A friend sent this to me over the weekend, I thought you might find the premise interesting.
The Ukraine buys almost all its energy (natural gas) from Russia. Revenues from natural gas sales are a primary source of income for Russia.
Because of the recent disagreement between the Ukraine and Russia, Russia is raising the price of the natural gas it sells to the Ukraine.
The Ukraine is almost broke and can't afford the increase in the natural gas price because it would be forced into bankruptcy.
Obama just announced the United States is giving the Ukraine $1 billion to assist in paying for the higher priced natural gas it buys from Russia. Continue reading "Obama Gives Putin A Billion Dollars!"
This week we examine ways in which inflation nibbles away at your retirement income, especially in light of the President’s proposal for Chained CPI adjustments to Social Security. The formal title is Chain-weighted Consumer Price Index and it’s a variation of how the government figures out what is what we would call "inflation." Either way, with the low rates on offer from CDs and other "safe" investments, investors who don’t take action fall behind every year.
Unfortunately, the numbers show what most people don’t want to face: the days of relying on Social Security plus a few stable bonds and CDs are long over. To earn decent and sustainable returns, investors must search beyond traditional safe havens. Continue reading "Will Obama's Chained CPI Help Keep Inflation from Eating into Your Savings?"
Mixing modest curbs on spending with tax increases reviled by Republicans, President Barack Obama proposed a $3.8 trillion budget on Wednesday that would raise taxes on smokers and wealthy Americans and trim Social Security benefits for millions.
Obama's 2014 blueprint combines a $242 billion infusion of new spending for road and rail projects, early education and jobs initiatives all favored by Democrats with longer-term savings from programs including Medicare and the military. It promises at least a start in cutting huge annual federal deficits.
The president pitched his plan as a good-faith offer to his GOP rivals since it incorporates a proposal he made to Republicans in December that wasn't radically different from a GOP plan drafted by House Speaker John Boehner. But it follows January's bitterly fought 10-year, $600 billion-plus tax increase that has stiffened GOP resolve against further tax hikes. Continue reading "Obama budget: Spending cuts, higher smokers' taxes"
That whistling sound every investor heard on Wednesday morning was the sound of stocks in freefall after the Obama election victory.
Losers weren’t hard to find. Share prices were falling hard among Wall Street’s canyons as financial companies took a swan dive.
Morgan Stanley took the biggest hit with a loss of 8%. Bank of America was off more than 6%, and JPM Morgan came in at the top of the heap with a 5% decline.
Obviously investors and financial giants fear a major regulatory crackdown from the Obama White House. Continue reading "Guess Who's Cashing in on Obama"
With the elections drawing closer and the first debate of the process tomorrow, we want to ask you...