Stocks End Down Again – Worst 3-Day Point Decline In History Of Dow Jones

DOW, S&P Close Lower In Biggest Reversal Since Oct. 08 – CNBC

U.S. stocks closed lower, after a failed attempt to rally from the Dow’s worst 3-day point decline in history, as investor confidence waned amid continued concerns about China and global growth.

The Dow Jones industrial average and the S&P 500 closed about 1.3 percent lower after rallying nearly 3 percent earlier, their biggest reversal to the downside since Oct. 29, 2008. The S&P 500 remained in correction territory after falling there on Monday. The index also posted its first six-day losing streak since July 2012.

“That crash (Monday) was so big and so long since we had one (investors) don’t want a repeat of 2008 so they bail out,” said Lance Roberts, general partner at STA Wealth Management.

The Dow fell 205 points and S&P 500 closed below 1,900 after falling into negative territory in the last half hour of trade. The Nasdaq Composite failed to hold slight gains and closed 0.44 percent lower.

The Dow traveled another 1,600 points during Tuesday’s trading session, adding to the 4,900 points the index traveled in down and up moves on Monday.

DJIA intraday moves

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“Whatever triggered the consternation in the last few trading sessions is likely to be replayed again,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott. He said a negative close “would be a set up to grind sideways to work out this process, if this rally and enthusiasm can’t last I think it’s an indicator (of that consternation).”

The major averages began paring gains in late morning trade after the European close.

“This is typical after a wild swing we had yesterday,” said Peter Cardillo, chief market economist at Rockwell Global Capital. “It’s just going to take some time for confidence to rebuild in the market.”

Earlier, the Dow gained as much as 441.5 points and the Nasdaq outperformed, up more than 3.5 percent. Morning leaders such as Netflix and Chinese stocks such as JD.com and Baidu still closed more than 4 percent higher. Alibaba gained 4.2 percent.

However, Apple clung to gains of just 0.6 percent after earlier surging more than 7 percent.

In the open, no S&P 500 stocks in the index hit new 52-week highs or lows, after about 200 names hit new 52-week lows Monday.

Morning gains fell short of recouping Monday’s more-than-3.5 percent plunge and the Dow remained on pace for its biggest monthly percentage loss since February 2009 and the Nasdaq since 2008. The S&P 500 was on track for its largest percentage loss since May 2010.

“It’s not as great as a bounce that many were anticipating,” said Kevin Mahn, chief investment officer at Hennion and Walsh. “I think obviously the market sold off far more than it should have.”

“We kind of dipped into that correction territory but we’re not going to stay there,” he said, noting the S&P 500 should trade more in pullback territory between 5 to 10 percent than in correction mode, between 10 to 20 percent lower.

Some of the things “bothering markets yesterday were China and collapsing commodity prices and both of those have given us some relief and when I look at China I don’t look at the Shanghai market. I look at the Hong Kong market,” James Meyer, chief investment officer at Tower Bridge Advisors, said of the morning rally.

The Hang Seng closed up 0.72 percent, while the Nikkei plunged 4 percent and the Shanghai Composite extended recent losses to fall below the psychologically key 3,000 mark, down 7.6 percent. However, European stocks surged, with the DAX up nearly 5 percent.

Crude oil futures settled up $1.07, or 2.80 percent, at $39.31 a barrel. Brent traded more than 1 percent higher to above $43 a barrel.

For the rally to be real “we have to end strong and follow-through tomorrow,” Meyer said.

In early trade Tuesday, Dow futures spiked above 600 points, implying an open of more than 450 points.

U.S. stock index futures extended gains after the Chinese central bank announced plans early in the morning ET to cut its one year lending rate to 4.6 percent, which the People’s Bank of China said was provide long-term liquidity and help support the economy.

“I’m looking for every reason to be a buyer,” said Nick Raich, CEO of The Earnings Scout, who remains bearish on equities. “We’re not upgrading our view at this point until we see topline growth… until then it’s going to be hard to sustain a rally.”

For Tuesday’s open, the New York Stock Exchange invoked Rule 48 for the second day in a row, Dow Jones reported.

The exchange used the rule before Monday’s open after futures for several major averages hit limit down. The last time the rule was used was during the financial crisis.

Stocks plummeted on Monday, with the S&P 500 joining the other major averages in correction territory. Nine of the 10 sectors are in correction territory, with consumer staples less than 1 percent away.

The Dow had its biggest intraday swing ever, falling as much as 1,089 points in the open on Monday. U.S. stocks closed more than 3.5 percent lower, off session lows in high volume trade as fears of slowing growth in China pressured global markets.

Cumulative trade volume was 13.94 billion shares as of 4:00 p.m. ET, the highest volume day since Aug. 10, 2011. Composite trade volume on the New York Stock Exchange was 6.57 billion shares, the heaviest since Oct. 27, 2011.

High-frequency trading accounted for 49 percent of Monday’s total trade volume of 14.2 billion shares, according to TABB Group. Average daily trade volume month-to-date is 7.5 billion shares, with high-frequency trading accounting for 49 percent. During the peak levels of high-frequency trading in 2009, about 61 percent of 9.8 billion of average daily shares traded were executed by high-frequency traders.

Trade volume was tepid throughout most of Tuesday’s session before accelerating into the close as the major averages sold off.

Housing data out Tuesday missed expectations slightly but continued to indicate strength in the market. New home sales figures for July came in at an annual rate at 507,000. The Case-Shiller home price indices for June showing home prices rose less than expected.

In other economic news, the Conference Board’s consumer confidence indicator for August rose to 101.5, beating expectations.

“So far it doesn’t appear that we’ve had any disease from the foreign markets (in the economy),” Luschini said.

The U.S. dollar traded about 1 percent higher against major world currencies, with the euro lower near $1.15 and the yen trimming losses against the greenback near 118 yen.

Treasury yields jumped from lows touched Monday, with the 10-year Treasury yield at 2.09 percent, off highs of near 2.14 percent, and the 2-year note yield at 0.60 percent after trading near 0.64 percent.

The Treasury Department auctioned $26 billion of two-year notes at a high yield of 0.663 percent, lower than the previous July auction. Demand was below average and the lowest since October.

In earnings, Best Buy, Toll Brothers and Sanderson Farms reported before the market open.

Best Buy surged 12.57 percent. The electronic retailer beat estimates by 15 cents with adjusted quarterly profit of 49 cents per share, with revenue also beating forecasts. Same-store sales rose 2.7 percent, compared to the Thomson Reuters forecast of a 1.0 percent increase.

Toll Brothers plunged nearly 8 percent after reporting a decline in profits year-over-year. The luxury homebuilder did report a 12 percent rise in third-quarter orders.

Sanderson Farms closed 0.09 percent lower after the poultry producer posted earnings that fell substantially shy of the $2.90 consensus estimate with quarterly profit of $2.27, while revenue was also below forecasts. The company said a key factor in the quarter’s results was continued pricing pressure.

The Dow Jones Industrial Average closed down 204.91 points, or 1.29 percent, at 15,666.44, with Merck plunging 5.2 percent as the greatest laggard and Apple and Walt Disney the only advancers.

The Dow transports also reversed intraday gains to close down 1.7 percent, solidly in correction territory.

The S&P 500 closed down 25.59 points, or 1.35 percent, at 1,867.62, with utilities plunging more than 3 percent to lead all 10 sectors lower.

The Nasdaq closed down 19.76 points. or 0.44 percent, at 4,506.49. The iShares Nasdaq Biotechnology ETF (IBB) closed up 0.17 percent, losing intraday gains of more than 3 percent.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 37 after spiking above 50 on Monday, its highest level since February 2009.

About nine stocks declined for every seven advancers on the New York Stock Exchange, with an exchange volume of nearly 1.3 billion and a composite volume of nearly 5.2 billion in the close.

Gold settled down $15.30 at $1,138.30 an ounce.

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Leftist Idiocy Update: Minimum Wage Hike Causes Seattle Restaurants To Lose 1,000 Jobs

Seattle Restaurants Suffer Worse Job Loss Since The Great Recession – Daily Caller

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According to a report released Sunday by the American Enterprise Institute (AEI), the $15 minimum wage has caused Seattle restaurants to lose 1,000 jobs – the worst decline since the 2009 Great Recession.

“The loss of 1,000 restaurant jobs in May following the minimum wage increase in April was the largest one month job decline since a 1,300 drop in January 2009, again during the Great Recession,” AEI Scholar Mark J. Perry noted in the report.

The citywide minimum wage increase was passed in June of last year. The measure is designed to increase the city minimum wage gradually to $15 an hour by 2017. The first increase under the plan was to $11 an hour in April. According to the report, Seattle restaurants have already faced severe consequences as a result. In contrast, in the six years since the 2009 financial crisis, the industry has been recovering in areas without the $15 minimum wage.

