You Ain't Seen Nothing Yet - Part 3
Who will buy our debt in the coming months and years? Europe is saturated with debt and doesn’t have the means to purchase our debt. Japan is a train wreck waiting to happen. China’s customers aren’t buying their crap, so their economic miracle is about to go in reverse. The Federal Reserve cannot buy $1 trillion of Treasury bonds per year forever without creating more speculative bubbles and raging inflation in the things people need to live. The Minsky Moment will be the point when the U.S. Treasury begins having funding problems due to the spiraling debt incurred in financing perpetual government deficits. At this point no buyer will be found to bid at 2% to 3% yields for U.S. Treasuries; consequently, a major sell-off will ensue leading to a sudden and precipitous collapse in market clearing asset prices and a sharp drop in market liquidity. In layman terms that means – the shit will hit the fan. The Federal Reserve and Treasury will be caught in their own web of lies. The only way to attract buyers will be to dramatically increase interest rates. Doing this in a country up to its eyeballs in debt will be suicide. We will abruptly know how it feels to be Greek....The entire financial world is hopelessly entangled by the $700 trillion of derivatives that ensure mass destruction if one of the dominoes falls. This is the reason an otherwise inconsequential country like Greece had to be “saved”.
Global Collapse Explained
by Brittany Stepniak, WealthWire.com:
Back in February, CNN reported on the growing allure of the “shiny new currencies made of silver and gold” as over a dozen states across the nation contemplated an alternative currency.
Back in February, CNN reported on the growing allure of the “shiny new currencies made of silver and gold” as over a dozen states across the nation contemplated an alternative currency.
Fast forward two months into present day and the South Carolina House has given the go ahead to use gold and silver as real money.
As local and state economies attempt to
ward off devastating fiscal disasters amidst the plummeting value of the
dollar, lawmakers in states all over the country are considering
passing laws that would make gold and silver legal forms of currency.
Last year, Utah led this movement by becoming the very first state in the United States of America to officially legalize silver and gold coins as legal tender.
Around that same time last year, North
Carolina Republican Representative Glen Bradley addressed the issue in a
currency bill demanding protection from hyperinflation, depression and
other financial blunders brought on by the “breakdown of the Federal
Reserve” in lieu of the Constitution banning states from printing their
own paper money and/or issuing their own currency.
Now, a similar bill has been approved by The House Judiciary Committee in South Carolina.
Although gold and silver could be used as legal tender, area businesses
do have the power to decline either type of coin as a form of payment
if they so choose.
Read More @ WealthWire.com
by Mac Slavo, SHTFPlan:
While it has for the most part disappeared from mainstream view, the
Fukushima nuclear disaster is anything but over. In fact, the situation
in Japan has gone from bad to worse.
Bottom line: There is no way to contain the radiation.
Even more alarming is that the U.S. Nuclear Regulatory Commission (NRC) and other agencies have warned that the nuclear storage pools (the containment units that are being used to cool the nuclear fuel) have been damaged and may collapse under their own weight.
Such an event would cause widespread nuclear fallout throughout the region and force the government to evacuate the nearly 10 million residents of Tokyo and surrounding areas, a scenario which government emergency planners are now taking into serious consideration.
Read More @ SHTFPlan
While it has for the most part disappeared from mainstream view, the
Fukushima nuclear disaster is anything but over. In fact, the situation
in Japan has gone from bad to worse.Bottom line: There is no way to contain the radiation.
Even more alarming is that the U.S. Nuclear Regulatory Commission (NRC) and other agencies have warned that the nuclear storage pools (the containment units that are being used to cool the nuclear fuel) have been damaged and may collapse under their own weight.
Such an event would cause widespread nuclear fallout throughout the region and force the government to evacuate the nearly 10 million residents of Tokyo and surrounding areas, a scenario which government emergency planners are now taking into serious consideration.
