“Soft despotism is a term coined by Alexis de Tocqueville describing the state into which a country overrun by "a network of small complicated rules" might degrade. Soft despotism is different from despotism (also called 'hard despotism') in the sense that it is not obvious to the people."

Wednesday, July 24, 2013

Full Metal Racket - More financial engineering from the manipulating muthrfuckers of Wall Street

Hat Tip: Ash


Elizabeth Warren Wants To Take This Goldman Sachs Aluminum Story And Run Right Over Wall Street With It
Linette Lopez, provided by
July 23, 2013

Today the Senate Banking Committee met to discuss Wall Street's role in the global commodities business, and as you can imagine Senator Elizabeth Warren (D-MA) was quite outspoken about the fact that she wants it majorly diminished.
"...I share the concern of many of my colleagues about asset managers at huge Wall Street banks exercising control of key parts of America's infrastructure," she said.
This discussion is crucial, as all of that will come up for consideration in September.
Back in 2003 the Federal Reserve decided to temporarily allow banks to purchase commodities directly. That means oil, power, copper, aluminium etc. This September, that temporary regulatory relaxation is set to expire, and if it does, a big chunk of Wall Street's business will expire with it.
And now that the ruling is up for discussion, Congress gets to weigh in. Wall Street be warned, if this hearing was any indication, the Senate is coming down on the side of culling the commodities business.
Warren decried the idea that banks would use "other people's money" in pension and retirement savings "to pave the way for big banks to be able to control an electric plant or an oil refinery."
One witness at the hearing asked her simply — what would have happened if a bank had owned the Exxon-Valdez? 
If that general tone sounds ominous, recent news stories haven't helped. This weekend, the New York Times reported that Goldman Sachs has allegedly been using its aluminum warehouses to manipulate the price of the metal.
Additionally, JP Morgan is in negotiations with FERC, a federal energy regulator, to settle charges that its traders manipulated energy markets in the western U.S., they could pay up to $410 million.
For today's hearing, Senators heard testimony from Ms. Saule Omarova, Associate Professor of Law University of North Carolina at Chapel Hill School of Law; Mr. Joshua Rosner, Managing Director Graham Fisher & Company; Mr. Timothy Weiner, Global Risk Manager Commodities/Metals, MillerCoors LLC; and Mr. Randall D. Guynn,  Head of Financial Institutions Group.
Aside from Guynn, all of the witnesses cautioned against renewing the Fed's 2003 decision. Omarava was especially damning, saying that when Congress separated banking from commerce in 1956, they sought to prevent markets like the one we're in.
"In this... over the counter derivative oil market I suspect Goldman Sachs can actually manipulate price," said Omarava.  "They could also affect the price of physical oil if they own tankers... I'm all for the DOJ launching an anti-trust investigation into these matters... If this is the market where JP Morgan and Goldman Sachs are playing, it makes me very uncomfortable as a banking attorney."
Omarava also expressed doubts that regulators would be able to catch this activity as it's so complex.
The witnesses didn't just talk about prices either, they talked monopolies. Since her rise to prominence as a regulator and then a Senator, Warren has been saying that banks are getting too big, too interconnected, and too complicated. Rosner's testimony corroborated that idea, and added to it the specter of  commodities -controlling, all-encompassing banking behemoths backstopped by the government (too big too fail).
It's just more "coddling" from the Fed, he said, later adding... "These institutions have become the equivalent of the government institutions we saw fail during the crisis."
This isn't to say that Warren's going to give up her crusade to bring back Glass-Steagall and pick this up as her mantle — she's not. At the hearing she said that it was just "one tool in a tool box" to bring Wall Street back down to size.
There's a difference between the reinstatement of Glass-Steagall and this commodities issue though, and that difference is all that matters to Wall Street banks.
Where trying to reinstate Glass-Steagall seemed like a matter of lobbying and politicing, taking Wall Street out of the commodities business is seen as a matter of dollars. It impacts the Street's bottom line — if it didn't, Goldman wouldn't have put out a "fact sheet" on its involvement in the aluminum warehouse business.


