"That's All Folks!"

Not sure what spooked the market so sudden as no news has come across the wire. Oil dropped, the 10 year dipped and of course the DXY dipped as well, my call of 83.49 looked solid up until an hour ago.

Oh well New month new volatility...Have nice weekend folks.

Oil

http://www.marketwatch.com/investing/future/crude%20oil%20-%20electronic

Oil bouncing on the day low.

Banks complain about QE3 to Fed

Banks complain about QE3 to Fed

The bankers seemed lukewarm at best about the Fed’s $85 billion-per-month asset purchase program, saying it provided some support for a slow recovery but wondered whether it was the right policy to boost growth and employment.
The bankers were also concerned about the Fed’s exit strategy, noting that unwinding the easy policy stance may be painful for consumers and businesses.
And after buying so many mortgage-backed securities over the past five years, the Fed “may now be perceived as integral to the housing finance system.”

Federal judge in SF rules Google has to comply with secret, no-warrant demands for user data: report

Federal judge in SF rules Google has to comply with secret, no-warrant demands for user data: report - The Tell - MarketWatch

Constitution will be undone at same time as the dollar reserve currency ponzi...
Crimerica, a place for the elites

More U.S. Small Businesses Letting Workers Go Than Hiring

http://www.gallup.com/poll/162800/small-businesses-letting-workers-hiring.aspx

These results are from the quarterly Wells Fargo/Gallup Small Business survey, conducted April 1-5, 2013, with a random sample of 603 small-business owners.
Small-business owners' self-reported net hiring has remained at a similar level since January 2011, but is up from the low of -27 recorded in January 2010.
The 11% of small-business owners who reported a net jobs increase at their companies over the past 12 months is similar to the percentage who reported this in January and last April; the same is true for the 23% reporting a decrease in the number of job positions.

U.S. 10 Year Treasury Note : Spike 2.19%

http://www.marketwatch.com/investing/bond/TMUBMUSD10Y?countrycode=BX

Kindergartener interrogated over cap gun, suspended 10 days | The Daily Caller

Kindergartener interrogated over cap gun, suspended 10 days | The Daily Caller

The suspended boy had acquired the menacing, plastic, orange-tipped weapon at Frontier Town, a western-themed campground with a water park, mini golf and the like.
School officials at Dowell Elementary School in the town of Lusby proceeded to question the five-year-old for over two hours before finally calling his mother, whom The Post also does not name.
The principal eventually called the boy’s mother at 10:50 a.m. By that time, the five-year-old had wet his pants (which the mother called highly unusual).

 The principal told the boy’s mother that the boy had simulated shooting someone on the bus with the offending novelty. However, both the boy and his older sister, a first-grader, say the principal is not telling the truth

The Post explains that the principal — Jennifer L. Young, according to Dowell Elementary’s website — told the kindergartener’s mother that things would have been even worse had the toy gun been loaded with caps. In that case, the school would have regarded the plaything as an explosive and called the police.

You're children's educators at work here folks, born an bred Low information Dopes. Why these people are even allowed within 50 yards of a School is way beyond my comprehension. It's people like this who you should fear when dropping your children off for ( so called ) school. Again I can't stress enough Lawsuit, Lawsuit, Lawsuit...This child was obviously traumatized by the whole ordeal hence the wetting of his pants. And who gave this principle the right to question this child for two grueling hours and incarcerate him without his parents or council present?

Again LAWSUIT! its the wallet that counts!

Russia to sell MiG fighters to Syria - Tehran Times

Russia to sell MiG fighters to Syria - Tehran Times

 Korotkov said Friday that a Syrian delegation was in Moscow to discuss terms and deadlines of a new contract supplying MiG-29 M/M2 fighters to Syria. He did not say how many MiGs Syria were buying, but mentioned it would be "more than 10."

Russia has previously said that it would only fulfill outstanding arms contracts with Syria.

BOJ to mull offering two-year funds in market operations: sources

http://www.reuters.com/article/2013/05/31/us-boj-idUSBRE94U0SE20130531

The longest period for which the central bank offers funds in fixed-rate market operations is currently one year.
Central bankers are entertaining the idea of expanding that to two years, for the first time ever, in order to bring more flexibility by pumping longer-term cheap money into markets, as advocated by some market participants at a meeting with BOJ officials on Wednesday, the sources said.
Any such move would require a change in the BOJ's internal rules and needs approval by its nine board members, who may discuss the idea as early as its next policy review on June 10-11 after scrutinizing market moves beforehand.

Rate Shock: In California, Obamacare To Increase Individual Health Insurance Premiums By 64-146%

Rate Shock: In California, Obamacare To Increase Individual Health Insurance Premiums By 64-146% - Forbes

Here’s what happened. Last week, Covered California—the name for the state’s Obamacare-compatible insurance exchange—released the rates that Californians will have to pay to enroll in the exchange.
“The rates submitted to Covered California for the 2014 individual market,” the state said in a press release, “ranged from two percent above to 29 percent below the 2013 average premium for small employer plans in California’s most populous regions.”

ObamaCares purpose is to save the absolute socialist failure of Medicare, bailing it out with new taxes, and rationing. This  couldn't happen to a better State, a State  full of Low information voting  Liberals..May the chains that bind them choke them.

Cyprus freezes assets of former bank executives - Yahoo! News

Cyprus freezes assets of former bank executives - Yahoo! News

Cypriot authorities said on Friday they had temporarily frozen assets of three former senior executives of a now-defunct bank whose demise triggered Cyprus's chaotic bailout.
Cyprus's central bank said the administrator it appointed for Popular Bank, also known as Laiki, secured an interim court order freezing assets of Greek businessman Andreas Vgenopoulos and two others.
All three, who are Greek nationals, once served as directors at Laiki, now being closed down with thousands of depositors losing their savings.
The central bank gave no reason for the asset freeze.
Laiki was effectively nationalised in 2012 and kept on a European Central Bank liquidity lifeline until March, when a decision was taken to shut it down.
Vgenopoulos was non executive chairman before he left in late 2011. The three bankers together had nearly 5.3 billion euros in assets frozen, according to the central bank.

Kyrgyzstan rocked by protest at Canadian gold mine

http://mtstandard.com/news/world/asia/clashes-hit-canadian-gold-mine-in-kyrgyzstan/article_045f1c8f-ade2-51f6-96f6-53fb33249836.html

http://rt.com/news/kyrgyz-gold-mine-clashes-050/

Hundreds of stone-throwing protesters have besieged a Canadian gold mine office in Kyrgyzstan, clashing with riot police and prompting the Central Asian nation to declare a state of emergency.
Over 50 people were wounded and 80 detained in the clashes Friday, authorities said.
Protesters want the Kumtor gold mine to be nationalized and the company to provide more benefits. The mine, operated by Toronto-based Centerra Gold, is the largest foreign-owned gold mine in the former Soviet Union.
The protest also triggered unrest in the southern city of Jalal-Abad, where hundreds stormed the governor's office.
The protests threaten further turmoil in the ex-Soviet nation of 5 million, which hosts a U.S. military base supporting military operations in nearby Afghanistan.

