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Monday, August 31, 2009
So Fresh and So Clean.
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What Fed-Audit Legislation Would Mean......
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The Fed's Interesting Week.............
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U.S. ranks 28th in Internet speed...........
When it comes to Internet speed, the U.S. remains far down the ladder of industrialized nations, ranking 28th behind leaders South Korea, Japan, Sweden and Holland, according to a study by a labor union for telecommunications workers. Using data gathered from Speed Matters, a site that promotes greater Internet speeds, the Communications Workers of America compiled a list of broadband speeds in U.S. states and territories and came up with the average speed for the nation -- 5.1 megabits per second. That's a quarter of South Korea's 20.4 megabits and about a third of Japan's 15.8 megabits...Link
57% Would Like to Replace Entire Congress.
If they could vote to keep or replace the entire Congress, just 25% of voters nationwide would keep the current batch of legislators. A new Rasmussen Reports national telephone survey finds that 57% would vote to replace the entire Congress and start all over again. Eighteen percent (18%) are not sure how they would vote...Link
$14 billion on turmoil loans.................
LONDON (Reuters) – The Federal Reserve has made $14 billion in profits on loans made in the last two years, The Financial Times reported on Monday, citing officials close to the matter. The U.S. central bank also earned about $19 billion from interest and fees charged to institutions that tapped liquidity facilities during the global financial crisis, the report said...Link
Compromise..........I say NO.
WASHINGTON (Reuters) – Rep. Barney Frank, the chairman of the U.S. House of Representatives Financial Services Committee, hopes to craft a compromise bill with lawmakers who want to open Federal Reserve monetary policy decisions to audits, a spokesman for Frank said on Saturday. A bill sponsored by Texas Republican Rep. Ron Paul that would allow the Government Accountability Office, a federal watchdog agency, to audit Fed interest-rate decisions has won the co-sponsorship of more than half of the House...Link
Pot News.........
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Sunday, August 30, 2009
Come to my Garage Sale.........
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Blackwater in the News....again.
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Judge puts Fed's bailout revelations on hold.
NEW YORK (Reuters) - The U.S. Federal Reserve won a delay of a federal judge's order that it reveal the names of the banks that have participated in its emergency lending programs and the sums they received. Chief Judge Loretta Preska of the U.S. District Court in Manhattan stayed her August 24 order in favor of Bloomberg News, which had sought the information under the federal Freedom of Information Act, so that the central bank could appeal...Link
Intent to Kill........
The founder of Blackwater USA deliberately caused the deaths of innocent civilians in a series of shootings in Iraq, attorneys for Iraqis suing the security contractor told a federal judge Friday. The attorneys singled out Erik Prince, a former Navy SEAL who is the company's owner, for blame in the deaths of more than 20 Iraqis between 2005 and 2007. Six former Blackwater guards were criminally charged in 14 of the shootings, and family members and victims' estates sued Prince, Blackwater (now called Xe Services LLC) and a group of related companies...Link
Top 10 Signs You Might Not Be A Libertarian.
Notice a propensity of newly minted Libertarians showing up lately? Perhaps it's just coincidence their ranks swelled in inverse proportion to George Bush's approval rating, ditto that so many are mouthing traditional conservative talking points. But what about the everyday gun toting townhall screamers and taxcutters and deficit hawks we see on cable news: are they really libertarian as so many claim, or just conservatives in glibertarian clothes? Here's a few warning signs...Link
Ron Paul’s ‘audit the Fed’ bill will pass?
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Saturday, August 29, 2009
White House control of the Internet.............
A bill being composed by aides of Sen. Jay Rockefeller (D-W.Va) is causing concern among technology advocates for strikingly broad language in describing how the White House should direct private sector networks in the event of a cybersecurity emergency. Effectively, it’s critics state, the bill would give the White House control over the American Internet in the event of a major electronic attack on the nation’s infrastructure or other emergency circumstance as declared by the President. But, does it? The answer to that is as ambiguous as the bill’s language, though the Senate Commerce Committee insists that it does not...Link
Friday, August 28, 2009
Bush's Search Policy For Travelers Is Kept.
