Category: Monetary Policy


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

 

 

 

 

 

 

 

 

 

 

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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

 

 

 

 

 

 

 

 

 

 

Work At Reason!

 

 

 

 

 

” Reason is growing, and we’re looking for talent across the board – journalism, policy research, operations and fundraising. All listings are for salaried positions with benefits, and we are open to telecommuters and to new staff for our Los Angeles or Washington D.C. offices. Help us find the best talent around – share this post!

For more information, visit www.reason.org/about/jobs, or click on the links below. 

News Curator Reason.com is looking for a libertarian news-hound to help curate theReason 24/7 news feed. News curators will spend their days tracking the latest and greatest happenings all over the world, selecting news most relevant to liberty, and serving it up to the Reason.com audience. 

Editors and Writers  Reason magazine and Reason.com seek talented journalists to add to our team. We are accepting applications from writers and editors at all levels of experience who have a strong interest in covering and promoting free minds and free markets. 

Copyeditor Do you have a strong opinion about the Oxford comma? Is proper capitalization important to you? Do you love free minds and free markets? Come copyeditReason!

DC Reporter Reason.com is looking for a libertarian political junkie to cover Capitol Hill and beyond. The reporter would be responsible for covering the actions and words of “liberty movement” politicians on Capitol Hill, and important political news of the day, especially issues of particular interest to libertarians, such as Obamacare, federal spending, debt, war, civil liberties, criminal justice reform, the drug war, elections, etc.

Searle Film Fellowship at Reason TV  Reason TV—the online video journalism project of the Reason Foundation—is seeking talented individuals interested in advancing the message of free minds and free markets through video journalism and related multimedia productions. 

Major Gifts Officer  Are you friendly and outgoing? Do you enjoy meeting new people who share your passion for liberty? Well then, Reason Foundation has a challenge for you! We’re looking for a Major Gifts Officer—someone who can help us build strong relationships between Reason and our generous supporters, introduce new supporters to Reason, and help us work with our friends to strengthen our financial position. 

Development Associate  Reason Foundation is looking for a Development Associate to join our fundraising team. If you’re looking to jumpstart a successful career in fundraising, this might be the job for you!  

Internship Manager and Hiring Associate  Reason is looking for a hiring associate with a passion for liberty who is interested in helping identify and recruit talented individuals for the Reason team. This is a great opportunity for an early-career professional to learn about all aspects of talent identification and selection while gaining valuable management experience running Reason’s large internship program.  

Education Policy Analyst  Reason’s work on school finance promotes student-based budgeting programs, which use free market principals to allow parents to choose the school that best fits their child’s unique educational needs and holds schools accountable for student outcomes. Reason is seeking a policy analyst to advance the research agenda on school finance as well as other areas of education reform.

Privatization Policy Analyst  Reason Foundation seeks a policy analyst to focus on privatization, performance-based contracting, and government reform.  

Infrastructure Policy Analyst  Reason Foundation seeks a policy analyst to specialize in research on the maintenance and financing of essential infrastructure, including highways, bridges, aviation, drinking water, waste, dams, transit, and more.”

 

Contact Reason here

 

 

 

 

 

 

 

 

 

Bill Gates’ Tech Worker Fantasy

 

 

” Business executives and politicians endlessly complain that there is a “shortage” of qualified Americans and that the U.S. must admit more high-skilled guest workers to fill jobs in STEM fields: science, technology, engineering and math. This claim is echoed by everyone from President Obama and Rupert Murdoch to Mark Zuckerberg and Bill Gates.

  Yet within the past month, two odd things occurred: Census reported that only one in four STEM degree holders is in a STEM job, and Microsoft announced plans to downsize its workforce by 18,000 jobs. Even so, the House is considering legislation that, like the Senate immigration bill before it, would increase to unprecedented levels the supply of high-skill guest workers and automatic green cards to foreign STEM students.

