Obama And Francine Wheeler’s New Low

Via: Market-Ticker

Obama Picks Goldman Sachs Exec for Ambassador to Canada

I rarely go after private citizens in my column. Today I’m going to make an exception and the reason is that this person inserted themselves, on their own volition, into an attempt to violate every man, woman and child’s fundamental right to life. By doing so they have turned themselves into public figures and as such lose any such pretense of “privacy” in their opinion nor do they have a legitimate shield from the equally-public response by those who they offend.

I speak of Francine Wheeler, specifically, who Obama trotted out this morning like a puppet to try to press for more “gun control.”

“I feel Ben’s presence filling me with courage for what I have to do – for him and all the others taken from us so violently and too soon,” Wheeler said in the address, which was broadcast on radio stations and streamed on the Internet.

“But that’s only the start,” Wheeler said. “They haven’t yet passed any bills that will help keep guns out of the hands of dangerous people. And a lot of people are fighting to make sure they never do.”

Read more: here

Well said…
-Moose

State Auditor: California’s Net Worth at Negative $127.2 Billion

Via: The Sacramento Bee

March 28, 2013

Were California’s state government a business, it would be a candidate for insolvency with a negative net worth of $127.2 billion, according to an annual financial report issued by State Auditor Elaine Howle and the Bureau of State Audits.

The report, which covers the fiscal year ending June 30, 2012, says that the state’s negative status — all of its assets minus all of its liabilities — increased that year, largely because it spent more than it received in revenue.

During the 2011-12 fiscal year, the state’s general fund spent $1.7 billion more than it received in revenues and wound up with an accumulated deficit of just under $23 billion from several years of red ink. Gov. Jerry Brown has referred to that and other budget gaps, mostly money owed to schools, as a “wall of debt” totaling more than $30 billion.

Last November, voters passed an increase in sales and income taxes that Brown says will balance the state’s operating budget and allow the debt wall to be gradually dismantled.

About half of the $127.2 billion in accumulated red ink came from the state’s issuing general obligation bonds and then giving the money to local governments and school districts for public works projects, the auditor pointed out. The assets built with the bonds remain on local balance sheets while the bonded debt accrues to the state.

Read more: here

WTF? Negative 127 billion! Bunch of scum sucking, lying politicians!
-Moose

Integrity’s Demise; The Israeli March To Shiflut

Via: ICH

By Meir Stieglitz

April 12, 2013 “Information Clearing House” – There is no proper understanding of Israel today without appreciating the meaning of “Shiflut” (שפלות). In my interpretation, this unique Hebrew word represents a moral abysmal point – the anti-thesis of Integrity. Shiflut is the essence of the Israeli Spirit and its historical driving force.

Throughout history there appear synergy events between People and Ideas which sporadically constitute the nexus and provide the inertia — usually activated by prophets, leaders and scientists — for progress (or regress) in humanity’s evolution. In historical praxis, a specified group of people are endowed with energy and spirit which enable them to function as an evolutionary engine.

Some examples: Sumer-Babylon fertilized Urbanization; Assyria organized armies initiated the Military; Ancient Egypt worshiped Deified Rulers. Prophetic Judaism endowed humanity with the spirit of Transcendentalism; Hellenic Greece taught humanity the Love of Wisdom ; Rome greatness was in Empire Governance; Apostolic Christianity spreads the seeds of Humanism; The Mongols excelled in the Destruction of Civilizations ; Core Buddhism explored the ways of Harmony seeking; Post-Medieval Europe enlighten Science and Technology; Great Britain perfected Global Projection of Power; Modern Russia and France were the breeders of World Revolutions; German Nazism the executioner of Ultimate Global Evil; Modern China still is the largest manager of (controlled) Collectivism; The United States still is the dominant manifestation of (managed) Individualism, and so on.

On that Moral-Historical catalog, Israel place is as the epitome and breeder of Shiflut – namely, national life saturated with phenomenally flexible and, at the same time, utterly replaceable ethical spine. At its less threatening mode the Israeli public field (from Left to Right through the Center) is a sizzling incubator of nation-wide varied modes of opportunism; at its worst, the Israeli spirit is national victimhood gone berserk — on the global arena.

