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Saturday, June 30, 2012

European summit not looking good; dollar rising | The Official APMEX Inc. Blog

European summit not looking good; dollar rising | The Official APMEX Inc. Blog:

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How Obama Lost Canada | Foreign Affairs

How Obama Lost Canada | Foreign Affairs:

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Friday, June 29, 2012

Don Watkins on the Obamacare Decision

Stolen Valor Act ruled unconstitutional by Supreme Court | The American Legion's BurnPit

Stolen Valor Act ruled unconstitutional by Supreme Court | The American Legion's BurnPit

21 New Taxes in ObamaCare: Including $92 Billion in Increases on the Middle Class, Several Billion on Small Businesses, $60 billion on Health Insurance premiums - Lone Flame News

21 New Taxes in ObamaCare: Including $92 Billion in Increases on the Middle Class, Several Billion on Small Businesses, $60 billion on Health Insurance premiums - Lone Flame News

Rick Santelli: The Problem with a Free Lunch

Highest Radiation Detected In Japan's Fukushima Reactor

Highest Radiation Detected In Japan's Fukushima Reactor

Rick Santelli Reacts to Obamacare Supreme Court Ruling

The Difference Between Outsourcing and Offshoring

Supreme Court Declares Obamacare Constitutional as a Tax

Thursday, June 28, 2012

Deadly attack on pro-Assad TV channel - Middle East - Al Jazeera English

Deadly attack on pro-Assad TV channel - Middle East - Al Jazeera English:

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US Supreme Court Upholds Obamacare...But Not The Constitution - YouTube

US Supreme Court Upholds Obamacare...But Not The Constitution - YouTube:

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Reality Check: President Obama’s Immigration Reform Rings Hollow

Reality Check: President Obama’s Immigration Reform Rings Hollow

Supreme Court's Obamacare decision hands federal government unlimited power to force you to spend 100% of your paycheck on things you don't even want

Supreme Court's Obamacare decision hands federal government unlimited power to force you to spend 100% of your paycheck on things you don't even want:

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Sen. Rand Paul Discusses on CNBC the Supreme Court's Ruling on Obamacare - 6/28/12 - YouTube

Sen. Rand Paul Discusses on CNBC the Supreme Court's Ruling on Obamacare - 6/28/12 - YouTube:

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WX TXT | Marketplace.org

WX TXT | Marketplace.org

Federal Health Care Nullification Act – Tenth Amendment Center

Federal Health Care Nullification Act – Tenth Amendment Center

Consumer Metrics Institute: Home of Daily Consumer Leading Indicators

Consumer Metrics Institute: Home of Daily Consumer Leading Indicators

The Ayn Rand Institute: Email - Supreme Court Supports Obamacare: American Freedom Strangled

The Ayn Rand Institute: Email - Supreme Court Supports Obamacare: American Freedom Strangled:

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Euro region unusually divided before summit | The Official APMEX Inc. Blog

Euro region unusually divided before summit | The Official APMEX Inc. Blog:

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President Gives Shout-Out to Tax-Dodging Donor during Speech on "Fair Share" Taxes - Lone Flame News

President Gives Shout-Out to Tax-Dodging Donor during Speech on "Fair Share" Taxes - Lone Flame News:

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Obama Ad Dubiously Bashes Romney for Call Center in India, Ignores that Obama Campaign has Call Center in Philippians - Lone Flame News

Obama Ad Dubiously Bashes Romney for Call Center in India, Ignores that Obama Campaign has Call Center in Philippians - Lone Flame News

Financial Armageddon: Econonomic and Social Conditions: More Closely In Synch

Financial Armageddon: Econonomic and Social Conditions: More Closely In Synch:

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San Antonio Web Design, Web Development, Inbound Marketing | Digett

San Antonio Web Design, Web Development, Inbound Marketing | Digett

Wednesday, June 27, 2012

ObamaCare Update: Thursday 10a.m. EST, Supreme Court to Announce Ruling

ObamaCare Update: Thursday 10a.m. EST, Supreme Court to Announce Ruling:

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Is US government setting stage to outlaw Vitamin D like raw milk? Mainstream media attacks nutrition

Is US government setting stage to outlaw Vitamin D like raw milk? Mainstream media attacks nutrition:

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Update on the court case.

The Obama Economy Stalls

The Obama Economy Stalls

Why Baby Boomers are the innovators of the future - Ideas@Innovations - The Washington Post

Why Baby Boomers are the innovators of the future - Ideas@Innovations - The Washington Post:

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George Zimmerman Passed Police Lie Detector Test Day After Trayvon Martin Killing | The Smoking Gun

George Zimmerman Passed Police Lie Detector Test Day After Trayvon Martin Killing | The Smoking Gun

Stockton braces for possible bankruptcy as key vote looms - latimes.com

Stockton braces for possible bankruptcy as key vote looms - latimes.com

News from The Associated Press

News from The Associated Press:

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America is no longer a land of opportunity - FT.com

America is no longer a land of opportunity - FT.com:

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Tuesday, June 26, 2012

TSA agent opens jar of man's ashes, spills them on the floor, then 'stands and laughs' as grandson scrambles to gather them up | Mail Online

TSA agent opens jar of man's ashes, spills them on the floor, then 'stands and laughs' as grandson scrambles to gather them up | Mail Online:

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*GERMANY CUT A+ FROM AA- BY EGAN-JONES RATINGS COMPANY | The Big Picture

*GERMANY CUT A+ FROM AA- BY EGAN-JONES RATINGS COMPANY | The Big Picture:

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Argentina's Growing Rift Between Labor and Government (Dispatch)

How U.S. immigration law compares to other countries | Marketplace.org

How U.S. immigration law compares to other countries | Marketplace.org

Picture this... | Marketplace.org

Picture this... | Marketplace.org:

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Federal Reserve “New Poster” on Printing Fiat Currency Out of Thin Air

Federal Reserve “New Poster” on Printing Fiat Currency Out of Thin Air

Mish's Global Economic Trend Analysis: Germany's Finance Minister Lectures Obama On Debt, Defends Euro, says German Referendum Needed Soon

Mish's Global Economic Trend Analysis: Germany's Finance Minister Lectures Obama On Debt, Defends Euro, says German Referendum Needed Soon:

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Sen. Rand Paul Continues to Fight to Cut off Foreign Aid to Pakistan - 6...

