What’s Hidden In The Obama Healthcare Bill….You Won’t Believe Some Of The Things

Posted By on January 20, 2011

Bad seats, hey buddy!   Buried in the thousands of pages of the new health bill is this little gem…..

“I can make a firm pledge.  Under my plan, no family making less than $250,000 a year will see any form of tax increase.  Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,”
         President Obama,  April 08, 2010
 
Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income, including the sale of single family homes, townhouses, co-ops, condominiums, and even rental income.
 
In February 2010, 5.02 million homes were sold, according to the National Association of Realtors.  On any given day, the sale of a house, townhome, condominium, co-op, or income from a rental property can push middle-income families over the $250,000 threshold and slam them with a new tax they can’t afford.   
 
This new ObamaCare tax is the first time the government will apply a 3.8 percent tax on unearned income.  This new tax on home sales and unearned income and other Medicare taxes raise taxes more than $210 billion to pay for ObamaCare.   The National Association of Realtors called this new Medicare tax on unearned income “destructive” and “ill-advised” and warned it would hurt job creation.

What’s That Old Saying…Records Are Made To Be Broken!

Posted By on January 19, 2011

This is a key story: There were a record low number of housing completions in 2010, breaking the record set in 2009.
 
In 2010, 1 to 4 unit completions were at a record low 506 thousand. This was just below the 534 thousand units completed in 2009. This is far below the previous record low of 712 thousand units in 1982. For 5+ units, completions were at 147 thousand units. This was just above the record low of 127 thousand in 1993 – and that record will be broken in 2011.
 
 
 
   

The House Just Voted To Kill The New Healthcare Bill That Everyone But The Politicians Have To Abide By

Posted By on January 19, 2011

The bill to repeal Obamacare just passed the House, easily by a vote of 245-188. Now it goes to the Senate, where Harry Reid says it won’t come up for a vote.

Domestic Equity Funds Showed Large Inflow In Latest Period

Posted By on January 19, 2011

ICI data for the week ended January 12 showed domestic equity fund  inflows of $3,765 million following last week’s outflow of $4,229. This is the largest inflow going back to 2009.

Bond fund flows in everything but Munis were positive. Non-taxables saw another whopper of an outflow, this time for a total of $2.4 billion.

www.zerohedge.com

You Don’t Say……..

Posted By on January 18, 2011

At income tax time, did you ever notice when puttting the two words ‘The’ and ‘IRS’ together it spells  — ‘THEIRS’?

Proposed 28’th Amendment To The United States Constitution:

Posted By on January 18, 2011

An idea whose time has come!  We would ordinarily say “send a letter to your congressman”, but they’re in a self serving mode with these entitlements, so let’s send this to everybody else that you can think of!

Many citizens have no idea that members of Congress retire with the same pay after only one term, or that they specifically exempted themselves from many of the laws they have passed (such as being exempt from any fear of prosecution for sexual harassment) while ordinary citizens must live under those laws. The latest was to exempt themselves from the Healthcare Reform … in all of its forms. That isn’t logical nor fair.

Governors of 35 states have already filed suit against the Federal Government for imposing unlawful burdens upon them. It only takes 38 (of the 50) States to convene a Constitutional Convention.

The 26’th amendment (granting the right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971…before computers, before e-mail, before cell phones, etc.
Of the 27 amendments to the Constitution, seven (7) took 1 year or less to become the law of the land…all because of public pressure.

If each addressee were to forward this to a minimum of twenty people on their address list and in turn ask each of those to do likewise we would have a giant wave of discontent bearing down on Congress.
 
 
This is one proposal that really should be passed around!
 
Proposed 28’th Amendment to the United States Constitution: 
 
“Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Senators and/or Representatives; and, Congress shall make no law that applies to the Senators and/or Representatives that does not apply equally to the citizens of the United States .” 
 
 

From Dr Joe Duarte….Pensions, Budgets, Municipal Bonds, And Property Taxes Are The Key Combination For Municipalities

Posted By on January 18, 2011

Dr Joe Duarte has a good feel for this…..With states cutting budgets across the board, where is the growth going to come from?

In San Diego an interesting fight between the city and its unions is developing that could set the stage for how things work out in other places with similar problems. According to San Diego Six.com: “The city faces a 2.1 billion dollar pension deficit” and “The city wants to negotiate a deal with the unions.” The issue is familiar. The city increased pension benefits to workers but did not fund the increases, leaving gaping holes in coverage and setting up the potential for a crisis. But San Diego is not alone. The state of Illinois has recently passed a huge income tax increase due to its budget problems, which are partially due to union related benefits.

In San Diego the city is looking to “for a cap on pensions, an end to all pension related lawsuits, and to keep the current retirement benefits intact.”

In New Jersey, Governor Christie has proposed a $10.5 billion cut to Medicaid in order to cut into the state’s growing deficit problems. According to Bloomberg: “New Jersey has run consecutive annual deficits for a decade.” And overall, Bloomberg reports: “States face deficits that may reach $140 billion in the next fiscal year, according to the Center on Budget and Policy Priorities in Washington.”

And New Jersey is not alone. According to Bloomberg: “New York’s new governor, Democrat Andrew Cuomo, said he wants to lower spending $2.1 billion, the Wall Street Journal reported. Rick Scott, the recently elected Republican governor of Florida, said he is looking to trim the program by $1.8 billion.”