In parallel, The Israeli relations with the truth are like those of a businesslike pimp to his prize prostitute: he sings her praise, makes the most of her as long as it is profitable and guards her so that no one else will have his way with her without pay. But whenever the cost of truth weighs more than pimping it, then, without hesitation, the designated Israeli leader throws truth to the gutter while wailing how much it did cost him to keep with it at all.

Read more: here

Defense Industry: Keep Paying Us or the Economy Dies

Via: Wired

By Spencer Ackerman

Defense giant Lockheed Martin had a totally sweet quarter, raking in $700 million and looking forward to the same this time next year. So it raises eyebrows when Lockheed’s anointed mouthpieces predict mass economic disaster if Congress touches the defense budget.

On Tuesday, the aerospace industry put out a report saying that chopping the defense budget would put over a million Americans out of work. Cuts that could total up to a trillion dollars over 10 years would “devastate the economy and the defense industrial base and undermine the national security of our country,” said Marion Blakeley, president of the Aerospace Industries Association, which sponsored the report.

But while Blakeley’s group paid for research to draw that dire conclusion, some of her members reported a sunnier economic outlook to their shareholders. In its third-quarter earnings report, also released Tuesday, Lockheed – manufacturers of the F-22 and F-35 jets — told investors to expect that as long as Congress passes President Obama’s next defense budget, ”the Corporation expects 2012 net sales to be flattish as compared to 2011 levels, and that consolidated 2012 segment operating profit margin will remain at approximately 11 percent.” Boom: another $700 million in earnings, on its way.

While there’s no doubt that defense cuts will mean job losses, there’s also no doubt that a report prepared for an industry so reliant on defense cash will paint a stark picture of what happens if that cash is threatened. Congressmembers looking to get reelected pay attention, since fighting for defense money as a jobs program is easier than making a case for what a sensible, appropriately funded defense strategy ought to be. That’s the problem with reports like these: They make it easy to ignore structural economic and defense problems and imply that all will be well if the cash keeps flowing.

Read more: here

Top 20 Airports for TSA Theft

Via: TSA Watch

April 8th, 2013 by Lady Liberty

We all hear the news reports – laptops, tablets, jewelry, cash, and more… stolen from passengers by sticky-fingered TSA agents. Thefts became such a problem that even the TSA had to step up to the plate and take action.

In recent years, the TSA has fired over 400 agents for allegedly stealing from passengers in our nation’s airports.

Thanks to ABC News and a Freedom of Information Act request, the TSA is releasing the names of the airports where those employees worked. Predictably, many of our nation’s busiest airports also rank at the top of the list for the number of TSA agents fired for theft.

Interestingly, however, the number one airport for TSA theft firings only ranks twelfth in number of passengers. Miami International Airport (MIA) tops our list with 29 TSA agents fired for theft between 2002 and 2011.

Read more: here

Terrorizing and Stealing from Americans
-Moose

The Eroding Premium on Truth and Trust

Via: Of Two Minds

Wednesday, April 10, 2013

The premium in America has shifted from truth to self-serving distortion, and from trust to manipulation.

The premium we place on truth and trustworthiness is self-evident. Truth is uniquely productive feedback from the real world. Truth (including factual data) is indispensable, for it alone enables us to correct errors, learn from mistakes and improve our effectiveness and communication.

We pay a premium for trust because the cost of dishonesty and artifice is steep.Would you pay more to buy a used car from someone you trust? If you place no premium on trustworthiness, then you buy the “great deal” used car you found online: oops, the “new” battery was spray-painted black, the crankcase leaks, the engine is shot and doesn’t pass smog, and the certificate of ownership is forged.

The premium on truth and trust is eroding under the constant onslaught of officially manipulated data and markets, and a vast array of distortions and propaganda designed to serve the interests of ruling Elites and key constituencies.

We all know the negative premium placed on fact: telling the truth will get you fired. And not just in the corporate world: politicians from the President on down all worship at the altar of the carefully distorted unemployment rate.

The officially sanctioned lying and manipulation are now shameless. Never mind that millions of people have become statistical phantoms (i.e. not in the workforce) to generate that low rate, and college graduates working 3 hours a day (if they’re called in at all) are gleefully counted as employed, as if there is no difference between a full-time job and a marginal one.

