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Hussman Funds: Timothy Geithner Meets Vladimir Lenin - January 4, 2010 - 0 views

hussmanfunds.com/...wmc100104.htm financial-crisis obammunism banksters
shared by Gary Edwards on 06 Jan 10 - Cached
  • Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • ...12 more annotations...
  • “In effect, the Federal Reserve decided last week to overstep its legal boundaries – going beyond providing liquidity to the banking system and attempting to ensure the solvency of a non-bank entity. Specifically, the Fed agreed to provide a $30 billion “non-recourse loan” to J.P. Morgan, secured only by the worst tranche of Bear Stearns' mortgage debt. But the bank – J.P. Morgan – was in no financial trouble. Instead, it was effectively offered a subsidy by the Fed at public expense. Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • the Treasuries purchased by the Fed have always been accompanied directly or indirectly by revenue to the government that could be spent on behalf of its citizens for government programs that had the vote of Congress.
  • Prior to 2008, the total amount of monetary base created in the history of the United States was about $800 billion.
  • Fiscal policy was always the domain of Congress alone.
  • What has happened over the past two years is that the Federal Reserve has purchased about $1.25 trillion dollars in mortgage-backed securities issued by Fannie Mae and Freddie Mac – securities that the Treasury has now made an unlegislated (or at minimum, unintentionally legislated), bureaucratic decision to fully back.
  • the Treasury has committed to “allow the cap on Treasury's funding commitment under these agreements to increase as necessary to accommodate any cumulative reduction in net worth.”
  • In a sharp break from the past, the issuance of these Treasury securities will not be accompanied by any revenue to the government for Congressionally approved programs.
  • Every dollar of bad mortgage debt that should have been written off is now enshrined as two dollars of government-backed debt. One dollar as the original debt, which will now be made whole, and one dollar of new Treasury securities, which must be issued to make that original debt whole. Accordingly, the holders of both securities will have claims against our national assets and future wealth.
  • Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.
  • “In effect, the Federal Reserve decided last week to overstep its legal boundaries – going beyond providing liquidity to the banking system and attempting to ensure the solvency of a non-bank entity. Specifically, the Fed agreed to provide a $30 billion “non-recourse loan” to J.P. Morgan, secured only by the worst tranche of Bear Stearns' mortgage debt. But the bank – J.P. Morgan – was in no financial trouble. Instead, it was effectively offered a subsidy by the Fed at public expense. Rick Santelli of CNBC is exactly right. If this is how the U.S. government is going to operate in a democratic, free-market society, ‘we might as well put a hammer and sickle on the flag.'
  • “The deal was made under duress, to the benefit of a private company, on the basis of financial assurances that the bureaucrats involved had no business making.
  • Gary Edwards on 06 Jan 10
     
    the Fed is now engaging in unlegislated, back-door fiscal policy. excerpt:  "The best way to destroy the capitalist system is to debauch the currency." Vladimir Lenin, leader of the 1917 Russian Revolution Last week, while Congress and the nation were preoccupied with the holidays, the Treasury made a Christmas eve announcement that it would be providing Fannie Mae and Freddie Mac unlimited financial support for the next three years. Put simply, in a single, coordinated stroke, the Treasury and the Federal Reserve have encroached on spending powers that are enumerated for the Congress alone. Under the Housing and Economic Recovery Act of 2008 (HERA), the Treasury has no such open-ended authority. Indeed, the applicable portion of the Act explicitly limits the total amount of mortgage principal (not losses, but total principal) as follows: .......... In a sharp break from the past, the issuance of these Treasury securities will not be accompanied by any revenue to the government for Congressionally approved programs. The Treasuries will be issued, the money will be handed over the Fannie Mae and Freddie Mac, and those funds will go largely to the Federal Reserve and other holders of existing mortgage debt simply to replace the bad, but bailed-out agency securities with cash as they mature. The public gets nothing for something - the issuance of the Treasuries is in itself their expenditure.
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Pentagon Still Plans to Blow Through Its Allowance - 0 views

www.pogo.org/...low-through-its-allowance.html war & peace Defense-spending accountability
shared by Paul Merrell on 22 Nov 14 - No Cached
  • a few years ago, Congress gave the Pentagon strict limits on its annual allowance, but the Department has struggled to stay within that budget. In advance of the Pentagon’s annual budget request, which usually is submitted during the spring, a senior defense official, Alan Estevez, confirmed that the Department plans on blowing through the budget caps next year. “We’re going to propose a budget next January and it’s going to be above sequestration levels.” Shocker!
  • When Estevez refers to “above sequestration levels,” he means above the legal spending limits that Congress has placed on the federal discretionary budget via legislation called the Budget Control Act (BCA). However, the Pentagon continues to propose funding levels that exceed the authorized amounts. Earlier this year, when the Pentagon first submitted its budget for Fiscal Year 2015, military planners proposed spending $115 billion more than is allowed by the spending caps over the next five years.
  • Now, Estevez is confirming that the Pentagon will indeed follow through on its pledge to blow through its allowance. “We’re obviously planning a budget above sequestration, similar to what we put forward in [Fiscal Year] ’15,” says Estevez. This coming year, in Fiscal Year 2016, the Pentagon will propose spending more than $60 billion above the amount authorized by Congress. CBO Assessment
  • ...1 more annotation...
  • While the Pentagon admits that it wants to spend $115 billion more than is allowed, an independent government watchdog says that, in reality, the Pentagon wants to spend even more than that. According to the nonpartisan Congressional Budget Office (CBO), which objectively analyzes the federal government’s long-term spending plans, the Pentagon actually would spend $182 billion more than is allowed over the five-year period from FY 2015 through FY 2019. That’s because CBO has a more realistic way of evaluating Pentagon spending plans.
  • Paul Merrell on 22 Nov 14
     
