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‘The American Banking System Might
Not Last Until Monday’

American Magazine, by Alex J. Pollock

Original Article

Posted By:EagleBlurst, 8/18/2014 9:14:16 AM

How good is the human group mind at financial memory? Pretty bad. For example, consider this really striking bit of history: “The then Federal Reserve Chairman made a phone call to the Bank of Japan Governor on that critical Friday night (Saturday in Japan) in August of that year.” The chairman’s “first words were that the American banking system might not last until Monday. The crisis was that serious.” Financial history quiz: Which year was that? What was the crisis? Who was the Federal Reserve chairman making such an extreme statement? Hint: our most recent financial crisis, which started in

      


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Below, you will find ...

Most Recent Articles posted by "EagleBlurst"

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Most Active Articles (last 48 hours)




Most Recent Articles posted by "EagleBlurst"



100 Years of the Panama Canal
American Magazine, by John Steele Gordon    Original Article
Posted By: EagleBlurst- 8/15/2014 10:52:37 AM     Post Reply
On August 15, 1914, the world was fixated on the dramatic first month of World War I, as the German army raced towards Paris and the fate of Europe hung in the balance. But on that day, half a world away, a ship named the SS Ancon became the first vessel to officially transit the Panama Canal — and the canal was opened for business. It had been 401 years since Balboa had first crossed the Isthmus in 1513 and “stared at the Pacific ... Silent, upon a peak in Darien.” For most of that time, a water route across Panama

   

 

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A Flawed E-Cigarette Regulation
American Magazine, by Sally Satel and Alan D. Viard    Original Article
Posted By: EagleBlurst- 8/13/2014 9:22:08 AM     Post Reply
Recently, the New York Times ran several high-profile essays justifying the liberalization of marijuana laws. Editorialists addressed the health effects, the need for product standards, and the importance of banning sales to minors. Another major recommendation was to keep marijuana production and marketing from becoming corporatized as "Big Pot." Agree or disagree with marijuana legalization, it’s refreshing to see sober efforts to balance freedom to use marijuana, an intoxicant, against the harms that can result from expanded legal access to it. We only wish that such consideration was being extended to electronic cigarettes: a nicotine delivery device that has the

Good News for U.S. Capital Markets
American Magazine, by Peter J. Wallison    Original Article
Posted By: EagleBlurst- 8/8/2014 11:43:13 AM     Post Reply
After its last meeting at the end of July, the Financial Stability Oversight Council (FSOC) announced that it has “directed staff to undertake a more focused analysis of industry-wide products and activities” in the asset management industry. This has been interpreted as a step back from the FSOC´s earlier position that the financial distress of large asset managers — or at least the funds they manage — could have systemic effects on the U.S. financial system and thus warrant designation as systemically important financial institutions, or SIFIs. The Wall Street Journal reported that the FSOC had “agreed to revamp their

In Defense of Price Gouging
and Profiteering
American Magazine, by Benjamin Zycher    Original Article
Posted By: EagleBlurst- 8/8/2014 9:22:23 AM     Post Reply
Minor news stories with only a local direct interest nonetheless can carry large general implications, and just such a recent item emerged last weekend: Residents of Toledo, Ohio were warned not to use city water supplies due to algae growth in Lake Erie. (After a few days, the water was declared safe to drink.) For those few days, unsurprisingly, the demand and market prices for bottled water increased sharply, and few politicians can resist such opportunities for demagoguery: “Ohio Attorney General Mike DeWine is dispatching employees to the city to investigate complaints of price-gouging on bottled water.” “Price gouging” is

A bipartisan consensus
on how to fight poverty?
American Magazine, by Arnold Kling    Original Article
Posted By: EagleBlurst- 8/6/2014 10:38:15 AM     Post Reply
Two recent comprehensive policy proposals for reforming the government´s approach to fighting poverty — one from a center-left think tank, the other from Republican Congressman Paul Ryan — seem to share some core ideas. Does this represent an opening for some rare bipartisanship? In June, the Hamilton Project released a free e-book, Policies to Address Poverty in America, edited by Melissa S. Kearney and Benjamin H. Harris. In July, Ryan´s House Budget Committee put out a “discussion draft,” Expanding Opportunity in America. Each represents a serious, broad attempt to improve anti-poverty policy. Ryan´s approach centers on consolidating many existing programs

