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Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
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Category: Economy - Browse by Category - News - Analysis - Highlights - Multimedia - Latest Comments Page 2 Sunday July 5th, 2015

Thursday April 30th, 2015
Venezuela Rations Electricity, Blames Climate Change posted 04/30/2015, 7:04 AM (Breitbart)
[Category: Economy]
The Venezuelan government will begin rationing electrical supplies this week in response to high demand triggered by heat. Public employees will only have to work six hours a day until further notice, and police units will be sent to inspect private businesses to ensure they only use their allotted amounts. Venezuelan Vice President Jorge Arreaza blamed the measures on climate change.... (more)

Monday April 27th, 2015

The "Living Wage" Mistake posted 04/27/2015, 5:41 PM (Mises Institute)
[Category: Economy]
Much of the push to raise minimum wages centers on the assumption that each individual worker should be paid an amount that allows the worker to purchase food, health care, transportation, and housing based on that one wage alone. In many cases, the living wage claims extend to the claim that each worker — or two adult workers, in some cases — should be able to support a family of four or more.... (more)

Friday April 24th, 2015

Tax Freedom Day, 2015 posted 04/24/2015, 3:25 PM (The Beacon)
[Category: Economy]
The Tax Foundation announces "Tax Freedom Day" every year to mark the date on which the average U.S. taxpayer has earned enough income to pay in full all federal, state and local taxes owed. The date this year is today, Friday, April 24, 2015.

"Tax Freedom Day" is determined by taking the ratio of the estimated total tax burden imposed by governments at all levels ($4.8 trillion) to national income. Tha
... (more)

PayPal Now Allows Its Merchants to Accept Bitcoin Payments posted 04/24/2015, 3:25 PM (CoinSpeaker)
[Category: Economy]
PayPal, an online payment processing company owned by eBay Inc., said merchants registered with it may now accept payments in bitcoin.

In a filing with the U.S. Securities and Exchange Commission (SEC), the company said its platform “supports growth with a variety of value-added services designed to help businesses of all sizes manage their cash flow, invoice clients, pay bills, and reduce the need for merchants to receive and store sensitive customer financial information.”
... (more)

Thursday April 23rd, 2015

The Bankster War on Cash; JPMorganChase Begins to Prohibit the Storage of Cash in Its Safety Deposit Boxes posted 04/23/2015, 4:30 PM (Economic Policy Journal)
[Category: Economy]
Letters are apparently going out to some JPMoragnChase customers announcing that cash will be prohibited from being stored in the bank’s safety deposit boxes.

At the Collectors Universe message board, a commenter reports:
My mother has a SDB at a Chase branch with one of my siblings as co-signers. Last week they got a letter outlining a number of changes to the lease agreement, includin... (more)

Fourth MSNBC Host, Touré Owes 60k In Back Taxes posted 04/23/2015, 4:28 PM (National Review Online)
[Category: Economy]
Touré Neblett, co-host of MSNBC’s The Cycle, owes more than $59,000 in taxes, according to public records reviewed by National Review.

In September 2013, New York issued a state tax warrant to Neblett and his wife, Rita Nakouzi, for $46,862.68. Six months later, the state issued an additional warrant to the couple for $12,849.87.
... (more)

Covered California Shows ObamaCare Is Failure and Deception, All the Way Down posted 04/23/2015, 4:28 PM (Breitbart)
[Category: Economy]
Among the many reasons to resist the government takeover of health care, or any other industry, is that the public promptly loses its ability to analyze or criticize the problems that remain. The government will lie relentlessly to cover up its failures, power-worshiping media will help bureaucrats get away with it, and the people can’t really do anything about systemic problems anyway.

Transparency and competition are among the first casualties when coercive force is introduced i
... (more)

Faber: The Biggest Bubble Is Belief In Central Bankers posted 04/23/2015, 4:28 PM (
[Category: Economy]

Wednesday April 22nd, 2015

New York Apartments, Art Top Gold as Stores of Wealth, Says Fink posted 04/22/2015, 2:28 PM (Bloomberg)
[Category: Economy]
Gold’s traditional role as a store of wealth has been usurped by contemporary art and apartments in cities such as New York and London, according to Laurence D. Fink, head of the world’s biggest asset manager.

