Yes, the fabric of our society has unraveled to the point where the following principles are reviled as "extreme" and "right wing" by antique media and the punditry class:
Thousands of years of civilization have taught us the paramount importance and wisdom of individual sovereignty, private property, self-reliance and limited government. These are the precious gifts our country's founders bequeathed to us.
Now, in Washington, we have corrupt and craven politicians who stress the sovereignty of government, collectivism, reliance on handouts and the need for an unconstrained government.
But we Constitutional Conservatives are the extreme ones, right?
Hat tip: MOTUS.
Tuesday, November 27, 2012
CLICK: Hotel Keycard Attack Just Got Real in Texas
Ruh roh:
Sebastian Anthony has a suitable and pithy response to Onity's, eh, carelessness:
My advice: bar the hotel room door and secure it with a chair against the door jamb. Oh, and don't leave valuables in the room safe either. That's easily hacked too.
(Just wondering: isn't it about time security hardware companies started taking security more seriously?)
You may remember a vulnerability in four million keycard locks presented at the Black Hat conference in July. Hacker Cody Brocious showed he could insert a device he built for less than $50 into the port at the bottom of the common hotel lock, read a key out of its memory, and open it in seconds...
...Two months later, it turns out at least one burglar was already making use of that technique to rob a series of hotel rooms in Texas. The Hyatt House Galleria in Houston has revealed that in at least three September cases of theft from its rooms, the thief used that Onity vulnerability to effortlessly open rooms and steal valuables like laptops...
...at least two other hotels in Texas were hit with the attack. Onity has been criticized for its less-than-stellar response to a glaring vulnerability in its devices. The Hyatt says Onity didn't provide a fix until after its break-ins, forcing the hotel to plug its locks' ports with epoxy. And even now, Onity is asking its hotel customers to pay for the full fix, which involves replacing the locks' circuit boards.
Sebastian Anthony has a suitable and pithy response to Onity's, eh, carelessness:
The hack in its entirety is detailed on Brocious’s website, but in short: At the base of every Onity lock is a small barrel-type DC power socket (just like on your old-school Nokia phone). This socket is used to charge up the lock’s battery, and to program the lock with a the hotel’s “sitecode” — a 32-bit key that identifies the hotel. By plugging an Arduino microcontroller into the DC socket, Brocious found that he could simply read this 32-bit key out of the lock’s memory. No authentication is required — and the key is stored in the same memory location on every Onity lock... The best bit: By playing this 32-bit code back to the lock… it opens. According to Brocious, it takes just 200 milliseconds to read the sitecode and open the lock.
As for how Onity justifies such a stupendously disgusting lack of security, who knows. Generally, as far as managerial types go, securing a system seems like a frivolous expense — until someone hacks you. In non-high-tech circles, hacks like this are par for the course — usually, a company doesn’t hire a security specialist until after its first high-profile hack. For a company that is tasked with securing millions of humans every night, though, it would’ve been nice if Onity had shown slightly more foresight.
My advice: bar the hotel room door and secure it with a chair against the door jamb. Oh, and don't leave valuables in the room safe either. That's easily hacked too.
(Just wondering: isn't it about time security hardware companies started taking security more seriously?)
THE REAL CRASH: Surviving America's Bankruptcy
Author and business analyst Peter Shiff was one of the few pundits to predict the 2008 financial crisis. His latest book, "The Real Crash: America's Coming Bankruptcy---How to Save Yourself and Your Country", describes the nature of the crisis yet to come.
As Chris Cox and Bill Archer -- former members of President Clinton's Commission on Entitlement and Tax Reform -- explain in today's Wall Street Journal, the official national debt figure of $16 trillion is woefully understated.
The real figure is in excess of $87 trillion -- or roughly 550 percent of GDP.
And what do we hear from Democrats and Repubicans in Washington? Nonsense about taxing the top two percent, which wouldn't amount to one-tenth of one percent of the real debt.
The main problem--and where most of the other problems begin--according to Schiff, is the Fed's manipulation of interest rates. By interfering with the free market value of money, and making it cheaper than the market would dictate, the Fed encourages financial bubbles that then necessarily pop. When a bubble pops, the market needs to correct itself; however, over the past 20 years, the Fed has not really allowed this correction to take place, as every time a bubble pops the Fed has lowered the interest rate even further, causing more money to enter the system and a new bubble to form. First it was dot-com stocks, then it was housing, and now it is government spending.
As a matter of fact, while government spending has reached new and mind-boggling heights in the recent past, it has actually been ballooning in this direction for years, spurred on largely by the low-interest rates that the Fed has provided. The government has used this borrowed money to maintain and extend social programs (such as Social Security and Medicare), and, more recently, bailout packages for failing businesses and entire industries. All the while, the government has been going deeper and deeper into debt. A big part of what has allowed the American government to borrow as much as it has (and to keep on borrowing now) is the fact that the American dollar is the world's reserve currency, which means it is always in demand, and hence people and organizations have been willing to act as creditors in order to get it. For Schiff, though, the sheer size of the debt, and the fact that it is running away faster and faster everyday (and has no realistic chance of ever being repaid) will sooner or later turn investors away from considering the American dollar a valuable reserve--at which point it will lose its status as the world's reserve, and investors will stop investing in it.
At this point, the American government will have but two options. It can either declare bankruptcy, or it can print the money it needs to pay its debt. In either case, an enormous crash will result, for in the first case, an astronomical sum of money that the economy had assumed existed will suddenly be wiped away, and in the latter case hyperinflation will set in, and the American dollar will be whittled down to worthless.
...the country will be forced to start over. For Schiff, this may not be such a bad thing, for, according to him, the nation has simply put itself in an unsustainable position, and the sooner it starts over the better. At that time, Schiff argues, America can finally get back to the small government and free-market forces that the country's founding fathers designed the nation around. While much of the book is focused on how the country can do this now, before the crash hits (in such areas as banking & finance, taxation, healthcare, education, the military, et. al.), Schiff very much believes that nothing can actually prevent the crash from coming, and that therefore, most of the rebuilding will have to be done after The Real Crash.
As Chris Cox and Bill Archer -- former members of President Clinton's Commission on Entitlement and Tax Reform -- explain in today's Wall Street Journal, the official national debt figure of $16 trillion is woefully understated.
The real figure is in excess of $87 trillion -- or roughly 550 percent of GDP.
And what do we hear from Democrats and Repubicans in Washington? Nonsense about taxing the top two percent, which wouldn't amount to one-tenth of one percent of the real debt.
Larwyn's Linx: Mark Levin Slams Republican Sell-Outs on Taxes
Send us tips! Bloggers: install a Larwyn's Linx widget. Get real-time news, 24/7, at BadBlue.