The Long-Hours Luxury
American Magazine, by Tino Sanandaji    Original Article
Posted By: EagleBlurst- 8/4/2014 2:27:50 PM     Post Reply
The United States and most other industrialized countries have experienced a rapid increase in inequality since around the 1970s. Unsurprisingly, the discussion of inequality has become politicized. Some deny the increase in inequality entirely, in spite of overwhelming evidence. Others exaggerate the magnitude of inequality, for example by claiming that all income gains have gone to the rich. The estimates of income distribution by the Congressional Budget Office avoids several common methodological problems. The CBO adjusts for declining household size and uses a broader definition of income that includes pension and health care contributions by employers. Between 1979 and 2010

   

 

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It´s Time for Real Reform of
Veterans´ Health
American Magazine, by Joseph Antos    Original Article
Posted By: EagleBlurst- 7/31/2014 1:32:06 PM     Post Reply
Congress is expected to adopt a bipartisan deal to improve veterans´ health care before it adjourns for a five-week summer recess. Representative Jeff Miller (R-Florida) and Senator Bernie Sanders (I-Vermont), chairmen of the House and Senate Veterans Affairs committees, announced a $17 billion initiative that would help reduce the backlog of veterans who have had to endure long waits before receiving the care they need. The legislation addresses the immediate crisis, but it will not cure a system plagued by inefficiency, ineptitude, and worse. The Veterans Health Administration, part of the Department of Veterans Affairs (VA), made headlines

Big Data: Here to Stay, but
with Caveats
American Magazine, by Edward Tenner    Original Article
Posted By: EagleBlurst- 7/30/2014 11:09:34 AM     Post Reply
At first glance it’s strange that the idea of big data — often imagined simply as the use of software to explore and analyze unprecedented amounts of information — should be controversial at all. Haven’t we depended on it for years in our everyday lives? Haven’t credit card companies mined their vast records to prevent fraud by identifying suspicious purchase patterns? Don’t politicians of both parties analyze voting records down to the precinct level to identify opportunities for tipping elections? And don’t nearly all of us rely on Google and other search engines to exploit complex algorithms that identify the

Are Rising Health Care Costs
Creating a Retirement Crisis?
American Magazine, by Andrew G. Biggs    Original Article
Posted By: EagleBlurst- 7/28/2014 9:39:08 AM     Post Reply
It’s almost taken for granted that Americans are dramatically undersaving for retirement. Some headline-generating studies claim that half of Americans will fall short of what they need; others say it’s two-thirds or more. And, these studies claim, it gets even worse when we take rising health costs for retirees into account. Facing a seeming retirement crisis, progressives propose expensive expansions of Social Security, despite the program’s multi-trillion-dollar unfunded liabilities. In reality, though, the retirement crisis is overblown. And the claim that health costs mean we need to save dramatically more for retirement shows a misunderstanding of

No Free Lunch for the ECB
American Magazine, by Desmond Lachman    Original Article
Posted By: EagleBlurst- 7/25/2014 9:45:48 AM     Post Reply
Milton Friedman was fond of saying of economic policy choices that there was no such thing as a free lunch, meaning that an economic policy option that appears to offer an attractive choice in the short run usually has negative longer-run consequences that outweigh any advantages. Friedman’s observation certainly applies to the unprecedented expansion in the Federal Reserve and the Bank of Japan’s balance sheets over the past few years. While those expansions might have provided much-needed short-term support to the U.S. and Japanese economies, they have done so at the cost of creating bubble-like conditions

How Risky Is It to Be Uninsured?
American Magazine, by Christopher J. Conover    Original Article
Posted By: EagleBlurst- 7/23/2014 9:54:52 AM     Post Reply
In a recent survey, 48 percent of uninsured respondents did not plan on looking for information on the health insurance exchanges set up under the Affordable Care Act, or had not heard about them. Are uninsured people ignorant? Or might the poll reflect a well-reasoned choice? What are the actual risks associated with being uninsured? Lack of coverage may increase the odds of early death and slightly reduce everyday health status. Yet, at most, one year of being uninsured yields a loss of life expectancy of 16 healthy days of life (roughly equivalent to experiencing the foot problems

   

 

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Melodrama at the Met
American Magazine, by Rebecca Burgess    Original Article
Posted By: EagleBlurst- 7/21/2014 9:40:59 AM     Post Reply
With emotions reaching Wagnerian proportions, the storied Metropolitan Opera has arrived at the penultimate act of its latest melodramatic production: contract negotiations with the 16 unions currently holding sway over the 2,000-plus employees who bring each opera to life. The current labor contract expires on July 31, but as early as this past February, American Guild of Musical Artists Executive Director Alan Gordon was advising members to prepare for a lockout and a cancelled, or partially cancelled, 2014-2015 season. The leitmotif running through the labor discussions has been the possible death of the 130-year-old Metropolitan Opera.



