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Thursday, December 06, 2012

Bottom line: The federal government went to court in the hopes of restricting property rights and came up short.



Damon W. Root|Dec. 4, 2012 12:08 pm
The federal government suffered a major defeat today at the U.S. Supreme Court in the case of Arkansas Game & Fish Commission v. United States. In their unanimous decision, the justices rejected the government’s sweeping claim that a series of recurring floods induced by the U.S. Army Corps of Engineers did not qualify as a taking of property under the Fifth Amendment because the flooding was only temporary in duration. As Justice Ruth Bader Ginsburg wrote for the Court:
Because government-induced flooding can constitute a taking of property, and because a taking need not be permanent to be compensable, our precedent indicates that government-induced flooding of limited duration may be compensable. No decision of this Court authorizes a blanket temporary-flooding exception to our Takings Clause jurisprudence, and we decline to create such an exception in this case.
The Court also rejected the government’s assertion that the Army Corps of Engineers needed to be free from the constraints of the Takings Clause in order to effectively do its job:
Time and again in Takings Clause cases, the Court has heard the prophecy that recognizing a just compensation claim would unduly impede the government’s ability to act in the public interest. We have rejected this argument when deployed to urge blanket exemptions from the Fifth Amendment’s instruction.
As for the surprising claim made during oral argument by Deputy Solicitor General Edwin Kneedler, who told the justices that no property owner whose land lay below a government dam could ever bring suit under the Takings Clause in response to a government-induced flood, the Court observed that because this novel argument “was not aired in the courts below, and [was] barely hinted at in the brief the Government filed in this Court...we express no opinion on the proposed upstream/downstream distinction.”
I’m a little surprised the Supreme Court didn’t reject Kneedler’s bogus upstream/downstream distinction outright, given that most of the justices seemed so dismayed by it during oral argument (Justice Anthony Kennedy likened Kneedler’s position to the “old moral refuge” of German rocket scientists who said “I make the rockets go up; where they come down is not my concern”), but perhaps the justices opted for a unanimous ruling against the government rather than a divided opinion where the majority delivered an even more forceful denunciation.
Bottom line: The federal government went to court in the hopes of restricting property rights and came up short.


301 comments:

  1. This is a fascinating discussion on the struggle between the majority poor taking the property of the wealthy. Please listen to the video before commenting on the court case.

    ReplyDelete
  2. You can eliminate poverty or eliminate democracy.

    ReplyDelete
    Replies
    1. For ye have the poor with you always, and whensoever ye will ye may do them good: but me ye have not always.

      MARK 14:7

      For ye have the poor always with you; but me ye have not always.

      MATTHEW 26:11


      Cuba, etc and etc and etc

      Delete
  3. We are at the tipping point where the majority can vote itself the wealth of the minority.

    ReplyDelete
    Replies
    1. Not if the wealthy can control the choices the poor have to choose from.

      Delete
  4. Democracy can eliminate prosperity by eliminating property, but can't eliminate poverty. And in the end you'll have poverty and no democracy and a nomenkatura.

    The nomenklatura (Russian: номенклату́ра, Russian pronunciation: [nəmʲɪnklɐˈturə]) were a category of people within the Soviet Union and other Eastern Bloc countries who held various key administrative positions in all spheres of those countries' activity: government, industry, agriculture, education, etc., whose positions were granted only with approval by the communist party of each country or region.

    Virtually all were members of the Communist Party.[1] Some authors who opposed the Soviet regime, such as Milovan Đilas, critically defined them as a new class.[2] Trotskyism uses the term caste rather than class, because they saw the Soviet Union as a degenerated workers' state, not a new class society. Later developments of Trotsky's theories, notably Tony Cliff's theory of State Capitalism, did refer to the nomenklatura as a new class.



    Long live the middle class.

    Good court decision.

    ReplyDelete
  5. OT

    Of course they blame the West for their becoming "Islamists." Yet despite their recent conversion, they seem well-versed in the Islamic supremacist agenda of reconquering lands that were once ruled by Muslims and that they thus think belong to Islam forever: "And slay them wherever ye find them, and drive them out of the places whence they drove you out" (Qur'an 2:191).

