Here’s a letter to the New York Times Magazine‘s “ethicist,” which was published over the summer:
My wife is having an affair with a government executive. His role is to manage a project whose progress is seen worldwide as a demonstration of American leadership. (This might seem hyperbolic, but it is not an exaggeration.) I have met with him on several occasions, and he has been gracious. (I doubt if he is [...]
October 29, 2012
On Monday, the US Supreme Court will hear arguments in a case that pits a major textbook publisher against Supap Kirtsaeng, a student-entrepreneur who built a small business importing and selling textbooks.
Like many Supreme Court cases, though, there’s more than meets the eye. It’s not merely a question of whether the Thai-born Kirtsaeng will have to cough up his profits as a copyright infringer; the case is [...]
America is quickly approaching a catastrophic economic collapse. Before you dismiss this as hype or paranoia, take a few minutes to review the facts outlined on this page. The numbers don’t lie. At this point, the dollar crash is unavoidable… far from an exaggeration this is a mathematical certainty. As repelling as that sounds, it’s in your own best interest to learn just how bad the situation is.
According to the [...]
Sir Chris Hoy had earned himself an extra medal before he’d even pulled the first super-strength Lycra over those elephantine thighs last night.
The elder statesman of British cycling has been a key adviser in the design of London’s Olympic Velodrome.
Yesterday, it made a sensational Games debut, with Sir Chris at the heart of it all. And it is no exaggeration to say that this venue is one of the most [...]
Using the word “disaster” is not an over-exaggeration to describe the drought in the Midwest, says Scott Shellady, the commodities trader who sports the famous cow-print jacket at the Chicago Board of Trade.
A heatwave and a severe drought have devastated U.S. farmland causing corn and soybean crops to wilt and that means we could likely see the impact in prices at the dinner table.
In the short term, Shellady predicts that we could [...]
Independent review of terrorism legislation points to government exaggeration of threat for political gain
June 29, 2012
An independent review of terrorism legislation in the UK notes that government rhetoric regarding terrorism is “exaggerated for political or commercial purposes” and that many more people are killed each year by bee stings.
The report by barrister David Anderson QC, highlights the fact that the average number of annual deaths as a result of terrorism [...]
Peter Spiegel of the FT has a must-read piece on the urgency of the current EU Summit, which includes this key insight…
Although Italy does not have Spain’s banks, Greece’s economy, or Ireland’s deficits, it is easy to forget how close to the edge Rome reached last summer under the erratic leadership of Silvio Berlusconi. It may not be an exaggeration to say that Mr Monti has about a month to ensure it does not [...]
Taking advantage of Egypt’s political upheaval, thieves have gone on a treasure hunt with a spree of illegal digging, preying on the country’s ancient pharaonic heritage.
Illegal digs near ancient temples and in isolated desert sites have swelled a staggering 100-fold over the past 16 months since a popular uprising toppled Hosni Mubarak’s 29-year regime and security fell apart in many areas as police simply stopped doing their jobs. The pillaging [...]
After yesterday’s big 6%+ down day, Greek stocks are off another 2.5% today.
Greek banks are getting creamed worse.
Without too much exaggeration, we’d say that Greece is trading like it’s going to zero.
After the conservatives failed to form a government yesterday, it looks very much like there will be new elections in a few weeks, and it’s likely that the hand of the anti-austerity/anti-bailout faction will be strengthened even more.
Athens Stock [...]
Rupert Murdoch has admitted to the Leveson inquiry there was a “cover-up” at News International over the phone-hacking scandal.
Murdoch, the News Corp chairman and chief executive, giving his second day of evidence to the inquiry in London, said he was “misinformed and shielded” from what was going on at the News of the World, adding that there was a “cover-up”.
Robert Jay QC, counsel to the inquiry, said there had been a [...]
Open letter to the Romneys:
For the vast majority of Americans, the struggle to survive financially is the centerpiece of our lives. It takes up the vast majority of our days over the vast majority of our lives. We spend much, much more time toiling for our paycheck than we do anything else in our lives. It is truly not an exaggeration to say that it absolutely consumes us. There is [...]
April 19, 2012
Nancy Pelosi wants to amend the First Amendment. She thinks corporations have too much speech and she wants to limit it.
When Pelosi says “special interests,” she means the interests of those opposed to establishment Democrats. Clear Channel is a corporation. So is Fox News. There are thousands of websites, newspapers, think tanks and political action committees that Pelosi and the Democrats consider corporations.
In Citizens v. Federal Election Commission, [...]
ALL OF US can breathe easy now: policy makers and analysts finally agree on how to fix Europe’s problems.
“Europe Debt Crisis Plan Hinges on Economic Growth,” declared the Los Angeles Times in October, after finance ministers announced what felt like the hundredth plan to seriously, no-foolin’-this-time, really rescue the European Union’s illiquid and insolvent states.
“Countries have to undergo significant structural reforms that would revamp growth,” said Mario Draghi, the head [...]
