Obama: Nobody is Listening to Your Telephone Calls
President Obama today defended the National Security Agency’s surveillance of Americans’ telephone and Internet records,
asserting that “nobody is listening to your telephone calls.”
Obama, who spoke during at event in San Jose, California, said security officials “are not looking at people’s names,
and they’re not looking at content,” but rather at phone numbers and the duration and frequency of calls.
Read the rest here:
http://www.whitehousedossier.com/2013/06/07/obama-listening-telephone-calls/?utm_source=WhiteHouseDossier&utm_medium=twitter&utm_campaign=Feed:%20WhiteHouseDossier%20(White%20House%20Dossier)
The Biggest Security [...]
by Charles Hugh-Smith
The Devil is in the details.
The Devil, of course, always claims to be “doing God’s work.” Satan’s job, as it were, is to deceive, and if claiming to be “doing God’s work” deceives the credulous, then by golly, Satan will do so with the utmost sincerity.
If mixing in a bit of truth to a slurry of lies deceives the credulous, then Satan will happily mix up a batch of [...]
With the shadow (or blue) market for Argentina Pesos already devalued by an incredible 50%, it is little surprise that the population is bidding for any store of value. Demand for luxury cars is soaring (BMW sales up 30% in the last 20 months) and Bitcoin activity is often discussed as the population transfer increasingly worthless Pesos into a fungible “currency” or domestic CPI protection; but it is USD that are the most-cherished [...]
From Businessweek:
Just weeks after his re-election, President Barack Obama summoned about 20 senior administration officials to the White House’s Roosevelt Room for an hour-long meeting on the implementation of his health-care law.
Obama began by reminding his staff that the Affordable Care Act would be one of his major legacies and its execution among the highest priorities of his second term, according to a Democrat familiar with the gathering.
The session, which [...]
The Associated Press‏@AP2 min
BREAKING: Federal agency postpones all oil and gas lease auctions in California, citing budget problems. -SS
Federal agency postpones all oil and gas lease auctions in California, citing budget problems
http://news.yahoo.com/federal-agency-postpones-oil-gas-lease-auctions-california-205233947.html
http://www.businessweek.com/ap/2013-05-07/federal-agency-postpones-all-oil-and-gas-lease-auctions-in-california-citing-budget-problems
http://www.washingtonpost.com/business/federal-agency-postpones-all-oil-and-gas-lease-auctions-in-california-citing-budget-problems/2013/05/07/457728fe-b758-11e2-b568-6917f6ac6d9d_story.html
A court challenge by federal immigration agents seeking to block President Barack Obama’s deferred-deportation initiative will probably succeed, a judge said.
U.S. District Judge Reed O’Connor in Dallas today put off his own decision on whether to grant the request for a preliminary injunction by 10 U.S. Immigration and Customs agents. He asked both sides to file additional arguments no later than May 6.
Announced by Obama and Homeland Security Secretary Janet [...]
“Addtionally, both Yglesias and Yuval Rosenberg at the Fiscal Times write that absent economic activity might just be delayed, as in a storm — extra work to get through on Monday, a Red Sox doubleheader next time the Royals come to town. Bloomberg Businessweek conjectures that a lost day could cost Boston $333 million”
http://www.theatlanticcities.com/politics/2013/04/what-will-boston-lockdown-cost-city/5350/
Tokyo Electric Power Co. (9501)’s discovery of leaks in water storage pits at the wrecked Fukushima atomic station raises the risk the utility will be forced to dump radioactive water in the Pacific Ocean.
Leaks were found in three of seven pits in the past week, reducing the options for moving contaminated water from basements of reactor buildings. Water in the basements is from the months after the earthquake and tsunami [...]
Israel fires into Syria after Golan attack on troops
No comment on who is respnsible, syriayn army or rebels.
JERUSALEM (JTA) — The Israel Defense Forces fired a missile at a Syrian military post in response to fire on Israeli troops in the Golan Heights.
The missile fired Sunday destroyed the military post and reportedly injured two Syrian soldiers.
http://www.jta.org/news/article/2013/03/24/3122901/israel-fires-missile-at-syrian-military-post
Israel warned Syria on Sunday morning that the days of restraint in the face of cross-border [...]
Moody’s Investor Services said China’s local-government financing vehicles face greater risk of default, as regulators warn 20 percent of their loans are risky.
A rally in LGFV bonds may reverse, particularly should delinquencies emerge, Christine Kuo, a Moody’s analyst, wrote in an e-mailed response to questions on March 8. The average yield may rise to 7 percent by June from 6 percent now, according to Shenyin & Wanguo Securities Co., the [...]