  1. Nothing will change without shutting down the Muthrship.

  2. Another crooked dick?

    New York mayoral candidate Anthony Weiner held a press conference Tuesday to acknowledge a newly disclosed round of sexually explicit photos and text message with a woman online. "I said that other texts and photos were likely to come out, and today they have," he said. "We are focused on moving forward." Weiner said he will not be dropping out of the mayoral race. #NewsHeadlines

    1. Weiner’s latest squeeze:


    2. Beauty without brains is not a thing of beauty, its loveliness will fade.

  3. The secret of rat's War on Women and affection for all things muslim and detestation for all things Jewish explained -

    >>>>For example, during a recent episode of “With Dr. Islam Buhira” on Al Qahira Wa Al Nass TV station, Buhira explained how he had attended “a conference in Morocco on the status of women in society post Arab Spring,” and how at the conference, the following interpretation of the Koran by renowned Islamic exegete, al-Qurtubi (d.1273), was read: “Women are like cows, horses, and camels, for all are ridden.”<<<<

    1. (rat thinks women shouldn't be allowed to control their own bodies, just like cows, horses and camels shouldn't be allowed to control their own bodies)

    2. That is a lie, boobie, flat out.

      I have previously written that I support, in a general way, the legislation that has been enacted in Texas.

      The woman is in charge of her body for the first twenty weeks of gestation. That is the period of time that the fetus can be descried as an "nonviable tissue mass".

      After twenty weeks of gestation the fetus is no longer considered an "nonviable tissue mass" but a human being. The weakest of us, to be protected by the rest of us.

      The government has an obligation to protect the weak and powerless from oppression and death.
      An obligation to protect the minority from the majority.

      We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.--That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed,

      Life, the first unalienable right that the Creator endowed mankind and that government is obligated to secure.
      That you reject that salient part of the secular creed of the United States of America, well, it exemplifies why you tell us that the US is an apartheid nation and that cities have no reason to honor their promises to pay bond holders, to honor their contractual obligations or to the capacity of their residents to pursue happiness.

      You are a lost soul, adrift in a sea of moral turpitude.


    3. "You are a lost soul, adrift in a sea of moral turpitude."



      Why do endlessly bring up abortions in Israel?

      Really, why do you keep coming back to that?

      When the good ol' US of A is probably the abortion capital of the world, these days.


    4. "The woman is in charge of her body for the first twenty weeks of gestation. That is the period of time that the fetus can be descried as an "nonviable tissue mass"."


      Here's our Dr. rat, laying down the Reproductive Law, as he sees it. Many women might say, well, thank you, rat sir. Others might disagree.

      "That is the period of time that the fetus can be descried as an "nonviable tissue mass."


      Well, it CAN be descried that way, and many other ways too, but it can also be described as the beginning stages of a Human Life, which runs from conception to death. And maybe, even, from something earlier to something after.

      All I'm trying to do is point out the lunacy of rat always getting hung up on Israeli abortions.

      And how he is always laying down the Law for everyone else.

      rat's a lost soul, adrift on a sea of hypocrisy, self righteousness, nastiness, and asininity.

      As always.

  4. China presently produces more than 95% of all rare earth materials that are vital in the creation of a big variety of electronic technologies including lithium car batteries, solar panels, wind turbines, flat-screen television, compact fluorescent light bulbs, petroleum-to-gasoline catalytic cracking, and military defense components such as missile guidance systems. It also dominates abilities to process them. This enables it to attract product manufactures to operate there as a condition of doing business, ration exports to maximize prices, and punish nations that don’t go along with its policy interests through supply embargoes. Beijing reduced rare earth shipments by 9% in 2010 over 2009, and has recently announced plans to reduce exports by another 35%.

    China produces the vast majority of two particularly important rares, dysprosium (99 percent) and neodymium (95 percent). The motor of a Prius requires about 3 pounds of the latter. While other countries, including the U.S., have significant amounts of these, China’s low-cost labor and lax environmental restrictions has afforded it a big advantage in this mining-intensive industry.