The Purposefully Invisible 4 World Trade Center | The Big Picture

The Purposefully Invisible 4 World Trade Center | The Big Picture:

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The United States of America: What facts about the United States do foreigners not believe until they come to America? - Quora

The United States of America: What facts about the United States do foreigners not believe until they come to America? - Quora

Members of Congress trade in companies while making laws that affect those same firms - The Washington Post

Members of Congress trade in companies while making laws that affect those same firms - The Washington Post:

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US Economy Looking Dim; Gas Prices Down | The Official APMEX Inc. Blog

US Economy Looking Dim; Gas Prices Down | The Official APMEX Inc. Blog:

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Putin's Visit and Israeli-Russian Relations | Stratfor

Putin's Visit and Israeli-Russian Relations | Stratfor

Syrian Military Defections and Turkey's Next Move (Dispatch)

PODCAST: New president in Egypt, new decision in the Supreme Court | Marketplace.org

PODCAST: New president in Egypt, new decision in the Supreme Court | Marketplace.org:

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Thank You! – Tenth Amendment Center

Thank You! – Tenth Amendment Center:

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Saudis to behead joy-rider for hit-and-run incident | World | Reuters

Saudis to behead joy-rider for hit-and-run incident | World | Reuters:

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House Government Oversight and Reform Committee Members | Campaign for Liberty

House Government Oversight and Reform Committee Members | Campaign for Liberty:

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Financial Armageddon: Good News, Bad News

Financial Armageddon: Good News, Bad News

Yaron Answers: Don't the Poor Need Help from the Government?

Yaron Answers: What's Wrong With Free Health Care? - YouTube

Yaron Answers: What's Wrong With Free Health Care? - YouTube

Obama campaign data mining everything about you and your parents

Obama campaign data mining everything about you and your parents

Mish's Global Economic Trend Analysis: Poll Shows 78% in Germany, 65% percent in France, 51% in Spain, 49% in Italy Want Greece to Exit Euro; Greek PM, Finance Minister Will Miss Summit Due to Illness; Permanent Nausea

Mish's Global Economic Trend Analysis: Poll Shows 78% in Germany, 65% percent in France, 51% in Spain, 49% in Italy Want Greece to Exit Euro; Greek PM, Finance Minister Will Miss Summit Due to Illness; Permanent Nausea

Monday, June 25, 2012

The Supreme Court Strikes Down Arizona Immigration Laws - YouTube

The Supreme Court Strikes Down Arizona Immigration Laws - YouTube

NAPOLITANO: Can Obama rewrite federal law?

NAPOLITANO: Can Obama rewrite federal law?

CONFIRMED: US CIA Arming Terrorists in Syria > Strategic-Culture.org - Strategic Culture Foundation

CONFIRMED: US CIA Arming Terrorists in Syria > Strategic-Culture.org - Strategic Culture Foundation:

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Weekly Forecaster


Bankers Arrested!...in Iceland
by James Corbett
Corbett@CorbettReport.com
TheInternationalForecaster.com
CorbettReport.com
23 June, 2012

