“After nearly two years of rocky relations, Secretary of State John Kerry went to Pakistan to begin to repair ties between the US and its ally. Pakistani officials were outraged over the impunity of US drone strikes in the Muslim nation and RT’s Erin Ade has more Kerry’s comments regarding the matter.”
“Brian Hudkins was disputing with hotel staff over the fact that unauthorized people had entered his hotel room. He was upset but not in any way aggressive. He even clasped his hands behind his back. That’s when ‘Officer of the Year’ T. Michael Wilson and Brian Hudkins began interacting. Video shows that in only 16 seconds of talking to Hudkins, he inexplicably grabs him by the shoulders and tackles him violently to the ground. Hudkins had his hands behind his back during the entire body-slam maneuver. Hudkins suffered cuts and bruises, an injured shoulder, was denied medication, and has had his business and reputation suffer.”
“The rupee has lost almost 99 percent of its value against the US dollar since 1947 when the rupee was at parity with the dollar. The dollar itself has been no great paragon of virtue and has lost 98 percent of its value against gold in the same period ($35/ounce in 1947 to around $1,330 today). So to state the the RBI has decimated the value of the rupee would actually be an understatement of sorts. But it continues to amaze me when I see the RBI Governors being extolled to the realm of divinity by the media. ‘Headless Chicken’ would be a much more appropriate description of how they have performed over the last few decades.”
The full absurdity of cash cost reporting for gold miners is really coming to the fore with the latest batch of quarterly and half yearly reports from the world’s leading gold mining companies. On a cash costs basis virtually all the world’s significant gold miners would appear to be profitable – most highly so, yet as we foreshadowed ahead of them on Mineweb the latest quarterly and half yearly profit figures coming out of the gold mining sector are, virtually without exception, dire. One might have been forgiven from asking in the past why reported earnings have invariably worked out as being way below the optimistic estimates suggested by cash cost reporting.”
http://www.mineweb.com/mineweb/content/en/mineweb-whats-new?oid=199552&sn=Detail
“The Commerce Department has made changes to how it calculates gross domestic product, designed to have the data better reflect the so-called knowledge economy. The U.S. government adjusted data all the way back to 1929, and other countries have or are about to make similar changes to their data. At the same time, the government also went back and revised data for the past five years.What’s the upshot? The rate of growth hasn’t changed all that much, though there are big shifts in a few time periods. But the level of output is higher — $559.8 billion larger, with $526 billion of that amount due to definitional changes.”
http://www.marketwatch.com/story/the-new-gdp-methodology-what-you-need-to-know-2013-07-31
“The U.S. Director of National Intelligence released three declassified documents that authorized and explained the bulk collection of phone data, one of the secret surveillance programs revealed by former National Security Agency contractor Edward Snowden. The declassification was made in the ‘interest of increased transparency,’ the Office of the Director of National Intelligence said in a statement. Much of what is contained in the documents has already been divulged in public hearings by intelligence officials as they sought to detail what was initially disclosed by Snowden.”
“Alexander, who is usually shy of publicity, attempted to win over the 7,000-strong gathering of industry professionals in Las Vegas as part of a charm offensive to contain the damage and deter Washington from curbing the programmes. Security guards confiscated eggs – presumably intended to be thrown – minutes before the NSA chief spoke. A few hecklers interrupted, accusing him of ‘lying’, ‘bullshitting’ and not reading the constitution. ‘I have read it. So should you,’ he shot back, earning laughs and applause. He praised the audience and invited them to help improve NSA. The performance won over the hackers, who applauded warmly at the end.”
“The economic establishment blames today’s evils on free markets, a lack of government intervention, and banks for being reluctant to lend. It blames government deficits on cheats who don’t pay their taxes. There are four horsemen of the global economic apocalypse, all interlinked: the overburdened economy; broken banks; expensive interventionist governments; and a developing welfare and pension crisis. As a politician aptly described to me when I interviewed him a few months ago in Brussels, trying to squeeze out economic growth under these conditions is like trying to fly a plane with concrete wings.”
http://www.caseyresearch.com/cdd/the-blindness-of-modern-economists
“In 2007 and 2008, some 29,000 weapons of various types and varieties were recovered at crime scenes by Mexican authorities. Of those, only 11,000 of them had serial numbers on them that would allow them even to be traced by the BATFE. And of those 11,000, just 5,114 were successfully traced back to sources in the United States. That’s 17.6 percent, not 70 percent or 90 percent. Just 14 percent of the 203,300 prisoners serving time in a state or federal prison in 1997 obtained their weapons from a gun shop, pawnshop, flea market, or gun show. An updated study by the DOJ in 2004 showed that the number dropped to 11 percent.”
“Housing industry and consumer groups are pressing lawmakers to make the American Dream more inclusive by ensuring new mortgage standards designed to prevent another crash are flexible enough that more families can benefit from the recovery. Regulators are close to proposing a softened version of a rule requiring banks to keep a stake in risky mortgages they securitize. Lawmakers currently shaping housing finance are seeking to reduce the government’s role in keeping rates affordable for riskier borrowers while ensuring homeownership is within reach of minorities and first-time buyers who could be needed to sustain the housing recovery.”
http://www.bloomberg.com/news/2013-07-30/american-dream-erased-as-homeownership-at-18-year-low.html