    Last year Congress required the Pentagon to examine the use of rare earth materials in defense applications to determine if non-U.S. supplies might be disrupted and identify ways to ensure adequate supplies by 2015. In response, the Pentagon sent back an unpublished report last month titled “Rare Earth Materials in Defense Applications” which concluded that the military is in pretty good general shape except for yttrium, an element used mostly in lasers. While China produced about 98% of the world’s yttrium in 2011, U.S. natural reserves of that material are about half as large.

    1. Good to know that the need for yttrium in the USA will be met by Hollywood when it is time for them all to replace their "vehicles" batteries.

      By that time, even THEY will be disgusted w/their fraudulent little Prius Pieces of Shit.
      ...and we can reclaim and recycle the yttrium, crush the little MoFo's, and sell the blocks of Green Steel to the Chi-Coms.

  5. While looking up an old friend who was a Professor at Cal Poly San Luis Obispo, who had some acreage near our farm.

    Grew up in Brooklyn, wife in Jamaica.
    "Black Jews" he said they were called by the boys in Brooklyn.
    She did drive a hard bargain when I agreed to build some jumps for their daughter's horse. she could better Dressage the beast.


    Came up with this:

    President Welty's Diversity and Inclusion Statement

    Diversity is essential to our academic excellence at Fresno State.

    We are dedicated to reducing any barriers to success that come from race, ethnicity, socioeconomic status, culture, religion, linguistic diversity, ability, gender identity, sexual orientation, age, geographical region, personality, learning styles, life experiences and other human characteristics.

    "ability" !

  6. Good plan, Doug.

    Ash, you have gotten a coveted Hat Tip your first day back. This is remarkable achievement and nearly unheard of around here. They are rarely given out. Congratulations!


    July 24, 2013
    The 'economy tour': It happens every time his polls drop
    Silvio Canto, Jr.

    It happens every spring or maybe every summer or maybe every time that the Obama approvals start dropping.

    Like Willie Nelson, President Obama is "on the road again". Get ready for another economic tour - another round of speeches about how his agenda is tied up by that GOP that does not care about poor people, children, grandmothers and everybody else.

    Hopefully he won't use that bus "Made in Canada" this time around.

    We just learned that President Obama will unveil his new economic agenda:
    "With major battles looming in the fall over the federal budget and the debt ceiling, President Obama is trying to regain the initiative, embarking on a campaign-style tour of the Midwest this week to lay out his agenda for reinvigorating the nation's economy, administration officials said Sunday. "
    Does this guy know that he's been president for the last 5 years? or that he passed a "stimulus" in the spring of 2009?

    President Obama is doing a little more distraction than unveiling anything new about the economy:
    1) The last jobs report was mixed to say the least. Morton Zuckerman is not impressed:
    "The longest and worst recession since the end of World War II has been marked by the weakest recovery from any U.S. recession in that same period."

    2) Gasoline prices are going up and that's squeezing middle class incomes:
    "The economic recovery of summer 2013 is playing out in an all-too-familiar way for poor and middle-class Americans: Gas prices are up, growth is slowing, and there still aren't nearly enough new jobs to employ the almost 12 million people seeking work." (Washington Post)

    3) The Senate immigration bill is dead. We will probably get something from the House but I'm not sure that President Obama will sign it:

    4) The Middle East is a mess and Iraq may be the next headache; and

    5) ObamaCare may have to be delayed because it's not ready for prime time. The unions are the last group to figure it out!

    President Obama has little to talk about or show for his 5 years in the presidency. Job growth is weak. Immigration is stuck in the Congress. ObamaCare is not off to a good start.

    Why not get out of Washington DC and go around the country giving speeches to pre-screened "yes we can screamers"? It beats governing, tackling problems or showing leadership!

  7. Guess what was the biggest factor in Detroit's demise?


    Details to follow tommorrow or the next.

    Anybody surpised Quirk's been sitting on this tawdry factoid all these years?

    Our Klansman in the closet is about to be outted!

    1. Quirk is just upset because the blacks in Detroit never fell for his SoulsRUs bullshit.

      After his spiel I often heard them say "Bro, you really a creepy ass cracker" and walk away.

      Quirk kept tweeking his technique, but to no avail, it was always "Bro, you really a creepy ass cracker."

      It kinda got to poor Quirk, after a while.

  8. .

    Not sure what Doug's latest remarks actually have to do with the old Quirkster.

