Category Archives: Banking and Wall Street
From mm: http://maddmedic.wordpress.com/
From: Patrice Lewis
Here’s the article on Market Watch. To quote: “To be sure, as McClellan acknowledged: “Every pattern analog I have ever studied breaks correlation eventually, and often at the point when I am most counting on it to continue working. So there is no guarantee that the market has to continue following through with every step of the 1929 pattern. But between now and May 2014, there is plenty of reason for caution.”
As the adage goes, “Those who do not learn from history are doomed to repeat it.”
I don’t pretend to understand the stock market, much less economics in general. But I do know there are endless precedents in history which should give us fair warning that things are not as stable and cheery as our government would have us believe. That’s why we prep.
Preppers often are students of history. They’re read about the decline and fall of the Roman Empire. They know about the fall of Greece. They’ve studied the Black Plague. They’re aware of the French Revolution. They’ve studied the American Revolution. They know the Great Depression inside and out.
And above all, they know that history has an annoying habit of repeating itself.
The history of humanity is one of struggle, strife, bloodshed, famine, competition for resources, and other discouragements. It’s a cycle. It’s happened again and again. But most people tend to think that anything that hasn’t happened since the time they were born hasn’t happened before, but of course that’s patently untrue.
In the last hundred years, most Americans have not had to deal with these difficulties on our soil. We’ve fought wars, but those have been overseas. We’ve competed for resources, but we’ve always won. Our innovation as a nation has meant we’ve been blessed with untold material comfort and food safety.
But this doesn’t mean we’ll never have to handle challenges. When we refuse to learn from history, or think history cannot repeat itself, or think we are immune to historical precedent, in our arrogance we are therefore doomed to repeat it.
People often deny that history could ever repeat itself. “This time,” they assure us, “it’s different” – without ever being able to specify what “it” is and why it would be different this time.
We like to think we live in unique times. To some extent, we do. At no other time in history has our knowledge of technology and medical skills been higher. But human nature never changes, and it’s our human flaws as well as unforeseen environmental or natural disasters that can bring even a mighty civilization to its knees.
Besides being a fascinating study, history offers a useful guide for how to handle current or future events. Being prepared to handle crises (both personally and as a nation) such as hunger, loss of resources, and other catastrophes is never a bad thing.
But rather astonishingly, some people DO look upon this thoughtful regard for history as just that – a bad thing. History has shown that governments of even the freest nations eventually turn rogue, grow cancerously large, become increasingly paranoid and suspicious, begin to steal liberties from citizens, and eventually become tyrannical, oppressive, and mistrustful of anyone who seeks to recapture individual independence and freedom.
We are currently in that state.
Our nation has come to view those who prefer to NOT depend on the government as everything from lovable crackpots to domestic terrorists. This is shortsighted in the extreme, but that’s the nature of government and its useful idiots.
That is why I urge people to study history in conjunction with preparedness. Take a look at prior civilizations and note the nature of the calamities most likely to affect us, and think what you yourself can do to mitigate the possibilities.
Naturally, preparing in no way guarantees we can avoid calamities; it simply means we try our best to minimize the impact.
“You may still be inclined to dismiss this,” notes the Market Watch article. “But there were many more were laughing last November when this scary chart began circulating. Not as many are laughing now.”
Found at 90 miles: http://ninetymilesfromtyranny.blogspot.com/
Americans know deep inside that things are very dire indeed and getting worse by the second. Overwhelmingly, they no longer believe the economic numbers from the government. Lies – all lies and propaganda. Instead of the bread lines of the last Great Depression, we have EBT Cards, providing the hungry with food. For those who have now been unemployed for years in The Greatest Depression, it doesn’t cut it. Starvation and hunger are still the ever present resident for many. Large numbers of Americans have lost their homes. More than people want to concede live in their cars or on the streets. As the numbers grow, America pretends it just isn’t so, but nevertheless, we have entered a new age of want and need brought to us by Progressives and their neglect, corruption and lack of giving a damn. Welcome to the new age and it is about to get very, very real in the good ole’ USofA. Obamacare was the final trigger coupled with massive printing of money and redistribution of wealth, via Cloward and Piven. The kill shot will be Amnesty.
