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Mr Pink Is Back: Dan Loeb Joins Steve Wynn, Launches All Out Attack On Classwarfaremongerer-In-Chief
Ah, it sure is good to have good old Mr. Pink back "The budget is not the only thing in deficit today, as a paucity of leadership has left the country without a stable framework in which businesses can conduct business, investors can invest, and consumers can consume without a high degree of uncertainty and fear. Politically charged statements and brinkmanship have served to deepen divisiveness between the parties and led to confusion and fear among citizens. There has been much said about who is allegedly the "adult in the room," but President Obama has yet to speak to Americans as adults, insisting instead on his preferred technique - stirring up class warfare. Scaring senior citizens about the possibility of not receiving their Social Security and Medicare checks, lambasting the corporate jet industry, and calling for higher taxes on managers of private partnerships is not a constructive approach to handling a complex multi-trillion dollar problem that will have a multi-generational impact." Read on below.
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CME Raises Margin Requirements On Treasuries, Effective COB Today.
ruhroh...this isn't good.
This may explain the weakness on bank stocks. Genuinely, this could lead to big problems in the swaps market...
Systemic risk, bitchez.
Listen, remember when I was ranting about how ridiculous the EuroMeet on Friday was, whereby Merkel & Sarkozy were puffing out their chests/breasts and proclaiming they would not let a single EU Member default on their debt?
Well, the damndest things have happened since (i.e. in less than one trading day).
Greece has now effectively defaulted on some portion of its debt, and Portugal will soon follow (and Spain, then Italy will follow them).
And, oh yeah, the reason this is especially funny is that the "weakest link" in the AAA Euro chain is now officially France:
Analysis: France weakest link in the euro's AAA chain | ReutersAnyways, aside from things such as rampant euro printing, which is now underway, and QE2 officially launched in Britain soon (presumably using the pound as the lubricant of choice), it's highly amusing that France is one of the two "pillars" that will spare EU Members from default, as their own economy and debt realities only begin to start frightening those who care to look under their hood (and frightened they should be).
THE FED
Amazing Merkel is so stupid she does not pull Germany outm of this debacle before she DESTROYS one of the only remaining working economies left on the GLOBE.
And I am not German.
Wow. France. Just the mention of the word "austerity" in France and they'll burn the place down. They have a lot further to go than even the U. S. It would not be pretty.
Mr. Pink, meet Mr. Black. Mr. Black, Mr. Pink.
http://en.wikipedia.org/wiki/Reservoir_Dogs
That's actually Mr. White (standing).
good one, CD.... see if you can find one with two douche-bags facing off, each with a gun to his own head.... lulz. Maybe not apprpos here, but surely on some thread somewhere. Eureka: hey wmbanzai....Boner v Obummer
Broke! TenFacts About The Financial Condition Of American Families That Will Blow Your Mind...
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/07/broke-10-fact...
OT: Hilarious 2 Min Vid...
http://www.youtube.com/watch?v=W0Uju3tYS2s
There they go again - more war on class warfare.
I hate people who constantly complain.
It only shows that they are weak and unable to perform.
AMERIKA! YOUR LAST 4 PRESIDENTS SUCKED! BIGTIME!
THEY ARE ALMOST AS BAD AS OUR EUROPEAN LEADERS!
SD.
Worse,they had more POWER.
I'd like to hear him cry a river about eliminating the tax favored status of capital gains and imposing a market transaction tax.
But that would be evil--evil, I say!--and not "serious," not "adult," not enlightened treatment of "job creators," and so on.
What a crock of shit. If it doesn't serve the financial industry, it don't fly. Period.
Let's scream about "class warfare" where clearly only one side is represented.
+1. I can't see why these guys wouldn't continue to operate in America even if capital gains taxes go higher and market transactions taxes are enacted. The economics are absurd. Many of them have a hard time just leaving NYC.
taxation isn't the answer either, at Federal level the state has forced its citizens under threat of violence or imprisonment to pay taxes which now equate to nearly 50% of income (when you include state and federal) for a regular lower or middle class working stiff. The whole concept of income tax to pay for government programs and jobs is a corrupt and unsustainable one.