    "Syrian Rebel Founding 'Robin Hood Brigade' Vows to Conquer Israel, Iran, and Europe," from MEMRI, October 21 (thanks to Mackie):

    Following are excerpts from a clip featuring rebel fighters in Aleppo, Syria, which was posted on the Internet on October 21, 2012:

    Syrian mujahid: We will move on. When, Allah willing, we cleanse Syria, we won’t stop there. We will continue to the Shebaa Farms and Kafr Shuba, and we will pass through the Golan Heights all the way to Jerusalem. And then…

    Other Syrian mujahid: All the way to Persia.

    Syrian mujahid: Then we will make an about-turn, cleanse Iraq, where there is still some filth. After we are done with Iraq, we will move on to Constantinople, and then Cordoba and Andalusia. That’s it. Now that we have weapons, we don’t intend to ever lay them down.

    The West, Bashar, and America should be happy. This is what you get for supporting the Bashar regime. We told you that we wanted freedom. If you had removed him, you’d never have heard from us again. You have brought this upon yourselves. We have become Islamists. We have become terrorists. You forced this situation upon us. You could have called him up and said: “Bashar, get out.” He would have left. But instead, you supported and financed him. Why? Because he serves as [Israel’s] border guard. Not a bullet has been fired there in the past 48 years....


    video

    http://www.jihadwatch.org/2012/12/syrian-rebels-vow-to-conquer-israel-iran-and-spain.html


    Sorry, couldn't help it.

    ReplyDelete
  6. "fuel for his own funeral pyre.... Gotterdamerung is his goal"

    Read more: http://www.americanthinker.com/blog/2012/12/inching_toward_the_precipice_syria_readies_chem_weapons.html#ixzz2EHRTJXtj



    2. If Assad is crazy enough to use WMD on his own people, Turkey may figure he's crazy enough to launch against them. The urgency to supply Turkey with Patriot missiles has never been greater, even with the objections by Russia. An attack by Assad on Turkey would trigger an automatic NATO response, placing the western alliance in direct conflict with Putin and the Russians.

    3. What form would intervention by the US and NATO take? If the goal would be to unseat Assad, ground troops would almost certainly be necessary. Would Syria's master Russia stand by and allow NATO troops in Syria?


    Read more: http://www.americanthinker.com/blog/2012/12/inching_toward_the_precipice_syria_readies_chem_weapons.html#ixzz2EHR64Y39


    The affair is getting serious. Thank God we have Barky at the helm, as we have been assured foreign policy is a strong point of his.

    ReplyDelete
    Replies
    1. If....
      ... may ...

      More of the same bubblhead bulshit.

      Delete
    2. What is it crapper? No presents under your tree this season?

      Delete
    3. no boobie, he actually looks at the dribble you post and that will screw up anyone if they actually take it seriously.

      Delete
  7. Corporate Profits hit an all-time high in the 3rd quarter, as did the after-tax income of the upper percentiles.

    It appears to me that prosperity (of the wealthy,) is faring pretty well under Deemocracee.

    ReplyDelete
    Replies
    1. Successful and energetic people always find a way to stay that way. Lazy lard asses always seem to find away to stay lazy lard asses.

      Delete
  8. Fox News Producers must now get permission from Management before extending invites to Karl Rove, and Dick Morris.

    Even Roger Ailles seems to be tired of "Bubbleplumb" thinking.

    ReplyDelete
    Replies
    1. Maybe that should be "plumbdumb" thinking.

      Delete
  9. I am unaware of the details in the Court case but my first reaction is: Did those properties periodically flood before the dam was built? How were there properties used before the damn? How was the dam's controlling authority involved in the regulation of downstream development? What transpired before and after the construction of the damn.What series of actions i.e. Government permits, government promises, etc.

    ReplyDelete
    Replies
    1. Very good questions. My thinking was, also, along those lines. I wonder if those questions came up in court.

      Delete
  10. Ooops! Did not mean to curse.

    ReplyDelete
  11. I don't cuss, smoke or drink.

    Damnit, I left my cigarettes at the bar!

    ReplyDelete
  12. As far as property rights and the tyranny of the majority, these are perilous times and we need to be very careful. The leftist, socialist, progressive mindset types are looking for openings to exploit.

    We see it everyday. Calls for higher taxes on the rich, increased union activities, class division, vilification of business, attacks on the church.

