Category: Monetary Policy


McKitrick Paper: No Warming For 19 Years

 

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” The Guardian in 2009 predicted five years of rapid warming:

  The world faces record-breaking temperatures as the sun’s activity increases, leading the planet to heat up significantly faster than scientists had predicted for the next five years, according to a study.

  The hottest year on record was 1998, and the relatively cool years since have led to some global warming sceptics claiming that temperatures have levelled off or started to decline. But new research firmly rejects that argument.

  The research, to be published in Geophysical Research Letters, was carried out by Judith Lean, of the US Naval Research Laboratory, and David Rind, of Nasa’s Goddard Institute for Space Studies.

  Fail. Five more years of no warming followed.

  Professsor Ross McKitrick says in a new paper that the warming pause has now lasted an astonishing 19 years at the surface and 16-26 years in the lower troposphere: “

 

Read on

 

 

 

 

 

 

 

 

 

 

About these ads

Atlas Shrugged: The Movie

 

 

Atlas Shrugged Part 3

 

 

 

 

   We are all John Galt now … Here is a link to the official movie site and here is a link to theaters hosting the premiere 

 

 

 

 

 

 

 

 

 

Weather Channel Founder Explains The History Of The Global Warming Hoax

 

 

 

 

” John Coleman, an award-winning meteorologist and weatherman with sixty years of experience and founder of the Weather Channel, produced a video explaining the history of the man-made global warming hoax .

  Coleman, a former broadcast meteorologist of the year of the American Meteorological Society (AMS), explains that after being a member for several years, he quit the AMS after it became very clear to him that “the politics had gotten in the way of the science.” Coleman explains that there is no man-made global warming, and he’s sure of it. 

  Coleman says that if there were evidence of man-made global warming, he would have been dedicated his life to stopping it: 

“ I love our wonderful planet Earth. If I thought it was threatened by global warming, I would devote my life to stopping the warming!”

  Now they call it “climate change” instead of global warming, because the warming has stopped, says Coleman, and that $4.7 billion in taxpayer money is funding “bogus reports” and “bogus research.”  “

TPNN

What Are The Online Shopping Habits Of The People In Your State?

 

 

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” Kentuckians really, really love their medical supplies and equipment, while Iowans like their small appliances – at least according to a new infographic compiled by online shopping mecca eBay.

  According to Mashable, eBay analyzed 2013-2014 shopping habits to find the top 500 brands purchased by residents of each state. The online retailer then condensed the data to general categories like “furniture,” “robotic vacuums,” and “batteries” among others.”

 

Glenn Beck

 

 

 

 

 

 

 

 

 

 

 

 

Century of Enslavement: The History Of The Federal Reserve

 

 

 

Published on Jul 6, 2014

” TRANSCRIPT AND RESOURCES: http://www.corbettreport.com/federalr…

  What is the Federal Reserve system? How did it come into existence? Is it part of the federal government? How does it create money? Why is the public kept in the dark about these important matters? In this feature-length documentary film, The Corbett Report explores these important question and pulls back the curtain on America’s central bank.”

IMF Chief Charged With ‘Negligence’ Over Graft Case

 

 

 

” IMF chief Christine Lagarde, one of the world’s most powerful women, announced Wednesday she had been charged with “negligence” over a multi-million-euro graft case relating to her time as French finance minister.

  The shock announcement came a day after she was grilled for more than 15 hours by a special court in Paris that probes ministerial misconduct, the fourth time she has been questioned in a case that has long weighed upon her position as managing director of the International Monetary Fund.”

 

Read more

 

 

 

 

 

 

 

 

 

Letting The Cat Out Of The Bag On The Role Of Public Employee Unions

 

 

Illustration by Michael Ramirez

 

” Noam Scheiber makes a good case for the importance of the Wisconsin governor’s race at the New Republic. But the most interesting thing comes in what Scheiber, perhaps inadvertently, admits. Referring to the limitations on public employee union bargaining imposed by Governor Scott Walker and the Republican legislature, Scheiber writes, “He’s effectively defunded a key Democratic constituency.” “

 

 

 

 

” Let’s unpack that. Where do public employee unions get their money? Directly from dues paid by public employees, who in turn get that money from taxpayers. Where does that money go? Politically, almost entirely to the Democratic Party, as Scheiber admits. Public employee unions, whatever else they do, are (in almost all cases) a mechanism for mandatory taxpayer financing of one political party. Scheiber’s complaint is that Wisconsin Republicans have cut the amount of such public financing.

