CHEYENNE, Wyo. (Jan. 7, 2016) – Two bills filed in the Wyoming House would significantly ease the state’s marijuana laws, taking a big step toward nullifying federal cannabis prohibition in practice in the state. Rep. James Byrd (D-Laramie) prefiled House Bill 3 (HB0003) on Dec. 17. The legislation would decriminalize possession of small amounts of…
CONCORD, N.H. (Jan. 7, 2015) – A proposed amendment to the New Hampshire state constitution would effectively ban any state funding of Planned Parenthood, or any organization involved in abortion. This would take a small step toward effectively nullifying Roe v. Wade in the Live Free of Die State. A coalition of 17 legislators prefiled…
"The big winners, to the tune of $1.6 trillion by the end of 2012, were the governments of the US, the UK and eurozone, from the reduced costs of servicing their debts and from the increased profits made by the their respective central banks (who magically create money to buy government debts which pay them interest). McKinsey believes that households have been significant losers from cheap money. How much have they lost? Well McKinsey says that from 2007 to 2012, the cumulative net loss of interest income for American households was $360bn, compared with a cumulative net loss of $160bn for eurozone citizens and $110bn (£70bn) for British people." Continue reading →
"The Federal Reserve’s failure to recognize its role in driving the third dangerous asset bubble in 15 years will destroy the central bank’s reputation for good, said Albert Edwards, global strategist at Societe Generale. Edwards said it’s too late to avoid another massive collapse in asset prices. 'This time the Fed’s largesse has fueled another corporate debt explosion,' he said. 'The real rate of corporate borrowing is even greater than was seen during the late 1990s tech bubble. This is 100 percent attributable to the Fed’s excessively loose monetary policy.'" Continue reading →
"Well, we are right back at it: trying to stimulate growth through easy money. It hasn’t worked, but it’s the only tool the Fed’s got. Meanwhile, the Fed’s policies widen the wealth gap, which feeds political extremism, forcing gridlock in Washington. It seems the world is headed toward negative real interest rates on a global scale. This is toxic. Interest rates are used to price risk, and so in the current environment, the risk-pricing mechanism is broken. That is not healthy for an economy. We are building up terrific stresses in the system, and any fault lines there will certainly harm the outlook." Continue reading →
"China's stocks were suspended from all trade on Thursday after theCSI300 tumbled more than 7 percent in early trade, triggering the market's circuit breaker for a second time this week. That drop-kicked stock markets across Asia, which were already wallowing after a weaker open amid concerns over China's swooning currency and economic slowdown as well as falling oil prices. China's securities regulator also issued new rules to restrict the percentage of shares major shareholders in listed companies can sell every three months, in an attempt to stabilize markets. Shareholders are not allowed to sell more than 1 percent of a company's share in that period." Continue reading →
RICHMOND, Va. (Jan. 6, 2016) – A bill filed in the Virginia Senate for the 2016 legislative session would reform the state’s asset forfeiture laws, making it more difficult for police to seize property. But a loophole in the legislation would allow law enforcement to work with the feds to skirt the more stringent state law. Sen.…
CONCORD, N.H. (Jan. 6, 2015) – Three bills introduced in the New Hampshire legislature would legalize marijuana for recreational use. Passage of any would not only legalize marijuana in the Live Free or Die State, but would also take a big step toward nullifying federal cannabis prohibition in practice in the state. The three proposed bills…
ALBANY, N.Y., (Jan. 6, 2015) – A bill proposed in the New York legislature would allow certain students to opt out of Common Core Standards and testing, a small step toward nullifying nationalized education in the state. The law would provide additional backing to some of the hundreds of thousands of New York parents who have already…
Patients facing life-threatening illnesses now have more treatment options open to them in Illinois and Oregon thanks to new laws tearing down federal roadblocks that went into effect on New Year’s Day. These new “Right to Try” laws effectively nullify in practice some Food and Drug Administration (FDA) rules that stop terminally ill patients from…