    ReplyDelete
  13. Joan Rivers Slaps Kathy Griffin IN THE FACE

    Classic

    ..think I heard the outrageous, disgusting, banned at The Bar "C..." word somewhere in there.

    ReplyDelete
  14. Fuck the one percent!
    Down with Rich!
    Share the Wealth!

    - Joe, (the reformed) Plumber.

    ReplyDelete
  15. Joan closes
    ...now I gotta see the whole thing.


    ..."I'm gonna go to Malibu tonight and give Mel Gibson a blow job."

    ReplyDelete
  16. Apartment raided. Muhammed arrested. Feds. Taken to Tri-Cities. No reason given. More.....developing

    ReplyDelete
    Replies
    1. We think Muhammed may have been Libyan....

      Delete
  17. Rufus, the Dufus:
    That 250 K rich guy line is GROSS INCOME.

    ...any nail salon that doesn't GROSS that goes outta business.

    But Dufus's Dreamcake wants them properly punished.

    Pa fuckin Thetic.

    ReplyDelete
    Replies
    1. pa fuckin thetic if the US tax system treats GROSS INCOME as if it were PROFIT. Of course it doesn't, right!?

      Delete
    2. That's what I thot, still cannot quite believe it, let the EB "Brain" trust research it, OK.

      Capitalist Pig .com was my source, I think.

      Delete
  18. Rufus has never met a tax hike on someone else that he didn't like, Doug.

    ReplyDelete
  19. Payroll, utities, rent, insurance, etc:
    The Evil Rich,
    Deserving of Punishment.
    in DUFUSWORLD

    ReplyDelete
    Replies
    1. all taxed as if it were income Pug's world!

      Delete
  20. Replies
    1. Your Rate applies to "Taxable Income."

      Delete
    2. Your subchapter S profit is "passed through" to the individual, who then takes his/her individual deductions, and arrives at his/her taxable income (the exception, here, is in dealing with SS/FICA Taxes (not relevant in the present discussion.)

      Delete
  21. On to a Brighter Note:

    For decades, the United States has been the land of the gas guzzler. But that’s changed significantly over the past five years.

    New vehicles purchased in November of 2012 got 24.1 miles per gallon, on average. That includes all new cars, SUVs, and light trucks. By contrast, new vehicles averaged just 20.1 miles per gallon average back in the fall of 2007.

    Those numbers come from Michael Sivak of the University of Michigan, who also passes along this chart showing that newly purchased cars and light trucks in the United States are polluting far less than they did five years ago:

    Graph of the Day

    ReplyDelete
  22. Once you add in (or subtract) the 10% Ethanol content change since 2007 you realize that we're using about 3.5 Million Barrels/day less Gasoline than in 2007.

    Even if we were driving the same miles we would still be using about 3 Million fewer barrels/day.

    ReplyDelete
    Replies
    1. Fracking came along at a good time. It has helped us weather the initial storm; but, it won't save us over the longer term. For instance, The Bakken will probably Peak sometime early in 2013. The Eagle Ford, probably, a year or so later.

      Delete
    2. Rufus, you keep stating the obvious. Every well has a bottom to it. Everyone knows the moment you start retrieving oil or gas from a spot the volume available diminishes. It's the reason for exploration.

      Unlike our paper fiat currency!

      Delete
  23. Noam Chomsky: "The Emerging World Order: its roots, our legacy"

    For those who are interested which I don't think will be anyone here: just over an hour of his tortured speaking style. The first 30 to 40 minutes is an historical review of USA from WWII to present. The last 20 minutes (forgot the exact turning point) is the future. I agree completely with the last 20 minutes.

    Chomsky was a brilliant linguist, so I am informed. Hitchens said in 2007 that Chomsky's political positions suggested a "lost perspective" and I agree with that as well.

    For those of you who dismiss DR's tales of The Russell Company and their grand schemes, Chomsky backs up the story. FDR's planners knew USA would emerge from WWII as not only the last guy standing but the strongest, which is sometimes implied, sometimes not. The planners envisioned a "Grand Area" with USA as hegemon.

    The current theme occupying academics is the Decline of America, which Chomsky says is real and dates back to FDR's vision, which included "failure by design" as the end-game. The corollary to USA decline is the rise of China and India, or sometimes expanded to include the BRIC countries. Chomsky thinks not - they're too poor.