Last week in these pages we forecasted: that a pro-bailout party would win the Greek election; that the socialists would take a majority in the French elections; that Spain would require a significantly larger bailout to prop its banking sector up; and that the Fed would likely extend Operation Twist as a way of keeping everything moving along sideways. Check, check, check, and check. In most areas of life, 4 for 4 is something to be happy about, but when forecasting during the death throes of the global economic system as we've known it, getting things right is hardly cause for celebration.
Here's a prediction I'd like to see come true: the American public, finally realizing the extent of the depravity on Wall Street, will start to examine what really happened in the past five years. Following the trail of trillions in bailouts and stimulus funny money to the same groups of banksters and treasurers who created the housing crisis in the first place, the public will see through to completion the criminal investigations and prosecutions of the criminals behind the subprime loan fiasco, the too-big-to-failouts, the mortgagegate scandal, the quadrillion dollar derivative black hole, and all the other frauds that have been pulled on the people of the US and the world in general over the past five years. After which, the path will be clear to the discovery of the deeper truth behind the economic charade: the rigging of the markets via the President's Working Group on Financial Matters; the control of both political parties by the same banking factions; the funny money dollar propped up by nothing more than the promise of the labor (and taxes) of future generations. One can always dream...
By any reasonable standard we should already be well down the path to reaching that prediction. The latest outrage? A US Government Accountability Office audit showing how Fed board members funneled over $4 trillion in emergency Fed funding to their own banks and businesses at the height of the 2008 meltdown. The funds in question included near-zero interest rate loans as well as other financing, and went straight from the Fed's coffers to the likes of JP Morgan, Goldman Sachs and GE. The problem? JP Morgan's CEO, Jamie Dimon, was on the board of directors of the New York Fed when the Fed decided to use JP Morgan as a clearinghouse for emergency funds, granting it access to some $391 billion including $29 billion for the acquisition of Bear Stearns. Goldman Sachs board member Stephen Friedman was the chairman of the NY Fed even as the Fed granted Goldman bank holding company status and access to cheap Fed loans. Yet another NY Fed board member, Jeffrey Immelt, was coincidentally the CEO of General Electric at the same time that the Fed provided GE with $16 billion in emergency fund financing. Can we spell conflict of interest? Evidently the Senate can, as evidenced by the Federal Reserve Independence Act, which seeks to ban employees of Fed-regulated companies from sitting on the Fed's regional boards. All of this may sound hopeful, but given that this conflict of interest has been built into the Federal Reserve system since its inception 99 years ago, one wonders what's taken the Senate so long to get around to “correcting” it. That's a rhetorical question. Of course, no one will so much as lose their bonus over the whole affair because the public that should be outraged about this is busy with more important matters, like the NBA playoffs.
And so it is with so many of the scenes that have unfolded in Washington and on Wall Street since the Greenspan-spun housing bubble popped and the unraveling of the derivatives-fueled shadow economy began in earnest. The bankers help themselves to more and more of the trough on the taxpayers' dime and the public allows it to happen. With each iteration the lies become more brazen: the threats of martial law if the bailout didn't happen; the robosigning scandal; MF Global; the JP Morgan silver and gold futures manipulation; and now the conflict of interest scandal. The public, it seems, now fully recognizes that Congress intends to prosecute steroids in baseball much more aggressively than they will ever look into Wall Street malfeasance, and worse yet, they seem resigned to that fact. This is why it's so difficult to predict that the public will rise up and begin to demand accountability; it's difficult to imagine how much worse things have to get before people stand up to the bankers.
And yet, just because it's not happening doesn't mean it can't happen. Witness what's happening in Iceland. Earlier this month Iceland's Supreme Court handed down a four-and-a-half year sentence to Jon Thorsteinn Jonsson and Ragnar Zophonias Gudjonsson, two former executives at Iceland's Byr Savings Bank. In 2008, just before the bottom fell out of the Icelandic banking system, the pair used their positions to approve an 800 million kronur loan from Byr to Exeter Holdings ehf. That loan was used to buy out Jonsson and Gudjonsson's shares in Byr, which were then put up for sale as collateral to guarantee the loan itself. Now the pair are preparing to spend the next half a decade behind bars.
And the Icelanders didn't stop there. Earlier this week Olafur Thor Hauksson, the special prosecutor investigating the misdeeds of the Icelandic banking crisis, confirmed more arrests and raids. One of those scooped up was Jon Thorsteinn Oddleifsson, the former treasury boss of Landsbanki. Three others from Landsbanki were arrested, and raids and searches were conducted at MP Bank, Straumur (now ALMC), and even the central bank itself. All of these banks are under investigation and more arrests are expected.
Haven't heard about Hauksson, or the Jonsson and Gudjonsson convictions, or the prosecutor's office's raid of the Icelandic central bank? Now why would that be, I wonder? It's almost as if the media would prefer the public didn't hear about the round-up, prosecution and conviction of once-powerful bankers, lest they get any ideas for their own political context. Imagine that.
Still, all hope is not lost for the beginning of the Great Banker Round-up of 2012. It seems a significant-but-underreported financial corruption case has just broken through to the mainstream. Is it MSNBC breaking the story? Bloomberg? The New York Times? Hardly. One of the “respectable” institutions across the pond, then? The Financial Times? The Economist? Nope. It's Matt Taibbi of Rolling Stone. He has an in-depth write up on USA v. Carollo, Goldberg and Grimm, a tale of three GE Capital employees who were just convicted for their part in a scheme that the big boys of Wall Street have been using to rip off towns and cities across America for the past decade. In short, the defendants (Dominick Carollo, Steven Goldberg and Peter Grimm) were convicted of rigging the bids for municipal bond auctions, engineering fake auctions where pre-arranged winners were allowed to see the other bids and adjust their offer accordingly. The three defendants in this case were just the tip of the iceberg, and several other banks were found to have taken part in the scam. What's interesting is the way these three were caught: they discussed the bid rigging openly in phone calls that they knew were being recorded by their own companies. There comes a point when corruption is so endemic in a system that criminals forget that they can be prosecuted (let alone convicted) for crimes they are committing out in the open. It should surprise no one that Wall Street reached that point long ago. It should also surprise no one that it took a rock'n'roll music man to tell the American public about a case that the MSM business media wouldn't touch with a ten-foot pole.
The moral of the story? Steal a hundred dollars from a cash till at a convenience store and you'll be locked up for years, and well you should be. Swindle cash-strapped towns and cities by skimming untold billions off the top of the municipal bond auction market in coordinated bid-rigging with some of the biggest players in finance in a scam lasting over a decade, however, and three of the low-level participants might end up with a conviction and a few years behind bars...if they were dim-witted enough to engage in that bid-rigging openly in knowingly recorded phone calls. If this does not instill confidence in the inherent justice of the American “justice” system, you're getting the idea. If it makes you question the priorities of the American public that 99.9% of the public has never even heard of the case, much less care about it (just ask the person behind you next time you're waiting in line at the supermarket check-out if you don't believe me), then perhaps you're beginning to get the underlying point.
If it's difficult for the public to even conceive of these crimes as crimes, perhaps it's a result of the sheer grandiosity of the crimes in question. Stalin famously said “one death is a tragedy; one million is a statistic.” The same applies to fraud. Ripping off your friend is a crime. Ripping off thousands of towns and cities across the country to the tune of billions of dollars over the course of a decade is a “regrettable trading practice.” Is this likely to change in the near future? Are we likely to see the floodgates open and the prosecutions commence in earnest? A special counsel appointed to start raiding and searching the offices of the Fed? The CEOs of major banks placed under arrest? Assuming you require an answer at all, I will merely point you to the current Attorney General and the ongoing Fast and Furious scandal for an idea of just how committed the Department of “Justice” is to living up to its name.
And so Wall Street will continue along in its sprint to the finish line of the takedown of the American economy, crying foul over the Moody's downgrading even as billion-dollar scandal after billion-dollar scandal continues to emerge. Economies around the globe will continue along in a similar vein, with similar tales of increasingly brazen abuse and corruption. The EU will continue its song and dance, trying to convince the world that the Spanish banks will “only” require another 50 to 80 billion Euros to meet capital shortfalls in a worst-case scenario (it's actually over 100 billion). The Asian markets will tumble as the once-mighty Chinese economy begins its slowdown.
And underneath it all, behind the headlines and out of sight of a largely apathetic public, more schemes, scams, and frauds will be hatched, many in the plain light of day because this is how rampant the corruption is now.
And yet, in at least one tiny island nation way out in the North Atlantic, a special prosecutor is arresting bankers and raiding the central bank for clues to past financial crimes. We ignore that example at our own peril.
Corbett@CorbettReport.com
CorbettReport.com
US MARKETS
The Following written by Matt Gillotti
For the International Forecaster
On Wednesday Federal Reserve chairman Ben Bernanke said that a failure by Congress and the White House to effectively deal with the so-called fiscal cliff could significantly damage the US economy. As Bernanke spoke to reporters he warned that uncertainty surrounding the combination of expiring tax cuts and mandatory spending reductions set to take place at year’s end could cause a significant drag on US growth. Bernanke also said, “Financial Markets don’t like uncertainty.” The policy makers’ ability or more often inability to address the coming fiscal problems could severely affect key elements in our economic growth looking forward. With it being an election year the usual political jockeying that accompanies it is causing concern as to whether Congress and the White House will be able to come to an agreement.
As we see now the Federal Reserve has extended operation twist through the end of 2012 in what the Federal Reserve officials say they interpreted as heightened worries over the economy, as if prior to the extension of operation twist our economic standing was all peaches and cream. Along with extending the program and shifting their holdings toward longer term securities the US Federal Reserve officials noted that they are prepared to take further action if need be. As within the past the Fed’s most likely follow up action in which they will try to sure up the consistently floundering US economic recovery will be another bond buying program. With eleven out of twelve Fed officials voting to keep the central bank’s easy money policies in place the Fed as it has said since January that it will keep short term interest rates at exceptionally low levels through at least 2014. Here again we get to see more of the same from our highly trusted Federal Reserve officials in their continued efforts to prop up our extremely dysfunctional economy. With the extension of operation twist the Fed is expecting to buy and sell about $267 billion in treasuries, as they conveyed concerns over the economies weaker than expected economic data noting slowed growth in unemployment an elevated unemployment rate slower overall household spending than originally thought. The Fed through all its actions is still unable to ensure confidence amongst its citizens, which is the glue that holds together a fiat currency economy.
The US foreclosure activity increased by 9 percent in May, exceeding 200,000 for the first time in three months according to RealtyTree the leading online marketplace for foreclosure properties. The May 2012 foreclosure report covering foreclosure filings, default notices, scheduled auctions and bank repos, of the 205,990 US properties reported a nine percent increase from April was unveiled yet still down four percent for the same month in 2011. The report also showed that one of every 639 US housing units had a foreclosure filing for the month of May. As Brandon Moore CEO of RealtyTree was quoted as saying that the US foreclosure activity has now decreased on a year over basis for twenty straight months including May, but the jump in May foreclosures starts to show that it’s going to be a bumpy ride down to the bottom of this foreclosure cycle. With distressed homeowners still loosing their homes the pre-foreclosure home sales by the means of short sales and auctions to third party purchasers rather than the banks having to take over, maintain and manage the property along with marketing it for sale has helped the banks somewhat minimize their looses. Either way you look at it though the housing market is still more than “bumpy” and homeowners have still lost their homes due greatly in part to the continued poor economic status and rising unemployment here in the US. As we look forward at the US economic crisis along with high unemployment with the number being more realistically around 22 percent compounded by inflation it is hard not to see that these combined issues will not still be the straw that breaks the back of many a struggling American homeowner whose daily fight to keep their head above water will end in foreclosure.
In a recently released government report concerning loss of family wealth due to the recession the hardest hit age group were the younger households with an average age of 35 to 44 losing almost 60 percent of their wealth, with this age group struggling with mortgages, school tuition, and rising taxes. The US Census Bureau reported that the group aged 35 to 44 was the hardest hit of any age group. This beaten down bracket of young homeowners makes up a great majority of the middle class, with their biggest asset being their home and the huge drop in home values since 2005 it seems that this is the root cause of the high percentage of lost wealth. Although the percentage for older Americans, those 65 and older fared better with a net worth loss of thirteen percent over a five year period it is still a big pill to swallow considering the lost net worth due to fallen home values is beyond ones normal controls.