  What’s the argument for that? I understand that those who want the Democratic Party to win every election may think that’s good public policy. But what’s the politically neutral argument for public financing of one political party and not the other? “

 

 

Michael Barone explains

 

 

 

 

 

 

 

 

 

Sarah Challenges Two Political Heavyweights

 

 

 

 

 

 

” I accept Wasilla Arctic Cat’s #icebucketchallenge to #strikeoutALS and will donate to the Pete Frates #3 Fund. Watch my video to see whom I challenge. Hat tip to actor Patrick Stewart for reminding everyone with his video that the donation is the most important part of the #icebucketchallenge, not the frivolous water-tossing theatrics that those of us who are more thoughtfully serious choose to forgo.

Find out more about #ALS and learn the story behind the #icebucketchallenge here: http://is.gd/EchG4H and here:http://petefrates.com/

Next up, it’s Todd’s turn!

- Sarah Palin “

 

 

 

 

 

 

 

 

 

 

 

The 5 Best States For Senior Citizens To Retire In

 

 

 

 

 

 

 

” Baby boomers may have provided the bulk of the productivity surge in this country during the past couple of decades, but now they’re retiring in unprecedented numbers. This is setting in motion a number of interesting scenarios.

  Some retirees are still recovering from the Great Recession swoon. Many are concerned about the Social Security funding gap, and some need their nest eggs to stretch further because people are living longer than ever these days.

  But for all retirees, choosing where to retire can be just as important as choosing when to retire.

 As we saw last weekend, more than a dozen U.S. states tax Social Security income either at the federal rate or at rates based on their own formulas. In addition, sales tax, property tax, and a bevy of other costs can vary throughout the country. Thus some states let senior citizens hang on to more of their hard-earned cash than others do.

  Thankfully, Bankrate has done the hard work for us. By using a number of factors that include tax burden, cost of living, access to healthcare, crime rate, and even weather, it has ranked the top states for senior citizens to retire in. According to Bankrate’s findings, here are the five best states for retirement, in ascending order: “

 

Read the rest

 

 

 

 

 

 

 

 

Soros, Steyer Spend Big In Bid To Rescue Democrats’ Majority

 

 

 

 

” Super PACs spent July beefing up for the fall campaign. Many groups filed new disclosure reports this week, leaving a paper trail littered with big checks from big names.

  Democrats dominate the list of notable July donors, as there have simply been more Democratic dollars flowing to that type of outside group this year. There’s still plenty of conservative money out there; it’s just that more of it is going toward nonprofits, which don’t have to disclose their donors. Here are a handful of July super PAC donations that stood out.

  STEYER: Climate-change activist Tom Steyer gave the biggest super PAC donation in this month’s reports: $7.5 million to his own group, NextGen Climate. Steyer, who made his fortune as a successful hedge-fund manager, also spread some of that money around. NextGen gave a half-million dollars to Senate Majority PAC, the biggest Senate Democratic super PAC, and $150,000 to the League of Conservation Voters Victory Fund, another environmental group.

  BLOOMBERG: Michael Bloomberg is staying plenty active in his post-mayoral days. Aside from funding his gun-control-focused super PAC, Bloomberg has written checks to Senate Majority PAC and super PACs that backed GOP Sens. Thad Cochran and Lindsey Graham during their primary battles. Most recently, the former New York City mayor donated $2 million to Women Vote!—the largest contribution the EMILY’s List super PAC has ever received. Only Steyer has given more money to super PACs this election season.

  SOROS: Democratic financier George Soros’s checkbook has been active this summer: The prolific donor gave $500,000 apiece to House Majority PAC and the League of Conservation Voters Victory Fund. But that million dollars wasn’t his family’s only big outlay so far this summer. Soros’s daughter, Andrea Soros Colombel, gave $250,000 to Planned Parenthood Votes.