President Obama is touting rising auto sales as proof of the “recovery” (and implicitly, of his wise stewardship), studiously avoiding the fact that these stupendous auto sales are the result of offering low-interest rate auto loans to marginal borrowers with near-zero collateral (i.e. skin in the game).

How did blowing a credit bubble and securitizing the debt turn out last time?

Read more: here

Aspartame in Milk Without a Label? Big Dairy Petitions FDA For Approval

Via: The Daily Sheeple

February 23rd, 2013

Two powerful dairy organizations, The International Dairy Foods Association (IDFA) and the National Milk Producers Federation (NMPF), are petitioning the Food and Drug Administration to allow aspartame and other artificial sweeteners to be added milk and other dairy products without a label.

The FDA currently allows the dairy industry to use “nutritive sweeteners” including sugar and high fructose corn syrup in many of their products. Nutritive sweeteners are defined as sweeteners with calories.

This petition officially seeks to amend the standard of identification for milk, cream, and 17 other dairy products like yogurt, sweetened condensed milk, sour cream, and others to provide for the use of any “safe and suitable sweetener” on the market

They claim that aspartame and other artificial sweeteners would promote healthy eating and is good for school children.

Read more: here

Why should they have to tell us what’s in the food?
I mean, C’mon man…

-Moose

More Than 101 Million Working Age Americans Do Not Have A Job

Via: The Economic Collapse Blog

By Michael, on April 7th, 2013

The jobs recovery is a complete and total myth. The percentage of the working age population in the United States that had a job in March 2013 was exactly the same as it was all the way back in March 2010. In addition, as you will see below, there are now more than 101 million working age Americans that do not have a job. But even though the employment level in the United States has consistently remained very low over the past three years, the Obama administration keeps telling us that unemployment is actually going down. In fact, they tell us that the unemployment rate has declined from a peak of 10.0% all the way down to 7.6%. And they tell us that in March the unemployment rate fell by 0.1% even though only 88,000 jobs were added to the U.S. economy. But it takes at least 125,000 new jobs a month just to keep up with population growth. So how in the world are they coming up with these numbers? Well, the reality is that the entire decline in the unemployment rate over the past three years can be accounted for by the reduction in size of the labor force. In other words, the Obama administration is getting unemployment to go down by pretending that millions upon millions of unemployed Americans simply do not want jobs anymore. We saw this once again in March. According to the U.S. Bureau of Labor Statistics, more than 600,000 Americans dropped out of the labor market during that month alone. That pushed the labor force participation rate down to 63.3%, which is the lowest it has been in more than 30 years. So please don’t believe the hype. The sad truth is that there has been no jobs recovery whatsoever.

If things were getting better, there would not be more than 101 million working age Americans without a job.

Read more: here

Hey…That’s not what Fox News said…
-Moose

Unemployment Is Really 14.3%–Not 7.6%

Via: Forbes


4/08/2013

The current job-creation numbers are meaningfully below the level we might expect during a period of record corporate earnings and the reaching of new peaks in the major stock market indices.

Let’s go to the videotape –

The unemployment rate is 7.7%. But, there is another 0.6% of discouraged workers,(about 800,000) mainly the young, minorities and those without the all-necessary high school diploma. Another 0.9% are only marginally employed (whatever that means) and have mostly stopped looking for a job recently. More crushing is the 5.1% of the workforce most impacted by the 2008 downturn, who are working only part-time and would prefer to have a full-time position. That 5.1% part-time workers total 8 million people, who mostly are having trouble making ends meet and most likely have no health plan from their employer, according to Bob Eisenbreis, vice chairman and chief monetary economist at Cumberland Advisers, a New York-based investment firm that makes useful comments on the economy.

These numbers added together suggest that the true unemployment level– when part-time workers are included– is 14.3%–meaning that one in seven of every potential full-time employee in the U.S. economy is not able to earn a proper living wage–and thereby contribute to the snails-pace of economic growth.

Read more: here

America’s Hired Death Squads and Torture Teams Are Still Operating in Iraq

Via: AlterNet

A 15-month investigation exploring war crimes long denied by the Pentagon lays out the tragic truth.

