Welfare-Warfare State

The Compulsion To Rule

"A system that insists on controlling others through increasing levels of systematic violence; that loots the many for the aggrandizement of the few; that regulates any expressions of human behavior that are not of service to the rulers; that presumes the power to wage wars against any nation of its choosing, a principle that got a number of men hanged at the Nuremberg trials; and finally, criminalizes those who would speak the truth to its victims, has no moral energy remaining with which to sustain itself. The treatment accorded private Manning may have been the final nail driven into the coffin of the American state." Continue reading →

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Syria strike could bring Raytheon payday

"A U.S. attack on Syria could translate into big bucks for defense giant Raytheon, which makes the Tomahawk cruise missile that’s said to be President Barack Obama’s weapon of choice. Reports that the White House is planning an attack to punish Damascus for the use of chemical weapons sent Raytheon’s stock price to a 52-week high this week — and have reawakened grumblings in Congress that the military doesn’t buy enough Tomahawks. Raytheon has delivered 252 missiles this fiscal year and 361 last fiscal year. And any Tomahawks fired at Syria would almost certainly represent a future increase in orders for the missiles, which can go for about $1 million apiece." Continue reading →

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France will ‘prove’ Syria regime behind chemical attack

"France will hand over evidence to lawmakers on Monday proving President Bashar al-Assad’s regime was behind last month’s chemical weapons attack in Syria, a government source told AFP. 'It will be a set of evidence of different kinds that will allow the regime to be clearly identified as responsible for the August 21 chemical attack,' the source said. Another government source said the evidence would include 'declassified secret documents' and that 'some of them could be made public'. France has become Washington’s main ally in the Syria crisis after the British parliament in a shock move rejected plans for military action mooted by Washington." Continue reading →

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Mark Steyn Correctly Worries about Obama’s Looming Syrian Adventure

"The problem with the American way of war is that, technologically, it can’t lose, but, in every other sense, it can’t win. No one in his right mind wants to get into a tank battle or a naval bombardment with the guys responsible for over 40 percent of the planet’s military expenditures. Which is why these days there aren’t a lot of tank battles. The consummate interventionist Robert Kagan wrote in his recent book that the American military 'remains unmatched.' It’s unmatched in the sense that the only guy in town with a tennis racket isn’t going to be playing a lot of tennis matches." Continue reading →

Continue ReadingMark Steyn Correctly Worries about Obama’s Looming Syrian Adventure

Hollande Undeterred By UK: “France Will Participate. It Is Ready” For Syria

"After France refused to join the US-led invasion of Iraq in 2003, but was quickly aided by the US in the military intervention against Islamist militants in Mali earlier this year, Hollande is vehement of the need to 'punish' Damascus, 'France will participate. It is ready.' Sounds like a resounding 'we're in,' right? It seems Hollande is dead set on lower French unemployment... by making every jobless person a soldier in Syria (packing at least one backup white flag of surrender). But, don't get too excited since, with lukewarm public support, Hollande has said he will summon the French parliament to vote on the debate... on September 4th." Continue reading →

Continue ReadingHollande Undeterred By UK: “France Will Participate. It Is Ready” For Syria

Japan’s debt-funding costs to hit $257 billion next year

"Japan expects to spend a record $257 billion to service its debt during the next fiscal year, a document obtained by Reuters showed, underscoring the huge burden created by the government's borrowings. That will be up 13.7 percent from the amount set aside for the current fiscal year, reflecting the ministry's plan to guard against any future rise in long-term interest rates. Years of fiscal stimulus to revive a stagnant economy and surging social welfare costs for a rapidly ageing population have led to Japan running a record 1,000 trillion yen ($10 trillion) in public debt, double the size of its economy and the biggest among major industrialized nations." Continue reading →

Continue ReadingJapan’s debt-funding costs to hit $257 billion next year

Marc Faber on Gold & Debt

"We have had a meaningful correction in gold. From $1921 in September 2011 to less than $1200 at the bottom is a fairly large correction. But in longer-term bull markets, these kinds of corrections do occur. We had a 40-50% correction in 1987 in equity markets. But the bull market lasted until the year 2000. Looking at the fundamentals, looking at how debt will continue to increase and how central banks will continue their monetization not only in the US but on a worldwide scale, I assume the price of gold will trend higher. Most likely we've seen the lows below $1200. Eventually we will be over $1921. The question is, Will it be this year or in five years? That I don't know." Continue reading →

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PM Volatility Masks Impending Rise In Metals And Miners: Don’t Sell Out

"During the 12-year PM bull market, gold has tracked the increase in the US debt ceiling. The break of the past 15 months closely resembles the 2008 correction in PM prices that occurred even as the debt ceiling got a massive lift, one that the current incumbency has increased. With the national debt nearly $7 trillion above the level of January 1, 2009, PM prices have resumed their secular rise, increasing 18% since the June 26 lows. It resembles the initial rise of PM prices early in 2009. If gold continues to approximate the rise of this debt as it has for twelve years, by 2016, it will hit $3500/oz." Continue reading →

Continue ReadingPM Volatility Masks Impending Rise In Metals And Miners: Don’t Sell Out

The NSA and Its “Compliance Problems”

"For ordinary citizens, 'compliance problems' with the law are better known as 'crimes' (or possibly civil wrongs) and these lead to judgment debts, fines, and possibly even jail time, depending on the severity of the lack-of-compliance. But for government officials such notions are irrelevant — legal compliance problems are just something you file a report about, and send to another bureaucrat higher up in the government chain, so that he can bury it on his desk. Unfortunately, this is not a new phenomenon. The notion of the rule of law is the wellspring of an endless stream of hypocrisy in the modern social-democratic welfare-warfare state." Continue reading →

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Iraq war killed 120,000 and cost $800 billion, study estimates

"At least 116,000 Iraqi civilians and more than 4,800 coalition troops died in Iraq between the outbreak of war in 2003 and the US withdrawal in 2011, researchers estimate. Its involvement in Iraq has so far cost the United States $810 billion (625 billion euros) and could eventually reach $3 trillion, they added. 'More than 31,000 US military personnel were injured and a substantial percentage of those deployed suffered post-traumatic stress disorder, traumatic brain injury, and other neuropsychological disorders and their concomitant psychosocial problems.'" Continue reading →

Continue ReadingIraq war killed 120,000 and cost $800 billion, study estimates