He is an asshole, but I don't think anyone deserves to be alone.

Unless of course that is what they want.

my arrows and getting my blow gun ready. Meet you by the creek. I have to do some laundry too.

I go out for just an hour, then come home with a whole bounty and nary a scratch on me

that use to bring me field mice. He was the best hunter I ever watched. First time I ever saw him he way running beside the bayou carrying a nutria that he had killed. It was almost his size. He was an abandon cat that adopted me. He always liked to show his appreciation with tokens of love.

I was blessed to have him for over 15 years. He slept in my daughter's crib and watched over her. He would play with her when she first woke up. In fact, her second word in English was cat.

are mean and vicious and have killed many an inexperienced hound by drowning them. I am impressed.

Unfortunately, for the coon, the creek wasn't very deep. The dogs were standing and the coon was treading water.

http://www.spiegel.de/international/europe/david-miliband-interview-on-the-future-of-the-uk-in-the-eu-a-881974.html

SPIEGEL ONLINE: Mr. Miliband, is Britain seriously considering leaving the EU?

Miliband: I am sorry that a loud section of the Conservative Party now advocates that position. I trust the good common sense of the British people. The unique thing about this country is that the government has put (the option of an) exit on the table. It is not that they are for an exit, but they have put it on the table alongside reform. I am pro-reform and anti-exit.


SPIEGEL ONLINE: Prime Minister David Cameron says the same thing. What's wrong with his plan to increase reform pressure in the EU?

Miliband: Cameron doesn't want to be the prime minister who takes Britain out of the European Union. He's skeptical, not hysterical about the EU. But the problem with his promise of a referendum is that Britain's relationship with Europe in the next few years is going to be defined by the danger of a potential exit, not the positive vision of reform. Also, in order to please his party, the prime minister has to demonize the current European Union. There are certainly faults and problems, but it shouldn't be demonized as this gargantuan beast that is eating up everybody's money. The EU costs the British people £1 (€1.15) per person per week.

http://www.atimes.com/atimes/Southeast_Asia/OB08Ae01.html

The South China Sea has become the epicenter of a whirlwind of escalating territorial disputes among six countries in the region - Brunei, China, Malaysia, the Philippines, Taiwan and Vietnam. Now, with pressure on new Association of Southeast Asian Nations (ASEAN) chairman Brunei and freshly appointed Secretary General Le Luong Minh (from Vietnam) to find a new way ahead, ASEAN holds the key to regional stability in the year ahead.

Expectations for the passage of a binding Code of Conduct in the disputed areas were dashed last year through disagreement among ASEAN members on how best to proceed. The issue has increasingly polarized the regional group between countries that aim to challenge China's rising assertiveness, led by the Philippines and Vietnam, and those that prefer to take a neutral


stand on the South China Sea issue and prioritize deepening economic ties.

With those splits in ASEAN, the Philippines and Vietnam have bid to reinforce their legal claims vis-a-vis China at both national and international levels. The two ASEAN members have chosen to downplay their own disputes, including in regard to features Vietnam occupies in areas the Philippines claims as the Kalayaan Island group, as they attempt to mount a more united front against China in the maritime disputes.

"There is a convergence but not congruence of interests between Hanoi and Manila," said Carlyle Thayer, a Vietnam expert at Australia's University of New South Wales. Thayer said those mutual interests were reinforced by an agreement finalized last year to conduct coordinated maritime patrols in waters where the two ASEAN countries have overlapping claims.

http://www.washingtonpost.com/business/economy/four-years-later-reform-of-rating-agencies-bogs-down/2013/02/06/20be38a4-7095-11e2-ac36-3d8d9dcaa2e2_story.html

The Justice Department’s lawsuit against Standard & Poor’s this week has revived focus on the role of the rating agencies in causing the financial crisis. Yet four years after shoddy mortgage investments bearing top grades nearly took down the country’s economy, government attempts to revamp the rating-agency industry have stalled.

Nearly everyone agrees there needs to be an overhaul of the way complex financial products get rated for their riskiness. But attempts to change the system keep running into the same roadblock: The rating agencies, however flawed, have become so crucial to the workings of Wall Street that no one can live without them.

Experts say that the Justice Department lawsuit is not enough — and that the longer the government delays broad solutions, the more vulnerable the economy is to the risks that took it down in 2008.

The lawsuit “may help the government appear to be dealing with the problem and holding the S&P to account, but that isn’t dealing with the core problems,” said Jeffrey Manns, associate professor of law at George Washington University.

http://www.washingtonpost.com/business/euro-strength-likely-to-be-a-focus-as-european-central-bank-poised-to-keep-rates-on-hold/2013/02/07/dfba27e2-70e3-11e2-b3f3-b263d708ca37_story.html

BERLIN — The European Central Bank says it is keeping its benchmark rate at a record low 0.75 percent despite pressure from hard-pressed businesses for a cut.

The bank announced the decision on a conference call Thursday.