Unless you're proposing a tax that directly pays down the debt then the idea of more taxes on a population that gives nearly and in some cases more than half their money each year to a bunch of thugs is an unjust one, and the reason why we're in this situation to start with.
To put it another way, you'd trust those narcissistic children in Washington DC to do the right thing with the money? They haven't in the last 100 years so why suddenly would they behave morally now?
How did the US economy perform under Ronald Reagn? What were the tax rates then?
<does doubletake> was that a trick question?
Debt ballooned, the US began offshoring all its manufacturing jobs, CPI had its first taste of hocus pocus on its way to utter irrelevance except as a tool to manipulate public perception, US started down the path of moving from creditor nation to debtor nation...should I continue?
Yeah, it was.
So, at what point was the American economy "healthy?"
<checks over shoulder for come-from-behind sucker punch>
During the mid 19th century to the very early years of the 20th? That is as `healthy` a period as I know of; at all times that the `metal standard` of that era wasn`t being undermined, anyway.
Fair enough. As an inhabitant of the WIld West, I would mostly agree. It wasn't "healthy" for everyone and required a virtual apartheid system to provide cheap labor, but that's no different than the present time.
The tax rate as a marker of economic health is a red herring, IMO.
Taxes seem to me the simplest means of bringing a little sanity to the "wealth creating" charade that is our capital markets. Sure, we could attack the underlying problems, say, eliminate the Fed, but that's way beyond our reach.
We can't even expect them to stop the trillion dollar war machine or TBTF at this point. The fact is that it is the financial markets that benefit from TBTF . . . let those "winners" pay for that support via taxes at the same rate as the rest of society.
We don't even have to get into the question of what constructive purpose the financial industry actually serves at this point. Simple fairness alone covers it.
Would politicans continue to increase spending? With revenue mechanisms that made sense, a balanced budget ammendment would not be such a divisive issue, imo.
Aww... the paper pusher got his feelings hurt because someone said he should pay taxes too.
Why should Americans that actually work for a living subsidize this assclown's tax bill?
Raise rates on cap gains, corporations, and hedge hogs. Lower them on individuals.
Yup, it's this kind of 'deep thinking' that will solve the problem
Oh, you only appreciate socialism for the three-comma crowd. How enlightened of you.
i admit i've become prejudiced against rich people...when i see a rich person, i don't say to myself, "there goes a muscular genius of capitalism"...For the most part i wonder, "who did that guy; cheat, fuck over, bribe, scam, embezzle, con, pimp, kickback to, or inherit from?"
Fuck the rich
I've got no problem with rich people; some of my friends are rich people! <rimshot>
What I have a problem with is differential taxation of some rich people over others.
Last I checked, corporations are individuals. Or at least that's the line they are selling. Of course the guy is talking his book, aren't most people that have much to lose from veering off from the Status Quo?
You are EXACTLY right. In fact, I'll go you one better: ELIMINATE income taxes on natural persons. Why? Because this country was founded on the principle of FREEDOM, and and income tax is not consistent with that principle. How can one be FREE if the fruits of one's labors benefit some other entity FIRST? You are a slave, by definition.
Artificial persons, on the other hand, depend 100% on the state for their very existence. They should pay handsomely for that privilege.
OOOOOOOOOOOOOOOOOoooooooooooooooooo!!!!!!!!!! I like it!
You are EXACTLY right. In fact, I'll go you one better: ELIMINATE income taxes on natural persons. Why? Because this country was founded on the principle of FREEDOM, and and income tax is not consistent with that principle. How can one be FREE if the fruits of one's labors benefit some other entity FIRST? You are a slave, by definition.
Artificial persons (i.e. corporations, LLCs, etc.), on the other hand, depend 100% on the state for their very existence. They should pay handsomely for that privilege.
How about everybody pay the same tax rate? Get rid of all subsidies, deductions, etc.? Simplify that damn tax code, and eliminate most of the IRS.
At 20% across the board? ;)
How about the federal government getting back into the box it was meant to be kept in, and none of us, as individuals, pay any freakin' taxes at all?