British Taxpayers to Get Bill for Bilderberg Meeting Security; Don’t Bother Asking How Much Because It’s a Secret

Via: Telegraph:

The clandestine meeting of royalty, prime ministers and business chiefs is taking place in Britain for the first time since 1998, sparking fears of “violence and disturbance” by protesters.
The Bilderberg organisers, who include Tory Cabinet minister Ken Clarke, do not release a guest list but a roll-call of luminaries are expected to descend on a luxury Watford hotel from June 6, forcing police to step up security.
Hertfordshire police have refused to release the cost of security for the event, which has previously drawn anti-capitalist demonstrators in other locations around the world.
However, they are in talks with the Home Office about a grant for “unexpected or exceptional costs” that is only given out if it threatens the stability of the force’s policing budget. The final bill would have to total more than one per cent of the police force’s overall spend – or about £1.8 million – for the grant to be successful.
The invitation-only Bilderberg meetings are attended by around 140 members of the international elite.

Schools Scanned Students’ Irises Without Permission

Via: Russia Today:

Parents in Polk County, Florida are outraged after learning that students in area schools had their irises scanned as part of a new security program without obtaining proper permission.
Students at three facilities — an elementary school, a grade school and a high school — had their eyeballs scanned earlier this month as part of a ‘student safety’ pilot program being carried out by Stanley Convergent Security Solutions.
“It simply takes a picture of the iris, which is unique to every individual,” Rob Davis, the school board’s senior director of support services, wrote home to parents in a letter dated May 23. “With this program, we will be able to identify when and where a student gets on the bus, when they arrive at their school location, when and what bus the student boards and disembarks in the afternoon. This is an effort to further enhance the safety of our students.The EyeSwipe-Nano is an ideal replacement for the card based system since your child will not have to be responsible for carrying an identification card,” he added.
Parents at Daniel Jenkins Academy, Bephune Academy and the Davenport School of the Arts received the letter from the school board on May 24 informing them of the EyeSwipe-Nano program and that their child’s principal should be notified if they don’t want their son or daughter to participate.
But elsewhere in the letter, the board explained that the program would begin last Monday, May 20. By the time the letter was received on Friday, iris scans had already been completed at the three area schools without a single student opting out, Angel Clark wrote for The Examiner this week.

Please feel free to chime in and explain to me in fine detail how this protects the safety of children..

Monthly & Annual Retail Trade

http://www.census.gov/retail/


When two weeks ago we reported on the core retail sales "beat", we were surprised. Here's why: "Retail sales ex autos were in line with expectations at -0.1%, on expectations of a -0.2% print, but it was the sales number ex-autos and gas which surprised the most, rising 0.6% on expectations of a +0.3% increase, up from a -0.1% decline." We are no longer surprised. Reuters has the answer:

• US APRIL RETAIL SALES EX-AUTOS/GASOLINE REVISED TO +0.2 PCT (PREV +0.6 PCT)

Via: Zero hedge

Outlook for Medicare finances improves modestly

Outlook for Medicare finances improves modestly

The outlook for Medicare's finances has improved modestly, trustees of the entitlement program said in a report Friday, with its hospital insurance trust fund expected to be exhausted in 2026, two years later than was estimated a year ago. Trustees said the improvement was due among other things to lower projected hospital insurance spending, especially for skilled nursing facilities. The outlook for Social Security, meanwhile, was unchanged from last year, with trustees projecting that all reserves would be exhausted by 2033. If the trust funds are exhausted, benefits would be cut but not stopped altogether, since Social Security and Medicare are mostly funded through payroll taxes. 

Mar Canadian budget balance -6.51bn vs 1.60bn prior

• Prior revised to -8.96bn
• Year to date -18.32 vs -11.80bn. Revised to -21.59bn

Obama urges action to keep student loan rates low

Obama urges action to keep student loan rates low

President Barack Obama on Friday urged Democrats and Republicans in Congress to work together to keep student loan interest rates from doubling on July 1. There are several proposals on Capitol Hill for keeping rates low, but none have garnered bipartisan support. Earlier this month, the House of Representatives passed a Republican bill that would base interest rates on student loans on the 10-year Treasury note. In his brief remarks, Obama did not dwell on specific disagreements. The White House has threatened to veto the House measure. The bill does not set out a fixed single rate for the loan throughout its lifetime and does not include a guarantee that student borrowers don't have to pay more than 10% of their monthly income on repayment after graduation. Last summer, Congress passed a bipartisan measure to delay the interest rate increase for one year. Lawmakers said the two sides are not far apart.

This from the same guy who raised our taxes...Its for the children as you know.

Record unemployment, low inflation underline Europe's pain | Reuters

Record unemployment, low inflation underline Europe's pain
| Reuters

Thousands of demonstrators from the anti-capitalist Blockupy movement cut off access to the ECB in Frankfurt on Friday to protest against policymakers' handling of Europe's debt crisis.
Some economists believe the ECB, which meets on June 6, will have to go beyond another interest rate cut and consider a U.S.-style money printing program to breathe life into the economy.
"We do not expect a strong recovery in the euro zone," said Nick Matthews, a senior economist at Nomura International in London. "It puts pressure on the ECB to deliver even more conventional and non conventional measures."
In the past, the euro zone has needed economic growth of around 1.5 percent to create new jobs, according to Carsten Brzeski, an economist at ING. With the Organisation for Economic Cooperation and Development forecasting this week that the euro zone economy would contract by 0.6 percent this year, unemployment is set to worsen long before it turns around.
"We do not see a stabilization in unemployment before the middle of next year," said Frederik Ducrozet, an economist at Economist at Credit Agricole in Paris. "The picture in France is still deteriorating."

Euro @ 1.30 or close to it is a running  joke....1.20 is in the cards or less...

Weak income growth holding back consumer spending

Sober Look: Weak income growth holding back consumer spending

As discussed previously, economists maintain that in spite of the slowdown in manufacturing, the US consumer should provide the necessary lift to improve growth. According to the theory, with consumer confidence improving, the spending should follow. But that's not exactly what happened. While consumer spending is up on the previous year, the growth in spending has moderated to the lowest level in three years.

