Quote of the Day:
Speden puoluetoimisto tiedottaa:
Spede-puolue on kokoomuksen johdolla juuri saanut sovituksi uudesta verosta, joka on lasten viikkorahavero. Kyseinen vero koskee kaikkia lapsia pilteistä teineihin. Viikkorahavero on luonnollisesti progressiivinen, jotta ökyrikkaat yrittäjäkapitalistisiat osallistuisivat oikeudenmukaisemmin yhteiskunnan välttämättömien ulkomaisten tulonsiirtojen rahoittamiseen. Koska veroprosenteillahan me elämme, emme euroilla.
Veron kiertämisen estämiseksi on myös perustettu uusi Waltion Wirasto, jonka ainoana tehtävänä on kalkyleerata laskennallisia lasten viikkorahaveroprosentteja veronkiertotapauksia silmällä pitäen. Virastoon on alustavasti palkattu 154 henkilöä, joista puolet ovat naisia ja puolet naisista ja miehistä on maahanmuuttajia. Näin edistämme naisten ja miesten ja maahanmuuttajien tasa-arvoa.
Öhym.
Viikkorahaverosta ovat positiivisen segregaation nimissä vapautettuja tietyt erityisryhmät: kuten maahanmuuttajat ja RKP:läiset. Tämä on perusteltua, jotta yhteiskunnan hegemonia ja arvojärjestys säilyisivät eikä kukkoileville alkuperäisasukkaille vain tulisi tunnetta, että he olisivat jotain Euroopan omistajia. Verotuksen arvioitu tuotto tulee olemaan n. 100 miljoonaa euroa ja veron arvioidaan valtionvarainministeriön huippusalatun laskelman mukaan olevan täysin kulutuskysyntäneutraali. – Anonyymi
Previously on MoreLiver’s:
Roundups &
Commentary
News – Between
The Hedges
Markets – Between
The Hedges
Recap – Global
Macro Trading
The Closer – alphaville
/ FT
Roundup – Kiron
Sarkar / The Big Picture
US: Another Day, Another 5 Year High (Except For
Trannies) – ZH
EUROPE
Europe’s great success in 2012 was to
avoid becoming another of history's failed monetary unions. But, having escaped
the markets' wrath, have Europe's political leaders again chosen to muddle through, rather than meld a
resilient strategy?
Euro Area Spreads Near 52-Week Lows – Bespoke
UNITED STATES
FED
FOMC meeting a non-event – Nordea
Only seven
weeks after the FOMC in December decided to replace its Operation Twist with
more QE, the Fed’s policy and forward guidance will most likely remain
unchanged tomorrow after the first FOMC meeting in 2013.
FOMC preview – alphaville /
FT
Nobody is
expecting any major policy changes or innovations in the FOMC statement that
will be released Wednesday. (There’s no presser until the March meeting.) But
in addition to any changes in the economic outlook, a couple of items will be
worth watching.
Say when – Free
exchange / The Economist
Fed
watchers will be looking for new communication tidbits this time around,
however, related to the asset-purchase programme. Minutes from the last Fed
meeting revealed an internal debate over just how long the Fed should keep
buying, with some FOMC members in favour of maintaining purchases for all of
2013 and others supporting an end mid-year. The feeling now seems to be that
the FOMC may move toward a new set of thresholds specific to QE purchases.
STOCK
MARKET
S&P 500 Index Reaches 1,500 Again: A
Multi-Decade Triple Top – The
Peridot Capitalist
Visualizing The Market's Parabolic Rise – ZH
What's wrong with this picture? – Sober Look
The
divergence between consumer sentiment and the stock market has become quite
pronounced and is unlikely to be sustainable over the longer term. Ultimately,
weak sentiment will result in lower sales.
MACRO
NUMBERS
For over a
month we have been looking for upside surprises in macro data, not only for the
US but also for EU and China. Tomorrow’s release of US GDP growth data is no exception. (summary)
Case-Shiller:
Home Prices Rose November 2012 – The
Big Picture
Case-Shiller
Home Price Index Posts Second Consecutive Monthly Decline, Average Home Prices
Back To Fall 2003 Levels – ZH
Consumer
Confidence Crashes To 2011 Levels After Biggest Plunge Since August 2011 Debt
Ceiling Debacle – ZH
ASIA
On the
surface, the Chinese economy's resilience has been impressive – the first to
recover, as Chinese leaders always want to remind the rest of the world. But,
beneath the surface, the economy risks losing its capacity for resilience
unless the authorities accelerate the transition to a more consumer-led
economy.
OTHER
The point of low return, part two – Buttonwood
/ The Economist
Further to
the last post
on the expected returns from a 60/40 equity bond US portfolio, Chris Brightman of
Research Affiliates has produced this interesting table on the past returns