  SINGER: Hedge-fund manager Paul Singer is the top super PAC donor on the Republican side so far this election cycle, and he kept the money flowing last month. The Elliott Management founder dished out $750,000 to the conservative super PAC Ending Spending Action Fund, which has spent a total of nearly $4.5 million in five different races in 2014. Singer also gave $100,000 to the GOP’s best-known spending juggernaut, American Crossroads. Singer has now contributed a total of $1.4 million to Ending Spending and $1.35 million to Crossroads this cycle.

  MOSTYN: Amber Mostyn is half of Texas’s biggest Democratic power couple. The Houston lawyer and her husband Steve were among Democrats’ biggest super PAC donors in 2012, when the The New York Times Magazine used the story of the Mostyns’ $1 million gift to Priorities USA Action to explain the role and rise of the pro-Obama super PAC. In July, Amber Mostyn gave $250,000 to the Planned Parenthood super PAC, matching the quarter-million she gave the committee in 2013.

  BERGMAN: After giving $1 million to American Crossroads in 2012, Jay Bergman, the owner of Illinois-based Petco Petroleum, remained relatively quiet on the outside-money front. But In July, he ponied up to Crossroads again, cutting a $500,000 check to the super PAC. Bergman gives mostly to Republicans. But he casts himself as an “independent,” and he’s contributed to Illinois Democratic Gov. Pat Quinn and his predecessor, Rod Blagojevich, in the past.

  SABAN: Billionaire Univision owner Haim Saban has already pledged his “full might” to Hillary Clinton if she runs for president in 2016, but he’s keeping busy in the meantime. Saban gave $250,000 to Senate Majority PAC in July.

  SCHMIDT: Another $250,000 donation came to Senate Majority PAC via Google Chairman Eric Schmidt. Unlike most of the donors on this list, Schmidt eschewed super PACs in 2012, but this is his second major contribution of 2014. Back in June, Schmidt gave $100,000 to the super PAC formed to support Democratic Sen. Mark Warner’s reelection in Virginia this year.

 ANGELOS: Other Democratic donors may have given more money than the $100,000 Senate Majority PAC got from the Law Offices of Peter Angelos. But few other donors have jobs as cool. When he’s not financing Democratic super PACs, Angelos can be found bankrolling free agent signings as the owner of the Baltimore Orioles.

  OTHER PACS: Some of the biggest donations made in July went from one PAC to another. In addition to the donations Steyer’s group made, Senate Majority PAC also contributed $350,000 to the League of Conservation Voters super PAC last month. And two of the biggest donations to House Majority PAC came from the Blue Dog PAC and the New Democrat Coalition PAC, two groups representing moderate or conservative House Democrats. They combined to give $350,000 to House Majority PAC.”

 

Party of the “little people” indeed …

 

Thanks to National Journal

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Army Quits Tests After Competing Rifle Outperforms M4A1 Carbine

 

 

 

 

” A competing rifle outperformed the Army’s favored M4A1 carbine in key firings during a competition last year before the service abruptly called off the tests and stuck with its gun, according to a new confidential report.

  The report also says the Army changed the ammunition midstream to a round “tailored” for the M4A1 rifle. It quoted competing companies as saying the switch was unfair because they did not have enough time to fire the new ammo and redesign their rifles before the tests began.

  Exactly how the eight challengers — and the M4 — performed in a shootout to replace the M4, a soldier’s most important personal defense, has been shrouded in secrecy.

  But an “official use only report” by the Center for Naval Analyses shows that one of the eight unidentified weapons outperformed the M4 on reliability and on the number of rounds fired before the most common type of failures, or stoppages, occurred, according to data obtained by The Washington Times. “

 

Read more

 

 

 

 

 

 

 

 

 

The 35.4 Percent: 109,631,000 On Welfare

 

 

 

 

 

” 109,631,000 Americans lived in households that received benefits from one or more federally funded “means-tested programs” — also known as welfare — as of the fourth quarter of 2012, according to data released Tuesday by the Census Bureau.

