Soulja Boy Arrested in Arizona

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According to TMZ, DeAndre Cortez Way, better known as Soulja Boy, was arrested for marijuana possession this morning at 3:15 a.m. in Arizona and is being held in jail. The 21-year-old rapper was allegedly in a car with four others when they were pulled over for a traffic violation. While they were stopped, police reportedly found about $70,000 in money and drugs, and guns were also present in the car. All five men, including Soulja, were arrested. An investigation is underway.

Posted By: Elvi$ V.

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EXCLUSIVE: ‘An Autumn America’ :: Occupy = What Democracy Looks Like!

Written by our newest colleague via: 

 “We are here to take back what is already ours”

Its January 25th, 2011 the world has their eyes on a nation that finally grew tired of the oppression, the greed, and the isolation that their government had put them through for more than 30 years. Finally, the Egyptian nation stood up, went out and marched, protested, and demanded their country be returned to the rightful owners…THE PEOPLE. It was a time of great pride for the Egyptian people, a time for their voices to be heard. A time for revolution that has come to be known as the “Arab spring.”

As the world watched and for the first time in too long witnessed true democracy unfold, many of us began to question if that was ever going to happen here; what about us?

And so it continued. More Arab nations began to rise up and have their voices heard. Europe was not to be left behind. Those English stood up, looked at each other and said “HELL NAH!” and protested in what became known as the “European summer.” Again, we stood back and questioned if that was ever going to happen here, what about us?

Well, what about us? Aren’t we tired of the bullshit also? Aren’t we tired of the corruption, the lies, and all the stealing? It didn’t seem as if there was going to be any sort of uprising, like Americans were going to sit back and watch without being inspired. Inspiration, however stubborn the person is, is a hard feeling to fight. Well, thousands of us took it in and are now saying enough is enough.

IT JUST GOT REAL FOLKS

October 2011, right on time for autumn, right on time to name our season, the American fall. For too long our country has been in the hands of the corporate oligarchs, the greedy Wall Street executives, the corrupt politicians who through their lies and manipulations have lead us to catastrophe. With more than 14 million people unemployed bringing the rate to 9.1%, a poverty rate of 15.1% meaning more than 45 million people living below the poverty line, budget cuts to the most essential sources such as health care and education, it is time we take back what was stolen from us decades ago. The 99% against the 1% a group of people who own 70% of the nation’s financial assets making America the country with the highest inequality in the industrialized world. If the media wants a reason for why we’re protesting, there it is.

This is class warfare and we’re losing

So we’ve taken to the streets, following our Arab and European brothers and sisters and demanding that our voices be heard, demanding what is right. Liberty Square in NYC has become the epicenter of what we hope to make a revolution. Thousands of Americans coming out to show their support to the movement by marching, protesting and peacefully demonstrating what we are tired of. As you walk through liberty square there is a somewhat surreal feeling. Surreal in the fact that this raw form of democracy is being acted out right here at home in NYC the worlds leading financial market. Shit like this you only see on TV. Walking through, you also feel a sense of togetherness, a sense of unity, a sense of love for what the movement represents. One cannot walk through, feel those emotions and not think of the revolutionary spirit that went through those in Egypt and other parts of the world.

Of course, no revolution is going to happen without the elite trying to fight back. Police brutality along with government shutdowns of some sections of the MTA has been less than surprising. We must remember that the police force is nothing but a branch of the establishment, so naturally the police will defend the interests of the establishment.

 

They will try and break us, tear us down till we give up. However, the more they attack the more we show up and the more we show up the bigger the movement. The media has not been all that helpful either, portraying the protestors as an uneducated and unfocused group of people who do not know what we are protesting for. One journalist in particular Erin Burnett actually compared our movement to Woodstock…fuckin’ airhead. This is the bourgeois and the proletariat, a classic tale.

Where is Obama in all this? He does not seem to be going against what is happening on Wall Street, saying that this is a reaction to the corporate greed and unfairness that the American people have been facing for decades. It seems though as our brother is letting this ride out, letting it grow to see where it goes. I give it up to him; usually the president will try everything in his power to shut these things down. The President usually will paint us as some radical movement filled with wackos and hippies. I don’t know if it is the upcoming elections or Obama is just tired of the bullshit but it seems as if he is coming around, we just have to wait and see.

So we’ll continue to march and protest till our movement reaches a point they cannot ignore.