  As longtime researchers of the STEM workforce and immigration who have separately done in-depth analyses on these issues, and having no self-interest in the outcomes of the legislative debate, we feel compelled to report that none of us has been able to find any credible evidence to support the IT industry’s assertions of labor shortages.”

 

Read more at USA Today

 

 

 

 

 

 

 

 

 

Congress Brings Socialism To America With This Proposed Law

 

 

 

” Sadly today I am reporting to you yet another development that seems as if we are all living within the pages of Ayn Rand’s seminal work Atlas Shrugged.

  You may recall from the book that John Galt, the enigmatic protagonist, started off as a young engineer at the Twentieth Century Motor Company.

  When the owner of the company died, the heirs decided to run the business according to the new enlightened principles of the time.

  Primarily, they let all the workers vote on how the factory was supposed to be run and how much everyone should be compensated.

  And it was soon decided that “everybody in the factory would work according to his ability, but would be paid according to his needs.”

  Naturally, bright hard-working employees soon left; they found themselves working around the clock for the benefit of others who felt entitled to contribute as little as possible.

  John Galt was among the first out the door.

  And not long after, the once successful company went bust. No surprise.

  Unfortunately this is no longer fiction. Because in the Land of the Free, the United States Congress is striving to make Atlas Shrugged a reality.

  Their latest brainchild is to set up a new government bank, stuff it full of taxpayer funds, and loan the money to American workers for the exclusive purpose to help them form collectives and buy the companies they work for.

  It’s called the United States Employee Ownership Bank Act.

  And, straight from the bill, they aim to provide “loan guarantees, direct loans, and technical assistance to employees to buy their own companies. . .”

 

Read the rest at Zero Hedge

 

 

 

 

 

 

 

 

 

L.A. Gets Snarky About Obama Traffic Delays: #ThanksObama

 

 

#ThanksObama

 

 

 

 

” President Obama may rake in the money from fawning donors during his two-day fundraising sweep through Los Angeles this week, but he’s not winning any fans among commuters who, as they do, take to social media to vent.

“ Obama is visiting Los Angeles today which means I won’t be home till around 7:30pm due to traffic delays. #SMH” tweeted Twitter user West Coastin’.

  Obama’s L.A. visit, scheduled to start Wednesday afternoon, means traffic headaches for commuters in West Hollywood, downtown, Mid-Wilshire, Exposition Park, Pacific Palisades and Brentwood, among other areas.

“ If you’re on the Westside today … don’t get trapped in traffic. Obama’s a’comin!” said Twitter user Byrd. “

 

 

 

LA Times has more and be sure to visit #ThanksObama at Twitter

 

 

 

 

 

 

 

 

 

 

 

Ex-Planned Parenthood Director: They Told Me Every Baby Killed in Abortion Made Them $313.29

image

” In a new expose’ video released today, a former Planned Parenthood abortion clinic director says Planned Parenthood put a price on the value of a human life: $313.29.

  That’s the amount of money Abby Johnson says the Planned Parenthood abortion clinic she ran in south Texas would make every time it would kill a baby in an abortion. Johnson, who is now pro-life, released a video this morning exposing the abortion quotas that take place at Planned Parenthood.

  Johnson says her supervisor informed her that her clinic needed to double the number of abortions it was doing and that it should be killing 1,135 babies per year to make the financial goals set up for her clinic by Planned Parenthood’s head honchos.

“This was bothersome to me as I truly believed that our goal was to reduce the number of abortions…after all, that’s what we always said to the media,” Johnson said. “When I voiced my concerns to my supervisor, she laughed and said, ‘But Abby, abortion is how we make our money.’” “

Life News

Fed Appeals Court Panel Says Most Obamacare Subsidies Illegal

 

 

Obamacare Subsidies Illegal

 

 

 

” In a potentially crippling blow to Obamacare, a federal appeals court panel declared Tuesday that government subsidies worth billions of dollars that helped 4.7 million people buy insurance on HealthCare.gov are illegal.

