Monday, April 16, 2012
Tupac Comes Back Via Hologram for Coachella 2012…He Died 15 Years Ago FYI
Looks like the future has finally arrived. Arguably the most talked about event at this year’s Coachella festival is the one below, a hologram of Tupac performing with Snoop Dogg. It closed out the show Sunday night, starting with Tupac actually shouting out Coachella and then his holographic image performed 2 of Amerikaz Most Wanted before dissipating. Horribly morbid or infinitely cool that they could pull this off?
Today's News NJ: Hillary Clinton gets drunk In Colombia (PHOTO)
Seven down and five to go.. |
Girls just wanna have fun.. |
IMF chief urges more U.S. “appropriate indebtedness”
By Bill Wilson
Is the International Monetary Fund (IMF) inserting itself into U.S. political affairs and potentially setting up a conflict over U.S. sovereignty?
After a speech last week at the Brookings Institution on the financial crisis, IMF Managing Director Christine Lagarde took questions from the audience, including one from U.S. Bureau of Economic Analysis economist Garth Trinkl. Trinkl wanted to know if a massive mortgage bailout — funded by taxpayers — was in the offing and what Lagarde and the IMF thought about it.
Asked Trinkl, “Is this a time where there could be some debt restructuring within the older [advanced] countries to add to aggregate demand in the U.S.? And could this expand beyond just foreclosures so that there could be — now that the financial sector has had a boost — the middle class in the OECD could have its own boost?”
“A matter of urgency”
Lagarde responded to Trinkl’s question, saying, “This is something the IMF has had a long-standing position on. The housing problem is something that needs to be addressed as a matter of urgency.”
But what business is it of the IMF’s? Is Lagarde joining the Obama reelection campaign to push for his policies? Taxpayers in part pay for her salary. Is this what they’re paying for?
The only thing Congress should be “urgently considering” is withdrawing the $165 billion of U.S. taxpayer funds from the IMF. Because of the IMF, we are on the hook for tens of billions of debt owed by bankrupt countries in Europe and elsewhere.
This is a very dangerous precedent. The IMF — along with the European Union — is already making demands on the sovereignty of countries like Greece, Ireland, and Portugal that have been forced to accept bailout refinance loans for their sovereign debt.
Now, Lagarde is inserting herself and the IMF directly into the economic decisions of the United States. She is proving the worse fears of many that the IMF intends to dictate economic terms to every nation in the world. By inserting herself into the already highly charged domestic political debate over mortgage bailouts, Legarde has lite a fuse that could explode at any time.
Get full story here.
Is the International Monetary Fund (IMF) inserting itself into U.S. political affairs and potentially setting up a conflict over U.S. sovereignty?
After a speech last week at the Brookings Institution on the financial crisis, IMF Managing Director Christine Lagarde took questions from the audience, including one from U.S. Bureau of Economic Analysis economist Garth Trinkl. Trinkl wanted to know if a massive mortgage bailout — funded by taxpayers — was in the offing and what Lagarde and the IMF thought about it.
Asked Trinkl, “Is this a time where there could be some debt restructuring within the older [advanced] countries to add to aggregate demand in the U.S.? And could this expand beyond just foreclosures so that there could be — now that the financial sector has had a boost — the middle class in the OECD could have its own boost?”
“A matter of urgency”
Lagarde responded to Trinkl’s question, saying, “This is something the IMF has had a long-standing position on. The housing problem is something that needs to be addressed as a matter of urgency.”
But what business is it of the IMF’s? Is Lagarde joining the Obama reelection campaign to push for his policies? Taxpayers in part pay for her salary. Is this what they’re paying for?
The only thing Congress should be “urgently considering” is withdrawing the $165 billion of U.S. taxpayer funds from the IMF. Because of the IMF, we are on the hook for tens of billions of debt owed by bankrupt countries in Europe and elsewhere.
This is a very dangerous precedent. The IMF — along with the European Union — is already making demands on the sovereignty of countries like Greece, Ireland, and Portugal that have been forced to accept bailout refinance loans for their sovereign debt.
Now, Lagarde is inserting herself and the IMF directly into the economic decisions of the United States. She is proving the worse fears of many that the IMF intends to dictate economic terms to every nation in the world. By inserting herself into the already highly charged domestic political debate over mortgage bailouts, Legarde has lite a fuse that could explode at any time.
Get full story here.
Understanding why some people pay lower tax rates
The so-called “Buffett Rule” would automatically subject anyone who has taxable income above one million dollars to a 30 percent tax rate regardless of how that money was earned. But, it is based upon the hope that Americans fundamentally misunderstand the way different types of income are taxed and the reasons behind these differences.
The first question to ask is: Do those who make over a million dollars a year pay a lower income tax than those who make under that amount?
The answer is some do, and some don’t. It depends upon how they make their money.
If a single wage earner makes has taxable income equaling more than a million dollars in straight wages in 2011, then that person will pay $327,313 in federal taxes, or 32.7 percent of their income in taxes.
Yet, if the same person earns all of their money in capital gains from investments that (s)he owned form more than a year, the money is taxed at the lower rate of 15 percent, and the investor would owe $150,000.
And that is where the entire confusion over the ill-named “Buffett Rule” comes about. Most workers get a vast majority or all of their income from wages so they are taxed at a sliding scale rate depending upon the taxable income.
Whereas, it is not uncommon for people who make in excess of one million dollars of year in income to have much of that money a result of selling property or assets that they have owned for more than a year and their income is derived from the profit they made from the asset. These transactions are called long-term capital gains.
What is the difference between the two scenarios?
The person earning money through wages has not put any of his or her personal wealth at risk in order to gain a return, the straight wage earner is trading his/her time in exchange for money.
Get full story here.
Obama’s disapproval rating threatens to swamp his campaign
By Rebecca DiFede
In a nation consumed by the upcoming election, leading GOP candidate Mitt Romney is coming ever-closer to overcoming the campaign king, our illustrious incumbent President Obama.
And according to a Fox News poll, he may be closer than expected.
The poll was pretty extensive, and gives a specific look at how the country is feeling about the president versus the projected GOP nominee. But the general consensus is that despite his previous lead, Obama might have some competition from the Governor from Massachusetts.
The poll has reported that Romney is leading Obama 46-44 percent nationally, which is only the beginning.
Obama’s loudest cheering section, the mainstream Democrats, only report an 80 percent support of his presidency, down from 86 percent last month. This is a fascinating development because despite his faults, Democrats had always been completely infected with Obamarama.
However, perhaps when they look at their dwindling bank accounts, and borderline useless stock projections, they have begun to come out of their daze.
Another group that is important to focus on in this upcoming election are the Independents. Because of the polarization of this election, it’s pretty much going to come down to a popularity contest, and the Independent vote is going to be crucial in deciding a winner.
Get full story here.
In a nation consumed by the upcoming election, leading GOP candidate Mitt Romney is coming ever-closer to overcoming the campaign king, our illustrious incumbent President Obama.
And according to a Fox News poll, he may be closer than expected.
The poll was pretty extensive, and gives a specific look at how the country is feeling about the president versus the projected GOP nominee. But the general consensus is that despite his previous lead, Obama might have some competition from the Governor from Massachusetts.
The poll has reported that Romney is leading Obama 46-44 percent nationally, which is only the beginning.
Obama’s loudest cheering section, the mainstream Democrats, only report an 80 percent support of his presidency, down from 86 percent last month. This is a fascinating development because despite his faults, Democrats had always been completely infected with Obamarama.
However, perhaps when they look at their dwindling bank accounts, and borderline useless stock projections, they have begun to come out of their daze.
Another group that is important to focus on in this upcoming election are the Independents. Because of the polarization of this election, it’s pretty much going to come down to a popularity contest, and the Independent vote is going to be crucial in deciding a winner.
Get full story here.
Breivik trial gets underway in Norway as defendant claims self-defense (+video) – Christian Science Monitor
Christian Science Monitor Breivik trial gets underway in Norway as defendant claims self-defense (+video) Christian Science Monitor Anders Behring Breivik admitted to July 2011 attacks in Norway that killed more than 70 people, but did not take criminal responsibility for them. By Tom A. Peter, Correspondent / April 16, 2012 Norwegian mass killer Anders Behring Breivik gestures as ..
Bruce Jenner not 'excited' by Kimye romance
By
Ann Oldenburg, USA TODAY Khloe Kardashian may approve of the idea of
sister Kim dating Kanye, but Bruce Jenner says he's "not that excited"
by it. Kim's stepdad says he has had a "conversation with Kimberly"
about the "potential relationship," and more
Afghan official: Haqqanis blamed for Kabul attacks
KABUL, Afghanistan (AP) — A militant arrested in the attacks on the
Afghan capital and three other cities has confessed that the 18-hour
assault was carried out by the Haqqani network, a lethal group of
fighters with ties to the Taliban and al-Qaida, a top Afghan security
official said Monday.
