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Other market commentators have argued about the timing of tax cuts including Jeff Gundlach, the DoubleLine Funds CEO. During an investor call earlier in December, he said tax cuts could boost economic growth, but the timing was odd versus 30 years ago when the economy needed stimulus.
Hussman also takes issue with who could benefit the most from lower taxes. After-tax savings depend on how much you currently earn, and nearly half of Americans could see a tax increase when many of the provisions in the law expire in 2025. Also, wealthy people stand to benefit from specific changes like the repeal of the estate tax.
"Frankly, the notion that corporate tax cuts will unleash some renaissance in US real investment and growth would be laughable if the bald-faced corporate giveaway wasn't so offensive," he wrote.
"The policy not only vastly favors the wealthy, but is even more preferential to wealthy individuals who take their income in the form of profits rather than wages. The current tax legislation isn't some thoughtful reform to benefit Americans. It's a quickly planned looting through a broken window in our nation's character."
WASHINGTON, May 22 (Reuters) - The U.S. House of Representatives approved a bill on Wednesday declaring that a presidential permit was not needed to approve the Canada-to-Nebraska leg of the proposed Keystone XL oil pipeline.
The Republican-controlled House voted 241-175 with support from some Democrats.
The bill, which would take authority for approving the pipeline away from the administration, faces an uphill battle as it would have to pass the Senate with enough votes to overcome a promised veto from President Barack Obama.
Unsurprisingly, the iPhone is the smartphone of choice for thieves in Paris. At the end of last year, 776 mobile phone thefts out of 1395 were iPhones, according to police, who estimate that number will only go up in 2011 as the Apple handsets become steadily more commonplace.
I'm contributing to this year's statistics. My iPhone 4 was wrenched from my hands just two weeks after I bought it. A painful reminder to keep those electronic devices in your bag on the Paris métro.
But sometimes it's impossible to avoid using your phone in public. You need to consult Google maps or answer an incoming call. How else, then, can you protect your iPhone from opportunistic pickpockets?
BookBook for iPhone is available from Twelve South and costs $59.99. It incorporates your iPhone into a swish brown leather wallet. Could be useful if you have difficulty keeping track of all your personal effects, like the Apple worker who left his priceless iPhone 5 prototype in a Mexican restaurant. Not ideal for keeping thieves at bay, given that your wallet is also a prime target.
Chocoholic? Hooked on your iPhone? Mix pleasure with pleasure by wrapping up your handset as a yummy bar of chocolate. Except that it's made of silicon. Bonus: it never melts. You look a bit strange holding it to your ear, though. Amazon sells them for $14.99.
Revisit the pixellated world of Super Mario Bros and Tetris with a classic Gameboy skin for iPhone. There's a peel and stick version that costs just $14.95 from Zapstatic. Or you can get a protective plastic iBoy case like the one in this photo (taken in Japan) - totally geeky but totally awesome. Available in different colours on Amazon, Buy.com, eBay et al for around $7-8.
In the digital age, what thief would want to swipe a Polaroid Land Camera from the '70s?
Give your iPhone a dose of old school cool while making it less desirable to kleptomaniacs with the Leica Rangefinder look-alike. At $9 from PetaPixel it won't break the (piggy) bank either.
Definitely the creepiest choice of the lot. Purpose of the Dokkiri Hand Case for iPhone 4 is unclear. Perhaps by lovingly intertwining your fingers with the fake severed hand, you're less likely to drop your phone. You're also less likely to make any friends. It would definitely give the pickpockets a shock though. Made in Japan, of course. Available from Strapya World priced ¥5,000 or $64.20.
Did you see The Station's story on Nasuni's new cloud gateway yesterday in eWEEK? If you missed it, check it out here.
Nasuni [for NAS-unity] Filer is a virtual NAS file server/front end that runs on VMware and uses publicly available cloud resources -- namely, Amazon S3, Iron Mountain Digital, Nirvanex and Rackspace -- to handle administration of an enterprise's cloud storage. It's designed for any computer-savvy business person to use [let's face it, we're mostly all computer-savvy] for setting up cloud storage accounts.
However, setting up cloud computing accounts can be tricky, so test runs can be a good idea.
Nasuni also offers optional snapshots, instant data recovery (in case of mistakenly deleted files) and end-to-end encryption. Synchronous snapshots capture the entire file system hourly and save the snapshots to the cloud, where they are easily accessible.
Not often does one get a chance to use something like this for free. Nasuni Filer is available as a free download for the next couple of weeks. After Feb. 28, however, no more freebies will be allowed.
