Category Archives: U.S.

Business/Economics, Opinion, U.S.

Voting for local levies and bonds only puts your local community deeper in the debt hole

“They [banks] didn’t vote for the bond issue, they didn’t support the bond issue.  They’re simply trying to underwrite some of them.”-Paul Sheldon Foote, California State University Fullerton

Professor Foote is explaining that, what he calls “…stupid idea…” bonds/levies, are forms of debt voted on by taxpayers, but funded by investment bankers.  

You don’t want local government and school district employees to lose their jobs.  You don’t want to see kids lose out on education programs that might be cut.  But voting for a levy, or bond issue, means you’re supporting those jobs and education programs purely on debt.

“Local governments draft levy bonds to sell at current market rates to raise capital for work projects.”-eHow money

Local bond levies, are forms of debt sold by your local officials to investors.  Those investors expect a return on their investment, that’s where the increases to your property tax/fees come in.  Investors pay the up front costs by buying local bonds, and you the taxpayer pay back the investor.
“The voters typically saddle the cost of funding such projects through increased tax levies.”-eHow money

If your local officials were truly conservative in their fiscal and monetary policies, there would be no need for most of the bond levies that you’re tricked into voting for.

In fact, it becomes a downward spiral, many bond levies are actually being used to pay off previous bond issues.  It has to stop, before there’s no one left who’s willing to invest in the next bond/levy issue.

In fact the debt crisis in California is due in part to investors not wanting to back up any more bond issues: “The state treasurer can not possibly issue every single one of them [bond issues] because, fortunately, the ratings agencies and investors see through it and would not possibly finance every single stupid idea that comes out of politicians!”–-Paul Sheldon Foote, California State University Fullerton

So what’s the answer?  An economics professor in the United Kingdom likes what North Dakota has done with its own State Bank: “The answer is, is to use the state bank mechanism for all your capital projects… And [North] Dakota is in fact, in practice, in a way a public bank giving a lead in that respect.”-Rodney Shakespeare

Shakespeare says the public bank in North Dakota charges interest on loans, but the revenue from that interest stays in North Dakota, and does not go out of state to corporate controlled banks.

International, U.S.

U.S. & Europe closer to war with Syria, Clinton uses phrases that hint at military action

In a July 11 statement to the media, about Syria, U.S. Secretary of State Hillary Clinton, used phrases very similar to phrases used in speeches that preceded U.S. led attacks on other countries.

She said Syria’s president was “…not indispensable…”, and that “…he has lost legitimacy, he has failed to deliver on the promises he’s made…”. Clinton also made the obligatory accusation that Syria was getting help from a sponsor of terrorism, Iran.

Clinton is meeting with European Union foreign policy chief Catherine Ashton, no doubt they will be talking about military action against Syria.  Syria, which included Lebanon, was placed under French control after World War One.  The Imperialist French President Sarkozy seems to be interested in regaining all of France’s former colonies.

Syrian officials have countered the statements by Hillary Clinton, saying: “These remarks amount to further proof of the flagrant interference of the U.S. in the internal affairs of Syria.”

 

International, U.S.

French warmongers: Lower Parliament approves continuing war against Libya

July 12, the lower house of the French Parliament approved an extension to the war against Libya.  The vote was 482 in favor, only 27 against.

The French Senate will vote next.  The war with Libya is costing French taxpayers 1 million Euros per day.

It is a sign of desperation when the leaders of a government throw millions, if not billions in taxpayer money at a war that seems to have no end.  The leaders must think that controlling Libya’s oil is the only option for saving their own economy.

“If NATO loses, the consequences are enormous. There are enormous, trillion dollar  financial consequences for those NATO member countries that are seen as aggressors and invaders here.”-Franklin Lamb, Americans Concerned for Middle East Peace

International, U.S.

Iraqi Prime Minister succumbs to demands of president Obama, will ask for U.S. troops to stay

Iraqi Prime Minister, Nuri al-Maliki, told the newly appointed U.S. Secretary of Defense, Leon Panetta, that he will ask for U.S. troops to stay beyond the original withdraw date.

The Prime Minister said it would be contingent upon the Iraqi Parliament to approve such a request.  At least half the members of the Iraqi Parliament have warned of dire consequences if the United States keeps troops in Iraq.

Leon Panetta was in Iraq on July 11, to push the Iraqis to keep U.S. troops in their country, despite the promised pullout by the end of the year.

