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Monday, August 08, 2011

Gannett Corporation Stock Tumbles - (The Daily Times Parent Company) - Record Low Price Sets Record

Today - Gannett Corporation - GCI trading symbol - (The Daily Times parent company) - set an all time yearly record low price of $9.94 cents per share. Moreover - Gannett may be a prime takeover target.

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Baseball Still Not Ready For An Openly Gay Player

Glenn Burke documentary important reminder of past struggles, current issues for athletes and sexual orientation

Hollywood is in the business of putting keisters in seats, and right now business is good. It's also why there's a new movie coming out about the Oakland A's that features Brad Pitt as Billy Beane (the "Moneyball" one), and not Jamie Foxx as Glenn Burke. The former is safe -- unless you hate math. The latter would definitely be controversial. And here in 2011, that's sad indeed.

Burke, as you may know, was the first openly gay player in the majors. Although he didn't officially come out until two years after he retired, his true sexuality was common knowledge among other players when he played. He was in the majors for only four seasons, with the Dodgers and the A's, and some say he walked away. But many of his friends and teammates say he was driven out of the game because of his sexual orientation. That was in 1979. By 1995 he was dead, a victim of AIDS.


(COLLEGE PARK, MD) – No warnings will be issued Wednesday, so Maryland State Police are warning motorists now of an increased enforcement initiative that morning in the high occupancy vehicle (HOV) lanes on Rt. 50 in Prince George’s County.

In response to numerous citizen complaints, extra state troopers will be saturating Rt. 50 in Prince George’s County from Rt. 301 to I-495 this Wednesday morning. Troopers will use both moving and stationary enforcement to ensure compliance with the HOV lane restrictions along that section of the highway. Troopers will adjust enforcement methods to minimize the impact on traffic flow during the operation.

“This enforcement effort is about more than just HOV compliance,” Lt. Mike Powell, Commander of the College Park Barrack said. “Traffic safety is a necessity on Maryland’s highways, especially in areas prone to congestion. Our stepped-up visibility will hopefully be a reminder to all motorists of the need during their commutes to always buckle up, avoid distractions, share the road, drive drug and alcohol free and obey traffic control signs and devices.”

High occupancy vehicle lanes are reserved for carpools, vanpools, buses, and motorcycles during designated time periods. The intent of HOV lanes is to encourage carpooling and reduce the number of vehicles on the highway, especially during rush hours. Maryland law restricts vehicles using the HOV lanes to those occupied by two or more people.

An occupant is any person who occupies one seat in the vehicle. For example, a pregnant mother counts as one occupant. An infant in an infant seats counts as one occupant. Single-occupant motorcycles are permitted in Maryland HOV lanes.

The HOV restrictions along the 7.5 mile stretch of HOV lanes on Rt. 50 are in operation 24-hours-a-day. Motorists who violate the HOV laws will be charged with failing to obey a traffic control device and/or changing lanes where prohibited by a traffic control device. Both charges carry a penalty of a $90 fine and one point each.

City Fire Department Surrenders EMS Designation

EMS Board Meeting Had Been Set For Tuesday

The Baltimore City Fire Department has voluntarily suspended its authority to train Emergency Medical Services personnel at the city fire academy.

The decision, announced in a news release Monday, came in the wake of a cheating scandal and several other problems uncovered by the state agency that certifies the academy.

A state EMS board meeting that had been scheduled for Tuesday in connection with the issue has been canceled.

"I understand that this was a difficult decision for the Baltimore City Fire Department," said Donald DeVries Jr., the chairman of the state EMS board. "And I appreciate the department's commitment to providing the highest quality Emergency Medical Services to the citizens of Baltimore."

I Feel So Safe Now!!

Having just listened to the mumblings of our President, listening closely as he said out of one side of his mouth that the markets have confidence in the good ole’ USA (as they collapsed even more as he spoke) and then spent about half his speech on a panegyric in tribute to those poor guys killed yesterday in the shot down chopper near Kabul, I can say one thing with assurance.

He wanted to get off the subject of the economy and debt downgrade as quickly as he could possibly do it and, even more importantly, he never – not even a single time – mentioned what the real problem is.
He did not say a single word that would indicate even to the most attentive listener, that he even knows what the unsolvable problem is both here and in Europe.

His suggestimonious speech only mentioned more spending (unemployment for the masses, lower taxes for the masses, perhaps an “adjustment” to medicare), plus “We’ll keep kicking ass all over the world!” which, of course, equals more spending too.

What word did he neglect to say? “DEBT“, that’s what. Trillions and Trillions of MBS, CDS, BULLShitPaper, dollars, pounds, euros, pesos, reals, yuan, rememberme’s (or how ever you spell it in Chinese), rubles and every other currency denominated debt you can add to the list that are hanging out there, needing to be “rolled over”, interest paid promptly and eventually – here’s the kicker – repaid or retired or otherwise cleared off the books.

He didn’t mention that Europe and the USA are so deep in debt, unfunded liabilities and swamps full of sharp toothed derivatives of a dozen sorts.

He skipped the simple fact that it is now a mathematical certainty that we are so deep in debt that more debt does not increase GDP – IT REDUCES IT! Fact: The more debt a country has, the slower it can grow because funds needed for growth must instead be paid as interest and fees to roll over the debt.  At some point (we’ve passed it in 2000), the debt is beyond the ability of the country to cope without resorting to the printing press (which we are/have).


It’s Time To Be Very Concerned About What’s Going On Behind The Scenes

Ancient Greek mythology tells the tale of Odysseus, the heroic king of Ithaca whose 10-year journey home after the Trojan War became one of the world’s most famous epics.

At one point in the journey, his ship was heading straight for two deadly hazards– on one side was Scylla, a six-headed monster disguised as a giant rock, and on the other side was Charybdis, a sinister whirlpool born from the sea god Poseidon.

The perils were close enough to pose an inescapable threat to ships passing through, forcing the captain to choose between the two evils. A Latin proverb from this story, “incidit in scyllam cupiens vitare charybdim” (he runs on Scylla, wishing to avoid Charybdis), is now “between a rock and a hard place” in modern English.

