Bullshit Artists

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

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!”

This Graph Shows How Bad the Fed is at Predicting the Future

"Ben Bernanke and the Fed are out with their latest happy talk economic projections. They project the economy will grow by 2.3 to 2.6 percent, in real terms, in the fourth quarter of 2013 relative to the fourth quarter of 2012. That speeds up to 3.0 to 3.5 percent in 2014 and 2.9 to 3.6 percent in 2015. Unemployment also is projected to fall, hitting 5.8 to 6.2 percent in 2015, all while inflation stays below 2 percent. The chart put together by WaPo shows how abysmal the Fed's actual forecasts have been (and this is not counting the Fed missing the housing crash or the overall financial crisis)." Continue reading →

Continue ReadingThis Graph Shows How Bad the Fed is at Predicting the Future

Ron Paul: NSA head ‘fudged the figures’

"The Texas Republican was referencing the House Intelligence Committee hearing Tuesday where National Security Agency Director Keith Alexander said communication surveillance programs have thwarted more than 50 'potential terrorist events'. Paul also wasn’t amused by the NSA trying to pass the intrusions off as an attempt to save Americans and the American way of life. 'It’s sort of like the old story about you have to burn the village to save the village. They want to burn the Constitution to save the Constitution,' he said. 'And even today, [James] Cole, the Deputy Attorney General says, the Fourth Amendment doesn’t apply to this.'" Continue reading →

Continue ReadingRon Paul: NSA head ‘fudged the figures’

They Think You’re Naïve…

"When it comes to the financial markets, Bernanke is, without a question, the most powerful man in the world. On May 22, he suggested that the Fed may soon reduce the size of its money-printing program, known as QE. Since then, the market has experienced a small meltdown. More than $2.5 trillion has already been erased from the value of global equities. Some analysts think the Fed announcing the end of QE would be a good thing. They think it would indicate the Fed is confident the economy is strong enough to operate without stimulus. The only problem is the Fed is thinking about ending QE for a reason that has nothing to do with healthy economic growth." Continue reading →

Continue ReadingThey Think You’re Naïve…

Obama Says Bernanke Has Been at Fed ‘Longer Than He Wanted’

"President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post 'longer than he wanted,' one of the clearest signals the central bank chief will leave when his current term expires next year. 'Ben Bernanke’s done an outstanding job,' Obama said in an interview with Charlie Rose that aired yesterday on PBS, when asked about nominating him for another term subject to Senate approval. 'He’s already stayed a lot longer than he wanted or he was supposed to.'" Continue reading →

Continue ReadingObama Says Bernanke Has Been at Fed ‘Longer Than He Wanted’

Obama on prosecuting Edward Snowden: I will leave it up to the Department of Justice

"Barack Obama addressed what he described as the public 'ruckus' over the leaked National Security Agency surveillance documents on Monday, indicating that the US authorities would pursue extradition from Hong Kong of the whistleblower Edward Snowden. Obama did not offer any more details about the process in his PBS interview. Instead, he addressed criticism that he has shifted a long way from the liberal positions he championed during his 2008 White House race. Obama said: 'My concern has always been not that we shouldn’t do intelligence gathering to prevent terrorism, but rather are we setting up a system of checks and balances.'" Continue reading →

Continue ReadingObama on prosecuting Edward Snowden: I will leave it up to the Department of Justice

Smell of marijuana: Who needs a search warrant when police use their nose?

"The ability to conduct warrantless searches based on the smell of marijuana has faced some challenges. In Florida, recent cases in Sarasota and Pinellas County have cast doubt on some officers' claims they were able to smell the marijuana cited in their probable cause affidavits and search warrant applications. And in Massachusetts, where voters decriminalized small amounts of marijuana in 2008, a state court struck down the ability to smell and search in 2011. Defense attorneys argue that youths and minorities are targeted disproportionately and say that because the search relies solely on an officer's word, it's prone to misconduct." Continue reading →

Continue ReadingSmell of marijuana: Who needs a search warrant when police use their nose?

US Treasury denies it is trying to torpedo Bitcoin

"Bitcoin itself is nearly impossible to regulate. And the government at least seems to understand this point. But that doesn’t mean they can’t spread fear, uncertainty, and doubt. In this short 4-page speech, the Director twice made a connection between Bitcoin and (you guessed it) terrorism. Twice more connected Bitcoin to those who would exploit children. And four times linked digital currency to ‘criminals’ in general. And, even though they cannot control Bitcoin, FinCEN is obviously laying the foundation to regulate every business that touches Bitcoin, from exchange houses to swap websites to digital wallet providers." Continue reading →

Continue ReadingUS Treasury denies it is trying to torpedo Bitcoin

Our Open Surveillance ‘Debate’: DOJ Wants to Block Release of Secret Court Opinion

"Because of the efforts of President Barack Obama's Administration to quash any release of even a smidgen of information about the government’s surveillance program, his comment today that he looked forward to a 'debate' on the issue was met with skepticism. Then, hours later, the Department of Justice responded to a lawsuit by the Electronic Frontier Foundation trying to stop the release of a secret court opinion connected to the very surveillance program about which Obama claimed to want to debate." Continue reading →

Continue ReadingOur Open Surveillance ‘Debate’: DOJ Wants to Block Release of Secret Court Opinion