Retire #Taxby Chambliss: RSM
The New Politics of Discrimination: Dossier
The Benghazi-Syria Connection: RS
Obama's quality of mercy is surprisingly strained: Exam
Cleveland Rally Calls For the Destruction of Israel: IPT
Mark Levin: Let the fiscal cliff happen: Scoop
On Black Friday, Treasury Borrowed $212 Per Household: CNS
In Reward for Their Service Barack Obama Is Firing 20,000 Marines: GWP
Obama Thanks Young Voters with Student Aid Cuts: RedAlert
On Not Cooperating With Obamacare: NRO
One way to fight Obamacare: "Go limp" : Pundette
NOT BREAKING: Unions Hurt Democracy, Consumers and Economy: AIM
Alan Grayson Bounced from Wal-Mart for Union Agitating: WZ
Justice Ginsburg: We Need An All-Female Supreme Court: CNS
Texas A&M to pay damages for discrimination against conservatives: Campus Reform
CIA Quietly Closes Global Warming Unit: JW
Iran Positioned to Threaten Oil Lanes: OilPrice
Carney: "It Would Ruin The Fun" If I Gave Away All Of Obama's Fiscal Cliff Plans: RCP
Flashback: Do You Remember Those Racist Condi Rice Cartoons?: CDN
Paul Krugman’s ‘Remarkable Success Story’ in Latin America: Cato
Chris Christie announces he's running for re-election. As a Republican?: WyBlog
Grover Norquist: 'Warren Buffett Should Write a Check and Shut Up': NB
Right Wing Christian Extremist to Execute 12 Homosexuals: Jawa
Saudi Mujahid Sheikh: Jihad Against The Cursed Jews Everywhere Is A Supreme Duty: MEMRI
Assad's Troops Wipe Out a Playground Full of Children in Syria: AtlWire
White House Refuses To Condemn Morsi’s Dictatorial Power Grab: WZ
Mexican Beauty Queen Killed in Shooutout: AP
Cuban-American Vote Explains Everything: RWN
Today’s Op-Ed by Condi Rice in WaPo Is a Must-Read: Sentinel
Obama ‘drone-warfare rulebook’ condemned by human rights groups: RedAlert
Google Fiber Ignites Kansas City Startup Scene: Mashable
DIY mass iFrame injecting Apache module sold online: NetSec
Sandra Fluke is a candidate for Time’s “Person of the Year.”: IHTM
SCOTUS revives a challenge to Obamacar: Exam
Image: Babalu
Today's Larwyn's Linx sponsored by: Cold Fury
Nation
Mark Levin Slams Republican Sell-Outs on Taxes: ScoopRetire #Taxby Chambliss: RSM
The New Politics of Discrimination: Dossier
The Benghazi-Syria Connection: RS
Obama's quality of mercy is surprisingly strained: Exam
Cleveland Rally Calls For the Destruction of Israel: IPT
Economy
Mark Steyn puts ‘taxing the rich’ in absolute perspective: ScoopMark Levin: Let the fiscal cliff happen: Scoop
On Black Friday, Treasury Borrowed $212 Per Household: CNS
In Reward for Their Service Barack Obama Is Firing 20,000 Marines: GWP
Obama Thanks Young Voters with Student Aid Cuts: RedAlert
On Not Cooperating With Obamacare: NRO
One way to fight Obamacare: "Go limp" : Pundette
NOT BREAKING: Unions Hurt Democracy, Consumers and Economy: AIM
Alan Grayson Bounced from Wal-Mart for Union Agitating: WZ
Scandal Central
Notre Dame Player in Deadly Assault Scandal Still Playing: WizbangJustice Ginsburg: We Need An All-Female Supreme Court: CNS
Texas A&M to pay damages for discrimination against conservatives: Campus Reform
Climate & Energy
Feds Planning to Regulate Hydraulic Fracturing Despite State Successes: CFPCIA Quietly Closes Global Warming Unit: JW
Iran Positioned to Threaten Oil Lanes: OilPrice
Media
Conservative Blogger Poll Results: Who Should The GOP Choose As Their Nominee in 2016?: RWNCarney: "It Would Ruin The Fun" If I Gave Away All Of Obama's Fiscal Cliff Plans: RCP
Flashback: Do You Remember Those Racist Condi Rice Cartoons?: CDN
Paul Krugman’s ‘Remarkable Success Story’ in Latin America: Cato
Chris Christie announces he's running for re-election. As a Republican?: WyBlog
Grover Norquist: 'Warren Buffett Should Write a Check and Shut Up': NB
World
PRAVDA: Obama Voters "Illiterate"; Support 'Communist Without Question'; 'Their Suffering Has Only Begun': RRRight Wing Christian Extremist to Execute 12 Homosexuals: Jawa
Saudi Mujahid Sheikh: Jihad Against The Cursed Jews Everywhere Is A Supreme Duty: MEMRI
Assad's Troops Wipe Out a Playground Full of Children in Syria: AtlWire
White House Refuses To Condemn Morsi’s Dictatorial Power Grab: WZ
Mexican Beauty Queen Killed in Shooutout: AP
Cuban-American Vote Explains Everything: RWN
Today’s Op-Ed by Condi Rice in WaPo Is a Must-Read: Sentinel
Obama ‘drone-warfare rulebook’ condemned by human rights groups: RedAlert
Sci-Tech (courtesy BadBlue.com/Tech)
Should You Buy the $129 Amazon Kindle Fire?: PCMagGoogle Fiber Ignites Kansas City Startup Scene: Mashable
DIY mass iFrame injecting Apache module sold online: NetSec
Cornucopia
In Which Instapundit Tells Me to Cheer Up, For Goodness's Sake: RicochetSandra Fluke is a candidate for Time’s “Person of the Year.”: IHTM
SCOTUS revives a challenge to Obamacar: Exam
Image: Babalu
Today's Larwyn's Linx sponsored by: Cold Fury
QOTD: [Come January, more than two-thirds of the states will be under single-party control,] "an interesting phenomenon to watch during the next four years of a continued Obama economy. As the choices made by individual states become more starkly partisan and the results start rolling in, we’re going to be able to compare apples to apples — and I’d bet good money that red states are going to start seeing significant gains in areas over which they have control.
For instance, California has a massive debt crisis on hand, and is sitting atop oil and gas reserves four times as large as those available in the Bakken Formation in North Dakota. Although California could sorely use the revenue and jobs that tapping into those resources more would create, they’re obstinately committed to developing an economy more focused on renewables. North Dakota, meanwhile, is taking full advantage of their energy resources, and their economy is going gangbusters with an unemployment rate hovering around three percent.
Implementing ObamaCare, education policy, regulatory agendas, taxes, energy development — there are plenty of policy decisions on which the parties will be able to make their specific mark, and the contrasts between good policies and bad policies are going to be much more readily apparent." --Erika Johnsen
Monday, November 26, 2012
BUT IT'S ALL ABOUT FAIRNESS: 144,000 households, 1 percent of taxpayers, pay half of California's income taxes
Fairness. That's the word I associate with massive, bloated, Democrat-controlled failed states like California.
California is destroying itself -- the U.S. is next.
...One of the more egregious aspects of Brown’s [Proposition 30] is the retroactivity of the income tax increase, which would apply to all income earned after January 1, 2012. [Imposition of] this retroactive tax hike makes it clear to businesses that if they want some semblance of certainty in tax planning, they must leave California. Campbell’s Soup, Comcast, and Samsung have been the latest to come to this realization; either shutting down facilities in-state or moving operations outside of California.
California residents already contend with one of the most progressive tax codes in the country. Not only does California have high marginal rates, those high rates kick in at relatively modest income levels. California’s middle class residents earning $48,000 a year, for example, pay a state tax rate of 9.3%. Millionaires in 47 other states don’t even pay that high of a marginal rate. However, one of the state tax code’s greatest flaws is it’s over-reliance on upper income households and the revenue volatility it creates, and that is a problem that Prop. 30 would further exacerbate.
As of 2010, the state relied upon 144,000 households, 1 percent of taxpayers, for 50 percent of total state income tax... [With Proposition 30's passage,] the top 10 percent of earners would be responsible for over 80% of the projected income generated - a fact that Gov. Brown and other advocates of the bill readily acknowledge.
California is destroying itself -- the U.S. is next.
POOR RICHARD'S PROGRESSIVE ALMANAC: The Bizarro Ben Franklin's Most Infamous Quotes
What if Benjamin Franklin had been a progressive? Well, for one thing, no one would have ever heard of him, but -- more importantly -- some of his quotes in Poor Richard's Almanac would be dramatically different:
• A penny saved is a penny best confiscated by the government and redistributed to the rulers' green energy scams
• The early bird shouldn't get the worm, in the interest of fairness
• Honesty is the best policy, except when serving in public office
• Energy and persistence are overrated
• Never do today what you can leave till tomorrow
• God helps those who help themselves to others' labors
• Rather go to bed with dinner and rise in debt
• The Constitution grants people the right to happiness, whether they pursue it or not
• Early to bed and early to rise, makes no difference, because in the interest of fairness, those who rise late should be treated equally
Each of these quotes represents the antithesis of their original intent. Yet each represents a platform of the modern Democrat Party.