    Remember September 10, 2001? That's the day that Donald Rumsfeld announced that the Pentagon couldn't account for $2.3 trillion in spending. https://www.youtube.com/watch?v=xU4GdHLUHwU The accountability situation hasn't changed. Ignoring the sequestration limits simply compounds the DoD's impunity for the law. 
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Possible Constitutional Amendments in the event of an Article V Convention of States - ... - 0 views

teapartyorg.ning.com/...show Oren-LOng Tea-Party-Patriots Constitutional-Amendments Article-V-Convention
shared by Gary Edwards on 16 Jan 15 - No Cached
  • NUMBER ONE: "Section One:   The Constitution of the United States shall be read and interpreted literally.   No words or phrases shall be changed or substituted and no part of the Constitution shall be used to expand or increase Federal Power or Authority beyond that EXPRESSLY granted and enumerated in the Constitution.   The language of the Constitution shall be interpreted according to the definition of words at the time of their inclusion in the Constitution. Section Two:    Congress shall have, by two thirds vote of both the House of Representatives and the Senate, the power to override individual rulings of the Supreme Court of the United States and/or subordinate Federal Courts.   The President shall not have veto authority over Congressional overrides of Federal Court decisions."
  • NUMBER TWO: "Section One:    No person shall be elected to Congress more than once unless serving in Congress at the time of the ratification of this amendment, in which case members of Congress shall be eligible for re-election to their respective seats one time. Section Two:     In the event the Seventeenth Amendment to the Constitution of the United States is repealed members of the Senate of the United States shall serve at the pleasure and discretion of the Legislature of their respective State. Section Three:  Neither Congress, the President, nor any Federal Court shall make any law, rule, regulation, or order that does not apply equally to themselves and all citizens of the United States.   Nor shall Congress, the President, or any Federal Court cause or allow any law, rule, regulation, or order to be made by any agent or agency of the Federal Government that does not apply equally to themselves and all citizens of the United States.
  • Section Four:    Neither Congress nor the President shall receive any publically-funded retirement or benefit beyond appropriate pay not available to all citizens of the United States. Section Five:    Section Four shall not apply to members of Congress or Presidents, serving or retired, at the time of the ratification of this amendment. Section Six:      The President shall be subject to popular recall by his/her constituency.   Within 90 days of the ratification of this amendment Congress shall pass legislation governing the recall of the President.   In the event Congress fails to pass the required legislation within the required 90 days, the President shall be considered to have been recalled and a new election held within 60 days. Section Seven: Members of Congress shall be subject to popular recall by their respective constituencies, unless the Seventeenth Amendment to the Constitution of the United States is repealed, in which case only members of the House of Representatives shall be subject to popular recall.   Within 90 days of the ratification of this amendment each State shall pass legislation governing the recall of its Congressional Delegation.   In the event a State fails to pass the required legislation within the required 90 days, that State's Congressional Delegation shall be considered to have been recalled and new elections held within 60 days."
  • ...6 more annotations...
  • NUMBER THREE: "Congress shall make and the President shall sign a Balanced Federal Budget every year and before the beginning of the ensuing fiscal year.   In the event Congress and the President fail to make said Balanced Federal Budget before the beginning of the ensuing fiscal year, the last Constitutionally passed and signed Federal Budget shall go into effect and shall be the Federal Budget for the entirety of the ensuing fiscal year.   Balanced shall be defined as expenditures not to exceed revenues except in time of war as declared by Congress.   Revenues shall be defined as monies received; not monies predicted, anticipated, or forecasted.   Unfunded liabilities, obligations, and/or mandates shall be included in the calculation of the Balanced Federal Budget."
  • NUMBER FOUR: "The Fourteenth, Sixteenth, and Seventeenth Amendments to the Constitution of the United States are hereby repealed.   All Federal agencies, programs, laws, rules, regulations, and/or orders created, passed, or handed down as a direct or indirect result of the Fourteenth, Sixteenth, and/or Seventeenth Amendments are hereby stricken from Law, declared null and void, and have no force of effect."
  • NUMBER FIVE: "Section One:     Only persons born of two parents, both of whom are citizens of the United States at the time of the birth of the person, shall be citizens of the United States unless naturalized under the terms and conditions of the Constitution of the United States. Section Two:      Only United States Citizens shall enjoy or receive all rights, benefits, and privileges of United States Citizenship. Section Three:   Non-citizens shall not receive, directly or indirectly, Federal or Constitutional benefits, privileges, or protections."
  • NUMBER SIX:   "The several States are hereby empowered, individually or collectively, to enforce the Constitution of the United States and Federal Law, within their respective borders, regardless of Federal resistance or objections."
  • NUMBER SEVEN:   "Section One:   The Second Amendment to the Constitution of the United States shall be interpreted to mean the FUNDAMENTAL right of individual citizens and/or groups of citizens to keep and bear arms; in their homes and/or other properties, in public and private, and on their persons. Section Two:    Non-citizens and persons convicted of a violent felony by a jury of their peers do not have this right."
  • NUMBER EIGHT: "The First Amendment to the Constitution of the United States shall not be interpreted to prohibit or restrict the peaceful, free exercise or expression of religion, in public or private, or in or on public property."
  • Gary Edwards on 16 Jan 15
     