The Obama administration will largely preserve Bush-era procedures allowing the government to search -- without suspicion of wrongdoing -- the contents of a traveler's laptop computer, cellphone or other electronic device, although officials said new policies would expand oversight of such inspections. The policy, disclosed Thursday in a pair of Department of Homeland Security directives, describes more fully than did the Bush administration the procedures by which travelers' laptops, iPods, cameras and other digital devices can be searched and seized when they cross a U.S. border. And it sets time limits for completing searches...Link
Ticks Vs. Cancer.........
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Barney Frank says Ron Paul bill will pass.....
House Financial Services Chairman Rep. Barney Frank, Massachusetts Democrat, said he expects former GOP presidential candidate Ron Paul's legislation to audit the Fed to pass out of his committee in October as part of a larger regulatory package. Rep. Paul's, Texas Republican, bill if added to Mr. Frank's other proposed reforms could give a boost to a financial regulation package the Obama Administration wanted to pass last spring. The Fed bill has 282 co-sponsors, including every Republican member of the House and a considerable number of Democrats. The Senate's lead sponsor of the bill is Sen. Bernard Sanders, a Vermont independent and self-described socialist. Today, the Government Accountability Office has no power to audit the Federal Reserve. Mr. Paul's bill would empower the government watchdog to do so and make their findings available to the public...Link
The Spin is beginning..............
The biggest threat to investors is no longer poor oversight and regulation of financial markets. Indeed, there exists a more immediate and dangerous threat today – the passing of Ron Paul’s H.R. 1207 bill and the inflationary consequences that it brings. While it may not be the intent of the lawmakers, Ron Paul’s Federal Reserve Transparency Act (H.R. 1207) will enable the congress to influence the outcomes of monetary policy through an audit of the Federal Reserve’s day-to-day operations, thus severely compromising the independence of the U.S. central bank from political influences...Link
Pot News.........
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Thursday, August 27, 2009
R.J. Harris in the news.............
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ACLU Sues DHS over Laptop Searches...
The American Civil Liberties Union on Wednesday sued the Department of Homeland Security in an effort to uncover documents related to laptop searches at the border. "The ACLU believes that suspicionless searches of laptops violate the First and Fourth Amendments," the group wrote in the suit, filed in a New York District Court...Link
Sheehan returns to rebuke Obama..........
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3,900 Stimulus Checks Went To Prisoners.....
WASHINGTON -- The federal government sent about 3,900 economic stimulus payments of $250 each this spring to people who were in no position to use the money to help stimulate the economy: prison inmates...Link
"Great Pacific Ocean Garbage Patch"....
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Dick..........
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Watermelon Juice: The New Fuel?..........
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Conservatives & Liberals Dislike Libertarians.
The conservative masses are railing against the socialism coming out of the Obama administration, and rightfully so. Socialism has proven to be the bane of mankind. With its resurgence under the Obama administration, it continues to pose a giant threat to the economic freedom and well-being of the American people...Link
Senate Republicans plan Grayson fundraiser.
If there was any doubt who the Republican establishment in Washington favors in Kentucky's U.S. Senate race next year, it's waning. Two dozen members of the Senate Republican caucus — including Minority Leader Mitch McConnell of Kentucky and Sen. John Cornyn of Texas, chairman of the National Republican Senatorial Committee — will hold a $500-per-person fundraiser for Secretary of State Trey Grayson on Sept. 23 at the committee's headquarters in Washington...Link
Wednesday, August 26, 2009
To go after those who ordered war crimes...
When Attorney General Eric Holder appointed veteran Justice Department prosecutor John Durham on Monday to look into CIA interrogation abuses, sources indicated that his mandate would be “relatively narrow.” The Washington Post described Durham’s authority as being limited “to look[ing] at whether there is enough evidence to launch a full-scale criminal investigation of current and former CIA personnel who may have broken the law in their dealings with detainees.”...Link
The Shell Game...............
The Federal Reserve is monetizing US Treasury debt and is doing so openly, both through its $300 billion commitment to buy Treasuries and by engaging in a sleight of hand maneuver that would make a street hustler from Brooklyn blush...Link
Argentina rules on marijuana use........