“Historically gold was a great instrument for storing of wealth,” the chairman of BlackRock Inc. said at a conference in Singapore on Tuesday. “Gold has lost its luster and there’s other mechanisms in which you can store wealth that are inflation-adjusted.”

... (more)

Traders Think 'Flash Crash' Arrest Is A Joke posted 04/22/2015, 2:26 PM (Business Insider)
[Category: Economy]
Traders we spoke with think the arrest of a 36-year-old UK-based trader for his alleged involvement in the 2010 "Flash Crash" is a total joke.... (more)

Tuesday April 21st, 2015

The Unconventional Ideas Of Marc Faber posted 04/21/2015, 1:26 PM (Forbes)
[Category: Economy]

Just before the Songkran festival marking the Thai new year, I met 69-year-old Marc Faber in his museum-like home office in Chiang Mai, Thailand.

After a brief greeting, as I was about to walk around inside the architectural masterpiece filled with Communism and Maoist artifacts, Faber asked me to take off my shoes.

“We ARE in Thailand, after all,” he grinned.
... (more)

Monday April 20th, 2015

EPA and CA Drought: State Flushed Over 1.2M Acre-Feet Of Water Into SF Bay To Help 'Endangered' Fish posted 04/20/2015, 1:51 PM (CNS News)
[Category: Economy]
From CNS News:
Since California Democratic Governor Jerry Brown imposed water restrictions on the state’s residents on April 1, people have suddenly become interested in what government officials have described as “one of the most severe drou... (more)

California Prepares For Historic Mandatory Cutbacks On Water posted 04/20/2015, 1:51 PM (Yahoo News)
[Category: Economy]
Californians are going to have to start preparing for a dry summer as the dehydrated state prepares for a water crackdown.

In a somewhat controversial move, California water officials drafted a set of mandatory conservation regulations outlining varying degrees to which communities will be required to cut back on water use, ranging from 8 to 36 percent, depending on their history of
... (more)

The Tax Code Grows Bigger posted 04/20/2015, 1:46 PM (MyGovCost)
[Category: Economy]
Over the past decade, Wolters Kluwer, the publishers of the CCH Standard Federal Tax Reporter, a leading publication for tax professionals that summarizes the administrative guidance and judicial decisions issued under each section of the U.S. tax code, has created an infographic to convey just how many pages it takes to explain the nation’s tax code to tax professionals. ... (more)

The Other 4/20: Peeking Through The Smoke Of America's Pot Industry posted 04/20/2015, 1:45 PM (ZeroHedge)
[Category: Economy]
There’s still one area in the vice economy that’s seeing robust gains: marijuana sales.... (more)

Sunday April 19th, 2015

Family Wins Back Seized Gold Coins That Could Be Worth $80M posted 04/19/2015, 2:20 PM (Associated Press)
[Category: Economy]
PHILADELPHIA (AP) -- A family was awarded the rights to 10 rare gold coins possibly worth $80 million or more on Friday after a U.S. appeals court overturned a jury verdict.

U.S. Department of the Treasury officials insist the $20 Double Eagles were stolen from the U.S. Mint in Philadelphia before the 1933 series was melted down when the country went off the gold standard. They argued that Joan Langbord and her sons cannot lawfully own the coins, which she said she found in a fami
... (more)

Friday April 17th, 2015

There Is No Real Increase In Insured Under Obamacare posted 04/17/2015, 12:05 PM (The Beacon)
[Category: Economy]
Gallup has released the full results of its first-quarter survey of health insurance. It concludes that the proportion of uninsured Americans has collapsed to the lowest level ever: 11.9 percent.

Only the people who have employer-based benefits can be said to be paying for their o
... (more)

Fee to Be Charged for Video of South Carolina Shooting, Publicist Says posted 04/17/2015, 12:02 PM (The New York Times)
[Category: Economy]
NORTH CHARLESTON, S.C. — The video of a North Charleston police officer shooting an unarmed man in the back will now cost news outlets that want to run it $10,000, according to a publicist representing the man who shot it.

Cease-and-desist letters went out this week to news outlets around the world from Markson Sparks, a publicity and celebrity management company based in Sydney, Australia.

The video, taken April 4, showed a North Charleston police officer, Michael
... (more)

Thursday April 16th, 2015

Americans Will Spend More On Taxes In 2015 Than They Will On Housing, Food, and Clothes [Pic] posted 04/16/2015, 11:01 AM (r/Anarcho_Capitalism)
[Category: Economy]

Land of the free...

