It seems there are a few who feel Trayvon Martin was just an innocent victim. Let’s look at the evidence and facts that were presented at the trial.
George Zimmerman saw a person he believed didn’t belong in the area. Fact: There had been a large number of break-ins in the area. Fact: Trayvon Martin was walking home after going to the store, which is not illegal. Zimmerman did follow Martin, which is not illegal.
Fact: Zimmerman lost sight of Martin and started walking back to his car. On the way back to his car Zimmerman was confronted by Martin. Evidence shown in court showed that Martin struck Zimmerman in his face causing his nose to bleed. This is a crime of assault. Zimmerman fell to the ground and Martin jumped on top of him, hitting him and pounding his head on the sidewalk. Again this evidence was show in court and is a crime. Zimmerman had committed no crime to this point.
Sometime during this fight Zimmerman felt that his life was threatened enough that he could die. Example of this is the referee who was punched in the side of his head by a player and died two days later. Zimmerman took his handgun out, which he had a legal right to have, and shot Martin, who died from that wound. Evidence showed that Martin was on top of Zimmerman at the time he was shot. This is a tragedy but under our laws you have a right to defend yourself against great bodily harm.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Monday, July 22, 2013
IT’S ONLY THE BEGINNING
The MSM is blowing off the bankruptcy of Detroit (surprise, surprise). Any talk of Detroit is swept under the run, it’s a “one off”.
The only problem, of course, is it’s just the beginning. Cities, towns, entire states (like Illinois), even the Federal government is bankrupt. They’re all being kept alive by issuing debt. More debt (bonds), onto already massive piles of debt. None of it can ever be paid back. Public/private debt is more than $54 trillion.
In case you missed this article. Many big American cities are heading for a fall. Nobody wants to live in these cities any longer, but not everybody can move away from the crime. Most have been run by democrats for decades, and the same cycle that brought down Detroit will bring them all down sooner or later. Eventually they run out of other people’s money. Socialism simply doesn’t work, never has and never will.
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The only problem, of course, is it’s just the beginning. Cities, towns, entire states (like Illinois), even the Federal government is bankrupt. They’re all being kept alive by issuing debt. More debt (bonds), onto already massive piles of debt. None of it can ever be paid back. Public/private debt is more than $54 trillion.
In case you missed this article. Many big American cities are heading for a fall. Nobody wants to live in these cities any longer, but not everybody can move away from the crime. Most have been run by democrats for decades, and the same cycle that brought down Detroit will bring them all down sooner or later. Eventually they run out of other people’s money. Socialism simply doesn’t work, never has and never will.
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A Message From Dan Bongino
This administration is sadly using the tragic events in Florida in a coordinated effort to ensure continued division, rather than the desperately needed sense of unity. The 2014 election cycle headwinds are blowing strongly against the administration's policies on the economic, healthcare & education fronts, & they are eager to change the conversation. Although every administration plays politics, this one has taken politics, & the building of "Division-Capital", to the extreme in the absence of any political capital, which has been squandered on the failure of Obamacare & the continued economic malaise. The recent statement by HHS Secretary Sebelius, comparing the growing opposition to Obamacare to the fight against "lynching", is despicable, deserves bi-partisan condemnation & is further evidence of this disturbing strategy.
I had a front-row seat to this "Bubble" & extend these words to you because the sowing of division capital is very real & it is extremely damaging. Insiders consistently reach out & say to me that they feel as if they no longer work for the government but for the administration's political efforts.
This shell game being played by the administration is profoundly shameful because it makes no effort to diagnose the problem but attempts to misdirect your attention from it. Racism is a very real problem, that much is undeniable, but real efforts to bridge the divide between communities are ignored because they may not result in the administration's desired political outcomes. Every calculated sound bite & inflammatory statement is designed to ensure Americans identify with being part of a group, which they define for you, rather than being part of OUR America. The reason is simple. When you identify with a group first, they will inevitably define for you the ways in which that group is under attack, which forces you into a psychological silo of defensiveness. They have used this method of attack to consistently divide a nation desperate to be unified.
We can starve racism to a painful death by employing common-sense solutions that defy the administration's misleading narrative. We can make illegal employment discrimination economically debilitating to the fools who engage in it by enabling parent-choice in education & ensuring that the next generation of doctors, lawyers, scientists & engineers are densely populated with minority representation. We can propose healthcare reforms which empower individuals & not bureaucrats, intent on condemning our lower income minority communities to sub-standard government clinics, & we can move to repeal economic policies which have destroyed opportunities for our minority entrepreneurs such as the Davis-Bacon Act.
I am sorry to have to write this but I cannot stand idle while the sowing of conflict & division overtakes a very necessary national conversation about the immoral disparities in America that need not be. We are one America, not a series of individual Americas. Our strength is in what we share in common, not what divides us. The only path forward is unity & the courage to stand against & expose the politics of division.
No Child Left Behind?
House Republicans want to do away with a signature Education Department program. On a party line vote, they passed a bill to dismantle the troubled No Child Left Behind law. The legislation would eliminate federally required student testing. The Obama administration immediately issued a veto threat. An alternative Senate plan would give local school districts more flexibility, but keep the federal government as the arbiter of what's a good school improvement plan. No Child Left Behind was enacted in 2001 by a bipartisan coalition.
HUD's New 'Fair Housing' Rule Establishes Diversity Data for Every Neighborhood in U.S.
The goal is to help communities understand "fair housing barriers" and "establish clear goals" for "improving integrated living patterns and overcoming historic patterns of segregation."
“This proposed rule represents a 21st century approach to fair housing, a step forward to ensuring that every American is able to choose to live in a community they feel proud of – where they have a fair shot at reaching their full potential in life,” said HUD Secretary Shaun Donovan.
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Ban Goldman Sachs From Playing In Commodity Markets
Federal Reserve Review
On Friday Reuters reported that the Federal Reserve is going to review the 2003 decision that allowed regulated banks to trade in physical commodity markets: “The one-sentence statement suggests the Fed is taking a much deeper, wide-ranging look at how banks operate in commodity markets than previously believed, amid intensifying scrutiny of everything from electricity trading to metals warehouses.” Reuters goes on to say, “While the Fed has been debating for years whether to allow banks including Morgan Stanley (MS.N) and JPMorgan (JPM.N) to continue owning assets like oil storage tanks or power plants, Friday's surprise statement suggests it is also reconsidering whether all bank holding firms should be able to trade raw materials such as gasoline tankers and coffee beans.”
