Author Archives: admin

PM’s daughter blows whistle on 54 nations that helped US w/ illegal detention & torture

open quoteThe 54 countries which were co-opted in the sweeping CIA drive against terrorism include the usual suspects such as Pakistan, Afghanistan, Saudi Arabia, Egypt, Algeria and Libya which have poor or non-existent legal systems, judicial oversight, and human rights. But it also includes western countries such as Australia, Canada, Sweden, Denmark, Belgium, Finland, Germany, Spain, and Italy, some of which are fierce advocates of civil liberties and human rights.

India is not among the countries named in the report. The list of 136 detainees does not include any Indians, nor were any apprehended in India. A majority of them were detained in Pakistan in raids and many of them are Pakistanis, confirming the country’s reputation as a terrorist haven.close quote (Read more)

Student Loans Going the Way of Housing

open quoteColleges are good at getting people enrolled. They get kids lined up with education loans. The money goes to pay exorbitant prices on textbooks. It pays for meal cards. Tuition is crazy high. Parents go along and shell out until their bank accounts are barren.

What colleges are not good at is getting the kids degrees. And those without those degrees have a hard time getting a good job to pay back a student loan. Instead, they fall into delinquency, starting off life saddled with an unpayable debt.

According to Fair Isaac Corp. (FICO), delinquencies on student loans made in the last two years have reached 15%. The pool of loans made between 2005-2007 is almost as bad, with 12.4% past due. Bloomberg reports that “almost 60% of bank managers surveyed in December expect delinquencies to worsen in six months, FICO said.”close quote (Read more)

Gunman shoots at Danish critic of Islam

open quoteCOPENHAGEN, Denmark — A gunman tried to shoot a Danish writer and prominent critic of Islam on Tuesday, but missed and fled after a scuffle with his intended victim, police and the writer said.

Lars Hedegaard, who heads a group that claims press freedom is under threat from Islam, told The Associated Press he was shaken but not physically injured in the attack at his Copenhagen home.

Police said they were searching for the suspect, whom they described as a “foreign” man aged 20-25.close quote (Read more)

The ECB Worries About Competition From Bitcoins

This reminds me of how the Post Office sued the Cub Scouts because it feared competition.

open quote Here is another one from the “you couldn’t make this up” department (the ECB is a rich fount of those). The ECB is apparently worried that the digital currency bitcoins could ruin the reputation of central banks. Seriously. At least that is what they are saying.

According to Bloomberg:

An increase in the value of bitcoin, the world’s largest online currency, may fuel concerns that virtual money could undermine the role of central banks.

The CHART OF THE DAY shows that bitcoin has more than doubled in the past 12 months, strengthening to $16.37 from $5.88, according to data from Mt. Gox, the world’s largest bitcoin exchange. The money, issued by a decentralized network of computers, has recovered after falling to $2.14 in November 2011 from a high of $29.58 five months earlier.

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Israel’s Education Ministry rejects findings of a study that determined that Arab texts rarely demonize Israel or incite hatred against Jews

open quoteIsrael’s Education Ministry has rejected the findings of a study funded by the U.S. State Department that determined that Palestinian textbooks rarely demonize Israel or incite hatred against the Jewish people and that both sides use the texts to present children and students with a one-sided view of their conflict.

“Dehumanizing and demonizing characterizations of the other are rare in both Israeli and Palestinian books,” according to the study, titled ”Victims of Our Own Narratives?,” funded by the U.S. State Department and carried out by Palestinian, Israeli and American academics.close quote (Read more)