Tag Archives: History Repeating

‘Production Versus Plunder’ Part 19: Life in the New Empire

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“Plato goes on: ‘Not in the present generation… there is no way of accomplishing this; but their sons may be made to believe in the tale, and their sons’ sons, and posterity after them.’ This is precisely what was done in medieval Europe. The people were made to believe something that did not come naturally to them – and it enslaved their minds for a thousand years. And, to an extent, this idea remains. This formulation of Plato and his empire has strongly contributed to the gut feeling of many mixed-race people that they are somehow inferior. The amount of human suffering caused by this giant lie has been astronomical.”

http://www.thedailybell.com/editorials/36462/Paul-Rosenberg-Production-Versus-Plunder-Part-19-Life-in-the-New-Empire/

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Our Immigration System Is Leaving Iraqi and Afghan Translators to Die

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“The news media’s focus on illegal immigration prevents crucial dialogue on something more important: legal immigration.  Launched in 2007, the Special Immigrant Visa (SIV) program provides visas to Iraqi and Afghan interpreters who face an ‘ongoing serious threat’ in their own countries because of the ‘faithful and valuable service’ they rendered to the U.S. government. It is a straightforward program with bipartisan support.  However, SIV is a bureaucratic mess; restrictions and backlogs have stranded former U.S. allies overseas, where they and their families are targeted for harm even though they were promised visas as part of their recruitment.”

http://fee.org/anythingpeaceful/detail/our-immigration-system-is-killing-our-allies

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Ron Paul: Do We Need to Bring Back Internment Camps?

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“Last week, Retired General Wesley Clark, who was NATO commander during the US bombing of Serbia, proposed that ‘disloyal Americans’ be sent to internment camps for the ‘duration of the conflict.’ Discussing the recent military base shootings in Chattanooga, TN, in which five US service members were killed, Clark recalled the internment of American citizens during World War II who were merely suspected of having Nazi sympathies. He said: ‘back then we didn’t say ‘that was freedom of speech,’ we put him in a camp.’  He called for the government to identify people most likely to be radicalized so we can ‘cut this off at the beginning.’ That sounds like ‘pre-crime’!”

http://www.thedailybell.com/editorials/36439/Ron-Paul-Do-We-Need-to-Bring-Back-Internment-Camps/

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Ron Paul’s Foreign Policy of Peace Is Central to the Message of Freedom

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“Ron calls upon the peoples of the world to resist their governments’ calls to war and to refuse to take part in violent conflict. ‘If the authoritarians continue to abuse power in spite of constitutional and moral limits,’ he writes, ‘the only recourse left is for the people to go on strike and refuse to sanction the wars and thefts. Deny the dictators your money and your bodies…. The more this is a worldwide movement, the better.’ When people read Swords into Plowshares generations from now – and they will – they will marvel that such a man actually served in the US Congress, and defied every campaign of war propaganda right on the House floor.”

https://mises.org/library/ron-pauls-foreign-policy-peace-central-message-freedom

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Uber vs. the State, 1851 Edition

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“But, they insisted, they weren’t arguing in favor of a monopoly in the ferry business — no, they pointed out that their permit actually required them to run more frequent ferries if demand so warranted.  Therefore there was no danger of a monopoly, because they could be trusted to operate more ferries if need be. This proved that there was no necessity for a new ferry company to compete against them, and that the government should not have granted the second company a permit.  This is precisely the same argument made today by existing taxi monopolists who oppose the introduction of Uber and other ride-sharing companies.”

http://fee.org/anythingpeaceful/detail/uber-vs-the-state-1851-edition

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J.P. Morgan makes it easier for rich to take out mortgages

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“J.P. Morgan Chase & Co. is loosening its underwriting criteria for big mortgages, as lenders ramp up competition to grab a bigger share of the high-end housing market.  The nation’s largest bank plans to announce as soon as Tuesday that it is lowering the minimum credit score and down payment it requires for mortgages as big as $3 million.  At the same time, some big banks are backing away from smaller loans where they see higher regulatory costs and litigation risks.  By dollar volume, jumbo mortgages given out by lenders last year accounted for about 20% of all first-lien mortgages. That is up from 5.5% in 2009. The last time jumbo mortgages accounted for a larger share was in 2005.”

http://www.marketwatch.com/story/jp-morgan-makes-it-easier-for-rich-to-take-out-mortgages-2015-08-04

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The Next Financial Disaster Starts Here

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“Because junk bond ETFs appear liquid, most investors don’t see the danger. They think they can sell their junk bonds ETFs just as easily as they could sell shares of Apple.  But if too many people decide to sell junk bonds at once, it could overwhelm the market and cause prices to crash.  None of this has been a problem yet because junk bonds have been in a bull market. According to Bank of America, junk bonds have gained 149% since 2009.  But all bull markets eventually end. And when this one ends, junk bonds could cause massive losses to investors who don’t know about these risks.”

https://www.caseyresearch.com/articles/the-next-financial-disaster-starts-here

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Hedge Funds Gear Up for Another Big Short: High-Yield Bonds

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“Wall Street is preparing for panic on Main Street.  Hedge funds are lining up to profit from potential trouble at some ‘alternative’ mutual funds and bond exchange-traded funds that have boomed in popularity among retirees and other individual investors.  Financial advisers have pushed ordinary investors into those funds in search of higher returns, a strategy that has come into favor as Federal Reserve benchmark interest rates remain near zero. But many on Wall Street worry that junk bonds, bank loans and esoteric investments held by some of those funds will be extremely hard to sell if the market turns, leaving prices pummeled in a rush for the exits.”

http://www.wsj.com/articles/hedge-funds-gear-up-for-another-big-short-1437504910

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The Skinny on Breadth

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“Jason Goepfert at Sundial Capital points out that more than half of the stocks in the S&P 500 are already down by more than 10% from their 52-week highs. In essence, he says, the vaunted, long awaited, 10% decline has already been visited on a majority of stocks, but it just hasn’t been reflected in indexes. This is a remarkable number of stocks off 10% from their highs when you consider the S&P 500 itself was less than 3% from its 52-week high before it bottomed on Monday. To see how unusual this is, check out Goepfert’s chart above. It shows the number of stocks in the S&P 500 that are 10% or more below their 52-week high while the S&P 500 index itself was within 3% of its own high.”

http://www.moneyandmarkets.com/skinny-breadth-72613

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Greek bank stocks hammered again

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“Stocks have fallen to roughly the level they were at in 1990 and, while not as low as they were in 2012, are some 52 percent down on last year’s high. Greece said it expects to conclude a bailout deal with international lenders by Aug. 18. It has been estimated by both the banks themselves and the creditors that between 10 billion and 25 billion euros ($11 billion-27.5 billion) is needed to recapitalizes Greek banks. The economy, meanwhile, has reversed course and is heading back into recession. A survey on Monday showed Greek manufacturing activity plunged to a record low as new orders plummeted and the three-week bank shutdown caused serious supply problems.”

http://www.reuters.com/article/2015/08/04/us-eurozone-greece-stockmarket-idUSKCN0Q90NU20150804

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