Wednesday April 15th, 2015

Self-Interest Is Not Selfishness posted 04/15/2015, 9:24 AM (Mises Institute)
[Category: Economy]
Market relationships are constantly criticized as selfish or greedy, with rewards to selfishness rendering them ethically damaging. As Friedrich Hayek put it, “the belief that individualism approves and encourages human selfishness is one of the main reasons why so many people dislike it.” However, that charge is false.

Markets do involve self-interested people jointly advancing their goals, often without even knowing one another, but pursuing one’s self-interest is not the same a
... (more)

Employers Do Not Systematically and Persistently Pay Women Less than Men for Equally Valuable Work posted 04/15/2015, 9:24 AM (The Beacon)
[Category: Economy]
The quality of economic journalism in the United States is terrible. Day after day, journalists write about the causes and consequences of economic conditions and events without understanding the underlying economics of the situation, and their articles are, as a rule, simply bunk.... (more)

Tuesday April 14th, 2015

The Six Too Big To Fail Banks In The U.S. Have 278 TRILLION Dollars Of Exposure To Derivatives posted 04/14/2015, 10:55 AM (The Economic Collapse)
[Category: Economy]
The very same people that caused the last economic crisis have created a 278 TRILLION dollar derivatives time bomb that could go off at any moment. When this absolutely colossal bubble does implode, we are going to be faced with the worst economic crash in the history of the United States. During the last financial crisis, our politicians promised us that they would make sure that “too big to fail” would never be a problem again. Instead, as you will see below, those banks ha... (more)

Monday April 13th, 2015

FCC's Net Neutrality Rules Open Door To New Fee On Internet Service posted 04/13/2015, 9:41 AM (LA Times)
[Category: Economy]
Recently adopted net neutrality regulations soon could make your monthly Internet bill more complicated — and potentially more expensive.

Every month, consumers pay a small fee on their phone bills for a federal program that uses the money — a total of $8.8 billion raised nationwide last year — to provide affordable access to telecommunications services in rural areas, underserved inner cities and schools.

Now the fee could start appearing on broadband bills too, in
... (more)

Ben Bernanke's Latest Defense of the Fed's Failures posted 04/13/2015, 9:41 AM (Mises Institute)
[Category: Economy]
Fed officials have been busy lately spreading the view that incessantly low interest rates are symptomatic of a still-dim economic reality rather than a result of their own monetary experimentation. Indeed they are full of self-praise for not having been hasty to raise rates given the overwhelming evidence that the natural or neutral level is indeed very low. They even weep for the plight of the small saver.

But the tears are crocodile tears so long as the designers and implemente
... (more)

Friday April 10th, 2015

Bernanke's Courage To Print posted 04/10/2015, 7:19 AM (Austrian Markets)
[Category: Economy]

Ben Bernanke has a new book coming out and it turns out he saved the day after all.
Here's two other equally courageous political acts:

A. Calling 'Merica the "greatest country on earth."
B. Refusing to "apologize for Er'merica."

How Piketty Manufactured Rising Inequality in 6 Easy Steps posted 04/10/2015, 7:18 AM (The Freeman)
[Category: Economy]
Historian Phillip W. Magness is one of Thomas Piketty's most devastating critics. In his Freeman article "Picking Piketty Apart" (based on his research with fellow Freeman contributor Robert P. Murphy), Magness thoroughly refutes many of Piketty's core claims about the history of inequality in the United States.

His biggest criticism of th
... (more)

Thursday April 9th, 2015

The Costs of Hysteria: How Economists Are Misleading The Public On Climate-Change Policy posted 04/09/2015, 6:10 AM (The Freeman)
[Category: Economy]
Suppose the scientific consensus on climate change is right. Let’s also stipulate, for the sake of argument, that the computer projections used by the United Nations and the US government are correct, and that economists are able to translate those data into meaningful projections about costs and benefits to people living in the future with climate change.