The IMF goes blunt on the global stage and no one notices:
Much of the Western world will require defaults, a savings tax and higher inflation to clear the way for recovery as debt levels reach a 200-year high, according to a new report by the International Monetary Fund.
The IMF working paper said debt burdens in developed nations have become extreme by any historical measure and will require a wave of haircuts, either negotiated 1930s-style write-offs or the standard mix of measures used by the IMF in its “toolkit” for emerging market blow-ups.
“The size of the problem suggests that restructurings will be needed, for example, in the periphery of Europe, far beyond anything discussed in public to this point,” said the paper, by Harvard professors Carmen Reinhart and Kenneth Rogoff.
The paper said policy elites in the West are still clinging to the illusion that rich countries are different from poorer regions and can therefore chip away at their debts with a blend of austerity cuts, growth, and tinkering (“forbearance”).
But the paper says this mantra borders on “collective amnesia” of European and US history, and is built on “overly optimistic” assumptions that risk doing far more damage to credibility in the end. It is causing the crisis to drag on, blocking a lasting solution. “This denial has led to policies that in some cases risk exacerbating the final costs,” it said.
While use of debt pooling in the eurozone can reduce the need for restructuring or defaults, it comes at the cost of higher burdens for northern taxpayers. This could drag the EMU core states into a recession and aggravate their own debt and ageing crises. The clear implication of the IMF paper is that Germany and the creditor core would do better to bite the bullet on big write-offs immediately rather than buying time with creeping debt mutualisation.
The paper says the Western debt burden is now so big that rich states will need same tonic of debt haircuts, higher inflation and financial repression – defined as an “opaque tax on savers” – as used in countless IMF rescues for emerging markets.
“The magnitude of the overall debt problem facing advanced economies today is difficult to overstate. The current central government debt in advanced economies is approaching a two-century high-water mark,” they said.
Read that very, very carefully. So much for Keynesian economic theory. There is no saving what we have wrought. We can no longer turn back or fix this monstrosity created by the greed of those we entrusted with the leadership of our governments. Waking up to the system is a bitch.
Pension funds will be raided, savings accounts levied, property seized… You only thought you owned that land, in reality, those with the greatest force in the end will take the land unless they are somehow defeated. But the price will be in blood and be high indeed. Interest rates will soar, as will food, gas and utilities as the spiral plays out. Because controls were put on a system that should not have been rigged, it will by necessity collapse. It is not self-healing, but it is self-rectifying. Look for defaults worldwide and the fall of the dollar. It is now not a question of if, but when. Prepare to have your systems blown.
You cannot expect things to get better when you have so many Progressive irons in the communist fire:
- Obamacare Rate Shock
- Higher Taxes
- Higher Interest Rates Mean Larger Debt Payments
- Government Benefit Cuts
- Wealth Confiscation
Tell me you don’t feel it in your bones – this is the transformation of America that Obama promised. We are in the midst of The Greatest Depression and none dare call it what it is. Up is down, black is white. We are told all is fine, the economy is recovering… we are doing better and are stronger than ever. In reality, we are destitute, our military prowess has been gutted and our national wealth has been redistributed, while the Marxists stomp on and jeer at our Constitution. 2014 is the year we fight and we better join forces and take back the Republican Party and get true conservatives elected – the Tea Party has roared to life and millions are preparing for the battle of a lifetime. An American Depression: Extreme Haircut Edition is unfolding in the once land of the free, home of the brave and our leaders are singing: “Let them eat cake!” Just say no to Weimar cake and French-style servitude.
From Trevor Loudon: http://www.trevorloudon.com/
Only 37? Surely you jest.
37 Reasons Why “The Economic Recovery Of 2013″ Is A Giant Lie If you assume that the labor force participation rate in the U.S. is at the long-term average, the unemployment rate in the United States would actually be 11.5 percent instead of 7 percent.
There has been absolutely no employment recovery. The percentage of Americans that are actually working has stayed between 58 and 59 percent for 51 months in a row. But most Americans don’t understand these things and they just take whatever the mainstream media tells them as the truth.