“Restaurant employment nationally increased by 130,700 jobs (and by 1.2%) during that same period,” the report also noted. “Restaurant employment in Washington increased 3.2% and by 2,800 jobs.”

Supporters of the $15 minimum wage often argue it will help the poor and stimulate economic activity. Opponents, however, argue such policies will actually hurt the poor by limiting job opportunities. How little or how much of either outcome usually depends on the study. Nevertheless, even the nonpartisan Congressional Budget Office (CBO) agrees at least some job loss is expected.

Studies also show that industries with low profit margins, like restaurants, are more likely to be hit the hardest. A June report from the investor rating service Moody’s claims the minimum wage doesn’t even have to go up to $15 an hour for negative effects to occur.

From rallies to media marketing campaigns, Fight for $15 has led much of the effort to raise the minimum wage in the past year. Though claiming to be a grassroots workers movement, the group is highly influenced and funded by the Service Employees International Union (SEIU).

The SEIU has been criticized by some, like Worker Center Watch (WCW), for using the Fight for $15 protests as a way of bypassing labor laws to more easily unionize fast food workers. Additionally, according to a report from the Center for Union Facts, a minimum wage increase would benefit the SEIU directly while hurting non-unionized SEIU competitors.

Fight for $15 and the Seattle City Council did not respond to requests for comment from The Daily Caller News Foundation.

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Feds Overpaid $371.5 Million In Benefits To Disability Recipients

Social Security Administration Overpaid $371.5 Million In Disability Benefits – Washington Free Beacon

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The Social Security Administration (SSA) overpaid individuals a total of $371.5 million in disability benefits from fiscal year 2009 through fiscal 2013, according to a Government Accountability Office (GAO) report.

These overpayments are cause for concern, as the Social Security’s Disability Insurance Trust Fund is expected to go broke by 2016, according to SSA’s 2015 annual report.

“During a time of growing concern about the solvency of the DI trust fund, it is important for SSA to take every opportunity to help improve the financial status of the program,” the GAO said. The report examined how these concurrent Federal Employees’ Compensation Act (FECA) payments affect Disability Insurance (DI) overpayments.

The GAO found that SSA did not detect concurrent FECA payments for about 1,040 individuals during at least one month from July 1, 2011, through June 30, 2014.

To test SSA’s internal controls, GAO randomly selected 20 beneficiaries for review. In all 20 cases, SSA’s controls failed to detect and prevent overpayments. In seven of the cases, SSA did not detect overpayments for more than a decade, and each of these individuals received $100,000 in overpaid benefits.

One of these seven individuals received FECA benefits in the 1980s and was approved for disability benefits 14 years later in 1994. The GAO found that this individual received $200,000 in overpayments for more than 20 years.

The SSA’s “internal controls” rely on beneficiaries to self-report overpayments.

“SSA officials told us that if beneficiaries do not self-report benefits, there are no system prompts that would alert SSA staff to ask beneficiaries if they are receiving any workers’ compensation benefits, including FECA payments,” states GAO. “SSA officials agreed that relying on beneficiaries to self-report benefits presents a challenge in identifying overpayments related to the concurrent receipt of FECA benefits.”

The disability insurance program is the nation’s largest cash assistance program for workers with disabilities. In fiscal year 2014 it paid $142 billion to 11 million beneficiaries.

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New Obama Regulations Will Close Hundreds Of Coal Plants, Block New Ones, Increase Electricity Costs 80%

EPA Regs Will Close Hundreds Of Coal Plants, Block New Ones, Increase Costs 80% – Independent Sentinel

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Obama is to fossil fuels what locusts are to crops.

The administration is coming up with Draconian regulations on coal plants Monday and they are worse than originally planned.

A government official promised on Tuesday that regulations will cost taxpayers as much as 80% more for electricity but the New York Times said the “administration argues that the rules will save the average American family $85 annually in electricity costs and bring additional health benefits.” You read that correctly.

This is the government engineered unFree Market at work. Read on.

We were promised a savings of $2500 a year in our health insurance premiums but they are skyrocketing. This energy debacle appears to be going down the same road. All of this is to control us. Coal is not bad enough to warrant this overreaction but the president wants his ideology in place.

On Tuesday, Julio Friedmann, deputy assistant secretary for clean coal at the Department of Energy, told members of the House Energy and Commerce Committee’s oversight board that regulations for new coal plants would increase electricity prices by as much as 80%, as reported by the Washington Examiner.

“The precise number will vary, but for first generation we project $70 to $90 per ton [on the wholesale price of electricity],” Friedmann said. “For second generation, it will be more like a $40 to $50 per ton price. Second generation of demonstrations will begin in a few years, but won’t be until middle of the next decade that we will have lessons learned and cost savings.”

In other words, prices are anticipated to go up, then come down as the technology develops but they will never be inexpensive as they were.

The problem is mainly that the CCS technology they are forcing on the coal plants is not ready for prime time and the people will have to shoulder the costs of the premature regulations and the immature technology. The lowered future costs are reliant on their betting on the technology they admit is not ready for use.

Friedman said coal plants would not install the CCS technology without the mandate and the government will subsidize them. That’s another cost to taxpayers so the government can force the technology through quickly.

If the technology is not ready for use, how can it be mandated and how do we know it will work?

Laura Sheehan, senior vice president of communications for the American Coalition for Clean Coal Electricity accused the Obama administration of trying to drive up energy costs and put Americans out of work.

“Today’s hearing shed further light on how grossly underdeveloped CCS remains and revealed the staggering cost increases American consumers and manufacturers will face if future power plants are forced to operate under EPA’s inane regulations,” Sheehan said. “DOE and EPA are wasting valuable taxpayer dollars by pursuing policies that will do nothing to build economic confidence and create jobs but everything to drive up energy costs and put hardworking Americans out of work.”

The government and their environmental group partners refused to listen to requests for more realistic cost ranges.

The New York Times reported that on Monday, EPA head Gina McCarthy will announce the toughest Obama regulations to date, regulations which will possibly shut down hundreds of coal-fired plants and freeze construction of new coal plants. This is part of the administration’s fundamental transformation of the energy sector which he has basically seized via the EPA.

He is fighting global warming which he sees as an existential threat though many believe his nationalization of every U.S. sector is more of an existential threat.

The NY Times reports, “the most aggressive of the regulations requires the nation’s existing power plants to cut emissions 32 percent from 2005 levels by 2030, an increase from the 30 percent target proposed in the draft regulation.”

They added, “That new rule also demands that power plants use more renewable sources of energy like wind and solar power. While the proposed rule would have allowed states to lower emissions by transitioning from plants fired by coal to plants fired by natural gas, which produces about half the carbon pollution of coal, the final rule is intended to push electric utilities to invest more quickly in renewable sources, raising to 28 percent from 22 percent the share of generating capacity that would come from such sources.”

The administration could not get a cap and trade bill passed so the president took out his pen and phone and is putting through a cap and trade bill that will probably negatively impact the lives of the middle class Americans he purports to help. If the president wins in court, it will force every state to implement his cap and trade.

Senate Majority Leader Mitch McConnell comes from a coal state and has told governors to refuse to follow the mandates.

The NY Times added that “experts”, who were left unnamed in the article, say that emissions could level off enough to prevent the worst effects of climate change. They are referring to the global warming that is in its 21st year of not warming.

Taxpayers can take small solace in the fact that this is for Mr. Obama’s legacy and he’s ramping up in time for his term’s end.

The administration says this will save the average taxpayer $85 a year but they might be using Common Core math because that’s not what Mr. Friedman said on Tuesday.

Leftist think tanks like ThinkProgress predict lower energy bills but that is not what Barack Obama promised in January 2008.

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Predictable: Leftist CEO Who Cut His Pay To Give Employees $70k Minimum Wage Has Pretty Much Ruined His Business

Lib Economics!! CEO Who Cut His Pay To Give Employees ‘$70k Minimum Wage’ Pretty Much Ruined His Business – Right Scoop

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When Dan Price announced that he would cut his million dollar pay in order to give his employees a $70,000 minimum wage, all the stupid little progressive morons rushed out to praise his “inspiring” move:

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Matthew P. Buckley
@docbuckley

I praise CEO Dan Price for raising the minimum wage of his workers to $70,000 and taking a pay cut himself: http://time.com/money/3831828/ceo-raise-70000-dan-price

10:12 PM – 24 May 2015
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Yannick Jacob
@Yannick_Jacob

#Inspiring: Dan Price, CEO of @GravityPymts, cut his own salary so that he could pay every employee a minimum of $70,000 a year. Way to go!!