    "Possible Constitutional Amendments in the event of an Article V Convention of States Posted by Oren Long on January 12, 2015 at 3:42am in Tea PartyView Discussions ARTICLE V CONVENTION OF STATES; ARE YOU WILLING TO CHANGE THE STATUS QUO IN D.C.?   One of our astute and true conservative members of this site has drafted suggested changes to the Constitution to be proposed in an Article V, Convention of States. I know many of you have seen his postings on here about this issue. Mr. Oren Long is very knowledgeable and well educated and has honorably served our country. He has put a tremendous amount of time and thought into ways to, in his words, "armor and reinforce" the Constitution and return it to its Original Intent, as envisioned by the Founders. Therefore, because I agree with every one of his suggested changes, I am publishing it for him, with his permission. I truly hope that we, as a group, as conservatives and as a people who believe that our country is heading toward disaster, because of the course we are on, I fully endorse his recommended suggestions. I believe that we must take any and every course of action we can to "stop the madness" It is quite long, so PLEASE take the time to read each and every one of them. I am sure that some or many, may have suggestions to this document and they are welcome and open to discussion. If you agree with this, please call your State elected officials and urge them to get on board with an Article V Convention of States. To review or obtain more information of this process, please visit one of these sites:    http://www.conventionofstates.com/           http://www.cosaction.com/              To Whom It May Concern, The following is neither sanctioned by nor proposed by the Article V Convention of States Project.   Rather, it is entirely my work as a volunteer for the Convention of States Project.   To give you an overview of the kinds of amendments that may or may not be consid
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Stopping America's Federal Debt Explosion by Martin Feldstein - Project Syndicate - 0 views

www.project-syndicate.org/...on-by-martin-feldstein-2016-02 martin-feldstein National-debt Banksters
shared by Gary Edwards on 27 Feb 16 - No Cached
  • the fiscal deficit is the most serious long-term economic problem facing US policymakers.
  • A decade ago, the federal debt was just 35% of GDP. It is now more than double that and projected to reach 86% in 2016. But that’s just the beginning. The annual budget deficit projected for 2016 is 5% of GDP. If it stays at that level, the debt ratio would eventually rise to 125%.
  • The high and rising level of the national debt hurts the US economy in many ways. Paying the interest requires higher federal taxes or a larger budget deficit. In 2016, the interest on the national debt is equal to nearly 16% of the revenue from personal income tax. By 2026, the projected interest on the national debt will equal more than 31% of this revenue, even if interest rates rise as slowly as the CBO projects.
  • ...3 more annotations...
  • the time will come when the US will have to pay the interest by exporting more goods and services than it imports. And boosting net exports will require a weaker dollar to make US products more attractive to foreign buyers and foreign goods more expensive to US buyers, implying a loss in Americans’ standard of living.
  • Increased borrowing by the federal government also means crowding out the private sector. Lower borrowing and capital investment by firms reduces future productivity growth and growth in real incomes.
  • Federal taxes now take 18.3% of GDP and are projected to remain at that level for the next decade, unless tax rules or rates are changed. The rate structure for personal taxation has changed over the past 30 years, with the top tax rate rising from 28% in 1986 to more than 40% now. The corporate rate of 35% is already the highest in the industrial world.
  • Gary Edwards on 27 Feb 16
     
    "CAMBRIDGE - The US Congressional Budget Office (CBO) has just delivered the bad news that the national debt is now rising faster than GDP and heading toward ratios that we usually associate with Italy or Spain. That confirms my view that the fiscal deficit is the most serious long-term economic problem facing US policymakers. A decade ago, the federal debt was just 35% of GDP. It is now more than double that and projected to reach 86% in 2016. But that's just the beginning. The annual budget deficit projected for 2016 is 5% of GDP. If it stays at that level, the debt ratio would eventually rise to 125%. Support Project Syndicate's mission Project Syndicate needs your help to provide readers everywhere equal access to the ideas and debates shaping their lives. LEARN MORE Even that projection assumes that interest rates on the national debt will rise slowly, averaging less than 3.5% in 2026. But if the US debt ratio really is on the fast track to triple-digit levels, investors in the US and abroad may rightly fear that the government has lost control of the budget process. With debt exploding, foreign bondholders could begin to worry that the US will find a way to reduce its real value by stoking inflation or imposing a withholding tax on all government bond interest. In that case, investors will insist on a risk premium: higher interest rates on Treasury debt. Higher interest rates, in turn, would increase the deficit - and thus the future level of the debt ratio - even more. The high and rising level of the national debt hurts the US economy in many ways. Paying the interest requires higher federal taxes or a larger budget deficit. In 2016, the interest on the national debt is equal to nearly 16% of the revenue from personal income tax. By 2026, the projected interest on the national debt will equal more than 31% of this revenue, even if interest rates rise as slowly as the CBO projects. Foreign investors now own more than half of net government debt, and
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Romney Did Not Lose - 0 views

gulagbound.com/...romney-did-not-lose Obama election-fraud election-2012 corruption coup-d'état
shared by Gary Edwards on 13 Nov 12 - No Cached
  • Gary Edwards on 13 Nov 12
     
    excerpt: I'm still formulating how I need to proceed in light of this new understanding, but what I know, and what I need to factor into my future calculations is the fact that we - the people who love our country and favor fiscal sanity and subscribe to the ideals of the Founders - are not outnumbered. We remain in the majority. I can't remember ever having been here. I grew up in the '60s, but served in the military rather than in Haight-Ashbury. I raised my family to be responsible and self-sufficient, just as my parents did. I guess you could say I was more or less aligned with the "establishment" of the day, even though I have for years disagreed with the trend toward more socialism and fascism. Today, the Establishment has crossed a line. They have arrayed themselves against the majority of the American people. I won't be joining them. I won't be agreeing with them. I won't be accepting their "truth." I will, instead, stand for my truth. And I suspect I am not alone. The usurpers (for I can't reasonably refer to them otherwise) are now the "establishment" even though they are really in the minority. So… that makes us… what? Well, what do you call someone who stands against the Establishment? Feels kinda odd to be in those shoes, doesn't it? Welcome to the Resistance. ......................... ...................................... Historical data on 56 previous elections indicate at least 15 to 20 million votes flipped and missing. Data available for everyone right in front of our eyes. Out of 56 presidential elections there were only 7 elections that voter turn out was down from previous elections. The combined total for all 7 elections is 13,428,613 or 0.73% out of all 56 elections generating 1,835,207,811 votes. These 7 elections had events such as war of 1812, civil war, ww2, stock market crash attached to declines in voter turn out. The average growth in all presidential elections is 2,892,573 per election. The
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Do You Live In A Death Spiral State? - Forbes - 0 views

www.forbes.com/...u-live-in-a-death-spiral-state William-Baldwin Forbes Death-Spiral-States
shared by Gary Edwards on 27 Nov 12 - No Cached
  • Gary Edwards on 27 Nov 12
     