From AD: http://americandigest.org/
Cyprus graphically illustrates where the road to socialism leads, on its way to full-flown Soviet-style communism:
The surprise decision by euro zone leaders to part-fund a bailout of Cyprus by taxing bank deposits sent shockwaves through financial markets on Monday, with shares and the bonds of struggling euro zone governments tumbling.
The bloc struck a deal on Saturday to hand Cyprus rescue loans worth 10 billion euros ($13 billion), but defied warnings – including from the European Central Bank – and imposed a levy that would see those with cash in the island’s banks lose between 6.75 and 9.9 percent of their money.
It is no longer safe to keep money in the bank, because profligate bureaucrats will find it there and confiscate it.
The purpose of this outrage was to prevent Cyprus from going into default.
That would have undermined the promise that Greece’s debt writedown last year was a one-off, but the unprecedented move to hit depositors adds a radical new dimension to the crisis across the euro zone.
The initial response of investors was unambiguous. Shares lurched lower, the euro fell to a new three-month low, while safe-haven assets such as gold and German government bonds jumped.
The cost of insuring the debt of even high-quality European banks against default also rose sharply with analysts citing fears the decision could spark contagion across peripheral regions with the potential for widespread outflows of deposits.
Anyone with money in a Spanish or Italian bank might consider keeping it instead under the mattress where it will be relatively safe.
After the Mediterranean dominos fall, Germany will be left to carry the entire Eurozone on its back. Don’t buy stock in its success.
Similar tax and spend policies, arising from similar contempt for the concept of private property, will have similar effects in the USA. It is only a matter of time.
Liberals tell us there is a third way between freedom and communism. There isn’t. You can’t cop out when it comes to good and evil. Every society has to choose, and if it chooses wrong, it has to face the consequences.
On tips from Ghost of FA Hayek, Dr. 9, Bob Roberts, Sean C, Don M, and Wiggins. Hat tip: Zero Hedge.
Found at American Digest
Vast Effin’ Warning: A London Cabbie Explains The Great EU Bank Robbery And Much Much More
“You will lose your f##king money in your bank,” is how this English gentleman cabbie begins his caustic diatribe against all that is wrong with European (and in fact) the world of bankers and elites. The so-called ‘artist taxi driver’ has a spit-flying hand-smashing epic rant while sitting in his taxi. “They did a stress test on the banks in Cyprus 18 months ago and said it’s f##king great” and now this; “this is some f##king crooked shit.” “They’re off their f##king nuts mate,” he explains as he asks rhetorically of the bankers getting the bailouts, “how many f##king ponies do their daughters’ need?”
That would be my solution to Phildelphia’s Burqa Problem. Daniel Pipes, well-known Islamic scholar and author, would like to see female Islamic garb (full face-covering burqas and niqabs) banned in public in Philadelphia, where burqas have become the disguise of preference for criminals, especially robbers of stores and banks.
Washington Times The Philadelphia region has had at least 15 robberies (or attempted robberies) of financial institutions in the past six years in which the thieves relied on an Islamic full-body cover. The most violent one took place on May 3, 2008, when Police Sgt. Stephen Liczbinski was killed in a shootout following a robbery by perpetrators wearing burqas. One of the criminals also died in the exchange.
As David J. Rusin points out in his detailed survey of these crimes, Muslim garb holds two great advantages over other forms of disguise. First, plenty of covered women walk the streets of Philadelphia without criminal intent, thereby providing cover for thieves; the more head coverings around, the more likely it is that head coverings will facilitate criminal activity.
Second, the very strangeness and aloofness of these garments affords their wearers an extraordinary degree of protection. As in other cases (notably a purchase of alcohol in Toronto liquor stores by a 14-year-old boy in a burqa), clerks so fear being accused of racism or “Islamophobia” that they skip established methods, such as asking a niqabi to establish her (or his) identity.
In response, some banks have adopted policies of not allowing head coverings. For example, a PNC Bank branch office in Philadelphia boasts a sign stating: “The safety of our employees and customers is our foremost concern. We request that you remove any hats, caps, sunglasses or hoods while inside this financial institution.” Such policies may help account for the lack of burqa robberies in Philadelphia in almost a year.
Two burka-wearing bank robbers have pulled off a heist using a handgun concealed beneath their full Islamic veil.
