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Friday, May 13, 2011
Commodity Correction Will Last All Summer As Massive Carry Trade Unwinds
There seems to be a high consensus from many market watchers that this has started.
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Thursday, May 12, 2011
Why don't we love our intellectuals?
Taken from the Guardian UK - Much of topic applies to USA as well.
While France celebrates its intelligentsia, you have to go back to Orwell and Huxley to find British intellectuals at the heart of national public debate. Why did we stop caring about ideas? When did 'braininess' become a laughing matter?
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Wednesday, May 11, 2011
Tuesday, May 10, 2011
The Battle for the Soul of the GOP
Amplify’d from www.huffingtonpost.com
The Tea Partiers don't care about the debt ceiling. To them, it's a giant bargaining chit to shrink government. Nor do they worry about credit markets. If the full faith and credit of the U.S. government is no longer honored, so much the better.
You see, Tea Partiers hate government more than they hate the national debt. They refuse to reduce that debt with tax increases, even with tax increases on the wealthy, because a tax increase doesn't reduce the size of government. The Tea Partiers' real aim is to shrink the government.
But the Street and big business dislike the national debt more than they dislike government. And they wouldn't even mind a small tax increase on wealthy people like themselves in order to cinch a deal on raising the national debt. They have so much money they'd scarcely notice.
In truth, government has been good to Wall Street and big business. It bailed out the Street. It saved GM, Chrysler, and AIG. And most government spending improves the profits of big businesses -- military contractors, big agriculture, giant health-care insurers, Big Pharma, large construction companies.
Tea Partiers have almost as much contempt for big business and the Street as they do for government. After all, the Tea Party was born in anger over the Wall Street bailout.
This is the heart of the civil war in the GOP.
See this Amp at http://amplify.com/u/a124ld
Deficits Are the New Iraq
Amplify’d from www.huffingtonpost.com
The government-haters behind today's austerity economics push have also been planning their moves for a long time, too. Billionaire Pete Peterson proposed a government-downsizing scenario in the early 1990s that's virtually identical to those we'llbe seeing from the Gang of Six and other servants of the new Beltway consensus. The Peterson Foundation is the PNAC of deficit reduction.
Austerity economics won't work. When that becomes obvious there will be hell to pay. When the suffering really starts, people will look for someone to blame.
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DNC Whacks The Weekly Standard, Calls Obama Gloating Story Bogus
INSTRUCTIONS FOR THE GOVERNMENT OF ARMIES OF THE UNITED STATES IN THE FIELD (1898)
For those of you who want to learn a little about the US Army’s position on torture, check out items #56 and #80.
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Monday, May 9, 2011
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