    However, as they are likely the result of sleep deprivation and one too many pina coladas, we can only wish him well.


  9. .

    Yes, Littorally, one more DOD boondoggle initiated with the aid of Lockheed Martin.

    Like the F35, it appears all Lockheed Martin more than double in cost by the time they are launched and never seem to work in the way described when sold to Congress. The latest example the Littoral combat ships.

    Note: Once you finish this article go to the bottom and check out the 'Seven More Boondoggles fr the Military to Cut'. It has something for everyone, Rat, Rufus, Deuce...


    1. How did Trish describe us? Disgruntled ex-enlisted men? :)

    2. I’ll give it my “fucken-A”. They should name the first ship “USS Liberty”.

    3. We acknowledge Deuce's hatred for the Jewish State of Israel.

      We acknowledge Deuce's viewing the Jewish state as NOT an ally....

      So if that is true?

      Why the obsession by what Deuce deems an act of war?

      Germany and Japan have sunk many more and killed scores more and yet no hostility at them?

      Just three days after U.S. President Woodrow Wilson's speech of February 3, 1917—in which he broke diplomatic relations with Germany and warned that war would follow if American interests at sea were again assaulted—a German submarine torpedoes and sinks the Anchor Line passenger steamer California off the Irish coast.

      The SS California departed New York on January 29 bound for Glasgow, Scotland, with 205 passengers and crewmembers on board. Eight days later, some 38 miles off the coast of Fastnet Island, Ireland, the ship's captain, John Henderson, spotted a submarine off his ship's port side at a little after 9 a.m. and ordered the gunner at the stern of the ship to fire in defense if necessary. Moments later and without warning, the submarine fired two torpedoes at the ship. One of the torpedoes missed, but the second torpedo exploded into the port side of the steamer, killing five people instantly. The explosion of the torpedo was so violent and devastating that the 470-foot, 9,000-ton steamer sank just nine minutes after the attack. Despite desperate S.O.S. calls sent by the crew to ensure the arrival of rescue ships, 38 people drowned after the initial explosion, for a total of 43 dead.

      This type of blatant German defiance of Wilson's warning about the consequences of unrestricted submarine warfare, combined with the subsequent discovery and release of the Zimmermann telegram—an overture made by Germany's foreign minister to the Mexican government involving a possible Mexican-German alliance in the event of a war between Germany and the U.S.—drove Wilson and the United States to take the final steps towards war. On April 2, Wilson went before Congress to deliver his war message; the formal declaration of U.S. entrance into the First World War came four days later.

      Now of course, America NEVER has bombed the wrong target, nor ever made a mistake in war committing friendly fire.

      But IF Israel INTENTIONALLY attacked the Liberty?

      Then why is there no attention to the scores of nations that have attacked and sunk OTHER American ships?

    4. Because the US does not give North Korea over $3 billion in aid or guarantee the North Korean government's debt

    5. There is no what if. They did it. Who you gonna believe, the US GI's that were there or lying Israeli politicians and their flacks in the US?

    6. We know that the Liberty was attacked.

      you do not accept apologies or restitution.

      SO if we take your position?

      Why was the Liberty spying on Israel?

      Oh that's right American never spies on friends and allies.


      can you say PRISM? NSA?

      So was America via the NSA spying on Israel against public orders?????

      Or was American spying on Israel, so close the sailors could HEAR the Egyptian bombs exploding on shore, with the consent of the USA?

    7. The Rat points out ONE nation that has bombed AMerican ships...

      A nation that we DO in fact have given tons of cash, food and fuel to and has broken every agreement with the USA..

      Try again, Rodentboy..

    8. DeuceWed Jul 24, 02:14:00 PM EDT
      There is no what if. They did it. Who you gonna believe, the US GI's that were there or lying Israeli politicians and their flacks in the US?

      Now the way Deuce phrases this, do you infer all Israel politicians lie?

      Again, Deuce you show your hand. A complete hatred of Israel.

      It's your right to hate Israel, just be honest...

    9. Deuce maintains that the attack was deliberate.


      What was to gain?

      What would be the motivation?