Even if banks stop this crime wave, however, Islamic garb presents a more general danger. For example, a murderer wore an Islamic full-cover outfit in an attack at a barber shop in Philadelphia, also in April 2012, in which the owner was killed.
The abduction and rape of a 5-year-old child last month was less fatal, but equally horrific. A woman in a niqab signed Nailla Robinson out from the Bryant Elementary School in Philadelphia by pretending to be her mother taking the girl to breakfast. The girl then disappeared for nearly a day. Investigators believe the two walked a few blocks to where a man awaited them. Nailla was later found in a park by passersby. Last week, the police arrested Christina Regusters, 19, an employee at Bryant who apparently had prior contact with Nailla. Charges against her include criminal conspiracy, aggravated assault, kidnapping, rape and recklessly endangering another person.
School kidnapping caught on CCTV
The usual two factors noted above were critical to this crime’s commission: the spread of full-body gear (Nailla’s mother, Latifah Rashid, wears a niqab, meaning Ms. Regusters could plausibly pretend to be her) and the Bryant school staff deferring to a niqabi (completely ignoring the many rules that restrict the withdrawal of a child from school).
These crimes prompt several reflections: First, as full-body Islamic covers spread, criminals increasingly use them to perpetrate their offenses. Second, government workers and others need to get over their timidity and apply normal security procedures to those wearing full-body coverings. Third, this is deadly serious business, involving thefts, rapes and murders. Finally, this problem has a simple solution: Ban the niqab and burqa in public places, as has been done in France and Belgium.
Daniel Pipes (DanielPipes.org) is president of the Middle East Forum.
From Bare Naked Islam: http://www.barenakedislam.com/
National Black Chamber of Commerce CEO: Obama policies are “borderline Communist”
By: John Hayward
2/27/2013 10:19 AM
Alford attributes Obama’s early appeal to charisma and, frankly, a good deal of racial solidarity, with voters from various minority groups seeing Obama as an avatar of their own hopes and dreams. He sees that appeal as naive after watching Obama campaign incessantly for years, while allowing the national economy to lie fallow, or imposing his agenda at a steep cost to our general prosperity.
“He’s spending, spending, spending,” said Alford. ”That’s the problem. He wants to tax, tax, tax… yet the irony of it is, he dogs successful people, he says they’re bad, rich is evil. But yet he’s courting the rich on his knees, to come and give him some money, so he can use it for whatever reason, I don’t know. He’s turned out… I don’t know what he’s planning for us.”
Alford compared Obama’s overwhelming support from the black community to the unconditional support a troubled family member might receive from parents and siblings… support which enables continued bad behavior. ”We gotta wake up, slap ourselves and wake up,” he said. ”This is America, and everybody is involved in this. If our children are hurting, it’s our responsibility to find someone who understands that pain – ‘feels it,’ like Bill Clinton would say. This guy doesn’t feel it. In fact, he issues a lot of that pain, with a smile.”
He understands that phrases like “borderline Communist” are heavily freighted, but stands by his use of the term. ”It’s so anti-capitalistic, this distribution of wealth,” Alford explained. ”That, to me, that says it all. He wants to re-distribute wealth, take money that was honestly earned by people who struggled, and suffered, and paid the price to win that money… he wants to take it from them, and give it to people who don’t have to do a thing. It’s the will of the State to oversee everyone.” Just for good measure, he went on to compare the Obama-friendly American media to Soviet propaganda.
While certainly contentious – one cannot deploy worlds like “communist” without setting off some fireworks – it is useful to consider the current conflict in terms of capitalism versus its adversaries. Obama-style government presents itself as a modification of capitalism – it’s more fair, equitable, compassionate, smarter, etc. but he would dispute Alford’s accusation that he has turned against it. But how much can the pure, practical expression of liberty be “modified” before it’s not really capitalism any more? And what are the proper terms for the ideologies historically aligned against it?
Alford concluded by deriding the supposedly agonizing 2.3 percent sequestration spending cuts as “peanuts,” noting that private-sector CEOs would be delighted if the worst thing they had to confront was such a tiny budget cut. Of course, that’s not the worst thing our unsustainable federal government must confront; they’re only acting like it is. And if they choke on the peanuts, they’ll never be able to handle the main course of fiscal restraint.
