The Walk: August 2014

Saturday, August 9, 2014

Under current law, a large share of tax benefits for retirement saving accrues to high-income employees. We simulate the short- and long-term effect of three policy options for flattening tax incentives and increasing retirement savings for low- and middle-income workers. Our results show that reducing 401(k) contribution limits increases taxes for high-income taxpayers; expanding the saver's credit raises saving incentives and lower taxes for low- and middle-income taxpayers; and replacing the exclusion for retirement saving contributions with a 25 percent refundable credit benefits primarily low- and middle-income taxpayers, and raises taxes and reduces retirement assets for high-income taxpayers.
Read More... [Source: Urban Institute: Retirement and Older Americans]

Even if you don't have long distance, you can be billed for toll calls: Plain Dealing

Here's a simple trick to help you identify which landline calls will cost you money.
Read More... [Source: Business]

Gold News A Chinese Gold Standard

Gold News: ; Gold News; A Chinese Gold Standard . By Star from Bloomery, West Virginia It is interesting to see China get involved in gold. It makes me wonder if 10 years from now gold will be the new oil. Everyone around the world will be fighting for gold. By that time, maybe China will have all the gold, ...
Read More... [Source: Gold Investing Strategies New Messages]

Hang Seng Surges 1.7%, Shanghai Up on Energy Stocks

Stocks in Hong Kong and Shanghai increased after investors shrugged off the latest bank reserve tightening. China energy stocks gained after crude oil prices increased. Kweichow Moutai Co, China’s largest liquor maker said 2010 net rose 17%.
Read More... [Source: 123Jump.com: China Market News]

Since George Steinbrenner died last week, the Boss has gotten a lot of press -- for returning the Yankees to their winning ways, for ushering in an era of big spending in sports and for amassing a reputation as one of baseball's most vilified owners. But there's another element of the Boss's life...

Obama: 'We tortured some folks'

A CNN panel reacts to President Barack Obama admitting that the U.S. has implemented torture methods in the past.

Read More... [Source: CNN.com - Politics]

Guinea shuts borders with Sierra Leone, Liberia in bid to halt Ebola

CONAKRY (Reuters) - Guinea closed its borders with Sierra Leone and Liberia on Saturday in a bid to halt the spread of an Ebola epidemic that has killed nearly 1,000 people in the three countries this year.

Read More... [Source: Reuters: World News]

MarginCalculator.com

Margin Calculator is the simple solution to the complex problem of margining forward-settling trades, particularly TBAs, specified pools, Agency MBS and CMOs. Comply with the SIFMA/TMPG recommendation without installing software. Upload counterparties and open trades, download margin reports.
Read More... [Source: Bobsguide Product List: Middle and Back Office Solutions]

Flyers to be screened for Ebola at Mangalore airport

State Health Minister U T Khader appealed to the public to postpone all journeys to the ebola-infected countries.
Read More... [Source: Healthcare/Biotech-Industry-The Economic Times]

Technology to promote transparency around land acquisitions

This short, desk-top study investigates and reviews how technology is being used in developing countries to promote transparency around land acquisitions. This includes reactive solutions to identify and highlight what land acquisitions have taken place and proactive solutions that promote and protect land rights from future land acquisitions.

A Chicago Convention Center, LLC, Anshoo Sethi, and Intercontinental Regional Center Trust of Chicago, LLC

SEC Obtains Settlements in $150 Million EB-5 Immigrant Investor Offering Fraud
Read More... [Source: SEC.gov Updates: Litigation Releases]

Africa’s Jihadists, On Their Way

Extremism flourishes amid poor governance
Read More... [Source: YaleGlobal Online ------ Politics]

Nine surrogate babies found in Bangkok condominium: police

BANGKOK (Reuters) - Thai authorities are investigating the discovery of nine surrogate babies in a Bangkok condominium who are believed to share the same Japanese biological father, police said on...

Read More... [Source: Reuters: Lifestyle]

Patterns of Abuse, Patterns of Approval

New York Magazine’s much-loved “approval matrix” is about to hit the airwaves. The magazine’s editor Adam Moss and comedian Neal Brennan, the show’s host, discuss the new TV show. Plus: a new report describes a culture of abuse at Riker’s Island; why some people do just fine with only five hours of sleep a night; and a look at how improvements in gay rights have shifted the sexual identities of straight people.

Dollar rally here to stay as improving U.S. economy stirs rate hike debate

LONDON (Reuters) - The dollar's rally looks set to continue, according to a Reuters poll, as the U.S. economy is picking up smartly and raising market speculation about how soon the Fed will have to lift interest rates.