      If you claim the American ship was just sailing around the Med just having fun in the sun? Why over 100 miles off course?

      Try to answer the questions without hatred, insults or censoring the question.

    10. Our in house AIPAC does not understand either scope or scale.

      John Alliage Morales on 24 April 2013

      “Our policy in providing humanitarian assistance is based on conditions of need,” ambassador Robert King, U.S. special envoy for North Korean human rights, told reporters on Monday. “If there were a request for assistance it’s something I’m sure that we would look at.”

      Washington has a history of suspending assistance to Pyongyang for political reasons.

      In April 2012, the United States stopped sending some 240,000 metric tons of food aid after North Korea announced to launch a nuclear satellite launch. Four years ago, the U.S. also suspended its food aid program to North Korea following the latter’s decision to expel international aid groups from the country.

      This year, North Korea has so far received $7.6 million worth of food aid channeled through the World Food Program and UNICEF.

      Only in an AIPAC's mind would $7.6 million in food stuffs, from the UN, would be equivalent to $3 billion in cash and tens of billions in loan guarantees.

      The US does not provide financial aid or guarantee North Korean debt.
      Once again the Quot is repeating propaganda and spreading lies. The US is not providing cash or loan guarantees to NorK.

      If the US were to hold the Israeli to the same standard as the North Koreans, well, when the Israeli built a settlement in Arab Palestine, against the precepts of the Geneva Accords, the US would cut off the aid it supplies to the apartheid regime in Tel Aviv.

    11. This comment has been removed by the author.

    12. From the Congressional Research Center:

      Foreign Assistance to North Korea

      Mark E. Manyin - Specialist in Asian Affairs
      Mary Beth Nikitin - Specialist in Nonproliferation

      June 11, 2013

      Since early 2009, the United States has provided virtually no aid to North Korea, though episodically there have been discussions about resuming large-scale food aid. Additionally, the Obama Administration officials have said that they would be willing to consider other types of aid if North Korea takes steps indicating that it will dismantle its nuclear program. However, barring an unexpected breakthrough, there appears little likelihood the Obama Administration will provide large-scale assistance of any type to North Korea in the near future. In February 2013, North Korea announced it had conducted its third test of a nuclear device, a move that came weeks after its apparently successful launch of a long-range missile. Members of Congress have a number of tools they could use to influence the development and implementation of aid programs with North Korea.

      Further proof that our AIPAC mouthpiece is talking out his ass.

    13. If the apartheid regime in the Israeli portion of Palestine ended its apartheid policies and allowed a right of return to the 1948 war refugees, a little aid would not be objectionable.

      As it is, today, the Israeli are not worthy of being pissed upon, if they were on fire.

    14. .

      Or was American spying on Israel, so close the sailors could HEAR the Egyptian bombs exploding on shore, with the consent of the USA?

      Of course American was spying. The Liberty was a spy ship. It was picking up every communication it could from everyone in the area. That was its job. But...

      It was a US ship and the US was an ally of Israel.

      It was in international waters.

      The Israelis attacked it. If it was an accident, the Israelis are the dumbest fucks I've ever seen. The attacks lasted over some hours on a clear day.

      The US fleet was the only thing standing in the way of Russia getting involved on the Arab side.

      While continuing to deny the attack was intentional and saying what a terrible mistake it was, the Israelis still held ceremonies honoring the military involved.

      Try to answer the questions without hatred, insults or censoring the question.

      There have been a number of theories as to the Israeli motivation, I could list them but why bother, that's up to the Israelis to answer. They are the ones that attacked the Liberty.

      But let's face it WiO, you are not really interested anyway. You made up your mind a long time ago that Israeli deliberately attacked the Liberty because they believed the US was handing over data to Israel's enemies, a story fabricated by a discredited whack job who defends his story using 'our sources' and 'old spies' as authentication.

      Get real.


    15. desert ratWed Jul 24, 06:48:00 PM EDT
      From the Congressional Research Center:
      Foreign Assistance to North Korea

      Love the you selectively answer a question.

      Notice how you chose the LIMITED time frame;; gloss over decades of aid by the USA, to speak of a single instant when aid was suspended.

