Check out CNBC and their write up of Venezuela’s economic downfall. One thing that stuck out and why Socialism is one of the dumbest philosophies people cling onto:
Venezuela produces 2.6 million barrels per day and gives away at NO COST 1.2 million of those barrels for free to places like Cuba.
Fitch Ratings assigns an ‘AAA’ implied GO rating to the state of Indiana and affirms the ‘AA+’ rating on outstanding Indiana appropriation-backed debt issued by the Indiana Finance Authority (IFA), the Indiana State Office Building Commission, and the Indiana Transportation Finance Authority.
The IFA was established in 2005. The state’s debt structure formerly was diffuse with state appropriation-backed debt issued through several commissions and authorities. The IFA is the successor agency to the former agencies.
The Rating Outlook is Stable.
Read the rest at HeraldOnline.com
As of 2013, an estimated 14% of drivers nationally are uninsured, according to the industry-funded Insurance Research Council
Last night AMC’s show “The Walking Dead” made its season return and did not disappoint in tv viewership numbers along with social media. Via TV By the Numbers:
The season five premiere of AMC’s “The Walking Dead” delivered the highest ratings in series history. The episode was watched by 17.3 million viewers and 11 million adults aged 18-49, increases of 7% and 6%, respectively, over the season four premiere, the previous record-holder. “The Walking Dead” continues to be the #1 show on television among adults 18-49. Last night’s episode outperformed everything else on television in this key demographic, including Sunday Night Football, by over 2.5 million adults 18-49. With time-shifted playback, the season five premiere should exceed 22 million viewers.
The season five premiere of “The Walking Dead” was the series’ most talked about episode ever, dominating social media activity for all of scripted television in 2014 as well as for the night. The premiere telecast garnered a total of 1,320,056 Tweets, making “The Walking Dead” the #1 new season drama premiere for 2014 in terms of Tweets and the #1 series premiere of 2014 in terms of Unique Authors. “The Walking Dead” is also one of the only shows in Twitter history to have had all 10 trending topics in the United States pertain to the show simultaneously. On Facebook, the day of premiere saw more than 7.7 million users driving more than 32.1 million interactions related to “The Walking Dead.” For the past four weeks, “The Walking Dead” has had the most engaged Facebook page of any television program, with 15 times the engagement of any other program on premiere day.
The King of Pop may be gone but his estate is still being hounded by the IRS. According to Forbes, they are going for more blood:
In a previously unreported court filing, the government says that IRS auditors originally thought the King of Pop owned only 50% of certain master recordings at his death in June 2009, when he really owned 100% of them. That 100% interest was worth $91 million by the IRS’ figuring, compared to the $11 million reported on the Jackson estate tax return.
The change brings the IRS’ valuation of Jackson’s estate and lifetime taxable gifts up to $1.178 billion, compared to the $7 million the estate reported. The IRS now wants a total of $525.6 million in tax and $205.1 million in gross valuation misstatement and negligence penalties. (Any interest owed will be on top of that.) Of course both the IRS and the estate’s values are best regarded as opening bids in what could be a long negotiation. A trial, if there is one, is far off.
Empire Steak House, owned and operated by the Sinanaj brothers, announced it will offer the hardest-to-find steaks in United States – imported certified Japanese Kobe tenderloin and ribeye. A choice of an 8-ounce tenderloin or 10-12 ounce ribeye will be priced at $385 and $375, respectively.
Kobe beef is a cut of meat from a special breed of wagyu cattle, called Kuroge. It is the only beef with unsaturated fat, which is filled with Omega-3 and Omega-5. Fed with rice straw that fortifies the cow’s stomach, soy, wheat, beef, and other secret ingredients in Japan, these cows are 30 percent larger than U.S. cows before slaughtering at 30 to 34 months of age, rather than the typical 18 to 20 months of age in the U.S.
Read the rest here
The Associated Press has come out with a story over Detroit going on a wheelchair ramp installation binge:
Along one half-mile stretch of crumbling sidewalks in Detroit, there are 52 new sets of wheelchair ramps. Some provide access to an empty lot where a middle school was razed in 2009. On many corners, sidewalks end after the ramps.
The ramps are being built as part of a decade-long effort to force Detroit into compliance with the Americans with Disabilities Act. But the efforts are facing criticism as the bankrupt city installs ramps in areas with little traffic while well-traveled areas, including some near downtown, still don’t have them.
This is a perfect example of the insanity that has gripped the nation in the past decades from the “Regulation Industrial Complex”. I fully grasp the legality of the lawsuits but Detroit is a physical and financial mess. This is the furthest of things to do in order for the city to get going again. Of course this type of action comes with a price tag:
The city has spent $30 million over eight years to install 25,000 ramps, and officials estimate that $60 million more must be spent to build another 50,000
Here in a few years Detroit will be the world’s most compliant wheelchair ramp city. Hopefully the users who go there to enjoy them take their firearms when they end up the run down drug infested neighborhoods.
Mark this story up as insane.
The President of the United States has gave the command to put US Troops in harms way combating Ebola in Liberia. A total of 4,000 will end up there. Here is what they will receive for their efforts via the Military Times:
U.S. troops deploying to West Africa for the Ebola mission could earn up to $400 a month in special pays, according to Defense Department officials. One would be hardship duty pay-location of $150 a month for those troops in Liberia and Sierra Leone. This entitlement is retroactive to the day of arrival after 30 days in theater. The second would be family separation allowance (for members with dependents) of $250 a month. This entitlement is retroactive to the day of arrival after 30 days in theater.
Will 2014 be a jolly holiday for retailers?
The National Retail Federation says yes, projecting November and December U.S. retail sales to rise 4.1 percent, which would be the biggest increase in three years and would be above the 10-year average of 2.9 percent. The group is forecasting sales (not including autos, gas or restaurants) of $616.9 billion for the period this year.
Hoosier Econ 