UMich consumer confidence reading tops expectations

http://www.marketwatch.com/story/may-umich-sentiment-highest-since-2007-2013-05-31?link=MW_home_latest_news

The final May reading of the University of Michigan and Thomson Reuters consumer-sentiment index jumped to 84.5 - the highest level since July 2007 - from 76.4 in April, according to news reports. A preliminary May reading pegged the gauge of 83.7. Economists polled by MarketWatch had expected a final May reading of 83.8

St. Louis Fed: NationalEconomicTrends May 2013

See esp. btm pg 8 & 9

USD 83.50 within our range call at the moment

One upbeat data point and the US dollar soars across the board.
That shows to me that the last two days of US dollar selling were a correction, not a change in trend.

May Chicago PMI 58.7 vs 50.0 exp

Full report at:

https://www.ism-chicago.org/chapters/ism-ismchicago/files/ChicagoPMI-13-05.pdf

May Chicago PMI 58.7 vs 50.0 exp

• Prior 49.0
• New orders 58.1 vs 53.2 prior
• Production 62.7 vs 49.9 prior
• Prices paid 55.3 vs 51.0 Prior
• Employment 56.9 vs 48.7 prior

USD

Now that the weak hands have been shaken out forward we go. I am looking for a close of 83.49 - 83.52 anything above that is a plus...

Vital Signs Chart: Americans Saving Less

http://blogs.wsj.com/economics/2013/05/31/vital-signs-chart-americans-saving-less/?mod=WSJBlog

Americans are socking away less. The personal saving rate—which reflects how much people have left after spending and taxes—fell to 2.3% in the first quarter from 3.6% a year earlier. The rate leapt late last year when fiscal-cliff concerns led some firms to give bonuses early, but it has slid as consumers have spent more despite their incomes being crimped by higher taxes.

 

 

The Liberal failure in one chart...

A portrait of European policy failure

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100024744/a-portrait-of-european-policy-failure/

There are now 19.4 million registered unemployed in Euroland and 26.6 million in the EU as a whole. There are 5.6m youths below the age of 25 looking for jobs.
Frankly, I have nothing further to say on this. The chart below contrasts EMU policy failure with the US and Japan.

We have a lot in common Euroland...

Real estate bubble? Hogwash, say industry watchers

Real estate bubble? Hogwash, say industry watchers

“When the price of housing gets so high that an average family can't afford to buy a house, that's a bubble,” he said. “Right now, mortgages are lower than rents in most places, and the average family can afford two homes, based on affordability measurements.”

Well, that's good news. I'll tell my wife that not only can we afford the house we currently own, but we can now afford TWO!

Fed's Pianalto wants more open regulatory process

http://www.marketwatch.com/story/feds-pianalto-wants-more-open-regulatory-process-2013-05-31?link=MW_latest_news

Greater transparency will help the Federal Reserve ensure financial stability, said Cleveland Fed President Sandra Pianalto on Friday. "I believe that providing enhanced information about financial firms and clearer expectations for the future actions of financial regulators can...make our financial stability policies more effective," Pianalto said in a speech to a conference here on market regulation. For instance, the Cleveland Fed president suggested regulators could provide the public more information about the quality of bank assets, including the geographic distribution of a firm's loans. Regulators should also press forward on living wills for banks and other non-bank firms, Pianalto said

Real Disposable Personal Income

Real Disposable Personal Income, Percent change from year ago, quarterly data

http://research.stlouisfed.org/publications/net/page12.pdf

 ...real income, savings & consumption:

http://research.stlouisfed.org/publications/net/page13.pdf


Yet the Banks are doing just fine....

 Banks report record earnings of $40.3 billion in the first quarter - The Washington Post

Profits at the nation’s banks topped $40.3 billion in the first three months of the year, the largest quarterly total on record and evidence of the industry’s robust recovery, the Federal Deposit Insurance Corp. said Wednesday.
The record earnings underscore the trend of borrowers keeping up with their loan payments, allowing banks to move more money out of rainy-day funds. Banks have tapped these reserves to boost profits as low interest rates have made it difficult for them to make money on loans. Funds set aside to cover losses on troubled loans, or loan-loss provisions, dropped 23 percent from a year ago to $11 billion, the lowest level since the first quarter of 2007. At the same time, lenders charged off $16 billion in debt they could not collect, down 27.7 percent from a year earlier.

 Get to work Serfs...

How Treasury's Tax Loophole Mistake Saves Companies Billions

How Treasury's Tax Loophole Mistake Saves Companies Billions

The story of the "check the box" loophole, which allows U.S. companies to choose for themselves how to classify their subsidiaries for tax purposes, and a companion policy known as the "look-through" rule, shows how Washington bureaucrats, lobbyists and politicians have worked together—sometimes wittingly—to save money for American corporations and deprive the federal government of billions in tax revenue each year.
What began in 1996 as an effort by the Treasury Department to simplify the U.S. tax code mistakenly ended up as a massive tax loophole for corporate America, which seized upon it and has never let go.

Mistake? Yeah, right.

U.S. consumer spending drops 0.2% in April

U.S. consumer spending drops 0.2% in April

Consumer spending in the U.S. fell in April by the sharpest amount in almost a year, likely because of slightly softer car sales and less demand for energy. Spending dropped 0.2% last month on a seasonally adjusted basis, the Commerce Department said Friday. And the increase in spending for March was revised down to 0.1% from 0.2%. Personal income, meanwhile, decreased "less than 0.1%" in April after a revised 0.3% gain in March, mostly because of lower rents and farm-related earnings. Wages rose slightly. Economists surveyed by MarketWatch had forecast a 0.1% decline in consumer spending in April and a 0.2% increase in personal income. The personal savings rate held steady at 2.5% and remains near a five-year low. Inflation as gauged by the core PCE price index increased less than 0.1% in April, and it's up just 1.1% in the past 12 months. That's the lowest level since March 2011 and just a notch above an all-time low. Overall PCE declined by 0.3% and is up a meager 0.7% in the past year. That's the lowest rate since October 2009

• Prior 1.1%
• m/m Core PCE 0.0% vs 0.1% exp. Prior 0.0%
• Personal income 0.0% vs 0.1% exp m/m. Prior 0.2%
• Personal spending 0.0% vs 0.0% exp. Prior 0.2%

Lol buy housing ...

The cost of a burger over 30 years

http://www.usatoday.com/story/news/nation/2013/05/30/beef-prices-historic-highs/2369847/

Since 1984, the price of ground beef has spiraled from $1.29 per pound to a record-breaking $3.51 this past Memorial Day. The continuing drought in the Midwest has dwindled herds to levels not seen in six decades, forcing the prices of beef to spike to their current levels. Here's a look at how droughts historically have affected the retail price in that time period.

