Tag Archives: Bullshit Artists

Holder promises not to pursue death penalty against Snowden

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“Former U.S. security contractor Edward Snowden would not face the death penalty or be tortured and would have all the protections of the U.S. civilian court system if he were sent home, the chief U.S. prosecutor wrote in a letter to his Russian counterpart this week. In the letter dated July 23 and released on Friday, U.S. Attorney General Eric Holder wrote that he sought to dispel claims about what would happen to Snowden if Russia handed him over to face charges of illegally disclosing government secrets about surveillance programs.”

http://www.rawstory.com/rs/2013/07/26/holder-promises-not-to-pursue-death-penalty-against-snowden/

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House protects surveillance program before passing military spending bill

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“After fierce debate over the limits of domestic spying, the House on Wednesday voted to protect the federal government’s ability to collect phone records and other data related to U.S. citizens who aren’t suspected of terrorism.  The Obama administration lobbied against Amash’s amendment, and members of congressional intelligence committees defended the NSA’s actions. Rep. Michele Bachmann, R-Minn., said it was ‘a false narrative that the federal government is taking in the content of American phone calls and emails.’ She said there was more information about U.S. citizens in a phone book than in the NSA database.”

http://newsok.com/house-protects-surveillance-program-before-passing-military-spending-bill/article/3865514

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Shortodile Golddee: That’s not backwardation

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“Sue Shortton: Shortodile Golddee, give him your short positions. Shortodile Golddee: What for? Sue Shortton: He’s got backwardation. Shortodile Golddee: [chuckling] That’s not backwardation. [draws a oil chart] That’s backwardation.”

http://goldchat.blogspot.com.au/2013/07/shortodile-golddee-thats-not.html

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Fantasy Land Financial Analysis for Investors

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“Here is the most recent chart from the Federal Reserve Bank of St. Louis. This is the adjusted monetary base over the past 12 months. This reflects the monetary policy of the Federal Reserve. The Federal Reserve is in control of the monetary base. Perhaps we should look at the longer-range policy. Do you see any change since 2009?  The MarketWatch writer draws a conclusion from this ‘tightening.’ He writes: ‘The Fed’s tightening is primarily to prevent a full-blown asset bubble. Its burst could bring another financial crisis.’ But if the FED is not tightening, what happens to the asset bubble?”

http://teapartyeconomist.com/2013/07/24/fantasy-land-financial-analysis-for-investors/

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NSA Says It Can’t Search Its Own Emails

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“The NSA is a ‘supercomputing powerhouse’ with machines so powerful their speed is measured in thousands of trillions of operations per second. The agency turns its giant machine brains to the task of sifting through unimaginably large troves of data its surveillance programs capture.  But ask the NSA, as part of a freedom of information request, to do a seemingly simple search of its own employees’ email? ‘There’s no central method to search an email at this time with the way our records are set up, unfortunately,’ NSA Freedom of Information Act officer Cindy Blacker told me last week. The system is ‘a little antiquated and archaic,’ she added.”

http://www.propublica.org/article/nsa-says-it-cant-search-own-emails

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German Intelligence Worked Closely with NSA on Data Surveillance

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“Chancellor Angela Merkel has repeatedly said she knew nothing about American surveillance activities in Germany. But documents show that German intelligence cooperates closely with the NSA and even uses spy software provided by the US. The shift to a more offensive German security policy began in 2007.  Since then, there have been ‘regular US-German analytic exchanges and closer cooperation in tracking both German and non-German extremist targets.’  The German foreign intelligence agency went even further in its effort to please the Americans, ‘working to influence the German government to relax interpretation of the privacy laws’.”

http://www.spiegel.de/international/world/german-intelligence-worked-closely-with-nsa-on-data-surveillance-a-912355-druck.html

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Public Sector Pensions Are a National Issue

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“Paul Krugman and Dean Baker took the Washington Post editorial page to task yesterday for stating that unfunded state and local pension liabilities amounted to $3.8 trillion. They accuse the page of misquoting a study in which the total was cited as only $1 trillion. Currently, standard practice measures the funding status of public pensions in the US under the laughable assumption that every dollar in the pension funds will earn compound returns of 7.75% or 8% per year. That’s the basis for the $1 trillion in unfunded liabilities.  If unfunded liabilities are $1.0 trillion under an 8% rate, then they are $3.4 trillion unfunded under a 4% rate.”

http://www.advancingafreesociety.org/exclusive/topics/economics/public-sector-pensions-are-a-national-issue/

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A Dozen Things I’ve Learned From Michael Mauboussin About Investing

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“1. ‘The only certainty is that there is no certainty… With uncertainty, the underlying distribution of outcomes is undefined, while with risk we know what that distribution looks like. Corporate undulation is uncertain; roulette is risky…’ There is no single number which can be used to predict the future price of an investment because the future is not only risky (like roulette) but uncertain (unknown unknowns). There are known future states for which probability is unknown and future states that are unknown for which probability is not computable.”

http://25iq.com/2013/07/11/a-dozen-things-ive-learned-from-michael-mauboussin-about-investing/

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Lies, Damned Lies, and Statistics… at FreedomFest

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“Don’t believe everything you’re told by promoters about second citizenship and passports. They may be entertaining and persuasive, but they can get you into some serious trouble. Same goes with anyone who promises that you can somehow hide your offshore holdings from the IRS. You’re asking for a world of trouble (not to mention setting yourself up to be blackmailed). Look, I’ve been in asset and privacy protection business for more than a quarter century. I’ve seen these things come and go. And, from experience with thousands of clients, I can tell you that the only proper way to do this is the legal way.”

http://www.nestmann.com/paraguayan-citizenship-freedomfest/

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Which of Bernanke’s Statements Should We Believe?

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“On one hand, he’s giving precise numbers like 6.5% and 7% unemployment, and on the other hand, his message seems to be, ‘Don’t pay attention to those numbers too much. We’re just going to play it by ear.’ Kind of confusing, in my opinion. Does the Fed want the market to pay attention to those metrics or not?  The answer is probably somewhere in between.  Not a whole lot from his statements this time around, but we do have two things to closely keep our eye on now—near 7% unemployment and faltering real estate prices—as two key trigger points.”

http://www.caseyresearch.com/cdd/which-of-bernankes-statements-should-we-believe

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