Best of the Week

Wednesday, August 13, 2008

Social Security Is Morally Bankrupt / Politics / US Economy

By: Alex_Epstein

August 14 marks Social Security's 73rd birthday--placing it eight years past standard retirement age. But, despite the program's $10-trillion-plus dollar shortfall, no politician dares to suggest that this disastrous program be phased out and retired; all agree on one absolute: Social Security must be saved. While the program may have financial problems, virtually everyone believes that some form of mandatory government-run retirement program is morally necessary.

Read full article... Read full article...

 

---

Wednesday, August 13, 2008

The Russia Georgian War and the Balance of Power / Politics / New Cold War

By: STRATFOR

The Russian invasion of Georgia has not changed the balance of power in Eurasia. It simply announced that the balance of power had already shifted. The United States has been absorbed in its wars in Iraq and Afghanistan, as well as potential conflict with Iran and a destabilizing situation in Pakistan. It has no strategic ground forces in reserve and is in no position to intervene on the Russian periphery. This, as we have argued, has opened a window of opportunity for the Russians to reassert their influence in the former Soviet sphere .

Read full article... Read full article...

 

---

Tuesday, August 12, 2008

Barack Obama's Poor Decisions a Threat to His Success / Politics / US Politics

By: Mike_Stathis

Let me clear about a few things. First, regardless who wins the upcoming presidential election, there will be no real change in America . In order to really understand why you have to know what is going on in this country. The problems extend much deeper than the current economic problems. Both parties are essentially the same and neither will address the real problems that are destroying America – free trade, the free market system and health care – because there is too much money to be made by the powerful forces that continue to exploit consumers, namely corporate America and their wealthy shareholders.

Read full article... Read full article...

 

---

Monday, August 11, 2008

Russia Georgia War - Washington Risks Nuclear War by Miscalculation / Politics / GeoPolitics

By: F_William_Engdahl

The dramatic military attack by the military of the Republic of Georgia on South Ossetia in the last days has brought the world one major step closer to the ultimate horror of the Cold War era—a thermonuclear war between Russia and the United States—by miscalculation. What is playing out in the Caucasus is being reported in US media in an alarmingly misleading light, making Moscow appear the lone aggressor. The question is whether George W. Bush and Dick Cheney are encouraging the unstable Georgian President, Mikhail Saakashvili in order to force the next US President to back the NATO military agenda of the Bush Doctrine. This time Washington may have badly misjudged the possibilities, as it did in Iraq , but this time with possible nuclear consequences.

Read full article... Read full article...

 

---

Monday, August 11, 2008

George Bush ‘Medaling' With Free Speech at the Olympics / Politics / US Politics

By: Walter_Brasch

President Bush sounded just like a liberal.
Yes, you read that right. Bush. Liberal. Same sentence.
At the new U.S. embassy in Beijing on the opening day of the Olympics, he said, “All people should have the freedom to say what they think.” Without even blinking, he also told the world, while directing his comments at the Chinese, “We strongly believe societies which allow the free expression of ideas tend to be the most prosperous and the most peaceful.”

Read full article... Read full article...

 

---

Sunday, August 10, 2008

How the U.S. Government Has Mismanaged the Country / Politics / US Stock Markets

By: Mike_Shedlock

The U.S. Government has brutally mismanaged the country. Sadly neither candidate is willing to take a stand on fiscal prudence. I asked Senator to Obama to take a stand, and to pick someone fiscally prudent as his Vice President in in my Open Letter To Obama .

I did receive a response, but only to inform me that he could not use the Senate Email system for such purposes. Instead, he asked me to re-send the Email to his campaign address.

Read full article... Read full article...