    Takers vs. Makers.  It all comes down to that ratio.  Incredibly, California is not at the top of high risk States!  New Mexico holds that honor. excerpt: Don't buy a house in a state where private sector workers are outnumbered by folks dependent on government. Thinking about buying a house? Or a municipal bond? Be careful where you put your capital. Don't put it in a state at high risk of a fiscal tailspin. Eleven states make our list of danger spots for investors. They can look forward to a rising tax burden, deteriorating state finances and an exodus of employers. The list includes California, New York, Illinois and Ohio, along with some smaller states like New Mexico and Hawaii. "Ranked on the taker/maker ratio, our 11 death spiral states range from New Mexico, with 1.53 takers for every maker, down to Ohio, with a 1-to-1 ratio. The taker count is the number of state and local government workers plus the number of people on Medicaid plus 1 for each $100,000 of unfunded pension liabilities. Sources: the Bureau of Labor Statistics, the Kaiser Commission on Medicaid and a study of state worker pensions done in 2009 by two academics, Joshua Rauh and Rovert Novy-Marx. Professor Rauh estimates that the shortage in pension funding is on average a third higher today. The second element in the death spiral list is a scorecard of state credit-worthiness done by Conning & Co., a money manager known for its measures of risk in insurance company portfolios. Conning's analysis focuses more on dollars than body counts. Its formula downgrades states for large debts, an uncompetitive business climate, weak home prices and bad trends in employment."
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How to Avoid Blame and Maintain the GOP Brand as the Low-Tax Party | Western Free Press - 0 views

www.westernfreepress.com/...gop-brand-as-the-low-tax-party ge Federal-Reserve Federal-Reserve-Bankster-Cartel Econ101 David-Leeper Western-Free-Press Libertarian
shared by Gary Edwards on 10 Dec 12 - No Cached
  • Gary Edwards on 10 Dec 12
     
    Lots of comments posted on this page.  Search for "Econ101" and "garylyn" to find my comments.  I have posted here a surprisingly extensive explanation of how i became a libertarian. excerpt: "How's this for a simple GOP strategy to avoid blame for fiscal-cliff tax-rate increases and seize the public relations initiative from an overconfident president? Pass two simple bills in the House.  Bill A extends current tax rates for those with incomes of $250,000 or less.  Bill B extends current tax rates for all the rest.  Keep both bills just that simple - include nothing else in either one.  Both will pass in the House thanks to the Republican majority. As the bills are moving to the Senate, Speaker Boehner holds a press conference and begins with a short address to the American public to promote both bills. First, Boehner points out that Bill A should pass the Senate promptly and be signed by the president.  Reid and Obama have promised as much. Second, the Speaker points out that Bill B will be likely be blocked in the Senate and/or on the president's desk.  Reid and Obama have (virtually) promised to do that too. "
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Billionaires Warn Higher Taxes Could Prevent Them From Buying Politicians : The New Yorker - 0 views

www.newyorker.com/...m-from-buying-politicians.html fiscal cliff satire
shared by Paul Merrell on 10 Dec 12 - No Cached
  • Introducing a new wrinkle into the already fraught fiscal cliff showdown, a consortium of billionaires today warned that if their taxes are raised they will no longer have enough money to buy politicians.
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California: Urgent Last-Minute Action to Stop NDAA "Indefinite Detention" - Tenth Amend... - 1 views

blog.tenthamendmentcenter.com/...stop-ndaa-indefinite-detention tenth-amendment tenthers NDAA
shared by Gary Edwards on 08 Apr 13 - No Cached
  • Gary Edwards on 08 Apr 13
     
    From the Tenth Amendment Center:   "On Tuesday, April 9th, the California Assembly Public Safety Committee will hold a hearing and do-or-die vote on AB351.   Passage of this bill would be a serious setback to those advancing the power of "indefinite detention" in the United States. AB351 NEEDS YOUR HELP RIGHT NOW TO PASS. 1. CALL all the members of the Public Safety Committee.  Call in the evenings or on the weekend as well.  We want them to have a flood of messages in support by the time they have the hearing on Tuesday.  Be VERY respectful, but be strong. Urge each of them to vote YES on AB351. Tom Ammiano, chair (916) 319-2017 Melissa Melendez, vice-chair (916) 319-2067 Byron Jones-Sawyer, Sr. (916) 319-2059 Holly J. Mitchell (916) 319-2054 Bill Quirk (916) 319-2020 Nancy Skinner (916) 319-2015 Marie Waldron (916) 319-2075 "
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Senators discuss revising 9/11 resolution - John Bresnahan - POLITICO.com - 0 views

