The actual policies expressed were probably even worse than Trump and Clinton in round 1. Continue reading The VP Debate Was Better, But There’s a Catch
- Hillary Clinton Channels Republican Foreign Policy in Speech to Veterans
- New Trump Immigration Speech Same Unworkable Policy
- Large Container Shipping Company Declares Bankrupt
- Another US Hack Blamed on Russia, Of Course
- Hillary Clinton Deleted Emails Related to Benghazi Scandal
- 64 Legislators Sign Letter to Delay Arms Deal for Saudi Arabia
- The rest of what Colin Kaepernick said
- More US allies committing atrocities in the Middle East and
- Instant runoff voting may be adopted in Maine
- Fed Continues To Pretend Obviously False Thing Is True
- Reason Triumphs a Little in Illinois Pension Debate
- Turkey Invades Syria
It appears to be legacy-polishing time at the White House. This is the time late in the second term where presidents start to recall the various terrible decisions they made over their tenure in office, and start looking to balance out the ledger so they’ll still be remembered favorably. And since they aren’t standing for reelection anyway, they tend to undertake actions regardless of their popularity politically.
For this reason, it’s a time for both anxiety and cautious excitement, assuming there are at least a few issues where you share common ground with the president.
- Tensions spike along Crimean border after alleged Ukrainian terror plot
- Another reminder that governments lie, (but for once, it’s almost a good thing)
- Hillary Clinton embraces protectionism
Today’s top stories:
- Another presidential candidate enters the race
- Third party lawsuit to join presidential debates partially dismissed
- Trump offers a good but dangerous economic plan
Today’s top stories:
- Assassination ‘playbook’ of President Obama released
- Trump buries the hatchet with Paul Ryan and John McCain
- US releases great jobs numbers, changes nothing
|Bank of England; Source: The Telegraph|
Yesterday, the Bank of England announced a cut in interest rates to record lows and a new 70 billion pound batch of quantitative easing (money printing) in an effort to prevent the UK economy from declining further. It comes shortly after central bank of Australia also decided to cut interest rates earlier this week in an effort to stimulate their economy.These are more signs that the global economic system is under severe stress, and central banks are growing increasingly desperate.
Unfortunately, the standard remedy, as applied by the Bank of England, only postpones the inevitable collapse a bit longer. By injecting new money into the economy, directly and indirectly, it can keep stock prices inflated and possibly encourage consumer spending to temporarily prop up GDP. However, it cannot make the underlying companies more profitable, nor make the average customers more financially secure in the long-run. Indeed, it actually makes the underlying problems worse.
Which brings us to…
MetLife, a major financial institution and insurance company based in New York City, reported a massive drop in earnings yesterday. They saw a 48% drop compared to last year, to be exact. Ironically, the primary reason cited for the decline in earnings was–wait for it–low interest rates.
This comes after Deutsche Bank, the second largest bank in the EU, reported even more devastating results this quarter facing many of the same problems. Their earnings declined 98% relative to last year at this time.
In other words, the central banks and governments of the world, in the name of trying to stimulate and stabilize the economy, are wreaking utter havoc on the actual banks (and pensions) in the economy.
Which has us wondering just how stable the economy will be when major banks become bankrupt as a result. I’m sure it will be fine.
DC Transit terror plot involved a $245 donation and… nothing else
Earlier this week, Americans learned that the FBI had captured a terrorism suspect who was a member of the DC Transit Police. Given the nature of the suspect’s position, the story garnered national attention.
The suspect was accused of aiding ISIS in initial reports. The question remained, however, what did the DC terrorist suspect do?
Now we know.
His crime was allegedly sending $245 in telecommunications gift cards to a friend who supposedly lived in ISIS territory. In fact, his “friend” was an informant collaborating with the FBI, not with ISIS.
So as far as we know, the DC transit terrorism suspect planned no violence and had no interaction with ISIS. And now he faces up to 20 years in prison for his crimes.
Who else is psyched that Libertarian Vice Presidential Candidate Bill Weld wants to have 1,000 more FBI agents on the job to pursue serious homegrown terror threats like these? Not this guy.
Read our full write-up for more on this, or check out this piece from The Intercept.
Intervention Begets Intervention: Libya Edition
With the US apparently embarking on an open-ended bombing campaign in Libya, it is more important than ever to be skeptical about claims of success. A new article in The Guardian makes the case quite well. In it, Trevor Timm explains how each intervention paves the way for the next, describing what he calls the “War on Terror Circle of Life”:
It’s yet another episode of the War on Terror Circle of Life, where the US bombs a country and then funnels weapons into the region, which leads to chaos and the opportunity for terrorist organizations, which then leads more US bombing.
A smart and timely piece that’s worth a read if you have the time. It’s available here.