers to task for what they have done? Or, do you think that like everything else that comes from this shell of a man, he is lying?
My lil ole Mama has always said, “Actions speak louder than words“. Take a look at this action:
Do you REALLY think that he meant what he said? Remember when he said this about having Lobbyists in his administration?
Or any number of things to convince you to vote for him, like the gullible Two-Party Sheople you have become.
In the case of financial focus, he began the campaign with a couple of folks who were critical of Wall Street, but what happened after his election? Matt Taibbi explained it in his article, “Obama’s Big Sellout“:
But come November 5th, both were banished from Obama’s inner circle — and replaced with a group of Wall Street bankers. Leading the search for the president’s new economic team was his close friend and Harvard Law classmate Michael Froman, a high-ranking executive at Citigroup. During the campaign, Froman had emerged as one of Obama’s biggest fundraisers, bundling $200,000 in contributions and introducing the candidate to a host of heavy hitters — chief among them his mentor Bob Rubin, the former co-chairman of Goldman Sachs who served as Treasury secretary under Bill Clinton. Froman had served as chief of staff to Rubin at Treasury, and had followed his boss when Rubin left the Clinton administration to serve as a senior counselor to Citigroup (a massive new financial conglomerate created by deregulatory moves pushed through by Rubin himself).
Incredibly, Froman did not resign from the bank when he went to work for Obama: He remained in the employ of Citigroup for two more months, even as he helped appoint the very people who would shape the future of his own firm. And to help him pick Obama’s economic team, Froman brought in none other than Jamie Rubin who happens to be Bob Rubin’s son. At the time, Jamie’s dad was still earning roughly $15 million a year working for Citigroup, which was in the midst of a collapse brought on in part because Rubin had pushed the bank to invest heavily in mortgage-backed CDOs and other risky instruments.
Now here’s where it gets really interesting. It’s three weeks after the election. You have a lame-duck president in George W. Bush — still nominally in charge, but in reality already halfway to the golf-and-O’Doul’s portion of his career and more than happy to vacate the scene. Left to deal with the still-reeling economy are lame-duck Treasury Secretary Henry Paulson, a former head of Goldman Sachs, and New York Fed chief Timothy Geithner, who served under Bob Rubin in the Clinton White House. Running Obama’s economic team are a still-employed Citigroup executive and the son of another Citigroup executive, who himself joined Obama’s transition team that same month.
So on November 23rd, 2008, a deal is announced in which the government will bail out Rubin’s messes at Citigroup with a massive buffet of taxpayer-funded cash and guarantees. It is a terrible deal for the government, almost universally panned by all serious economists, an outrage to anyone who pays taxes. Under the deal, the bank gets $20 billion in cash, on top of the $25 billion it had already received just weeks before as part of the Troubled Asset Relief Program. But that’s just the appetizer. The government also agrees to charge taxpayers for up to $277 billion in losses on troubled Citi assets, many of them those toxic CDOs that Rubin had pushed Citi to invest in. No Citi executives are replaced, and few restrictions are placed on their compensation. It’s the sweetheart deal of the century, putting generations of working-stiff taxpayers on the hook to pay off Bob Rubin’s fuck-up-rich tenure at Citi. “If you had any doubts at all about the primacy of Wall Street over Main Street,” former labor secretary Robert Reich declares when the bailout is announced, “your doubts should be laid to rest.”
It is bad enough that one of Bob Rubin’s former protégés from the Clinton years, the New York Fed chief Geithner, is intimately involved in the negotiations, which unsurprisingly leave the Federal Reserve massively exposed to future Citi losses. But the real stunner comes only hours after the bailout deal is struck, when the Obama transition team makes a cheerful announcement: Timothy Geithner is going to be Barack Obama’s Treasury secretary!
Geithner, in other words, is hired to head the U.S. Treasury by an executive from Citigroup — Michael Froman — before the ink is even dry on a massive government giveaway to Citigroup that Geithner himself was instrumental in delivering. In the annals of brazen political swindles, this one has to go in the all-time Fuck-the-Optics Hall of Fame.
Wall Street loved the Citi bailout and the Geithner nomination so much that the Dow immediately posted its biggest two-day jump since 1987, rising 11.8 percent. Citi shares jumped 58 percent in a single day, and JP Morgan Chase, Merrill Lynch and Morgan Stanley soared more than 20 percent, as Wall Street embraced the news that the government’s bailout generosity would not die with George W. Bush and Hank Paulson.
Isn’t it funny how it all works out for the bankers? Or how what actually happened (the ACTION) is so very different from the WORDS.
I dunno ’bout you, but they call that “lying” down in these parts. Or worse. Thievery. But if your gullible blood isn’t boiling just yet, listen to the interview with Matt for the whole picture of how we were duped into “hope” for “change” when there was never any intention of that, whatsoever.
Pissed yet? Mr Obama is “telling” you how pissed he is at these guys, yet he takes them into his administration to form and carry out the current debacle that has ONLY benefited the ones he is now using harsh words on. Yeah, he is really upset. So much so that he took more money from them than any other politician last election cycle.
I don’t pretend to understand Afghanistan, but I do know it’s a big, poor, backward Islamic country in Central Asia with all sorts of warring factions that have been at it for decades, or even centuries. I know that American soldiers have been fighting there for eight years and that the situation is still a huge mess.
And now President Barack Obama, after sending 21,000 more soldiers to Afghanistan in March, is set to announce next week that he’s going to send over another 30,000 or so, which will bring the total number of US troops in that big, poor, backward, bewildering, violent Islamic country to about 100,000.