6:50 AM – 1 Jun 2015
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TheCareerEngineer
@careerengineer

So as it turns out, guaranteeing employees a $70,000 salary is great for business. Gravity Payments CEO Dan Price… http://fb.me/1zDoeocyT

9:02 AM – 22 May 2015
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David Bocek
@davebocekwriter

Its a good thing what Dan Price of Gravity Payments is doing for his company. Paying a minimum salary of $70,000. Good idea in bad market

5:13 PM – 21 Apr 2015
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Tommy
@TommyGMeadeJr

CEO Dan Price, to their surprise, told his workers “that he thinks a $70,000 minimum wage is what everyone deserves.”

2:55 PM – 17 Apr 2015
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Not so fast, proggies!!! Just a few months later, that dude’s business is falling apart! LOL!

From Fox News:

Dan Price, 31, tells the New York Times that things have gotten so bad he’s been forced to rent out his house.

Only three months ago Price was generating headlines – and accusations of being a socialist – when he announced the new salary minimum for all 120 employees at his Gravity Payments credit card processing firm. Price said he was doing it, and slashing his $1 million pay package to pay for it, to address the wealth gap.

“I’m working as hard as I ever worked to make it work,” he told the Times in a video that shows him sitting on a plastic bucket in the garage of his house. “I’m renting out my house right now to try and make ends meet myself.”

The Times article said Price’s decision ended up costing him a few customers and two of his “most valued” employees, who quit after newer employees ended up with bigger salary hikes than older ones.

“He gave raises to people who have the least skills and are the least equipped to do the job, and the ones who were taking on the most didn’t get much of a bump,” Gravity financial manager Maisey McMaster, 26, told the paper.

She said when she talked to Price about it, he treated her as if she was being selfish and only thinking about herself.

“That really hurt me,” she said. “I was talking about not only me, but about everyone in my position.”

Approaching burnout, she quit.

Grant Moran, 29, also quit, saying the new pay-scale was disconcerting

“Now the people who were just clocking in and out were making the same as me,” he told the paper. “It shackles high performers to less motivated team members.”

Price said McMaster and Moran, or even critic Rush Limbaugh, the talk show host, were not wrong.

“There’s no perfect way to do this and no way to handle complex workplace issues that doesn’t have any downsides or trade-offs,” he said.

The Times said customers who left were dismayed at what Price did, viewing it as a political statement. Others left fearful Gravity would soon hike fees to pay for salary increases.

LOL! I LOVE IT! This is almost as good as the Seattle minimum wage debacle! I really can’t say which is more satisfying – if y’all want to debate in the comments, be my guest. Now excuse me, I have a glass of delicious liberal tears to enjoy.

Just kidding, that would probably be disease-ridden.

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Tech Giant Qualcomm Lays Off Thousands Of Americans While Simultaneously Seeking More Foreign Workers

Qualcomm Lays Off 4,500 Workers While Demanding More H-1bs – Daily Caller

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Another tech giant that says it must import foreign workers because there aren’t enough skilled American workers in the industry is laying off thousands of workers.

Qualcomm – a major producer of smartphone chips – announced last week it’s eliminating 15 percent of its workforce or about 4,500 employees, just weeks after fellow tech giant Microsoft announced a massive round of layoffs.

Both companies are top beneficiaries of the H-1b visa program, which backers say allows companies to temporarily hire foreign workers for jobs they can’t find qualified Americans workers to fill. Critics contend the program is really used to cut costs.

Microsoft and Qualcomm were in the top 15 users of H-1b visas in Fiscal Year 2013, according to U.S. Citizenship and Immigration Services data obtained by Computer World. They’re part of a major tech lobbying effort to increase the cap on these temporary workers, on the grounds there is a shortage of Americans with science, technology, engineering and math degrees.

“Qualcomm has been engaged within the technology industry in highlighting the ‘skills deficit’ in all areas of today’s workforce, especially engineering,” a spokeswoman for Qualcomm told The Daily Caller News Foundation. “This is an industry-wide problem, and we are committed to working to build the pipeline of students studying STEM fields.”

One in five of the new Qualcomm hires in Fiscal Year 2013 were foreign workers with H-1b visas, according to an analysis of SEC filings by Ron Hira, a professor at Rochester Institute of Technology who is an expert in offshoring. Those 900 foreign workers hired in 2013 triple the total number of workers Qualcomm hired in 2014.

“Qualcomm and other tech firms have argued that they turn to H-1Bs because there is a significant shortage of American talent available,” Hira told TheDCNF. “Given the recent large layoff announcements by Qualcomm, Microsoft, Intel, and Cisco, how can the tech industry continue to argue there’s a shortage of American workers?”

Microsoft did not immediately respond to a request for comment.

Hira also analyzed the skills of H-1b workers Qualcomm hired from Fiscal Year 2010 through 2012, and found most of the workers weren’t the highly skilled, U.S.-trained workers lobbyists imply make up the majority of H-1b holders.

Thirty-five percent of the 1,265 workers Qualcomm hired at that time held only a bachelors degree, and just 32 percent held advanced U.S. degrees. Only 44 of them held Ph.Ds from U.S. universities.

“This is very different than the carefully constructed, and misleading, narrative constructed by the tech industry that the H-1b program is primarily a vehicle for keeping people from abroad that the U.S. trained, and paid for,” Hira told TheDCNF.

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Obamanomics Update: President Asshat Owns Worst Economic Numbers Since 1932

Obama Owns Worst Economic Numbers In 80 Years, Since 1932 – Gateway Pundit

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Thanks to Obamanomics the US economy is plodding through the worst recovery in decades.

The Wall Street Journal reported:

The economic expansion – already the worst on record since World War II – is weaker than previously thought, according to newly revised data.

From 2012 through 2014, the economy grew at an all-too-familiar rate of 2% annually, according to three years of revised figures the Commerce Department released Thursday. That’s a 0.3 percentage point downgrade from prior estimates.

The revisions were released concurrently with the government’s first estimate of second-quarter output.

Since the recession ended in June 2009, the economy has advanced at a 2.2% annual pace through the end of last year. That’s more than a half-percentage point worse than the next-weakest expansion of the past 70 years, the one from 2001 through 2007. While there have been highs and lows in individual quarters, overall the economy has failed to break out of its roughly 2% pattern for six years.

It’s even worse than we thought.

Obama looks even worse, ranking dead last among all presidents since 1932 – over 80 years.

The Daily Caller reported:

Over the first five years of Obama’s presidency, the U.S. economy grew more slowly than during any five-year period since just after the end of World War II, averaging less than 1.3 percent per year. If we leave out the sharp recession of 1945-46 following World War II, Obama looks even worse, ranking dead last among all presidents since 1932. No other president since the Great Depression has presided over such a steadily poor rate of economic growth during his first five years in office. This slow growth should not be a surprise in light of the policies this administration has pursued.

An economy usually grows rapidly in the years immediately following a recession. As Peter Ferrera points out in Forbes, the U.S. economy has not even reached its long run average rate of growth of 3.3 percent; the highest annual growth rate since Obama took office was 2.8 percent. Total growth in real GDP over the 19 quarters of economic recovery since the second quarter of 2009 has been 10.2 percent. Growth over the same length of time during previous post-World War II recoveries has ranged from 15.1 percent during George W. Bush’s presidency to 30 percent during the recovery that began when John F. Kennedy was elected.

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Your Daley Gator Leftists-Ruin-Everything-They-Touch Video O’ The Day


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Hitlery To Propose Doubling Capital Gains Tax On Short-Term Investments

Clinton Would Double Capital Gains Tax On Short-Term Investments – OANN

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Democratic presidential candidate Hillary Clinton will propose nearly doubling the U.S. capital gains tax rate on short-term investments to 39.6 percent, the Wall Street Journal reported Friday.

A Clinton campaign official said the Clinton rate plan would affect investments held between one and two years, which are currently taxed at a 20 percent capital gains rate, the newspaper reported.

Clinton, the front-runner for the 2016 Democratic presidential nomination, will outline her plan in a speech Friday in New York. She will argue that corporate efforts to boost stock prices in the short term undercuts longer-term economic growth and hurts American workers, the newspaper said.

Top-bracket single earners with taxable income higher than $413,201 and married couples filing jointly with income above $484,850 would be affected, the newspaper reported.

The campaign official, who was not identified, said the plan would not change the capital gains rate for lower-income taxpayers, the journal said.

The plan would not count an extra 3.8 percent tax on net investment income included as part of the federal healthcare law, it said.

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Leftist-Run Seattle’s $15 Minimum Wage Vs. The Real World (Video)

Seattle’s $15 Minimum Wage Law Just Came Back To Bite Them In A Totally Unexpected Way – Western Journalism

As the push continues in various locations around the country to raise the minimum wage to $15 per hour, the real world consequences of such a move have begun to surface.

Seattle became the first city in the nation to implement the $15 per hour minimum wage this past spring. Fox News reports that one unintended effect is that workers who are earning the higher wage are asking for fewer hours, so they can remain eligible for low income government benefits like childcare and tax credits.

