Posts Tagged ‘terrorism’

Which is the Bigger Threat: Terrorism or Wall Street Bonuses?

Which is the Bigger Threat: Terrorism or Wall Street Bonuses?

By Wallace C. Turbeville, courtesy of New Deal 2.0

stockmarket-1500001

The current system of trader compensation will continue to decay the heart of Wall Street.

Which is a greater threat to the nation — terrorism or the relentless decline of middle income families? Unless we abandon our core values out of unwarranted fear, terror cannot fundamentally change our way of life. The number of people affected by growing income disparity is vast. When I was a student, income disparity was indicative of an underdeveloped and unstable society.

The government appropriately devotes enormous resources to protect our lives and property from terrorism. It is unthinkable that a leader would display any weakness opposing this threat. Politicians have stiff backbones when it comes to terrorism.

In contrast, the government is timid and half-hearted in its approach to the system which perversely rewards a few Wall Street traders with billions of dollars of bonuses, yet allows the foundation to decay.

Kenneth Feinberg issued his report identifying outrageous Wall Street compensation of executives despite their role in the financial disaster and bail out. He proposed that the banks voluntarily adopt “brake provisions” that permit boards of directors to nullify bonuses in the event of a new financial crisis.

He might have more success asking the lions of the Serengeti to give the wildebeests a sporting chance of making an escape.

Over the last fifteen years, the financial sector’s percentage of GDP has increased dramatically. At the same time, the median family income stagnated and then declined.  I do not believe that this is a coincidence.

The large banks have changed. They slice and dice the constituent elements of a stagnant economy, squeezing value out in ever more sophisticated ways. Wall Street has turned away from its roll as the financial backer of industry and commerce. In the short term, it is more profitable for them to use their capital for trading. Newfangled software and MIT “quants” allow the traders to “rip the faces off” of corporate counterparties and investors which were once trusted clients.

These young traders are simply doing what America has told them to do.  They are allowed to earn obscene amounts of money using the advantageous information, technology and capital of their employers. Making money from less powerful counterparties is like shooting fish in a barrel.  The banks make so much money that…
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“National Security:” A Global Police State-Within-a-State

"National Security:" A Global Police State-Within-a-State 

Courtesy of Charles Hugh Smith, Of Two Minds 

The Global War on Terrorism (GWOT) has spawned a national security "state-within-a-state" with essentially unlimited funding and support of America’s political machine. This National Security State has infected domestic policing and courts; it is both ubiquitous and completely unaccountable.

The Democrats and Republicans have enthusiastically joined hands to create a global police/national security state-within-a-state of unimaginable reach and power.  Frequent contributor Michael Goodfellow sent me this investigative report, which I consider one of the most important of the decade: Top Secret America: A hidden world, growing beyond control (Washington Post).

Let’s go back briefly to September 1, 2001, before the 9/11 attack. The national security "assets" of the nation had all the information needed to stop the attack. The various agencies did not stop the attack because there was essentially zero coordination and data-sharing between the CIA, NSA and FBI.

This was laid out in the PBS program The Spy Factory.

Now the national security "assets" have metastasized into a gargantuan national security state-within-a-state--and the exact same problem not only exists, it has become even more intracable.

Now that the national security state (NSS) has become much larger and even more unwieldy, coordination, collaboration and data-sharing have been rendered essentially impossible. This report makes that absolutely clear.

Rather than fix the problem of coordinating our national security assets, the Federal government and its leaders have amplified the problem. At the same time, they have created a monster which is beyond the control of elected officials or the citizenry, a secretive state-within-a-state which protects itself behind the inpenetrable shield of "national security" and "need to know."

The national security state is the ultimate protected fiefdom. Cutting one dollar of funding would be instantly characterized as "weakening our fight against global terrorism," as would any limits on the NSS’s powers.