So test it while it's hot. And did we mention that it's free?
While much of world is focused on the stock market losses this week, the drop in shipping rates as trade declines because of the trade dispute between the United States and China, emerging market currency weakness and tighter credit conditions is an omen of slowing global economic growth.
The cost of hiring container ships has plunged 24 percent from a multi-year peak while raw material vessel rates have slumped 10 percent from a five-year high, adding to signs of slowing global trade with dangerous implications for the economy.
At the start of supply chains, dry-bulk carriers move raw materials like coal and iron ore from mines to smelters while container ships complete the cycle by carrying the vast majority of global manufactured goods from factories to consumers.
Dry-bulk and container rates climbed to multi-year highs earlier this year, but have plunged since then as the trade war between the United States and China, in which both sides have slapped steep import tariffs hundreds of goods, has picked up pace.
"The flattening out of the Baltic dry index, corroborated by the container index as well, points to a slowing down of the global economy for sure," said Ashok Sharma, managing director of shipbroker BRS Baxi in Singapore.
Frederic Neumann, co-head of Asian Economic Research at HSBC in Hong Kong, said "global trade is cooling off after a strong run over the last couple of years.
He said cooling demand in Europe and China, emerging market woes, as well as the Sino-American trade tensions were contributing to the slowdown, and added that "their full effect hasn't kicked in yet."
The Harpex Container Index , which tracks weekly container shipping rate changes, has fallen by almost a quarter from June when it was at a seven-year high to 516 points.
The Freightos Baltic Index , a global container index launched in Singapore in 2017, climbed to a record in August but has fallen 5.4 percent since then to 1,583 points.
Movements in the container market tend to reflect changes in developed economies while bulk shipping markets are more influenced by emerging countries, said shipping analysts.
"Now that the trade war is escalating... I have no doubt that this does have a negative impact on containerised trades," said Ralph Leszczynski, head of research at ship broker Banchero Costa in Singapore.
The Baltic Dry Index , which measures freight costs for ships carrying iron ore, coal and metal ores, has dropped 13 percent after reaching its highest since January 2014 to 1,546 points.
Leszczynski said that the downturn in dry-bulk rates was largely due to trends in emerging markets, where currencies including in India, Pakistan and Indonesia have plunged against the U.S. dollar this year, reducing their ability to pay for imports.
Given the number of concerns, HSBC's Neumann said he was surprised how well shipping markets had held up so far.
Neumann pointed to Japanese export data for October that showed its fastest growth since March as a positive development.
Global oil tanker rates have also held up as companies try to buy as much crude as possible before U.S. sanctions are re-imposed on Iranian oil exports on November 4.
Rates for supertankers carrying crude from the Middle East to Singapore, Asia's oil trading hub, have soared by 50 percent since September.
Healthy oil demand has so far also supported tanker rates at the same time that the supply of ships has declined as Iranian tankers are being used to store crude.
Here too, however, the threat of an economic slowdown looms.
"The oil freight index typically lags the dry index by a few quarters," said BRS Baxi's Sharma.
JAKARTA, Aug 27: Skipper Rani Rampal scored a hat-trick as title contenders India outplayed Thailand 5-0 to storm into the semifinals of the women’s hockey competition at the 18th Asian Games here today.
After a barren and action-less first two quarters, the Indians got into the groove and scored five goals after the change of ends through Rani (37th, 46th and 56th minute), Monika (52nd) and Navjot Kaur (55th) to register their fourth consecutive win.
With an unbeaten record under its belt, the Indian women’s team finished on top of Pool B with 12 points from four wins ahead of defending champions South Korea, who they had defeated 4-1 in their penultimate pool encounter. The first few minutes of the opening quarter saw Thailand maintain most of the possession but it was India who had an opening in the fifth minute when captain Rani’s reverse shot from the right flank went just wide of the goal post.
India won their first penalty corner in the same minute, but the resulting try from Deep Grace Ekka was saved by a Thai defender.
The remaining minutes of the quarter saw both the teams battle for possession in the midfield with World No. 9 India creating a few opportunities but lacking in intensity and precision.
India got a couple of chances in the opening minutes of the second quarter as Rani took another shot which went wide, while Vandana Katariya was denied a shooting chance by Thai goalkeeper Alisa Narueangram, who was brilliant under the bar.
Rani was involved again in the 23rd minute as she made her way into the striking circle, wriggling past four Thai defenders and fired a ball across the goal, but young striker Lalremsiami could not get her stick at the end of the pass as the scores remained 0-0.
