Home · News · News Feb 2015
Friday February 27, 2015
News Articles

Room for Improvement
MotherJones | Scott Carrier | March/April 2015

Clean up cities. Give the homeless a place to live. And save money too? The shocking simple, surprisingly cost-effective solution that won over a bunch of conservatives in Utah.

IT'S EARLY DECEMBER, 10:30 in the morning, and Rene Zepeda is driving a Volunteers of America minivan around Salt Lake City, looking for reclusive homeless people, those camping out next to the railroad tracks or down by the river or up in the foothills. The winter has been unseasonably warm so far--it's 60 degrees today--but the cold weather is coming and the van is stacked with sleeping bags, warm coats, thermal underwear, socks, boots, hats, hand warmers, protein bars, nutrition drinks, canned goods. By the end of the day, Rene says, it will all be gone.

These supplies make life a little easier for people who live outside, but Rene's main goal is to develop a relationship of trust with them, and act as a bridge to get them off the street. "I want to get them into homes," Rene says. "I tell them, 'I'm working for you. I want to get you out of the homeless situation.'"

And he does. He and all the other people who work with the homeless here have perhaps the best track record in the country. In the past nine years, Utah has decreased the number of homeless by 72 percent--largely by finding and building apartments where they can live, permanently, with no strings attached. It's a program, or more accurately a philosophy, called Housing First. ... Read more
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CoalitionForTheHomeless.org in NYC website
Tonight, more than 60,000 New Yorkers will sleep in homeless shelters, the most since the Great Depression.

Roughly 80% of those in shelter are families, including more than 25,000 kids.

Climate Oscillations and the Global Warming Faux Pause
HP | Michael E. Mann | 02/26/15

No, climate change is not experiencing a hiatus. No, there is not currently a "pause" in global warming. Despite widespread such claims in contrarian circles, human-caused warming of the globe proceeds unabated. Indeed, as reported here at The Huffington Post just last month, the most recent year (2014) was likely the warmest year on record.

It is true that Earth's surface warmed a bit less than models predicted it to over the past decade-and-a-half or so. This doesn't mean that the models are flawed. Instead, it points to a discrepancy that likely arose from a combination of three main factors (see the discussion my piece last year in Scientific American). ... Read more
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One exasperated mom told The New Yorker Magazine. "Every month I get a paper from Welfare saying how much they just paid for me and my two kids to stay in our one room in this shelter. $3,444! Every month!" "Give me $900 and I'll find me and my kids an apartment, I promise you."

Here Is What Americans Spent Their "Gas Savings" On
ZeroHedge | author | 02/27/15

Today, following the first revision of consumer spending, we learn that in the fourth quarter Americans spent even more on healthcare, pushing the total up by $1 billion more, to a whopping $21.4 Bn, or 18% of all spending on goods and services in Q4.

