Dueling Pot Billboards at the Stoner Bowl: Marijuana Is Safer vs. Marijuana Will Ruin Your Life

When teams from the two states that have legalized marijuana for
recreational use clash at Sunday’s Super Bowl, so will activists on
both sides of the debate about pot prohibition. The Marijuana
Policy Project (MPP) is
sponsoring
 five billboards near MetLife Stadium in East
Rutherford, New Jersey, where the Denver Broncos will face the
Seattle Seahawks. The anti-pot group Project SAM is
responding
with an ad that “will be placed on digital and vinyl
billboards throughout the New York-New Jersey area.”

Four of MPP’s
ads
are variations on the marijuana-is-safer theme that played
a conspicuous role in Colorado’s legalization campaign and was
recently
echoed
by President Obama. Two ads criticize the National
Football League’s anti-pot policy, showing generic players asking,
“Why does the league punish us for making the safer choice?” The
other two note that marijuana is safer than football as well as
alcohol. The fifth MPP ad shows a tally of attendance at the last
10 Super Bowls next to a tally of marijuana arrests in 2012 (about
750,000 in both cases).

How does Project SAM respond? It can’t very well deny that
marijuana is safer than alcohol, since its chairman
admitted
as much on national television last week. Nor can it
deny that pot prohibition generates hundreds of thousands of
arrests each year, the vast majority for simple possession. Here is
what the group came up with instead:

That’s right: Project SAM—which stands, believe it or not, for
Smart Approaches to Marijuana—is warning Americans about
amotivational syndrome. In 2014. The theme reflected in this
billboard was hoary when it was first applied to marijuana in the
1960s, having figured prominently in anti-cigarette
propaganda
 two decades before the federal ban on
marijuana, which before it was portrayed as a soporific that
renders people lethargic and unambitious was feared as a “killer
drug” that made them aggressive and irrationally violent.

I am not sure what target Project SAM had in mind when it
created this ad, but even kids are apt to smell the bullshit here.
After all,
many NFL players
use marijuana to relax or relieve aches and
pains, and it does not seem to have affected their motivation,
perseverance, or determination. It may even have helped. The

swimmer
who won more Olympic medals than any other athlete in
history was a pot smoker, for crying out loud. Nor did marijuana
prevent our last three presidents from ascending to the highest
political office in the land. MPP has a list
of various other high-achieving cannabis consumers, in case you are
curious.

Many people who are not celebrities also manage to consume
marijuana without losing in the game of life. Yet Project SAM is
still trying to persuade Americans that if they smoke pot it will
kill their drive and prevent them from accomplishing anything
worthwhile. In a country where most people born after World War II
have tried pot, it is hard to make this tired slacker stereotype
stick. But I guess it’s the best pot prohibitionists have to
offer.

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Attention New York Reasonoids: Sign Up Now For a Dynamite Reason Panel on India Next Tuesday

India watchers know that the country’s explosive economic growth
after it ended its daft autarkic policies and rolled back the
License Raj lifted nearly 300 million people out of poverty. The
country’s IT sector became the global outsourcing hub. And Indians
started harboring delusions of grandeur, talking loosely about
India becoming the nextindia.slum super power.

That was then.

Now, the country’s growth has plummeted to a mere 4 percent,
raising fears that India might be headed back to the days of the
dreaded Hindu rate of growth of 2 percent. Given that every one
percent drop in GPD growth consigns millions of Indians to poverty
– defined as living on $1.25 a day —jumpstarting India’s economic
miracle is not merely an academic question but a vital human
issue.

Given such stakes, it is no overstatement that national
elections this spring are the country’s most momentous since
Independence in 1947. The Congress Party, that formed a coalition
government in 2004, is facing a serious challenge from the
opposition Bharatiya Janata Party’s (BJP) Narenda Modi. Although
tainted by his failure to prevent a massacre of the minority Muslim
population in 2002 in the state of Gujarat, where he remains chief
minister, Modi’s promise to fix India’s abysmal infrastructure,
tackle its hidebound bureaucracy, attract foreign investment and
end affirmative action has made him the darling of business.