This is in effect a new arm of the "military-industrial complex" which dwarfs the power of the traditional military-industrial complex: "defense" contractors and the revolving door between the DoD (Department of Defense) and these Pentagon-dependent industrial corporations.

GWOT is the perfect defense for a state-within-a-state that is insatiable and beyond accountability. Even simple inquiries are quickly dismissed as "dangerous"--as if global terrorists would glean some useful information from knowing just how many hundreds of billions of dollars are being spent tracking them.

What’s essential to our…
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Thank GDP It’s Friday!

Wow, a 6% GDP!

I’m guessing as it’s only 7:30 but WOW!  What an amazing economy this must be in the fantasy-land where they concoct these numbers.  Let’s see, we have 138M working people so we must have added 8.6M jobs, right?  NO???  Well, then the people who are working must be putting in a lot of overtime, right?  No?  I know, everybody must be making 6% more money than last year!  No?  Well, then it must be coming through in benefits, right?  No?  Hmm, this is a hard game isn’t it?  I KNOW!!!  Housing prices – with China-like GDP growth our housing market must be red hot and surely our homes are up 6% in value!  No?  Damn, I feel like I’m playing deal or no deal and I picked the case with the penny

Just like our discussion about what total BS the CPI was – GDP is no different.  GDP is the sum of Consumption, Investment, Government Spending and Net Exports which means a combination of inflation and government spending can boost our GDP even as real consumption falls and the rising dollar papers over export losses.  In other words – I buy $100Bn worth of Toyotas (5M at $20,000 each) from Japan with the dollar at 85 Yen.  Now the dollar rises to 93 Yen and I’m "only" buying $90Bn worth of Toyotas (5M at $18,000 each) and our GDP for that segment is up 10%.  Wow – FANTASTIC! 

Are we happy?  Are more Americans working?  Is there more shipping?  Are there more sales at the Toyota dealership?  No.  Is Japan happy?  Not at all, they are getting less money for the same cars.  Another group that hasn’t been happy are the oil exporters, who shipped us an average of 10.5 Million barrels a day at an average price of $60 last year ($630M) and are now shipping us just 8.5Mbd at $80 last week ($680M).  Sure they are still getting their $680M a day by choking off production and creating false supply shortages, but they miss the days when they were able to charge us $100 for 11Mbd. 

Don’t worry my OPEC pals, JPM and the other oil manipulators are working very hard to make sure you once again have Billions of more American dollars that you can funnel to terrorists and this Democratic Congress turns the same blind eye to the shenanigans as the previous administration did so happy days will soon be
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The FBI Just Shut Down Tax Protest Terrorist Joe Stack’s Website

The FBI Just Shut Down Tax Protest Terrorist Joe Stack’s Website

Courtesy of John Carney at Clusterstock 

crash plane austin

Source: AP

It’s a good thing we grabbed the insane manifesto of Joe Stack, the guy who flew his plane into a seven story building in Austin, Texas. 

Because the website is now down.

"This website has been taken offline due to the sensitive nature of the events that transpired in Texas this morning and in compliance with a request from the FBI," T35 Hosting explains.

While it seems reasonable for T35 to comply with the FBI request, we cannot help but wonder what the purpose of taking the site down might be. Is the FBI worried it might inspire copycat attacks?

See Also:

 

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Confirmed: US Officials Say Terrorists Who May Have US Passports Are Plotting Another Attack Against US

Confirmed: US Officials Say Terrorists Who May Have US Passports Are Plotting Another Attack Against US

Courtesy of John Carney at Clusterstock/The Business Insider

gulf aden yemen middleeast saudiCredible intelligence has emerged that the branch of Al Qaeda Yemen is plotting another attack against the United States and U.S. interests abroad.

A senior U.S. counterterrorism official confirmed the terror plot to a number of news outlets, including the Daily News and Fox News.

The intelligence doesn’t provides specifics about time, place or method of attack. But officials are taking the threat seriously. The Yemeni group is said to have been emboldened by the Christmas Day attack.