www.politico.com/...sing-911-resolution-90989.html war & peace AUMF congress
shared by Paul Merrell on 19 May 13 - No Cached
  • Top senators in both parties have begun talks to revise the congressional resolution authorizing the use of military force following the Sept. 11, 2001, attacks on the World Trade Center and the Pentagon, according to lawmakers and aides involved in the discussions.Though in its early stages, such a debate could cause serious heartburn for the White House and party leaders seeking to push through any revised use-of-force resolution. A Senate floor fight over replacing the 9/11 resolution could lead to broader political battles on critical areas of President Barack Obama’s national security policy, including the war in Afghanistan, the use of armed drone attacks against suspected terrorists, treatment of detainees held in Guantanamo Bay, and the scope of the president’s authority as commander-in-chief to combat terrorism worldwide.
  • The bipartisan Senate talks also come at a time when Obama is catching flak for his aggressive drone policy, and Sen. Rand Paul’s (R-Ky.) 13-hour filibuster on the issue struck a chord with some members of both parties. Senate Armed Services Committee Chair Carl Levin (D-Mich.), and Sens. Dick Durbin (D-Ill.) and John McCain (R-Ariz.) met recently to discuss the issue, the senators and their aides said.
  • Other senators involved in the talks include Bob Corker (R-Tenn.) and Lindsey Graham (R-S.C.). Corker is the ranking member on the Senate Foreign Relations Committee. Levin has scheduled a May 16 hearing of the Senate Armed Services Committee on the matter.
  • ...1 more annotation...
  • At stake is whether the 9/11 resolution is still relevant more than 12 years after it was adopted by Congress in the wake of the attacks by al Qaeda terrorists on the World Trade Center and Pentagon. Those attacks prompted an American-led invasion of Afghanistan, a military campaign that is still ongoing and could last for years longer, even after U.S. combat forces leave the troubled country in 2014. “We need to sit down among ourselves as senators and ask a very timely question. And that is whether the AUMF [authorization of use of military force] that we voted for in 2001 — every senator did who was serving at the time — whether that still serves America’s defense needs today,” Durbin told POLITICO in an interview.
  • Paul Merrell on 19 May 13
     
    The chicken hawks are at it again, trying to get a new Authorization for Use of Military Forces ("AUMF") that would authorize perpetual war. So much for fiscal conservatism.
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75 Economic Numbers From 2012 That Are Almost Too Crazy To Believe - 0 views

theeconomiccollapseblog.com/...re-almost-too-crazy-to-believe economic-collapse Obammunism Obamanomics
shared by Gary Edwards on 13 Jan 13 - No Cached
  • Gary Edwards on 13 Jan 13
     
    Thanks to Marbux we have this extraordinary collection of facts and figures describing the economic catastrophe that has hit the USA.  excerpt: "What a year 2012 has been!  The mainstream media continues to tell us what a "great job" the Obama administration and the Federal Reserve are doing of managing the economy, but meanwhile things just continue to get even worse for the poor and the middle class.  It is imperative that we educate the American people about the true condition of our economy and about why all of this is happening.  If nothing is done, our debt problems will continue to get worse, millions of jobs will continue to leave the country, small businesses will continue to be suffocated, the middle class will continue to collapse, and poverty in the United States will continue to explode.  Just "tweaking" things slightly is not going to fix our economy.  We need a fundamental change in direction.  Right now we are living in a bubble of debt-fueled false prosperity that allows us to continue to consume far more wealth than we produce, but when that bubble bursts we are going to experience the most painful economic "adjustment" that America has ever gone through.  We need to be able to explain to our fellow Americans what is coming, why it is coming and what needs to be done.  Hopefully the crazy economic numbers that I have included in this article will be shocking enough to wake some people up. The end of the year is a time when people tend to gather with family and friends more than they do during the rest of the year.  Hopefully many of you will use the list below as a tool to help start some conversations about the coming economic collapse with your loved ones.  Sadly, most Americans still tend to doubt that we are heading into economic oblivion.  So if you have someone among your family and friends that believes that everything is going to be "just fine", just show them these numbers.  They are a good summary of the problems that the U
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California NDAA Nullification Bill Passes Assembly Committee Unanimously - Tenth Amendm... - 1 views

blog.tenthamendmentcenter.com/...assembly-committee-unanimously AB351 NDAA-Nullification tenth-amendment
shared by Gary Edwards on 01 May 13 - No Cached
  • Gary Edwards on 01 May 13
     
    Absolutely stunning news!!!!  Tea Party Patriots and liberal progressive democrats have combined their efforts and passed the single most significant NDAA nullification Act yet.  AB351 now heads for debate and vote of the general California Assembly. "Today, the California Public Safety Committee voted unanimously in favor of Assembly Bill 351 (AB351), the California Liberty Preservation Act. Introduced by Republican Assemblymember Tim Donnelly, AB351 is a strong stand against "indefinite detention" as supposedly authorized by the National Defense Authorization Act (NDAA) of 2012.  It declares such federal power to be unconstitutional and also requires the entire state to refuse to enforce or assist its implementation.  A broad coalition officially supported the legislation and moved the normally partisan, and strongly democratic committee to support the republican-introduced legislation. AB351 was supported by the ACLU, Tenth Amendment Center, San Francisco 99% coalition, San Francisco Board of Supervisors, the Libertarian Party of California - and many others. AB351 establishes the proper constitutional role by first citing the 10th Amendment as limiting the power of the federal government as to that which has been delegated to it and nothing more. The Tenth Amendment to the United States Constitution authorizes the United States federal government to exercise only those powers specifically delegated to it in the United States Constitution. It then declares the indefinite detention powers under NDAA to be unconstitutional: Sections 1021 and 1022 of the National Defense Authorization Act for Fiscal Year 2012 (NDAA) codifies indefinite military detention without charge or trial of civilians captured far from any battlefield, violating the United States Constitution and corroding our nation's commitment to the rule of law Most importantly, the bill requires the entire state apparatus, including all local governments, to refuse to implement the fede
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Rand Paul's Tea Party Response: Full Text - 0 views

www.newsmax.com/...490118 Rand-Paul Libertarian USA-Constitution
shared by Gary Edwards on 13 Feb 13 - No Cached
  • With my five-year budget, millions of jobs would be created by cutting the corporate income tax in half, by creating a flat personal income tax of 17%, and by cutting the regulations that are strangling American businesses.
  • America has much greatness left in her. We will begin to thrive again when we begin to believe in ourselves again, when we regain our respect for our founding documents, when we balance our budget, when we understand that capitalism and free markets and free individuals are what creates our nation’s prosperity.
  • Gary Edwards on 13 Feb 13
     
