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Friday October 24, 2014
News Articles

Why Spain's Poor Fear Goldman Sachs
HP | Sonya Dowsett | 10/24/14

Last year Madrid's city and regional governments sold almost 5,000 rent-controlled flats to private equity investors including Goldman Sachs and Blackstone. At the time, the tenants were told their rental conditions would remain the same.

Jamila Bouzelmat is one of them. The mother of six lives in a four-bedroom flat on the outskirts of the Spanish capital that was bought jointly by Goldman and a Spanish firm. The 44-year-old said that until March her family paid 58 euros ($73) a month in rent out of her husband's 500-euro unemployment benefit. In April, her bank statement shows, her new landlords suddenly took 436 euros from her bank account. ... Read more

*Banker Suicides Return: DSK's Hedge Fund Partner Jumps From 23rd Floor Apartment
ZeroHedge | author | 10/24/14

The summer, thankfully, has been largely bereft of the dismal trend of bankers committing suicide, but as Bloomberg reports, Thierry Leyne, a French-Israeli banker and partner of Dominique Strauss-Kahn, the disgraced former chief of the IMF, was found dead Thursday after apparently taking his own life by jumping off the 23rd floor of one of the Yoo towers, a prestigious residential complex in Tel Aviv. This is the 16th financial services executive death this year. ...

    This is the 16th financial services executive death this year...
  1. William Broeksmit, 58-year-old former senior executive at Deutsche Bank AG, was found dead in his home after an apparent suicide in South Kensington in central London, on January 26th.
  2. Karl Slym, 51 year old Tata Motors managing director Karl Slym, was found dead on the fourth floor of the Shangri-La hotel in Bangkok on January 27th.
  3. Gabriel Magee, a 39-year-old JP Morgan employee, died after falling from the roof of the JP Morgan European headquarters in London on January 27th.
  4. Mike Dueker, 50-year-old chief economist of a US investment bank was found dead close to the Tacoma Narrows Bridge in Washington State.
  5. Richard Talley, the 57 year old founder of American Title Services in Centennial, Colorado, was found dead earlier this month after apparently shooting himself with a nail gun.
  6. Tim Dickenson, a U.K.-based communications director at Swiss Re AG, also died last month, however the circumstances surrounding his death are still unknown.
  7. Ryan Henry Crane, a 37 year old executive at JP Morgan died in an alleged suicide just a few weeks ago. No details have been released about his death aside from this small obituary announcement at the Stamford Daily Voice.
  8. Li Junjie, 33-year-old banker in Hong Kong jumped from the JP Morgan HQ in Hong Kong this week.
  9. James Stuart Jr, Former National Bank of Commerce CEO, found dead in Scottsdale, Ariz., the morning of Feb. 19. A family spokesman did not say whatcaused the death
  10. Edmund (Eddie) Reilly, 47, a trader at Midtown's Vertical Group, commited suicide by jumping in front of LIRR train
  11. Kenneth Bellando, 28, a trader at Levy Capital, formerly investment banking analyst at JPMorgan, jumped to his death from his 6th floor East Side apartment.
  12. Jan Peter Schmittmann, 57, the former CEO of Dutch bank ABN Amro found dead at home near Amsterdam with wife and daughter.
  13. Li Jianhua, 49, the director of China's Banking Regulatory Commission died of a sudden heart attack
  14. Lydia _____, 52 - jumped to her suicide from the 14th floor of Bred-Banque Populaire in Paris
  15. Julian Knott, 45 - killed wife and self with a shotgun in Jefferson Township, New Jersey
  16. Thierry Leyne, 48 - jumped from 23rd floor apartment in Tel Aviv.
Read more

*Gary Webb Was Right
HP | Marc Levin | 10/24/14

Once again the paper has decided to focus on discrediting a fellow journalist instead of deepening the analysis of the story he highlighted. Gary Webb put a spotlight on the CIA and the Reagan administrations unholy alliance with anti communist guerrilla groups and their supporters who were involved in drug trafficking.

Webb's reporting uncovered the story of how tons of cocaine were shipped into San Francisco by supporters of the CIA backed Contras and then distributed down to LA to a Nicaraguan named Danilo Blandon who sold it to a street dealer from South Central, Freeway Rick Ross. ... Read more

Climate Change Is Kicking the Insurance Industry's Butt
MotherJones | Tim McDonnell | 10/24/14

In the months after Hurricane Sandy, insurance companies spooked by rising seas dropped coastal policies in droves.

... Certainly the threat is real. Globally, average annual weather-related losses have increased more than tenfold in the last several decades, from $10 billion per year in the period 1974-1983 to $131 billion in 2004-2013, according to the report. The insurance industry is not keeping pace: The proportion of those damages that are insured is steadily declining. ... Read more

Democracy Now! U.S. and World News Headlines for Friday, October 24 [12:49]
*DN | Former Weapons Inspector in Iraq Raises Skepticism over Claims Iran Is Hiding Nuclear Weapons Tests (10/24/14) [14:44]
*DN | European Privacy in the Age of Snowden: We Need a Debate About What Intelligence Agencies Are Doing (10/24/14) [10:16]
*DN | Obama Promised a "World Without Nuclear Weapons," But May Now Spend $3 Trillion on Weapons Upgrades (10/24/14) [15:46]
*TRNN | Patrick Cockburn the author: Kurdish Fighters Regain Kobani... The coalition is not what it appears to be. (10/24/14) [12:55]
*TRNN | Hedges & Wolin: Can Capitalism and Democracy Coexist?, Part 3 (10/24/14) [22:22]
TRNN | Costas Lapavitsas speaks: The Financialization of Life, Part 2 (10/24/14) [12:44]
Stephan Cobert
Stephen Colbert | The New York Times reports that thousands of chemical weapons were found in Iraq, causing Stephen to party like it's 2003. (10/16/14) [5:05]
TYT | Good Ebola News: Dallas Nurse Cleared (10/23/14) [2:11]
TYT | Fox News To Chrissy Teigen: Stick To Having A Nice Ass (10/23/14) [4:17]
TYT | Young Hot Women Should Date, Not Vote, Says Fox News (10/23/14) [5:14]
Chris Hayes - All In
Chris Hayes | NYC Ebola patient had contact with 3 friends (10/23/14) [8:22]
Chris Hayes | Is Bellevue Hospital ready to handle an Ebola patient (10/23/14) [7:40]
Chris Hayes | Fmr. Surgeon General: everyone has to be on alert (10/23/14) [4:49]

Thursday October 23, 2014
News Articles

The High Price of Free Money: Now US Bankers Fear Financial, Social, or Political 'Instability'
ZeroHedge | author | 10/23/14

Something is changing about the perception of the Fed's free-money policies. While we've lambasted them for their nefarious effects on the real economy and the inequality they produce, Wall Street, the prime beneficiary, has been bombastically gung-ho about them. And the mainstream media have praised the Fed's "bold action," as it's called, at every twist and turn.

But now even Wall Street is getting cold feet. The official warning shot came from Fed Chair Janet Yellen, who admitted suddenly that "the extent of and continuing increase in inequality in the United States greatly concern me." Then bankers chimed in. FICO, which produces the infamous credit score, found in its latest survey of North American bank risk managers that 62% of them thought "the wealth gap poses a growing risk to the financial system."