Big Banks & Unintended Consequences of Fed Policy
The Fed is finally getting that the Big Banks are canceling out any intended good that may accrue to wealth creation by pushing up stock prices, if at the same time these same financial institutions also push up commodities like oil, gasoline, copper, heating oil, wheat, corn, and soybeans with the same cheap QE stimulus money.
The fed is trying to weed out some of the unintended consequences of their QE stimulus program. Because on one hand they are trying to stimulate the “Wealth Effect” with higher stock prices, but these bankers have so much cheap capital available to them, and with the fed mandate to boost asset prices, they cannot help but juice up commodities at the same time.
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On Friday Reuters reported that the Federal Reserve is going to review the 2003 decision that allowed regulated banks to trade in physical commodity markets: “The one-sentence statement suggests the Fed is taking a much deeper, wide-ranging look at how banks operate in commodity markets than previously believed, amid intensifying scrutiny of everything from electricity trading to metals warehouses.” Reuters goes on to say, “While the Fed has been debating for years whether to allow banks including Morgan Stanley (MS.N) and JPMorgan (JPM.N) to continue owning assets like oil storage tanks or power plants, Friday's surprise statement suggests it is also reconsidering whether all bank holding firms should be able to trade raw materials such as gasoline tankers and coffee beans.”
Big Banks & Unintended Consequences of Fed Policy
The Fed is finally getting that the Big Banks are canceling out any intended good that may accrue to wealth creation by pushing up stock prices, if at the same time these same financial institutions also push up commodities like oil, gasoline, copper, heating oil, wheat, corn, and soybeans with the same cheap QE stimulus money.
The fed is trying to weed out some of the unintended consequences of their QE stimulus program. Because on one hand they are trying to stimulate the “Wealth Effect” with higher stock prices, but these bankers have so much cheap capital available to them, and with the fed mandate to boost asset prices, they cannot help but juice up commodities at the same time.
More
Aged Dog Who Gained Fame For Tender Photo With Owner Dies
Schoep gained national attention after a photo of him and his owner in Lake Superior went viral. He was 20 years old.
A message posted on the Schoep and John Facebook page said simply, "I breathe but I can't catch my breath ... Schoep passed yesterday, more information in the days ahead."
Schoep was a lovable shepherd mix, who lost his sight to cataracts and struggled with arthritis and hip problems.
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3 Psychological Factors That Can Trigger Male Suicide
Recently I received a review copy of the book, Lonely at the Top: The High Cost of Men’s Success by Thomas Joiner, Ph.D. I was happy to offer a review.
Dr. Joiner is one of the world’s leading experts on suicide and has published two previous books, Myths about Suicide (Harvard University Press 2010) and Why People Die by Suicide (Harvard University Press 2005).
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Dr. Joiner is one of the world’s leading experts on suicide and has published two previous books, Myths about Suicide (Harvard University Press 2010) and Why People Die by Suicide (Harvard University Press 2005).
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MAN UPLOADS WIFE’S EXPLOSIVE TEMPER TANTRUM ON YOUTUBE (ONE OF THEM HAS REPORTEDLY MOVED OUT AND FILED A RESTRAINING ORDER)
(Warning! Video has very strong language)
A man’s wife threw an absolute temper tantrum when her husband wouldn’t take her to the lake on a Saturday. She didn’t realize he was video recording the entire fit and planned to upload it on YouTube.The man in the video, Jim, apparently had already planned to do household chores and car maintenance on this particular Saturday. He says this is the way his wife regularly acts when “she does not get her way.”
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It May Not Quite Be 'Super,' But July's Full Moon Is A Stunner
By most definitions, the full moon on Monday is not considered a "supermoon" — the full moon that occurs each year when the moon is closest to Earth — although the moon is still quite close to the planet. This year's supermoon fell in June, but the two full moons in the months which flank a supermoon are almost supermoons as well.
A full moon shined on May 25, at 12:25 a.m. ET at a distance of 223,327 miles (359,410 kilometers), only 1,503 miles (2,419 kilometers) farther away than the supermoon of June 23.
Monday's full moon will occur at 2:16 p.m. ET, so Americans will not get to see the exact moment it's full. Technically, folks in the eastern half of the country didn't see last month's supermoon at its peak because it set just before it was exactly full.
At moonrise around 8:17 p.m. ET on Monday (about six hours past full), the moon will be only 223,258 miles (359,299 kilometers) away — or 1,434 miles (2,308 kilometers) farther than the supermoon at its closest distance. More
Doctor Diagnoses Female Patient With A Painful Case Of 'Ghetto Booty': Complaint
JACKSON, Tenn. – A woman in Tennessee filed a complaint with the Tennessee Department of Health after she said a doctor told her that her back pain was caused by her ‘ghetto booty.’
“I think I blacked out after he said ‘ghetto booty.’ I think my mind was just stuck on the phrase because I couldn’t believe he said that,” Terry Ragland, 55, said.
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“I think I blacked out after he said ‘ghetto booty.’ I think my mind was just stuck on the phrase because I couldn’t believe he said that,” Terry Ragland, 55, said.
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Zimmerman Speech Obama Should Have Give
I am your humble servant. You have entrusted me with the tremendous honor and responsibility to serve you as president. I am not president of black America, Hispanic America or white America. I am not president of liberal America or conservative America. I am president of the United States of America.
Regrettably, as a nation, we have become divided. I confess that I have contributed to this division. For this failure in leadership, I ask your forgiveness.
We were each created equal by a God of forgiveness. It is now time that we do as He commands; that we forgive one another as we are forgiven and that we come together, once and for all, as one America.
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Gasoline Supplies Highest For July Period Since 1992
Refiners actually try to keep low inventories to have illusion of ‘tighter’ markets
Gasoline supplies had a substantial build in inventories, up 3.1 million barrels, and looking back at the EIA data, July is in the heart of the summer driving season, and refineries run at their highest utilization rates. Well, there has never been a period in July where inventories are as high in gasoline supplies as currently exists in recent energy statistics. We have to go all the back to 1992 to find supplies for the July period higher than they are right now, and it isn`t by much.
