Month: March 2019

 

by Tim Pearce

A decade-long oil boom in the U.S. has cut into the overall U.S. trade deficit by hundreds of billions of dollars, according to business information provider IHS Markit.

The total U.S. merchandise trade deficit in 2017 was $250 billion less than what it would have been absent the shale oil boom. The oil boom cut U.S. demand for foreign-made petroleum products, according to an IHS Markit study released Wednesday.

“The improved U.S. trade position in petroleum has been a counterbalancing force helping to keep the U.S. trade deficit in check over the past decade,” IHS Markit vice chairman Daniel Yergin and co-author of the report said in a statement. “The resurgence of domestic oil and gas production has flipped the trade position of several products along the energy value chain on their heads, while that of other products, such as crude oil, have been significantly reduced.”

U.S. crude oil and natural gas liquids production nearly doubled in the decade between 2007 and 2017, rising from about 7 million barrels a day to about 13 million barrels a day. During the same amount of time, the trade deficit on petroleum products fell from $320 billion to $75 billion, according to the study.

“The United States moving from net imports to being a net petroleum exporter would be an historic shift, something not achieved since at least the Truman administration,” report co-author David Witte, IHS Markit senior vice president and head of energy and chemicals, said in a statement. “It speaks to the profound and continued impact that the U.S. shale boom has had in terms of investment, job creation, manufacturing, GDP and now trade.”

In September, the U.S. became the world leader in crude oil production, passing Saudi Arabia for the first time in decades. The U.S. also passed Russian production in June for the first time since 1999, according to the Energy Information Administration.

The U.S. has leveraged its dominant oil and gas industry to gain advantages in international relations. China backed away from retaliatory tariffs it was considering on American crude oil because the country would have risked “severely hurting its domestic refining industry,” FGE energy consultant Den Syahril told Bloomberg.

Though it might not make the evening news in the U.S. there is still much danger in Mexico to those who try to fight against the drug cartels.

Maria Santos Gorrostieta, a physician, stood up to the drug gangs when she was mayor of her district. Even after surviving two assassination attempts the 36 year old woman continued to fight against the violence of the drug cartels. It was her mission to stand strong in the face of such danger, teaching her children through example.

‘Despite my own safety and that of my family, what occupies my mind is my responsibility towards my people, the children, the women, the elderly and the men who break their souls every day without rest to find a piece of bread for their children.

‘Freedom brings with it responsibilities and I don’t dare fall behind. My long road is not yet finished – the footprint that we leave behind in our country depends on the battle that we lose and the loyalty we put into it.’

Read the entire story of this iconic woman’s heroism at the Daily Mail UK. Look at the photos, showing her scars. This is what bravery looks like.

From the UK Daily Mail: She had survived two assassination attempts which claimed the life of her first husband and left her with horrific wounds that never really healed.

But despite being a marked woman, Maria Santos Gorrostieta remained defiant to the very end.

With unimaginable courage, the 36-year-old stood up to the drugs gangs that had ravaged Mexico and Tiquicheo, the district where she once served as mayor. When some doubted that she had been shot, Gorrostieta bared the scars that riddled her flesh and swore she would never give in.

It was almost inevitable that she would eventually pay for her bravery with her life.

 

According to an analysis by Black Book, it has emerged that the frequent appearance of luxury cars—both classic and modern—on social media sites such as Instagram have some direct influence on their resale value. When celebrities like David Beckham and Dwayne Wade post their photos on social sites that include their admirable luxury automobiles, whether classic or modern, people take note and react to them.

Social platforms provide a way to publicize luxury cars

Social networking can be linked to the craze seen among the younger generation of collectors that is taking over the genre of exotic cars, making the auction prices rise drastically. According to Eric Lawrence, the Black Book director of specialty, the well-off collectors see the images of luxury cars posted on social media by celebrities, which drives up the demand of the particular exotic cars.

The common trend is quite different from several decades ago, when exotic cars were reserved for the real stars, such as Roger Staubach, Frank Sinatra, and Marilyn Monroe. Moreover, the few who could afford the cars kept a low profile. Additionally, there were few media outlets for them to show off their prized possessions. However, nowadays, even the not-so-prominent basketball players can manage to buy a luxury car, like a Ferrari or Bentley, and thanks to social media, they can show off to all.

