February 12, 2016

Bits Bucket for February 12, 2016

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Comment by Professor Bear
2016-02-12 02:39:05

Were you spooked by Yellen’s testimony, too?

Comment by Professor Bear
2016-02-12 02:43:59

Here’s something new to someone who has long believed that probabilities lie strictly between zero and one: negative probabilities!

Comment by Professor Bear
2016-02-12 02:46:04

Interest rate futures see next Fed move being a rate cut
Jeff Cox
19 Hours Ago
CNBC dot com
Time for Fed to ‘return to normal’: Sen. Toomey

Following another round of financial market turbulence, fed fund futures contracts don’t see the Federal Reserve raising rates until at least February 2018 and in fact are pricing in a small likelihood of a rate cut.

Diminished expectations for rates come as investors worry that a global slowdown could send the U.S. into a recession this year.

Markets appeared to be in for another rough day Thursday, with stock market indicating the Dow Jones Industrial Average likely to decline 250 points off the open. Government bond yields also slumped, with the benchmark 10-year note hovering around 1.6 percent.

The futures market activity showed results Thursday out of the step with public proclamations from Fed officials, who have said they remain on course for a slow but steady path of rate hikes ahead.

The CME FedWatch tool to measure the probability of rate hikes actually turned negative for the near term Thursday, indicating a -6 percent chance for a March rate hike, a -7 percent change for June and all the way to -14 percent for September. The farthest date out the tool measures, February 2017, indicates a -12 percent chance.

Comment by Raymond K Hessel
2016-02-12 05:00:42

NIRP and QE4 are the only tools left to Yellen the Felon to try to force retail “investor” bagholders back into Wall Street’s rigged casino, with NIRP being the next logical escalation in the Fed’s War on Savers. The question is, will ‘Muricans meekly bend over and take it, per usual, or give the Fed and the corrupt financial system the finger by pulling their deposits and putting them into tangible assets like land, gold, and essential supplies to ride out the coming financial collapse.

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Comment by MacBeth
2016-02-12 05:44:26

Big Government is in Big Trouble.

Everywhere you turn, those who believe they are your betters are destroying your future.

And in a very real way.

No matter where you live, no matter your financial status.

Like it?

 
Comment by SV guy
2016-02-12 05:48:27

Comment by SV guy
2010-06-05 10:37:02
I didn’t mean to literally run somewhere.

My belief is our present system is unsustainable. Any revenue shortfall will be made up through QE. Unless we can exhibit some self control and pull the crack pipe from our lips Mr. Market will do it for us. We are rent-a-cops for a corrupt regime in Saudi Arabia. We are also the largest consumer of Chinese crap. These sovereign lenders have a vested interest in keeping this charade going. When the problems in their own countries become insurmountable and/or they realize it no longer makes sense the lending stops. Then the charade unravels at light speed. Thus my belief in converting pictures of dead presidents into something tangible.

Who really knows? I may be right, I may be wrong. Either way I end up with things I’ve always wanted anyway while continuing to forgo all debt.

YMMV

 
 
Comment by oxide
2016-02-12 13:51:37

Interest rate futures say

… is code for “CNBC strongly suggests.” I still remember those early 2000’s “headlines” from CNBC that said “Greenspan to cut interest rates again?” That question mark is their free pass to frame their own editorial suggestions as news.

Sen. Toomey

… has received $500K from the US Chamber of Commerce in 2016. (opensecrets) Yeah, no influence here.

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Comment by Professor Bear
2016-02-12 02:51:25

Also new: On CNBC, you can play armchair quarterback to the Fed’s rate hike decisions.

In hindsight, did the Fed make a mistake raising rates in December?

Yes
47%

No
53%
Total Votes: 14157

Not a Scientific Survey. Results may not total 100% due to rounding.

 
Comment by Professor Bear
2016-02-12 03:17:23

MarketWatch dot com
Japan stocks plunge to lowest point in more than a year
By Kosaku Narioka and Chao Deng
Published: Feb 11, 2016 11:54 p.m. ET
Nikkei down 20% this year; Hong Kong stocks near lowest since 2012
AFP/Getty Images
Japan’s market hit the ground hard Friday.

Japanese stocks were hammered Friday, sinking to their lowest level in more than a year as sharp declines overseas fueled investor anxiety.

The Nikkei Stock Average (NIK, -4.84%) was last down 3.8% at 15123.47, after dropping as much as 5.4% earlier. Japan’s market was closed on Thursday when most Asian shares tumbled, contributing to the global slump. The Nikkei, down 9% for the week so far, is on track for its worst weekly percentage performance in nearly five years. Its year-to-date decline of 20% is almost as steep as the losses in China’s mainland stock market, the epicenter of the global stock selloff at the start of the year.

Elsewhere Friday, shares eased off their lows of the day, but largely remained in the red. Hong Kong’s Hang Seng Index (HSI, -1.22%) was last down 0.5% at 18452.44, on track for its lowest close since mid-2012. Australia’s S&P/ASX 200 (XJO, -1.16% ) was down 0.8% and South Korea’s Kospi (SEU, -1.41%) fell 1.6%.

In Seoul, authorities suspended trading on the technology-heavy Kosdaq Index for 20 minutes after the benchmark fell by as much as 8.2% just before noon local time. The brake recalls similar triggers that stopped trading on the Chinese stock market earlier this year, as panic sent investors rushing for the exits. The Kosdaq benchmark was last off by 6.4%.

“We’ve seen some buying into the afternoon and perhaps that is a reflection that retail traders feel the Bank of Japan will be successful in waxing lyrical to stabilize the [Japanese yen] and the equity market,” Chris Weston, chief market strategist at brokerage IG in Melbourne, said.

Still, he said “the tone in Asia has generally been downbeat.” In Japan, Weston noted that volumes were up 120% above the 100-day average.

The Federal Reserve’s cautious stance on further rate increases has raised doubts about the global economy and led to the Japanese yen’s sharp rise against the dollar, which has pummeled expectations for the competitiveness of Japanese exporters and hurt Japanese stocks. The dollar was last up 0.4% at 112.86 yen, after falling to ¥110.99 on Thursday, the lowest level since Oct. 31, 2014, when the Bank of Japan shocked markets by boosting its current bond-buying program.

Japanese Finance Minister Taro Aso said Friday morning the yen’s moves have been rough and that rapid moves in the foreign-exchange market aren’t desirable. He said he would watch foreign-exchange markets with close interest.

Some analysts are now expecting additional easing from Japan in a close follow to last month’s announcement to move to negative interest rates. J.P. Morgan’s chief Japan economist, Masaaki Kanno, anticipates the Bank of Japan will cut its policy rate in March or sooner, to negative 0.5% from the current minus 0.1%, plus increase Japanese government-bond purchases. This is the best option given the turmoil in Japanese markets and strength of the yen, he said in a research note.

 
Comment by Professor Bear
2016-02-12 03:21:22

Irish Independent
European stocks deepen their losses
Colm Kelpie
12/02/2016 | 02:30
The relief rally that swept through Europe’s stock markets on Wednesday came to an abrupt halt yesterday, as shares slid for the eighth time in nine days and hit their lowest levels since September 2013.

By the close in Dublin, the ISEQ Overall Index was down 2.54pc, or 155.9 points, to end the trading day at 5,738.81.

The leaders on the Dublin market included recruitment firm CPL Resources, which increased 3.5pc to €6 while fruit company Fyffes increased 0.8pc to €1.28.

On the other side of the board, the laggards included shipping and transport group Irish Continental, which fell 5.7pc to €4.49, and Paddy Power, which dropped 5pc to €111.70.

Elsewhere, the Stoxx Europe 600 Index lost 3.7pc - the most since August - with more than 570 of its shares slumping.

 
Comment by Professor Bear
2016-02-12 03:25:12

Oil’s Drop Brings `Staggering Losses’ on Global Reserves: Chart
in Oil & Companies News 12/02/2016
oil_barrel_price.jpg

Plunging oil prices have cost energy-producing companies and countries tens of trillions of dollars worldwide through declines in asset values. The chart tracks the estimated value of proved reserves, based on annual data compiled by the U.S. Energy Information Administration and averages for a Bloomberg oil-price index. Figures for 2015 and 2016 are based on 2014 reserves, the most recent available, and don’t reflect any required cuts because of lower prices. Owners of these reserves have suffered “staggering losses” and are reacting “as surely as falling U.S. home prices affected consumer behavior in the last recession,” Millennium Wave Advisors LLC President John Mauldin wrote Saturday in areport.

Source: Bloomberg

Comment by Raymond K Hessel
2016-02-12 06:30:28

I suspect there are also staggering losses to the banks that sold hedges to oil producers and now have to make good on those money-losing derivatives.

Comment by Mr. Banker
2016-02-12 06:58:30

“I suspect there are also staggering losses to the banks that sold hedges to oil producers and now have to make good on those money-losing derivatives.”

Wrong. The banks will get a pass.

God’s Plan.

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Comment by Raymond K Hessel
2016-02-12 07:13:39

The staggering stupidity of the 95% ensures endless taxpayer bailouts of the banks, it’s true.

 
 
 
 
Comment by Professor Bear
2016-02-12 03:42:24

Ft dot com
Central Banks
Negative rates take banks through the looking glass
The Federal Reserve will need to play an astonishingly canny hand in the coming weeks
Gillian Tett
George Washinton, Dollar
yesterday

A few days ago, I attended a financial conference with a large collection of some of the most powerful and savvy asset managers in America. When asked to vote about the likely path of US interest rates, almost two-thirds of the participants suggested that the Federal Reserve would cut rates this year, rather than keep them neutral (or raise them).

Yes, you read that right. Less than two months ago, the Fed finally embarked on its long-awaited (and heralded) tightening move. It then signalled that it expected to see four rate rises this year. While investors did not entirely accept this, the Fed Funds futures market suggested that two, not four, rises were likely in 2016.

But if the group of investors I saw was representative (and I think they are), a US rate cut is now the majority view. Talk about a mood swing; this makes a teenager look consistent.

Is this justified? In economic terms, I would argue not. After all, the fundamental US economic data have not moved so wildly in recent weeks. On the contrary, as Janet Yellen, the Fed chair, pointed out in testimony to Congress on Wednesday, growth is still fairly steady and the wider global picture is far from disastrous. Unsurprisingly, she emphasised yesterday that she still thinks that rates are on a modest upward trend.

But what is also clear is that this swing in views does not just reflect macroeconomic signals. On the contrary, subtle shifts in global capital flows are creating volatility. Moreover, market sentiment is now displaying what George Soros has described as “reflexivity” — prices fall, so people get frightened, and then prices fall further.

Behind all this is a debate about whether the US could soon follow Japan and Switzerland and produce negative interest rates.

That used to be the stuff of late night bar-room chats between economists. But the fact that Japan has moved into negative territory (after Switzerland) has changed all that. Another development has also had an enormous symbolic effect: the Fed has just launched its annual stress test of the banks, and asked the largest ones to model for the first time how their balance sheets could look with negative rates. (Specifically, they have been asked to model an “adverse market scenario” where three-month treasury bills tumbled to minus 0.5 per cent for a long period.)

 
 
Comment by Professor Bear
2016-02-12 03:02:10

Has the current market turmoil tempted you to hoard a personal stash of the barbarous relic?

Comment by Professor Bear
2016-02-12 03:06:28

Barron’s
Feb. 12, 2016 12:01 a.m. ET
Gold Rally Won’t Last
The 17% rise in the price of the precious metal is a temporary side effect of the panic sweeping global markets rather than fear of inflation.
By Wayne Arnold

I’m reminded these days of a neighborhood in Ho Chi Minh City I stumbled into a few years ago full of shops that sold nothing but strongboxes. With inflation back then in the double digits, the currency plummeting and banks on the brink of failing, the strongboxes were for Vietnam’s savers to stash their gold.

After losing 30% of its value in the past four years, gold is enjoying a resurgence, climbing 17% so far this year. Investors are flocking to the barbarous relic not for fear of inflation, but rather as the world’s central banks fend off deflation with interest rate cuts that have fallen below zero in some economies, raising fears for the future of banks there.