• A penny saved is a penny best confiscated by the government and redistributed to the rulers' green energy scams
• The early bird shouldn't get the worm, in the interest of fairness
• Honesty is the best policy, except when serving in public office
• Energy and persistence are overrated
• Never do today what you can leave till tomorrow
• God helps those who help themselves to others' labors
• Rather go to bed with dinner and rise in debt
• The Constitution grants people the right to happiness, whether they pursue it or not
• Early to bed and early to rise, makes no difference, because in the interest of fairness, those who rise late should be treated equally
Each of these quotes represents the antithesis of their original intent. Yet each represents a platform of the modern Democrat Party.
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HEY, I'M DOWN WITH JUSTICE GINSBURG'S IDEA: We do need an all-female Supreme Court!
Yes, she really said that:
Unlike progressives, we conservatives care about the quality of each Justice's mind, not their genitalia, skin color or religion. We cherish their virtue, their integrity and their fidelity to our nation's highest law -- the Constitution. The content of their character, as Martin Luther King, Jr. so eloquently put it, not the content of their undergarments.
But all that said, I do support an all-female Supreme Court, so long as it consists of:
Michele Bachmann
Deneen Borelli
Ann Coulter
S.E. Cupp
Mary Katherine Ham
Dana Loesch
Michelle Malkin
Sarah Palin
Katie Pavlich
I'm not sure if this qualifies as a "Rule 5" post or not, but has anyone else noticed how smoking hot conservative women are compared to their progressive counterparts?
Hat tip: John Hawkins.
Supreme Court Justice Ruth Bader Ginsburg says there will be enough women on the Supreme Court when all nine justices are female.
“...when I’m sometimes asked when will there be enough [women on the Supreme Court]? And I say when there are nine, people are shocked. But there’d been nine men, and nobody’s ever raised a question about that,” she said.
Unlike progressives, we conservatives care about the quality of each Justice's mind, not their genitalia, skin color or religion. We cherish their virtue, their integrity and their fidelity to our nation's highest law -- the Constitution. The content of their character, as Martin Luther King, Jr. so eloquently put it, not the content of their undergarments.
But all that said, I do support an all-female Supreme Court, so long as it consists of:
Deneen Borelli
Ann Coulter
S.E. Cupp
Mary Katherine Ham
Dana Loesch
Michelle Malkin
Sarah Palin
Katie Pavlich
I'm not sure if this qualifies as a "Rule 5" post or not, but has anyone else noticed how smoking hot conservative women are compared to their progressive counterparts?
Hat tip: John Hawkins.
Larwyn's Linx: Don't Give Up
Send us tips! Bloggers: install a Larwyn's Linx widget. Get real-time news, 24/7, at BadBlue.
Surprising No One, Lindsey Graham Pledges To Violate Prior Pledge: Ace
From Healthcare to Holocaust: NewAm
US chooses stability over democracy in Egypt: Commentator
Hamas Cease-Fire For Kids: R&R
Another shameless power grab coming from MA Dems?: Sarah
Shifra’s Reflections on the Election: Bruce
States Choose Own Paths With One-party Governments: Barone
DHS Flushes Away Almost Half a Billion on Unused Radios: MB
Get Ready For The Regulatory Cliff: LoneCon
Physician’s New Reality: Patients Ask Me to Break the Law: PJM
The Problem With Susan Rice: RCP
DNI Director Draws Benghazi Cover-Up Short Straw: Forbes
GOP warns it will shut down Senate if Reid uses nuclear option: WZ
Sandy Victim Obama Promised “Immediate Help” In Iconic Photo Still Hasn’t Received Any Help: WZ
A Starting Line And A Dump: Staten Island, The Forgotten Borough: SuicideGirls
UN Climate Change Thieves Gather in Qatar: CFP
Stacy McCain Closes the Trap: DTG
Richard Grenell slams NBC’s ‘Meet the Press’ for using biased MSNBC personalities as ‘analysts’: Twitchy
FDL's Kevin Gosztola Wanted Bush-Cheney War Crimes Prosecutions But Gives Obama a Pass: AmPower
Kirsten Powers: Rice Nomination May be Obama’s Undoing: Nice Deb
Americans react to Pravda mockery of “illiterate” Obama voters: Twitchy
The Diplomat: a Creepy Photograph: Hawkins
Whoopi Retweets Massacre Lie About Israel: Breitbart
ACLJ & Jay Sekulow Sue CA School District: RWN
Israel to strike ships carrying Iranian arms to Gaza: Matzav
First jet lands on Chinese aircraft carrier: ArmyTimes
Why there are no bomb shelters in Gaza: Commentator
Hamas TV Airs 'Death to Israel!' Music Video Day After Agreeing to Ceasefire: WS
Iranian Blogger Who Criticized Government Tortured To Death In Prison: Atlas
Ahmadinejad again calls to "wipe Israel off the map": JihadWatch
Bolton: Obama’s blindness to what motivates Egyptian President Morsi is a “bad, bad sign”: Scoop
Fire Kills 112 Workers Making Clothes for US Brands: ABC
Reuse an old router to bridge devices to your wireless network: CNet
What is your body worth?: DataGenetics
A Bucket-full of Thanks!: MOTUS
Around the Star Trek world in 150 years: Ars Technica
Image: BigLeadSports - R.I.P. Hector Camacho
Today's Larwyn's Linx sponsored by: Diogenes' Middle Finger
Nation
Don't Give Up: Sultan KnishSurprising No One, Lindsey Graham Pledges To Violate Prior Pledge: Ace
From Healthcare to Holocaust: NewAm
US chooses stability over democracy in Egypt: Commentator
Hamas Cease-Fire For Kids: R&R
Another shameless power grab coming from MA Dems?: Sarah
Shifra’s Reflections on the Election: Bruce
States Choose Own Paths With One-party Governments: Barone
DHS Flushes Away Almost Half a Billion on Unused Radios: MB
Economy
ObamaCare Stupifies Your Doctor Visits: HideoutGet Ready For The Regulatory Cliff: LoneCon
Physician’s New Reality: Patients Ask Me to Break the Law: PJM
Scandal Central
Are we really facing a regulatory onslaught?: Hot AirThe Problem With Susan Rice: RCP
DNI Director Draws Benghazi Cover-Up Short Straw: Forbes
GOP warns it will shut down Senate if Reid uses nuclear option: WZ
Sandy Victim Obama Promised “Immediate Help” In Iconic Photo Still Hasn’t Received Any Help: WZ
A Starting Line And A Dump: Staten Island, The Forgotten Borough: SuicideGirls
Climate & Energy
Where CO2 comes from: Power LineUN Climate Change Thieves Gather in Qatar: CFP
Media
Hoax Claiming Walmart Heiress Supported Friday Protests Fools USA Today: NBStacy McCain Closes the Trap: DTG
Richard Grenell slams NBC’s ‘Meet the Press’ for using biased MSNBC personalities as ‘analysts’: Twitchy
FDL's Kevin Gosztola Wanted Bush-Cheney War Crimes Prosecutions But Gives Obama a Pass: AmPower
Kirsten Powers: Rice Nomination May be Obama’s Undoing: Nice Deb
Americans react to Pravda mockery of “illiterate” Obama voters: Twitchy
The Diplomat: a Creepy Photograph: Hawkins
Whoopi Retweets Massacre Lie About Israel: Breitbart
ACLJ & Jay Sekulow Sue CA School District: RWN
World
Why did Obama broker a victory for Hamas?: Power LineIsrael to strike ships carrying Iranian arms to Gaza: Matzav
First jet lands on Chinese aircraft carrier: ArmyTimes
Why there are no bomb shelters in Gaza: Commentator
Hamas TV Airs 'Death to Israel!' Music Video Day After Agreeing to Ceasefire: WS
Iranian Blogger Who Criticized Government Tortured To Death In Prison: Atlas
Ahmadinejad again calls to "wipe Israel off the map": JihadWatch
Bolton: Obama’s blindness to what motivates Egyptian President Morsi is a “bad, bad sign”: Scoop
Fire Kills 112 Workers Making Clothes for US Brands: ABC
Sci-Tech (courtesy BadBlue.com/Tech)
The Business Of Commercial Exploit Development: Dark ReadingReuse an old router to bridge devices to your wireless network: CNet
What is your body worth?: DataGenetics
Cornucopia
Can America Handle the Truth?: WesternA Bucket-full of Thanks!: MOTUS
Around the Star Trek world in 150 years: Ars Technica
Image: BigLeadSports - R.I.P. Hector Camacho
Today's Larwyn's Linx sponsored by: Diogenes' Middle Finger
QOTD: "...doctors will be obligated — that’s right, obligated — to talk to you about things you may have no interest or need to talk about.