The relationship between budget deficits, pension deficits, and municipal bond defaults has yet to be fully explored by analysts, other than Whitney. But it’s there, and it is quite significant.

The centerpiece of most city’s budgets is property taxes. But with a housing glut and rising foreclosures, the money spigots for cities and states have been shut off or significantly reduced. Municipal governments don’t seem to realize that point just yet. When they do, it will likely mean more moves like the recent income tax hike in Illinois.

More: http://www.joe-duarte.com/index.asp

Inflation………Got Ya! But Uncle Sam Says Trust Us, There Is No Inflation….Hmm, Have They Earned Our Trust? Sort Of Like “There Is No Housing Bubble” or The “Suprime Problem Is Contained” Back In 2007, Didn’t Turn Out So Well, Did It!

Posted By on January 18, 2011

This morning, we see Britain’s consumer price index grew in December to an annualized 3.7%. Fuel prices are growing at their fastest pace since July, and food prices are rolling at a rate last seen in May 2009.

Like the U.S. Federal Reserve, the Bank of England has an inflation “sweet spot” of 2%. But Britain’s CPI has been above 3% for 13 months now. Unlike in the United States, even the “core” rate of inflation in the UK is rising at an alarming 2.9%.

Inflation Is Where?

The BLS CPI has shown virtually no movement over the last few years.  Much of this is due to the bursting of the housing market.  The BLS heavily weights housing.  Most Americans spend the most on their housing costs each month.  Yet the housing crash has hidden some major inflation in certain items.  For example, oil is back up and you need only look at gas prices.  For those who shop the cost of food items has gone up last year.  Yet retailers have gotten creative with packaging so prices stay the same yet the amount you are receiving has gone down.

Take a look at the price of coffee, wheat, soybeans, orange juice, and other items over the last year.  The S&P 500 went up by 13.6 percent but this pales in comparison to other sectors.

inflation commodities

www.mybudget360.com

States: $2-2.5 Trillion Pensions Shortfall Dead Ahead

Posted By on January 18, 2011

We’ve been talking about this for a while here at TheStatedTruth.com ……..

U.S. public pensions face a shortfall of up to $2.5 trillion, yes trillion.  It will force state and local governments to sell assets and make deep cuts to services, according to the former chairman of New Jersey’s pension fund.

“States face cost pressure, most prominently from retirement benefits and Medicaid [the health programme for the poor],” Orin Kramer told the Financial Times.

“One consequence is that asset sales and privatisation will pick up. The very unfortunate consequence is that various safety nets for the most vulnerable citizens will be cut back.”

Three Steps To Fix The Mortgage Mess

Posted By on January 17, 2011

This read actually makes a lot of sense, and it takes the government out of the picture.  We would add one more thing….. that is for most mortgages to be assumable like they used to be.  The negative short term draw back is that like everything the government gets involved with, once they leave, there will be pain and no gain for a while.   Why you ask….because the government has basically rigged things in an effort to save everyone.  Had this not happened, things (stocks and real estate) would have already reset to a lower level. 

New System

We can’t rely on the same private mortgage system, which specialized in the production and sale of fraudulent securities and almost vaporized the global financial market. The Dodd-Frank law notwithstanding, credit-rating companies are still on the take, regulators are still on the make, and boards of directors are still on a break. They won’t protect us from Wall Street’s sale of snake oil.

We need a new limited-purpose mortgage system, which confines banks and other mortgage makers to doing just one thing — connecting lenders with borrowers, not leveraging the taxpayer. And we need the government to directly oversee the mortgage initiation process, organize a competitive market in home loans, and fully disclose all the details of mortgages on the Web so investors in these loans will know what they are buying.

This is remarkably easy to accomplish.

Step 1: Set up a new government agency — the Federal Financial Authority. The FFA would hire companies to verify, rate, appraise and disclose mortgage applications. These contractors would work exclusively for the FFA, eliminating any conflict of interest. Liar loans and no-doc loans would be history.

Mutual Funds’ Role

The government would neither endorse nor accept responsibility for appraisals and ratings, and would let borrowers add privately purchased appraisals and ratings to disclosures.

Step 2: Limit buyers of home loans to doing so only through closed-end mortgage mutual funds. If a fund manager chooses poor mortgages, the value of his fund’s shares will fall, but the fund itself won’t go broke. Mortgage defaults will never again lead to financial-sector collapse.

The mutual funds would sell shares up to a closing date, use the proceeds to buy mortgages of the type in which they are specializing, and pay out the cash flow to stockholders. The funds would terminate when the loans mature.

Step 3: Establish an electronic mortgage auction and require mutual funds to purchase loans at this market so borrowers receive the best price (lowest interest rate).

Liquid Market

While mutual funds would buy and hold mortgages, their shares would sell in a secondary market so investors would have liquidity even though their funds’ assets were illiquid. For this secondary market to operate well, it would need to maintain real-time disclosure of all information relevant to the valuation of a given loan.

The mutual funds would, themselves, represent securitizations. But unlike yesterday’s complex mortgage securities, investors would know what they were buying.

Investors seeking safety would purchase funds specializing in loans with larger down payments and shorter maturities. Investors seeking higher returns at the price of more risk would buy funds focused on mortgages with low down payments and longer maturities.

