Mish is on fire today with excellent posts. Here, Mish reports on the horrifying story of what the CIA did in kidnapping the wrong man, a German citizen Khalid El-Masri, and the CIA’s subsequent torture and abuse of him. Our court system failed too, citing "national security" grounds to throw out Khalid El-Masri’s case against the CIA. (Sounds like a specious excuse to me as sensitive information wouldn’t have to be made public.) – Ilene
“Torture [at the Guantanamo Bay detention camp] didn’t provide useful, meaningful, trustworthy information. Everyone [at the CIA] was deeply concerned and most felt it was un-American and did not work.” – Glenn L. Carle, a retired C.I.A. officer who oversaw the interrogation of a high-level detainee in 2002
“The bottom line is this: If we had some kind of smoking-gun intelligence from waterboarding in 2003, we would have taken out Osama bin Laden in 2003. It took years of collection and analysis from many different sources to develop the case that enabled us to identify this compound, and reach a judgment that Bin Laden was likely to be living there.” – Tommy Vietor, spokesman for the National Security Council.
Khalid Shaikh Mohammed was waterboarded 183 times — repeatedly misled interrogators about the courier’s identity. …
Barry Ritholtz went on to say "Thinking that torture is wrong is not a liberal or conservative value — it is an American value."
I sure wish Barry was correct. Sadly he is not, at least right now. Both president Bush and president Obama have condoned torture.
Moreover, President Obama had a campaign pledge to shut Guantanamo Bay. Sadly, I report Guantanamo Bay is still in operation. On March 8, 2011, the Irish Times noted Guantánamo trials freeze lifted
ABC News is reporting that U.S. military weapons are inscribed with secret ‘Jesus’ Bible codes:
Coded references to New Testament Bible passages about Jesus Christ are inscribed on high-powered rifle sights provided to the United States military by a Michigan company, an ABC News investigation has found.
The sights are used by U.S. troops in Iraq and Afghanistan and in the training of Iraqi and Afghan soldiers. The maker of the sights, Trijicon, has a $660 million multi-year contract to provide up to 800,000 sights to the Marine Corps, and additional contracts to provide sights to the U.S. Army …
One of the citations on the gun sights, 2COR4:6, is an apparent reference to Second Corinthians 4:6 of the New Testament, which reads: "For God, who commanded the light to shine out of darkness, hath shined in our hearts, to give the light of the knowledge of the glory of God in the face of Jesus Christ."
Other references include citations from the books of Revelation, Matthew and John dealing with Jesus as "the light of the world." John 8:12, referred to on the gun sights as JN8:12, reads, "Whoever follows me will never walk in darkness, but will have the light of life."
Trijicon confirmed to ABCNews.com that it adds the biblical codes to the sights sold to the U.S. military. Tom Munson, director of sales and marketing for Trijicon, which is based in Wixom, Michigan, said the inscriptions "have always been there" and said there was nothing wrong or illegal with adding them. Munson said the issue was being raised by a group that is "not Christian."The company’s vision is described on its Web site: "Guided by our values, we endeavor to have our products used wherever precision aiming solutions are required to protect individual freedom." …
A photo on a Department of Defense Web site shows Iraqi soldiers being trained by U.S. troops with a rifle equipped with the bible-coded sights.
"It’s wrong, it violates the Constitution, it violates a number of federal laws," said Michael "Mikey" Weinstein of the Military Religious Freedom Foundation, an advocacy group that seeks to preserve the separation of church and state in the military.
"It allows the Mujahedeen, the Taliban, al Qaeda and the
America is also spending a pretty penny in Afghanistan. The U.S. admits there are only a small handful of Al Qaeda in Afghanistan. As ABC notes:
U.S. intelligence officials have concluded there are only about 100 al Qaeda fighters in the entire country.
With 100,000 troops in Afghanistan at an estimated yearly cost of $30 billion, it means that for every one al Qaeda fighter, the U.S. will commit 1,000 troops and $300 million a year.
