The House is Key to Killing Anti-gun Amnesty
The House is where we need to make our stand. Tell Boehner to protect our rights and kill the bill.
Don’t Get Fooled Again — It’s Time to Dump Bonds Now
"The bond-market bust was a long time coming, if you’ve read my columns this year and last. But some investors — even big-time mutual fund managers — got caught flat-footed. Why? Just like real estate in the 2000s and tech stocks in the late 1990s, those bull markets were artificially extended for years, and those who got out early lost out on some of the biggest gains. But make no mistake. The real problem is what I’ve been harping on for several months: The bond market is a gigantic bubble, having been wildly inflated by too much cheap, easy money from the world’s central banks." Continue reading →
Bitcoin’s Big Bank Problem: Why Did Mt. Gox Halt US Payouts?
"The world’s best-known Bitcoin exchange stopped paying out customers in U.S. dollars Thursday. Mt. Gox didn’t exactly explain what was going on, though. It blamed an 'increased volume' of transactions, and said it would suspend U.S. cash withdrawals for two weeks as it sorted things out. The issue 'is with processing the sheer volume through our banks in Japan, which is causing a delay,' said Mt. Gox’s Thomas Glucksmann-Smith in an email message. 'We are currently attempting to improve our services for this. In the meantime USD deposits are unaffected as are other currencies.'" Continue reading →
NYPD ‘Hunting Of Man’ T-Shirts Seen On On-Duty Officers In Queens
"On-duty members of the NYPD's Queens Warrant Squad were spotted outside a city courthouse last week wearing T-shirts imprinted with a Ernest Hemingway quote, that in the context of the officers' work, could be considered very disturbing: 'There is no hunting like the hunting of man, and those who have hunted armed men long enough and liked it, never care for anything else thereafter.' Tipsters, who passed along the photo below, told Gothamist and SocialistWorker.orgthat the cops had badges around their necks, and that words on the front of their T-shirts read, 'Fugitive Enforcement NYPD.'" Continue reading →
Throwing children in prison turns out to be a really bad idea
"The United States still puts more children and teenagers in juvenile detention than any other developed nations in the world, with about 70,000 detained on any given day in 2010. And as it turns out, this is very likely a bad idea. A new paper by economists Anna Aizer and Joseph J. Doyle, Jr. offers strong evidence that juvenile detention is a really counterproductive strategy for many youths under the age of 19. Not only does throwing a kid in detention often reduce the chance that he or she will graduate high school, but it also raises the chance that the youth will commit more crimes later on in life." Continue reading →
Brazilian authorities face fresh protests against government corruption despite concessions
"Authorities in Sao Paulo and Rio, Brazil’s two biggest cities, canceled the transit fare hikes that had been the initial spark for two weeks of nationwide protests. But there is no sign that the movement, which has no political coloration and no clearly identified leadership, is about to lose steam. Initially ignited by the fare increases, the protest fed on widespread resentment at the billions of dollars the government is spending on the Confederations Cup, the World Cup and the 2016 Summer Olympics. The demonstrators instead want higher funding for education and health and a cut in salaries of public officials, railing against rampant corruption within the political class." Continue reading →
This Graph Shows How Bad the Fed is at Predicting the Future
"Ben Bernanke and the Fed are out with their latest happy talk economic projections. They project the economy will grow by 2.3 to 2.6 percent, in real terms, in the fourth quarter of 2013 relative to the fourth quarter of 2012. That speeds up to 3.0 to 3.5 percent in 2014 and 2.9 to 3.6 percent in 2015. Unemployment also is projected to fall, hitting 5.8 to 6.2 percent in 2015, all while inflation stays below 2 percent. The chart put together by WaPo shows how abysmal the Fed's actual forecasts have been (and this is not counting the Fed missing the housing crash or the overall financial crisis)." Continue reading →
Belgium opens beer temple in former stock market building
"Beer has always been one of Belgium’s biggest money-spinners but now Brussels is going a step further, announcing plans Thursday to open a temple to the amber nectar in its old stock exchange building. The 'Temple of Belgian Beer' project finds a use for the grand 19th century building near the Belgian capital’s famed Grand Place, which is fronted by corinthian columns and resembles a classical temple. The Brussels Bourse was abandoned by stockbrokers in 1996 after the computerisation of the financial markets and then became a site for temporary exhibitions." Continue reading →
Conference Board Fears Front Running Ahead of Its Economic Data; 250 Millisecond Edge
"The Conference Board will no longer provide its economic reports in advance to news organizations because it suspects the data is being diverted early to computer-driven trading systems, reports AP. The private research group has provided its monthly data to reporters 30 minutes before the information is publicly released. The early access to the data has allowed journalists to prepare news reports ahead of the information's public release at 10 a.m. Eastern time. Starting Tuesday, the Conference Board's data will be released to everyone simultaneously." Continue reading →
CME Hikes Gold Margins By 25%
"How very unexpected. And how, judging by today's massive selloff, it is almost as if someone knew in advance this would happen. Can JPMorgan just restock its vault with whatever gold it needs to meet its massive delivery demands (at three year low prices) so some normalcy can return to the market?" Continue reading →
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