statism

Why the Higher Education System Is Unsustainable (i.e. Doomed)

"That which is unaffordable is unsustainable and will go away. The current system of higher education is profoundly unaffordable: it exists on an immoral foundation of student debt--$560 billion of which is Federal. Enormous expansions of student debt are required to keep the current system of higher education afloat. This chart shows the insane trajectory of Federal student debt. But unaffordability is only one reason why the present system of higher education is unsustainable. Despite the good intentions and hard work of individuals, these systems are broken. Due to their size and structure, large systems such as national defense, healthcare and education limit the impact of individual initiative." Continue reading →

Continue ReadingWhy the Higher Education System Is Unsustainable (i.e. Doomed)

More Bad News for Low Wage Workers

"Soon American companies will have to disclose how their chief executive's paycheck compares with that of their average worker under a proposal unveiled by the SEC, reports The Guardian. If I am the CEO of a publicly traded company, I am going to do every thing I can to keep the ratio, between what I earn and my workers, as close as possible. This may mean shutting down operations that include many low wage workers. It may also mean automating jobs now performed by low wage workers. Low wage workers will become pariahs to be avoided at all costs by publicly traded companies. With less demand for low wage workers, their wages will decline." Continue reading →

Continue ReadingMore Bad News for Low Wage Workers

Monetary Authority of Singapore warns on ‘unregulated’ bitcoin

"The Monetary Authority of Singapore (MAS) is cautioning consumers against bitcoin trading even as a few merchants in Singapore have started accepting the digital currency as payment for physical goods. Invented in 2009, bitcoin is the world's most well-known digital currency. It is not issued or managed by a single company or monetary authority. Bitcoins can be bought through online exchanges that convert real money into the virtual currency. Due to its anonymous nature, bitcoin trading was declared illegal in Thailand in July over money laundering concerns. An MAS spokesman told The Straits Times that consumers should be wary of such trading." Continue reading →

Continue ReadingMonetary Authority of Singapore warns on ‘unregulated’ bitcoin

Swiss socialist politician asks government to create report on bitcoin

"Jean Cristophe Schwaab of the Swiss Socialist Party said he is concerned about the potential of bitcoin. 'At the moment, I have no idea, but a Swiss journalist recently bought drugs from Silk Road using bitcoins, so I think the state needs to make an intervention,' he added. The 34-year-old said bitcoin came to his attention because he has a strong interest in internet policy, data protection and new online trends. He has also come across bitcoin in his work as a unionist for bankers – he is on the executive board of the Swiss Bank Employees’ Association. He said the only people in Switzerland who know about bitcoin are 'geeks, criminals and special police units'." Continue reading →

Continue ReadingSwiss socialist politician asks government to create report on bitcoin

Canadian Mint ready to test its own digital money project

"MintChip is 'the future of money,' according to the Mint’s promotional video, which goes on to present it as a digital version that would be legal tender, just like physical dollars and cents. You would hold it on a smartphone or other electronic device, just like a wallet. And according to the Mint’s Mr. Brûlé, the money could be used just as easily whether you’re shopping at a conventional bricks-and-mortar retailer, on-line or at your neighbour’s garage sale, though your neighbour would of course need a properly equipped smartphone. Mr. Brûlé sees it as part of the leading edge of a tsunami in mobile technology that is now washing over our society." Continue reading →

Continue ReadingCanadian Mint ready to test its own digital money project

Google, Facebook and Yahoo push 21 nations for surveillance data

"The Global Network Initiative, which includes Google, Facebook, Yahoo and Microsoft, asked the countries to 'report on the requests they make for electronic communications surveillance and to make it legally possible for companies to report regularly to the public on the government requests that they receive from law enforcement as well as national security authorities.' Letters were sent to senior government officials responsible for foreign affairs, justice, and security, with copies to data protection authorities, the group said. Copies were sent to representatives at the United Nations offices in Geneva, in advance of discussions on human rights and communications surveillance." Continue reading →

Continue ReadingGoogle, Facebook and Yahoo push 21 nations for surveillance data
Read more about the article Journalism professor says he hopes for murder of NRA members’ children

Journalism professor says he hopes for murder of NRA members’ children

"A journalism professor at the University of Kansas (KU) turned to Twitter on Monday to suggest he would like to see the murder of children of National Rifle Association (NRA) members at the hands of a deranged gunman. A journalism professor has defended tweets he sent out which called for the death of NRA employees children. '#NavyYardShooting The blood is on the hands of the #NRA,' tweeted David Guth, who is an associate professor of Journalism at the university’s William Allen White School of Journalism. 'Next time, let it be YOUR sons and daughters, he continued. “Shame on you. May God damn you.'" Continue reading →

Continue ReadingJournalism professor says he hopes for murder of NRA members’ children

Rand Paul: ‘I Ask That We Begin The End Of Mandatory Minimum Sentencing’

"Paul mentioned other examples of draconian mandatory minimums, including the 55-year sentence that Weldon Angelos, a 24-year-old Utah music entrepreneur, received for a few small pot sales. Brett Tolman, a former U.S. attorney for Utah, noted that the DEA could have busted Angelos after the first undercover buy but waited for two more, knowing that Angelos’ possession of a gun would trigger stacked sentences adding up to more than half a century. Paul also cited Edward Clay, an 18-year-old first-time offender who got 10 years after he was caught with less than two ounces of cocaine, and John Horner, a 46-year-old father of three who got a 25-year mandatory minimum." Continue reading →

Continue ReadingRand Paul: ‘I Ask That We Begin The End Of Mandatory Minimum Sentencing’

Minimum Wage Madness

"Switzerland is one of the few modern nations without a minimum wage law. In 2003, 'The Economist' magazine reported: 'Switzerland’s unemployment neared a five-year high of 3.9 percent in February.' In February of this year, Switzerland’s unemployment rate was 3.1 percent. A recent issue of 'The Economist' showed Switzerland’s unemployment rate as 2.1 percent. Most Americans today have never seen unemployment rates that low. However, there was a time when there was no federal minimum wage law in the United States. The last time was during the Coolidge administration, when the annual unemployment rate got as low as 1.8 percent." Continue reading →

Continue ReadingMinimum Wage Madness

Rep holds up vodka and steak on House floor to shame food stamp opponents

"Rep. Jackie Speier (D-CA) on Thursday held up steak, vodka and caviar during her House floor speech in an effort to shame Republicans who want to slash $40 billion from the food stamp budget, while they continue to go on 'lavish' trips financed by taxpayers and other groups. Earlier this month, House Republicans introduced a bill that caved to conservative members and doubled the amount of cuts the party was proposing to the Supplemental Nutrition Assistance Program. 'They dine at lavish restaurants, eating steak, vodka and even caviar,' she added, showing food props to members of the House. 'They receive money to do this. That’s right, they don’t pay out of pocket for these meals.'" Continue reading →

Continue ReadingRep holds up vodka and steak on House floor to shame food stamp opponents