We are trapped in a world with far too few IRS audits. Law abiding tax payers hate being audited and their representatives in Congress have heard the message loud and clear - strangling the ability of the IRS to conduct field examinations. The problem with the current state of affairs is that non-la ... Read more

G10 Advancers and Decliners vs USD GBP -0.24 JPY -0.41 EUR -0.90 CHF -1.08 The USD has recouped some of its recent losses today as equity markets failed to sustain the positive momentum of yesterday’s strong rally. EURUSD has sold off markedly from its early visit to 1.49 ... Read t ... Read more

One of the most common examples brought forward by those who oppose the abolition of governmental regulation of consumer products is that of the automobile. The rationale for the objection is that the automobile is the most expensive and complex consumer product that most will buy in a lifetime. ... Read more

Mary O'Keeffe thinks maybe so ; Peter Pappas thinks not . It probably is unwise to compensate for normal audits. They're a cost of doing business. If the IRS audits you twice in a short period with no changes, I would argue otherwise. The strongest case for paying audit victims is when the IRS do ... Read more

From the Kudlow show... Rick Santelli recalls Paul Volcker thusly: "I can't remember the exact quote but when I used to trade and Mr. Volcker was Fed chairman, he said something like 'gold is my enemy, I'm always watching what gold is doing', we need to think why he made a statement like that. If yo ... Read more

Click on graph for larger image in new window. Total housing starts were at 529 thousand (SAAR) in October, down 10.6% from the revised September rate, and up from the all time record low in April of 479 thousand (the lowest level since the Census Bureau began tracking housing starts in ... Read more