Don’t fall for it. It’s all part of the swirling confusion between investors coping with their first U.S. interest-rate increase in almost a decade, and those trying to browbeat the Fed into reversing it. It will most likely end in a situation like last year’s, with funds flowing out of Asia and emerging markets back into the U.S. and its dollar until the global economy rights itself and, with investors disciplined by an end to cheap dollars, value investing returning to the fore.

It would make some sense to hold an inedible, incombustible commodity that bears no interest if the only alternative was parking your money in a bank that suddenly starts charging interest on deposits. But that isn’t the only alternative: there are bonds, which love deflation and are rallying amid the global gloom. And, for brave contrarians, there are stocks, which despite their current malaise should inflate upwards if the central banks debase their currencies or if doing so leads them to victory against deflation.

Comment by Raymond K Hessel
2016-02-12 06:31:45

When an oligopoly media outlet like Barrons tells you the gold rally won’t last, it’s time to buy with both hands.

 
Comment by salinasron
2016-02-12 09:31:12

“value investing returning to the fore”

I have not seen true ‘value investing’ in eons. The game goes on.

 
 
 
Comment by Professor Bear
2016-02-12 03:30:30

BloombergGadfly
Maersk’s Busted Hedge
By Chris Bryant

In “normal” times, AP Moeller Maersk’s oil production assets should provide a natural fuel-price hedge for its container shipping business, the world’s largest. But these aren’t normal times.

An 84 percent drop in Maersk’s 2015 profit revealed that its hedge isn’t working right now and the company’s big bet on oil and shipping has come unstuck.

CEO Nils Andersen has sold assets outside its core oil and shipping business — including stakes in Danske bank and Denmark’s largest supermarket group. The company’s left with mainly container shipping and freight terminals on the one hand, and oil production and drilling services on the other.

But that much tighter focus on oil and shipping currently looks unwise — the shares have slumped by more than half since March, suggesting investors agree.

Maersk’s hedge normally works like this: oil prices fall, depressing oil production earnings but boosting the profitability of shipping goods by sea, which requires lots of fuel.

One would also normally expect a slump in oil prices to accelerate global demand and therefore stimulate trade.

But neither of these things is happening right now, contributing to what Maersk called a “perfect storm” for the group.

“The low global economic growth with resulting low container freight rates and oil price has fundamentally changed the short term outlook of almost all of our businesses,” Maersk said.

What’s gone wrong? Container shipping companies ordered far too many large ships a couple of years ago, when global growth projections were rosier.

The global container fleet grew by around 8 percent last year but container demand was more or less flat. At Maersk, capacity increased by 0.5 percent year on year. Its cuts have already started, with a 2 percent decline in the fourth quarter from the third as it trimmed charter capacity.

That wasn’t enough to salvage its financials, though. Freight rates have tumbled and Maersk was forced to pass on fuel price savings to customers, contributing to a 15 percent slump in revenues last year.

Maersk is seen as a barometer of global trade so investors should be relieved that it does not see freight demand falling off a cliff: it expects global demand for seaborne container transportation to increase 1-3 percent in 2016. But due to overcapacity that won’t give the company as much of a boost as it would like.

Maersk can’t force rivals to remove surplus capacity from their fleets (although some are doing so). Losses and debts may eventually wheedle out some of the weaker players in container shipping but that process of attrition takes time given the natural reluctance of banks to recognize losses from financing unneeded ships. Meanwhile, there is also little hope that oil prices will recovery quickly.

 
Comment by The Selfish Hoarder
Comment by Professor Bear
2016-02-12 04:59:29

That would be similar in magnitude to the drop in the Chinese stock market indexes so far, wouldn’t it?

Comment by Raymond K Hessel
2016-02-12 08:48:32

China has been off-line all this week. Will be telling to see what Chinese markets do once they re-open on Monday.

Comment by Professor Bear
2016-02-12 09:07:38

I’m stocking up on extra popcorn for the stock market opening of the Chinese New Year.

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Comment by Raymond K Hessel
2016-02-12 10:50:34

Me too. I’m also expecting an epic Chinese flight to quality that sees physical gold sales soar as the average Chinese citizen loses faith in markets and governments.

 
 
 
 
Comment by Mafia Blocks
2016-02-12 06:23:49

“America’s National Debt Bomb Caused By The Welfare State”

http://www.zerohedge.com/news/2016-02-11/americas-national-debt-bomb-caused-welfare-state

Remember……. Fixed, rigged and bottlenecked prices result in cratering demand, record high unemployment and crushing national debt.

 
Comment by FrankBruno
2016-02-12 06:34:15

They’re all in for never letting this happen. They crossed the line in 2008 and no one cared. They were shocked. No.one.cared. Now it’s PPT and NIRP and QE as far as the eye can see.

Comment by Mafia Blocks
2016-02-12 06:54:11

….. which is why it is just gaining speed right now.

Look out below.

 
Comment by Raymond K Hessel
2016-02-12 07:19:28

They crossed the line in 2008 and no one cared.

It’s worse than that. 95% of the electorate couldn’t bend over and spread their cheeks fast enough for the Oligopoly by voting for Wall Street water carriers and pro-bailout Republicrat hollow men Obama, McCain, and Romney. Think about that: 95% of the electorate implicitly supported endless bailouts of Wall Street with taxpayer dollars and the Fed’s debasement of the currency.

You can’t fix stupid. We are well and truly buggered.

Comment by FrankBruno
2016-02-12 07:52:09

This is a fair point. People wanted the bailouts and QE and pumping to keep their house values high. Put to a vote it would pass overwhelmingly. Very few will not vote for “free money.”

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Comment by Oddfellow
2016-02-12 07:57:06

Put to a vote it would pass overwhelmingly. Very few will not vote for “free money.”

Isn’t that the underlying logic of the existence of the Fed?

 
Comment by Raymond K Hessel
2016-02-12 08:22:17

Read “The Creature from Jekyll Island” if you have a sincere interest in understanding the underlying logic of the Fed. The Federal Reserve from its inception was designed to be the oligarchy’s chief instrument of plunder against the 99%, working with Wall Street to create boom-bust cycles to concentrate all wealth and power in the hands of a venal and corrupt .1% in the financial sector, while dumbing down the population to the point of passive acquiescence.

Mission accomplished….

 
Comment by Oddfellow
2016-02-12 08:40:30

So should our monetary policy be set democratically or by some semi-democratic or non-democratic institution, raymond ?

 
Comment by Raymond K Hessel
2016-02-12 08:50:45

We shouldn’t have private banking cartels running our central bank. That institution needs to be independent but accountable to We the People. The Fed is neither.

 
Comment by Oddfellow
2016-02-12 08:58:25

That institution needs to be independent but accountable to We the People

How?

 
Comment by The Selfish Hoarder
2016-02-12 20:52:35

Note that the case against private owned banks is not an argument against capitalism, but an argument against crony capitalism. Fractional reserve banking is the criminal feature of the Federal reserve. It’s fraud and made legal only because of government dictates. If we had no central currency but privately minted currency the fractional reserve system would not last year.

 
 
 
Comment by Professor Bear
2016-02-12 08:14:21

Isn’t Bernie Sanders one of the few Senators to stand up to bailouts?

 
 
Comment by The Central Scrutinizer
2016-02-12 08:26:19

Sounds about right.

 
Comment by Mafia Blocks
2016-02-12 09:47:04

A 40% correction in the S&P sounds about right.

 
 
Comment by Raymond K Hessel
2016-02-12 04:44:21

Our society is sinking deeper into a cesspool of corruption, as our political class and institutions become a reflection of an increasngly debased and amoral population, i.e. 100% of Democrat voters who willfully enable and abet corruption, graft, and moral relativism.

http://america.aljazeera.com/articles/2016/2/11/ex-la-sheriff-pleads-guilty-to-lying-during-corruption-probe.html

Comment by MacBeth
2016-02-12 06:02:59

Ethics and morality trump law.

None of the political class/institutional corruption will get checked without society’s voluntary acquiescence to that fundamental law.

The absence of law doesn’t make anything automatically permissible.

In fact, it’s often the opposite.

Comment by Raymond K Hessel
2016-02-12 06:36:13

When 95% of the population is stupid, ignorant, and amoral, preventing the former Republic to devolving into an oligarchy is impossible.

“If a nation expects to be ignorant and free . . . it expects what never was and never will be” (Thomas Jefferson, Letter to Colonel Charles Yancey, January 6, 1816.)

 
Comment by Raymond K Hessel
2016-02-12 06:38:39

“Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.” (John Adams, October 11, 1798.)

Comment by MacBeth
2016-02-12 07:12:04

Exactly and precisely right.

I’m pleased that you exist, Ray.

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Comment by Raymond K Hessel
2016-02-12 07:23:13

And I’m pleased to have you in my corner, MacBeth. Among the shuffling, dead-eyed zombie hordes, it’s good to see another awake, aware soul still carrying the fire.

 
Comment by Oddfellow
2016-02-12 07:32:16

How sweet. Two repeating robots have found each other. A match made in heaven!

 
Comment by FrankBruno
2016-02-12 07:54:03

Oddfellow simply hates America.

 
Comment by Oddfellow
2016-02-12 07:58:43

I hardly think challenging a robot who endlessly repeats that democracy will not work constitutes hating America. Quite the opposite, really.

 
Comment by Raymond K Hessel
2016-02-12 08:12:00

What won’t work is mobocracy, where a debased, amoral, ignorant, and feckless majority vote themselves benefits that the producers and the honest have to pay for. Rome fell for that reason, and we are going down the same road to ruin.

 
Comment by Oddfellow
2016-02-12 08:20:33

, where a debased, amoral, ignorant, and feckless majority vote themselves benefits

This message brought to you by the kremlinbots at Russia Times.

 
Comment by Raymond K Hessel
2016-02-12 08:52:48

The Founding Fathers had quite a bit to say about it too, moron.

 
Comment by Oddfellow
2016-02-12 09:10:09

That’s why they wrote the Constitution, and why we don’t have a direct democracy.

 
 
 
Comment by Oddfellow
2016-02-12 07:15:37

Ethics and morality trump law.

What does that mean? Give us a real world example.

Comment by Raymond K Hessel
2016-02-12 07:24:41

Are you a Zika baby? Not judging, just asking.

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Comment by Oddfellow
2016-02-12 07:37:22

Blah, blah, blah. A bunch of Bastiat quotes complaining about the law being misused.

But I want a real world example of how and when morality and ethics should trump the law. Let’s hear it, if you robots are capable of thinking for yourselves, instead of mindless repetition and irrelevant quotes from others.

 
Comment by In Colorado
2016-02-12 07:52:56

But I want a real world example of how and when morality and ethics should trump the law.

Indeed, the reason we have to have laws is because people either don’t have morals and ethics or they have different definitions of what is moral and ethical.

 
Comment by Raymond K Hessel
2016-02-12 08:01:33

But I want a real world example of how and when morality and ethics should trump the law.

The Nazis were scrupulously legalistic as they went about rounding up Jews and other “undesireables” and committing mass murder. Everyone involved was “just following orders” and the entire process was codified with the requisite statutory and legal authorities and laws. Perhaps morality and ethics, aka common decency, could have trumped the Nuremburg Laws, no?

 
Comment by Oddfellow
2016-02-12 08:14:06

The Nazis were scrupulously

Godwin’s Law. I win! (Thanks for not even trying, tj).

 
Comment by Professor Bear
2016-02-12 08:17:08

We may soon have to watch Trump zombies similarly round up undesirables by his definition.

 
Comment by butters
2016-02-12 11:02:25

We may soon have to watch Trump zombies similarly round up undesirables by his definition.

But don’t we already kill millions of undesirables by means of wars/abortion, what have you?

 
Comment by Oddfellow
2016-02-12 11:08:04

But don’t we already kill millions

Wow. The rationalizations for the roundups is already starting.

 
 
Comment by Raymond K Hessel
2016-02-12 07:26:41

“Sometimes the law defends plunder and participates in it. Sometimes the law places the whole apparatus of judges, police, prisons and gendarmes at the service of the plunderers, and treats the victim — when he defends himself — as a criminal.”