Read More @ SHTFPlan
America: The List
Let's get it all out there. America's dirty laundry that is. Our family secrets. The skeletons in the closet. The goal is to create a list of the many and numerous ways in which our country is deluding itself into believing we are the greatest, smartest, most innovative, freedom loving country that ever was. Don't get me wrong, I'm not some unpatriotic ne'er do well. I love what the Founding Fathers of our country set out to accomplish, faults and all. I love it so much, I was willing to put my life on the line for this country by serving in a US Marine Corps special forces unit for 8 years (your move armchair patriot). But we have drifted so far from the original concepts, I believe our current central planning apparatus more closely resembles the USSR than what most people think is the USA. So I'm going to kick this list off but in no way do I intend this to be exhaustive.Panic Selling Engulfing Gold Shares
Eric De Groot at Eric De Groot - 14 minutes ago
Chip: [being spanked as part of Omega's initiation] Thank you, sir! May I
have another?, Animal House (1978) The chart below suggests that either
we're on the cusp of another Lehman style event or panic selling has
thoroughly engulfed the gold miners. Cycles point to 2015 as the next
crisis, so probabilities favor the later. The invisible hand, just like
2008, accumulates...
[[ This is a content summary only. Visit my website for full links, other
content, and more! ]]
Strictly A Rhetorical Question...
Dave in Denver at The Golden Truth - 1 hour ago
...because the answers is obvious.
*How* will the U.S. Government fund all of the additional budget deficit
spending that has already been built into this year's spending plans if the
Fed does not print money in some fashion in order to help finance all of
the new Treasury debt issuance in 2012?
Before you answer this, you need to be aware, and you can use google to
find the numerous sources of this data, from the time QE2 commenced until
it ended the Fed directly or indirectly purchased over 100% of of all new
Treasury debt issuance during that time period. In other words, it al... more »
"The Boredom Discount": Why Greater Risk Does Not Lead To Greater Return
Confused
by stock bubbles and furious episodes of manic market euphoria?
SocGen's Dylan Grice explains it in one brief sentence: "we’re hardwired to overvalue excitement and undervalue boredom."More Echoes From 2011 As European Stocks Signal Trouble Ahead
As
the mainstream media gets over-run with 'buy-the-dippers' and 'healthy
retracement' protagonists with the S&P down a monstrous 1.5% from
its highs, it is perhaps worth noting (h/t Doug Kass) that Europe's
broad equity market index is now down over 5% from it's peak two weeks
ago (as is the UK's FTSE index). In yet another echo of last
year's liquidity-fueled spurt-and-slump, European equity markets (along
with US and European credit markets as we have already noted) are
sending a warning signal that trouble may lay immediately ahead for US
equities. The Euro-Stoxx index has just crossed below its
100DMA for the first time in over 4 months having dropped over 4% on the
last two days. Add to this size of margin debt (as we noted earlier) and the ultra-low levels of cash at equity mutual funds
and what is now the largest drop since the rally began (an incredible
fact that we have hardly dropped more than 2% peak to trough in five
months in Cembalest's sweet serenity) may well mean more pain is to come.Jon Hilsenrath Is Wrong: Why Operation Twist Will Not Be Extended
Yesterday, Goldman's Jan Hatzius, piggybacking on what has now become a prevalent belief among Wall Street economists following a "leak" from the WSJ's Jon Hilsenrath, predicted that the FOMC minutes would hint at more easing, in the form of "sterilized" interventions, or in other words, an extension of Operation Twist. There is, however, one problem with this analysis. It is total BS, for a simple reason that for every bond on the long end that the Fed buys (and it has bought a whopping 91% of the 20-30 year gross Treasury issuance), it has to sell one in the 3 Month - 3 Year maturity interval. And therein lies the rub. As Bank of America shows below, at the end of Twist in June there will be just 2 months worth of Treasurys available for sale. What could fix this? Well, instead of ZIRP until 2014, Bernanke could say the Fed would keep rates at zero until 2016 or even 2018, and proceed to sell all Fed holdings in the 3 month - 5 year or 3 month - 7 year intervals. This however, would make the entire bond curve an epic farce, shifting the belly to beyond the 10 year point, and in the process blowing up the MBS market due to total collapse of traditional convexity heding strategies. Which we don't think is likely unless the world is coming to an end. In other words, anyone hoping that Twist will be extended, is wrong, and in turn it means that any real option for the Fed's NEW QE will be the outright monetization (aka LSAP) of either USTs or MBS, ala QE1 and QE2.
