Detroit emergency manager says he'll haggle with bondholders | Crain's Detroit Business:
"Detroit has about $8.6 billion of long-term bond debt, including $6.1 billion of non-general obligation debt, $963.4 million of general-obligation bonds and $1.5 billion of borrowings to fund pension liabilities, according to a report from a financial team that reviewed the city’s finances.
When other pension and retiree health-care obligations are included, the city burden totals almost $15 billion."
Thursday, March 28, 2013
GERMAN PAPER WARNS OF COMING ICE AGE:
Instapundit » Blog Archive »
"GERMAN PAPER WARNS OF COMING ICE AGE:
We may yet see some of the more grizzled would-be climate scientists who warned that global cooling was about to destroy the earth in the 1970s, told us that global warming was about to destroy the earth in more recent decades switch back to telling us that global cooling is soon to destroy the earth.
And all the while championing the same socialist formula to prevent mankind’s destruction — which is no doubt just right around the corner:"
(Video in link)
"GERMAN PAPER WARNS OF COMING ICE AGE:
We may yet see some of the more grizzled would-be climate scientists who warned that global cooling was about to destroy the earth in the 1970s, told us that global warming was about to destroy the earth in more recent decades switch back to telling us that global cooling is soon to destroy the earth.
And all the while championing the same socialist formula to prevent mankind’s destruction — which is no doubt just right around the corner:"
(Video in link)
Feds Spending $880,000 to Study Benefits of Snail Sex
Feds Spending $880,000 to Study Benefits of Snail Sex | CNS News:
"The study, first funded in 2011 and continuing until 2015, will study the New Zealand snails to see if it is better that they reproduce sexually or asexually – the snail can do both – hoping to gain insight on why so many organisms practice sexual reproduction."
"The study, first funded in 2011 and continuing until 2015, will study the New Zealand snails to see if it is better that they reproduce sexually or asexually – the snail can do both – hoping to gain insight on why so many organisms practice sexual reproduction."
VIDEO: Chicago Teachers Union President Recommends Lying to Parents!
VIDEO: Chicago Teachers Union President Recommends Lying to Parents! | Fox News Insider:
"Chicago Teachers Union President Karen Lewis made an eyebrow-raising recommendation at an education conference that took place earlier this week, doling out “tips” that she said really work.
One of the suggestions?
Lie to parents.
“I used to love parent conferences, because I would just lie to the parents.
[I would say of their child], ‘he’s wonderful!’
And the parents would look at me like, are you talking about my kid?
And the kid would sit there like, when is she gonna blow the whistle on me?
Now, I have a hostage!”
"Chicago Teachers Union President Karen Lewis made an eyebrow-raising recommendation at an education conference that took place earlier this week, doling out “tips” that she said really work.
One of the suggestions?
Lie to parents.
“I used to love parent conferences, because I would just lie to the parents.
[I would say of their child], ‘he’s wonderful!’
And the parents would look at me like, are you talking about my kid?
And the kid would sit there like, when is she gonna blow the whistle on me?
Now, I have a hostage!”
New e-mails reveal Feds not “forthright” about fake cell tower devices
New e-mails reveal Feds not “forthright” about fake cell tower devices | Ars Technica:
"Groups like the ACLU are concerned that unsupervised use of such technology can inadvertently collect information of people who are not suspected of any crime, nor under investigation."
"Groups like the ACLU are concerned that unsupervised use of such technology can inadvertently collect information of people who are not suspected of any crime, nor under investigation."
Surging Student-Loan Debt Is Crushing the System
Surging Student-Loan Debt Is Crushing the System:
"Credit-rating firm Equifax said $3.5 billion in government and private student loans went bad in the first three months of 2013, the most since the company began keeping track.
The U.S. Department of Education said 6.8 million federal student loan borrowers are now in default, representing $85 billion in debt.
And the department's systems for collecting the bad loans are struggling to keep up.
The Department's Office of Inspector General found in December that more than $1.1 billion in defaulted student loans were stuck in a sort of computer limbo."
"Credit-rating firm Equifax said $3.5 billion in government and private student loans went bad in the first three months of 2013, the most since the company began keeping track.
