Tag Archives: Bullshit Artists

Obama announces new power plant regulations, to cost $8.4 billion

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“In its fact sheet, the White House argues the new rules will create tens of thousands of jobs while ensuring grid reliability.  According to the White House, if the rule is implemented in all 50 states, the average American family can save $85 on their annual energy bill in 2030, though critics say it will raise energy bills.  EPA Administrator Gina McCarthy, drew from her Boston background and called the rollout ‘an especially wicked-cool moment.’  A day earlier, she said the rule would result in an estimated annual cost of $8.4 billion by 2030 and have total benefits, including public-health benefits, of $34 billion to $54 billion per year by then.”

http://www.foxnews.com/politics/2015/08/03/obama-announces-power-plant-regulations/

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Filmmakers fighting “Happy Birthday” copyright find their “smoking gun”

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“Warner/Chappell has built a licensing empire based on ‘Happy Birthday,’ which in 1996 was pulling in more than $2 million per year. [..] An important line of text published underneath the song’s lyrics was ‘blurred almost beyond legibility’ in the copy that Warner/Chappell handed over in discovery. Plaintiffs’ lawyers note that it’s ‘the only line of the entire PDF that is blurred in that manner.’  Plaintiffs acquired their own copies of the songbook, including a first edition published in 1916, which didn’t have the song, and versions published 1922 and later, which include it without a copyright notice.”

http://arstechnica.com/apple/2015/07/filmmakers-fighting-happy-birthday-copyright-find-their-smoking-gun/

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Spain’s Podemos Backtracks on Aim to Restructure Spanish Public Debt

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“Spanish anti-austerity party Podemos backtracked on a pledge to restructure the country’s public debt, saying it may not be needed.  ‘In Spain, putting an end to austerity doesn’t imply a unilateral debt restructuring — it’s not necessary,’ Nacho Alvarez, head of economic policy for Podemos, told reporters in Madrid. Instead, the party is looking at private debt relief, including a possible restructuring of household mortgage debt, he said.  Podemos’s leader Pablo Iglesias previously highlighted the need to restructure Spain’s 1.1 trillion euros ($1.21 trillion) of debt, matching rhetoric from his allies in Greece’s Syriza party as he primes his new party to fight elections later this year.”

http://www.bloomberg.com/news/articles/2015-07-14/podemos-backtracks-on-aim-to-restructure-spanish-public-debt

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Bank of Canada Admits Recession, The Solution: More Bubbles

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“What made the Canadian recession easy to spot was the Canadian yield curve inverted out to three years following a surprise rate cut by the Bank of Canada on January 21.  It remains to be seen if the US follows. The US contracted in the first quarter, but the second quarter rebound was a bit stronger than I expected.  I awarded Canada the ‘Blue Ribbon’ for the first yield curve inversion of any major country following the great financial crisis. I smell an ‘Operation Twist‘ type move by the Canadian central bank to rectify this horrific ‘recession-signaling’ condition.  If so, the sweet spot for banks and hedge funds to front-run the trade appears to be 5Y or 7Y notes.  Some banks may already be in on it.”

http://globaleconomicanalysis.blogspot.com/2015/07/bank-of-canada-admits-recession-shades.html

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Greece’s New Finance Minister: Bitcoin ‘Highly Problematic Currency’

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“The Finance Minister of Greece’s new radical left-wing government, while at the center of anti-austerity financial policy, is in no way optimistic about Bitcoin, it has emerged.  In an article on his website blog from April 2013, Yanis Varoufakis discusses the ‘impossibility’ of a decentralized currency being controlled ‘apolitically,’ and describes this as a ‘dangerous fantasy.’  He stated: ‘[T]here can be no de-politicized currency capable of ‘powering’ an advanced, industrial society.’  Varoufakis has inherited Europe’s worst-performing economy, and will seek to end the austerity measures put in place by the previous Greek government following the 2008 financial crisis.”

http://cointelegraph.com/news/113380/greeces-new-finance-minister-bitcoin-highly-problematic-currency

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Feds Cry Wolf, Again

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“Why has the FBI said nothing about these alleged arrests? Whom did they arrest, on what evidence, and what criminal charges followed? We don’t know and the FBI won’t say. In the United States, all arrests are supposedly public record. Federal law enforcement agencies must present prisoners to a magistrate within 72 hours of arrest. News media routinely watch court blotters for anything of interest. A July 4 terrorism plot would certainly have been interesting. Yet we heard nothing about such arrests. You can bet the feds would be chest thumping if they had busted any remotely plausible plots. So what happened? We have several possibilities.”

http://www.thedailybell.com/news-analysis/36412/Feds-Cry-Wolf-Again/

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Capital Controls and a Bank Holiday in Greece

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“When you hear a central banker or politician deny that something is going to happen to bank depositors, you can almost be certain that it will happen. And probably soon.  There’s a reason for the dishonesty. The government needs to take the public by surprise. Otherwise they won’t get the results they want from capital controls or a bank holiday.  Calling the experience a bank holiday is like calling a street mugging a surprise party.  Once the banks are closed – or on ‘holiday,’ as the government puts it – the politicians are free to help themselves to as much of the customer deposits (including yours) as they want. It’s like an all-you-can-steal buffet.”

http://www.internationalman.com/articles/capital-controls-and-a-bank-holiday-in-greece-heres-how-you-can-profit

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The End Game, or Just a Pause?

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“In true dramatic fashion, the Greek government submitted an 11th-hour proposal late yesterday that meets most creditor demands, in exchange for a new 53.5 billion euro bailout … Greece’s third since 2011.  In fact, details of the proposal, including spending cuts, pension reform and tax hikes, are nearly identical to the offer made by European creditors way back on June 26, which was summarily rejected by the Greek government, and then by voters in a July 5 referendum.  Hmm … the more things change, the more they stay the same.”

http://www.moneyandmarkets.com/end-game-just-pause-72130

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Texas Town Charging Reporters $79,000 for Emails About Cop Abuse

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“Days after McKinney, Texas, police officer Eric Casebolt was filmed pointing his service weapon at a group of unarmed black teenagers at a pool party this month, Gawker submitted a Public Information Act request to the city of McKinney asking to see Casebolt’s records and any emails about his conduct sent or received by McKinney Police Department employees. Today, we received a letter from the city’s attorneys claiming that fulfilling our request would cost $79,229.09.  Since when are year-old emails not searchable? Is the city of McKinney still corresponding via telegram?”

http://gawker.com/texas-city-is-charging-us-79-000-for-emails-about-pool-1714757746

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Insanity on the Thames

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“UK Prime Minister David Cameron is a seriously deluded man. First, he apparently believes Facebook and Twitter users currently have ‘absolute privacy’ in their communications. That is nonsense. Second, Cameron believes this nonexistent absolute privacy is unsustainable and intolerable. He wants to destroy it as soon as possible. This is necessary, Cameron told Parliament, because tolerating such privacy would ‘leave a safe space’ for terrorists to communicate with each other. Contrary to Mr. Cameron’s assurance, Britain certainly is trying to ‘search through everybody’s emails and invade their privacy.’ The U.S. government is doing the same.”

http://www.thedailybell.com/news-analysis/36397/Insanity-on-the-Thames/

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