– Frederick Bastiat

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Comment by Raymond K Hessel
2016-02-12 07:28:25

“Legal plunder can be committed in an infinite number of ways; hence, there are an infinite number of plans for organizing it: tariffs, protection, bonuses, subsidies, incentives, the progressive income tax, free education, the right to employment, the right to profit, the right to wages, the right to relief, the right to the tools of production, interest free credit, etc., etc. And it the aggregate of all these plans, in respect to what they have in common, legal plunder, that goes under the name of socialism.”

– Frederic Bastiat

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Comment by MacBeth
2016-02-12 07:53:05

“And I’m pleased to have you in my corner, MacBeth. Among the shuffling, dead-eyed zombie hordes, it’s good to see another awake, aware soul still carrying the fire.”

Ben Carson is a rather remarkable individual.

 
 
Comment by Raymond K Hessel
2016-02-12 07:29:37

“The more corrupt the state, the more numerous the laws.”

–Tacitus

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Comment by MightyMike
2016-02-12 07:43:13

It’s hard to say what he’s getting at with that statement. It’s possible that he think that ethics and morality are more important than law. That’s OK. He’s entitled to his opinion. They’re two separate realms anyway.

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Comment by Oddfellow
2016-02-12 07:55:45

It’s the “trump” (small t) part that I’m trying to get him to explain, if he’s capable. Is he suggesting mob violence and vigilantism?

 
Comment by MacBeth
2016-02-12 07:59:45

Rather than providing a response to that, I think I will let you think about it for a while.

 
Comment by Raymond K Hessel
2016-02-12 08:02:56

MightyMike and “thinking” - what’s wrong with this picture?

 
Comment by Raymond K Hessel
2016-02-12 08:10:16

It’s hard to say what he’s getting at with that statement.

No, Mikey, it’s not hard at all to say what he’s getting at - it’s rather simple, even for a simpleton like you. He’s saying that you can’t legistlate morality - in any healthy society people are essentially self-governing because they have an innate sense of right and wrong and try to do the right thing even when nobody’s looking, or when it costs them. That’s basic integrity. On the other hand, if you have a society where the great mass of people have become amoral and feckless, you can pass all the laws you want but it will do little to deter wrongdoing, since the population has become debased and corrupt. We are now at or past that point as a nation. The intelligent, moral 5% cannot continue to sustain and defend our liberty or the Republic when the vast majority of the populace, and 100% of registered Democrats, is better suited for an oligarchical plantation presided over by rapacious neofeudal robber barons.

 
Comment by Oddfellow
2016-02-12 08:25:26

I think I will let you think about it for a while.

That’s tj for you. When challenged to explain the ideas he reads somewhere else and breathlessly repeats here, he’s incapable and retreats into tj world: “I know, but you have to guess.”

Weak.

 
Comment by Oddfellow
2016-02-12 08:30:46

We are now at or past that point as a nation.

So when, where, and how should morality and ethics be trumping the law?

 
Comment by MightyMike
2016-02-12 09:27:18

No, Mikey, it’s not hard at all to say what he’s getting at - it’s rather simple, even for a simpleton like you. He’s saying that you can’t legistlate morality - in any healthy society people are essentially self-governing because they have an innate sense of right and wrong and try to do the right thing even when nobody’s looking, or when it costs them.

Well, maybe it’s clear to you because you and he have the same crackpot right wing ideology. If you’re correct about his meaning, he’s misusing the word trump.

 
 
 
 
Comment by FrankBruno
2016-02-12 06:37:05

Which is why Trump and Sanders are doing so well. Both are disrupters of entrenched networks and systems.

Do you want open borders Bernie or a wall?

Rush said it best “if you chose not to decide you still have made a choice.”

Comment by Oddfellow
2016-02-12 07:22:47

or a wall?

Why should we spend billions to wall them out and us in if we could accomplish the same thing far cheaper by enforcing immigration law on employers?

Sounds like a schtick for the suckers. “A big, beautiful wall, and they’ll pay for it.”

Comment by FrankBruno
2016-02-12 07:47:08

Why not both? Why not end birthright citizenship also? Why not learn English? Why not do everything you can?

Mandatory everify? Hire an illegal nanny or gardener go to jail?

But you’re not really for any of this. You want open borders and the flood of new voters shuffled onto the liberal plantation right?

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Comment by Oddfellow
2016-02-12 08:10:47

Why not both? Why not…

Why does Trump never mention these easily-done things and instead only focus on the most fantastic, expensive and unlikely option?

Is it because the easily done things would get him and his fellow 1%ers busted, while the wall is a great ruse for the rubes?

 
Comment by The Central Scrutinizer
2016-02-12 08:32:21

Trumplings bemoaning the stupidity of others… That’s a rich vein of comedic irony.

 
Comment by FrankBruno
2016-02-12 17:43:15

He does mention those things. You just get your info from left wing blogs. You’ve never listened to a whole speech of his. You’ve never read the book he put out. You want to stay comfortably in denial and ignorance.

 
Comment by MightyMike
2016-02-12 17:58:24

He wrote about immigration law in one of his books? Which book was that?

 
Comment by Oddfellow
2016-02-12 18:29:21

Show us the quotes.

 
 
 
Comment by Raymond K Hessel
2016-02-12 07:32:32

Rush said it best “if you chose not to decide you still have made a choice.”

There is something to be said for withdrawing the consent of the governed by refusing to participate in Wall Street’s Republicrat puppet show, if Bernie or Trump or not the nominees.

Comment by Hi-Z
2016-02-12 08:36:55

What exactly is gained by “withdrawing the consent..” by not voting? No matter how many withdraw their consent there will always be a winner who will govern you along with everyone else.

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Comment by The Selfish Hoarder
2016-02-12 10:03:02

I will tell you how it feels to quit voting. My conscience is clear by not voting. OTOH, I voted for GWB in 2004. I will forever feel guilty about that. I had no right to complain about Bush because I voted for him and he screwed the pooch.

Every ruler the U.S. had screwed up in some way, but the sheep still vote.

 
Comment by butters
2016-02-12 10:49:26

What is gained by voting?

 
Comment by The Selfish Hoarder
2016-02-12 18:55:18

What is gained by voting?

No gain at all. Look at the results - Congress and the presidents since the death of LBJ were all authoritarians and crooks.

 
Comment by The Selfish Hoarder
2016-02-12 20:07:23

since the death of LBJ

I mean since the death of JFK.

Which reminds me. We have a shadow government. The doofuses on the HBB who think Trump or Sanders will keep true to their word are in a huge denial.

The NSA runs the show. Glenn Greenwald’s book “No Place to Hide” makes that case. There are no real small government right wing politicians. There are no peace-loving left wing politicians. But they all want to grab your firearms.

Voting is futile. The best case for not voting is to show you know who really rigs the system. Otherwise remain fooled.

 
 
 
Comment by Professor Bear
2016-02-12 09:03:57

Did Sanders actually advocate for open borders, or is that yet another one of the whoppers you regularly pimp here?

Comment by Jimmy Carter is Hitler
2016-02-12 11:26:15

“As president, I will fight for comprehensive immigration reform that provides a roadmap to citizenship for the 11 million aspiring Americans living in this country. But I will not wait for Congress to act. I will take executive action to accomplish what Congress has failed to do and build upon President Obama’s executive orders to unite families.”

Bernie Sanders, Dec. 30th 2015

He makes it sound noble but essentially he’s going to double down on what Obama’s been doing. Some will like that some will not but there it is.

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Comment by cactus
2016-02-12 12:21:41

What would happen if we opened the boarder but nobody came ?

“For the first time in more than four decades, more Mexican immigrants are returning to their home country than coming to the United States, according to a report released Thursday.

From 2009 to 2014, an estimated 870,000 Mexicans came to the United States while 1 million returned home, a net loss for the United States of 130,000, according to the report from the Pew Research Center. That historic shift comes at a time when immigration has become a contentious focal point in the 2016 presidential race, as Republicans and Democrats argue over how best to modernize the nation’s immigration system.”

 
Comment by FrankBruno
2016-02-12 17:45:51

If you think nobody’s coming still, you are delusional. Very. And the Pew Research center is garbage.

 
 
 
Comment by Professor Bear
2016-02-12 09:05:40

Rush is a narcotics junkie.

Comment by FrankBruno
2016-02-12 17:48:39

Are you that clueless ? Do you think I’m quoting Rush Limbaugh? Your credibility is zero. Biased out of touch California “Professor”. Are you really a CA state employee? It would explain a lot.

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Comment by MightyMike
2016-02-12 18:02:20

It was a reasonable guess on his part. A Google search suggests that you were referring to the Canadian band. That’s just as bad, if not worse. They’re crackpot words were set to lousy music. Limbaugh just speaks his nonsense.

 
 
 
 
 
 
Comment by Raymond K Hessel
2016-02-12 04:47:58

Another corrupt, maladministered socialist banana republic runs out of other people’s money. Watch and learn, ‘Muricans. This will be us once Comrades Pelosi and Wasserman-Schultz get their permanent Democrat supermajority and producers get feed up with seeing the fruits of their labor expropriated by the takers. Forward!

http://www.theguardian.com/world/2016/feb/12/venezuela-under-economic-emergency-as-court-gives-maduro-decree-powers

Comment by MacBeth
2016-02-12 06:09:04

By its very nature, law corrupts.

More laws = more corruption.

A very simple concept.

Our very own Federal Government pumps out thousands upon thousands of new regulations every year. It’s no wonder that the speed at which our society rots is accelerating.

Regulation upon regulation makes life unlivable.

 
 
Comment by Raymond K Hessel
2016-02-12 04:54:44

While the Oligopoly and its political prostitutes always couch their gun control agenda in terms of “keeping guns out of the hands of criminals” rather than disarming the population, they always show their true colors by refusing to come down hard on criminals involved in firearms theft or illicit weapons trafficking.

http://bearingarms.com/thief-stole-85-guns-receives-probation-plea-deal/?utm_source=BearingArms1_7&utm_medium=story&utm_campaign=BearingArms1

Comment by MacBeth
2016-02-12 06:21:59

In Chicago, it’s the gangs who bring in the Democrat votes.

Therefore, the rampant murder taking place in that city will never be addressed.

That’s who Democrats are. If they need to stomp on your neck to get their way, they will.

One should not forget that there are liberals on this HBB board who have openly admitted that they will do what they can to drown out the opinions of those who disagree with them…..even when the topic is about “diversity”.

Only a fool would believe that last paragraph (above) ironic.

Comment by rj chicago
2016-02-12 14:41:14

MacB -
You have to live here in Chicago ILLANNOY to truly understand why the chillin are shooting one another up and why obama, Jarrett, Axelrod, Hitlery and the rest of the dem o c rat class exported from this place to plague Murika are the way they are.
Don’t move here - you will hate it.
By the way - lo tonight - 0 degrees with negative windchills. Another reason not to move here.

 
 
 
Comment by Raymond K Hessel
2016-02-12 05:04:10

Will the Obama Zombies, McCain Mutants, and Romney Retards confess to being stupid dupes of the Oligopoly? Will HillaryJebRubioCruz supporters confess to same?

http://news.yahoo.com/pope-unleashes-super-confessors-tackle-special-sins-164359990.html

 
Comment by Raymond K Hessel
Comment by palmetto
2016-02-12 07:50:35

Oh, no, that conflict will NOT be without end. By all accounts, Putin has had it with Warshington. He won’t go nuclear, he’ll go EMP. And that’s when the EBT cards stop working for real, along with anything else related to electronics and communications, neutralizing any retaliation. And if they think it can’t happen, Warshington should just keep poking that bear.

Comment by In Colorado
2016-02-12 08:05:28

And that’s when the EBT cards stop working for real, along with anything else related to electronics and communications, neutralizing any retaliation.

The military’s communications are EMP resistant. I think that Russia knows that an EMP attack on the US will provoke a direct retaliation, possibly nuclear. Russia will stick to its proxy war by bombing “our allies” in Syria. It’s safer and it annoys the hell out of Washington.