The supreme court in Argentina has ruled that it is unconstitutional to punish people for using marijuana for personal consumption. The decision follows a case of five young men who were arrested with a few marijuana cigarettes in their pockets. But the court said use must not harm others and made it clear it did not advocate a complete decriminalisation...Link
World’s Most Efficient Solar Cell............
The race for the world’s most efficient solar power cell is forever played out in fractions of percentages. The latest victory comes from scientists at the University of New South Wales in Australia, who have concocted a multi-cell combination that converts 43% of sunlight into electricity, besting the previous record of 42.7%!...Link
Tuesday, August 25, 2009
Ted Kennedy Dies of Brain Cancer at Age 77.
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$9 trillion in deficits....................
NEW YORK (CNNMoney.com) -- The White House now expects the 10-year budget deficit to reach $9.05 trillion, roughly $2 trillion more than it estimated earlier in the year, according to a report released Tuesday by the Office of Management and Budget. Budget office director Peter Orszag pointed to a number of measures put in place to stem the pain of the economic downturn. "As a result of a deeper-than-expected recession, certain spending programs (such as unemployment insurance and food stamps) are projected to automatically increase and revenues are projected to automatically decline, compared to our previous projection," Orszag said in a statement...Link
Monday, August 24, 2009
Obama to Nominate Bernanke to 2nd Term.
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FED loses suit demanding transparency...
NEW YORK (Reuters) - A federal judge on Monday ruled against an effort by the U.S. Federal Reserve to block disclosure of companies that participated in and securities covered by a series of emergency funding programs as the global credit crisis began to intensify.Link
Texas Straight Talk......
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Peter Schiff Leans Toward U.S. Senate Run.
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50,000 employees lobbying Congress....
A spokesman for America’s Health Insurance Plans, the industry’s trade group, admitted in an article published Monday that as many as 50,000 industry employees are involved in an effort to fight back against aggressive healthcare reform...Link
150-200 more U.S. bank failures.....
NEW YORK (Reuters) - A prominent banking analyst said on Sunday that 150 to 200 more U.S. banks will fail in the current banking crisis, and the industry's payments to keep the Federal Deposit Insurance Corp afloat could eat up 25 percent of pretax income in 2010. Richard Bove of Rochdale Securities said this will likely force the FDIC, which insures deposits, to turn increasingly to non-U.S. banks and private equity funds to shore up the banking system.Link
Five Myths About the Gold Standard.
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Sunday, August 23, 2009
The War Rolls on........
WASHINGTON – As public support for the war in Afghanistan erodes, President Barack Obama soon may face two equally unattractive choices: increase U.S. troops levels to beat back a resilient enemy, or stick with the 68,000 already committed and risk the political fallout if that's not enough. Army Gen. Stanley McChrystal, the top U.S. commander in Afghanistan, is completing an assessment of what he needs to win the fight there. That review, however, won't specifically address force levels, according to Adm. Mike Mullen, the chairman of the Joint Chiefs of Staff...Link
Saturday, August 22, 2009
Unleashing The Power In Beer......
ScienceDaily (Aug. 22, 2009) — Wolfgang Bengel, the technical director at German biomass company BMP Biomasse Projekt, saw a business opportunity in solving the breweries’ grain waste headache. He reasoned that the leftover grain could be used to create steam and biogas, which would provide energy for the breweries, cheapening their energy costs as well as their costs of transporting grain to farms...Link
Blackwater questions are hard to answer.
Veteran reporter Helen Thomas has license to say what no other reporter in the White House Press Corps can. Today, she exercised it. "I want them to stop killing," she abruptly told White House Press Secretary Robert Gibbs. The statement came after Gibbs dodged a question as to whether the Obama administration will continue contracting the mercenary group formerly known as Blackwater Worldwide...Link
White House deficit estimate jumps......
US President Barack Obama’s administration will raise its 10-year budget deficit forecast to about nine trillion dollars, up about two trillion from the previous forecast, a US official said Friday. The 2010-2019 projection, due out in a report expected next week, will supercede the previous forecast of about 7.1 trillion dollars, according to an official with the White House’s Office of Management and Budget...Link
Rand Paul ‘money bomb’ news..............
