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Romney Brings Out the Debt Clock(0)

Mitt Romney continued to drive a debt-oriented message here on Wednesday morning, extending his “prairie fire” of debt metaphor with the assistance of a prop.

In a nod to the independent voters who pushed the Sunshine State into the Democratic column in 2008, Romney noted that both parties were responsible for pushing the debt to the “incomprehensible” levels – which were represented on a giant prop debt clock behind him.

CONTINUED at MSNBC.

Finally, Because Standing Sucks: The Horizontal Shower(0)

This is the Horizontal Shower from luxury bathroomer Dornbracht. You just lay on the stone pedestal like you’re about to be sacrificed for a plentiful harvest, then let the six water jets soak your body, flooding your ass with cleanliness and washing away any rogue buttcrumbs like paper boats in a stream. Holy shit I should start writing product descriptions.

The shower comes with a controller they call the eTool, which lets you direct the flow from the various jets, and choose between various programmed patterns kind of like a massage bath. You can also use the eTool to regulate the water temperature and intensity.

Or you could, you know, lay down in a regular shower like I do. Sure it’s not as glamorous and way more soap-scummy, but so what? IT’S CHEAP. Plus if you plug the drain with a toe and let the bath fill up your penis will float. Medical fact!

Source: Geekologie.

Bank Run Fears Hit EU(0)

Spain tumbled into recession and European stock markets and the euro fell Thursday as Greece installed a crisis government to tackle its crippling debt, EU leaders prepared for talks and analysts raised the spectre of a run on eurozone banks.

“Markets are worried about eurozone bank deposit runs and an escalating banking crisis,” London-based VTB Capital economist Neil MacKinnon told AFP.

Heavy withdrawals of deposits have been reported in Greece and Spain, and top European Union leaders were to hold a videoconference.

They were initially to discuss an upcoming G8 meeting of industrialised countries but were now faced with a serious deterioration of the situations in Greece and elsewhere across the eurozone.

A caretaker government took office in Athens on Thursday to organise its second election in six weeks after an inconclusive May 6 vote as fears over its possible euro exit rocked Spain and Italy.

The election left Greece in limbo and the new poll on June 17 offers no guarantee of a viable government able to implement an EU-IMF bailout which has divided the country.

The International Monetary Fund announced Thursday that it would hold off on official contacts with Greece until after the June 17 elections.

CONTINUED at Yahoo News.

No Escape: Democrats Want 30% Tax on Those Who Denounce Citizenship(0)

Sen. Chuck Schumer, D-N.Y., has a status update for Facebook co-founderEduardo Saverin: Stop attempting to dodge your taxes by renouncing your U.S. citizenship or never come to back to the U.S. again.

In September 2011, Saverin relinquished his U.S. citizenship before the company announced its planned initial public offering of stock, which will debut this week. The move was likely a financial one, as he owns an estimated 4 percent of Facebook and stands to make $4 billion when the company goes public. Saverin would reap the benefit of tax savings by becoming a permanent resident of Singapore, which levies no capital gains taxes.

At a news conference this morning, Sens. Schumer and Bob Casey, D-Pa., will unveil the “Ex-PATRIOT” – “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy” – Act to respond directly to Saverin’s move, which they dub a “scheme” that would “help him duck up to $67 million in taxes.”

The senators will call Saverin’s move an “outrage” and will outline their plan to re-impose taxes on expatriates like Saverin even after they flee the United States and take up residence in a foreign country. Their proposal would also impose a mandatory 30 percent tax on the capital gains of anybody who renounces their U.S. citizenship.

The plan would bar individuals like Saverin from ever reentering the United States again.

“Eduardo recently found it more practical to become a resident of Singapore since he plans to live there for an indefinite period of time,” Tom Goodman, Saverin’s spokesman, told Bloomberg News in an email.

Last year 1,700 people renounced their U.S. citizenship.

Source: ABC News.

Smell Like A Bar, DOWN THERE: Whiskey Flavored Lube(0)

This is an actual whiskey flavored lube from the gluttons over at Epic Meal Time. Apparently they’re convinced whiskey is a desirable smell to have smeared all over your privates. SPOILER: It’s not. Unless you’re in a relationship with another manly dude (I’m thinking a gay biker/bear type here), chances are your lover doesn’t want your junk smelling like f***ing whiskey. Piña colada, absolutely, but only because piña colada is the best smell in the world, especially for car air fresheners.

Source: Geekologie.

Failing Federal Government Gave Out $430 Million in Bonuses(0)

The federal government paid at least $439 million in employee bonuses last year, down $43 million since new austerity restrictions were announced.

The largest merit awards went to senior executives in Washington and air traffic controllers, an Asbury Park Press investigation found. The highest award, $62,895, went to 16 employees from agriculture to NASA.

The $439 million in bonuses may be a staggering amount — enough to buy the former New Jersey Nets, valued at about $357 million by Forbes magazine — but it represents just 0.4 percent of the $105 billion in salaries for most of the government’s civilian employees. In 2010, at least $482 million was paid in bonuses, according to federal data.