ECRI’s Lakshman Achuthan sticks with his recession call. This time his call is based on coincident indicators as the following video shows.
CNBC has an interesting feature where you can click on any snip of generated text and it will take you to that spot in the interview. However, do it a couple times and it hangs.
Here is the link to a complete transcript if interested: ECRI Sticks With Recession Call
More than [...]
by Simone Foxman
Analysts have been buzzing lately over whether or not a Greek debt restructuring would characterize a credit event and ultimately trigger credit default swap (CDS) contracts.
EU leaders have pushed the idea of a voluntary default that would not trigger the CDS. Most financial analysts have been pretty set against this, arguing that a high-handed move by EU leaders would destroy the massive industry of CDS—one of the only direct [...]
When Ronald Reagan said that big government undermined the economy, some people dismissed his comments because of his philosophical belief in liberty.
And when I discuss my work on the economic impact of government spending, I often get the same reaction.
This is why it’s important that a growing number of establishment outfits are slowly but surely coming around to the same point of view.
The European Central Bank published a study showing [...]
Do you suppose cows have any idea what’s coming as they’re marched down the chute? Or do they stare with bovine indifference at the tail and hind quarters in front of them, until they’re suddenly – and very briefly – startled by the man with the nail gun?
Perhaps Americans will – likewise too late – ask themselves what happened in the very near future. Perhaps just after the midnight [...]
With gold trading at $1,700 and silver near $33, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. When asked about the recnt action in gold, Leeb responded, “I think gold coming down yesterday and being somewhat off its high has nothing to do with the underlying fundamentals for gold. In fact it is not an exaggeration to say the [...]
Here is an interesting read discussing the definitiion of “poor” in America:
What is Poverty In the US Today?
For decades, the U.S. Census Bureau has reported that over 30 million Americans were living in “poverty,” but the bureau’s definition of poverty differs widely from that held by most Americans. In fact, other government surveys show that most of the persons whom the government [...]
Allegations of racist threats and mob-style intimidation in a West Bluff neighborhood Friday captured national attention over the weekend, but some say the claims were exaggerated.
A group of 50 or so young people was walking down Thrush Avenue toward Sheridan Road about 10:50 p.m. Friday, concerning some residents.
Paul Wilkinson, who has lived on Sheridan for 11 years, says the group was blocking four lanes of [...]
The father of two of the children playing inside a bounce house that blew into the air in New York this weekend recalled the event with horror today on “Good Morning America.”
“It was terrifying,” parent Richard Dowd said.
Thirteen adults and children were injured when strong winds lifted three bounce houses — with children playing inside — into the air and tumbled them along the ground at [...]
John Noyce is back with his bag of charty goodness in his latest “Charts that matter.” While the whole presentation is provided for our readers’ perusal, the three charts of note are those of the EURUSD (where we observe a potentially bearish Triple Divergence), the DAX, which is an important leading indicator of risk, the USDJPY where following last week’s fireworks, things appear to [...]
byÂ Andrew Costello inÂ Society
Youâ€™re about to lose your retirement savings. Did you know?
Over the last decade, I have watched in despair as more and more of our freedoms and liberties have been eroded.
Iâ€™ve watched sadly, as our country has gone to war for corporate profit, not once, but twice.
And I have felt helpless as organized crime groups like JP Morgan and Goldman Sachs rape the country of itâ€™s wealth. Giving out [...]
The man was 26-year-old Mohamed Bouazizi, the struggling Tunisian street vendor who committed suicideâ€¦setting himself afireâ€¦after his produce was confiscated by authorities because he had no permit. An unemployed graduate student, he was selling olives and oranges to support his family of eight and had been humiliatedÂ when he thenÂ went to ask for a permit andÂ was denied.Â With cell phones and rocks, Tunisians took [...]
Presumably outright lies (and being caught) are the last bastion before even such ultra low price point retailers are finally forced to hike their prices. Bloomberg explains further: “Authorities in cities including Shanghai, Chongqing, and Kunming discovered incidents at local Wal-Mart and Carrefour outlets that included labeling on products with prices that didnâ€™t match what shoppers were charged at payment, exaggeration of discounts [...]
MoodyÃ¢â‚¬â„¢s ratings agency says Hungary isnÃ¢â‚¬â„¢t Greece:
However HungaryÃ¢â‚¬â„¢s government spokesperson stands by earlier statements warning of economic collapse, says the comparison with Greece is not an exaggeration:
More and more countries where the majority of people will struggle to afford to buy an iPad, Ipad apps or pay for premium 3G ipad connectivity, then again they may be more concerned with keeping a roof above their heads and putting food on [...]
The day session was the big fizzle to the overnight fireworks. The overnight session was the largest advance in the globex, the largest range in history, since the advent of the futures market.
Additionally, It is very rare to see a day that has a globex range that far exceeds the day range. That is what happened with Sunday nightÃ¢â‚¬â„¢s gargantuan rally actually giving way somewhat in the day session. We [...]