BTFD...
Precious Metals Taken Out to the Woodshed and Beaten. Again. Thanks for the Discount on REAL Money Banksters!
Another Day…
Another raping.
Silly Banksters, Physical is for Patriots.
Paper is for chumps.
GOLD: The Money of Kings
SILVER: The Achilles’ Heel
Never has there been a good time to suggest the ending of a relationship…Through thick and thin, a marriage is supposed to last forever, but when it no longer works, it sometimes is best to just step away. And whom better to give marriage advice than famed economists?
According to Roubini Global Economics, the marriage of the euro zone is beyond “on the rocks” and the chairman Nouriel Roubini feels the EU should accept its fate.
Frequently a guest contributor to the Financial Times, Roubini — along with managing director Arnab Das– believe that through various efforts from the European Central Banks, all of the deeply-rooted problems continue to be unresolved in Europe.
We’ve seen Long Term Refinancing Operations (LTRO), the attempt for the ECB to offer banks cheap loans to avert a credit crunch, fall on its face. There have even been reports of the LTRO funds being spent in Spain on bull-fighting events! That doesn’t sound like a success.
We’ve also seen, firsthand, the failures of recovery for Greece, as well as Portugal and Ireland. And both Das and Roubini feel the problems are insurmountable.
Read More @ WealthWire.com
by Charles Hugh Smith, Of Two Minds:
[...excerpt...] My new book “Resistance, Revolution, Liberation: A Model for Positive Change” is now available in the Kindle eBook format.
My summary of our unsustainable system and the pathway to a sustainable economy and society are laid out in my new book, Resistance, Revolution, Liberation: A Model for Positive Change.
I want to apologize to all of you who took the time to email me but did not receive a reply over the past six weeks. Rewriting this book absorbed every shred of my dwindling mental energy and time, and I will be a much more responsive correspondent once they pull the crushed keyboard from my catatonic fingers and my shattered mental health recovers a bit.
I am excited about this book because it ties together human nature, political and financial structures and our internal experience of liberation.
Read More @ OfTwoMinds.com
[...excerpt...] My new book “Resistance, Revolution, Liberation: A Model for Positive Change” is now available in the Kindle eBook format.My summary of our unsustainable system and the pathway to a sustainable economy and society are laid out in my new book, Resistance, Revolution, Liberation: A Model for Positive Change.
I want to apologize to all of you who took the time to email me but did not receive a reply over the past six weeks. Rewriting this book absorbed every shred of my dwindling mental energy and time, and I will be a much more responsive correspondent once they pull the crushed keyboard from my catatonic fingers and my shattered mental health recovers a bit.
I am excited about this book because it ties together human nature, political and financial structures and our internal experience of liberation.
Read More @ OfTwoMinds.com
by David Schectman, Miles Franklin:
Note in the following 24 Hour Sport Gold chart, the sudden “waterfall”
plunge in the price of gold. Of course, it happened AFTER the close of
the market (NYMEX) when the trading is thin and the market is easy to
manipulate.
Free markets, my arse! This is selling by a non-profit motivated seller. Someone or some entity WANTS gold to fall. It’s as simple as that. It’s been that way since $248. The name of the game is to keep the fall in the dollar minimal, and avoid panic. Gold is the canary in the mineshaft and it must be kept in check. But this only works short-term, and the headwinds of the bull market are too strong to keep the price down for long. It’s been that way all the way up since $248. The key number now is $1,764. It will spotlight the seriousness of the Greek default, the Mid East tensions, and the Supreme Court’s probable derailing of Obamacare. Once gold punches through this important price, the game changes – so says Jim Sinclair.