October 5th 2011 was nothing to be ignored. New Yorkers came out in record-breaking numbers to march against the corporate oligarchs with the help of major unions such as National Transit Union, United Federation of Teachers, and National Nurses United. Our chants are being heard round the world, our message is strong, and our determination is resilient to every thing. We the people are here to stay and if anyone asks what democracy looks like…well THIS IS WHAT DEMOCRACY LOOKS LIKE!

:: JR§

Kid Cudi x Complex Magazine Cover

Cudi returns to the cover of Complex for their October/November 2011 issue. Mag hits newsstands October 4th, but the entire thing is available to read now. Excerpt from the cover story below.

Is that drug hangover why you disappeared after you released your second album?
“I wanted to clear my head, besides detox. I had to look at the root of the whole problem, and that was work and the business.”

How so?
“I wasn’t trying to hear it from nobody. I’m not even going to attack the people in my life that didn’t step in and try to stop it, ’cause I was just so bullheaded. There’s no way to slow somebody when they’re speeding down a path of destruction.”

“I thought I was dealing with it in the proper way. I was in the moment. And when you’re that young, with that opportunity, all that money, and all that respect and power, sometimes you run with it. ’Cause I was like, Man, you don’t know if this shit’s gon’ be here tomorrow.”

 

:: JR§

Gold Tops $1,900, Looking ‘a bit bubbly’ :: When Will The Gold Bubble Burst?

(Better written, but sounds familiar *wink*)

Via CNNMoney:

Gold prices have been on a tear lately, topping a fresh record high above $1,900 an ounce late Monday– just two weeks after rising above $1,800.

While experts aren’t too worried about each new milestones, they are starting to freak out about the rapid speed at which prices are hitting them. Gold started the year just above $1,400 an ounce.

Gold prices rose 2.4% during the regular trading session to settle at $1,891.90 an ounce. In after hours electronic trading, prices topped $1,900 an ounce for the first time.

“Gold could keep working its way higher, but it is starting to look a bit bubbly,” said Matt Zeman market strategist at Kingsview Financial in Chicago. “The run-up reminds me of what silver did a few months ago. It climbed steadily week after week, sucked everyone in, and then the whole deck of cards came crashing down.”

With investors plowing into gold in droves, the SPDR Gold Trust ETF (GLD), one of the most popular funds for investors seeking exposure to gold, is now the world’s largest ETF with nearly $77 billion in net assets. Since 1993, the SPDR S&P 500 ETF Trust (SPY) held the top spot. It boasts about $75 billion in assets, accord to State Street Global Advisors.

While the “parabolic surge” in the price of gold over the last couple of months is concerning, Lloyd Thomas, professor of economics at Kansas State University, says the rise is also worrisome over a longer period of time.

“Gold is considered a good hedge against inflation,” he said, “But the increase in gold price has far outpaced inflation, especially during the last decade.”

He noted that inflation has only picked up 2.4% on an annual basis during the last 10 years, but the price of the yellow metal has climbed more than 21% a year during the same time period.

Unless higher inflation — to the tune of 10% a year — is forthcoming, Thomas said gold prices are “clearly in a bubble.”

But don’t expect it to burst right away.

“Bubbles can run a long time — just look at technology stocks in the late 1990s and housing prices a few years ago,” said Thomas, adding that gold prices will likely soon threaten their inflation-adjusted high just above of $2,200 an ounce — another warning bell of a things getting a little too frothy, he said.

However, some experts like Adam Klopfenstein, senior market strategist at MF Global, argue that they won’t worry about a gold bubble until prices surpass their inflation-adjusted high.

As fiscal problems linger, Kingsview Financial’s Zeman said gold prices will continue to gain luster, even reaching $5,000 or $7,000 an ounce over the next few years.

“Debt issues in the United States and Europe are playing a huge role in why investors are buying up gold, and those are not going away anytime soon,” noted Zeman. “I don’t see how the United States can get out of debt without further debasing the dollar, so that will continue to support gold prices.”

That said, he’s far from in a rush to buy gold at these lofty prices. Zeman is looking for prices to shave between $100 and $200 an ounce in a correction, and said they could drop as low as $1,650 an ounce, the level gold was trading at before its recent run.

But when that might be is anyone’s guess.