You may just want to have a pap smear or check your cholesterol. However, I am now mandated by the government to talk to you about your weight, exercise, family life, smoking, sexual abuse(!), and even to ask if you wear seat belts. And I am mandated to record your answers." --Dr. Peter Weiss
Sunday, November 25, 2012
HELPFUL CHART: The idiocy of raising taxes on "the rich" (and by that, they mean small business owners)
Considering the Democrat establishment and the media (but I repeat myself) are engaged in an annoying, fact-free debate over tax rates and government receipts, I figured 'hey, why not do the job antique media should be doing?'
In this case, use actual "data" and "history" to come to some conclusions. Yes, out of the box thinking, I know.
Using data culled from the Tax Policy Center and the National Taxpayer's Union, I've plotted out a historical picture of individual tax rates on the highest wage-earners vs. individual tax receipts received by the federal government.
So what do facts, logic and reason tell us?
Here are some observations:
• The Reagan tax cuts ignited the greatest explosion in receipts from individuals to the government in history. Even Bill Clinton was the beneficiary.
• And Clinton also benefited from the the invention of the World-Wide Web, which touched off the tech boom during the nineties. The Clinton tax rate would have certainly suppressed growth had it not been for the coincidental occurrence of the tech boom and the massive spending on the Y2K (Year 2000) remediations that required investments of nearly a trillion dollars before the turn of the millenium.
• After the 9/11 attacks had sucked half a trillion dollars out of the economy, the Bush tax cuts helped revive the economy. That is, until the Democrats' grand experiment with Fannie Mae, Freddie Mac and subprime borrowers touched off the mortage meltdown.
The government has a spending problem, not a revenue problem. And raising taxes on the most productive Americans -- including the small businesses who employ 54 percent of the private sector -- will have a debilitating effect on the economy.
Of course, facts, logic, history and reason are all anathema to Democrats and the media, which is why you'll never see any of these issues discussed.
In this case, use actual "data" and "history" to come to some conclusions. Yes, out of the box thinking, I know.
Using data culled from the Tax Policy Center and the National Taxpayer's Union, I've plotted out a historical picture of individual tax rates on the highest wage-earners vs. individual tax receipts received by the federal government.
So what do facts, logic and reason tell us?
Here are some observations:
• The Reagan tax cuts ignited the greatest explosion in receipts from individuals to the government in history. Even Bill Clinton was the beneficiary.
• And Clinton also benefited from the the invention of the World-Wide Web, which touched off the tech boom during the nineties. The Clinton tax rate would have certainly suppressed growth had it not been for the coincidental occurrence of the tech boom and the massive spending on the Y2K (Year 2000) remediations that required investments of nearly a trillion dollars before the turn of the millenium.
• After the 9/11 attacks had sucked half a trillion dollars out of the economy, the Bush tax cuts helped revive the economy. That is, until the Democrats' grand experiment with Fannie Mae, Freddie Mac and subprime borrowers touched off the mortage meltdown.
The government has a spending problem, not a revenue problem. And raising taxes on the most productive Americans -- including the small businesses who employ 54 percent of the private sector -- will have a debilitating effect on the economy.
Of course, facts, logic, history and reason are all anathema to Democrats and the media, which is why you'll never see any of these issues discussed.
MEDIAITE'S CALIPHATE CHEERLEADER: The Tommy Christopher Chronicles [Updated]
My apologies for the following photo.
This disturbing visage belongs to one Tommy Christopher, the most extreme of Mediaite's eclectic collection of leftist kooks, losers and outcasts. You've never heard of him before, because: (a) he writes for Mediaite; and (b) he's such a radical leftist, even for Mediaite, that the editors have had to tamp down his enthusiastic support for the modern, Marxist-dominated Democrat Party.
In other words, he's an outcast among outcasts.
And his latest masterwork -- "Be Thankful Barack Obama Is President During Latest Gaza Violence" -- offers us an intriguing glimpse into the illogic, inanity, and moral depravity of the American progressive.
Interestingly, Christopher ignores the obvious correlation between Obama's reelection and the timing of the Hamas terror attacks.
But the Hamas terror group's latest offensive represents only a tiny fraction of the foreign policy failures for which the Obama administration is directly responsible.
• Failed to support Iran's "Green Revolution", which could have deposed Iran's radical dictatorship without a shot being fired
• Threw an ally -- Egypt's Hosni Mubarak -- under the bus, which led to the Nazi-aligned Muslim Brotherhood seizing power
• Has failed to strenuously protest Egypt's "President" seizing dictatorial powers
• Allowed Libya's government to fall, yielding to the rise of Al Qaeda in the region and resulting in the deaths of four Americans in a terror attack
• Resisted hard-line sanctions against Iran until Mitt Romney's visit to Israel panicked the Obama administration and forced it into implementing sanctions with "teeth"
• Congratulated Tunisia's radical Islamist government for taking power
• Watched silently as Syria's Iranian-controlled fascist dictator has slaughtered tens of thousands of its own people
Tommy Christopher is a hack and a joke. The only way President Obama's foreign policies can be considered successful is if the goal is the creation of a new Caliphate.
This disturbing visage belongs to one Tommy Christopher, the most extreme of Mediaite's eclectic collection of leftist kooks, losers and outcasts. You've never heard of him before, because: (a) he writes for Mediaite; and (b) he's such a radical leftist, even for Mediaite, that the editors have had to tamp down his enthusiastic support for the modern, Marxist-dominated Democrat Party.
In other words, he's an outcast among outcasts.
And his latest masterwork -- "Be Thankful Barack Obama Is President During Latest Gaza Violence" -- offers us an intriguing glimpse into the illogic, inanity, and moral depravity of the American progressive.
White House Reporter Tommy Christopher declares: “Elections have consequences, but rarely do they become as evident, as quickly, as they have with regard to the recent violence in and around Gaza.” The Israel-Hamas truce, he writes, has saved lives “and it would not have happened without the United States’ involvement.”
In contrast with President Obama’s performance, Christopher points to Mitt Romney’s statements about the Palestinians in the secretly-recorded video published by Mother Jones in September as evidence “Romney was never up to the job of replacing” Obama...
...How do you make peace with someone committed to your destruction? Hamas’ military wing this past week boasted to Israel that they “love death more than you love life.” Even Mahmoud Abbas’ Palestinian Authority which rules the West Bank hasn’t always shown its peace-embracing side. The Palestinian Authority gives generous monthly salaries to convicted terrorists serving time in Israel for killing Israelis – the more severe the crime, the higher the salary. Since the U.S. gives aid to the Palestinian Authority, that means the American taxpayer is funding handouts to terrorists. These being but a few of the countless examples of the Palestinians’ glorifying terrorism, was it really such a stretch for Romney to conclude the Palestinians don’t appear to want a peaceful resolution to the conflict?
Interestingly, Christopher ignores the obvious correlation between Obama's reelection and the timing of the Hamas terror attacks.