    So what will replace the USA hegemon? Chomsky predicts that the world will divide, not by sovereign boundaries, but by wealth, into what Citigroup calls "the plutonomy" and the rest who are sometimes called the global "precariot" or those who lead a precarious existence.

    Chomsky ends by citing two economists: Robert Solow of MIT who published a study concluding that the impact of financial institutions is negative because they act as wealth transfer mechanisms from the taxpayer to the "plutocracy"; and Martin Wolf of The Financial Times who, more colorfully describes financial institutions as eating the economy from the inside out, like a larvae eating its host.

    Chomsky ends by saying the process will continue as long as victims continue to suffer in silence.

    Which of course sounds very familiar. Read it on the Red State sites all the time. Sheeple is the popular word. Nobody can quite agree on who the bad guys are.

    ..............

    I listened to the video above where Chomsky presents the dialectic that man can either eliminate poverty (Aristotle) or eliminate democracy (Madison). Intellectuals seem to love their either/or dialectics. What they always forget, or ignore, or otherwise dismiss (my theory is because it's "untidy" and inconvenient) is that the dishes have to be washed, the yard has to be mowed, and the snow shoveled. USA had achieved a near miraculous institutional balance of power that allowed "access" and social mobility ("new money".) It wasn't perfect but it was slowly working.

    Until Wall St made a final death rattle for plutocracy. And here we are.

    ........................................................................

    Not for everyone.

    (Maybe not for anyone. Comments as a modern marvel of entertainment.)

    ReplyDelete

  24. NYT: Obama admin approved secret weapons deals that ended up arming Islamists in Libya
    by Ed Morrissey

    Oopsie! In what has to be one of the least-shocking outcomes of Barack Obama’s Libyan adventure, the New York Times reports that his administration secretly gave approval of weapons shipments to Libyan resistance fighters, only to learn that the weapons ended up arming Islamist terror networks. Who could have seen that coming, right?

    The Obama administration secretly gave its blessing to arms shipments to Libyan rebels from Qatar last year, but American officials later grew alarmed as evidence grew that Qatar was turning some of the weapons over to Islamic militants, according to United States officials and foreign diplomats.

    No evidence has emerged linking the weapons provided by the Qataris during the uprising against Col. Muammar el-Qaddafi to the attack that killed four Americans at the United States diplomatic compound in Benghazi, Libya, in September.

    But in the months before, the Obama administration clearly was worried about the consequences of its hidden hand in helping arm Libyan militants, concerns that have not previously been reported. The weapons and money from Qatar strengthened militant groups in Libya, allowing them to become a destabilizing force since the fall of the Qaddafi government.

    Maybe we can offer an alternative headline for this: Reporting that might have been valuable before the election. Tammy Bruce tweeted:

    This is yet another indictment of the Obama approach to decapitating regimes. In the immediate aftermath of the fall of Qaddafi, the administration didn’t hesitate to favorably compare the outcome in Libya to that in Iraq, where hundreds of thousands of American troops were used to secure the gains after the fall of Saddam Hussein. The NYT provides a post-mortem on that strategy courtesy of a former State Department adviser on the region:

    The Qatari assistance to fighters viewed as hostile by the United States demonstrates the Obama administration’s continuing struggles in dealing with the Arab Spring uprisings, as it tries to support popular protest movements while avoiding American military entanglements. Relying on surrogates allows the United States to keep its fingerprints off operations, but also means they may play out in ways that conflict with American interests.

    “To do this right, you have to have on-the-ground intelligence and you have to have experience,” said Vali Nasr, a former State Department adviser who is now dean of the Paul H. Nitze School of Advanced International Studies, part of Johns Hopkins University. “If you rely on a country that doesn’t have those things, you are really flying blind. When you have an intermediary, you are going to lose control.”

    And when you don’t have any way to control what happens on the ground, you can bet that “control” will be the first thing to go. The US knew that Islamist terrorists operated in eastern Libya for years before Obama came into office. Al-Qaeda recruited heavily in the region for its fight against the US in Iraq. Decapitating Qaddafi meant losing pressure on AQ and other Islamist terror networks, and flooding the area with uncontrolled weapons almost guaranteed that the already-organized terror networks would hijack them from other less-organized resistance movements.

    But this brings up another important question. The Obama administration knew that the Islamist terror networks ended up controlling many if not most of these weapons, and had become much more dangerous as a result. If that’s the case, how could they possibly have left the consulate in Benghazi as unprotected as it was?