The U.S. Department of Education said 6.8 million federal student loan borrowers are now in default, representing $85 billion in debt.
And the department's systems for collecting the bad loans are struggling to keep up.
The Department's Office of Inspector General found in December that more than $1.1 billion in defaulted student loans were stuck in a sort of computer limbo."
Free Speech under Fire in Michigan Cattle Field
Free Speech under Fire in Michigan Cattle Field - By Patrick Brennan - The Corner - National Review Online
The judge, Steven Servaas, seemed sympathetic at the first hearing, expressing serious concerns over the township’s expansive definition of what speech it can regulate.
“My own feeling,” he said, “is that you have to be pretty careful about what you let the government stop you from saying.”
He got the township’s attorney to admit that a similarly sized sign with as anodyne a message as “I Love America” would be an unacceptable political display on private land, even if it weren’t visible from a road.
The government attorney further explained that “there is really no provision under the zoning ordinance that would allow a 300-square-foot sign that says the message that it says, or a commercial one, other than a billboard.”
Van Den Heuvel, however, believes there’s one clearly more important statute that gives Verduin the right to speak on his own property:
“The Constitution is clear.
What do we value highest?
We want a vigorous political dialogue, no matter what side you’re on.”
If found “not responsible” — like getting off of a traffic ticket — Verduin won’t have to pay the small fine and can keep his sign, but more important, the township will probably give up trying to enforce the rule anywhere.
If found “not responsible” — like getting off of a traffic ticket — Verduin won’t have to pay the small fine and can keep his sign, but more important, the township will probably give up trying to enforce the rule anywhere.
Americans Migrating To More Free GOP States With Better Income Growth
Americans Migrating To More Free GOP States With Better Income Growth - Investors.com
"Americans are migrating from less-free liberal states to more-free conservative states, where they are doing better economically, according to a new study published Thursday by the George Mason University's Mercatus Center.
....It found that the freest states tended to be conservative "red" states, while the least free were liberal "blue" states."
"Americans are migrating from less-free liberal states to more-free conservative states, where they are doing better economically, according to a new study published Thursday by the George Mason University's Mercatus Center.
....It found that the freest states tended to be conservative "red" states, while the least free were liberal "blue" states."
SNAIL SEX! Feds Spending $880,000 To Study SNAIL SEX!?!? Your Tax Dollars At Work
"The Lid": SNAIL SEX! Feds Spending $880,000 To Study SNAIL SEX!?!? Your Tax Dollars At Work
"Have you ever sat in your bed at night, stared at the ceiling and said to yourself,
"Gee, I wonder if there is any benefit to New Zealand mud snails having sex?"
Me neither.
Probably the only people who wonder about New Zealand mud snails also wonder why some duck penis' are in the shape of a corkscrew.
And our federal government is funding them both."
"Have you ever sat in your bed at night, stared at the ceiling and said to yourself,
"Gee, I wonder if there is any benefit to New Zealand mud snails having sex?"
Me neither.
Probably the only people who wonder about New Zealand mud snails also wonder why some duck penis' are in the shape of a corkscrew.
And our federal government is funding them both."
Feds Waste $3.8 Million to ‘Decrease Human-Elephant Conflict’
Feds Waste $3.8 Million to ‘Decrease Human-Elephant Conflict’ | Wizbang:
"The federal government is looking into the serious issue of the “conflict” between humans and elephants.
To help out on that important issue, the government generously gave $3.8 million of your tax dollars to study the matter.
The princely sum was awarded in 2011 and 2012 for the African Elephant Conservation grant and was sent to “any African government agency responsible for African elephant conservation and protection and any other organization or individual with demonstrated experience in African elephant conservation.”
Despite the millions offered, the federal government assured our African partners that no documentation or credentials were required to apply for the grant."
"The federal government is looking into the serious issue of the “conflict” between humans and elephants.
To help out on that important issue, the government generously gave $3.8 million of your tax dollars to study the matter.