  The Census Bureau has not yet reported how many were on welfare in 2013 or the first two quarters of 2014.

  But the 109,631,000 living in households taking federal welfare benefits as of the end of 2012, according to the Census Bureau, equaled 35.4 percent of all 309,467,000 people living in the United States at that time.

  When those receiving benefits from non-means-tested federal programs — such as Social Security, Medicare, unemployment and veterans benefits — were added to those taking welfare benefits, it turned out that 153,323,000 people were getting federal benefits of some type at the end of 2012.

  Subtract the 3,297,000 who were receiving veterans’ benefits from the total, and that leaves 150,026,000 people receiving non-veterans’ benefits.

  The 153,323,000 total benefit-takers at the end of 2012, said the Census Bureau, equaled 49.5 percent of the population. The 150,026,000 taking benefits other than veterans’ benefits equaled about 48.5 percent of the population. “

 

CNS News has more

 

 

 

 

 

 

 

 

 

 

Reporter Blasts Clinton Royalty

 

 

 

 

” Nevada reporter Jon Ralston rips Hillary Clinton for demanding “royal treatment” in an upcoming visit to Las Vegas:

” The price of Hillary Clinton’s scheduled speech and UNLV fundraiser could be going up. Las Vegas Review Journal, which obtained Clinton’s contract with the UNLV Foundation, reports in addition to her speaking fee of $225,000, Clinton is demanding a private jet, a presidential suite and adjoining rooms for her entourage, and Clinton refuses to mingle with the common folk. She wants to approve any media types attending the event.

” And now, a word about royalty. We don’t have kings and queens in America, or at least we shouldn’t. But when I see the red carpet UNLV is rolling out for Hillary Clinton in two months I start to wonder. Unless you’re a mindless partisan, the details of that contract with the UNLV Foundation should disturb you. They were uncovered, as I said by the RJ’s Lara Myers, and published over the weekend. The contract reads as if Hillary is being given the, yes,  royal treatment. Now it is bad enough that the UNLV Foundation folks agreed to that outrageous $225,000 fee as students struggle to make ends meet.”

 

 

Weekly Standard

 

 

 

 

 

 

 

 

The Best School Supplies

 

 

” It’s that time of year again—time for parents to wipe away tears of joy as they take household freedom back from the tyranny of teenagers. Just kidding. It’s an exciting but busy time of year for those going back to school (or going away to school for the first time), which can lead to frustration when deciding what’s actually necessary for things like cleaning, dorm life, electronics, food prep, class items, and even elementary school needs.

  Most back-to-school guides are full of gear students can’t afford or shouldn’t even consider in the first place. We decided to continue the tradition of publishing a researched list of the basics for a student’s home, backpack, and lecture hall. Some of our picks stem from the over 50 hours spent on fresh research and testing for this guide, while others are from full-length guides that we’ve specifically filtered for the student set.

  Remember, you may have some of this stuff already—don’t buy anything you don’t need. It’s a better idea to put that money towards student loans or trips back home during the holidays.”

 

 

 

 

 

 

 

 

 

 

 

 

 

Does George Soros Know Something We Don’t About The S&P 500?

 

 

 

 

” Oh, goody. It’s 13F time, when mere mortals like us get to see how the big boys rolled the dice in the last quarter.

  Among the highlights, Soros Fund Management increased a bear-call bet on the S&P 500 in a huge way. The fund lifted a put position — a bet the market will go lower — on the S&P 500 ETF SPY +0.29% to its biggest size yet, in terms of value and portfolio percentage, making a 605% leap over the previous quarter.

  Bullion Baron, who has long kept a beady eye on Soros’s SPY moves, has summed up the latest dealings. He speculated that this could be  a hedge — or Soros is really worried about something. One possible something is China, which the hedge-fund titan referred to as a global uncertainty earlier in the year, notes the Baron.

  Soros also lifted positions in Apple and Facebook, so it seems he can’t be all that gloomy. As for that China unease, WSJ’s MoneyBeat reports that China bears are entrenched and see stocks headed for a big fall. One strategist says it’s not good to see that stocks there have been rallying on both good and bad economic news.