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Without thriving consumers, the American economy that is so dependent on them will continue to languish. Just adding more consumers to the mix may increase overall consumer spending, and stirring up inflation may cover up the issue. But as the majority of individual consumers falls further behind, the risks of financial, social, or political "instability" might be looking ever more plausible to those bankers. ... Read more

Canada's parliament attacked, soldier fatally shot nearby
Reuters | Randall Palmer | 10/22/14

A gunman attacked Canada's parliament on Wednesday, with gunfire erupting near where Prime Minister Stephen Harper was speaking, and a soldier was fatally shot at a nearby war memorial, stunning the Canadian capital.

The gunman in the parliament building was shot dead, and Harper was safely removed in incidents that may have been linked to Islamic militants. ... Read more

The Science of Fox News: Why Its Viewers Are the Most Misinformed
AlterNet | Chris Mooney | 10/20/14

In June of 2011, Jon Stewart went on air with Fox News' Chris Wallace and started a major media controversy over the channel's misinforming of its viewers. "Who are the most consistently misinformed media viewers?" Stewart asked Wallace. "The most consistently misinformed? Fox, Fox viewers, consistently, every poll."

The author's goal here is to explore the underlying causes for this "Fox News effect"--explaining how this station has brought about a hurricane-like intensification of factual error, misinformation and unsupportable but ideologically charged beliefs on the conservative side of the aisle. ... Read more

Why Conservatives Opt for Propaganda Over Reality
AlterNet | Amanda Marcotte | 10/22/14

Conservatives are consuming a right-wing media full of lies and misinformation, whereas liberals are more interested in media that puts facts before ideology.

Pew Research set out to find what's behind what it considers the increasing political polarization of the United States; why the country is moving away from political moderation and becoming more and more divided between liberals and conservatives. Its first report on the phenomenon, which examines where people are hearing news and opinion in both regular and social media, shows that this is happening for very different reasons among people moving to the right than for people moving to the left.

Or that's the charitable way to put it. The less charitable way is to say Pew discovered that conservatives are consuming a right-wing media full of lies and misinformation, whereas liberals are more interested in media that puts facts before ideology. It's very much not a "both sides do it" situation. Conservatives are becoming more conservative because of propaganda, whereas liberals are becoming more liberal while staying very much checked into reality. ... Read more

Democracy Now! U.S. and World News Headlines for Thursday, October 23 [5:52]
*DN | Citizenfour: Inside Story of NSA Leaker Edward Snowden Captured in New Film by Laura Poitras (10/23/14) [9:51]
"At this stage I can offer nothing more than my word. I am a senior government employee in the intelligence community. I hope you understand that contacting you is extremely high risk ... This will not be a waste of your time." This was one of the first messages Edward Snowden wrote to filmmaker Laura Poitras beginning an exchange that helped expose the massive surveillance apparatus set up by the National Security Agency. Months later, Poitras would meet Snowden for the first time in a Hong Kong hotel room. Poitras filmed more than 20 hours of footage as Snowden debriefed reporters Glenn Greenwald and Ewen MacAskill. That footage -- most unseen until now -- forms the backbone of Poitras' new film, "Citizenfour." She joins us to talk about the film and her own experience with government surveillance. The film is the third installment of her 9/11 trilogy that also includes "My Country, My Country" about the Iraq War and "The Oath" about the U.S. military base at Guantánamo Bay, Cuba. Poitras' NSA reporting contributed to a Pulitzer Prize for Public Service awarded to The Guardian and The Washington Post.
*DN | Jeremy Scahill: Blackwater Execs Remain Free as Guards Convicted for Killing 14 Iraqis in Massacre (10/23/14) [7:47]
*TRNN | Hedges & Wolin: Can Capitalism and Democracy Coexist?, Part 2 (10/23/14) [25:14]
Journalist Chris Hedges interviews political philosopher Sheldon Wolin, who says democracy requires continuous opposition and vigilance by the citizenry.
*TRNN | Reese Erlich, Freelance Correspondent and Author of Inside Syria, says the irony in the support to the Kurds in Kobani is that PKK is considered a terrorist organization by the US (10/23/14) [25:14]
TYT | Colorado Teens Try To Run Away To Join ISIS (10/22/14) [7:27]
TYT | Canada Attacked - The Gun Law Role & The 'Terrorism' Question (10/22/14) [10:36]
TYT | Why This Man Scares Republicans Out Of Their Piss-Soaked Pants (10/22/14) [4:25]
TYT | Politico & BP Blatantly Conspire To Hide BP's Devastating Oil Spill (10/22/14) [5:17]

Wednesday October 22, 2014
News Articles

Canadian Capital On Lock Down As A Result Of Ongoing "Terrorist" Shooting Incident
ZeroHedge | author | 10/22/14

At least two people are injured, including a soldier, after shots were fired in the Parliamentary precinct in Ottawa on Wednesday morning; one shooter is dead and police suspect as many as two others are on the loose.

A dark-clothed gunman fired the shots just before 10 a.m. at the Canadian War Memorial, where a uniformed soldier was shot. The gunman then fled for Parliament Hill, where he unleashed more gunfire inside Centre Block. ... Read more
CBC | Ottawa Police Confirm at least 3 Separate Shooting Sites and Multiple Suspects (10/22/14) [0:57]

New poll from the Democratic firm Public Policy Polling. In its fifth trust poll, 35 percent said they trusted Fox news more than any other outlet, followed by PBS at 14 percent, ABC at 11 percent, CNN at 10 percent, CBS at 9 percent, 6 percent for MSNBC and Comedy Central, and just 3 percent for NBC.

Permanent Damage to US Economy-Michael Snyder
USAWathchdog.com | Greg Hunter | 10/22/14

Michael Snyder is a self-proclaimed "truth-seeker" and financial writer who says there is no recovery on Main Street, and we are not going to get one--ever. Snyder contends, "We've had permanent damage to the U.S. economy. ...

... By the time President Obama's eight years are over, we are on pace to approximately double the size of the national debt from $10.6 trillion to more than $20 trillion. What we are doing is absolute insanity. . . . We are going to suffer the consequences for so much of this. As far as the time window, I believe the next 12 to 15 months are going to be the most interesting time economically and as a nation as I have ever seen." ... Read more
USAWathchdog | Permanent Damage to US Economy-Michael Snyder (10/21/14) [25:36]
Click to zoom - for Article text

Apple Beats Top And Bottom Line, Repurchases Record $45 Billion In Stock In Fiscal 2014.

Harley Bassman: "The Fed Is Trying To Land A Jumbo Jet On A Football Field"
ZeroHedge | author | 10/22/14

In Harley Bassman latest news letter, in which he picks up on his favorite topic: implied volatility in rates, and the arbitrage opportunities it provides courtesy of epic risk mispricing in the current quote-unquote market, courtesy of the Fed's 6 year+ centrally-planned manipulation of, well, everything. ... Read more

Wall Street Is One Sick Puppy - Thanks To Even Sicker Central Banks
ZeroHedge | author | 10/22/14

Last Wednesday the markets plunged on a vague recognition that the central bank promoted recovery story might not be on the level. But that tremor didn't last long.