Dimon Spars With Lawmakers In U.S. House Hearing
J.P. Morgan Chase & Co. (JPM) Chief Executive James Dimon sparred with lawmakers of both parties Tuesday, as an appearance in the U.S. House proved far more contentious than one in the Senate last week.
Mr. Dimon faced tough questions about the bank's lobbying on derivatives rules, risk models and on whether the bank is so large and complex that it would be rescued by the government if it were to fail. Several lawmakers accused Mr. Dimon of being more focused on trading activities than on lending to consumers.
In response to questions from Rep. Sean Duffy (R., Wisc.), Mr. Dimon insisted J.P. Morgan wasn't too big to fail. Mr. Dimon said he didn't expect the bank to fail, but that if it did, that the bank would be dismantled. Any losses to the government should be charged back to the industry, he said.
Mr. Duffy tried to pin Mr. Dimon down on the size of the loss caused by the multi-billion dollar trading blunder disclosed last month, asking if it was fair to say that the loss was over half a trillion dollars or a trillion dollars.
"Not unless the earth is hit by a moon," Mr. Dimon said.
Rep. Maxine Waters (D., Calif.) pressed Mr. Dimon about the bank's opposition to a proposal for all trades made by U.S. banks, even those booked offshore, should be included under new rules. Mr. Dimon said that proposal would harm the bank's ability to compete overseas. The bank's customers "will go elsewhere if we can't give them the best possible deal," he said.
He defended the bank's lobbying activities as a "constitutional right," adding that "we have the right to have our voice heard"
Earlier in the day, bank regulators criticized a lack of risk disclosure at J.P. Morgan as hampering efforts to prevent the recent multibillion-dollar trading losses.
Comptroller of the Currency Thomas Curry on Tuesday told a House of Representatives hearing that the regulator is probing the level of reporting provided by J.P. Morgan's Chief Investment Office, the unit responsible for the bank's trading losses disclosed last month.
"In hindsight, if the reporting were more robust or granular, we believe we may have had an inkling of the size, the potential complexity, the risk of the position," Mr. Curry said. "What we're looking at on a prospective basis is to make sure there's a robustness to the reporting" and risk management, he said.
Mr. Curry acknowledged that the OCC only became concerned about J.P. Morgan's trading activities after press reports on the trades were published in early April.
The Federal Reserve's general counsel, Scott Alvarez, said that J.P. Morgan's managers "didn't have a good handle on the information and the understanding of the risk. Mr. Alvarez added that "we have to rely on the information that we get from the management of the organization."
Rep. Spencer Bachus (R., Ala.) the panel's chairman, said the J.P. Morgan trades highlight weaknesses in the current structure of financial regulation, which he called overly complicated. "Sitting before us today are five different regulators, all of whom have some supervisory responsibility over these trades and several of whom have examiners embedded at J.P. Morgan, but none of whom, apparently, was either aware of the bank's hedging strategy or raised concerns about it," he said.
Mr. Bachus also highlighted the need for banks to have strong capital cushions to absorb losses. "The most important lesson is how central capital is to the safety and soundness of individual banks and our overall financial system."
Rep. Barney Frank (D., Mass.), the panel's top Democrat, said the losses underscore the need for tough regulation of derivatives and criticized efforts by Republicans to roll back the Dodd-Frank financial overhaul law that bears his name. J.P. Morgan was able to withstand the losses, he said, but noted that many institutions aren't as strong.
"Not every institution has a fortress balance sheet," Mr. Frank said, echoing Mr. Dimon's often-stated description of his bank's finances. "Some institutions may have a picket-fence balance sheet or a chain-link fence balance sheet."
Beyond J.P. Morgan, Republican and Democratic lawmakers traded barbs about how each side responded to the financial crisis, years before the bank's losses. Rep. Scott Garrett (R., N.J.), scolded Democrats for having "no shortage of outrage" about the "London Whale" losses, but few complaints about the taxpayer rescue of mortgage giants Fannie Mae and Freddie Mac, or over loan guarantees given to bankrupt solar panel manufacturer Solyndra LLC. Rep. Michael Capuano (D., Mass.) shot back, "You must have missed the hearings that made me a movie star, Mr. Garrett."
Democrats blasted Republicans for trying to roll back Dodd-Frank, passed in 2010 in the aftermath of the financial crisis, while Republican lawmakers said they would direct their criticism at the banking regulators.
Gary Gensler, chairman of the Commodity Futures Trading Commission, said the J.P. Morgan losses highlight the need for the commodities regulator to have authority over U.S. institutions' overseas derivatives activities. "Failing to do so would mean American jobs and markets would likely move offshore, but, particularly in times of crisis, risk would come crashing back to our economy," Mr. Gensler said.

The high cost of personal safety | Marketplace.org

The high cost of personal safety | Marketplace.org:

'via Blog this'

Rick Santelli: This Week in Europe - YouTube

Rick Santelli: This Week in Europe - YouTube

Come and Getcha Some Gulf Seafood,Ya'll ! - YouTube

Come and Getcha Some Gulf Seafood,Ya'll ! - YouTube

Fast and Furious is a Disgrace - YouTube

Fast and Furious is a Disgrace - YouTube:

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An Interview with Rolling Stone Reporter Michael Hastings

An Interview with Rolling Stone Reporter Michael Hastings:

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Friday, June 22, 2012

House bill extends TSA intel sharing to mass transit - FederalNewsRadio.com

House bill extends TSA intel sharing to mass transit - FederalNewsRadio.com

Egypt’s military warns Muslim Brotherhood - FT.com

Egypt’s military warns Muslim Brotherhood - FT.com

Forkless Friday at Obama event

Forkless Friday at Obama event

Tesla Motors introduces all-electric sedan | Marketplace.org

Tesla Motors introduces all-electric sedan | Marketplace.org:

'via Blog this'

Robert D. Kaplan on Humanitarian Aid in Syria (Agenda) - YouTube

Robert D. Kaplan on Humanitarian Aid in Syria (Agenda) - YouTube

Mish's Global Economic Trend Analysis: Lagarde Shows True Colors

Mish's Global Economic Trend Analysis: Lagarde Shows True Colors

War or Revolution Every 75 Years. It’s Time Again. | Brave New World

War or Revolution Every 75 Years. It’s Time Again. | Brave New World

Isaac Chotiner: The Curse Of Knowledge: A Review Of Jonah Lehrer's "Imagine: How Creativity Works" | The New Republic

Isaac Chotiner: The Curse Of Knowledge: A Review Of Jonah Lehrer's "Imagine: How Creativity Works" | The New Republic

Understanding the European Crisis | The Big Picture

Understanding the European Crisis | The Big Picture

Homeowners to receive up to $125,000 for foreclosure abuses | Economy Tracker - Home

Homeowners to receive up to $125,000 for foreclosure abuses | Economy Tracker - Home:

'via Blog this'

2011 was best in 5 years for banking sector | Investigative Reporting Workshop

2011 was best in 5 years for banking sector | Investigative Reporting Workshop

Mish's Global Economic Trend Analysis: Nigel Farage: "EC president Jose Barroso is a Delusional Idiot, The Whole Thing's a Giant Ponzi Scheme!"