Top Headlines
Top Headlines
Friday, April 13, 2012
Clinton
The biography of a president who rose from a broken childhood in Arkansas to become one of the most successful politicians in modern American history, and one of the most complex and conflicted characters to ever stride across the public stage. From draft dodging to the Dayton Accords, from Monica Lewinsky to a balanced budget, the presidency of William Jefferson Clinton veered between sordid scandal and grand achievement. Clinton had a career full of accomplishment and rife with scandal, a marriage that would make history and create controversy, and a presidency that would define the crucial and transformative period between the fall of the Berlin Wall and 9-11.
The latest installment in the critically acclaimed and successful series of presidential biographies, Clinton follows the president across his two terms as he confronted some of the key forces that would shape the future, including partisan political warfare and domestic and international terrorism, and as he struggled with uneven success to define the role of American power in a post-Cold War world. Most memorably, it explores how Clinton’s conflicted character made history, even as it enraged his enemies and confounded his friends.
Watch Clinton on PBS. See more from American Experience.
Morgan Freeman Says ‘I’m NOT Marrying My Step-Granddaughter’; Do You Believe Him?
Morgan Freeman is adamant … he has NEVER had a romantic relationship with his 27-year-old step-granddaughter E’Dena Hines … and slams all of the reports to the contrary as “defamatory fabrications.”
Morgan just released a statement responding to recent reports that he and Hines have been dating for roughly 10 years and were planning to get married in the very near future.
Freeman’s rep tells us the actor remained silent for years because he didn’t want to “dignify these stories by commenting” … but now he feels compelled to speak out after the reports were picked up by various “mainstream media” outlets.
In his statement, Freeman says, “The recent reports of any pending marriage or romantic relationship of me to anyone are defamatory fabrications from the tabloid media designed to sell papers. What is even more alarming is that these fabrications are now being picked up by the legitimate press as well.”
E’Dena has also issued a statement … saying, “These stories about me and my grandfather are not only untrue, they are also hurtful to me and my family.”
For the record, E’Dena is the granddaughter of Morgan’s first wife, Jeanette Adair Bradshaw. She and Morgan are not related by blood.
via Morgan Freeman — I’m NOT Marrying My Step-Granddaughter | TMZ.com.
Labels:
Dating,
Jeanette Adair Bradshaw,
marriage,
Morgan Freeman
Newark mayor rushes into burning home to save neighbor
Corey Booker |
ON: CNN
Newark Mayor Cory Booker was taken to a hospital Thursday night for treatment of smoke inhalation he suffered trying to rescue his next-door neighbors from their burning house.Two years ago, Booker helped shovel his constituents' driveways after a huge snowstorm. Who is this guy, Batman?
"I just grabbed her and whipped her out of the bed," Booker said in recounting the fire. Booker told The Star-Ledger he also suffered second-degree burns on his hand.
Obama’s quixotic wind program
By Rebekah Rast
An integral part of President Obama’s renewable energy plan is wind power.
It paints a nice picture; towering fields of gigantic turbines on an open hillside or small residential windmills atop a house or barn all collecting power from the wind solving all your electricity needs.
Too bad it doesn’t really work all that well on a mass scale.
Wind power only accounts for about 1 percent of all the energy used in the U.S. today. In 2010, it accounted for 2.3 percent of all electricity generated in the U.S. These numbers aren’t low due to a lack of turbine farms in America, they are low because turbines only generate a percentage of their theoretical maximum output—the wind does not always blow.
What’s more ironic from an environmentalist perspective is the fact that these giant turbines (some can reach 400 feet tall and turn at speeds of 200 mph in peak times) kill a half-million birds and bats without penalty every year. Knowing the typical response of true environmentalists, if any other industry other than a “green” one caused that much damage they would be there with a lawsuit threatening to shut it down.
In mass, if wind power seems to kill more birds than it produces energy, why does it remain such an integral component in Obama’s energy plan? Why does America continue to spend millions of dollars on an unstable energy source when there is no shortage of other much cheaper, reliable industries?
The city of Reno, Nev., is probably asking itself the same question.
Windmills were installed in Reno between April and October of 2010 and cost about $1 million out of a $2.1 million federal energy grant given to the city that was part of President Obama’s stimulus package, which passed in 2009.
Unfortunately, to date the turbines haven’t performed well in the city.
Get full story here.
An integral part of President Obama’s renewable energy plan is wind power.
It paints a nice picture; towering fields of gigantic turbines on an open hillside or small residential windmills atop a house or barn all collecting power from the wind solving all your electricity needs.
Too bad it doesn’t really work all that well on a mass scale.
Wind power only accounts for about 1 percent of all the energy used in the U.S. today. In 2010, it accounted for 2.3 percent of all electricity generated in the U.S. These numbers aren’t low due to a lack of turbine farms in America, they are low because turbines only generate a percentage of their theoretical maximum output—the wind does not always blow.
What’s more ironic from an environmentalist perspective is the fact that these giant turbines (some can reach 400 feet tall and turn at speeds of 200 mph in peak times) kill a half-million birds and bats without penalty every year. Knowing the typical response of true environmentalists, if any other industry other than a “green” one caused that much damage they would be there with a lawsuit threatening to shut it down.
In mass, if wind power seems to kill more birds than it produces energy, why does it remain such an integral component in Obama’s energy plan? Why does America continue to spend millions of dollars on an unstable energy source when there is no shortage of other much cheaper, reliable industries?
The city of Reno, Nev., is probably asking itself the same question.
Windmills were installed in Reno between April and October of 2010 and cost about $1 million out of a $2.1 million federal energy grant given to the city that was part of President Obama’s stimulus package, which passed in 2009.
Unfortunately, to date the turbines haven’t performed well in the city.
Get full story here.
Bernanke’s prophetic warning on debt
By Robert Romano
Federal Reserve Chairman Ben Bernanke has in the past said he opposes a return to the gold standard because it would reduce the central bank’s ability to intervene in the economy, effectively reducing his role to little more than a clerk.
Apparently, he has had little problem since the financial crisis with being the government’s ATM (automated teller machine).
Since Aug. 2007, when the downturn began in earnest, the Fed has more than doubled its holdings of the national debt by some $890.2 billion to $1.681 trillion — effectively monetizing the $15.6 trillion national debt. It already holds more than 10 percent of it now.
Such unprecedented actions by the central bank have not been seen since the World War II, when the national debt last went north of 100 percent of the Gross Domestic Product (GDP).
It has even led some economists, particularly those in the Modern Monetary Theorists camp, to suppose there is no limit to how much debt the Fed can monetize. As described by the Washington Post’s Dylan Matthews, the theory postulates that “the government can never run out of money. It can always make more.”
In that sense, the central bank is viewed as nearly invincible when it comes to servicing the government’s financing needs.
But, if that were true, why then does Bernanke see the need for fiscal restraint?
Speaking to Congress last year, Bernanke warned that spending and borrowing needed to be brought under control. Said Bernanke, “One way or the other, fiscal adjustments sufficient to stabilize the federal budget must occur at some point.”
He said one way or another, they will happen, it’s just a question of how: “The question is whether these adjustments will take place through a careful and deliberative process that weighs priorities and gives people adequate time to adjust to changes in government programs or tax policies, or whether the needed fiscal adjustments will come as a rapid and painful response to a looming or actual fiscal crisis.”
That’s quite an admission from the Fed head. Here, Bernanke let the curtain drop, if just for a moment, showing his hand.
Get full story here.
Federal Reserve Chairman Ben Bernanke has in the past said he opposes a return to the gold standard because it would reduce the central bank’s ability to intervene in the economy, effectively reducing his role to little more than a clerk.
Apparently, he has had little problem since the financial crisis with being the government’s ATM (automated teller machine).
Since Aug. 2007, when the downturn began in earnest, the Fed has more than doubled its holdings of the national debt by some $890.2 billion to $1.681 trillion — effectively monetizing the $15.6 trillion national debt. It already holds more than 10 percent of it now.
Such unprecedented actions by the central bank have not been seen since the World War II, when the national debt last went north of 100 percent of the Gross Domestic Product (GDP).
It has even led some economists, particularly those in the Modern Monetary Theorists camp, to suppose there is no limit to how much debt the Fed can monetize. As described by the Washington Post’s Dylan Matthews, the theory postulates that “the government can never run out of money. It can always make more.”
In that sense, the central bank is viewed as nearly invincible when it comes to servicing the government’s financing needs.
But, if that were true, why then does Bernanke see the need for fiscal restraint?
Speaking to Congress last year, Bernanke warned that spending and borrowing needed to be brought under control. Said Bernanke, “One way or the other, fiscal adjustments sufficient to stabilize the federal budget must occur at some point.”