It is impossible not to notice the timing of this week’s incipient Middle East regional war. It comes approximately one week after Barack Obama was re-elected to the presidency. Last Tuesday, Obama won re-election; four days later, Hamas began firing rockets on Israel’s southern cities in a new wave. The day after that, Syria began shelling Israeli positions in the north. And two days after that, the Palestinian Authority told the press that they would be making another bid for statehood at the United Nations; the same day, riots began in Jordan over gas price increases... The region is descending into war because of weakness in the White House...
But the Hamas terror group's latest offensive represents only a tiny fraction of the foreign policy failures for which the Obama administration is directly responsible.
• Failed to support Iran's "Green Revolution", which could have deposed Iran's radical dictatorship without a shot being fired
• Threw an ally -- Egypt's Hosni Mubarak -- under the bus, which led to the Nazi-aligned Muslim Brotherhood seizing power
• Has failed to strenuously protest Egypt's "President" seizing dictatorial powers
• Allowed Libya's government to fall, yielding to the rise of Al Qaeda in the region and resulting in the deaths of four Americans in a terror attack
• Resisted hard-line sanctions against Iran until Mitt Romney's visit to Israel panicked the Obama administration and forced it into implementing sanctions with "teeth"
• Congratulated Tunisia's radical Islamist government for taking power
• Watched silently as Syria's Iranian-controlled fascist dictator has slaughtered tens of thousands of its own people
Tommy Christopher is a hack and a joke. The only way President Obama's foreign policies can be considered successful is if the goal is the creation of a new Caliphate.
THE COMING U.S. DEFAULT: Top 10 Fun Facts
A big thing that's lurking beneath our politics -- which most people don't see yet -- is that there is going to be a mad scramble between "investor classes" in the coming US managed bankruptcy, with Obama insisting his coalition be paid off first and Republicans demanding their constituents be first in line to collect the very limited of dollars salvageable from the concern. Four or five dollars have been promised for every dollar actually available. --Ace
Holman Jenkins says that a nicer term for the inevitable U.S. default is 'entitlement reform'. Here are the top 10 inconvenient truths of the coming soft bankruptcy of the United States:
10. A few years ago, when the economy was humming, a common estimate held that federal taxes would have to rise 50% immediately to fully fund entitlement programs.
9. Today, a 50% tax increase would be needed just to meet the government's current spending, never mind its future obligations.
8. State and local taxes would have to increase by $1,385 per household immediately to make good the pension promises to state and local workers, including firefighters and cops.
7. Under Paul Ryan's Medicare plan, the affluent would pay more.
6. Under President Obama's plan, the affluent would flee Medicare to escape the waiting lists, shortages and deteriorating quality as Washington economizes by ratcheting down reimbursements to doctors and hospitals.
5. You don't have a legally enforceable right to the free care you imagined you were promised.
4. If cutting subsidies for Big Bird is unthinkable, a joke, how much more so cutting benefits for middle-class voters?
3. President Obama knows cuts are necessary but seeks to position Democrats politically as the defender of all spending. Notice that, with ObamaCare, he is deliberately creating a constituency of the young to set against the old in future fights over the allocation of federal health care dollars.
2. America's fiscal cliff is an artificial crisis. We have no trouble borrowing in the short term. But at some point the market will demand evidence that long-term balance is being restored.
1. President Obama said in his first post-election press conference that he doesn't want any proposals that "sock it to the middle class." He knows better. A long-term socking is exactly what's coming to the middle class, which must pay for the benefits it consumes.
To paraphrase the Stark clan, Winter is coming.
TRANSFORMING A GARDEN SHOVEL INTO AN AK-47: When shovels are outlawed, only outlaws will have shovels
Boris:
Yes, Boris demonstrates that you can build an AK-47 with a $2 shovel that you bought used at a yard sale.
Cue the protests at hardware stores nationwide by the permaleft.
Hat tip: Ace o' Spades.
Please be aware that hiding in your garage, there may be dozens of Killy, high-clip-capacitated, school-penetrating, children-hating, Assault Weapons of mAss Destruction! Please send this message to all your libtard friends to make sure that they call 911 when they encounter anything that looks like a shovel. Thousands of hardware and home improvement stores are selling AKs through the "shovel" loophole to anyone!
...When I was driving through VT backroads this fall, I stopped at a gun shop and seeing a few ARs made me feel gay enough to visit a dilapidated "antique barn" where farmers sell authentic sh-- from the local dump to idiot tourists. When I smelled a much stronger odor of cow sh--, I saw this shovel and the image of the AK handle came to my exasperated mind. Flustered old dude was suspicious of a comrade in a BMW, on less traveled gravel roads of VT, who barely spoke English and needed a sh-- shovel "for my trunk" but let it go for $2. That's the best $2 I ever spent, closely behind that one time in Montreal - but that's another story...
...Well, this is not the end, it's a beginning, because one night I was drinking with the shovel and contemplating what to do with it. It's funny, when you are sober, you can' understand how a shovel can share with you a delicious drink of vodka. So I said to shovel, I will re-unite you with your handle and we had another round of drinks to celebrate! ...
Yes, Boris demonstrates that you can build an AK-47 with a $2 shovel that you bought used at a yard sale.
Cue the protests at hardware stores nationwide by the permaleft.
Hat tip: Ace o' Spades.
Larwyn's Linx: The Politically Correct Guide to Racism for Idiots
Send us tips! Bloggers: install a Larwyn's Linx widget. Get real-time news, 24/7, at BadBlue.
Shout Racism And Stop The Debate!: MagNote
Our laboratories of democracy are moving toward one-party rule: Hot Air
Socialist Healthcare Is Now Obamacare Reality: Sentinel
Whither the Republicans: AT
Professor Praises Stalin: Never Committed One Crime: RWN
GOP Doomed if Establishment Prevails: AT
Carville: 80 percent of Democrats are politically clueless: Clash
Esrtwhile Harry Reid Allies Slam His Behavior During Campaign: WZ
Senator Chambliss to vote for tax increases: AT
From Currency Debasement To Social Collapse: 4 Case Studies: ZH
Why Is The Latino Poverty Rate So High?: Foundry
Why do progressives hate the poor?: LI
10 Most American-Made Cars Of 2012: Street
Obama Admin Uses 'Green Energy' Loans to 'Recycle' Money Back to Donors: Breitbart
Four Islamists on Gov. Christie’s Muslim Outreach Committee: ParamusPost
EPA report arrogant, ambiguous: Foster's Daily Democrat
French Eco-Kooks Squat in Trees to Prevent Airport Construction: Blaze
Breaking the Monopoly of the Mainstream (Conservative) Media: Spengler
Mediaite Thankful Barack Obama is President During Latest Gaza Violence: Blaze
The Media's Benghazi Scandal: Wehner
Boston Globe already has Elizabeth Warren buyer’s remorse: LI
Government Twinkies: It's Big Fur Hat
Russia Sends Warships To Gaza Coast: ZH
AP Interview: Hamas No. 2 rejects Gaza arms halt: SFGate
The Israel-Hamas clash of civilizations: Hayom
Meanwhile, in Hell, amidst the flames, a delighted Goebbels breaks into song: Babalu
Clashes continue into the night in Egypt: JPost
Hezbollah threatens to hit central Israel in future war: Times of Israel
That Other War: ForPol
Foster parents 'stigmatised and slandered' for being members of Ukip: Telegraph
Making a Better Cup at Home: WSJ
Survival of the Fattest: ZH
And Now, A Guy Raps “Look At Me Now” In Family Guy Voices: Waznmentobe
Ricky Hatton retires after Vyacheslav Senchenko defeat: BBC
Image: Pirate's Cove
Today's Larwyn's Linx sponsored by: Maggie's Farm
Nation
The Politically Correct Guide to Racism for Idiots: CDNShout Racism And Stop The Debate!: MagNote
Our laboratories of democracy are moving toward one-party rule: Hot Air
Socialist Healthcare Is Now Obamacare Reality: Sentinel