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Full Life Care, a home nursing nonprofit, told KIRO-TV in Seattle that several workers want to work less.

Local radio talk show host Jason Rantz on KIRO-FM noted the irony: “If [employees] cut down their hours to stay on those subsidies because the $15 per hour minimum wage didn’t actually help get them out of poverty, all you’ve done is put a burden on the business and given false hope to a lot of people.”

“Despite a booming economy throughout western Washington, the state’s welfare caseload has dropped very little since the higher wage phase began in Seattle in April. In March 130,851 people were enrolled in the Basic Food program. In April, the caseload dropped to 130,376,” according to Fox News.

As reported by Western Journalism, private businesses, unlike government entities (which, in theory, can always raise taxes or borrow), must make more than they spend in order to pay the rent, make payroll, keep the lights on, pay their business taxes, and, heaven forbid, have some left over for the owners and investors who are taking the risk and putting in the long hours.

“Some restaurants have tacked on a 15 percent surcharge to cover the higher wages. And some managers are no longer encouraging customers to tip, leading to a redistribution of income. Workers in the back of the kitchen, such as dishwashers and cooks, are getting paid more, but servers who rely on tips are seeing a pay cut,” Fox News reported.

Earlier this year, as the implementation of the minimum wage law loomed, Seattle Magazine noted that something appeared to be afoot affecting the restaurant industry in the city, asking: “Why Are So Many Seattle Restaurants Closing Lately? “Seattle foodies [are] downcast,” the magazine reported, “as the blows kept coming: Queen Anne’s Grub closed February 15. Pioneer Square’s Little Uncle shut down February 25. Shanik’s Meeru Dhalwala announced that it will close March 21. Renée Erickson’s Boat Street Café will shutter May 30 after 17 years with her at the helm… What the #*%&$* is going on? A variety of things, probably – and a good chance there is more change to come.”

The magazine went on to report that one “major factor affecting restaurant futures in our city is the impending minimum wage hike.” Anthony Anton, president and CEO of the Washington Restaurant Association, told the magazine: “It’s not a political problem; it’s a math problem.” He estimates that restaurants usually have a budget breakdown of about 36 percent for labor, 30 percent for food costs, and 30 percent to cover other operational costs. That leaves 4 percent for a profit margin. When labor costs shoot up to, say 42 percent, something has to give.

Shah Burnham is just one Seattle restaurant owner who believes that keeping her doors open is no longer worth it. She owns a popular Z Pizza restaurant location and says that even though her one store only has 12 employees, she’s considered part of the Z Pizza franchise – a large business. So she has to give raises within the next two years. “Small businesses in the city have up to six more years to phase in the new $15 an hour minimum wage,” according to Seattle’s Fox News 13.

“I know that I would have stayed here if I had 7 years, just like everyone else, if I had an even playing field,” she says. “The discrimination I’m feeling right now against my small business makes me not want to stay and do anything in Seattle.”

“It’s what happens when the government imposes a restriction on the labor market that normally wouldn’t be there” …usually the “small, neighborhood businesses” get hit the hardest, said Paul Guppy of the Washington Policy Center.

San Francisco and Los Angeles have already embraced the $15 per hour benchmark being pushed by some Democrat politicians and labor unions, while New York regulators announced their recommendation to the state’s governor this week to raise the rate for fast food workers to the same level.

The Heritage Foundation notes the minimum wage is usually for new workers, with a low percentage of Americans receiving it. The organization notes some other interesting statistics:

* Over half of minimum-wage earners are between the ages of 16 and 24.
* Two-thirds of minimum-wage workers earn raises within a year – without the government’s help.
* Only 2.9 percent of wage earners earn the federal minimum wage.
* Most minimum-wage earners are teenagers or young adults, not heads of families.
* Two-thirds work part time (defined as less than 35 hours a week).
* Two-thirds of minimum-wage workers live in families with incomes above 150 percent of the poverty line.
* Just 4 percent of minimum-wage workers are single parents working full time, compared to 5.6 percent of all U.S. workers.
* Studies find raising the minimum wage does not reduce poverty.

Heritage recommends that if government leaders want to reduce poverty, they should focus on growing the economy through better tax policies and restructuring the welfare state to remove the current disincentives to work more hours, or work at all.

Early indicators suggest that the $15 minimum wage is a lose, lose proposition for employers and employees.

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Crazed Socialist Martin O’Malley Pushed For Publicly Funded Hotel That Has Been Hemorrhaging Money

O’Malley Pushed For Publicly Funded Hotel That Has Been Hemorrhaging Money – Daily Caller

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In 2008, construction was completed on the 757-room Baltimore Hilton, a $305 million publicly-funded hotel spearheaded by Baltimore’s mayor at the time, Martin O’Malley. The hotel, in seven years of operation, has never turned a profit. The best year of operation saw a $2.9 million loss.

“It’s the biggest boondoggle ever. It’s hemorrhaging money every year and has less-than-stellar performance,” Democratic Maryland state Sen. James Brochin told The Daily Caller.

Originally intended to draw revenue from a supposed untapped convention market in Baltimore, the Hilton Hotel project slowly began losing money when conventions passed on Baltimore for other locations such as Austin, Texas and nearby Washington, D.C.

In July 2005, more than three years after the plan was finalized, it was still facing opposition in the city council. Of the 15 council members, only three said they believed the hotel would actually help the city.

“In my district, I can’t get funding to fix vacant houses,” Councilwoman Mary Pat Clarke told The Baltimore Sun in 2005. “I’m worried about the financing and the kind of precedent this is setting.”

After O’Malley pushed the hotel vote to pass with the council, The Sun reported that this, the “costliest public project in Baltimore history” may see the fate of other cities’ failed publicly funded hotel ventures, such as St. Louis, Omaha, and Overland Park, Kan., “all cities that used public money to build hotels. Failing hotels.”

“The government shouldn’t be in the business of owning businesses. It was a catastrophic economical mistake by O’Malley, and the whole thing is ridiculous,” said Brochin.

O’Malley’s hotel, which he claimed in 2005 to be “risk-free,” is now entering its seventh year of public losses, the Sun reported earlier this year.

Even in times of great profit for the city, the hotel has weighed it down. In 2014, 2.4 million fans were drawn to Camden Yards when the Orioles took home the AL East pennant and, even though the hotel is situated directly adjacent to the stadium, it reported losses of $5.6 million.

Jan Freitag, a vice president with the Tennessee-based firm Smith Travel Research, told the Sun 2014 was a banner year for hotels across the country, including Baltimore, which saw a 7.9 percent growth in hotel revenue. Yet the Hilton’s losses persisted.

In a 2008 sports column in The Washington Post, Thomas Boswell used the Hilton Hotel’s burgeoning construction to illustrate the sadness of the Orioles as a whole. He described the sadness of their opening day loss as “begin[ning] their season as expected – in the utter misery of a complete rebuilding program,” referring to the ball club and the city of Baltimore.

Boswell continues: “The Hilton Convention Center Hotel next door, when finished, may merely be ugly. However, in its current state, with huge random splotches of yellow, white and blue, it’s like a cruel cubist joke. Forever, it will dominate the horizon and block views of the… adored Bromo Seltzer Tower… lording [its] eyesore [self] over previously perfect Camden Yards.”

A request for comment to the O’Malley campaign went unreturned.

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Government Malfeasance Update: Feds Spend Over $3.5M To Find Out Why Most Lesbians Are Fat

U.S. Taxpayers Fork Out More Than $3.5M To Find Out Why 75% Of Lesbians Are Obese – Daily Mail

The National Institutes of Health (NIH) has now spent over $3.5 million of taxpayer’s money to try and determine why the majority of lesbians in the US are obese.

The study entitled, ‘Sexual Orientation and Obesity: A Test of a Gendered Biopsychosocial Model,’ is aimed at concluding why nearly three-quarters of adult lesbians are dangerously overweight.

The study is also investigating why heterosexual men are twice as likely to be obese when compared to gay males.

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Fat disparity: The National Institutes of Health (NIH) has now spent over $3.5 million of taxpayer’s dollars in an effort to determine why the majority of lesbians in the U.S. are obese

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‘It is now well-established that women of minority sexual orientation are disproportionately affected by the obesity epidemic, with nearly three-quarters of adult lesbians overweight or obese, compared to half of heterosexual women. In stark contrast, among men, heterosexual males have nearly double the risk of obesity compared to gay males,’ says the study.

The NIH has cited public health and the risks associated with obesity in their continued funding of the project.

The study first began in 2011 and it will continue until June of next year.

Free Beacon reports that the total funding for the research is now $3,531,925. Funding has more than doubled since the study was first reported on by CNSNews.com in 2013.