CONTINUED at the Asbury Park Press.

CNN Hits 15 Year Low(0)

Last night was a typical, boring Tuesday, with little earth-shattering news to drive TV viewers to cable news. It was also May sweeps, with the season finale of “NCIS: LA,” “America’s Got Talent” on NBC and “Dancing With the Stars” on ABC drawing an astonishing 39 million viewers between them at 9 PM.

Unfortunately for CNN, “Piers Morgan Tonight” was the apparent victim of the busy night, drawing only 39,000 viewers 25-54 at 9 PM. To say those ratings are anomalous would be something of an understatement. That is the lowest 9 PM weekday demo rating for CNN since at least 1997. While the ratings were an outlier, it was a fairly normal edition of “PMT,” with Morgan hosting. Guests included Jane Lynch and “The man with the golden voice” Ted Williams.

“PMT” drew 284,000 total viewers, which was down from a typical weekday, but not a record-breaking low.

“PMT”s lead-in and lead-out, “AC360,” drew around 90,000 demo viewers at both 8 and 10 PM, also down from a typical weekday this year.

Source: TV Newser.

The Complete Master Plan to New Jersey’s Formula One Grand Prix(0)

A new leaked document reveals the exact layout and plans for the next Formula One circuit, the Grand Prix of America in New Jersey. The map explains some of the many challenges in bringing F1 to the New York metro area.

You can view the master plan in full here.

The track runs clockwise, starting along the Port Imperial Ferry Terminal on the Hudson in what will be the pit straight. The cars make a 90 degree left for Turn One, then quickly transition into the right-handed Turn Two. The cars then turn up to the great feature of the track: thePalisades.

The Hudson is banked on New Jersey by this massive rock formation — up past the George Washington Bridge, it forms a sheer cliff of exposed rock looking down on the river. Down at the track, it accounts for 150 feet of elevation change. Elevation change, traditionally, is what makes a track great and it has been seriously lacking from Formula One circuits built in the past fifteen years.

CONTINUED at Jalopnik. More photos at link.

Obama Worth $10 Million, Receives $1 Million from JPMorgan Chase (2 Stories)(0)

STORY 1: Obama worth as much as $10 million

Three things are apparent from President Obama’s annual financial disclosure statement, released today:

He is a wealthy man, with assets of as much as $10 million.

He has a hefty stake in JPMorgan Chase, the megabank that just made a bad $2 billion bet. Obama has an account worth between $500,000 and $1 million.

Despite the nation’s $15.6 trillion debt, he is a believer in government paper. More than half of his assets are in Treasury bills and notes.

The disclosure statement lists assets and liabilities in dollar ranges, so pinpointing the president’s net worth is difficult. His assets appear to tally between $2.6 million and $9.9 million. He holds a mortgage on his Chicago home of $500,000 to $1 million.

As was clear from Obama’s income tax filing, much of his income continues to roll in from book royalties. The disclosure form lists $100,000 to $1 million in royalties from Dreams From My Father, $100,000 to $1 million from Of Thee I Sing: A Letter to My Daughters, and $50,000 to $100,000 from The Audacity of Hope.

Vice President Biden, on the other hand, isn’t all that wealthy. His financial disclosure statement includes less than $1 million in assets — and as much as $1.5 million in liabilities, including between $500,000 and $1 million on his Wilmington home.

Source: USA Today.

STORY 2: Obama has up to $1 million with JPMorgan Chase

US President Barack Obama has up to $1 million in a JPMorgan Chase checking account, the White House said Tuesday as a controversy deepened over the bank’s $2 billion dollar losses.

Public figures in the United States are required by law to publish their assets and investments to avoid conflicts of interest, and the White House releases disclosures for Obama and Vice President Joe Biden each year.

As well as the between $500,000 and $1 million in the JPMorgan Chase Private Client Asset Management checking account, Obama also has millions of dollars in a variety of other accounts and funds, bonds and treasuries.

The largest holding, according to the disclosures, is between one and five million dollars in US Treasury notes.

Most of Obama’s wealth comes from book royalties, including from his best selling autobiography “Dreams From My Father.”

Obama said during a television interview with ABC’s “The View” broadcast Tuesday that the $2 billion in derivatives losses suffered by JPMorgan proved the need for tighter banking regulation.

He also said that JPMorgan chief Jamie Dimon was “one of the smartest bankers we got and they still lost money.”

“They still lost $2 billion dollars and counting precisely because they were making bets in these derivative markets. This is why we passed Wall Street reform.”

The US Justice Department has opened an FBI probe into JPMorgan Chase’s more than $2 billion trading loss, a person familiar with the matter told AFP Tuesday.

News of the investigation came as Dimon, JPMorgan’s embattled chief executive, faced criticism at the company’s annual shareholders meeting in Tampa, Florida, over the shock loss.

Source: Yahoo News.

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