The Shortest Housing Boom

http://viableopposition.blogspot.ca/2013/05/the-shortest-housing-boom.html

These recent price increases have some of the bobbing heads on the 24 hour business/news providers practically apoplectic.  Some metro areas are now showing what could be termed rather frothy rises; Phoenix saw a year-over-year positive return of 22.5 percent, San Francisco saw an increase of 22.2 percent, Las Vegas saw an increase of 20.6 percent, Atlanta saw an increase of 19.1 percent and Detroit saw an increase of 18.5 percent.  Las Vegas saw a month-to-month increase of 1.4 percent, a rather significant jump.  Keep in mind that these cities were terribly hard-hit during the decline, however, there is really no particular economic reason why their prices have rebounded as they have.  This certainly has the appearance of a mini-bubble, doesn't it?

Trying to revive the madness of the 90's and mid 00's is futile.  The unemployment situation is totally different than it was during those years, today many folks are out of work or just getting by on PT work. I seriously doubt these people  desire to upgrade or start flipping houses again for a profit, I just don't see it. Lets build our economy again and worry about housing last. Beside the so called Affordable Healthcare will be another added expanse for many households, yes I can see the frenzy now...Not.

CNET Founder Minor Files for Bankruptcy After Selling Art - Bloomberg

CNET Founder Minor Files for Bankruptcy After Selling Art - Bloomberg

Minor, 47, who sold CNET Networks Inc. (3549162Q) to CBS Corp. (CBS) in 2008, says he owes as much as $100 million and only has, at most, $50 million to pay his debts thanks to bad bets on real estate and other ventures that took him out of what he calls his technology comfort zone.

Nice leverage...Owe the bank $100,000 your problem, owe the bank $100,000,000 banks problem.

Sleep on it

14-year-old put in chokehold by police, charged with felony after giving police ‘dehumanizing stares’

http://endthelie.com/2013/05/29/14-year-old-put-in-chokehold-by-police-charged-with-felony-after-giving-police-dehumanizing-stares/#axzz2UoocZTbu

A 14-year-old was reportedly choked by Miami-Dade police and charged with a felony count of resisting arrest with violence and disorderly conduct, all for giving police “dehumanizing stares,” clenching his fists and appearing threatening.
Unfortunately, it’s not all that rare for teens to be brutalized or even killed by police in the United States. There also seems to be something about police in Florida being especially violent for no apparent reason as they were when they beat a 66-year-old and when they murdered Nick Christie.
The incident occurred on Haulover Beach in Miami, Florida on Memorial Day morning after police said they saw Tremaine McMillian slamming another teenager on the sand.
“They told him that behavior was unacceptable,” Miami-Dade Police Detective Alvaro Zabaleta said to CBS Miami. “He walked away and officers followed him. They asked where his parents were. He said he was not going to take them to them.

Bottom line record and sue, hit these Heroes in the wallet.

Ignore my “dehumanizing stare,” I blame the Coffee...

On June 3, President Barack Obama will sign the U.N. Arms Trade Treaty (ATT)

http://www.breitbart.com/Big-Government/2013/05/29/Obama-To-Sign-International-Gun-Control-Treaty-On-June-3rd

The ATT passed in the U.N. General Assembly by a vote of 153-4 on April 2.
This treaty is ostensibly aimed at putting an end to gun trafficking across international boundaries, and both Breitbart News and the NRA have argued that it will eventually require an international gun registry in order to be enforceable. 
The ATT also provides the executive branch of our government with broad powers for controlling which guns do and don't come into the country, and includes ambiguous language that a gun-control-friendly administration can use to its advantage.
Even though Obama will sign this treaty, it is not enforceable in the U.S. until the Senate ratifies it by a two-thirds majority. 

Correction Mr. President, the United States of America  is not a Democracy, we are and remain a Constitutional Republic.

Homeland Security Ammo purchase in March to be delivered in Artesia, New Mexico.

Homeland Security Ammo purchase in March to be delivered in Artesia, New Mexico.

45 Long Colt 250 gr JHP 4,000 rounds (This caliber weapon is not issued to any branch of gov't.)

45 ACP 230 gr JHP 20,000 rounds

22 long rifle 40,000 rounds (This caliber weapon is not issued to any branch of gov't.)

30-30 160gr 4,680 rounds (This caliber rifle is not issued to any branch of gov't.)

12 Ga #8 shot 20,000 rounds

410 Ga # 9 shot 10,000 rounds (This gauge shotgun is not issued to any branch of gov't.)

357 180 gr JHP 6,000 rounds

7.69 X 39 (must be a typo should have been 7.62X 39 123 gr 5,000 rounds) This round is for an AK-47. Does DHS have AK 47's now?

Marines train to guard ammunition supply point with shotguns

http://www.2ndmlg.marines.mil/News/NewsArticleDisplay/tabid/3874/Article/143586/marines-train-to-guard-ammunition-supply-point-with-shotguns.aspx

 More than 50 Marines attached to Combat Logistics Battalion 6, 2nd Marine Logistics Group qualified with M-1014 Joint Service Combat Shotguns here, May 22.

Although many of the service members came from different units, they have the same mission: protect Marine Corps munitions.

“Marines who guard ammunition have to use shotguns,” said Staff Sgt. Joseph J. Giacomelli, an ammunition technician with Ammunition Company, 2nd Supply Battalion, 2nd MLG and the primary marksman instructor for the event. “The low velocity of the [shotgun rounds] won’t detonate ammunition if it hits it. [High-speed projectiles] from rifles can set off the explosives, and we wouldn’t want that.”

The Marines are scheduled to deploy to Afghanistan in the near future. They are expected to stand watch and protect the ammunition for the troops in their area of operation.

Squid Minion to Avoid Prosecution for Influence Peddling: $100K

Via: Reuters:

A former Goldman Sachs Group Inc. investment banker has agreed to a five-year securities industry ban and a record fine to settle U.S. Securities and Exchange Commission charges that he broke rules against influence peddling to win bond underwriting business in Massachusetts.
Without admitting or denying wrongdoing, Neil Morrison, 38, accepted what the SEC said was the first industry ban for violating “pay-to-play” rules governing the $3.7 trillion municipal bond market.
He also agreed to a $100,000 civil fine, which the SEC called the largest individual penalty in such a case.
Thursday’s settlement was announced eight months after Goldman struck its own $12 million settlement with the SEC over the case, which involved contributions to the 2010 gubernatorial campaign of then-Massachusetts State Treasurer Timothy Cahill.
Pay-to-play refers to the providing of cash or other contributions to public officials in exchange for political favors or the awarding of contracts.

MetLife Cuts 2,500 Advisers Seen Lacking Chance of Success

http://www.businessweek.com/news/2013-05-30/metlife-cuts-2-500-advisers-seen-lacking-chance-of-success

MetLife Inc. (MET), the largest U.S. life insurer, cut its adviser force by a third, eliminating 2,500 jobs as the company scales back variable annuity sales and turns to other nations for growth.