But a new threat emerged in the form of the Aam Adami Party
(literally: Ordinary Man’s Party) in the state assembly elections
in December. AAP’s leader, Arvind Kejriwal, a political neophyte,
ran a populist campaign promising relief from inflation and rampant
corruption of the established parties, riding to victory in New
Delhi.

But do any of the parties or candidates have what it takes to
reignite India’s economy? Are they campaigning on the right issues?
Will this election produce a government that can fix India’s broken
governing institutions and restart its economic miracle? Will any
party gain the moral authority to enact the next wave of
liberalization? Or will the elections produce more political
fragmentation with no political party obtaining a clear mandate to
enact a bold reform agenda?

These are the questions that Reason Foundation plans to address
at a panel it is co-sponsoring with Asia Society and the South
Asian Journalists Association on Feb. 4, Tuesday, 6.30 p.m., at the
Asia Society’s Park Avenue premises. I’ll moderate a stellar lineup
that includes American Enterprise Insitute’s Sadanand Dhume, a
Wall Street Journal columnist, Arvind Panagariya, a
Columbia University economist who has co-authored several books
with the inimitable Jagdish Bhagwati (and Amartarya Sen’s nemesis)
whom reason.tv interviewed here,
and Carnegie Endowment’s Milan Vaishnav.

Reason still has a few complimentary tickets to give away that
you can get if you rush to this
website
and register now.

Bonus material: My column on the
noxious
Narendra Modi and why India ain’t going to catch up with the
West any time soon.

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Lunches Seized and Tossed in Trash at Salt Lake City Elementary School for Kids with Unpaid Balances

While I understand the need for parents to pay for their children’s lunches, what do you think the appropriate response should be by adults running an elementary school upon realizing that some young children with unpaid balances had already been served a full hot meal?

Personally, I would assume that any reasonable human being would allow the children to eat the lunches while at the same time calling up their parents to sort out the problem. However, that’s not the action deemed appropriate by the “child-nutrition manager” that visited Uintah Elementary in Salt Lake City this past Tuesday. Nope, this person decided that the best course of action was to seize already served lunches and throw them in the trash in front of the victim’s classmates. Mind you, this person is called a “child-nutrition manager.” So someone in charge of “child nutrition” thinks he or she is doing their job by ensuring malnourishment due to unpaid balances.

Next stop for these kids, debtors prison, which are making a comeback in the U.S. by the way. Disgraceful.

From the Salt Lake Tribune:

Up to 40 kids at Uintah Elementary in Salt Lake City picked up their lunches Tuesday, then watched as the meals were taken and thrown away because of outstanding balances on their accounts — a move that shocked and angered parents.

“It was pretty traumatic and humiliating,” said Erica Lukes, whose 11-year-old daughter had her cafeteria lunch taken from her as she stood in line Tuesday at Uintah Elementary School, 1571 E. 1300 South.

Lukes said as far as she knew, she was all paid up. “I think it’s despicable,” she said. “These are young children that shouldn’t be punished or humiliated for something the parents obviously need to clear up.”

Jason Olsen, a Salt Lake City District spokesman, said the district’s child-nutrition department became aware that Uintah had a large number of students who owed money for lunches.

Better call the FBI, after all, it’s not as if there are bankers stealing billions or anything…

As a result, the child-nutrition manager visited the school and decided to withhold lunches to deal with the issue, he said.

continue reading

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Presenting The US&PJPY 500

EM is fixed? Fed will un-Taper? Earnings will recover? Money on the sidelines? We’ve heard it all this morning as why stocks are recovering modestly… the real fun-durr-mental reason, of course, is in the chart below: behold the US&PJPY or, alternatively, USDSPY.

Still think it’s a market of stocks?

 

Or just a marginal-liquidity JPY-carry-fueled ponzi?

One good thing to come out of this centrally-planned abortion: instead of 8 monitors to follow “stuff” traders now just need one small screen to track the USDJPY – that shows everything you could possibly ever need.


    



via Zero Hedge http://ift.tt/1bCePMC Tyler Durden

Presenting The US&PJPY 500

EM is fixed? Fed will un-Taper? Earnings will recover? Money on the sidelines? We’ve heard it all this morning as why stocks are recovering modestly… the real fun-durr-mental reason, of course, is in the chart below: behold the US&PJPY or, alternatively, USDSPY.