This is exactly where the entire world finds itself right now. With confidence vanishing, markets panicking, and entire nations going bankrupt, ultimately there are no good solutions… and thinking people need to understand some simple truths about the situation:

1) America’s credit rating was punished by S&P because US politicians failed to reach an adequate solution to the country’s massive debt woes which are nearing 100% of GDP. Investors reacted by buying the Japanese yen– a country whose sovereign debt rating is two steps below the US, and at 220% of GDP, over twice as indebted!

Not to mention, Japan has burned through 4 prime ministers and 8 finance ministers just in the last four years. This is not exactly a country whose government has a successful track record of dealing with its problems.
How does this make any sense? That’s like firing an employee who gets drunk on the job and replacing him with a gun-toting heroin addict. Yet faced with a universe of bad choices, investors will pick the one which appears to be the ‘least worse’.

This approach is sure to create even more gross misallocations of capital down the road.

2) World governments have gone on the offensive against S&P, slamming the rating agency and trying to discredit the firm’s financial calculations without acknowledging the underlying premise– that America lacks a credible plan to deal with its crisis.

Leaders from countries as diverse as France, South Korea, and even Russia have all shrugged off the downgrade and publicly reiterated their confidence in the United States.

(They even rolled out Warren Buffet who said that the US deserves “a quadruple-A” credit rating.)
You know that old adage– how do you know that a politician is lying? Because his lips are moving. When so many world leaders are expressing nearly unanimous support for the dollar and the US government, it’s time to be very concerned about what’s going on behind the scenes.



On Saturday, Buffett told Bloomberg Television’s Betty Liu S&P made a mistake and the U.S. deserved a “quadruple A” rating. Buffett told CNBC Monday that he disagrees with Standard & Poor’s decision to downgrade long-term U.S. debt. “If anything, it may change my opinion on S&P,” said Buffett, who is chairman and CEO of Berkshire. Buffett’s Berkshire Hathaway is one of the biggest shareholders in S&P’s main competitor, Moody’s Corp., with about 28 million shares. But the billionaire has long urged people to make their own decisions about an investment’s prospects without relying on credit rating agencies.

A National Debt Of $14 Trillion? Try $211 Trillion

Wisconsin Fairgoers Attacked, Violently Beaten

You head out in the minivan for a fun-filled day with the family at your local mall or the fair. The next thing you know all hell breaks loose and hundreds of individuals are attacking shop keepers, stealing, and violently attacking patrons.
The police, as is typically the case during such incidents, are nowhere to be found until it’s too late.
This is exactly what happened in Milwaukee at the Wisconsin State Fair when hundreds of individuals attacked patrons and passersby:
Witnesses’ accounts claim everything from dozens to hundreds of young black people beating white people as they left State Fair Thursday night.

The Farmer’s Perspective: How Farmers Markets Help Producers

During National Farmers Market Week, we celebrate farmers markets across the country, their popularity and their growth.  But there wouldn’t be any farmers markets without farmers. Just as farmers markets help consumers know their farmer and know their food, they also help producers know their customers and know their business.  I’d like to share with you one Virginia farmer’s account of how a farmers market helped him:
“My name is John Biscoe. I own Glenburnie Farm Produce Company. We grow microgreens, herbs and seasonal vegetables on our farm in western Spotsylvania County, Virginia. My family has farmed the same land since the early 1860s, primarily raising cattle—first for beef and later for dairy.

I began selling produce direct to restaurants over 10 years ago and began selling at farmers markets in 2010. Currently I sell to restaurants in the Fredericksburg area and at the Spotsylvania Farmers’ Market.

In a practical sense I benefit most from our farmers market simply because it provides me a setting for the sale of my products at retail prices. For the most part, we farmers are very good at aspects of our operations related to production, but somewhat less so at marketing and sales. My farm is located outside the most heavily populated areas of our county and on roads which don’t bear enough traffic to support a significant retail enterprise. The market affords me access to people without having to expend time, money, and intellectual energy (all of which are in short supply much of the time).  The market creates a venue for them to come to me.


The Stock Market And The Dollar: There Are Only Three Possibilities

With stocks and the dollar on a see-saw, there are only three possibilities to choose from.

Since the stock market is in the news (perhaps as a result of trillions of dollars/euros/yen/yuan/quatloos having suddenly vanished from millions of accounts), it seems timely to examine the key correlation between stocks and the U.S. dollar. As I have often noted here, this "big picture" correlation is a simple see-saw: when the dollar is scraping bottom, stocks are at their highs, and when the dollar is up then stocks are tanking.

At the risk of alienating chart-averse readers, I've marked up the charts of the S&P 500 (SPX) and the U.S. dollar index (DXY).

For those who aren't going to look at the charts, what they suggest is that there are really only three possibilities in play:

A. Stocks go up and the dollar drops to new lows
B. Stocks fall and the dollar rises significantly, a pattern that has repeated several times since 2007
C. The see-saw breaks and stocks and the USD rise or fall together.

The key to the relationship between stock valuations and the dollar is corporate profits. When the dollar declines, then U.S. global corporations' overseas earnings--now roughly 60% of total profits for many big global corporations--expand as if by magic when stated in dollars.


Motorized Beer Cooler Driver Charged With Drunk Driving

NOOSA, Australia -- An Australian man caught driving a motorized cooler box through a beachside resort town appeared in court charged with drunk driving, The Courier Mail reported Monday.

Christopher Ian Petrie, 23, faces charges of driving under the influence and driving without a license after police caught him on the makeshift vehicle, which was powered by a 50cc engine.


Jacqueline Kennedy Reportedly Believed Lyndon B. Johnson Behind JFK's Assassination

Jacqueline Kennedy-Onassis believed Vice President Lyndon B. Johnson was behind the assassination of her husband, according to tapes recorded by the former first lady just months after President John F. Kennedy's death, the Daily Mail reports.

The tapes, which are set to be released by ABC News, reportedly reveal that Kennedy-Onassis believed then-vice president Johnson, along with businessmen in the South, planned the Nov. 22, 1963, assassination of her husband in Dallas, Texas. 