It’s time for the government to move from making home loans to making a mortgage market that works. The limited purpose mortgage system does both.

Laurence Kotlikoff is professor of economics at Boston University, president of Economic Security Planning Inc. and author of Jimmy Stewart Is Dead.” Richard Field is managing director of TYI LLC, a disclosure compliance database and risk- management firm. The opinions expressed their own.)

More at: http://www.bloomberg.com/news/2011-01-14/how-to-fix-mortgage-mess-in-three-steps-commentary-by-laurence-kotlikoff.html

Look At Who Is Number 2 Here! Yep, State And Local Government, The Federal Government Comes In At Number 4

Posted By on January 16, 2011

More On The New WikiLeaks Exposures To Come

Posted By on January 16, 2011

Expected tomorrow…. “Approximately 40 politicians” will be included in the next WikiLeaks release.

The list will include “high net worth individuals, multinational conglomerates and financial institutions – hedge funds”.  They are said to be “using secrecy as a screen to hide behind in order to avoid paying tax”. They come from the US, Britain, Germany, Austria and Asia – “from all over”.

What’s Up Doc……

Posted By on January 15, 2011

Wikipedia is 10 years old!  

The site is currently the fifth-most visited Website on the Internet, with about 400 million people visiting each day, looking up information on just about anything — science, math, languages, art, culture, company histories and entries on sports.  

What is extraordinary about this free encyclopedia, which contains more than 17 million articles in more than 270 languages, is that it is written, edited and self-regulated almost entirely by unpaid volunteers.  Wikipedia is overseen by the not-for-profit Wikimedia Foundation, which occupies one floor in an anonymous office building in downtown San Francisco.

Did You Know…..On This Day In 1886 The Statue Of Liberty Was Born!

Posted By on January 14, 2011

From the one and only Art Cashin on the floor of The New York Stock Exchange!

On this day in 1886, a major American symbol was saved from almost not being a major American symbol.  Actually, it was saved from being saved and thus became a major American symbol.

We’ll restate all that in English….. 

Frederick Auguste Bartholdi had convinced the government of France (where he lived) to commission a sculpture (which he did for a living) of a statue of  liberty to award to the U.S. on the centennial of its Independence.  Bartholdi settled on a model (his mom who had a face that would curdle milk and a disposition to match – she reportedly drove Fred’s younger brother into an insane asylum).  As you further recall, Bartholdi had difficulty finding a way to keep the huge copper statue from toppling.  So he asked his pal, Al Eiffel, to design a metal skeleton for the statue.  (Eiffel later had a towering success with the concept.)

Anyway that brings us to this day in 1886.  So here you have the largest freestanding statue ever created (her index finger is 8 feet long).  But to hold such a colossus statue would require a large (and expensive) base or pedestal.  That was the problem.  Several groups who had promised funding for the pedestal failed to deliver.  No pedestal meant no statue – and worse an insult to the French.

To the rescue came corporate America.  One household name offered to pay for the base or pedestal.  All they sought was the right to carve their slogan or ad on the base.  The proposal was considered and then on this day rejected for some strange reason.  Who was this beacon of American enterprise who hoped to make the Lady with the Light a bit of billboard -it was the folks who made “Fletcher’s Castoria” that gentle laxative.  So much for comings and goings in America.  As you recall, Joseph Pulitzer then ran a campaign for “pennies from school children” that eventually financed the pedestal.

From AARP…..Ten Worst States For Retirement

Posted By on January 14, 2011

TopRetirements.com gave the most weight to three criteria: taxes, fiscal health and climate. Each of these factors is important, generally speaking, to retirees. On the financial front, high taxes can eat away at limited incomes, while poor fiscal health can force state governments to raise revenue or cut services. A warm climate is a natural draw for many retirees. If those three criteria aren’t among your top priorities, then the low rankings might not influence your decision.

Worst States for Retirement

 

 1) Illinois Poor fiscal health
 2) California Expensive, and its finances are in disarray
 3) New York Very high taxes, including property taxes
 4) Rhode Island Worst-off state in the Northeast; high taxes
 5) New Jersey Highest property taxes; pension issues
 6) Ohio High unemployment and cold winters
 7) Wisconsin High property taxes and frigid weather
 8) Massachusetts High cost of living and high property taxes
 9) Connecticut Taxes Social Security; high property taxes
10) Nevada Foreclosure capital of the world

Jeremy Grantham On Ignoring Eisenhower’s Warnings

Posted By on January 14, 2011

Wow!  How is it possible that we collectively seem to have forgotten this clear warning? It appears that Eisenhower’s worst fears have been realized and his remarkable and unique warnings given for naught.
 
“As we peer into society’s future, we – you and I, and our government – must avoid the impulse to live only for today, plundering, for our own ease and convenience, the precious resources of tomorrow.  We cannot mortgage the material assets of our grandchildren without risking the loss also of their political and spiritual heritage.”       Dwight Eisenhower                                 
        
          Courtesy of    Jeremy Grantham
 

California’s ‘Big One’ Could Be A Flood….Says USGS (U.S. Geological Survey)

Posted By on January 14, 2011

This may happen, but one would think it is more likely to be the by product of a devastating earthquake. 

California has more risk of catastrophic storms than any other region in the country – even the Southern hurricane states, according to a new study released Thursday.