Despite what the public has been led to believe, the situation is not a crisis at all — and certainly not something that deman
... (more)

The Fed Has No Intention To Raise Rates -- Marc Faber posted 04/09/2015, 6:06 AM (Kitco News)
[Category: Economy]

With the U.S. economic recovery being doubted by weaker economic data, and more and more market watchers expecting the Federal Reserve to make a move on rates at a later date, Kitco News speaks with Marc Faber, editor of the Gloom Boom & Doom Report, to find out what he has to say about it. "Given the dollar strength and that most recent economic statistics in the U.S. have been on the weak sid
... (more)

Wednesday April 8th, 2015

The Gender Wage Gap—A Myth that Just Won't Die posted 04/08/2015, 4:44 AM (The Beacon)
[Category: Economy]
This past year I was on the academic job market, applying for faculty positions at a variety of colleges and universities. As a woman making a critical career move, I've been up to my eyeballs in cover letters, resumes, statistics about cost of living, state income taxes, health insurance, and, of course, salary information.

Chances are you've heard the statistic on numerous occasions, "women earn 77 cents for every dollar a man earns--for exactly the same work." I certainly heard
... (more)

Tuesday April 7th, 2015

Venezuela Reaches the Final Stage of Socialism: No Toilet Paper posted 04/07/2015, 5:16 AM (Cato @ Liberty)
[Category: Economy]
In 1990 I went to a Cato Institute conference in what was then still the Soviet Union. We were told to bring our own toilet paper, which was in fact useful advice. Now, after only 16 years of Chavista rule, Venezuela has demonstrated that "Socialism of the 21st Century" is pretty much like socialism in the 20th century. Fusion reports: ... (more)

The Truth About Jobs In America (2015) posted 04/07/2015, 5:11 AM (Austrian Markets)
[Category: Economy]

This is a sick & completely backwards labor market. An in depth look at some data about the us labor force.

Wednesday April 1st, 2015

Does California Need Rain, Rationing, or Prices? posted 04/01/2015, 9:01 PM (The Freeman)
[Category: Economy]
California is in the midst of a crisis. Its gorgeous weather has turned against it as its fourth year of drought drags on. Looming water shortages are leading to calls for rationing and restrictions on water use. The state has one year of water left, and 35-year megadroughts ahead of it. The New York Times bleats, “Reservoirs are low. Landscapes are parched and blighted with field... (more)

Related: For First Time In History, California Governor Orders Mandatory Water Cuts Amid "Unprecedented, Dangerous Situation"

Access to Health Care Unchanged after Obamacare's First Year posted 04/01/2015, 8:59 PM (The Beacon)
[Category: Economy]
The Centers for Disease Control and Prevention (CDC) has released early estimates of health insurance and access to health care for January through September 2014. The National Health Insurance Survey (NHIS) is the most effective survey of health insurance, because it asks people three different but important questions: Are they uninsured at the time of the survey? Have they been uninsured for at least part of the year? Have they been... (more)

Our Current Illusion of Prosperity posted 04/01/2015, 8:59 PM (Mises Institute)
[Category: Economy]
President Obama and Fed Chair Janet Yellen have been crowing about improving economic conditions in the US. Unemployment is down to 5.5 percent and growth in 2014 hit 2.2 percent.

Journalists and economists point to this improvement as proof that quantitative easing was effective.

Pile on More Debt

Unfortunately, this latest boom is artificial and has been built by adding debt on top of debt. Total household debt increased 2.5 pe... (more)

The Stock Market In 2015 Is Starting To Look Remarkably Similar To The Stock Market In 2008 posted 04/01/2015, 8:59 PM (The Economic Collapse)
[Category: Economy]
Are we watching a replay of the last financial crisis?  Over the past six months, the price of oil has collapsed, the U.S. dollar has soared, and a whole bunch of other patterns that we witnessed just before the stock market crash of 2008 are repeating once aga... (more)

Eric Holder Issues New Asset Forfeiture Restrictions for Structuring Offenses posted 04/01/2015, 8:58 PM (Cato @ Liberty)
[Category: Economy]
Today Attorney General Eric Holder issued new guidelines to federal prosecutors tightening the rules for seizing assets for so-called "structuring" offenses.

Under the Bank Secrecy Act, structuring occurs when someone is suspected of arranging their financial transactions as to avoid triggering a report to the federal government by the financ
... (more)

Tuesday March 31st, 2015

Americans Must Work Jan. 1 Through April 24 Just to Pay Taxes posted 03/31/2015, 4:59 PM (CNS News)
[Category: Economy]
Tax Freedom Day will arrive this year on April 24 - 114 days into the year - according to a report from the Tax Foundation.