 

:: JR§

Billionaire Warren Buffett: “RAISE TAXES ON SUPER-RICH” :: Tells “billionaire-friendly Congress, get serious about shared sacrifice”

Exactly what I said in one of my previous posts.  If you want to fix the US economy you must raise revenues from raising taxes on the rich! Republicans in congress are always saying if you raise taxes on the rich and big business we will hurt the economy and see no job growth. MEMO to Republicans: Taxes have been at their lowest for over 10 years and the economy hasn’t improved, NO JOBS HAVE BEEN CREATED UNDER REPUBLICAN IDEAS/POLICIES. Check this article out below:

Billionaire Warren Buffett urged U.S. lawmakers Monday to raise taxes on the country’s super-rich to help cut the budget deficit, saying such a move will not hurt investments.

“My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.”

The 80-year-old “Oracle of Omaha” wrote in an opinion article in The New York Times.

Buffett, one of the world’s richest men and chairman of conglomerate Berkshire Hathaway Inc , said his federal tax bill last year was $6,938,744.

“That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income – and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent,” he said.

Lawmakers engaged in a partisan battle over spending and taxes for more than three months before agreeing on August 2 to raise the $14.3 trillion U.S. debt ceiling, avoiding a U.S. default.

“Americans are rapidly losing faith in the ability of Congress to deal with our country’s fiscal problems. Only action that is immediate, real and very substantial will prevent that doubt from morphing into hopelessness,” Buffett said.

Buffett said higher taxes for the rich will not discourage investment.

“I have worked with investors for 60 years and I have yet to see anyone – not even when capital gains rates were 39.9 percent in 1976-77 – shy away from a sensible investment because of the tax rate on the potential gain,” he said

“People invest to make money, and potential taxes have never scared them off.”

Below read the entire open-letter to Congress written by Warren Buffett himself:

“OUR leaders have asked for “shared sacrifice.” But when they did the asking, they spared me. I checked with my mega-rich friends to learn what pain they were expecting. They, too, were left untouched.

While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks. Some of us are investment managers who earn billions from our daily labors but are allowed to classify our income as “carried interest,” thereby getting a bargain 15 percent tax rate. Others own stock index futures for 10 minutes and have 60 percent of their gain taxed at 15 percent, as if they’d been long-term investors.

These and other blessings are showered upon us by legislators in Washington who feel compelled to protect us, much as if we were spotted owls or some other endangered species. It’s nice to have friends in high places.

Last year my federal tax bill — the income tax I paid, as well as payroll taxes paid by me and on my behalf — was $6,938,744. That sounds like a lot of money. But what I paid was only 17.4 percent of my taxable income — and that’s actually a lower percentage than was paid by any of the other 20 people in our office. Their tax burdens ranged from 33 percent to 41 percent and averaged 36 percent.

If you make money with money, as some of my super-rich friends do, your percentage may be a bit lower than mine. But if you earn money from a job, your percentage will surely exceed mine — most likely by a lot.

To understand why, you need to examine the sources of government revenue. Last year about 80 percent of these revenues came from personal income taxes and payroll taxes. The mega-rich pay income taxes at a rate of 15 percent on most of their earnings but pay practically nothing in payroll taxes. It’s a different story for the middle class: typically, they fall into the 15 percent and 25 percent income tax brackets, and then are hit with heavy payroll taxes to boot.

Back in the 1980s and 1990s, tax rates for the rich were far higher, and my percentage rate was in the middle of the pack. According to a theory I sometimes hear, I should have thrown a fit and refused to invest because of the elevated tax rates on capital gains and dividends.

I didn’t refuse, nor did others. I have worked with investors for 60 years and I have yet to see anyone — not even when capital gains rates were 39.9 percent in 1976-77 — shy away from a sensible investment because of the tax rate on the potential gain. People invest to make money, and potential taxes have never scared them off. And to those who argue that higher rates hurt job creation, I would note that a net of nearly 40 million jobs were added between 1980 and 2000. You know what’s happened since then: lower tax rates and far lower job creation.

Since 1992, the I.R.S. has compiled data from the returns of the 400 Americans reporting the largest income. In 1992, the top 400 had aggregate taxable income of $16.9 billion and paid federal taxes of 29.2 percent on that sum. In 2008, the aggregate income of the highest 400 had soared to $90.9 billion — a staggering $227.4 million on average — but the rate paid had fallen to 21.5 percent.