In any event, the math is clear - the next time anyone asks you what Americans spent their so-called "gas savings" on in Q4, and why retail sales in the end of 2014 (and the start of 2015) were so weak, show them this chart. ... Read more
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Democracy Now! U.S. and World News Headlines for Friday, February 27 [7:02]
*DN | "A Historic Decision": Tim Wu, Father of Net Neutrality, Praises FCC Vote to Preserve Open Internet (02/27/15) [17:56]
*DN | Antiquities Scholar: Islamic State's Destruction of Museum & Library is Cultural & Ethnic Cleansing (02/27/15) [12:05]
*DN | 17 Shots: Police Killing of Unarmed Mexican Farmworker in Washington State Sparks Protest (02/27/15) [13:35]
ZeroHedge | Allan Greenspan on the Economy (02/26/15) [9:29]
Truth Loader
TruthLoader | Are we heading for another recession? (02/12/15) [4:36]
TruthLoader | Could China kill the US dollar? (05/29/14) [6:55]
TruthLoader | The Truth About The War On Drugs With Johann Hari (02/01/15) [8:25]
Simon sat down with journalist and author of "Chasing the Scream - The first and last days of the war on drugs" Johann Hari to discuss the realities of the drug war and addiction.
TruthLoader | Who is the IMF and did they cause a famine in Africa? (02/23/15) [4:41]
TruthLoader | What's happened to Venezuela? (02/19/15) [5:09]
TruthLoader | Syria and Islamic State: The War for Natural Gas (02/04/15) [2:39]
TRNN | Former financial regulator Bill Black: Irish Style Banking Inquiry into the 2008 Financial Crisis (02/27/15) [14:35]
TRNN | Professor James K. Galbraith: The Greek Debt and the German acquiescence (02/27/15) [12:03]
Initially Germany stood firm that Greece would have to sign the existing loan program to secure an extention but this was an untenable position and at the end of the day, it was the creditor countries and institutions that took a step back says Professor James K. Galbraith, academic colleague and advisor to Finance Minister Yanis Varoufakis.
TRNN | Miguel Tinker Salas: Venezuelan Gov. Releases Audio of Coup Plotters (02/27/15) [16:44]
On Thursday, Venezuela officials released recordings of what it said was proof that opposition figures and some military officers were plotting to overthrow the government - Analysis with Miguel Tinker Salas and Paul Jay.
TYT | Conservatives Compete To Demonize The Poor At Annual GOP Clownfest (02/26/15) [7:24]
TYT | ISIS Smashes Priceless Ancient Statues In Gut-wrenching Video (02/26/15) [6:53]
TYT | Northeast US Sea Levels Rise 4 Inches In Two Years (02/26/15) [6:03]
TYT | Bullets Counted In Police Shooting Of Fleeing Man (02/26/15) [4:50]
Jon Stewart - Daily News
Jon Stewart | The 99% of the 1%, Hasan Minhaj investigates an overlooked and pressing case of inequality threatening a portion of the population in the United States. (02/27/15) [4:49]
*Jon Stewart | Why Does The Obama Administration Keep Prosecuting Whistleblowers? (02/27/15) [7:16]
Thom Hartmann - www.thomhartmann.com/
Other Videos and Documentaries I Ran Across

02.27.2015. 12:21

Thursday February 26, 2015
News Articles

Who's Behind the Secretive Group Bashing Elizabeth Warren's Favorite Agency?
MotherJones | Patrick Caldwell | 02/26/15

Based off its name alone, the US Consumer Coalition--which bills itself as a "grassroots organization" that exists to "build bridges, ensure public awareness and mobilize the powerful voices of consumers and business owners to protect our freedom of choice"--sounds like the sort of outfit you'd expect to find sticking up for the little guy.

Yet last month, Brian Wise, one of the group's founders, penned an op-ed in the Hill attacking the Consumer Financial Protection Bureau, the consumer protection agency that came into existence in 2011 thanks to Elizabeth Warren. The CFPB crafts financial rules to protect ordinary consumers--making mortgage applications simple, preventing banks from hiding fees and charges, and cracking down on payday lenders.

... But the US Consumer Coalition--which other consumer groups told me they had never heard of--is run and staffed entirely by a Virginia public relations firm stuffed with ex-GOP operatives. In fact, Wise tells Mother Jones a group of donors--he won't say who--came to him last year and "hired" his firm, Wise Public Affairs, to set up the Consumer Coalition, which shares staff with his firm. ... Read more

Most Republicans Don't Think Obama Loves America
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Greece Suffers Biggest Bank Run In History: January Deposits Plunge To 2005 Levels

Despite Record Stocks & Surging Wage Inflation, Consumer Comfort Plunges Most In 10 Months
ZeroHedge | author | 02/26/15

What do people have to be 'uncomfortable' about?!! Stock markets around the world are at record highs... real wages just jumped by the most MoM since 2008... So why oh why did Bloomberg's Consumer Comfort Index plunge to its lowest of the year, falling by the most since May 2014? Perhaps, just perhaps, the market is a red herring... distracting the plebeians from the reality of the economy? ... Read more
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Capital Goods Shipments Tumble, 6th Miss In A Row
ZeroHedge | author | 02/26/15

Despite proclamations that "the shadow of crisis has passed," November durable goods orders were weak, December durable goods orders were weaker, and while January's noisy headline Durable Goods Orders beat expectations (+2.8% vs +1.6% exp), ex-Transportation it missed (printing +0.3% vs +0.5% exp.). A quick glance at YoY core capex and it is clear that the crisis has anything but passed. Capital Goods shipments fell a greater than expected 0.3% (against expectations of a 0.2% rise) for the sixth miss in a row and 3rd drop in the last 4 months. ... Read more
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Colossal Black Hole Is 12 Billion Times As Massive As The Sun, And It Has Astronomers Baffled
HP |Macrina Cooper-White | 02/26/15