MetLife has about 5,000 advisers who sell insurance and investment products, down from 7,500 in February of 2012, Eric Steigerwalt, head of MetLife’s U.S. retail business, said at a May 21 investor day presentation. The New York-based firm lowered the number of agencies to about 60, from 85, he said.
“We’re not financing advisers who, frankly, were never going to make it in this business,” Steigerwalt said. “Our productivity is way up and we’re saving a lot of money.”
MetLife has said U.S. units should contribute 60 percent of Chief Executive Officer Steven Kandarian’s targeted $600 million in expense cuts as he seeks growth in emerging markets such as Chile and Turkey. Kandarian plans to cap variable annuity sales at $11 billion this year, compared with $28.4 billion in 2011, after low interest rates pressured returns on the retirement products, which can guarantee minimum returns for clients.

Panasonic to cut 5,000 workers from automotive and industrial division

 http://www.reuters.com/article/2013/05/30/us-panasonic-jobs-idUSBRE94T03920130530

The division, which covers automotive components, semiconductors, production machinery and other devices, employs 110,000 people, around a third of Panasonic's workforce. The business is at the forefront of Tsuga's strategy to shift Panasonic away from consumer electronics to building gadgets and machinery it sells to other companies.
"A reduction in labor costs will be a big part of our plan to improve profitability," Yoshihiko Yamada, the head of the automotive and industrial division said during a presentation to analysts and investors in Tokyo

 I'm sure all these folks will be out shopping and flipping real estate real soon. ( I kid of course )

ACLJ Announces Official Lawsuits from 25 Conservative Groups Against the IRS

http://www.theblaze.com/stories/2013/05/29/aclj-announces-official-lawsuits-from-25-conservative-groups-against-the-irs/ 

The scandal plaguing the IRS has just taken another twist as the agency is being hit with lawsuits filed in district court by the American Center for Law and Justice (ACLJ) on behalf of many groups who claim they been unfairly targeted by the tax agency.

ACLJ’s Chief Counsel Jay Sekulow announced this morning that he was filing “an inch-thick” complaint from 25 groups. Sekulow also believes that original complaint will be amended next week to “add another dozen or so groups.”

Conservatives...I snicker.

Like your health care policy? You may be losing it

http://www.wral.com/like-your-health-care-policy-you-may-be-losing-it/12495128/

Many people who buy their own health insurance could get surprises in the mail this fall: cancellation notices because their current policies aren't up to the basic standards of President Barack Obama's health care law.
They, and some small businesses, will have to find replacement plans — and that has some state insurance officials worried about consumer confusion.
Rollout of the Affordable Care Act is going full speed ahead, despite repeal efforts by congressional Republicans. New insurance markets called exchanges are to open in every state this fall. Middle-class consumers who don't get coverage on the job will be able to pick private health plans, while low-income people will be steered to an expanded version of Medicaid in states that accept it.

I Was a Liberal Mole at FOX News

http://www.salon.com/2013/05/29/i_was_a_liberal_mole_at_fox_news_from_bill_oreilly_to_roger_ailes_heres_all_the_inside_dope/

People would often ask me about how Fox pushes a message.
And I would always tell them the message isn’t so much pushed as it is pulled, gravitationally, with Roger Ailes as the sun at the center of the solar system; his vice presidents were the forces of gravity that kept the planet-size anchors and executive producers in a tight orbit; then all the lesser producers and PAs were moons and satellites and debris of varying sizes.
An organizational flow chart at Fox would be tough to draw up, as title alone was not the ultimate signifier of status. Sometimes the anchors outranked their executive producers, as was the case with “The O’Reilly Factor.” (In fact, Bill had procured an EP title for himself, but he outranked the two other EPs on the show, both Stan, who oversaw TV, radio, and the website, and Gayle, who focused on television and also served as a fact-checker.) Sometimes the anchors were relatively weak — as was the case with a lot of weekend shows, and maybe some of the newswheel hours — and a strong senior producer or producer outranked, or at least pretended to outrank, the host. (For example, Lizzie from “The Lineup,” who was only a producer but was tough enough that she probably could have bossed around Ailes himself had she been left alone in a room with him for more than five minutes.)

Wow, Sun-Times Lays Off ALL Its Photographers

http://t.co/bn7fzY6B0A

In a statement, the Sun-Times said the layoffs were due to a new focus "on bolstering our reporting capabilities with video and other multimedia elements." The wife of one of the laid-off photographers claimed on Twitter that this means Sun-Times reporters are being asked to use their smartphones to get pictures, while the Tribune reports that the paper will use only freelance photographers from now on. The whole truth probably lies somewhere in the middle, as more professional newsmakers are forced to confront the question of whether simply owning an iPhone and some hip filters can turn anyone into a decent photographer.

Spotlight on the economy: Consumer spending may have dropped

http://blogs.marketwatch.com/election/2013/05/30/spotlight-on-the-economy-consumer-spending-may-have-dropped/

At 9:45 a.m., the Chicago PMI for May will be released, the last regional manufacturing gauge before the national Institute for Supply Management national manufacturing survey due next week. The Chicago PMI is seen reaching 49.9, an improvement off the 3.5-year low posted in April but below the 50-mark indicating expansion.
The final reading of the University of Michigan’s consumer sentiment survey for May is expected to edge up to 83.8, marking the best level in more than six years.
Cleveland Fed president Sandra Pianalto is the only speaker on the docket, due to speak at 8:45 a.m. on financial stability. Looking further ahead, there are three Fed speakers this weekend: the Minneapolis Fed’s Narayana Kocherlakota on Saturday, and then the central bank’s two heaviest hitters, Chairman Ben Bernanke and Vice Chair Janet Yellen, on Sunday.

But hey Housing is in a Frenzy right?  Print money or drown, bottom line.

It’s official: Housing has recovered - Jeff Reeves's Strength in Numbers - MarketWatch

It’s official: Housing has recovered - Jeff Reeves's Strength in Numbers - MarketWatch

S&P/Case-Shiller released its Home Price Indices for the first quarter of 2013 this week, and the numbers blew the doors off — again. This was the 10th consecutive month with a year-over-year gain, with the 10-city metro index, the 20-city metro index and even the nationwide index all tacking on double digit gains. It was also the largest year-over-year increase for the for the Composite 20 index of 20 since 2006 with metro areas Charlotte, Los Angeles, Portland, Seattle and Tampa recorded their largest month-over-month gains in over seven years. 

Too Big To Jail

Documents Show Obama Officials in Tension Over British Banks - NYTimes.com

But in Washington, some discussions have taken a more hostile tone as the Justice Department faces scrutiny for not indicting HSBC.
The Justice Department has explained that it follows guidelines requiring prosecutors to weigh indictments of businesses with “collateral consequences” like job losses and, in the case of big banks, a threat to the economy. And in a recent letter to Congress, the department explained that it has “contacted relevant government agencies to discuss such issues,” including federal regulators.

