Washington deal on the debt limit was near. Wall street opens this morning after another strong run on friday. The dow closed at its high 111 points higher nasdaq 31 higher, s p 10 up. Gold continued its fall. Down 27 dollars for a weekly loss of more than 3 percent. Oil ended down around a dollar. Caused by the prediction that next year the United States will overtake russia as the worlds 2nd Largest Oil Producer behind the opec nations. The prediction comes from the International Energy agency. The 2 largest mortgage banks say Rising Interest Rates pushed 4th quarter loan originations to nearly half of what they were a year ago. Wells fargo and jp morgan say home loan applications have been on the downward slide for nearly 6 months. A lot of talk and a lot of hope over the weekend, but as of yet no clear breakthrough in terms of the Government Shutdown or what to do to resolve the debt ceiling crisis. Republicans have been backing down from their earlier demands for large concessions
Million into that abject failure. Now the question is whether sebelius will be forced out, or whether she will testify before congress. But the overriding point is that a highly centralized Government Health care just wont work. It is the opposite of free market policies that would if given a chance. And then, the governments 13 billion fine for jpmorgan a shutdown . And oh, by the way, is jamie dimon being punished for his outspoken antiregulatory reviews in his general criticism of obamanomics . All those stories and much more coming up on the kudlow report, beginning right now. Good evening. Im larry kudlow. This is the kudlow report. Were live here. Its 7 00 p. M. Eastern and 4 00 p. M. Pacific. Earlier today, what should have been a mea culpa sometimes sounded more like a pep rally as president obama acknowledged the catastrophic rollout of obama care. Take a listen. The product of the Affordable Care act for People Without Health Insurance is quality Health Insurance that is affo
The ipo has an initial registration of 100 million in the company is seeking to go public. Jp morgan, citigroup, and barclays are the lead underwriters. It makes wearable cameras that can be used during a variety of activities. To acquirein talks twitch. It allows video gamers to stream and watch their game play for about 1 billion. Wants president obama to curb surveillance techniques. His letter comes after new greenwalds from glenn accusing the nsa to hacking into a criminal before it is shipped to foreign customers. He said it would undermine confidence in the industry. You will join us live wednesday on bloomberg west. We have some breaking news to tell you about. Eric holder will be holding a press conference any minute now on the criminal charge filed against Credit Suisse and we will take you there will live. The service swiss bank has agreed to feel plead guilty to a tax charge. Conspiring to help american citizens invade income tax by using secret tax account. We talkingney a
That question doesnt come up. When you decide to send a b2 launching from the american midwest to be a show of force in south korea, nobody asked of it comes together. If you think about it, its pretty spectacular. Think about the intelligence, the refueling requirement. How does all this happen. Who is doing that . They are just in the background making things happen every single day. Theres a great tv commercial where the tagline is these guys are good. You have probably seen that. So are my guys. They are incredibly good. Luckily our Combatant Commanders know that so the demands for what the air force provides is on the rise. Unfortunately, the supplies are going in the of attraction. Thats a we are facing with the sequester level budgets were looking at in the future and decision we have to make. Every recommendation were making these days does hurt. Is taking capability capacity away from Combatant Commanders, things they believe they need and things would like to provide that whi
Caterpillar had been reporting most of the income from the sale of its Replacement Parts outside of the u. S. On its u. S. Tax return. Is that correct . That is correct. That is when it sold parts to caterpillars nonu. S. Dealers. Is that correct . Yes. 85 or more of its nonu. S. Income is included on caterpillars u. S. Tax return. Is that correct . That is correct. After caterpillar executed csarl transaction starting in 1999 is the correct that caterpillar basically reversed those percentages and allocated 15 or less of the nonu. S. Parts and come to itself in the United States and 85 or more to csarl in switzerland which had an effective tax rate between four and 6 . Is that correct . Thats correct. In terms of their arrangement that caterpillar had with respect to his relationship with caterpillar csarl that was in fact a business arrangement that included a license for more than just the parts activities themselves and included the entire Business Activities undertaken by caterpil