  The 2-1 ruling said such subsidies can be granted only to people who bought insurance in an Obamacare exchange run by an individual state or the District of Columbia—not on the federally run exchange HealthCare.gov. The ruling relied on a close reading of the Affordable Care Act.”

 

 

 

CNBC can find no way to spin this crushing blow to Obamacare …

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Billionaire Warns: Yellen Collapse ‘Will Be Unlike Any Other’

 

 

 

 

” Another horrific stock market crash is coming, and the next bust will be “unlike any other” we have seen.

  That’s the message from Jeremy Grantham, co-founder and chief investment strategist of GMO, a Boston-based firm with $117 billion in assets under management. 

  Grantham pulls no punches when assigning responsibility for the coming financial carnage. In a recent interview with The New York Times, he calls Federal Reserve Chair Janet Yellen “ignorant” and says the Federal Reserve all but killed the economic recovery

  Grimly, he adds, “We have never had this before. It’s going to be very painful for investors.” 

  Grantham isn’t the only one worried about a market collapse. 

“ We have no right to be surprised by a severe and imminent stock market crash,” explains Mark Spitznagel, a hedge fund manager who is notorious for his hugely profitable billion-dollar bet on the 2008 crisis. “In fact, we must absolutely expect it.” 

  Billion-dollar investor Warren Buffett is rumored to be preparing for a crash as well. The “Warren Buffett Indicator,” also known as the “Total-Market-Cap to GDP Ratio,” is breaching sell-alert status and a collapse may happen at any moment. “

 

 

Money News

 

 

 

 

 

 

 

 

 

 

Crossings Trigger Anti-Immigration Rallies

 

 

 

 

” The influx of thousands of Central Americans into the U.S. has energized anti-illegal immigration activists who organized rallies across the country in recent days.

How can we afford to take care of other countries’ poor? Americans are going hungry without jobs and no one is attending to them,” said Herbert Baker, a chiropractor standing atop a highway overpass in Los Angeles hoisting an American flag and a sign that read “Stop Illegal Immigration.”

The Los Angeles protest was among 40 in southern California and hundreds held in the U.S., part of a national call for a crackdown on illegal immigration coordinated by a coalition of anti-illegal immigrant groups. Some rallies, including those in Little Rock, Ark., Dallas and Philadelphia, drew counter protesters.”

 

 

    In typical Obama/Liberal fashion the “answer” lies in spending … spending money that we don’t have to care for people we didn’t invite … Money that our veterans don’t get , only potential democratic constituents need apply … Corruption everywhere you look from our “most open , honest and transparent” administration .

 

 

” President Obama has asked Congress for $3.7 billion in emergency spending to respond to the crisis and lawmakers are weighing whether to amend a 2008 law to expedite deportations. The House and Senate are moving forward on separate bills with no clear deal in sight. On Friday, Mr. Obama is scheduled to meet at the White House with the presidents of Honduras, Guatemala and El Salvador to discuss ways to stanch the flow.

  In Texas’ Rio Grande Valley, the main entry point, federal officials and aid workers have reported that fewer than 100 minors a day were apprehended by border agents last week, compared with as many as 300 a day recently.”

 

Wall Street Journal

 

 

 

 

 

 

 

 

 

 

 

Electorate Awakens: Obama Gas And Mortgage Groupie Now Says He Lied About Everything

    Everyone remembers this viral video of Florida mother Peggy Joseph voicing her unqualified support for Santa Obama , the candidate that will pay her mortgage and put gas in her car , but just in case you’ve forgotten just how enthusiastic the woman was here is the video again …

 

 

 

   Fast forward six years and Ms Joseph is whistling a different tune . Documentary filmmaker Joel Gilbert located Peggy as part of his latest project “There’s No Place Like Utopia” and here is what she has to say after six years of “Hope & Change”.

