From Economic Policy Journal:
Never trust anyone in Congress. Congressmen are all about aligning themselves with certain power centers, creating new power centers, but always about expanding government in one direction or another. That said, a congressman may, from time-to-time, find himself on the side of truth, as he tries to maneuver some power center.
Senator Jim DeMint has found himself on the side of truth when it comes to the online [...]
Sunday, July 15, 2012
Nawaf Fares, former Syrian Ambassador to Iraq who just recently defected and is now harbored in Qatar, admitted in an interview with the London Telegraph that he personally organized “Jihadi units” to fight US troops in Iraq. Fares maintains that he did so under orders by the Syrian government, and that a recent string of bombings in Syria were carried out by “Al Qaeda” in coordination with Syrian [...]
From Eric Peters:
If using insurance to pay for everything is such a marvelous idea, why not expand the concept? How come, for example, we tolerate paying for tire rotations and oil changes out of pocket?
Why not carry Car Maintenance Insurance (CMI) instead? Wouldn’t this make owning a car more affordable? More fair?
Is it not outrageous that so many millions of Americans aren’t covered?
I’ve asked people who defend Obamacare about this. [...]
11.04 Open Europe warns that Spanish house prices may drop another 35pc, and that the country’s banking sector could need an immediate €110bn capital injection to withstand potential losses. Perhaps it’s a good thing that Spain avoided putting an exact figure on their rescue request. Open Europe’s head of economic research, Raoul Ruparel, said:
Funding for the Spanish banking sector is an incredibly fluid target and could go well beyond [...]
Yesterday we noted the supreme absurdity of having the Fed buy 10 year Bonds two hours before the Treasury sold 10 year bonds (which obviously priced at terrific terms as there was a $4 billion hole created courtesy of the Fed if only for 2 hours). Today, the lunacy continues. The Fed has justbought $2 billion in 30 year bonds just two hours before the Treasury sells $13 billion in 30 year paper. The ponzi has become so glaring [...]
The absurdity of the Greek “bailout” setup is in the news once again. The New York Times reports Athens No Longer Sees Most of Its Bailout Aid
Greek banks have been shut off from regular ECB liquidity operations due to lack of sufficient collateral. Today the Banks have that collateral thanks to a disbursement of funds from the EFSF which in turn will be used as collateral for more loans from the [...]
Written by Jeff NielsonSaturday, 12 May 2012 12:38
If ever we needed proof of the saturation-level brainwashing to which the Western masses are now subjected (and to which they have succumbed), there is no clearer evidence than the U.S. Treasuries market.
The U.S. economy has never been Less-Solvent in its entire history, meaning that U.S. Treasuries have never been less valuable. The new supply of U.S. Treasuries grossly exceeds any level of paper the U.S. [...]
Published on Apr 11, 2012 by CapitalAccount
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Welcome to Capital Account. With debt troubles brewing in Spain, a European Central Banker is triggering talk of ECB intervention…again…So now people are speculating about another bond purchase program to lower Spain’s borrowing costs. Oh geez — how much more money will be conjured out of thin air and pumped into Europe’s cesspool to make things “look” stable?? We’ll talk about the cost [...]
Via Peter Tchir of TF Market Advisors,
The last hour has spewed forth more disingenuous clap-trap from European finance ministers. From ‘sufficiency of the firewall’ to the ‘absurdity of Spain needing a bailout’, it beggars belief that these humans can look at themselves in the mirror every morning (as they feel the ‘need’ to lie’ – or are simply ignorant of the reality).
European Sovereign Yields have been under pressure for most of [...]
The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole.
This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences.
The Arabs’ pursuit of freedom has unleashed some of the worst state violence that the Middle East has seen in recent times. Fortunately, though, Arabs are not losing their sense of humour.
From the slogans of Tahrir Square – “Please go, my hand is hurting” – to “Top Goon: Diaries of a Little Dictator”, an online show in which finger puppets impersonate Bashar al-Assad, protesters, even those under enormous stress, have taken solace [...]
Could Congress be persuaded to spend taxpayer money on a Museum of Government Waste?
That’s what filmmakers Ellen and Jim Hubbard of Nevada have been trying to figure out for the last five years.
The couple is releasing a film — set to come out this year — about their quest to obtain an earmark from Congress for a museum dedicated to wasteful government spending.
The point of the film and project, Ellen Hubbard said, [...]
A Statement from Rush
For over 20 years, I have illustrated the absurd with absurdity, three hours a day, five days a week. In this instance, I chose the wrong words in my analogy of the situation. I did not mean a personal attack on Ms. Fluke.
I think it is absolutely absurd that during these very serious political times, we are discussing personal sexual recreational activities before members of Congress. I [...]