The princely sum was awarded in 2011 and 2012 for the African Elephant Conservation grant and was sent to “any African government agency responsible for African elephant conservation and protection and any other organization or individual with demonstrated experience in African elephant conservation.”
Despite the millions offered, the federal government assured our African partners that no documentation or credentials were required to apply for the grant."
Michigan Catastrophic Claims Association increases rates amid discussions on changing no-fault auto insurance
Michigan Catastrophic Claims Association increases rates amid discussions on changing no-fault auto insurance | MLive.com:
"Michigan motorists will pay an extra $11 per year to cover the rising costs of the state's unlimited lifetime medical care for auto-related injuries.
The Michigan Catastrophic Claims Association on Wednesday announced it will increase the premium paid for catastrophic coverage by 6 percent to $186 per insured vehicle from July 1, 2013 to June 30, 2014.
The current assessment is $175, which represents a $30 increase from the previous year.
Michigan is the only state to offer unlimited lifetime medical care for auto-related injuries under its no-fault auto insurance system. "
"Michigan motorists will pay an extra $11 per year to cover the rising costs of the state's unlimited lifetime medical care for auto-related injuries.
The Michigan Catastrophic Claims Association on Wednesday announced it will increase the premium paid for catastrophic coverage by 6 percent to $186 per insured vehicle from July 1, 2013 to June 30, 2014.
The current assessment is $175, which represents a $30 increase from the previous year.
Michigan is the only state to offer unlimited lifetime medical care for auto-related injuries under its no-fault auto insurance system. "
Wednesday, March 27, 2013
The Awesome Adapter for Your 12-Gauge Shotgun That Turns It Into an ‘Ultimate Survival Rifle’
The Awesome Adapter for Your 12-Gauge Shotgun That Turns It Into an ‘Ultimate Survival Rifle’ | Video | TheBlaze.com:
"In an extreme survival situation where the appropriate amount of ammunition for the type of firearm you’re carrying can’t necessarily be guaranteed, what would you do?
Carry multiple types of firearms to increase your chances of coming across ammo you can use?
You could do that, or you could have an adapter system that comes in a handy pouch that allows one 12-gauge shotgun to take 11 different types of ammunition.
The creator of Gear Up’s X Caliber Shotgun Gauge Adapter System, Tim Ralston, told TheBlaze it’s like carrying 11 guns in one."
"In an extreme survival situation where the appropriate amount of ammunition for the type of firearm you’re carrying can’t necessarily be guaranteed, what would you do?
Carry multiple types of firearms to increase your chances of coming across ammo you can use?
You could do that, or you could have an adapter system that comes in a handy pouch that allows one 12-gauge shotgun to take 11 different types of ammunition.
The creator of Gear Up’s X Caliber Shotgun Gauge Adapter System, Tim Ralston, told TheBlaze it’s like carrying 11 guns in one."
Alabama lawmaker's email: 'Slave-holding, murdering, adulterous, baby-raping, snaggle-toothed kin folk' | al.com
Alabama lawmaker's email: 'Slave-holding, murdering, adulterous, baby-raping, snaggle-toothed kin folk' | al.com:
"State Rep. Joe Mitchell, D-Mobile, had an outlandish exchange via email with a Jefferson County man who asked him and other lawmakers not to pass any laws that would restrict gun ownership.
...Mitchell responded from his public, ALHouse.gov email account an hour later, telling Maxwell:
"Your folk never used all this sheit (sic) to protect my folk from your slave-holding, murdering, adulterous, baby-raping, incestuous, snaggle-toothed, backward-a**ed, inbreed (sic), imported criminal-minded kin folk."
"State Rep. Joe Mitchell, D-Mobile, had an outlandish exchange via email with a Jefferson County man who asked him and other lawmakers not to pass any laws that would restrict gun ownership.
...Mitchell responded from his public, ALHouse.gov email account an hour later, telling Maxwell:
"Your folk never used all this sheit (sic) to protect my folk from your slave-holding, murdering, adulterous, baby-raping, incestuous, snaggle-toothed, backward-a**ed, inbreed (sic), imported criminal-minded kin folk."