“Tax Freedom Day is the day when the nation as a whole has earned enough money to pay its federal, state, and local tax bill for the year,” explained the Tax Foundation. “Tax Freedom Day takes all federal, state, and local taxes and divides them by the nation’s income. In 2015, Americans will pay $3.28 trillion in federal taxes and $1.57 trillion in state and
... (more)

Picking Piketty Apart: The Superstar French Economist Tortures the Data to Fit His Narrative posted 03/31/2015, 4:59 PM (The Freeman)
[Category: Economy]
Thomas Piketty, the “rock star” French economist who dominated the news in late 2014, is trying to backpedal on the claims that made him famous. While he sticks with his core arguments about the nature of inequality, his new article in the American Economic Review has been widely interpreted as a tempering of the bolder claims in his bestselling Capital in the Twenty-First Century about the causes and consequences of economic i... (more)

Monday March 30th, 2015

Worse Than Zero: The American Tax Burden Exceeds One Hundred Percent posted 03/30/2015, 6:29 PM (ZeroGov)
[Category: Economy]
Taxation is theft and the acquisition of other people’s resources with a velvet glove backed by a mailed fist. It is simply one of the many ways in which the state brutalizes and impoverishes its tax cattle on a daily basis. Despite the government-media complex insistence that the tax rate in America is tolerable if not fair, anything above zero is morally wrong if the robbed don’t agree implicitly and consensually to the mugging for whatever fantastic services the state proclaims it provides.... (more)

Friday March 27th, 2015

Payday Loans: Leave this Industry Alone posted 03/27/2015, 5:28 PM (Jeffrey Tucker)
[Category: Economy]
"Bunch of do gooders shutting down the last chance these people had."

This sentence is a rare moment of truth concerning the coming regulation (or shutdown) or the payday loan industry. It appeared in the comment box on the New York Times story. Otherwise, most comments were out for blood. Regulate them! Limit interest! Make them all suffer
... (more)

Wednesday March 25th, 2015

Perfect 10 Ordered to Pay Giganews $5.6m After Failed Copyright Battle posted 03/25/2015, 3:34 PM (TorrentFreak)
[Category: Economy]
Perfect 10 must pay $5.6m in legal fees following a failed copyright battle with Usenet provider Giganews . On the heels of a February ruling in which a California Court heavily criticized the adult publisher, this week Perfect 10 was described by a Judge as a serial litigator intended to function as a "tax write-off".... (more)

Tuesday March 24th, 2015

Give'em the Old Razzle Dazzle posted 03/24/2015, 3:56 PM (Peter Schiff)
[Category: Economy]
Janet Yellen channels Billy Flynn? Last week the Fed Chairwoman treated us to a master class of rhetorical misdirection which produced some memorable examples of doublespeak, including the soon to be classic "Just because we removed the word 'patient' does not mean we're going to be 'impatient."' But perhaps more surprising than her new heights of verbal dexterity was the market's euphoria at being so blatantly manipulated. Never has the ... (more)

"BitLicense" Foolishness posted 03/24/2015, 3:56 PM (Cato @ Liberty)
[Category: Economy]
When New York’s Superintendent of Financial Services first encountered Bitcoin, he evidently thought it was a way to build his reputation as a hangin' superintendent of financial services. (Doesn’t quite roll off the tongue like "hangin' judge," does it…) He sent subpoenas to everyone in the Bitcoin world and went on TV talking about "narcoterrorists." That was foolishness.

Unfortunately, he also hatched the idea of crea
... (more)

Monday March 23rd, 2015

Dark Web's 'Evolution' Market Vanishes Along With $12 Million posted 03/23/2015, 1:10 PM (Naked Security)
[Category: Economy]
At this moment, there are likely hives of peeved drug dealers out there looking to track down the vanished operators of what was up until a few days ago the dark web's top market, Evolution.

Rumor has it that the online shop's closure on Wednesday wasn't a law enforcement bust a la Silk Road, but rather that the administrators packed up as much as $12 million (about £8.14 million) in Bitcoin and headed for the hills.
... (more)

Friday March 20th, 2015

Half of Americans Unaware of Obamacare Penalty posted 03/20/2015, 1:59 PM (WashingtonExaminer)
[Category: Economy]
Tax Day is less than a month away, but many Americans are unaware Obamacare's tax penalty goes into effect this year — or that they have extra time to sign up for coverage.