A scientific paper associated with the study asserted that lesbians have lower ‘athletic-self esteem’ that could be linked to higher rates of obesity.

A separate research paper found that lesbians are more likely to see themselves as a healthy weight even if they are not.

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Athletic confidence: A scientific paper associated with the study asserted that lesbians have lower ‘athletic-self esteem’ that could be linked to higher rates of obesity and that they exercised fewer hours when compared to their heterosexual female peers

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A study published last month by the project’s lead investigator, S. Bryn Austin, concluded that young gay and bisexual men were more concerned with being lean than their heterosexual male counterparts . The study found that both heterosexual and homosexual males were concerned with their muscles at a young age.

‘Latent transition analyses revealed that sexual minority males (i.e., mostly heterosexual, gay, and bisexual) were more likely than completely heterosexual males to be lean-concerned at ages 17-18 and 19-20 years and to transition to the lean-concerned class from the healthy class,’ said the scientific paper.

‘There were no sexual orientation differences in odds of being muscle-concerned.’

The study also investigated body issues among young men and suggested that they should be screened to ensure they didn’t have too much of a preoccupation with their biceps.

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Yes On Trade Promotion Authority… Which Does Not Mean Yes On The Trans Pacific Partnership (Andrew C. McCarthy)

Yes On Trade Promotion Authority… Which Does Not Mean Yes On The Trans Pacific Partnership – Andrew C. McCarthy

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TPA is “Trade Promotion Authority” legislation currently being considered by Congress. TPP is the “Trans-Pacific Partnership,” the pact the Obama administration is currently negotiating with several Asia Pacific nations. As the editors point out today, the two are not one and the same and they should not be conflated.

The rationale that, because President Obama abuses executive authority, he should be denied any tool that enhances executive authority is a worthy rule of thumb. But its premise is that executive authority is actually being enhanced in a manner that Congress cannot check. That, as our editorial explains, is simply not true when it comes to TPA.

The contention that TPA is unconstitutional is meritless. In our system, as Jefferson put it, “the transaction of business with foreign nations is executive altogether,” and “exceptions are to be strictly construed.” In the case of trade agreements, those exceptions include the Senate’s power over the approval of treaties and the powers of Congress over both foreign commerce and any legislation necessary to implement a trade agreement. TPA is not only fully compliant with, but reinforcing of, this constitutional arrangement.

Foreign countries should not be made to negotiate with both the president and Congress in striking a deal. It is enough for them to know (as Senator Tom Cotton outlined in connection with President Obama’s Iran deal) that any agreement the president makes is subject to congressional approval if it is to have the force of law. Since the point of a trade agreement is to structure a legal framework for international commerce, we must thus infer that the countries negotiating such a deal want a workable legal structure. Our constitutional division of authorities between the president and Congress gives foreign nations an incentive not to press for terms the president will not be able to sell at home – thus strengthening the president’s negotiating position.

Meanwhile, whether the international agreement in question is deemed a treaty or an agreement requiring implementing legislation, Congress gets the final say on whether the agreement is approved.

To claim that this deprives Congress of its ability to shape the deal is as specious as claiming that the president’s limited power to sign or veto legislation deprives him of the ability to shape congressional statutes. In our system, the president gets to negotiate deals with other nations; if Congress does not like the deal – if it concludes that the bad outweighs the good – lawmakers can and should vote “no,” sending the president back to the drawing board. That is how it is supposed to work.

To my mind, there is no more promiscuous practice in the formulation of multilateral agreements than the Senate’s addition of caveats and reservations to rationalize approving objectionable treaties. The way the international law game gets played, these caveats and reservations get marginalized and the “law” becomes the unadorned text of the treaty accepted by the signatory nations. That is, the treaty in effect becomes the agreement as signed by the president, not the ratified agreement the Senate thought it had successfully amended. We would be much better off if, instead of deluding itself with caveats and reservations, the Senate refused to ratify the treaty, forcing the president to either abandon the agreement or go back to the negotiating table and fight for acceptance of the Senate’s demands.

It is the same thing with multilateral agreements that are not regarded as treaties. There should be a clear international agreement that Congress can either approve or reject. To contort the agreement with legislative caveats injects ambiguity into the duties and benefits the negotiating nations believed they were agreeing to. Moreover, it probably won’t work: Within a short time, the international law professors will tell us that the text of the original agreement – not the agreement as Congress amended it – has transmogrified into binding international law… and the State Department will say we really have no choice but to accept the consensus of “the international community.”

Better to let the president make the agreements and let Congress say “yes” or “no” – and be ready to say “no,” not con itself into thinking it can materially improve a bad deal.

Finally, as the editorial elucidates, agreeing to TPA is not agreeing to TPP.

I confess to being troubled by reports about the secrecy in which TPP negotiations and drafts have been shrouded, although these reports may be overwrought – something I’ll address in a subsequent post. If there is, in fact, a lack of sufficient transparency on TPP, it makes perfect sense for lawmakers to condition support for TPA on better transparency. That kind of leveraging is a routine part of the legislative process. It is also especially appropriate when dealing with a president who has a long record of mendacity, lawlessness, and the exploitation of complex legal arrangements to reward cronies.

Nevertheless, if we assume for argument’s sake that TPP is a bad deal, that would be a good reason to vote down TPP. It would not be a good reason to oppose TPA.

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Related article:

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The Secrecy Complaints About TPP Are Also Meritless – Andrew C. McCarthy

In yesterday’s post, I argued – in agreement with NR’s editorial – that it is a mistake to conflate (a) the Trans-Pacific Partnership (TPP) trade pact that the Obama administration is still negotiating with (b) Trade Promotion Authority (TPA) legislation that would grant the president the ability to seek an up-or-down vote from Congress on trade deals (including TPP) on a reasonably swift time frame. TPA is a good idea, is fully constitutional, and would not prevent Congress from rejecting a bad trade deal – which is exactly what Congress should do in the case of TPP if it turns out to be a bad deal. In a column on the homepage today, I examine another objection TPP opponents raise: the purported secrecy in which the agreement is shrouded. As readers will see, this objection is a red herring which confuses the draft agreement (the work in progress that the administration has made available to Congress under restrictive terms while it conducts the sensitive negotiations) with the final agreement (which will be available to both the public and Congress long before Congress is asked to vote on TPP legislation).

As today’s column relates:

There is no requirement for the executive branch to show Congress anything that is preliminary. The only agreement that is going to be voted on is the final agreement – at least if Obama wants that agreement to have the force of American law.

Significantly, with respect to that final agreement – which, to repeat, does not exist yet – the transparency protocols are apparently extensive. According to AEI’s Claude Barfield, the legislation will provide that the actual text of the final TPP agreement must be available not just to Congress but to the public for 60 days before the president is permitted to sign it. After that, if he wants the agreement to have the force of American law, the president must formally submit the final agreement to Congress, which would then have 90 days to review and vote on it.

That is, the supposedly “secret” TPP may not be approved until the public and our representatives in Congress have five months to scrutinize it.

If Dr. Barfield is correct, and I have found nothing to suggest otherwise, then the complaints about a secret deal being rammed through Congress and foisted on an unsuspecting public – à la Obamacare – are risible.

The full column is here.

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The Reds And The Blues: Who’s For The Trade Promotion Authority (TPA) Act, And Who’s Against It?


YEAS

These Are The Republican Members Of Congress With An American Conservative Union Rating Of 90 Or Above Who Support The Trade Promotion Authority (TPA) Act.

Representative Joe Barton – 92
Representative Marsha Blackburn – 96
Representative John Boehner – 94
Representative Steve Chabot – 92
Representative Mike Conaway – 92
Senator John Cornyn – 92
Senator Tom Cotton – 100
Senator Mike Crapo – 92
Senator Ted Cruz – 100
Representative Ron DeSantis – 100
Representative Scott DesJarlais – 100
Senator Jeff Flake – 92
Representative Trey Gowdy – 92
Senator Chuck Grassley – 92
Representative Tom Graves – 92
Representative Jeb Hensarling – 96
Representative George Holding – 96
Representative Tim Huelskamp – 96
Senator Jim Inhofe – 92
Senator Ron Johnson – 96
Representative Doug LaMalfa – 96
Senator James Lankford – 94
Representative Kenny Marchant – 96
Representative Tom McClintock – 100
Representative Jeff Miller – 92
Representative Randy Neugebauer – 96
Representative Robert Pittenger – 92
Representative Mike Pompeo – 100
Representative Tom Price – 92
Senator James Risch – 92
Representative Ed Royce – 92
Senator Marco Rubio – 96
Representative Matt Salmon – 96
Representative Steve Scalise – 96
Representative David Schweikert – 100
Senator Tim Scott – 96
Representative Austin Scott – 92
Representative Jim Sensenbrenner – 100
Representative Marlin Stutzman – 96
Representative Randy Weber – 100
Representative Roger Williams – 100

These Are The Democrat Members Of Congress With An American Conservative Union Rating Of 0 Who Support The Trade Promotion Authority (TPA) Act.