The two-year study by the U.S. Geological Survey is the most thorough effort yet to assess the potential effects of a “worst-case” storm in California.

It builds on a new understanding of so-called atmospheric rivers, a focusing of high-powered winds that drag a fire hose of tropical moisture across the Pacific Ocean, pointed directly at California for days on end. The state got a relatively tame taste of the phenomenon in December.

The team of experts that developed the scenario can’t say when it will happen. But they do say it has happened in the past and is virtually certain to strike again.

“This storm, with essentially the same probability as a major earthquake, is potentially four to five times more damaging,” said Lucy Jones, USGS chief scientist on the study. “That’s not something that is in the public consciousness.”

Read more: http://www.mcclatchydc.com/2011/01/14/106803/californias-big-one-could-be-a.html#ixzz1B3z4prd3

Uncle Sam Says Read My Lips, This Doesn’t Count Toward Inflation

Posted By on January 14, 2011

The FAO (Food and Agriculture Organization of the United nations) said its food price index jumped 32 percent in the second half of 2010, soaring past the previous record set in 2008.

Strained by rising demand and battered by bad weather, the global food supply chain is stretched to the limit, sending prices soaring and sparking concerns about a repeat of food riots last seen three years ago.

Signs of the strain can be found from Australia to Argentina, Canada to Russia.  “Situations have changed. The supply/demand structures have changed,” Abbassian told the Australian Broadcasting Corp. last week. “Certainly the kind of weather developments we have seen makes us worry a little bit more that it may last much, much longer. Are we prepared for it? Really this is the question.”

Price for grains and other farm products began rising last fall after poor harvests in Canada, Russia and Ukraine tightened global supplies. More recently, hot, dry weather in South America has cut production in Argentina, a major soybean exporter. This month’s flooding in Australia wiped out much of that country’s wheat crop.

As supplies tighten, prices surge. The FAO said its food price index jumped 32 percent in the second half of 2010, soaring past the previous record set in 2008.

Banks Start To Loan To Consumers Again

Posted By on January 14, 2011

This can only go so far as the consumer is still over indebted and over taxed, while being hit with inflation (the government says no inflation) and flat earning power!  Debt (other than homes) still has to be payed back at some point and time. 

U.S. banks are expanding their loans to consumers for the first time since the credit crisis started and lending standards begin to loosen …..demand for new loans edges higher.

Washington Doesn’t Get It!

Posted By on January 14, 2011

This from Art Cashin on the floor of The New York Stock Exchange……..Basically the government doesn’t get it!   Last Friday, speaking in Germany, [European Central Bank President] Jean-Claude Trichet said it best: “Monetary policy responsibility cannot substitute for government irresponsibility.”

Fiery Fedspeak –There were some interesting comments from several Fed presidents yesterday.  One eye-opener came from a letter to the SEC written by Jeffrey Lacker, President of the Richmond Fed.  Mr. Lacker called for a shift to floating value for money market funds.  He fears that the public assumes that the Fed would bail out any fund that was in danger of “breaking the buck” (as they had done in the late fall of 2008).  Shifting to a floating rate would raise the risk of losing some of your principal.  That, most likely, would drive money out of the funds into the banking system where it would be insured.  This bears watching.

The most eye-popping Fed comments were contained in a speech delivered in New York City by Richard Fisher, President of the Dallas Fed.  Among other things, he suggested that QE2 should be the end of the line for monetary policy.  He also took a critical view of Congress and of the lack of business acumen at the White House.  I think it is a uniquely candid and powerful speech.  Go the Dallas Fed website and read the whole thing.  It will be a worthwhile exercise.

Just to whet your appetite, here are a couple of samples:

I have been outspoken about the limits of monetary policy as a salve for the nation’s fiscal pathology. The Fed has done much, in my words, to provide the bridge financing until the new Congress gets to work restructuring the tax and regulatory incentives American businesses need to confidently expand their payrolls and capital expenditures here at home.

The Federal Reserve has held rates to nil. We have expanded our balance sheet to unprecedented levels. After much debate?which included strong concern expressed by one member with a formal vote and others, like me, who did not have voting rights in 2010?the FOMC collectively decided in November to temporarily undertake a program to purchase U.S. Treasuries that, when added to previous policy initiatives, roughly means we are purchasing the equivalent of all newly issued Treasury debt through June.

By this action, we have run the risk of being viewed as an accomplice to Congress’ fiscal nonfeasance. To avoid that perception, we must vigilantly protect the integrity of our delicate franchise. There are limits to what we can do on the monetary front to provide the bridge financing to fiscal sanity. Last Friday, speaking in Germany, [European Central Bank President] Jean-Claude Trichet said it best: “Monetary policy responsibility cannot substitute for government irresponsibility.”

The entire FOMC knows the history and the ruinous fate that is meted out to countries whose central banks take to regularly monetizing government debt. Barring some unexpected shock to the economy or financial system, I think we have reached our limit. I would be wary of further expanding our balance sheet. But here is the essential fact I want to emphasize today: The Fed could not monetize the debt if the debt were not being created by Congress in the first place.

And later:

I don’t believe this has much to do with the Fed. None of my business contacts, large or small, publicly held or private, are complaining about the cost of borrowing, the lack of liquidity or the availability of capital. All express concern about taxes, regulatory burdens and the lack of understanding in Washington of what incentivizes private-sector job creation. All are stymied by a Congress and an executive branch that have appeared to them to be unaware of, if not outright opposed to, what fires the entrepreneurial spirit. Many have begun to feel that opportunities for earning a better and more secure return on investment are larger elsewhere than here at home.

