I don’t think anarchy would result in a takeover by the Mafia, but nevertheless.
Monthly Archives: November 2011
Minn. town to replace police with private security force
The central Minnesota town of Foley tried having its own police department and contracting with the county sheriff’s department for law enforcement.
Now, in an effort to save money, the city with a population of 2,600 is making a controversial move few others have done: Starting in January, it plans to employ a private security company to patrol its streets.
Foley is believed to be the first town in Minnesota to replace its police force with private guards, according to the Minnesota attorney general’s office.
(Read more)
For the record, here is some polling data for the 2012 Republican Primary
I’m recording this to demonstrate the void between polls and reality which will likely become apparent once elections begin. Remember how Rudy “9/11” Giuliani led every major poll until elections began?
Council on Foreign Relations: ‘Free-Markets Need Our Help’
That isn’t a headline from the left-leaning Huffington Post, or a comment on Glenn Beck’s right-wing populist blackboard. It is, instead, the conclusion of a rigorous analysis bearing the imprimatur of the U.S. establishment: the paper’s lead author is Michael Spence, recipient of the Nobel Prize in economic sciences, and it was published by the Council on Foreign Relations. – Reuters Blog/ Chrystia Freeland
Dominant Social Theme: It’s official. Free markets don’t work very well. Or maybe they work too well. In any case, they need help.
Free-Market Analysis: This thoughtful article that Chrystia Freeland has written for her Reuters’ blog presents the conclusions that capitalism is not lifting all boats equally; or, to mix metaphors, technology is proving to be a two-edged sword. Productivity has risen but middle class wages and opportunity have not kept pace.
The conclusion is not hers alone but that of Michael Spence and co-author, Sandile Hlatshwayo. In her blog-article published a few days ago, Freeland reports on their scholarly paper examining the past 20 years of corporate and economic history. In this article, we’ll examine Freeland’s analysis to try to show how once more how arguments developed in a certain manner inevitably lead to certain conclusions.
As she is a mainstream business reporter, we are not surprised that Freeland comes to the conclusions she does, but it is instructive to follow the logic. What we end up with is a situation where the arguments have been framed in a certain way to develop a certain result. For anyone interested in thinking beyond this format, understanding how this occurs is critical.
Freeland doesn’t come right out and say it, but if technology is leading to increasing middle class difficulties, then some extracurricular force will have to be brought into play to rectify the situation. This is one of the oldest and hoariest dominant social themes of the power elite: Market failures demand government relief. It is elaborated on many ways round the world every day. (Read more)
German Bond Sale Spurs Worries
The German government was able to sell only €3.644 billion ($4.92 billion) of the €6 billion in 10-year bunds on auction for an average yield of 1.98%. (Read more)
Rep. Ron Paul: I Would Not Aid Israel In Military Action Against Iran
Man catches 881-pound tuna, seized by feds
A Massachusetts fisherman pulled in an 881-pound tuna this week only to have the federal authorities take it away. It sounds like a libertarian twist on the classic novella by Ernest Hemingway, The Old Man and the Sea, but for Carlos Rafael, the saga is completely true.
Rafael and his crew were using nets to catch bottom-dwellers when they inadvertently snagged the giant tuna. However, federal fishery enforcement agents took control of the behemoth when the boat returned to port. The reason for the seizure was procedural: While Rafael had tuna permits, fishermen are by law only allowed to catch tuna with a rod and reel.
. . . .
In an interview with the Standard-Times of New Bedford, Rafael disputes the claims from the National Oceanic and Atmospheric Administration’s (NOAA) enforcement division that the humungous tuna was trawled from the bottom of the Atlantic. “They didn’t catch that fish on the bottom,” he said. “They probably got it in the mid-water when they were setting out and it just got corralled in the net. That only happens once in a blue moon.”
And while Rafael is denied the mother of all fish stories, the federal impoundment of his catch also means he’s probably losing out on a giant payday. A 754-pound tuna recently sold for nearly $396,000. NOAA regulators do not share any of the proceeds from the fish’s eventual sale with a fisherman found in violation of federal rules.
“They said it had to be caught with rod and reel,” a frustrated Rafael said. “We didn’t try to hide anything. We did everything by the book. Nobody ever told me we couldn’t catch it with a net.” (Read more)
The Last Time the U.S. National Debt Decreased: 1957
Happy Thanksgiving!
This year, I feel thankful for having discovered the Austrian School of Economics and the true meaning of liberty.
It frees me from thinking, for example, that the national debt,
$15,051,852,998,637.98 as of November 23, 2011
is my fault or my problem. It is not. It is the fault of psychopathic politicians and the problem of the millions of people who’ve become depended on their handouts and their brutality.
It is only my problem to the extent that our politicians will try to steal as much as they can from me to delay the consequences of their irresponsibility.
Knowing the rules of the game feels empowering. I can proceed honestly and without delusion. I can make more honest calculations about risk and reward.