Right on cue the next day, one of the very dimmest Fed heads--James Dullard of St Louis---mumbled incoherently about a possible QE extension, causing the robo-traders to erupt with buy orders. By the end of the day Friday, with the market off just 5% from its all-time highs, the buy-the-dips crowd was back, proclaiming that the "bottom is in". This week the market has been energetically retracing what remains of the October correction. ... Read more

Democracy Now! U.S. and World News Headlines for Wednesday, October 22 [7:01]
*DN | In U.N. Speech, Noam Chomsky Blasts United States for Supporting Israel, Blocking Palestinian State (10/22/14) [18:23], Part 2 [15:47]
How is Money Made | How Much Debt Do We Have
*Demonocracyinfo | US Debt in Physical $100 bills [2:10]
*Mike Maloney | How is Money Made (and Who Benefits) [29:34] (start at 1:11)
*TRNN | Hedges & Wolin: Can Capitalism and Democracy Coexist? (10/22/14) [20:25]
Journalist Chris Hedge interviews political philosopher Sheldon Wolin, who says democracy requires continuous opposition and vigilance by the citizenry.
*TRNN | Costas Lapavitsas speaks: The Financialization of Life (10/22/14) [16:34]
TYT | Bill O'Reilly Explains Dem Voting - It's Not Him, It's You (10/21/14) [5:51]
TYT | Sarah Palin's PAC Is A Massive Million Dollar Scam (10/21/14) [4:14]
TYT | Corrupt Congressman Threatens Critics With More Corruption (10/21/14) [6:32]
TYT | Republicans Love Latinos, Except When Hating Them Gets More Votes (10/21/14) [5:53]
TYT | Obamacare Worst Nightmare Hilariously Coming True For Republicans (10/21/14) [3:11]
Visualize Your Future
National Debt
*Demonocracyinfo | US Debt in Physical $100 bills [2:10]
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FED - Federal Reserve
The Federal Reserve Explained In 7 Minutes [7:06]
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Crash Course - Debt, Chp 13 [14:19]
Banksters | FED | Money | Debt
*Mike Maloney | The Biggest Scam In The History Of Mankind - Hidden Secrets of Money 4 [29:34]
*Brookley Born: Derivatives still a ticking time bomb! Sept 2011 () [11:42]
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*Derivatives Held by the Different Banks
*DN | All the President's Bankers: Nomi Prins on Secret History of Washington-Wall Street Collusion (04/08/14) [17:47], Part 2 [4:17]
Quarterly Report on Bank Derivatives Activities.pdf
OCC's Quarterly Report on Bank Trading and Derivatives Activities.pdf

Tuesday October 21, 2014
News Articles

Another Month, Another Global Heat Record Broken
AP & HP | Seth Borenstein | 10/20/14

Earth is on pace to tie or even break the mark for the hottest year on record, federal meteorologists say. That's because global heat records have kept falling in 2014, with September the latest example.

The National Oceanic and Atmospheric Administration announced Monday that last month the globe averaged 60.3 degrees Fahrenheit (15.72 degrees Celsius). That was the hottest September in 135 years of record keeping.

It was the fourth monthly record set this year, along with May, June and August. ... Read more

Tornadoes Increasingly Coming In Swarms In United States, Study Says
Reuters & HP | Will Dunham | 10/16/14

Tornadoes in the United States are increasingly coming in swarms rather than as isolated twisters, according to a study by U.S. government meteorologists published on Thursday that illustrates another trend toward extreme weather emerging in recent years.

Looking at tornado activity over the past six decades, the study in the journal Science found the total number of tornadoes annually remaining rather steady, averaging 495. Since the 1970s, there have been fewer days with tornadoes but plenty more days with many of them, sometimes dozens or more.

On the list of the 10 single days with the most tornadoes since 1954, eight have occurred since 1999, including five since 2011. That year alone had days with 115, 73, 53 and 52 twisters. ... Read more

California Drought Worsened By Climate Change, Scientists Say
Reuters | Joaquin Palomino | 09/29/14

California's catastrophic drought has most likely been made worse by man-made climate change, according to a report released Monday by Stanford University, but scientists are still hesitant to fully blame the lack of rain on climate change.

The research, published in the Bulletin of the American Meteorological Society as part of a collection of reports on extreme weather events in 2013, is one of the most comprehensive studies linking climate change and California's ongoing drought, which has caused billions of dollars in economic damage. ... Read more

"Anti-Petrodollar" CEO Of French Energy Giant Total Dies In Freak Plane Crash In Moscow
ZeroHedge | author | 10/21/14

Three months ago, the CEO of Total, Christophe de Margerie, dared utter the phrase heard around the petrodollar world, "There is no reason to pay for oil in dollars," as we noted here. Today, RT reports the dreadful news that he was killed in a business jet crash at Vnukovo Airport in Moscow after the aircraft hit a snow-plough on take-off. The airport issued a statement confirming "a criminal investigation has been opened into the violation of safety regulations," adding that along with 3 crewmembers on the plane, the snow-plough driver was also killed. ... Read more

Europe Demands Banks Hand Over Their Lunch Money Following Swiss Franc Libor Rigging
ZeroHedge | author | 10/21/14

Having confirmed that RBS, UBS, JPMorgan,,and Credit Suisse operated a cartell to manipulate bid-ask spreads of Swiss Franc libor, the European Commission has unleashed unmerciless vengeance on these law-breaking institutions:

JPMorgan fined EUR 72.2 Million, UBS fined EUR 12.7 Million, Credit Suisse fined EUR 9.17 Million, & RBS Nothing (for whistle-blowing).

The commission found that these four entities 'influenced' interest rate derivatives prices between March 2008 and July 2009 - probably the most volatile and price-sensitive period of American financial history.. and they get fined "an hour's pay?" Nothing ever changes... Read more

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Democracy Now! U.S. and World News Headlines for Tuesday, October 21 [13:26]
*DN | After Ignoring ISIS Assault on Kobani, U.S. Launches Major Strikes & Arms Turkey's Kurdish Foes (10/21/14) [15:06]
*DN | Former U.N. Special Rapporteur Richard Falk on the Legitimacy of Hope in the Palestinian Struggle (10/21/14) [16:19]
John Oliver
HBO | Last Week Tonight with John Oliver: Translators (10/19/14) [16:06]
HBO | Last Week Tonight with John Oliver: Supreme Court (10/19/14) [5:39]
TRNN | Journalist Sharif Kouddous: What direction is Egypt headed, several years after the Revolution? (10/20/14) [24:59]
TRNN | Kurt Lambeck, Professor of Geophysics: Study Finds Sea Levels Rising at an Unprecedented Rate (10/20/14) [10:44]
TYT | Panic Over Ebola Outbreak Goes Viral In America (10/20/14) [7:37]
TYT | Could You Forgive Him Like Michelle Knight Did? (10/20/14) [6:17]
TYT | Citizen Pulls Over Cop, Demands ID & It's Amazing (10/20/14) [10:44]
*TYT | White Privilege Even Applies To Riots - The Proof Is In The Pumpkins (10/20/14) [9:45]
TYT | CNN Axes 150 Jobs & Several Shows In 'Painful Week' (10/20/14) [5:11]
TYT | Chuck Todd Asks A Question Even A Journalist Would Ask (10/20/14) [3:12]
TYT | Russell Brand Must Choose: Trump, Hannity Or Piers Morgan? His Answer Is Perfect (10/20/14) [2:54], Part 2 [1:59]
TYT | Study Proves 70% Of Art Sold Are Fakes (10/19/14) [6:50]

Monday October 20, 2014
News Articles

Living The Grecovery Dream: Two Jobless Parents, Two Kids, One Cat All Living In A Car
ZeroHedge | author | 10/20/14

This is an article of a Greek Family that is living in their car. But, it reminds us that it could be anyone of us if we suddenly have an life changing crisis. We all need help sometime in our life!