Sure, the government apparently planned the Afghanistan war before 9/11 (see this and this). And the Taliban offered to turn over Bin Laden (see this and this). And we could have easily killed Bin Laden in 2001 and again in 2007, but chose not to, even though that would have saved the U.S. hundreds of billions of dollars in costs in prosecuting the Afghanistan war. But this essay is about dollars and cents.
Increasing the Debt Burden of a Nation Sinking In Debt
All of the spending on unnecessary wars adds up.
The U.S. is adding trillions to its debt burden to finance its multiple wars in Iraq, Afghanistan, Yemen, etc.
Two top American economists – Carmen Reinhart and Kenneth Rogoff – show that the more indebted a country is, with…
This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible. Feel free to contact me directly at email@example.com with any questions.
Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts. After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.) Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.
It's time again for my weekly gasoline update based on data from the Energy Information Administration (EIA). Rounded to the penny, Regular and Premium both dropped another five cents, the fourth week of price declines. Regular is up 35 cents and Premium 34 cents from their interim lows during the second week of last November.
According to GasBuddy.com, two states (Hawaii and Alaska) have Regular above $4.00 per gallon, down from three last week, and three states (California, Oregon, Washington) are averaging above $3.90, unchanged from last week. South Carolina has the cheapest Regular at $3.24.
How far are we from the interim high prices of 2011 and the all-time highs of 2008? Here's a visual answer.
Shares in packaged foods producer Kellogg Co. (Ticker: K) are in positive territory on Monday afternoon, trading up by roughly 0.20% at $65.48 as of 2:20 p.m. ET. Options volume on the stock is well above average levels today, with around 12,500 contracts traded on the name versus an average daily reading of around 1,700 contracts. Most of the volume is concentrated in September expiry calls, perhaps ahead of the company’s second-quarter earnings report set for release ahead of the opening bell on Thursday. Time and sales data suggests traders are snapping up calls at the Sep 67.5, 70.0 and 72.5 strikes. Volume is heaviest in the Sep 72.5 strike calls, with around 4,600 contracts traded against sizable open interest of approximately 11,800 contracts. It looks like traders paid an average premium of $0.37 per contrac...
Once again, stocks have shown some inkling of weakness. But every other time for almost three years running, the bears have failed to pile on and get a real correction in gear. Will this time be different? Bulls are almost daring them to try it, putting forth their best Dirty Harry impression: “Go ahead, make my day.” Despite weak or neutral charts and moderately bullish (at best) sector rankings, the trend is definitely on the side of the bulls, not to mention the bears’ neurotic skittishness about emerging into the sunlight.
In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then offer up some actionable trading ideas, incl...
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We tried holding up stock prices but couldn’t get the job done. Market Shadows’ Virtual Value Portfolio dipped by 2% during the week but still holds on to a market-beating 8.45% gain YTD. There was no escaping the downdraft after a major Portuguese bank failed. Of all the triggers for a large selloff, I’d guess the Portuguese bank failure was pretty far down most people's list of "things to worry about."
All three major indices gave up some ground with the Nasdaq composite taking the hardest hi...
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Well PSW Subscribers....I am still here, barely. From my last post a few months ago to now, nothing has changed much, but there are a few bargins out there that as investors, should be put on the watch list (again) and if so desired....buy a small amount.
First, the media is on a tear against biotechs/pharma, ripping companies for their drug prices. Gilead's HepC drug, Sovaldi, is priced at $84K for the 12-week treatment. Pundits were screaming bloody murder that it was a total rip off, but when one investigates the other drugs out there, and the consequences of not taking Sovaldi vs. another drug combinations, then things become clearer. For instance, Olysio (JNJ) is about $66,000 for a 12-week treatment, but is approved for fewer types of patients AND...
I just wanted to be sure you saw this. There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.
If GOOGLE, the NSA, and Steve Jobs all got together in a room with the task of building a tremendously accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.
Well, I hate to break it to you though… they never got around to building it, but my friends at Market Tamer did.
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