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Historical Debt Outstanding – Annual 1950 – 1999
The first fiscal year for the U.S. Government started Jan. 1, 1789. Congress changed the beginning of the fiscal year from Jan. 1 to Jul. 1 in 1842, and finally from Jul. 1 to Oct. 1 in 1977 where it remains today.
To find more historical information, visit The Public Debt Historical Information archives.
09/30/1999 5,656,270,901,615.43
09/30/1998 5,526,193,008,897.62
09/30/1997 5,413,146,011,397.34
09/30/1996 5,224,810,939,135.73
09/29/1995 4,973,982,900,709.39
09/30/1994 4,692,749,910,013.32
09/30/1993 4,411,488,883,139.38
09/30/1992 4,064,620,655,521.66
09/30/1991 3,665,303,351,697.03
09/28/1990 3,233,313,451,777.25
09/29/1989 2,857,430,960,187.32
09/30/1988 2,602,337,712,041.16
09/30/1987 2,350,276,890,953.00
09/30/1986 2,125,302,616,658.42
09/30/1985 * 1,823,103,000,000.00
09/30/1984 * 1,572,266,000,000.00
09/30/1983 * 1,377,210,000,000.00
09/30/1982 * 1,142,034,000,000.00
09/30/1981 * 997,855,000,000.00
09/30/1980 * 907,701,000,000.00
09/30/1979 * 826,519,000,000.00
09/30/1978 * 771,544,000,000.00
09/30/1977 * 698,840,000,000.00
06/30/1976 * 620,433,000,000.00
06/30/1975 * 533,189,000,000.00
06/30/1974 475,059,815,731.55
06/30/1973 458,141,605,312.09
06/30/1972 427,260,460,940.50
06/30/1971 398,129,744,455.54
06/30/1970 370,918,706,949.93
06/30/1969 353,720,253,841.41
06/30/1968 347,578,406,425.88
06/30/1967 326,220,937,794.54
06/30/1966 319,907,087,795.48
06/30/1965 317,273,898,983.64
06/30/1964 311,712,899,257.30
06/30/1963 305,859,632,996.41
06/30/1962 298,200,822,720.87
06/30/1961 288,970,938,610.05
06/30/1960 286,330,760,848.37
06/30/1959 284,705,907,078.22
06/30/1958 276,343,217,745.81
06/30/1957 270,527,171,896.43
06/30/1956 272,750,813,649.32
06/30/1955 274,374,222,802.62
06/30/1954 271,259,599,108.46
06/30/1953 266,071,061,638.57
06/30/1952 259,105,178,785.43
06/29/1951 255,221,976,814.93
06/30/1950 257,357,352,351.04
From www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm
Israel continues withholding on $100M in taxes owed to Palestinians
The Israeli cabinet decided on Monday to continue withholding $100 million in tax revenues owed to the Palestinian Authority, which it was to have received two weeks ago. An official said, despite warnings from Israel’s Defense Ministry that the measure could threaten the stability of the Palestinian government in the West Bank.
Israel stopped transfer of tax funds as punishment for the Palestinian’s successful bid for admission to the United Nations’ cultural agency UNESCO, which was part of a larger effort to gain admission as a state in the world body. (Read more)
Canada stands ready to join with other nations in preventing Iran from acquiring a nuclear weapon
In a blunt warning amid an escalating crisis, the Harper government declared Friday that Canada stands ready to join with other nations in preventing Iran from acquiring a nuclear weapon.
Supporting a resolution by the International Atomic Energy Agency that expresses “deep and increasing concern” over evidence that Iran is proceeding with plans to become a nuclear power, the Harper government vowed in its submission to “continue to work with like-minded nations on next steps. (Read more)
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Comment from reddit:
Given Iran’s history it’d be wise to seek a nuke. It’s a pity that it’s necessary but I’d do the same and nothing would stop me.
IRANS RECENT HISTORY
1953-CIA backed coup overthrows the popular democratic gov.
1953-1979 The US Supported a brutal dictatorship. 1000’s murdered by the Shahs secret police the SAVAK.
1979-81 US hostages taken and released.
1980-1988 Following popular revolution against the US backed dictator, Iran is invaded. The US supported the aggressor in the war that cost Iran 500,000 casualties.
The US escorts shipping up and down the gulf, except Iranian, which it allows Iraq to attack
When Iraq falters in its attack, the US provides chemical weapons satellite intelligence
1988- USS ship shoots down a commercial flight operated by Iran Air. refuse to apologize. Gives medals to the shooters. George H. W. Bush declared, “I will never apologize for the United States of America — I don’t care what the facts are” in reference to the incident
1998 Irans regional neighbours, India/Pakistan get nukes, no longterm sanctions are placed on them.
2002 USA places Iran in Axis of Evil
2003 Iran offers full transparency on WMD, aid on the war on terror including HAMAS hizbollah, and co-ordination on Iraq, normalisation of relations. Offer rejected by USA
2003 US invades countries on either side of Iran’s borders.
2003-9 Israel calls for Iran to be bombed, launches practice raids.