April 7, 2013 |

Death squads, torture, secret prisons in Iraq, and General David Petraeus are among the featured atrocities in a recently-released new British documentary – James Steele: America’s Mystery Man in Iraq – the result of a 15-month investigation by Guardian Films and BBC Arabic, exploring war crimes long denied by the Pentagon but confirmed by thousands of military field reports made public by Wikileaks.

The hour-long film explores the arc of American counterinsurgency brutality from Viet-Nam to Iraq, with stops along the way in El Salvador and Nicaragua. James Steele is now a retired U.S. colonel who first served in Viet-Nam as a company commander in 1968-69. He later made his reputation as a military advisor in El Salvador, where he guided ruthless Salvadoran death squads in the 1980s. When his country called again in 2003, he came out of retirement to train Iraqi police commandos in the bloodiest techniques of counterinsurgency that evolved into that country’s Shia-Sunni civil war that at its peak killed 3,000 people a month. Steele now lives in a gated golf community in Brian, Texas, and did not respond to requests for an interview for the documentary bearing his name

Read more: here

But they don’t like us because of our freedom..
Not because we keep murdering them….
WTF?
-Moose

Margaret Thatcher’s Criminal Legacy

Via: ICH



By Finian Cunningham

April 09, 2013 “Information Clearing House” – Hours after the death of former British prime minister Margaret Thatcher, the history books are being re-written and the beatification of the Iron Lady is well underway.

Current British premier David Cameron praised Lady Thatcher for having “saved Britain” and for making the has-been colonial power “great again”.

Tributes poured forth from French and German leaders, Francoise Hollande and Angela Merkel, while US President Barack Obama said America had lost a “special friend”.

Former American secretary of state Henry Kissinger and former Russian leader Mikhail Gorbachev also lamented the loss of “an historic world figure”. Polish ex-president Lech Walesa hailed Margaret Thatcher for having brought down the Soviet Union and Communism.

Such fulsome praise may be expected coming from so many war criminals. But it is instructive of how history is written by the victors and criminals in high office. Obama, Cameron, Hollande and Merkel should all be arraigned and prosecuted for war crimes in Iran, Iraq, Afghanistan, Libya, Syria, Pakistan, Somalia and Mali, among other places. Kissinger has long evaded justice for over four decades for his role in the US genocide in Southeast Asia during the so-called Vietnam War in which over three million people were obliterated in Vietnam, Laos and Cambodia.

The British state is to give Thatcher, who died this week aged 87, a full military-honours funeral. The praise, eulogies, wreaths and ceremonies are all self-indictments of association with one of the most ruthless and criminal political figures in modern times.

So, here is a people’s history of Thatcher’s legacy.

She will be remembered for colluding with the most reactionary elements of Rupert Murdoch’s squalid media empire to launch a war over the Malvinas Islands in 1982, a war that caused hundreds of lives and involved the gratuitous sinking of an Argentine warship, the Belgrano,
by a British submarine.

By declaring war, rather than conducting political negotiations with Argentina over Britain’s ongoing colonial possession of the Malvinas, Thatcher salvaged her waning public support in Britain, and the bloodletting helped catapult her into a second term of office in Downing Street. Her political “greatness” that so many Western leaders now eulogize was therefore paid in part by the lives of Argentine and British soldiers, and by bequeathing an ongoing source of conflict in the South Atlantic.

It wasn’t just foreigners that Thatcher declared war on. Armed with her snake-oil economic policies of privatisation, deregulation, unleashing finance capitalism, pump-priming the rich with tax awards subsidised by the ordinary working population, Thatcher declared war on the British people themselves. She famously proclaimed that “there was no such thing as society” and went on to oversee an explosion in the gap between rich and poor and the demolition of social conditions in Britain. That legacy has been amplified by both successive Conservative and Labour governments and is central to today’s social meltdown in Britain – more than two decades after Thatcher resigned. Laughably, David Cameron, a protégé of Thatcher, claims that she “saved” Britain. The truth is Thatcher accelerated the sinking of British capitalism and society at large. What she ordered for the Belgrano has in a very real way come to be realised for British society at large.

