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Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter Much digital ink has been spilled about the oil and gas boom in the US, the result of ever improving fracking technologies, and whether or not it will lead to energy independence, or even turn the US into an oil exporter. Now a “confidential” report by the German version of the CIA, the Bundesnachrichtendienst (BND), seeped to the surface. It sketched out the boom’s geopolitical consequences. Biggest loser? China. BND reports [...] Thanks to fears over government regulations, there’s a massive $1.46 trillion treasure chest sitting idly at the Fed, excess reserves from skittish US banks. And it’s forecast to reach a startling $2.6 trillion in the next year.
This cash doesn’t do anything for the American economy, say leading analysts… < snip >
The banks see it as an asset to be accessed to meet government regulations such as recapitalization programs, toxic asset purchases and [...] Bill Clinton is a multimillionaire, but you’re paying for the Cinemax in his office. That’s just one eyebrow-raising expense a former occupant of the White House has been allowed to put on the taxpayer tab every year, even though every living ex-president is quite wealthy. In an attempt to shed light on this little-known perk of being a former commander in chief, The Daily Caller — through a Freedom of Information Act [...] They’re on the dole – and watching the pole. Welfare recipients took out cash at bars, liquor stores, X-rated video shops, hookah parlors and even strip clubs – where they presumably spent their taxpayer money on lap dances rather than diapers, a Post investigation found. A database of 200 million Electronic Benefit Transfer records from January 2011 to July 2012, obtained by The Post through a Freedom of Information request, showed welfare [...] from rollingstone: The federal rescue of Wall Street didn’t fix the economy – it created a permanent bailout state based on a Ponzi-like confidence scheme. And the worst may be yet to come It has been four long winters since the federal government, in the hulking, shaven-skulled, Alien Nation-esque form of then-Treasury Secretary Hank Paulson, committed $700 billion in taxpayer money to rescue Wall Street from its own chicanery and greed. To listen to [...] The above film clip is not a “behind the scenes” of the latest Dawn of the Dead straight-to-DVD ripoff. It is the actual footage of first responder seminar in San Diego, California. The Department of Homeland Security deemed the event an allowable expense, enabling participants to use federal grant funding to pay to go. That’s according to “Safety at Any Price: Assessing the Impact of Homeland Security Spending in U.S. Cities” [...] At least you guys are still keeping up with traditions! This year, the European Union decided not to get a real christmas tree. It might be “offensive” to people who aren’t christians. http://www.bbc.co.uk/news/world-europe-20302574 As Americans face a fiscal cliff, the Obamas make do with 54 Christmas trees Now safely ensconced in the White House for 49 more [...] Amazing how a reelection can reshape an incumbent’s thinking about many things. Now safely ensconced in the White House for 49 more months, the Obamas have decorated the place with 54 Christmas trees this year. Even allowing for the usual Washington excesses with taxpayer money, that’s a whole grove of Christmas trees. “We have 54 trees in the White House,” an excited Michelle Obama proudly told visitors the other day. “54! That’s [...] EBT cards are modern-day food stamps, except they’re electronic. In essence, they are government-issued debit cards that allow recipients to spend taxpayer money for their own groceries. But EBT cards aren’t merely good on food staples like beans and rice, they can be spent on processed junk food that promotes diabetes and obesity. That’s the “dirty little secret” of the EBT scheme: It encourages low-income Americans to become high-profit customers [...] Senator Tom Coburn released the Wastebook 2012 today detailing the 100 most egregious wastes of taxpayer money. The two hundred page report details waste in all manner of federal spending – from multi-billion dollar programs all the way down to a $300 grant to a small-town library for a Star Wars-themed event. It’s emblematic of the waste found everywhere in the federal budget. Coburn details a $27 million U.S. Agency for International Development [...] President Obama touted it in 2010 as evidence “manufacturing jobs are coming back to the United States,” but two years later, a Michigan hybrid battery plant built with $150 million in taxpayer funds is putting workers on furlough before a single battery has been produced. Workers at the Compact Power manufacturing facilities in Holland, Mich., run by LG Chem, have been placed on rotating furloughs, working only three weeks per month [...] (CNSNews.com) – The U.S. Department of Agriculture says it spent $55 million in fiscal 2012 to support 748 “specialty crops” across the country – benefiting everything from fruit and nuts in California to an “interactive wine trail” in Massachusetts to the promotion of Michigan-grown Christmas trees and poinsettias.
Agriculture Secretary Tom Vilsack lamented that such support programs will not be funded in the fiscal year that began Oct. 1 unless Congress passes the [...] Its budget and facilities already stretched thin, the Veterans Affairs Department wasted money on two summertime training conference to the vacation hot spot of Orlando, Fla., that cost taxpayers more than $6 million and let federal employees collect freebie gifts like meals, helicopter tours, limo rides, massages and show tickets from contractors, an internal investigation has found. The VA’s inspector general concluded top agency officials failed to be good stewards of [...] Cassandra Anderson Geo-engineering is an umbrella term for deliberate climate intervention that includes spraying the sky with aerosols to reflect solar radiation away from Earth in order to cool the planet and to save the environment and humanity from the effects of supposedly man-made global warming. There is evidence that this program has already been implemented for many years using unidentified chemical aerosols, known as chemtrails. A geo-engineering/ chemtrails experiment [...] President Obama is proud of his bailout of General Motors. That’s good, because, if he wins a second term, he is probably going to have to bail GM out again. The company is once again losing market share, and it seems unable to develop products that are truly competitive in the U.S. market. Right now, the federal government owns 500,000,000 shares of GM, or about 26% of the company. It would [...] Latest move represents huge transfer of wealth from the middle class to the elite Alex Jones & Paul Joseph Watson While Ben Bernanke’s announcement that the Federal Reserve will embark on an open ended scheme to purchase $40 billion in mortgage-backed securities each month has been touted by the establishment media as the beginning of “QE3? it is in fact nothing less than another banker bailout in disguise.
Story here: Here’s the pattern: 1. Lobbyists for U.S. “defense” contractors persuade politicians to give out billions of U.S. taxpayer money in foreign aid… 2. Country recieving such aid is required to use a large percentage to buy American-made military weaponry… 3. U.S. defense contractors (private companies) sell their goods, profiting handsomely off the American taxpayer… 4. Country involved in transaction falls out of favor with U.S. and war breaks out… 5. Same defense contractors profit [...] Jurriaan Maessen
In 2010 David Keith, director of the Institute for Sustainable Energy, Environment and Economy, has proposed releasing engineered nano-sized discs in the earth’s atmosphere to “offset global warming”- and that for just $ 1 billion of your taxpayer-money annually. “You could manipulate the Earth’s climate at large scale for a cost that’s of the order of $1 billion a year. It sounds like a lot of money, but [...] From Newsmax: Insisting that the General Services Administration’s bureaucrats-gone-wild party in Las Vegas may be the “tip of the iceberg,” Rep. John Mica tells Newsmax.TV that wasteful practices by the agency could top billions when all is said and done. “It has to be the poster child for bad management,” declared Mica in an exclusive interview after emerging from Wednesday’s hearing on the embattled agency by the House Transportation & Infrastructure Committee, [...] The General Services Administration spent more than $268,732 in taxpayer money to host another lavish event, Reps. John Mica (R-Fla.) and Jeff Denham (R-Calif.) said Thursday. The agency — already reeling from the scandal over its $822,000 employee conference at a Las Vegas spa in 2010 — held a performance reward ceremony at the Crystal Gateway Marriott across the Potomac from Washington in November of that year, the congressmen said at a news conference. The expenses [...] |
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