Climate to Warm Beyond Levels Seen for 11,300 Years
http://www.climatecentral.org/news/climate-to-warm-beyond-levels-seen-for-at-least-11300-years-15701
Investors Seek Ways to Profit From Global Warming
Investing in climate change used to mean putting money into efforts to stop global warming. Morgan Stanley (MS), Goldman Sachs (GS), and other firms took stakes in wind farms and tidal-energy projects, and set up carbon-trading desks. The appeal of cleantech has dimmed as efforts to curb greenhouse gas emissions have faltered: Venture capital and private equity [...]
by Phoenix Capital Research
In the second half of 2012, the media, Federal Reserve, and various Governmental economic bean counters engaged in what we call Great Global Rigging of 2012 in an effort to make the US economy look better to help the Obama campaign re-election bid.
Now that the election is over, the ugly economic realities have begun to creep out from where they were swept under the rug. And while [...]
It hasn’t drawn much attention, but Facebook’s first annual earnings report contains an accounting gem: a multibillion-dollar tax deduction for the cost of executive stock options and share awards.
Even though Facebook (FB) reported $1.1 billion in pre-tax profits from U.S. operations in 2012, it will probablypay zero federal and state taxes—and even receive a federal tax refund of about $429 million—according to a Feb. 14 statement from Citizens for Tax Justice.
The tax-research [...]
Warning to all investors. Reread Buffett’s warning: “There will be another bubble leading to a huge recession … I guarantee it.” But worse, this time, global macroeconomic trends threaten no-growth recovery, a long bear market, and long-term austerity. Start planning now.
CNNMoney: Banks Are Shutting Down More Branches Than They Open
America’s banks closed more branches than they opened last year, the result of government regulation, consolidation and the digital revolution.
Some of [...]
Welcome to Capital Account. Economist Nouriel Roubini, also known as Dr. Doom, predicted another crisis in the US in his Financial Times op-ed, he warned readers “given the dysfunctional nature of the American political system, it won’t be long before there is another crisis. Two months, in fact.” This prediction should be no major revelation, since in two months Congress must deal with the debt ceiling and sequestration spending cuts. [...]
Planned layoffs at U.S. firms rose for the third month in a row in November, partly driven by the bankruptcy of Hostess Brands, a report showed on Thursday.
Employers announced 57,081 job cuts last month, the highest level since May and up nearly 20 percent from 47,724 in October, according to the report from consultants Challenger, Gray & Christmas, Inc.
November’s job cuts were also up 34.4 percent from the 42,474 seen [...]
From Bloomberg Businessweek:
Susan Drucker, lured by an excellent school system and diverse population, moved to Solon, Ohio, a suburb 18 miles from Cleveland, 20 years ago. “There’s diversity and collaboration,” says Drucker, a mother and now the town’s mayor. “On a personal level, that’s why my husband and I moved here.”
Indeed, these perks have drawn many of Solon’s 3,346 families with children. (Frozen-food fanatics might note it also happens to [...]
With President Barack Obama endorsing sweeping gun restrictions in the wake of the school shootings in Newtown, Connecticut, prices for handgun magazines are surging on EBay (EBAY) and semi-automatic rifles are sold out at many Wal-Mart Stores Inc. (WMT) locations.
Wal-Mart, the world’s largest retailer, said yesterday that it would continue to sell guns, including rifles like the one used at Newtown, where 26 people, most of them children, were killed [...]
Dec 16, 2012
China said it will seek a higher “quality and efficiency” of growth next year, signaling new leaders may accept a reduced pace of expansion in exchange for a more sustainable model.
There was no mention of seeking “relatively fast” growth, a policy in place since 2006, in a report yesterday by the state-run Xinhua News Agency after the annual central economic work conference in Beijing. Leaders vowed to target “sustained and healthy [...]
“Those jobs aren’t coming back.” That’s what Steve Jobssaid when President Obama asked him whether Apple would ever consider manufacturing its popular products in the U.S. But Jobs’ successor, Tim Cook, has other ideas. In interviews with Bloomberg Businessweek and NBC News, Cook has revealed that in 2013, Apple will invest $100 million in manufacturing computers in the U.S. ”I don’t think we have a responsibility to create a certain kind of job,” Cook told Bloomberg. “But I [...]
SAN FRANCISCO (AP) — Microsoft is trying to skewer Google as a lousy holiday shopping guide in its latest attempt to divert more traffic to its Bing search engine.