Federal plan aims to help wildlife adapt to climate change
Federal plan aims to help wildlife adapt to climate change - latimes.com:
"Over the next five years, the plan establishes priorities for what will probably be a decades-long effort.
One key proposal is to create wildlife "corridors" that would let animals and plants move to new habitats.
U.S. Fish and Wildlife Service Director Daniel M. Ashe said such routes could be made through easements and could total "much more than 1 million acres."
The plan does not provide an estimate of the cost."
"Over the next five years, the plan establishes priorities for what will probably be a decades-long effort.
One key proposal is to create wildlife "corridors" that would let animals and plants move to new habitats.
U.S. Fish and Wildlife Service Director Daniel M. Ashe said such routes could be made through easements and could total "much more than 1 million acres."
The plan does not provide an estimate of the cost."
Expect These Eight Steps From The Government’s Playbook | Zero Hedge
Expect These Eight Steps From The Government’s Playbook | Zero Hedge
Direct confiscation
As Cyprus showed us, bankrupt governments are quite happy to plunder people’s bank accounts, especially if it’s a wealthy minority.Aside from bank levies, though, this also includes things like seizing retirement accounts (Argentina), increases in civil asset forfeiture (United States), and gold criminalization.Taxes
Just another form of confiscation, taxation plunders the hard work and talent of the citizenry. But thanks to decades of brainwashing, it’s more socially acceptable. We’ve come to regard taxes as a ‘necessary evil,’ not realizing that the country existed for decades, even centuries, without an income tax.Yet when bankrupt governments get desperate enough, they begin imposing new taxes… primarily WEALTH taxes (Argentina) or windfall profits taxes (United States in the 1970s).Inflation
This is indirect confiscation– the slow, gradual plundering of people’s savings. Again, governments have been quite successful at inculcating a belief that inflation is also a necessary evil. They’re also adept at fooling people with phony inflation statistics.Capital Controls
Governments can, do, and will restrict the free-flow of capital across borders. They’ll prevent you from moving your own money to a safer jurisdiction, forcing you to keep your hard earned savings at home where it can be plundered and devalued.We’re seeing this everywhere in the developed world… from withdrawal limits in Europe to cash-sniffing dogs at border checkpoints. And it certainly doesn’t help when everyone from the IMF to Nobel laureate Paul Krugman argue in favor of Capital Controls.Wage and Price controls
When even the lowest common denominator in society realizes that prices are getting higher, governments step in and ‘fix’ things by imposing price controls.Occasionally this also includes wage controls… though wage increases tend to be vastly outpaced by price increases.Of course, as any basic economics textbook can illustrate, price controls never work and typically lead to shortages and massive misallocations.Wage and Price controls– on STEROIDS
When the first round of price controls don’t work, the next step is to impose severe penalties for not abiding by the terms.In the days of Diocletian’s Edict on Prices in the 4th century AD, any Roman caught violating the price controls was put to death.In post-revolutionary France, shopkeepers who violated the “Law of Maximum” were fleeced of their private property… and a national spy system was put into place to enforce the measures.Increased regulation
Despite being completely broke, governments will dramatically expand their ranks in a last desperate gasp to envelop the problem in sheer size.In the early 1920s, for example, the number of bureaucratic officials in the Weimar Republic increased 242%, even though the country was flat broke from its Great War reparation payments and hyperinflation episode.The increase in both regulations and government officials criminalizes and/or controls almost every aspect of our existence… from what we can/cannot put in our bodies to how we are allowed to raise our own children.War and National Emergency
When all else fails, just invade another country. Pick a fight. Keep people distracted by work them into a frenzy over men in caves… or some completely irrelevant island.
Could The "Cyprus Fiasco" Occur In The United States?
Could The "Cyprus Fiasco" Occur In The United States? | Zero Hedge
"Politics aside, the bottom line is that the Rubicon has been crossed, and deposits have now been forcefully confiscated in what Europe promises to be a standalone case.
What is certain, is that nobody will wait to find out how long it takes before Europe's class of increasingly more desperate and ill-meaning despots is found to be have lied once more (as it has about everything else since the start of the European crisis).