He also says $1,630 was the LOW for gold. The bottom is in. We may not see the action we want for another two months, but by June, we may well see an entirely new ball game. One that is very favorable for your gold investments.
Read More @ MilesFranklin.com
Note in the following 24 Hour Sport Gold chart, the sudden “waterfall”
plunge in the price of gold. Of course, it happened AFTER the close of
the market (NYMEX) when the trading is thin and the market is easy to
manipulate.Free markets, my arse! This is selling by a non-profit motivated seller. Someone or some entity WANTS gold to fall. It’s as simple as that. It’s been that way since $248. The name of the game is to keep the fall in the dollar minimal, and avoid panic. Gold is the canary in the mineshaft and it must be kept in check. But this only works short-term, and the headwinds of the bull market are too strong to keep the price down for long. It’s been that way all the way up since $248. The key number now is $1,764. It will spotlight the seriousness of the Greek default, the Mid East tensions, and the Supreme Court’s probable derailing of Obamacare. Once gold punches through this important price, the game changes – so says Jim Sinclair.
He also says $1,630 was the LOW for gold. The bottom is in. We may not see the action we want for another two months, but by June, we may well see an entirely new ball game. One that is very favorable for your gold investments.
Read More @ MilesFranklin.com
from Shepard Ambellas and Alex Thomas, The Intel Hub:
The summer of 2012 is fast approaching. As it inches closer, we will start to see a major increase in US and foreign troop movements as well as military equipment movements throughout the CONUS (Continental United States).
While many of the upcoming sightings may well be normal operations as the military does like to do training in the summer, the fact is that parts of our own military, along with foreign and UN troops, are actively planning to take on the American people.
National Level Exercise drills have been in effect for years now and have been covered by many alternative news sources, including The Intel Hub through our yearly Operation Overwatch which we use to gain intel and tips from the public in order to relay them to our readers.
Read More @ Intel Hub
The summer of 2012 is fast approaching. As it inches closer, we will start to see a major increase in US and foreign troop movements as well as military equipment movements throughout the CONUS (Continental United States).
While many of the upcoming sightings may well be normal operations as the military does like to do training in the summer, the fact is that parts of our own military, along with foreign and UN troops, are actively planning to take on the American people.
National Level Exercise drills have been in effect for years now and have been covered by many alternative news sources, including The Intel Hub through our yearly Operation Overwatch which we use to gain intel and tips from the public in order to relay them to our readers.
Read More @ Intel Hub
from Jim Treacher, DC Caller:
Baier:
Democrats put forward a budget that failed in the House. A version of
the president’s budget was voted on in the House and Democrats said it
was a stunt, but it fell 414-0. Senate Democrats have not passed a
budget resolution in 1,070 days. Why?
Carney: Come on, Bret. You can cite, and I know that you often do, the statistics that represent gimmickry and stunts and–
Baier: Wait, what’s “gimmickry” about not passing a budget in the Senate?
Carney: It is our preference that Congress work, and the Senate effectively pass a budget. But you know how–
Baier: So why doesn’t the president call Harry Reid and say, “Why don’t we get a budget on the table and vote on it?”
Read More @ Dailycaller.com
Baier:
Democrats put forward a budget that failed in the House. A version of
the president’s budget was voted on in the House and Democrats said it
was a stunt, but it fell 414-0. Senate Democrats have not passed a
budget resolution in 1,070 days. Why?Carney: Come on, Bret. You can cite, and I know that you often do, the statistics that represent gimmickry and stunts and–
Baier: Wait, what’s “gimmickry” about not passing a budget in the Senate?