Squeezed between steering wheel, handbrake, door and dashboard, Katerina reads in her history book, takes notes for school. Next to her, on the driver's seat, cat Eddy stares right in the camera lens. It may look like a cute snapshot on a sunny day, if it wasn't for a sad detail: a withering spring stuck in a roll of toilet paper. A distinctive memory of a former normal life that turned into a grim reality for a family of four. ... Read more

The Conference Board forecasts that China's annual growth will slow to an average of 5.5% between 2015 and 2019, compared with last year's 7.7%. It will downshift further to an average of 3.9% between 2020 and 2025, according to the report.

Why Chinese Growth Forecasts Just Crashed To A Paltry 3.9% - And Are Going Even Lower - In One Chart
ZeroHedge | author | 10/20/14

Up until a few years ago, conventional wisdom was that China would grow at nearly double digits as long as the eye could see. Then, however, something happened, and China's 9% growth became 8%, then 7% and even lower, as suddenly the Politburo made it quite clear China would not chase growth at any cost, especially when the cost is trillions in bad debt and other NPLs, as we have explained time and again. The collapse in Chinese growth expectations is shown best on the following formerly hockeysticking chart of IMF's revised Chinese growth projections which has completely collapsed in the past few years. ... Read more
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60Minutes | China's Ghost Cities - 60 Minutes Australia (07/02/13) [10:49]
Dateline | China's Empty Cities (09/10/13) [15:00]

BAN | Exporting Harm: The High-Tech Trashing of Asia (2013) [23:03]
Dateline | E-Waste Hell (09/25/11) [17:44]
Democracy Now! U.S. and World News Headlines for Monday, October 20 [13:04]
DN | "Women Are Being Driven Offline": Feminist Anita Sarkeesian Terrorized for Critique of Video Games (10/20/14) [20:01]
Bill Moyers
Bill Moyers | Pulitzer Prize-winning author Marilynne Robinson talks to Bill about what the title character of her new book Lila, says about the state of democracy in America. (10/17/14) [25:16]
Senator Elizabeth Warren
Sen. Elizabeth Warren: Banking Hearing on Income Inequality (09/17/14) [10:09]
Sen. Elizabeth Warren: Sen. Warren asks Fed Chair Yellen about efforts to end TBTF (To Big To Fail) (07/15/14) [7:30]
California Drought
Stunning Scenes From California's Central Valley Drought, New Yorker
*TRNN | Deepa Kumar: Culture of the National Security State, Part 5 (10/19/14) [16:54]
*TYT | Raising The Minimum Wage Would Save Billions (10/19/14) [6:43]
*TYT | Military Selling Planes For Scrap Metal (10/19/14) [5:19]
TYT | Honest Politician Reveals The Worst Part Of The Job - 'We Hate It' (10/19/14) [4:06]
TYT | On Obama: Elizabeth Warren vs Howard Fineman (10/19/14) [10:23]
Chris Hayes
U.S. Army Col. Lawrence Wilkerson: FOX News and GOP Exploiting American's Fears (10/18/14) [7:27]

Friday October 17, 2014
News Articles

Now Comes The "Specter Of Deflation": The Money Printers' Latest Scam
ZeroHedge | author | 10/16/14

The Fed's public relations firm of Hilsenrath & Blackstone was out this morning with the official line on the market's tremors of recent days. It seems that $10 trillion in freshly minted digital money at the world's major central banks over the last eight years---that is, a tripling of their balance sheets to $16 trillion--- is not enough. Not only is 2% inflation still MIA, but it now threatening to enter the dark side: Behind the spate of market turmoil lurks a worry that top policy makers thought they had beaten back a few years ago: the specter of deflation. Never mind that there is nothing close to a sustained run of negative consumer price indices anywhere in the world. ... Read more

Sorry, California. Winter Isn't Going to Fix Your Drought.
MotherJones | Tim McDonnell | 10/16/14

California's crippling drought is not expected to improve over the winter, according to new forecast data released today by the National Oceanic and Atmospheric Administration.

Nearly 60 percent of the state is experiencing exceptional drought--the worst category--NOAA reported. The map above shows that the northern California coast could see some improvement. But in the Central Valley, a critical source of fruits, nuts, and vegetables for the whole country, conditions won't be getting better any time soon. A little rain is expected, NOAA forecaster Mike Halpert said in a statement, but not enough to reverse the trend. ... Read more
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News at a Glance
  1. Obama open to appointing Ebola 'czar', opposes travel ban (Reuters)
  2. Schools Close as Nurse's Ebola Infection Ignites Concern (BBG)
  3. How the World's Top Health Body Allowed Ebola to Spiral Out of Control (BBG)
  4. European Stocks Rise Amid Growing Pressure for Stimulus (BBG)
  5. Putin Threatens EU Gas Squeeze Raising Stakes for Ukraine (BBG)
  6. ECB to Start Asset Purchases Within Days, Says Central Banker Coeuré (WSJ)
  7. Investors search for signs of end to stock market correction (Reuters)

Insiders Blame Rove for Covering Up Iraq's Real WMD
TheDailyBeast | author | 10:16:14

Starting in 2004, some members of the George W. Bush administration and Republican lawmakers began to find evidence of discarded chemical weapons in Iraq. But when the information was brought up with the White House, senior adviser Karl Rove told them to "let these sleeping dogs lie." ...

... According to Wurmser, "in 2005-6, Karl Rove and his team blocked public disclosure of these (findings) and said 'Let these sleeping dogs lie; we have lost that fight so better not to remind anyone of it.'" ... Read more

Rate of Mass Shootings Has Tripled Since 2011, Harvard Research Shows
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Severe Solar Storm Damage Could Top $2 Trillion
Bloomberg | author | 10/16/14