Representative Ami Bera
Representative Susan Davis
Representative John Delaney
Representative Debbie Wasserman Schultz
Senator Ben Cardin
Senator Dianne Feinstein
Senator Tim Kaine
Senator Patty Murray
Senator Bill Nelson

These Are The Republican Governors Who Support The Trade Promotion Authority (TPA) Act.

Robert Bentley – Alabama
Terry Branstad – Iowa
Sam Brownback – Kansas
Phil Bryant – Mississippi
Mary Fallin – Oklahoma
Gary Herbert – Utah
Susana Martinez – New Mexico
Mike Pence – Indiana
Pete Ricketts – Nebraska
Brian Sandoval – Nevada
Rick Scott – Florida
Scott Walker – Wisconsin

These Are The Democrat Governors Who Support The Trade Promotion Authority (TPA) Act.

Steve Beshear – Kentucky
John Hickenlooper – Colorado

These Are The Conservative Organizations That Support The Trade Promotion Authority (TPA) Act.

60 Plus Association
Advance Arkansas Institute
American Commitment
American Conservative Union
American Enterprise Institute
Americans For Job Security
Americans For Tax Reform
Cardinal Institute For West Virginia Policy
Center For Individual Freedom
Citizens For Limited Taxation
Club For Growth
Competitive Enterprise Institute
Conservative Reform Network
Council For Citizens Against Government Waste
Crossroads GPS
Digital Liberty
Ending Spending
Frontiers Of Freedom
Georgia Center Right Coalition
Institute For Liberty
Institute For Policy Innovation
Minnesota Center-Right Coalition
National Taxpayers Union
Property Rights Alliance
R Street Institute
Rio Grande Foundation
Small Business & Entrepreneurship Council
Taxpayers Protection Alliance
The Jeffersonian Project
Thomas Jefferson Institute For Public Policy​

These Are The Leftist Organizations That Support The Trade Promotion Authority (TPA) Act.

Progressive Coalition For American Jobs

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NAYS

These Are The Republican Members Of Congress With An American Conservative Union Rating Of 90 Or Above Who Oppose The Trade Promotion Authority (TPA) Act.

Representative Jim Bridenstine – 96
Representative Michael Burgess – 92
Representative Jeff Duncan – 100
Representative John Fleming – 96
Representative Scott Garrett – 96
Representative Louie Gohmert – 96
Representative Paul Gosar – 92
Representative Jim Jordan – 100
Senator Mike Lee – 100
Representative Cynthia Lummis – 92
Representative Mark Meadows – 96
Representative Mick Mulvaney – 95
Senator Rand Paul – 96
Representative Scott Perry – 96
Representative Bill Posey – 92
Representative Dana Rohrabacher – 96
Senator Jeff Sessions – 96

These Are The Democrat Members Of Congress With An American Conservative Union Rating Of 0 Who Oppose The Trade Promotion Authority (TPA) Act.

Representative Alma Adams
Senator Tammy Baldwin
Representative Tim Bishop
Representative John Carney
Representative William Clay
Representative Emanuel Cleaver
Representative Jim Clyburn
Senator Dick Durbin
Representative Bill Foster
Representative Steny Hoyer
Representative Tim Johnson
Representative Marcy Kaptur
Representative Ann Kuster
Senator Pat Leahy
Senator Barbara Mikulski
Senator Chris Murphy
Representative Patrick Murphy
Representative Donald Norcross
Representative David Price
Representative Cedric Richmond
Senator Brian Schatz
Representative Brad Sherman
Senator Chuck Schumer
Senator Debbie Stabenow
Senator Tom Udall

These Are The Republican Governors Who Oppose The Trade Promotion Authority (TPA) Act.

Chris Christie – New Jersey
Bobby Jindal – Louisiana

These Are The Democrat Governors Who Oppose The Trade Promotion Authority (TPA) Act.

Jay Nixon – Missouri

These Are The Conservative Organizations That Oppose The Trade Promotion Authority (TPA) Act.

Americans For Limited Government
Eagle Forum
Heritage Action For America

These Are The Leftist Organizations That Oppose The Trade Promotion Authority (TPA) Act.

Association Of Flight Attendants – CWA
AFL-CIO
American Federation Of Government Employees
American Foreign Service Association
American Federation Of State, County And Municipal Employees
American Federation Of Teachers
Alliance For Justice
Air Line Pilots Association
American Postal Workers Union
International Union Of Bricklayers And Allied Craftworkers
Bakery, Confectionery, Tobacco Workers And Grain Millers’ International Union
Commonwealth Association Of School Administrators
Chicago Federation Of Labor
Consumers Union
Credo Action
Civil Service Employees Association
Communications Workers Of America
Democracy For America
Doctors Without Borders
Farm Labor Organizing Committee
Global Trade Watch
Glass, Molders, Pottery International Union
International Association Of Fire Fighters
International Association Of Machinists And Aerospace Workers
International Alliance Of Theatrical Stage Employees
International Brotherhood Of Boilermakers
International Brotherhood Of Electrical Workers
International Brotherhood Of Teamsters
International Federation Of Professional & Technical Engineers
International Longshoremen’s Association
International Longshore And Warehouse Union
International Union Of Operating Engineers
International Union Of Painters and Allied Trades
Laborers’ International Union Of North America
North America’s Building Trades Unions
National Association Of Letter Carriers
National Air Traffic Controllers Association
Natural Resources Defense Council
National Education Association
National Football League Players Association
National Nurses United
National Postal Mail Handlers Union – LIUNA
National Taxi Workers’ Alliance
Operative Plasterers’ And Cement Masons’ International Association
Office And Professional Employees International Union
Oregon Fair Trade Campaign
Retail, Wholesale And Department Store Union
The Screen Actors Guild‐American Federation Of Television And Radio Artists
Service Employees International Union
Sierra Club
Seafarers International Union
International Association Of Sheet Metal, Air, Rail And Transportation Workers
Transportation Communications International Union-IAM
Transport Workers Union Of America
United Association
United Automobile Workers
United Brotherhood Of Carpenters
United Food And Commercial Workers International Union
United Mine Workers Of America:
UNITE HERE
United Steelworkers
Utility Workers Union Of America

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*AUDIO* Ted Cruz Discusses The TPA And TPP Agreements On The Jeff Kuhner Radio Program (06/12/15)


PART 1

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PART 2

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Bee-pocalypse Now? Nope. (Shawn Regan)

Bee-pocalypse Now? Nope. – Shawn Regan

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You’ve probably heard by now that bees are mysteriously dying. In 2006, commercial beekeepers began to witness unusually high rates of honeybee die-offs over the winter – increasing from an average of 15 percent to more than 30 percent. Everything from genetically modified crops to pesticides (even cell phones) has been blamed. The phenomenon was soon given a name: colony collapse disorder.

Ever since, the media has warned us of a “beemaggedon” or “beepocalypse” posing a “threat to our food supply.” By 2013, NPR declared that bee declines may cause “a crisis point for crops,” and the cover of Time magazine foretold of a “world without bees.” This spring, there was more bad news. Beekeepers reported losing 42.1 percent of their colonies over the last year, prompting more worrisome headlines.

Based on such reports, you might believe that honeybees are nearly gone by now. And because honeybees are such an important pollinator – they reportedly add $15 billion in value to crops and are responsible for pollinating a third of what we eat – the economic consequences must be significant.

Last year, riding the buzz over dying bees, the Obama administration announced the creation of a pollinator-health task force to develop a “federal strategy” to promote honeybees and other pollinators. Last month the task force unveiled its long-awaited plan, the National Strategy to Promote the Health of Honey Bees and Other Pollinators. The plan aims to reduce honeybee-colony losses to “sustainable” levels and create 7 million acres of pollinator-friendly habitat. It also calls for more than $82 million in federal funding to address pollinator health.

But here’s something you probably haven’t heard: There are more honeybee colonies in the United States today than there were when colony collapse disorder began in 2006. In fact, according to data released in March by the Department of Agriculture, U.S. honeybee-colony numbers are now at a 20-year high. And those colonies are producing plenty of honey. U.S. honey production is also at a 10-year high.

Almost no one has reported this, but it’s true. You can browse the USDA reports yourself. Since colony collapse disorder began in 2006, there has been virtually no detectable effect on the total number of honeybee colonies in the United States. Nor has there been any significant impact on food prices or production.

