Monthly Archives: September 2012

1.5 million take to streets of Barcelona in support of independence

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“Surging unemployment and financial disarray have stoked a fever of separatism in Catalonia, a comparatively prosperous part of Spain whose leaders say their wealth is being sucked dry by the central government.  Crowds waved red and yellow striped Catalan flags – one of the oldest still in use in Europe – and sang the Catalan anthem on a national day marking the conquest of Catalonia by Spain’s King Philip V in 1714 after a 13 month siege of Barcelona.  A poll by the regional government in July showed for the first time that more than half of Catalonia’s population favours independence.”

http://www.telegraph.co.uk/news/worldnews/europe/spain/9537181/1.5-million-take-to-streets-of-Barcelona-in-support-of-independence.html

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The French Version of Atlas Shrugged

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“Some people in France don’t understand the risks of driving away the geese that lay the golden eggs.   I’ve already posted about productive people escaping France, so that’s not exactly a new development.  What is remarkable, though, is the way French politicians, journalists, and ordinary citizens (presumably of the moocher variety) have viciously attacked Mr. Arnault.”

http://danieljmitchell.wordpress.com/2012/09/11/the-french-version-of-atlas-shrugged/

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White House Preparing Executive Order As A Stand-In For CISPA

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“The White House has decided that, with the failure of Congress to pass a comprehensive cybersecurity bill (CISPA passed in the House, but the rather different Cybersecurity Act failed in the Senate), it is going to issue some sort of executive order to deal with ‘cybersecurity issues.’  It sounds pretty similar to the Lieberman/Collins Cybersecurity Act — the one that failed to gain Senate approval. The parts that concerned us the most in the bill — concerning information sharing without real privacy protections — appear to be in this executive order, and in some ways may be worse.”

http://www.techdirt.com/articles/20120907/17193520315/white-house-preparing-executive-order-as-stand-in-cispa.shtml

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Woman to pay $9,250 per song in file-sharing case

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“Jammie Thomas-Rassett, known as the ‘Download Martyr’ for reasons that will soon become abundantly clear, downloaded 24 songs on the late music sharing service Kazaa, including such gems as Def Leppard’s ‘Pour Some Sugar on Me.’  The case against Thomas-Rassett was the first major file-sharing case to go to trial, and the 8th Circuit ruled on Tuesday that she must pay a total of $220,000 in damages, or $9,250 per song.”

http://www.insidecounsel.com/2012/09/12/woman-to-pay-9250-per-song-in-file-sharing-case

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Cui Bono Fed: Who Benefits from the Federal Reserve?

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“Cui bono–to whose benefit?–is a skeptic’s scalpel that cuts through the fat of propaganda and political expediency to the hard truth. Since the world has been trained (in Pavlovian fashion) to hang on every word issued by America’s privately owned central bank, the Federal Reserve, it’s appropriate to ask a simple but profound question:  Who benefits from the Fed’s existence and its policies of loaning ‘free money’ to banks at 0% and ZIRP (zero interest rate policy)? The Status Quo’s answer is ‘the American people,’ of course, a deliciously juicy layer of ‘Big Lie’ propaganda and obfuscation.”

http://charleshughsmith.blogspot.com/2012/09/cui-bono-fed-who-benefits-from-federal.html

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American Airlines cutting 1,700 jobs in Tulsa, Fort Worth

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“American Airlines expects to lay off more than 1,700 mechanics and related workers in December and February as part of its bankruptcy restructuring process.  The Tulsa World reports the airline is closing its Fort Worth maintenance base by the end of the year, laying off 839 Tulsa mechanics and consolidating major aircraft maintenance operations at Tulsa and at Dallas-Fort Worth International Airport. American has about 4,300 workers in Tulsa.”

http://www.bizjournals.com/wichita/morning_call/2012/09/american-airlines-cutting-1700-jobs.html

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GM’s Volt: The ugly math of low sales, high costs

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http://s1.reutersmedia.net/resources/r/?m=02&d=20120910&t=2&i=651361188&w=460&fh=&fw=&ll=&pl=&r=CBRE8890BQN00

“Nearly two years after the introduction of the path-breaking plug-in hybrid, GM is still losing as much as $49,000 on each Volt it builds.  Cheap Volt lease offers meant to drive more customers to Chevy showrooms this summer may have pushed that loss even higher. There are some Americans paying just $5,050 to drive around for two years in a vehicle that cost as much as $89,000 to produce.  GM is still years away from making money on the Volt, which will soon face new competitors from Ford, Honda and others.”

http://www.reuters.com/article/2012/09/10/us-generalmotors-autos-volt-idUSBRE88904J20120910

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US August Budget Deficit Soars To $192 Billion, $1.17 Trillion In Fiscal 2012

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“According to an advance look by the CBO, the August deficit soared from a modest $70 billion to a whopping $192 billion, the highest August deficit in history, and coming at a time when traditionally the US Treasury does not generate substantial deficits. Expect the US to end Fiscal 2012 with a total deficit of well over $1.2 trillion, which in turn means that the average burn rate of $100 billion in new debt issuance each month, will continue into the indefinite future.”

http://www.zerohedge.com/news/us-august-budget-deficit-soars-192-billion-117-trillion-fiscal-2012

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Ex-Comptroller General Walker: ‘Fiscal Cliff,’ Here We Come

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“Former U.S. Comptroller General David Walker said he doubts the White House and Congress will agree by the end of this year to head off across-the-board spending cuts and tax increases set for January.  Congressional committees haven’t ‘done their work’ on realistic plans to overhaul taxes and entitlement programs such as Medicare, and President Barack Obama’s administration has done little to prepare the public for spending cuts and tax increases, Walker said at a luncheon Monday.”

http://www.moneynews.com/StreetTalk/walker-debt-fiscal-cliff-tax/2012/09/10/id/451318?s=al&promo_code=10066-1

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