Direct Link: http://www.youtube.com/watch?v=nhPqmJynQPU
"It’s not what you don’t know that disturbs me, it’s what you know that isn’t true!"
Another great representation of the amazing loss of purchasing power by the US public are today's oblivious statements about the Dow at 10,000. While in absolute terms the Dow may cross whatever the Fed thinks is a necessary and sufficient mark before QE begins to taper off (Dow crosses 10k just as Treasury purchases expire), the truth is that over the past 10 years (the first time the DJIA was at 10,000) the dollar has lost 25% of its value. Therefore, we present the Dow over the last decade indexed for the DXY, which has dropped from 100 to about 75. On a real basis (not nominal) the Dow at 10,000 ten years ago is equivalent to 7,537 today! In other words, not only have we had a lost decade for all those who focus on the absolute flatness of the DJIA, but it is also a decade where the US Consumer has lost 25% of purchasing power from the perspective of stocks! You won't hear this fact on the MSM.
And if you want to be really scared, here is the comparable representation for the DJIA in ounces of gold. It cost about 30 ounces to buy the 10,000 Dow last time. Now it costs less than 10.
From Ex-Soldier commenting on Claude Cartaginese’s One Scared Elderly Man is About to Make the Country Safer:
“A well regulated militia being necessary to the security of a free state; the right of the people to keep and bear arms shall not be infringed.”
Speaking as a veteran (20 years) social studies teacher in a public high school and as a former social studies Teacher of the Year (for my school), AND as a former US Army Officer, let me address this one:
“Well REGULATED MILITIA” A lot of folks seem to think this is referring to some sort of national guard as we understand that organization today. Yet that organization wasn’t even created until right before our involvement in WWI. In the days pertaining to the American Revolution, MILITIA meant ALL the people, bearing their own weapons. This fact is currently reflected in the state constitutions of several states. For example my home state of Florida has the organized militia and the UNORGANIZED militia ready for call up in the Constitution. This was actually used unofficially after Hurricane Andrew when it was a common sight to see citizens patrolling their own neighborhoods with slung AR15s or AK47s to deter looting and often chatting with local police — the cops took no action. WELL REGULATED doesn’t refer to a legal term of art, it is concerned with military logistics: Similar arms and ammunition.
“KEEP AND BEAR” equals OWN AND CARRY.
“ARMS” is a phrase that is quite interesting and it is no accident that it is used by the Founding Fathers. Do you think that the FIRST rifles were flintlock rifles or the sort used in the American Revolution? In face firearms technology had been evolving for over 300 years by that point. It would evolve again during the course of the war as the first rifled barrels started showing up, offering vastly increased range and accuracy. A new kind of soldier appeared with this new wrinkle: SNIPERS. That kind of marksman still makes his presence felt on today’s battlefields. This is why the UZI, the M4, the M60 and SAW and other types of military firearms fall under the 2nd Amendment. If you refer to the writings of the Founding Fathers, even in the Federalist Papers (#46) you will see clearly that if the infantry has it, the PEOPLE must have it too but in greater numbers! Does this include things like artillery or armed aircraft? Probably not under the 2nd Amendment. It seems clear that the weapons probably must be limited to those that can be handled by a single man rather than those requiring a team like a mortar. This why I am certain the 2nd covers my 1911A1 45 pistol today AND my hand PHASER tomorrow.
However, the artillery and other weapons of military might are covered under the Constitutional letters of Marque. Back in those days, this is what allowed the formation of the Privateers to prey upon British shipping. Just how do you think the private military companies (PMCs) like BLACKWATER get to operate helicopter gunships and much heavier weapons like vehicle mounted (electric) mini-guns? It’s all constitutional and I’m certain these so called PMCs all agree to not operate in regions or under employment conditions that are inimical to US interests. A Letter of Marque.
Where do you draw the line? I’m guessing nuclear weapons, nerve agent or biotoxins. But under one guise or another everything else is allowed. Using a letter of Marque, a company like BLACKWATER (or as they’re currently known in the military or merc community: THE KNIGHTS WHO SAY XE! If you remember Monty Python) could operate an aircraft carrier if they could afford one. Including all the aircraft and ordnance of said carrier.