“ In [a] market frenzy, it is difficult to keep a cool head. But if things don’t add up, it will eventually fall apart,” Hao Hong, Bank of Communications international strategist, tells MoneyBeat.

  Now the only problem here, says the Baron, is that if things go pear-shaped in China, that’s not great news for equity markets anywhere, especially those at overvalued levels.”

 

 

Read more and see also …

 

 

” Legendary investor George Soros nearly doubled his ownership in a U.S. gold mining companies ETF and initiated new stakes in other gold producers, suggesting the big names in hedge funds continued to have confidence in the yellow metal. “

 

 

 

 

 

 

 

 

 

Biggest Sport Fishing Boats Ever Made

 

 

 

 

 

Viking 92 Convertible

” The largest Viking to date in its 50-year history is its new 92 Convertible.

  It launches late summer 2014. The first boat will be an enclosed-bridge model, and this will be followed by open-bridge versions. The project was handled by Viking from design, the building of the molds in-house with the aid of a pair of five-axis profiling milling machines and all of the construction aspects. 

  The 23-foot beam not only opens the salon, but transforms into a living room with built-in furniture and appointments like a 60-inch flat screen television that rises on a lift out of the teak cabinetry. An L-shape island in the galley complements the work area and all countertops feature custom-selected granite. A pair of walk-in pantries and a full day head are forward and characterize an excellent use of space. Nearby, a formal dining area accommodates eight guests.”

 

 

Viking 92

SPECIFICATIONS
Length Overall (LOA): 93′ 4″ (28.45 m)
Beam: 23′ 5″ (7.03 m)
Draft: 5′ 10″ (1.77 m)
Gross Weight*: 195,000 lbs. (88,450 kg)
Fuel Capacity: 4,000 gals. (15,141 l)
Water Capacity: 450 gals. (1,703 l)

 

 

 

 

” The 92 Convertible has six staterooms, each with its own private head and shower. The full-beam master suite features a king-size walk-around bed, a walk-in closet, a dressing table, and his-and-her private facilities. Crew quarters are aft with access from the cockpit. The full-beam area includes a head with a shower, a small galley area, and upper and lower berths in a private cabin.

  Propulsion choices include offerings by Caterpillar and MTU. The communication, navigation and entertainment electronics package will be designed and installed by Viking’s sister company, Atlantic Marine Electronics. The first open-bridge boat will have a tuna tower designed and fabricated by Palm Beach Towers, another Viking subsidiary.

http://www.vikingyachts.com/ “

 

 

 

If Viking is not your cup of tea , how about a Hatteras ?

 

 

hatteras

 

 

 

Hatteras 90′

” Hatteras’ largest sport-fishing boat is the 90C. The boat was built in 1995, with the first boat delivered in 1996. This was a series of convertibles Hatteras produced at the time, the first one was in 1992, which was an 82C.

There were a total of 23 boats from the series built and sold from 1992-1998. At the time, it had largest diesel engines on a sport-fishing boat — the Deutz 16v-620 engine with 2,900 break hp.

Another unique feature of the 90C is that Hatteras built a bridge upon a bridge, meaning a flybridge on top of an enclosed bridge. There was only one like this built in its fleet.

The biggest challenge with the build process was the draft of the boat due to the large horsepower. Hatteras Engineering and Michigan Wheel designed a hybrid propeller specific for this model.

http://www.hatterasyachts.com/ 

 

    Of course the comparison above is not quite fair as the Viking 92′ is a current production boat while Hatteras , at present , “only” makes sportfish up to 77′ in length … see below .

 

 

 

 

 

Length Overall 76’10″/ 23.42 meters
Length Overall with Bow Pulpit 80’2” / 24.43 meters
Beam 22′ / 6.71 meters
Draft 5’3″ / 1.60 meters
Freeboard Aft 3’5” / 1.04 meters
Headroom Most Areas 6’6” / 1.98 meters
Freshwater Capacity 380 gallons / 1,438 liters
Fuel Capacity 3,000 gallons / 11,356 liters
Holding 255 gallons / 965.28 liters
Weight Displacement 175,000 lbs / 79,348 kilos
Height Above Waterline to top of Console 20′ / 6.10 meters
Waterline Length 66’ / 20.17 meters
AVAILABLE OFFERED AS ENCLOSED BRIDGE ONLY

 

 

Hatteras 77

 

 

 

 

 

 

 

Other fine fishing machines represented in the Marlin Magazine article include Jim Smith , Merritt , Rybovitch , Paul Mann and others . See them all here .