"The tabloid reports about the content of the tapes are totally erroneous," an ABC News spokesperson said in a statement to "ABC News isn't releasing any content from those tapes until mid-September at which point it will be clear how off base these reports are. The actual content of the tapes provide unique and important insight into our recent past from one of the most fascinating and influential First Ladies in American history."   
Kennedy-Onassis thought gunman Lee Harvey Oswald -- long believed to be a lone assassin -- was part of a larger conspiracy involving Johnson, according to the Daily Mail.


4 People Drown In Maryland Over Weekend

MECHANICSVILLE, Md. - Authorities say four people drowned in Maryland over the weekend, including two young men swimming in the Wicomico River near Mechanicsville


AIG Suing Bank Of America Over Bad Mortgages

In a legal battle that could be dubbed an all-star edition of our Worst Company In America tournament, AIG intends to sue Bank of America to get back $10 billion it lost investing in toxic mortgages made by BofA and two of its most infamous acquisitions, Countrywide and Merrill Lynch.

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Catholics vs. Tea Party re: Maryland Dream Act

And the winner is, based on humanity, faith and sheer intelligent pragmatism- The Catholic Diocese in Maryland.

This organization has been seeking to educate their congregants about the Dream Act, at first urging them not to sign a petition bringing it to referendum and then, voting against the repeal now that it is on the ballot.

The Dream Act allows undocumented students to attend our Community Colleges, paying in-state tuition; if their parents pay taxes and they have attended a high school here for at least 3 years.

And the Tea Party, various groups, Delegate Parrott- R. Washington Co- as well as some citizens are up in arms.




The City Council’s work session, originally scheduled for 1:30 p.m. on August 15, 2011, has been changed to 10:00 a.m. on August 22, 2011.

The work session will be held in Conference Room 306 of the City/County Government Office Building.

Senator's Nuanced Advocacy On Tolls Could Help Drivers

Residents near Hatem bridge look for relief from Transportation Authority

When the Maryland Transportation Authority board met in a work session last week to hammer out the final details of what is expected to be the largest toll increase in the state's history, there were only two people there besides members and staff.

One was a reporter who pretty much had to be there to do his job. The other was a state senator who didn't have to be there to do hers.

That legislator was Sen. Nancy Jacobs, a Republican who represents Harford and Cecil counties — two jurisdictions that have a huge stake in the outcome of the board's deliberations.


Breaking News-Nightmare on Wall Street; Dow Tumbles Over 500 Points After S&P Downgrades US Credit

Wall Street tumbled again Monday, with the Dow Jones industrial average down over 500 points and trading below the 11,000 level for the first time since November, amid a rout in global stocks after rating agency S&P downgraded the U.S. credit rating for the first time.
S&P cut the long-term debt rating for the U.S. by one notch to AA+ from AAA late Friday. The move wasn't unexpected, but it comes when investors are already feeling nervous about a weak U.S. economy, European debt problems and Japan's recovery from its March earthquake.

Four Dead In Apparent Arundel Co. Murder-Suicide

Two adults, two teens found Sunday in Brooklyn Park, police investigating

A Brooklyn Park man killed his wife and her twin children on Sunday before he sent a text message to his mother and turned a gun on himself, police said.

Anne Arundel County Police identified the man as Kelly Brian Thompson, 33, who lived in a Wood Street rowhouse. They said he first shot and killed his wife, Nina Thompson, 34, and her 15-year-old twins, Taishawn Pugh, a girl, and Treshawn Pugh, a boy.

He then texted an agitated message to his mother, who called police and went to the house around 9 a.m., police said. As she and the police stood outside the Wood Street residence, they heard the self-inflicted gunshot that killed Thompson.

"Right now all indications are that this was a murder suicide — that the male shot and killed the other three persons and then shot himself as the officers were talking to his mother," a county police spokesman, Lt. J.D. Batten, said.


Make Your Own Indoor HDTV Antenna From Cardboard And Aluminum Foil

You could drop $40-$70 on an indoor HDTV antennae, or you could make your own for a few bucks out of cardboard and aluminum foil. Since most TVs have built-in HD tuners, you can get local TV without paying for cable just by applying your DIY know-how. Reader Dave shares his instructions.

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Macy's Admits It's Totally Peeping On You In The Fitting Room

If you live in Florida and feel like someone's peeping on you in the department store fitting room to make sure you're not thieving, well, they could be!

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As more US soldiers got killed today in one of our unconstitutional wars, there has been one man who has consistently fought against the military industrial complex. His name is Ron Paul and if you really want to change this country get out and do something to get him elected.

Congressional Reform Act Of 2011

The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971...before computers, before e-mail, before cell phones, etc.

Of the 27 amendments to the Constitution, seven (7) took 1 year or less to become the law of the land...all because of public pressure.

Congressional Reform Act of 2011
1. No Tenure / No Pension.
A Congressman collects a salary while in office and receives no pay when they are out of office.

2. Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system
and Congress participates with the American people. It may not be used for any other purpose.

3. Congress can purchase their own retirement plan, just as all Americans do.

4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

5. Congress loses their current health care system and participates in the same health care system as the American people.

6. Congress must equally abide by all laws they impose on the American people.

7. All contracts with past and present Congressmen are void effective 1/1/12. The American people did not make this contract with Congressmen.
Congressmen made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to

America's Real Job Creators Are Broke

As narrators used to say in Western movies: "Meanwhile, back at the ranch..."

Our policymakers in Washington have totally lost sight of what's happening at the ranch. John Boehner's GOP-controlled House and Barack Obama's White House have agreed to slash trillions of dollars from the federal budget, as though that's America's most important need.

Bovine excrement! If they'd lift their vision to the countryside, even they could figure out that our great economic urgency is for the creation of good, middle-class jobs to get America moving again — moving upward and moving together.

Today, we are a dangerously disunited society. Elite CEOs and big investors are grabbing all the gains, leaving the vast majority mired in recession and facing falling incomes. Since the recession technically "ended" 18 months ago, corporate profits have zoomed, sopping up an unprecedented 88 percent of America's economic growth. Meanwhile, only one percent of the growth that we all help produce has gone to wages and salaries, the primary sources of income for 90 percent of us.