During her second term of office in the mid-1980s, the Iron Lady declared war on the “enemy within”. She was referring to Britain’s strongly unionised coal-mining industry. Imagine declaring war on your own population. That is a measure of her pathological intolerance towards others who did not happen to share her obnoxious ideological views – ideological views that have since become exposed as intellectually and morally bankrupt.

Read more: here

Thank goodness American politicians aren’t like this…

-Moose

Gun Law Drafted In Secret

Via: Daily Caller

By Alan Korwin, Author; Gun Laws of America, GunLaws.com

Bans Firearms Public Already Owns

State retains power to own all especially deadly guns

Forces federal agents to either violate state law or deny civil rights

Effectively immediately

That’s not the way networks covered it, is it, but identical story

Can you imagine what a tough uphill struggle the anti-gun-rights people would have if the “news” media wasn’t falling all over itself to support the anti-rights side?

Connecticut just drafted 138 pages of gun law basically in secret, enacted it before it could be read and digested by those who signed it — and certainly not by the public it pretends to legitimately control — and in doing so ended up requiring federally licensed agents in the state to violate federal law, or flatly deny citizens their rights. Just on practical grounds this is a disaster. But that’s as if nothing, according to leading experts.

Legislators who draft laws in secret are behaving like the king’s men who ignited the American Revolution. They can expect no less if they continue down such a dark road, many experts say.

What did the officials choose to draft law against by this nefarious method? Only the very palladium of liberty, the very thing the Revolution warned us to guard against, a bill to reduce and actually eliminate a right for keeping and bearing arms the public already legally keeps.

Along with a list of many of the most popular makes and models in use today, the bill includes broad descriptions of arms to cover an untold number of other modern and older firearms. Are they out of their minds?

Read more: here

The Economic Ignorance of Barack Obama

Via: Defining Ideas

April 9, 2013
by Richard A. Epstein

If we want better jobs numbers, we need to deregulate labor markets.

One story has dominated the economic news this past weekend. The story is that job creation has slowed to a “trickle,” in the words of a Wall Street Journal headline. Only 88,000 new jobs were created in the month of March. That feeble rate was accompanied by the “good” news that the jobless rate, which only counts those actively seeking work as unemployed, had dropped from 7.7 to 7.6 percent.

The real news was that the decline in the unemployment rate was explained by the separation of nearly half a million people from the workforce, so that labor-force participation shrunk from about 67.3 percent in early 2000 to about 63.3 percent today. A crude first approximation of the real unemployment rate would add back at least 4 lost percentage points. A more accurate estimation of the actual unemployment rate would account for those individuals who were out of the market by 2000 in part because of the impediments to market performance that were already in place.

With these weak numbers, the political discussion has continued to focus on job creation and economic growth: How should these goals be accomplished? On “All Things Considered,” I heard E.J. Dionne advise that the Federal Reserve should keep its foot on the accelerator, by opening the cash spigot and keeping interest rates at their historic lows. At the same time, the rest of the government should put worries about the deficit aside—or so the argument goes—by increasing public expenditures funded in part through higher taxes on the top one percent. David Brooks rightly disparaged that prescription, but still was unable to identify that “big structural change” he hoped would turn the economy around.

Read more: here

Yeah…Dope means good…
-Moose

School: Americans Don’t Have Right to Bear Arms

Via: FOX

By Todd Starnes

The father of a Connecticut child is furious after discovering that his son’s school is teaching students that Americans don’t have a Second Amendment right to bear arms.

 “I am appalled,” said Steven Boibeaux, of Bristol. “It sounds to me like they are trying to indoctrinate our kids.”

Boibeaux’s son is an eighth grader at Northeast Middle School. On Monday his social studies teacher gave students a worksheet titled, ‘The Second Amendment Today.’

“The courts have consistently determined that the Second Amendment does not ensure each individual the right to bear arms,” the worksheet states. “The courts have never found a law regulating the private ownership of weapons unconstitutional.

The worksheet, published by Instructional Fair, goes on to say that the Second Amendment is not incorporated against the states.

“This means that the rights of this amendment are not extended to the individual citizens of the states,” the worksheet reads. “So a person has no right to complain about a Second Amendment violation by state laws.”

According to the document, the Second Amendment “only provides the right of a state to keep an armed National Guard.”

Boibeaux said he discovered the worksheet as he was going over his son’s homework assignments.