In the 25th minute, India won their second penalty corner and it was Rani who took the shot but was once again denied by the Thai custodian. Denied any goal by World No. 28 Thailand in the first 30 minutes, the Indians came out all guns blazing in the third quarter and went on the offensive.
Two minutes into the third quarter, India secured their third penalty corner but Gurjit Kaur’s drag flick was saved by Thai goalkeeper Alisa.
RICHMOND, VA—With the marriage ceremony and the words of advice from several speeches about love still fresh in their minds as they move and bounce to the live five-piece band, everyone on the dance floor at the Elliott–Begneaud wedding reception is simultaneously wondering if they are truly happy, sources are confirming. According to reports, every wedding attendee regardless of age or relationship status—from the bridesmaids, to family members, to those who do not know either the bride or the groom and were invited as dates of friends and relatives—is at this moment ruminating over whether their current circumstances in life have left them contented and whether the person dancing across from them is the singular person in the world with whom they are meant to spend their lives. After the music shifted from an up-tempo pop song to a slow-dance standard, accounts confirmed that even the bride and groom are feeling a momentary pang of sadness at the sight of their unmarried friends dancing around them, with both newlyweds privately doubting whether they would ever feel the exuberant, untroubled excitement of their single days again. At press time, everyone on the dance floor had concluded that the only wedding guest who was truly happy was the suit-clad 8-year-old currently busting a series of moves by himself at the center of a cleared-out dance circle.
Abu Dhabi: Dr Mugheer Khamis Al Khaili will now serve as the acting director-general of the emirate of Abu Dhabi’s education sector regulator, the Abu Dhabi Education Council (Adec) announced on Sunday.
A decree of his appointment by His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince, Deputy Supreme Commander of the UAE Armed Forces and head of the Abu Dhabi Executive Council, was issued on Sunday.
Dr Al Khaili will take on the responsibilities of Dr Amal Al Qubaisi, who was appointed Adec’s director-general in March 2014. Her election as the first woman Speaker of the UAE’s Federal National Council (FNC) last week will see Dr Amal focus on her FNC role. She will retain her title as Adec director-general.
Dr Al Khaili, who had headed Adec between 2007 and 2014, praised Dr Amal’s efforts at the helm of Adec, especially her role in cultivating a culture of innovation at the emirate’s schools.
In addition, Dr Amal launched a number of initiatives, including the introduction of a curriculum that emphasises science, technology, engineering and mathematics, as well as a programme intended to develop world-class athletes. She also opened many public schools to the community.
Dr Amal was also the first woman to be elected to the FNC in 2006, and the first woman member of the Executive Council. Before her current appointment as Speaker, she was also the first woman deputy speaker of the FNC.
Dr Al Khaili will also continue with his other responsibilities as a member of the Executive Council and chairman of the emirate’s health-care sector regulator, the Health Authority Abu Dhabi.
On-screen power couple Jennifer Lawrence and Bradley Cooper are back together in yet another film. But it may not make it to a theater near you anytime soon.
In Serena, a film based on Ron Rash's 2008 novel of the same name, Lawrence and Cooper play newlyweds Serena and George Pemberton who set out to build a timber empire in the 1930s. Serena eventually learns she can't conceive children, and quickly becomes obsessed with George's relationship with his illegitimate son.
Currently, Serena is only set to premiere in theaters in the UK on Oct. 24 — following a stint at the London Film Festival — and has no release date in the United States yet.
The film, from director Susanne Bier, has been on hold for almost two years; it was filmed in spring 2012.
This is Lawrence and Cooper's third film together. They starred in American Hustle in 2013 and Silver Linings Playbook in 2012, for which they both earned Oscar nods. Lawrence won the Academy Award for Best Actress for Playbook.
UK Ironman champion Dan Halksworth will represent Jersey in the triathlon at the Commonwealth Games in Glasgow.
The 28-year-old successfully defended his national Ironman title in August and has now been chosen to compete over the shorter triathlon distance.
Halksworth told BBC Radio Jersey: "I'm a proud Jersey boy so to be able to represent Jersey at the Commonwealth Games is big for me. It's huge.
"I am looking forward to the experience and being with the Jersey team."
Halksworth won the Jersey Triathlon in 2013 in a time of one hour, 57 minutes and 58 seconds.
"I'm more of a long-distance Triathlete," he added. "I've been to the Commonwealth Games before but this will be a different sport this time around.
"It's nice to now be able to relax a bit now and focus on my training and my racing.
