"When the war gets to this level--whether or not we believe the Army's assertions that the kids it's killing in Afghanistan deserved it--it's time to rethink whether you are winning hearts and minds, nation rebuilding, or just involved in an endless insane game of blowing shit up and making people so mad they give you what you think is a legitimate excuse to keep blowing shit up." Continue reading →
"The Federal Register for Monday, November 19, 2012, quietly advises that 'TSA also is creating and maintaining a watch list of individuals who are disqualified from eligibility from TSA Pre✓TM…' Millions of frequent flyers have applied to PreCheck in the hope of mitigating the abuse they suffer at the airport. But now, with breathtaking irony, the TSA discloses that anyone it rejects winds up on yet another of the police-state’s watchlists, his agony at the airport even worse than before." Continue reading →
"A former Microsoft executive and Washington state resident is planning to enter the upscale marijuana business, in the hopes that it will help bring some respectability to the industry, reported KiroTV. Jamen Shively plans to name his business after his grandfather, who supplied hemp rope to the Spanish Armada at the time of the Spanish-American War. 'By creating the category of premium marijuana, we want to position it similar to a fine cognac, a fine brandy, a fine cigar,' Shively told KiroTV." Continue reading →
"California’s Humboldt State University announced recently it would form a new institute that combines experts from the fields of economics, psychology, sociology, politics, geography, social work and public policy to help better inform the nation’s ongoing debate on marijuana reform. The school, which is accredited and funded by taxpayer dollars, said it would begin offering lectures on marijuana policies as soon as Tuesday evening. At least 11 faculty members are also onboard, according to the institute’s website." Continue reading →
"Intrade decided all its U.S. customers must now close their accounts and withdraw their money from the site. Why did the American government sue Intrade? It was not for operating an online gambling operation, but for allegedly violating America's incomprehensible financial regulations. The government says that many of the things Intrade allows people to predict - everything from what the price of gold will be in the future to whether the U.S. will go to war soon - are legally considered 'commodity options,' and that Intrade broke the law because it isn't licensed to trade those. The penalty is $140,000 per violation." Continue reading →
"Shortly after the Soviets lunched the Sputnik satellite in 1957, the U.S. government seriously considered a nuclear strike against the Moon in order to intimidate Russia. A missile carrying an atom bomb would have been launched from an undisclosed location and then detonated on impact. Preparations were made for a missile launch in 1959, but the program was quietly scrapped. What is truly strange is that the plan to nuke the moon was supposedly inspired by the need to catch up with the Soviets in the space race. Yet there’s evidence that Washington actually spotted Moscow a lead by allowing the Russians to launch the first satellite." Continue reading →
"With less than five weeks to go in the year, supporters are concentrating most of their efforts on the Senate, where a measure giving states greater latitude to collect sales taxes from online purchases has a powerful backer in Majority Whip Dick Durbin (D-Ill.), says Politico. Both the Senate and House proposals would allow states to collect sales taxes from internet retailers located in other states, an approach that also has been backed by prominent GOP governors, such as Cato favorite Chris Christie." Continue reading →
"It shouldn't be a surprise, at least to our readers who read about it here first, but what will stun the general public are the two charts below, the first of which shows the amount of 90+ day student loan delinquencies, and the second shows the amount of newly delinquent 30+ day student loan balances. The charts speak for themselves." Continue reading →
"Hilarity ensues on HuffPost Live." Continue reading →
"'When you let the politicians run monetary policy, well, that is how it [ends]... All of the ingredients are there [for Japan now] for this vicious cocktail to fall apart' is how Kyle Bass concludes this broad and succinct recent interview. With total credit market debt-to-GDP globally around 350% (or ~$200 trillion), his thesis remains that many countries will reach their profligate endpoint soon (if not already in Greece's case - where investors have already lost 90c on the dollar); but that managing around this current evolution is the single-hardest period for investing of the last few decades." Continue reading →