 

Disability trust fund about to run dry - May. 30, 2013

Disability trust fund about to run dry - May. 30, 2013

But some argue that Americans are abusing the system. It's too easy to get into the program and too easy to stay in it these days, they say.

Afternoon funny

SIGTARP

SIGTARP is concerned that the number of homeowners who have redefaulted
on a HAMP permanent mortgage modification is increasing at an alarming rate.
Treasury’s data shows that the longer a homeowner remains in HAMP, the more
likely he or she is to redefault out of the program. As of March 31, 2013, the oldest
HAMP permanent modifications, from the third and fourth quarter of 2009, are
redefaulting at a rate of 46.1% and 39.1%. HAMP permanent modifications from
2010 also had high redefault rates, ranging from 28.9% to 37.6%.

http://www.sigtarp.gov/Quarterly%20Reports/April_24_2013_Report_to_Congress.pdf

Treasury sells $29 bln in 7-year debt at 1.496%

1. Bidders offer $2.70 for each $1 in 7-yr debt sold
2. Treasury sells $29 bln in 7-year debt at 1.496%
   Indirect bidders buy 40.8% of 7-year note auction
   
   Fail....see how the market reacts  once this sets in...

GoldSeek.com TV Interviews David Morgan: Once in a Lifetime Opportunity - Silver / Gold Miners are a better value than the metals, Big Silver Move Still Ahead

http://www.silverseek.com/commentary/goldseekcom-tv-interviews-david-morgan-once-lifetime-opportunity-silver-gold-miners-2013

Seduced by silver at the tender age of 11, David Morgan started investing in the stock market while still a teenager.
A precious metals aficionado armed with degrees in finance and economics as well as engineering, he created the Silver-Investor.com website and originated The Morgan Report, a monthly that covers economic news, overall financial health of the global economy, currency problems, and the key reasons for investing in precious metals.

David considers himself a big-picture macroeconomist whose main job as education—educating people about honest money and the benefits of a sound financial system—and his second job as teaching people to be patient and have conviction in their investment holdings.
A dynamic, much-in-demand speaker all over the globe, David’s educational mission also makes him a prolific author having penned "Get the Skinny on Silver Investing" available as an e-book or through Amazon.com.

Father Of Florida Man Connected To Tsarnaev: FBI Killed My Son ‘Execution-Style’

The father of a Chechen immigrant killed while being interrogated by the FBI about his ties to a Boston Marathon bombings suspect says agents killed his son “execution style,” reports AP. There was even a shot to the back of the head.

At a press conference Thursday in Moscow, Abdul-Baki Todashev showed journalists 16 photographs he said were of his son, Ibragim, in a Florida morgue. He said his son had six gunshot wounds to his torso and one to the back of his head and the pictures were taken by his son’s friend, Khusen Taramov.

WESH-TV is reporting that unidentified FBI sources now say that Todashev was unarmed.

Half of Americans below or near poverty line - Salon.com

Half of Americans below or near poverty line - Salon.com

1. Almost half of Americans had NO assets in 2009 
Analysis of  Economic Policy Institute data shows that Mitt Romney’s famous  47 percent, the alleged ‘takers,’ have taken nothing. Their debt exceeded their assets in 2009.
2. It’s Even Worse 3 Years Later 
Since the recession, the disparities have continued to grow. An  OECD report states that “inequality has increased by more over the past three years to the end of 2010 than in the previous twelve,” with the U.S. experiencing one of the widest gaps among OECD countries. The 30-year  decline in wages has worsened since the recession, as low-wage jobs have replaced formerly secure middle-income positions.
3. Based on wage figures, half of Americans are in or near poverty. 
The IRS reports that the highest wage in the bottom half of earners is about $34,000. To be eligible for food assistance, a family can earn up to  130% of the federal  poverty line, or about $30,000 for a family of four.

Ben keep pumping that $85B/mo for the 2% that oBama approves

French jobseekers numbers

French jobseekers numbers are due at the top of the hour but an early indication has leaked out early.
French newspaper Les Echos published comments from source saying the numbers saying jobless claims rose by more than 40,000 compared to 30,000 expected. If true, it’s the largest monthly rise since at least January.
The story hit the French press a few hours ago and it hasn’t slowed the euro so far.

Ferocious Battle Underway Over Syrian Border City

Voice of America reports:

A ferocious battle is underway in the Syrian city of Qusair near the border with Lebanon between government forces bolstered by Lebanese Hezbollah guerrillas and anti-government rebels led by militiamen linked to al-Qaida, according to anti-government activists.

Government warplanes carried out several bombing raids on Qusair throughout Wednesday and Hezbollah rushed in reinforcements in an attempt to dislodge the rebels from Qusair, a strategic city on the main highway into central Lebanon, through the Bekaa Valley and on to Beirut.

Members of Hezbollah have become key battleground allies of Syrian President Bashar al-Assad. Both follow the Shiite sect of Islam and both are closely allied with Shiite Iran. Most of the rebels are Sunnis.

Clashes between Hezbollah and rebel forces led by Al Qaeda-linked fighters belonging to the Jabhat al-Nusra raged in many districts of Qusair. The bloodiest battles were centered in the northern districts of the city, where Hezbollah militiamen have been unable to dislodge Syrian rebels. Anti-government activists said the rebels had made headway in pushing back Hezbollah on the west side of the city.

Hezbollah spokesman Ibrahim Moussawi conceded that the north of Qusair was proving the hardest to subdue. “It is very hard and difficult to take. There are snipers everywhere. This will cost us but we'll take it,” Moussawi said.

Imprisoned CIA Torture Whistleblower John Kiriakou Pens “Letter from Loretto”

FireDogLake reports:

Former CIA agent John Kiriakou, who blew the whistle on the US government’s use of torture under the Bush administration, is currently serving a 30 month sentence at the Federal Correctional Institution in Loretto, Pennsylvania. Below is a letter he recently sent us detailing his life in prison.

Fascinating reading, here.

High-End Health Plans Scale Back to Avoid ‘Cadillac Tax’

http://www.nytimes.com/2013/05/28/business/cadillac-tax-health-insurance.html?pagewanted=1&_r=2&ref=politics

Expect to have your blood pressure checked or a prescription filled at a clinic at your office, rather than by your private doctor.

Then blame — or credit — the so-called Cadillac tax, which penalizes companies that offer high-end health care plans to their employees.

While most of the attention on the Obama administration’s health care law has been on providing coverage to tens of millions of uninsured Americans by 2014, workers with employer-paid health insurance are also beginning to feel the effects. Companies hoping to avoid the tax are beginning to scale back the more generous health benefits they have traditionally offered and to look harder for ways to bring down the overall cost of care.