He said one way or another, they will happen, it’s just a question of how: “The question is whether these adjustments will take place through a careful and deliberative process that weighs priorities and gives people adequate time to adjust to changes in government programs or tax policies, or whether the needed fiscal adjustments will come as a rapid and painful response to a looming or actual fiscal crisis.”
That’s quite an admission from the Fed head. Here, Bernanke let the curtain drop, if just for a moment, showing his hand.
Get full story here.
Islamists rally in Cairo against Mubarak old guard
The Muslim Brotherhood – the biggest group in parliament – called the protest after Suleiman announced his candidacy last week. Both Islamists and secular reformists view it as a threat to democratic reform.
Muslim Brotherhood supporters waved the group’s green flag and the red, white and black Egyptian national colors. “The people demand the fall of the regime,” they chanted, a slogan used during the anti-Mubarak uprising. “Down, down with military rule,” they chanted. They also sang the national anthem.
Banners showed Suleiman and Mubarak alongside the Star of David, depicting both as agents of Israel because of policies that included Egypt’s role in enforcing a blockade on the Hamas-run Gaza Strip, which borders the Arab state.
Egypt has had a peace treaty with Israel since 1979 but Mubarak’s Middle East policy, in large part managed by Suleiman, became the focus of ever sharper public criticism in his last years in power.
The council of army generals that has been running Egypt since Mubarak was deposed is due to hand power to an elected president on July 1. The vote, Egypt’s first real presidential election, is due to get under way on May 23 and will likely go to a run-off in June between the top two candidates.
Frontrunners include the Muslim Brotherhood’s Khairat al-Shater, ultra-orthodox Salafi sheikh Hazem Salah Abu Ismail, ex-Arab League Secretary General Amr Moussa and Ahmed Shafiq, who served as prime minister in Mubarak’s last days in power.
The Islamist-dominated parliament on Thursday passed legislation that would stop both Suleiman and Shafiq from running on the grounds they served in top posts under Mubarak. However, analysts doubt the law will be enacted by the ruling generals, setting the stage for more tension.
In an interview with the state-run al-Ahram newspaper, Suleiman pledged to press ahead with his campaign.
North Korea's rocket launch draws anger, wounds pride (+video)
The G-8 group of countries on Friday condemned North Korea over its
attempt to launch a long-range rocket taking a satellite into orbit. The
rocket failed shortly after launch and landed in the sea off the South
Korea coast.
MSCI Asia ex-Japan off day's peak after weaker China data * Aussie falls as China Q1 GDP grows 8.1 pct, below 8.3 pct forecast * Markets shrug off North Korea rocket launch * European shares likely mixed By Chikako Mogi TOKYO, April 13 (Reuters)
April 13, 2012 China Offers Subdued Reaction to Failed N. Korean Missile Launch Stephanie Ho | Beijing China is calling for calm and restraint following the failed North Korean missile launch. The official Chinese reaction to Friday's North Korean.
North Korea's much-heralded missile launch was a failure yesterday, but the White House still condemned what it felt was a provocative act by the rogue state. North Korea said it wanted to launch a rocket to put a weather.
North Korean rocket launch fails North Korea launches rocket North Korea's much-anticipated rocket launch ended quickly in failure early Friday, splintering into pieces over the Yellow Sea soon after takeoff. North Korea acknowledged in an announcement.
Related posts:
MSCI Asia ex-Japan off day's peak after weaker China data * Aussie falls as China Q1 GDP grows 8.1 pct, below 8.3 pct forecast * Markets shrug off North Korea rocket launch * European shares likely mixed By Chikako Mogi TOKYO, April 13 (Reuters)
April 13, 2012 China Offers Subdued Reaction to Failed N. Korean Missile Launch Stephanie Ho | Beijing China is calling for calm and restraint following the failed North Korean missile launch. The official Chinese reaction to Friday's North Korean.
North Korea's much-heralded missile launch was a failure yesterday, but the White House still condemned what it felt was a provocative act by the rogue state. North Korea said it wanted to launch a rocket to put a weather.
North Korean rocket launch fails North Korea launches rocket North Korea's much-anticipated rocket launch ended quickly in failure early Friday, splintering into pieces over the Yellow Sea soon after takeoff. North Korea acknowledged in an announcement.
Related posts:
- G-8 nations condemn North Korea missile launch amid nuke fears
- North Korean rocket reportedly flew just over a minute
- G-8 nations condemn North Korea missile launch amid nuke fears
- Norway festival shows North Korean art and music to challenge perceptions of …
- Kim Jong Un is NOT dead: 'Assassination' rumours were a hoax, say US officials
Thursday, April 12, 2012
Should NBA Players Be Paid To Play In the Olympics?
MIAMI – Heat guard Dwyane Wade says money is not his motivation for the London Games this summer. In a statement Thursday, Wade said, “I do not want to be paid to go to the Olympics.” Wade was quoted Wednesday saying he thinks “guys should be compensated” for playing over the summer and noted the schedule demands of being an Olympian. “It’s a lot of things you do for the Olympics — a lot of jerseys you sell,” Wade said after the Heat’s practice on Wednesday in advance of Thursday’s game against Chicago. “We play the whole summer. I do think guys should be compensated. Just like I think college players should be compensated as well. Unfortunately, it’s not there. But I think it should be something, you know, there for it.” “The biggest thing is now you get no rest,” Wade said. “So you go to the end of the season, [Team USA] training camp is two weeks later. You’re giving up a lot to do it. It’s something you want to do. But it’s taxing on your body. You’re not playing for the dollar. But it would be nice if you would get compensated.”
Now in all fairness to Dwayne this whole players being compensated for the Olympics thing was started by Ray Allen. So if you’re going to call Wade a dickhead in this specific case you also have to call Ray a dick which I can’t and won’t do. Instead I will say they actually kind of have a point. Yeah on the outside it seems unreal that gadzillioniares would complain about getting paid to play in the Olympics. And yes I think it’s gross they’d whine about how much rest they get blah, blah, blah. Hey newflash fellas. The rest of the world gets 2 weeks of vacation a year and they make no money and hate their lives.
But here is where I agree with them. The Olympics is not a non profit organization right? Like somebody is making serious money here. So in that regard it is exactly like the NCAA. Therefore if I was a player and I know that some cracker somewhere is making millions off me and I’m getting squat that would piss me off. I don’t care how rich I am. Give me the money and I’ll donate it to some charity or something. But the facts are the Olympics make millions on the pro players jerseys and shit. Money that wouldn’t exist if the pros weren’t playing. That money has to go somewhere and I’m guessing it goes right into the pockets of the US Olympic committee people. That’s where I think NBA and NHL guys have a grudge. Not that they need the extra cash. It’s just the fact that you know you are getting used. That would bother the shit out of me. Typical Dwayne Wade though. Even when he kind of has a point he flip flops because Bron Bron has stolen his spine.
By elpresidente
Italy and Spain test European bailout plan
By Bill Wilson
In the past month, the European sovereign debt crisis has reared its ugly head again.
No, not in Greece, but this time in Italy and Spain. There interest rates on 10-year bonds have jumped from lows of 4.81 percent and 4.87 percent, respectively, to 5.53 percent and 5.87 percent.
Last year, rates had gotten as high as 7.26 percent in Italy, and 6.7 percent in Spain, before the European Central Bank (ECB) intervened with more than €1 trillion of kick-the-can low interest refinance loans to banks so they have the money to continue to lend to bankrupt governments.
During that time, according to the New York Times’ Liz Alderman, “Spanish banks increased their holdings of government securities by €68 billion and Italian banks by €54 billion, both buying especially debt from their own countries.”
After that, rates collapsed, but are again creeping up, this time over concerns Spain cannot control its deficits. That’s not really news. Spain had announced at the end of last year its deficit would be much larger than expected.
What’s different now is Spain did not have much debt coming due earlier this year — just €1.3 billion in Feb. — until April, when it has a full €11.9 billion to refinance. That was when the rates suddenly spiked.
For comparative purposes, Italy had €53.4 billion coming due in the first quarter, during which rates were collapsing.
This distinction has not been lost on the Italian Prime Minister Mario Monti, who last month blamed rising rates on Spain, saying, “It doesn’t take much to recreate risk of contagion… [Spain] hasn’t paid enough attention to its public accounts.”
Spanish Prime Minister Mariano Rajoy, not wishing to be singled out, then warned Italy against issuing such proclamations in a rather pathetic display.
Said Rajoy, “We hope that they assume their responsibilities and are more cautious in their statements. We don't talk about other countries. We wish other EU and euro zone countries the best. What is good for Spain is good for the euro zone.” Indeed.
Get full story here.
In the past month, the European sovereign debt crisis has reared its ugly head again.
