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Friday October 03, 2014
News Articles

Labor Participation Rate Drops To 36 Year Low; Record 92.6 Million Americans Not In Labor Force
ZeroHedge | author | 10/03/14

While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slide from an already three decade low 62.8% to 62.7% - the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232K people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million! ... Read more
Click to zoom - for bigger image
Click to zoom - for bigger image

STUDY: U.S. Spends $59 Billion on Social Welfare…$92 Billion on Corporate Welfare.

Americans Have No Idea How Bad Inequality Really Is
Slate | Jordan Weissmann | 09/26/14

If Michael Norton's research is to be believed, Americans don't have the faintest clue how severe economic inequality has become -- and if they only knew, they'd be appalled.

Consider the Harvard Business School professor's new study examining public opinion about executive compensation, co-authored with the Chulalongkorn University in Bangkok's Sorapop Kiatpongsan. In the 1960s, the typical corporate chieftain in the U.S. earned 20 times as much as the average employee. Today, depending on whose estimate you choose, he makes anywhere from 272 to 354 times as much. According to the AFL-CIO, the average CEO takes home more than $12 million, while the average worker makes about $34,000. Read more

The Top Five Bank Bailouts We Never Heard About
Bill Moyer | Joshua Holland | 10/03/14

Gallons of ink have been devoted to Wall Street executives' lack of accountability for a global financial meltdown that was built on top of a mountain of fraud.

Nobody at the top has faced criminal prosecution. Executive compensation and bonuses have rebounded nicely. And while taxpayers committed trillions to keeping those "too-big-to-fail" institutions afloat, the foreclosure crisis persists six years after the crash.

And while the Troubled Asset Relief Program (TARP) sparked outrage, it wasn't the only bailout Wall Street bankers have enjoyed since their casino came crashing down around them.

Elizabeth Warren flagged a special ruling by the Treasury Department that allowed AIG to carry over losses it incurred before the bailout for tax purposes. In 2012, she and several colleagues wrote in The Washington Post that the insurance giant's "profits increased a staggering $17.7 billion -- from a loss of $2.2 billion a year earlier -- because of [the] special tax breaks."

In 2010, economist Dean Baker and others argued that Fannie Mae and Freddie Mac's continuing losses were in fact a matter of intentional policy -- that the government-owned lenders were acting as a conduit to take bad securities off of the big banks' balance sheets without raising the public's ire by creating another TARP-style pot of cash. ...

  1. The 2012 National Mortgage Settlement (NMS)
  2. BofA's $17 billion 2014 settlement
  3. JPMorgan Chase's $13 billion 2013 settlement
  4. BofA's $10 billion settlement with Fannie Mae
  5. BofA/ Countrywide's 2008 predatory lending settlement with 11 states
Read more
*Bill Moyers | A veteran bank regulator, William K. Black, lays bare how Washington and Wall Street are joined in a culture of corruption. (10/02/14) [25:20]

JPMorgan Says Data Breach Hit 76 Million Households
HP | Mark Gongloff | 10/02/14

A cyber attack at America's biggest bank this summer affected more than half of all U.S. households -- far, far more than previously estimated, and the latest in a string of massive, unnerving data breaches. The attack at JPMorgan Chase affected the data of 76 million households and 7 million businesses, the bank said in a regulatory filing on Thursday.

... Hackers attacked the bank's computer systems periodically between mid-June and mid-August, according to The Wall Street Journal. The attackers accessed customer names, email addresses, phone numbers and physical addresses, along with "internal JPMorgan Chase information relating to such users," the bank said in its regulatory filing. The bank didn't describe what sort of information that was. ... Read more