How can this be? In short, commercial beekeepers have adapted to higher winter honeybee losses by actively rebuilding their colonies. This is often done by splitting healthy colonies into multiple hives and purchasing new queen bees to rebuild the lost hives. Beekeepers purchase queen bees through the mail from commercial breeders for as little as $15 to $25 and can produce new broods rather quickly. Other approaches include buying packaged bees (about $55 for 12,000 worker bees and a fertilized queen) or replacing the queen to improve the health of the hive. By doing so, beekeepers are maintaining healthy and productive colonies – all part of a robust and extensive market for pollination services.

Economists Randal Rucker and Walter Thurman have carefully documented how these pollination markets work and how they respond to problems like bee disease. As it turns out, they work pretty well. A 2012 analysis by Rucker and Thurman found almost no economic impact from colony collapse disorder. (If anything, you might be paying 2.8 cents more for a can of Smokehouse Almonds.) They conclude that beekeepers are “savvy entrepreneurs” who have proven able to “adapt quickly to changing market conditions” with almost no impact on consumers.

Rebuilding lost colonies takes extra work, but so far most beekeepers seem adept at doing so. Rucker and Thurman find that the prices for new queen bees have remained stable, even with increased demand due to higher winter losses. Pollination fees, the fees beekeepers charge farmers to provide pollination services, have increased for some crops such as almonds. But these higher pollination fees have helped beekeepers offset the additional costs of rebuilding their hives.

The White House downplays these extensive markets for pollination services. The task force makes no mention of the remarkable resilience of beekeepers. Instead, we’re told the government will address the crisis with an “all hands on deck” approach, by planting pollinator-friendly landscaping, expanding public education and outreach, and supporting more research on bee disease and potential environmental stressors. (To the disappointment of many environmental groups, the plan stops short of banning neonicotinoids, a type of pesticide some believe are contributing to bee deaths.)

This is not to deny that beekeeping faces challenges. Today, most experts believe there is no one single culprit for honeybee losses, but rather a multitude of factors. Modern agricultural practices can create stress for honeybees. Commercial beekeepers transport their colonies across the country each year to pollinate a variety of fruits, vegetables, and nuts. This can weaken honeybees and increase their susceptibility to diseases and parasites.

But this is not the first time beekeepers have dealt with bee disease, and they do not stand idly by in the face of such challenges. The Varroa mite, a blood-sucking bee parasite introduced in 1987, has been especially troublesome. Yet beekeepers have proven resilient. Somehow, without a national strategy to help them, beekeepers have maintained their colonies and continued to provide the pollination services our modern agricultural system demands.

“What are we doing on bees?” the president reportedly asked his advisers in 2013. “Are we doing enough?” With U.S. honeybee colonies now at a 20-year high, you have to wonder: Is our national pollination strategy a solution in search of a crisis?

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2015 – The Year In Obamunism So Far


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President Asshat Promises To Keep Doing Everything He Can For Illegal Aliens

Thanks Barack… Obama Regime Released 3,700 ‘Threat Level 1’ Criminal Immigrants Last Year

Obama Lackeys Defend Iran Over Alleged Nuclear Violations

IRS Commissioner Admits Illegal Aliens Can Get Back Taxes Under Obama’s Executive Amnesty

President Asshat To Release 10 More Gitmo Terrorists This Month

George W. Bush Outpolls President Asshat

OSHA Retards Publish Guide Telling Workers To Use Restrooms Of Their ‘Gender Identity’

Obamaconomy Update: Factory Orders Scream Recession, Drop 6% From Year Ago

Obamanomics Update: Economy Shrinks By 0.7% In First Quarter

Emails Show Hitlery Wanted To Arm Libyan Rebels Using Private Security Contractors Despite Prohibitions

Federal Court Deals Blow To President Asshat’s Executive Amnesty Scheme

Ready For Another Obamacare Price Hike? (David Catron)

Thanks Barack… U.S. Welfare Rolls Explode Under Obamacare

Your Daley Gator Hitlery Clinton News Roundup

As Iran And Saudi Arabia Seek To Acquire Nukes, Obama Regime Pressing Israelis To Lose Theirs

Thanks Barack… Regime Granted Amnesty To Accused Child-Sex Criminal

So, How Come Hitlery Isn’t In Jail Right Now?

*VIDEO* Obama Lied About Benghazi Terrorist Attacks – Weapons Moved Through Benghazi To Syria

As A Reaction To Obama’s Iran Deal, Saudis Trying To Buy Nuclear Bombs From Pakistan

Hitlery Personally Took Money From Companies That Sought To Influence Her

Obama DHS Blames ‘Technical Glitch’ For Continuing To Approve Amnesty Applications Despite Judge’s Order

Thanks Barack… Taliban Terrorists Exhanged For Deserter Bergdahl To Be Freed By Qatar In 2 Weeks

Obama VA Illegally Spending $6 Billion A Year

Leftist Nightmare Update: Hawaii Shutting Down $205 Million Obamacare Exchange (Video)

Thanks Barack… Illegals Charged With 200 Counts Of Sexual Assault Against NC Children In March

Email-gate Update: Federal Judge Reopens Case Against Hitlery

Thanks Barack… Federal Regulation Cost American Businesses And Consumers $1.88 Trillion In 2014

Regime Lawyers Finally Admit Obama Violated Federal Injunction By Approving 2,000 Amnesty Applications

The IRS Hates Tax Cheats… Unless They Work For The IRS

Contrary To Democrats’ Promises, Emergency Room Visits Surge Under Obamacare

Infernal Revenue Service Wasted $5.6 Billion On Bogus Obama Stimulus Tax Credits

Obamanomics: Major U.S. Retail Chains Closing 6,000 Stores

U.S. Economy Slows To A Crawl As GDP Grows A Scant 0.2% In First Quarter

Leftist Corruption Update: IRS Watchdog Recovers Thousands Of Missing Lois Lerner Emails

Thanks Barack… ‘Dreamer’ Accused Of Multiple Murders Was Spared Deportation By Obama

Leftist Corruption Update: Multiple Clinton Charity Donors Got State Department Awards Under Hillary

Obama-Backed Islamist Mohamed Morsi Sentenced To 20 Years In Prison For Torturing Protesters

Shocker! California’s Obamacare Exchange Plagued By Incompetence, Mismanagement

USSC Shuts Down Obama’s Attempt To Force Christian Groups To Pay For Their Employees’ Abortion-Inducing Drugs

FL Governor: Obama Resorting To Extortion In Attempt To Force State Further Into Obamacare

Thanks Barack… Over Half A Million Illegals Have Received Social Security Numbers Since 2012 Executive Order

Hillary Deleted Emails After Congressman Issa Asked Her About Private Email Addresses In 2012

AZ Sheriff Says He Can’t Get The Names Of 500 Criminal Illegal Aliens Released In His County By Obama

VA Officials Illegally Accessing Medical Records Of Whistleblowers In Order To Harass And Discredit Them

Obama’s Insane Nuke Deal Causes Russians To Lift Ban On Missile Sales To Iran – Israelis Not Happy Campers

Amazing Douchebaggery: Defense Dept. Claims Bible, Constitution And Declaration Of Independence Perpetuate Sexism

Federal Judge Slaps Down Obama Regime’s Request To Let Executive Amnesty Move Forward

Tehran Will Start Using Fastest Centrifuges On Day Obama Nuke Deal Takes Effect

Social Security Administration Approved Disability Benefits For Puerto Ricans Because They Can’t Speak English

The Bats And The Bees: Obama’s Easter Sunday Nightmare (Video)

Just Hours After Obama Boasts About Historic Nuke Agreement, Iran’s Lead Negotiator Calls Him A Liar

Leftist Incompetence Update: Obama Regime Capitulates To Nearly All Iranian Demands In Nuke Deal

Impeachable Offenses Update: Obama Using Taxpayer Money To Fly Central American Minors To U.S.