"I'm going to go out there, give it everything and hopefully get a good result.
"I'm really looking forward to it and being able to support other sports as well and have that good, team feeling around me.
"Obviously Ironman is a very individual sport. I'm swimming, cycling and running on my own a lot so having a team around is going to be a great experience.
"I'm hoping that we're going to have great support with us as well.
"Glasgow is not too far away and it would be good to see as many Jersey people up there as possible."
Some people seek to downsize in their retirement. With children off on their own, many choose smaller homes or condos as well as areas of the country where retirement costs are lower and benefits are high.
Here are five of the best places to downsize in retirement.
1. Arlington, Texas — About 20 minutes from Dallas, Arlington tops Active Adult Living’s list of places to downsize in retirement.
Active Adult Living noted that retirement costs there are 3.6 percent less than the entire state of Texas and 12.4 percent less than a broader national average.
2. Des Moines, Iowa — Des Moines ranked No. 2 on Active Adult Living's list. While Des Moines offers all of the benefits of living in a city — and earns a spotlight each presidential election cycle for news coverage of the state's famed political caucuses — its cost for retirees is 15.2 percent less than the state average and more than 19 percent below the national average.
3. Tucson, Arizona — Tucson is No. 1 on a list of cities to retire on the cheap compiled by Caring.com. Its climate is superb and it's a small city with a health-conscious vibe for those looking to relax and also remain fit. Home to the University of Arizona, the city also offers culture and plenty of new retirees as residents.
"More than 30 percent of the population is over 60 and continues to grow, making seniors a vocal and active population group; there's also a well-appointed senior center offering a wealth of services. The area has no fewer than eight hospitals and major medical centers," the Caring.com said.
4. Dover, Delaware — Ranked No. 2 by Caring.com, Dover is livable and filled with plenty of big-city benefits, even as its population is just 32,000. It's also walkable and just a train ride from Washington, D.C. to the south and New York City to the North, for those retirees seeking a deeper cultural fix while living in a more modest area.
5. Lawrence, Kansas — A college town with a low cost of living, Lawrence offers plenty of fiscal benefits for retirees looking for a down-sized life. Cost of living there is 4.5 percent below the state average and 11.2 percent below the national average, Active Adult Living noted.
The Afghan government has rejected any conditions for peace talks with the Taleban, after the Islamist militants demanded the withdrawal of all foreign troops from the country.
Presidential spokesman Homayun Hamidzada said Tuesday the Afghan government is not open to any negotiations with preconditions. He added that the only promise the government will make is for the safety of rebel negotiators.
A Taleban spokesman told Reuters News agency that the group is sticking to its demands. Last week, the Taleban expressed a willingness for negotiations only if all of the 50,000 foreign troops in Afghanistan leave the country.
The Taleban was ousted from power in Afghanistan by a U.S.-led offensive in late 2001.
Militant attacks in southern and eastern Afghanistan have escalated over the past 19 months, marking the bloodiest period since the beginning of the war.
HOUSTON, March 27 (Reuters) - Hydrofluoric acid (HF) leaked from an alkylation unit at BP Plc’s 406,570-barrels-per-day refinery in Texas City, Texas on Tuesday morning, triggering alarms in the plant and warnings to area residents, company and city officials said.
No injuries were reported at the refinery, the fifth-largest in the United States, or in the surrounding community, the officials said.
Water cannons surrounding alkylation unit 3 were triggered when monitors detected the leak, Mueller said. Workers in the refinery not battling the leak were ordered to shelter in place.
The cause of the leak has not been determined, and Mueller declined to say whether gasoline production had been affected.
Hydrofluoric acid can damage skin, eyes, lungs, bones and the heart in humans. Exposure can be fatal, and HF acid can form into vapor clouds that are able to spread over large distances.
Water cannons are used to prevent a vapor cloud from forming. The HF clings to water droplets and falls to the ground. Workers trying to secure a leak wear protective clothing.
Environmental groups and the United Steelworkers union, which represents most U.S. refinery workers, have campaigned for HF alkylation units to be replaced with units using sulfuric acid in order to prevent HF vapor cloud exposure.
Texas City officials notified residents of the leak shortly before 9 a.m. local time. No orders for residents to remain indoors had been issued as of 10:30 a.m.
BP’s Texas City plant was the site of the worst refinery disaster in the past decade when 15 workers were killed and 180 others injured by an explosion on March 23, 2005.
BP’s term of probation for a violation of federal environmental law in the 2005 explosion ended this month.