Bad Seats Hey Buddy…..Front Row, Behind A Pole….You Get The Point

Posted By on January 13, 2011

Self explanatory.   A picture is worth…$1.230 Trillion dollars!

Giffords Update….Doctor: Giffords Passes ‘Major Milestone’

Posted By on January 13, 2011

This is an amazing story!

TUCSON, Ariz. — U.S. Rep. Gabrielle Giffords has passed a “major milestone” on her recovery from a gunshot wound to the head, doctors said Thursday.

The Arizona congresswoman has been sitting up, dangling her legs on the edge of the hospital bed and moving her limbs in response to commands. That’s after she spontaneously opened her eyes during visits with her colleagues Wednesday night. She is able to lift both of her legs on command and is yawning and starting to rub her eyes, doctors said.

“She’s becoming more aware of her surroundings,” trauma chief Dr. Peter Rhee said during a news conference at the University Medical Center in Tucson, Ariz., Thursday.

The next milestone will be removing her breathing tube, and perhaps have her sit in a chair on Friday, said Rhee, who has treated soldiers in Iraq and Afghanistan. Doctors want to make sure Giffords doesn’t regress and are watching for pneumonia and blood clots.

Brazil Hit With Torrential Rain

Posted By on January 13, 2011

The storms, which began on Tuesday, sent tons of red mud and torrents of water rushing down mountainsides into homes.  At least 348 people have been killed in the last 24 hours as torrential rain triggered mudslides that smashed through towns around Rio de Janeiro in Brazil.  Heavy rains earlier in the week killed 13 people in Sao Paulo state, raising the death toll in southern Brazil to 361.

House Set To Vote On Repeal Of Healthcare Plan

Posted By on January 13, 2011

This will be interesting to say the least!  Even if repeal were to pass the Congress, Obama has said he would veto it.

2011 Starts With $4.2 Billion In OUTFLOWS From Domestic Equity Funds

Posted By on January 13, 2011

ICI just revised the last two data points of 2010 which were originally inflows, to one outflow and one minimal inflow.  

Looking at last week’s flows, the first of the new year 2011 starts with an equity outflow of $4.2 billion and was the largest one week outflow since early October!

The Newest WikiLeak Threats….Here We Go!

Posted By on January 12, 2011

In this week’s New Statesman, WikiLeaks founder Julian Assange talks to John Pilger about his “insurance” files on Rupert Murdoch and Newscorp – and which country is the real enemy of WikiLeaks.

To read the entire feature, pick up a copy of this week’s New Statesman available on newsstands from tomorrow. Some highlights of the piece are below:

The “technological enemy” of WikiLeaks is not the US – but China, according to Assange.

“China is the worst offender,” when it comes to censorship, says the controversial whistleblower. “China has aggressive and sophisticated interception technology that places itself between every reader inside China and every information source outside China. We’ve been fighting a running battle to make sure we can get information through, and there are now all sorts of ways Chinese readers can get on to our site.”

On Bradley Manning – the US soldier accused of leaking the diplomatic cables to WikiLeaks – Assange says: “I’d never heard his name before it was published in the press.” He argues that the US is trying to use Manning – currently stuck in solitary confinement in the US – to build a case against the WikiLeaks founder:

“Cracking Bradley Manning is the first step,” says the Australian hacker. “The aim clearly is to break him and force a confession that he somehow conspired with me to harm the national security of the United States.”

Such conspiracy would be impossible, according to Assange. “WikiLeaks technology was designed from the very beginning to make sure that we never knew the identities or names of people sub¬mitting material. We are as untraceable as we are uncensorable. That’s the only way to assure sources they are protected.”

Yesterday, Assange’s lawyers warned that if he is extradited to America, he could face the death penalty – for embarrassing the leaders of the US government. “They don’t want the public to know these things and scapegoats must be found,” says Assange.

And despite the pressure the website has been under, reports of trouble at WikiLeaks are greatly exaggerated, claims Assange.

“There is no ‘fall’. We have never published as much as we are now. WikiLeaks is now mirrored on more than 2,000 websites. I can’t keep track of the spin-off sites – those who are doing their own WikiLeaks… If something happens to me or to WikiLeaks, ‘insurance’ files will be released.”

The contents of these files are unknown, but, according to Assange, “[t]hey speak more of the same truth to power.” It is not just government that should be worried about the content of these files, however. “There are 504 US embassy cables on one broadcasting organisation and there are cables on Murdoch and News Corp,” says Assange.

The attempts by the US to indict Assange should worrying the mainstream press, he adds.

“I think what’s emerging in the mainstream media is the awareness that if I can be indicted, other journalists can, too,” says Assange. “Even the New York Times is worried. This used not to be the case. If a whistleblower was prosecuted, publishers and reporters were protected by the First Amendment, which journalists took for granted. That’s being lost.”

More at: http://www.newstatesman.com/blogs/the-staggers/2011/01/china-wikileaks-assange

Commodity Food Grain Prices Roaring On Grain Crop Outlook Data

Posted By on January 12, 2011

We’ve been talking about this, it’s called food inflation and it’s about to get out of hand over the next year because of adverse weather……Grain prices soared after the USDA made a deep cut in its outlook for global supplies. 

