Mad Statists

Bankers: College debt bubble mimics housing bubble

"A group of bankers have just dumped two more problems on the Federal Reserve's plate. The Federal Advisory Council, made up of 12 bankers who meet quarterly to advise the central bank, warned that farmland prices are inflating 'a bubble' and growth in student-loan debt has 'parallels to the housing crisis,' which was the primary cause of the Great Recession in the U.S. Bernanke has dismissed parallels between student lending and the subprime mortgage crisis." Continue reading →

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Montana’s Medical Marijuana Industry Goes Down

"The drop was driven in part by a tougher 2011 law on medical marijuana use and distribution. But more than anything, marijuana advocates say, the demise of the once-booming medical pot industry was the result of the largest federal drug-trafficking investigation in the state's industry. The three-year investigation by the U.S. attorney's office, the DEA and other federal agencies wrapped up last week when the last of 33 convicted defendants was sentenced. That allowed its architect, U.S. Attorney Michael Cotter, to speak publicly for the first time on the crackdown. Cotter said he believes he is on the right side of history, regardless of what is happening in the country." Continue reading →

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Ron Paul: What No One Wants to Hear About Benghazi

"Neither side wants to talk about the real lesson of Benghazi: interventionism always carries with it unintended consequences. The US attack on Libya led to the unleashing of Islamist radicals in Libya. These radicals have destroyed the country, murdered thousands, and killed the US ambassador. Some of these then turned their attention to Mali which required another intervention by the US and France. Previously secure weapons in Libya flooded the region after the US attack, with many of them going to Islamist radicals who make up the majority of those fighting to overthrow the government in Syria." Continue reading →

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‘Flaky’ Syrian Chemical Weapons Evidence Does Not Deter Neo-Cons

"Case in point is today's NY Times op-ed by Bill Keller -- the same Bill Keller who cheered for the 2003 US war on Iraq, defended the lies of media-Goebbels Judith Miller, and wrote a love note to neo-con prince Paul Wolfowitz, calling him the 'Sunshine Warrior'. In today's piece, Keller tells us to ignore the fact that he helped lie us into war with Iraq, blithely calling it 'our ill-fated adventure,' as if it were some sort of Sunday drive gone wrong. Best to forget the millions whose lives have been destroyed in the war he pushed -- because he is back without shame to promote the next one." Continue reading →

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How I Printed So Much Money in Zimbabwe That the Country Experienced Hyper-Inflation

"The former head of Zimbabwe's central bank, Gideon Gono, wrote a book in 2008, Zimbabwe's Casino Economy. The book is about his running of the bank during the country's period of hyper-inflation." Continue reading →

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U.S. Government vs. DEFCAD 3D Printable Gun: You Can’t Fix Stupid

"They’re like the Society Matron who walks into the dining hall in a Three Stooges short and demands 'What is the meaning of this?!!' To them the Internet is just a big Series of Tubes, and all they have to do is shut off a valve somewhere to control the flow of information. Only the Internet doesn’t work that way. In John Gilmore's phrasing, it treats censorship as damage and routes around it. Their legal rationale — export control legislation — displays the same conceptual failure. They couldn’t quite grasp that the 'goods' that DEFCAD was 'exporting' arrived in their destination ports around the world the second the files were uploaded to the website." Continue reading →

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Obama Sees ObamaCare as Legacy Too Worthy to Resist

"Obama summoned about 20 senior administration officials to the White House’s Roosevelt Room for an hour-long meeting on the implementation of his health-care law. Obama began by reminding his staff that the Affordable Care Act would be one of his major legacies and its execution among the highest priorities of his second term, according to a Democrat familiar with the gathering. The session, which has been followed by regular presidential briefings, led to a two-track campaign to defend the measure against united Republican opposition declaring it a failure and to motivate uninsured Americans to sign up for health-care coverage." Continue reading →

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Reuters: U.S. cyberwar strategy stokes fear of blowback

"Even as the U.S. government confronts rival powers over widespread Internet espionage, it has become the biggest buyer in a burgeoning gray market where hackers and security firms sell tools for breaking into computers. The strategy is spurring concern in the technology industry and intelligence community that Washington is in effect encouraging hacking and failing to disclose to software companies and customers the vulnerabilities exploited by the purchased hacks. That's because U.S. intelligence and military agencies are using the tools to infiltrate computer networks overseas, leaving behind spy programs and cyber-weapons." Continue reading →

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Argentina offers tax amnesty to head off devaluation

"Argentina's latest effort to tease out billions of U.S. dollars said to be held by citizens through sweeping tax breaks and interest earnings received lukewarm response, though this may change. Argentine citizens are said to be holding the greenback in illegal stashes as a hedge against the Argentine peso's unstable performance, a runaway inflation and general distrust of the government's fiscal and monetary policies. Official estimates say at least $160 billion is held in cash at home and abroad by Argentines who have yet to declare their holdings." Continue reading →

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Fed Economists: Stocks Are The Cheapest They’ve Been In 50 Years

"New York Fed economists Fernando Duarte and Carlo Rosa are out with a new article on Liberty Street Economics titled, 'Are Stocks Cheap? A Review of the Evidence.' The answer: judging by the equity risk premium (ERP), stocks are about as cheap as they've ever been. The last time the Fed said something so bold was when in 2004 when NY Fed economists wrote that there was no housing bubble." Continue reading →

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