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Seven killed, 261 wounded in Cairo clashes over military coup

"The clashes in the heart of Cairo and in adjacent Giza were the first to rock the Egyptian capital since dozens of Morsi supporters were shot dead outside an elite army barracks early last week. They came just hours after Under Secretary of State Bill Burns — the most senior US official to visit since the army toppled the elected Islamist president on July 3 — appealed for an end to the violence rocking the Arab world’s most populous nation. Thousands of Morsi supporters had poured onto the streets after the iftar meal with which Muslims break their daytime fast during the holy month of Ramadan, to demand the reinstatement of the ousted president." Continue reading →

Continue ReadingSeven killed, 261 wounded in Cairo clashes over military coup

Why are Brazilian coffee-growers striking and burning sacks of coffee?

"In Brazil, which produces a third of the world's coffee beans, farmers are striking over falling prices and burning sacks of coffee in protest. Why are coffee-growers feeling the strain? [..] Many Brazilian and Colombian farmers invested to boost production of arabica in response to the high prices of 2011, which has added to the oversupply and further depressed prices. And good weather in Brazil means that this year's crop has turned out to be unexpectedly large. That is why Brazil's farmers are striking, and are demanding more protection, in the form of fatter subsidies, from the state." Continue reading →

Continue ReadingWhy are Brazilian coffee-growers striking and burning sacks of coffee?

Why are Brazilian coffee-growers striking and burning sacks of coffee?

"In Brazil, which produces a third of the world's coffee beans, farmers are striking over falling prices and burning sacks of coffee in protest. Why are coffee-growers feeling the strain? [..] Many Brazilian and Colombian farmers invested to boost production of arabica in response to the high prices of 2011, which has added to the oversupply and further depressed prices. And good weather in Brazil means that this year's crop has turned out to be unexpectedly large. That is why Brazil's farmers are striking, and are demanding more protection, in the form of fatter subsidies, from the state." Continue reading →

Continue ReadingWhy are Brazilian coffee-growers striking and burning sacks of coffee?

Zimmerman protesters raid LA store, stop freeway

"More than 300 officers were called to the scene and were at first slow to directly engage protesters in an attempt to allow a peaceful end to the demonstration. A smaller group of between 100 and 150 people splintered off and began blocking traffic on nearby Crenshaw Boulevard, some of them jumping on cars and breaking windows at liquor stores and fast food outlets. Several protesters ran into a Wal-Mart store, where they knocked down displays before store security chased them out, and police began guarding the door. TV news helicopters showed some people kicking and punching others along the street, including two people sitting on a bus bench." Continue reading →

Continue ReadingZimmerman protesters raid LA store, stop freeway

Zimmerman protesters raid LA store, stop freeway

"More than 300 officers were called to the scene and were at first slow to directly engage protesters in an attempt to allow a peaceful end to the demonstration. A smaller group of between 100 and 150 people splintered off and began blocking traffic on nearby Crenshaw Boulevard, some of them jumping on cars and breaking windows at liquor stores and fast food outlets. Several protesters ran into a Wal-Mart store, where they knocked down displays before store security chased them out, and police began guarding the door. TV news helicopters showed some people kicking and punching others along the street, including two people sitting on a bus bench." Continue reading →

Continue ReadingZimmerman protesters raid LA store, stop freeway

Glenn Greenwald: The crux of the NSA story in one phrase: ‘collect it all’

"The Washington Post this morning has a long profile of Gen. Keith Alexander, director the NSA, and it highlights the crux of the NSA stories, the reason Edward Snowden sacrificed his liberty to come forward, and the obvious focal point for any responsible or half-way serious journalists covering this story. It helpfully includes that crux right in the headline, in a single phrase. What does 'collect it all' mean? Exactly what it says; the Post explains how Alexander took a 'collect it all' surveillance approach originally directed at Iraqis in the middle of a war, and thereafter transferred it so that it is now directed at the US domestic population as well as the global one." Continue reading →

Continue ReadingGlenn Greenwald: The crux of the NSA story in one phrase: ‘collect it all’

Glenn Greenwald: The crux of the NSA story in one phrase: ‘collect it all’

"The Washington Post this morning has a long profile of Gen. Keith Alexander, director the NSA, and it highlights the crux of the NSA stories, the reason Edward Snowden sacrificed his liberty to come forward, and the obvious focal point for any responsible or half-way serious journalists covering this story. It helpfully includes that crux right in the headline, in a single phrase. What does 'collect it all' mean? Exactly what it says; the Post explains how Alexander took a 'collect it all' surveillance approach originally directed at Iraqis in the middle of a war, and thereafter transferred it so that it is now directed at the US domestic population as well as the global one." Continue reading →

Continue ReadingGlenn Greenwald: The crux of the NSA story in one phrase: ‘collect it all’

Subsidized Food Programs: 100 Million Americans

"You may have heard that 47 million Americans are on food stamps, or as they call it these days, SNAP: Supplemental Nutrition Assistance Program. What about subsidized lunches for children? Add 32 million. What about school breakfast programs? What about WIC — Women, Infants, and Children? Don’t forget snacks at day care centers. Then there is the Special Milk Program for schools and a Summer Food Service Program. When schools close, the subsidies still flow. But the small farmer, in whose name the farm subsidy programs exist, disappeared after World War II. Only 2% of Americans live on farms. Then who wins? Agribusiness." Continue reading →

Continue ReadingSubsidized Food Programs: 100 Million Americans

Subsidized Food Programs: 100 Million Americans

"You may have heard that 47 million Americans are on food stamps, or as they call it these days, SNAP: Supplemental Nutrition Assistance Program. What about subsidized lunches for children? Add 32 million. What about school breakfast programs? What about WIC — Women, Infants, and Children? Don’t forget snacks at day care centers. Then there is the Special Milk Program for schools and a Summer Food Service Program. When schools close, the subsidies still flow. But the small farmer, in whose name the farm subsidy programs exist, disappeared after World War II. Only 2% of Americans live on farms. Then who wins? Agribusiness." Continue reading →

Continue ReadingSubsidized Food Programs: 100 Million Americans

Senior Italian parliament economist on Ludwig von Mises and the current economic crisis

"The vision Mises had about inflation as an illusion imposed is not so far from the Ricardian idea that government bonds are not net wealth, since future generations will have to bear their burden. Inflation and public debt, then, are two sides of the same coin, because they create substantial intergenerational redistributive effects that policy makers cannot evaluate ex-ante. We are realising today how accurate Mises was in his predictions. Mises had these issues clear in his mind and implicitly warned central bankers of the risk of losing money to its real meaning and of exposing the economy to the risk of currency devaluation." Continue reading →

Continue ReadingSenior Italian parliament economist on Ludwig von Mises and the current economic crisis