“I’m more than a little upset about this,” he told Fox News. “It’s not up to the teacher to determine what the Constitution means.”

Read more: here

Unbelievable…
This is how it is done..teach the next generation the lies…and they become the truth…
-Moose

Here Are 163 Examples of Barack Obama’s Lying, Lawbreaking, Corruption, Cronyism, Hypocrisy, Government Waste, and Other Misdeeds

Via: Dan from Squirrel Hill

In the 2008 United States election, I wrote in Ron Paul for President. In the 2012 election, I voted for Libertarian Party candidate Gary Johnson. Those who are of a more leftist persuasion than myself might want to consider voting for the Green Party in future elections.

Some of the things on this list are major events that should scare the daylights out of any true liberal who cares about civil liberties.

Other things on this list are medium things that some Obama supporters may dislike, but would be willing to overlook in light of the things that Obama has done which they like.

And some of the things on this list may seem trivial, but I still think they are an interesting reflection of the kinds of policies that Obama supports.

Read more: here

Yo….Dope means good?
It looks bad when you put it in a list like that…
-Moose

Prosecutable US Crimes Against Humanity In Korea

Via: ICH

By Jay Janson

March 31, 2013 “Information Clearing House” – While staring at the New York Times front page photo of the bat-winged nuclear-capable B-2 Stealth Bombers up in the blue sky on their first non-stop long-range mission from the US on their way to a practice sortie to end in a mock bombing drop of inert munitions on a range off South Korea’s coast, I ponder.

The thought that ‘enough is enough’ will apparently never arise in the mind-set of those commanding the first planet-encompassing space-age military, blown up now to an uncontrollable magnitude and fueled by an uninterrupted flow of trillions of dollars by ledger line pre-occupied elite of the speculative investment banking community; a community possibly still being led by multi-war promoting confidants of ninety-eight year old David Rockefeller.1

Former president of Korea, Lee Myung-bak dutifully bought loads of new US weapons of mass destruction. Does he ever remember watching his two tiny siblings begin to slowly die before his eyes during a US bombing raid on his family’s farm? As the nuclear capable black bat wings make their run over her beloved Korea, does the new President, Park Geun-hye, keep in mind her father’s point blank assassination by the head of the, allegedly American overseen, Korean CIA?

Read more: here

Obama’s New SEC ‘Sheriff.’ No Conflict of Interest When it Comes to Shielding Wall Street’s Pin Striped Mafia

Via: ICH


By Tom Burghardt

March 31, 2013 “Information Clearing House” – One indelible sign of state capture by pirate corporations and the financial jackals holding sway on Wall Street and the City of London is the ease with which former “regulators” slip into plum positions with the firms whom they supposedly “regulated” as “public servants.”

While the drone kill-crazy Obama regime has done yeoman’s work cementing in place extra-constitutional policies first enacted by the Bush gang–only to exceed Bushist depredations by a whole order of magnitude–kool-aid sipping “progressives” and troglodytic “conservatives” have given the president a free pass when it comes to policing the financial criminals who blew up the world economy.

But when it comes to US spy agencies probing and sweeping up your financial information, well, the sky’s the limit!

As Reuters reported last week, the administration “is drawing up plans” to give securocrats “full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document.”

That Treasury plan would give secret state apparatchiks, including those ensconced at CIA, NSA and the Pentagon free reign to rummage through the Financial Crimes Enforcement Network’s (FinCEN) massive database of “suspicious activity reports” routinely filed by “banks, securities dealers, casinos and money and wire transfer agencies.” The FBI and DHS already have full access to that database under the Orwellian USA Patriot Act.

Under the proposal, FinCen data will be linked “with a computer network used by US defense and law enforcement agencies to share classified information called the Joint Worldwide Intelligence Communications System,” according to Reuters.

And since requirements for filing SARs are “so strict,” banks often “over-report,” this “raises the possibility that the financial details of ordinary citizens could wind up in the hands of spy agencies,” where it will live in perpetuity, “criminal evidence, ready for use in a trial,” as Cryptohippie famously warned.

Got that? While Wall Street drug banks are handled with care because of the “collateral consequences” that might result from a criminal referral for laundering billions of narco-dollars, the average citizen’s financial data will be fair game.