According to a study by Lloyd's of London, an extreme geomagnetic storm in the near future is almost inevitable. Such a storm that could cause widespread power outages in the U.S. for one to two years might have an economic cost of more than $2 trillion. Read more
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Democracy Now! U.S. and World News Headlines for Friday, October 17 [9:10]
DN | In Tight Midterms Facing Low Turnout, Colorado's Senate Race Could Decide Who Controls Congress (10/17/14) [13:17]
Jon Stewart
Jon Stewart | Florida's gubernatorial race heats up as Governor Rick Scott shows up late to a debate where Democratic candidate Charlie Crist is using a fan to strategically cool his balls. (10/16/14) [8:58]
*TRNN | Why are Stock Markets so Volatile? (10/17/14) [11:56]
Real serious depression pending as a result of austerity says Professor Michael Hudson, author of The Bubble and Beyond and Finance Capitalism and its Discontents.
TRNN | Behind America's Store Fronts -- Drugs, Homelessness and Abandonment (10/17/14) [7:10]
In an original TRNN series, conservative residents of the working-class town of Westminster, Maryland, paint a political landscape different from that depicted in the mainstream media.
TYT | Pressure Mounts To Ban Travel To Africa (10/16/14) [9:53]
TYT | Ebola Sanity Briefly Infects Fox News, Will It Spread? (10/16/14) [5:53]
TYT | Frontier Flight Crew Exposed To Ebola (10/16/14) [4:37]
TYT | Privileged White Guy Refuses Jon Stewart's Case For White Privilege (10/16/14) [7:30]
TYT | Small Fan Ruins Debate In 'Extremely Peculiar' Moment (10/16/14) [7:02]
Climate "Winter" Outlook
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More News
Bill Nye the Science Guy's Take on GMO Foods (10/16/14) [7:57]
PBS | Separating legitimate Ebola concerns from unnecessary fear (10/17/14) [7:32]
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Thursday October 16, 2014
News Articles

Chomsky: Business Elites Are Waging a Brutal Class War in America
AlterNet | Noam Chomsky | 10/14/14

Journalist Matt Taibbi has suggested that the government is afraid to prosecute powerful bankers, referring to "an arrestable class and an unarrestable class." What is your view on the current state of class war in the U.S.?

Well, there's always a class war going on. The United States, to an unusual extent, is a business-run society, more so than others. The business classes are very class-conscious--they're constantly fighting a bitter class war to improve their power and diminish opposition. Occasionally this is recognized. We don't use the term "working class" here because it's a taboo term. You're supposed to say "middle class," because it helps diminish the understanding that there's a class war going on. ... Read more

Prepare For Epic Volatility: E-mini Liquidity Is Nonexistant
ZeroHedge | author | 10/16/14

If you thought the last several days were volatile in the market, you ain't seen nothing yet: judging by the early liquidity, or rather complete lack thereof, in the market moving E-Mini contract, the asset class through which as we disclosed a month ago central banks directly manipulate markets with the CME's blessing, then we urge all those who have stop losses close to the NBBO to quietly pull those as they will get hit adversely. The reason? As this Nanex chart of ES orderbook levels show, there is zero, zilch, nada liquidity in the ES (purple line, compare to orange yesterday). ... Read more
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Major News for Today

  1. Dallas County May Declare State of Disaster From Ebola Virus (BBG)
  2. Markets on edge after worst turmoil in four years (Reuters)
  3. Central bankers may have no quick fix as markets swoon, economy weakens (Reuters)
  4. Risk of Deflation Feeds Global Fears (Hilsenrath)
  5. U.S. health official allowed new Ebola patient on plane with slight fever (Reuters)
  6. Texas Hospital Fights Allegations About Ebola Protocols (BBG)
  7. Treasuries Gain as Oil Drops Below $80 While Stocks Slide (BBG)
  8. Greek Bonds Slump on Bailout Concern as Spain Misses Sale Target (BBG)
  9. White House shifts into crisis mode on Ebola response (Reuters)
  10. Obama Confronts Slippery Slope as Islamic State Advances (BBG)

How Laissez-Faire Economics Led to Inequality and Recession
HP | Jeff Madrick | 10/14/14

Remember in 2009 when everyone was dodging blame for the financial crisis? Depending on who you asked, it was the bankers, the federal regulators, Fannie Mae, fraudster mortgage companies, the ratings agencies and the sub-prime borrowers themselves. The favorite claim of excuse makers was that no single group was to blame -- it was a cluster-f*** as one journalist friend put it.

If everyone did it, no one could be held accountable. But it wasn't true. Bankers and regulators were the major creators of the crisis, for their neglect and single-minded self-aggrandizement that often involved bending the rules. ... Read more

Thirteen Factories
Wikipedia | author | history

The Thirteen Factories was an area of Guangzhou (Canton), China, where the first foreign trade was allowed in the 18th century since the hai jin (??) ban on maritime activities. It is also referred to as the "Thirteen Hongs" or the "Canton Factories". The site where the factories stood is now Wenhua Park, and Thirteen Hong Street, onto which the factories backed is now named Shisanhang Road.

Factories were "foreigners quarters", or trading posts, outside the city walls in Guangzhou rather than a place in the contemporary sense where are manufactured goods. The name came from the foreign agent term of "factors", who maintained offices or factories. Chinese citizens often referred to the factories as "Barbarian Houses". ... Read more

Democracy Now! U.S. and World News Headlines for Thursday, October 16 [9:54]
*DN | A U.S. Nurse Witnesses Ebola's Ravages in Sierra Leone, Where Horrific Conditions Claim Lives Daily (10/16/14) [16:22], Part 2 [11:42]
DN | A Little Shout of Joy: Supreme Court Lets Abortion Clinics Reopen, Easing Crisis of Access in Texas (10/16/14) [4:54]
Jon Stewart - Daily News
Jon Stewart | Jon Stewart Tries To Make Bill O'Reilly Admit White Privilege Exists. And Fails. (10/16/14) [8:01]
*Jon Stewart | Just Try Not to Say Something Stupid for 90 Minutes (10/16/14) [7:46]
*TRNN | Phyllis Bennis: U.S. Will Fail In Attempt to Create Proxy Army in Syria (10/16/14) [14:03]
*TRNN | Deepa Kumar: The Islamophobia of "Homeland", Part 4 (10/16/14) [21:22]
Dr. Kumar tells Paul Jay that Muslim characters on Homeland are either terrorists, sympathizers of terrorists, or "good Muslims" which means pro-US.
TRNN | researcher Tamara Lorincz: Emissions Reduction Impossible Without Demilitarizing Foreign Policy (10/16/14) [13:42]
The Pentagon's new climate change policy does not address the military's contribution to climate change, says researcher Tamara Lorincz.
*TYT | Allowed To Bring Guns To Speeches You Disagree With (10/15/14) [5:38]
TYT | Media Completely Failing America On Ebola In Shocking New Study (10/15/14) [4:36]
*TYT | C.I.A. A Disaster Factory For Decades Yet Here We Go Again (10/15/14) [5:59]
TYT | 2nd Ebola Case In United States Raises Grim Questions (10/15/14) [8:36]

Wednesday October 15, 2014
News Articles

James Risen Challenges the Greed, Power, and Endless War of the National Security State
AlterNet | Norman Solomon | 10/14/14

No single review or interview can do justice to "Pay Any Price" -- the new book by James Risen that is the antithesis of what routinely passes for journalism about the "war on terror." Instead of evasive tunnel vision, the book offers big-picture acuity: focusing on realities that are pervasive and vastly destructive.

Published this week, "Pay Any Price" throws down an urgent gauntlet. We should pick it up. After 13 years of militarized zealotry and fear-mongering in the name of fighting terrorism, the book -- subtitled "Greed, Power, and Endless War" -- zeros in on immense horrors being perpetrated in the name of national security.

