Oct 21, 2011, 10:41 am EDT
With friends like Donald Trump and Vikram Pandit, does Occupy Wall Street need enemies?
Both The Donald and the Citigroup (NYSE:C) CEO recently have said that they sympathized with the views of the Occupy Wall Street movement — bizarre statements considering Trump and Pandit are examples of the corporate greed that has infuriated the masses.
Take Trump. There is no greater living symbol of the excesses of capitalism. For Pete’s sake, the man sells his own branded water and the Donald J. Trump Signature collection of apparel! Never mind the ease with which he navigates bankruptcy (his companies or properties have filed for bankruptcy four times). No, Trump decided that he could speak for the common man. Read
Oct 20, 2011, 12:03 pm EDT
There’s a lot of fuss about United States Postal Service profitability (or lack thereof) these days. Ideas to streamline the USPS include closing post offices in rural locations, eliminating Saturday mail delivery and other cutbacks.
But cuts aren’t the only way to bridge the budget gap at the USPS. To create more revenue, U.S. postage rates are about to go up — again!
Starting Jan. 22, the price of a first-class stamp will go up a penny, from 44 cents to 45 cents. Postcard stamps will jump more than 10%, from 29 cents to 32 cents. Read
Oct 19, 2011, 4:34 pm EDT
Social Security checks will see their first increase in three years this January. The Social Security COLA, or Cost of Living Adjustment, will amount to 3.6%.
But seniors should be outraged by the Social Security increase — because it isn’t an increase at all. The fact is the government program is paying less than it has in years past, and the recent COLA “increase” doesn’t make up for the ground that seniors have already lost.
Thanks to inflation pushing up prices and a stagnant economy hindering income, many senior citizens rely on their monthly Social Security check more than ever before. And on its face, an increase going into 2012 seems like a good thing. But here’s why the recent Social Security COLA is woefully deficient — and just a political move to appease older voters who have every right to be furious: Read
Oct 18, 2011, 2:06 pm EDT
Republican presidential hopeful Mitt Romney has raised about six times as much cash from the employees of Wall Street firms as has President Barack Obama, according to a New York Times analysis of recent campaign finance filings. This discrepancy is particularly noteworthy, given that the financial services industry was a major backer of Obama’s 2008 campaign. In fact, Goldman Sachs (NYSE:GS) was Obama’s biggest supporter in the private sector: Its workers coughed up $1 million last time around.
So far in this election season, that same group has offered up a mere $45,000 for the president, dwarfed by the $350,000 they have given to the Romney campaign.
What’s changed in three years? Bear with me as I point out the obvious. Read
Oct 17, 2011, 4:27 pm EDT
The latest plan to preserve the European Union (EU) and save the global banking sector is to force European banks to increase their equity capital.
The goal, of course, is to restore confidence and stability. But if that’s the case, then why are so many analysts and savvy investors still nervous?
To put it bluntly, it’s because they know it won’t work. Read
Oct 17, 2011, 5:30 am EDT
Wall Street is dancing to Greece’s (and by extension Europe’s) whistle. If Greece says “jump,” Wall Street jumps. If Greece says, “Sorry, false alarm,” Wall Street cries.
This sorry dance has been going on for nearly two years. Like an endless loop of chicken dance, this might be fun at first (for about two minutes), but it gets old real fast. If you are tired of Wall Street’s chicken dance coverage and want to know what’s really going on and how to make money (or protect your assets), here’s a no nonsense assessment of Europe.
Greece — Fool Me Once …
Fool me once, shame on Greece, fool me twice, shame on me. Greece has been the scapegoat for every major sell-off and catalyst for most rallies and dead cat bounces since January 2010. Read