“Ordinary citizens” shall not be debarred the use of any squad level military weapon under the 2nd Amendment. Some folks have mentioned the inherent instability of military explosives. I myself have cooked food using a small square of military C4 plastic explosive. Not unstable. AT ALL. What about so called “napalm?” Easily concocted using TIDE detergent and gasoline. The military uses the M110 fuel thickener, but it amounts to the same thing.
The real purpose of the 2nd Amendment is to keep our own government from gettin’ too big for their britches as seems to be the case, currently. No wonder the liberals are all exercised over the 2nd Amendment. They want to hang onto their power. Armed citizens are definitely a threat to tyranny.
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Sen. Barbara Boxer’s climate bill set to be released today contains a provision that will compensate General Electric quite nicely for its lobbying and media efforts promoting climate legislation.
Section 821(c) requires that, by December 12, 2012, the EPA set standards for greenhouse gas emissions from “new aircraft and new engines used in new aircraft.”
General Electric is the world’s largest manufacturer of commercial and military jet engines, a business worth about $12 billion in annual revenues.
So the Boxer bill would compel airlines and the military, when purchasing new aircraft and new aircraft engines, to purchase more expensive “green” engines made by GE, according to standards set by the current and GE-lobbied Obama administration.
TVNewser has learned CNN correspondent Susan Roesgen's contract will not be renewed and she will be leaving the network.
It didn't take long to run into an "uh-oh" moment when reading the House's "health care for all Americans" bill. Right there on Page 16 is a provision making individual private medical insurance illegal.
When we first saw the paragraph Tuesday, just after the 1,018-page document was released, we thought we surely must be misreading it. So we sought help from the House Ways and Means Committee.
It turns out we were right: The provision would indeed outlaw individual private coverage. Under the Orwellian header of "Protecting The Choice To Keep Current Coverage," the "Limitation On New Enrollment" section of the bill clearly states:
"Except as provided in this paragraph, the individual health insurance issuer offering such coverage does not enroll any individual in such coverage if the first effective date of coverage is on or after the first day" of the year the legislation becomes law.
So we can all keep our coverage, just as promised — with, of course, exceptions: Those who currently have private individual coverage won't be able to change it. Nor will those who leave a company to work for themselves be free to buy individual plans from private carriers.
From the beginning, opponents of the public option plan have warned that if the government gets into the business of offering subsidized health insurance coverage, the private insurance market will wither. Drawn by a public option that will be 30% to 40% cheaper than their current premiums because taxpayers will be funding it, employers will gladly scrap their private plans and go with Washington's coverage.
The nonpartisan Lewin Group estimated in April that 120 million or more Americans could lose their group coverage at work and end up in such a program. That would leave private carriers with 50 million or fewer customers. This could cause the market to, as Lewin Vice President John Sheils put it, "fizzle out altogether."
What wasn't known until now is that the bill itself will kill the market for private individual coverage by not letting any new policies be written after the public option becomes law.
The legislation is also likely to finish off health savings accounts, a goal that Democrats have had for years. They want to crush that alternative because nothing gives individuals more control over their medical care, and the government less, than HSAs.
With HSAs out of the way, a key obstacle to the left's expansion of the welfare state will be removed.
The public option won't be an option for many, but rather a mandate for buying government care. A free people should be outraged at this advance of soft tyranny.
Washington does not have the constitutional or moral authority to outlaw private markets in which parties voluntarily participate. It shouldn't be killing business opportunities, or limiting choices, or legislating major changes in Americans' lives.
It took just 16 pages of reading to find this naked attempt by the political powers to increase their reach. It's scary to think how many more breaches of liberty we'll come across in the final 1,002.

Yesterday The New York Times disclosed that one of its reporter's, David Rhode, had escaped from his Taliban captors after having been held for seven months. If you're scratching your head wondering if you've heard this story before you are not alone. The Times went to extraordinary lengths to keep this information from the public for the purposes of protecting the life of their employee.
