Flood Of Students Demanding Loan Forgiveness Forces Administration Scramble

Tuesday, April 22, 2014

"Loan forgiveness creates incentives for students to borrow too much to attend college, potentially contributing to rising college prices for everyone," is a study's warning over government plans that allow students to rack up big debts and then forgive the unpaid balance after a set period. As WSJ reports, enrollment in student debt forgiveness plans have surged nearly 40% in just six months, to include at least 1.3 million Americans owing around $72 billion. The administration is looking to cap debt eligible for forgiveness, as President Obama's revamped Pay As You Earn scheme has seen applications soar and is estimated to cost taxpayers $14bn a year. The 'popularity' of the student loan bailout plan surged after Obama promoted it in 2012, and now the administration must back-track as costs have massively outpaced government predictions.

More: here

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I'm Off Base, You're Not Even in the Ballpark!

Saturday, April 19, 2014

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QE Infinity

Monday, March 31, 2014

As if there was any surprise that Yellen was fundamentally an uber dove, she just confirmed it. Here are the key highlights from her speech from Bloomberg.
  • YELLEN SEES `CONSIDERABLE SLACK' IN ECONOMY, LABOR MARKET
  • YELLEN SAYS QE TAPER DOESN'T MEAN REDUCED STIMULUS COMMITMENT
  • YELLEN SAYS ECONOMY, JOB MARKET `ARE NOT BACK TO NORMAL HEALTH'
  • YELLEN SAYS FED SHORT OF REACHING EMPLOYMENT, INFLATION GOALS
  • YELLEN SAYS POST-CRISIS LABOR MARKET STRENGTHENED CONSIDERABLY
  • YELLEN SAYS FED TAKES ITS 2% INFLATION GOAL `VERY SERIOUSLY'
  • YELLEN SAYS DECLINE IN JOBLESS `GRADUAL BUT REMARKABLY STEADY'
  • YELLEN SAYS ECONOMY NEEDS EXTRAORDINARY SUPPORT FOR `SOME TIME'
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Russia annexing Crimea is the cost of U.S.-EU intervention in Ukraine

Monday, March 17, 2014

One wonders how deep a hole the United States and the EU are going to dig for themselves in Ukraine. It was, of course, U.S. and EU leaders — and their media acolytes — who caused the problem we face today by intervening on behalf of self-styled “democrats” in Kiev who without foreign intervention could not have overthrown the Ukrainian president. It is getting to be that any half-baked gaggle of protestors at any location on the planet need only to chant the word “democracy” and the West will come running to their aid with diplomatic assistance, money, and a fierce disregard for either the target nation’s sovereignty or regional stability. Indeed, it may well be that the whole Ukraine protest movement was primed for action by funds, advisers, and computer systems paid for by Hillary Clinton’s State Department in a program similar to those she ran in several Arab countries.

The difference in the Ukraine intervention from others the West has conducted is that the terminally adolescent political leaders who run the West have run smack dab into a decisive, realistic, and nationalistic adult, in the person of Vladimir Putin, and they do not know what to do. They are learning that the Ukraine is not Libya or Egypt in that Putin will not to let the West make of Ukraine — or at least of Crimea — the same unholy mess its earlier unwarranted interventions made of Egypt and Libya. Putin has a very clear view of Russia’s genuine national interests, and reliable access to the Crimean base of the Black Sea fleet is one of them, it has been for centuries, and it will remain so in the future.

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The Debt Bubble Expands As Auto Loan Amounts Hit A New Record

Tuesday, March 4, 2014

Is anyone surprised that the poorest and least credit worthy of Americans are being saddled with piles of debt in order to buy new cars? It’s not enough that a generation of our citizens will toil pointlessly to pay off more than $1 trillion of student loans, we may as well add some other form of debt burden on top of it.
It’s hard to even imagine this is happening so shortly after the last credit bubble train wreck, but happening it is. Creative ways for people to purchase cars they can’t afford have been on my radar screen for some time now, and if you recall, I posted an article last April titled: Just Keep Dancing: Introducing the 97-Month Auto Loan.
Well the dancing has continued, and now we have Americans borrowing at all-time record levels to buy cars. USA! USA!