Which brings us back to Obama’s anemic regulatory regime and the “sheriffs” eager to do the bankster’s bidding.

Read more: here

Scum sucking pigs….
-Moose

Health and Human Services Secretary Doesn’t Understand What Insurance Is

Via: The Daily Beast

Kathleen Sebelius thinks insurance isn’t really insurance unless it covers routine expenses. This is exactly backwards.

by Megan McArdle Mar 27, 2013

How can insurance make everyone better off?

After all, the insurance company has to make money. That has to mean that the expected value of the claims they pay out is lower than the expected value of the premiums their customers pay in. In some sense, then, the expected value of your insurance premium is negative.

But insurance does make everyone better off, because it covers very large costs that most people would have trouble paying. Even most really good savers would have a hard time replacing the value of their house, or paying off a $250,000 judgement for an auto accident. The expected value of those incidencts is very, very negative–more than just the value of the cash, you have to factor in the horror of being homeless or bankrupt. When you factor in the homelessness, the bankruptcy, and so forth, the slighly negative expected financial value is more than outweighed by the positive value of being protected against personal catastrophe. Not to mention the peace of mind one gets from not having to worry about homelessness, etc.

This is the magic of risk pooling. But notice that it’s the catastrophe which makes insurance a good deal. You wouldn’t get much value from buying “grocery insurance”. At best, you’d be paying an extra administrative fee to route your routine expenses through an insurer, rather than paying them directly. At worst, you’ll end up with bills skyrocketing as all sorts of perverse incentives appear. After all, if the insurer is paying all your grocery claims, why not load up on filet mignon instead of ground turkey?

But insurers try very hard never to sell insurance for less than the cost of your expected claims. If you expect to buy $10,000 worth of groceries next year, it will not charge you less than that for a “grocery policy”. And if we all drive up the costs of grocery insurance by consuming more, the insurer can do one of two things: raise everyone’s “insurance premiums” to cover a filet mignon budget, or create a list of “approved groceries” that it will cover, and start hassling anyone who tries to file an excessively expensive claim.

Sound familiar?

Read more: here

A rigged game! A scam I say!
-Moose

Was the Iraq War About Grabbing Oil … Or Keeping It Off the Market?

Via: ZeroHedge

Submitted by George Washington on 03/30/2013

U.S. Secretary of Defense Chuck Hagel, 4-Star General (and CENTCOM commander with responsibility for Iraq) John Abizaid, Fed boss Alan Greenspan, President George W. Bush, Senator John McCain, Sarah Palin, Bush speechwriter David Frum, key war architect John Bolton, and a high-level National Security Council officer all say that the Iraq war was about oil.

Documents from Britain show the same thing.

But apologists for the Iraq war said this can’t be true, because American companies didn’t really end up with that much Iraqi oil.

BBC and Guardian investigative reporter Greg Palast – a New York Times bestselling author – thinks he knows why. Palast is famous for obtaining original source documents from whistleblowers which tell the real story.

Palast argues today that source documents he obtained through cloak-and-dagger methods prove that the war was actually focused on keeping Saddam’s oil off of the market … so as to keep oil prices high: 

Read more: here

No way…Our leaders wouldn’t allow this.. I mean, come on, there must be laws against it….
-Moose

Risk – It’s Not Just A Board Game

Via: ZeroHedge

Submitted by Tyler Durden on 03/30/2013

“The world is a very risky place right now for an investor,” is the cautious manner in which Grant Williams (of Things That Make You Go Hhmm infamy) begins this excellent presentation, even though he notes that “the general perception is that there is very little risk,” as all markets from equities to bonds (and even risk itself) are priced as though 2007/8 never happened. It appears, Williams notes, given the market’s perceptions that, “all the problems are behind us.” He chides, “Nothing could be further from the truth.” Williams focuses on the corruption of traditional price signals by Central Banks’ ZIRP (and LSAP) policies, financial repression, and the possibility that the gold leasing market is about to fall apart – because one of these days, someone is going to ask for their gold back and be told they can’t have it.

“By definition, risk-takers often fail. So do morons. In practice it’s difficult to sort them out.”

Scott Adams – The Dilbert Principle

See more: here

It’s long but worth it….
-Moose