Oil Market Propaganda
It is funny all the propaganda that consumers get fed as to why they pay so much at the pump, it is all total hogwash. The oil market is one of the most rigged markets that actually have fundamental uses for the product. Stocks are rigged in many ways, earning`s reports are gamed via stock buybacks to beat on the EPS, but these companies are really missing bad if you look at the revenue misses. Mind you, revenue targets are set so low that these companies cannot possibly miss, yet companies have been missing consistently for the past couple of years.
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Gasoline supplies had a substantial build in inventories, up 3.1 million barrels, and looking back at the EIA data, July is in the heart of the summer driving season, and refineries run at their highest utilization rates. Well, there has never been a period in July where inventories are as high in gasoline supplies as currently exists in recent energy statistics. We have to go all the back to 1992 to find supplies for the July period higher than they are right now, and it isn`t by much.
Oil Market Propaganda
It is funny all the propaganda that consumers get fed as to why they pay so much at the pump, it is all total hogwash. The oil market is one of the most rigged markets that actually have fundamental uses for the product. Stocks are rigged in many ways, earning`s reports are gamed via stock buybacks to beat on the EPS, but these companies are really missing bad if you look at the revenue misses. Mind you, revenue targets are set so low that these companies cannot possibly miss, yet companies have been missing consistently for the past couple of years.
More
Actor Dennis Farina Dies at 69
Farina, who starred as characters on both sides of the law, was perhaps most memorable as short-fused Miami gangster Ray “Bones” Barboni in BarrySonnenfeld’s sharp comedy crime thriller Get Shorty (1995).
He won an American Comedy Award for the role and shared a SAG nomination for outstanding performance by a cast with John Travolta, Gene Hackman, Rene Russo, Danny DeVito, et al.
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Calvert Cliffs Nuclear Plant At Risk For ‘Early Retirement,’ Report Says
The lone commercial nuclear power plant in Maryland might be on its way to early retirement for primarily economic reasons, the report’s author said. No dates were given for any reactors on the list and the author insists he’s not making predictions.
A spokeswoman for Constellation Energy Nuclear Group, the owner of Calvert Cliffs, said in response to the report that there are no plans to retire the plant early. The company brags on its website that the plant got a 20-year extension of its license in 2000 after replacing the steam generators.
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Man Found Not Guilty In Shooting Of Unarmed Teenager In Greece NY
Dateline: December 18th 2009. A jury found Roderick Scott not guilty in the shooting death of Christopher Cervini in April of 2008.
Scott testified that he acted in self defense when Cervini allegedly charged at him saying that he was going to get Scott. Cervini, who was unarmed, was shot twice. He was 16 years and four months old when he died of his wounds.
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The jury deliberated for two days and asked for some court testimony to be read back before rendering the not guilty verdict.
The incident began when Scott confronted Cervini and two other teens stealing items from a neighbor’s car. Scott approached the teens with his gun drawn and ordered them to freeze and wait for the police to arrive.
The incident began when Scott confronted Cervini and two other teens stealing items from a neighbor’s car. Scott approached the teens with his gun drawn and ordered them to freeze and wait for the police to arrive.
Scott testified that he acted in self defense when Cervini allegedly charged at him saying that he was going to get Scott. Cervini, who was unarmed, was shot twice. He was 16 years and four months old when he died of his wounds.
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Maritime Museum's Admission Lowered To $5 During Town's Bicentennial
“We wanted to give back to the community on the anniversary that brought about the legend of the Town that Fooled the British,” said CBMM Vice President of Constituent Services René Stevenson. “The museum has deep roots in the St. Michaels community – through its founders, volunteers, members, and visitors. We hope the discounted rates will bring more of our community out to experience the event and our campus.”
The $5 admission is good from 9am to 6pm on August 10, and available for all visitors ages six and up, with CBMM members and kids under six admitted for free. Admission gives access to CBMM’s 18-acre waterfront campus and 12 exhibit buildings, as well as the skipjack Rosie Parks restoration and CBMM’s newest exhibit, “Navigating Freedom: The War of 1812 on the Chesapeake” in the Steamboat building.
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Prescription Drugs Now Kill More People In The US Than Heroin And Cocaine Combined
Prescription opioid painkillers are responsible for more fatal overdoses in the U.S. than heroin and cocaine combined, according to the Center for Disease Control (CDC).
Opioid painkillers include prescription narcotics such as like Vicodin (hydrocodone), OxyContin (oxycodone), Opana (oxymorphone) and methodone.
"An epidemic of prescription drug abuse is devastating American families and draining state and federal time, money and manpower," Rep. Hal Rogers (R-Ky.), chairman of the House Appropriations Committee, said in a press release.
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Opioid painkillers include prescription narcotics such as like Vicodin (hydrocodone), OxyContin (oxycodone), Opana (oxymorphone) and methodone.
"An epidemic of prescription drug abuse is devastating American families and draining state and federal time, money and manpower," Rep. Hal Rogers (R-Ky.), chairman of the House Appropriations Committee, said in a press release.
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Smithsonian Institute Honors Eastern Shore Historian Of African-American Family
FEDERALSBURG, Md. — If you are looking for history about Federalsburg and Caroline County, a new place to look is the Smithsonian Institute as the National Museum of African-American History and Culture recently accepted a book by local historian Irma Harper.
Harper, 89, of Federalsburg, began documenting local history 72 years ago by going through land records. The culmination of her life’s work came when the Smithsonian Institute accepted her book “Here Lies Sarah Phillips.” This book contains the history and genealogy of seven generations of the Phillips Family, a black and mulatto family in Caroline County, dating back from the early 1700s to today. Sarah Phillips was the mother of a son who fought in the Revolutionary War and had two grandsons who fought in the Civil War.
“I’m very proud the Smithsonian Institute wanted my book about the Phillips family,” Harper said. “I’m glad to have this happen because I enjoy learning about people and their heritage.”
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Harper, 89, of Federalsburg, began documenting local history 72 years ago by going through land records. The culmination of her life’s work came when the Smithsonian Institute accepted her book “Here Lies Sarah Phillips.” This book contains the history and genealogy of seven generations of the Phillips Family, a black and mulatto family in Caroline County, dating back from the early 1700s to today. Sarah Phillips was the mother of a son who fought in the Revolutionary War and had two grandsons who fought in the Civil War.
“I’m very proud the Smithsonian Institute wanted my book about the Phillips family,” Harper said. “I’m glad to have this happen because I enjoy learning about people and their heritage.”