Whither the Republicans: AT
Professor Praises Stalin: Never Committed One Crime: RWN
GOP Doomed if Establishment Prevails: AT
Carville: 80 percent of Democrats are politically clueless: Clash
Esrtwhile Harry Reid Allies Slam His Behavior During Campaign: WZ
Economy
Obamacare Meets Reality. Reality Wins.: RSSenator Chambliss to vote for tax increases: AT
From Currency Debasement To Social Collapse: 4 Case Studies: ZH
Why Is The Latino Poverty Rate So High?: Foundry
Why do progressives hate the poor?: LI
10 Most American-Made Cars Of 2012: Street
Scandal Central
World Leaders face the riddle of no warming: GWPFObama Admin Uses 'Green Energy' Loans to 'Recycle' Money Back to Donors: Breitbart
Four Islamists on Gov. Christie’s Muslim Outreach Committee: ParamusPost
Climate & Energy
NY Times Visualizes Statue Of Liberty Covered By The Seas From Hotcoldwetdry: CoveEPA report arrogant, ambiguous: Foster's Daily Democrat
French Eco-Kooks Squat in Trees to Prevent Airport Construction: Blaze
Media
MSNBC President: Our 24-7 Obama Cheerleading Doesn't Mean We're Pro-Obama: AIMBreaking the Monopoly of the Mainstream (Conservative) Media: Spengler
Mediaite Thankful Barack Obama is President During Latest Gaza Violence: Blaze
The Media's Benghazi Scandal: Wehner
Boston Globe already has Elizabeth Warren buyer’s remorse: LI
Government Twinkies: It's Big Fur Hat
World
Fresh shipment of Iranian-made rockets reportedly already en route to Gaza: Times of IsraelRussia Sends Warships To Gaza Coast: ZH
AP Interview: Hamas No. 2 rejects Gaza arms halt: SFGate
The Israel-Hamas clash of civilizations: Hayom
Meanwhile, in Hell, amidst the flames, a delighted Goebbels breaks into song: Babalu
Clashes continue into the night in Egypt: JPost
Hezbollah threatens to hit central Israel in future war: Times of Israel
That Other War: ForPol
Foster parents 'stigmatised and slandered' for being members of Ukip: Telegraph
Sci-Tech (courtesy BadBlue.com/Tech)
How The World (Almost) Ended: MeadMaking a Better Cup at Home: WSJ
Survival of the Fattest: ZH
Cornucopia
The E-Mail of Doom: MeadAnd Now, A Guy Raps “Look At Me Now” In Family Guy Voices: Waznmentobe
Ricky Hatton retires after Vyacheslav Senchenko defeat: BBC
Image: Pirate's Cove
Today's Larwyn's Linx sponsored by: Maggie's Farm
QOTD: "Peter Schweizer, president of the Government Accountability Institute, said President Barack Obama had a "recycling" program that used crony capitalism to reward its campaign contributors, who would then funnel money back to the Obama campaign.
Appearing on Fox News's one-hour special on Thursday about the "District of Corruption" movie, Schweizer said crony capitalism was so rampant in the Obama administration that Obama campaign bundlers received more than $21,000 on average in government-backed loans and grants for every dollar they contributed to the Obama campaign...
..."Crony capitalism is welfare for the well-off,” Schweizer said, noting that he was "skeptical of human nature" and that is why government had no business being involved in these rackets." --Tony Lee
Saturday, November 24, 2012
EARLY RETURNS ON WINDOWS 8: Vista Redux?
As a writer at Beta News, Wayne Williams switched to Windows 8 as his full-time user interface. The overall results are represented in the headline: "Windows 8: Weak on tablets, terrible for PCs."
What I don't understand is how Microsoft thought it could combine phone, tablet and desktop operating systems into a single cohesive whole. Apple's Macs use OS/X and its phones and tablets employ IOS. Google uses the Chrome OS for its thin-client laptop experience and the Android operating system for phones and tablets.
To try and combine both would appear to require an unprecedented usability breakthrough.
Worse still, there are reports Microsoft is censoring criticism of Windows 8.
A just-released survey indicates just two of five current Windows users plan on upgrading to the latest version of Microsoft's operating system. While these are the early days, it would appear Microsoft has some heavy public relations lifting to do.
Update: Windows 8 Consumer Preview Official Demo Parody.
... the heading of this article -- "weak on tablets, terrible for PCs" -- isn’t actually mine. It’s from a new study on the UseIt website that asked 12 experienced PC users to take a look at Microsoft’s OS (on PCs and Surface RT) and condensed their findings into a scathing report that’s full of damning, but entertaining declarations, such as: "Windows 8 on mobile devices and tablets is akin to Dr. Jekyll: a tortured soul hoping for redemption. On a regular PC, Windows 8 is Mr. Hyde: a monster that terrorizes poor office workers and strangles their productivity".
The report does have some valid observations though: "One of the worst aspects of Windows 8 for power users is that the product's very name has become a misnomer. 'Windows' no longer supports multiple windows on the screen. Win8 does have an option to temporarily show a second area in a small part of the screen, but none of our test users were able to make this work. Also, the main UI restricts users to a single window, so the product ought to be renamed 'Microsoft Window.'"
The report complains that Windows 8’s style makes it difficult to know what can and can’t be clicked. Buttons don’t look like buttons; links look like headings. Live content makes it impossible a lot of the time to know what various tiles are supposed to represent...
...Like any piece of software, once you know how to use it, Windows 8 is actually pretty easy to navigate around, but you’ve got to invest time in it. The mark of a good user interface, for me, is how obvious and intuitive it is. If you have to wave your mouse around the screen, clicking more in hope than expectation, someone, somewhere has done a bad job.
With a great interface design, you move around the screens and menus instinctively, without thinking about what you’re doing. If you have to pause and wonder how the hell to do something fundamental -- like shut down an operating system -- the UX designer has failed you very badly indeed.
What I don't understand is how Microsoft thought it could combine phone, tablet and desktop operating systems into a single cohesive whole. Apple's Macs use OS/X and its phones and tablets employ IOS. Google uses the Chrome OS for its thin-client laptop experience and the Android operating system for phones and tablets.
To try and combine both would appear to require an unprecedented usability breakthrough.
Worse still, there are reports Microsoft is censoring criticism of Windows 8.
A message board thread where developers unanimously criticized the Windows 8 tile interface has been delisted from Google, thanks to a Digital Millenium Copyright Act (DMCA) takedown order issued by none other than Microsoft itself.
The board is dedicated to ConeXware's Power Archiver compression toolkit, and the thread in question began on August first, when Windows 8 was released to manufacturing. The post announcing the RTM was then followed by a handful of comments from different users and developers who panned the Windows 8 interface...
"Words cannot describe just how much I hate that Metro Interface. Yuck!"
... "The problem here is that Metro isn't designed to be used with a keyboard and a mouse. I don't understand how MS could come up with this idea of mixing two totally different GUIs with each other."
... "I hate Metro and cannot use it...The kicker is that MSoft is removing the desktop option AND making sure that those hacks that bring it back do not work."
Then, on August 17, Microsoft filed a complaint with Google that this message thread contained copyright infringing materials.
A just-released survey indicates just two of five current Windows users plan on upgrading to the latest version of Microsoft's operating system. While these are the early days, it would appear Microsoft has some heavy public relations lifting to do.
Update: Windows 8 Consumer Preview Official Demo Parody.
THE COMPLETE COMIC BOOK: This Godless Communism
"Treasure Chest was a monthly comic book published by the Catholic Guild from 1946 to 1972. Each issue featured several different stories intended to inspire citizenship, morality, and patriotism. In the 1961, volume 17 number 2 issue, the story "This Godless Communism" began. It continued in the even numbered issues through number 20. The entire story is presented here."
To read the complete history of Communism (well worth your time, by the way), click the right side of each image to flip through the comic book.