 

---

Thursday, August 07, 2008

Israel Telegraphing of Attack on Iran Just Psychological Warfare / Politics / Israel

By: John_Mauldin

Kudos to my friend George Friedman and his crew at Stratfor. If you didn't see the article in this week's Barron's about Stratfor's analysis of the geopolitical risk premium built into oil prices, you missed a really good piece of work. You've probably heard Napoleon's quote that "Amateurs discuss strategy, and professionals discuss logistics." If you want a perfect example of how that quote plays out for the markets, take a look at Stratfor's article below. It's precisely the kind of sober, fundamental research that makes Stratfor my invaluable source for geopolitical intelligence.

Read full article... Read full article...

 

---

Thursday, August 07, 2008

NHS Gives Death Sentence to Kidney Cancer Patients / Politics / NHS

By: N_Walayat

Patients that have spent there whole lives working and contributing towards NHS budgets so that others can benefit from free healthcare are now being hit in their late life illness with a not so NICE death sentence as the NHS focuses resources towards those with self inflicted illness such as alcohol, tobacco and drugs abuse.

Read full article... Read full article...

 

---

Wednesday, August 06, 2008

California Budget Showdown Over Wage Cut Defiance / Politics / US Debt

By: Mike_Shedlock

The budget crisis in California continues. In case you missed it, this will catch you up to speed.

California Synopsis

California's deficit is growing by about $1 billion a month.

Read full article... Read full article...

 

---

Sunday, August 03, 2008

Fake Inflation Statistics and the New World Order Heralds Class Warfare / Politics / New World Order

By: Richard_C_Cook

DANBY, VERMONT, August 3, 2008. The sunlight on the lake sparkles at dawn. As they have done for millions of years, the rounded tree-shrouded shoulders of the Green Mountains loom above the still waters. A loon calls from the next lake over. Who would guess that that not far from such serenity the world's most powerful nation was teetering on the brink of disaster? Though here in the bosom of nature one wonders why we should be surprised. Nations and empires come and then they go.

ARE THINGS REALLY THIS BAD?

Read full article... Read full article...

 

---

Saturday, August 02, 2008

United States Defeated in Iraq? / Politics / Iraq War

By: Mike_Whitney

The United States did not invade Iraq to "stop the violence". That was never the goal. So, it's foolish to say that the surge achieved its objective. It hasn't. Nor has the surge "created the space for a political solution"; another meaningless slogan regurgitated endlessly by the Bush troupe. The political agenda in Iraq has failed utterly. We know that because the Shiite-led government has asked the US to leave "as soon as possible" and for the Bush administration to set a "timetable for withdrawal". Not a "time horizon" as the administration-spinmiesters like to say; a Timetable, which means a fixed time when the United States must leave. So, if the Iraqi government has asked the US to leave; where is the "political solution" the surge was supposed to create? There isn't one. The mission has failed; it's as plain as day. This is not an arguable point.

Read full article... Read full article...

 

---

Thursday, July 31, 2008

The Humble Light Bulb: a victim of political stupidity and green zealotry / Politics / Climate Change

By: Gerard_Jackson

Every journalist in the land seems to be going ga-ga over the new "energy saver globe". This is the eco-friendly alternative to the devilish and grossly inefficient incandescent bulb. We are being incessantly told by our media mavens that the new alternative is cheaper in the long term than the old light bulb and that it will save just oodles and oodles of energy and that it would be irrational not to buy it.

Read full article... Read full article...

 

---

Wednesday, July 30, 2008

Bush Chief Economic Advisor Misleadingly Warns of Obama Recession / Politics / US Politics

By: Paul_L_Kasriel

In an op-ed piece in today's (July 29) Wall Street Journal , Michael Boskin, the chairman of the Council of Economic Advisers for President George Herbert Walker Bush, writes how Barack Obama's proposed selective tax rate increases will bring on the next recession. To be more accurate, he should have argued how Obama's tax policy might prolong the current recession.

Read full article... Read full article...

 

---

Monday, July 28, 2008

Barack Obama and his Fellow Democrats Adopt Hoovernomics / Politics / US Politics

By: Gerard_Jackson

It's true! The Democrats are now promoting Hoovernomics as presented by the economically illiterate Obama as the only way to create growth.. The brilliant Obama and his fellow imbeciles in Congress have declared that increased government spending and a massive tax rise is just what America needs. This is really funny because that's what the hapless Hoover also reckoned.

