It’s A Funny Old World

“Fight Against Stupidity And Bureaucracy”

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It definitely is a funny old world, especially when it comes to global warming and particularly the reasons for it happening – even though it isn’t.

It has also been funny watching all the pseudo-scientist and political upstarts trying to jump on this bandwagon to try to promote themselves in the public eye. Al Gore managed to bag himself a discredited Nobel Peace Prize and millions of dollars with his well timed trip on this gravy train. Although I still don’t know what global warming had to do with a prize for peace because as far as I know they hold wars in all temperatures!

I say “global warming” because that was what they called it. Scientists even falsified data to “prove” that the planet was getting hotter and hotter because of the increased emissions of carbon dioxide generated by us, people. We may well be in the midst of a climate cycle, but the reliable evidence does not show that it’s our fault. Nor is it the fault of too many cows letting too many farts, which was another one of the not so scientific theories that was doing the rounds a few years ago.

Then there was the theory that the Polar ice caps were all going to melt, raising the sea level so much most of us would drown. Technically I suppose if you were keen enough you could drown in a couple of inches of water, but I think personally I would just pull on my gumboots and walk casually toward some higher ground.

Unfortunately for it’s supporters, the REAL evidence has been showing little or no change in average temperatures, certainly not the apocalyptic amounts forecast by the flawed models of the global warming scientists.

On that very subject, some of these scientists are currently “baffled” by the fact that, rather than the Polar ice caps melting, there now seems to be an all-time record area of sea covered by ice around the Antarctic’s coasts.

The beautifully named lead scientist at the US National Snow and Ice Data Center, Ted Scambos, admitted “What we’re learning is, we have more to learn,” as he announced the latest annual sea ice maximum for the austral continent.

The sea ice surrounding the Antarctic continent reached its maximum extent on September 22, 2014, at 20.11 million square kilometers (7.76 million square miles). This is 1.54 million square kilometers (595,000 square miles) ABOVE the 1981 to 2010 average extent, which is nearly four standard deviations above average.

This new record follows consecutive record winter maximum extents in 2012 and 2013. The reasons for this recent rapid growth are not clear. Climate scientists have been puzzled by the behavior of the southern ice for many years.

You have to laugh as you watch the pro-global warming scientists squirm as they try to fight off reality by proclaiming that their forecasts should be correct and what is actually happening should be wrong!

Suck it up guys, whoever created the model to show that the icecaps would melt was wrong, not the ice caps!

In fact, air temperatures have been steady for the last fifteen years and more, and deep ocean temperatures are not increasing either. They call it a mystery. The real mystery is why anyone still takes them seriously!

But, remarkably, a lot of gullible people still do. When it became too obvious that there was no global warming, rather than giving up their lucrative money and publicity maker, it’s proponents simply changed the name from “global warming” to the more generalized “climate change”.

And as recently as the last weekend of September, hundreds of thousands of these idiots turned out in the ‘People’s Climate March’ in New York City calling for governments to address the so-called “crisis” surrounding climate change. The demonstration was timed to coincide with a meeting at the United Nations to discuss how countries can come together to combat temperature fluctuations, hurricanes, tornadoes, drought, blizzards and other forces of nature.

So, if the evidence does not back up the theory of global warming (er, I mean… climate change) being the fault of mankind, why do governments persist in wasting time on the subject with wide-ranging plans and conferences in a host of different countries?

There are various reasons.

Politicians like Obama used it to get himself elected and has had to stick with the lie ever since or back down and publicly admit he was a fool. Other politicians in other countries are similarly caught.

Also a false crisis like global warming is a welcome distraction from some of the real crises we are facing due to continued government incompetence.

And the manufacturing of a global warming crisis leaves the way open for the imposition of “carbon taxes” and other spurious ways for governments to try to steal our money. Watch so-called “carbon taxes” being levied on corporations who will no doubt pass on the cost to the people who buy their products.

Yes, that’s you and me, folks. We’re going to have to pay to fix something that isn’t even broken!

It’s painful to have to watch this going on. Even more so when there seems to be nothing that we can do to bring stupid people to their senses. All you can do is have a rant now again.

Oh, look, I just did!

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Charles Munger Agrees With Me.

“Fight Against Stupidity And Bureaucracy”

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I always think it’s nice when someone agrees me. Even more so when they are well versed in the subject matter.

Charles Munger is such a guy. And he agrees with me, or at least he would do, had he read a post I wrote recently about Burger King’s move to Canada to avoid high US corporate taxes. (Click here if you want to read it.)

Anyway, we’re saying the same thing, and that’s what matters.

For those readers who don’t know who Charles Munger is, he is vice chairman of Berkshire Hathaway Inc., the world famous investment company headed by Warren Buffet, one of the richest men in the world.

Munger says people who criticize Burger King’s plan to shift its headquarters to Canada, where tax rates are lower, are “stark raving mad”. What they should be calling for are cuts in corporate taxes to encourage business to stay in the US and even relocate there.

More than 40 U.S. companies have reincorporated abroad since 1982.

In fairness it has to be said that Munger does have a vested interest of sorts to stick up for Burger King. Berkshire Hathaway committed $3 billion to help finance Miami-based Burger King’s planned takeover of Tim Hortons Inc., the doughnut maker with headquarters in Oakville, Ontario.

But that’s not why he said what he said. He is smart enough to know what is good for business generally and levying hefty taxes on corporations is not good. In fact he said, “If I were running the world, I would probably have low corporate taxes and get at the well-to-do people in some other way, like consumption taxes.”

Unfortunately President Barack Obama isn’t so smart. He has continued to criticize American companies that move to other nations in search of lower corporate tax bills.