Federal mortgage modification program extended

http://www.marketwatch.com/story/federal-mortgage-modification-program-extended-2013-05-30?link=MW_home_latest_news

A federal program that helps troubled homeowners receive modified mortgages is being extended by two years, and will run to the end of 2015, administration officials said Thursday. The extension of the Making Home Affordable Program, which includes the Home Affordable Modification Program, follows a two-year extension of a government refinancing program. "The housing market is gaining steam, but many homeowners are still struggling," said Treasury Secretary Jacob Lew. "Helping responsible homeowners avoid foreclosure is part of our wide-ranging efforts to strengthen the middle class." As of March, more than 1.1 million homeowners have received a permanent mortgage modification through HAMP. However, HAMP has come under fire for high default rates and fewer-than-expected modification

Obama approval rating slips slightly in poll

Obama approval rating slips slightly in poll

The same poll also found overwhelming support for appointing a special prosecutor to investigate the IRS case – something that Obama has rejected. A total of 76% of respondents said there should be an independent special prosecutor, versus 17% who said there shouldn’t be. Democrats favor a special prosecutor by about two to one.
Obama’s approval rating is higher in the latest RealClearPolitics average of polls, though it’s even with his disapproval rating. In the average of polls taken May 16 through 28, approval of the president’s job performance is 48.4% compared to 48.3% disapproval. The RealClear average includes the latest Quinnipiac poll.
Voters who said that congressional criticism of the Obama administration’s handling of the terrorist attack in Benghazi, Libya amounted to “playing politics” outnumbered those who said it was a legitimate concern. But more voters agreed than disagreed that the IRS’s targeting and the Justice Department’s seizure of reporters’ phone records raised legitimate concerns.

 Did they poll the low information types? well of course they did. In all my 47 year I never recall being polled once, nice to have people abroad who think for me :)

Goldman Sachs on rising Treasury yields: 'It's for real'

Goldman Sachs on rising Treasury yields: 'It's for real'

Strategists at Goldman Sachs GS +0.46%  haven’t taken the May bond selloff lightly. After all, they were the ones suggesting back in April that investors short the 10-year Treasury note 10_YEAR +1.75%  when it was trading at 1.79% (seems like so long ago, doesn’t it?). Now it’s trading at 2.14%.
That projection of rising Treasury yields, though not their first call to short the Treasury note, proved to be largely accurate. Now they are back at it, hammering in that the selloff is “for real”. Here’s what they say, per a Wednesday note:

Nut shell

• PCE inflation muted at 1.0% increase; core 1.3%
• Adjusted corporate profits decrease $43.8 billion
• Import growth revised to 1.9% from 5.4%
• Export growth revised to 0.8% from 2.9%
• ** Disposable income revised down to 7.5% decline
  **
• Inventory buildup revised down to $38.3 billion
• Final U.S. sales revised to 1.8% from 1.5%
• Consumer spending revised to 3.4% from 3.2%
• MarketWatch survey forecast 2.5% GDP
• U.S. first-quarter GDP revised to 2.4% from 2.5%
• U.S. continuing claims up 63,000 to 2.99 mln
• U.S. 4-week avg. claims up 6,750 to 347,250
• U.S. jobless claims up 10,000 to 354,000
• US Q1 corporate profits -1.9% vs 2.0% exp
  
  
  Canadian C/A Q1: CAD -14.09 bln vs -15.50 bln ex
  
  
   

First-quarter U.S. growth revised down to 2.4%

First-quarter U.S. growth revised down to 2.4%

The U.S. economy grew at a 2.4% annual pace in the first quarter, little changed from the originally reported 2.5% increase, the Commerce Department said Thursday. Economists polled by MarketWatch had expected growth to remain unchanged at 2.5%. Consumer spending was somewhat higher, while business investment and government outlays were revised down, according to the government's second assessment of gross domestic product. Consumer spending - the engine of the U.S. economy - was revised up to 3.4% from 3.2%. That's the fastest rate in two years. Yet business investment in commercial real estate fell sharply and companies did not increase inventories as much as previously believed. Inventories rose $38.3 billion instead of the previous estimate of $50.3 billion. Also, government spending fell by a revised 4.9% instead of 4.1%. In the trade category, export growth was revised down to 0.8% from 2.9% and import growth was reduced to 1.9% from 5.4%. Adjusted corporate profits, meanwhile, fell by $43.8 billion in the first quarter after a $45.4 billion increase in the fourth quarter. Inflation as measured by the PCE index was muted, rising just 1.0% overall or by 1.3% excluding food and energy. The GDP report will be refined through one further update next month.

Jobless claims jump 10,000 to 354,000

Jobless claims jump 10,000 to 354,000

First-time claims for state unemployment benefits rose more than expected in the latest week, the Labor Department reported Thursday. The number of initial claims in the week ending May 25 rose 10,000 to 354,000. The consensus forecast of Wall Street economists was for claims to rise 1,000 to 345,000. The four-week average rose 6,750 to 347,250. This is the highest level since the week ended April 20. Claims in the previous week were revised to a decrease of 19,000 to 344,000 compared with the initial estimate that they dropped 23,000 to 340,000.

Hungary destroys crops from Monsanto's

Hungary destroys crops from Monsanto's GM seeds

Hungary decided to eliminate all plantations using GMO seeds from Monsanto. According to the Minister of Rural Development Lajos Bognar, around 500 hectares of corn crops were burned this week - equivalent to five million square meters. The intention is that the country has no produce originating from genetically modified material.

According to the information portal Real Pharmacy yesterday (23 May), the cornfields that were destroyed were scattered around the Hungarian territory and had been recently planted. Thus, poisonous corn pollen was not about to be dispersed in the air, and so there was no danger to the population.

The Hungarians were the first to take a forceful position in the European Union in relation to the use of transgenic seeds. During recent years, the government of Hungary has destroyed several plantations of crops derived from Monsanto seed. Minister Bognar says the country's producers are required to ensure they do not use genetically modified seeds.

The European Union has a policy of free movement of products within the countries of the bloc. Thus Hungarian authorities cannot investigate how the seeds reach their territory. However, said Lajos Bognar, "That does not prevent us from investigating in depth the use of these seeds in our territory."

According to the Hungarian press, the country still has thousands of similarly affected acres. Also according to the [news] portal Portugal Mundial, farmers defended themselves against the charge of using genetically modified material. They claim they did not know that the seeds were Monsanto's.

Why is Soros Dumping His Position With Banks?

http://www.theblaze.com/stories/2013/05/29/why-is-soros-dumping-his-position-with-banks/

So what’s the deal? What does he know that we don’t?

There could be a simple and non-nefarious explanation: He may be simply turning a profit. Financial stocks have in the past year surged in value and now would be a good time to sell.

But to better understand the Great Soros Selloff, we turn to Rich Smith of The Motley Fool for a closer look.

