for life and liberty

NSA Sings This Land Was Made For You And Me

"The Atlantic Wire reports on the head-scratching and ultimately face-palming presentation made by the NSA to a Senate Judiciary Meeting a couple of days ago. Besides being informed that North America is now just one, big, happy and trendy turquoise family, we learn of '9 threats involving U.S. Persons or Facilities Overseas' (lower left corner of the picture). Does 'involving' mean that we so-called U.S. Persons are under threat, or that we are a threat or, maybe, both simultaneously? Perhaps the NSA can explain since they seem to know more about us than we do. Hey, at least we finally got our name on the map." Continue reading →

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Jeffrey Tucker on a Bitcoin Standard, The Hard Money Crowd, and Once-and-Future Conferences

"Shownotes for Episode 28 - Ponzis, Malware, and the Hashing Cartel: ASIC’s or Botnets? What’s the Long Term Solution to our Medium Term Problems? Why isn’t it simple to be a miner? Jeffrey Tucker and I talk about a Bitcoin Standard, The Hard Money Crowd, and Once-and-Future Conferences; Can Validation Nodes Be The Solution to Centralization? How do I Get Paid in Bitcoins?" Continue reading →

Continue ReadingJeffrey Tucker on a Bitcoin Standard, The Hard Money Crowd, and Once-and-Future Conferences

Even when jobs return, Detroit’s workers fall short on skills

"Detroit emergency manager Kevyn Orr has a long list of things to fix in the city and among them is one that may sound surprising: there are not enough skilled workers to fill job openings as they become available. Seismic shifts in the local labor market have left many unskilled workers behind. Public-sector efforts at job training have shown scant results. After then-governor Jennifer Granholm established a $500 million job training program in 2007, roughly $100 million was spent in Detroit through 2010, but few got jobs because so few positions were available, said Jose Reyes, chief operating officer of the DESC job training agency." Continue reading →

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American Automobile Glut? Unsold Cars Are Piling Up

"There are some signs automakers might be stepping on the gas a little too hard. Some 3.27 million new cars are now sitting on lots across the U.S., more than there have been in almost five years, according to Automotive News. That’s a lot of cars—just enough to equip every man, woman, and child in the state of Iowa with a new vehicle. A year ago at this time, by contrast, there were 2.7 million vehicles lying in wait across the country; summer 2011 saw an inventory of about 1 million fewer cars. Looking for a deal on a vehicle in the next month or two? Dealership lots that stock American automakers appear to be ripe for bargain seekers." Continue reading →

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What is the Money Supply?

"Money supply growth has been crashing. Near the start of the year, three month annualized money growth was around 11.2%. It is now at 2.2%. I use the Fed's money supply measure M2 (non-seasonally adjusted) to calculate the growth. If the slowdown in growth continues, it suggests that the Fed manipulated economy will slow once again and that the stock market is likely to once again crash." Continue reading →

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Former IMF Chief Economist: Sadly, Too Big to Fail Is Not Over

"There are three issues: the powers of the Federal Reserve, the mandate of the Federal Deposit Insurance Corporation and the vulnerability of taxpayers when one or more large complex financial institutions fail. We have at least five such companies in the United States, all of which are intensely cross-border in their operations (in order of size, JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley). The biggest and most leveraged financial companies in the United States today are all now bank-holding companies, with access to the discount window at the Fed, via their commercial banking subsidiaries." Continue reading →

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The ‘new GDP’ methodology: What you need to know

"The Commerce Department has made changes to how it calculates gross domestic product, designed to have the data better reflect the so-called knowledge economy. The U.S. government adjusted data all the way back to 1929, and other countries have or are about to make similar changes to their data. At the same time, the government also went back and revised data for the past five years.What’s the upshot? The rate of growth hasn’t changed all that much, though there are big shifts in a few time periods. But the level of output is higher — $559.8 billion larger, with $526 billion of that amount due to definitional changes." Continue reading →

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Four False Assumptions That Can Kill Your Portfolio

"It’s been so long since interest rates had a real 'up' cycle that Wall Street — and many average investors — have forgotten what that even looks like. Four toxic interest-rate assumptions have the potential to kill your portfolio: First, Wall Street thinks the Federal Reserve can control all interest rates with a few words or the wave of a monetary wand. Second, Wall Street thinks that when interest rates go up, it’s always a slow and gentle climb. Third, Wall Street thinks that rising interest rates are solely a consequence of an improving economy and nothing else. And fourth, Wall Street thinks that because of that, the impact will be benign." Continue reading →

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Madonna and Lady Gaga accused of breaking Russian visa rules

"Russian officials are considering prosecution against Lady Gaga and Madonna after discovering they entered the country under incorrect paperwork. As any Moscow visitor will know, Russian immigration can be extremely complicated. But Gaga and Madonna's mistakes weren't just discovered by accident: prosecutors launched their investigation only after being contacted by one of the singers' most outspoken enemies. The man in question was Vitaly Milonov, who serves in St Petersburg's municipal legislature and authored St Petersburg's law banning gay 'propaganda'." Continue reading →

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Russian Orthodox Church: Snowden deals blow to ‘global electronic prison camp’

"Archpriest Vsevolod Chaplin has praised Russian authorities for not caving in to pressure from abroad, saying granting Snowden asylum would help prevent the establishment of a ‘global electronic prison camp’. 'It is encouraging news that Russia is demonstrating its independence in this case as it has in many others, despite the pressure' said the head of the Holy Synod’s Department for Relations between the Church and Society. Vsevolod Chaplin added that the Snowden saga has been broadly discussed both on the domestic and international level, with Russia’s position potentially bolstering its image as a country upholding 'the true freedom of ideals.'" Continue reading →

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