Well…This Is A Deep Subject, No Pun Intended!

Posted By on January 11, 2011

Rising food inflation sparked violence across the Middle East and South Asia over the weekend.  Why?…. Demonstrators were protesting the high cost of staple commodities like sugar, rice and milk.
 
The outbursts have triggered fears that the world is due for a revisit of the 2008 food protests that rocked many countries. Food prices are now at all time highs with weather problems and sunspots still center stage.  This could get real interesting by spring time!

Say What…..The Current Tax Code Has 60,000 Pages Of Stuff Nobody Can Figure Out

Posted By on January 11, 2011

Are they kidding….No!   There are 60,000 pages in the current tax code…..Tax reform anybody?  How many college educated people do you know that do their own taxes, let’s rephrase that…how many have a tax professional do the job, go ahead…raise your hands….anybody out there without a hand up? How about that!

WikiLeaks Going On The Offensive

Posted By on January 11, 2011

LONDON – WikiLeaks will step up its publication schedule of secret documents, founder Julian Assange announced Tuesday, promising more revelations based on the group’s stash of confidential U.S. embassy cables and other leaks.  “We are stepping up our publishing for matters related to Cablegate and other materials, “Those will shortly be occurring through our newspaper partners around the world — big and small newspapers and some human rights organizations.”

Virginia Creates Subcommittee To Study Monetary Alternatives In Case Of Terminal Fed “Breakdown”, Considers Gold As Option

Posted By on January 10, 2011

If this is plan B, inquiring minds wonder what plan C would look like!

In what may one day be heralded as the formal proposal that proverbially started it all, the Commonwealth of Virginia introduced House Resolution No. 557 to establish a joint subcommittee to “to study whether the Commonwealth should adopt a currency to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System.” In other words, Virginia will study the fallback plan of a “timely adoption of an alternative sound currency that the Commonwealth’s government and citizens may employ without delay in the event of the destruction of the Federal Reserve System’s currency” and avoid or “at least mitigate many of the economic, social, and political shocks to be expected to arise from hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System.” Most importantly as pertain to the currency in question, “Americans may employ whatever currency they choose to stipulate as the medium for payment of their private debts, including gold or silver, or both, to the exclusion of a currency not redeemable in gold or silver that Congress may have designated ‘legal tender’.”

Whether this resolution will ever get off the ground, and actually find that the world is at great risk should gold not be instituted as a backstop currency, is irrelevant. The mere fact that it is out there, should provide sufficient impetus to other states to consider the ultimate Plan B.

We would urge all legislators carefully read this resolution by clicking below.

            http://lis.virginia.gov/cgi-bin/legp604.exe?111+ful+HJ557+pdf

Surgeons Hopeful For Gifford on Day Two

Posted By on January 10, 2011

No change is good,” says a neurosurgeon who treated the congresswoman. Doctors are monitoring her brain for swelling, which usually peaks three days after an injury.

Rep. Gabrielle Giffords” condition essentially remained unchanged overnight Sunday, doctors at University Medical Center in Tucson said in a Monday news conference.

“No change is good, and we have no change,” said Dr. Michael Lemole, chief of neurosurgery at the medical center and one of the neurosurgeons who cared for Giffords after she was shot Saturday. “She is still following basic commands, and her CAT scans are showing no progression of swelling. Every day that goes by, we are slightly more optimistic.”

Lemole said swelling of the brain typically peaked on the third day after an injury, which would be Tuesday. After that, “we can breathe a collective sigh of relief.”

Surgeons removed most of the left side of her skull Saturday to prevent swelling from compressing her brain and cutting off the flow of blood to her brain stem, which would almost certainly be fatal.

The 9-millimeter bullet fired at her entered the back of her skull and exited through the front, passing only through the left hemisphere and, fortunately, missing the crucial area connecting the two hemispheres of the brain.

More at: http://www.latimes.com/news/nationworld/nation/la-na-arizona-shooting-medical-20110111,0,1714259.story

Newt Gingrich Pushing Bill To Allow States To File Bankruptcy Allowing Them To Renegotiate Pension And Benefit Obligations

Posted By on January 10, 2011

Push will turn into a shove…..Turn out the lights, the party is over!  

Meredith Whitney’s prediction, which everyone was quick to mock and ridicule, is about to come back with a vengeance.  State and Local finances are at risk.  This idea is likely to pick up steam along the way.

Some unpleasant news for pensioned workers who believe that their insolvent state will be able to afford ridiculous legacy pensions in perpetuity. According to Pensions and Investment magazines, Newt Gingrich is pushing for legislation that will allow insolvent states to be taken off bailout support and file bankruptcy, in the process allowing them to renege on pension and other benefit obligations promises to state workers.

From P&I: In Part

Proponents of the measure — which include Americans for Tax Reform, a Washington lobby group that fights tax increases — said the legislation is desperately needed to clear the way for struggling states to slash costs before they go belly up, and should be regarded as a preemptive move that could preclude the need for massive federal bailouts.

“It’s in the short-term and long-term interests of government workers and taxpayers to start those reforms now, rather than having to pick up the pieces after a crash landing,” ATR President Grover Nor-quist said in an interview.