With the US presidential race heating up, the candidates are increasingly prone to make sweeping promises. They say they will do this or that in their first day in office – balance the budget, close the prison at Guantánamo, abolish the Federal Reserve, whatever – and their supporters all cheer that one of their cherished goals will be achieved instantly if only their man gets to sit in the [...]
By Hanni Fakhoury, Electronic Frontier Foundation
On October 1, 2011, over 700 Occupy Wall Street protesters were arrested on the Brooklyn Bridge. Most of the protesters, including Malcolm Harris, were charged with the mundane crime of disorderly conduct, a “violation” under New York law that has a maximum punishment of 15 days in jail or a $250 fine.
And yet on the basis of a charge no more consequential than speeding ticket, the New York City District Attorney’s office [...]
Everybody is always remarking about how stuck our society feels these days. The music doesn’t change, the political parties are all exactly the same, and films and TV dramas are almost always set in the past.
We are also stuck with an economic system that is not delivering the paradise that it once promised – but is instead creating chaos and hardship. Yet no-one can imagine a better [...]
When banks have routinely filed falsified mortgage promissory notes, with tens of thousands of fraudulent documents filed in tens of thousands of cases – “rampant, self-evident, easy to prosecute” fraud - what does it take to get prosecutions? Barry Ritholtz: “It is shocking to watch the U.S… slip into a banana republic.”
“Why there hasn’t been more robust prosecution is a mystery.”
-Raymond Brescia, visiting professor, Yale Law School
Reuters has an outrageous article detailing the [...]
by Tim Price of Sovereign Man
The Best Thing Ever Written On Europe
“We think we have an agreement, but we are not sure what it is.”
- Negotiator at the Euro Zone “crisis summit” last month, as reported in The Economist.
“You don’t have to be paranoid to be terrified.”
If a ballistics expert were so poor at his job that his artillery routinely fired missiles into the sea or, worse still, at his own [...]
From Charles Hugh Smith:
Is there anything that hasn’t already been said about the eurozone’s structural flaws and the absurdity of the half-baked “solutions” tossed together by its frenzied, fumbling leadership? Perhaps not, but we can fruitfully boil the mess down to a simple double-bind.
The double-bind can be stated thusly:
1. If the European Central Bank (ECB) tries to save the private banks and bondholders by printing trillions of euros to buy [...]
Frustrated at “media circus” response overshadowing issue of government intrusion
October 27, 2011
The woman who was subjected to a humiliating experience at the hands of the TSA when a screener left a note commenting on a sex toy in her luggage, says she is disappointed with the response the incident has received.
As we reported earlier this week, not satisfied with fumbling through Americans’ private possessions, one TSA screener saw fit [...]
Well that was fun. The mere thought of a new Sino-Roman investment deal sparked a brief moment of giddiness Monday that the markets have not seen in weeks. Gone were the worries. The foibles forgotten. For 30 brief minutes, China was going to save the world via a shopping spree of Italian debt.
In hindsight, as is often the case, the absurdity of that “silver bullet” [...]
The most respected investor and capitalist on the planet, Warren Buffett, took to the pages of the New York Times this morning to bust a myth that has dominated political discourse in recent months:The idea that raising taxes on super-rich people would hurt the economy.
Buffett observes that his own personal taxes as a percent of his income have plummeted in the past decade, to all-time lows. He observes, [...]
At a press conference Wednesday, US President Barack Obama reiterated his determination to impose trillions of dollars of spending cuts on the elderly, the sick, school children and college students. He appealed to congressional Republicans to agree to a handful of minor tax increases on the wealthy to provide the fig leaf of what he called a “balanced” program of deficit reduction.
In his opening statement [...]
Of all the foreclosure warnings issued during the housing crisis, perhaps oddest is the one demanding no money at all.
Earlier this year, in Northampton, Massachusetts, a man, referred to in reports only as Mark, received a notice demanding that he pay $0.00 to his mortgage lender, Bank of America, or his home would be seized, according to local television network News 22 WWLP. The notice [...]
“I believe we no longer have free market capitalism and we no longer have a democracy,” says David Stockman, the blunt-talking former Michigan Congressman and Director of the OMB during the Reagan administration.
What now exists at the heart of the U.S. economy, Stockman argues, is “crony capitalism” – a system that benefits and even rigs the system in favor of America’s banks and bankers at [...]
Over the short term, who really knows what the Fed is going to do, or how capital is going to race around the world motivated by both fear and greed, or what natural disaster we will have to face next. But over the long term, we can be almost certain of what’s going to happen.
Economic growth is going to stop; in fact it will probably [...]