The surging price of New York's taxi medallions and their promise of steady cash flows have sparked investor interest in the licenses and bolstered shares of a company that finances their purchase to a four-year high.
Investors are pooling funds to buy the six-inch-wide aluminum disks affixed to the hoods of cabs after two of them sold for a record $1 million each last month, said Andrew Murstein, president of ... (more)
...but my government school teacher told me the government is here to prevent monopolies!
"The question is, how can we get the ox out of the ditch?" Mr Skinner said. "In order to create jobs in America, you're going to have to cut taxes… particularly in the business community.
"We pay some of the highest [corporate] taxes around the world. There needs to be some levelling."
Asked about federal borrowing, he said: "It's not a good story… the government has to spend less. We have to grow the economy, grow GDP… and you have to be able to do it in an organic... (more)
In late 1998, Chesapeake Energy Corp. (CHK), an independent natural-gas producer based in Oklahoma City, exemplified an industry in decline.
The company’s stock price had fallen over two years from above $34 a share to 75 cents. Its market value tumbled 93 percent, to $72 million. “They’re running up a down escalator,” Michael Spohn, an analyst at Petroleum Research Group, said.
When Aubrey K. McClendon, Chesapeake’s chief executive officer and co-founder, announced... (more)
That is, if the government and environmentalists don't ban it. - Chris
I think I know some lab mice that have received less examination than the 2012 Republican primary candidates. It seems with each passing cycle, the campaigning starts earlier, there are more debates, and the media frenzy gets more intense. Yet, with all the pyrotechnics and pageantry, it becomes difficult to figure out what these tricksters actually think when they're behind the curtain. Since the gold price is inextricably linked to the long-term fate of the US dollar, it's rather im... (more)
The most accurate forecasters say gold will rebound from its biggest monthly plunge since 2008 and reach a record by March because economic growth is stagnating and Europe’s debt crisis is unresolved.
Futures traded in New York may rise 13 percent to $1,950 an ounce by the end of the first quarter, according to the median of estimates compiled by Bloomberg. The predictions are from eight of the top 10 analysts tracked by Bloomberg over the past eight quarters. Two declined to give... (more)
Nov 2, 2011 - International investor Jim Rogers argues the U.S. markets are inferior to Europe and the next economic slowdown will be much worse than 2008.
Do you want to feel optimistic about the U.S. economy? If so, you might not want to read the rest of this article. In many areas of the United States today, you can almost smell the fear and the anxiety in the air. Survey after survey has found that the American people are extremely pessimistic about the direction the economy is headed. In fact, many recent surveys have found that economic pessimism is at the highest levels ever recorded. There has been an astonishing loss of faith in the s... (more)
Do you hear that sound? It is the sound of Europe being hit with a cold dose of financial reality. The air has been let out of the balloon, and investors all over the world are realizing that absolutely nothing has been solved in Europe. The solutions being proposed by the politicians in Europe are just going to make things worse. You don't solve a sovereign debt crisis by shredding confidence in sovereign debt. But that is exactly what the "voluntary 50% haircut" has done. You don't solve... (more)
Lest anyone think that people in the media actually know something about economics, this story from Connecticut lays out the utter ignorance of the MSM. The story tells about long lines up to a half-mile long at Connecticut gas stations following the big snowstorm.
There is also this gem, which the reporter puts in without understanding what is happening:
Bolivia, Kazakhstan, Tajikistan and Thailand spent a collective $1.52bn (£942m) buying 26.7 tons of gold. However, the Mexican central bank was a seller, reducing its holding by 0.1 ton, according to data compiled by Bloomberg.
Thailand's gold reserves rose 11pc to 152.41 tons and Bolivia's bullion reserves increased 17pc to 49.34 tons. Bolivia increased its holdings by 5pc to tons and Tajikistan's bullion stockpile increased 26pc to 4.74 tons.
Peter Schiff joins European Parliament Member Daniel Hannan on Huckabee to discuss how increasing government regulation, oversight, and taxes has set back America's economy and created the Occupy Wall Street movenment. Air Date: October 28, 2011.
"They should be frustrated with the government; that's what's wrecked the economy, not capitalism," says Peter Schiff on Fox & Friends. Schiff says he sympathizes with the Wall Street Occupiers' outrage but his understanding of the free market tells him anger should be directed toward Washington DC instead. Air Date: October 28, 2011.
Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. They discuss the fateful decisions that led to hyperinflation in post-First World War Germany, and how central bankers as well as ordinary members of the public today would be well advised to heed this warning from hi... (more)
Have you heard the good news? Financial armageddon has been averted. The economic collapse in Europe has been cancelled. Everything is going to be okay. Well, actually none of those statements is true, but news of the "debt deal" in Europe has set off a frenzy of irrational exuberance throughout the financial world anyway. Newspapers all over the globe are declaring that the financial crisis in Europe is over. Stock markets all over the world are soaring. The Dow was up nearly 3 percent t... (more)
Last week, I spent the afternoon visiting the Occupy Wall Street demonstrations in lower Manhattan. I brought a film crew and a sign that said "I Am The 1%, Let's Talk." The purpose was to understand what was motivating these protesters and try to educate them about what caused the financial crisis. I went down there with the feeling that much of their anger was justified, but broadly misdirected.
Indeed, there were plenty of heated discussions. I did little more than ask how muc... (more)
Defense giant Lockheed Martin had a totally sweet quarter, raking in $700 million and looking forward to the same this time next year. So it raises eyebrows when Lockheed’s anointed mouthpieces predict mass economic disaster if Congress touches the defense budget.
On Tuesday, the aerospace industry put out a report saying that chopping the defense budget would put over a million Americans out of work. Cuts that could total up to a tr... (more)
Last week, Reason.tv followed investment guru, radio show host, and unflappable defender of capitalism Peter Schiff as he spent three hours among the Occupy Wall Street protesters in Manhattan's Zuccotti Park.
An unapologetic member of "the 1 Percent," Schiff argued with all comers for the better part of an afternoon.