Democracy Now! U.S. and World News Headlines for Friday, October 03 [13:55]
*DN | Iraq Veterans Against the War: Decade-Old Group Grapples with New War, PTSD Epidemic, VA Failures (10/03/14) [24:10]
*DN | Jeremy Scahill on Obama's Orwellian War in Iraq: We Created the Very Threat We Claim to be Fighting (10/03/14) [17:49]
This is what Henry Kissinger's brand of Exceptionalism did to Laos, not to mention Cambodia or Veitnam.
*Watch the US Drop 2.5 Million Tons of Bombs on Laos *Bill Moyers | A veteran bank regulator, William K. Black, lays bare how Washington and Wall Street are joined in a culture of corruption. (10/02/14) [25:20]
*TRNN | Johns Hopkins Infectious Disease Program co-director Taha E. Taha discusses: What's Behind the Ebola Crises and are U.S. Americans at Risk? (10/03/14) [16:14]
*TYT | This Is The Income Inequality Video CEOs Don't Want Americans To See (10/02/14) [16:26]
*TYT | Profits From Syrian Airstrikes Will Churn Your Stomach (10/02/14) [8:24]
TYT | Ebola Causes Outbreak Of Fear, Panic & Obama-Hating At Fox News (10/02/14) [7:15]
TYT | Netanyahu Equates ISIS To Hamas & Then Brings Up Nazis (10/02/14) [8:01]
TYT | Justice Scalia Is Utterly Stupid, Especially On Religion & The Constitution (10/02/14) [8:15]
TYT | Orthodox Jewish Men Cause Flight Delays After Refusing To Sit Next To Women (10/02/14) [6:41]
TYT | Texas Man Diagnosed With Ebola (10/02/14) [3:27]

10.03.2014. 12:04

Thursday October 02, 2014
News Articles

Who Is Buying The Islamic State's Illegal Oil?
ZeroHedge | author | 10/01/14

"The crude is transported by tankers to Jordan via Anbar province, to Iran via Kurdistan, to Turkey via Mosul, to Syria's local market and to the Kurdistan region of Iraq, where most of it gets refined locally... Turkey has turned a blind eye to this and may continue to do so until they come under pressure from the West to close down oil black markets in the country's south." ... Read more

Health Officials Say More Than 80 People Were Exposed To Texas Ebola Patient
Reuters & HP | Lisa Maria Garza | 10/02/14

More than 80 people had direct or indirect contact with the first person to be diagnosed with the deadly Ebola virus in the United States, health officials said Thursday, as four members of the patient's family were quarantined as a precaution.

... "We have tried and true protocols to protect the public and stop the spread of this disease," said Dr. David Lakey, the Texas health commissioner. "This order gives us the ability to monitor the situation in the most meticulous way." "The order is in place until the incubation period has passed and the family is no longer at risk of having the disease," Lakey said. ... Read more

Doctor Boards Atlanta Flight In HazMat Suit To Protest "Lying CDC"
ZeroHedge | author | 10/02/14

"If they're not lying, they are grossly incompetent," said Dr. Gil Mobley, a microbiologist and emergency trauma physician from Springfield, Mo. as he checked in and cleared Atlanta airport security wearing a mask, goggles, gloves, boots and a hooded white jumpsuit emblazoned on the back with the words, "CDC is lying!" As The Atlanta Journal-Constitution reports, Mobley says the CDC is "sugar-coating" the risk of the virus spreading in the United States. ... Read more
Doctor Boards Atlanta Flight In HazMat Suit To Protest "Lying CDC" (10/02/14) [1:00]

Gross Exposes $42 Trillion Bond Market's Key Flaw
Bloomberg | Lisa Abramowicz | 10/01/14

One man shook a $42 trillion bond market last week, highlighting just how vulnerable bond prices are to shocks. Bill Gross's surprise departure on Friday from Pacific Investment Management Co. sparked selloffs in some of his biggest wagers, such as inflation-protected U.S. government bonds.

... It's become increasingly difficult to buy and sell debt as new regulations prompt Wall Street banks to curtail their holdings. Average daily trading in the U.S. bond market fell to $809 billion in 2013 from $1.04 trillion in 2008...