 

 

 

 

 

 

 

 

 

Many Americans Renounce Citizenship, Hitting New Record

 

 

 

” It may seem like a drop in the bucket, especially when droves want to immigrate to America. Still, the newly published names of individuals who renounced their U.S. citizenship or terminated long-term U.S. residency is up, with 576 for the quarter and 1,577 so far this year. The growing trend is a sad one as Record Numbers of Americans Are Renouncing Their U.S. Citizenship.

  For all the immigrant arrivals, the trickle the other direction is becoming more pronounced. The tally was 2,999 for all of 2013, a 221% increase over the 932 who left in 2012. The Treasury Department is required to publish a quarterly list, a kind of public outing putting Americans on notice of who relinquished their rights. Consular expatriations, where people don’t file exit tax forms with the IRS, are apparently not counted.

  Indeed, the Treasury Department’s published list states explicitly this is just those about whom the Secretary of the Treasury has data. It means these numbers are under-stated, some say considerably. Although tax law used to impact how one is taxed on departing the U.S., is no longer relevant why someone expatriates.”

 

Forbes has more

 

 

 

 

 

 

 

 

The Clintons Are ‘Slumming It’! Power Couple Downsize Their Summer Home To Pay $100,000 On $18m Hamptons Property

 

 

Home for the summer: The Clintons are renting a house belonging to Andre and Lois Nasser in Amagansett, NY

 

 

” The Clintons are ‘downsizing’ their summer home to a simple, $18million house in the pretty Hampton’s hamlet of Amagansett.

  Former President Bill Clinton, 67, and ex-Secretary of State Hillary Clinton, 66, are expected this week at the sprawling five-bedroom property, owned by Andre and Lois Nasser, which they have rented for the remainder of the month.

  Their summer jaunt comes just weeks after Mrs Clinton controversially declared the power couple were ‘dead broke’ after leaving the White House in 2000.

  Sources tell MailOnline they are paying $100,000 for their three-week stay – saving $100,000 from last year’s luxury rental in Sagaponack.

  Mr Nasser, 67, a collector of primitive art, owned a gallery in New York, and is believed to have made his money with a number of clothing manufacturing plants. He is now said to be ‘semi retired’.

  Public records show that he is a Republican donor-  handing over $2,500 to Mitt Romney’s Presidential campaign in 2012.

  His wife, Lois, is a Senior Global Real Estate Advisor with Sothebys, and her clients are said to include ‘celebrities and business leaders’.

  The property – address 44 Broadview Road – is next door to movie mogul Harvey Weinstein, who is a noted Democrat supporter and longtime close friend of the Clintons.

  It is situated on the top of a bluff, 200 feet up, overlooking Gardiner’s Bay and Gardiner’s Island in what’s known as the Bell Estate.”

 

Daily Mail

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Part 1 From Victor Wendl At Seeking Alpha

 

 

 

 

 

” Ayn Rand wrote an influential book, Atlas Shrugged, in the ’50s that seems to resurface in popularity with each new wave of government intrusion on the lives of our overregulated, overtaxed citizens. The book describes a world that was on a slow but steady path toward ever more central planning by meddling bureaucrats interfering with the entrepreneurial class who relied on one another for their production of output. As the pages of the book are turned, this “road to serfdom” (a phrase I borrow from Friedrich Hayek) reaches a peak with the last of a small subset of productive entrepreneurs dropping out of their respective professions and sealing themselves off in a secret location created by John Galt. Their isolation from government interference in Galt’s secret hideaway was designed to allow this subset of creative, hard-working individuals to pursue their dreams and live in a rational way, trading value for value with one another. The vision of Galt in his hidden refuge is consistent with the Ayn Rand objectivist philosophy that she advocated her entire life as an immigrant to America from the Soviet Union.