I will agree that poking the Bear is a very bad idea. Corner the Bear and it might lash out. Which is why proxy wars are the safer choice. The only people who get bombed are foreign brown people and our good EU friends have agreed to accept them as “refugees”. It’s all good.

Comment by palmetto
2016-02-12 09:36:17

“The military’s communications are EMP resistant.”

I don’t doubt they may think they are EMP resistant, but I have my doubts as to the actuality. Of course, this is based on the many instances of screw ups in weaponry and government’s use of technology, such as healthcare.gov, the personnel dept, Hillary’s home brew server, Chinese hacking, etc. Also the outcomes of the Pentagon war games:

https://cofda.wordpress.com/2015/10/04/u-s-repeatedly-loses-in-pentagon-war-games-against-russia/

If they went low bid in letting the contract, then for sure the military’s communications are not EMP resistant.

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Comment by cactus
2016-02-12 12:30:17

“The military’s communications are EMP resistant.”

Different than being EMP proof.

 
Comment by In Colorado
2016-02-12 13:18:46

“The military’s communications are EMP resistant.”

Different than being EMP proof.

I suppose some might go down, but I really doubt we would be unable to retaliate.

 
 
 
Comment by Oddfellow
2016-02-12 08:37:15

And if they think it can’t happen, Warshington should just keep poking that bear.

You sometimes give the impression that you’d like to see Russia defeat the US militarily. Or at least give us a good whooping.

 
 
 
Comment by Raymond K Hessel
2016-02-12 05:10:28

Sorry, Bernie, but 95% of the people are indeed dumb.

http://www.breitbart.com/big-government/2016/02/11/3013321/

Comment by phony scandals
2016-02-12 08:09:31

“Let’s not insult the intelligence of the American people. People aren’t dumb,” Sanders said.

Barney I Love You Song [Best Original HQ] - YouTube
http://www.youtube.com/watch?v=Uq734_nZ7Eo - 175k -

I love you You love me
Wall Street owns old Hillary
With a great big hug and a kiss from me to you.
Won’t you say you love me too

I love you You love me
I will give you sh#t for free
With a great big hug and a kiss from me to you.
Won’t you say you love me too

I love you You love me
Cops are racist can’t you see
With a great big hug and a kiss from me to you.
I will empty jails too

Comment by Raymond K Hessel
2016-02-12 08:27:19

“Let’s not insult the intelligence of the American people. People aren’t dumb,” Sanders said.

In 2008 and 2012, 95% of ‘Muricans voted for the water carriers of the oligarchs and Wall Streeters who were screwing them nine ways to Sunday. For members of the 99%, casting votes for these captured, co-opted annointed ones of the .1% was a supreme act of stupidity.

The prosecution rests….

Comment by The Central Scrutinizer
2016-02-12 08:34:30

The prosecution is a broken record with delusions of adequacy.

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Comment by Oddfellow
2016-02-12 08:46:36

A repeating robot of anti-democracy.

 
Comment by Raymond K Hessel
2016-02-12 08:57:12

Oddly, neither of you gentlemen can contest my basic premise: that members of the 99% who vote against their own interests and for those of a corrupt and venal .1% in the financial sector are stupid.

 
Comment by Oddfellow
2016-02-12 09:06:38

neither of you gentlemen can contest my basic premise

I question your rationale for endlessly repeating your basic premise.

 
Comment by phony scandals
2016-02-12 09:17:35

Obama orchestrated a massive transfer of wealth to the 1 percent

By Michael Gray
January 17, 2016 | 6:00am

When people use the term Great Recession, they are playing into the charade laid out by Federal Reserve and the Treasury Department.

The years 2008 through 2015 should be known as the Great Fleecing.

During that time, the greatest transfer of wealth in the history of the world occurred. Some $4.5 trillion was given to Wall Street banks through its Quantitative Easing program, with the American people picking up the IOU.

This is the primary reason the US economy has not been able to recovery from the bank implosion of 2008.

Surely if you inject $4.5 trillion into the economy, you will get economic growth. You will get a 4% to 5% increase in Gross Domestic Product for at least a year or two.

Yet the Obama administration is the first two-term presidency that has not posted a 3% GDP growth on an annualized basis for 8 years. Even Franklin Delano Roosevelt posted 3% growth year during the Great Depression

That’s because the $4.5 trillion was not given to any infrastructure program — it was given to banks, under the misguided notion that they needed the money to remain solvent. The banks promptly invested this money, which kept the stock market humming, but did nothing for jobs, wages or the GDP.

This was by design. The Fed could not allow the bank’s largesse to be circulated into the public for fear of rapid inflation.

The banks also funded company mergers, company debt offerings and stock buybacks. This activity kept the money sequestered and allowed a greater return for the banks. After all, they were getting free money to invest — there was no way to lose.

Who did this help? The 1%, and pretty much only the 1%.

These actions are the reasons the American middle class has been decimated and no longer makes up the majority of the population.

If liberals are angry about inequality, they should look no further than President Obama. He has done more to contribute to the gap between rich and poor than anyone.

The middle class has seen the wholesale export of good-paying jobs, while on the hook for crushing mortgages and higher taxes to pay down the growing US debt to fund the banks.

Is it any wonder that in all of the 3,007 US counties, parishes and territories just over 50% of the population in each county is on government assistance of some sort?

Now comes the punch line. After the Fed finally decided to stop the QE program, asset bubbles are growing weak and some say about to pop. The stock market is in correction mode — off more than 10% from its highs last year. After seven years of getting no interest on your savings, after little opportunity for job advancement and raises, now your 401(k) will take a hit anyway.

The US has “the strongest, most durable economy in the world,” Obama boasted Tuesday. But only for the few.

 
Comment by Oddfellow
2016-02-12 09:27:50

Sending in the deflectors! Hi phony. Where are you misdirecting us today?

 
Comment by Mafia Blocks
2016-02-12 09:43:59

Did you expect anything else from The Obama Kremlin?

 
Comment by Raymond K Hessel
2016-02-12 10:57:40

I question your rationale for endlessly repeating your basic premise.

When people like you cease to be stupid, I’ll no longer feel the need to endlessly repeat my basic premise.

 
Comment by Oddfellow
2016-02-12 11:06:51

So endlessly repeating that Americans are too stupid and greedy for democracy to work will somehow make people less stupid and greedy and democracy will then work? Is that the plan?

 
Comment by Raymond K Hessel
2016-02-12 16:29:20

What I’m pointing out is that people who vote for the status quo have no right to complain about the status quo. Yet I hear them do it all the time, and it’s tiresome. So if you voted for Obama, McCain, or Romney, then you whine incessantly about the direction the country is headed in, the only fitting course of action is for you to STFU and voluntarily abstain from voting, since it’s sadly obvious, but obvious nonetheless, that you lack the intelligence or judgement to be entrusted with that civic responsibility.

 
 
 
 
 
Comment by Goon
2016-02-12 05:10:59

This article is linked from Drudge Report, at the top of the center column below the headline, with a title that Drudge chose to call “CIA Director says ISIS has WMDs”

http://news.yahoo.com/cia-director-says-group-used-chem-weapons-003949116.html

Remember 2002-2003? I do. And you’re getting played again the same way.

No smaller government or less regulation or lower taxes happening here.

Neocons gonna neocon.

Comment by Goon
2016-02-12 05:20:08

Israeli spy and war criminal William Kristol provides an anti-Trump narrative titled “He’s Beatable.” American taxpayers, are you happy with Kristol’s influence on foreign policy? Do you care that he is an agent of the Likud Party? Did you forget that the national debt is now twenty trillion dollars?

http://www.weeklystandard.com/hes-beatable/article/2001039

Neocons gonna neocon.

Comment by Raymond K Hessel
2016-02-12 05:29:38

We must help bring “fundamanetal transformation” to the Middle East, then resttle the millions of embittered, traumatized refugees flowing out of ruined countries to Europe for more “fundamental transformation.”

 
 
Comment by MacBeth
2016-02-12 06:29:22

NeoCons = Progressives

You have the NeoCons trumpeting War (includes many on the left) while the Progressives trumpet Domestic Imperialism via taxes, trade deals, political correctness (includes many on the right).

So much for freedom and your personal well being, eh?

NeoCons = Progressives. An HBB equivalency dating to October 2012. Forty months and counting.

Comment by The Selfish Hoarder
2016-02-12 10:11:37

An older fuzzy headed “progressive” I know works in the defense industry and is a badge licker and for strict gun control. He fits your idea that NeoCons = Progressive.

Years ago “the worlds smallest political quiz” called this type of statist “populist.” It is a term that fits Sanders and Trump. The funniest thing is that Trump and Sanders have remarkably similar platforms yet their worshippers will tell you they hate each other.

Comment by FrankBruno
2016-02-12 17:52:50

A progressive badge licker? Most progressives hate cops. And most badge lickers are not for gun control. They are NRA members.

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Comment by The Selfish Hoarder
2016-02-12 18:53:18

A progressive badge licker? Most progressives hate cops. And most badge lickers are not for gun control. They are NRA members.

You are thinking back in time to the “progressives” of the 1970s. Macbeth noticed and I noticed there is a big cross pollen of the “progressives” and NeoCons the last 15 or 20 years. I’ve known lieberals working in the DOD since the 1980s.

 
 
 
 
 
Comment by Raymond K Hessel
Comment by The Selfish Hoarder
2016-02-12 09:56:48

Even JPM is recommending cash and gold.

Comment by cactus
2016-02-12 12:56:03

If things get really bad for awhile and precious metal money has to be used it maybe hard to get change for a Gold coin at valued 1200 bucks.

In that situation Silver coins would come in handy. Old US money was all silver. A couple pounds of “junk” silver coins won’t take up too much room.

junk because its all worn down not collectible.

Comment by The Selfish Hoarder
2016-02-12 18:51:00

If things get really bad for awhile and precious metal money has to be used it maybe hard to get change for a Gold coin at valued 1200 bucks.

This is why I’ve switched to buying mostly fractionals, quarter ounce golds.

I have hundreds of silver dollars and don’t want any more

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Comment by Raymond K Hessel
2016-02-12 05:13:19

Is this what’s behind cheap oil?

http://www.counterpunch.org/2014/12/16/the-oil-coup/

Comment by In Colorado
2016-02-12 11:28:31

So what exactly did the Saudis get out of this “deal”? Besides budget deficits?

Comment by rms
2016-02-12 16:46:41

Washington’s tacit approval for more Saudi funding of Wahhabi extremism.

 
 
 
Comment by Raymond K Hessel
2016-02-12 05:16:42

Greed has turned to fear in the markets as even the dullest of the sheeple are starting to figure out that putting Keynesian fraudsters in charge of our monetary politicies and money issuance wasn’t such a hot idea.

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/12151847/Market-panic-pushes-gold-buying-to-highest-level-since-financial-crisis.html

 
Comment by Raymond K Hessel
2016-02-12 05:20:19

Now that the Fed and central banks have blown more than $16 trillion in printing-press “stimulus” to try to hold off the financial reckoning day, how will they deal with the coming crash?

http://kingworldnews.com/gerald-celente-the-global-crash-of-2016-will-be-twice-as-devastating-as-the-2008-collapse/

Comment by Combotechie
2016-02-12 06:55:08

“… how will they deal with the coming crash?”

With infinite wisdom, as always.

Comment by MacBeth
2016-02-12 07:25:15

Well, they are your betters.

 
 
 
Comment by Raymond K Hessel
2016-02-12 05:30:54

B…b…but I thought Greece and the Eurozone were fixed. CNBC said so.

http://www.zerohedge.com/news/2016-02-12/greece-slides-back-recession-amid-riots-rewewed-grexit-calls

 
Comment by Jimmy Carter is Hitler
2016-02-12 05:45:13

Sea levels rising = climate change

Sea level not rising = even bigger climate change!

No matter what happens or doesn’t happen regarding the Earth’s climate, it is evidence of climate change.

http://news.yahoo.com/parched-earth-soaks-water-slowing-sea-level-rise-231245199.html

Comment by MacBeth
2016-02-12 06:34:26

Global warming simply is a tool used by various governments to grow and expand domestic imperialism.