Even though the economy of the 17 European Union countries that use the euro is in recession, there have been positive recent signals from forward-looking surveys, which likely played a large factor in the bank’s decision.

ECB head Mario Draghi is likely to face questions at the bank’s press conference about the recent strength of the euro. The appreciating currency stands to make life even more difficult for Europe’s exporters.

http://www.reuters.com/article/2013/02/07/us-usa-retail-sales-idUSBRE9160KB20130207

(Reuters) - Several U.S. retailers reported mixed January sales results on Thursday, as consumers faced a hit to their take-home pay from higher payroll taxes, while cold weather may have helped spur purchases of winter clothes.

Costco Wholesale Corp (COST.O) said January sales at stores open at least a year, or same-store sales, rose 4 percent, slightly ahead of Wall Street projections for a 3.9 percent gain.

Limited Brands Inc (LTD.N) breezed past expectations, buoyed by its Victoria's Secret stores and a major improvement at its struggling La Senza chain.

Other retailers reporting stronger-than-expected sales were the teen-oriented Zumiez Inc (ZUMZ.O), which raised its profit forecast, and department store chain Stage Stores Inc (SSI.N).

http://www.reuters.com/article/2013/02/07/us-economy-idUSBRE9160LN20130207

(Reuters) - The number of Americans filing new claims for jobless benefits fell last week and a trend reading hit a near five-year low, pointing to ongoing healing in the labor market.

Initial claims for state unemployment benefits dropped by 5,000 to a seasonally adjusted 366,000, the Labor Department said on Thursday. The prior week's claims figure was revised to show 3,000 more new claims than initially reported.

Economists polled by Reuters had expected 360,000 claims last week.

Claims were volatile in January due to the timing of holidays and the dates on which weeks ended, but a Labor Department analyst said some of that volatility appeared to be receding. The analyst said there was nothing unusual in the data, and no states estimated their readings.

http://www.reuters.com/article/2013/02/07/us-productivity-idUSBRE9160LR20130207


(Reuters) - U.S. nonfarm productivity fell in the fourth quarter by the most in nearly two years as output increased marginally despite steady gains in employment, the Labor Department said on Thursday.

Productivity declined at a 2 percent annual rate, the sharpest drop since the first quarter of 2011 and a larger fall than the 1.3 percent forecast in a Reuters poll.

Output rose 0.1 percent outside the farm sector, while hours worked rose by 2.2 percent.

Productivity is expected to rebound in the current period because analysts believe weak output during the fourth quarter was partially due to temporary factors like an unusually sharp decline in government spending on the military.

http://www.reuters.com/article/2013/02/06/us-usa-economy-budget-idUSBRE9151EO20130206

(Reuters) - The U.S. economy could take a big hit from automatic government spending cuts even if Congress only leaves them in place for a month or two.

The cuts were meant to be so painful that they would force Congress to find a more thoughtful way to tighten the budget.

But many analysts assume they will take effect as scheduled, forcing federal offices to furlough some of their 2.8 million workers and trim spending on everything from paper clips to missiles.

It is anyone's guess, however, how long lawmakers will be able to stomach the economic pain. The duration of the austerity measures will determine the force of the blow to the economy. Some analysts think having the cuts in place for more than a few months could trigger a brief recession.

http://www.dol.gov/opa/media/press/eta/ui/eta20130220.htm

UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT

SEASONALLY ADJUSTED DATA

In the week ending February 2, the advance figure for seasonally adjusted initial claims was 366,000, a decrease of 5,000 from the previous week's revised figure of 371,000. The 4-week moving average was 350,500, a decrease of 2,250 from the previous week's revised average of 352,750.

The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending January 26, unchanged from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending January 26 was 3,224,000, an increase of 8,000 from the preceding week's revised level of 3,216,000. The 4-week moving average was 3,211,000, an increase of 13,750 from the preceding week's revised average of 3,197,250.

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 386,176 in the week ending February 2, an increase of 16,696 from the previous week. There were 401,365 initial claims in the comparable week in 2012.
....

The largest increases in initial claims for the week ending January 19 were in North Carolina (+2,030), Oregon (+491), Virginia (+461), and Vermont (+62), while the largest decreases were in California (-20,414), Texas
(-5,082), Illinois (-4,865), Florida (-3,570), and Michigan (-2,795).

http://www.bbc.co.uk/news/business-21361339

Emergency legislation to liquidate the former Anglo Irish Bank has passed through both houses of the Irish parliament.

It paves the way for a restructuring of Ireland's most controversial bank bailout.

Under the plan the bank, now the IBRC, will cease to exist. Its debt will be transformed into a long-term bond.

The scheme is designed to ensure the repayments are reduced and spread over a longer period.

I lay the current market losses at their door. Good for the Irish!

http://www.bbc.co.uk/news/business-21364130

India has lowered its growth forecast for the second time in two weeks, underlining the challenges it faces in reviving its sluggish economy.