Carney: It is our preference that Congress work, and the Senate effectively pass a budget. But you know how–
Baier: So why doesn’t the president call Harry Reid and say, “Why don’t we get a budget on the table and vote on it?”
Read More @ Dailycaller.com
by Matt Taibbi, Rolling Stone:
An amazing lawsuit
was filed in New York last week. It seems Mike Bloomberg’s notorious
“stop-and-frisk” policy – known colloquially in these parts by
silently-cheering white voters as the “Let’s have cops feel up any
nonwhite person caught walking in the wrong neighborhood” policy – isn’t
even the most repressive search policy in the NYPD arsenal.
Bloomberg, that great crossover Republican, has long been celebrated by the Upper West Side bourgeoisie for his enlightened views on gay rights and the environment, but also targeted for criticism by civil rights activists because of stop-and-frisk, a program that led to a record 684,330 street searches just last year.
Now he’s under fire for a program he inherited, which goes by the darkly Bushian name of the “Clean Halls program.” In effect since 1991, it allows police to execute so-called “vertical patrols” by going up into private buildings and conducting stop-and-frisk searches in hallways – with the landlord’s permission.
Read More @ RollingStone.com
[Ed. Note: Must SEE photos from the rally. One day soon, and once again, Liberty will reign in America!]
An amazing lawsuit
was filed in New York last week. It seems Mike Bloomberg’s notorious
“stop-and-frisk” policy – known colloquially in these parts by
silently-cheering white voters as the “Let’s have cops feel up any
nonwhite person caught walking in the wrong neighborhood” policy – isn’t
even the most repressive search policy in the NYPD arsenal.Bloomberg, that great crossover Republican, has long been celebrated by the Upper West Side bourgeoisie for his enlightened views on gay rights and the environment, but also targeted for criticism by civil rights activists because of stop-and-frisk, a program that led to a record 684,330 street searches just last year.
Now he’s under fire for a program he inherited, which goes by the darkly Bushian name of the “Clean Halls program.” In effect since 1991, it allows police to execute so-called “vertical patrols” by going up into private buildings and conducting stop-and-frisk searches in hallways – with the landlord’s permission.
Read More @ RollingStone.com
[Ed. Note: Must SEE photos from the rally. One day soon, and once again, Liberty will reign in America!]
Source Links for Today’s Items:
Fed policy makers appear less keen to
more money printing as economy improves. Only last week, Benji Bernanke
was talking stimulus and the economy has improved dramatically since
then? We even have academics saying that the U.S. is suffering the
worst economic recovery in U.S. history. If you can call it a
recovery. What is are these people at the FED smoking?
Spanish domestic banks are currently the
main buyers of Spanish government debt. Any possible Spanish bailout is
far from a forgone conclusion and given its size, the fate of the
Spanish economy will also largely decide the fate of the euro. So, when
the Spain is going down, so will the euro.
Brazil has a growing middle class and the
U.S. is obliged to help out with such matters as joining the Security
Council and other endeavors to boost recognition of Brazil on the
international stage. Brazil just doesn’t want a trade deal, nor military
co-operation with the US. Brazil just wants recognition and that only
costs a few words.
Aside from his usual skillful silver analysis, BrotherjohnF
goes on to read a comment that describes how a very large majority of
Americans are frightened of Ron Paul. 58% of Americans are dependent
upon government in some manner; thus Ron Paul’s promise to take away
their government cheese is terrifying. In short, we have met the enemy
and for many, they are staring at us from within a mirror.
The unconstitutional National Defense Authorization Act
is being challenged. The fact that Americans, on U.S. soil, can be
picked up and held indefinitely without recourse is clearly
unconstitutional. Habeas Corpus
is up there with free speech in constitutional importance. I can
easily say that it is about time that this law, along with Obamacare, be
thrown out.
