Monthly Archives: April 2011
Danger: Dollar Approaching Fresh New Lows
[youtube:http://www.youtube.com/watch?v=RG0ochx16Dg 450 300]
“The dollar struck its lowest in almost three years against a basket of currencies on Thursday, with market players selling the greenback to buy buoyant risky assets in a move that threatens to drive the dollar index toward its all-time low….The chart outlook for the dollar is looking dire after it tumbled through the 74.17 low touched in November 2009, a move that may spark a run toward the 70.698 all-time low hit in 2008.”
Comments »If Rich Aren’t Paying Their ‘Fair Share’ Then What’s Fair?
“In 2008, the most recent year for which full data is available, the infamous top 1% – those earning over $380,354 – paid 38.02 percent of federal income taxes, according to an analysis of IRS data by the Tax Foundation. Meanwhile, the bottom 50 percent of income earners – the group that, according to the liberal world view, is subsidizing tax handouts to the wealthy – shouldered just 2.7 percent of the federal income tax burden. And keep in mind, in 2008, the higher income earners share of taxes slipped from the previous year’s 40.4 percent due to the economic downturn.”
“When you make this argument to liberals, they’ll often respond that the only reason such a distribution exists is that there’s a lot of income inequality in America. But even if you account for that, the wealthy are paying disproportionately. The top 1 percent, for instance, earned 20 percent of the nation’s adjusted gross income in 2008 – yet their share of the tax burden was nearly twice that. Meanwhile, the bottom 50 percent earned 12.75 percent of the nation’s income, while their share of the tax burden was about one-fifth of that. You can see this demonstrated in the chart below.”
Read the rest here.
Comments »Iran and Iraq May Use Strait of Hormuz Choke Point Against Saudi Arabia
Nigeria and Their Sweet Crude See More Death and Political Unrest
Bahrain Pressure Cooker
How long is too long ? Reports say the people have reached a boiling point over violent opposition to democratic demonstration….
Comments »Fun With Charts
Home value chart shows the swan dive in homer prices and that we are still 10-20% above major support…
Comments »Honeywell International Inc. Earnings: $0.88EPS vs Expectations of $0.82 on Revenues $8.91Bn vs Expectations of $8.64Bn
China Mobile Ltd. Earnings: EPS Up 5.4% at Y26.9Bn on Revenues of Y119Bn
BP Sues Cameron International and Transocean
Asian Markets Open Higher
Markets up close to 1%.
Comments »MLB Seizes the LA Dodgers
Commissioner Bud Selig has “deep concerns” over their finances. Hence, he snatched the Dodgers.
Bring them back to Brooklyn.
Comments »Noble Corporation Earnings: $0.21 EPS on Revenues of $543Mn….Top & Bottom Below Last Q’s Numbers
Western Digital Earnings: $0.62 EPS on Revenues of $2.25Bn
Apple Inc. Earnings: $6.40 vs Expectations of $5.37 on Revenues of $24.67Bn vs Expectations of $23.38Bn
Flash: Apple prelim $6.40 vs $5.37 Thomson Reuters consensus; revs $24.67 mln vs $23.38 bln Thomson Reuters consensus (342.41 +4.55)
Apple sees Q3 EPS of about $5.03 vs $5.25 Thomson Reuters consensus; sees revs of about $23 bln vs $23.83 bln Thomson Reuters consensus
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