Network Archives

Marco Rubio’s Immigration Scam: “You Dumb Gringos”

"All the bill requires is that Homeland Security submit a 'strategy' for securing the border, then certify that steps to implement this are 'commencing.' The bill sets up a fund, amounting to $50 million (with more money to be added as needed), to represent illegals in every phase of the process – seeking provisional immigration status, filing appeals, blocking efforts at deportation, obtaining naturalization, and so on. And who might be the people funded by this $50 million? They will be – surprise – non-profit 'immigrant-serving' organizations 'whose staff has demonstrated qualifications, experience and expertise in providing quality services to immigrants.'" Continue reading →

Continue ReadingMarco Rubio’s Immigration Scam: “You Dumb Gringos”

Lockdown USA: Congress plans 700-mile ‘surge’ on Mexico border

"If Congressional Republicans get their way, the 2,000-mile (3,200-km) border separating the US and Mexico will be equipped observation towers, surveillance drones and one guard every 1,000 feet (300 meters). The legislation would see the Obama administration create a path to citizenship for some 11 million undocumented immigrants. The security plan would station another 20,000 Border Patrol agents along the southern border, in addition to the 18,500 already there. The bill would also expand fencing and install a visa entry and exit system at seaports and international airports, among other costly features." Continue reading →

Continue ReadingLockdown USA: Congress plans 700-mile ‘surge’ on Mexico border

Lawyers to challenge U.S. ‘No Fly’ list in federal court in Oregon

"Lawyers for a group of Muslim Americans barred from U.S. air travel will challenge procedures surrounding the secretive 'no fly' list in court on Friday, arguing they are unconstitutional because those on the list have no real way to clear their names. The 13 plaintiffs in the case, who deny any links to terrorism, said they learned of their no-fly status when they were blocked from boarding commercial flights and complain they were denied any effective means of petitioning the government to be removed from the list. As of last year, the list included some 20,000 people." Continue reading →

Continue ReadingLawyers to challenge U.S. ‘No Fly’ list in federal court in Oregon

U.S. Leaving $7 Billion of Military Equipment Behind in Afghanistan

"Not only has the U.S. created a disaster with the unconstitutional invasion of Afghanistan, but now that they've been forced to retreat, they're leaving behind some stuff...$7 BILLION worth! The Washington Post reports: 'Military planners have determined that they will not ship back more than $7 billion worth of equipment — about 20 percent of what the U.S. military has in Afghanistan — because it is no longer needed or would be too costly to ship back home.' What's $7 billion when you can always just turn on the taxpayer spigot? And doesn't Bernanke create $7 billion just in his sleep? What's the big deal?" Continue reading →

Continue ReadingU.S. Leaving $7 Billion of Military Equipment Behind in Afghanistan

The Never-Ending Story of Government Cost Overruns

"Why does virtually everything the government does cost more than we’re initially told? In 2009, for instance, I warned that Obamacare would be much more costly than advertised, so I certainly wasn’t surprised several years later when the numbers began to climb. Heck, I narrated an entire video warning that this would happen. There are probably an infinite number of reasons why government programs wind up being needlessly expensive, but I think most of them fall into these four broad categories." Continue reading →

Continue ReadingThe Never-Ending Story of Government Cost Overruns

Tens of thousands of government workers hired to roll out Obamacare

"State offices that will run insurance exchanges are hiring tens of thousands, either on staff or through outsourcing firms. Federal agencies that are key to implementing the law, such as the Internal Revenue Service, plan to hire thousands more, and private non-profit groups backed by the White House are dispatching thousands of newly hired staffers and volunteers into the field. HHS spent $394 million through last March on contracts to set up state insurance exchanges it will run, according to a GAO report this week. Experts say at least 2.7 million younger, healthier people need to sign up to make the exchanges work financially." Continue reading →

Continue ReadingTens of thousands of government workers hired to roll out Obamacare

Bond Market Sell-Off Causes Stress in $2 Trillion ETF industry

"A wave of selling caused many exchange traded funds to tumble below the value of their underlying assets as a bond market sell-off caused stress in the $2 trillion ETF industry. Emerging-markets ETFs were among the worst affected, as investors took fright that the end of Federal Reserve monetary easing would lead to outflows from developing countries. The selling also caused disruptions in the plumbing behind several ETFs. Citigroup stopped accepting orders to redeem underlying assets from ETF issuers, after one trading desk reached its allocated risk limits. State Street said it would stop accepting cash redemption orders for municipal bond products from dealers." Continue reading →

Continue ReadingBond Market Sell-Off Causes Stress in $2 Trillion ETF industry

Investors Say: “Mises Was Right!”

"Bernanke made a comment about the possibility of changing this policy later in 2013, but only if the economy continues to grow. The financial media headlined this statement. Stock markets immediately tanked. Why? Because investors believe that the world’s economic recovery is dependent on the $1 trillion counterfeiting operation, no matter what the general economic statistical indicators say. They do not trust the FOMC’s judgment in assessing these indicators. They do not trust anything except counterfeit money. In short, they are becoming implicit Austrian School economists. They see that mass monetary inflation has rigged the capital markets." Continue reading →

Continue ReadingInvestors Say: “Mises Was Right!”

Bill Bonner: All Hell Breaks Loose!

"The Dow fell -353 points. Gold lost $87 an ounce. What does this tell us? It shouts a warning: Ben Bernanke is losing control. He desperately wants inflation. He's getting deflation instead. He wants low interest rates; yet rates are rising. Bernanke is now getting the worst kind of deflation – sluggish price increases against a backdrop of rising interest rates. This is the exact opposite of what the Fed wants... and needs. Its strategy is to hold interest rates down while it pushes up consumer and asset prices. Instead, the debt gets heavier as yields rise. Backs ache. Legs buckle. Nerves crack." Continue reading →

Continue ReadingBill Bonner: All Hell Breaks Loose!

Welcome to the Real World

"Bond holders were rudely awakened, but other sources of yields took major hits as well, such as REITs and utilities, which have been down over 10% in the last two months. Higher rates are doing those investors a favor – this is officially fair warning of things to come. I'd rather take a 10% loss on bonds or a utility stock now than take an even bigger loss when the Fed pulls rates higher. If you haven't already gravitated to shorter-term maturity bonds, it's time to seriously consider it. The party isn't quite over yet for long-maturity bonds, but the bartender is making the last call. It's time to get out of the bar before you get kicked out." Continue reading →

Continue ReadingWelcome to the Real World