The attack starts Wednesday with a marketing campaign focused on a recent change in how Google runs the part of its search engine devoted to shopping results. The revisions require merchants to pay Google to have their products listed in the shopping [...]
Fourteen months after the largest loss from unauthorized trading in British history, UBS AG (UBSN) is accelerating a retreat from risk taking.
The actions of Kweku Adoboli, the 32-year-old former trader found guilty of fraud in a London court yesterday, hastened a strategic review that culminated in a decision to eliminate 10,000 jobs and dismantle portions of an investment bank UBS spent more than a decade building.
The $2.3 billion loss exposed [...]
Shadow Banking Grows to $67 Trillion Industry, Regulators Say
The shadow banking industry has grown to about $67 trillion, $6 trillion bigger than previously thought, leading global regulators to seek more oversight of financial transactions that fall outside traditional oversight.
The size of the shadow banking system, which includes the activities of money market funds, monoline insurers and off- balance sheet investment vehicles, “can create systemic risks” and “amplify market reactions [...]
Euro-area finance ministers may not make a decision on unlocking funds for Greece until late November as they await a full report on the country’s compliance with the terms of its bailout, a European Union official said.
Finance chiefs won’t make the call to release 31.5 billion euros ($40.1 billion) of aid for Greece that has been frozen since June when they meet in Brussels on Nov. 12, the official said [...]
President Francois Hollande will raise France’s main sales tax rates to finance a cut in payroll charges, throwing support behind businesses for the first time in a bid to counter a record trade deficit and revive growth.
By lifting the two highest value-added tax rates in 2014, Hollande is revisiting a policy he campaigned against in his successful bid to unseat predecessor Nicolas Sarkozy earlier this year.
Hollande is setting out his [...]
http://www.businessweek.com/ap/2012-11-02/romania-33-bankers-and-officia…
“Prosecutors on Friday detained 33 government officials and bankers on suspicion of money laundering and fraud that cost Romania €22 million ($28.5 million).
The detainees included three Economy Ministry officials, the deputy chairman of the French-owned Romanian Development Bank, and the chairman of a state fund that offers banks guarantees in exchange for business loans.
The officials have been suspended, pending an inquiry, and prosecutors have asked the Bucharest Court to rule [...]
 Death of ‘Growth Economics’ spells danger
By Paul B. Farrell, MarketWatch
“Is the U.S. Condemned by History to Slow Growth?” asks Bloomberg BusinessWeek. Yes. But for traders and investors, it’s far worse than just bearish slow growth. Plan for no growth or zero growth.
Why? Wall Street, America and the world economy are in the early stages of a long era of “de-growth,” a reversal of economic growth and reduction in [...]
US Economy Shocked by Combined Disasters
Hurricane Sandy: NE Coast Shuts Down Mandatory Evacs.
Zone A – fire island Ny
http://www.usatoday.com/story/weather/2012/10/28/hurricane-sandy-frankenstorm/1663341/
NYC Evacuations Begin Over Hurricane Sandy; Public Schools Closed
http://www.huffingtonpost.com/2012/10/28/nyc-evacuations-hurricane-sandy-public-schools-closed_n_2034613.html
also….see here
http://www.chron.com/news/article/Shore-towns-issue-voluntary-evac-orders-for-Sandy-3983699.php
New Jersey was set to close its casinos this weekend
http://abclocal.go.com/kabc/story?section=weather/forecast&id=8862499
Sandy Churns North, Officials Order Mass Transit Shutdown, Evacuations
http://www.nbcnewyork.com/news/local/Hurricane-Sandy-NYC-Track-Sandy-Path-NJ-Flooding-Forecast-Long-Island-176158781.html
Hurricane Sandy prompts evacuations in N.J., Delaware
http://www.pennlive.com/midstate/index.ssf/2012/10/hurricane_sandy_prompts_evacua.html
Christie Orders N.J.’s Islands, Casinos Evacuated
http://www.businessweek.com/news/2012-10-27/christie-orders-new-jersey-s-islands-casinos-evacuated
…
CT Gov. Closes All State Highways: ‘This Is Most Catastrophic Event We Have Faced In Any Of [...]
Hurricane Sandy: NE Coast Shuts Down Mandatory Evacs.