And then perhaps some of the drones can explain to me how purveyors of this vile ideology of slavery and mass-murder became accepted members of the Democrat Party (see: Van Jones, Anita Dunn, Carol Browner, etc.).
To read the complete history of Communism (well worth your time, by the way), click the right side of each image to flip through the comic book.
And then perhaps some of the drones can explain to me how purveyors of this vile ideology of slavery and mass-murder became accepted members of the Democrat Party (see: Van Jones, Anita Dunn, Carol Browner, etc.).
"THE SCARIEST PRESENTATION EVER": The Economic Endgame Hits Within 12 Months
Tyler Durden introduces what he calls "The Scariest Presentation Ever" with a single paragraph:
I'm no economist, but you don't have to be an expert at much of anything to recognize that unchecked borrowing is unsustainable. This principle applies equally to individuals, corporations and governments. And the debts thus far incurred by corrupt officials around the world have passed the tipping point: they will never be repaid.
What happens when sovereign defaults occur? History teaches us that economic crises usually result in war and despotism. It will be up to Americans -- all of us -- to preserve the civil society and re-institute a Constitutional Republic.
If Raoul Pal was some doomsday spouting windbag, writing in all caps, arbitrarily pasting together disparate charts to create 200 page slideshows, it would be easy to ignore him. He isn't. The founder of Global Macro Investor "previously co-managed the GLG Global Macro Fund in London for GLG Partners, one of the largest hedge fund groups in the world. Raoul came to GLG from Goldman Sachs where he co-managed the hedge fund sales business in Equities and Equity Derivatives in Europe... Raoul Pal retired from managing client money in 2004 at the age of 36 and now lives on the Valencian coast of Spain, from where he writes." It is his writing we are concerned about, and specifically his latest presentation, which is, for lack of a better word, the most disturbing and scary forecast of the future of the world we have ever seen... And we see a lot of those.
###
The world has no engine of growth with most of the G-20 countries approaching stall speed at the same time. Now, what is that? G-20, that’s the 20 biggest countries in the world. Approaching stall speed. We have no engine of growth. Ask yourself this question: What is the engine of growth in the United States? Currently it is being set up that the engine of growth is the stimulus package, is the United States government. Is that real growth? I contend - and you know the answer - no.
The western world is about to enter a second recession in an ongoing depression. For the first time since the 1930′s, we’re entering a recession. Before industrial production, durable goods orders, employment, and private sector GDP have made back their previous highs. Hear that again. For the first time since the 1930′s before we’ve made if back up on our feet. Usually we have a recession, it starts to grow again, and then we come back down. This is – this is a new trend.
Fact: This will to be the lowest cyclical peak in GDP growth in G-7 history. These are the weakest ever foundations on which to enter a recession.
The problem is down to one thing: Debt.
This is significant. The 10 largest debtor nations on earth have total debts of over 300% of world GDP. History tells us that when sovereign defaults occur, what does that mean? Sovereign defaults? Sovereign default, if a sovereign default occurs, that means Greece goes out of business, Spain goes out of business, Portugal goes out of business. The Euro is a bubble. It will crash."
History tells us when sovereign defaults occur, they come in a series of defaults. We need to understand history in order to grasp the present. The domino effect. In history when you have a default, one falls into the other and the other and the other...
...What is coming? EU sovereign debt defaults. UK sovereign default. Japan sovereign default. South Korea, sovereign default. China, sovereign default.
We are here. We don’t know exactly what is to come, but we can all join the very few dots from where we are now to the collapse of the first major bank, with very limited room for government bailouts... We can easily join the next dots from the first bank closure to the collapse of the whole European banking system and then to bankruptcy of the governments themselves. There are almost no breaks in the system to stop this and almost no one realizes the seriousness of this situation.
The problem is not government debt, per se... The real problem is The 70 trillion in G-10 debt, the top 10 governments around the world, The 70 trillion is the collateral for $700 trillion in derivatives. That number equates to 1200% of global GDP and rests on very, very weak foundations.
Imagine the UK defaulting. What do you think would happen to Japan and China? Would they not be next? And do you think that the U.S. would survive unscathed? This is the end of the fractional reserve banking system and of fiat money. It is the big reset. This is what we’ve been talking about for quite some time. The big reset. This is what George Soros has wanted, the big reset.
When the system has to be rebooted, who are the players that are designing that? This is why when people say to you, George Soros, why would anybody want this to happen? Because if you know the reset is coming, anyway, if you know it’s unsustainable, then you want to be the one to design what the future looks like.
From a timing perspective, I think 2012 and 2013 will usher in the end. You have to understand that the global banking collapse and massive defaults would bring about the biggest economic shock the world has ever seen. There would be no trade finance, no shipping finance, no finance for farmers, no leasing, no bond market, no nothing. The markets are, frankly, at a terrifying point of realizing that there is nothing they can do including quantitative easing to prevent this collapse.
The next phase, as Spain and Italy go, will be to see nationalization of banks – the nationalization of banks and the assumption of bank debts on government balance sheets...
We have Tim Geithner coming out and saying, The governments have to take this debt on. Then expect to be shut out of financial markets. Bonds will be stuck at 1% in the U.S., Germany, and UK, and Japan for this phase.
The whole bond market will be dead.
That means nobody wants to invest in companies. Short selling on bonds will be banned. Short selling stocks will be banned. CBS, banned. Short futures, banned. Put options, banned. All that will be left will be the dollar and gold. As defaults in governments and banks come to fruition, we risk a closure of the stock market entirely and a closure of the banking system as occurred in Argentina in 2001, Russia in 1998, and Brazil in 1999.
We have around six months of trading in western markets to protect ourselves or make enough money to offset future losses. Spend your time looking at the risks of custody safekeeping, counterparty, et cetera. Assume that no one and nothing is safe. After that put your tin helmet on and hide until the new system emerges. I wish I could see another option with an equally high probability, but I can’t find one. All we can do is hope that I’m wrong, but either way, a new system will emerge and it will open up a whole new set of opportunities, but we are going back 40 years in time and 1500 to 3000 years in trading.
I'm no economist, but you don't have to be an expert at much of anything to recognize that unchecked borrowing is unsustainable. This principle applies equally to individuals, corporations and governments. And the debts thus far incurred by corrupt officials around the world have passed the tipping point: they will never be repaid.
What happens when sovereign defaults occur? History teaches us that economic crises usually result in war and despotism. It will be up to Americans -- all of us -- to preserve the civil society and re-institute a Constitutional Republic.
Larwyn's Linx: The Living Hell of Socialism -- in Pictures
Send us tips! Bloggers: install a Larwyn's Linx widget. Get real-time news, 24/7, at BadBlue.