A Kaiser Family Foundation poll released Thursday found that while slightly more than half of respondents were aware the penalty kicks in this year, one in five think it goes into effect next year, roughly one in six say they don't know when it goes into effect, and one in 10 believe it was rolled out last year
... (more)

Thursday March 19th, 2015

The Best "Democracy" Money Can Buy: For Every Dollar Spent Influencing US Politics, Corporations Get $760 Back posted 03/19/2015, 12:13 PM (Zero Hedge)
[Category: Economy]
The first time we read the recent analysis by the Sunlight Foundation in which it combed through 14 million corporate records, including data on campaign contributions, lobbying expenditures, federal budget allocations and spending, in order to determine the "rate of return" on lobbying and spending to buy political goodwill, we were left speechless. ... (more)

The Costs and Benefits of Ethanol posted 03/19/2015, 12:12 PM (The Beacon)
[Category: Economy]
Here’s a back-of-the-envelope calculation on how much the mandate to require ethanol in motor fuel costs consumers, and benefits farmers.

This article notes that in 2000 about 5% of the corn crop went to the production of ethanol, and by 2013, 40% of the corn crop was devoted to ethanol production. The increased demand for corn resulted in a doubling of the per bush
... (more)

Tuesday March 17th, 2015

Bureaucracy Unlimited posted 03/17/2015, 11:33 AM (The Freeman)
[Category: Economy]
Big Gov and Big Biz. Are they holding hands, shaking hands, or boxing? It depends on the day and the issue. But while Big Biz hardly seems like a sympathetic character, Big Gov always has the upper hand.

Remember Arthur Anderson? Perhaps not. It used to be the biggest accounting firm around. Then the Justice Department went after it with little proof but lots of gusto. The megalith firm fought the law, and the law won (temporarily). The Department of Justice obtained a criminal co
... (more)

'Taxi Kingpin' in Massive Debt Thanks to Uber posted 03/17/2015, 11:30 AM (New York Post)
[Category: Economy]
The city’s “Taxi Kingpin’’ is having trouble hacking it as he battles mounds of debt — thanks to Uber.

Gene Freidman, who owns more than 900 city cab medallions, has been hit so hard by the car-hailing app that he can’t meet his bills — and Citibank is now foreclosing on at least 90 of his medallions to recoup what he owes, court records and sources say.

“Gene Freidman’s business model requires him to lease out hundreds of cars every day, and because he can’t find d
... (more)

Internet Providers Win Court Case Over 'Pirate Tax' posted 03/17/2015, 11:29 AM (TorrentFreak)
[Category: Economy]
Belgian Internet providers have won their court case against music group SABAM, which had demanded a 3.4 percent cut of all subscriber fees to compensate artists. The court ruled that ISPs are a mere conduit and can't be taxed as a public broadcast medium.... (more)

Monday March 16th, 2015

Who Will Regulate the Bank Regulators? posted 03/16/2015, 12:28 PM (Robert P. Murphy)
[Category: Economy]
A fascinating report by Finn Poschmann from the C.D. Howe Institute discusses the history of bank regulation in the U.S., Canada, and U.K. It explains the movement away from shareholder liability in banks, towards the current system where taxpayers are ultimately on the hook for a bank’s solvency. This leads to a situation of “moral hazard” where bank managers do not ... (more)

Government Regulation: Another Hidden Tax posted 03/16/2015, 12:28 PM (Mises Institute)
[Category: Economy]
Perhaps due to it not being as readily quantifiable as government taxation, debt, welfare, and money creation; regulation has too often been superficially dealt with. In many ways, the largely “hidden tax” of regulation is a bigger threat to liberty, economy, and morality than other weapons of forceful government intervention.... (more)

Saturday March 14th, 2015

New Report Shows How Western-Imposed Prohibition Policies Hurt Poor Countries posted 03/14/2015, 6:41 PM (
[Category: Economy]
Wealthy Western countries are undermining good governance and social and economic development in poor, drug-producing countries by pressuring them to enforce prohibitionist policies that exploit peasant farmers and waste millions of dollars a year on failed crop eradication and drug interdiction programs. That's the conclusion of a recent report by the British advocacy group Health Poverty Action (HPA). ... (more)