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Gold Price "Manipulated For A Decade", Repeatedly Slammed Lower, Bloomberg Reports

Friday, February 28, 2014

While the FT promptly retracted an article on precisely the topic of gold manipulation from earlier this week (recorded for posterity here), Bloomberg appears to not have had the same "editorial" concerns and pressures, and today released an article once again slamming the final conspiracy theory that while every other asset class is manipulated, gold is in a pristine class of its own, untouched by close-banging, price fixing traders or central bankers, and reports that "the London gold fix, the benchmark used by miners, jewelers and central banks to value the metal, may have been manipulated for a decade by the banks setting it, researchers say."

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FBI Director To Release Report On The FBI Assassination Of Ibragim Todashev

Wednesday, February 26, 2014

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“How, as a socialist, can you not be an anti-Semite?” - Hitler 1920

On 16 June 1941, as Hitler readied his forces for Operation Barbarossa, Josef Goebbels looked forward to the new order that the Nazis would impose on a conquered Russia. There would be no come-back, he wrote, for capitalists nor priests nor Tsars. Rather, in the place of debased, Jewish Bolshevism, the Wehrmacht would deliver “der echte Sozialismus”: real socialism.
Goebbels never doubted that he was a socialist. He understood Nazism to be a better and more plausible form of socialism than that propagated by Lenin. Instead of spreading itself across different nations, it would operate within the unit of the Volk.

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Connecticut Tells Gun Owners, Destroy or Hand Over Rifles & Standard Capacity Magazines

Tuesday, February 25, 2014


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Obama Administration Embeds "Government Researchers" To Monitor Media Organizations

Friday, February 21, 2014

Last week, I highlighted the fact that the latest Press Freedom Index showcased a 13 point plunge in America’s press freedom to an embarrassing #46 position in the global ranking. If the authoritarians in the Obama Administration have their way, this country is set to fall much further in next year’s index.
Incredibly, the Federal Communications Commission (FCC) is set to roll out something called the Critical Information Needs study, which will embed government “researchers” into media organizations around the nation to make sure they are doing their job properly.
No this isn’t “conspiracy theory.” It is so real, and represents such a threat to the First Amendment, that a current FCC commissioner, Ajit Pai, recently wrote an Op-Ed in the Wall Street Journal, warning Americans of this scheme.

Read more: Here

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Mortgage Applications Plunge Further - Near 19 Year Lows

Wednesday, February 19, 2014

The past 5 weeks have seen mortgage applications crumble a further 16% - their biggest such drop in 14 months as the index for home purchase applications hovers close to its lowest level since 1995. Non-seasonally-adjusted, this is the worst start to a year in over a decade. Must be the weather?


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U.S. Plunges To 46th In World Press Freedom Index... Below Romania

Monday, February 17, 2014

One of my most popular posts of 2013 highlighted the decline of America’s once large and enviable middle class. It was titled: How Does America’s Middle Class Rank Globally? #27, and it helped to dispel many myths Americans (particularly the mainstream propaganda media) continue to tell to themselves.
As you might expect, the economic decline of a nation into rule by a handful of corrupt oligarchs will have many other negative repercussions. One of these is a loss of civil rights and freedoms that many of us have taken for granted. Reporters Without Borders puts out their Press Freedom Index every year, and the 2014 ranking came out today. It was not a good showing for the USSA. Specifically, the U.S. registered one of the steepest falls of all nations, down 13 slots to the #46 position. As the screen shot shows, just above Haiti and just below Romania.

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The Crisis Circle Is Complete: Wells Fargo Returns To Subprime

Friday, February 14, 2014

"The bank is looking for opportunities to stem its revenue decline as overall mortgage lending volume plunges. It believes it has worked through enough of its crisis-era mortgage problems, particularly with U.S. home loan agencies, to be comfortable extending credit to some borrowers with higher credit risks.

The small steps from Wells Fargo could amount to a big change for the mortgage market. After the subprime mortgage bust brought the banking system to the brink of collapse in the financial crisis, banks have shied away from making home loans to anyone but the safest of consumers.

Any loosening of credit standards could boost housing demand from borrowers who have been forced to sit out the recovery in home prices in the past couple of years, but could also stoke fears that U.S. lenders will make the same mistakes that had triggered the crisis."
and ........