The taxes I refer to here include only federal income tax, but you can be sure that any payroll tax for the 400 was inconsequential compared to income. In fact, 88 of the 400 in 2008 reported no wages at all, though every one of them reported capital gains. Some of my brethren may shun work but they all like to invest. (I can relate to that.)

I know well many of the mega-rich and, by and large, they are very decent people. They love America and appreciate the opportunity this country has given them. Many have joined the Giving Pledge, promising to give most of their wealth to philanthropy. Most wouldn’t mind being told to pay more in taxes as well, particularly when so many of their fellow citizens are truly suffering.

Twelve members of Congress will soon take on the crucial job of rearranging our country’s finances. They’ve been instructed to devise a plan that reduces the 10-year deficit by at least $1.5 trillion. It’s vital, however, that they achieve far more than that. Americans are rapidly losing faith in the ability of Congress to deal with our country’s fiscal problems. Only action that is immediate, real and very substantial will prevent that doubt from morphing into hopelessness. That feeling can create its own reality.

Job one for the 12 is to pare down some future promises that even a rich America can’t fulfill. Big money must be saved here. The 12 should then turn to the issue of revenues. I would leave rates for 99.7 percent of taxpayers unchanged and continue the current 2-percentage-point reduction in the employee contribution to the payroll tax. This cut helps the poor and the middle class, who need every break they can get.

But for those making more than $1 million — there were 236,883 such households in 2009 — I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.

My friends and I have been coddled long enough by a billionaire-friendly Congress. It’s time for our government to get serious about shared sacrifice.”

:: JR§

“SWISS FRANCS the only paper you should buy along with Precious Metals”

This is the beginning of the end my friends, the US dollar and its purchasing power is going down the drain. So this explains the price increases on all products within our borders. The EURO is another currency to throw out of your portfolio, that’s if you have a portfolio. The US dollar cannot rebound, the private bank called the Federal Reserve continues to print money hoping to get out of this financial mess; it will not work. This leads to inflation due to the abundance of cash out in the public, thus they promise to keep interest rate low, not Main Street’s interest rate but rates that apply to financial services and products directed at the Wall Street posse.

Okay, you are wondering why the Swiss franc will not suffer the same fate as the rest of the world? Switzerland is a tax and money haven for the rich, the super rich or the uber rich. So much so, that Swiss Central Bank is thinking about restricting the amount of Swiss Francs you can buy as a foreigner. Everyone is running to the Swiss Franc and precious metals, so the Swiss Central Bank is protecting their people and their economy. They have a steady economy due to the investment in their people and infrastructure.

On the other hand, one of the reason for the dollar not rebounding is, we do not make anything anymore. We do not produce anything, so our trade balance will always be negative. We import everything you see on your shelf in your local stores. We have morphed into a consumer/service economy and we have no money to pay for these services or products. A consumer driven economy was the ultimate goal since the introduction of credit cards in the 50’s. Then the extension of credit to minority families in the 90’s to buy houses which led to the Subprime Loan debacle. The rich will always be okay but the poor and the little that’s left of the middle class will suffer the most. And this is not a particular race, this is everyone that falls into these categories.

Please do not look to your politicians for help, they are all bought and paid for by Wall Street bankers. The exception to the rule is Sen. Sanders, Sen. Kucinich and Sen. Paul. All other politicians are in the pockets of Wall Street, even our dear beloved Obama. Democrat or Republican, they are all in the pockets of the oligarchs.
Deano

Efforts by the Swiss National Bank to rein in demand for the franc are “like pushing on a piece of string”, say analysts of the bank’s increasingly urgent measures to fend off investors seeking a haven from the financial storm.

If the market continues to ignore the bank, they say, it might resort to imposing penalty rates on non-residents’ franc deposits for the first time since the 1970s.

Fears over eurozone and US sovereign debt and worries over global growth continue to stoke haven demand for the currency.

Over the past month the franc has risen nearly 14 per cent to record highs against the euro and the dollar. At one point on Tuesday it was up 6 per cent in a single trading session, its largest daily rise in 30 years.

Philipp Hildebrand, SNB president, has warned that “at some point, an overvaluation becomes absurd” and that the central bank “won’t tolerate” further franc gains.

