John's Twitters for 2009-06-10

John's Twitters for 2009-06-10

  • Cisco: Global IP traffic will increase five-fold to 667 exabytes by 2013, and video will represent 91% of all global consumer traffic. #
  • RT @pamelarutledge Hey financial types! Need information about Hybrid 401K products. Anyone know anything, links or know anyone who knows? #
  • April Wholesale inventories -1.4% from March and -6.2% from year ago, to $405.4B. Sales -0.4% from March and -19.5% from last year, … #
  • @SBombeck yep. Inventories spiked higher last Sept when people stopped buying and started hoarding cash. Big inventories lead to layoffs. in reply to SBombeck #
  • Interesting inst. econ. working paper. Conseq of French Revolution. Argue revol. broke up monopolies & spurred growth #
  • Working paper: Property Rights and Income Inequality. stronger property rights assoc. with higher income inequality #
  • I am short long Treasuries. Rates are going a good bit higher this summer when people figure out the credit crunch has been broken. #
  • @illyric the crunch-nonprice credit rationing-is on the investor/lender side, not the borrower side of the market. Improving now. in reply to illyric #
  • IMF announces China’s Intention to Invest Up to US$50 billion in Notes Issued by the IMF. Good move to diversify credit risk from US Treas. #
  • A recent IRS study estimated that small business spends approximately $100 billion a year on tax compliance. (enough to pay 1M workers) #
  • NBER working paper. The Distinct Effects of Information Technology and Communication Technology on Firm Organization. #
  • from working paper-better info tech (ERP, CAD/CAM) associ with more autonomy and wider span of control. #
  • tax compliance cost higher as % of sales & per job–for small bus than big bus due to fixed tax filing, compliance costs #
  • Big bus spend just 0.5% of sales on tax compliance, bus with sales $100,000-$500,000 spend 5% of sales on it. #
  • Red tape. Obama admin proposes businesses, beginning next year, file 1099s for all payments for services above $600 made to corps. #
  • Obama admin proposes small bus have to verify with IRS Taxpayer Info Nos. (TINs) of contractors, withhold taxes when they can’t be verified. #
  • Obama admin. proposes to signif incr fines for failure to file accurate info report–doubling penalties & tripling max penalties per year. #
  • Obama admin budget expands who will be req to file info reports, include people who rent a house, an apt., or rent their home for summer. #
  • landlord will have to file a 1099 when you pay a plumber $600 to fix leak at the house you rent out-don’t forget to verify plumber’s TIN! #
  • Tax hungry admin proposals for info reporting will add to ever-increasing cost on small business. We can’t afford it. Raise your voices! #
  • The lesson from the 1970s-inflation hedging doesn’t work. IMF working paper, Inflation Hedging for Long-Term Investors. #
  • I’m betting oil prices go higher. New issue of International Petroleum Monthly the latest international petroleum stat. #
  • Obama Admin will require banks that received TARP funds to submit changes to exec pay to a fed pay czar-even after TARP funds paid back! #
  • New figures/chart of OPEC oil revenues FYI. #
  • @LeShipit I own STO (Statoil, the Norwegian oil company) in reply to LeShipit #
  • Treasury-10 banks approved to pay back $68 billion. Does not incl Citi or BofA. #
  • EIA-OPEC $530 billion net oil export revenues in 2009 and $620 billion in 2010. #
  • The Supreme Court denied Indiana pensioners’ bid to block the government-backed sale of Chrysler to Italian automaker Fiat Tuesday evening. #

John Rutledge


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