Mish's Global Economic Trend Analysis: Nigel Farage: "EC president Jose Barroso is a Delusional Idiot, The Whole Thing's a Giant Ponzi Scheme!":

'via Blog this'

HR 5736 – A Bill to Establish An Orwellian Truth Ministry | Independent Sentinel

HR 5736 – A Bill to Establish An Orwellian Truth Ministry | Independent Sentinel:

'via Blog this'

Mish's Global Economic Trend Analysis: New Democracy Leader "Will Honour Commitments to the EU; Euro Trades Higher; Coalition Review

Mish's Global Economic Trend Analysis: New Democracy Leader "Will Honour Commitments to the EU; Euro Trades Higher; Coalition Review

Sides lining up for UN Internet plan | Marketplace.org

Sides lining up for UN Internet plan | Marketplace.org

Retiring Dem: 'The People Have Gotten Dumber' | The Weekly Standard

Retiring Dem: 'The People Have Gotten Dumber' | The Weekly Standard

Unlike the 2,000-Death Count in Iraq, ABC, NBC, PBS, MSNBC Skip 2,000 Marker in Afghanistan | NewsBusters.org

Unlike the 2,000-Death Count in Iraq, ABC, NBC, PBS, MSNBC Skip 2,000 Marker in Afghanistan | NewsBusters.org

Deadly standoff ends at Afghan hotel; hostages freed after several hours - CNN.com

Deadly standoff ends at Afghan hotel; hostages freed after several hours - CNN.com

Romney Exhibits a Change in Tone on Immigration - NYTimes.com

Romney Exhibits a Change in Tone on Immigration - NYTimes.com

The Pursuit of Happiness (part 2 of 2) Q&A

Students Passed with Failing Grades and the TSA too - YouTube

Students Passed with Failing Grades and the TSA too - YouTube

Financial Armageddon: A Bloody Taste

Financial Armageddon: A Bloody Taste

Research Shows That the Smarter People Are, the More Susceptible They Are to Cognitive Bias : The New Yorker

Research Shows That the Smarter People Are, the More Susceptible They Are to Cognitive Bias : The New Yorker

Counting on an Inheritance? Count Again. | The Big Picture

Counting on an Inheritance? Count Again. | The Big Picture

Succinct Summation of Week’s Events (6.15.12) | The Big Picture

Succinct Summation of Week’s Events (6.15.12) | The Big Picture

Thursday, June 21, 2012

Ron Paul on intervention in Syria (19 June 2012 speech) - Ron Paul sulla Siria (ENG/ITA) - YouTube

Ron Paul on intervention in Syria (19 June 2012 speech) - Ron Paul sulla Siria (ENG/ITA) - YouTube

Mish's Global Economic Trend Analysis: Sacramento "Teacher of the Year" Laid Off; Who is to Blame?

Mish's Global Economic Trend Analysis: Sacramento "Teacher of the Year" Laid Off; Who is to Blame?

ROMES REVENGE 1/3 (Cultural Collaspe Series Pt.6A) - YouTube

ROMES REVENGE 1/3 (Cultural Collaspe Series Pt.6A) - YouTube

About YAL - YouTube

About YAL - YouTube

Are Syria's Rebels Getting Foreign Support? | Stratfor

Are Syria's Rebels Getting Foreign Support? | Stratfor

US Political, Financial & Business News | FT.com

US Political, Financial & Business News | FT.com:

'via Blog this'

Beloved bugle call turns 150 | The American Legion

Beloved bugle call turns 150 | The American Legion

Why Republicans Oppose the Individual Health-Care Mandate : The New Yorker

Why Republicans Oppose the Individual Health-Care Mandate : The New Yorker:

'via Blog this'

ITAR-TASS : US Senate Foreign Relations Committee won’t vote on Magnitsky Act Tuesday

ITAR-TASS : US Senate Foreign Relations Committee won’t vote on Magnitsky Act Tuesday

Verichip Corp. RFID Microchip - First Official TV Commercial on Vimeo

Verichip Corp. RFID Microchip - First Official TV Commercial on Vimeo

The 2012 Mexican Presidential Election (Dispatch) - YouTube

The 2012 Mexican Presidential Election (Dispatch) - YouTube:

'via Blog this'

