Monthly Archives: July 2013

Zimmerman protesters raid LA store, stop freeway

"More than 300 officers were called to the scene and were at first slow to directly engage protesters in an attempt to allow a peaceful end to the demonstration. A smaller group of between 100 and 150 people splintered off and began blocking traffic on nearby Crenshaw Boulevard, some of them jumping on cars and breaking windows at liquor stores and fast food outlets. Several protesters ran into a Wal-Mart store, where they knocked down displays before store security chased them out, and police began guarding the door. TV news helicopters showed some people kicking and punching others along the street, including two people sitting on a bus bench." Continue reading →

Continue ReadingZimmerman protesters raid LA store, stop freeway

Zimmerman protesters raid LA store, stop freeway

"More than 300 officers were called to the scene and were at first slow to directly engage protesters in an attempt to allow a peaceful end to the demonstration. A smaller group of between 100 and 150 people splintered off and began blocking traffic on nearby Crenshaw Boulevard, some of them jumping on cars and breaking windows at liquor stores and fast food outlets. Several protesters ran into a Wal-Mart store, where they knocked down displays before store security chased them out, and police began guarding the door. TV news helicopters showed some people kicking and punching others along the street, including two people sitting on a bus bench." Continue reading →

Continue ReadingZimmerman protesters raid LA store, stop freeway

Glenn Greenwald: The crux of the NSA story in one phrase: ‘collect it all’

"The Washington Post this morning has a long profile of Gen. Keith Alexander, director the NSA, and it highlights the crux of the NSA stories, the reason Edward Snowden sacrificed his liberty to come forward, and the obvious focal point for any responsible or half-way serious journalists covering this story. It helpfully includes that crux right in the headline, in a single phrase. What does 'collect it all' mean? Exactly what it says; the Post explains how Alexander took a 'collect it all' surveillance approach originally directed at Iraqis in the middle of a war, and thereafter transferred it so that it is now directed at the US domestic population as well as the global one." Continue reading →

Continue ReadingGlenn Greenwald: The crux of the NSA story in one phrase: ‘collect it all’

Glenn Greenwald: The crux of the NSA story in one phrase: ‘collect it all’

"The Washington Post this morning has a long profile of Gen. Keith Alexander, director the NSA, and it highlights the crux of the NSA stories, the reason Edward Snowden sacrificed his liberty to come forward, and the obvious focal point for any responsible or half-way serious journalists covering this story. It helpfully includes that crux right in the headline, in a single phrase. What does 'collect it all' mean? Exactly what it says; the Post explains how Alexander took a 'collect it all' surveillance approach originally directed at Iraqis in the middle of a war, and thereafter transferred it so that it is now directed at the US domestic population as well as the global one." Continue reading →

Continue ReadingGlenn Greenwald: The crux of the NSA story in one phrase: ‘collect it all’

Subsidized Food Programs: 100 Million Americans

"You may have heard that 47 million Americans are on food stamps, or as they call it these days, SNAP: Supplemental Nutrition Assistance Program. What about subsidized lunches for children? Add 32 million. What about school breakfast programs? What about WIC — Women, Infants, and Children? Don’t forget snacks at day care centers. Then there is the Special Milk Program for schools and a Summer Food Service Program. When schools close, the subsidies still flow. But the small farmer, in whose name the farm subsidy programs exist, disappeared after World War II. Only 2% of Americans live on farms. Then who wins? Agribusiness." Continue reading →

Continue ReadingSubsidized Food Programs: 100 Million Americans

Subsidized Food Programs: 100 Million Americans

"You may have heard that 47 million Americans are on food stamps, or as they call it these days, SNAP: Supplemental Nutrition Assistance Program. What about subsidized lunches for children? Add 32 million. What about school breakfast programs? What about WIC — Women, Infants, and Children? Don’t forget snacks at day care centers. Then there is the Special Milk Program for schools and a Summer Food Service Program. When schools close, the subsidies still flow. But the small farmer, in whose name the farm subsidy programs exist, disappeared after World War II. Only 2% of Americans live on farms. Then who wins? Agribusiness." Continue reading →

Continue ReadingSubsidized Food Programs: 100 Million Americans

Senior Italian parliament economist on Ludwig von Mises and the current economic crisis

"The vision Mises had about inflation as an illusion imposed is not so far from the Ricardian idea that government bonds are not net wealth, since future generations will have to bear their burden. Inflation and public debt, then, are two sides of the same coin, because they create substantial intergenerational redistributive effects that policy makers cannot evaluate ex-ante. We are realising today how accurate Mises was in his predictions. Mises had these issues clear in his mind and implicitly warned central bankers of the risk of losing money to its real meaning and of exposing the economy to the risk of currency devaluation." Continue reading →

Continue ReadingSenior Italian parliament economist on Ludwig von Mises and the current economic crisis

Crushing the Middle Class

"The policies of central banks, combined with those of overbearing government, are crushing the middle class and with them the single most important bastion of democracy. Students of history recognize this trend as dangerous. People who believe that society offers no hope of improvement are often willing to enlist in open class warfare and subscribe to the views of dangerous demagogues. Perhaps this is the direction that Washington, Brussels, and Tokyo want to go? We should take great efforts in spreading the word that freedom is good for everyone, not just the rich." Continue reading →

Continue ReadingCrushing the Middle Class

Uncle Sam’s Growing Student Loan Portfolio

"The federal government used to subsidize student borrowing not only by providing loans directly to students, but also by guaranteeing many private loans. In 2009, however, Congress eliminated private guarantees and dramatically expanded direct federal lending. The government’s portfolio of student loans has since increased from about $90 billion at the start of fiscal 2008 to more than $560 billion today. As a result, the government’s financial investments now total about $1.1 trillion, essentially all of which was financed by borrowing. The debt supporting Uncle Sam’s investment portfolio thus accounts for almost 10 percent of the $11.9 trillion in public debt." Continue reading →

Continue ReadingUncle Sam’s Growing Student Loan Portfolio

Student Loan Debt Will Exceed Median Annual Income For College Grads By 2023

"In 10 years, the average amount of debt college students leave school with will equal what the median graduate will earn in just a year, an analysis exclusive to The Huffington Post revealed. This conclusion was drawn from a study conducted by the policy and communications consulting firm Hamilton Place Strategies. The study found that while average student debt at graduation has skyrocketed by 200 percent since 1993, income growth has stagnated. In 2012, the median income for all college graduates was $46,412 while average student loan debt was $28,720, the study found." Continue reading →

Continue ReadingStudent Loan Debt Will Exceed Median Annual Income For College Grads By 2023