Gold Price Tops $1,700 As Investors Seek Refuge

The price of gold streaked past $1,700 an ounce for the first time Monday. Investors, beset by worries about the U.S. debt downgrade, Europe's financial crisis and slowing global growth, sought safety in the metal as stocks tumbled around the world.


Obama: US Will Always Be A AAA-Rated

President responds to S&P downgrade of nation's long-term debt rating

President Barack Obama said Monday that the United States will always be a AAA-rated country, responding to Standard & Poor's decision late Friday to cut the long-term debt rating for the U.S. by one notch to AA+ from AAA.

Speaking on the downgrade issue at the White House Monday, Obama urged lawmakers to work together to tackle the nation’s deficit.

“We didn’t need a rating agency to tell us we need a balanced, long-term approach to deficit reduction,” he said. “My hope is that Friday’s news will give us a renewed sense of urgency.”

O'Malley Spars With Sessions On 'This Week'

Maryland Gov. Martin O'Malley (D) tangled with Sen. Jeff Sessions (R-Ala.) on a Sunday talk show, accusing the ranking Republican on the Budget Committee of worshiping at "the altar of the false god of tax cuts" instead of focusing on job creation.


BREAKING NEWS: Dow Plummets 500 Points, Below 11,000

Stocks are in freefall Monday afternoon, with the Dow Industrials off by more than 500 points and trading well below the 11000 mark. Downside volume on the NYSE is a remarkable 98% as stocks of every variety get crushed.
From Fox News

Democrats Trying To Blame The Tea Party For S&P Downgrade

I'll make this brief. Perhaps, (sooner than later) democrats will be thanking the Tea Party for making democrats be accountable for their out of control spending.

S&P executives openly stated that one of the reasons they downgraded the AAA rating was because our politicians just want to point fingers and NOT concentrate their time resolving this crisis.

So let's see what our readers have to say through comments. Do you actually feel it is the Tea Party that is to blame, or do you think BOTH republicans and democrats are to blame.

Student Debt Rises; Graduation Rates Flat

A new report finds that it's taking increasingly more student debt to produce a degree in this country – meaning that while students are collectively paying more for an education, the nation's colleges and universities aren't producing a proportionate increase in degrees and certificates.


BREAKING NEWS: Stocks Move To Session Lows, Dow Falls 400 Points

There’s been no let up in the selling on Wall Street, with the Dow Jones Industrial Average recently touching its session low, down 400 points at 11044. Technology stocks are being pummeled -- the Nasdaq Composite index is off 4.5% -- and Treasurys continue to rally.
From Fox News

States Can't Opt Out Of Secure Communities Program

In an unusual move, the Obama administration has told governors they cannot exempt their states from the controversial Secure Communities program, which uses fingerprints collected by local and state police to help immigration authorities identify and deport tens of thousands of criminals each year.


Sewage Spilled In Delaware River

An electrical fault in a key pumping system sent 13.5 million gallons of partially treated sewage into the Delaware River at Wilmington on May 20, but details of the mishap came to light only recently in a state notice of environmental law violations.


Prepare To Pay More In Tolls While Driving In NY, NJ

Driving to New York from New Jersey could become more expensive, as proposed toll increases would raise the cost for using several bridges and tunnels — currently maxing out at $8 — up to $15 during peak hours in September, and as much as $17 in 2014.

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Firestone Was A Big Win For Adam Scott — And Bigger For Steve Williams

AKRON, Ohio — The lead was three shots and Adam Scott had already hit his approach relatively close. So as he approached the 18th green on a sultry Sunday afternoon, it was a drama-free walk. It was a victory march for Scott, a sweet and satisfying moment of relief and redemption and joy.

So he'll never forget how the Bridgestone Invitational fans, who were enthusiastic despite the big lead, serenaded him with cheers as he reached the green: "Ste-vie Will-iams! Ste-vie Will-iams!"


Oil Prices Plunge To The Lowest Point Of The Year

Cost of gasoline also dropped a penny for national average of $3.663 a gallon

Oil prices are at their lowest level of the year after Standard & Poor's downgraded the U.S. credit rating.

Benchmark West Texas Intermediate crude fell $3.33 to $83.55 per barrel Monday morning on the New York Mercantile Exchange. The previous settlement low for the year was $84.32 per barrel in mid-February.

BREAKING NEWS: Obama To Speak On Economy, Afghanistan

President Obama delivers a statement to the press about the economy and the war in Afghanistan at 1 p.m. ET.

From Fox News


Juvenal makes reference to the Roman practice of providing free wheat to Roman citizens as well as costly circus games and other forms of entertainment as a means of gaining political power through populism. Roman politicians devised a plan in 140 B.C. to win the votes of the poor: giving out cheap food and entertainment, “bread and circuses”. The Roman politicians realized this would be the most effective way to rise to power and stay in power.

With the revolting display of political theater in the last few weeks, I couldn’t help but consider the parallels between the Roman Empire and the American Empire. The entire debt ceiling farce was a circus on an epic scale – The Greatest Show on Earth. The American public was treated to high wire acts of near debt experiences, Senators putting their heads into the mouths of lions, and hundreds of clowns riding tiny bikes with squeaking horns. In the end, American politicians did what they do best - pretended to solve a spending problem without cutting spending. Only in America could politicians put the country on course to increase its national debt from $14.5 trillion to $23 trillion by 2021 and declare they are cutting spending. For those that need to visualize the lies of politicians, take a gander at this chart and try to find the cuts in spending.
You have a better chance of finding a unicorn in your backyard than finding actual cuts in spending from the corrupt clowns inhabiting the halls of Congress. If you are driving your car towards a brick wall at 120 mph and you slow down to 118 mph, the ultimate result will be the same. The only way to avoid disaster is to jam on the brakes. But, the liberal and conservative politicians are both enjoying the ride fueled by millions in corporate, union, Wall Street and a thousand other special interest payoffs.

The Roman authorities provided free wheat to the peasants as a superficial means of appeasing the masses and distracting them from the fact that public policy and public service had failed, as corruption and decadence engulfed those in control of government. Free bread, chariot races, and feeding Christians to lions kept the small-minded peasants satiated and ignorant of their civic duty. Today, the authorities don’t hand out bread they hand out EBT cards to 45.5 million Americans, or 14.6% of the entire population.


