Welfare-Warfare State

Why Should Taxpayers Give Big Banks $83 Billion a Year?

"Banks have a powerful incentive to get big and unwieldy. The larger they are, the more disastrous their failure would be and the more certain they can be of a government bailout in an emergency. The result is an implicit subsidy: The banks that are potentially the most dangerous can borrow at lower rates, because creditors perceive them as too big to fail. Economists have tried to pin down exactly how much the subsidy lowers big banks’ borrowing costs. In one relatively thorough effort, researchers put the number at about 0.8%. Multiplied by the total liabilities of the 10 largest U.S. banks by assets, it amounts to a taxpayer subsidy of $83 billion a year." Continue reading →

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Raisons d’État: Justifying Assassination and Murder of American Citizens

"From Niccolo Machiavelli and Cardinal Richelieu to George W. Bush and Barack Obama, survival of the state has been the highest priority of political authority. Any means necessary regardless of morality or legality is sanctioned for reasons of state (raisons d'État). In statecraft, the ends justify the means. I suspect that many of these craven individuals (of both parties) will soon be marching in lock-step unison in shouting their support of an earlier assassination of an American citizen by the top tier of the National Security establishment fifty years ago who was seen as a traitor to his nation during the height of the Cold War." Continue reading →

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Another ‘War is Peace’ Award (This Time Hollande Wins!)

"In this case it may be more appropriate than one might first imagine. The prize, awarded by UNESCO, is known as the Félix Houphouët-Boigny Peace Prize in honor of the authoritarian president of of the Ivory Coast from 1960-1993. Could it be, as suggested in this very provocative article in the journal of the Strategic Culture Foundation, that France was over-eager to show its new Rafale fighter jets in action in hopes of scoring the "deal of the century" -- a $12 billion sale of these thus far tepidly received fighters to India?" Continue reading →

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France freezes spending to hit EU targets as slump deepens

"France is to freeze spending on defence, higher education and research in a frantic bid to meet European Union deficit targets this year, tightening fiscal policy yet further as the country slides into deep slump. The severity of the downturn has caught officials by surprise. Markit’s survey data for French manufacturing and services fell to 42.3 in February, plunging at the fastest rate since the financial crisis in early 2009. Anything less than 50 signals contraction. Markit warned that the country may be tipping into a 'downward spiral' as sliding confidence causes businesses to delay spending." Continue reading →

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10 things the FBI won’t fire you for

"A year-in-review email recently circulated to employees at the Federal Bureau of Investigation (FBI) that leaked online this week (PDF) reveals a series of disciplinary actions taken against agents during 2012. While some of the agents’ transgressions were entertaining for how out-of-line they got, it’s also particularly interesting to highlight what the bureau does and does not consider a fireable offense. While things like committing check fraud, spying on a supervisor and purchasing child pornography absolutely did trigger terminations in 2012, here are 10 other things the FBI apparently will not fire you for." Continue reading →

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16 Ways to Cut Defense Spending

"Admiral Mike Mullen, former chairman of the Joint Chiefs of Staff, said that 'the greatest threat to our national security is our debt.' Senator Coburn said on 'Morning Joe' on Feb 13 that '$100 billion could be cut.' Ron Paul says that only about half the defense budget is for defense, the other half is for militarism abroad. So here are 16 ways to cut its waste, fraud, and abuse of American taxpayers. They don’t include the largest benefit of all: the value many of the highly skilled and motivated men and women in the military could bring to the civilian workforce. The mostly wasted talent pool is incredible. All American strategy should be re-examined." Continue reading →

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The Pentagon Throws a Fit and Sticks Out its Tongue

"Even if the so-called sequestration takes place, the Pentagon will still get more money than they did in 2012! In other words, Panetta is playing sore loser because rather than getting X more dollars than last year, he is getting Y more dollars. To drive home my point, he is threatening a furlough even though he has more money in his budget in 2013 than the immediate previous year. What a loon. To the Pentagon’s melodramatic protests, I say this: '800,000 people furloughed? Awesome. That is a great first step. Just fire them. Bring all the troops home. End the wars. Follow the Constitution.'" Continue reading →

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F-35 Stealth Fighter Is Too Heavy and Slow, So the Pentagon Made Its Performance Tests Easier

"The Pentagon's pursuit of the Lockheed Martin F-35 stealth fighter jet has been a heartbreaking one. If you're a taxpayer, the program's estimated $1 trillion price tag probably breaks your heart a little bit. If you're an aviation enthusiast, the constant whittling away of the do-it-all aircraft's features, which in many cases actually amounts to adding weight and taking away maneuverability, must hurt a little bit too. If you're just an everyday American, though, you should be downright shattered that after a decade and a fortune spent, the F-35 will actually be more vulnerable than the aircraft it's replacing." Continue reading →

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Surprise, Surprise, Obamacare Includes a Massive Sales Tax on Your Healthcare Insurance

"As Carlyle Group founder and war profiteer David Rubinstein once told me about some legislation, 'The devil is in the details.' Maybe this is what Nancy Pelosi meant, when she said that Obamacare needs to be passed so that we can find out what is in it." Continue reading →

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Post Office to release fashion line

"You may not be able to get a letter from the U.S. Postal Service on Saturdays, but you will be able to get fashionable new apparel. The cash-strapped post office plans to release a 'Rain Heat & Snow' clothing and accessory line. CNN reported that the Postal Service is teaming up with Cleveland-based Wahconah Group, which will design the clothing and accessories. The Rain Heat & Snow line should have something available for men by spring 2014, CNN said. A women's line also is being planned. CNN said the fashion line will be sold in department and specialty stores." Continue reading →

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