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EVERYTHING IS FINE
Don’t you think we should bail out Detroit with our children’s tax dollars? I’m sure it would be a good investment. Like buying a house in Las Vegas in 2005 with a negative amortization subprime no-doc loan. Like buying a MBS from Goldman Sachs in June 2008. Like buying a 10 year Treasury bond yielding 1.35%. Like buying an S&P 500 Index fund in October 2007. Like buying Pets.com at $50 per share in 2000. All is well. Everything is fine. The future is bright. It’s the best time to buy. Everything is undervalued.
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Police Recount Accident That Plunged Maryland Woman’s Car Off Chesapeake Bay Bridge
But then the tractor-trailer bumped the red 2007 Chrysler Sebring again, this time sending it up onto the top of the barrier and then over it into the bay waters below, according to a transportation authority police officer.
It was “sink or swim right there,” said the officer, who spoke on the condition of anonymity because the crash is still under investigation.
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MSNBC Panel Agrees: Small Government Led To Detroit’s Bankruptcy
Melissa Harris-Perry, appearing as a panel guest Friday on MSNBC’s “Now,” charged that Detroit’s filing for bankruptcy last week was due to small-government policies “many Republicans would impose on us.”
Former Vermont Gov. Howard Dean first suggested that Detroit can make a viable comeback.
“When you have a median home price of $45,000, people are going to go buy those houses sooner or later,” he said, “but you’ve got to have a government to run the place.”
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Former Vermont Gov. Howard Dean first suggested that Detroit can make a viable comeback.
“When you have a median home price of $45,000, people are going to go buy those houses sooner or later,” he said, “but you’ve got to have a government to run the place.”
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Unemployment Doubles Under O'Malley
Governor Martin O'Malley issued another self congratulatory and blatantly false statement n a press released issued Friday saying: "As a state we've now recovered more than 99% of the jobs lost in the national economic downturn - a significant step forward in our job creation and recovery effort."
As he travels around the country, he continually touts his success at job growth and "driving down unemployment."There's just one problem, it's just not true. The irrefutable facts show the actual situation to be completely the opposite of his false claims.
When Martin O'Malley became Governor in January 2007 the unemployment rate was 3.6%, on the very day of O'Malley's latest outrageous claim, unemployment rose to 7%. So rather than driving unemployment down, as he claims, unemployment has, in fact, nearly doubled under the O'Malley Administration.
When O'Malley took the reins of state government in January 2007 there were 108,096 people unemployed in Maryland, today after nearly seven years of his leadership, there are now 218,741 people unemployed. That is an increase of 110,645 additional people unemployed and represents an increase in unemployment of more than 100%.
"This is a tragedy, these aren't just terrible numbers, these are real people, fathers and mothers struggling to make ends meet, to keep a roof over their head, put clothes on their kids back and food on the table," said Change Maryland Chairman Larry Hogan.
Hogan, a successful businessman, who has brought hundreds of companies and thousands of jobs to Maryland said, "Sometimes politicians think that if they repeat something enough times people will eventually believe it. Governor O'Malley is pretty good at weaving magical tales with no basis in reality. But, no amount false spin can change the cold hard fact that no other Governor in Maryland history has ever lost as many jobs as Martin O'Malley has."
Change Maryland hosted an Summit on Improving Maryland's Economic Competitiveness looking for solutions to the State's serious economic problems, and has produced numerous economic studies and reports showing that the 40 consecutive O'Malley tax hikes have caused us to lose more than 6,500 businesses including 10 of our 13 Fortune 500 companies, and have caused a mass exodus of taxpayers fleeing the state in record numbers.
"The time for results is long overdue. There are no more excuses left for the O'Malley Administration? After nearly seven years of failed economic policy, there is no one to blame but themselves. We need Democrats, Republicans and Independents to put aside partisanship and work together on the shared goal of increasing employment is Maryland. The need for a real change in direction for Maryland has never been more clear," said Hogan, a former State Cabinet Secretary.
As he travels around the country, he continually touts his success at job growth and "driving down unemployment."There's just one problem, it's just not true. The irrefutable facts show the actual situation to be completely the opposite of his false claims.
When Martin O'Malley became Governor in January 2007 the unemployment rate was 3.6%, on the very day of O'Malley's latest outrageous claim, unemployment rose to 7%. So rather than driving unemployment down, as he claims, unemployment has, in fact, nearly doubled under the O'Malley Administration.
When O'Malley took the reins of state government in January 2007 there were 108,096 people unemployed in Maryland, today after nearly seven years of his leadership, there are now 218,741 people unemployed. That is an increase of 110,645 additional people unemployed and represents an increase in unemployment of more than 100%.
"This is a tragedy, these aren't just terrible numbers, these are real people, fathers and mothers struggling to make ends meet, to keep a roof over their head, put clothes on their kids back and food on the table," said Change Maryland Chairman Larry Hogan.
Hogan, a successful businessman, who has brought hundreds of companies and thousands of jobs to Maryland said, "Sometimes politicians think that if they repeat something enough times people will eventually believe it. Governor O'Malley is pretty good at weaving magical tales with no basis in reality. But, no amount false spin can change the cold hard fact that no other Governor in Maryland history has ever lost as many jobs as Martin O'Malley has."
Change Maryland hosted an Summit on Improving Maryland's Economic Competitiveness looking for solutions to the State's serious economic problems, and has produced numerous economic studies and reports showing that the 40 consecutive O'Malley tax hikes have caused us to lose more than 6,500 businesses including 10 of our 13 Fortune 500 companies, and have caused a mass exodus of taxpayers fleeing the state in record numbers.
"The time for results is long overdue. There are no more excuses left for the O'Malley Administration? After nearly seven years of failed economic policy, there is no one to blame but themselves. We need Democrats, Republicans and Independents to put aside partisanship and work together on the shared goal of increasing employment is Maryland. The need for a real change in direction for Maryland has never been more clear," said Hogan, a former State Cabinet Secretary.
Economic Warfare Super Panel - William Scott
BIN LADENS JOURNALS CONFIRMED ARSON INTENT OF ALQUAIDA
This is very interesting and worth the time to hear.
FIRE WARFARE - This is major crime running unchecked.
This is why they waited so long to tell us what started the Waldo Canyon fire in Colorado. The public still has not been told what was used to start the fire. Worth the time to watch.