      Nice edit of you...

      as for your assertion that only I could compare 3 billion in military aid to 7.6 million in food aid?

      we Mr Checker Player Rodentboy, to the North Koreas 7.6 million in food is the same as 3 billion to the Israelis in military assistance.

      GDP per capita $31,005 Israel - North Korea's GNP per capta $1,038

      North Korea's population are starving to death. 240,000 metric tons of food aid? Just how many mouths does that feed?

      As for the 3 billion that Israel gets? It SPENDS most of it in AMERICA with American companies that profit off the exchange, creates HIGH paying USA jobs ya know...

      SO 240 metric tons of food, plus food and other stuffs for years and years to an affirmed ENEMY of America..


    16. There is no one that has ever posted on this blog that knows for sure what happened with the Liberty.

      Therefore everyone here is just taking a Rorschach Test, and nothing more.

      You can learn a lot about a person from a Rorschach Test.

    17. QuirkWed Jul 24, 08:27:00 PM EDT
      Of course American was spying. The Liberty was a spy ship. It was picking up every communication it could from everyone in the area. That was its job. But.. It was a US ship and the US was an ally of Israel. It was in international waters.
      The Israelis attacked it. If it was an accident, the Israelis are the dumbest fucks I've ever seen. The attacks lasted over some hours on a clear day.

      So answer the question. IF it was intentional as Deuce claims, and it wasnt an accident as Israel claims, and it WAS spying on Israel 100 miles away from where it was supposed to be, and it was 12 miles off the coast of gaza (international waters? give me a break in the MIDDLE of a war zone)) Then why did israel attack it IF YOU THINK ISRAEL DID NOT ATTACK IT TO STOP THE SPYING????

      quirk: The US fleet was the only thing standing in the way of Russia getting involved on the Arab side.

      Sure, 100 aways to the west... way away from the active war zone...

      quirk: While continuing to deny the attack was intentional and saying what a terrible mistake it was, the Israelis still held ceremonies honoring the military involved.

      In 1967 Israel was faced with extermination on all sides. Now I know AMerican has never bombed anything it should not have right?

      Like the Chinese Embassy in Bosnia?
      Cable reveals US behind airstrike that killed 21 children in Yemen?
      Bill Clinton Bombs an Aspirin Factory?
      Iran Air Flight 655?
      US bomb kills 30 at Afghan wedding?

      And that's just recent...

      quirk: there have been a number of theories as to the Israeli motivation, I could list them but why bother, that's up to the Israelis to answer. They are the ones that attacked the Liberty.

      No, it's not up to them. They say it was an accident, misID. You must have a theory...

      Quirk: But let's face it WiO, you are not really interested anyway. You made up your mind a long time ago that Israeli deliberately attacked the Liberty because they believed the US was handing over data to Israel's enemies, a story fabricated by a discredited whack job who defends his story using 'our sources' and 'old spies' as authentication.

      Actually, no Quirk, I took that public position since no one on this blog believed that it was an accident. So I took THIER position, it was on purpose. SO WHY? The only reason that fits? America was aiding Israel's enemies. Which you say is far fetched. Oh btw, America gave ammo, night vision and armored vehicles to hezbollah last year worth 248 million, America gave UNDER THE MOSLEM Brotherhood BILLIONS in additional economic and military aid. America trains palestinians to be soldiers over the last 30 years many of whom after training murder Israelis...

      So America does have a history of aiding Israel's enemies. Many times over, why should the Liberty NOT be an example of the same?

    18. desert ratWed Jul 24, 06:52:00 PM EDT
      As it is, today, the Israeli are not worthy of being pissed upon, if they were on fire.

      That is the anti-semetic Rat that we all are proud of... Honest hatred of Jews...

      Rat's momma would be proud...

    19. Nothing to do with Jews, Quot.
      Israel is a secular state.

      I am anti-apartheid.
      I am anti-bigotry based upon ethnicity, race or religious creed.

      The US subsidizes all of that when we give aid to the Israeli.

      They are not worthy of being pissed upon, they are secular socialists that finance the murder of 20,000 Jews every year. The Chief Rabbinate of Israel has so told the world.
      The financing of the murder of Jews, that is truly "anti-Semitic".
      Murder and apartheid those are the hallmarks of the state of Israel.
      It has nothing to do with their religion or language.