... Banks are less willing to cushion big swings using their own balance sheets and Gross's exit shows just how little it takes to move the needle in the global bond market, which has ballooned by 48 percent since 2008. ... Read more

Democracy Now! U.S. and World News Headlines for Thursday, October 02 [8:52]
*DN | After U.S. Sanctions & Wars Tore Iraq Apart, Can American-Led Strikes Be Expected to Save It? (10/02/14) [22:58]
DN | Secret History of U.S.-Cuba Ties Reveals Kissinger Wanted to Bomb Havana for Fighting Apartheid (10/02/14) [11:04]
*TRNN | Ali Al-Ahmed says IS is a key part of Saudi Arabia's strategy in the Middle East (10/02/14) [17:45]
 Still working on this.
Ring of Fire
*TRNN | Papantonio: Roberts' 3rd World Court Predictably Screws Ohio (10/01/14) [5:04]
Other Interest
American Horror Story: Freak Show - Opening Night (preview) (09/30/14) [1:00]

10.02.2014. 14:58

Wednesday October 01, 2014
News Articles

Dimon Pep Talk Consoles Eric Cantor on Way to Wall Street
Bloomberg | Max Abelson | 09/30/14

Eric Cantor sat in his Washington office in June after one of the biggest upsets in congressional history, getting encouragement from JPMorgan Chase & Co.'s Jamie Dimon, head of the largest U.S. bank.

Dimon talked about being fired from another bank by his mentor before rebounding to an even better seat, according to two people who were there. He reassured the Virginia Republican that his career would be just fine, too.

He was right. Cantor, 51, started this month as a managing director and vice chairman of New York-based investment bank Moelis & Co. (MC), where he'll earn more than $3.4 million by the end of next year. With former White House officials and a Tea Party spokesman calling Cantor a sellout, half a dozen people close to him described his new Wall Street life as an extension of his principles rather than a betrayal of them. ... Read more

The Supreme Court has almost always sided with the wealthy, the privileged, and the powerful, a new book argues.
Slate | y Dahlia Lithwick | 09/30/14

Erwin Chemerinsky is dean of the University of California--Irvine School of Law and a respected litigator with decades of experience who has argued seminal cases at the U.S. Supreme Court. This month he has come out with The Case Against the Supreme Court. The upshot of the book? That the court itself--not the Roberts court but the Supreme Court as an institution--is a massive disappointment. As he bluntly puts it: "We should realize that this is an emperor that truly has no clothes. For too long, we have treated the court is if they are the high priests of the law, or at least as if they are the smartest and best lawyers in society." The book painstakingly details the ways in which the Supreme Court has, in his view, almost always "failed, throughout American history, at its most important tasks, at its most important moments. ... Read more

Straining California's dwindling water supplies amid the state's worst-ever drought.

How Bad Could It Get? US Government Order Of 160,000 HazMat Suits Gives A Clue
ZeroHedge | author | 10/01/14

Now that Ebola is officially in the US on an uncontrolled basis, the two questions on everyone's lips are i) who will get sick next and ii) how bad could it get? We don't know the answer to question #1 just yet, but when it comes to the second one, a press release three weeks ago from Lakeland Industries, a manufacturer and seller of a "comprehensive line of safety garments and accessories for the industrial protective clothing market" may provide some insight into just how bad the US State Department thinks it may get. Because when the US government buys 160,000 hazmat suits specifically designed against Ebola, just ahead of the worst Ebola epidemic in history making US landfall, one wonders: what do they know the we don't? Read more

Mitt Romney Fans Speculation Over Another White House Run ?