And his Treasury Secretary, Jacob J. Lew, has recently announced new rules aimed at making it more difficult for American companies to lower their tax bills by relocating overseas and that would wipe out the benefits for those that do.

The changes will affect only deals that are completed from now on. But they could include pending inversion deals, like the one involving AbbVie, an Illinois-based pharmaceutical company that is in the process of acquiring its smaller British rival, Shire, or the Minneapolis medical device maker Medtronic, which is acquiring Covidien in Ireland.

And if the government continues on this path what will happen?

I think if US companies are prevented from making these kind of deals by ever greedy and intrusive government legislation they will simply close down altogether in the US. Wealth creation will be lost, many thousands of jobs will be lost and America will lose its long held position as the commercial powerhouse of the world.

When the American people were offered “Change” I don’t think this is what they were expecting.

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It’s Hard To Love Your Country When It’s Government Doesn’t Love you Back!

“Fight Against Stupidity And Bureaucracy”

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A few weeks ago I wrote a post that I called “Why are the bureaucrats destroying what made America great?” (if you want to refer to it please click here) 

In it I posed the question as to why a self-defeating wealth-distributing philosophy is taking the place of the business-friendly environment that America is famed for and that made it the wealthiest nation on Earth. And why the bureaucrats are trying to make it increasingly more difficult and expensive for businesses to operate in the US rather than offering more incentives and encouragement.

The example I gave in the previous post was the huge pharmaceutical corporation called AbbVie, which was relocating from Chicago, Illinois, to Europe and thereby effectively cutting its tax bill in half – a significant saving when you are generating billions of dollars in revenue each year.

Now the latest corporation to show its frustration with the way things are deteriorating in America is the Miami based fast food giant Burger King. It is currently in merger talks with Canadian coffee chain Tim Hortons, in a deal that would allow Burger King to relocate out of the US with a view to trying to cut its “big whopper”  of a tax bill too.

Since the new company would be headquartered in Canada, Burger King would no longer be liable for punitive US taxes which are now regarded as the highest among developed economies.

It’s another high profile example of what is called an ‘inversion’ deal, a strategy that allows US firms to lower their tax bills by merging with a foreign company, and then relocating to the new country.

The Obama administration’s response has been predictable  –  cry foul, say it’s not fair, and tell these corporations to forget about the best strategy for their business and just wrap themselves in the Star Spangled Banner.

“My attitude,” the President declared in July, “is I don’t care if it’s legal — it’s wrong.”

It’s great to love your country, but it’s tough when the government of your country doesn’t love you back! And it will take more than bogus emotional claptrap to change the minds of hard-headed businessmen.

What Obama and his henchmen should be doing is asking themselves why it is happening and what THEY are doing wrong that makes these giant wealth creating corporations want to get out of America as fast as they can.

But they won’t do that.

That would make sense –  and sense is the last thing that the bureaucrats want to apply to any situation.

So they’ll continue to spend money they don’t have, on things the country can’t afford and probably doesn’t need, and then pass the bill on to the tax payers.

Their short term solution to these corporate inversion deals will be to try to legislate to make them illegal. Good luck with that, I have never seen legislation drafted by an idiot bureaucrat that a team of top corporate lawyers couldn’t drive a coach and horses through.

So rather than stopping the exodus, it’s more of a question of what will be the next corporation to leave???

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Is Your Life Insured?

“Fight Against Stupidity And Bureaucracy”

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It’s an interesting question.

But worry not, I am not going to try to sell you an insurance policy nor even recommend one.

Quite the reverse in fact.

Many people have some kind of life insurance for the financial protection of their families if they should be unfortunate to pass away unexpectedly.

It is usually for enough money to pay off the mortgage with a little left over to provide some kind of income for the wife and kids.

At least that’s how it should be.

But there is a growing trend for employers to insure their employees. A nice gesture you might think at first. Until you find out that the beneficiary of the insurance would not be the survivors or estate of the insured employee, but the corporate pension plan!

It is unofficially known as “dead peasant” insurance, and hundreds of corporations have already taken out policies worth hundreds of billions of dollars, on thousands of employees, providing companies with a steady stream of income as current and former employees die  –  even decades after they have retired or left the company.

And new “dead peasant”policies worth at least $1 billion are being put in place every year!

Unsurprisingly the greedy money-grabbing banksters are especially fond of the practice. Bank of America’s policies have a cash surrender value of at least $17.6 billion; Wells Fargo’s at least $12.7 billion; and JPMorgan Chase at least $5 billion, according to filings with the Federal Financial Institutions Examination Council.

Of course the tax-men are to blame too – aren’t they always? – because so-called company-owned life insurance offers employers generous tax breaks. For example, company-paid premiums are tax-free, as are any investment returns on the policies and the death benefits eventually received. Although having said that it has to be admitted (grudgingly) that the I.R.S. has taken companies including Winn-Dixie and Camelot Music to court for using such policies as tax avoidance schemes.

Many people faced with a request from an employer to consent to such a policy are too afraid not to comply in case it affects their job or promotion prospects. They shouldn’t be because that would probably be illegal as well as unethical. Class-action lawsuits against several companies with such policies are already underway or have been settled. Several companies, including Walmart, settled the suits, paying millions to low-ranking employees who had been covered.

So if you are uncomfortable with the thought that your company might profit from your death, don’t sign up.

And as for the corporations? I’m as fond of making a few bucks as the next man, but you have to draw a line somewhere and I think corporations should be content with the contribution their employees make to their company profits when they are alive, instead of conniving to profit from their deaths also.

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