"Our concerns have intensified," the official told The News.

Frighteningly, Fox reports that some of the suspected terrorists may have US passports.

From Fox:

Al Qaeda in Yemen and the Al Qaeda affiliate in Somalia, known as Al Shabaab — translated as Mujahadeen Youth — are described as having "shared interests and shared goals."

U.S. counterterrorism officials say clear connections now can be traced between the two terrorist groups and they are not ruling out the possibility that they are working together to attack U.S. interests.

U.S. officials also remain concerned about two dozen Somali Americans who disappeared into the Al Shabaab training camps in Somalia in the last 18 months. Their American passports would allow them to reenter the United States.

 


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Terrorism update

Changing the subject
Why O nixed Ft. Hood probe

By DICK MORRIS & EILEEN MCGANN, New York Post

U.S. President Barack Obama Visits Japan - Day 1

As he flew to Asia on Saturday, President Obama told the media in Alaska that he opposes a congressional investigation into the Fort Hood massacre, saying that we must "resist the temptation to turn this tragic event into political theater." Yet, even as he was posturing against political theatrics, he had just decided that the prosecution of 9/11 mastermind Khalid Sheikh Mohammed would proceed on the greatest of public stages — New York City.

With the strict evidentiary rules in force in federal civilian courts, it is easy to see how the prosecution of Mohammed could morph into an indictment of the Bush administration’s interrogation techniques and waterboarding. As in rape trials, the magnitude of the underlying crime (masterminding the 9/11 attacks) might well be lost as the defense puts the victim (in this case, the government) on trial…

Obama and his handlers know that the key to building favorable ratings is to control the agenda. And the more the national discussion centers on national security and terrorism, the more Republicans gain. So the Fort Hood terror attack comes at an awful time for an administration trying to turn the nation’s attention away from the terrorist threat…

Read full article here.
 

See Also Op-Toons Review’s :

Terrorist Reporters Provide Detailed Coverage of National Security Information Revealed in Open Court Criminal Prosecutions of 9/11 Terrorists

New York, New York--Haters of America around the world are hailing the terrorist press corps’ "comprehensive" coverage of the open criminal trials of the 9/11 terrorists being held in New York City.

Terrorist journalists are being praised for doing a particularly good job publicizing sensitive national security information revealed in court — information that will help tip off other terrorists and thwart their capture…

More here.

Law Enforcement Officials Replace "Good Cop, Bad Cop" Routine with "Good Cop, Super-Sensitive Hippie" Routine

optoon's reviewFacing pressures to be more "politically correct" in its anti-terrorism investigations, law enforcement officials nationwide are increasingly abandoning the "good cop, bad cop" method of interrogation in favor of a "good cop, super-sensitive hippie" routine.

"The new interrogation style is more attuned to empathizing with a terrorists’ deep-seated angst," said one interrogator.

Continue here.

 


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Facebook's Libra cryptocurrency can still take off and revolutionise money

 

Facebook's Libra cryptocurrency can still take off and revolutionise money

Poring Studio / Shutterstock.com

Courtesy of Gavin Brown, Manchester Metropolitan University and Richard Whittle, Manchester Metropolitan University

Facebook’s Libra cryptocurrency has suffered a few setbacks recently. As well as facing ...



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Zero Hedge

Market Spooked By Upcoming "Bad Cop" Pence China Speech

Courtesy of ZeroHedge View original post here.

At roughly the same time that today's Boeing news hit, revealing that instant messages by Boeing employees in 2016 indicated employees misled the FAA about a key safety system on the 737 Max sending both BA stock and the broader market sharply lower as the biggest Dow component tumbled, a second report also hit which added to the risk-off sentiment.

At 12:20pm, Reuters reported that Vice President Mike Pence planned to deliver his second major policy speech on China next Thursday.

...



