“Mark Dice asks California beach goers if they’ll sign a petition showing support for Obama in his quest to repeal the Bill of Rights.”
“The taped conversations, obtained by the Irish Independent newspaper, between John Bowe and Peter Fitzgerald, who led Anglo-Irish’s capital markets and retail banking arms, respectively, indicate the Irish government was duped into pumping €7 billion of emergency cash into the bank on the assumption that it would plug the lender’s funding crisis. But the €7 billion figure was just a ruse to get the government to put ‘some skin in the game,’ with the bankers assuming that politicians would have no choice but to provide further emergency funding once they had been ‘pulled in’.”
http://euobserver.com/economic/120634
“The Bitcoin Foundation is defending the virtual currency to California’s banking department, explaining bitcoin doesn’t qualify as a payment instrument under the state’s money-transmission rules. In a lengthy letter addressed to Tara Murphy, an assistant attorney general in the California Department of Financial Institutions, the Washington-based group also stuck up for itself, saying it doesn’t sell or exchange the virtual currency. California is known to be particularly aggressive in enforcing money-transmission rules. In the letter, the foundation made it clear that it doesn’t even operate in California.”
http://blogs.wsj.com/moneybeat/2013/07/05/bitcoin-trade-group-bites-back-at-california/
“A senior Chinese official said on Friday that the government did not know precisely know how much debt local governments had built up and warned that it could be more than previous estimates. Estimates of local government debt range from Standard Chartered’s 15 percent of the country’s GDP at end-2012 to Credit Suisse’s 36 percent. Fitch put the figure at 25 percent when it downgraded China’s sovereign debt rating in April. Vice Finance Minister Zhu Guangyao said China had not released official figures since a 2010 auditing report that put local government debt at 10.7 trillion yuan.”
http://www.thedailybell.com/29352/Now-They-Tell-Us-China-Debt-Levels-Unknown
“As of Thursday afternoon, over 400 people had indicated on a Facebook event page that they would be attending the ‘Block Party to Fight Austerity at Rahm’s House.’ ‘Let’s gather at Chase Park (Ashland and Leland) at noon, then march over to Rahm Emanuel’s house for a street dance party to celebrate citywide resistance to budget cuts and other austerity measures that hurt poor and working people in order to make the super-rich even richer,’ the organizers wrote. ‘At a time when working people are already struggling to make ends meet, Mayor Emanuel is eliminating thousands of jobs across the city every year,’ organizer Greg Goodman explained to the station.”
“Wisconsin and more than a dozen other states have protections in place to keep parents who choose prayer over medical attention from being charged with child abuse. The Neumanns’ attorneys maintain that the law protects parents up through the creation of a potentially lethal situation, making the line where faith-healer parents cross over into criminal liability a blurry one. An Neumann family attorney told the AP that the couple is ‘devastated’ by the decision. ‘They’re still mourning the loss of this child,’ said Dale Neumann’s defense lawyer Steven L. Miller. ‘From their perspective they felt they were acting in a legal manner.'”
“When was the last time you saw a Jiffy Lube tear gas everyone who refused to stop in? Have you ever seen a Chiropractor driving down the street shooting water cannons at people who refused his services? Every single person could make a decision that ‘I’ll never go to Jiffy Lube as long as I live,’ and Jiffy Lube could do nothing about it. Should that decision be made by everyone, it would have no choice but to close its doors. No pickets….No chants….No fairy tales like ‘making your voice heard’ or ‘the will of the people’. No injuries, arrests or tanks trampling over bodies. Just a simple decision not to interact…not to exchange…not to associate.”
http://www.economicpolicyjournal.com/2013/07/egypt-what-shame.html
“Richard Fisher, president of the Dallas Federal Reserve and a member of the rate-setting Federal Open Market Committee, said in an interview with the Financial Times that while the big players in financial markets acted like ‘feral hogs’ by scenting any weakness in policy makers’ intent, he did not think anyone could break the US central bank. Commenting on the market turbulence that has followed Fed chair Ben Bernanke’s signal that the bank could begin tapering its $85bn monthly bond purchases before the end of this year, Fisher told the FT: ‘My personal feeling is that you don’t walk up to a lion and flinch.'”
http://www.economicpolicyjournal.com/2013/06/fomc-member-warns-off-feral-hogs-in.html
“ROBIN HARDING. Mr. Chairman, you’ve always argued that it’s the stock of assets that the Federal Reserve holds which affects long-term interest rates. How do you reconcile that with a very sharp rise in real interest rates that we’ve seen in recent weeks? And do you think the market is correctly interpreting what you think is most likely to be the future path of the Federal Reserve’s stock of assets? Thank you. CHAIRMAN BERNANKE. Well, we were a little puzzled by that. It was bigger than can be explained I think by changes in the ultimate stock of asset purchases within reasonable ranges. So I think we have to conclude that there are other factors at work…”
http://www.economicpolicyjournal.com/2013/06/fed-chairman-bernanke-admits-fed-has-no.html
“Ben Bernanke and the Fed are out with their latest happy talk economic projections. They project the economy will grow by 2.3 to 2.6 percent, in real terms, in the fourth quarter of 2013 relative to the fourth quarter of 2012. That speeds up to 3.0 to 3.5 percent in 2014 and 2.9 to 3.6 percent in 2015. Unemployment also is projected to fall, hitting 5.8 to 6.2 percent in 2015, all while inflation stays below 2 percent. The chart put together by WaPo shows how abysmal the Fed’s actual forecasts have been (and this is not counting the Fed missing the housing crash or the overall financial crisis).”
http://www.economicpolicyjournal.com/2013/06/this-graph-shows-how-bad-fed-is-at.html