What Could Possibly Go Wrong

A complete U.S. withdrawal from Afghanistan in 2014? Don’t count on it

"A US envoy on Tuesday dismissed suggestions that Washington would withdraw all troops from Afghanistan after next year, saying that both countries wanted to preserve a smaller force. Aides to US President Barack Obama earlier this year openly mulled the so-called 'zero option' of a complete withdrawal from Afghanistan once US troops end their combat role in 2014. 'We talk about the zero option — that’s not an option for the United States,' said James Dobbins, the US special envoy for Afghanistan and Pakistan. Dobbins said he expected 'several thousand American forces and several thousand non-American NATO forces' in 2015 and beyond." Continue reading →

Continue ReadingA complete U.S. withdrawal from Afghanistan in 2014? Don’t count on it

Rand Paul Issues ‘Dear Colleague’ Letter Opposing Syrian Intervention

"In 1995, Colin Powell wrote, 'War should be the politics of last resort. And when we go to war, we should have a purpose our people understand and support.' I do not believe Syria passes that test. I treat the question of war as if it would determine the fate of my son or daughter. War is not some geopolitical chess game. It is, at best, a necessary evil. It should never be the first option. It should occur only when America is attacked or threatened, or when American interests are attacked or threatened. And only when all other options have been played out. Too often, the debate begins and ends with an assertion that our national interest is at stake, but no evidence is ever presented." Continue reading →

Continue ReadingRand Paul Issues ‘Dear Colleague’ Letter Opposing Syrian Intervention

Map: All the Countries John McCain Has Wanted to Attack

"Even before he was caught playing poker on his iPhone at a Senate hearing on Wednesday, Sen. John McCain (R-Ariz.) had already sent a message: Anything less than an extensive aerial assault on the Syrian regime by American forces would be an unacceptable approach to the conflict in the Middle East. This was hardly surprising. Over the last two decades, McCain has rarely missed an opportunity to call for the escalation of an international conflict. Since the mid-1990s, he's pushed for regime change in more than a half-dozen countries—occasionally with disastrous consequences." Continue reading →

Continue ReadingMap: All the Countries John McCain Has Wanted to Attack

CDC calls rising E-cigarette among teens ‘deeply troubling’

"Some 1.78 million US middle and high school students — around 11 to 18 years old — smoked so-called e-cigarettes in 2012, the Centers for Disease Control and Prevention (CDC) said in a new study. CDC smoking and health office director Tim McAfee noted that 'about 90 percent of all smokers begin smoking as teenagers.' 'We must keep our youth from experimenting or using any tobacco product.' The US government is due to announce in October its plans for regulating electronic cigarettes. For the moment, the laws are different according to each state, though a number of them have already forbidden their sale to minors." Continue reading →

Continue ReadingCDC calls rising E-cigarette among teens ‘deeply troubling’

Plainclothes deputy in unmarked car pulls gun; 5 officers attack and tase brothers

"The use of Tasers against two brothers in Algiers last year by Jefferson Parish deputies – a confrontation partially caught on a cell phone video – is now the subject of a federal civil rights lawsuit. Casey and Sean Warren filed the suit last week against Sheriff Newell Normand and seven deputies in connection with the Sept. 9 police stop that resulted in both men being hit with Tasers multiple times. In the lawsuit, the brothers claim they were victims of a host of civil rights violations, including excessive force, unlawful arrest and improper seizure. The lawsuit also notes that the deputies were outside of their jurisdiction when they followed Casey Warren to his home in Algiers." Continue reading →

Continue ReadingPlainclothes deputy in unmarked car pulls gun; 5 officers attack and tase brothers

Slovenia Liquidates, Backstops Two Banks to Stave Off Cyprus Fate

"Slovenia liquidated two of its smaller banks, Probanka d.d. and Factor Banka d.d., in a move described by Central Bank Governor Bostjan Jazbec as a preemptive action to avoid the fate of Cyprus. The cost of liquidation of Probanka and Factor Banka will be borne first by owners, followed by holders of subordinated debt, Finance Minister Uros Cufer said at the joint press conference with Jazbec yesterday. Even so, Slovenia will issue state guarantees of 490 million euros for Probanka and 540 million euros for Factor Banka 'that will ensure an unhindered liquidity and normal fulfillment of obligations of both banks to ordinary creditors,' Banka Slovenije said in an e-mailed statement." Continue reading →

Continue ReadingSlovenia Liquidates, Backstops Two Banks to Stave Off Cyprus Fate

Rebalance To Buffer Crises?

"Sovereigns may save themselves at the expense of citizens. Poland has withdrawn $37 billion in government holdings from national pension funds to pay down sovereign debt. Its markets dropped 4.8% the day the news hit. Given relative GDP size, a similar take here would be north of $1 trillion and laws have been prepared to bail-in major banks. Many cities already are bankrupt and pension funds are at risk as pensioneers and bond holders battle over the remains. Those who buy the official narrative are riding in a ticker-tape parade on which Central Banks are showering confetti. When the dreamers awake, they will be looking at a demonic jack-o-lantern." Continue reading →

Continue ReadingRebalance To Buffer Crises?

The feds pay for 60 percent of Tor’s development. Can users trust it?

"The NSA’s sustained attempt to get around encryption calls into question many of the technologies people have come to rely on to avoid surveillance. One indispensable tool is Tor, the anonymizing service that takes a user’s Internet traffic and spits it out from some other place on the Web so that its origin is obscured. So far there’s no hard evidence that the government has compromised the anonymity of Tor traffic. But some on a Tor-related e-mail list recently pointed out that a substantial chunk of the Tor Project’s 2012 operating budget came from the Department of Defense, which houses the NSA." Continue reading →

Continue ReadingThe feds pay for 60 percent of Tor’s development. Can users trust it?

Blackstone rental bonds revive fears of mortgage-backed crisis

"The private-equity firm Blackstone and Deutsche Bank are considering selling the first bonds backed by home-rental payments. The new security shows Wall Street financial engineering, blamed for deepening the financial crisis, has become more creative. Blackstone is among the firms that have spent billions buying homes out of foreclosure, helping to bolster demand and strengthen the US housing market, the WSJ reports. The private-equity giant has spent $5.5bn buying more than 30,000 houses to rent out. It is now working with Deutsche Bank to create securities tied to about 1,500 of the properties to form a rental bond deal worth up to $275 million." Continue reading →

Continue ReadingBlackstone rental bonds revive fears of mortgage-backed crisis

Bill Bonner: A Personal Appeal to Barack Obama

"We don’t share the common fantasy of central bankers: that they can know better than the market what interest rate, employment rate and inflation rate the country should have. We mention the three because the Fed sets short-term interest rates through its conventional monetary policy. And it tries to keep a lid on long-term Treasury yields through its 'unconventional' QE programs. And it does so, it claims, to adjust two other important rates: employment and inflation. Every candidate for the top post at the Fed – except us – believes it is his right and duty to do these things. Which means none should be allowed anywhere near the Fed." Continue reading →

Continue ReadingBill Bonner: A Personal Appeal to Barack Obama