Thursday, February 27, 2014

It's Asian Thursday

Wednesday, February 26, 2014

IRS Warns: Obamacare Tax Must Be Paid with Tax Return

Agency employs Orwellian term “Shared Responsibility Payment” to describe Obamacare individual mandate tax.
President Obama’s Internal Revenue Service today quietly released a series of Obamacare “Health Care Tax Tips” warning Americans that they must obtain “qualifying” health insurance – as defined by the federal government – or face a “shared responsibility payment” when filing their tax returns in 2015. The term “shared responsibility payment” refers to the Obamacare individual mandate tax, one of at least seven tax hikes in the healthcare law that directly hit families making less than $250,000 per year.

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Good Morning girl!


Connecticut gun owners are in the early stages of becoming slaves. The Obama administration’s relentless war on the Second Amendment has now landed squarely on their doorstep. In the aftermath of the Sandy Hook massacre, the state enacted mandatory gun and standard capacity magazine registration. As most Second Amendment defenders understand, gun registration is usually the first step toward confiscation. Nearly 90% of Connecticut gun owners have so far refused to comply and are now technically felons.
Citizens of Connecticut are effectively “nullifying” these anti-gun laws because they can’t count on the Supreme Court, Congress, or even their own state lawmakers to defend the Constitution.”
- See more at:

Tuesday, February 18, 2014

China Sells Second-Largest Amount Of US Treasurys In December: And Guess Who Comes To The Rescue

While we will have more to say about the disastrous December TIC data shortly, which was released early today, and which showed a dramatic plunge in foreign purchases of US securities in December - the month when the S&P soared to all time highs and when everyone was panicking about the 3% barrier in the 10 Year being breached and resulting in a selloff in Tsy paper - one thing stands out. The chart below shows holdings of Chinese Treasurys (pending revision of course, as the Treasury department is quite fond of ajdusting this data series with annual regularity): in a nutshell, Chinese Treasury holdings plunged by the most in two years, after China offloaded some $48 billion in paper, bringing its total to only $1268.9 billion, down from $1316.7 billion, and back to a level last seen in March 2013! 

This was the second largest dump by China in history with the sole exception of December 2011.

That this happened at a time when Chinese FX reserves soared to all time highs, and when China had gobs of spare cash lying around and not investing in US paper should be quite troubling to anyone who follows the nuanced game theory between the US and its largest external creditor, and the signals China sends to the world when it comes to its confidence in the US.
Yet what was truly surprising is that despite the plunge in Chinese holdings, and Japanese holdings which also dropped by $4 billion in December, is that total foreign holdings of US Treasurys increased in December, from $5716.9 billion to 5794.9 billion.
Why? Because of this country. Guess which one it is without looking at legend.

That's right: at a time when America's two largest foreign creditors, China and Japan, went on a buyers strike, the entity that came to the US rescue was Belgium, which as most know is simply another name for... Europe: the continent that has just a modest amount of its own excess debt to worry about. One wonders what favors were (and are) being exchanged behind the scenes in order to preserve the semblance that "all is well"?

Admiral claims Obama conspired with America’s enemies to stage a phony scandal to kidnap Chris Stevens

Monday, February 17, 2014

Gowdy Calls Pelosi Mind-Numbingly Stupid


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