Mad Statists

Did Senator McCain Violate NDAA by Hanging Out with Syrian Rebels?

"In fact, the same day President Obama announced our recognition of the opposition, rebel groups across Syria signed a petition pledging allegiance to the Jihad and asking America by name not to intervene. It’s hard to imagine that twelve years after 9/11, Senator McCain would be calling for US foreign and military aid be given to 'the Jihad.' Interestingly enough, this is the same Senator McCain who championed NDAA 2012, which gives our government the right to indefinitely detain Americans for doing exactly what he did: supporting elements aligned with al-Qaeda." Continue reading →

Continue ReadingDid Senator McCain Violate NDAA by Hanging Out with Syrian Rebels?

Reality Check: Sen. McCain Visits Rebels In Syria, Congressman Questions Al-Qaeda Ties

"A secret visit to Syria over Memorial Day weekend by Senator John McCain. The Senator, meeting with leaders of the Free Syrian Army, as Washington debates whether or not to arm the rebels. But is arming the rebels a good idea?" Continue reading →

Continue ReadingReality Check: Sen. McCain Visits Rebels In Syria, Congressman Questions Al-Qaeda Ties

QE Exit to Rattle U.S. Bond Markets, Warns OECD

"'Exit from unconventional monetary policy, when needed, may be difficult to manage and less smooth than desirable, possibly leading to sharp rises in bond yields and serious negative consequences for growth in a number of advanced and emerging economies,' Pier Carlo Padoan, OECD’s deputy secretary-general and chief economist, said in the report. 'A leap in U.S. government bond yields would result in capital losses for investors, and prices on other assets would most likely follow suit, with mortgage-backed securities and corporate bonds most strongly affected. [..] In comparison with 1994, this could be more disruptive given current higher leverage." Continue reading →

Continue ReadingQE Exit to Rattle U.S. Bond Markets, Warns OECD

Caitlin Long: Vulnerability of Fed’s Balance Sheet

"Several companies have recently asked us for an analysis of the Federal Reserve tapering its quantitative easing programs. One factor that is not widely analyzed is the Fed’s own balance sheet, which could be a constraint on how far and how fast the Fed permits interest rates to rise in the US. We calculate that a 143bp parallel rise in the yield curve would cause a drop in the market value of the Fed’s assets that exceeds the Fed’s own equity capital (as of May 15). The Fed balance sheet’s capacity to absorb higher interest rates has deterioriated quickly, as the 143bp capacity is down from 185bp as of last October." Continue reading →

Continue ReadingCaitlin Long: Vulnerability of Fed’s Balance Sheet

Google no longer able to pay Android developers in Argentina, pulling apps on July 27th

"Developers in Argentina have begun receiving letters from Google informing them that 'Google Play will no longer be able to accept payments on behalf of developers registered in Argentina starting June 27, 2013.' The change applies to both paid apps and apps that use in-app purchases. The move appears to be related to new, restrictive regulations the Argentine government has imposed on currency exchanges, which The Telegraph detailed this past September. Twitter has quite a few developers complaining about the changes, but it's not clear how many people will be affected." Continue reading →

Continue ReadingGoogle no longer able to pay Android developers in Argentina, pulling apps on July 27th

Man Responsible For NY 15-Year Mandatory Minimum Pot Sentences Dies

"William M. Fine, a former magazine publisher and retailer whose research for Gov. Nelson A. Rockefeller helped shape New York State’s stringent narcotics laws, died on Friday in Beverly Hills, Calif. His biggest impact on history resulted from a dinner party conversation with Rockefeller in early 1972, according to a former Rockefeller aide. On May 8, 1973, Rockefeller signed legislation mandating minimum prison sentences of 15 years for selling two ounces or possessing four ounces of heroin, cocaine or marijuana. The legislation was the toughest in the country, and increased the state’s prison population 500 percent over the next 20 years." Continue reading →

Continue ReadingMan Responsible For NY 15-Year Mandatory Minimum Pot Sentences Dies

As the market panic demonstrates, central banks are stuck on a treadmill of money printing

"Last night's panic in Tokyo, where the Nikkei dropped a stomach churning 7 per cent, demonstrates just how difficult it's going to be for the world's central banks to exit their loose money policies. It's not even as if Ben Bernanke, chairman of the Fed, said he was planning to exit; in fact, initially he said the reverse in testimony to Congress. What the subsequent violent gyrations in markets indicate is that any hint of applying the brakes risks generating a fresh financial crisis, which in turn would render the economic recovery still born. Both financial markets and the real economy have become addicted to 'quantitative easing', such that they can't do without it." Continue reading →

Continue ReadingAs the market panic demonstrates, central banks are stuck on a treadmill of money printing

The Bank of Japan must crush all resistance, and will do so

"Kudos to Kyle Bass at Hayman Advisers for warning that the Bank of Japan would lose control of its ¥70 trillion bond buying blitz. The spike in the 10-year yield to 1pc on Thursday was certainly shocking to behold. His point is that the BoJ faces a 'rational investor paradox'. The authorities are trying to drive up the inflation to 2pc and therefore to devalue Japanese government bonds (JGBs), so why on earth would you want to own them? He says the scramble to sell has 'overwhelmed' buying by the BoJ. Governor Kuroda will now have double down with a huge increase in the scale of QE." Continue reading →

Continue ReadingThe Bank of Japan must crush all resistance, and will do so
Read more about the article U.S. drug czar: Marijuana is drug most often linked to crime

U.S. drug czar: Marijuana is drug most often linked to crime

"Kerlikowske, a former Seattle police chief, has consistently opposed legalization since he became President Barack Obama’s top drug policy adviser in 2009. His position puts him at odds with two states, Washington and Colorado, that voted in November to legalize marijuana, a controlled substance that remains illegal under federal law. With the Obama administration doing nothing so far to try to stop them, both states are proceeding with plans to begin selling marijuana for recreational use next year. A third state, Alaska, might follow soon, with legalization supporters aiming to get the measure on the state’s primary ballot in August of next year." Continue reading →

Continue ReadingU.S. drug czar: Marijuana is drug most often linked to crime

‘Campaign to Stop Killer Robots’ calling for ban on ‘fully autonomous weapons’

"The idea of autonomous killer robots may seem like the stuff of science fiction, but human rights groups are already preparing for what appears to be the future of weaponry. The Campaign to Stop Killer Robots, a coalition of international groups, is preparing for a global summit in Geneva Switzerland on Wednesday, May 29 that will review a U.N. report on these types of weapons that was released earlier this week. The Campaign hopes to convince nations to sign on to an international ban on autonomous weapons." Continue reading →

Continue Reading‘Campaign to Stop Killer Robots’ calling for ban on ‘fully autonomous weapons’