I don’t know much about Afghanistan, but I’m pretty familiar with America, familiar enough to know that America is not up for this. I don’t know if it’s possible to pacify Afghanistan – or Pakistan, Iraq, Iran or anyplace else in the region. I don’t know if this can be done even with millions of American troops fighting for 100 years.
But I do know, as I think everyone knows or should know, that America is not ready to fight Islamism like it fought Nazism and Communism, which means that in its wars in the Middle East, America is destined to lose. The only question is how long these futile adventures will last.
Actually, America fought one war in the Middle East that was not seemingly futile, not at all – the one in 1991 against Iraq. That was a “necessary war,” to use Obama’s term for the mess in Afghanistan. Back then, Saddam Hussein invaded an American-allied country, he electrified the entire Middle East, he was bidding for control, direct or indirect, over two-thirds of the world’s oil – he had to be stopped and turned back.
So president George H.W. Bush set a very clear, reasonable goal – forcing Saddam out of Kuwait – then sent half a million soldiers to do the job, accomplished it in six weeks with minimal allied casualties, then brought the troops home, leaving Saddam and Saddamism in ruins. That was a so called “good war.” But Afghanistan? After 9/11, the Americans should have retaliated by carpet bombing select areas of that country, killing tens of thousands of people, terrorists and civilians both, to let al-Qaida, the Taliban and everyone in the Islamic world know that there is a terrible price to pay for attacking America and killing 3,000 innocents.
Instead, America decided to “transform” the region. The result is that another 5,000 Americans have been killed, soldiers this time, bombs are still going off every which way in Iraq, and now a new president, this one a liberal Democrat, not a Republican neocon, is driving deeper and deeper into Afghanistan.
And what about Pakistan? And Iran? Are they next? “All options are on the table,” says Obama.
AMERICA’S PROBLEM is that it still wants to be a military superpower but is no longer willing to pay the price in blood and money, so it tries to do it on the cheap and as painlessly as possible, and winds up fighting endless wars with impossible goals in distant, hellish places.
If the US were serious about taking on a military challenge of this scope, it would reinstate the draft. This isn’t Grenada they’re dealing with, this is an enemy with outposts across the Middle East, and parts of Africa too. And the US means to go to war against this enemy with a volunteer army that’s drawn from less than 1 percent of American families!
“The problem in this country with this issue [of Afghanistan],” said Democratic Congressman David Obey, “is that the only people who have to sacrifice are military families, and they’ve had to go to the well again and again and again and again, and everybody else is blithely unaffected by the war.”
The American people won’t stand for a military draft; it’s a taboo subject . They won’t even stand for a war tax; that’s another taboo. But neither will they stand for the idea that America is not a military superpower anymore. And nobody in that country, not even the messiah of change, has the guts to tell them that they can’t have it both ways.
So the US pretends it can fight World War III like Grenada, its army is so far beyond overextended that there isn’t a word for it, the country spends more and more billions of dollars that it doesn’t have, and this has been going on now for almost a decade.
At this point, is anybody confident that if and when the US gets out of Iraq, after all these years of horror and devastation, it will leave behind a stable, decent, more or less pro-American country?
Is anybody confident of such a happy end to the war in Afghanistan?
I don’t think so. I think if America knew right after 9/11 what it knows now, there is no way on earth it would have started these wars.
But now Obama wants more – not because he believes he can salvage the situation in Afghanistan, but because he’s afraid of what will happen if he abandons it to the likes of al-Qaida and the Taliban. Which is a very legitimate worry. I worry about that too.
But the only way the US can salvage Afghanistan, or Iraq, or Pakistan, or Iran, or any country in the Muslim world, is to fight like it fought every other major war in its history – with a draft, with war taxes, with a clear, reasonable goal and the readiness to pursue it to the end.
Is America up for that today? No, it’s not, I’m happy to say, because, like I said, even millions of American soldiers fighting for 100 years might not be enough to neutralize the threat of Islamism.
It’s fight or flight, which means the only choice left is flight. The US is not a military superpower anymore, and it’s just hurting itself and a lot of other people by pretending.
The time has come for America to wrap up these endless, failed third world wars.
It’s not going to be easy. And the worst part is that after Obama deepens America’s commitment with 30,000 new soldiers, getting out is going to be even harder.
Barack Obama was elected on 4 November 2008 after a campaign that promised change.
One year on, BBC’s Newsbeat traveled across the country to find out how people feel in Obama’s America.
In the first of five reports, Jonathan Blake travels to Tennessee where unemployment is highest among young people to see how he’s trying to fix the economy.
Just think. If you had raised enough money for his election/bamboozlement campaign you may have a job now, instead of being laid off and forced to accept lesser wages and no insurance coverage.
President Obama’s picks for the new American ambassadors to the Bahamas, Canada and South Africa will not only share a new job title, but they have all shared a role raising funds for Obama’s presidential campaign. Donald Gips, the nominee to serve as ambassador to South Africa, bundled at least $500,000 for Obama’s presidential run. Nicole Avant, the nominee for the ambassador post in the Bahamas, also bundled at least half a million. David Jacobson, the nominee for the ambassador to Canada, brought in between $50,000 and $100,000.
U.S. presidents have long rewarded big campaign donors, fundraisers and other loyalists with ambassadorships, and Obama looks to be continuing that tradition. As we reported last week, half of the ambassadors he named at that time were big donors and bundlers. This week, Obama adds three more to a list that is likely to keep growing.
BuelahMan
Lynda
drduhgylie
ConspiracyDude
TINMA
