Mad Statists

Wall Street: The Next Fed Chief Should Keep the Presses Running

"'Monetary policy has little scope to stimulate the economy,' Summers suggested in September 2008, 'given how low interest rates already are and the problems in the financial system.' Since then, the Fed has bought $2.3 trillion in Treasury and mortgage bonds. It also increased the money supply to unprecedented levels. In contrast, the other front-runner, Federal Reserve vice chair Janet Yellen, said back in March she would not taper anytime soon. CNBC’s poll of Wall Street analysts indicated they believed Yellen would better manage a financial crisis. Translation: She is more likely to keep the presses hot." Continue reading →

Continue ReadingWall Street: The Next Fed Chief Should Keep the Presses Running

Teenaged entrepreneur denounces business-limiting French laws in Quebec

"17-year-old graphic designer Xavier Menard tried to register his company but was told by the Quebec business registry that he couldn't because the company's name--Wellarc--is too English. 'My first reaction was: you must be kidding,' Menard said. The bureaucrats were serious, so the mild-mannered teenager took his anger to YouTube. In a short video Menard attacks Pauline Marois's government, not for its desire to protect the French language, but for its 'idiotic' methods. In his video Menard points out Quebec's 7.5 percent unemployment rate, which is higher than the national average, and says it is even worse for youth." Continue reading →

Continue ReadingTeenaged entrepreneur denounces business-limiting French laws in Quebec

FATCA: ‘Simple premise’ gone terribly wrong

"Most Americans living outside the U.S. are not 'tax cheats,' 'tax evaders' or 'traitors' though they are often characterized that way in the media or even by members of Congress. Instead, they are honest, productive, contributing residents of other countries, which they call home. In many cases, they are also citizens of those countries. President Obama and members of Congress, how did the 'simple premise' of 'cracking down on illegal tax evasion and closing loopholes' become an attack on financial lives and personal integrity of millions of people living outside United States, their banks and laws and constitutions of their countries of residence?" Continue reading →

Continue ReadingFATCA: ‘Simple premise’ gone terribly wrong

Calgary student, 13, reprimanded for defending his classmate against a knife-wielding bully

"He didn’t see the knife, but 'I heard the flick, and I heard them say there was a knife.' The rest was just instinct. Briar stepped up to defend his classmate, pushing the knife-wielding bully away. It wasn’t until fourth period everything went haywire. 'I got called to the office and I wasn’t able to leave until the end of the day,' he said. That’s when Leah O’Donnell, Briar’s mother, received a call from the vice-principal. Instead of getting a pat on the back for his bravery, Briar was made to feel as if he had done something terribly wrong. The police were called, the teen filed a statement and his locker was searched." Continue reading →

Continue ReadingCalgary student, 13, reprimanded for defending his classmate against a knife-wielding bully

US blows out $16.7 trillion debt limit

"The US Treasury has already exceeded the federal legal borrowing limit of $16.7 trillion in May. That signals the main structural problems remain unresolved putting at risk the fragile recovery. The country’s outstanding public debt is already $38.82 million above the statuary debt ceiling and now at $16,738,220,000,000.00, according to Treasury data. In the debt ceiling debate two years ago, lawmakers and the White House battled for months before Obama signed an increase into law on Aug. 2, 2011, the day the Treasury Department warned that US borrowing authority would expire, Reuters reports." Continue reading →

Continue ReadingUS blows out $16.7 trillion debt limit

Paul Craig Roberts: The Two Faux Democracies Threaten Life On Earth

"The Pentagon’s 'AirSea Battle' and Lieber and Press’ article in Foreign Affairs have informed China and Russia that Washington is contemplating pre-emptive nuclear attack on both countries. To ensure Russia’s inability to retaliate, Washington is placing anti-ballistic missiles on Russia’s borders in violation of the US-USSR agreement. Because the American press is a corrupt government propaganda ministry, the American people have no idea that neoconized Washington is planning nuclear war, or of former President Jimmy Carter’s recent statement, reported only in Germany, that the United States no longer has a functioning democracy." Continue reading →

Continue ReadingPaul Craig Roberts: The Two Faux Democracies Threaten Life On Earth

Chris Christie’s Attack on the Civil-Liberties Wing of the GOP

"Now it seems clear that Christie will adopt the neoconservative line on national security, embracing the most radical actions of both George W. Bush and Barack Obama. Speaking at the Aspen Institute on Thursday, Christie belittled the libertarian wing of his party for its take on NSA spying. 'As a former prosecutor who was appointed by President George W. Bush on Sept. 10, 2001, I just want us to be really cautious, because this strain of libertarianism that's going through both parties right now and making big headlines, I think, is a very dangerous thought,' he said." Continue reading →

Continue ReadingChris Christie’s Attack on the Civil-Liberties Wing of the GOP

Egypt’s wheat problem: how Morsi jeopardized the bread supply

"Lack of money and a quixotic attempt at making Egypt self-sufficient spurred the decline, say officials familiar with the matter. Mursi dreamt of making Egypt grow all its own wheat and allowed imported stocks to fall to precariously low levels. It hurt both the country’s wheat stocks and Mursi’s government. With a quarter of Egypt’s 84 million people living below the poverty line of $1.65 a day, millions depend on subsidized bread that sells for less than 1 U.S. cent per loaf. That supply relies on foreign wheat. The country is the world’s largest wheat importer, bringing in about 10 million tonnes a year, around half its annual consumption." Continue reading →

Continue ReadingEgypt’s wheat problem: how Morsi jeopardized the bread supply

Pope Francis warns Latin America against legalizing drugs

"Pope Francis has warned Latin America against legalizing drugs, arguing that liberal policies under consideration in his home region will not reduce the problem. 'A reduction in the spread and influence of drug addiction will not be achieved by a liberalization of drug use, as is currently being proposed in various parts of Latin America,' he said on the third day of his trip. Guatemala’s president has called for legalization, a vision shared by ex-presidents in Brazil, Mexico and Colombia but opposed by the United States and Mexican governments. Uruguayan President Jose Mujica has proposed legalizing marijuana." Continue reading →

Continue ReadingPope Francis warns Latin America against legalizing drugs

McCain: $1 coin could lead to bigger tips for strippers

"Sen. John McCain has a wish for any exotic dancers who might feel the pinch from legislation he’s backing that would do away with the dollar bill and replace it with a dollar coin: Shake what your momma gave you and make more moolah. The Arizona Republican joined Sens. Tom Harkin (D-Iowa), Tom Coburn (R-Okla.), Mike Enzi (R-Wyo.) and Mark Udall (D-Colo.) in introducing the COINS Act last month. Advocates for the measure contend that saying sayonara to George Washingtons in favor of coins would save the government billions of dollars." Continue reading →

Continue ReadingMcCain: $1 coin could lead to bigger tips for strippers