    20. Keep it going, call me names, I will continue to speak to the atrocities committed by the secular socialist government in the Israeli portion of Palestine.

      I defend the Jews right to life, you defend murdering them.

      My position is anti-Israeli, yours is anti-Semitic.
      You defend the murder of Jews, over 250,000 of them in the 21st century.

      The greatest murder of Jews since the NAZI, occurring on an ongoing basis, in Israel, day after day of th 21st century, financed by the government of Israel.

      That is anti-Judaic behavior, exemplified to an extreme.

    21. Time frame?

      Since 2009 the US have gifted the Israeli, well over $15 billion USD. More if the loan guarantees are factored in. Now the US is guaranteeing the "Roll Over" of Israeli debt.

      How much further would you like to back?
      The variance will grow, exponentially.

      If you do not like the data set, provide one yourself.

  10. .

    The AP reports Snowden has been given a document allowing him to leave the airport transit zone and enter Moscow.



  12. .

    With regard to the market for oil, I have been saying for years that the banks have been major speculators and manipulators through futures contracts; however, I was unaware of how some of these banks actually influence supply and demand and pricing by manipulating physical stocks of oil and these other commodities.

    It's good to see Congress is holding hearings but we will have to see where it goes. The GOP has always hated Elizabeth Warren but I've always kinda liked her.

    Although, I don't see the need for doing away with the FED, I am starting to move more towards rat's position, and I now think it is due for a major overhaul.

    As for the SEC although they occasionally catch one of these crooks, typically they are toothless. The video on the phantom trades illustrate one issue with computer high-speed trading. Another that gets the most press is where VIP customers of the organizations that release stats that move the market get the data before everyone else in the market. Once more the 1% gets the wine and the 99% get the dregs.


  13. White House Press Secretary Jay Carney said yesterday that the Obama administration has pulled the nation from the depths of the “Great Recession” with the creation of 7.2 million private sector jobs.

    "And what is absolutely true is that we have come a long way since the depths of the Great Recession. We've created over 7.2 million private sector jobs," Carney told reporters at a press briefing.

    Here's what Mr. Carney didn't say:

    Since February of 2009, the first full month of Obama's presidency, 9.5 million Americans have dropped out of the labor force. Nearly 90 million Americans are not working today!

    That means that 1.3 Americans have dropped out of the labor force for every one job the administration claims to have created.

    There are 15 million more Americans on food stamps today than when Obama assumed office.

    At the end of January 2009, 32,204,859 Americans received aid from the Supplemental Nutrition Assistance Program. As of April 2013, there were 47,548,694 Americans on food stamps.

    That means that more than two Americans have been added to the food stamp rolls for every one job the administration says it has created.

    Under Obama, 1.6 million more Americans are collecting disability insurance. In February 2009, 9,334,369 Americans received disability payments. Today, that number is 10,953,733.

    - See more at:

  14. gotta love wall street!

    "“I was planning on retiring in October, but now I’m not sure,” one city worker, who repairs potholes, told The Wall Street Journal. His uncertainty is well founded. Detroit owes an astonishing $3.5-billion on its pension funds, and may only be able to make good on 10 cents on the dollar.

    Yet, as Mr. Mead notes, not everyone’s a loser. Although pensioners and school children may be out of luck, Wall Street has profited handsomely. Since 2005, the city has forked over $475-million in fees to the banks to refinance its debt. “We have no lights, no buses, poor streets and now we’re paying millions of dollars a year on our debt,” David Sole, a retired municipal worker, told Bloomberg."

  15. Well, heck, those are counter-cyclical programs. They're supposed to kick in when the economy goes south, and Bush, the banks, and peak oil sent it all the way to Antarctica.

  16. The Great Drought appears to be over. December Corn is down to $4.80/bu.

    That has brought December Ethanol down to $1.86/gal.

    Dec Corn

    1. Speedway stations in the Chicago area are selling E85 at a $1.40 Discount (35%) to Gasoline.

  17. The idiot, “Thank you for your aircraft carrier service”, John McCain, and his superior ability to recognize the subtleties of who is who in Syria, strikes again

    We all remember who supported McCain for President, in 2008 and who was opposed.