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Chart School

Gold Stocks Review

Courtesy of Read the Ticker

Gold stocks are swinging back forth between the range, and a break out swing higher is due. Gold stocks are holding a near perfect Wyckoff accumulation pattern. All should get ready to play this sector. Yet we must recognize that gold stocks are a one of the most crazy rides at the stock market fair, so play very carefully.

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GDX PnF chart from within the video

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Important channels around the HUI.
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Insider Scoop

48 Biggest Movers From Yesterday

Courtesy of Benzinga

Gainers
  • Hepion Pharmaceuticals, Inc. (NASDAQ: HEPA) shares climbed 43.2% to close at $3.58 on Thursday after the company announced the publication of a research article, "A Pan-Cyclophilin Inhibitor, CRV431, Decreases Fibrosis and Tumor Development in Chronic Liver Disease Models," in the peer-reviewed Journal of Pharmacology and Experimental Therapeutics.
  • Synthesis Energy Systems, Inc. (NASDAQ: SES) rose 26.9% to close at $9.20 after surging 12.24% on Wednesday.
  • Assembly Biosciences, Inc...


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Kimble Charting Solutions

Bank Index Breakout? Stock Market Bulls Sure Hope So

Courtesy of Chris Kimble

One of the most important sectors of the stock market is the banking industry and bank stocks.

When the banks are healthy, the economy is likely doing well. And when bank stocks are participating in a market rally, then it bodes well for the broader stock market.

In today’s chart, we look at the Bank Index (BKX).

As you can see, the banks have been in a falling channel for the past 20 months. As well, the banks have been lagging the broader market during this time as well – see the Ratio in the bottom half of the chart above.

That said, th...



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The Technical Traders

Currencies Show A Shift to Safety And Maturity - What Does It Mean?

Courtesy of Technical Traders

Recent rotation in multiple foreign currencies hints at the fact that a new stage of the “Capital Shift” process is taking place and that skilled technical investors need to pay very close attention to how these currencies continue to react over the next 3 to 6+ months.  In the recent past, most of the world’s foreign currencies were declining in value while the US Dollar continued to strengthen.  In fact, we authored many research articles about these trends and how weakness in foreign currencies will drive new foreign investment into the US stock markets for two simple reasons; strength and security. 

Now that a few of the world’s most ...



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Digital Currencies

Zuck Delays Libra Launch Date Due To Issues "Sensitive To Society"

Courtesy of ZeroHedge View original post here.

Authored by William Suberg via CoinTelegraph.com,

Facebook is taking a much more careful approach to Libra than its previous projects, CEO Mark Zuckerberg has confirmed. 

“Obviously we want to move forward at some point soon [and] not have this take many years to roll out,” he said. “But ...



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Lee's Free Thinking

Look Out Bears! Fed New QE Now Up to $165 Billion

Courtesy of Lee Adler

I have been warning for months that the Fed would need new QE to counter the impact of massive waves of Treasury supply. I thought that that would come later, rather than sooner. Sorry folks, wrong about that. The NY Fed announced another round of new TOMO (Temporary Open Market Operations) today.

In addition to the $75 billion in overnight repos that the Fed issued and has been rolling over since Tuesday, next week the Fed will issue another $90 billion. They’ll come in the form of three $30 billion, 14 day repos to be offered next week.

That brings the new Fed QE to a total of $165 billion. Even in the worst days of the financial crisis, I can’t remember the Fed ballooning its balance sheet by $165 bi...



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Biotech

The Big Pharma Takeover of Medical Cannabis

Reminder: We are available to chat with Members, comments are found below each post.

 

The Big Pharma Takeover of Medical Cannabis

Courtesy of  , Visual Capitalist

The Big Pharma Takeover of Medical Cannabis

As evidence of cannabis’ many benefits mounts, so does the interest from the global pharmaceutical industry, known as Big Pharma. The entrance of such behemoths will radically transform the cannabis industry—once heavily stigmatized, it is now a potentially game-changing source of growth for countless co...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

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