Новый мир здравоохранения

НЬЮ-ЙОРК – Традиционные системы здравоохранения переживают не лучшие времена. В странах ОЭСР дорогостоящие больницы и клиники являются преобладающим видом медицинских услуг и на них приходится 97% расходов США на здравоохранение. Эти системы с трудом справляются с такими проблемами, как ценовые…

Nomura Asset Management on Wednesday announced an alliance with Bridge Capital Asset Management Co., a Tokyo-based hedge fund incubation firm.
Read More... [Source: ]

Maneka Gandhi lends support to Akshay's 'Entertainment'

Akshay, who turned up late for the event citing poor health, said he would be happy if anyone ends up adopting a dog after watching this film.
Read More... [Source: Media/Entertainment -Industry-The Economic Times]

Tech Stocks: Apple, Microsoft on the rise with earnings on tap

Apple and Microsoft, two of the biggest names in the tech sector, saw their shares rise as investors await their earnings reports.
Read More... [Source: MarketWatch.com - All MarketWatch News - NOK]

Alliance Trust's Katherine Garrett-Cox under pressure for change

Brewin Dolphin's interest in examining a change of management at Alliance Trust cannot be ignored.

Video: Home Security Systems Are Wise Investments

Home security systems are designed to protect you and your family. Installing home security cameras and other devices improve your security. Finding the best home security system for your home can be tricky but there are many options available. Look for home security systems that offer the most protection for the best value and protect your assets.
Read More... [Source: Video: Home Security Systems Are Wise Investments]

4 bank fixed deposits where there is no penalty on breaking the deposit before maturity

Most of the banks levy a penalty of as much as 1 per cent on breaking a fixed deposit (FD) before maturity. However, select banks and select fixed deposit schemes of these banks do not attract a penalty of one per
Read More... [Source: Tax Saving Investments | Tax Saving Tips & News | Income Tax India – Oneindia Money]

El Paso Community Foundation Grants

Grants to organizations that work in the areas of arts, education, environment/animals, health, disabilities, human services, and economic development. Geographic coverage: West Texas, southern New Mexico and northern Chihuahua, Mexico. --
Read More... [Source: Economic development funding opportunities via the Rural Assistance Center]

Plakataktion zum WEF

Auf unserem nächtlichen Spaziergang durch Zureich vom 23. auf den 24.01 haben wir an unterschiedlichen Stellen unsere Spuren im Zusammenhang mit dem diesjährigen World Economic Forum in Davos hinterlassen.
Read More... [Source: ch.indymedia.org | WEF | mixed]

Coal kabuki and climate

In case you missed, Ken Ward over at Coal Tattoo has some things to say about how West Virginia's leaders might deal with the whole Obama/climate change/EPA thing. I'm not holding my breath though.

Still, it's impossible to deny that these are tough times in the coalfields. Alpha Natural Resources recent layoff announcement is just another case in point.

That's all the more reason why we need to start talking now about economic transition.

Read More... [Source: The Goat Rope]

By: Ross Williams

If the investments in your retirement portfolio currently trade at 50% of your purchase price, it’s very dangerous to think that you haven’t lost any ‘money’ because you haven’t realized the losses.It is equally dangerous to think you have made "money" if you haven't realized the gains. In both cases, you still own the same stock you bought and until you sell it you haven't lost or made any money. If you own Home Grocer stock, there are plenty of reasons other than the market estimate to wonder about how much value it has. When your house burns down you don't need market comparables to know its worth less than what you paid for it. Your logic dictates that investors in these companies haven’t lost any money over the past 6 years.Where is the money they lost? The spent money to buy stock, they still own the stock. Until they sell it they don't know how much money they have lost. The market is giving them an estimate - but that's all it is. There are plenty of reason's to think the current market does not provide a very good estimate.
Read More... [Source: Comments on: Investing in a Bear Market]

Enthused by the regime change at the Centre real estate sector turns bullish

â€‹With the regime change at the Centre real estate developers and lenders appear to be have turned highly optimistic about the sector's prospects.
Read More... [Source: Realty Trends-Real Estate-Markets-The Economic Times]

By: Julie

I'm pretty risk-averse by nature and I'm trying to figure out what's the best use for a CD that's just matured. We have a highly unusual mortgage as a benefit from my husband's employer. 4.5% for 30 years, but the unusual thing is the repayment structure. The terms of the mortgage require us to pay no principal and only 1/2 the interest (2.25%) annually if the house does not appreciate in value. If the house appreciates, we pay either the amount of appreciation or 2.25%, whichever is less. There is no requirement to pay the principal until the end of the loan (30 years or when we sell the house). This is obviously a great deal for a loan, but I'm not sure what our strategy should be for paying down the principal. We have a CD that just matured that would cover 2/3 of the principal of this loan and we're trying to figure out how much of it we should pay down versus invest or save as an emergency fund. Any thoughts?
Read More... [Source: Comments on: Ask the Readers: Is It Better to Invest or to Prepay a Mortgage?]

The Tesla Model III Will Offer a Clean Test of the Coase Conjecture

It has been reported that a $35,000 Tesla make will be sold in the year 2017. How will the expectation that you can buy this make in the medium term affect the pricing of Tesla vehicles today? The Coase Conjecture would predict that Tesla will have to drop its prices today if these two makes are close substitutes. Whether they are close substitutes is an empirical question but I can offer one data point. I was preparing to buy a Tesla but I now plan to wait and buy the $35,000 version in 3 years. Am I typical?