Wednesday March 11th, 2015

Jury Says Robin Thicke And Pharrell Infringed... Even If They Didn't Mean To: Told To Pay $7.3 Million posted 03/11/2015, 6:34 AM (Techdirt)
[Category: Economy]
This isn't a huge surprise, even as it's ridiculously problematic, but the jury in the "Blurred Lines" copyright case has ruled that Robin Thicke and Pharrell Williams infringed on Marvin Gaye's song, and thus now owe $7.54 million. I had guessed that this is how the jury would rule solely because it was possible to play Blurred Lines lyrics over the Gaye composition and have it soun... (more)

Tuesday March 10th, 2015

Venezuela To Start Fingerprinting Supermarket Shoppers posted 03/10/2015, 8:06 AM (Zero Hedge)
[Category: Economy]
Back in August, when we wrote about the latest instance of trouble in Maduro’s socialist paradise, we cautioned that as a result of the economic collapse in the Latin American nation (and this was even before the plunge in... (more)

Monday March 9th, 2015

Nearly At 'Full Employment'? 10 Reasons Why The Unemployment Numbers Are A Massive Lie posted 03/09/2015, 7:33 AM (The Economic Collapse)
[Category: Economy]
On Friday, we learned that the official “unemployment rate” has fallen to 5.5 percent. Since an unemployment rate of 5 percent is considered to be “full employment” by many economists, many in the mainstream media took this as a sign that the U.S. economy has almost fully “recovered” since the last recession. In fact, according to the Wall Street Journal, some Federal Reserve officials believe that “the U.S. economy is already at full employment“. But how can this possibly be? It certainl... (more)

Why It Matters If the Dollar Is the Reserve Currency posted 03/09/2015, 7:33 AM (Mises Institute)
[Category: Economy]
We refer to the dollar as a “reserve currency” when referring to its use by other countries when settling their international trade accounts. For example, if Canada buys goods from China, China may prefer to be paid in US dollars rather than Canadian dollars. The US dollar is the more “marketable” money internationally, meaning that most countries will accept it in payment, so China can use its dollars to buy goods from other countries, not solely the US. Such might not be the case with the Cana... (more)

Marc Faber On Possibility Of A Gold-Backed Chinese Currency posted 03/09/2015, 7:31 AM (YouTube)
[Category: Economy]

Thursday March 5th, 2015

Redflex Profit Plunges 414 Percent posted 03/05/2015, 7:29 AM (TheNewspaper)
[Category: Economy]
Redflex Traffic Systems continues to struggle for survival. The red light and speed camera giant told Australian investors on Tuesday that profits plunged 414 percent in the fist half of the fiscal year. Compared to the net profit of $5 million recorded last year, Redflex saw $10 million in red ink. The news could soon become even worse.... (more)

Wednesday March 4th, 2015

Lord Rothschild Warns Investors of 'Most Dangerous Geopolitical Situation Since WWII' posted 03/04/2015, 8:34 PM (Infowars)
[Category: Economy]
Lord Jacob Rothschild has warned investors that the world is mired in the most dangerous geopolitical situation since World War II.

The 78-year-old chairman of RIT Capital Partners, a £2.3bn trust, used the organization’s annual report to caution savers that the focus of the firm would be the preservation of shareholders’ capital and not short term gains.

Rothschild said that “a geopolitical situation perhaps as dangerous as any we have faced since World War II” has
... (more)

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Greeks Say FU to EU Bailout - 07/05Cop Tells Woman There's "No Excuse" For Parking The Wrong Way, Says It's Against The Law To Film Him - 07/03Cop Kills Man with Patrol Car While Speeding & Looking at Laptop, Flexes Blue Privilege – No Charges - 07/03NYPD Cops Terrified of New Bills that Will Stop them from Choking and Illegally Searching People - 07/03TSA Asks America To LOL At Traveler Who Had $75,000 Taken From Him By Federal Agents - 07/02Why Not an 'Independence From the State' Day? - 07/03Florida Man Sentenced to 8 Months for Driving Away from Interior Border Patrol Checkpoint Too Quickly - 07/03Chicago Institutes New "Amusement Tax" On Netflix, Streaming Services - 07/02

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands UpCop Receives 'Silver Valor Award' For Shooting Man With Cell Phone He Mistook For GunAnonymous Cop Pens Bizarre Editorial Calling for 'End of Anonymity on the Internet,' Says All Internet Posters Should be Forced to Register with the Government for 'Public Safety'