Next…
45 Signs That America Will Soon Be A Nation With A Very Tiny Elite And The Rest Of Us Will Be Poor
http://endoftheamericandream.com
45 Signs That America Will Soon Be A Nation With A Very Tiny Elite And The Rest Of Us Will Be Poor
http://endoftheamericandream.com
Here are a few…
1. The wealthiest 1 percent of all Americans own more wealth than the bottom 95 percent combined.
2. The poverty rate for children living in the U.S. increased to 22% in 2010.
3. The average duration of unemployment in the U.S. is nearly three times as long as in the year 2000.
4. The average American household spent a staggering $4,155 on gasoline during 2011.
1. The wealthiest 1 percent of all Americans own more wealth than the bottom 95 percent combined.
2. The poverty rate for children living in the U.S. increased to 22% in 2010.
3. The average duration of unemployment in the U.S. is nearly three times as long as in the year 2000.
4. The average American household spent a staggering $4,155 on gasoline during 2011.
from Economic Policy Journal:
Ben Bernanke’s money printing is starting to hit the apartment rental markets. This is real consumer level price inflation. Not a good sign. This means that the price inflation is already moving beyond the capital goods sectors.
The apartment vacancy rate is expected to fall below 5% this year, crossing a benchmark into what it is commonly considered a “landlord’s market,” said Brad Doremus, senior analyst for Reis, a commercial real-estate research company. That means securing an apartment will become more difficult and rents are likely to be higher by the end of the year, reports MarketWatch.
Nationally, average advertised one bedroom rents have already gone up by 4.1% between March 2011 and March 2012, according to Apartments.com. The cities showing the most aggressive hikes in rent include Chicago where one bedrooms are, on average, priced at $1,451 in 2012, up 11% from $1,302 in 2011. In Denver, rents are $1,067 this year, up 12% from $950 last year and in Charlotte, rents are $876 this year, up 13% from $774 last year.
Read More @ EconomicPolicyJournal.com
Ben Bernanke’s money printing is starting to hit the apartment rental markets. This is real consumer level price inflation. Not a good sign. This means that the price inflation is already moving beyond the capital goods sectors.
The apartment vacancy rate is expected to fall below 5% this year, crossing a benchmark into what it is commonly considered a “landlord’s market,” said Brad Doremus, senior analyst for Reis, a commercial real-estate research company. That means securing an apartment will become more difficult and rents are likely to be higher by the end of the year, reports MarketWatch.
Nationally, average advertised one bedroom rents have already gone up by 4.1% between March 2011 and March 2012, according to Apartments.com. The cities showing the most aggressive hikes in rent include Chicago where one bedrooms are, on average, priced at $1,451 in 2012, up 11% from $1,302 in 2011. In Denver, rents are $1,067 this year, up 12% from $950 last year and in Charlotte, rents are $876 this year, up 13% from $774 last year.
Read More @ EconomicPolicyJournal.com
From Pat Buchanan, Lew Rockwell:
With
the shooting death of Trayvon Martin by a neighborhood watch volunteer
who was legally carrying a 9-millimeter handgun, the familiar wail has
arisen from our cultural and media elite:
America has too many guns!
“Open carry” and “concealed carry” laws should be repealed.
Florida’s “Stand-your-ground” law, replicated in two dozen states, threatens to turn America into the Tombstone of Doc Holiday and Wyatt Earp. This is insane!
The United Nations agrees. This year, the world body takes up the global control of firearms, including small arms in the hands of citizens.
According to Sen. Rand Paul, the U.N. “Small Arms Treaty” will almost surely mandate tougher licensing requirements to own a gun, require the confiscation and destruction of unauthorized civilian firearms, call for a ban on the trade, sale and private ownership of semi-automatic weapons, and create an international gun registry.
No more Colt .45s in the top drawer or M-1 rifles in the closet.
Memo to the UN: Lots of luck.
Read More @ Lew Rockwell.com
With
the shooting death of Trayvon Martin by a neighborhood watch volunteer
who was legally carrying a 9-millimeter handgun, the familiar wail has
arisen from our cultural and media elite:America has too many guns!
