Monthly Archives: February 2013

Government Squeezes Egan-Jones after US Debt Downgrade

open quoteIn July 2011, Egan-Jones Ratings Co. became the first nationally recognized statistical rating organization to downgrade the U.S. below AAA. In April 2012, Egan-Jones cut the U.S. government’s credit rating an additional notch to AA from AA+.

Later that month, the Securities and Exchange Commission’s enforcement division accused Egan-Jones of securities-law violations related to errors in the company’s 2008 application to expand its license as a nationally recognized rater. Last September, Egan-Jones downgraded the nation again, this time to AA-.

Then today, the SEC said it reached a settlement with Egan-Jones, under which the company “agreed to be barred for at least 18 months from rating asset-backed and government securities issuers as an NRSRO.” The deal doesn’t affect Egan-Jones’s license to rate corporate debt.

Maybe downgrading the U.S. had nothing to do with the SEC’s decision to target Egan-Jones, which neither admitted nor denied the SEC’s claims. Regardless, the chronology looks chilling. In essence, Egan-Jones was accused of “filling out forms wrong,”close quote (Read more)

Generl Cosgrove’s Epic Interview on Gun Culture

lost republic open quote
For those that don’t know him, Major General Peter Cosgrove is an Australian.
General Cosgrove was interviewed on the radio recently.
Read his reply to the lady who interviewed him concerning guns and children. Regardless of how you feel about gun laws you have to love this! This is one of the best comeback lines of all time. In a portion of an ABC radio interview between a female broadcaster and General Cosgrove who was about to sponsor a Boy Scout Troop visiting his military Headquarters.

FEMALE INTERVIEWER:So, General Cosgrove, what things are you going to teach these young boys when they visit your base?

GENERAL COSGROVE:!
We’re going to teach them climbing, canoeing, archery and shooting.

FEMALE INTERVIEWER: Shooting! That’s a bit irresponsible, isn’t it?

GENERAL COSGROVE:I don’t see why, they’ll be properly supervised on the rifle range.

FEMALE INTERVIEWER:Don’t you admit that this is a terribly dangerous activity to be teaching children?

GENERAL COSGROVE:I don’t see how. We will be teaching them proper rifle discipline before they even touch a firearm.

FEMALE INTERVIEWER:But you’re equipping them to become violent killers.

GENERAL COSGROVE:Well, Ma’am, you’re equipped to be a prostitute, but you’re not one, are you?
The radiocast went silent for 46 seconds and when it returned, this interview was over.close quote

A petition to ‘stop white genocide’?

open quoteHe asked, “Is this the most racist White House petition ever created?” After taking a look and not having reviewed any of the other wacky petitions flooding the “We the People” page on the White House web page, I would have to answer yes. Yes, it probably is.

Someone named Albert D. petitioned the Obama administration on Jan. 11 to “STOP WHITE GENOCIDE: Halt MASSIVE third world immigration and FORCED assimilation in White countries!”

Albert’s not kidding.

“Africa for Africans, Asia for Asians, White countries for EVERYBODY?” he writes. “White countries are being flooded with third world non-whites, and Whites are required by law to integrate with them so as to ‘assimilate,’ i.e. intermarry and be blended out of existence.”

He says that this is a violation of the United Nations Convention against genocide. Thus, he is petitioning President Obama to “end White Genocide in the United States, and to call for the end of White Genocide in Europe, Britain, Australia, New Zealand and Canada.”

And Albert ends with this. “Supporting White Genocide is not anti-racist. It’s anti-white!”

I don’t know where to begin. Frankly, there’s no use trying to understand the mind that would form such twisted views, let alone one that would share them on the Web site of the president of the United States. But know this, Albert is not alone. When I first clicked on the petition, he had 388 co-signers from all over the country, including from unlikely places such as New York City, New Haven, Conn., Silver Spring, Md., and Berkeley, Calif. And he gained another one in the time it took me to write this post.close quote (Read more)

US officially recognises Somalia’s government

Hillaryopen quoteSecretary of State Hillary Clinton announced the news on Thursday at a meeting in Washington with Somali President Hassan Sheikh Mohamud.

He took office in 2012 after the first vote of its kind since dictator Mohamed Siad Barre was ousted in 1991.

“Today is a milestone, it is not the end of the journey, but it is an important milestone towards that end,” Mrs Clinton said after talks with Mr Mohamud.close quote (Read more)

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Somalia was better off stateless:

Better Off Stateless: Somalia Before and After Government Collapse

Stateless in Somaliaopen quotePeter Leeson drawing on statistical data from the United Nations Development Project, World Bank, CIA, and World Health Organization. Comparing the last five years under the central government (1985–1990) with the most recent five years of anarchy (2000–2005), Leeson finds these welfare changes:

* Life expectancy increased from 46 to 48.5 years. This is a poor expectancy as compared with developed countries. But in any measurement of welfare, what is important to observe is not where a population stands at a given time, but what is the trend. Is the trend positive, or is it the reverse?
* Number of one-year-olds fully immunized against measles rose from 30 to 40 percent.
* Number of physicians per 100,000 population rose from 3.4 to 4.
* Number of infants with low birth weight fell from 16 per thousand to 0.3 — almost none.
* Infant mortality per 1,000 births fell from 152 to 114.9.
* Maternal mortality per 100,000 births fell from 1,600 to 1,100.
* Percent of population with access to sanitation rose from 18 to 26.
* Percent of population with access to at least one health facility rose from 28 to 54.8.
* Percent of population in extreme poverty (i.e., less than $1 per day) fell from 60 to 43.2.
* Radios per thousand population rose from 4 to 98.5.
* Telephones per thousand population rose from 1.9 to 14.9.
* TVs per 1,000 population rose from 1.2 to 3.7.
* Fatalities due to measles fell from 8,000 to 5,600.close quote

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Despite this, the US wreaked death and destruction upon the country in an attempt to establish a favorable state:

Blowback in Somalia open quotein many cases they were chopping their head off and taking the head to the Americans or whoever. And telling them, ‘We killed this guy.’”close quote

US extends drone strikes to Somalia

U.S. played central role in disastrous 2006 Ethiopian invasion of Somalia

U.S. Expanding Secret Military Activities

US AFRICOM Launches Large-Scale Offensive In Somalia