However, last week the SNB’s initial attempts to weaken the franc met with failure. The bank tripled the amount of cash in the financial system by increasing short-term “sight” deposits – cash withdrawable on demand – for banks from SFr30bn to SFr80bn and cut interest rates to effectively zero, but still the franc advanced, threatening to choke Swiss economic growth and exports.

On Wednesday, faced with a fresh surge in the franc, the SNB tried again, adding that it would conduct foreign exchange swaps – effectively pledging to print unlimited amounts of Swiss francs to meet any escalation in demand. Although the franc retreated from its highs, the action failed to weaken the currency substantially.

Analysts say the lack of response reflects the fact that the SNB has not yet entered the market and sold Swiss francs directly. This position is in contrast to the Bank of Japan, which last week sold some Y4,000bn to weaken the yen. Like the franc, the yen has been driven to record levels as investors sought refuge from the financial turmoil.

Many believe that the SNB is reluctant to sell francs given the domestic criticism it faced following its failed and expensive intervention campaign in 2009 and 2010, during which the bank racked up a balance sheet loss of SFr21bn.

“It is telling that the SNB has, so far, not come out and sold Swiss francs directly in the market,” says Simon Smith, chief economist at FxPro. “The last round of intervention led to substantial losses on its balance sheet, which have been exacerbated this year by the franc’s continual rise.”

Some analysts say the SNB is impotent, given that the main source of demand for the franc is out of its control.

“The Swiss authorities have bravely attempted to fend off Swiss strength by announcing further liquidity measures. However, with liquidity already ample in Switzerland, the Swiss authorities could be doing little more than pushing on a string,” says Jane Foley, foreign exchange strategist at Rabobank.

“The outlook for the Swiss franc lies largely in the hands of the eurozone politicians, rather than the Swiss authorities.”

Valentin Marinov, strategist at Citigroup, says because Swiss franc strength is mainly driven by investors’ desire for alternatives to the euro and the dollar, that makes triggering a downward trend difficult. He says the SNB’s decision to conduct foreign exchange swap transactions could deter speculators from betting on more gains in the currency.

The effect of foreign exchange swaps could be augmented by the imposition of penalty, negative interest rates on Swiss franc deposits held by non-residents, Mr Marinov says – although many are sceptical about the effectiveness of even such measures.

The levy was repeatedly used to stem the flow of foreign capital into Switzerland in the 1970s as investors sought refuge from stagflation. Those attempts to weaken the franc largely failed and it remained attractive, given the restrictive monetary policy of the SNB then.

“The latest massive easing of Swiss monetary policy conditions could therefore provide an important precondition for the successful implementation of penalty rates,” says Mr Marinov.

Via: FT.com
Copyright The Financial Times Limited 2011.

Jennifer Lopez Gives Vanity Fair Her First Interview Since Announcing Her Divorce from Marc Anthony

“That was my biggest dream, and I really worked hard at it. We both did,” Jennifer Lopez tells Vanity Fair in her first interview since announcing that she and Marc Anthony are divorcing. “Sometimes it doesn’t work—and that’s sad. But I remain an eternal optimist about love. I believe in love,” Lopez says. “It’s still my biggest dream. I am positive—determined to move forward with my life, bring up my babies, and do the best job I can as a mother, entertainer, and person. I now look forward to new challenges. I feel strong.”

Lopez opens up to contributing editor Lisa Robinson about her life with Anthony and the example she hopes to set for her children; she talks about her relationship with P. Diddy and breaking off her engagement to Ben Affleck; she’s honest about the diva rumors that surround her, and shares her attitudes toward money, fame, and especially love.

“I’m a hopeless romantic and passionate person when it comes to love,” Lopez explains, describing the passage that has brought her to her current state of mind.

“It’s not that I didn’t love myself before. Sometimes we don’t realize that we are compromising ourselves. To understand that a person is not good for you, or that that person is not treating you in the right way, or that he is not doing the right thing for himself—if I stay, then I am not doing the right thing for me. I love myself enough to walk away from that now.”

“I will always respect Marc as a singer and performer,” Lopez tellsVanity Fair. “We actually work great together, and he was always very supportive. Together we could make magic—and we did. He will always be in our lives. He will always hold a special place in my heart as the father of my children.”

The September issue of Vanity Fair hits newsstands in New York and L.A. on Wednesday, August 3 and nationally and on the iPad on Tuesday, August 9. Visit Vanityfair.com for more. 

 

:: JR§