No, not in Greece, but this time in Italy and Spain. There interest rates on 10-year bonds have jumped from lows of 4.81 percent and 4.87 percent, respectively, to 5.53 percent and 5.87 percent.
Last year, rates had gotten as high as 7.26 percent in Italy, and 6.7 percent in Spain, before the European Central Bank (ECB) intervened with more than €1 trillion of kick-the-can low interest refinance loans to banks so they have the money to continue to lend to bankrupt governments.
During that time, according to the New York Times’ Liz Alderman, “Spanish banks increased their holdings of government securities by €68 billion and Italian banks by €54 billion, both buying especially debt from their own countries.”
After that, rates collapsed, but are again creeping up, this time over concerns Spain cannot control its deficits. That’s not really news. Spain had announced at the end of last year its deficit would be much larger than expected.
What’s different now is Spain did not have much debt coming due earlier this year — just €1.3 billion in Feb. — until April, when it has a full €11.9 billion to refinance. That was when the rates suddenly spiked.
For comparative purposes, Italy had €53.4 billion coming due in the first quarter, during which rates were collapsing.
This distinction has not been lost on the Italian Prime Minister Mario Monti, who last month blamed rising rates on Spain, saying, “It doesn’t take much to recreate risk of contagion… [Spain] hasn’t paid enough attention to its public accounts.”
Spanish Prime Minister Mariano Rajoy, not wishing to be singled out, then warned Italy against issuing such proclamations in a rather pathetic display.
Said Rajoy, “We hope that they assume their responsibilities and are more cautious in their statements. We don't talk about other countries. We wish other EU and euro zone countries the best. What is good for Spain is good for the euro zone.” Indeed.
Get full story here.
The real employment situation
As originally published at TheHill.com.
Mark Twain famously misquoted British Prime Minister Benjamin Disraeli as saying, “There are three kinds of lies: lies, damned lies and statistics.”
The reported unemployment numbers prove the validity of the quote, even as the source is in dispute.
According to the U.S. Department of Labor’s Bureau of Labor Statistics, in March, there were 31,000 fewer people employed than in February, yet the politically useful unemployment rate went down to 8.2 percent: a decline that is sure to be played up in campaign commercials as evidence that the Obama economy is recovering.
Unfortunately, a review of the data behind the unemployment numbers reveals an entirely different story.
In spite of the overall non-institutionalized work-eligible civilian population increasing by 7.9 million since Obama became president, 150,000 fewer Americans have jobs today than in January 2009.
That’s right, the number of those eligible to participate in the workforce jumped by almost 8 million, yet fewer people have jobs today than the day Obama took office. I would not expect to see that statistic in his reelection campaign ads.
Most significantly, the percentage of people who are eligible to work who participate in the workforce has dropped by 1.9 percent.
To put this in perspective, if the labor participation rate had remained the same during Obama’s tenure in office as it was in January 2009, there would be 4.7 million more people counted in the workforce.
If these 4.7 million people had not dropped out of the workforce in the past three years, the unemployment rate reported by the Labor Department would be 10.8 percent. Somehow, I don’t think that the Obama campaign would be too excited by this number.
Among the many oddities in the March jobs report, one other one sticks out, as it directly contradicts the rosy weekly Labor Department reports on unemployment insurance claims declining.
Get full story here.
Zimmerman to make first court appearance
SANFORD, Fla. — Neighborhood watch volunteer George Zimmerman
barely spoke a word and showed little emotion during his first courtroom
appearance since being charged with murder.
Dressed in a gray jail jump suit, Zimmerman, 28, looked straight ahead and said, “yes, sir,” to basic questions asked of him by Seminole County Judge Mark Herr.
Zimmerman’s arraignment was set for May 29, when he’ll likely plead not guilty to second-degree murder for the death of unarmed teen Trayvon Martin.
“He’s tired — he’s going through some tribulation of his own, being the focus of the intensity of this event,” defense lawyer Mark O’Mara said outside court, following the four-minute hearing.
“He’s frightened.”
Zimmerman gunned down Martin on Feb. 26 after confronting the 17-year-old inside a gated community.
Martin and his dad were visiting the elder’s girlfriend. They planned to watch the NBA All-Star game and Martin went to a local store to buy a bag of Skittles.
It was during Martin’s return when the neighborhood watch volunteer Zimmerman spotted him and called 911.
Zimmerman, whose dad is white and mom is Peruvian, described Martin as a young African American acting suspiciously.
Minutes later, Martin was shot dead by Zimmerman and cops initially accepted his story that he was acted out of self-defense.
Martin’s slaying and local police handling of the case sparked a national outcry, leading to the appointment of special prosecutor Angela Corey, who filed charges against Zimmerman.
“He is concerned about getting a fair trial and a fair presentation,” O’Mara said. “He is a client who has a lot of hatred focused on him. I’m hoping the hatred settles down … He has the right to his own safety and the case being tried before a judge and jury.”
In the proforma courtroom move, Judge Herr found there was probable cause to move the case along.
Zimmerman — his head shaved down to stubble and sporting a thin goatee — had been in hiding before his arrest and court appearance today.
O’Mara declined to detail how he’d argue that Zimmerman should be protected by Florida’s “stand your ground” law, which gives wide latitude to citizens to use lethal force if they feel threatened.
O’Mara offered his condolences to Martin’s parents and loved ones.
“They lost their son we are not going to be using words against the mother of a deceased child,” he said.
Zimmerman is being held without bail, but his lawyer said the 28-year-old will make a bond application in the next few weeks.
Zimmerman is in protective custody, O’Mara said.
Zimmerman faces up to life in prison if convicted of second-degree murder.
Earlier in the day, Martin’s mom Sybrina Fulton called her son’s slaying an “accident.”
“I believe it was an accident,” Fulton told NBC’s “Today” show. “I believe that it just got out of control, and he couldn’t turn the clock back. I would ask him, did he know that that was a minor, that that was a teenager and that he did not have a weapon? I would ask him that I understand that his family is hurting, but think about our family that lost our teenage son. I mean, it’s just very difficult to live with day in and day out. I’m sure his parents can pick up the phone and call him, but we can’t pick up the phone and call Trayvon anymore.”
Later, she clarified the comment.
“Their meeting was the accident,” Fulton said. “That was the accident. Not the actual act of him shooting him. That was murder … They were never supposed to meet.”
Dressed in a gray jail jump suit, Zimmerman, 28, looked straight ahead and said, “yes, sir,” to basic questions asked of him by Seminole County Judge Mark Herr.
Zimmerman’s arraignment was set for May 29, when he’ll likely plead not guilty to second-degree murder for the death of unarmed teen Trayvon Martin.
“He’s tired — he’s going through some tribulation of his own, being the focus of the intensity of this event,” defense lawyer Mark O’Mara said outside court, following the four-minute hearing.
“He’s frightened.”
Zimmerman gunned down Martin on Feb. 26 after confronting the 17-year-old inside a gated community.
Martin and his dad were visiting the elder’s girlfriend. They planned to watch the NBA All-Star game and Martin went to a local store to buy a bag of Skittles.
It was during Martin’s return when the neighborhood watch volunteer Zimmerman spotted him and called 911.
Zimmerman, whose dad is white and mom is Peruvian, described Martin as a young African American acting suspiciously.
Minutes later, Martin was shot dead by Zimmerman and cops initially accepted his story that he was acted out of self-defense.
Martin’s slaying and local police handling of the case sparked a national outcry, leading to the appointment of special prosecutor Angela Corey, who filed charges against Zimmerman.
“He is concerned about getting a fair trial and a fair presentation,” O’Mara said. “He is a client who has a lot of hatred focused on him. I’m hoping the hatred settles down … He has the right to his own safety and the case being tried before a judge and jury.”
In the proforma courtroom move, Judge Herr found there was probable cause to move the case along.
Zimmerman — his head shaved down to stubble and sporting a thin goatee — had been in hiding before his arrest and court appearance today.
O’Mara declined to detail how he’d argue that Zimmerman should be protected by Florida’s “stand your ground” law, which gives wide latitude to citizens to use lethal force if they feel threatened.
O’Mara offered his condolences to Martin’s parents and loved ones.
“They lost their son we are not going to be using words against the mother of a deceased child,” he said.
Zimmerman is being held without bail, but his lawyer said the 28-year-old will make a bond application in the next few weeks.
Zimmerman is in protective custody, O’Mara said.
Zimmerman faces up to life in prison if convicted of second-degree murder.
Earlier in the day, Martin’s mom Sybrina Fulton called her son’s slaying an “accident.”
“I believe it was an accident,” Fulton told NBC’s “Today” show. “I believe that it just got out of control, and he couldn’t turn the clock back. I would ask him, did he know that that was a minor, that that was a teenager and that he did not have a weapon? I would ask him that I understand that his family is hurting, but think about our family that lost our teenage son. I mean, it’s just very difficult to live with day in and day out. I’m sure his parents can pick up the phone and call him, but we can’t pick up the phone and call Trayvon anymore.”