In other words, to strip power, wealth and freedom from their own citizenry.

The jig is just about up. Citizenry everywhere has just about had it.

Comment by Raymond K Hessel
2016-02-12 07:46:36

The jig is just about up. Citizenry everywhere has just about had it.

I heard the same thing in 2008 when Congress was debating TARP (the Wall Street bailout) and calls from the proles were running 99 to one against the bailout. Then 95% of those same proles (or at least of the 30% who actually voted) turned around and voted for Wall Street water carriers Obama, McCain, and Romney. So I think you are over-estimating both the intelligence of the citizenry, aka the sheeple, and grossly underestimating their readiness to bend over on demand for their .1% masters.

Comment by Oddfellow
2016-02-12 08:48:00

This message brought to you from the Kremlin.

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Comment by Raymond K Hessel
2016-02-12 09:06:01

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

–Thomas Jefferson, Kremlin Spokesman

 
Comment by Oddfellow
2016-02-12 09:14:20

Ooh, a quote to hide behind! Did Thomas Jefferson think the American public was too stupid for democracy to work?

 
Comment by MightyMike
2016-02-12 09:55:46

Jefferson almost certainly never made any such statement. The word inflation wasn’t used in that sense in his day.

http://www.snopes.com/quotes/jefferson/banks.asp

 
Comment by phony scandals
2016-02-12 11:18:27

Nothing says Soros like snopes.

 
Comment by Oddfellow
2016-02-12 11:29:16

Nothing says Soros like snopes.

It’s just like all those darn lying scientists!

 
Comment by Neuromance
2016-02-12 18:09:44

Although these statements likewise lack documentation establishing them as authentically Jeffersonian, the former is a reasonably close paraphrase of the closing sentence in Jefferson’s 28 May 1816 letter to John Taylor:

And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

http://www.snopes.com/quotes/jefferson/banks.asp

 
 
 
 
Comment by Combotechie
2016-02-12 06:53:11

Does this mean that the planet’s sea level is not destined to rise over fifteen feet over the next fifty years as some have predicted?

Will children still be born with webbed feet?

Comment by Oddfellow
2016-02-12 07:28:36

Will children still be born with webbed feet?

The interest you claim to have in science seems more like an interest in smearing and distorting science. But I’m sure it’s for a higher purpose. Like a paycheck.

Comment by Jimmy Carter is Hitler
2016-02-12 07:45:53

Scientists get paychecks. Paychecks that are funded through grants issued from governments that seek to use climate change as an excuse for growing its power and control over the economy.

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Comment by phony scandals
2016-02-12 09:06:33

Scientist leading effort to prosecute climate skeptics under RICO ‘paid himself & his wife $1.5 million from govt climate grants for part-time work’

By: Marc Morano September 20, 2015 11:42 PM

Leader of 20 scientist effort to prosecute climate skeptics under RICO revealed as ‘Climate Profiteer’! ‘From 2012-2014, the Leader of RICO 20 climate scientists paid himself and his wife $1.5 million from government climate grants for part-time work.

George Mason University Professor Jagadish Shukla ( jshukla@gmu.edu) a Lead Author with the UN IPCC, reportedly made lavish profits off the global warming industry while accusing climate skeptics of deceiving the public. Shukla is leader of 20 scientists who are demanding RICO (Racketeer Influenced and Corrupt Organizations Act) charges be used against skeptics for disagreeing with their view on climate change.

Shukla reportedly moved his government grants through a ‘non-profit’. The group “pays Shukla and wife Anne $500,000 per year for part-time work,” Prof. Roger Pielke Jr. revealed.

“The $350,000-$400,000 per year paid leader of the RICO20 from his ‘non-profit’ was presumably on top of his $250,000 per year academic salary,” Pielke wrote. “That totals to $750,000 per year to the leader of the RICO20 from public money for climate work and going after skeptics. Good work if you can get it,” Pielke Jr. added.

 
Comment by Oddfellow
2016-02-12 09:17:56

Oh yeah. The Worldwide Scientist Conspiracy.

Occam’s Razor laughed that one out of the house. Try again.

 
Comment by Jimmy Carter is Hitler
2016-02-12 11:29:09

Try what again? You didn’t refute anything.

 
Comment by Oddfellow
2016-02-12 11:59:22

You didn’t refute anything.

OK, I’ll run it under Occam’s Razor again. Shave it back down to its stump:

Either:

Scientists in countless institutions, many with tenure in academia, in every country of the world, under every type of democratic or authoritarian model of government, pretty much all agree that “global warming” is occurring. This is occurring because they are all lying and actually are part of a giant conspiracy with the intent for some group to take over the world.

Or:

Burning hundreds of millions of years worth of stored carbon over the course of a couple hundred years has altered the world’s atmosphere.

Which is the simpler, more likely explanation?

 
Comment by Jimmy Carter is Hitler
2016-02-12 16:40:51

The likeliest explanation is that they like to get paid, and they only get paid if they agree. ;)

 
Comment by MightyMike
2016-02-12 17:21:03

There’s no evidence for that. It’s not all likely.

 
Comment by FrankBruno
2016-02-12 17:56:00

Scientists in countless institutions, many with tenure in academia, in every country of the world, under every type of democratic or authoritarian model of government, pretty much all agree that “dietary fat/cholesterol/sodium” is bad for you. This is occurring because they are all lying and actually are part of a giant conspiracy with the intent for some group to take over the world.

Oh wait.

 
Comment by Oddfellow
2016-02-12 18:42:19

“dietary fat/cholesterol/sodium” is bad for you.

And in excessive amounts they are, the science was right.

Someone was just telling me the great dangers of salt yesterday.

 
 
 
Comment by Blue Skye
2016-02-12 08:02:01

“rise over fifteen feet…”

Simple logic is hard to come by. Maybe the global debt party has numbed most people’s brains.

The 50 years are already passed Combo. What you see is what you get. Nothing.

“Global Warming” is a cover for Globalism. Truth or lie is immaterial. It is the agenda that is a threat, under any veil.

Comment by palmetto
2016-02-12 08:44:55

“Global Warming” is a cover for Globalism.

ED ZACHARY! That’s it in a nutshell.

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Comment by Oddfellow
2016-02-12 09:19:02

“Global Warming” is a cover for Globalism.

Says the guy Exxon College grad who works in the oil industry.

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Comment by phony scandals
2016-02-12 09:44:56

“Global Warming” is a cover for Globalism.”

“Says the guy Exxon College grad who works in the oil industry.”

I love watching Oddie try to put the Climate scam Genie back in the bottle.

 
Comment by butters
2016-02-12 10:10:10

Global warming is cover for Climate Exchange. Goldman and big banks are the big winners.

 
 
Comment by Blue Skye
2016-02-12 10:28:03

“Global Warming” is a cover for Globalism.

You can say that again.

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Comment by Oddfellow
2016-02-12 10:45:54

You can say that again.

It does make a good slogan to mindlessly repeat, instead of thinking about the issue.

Mindless repetition seems to be the basis and form of several of our regular posters’ political beliefs. Evidence of how well-programmed they are? Or are they attempting to program us? Or both?

 
Comment by phony scandals
2016-02-12 12:06:36

The question that was being asked by NASA climate scientists…

Where else can we hide the sea level rise and Global Warming?

“Miami (AFP) - As glaciers melt due to climate change, the increasingly hot and parched Earth is absorbing some of that water inland, slowing sea level rise, NASA experts said Thursday.”

NASA Study Reveals Oceans Temporarily Hide Global Warming

July 12, 2015

The answer came earlier this week…

10,000 years in the future!

By Chris Mooney February 8, 2016

A large group of climate scientists has made a bracing statement in the journal Nature Climate Change, arguing that we are mistaken if we think global warming is only a matter of the next 100 years or so — in fact, they say, we are locking in changes that will play out over as many as 10,000 years.

“The next few decades offer a brief window of opportunity to minimize large-scale and potentially catastrophic climate change that will extend longer than the entire history of human civilization thus far,” write the 22 climate researchers, led by Peter Clark, from Oregon State University.

The author names include not only a number of very influential climate scientists in general but several key leaders behind major reports from the United Nations’ Intergovernmental Panel on Climate Change, including MIT’s Susan Solomon and Thomas Stocker of the University of Bern in Switzerland.

The researchers’ key contention is that we have been thinking about climate change far too narrowly by only projecting outward to the year 2100, which the research says “was originally driven by past computational capabilities.” Rather, we should consider that the long-term consequences of human emissions for global temperatures and sea level will play out over many millennia.

http://www.washingtonpost.com/…/ -

 
Comment by FrankBruno
2016-02-12 17:59:06

People all over the world also began drinking bottled water and continue to do so.

It has been shown numerous times that it is no better than tapwater.

People also all over the world pretend they can distinguish wines and vodkas. Again something proven false time and time again.

No conspiracy required. Just self interested delusion.

 
Comment by Oddfellow
2016-02-12 18:43:55

People drinking bottled water proves there’s no global warming.

 
 
 
 
Comment by phony scandals
2016-02-12 08:31:04

“Miami (AFP) - As glaciers melt due to climate change, the increasingly hot and parched Earth is absorbing some of that water inland, slowing sea level rise, NASA experts said Thursday.”

So that’s why my weekly Atlantic Ocean checks continue to show no sea level rise since 1983.

That’s almost as big a relief as when the NOAA scientists fudged the no warming in the last 30 years numbers which kept me from having to buy scuba gear to find the Global Warming that the settled scientists said was hiding under the ocean.

NASA Study Reveals Oceans Temporarily Hide Global Warming

July 12, 2015

A newly published NASA study shows that the recent extra heat from greenhouse gases has been trapped in the waters of the Pacific and Indian oceans, accounting for the slowdown in the global surface temperature trend observed during the past decade.

scitechdaily.com/nasa-study-reveals-oceans-temporarily-hide-global-warming/ - 92k -

 
 
Comment by Goon
2016-02-12 05:52:50

New York Times real journalists provide a Hillary narrative with a headline titled “calm, cool, and effective”

http://mobile.nytimes.com/2016/02/12/us/politics/hillary-clinton-debate.html

Comment by MacBeth
2016-02-12 06:37:27

Laughable.

Hillary is long established as a high-maintenance shrew. Even her most ardent supporters have known such for 15 years.

Comment by Raymond K Hessel
2016-02-12 07:09:57

Hillary’s most ardent supporters are affluent boomers who are as amoral and feckless as she is. Vermin, every last one of them.

Comment by Oddfellow
2016-02-12 07:43:01

Vermin, every last one of them.

And what do we do with vermin, mein Hessel?

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Comment by Leosdad
2016-02-12 08:44:10

For once I have to weigh in to the discussion.
Never should you refer to other people as ‘vermin’. We had that and it ended terribly. You can say any opinion about certain politicians, and I generally agree, but dehumanizing them is too dangerous a path, as history teaches us, to be followed. It D devaluates valid points made among intelligent people, too.
Thank you.

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Comment by Raymond K Hessel
2016-02-12 09:02:12

Fair enough, and I’ll concede the point. I despise corruption and detest those who enable it with their votes or complicity. So let’s just call them slimeballs instead.

 
Comment by Oddfellow
2016-02-12 09:25:22

but dehumanizing them is too dangerous a path,

But that’s raymond’s whole method and point. “They” are a writhing mass of zombie vermin voting themselves your money, because democracy doesn’t really work anymore. There’s only one logical solution to it, and although raymond walks us right up to it, he lets us make the final logical connection.

 
Comment by Raymond K Hessel
2016-02-12 10:06:47

The only “solution” I’m advocating is for decent people to make themselves as resilient as possible and to get ready for the inevitable collapse of our financial system, which has become too riddled wth fraud and unsustainable levels of debt to continue on its present trajectory for much longer. I intend to look out for my family and as many other good people as I can, and the rest are going to have to deal with the consequences of their own making.

 
Comment by Oddfellow
2016-02-12 10:14:11

If you really believed what you repeat every day, shouldn’t you be getting your family out of this doomed country full of FSA zombies?

 
Comment by Raymond K Hessel
2016-02-12 11:00:06

This country is my home, moron, and I happen to love it despite its faults. I’m not going anywhere.

