News

IRS, H&R Block Release Statements About Processing Delays

This is why I've never understood the value of leaving a space blank, because you never know when someone is going to decide that they really do want an answer.

Billionaire Investors Gobble Up Twinkies: Hostess Snacks Sold For $410 Million

The 18,500 workers who were employed by bankrupt Hostess have lost their jobs. Metropoulos and Apollo stressed that they will add jobs by buying the brands.

I'm sure they will add jobs; just not that many, nor at the same pay rate.  $410 million seems kind of low for a brand that has been so well-known for so long, regardless of how "health conscious" Americans have become, and I actually don't believe Americans are all that health conscious.

EURO GOVT-"Weak" debt auction lifts Italian yields

Italian 10-year yields rose to an intraday high of 4.73 percent from around 4.65 percent at 1000 GMT, when bidding for the bonds was cut off. They were last 8 basis points up on the day at 4.68 percent.

These are strange days when a 10-year yield of 4.68 percent is high enough to raise much concern.  Makes me wonder what anyone was thinking when they were spending...

Retail Sales Data Show a Recovery Stuck at Stall Speed

Putting the pieces together with the better than expected Non-Farm Payrolls data and you see an economy that's got jobs growing on the low end, largely as a function of higher end consumers creating demand.

So, this is how the wealthy create jobs.  I could have sworn I heard a couple months ago that tax increases on the rich would result in fewer jobs.