HFT Firms At Long Last Subpoenaed

And they thought they would get away with it... Over a year after HFT firms succeeded in crashing the stock market following an unprecedented spike in churn which eliminated all market liquidity in non-rebate providing stocks, followed by an across the board HFT STOP move which sent the Dow down 1000 points literally in seconds, the same HFT parasites that do nothing to provide liquidity but merely collect rebates in a low price, few high volume stocks as Zero Hedge has been warning since the summer of 2009, are finally getting the regulators to act and not to pull an Obama and blame it all on Waddell and Reed. Reuters [2] reports: "The U.S. securities regulator has sent subpoenas to high-frequency trading firms in relation to last year's "flash crash" probe, the Wall Street Journal reported, citing people familiar with the matter. The Securities and Exchange Commission (SEC) is also examining whether these firms further exacerbated the panic on May 6, 2010, when U.S. stock markets suffered a record fall within minutes, the Journal said. Some of the subpoenas have been sent since the start of the summer, the people told the Journal. The paper did not name the firms involved. [coughgetcocough] It is not known whether the subpoenas will result in any enforcement actions, the paper said. A subpoena does not necessarily reflect a suspicion of wrongdoing." Well, it is known that no enforcement actions will result if the SEC wants to retain its invisible low volume melt up bid which has pushed the market ever higher on 98% of the trading days in the past 2.5 years. If however, the SEC is willing to pull and S&P and finally do the right now, then all the 19 year olf math wizards who control 70% of the S&P churn should be worried. Very worried. As should all the momos whose only strategy for the past two years been BTFD.
Ah the horror: to think that the alternative of HFT is having to learn such arcan concepts as "fundamentals" and relative value.


9 Out Of 10 Preschooler's Lunches Reach Unsafe Temps

The sack lunches of most preschoolers reach potentially dangerous temperatures by the time kids eat them — even if an ice-pack was included, a new study shows.

Downgrade's Full Impact May Not Be Felt Quickly

Given US's importance to international finance, many questions still remain

A downgrade of United States' top-tier credit rating has Wall Street scrambling to figure out the secondary effects for the financial system, from mortgages to banks to markets that rely on U.S. Treasuries for collateral.

The immediate effects of the Standard & Poor's downgrade of the country's AAA credit rating late on Friday are likely to be modest, largely because it was expected and already at least partly discounted, experts said.

Many downplayed the likelihood of the sort of financial contagion experienced when Lehman Brothers went under in September 2008. Few had expected it to have to file for bankruptcy, and few were prepared for the fallout. Money market funds froze, some major commercial banks collapsed, and many major dealers and finance houses teetered on the edge of failure.

Md. Could Lose AAA Rating, Too

S&P Downgrade Could Cause Trouble For Maryland

As Wall Street braces for another topsy-turvy day in the wake of Standard and Poor's credit downgrade, Maryland still retains its AAA bond status, but some are questioning how much longer that may stand.

With Maryland's proximity to the federal economy, the state may lose its AAA bond rating, too, according to Comptroller Peter Franchot.

"We in Maryland have always paid attention to putting our fiscal house in order. We have a AAA bond rating that we've worked really hard for, but it's probably going to be taken away, through no fault of our own," Franchot told 11 News.

He said that will directly affect Maryland consumers.


Put me in charge of food stamps.  I'd get rid of Lone Star cards; no cash for Ding Dongs or Ho Ho's, just money for 50-pound bags of rice and beans, blocks of cheese and all the powdered milk you can haul away.  If you want steak and frozen pizza, then get a job.

Put me in charge of Medicaid.  The first thing I'd do is to get women Norplant birth control implants or tubal ligations.  Then we'll test Recipients for drugs, alcohol, and nicotine and document all tattoos and Piercings.  If you want to reproduce or use drugs, alcohol, smoke or get tats and piercings, then get a job.

Put me in charge of government housing.  Ever live in a military barracks? You will maintain our property in a clean and good state of repair.  Your "home" will be subject to inspections anytime and possessions will be inventoried.  If you want a plasma TV or Xbox 360, then get a job and your own place.

In addition, you will either present a check stub from a job each week or you will report to a "government" job.  It may be cleaning the roadways of trash, painting and repairing public housing, whatever we find for you.  We will sell your 22 inch rims and low profile tires and your blasting stereo and speakers and put that money toward the “common good.”

Before you write that I've violated someone's rights, realize that all of the above is voluntary.  If you want our money, accept our rules. Before you say that this would be "demeaning" and ruin their "self esteem," consider that it wasn't that long ago that taking someone else's money for doing absolutely nothing was demeaning and lowered self esteem.

If we are expected to pay for other people's mistakes, we should at least attempt to make them learn from their bad choices.  The current system rewards them for continuing to make bad choices.

AND While you are on Gov’t subsistence, you no longer can VOTE! Yes that is correct.  For you to vote would be a conflict of interest. You will voluntarily remove yourself from voting while you are receiving a Gov’t welfare check.  If you want to vote, then get a job.

When Dollar Stores Are Too Expensive

Families are sticking to what they need, steering clear of discretionary items

When he was Fed chairman and had access to the best economic data and minds on the globe, Alan Greenspan famously liked to forecast the direction of the economy by studying sales of men's underwear. Even during the best of times, underwear purchases remain pretty flat, he noted. (What dude who has just gotten a raise thinks: "Ah yes! I'll upgrade my entire collection of briefs now!") Only during the worst of times — when people are really, really cutting back — do boxer and brief purchases drop off.

The reverse logic usually holds for America's dollar stores. Customers flock to the chains, which sell thousands of products for a buck or $2 or $10, when times get tough. When the economy improves, they shop at nicer outlets, like Target. But there are some worrisome signs that the prolonged economic malaise has changed even this retail paradigm. Middle-class households remain reluctant to spend. And cash-strapped consumers are finding even dollar stores a bit too expensive.