    Outstanding statement about what made America great, an dhow are government is destroying that greatness.  This is the full Text of Sen. Rand Paul's Tea Party Response to Obama's State of the Union Address: I speak to you tonight from Washington, D.C. The state of our economy is tenuous but our people remain the greatest example of freedom and prosperity the world has ever known. People say America is exceptional. I agree, but it's not the complexion of our skin or the twists in our DNA that make us unique. America is exceptional because we were founded upon the notion that everyone should be free to pursue life, liberty, and happiness. For the first time in history, men and women were guaranteed a chance to succeed based NOT on who your parents were but on your own initiative and desire to work. We are in danger, though, of forgetting what made us great. The President seems to think the country can continue to borrow $50,000 per second. The President believes that we should just squeeze more money out of those who are working. The path we are on is not sustainable, but few in Congress or in this Administration seem to recognize that their actions are endangering the prosperity of this great nation. Ronald Reagan said, government is not the answer to the problem, government is the problem. Tonight, the President told the nation he disagrees. President Obama believes government is the solution: More government, more taxes, more debt. What the President fails to grasp is that the American system that rewards hard work is what made America so prosperous. What America needs is not Robin Hood but Adam Smith. In the year we won our independence, Adam Smith described what creates the Wealth of Nations. He described a limited government that largely did not interfere with individuals and their pursuit of happiness. All that we are, all that we wish to be is now threatened by the notion that you can have something for nothing, that you can have your cake and ea
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Saudi Arabia in Search of a New Course | nsnbc international - 0 views

nsnbc.me/...abia-in-search-of-a-new-course war & peace economic war Saudis oil-prices Syria
shared by Paul Merrell on 19 Oct 15 - No Cached
  • Saudi Arabia, one of the wealthiest countries in the world, is experiencing serious financial problems. The ongoing plummeting of oil prices is forcing the Saudis to be more careful with money. Tens of billions of dollars invested abroad are making a return to the kingdom. In July 2015, Saudi Arabia’s authorities, for the first time in 8 years, issued governmental bonds worth $4 bn.
  • Bloomberg reports that Saudi Arabia has already withdrawn $50-70 bn, which it had previously invested worldwide through management companies. It is noteworthy that the country has been withdrawing funds for the past six months. For example, Saudi Arabia’s SAMA Foreign Holdings reached its maximum in August 2014, having amounted to $737 bn. But since then, the fund has been shrinking because oil prices have dropped more than twice in this period. Saudi Arabia’s budget deficit is forecast to reach 20%; however, reduction of expenditures still remains a sensitive topic. In the context of the continuous fall in oil prices, Riyadh has worked out a plan to gradually reduce public spending to cope with a sharp decrease in budget revenues caused by the slumping oil prices. For example, Saudi Arabia’s Ministry of Finance has issued an order prescribing all state companies to temporary stop hiring new employees and launching new projects until the end of the fiscal year. In addition, the government procurement of new cars and furniture has also been put on hold as well as the signing and approval of new lease agreements for state institutions and enterprises. The expropriation of plots of land for the purpose of the subsequent extraction of oil has also been suspended throughout the country. The Ministry of Finance has, at the same time, demanded an acceleration in the collection procedure of oil revenues.
  • “To prove that the country indeed has a sound fiscal discipline, the government has to take steps to cut expenditures in the 4th quarter. Subsequently Saudi Arabia will be compelled to find new ways to reduce expenditures and boost efficiency in order to assure there will be no budget deficit in 2016,” John Sfakianakis, Director of the Middle East Division of the Ashmore Group, said in his interview to Bloomberg. It should be pointed out in that regard that oil revenues comprise about 90% of Saudi Arabia’s budget, and the landslide of oil prices of over 40% within the last 12 months adversely affected the country’s financial standing. And, although the kingdom’s debt burden remains one of the lowest in the world (less than 2% of the GDP), the kingdom’s international assets have been consistently shrinking for the last nine months and reached a two year minimum. This situation directly influences the policy of OPEC since Saudi Arabia (which extracts almost 30% of the OPEC’s oil, positions itself as an extremely influential raw material supplier, maintains powerful military forces, and has its own global ambitions, immense resources and substantial diplomatic experience) de facto plays the role of the shadow leader of this organization. At times siding with the US, and then pursuing its own interests, the kingdom has assumed such an influential position in the international community that other countries revere its opinion, and as for the last oil crisis, Saudi Arabia is seen as its key player.
  • ...3 more annotations...
  • And, based on the information provided by the international mass media, the Saudi leadership has split in their opinion on whether to continue funding Syria or to begin reducing their financial commitment. “Riyadh is facing a choice: to give more support to the moderate opposition or to look for a compromise,” an American expert on national security, James Farvell, wrote in The National Interest. The expert explained that if Saudis offer more support, that would trigger a confrontation with Russia, but if they side with Moscow, Russia’s regional influence might be reinforced and that might, in turn, challenge Saudi Arabia’s interests. Because of this dilemma, controversial information regarding Saudi’s decisions are appearing in the press. On the one hand, Saudi Arabia was one of the first to condemn Russia after the beginning of the Russian military operation in Syria on September 30. It accused Russia of bombing the troops of moderate opposition instead of ISIS. “These attacks resulted in the deaths of numerous innocent victims. We call for a stop it immediately,” demagogically and groundlessly said the representative of Saudi Arabia Abdallah al-Muallimi in the UN. Simultaneously 53 religious leaders signed an online appeal to support a jihad against the Syrian authorities as well as the presence of Russia and Iran in this country. They appealed to the countries of the Muslim world to render “moral, financial, military and political support to those who are called the ‘holy warriors of Syria’.” The authors of the appeal explicitly stated that if they fail, the other Sunni states in the region, and, first of all, Saudi Arabia will be the next victims.
  • With reference to a high-ranking Saudi official who wished to remain anonymous, the BBC stated that armed groups of the so-called moderate opposition would receive new, high-tech weapons, including tank destroyers. Jaish al-Fath, The Free Syrian Army and The Southern Front moderate opposition groups will also receive support. According to the source, it is quite likely that the “moderate opposition” in Syria will receive surface-to-air systems as well. Keeping in mind that Russia is carrying out air strikes across not only the facilities of ISIS, but also the above listed groups, a scenario when Saudis turn their weapon against Russian aviation is quite possible. On the other hand, a curious document, apparently a copy of the instructions issued for the embassies of Saudi Arabia in the Middle Eastern countries, has been uploaded to the Internet. The main idea of the documents is that all the diplomatic representative offices should gradually cease financial support of the armed Syrian opposition, apparently owing to the low efficiency of militants’ activities. The authenticity of the document raises certain doubts, as is always the case with such documents. However, specialists in the Arabic language concluded that the text was written by a native speaker, and that the document’s design conforms to the style adopted in Saudi Arabia. It shouldn’t be ruled out that the drying up of the source of funding, that militants used to receive from the Saudis, against the backdrop of a certain degree of success of the government troops as well as the increasing military and technical assistance to Syria on the part of Russia, have convinced many “oppositionists” to surrender and change masters. This process is expected to only accelerate in the future.
  • On Sunday, October 11, the Defense Minister, Mohammed bin Salman, visited Sochi. The search for common ground on the issues related to the situation in Syria was the main theme of the meeting held by the son of the Saudi king and Vladimir Putin. The parties also discussed the prospects of their economic cooperation. And, since Saudi Arabia is currently experiencing certain financial difficulties and is in the “clutches” of economic uncertainty, this topic was of a special interest. It was the second visit to the Russian Federation of the Saudi prince, who currently carries out sensitive missions related to the complex relations between the two countries. It should be noted that King of Saudi Arabia Salman bin Abdulaziz Al Saud has been admitted to hospital in a critical condition and is currently being kept in the intensive care unit of the King Faisal royal hospital in Riyadh.
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More Bang for the Buck - nsnbc international | nsnbc international - 0 views