Eric Lawrence notes that consumption has become something to show off, and it is common, for example, to see someone post a picture of themselves on Instagram as they hit a golf ball from the roof of their luxury car, such as a Bentley.

Do you also want to make a serious statement with the car you will arrive in at a function or event? Well, you should look no further than milanirentals.com, the leading and most reliable exotic car rental service that covers many locations in the region. Here, you will get the luxury car of your choice.

Economic recovery contributes to the growth of the vintage cars market

In the period between 1977 and 2008, the stars most common cars—the Aston Martin DB5 coupe, the Mercedes-Benz 300SL Gullwing, and the Ferrari 250 GTL—registered a rise in value by 5% each year. From 2008 onward, these cars have recorded an appreciation in value by as much as 60% each year.

According to McKeel Hagerty, the founder of Hagerty Insurance, which offers insurance coverage for classic and collectible cars, there are factors other than social media that influence the luxury car market. McKeel identifies the economic recovery after the financial depression as a significant factor causing the high growth in the vintage cars market. He adds that social media has also played a role in the extraordinary growth,as studies have shown automobile pictures being posted in big numbers on Facebook, coming after kids and pets.

New multimillionaires and the newly made industrialists are the users of social media

Eric Lawrence clarifies that the Black Book study capitalizes on trend forecasting and opinion evaluation by his team of experts. It is not lost on him that most of the older wealthy people do not use social media as much, so their findings mostly concern the new multimillionaires and upcoming industrialists, who form the second tier of the very affluent. The members of the group are the ones inclined to post things on social media or to be vulnerable to the “Instagram effect.”

Conclusion

The appreciation in the value of luxury cars and the growth in their production and purchases has registered an unprecedented upward trend, thanks to the massive amounts of money in circulation and the social media effect. New billionaires are emerging every year, and there is still room for more. Bearing in mind that the highly affluent like to flaunt their wealth—mostly through their cars—luxury cars will continue rising in value, and will be produced and sold in throngs.

Maummar Gaddafi

Muammar Gaddafi has got to be shaking in his boots tonight. With the killing of Osama Bin Laden, the Libyan dictator must be feeling the psychological pressure – knowing that the United States military could take action against him personally at any time if it learns where he is hiding. His only hope is that the United States believes that it has no more reason to kill him than it does any other number of dictators in the world. But that may be a vain hope since President Barack Hussein Obama has pinned his own personal popularity to success in Libya – which represents a third front in the war on terror.

Scenes of the American public celebrating in Times Square and in front of the White House are bound to give Gaddafi pause as he considers his next move against the Libyan rebels.

Gaddafi has a history of seeking to preserve his own life. The violent dictator famously decided to rid his country of weapons of mass destruction a number of years ago when he correctly surmised that hanging on to his arsenal of such weapons would point the tip of the spear of western militaries against Libya. He ended his nuclear weapons program and this move resulted in the lifting of UN sanctions in 2003.

Furthermore, Gaddafi has tasted the wrath of the United States before. In 1986 President Ronald Reagan ordered a bombing attack against Libya, including the targeting of his personal compound in Tripoli in response to Libyan-inspired attacks at the Rome and Vienna airports, the Gulf of Sidra incident, and the La Belle nightclub bombing in West Berlin. Operation El Dorado Canyon involved joint U.S. Air Force, Navy, and Marine Corps air-strikes against Libya on April 15, 1986.

Now Gaddafi knows he is being targeted by the U.S. once again, despite official U.S. denials. There is not hiding that fact given the attack hours ago that allegedly killed Gaddafi’s youngest son and several of his grandchildren.

It will be interesting and instructive in the coming days to see if Gaddafi ups his inflammatory rhetoric against the United States or seeks to sue for peace with NATO. Whichever direction Gaddafi now takes will speak volumes about the level of concern Gaddafi has for his personal safety.

Related Stories:

http://conservativedailynews.com/2011/05/still-awaiting-obamas-press-conference-new-details-emerge-concerning-the-death-of-osama-bin-laden/

http://conservativedailynews.com/2011/05/sunday-newsflash-obama-to-address-nation-at-1030-p-m-edt/

FPCON Bravo set at all US Bases –  What is Force Protection Condition Bravo?