BREAKING NEWS: Dow Down Nearly 300 Points

Dow Jones Industrial Average trading down nearly 300 points at noon after S&P adds mortgage giants Freddie Mac and Fannie Mae to debt downgrade.
From Fox News

Federal Taxes On Airline Tickets Are Coming Back

People who traveled during the partial shutdown of Federal Aviation Administration furlough, will not get that money back. And, the Internal Revenue Service said it will collect taxes retroactively. However, the IRS said it will give travelers a break — people who bought tickets during the partial shutdown won't have to pay extra to Uncle Sam, but airlines will. In just two weeks the airline industry made an extra $400 million by hiking its prices by the amount of the federal tax.

The Army Plans To Cut Nearly 9,000 Civilian Jobs By October Of Next Year

Army Secretary John McHugh had ordered Army leaders to start cutting staffing to help meet former Defense Secretary Robert Gates' efficiency initiatives. The Army will save $834 million dollars in operations and maintenance funding as part of those cuts, which amount to about 3 percent of the Army's more than 290,000 civilian employees.McHugh said the Army cannot turn to contractors to replace the civilian employees

Obama Has Signed A Measure Extending The FAA's Authorization

The new law funds the FAA through mid-September. The stop-gap measure ends the two-week partial shutdown at the aviation administration that saw 4,000 employees furloughed and construction projects nationwide halted. FAA administrator Randy Babbitt told Federal News Radio that employees should be able to return to work Monday and construction projects should also resume.


The downgrading of U.S. debt to AA+ from AAA touched off a weekend of political backbiting. Democrats and Republicans blamed one another for conditions leading to the downgrade. Standard and Poor's stands by its rating despite angry criticism from Treasury Secretary Timothy Geithner, and S&P even said another downgrade is possible. Meanwhile, Geithner has agreed to stay on the job through the end of President Barack Obama's term. When Congress returns after Labor Day, it will take up federal spending for 2012. With all entitlement spending off limits, agency operational budgets will likely take all of the hits.

NYSE Announces Third-Quarter 2011 Circuit-Breaker Levels

Publishers Notes: If the market drops below certain points, they will suspend trading for a specific period of time. So if the market wont be able to get your money out. They will stop you from selling your stock!

NEW YORK, June 30, 2011 -- The New York Stock Exchange will implement new circuit-breaker collar trigger levels for third-quarter 2011 effective Friday, July 1, 2011.

Circuit-breaker points represent the thresholds at which trading is halted marketwide for single-day declines in the Dow Jones Industrial Average (DJIA). Circuit-breaker levels are set quarterly as 10, 20 and 30 percent of the DJIA average closing values of the previous month, rounded to the nearest 50 points.
In third-quarter 2011, the 10-, 20- and 30-percent decline levels, respectively, in the DJIA will be as follows:
Level 1 Halt
A 1,200-point drop in the DJIA before 2 p.m. will halt trading for one hour; for 30 minutes if between 2 p.m. and 2:30 p.m.; and have no effect if at 2:30 p.m. or later unless there is a level 2 halt.
Level 2 Halt
A 2,400-point drop in the DJIA before 1:00 p.m. will halt trading for two hours; for one hour if between 1:00 p.m. and 2:00 p.m.; and for the remainder of the day if at 2:00 p.m. or later.
Level 3 Halt
A 3,650-point drop will halt trading for the remainder of the day regardless of when the decline occurs.

Circuit-breakers are calculated quarterly. The percentage levels were first implemented in April 1998 and the point levels are adjusted on the first trading day of each quarter. In 2011, those dates are Jan. 3, April 1, July 1 and Oct. 3.


BREAKING NEWS: Obama To Make Statement

In the wake of Friday's downgrade of U.S. debt by Standard & Poor's, President Obama will deliver a statement to the press today at 1 p.m. ET.

From Fox News

Today's Survey Question

Do you think the "No Child Left Behind Act" has made the nation's public schools better or worse?

Army Makes Soldier Pay $21 C.O.D. Fee To Receive Purple Heart

A soldier who was wounded in Iraq feels the Army did him an indignity by not only waiting four years to send him his Purple Heart, but delivering it with a $21 bill to cover shipping. The soldier, who hails from South Dakota, was wounded in a rocket blast in 2007.

More »

BREAKING NEWS: S&P Expands Downgrades

Credit-rating agency Standard & Poor's downgrades mortgage giants Freddie Mac and Fannie Mae, farm lenders and 32 banks and credit unions following downgrade of U.S. debt.
From Fox News

BREAKING NEWS: Stocks Continue Selloff, Dow Down 300 Points

After stabilizing shortly after the opening bell, the selloff in stocks is gathering steam in what has already been an extremely volatile trading session.
The Dow is off 304 points, or 2.7%, at 11140. The Nasdaq Composite and S&P 500 are both off more than 3%, too, as Wall Street grapples with the ramifications of Friday night’s downgrade of the U.S.’s credit rating by Standard & Poor’s.

From Fox News


By Ben Stein

Why was President Barack Obama in such a hurry to get his socialized medicine bill passed?  Because he and his cunning circle realize some basic truths:

The American people in their unimaginable kindness and trust voted for a pig in a poke in 2008.(Pig in a poke means: an offering or deal that is foolishly accepted without being examined first.  A poke means sack.)

They wanted so much to believe Barack Obama was somehow better and different from other ultra-leftists that they simply took him on faith.

They ignored his anti-white writings in his books.

They ignored his quiet acceptance of hysterical anti-American diatribes by his minister, Jeremiah Wright.

They ignored his refusal to explain years at a time of his life as a student.

They ignored his ultra-left record as a "community organizer,"  Illinois state legislator, and Senator.

The American people ignored his total zero of an academic record as a student and teacher, his complete lack of scholarship when he was being touted as a scholar.

Now, the American people are starting to wake up to the truth.  Barack Obama is a super likeable super leftist, and not a fan of this country.

The American people have already awakened to the truth that the stimulus bill -- a great idea in theory -- was really an immense bribe to Democrat interest groups, and in no way helped all Americans.

The American people already know that Mr. Obama's plan to lower health costs while expanding coverage and bureaucracy is a myth, a promise of something that never was and never can be -- "a bureaucracy lowering costs in a free society."  Either the costs go up or the free society goes away... an historical truth.