Here are a few quotes from the book:
  1. "Obama performed a neat political trick: he took the national security state that had grown to such enormous size under Bush and made it his own. In the process, Obama normalized the post-9/11 measures that Bush had implemented on a haphazard, emergency basis. Obama's great achievement -- or great sin -- was to make the national security state permanent."
  2. "In fact, as trillions of dollars have poured into the nation's new homeland security-industrial complex, the corporate leaders at its vanguard can rightly be considered the true winners of the war on terror."
  3. "There is an entire class of wealthy company owners, corporate executives, and investors who have gotten rich by enabling the American government to turn to the dark side. But they have done so quietly. . . . The new quiet oligarchs just keep making money. . . . They are the beneficiaries of one of the largest transfers of wealth from public to private hands in American history."
  4. "The United States is now relearning an ancient lesson, dating back to the Roman Empire. Brutalizing an enemy only serves to brutalize the army ordered to do it. Torture corrodes the mind of the torturer."
  5. "Of all the abuses America has suffered at the hands of the government in its endless war on terror, possibly the worst has been the war on truth. On the one hand, the executive branch has vastly expanded what it wants to know: something of a vast gathering of previously private truths. On the other hand, it has ruined lives to stop the public from gaining any insight into its dark arts, waging a war on truth. It all began at the NSA."
Read more

Republican Right Embraces Its Long, Hypocritical Tradition of Pandering to Fear
HP | Robert Creamer | 10/14/14

They're back. Like the fourth sequel to a bad horror movie, the Republican Right has once again chosen to embrace its long ignoble, hypocritical tradition of pandering to -- and stoking -- fear.

As the election nears, their ads are filled with images of ISIL terrorists, Ebola viruses, Secret Service breaches, and "porous" borders through which knife-wielding Muslim extremists are surely infiltrating every corner of our society. It's not just disgusting. It's also hypocritical. The fact is that the Republicans have an abysmal record when it comes to defending the security of ordinary Americans.

But this is nothing new. Right-wing demagogues have perfected their techniques for appealing to our darkest fears for decades. It's embedded in their DNA. ... Read more

Another Ebola Case In Dallas

New York Times Reporter James Risen Finds 'Crazy Is The New Normal' In War On Terror
HP | Michael Calderone | 10/14/14

New York Times reporter James Risen was surprised Sunday when former National Security Agency chief Michael Hayden said he doesn't see a need for the government to prosecute Risen for refusing to reveal a source. "I'm glad to see he feels that way these days," Risen said in an interview Monday with The Huffington Post. "I'm not sure how long he's felt that way."

... Risen was one of a the few reporters to seriously scrutinize the Bush administration's case for war in Iraq, even as his own paper downplayed that skeptical coverage. The next year, Hayden and the Bush White House successfully pressured the Times not to publish Risen and colleague Eric Lichtblau's blockbuster report on the NSA's warrantless wiretapping program. The Pulitzer Prize-winning story finally appeared on the front page in late 2005, just weeks before Risen planned to reveal it in a chapter of his book, State of War. ... Read more

Your Thoughts on Tiny Houses
BillMoyers | John Light | 10/14/14

Last week, BillMoyers.com published a report on micro-houses (or, more popularly, "tiny houses"). These ultra-compact homes of 1,000 square feet or less are appealing to those who want to make their lives more sustainable, and, increasingly, are being looked at by some as a model for affordable housing.

Many in our audience had lived in a micro-house. "I lived in a 920-square-foot passive solar house and was very happy. My heating bill for the entire winter: $98," said Gordon Billingsley. And even though our BillMoyers.com piece looked at micro-homes for individuals, some of our audience said that they work for families, too. ... Read more

Democracy Now! U.S. and World News Headlines for Wednesday, October 15 [12:34]
DN | As Second Dallas Nurse Diagnosed with Ebola, Are U.S. Hospitals Failing Healthcare Workers? (10/15/14) [14:59]
*DN | Infected Workers, Slow Deployment, No Vaccines: Ebola Response Shows Pitfalls of Privatized Health (10/15/14) [16:12]
DN | Mexico's Missing Students: Were 43 Attacked by Cartel-Linked Police Targeted for Their Activism? (10/15/14) [10:33]
The Great Pacific Garbage Patch -- a collection of debris in the North Pacific ocean -- is one of five major garbage patches drifting in the oceans.
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*TRNN | Sen. Bob Graham: Revealing the 9/11 Conspiracy Would Undo the Entire US-Saudi Alliance, Part 2 (10/14/14) [16:24]
*TRNN | Deepa Kumar: Islamophobia and the Politics of Empire (10/15/14) [20:21]
*TYT | Meet The Ultra-Rich Koch Donors Who Not-So-Secretly Run Things (10/14/14) [19:28]
TYT | Fox News Hides The Ugly, Honest Reason America Has No Surgeon General (10/14/14) [3:36]
TYT | Untouchable Rich Iranian Kids Flaunt Riches On Social Media (10/14/14) [5:53]
Islamic State of Iraq and the Levant
Wikipedia | author | current

The group originated as Jama'at al-Tawhid wal-Jihad in 1999. This group was the forerunner of Tanzim Qaidat al-Jihad fi Bilad al-Rafidayn--commonly known as al-Qaeda in Iraq (AQI). It took part in the Iraqi insurgency against US-led forces and their Iraqi allies following the 2003 invasion of Iraq and joined other Sunni insurgent groups to form the Mujahideen Shura Council, which consolidated further into the Islamic State of Iraq (ISI) shortly afterwards. At its height, it enjoyed a significant presence in Al Anbar, Nineveh, Kirkuk, and other areas, but around 2008 its violent methods led to a backlash against it and temporary decline.

In April 2013, the group changed its name to the Islamic State of Iraq and Syria. It grew significantly under the leadership of Abu Bakr al-Baghdadi, gaining support in Iraq as a result of perceived economic and political discrimination against Iraqi Sunnis. ... Read more

Tuesday October 14, 2014
News Articles

WHO: New Ebola Cases Could Be Up To 10,000 Per Week In 2 Months
AP & HP | author | 10/14/14

The death rate in the Ebola outbreak has risen to 70 percent and there could be up to 10,000 new cases a week in two months, the World Health Organization warned Tuesday. WHO assistant director-general Dr. Bruce Aylward gave the grim figures during a news conference in Geneva. Previously, WHO had estimated the death rate at around 50 percent.

... For the last four weeks, there's been about 1,000 new cases per week -- including suspected, confirmed and probable cases, he said, adding that the U.N. health agency is aiming to get 70 percent of cases isolated within two months to reverse the outbreak. ... Read more

All That Is Broken With The US Financial System In One Chart
ZeroHedge | author | 10/14/14

As the blue bar shows, total loans issued by the biggest US bank were $743 billion in Q3 2014: about $20 billion less than in the quarter Lehman blew up. Four years later, and the US commercial bank lending apparatus is still in a state of depression. Or so it would appear on the books.

But why doesn't JPM lend out more: after all that is the main pathway to stimulate the economy as all pundits will tell us. Simple: it doesn't need to. As the red bars show, total consumer deposits held by the bank just rose once more, this time to a record $1,335 billion, up $15 billion in the quarter, pushing the deposit-over-loan difference to a new record $591 billion. This is happening exclusively due to the Fed, which when banks do not "create" money from loans (as they clearly don't), has to step in with QE and create money on its own. ... Read more
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Mortgage Application Pipeline At America's Largest Mortgage Lender Drops To Lowest Since Lehman
ZeroHedge | author | 10/14/14

US housing picture is once again the worst it has ever been (excluding those days around the Lehman bankruptcy when all of finance died for a few weeks).