Art Cashin On 100 Years Of Fed Trial And Error And Error And Error
Yesterday, we alluded to trading floor buzz about a research paper by Julio Rotemberg, titled "Penitence after accusations of error: 100 Years of Monetary Policy at the U.S. Federal Reserve". We noted it was one of a series of papers presented at an NBER symposium on “The First Hundred Years of the Federal Reserve: The Policy Record, Lessons Learned, and Prospects for the Future”.
While Mr. Rotemberg's opus is primarily directed at academics, it does provide insights about how the Fed stumbled through the evolution of central banking in the U.S.
One of its earliest concerns after its founding was to prevent inflation from exploding after World War I as many had expected. Other than that it saw its purpose as aiding only solid normal growth in the economy. As Rotemberg notes "The Tenth Annual Report of the Federal Reserve Board said that the Fed was supposed to extend credit only for “productive” and not for “speculative” purposes."
Ironically, less than a year later, the Fed noticed that some loans were being diverted to "securities purchases". (Egad! Speculation.) So, in 1925, they began to tighten. The economy slowed a bit but nothing painful. So far, so good. By 1927, the aptly named Benjamin Strong (New York Fed President) successfully pressed for a policy of ease. It was widely assumed that Strong had hoped to create a climate to assist Britain and its struggles with the gold standard. The regional presidents rebelled, sensing some of the new money was moving into the stock market and other speculations. Strong then strong-armed them, however, and thus the New York Fed became the key voice in the system.
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While Mr. Rotemberg's opus is primarily directed at academics, it does provide insights about how the Fed stumbled through the evolution of central banking in the U.S.
One of its earliest concerns after its founding was to prevent inflation from exploding after World War I as many had expected. Other than that it saw its purpose as aiding only solid normal growth in the economy. As Rotemberg notes "The Tenth Annual Report of the Federal Reserve Board said that the Fed was supposed to extend credit only for “productive” and not for “speculative” purposes."
Ironically, less than a year later, the Fed noticed that some loans were being diverted to "securities purchases". (Egad! Speculation.) So, in 1925, they began to tighten. The economy slowed a bit but nothing painful. So far, so good. By 1927, the aptly named Benjamin Strong (New York Fed President) successfully pressed for a policy of ease. It was widely assumed that Strong had hoped to create a climate to assist Britain and its struggles with the gold standard. The regional presidents rebelled, sensing some of the new money was moving into the stock market and other speculations. Strong then strong-armed them, however, and thus the New York Fed became the key voice in the system.
More
GOVERNOR O’MALLEY TO VISIT ATK SPACE SYSTEMS DIVISION
Will highlight job creation and role of aerospace industry in Maryland's growing innovation economy
ANNAPOLIS, MD (July, 22, 2013) — Today, July 22, Governor Martin O’Malley will visit ATK Space Systems Division to highlight Maryland’s aerospace industry as integral to the state’s growing innovation economy. Maryland is home to 15 of America’s top 20 aerospace companies and 70 of the country’s top 100 defense contractors. These sectors support more than 140,000 direct jobs in Maryland.
A global aerospace, defense and commercial products company, ATK joined Governor O’Malley at the 50th International Paris Air Show in an effort to help Maryland businesses market themselves to international customers and promote the State of Maryland to businesses abroad in an ever-changing 21st century global economy.
ANNAPOLIS, MD (July, 22, 2013) — Today, July 22, Governor Martin O’Malley will visit ATK Space Systems Division to highlight Maryland’s aerospace industry as integral to the state’s growing innovation economy. Maryland is home to 15 of America’s top 20 aerospace companies and 70 of the country’s top 100 defense contractors. These sectors support more than 140,000 direct jobs in Maryland.
A global aerospace, defense and commercial products company, ATK joined Governor O’Malley at the 50th International Paris Air Show in an effort to help Maryland businesses market themselves to international customers and promote the State of Maryland to businesses abroad in an ever-changing 21st century global economy.
N.Y. Food Stamp Recipients Shipping Groceries Overseas: Report
Shipping food abroad is so common that hundreds of 45- to 55-gallon barrels line the walls of markets in almost every Caribbean area of New York City. Customers pay about $40 in cash for the barrels and typically ship them with $500 to $2,000 of rice, beans, pasta, canned milk and sausages, The Post reported.
“Everybody does it,” a worker at an Associated Supermarket in the borough of Brooklyn told The Post. “They pay for it any way they can. A lot of people pay with EBT,” or electronic benefit transfers, which replaced paper food stamps.
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Economic Freedom Forum
You want the best for America and policies from individual states help shape the direction of the Country. A series of recent nonpartisan, independent studies shows Maryland’s business climate is one of the worst in the Nation. Americans for Prosperity Foundation is going to explain these rankings and compare them to other states. You’ll leave with more knowledge to talk about economic freedom with everyone you meet!
What: Economic Freedom Forum
When: July 31st
Time: Doors Open 6:45
Where: Ocean Pines Community Center
With: Americans for Prosperity Foundation
School Choice & economic freedom, Milton Friedman’s legacy, is the free market approach that makes America the best. We need to understand and spread the values of economic freedom to improve these rankings.
What: Economic Freedom Forum
When: July 31st
Time: Doors Open 6:45
Where: Ocean Pines Community Center
With: Americans for Prosperity Foundation
School Choice & economic freedom, Milton Friedman’s legacy, is the free market approach that makes America the best. We need to understand and spread the values of economic freedom to improve these rankings.
GOVERNOR O’MALLEY TO HOST CLIMATE CHANGE SUMMIT WITH LEADING SCIENTISTS, COMMUNITY & BUSINESS LEADERS; RELEASE FINAL GREENHOUSE GAS REDUCTION PLAN
BALTIMORE, MD — On Thursday, July 25, Governor Martin O’Malley will host a Climate Change Summit on the progress Maryland has made in reducing greenhouse gas emissions that cause climate change and the important actions that still need to be taken to meet our goals. Governor O’Malley will release the State’s Greenhouse Gas Reduction Plan.
Under Governor O'Malley's leadership, Maryland is moving forward to address climate change with a Plan that will reduce greenhouse gases 25 percent by 2020.
The Summit will include presentations and panel discussions that feature leading Climate Change Scientists, renewable energy business leaders, elected government officials and environmental and community advocates.