Later, she clarified the comment.
“Their meeting was the accident,” Fulton said. “That was the accident. Not the actual act of him shooting him. That was murder … They were never supposed to meet.”
Read more at The NY Post
Christie Administration Moves Forward to Turn Around Lowest-Performing Schools in the State, Provide Targeted Support for Improvement, and to Reward Successful Schools
Department announces final list of Priority, Focus, and Reward Schools as part of state's new accountability system
Trenton, NJ - The Christie Administration today announced the final list of Priority, Focus, and Reward Schools as part of its new statewide accountability system developed through flexibility from No Child Left Behind (NCLB). The Department of Education will invest heavily in the state's lowest-performing schools (Priority Schools) and provide targeted supports to schools with specific achievement concerns (Focus Schools) to ensure all students are on track for college and career readiness. For the first time, these school designations were developed by taking into account both growth and absolute proficiency to provide a more complete picture of school performance and the needs of individual schools.
"We are entering a new age of school accountability in New Jersey, one that frees high-performing schools from state interference and defines a stronger investment from the state to turn around pockets of persistent academic failure," said Acting Commissioner Chris Cerf. "No longer can we stand on the sidelines when our schools are not preparing students in New Jersey to graduate from high school ready for college and a career. There is a moral imperative for the state to take a stronger role in persistently failing schools and to work collaboratively with communities and districts to give all students a fair chance."
For complete information: http://www.state.nj.us/
Tuesday, April 10, 2012
Today's News NJ: 2012 Top Republican VP Picks
Here are my top 2012 Republican VP choices in a nutshell. I chose them all for their own unique reason – and this is only my surface review. I don’t have the time or resources to vet them, but as far as public knowledge goes, they could all benefit Romney in the general election for various reasons.
Allen West
Allen West is a U.S. Representative (Republican) for Florida’s 22nd congressional district. West took office in January of 2011, and he is the first black Republican Congressman from Florida since Josiah T. Walls left office in 1876. West brings a life-long career of military leadership and national defense experience and knowledge to the table. His conservative values and his support from the Tea Party have brought him to the spotlight, along with his blatant outspokenness and opposition regarding radical Islam and the potential threat from the Middle East to the United States. West is also an advocate of the “Don’t Ask, Don’t tell” policy, and has stood in the gap for black conservatism, which is somewhat of a taboo in the United States. Allen West would make a great Vice President because he has some contrasting experience in comparison to Mitt Romney, and his ability to communicate resonating messages with black conservatives would help capture and possibly split the “black vote.”Rick Santorum
Rick Santorum was able to catapult his campaign during the primaries and captured the attention of the media and conservative Americans around the country. Santorum is widely known for his passionate socially conservative views, and his deep love of American family values. Mitt Romney’s conservative (or lack of) record has created doubt in the minds of true conservatives, and Santorum would help seal in the ultra-conservative vote – voters who would potentially stay at home during the General Election. The downside to Santorum would be that some have taken his ideas out of context and have painted him as a conservative extremist, which is the same thing as a terrorist to the media.Marco Rubio
Marco Rubio is a United States Senator (Republican) from Florida, and in my opinion, Rubio is the future of American conservatism. Marco Rubio is a huge threat to the left because he represents the reality of the American dream – coming from literally nothing. His conservative message resonates with the vast majority of the country, and like Allen West and Herman Cain, he would be able to capture the votes of those he has had cultural influence on – the Latin community. The only caveat with Rubio is that he is a junior Senator and lacks experience. Another thing to consider is that a VP run with Romney might be future political suicide. I, personally don’t believe this, because I think he has something special going on that even Romney couldn’t negatively affect.Sarah Palin
I can already see the reactions to this one. You think I’m crazy, I know. Sarah Palin has a lot of baggage, but with that baggage comes millions upon millions of supporters, and sometimes the best way to measure a persons influence and success is by the number of enemies that they have. Sarah Palin was the single determining factor in any sliver of hope that McCain had in 2008, and her tenacity to not back down despite the completely disgusting treatment of her and her family inspired people to get behind her. A lot has changed since 2008, but hernotorious
popularity has only grown, and I think that she would provide the same electrifying results that we saw in 2008… only this time with a somewhat viable presidential candidate.
Paul Ryan
Paul Ryan is the U.S. Representative for Wisconsin’s 1st congressional district, and has served since 1999. He is a member of the Republican Party and has been ranked among the party’s most influential voices on economic policy. Ryan is not quite as exciting as some of the others in regards to public appeal, and his experience isn’t quite as contrasting as the others either, but he does more than just talk a big game – he actually proposes real changes. Agree with him or not, he has led the charge in effort to balance our national budget and cut deficits. This would put dual-authority figures in the field of fiscal issues.Herman Cain
Herman Cain… the black conservative business man that fell victim to a modern-day media lynching when he was accused by several unknown women of sexual misconduct. Of course, as soon as Cain dropped from the race, the allegations mysteriously disappeared and nobody ever heard from the women again – proof that it was all a political ploy. Cain was subject to this because he is NOT a politician, and he hasn’t spent his life in the corrupt line of Washington politics. He’s a successful business man with conservative values, and a knack for taking the liberal ideology head on. Herman Cain is also a Tea Party favorite.Chris Christie
Chris Christie is more of an honorable mention for me than he is a valid candidate for my conservative tastes. Christ Christie is somewhat of a RINO (Republican In Name Only) in my opinion due to his pro cap and trade support and the fact that he endorsed Mike Castle in Delaware during the 2010 Senate race. He also has a cloudy record on gun control, and advocates compromise in order to get Republicans elected. The good thing about him is that he is a take-no-prisoners debater and sticks to his guns when he gets behind an issue. I like someone who goes against the grain. If Tim Palwenty would have had his attitude and outlook, I believe that Pawlenty would be the Republican front-runner right now.BY Kevin Webb
Ex-Teacher Replaces bin Laden on FBI’s Ten Most Wanted List
By Allan Lengel
He ain’t exactly Osama bin Laden.
Still, the FBI on Tuesday announced a replacement for bin Laden for its Ten Most Wanted Fugitive List: Eric Justin Toth, 30, a former private-school teacher and camp counselor.
Toth is accused of possessing and producing child pornography.
In a press release, the FBi said that Toth, who also goes by the name David Bussone, has been on the run since warrants for his arrest were issued in Maryland and the District of Columbia in 2008. There is also reward of up to $100,000 for information leading to his arrest.
The FBI said a probe into Toth began in June 2008 after pornographic images were found on a camera in his possession at the private where he worked.
The FBI is still looking to add another fugitive to replace Boston mobster James “Whitey” Bulger, who was captured last year in California.
Labels:
California,
david bussone,
FBI,
James Whitey Bulger,
Most Wanted,
Osama bin Laden,
toth
International Arms Dealer Viktor Bout Gets 25 Years
By Shoshanna Utchenik
It’s going to be a long time before international arms dealer Viktor Bout sees daylight again.
The DEA announced late last week that Bout was sentenced in New York to 25 years in prison for conspiring to sell millions of dollars’ worth of weapons, including hundreds of surface-to-air missiles and over 20,000 AK-47s to the Colombian terrorist group, the Fuerzas Armadas Revolucionarias de Colombia (the “FARC”).
Authorities said that Bout understood the weapons would be used to kill Americans in Colombia.
He was convicted on the charges last November 2.
“The crimes Viktor Bout committed represent the worst case scenario for modern law enforcement–the merger of criminal international narcotics cartels with their terrorism enablers,” DEA Administrator Michele Leonhart said in a statement.
Manhattan U.S. Attorney Preet Bharara added in a statement: “Viktor Bout has been international arms trafficking enemy number one for many years, arming some of the most violent conflicts around the globe. He was finally brought to justice in an American court for agreeing to provide a staggering number of military grade weapons to an avowed terrorist organization committed to killing Americans. Today’s sentence is a fitting coda for this career arms trafficker of the most dangerous order.”
The DEA announced late last week that Bout was sentenced in New York to 25 years in prison for conspiring to sell millions of dollars’ worth of weapons, including hundreds of surface-to-air missiles and over 20,000 AK-47s to the Colombian terrorist group, the Fuerzas Armadas Revolucionarias de Colombia (the “FARC”).
Authorities said that Bout understood the weapons would be used to kill Americans in Colombia.
He was convicted on the charges last November 2.
“The crimes Viktor Bout committed represent the worst case scenario for modern law enforcement–the merger of criminal international narcotics cartels with their terrorism enablers,” DEA Administrator Michele Leonhart said in a statement.
