Just before the annual gathering of the global elites last January (at the Swiss mountain resort of Davos), the anti-poverty charity Oxfam released an eye-opening report that showed the world’s 85 richest billionaires hold as much wealth as 3.5 billion of humanity’s poorest half. That shocking statistic quickly went globally viral. Now there's a new report.
It never ceases to disgust, horrify and amaze how people are hoodwinked by marketing, media and advertizing. A textbook case is election 2014. States have measures on the ballot, and Oregon has one that big business in particular doesn't like. As a result the campaign to defeat it has become the costliest in Oregon history as big business pounds the airwaves with their deep pocket funded misleading and manipulative ads.
The October ISM Manufacturing Survey recovered from last month's plunge. PMI rose by 2.4 percentage points to 59%. New orders caused the overall gain and by themselves jumped up 5.8 percentage points to the 60's level. Production is at highs not seen in a decade. This is a great report, even with declines in petroleum and coal.
* Editor's Note: "Hint...the author says one reason is because "cash now held overseas would be subject to the 35% corporate tax rate on either dividends or stock repurchases, imposing a huge penalty on returning idle cash to stockholders."
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