 
Comment by Oddfellow
2016-02-12 11:12:37

I’m not going anywhere.

Wow. If I believed what you believe, I’d be getting my family out of Dodge.

Maybe you don’t really believe your own propaganda? I mean, according to you, we’re a nation of 95% zombie vermin, but there’s nowhere else you’d rather be with your family?

It just doesn’t make sense.

 
Comment by In Colorado
2016-02-12 11:19:48

If you really believed what you repeat every day, shouldn’t you be getting your family out of this doomed country full of FSA zombies?

FWIW, that’s easier said than done. Without visas you aren’t emigrating anywhere. And contrary to popular belief, if you are an average Joe they are harder to get than Chinese Algebra.

Plus, who says anywhere else is better?

 
Comment by In Colorado
2016-02-12 11:24:08

The only “solution” I’m advocating is for decent people to make themselves as resilient as possible and to get ready for the inevitable collapse of our financial system

That might very well be impossible. If the system truly collapses its not like there will be anything to buy at the store with the money/gold/bitcoin you salted away.

Plus I doubt there will be a total collapse. Mexico was going through a financial crisis when the big earthquake hit Mexico City in 1985. The lights stayed on and it wasn’t “go time”.

 
Comment by Oddfellow
2016-02-12 11:34:37

FWIW, that’s easier said than done.

I know. But we’re not talking about moving somewhere because you like the climate or the culture or something. We’re talking about getting your family away from the FSA zombie vermin 95%. The world is full of ex-pats, it’s not impossible.

Assuming be actually believes what he writes, which apparently he doesn’t.

 
Comment by MightyMike
2016-02-12 11:38:06

Mexico was going through a financial crisis when the big earthquake hit Mexico City in 1985. The lights stayed on and it wasn’t “go time”.

Now you’re upsetting Ray and so many others.

 
Comment by In Colorado
2016-02-12 12:36:56

The world is full of ex-pats, it’s not impossible.

Just try to get an immigrant visa without a wheel-barrel full of money or a corporate sponsorship. Lacking those two, your best bet is being married to a foreigner or claiming foreign citizenship through family ties.

Most expats I met when I lived overseas where of the corporate sponsored type (most were also on temporary visas and did not have the equivalent of a green card). Second place were those who got the visa via marriage (which is how my dad and I got our visas)

That said, many countries will give you a retiree visa, IF you can demonstrate that you have money/pensions and won’t be looking for a job. But the notion that you can just waltz in and get a full immigrant visa on your own is risible.

 
Comment by Oddfellow
2016-02-12 12:46:21

If you don’t need a work visa and can support yourself, you can go live in all sorts of countries. Surely, being in the slim 5% of self-aware Americans, and making money betting against the central bankers, raymond has enough money to go live in some tropical land away from the madding zombie vermin hordes.

Again, assuming he really believes what he daily preaches.

 
 
 
 
Comment by Raymond K Hessel
2016-02-12 07:12:13

Hillary is corrupt, duplicitious, and venal to the core, but of course the Real Journalists of the Oligopoly’s flagship propaganda outlet have an aversion to the truth.

 
 
Comment by Raymond K Hessel
2016-02-12 06:01:31

Forget the charade of democracy. Hillary and the corrupt DNC own the superdelegates that will ensure Hillary is the candidate regardless of the silly sheeple who think they have a say in the process.

http://www.breitbart.com/video/2016/02/11/fmr-dnc-chair-rendell-hillary-to-win-superdelegates-bernie-has-to-win-significant-majority-of-elected-delegates-to-get-dem-nod/

Comment by MacBeth
2016-02-12 06:47:29

Should Sanders gets the boot by neocon Hillary, as appears increasingly likely, many of his supporters will take a second look at Trump.

Democrats all over the country already despise Hillary. They are still having some difficulty coming to terms with that, but they will.

Again, I will openly admit I was wrong. I thought that the Democratic Party wouldn’t implode until 2020. Instead, it’s doing so now.

Usually, I am somewhat ahead of the curve. This time, I am four years late.

Comment by Raymond K Hessel
2016-02-12 07:08:44

To vote Democrat is by definition to be corrupt and amoral. There is no other kind of Democrat. You are what you vote for.

 
Comment by Professor Bear
2016-02-12 09:11:43

Are you sure Trump will win the nomination?

Comment by Donald Trump
2016-02-12 09:33:15

We Will Win, We Will Win and We Will Win.

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Comment by Raymond K Hessel
2016-02-12 06:06:29

The Oligopoly’s war on cash, intended to force the sheeple to use purely electronic money that allows their every transaction and cent to be tracked, monitored, taxed, and expropriated as Orwell’s 1984 becomes reality, is naturally being spun as a measure to combat money laundering and terrorism. And the sheeple graze on.

http://www.marketwatch.com/story/ecb-may-finally-deal-a-deathblow-to-the-500-bill-2016-02-11?dist=beforebell

Comment by Blue Skye
2016-02-12 08:17:39

“taxed”

I think that is the main thing.

The banks already have the system in place. It is really quite elegant. What is their cut on every transaction, 3%?

I live among a very conservative and stubborn people. Most of them won’t take electronic payment. Some of them will but give a discount for cash. “Sales tax” is often disregarded when paying in cash. They’ll want and need physical money. If the government will not do its job and provide a standard physical money, workarounds will appear.

 
Comment by The Selfish Hoarder
2016-02-13 08:02:06

Crypto currency users go “yawn.”

 
 
Comment by Raymond K Hessel
2016-02-12 06:22:34

If you like your rigged Cuban-style candidate selection, you can keep your rigged Cuban-style candidate selection. The sheeple may feel good thinking they get a say, but Comrade Wasserman-Schultz and the co-opted superdelegrates have already rigged the outcome. Forward!

http://www.csmonitor.com/USA/Politics/Decoder/2016/0211/Are-superdelegates-Hillary-Clinton-s-secret-weapon-video

 
Comment by Mafia Blocks
2016-02-12 06:37:37

Happy Friday! :mrgreen:

KEEEEEEEEEEEEERAAAAAAAAAANK it up to 11, grab a cold one and a bag of Cheetos and count your pile o’ cash.

http://youtu.be/0wxAMa3Prhk

Here’s one for Anklepants and the Lolas and Liberaces.

http://youtu.be/l5aZJBLAu1E

 
Comment by Mafia Blocks
2016-02-12 06:49:11

“Crushing The ‘Oil’s Just A Supply Issue’ Meme In One Painful Chart”

http://www.zerohedge.com/news/2016-02-11/crushing-oils-just-supply-issue-meme-1-painful-chart

Once again. Rigged, bottlenecked and fixed prices collapse demand, cause widespread joblessness and destroys an economy in short order.

 
Comment by Raymond K Hessel
2016-02-12 07:06:50

Among women 18-34, Sanders is beating Hillary by a margin of 84 to 9. Are even the snowflakes finally waking up and rejecting the corrupt status quo embodied by Hillary?

http://news.yahoo.com/hillary-clinton-lost-young-white-women-133700031.html

Comment by MacBeth
2016-02-12 07:38:53

Why would any “independent” young lady want to be brow-beat by pursed-lip Hillary when she can vote an old, ripe-for-the-plucking Sugar Daddy into office?

What’s that bromide again?

As go women, so goes society?

If you’re a male OR a woman over age 35, prepare thyself to get fleeced should Sanders become president.

Comment by In Colorado
2016-02-12 12:28:36

If you’re a male OR a woman over age 35, prepare thyself to get fleeced should Sanders become president.

Only if the GOP loses control of Congress, which doesn’t appear to be likely.

 
Comment by CalifoH20
2016-02-12 19:53:01

have no fear of Sanders unless you run a hedge fund

 
 
 
Comment by frankie
2016-02-12 07:31:17

A little light relief from the BBC website

A Spanish civil servant has been fined €27,000 (£21,000; $30,000) after not going to work for “at least” six years.

Joaquin Garcia’s absence was only noticed when he became eligible to collect a long-service award.

The 69-year-old, whose job was to supervise the building of a waste water treatment plant, has since retired.

He denied the allegations and said he was a victim of bullying. A court found in the authority’s favour and ordered him to pay the fine.

Mr Garcia was paid €37,000 a year before tax by a water company run by local authorities in the south-western city of Cadiz. His fine was equivalent to one year’s salary after tax and was the most that the company could legally reclaim.

The court heard that the boss of the water company had not seen him for years despite occupying an office opposite his.
Reading philosophy

The water company thought he was supervised by the local authorities and vice versa.

The deputy mayor noticed his absence when Mr Garcia became due to receive a plaque for 20 years’ service.

Mr Garcia says he was bullied due to his family’s politics, and was sent to the water company to be out of the way.

People close to him told Spanish newspaper El Mundo that he was reluctant to report it as he had a family to provide for, and worried that at his age he would not get another job.

They said he did go to the office, although not for full business hours every day, and that he dedicated himself to reading philosophy.

Comment by In Colorado
2016-02-12 08:21:05

The 69-year-old, whose job was to supervise the building of a waste water treatment plant

Mr Garcia was paid €37,000 a year before tax

Pay does suck in Spain. That job would pay quite a bit more in the US.

Also funny how the plant got built without his supervision.

They said he did go to the office, although not for full business hours every day, and that he dedicated himself to reading philosophy.

My late FIL kind of had a job like that. 90% of the time there was nothing to do, so he read the newspaper. The other 10% he’d solve problems no one else in the firm could.

 
Comment by Bluto
2016-02-12 11:49:50

Yep heard that on a BBC podcast, they have a LOT of excellent ones on various topics….one that some HBB people might enjoy is “Business Daily”, it often covers economic stories that are discussed here.

http://www.bbc.co.uk/programmes/p002vsxs/episodes/downloads

 
 
Comment by palmetto
Comment by The Central Scrutinizer
2016-02-12 08:39:27

Russians are not to be messed with.

Comment by Raymond K Hessel
2016-02-12 09:03:56

There is an inherent cruelty and brutality in the Russian make-up. I don’t trust them as far as I can throw them.

Comment by butters
2016-02-12 10:03:49

Decades of communism/socialism does that to you.

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Comment by Raymond K Hessel
2016-02-12 10:09:55

No, it goes back to their Scythian and Mongol origins. They’ve always had a brutish, orc-like tinge to their national character and a sick adulation for leaders like Stalin or Ivan the Terrible.

 
Comment by The Central Scrutinizer
2016-02-12 10:24:26

Dictatorship hurts quite a bit more.

 
Comment by Mafia Blocks
2016-02-12 10:27:03

Thanks but no thanks Lola. I’ll take capitalism instead. Keep your communists dictatorships.

 
Comment by palmetto
2016-02-12 10:30:26

ED Zachary! Nailed it. I was going to go into some long-winded response about how Russia is poorly understood and its history and the Russians who lived next door to me, etc. etc. But that’s the crux of the whole thing.

 
Comment by Blue Skye
2016-02-12 10:30:36

Socialism is dictatorship by committee.

 
Comment by Oddfellow
2016-02-12 10:49:07

But that’s the crux of the whole thing.

What is?

 
Comment by MightyMike
2016-02-12 10:50:22

No, it goes back to their Scythian and Mongol origins.

Wow, the manifestations of your collectivism are amazing.

 
Comment by palmetto
2016-02-12 10:54:14

“No, it goes back to their Scythian and Mongol origins.”

but, but, Meryl Streep sez we’re all Africans.

 
Comment by The Central Scrutinizer
2016-02-12 12:38:17

“Socialism is dictatorship by committee.”

Democracy is dictatorship by morons.

 
Comment by butters
2016-02-12 13:13:29

Democracy is dictatorship by morons.

The socialists who run the committee are morons, too.

 
 
 
 
 
Comment by phony scandals
2016-02-12 08:13:56

Transcript: The Democratic debate in Milwaukee

By Team Fix February 11 at 8:34 PM

WOODRUFF: Senator Sanders, you’re in the minority, but we still want to hear from you.

