Tag Archives: Bullshit Artists

Detroit’s City Pensioners Are Wiped Out.

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“This is the thing about impossible obligations. They get abandoned. This confirms economist Herbert Stein’s law: ‘When things can’t go on, they have a tendency to stop.’ A year ago, the experts denied that anything was wrong. Yes, there were ‘problems,’ but nothing that could not be fixed. ‘Bankruptcy? Are you serious? Of course not. There is no possibility of that. Such talk is inflammatory. Perish the thought.’ That’s what politicians always say . . . right up to the end. The pensioners will have to go back to work. They will be covered by Medicare only. They believed the politicians. They invested their working years in terms of promises made by politicians.”

http://teapartyeconomist.com/2013/07/19/detroitss-city-pensioners-are-wiped-out/

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Obama Flashback: “We Refused to Let Detroit Go Bankrupt”

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Obama Flashback: “We Refused to Let Detroit Go Bankrupt”

“In October of 2012, President Barack Obama triumphantly declared he ‘refused to throw in the town’ and ‘let Detroit go bankrupt.’  On July 18, 2013, Detroit went bankrupt. ‘We refused to throw in the towel and do nothing. We refused to let Detroit go bankrupt. We bet on American workers and American ingenuity, and three years later, that bet is paying off in a big way,’ Obama said in his weekly address. To be fair, it seems that Obama was touting Detroit of an example of how his administration ‘saved’ the automobile industry. Clearly though, this administration’s big government policies were still not enough to save the city from economic ruin.”

http://www.theblaze.com/stories/2013/07/18/obama-flashback-we-refused-to-let-detroit-go-bankrupt/

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Indian government again urges Indians not to buy gold

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mineweblogo4

“India’s Finance Minister P Chidambaram has appealed to the people, once again, to moderate their demand for gold. While insisting that the government would not rule out a complete ban on gold imports, as has been discussed in some quarters, he pointed out the precious metal has cost the nation $50 billion in foreign exchange. Stating that there is a long time attachment to gold in India, the minister asked, ‘… can we for sometime moderate the demand for gold?’ Asking investors to cut down on their purchases as a starting point, Chidambaram suggested buying 10 grams of gold if one was inclined to buy 20 grams of gold.”

http://www.mineweb.com/mineweb/content/en/mineweb-whats-new?oid=197982&sn=Detail

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Medical research on animals often biased, scientists warn

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“Researchers examined 160 previously published meta-analyses of 1,411 animal studies on potential treatments for multiple sclerosis, stroke, Parkinson’s disease, Alzheimer’s disease and spinal cord injury, all done on more than 4,000 animals. Just eight showed evidence of strong, statistically significant associations using evidence from more than 500 animals. Only two studies seemed to lead to ‘convincing’ data in randomized controlled trials in humans, it said. The rest showed a range of problems, from poor study design, to small size, to an overarching tendency toward publishing only studies in which positive effects could be reported.”

http://www.rawstory.com/rs/2013/07/16/medical-research-on-animals-often-biased-scientists-warn/

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FDA approves first brain wave test for ADHD

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“US regulators on Monday approved the first brain wave test for attention deficit hyperactivity disorder, saying it may improve the accuracy of diagnoses by medical experts. Cases of ADHD are on the rise in the U.S., as are the number of prescriptions for stimulants doled out to young people who appear to have difficulty concentrating or controlling impulses. The new test, known as the Neuropsychiatric EEG-Based Assessment Aid (NEBA) System, measures electrical impulses given off by neurons in the brain. ‘The theta/beta ratio has been shown to be higher in children and adolescents with ADHD than in children without it,’ the FDA said.”

http://www.rawstory.com/rs/2013/07/15/u-s-approves-first-brain-wave-test-for-adhd/

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Oregon: Jesus Malverde Medallion Did Not Justify Traffic Stop

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“The Oregon Court of Appeals on Thursday rejected the argument that an image of Jesus Malverde in an automobile is suspicious enough to warrant a search for drugs. When Trooper Wells came to the window to ask Manuel Meza-Garcia for his license and registration, the trooper’s suspicion was heightened after he noticed something near the windshield.  The appellate judges refused to consider the medallion as evidence and instead rejected the other assertions police used to search Meza-Garcia. The trooper insisted it was inherently suspicious to have two people driving with two cell phones north on I-5 without visible luggage.”

http://www.thenewspaper.com/news/41/4116.asp

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How the Federal Reserve Just Hid Important Data

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“One of the most important data points released by the Federal Reserve has been the amount of excess reserves sitting at the Federal Reserve. This is important data because these reserves are sitting at the Fed and not in the economy bidding up goods and service. If banks start pulling this money out of the Fed and making loans with the money, the money supply will explode, as well as price inflation. This must be watched closely. But notice something about this chart, the chart title says the series is discontinued. Got that? One of the most important data points is no longer reported by the Federal Reserve.”

http://www.economicpolicyjournal.com/2013/07/how-federal-reserve-just-hid-important.html

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Fox commentator was paid $50,000 to tout stock

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“Most investors can’t tell the difference between ‘sponsored investment research’ and independent analysis, and that’s exactly what the ‘sponsors’ — typically small companies paying for a marketing campaign that will inflate their stock activity and value — are counting on. The difference gets even tougher to figure out when the sponsor hires someone who is known for giving independent commentary colored only by his own feelings and research.  Last week, that bought-and-paid-for stock endorsement was a 20-page mailer about Petrosonic Energy, supported by an email campaign, featuring Tobin Smith, a regular on the Fox networks.”

http://www.marketwatch.com/story/fox-commentator-paid-50000-to-tout-stock-2013-06-18

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Remember “8 Pressure Stock Pitches Stockbrokers at John Thomas Financial Might Use on You”?

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EPJ13

“John Thomas Financial, the beleaguered Wall Street brokerage firm founded by celebrity broker Tommy Belesis, has fallen so far it’s now six feet under. The formerly high-flying brokerage firm, which once boasted attendants in its office bathroom and ties to famed film director Oliver Stone, filed termination requests with federal and state regulators.  In March, the SEC filed a lawsuit against Belesis and George Jarkesy, a Houston radio host, accusing them of deceiving investors of a hedge fund allegedly controlled by Belesis.  In April, Finra filed a complaint accusing Belesis of selling the brokerage firm’s shares ahead of clients and intimidating and harassing brokers.”

http://www.economicpolicyjournal.com/2013/07/remember-8-pressure-stock-pitches.html

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A Congregation of Liars: The U.S. Government

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“Put aside for a moment that this massive, secret surveillance of all of our emails, phone calls and financial records violates our constitutional rights. I have commented about that before. I want you to consider what a government of lies means to each of us, and to America’s future, when our government officials, led by the president of the United States, routinely lie to us, intentionally and repeatedly. At worst, this destroys whatever trust we have in a government that now controls much of our lives. It engenders fear, disrupting our personal ability to plan our lives, our businesses and to move forward. Living under lies means we can never be certain about our future.”

http://sovereign-investor.com/2013/07/10/a-congregation-of-liars/

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