Bob Chapman RIP


We would like to continue to thank all of our subscribers and friends for their support and condolences and flowers that were sent.       Judy, Jeni, Matt and Robby 
The Legacy of Bob Chapman
by James Corbett
June 9, 2012
It was with exceptionally heavy hearts that we learned earlier this week of the passing of Robert John Chapman, the publisher and author of The International Forecaster.
Although in recent years he has come to be best known as the publisher of the Forecaster, throughout his life he wore many hats: U.S. Army Counterintelligence officer in post-war Europe, stockbroker, economic and financial analyst, writer, publisher and owner of The Gary Allen Report, and, perhaps most importantly, loving husband and beloved father and grandfather. The success which Bob met in his professional life, retiring as the world's largest silver and gold stockbroker in 1988, was a reflection of those skills and talents which served him well in all aspects of his life: his quick wit and sharp intelligence: his curiosity, humility and empathy; and that enthusiasm and devotion to his work which drove him to spend his retirement waking up before the crack of dawn each morning so he could get a jump on the markets, giving radio interviews, writing his newsletter, and responding personally to each email he received.
Certainly for all of these reasons, Bob will be sorely missed by all of those family, friends, readers, listeners, and fans around the world who have grown so used to his commentary on all the latest news that it is only beginning to dawn what a loss we are facing. I cannot presume to state which of those categories I would fall in, having been a fan, a listener and a reader of Bob before having the privilege of interviewing him on The Corbett Report in the final years of his life, but in whatever role Bob played in my own life, the loss is acute.
During the short course of The Corbett Report, there have been the loss of other giants in the struggle for liberty. Those like Aaron Russo, who put their lives, money and reputation on the line to stick up for what they knew to be right. But never have I seen the outpouring of love and appreciation for a single figure as I have for Bob Chapman, a man who won that respect from the scores of people around the globe whom he went out of his way to help. The emails have poured in over the years from those supporters of Bob who have shared their personal anecdotes. A businessman who followed Bob's investment advice years ago and made a fortune as a result, and who works to use that money helping others. A pensioner and retiree who wrote to Bob asking for help structuring his investments who ended up getting a half hour phone call in which Bob answered all of his questions. The many others who never met or spoke to Bob, but learned so much through his insightful commentary on radio programs around the world. The stories are those of individuals, but in the aggregate it's impossible to tell how many tens of thousands of lives have been effected by Bob's work.
A common thread running through much of the praise for Bob is that he was a man of keen understanding. “The International Forecaster” was more than a moniker; it was an apt description of a man who time and again knew where the markets were heading, sensed which way the political winds were blowing, and helped others to find shelter from those winds.
In the 1960s, long before most Americans were aware of the corruption and ill intentions of the political elite that is so evident today, began writing on social, political and economic matters, sounding the alarm about the elite agenda of world government and the loss of liberties it would bring. Sadly, these warning were not heeded at the time, and the intervening decades have amply demonstrated that those very problems he foresaw have largely come to pass.
In 2004 he was warning about an imminent housing collapse and urging people to get out of debt. He foresaw the bubble popping in 2006 or 2007. Once again, he was unfortunately proven right.
In later years, he warned of the flaws inherent in the entire European Union enterprise. Noting that the amalgamation was a pipe dream that could never work in reality, the world looked on in surprise as the Euro began to disintegrate in the wake of the sovereign debt crisis. But those who had learned to listen to Bob were hardly surprised at all.
He noted the true cost of the bailout in the trillions when the media was still reporting $700 billion. He noted the inevitability of QEII before the rest of the economic world was even considering it. He pooh-poohed the Iran war rhetoric of last winter as saber rattling. In all these cases and many many more, he was right.
But it is not merely the fact that he was so often right that led him to be cherished by so many. He was also quick to admit when he didn't know or couldn't predict what was coming. Whether the time frame of the dollar collapse or the possibility of war with Syria or the bigger picture of whether the elite would achieve their goal of world government, Bob was always quick to admit that he didn't know instead of blustering through an answer as many others would have done.
For all of these reasons, Bob's insight, commentary and advice was cherished by his many fans throughout the world. But although his professional life revolved around stocks, finances, and the economic world, in the final accounting of Bob Chapman the man, that life is not reducible to mere facts, dates or numbers. Bob was also a family man, a friend, a neighbour, and there were many aspects of his personal life that many of us will never know.
I was lucky enough to have encountered Bob in 2009, when I first invited him on as a guest on The Corbett Report. Despite knowing (I presume) nothing about myself or the program, Bob was quick to respond that he would be happy to be on despite his already massive workload. From that point we began a series of monthly interviews that turned into a weekly interview. I can attest from much of the feedback that I have received over these past few years that my conversation with Bob Chapman was eagerly anticipated by many of my listeners, and of course like them, I looked forward each week to my chance to pick the brain of this giant of the patriot movement and this keen mind.
In our time together both on and off air, I began to get to know Bob Chapman the man. From the beginning it was evident that our collaborations were greater than the sum of our parts, and before long Bob had taken me under his wing, putting in kind words for me with various contacts and ultimately helping to secure me my radio program on Republic Broadcasting. In the final few months of his life as the stress of dealing with his cancer began to overwhelm him, I was honored and humbled to be asked to begin writing for The Forecaster. I know that I will never be able to take the place of a colossus like Bob Chapman, but I will forever be grateful that he had the magnanimity to offer me the chance to contribute to the newsletter, and it is a responsibility I hope to be able to live up to as the newsletter continues on under the auspices of his daughter.
In the end, it is perhaps most saddening to know that I never had the chance to meet Bob Chapman in person, situated as we were in different hemispheres of the globe, but it was my honor and privilege to share some of the last years of his life with him on air, helping to spread the information to the masses as he had spent much of his life doing. In the end, the legacy that Bob left is that knowledge, wisdom and kindness that he imparted to so many of us, and the greatest honor we could do to that legacy is to carry on with this work, exposing the information that needs to be exposed, warning the public about those unpopular truths that Bob spent his life bringing to light.
It is a heavy burden to bear, but that burden is lightened considerably by the fact that we are standing on the shoulders of a giant like Bob Chapman.