A black hole 12 billion times as massive as the sun has been found in a glowing quasar that existed when the universe was just a fraction of its current age, scientists said on Wednesday. ... Read more

Democracy Now! U.S. and World News Headlines for Thursday, February 26 [13:44]
*DN | A Black Site in Chicago? Police Accused of Running Secret Compound for Detentions & Interrogations (02/26/15) [15:26], Part 2 [11:22]
An explosive new report in The Guardian claims the Chicago police are operating a secret compound for detentions and interrogations, often with abusive methods. According to The Guardian, detainees as young as 15 years old have been taken to a nondescript warehouse known as Homan Square. Some are calling it the domestic equivalent of a CIA "black site" overseas. Prisoners were denied access to their attorneys, beaten and held for up to 24 hours without any official record of their detention. Two former senior officials in the Civil Rights Division of the Department of Justice are calling on their colleagues to launch a probe into allegations of excessive use of force, denial of right to counsel and coercive interrogations. We speak to Spencer Ackerman, national security editor at The Guardian. We are also joined by Victoria Suter, who was held at Homan Square after being arrested at the NATO protests in Chicago in 2012.
*DN | Who Is Bankrolling the Islamic State? Private Donors in Gulf Oil States Cited as Key to ISIS Success (02/26/15) [14:19]
Jon Stewart
Jon Stewart | Conservatives suggest that Jon's liberal bias has poisoned the Republican brand and negatively impacted political discourse. (02/25/15) [10:00]
TRNN | Author and journalist Kari Lydersen explains: Chicago Mayor Emmanuel Forced Into Historic Runoff (02/26/15) [11:52]
*TRNN | Phyllis Bennis, author of "Understanding the US-Iran Crisis: A Primer": Netanyahu on a Destructive Path (02/26/15) [14:51]
*TRNN | Prof. James K. Galbraith, academic colleague and advisor to Finance Minister Yanis Varoufakis, Greece on a Path to Negotiate from a Position of Democratic Strength (02/26/15) [6:35]
TYT | Secret CIA Black Sites In American Heartland For 'Disappearing' Citizens (02/25/15) [6:23]
TYT | The Obama-Hate Bubble Is FULL Of Stunning Beliefs (02/25/15) [6:46]
TYT | O'Reilly's Lee Harvey Oswald Lie Proves His Lying Goes Back Decades (02/25/15) [8:00]
TYT | America Has Lost It's Mind On The Issue Of Gun Control (02/25/15) [3:01]
RT | Keiser Report: Can Bitcoin save Greece? (E724) (02/26/15) [25:37]
second half, Max interviews Liam Halligan, editor-at-large at BNE.eu and columnist at the Telegraph, about the latest on the unpayable debt crisis in Greece. Liam suggests a Grexit will happen but that Greece won't be the first European nation to leave the euro.
Thom Hartmann - www.thomhartmann.com/
ThomHartmann | Prof. Stephen Cohen: The Ukraine Proxy & the New Cold War (02/24/15) [35:19]

02.26.2015. 12:28

Wednesday February 25, 2015
News Articles

How Banks Help the Super-Rich Hide Over $20 Trillion in Offshore Accounts
AlterNet | Sharmini Peries | 02/23/15

TRNN | How Banks Help the Super-Rich Hide Over $20 Trillion in Offshore Accounts (02/23/15) [14:18]

Ukraine Enters Hyperinflation: Currency Trading Halted, "Soon We Will Walk Around With Suitcases For Cash"
ZeroHedge | author | 02/25/15

The Ukraine central bank tried to call a halt on Wednesday by banning banks from buying foreign currency on behalf of their clients for the rest of this week. Although banks could still trade with each other, by mid-morning there were no registered trades at any rate, leaving the currency in limbo. A construction worker exchanging dollars at a kiosk in a grocery shop in return for a bag filled with thousands of hryvnia, laughed and told shoppers: "Soon we will have to walk around with suitcases for cash, like in the 1990s." ... Read more

How Far Is It From Kiev To Athens?
ZeroHedge | author | 02/25/15

We don't get it, and we definitely don't get why nobody is asking any questions. The IMF and EU make a lot of noise -- through the Eurogroup -- about all the conditions Greece has to address to get even a mild extension of support, while the same IMF and EU keep on handing out cash to Ukraine without as much as a whisper -- at least publicly... Read more

A Court Put a 9-Year-Old in Shackles for Stealing Chewing Gum -- an Outrage That Happens Every Single Day.