“We are working with people inside and outside of Congress on this issue,” said Joe DeSantis, a spokes-man for Mr. Gingrich, whom Mr. DeSantis said is considering a bid to be the Republican presidential candidate in 2012.

“This idea carries major negative financial implications for the states, their creditors and the companies that do business with them,” said Charles Loveless, director of legislation for the American Federation of State, County and Municipal Employees, Washington. “A state going into bankruptcy would send shock waves through the states and could very well undermine our fragile national economic recovery,” he said.

But Mr. Norquist said that, assuming the proposal becomes law, not every state would file for bankruptcy — a right that municipal governments already have under Chapter 9 of the U.S. Bankruptcy Code.

“If you don’t have this (a state bankruptcy process), you have New York, Illinois and California running off the rails because there’s no way to fix their problems … They’ve got these contracts with government workers that you can’t alter,” Mr. Norquist said.
 
 

 

The StatedTruth.com Celebrates Its 2,100’th Posting

Posted By on January 9, 2011

Brazil Warns Of Luming World Trade War

Posted By on January 9, 2011

This is why Gold and Silver has been sought by the smart money!

Brazil has warned that the world is on course for a full-blown “trade war” as it stepped up its rhetoric against exchange rate manipulation.

Guido Mantega, finance minister, told the Financial Times that Brazil was preparing new measures to prevent further appreciation of its currency, the real, and would raise the issue of exchange-rate manipulation at the World Trade Organisation and other global bodies. He said the U.S. and China were among the worst offenders.

“This is a currency war that is turning into a trade war,” Mr Mantega said in his first exclusive interview since Dilma Rousseff, Brazil’s new president, took office on January 1. His comments follow interventions in currency markets by Brazil, Chile and Peru last week and recent sharp rises in the Australian dollar, the Swiss franc and other currencies amid an exodus of investment from the sluggish economies of the U.S. and Europe.

The actions have renewed interest in how to manage destabilising flows of speculative money, with the International Monetary Fund suggesting last week that the world needed rules to govern the use of capital controls.

More at:  http://www.ft.com/cms/s/0/6316eb4a-1c34-11e0-9b56-00144feab49a.html#axzz1AavK2SlT

Gifford’s Shooter….Here’s A Look At The Loughner Complaint

Posted By on January 9, 2011

Loughner Complaint

Sunday Evening Update: Congress Woman Gifford’s Condition

Posted By on January 9, 2011

A second person sought in Tucson shootings is said to be cleared by authorities…..Was cab driver of the shooter.

Reporting from Los Angeles and Tucson —

The bullet that passed through U.S. Rep. Gabrielle Gifford’s  brain tore through only one hemisphere before exiting, missing the crucial central parts of the brain that control most bodily and cognitive functions.

The bullet entered through the back of her head, passed through the left hemisphere of her brain and exited just above her left eye, Dr. Michael Lemole, chief of neurosurgery at University Medical Center in Tucson, said Sunday at a news conference

Giffords is being kept in a medically induced coma and is not able to speak because she is intubated, but when she is periodically awakened, she is able to respond to simple commands, such as squeezing her hand and showing two fingers.

“We are very encouraged by that,” Lemole said. Her ability to follow those simple commands “implies a very high level of functioning in the brain,” he said.

“If she can hear requests and move her fingers, particularly showing two fingers and raising her thumbs, her receptive language functions are good and her hearing is intact,” said Dr. Neil A. Martin, chairman of neurosurgery at UCLA’s Reagan Medical Center.

“The best thing is if she is asked to do this and can raise her right fingers and thumb,” which are controlled by the brain’s left hemisphere, he said. “That’s the first thing a neurosurgeon would want to know.”  “This is about as good as it is going to get,” said Dr. Peter Rhee, a trauma surgeon, addressing the outcome of her trauma treatment.

Four other patients who suffered critical wounds were moved out of intensive care.

Looks Like The 40 Years Ago Technology Dropped Off On The Moon Back In 1971 Wasn’t So Bad After All!

Posted By on January 9, 2011

Wow….One wonders what kind of semiconductor sensors these were back in the day.  The first personal computer wasn’t even invented until 1972,  Xerox claims it was a Xerox PARC (ALTO), the Apple verson was invented in 1976, the Apple I, it then became, yep the Apple IIe.  So now you know!

Signals from seismic sensors left on the lunar surface by Apollo astronauts in 1971 have revealed that the Moon has a liquid core similar to Earth’s.

Scientists at Nasa applied contemporary seismological techniques to the data being emitted from sensors placed by their colleagues during the U.S. space program’s heyday.

Core knowledge: Nasa applied contemporary seismological techniques to data being emitted from sensors left on the Moon in 1971. Scientists now think the Moon possesses a solid, iron-rich inner core and a fluid, primarily liquid-iron outer core
Core Knowledge: Nasa applied contemporary seismological techniques to data being emitted from sensors left on the Moon in 1971. Scientists now think the Moon has a solid, iron-rich inner core and a fluid, primarily liquid-iron outer core

The new research suggests the Moon possesses a solid, iron-rich inner core with a radius of nearly 150 miles and a fluid, primarily liquid-iron outer core with a radius of roughly 205 miles.

Where it differs from Earth is a partially molten boundary layer around the core estimated to have a radius of nearly 300 miles.