PFCon Bravo at MCAS New River, NC

Obama seeks Political Advantage from Death of Bin Laden

 

Black Virginians overwhelmingly think Virginia Gov. Ralph Northam should remain in office despite the recent scandal over one of his 1984 medical school yearbook photos showing two people dressed in blackface and a Ku Klux Klan outfit.

Overall, residents of Virginia are more split on the question with 47 percent saying Northam, a Democrat, should stay and 47 percent saying he should resign, according to a Washington Post/Schar School poll conducted Wednesday through Friday. When the polling data is split by race, the numbers begin to tilt.

Black Virginians believe Northam should stay in office 58-37 percent. White Virginians are slightly more likely to call for Northam’s resignation at 48-46 percent, well within the margin of error of 4.5 percent.

The polling data also shows that Democrats think the governor should remain in office 57-40 percent, Republicans think he should step down 56-42 percent and Independents also think he should resign 47-43 percent.

Northam’s approval rating has dropped to 43 percent, the lowest rating of any Virginia governor in a WaPo poll since 1997.

Northam initially admitted to being in the photo and apologized. A day later on Feb. 2, Northam walked back his apology and said the yearbook photo was not of him and was added to his page without his knowledge. Northam did admit to wearing shoe polish to impersonate Michael Jackson at a 1984 dance contest.

Seven out of 10 Virginians do not believe Northam’s excuses in his Feb. 2 new conference after his earlier apology, according to WaPo.

While continuing to deal with fallout from the scandal and following gaffes, Northam suggested that the yearbook photo controversy could make him a better governor in a Saturday interview with WaPo.

“I have a lot more to learn … The more I know, the more I can do,” Northam said. “I want to heal that pain, and I want to make sure that all Virginians have equal opportunity … and I think I’m the person that can do that for Virginia.”

The employment cost index rose 2.8 percent for the second quarter, the biggest increase since the third quarter of 2008 according to a new a report from the Bureau of Labor Statistics released Tuesday. Compensation for workers rose to a nearly 10-year high in the second quarter shows the report.

The employment cost index increased 0.6 percent for civilian workers in the three-month period ending in June, according to report.  “That brought the 12-month rate up to 2.8 percent, the highest level since 2.9 percent in the third quarter of 2008, amid the financial crisis and the Great Recession,” reports CNBC. 

The employer cost index rose in manufacturing, construction, and services. Compensation for transportation rose 4.0 percent, bolstering arguments that the labor market is tighter in trucking than the broader economy reports Breitbart.

Wages and salaries rose 0.5 percent for the quarter and 2.8 percent for the 12-month period, while benefits costs increased 0.9 percent and 2.9 percent, respectively says CNBC.

However, it’s worth noting that pay gains overall slowed in the second quarter. Total compensation increased just 0.6 percent, which is down from 0.8 percent in the first three months of the year.

Pakistani Prime Minister Imran Khan announced he will release a captured Indian pilot, a move he is calling a “peace gesture” after the two nuclear powers engaged in their first aerial combat in nearly five decades.

“De-escalation should not be understood as a sign of weakness,” Khan said Thursday, telling his country’s parliament that he will release the Indian pilot on Friday. “These tensions do not benefit Pakistan or India.”

The announcement comes as political tensions between India and Pakistan escalated into a military conflict in the past couple weeks. India has blamed Pakistan for a Feb. 14 terrorist bombing in Kashmir — a long disputed region between the two countries — that resulted in the death of 40 Indian paramilitary officers. The Pakistani government, however, denies having any involvement in the bombing.

Both countries went on to attack each other in back-and-forth bombings, raising fears among the international community that the two nuclear powers would enter into war. Tensions reached a fever pitch on Wednesday when Pakistan shot down two Indian fighter jets that were flying within the country’s airspace and ultimately captured one pilot, Abhinandan Varthaman.

Footage of Varthaman being interrogated by Pakistani officials while drinking tea has since gone viral on the internet.

The Indian government referred to the release of the video as a “vulgar display” that violates the treatment of captured prisoners of war. Other military experts have concurred that the release of the video violates regulations set out in the Geneva Conventions, which both India and Pakistan have signed.

It’s not clear yet if the pilot’s release will set the pace for de-escalation. Hostilities continued on Thursday, with Pakistan claiming that four civilians in Kashmir were killed by Indian fire — a skirmish that India has blamed Pakistan of initiating.

While Khan says he is offering the Indian government an olive branch by releasing the pilot, he has vowed to respond to any further military action.