Susan Rice: Netanyahu Visit 'Destructive' To U.S.-Israel Relationship
HP | Paige Lavender | 02/25/15

Susan Rice, President Barack Obama's national security adviser, said Israeli Prime Minister Benjamin Netanyahu's planned speech in front of a joint session of Congress will be "destructive" to U.S.-Israel relations.

"What has happened over the last several weeks, by virtue of the invitation that was issued by the Speaker [John Boehner] and the acceptance of it by Prime Minister Netanyahu two weeks in advance of his election, is that on both sides, there has now been injected a degree of partisanship, which is not only unfortunate, I think it's destructive of the fabric of the relationship," Rice told PBS' Charlie Rose. ... Read more

A Court Put a 9-Year-Old in Shackles for Stealing Chewing Gum -- an Outrage That Happens Every Single Day
MotherJones | Bryan Schatz | 02/24/15

The nine-year-old stole a 14-stick pack of Trident "Layers" chewing gum, Orchard Peach and Ripe Mango flavor, worth $1.48. He'd lingered by the beverage isle of the Super 1 Foods in Post Falls, Idaho, for a while before bailing out the front door. The theft led to a missed court appearance, which led to an arrest and a night spent in a juvenile jail. The next day, the third-grader appeared in court, chained and shackled.

At least 100,000 children are shackled in the US every year, according to estimates by David Shapiro, a campaign manager at the Campaign Against Indiscriminate Juvenile Shackling. (Formal data on numbers of shackled kids does not exist.) As juvenile justice practices have grown more punitive over the past several decades, shackling has become far more common. Read more

What's New on Netflix (in March)
| New on Netflix in March

Films and Specials
"Patch Adams"
"Finding Neverland"
"The Brothers Grimm"
"Teen Witch"
"30 for 30: Of Miracles and Men"
"Mercy Rule"
"Monster High: 13 Wishes"
"Monster High: Ghouls Rule"
"Rules of Engagement"
"Food Chains" (March 5)
"The ABCs of Death 2" (March 5)
"Aziz Ansari Live at Madison Square Garden" (March 6)
"My Own Man" (March 6)
"The Angriest Man in Brooklyn" (March 9)
"Tyler Perry's The Single Moms Club" (March 9)
"After the Fall" (March 9)
"Cesar Chavez" (March 9)
"Monster High: Haunted" (March 10)
"How to Train Your Dragon 2" (March 11)
"Marvel And ESPN Films Present: Genesis" (March 15)
"You're Not You" (March 17)
"Dummy" (March 17)
"Life Itself" (March 19)
"God's Not Dead" (March 20)
"November Man" (March 23)
"Frankie & Alice" (March 27)
"Ask Me Anything" (March 31)
"The Main with the Iron Fists" (March 31)

TV Shows
"Unbreakable Kimmy Schmidt" (March 6)
"Archer," Season 5 (March 7)
"Glee," Season 5 (March 7)
"3rd Rock From the Sun," Complete Series (March 15)
"A Different World," Complete Series (March 15)
"Bloodline," Season 1 (March 20)
"Mad Men," Season 7 (March 22)
"Garfunkel and Oates," Season 1 (March 25)
"Turn," Season 1 (March 25)
"Trailer Park Boys," Season 9 (March 27)

Nothing False About Temperature Data
factcheck.org | author | 02/12/15

Rep. Gary Palmer falsely claimed on a radio show that temperature data used to measure global climate change have been "falsified" and manipulated.