US AND EUROPEAN MARKETS
THE FOLLOWING EDITORIAL IS BY CONTRIBUTOR JAMES CORBETT OF THE CORBETT REORT:
Markets Price in Spailout and Grexit
by James Corbett
InternationalForecaster.com
June 16, 2012
You've heard of the dead cat bounce. How about the dying cat bounce?
This is essentially what happened on Thursday afternoon, with the Dow up 1.24% on the day, the S&P up 1.08% and the energy sector in particular up 1.7%. As of press time on Friday, European markets were also up across the board, from the DAX up 0.5% to the CAC up 0.7% and the FTSE up 0.4%. Were the markets responding to positive manufacturing numbers? Nope. Hopeful employment statistics? Uh-uh. A new agreement that satisfies all parties at the Eurozone table? Fat chance. No, markets were pricing in the funny money that central banks across the globe have promised to flood the system with in the event of the next stage of the Euro collapse.
That's right, just like a junkie responding to the promise of his next hit, the markets are perking up at the prospect of the billions in liquidity that will be injected into the system if and when Greek voters decide to tell the EU and IMF where to stick their bailout agreement and its austerity conditions. This is yet another demonstration of the elementary concept of inflation, with the markets merely pricing in the likely consequences of fresh streams of hot-off-the-press central bank funds finding its way into the stock market. More money chasing the same amount of goods means that money is worth less, and the price of everything, stocks included, will go up. But since the public has been taught to see the markets in simplistic terms (green means healthy economy, red means economic trouble), the bought-and-paid-for talking heads in the financial press will spin this as a positive sign that the Eurozone crisis is “stabilizing” and that the markets are reflecting investor “positivity” about the G20's ability to meet whatever problems are on the horizon.
As always, the real devil is in the details. The uptick comes on the heels of news that country after country is already planning for the Eupocalypse: the BOE has promised 100 billions pounds for the British banking system; Bernanke has made comments suggesting Operation Twist may be extended at the Fed's meeting next week or QE3 may finally begin in earnest (as this publication has been predicting for months); the BOJ is set to keep its monetary policy unchanged, but have their 40 trillion yen asset-buying scheme up their sleeve, a program they can expand if an injection of liquidity is needed. An anonymous G20 official has now been quoted as saying that central bankers around the world are preparing for coordinated actions in the event of a crash.
The worries center on Greece, which sees its much-anticipated election take place this Sunday. The political and banking establishment are terrified that Alexis Tsipras and his hard left Syriza party will break the political deadlock in the wake of May's indecisive election and take charge of the Greek parliament. Syriza has promised to put a halt to EU/IMF-mandated austerity programs if it gets into office, and the specter of a Greek pullout from the Euro has been raised. This is anathema to the Brussels Eurocrats who realize its getting harder to paint their EU pipe dream as the land of milk and honey they so desperately want people to believe it is. This is also, of course, the perfectly predictable result of throwing together dozens of historically distinct economies, peoples and cultures in a haphazard union without so much as giving them a vote on the matter. You cannot tie sinking ships like Greece, Italy and Ireland to the S.S. Germany and hope that the whole mess will stay afloat forever. Instead, in the memorable words of UKIP MEP Nigel Farage, “the Euro titanic has now hit the iceberg and sadly there simply aren't enough lifeboats.”
But the Grexit is itself being complicated by the Spailout. After weeks of ineffectual, blatantly false reassurances that Spain wouldn't need a bailout at all, the Spanish government went cap-in-hand to the EU mafia to muster up 100 billion Euros to shore up its banking system. The problem? That's not nearly enough, and everyone knows it. The Spanish banking system is in dire straits and will require closer to 400 billion Euros to prevent collapse, and the 100 billio stopgap measure isn't fooling anyone, least of all investors. So after a dead cat bounce that lasted literally a few hours after the bailout announcement, markets plunged once again last Monday. The other problem? Unlike Greece, Ireland, or other economies on the financial periphery of the Eurozone economy, Spain cannot fail. If Spain defaulted or suffered a banking sector collapse, it is large enough to take the rest of Europe with it. The other other problem? The bailouts do nothing to solve the underlying problem. As Spain cracks the 7% barrier for its 10 year treasuries, all the 100 billion Euro recapitalization does is shift the burden from the banks to the government, and, ultimately, puts the people on the line for the sins of the banksters (where have we heard that before?). The other other other problem? The Spanish bailout came with no austerity strings attached, giving the Greeks even further leverage to renegotiate their own bailout.
None of this makes the Grexit a foregone conclusion, though. The latest news as of press time is that Greek bank stocks are soaring ahead of Sunday's election. This means one of three things: investors are trading on secret polls (Greek law prevents the publishing of poll outcomes ahead of the election) showing the pro-bailout centrists in the lead; investors are running a pump and dump on the markets, trying to convince others that the centrists are in the lead so they can dump at the market top ahead of a Syriza win; or investors are trying to convince the markets (and the public) that the centrists will win as a way of swaying voter sentiment ahead of the election. Given the efficacy of the centrist parties in recent weeks in playing on public jitters about exiting the Euro, it seems most likely that some centrist faction or coalition willing to play ball with Berlin will come to power, but no matter what government is formed, Greece will continue to be a basket case for the foreseeable future. Another summer of rage on the streets of Athens is a distinct possibility.
Meanwhile the French are back to the polls this weekend as well, this time for their second round of voting in the parliamentary elections. Given first round results, the possibility of the Socialists taking an absolute majority is still on the table, and a Socialist-Green coalition majority is almost certain, barring some major upset. This sets up newly-elected President Hollande to be in one of the strongest positions of any of the European leaders, and confirms the right turn that Europe appears to be making from Eurocratic austerity to Eurocratic Keynesianism. As we pointed out before, the same EU agenda underlies both mindsets, so the prospect of jointly-issued Eurobonds for infrastructure projects or greater powers for the EU bailout mechanism cannot be seen as a true threat to the system. Quite the contrary. The Eurocrats and banksters are set to win either way.
Meanwhile in the US, Obama has been raked over the coals for his observation that the private sector is “doing fine,” and rightfully so. Despite clarifications and backpedalling after the fact, Americans know that the Teleprompter-in-Chief has no understanding of the economy, and wouldn't understand it even if he had the relevant statistics at his disposal, which he doesn't. Official unemployment is at 8.2%; actual unemployment is over 22%. Official CPI is 1.7%; actual CPI is over 5%. The books are cooked and the political puppets are just there as window dressing for these pie in the sky fairy tales.

CNN Admits Ron Paul Might Be The Man America Needs!!! Oh My GOD. - YouTube

CNN Admits Ron Paul Might Be The Man America Needs!!! Oh My GOD. - YouTube

Going Nuclear: What is the Future of Nuclear Energy in the U.S? | Fairewinds Energy Education

Going Nuclear: What is the Future of Nuclear Energy in the U.S? | Fairewinds Energy Education:

'via Blog this'

Wednesday, June 20, 2012

Will Michigan Nullify NDAA “Indefinite Detention?” – Tenth Amendment Center Blog

Will Michigan Nullify NDAA “Indefinite Detention?” – Tenth Amendment Center Blog:

'via Blog this'

Update on the court case. - YouTube

Update on the court case. - YouTube

"Give Me Liberty or Give Me Death" - YouTube

"Give Me Liberty or Give Me Death" - YouTube

Nuclear Negotiations and Sanctions on Iranian Oil (Dispatch) - YouTube

Nuclear Negotiations and Sanctions on Iranian Oil (Dispatch) - YouTube:

'via Blog this'

Slideshow: U-6 Unemployment Rate by State - YouTube

Slideshow: U-6 Unemployment Rate by State - YouTube

Politicians Want Men to Urinate Sitting in Sweden?! And More Soda Bans - YouTube

Politicians Want Men to Urinate Sitting in Sweden?! And More Soda Bans - YouTube

Sen. Rand Paul's Floor Statement On Utility MACT - 06/20/12 - YouTube

Sen. Rand Paul's Floor Statement On Utility MACT - 06/20/12 - YouTube

Eric Holder contempt vote: House panel moves against attorney general - POLITICO.com

Eric Holder contempt vote: House panel moves against attorney general - POLITICO.com

Yaron Answers: Should Government Finance Basic Research? - YouTube

Yaron Answers: Should Government Finance Basic Research? - YouTube

House Committee Approves Sweeping, Warrantless Electronic Spy Powers | Threat Level | Wired.com

House Committee Approves Sweeping, Warrantless Electronic Spy Powers | Threat Level | Wired.com

City of Tulsa, Oklahoma, destroys woman's edible landscaping with over 100 varieties of medicinal plants

City of Tulsa, Oklahoma, destroys woman's edible landscaping with over 100 varieties of medicinal plants

Kan. man gets 2 years for threat to kill president | Local News - KMBC Home

Kan. man gets 2 years for threat to kill president | Local News - KMBC Home

Friday, June 15, 2012

George Friedman on Europe's New Reality (Agenda) - YouTube

George Friedman on Europe's New Reality (Agenda) - YouTube

Jerry Brown's Not-Impossible State Budget Dream -

Jerry Brown's Not-Impossible State Budget Dream -:

'via Blog this'

Home - Lone Flame News

Home - Lone Flame News

Jesse's Café Américain: Blaming the Victim and Other Biases and Their Use by the Predator Class To Subvert the Unwary

Jesse's Café Américain: Blaming the Victim and Other Biases and Their Use by the Predator Class To Subvert the Unwary

Some cry 'coup' as Egypt's highest court annuls parliament, military extends power - CNN.com

Some cry 'coup' as Egypt's highest court annuls parliament, military extends power - CNN.com

Egyptian Revolt’s Leaders Count Their Mistakes - NYTimes.com

Egyptian Revolt’s Leaders Count Their Mistakes - NYTimes.com:

'via Blog this'

Apple’s MacBook Pro Is Just One Point Short of Perfection - State of the Art - NYTimes.com

Apple’s MacBook Pro Is Just One Point Short of Perfection - State of the Art - NYTimes.com:

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'Dark Angel' and the Mexican Meth Connection | Stratfor