These are perilous times.  Mrs. Hillary Clinton, our Secretary of State, has given  Iran  the go-ahead to have nuclear weapons, an unqualified betrayal of the nation.  Now, we face a devastating loss of freedom at home in health care.  It will be joined by controls on our lives to
"protect us" from global warming, itself largely a fraud, if believed to be caused by man.  She has also signed on to a Small Firearms Treaty at the U.N.  This is a back door gun control move.  This is approved by the Senate and a 2nd Amendment majority doesn't exist in the Senate now.  It will supersede all U.S. Law and the 2nd Amendment.  All citizen possession
will be eliminated through confiscation.  Just Like  Great Britain  and
Australia . 

Mr. Obama knows Americans are getting wise and will stop him if he delays at all in taking away our freedoms.  There is his urgency and our opportunity.  Once freedom is lost,  America is lost.  Wake up, beloved America  ..

Ben Stein is a writer, economist, and lawyer living in Beverly Hills and Malibu . He writes "Ben Stein's Diary" for every issue of The American Spectator.

Muslim Law Pronounced In London

A fundamentalist group is trying to enforce Muslim Shariah law in eastern parts of London and expand the enforcement to other areas, according to recent reports in British media. The Telegraph reported, on Sunday, that the group put up signs last month in the boroughs of Waltham Forest, Tower Hamlets and Newham that people were entering a “Sharia-controlled zone” where Islamic rules were enforced and gambling, alcohol and music was banned. The newspaper said police removed the posters.

The group's website said the signs were part of a fight against "the crusaders", and residents of Waltham Forest were sent veiled threats about stoning and the cutting off of hands for violation of Shariah law. The website has a place of honor for a Muslim who was charged in 2008 with helping terror after he told his followers to fight the United States in Iraq. Some Muslims have been quoted as saying, "These Muslims must seek an Islamic state. There's no place for them in Britain."


Crabbers Seek To Take Charge Of Their Future

Talks on changes in fishery yield boycott, but also hope


$1,090 Raised During ‘Deep Dish Tuesday’

Fruitland, Md. (August 8, 2011) – UNO Chicago Grill in Fruitland, Md., recently sold 545 $2 personal pan pizzas over a 12-hour period, an average of 45 pizzas per hour, with all proceeds, $1,090, benefiting the Lower Shore Special Olympics. The non-profit also collected donations in a jar in the lobby.
From left: Julie Stewart, UNO Marketing Coordinator; , President Rommel Holdings,  Mike Cottingham; Mindy Bankert, fundraiser coordinator with Special Olympics Lower Shore and Joe Rosales general manager of UNO Chicago Grill .

BREAKING NEWS: U.S. Stocks Plunge In Wake Of S&P Downgrade

U.S. stocks plunged at the open Monday morning, trading for the first time since Standard & Poor’s lowered the credit rating of the U.S. The Dow Jones Industrial Average is down  225 points at 11214, the Nasdaq Composite dropped 83 to 2448 and the S&P 500 index shed 24 to 1175. Gold and silver were higher, oil was lower and Treasury prices rose.

From Fox News

Candidates Would Spend More On Schools

Back more money for construction, students

Taikira White chose City College for its nationally renowned choir, but her quests to find a fully functional bathroom in the school could make her a track star by the time she graduates.

Last school year, she found herself running up and down the hallways and staircases of the sprawling building, racing her classmates and the clock to find a toilet that would flush and a sink to wash her hands. Rarely were both an option.


S&P Downgrades US Credit Rating to AA-Plus

The United States lost its top-notch triple-A credit rating from Standard & Poor's Friday, in a dramatic reversal of fortune for the world's largest economy. ... This came after a confusing day of reports: Standard & Poor's told the U.S. government early Friday afternoon that it was preparing to downgrade the U.S.'s triple-A credit rating but U.S. officials notified S&P that it had made a $2 trillion mathematical error. The error was in the calculation of the U.S. debt-to-GDP ratio over time and was based on a misreading of what the correct congressional baseline was, government sources indicated. They said that once informed of the error S&P revised its rate-cut rationale to emphasize the political aspects of the country's debt situation. "A judgment flawed by a $2 trillion error speaks for itself," a Treasury spokesperson said. – CNBC

Dominant Social Theme: You cannot trust the private sector with this sort of thing... the State knows better.

Free-Market Analysis: We have been suggesting for quite a long time now, perhaps ten years or more, in various books, editorials and publications, that the US monetary and political system was in serious trouble and would eventually face a severe "reality check." Today, we see the headwinds of reality crashing into the structural edifices that have been erected as a means of population control and economic enslavement. The US dollar is a license to steal, one that has been granted via legal tender laws, and the heist has now been revealed to millions during this dawning era of what we call, the Internet Reformation. The US political establishment – in this case the Treasury Dept. – can criticize S&P's downgrade all they like, but the truth of the matter is that the US is broke and soaked in a sea of unsustainable debt. To whine about a $2 trillion "error" – that isn't really an error at all, considering the Treasury Dept. is disputing S&P's misuse of "congressional baseline" numbers that somehow accurately forecasts the "U.S. debt-to-GDP ratio over time" – is nothing short of laughable. Suffice to say, why should anyone, including S&P base any of their numbers on congressional baseline numbers when all the government does is tell one lie after another? Does anyone with any semblance of understanding of the fiat-money system really believe that the "wise leaders" acting/running the US are going to master the great ship's rudder and pull off a last minute "miracle-manouver," thus avoiding the treacherous shoals it is destined to crash into? We think Hurricane Reality is about to teach the "Captains of Fantasy" and their believers a severe lesson. Now S&P cannot come out and say that, but we can.


BREAKING NEWS: Dow Down More Than 200 Points

Dow Jones Industrial Average opens down more than 200 points after S&P downgrade of America's debt.

From Fox News

1 Dead In Ocean City Boating Accident

In Ocean City, an unidentified man drowned Saturday night when he fell off a pontoon boat. Officials say this is the 16th boating death in Maryland so far this year.

Facebook Can Turn Kids Into Narcissists

Facebook can turn kids into narcissists and lead to health complications, a California psychologist said in Washington.

Larry Rosen, a psychologist at Cal State Dominguez Hills, presented a conference paper on the potential harm the hugely popular social networking site can have on children, the Los Angeles Times reported.

