It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by marg6043
reply to post by MasterGemini
He tried to get the high income earners as low as 250,000 thousand a year, but you know that most small businesses are the ones in that range, I don't think he will get to have this "Buffett Rule" pass over the Republicans, because they will be cutting their own neck off.
The rates on capital gains - which include profits from the sale of stocks, bonds and real estate - should be a key point in negotiations over how to shrink the budget deficit, some lawmakers say.
. . .
While it's true that many middle-class Americans own stocks or bonds, they tend to stash them in tax-sheltered retirement accounts, where the capital gains rate does not apply. By contrast, the richest Americans reap huge benefits. Over the past 20 years, more than 80 percent of the capital gains income realized in the United States has gone to 5 percent of the people; about half of all the capital gains have gone to the wealthiest 0.1 percent.
Something about the news-flow over the weekend seems scripted. All of the comments and actions and "leaks" seem to be following a plan. The comments are too consistent. For the first time in months it seems that they have managed to contain people willing to speak to the media to just a few senior ministry of finance officials at the largest countries. Merkel and Sarkozy have been very quiet about the Finance Minister meetings, though Merkel was busy losing another election, so that may have something to do with it. This all started after a Friday trading session that was described by many corporate bond traders as not just quiet, but as "eerily" quiet.
Back in the summer of 2007 two important things happened: the market hit an all time high, and the smart money realized what was about to happen (following the subprime and the Bear hedge fund blow up, it was pretty clear to all but Jim Cramer) and bailed out of stocks and into bonds, with Treasury holdings of Primary Dealers soaring at the fastest pace in history. Well according to the Fed, in the past few months Dealer holdings of Treasurys due in more than a year have soared by a whopping $90 billion, from a $75 billion short on May 6 to a $15.1 billion long on September 7. As Bloomberg reminds us, "the last time dealers bought bonds at such a rapid pace was between July 2007 and September 2007, as losses on subprime mortgages began to infect credit markets and the central bank unexpectedly cut interest rates." Also, as noted above, all hell was about to break loose. So what explains this surge in Dealer bond holdings? Well, expectations for said hell breaking loose all over again is one reason, as is the imminent announcement of Twist, QE3+, and who knows what else Bernanke has up his endless sleeve that will make the 2s10s as close to inverted as possible, putting Bank of America permanently out of business.
Originally posted by Vitchilo
BRICS nations already buying EFSF debt: report
WTF... Europe just doesn't care do they? Screw the people... we'll print EFSF already even without a vote!edit on 19-9-2011 by Vitchilo because: (no reason given)
Originally posted by Vitchilo
reply to post by Shenon
That or someone is getting news that there will be no QE3... we'll see wednesday.
Oil is dropping on growing concerns about Europe's ability to solve its credit crisis.
Benchmark crude lost $2.57, nearly 3 percent, at $85.42 in New York while Brent crude slipped $2.56 to $109.66 in London.
The drop mirrored a broad sell-off in stock markets. The Dow Jones industrial average, the Standard & Poor's 500 and the Nasdaq are all down about 2 percent.
The U.S. homebuilders' outlook worsened in September, as foreclosures and anxious buyers hurt construction and sales activity.
The National Association of Home Builders said Monday that its index of builder sentiment in September fell to 14 from 15. The index has been below 20 for all but one month during the past two years.
Any reading below 50 indicates negative sentiment about the housing market. It hasn't reached 50 since April 2006, the peak of the housing boom.
edit on 19-9-2011 by marg6043 because: (no reason given)edit on 19-9-2011 by marg6043 because: (no reason given)
Watch for oil prices if the dollar gets inflated, if the Fed prints more money to loan to the EUzone prices of oil will fall.