    The reason for the opposition, the Foreign Policies that a President McCain would pursue.

    I would like to say ...

    "Hate to say a told you so" ...

    But I don't hate a thing.

    1. BwahaHAHAHA

      Nobody believes a word you say any longer.

      Nastiness, and hate, and spite simply exude from you.

      You've shown your real personality for years.

    2. Calling that good person Trish 'den mother' for years.

      Why in hell would you do that?

      Because you are filled with nastiness, and hate, and spite.

    3. Ummmmm, because she insisted on correcting everyone's grammar!

    4. "Rat, why don't you just take a hike. You argue with EVERYONE."


      Instead, Whit took the hike. If rat had taken the hike, Whit might still be here. And we'd all be much better off.

      Good Lord, Ash, she didn't do that much, and everyone here has done it, especially Quirk, always bitching about my grammer, and I don't call Quirk nasty names 10 times a day, maybe once or twice only, on average, and sometimes I praise him to beyond the moon, and besides correcting grammer is what school marms do, not den mothers.

    5. And besides, if she WAS correcting everyone's grammer, and I don't recall that, no one else gave a damn about it, only rat.

    6. I'm going to migrate on over to Fox News for awhile.

      The local arsonist at Washington State University got busted today.

      Millions of dollars of damages over about a year.

      "Voices in my head told me to do bad things after I had been drinking" he said.

      Million dollar bail.

      Public defender.


    7. Sunny In Fur Lined Hoodie Explains It All

      Justice For Trayvon

    8. I called Trish the Den Mother because we were all a bunch of Cub Scouts, dimwit.

      Just as I call you boobie because you are a boob.

      You express the morality of a crook. Denying that the City of Detroit has a moral obligation to pay it's debts, while maintaining an art collection.

      The argument that the art can only be appreciated in Detroit, is ludicrous. Any museum or individual that bought the art would appreciate, at least as much as the people of Detroit do.

      In fact most of the art at the DIA is never seen by the public. 90% of the pices are in storage, dimwit.

      With 10% of the DIA’s 60,000 pieces on permanent display, some suggest selling works in storage would be an easy way to raise millions for the city. Jo Ann Mannino, a commenter on a previous Free Press article about the DIA, expressed a common opinion when she wrote,

      “I’m sure the DIA has items in storage that are not displayed and could be sacrificed to help with Detroit’s money woes. If artwork isn’t seen, then it has no value to anyone.”

      You are still adrift in a sea of moral turpitude, boobie.
      You defend the murder of Jews, financed by the state of Israel, placing those murdered Jews in the "nonviable tissue mass" category of humanity.

      You once told us that Judaism was the light of western civilization, now you denounce the Chief Rabbinate of Israel, because they refuse to bow to secular socialist political correctness.

      You are not only a lying immoral cur, you have proven yourself to be anti-Semitic to boot.

    9. Guess you never participated in Scouting, aye boobie.

      Is it because they did not allow homosexuals to participate, or did you just deny your son the opportunities Scouting provides because you were selfish, not wanting to spend the time helping him earn Merit Badges.

    10. Scouting really does provide for father and son activities, moms can get involved too.

      As ...
      ... Den Mothers

      You really are ignorant of the real world, aren't you.

    11. "Rat, there's something really wrong with you."


      "Why don't you take a hike, rat."


    12. "Why don't you take a hike, rat, all you do is argue with everyone."

      Whit, amended, and completed

    13. Trish obviously didn't appreciate the name. In fact, she thought you were crazy. And said so. I recall her saying, "rat, I've listened to your conspiracy theories for six years now. They're crazy, why do you keep it up?"

  18. A $91 billion industrial project here, mired in debt and unfulfilled promise, suggests part of the reason why China's economy is wobbling – and why it will be hard to turn around.


    Nearby, an office park planned to be finished in 2010 is a mass of steel frames and unfinished buildings. Work on a residential complex was halted last Christmas, after workers completed the concrete frames.

  19. On this day in 2005, cyclist Lance Armstrong won a record seventh straight Tour de France.