Manhattan U.S. Attorney Preet Bharara added in a statement: “Viktor Bout has been international arms trafficking enemy number one for many years, arming some of the most violent conflicts around the globe. He was finally brought to justice in an American court for agreeing to provide a staggering number of military grade weapons to an avowed terrorist organization committed to killing Americans. Today’s sentence is a fitting coda for this career arms trafficker of the most dangerous order.”
Obama’s cynical mortgage bailout vote-buying scheme
By Robert Romano
It would not be an election year without the White House offering yet another bailout for distressed borrowers who owe more money on their homes than they are worth.
Of course, it’s all political. Don’t let anyone tell you different.
“The goal is to build a constituency of borrowers underwater on their mortgages with the hope that they might — emphasis on might — be able to get some relief,” said Americans for Limited Government President Bill Wilson, calling it “nothing more than a cynical election year ploy.”
There is good reason to be skeptical about the government’s latest program, which would take taxpayer money out of TARP and be used for writing down the principal owed on mortgages.
Every single year of the Obama Administration, such programs have been attempted, including the failed 2009 mortgage modification program, which fell far short of its goal to modify 3 to 4 million mortgages. In the end, just a fraction of the goal— only about 10 percent — were even modified.
More recently, the White House expanded its mortgage refinance operations to allow refi’s above 125 percent loan-to-value. This would allow borrowers to get into a lower interest rate even if they are underwater on their mortgage.
That was done without any vote in Congress, too, and in spite of the fact the law that put Fannie Mae and Freddie Mac into government conservatorship only allowed refi’s of up to 90 percent loan-to-value.
But, if at first you don’t succeed, try, try again is the Obama mantra when it comes to its many failed efforts at foreclosure “prevention”. With millions more foreclosures anticipated this year, Obama appears convinced that trying the same thing over and over again expecting different results is not insane.
Get full story here.
It would not be an election year without the White House offering yet another bailout for distressed borrowers who owe more money on their homes than they are worth.
Of course, it’s all political. Don’t let anyone tell you different.
“The goal is to build a constituency of borrowers underwater on their mortgages with the hope that they might — emphasis on might — be able to get some relief,” said Americans for Limited Government President Bill Wilson, calling it “nothing more than a cynical election year ploy.”
There is good reason to be skeptical about the government’s latest program, which would take taxpayer money out of TARP and be used for writing down the principal owed on mortgages.
Every single year of the Obama Administration, such programs have been attempted, including the failed 2009 mortgage modification program, which fell far short of its goal to modify 3 to 4 million mortgages. In the end, just a fraction of the goal— only about 10 percent — were even modified.
More recently, the White House expanded its mortgage refinance operations to allow refi’s above 125 percent loan-to-value. This would allow borrowers to get into a lower interest rate even if they are underwater on their mortgage.
That was done without any vote in Congress, too, and in spite of the fact the law that put Fannie Mae and Freddie Mac into government conservatorship only allowed refi’s of up to 90 percent loan-to-value.
But, if at first you don’t succeed, try, try again is the Obama mantra when it comes to its many failed efforts at foreclosure “prevention”. With millions more foreclosures anticipated this year, Obama appears convinced that trying the same thing over and over again expecting different results is not insane.
Get full story here.
GOP 2012 Nomination Race: The End Is Near
By Adam Bitely
It appears that the fat lady has finally sung and the curtain is closing on the Republican contest for the Presidential nomination. She appears to be singing about Mitt Romney’s victory.
For those that believe there is still a chance for one of the other candidates to somehow stage a spring comeback — think again.
Over the weekend, Newt Gingrich went out of his way to let the media know that he has made peace with Romney. As Newt put it on Fox News Sunday, “I hit him as hard as I could, he hit me as hard as he could. Turns out he had more things to hit with than I did. That's part of the business.”
As Politico reported, Mitt responded to Newt’s comments on the Mike Huckabee radio program saying, "It was not a surprise — he and I have spoken from time to time, and in fact he and I have been together with our wives and spoken." Mitt continued saying that Newt is "pretty open eyed about this, we talk about where are at this stage, and the likelihood that I will get the delegates to become the nominee."
Mitt is now openly bragging that it is nearly impossible for any of the other candidates to pass him in the race for convention delegates.
While Gingrich hasn’t formally dropped out, it appears that he is positioning himself for political life after Romney’s claims to the nomination are complete. After all, Newt needs all the allies he can get after he drops out of the race, especially after one of the think tanks that he manages went bankrupt late last week.
Get full story here.
It appears that the fat lady has finally sung and the curtain is closing on the Republican contest for the Presidential nomination. She appears to be singing about Mitt Romney’s victory.
For those that believe there is still a chance for one of the other candidates to somehow stage a spring comeback — think again.
Over the weekend, Newt Gingrich went out of his way to let the media know that he has made peace with Romney. As Newt put it on Fox News Sunday, “I hit him as hard as I could, he hit me as hard as he could. Turns out he had more things to hit with than I did. That's part of the business.”
As Politico reported, Mitt responded to Newt’s comments on the Mike Huckabee radio program saying, "It was not a surprise — he and I have spoken from time to time, and in fact he and I have been together with our wives and spoken." Mitt continued saying that Newt is "pretty open eyed about this, we talk about where are at this stage, and the likelihood that I will get the delegates to become the nominee."
Mitt is now openly bragging that it is nearly impossible for any of the other candidates to pass him in the race for convention delegates.
While Gingrich hasn’t formally dropped out, it appears that he is positioning himself for political life after Romney’s claims to the nomination are complete. After all, Newt needs all the allies he can get after he drops out of the race, especially after one of the think tanks that he manages went bankrupt late last week.
Get full story here.
Call for Transparency in Collective Bargaining Advances in Louisiana
Louisiana state representative Tony Ligi (R-Metairie) would like for taxpayers to have a seat at the table when public employee unions negotiate with government officials over the size and scope of their benefit package.
To this end, he reintroduced a bill in the current legislative session in Baton Rouge that would have subjected collective bargaining sessions to open meetings law requirements. This means any document created or presented during the sessions would be available to the public and the details attached to collective bargaining agreements posted on the Internet.
Last year the “Public Employee Bargaining Transparency Act” was blocked in the House and Government Affairs Committee in an 8-7 vote. This time around HB 89 made it to the House floor after passing the committee by an 8-2 margin with Reps. Jared Brossett (D-New Orleans) and Randal Gains (D-LaPlace) opposing the measure. Instead of risking defeat in what would have been a very close vote on the House floor, Ligi reached a compromise with the Louisiana Federation of Teachers and other opponents.
“The vote would have been very, very close,” he said. “There were some people who wanted to vote for it, but they had already put themselves in a tough spot by voting for the governor’s education package and they were under a lot of pressure. While it is possible that bill still would have passed in its original form, I didn’t think it would be good idea to risk walking away with nothing. So I settled on an alternative that still allows for public scrutiny and transparency.”
Last week the Senate passed legislation authored by Rep. Steve Carter (R-Baton Rouge) that reforms teacher tenure (HB974) and another bill makes it possible to expand the number of charter schools while converting the scholarship program in New Orleans (HB 976) into a statewide option.
Ligi credits Gov. Bobby Jindal and fellow lawmakers for exerting the “willpower” needed to “buck the status quo” and implement “transformative” policy changes. But, at the same time, the votes on tenure reform and school choice drained away some of political capital needed to help pass his legislation, Ligi acknowledged.
Get full story here.
Monday, April 9, 2012
Big Government is Making Boeing a Bad Actor
By Howard Rich
Last I year joined a pro-free market chorus in condemning Barack Obama’s National Labor Relations Board (NLRB) — which filed suit against aircraft manufacturer Boeing after the company dared to create new jobs in a Right-to-Work state.
“The Obama administration’s war against Boeing is indeed a war against jobs,” l wrote.
Too bad the company failed to show the same fighting spirit that thousands of limited government advocates demonstrated on its behalf.
Rather than standing up for its free market rights, Boeing instead chose to cut a deal with Obama’s union goons. The company’s surrender not only gave Big Labor the concessions it was seeking with regard to the company’s expansion plans — more importantly it preserved the NLRB’s ability to use such thuggish tactics in the future against other companies (which Obama signaled he was more than happy to do via his unconstitutional recess appointments to the NLRB).
Why did Boeing cave in the face of such a flagrant violation of its rights?
Perhaps that was the plan from the beginning. Remember Boeing is headquartered in Chicago and its executives gave Obama $197,000 in campaign contributions during his 2008 presidential campaign — five times as much money as the company gave the GOP nominee. Obama also named Boeing CEO Jim McNerney as the head of his Export Council.
In 2010, Boeing received $19.4 billion in government contracts – and in early 2011 it was awarded a $35 billion contract to design and build the Pentagon’s next generation air-refueling tanker. The company has also been cashing in on billions of dollars in subsidies doled out through the U.S. Export-Import Bank (a.k.a. the “Ex-Im Bank”) — a crony capitalist entity that authorizes loans to foreign companies.
