27 Dec 2011
US congress today approved an extension of the payroll tax cut for two months...putting off a tax increase for millions of workers. So, after much partisan politicking, they did it -- saving face for the moment, but could it hurt their stock price headed into the 2012 elections? You heard me right. We'll talk about the political derivatives market a Chicago exchange is betting on. Would it be a continuation of a climate on wall street that encourages special treatment that our guest, financial journalist and inventor of the virtual specialist technology, Max Keiser, calls "the special olympics for financial fraud." And speaking of derivatives, those bets added fuel to the fire that engulfed the financial markets in 2008...most famously seen in the explosion and bailout of AGI (backdoor bailout of the big banks like goldman sachs, jp morgan, bank of america, etc.). More recently, MF Global customer money used to trade on these exchanges went missing. So where do futures exchanges come from and where have they gone wrong? Source
Following the fireworks from this weekend in which Anonymous hacked and exposed thousands of Stratfor clients and millions of confidential emails, it may be time to pay some more attention to the hacker collective, and specifically a document that was released a few weeks ago titled "Survival Guide for Citizens in a Revolution." As Anonymous itself says, "This is a snapshot of what Anonymous thinks will be useful for your survival in case of a violent revolution in your country. As most of Anonymous works, it will be constantly changed, reused, improved etc. So watch for newer releases." Because all it takes for complete chaos to erupt in addition to the unwind in the financial system, is for one or two major hacks at system critical institutions to precipitate all out social panic. And who knows - while the financial system will self destruct on is own, perhaps Anonymous itself will do this or that vis-a-vis the latter. Source
America Maxes Out Its Credit Card Again - Treasury To Raise Debt Limit By Another $1.2 Trillion On December 30
Submitted by Tyler Durden: You didn't think US consumer confidence could be bought for free now did you?
- U.S. TREASURY SAYS DEBT LIMIT TO BE RAISED BY $1.2 TRILLION
- U.S. DEBT TO BE $100 BLN WITHIN LIMIT ON DEC. 30, TREASURY SAYS
- STEPS FOR INCREASING DEBT LIMIT UNDER 2011 BUDGET CONTROL ACT
And the piece de resistance that 100% debt to GDP brings:
- OBAMA ON DEC. 30 LIKELY TO ASK CONGRESS TO RAISE DEBT LIMIT
Just as we thought the circus was over if only for a few weeks. Also, this means that in a few days, the US debt ceiling will be raised from $15.194 trillion to $16.394 trillion. As a reminder, US GDP was just revised down to $15.176 trillion. Source
Correction Corporation of America's Stewart facility in Lumpkin, Georgia is the largest private detention center in the nation. Stewart currently profits close to $50 million a year. CCA charges inmates close to $5 a minute to make a phone call. To pay for this inmates work in the facility and earn a whopping $1 a day. 5 days of work gives them enough for a one minute phone call. Source
Angelo: Land of the incarcerated, home of the detention centre. UK is going that way too. Our best prepared, best educated have nothing better to propose than a system that I very much hope is seen for the Bedlam of our time that it is. The vast resources flushed which could surely be put to better use. Any suggested structures that take longer than two sides of A4 to explain should be dismissed out of hand as bogus. They are the other 1%. As they are not insane, they are clearly the most disadvantaged in other ways or even more and more, just victims of the system itself that is often out of step with its society. Those who administer the system are rarely the peers of those being judged. Our answer in the fly to mars west remains put them in a steel cage until they rot and treat them as shown above. I get it when it comes to 'rehabilitating' the violent for the sake of safety. There must be something more effective for the non violent majority.
Bah-humbug special, taking a closer look at claims that the top 1% have more 'skin' in the game. They'll also question the intentions of the 'well-meaning' people who drive Kenyans off their land, and could be doing more harm than good with malaria vaccines. They also talk to independent journalist, Thomas C. Mountain, about charity in Africa and China's investments. Source
It's three years since Gaza was pounded by a relentless Israeli bombing and invasion that lasted 22 days. The offensive killed almost fifteen-hundred Palestinians, with many families being wiped out. For many, the battle has now shifted to the courts. Source
Destination - Islamic Emirates: Syria insurgents spark religious war
RT talks to a French journalist Thierry Meyssan, who's been reporting from the country throughout the conflict, and shares now his first-hand impressions, on what's really happening there. Source
The United States has a passion for pills, being the world's biggest users of psychotropic drugs, consuming 60 per cent of them. And pharmaceutical firms are keen to keep cashing in on the multibillion-dollar market, even if it costs people's health.
America is regarded as a country with a prodigious appetite for consumption. Today, a widespread fondness for pharmaceuticals has turned the US into a nation of pill-poppers. Source