Tag Archives: Perverse Incentives

Gun Shoppers Stock Up Before California Long Gun Registry Begins

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“A new gun law coming in 2014 has gun owners stocking up on long guns before a new registry begins.  Even though the law is at least temporarily boosting his bottom line, Just Guns owner John Deaser isn’t a fan. He says requiring people to register their rifles and shotguns is an unnecessary invasion of privacy.  In the last week of 2013, he says sales of long guns are up 30 to 50 percent.  The registry goes into effect on Jan. 1, and would require long gun owners to register their weapons like handgun owners already do. It would track the make, model and serial number of the gun, as well as the person who owns it.”

http://sacramento.cbslocal.com/2013/12/27/shoppers-stock-up-on-rifles-shotguns-before-california-long-gun-registry-begins/

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Bill Bonner: Is Bad News Good News for US Stocks?

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Bill-Bonner2

“Everyone knows that even a little cutback in the Fed’s buyback program should mean falling stock and bond prices.  A trillion dollars a year is a lot of money – in fact, it’s 7% of GDP. Imagine a corporation with annual revenue of $100 billion. Imagine that it buys back its own shares at the rate of $7 billion a year. Then try to imagine what would happen to the share price when the largest single buyer drops out.  It doesn’t take a genius to figure it out. Even Fed economists can see it. That’s why they won’t taper. And everybody knows it.  That’s why bad news is now good news. And good news is good news. Everything Is Good News!”

http://www.bonnerandpartners.com/is-bad-news-good-news-for-us-stocks/

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Bitcoin to Congress: Back Off

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“Bitcoin’s representatives are appearing before Congress this week for a first-ever series of hearings into the crypto-currency. And they’ve got a message for the array of D.C. lawmakers and regulators looking to tame Bitcoin: If the government’s attempts to oversee the digital currency are too harsh or intrusive, Bitcoin users easily could go offshore or underground — and then no one in Washington will be able to control what they do.  Representatives from the Justice Department and the International Centre for Missing & Exploited Children also said the possibility of Bitcoin companies moving offshore would make it harder for U.S. authorities to find and prosecute illegal activity.”

http://blog.foreignpolicy.com/posts/2013/11/17/bitcoin_to_congress_back_off

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Not exactly the brightest way to smuggle gold…

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“Because of its traditional gold ties, regional commerce, and generous transportation options, Thailand has now become a major transit point for international gold smuggling destined for India.  The World Gold Council recently released its quarterly data on global gold trends, and the numbers are very clear: India’s gold demand cratered, dropping 32% because of the restrictions.  In Thailand, however, gold demand is up 125% from the 3rd quarter of 2012.  I’ve noticed this on the ground; there’s been a surge of gold shops and new inventory in the marketplace, particularly the small ‘biscuit’ bars that are easier to smuggle.  Much of this is bound for India.”

http://www.sovereignman.com/offshore/not-exactly-the-brightest-way-to-smuggle-gold-13193/

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ZenoRadio, a Poor Man’s Pandora, Is Booming

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“A loophole in the Telecommunications Act of 1996, originally intended to help compensate rural carriers, allows the company to receive a few cents for every five minutes or so that a customer listens to the station. The exact amount depends on the carrier, but for the most part, it’s only a few cents. But multiply that by close to a million customers—listening for hours a day—and revenue starts pouring in. The loophole works when calls are routed through rural phone companies. Experts say changes in telecommunications technology have allowed rural carriers to turn this into a profit center by partnering with providers of services like free conference calling and radio.”

http://www.cnbc.com/id/100746807

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Obamacare Restrictions Lead Brooklyn Couple To Consider Divorce

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“‘After Obamacare has rolled out, we realized that we would save thousands of dollars if we got divorced,’ Aronowitz said.  The issue for Aronowitz and Cassara is that together as family of only two, they make more than the $62,000 level to qualify for subsidies under the Affordable Care Act. But if they lived together unmarried, they would qualify for the subsidies and could literally save hundreds of dollars a month on their health care.  A single person can qualify for subsidies if they make less than $46,000 a year.”

http://newyork.cbslocal.com/2013/11/06/obamacare-restrictions-lead-brooklyn-couple-to-consider-divorce/

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New Obamacare tax could hit veterinarians, increase pet care costs

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“Dr. John Beltz and his veterinarian partner bought a new drug dispensing device this year that used to cost about $45,000 — but this time it cost $4,000 more.  The manufacturer told him the reason for the 9 percent price hike was a new tax contained in the Affordable Care Act, said Beltz, co-owner of Wisconsin Veterinary Referral Center of Racine, 4333 Old Green Bay Road.  Although Beltz is now keenly aware of the new tax on some medical devices, other veterinarians are just starting to wake up to it. The American Veterinary Medical Association, or AVMA, is trying to educate its 84,000 members about this.”

http://journaltimes.com/news/local/new-obamacare-tax-could-hit-veterinarians-increase-pet-care-costs/article_4fd7755a-953f-11e2-9b50-001a4bcf887a.html

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Undercover agents made over 100 Silk Road purchases, tested ‘high purity’

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“Since November 2011, law enforcement agents have made over 100 undercover purchases of illegal substances from Silk Road vendors, both from and shipped to the Southern District of New York, including heroin, ecstasy, and cocaine. The document states that their samples, which came from 10 different countries, ‘have been laboratory-tested and have typically shown high purity levels.’  At the time of Ulbricht’s arrest, there were 13,000 listings for controlled substances on Silk Road.  If you’d like to claim some of the bitcoins as your own, you can do that easily enough at the hearings. Good luck proving your transaction was one of the legal ones.”

http://www.dailydot.com/crime/silk-road-forfeiture-complaint-ulbricht/

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Silk Road and the potential to disrupt a truly evil industry

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“The FBI admitted that Silk Road vendors provided high quality drugs. And the prices were far below the street.  Based on advanced Internet technologies, it was able to create a protected market that kept money out of the hands of violent street gangs and international criminal syndicates. It also protected buyers (lots of US citizens) from the poisons that adulterate street drugs.  If it had grown large enough, Silk Road, or a collection of similar online services, would have begun to seriously challenge the revenues of local and international mobsters on a scale that the war on drugs has consistently failed to do.”

http://www.zdnet.com/silk-road-and-the-potential-to-disrupt-a-truly-evil-industry-7000021498/

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As Congress fights over budget, federal agencies go on shopping sprees

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“This past week, the Department of Veterans Affairs bought $562,000 worth of artwork.  In a single day, the Agriculture Department spent $144,000 on toner cartridges.  And, in a single purchase, the Coast Guard spent $178,000 on ‘Cubicle Furniture Rehab.’  Private contractors — worried that sequestration would result in a smaller spending rush this year — brought in food to keep salespeople at their desks. Federal workers quizzed harried colleagues in the hallways, asking if they had spent it all yet.  Three years’ worth of staples. Portable generators that never got used. One said the National Guard bought so much ammunition that firing it all became a chore.”

http://www.washingtonpost.com/politics/as-congress-fights-over-the-budget-agencies-go-on-their-use-it-or-lose-it-shopping-sprees/2013/09/28/b8eef3cc-254c-11e3-b3e9-d97fb087acd6_print.html

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