 

Idaho, U.S.

Evil Cops: Idaho officials rig forensic lab results, thousands of drug convictions now questioned! How many innocent people went to prison?

After an internal investigation, the Idaho State Police (ISP) discovered that technicians working at the ISP Region 5 Forensics Lab in Pocatello, Idaho, may have tampered with illegal drugs testing.

The ISP actually conducted the investigation some time ago, and is only now going public.  Three lab technicians were put on leave, but then they resigned in June.

ISP documents show that the lab techs were concealing illegal drugs in the Region 5 Lab.  Testing done at that lab was used as evidence in drug related cases.  One lab tech is said to have kept a box of drugs stashed above the ceiling tiles.

The illegal conduct of the lab techs now raise questions about drug convictions going back to 2003.

U.S.

Evil Cops: Former New Orleans Police officer admits to covering up murders by other cops

The mainstream U.S. media is not reporting on the number of New Orleans cops on trial for murders they committed after hurricane Katrina.

A witness for the Federal government, and former New Orleans detective, Jeffrey Lehrmann, testified on July 11, that he helped to cover up murders committed by cops.

Lehrman said the cover ups included falsifying paperwork and planting false evidence, like guns, on the victims.

Five former, and current, New Orleans cops are on trial for shooting and killing people, including a mentally handicapped man, and then lying about it.

Already five former cops, including Lehrman, pleaded guilty.  Lehrman is serving three years for his part in trying to cover up the crimes.

International, U.S.

Incompetent Charities: 4 months later only 23% of donations have reached victims of the March 11 disasters

Within Japan, at least $3.7 billion has been raised by charities, like the Japanese Red Cross and Central Community Chest of Japan.  It was all to help the victims of the March 11 earthquake and tsunamis.

A report shows that so far only 23% of that money has actually gone to the victims.

The charities are working with local governments to get the money out, but local officials say the logistics of such an operation, because of the huge number of displaced victims, is making the job difficult.  On top of that, local governments are short on manpower.  Most government workers are involved with clean up, rebuilding, radiation checks and decontamination.

Here’s an idea:  Why not take some of the victims, who’re complaining of not having anything to do because their homes and jobs have been destroyed, and create a disaster relief crew that helps the charities distribute the donations?

The $3.7 billion does not include all the money Japan got from other countries.

 

 

Business/Economics, International, U.S.

What Economic Recovery? Chinese industries continue to cut back on imports, blames lack of demand

“The slowdown in import growth will last two to three months or even longer due to both falling demand and possible commodity price drops.”-Li Wei, Standard Chartered Shanghai

While China’s industry activity looks great, compared to other countries, the fact is that it’s slowing down.  The latest import numbers are the lowest ‘increase’ since November 2009.  This means that Chinese industries are buying less materials from other countries.

Imports are at 19.3%, compared to the previous year.  But export numbers are down as well.

China’s June export numbers are 17.9%, compared to May’s 19.4%.  Export numbers to the U.S. and EU dropped to 16.9%.

“The slow recovery of the global economy and the European debt crisis have added uncertainties to export growth.”-Zheng Yuesheng, GAC statistics

While some Chinese industry analysts remain optimistic, some Chinese officials are not so positive: “Exporters in Zhejiang have experienced a disappointing first half, and the second half will not be better.”-Han Jie, Zhejiang Department of Commerce


 

 

U.S.

Study says relaxation can work almost as good as headache medication, and is cheaper

University of Mississippi researchers say relaxation can work just as good on migraine headaches, as expensive medication.

The study was actually a cost benefit analysis.  Researchers followed people for a year, and compared the cost of prescription medication against professional relaxation services like massage, hypnosis, etc (called minimal contact therapy).

The results were that the minimal contact therapy was just as effective, and $500.00 cheaper.  Some of the patients in the study say they’ve actually cut back on their professional relaxation treatment to just a few times a year, saving even more money.

 

International, U.S.

Deadly European E Coli hits Arizona, Michigan

The Centers for Disease Control and Prevention (CDC) confirmed that an Arizona man died from the same strain of e.coli that has killed about 50 people in Europe.  The man died last month, after a trip to Germany.

The CDC confirmed six more U.S. citizens are infected.  They all live in Michigan.  Five of them had been in Germany.  There are possible cases in North Carolina, Wisconsin and Massachusetts.