Palmer, a Republican from Alabama, cited the so-called Climategate episode of five years ago, in which emails written by climate scientists purportedly showed evidence of data manipulation, and a more recent accusation of climate scientists tampering with data from temperature monitoring stations. The Climategate scandal has been subject to several separate investigations, all of which exonerated all scientists involved from any wrongdoing, and the latest data manipulation charges are a mischaracterization of standard and well-validated methods for adjusting temperature records to eliminate factors that could produce inaccurate readings. ... Read more

Democracy Now! U.S. and World News Headlines for Wednesday, February 25 [9:57]
*DN | Obama Vetoes Keystone XL Bill, But Fight over Climate-Threatening Oil Pipeline Isn't Over (02/25/15) [4:33]
*DN | Climate Deniers Exposed: Top Scientist Got Funding from ExxonMobil, Koch Brothers, Big Coal (02/25/15) [6:55]
*DN | Spy Cables: Greenpeace's Kumi Naidoo Targeted by Intelligence Agencies as "Security" Threat (02/25/15) [8:28]
Jon Stewart
Jon Stewart | Jon Stewart Calls Out Bill O'Reilly: 'No One's Watching Him For The Actual Truth'. (02/25/15) [7:13]
PBS Frontline
*PBS Frontline | The Rise of ISIS: Correspondent Martin Smith, who made "Truth, War & Consequences," "Beyond Baghdad," "Private Warriors" and "Gangs of Iraq, investigates the miscalculations and mistakes behind the brutal rise of ISIS. (10/28/14) [53:41]
GRITtv | David Harvey: Money The Great Corrupter (02/24/15) [26:20]
*TRNN | How Banks Help the Super-Rich Hide Over $20 Trillion in Offshore Accounts (02/23/15) [14:18]
TRNN | Historian Greg Grandin reports: No Media Outrage Over O'Reilly Covering Up El Mozote Massacre (02/25/15) [9:29]
TRNN | Robert Kelley says: Iran's Intent is the Real Issue says Former IAEA Inspector (02/25/15) [13:40]
TYT | This Politician Is REALLY Confused About Women's Anatomy (02/24/15) [2:41]
TYT | Bill O'Reilly's "War Zone" Footage Released By CBS News (02/24/15) [10:09]
RT | CrossTalk: 70th anniversary of Yalta Conference (02/25/15) [24:41]
RT | Keiser Report: Sovietization of capitalism (E723) (02/24/15) [25:40]
Thom Hartmann - www.thomhartmann.com/
St. Paul & the Broken Bones - Full Performance [21:49]
Other Videos and Documentaries I Ran Across
Yellen Feb 24 Testimony
Yellen Feb 24 Testimony

02.25.2015. 12:38

Tuesday February 24, 2015
News Articles

Days Before DHS Funding Runs Out, The Post-Shutdown Debate Is Heating Up
HP | Elise Foley | 02/23/15

TSA agents would remain in airports, patrol agents would still be manning the border and Coast Guard officers would continue monitoring the waters if the Department of Homeland Security were to shut down. But out of the public eye, there would be major problems, DHS officials warned Monday, as the Feb. 27 deadline to fund the department creeps closer.

"A shutdown of DHS would have serious consequences and amount to a serious disruption in our ability to protect the homeland," Homeland Security Secretary Jeh Johnson said at a press conference at U.S. Citizenship and Immigration Services headquarters. ... Read more

In 1967, the CIA Created the Label "Conspiracy Theorists" ... to Attack Anyone Who Challenges the "Official" Narrative.

Fed's Yellen describes transition to 'meeting by meeting' debate on rate hike
Reuters | Howard Schneider | 02/24/15

The Federal Reserve is preparing to consider interest rate hikes "on a meeting by meeting basis," Fed Chair Janet Yellen told a congressional committee on Tuesday in a subtle change of emphasis in how the Fed has been speaking about its plans for the first interest rate increase since 2006.

In prepared remarks to the Senate Banking Committee Yellen described how the Fed's rate-setting policy committee will likely proceed in coming months - an effort to increase the Fed's flexibility and mute any potential market reaction as the central bank approaches its "liftoff" date. ... Read more

Fed Warns Equity Valuations "Appear Stretched", P/E Ratios Are "Somewhat Elevated"
ZeroHEdge | author |02/24/15

Confirming last year's warning, The Fed's Monetary Policy Report has sent a broad message to the markets in what may be Yellen's Irrational Exuberance 2.0 moment: "Overall equity valuations by some conventional measures are somewhat higher than their historical average levels, and valuation metrics in some sectors continue to appear stretched relative to historical norms... price-to-earnings and price-to-sales ratios are somewhat elevated, suggesting some valuation pressures... with heightened leverage that is close to levels preceding the financial crisis." ... Read more

Is Citi The Next AIG?
ZeroHedge | author | older

JPMorgan is no longer America's undisputed derivatives king. Well, it still is at the HoldCo level, where it is number one in terms of notional derivatives with $65.5 trillion, but when one steps a level lower, namely the FDIC-insured commercial bank (the National Association or N.A.) level, something quite disturbing emerges. ... Read more
Is Citi The Next AIG?