nsnbc.me/...more-bang-for-the-buck war & peace weapons U.S. Russia
shared by Paul Merrell on 31 Oct 16 - No Cached
  • More bang for the buck is the most apt description when we compare spending of the United States Government with that of the Government of the Russian Federation on its defense sector and military technology development. A closer look at the two budgets reveals the huge fault line that cuts across the entire US economy today. It also mirrors the true collapse of the American hegemon as a world power. It need not have been.
  • In the official Fiscal Year 2017 the US Department of Defense officially requested $523.9 billion in what they call “discretionary funding,” as in, “we use it as we please, no independent audit allowed.” Another $58.8 billion was requested for so-called Overseas Contingency Operations, typical Pentagon-speak for wars everywhere from Afghanistan to Syria to military operations around the South China sea. That made an official total of $583 billion requested and granted by a docile Congress. On October 13, the Russian wire-service Tass.ru reported that the Russian government is set to spend 948.59 billion rubles on national defense in 2017, according to the draft federal budget posted. It sounds like a lot, almost one trillion rubles. If we convert at the current dollar exchange rate, this translates into a mere $15 billion. Of that 793.79 billion rubles or $12.7 billion is planned to be spent on the Russian Armed Forces. In 2015 the Russian Federation spent $26 billion on the state military-industrial complex development program will reach 1.67 trillion rubles. That total for military industry investment and maintaining Russia’s armed forces, some $49 billion, equals 8.4 % of the dollar amount the United States Defense Department plays with annually. To that must be added the separate amount of $400 billion for modernization of Russian armed forces military capabilities by 2020. That’s roughly another $80 billion a year.
  • Now the relevant question at a time when Washington-led NATO forces are aggressively moving to the borders of the Russian Federation, when US Pentagon Special Forces and mercenaries like Blackwater aka Academi are mucking around Ukraine causing mischief, destruction and murder, is which country is getting better defense or military capacities for every dollar spent.
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  • The answer came following the September 30, 2015 Russian announcement that it had agreed to respond with military support to the call of the legitimate government of Syria. What Russian military efforts have accomplished with meager resources, has astonished most western military experts. Far from being the dilapidated, technologically obsolescent Soviet-era military that many US planners reckon, Russia’s armed forces have undergone a quiet and impressive modernization ever since it became clear around 2007 that Washington was intent on pushing NATO to Moscow’s front door in Ukraine and Georgia as well as threatening with US missile “defense” in Poland, Czech Republic and now also in Bulgaria, Romania and Turkey. Russian Defense Minister Sergey Shiogu is a remarkable organizer who is known for reorganizing large Russian government departments. Before becoming Defense Minister he was head of the large Russian Ministry of Emergency Situations, responsible for emergency situations, such as floods, earthquakes and acts of terrorism. The result of Russia’s military modernization, partly demonstrated in the military intervention in Syria, has been a strategic shift in the global military balance of power that Washington’s neo-conservatives, none of whom have served in active duty military theatres, did not reckon with. Russian science and engineering have accomplished astonishing results with minimum investment. Just a select glance at what is being developed is instructive.
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Trump's travel ban has revoked 60,000 visas for now - 0 views