Still think it’s a market of stocks?

 

Or just a marginal-liquidity JPY-carry-fueled ponzi?

One good thing to come out of this centrally-planned abortion: instead of 8 monitors to follow “stuff” traders now just need one small screen to track the USDJPY – that shows everything you could possibly ever need.


    



via Zero Hedge http://ift.tt/1bCePMC Tyler Durden

Small Tail In Today's Auction Of $35 Billion In 5 Year Paper

Hardly as memorable as yesterday’s historic launch of Floating Rate Notes, today’s 5 year auction in which the Treasury sold $35 billion in paper was a snoozer, and despite fears of a blow out following recent concerns about demand in the bucket following recent revulsion to 5 Years, priced at 1.572%, tailing the When Issued  1.57% modestly, however with a lower yield than last month’s 1.6. The Bid to Cover also posted a modest increase from December’s 2.42 up to 2.59, even if the general BTC trend continues to be one broadly lower. Within the internals the only notable item was the spike in Indirects, which took down 44.6% of the allocation, up from 24.8%, leaving 10.7% to the Directs and 44.7% to Dealers. Overall, nothing to write home about.


    



via Zero Hedge http://ift.tt/1nqMQYr Tyler Durden

Small Tail In Today’s Auction Of $35 Billion In 5 Year Paper

Hardly as memorable as yesterday’s historic launch of Floating Rate Notes, today’s 5 year auction in which the Treasury sold $35 billion in paper was a snoozer, and despite fears of a blow out following recent concerns about demand in the bucket following recent revulsion to 5 Years, priced at 1.572%, tailing the When Issued  1.57% modestly, however with a lower yield than last month’s 1.6. The Bid to Cover also posted a modest increase from December’s 2.42 up to 2.59, even if the general BTC trend continues to be one broadly lower. Within the internals the only notable item was the spike in Indirects, which took down 44.6% of the allocation, up from 24.8%, leaving 10.7% to the Directs and 44.7% to Dealers. Overall, nothing to write home about.


    



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Steve Chapman Says the No-Fly List Took a Hit

AirlinerAmericans
have always treasured the freedom to pick up and go anywhere they
please. Our forebears had to travel to get here, often had to
travel more after they arrived and sometimes moved on to uncharted
territories out West only to return East. No one stopped them,
whatever direction they were going. They had the good fortune to
live and migrate before the creation of the all-encompassing
national security state. After the 9/11 attacks, Americans woke up
to find that their freedom to travel was not a fundamental right
but a vaporous privilege, bestowed by the government and revocable
at its whim. For more than a decade, writes Steve Chapman, the
federal government assumed it could consign thousands of Americans
to travel purgatory without justifying itself to anyone. But the
no-fly list as currently administered may be headed for its final
approach.

View this article.

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Dear Twitter-Based Newsletter Sellers: The SEC Is After You

Now that Twitter is officially the second coming of Yahoo Finance message boards, the inundation with offers from clueless hacks who have nothing better to do than sell you $29.95 newsletters with guaranteed get rich quick schemes (one has to be so grateful for this boundless supply of noble humanitarians who would rather see you get rich than follow their own advice, and invest with their own capital), even more guaranteed than Obama’s MyRA ponzi scheme, has hit off the charts levels. However, there is some hope this is ending, and the regulators, as usual 3-5 years behind the curve – are finally be cracking down on these self-acclaimed financial Nostradami following an announcement today that the SEC “charged a New York-based money manager and his firm with making false claims through Twitter, newsletters, and other communications about the success of their investment advice and a mutual fund they manage.

And while this description would fit roughly half the people who can’t wait to share their copious financial “advise” on the social network (for a modest fee) in this specific case, the SEC was targeting Mark A. Grimaldi and Navigator Money Management (NMM), whom it found that they selectively touted the past performance of the Sector Rotation Fund (NAVFX) and specific securities recommendations they made to clients.  They cherry-picked highlights but ignored less favorable recommendations and other data that would have made the facts complete.”