WHAT: Governor O’Malley to release Maryland’s Greenhouse Gas Reduction Plan
WHEN: Thursday, July 25, 2013 at 10:00 a.m. (set up at 9:00 a.m.)
WHERE: Maritime Institute & Conference Center, 692 Maritime Boulevard in Linthicum Heights, MD 21090. Click here for directions.
WHO: Martin O’Malley, Governor of Maryland
Robert M. Summers, Secretary, Maryland Department of the Environment
PANELISTS:
Dr. Donald Boesch, President, University of Maryland Center for Environmental Science
Dr. Cindy J. Parker, Co-Director, Program on Global Sustainability and Health at Hopkins Bloomberg School of Public Health
Fred D. Mason, Jr., President, Maryland State and District of Columbia, AFL-CIO
Scott Wiater, President, Standard Solar
Margo G. Bailey, Mayor of Chestertown
Mike Tidwell, Director, Chesapeake Climate Action Network
Under Governor O'Malley's leadership, Maryland is moving forward to address climate change with a Plan that will reduce greenhouse gases 25 percent by 2020.
The Summit will include presentations and panel discussions that feature leading Climate Change Scientists, renewable energy business leaders, elected government officials and environmental and community advocates.
WHAT: Governor O’Malley to release Maryland’s Greenhouse Gas Reduction Plan
WHEN: Thursday, July 25, 2013 at 10:00 a.m. (set up at 9:00 a.m.)
WHERE: Maritime Institute & Conference Center, 692 Maritime Boulevard in Linthicum Heights, MD 21090. Click here for directions.
WHO: Martin O’Malley, Governor of Maryland
Robert M. Summers, Secretary, Maryland Department of the Environment
PANELISTS:
Dr. Donald Boesch, President, University of Maryland Center for Environmental Science
Dr. Cindy J. Parker, Co-Director, Program on Global Sustainability and Health at Hopkins Bloomberg School of Public Health
Fred D. Mason, Jr., President, Maryland State and District of Columbia, AFL-CIO
Scott Wiater, President, Standard Solar
Margo G. Bailey, Mayor of Chestertown
Mike Tidwell, Director, Chesapeake Climate Action Network
Barry Soetoro Registered To Vote In Washington D.C.
Did President Barack Obama find a way to vote twice in the 2012 elections? I honestly have no idea but we do have some incredible new evidence that raises serious questions. First let’s start with what we know about Barack Obama. Let’s go back to a November 6th article on Slate.com:
President Obama will be able to spend as much time campaigning on Election Day as he wants to because he voted in Illinois on Oct. 25. An Explainer reader points out that the Obama family resides more than 700 miles from Chicago, at 1600 Pennsylvania Ave, NW in Washington, D.C. Why is the president eligible to vote in Illinois?
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President Obama will be able to spend as much time campaigning on Election Day as he wants to because he voted in Illinois on Oct. 25. An Explainer reader points out that the Obama family resides more than 700 miles from Chicago, at 1600 Pennsylvania Ave, NW in Washington, D.C. Why is the president eligible to vote in Illinois?
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Ted Nugent Blames Democrats For Turning Detroit Into ‘Bloodsucker Excuse-Making Hell’
“Liberal Democrats took hold of the greatest, most productive city on earth and turned it into a bloodsucker excuse-making hell,” he told TMZ on Sunday. “Liberals seem to think that what Mugabe did to destroy the breadbasket of Africa in Zimbabwe is somehow a desirable model.”
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5th Annual (Save The...) BreastFest
The 5th annual (Save the…) BreastFest is being held Friday, September 13th at Pickles Pub on 8th Street in Ocean City, MD during bike week. There will t-shirts, contests, a 50/50, raffles, and entertainment provided by the area’s hottest bands. All of the proceeds go to the DE Breast Cancer Coalition who assists the women of the Eastern Shore. The 5th annual (Save the…) BreastFest is brought to you by Pickles Pub and Semiblind Entertainment. For more information go to www.facebook.com/savethebreastfest
Was Ron Paul Right?
Ron Paul wrote this scathing assessment and prediction about the newly created DHS eleven years ago. He was outraged by the $3 billion price tag. The DHS 2014 budget is $60 billion. Were his warnings about the American people being spied on by our government accurate? Are you safer today than you were in 2002? Do you have more or less liberty and freedom than you had in 2002? Was it worth it?
The Homeland Security Monstrosity
Rep. Ron Paul (R-TX) November 19, 2002
Congress spent just a few short hours last week voting to create the biggest new federal bureaucracy since World War II, not that the media or even most members of Congress paid much attention to the process. Yet our most basic freedoms as Americans – privacy in our homes, persons, and possessions; confidentiality in our financial and medical affairs; openness in our conversations, telephone, and internet use; unfettered travel; indeed the basic freedom not to be monitored as we go through our daily lives – have been dramatically changed. The last time Congress attempted a similarly ambitious reorganization of the government was with the creation of the Department of Defense in 1947. Back then, congressional hearings on the matter lasted two years before President Truman finally signed legislation. Even after this lengthy deliberation, however, organizational problems with the new department lasted more than 40 years! What do we expect from a huge bureaucracy conceived virtually overnight, by a Congress that didn’t even read the bill that creates it?Surely more deliberation was appropriate before establishing a giant new federal agency with 170,000 employees!
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The Homeland Security Monstrosity
Rep. Ron Paul (R-TX) November 19, 2002
Congress spent just a few short hours last week voting to create the biggest new federal bureaucracy since World War II, not that the media or even most members of Congress paid much attention to the process. Yet our most basic freedoms as Americans – privacy in our homes, persons, and possessions; confidentiality in our financial and medical affairs; openness in our conversations, telephone, and internet use; unfettered travel; indeed the basic freedom not to be monitored as we go through our daily lives – have been dramatically changed. The last time Congress attempted a similarly ambitious reorganization of the government was with the creation of the Department of Defense in 1947. Back then, congressional hearings on the matter lasted two years before President Truman finally signed legislation. Even after this lengthy deliberation, however, organizational problems with the new department lasted more than 40 years! What do we expect from a huge bureaucracy conceived virtually overnight, by a Congress that didn’t even read the bill that creates it?Surely more deliberation was appropriate before establishing a giant new federal agency with 170,000 employees!
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Government Of The People, By The People, For The People?