And while the mainstream media will be focused primarily on Europe in the coming days, as BCG and we have warned, the topic of "wealth taxation" is now front and center, and it stars not only Europe, but the US as well."
"Politics aside, the bottom line is that the Rubicon has been crossed, and deposits have now been forcefully confiscated in what Europe promises to be a standalone case.
What is certain, is that nobody will wait to find out how long it takes before Europe's class of increasingly more desperate and ill-meaning despots is found to be have lied once more (as it has about everything else since the start of the European crisis).
And while the mainstream media will be focused primarily on Europe in the coming days, as BCG and we have warned, the topic of "wealth taxation" is now front and center, and it stars not only Europe, but the US as well."
When Work Is Punished: The Tragedy Of America's Welfare State
When Work Is Punished: The Tragedy Of America's Welfare State | Zero Hedge:"Exactly two years ago, some of the more politically biased progressive media outlets (who are quite adept at creating and taking down their own strawmen arguments, if not quite as adept at using an abacus, let alone a calculator) took offense at our article "In Entitlement America, The Head Of A Household Of Four Making Minimum Wage Has More Disposable Income Than A Family Making $60,000 A Year."
In it we merely explained what has become the painful reality in America: for increasingly more it is now more lucrative - in the form of actual disposable income - to sit, do nothing, and collect various welfare entitlements, than to work. "
Government Money
Sultan Knish: Government Money:
"Do you know of any company in America where for a mere few billion, you could become the CEO of a company whose shareholders would be forced to sit back and watch for four years while you run up trillion dollar deficits and parcel out billions to your friends?
Without going to jail or being marched out in handcuffs.
A company that will allow you to indulge yourself, travel anywhere at company expense, live the good life, and only work when you feel like it.
That will legally indemnify you against all shareholder lawsuits, while allowing you to dispose not only of their investments, but of their personal property in any way you see fit.
There is only one such company.
It's called the United States Government. "
"Do you know of any company in America where for a mere few billion, you could become the CEO of a company whose shareholders would be forced to sit back and watch for four years while you run up trillion dollar deficits and parcel out billions to your friends?
Without going to jail or being marched out in handcuffs.
A company that will allow you to indulge yourself, travel anywhere at company expense, live the good life, and only work when you feel like it.
That will legally indemnify you against all shareholder lawsuits, while allowing you to dispose not only of their investments, but of their personal property in any way you see fit.
There is only one such company.
It's called the United States Government. "
PBS’ follow up to Erin Brockovich left key details out
PBS’ follow up to Erin Brockovich left key details out | Ars Technica:
"But that approach—letting everyone have their say, without any critical evaluation—is part of the problem.
This is not a question of differing points of view, but one of carefully sifting the knowns and unknowns. Presenting opposing perspectives and leaving the viewer to decide is not the way to communicate science, and it doesn't excuse broadcasting misleading or incomplete information."
"But that approach—letting everyone have their say, without any critical evaluation—is part of the problem.
This is not a question of differing points of view, but one of carefully sifting the knowns and unknowns. Presenting opposing perspectives and leaving the viewer to decide is not the way to communicate science, and it doesn't excuse broadcasting misleading or incomplete information."
How the Maker of TurboTax Fought Free, Simple Tax Filing
How the Maker of TurboTax Fought Free, Simple Tax Filing - ProPublica:
"Imagine filing your income taxes in five minutes — and for free.
You'd open up a pre-filled return, see what the government thinks you owe, make any needed changes and be done.
The miserable annual IRS shuffle, gone.
It's already a reality in Denmark, Sweden and Spain.
The government-prepared return would estimate your taxes using information your employer and bank already send it.
Advocates say tens of millions of taxpayers could use such a system each year, saving them a collective $2 billion and 225 million hours in prep costs and time, according to one estimate."
"Imagine filing your income taxes in five minutes — and for free.
You'd open up a pre-filled return, see what the government thinks you owe, make any needed changes and be done.
The miserable annual IRS shuffle, gone.
It's already a reality in Denmark, Sweden and Spain.
The government-prepared return would estimate your taxes using information your employer and bank already send it.