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40 replie(s)
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Posted By: StormCnter- 8/17/2014 4:59:58 AM     Post Reply
They say a prosecutor could get a grand jury to indict a ham sandwich, and this always seemed like hyperbole, until Friday night a Texas grand jury announced an indictment of governor Rick Perry. The “crime” for which Perry faces a sentence of 5 to 99 years in prison is vetoing funding for a state agency. The conventions of reporting — which treat the fact of an indictment as the primary news, and its merit as a secondary analytic question — make it difficult for people reading the news to grasp just how farfetched this indictment is. Travis County District Attorney

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37 replie(s)
New York Post, by Paul Sperry    Original Article
Posted By: StormCnter- 8/17/2014 5:33:57 AM     Post Reply
The Obama administration has done little to calm racial tensions as they spread from Manhattan to St. Louis to Los Angeles. Quite the opposite, some top officials have fueled African-American fears of racism with false accusations of anti-black discrimination. Attorney General Eric Holder’s race-baiting is no secret. Justice Department documents show the nation’s top cop gave thousands of dollars to help the Rev. Al Sharpton organize marches protesting the death of Trayvon Martin. Now he’s sent the civil-rights unit to St. Louis to do the same thing in the fatal shooting of Michael Brown. Less known, however, is the role of Labor Secretary Thomas

NONE In The Back: Brown Autopsy
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35 replie(s)
Daily Caller, by Chuck Ross    Original Article
Posted By: JoniTx- 8/18/2014 12:36:50 AM     Post Reply
An autopsy conducted on Michael Brown, the unarmed 18-year-old fatally shot by Ferguson, Missouri, police officer Darren Wilson last Saturday, shows that Brown was shot at least six times, twice in the head and all in the front of the body. The New York Times reported the results of a private autopsy conducted by Dr. Michael Baden, who was hired by the Brown family. Baden conducted the autopsy on Sunday, according to the Times. One bullet entered the top of Brown’s skull. Four struck him in the right arm. All bullets hit Brown in the front of the body, according to

Shooting victim fighting for life
as police use tear gas to impose
curfew on defiant Ferguson protesters
who ignore lock-down seven
days after unarmed teenager*

34 replie(s)
Daily Mail (UK), by Daniel Bates    Original Article
Posted By: JoniTx- 8/17/2014 5:23:58 AM     Post Reply
One person was shot and seven people arrested early this morning as police used smoke and tear gas to impose a curfew following the killing of an unarmed black teenager. Officers are seeking the person who shot the critically-wounded victim after the 12am-5am curfew took hold in Ferguson, Missouri - eight days after Michael Brown, 18, was shot dead by police. Police said their strong response came after people broke into a restaurant and took position on the roof overlooking officers, while another man flashed a handgun as armoured vehicles approached. Some 200 defiant protesters remained on the streets of

   

 

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The Hidden Audio Of Mike Brown Shooting
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33 replie(s)
Conservative Treehouse, by Sundance    Original Article
Posted By: earlybird- 8/17/2014 7:01:44 PM     Post Reply
This is an update to the original outline we shared several days ago when we discovered the hidden audio of an eye witness to the Mike Brown and Darren Wilson shooting incident. After our initial discovery the local Ferguson Missouri investigative authorities were notified and very appreciative. Congratulations Treepers – once again the crowdsourcing and research shreds the national media narrative and removes the distorted lies putting the spotlight back on the truth. The local authorities in charge of the investigation extend their thanks and appreciation. Dozens of outlets have now copied the audio video. The story has been read in

Obama is driving Jews
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32 replie(s)
New York Post, by Michael Goodwin    Original Article
Posted By: FlyRight- 8/17/2014 8:49:19 AM     Post Reply
A ?friend who is conservative and ?Jewish asks a question: “Given ?Obama’s hostile treatment of ?Israel, isn’t it time for Jews to have their Ronald Reagan moment?” By that, he means when the Gipper said, “I didn’t leave the Democratic Party. The party left me.” Without doubt, the party under Barack Obama has left those Jews who view Israel’s security as threatened. Obama recently told a New York Times interviewer, “Because Israel is so capable militarily, I don’t worry about Israel’s survival.” That’s shocking, considering Iran’s threat to wipe Israel off the map once it gets nukes. And even as Obama spoke, the