Read full article... Read full article...

 

---

Monday, July 28, 2008

Open Letter To Obama- How to Save America / Politics / US Politics

By: Mike_Shedlock

Dear Senator Obama. The US economy is in the worst economic crisis in decades, arguably since the great depression. Housing is collapsing, state budgets are in shambles, unemployment is soaring, and the US dollar is sinking.

Things are going to get even worse when the commercial real estate bust picks up steam. We have seen six bank failures already this year. There are 90 more banks on the problem list. Many of them will fail.

Read full article... Read full article...

 

---

Saturday, July 26, 2008

Obama Dazzles Old Europe while Freaky McCain Cries! / Politics / US Politics

By: Mike_Whitney

Barack Obama proved yesterday why November's presidential election will end in a 50-state sweep. John McCain has no chance. It's like George Bush climbing into the ring with Mike Tyson; one thundering left hook and the Crawford Caligula would be sprawled across the canvas in a pool of his own blood. "No mas"! The same fate awaits the crabby senator from Arizona. The polls are skewed to look like there's a political horse-race going on. There isn't. It's a complete rout. There's one well-toned thoroughbred striding from venue to venue electrifying the ever-increasing throngs, and one doddering, old mare limping towards the glue-factory. Someone should put a stop to it before McCain gets hurt.

Read full article... Read full article...

 

---

Friday, July 25, 2008

Britain in Freefall as Economy, Housing Market and Labour Votes Crash / Politics / UK Economy

By: Nadeem_Walayat

Labour lost the Glasgow East by-election in the early hours of this morning which was the third safest Labour seat in Scotland.This was by far the worst election result in Labour's history and suggests a collapse in Labour's vote and thus puts Gordon Browns Premiership in the firing line, strongly suggesting an leadership challenge will occur this year possibly at Septembers party conference.

Read full article... Read full article...

 

---

Friday, July 25, 2008

US National Debt Limit Raised Ahead of Budget Busting Bailout Legislation / Politics / US Debt

By: Peter_Schiff

With President Bush no longer threatening a veto, the subprime mortgage and Fannie and Freddie “bailout” bill is now sailing through Congress.  In anticipation of its enactment, Congress had the foresight to raise the national debt limit to $10.6 trillion.  Who says that politicians don't plan ahead? Read full article... Read full article...

 

---

Friday, July 25, 2008

Urgent Action Required to Prevent Passing of Bailout Economic Madness Bill / Politics / US Politics

By: Andy_Sutton

This week, the US Congress overwhelmingly passed HR3221. Perhaps as early as today, this measure will be taken up in the Senate. The President has pledged his blessing of the measure as well. While I am sure that there are many folks who are happy to see this relief package, I am not one of them. Touted as cornerstones of this bill are tax credits for first-time homebuyers and reduced property taxes for select others. However, this is just window dressing. Potential recipients of the ‘benefits' of this package must understand that they are not getting anything for free. What is given to the left hand will be taken from the right perhaps through higher taxes or perhaps through inflation. Most likely, though, it will be both.
Read full article... Read full article...

 

---

Thursday, July 24, 2008

Republicans Seeking to Extend Fed Powers to Maintain Power at All Costs / Politics / US Politics

By: Michael_Pento

I know it's hard to believe but Treasury Secretary Hank Paulson is a Republican. It was especially hard to keep that in mind during his appearances on the Sunday talk shows this weekend. His stated mission was to garner support for the bailout plans of Fannie Mae (NYSE: FNM ) and Freddie Mac (NYSE: FRE ). I hoped that he, being of the party that supports free markets, would have instead asked why the government is involved in the real estate market in the first place. I preferred that Treasury would have repudiated any further association with the GSEs and cease to allow them to raise new capital with the backing of the government.

Read full article... Read full article...

 

---