+1615.20
MIC(key)Mauser wouldn't like that. How would the jolly green giants roaming the earth sticking their 'privates' into hornets' nests pay for their guns?
Totally off topic, but I really really detest scribd; intentionally garbled cut n paste, required download registration, now they're hiring people with titles like "monetization engineer". That's right webmonkeys, their bandwidth won't always be free.
15% flat tax, no deductions, on EVERYONE, no earned income tax credit, no AMT, no nothing. for individuals and Corps.
bal budget amendment w/ election 2012 at 15% SAME number.
watch the POLS and lobbyists in WASHINgCrooks Squirm.
15% or NO DEAL, on everything.
simple, fair, and enforceable on the crooks.
No.
That is a distraction.
Government should not need to tax. We went decades without an income tax in the US.
We need to cut spending at all levels by 99.9%
We've got petulant spoiled children at the helm, and people expect market sugar to be poured everywhere from the great magic spigot. Totaly insane.
This new format, is not good,IMHO.......if you edit spelling, it does not correct it,no cut and paste,pls go back to the other way.
Offer a way to help US pay for the site and PLEASE do not use Pay Pal.
Seems the Headers just eat more bandwidth......but it's your site, and I appreciate the info.
As long as he has one hand on a lifeboat -
wealth re-distribution BAD
jobs re-distribution GOOD
It's all garbage. The courts say that corporations are people, and that corporations are required to do whatever it takes to maximize shareholder value without respect to destroying the society in which they flourish. We keep well locked up hospitals for two legged people that think that way. But corporations are exempt. The ZH loonies think that is cool.
That is insane. Sauve qui peut.
Why not scare old people? Who do you rhink would get paid first, bondholders or SS recipients?
It's rediculous. Bernanke seemed to have no problem creating all the required "funds" to give to bankers around the world, but regular folks can just go die in the streets.
The elites can be taken care of WITHOUT Congressional interference. The rest of us must rely on Congress.
I guess I missed the point of this article. Other then a few ad hominum right wing talking points and self serving crowings re: positioning themselves in the Ag markets and going "long" on Sara Lee, I fail to see the relevancy. Besides, what kind of corporate talking head script writer releases a quarterly report with a leading intro dedicated to Led Zeppelin?
Besides, what kind of corporate talking head script writer releases a quarterly report with a leading intro dedicated to Led Zeppelin?
An immature moronic one.
It looks like some of the financial industry boys are getting a little concerned. Class warfare was ok as long as only one side, their side, was engaged, now that the other side is starting to engage they aren't as happy. They don't seem to get it, the tired old Beck sound bites about class warfare don't resonate with as many folks as they once did. I know I can't be the only one who once would have agreed with the claim of class warfare, but then saw the light when those at the top took all the life boats and left the rest of us to go down with the ship, when we hit this iceberg.
steve wynn, the ultimate wall street liar.
he defrauds his his investors year after year by diluting his own stock in his company massivley. why? so he can take compensation through stock sales to pay lower taxes by way of capital gains. so he is screwing the u.s. treasury as well.
then, when financial bubble explodes, the stock of his gambling casino business which is based on selling addictive substances goes to nearly zero . obama bails out the banks which promptly send his stock to the moon, and then he complains that this man is screwing him over?
wynn is a remorseless class warfare mongering greedy bastard who would be fine with watching millions of people starve to death so long as they gambled away their money at his casino. he is horrible and dangerous human being who not only refuses to recognize he makes his fortune off of human misery, but embraces the profitable path of living off of other people's pain and suffering and then supports those are willing to join him in this crusade.
i'm really not a big fan of 'revolution' or the other nonsense that people frequently spout on about supporting on this website. but steve wynn is definitley on the list of people who should be placed on the guillotine line (if it ever comes to that) . and i'm sure when things go bad in china, that the chinese will have their minions in macao waiting to dismember this man and his assets. and then , just you wait, he will come running back to the u.s. government asking for them to intervene on his behalf, to use our military threat payed for with public blood and dollars, to protect his assets in china, for which he pays NO taxes to the u.s.
it's just really outrageious behavior. angelo mozillo, joe cassano, wynn is definitley up there with these fellows.
The whining of rich folks always turns my stomach.
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