    ReplyDelete
    Replies
    1. So the rulers of Qatar supply weapons to the Islamoids.

      That is old news.

      That the US knows and approves, policy during the Bush years, as well.

      That the Qataari and the Saudi were supporting aQ, well known. Goes back to the infamous 'Golden Chain' of terror financing.

      Ever since George W did the sword dance with the Saaudi Crown Prince the US has been subsidizing Wahaabbi radicals.
      It was General P's claim to fame, creating our 'Pathway' to victory in Iraq. US funding Sunni fundementalists. Rather than defeating them, we paid tribute dollars to them.

      Delete
  25. Dancing at the only "night club" on Vieques Island, Puerto Rico, 1969

    Pata Pata

    ReplyDelete
  26. You'd think if Mohammad had been up to 'no good' aka terrorism it would have been s SWAT team.


    Two well dressed men in suits.....early morning raid.....no explanation given.....Tri Cities....


    Aliens......NORDICS!!!!

    ReplyDelete
    Replies
    1. Trying to find out if they searched the apartment now.....developing

      Delete
    2. Take Me Away

      http://www.youtube.com/watch?v=MOLEixQom6o

      Delete
    3. Update

      Mohammad goes before immigration judge in Tri-Cities. Did not search whole apartment, only looked in his room. No handcuffs.

      Storm warning recedes.

      No more updates unless shocking news.....

      Delete
  27. Everything is a test.

    It never stops.

    ReplyDelete
  28. Just finished watching Doris's Chomsky link. I think Aristotle, and Chomsky might have overlooked one itty-bitty possibility, remote, though it might be.

    What if, in the case of the U.S. anyway, Democracee actually worked?

    I know, I know, it's nuts;

    but, what if?

    ReplyDelete
    Replies
    1. We'd need an educated an enlightened electorate, Ruf, say about 60% who always vote just as I do.

      :)

      Delete
  29. But I'm pretty sure that wasn't a real gorilla.

    ReplyDelete
    Replies
    1. More real than the singer, I think :)

      Delete
  30. Replies
    1. The best chuckle here might be that Aristotle didn't "discover" the sphericity of the earth, either." Evidently, all scholars knew for hundreds, if not thousands, of years prior to him that the world was round.

      For instance, Thales of Mileteus(?sp) was predicting the dates of eclipses a couple of hundred years before Aristotle's birth.

      (but, then again, that is a story told by a guy that lived a hundred years After Thales died.) So, there ya go. Legend as history.

      Delete
    2. One of those guys calculated the diameter of the earth within a few miles, but can't remember which one.

      Delete
    3. On the other hand, Aristotle thought slavery to be a natural condition of some of mankind, and that work was beneath a man of learning. Now we knows these things are not so. Also, he wanted to find out about the 'unmoved mover' from the outside, and describe it, but not experience it from the inside, and know it.

      Delete
    4. Eurasthanes? again sp?

      Thales, and those older guys didn't care about the "why?" They just wanted to know "wha' hoppened?"

      Delete
    5. The Babylonians were doing Quadratic Equations 4,000 yrs ago, it seems.

      Unlike the early Greeks, they left proof.

      Delete
    6. I tells ya, them old Mesopotamians was some pretty sharp cookies.

      Delete
    7. Newton was the all-time Greatest.

      Delete
  31. Dufus Victories:

    Medical Device Tax on GROSS SALES. 2.3 percent tax - Obamacare
    Surgical Sutures, Knee Replacements, Stents, etc. implanted by Docs.

    1 percent income tax Surcharge. - Obamacare

    3.8 increase on Cap Gains. - Obamacare

    ReplyDelete
    Replies
    1. This comment has been removed by the author.

      Delete
    2. Don't forget the developers being singled out for 'special treatment'.

      Delete
  32. Thales, and those older guys didn't care about the "why?" They just wanted to know "wha' hoppened?"

    Taking that at face value you could say they were 'barking up the wrong tree' then. Because it is only the 'why', that children's eternal question, that can a human meaning to life.

    Following along, we might say Judeo/Christianity focuses more on the why leaving the how more or less alone. I can't recall a parable of Jesus focused on the how or what.