The SEC’s order finds that Grimaldi also made misleading statements on Twitter.  He claimed responsibility for model portfolios in his newsletters that “doubled the S&P 500 the last 10 years.”  However, Grimaldi made the claim even though he had no involvement in the model portfolio performance for the first three years.

Once again: a description that covers pretty much everyone seeking to retain new clients on “we-only-win-here” Twitter.

Grimaldi agreed to pay a penalty of $100,000, and he and the firm agreed to be censured and comply with certain undertakings including the retention of an independent compliance consultant for three years.  Without admitting or denying the SEC’s findings, NMM and Grimaldi are required to cease and desist from future violations of these sections of the securities laws.

No more Twitter-touting for him. But the worst news for all newsletter peddlers: “SEC exam staff notified NMM that the newsletters could be considered advertisements under Rule 206(4)-1, which generally prohibits false or misleading advertisements by investment advisers.” This supposedly also includes his false and misleading tweets, which considering Twitter is a public venue, pretty much guarantee anyone who has been touting their performance is now SEC-fodder.

From the full SEC charge:

“The securities laws require investment advisers to be honest and fully forthcoming in their advertising to give investors the full picture,” said Sanjay Wadhwa, senior associate director for enforcement in the SEC’s New York Regional Office.  “Grimaldi and his firm are being held accountable for using social media and widely disseminated newsletters to cherry-pick information and make misleading claims about their success in an effort to attract more business.”

 

According to the SEC’s order, Grimaldi is majority owner, president, and chief compliance officer at NMM, which is based in Wappingers Falls, N.Y.  Grimaldi particularly used a newsletter called The Money Navigator to solicit clients for NMM and investors for the Sector Rotation Fund.  The Money Navigator had more than 60,000 subscribers.  In 2008, the SEC conducted an examination of NMM and a fund it managed.  SEC exam staff notified NMM that the newsletters could be considered advertisements under Rule 206(4)-1, which generally prohibits false or misleading advertisements by investment advisers.  SEC staff also noted that the newsletters could be considered advertisements under Rule 482, which governs advertisements for mutual funds and other investment companies and has specific requirements for ads containing performance data.

 

The SEC’s order details several misleading advertisements made by NMM and Grimaldi in newsletters following that SEC examination.  For example, they misleadingly claimed in a December 2011 newsletter that Sector Rotation Fund was “ranked number 1 out of 375 World Allocation funds tracked by Morningstar.”  However, a time period of Oct. 13, 2010 to Oct. 12, 2011 was cherry-picked to broadly acclaim that ranking, and Sector Rotation Fund had a poorer relative performance during other time periods.  From Jan. 1 to Nov. 30, 2011, the day before Grimaldi published the ad, at least 100 other mutual funds in that same Morningstar category outperformed Sector Rotation Fund.

And the full filing:


    



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LAPD Framed 24-Year-Old For Murder, Lawsuit Alleges

new professionalism, hthThe LAPD is facing a lawsuit from Roy
Galvan, a 24-year-old father who spent more than a year in jail
before being tried and acquitted for a murder he says the LAPD
tried to frame him for.
Via NBC Los Angeles
:

[The lawsuit] accuses LAPD Officers Miguel Terrazas,
David Nunn and Richard Arciniega of destroying evidence in the
case, falsifying reports and bribing witnesses for statements,
false arrest and malicious prosecution, among other claims of
misconduct and civil rights violations…

Galvan claims the officers who took him to trial strong-armed,
bribed and refused to investigate “several” potential witnesses,
including two homeless people – Mark Loving and Syrella Carpenter,
who had paranoid schizophrenia – living in a tent near the shooting
scene.

The lawsuit alleges Loving and Carpenter were paid nearly
$10,000 for their false testimony, and that the police requests for
city checks for the two were submitted into evidence during
Galvan’s trial. Other witnesses were allegedly promised they would
not face deportation if they provided false testimony. The lawsuit
also claims other eyewitnesses fingered a different suspect, but
that cops did not interview him.

The police officers named in the lawsuit appear to remain with
the LAPD. You can read the entire complaint here
(pdf), via NBC.

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