How Green Was My Bankruptcy? U. S. Army Edition.
"Great News! Siemens will generate an 18% return on a project that will have a negative return on investment (-9%)… All at the taxpayers’ expense!" Continue reading →
Obama turns ‘austerity inauguration’ into a dash for corporate cash
"What a lot has changed in four years. As Obama prepares to revel in his second inauguration, on Monday, there is no ceiling on what an individual can give, corporations and lobby groups are very welcome and the presidential inaugural committee has been going on a fundraising binge as though there was no tomorrow. On surface appearance, the inauguration is a sober and scaled-down affair compared with 2009. But don’t be fooled by the outward semblance of austerity. In fact, says the government transparency watchdog, the Sunlight Foundation, this year’s inauguration has been turned into an orgy of cash generation." Continue reading →
New £150million F-35 combat jet is banned from flying in bad weather because it could explode
"The Telegraph has reported the revelations were disclosed in a leaked report from the Pentagon's operational test and evaluation office, which states that, until a device in the fuel tank is redesigned, test-flying within 25 miles of thunderstorms is 'not permitted'. Several other problems have been identified with the plane, including a fault in the design of the fuel tank which means it is unable to rapidly descend to low altitude. A handful of cracks were also discovered in the tested aircraft during examinations by the United States Air Force and the aircraft's manufacturer Lockheed Martin." Continue reading →
The Business of War: SOFEX
"SOFEX is where the world's leading generals come to buy everything from handguns to laser-guided missile systems. It stands for 'Special Operations Forces Exhibition Conference' and it's essentially a trade-show where just about anyone with enough money can buy the most powerful weapons in the world." Continue reading →
Prison labor booms in US as low-cost inmates bring billions
"US breeds a Chinese-style inmate labor scheme on its own soil. Both state and some of the biggest private companies are now enjoying the fruits of a cheap and readily available work force, with tens of millions of dollars spent by private prisons to keep their jails full." Continue reading →
It’s Fast Becoming the Entitlement-Crony Complex
"The crony military-industrial complex still exists, but it is quickly becoming second fiddle to the Entitlement-Crony Complex. From Social Security, to Medicare to food stamps and free cell phones, the voting public is being manipulated for its vote. At the same time the crony elitists have expanded well beyond the military, and include Big Pharma and crony insurance, among many others. And, of course, the banksters always collect their fees." Continue reading →
The Architect of Obamacare is Now Cashing in By Using Obamacare to Sue Insurers
"After nearly three years at the Department of Health and Human Services, longtime insurance regulator and plaintiff’s attorney Jay Angoff is returning to DC-based Mehri & Skalet, PLLC as a partner, where he will lead the firm’s insurance and healthcare practice. Is it relevant that the man who helped craft Obamacare’s regulations on insurers will now make lots of money by suing insurers based on those regulations? Think about the incentives at play here: If you are a lawyer working for the government, and you shape the laws in such a way as to make lawsuits easier, you are then making yourself more valuable to a potential future employer." Continue reading →
Jack Lew — From K Street to Wall Street to Treasury
"Obama has spent years denigrating revolving-door lobbyists and 'fat cats' from Wall Street, yet he has populated his administration with them. By all accounts, Jack Lew is a serious, smart hard worker. But his resume is everything Barack Obama ran against." Continue reading →
The Neoliberal Financial Skim
"Into whose pockets does this gargantuan parasitic skim flow? Hint: not the lower 90% of the American populace. The perfection of the Neoliberal order is a parasitic financial sector protected by the Central Bank and State. That is the U.S. Status Quo in a nutshell." Continue reading →
Themes for 2013: Eight trends to follow in 2013 and beyond.
"Rather than attempt to predict the unpredictable – that is, specific events and price levels – let’s look instead for key dynamics that will play out over the next two to three years. Though the specific timelines of crises are inherently unpredictable, it is still useful to understand the eventual consequences of influential trends. In other words: policies that appear to have been successful for the past four years may continue to appear successful for a year or two longer. But that very success comes at a steep, and as yet unpaid, price in suppressed systemic risk, cost, and consequence." Continue reading →
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