The U.S. government is certainly NOT of the people, NOT by the people, and NOT for the people. In the vernacular of the day, what do we have? Government of the People, by the People, for the People. NOT.
I submit that the people or peoples that inhabit a certain portion of North America known as America did not overthrow the government of Iran in 1953. They did not direct themselves into the Vietnam War. They did not decide to bomb Serbia, starve the people of Iraq, and later invade Iraq. They didn’t decide to debase the dollar. They did not devise or pass Obamacare. They did not decide to bail out Wall Street investment bankers or hedge funds. They did not decide to militarize America’s police. They did not decide to have a war on drugs with stiff prison sentences. They didn’t decide to have a war on poverty. They didn’t decide to have a massive NSA program of surveillance and spying on themselves and the rest of the world and then to keep it secret from themselves. A certain number of Americans may have been polled and their positive, negative and ambiguous opinions sounded out on some of these actions, but the People certainly didn’t make these decisions and many other important decisions.
Obama’s agenda has been his own. The same goes for his predecessors. The People have never written a State of the Union address that contained the president’s favorite causes and agenda. What the people have done is to supply the bodies and the resources to the State and to obey its laws and directives, and all of that under the threats that if they did not obey, they would be punished.
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I submit that the people or peoples that inhabit a certain portion of North America known as America did not overthrow the government of Iran in 1953. They did not direct themselves into the Vietnam War. They did not decide to bomb Serbia, starve the people of Iraq, and later invade Iraq. They didn’t decide to debase the dollar. They did not devise or pass Obamacare. They did not decide to bail out Wall Street investment bankers or hedge funds. They did not decide to militarize America’s police. They did not decide to have a war on drugs with stiff prison sentences. They didn’t decide to have a war on poverty. They didn’t decide to have a massive NSA program of surveillance and spying on themselves and the rest of the world and then to keep it secret from themselves. A certain number of Americans may have been polled and their positive, negative and ambiguous opinions sounded out on some of these actions, but the People certainly didn’t make these decisions and many other important decisions.
Obama’s agenda has been his own. The same goes for his predecessors. The People have never written a State of the Union address that contained the president’s favorite causes and agenda. What the people have done is to supply the bodies and the resources to the State and to obey its laws and directives, and all of that under the threats that if they did not obey, they would be punished.
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Update: Woman Who Crashed Car Into Bay Released From Hospital
A Maryland Transportation Authority Police spokesman said Sunday that Morgan Jade Lake, of Sunderland, was released a day earlier from Maryland Shock Trauma.
The collision occurred Friday night in the eastbound lanes of the bridge, which connects Maryland's Eastern Shore with the rest of the state.
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Congressman Harris Joins Congressmen Ruppersberger, Sarbanes To Announce Bill Honoring Maryland Shock Trauma Founder
Legislation would award prestigious Congressional Gold Medal to Dr. Cowley
WASHINGTON, DC – On Monday, Congressman Andy Harris, MD will join Congressmen C.A. Dutch Ruppersberger and John Sarbanes in announcing bipartisan legislation to posthumously award the Congressional Gold Medal to R Adams Cowley, who founded the nation’s first trauma center at the University of Maryland. The award is Congress’ highest expression of appreciation for distinguished achievements and contributions to society.
Today, the R Adams Cowley Shock Trauma Center at the University of Maryland Medical Center (UMMC) boasts a 97 percent survival rate. Hundreds of medical personnel have trained there including members of the U.S. military in preparation for deployment to combat zones.
Who: Congressman Dutch Ruppersberger
Congressman John Sarbanes
Congressman Andy HarrisDr. Thomas M. Scalea, Physician-Chief, Shock Trauma
Jeffrey A. Rivest, President & CEO, UMMC
When: Monday, July 22, 2013 10:30 AM
Where: University of Maryland Medical Center
WASHINGTON, DC – On Monday, Congressman Andy Harris, MD will join Congressmen C.A. Dutch Ruppersberger and John Sarbanes in announcing bipartisan legislation to posthumously award the Congressional Gold Medal to R Adams Cowley, who founded the nation’s first trauma center at the University of Maryland. The award is Congress’ highest expression of appreciation for distinguished achievements and contributions to society.
Today, the R Adams Cowley Shock Trauma Center at the University of Maryland Medical Center (UMMC) boasts a 97 percent survival rate. Hundreds of medical personnel have trained there including members of the U.S. military in preparation for deployment to combat zones.
Who: Congressman Dutch Ruppersberger
Congressman John Sarbanes
Congressman Andy HarrisDr. Thomas M. Scalea, Physician-Chief, Shock Trauma
Jeffrey A. Rivest, President & CEO, UMMC
When: Monday, July 22, 2013 10:30 AM
Where: University of Maryland Medical Center
Directions On How To Clean Your Monitor From The Inside!
Did you know that every 30 days it is necessary to clean the computer screen from the inside? Many people ignore this fact and do not know how. Manufacturers take advantage of this ignorance to increase their sales. My IT guy shared this and said feel free to share with my contacts this utility. To clean the screen from the inside, just click this link: HERE
REVEREND LAMBASTES SHARPTON AND JACKSON AS ‘RACE HUSTLERS AND POVERTY PIMPS,’ CALLS TRAYVON MARTIN A ‘THUG’
The Rev. Jesse Lee Peterson, president of the Brotherhood Organization of A New Destiny (BOND), a conservative nonprofit, made some contentious statements on CNN’s “Piers Morgan Tonight” on Thursday. In addition to lambasting Al Sharpton and Jesse Jackson for inserting race into Trayvon Martin’s death and George Zimmerman’s subsequent trial, he called the 17-year-old shooting victim a “thug.”
The exchange began with Peterson claiming that race played no role in the highly-publicized tragedy.
“This case was not about race at all and what happened – you have the race-hustlers and poverty pimps like Jesse Jackson and Al Sharpton and others who turned it into a race issue in order to gain power and wealth,” he charged.
Peterson also targeted President Barack Obama, calling his past comment about Martin (“You know, if I had a son, he’d look like Trayvon”) “insane.”
These statements, he said, were intended to “incite the anger of black Americans and others.”
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The exchange began with Peterson claiming that race played no role in the highly-publicized tragedy.
“This case was not about race at all and what happened – you have the race-hustlers and poverty pimps like Jesse Jackson and Al Sharpton and others who turned it into a race issue in order to gain power and wealth,” he charged.