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Obama Violating Law By Not Investigating.
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Friday, August 21, 2009
Health Care or Prisons?.............
At a time when we Americans may abandon health care reform because it supposedly is “too expensive,” how is it that we can afford to imprison people like Curtis Wilkerson? Mr. Wilkerson is serving a life sentence in California — for stealing a $2.50 pair of socks. As The Economist noted recently, he already had two offenses on his record (both for abetting robbery at age 19), and so the “three strikes” law resulted in a life sentence...Link
May be criminal............
A former senior adviser to President Richard Nixon says an alleged Bush Administration effort to raise terror alerts around the time of the 2004 election could be criminal if true. Speaking on MSNBC’s Countdown’s, former Nixon counsel John Dean discussed the implications of former Homeland Security Secretary Tom Ridge’s assertion that Bush administration officials pressured him into raising the terror threat level from yellow to orange on the eve of the 2004 presidential election...Link
Drug CEOs don't make much money........
Billionaire Mayor Michael Bloomberg defended multibillion-dollar pharmaceutical companies and their chief executives on Friday, declaring that they "don't make a lot of money" and shouldn't be scapegoats in the health care debate...Link
Mexico legalizes drug possession..........
Mexico decriminalized small amounts of marijuana, cocaine and heroin on Friday — a move that prosecutors say makes sense even in the midst of the government's grueling battle against drug traffickers. Prosecutors said the new law sets clear limits that keep Mexico's corruption-prone police from shaking down casual users and offers addicts free treatment to keep growing domestic drug use in check...Link
Thursday, August 20, 2009
Under pressure.........
In a new book, former Secretary of Homeland Security Tom Ridge reveals new details on politicization under President Bush, reports US News & World Report's Paul Bedard. Among other things, Ridge admits that he was pressured to raise the terror alert to help Bush win re-election in 2004...Link
Taking notice............
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Wednesday, August 19, 2009
More then 60 killed in over 5 blasts in Baghdad.
More then 60 people killed and 300 wounded in a series of bomb blasts and mortar attacks in the Iraqi capital Baghdad. One car bomb exploded outside the office of foreign ministry. Foreign ministry office lies on the edge of the heavily guarded and fortified Green zone. The blast created a large crater outside the office of foreign ministry...Link
First poll in Kentucky. Rand at 26%.......
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Japanese Opposition Party Poised for Victory.
With the official start of the political campaign in Japan, the nation’s Liberal Democratic Party (LDP), which has been the ruling party more or less consistantly for the past 50 years, is trailing dramatically according to two polls by major Japanese dailies. The Democratic Party of Japan (DPJ), a relatively new opposition party which runs on a dramatically anti-traditionalist platform is shown leading 35 percent to 16 percent by Tokyo Shimbun, and 40 percent to 21 percent by Asahi Daily...Link
Tuesday, August 18, 2009
Monday, August 17, 2009
China to buy U.S. mortgages.............
HONG KONG (Reuters) - China's $200 billion sovereign wealth fund, which lost big on its ill-timed 2007 Morgan Stanley and Blackstone bets, plans to invest up to $2 billion in U.S. mortgages as it eyes a property market rebound, two people with direct knowledge of the matter said Monday...Link
It's Time to Legalize Drugs............
Undercover Baltimore police officer Dante Arthur was doing what he does well, arresting drug dealers, when he approached a group in January. What he didn't know was that one of suspects knew from a previous arrest that Arthur was police. Arthur was shot twice in the face. In the gunfight that ensued, Arthur's partner returned fire and shot one of the suspects, three of whom were later arrested...Link
Sunday, August 16, 2009
The war on drugs needs a timeout..............
Bogotá, Colombia; and Buenos Aires - On Monday, President Obama restated his support for Mexican President Felipe Calderón's aggressive tactics in the fight against drug trafficking. He also reiterated his support for a drug security plan with Mexico that is similar to the failed drug plans of past administrations...Link
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