What Could Possibly Go Wrong

US poverty rate steady at 15 percent, but ‘lower class’ is booming

"The share of those who identify themselves as 'lower class' – at 8.4 percent – now stands at its highest level in four decades, according to separate data released this week from the long-running General Social Survey (GSS). Just as surprising, the share of college graduates who describe themselves as lower class has jumped from 2.6 percent in 2002 to 5.8 percent in 2012. According to the GSS, only 55 percent of Americans these days believe things will get better for themselves and their kids – a rather paltry number for a country built on the notion that everyone has an equal chance to get ahead." Continue reading →

Continue ReadingUS poverty rate steady at 15 percent, but ‘lower class’ is booming

Government-Run Bridges: Guaranteed Erosion

"Many fracture critical bridges were erected in the 1950s to 1970s during construction of the interstate highway system because they were relatively cheap and easy to build. Now they have exceeded their designed life expectancy but are still carrying traffic — often more cars and trucks than they were originally expected to handle. The Interstate 5 bridge in Washington state that collapsed in May was fracture critical. Cities and states would like to replace the aging and vulnerable bridges, but few have the money; nationally, it is a multi-billion-dollar problem. As a result, highway engineers are juggling repairs and retrofits in an effort to stay ahead of the deterioration." Continue reading →

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What Do the Latest NSA Leaks Mean for Bitcoin?

"Could the intelligence community have a secret exploit for Bitcoin? It's rather obvious that Bitcoin presents a very strong financial incentive to break its cryptography, since such a vulnerability could allow an attacker to claim large amounts of virtual currency for themselves. But given the decentralized nature of the currency, it may also be a target for intelligence officials looking for ways to track its use. Clearly, Bitcoin is on the government's radar. Knowing how much effort the NSA, amongst others, has placed on cracking encryption, has it tackled Bitcoin too? First, we need to look at how Bitcoin works." Continue reading →

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World’s Largest Bitcoin Exchange Out $10 Million

"Mt. Gox, the Japanese-run online trading floor that had $5 million seized by federal agents earlier this year, says that it’s out another $5.3 million. At the end of February, Mt. Gox chose CoinLab as its North American agent. The idea was that customers in the U.S. and Canada would be able to use CoinLab as a gateway to the Mt. Gox exchange. But the relationship didn’t last long. By April, it had devolved into a messy $75 million lawsuit. According to Mt. Gox, its customers deposited about $12,800,000 into CoinLab bank accounts, and while CoinLab has handed over most of that money, it’s still sitting on $5.3 million." Continue reading →

Continue ReadingWorld’s Largest Bitcoin Exchange Out $10 Million

Obama quietly extends post-9/11 state of national emergency

"Twelve years after the worst terrorist attack in American history, President Obama yet again extended his predecessor’s Declaration of National Emergency for another year. The declaration, which was originally put into place on September 14, 2001, was renewed on Tuesday. Shortly after he renewed the declaration of a national emergency, President Obama obliquely hinted at the gradual accumulation of executive power in his speech on the Syria crisis. The past decade, he said, 'put more and more war-making power in the hands of the president.'" Continue reading →

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Police Bullets Hit Bystanders, and Questions Rise Yet Again

"The shooting on Saturday was the first time bystanders had been hit in 2013, the police said. During the same period in 2012, 13 bystanders were wounded, including 9 in the shooting near the Empire State Building. The same rules governing officers’ use of weapons apply to all settings, including densely crowded streets or inside buildings, policing experts said. 'Just because you’re in Times Square doesn’t mean you can’t use deadly physical force if you believe that it’s necessary,' said John C. Cerar, a retired deputy inspector who was the commander of the Police Department’s firearms training. 'But you have to believe that it’s really necessary.'" Continue reading →

Continue ReadingPolice Bullets Hit Bystanders, and Questions Rise Yet Again

First Syria rebels armed and trained by CIA ‘on way to battlefield’

"The first cell of Syrian rebels trained and armed by the CIA is making its way to the battlefield, President Barack Obama has reportedly told senators. During a meeting at the White House, the president assured Senator John McCain that after months of delay the US was meeting its commitment to back moderate elements of the opposition. Mr Obama said that a 50-man cell, believed to have been trained by US special forces in Jordan, was making its way across the border into Syria, according to the New York Times. The deployment of the rebel unit seems to be the first tangible measure of support since Mr Obama announced in June that the US would begin providing the opposition with small arms." Continue reading →

Continue ReadingFirst Syria rebels armed and trained by CIA ‘on way to battlefield’

Obama waives anti-terrorism provisions to arm Syrian rebels

"The Obama administration waived provisions of a federal law which ban the supply of weapons and money to terrorists. The move is opening doors to supplying Syrian opposition with protection from chemical weapons. The Arms Export Control Act (AECA) allows the US president to waive provisions in Sections 40 and 40A, which forbid providing munitions, credit and licenses to countries supporting acts of terrorism. But those prohibitions can be waived 'if the President determines that the transaction is essential to the national security interests of the United States.'" Continue reading →

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Is It Time to Feel Sorry for the President and other Obamacare Supporters?

"It must not be fun having to explain to people that their private financial and medical information will now be in the hands of some of the least competent people in America. Or imagine what it must be like when some of your biggest allies start complaining about the law. Such as union bosses. Or government bureaucrats. And what about stories about cost overruns. And how about all the bad news about limited choice in the infamous Obamacare exchanges. Or rising insurance costs. Our privacy will be compromised, our choices will be limited, our costs will increase, and the government will squander more of our money. All for a law that even left-wing groups are learning to despise." Continue reading →

Continue ReadingIs It Time to Feel Sorry for the President and other Obamacare Supporters?

The Left’s New Attack on Self Insurance: Obamacare Sleaze?

"It starts with a brief description of the ERISA law that allows self insurance – including the fact that those who self insure escape the costly and corrupt state-level mandates that cause regular insurance policies to be needlessly expensive. While ERISA traditionally was something that only big firms could utilize, many small employers are now looking at self insurance as a way of providing health insurance to their employees without getting dragged into the costly swamp of Obamacare. Needless to say, the left is unhappy about this development because Obamacare only 'works' if a large amount of people are forced to join the infamous exchanges." Continue reading →

Continue ReadingThe Left’s New Attack on Self Insurance: Obamacare Sleaze?