Boeing benefited from $8.4 billion in Ex-Im loans in 2009, $6.4 billion in 2010 and $11.4 billion in 2011 — gobbling up the overwhelming majority of the bank’s lending capacity.
Obama and his allies are currently seeking a four-year reauthorization of the Ex-Im Bank that would raise its lending capacity from $100 billion to $140 billion.
Get full story here.
Last I year joined a pro-free market chorus in condemning Barack Obama’s National Labor Relations Board (NLRB) — which filed suit against aircraft manufacturer Boeing after the company dared to create new jobs in a Right-to-Work state.
“The Obama administration’s war against Boeing is indeed a war against jobs,” l wrote.
Too bad the company failed to show the same fighting spirit that thousands of limited government advocates demonstrated on its behalf.
Rather than standing up for its free market rights, Boeing instead chose to cut a deal with Obama’s union goons. The company’s surrender not only gave Big Labor the concessions it was seeking with regard to the company’s expansion plans — more importantly it preserved the NLRB’s ability to use such thuggish tactics in the future against other companies (which Obama signaled he was more than happy to do via his unconstitutional recess appointments to the NLRB).
Why did Boeing cave in the face of such a flagrant violation of its rights?
Perhaps that was the plan from the beginning. Remember Boeing is headquartered in Chicago and its executives gave Obama $197,000 in campaign contributions during his 2008 presidential campaign — five times as much money as the company gave the GOP nominee. Obama also named Boeing CEO Jim McNerney as the head of his Export Council.
In 2010, Boeing received $19.4 billion in government contracts – and in early 2011 it was awarded a $35 billion contract to design and build the Pentagon’s next generation air-refueling tanker. The company has also been cashing in on billions of dollars in subsidies doled out through the U.S. Export-Import Bank (a.k.a. the “Ex-Im Bank”) — a crony capitalist entity that authorizes loans to foreign companies.
Boeing benefited from $8.4 billion in Ex-Im loans in 2009, $6.4 billion in 2010 and $11.4 billion in 2011 — gobbling up the overwhelming majority of the bank’s lending capacity.
Obama and his allies are currently seeking a four-year reauthorization of the Ex-Im Bank that would raise its lending capacity from $100 billion to $140 billion.
Get full story here.
Krugman’s ‘private’ sector
By Bill Wilson
The week of April 6, the national average of gasoline prices hit $3.94, according to the Energy Information Agency, with prices continuing to rise nationwide.
But economist and New York Times columnist Paul Krugman apparently thinks you’re not paying enough at the pump just yet. Or everywhere else for that matter. Whether energy, food, or consumer goods, he wants more inflation, and is encouraging the Federal Reserve to fire up the printing presses to help stoke the embers of even higher prices.
Why would he want to do that?
Writes Krugman, “large parts of the private sector continue to be crippled by the overhang of debt accumulated during the bubble years; this debt burden is arguably the main thing holding private spending back and perpetuating the slump.”
Therefore, he adds, “Modest inflation would, however, reduce that overhang — by eroding the real value of that debt — and help promote the private-sector recovery we need.”
But, non-financial business debt (corporate and non-corporate), while slightly dropping after the financial crisis, grew steadily in 2011 to $11.63 trillion — for the first time it’s higher than its peak 2008 level of $11.41 trillion, according to data released from the Federal Reserve.
That indicates that any deleveraging in the non-financial private sector has already worked its way through the system, else the total amount of debt owed by private companies would still be decreasing.
So, which “large parts of the private sector” being hurt by debt overhang was Krugman referring to?
Get full story here.
The week of April 6, the national average of gasoline prices hit $3.94, according to the Energy Information Agency, with prices continuing to rise nationwide.
But economist and New York Times columnist Paul Krugman apparently thinks you’re not paying enough at the pump just yet. Or everywhere else for that matter. Whether energy, food, or consumer goods, he wants more inflation, and is encouraging the Federal Reserve to fire up the printing presses to help stoke the embers of even higher prices.
Why would he want to do that?
Writes Krugman, “large parts of the private sector continue to be crippled by the overhang of debt accumulated during the bubble years; this debt burden is arguably the main thing holding private spending back and perpetuating the slump.”
Therefore, he adds, “Modest inflation would, however, reduce that overhang — by eroding the real value of that debt — and help promote the private-sector recovery we need.”
But, non-financial business debt (corporate and non-corporate), while slightly dropping after the financial crisis, grew steadily in 2011 to $11.63 trillion — for the first time it’s higher than its peak 2008 level of $11.41 trillion, according to data released from the Federal Reserve.
That indicates that any deleveraging in the non-financial private sector has already worked its way through the system, else the total amount of debt owed by private companies would still be decreasing.
So, which “large parts of the private sector” being hurt by debt overhang was Krugman referring to?
Get full story here.
Mama Obama tells kids that if their parents don’t vote for her husband, ‘they’re wrong’
By Rebecca DiFede
Not be overshadowed by her husband as the campaign blazes on, First Lady Michele Obama did some campaigning of her own; upon meeting some kids at an event in San Francisco’s Golden Gate Park, Michele told them that they should tell their parents and grandparents to vote for her husband and that, “You can convince wrong people”.
Gee thanks, Mama Obama.
It seems that the First Lady has missed being at the pulpit and telling people how to live their lives (like she did with her ever-popular “Let’s Move” campaign), and so she found a new way to cause a little ruckus. By being her husband’s version of an over-obsessed fan.
Like that girl at the Poison concert who hasn’t washed her “Don’t need nothing but a good time” t-shirt since Bret Michaels signed it in ’88, and who scoffs at everyone who doesn’t think “Every rose has its thorn” is a classic for the ages, Michele Obama seems to be under the impression that everyone would be better off if they voted for her husband. Even if they’re well below the voting age, she relies on them to convince their elders and recruit more followers for the abomination that is her husband’s presidency.
The most bothersome part of this is that these children barely understand the issues that are being presented to the American people from the candidates, much less the fact that the First Lady is trying to manipulate them for her husband’s benefit. They are too young and innocent to realize her ulterior motives, and only see a famous figure speaking to them about vagueries that they hear in little sound bites from news stations.
Get full story here.
Not be overshadowed by her husband as the campaign blazes on, First Lady Michele Obama did some campaigning of her own; upon meeting some kids at an event in San Francisco’s Golden Gate Park, Michele told them that they should tell their parents and grandparents to vote for her husband and that, “You can convince wrong people”.
Gee thanks, Mama Obama.
It seems that the First Lady has missed being at the pulpit and telling people how to live their lives (like she did with her ever-popular “Let’s Move” campaign), and so she found a new way to cause a little ruckus. By being her husband’s version of an over-obsessed fan.
Like that girl at the Poison concert who hasn’t washed her “Don’t need nothing but a good time” t-shirt since Bret Michaels signed it in ’88, and who scoffs at everyone who doesn’t think “Every rose has its thorn” is a classic for the ages, Michele Obama seems to be under the impression that everyone would be better off if they voted for her husband. Even if they’re well below the voting age, she relies on them to convince their elders and recruit more followers for the abomination that is her husband’s presidency.
The most bothersome part of this is that these children barely understand the issues that are being presented to the American people from the candidates, much less the fact that the First Lady is trying to manipulate them for her husband’s benefit. They are too young and innocent to realize her ulterior motives, and only see a famous figure speaking to them about vagueries that they hear in little sound bites from news stations.
Get full story here.
Understanding the Unemployment Rate: March 2012
By Rick Manning
Once again, the unemployment rate dropped in March even though there are 31,000 fewer Americans employed than in the month of February.
This strange phenomenon where the government claims that 120,000 new jobs were created, yet fewer Americans are actually employed in those jobs is the result of the data being collected in two distinctly different surveys, and is just one more reason why the monthly unemployment rate no longer reflects the reality of America’s economic situation.
The truth is that 4.7 million Americans who have dropped out of the nation’s labor force are not being counted as unemployed, according to the government’s own data. If these labor force drop outs were counted in the ranks of the unemployed, the real unemployment rate would be 10.8 percent, instead of the claimed 8.2 percent.
This brief, updated, synopsis of some of the key elements of the true unemployment situation since Obama took office in January 2009 will provide a behind the numbers look at the real state of employment in America.
Each month, the Labor Department’s Bureau of Labor Statistics takes a survey snapshot of the nation’s employment situation in an attempt to determine the unemployment rate for the nation’s non-institutionalized civilian population.
While there are many interesting pieces to the unemployment rate puzzle, I have found the following four numbers most informative and enlightening: the non-institutionalized civilian population, the labor participation rate, the number of Americans who are employed and the number of people who classify themselves as “not in the labor force.”