Communist Party USA Leader Lauds Obama Victory: Loudon
ObamaMath: $500B in tax hikes for $50B in spending cuts: ProWis
Consultants Advise: Bring Sporks to New Gunfight with the Left: Marcus
Obama Thanksgiving speech: unite behind WH, God not mentioned: DC
A Lesson in Irony – Take the Food Stamp program: Sentinel
Latest U-Haul Index Shows Californians Leaving for Texas: NewAm
Gold Surges 1%, Eyes $1,750: FoxBiz
Sorry Unions: Wal-Mart Reports Record Black Friday Sales: Powers
Failure Of Walmart Walkout Underscores Union Decline: IBD
Food stamp recipients outnumber 24 states combined: Breitbart
But What of Debt?: DTG
Liberals: Time To Put Your Money Where Your Mouth Is: CDN
The Cost of Dropping Out: WSJ
Barack Obama ‘thinking’ of backing off of no-corporate-money for Inauguration.: RS
Dean Chambers of UnskewedPolls.com Creates ‘Obama Voter Fraud’ Map: Blaze
Legalize Crude Oil Exports: Foundry
Climate Ugliness Goes Nuclear: Watts
Al Sharpton: Republicans cutting govt jobs the reason Black and Latino unemployment so high: Scoop
No, Mr. Obama: I don't have a responsibility to take care of the less fortunate: AWD
Idiocy of the Left on Full Display, Reuters Edition: SDA
‘The Hiring Hypocrisy at the New York Times’: Driscoll
Obama Hits The Links For The 106th Time In Less Than 4 Years: WZ
ACLJ: Stop Sending U.S. Taxpayer Dollars to Egypt & Libya: RWN
The Decline and Fall of the Boardwalk Empire: Driscoll
Photos: TV icon Larry Hagman through the years: AP
Belgium on its way to becoming an Islamic state: Breitbart
Violent protests erupt in Egypt after president grants himself new powers: Haaretz
Surprise! Obama’s Pal Morsi Appoints Himself Dictator of Egypt: JWF
Violence breaks out across Egypt as protesters decry Mohammed Morsi’s constitutional ‘coup’: RedAlert
Florida: Muslims bringing weapons and ammunition to mosque: Creeping
Ahmadinejad calls to congratulate Hamas leader on ‘victory’: Times of Israel
Iran accuses US Navy of 'illegal' acts in Gulf: AP
Arafat to be exhumed next week in poison probe: JPost
The Top Five Diets That Won't Help You Lose Weight: MedicalDaily
100,000 Star Experiment: Google Chrome Experiments
Caution: Bird Brains May Find The Story of Thanksgiving Offensive: MOTUS
Japan's ninjas heading for extinction: BBC
Image: This Godless Communism
Today's Larwyn's Linx sponsored by: Curmudgeonly & Skeptical
Nation
The Living Hell of Socialism -- in Pictures: ReaganiteCommunist Party USA Leader Lauds Obama Victory: Loudon
ObamaMath: $500B in tax hikes for $50B in spending cuts: ProWis
Consultants Advise: Bring Sporks to New Gunfight with the Left: Marcus
Obama Thanksgiving speech: unite behind WH, God not mentioned: DC
A Lesson in Irony – Take the Food Stamp program: Sentinel
Economy
Obamacare will make us a part time nation: MoranLatest U-Haul Index Shows Californians Leaving for Texas: NewAm
Gold Surges 1%, Eyes $1,750: FoxBiz
Sorry Unions: Wal-Mart Reports Record Black Friday Sales: Powers
Failure Of Walmart Walkout Underscores Union Decline: IBD
Food stamp recipients outnumber 24 states combined: Breitbart
But What of Debt?: DTG
Liberals: Time To Put Your Money Where Your Mouth Is: CDN
The Cost of Dropping Out: WSJ
Scandal Central
Surprise! NY Times Pushes Obama On Gun Control: RWNBarack Obama ‘thinking’ of backing off of no-corporate-money for Inauguration.: RS
Dean Chambers of UnskewedPolls.com Creates ‘Obama Voter Fraud’ Map: Blaze
Climate & Energy
Brokeifornia’s First Cap And Trade Auction Complete Failure: CoveLegalize Crude Oil Exports: Foundry
Climate Ugliness Goes Nuclear: Watts
Media
Arab Winter: AP Minimizes Visibility of Morsi's Dictatorial Power Grab in Egypt: NBAl Sharpton: Republicans cutting govt jobs the reason Black and Latino unemployment so high: Scoop
No, Mr. Obama: I don't have a responsibility to take care of the less fortunate: AWD
Idiocy of the Left on Full Display, Reuters Edition: SDA
‘The Hiring Hypocrisy at the New York Times’: Driscoll
Obama Hits The Links For The 106th Time In Less Than 4 Years: WZ
ACLJ: Stop Sending U.S. Taxpayer Dollars to Egypt & Libya: RWN
The Decline and Fall of the Boardwalk Empire: Driscoll
Photos: TV icon Larry Hagman through the years: AP
World
Egypt: Say hello to Your little Dictator: DTGBelgium on its way to becoming an Islamic state: Breitbart
Violent protests erupt in Egypt after president grants himself new powers: Haaretz
Surprise! Obama’s Pal Morsi Appoints Himself Dictator of Egypt: JWF
Violence breaks out across Egypt as protesters decry Mohammed Morsi’s constitutional ‘coup’: RedAlert
Florida: Muslims bringing weapons and ammunition to mosque: Creeping
Ahmadinejad calls to congratulate Hamas leader on ‘victory’: Times of Israel
Iran accuses US Navy of 'illegal' acts in Gulf: AP
Arafat to be exhumed next week in poison probe: JPost
Sci-Tech (courtesy BadBlue.com/Tech)
Caffeine is a psychoactive drug -- despite how energy drinks are marketed: NYDNThe Top Five Diets That Won't Help You Lose Weight: MedicalDaily
100,000 Star Experiment: Google Chrome Experiments
Cornucopia
Rule 5 News Special Report: The Mammary Murder Plot: Camp o' the Saints (Rated R)Caution: Bird Brains May Find The Story of Thanksgiving Offensive: MOTUS
Japan's ninjas heading for extinction: BBC
Image: This Godless Communism
Today's Larwyn's Linx sponsored by: Curmudgeonly & Skeptical
QOTD: "How many Europeans understand how large host-country banking systems are in relation to government tax revenues? How many Japanese have questioned how (if ever), a quadrillion yen of debt will ever be repaid when it represents over 20X central government revenues? (Answer: it can't be). Very few participants are aware of the enormity and severity of the problems the developed world faces. ... The only path left is a full restructuring (default) of most sovereign debts of developed nations...
...How many of your extended family would you assume all past and future debts with jointly and severally? ... As much as I love my extended family, I would never agree to be jointly and severally liable with any of them...
...Sadly, looking back through economic history, all too often war is the manifestation of simple economic entropy played to its logical conclusion. We believe that war is an inevitable consequence of the current global economic situation..." --Kyle Bass
Friday, November 23, 2012
GOOD NEWS: Planned Parenthood Running Black Friday Special
And, no: unfortunately, this isn't some kind of sick satire.
There are times when no snark needs to be added, and this is one of those times.
You may think I’m setting you up for a spoof, but no.
Planned Parenthood brings new meaning to the term, “Black Friday,” doesn’t it?
There are times when no snark needs to be added, and this is one of those times.
ANOTHER REASON TO USE THE CHROME BROWSER: The 100,000 Star Experiment
Seriously, this is way cool.
As Adam Koblim reminds us on the Google Chrome blog, the "mist of 100,000 measurable stars is a tiny fraction of the sextillions of stars in the broader universe."
Dude. Just check it out.
P.S.: If you don't use the Chrome browser, I'd highly recommend it. It's Google's free, high performance browser that can be downloaded in a jiffy.
Ready for a mind-blowing trip? Google‘s got you covered with its “100,000 Stars” Chrome experiment, visualizing our stellar neighborhood in a way you’ve never seen.
Using either your mouse or a trackpad, “100,000 Stars” lets you fly around in a sophisticated 3D graphic of our galaxy, taking a close look at the stars that are relatively close to Earth. Try zooming way out, where you can peer at the edge of the Milky Way, and see if it makes you feel like we did, finding ourselves wishing we could zoom out even farther.
Or you can click the “take a tour” button on the upper left to be swept away to the most interesting stars in our galaxy, or click on a star to get more info. And don’t miss the variety of views you can get, showing you the actual density of the stars in our galaxy. It’s spectacular.
Beyond its value as a fascinating toy, “100,000 Stars” is a demo of current web technology. It shows you 3D graphics and plays music by Mass Effect composer Sam Hulick. It accomplishes this magic using an alphabet soup of cool browser tech, including WebGL, CSS3D and Web Audio. And, you don’t need to be using the Chrome browser either. We noticed it works just as well in Firefox...
As Adam Koblim reminds us on the Google Chrome blog, the "mist of 100,000 measurable stars is a tiny fraction of the sextillions of stars in the broader universe."
Dude. Just check it out.
P.S.: If you don't use the Chrome browser, I'd highly recommend it. It's Google's free, high performance browser that can be downloaded in a jiffy.
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