For more information on Bank exposure to Derivatives

Huge New Holes In Siberia Have Scientists Calling For Urgent Investigation Of The Mysterious Craters
HP | Macrina Cooper-White | 02/23/15

Scientists were baffled last July when they discovered three giant holes in the ground in the Yamal Peninsula in northern Siberia. Now, with the help of satellite imagery, researchers have located four additional craters--and they believe there may be dozens more in the region.

... Researchers ventured deep inside one of the holes last November, collecting data in an effort to learn why the holes formed. The leading theory is that the holes were created by gas explosions triggered by underground heat or by rising air temperatures associated with climate change, the Siberian Times reported last December. ... Read more

*DN | Revolt at "Ritmo": Dire Conditions in For-Profit Texas Immigration Jail Spark Prisoner Uprising (02/24/15) [8:30]
*DN | As Netanyahu Tries to Stop U.S.-Iran Deal, Leaked Cables Show Israeli Spies Reject His Nuke Claims (02/24/15) [9:00]
Israel's spy leaders call for peace: 'The Gatekeepers' (2012) [10:15]
While most people have heard of Mossad, few have heard of Israel's internal secret service, Shin Bet. For the first time, all six living former leaders of the this secretive spy agency have agreed to talk publicly. The result is the feature documentary The Gatekeepers (distributed by Madman Entertainment in Australia), which is screening at the Israeli Film Festival in Sydney before a general release around the country.
John Oliver
*HBO | Last Week Tonight with John Oliver: Elected Judges (02/22/15) [13:26]
*60 Minutes | A new kind of terrorist - Reports on the French neighborhood and prison that gave rise to the terrorists who carried out the two deadly attacks in Paris last month (02/15/15) [13:24]
60 Minutes | The Republican Leaders: Boehner and McConnell - House Speaker John Boehner and Senate Majority Leader Mitch McConnell sit down for their first joint interview since the new Republican majority Congress convened (02/15/15) [13:37]
TRNN | Michael Hudson says Greece's Finance Minister Yanis Varoufakis is proposing austerity on the banking class, rather than the working class, to balance the budget. (02/24/15) [12:47]
*TRNN | Mark Reutter, author of Making Steel: What Happened to Making Steel in Baltimore? Part 1 (02/24/15) [12:45]
TRNN | Mark Reutter, author of Making Steel: What Happened to Making Steel in Baltimore? Part 2 (02/24/15) [15:02]
TYT | Should Neil Patrick Harris Be Given A Pass For 'Treason' Joke? (02/23/15) [4:15]
Thom Hartmann - www.thomhartmann.com/
Other Videos and Documentaries I Ran Across
Note: I don't endorse any of the videos in this section.
As I construct My News Pages I constantly run across a lot of NEW videos, and since I find YouTube frustrating trying to re-find videos, I save the links in this section so I can find them again.

02.24.2015. 12:44

Monday February 23, 2015
News Articles

Dow, S&P 500 Hit Record Highs After Greece Debt Deal
Reuters & HP | author | 02/20/15

* Nasdaq matches 8-day winning streak from year ago
* Three major indexes post gains for week
* Intuit rises after results
* Indexes up: Dow 0.9 pct, S&P 0.6 pct, Nasdaq 0.6 pct (Updates to close)
The Dow and S&P 500 ended at record highs on Friday while the Nasdaq notched an eighth straight day of gains after Greek and euro zone finance ministers reached a deal to extend heavily indebted Greece's financial rescue by four months. ... Read more

Biggest Winners and Losers of the Oil Price Crash
Blooberg | Isaac Arnsdorf | 02/20/15

