Bullshit Artists

Francois Hollande lurches Right in historic U-Turn to save French economy

"French president François Hollande has bowed to massive pressure for business tax cuts to pull France’s economy out of slump and stave off industrial decline, ditching a core element of his socialist platform. Company taxes will fall by €20bn a year equal to 1pc of GDP, to be phased in gradually by 2015 under a convoluted system of rebates. Spending cuts will plug the revenue gap in order to meet the EU’s 3pc deficit target. Critics call it the most humiliating U-turn in French politics since François Mitterrand abandoned his disastrous experiment of 'Socialism in one country' under a D-Mark currency peg in 1983." Continue reading →

Continue ReadingFrancois Hollande lurches Right in historic U-Turn to save French economy

Obama urged to fulfill Guantanamo closure pledge

"Rights groups challenged President Barack Obama on Thursday to use his second term to close Guantanamo and end drone attacks, warrantless surveillance and extrajudicial killings. Shortly after he took office in January 2009, Obama declared that he would shutter the prison camp for 'war on terror' suspects within a year, saying it served as a recruiting tool for militant and hurt US national security. Rights groups have strongly criticized the president for his Guantanamo failures and for maintaining other stringent security tactics put into practice under his predecessor George W. Bush." Continue reading →

Continue ReadingObama urged to fulfill Guantanamo closure pledge

Obama granted clemency to just 22, less than any modern president

"Obama has parceled out forgiveness far more rarely than his recent predecessors, pardoning just 22 individuals while denying 1,019. He has given pardons to roughly 1 of every 50 individuals whose applications were processed by the Justice Department. At this point in his presidency, Ronald Reagan had pardoned 1 of every 3 such applicants. George H.W. Bush had pardoned 1 in 16. Bill Clinton had pardoned 1 in 8. George W. Bush had pardoned 1 in 33. Obama also has been stingy with commutations, applications for early release by those still serving federal prison sentences." Continue reading →

Continue ReadingObama granted clemency to just 22, less than any modern president

House Intelligence Chair: Strike On Iran’s Nuclear Facilities Would Not Be An Act Of War

"Well, in very targeted strikes, we use very targeted strikes against al Qaeda. And so if it is a very targeted strike, many would argue that that’s short of war. And if it only seeks to go after their nuclear program, that is — we’re not talking about invasions or naval engagements or troops on the ground, none of that. And this has been used by other — President Clinton used this tactic. [..] And we do know, those — that the Iranians believe that there is a whole panoply of options — war and then these targeted strikes they don’t see as — wouldn’t see as an act of war." Continue reading →

Continue ReadingHouse Intelligence Chair: Strike On Iran’s Nuclear Facilities Would Not Be An Act Of War

U.S. ‘coordinates weapon deliveries’ to Syria rebels: Russia

"'Washington is aware of the deliveries of various weapons to illegal armed groups active in Syria. Moreover, judging by the declarations of US officials published in US media, the US coordinates and provides logistical assistance in such deliveries,' the foreign ministry said in a statement. Russia’s top general Nikolai Makarov on Wednesday said rebels fighting against Bashar al-Assad’s army in Syria are using US-made Stingers, a type of shoulder-launched missile systems also known as MANPADs. State Department spokeswoman Victoria Nuland promptly denied that the US is delivering any such, or any other, weapons to the rebels." Continue reading →

Continue ReadingU.S. ‘coordinates weapon deliveries’ to Syria rebels: Russia

The Recovery Meme and Why It’s Just Talk

"The top people in Britain announce the 'recession' is over ... and then the powers-that-be attribute its ending to the Diamond Jubilee and the English-hosted Olympics. These are fairytales. The world's current downward spiral is the quite deliberate result of money printing that causes first booms and then busts. Too much money always distorts the economic system. It's an old banking trick, from what we can tell, but aided immeasurably by modern monopoly central banking. irst they expand. Then the economic rubber band snaps back, leaving people dazed and bleeding. And then those responsible begin to point fingers." Continue reading →

Continue ReadingThe Recovery Meme and Why It’s Just Talk

College tuition increases more than triple the rate of inflation

"California — which saw the worst tuition increase last year — has a five-year tuition increase of 102 percent for two-year public colleges and a 72 percent five-year increase at four-year colleges. The College Board made a calculated decision to throw out California’s tuition rates in their average because it would have skewed the average increase too high. A separate report found that 81 percent of African American students carries some kind of student debt along with 67 percent of Latino students. Only about 64 percent of white students, meanwhile have student debt." Continue reading →

Continue ReadingCollege tuition increases more than triple the rate of inflation

Why Does Ben Bernanke Set a Specific Point Target for Inflation and Not a Range?

"Because he thinks it is easier to hoodwink the public with a single target inflation rate than with a range. In the book, Inflation Targeting, which is co-authored by Bernanke, point targets versus range targets are discussed. Currently, the Fed has a price inflation target of 2%. Expect price inflation to climb above this level and for Bernanke to do as it says in his book and jawbone that inflation above target is simply 'because of unavoidable uncertainties.'" Continue reading →

Continue ReadingWhy Does Ben Bernanke Set a Specific Point Target for Inflation and Not a Range?

FBI: Louisiana woman staged racist attack

"A young black woman in the US state of Louisiana apparently staged a racist attack in which she told police that three men set her ablaze and scrawled KKK on her car, officials said Tuesday. Sharmeka Moffitt, 20, was seriously burned in the incident and remains in critical condition. She called police from a park in the town of Winnsboro on Sunday night and told them three men in white hoodies doused her with a flammable liquid and ignited it. The FBI was called in to assist local authorities because the incident was initially considered a possible hate crime." Continue reading →

Continue ReadingFBI: Louisiana woman staged racist attack

Switzerland: The Other Currency Manipulator

"Switzerland is manipulating its currency for the exact same reason China does: to help exporters gain a price advantage. And Switzerland is a big net exporter, with a current account surplus (exports minus imports) of 12 percent of GDP, compared to just 3 percent for China. Why aren’t we freaking out about Swiss currency manipulation? Probably because Switzerland’s small scale helps us understand what a manipulated currency really means: cheaper Swiss goods for U.S. consumers. With China, we somehow get this backwards." Continue reading →

Continue ReadingSwitzerland: The Other Currency Manipulator