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Stop Hating on the IRS
Found on Slate Magazine - Moneybox on Tue 21st May 13
As Apple CEO Tim Cook deftly parried attacks on his company for avoiding paying billions in taxes before Congress Tuesday, we could be forgiven for heaving a collective sigh, part resignation and part resentment. Of course the big fish get away with tax shenanigans
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Jamie Dimon Pretty Happy He Didnt Fire Off That Resignation Letter Last Night After His Second Bottle Of Wine
Found on Dealbreaker on Tue 21st May 13
He said he was going to quit if stripped of the chairman role, and god damn it, he meant it but luckily: 1. It did not come to that and 2. He got distracted watching that Harlem Shake video Lloyd sent him and fell down a rabbit’s hole of different versions
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Stocks at record high in US, highest since 2008 in Japan
Found on The Skeptical Speculator on Tue 21st May 13
After a one-day pause, the US stock market resumed its advance on Friday. The S&P 500 rose 1.0 percent to a new record high even as the US dollar rose 0.8 percent to its highest level since July 2010. Positive economic data on Friday helped boost markets.US
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SAC Capital Will No Longer Provide Investors With Updates On Its Unconditional Cooperation With The Governments Investigation, Which Oh, By The Way, Aint So Unconditional Anymore
Found on Dealbreaker on Tue 21st May 13
SAC Capital Advisors, the hedge fund owned by the billionaire investor Steven A. Cohen, told its investors on Friday that it was no longer cooperating unconditionally with the governments insider trading investigation. In the past we have tried to be as transparent
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Philly Fed: State Coincident Indexes increased in 45 States in April
Found on Calculated Risk on Tue 21st May 13
From the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for April 2013. In the past month, the indexes increased in 45 states, decreased in four states, and remained stable in one (Minnesota), for
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Ryan Avent: "Mr Cowen's posts, and many other like them by other authors, sometimes look like elaborate efforts to avoid concluding that German inflation-phobia, while totally understandable and rational, looks like a grave moral error in the current econ
Found on Grasping Reality with Both Hands: Economist Brad DeLong's Fair, Balanced, and Reality-Based Semi-Daily Journal on Tue 21st May 13
Ryan Avent watches Karl Smith remind Tyler Cowen that people respond to market prices, and piles on himself:The euro crisis: Der Elefant im Raum: TYLER COWEN writes on the euro-zone economy:Would the new helicopter drop money be kept in periphery banks and
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Smart Reads May 21, 2013
Found on Tech Blog on Tue 21st May 13
Tim Cook faces a grilling by the US Senate committee after a report on Apple’s international tax structure accused the company of using Irish subsidiaries that are not tax residents of any country to avoid paying billions of dollars in tax. Although Ireland’s
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Richard Epstein on the IRS Scandal
Found on The Future of Capitalism :: Writings on Tue 21st May 13
Libertarian law professor Richard Epstein writes about the IRS scandal: The dismal performance of the IRS is but a symptom of a much larger disease which has taken root in the charters of many of the major administrative agencies in the United States
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The Chicago Fed National Activity Index: April 2013
Found on Calculated Risk on Tue 21st May 13
The latest release of the Chicago Federal Reserve National Activity Index (CFNAI) indicated worsening for the national economy with the index falling to a weak level of -0.53 from a level of -0.23 in March while the three month moving average declined to a
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The S&P 500 Enters a Post-Transition Period
Found on The Bonddad Blog on Tue 21st May 13
You have to admit - we were right. Last week was indeed a big week for the S&P 500! From Monday, 13 May 2013 to Friday, 17 May 2013, the S&P 500 rose by nearly 2%, or 32.35 points, from 1630.77 to a new record high of 1666.12. Over half the gain for
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