CLibertyC

Post-Cyprus Blues: Confusion and an Erosion of Faith

"It may be misleading to project the crisis and resolution in Cyprus onto other quite different financial crises in other quite different economies. The common ground may be a rising fear of capital controls and the search for safe havens that won't implode or change the rules overnight. The sudden emergence of risk in what was perceived to be a safe haven will likely spark interest in non-banking safe havens, for example, precious metals, and what correspondent Mark G. calls the Glass Jar Bank, which he observes is still a popular alternative in Eastern Europe to entrusting one's cash to banks." Continue reading →

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Student Loan Debt Growing, Along With Delinquency Rate

"Total student debt was the only type of household debt that continued to rise throughout the recent recession while most households were de-leveraging, and is now second only to mortgage debt. You’ve probably heard the 'trillion dollar' number in the news. I think the most worrying stat is the increasing rate of defaults. Actual delinquency rates are often understated because almost half of these loans are currently in deferment or in grace periods and therefore are not in the repayment cycle. Among loans that are actually subject to repayment, delinquency rates are over 30% overall and rising." Continue reading →

Continue ReadingStudent Loan Debt Growing, Along With Delinquency Rate

War Without End

"There has been much in the news over the past two weeks commemorating the 10th anniversary of the beginning of the pre-emptive Iraq War. The above YouTube video commemorates the ending of an even greater conflict, World War I, which began in 1914 and ended in 1918. This is one of the most powerful and heart-wrenching documentaries you will ever watch, especially the never-to-be-forgotten recitation of the Siegfried Sassoon poem, Aftermath, by actor Jeremy Irons at the end of the program (which garnered an Emmy Award)." Continue reading →

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Caterpillar Punked By Chinese Fraud, To Write Off Half Of Q4 Earnings

"Fraudulent Chinese corporations are nothing new - we have been warning about them since late 2010. One company, however, which apparently was completely unaware of the now pervasive and proven for the past two years Chinese corporate fraud, is US industrial titan Caterpillar. This was made clear when, after hours on Friday night naturally, the company revealed that it had been misled by 'deliberate, multi-year, coordinated accounting misconduct' at a subsidiary of a Chinese company it acquired last summer, leading it to write off most of the value of the deal." Continue reading →

Continue ReadingCaterpillar Punked By Chinese Fraud, To Write Off Half Of Q4 Earnings

Actuarial study: Obamacare law to bring double-digit percent increases to insurance premiums

"Medical claims costs — the biggest driver of health insurance premiums — will jump an average 32% for Americans' individual policies under the Affordable Care Act health care law, according to a study out Tuesday by the nation's leading group of financial risk analysts. While some states will see medical claims costs per person decline, the report prepared by the Society of Actuaries concluded that the overwhelming majority will see double-digit increases in their individual health insurance markets, where people purchase coverage directly from insurers. Much of the reason for the higher claims costs is that sicker people are expected to join the pool, the report said." Continue reading →

Continue ReadingActuarial study: Obamacare law to bring double-digit percent increases to insurance premiums

Obama Admin. Ignores Nullification: Federal Agents Will Enforce ObamaCare

"President Obama will not wait on states to enforce ObamaCare. The Obama administration has announced its intent to disregard state laws and state constitutional amendments prohibiting the enforcement of ObamaCare. Federal agents from the Department of Health and Human Services will assume absolute control over states’ health insurance industry and regulation in states that refuse to comply with the federal healthcare mandates." Continue reading →

Continue ReadingObama Admin. Ignores Nullification: Federal Agents Will Enforce ObamaCare

Bauman’s Little Black Book of Buffoons

"Public servants who no longer serve the best interests of the public should always follow Sir Anthony Eden’s example and resign on moral grounds. And here in the U.S., the list of useless officials in our government is shocking and even demoralizing. Resign! What follows is just a small sample of them, albeit the top five in my little black book of who should fall on their swords – all of them buffoons." Continue reading →

Continue ReadingBauman’s Little Black Book of Buffoons

Furor Growing Against Obama Over ‘Monsanto Protection Act’

"The protests come on the heels of a massive petition campaign organized by the advocacy group Food Democracy Now, which gathered the signatures of more than 200,000 people who wanted Obama to veto HR 933 in order to stop Section 735 -- the so-called 'Monsanto Protection Act' -- from being codified into law. But Obama ignored it, instead choosing to sign a bill that effectively bars federal courts from being able to halt the sale or planting of GMO or GE crops and seeds, no matter what health consequences from the consumption of these products may come to light in the future." Continue reading →

Continue ReadingFuror Growing Against Obama Over ‘Monsanto Protection Act’

The Centralization of Intellectual Control Proceeds Apace

"How has publishing in top economics journals changed since 1970? First, annual submissions to the top-5 journals nearly doubled from 1990 to 2012. Second, the total number of articles published in these journals actually declined from 400 per year in the late 1970s to 300 per year most recently. As a result, the acceptance rate has fallen from 15% to 6%, with potential implications for the career progression of young scholars. Third, one journal, the American Economic Review, now accounts for 40% of top-5 publications, up from 25% in the 1970s." Continue reading →

Continue ReadingThe Centralization of Intellectual Control Proceeds Apace