www.yahoo.com/...id-trump-travel-170209120.html Trump immigration visas
shared by Paul Merrell on 05 Feb 17 - No Cached
  • About 60,000 visas were revoked under U.S. President Donald Trump's executive order temporarily halting immigration from seven Muslim-majority countries, the State Department said on Friday, in one of several government communications clarifying how the order is being rolled out.The revocation means the government voided travel visas for people trying to enter the United States but the visas could be restored later without a new application, said William Cocks, a spokesman for consular affairs at the State Department."We will communicate updates to affected travelers following the 90-day review," he said.Earlier news reports, citing a government attorney at a federal court hearing, put the figure at more than 100,000 visas.The government issued over 11 million immigrant and non-immigrant visas in fiscal year 2015, the State Department said.The immigration executive order signed by Trump a week ago temporarily halted the U.S. refugee program and imposed a 90-day suspension on people traveling from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen. Trump said the measures would help protect Americans from terrorist attacks.
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CARPE DIEM: Anti-Keynesian Supply Side Tax and Spending Cuts in Sweden, and the Finance... - 0 views

mjperry.blogspot.com/...esian-supply-side-tax-and.html Sweden Reagan-supply-side-economics Reaganomics
shared by Gary Edwards on 09 May 12 - No Cached
  • Gary Edwards on 09 May 12
     
    Sweden's Finance Minister Anders Borg is proving that Krugman and all those Keynesian big time stimulous spenders are wrong.  Reagan supply-side economics works every time it's tried.  And Sweden is proving it every day.  Instead of borrowing to stimulate, Borg flattened and cut taxes while gutting unsustainable government welfare spending.  Put the productive resources in the hands of those who are productive, and magic happens.  Capitalism has a home in Sweden, of all places. excerpt: "When Europe's finance ministers meet for a group photo, it's easy to spot the rebel - Anders Borg (pictured above) has a ponytail and earring. What actually marks him out, though, is how he responded to the crash. While most countries in Europe borrowed massively, Borg did not. Since becoming Sweden's finance minister, his mission has been to pare back government. His 'stimulus' was a permanent tax cut. To critics, this was fiscal lunacy. Borg, on the other hand, thought lunacy meant repeating the economics of the 1970s and expecting a different result. Three years on, it's pretty clear who was right. "Look at Spain, Portugal or the UK, whose governments were arguing for large temporary stimulus," he says. "Well, we can see that very little of the stimulus went to the economy. But they are stuck with the debt." Tax-cutting Sweden, by contrast, had the fastest growth in Europe last year, when it also celebrated the abolition of its deficit. The recovery started just in time for the 2010 Swedish election, in which the Conservatives were re-elected for the first time in history.
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ESR | February 20, 2012 | The Federal Reserve rip-off - 0 views

www.enterstageright.com/...0212federserveripoff.htm Federal-Reserve-Bankster-Cartel Banksters
shared by Gary Edwards on 19 Feb 12 - No Cached
  • Gary Edwards on 19 Feb 12
     
    Ron Paul racks up another near win, as conservative writer Alan Caruba smells the coffee and starts paying attention to the criminal enterprise known as the Federal Reserve Bankster Cartel.  It's about time.  But sadly there are too few conservatives paying attention to the money.  Sadly, conservatives choose to wallow in 1980 political issues where conservative social values and national security - military buildup were the concerns of the day. The truth is that it's always the money.  Follow the money!!  And all things will become clear.  Including how to get America back on track. excerpt: Anyone taking notice of Obama's latest budget has to conclude that his mission is to crash the nation's economy and turn America into a Socialist worker's paradise. The only problem is that Socialism has been a dismal failure everywhere it has been tried. One only has to look at the collapse of the Soviet Union for confirmation of that, the Chinese abandonment of Communist economic theory, and Obama's odd notion that a nation can spend itself out of ever-increasing debt. I am not a fan of Paul's isolationism, but he is absolutely right about getting rid of the Federal Reserve. Established in 1913, the same year income taxes were instituted, the Reserve is not part of the federal government. It is, in fact, privately owned by a consortium of banks and that might include foreign banks as well. In a remarkable essay, "10 Things That Every American Should Know About The Federal Reserve" by Michael T. Snyder, it is clear that the Constitution intended to have the U.S. Treasury to be soley responsible to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures." Synder points out that the Federal Reserve System (the Fed) is a privately owned banking cartel and one granted the right to create money out of thin air. It is, says Synder "a perpetual debt machine because "whenever more money is created, more debt is creat
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Gang of 545 and The Basic Flaw by Charley Reese - 2 views

www.lewrockwell.com/...reese494.html Charlie-Reese Libertarian Gang-of-545
shared by Gary Edwards on 31 May 12 - No Cached
  • Gary Edwards on 31 May 12
     
    Enough said.  Beautifully done Charlie! intro: Politicians are the only people in the world who create problems and then campaign against them. Have you ever wondered why, if both the Democrats and the Republicans are against deficits, we have deficits? Have you ever wondered why, if all the politicians are against inflation and high taxes, we have inflation and high taxes? You and I don't propose a federal budget. The president does. You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does. You and I don't write the tax code. Congress does. You and I don't set fiscal policy. Congress does. You and I don't control monetary policy. The Federal Reserve Bank does. One hundred senators, 435 congressmen, one president and nine Supreme Court justices - 545 human beings out of the 235 million - are directly, legally, morally and individually responsible for the domestic problems that plague this country.
  • Gary Edwards on 31 May 12
     
    Bay Area Patriot Group post
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