  Rand never wrote a sequel to Atlas Shrugged, but I wonder where she would pick up after the first novel ends. We’re left with John Galt and his band of entrepreneurial cohorts waiting to eventually reenter the failed utopia created by central planners. Taking a peek out of his libertarian lair, I wonder what Galt would think of America today. Some of the current dismal economic statistics seem consistent with the world Ayn Rand created in her fictional novel. The latest Census Bureau figures show a larger percentage of people receive some form of means-tested public assistance than work full-time. Would this be a rock-bottom entry point where Galt and his band of entrepreneurial cohorts can once again return to the world and begin rebuilding America based on principles of limited government and free markets? Not quite yet. One last worn-out shoe has yet to drop: the U.S. stock market.

  Unlike the beaten-down real economy, activity on Wall Street continues to flourish. Large banks and their institutional clients have benefited from the artificial stimulation promulgated by the Federal Reserve. By keeping interest rates near zero percent for the last five years, middle-income families receive next to nothing off their life savings, while institutional clients can borrow money at bargain rates from large banks. In a classic example of crony capitalism, banks have rewarded their institutional clients with cheap loans, enabling them to use borrowed money and speculate on stocks, driving valuations to levels not seen since before the bank bailout in 2008. The governor of the Bank of England recently commented that “banks operated in a privileged heads-I-win-tails-you-lose bubble.[i] I believe Galt would be disgusted at this unintended consequence of government intervention that is driving a wedge between the elite on Wall Street and the average American struggling to make ends meet on a beleaguered Main Street. If Galt were a stock investor, would he trade in some of his gold for fiat currency, cozying up to this collection of institutions buying large-cap stocks on margin? At these nosebleed valuation levels, Galt would probably “flip the bird” at Mr. Market before sliding back into his hidden sanctuary until greener pastures emerged in the equity investment arena. Galt strikes me as the kind of independent investor that would keep his libertarian powder dry until the current statist experiment ran its complete course, waiting patiently to scoop up the right kind of stocks at a great price. Assuming the skeleton infrastructure of an organized stock exchange still remained on the day of Galt’s return to the investment arena, what stocks would he select from the rubble left on the corner of Broad and Wall? A review of the character’s profile might give us a few clues. Let’s go through a few stock categories I believe John Galt would avoid. Buying large company stocks would probably be out of the question for Galt. In the recent past, these stocks were the economic football the large institutions speculated on with borrowed money. As already mentioned, savers deposited hard-earned money in their bank accounts and received close to a zero percent interest rate, while money was loaned out in a speculative frenzy to the bank’s institutional buddies. Adding insult to injury, not only do retirees earn about the same interest rate as preppers get off of canned goods stored in their bomb shelters, their principal is being debased from continuous quantitative easing by the Federal Reserve. The stench coming off this large-cap football used by highly leveraged institutions in stock speculation would be too much for Galt to muster a bid order. “

 

 

Read it all

 

 

 

 

 

 

 

 

 

 

Time Offers Readers The Opportunity To Vote For First Woman On The Dollar Bill

 

 

Woman Dollar Bill Poll

 

 

 

” Eleanor Roosevelt? Harriet Tubman? Beyoncé? Cast your vote in the poll below.

  Is it time to put a woman on our paper currency? President Obama went on record today saying it’s a “pretty good idea.” During a speech in Kansas City, Obama said he received a letter from a young girl asking why there aren’t any women on American paper money. (Dollar coins with Susan B. Anthony and Sacagawea are still in circulation, but they are no longer being minted, and Martha Washington appeared on a paper note in the 19th century.)

  Well, if Congress is taking suggestions… who do you think should get the honor? Take our poll: “

 

 

    Two things strike us about this poll … firstly that Ayn Rand Is the runaway leader but even more-so the fact that Time Inc included her in the first place . Ayn Rand rocks … Go cast your ballot . We don’t imagine that these are the results that either Obama or Time had in mind .