Holder Orders Federal Autopsy on Brown
32 replie(s)
Daily Beast, by Staff    Original Article
Posted By: JoniTx- 8/17/2014 12:09:34 PM     Post Reply
Attorney General Eric Holder has ordered a federal autopsy on the body of Michael Brown. Department of Justice spokesman Brian Fallon said it will be performed at the request of Brown´s family in addition to the one conducted by the state. Fallon also said that the Department of Justice will still take into account the state-performed autopsy during its civil rights investigation of Brown´s murder. Last week, Holder announced the federal probe following protests and outrage over the murder of the unarmed black teenager in Ferguson, Missouri. Since the murder, the town has erupted into multiple police clashes. Despite a

McDonald’s franchisee says it
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27 replie(s)
Tampa Tribune, by Richard Mullins    Original Article
Posted By: Hazymac- 8/17/2014 1:37:14 PM     Post Reply
McDonald’s has a problem. For the first time in 10 years, the company generated less revenue in a month than it did a year before, and it’s not a blip. The world’s biggest burger chain has been posting lagging results for some time, particularly in the United States. Blake Casper says he has a very good idea why. “Companies like Chipotle are doing a great job talking to people about healthy food, and they’re changing the dynamic of how people eat,” said Casper, who owns Tampa Bay’s largest McDonald’s franchise group with his sister Allison Casper Adams. “We embrace that

Ferguson shooting: What´s
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25 replie(s)
Christian Science Monitor, by David Clark Scott    Original Article
Posted By: NorthernDog- 8/17/2014 6:07:15 PM     Post Reply
Was Michael Brown a "gentle giant," a cigar thief, or a gang member? The black teenager had no adult criminal record, according to the St. Louis County prosecutor. Initial media profiles noted that family and friends described "Big Mike" as not "the type to fight" and "funny, silly, he would make you laugh." (Snip) Michael Brown had struggled in school, but had graduated Aug. 1 from Normandy High School, and had been staying at his grandmother´s apartment in Ferguson this summer. Family members said that hre planned to start this past week at Vatterott Educational Centers, a vocational technical college,

   

 



 
Gregory got $4M to quietly leave NBC
24 replie(s)
New York Post, by Emily Smith    Original Article
Posted By: StormCnter- 8/17/2014 5:51:04 PM     Post Reply
Ousted “Meet the Press” anchor David Gregory was paid $4 million to leave NBC and signed a contract not to speak out against the network, sources told Page Six. Gregory, 43, who moderated the show for six years, was unceremoniously dumped from the political program on Thursday after dismal ratings and months of speculation about his departure. He has been replaced by NBC White House correspondent Chuck Todd. A source said Gregory’s contract extended into next year, so NBC had to pay him for the rest of the term, plus an extra fee to ensure his silence. In return, he was asked to sign

Even Liberals Think The
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22 replie(s)
Business Insider, by Colin Campbell    Original Article
Posted By: JoniTx- 8/16/2014 10:13:00 AM     Post Reply
Although some Democrats are calling for Texas. Gov Rick Perry´s (R) resignation after he was indicted by a grand jury on Friday, a number of left-leaning observers immediately panned the allegations as unimpressive. Perry, an expected presidential candidate in 2016, is accused of "abuse of official capacity" and "coercion of [a] public servant" by publicly threatening to zero out a state prosecutor´s funding and then actually doing it. Several pundits, including former Obama campaign strategist David Axelrod, Clinton and Obama administration alum Jonathan Prince, Vox´s Matt Yglesias, and New York magazine´s Jonathan Chait, wrote on Twitter they couldn´t see what

´America Is On Trial´:
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22 replie(s)
Business Insider, by Colin Campbell    Original Article
Posted By: NorthernDog- 8/17/2014 5:58:50 PM     Post Reply
Rev. Al Sharpton gave a passionate speech in St. Louis on Sunday morning, where he sharply criticized the release of video allegedly depicting Michael Brown, the black teen recently killed during a police encounter, robbing a convenience store before the fatal incident. "Michael Brown is gone. You can run whatever video you want. He is not on trial. America is on trial!" Sharpton declared at the Greater St. Marks Family Church, according to video posted by Fox 2. "I have never in all my years seen something as offensive and insulting as a police chief releasing a tape of a

   

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