 

 

 

 

” Remember that South Florida woman who had her fifteen minutes of fame claiming Obama would pay for her mortgage and gas?

  Before the 2008 election, she was filmed saying “I won’t have to worry about putting gas in my car, I won’t have to worry about paying my mortgage. If I help him, he’s going to help me!”

  Well, documentary filmmaker Joel Gilbert tracked down Peggy Joseph to see how all that hope and change is working out for her and six years later, she’s had a complete change of heart. After living through Obama’s failed economic policies, she now says “he lied about everything.” “

 

Read the rest

 

 

 

 

 

 

 

 

 

 

 

Why You Feel Poorer

 

 

costoflivingxpenses-7-1-14

 

 

 

 

” You feel poorer because you are poorer.

  In the last fourteen years, has your income increased over 50%? If you think it has, has it done so after taxes? Even if it has, you likely have not kept up in terms of inflation.

  If you are a retiree, living on fixed income, a pension or bonds, you certainly have become poorer. If you had bought the Dow-Jones on 12/31/1999 you would have entered at about 11,500. It closed last week at less than 17,100. That would have been an appreciation of 6,600, better than 50%. But, of course, that was before taxes.

  As a retiree, you have seen your purchasing power stolen by Fed policies. Whether you invested in fixed income or equities, you lost ground. Anyone in that position has seen their lives become poorer despite a lifetime of successful work and careful financial planning.”

 

 

    As it stands now , no matter how hard you work and save , you’ll never get ahead , not with the present monetary policies put in place at the behest of the Fed and the government . The authorities are systematically destroying all that the American public has worked so hard to attain . The American dream is not being killed by China … It is a victim of filicide

 

 

” For those still working, most are losing purchasing power each year. Wages are not keeping up with inflation, even the understated numbers reported by government. In short, the decline of a once-great economic power is well underway. The country is no longer growing enough to raise everyone’s standard of living.

  Government has killed the golden goose and in an attempt to hide the obvious is debauching the dollars. Government tries to hide their own failure with phony statistics and a welfare state designed to placate the masses. Bread and circuses are deceptions not progress.”

 

 

Read the rest

 

 

 

 

 

 

Martin Armstrong Warns Civil Unrest Is Rising Everywhere: “This Won’t End Pretty”

 

 

 

 

 

” The greatest problem we have is misinformation. People simply do not comprehend why and how the economic policies of the post-war era are imploding. This whole agenda of socialism has sold a Utopian idea that the State is there for the people yet it is run by lawyers following their own self-interest. The pensions created for those in government drive the cost of government up exponentially with time. The political forces blame the rich and this merely creates a class warfare with no resolution for the future. Even confiscating all the wealth of the so-called rich will not sustain the system. Consequently, we just have to crash and burn and start all over again.

  The exploitation by the bankers has been really a disaster. They have been their own worst enemy and in the end, they have become the symbol that inspires class warfare if not revolution. They are not the representatives of those who produce jobs. They are merely those who wanted to trade with other people’s money for free. When they win, it is their’s, but any losses are passed to the taxpayers. Bankers should be bankers – not hedge fund managers who keep 100% of the profits using other people’s savings.

 

 

For those who think the beginning was rough , just wait for the conclusion , It will be worse , much worse …

 

 

The solutions from politics will always be the same – grab more power. We are in a downward spiral of liberty and how far we go down this path to the future will be determined by the people and if they at least wise up and see this is not class warfare, it is the people against government. This is why I say career politicians are dangerous for they can be bought way too easily as Clinton was to open the flood gates for the bankers.

  This is not going to end pretty. The question is when does society wake up? Just how high will this price be that we have to pay? They will blame the rich and the idiots will cheer – get them. What will happen when there is no more wealth to hunt? We end up with a communist state by default – no wealth, just career politicians who blame everyone but themselves.”

 

Zero Hedge

 

 

 

 

 

 

 

 

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