Resistance

Bill Bonner: Moms & pops to be skinned again

"The idea is to buy low and sell high. Poor old mom and pop can't seem to get it right. They buy high and sell low. Dalbar, an outfit that tracks investment performance, calculates that $100,000 invested 20 years ago would have grown to $484,000 if you just left it in the S&P 500 and did nothing else. But the typical investor waited too long to buy and then sold out when stocks went down. At the end of 2012, he had only $230,000. And now that stocks have been run up - by the Fed's easy money policies - for 5 years, Mom and Pop can't help themselves. They're back in the stock market...ready to be skinned again." Continue reading →

Continue ReadingBill Bonner: Moms & pops to be skinned again

Doug French: So Where’s the Hyperinflation Already?

"The industry has shrunk to only about 7,000 institutions from 18,000 in 1985. The numbers won’t be growing as the FDIC is not issuing new bank charters. Proposed capital and regulatory requirements are forcing small to mid-sized banks to sell. Larger banks can’t grow organically so they are ready to buy. Lashley believes the industry will shrink further to 3,000 banks. While Lashley insists the industry is in much better shape than people think, a full five years after the financial crisis there are still 612 banks on the FDIC’s 'problem bank' list. None of this is bullish for increased lending." Continue reading →

Continue ReadingDoug French: So Where’s the Hyperinflation Already?

The Tax-Evaders Who Never Make The News

"You'll never hear peep about another group of tax evaders. This group flies under the radar every time. You see, when The Federal Reserve cranks out fresh copies of Bernanke Bucks, someone always gets their hands on the money first. These are the evaders of the insidious 'Inflation Tax'. Think Wall Street, The Defense War-Making Industry, and the multitude of crony companies that receive government subsidies. They take their hot-off-the-press Bernanke Bucks and start spending them (bidding up prices). These are the lucky 'winners.' For they have found a way to evade the Inflation Tax. The rest of us suckers get stuck with the bill." Continue reading →

Continue ReadingThe Tax-Evaders Who Never Make The News

The Detroit (or New American) Yard Sale … Coming to a City Near You

"I can’t help but wonder what America’s auto barons like the Dodges, Firestones and especially Edsel and Eleanor Ford – whose donations and charitable support over the decades has created the cultural gem that is the Detroit Institute of Art – would think of their art being auctioned off to pay government debt. Will Disney one day own Yosemite National Park or Old Faithful? Will Six Flags own Mt. Rushmore? Will hedge funds buy up tracks of national forests and manage them like they would manage other timber assets? Those are legitimate questions, given a federal debt so large it cannot possibly ever be repaid." Continue reading →

Continue ReadingThe Detroit (or New American) Yard Sale … Coming to a City Near You

New York Mayor Bloomberg to appeal ruling that blocked stop-and-frisk policy

"New York Mayor Michael Bloomberg on Monday said he would appeal a federal judge’s ruling that the police department’s 'stop and frisk' crime-fighting tactics violate constitutional rights. Bloomberg remained firm in his argument that the practice drove down the city’s crime rate, saying, 'The possibility of being stopped acts as a vital deterrent.' His administration plans to ask for a stay of the judge’s order until the appeal is heard, officials told a press conference." Continue reading →

Continue ReadingNew York Mayor Bloomberg to appeal ruling that blocked stop-and-frisk policy

Tennessee judge changes baby’s name after ruling it a conflict with her beliefs

"A baby named 'Messiah' must be renamed, according to a judge in Tennessee, because Messiah is a ‘earned’ title in the Judeo-Christian tradition. The mother, Jaleesa Martin of Newport, Tenn., is appealing the decision handed down by Child Support Magistrate Lu Ann Ballew, who renamed the 7-month-old child 'Martin DeShawn McCullough,' after the parents came to her in a dispute over the child’s last name, according to the Tennesseean. The new name includes both parent’s last names but leaves out Messiah, 'which is a title and it’s a title that has only been earned by one person and that one person is Jesus Christ,' Ballew said." Continue reading →

Continue ReadingTennessee judge changes baby’s name after ruling it a conflict with her beliefs

Mob attacks gay couple’s engagement ceremony in Haiti

"A British man and his Haitian partner were attacked by dozens of locals who threw molotov cocktails and rocks at the couple’s private engagement ceremony, police said. Several people were injured, two cars were set ablaze and windows were smashed at the residence where the ceremony took place in Port-au-Prince late Saturday. Police arrived just in time to prevent people being killed, inspector Patrick Rosarion told AFP." Continue reading →

Continue ReadingMob attacks gay couple’s engagement ceremony in Haiti

Vigilante Detroit residents attack suspected rapist after police fail to act

"Residents in southwest Detroit took matters into their own hands after local police delayed prosecution on a suspected rape in their neighborhood. According to the Detroit Free Press, a group of residents twice attacked the unidentified 43-year-old man on Aug. 5, believing him to be responsible for raping a 15-year-old girl who has Down’s Syndrome, leaving him with wounds on his legs and head. No arrests have been made in either attack against the alleged rapist. The campaign against the man began online, with Facebook posts featuring a picture of the man and warnings like, 'The law better find this fool before the streets do.'" Continue reading →

Continue ReadingVigilante Detroit residents attack suspected rapist after police fail to act

Google Bus Hate: Give It a Rest

"Some San Franciscans define themselves by what they oppose. This spring they found a new focus for their outrage: the Google (GOOG) bus. Since 2007 the company has been using big, Wi-Fi-equipped, white-and-black coaches to collect employees around the Bay Area and bring them to the Mountain View Googleplex, 45 minutes south of the city. In early May there was a public protest against them at a Mission District transit stop. More than 20 cops were on hand—roughly a 1:1 ratio with protesters. The high point? Two slackers smashing a Google bus piñata." Continue reading →

Continue ReadingGoogle Bus Hate: Give It a Rest

Judge blocks BART union’s proposed strike in San Francisco through October

"A judge on Sunday blocked a threatened San Francisco-area rail worker strike that could have disabled a critical part of the region’s transportation system serving 400,000 daily passengers. The BART rail system was shut down for 4-1/2 days in July when union workers walked off the job, creating severe roadway congestion and forcing commuters to miss work or crowd onto a limited number of other public transportation options. BART management says the average employee gets an annual salary of $79,500 plus $50,800 in benefits, and it is concerned the cost of benefits will continue to climb after increasing by nearly 200 percent in 10 years." Continue reading →

Continue ReadingJudge blocks BART union’s proposed strike in San Francisco through October