Times Executive Editor Bill Keller said this to Howard Kurtz:
"We agonized over [the decision to suppress the news] at the outset and, periodically, over the last seven months," Executive Editor Bill Keller said yesterday. "Of all the subjects we discussed with the family, that was the one we discussed more intensively than any other: Should we change strategy and go public?"Keller decided against it, and he was aided by silence from at least 40 major news organizations -- including, after a personal appeal, al-Jazeera -- that continued until yesterday, when the Times confirmed that Rohde and an assistant had escaped their Taliban captors in Pakistan. Keller consulted not only government experts but also other news organizations that had been through similar experiences, and there was "a pretty firm consensus," he said, "that you really amp up the danger when you go public. . . . It makes us cringe to sit on a news story," but in a life-or-death situation, "the freedom to publish includes the freedom not to publish."
For the record, it is a good thing that Mr. Rhode is safe and alive. The Times did the right thing by placing the safety and well being of its employee first given the Taliban's history of torturing and murdering captives. However, the Times' conduct in this matter raises the obvious point as to why the newspaper affords such discretion for its own reporters while defending its loathsome record of disclosing United States national security secrets and placing U S citizens and their military at greater risk.
There exists not a clearer example of the double standard by which this newspaper operates. They will decide what is best for their own and what is best for the rest of us. In that respect, the next time national security secrets are exposed by the New York Times perhaps someone will pursue the charge of treason.For the second time in little over a year, it looks as though the world may be heading for a serious food crisis, thanks to our old friend "climate change". In many parts of the world recently the weather has not been too brilliant for farmers. After a fearsomely cold winter, June brought heavy snowfall across large parts of western Canada and the northern states of the American Midwest. In Manitoba last week, it was -4ÂșC. North Dakota had its first June snow for 60 years.
There was midsummer snow not just in Norway and the Cairngorms, but even in Saudi Arabia. At least in the southern hemisphere it is winter, but snowfalls in New Zealand and Australia have been abnormal. There have been frosts in Brazil, elsewhere in South America they have had prolonged droughts, while in China they have had to cope with abnormal rain and freak hailstorms, which in one province killed 20 people.
Gore-Bull warming at work. Remember, to these idiots, weather is indicative of Gore-Bull warming.
None of this has given much cheer to farmers. In Canada and northern America summer planting of corn and soybeans has been way behind schedule, with the prospect of reduced yields and lower quality. Grain stocks are predicted to be down 15 per cent next year. US reserves of soya – used in animal feed and in many processed foods – are expected to fall to a 32-year low.
All because of Gore-Bull warming, no doubt.
In China, the world's largest wheat grower, they have been battling against the atrocious weather to bring in the harvest. (In one province they even fired chemical shells into the clouds to turn freezing hailstones into rain.)
Sounds like the Gore Effect. Has Pope Albert been in China lately?
In Europe, the weather has been a factor in well-below average predicted crop yields in eastern Europe and Ukraine. In Britain this year's oilseed rape crop is likely to be 30 per cent below its 2008 level. And although it may be too early to predict a repeat of last year's food shortage, which provoked riots from west Africa to Egypt and Yemen, it seems possible that world food stocks may next year again be under severe strain, threatening to repeat the steep rises which, in 2008, saw prices double what they had been two years before.There are obviously various reasons for this concern as to whether the world can continue to feed itself, but one of them is undoubtedly the downturn in world temperatures, which has brought more cold and snow since 2007 than we have known for decades.
Yet there will still be idiots who believe in Gore-Bull warming. The Earth has been cooling since 1998 and why do you think that is? Look at that big yellow thing up in the sky. Solar activity is currently declining and that causes the Earth to cool off.
It is now more than 200 years since the great astronomer William Herschel observed a correlation between wheat prices and sunspots. When the latter were few in number, he noted, the climate turned colder and drier, crop yields fell and wheat prices rose. In the past two years, sunspot activity has dropped to its lowest point for a century. One of our biggest worries is that our politicians are so fixated on the idea that CO2 is causing global warming that most of them haven't noticed that the problem may be that the world is not warming but cooling, with all the implications that has for whether we get enough to eat.