Peterson also targeted President Barack Obama, calling his past comment about Martin (“You know, if I had a son, he’d look like Trayvon”) “insane.”
These statements, he said, were intended to “incite the anger of black Americans and others.”
More
Britain's Former Top Spy Threatens To Expose The 'Dodgy Dossier' Used To Push Iraq War
A former head of MI6 has threatened to expose the secrets of the ‘dodgy dossier’ if he disagrees with the long-awaited findings of the Chilcot Inquiry into the UK’s role in the Iraq War.
Sir Richard Dearlove, 68, has spent the last year writing a detailed account of events leading up to the war, and had intended to only make his work available to historians after his death.
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Sir Richard Dearlove, 68, has spent the last year writing a detailed account of events leading up to the war, and had intended to only make his work available to historians after his death.
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Bernanke "The Only Game In Town": Really?
Of the three games in town, only one isn't doomed: the real economy.
Last year, Senator Schumer (Democrat, N.Y.) famously told Fed chairman Ben Bernanke "You are the only game in town." Really, Senator? What about the real economy? Bernanke and the Fed's machinations are indeed the only game in town for the parasitic financiers, but unnoticed by the Senator, America's real economy is innovating away from the dead hand of the Fed and its toxic spew of free money to the predatory class.
There's actually three games in town: the financier game the Fed is playing that will end in collapse, the Federal government's borrow-and-blow trillions of dollars game that will also end badly, and the real economy, where millions of people don't give a rat's rear-end about Bernanke's latest attempt to placate the financial Monster Id he has created.
Bernanke is irrelevant to millions of people who are building the next economy beneath the rotting soggy mess of the financialized one Bernanke is attempting to resuscitate.
Here is Bernanke's game: Bernanke has managed to stretch Phase II into five years; Phase III will finally begin in 2014-15 as the unintended consequences of Bernanke's save-the-financial-parasites game take the financial markets by the throat:
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Last year, Senator Schumer (Democrat, N.Y.) famously told Fed chairman Ben Bernanke "You are the only game in town." Really, Senator? What about the real economy? Bernanke and the Fed's machinations are indeed the only game in town for the parasitic financiers, but unnoticed by the Senator, America's real economy is innovating away from the dead hand of the Fed and its toxic spew of free money to the predatory class.
There's actually three games in town: the financier game the Fed is playing that will end in collapse, the Federal government's borrow-and-blow trillions of dollars game that will also end badly, and the real economy, where millions of people don't give a rat's rear-end about Bernanke's latest attempt to placate the financial Monster Id he has created.
Bernanke is irrelevant to millions of people who are building the next economy beneath the rotting soggy mess of the financialized one Bernanke is attempting to resuscitate.
Here is Bernanke's game: Bernanke has managed to stretch Phase II into five years; Phase III will finally begin in 2014-15 as the unintended consequences of Bernanke's save-the-financial-parasites game take the financial markets by the throat:
More
Plane That Takes Off From MD Crashes In VA
State police and federal authorities are investigating the crash of a small plane in Essex County.
Virginia State Police Sgt. Thomas J. Molnar says in a news release that the pilot and three male passengers weren't injured.
Molnar says the single-engine fixed-wing plane was traveling from Salisbury, Md., to the Hanover County Municipal Airport when the engine failed shortly after 8 p.m. Saturday.
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Virginia State Police Sgt. Thomas J. Molnar says in a news release that the pilot and three male passengers weren't injured.
Molnar says the single-engine fixed-wing plane was traveling from Salisbury, Md., to the Hanover County Municipal Airport when the engine failed shortly after 8 p.m. Saturday.
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Saggy Pants Ban Helps Wildwood Get Families To N.J. Shore
Like other New Jersey (STONJ1) shore towns, Wildwood is trying to attract visitors afterHurricane Sandy ravaged the region in October. It just doesn’t want to see their underwear.
The Cape May County municipality has banned sagging pants on its boardwalk in hopes of making the resort community more family-friendly. Those caught with trousers that sink 3 inches (8 centimeters) below the hips, exposing either underwear or bare skin, are subject to fines of as much as $200 and 40 hours of community service. The ordinance also prohibits bare feet and going shirtless after 8 p.m.
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The Cape May County municipality has banned sagging pants on its boardwalk in hopes of making the resort community more family-friendly. Those caught with trousers that sink 3 inches (8 centimeters) below the hips, exposing either underwear or bare skin, are subject to fines of as much as $200 and 40 hours of community service. The ordinance also prohibits bare feet and going shirtless after 8 p.m.
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Obama ‘Re-Racialized’ Zimmerman Case With His Comments
Charles Krauthammer on Friday blasted President Barack Obama for what he said was re-injecting racial controversy into the shooting death of Trayvon Martin.
Krauthammer called Obama’s surprise remarks on race and Martin’s death “a political speech addressed to his constituency on the left” that was disguised as a “philosophical speech addressed to the whole nation.”
“Look, I gave him and [Attorney General Eric] Holder credit all week for trying to de-racialize the issue. And what Obama did, I think, unfortunately, today is to re-racialize it,” Krauthammer said on Fox News. “The first statement he issued after the verdict…was to talk about we have to honor what the jury decided and then he spoke about helping our communities helping our neighbors and gun control. But it wasn’t about race…but Obama re-injected it [Friday].”
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Krauthammer called Obama’s surprise remarks on race and Martin’s death “a political speech addressed to his constituency on the left” that was disguised as a “philosophical speech addressed to the whole nation.”
“Look, I gave him and [Attorney General Eric] Holder credit all week for trying to de-racialize the issue. And what Obama did, I think, unfortunately, today is to re-racialize it,” Krauthammer said on Fox News. “The first statement he issued after the verdict…was to talk about we have to honor what the jury decided and then he spoke about helping our communities helping our neighbors and gun control. But it wasn’t about race…but Obama re-injected it [Friday].”
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Ala. Woman's Search For Long-Lost Half Brother Ends In Md.
Jan Irvine and her son, Joseph, traveled to Charm City looking for answers about her half brother, David, who she only recently learned about. After a year of searching and enlisting the I-Team to help, they finally know who he is.
The story all began with a photo, I-Team reporter Lisa Robinson said.
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Brooke Starts New Clinical Trial In Boston