'Dark Angel' and the Mexican Meth Connection | Stratfor

Slideshow: Jobless Claims Week Ending June 9 2012 - YouTube

Slideshow: Jobless Claims Week Ending June 9 2012 - YouTube

U.S. Government blocks sales of fuel-efficient cars

U.S. Government blocks sales of fuel-efficient cars

Mish's Global Economic Trend Analysis: "It's Not the Situation Room" Says Spain After holding Emergency Cabinet Meeting

Mish's Global Economic Trend Analysis: "It's Not the Situation Room" Says Spain After holding Emergency Cabinet Meeting:

'via Blog this'

Tough Talk Is Cheap | Foreign Affairs

Tough Talk Is Cheap | Foreign Affairs

President Obama’s Speech Gets A Thumbs Down From Political Press Corps | Politicker

President Obama’s Speech Gets A Thumbs Down From Political Press Corps | Politicker

*Listen to Fukushima Special* 1st Hour Guest Arnie Gundersen: When someone steps forward and publishes, we’re going to see higher radioactivity levels in California bluefin tuna (VIDEO)

*Listen to Fukushima Special* 1st Hour Guest Arnie Gundersen: When someone steps forward and publishes, we’re going to see higher radioactivity levels in California bluefin tuna (VIDEO):

'via Blog this'

Bailout in Spain Leaves Taxpayers Liable for the Cost - NYTimes.com

Bailout in Spain Leaves Taxpayers Liable for the Cost - NYTimes.com:

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Charting the Cozy Connections between JP Morgan and the Senate Banking Committee - ProPublica

Charting the Cozy Connections between JP Morgan and the Senate Banking Committee - ProPublica

German Police Raid Extremists for Intelligence (Dispatch) - YouTube

German Police Raid Extremists for Intelligence (Dispatch) - YouTube

Keiser Report: Con Games Go Global - YouTube

Keiser Report: Con Games Go Global - YouTube

LP Solutions: Banish Big Government From the Mortgage Business - YouTube

LP Solutions: Banish Big Government From the Mortgage Business - YouTube:

'via Blog this'

Interview with Shah Gilani

Interview with Shah Gilani:

'via Blog this'

Senator Rand Paul At CPAC Chicago - 06/08/12 - YouTube

Senator Rand Paul At CPAC Chicago - 06/08/12 - YouTube

Legion applauds DoD review of PTSD cases | The American Legion

Legion applauds DoD review of PTSD cases | The American Legion

Why the Financial Industry is the Ultimate Liar’s Club | Shah Gilani's Wall Street Insights and Indictments

Why the Financial Industry is the Ultimate Liar’s Club | Shah Gilani's Wall Street Insights and Indictments:

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Thursday, June 14, 2012

5 Ways to Avoid the “Spailout” and Sleep Soundly at Night - Money Morning

5 Ways to Avoid the “Spailout” and Sleep Soundly at Night - Money Morning

5 Ways to Avoid the “Spailout” and Sleep Soundly at Night - Money Morning

5 Ways to Avoid the “Spailout” and Sleep Soundly at Night - Money Morning

Let's Admit It: The US Is at War in Yemen, Too | Danger Room | Wired.com

Let's Admit It: The US Is at War in Yemen, Too | Danger Room | Wired.com

The VA Backlog Keeps Getting Worse - Businessweek

The VA Backlog Keeps Getting Worse - Businessweek

Mish's Global Economic Trend Analysis: German Vote on ESM Fails; Still Not Ratified by Germany, Austria, Belgium, Estonia, Slovakia, Netherlands; Political Football Over Financial Transaction Tax

Mish's Global Economic Trend Analysis: German Vote on ESM Fails; Still Not Ratified by Germany, Austria, Belgium, Estonia, Slovakia, Netherlands; Political Football Over Financial Transaction Tax

Financial Armageddon: Here and Abroad

Financial Armageddon: Here and Abroad

Slideshow: State GDP as Percent US GDP - YouTube

Slideshow: State GDP as Percent US GDP - YouTube

Wednesday, June 13, 2012

News from The Associated Press

News from The Associated Press

Incredibly Scary Amusement Park Ride - YouTube

Incredibly Scary Amusement Park Ride - YouTube:

'via Blog this'

Russia's Role in U.S. Intervention in Syria (Dispatch) - YouTube

Russia's Role in U.S. Intervention in Syria (Dispatch) - YouTube

Sen. Rand Paul on the Fox Report - 06/12/12 - YouTube

Sen. Rand Paul on the Fox Report - 06/12/12 - YouTube

Is Tata Motors (NYSE: TTM) the New GM? - Money Morning

Is Tata Motors (NYSE: TTM) the New GM? - Money Morning:

'via Blog this'

Where is the Outrage? – Tenth Amendment Center

Where is the Outrage? – Tenth Amendment Center

Volunteer – Tenth Amendment Center

Volunteer – Tenth Amendment Center

Sen. Rand Paul Addresses Reforming the Food Stamp Program - 06/13/12 - YouTube

Sen. Rand Paul Addresses Reforming the Food Stamp Program - 06/13/12 - YouTube

Bloomberg Proposes Ban on All Yummy Foods, While Obama's Support Dwindles - YouTube

Bloomberg Proposes Ban on All Yummy Foods, While Obama's Support Dwindles - YouTube

THE REAL TRUTH ABOUT SPAINS $100,000,000,000 PROBLEM - YouTube

THE REAL TRUTH ABOUT SPAINS $100,000,000,000 PROBLEM - YouTube:

'via Blog this'

Holder Leaks and Bailoits - YouTube

Holder Leaks and Bailoits - YouTube

Joy Behar Wants to See Romney's House Burn Down: 'Who's He Going to Call, the Mormon Fire Patrol?' | NewsBusters.org

Joy Behar Wants to See Romney's House Burn Down: 'Who's He Going to Call, the Mormon Fire Patrol?' | NewsBusters.org

How tiny Finland could bring euro crisis to end - Matthew Lynn's London Eye - MarketWatch

How tiny Finland could bring euro crisis to end - Matthew Lynn's London Eye - MarketWatch

small+business+ease.png (609×334)

small+business+ease.png (609×334)

Mish's Global Economic Trend Analysis: "Dead Before Arrival": Bundesbank Shoots Down EU Banking-Union Proposal; Eight Lessons the EU Needs to Learn

Mish's Global Economic Trend Analysis: "Dead Before Arrival": Bundesbank Shoots Down EU Banking-Union Proposal; Eight Lessons the EU Needs to Learn:

'via Blog this'

OBITUARY: Global Research Contributor, Distinguished Financial Analyst Bob Chapman

OBITUARY: Global Research Contributor, Distinguished Financial Analyst Bob Chapman:

'via Blog this'

Tuesday, June 12, 2012

Sums up the budget

 BRILLIANTLY EXPLAINED.
 

 
This rather brilliantly cuts thru all the political doublespeak we get.
It puts it into a much better perspective.

Lesson # 1:

 
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let's now remove 8 zeros and pretend it's just a household budget:

 
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far:
$38.50
 

Got It ?????

Rating agencies don't have to lie to be liable

Rating agencies don't have to lie to be liable