What is the Coase Conjecture? These slides provide an answer;

"In the paper “Durability and Monopoly,” Nobel Laureate Ronald Coase proposes the startling
hypothesis that the monopoly seller of a durable good will tend to price at marginal cost, absent
some mechanism for committing to withhold supply. (Such mechanisms include leasing rather
than selling, planned obsolescence, increasing marginal cost (which makes delay rational), and
promises to repurchase at a fixed price.) The logic takes three steps. First, having sold the
monopoly quantity at the monopoly price, the seller would like to sell a bit more, because the
seller need not cut price on units already sold. Second, consumers will rationally anticipate such
price cuts, and thus will hold out for future prices. Third, if the seller can change prices
sufficiently fast, the path must go to marginal cost arbitrarily quickly, that is, the price will be
marginal cost. This idea came to be known as the Coase conjecture.

Essentially the Coase conjecture holds that a monopolist compete with future incarnations of
himself. Even though the most profitable course of action is to sell the monopoly quantity
immediately, and then never sell again, the monopolist cannot resist selling more once the
monopoly profit is earned. That is, subgame perfection condemns the monopolist to low profits."

Read More... [Source: Environmental and Urban Economics]

Faswin Fixed Asset Register Standard Edition

Used by accountants worldwide to manage their fixed asset register. Faswin Standard Edition limited to 1000 assets and is single-user....
Read More... [Source: Business & Finance - Business Finance shareware and freeware download]

FN asks whether local government schemes, and corporate schemes, can come together to foster greater collaboration
Read More... [Source: ]

Angelina Jolie's movie, "In the Land of Blood and Honey," does not purport to tell us how conflicts like the one in Bosnia in the early 90's can be avoided, but it builds a mighty strong case for worrying about that question. It cries out for us to think about which present-day tensions or low-level conflicts are Bosnias-in-waiting, says the Institutes Center for International Development and Governance director Charles Cadwell in this commentary for the McClatchy News Services.
Read More... [Source: Urban Institute: International Issues]

The hotel wore Prada?

Designers turned hoteliers? Suites as couture showrooms? We look inside the world's most fashionable hotels.

Financial Advice for People Who Are Not Super-Rich

The 52-year-old Journal
of Financial Education

In 1969 I moved to New York City with a Ph.D. in hand to be a finance professor at Baruch College of the City University of New York.

During the next few years I was continually surprised by the gap between the sophistication of financial theories and the primitive misunderstanding of financial markets among the general public.

In 1972 I decided to do something to help improve financial literacy and started a new journal, the The Journal of Financial Education. I wrote a letter to members of an association of university-level finance teachers and got a response rate of about 10 percent. Now, 52 years later, the journal is still going strong.

At that time, a popular view was the idea that the stock market was a "random walk". Princeton Professor Burton Malkiel's book with those words in the title appeared in 1973. Getting an edge on the market legally was thought to be difficult or impossible. What carried investors was a general rise in the stock market, not so much anyone's ability to predict a particular stock. Along with the potential of more return went greater risk and at the end of the day you paid for your greater potential with more volatility, and one balanced off the other.

My view today is that it is possible to do better than the average investor, through methods both legal and illegal:

Better and faster information and execution of trades
Smarter investment analysis.
Activities that are illegal but are not enforced.
Activities that should be illegal but are not.

Michael Lewis's new book on the Flash Boys shows how front-running makes huge profits even if the advance information is only a matter of fractions of seconds. Traders make a profit by being ahead of the market. Large profits are possible at the expense of slower traders.

The problem for the small investor is figuring out how they should proceed, with questions like:

Who are the smarter money managers?
Are they leaving anything for their clients after they take their fees and profit shares?

People who can't beat the market when they pick stocks on their own are unlikely to be able to pick with any assurance the best money market managers, offering reasonable rates. Index funds came into fashion, led by Vanguard and its founder Jack Bogle, as a way of keeping down the cost of mutual funds. That's one option, minimize trading and money management fees.

Finding financial advisers without a stake in your decision are another alternative. But these advisers in the past have only been interested in middle-sized and large investors. Now there are new start-ups that offer financial advice for smaller investors.

Here's a description of one of them called FutureAdvisor that looks interesting.

Three cheers. It's about time that the little guys had more choices in how they are guided in making decisions.

Read More... [Source: CityEconomist Update]

UPDATE 2-ExxonMobil starts drilling for oil in Russia's Arctic

SOCHI, Russia, Aug 9(Reuters) - U.S. oil giant ExxonMobil began drilling in Russia's Arctic on Saturday, despite Western sanctions imposed on its Russian partner Rosneft, and was hailed by Russia's president as an model of "cooperation".

Read More... [Source: Reuters: Company News]