Yearly Archives: 2013

George W. Bush the costliest former US President at $1.3 million per year

"George W. Bush is costing taxpayers $1.3 million a year, the most of any ex-President, according to a report by the nonpartisan Congressional Research Service. Meanwhile, taxpayers are forking over nearly $3.7 million total to pay for the four remaining presidents: Jimmy Carter, George H.W. Bush, George W. and Bill Clinton. That figure includes their $200,000 annual pension, compensation and benefits for a small staff, and funds for travel, office space, and postage. But it doesn't include the additional money spent on Secret Service protection, which is not made public, CNN wrote." Continue reading →

Continue ReadingGeorge W. Bush the costliest former US President at $1.3 million per year

California’s Golden Bureaucrat Snags $400K of Yearly Compensation – for the Rest of Her Life!

"Alameda County supervisors have really taken to heart the adage that government should run like a business — rewarding County Administrator Susan Muranishi with the Wall Street-like wage of $423,664 a year. For the rest of her life. …Muranishi’s annual pension will be equal to the dollar total of her entire yearly package — $413,000. She also has a separate executive private pension plan, for which the county chips in $46,500 a year." Continue reading →

Continue ReadingCalifornia’s Golden Bureaucrat Snags $400K of Yearly Compensation – for the Rest of Her Life!

Another California scheme to fleece motorists and eviscerate their rights

"AB666 would require that these tickets be prosecuted through an administrative hearing conducted by the jurisdiction running the camera program rather than through an independent traffic court. ...AB666 makes the vehicle owner responsible for violations committed by someone else unless you can prove who was driving the vehicle...And if you don't, they will put a hold on your registration until you pay up. Not bad enough? The hold on your registration gets applied as soon as they mail you the ticket, not after you are found guilty. It gets worse. The tickets are considered Prima Facie evidence against you. No other evidence has to be submitted against you." Continue reading →

Continue ReadingAnother California scheme to fleece motorists and eviscerate their rights

Maryland Senate Votes To Cover Up Speed Camera Errors

"Earlier this year, a number of lawmakers in Maryland vowed to reform the way speed cameras were operated in the state. Officials were rocked by the revelation that more than 5 percent of photo ticket recipients in Baltimore were likely innocent with lax oversight and faulty photo radar equipment to blame for the bogus citations. On Monday, the state Senate voted 46-1 to cover up future errors." Continue reading →

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Post-Cyprus Blues: Confusion and an Erosion of Faith

"It may be misleading to project the crisis and resolution in Cyprus onto other quite different financial crises in other quite different economies. The common ground may be a rising fear of capital controls and the search for safe havens that won't implode or change the rules overnight. The sudden emergence of risk in what was perceived to be a safe haven will likely spark interest in non-banking safe havens, for example, precious metals, and what correspondent Mark G. calls the Glass Jar Bank, which he observes is still a popular alternative in Eastern Europe to entrusting one's cash to banks." Continue reading →

Continue ReadingPost-Cyprus Blues: Confusion and an Erosion of Faith

Student Loan Debt Growing, Along With Delinquency Rate

"Total student debt was the only type of household debt that continued to rise throughout the recent recession while most households were de-leveraging, and is now second only to mortgage debt. You’ve probably heard the 'trillion dollar' number in the news. I think the most worrying stat is the increasing rate of defaults. Actual delinquency rates are often understated because almost half of these loans are currently in deferment or in grace periods and therefore are not in the repayment cycle. Among loans that are actually subject to repayment, delinquency rates are over 30% overall and rising." Continue reading →

Continue ReadingStudent Loan Debt Growing, Along With Delinquency Rate

War Without End

"There has been much in the news over the past two weeks commemorating the 10th anniversary of the beginning of the pre-emptive Iraq War. The above YouTube video commemorates the ending of an even greater conflict, World War I, which began in 1914 and ended in 1918. This is one of the most powerful and heart-wrenching documentaries you will ever watch, especially the never-to-be-forgotten recitation of the Siegfried Sassoon poem, Aftermath, by actor Jeremy Irons at the end of the program (which garnered an Emmy Award)." Continue reading →

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Caterpillar Punked By Chinese Fraud, To Write Off Half Of Q4 Earnings

"Fraudulent Chinese corporations are nothing new - we have been warning about them since late 2010. One company, however, which apparently was completely unaware of the now pervasive and proven for the past two years Chinese corporate fraud, is US industrial titan Caterpillar. This was made clear when, after hours on Friday night naturally, the company revealed that it had been misled by 'deliberate, multi-year, coordinated accounting misconduct' at a subsidiary of a Chinese company it acquired last summer, leading it to write off most of the value of the deal." Continue reading →

Continue ReadingCaterpillar Punked By Chinese Fraud, To Write Off Half Of Q4 Earnings

Actuarial study: Obamacare law to bring double-digit percent increases to insurance premiums

"Medical claims costs — the biggest driver of health insurance premiums — will jump an average 32% for Americans' individual policies under the Affordable Care Act health care law, according to a study out Tuesday by the nation's leading group of financial risk analysts. While some states will see medical claims costs per person decline, the report prepared by the Society of Actuaries concluded that the overwhelming majority will see double-digit increases in their individual health insurance markets, where people purchase coverage directly from insurers. Much of the reason for the higher claims costs is that sicker people are expected to join the pool, the report said." Continue reading →

Continue ReadingActuarial study: Obamacare law to bring double-digit percent increases to insurance premiums