Wow, I was gone for two business days and so much has occurred. The Panama Papers were released, exposing corrupt leaders and politicians of their money washing depravity. I will need to dive in deep into those documents in order to find some worthwhile news.
Bossman Secretary Lew is putting the smack down on the fuckers who pursue tax inversions. This is significant news and it bodes poorly for the companies who are trying to lie and cheat the American public.
Allergen is swooning lower on the news.
Stocks closed very weak today, led lower by crude. I do believe crude will collapse at some point during 2016. I hope to be short when it happens.
In all, I feel invigorated and ready to get back into the mix.
Thanks to the iBC crew for filling in for me today. You did a great job, as always.
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Corbett did a good vid “What I Learned From The Panama Papers” https://youtu.be/A3uCs7ebHTI
Good link, Thanks
Crude will be cornholed so bad it will spontaneously convert into ethanol.
Hedge funds have been shoveling their longs out the back door for a week now.
You really have to go to the official Panama Papers Website. THEY have a GAME to play to help people understand it. ROFL. Anyway, Welcome back Fly! Suga in Japan is trying to stop the move up in the Yen..no way to do that…Kyle Bass Moment.
Video link is 86
http://www.nasdaq.com/article/sec-wraps-up-investigation-into-caterpillar-parts-business-20160216-01228
“…profit from the sales was assigned to CSARL in Switzerland, effectively eliminating Caterpillar’s U.S. operations from the transactions and lowering the company’s U.S. taxes, according to the report.
The report said Caterpillar saved at least $2.4 billion in taxes since the strategy was developed in the late 1990s.”
Of course the SEC didn’t find anything because they couldn’t find their ass with both hands. Perhaps IRS/Treasury will have better luck. Proprietary parts typically have at minimum a 100% markup and that can easily run much higher depending on the part. That’s a mega-profit center for CAT.