  1. Winner: U.S. Dollar - The U.S. is sending fewer dollars overseas to pay for its oil imports, helping to strengthen the greenback.
  2. Saudi Arabia, United Arab Emirates, Qatar and Kuwait - These wealthy producers are determined to protect their market share.
  3. hedge fund PointState Capital, Zach Schreiber
  4. The Philippines - Economic growth in the island nation, which imports almost all its oil, will accelerate to 7.6 percent on average in the next two years with oil at $40 a barrel, according to Oxford Economics Ltd.
  5. Tankers - Ship owners get more cargoes and cheaper fuel at the same time. Traders may even hire tankers as floating storage.
  1. Loser: Inflation Targets - Cheaper energy is pushing down prices at a time when central banks want more inflation, to prevent a sharp decline in prices and wages.
  2. Venezuela, Iran and Nigeria - OPEC's weaker members need higher prices but can't afford to cut production.
  3. Buyout Moguls - year-over-year profits for David Rubenstein's Carlyle Group (down 65 percent; Rubenstein shown here), Leon Black's Apollo (79 percent drop) and Henry Kravis's KKR (down 94 percent). The private equity gang had invested heavily in the industry during the boom years.
  4. Greenland - Dreams of a drilling boom -- and economic independence -- have vanished as prices collapsed.
  5. Deepwater Drilling - Projects conditioned on higher prices don't make sense in the new oil era, according to Goldman Sachs.
Read more

A Close Encounter With Jon Corzine (& MF Global)
ZeroHedge | author | 02/21/15

MF Global Goes Bust
Jon Corzine had an illustrious career in investment banking, rising to the very top of Goldman Sachs, until he got pushed out in 1999. He subsequently decided to try his luck in politics, and was eventually elected as a Senator from New Jersey in 2001, then Governor in 2006.

After losing to Chris Christie in 2010, Corzine was promptly hired as the CEO of MF Global. He was back in the game of finance - and with something to prove. While the majority of voters in New Jersey breathed a sigh of relief, the clients of MF Global could not imagine the disaster that would unfold.

And it did not take long. Corzine's idea was to turn an annuity-like brokerage business into a high flying investment bank (complete, it seems, with its own proprietary trading desk). When the firm's US$7 billion highly leveraged bet on risky Eurozone bonds turned sour in 2011, MF Global eventually ran out of funds to meet margin calls. What followed was the US$40 billion bankruptcy of a firm that traced its roots all the way back to the 18th century Britain -- after just a year and a half under Corzine's leadership. ... Read more

This Is The Biggest Problem Facing The World Today: 9 Countries Have Debt-To-GDP Over 300%
ZeroHedge | author | 02/13/15

If anyone has stopped to ask just why global central banks are in such a rush to create inflation (but only controlled inflation, not runaway hyperinflation... of course when they fail with the "controlled" part the money paradrop is only a matter of time) over the past 5 years, and have printed over $12 trillion in credit-money since Lehman, the bulk of which has ended up in the stock market, and which for the first time ever are about to monetize all global sovereign debt issuance in 2015, the answer is simple, and can be seen on the chart below.

It also shows the biggest problem facing the world today, namely that at least 9 countries have debt/GDP above 300%, and that a whopping 39% countries have debt-to-GDP of over 100%! ... Read more
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Democracy Now! U.S. and World News Headlines for Monday, February 23 [10:55]
*DN | "Mayor 1%" Rahm Emanuel of Chicago Faces Progressive Challenge in Heated Bid for Re-election (02/23/15) [6:07]
*TRNN | Gerald Epstein: Will Quantitative Easing Solve the European Economic Crisis? (02/23/15) [7:25]
TRNN | Bill Black explains: Iceland's Supreme Court Upholds Jail Sentences of Four Banking Executives (02/23/15) [11:34]
TRNN | Michael Ratner says: The PA and the PLO Face Billion Dollar Trial in US Court (02/23/15) [13:54]
TYT | Jeb Bush Has A Dirty Secret & Conservatives Just Found Out (02/21/15) [3:40]
TYT | Jeb Bush Rejects His Brother By Doing More Of The Same (02/22/15) [7:08]
TYT | Tax-Hating Governor Targeted By Tax-Hating Purity Police (02/21/15) [10:42]
*RT | CrossTalk: Forever War (02/23/15) [24:04]
RT | Keiser Report: Central Bank Command, Control World (E722) (02/21/15) [25:45]
Thom Hartmann - www.thomhartmann.com/

02.23.2015. 12:18

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