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Thursday, October 17, 2013

A couple newsbits


Here's two bits of news:

Ritholtz - the truth about the deficit. Quote:
If the tax cuts from 2001, 2003 were repealed, half of that deficit goes away.

If the FICA cap is lifted from $113k and allowed to rise to $250k or $500k, SS is solvent for 75 years.

If the US no longer spent the equivalent of the next 20 countries COMBINED on Defense, a huge chunk of the deficit goes away.
I would add the following, Barry:
  • If you get rid of the Democrat in the White House, the Republican party will no longer be concerned about the deficit.

Michael Shaoul - Euro area current account Aug 2013. Old numbers, but they still support his theory of Euro resurgence. Quote:
In other words the sums involved are large enough to matter even in an economic area as large as the Eurozone. Gains have also been well dispersed with only France showing little sign of improvement over the last three years.

We believe that the improvement in Current Account data has been largely overlooked by market participants, just as the substantial deterioration in emerging market data went unnoticed until currencies dislocated at the end of the second quarter. We would expect rather more attention going forwards as the strong equity market performance of most Eurozone markets starts to generate more interest on the part of investors.

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