"So far few other big banks seem poised to follow Wells Fargo's lead, but some smaller companies outside the banking system, such as Citadel Servicing Corp, are already ramping up their subprime lending. To avoid the taint associated with the word "subprime," lenders are calling their loans "another chance mortgages" or "alternative mortgage programs." "

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How the U.S. government poisoned alcohol during Prohibition with deadly consequences

Thursday, February 6, 2014

It was Christmas Eve 1926, the streets aglitter with snow and lights, when the man afraid of Santa Claus stumbled into the emergency room at New York City's Bellevue Hospital. He was flushed, gasping with fear: Santa Claus, he kept telling the nurses, was just behind him, wielding a baseball bat.
Before hospital staff realized how sick he was—the alcohol-induced hallucination was just a symptom—the man died. So did another holiday partygoer. And another. As dusk fell on Christmas, the hospital staff tallied up more than 60 people made desperately ill by alcohol and eight dead from it. Within the next two days, yet another 23 people died in the city from celebrating the season.

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Billions wasted on Superbowl security, easily defeated.

Monday, February 3, 2014

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The Red-Light Camera Rip-Off: Rigged Yellow Lights


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Killer cops walk free after beating and tasing unarmed homeless man to death

Tuesday, January 14, 2014


FULLERTON, CA — In 2011, a group of police officers brutally beat an unarmed homeless man to death on a street corner with clubs, fists, and repeated electric shocks.  The story got national attention when the video of the attack showed the mentally ill man wailed for his father as police bludgeoned him mercilessly.  The story reached its heartbreaking conclusion when a jury announced that the police officers who had been charged with his death would all walk away as free men.  The frustrating story shows that even in the rare instances when police officers face criminal charges for their brutality, their position of power makes it incredibly easy for them to get away with murder.  The only objection the Fullerton Police Department had with the behavior of their officers was their use of profanity.

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The Red-Light Camera Rip-Off

Sunday, December 22, 2013

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Meet Wall Street: Your New Landlord

Friday, December 20, 2013

Blackstone Group appears to be trying to oligopolize the business of renting single-family homes in the U.S.. As Bloomberg reports, after the housing crash left more than 7 million foreclosed homes in its wake, the investment firm has spent more than $7.8 billion purchasing about 41,000 single-family homes for rental conversion. The world's largest private equity firm has quickly become the largest landlord (of rental homes) in the U.S. and in October, Blackstone offered the first-ever "rental-home-backed" security on Wall Street.

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Survey of Meteorologists Destroys Climate ‘Consensus’ Claims

Thursday, December 19, 2013

Barely half of American Meteorological Society meteorologists believe global warming is occurring and humans are the primary cause, a newly released study reveals. The survey results are the latest in a long line of evidence indicating the frequently asserted global warming consensus does not exist.
More than 1,800 Meteorologists
The American Meteorological Society, working with experts at George Mason University and Yale University, emailed all AMS members for whom the AMS had a mailing address (excluding associate members and student members) and asked them to fill out an online survey on global warming. More than 1,800 AMS meteorologists filled out the survey, providing a highly representative view of scientists with meteorological, climatological, and atmospheric science expertise

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Scarborough: Ruling Could Make Snowden a Whistleblower, 'He Has a Point'

Tuesday, December 17, 2013

Intelligence leaker Edward Snowden "has a point" if his exposure of the NSA's data collection program is upheld by the Supreme Court, talk show host Joe Scarborough said Tuesday.

"If, let's say, this is held up to the United States Supreme Court. If somebody exposes, like, something that would be deeply offensive to James Madison and the framers of the Constitution, I think Edward Snowden has a point," Scarborough said on MSNBC's "Morning Joe."

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Will Walmart shoppers support "Every Day High Wages?"

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Mother of three negligently shot in the head during botched drug raid

Sunday, December 15, 2013

CHILLICOTHE, OH — The American Drug War claimed another casualty when a woman was shot in the head while sitting on a couch by an incompetent police officer, who fired his weapon through an exterior wall prior to raiding the home.

Krystal Barrows from Chillicothe, OH.  (Source: Myspace)
Krystal Barrows from Chillicothe, OH. (Source: Myspace)

At about 10:30 p.m. on December 11th, a group of cops calling themselves the U.S. 23 Task Force swarmed the residence and prepared to break in and capture people for possessing drugs.   One of the officers, Sgt. Brett McKnight, an 11-year-veteran of the Ross County Sheriff’s Office, negligently handled his weapon and fired a round through the exterior wall of the mobile home.

The bullet traveled into the residence and struck a woman sitting on a couch.  Krystal Marie Barrows, 35, of Chillicothe, was “in critical condition” and flown by helicopter to Ohio State University’s Wexner Medical Center, where she died the following day.