“If you look at the performance of these stocks, I think it might be as simple as he’s taking profit,” Smith said. “JPMorgan shares are up 56 percent … Morgan Stanley shares are up 85 percent, Citigroup up 91 percent, [and] AIG up 51 percent.”

“It’s entirely possible that all Soros is really doing here,” Smith added, “he could simply be thinking, ‘I’ve made some profits. Why don’t I cash them in?’”

Capital flight continues as savers flee Cyprus banks

Capital flight continues as savers flee Cyprus banks

 Savers are continuing to desert Cypriot banks, according to monthly data published by the European Central Bank (ECB) on Wednesday (29 May).
Private bank deposits in Cypriot banks fell by 7.3 percent in April to €41.3 billion, on top of a 4 percent fall in March.
The continued flight of capital from Cyprus in April came in the aftermath of a clumsily agreed bailout in March which initially threatened to impose levies on almost all bank savings.
The first bailout package agreed by eurozone finance ministers in the Eurogroup would have imposed a 6.75 percent levy on all deposits worth between €20,000 and €100,000 - a clear breach of existing EU law which protects savings worth up to €100,000.

Japan cancels U.S. wheat order on GMO fear: report

Japan cancels U.S. wheat order on GMO fear: report

Japanese authorities have canceled a tender offer to buy wheat from the U.S., after unapproved genetically modified wheat was found in an Oregon field, Reuters reported on Thursday. Other major wheat importers South Korea, China and the Philippines also said they were monitoring the situation, after the find stirred concerns that the modified wheat could have made it to the marketplace, the report said. On Wednesday, the U.S. Department of Agriculture said it had conducted a genetic test on the wheat and found that it was an experimental type produced by Monsanto Co. MON -0.12% that hadn't been approved for sale. Shares of Monsanto were slightly lower in premarket trade.

Well?

Sleep on it.

Judge shopping

It reportedly took three tries before DOJ found a judge willing to go along with its plan to target Fox's James Rosen with tactics that included nabbing his phone records

The new documents show that two judges separately declared that the Justice Department was required to notify Rosen of the search warrant, even if the notification came after a delay. Otherwise: “The subscriber therefore will never know, by being provided a copy of the warrant, for example, that the government secured a warrant and searched the contents of her e-mail account,” Judge John M. Facciola wrote in an opinion rejecting the Obama Administration’s argument.
Machen appealed that decision, and in September, 2010, Royce C. Lamberth, the chief judge in the Federal District Court for the District of Columbia, granted Machen’s request to overturn the order of the two judges.

More Obama administration conspiracy fodder?

From the Washington Post:

A Chechen man who was fatally shot by an FBI agent last week during an interview about one of the Boston bombing suspects was unarmed, law enforcement officials said Wednesday. 

An air of mystery has surrounded the FBI shooting of Ibragim Todashev, 27, since it occurred in Todashev’s apartment early on the morning of May 22. The FBI said in a news release that day that Todashev, a former Boston resident who knew bombing suspect Tamerlan Tsarnaev, was killed during an interview with several law enforcement officers.

Remember how the initial story involved a knife?

Connecticut Gun Factory That Is Leaving The State In Protest.

Nice photo montage of production facility.

  CEO Josh Fiorini and his gun manufacturing company PTR Industries, are right in the center of the national gun control debate.
PTR makes clones of the HK-91 semi-automatic rifle and is located in Bristol, CT. Bristol is about 45 minutes north of Newtown, where 20 children and six of their teachers were shot to death last December.
The debate grew more heated recently, when Connecticut passed the strictest gun control law in the nation on April 4th. As a response to that law, on April 9th, PTR announced its plan to leave Connecticut in an open letter to the state.
When we asked Fiorini how he felt after learning about the shootings in Newtown, he told us, while the tragedy left him and his employees devastated, he ultimately feels manufacturers are not the problem.

Charley Reese, R.I.P.

By James Bovard

One of the nation’s best newspaper columnists passed away last week. Charley Reese was a beacon of light at the Orlando Sentinel from 1971 to 2001. He continued to write columns which were syndicated nationally through 2008, and his pieces provided readers with superb insights into the nature of the government and politics.

I never met him in person but he and I exchanged a few letters. He struck me as the incarnation of a thoughtful, considerate, Southern gentleman.

Here is a C-Span link to an interview that Brian Lamb conducted with Charley during the Bill Clinton impeachment circus.

http://www.c-spanvideo.org/program/WashingtonJournalFeature103

I especially appreciated Charley’s courage in labeling U.S. government abuses and foreign policy debacles. He had spent too many years dealing with hard facts to be swept away by the latest political mania. One of Charley’s classic columns has been bouncing around lately on the web and is reprinted below. (This version is from Snopes; other versions have floated around that included add-ins not written by Charley.)

Politicians, as I have often said, are the only people in the world who create problems and then campaign against them.

Read the rest here.

Why John McCain Went to Syria in Support of Lung-Eating Savages

By Justin Raimondo

When John McCain slipped into Syria the other day to meet with Islamist rebels, Sen. Lindsey Graham tweeted “best wishes” to his fellow warmonger and claimed “dibs on his office if he doesn’t come back.” Leave it to Sen. Graham, who has been agitatingalong with McCain for the US to send weapons to the rebels, to joke about the untrustworthiness of the very people he wants to arm. But the rebels’ savagery is no joke: we are, after all, talking about people who eat the lungs of their enemies.

Sen. Rand Paul (R-Kentucky) had it kind of right when he admonished the Senate Foreign Relations Committee after it voted for a bill that would arm Syria’s Islamist insurgents:

“This is an important moment. You will be funding, today, the allies of al Qaeda. It’s an irony you cannot overcome.”

And yet irony doesn’t quite cover it: insanity is more like it. Here is a man who is the Republican party’s voice when it comes to foreign policy, a role he has appropriated due to his intimacy with those who book the Sunday talk shows, and yet when it comes to America’s relationship with the rest of the world his utter and complete ignorance is appalling.

He told us the invasion and occupation of Iraq would be “fairly easy.” He pontificated that the anthrax attacks were delivered by the Iraqis. His preferred policy for Afghanistan: we should “muddle through,” rather than withdraw. When the North Koreans started acting out, he averred we ought to threaten them with “extinction.” And when Russia and the former Soviet republic of Georgia got into an armed conflict over the breakaway province of South Ossetia, McCain announced “Today, We Are All Georgians” and demanded we go to war with Moscow. He thinks Iran is training Al Qaeda: he also thinks Iraq shares a border with Pakistan.

In short, McCain doesn’t know s%^*t about foreign policy: he has been wrong, wrong, wrong about absolutely everything. So it isn’t merely ironic that he is leading the charge in demanding we intervene in Syria – it’s downright crazy.

Read the rest here.