Timeline Puts Lie To President Asshat’s Story About Bowe Bergdahl

Infernal Revenue Service Ignoring Over 60% Of Taxpayer Phone Calls

Maryland Obamacare Exchange Wrongly Billed U.S. Taxpayers $28M

Clinton Crime Update: Private Emails Reveal Ex-Hillary Aide’s Secret Spy Network

*VIDEO* General Michael Flynn: Obama Has A “Policy Of Willful Ignorance” Regarding The Middle East

Clinton Crime Update: Hillary Scrubbed Email Server Clean After Being Subpoenaed To Turn Over Emails

Even NBC Thinks Obama Is Completely Incompetent When It Comes To Middle East Policy (Video)

Obama Regime Declassifies Top-Secret Document That Reveals Israel’s Nuclear Secrets

About Freakin’ Time! Obama’s Favorite Army Deserter To Be Court-Martialed

Republicans Verbally Bitchslap FDIC Chairman Over Despicable ‘Operartion Choke Point’ (Videos)

Over 100,000 Federal Employees Owe Back Taxes Totaling $1.4 Billion

State Department Had No Permanent Inspector General During Entirety Of Hillary Clinton’s Tenure

Leftist Corruption Update: Hillary’s Aides Emailed Her About Benghazi From Their Private Email Accounts

Border Patrol Agent To Congress: We Are Punished If We Report Too Many Illegals (Videos)

President Asshat Enjoys Women’s College Basketball Game As U.S. Troops Flee Yemen

A Complete Timeline Of Obama’s Anti-Israel Hatred (Ben Shapiro)

Supreme Leader Of Iran Calls For ‘Death To America’ As Traitor John Kerry Hails Progress On Nuke Deal

Half A Billion Dollars Worth Of American Weapons Fall Into The Hands Of Islamo-Nazis… Again

Veterans Still Struggling To Get Medical Treatment As Obama Regime Continues To Lie To Congress

Your Daley Gator Obama-Is-Pure-Evil Diplomatic Catastrophe Update (Videos)

Federal Judge Not A Happy Camper After Being Lied To About Excutive Amnesty By Obama Regime

President Asshat Humiliated As Allies Rush To Join China’s New Bank

Thanks Barack… 167,527 Illegal Alien Murderers, Rapists And Child Molesters Loose In The U.S. (Video)

Federal Government Shelled Out $125B In Bogus Payments Last Year

Iran Nuke Deal Update: Obama Regime Goes Full-Blown Batshit Crazy

U.S. State Department Uses British IslamoNazi’s Pro-Sharia Law Photograph To Promote Free Speech (video)

In 2008, Candidate Obama Sent Secret Emissary To Iran Telling Them Not To Negotiate With Bush (Video)

Your Daley Gator Hillary Email Shenanigans Update

Obama’s FCC Nazis: The First Amendment Does Not Apply To Internet Providers

Ferguson: A Murderous Mob Incited By Holder And Obama (Joel B. Pollak)

Corruption Update: Hillary’s Top State Department Aides Used Private Emails Too (Video)

Traitor John Kerry Now Says Obama Regime “Not Negotiating A Legally Binding Plan” With Iran

Obama’s ATF Backs Down (For Now) On AR-15 Ammo Ban, Acknowledging Massive Public Outcry

Obama Caught Lying About Hillary’s Illegal Emails (Videos)

Obama Regime Ordered Back To Federal Court To Explain Why It Lied About Executive Amnesty

National Intelligence Director Clapper Admits Obama Arming Terrorists But Calling Them ‘Moderates’ (Video)

Inspector General: 6.5M Dead People Have Active Social Security Numbers

Hallelujah! Unemployment Plunges Due To 354,000 Americans Leaving The Workforce (James Quinn)

26 States Call For Investigation Of Obama’s Executive Amnesty Scheme And Federal Court Perjury

*VIDEO* Obama Comments On Netanyahu’s Address To Congress

Hillary Clinton Exclusively Used Private Email Account To Conduct Official Business As Secretary Of State

Corruption Update: DOJ Shut Down Search For Lois Lerner’s Emails; First IRS Tech Inspector Legally Blind

IRS Inspector General Now Undertaking Criminal Investigation Into Lois Lerner’s “Missing” Emails

Documents Reveal Top Hillary Clinton Advisers Knew Immediately That Benghazi Assault Was Terrorist Attack

Lawless Leftist Update: Obama Attempting To Ban AR-15 Ammo

ObamaNazis At FCC Approve Net “Neutrality” Rules

President Asshat Makes Japanese Internment Camp A National Monument In Attempt To Vilify America

Obama Regime Summit On Violent Extremism Opens With A… Wait For It… Muslim Prayer

*VIDEO* Joe Biden: Our Creepy, Gropey, Pervy, Leftist Vice President

*VIDEOS* Pajama’s Media: Trifecta – Obama’s Insanely Idiotic, Bullshit-Leftist, Anti-War War On ISIS

Federal Judge Slams The Brakes On President Asshat’s Executive Amnesty Scheme

Leftist Politicians Beg Obama To Illegally Change Obamacare Rules So Their Constituents Can Avoid New Tax Penalties

Undocumented Democrats Update: Obama’s Executive Amnesty Creates Easy Loophole For Illegals To Vote

IRS Thanks Iraq War Veteran By Seizing Nealy $1 Million From His Legal Gun Business’ Bank Account (Video)

President Asshat Attempts Internet Power Grab… Again

Obama Regime Continues To Stonewall On IRS Targeting Scandal (Video)

Eco-Nazis At EPA Caught Concealing Controversial Scientific Data, Trying To Silence Skeptics

Buried In The Numbers: Obamacare’s Costs Are Climbing, Not Receding (Sally Pipes)

*VIDEO* The Trillion-Dollar Obamacare Tax Tsunami Is Upon Us

Arizona Sheriff To House Judiciary Committee: Only 44% Of Southern Border Under Operational Control

Thanks Barack… Student Loan Forgiveness Program To Cost Taxpayers $21.8 Billion

The New York Post’s Editorial Board Asks Us A Really Good Question About Obama

Attorney General Nominee Loretta Lynch Tied To Massive Obama Money-Laundering Cover-Up

Obama “Dreamers” To Get Retroactive IRS Refunds For Money They Earned While Working Illegally

Secret White House Muslim Meeting Guest List Won’t Be Released – What Could Be The Reason For That? (Rick Wells)

Two-Thirds Of Reporters Say Obama Regime Spies On Them

President Asshat Equates Muslim Terrorists To Christians During National Prayer Breakfast (Video)

Obamaconomy Update: Number Of Full-Time Jobs As Percentage Of Population Lowest It’s Ever Been

Obama Regime Unlawfully Issued Work Permits To Nearly A Million Illegals; Green Cards To 5.5 Million More

47 Inspectors General Accuse Obama Regime Of Stonewalling In Variety Of Scandal Investigations (Video)

Thanks Barack… Terrorist Mastermind Traded For Bergdahl Is Back At Work

Ted Cruz’s List Of 76 Abuses Of Power And Lawless Actions By The Obama Administration (Ed Brown)

Obama Props Up Muslim Brotherhood In Egypt While Simultaneously Attempting To Oust Netanyahu In Israel

Nevada And Tennessee Join 24 Other States Suing To Stop Obama’s Executive Amnesty

Obama Regime Forced To Pay $570,000 To Pro-Life Legal Group Over Abortion Pill Mandate

Obama Foreign Policy Collapse: Yemen President, Prime Minister Resign After Muslim Terrorists Overrun Government

Day After Obama Mentions eBay As Example Of Booming Economy In SOTU, Company Lays Off 2,400 People

Company Fired By HHS Over Botched Healthcare.Gov Rehired By IRS To Provide Support For Obamacare Tax Program

*VIDEO* Pissed Off Black Folks From Chicago Verbally Bitchslap Obama After 2015 SOTU Address

President Asshat Refered To Himself 75 Times During SOTU Address Few People Watched

*VIDEOS* Even Noted Leftist Douchebags Agree That Obama’s SOTU Foreign Policy Claims Were Bogus

House Democrats Unanimously Agree That Obama Should Be A Dictator

Obama Regime Blows Off Largest Anti-Terrorism Rally In The History Of France (Video)

Leftist Corruption Update: 3.4M Obamacare Subsidy Recipients May Owe Refunds To The IRS

2014 Federal Register: A 26-Foot-Tall Stack Of Neo-Fascist Regulations

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*VIDEOS* Your Daley Gator PJTV Trifecta Double Whammy


NOT EVEN CLOSE: ISN’T OBAMA’S ECONOMIC GROWTH HISTORIC?

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FAKE GUN STORE SOLD FAKE GUNS TO FAKE PEOPLE, FIND OUT WHY

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*VIDEOS* Scott Walker: Florida Economic Growth Summit – 06/02/15


PART 1

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PART 2

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Obamaconomy Update: Factory Orders Scream Recession, Drop 6% From Year Ago

Factory Orders Scream Recession, Drop 6% From Year Ago In Sixth Consecutive Drop – Zero Hvedge

Following this morning’s disappointing tumble in ISM New York (with 5 of the 6 components plunging), Factory Orders tumbled 0.4% MoM in April (against expectations of a modest 0.1% decline). This comes after March’s exuberance-inspiring upwardly revised 2.2% MoM surge (which ended a 7 month streak of MoM drops). Down 6.4% against 2014, this is the 6th month in a row of YoY declines in Factory Orders – something not seen previously outside of a recession. Stocks love this terrible news (for now).

Here’s what we said going in…

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zerohedge
@zerohedge

NY ISM not bad enough to support stocks. Factory orders will have to be really ugly

9:46 AM – 2 Jun 2015
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And sure enough, it was dismal…

Recession?
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On a MoM basis, the picture is even worse… 9 misses in the last 10 months… 8 negative prints in the last 9 months

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