Monthly Archives: January 2013

EU Financial Tax Portends Loss of Market Leadership

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“Although limited presently in scope and at an apparently low rate, the tax will nevertheless provide an extra layer of financial bureaucracy that will dissuade some market participants from transacting in the Eurozone. More importantly, the measure is a ‘supra national’ tax that helps to pave the way towards a global taxation system. Not only will such a system be economically damaging, but it will be devoid largely of effective democratic accountability.  At a time when governments should be encouraging the free flow of capital, this measure moves us exactly in the wrong direction.”

http://www.europac.net/commentaries/eu_financial_tax_portends_loss_market_leadership

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Detlev Schlichter: ‘Positive Money’ and the fallacy of the need for a state money producer

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“Every injection of new money into the economy, regardless by whom, has to occur at a specific point from where the new money will disperse through a number of transactions. This process must always – from the point of view of a smoothly functioning, uninhibited market economy – lead to disruptions. It can never be neutral and it can certainly never enhance the functioning of the economy, or lead to a better plan-coordination between economic actors. Money injections always lead to arbitrary changes in relative prices, reallocations of resources and redistribution of wealth and income, without ever enhancing the wealth-generating properties of the economy overall.”

http://detlevschlichter.com/2013/01/incredible-confusions-part-1-positive-money-and-the-fallacy-of-the-need-for-a-state-money-producer/

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Timothy Geithner Accused Of Alerting Banks To 2007 Interest Rate Cut For 2nd Time

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“In the summer of 2007, as storm clouds gathered over the world’s financial system, then-New York Federal Reserve President Timothy Geithner allegedly informed the Bank of America and other banks about the possibility the U.S. central bank would lower one of its critical interest rates, according to a senior Fed official.  Jeffrey Lacker, the head of the Richmond Fed, originally raised the allegation during a Fed conference call in August 2007, and he stuck to his 5-year-old claim against the current U.S. treasury secretary in a statement provided to Reuters on Friday.”

http://www.huffingtonpost.com/2013/01/19/geithner-accused-interest-rate-cut_n_2508856.html

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Silicon Valley House Sells for $117.5 Million

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“An estate has sold in the wealthy northern California community of Woodside for $117.5 million, making it one of the highest-priced residential sales ever in the U.S. Public records show the house is 8,930 square feet and is located at 360 Mountain Road, Woodside CA, next door to the Steve Jobs house at 370 Mountain Road. Bottom line: Bernanke money is flooding Silicon Valley. The sale comes as Silicon Valley luxury home sales surged 54 percent in December, according to residential brokerage Coldwell Banker Wendy McPherson, quoted by the San Jose Mercury News.”

http://www.economicpolicyjournal.com/2013/01/silicon-valley-house-sells-for-1175.html

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Home Prices Continue to Soar; Best Gains Since 2006

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EPJ13

“Data through November 2012, released today by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices showed home prices rose 4.5% for the 10-City Composite and 5.5% for the 20-City Composite in the 12 months ending in November 2012.  It was the strongest year-over-year price increase since August 2006. The Southwest – Las Vegas and Phoenix – are staging a strong comeback with the Southeast — Miami and Tampa close behind.  The sunbelt, which bore the brunt of the housing collapse, is back in a leadership position.  California is also doing well while the northeast and industrial Midwest is lagging somewhat.”

http://www.economicpolicyjournal.com/2013/01/home-prices-continue-to-soar-best-gains.html

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A Swedish Police Taskforce Raided a Bunch of Teenagers Playing Call of Duty

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“The ten-man team raided the apartment to find a group of teenagers in the midst of murder and destruction, yes, but also enjoying just another friendly night in playing Call of Duty.  After being forced outside by what must have essentially been a SWAT team, the boys were able to explain that the gunshots were entirely virtual and the cries for help merely came when the character of one of the boys (let’s call him Sven) was shot several times and left lying on the floor. Sven’s alter ego had, presumably, been put out of its misery by the time the police arrived.  Eventually, the police admitted the mistake and left without filing any charges.”

http://gizmodo.com/5979701/a-swedish-police-taskforce-raided-a-bunch-of-teenagers-playing-call-of-duty

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Oklahoma Woman Seeks Medical Treatment, Is Jailed Instead, Dies

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“Hospital staff reported that Russell wouldn’t cooperate and was in too much pain to even lie down, so they asked a Paul’s Valley police officer to assist. And that’s when Russell’s medical emergency morphed into a drug bust. The police officer found two prescription pills on her for which she did not have a prescription, so she was arrested and jailed on drug possession charges. She was found unresponsive in her cell less than two hours later.  The Oklahoma State Bureau of Investigation has cleared the jail staff of any criminal wrongdoing.”

http://stopthedrugwar.org/chronicle/2013/jan/22/oklahoma_woman_seeks_medical_tre

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Feds fund $100,000 video game featuring female climate change ‘superhero’

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“A new video game featuring a black alien female superhero delivered to Earth to fight global warming is about to hit the market thanks to a $100,000 grant from the Obama administration.  The National Endowment for the Arts is funding the Spelman College of Atlanta, Ga.’s multi-episode game called ‘HERadventure.’ In the grant announcement made last year, the NEA said the story ‘focuses on a young female superhero sent to Earth to save her own planet from devastation because of climate changes caused by social issues impacting women and girls.’  The game is set to debut on March 8 on International Women’s Day.”

http://washingtonexaminer.com/feds-fund-100000-video-game-featuring-female-climate-change-superhero/article/2518134

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New York VA hospital exposes hundreds of veterans to HIV risk

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“More than 700 veterans may have been exposed to HIV, hepatitis B and hepatitis C due to improper use of insulin pens at a New York hospital. According to CNN, personnel at a Veterans’ Administration hospital in Buffalo, New York used the single-use injection pens on multiple patients, exposing them to the same risk of blood borne diseases as IV drug users who share needles.”

http://www.rawstory.com/rs/2013/01/15/new-york-va-hospital-exposes-hundreds-of-veterans-to-hiv-risk/

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Government Medical Propaganda Comes to Television

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EPJ13

“CBS has added a medical drama to its mix of drama pilots, greenlighting The Surgeon General from Lie To Me creator/executive producer Samuel Baum. Baum wrote and executive produces the CBS TV Studios-produced project, which centers on Dr. John Sherman — the most powerful doctor in the nation, the Surgeon General, who has 315 million patients. As ‘America’s Doctor,’ Sherman and his team battle the powerful forces of politics and business, fighting to protect the health of everyday Americans.”

http://www.economicpolicyjournal.com/2013/01/government-medical-propaganda-comes-to.html

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