The statistical office has forecast growth of 5% for the year to 31 March 2013, based on advanced estimates.

Last week, India's central bank had cut its forecast to 5.5% from 5.8%.

India's growth has slowed in recent months because of several factors, not least the sharp slowdown in its manufacturing and services sectors.

http://www.bbc.co.uk/news/business-21347819


China has approved a plan to tackle the widening income gap between rich and poor, which includes raising its minimum wage.

The minimum wage would increase to 40% of average urban salaries by 2015.

State-owned firms would also need to give a greater share of their profits to the government, which it said it would use to fund social security.

The widening wealth gap in China has stoked concerns over its impact on political and social stability.

http://www.businessinsider.com/how-the-dell-buyout-works-as-a-tax-avoidance-scheme-2013-2

he idea that Dell’s planned $24 billion leveraged buyout is basically about avoiding America’s pesky global tax regime isn’t as far-fetched as it may sound at first.

Like most American tech companies, Dell carries a lot of cash overseas. If it brings it home, it will pay US corporate income tax on it, generally at a 35% tax rate. This discourages Dell, like its competitors, from paying dividends to investors. With a leveraged buyout, the company’s private buyers borrow money in the United States and give that to shareholders, providing more value than if the company had paid them a dividend out of repatriated—and taxed—money.

Even better, the company can now deduct interest payments on all that new debt from its taxes. So if Dell’s new owners—led by current chairman and CEO Michael Dell—do bring that capital back from abroad in order to invest in reviving the company, they could offset the tax on repatriating their overseas cash with significant new tax deductions.

Such an approach would be a further buyout-enabled arbitrage on the US tax regime. Dell would effectively pay less tax to bring overseas cash home. And the private equity firms and banks will have made money financing the deal. Everyone wins, except Uncle Sam.


Read more: http://qz.com/51194/dell-buyout-works-as-a-tax-avoidance-scheme/#ixzz2KDqd8PIY

the investors will strip all the value from them by spinning off the pieces for a profit. They will then load the remaining company with debt. Repay themselves handsomely of course. They will then show the phony baloney books to some sucker company and a merger will be announced. The fact that they are owned by a private equity company just allows them to pull the sheers down. Those of us that have watched WS for some time have seen this fan dance before.

S&P 500 +0.1%
DOW +0.0%
NASDAQ +0.3%

http://www.guardian.co.uk/business/2013/feb/06/uk-deficit-tax-rises-election

Britain's leading experts on public finances have warned of hefty tax increases in the first budget after the 2015 election as the next government seeks to repair a £64bn deficit caused by a stuttering economy.

The Institute for Fiscal Studies said tax rises of £10bn-12bn might be needed in the next parliament to put deficit reduction back on track and to avoid "eye-watering" cuts in some Whitehall departments that would reduce spending by a third in inflation-adjusted terms between 2010 and 2018.

Paul Johnson, the thinktank's director, said it was not impossible for the government to achieve its deficit reduction target entirely by cutting departmental spending but it would be "very, very difficult indeed".

"I would be very surprised if it [the adjustment] all came through public spending. If I was a betting man I would say there will be a combination of spending cuts, tax increases and a delay in reaching the fiscal objectives."

Committing Aggravated Blasphemy again.

I actually videotaped him threatening everyone that there would be a meltdown in the market if Obama was elected. I had the volume too low on my damn phone, so I haven't posted it on Youtube, but I might look at it again to see if there is someway to use it.

That said, we have had a good run.

http://www.usatoday.com/story/opinion/2013/02/05/social-security-retirement-benefits-column/1891155/

---...Over the past few decades, employees fortunate enough to have employer-based retirement benefits have been shifted from defined benefit plans to defined contribution plans. We are now seeing the results of that grand experiment, and they are frightening. Recent and near-retirees, the first major cohort of the 401(k) era, do not have nearly enough in retirement savings to even come close to maintaining their current lifestyles.---

http://www.alternet.org/news-amp-politics/america-far-1

---...Investors find somewhat shaky ground in the U.S.

On “Strength of Investor Protection,” we are #5. On “Protection of Minority Shareholders’ Interests,” we are #33. On “Efficacy of Corporate Boards,” we are #23. On “Reliance on Professional Management,” we are #19. On “Strength of Auditing and Reporting Standards,” we are #37. On “Venture Capital Availability,” we are #10. On “Intellectual Property Protection,” we are #29. On “Soundness of Banks,” we are #80. On “Regulation of Securities Exchanges,” we are #39. On “Country Credit Rating,” we are #11. On “Government Debt [as a % of GDP],” we are #136. On “Effectiveness of Anti-Monopoly Policy,” we are #17. On “Extent of Market Dominance,” we are #9. ---

will it be broken?

Nice to see new names.

I am sorry I've been MIA. Just swamped here and likely to be for some time yet. I don't even have time to read the posts, but I do glance down the headers.