In short: the only people buying houses in the US now are foreigners laundering their illegal, tax-exempt profits (ever fewer) and those as close to the Fed's ZIRP as possible, and, of course, paying all cash. Everyone else: not so much. Read more
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The Fed Is About To Pull The QE Plug... And This Happens
ZeroHedge | author | 10/14/14

Moments ago, the Fed concluded its latest $931MM POMO, with just 6 more POMOs left ever (at least until another QE program is unveiled), and judging by the last week's performance, the market has finally figured this out. And Goldman, which has been pounding the table on shorting the 10 Year for about a year now, and in the process crucifying even more muppets, has some bad news for TSY shorts: global growth is crashing. ... Read more
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Democracy Now! U.S. and World News Headlines for Tuesday, October 14 [13:41]
*DN | James Risen Prepared to "Pay Any Price" to Report on War on Terror Amid Crackdown on Whistleblowers (10/14/14) [11:08], Part 2 [4:39]
State of War by James Risen
John Oliver
Warren G Harding Love Letters (10/12/14) [3:11]
John Oliver: Pumpkins Spice (10/12/14) [3:11]
Jon Stewart - Daily Show
*Jon Stewart | Former AIG Chairman and CEO Hank Greenberg sues the U.S. government, claiming that the terms of the company's $184 billion bailout were insufficient and unfair. (10/09/14) [9:58]
Jon Stewart | Jeremy Renner discusses the career of journalist Gary Webb, which served as the basis for his film "Kill the Messenger." (10/09/14) [5:15]
*Jon Stewart | Former Secretary of Defense and CIA Director Leon Panetta discusses the need for Congress and President Barack Obama to work together to address the threat of ISIS. (10/08/14) [8:19], Part 2 [10:47]
*TRNN | Deepa Kumar: Fighting the Demonization of Muslims, Part 2 (10/14/14) [15:26]
TRNN | How Socialist China Became the Workshop of the World (10/13/14) [8:25]
TRNN | Privatization, Occupation, and the Israeli Economy (10/13/14) [13:29]
TYT | Republicans To Blame For No Ebola Vaccine? (10/14/14) [2:56]
*TYT | Professor Reza Aslan On Sam Harris (10/14/14) [4:00], Part 2 [4:10]
TYT | How Budget Cuts Cost Us An Ebola Vaccine (10/14/14) [5:11]
TYT | New Texas Ebola Case, Is It Time To Panic? (10/14/14) [5:00]
Ring of Fire
Ring of Fire | Ring of Fire (10/12/14) [57:00]
  1. 00:46 - "SCOTUS Destroys Fundamentals of Democracy." David Haynes talks about the upcoming Supreme Court term, and their disastrous first decision to limit early voting in Ohio. #SCOTUS
  2. 14:16 - "Eric Holder's Troubled Legacy." Michael Burg discusses Eric Holder's dismal record on Wall Street accountability. #TooBigToJail
  3. 25:48 - "Obamacare Ends Big Pharma's Bribe Machine." Howard Nations explains how a provision in Obamacare could put an end to big pharma's bribing of doctors. #BigPharmaBribery
  4. 37:53 - "The Backstory." Pap and Sam News.

Monday October 13, 2014
News Articles

Will The Fed Let The Stock Market Crash Before An Election?
ZeroHedge | author | 10/13/14

... Let's set aside sentiment measures and technical analysis and ask a larger question: will the Fed let the stock market crash before an election? Once again we find two camps among participants. 1) One camp believes markets still obey the basic rules of technical analysis. The Fed and other central banks may intervene at the margins, but their interventions only work on low-volume days. When selling increases, it overwhelms the relatively modest size of central bank intervention and the market then crash. 2) The other camp holds that all markets are now engineered, and intervention can reach essentially unlimited levels if the Powers That Be deem that necessary.

For context, let's recall that the Fed conjured up $16 trillion to backstop global banks in the Global Financial Meltdown; (the Levy Institute came up with $29 trillion after poring over all the data). To put $16 trillion in context, note that entire gross domestic product (GDP) of the U.S. is about $17.3 trillion, and all residential mortgages in the U.S. total about $10 trillion. ... Read more
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Where prior to 2008 the Fed and other central state players might have viewed $10 billion as a major intervention, what do you think whatever it takes is now? Do you really think $1 trillion would give those in charge pause? Since we're talking about propping up a $160+ trillion edifice ($80 trillion of assets in the U.S. alone), what's a trillion or two between pals?

Key Figures In CIA-Crack Cocaine Scandal Begin To Come Forward
HP | Ryan Grim | 10/10/14

... More than 18 years have passed since Pulitzer Prize-winning journalist Gary Webb stunned the world with his "Dark Alliance" newspaper series investigating the connections between the CIA, a crack cocaine explosion in the predominantly African-American neighborhoods of South Los Angeles, and the Nicaraguan Contra fighters -- scandalous implications that outraged LA's black community, severely damaged the intelligence agency's reputation and launched a number of federal investigations. ...

... Now, Webb's bombshell expose is being explored anew in a documentary, "Freeway: Crack in the System," directed by Marc Levin, which tells the story of "Freeway" Rick Ross, who created a crack empire in LA during the 1980s and is a key figure in Webb's "Dark Alliance" narrative. The documentary is being released after the major motion picture "Kill The Messenger," which features Jeremy Renner in the role of Webb and hits theaters on Friday. ... Read more

Texas Health Worker Tests Positive For Ebola
Ebola Themed Halloween Costumes.
 Still working on this.
*TRNN | After revelations show that the Obama administration uses reporters' FOIA requests as a tip service, did the mainstream media create a monster that they can't tame? (10/13/14) [9:59]
TYT | Obama's Weakness Explained (10/12/14) [4:13]
TYT | ISIS Pushes Right Up To Turkish Border (10/12/14) [4:54]
TYT | DON'T Joke About Ebola When On A Plane (10/11/14) [4:30]
TYT | Is Sam Harris As Dangerous As Sarah Palin? (10/11/14) [19:41]
"Whether you think him a truth-teller or a bigot, Bill Maher deserves credit for launching one of the most robust public cultural/intellectual debates in recent memory. Two weeks ago today, he said on HBO that "a vast number of Muslims across the world" believe people who do not share their religious beliefs "deserve to die." He also suggested that the Islamic State, or ISIL, was not an abberation of Islam, but a reflection of it.

Those remarks sparked a heated debate three days later on CNN, when hosts Don Lemon and Alisyn Camerota pressed the religious scholar Reza Aslan to defend Islam against the charge that it was inherently violent. Aslan argued that the CNN hosts were cherry-picking examples and making broad sweeping general claims about Islam that were false. "We are using two or three examples to justify a generalization," he said. "That's actually the definition of bigotry."

Four days later, Maher returned to his program with Sam Harris, the religious critic, and the two got into a shouting match with actor Ben Affleck and New York Times columnist Nicholas Kristof over whether violence, intolerance, subjugation of women, etc. were inherent to Islam. Midway through the debate, Harris said "Islam at the moment is the motherlode of bad ideas." Maher concurred: "That's just a fact." Affleck, visibly repulsed and stupefied, only sighed: "Jesus Christ"
TYT | Nobel Peace Prize Awarded To Malala Yousafzai And Kailash Satyarthi (10/11/14) [6:32]
TYT | Meet Little Moe, The Ebola Killing Robot. (10/12/14) [2:02]
 Still working on this.