Zone A – fire island Ny
http://www.usatoday.com/story/weather/2012/10/28/hurricane-sandy-frankenstorm/1663341/
NYC Evacuations Begin Over Hurricane Sandy; Public Schools Closed
http://www.huffingtonpost.com/2012/10/28/nyc-evacuations-hurricane-sandy-public-schools-closed_n_2034613.html
also….see here
http://www.chron.com/news/article/Shore-towns-issue-voluntary-evac-orders-for-Sandy-3983699.php
New Jersey was set to close its casinos this weekend
http://abclocal.go.com/kabc/story?section=weather/forecast&id=8862499
Sandy Churns North, Officials Order Mass Transit Shutdown, Evacuations
http://www.nbcnewyork.com/news/local/Hurricane-Sandy-NYC-Track-Sandy-Path-NJ-Flooding-Forecast-Long-Island-176158781.html
Hurricane Sandy prompts evacuations in N.J., Delaware
http://www.pennlive.com/midstate/index.ssf/2012/10/hurricane_sandy_prompts_evacua.html
Christie Orders N.J.’s Islands, Casinos Evacuated
http://www.businessweek.com/news/2012-10-27/christie-orders-new-jersey-s-islands-casinos-evacuated
Gov. Christie announces mandatory evacuations for N.J
http://www.usatoday.com/media/cinematic/video/1662707/gov-christie-announces-mandatory-evacuations-for-nj/
filthadelphia opening centers; New Jersey orders evacuations
http://www.philly.com/philly/news/breaking/20121027_Huge_and_powerful_Sandy_heading_for_New_Jersey.html
Residents in Delaware told to leave
http://www.newser.com/story/156586/states-order-evacuations-as-sandy-closes-in.html
Mandatory evacuations ordered Sunday in [...]
A drug made from a plant known as “thunder god vine,” or lei gong teng, that has been used in traditional Chinese medicine, wiped out pancreatic tumors in mice, researchers said, and may soon be tested in humans.
Mice treated with the compound showed no signs of tumors after 40 days or after discontinuing the treatment, according to researchers at the University of Minnesota’s Masonic Cancer Center. The research, funded by [...]
ATLANTA (CBS Atlanta) – A new study from the Centers for Disease Control and Prevention found that drunk driving among U.S. teens declined over the past two decades due to new laws and higher gas prices.
The report suggests that as a result of higher gas prices, teens spend less time behind the wheel of a car.
According to the study, 22 percent of high school students admitted to driving after drinking in 1991, [...]
Mario Draghi’s plan to save the euro is about to get a test run. Spanish Prime Minister Mariano Rajoy appears ready to accept—perhaps not immediately, but soon—the European Central Bank president’s offer of a deal, in which the bank would buy up Spanish government debt in exchange for promised austerity and economic reforms. Investors seem persuaded that a bailout is at hand: The returns they’re demanding on Spanish bonds have [...]
Russia, the 3rd biggest wheat exporter last yr, harvested 66.4 million tons of grains as of Sept. 28, compared with 86.5 million tons a year earlier
http://www.businessweek.com/news/201…4-million-tons
Russia Grain Harvest Declines 23% to 66.4 Million Tons
By Yuliya Fedorinova on October 02, 2012
(Corrects state grain plans in last paragraph.)
Russia, the third-biggest wheat exporter last season, harvested 66.4 million metric tons of grains as of Sept. 28, compared with 86.5 million tons a year [...]
China’s stocks rose the most in almost three weeks on speculation the government will accelerate measures to bolster the equities market after the Shanghai Composite Index (SHCOMP) fell below the 2,000 level yesterday.
Beijing Toread Outdoor Products Co. paced an advance for companies on the smallcap ChiNext index after the China Securities Journal reported major stockholders offered to extend the period for when they must hold their shares to avoid oversupply. [...]
Paul B. Farrell
September 20th, 2012
MarketWatch
“2013 is gonna be a bummer,” warns Bloomberg BusinessWeek. “Whether it’s Barack Obama or Mitt Romney … someone will have the misfortune of overseeing an economy” with “low growth, persistently high unemployment and huge amounts of debt.”
Worse, the magazine’s poll of 79 economists warns GDP growth will fall further, to 2.1%, with a real “chance the U.S. will be in recession.”
Barack Obama, Mitt [...]
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The Les Miserables State and the Trillion Dollar Treasury Coin: Stop the Presses!!
Welcome to Capital Account. Economist Nouriel Roubini, also known as Dr. Doom, predicted another crisis in the US in his Financial Times op-ed, he warned readers “given the dysfunctional nature of the American political system, it won’t be long before there is another crisis. Two months, in fact.” This prediction should be no major revelation, since in two months Congress must deal with the debt ceiling and sequestration spending cuts. [...]