Monthly Archives: July 2014

The Fed Chairs Have a Habit of Hazing

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“Paul Volcker took over as Chair of the Fed in August 1979. A recession officially began five months later.  This was the worst recession since the Great Depression.  In August 1987 Alan Greenspan took over the Fed. Two months later ‘Black Monday’ occurred on October 19, 1987, when the Dow dropped 22.6% that day alone–the worst one-day crash in history.  In February 2006 Ben Bernanke became Fed chair. The worst recession since the Great Depression officially began in December 2007, and you may recall there was some trouble in the financial markets in September 2008…  In January 2014 Janet Yellen became Fed chair.”

http://consultingbyrpm.com/blog/2014/07/the-fed-chairs-have-a-habit-of-hazing.html

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Bill Bonner: There Is No Security in Bonds Right Now

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“Debt is always and everywhere a worry and a threat. It must be repaid. The more of it there is outstanding, the more cause for worry.  Who won’t be able to pay? And if he doesn’t pay, will his creditors still be solvent? What if the currency goes down? What if inflation goes up? Debt raises questions… and makes the financial system fragile.  As the quantity of debt increases, in other words, the quality should go the opposite direction. It doesn’t make sense for the amount of debt to increase as the price of it increases, too. It is contrary to the most basic law of supply and demand.  And yet, yesterday, the price of debt went up… even as the supply of debt worldwide reaches epochal levels.”

http://www.bonnerandpartners.com/there-is-no-security-in-bonds-right-now/

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Fed Hawks Want Rate Hikes Soon

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“A trio of inflation hawks at the Federal Reserve — Richard Fisher, Esther George and Charles Plosser — believe it’s about time to take the punch bowl away.  The three regional Fed bank presidents are on a mission to urge their colleagues to take a tougher monetary policy stance, CNNMoney reported.  If they are successful, Americans would be hit with higher rates on mortgages, small business loans and credit cards, and many on Wall Street fear bonds and stocks would also suffer. But the Fed hawks believe the alternative to tighter policy could be high inflation and more dangerous asset bubbles.”

http://www.moneynews.com/StreetTalk/Federal-Reserve-rates-Plosser-inflation/2014/07/17/id/583292/

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Native Hawaiians to Feds: Give Us Back Our Kingdom

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“Hundreds showed up to testify at the fifteen public hearings held on the islands of Oahu, Lanai, Molokai, Kauai, Hawaii, and Maui.  Residents delivered passionate accounts of Hawaiian history, U.S. militarism, cultural and environmental degradation, land disputes, and a steady stream of ‘no’s’ to the five questions asked by the Department of Interior.  The 1993 Apology Resolution publicly acknowledged and apologized for the United States’ involvement in the illegal overthrow of Queen Liliuokalani and the Kingdom of Hawaii in 1893, admitting that the United States violated Native Hawaiians’ right to self-determination and international law.”

http://www.nbcnews.com/news/asian-america/native-hawaiians-federal-government-give-us-back-our-kingdom-n151801

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Politics leads to cancellation of only U.S. medical marijuana study

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“Medical cannabis use is recognized legally in almost half of the states, yet getting approval to study the health benefits of the drug is harder than getting a medical marijuana license.  So it was a big deal last spring when Dr. Sue Sisley at the University of Arizona won rare federal approval to test marijuana’s effects on veterans with PTSD.  Local government funding meant for the program was canceled after a state senator challenged using the money for Sisley’s research. After Sisley argued against the de-funding of her program, pressure from state government ultimately led to her dismissal from the University of Arizona, according to Sisley.”

http://www.thedenverchannel.com/decodedc/cancellation-of-only-active-medical-marijuana-study-a-blow-to-researchers

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FBI, NSA Spied On Prominent Muslim-American Leaders

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“Given that the government’s justifications for subjecting Gill and the other U.S. citizens to surveillance remain classified, it is impossible to know why their emails were monitored, or the extent of the surveillance. It is also unclear under what legal authority it was conducted, whether the men were formally targeted under FISA warrants, and what, if anything, authorities found that permitted them to continue spying on the men for prolonged periods of time. But the five individuals share one thing in common: Like many if not most of the people listed in the NSA spreadsheet, they are of Muslim heritage.”

https://firstlook.org/theintercept/article/2014/07/09/under-surveillance/

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Swiss Gun Ownership: The Real Story [2013]

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“Although Switzerland is one of the most gun-friendly countries in the world, there have been some misconceptions concerning the rules and regulations governing Swiss gun ownership. In this video, Rex discussed gun ownership in Switzerland with a participant of the Swiss shooting community. Although the shooting culture is very strong in Switzerland today, the laws governing private firearms ownership is more restrictive than many American gun writers make it sound.”

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Comply with California water-saving rules, get fined for brown lawn

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“On the same day the state approved mandatory outdoor watering restrictions with the threat of $500 fines, the Southern California couple received a letter from their city threatening a $500 penalty for not watering their brown lawn.  It’s brown because of their conservation, which, besides a twice-a-week lawn watering regimen, includes shorter showers and larger loads of laundry.  They’re encouraged by the state’s new drought-busting, public service slogan: Brown is the new green.  The city of Glendora sees it differently.  Residents are caught in the middle of conflicting government messages as the need for conservation clashes with the need to preserve attractive neighborhoods.”

http://www.foxnews.com/us/2014/07/19/california-couple-faces-fine-for-brown-lawn-after-complying-with-water-saving/

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The Worst Investment Advice I’ve Ever Heard

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“In managing your own finances, try to look at the situation as a company would. Don’t starve yourself for working capital, for cash. All that does is increase your default risk, not decrease it. Instead, strike a healthy balance between maintaining a cash cushion and taking on debt.  The unexpected will happen. And when it does, what matters then is not whether your payments are a few points lower. It’s whether your capital reserves will last for two months or two years. The more time you buy yourself to react, the more likely you can land on your feet.  What yields more peace of mind: paying a few bucks less each month or knowing you can weather a storm?”

http://www.caseyresearch.com/cdd/the-worst-investment-advice-ive-ever-heard

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Bill Bonner: Is Ms Yellen making history?

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“See how easy investment analysis is. Even a Fed chairman can do it. ‘Get out of social media and biotech,’ she practically urged investors. ‘Buy blue chips and the broad market.’  In this, Ms. Yellen is not just making headlines; she’s making history. As far as we know, no other Fed chairman has ever offered sector analysis.  We’d like to see her portfolio. Here is a woman who not only observes markets; she moves them.  In the event, investors sold the sectors she warned against, and bought the broad market…sending the Dow back to record territory.  What a fortune you could make if you knew what she’d say next! And what a dope you’d be if you believed her.”

http://www.equitymaster.com/dailyreckoning/detail.asp?date=07/17/2014&story=2&title=Is-Ms-Yellen-making-history

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