Advocates say tens of millions of taxpayers could use such a system each year, saving them a collective $2 billion and 225 million hours in prep costs and time, according to one estimate."
Whitehall Township officials hear emotional appeals to keep Walmart out of northern Muskegon County (video)
Whitehall Township officials hear emotional appeals to keep Walmart out of northern Muskegon County (video) | MLive.com:
"In an emergency board meeting Sunday night, the chamber leadership voted 11-1 to oppose the Walmart plans.
“The White Lake chamber is here tonight to ask you to slow down, carefully review the impact of some short-term economic gain for your township vs. the devastation this will cause to local businesses throughout the White Lake area,” Zickel said.
“Significant loss of employment, boarded up storefronts, lost tax revenue and a severely crippled tourist industry” are in White Lake’s future with a Walmart, he claimed. “Tourists come here for the beauty of the area and the special business and retail climate that exists – not shop at Walmart."
"In an emergency board meeting Sunday night, the chamber leadership voted 11-1 to oppose the Walmart plans.
“The White Lake chamber is here tonight to ask you to slow down, carefully review the impact of some short-term economic gain for your township vs. the devastation this will cause to local businesses throughout the White Lake area,” Zickel said.
“Significant loss of employment, boarded up storefronts, lost tax revenue and a severely crippled tourist industry” are in White Lake’s future with a Walmart, he claimed. “Tourists come here for the beauty of the area and the special business and retail climate that exists – not shop at Walmart."
Whitehall council member opposing Walmart: 'If we want a downtown, we have to fight for it'
Whitehall council member opposing Walmart: 'If we want a downtown, we have to fight for it' | MLive.com:
"The city council then voted to approve a resolution opposing Walmart's entrance into the small, close-knit community.
“I’m glad we did that so quickly,” Council member Tanya Cabala said. “If we want a downtown, we have to fight for it.”"
"The city council then voted to approve a resolution opposing Walmart's entrance into the small, close-knit community.
“I’m glad we did that so quickly,” Council member Tanya Cabala said. “If we want a downtown, we have to fight for it.”"
Study: Health overhaul to raise claims cost an average 32 percent
Study: Health overhaul to raise claims cost an average 32 percent : page all - NorthJersey.com:
"Medical claims costs — the biggest driver of health insurance premiums — will jump an average 32 percent for Americans' individual policies under President Barack Obama's overhaul, according to a study by the nation's leading group of financial risk analysts."
"Medical claims costs — the biggest driver of health insurance premiums — will jump an average 32 percent for Americans' individual policies under President Barack Obama's overhaul, according to a study by the nation's leading group of financial risk analysts."
The Prevailing Wage is now on Snyder's menu
The Prevailing Wage is now on Snyder's menu - Politics - The Detroit News:
"Michigan’s non-union, merit-shop construction companies are ready to do a great job for the taxpayers at a better price, and they’re not taking “no” for an answer.
The unions think all construction workers need to be paid 60 percent higher than the market rate, even though unions represent just 17 percent of the state’s construction workforce.
And construction is the only industry affected by the prevailing wage.
In a union stronghold like Michigan, politicians have historically been averse to taking on prevailing wage, despite the estimated $250 million per year in artificially-inflated wages paid out to union contractors by state and local governments.
Knowing it is often hard to get elected officials to do what’s best for job creators, the Association of Builders and Contractors of Michigan decided to first go after local communities that had local prevailing wage laws on the books."
"Michigan’s non-union, merit-shop construction companies are ready to do a great job for the taxpayers at a better price, and they’re not taking “no” for an answer.
The unions think all construction workers need to be paid 60 percent higher than the market rate, even though unions represent just 17 percent of the state’s construction workforce.
And construction is the only industry affected by the prevailing wage.
In a union stronghold like Michigan, politicians have historically been averse to taking on prevailing wage, despite the estimated $250 million per year in artificially-inflated wages paid out to union contractors by state and local governments.
Knowing it is often hard to get elected officials to do what’s best for job creators, the Association of Builders and Contractors of Michigan decided to first go after local communities that had local prevailing wage laws on the books."
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