Tag Archives: Bullshit Artists

The Pension Rate-of-Return Fantasy

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“In June of 2012, Calpers lowered the expected rate of return on its portfolio to 7.5% from 7.75%. Calpers had last dropped the rate in 2004, from 8.25%. But even the 7.5% return is fiction. Wall Street would laugh if the matter weren’t so serious.  And the trouble is not just in California. Public-pension funds in Illinois use an average of 8.18% expected returns. The 100 top U.S. public companies with defined benefit pension assets of $1.3 trillion have an average expected rate of return of 7.5%. Three of them are over 9%. (Since 2000, these assets have returned 5.6%.) Who wouldn’t want 7.5%-8% returns these days? Ten-year U.S. Treasury bonds are paying 1.74%.”

http://online.wsj.com/article/SB10001424127887324100904578403213835796062.html

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The Obamacare Nightmare Will Officially Start October 1

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“What’s really going on here is a program that attempts to suck in the youth to pay for the healthcare  of the elderly. It’s insane. On top of that, the first year penalty for not buying insurance is small ($95), so most young will opt out, meaning the revenue to support the structure will have to come from massive premium hikes paid by those older who opt to stay in the system. There is no other way out if Obamacare goes into effect. Well, there is one way out. According to Emanuel:  ‘The president connects with young people, too, so he needs to use that bond and get out there to convince them to sign up for health insurance to help this central part of his legacy.'”

http://www.economicpolicyjournal.com/2013/05/the-obamacare-nightmare-will-officially.html

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President Obama: Reject Warnings of Tyranny

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President Obama: Reject Warnings of Tyranny

“This is a startling video clip because in it US President Barack Obama bluntly confronts the reality of the current US conversation in which up to 30 percent (according to one recent poll) believe armed rebellion will be a necessity in the near future. Here at The Daily Bell, of course, we try to focus on dominant social themes from an economic and civil society standpoint. Surely the growing anger in the US – and throughout the West – must be a concern for those who have helped shape the current society … even though you rarely hear a leader address these concerns so bluntly.”

http://www.thedailybell.com/30645/President-Obama-Reject-Warnings-of-Tyranny

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The Cyprus Depositor Haircut

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“The manager told him not to worry, saying the deposit insurance was per account, not per person. She added: ‘We just put your name on the account so your wife wouldn’t take money out without your consent.’ Remembering that in the 1980s his British building society had played down the risks of taking out an endowment mortgage, Demetriou asked if they were 100 per cent sure. He was told they were. The advice was 100 per cent wrong. The deposit insurance is per person, not per account. Soon afterwards, the banks closed for more than a week, and when they reopened, he’d been stripped of 44 per cent of his savings.”

http://www.lrb.co.uk/v35/n09/james-meek/the-depositor-haircut

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Bill Bonner: Fed’s QE has not created one single extra job

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BillBonner

“Our central banks are engaged in a breathtaking program of activism. We don’t know where it will lead. But, from the historical record, activism and central banking go no better together than drinking and driving. Keep it up long enough and you’re bound to have an accident. But the accident hasn’t happened yet. So most people have stopped worrying about it. They smell the liquor on the driver’s breath. But they get on the bus anyway.  The most reckless driving in central bank history…raising the footings of the US financial system by a factor of 5 times…from $800 billion to $4 trillion…and it has not resulted in one single extra job.”

http://www.equitymaster.com/dailyreckoning/detail.asp?date=05/02/2013&story=1&title=Feds-QE-has-not-created-one-single-extra-job

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Jay Leno’s Gitmo Solution

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Jay Leno’s Gitmo Solution

“President Obama held a press conference earlier today, and he said he still wants to close the Guantanamo Bay prison facility, but he doesn’t know how to do it. He should do what he always does: declare it a small business and tax it out of existence. It will be gone in a minute. Be gone in a minute! One month! Be out of there!”

http://teapartyeconomist.com/2013/05/02/jay-lenos-gitmo-solution/

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Michael Scheuer: Limbaugh, Levin, and Hannity eager to see more dead Americans

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Non-Intervention-Text-and-Logo-Header-Two-Logos2

“You will never hear directly from the mouths of Rush, Mark, and Sean what they are implicitly telling Americans; that is, that they hate virtually everything the Founding Fathers thought and prescribed for U.S. foreign policy — in short hand, do not stick your nose in other peoples’ affairs in which you have no interest — and that they do not mind how many Americans get killed as long as Washington keeps pursuing the interventionist foreign policy they believe benefits their friends overseas and their benefactors at home.”

http://non-intervention.com/1108/why-are-limbaugh-levin-and-hannity-so-eager-to-see-more-dead-americans/

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Argentina’s Mad Dash for U.S. Dollars

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“If you find yourself driving through the suddenly packed condo canyons of Miami—lamenting not having bought during the property crash—shake a fist or two at the Argentines. So many of them ponied up 80 percent cash down payments on units that South Florida’s condo depression rather abruptly turned into another boom. Their thinking was defensive: Swap iffy pesos for dollars and store that value in U.S. property, out of the prying hands of the government back home.  Now, with Buenos Aires finding some rather innovative ways to crack down on the flight to dollars, that spirit of capital preservation has morphed into a panic.”

http://www.businessweek.com/articles/2013-04-28/argentina-s-mad-dash-for-u-dot-s-dot-dollars#r=read

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Labour joins Tories in blocking UK Independence Party members from debates

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“Labour leader Ed Miliband wants to block the UK Independence Party from having a role in the TV leader’s debates, it emerged today.  The Tories were already opposed to the idea of giving UKIP leader Nigel Farage equal status ahead of the 2015 general election.  Labour had thought UKIP would only damage the Tories’ election hopes.  But strategists now fear UKIP’s ‘brand of anti-politics could damage all three main parties in unpredictable ways,’ The Guardian reported.”

http://www.dailymail.co.uk/news/article-2316704/Labour-joins-Tories-block-UK-Independence-Party-members-appearing-TV-leader-s-debates.html

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Did the Southern Poverty Law Center Instigate an Attempted Murder?

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thelrcblog-5002

“The man arrested for shooting a security guard at the Family Research Council headquarters in Washington, D.C. has said in court that he got the idea by reading the Southern Poverty Law Center’s ‘Hate Map.’ Interestingly, every time there’s a multiple shooting the Southern Poverty Law Center is the first to spread the (baseless) rumor in the media that the shooter is ‘thought to have links to right-wing hate groups.’  There is no group of individuals more devoted to spreading hate and intolerance than the Southern Poverty Law Center.  Their schtick is to label anyone who disagrees with their left-wing extremism as a ‘hate group’ or ‘linked to’ a hate group.”

http://www.lewrockwell.com/blog/lewrw/archives/136864.html

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