Israel effectively annexes Palestinian land near Jordan Valley
Israel carried out a de facto annexation of Palestinian land northeast of the Jordan Valley and given it to Kibbutz Merav. Merav, part of the Religious Kibbutz Movement, is about seven kilometers northwest of the parcel.
The route of the separation barrier in the area was changed so that the plot in question, about 1,500 dunams (375 acres), would be on the Israeli side. (Read more)
EU bans claim that water can prevent dehydration
Brussels bureaucrats were ridiculed yesterday after banning drink manufacturers from claiming that water can prevent dehydration. . . .
A meeting of 21 scientists in Parma, Italy, concluded that reduced water content in the body was a symptom of dehydration and not something that drinking water could subsequently control.
Now the EFSA verdict has been turned into an EU directive which was issued on Wednesday.
Ukip MEP Paul Nuttall said the ruling made the “bendy banana law” look “positively sane”.
He said: “I had to read this four or five times before I believed it. It is a perfect example of what Brussels does best. Spend three years, with 20 separate pieces of correspondence before summoning 21 professors to Parma where they decide with great solemnity that drinking water cannot be sold as a way to combat dehydration.
“Then they make this judgment law and make it clear that if anybody dares sell water claiming that it is effective against dehydration they could get into serious legal bother. (Read more)
Surprise, surprise, the much touted super-committee which accompanied the raised debt-ceiling is a pathetic joke.
The debt ceiling battle led to a compromise. Congress and the President promised to submit to mandatory budget cuts. A bipartisan super committee was set up to put together a package of debt reduction cuts totaling several trillion dollars over supposedly a decade. If the committee deadlocks, the cuts will begin automatically on January 2, 2013. These must be $1.2 trillion in cuts, or $120 billion a year.
As expected by everyone, the committee is deadlocked. The Democrats want $3 trillion in debt reduction, mainly from tax increases. The Republicans will not grant this.
Democratic sources told CNN that at the meeting Tuesday the plan was presented to the 12-member committee by Sen. Max Baucus, D-Montana, the Finance Committee chairman. A majority of the six Democrats on the super committee supported the proposal but sources declined to say which member or members disagreed.
The plan would have made cuts to entitlement programs such as Medicare and Medicaid, which the Democratic sources described as a major concession from their party. In return Republicans were asked to go along with between $1.2 and $1.3 trillion in new tax revenue.
An unnamed Republican aide expressed anger that some Democrat had leaked the details of the deal to the press. I mean what kind of stab in the back is this? Telling the public what’s in store for them! This is clearly an outrage. It means, the aide said, that the Democrats think the super committee will fail.
Did anyone in his right mind expect it to succeed? The August deal to extend the ceiling and thereby avoid shutting down some government agencies temporarily was based on a sham solution.
The politicians want no responsibility for cuts. There was no record of which Democrats opposed the leaked deal. Some did. Everything is being kept hidden. There is an election year coming up.
This was the first proposed plan. The committee has not gone public with anything in two months. It has a deadline for announcing a plan: November 23. That is less than one month away. If Congress and the President refuse to accept a plan, or if no plan is offered, then cuts will begin a year later.
So, phase one deadlock is here. There is little likelihood that members of the super committee will put their careers on the line and vote publicly for cuts that specific special-interest groups can identify. There would be retaliation in November 2012. (Read more)
France unveils $138bn bid to slash deficit
The French government has announced a package of austerity measures it says will save around $138bn (100 billion euros) as part of plans to eliminate the country’s budget deficit by 2016.
Officials said the plan, announced on Monday, would save about $9.6bn in 2012, followed by savings of about $16bn in 2013 as France seeks to protect its AAA credit rating and avoid the financial market pressure engulfing other major eurozone economies such as Italy and Greece. (Read more aljazeera.com)
Italy on the Brink of Real Report?
Italy’s new government contains no elected politicians;
Italian Prime Minister Mario Monti to unveil his government’s agenda ahead of vote of confidence in the Italian Senate this afternoon
Italy’s newly appointed Prime Minister Mario Monti yesterday disclosed the list of ministers who will form his government. The new cabinet doesn’t include any politicians, with several key ministries assigned to academics. Monti opted to appoint himself as interim Economy Minister as well, although he said he would nominate four deputies soon. Monti will unveil his agenda this afternoon, ahead of a vote of confidence in the Italian Senate. According to La Stampa, Monti is expected to address several controversial issues, including further reform of the Italian pension system, a privatisation plan and concrete measures to liberalise Italy’s labour market. The vote of confidence in the lower house of the Italian parliament is scheduled for tomorrow. (Read more openeurope.org)