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12:13 PM on 05/23/13 
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Zeran
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I think you could semi-privatize the program without taking the security out of SS, but by all accounts it seems all you'd have to do to perpetually fund it is raise the cap so it captures 90% of income again.

Though if we were going to go the route of taxing more to fund it, I'd prefer they found a way to tax upper income more/investment income for it, instead of just raising the cap.
why not do both?
12:16 PM on 05/23/13 
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David87
That guy
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Delaware
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Because it's a flat tax on working people, raising the cap just affects working people more, even if those working people are making 110K a year. I'd like to get as much SS funding from other, more progressive taxes as possible.
12:40 AM on 05/26/13 
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EasySkankin
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Strikers in Dubai Facing Deportation

"Buy American" laws and why they're useless political fodder
Politically, most voters like the idea of U.S. businesses getting a first pass, so Buy America laws are an easy sell. But that goodwill stretches only so far: If Bangladesh produces textiles at rock-bottom prices, it’s hardly logical to spend taxpayer dollars buying far more expensive uniforms simply because they’re made in the U.S. Many states even have laws in place demanding that contracts go to the lowest competent bidder. Which is why, in practice, Buy America laws have so many loopholes. If they had more bite, they’d lose their appeal pretty quickly.


BP, Shell, and Statoil face class-action lawsuit over price fixing

Manufacturing slowdown
Manufacturing slowed for a second straight month in May as weak overseas demand and government belt-tightening at home led to the sector's most sluggish rate of growth since October, a survey showed on Thursday.


Glasner on Bernanke's dismal testimony
The job market, five and a half years after the economy started its downturn, is in a shambles. Inflation is running well below the nominal 2% target, and is expected to remain there for as far as the eye can see. And what is the FOMC preoccupied with? Winding down its asset purchases “in light of incoming information.” The incoming information is clearly saying – no it’s shouting – that the asset purchases ought to be stepped up, not wound down. Does Bernanke believe that, under the current circumstances, an increased rate of inflation would not promote a faster recovery in the job market? If so, on the basis of what economic theory has he arrived at that belief? With inflation persistently below the Fed’s own target, he owes Congress and the American people an explanation of why he believes that faster inflation would not hasten the recovery in employment, and why he and the FOMC are not manifestly in violation of their mandate to promote maximum employment consistent with price stability. But he is obviously unwilling or unable to provide one.

Why did Bernanke scare the markets? Well, maybe, just maybe, it was because his testimony was so obviously incoherent.


Lars Christenson with the historical parralel
The Japanese stock market dropped more than 7% on Thursday and even though we are up 3% this morning there is no doubt that “something” had scared investors.

There are likely numerous reasons for the spike in risk aversion on Thursday, but one reason is probably that investors are getting concerned about the Federal Reserve and the Bank of Japan getting closer to scaling back monetary easing. That has reminded me on what happened in 1937 – when market participants panicked as they started to fear that the Federal Reserve would move prematurely towards monetary tightening – after the US economy had been in recovery since FDR took the US off the gold standard in 1933.

Going into 1937 both US government officials and the Fed officials started to voice concerns about inflationary pressures, which clearly sent a signal to market participants that monetary policy was about to be tightened. That caused the US stock market to slump and sent the US economy back into recession – the famous Recession in the Depression.
10:22 PM on 06/10/13 
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Ferrari333SP
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How corrupt the oil industry is in Russia, specifically with state company "Gazprom" -

http://www.bloomberg.com/news/2013-0...ple-putin.html

Quote:
Analysts at the state-controlled Sberbank (SBER) assess that Gazprom would need $11 billion a year for its gas production, but in 2011 its capital expenditure soared from an originally planned level of $27 billion to $53 billion. It stopped at $43.2 billion last year.
The analysts call this excess expenditure “value destruction,” which is their euphemism for waste and corruption, amounting to $30 billion to $40 billion a year. Investment analysts in Moscow suggest privately that two-thirds of this might be sheer corruption, while the rest is wasteful overinvestment. Corruption at that level may explain the poor management of the company’s official business.
11:10 PM on 06/16/13 
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Jake Gyllenhaal
Sit on Santa's lap
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!!!
11:43 PM on 06/16/13 
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David87
That guy
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Delaware
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lol I thought about doing this earlier. Shit was driving me crazy.
03:10 AM on 06/17/13 
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EasySkankin
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The Economy In Pictures
(Spoiler: We should be uneasy)

PC companies entering the tablet market with cheaper <$200 models for the masses
However, it might backfire and eat into their already declining notebook sales with the lower profit margins.

Five Questions, One Bill Clinton

How the World Bank makes doing business easier
So long as as politics doesn't get too involved
...the World Bank has some pockets of activity that are very helpful to private-sector activity and entrepreneurs, particularly in many of the more troubled economies. One of the most important efforts, the Doing Business indicators, has been under severe pressure of late. The latest indications are that the World Bank will keep these indicators in operation, but there is still a chance that World Bank management will cave in on important details to pressure from influential quarters, including China. The Doing Business indicators measure what is involved in setting up and running a relatively small business in 185 economies around the world.
10:03 PM on 06/20/13 
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dtrzcin
Choose thyself!
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Glass City
Undeclared
Good work
02:59 AM on 06/21/13 
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open mind
bastard on parade
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anchorage
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I swear i'm not working for them, but good, cheap tablets that cost less then $200 are already out.

Occasional input lag and some relatively minor gripes about the OS aside, I'm quite pleased with the 32gig nook hd plus I picked up for $180 a couple days ago.
09:57 AM on 07/28/13 
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EasySkankin
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Pretty insightful read. Hard to argue with, really.
03:09 PM on 07/29/13 
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kwsqd
let our passion bleed
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Pennsylvania
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That's a really interesting article but I don't agree with it. The comments are an interesting read as well. Legalizing insider trading would be a huge mistake... giving up on individual investors is something you just can't do.
10:32 AM on 08/02/13 
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caveBEAR
( ω )
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Tallahassee, FL
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How are birdman's finances doing?
10:32 AM on 08/02/13 
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loveisdead
LGJ
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Long Island
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He just got a new job, no? Probably pretty well.
10:35 AM on 08/02/13 
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caveBEAR
( ω )
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Tallahassee, FL
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Good to hear.
10:38 AM on 08/02/13 
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Mitch
this is water
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Jamaica Plain, MA
Male - 25 Years Old
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Pray to Birdman twice a day, be rewarded with great fortune.



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