“Open carry” and “concealed carry” laws should be repealed.
Florida’s “Stand-your-ground” law, replicated in two dozen states, threatens to turn America into the Tombstone of Doc Holiday and Wyatt Earp. This is insane!
The United Nations agrees. This year, the world body takes up the global control of firearms, including small arms in the hands of citizens.
According to Sen. Rand Paul, the U.N. “Small Arms Treaty” will almost surely mandate tougher licensing requirements to own a gun, require the confiscation and destruction of unauthorized civilian firearms, call for a ban on the trade, sale and private ownership of semi-automatic weapons, and create an international gun registry.
No more Colt .45s in the top drawer or M-1 rifles in the closet.
Memo to the UN: Lots of luck.
Read More @ Lew Rockwell.com
from Greg Hunter, USAWatchdog:
President
Barak Obama gave a speech to newspaper executives about the recently
passed Republican budget in the House of Representatives. It proposes to
cut spending by more than $5 trillion over the next ten years.
Yesterday’s speech was, basically, a declaration of war against the GOP
and its vision of the government’s budget. The President said, “This
Congressional Republican budget is something different altogether. It
is a Trojan horse disguised as deficit reduction plans. It is really an
attempt to impose a radical vision on our country. It is thinly veiled
social Darwinism. It is antithetical to our entire history as a land of
opportunity and upward mobility for everybody who is willing to work for
it. A place where prosperity doesn’t trickle down from the top but
grows outward from the heart of middle class.” (Click here for the full transcript of President Obama’s speech.)
It didn’t take long for the Republicans to fire back. The AP reports, “House Speaker John Boehner said Obama is resorting to ‘distortions and partisan potshots’ — while standing behind policies that the speaker says ‘have made our country’s debt crisis worse.’
Read More @ USAWatchdog.com
President
Barak Obama gave a speech to newspaper executives about the recently
passed Republican budget in the House of Representatives. It proposes to
cut spending by more than $5 trillion over the next ten years.
Yesterday’s speech was, basically, a declaration of war against the GOP
and its vision of the government’s budget. The President said, “This
Congressional Republican budget is something different altogether. It
is a Trojan horse disguised as deficit reduction plans. It is really an
attempt to impose a radical vision on our country. It is thinly veiled
social Darwinism. It is antithetical to our entire history as a land of
opportunity and upward mobility for everybody who is willing to work for
it. A place where prosperity doesn’t trickle down from the top but
grows outward from the heart of middle class.” (Click here for the full transcript of President Obama’s speech.)It didn’t take long for the Republicans to fire back. The AP reports, “House Speaker John Boehner said Obama is resorting to ‘distortions and partisan potshots’ — while standing behind policies that the speaker says ‘have made our country’s debt crisis worse.’
Read More @ USAWatchdog.com
from Azizonomics:
As a British citizen, I find Britain’s recent authoritarian creep to be deeply unsettling. First we greatly diluted our ancient rights of habaeas corpus. Then we created the world’s largest video surveillance network (which of course was completely powerless to prevent last summer’s riots).
Now we have started locking people up for comments on Twitter.
From Brendan O’Neill:
As a British citizen, I find Britain’s recent authoritarian creep to be deeply unsettling. First we greatly diluted our ancient rights of habaeas corpus. Then we created the world’s largest video surveillance network (which of course was completely powerless to prevent last summer’s riots).
Now we have started locking people up for comments on Twitter.
From Brendan O’Neill:
“If you thought it was only authoritarian states like China or Iran that imprisoned pesky bloggers and tweeters, think again.Read More @ Azizonomics
This week, Britain became a fully paid-up member of that clique of illiberal intolerant, tweeter-harassing states.
On Tuesday, at Swansea Magistrates Court in Wales, Liam Stacey, a student, was imprisoned for 56 days for writing offensive tweets.
Fifty-six days. Two months. In an actual jail. For tweeting…” (continued)
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