Nothing to see here folks, totally sustainable.
(CNSNews.com) – According to projections from the Congressional Budget Office (CBO), entitlements and ObamaCare spending will comprise 53 percent of all federal spending over the coming decade, totaling $24.9 trillion.
In its updated Budget and Economic Outlook report released on Tuesday, the CBO projects that Social Security will account for $11.149 trillion in spending from 2014 to 2023 while federal health care entitlements, including Medicare, Medicaid, and ObamaCare, will spend $13.85 trillion. (That total includes TRICARE, CHIP, and “other” spending listed by the CBO under healthcare.)
ObamaCare’s insurance subsidies, exchange costs, and other spending are expected to cost the government $949 billion over the next 10 years. Medicare is expected cost $8.1 trillion while Medicaid is expected to cost $4.4 trillion.
Combined, these two entitlement categories (Social Security and all health care programs) will comprise 52.9 percent of the projected $47.2 trillion in total federal outlays from 2014 to 2023.
From Weasel Zippers: http://weaselzippers.us/
The Oklahoma chapter of the Council on Anti-American Islamic Relations (CAIR-OK) and the American Civil Liberties Union (ACLU) of Oklahoma on Thursday expressed appreciation to the Oklahoma Bankers Association for ‘clarifying’ a security policy commonly referred to “no hats, no hoods, no sunglasses” used by many of the state’s banks.
(Gee, they are going to soften their rules on Muslim headgear, just when burqas and niqabs are becoming bank robbers’ favorite disguise) Tulsa World The two groups along with the Oklahoma Conference of Churches recently requested a meeting with the OBA following an incident in which a Muslim woman was initially denied access to a branch of Valley National Bank in Tulsa and asked to remove her religious head scarf, or hijab, before entering. The bank cited the “no hats, no hoods, no sunglasses” policy to justify its actions.
“Our goal in meeting with the OBA was to use this unfortunate incident as a teaching moment about the different types of head coverings worn by Muslim women and by individuals of other faiths,” said CAIR-OK Executive Director Adam Soltani, in a written statement.
Elaine Dodd, the vice president of the OBA’s fraud division, noted that the “no hats, no hoods, no sunglasses” program hasn’t changed, but…….”If someone is wearing a burqa, which does cover most everything, then a female bank employee can go with them and have them raise the veil,” Dodd said. “We want to be inclusive to all customers. It’s just that it’s a learning curve for all of us, and we appreciate them talking to us about it.”
The OBA published two articles in its January 2013 trade publication, Oklahoma Banker, revisiting the “no hats, no hoods, no sunglasses” initiative and offering suggestions on how member banks could respect the religious requirements of customers without sacrificing security.
In one article, Mary Beth Guard, with the OBA compliance team, explains the difference among head coverings – the hijab, niqab and burqa – worn by Muslim women. The hijab covers all or part of the hair and is draped around the neck. ”It should not interfere with your ability to match the person to a photo I.D. and there should be no reason to ask the customer to remove it,” the article says.
The niqab covers the face but leaves a narrow opening for the eyes, the article states. ”In connection with opening an account or doing some other transaction where you need to ascertain identity, a female bank employee should ask that the Niqab be lifted in order to allow viewing of the face,” the article says. “This should be done as discreetly as possible and it should be done in an area where the viewing of the face will not be witnessed by males (unless they are related to the individual).”
From Theo: http://www.theospark.net/
Hostess’s owners have decided to liquidate rather than ride out a nationwide strike by one of the largest of its dozen unions, the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union. The Texas-based company owned by the private-equity shop Ripplewood Holdings and other hedge funds essentially gave up. On Friday it shut down its 33 bakeries and 565 distribution centers and prepared to fire nearly 18,500 employees en masse and auction off its brand and recipe portfolio.
Hostess posted sales of $2.5 billion in 2011 but lost $341 million and lacked the cash flow to hold out through the bakers union work stoppage that had only lost a few days of production so far. One reason is a labor-rule burden that by comparison makes Detroit look like Hong Kong.