And they are going to use their religion junk science to subject the largest tax increase ever (The Cap-and-Tax) on an already struggling economy. Meanwhile Pope Albert's net worth has risen from $2 million when he left the White House to over $100 million now. His failed year at Vanderbilt's Divinity School has been very profitable for him.
It is appropriate that another contributory factor to the world's food shortage should be the millions of acres of farmland now being switched from food crops to biofuels, to stop the world warming, Last year even the experts of the European Commission admitted that, to meet the EU's biofuel targets, we will eventually need almost all the food-growing land in Europe. But that didn't persuade them to change their policy. They would rather we starved than do that. And the EU, we must always remember, is now our government – the one most of us didn't vote for last week.
And remember, Obamanation wants to turn us into the UK. Elections have consequences.
Hope. Change. High energy prices. Food shortages.
Think about this for a moment. Medicare is a huge, single-payer, government-run program. It ought to provide the perfect environment for experimentation. If more-efficient government management can slash health-care costs by addressing all these problems,why not start with Medicare? Let's see what "better management" looks like applied to Medicare before we roll it out to the rest of the country.
This is not a completely cynical suggestion.Medicare is, for instance, a logical place to start to design better electronic records systems and the incentives to use them. But you do have to wonder why a report that claims that Medicare is wasting 30 percent of its spending thinks it's making a case for making the rest of the health care system more like Medicare.
The administration does have big Medicare changes planned, both immediate cuts in reimbursements and "game changers" to impose more scientific management, potentially realizing savings down the road.2) "I hope I’m not making anything sound like they’re painless." There are going to be "hard, CBO-scored cuts" in Medicare, "mostly involving provider payments." The administration is proposing cutbacks in home-health care and Medicare Advantage payments, for instance. It isn't expecting to get its initial savings from better management.
3) Medicare First--changing Medicare and waiting to see how it works before messing around with the rest of the health care system--won't work politically. "I don’t think you’re going to get these aggressive changes in Medicare unless you do some coverage expansion now."
I believe that the goal of "universal coverage" is really a massive price-fixing scam seeking to dictate what healthcare professionals get paid. That is where they think they will save money. Remember in HilaryCare they were going to control the number of specialists in each field? As the single (only) payor they can dictate what they pay.
Do you really think demanding passports from 35 million Canadians will stop terrorism, any more than seizing elderly ladies' shampoo at the airport? Professional terrorists don't arrive at the border with a crumpled Canadian Tire card, then plead to get in. They have real fake passports.
So why are some scientists now beginning to question the buoys' findings? Because in five years the little blighters have failed to detect any global warming. They are not reinforcing the scientific orthodoxy of the day, namely that man is causing the planet to warm dangerously. They are not proving the predetermined conclusions of their human masters. Therefore they, and not their masters' hypotheses, must be wrong.
In fact, "there has been a very slight cooling," according to a U.S. National Public Radio (NPR) interview with Josh Willis at NASA's Jet Propulsion Laboratory, a scientist who keeps close watch on the Argo findings.
Willis insisted the temperature drop was "not anything really significant." And I trust he's right. But can anyone imagine NASA or the National Oceanic and Atmospheric Administration (NOAA) or the Intergovernmental Panel on Climate Change -- the UN's climate experts -- shrugging off even a "very slight" warming.
If you met a man who said he would like to 'transform' or 'remake' his wife, would you conclude that he: a) thought very highly of his wife and loved her? Or b) held his wife in rather low esteem and therefore found living her rather difficult? The answer is obvious: Those who wish to remake anything (or anyone) do not think highly of the person or thing they wish to remake. Little is as revealing of Barack Obama's and the left's view of America than their use of the words 'transform' and 'remake' when applied to what they most want to do to America. ... In light of those frequently made criticisms of America, I have often asked representatives of the left why they criticize America so much if they love it so much. 'Precisely because we love America, we criticize it. You criticize that which you love,' is the nearly universal response. But, of course, it isn't true. If you constantly criticize your spouse, for example, it is difficult to imagine that you really do love him or her. And perhaps more important, it is very unlikely that your spouse feels loved. That is why after being routinely described as racist, sexist, imperialist, etc., it is difficult to be able to tell that America is loved by the left. This is not written in order to indict the left, let alone the president, for not loving America. No one can measure another's feelings. Furthermore I do not question the sincerity of anyone who says he loves America. What I question are the actions and rhetoric of those who claim to love America yet want to transform and remake it.