(LAUGHTER) SANDERS: Look, we are fighting for every vote that we can get from women, from men, straight, gay, African-Americans, Latinos, Asian-Americans. We are trying to bring America together around an agenda that works for working families and the middle class.

IFILL: Let me turn this on its head, because when we talk about race in this country, we always talk about African-Americans, people of color. I want to talk about white people, OK?

SANDERS: White people?

IFILL: I know. (LAUGHTER)

Comment by Raymond K Hessel
2016-02-12 09:45:24

I’m a straight WASP conservative who would gladly vote for a Jewish socialist Democrat if he shows he is sincere about trying to unify the country, restore the rule of law and respect for the Constitution, and look out for the interests of the 99%.

Comment by butters
2016-02-12 10:05:21

You might as well believe in unicorn.

Comment by Raymond K Hessel
2016-02-12 10:21:20

Maybe so. But Bernie or Trump would be a better alternative than what the establishment political elites have to offer, i.e. more of the same.

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Comment by phony scandals
2016-02-12 10:58:12

“Maybe so. But Bernie or Trump would be a better alternative than what the establishment political elites have to offer, i.e. more of the same.”

I would agree with that on both points but free sh#t ain’t free and all this money is not coming from the Wall Street Banksters and it never does.

“As part of his single-payer healthcare plan, Sanders would institute a 6.2 percent tax on employers to finance healthcare premiums for his new federally-run system,”

I don’t bid jobs where the Unicorns graze so 6.2 percent tax on payroll would just about put me out of business.

What kind of margins does this old Socialist think we are starting out with?

Here’s a list of Bernie Sanders’ $19.6 trillion in tax hikes
By Philip Klein (@philipaklein) • 1/19/16 12:01 AM

Taken together, Sanders is proposing $19.6 trillion in new taxes over a decade, according to an analysis by the Washington Examiner, of which $14 trillion would come from his healthcare plan alone. To put that in perspective, the Congressional Budget Office projects that federal revenues over the next 10 years will be a total of $41.6 trillion, meaning that Sanders would raise taxes by 47 percent over current levels.

Business healthcare premium tax — $6.3 trillion

As part of his single-payer healthcare plan, Sanders would institute a 6.2 percent tax on employers to finance healthcare premiums for his new federally-run system, which he said would raise $630 billion per year. Though the tax would technically be imposed on employers, economic studies have shown that such taxes are ultimately passed onto workers. Sanders has argued that workers would be better off in the end anyway because of the money they’d save on insurance.

Payroll tax hike — $319 billion

Sanders would increase the payroll tax burden by 0.4 percent (split by workers and employers) to finance mandatory family leave.

Energy tax — $135 billion

(Gee, who is this going to get passed on to?)

To finance plans to boost alternative energy subsidies, Sanders would raise taxes on oil companies.

Raising marginal income tax rates — $1.1 trillion

Another way that Sanders would pay for his healthcare plan would be to hike income tax rates on those earning above $250,000 — creating a top marginal tax rate of 52 percent on income above $10 million.

(Bernie wants 39.2% from the people who make $250,000 to $500,000 before they pay property tax and state tax where applicable. Thems the people that hire people like me and many other small businesses, Fifteen dollar an hour people, not so much.)

 
Comment by Oddfellow
2016-02-12 11:25:14

GOPcentral told you to shift to Bernie, eh phony? Oh well, another day, another dollar. Still, a good sign for us Bernie fans.

 
Comment by MightyMike
2016-02-12 11:42:27

Bernie wants 39.2% from the people who make $250,000 to $500,000 before they pay property tax and state tax where applicable.

Has he said anything about property tax or state income taxes? Has he proposed ending their deductibility?

 
Comment by phony scandals
2016-02-12 11:43:50

“Still, a good sign for us Bernie fans.”

I thought you were holding your nose and voting for Hillary?

So now you are going to lift your dress and vote for Barney?

 
Comment by phony scandals
2016-02-12 12:20:00

“Has he said anything about property tax or state income taxes? Has he proposed ending their deductibility?”

The only thing I saw about Barney ending tax deductions on was employer paid health insurance.

But he says it’s ok because you will have your healthcare paid for and be able to look out the window and watch the Unicorns grazing.

 
Comment by In Colorado
2016-02-12 12:26:53

I strongly suspect that if a Dem is elected prez s/he will still have to deal with a GOP controlled House and Senate. So, there won’t be higher taxes and there won’t be socialized healthcare.

 
Comment by MightyMike
2016-02-12 12:58:38

So the dollar value of those deductions would increase. Other than stating that fact, state and property taxes are irrelevant to Sanders’s proposals.

 
Comment by Mafia Blocks
2016-02-12 16:50:56

Barney Sanders is pro-debt slavery.

 
Comment by phony scandals
2016-02-12 20:43:59

Bernie Sanders Says Proposed Payroll Tax ‘Would Hit Everyone’

By Ali Dukakis

Oct 18, 2015, 2:22 PM ET

However, when pressed by Stephanopoulos about whether the proposed Senate tax legislation he backs, which would use a payroll tax to fund a mandate for 12 weeks of paid family and medical leave from all U.S. employers, Sander confirmed that the bill would require taxing all citizens -– not just the top 1 percent.

“[The payroll tax] would hit everyone –- yeah, it would. But it would mean we would join the rest of the industrialized world and make sure that when a mom has a baby she can in fact stay home with that baby for three months, rather than going back to work at the end of one week,” Sanders said.

abcnews.go.com/…/bernie-sanders-proposed-payroll-tax-hit/story?id=34546554 -

Exclusive: Sanders Open to Raising Middle-Class Taxes for Healthcare

Sam Frizell @Sam_Frizell
Jan. 17, 2016

Bernie Sanders told TIME on Sunday that he would be willing to raise taxes on the middle class in order to guarantee universal healthcare, after months of weathering attacks from Hillary Clinton.

When asked in an interview in Charleston, South Carolina, on Sunday which of his big-ticket proposals would cost the middle class more in taxes, the insurgent presidential candidate said “I think if we can guarantee healthcare to all people comprehensive healthcare, no deductibles, and if we can cut people’s healthcare bill substantially.”

Sanders disputed to TIME it was a middle-class tax hike, saying it would ultimately save taxpayers money by cutting out private health insurers.

“What media sometimes does, what my opponent does, what Republicans do, is they really try to take a cheap shot. If you were paying $10,000 in private health insurance and I said to you, guess what, you ain’t going to pay that $10,000 and more but you’re going to pay $5,000 more in healthcare premiums, you’d be jumping up and down for joy. You save $5,000 on your healthcare bills,” Sanders told TIME.

“It’s disingenuous. I’ve heard this my whole life,” Sanders continued, arguing the legislation would save money.

time.com/4183856/bernie-sanders-middle-class-taxes-health-care/ - 116k -

And then this for Colorado who either gets to pay income tax on his ($16k?) a year employer provided health insurance or $5,000 a year for Bernie healthcare premiums.

Sounds like he would pay an extra $5,000 a year either way.

Here’s a list of Bernie Sanders’ $19.6 trillion in tax hikes
By Philip Klein (@philipaklein) • 1/19/16 12:01 AM

Ending tax free status of employer health insurance — $3.1 trillion

Sanders says he would raise $310 billion per year by ending the tax breaks for employer sponsored health insurance, which his campaign said would become “obsolete” if his single-payer plan were implemented.

http://www.washingtonexaminer.com/…/article/2580846 - 154k -

 
 
 
Comment by Jimmy Carter is Hitler
2016-02-12 11:38:55

I could never vote for Bernie. As you used to say he’s good at identifying the problems but he has really bad solutions. I’d rather see him be the dem nominee instead of Hillary though.

 
 
 
Comment by xstate
2016-02-12 08:24:03

I will still say that Housing prices will fall to the price of a used car over the long term. I knew that housing would take a huge fall over a decade ago and in fact said it would fall by a tremendous percentage on this blog. I was told that I was crazy…who’s the wacko now?

Comment by Mafia Blocks
2016-02-12 09:24:37

Used car… used house. Both depreciate rapidly. Both result in losses.

Used care… used house. Distinction without a difference.

 
Comment by Neuromance
2016-02-12 18:36:11

Housing is only a few percent off its peak of 2006: https://research.stlouisfed.org/fred2/series/SPCS20RSA

There was a multi-trillion dollar effort to reflate the bubble. Which has been very successful.

The problem is that these kinds of large scale economic planning efforts have unintended consequences, which have been the bane of central planners through the millenia.

“Nahhh, they’ve got it under control this time. They know a lot more about economics than people did in the past.” Maybe so, but the people who are trying to accrue value to themselves - gaming the central planner - are smart and adaptable. So whatever the central planner does, the economy is a constantly evolving and moving target. Unintended consequences are guaranteed.

And the central planner is just people. Not hyper-intelligent, but reasonably intelligent. They defecate just like the lowliest panhandler. They have emotions, families, aspirations. They can be influenced and manipulated and enticed.

Hence, unintended consequences are a given.

 
 
Comment by phony scandals
2016-02-12 08:42:39

Comment by Professor Bear
2016-02-11 20:51:12

Transgender student in boy’s locker room sparks debate
Posted 8:37 AM, February 10, 2016, by Jaime Chambers,
Updated at 08:43am, February 10, 2016

POWAY, Calif. – Parents and students packed the Poway Unified School District board meeting Tuesday night to discuss complaints about a transgender student who has been changing for physical education classes in the boy’s locker room.

“I walked in and saw a student who I’ve known as a girl for years but now claims she’s a boy,” freshman Jonathan Franz said.

The issue of locker room choice was addressed by the California legislature two years ago when it passed anti-transgender discrimination legislation. According to the law, students can use locker rooms based on the sex they identify with.

Many of the students and parents at the packed board meeting carried signs supporting the transgender student and calling for equality for transgender students.

“How can they drag this unwilling child into this storm of media scrutiny,” said one attendee.

The board took no action on the issue. Now it is up to the superintendent to determine how to address the complaints of student who feel uncomfortable dressing down in front of a transgender student while protecting that student’s legal rights.

Comment by Professor Bear
2016-02-12 09:16:05

I look forward to posting the first news story about a California sexual incident sparked by high school students of opposite genders sharing the same locker room.

Comment by Oddfellow
2016-02-12 09:39:16

Been the law for a few years, you’d think you’d have gotten your opportunity by now, if it was as big a problem as you seem to think it is.

 
Comment by MightyMike
2016-02-12 09:42:29

It could be some very unfortunate thing that happens to an innocent girl. Why would you look forward to that event?

Comment by Mafia Blocks
2016-02-12 10:12:01

You’re backpedalling.

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Comment by Raymond K Hessel
2016-02-12 11:03:58

Most high school boys could not care less about a chick who identifies as a guy showering with them. However, most parents of high school girls could have strong opinions about a self-described girl who happens to have junk showering with their daughters. But really, as a country, we’ve got bigger problems than gender-confused individuals picking out the right shower or bathroom.

 
 
 
Comment by In Colorado
2016-02-12 11:12:21

I look forward to posting the first news story about a California sexual incident sparked by high school students of opposite genders sharing the same locker room.

I suspect such incidents, however rare they might be, will be swept under the rug.

Comment by Oddfellow
2016-02-12 12:25:11

will be swept under the rug.

You don’t think Rush or Drudge would find it worth mentioning?

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Comment by In Colorado
2016-02-12 13:19:55

Only if they find out.

 
 
 
 
 
Comment by The Selfish Hoarder
2016-02-12 09:23:37


I am still waiting for Frank to tell me if murdering, stealing, or kidnapping by government is any more moral than by people outside the government. It is common for people who tell me they are against voluntaryism to go completely quiet when I ask them what type of initiation of force is moral. They also refuse to distinguish between retaliatory force and initiation of force. Retaliatory force is not immoral.