 

 

 

 

 

 

 

 

 

 

 

The Coming Digital Anarchy

 

 

 

 

 

 

” The rise and rise of Bitcoin has grabbed the world’s attention, yet its devastating potential still isn’t widely understood. Yes, we all know it’s a digital currency. But the developers who worked on Bitcoin believe that it represents a technological breakthrough that could sweep into obsolescence everything from social networks to stock markets… and even governments.

  In short, Bitcoin could be the gateway to a coming digital anarchy – “a catalyst for change that creates a new and different world,” to quote Jeff Garzik, one of Bitcoin’s most prolific developers.

  It’s already beginning. We used to need banks to keep track of who owned what. Not any more. Bitcoin and its rivals have proved that banks can be replaced with software and clever mathematics.

And now programmers of a libertarian bent are starting to ask what else we don’t need.”

 

 

Hmm , what don’t we need ? 

 

 

” Imagine driverless taxis roaming from city to city in search of the most lucrative fares; a sky dark with hovering drones delivering your shopping or illicit drugs. Digital anarchy could fill your lives and your nightmares with machines that answer to you, your employers, crime syndicates… or no one at all. Nearly every aspect of our lives will be uprooted.

  To understand how, we need to grasp the power of the “blockchain” – a peer-to-peer ledger which creates and records agreement on contentious issues with the aid of cryptography.

  A blockchain forms the beating heart of Bitcoin. In time, blockchains will power many radical, disruptive technologies that smart people are working on right now.

  Until recently, we’ve needed central bodies – banks, stock markets, governments, police forces – to settle vital questions. Who owns this money? Who controls this company? Who has the right to vote in this election?

  Now we have a small piece of pure, incorruptible mathematics enshrined in computer code that will allow people to solve the thorniest problems without reference to “the authorities”. “

 

 

Read much more on the coming of digital liberty at the Telegraph

 

 

 

 

 

 

 

 

 

 

 

 

 

Army To Force Out 550 Majors; Some In Afghanistan

 

 

 

” About 550 Army majors, including some serving in Afghanistan, will soon be told they have to leave the service by next spring as part of a budget-driven downsizing of the service.

  Gen. John Campbell, the vice chief of the Army, acknowledged Friday that telling troops in a war zone that they’re out of a job is a difficult task. But he said some of the soldiers could join the National Guard or the Army Reserve.

  The decision to cut Army majors comes on the heels of a move to slash nearly 1,200 captains from the ranks. Army leaders were criticized at the time for giving 48 of them the bad news while they were deployed to Afghanistan.

  The Army declined to say how many majors will be notified while they are at the battlefront.

” The ones that are deployed are certainly the hardest,” Campbell told reporters. “What we try to do there is, working through the chain of command, minimize the impact to that unit and then maximize the time to provide to that officer to come back and do the proper transition, to take care of himself or herself, and the family.” “

 

 

 

More here

 

 

 

 

 

 

 

 

 

 

 

Bill Gates Is The Richest In The World, But Who Is The Wealthiest In Your State?

 

 

usmap

 

 

 

” A recent interactive map identifies the wealthiest person in each of the 50 states. While Oregon’s richest resident comes as no surprise, topping the charts of not only the richest man in the country, but the world as well, others might be lesser known.

  Movoto lists the richest person in each state, considering entrepreneurs, heirs and heiresses, and widows, and their outstanding fortunes.”

 

UniversalFreePress

 

 

 

 

 

 

 

 

 

 

 

 

 

About Halfway Through This Video It Becomes Obvious Why Bank’s New Ad Has Received Almost 3 Million Views in Just Days

 

 

 

 

 

” TD Canada wanted to say thank you to their customers this year in a way they felt was “unique and distinctive.”

“We thought we’d really kick it up a notch,” said Chris Stamper, SVP corporate marketing at TD Canada Trust.

  And that they did.

  The bank posted a video online showing them morph an ATM machine into what they called an “automatic thanking machine,” stunning pre-selected customers by dispensing a unique gift to each of them.

  But the bank wasn’t finished yet. The video has undoubtedly gone mega-viral because of what happens in the second half. That’s when the bank kicked it up several notches and delivered an additional, heartfelt gift to each of the customers.”

 

The Blaze

 

 

 

 

 

 

 

 

 

 

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