Friday October 10, 2014
News Articles

Key Figures In CIA-Crack Cocaine Scandal Begin To Come Forward
HP | Ryan Grim | 10/10/14

With the public in the U.S. and Latin America becoming increasingly skeptical of the war on drugs, key figures in a scandal that once rocked the Central Intelligence Agency are coming forward to tell their stories in a new documentary and in a series of interviews with The Huffington Post.

More than 18 years have passed since Pulitzer Prize-winning journalist Gary Webb stunned the world with his "Dark Alliance" newspaper series investigating the connections between the CIA, a crack cocaine explosion in the predominantly African-American neighborhoods of South Los Angeles, and the Nicaraguan Contra fighters -- scandalous implications that outraged LA's black community, severely damaged the intelligence agency's reputation and launched a number of federal investigations.

It did not end well for Webb, however. Major media, led by The New York Times, Washington Post and Los Angeles Times, worked to discredit his story. Under intense pressure, Webb's top editor abandoned him. Webb was drummed out of journalism. One LA Times reporter recently apologized for his leading role in the assault on Webb, but it came too late. Webb died in 2004 from an apparent suicide. Obituaries referred to his investigation as "discredited."

Now, Webb's bombshell expose is being explored anew in a documentary, "Freeway: Crack in the System," directed by Marc Levin, which tells the story of "Freeway" Rick Ross, who created a crack empire in LA during the 1980s and is a key figure in Webb's "Dark Alliance" narrative. The documentary is being released a week after the major motion picture "Kill The Messenger," which features Jeremy Renner in the role of Webb and hits theaters on Friday. ... Read more

"Financial Markets Are Artificially Priced: What Do You Do?" - Bill Gross' First Janus Capital Letter
ZeroHedge | author | 10/10/14

Financial markets are artificially priced.... We have had our Biblical seven years of fat. We must look forward, almost by mathematical necessity, to seven figurative years of leaner: Bonds -- 3% to 4% at best, stocks -- 5% to 6% on the outside. That may not be enough for your retirement or your kid's college education. It certainly isn't for many private and public pension funds that still have a fairy tale belief in an average 7% to 8% return for the next 10 to 20 years! ... Read more

Remember back when you held that median American nest-egg of $81,200? The average member of the Forbes 400 holds a fortune over 70,000 times that size.

America's Ridiculously Rich: the 2014 Edition
BillMoyers | author | 10/10/14

... And the richest of these 400 hold far more than that average. Take Larry Ellison, the third-ranking deep pocket on this year's Forbes list. Ellison just stepped down as the CEO of the Oracle business software colossus. His net worth: $50 billion.

What does Ellison do with all those billions? He collects homes and estates, for starters, with 15 or so scattered all around the world. Ellison likes yachts, too. He currently has two extremely big ones, each over half as long as a football field.

Ellison also likes to play basketball, even on his yachts. If a ball bounces over the railing, no problem. Ellison has a powerboat following his yacht, the Wall Street Journal noted this past spring, "to retrieve balls that go overboard."

Hiring that ball-retriever qualifies Ellison as a "job creator," right? Maybe not. Ellison has regularly destroyed jobs on his way to grand fortune. He has become, over the years, a master of the merge-and-purge two-step: First you snatch your rival's customers, then you fire its workers.

In 2005, for instance, Ellison shelled out $10.6 billion to buy out PeopleSoft, an 11,000-employee competitor. He then proceeded to put the ax to 5,000 jobs .

Five years later, Ellison bought out Sun Microsystems and indignantly denied that any "massive layoff" would be in the offing. Five months later, Ellison's Oracle quietly acknowledged a major downsizing in an official federal regulatory filing.

Job massacres like these have been hollowing out America's middle class ... Read more

Princess Juliana International Airport, St. Maarten
weather.com | author | current

Maho Beach is located in St Maarten, and famous for the Princess Juliana International Airport adjacent to the it. Arriving aircraft must touch down as close as possible to the beginning of Runway 10 resulting in aircraft flying over the beach at minimal altitude.

Democracy Now! U.S. and World News Headlines for Friday, October 10 [9:16]
*DN | Pakistani Education Activist Malala Yousafzai Becomes Youngest Winner of Nobel Peace Prize (10/10/14) [11:19]
DN | Ferguson October: Activists Call for Nationwide Convergence to Demand Justice for Michael Brown (10/10/14) [21:04]
*DN | Jeremy Scahill on Obama's Orwellian War in Iraq: We Created the Very Threat We Claim to be Fighting (repeat 10/03/14) [17:49] *TRNN | Ms. Deepa Kumar: Islamophobia and a Challenge to Bill Maher (10/10/14) [20:57]
TRNN | Baltimore Sun journalist Mark Puente discusses his investigation into police brutality cases that have cost the city $5.7 million (10/10/14) [14:30]
TYT | Fox News vs Harvard On ISIS Turns Into Embarrassing Ignorance Fest (10/09/14) [5:02]
TYT | Would Hosting Meet The Press Ruin Jon Stewart? (10/09/14) [6:46]
TYT | All Muslims Are Violent Radicals Like The Nazis, Insists Politician (10/09/14) [9:26]
*TYT | Immense Lie About ISIS Spreads Fear, Confusion & The Republican Message (10/09/14) [7:03]
TYT | Anti-Muslim Bias Goes WAY Beyond Bill Maher & Sam Harris (10/09/14) [12:25]
Ring of Fire
Ring of Fire | The Death of Critical Thinking In America (10/09/14) [9:33]
Drugs | Betrailal | Gary Webb
Freeway: Crack In The System Official Trailer - Marc Levin CIA Contra Documentary (trailer) (2014) [212]
Connections between Freeway Ricky Ross, the Bush Administration, and the crack cocaine epidemic () [26:31]
The drug kingpin Freeway Ricky Ross became known as The Wal-Mart of Crack in Los Angeles during the 1980s by becoming the largest supplier of drugs in the area, without his initially knowing that his source of drugs was a CIA agent connected to the Iran-Contra scandal associated with George Bush and Ronald Reagan.

This compilation of video clips from the documentary film The American Drug War: The Last White Hope details the circumstances of the connections between Ricky Ross and the CIA, showing how the connection was publicly exposed in the media and then largely forgotten by the public while CIA drug trafficking continues.
Kill the Messenger Official Trailer #1 - Jeremy Renner Crime (trailer) (2014) [2:18]
*DN | "Kill the Messenger" Resurrects Gary Webb, Journalist Maligned for Exposing CIA Ties to Crack Trade (10/09/14) [5:24]
Terrorist | Collateral Damage | and Iraq
BookTV | Why Did the Iraq War Start? The Untold Story - Seymour Hersh (2005) [1:22:50]
Leading To War () [1:12:16]
LeadingToWar website
Untold History of United States by Oliver Stone - Bush & Obama: Age of Terror (2013) [58:39]

How Abola Effects the Body
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Note: for more news, and archived news go to:
http://occupybanksters.com/news/ menu.

12.14.2011. 09:19

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