[photo] Mark Jeftovic

easyDNS CEO, Career Contrarian & AntiGuru

Go ahead, pass the Internet tax. Your (foreign) competitors thank you in advance.

Fotosearch_k5135036The internet is a pretty stupid place to pass a tax, and the US looks well down the road to passing one.

What lawmakers fail to understand is that taxation specific to the internet, ostensibly to boost revenues into government coffers, in practice will probably diminish them as US businesses lose competitiveness against foreign companies.

To our American friends, easyDNS is a foreign company, so don't let us stop you.

We are queuing up an email right now to send to all our US customers and once it passes we'll remind everybody that we're not a US firm and thus … Read the rest

Canadian Bail-In: When Canuck Depositors Get Smoked Will The CDIC Be Any Help?

Not long after the Cyrpus”bail-in” happened markets were spooked when Dutch finance minister Jeroen Dijsselbloem (a.k.a Diesel-BOOM… Read the rest or just D-Boom for short) called it “a template” for future rescue actions.

 

Global Finance has Devolved into a game of Calvinball

 

Familiar with “Calvinball” ? The game of choice in a comic strip, whose nonsensical and kafka-esque rules now describe global finance more accurately than any other model.

Forget Rule of Law, forget the sanctity of private property and given …… Read the rest

The War on Savers Intensifies as Cyprus nabs depositors in bailout

As reported via Bloomberg:

Euro-area finance ministers agreed to an unprecedented tax on Cypriot bank deposits as officials unveiled a 10 billion-euro ($13 billion) rescue plan for the country, the fifth since Europe’s debt crisis broke out in 2009.

…… Read the rest

Confessions of an Economic Witch Doctor

I just read about Jeffries economist Jim Zervos’ note to clients on BI, in which he admonishes the “Austrian economist types” and “perma-bears” for being so gloomy, for likening this current bull market to a “sugar high”. Because in …… Read the rest

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