“Well, I’m libertarian on some issues.”
People who say that don’t know what “libertarian” means. Libertarianism is based on the non-aggression principle: the idea that force is justified only when used defensively. So for someone to say that they are “libertarian leaning,” or to say that they are “libertarian on some issues,” means that in SOME cases they oppose the initiation of violence, and that in some OTHER cases they CONDONE the initiation of violence. Well duh. That’s true of every statist in the world. Nobody advocates violence in every imaginable situation. Being “libertarian on some issues” is like being “vegetarian” at some meals. If you eat meat, you’re not a vegetarian. If you condone the initiation of violence (as all statists do), you’re not a libertarian. You don’t get partial credit for only SOMETIMES advocating the violent subjugation of your fellow man.’ Larken Rose

Comment by FrankBruno
2016-02-12 18:06:35

Huh? Did you ask me something?

Comment by The Selfish Hoarder
2016-02-12 18:49:16

Yes. Why can’t you admit you are in favor of murder, theft, or kidnapping?

 
 
 
Comment by The Selfish Hoarder
2016-02-12 09:28:43

Upon e conversion of statists (Trump supporters, Sanders supporters, etc) to voluntaryists

http://www.notbeinggoverned.com/upon-conversion-statists-voluntaryism/

 
 
Comment by Mafia Blocks
2016-02-12 09:56:35

Canada is in trouble? Old news but newsworthy to everyone. Discuss with everyone.

“Canada Sells Nearly Half Of All Its Gold Reserves”

http://www.zerohedge.com/news/2016-02-11/canada-sells-nearly-half-all-its-gold-reserves

 
Comment by Mafia Blocks
2016-02-12 09:59:57
 
Comment by The Selfish Hoarder
2016-02-12 10:14:10

Gladly enjoying my 60% gain in Bitcoin over my initial purchase in January 2015. I read that ether coin is now becoming number 2. Just in time to get my Raspberry Pi 2 ether node working this weekend.

Comment by Raymond K Hessel
2016-02-12 11:31:34

Just took profits in AUY, which means it’ll probably pop up even further. Also sold most of my FCX; hope to buy it back under $5.

Comment by The Selfish Hoarder
2016-02-12 12:04:40

just took profits

NO! Why? This is a dead cat bounce of stocks!

Comment by Raymond K Hessel
2016-02-12 16:43:54

You don’t have realized gains until you sell. I’m concerned that FCX popped primarily on oil, but think that will be short-lived. This is the 2nd time I’ve sold it when it goes over $5.65, then bought it back for less than that, so we’ll see what it does next week. AUY will probably go higher, but I made a nice haul on it and wanted to cash in. Am hoping it will correct one more time before the next leg higher.

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Comment by Oddfellow
2016-02-12 10:36:28

I Can’t Hate Donald Trump
I do hate the Republicans who’ve enabled his remarkable popularity.

By Reihan Salam

Imagine how dangerous Trump would be if he were more disciplined and focused, and if he had serious prescriptions for how to make the global economy work for Americans in the bottom two-thirds of the income distribution. For now, however, Trump is on a mission of destruction: He is demonstrating the weakness of the Republican donor class, which has barely dented him over months of campaigning, and he is forcing orthodox conservatives to question the agenda they’ve been advancing for decades as they see rank-and-file GOP voters reject it in large numbers. I hate Trump far less than I hate the Republicans who’ve paved his way. And if Trump goes down in flames, as I still believe he will, the Republican Party must never forget the Rust Belt Americans he’s inspired—because if they do, there will be another Trump waiting in the wings.

http://www.slate.com/articles/news_and_politics/politics/2016/02/i_can_t_hate_donald_trump_i_do_hate_the_republicans_who_ve_enabled_him.html

Comment by butters
2016-02-12 11:32:58

I bet he supported those republicans year after year. Does it mean he hates himself?

Comment by The Selfish Hoarder
2016-02-12 13:50:55

Trump supported the Clintons over the years. Got internet?

Comment by FrankBruno
2016-02-12 18:09:07

He supported whomever would get the job done because he cares about getting the job done. Imagine that, a politician who wants to get something done instead of talk.

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Comment by phony scandals
2016-02-12 11:20:41

Obama’s big push continues.

 
Comment by phony scandals
2016-02-12 11:37:27

Feds Push New Plan For Home Visits to Check on Parents

Government-appointed monitors to assess upbringing of children

Paul Joseph Watson - February 12, 2016 511 Comments

The federal government is seeking to create a new bureaucracy that would intervene in family life and could even see state-appointed monitors conduct routine home visits to assess a child’s well-being.

The U.S. Department of Education and the U.S. Department of Health and Human Services (HHS) has published a draft document which outlines a plan that will treat families as “equal partners” in the raising of children, opening the door for government intrusion at all levels.

The paper describes how government employees will intervene to provide, “monitoring goals for the children at home and the classroom,” and that if parents are failing to meet the standards set, “evidence-based parenting interventions” will be made to, “ensure that children’s social-emotional and behavioral needs are met.”

The document reveals how the state will help oversee, “constant monitoring and communication regarding children’s social-emotional and behavioral health.”

The program bears the hallmarks of a controversial scheme in Scotland, set to take effect later this year, under which a “shadow parent” appointed by the government would monitor the upbringing of every child until the age of 18.

“The document argues that Big Brother needs to know about essentially everything, for the supposed benefit of the child it wants to “partner” in caring for,” writes Alex Newman. “Citing “research,” the policy statement claims that “the institutions where children learn cannot ignore family wellness if they want to … fulfill their mission to prepare children for school and academic success.” In other words, every aspect of family life is now fair game under the pretext of checking “family wellness.”

The document also extends the understanding of the word “family,” to include, “all the people who play a role in the child’s life,” a definition that could include not only teachers but government monitors.

In a related development, the federal government is pushing for a task force to oversee a program under which pediatricians and doctors would, “screen all students over 12 years old regularly for depression and issue prescriptions or treatment as necessary.”

The program would increase the likelihood of teenagers being given dangerous antidepressant drugs such as Prozac and Lexapro.

The idea of children belonging not just to their parents but to a “community” that involves the state is a common theme of collectivist thinking.

That notion was promoted in the video below from 2013 featuring MSNBC host Melissa Harris-Perry, in which she asserted, “We have to break through our private idea that kids belong to their parents or kids belong to their families.”

Comment by In Colorado
2016-02-12 12:23:27

As if the birth rate wasn’t low enough already. Then they’ll wringing their hands, wondering why no one is having kids anymore.

 
 
Comment by Raymond K Hessel
2016-02-12 11:39:53

Hillary really, really wants to cash in on being president. Tens of millions of dollars of payola are at stake.

http://www.businessinsider.com/hillary-clinton-speeches-on-wall-street-2016-2

 
Comment by Raymond K Hessel
 
Comment by Raymond K Hessel
2016-02-12 12:07:38

Boomers final act of fecklessness will be leaving their debts to their children.

http://www.zerohedge.com/news/2016-02-12/baby-boomers-are-drowning-loans-debt-average-67-year-old-soared-169-past-12-years

 
Comment by Raymond K Hessel
2016-02-12 12:11:18

Boomers’ last great act of fecklessness, capping their self-absorbed existences, will be leaving their debts for their children to deal with.

http://www.zerohedge.com/news/2016-02-12/baby-boomers-are-drowning-loans-debt-average-67-year-old-soared-169-past-12-years

Comment by rj chicago
2016-02-12 14:51:57

Ray K -
I plan to party on at my kids expense FOREVER!!!!!

 
 
Comment by The Selfish Hoarder
2016-02-12 12:14:23

The scenes that loan owners don’t see - wine country

http://s12.postimg.org/9pmmy7n0d/Oakville2.jpg

If you borrow, you cannot afford this either:
http://s28.postimg.org/5cq7imv59/inglenook.jpg

Comment by The Selfish Hoarder
2016-02-12 12:33:32

Nor do they make an appointment at Paradigm, drink their high end, then buy 3 of these (I did)

http://s14.postimg.org/nare12ywh/paradigm2012.jpg

 
 
Comment by MightyMike
2016-02-12 13:05:31

Timeliest U.S. Data Show Economy Not at Risk as Stocks Crumble

At least through last week, the U.S. economy was showing no sign of succumbing to the slump in financial markets.
Jobless claims dropped to an almost two-month low of 269,000 in the period ended Feb. 6, according to Labor Department data published Thursday. Meanwhile household confidence held near a three-month high at the start of February, the Bloomberg Consumer Comfort Index showed.

With the Standard & Poor’s 500 Index down 11 percent so far in 2016 and Treasury yields touching three-year lows, concern is growing that financial-market stress will translate into an economic downturn. Those fears so far have been unsupported by the high-frequency data that’s trusted to monitor the pulse of the economy.

After a fourth-quarter slowdown, analysts still expect a rebound in growth as households benefit from steady hiring, few firings and cheap gasoline.

“I don’t see consumers shaken by market events enough to stop spending,” said Dean Maki, chief economist at Point72 Asset Management LP in Stamford, Connecticut. “Most consumers don’t tie their day-to-day spending to the stock market, so even though they may know the stock market’s down, they may not be canceling dinner plans as a result.”

The labor market is likely to thank for that, as companies have expanded headcounts at a solid clip for much of the last two years. The unemployment rate fell to an eight-year low last month and payrolls climbed by 151,000. While job growth in January was less than expected, the increase followed a fourth quarter that saw employers adding an average 279,000 workers per month.

http://www.bloomberg.com/news/articles/2016-02-11/timeliest-u-s-data-show-economy-not-at-risk-as-stocks-crumble

 
Comment by Raymond K Hessel
2016-02-12 14:12:47

The ankle-biters were out in force today. Fortunately I have my “f**k that” mediation to take me to a tranquil, serene place.

https://www.youtube.com/watch?v=92i5m3tV5XY

Comment by The Central Scrutinizer
2016-02-12 14:52:21

Poor baby…

Comment by Oddfellow
2016-02-12 18:48:24

Do Repeating Robots actually have feelings? They don’t seem to feel boredom, even when repeating the same thing ten or twenty times a day, every day.

 
 
 
Comment by Raymond K Hessel
2016-02-12 14:42:30

1400 more ‘Murican workers get to savor the joys of hope ‘n change since their jobs are being moved from Indiana to Mexico.

https://www.youtube.com/watch?v=Y3ttxGMQOrY

Comment by rj chicago
2016-02-12 16:09:27

I most likely won’t be buying Carrier stawks any time soon.

 
Comment by The Central Scrutinizer
2016-02-12 18:59:07

Basic capitalism… seek the lowest costs, and the highest sale price.

Which do you favor to counter it, tariff or subsidy?

 
Comment by CalifoH20
2016-02-12 19:51:07

thanks to Obama! If he had only more power to regulate he could stop this! we need more power

 
 
Comment by Combotechie
2016-02-12 15:26:04

The weather? Here in Southern California it is nice and it is forecasted to remain nice. As for higher the latitudes? Not so much.

Here’s a nifty website that has options that I set up so as to see what a polar view of temperatures look like at 1000 millibars:

http://earth.nullschool.net/#current/wind/isobaric/1000hPa/overlay=temp/orthographic=-92.14,85.57,422

 
Comment by rj chicago
2016-02-12 16:07:56

So….as the week closes down - I am listening to Alvin Lee and TYA crank the Marshall’s at a Fillmore East concert back in 1970. The guy had more testosterone in his playing fingers than the twit Obummer will ever have in his mom jeans body. How things have changed in a mere 40+ years.

Come to think of it - Ellen Degenerate may have more testosterone than Obummer.

Have a great weekend - hug your significant other on Valentines Day - I lost that a couple of years ago to ugly cancer as it took my wife. Sad.

http://variety.com/2016/biz/news/president-obama-ellen-degeneres-1201704306/

Comment by Raymond K Hessel
2016-02-12 16:46:29

Sorry about your loss, rj. That’s a tough card to be dealt.

 
Comment by FrankBruno
2016-02-12 18:12:39

Sad for your loss. I know you have someone to hug though. You’re a good egg.

 
 
Comment by rj chicago
2016-02-12 16:14:44

A follow on to Obummer’s E Degenerate interview…..

http://www.theburningplatform.com/2016/02/12/evolution-of-men/

 
Comment by CalifoH20
2016-02-12 19:49:58

can we blame O for not making gov bigger and stopping this:

http://money.cnn.com/2016/02/12/news/companies/carrier-moving-jobs-mexico-youtube/

 
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