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Supreme Court: Rights groups cannot prove harm from warrantless wiretapping

“The U.S. Supreme Court ruled Tuesday that human rights groups do not have standing to sue the government over its warrantless wiretapping program because they have no proof that the wiretapping has harmed them. The vote was split 5-4 along partisan lines, with the conservative majority supporting the Obama administration’s argument that the FISA Amendments Act was above reproach in this case because the harms were ‘speculative,’ and not ‘actual.’ Roving, warrantless wiretaps were authorized by President George W. Bush after the attacks of Sept. 11, 2001, turning the National Security Agency into the nation’s spy machine.” Continue reading →

Supreme Court: Rights groups cannot prove harm from warrantless wiretapping

Gentlemen, Start Your Presses

“Many have dubbed the last decade or so to be an era of easy money. As it turns out, that characterization may have been premature. Based on the new crop of central bankers who are primed to take control of the world’s financial system, the age of truly easy money may be just getting started. Many expect that when Bernanke’s term expires in January 2014, he will be succeeded by the dovish Yellen. But that’s just the beginning. In short order, a host of serial money printers will take up the reins at the world’s most important central banks.” Continue reading →

Bank of Japan governor nominee Kuroda sets out aggressive policy ideas

“The Japan government’s nominee to be the next central bank governor outlined more forceful policy prescriptions on Monday to finally defeat deflation, saying he would not set any limits on the amount of cash the Bank of Japan pumps into the economy. Haruhiko Kuroda told lawmakers the BOJ’s current policies were not powerful enough to boost inflation to 2 percent, a target he said the central bank should strive to achieve in two years. Kuroda suggested the most natural central bank stimulus for the economy would be through huge purchases of longer-dated government bonds. The BOJ should also consider kicking off its open-ended asset purchases early.” Continue reading →

Boycott Bitcoin!

“Well, Fellow Reckoner, it’s been something of a sad week for proponents of Bitcoin… Would-be buyers of the fringy cyber experiment have had to watch as the price of their beloved currency shot to within (as of this writing) a few cents shy of $35 per coin. No buyer wants to see that kind of action…unless they are also an ‘already boughter.'” Continue reading →

Fannie Mae and Freddie Mac to begin merging operations

“The regulator of mortgage finance giants Fannie Mae and Freddie Mac detailed plans Monday to begin contracting their business while merging their securitization operations. Federal Housing Finance Agency acting director Edward DeMarco said the two, rescued by the government in 2008 in a $180 billion bailout after the housing market collapse, needed to begin reducing their dominance of the market as private financing makes a comeback. One effort planned for this year is to raise the fees they charge to mortgage lenders for guaranteeing their loans, reducing the market’s near-complete dependence on the two.” Continue reading →

Thomas Sowell Exposes Dishonest Budgetary Scare Tactics, Cartoonists Mock Obama’s Hysteria

“Back in my teaching days, many years ago, one of the things I liked to ask the class to consider was this: Imagine a government agency with only two tasks: (1) building statues of Benedict Arnold and (2) providing life-saving medications to children. If this agency’s budget were cut, what would it do? The answer, of course, is that it would cut back on the medications for children. Why? Because that would be what was most likely to get the budget cuts restored.” Continue reading →

United Nations report: ‘Designer drug’ use, abuse and production surging

“Designer drugs are multiplying at a worrying rate and increasingly sending users to hospital, a UN-affiliated report said Tuesday, calling for international efforts to stem the spread of these substances. Aggravating the problem further was the fact that these drugs were not subject to international control regimes and were readily available on the Internet, requiring states and international institutions to find new ways to identify the drugs and stop their distribution. Another problem was the rise in prescription drug abuse, including painkillers, sedatives and others used to treat epilepsy, attention-deficit hyperactivity disorder and mental illnesses.” Continue reading →