The data sheds light on the evolution of a lunar dynamo – a natural process by which our Moon may have generated and maintained its own strong magnetic field.

Read more: http://www.dailymail.co.uk/sciencetech/article-1344980/Moon-liquid-core-just-like-Earth-reveal-sensors-left-lunar-surface-astronauts-40-YEARS-ago.html#ixzz1AZsBKP5a

Say It Isn’t So….Illinois Proposes To Raise State Income Taxes 75 Percent, From 3% To 5.25% For The Next Four Years

Posted By on January 9, 2011

Next up, California……Illinois just kicked the can down the road, there is no chance this tax will ever go back to where it was.  None, Not’a, Zippo, Zero……You get the point.

SPRINGFIELD, Ill. (CBS) – Gov. Pat Quinn and the leaders of both houses of the Illinois General Assembly have agreed on raising the state income tax.

If the bill passes, the plan would raise the personal income tax rate from the current 3 percent to 5.25 percent.  The increase is for four years. After that, the personal income tax would go down to 3.75 percent. 

The Democratic leaders in the Illinois General Assembly believe this income tax increase, a corporate tax hike, and a $1-per-pack tax increase on cigarettes will erase the state’s $15 billion budget deficit.   Dreamers!   Tax hikes are like roaches, there’s never just one.

Congress Woman Gabby Giffords Shot “Point Blank In The Head” At Town Hall Event In Tucson

Posted By on January 8, 2011

We think all would agree, this is a travesty.  Our liberties and freedom will become even more compromised as events like these change the landscape around us.

Ms. Giffords, 40, who the authorities said was the target of the attack, was said to be in very critical condition at the University Medical Center in Tucson, where she was operated on by a team of neurosurgeons. Dr. Peter Rhee, medical director of the hospital’s trauma and critical care unit, said that she had been shot once in the head, “through and through,” with the bullet going through her brain.

From Breaking News: Local media is reporting Congresswoman Gabby Giffords, a Democrat, was shot ‘point blank in the head at a town-hall like event in northern Tucson.

Update from NBC News:  Shooter in custody.   

2’nd Suspect Sought in Arizona Shooting

 

Update 2:Fox Phoenix: 12 people shot at Gabby Giffords community meeting. Congresswoman among the injured, while CNN reports 6 dead and 15 wounded.

Update 3:Reuters refuting the previous NPR news, and states that Giffords is still alive, in surgery, nine other patients brought in from shooting, per a hospital spokeswoman.

A gunman indiscriminately fired into a crowd at a gathering for Democratic representative Gabrielle Giffords outside a Safeway in Tucson, Arizona this morning. Giffords and at least five others were shot, according to NPR. The gunman was tackled and arrested.

Update: According  to an eyewitness, Steven Rayle who was on the scene at the time of the shooting and helped to hold the suspect down while waiting for police. Here’s what he said:

The event was very informal: Gifford had set up a table outside the Safeway and about 20-30 people were gathered to talk to her. The gunman, who may have come from inside the Safeway, walked up and shot Gifford in the head first. According to Rayle, who is a former ER doctor, Gifford was able to move her hands after being shot.

After shooting Gifford, the gunman opened fire indiscriminately for a few seconds, hitting a number of people, including a kid no older than 10 years old. Rayle hid behind a concrete pole and pretended to be dead. When the gunman apparently ran out of ammunition he attempted to flee, but a member of Gifford’s staff tackled him. The Rayle helped hold him down while waiting for the sheriff to arrive, about 15-or 20 minutes later. 30 minutes later the EMS came. Rayle said he was “stunned” by how long it took medical help to arrive.

The man was young, mid-to-late 20s, white clean-shaven with short hair and wearing dark clothing and said nothing during the shooting or while being held down. He didn’t look like a businessman, but more of a “fringe character,” our source said.

From Giffrods Wikipedia page:

Gabrielle Giffords (born June 8, 1970) is the U.S. Representative for Arizona’s 8th congressional district. She is a member of the Democratic Party.

She is the only member of the U.S. Congress whose spouse, astronaut Mark E. Kelly,  is an active duty member of the U.S. military.

Giffords is known as a strong proponent of solar energy as well as for her work to secure the border with Mexico.

Giffords was first sworn in as a congresswoman on January 3, 2007. She is the third woman in Arizona’s history to be elected to serve in the U.S. Congress. In her inaugural speech on the floor of the House of Representatives, Giffords said a comprehensive immigration reform package needs to include modern technology to secure the border, more border patrol agents, tough employer sanctions for businesses that knowingly hire illegal immigrants, and a guest-worker program. In her first month in office, Congresswoman Giffords voted to support increased federal funding for embryonic stem-cell research, raising the minimum wage, endorsing the recommendations of the 9/11 Commission, and supporting new rules for the House of Representatives targeting ethical issues. Giffords also voted to repeal subsidies to big oil companies and invest the savings in renewable energy. “We put our national security at risk by relying on oil from unstable regimes in the Middle East and Latin America,” Giffords told her colleagues in a speech on the House floor during debate on the Clean Energy Act. The act repeals $14 billion in subsidies given to oil companies and establishes a Strategic Renewable Energy Reserve to increase research in clean renewable energy, to develop greater energy efficiency, and to improve energy conservation.

Giffords is a member of the Blue Dog Coalition and the New Democrat Coalition.

Copyright © 2025 The Stated Truth