    ReplyDelete
    Replies
    1. Adding to this, don't forget the Babylonia/Mesopotamian mathematics smuggled into the ages of the Patriarchs. I guess this might be called covering ones bases.

      Delete
    2. Newton was the all-time Greatest.

      Delete
  33. (not to include Deities, of course.)

    ReplyDelete
    Replies
    1. ...snuck that in to piss-off Dufus II.

      Delete
    2. :)

      I've taken up that habit too. About half the time one gets a good belly laugh out of it.

      Delete
    3. ...Dufus II, Penn Gillett, and that idiot English "Evolutionary Genius"

      1 millionth the Genius of Darwin.

      Delete
  34. Somehow the Peabrain is resistant to all logic which demonstrates evolution can be real w/o shedding one milliwatt of light on the dawn of creation.
    ...or lack thereof:
    Who says it hasn't been "here" forever?

    ReplyDelete
    Replies
    1. "It"?
      ...is that all their is, as what's her name used to croon.

      Delete
  35. OT,
    ...comment on Dennis Miller Site:
    (General Interest for you, Bing xmas day for them)




    Bing and I,



    Bing used to ride a horse to lead the "Cambria Pinedorado" Parade...

    ...then mill around the Pinedorado grounds and BBQ.

    ...the folks took us up to the Hearst Corals near San Simeon, and we'd watch Bing put the horse back in the fence.

    Folks also knew the Lovey's - a French Couple who lived down the road in a early Cambria style log cabin.

    She was the Governess at The Castle for the Hearst kids, he was the Pastry Chef.

    At home she'd cook on a huge wood stove, and always had a nice little kitchen garden.

    Mr. Lovey loved his wine, and once stuffed his Studebaker into a Monterrey Pine.

    ...the pine won that encounter.

    Dad always laughed about them saving the bathwater in the tub...

    ...not sure how that got recycled



    ---



    "The mention of the Cambria Pinedorado brings back some of my past ! I was
    stationed at an USAF radar site in Cambria in the late 50's and also worked
    part time at a Shell Station in Cambria and during the Pinedorado in 1957 Both
    William Randolph Hearst Jr. and Bing Crosby were co- Grand Marshalls of the
    parade, they road a couple of Hearst's horses. They both came into the station
    and I put gas in Bings 55 T-bird ( red ) Hearst did not get gas but drove a
    47 Buick convt. and his wife drove a 55 Chevy nomad.
    The Hearst Castle is just 9 miles north and in San Simeon they had a
    warehouse full of statues and stuff and Bing was buying up some of the statues,
    the State took over the Castle in 1958 for a State Park attraction. The Hearst
    Family still had the use of one of two Guest houses and ranch land."


    - Gene Barr



    ALSO:


    Voyager-1 is just leaving the solar system at 11 billion miles away. It has taken 35 years to get that far.

    Let 1 mile equal US$ 1. Then US$ 16 trillion equals 16 trillion miles.

    Voyager-1 has only traveled 0.07% of the 16 trillion miles in 35 years. The next nearest star system is Alpha Centauri at 4.24 light years (1 light year = 5.88 trillion miles) or 24.93 trillion miles away.

    The US dollar is 6.14 inches long or 0.0000969 miles long. Laying US$ 16 trillion dollars end-to-end is 1.55 billion miles long. The distance of Uranus from the Sun is 1.783 billion miles.




    Posted by AZJohn on December 05, 2012 at 11:44 AM

    ReplyDelete
    Replies
    1. Hate those anus references, unless I just dropped a clean one and took a shower.

      Delete
  36. Way back in ought '16:


    1916 Buick Six, Most Marvelous Road Record in Motor Car History


    "Compare the time made by the Southern Pacific’s crack train, the Lark, running over smooth rails and easy grades, with the extraordinary time made by the Buick Six up long, hard grades, over mountain passes, fording streams and racing over miles of desolate desert, and it will be easy to realize that this remarkable performance was only possible because of the fact that the Buick motor was capable of maintaining a speed of over 60 miles an hour for miles at a time, and the Buick chassis, notwithstanding the continued heavy hammering over rough roads that were covered at the same speed as were the boulevards, was in the same condition at the finish as at the start.
    Not a Mishap in the Entire Sensational Run
    Proving perfect ignition, perfect carburetion, perfect lubrication, perfect cooling system, perfect construction and design.
    A WONDERFUL RECORD BY A WONDERFUL CAR

    I’m sold. Meet me down at San Luis Garage on Monterey St. and we can pick one up for $1,170. If you only have enough for a two door the Dodge Brothers have a nice one for $880 and I hear the gasoline consumption is unusually low
    ."