The snack giant endured $52 million in workers’ comp claims in 2011, according to its bankruptcy filing this January. Hostess’s 372 collective-bargaining agreements required the company to maintain 80 different health and benefit plans, 40 pension plans and mandated a $31 million increase in wages and health care and other benefits for 2012.
Union work rules usually required cake and bread products to be delivered to a single retail location using two separate trucks. Drivers weren’t allowed to load their own vehicles, and the workers who loaded bread weren’t allowed to load cake. On most delivery routes, another “pull up” employee moved products from back rooms to shelves.
This year management negotiated concessions from some of the unions, including the Teamsters, but the bakers rejected a last and best offer in September. Then the courts gave Hostess unilateral authority to modify collective-bargaining contracts, prompting the strike. So now it will liquidate, instead of attempting to emerge from Chapter 11 intact.
The 18,500 layoffs are equal to about 11% of the net new jobs the entire U.S. economy created in October. The unions are blaming private equity, or Bain Capital, or capitalism, but the election is over. And so is Hostess.
From American Power Blog: http://americanpowerblog.blogspot.com/
Miserable Economic Conditions Will Lead to Dependency, Envy, Strife, and Death – The Liberal Formula Being Carried Out in America
The objective of liberal politics is to induce the Democrat Death Spiral, a vicious cycle by which miserable economic conditions lead to government dependency and class envy, leading to Democrat electoral victories, leading to higher taxes and crippling regulations, leading to still more miserable economic conditions. Once the Democrat Death Spiral has been initiated, the more damage left-wing bureaucrats inflict on the economy, the more certain they are of reelection.
Detroit entered the Democrat Death Spiral decades ago. As a result of the city’s utter wretchedness, the Democrats who inflicted it receive upwards of 90% of the vote. There is no possibility of Democrats losing control, or of the city ever regaining its lost greatness.
California officially entered the Democrat Death Spiral when it brought back Jerry Brown despite a desperate economic situation that urgently required the state to turn away from Governor Moonbeam’s brand of profligate liberalism. In effect, the state committed suicide out of sheer moonbattery. Its prospects are no better than Detroit’s.
The United States of America officially entered the Democrat Death Spiral on November 6, 2012. Obama was not reelected despite the awful state of the economy under his rule but because of it. The more of a mess Obama makes, the more his Marxist rhetoric will resonate, the tighter the grip Democrats will have on America’s throat. This is why Obama will not lift a finger to improve the economic situation, but rather will deliberately worsen it by using taxation to drive up unemployment.
From here forward, the worse it gets, the worse it will get. Unless a way is found to reverse the cycle by removing liberals from power, each day will be the best day of the rest of America’s existence.
Be sure to thank the next liberal you see.
Last night, President Barack Obama dropped the biggest campaign gaffe of the season – only the media wasn’t watching. It happened during his testy exchange with Mitt Romney over gas prices. First, Obama denied that he’d done anything about denying licenses on oil and gas; he backed off of that shortly. Then he denied that production on federal land was down; he was lying. Finally, Romney hit him with this devastating line:The proof of whether a strategy is working or not is what the price is that you’re paying at the pump. If you’re paying less than you paid a year or two ago, why, then, the strategy is working. But you’re paying more. When the president took office, the price of gasoline here in Nassau County was about $1.86 a gallon. Now, it’s $4.00 a gallon.Obama’s response was horrendous:
Well, think about what the governor — think about what the governor just said. He said when I took office, the price of gasoline was $1.80, $1.86. Why is that? Because the economy was on the verge of collapse, because we were about to go through the worst recession since the Great Depression, as a consequence of some of the same policies that Governor Romney’s now promoting. So, it’s conceivable that Governor Romney could bring down gas prices because with his policies, we might be back in that same mess.In other words, bringing down gas prices by drilling creates economic recession. That was Obama’s argument.
Does anyone think this president understands basic economics?
To me this is the worst type of gaffe, because it involves substance, not some brain fart or slip of the tongue. Also recall that in 2008, Democrats, including, I believe, then candidate Obama hammered President Bush over high gas prices. Of course the media completely missed this gargantuan gaffe.