Mitt Romney's Latest Excuse (Take 23) for His 47 Percent Remarks Is a Doozy
MotherJones | David Corn | 09/30/14

Now Romney has gone further in denying responsibility for the remark, blaming the 47 percent fiasco on the fellow who tossed him the question. Here's the relevant excerpt from Leibovich's piece:
"I was talking to one of my political advisers," Romney continued, "and I said: 'If I had to do this again, I'd insist that you literally had a camera on me at all times"--essentially employing his own tracker, as opposition researchers call them. "I want to be reminded that this is not off the cuff." This, as he saw it, was what got him in trouble at that Boca Raton fund-raiser, when Romney told the crowd he was writing off the 47 percent of the electorate that supported Obama (a.k.a. "those people"; "victims" who take no "personal responsibility"). Romney told me that the statement came out wrong, because it was an attempt to placate a rambling supporter who was saying that Obama voters were essentially deadbeats.

"My mistake was that I was speaking in a way that reflected back to the man," Romney said. "If I had been able to see the camera, I would have remembered that I was talking to the whole world, not just the man." I had never heard Romney say that he was prompted into the "47 percent" line by a ranting supporter.

Leibovich is right; this seems to be the first time Romney has tried to place responsibility for his comment on the person who asked him the question. That supporter was not rambling. Here's what he asked: "For the last three years, all everybody's been told is, 'Don't worry, we'll take care of you.' How are you going to do it, in two months before the elections, to convince everybody you've got to take care of yourself?" That was a straightforward query, succinctly put, not rambling at all. It was Romney who took the point to the next level and proclaimed that a specific number of Americans were lazy freeloaders who could not and would not fend for themselves.

To recap: Romney has gone from side-stepping the remark, to owning the thrust of this comment (though noting it was not well articulated), to saying he was wrong, to denying he said what he said (and contending his words were distorted), to claiming he was only mirroring the rambling remarks of a big-money backer. This last explanation is certainly not fair to the 1-percenter who merely expressed his very 1-percentish opinion. Does this mean that Romney was thrown off his game by a simple question--or that he was trying to suck up to a donor?

In the two years since Romney was caught on tape, he just cannot come up with a clear explanation of an easy-to-understand short series of sentences that were responsive to the question presented. But there is one possible explanation he hasn't yet put forward: He said what he believed. Read more

Democracy Now! U.S. and World News Headlines for Wednesday, October 01 [7:03]
DN | After Censorship of History Course, Colorado Students & Teachers Give a Lesson in Civil Disobedience (10/01/14) [13:38]
DN | Accused of Stealing a Backpack, High School Student Jailed for Nearly Three Years Without Trial (10/01/14) [24:10]
DN | Mississippi County Sued for Indefinitely Holding Prisoners Without Charge or Access to Lawyer (10/01/14) [5:22]
More Humor
The White House perimeter breached yet again. Our highest government officials at risk. (09/29/14) [0:49]
Jon Stewart
Once again the comedians do better news than the major networks.
*Jon Stewart | British Parliament and the United States Congress take drastically different approaches to debating the decision to start a war against ISIS. (09/29/14) [8:56]
Jon Stewart | Hadi al-Bahra Extended Interview Pt. 1 (09/29/14) [7:55], Part 2 [7:40]
Jon Stewart | The U.N. Climate Summit draws leaders together from around the world to make little to no headway on the climate change crisis.. (09/29/14) [4:58] TRNN | Shukria Dellawar: US-Brokered Afghan Unity Government Paves Way for Continued Military Presence (10/01/14) [9:54]
TRNN | Assistant Professor Eli Friedman from Cornell University says working class and union participation has increased in subsequent occupations (10/01/14) [11:21]
*TYT | Finance Newbie To Wall Street F*ck Buddy In No Time At All (09/30/14) [11:53]
TYT | All White House Intruders Should Die, Insists Bloodthirsty Congress (09/30/14) [5:18]
TYT | Bill Maher Destroyed Again And Again By Reza Aslan (09/30/14) [8:23]
TYT | Walmart To Tracy Morgan, You're Partly To Blame For The Crash (09/30/14) [5:49]
TYT | Humans = A Virus Destroying Earth (09/30/14) [5:46]
Ring of Fire
Ring of Fire (09/28/14) [52:58]
Artist's Impression Of The Difference Between ISIS & America's Strategy In The Middle East
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10.01.2014. 11:23

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