Rosen, who has been studying the effects of technology on people for more than two decades, said that teens who use technologies, like video games and the internet, were more likely to have stomachaches, sleeping problems, anxiety and depression.


Perdue Show Off Solar Project At Delaware Feed Mill

BRIDGEVILLE, Del. (AP) -- Poultry producer Perdue Farms is showing off a new solar energy project that will help power its feed mill in Bridgeville.

U.S. Sens. Tom Carper and Chris Coons were among the visitors expected Monday at the company's solar project open house.

The project involves thousands of solar panels covering an area roughly the size of five football fields and generating enough electricity to power more than 175 typical U.S. homes. It's a collaboration between Perdue, Standard Solar and Washington Gas Energy Services.


BREAKING NEWS: Stock Futures Tumbling

The selling in stock-index futures is picking up as the start of the trading session approaches. Dow futures are off 280 points, Nasdaq futures shed 55 points and futures on the S&P 500 are down 32 points. Gold is soaring and Treasury prices are rallying.

From Fox News

U.S. Debt Crisis: Deal Wasn't Enough

Steep drop in world market openings following S&P's U.S. credit downgrade sends message to lawmakers and investors that debt deal in Congress was not enough to avert potential U.S. economic turmoil.

Victim Of Dover Assault Dies

Victim: Lamont D. Harris, Sr., 59, Dover, DE
Dover- The victim of the serious assault that occurred on Tuesday, August 2, 2011 in the Rodney Village Apartments in Dover has died from his injuries. Lamont D. Harris, Sr, was pronounced dead at the Christiana Hospital on Friday, August 5.  As a result, detectives have now obtained a warrant charging the suspect, Deshaun J. Harris, with 2nd Degree Murder.
As of this date, Deshaun Harris has not been apprehended and detectives are seeking the public’s help in locating him.
There is no known relationship between the victim and the suspect.

Teachers Union Rejects Pension Commission Proposals

The state teachers union is rejecting most of the final recommendations of the special pension commission, particularly its proposal to shift half the funding of pensions onto county school boards or governments. In a strong letter to the governor and legislative leaders, the union also wants county governments to be forced to fully fund school budgets and to give them authority to raise more taxes or disregard local tax caps.

Continue Reading...

BREAKING NEWS: Stock Futures, Global Shares Sink After Downgrade

U.S. stock futures followed global shares sharply lower on Monday morning, extending the worst weekly rout since 2008, on the heels of Standard & Poor's downgrade of America’s credit rating. With an hour before the opening bell, Dow Jones Industrial Average futures tumbled 204 points, or 1.8%, to 11,197.

From Fox News

Postal Service: Out Of Cash Next Month

The Postal Service reported Friday it lost $3.1 billion in the third quarter of the fiscal year. With no end to the financial bleeding in sight, postal officials said they would default on payments to the federal government due next month.
"Our ongoing financial situation has reached the point of becoming a real, now cash crisis," said Lou Giuliano, the chairman of the Board of Governors at Friday's board meeting. "As things stand today, the Postal Service will not have adequate cash to meet all of our financial obligations by the end of the fiscal year, Sept. 30."


O'Malley: US Credit Rating Downgrade Unjustified

BALTIMORE (AP) - Maryland Gov. Martin O'Malley says the downgrade of the U.S. credit rating was not justified.

The Democrat discussed the issue Sunday morning on ABC's "This Week." O'Malley called the downgrade a mistake, but he says the decision by the Standard & Poor's credit agency was understandable.

He says officials have been unable to come together on what he called "the most important issue facing our country," which is job creation.


Oil Dives Under $85

Oil prices dived below $85 a barrel Monday in Asia after Standard & Poor's lowered the U.S. credit rating.

SINGAPORE (AP) - Oil prices dived below $85 a barrel Monday in Asia after Standard & Poor's lowered the U.S. credit rating _ a blow to confidence that could hurt economic growth and demand for crude.

Benchmark oil for September delivery was down $2.07 to $84.81 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude rose 25 cents to settle at $86.88 on Friday.

In London, Brent crude was down $2.38 at $107.01 per barrel on the ICE Futures exchange.


US Pharmaceutical Companies Testing Drugs On India’s Poor

U.S. pharmaceutical companies have moved their operations overseas in the past decade, testing their drugs on poor people in such lands as Russia, China, Brazil and Romania. It is a $30 billion business, and today around 105 countries are allowing such large corporations as Merck and AstraZeneca to conduct clinical trials on their soil.

One country that has experienced a boom like no other in this industry is India, with its widely spoken English, an established medical infrastructure and welcoming attitudes towards foreign industry. Most importantly, these pharmaceutical companies are exploiting the country’s vast number of illiterate and poor people who are willing to become guinea pigs.

Congress Has Chance to Pass Bills That Would Create Jobs

When Congress gets back to work after Labor Day it will have the chance to achieve something that has largely eluded it for the entire year, passing legislation that might actually create jobs.

With the battering debate over the debt ceiling over, the stage is set for Congress to approve and President Barack Obama to sign three big free-trade agreements and the most significant overhaul of the patent system in 60 years.


45,000 Verizon Workers Go On Strike Over Contract

Tens of thousands of unionized Verizon Communications Inc. workers from Massachusetts to Washington, D.C., went on strike early Sunday after they failed to agree on a new labor contract with the telecommunications company.

The Communications Workers of America said negotiations in Philadelphia and New York stalled Saturday night after Verizon continued to demand more than 100 concessions from workers and the unions refused to budge.


Religious Groups Fear Health Law's Birth Control Loophole Too Narrow

They defied the bishops to support President Obama's health care overhaul. Now Catholic hospitals are dismayed the law may force them to cover birth control free of charge to their employees.


A provision in the law expanded preventive health-care benefits for women, and the administration said last week that must include birth control with no copays. The Catholic Health Association says a proposed conscience exemption is so narrowly written it would apply only to houses of worship. Some other religious-based organizations agree.

Fly Your Banner at the Wicomico Farm & Home Show

Word Of The Day 08/08/11


Meaning-What we do with dirty clothes.

Today's Weather- 08/08/11




Overnight Low