statism

Hungary bars foreigners from buying farmland

"Hungary has amended its constitution to bar foreigners from buying farmland, a move the government called 'historic,' but one that could cause friction with the European Union. Hungarian lawmakers on December 17 voted by a large majority to amend the constitution to bar foreigners from buying Hungarian farmland. The vote was a 'historic decision' and the 'beginning of a new era for agriculture,' it continued. The government says farmland needs to be protected from speculators and bankers looking to score bargains at the expense of farmers." Continue reading →

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How LA Regulated A Burger Stand Out of Existence

"Located on the corner of Figueroa and 101st Street in South Central Los Angeles, Tam's Burgers has been a part of the neighborhood for almost thirty years. Nick Benetatos took over the restaurant in the late '80s after his father retired. Tam's has withstood multiple recessions and even the 1992 LA riots. The city's zoning board has now ordered him to comply with 22 separate conditions, such as hiring a full-time security guard, fencing in the entire property and installing a security camera that links directly to LAPD's electronic surveillance system. Benetatos says that the cost of compliance would put him out of business." Continue reading →

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The Military-Industrial Complex, Neocons and General Patraeus

"Frederick and Kimberly Kagan, a husband-and-wife team of hawkish military analysts, put their jobs at influential Washington think tanks on hold for almost a year to work for Gen. David H. Petraeus when he was the top U.S. commander in Afghanistan. The pro-bono relationship, which is now being scrutinized by military lawyers, yielded valuable benefits. The Kagans’ proximity to Petraeus provided an incentive for defense contractors to contribute to Kim Kagan’s think tank. For Petraeus, embracing two respected national security analysts in GOP circles helped to shore up support for the war among Republican leaders on Capitol Hill." Continue reading →

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U.S. House approves sweeping $633 billion defense spending bill

"The US House passed a $633 billion defense authorization bill that includes fresh sanctions against Iran and funds the war in Afghanistan. In addition to covering standard national security expenses, it also provides a 1.7-percent pay raise for the military, authorizes the Pentagon to pay for abortions in cases of rape and incest and lifts a ban on same-sex marriage ceremonies on military bases. The legislation, which passed 315-107, ended an indefinite restriction on the transfer of Guantanamo detainees to the United States or other countries, instead extending the current restrictions by one year." Continue reading →

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Bank of America supplied answers on ‘independent’ foreclosure review

"The Independent Foreclosure Review is the government’s main effort to compensate homeowners for harm they suffered at the hands of banks - and, as its name indicates, it’s supposed to be independent. But until recently, that was hardly the case with Bank of America. Supposedly independent, third-party reviewers would sit at a computer, analyzing each homeowner’s case. But the reviewers weren’t starting from a blank slate. Bank of America employees had already supplied the answers, which the reviewers would have to override if they did not agree." Continue reading →

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Doug Casey on the Fiscal Cliff

"Stimulated, or let's say 'simulated' – signs of recovery aren't needed if people have savings, accumulated capital, that can be deployed. Instead, today they mostly have debt. Government stimulation won't work if capital doesn't exist or is punished for being used. If you've destroyed people's jobs, taxed them more for investing wisely, piled on so many regulations that you can't sell lemonade without decades of permitting and clinical trials, all the stimulus in the world won't create a vibrant economy." Continue reading →

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Why Milk Prices Could More Than Double After January 1

"Come Jan. 1, there is a threat that milk prices could rise to $6 to $8 a gallon if Congress does not pass a new farm bill that amends farm policy dating back to the Truman presidency. Without last-minute Congressional action, the government would have to follow an antiquated 1949 farm law that would force the government to buy milk at wildly inflated prices, creating higher prices in the dairy case. Milk now costs an average of $3.65 a gallon. Higher prices would be based on what dairy farm production costs were in 1949, when milk production was almost all done by hand." Continue reading →

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China arrests nearly 1,000 doomsday ‘cult’ members of ‘Almighty God’

"The Christian-inspired group 'Almighty God' has been accused of spreading doomsday rumours apparently linked to the ancient Mayan Long Count calendar and urging followers to slay the 'red dragon' of communism, state media reports said. Close to 1,000 followers of the sect, which state-run media labels an 'evil cult' – the same description it applies to the banned Falun Gong group – have been held in a nationwide crackdown that began last week, state-run CCTV reported." Continue reading →

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UBS Libor-fixing fine may reach $1.5 billion

"Swiss banking giant UBS may be slapped with a combined fine of $1.5 billion (1.1 billion euros) to settle allegations that it manipulated Libor interest rates, the Financial Times reported Tuesday. Around three dozen bankers and senior managers will be implicated, and according to the terms of the deal, the Swiss bank’s Japanese subsidiary will plead guilty to a US criminal offence, the paper said. If the Financial Times report is correct, the Swiss bank would be hit with one of the biggest fines ever imposed on a financial institution." Continue reading →

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Could 2 platinum coins solve debt crisis?

"If President Obama wants to avoid an economic calamity next year, he could always show up at a news conference bearing two shiny platinum coins, each worth ... $1 trillion. That sounds wacky, but some economists and legal scholars have suggested that the 'platinum coin option' is one way to defuse a debt ceiling crisis. Under this scenario, the U.S. Mint would make a pair of trillion-dollar platinum coins. The president orders the coins to be deposited at the Federal Reserve. The Fed moves this money into Treasury's accounts. And just like that, Treasury suddenly has an extra $2 trillion to pay off its obligations for the next two years." Continue reading →

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