    Read more here: http://sloblogs.thetribunenews.com/slovault/2009/03/1916-buick-six-most-marvelos-road-record-in-motor-car-history/#storylink=cpy

    ReplyDelete
  37. "The Lark was the overnight train between San Francisco and Los Angeles, even with the marginal roads of the time, inconsistent signage and nighttime driving the car beat rail by 3 hours.

    Within 50 years the Lark would be near the end.

    The 10 hour, 47 minute time over 457 miles shaved almost an hour and a half off the previous record.
    Today Google maps puts the Highway 101 travel time of 432 miles at between 7 to 8.5 hours depending on how many other cars are on the road.

    ReplyDelete
  38. This is even more theoretical than the Constitutional Option, though some argue that it is a stronger legal option. There are limits on how much paper money the U.S. can circulate and rules that govern coinage on gold, silver, and copper. BUT, the Treasury has broad discretion on coins made from platinum. The theory goes that the U.S. Mint would create a handful of trillion dollar (or more) platinum coins. The President would then order the coins deposited at the Fed, who would then put the coin(s) in the Treasury who now can pay all their bills and a default is removed from the equation. The effects on the currency market and inflation are unclear, to say the least. You would also likely trigger a wave of lawsuits similar to the Constitutional Option and create two tranches of treasuries. Both this option and the Constitutional Option are VERY low probability options.

    Where have I heard that before?

    As Joe Weisenthal points out, this idea originated last July with a commenter called "Beowulf" at Cullen Roche's Pragmatic Capitalism blog. Beowulf pointed out that although there are statutory limits that prevent the Treasury from printing paper currency to fund its operations, there's a quirk in the law that allows the Treasury to print platinum coins of any denomination.

    The Trillion-Dollar Coin Is Back

    ReplyDelete
    Replies
    1. Back to the future!

      boobie will blow a gasket and need a bypass, just being so far ahead of the curve aaat the EB.

      Delete
    2. We all must admit, the crapper was the first to venture this idea here.

      Delete
    3. What are the stuatory limits limiting the circulation of paper currency?

      Delete
  39. I hope to be the first in my neighborhood to have a Platinum Trillion. Hopefully they will be minted with a micro-copy of the Constitution on the back and maybe Paul Krugman on the front.

    ReplyDelete
    Replies
    1. Holy smokes Batman! A witty comment that displays some understanding of the issues with brevity to boot.

      I am gob smacked!

      Delete


  40. By Nick Allen

    6:44PM GMT 06 Dec 2012

    In the city of Seattle pro-cannabis campaigners celebrated in a haze at the foot of the Space Needle tower at one minute past midnight, the moment the state's new law came into effect.

    Vivian McPeak, director of Seattle's annual Hempfest, said: "This is a big day because all our lives we've been living under the iron curtain of prohibition. The whole world sees that prohibition just took a body blow."

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    Replies
    1. Legal status

      The twelve regional Federal Reserve Banks were established as the operating arms of the nation's central banking system. They are organized much like private corporations—possibly leading to some confusion about ownership.

      The Federal Reserve Banks have an intermediate legal status, with some features of private corporations and some features of public federal agencies. The United States has an interest in the Federal Reserve Banks as tax-exempt federally created instrumentalities whose profits belong to the federal government, but this interest is not proprietary.[2] In Lewis v. United States,[3] the United States Court of Appeals for the Ninth Circuit stated that: "The Reserve Banks are not federal instrumentalities for purposes of the FTCA [the Federal Tort Claims Act], but are independent, privately owned and locally controlled corporations." The opinion went on to say, however, that: "The Reserve Banks have properly been held to be federal instrumentalities for some purposes." Another relevant decision is Scott v. Federal Reserve Bank of Kansas City,[2] in which the distinction is made between Federal Reserve Banks, which are federally created instrumentalities, and the Board of Governors, which is a federal agency.

      Regarding the structural relationship between the twelve Federal Reserve banks and the various commercial (member) banks, political science professor Michael D. Reagan has written that:[4]

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