Kashmir –a mountainous region in the northern region of the Indian subcontinent — has been a source of major conflict for India and Pakistan. The two countries control different parts of Kashmir, but both claim the entire region as their own.

If seeing and rooting for a tough female lead kicking butt is your thing, then Atomic Blonde is the picture for you. I’ve always enjoyed pictures with strong women battling it out like in the Fast and Furious films or seeing UFC champion Ronda Rousey kick butt in the ring or Gal Godot laying waste to evil doers as the new Wonder Woman. Now, Charlize Theron as Lorraine Broughton – a rough,  tough, cigarette smoking American spy with the CIA working with British Spy organization MI6, is pushing the envelope.

She is an agent who is strong, proudly feminine and tough as nails in a film that takes place in 1989 during the fall of the Berlin Wall.

She’s on a mission to retrieve a crucial document from a fellow agent who’s gone native while on assignment in East Berlin. The plot is pretty basic in order to hang on all the action sequences which see her teaming up with the agent David Percival to rescue an informant known as “spyglass’” who’s in possession of a list of double agents before Soviet baddies can get him. Got that?

Although she is very adept at fighting four guys at once and beating the crap out of them like a human cyborg, I thought the first hour was long and drawn out. Her character seemed very cold and unemotional and one dimensional.  This first hour seemed more of a vehicle for Charlene to expose her eroticism with her sexy, black fishnet and garter outfits and sexy breathy voice and is told to MI6 agents in flashbacks.

It wasn’t until the second hour when things really start to pick up.  The knockdown, drag out fight with Russian agents included her shooting them in the head, bashing them against walls causing blood to splatter all on the walls. I didn’t think it was as violent as some reviews said and I thought there could have been more action and less talking to move it along faster.

Her character is based on a graphic novel piece “The Coldest City” and paves the way for a possible series with a female James Bond character. In the novel Lorranne is seduced by a male French agent, but in the movie they decided to gender switch it and have the agent a female and they have a tastefully done sex scene to reach a modern audience.

“The relationship was flipped before I came onboard. It was a great idea. You always have to find ways to contemporize these stories, reach bigger audiences and be provocative in your storytelling,” said director David Leitch.  He may be right, but I respectfully decline here.

Overall plot wise it is a good spy vs.spy vs. spy movie with some great choreographed fight scenes. I understand Charlene has been trained to do many of her own stunts too and she is entertaining to watch.

WATCH: ‘Atomic Blonde’ Trailer [Video]

Millennials are spending more on near-term fun like Halloween candy, decor, and costumes while putting less into retirement savings and hard assets than other demographics according to a recent survey.

The new Harris Poll showed that Millennials expect to spend 2.5 times more than Gen Xers and 8 times more than Boomers on Halloween related items. However, just 38 percent of Millennials say they are preparing for retirement, falling behind Gen Xers (62 percent) and Boomers (48 percent).

“Millennial consumers continue to demonstrate how they value experiences and are spending and saving accordingly,” said Ravi Kumar, head of Internet Banking at CIT Bank. “From costumes to parties, Halloween is all about enjoying the moment and has become one the most popular celebrations for those between the ages of 18-36.”

While the average consumer is expected to spend about $80 on Halloween products this year, Millennials say they will spend an average of $183.

As the 18-36 demographic continues to value experiences over hard assets like owning a home or saving for retirement, retailers are adapting. Macy’s started hosting miniconcerts and cafes in 2016 to draw in the younger consumers.

A 2016 Harris poll showed that Millennials view ownership differently than previous generations did. While young adults have traditionally placed high value in a car and home, many younger adults now see them as major commitments.

As tax filing season begins, the Department of Justice warns taxpayers to beware of unscrupulous tax return preparers. The Department of Justice applies both civil and criminal tools at its disposal to shut down illegal tax return preparation activity. Taxpayers should always remain wary of tax return preparers who claim they can obtain larger refunds than others or engage in other unscrupulous practices.

While most tax return preparers are professional and honest, some prepare returns with false information in order to improperly boost a taxpayer’s refund or reduce their liability or to increase business and preparation fees. But, under the law, taxpayers are responsible for what is reported on their returns. When the IRS uncovers the falsehoods, the taxpayer can face penalties and interest and, if circumstances warrant, criminal prosecution.