Candy Crowley, who moderated the debate like she has a poster of Obama over her bed, should have given this response
Chris at Wyblog pours even more scorn on President Clueless
There is so much sand-pounding stupidity in that statement, I don’t know where to start. FortunatelyElizabeth Price Foley guest-blogging at Instapundit schools The Smartest Guy In The Room using words even an Obamabot can understand.
Gas prices, like anything else, are a function of supply and demand. A recession or depression reduces demand. If supply stays constant, gas prices will fall. But if the supply side of the equation is also negatively affected/reduced — as, for example, the reduction of leases and drilling on federal land, as pointed out by Romney — gas prices should rise (as they have). The bottom line? Gas prices should have — probably would have — fallen in our current recession, due to decreased demand. But since the Obama Administration’s anti-carbon, anti-fossil fuel policies have taken hold, the negative impact on supply has outpaced the reduction in demand, leading to significantly higher prices.
From The Daley Gator: http://thedaleygator.wordpress.com/
Found at Moonbattery: http://moonbattery.com/
What are the purposes of the CIA and FBI? To collect intelligence, investigate crimes, defend American interests, ensure public safety? Of course not. They are federal agencies; therefore, their purpose is to advance moonbattery:
From the CIA’s website:
From the FBI’s website:
Meanwhile, our ambassadors are getting murdered and dragged naked through the streets in part because bureauweenies are too busy promoting sexual depravity to collect intelligence that would allow us to defend ourselves. The FBI still hasn’t secured the crime scene (or rather, act of war scene) at our overrun consulate in Libya.
The consequences of allowing our government to be dominated by liberals will continue to be hideous.
Hat tip: Before It’s News, on a tip from Joe B.
From Moonbattery: http://moonbattery.com/
The Declining Economic Freedom Of The United States
From 1980 to 2000,the US was generally rated the third freest economy in the world, ranking behind only Hong Kong and Singapore.
The ranking of the US has fallen precipitously; from second in 2000 to eighth in 2005 and 19th in 2010. By 2009, the United States had fallen behind Switzerland, Canada, Australia, Chile, and Mauritius, countries that chose not to follow the path of massive growth in government financed by borrowing that is now the most prominent characteristic of US fiscal policy. By 2010, the United States had also fallen behind Finland and Denmark, two European welfare states. Moreover, it now trails Bahrain, the United Arab Emirates, Estonia, Taiwan, and Qatar. — | ZeroHedge
From American Digest: http://americandigest.org/
Holder and Corzine Don’t Have to Worry – Commies Are Running the Show and Will Give Them A Free Pass
Holder, Corzine, Obama and all the rest don’t give a shit
that any of this is coming out.They are sitting back and LAUGHING at all of it. You know why?
Because they know damn good and well that no one is going to actually do ANYTHING about any of this, just like no one did anything about it in Russia under Lenin and Stalin or China under Mao….. You want to see justice? Kiss your wife and kiddies goodbye, gear up, and tell me where the mustering point is. Unless and until that happens, not only will there be no justice, but the crimes will only get exponentially worse until we are the New Vendee and infernal columns of the Free Shit Army are being sent into suburbia to kill every human being in their path in the name of hope, change, “tolerance” and free shit. — Anne Barnhardt
From American Digest: http://americandigest.org/
Posted on | July 13, 2012 |
Just now watched James Rosen on Fox News explaining this to Jenna Lee and — despite the eye-glazing intricacies of the financial details involved — recognized it as a potentially major scandal:
Years before the Libor scandal ripped through the financial industry, Timothy Geithner sent a memo to the Bank of England calling for a slew of changes to make it harder for banks to rig this benchmark borrowing rate.
According to a June 2008 memo obtained by FOX Business, Geithner, who was then president of the New York Federal Reserve, listed six changes aimed at making it more difficult for banks to distort Libor.
The disclosure comes as lawmakers step up the heat on bankers and regulators in the wake of Barclays . . . reaching a $452 million settlement for allegedly intentionally manipulating its Libor rates. More than a dozen banks are being probed for their handling of Libor.
So, the Treasury Secretary who has been up to his eyeballs in the political manipulation of the U.S. economy warned against the private manipulation of financial data for profit.
Read it all at The Other McCain: http://theothermccain.com/