--columnist Dennis Prager
Let’s be clear, it is the job and obligation of all investment managers, including hedge fund managers, to get their clients the most return they can. They are allowed to be charitable with their own money, and many are spectacularly so, but if they give away their clients’ money to share in the “sacrifice”, they are stealing. Clients of hedge funds include, among others, pension funds of all kinds of workers, unionized and not.
Shaking down lenders for the benefit of political donors is recycled corruption and abuse of power.
Let’s also mention only in passing the irony of this same President begging hedge funds to borrow more to purchase other troubled securities. That he expects them to do so when he has already shown what happens if they ask for their money to be repaid fairly would be amusing if not so dangerous.
Last but not least, the President screaming that the hedge funds are looking for an unjustified taxpayer-funded bailout is the big lie writ large. Find me a hedge fund that has been bailed out.
The administration is beating up the creditors because a) it wants to give the UAW a much better deal than they'd get in liquidation and b) they'd like someone else to pay for it. I recognize that the law is always kind of messy, but as far as I know, this kind of blatant political intervention between debt claims is unprecedented, and worse, it's a dress rehearsal for doing the same thing at GM. I don't think this is good for the rule of law, I'm pretty sure it will be bad for capital markets, and I'm nearly positive it's going to make it hard for any heavily unionized company to get substantial capital for the next decade.
Yes, you read that correctly. The disgraced one-time NFL superstar serving prison time for funding an illegal dog-fighting ring is primed to do public-service ads for People for the Ethical Treatment of Animals upon his release later this month. According to three people with knowledge of the matter, the proposed endorsement is part of a comprehensive PR scheme aimed at rehabilitating the quarterback's image and gaining him readmission to the league that banned him from playing.
The reality is, though, that ponytail wanted something else. He didn’t love his wife for what she was. In this he is a perfect reflection of the American left. They don’t love America for what it is. They love their own ideas of what they want America to be. Not what she is.
What is going on in this country? The government is about to take over GM in a plan that completely screws private bondholders and favors the unions. Get this: The GM bondholders own $27 billion and they’re getting 10 percent of the common stock in an expected exchange. And the UAW owns $10 billion of the bonds and they’re getting 40 percent of the stock. Huh? Did I miss something here? And Uncle Sam will have a controlling share of the stock with something close to 50 percent ownership. And no bankruptcy judge. So this is a political restructuring run by the White House, not a rule-of-law bankruptcy-court reorganization.
Miss Prejean is a student at San Diego Christian College - the kind of place activist gay leftists are at war with, where Christians preach what they practice.

The reason that the Obamatrons are going to take over healthcare is to get the general populace to accept rationing of healthcare to seniors. The statistics show that in the last year of life medicare expenditures average five and one half times the average of all other years. If everyone is in the same rationing pool, then the government will be able to sell their wisdom of cutting off care to those persons whose healthcare costs are starting to show the upward spiral that the computerized records indicate the beginning of the terminal year. Then the government's line will be, "It's for the children. Would you take funds from them just to extend a senior citizen's life six or seven months? You heartless bastard?" In reality it will be the government's thirst for dollars for vote buying and cronyism.
Of course the government will not allow their decisions to be litigated. I can see delays taking well past the day of death and the law written that heirs have no standing as plaintiffs.
I read recently that fraud in the medicare system was pegged at 31% of total expeditures. Maybe the government needs to hire some people from those evil insurance companies' audit departments. No insurance company could survive at that rate and the taxpayer shouldn't have to pay that as well as the overhead costs, like all government versus private industry costs are well over what they should be.