“Fraudulent tax return preparers harm taxpayers, legitimate businesses, and the American public,” said Principal Deputy Assistant Attorney General Richard E. Zuckerman.  “The Justice Department is committed to working with our partners at the Internal Revenue Service to protect the law-abiding American public and the treasury by stopping this fraud.”

Every year, the Justice Department’s Tax Division, in collaboration with U.S. Attorney’s Offices, files dozens of civil actions throughout the United States seeking court orders to shut down tax return preparers who allegedly prepared false tax returns, and to punish dishonest tax return preparers for their fraudulent activities. When the evidence supports criminal enforcement action, the Department of Justice and U.S. Attorney’s offices pursue criminal prosecutions of tax return preparers.

In 2019, the Justice Department has already obtained several injunctions barring individuals from filing returns for others, and filed actions against numerous others:

• On Jan. 4, 2019, a federal court in Indianapolis, Indiana, permanently enjoined Antonio Chappell and G & A Tax Service LLC, from preparing federal tax returns for others. The court noted that the defendants had prepared tax returns with a wide range of scams, including falsifying reported income or losses to wrongfully increase or claim the Earned Income Tax Credit, fabricating education expenses to obtain the American Opportunity Credit for certain educational expenses; misrepresenting a taxpayer’s filing status; and reporting non-qualifying dependents to take advantage of the Additional Child Tax Credit.
• On Jan. 7, 2019, a federal court in Orlando, Florida, entered a preliminary injunction barring Erotida Harden, Michael Harden, Aida Cortes, Yahaira Claudio, Tamika Robenson, Natasha Williams, and Certified Taxes LLC, from acting as tax return preparers and directing them to immediately close all tax return preparation stores that they currently own directly or through any entity and not to reopen them without a court order.
• On Jan. 16, 2019, a federal court in Orlando, Florida, entered a preliminary injunction barring Marcgenson Marc, Tiana Character, LeNorris LaMoute, Dosuld Pierre, Shirleen Thales, Advanced Tax Services Inc., Genson Financial Group LLC, and Character Financial Solutions LLC from acting as tax return preparers and directing them to immediately close all tax return preparation stores that they currently own directly or through any entity and not to reopen them without a court order.

Examples of some recent criminal convictions obtained by the Tax Division include:

• On Jan. 28, 2019, a Minneapolis-based tax return preparer was sentenced to serve 121 months in prison for managing and directing a fraudulent return-preparation business, which prepared returns that reported false dependents, fake business income and losses, inflated deductions, inflated credits, and false filing statuses, in order to get customers inflated refunds.
• On Nov. 14, 2018, a Las Vegas, Nevada, tax return preparer was sentenced to 37 months in prison for aiding and assisting in the filing of false tax returns that included multiple false items, including charitable contributions, capital loss deductions, energy tax credits, and unreimbursed employee expenses—such as business meals and transportation expenses.
• On Sept. 13, 2018, a resident of Winton-Salem, North Carolina, who was licensed as an attorney in Georgia, was sentenced to 13 months in prison for aiding and assisting in the preparation of fraudulent tax returns.

In the past decade, the Tax Division has obtained injunctions against hundreds of unscrupulous tax preparers and tax scheme promoters. Information about these cases is available on the Justice Department’s website. An alphabetical listing of persons enjoined from preparing returns and promoting tax schemes can be found here. If you believe that one of the enjoined persons or businesses may be violating an injunction, please contact the Tax Division with details.

In addition, when selecting a tax return preparer:

• Be wary of tax return preparers who claim they can obtain larger refunds than others can.
• Avoid tax return preparers who base their fees on a percentage of the refund or who offer to deposit all or part of your refund into their financial accounts.
• Ensure you use a preparer with a preparer tax identification number (PTIN). Paid tax return preparers must have a PTIN to prepare all or substantially all of a tax return.
• Use a reputable tax professional, who enters their PTIN on your tax return, signs the tax return, and provides you a copy of the return (as required).
• Consider whether the individual or firm will be around for months or years after filing the return to answer questions about the preparation of the tax return.
• Never sign a blank tax form.
• Check the person’s credentials. Only attorneys, CPAs, and enrolled agents can represent taxpayers before the IRS in all matters, including audits, collections, and appeals.

The IRS has some information on its website about selecting a return preparer and has launched a free directory of federal tax preparers and a list of tips for choosing a tax preparer.