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Drone strike kills 15 'wedding party-goers' in Yemen

Thursday, December 12, 2013

Fifteen people who had been heading to a wedding in Yemen have been killed in an air strike. Local media reported that a drone attack had been responsible, and the party-goers had been hit instead of an Al-Qaeda convoy.
“An air strike missed its target and hit a wedding car convoy, ten people were killed immediately and another five who were injured died after being admitted to the hospital,” a Yemeni security official told Reuters.
Five more people were injured in the attack which took place in Radda, central al-Bayda province on Thursday, the source added.
The group had been en route to the the village of Qaifa, the site of the wedding, when it was hit. The assault left charred bodies strewn in the road and vehicles on fire, officials told AP.
While officials would not identify the source of the air strike, local and tribal media sources attributed the deaths to a drone attack.

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China Announces That It Is Going To Stop Stockpiling U.S. Dollars

Thursday, November 28, 2013

China just dropped an absolute bombshell, but it was almost entirely ignored by the mainstream media in the United States.  The central bank of China has decided that it is "no longer in China’s favor to accumulate foreign-exchange reserves".  During the third quarter of 2013, China's foreign-exchange reserves were valued at approximately $3.66 trillion.  And of course the biggest chunk of that was made up of U.S. dollars.  For years, China has been accumulating dollars and working hard to keep the value of the dollar up and the value of the yuan down.  One of the goals has been to make Chinese products less expensive in the international marketplace.  But now China has announced that the time has come for it to stop stockpiling U.S. dollars.  And if that does indeed turn out to be the case, than many U.S. analysts are suggesting that China could also soon stop buying any more U.S. debt.  Needless to say, all of this would be very bad for the United States.

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Sandy Hook Report: Police Waited 5 Minutes to Enter School

Wednesday, November 27, 2013

It took police about 4 minutes after the first 911 call at 9:35 a.m. Dec. 14, 2012, to arrive at the scene of Sandy Hook Elementary School, and Adam Lanza is believed to have killed himself about a minute after they arrived on scene.

Police waited another five minutes before entering the building, where they found 20 children and six educators dead from Lanza’s gunfire and two more educators injured. Police were in part distracted by the scene outside, which included encountering an “unknown male running” along the east side of the school with “something in his hand.”

The timeline is detailed in a long-awaited report released by the state’s attorney’s office in Danbury on Monday.

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Federal Student Loans Surpass $1 Trillion; Delinquency Rate Soars To All Time High

Thursday, November 14, 2013

There is a reason why US consumer revolving (credit card) credit growth is getting lower and lower and lower and at last check posted a mere 0.2% annual increase.

That reason is that as the NY Fed disclosed moments ago, federal student loans officially crossed the $1 trillion level for the first time ever. Notably: the quarterly student loan balance has increased every quarter without fail for the past 10 years!

More here

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Selena Gomez Loves TSA Groping, selling the police state

Tuesday, November 12, 2013

In her recent hit song “Slow Down,” pop princess Selena Gomez attempts to make TSA molestation sound sexy and trendy.

Gomez sings;
Now that I have captured your attention.
I wanna steal you for a rhythm intervention.
Mr. TSA, I’m ready for inspection.
Show me how you make a first impression.
What kind of sick deviant would think that being groped by a blue-gloved TSA goon could in any way be sexy? What’s next? Is Selena going to regale us with tales of how alluring it is to be molested by a rapist?

 More: here

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Was the LAX shooter TSA or Passenger?

Saturday, November 9, 2013

The LAX TSA shooting story is beginning to fall apart as the government and its propaganda dispensing media jostle to exploit the incident as a pretext to further militarize TSA procedures and also demonize official enemies, including Alex Jones and Glenn Beck.

In similar fashion to the government generated narrative on the Boston Bombing and “active shooter” incidents over the last two years, the cover story for the murder of a TSA agent in Los Angeles has a number of glaring incongruities and oddities.

It was initially reported that the shooter was a fellow TSA agent. “Law enforcement sources told the Los Angeles Times that the gunman was a Transportation Security Administration employee at LAX,” the media reported shortly before noon on Friday. “The gunman was killed by authorities after he opened fire Friday morning. He allegedly shot and killed a fellow TSA employee.”

Less than an hour later, it was reported that a “federal law enforcement official said that the gunman was a ticketed passenger entering the airport. Officials don’t believe the gunman has ever worked for TSA. Law enforcement sources had earlier told The Times the gunman was a TSA employee.”

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Forget about the Healthcare.gov debacle, look at this!

Friday, November 1, 2013

Link: here

"We have to pass bill to find out what's in it" - Nancy Pelosi

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