Thursday, February 03, 2011

It's Called "Capital Flight"

This one, with such a small mention in the Pioneer Press, almost slipped past the radar.

Of course, this is good that BP is shutting down it's refining capacity here (good luck finding a buyer). Because BP is an evil oil company and we don't want any of those jobs here in the US.


Anonymous said...

I think more postings on capital flight, would be a good idea. This will also eventually lead to capital/currency controls in the not too distant future. The existing banking money laundering laws in the US, can instantly be turned into currency control laws. Banks already act as reporting agents to the federal government. I believe most Americans have no idea, what a violation of freedoms, the current banking reporting laws are doing to every US citizen.
Capital flight eventually leads to capital controls. Beware of this event happening in the USA.

CBMTTek said...

I so wanted to post a rant about how corporate taxes should be raised to pay off the national debt, but could not get through it without gagging.

Is it any wonder unemployment is on the way up again? Raise taxes on businesses, and funny thing, they do not hire people.

Anonymous said...

Pfizer will be shedding over 1,000 jobs in CT over the next year. Probably has nothing to do with increases in, among other things, unemployment taxes because the State has been borrowing from the feds. Apparently the $40 per employee is only going to cover interest on the loan. I'm doomed.

Anonymous said...

BP already got out of the retailing business when they closed down all of the corporate owned stations, because the refining business was more profitable.

Now they're selling off US refineries because they can make more money in more profitable emerging markets.

Hopefully some company will buy and operate them otherwise we're pretty much screwed from a gasoline supply/demand side.

Eric said...

It amazes that people don't get how increasing a company's expenses ultimately screws consumers or employees. I've heard repeatedly about how "If something is profitable before , it'll still be profitable afterward." Yes, but not as profitable, and businesses do not stay in existence by taking hits to their profits. They make that up somehow, either by reducing other expenses (typically reducing pay, head count, or both), or raising prices. Perhaps we should just move all taxes directly to individuals if for no other reason than to have an honest representation of how much we're paying.