There are obviously other very important statistics like the number of unemployed, which shows more than 12.7 million people who want a job and can’t find one. The scope of the number of people who are unemployed cannot be underestimated in terms of the human toll being created by Obama’s failed economic policies.
The reason that this number is not one of the four that I focus upon is that the number of unemployed does not include those who have dropped out of the labor force, so it significantly understates the scope of the unemployment problem in America.
Get full story here
Once again, the unemployment rate dropped in March even though there are 31,000 fewer Americans employed than in the month of February.
This strange phenomenon where the government claims that 120,000 new jobs were created, yet fewer Americans are actually employed in those jobs is the result of the data being collected in two distinctly different surveys, and is just one more reason why the monthly unemployment rate no longer reflects the reality of America’s economic situation.
The truth is that 4.7 million Americans who have dropped out of the nation’s labor force are not being counted as unemployed, according to the government’s own data. If these labor force drop outs were counted in the ranks of the unemployed, the real unemployment rate would be 10.8 percent, instead of the claimed 8.2 percent.
This brief, updated, synopsis of some of the key elements of the true unemployment situation since Obama took office in January 2009 will provide a behind the numbers look at the real state of employment in America.
Each month, the Labor Department’s Bureau of Labor Statistics takes a survey snapshot of the nation’s employment situation in an attempt to determine the unemployment rate for the nation’s non-institutionalized civilian population.
While there are many interesting pieces to the unemployment rate puzzle, I have found the following four numbers most informative and enlightening: the non-institutionalized civilian population, the labor participation rate, the number of Americans who are employed and the number of people who classify themselves as “not in the labor force.”
There are obviously other very important statistics like the number of unemployed, which shows more than 12.7 million people who want a job and can’t find one. The scope of the number of people who are unemployed cannot be underestimated in terms of the human toll being created by Obama’s failed economic policies.
The reason that this number is not one of the four that I focus upon is that the number of unemployed does not include those who have dropped out of the labor force, so it significantly understates the scope of the unemployment problem in America.
Get full story here
Muslim Brotherhood rejects ex-spy chief’s candidacy
By loripender2
Monday, April 9, 2012
Cairo, Egypt (CNN) — A Muslim Brotherhood candidate for next month’s presidential elections here lashed out Monday at the 11th-hour entrance into the race by Omar Suleiman, the former spy chief to deposed strongman Hosni Mubarak.
“We are not against the
concept of anyone running as long as he has the right legal status, but
it’s unacceptable to have one of the symbols of Mubarak’s regime run for
president,” Khairat el-Shater told CNN. “The majority of Egyptians will
not accept him. His candidacy is an insult to the revolution.”
The only way Suleiman
could win would be by forgery, el-Shater said. “If there is a 1% chance
of forgery in the elections, and he wins that way, then all the
Egyptians — not just the Muslim Brotherhood — will take to the streets.”
Elections are scheduled to start May 23.
El-Shater said the
brotherhood’s political arm, the Freedom and Justice Party, would
respect “all signed treaties,” including the 1978 Camp David Accords
with Israel. “Regardless of any opinion toward these treaties, they were
accepted by decent entities in the country, and it does not mean that
changing the political system will affect the treaties.”
But he noted that the
accords included a component “about respecting the rights of
Palestinians. The Egyptians respected their part of the deal but the
Israelis — until now — have not respected the Palestinian rights. The
Egyptians complied, but the Israelis did not.”
El-Shater said the timing
of a loan from the International Monetary Fund to the Egyptian
government could prove problematic. “The timing is the problem because
we don’t think this interim government is performing well, so we object
that they take this loan and spend it in two months, then the new
government worries about paying it back.”
Whatever happens in the
election, the top priority for the Muslim Brotherhood and the Freedom
and Justice Party is to ease sectarian tensions, which built under
Mubarak’s regime, he said. “Mubarak’s former regime really oppressed the
Coptics and the Muslims because his system was based on tyranny. We aim
to rebuild our nation again.”
Suleiman entered the race just hours before the Sunday deadline, said Hatem Bjato, who heads the election committee.
Suleiman had initially
said he would not seek the presidency in the first election for the post
since the revolution that led to the toppling of Mubarak. But on
Friday, Suleiman did an about-face, saying he felt obliged to
supporters.
“I promise you, my
brothers and sisters, to complete the goals of the revolution and
provide security and stability to the Egyptian people,” he said in a
written statement Friday.
The status of another candidate was less certain.
A court ruled that
liberal opposition leader Ayman Nour will not be allowed to compete
because he was jailed in recent years, the candidate’s son said
Saturday. Nour was recently pardoned and plans to appeal, the son said.
That decision could affect the future of al-Shater, since he too was pardoned for his past convictions.
A millionaire
businessman who served two prison terms under Mubarak, al-Shater is
considered a conservative, though he is also credited as being the
driving force behind the Brotherhood’s affirmation that Egypt should
continue to honor its international agreements.
Fearful for the future
of its candidates, the Muslim Brotherhood nominated Saturday an
alternative, Mohammed Morsi, chief of the Freedom and Justice Party. “We
are protecting the revolution and all of its goals. … We have decided
as the Brotherhood and its party to nominate Mohammed Morsi as our
backup candidate for president,” it said in a statement.
The group had pledged
repeatedly that it would not field a presidential candidate. But
candidates from its political arm won the largest share of seats in
Egypt’s parliamentary elections in December. And Brotherhood leader
Mohamed Badie has said the new Egypt “is under a serious threat” because
its current military-led government “has failed to represent the will
of the people.”
A military junta took power after Mubarak’s ouster.
Salafist candidate Hazem
Abu Ismael was also disqualified from running in the election because
of his mother’s U.S. citizenship, state television reported Saturday.
The deceased mother of
Abu Ismael held U.S. citizenship and used her U.S. passport to enter
Egypt three times, Egypt’s Interior Ministry has said.
Ismael had said that his
mother held a green card residency permit but was not a U.S. citizen.
He told a private Egyptian TV program that his sister was married to an
American and had obtained U.S. citizenship, but that his mother had not.
More than 450 people registered or announced plans to seek the presidency.
CNN’s Ian Lee and journalist Mohamed Fadel Fahmy contributed to this report.
Breaking News: Special Prosecutor Decides Against Grand Jury in Trayvon Martin Case, Will This Help Get Justice For Trayvon?
by Thembi Ford
The glimmer of hope in the ongoing battle for justice in the Trayvon Martin case has been that a grand jury was to be called this week, but the new special prosecutor handling the case has decided against it. A grand jury could have determined that there is enough evidence to arrest George Zimmerman for shooting Martin on February 26, now over forty days ago — as you know Zimmerman remains free and has not yet been arrested.
State Attorney Angela Corey’s office said that her choice not to use a grand jury “should not be considered a factor in the final determination of the case,” noting that she and her team of prosectors have the authority to arrest Zimmerman at any time.
This decision has two effects: First, the Martin family has been against the use of a grand jury because the process is often secretive and in spite of the overwhelming evidence of wrongdoing on Zimmerman’s part, a jury of his peers might find that his actions do not require an arrest. This means, then, that the burden of resolving this case rests solely with Florida prosecutors, who have not yet put forth a timetable for action on the case and say that they are still reviewing evidence.
Which leads to the second effect: with the grand jury canceled the case has stalled yet again. People are really starting to need answers, so expect more disappointment, Zimmerman family shady lawyering, and outrage until this case has some movement.
The glimmer of hope in the ongoing battle for justice in the Trayvon Martin case has been that a grand jury was to be called this week, but the new special prosecutor handling the case has decided against it. A grand jury could have determined that there is enough evidence to arrest George Zimmerman for shooting Martin on February 26, now over forty days ago — as you know Zimmerman remains free and has not yet been arrested.
State Attorney Angela Corey’s office said that her choice not to use a grand jury “should not be considered a factor in the final determination of the case,” noting that she and her team of prosectors have the authority to arrest Zimmerman at any time.
This decision has two effects: First, the Martin family has been against the use of a grand jury because the process is often secretive and in spite of the overwhelming evidence of wrongdoing on Zimmerman’s part, a jury of his peers might find that his actions do not require an arrest. This means, then, that the burden of resolving this case rests solely with Florida prosecutors, who have not yet put forth a timetable for action on the case and say that they are still reviewing evidence.
Which leads to the second effect: with the grand jury canceled the case has stalled yet again. People are really starting to need answers, so expect more disappointment, Zimmerman family shady lawyering, and outrage until this case has some movement.
Do you think the exclusion of the grand jury will make justice for Trayvon more likely?
Thursday, April 5, 2012
No African-American senators likely in near future
(CNN) - Few might realize it, but
Tuesday's primary elections might have quietly sealed the racial and
ethnic makeup of the U.S. Senate for a couple of more years.
Read Store
Subscribe to:
Posts (Atom)