Chris Christie Throws His Weight Behind Donald Trump Campaign

ChristieSens. Marco Rubio and Ted Cruz went hard as hell against Donald Trump last night, calling him out for everything from hiring illegal immigrants to being sued over his “Trump University” real estate training programs. Rubio kept at it this morning, mocking Trump by reading his misspelled, mangled tweets out loud at a rally in Texas.

But never let it be said that Trump isn’t a quick thinker. He came out with a press conference in Texas joined by New Jersey Gov. Chris Christie, whose own attempt to run for president ended in New Hampshire after he failed to catch fire with the electorate. He was there to endorse Trump for president:

“He’s been my friend for many years, he’s been a spectacular governor,” said Mr. Trump, standing with Mr. Christie at a press conference in Fort Worth, Texas, for the announcement.

“I am proud to be here to endorse Donald Trump,” said Mr. Christie, noting they have been friends for a decade.

Mr. Trump “will do exactly what needs to be done to make America a leader around the world again,” said Mr. Christie.

Via The New York Times.

It probably shouldn’t come as too much of a surprise, given that both men are bombastic authoritarians who think their charisma can paper over shortcomings of their policies (Christie was wrong, but we can’t yet say the same for Trump). Christie’s debate shtick was to look directly into the camera to seem more personable and to interrupt any actual discussion of policy by the candidates who were also senators to complain about them just “talking” about issues and not actually doing anything. The last thing he did of note in the race was to get Rubio some negative attention by pointing out Rubio’s tendency to keep repeating talking points (which Rubio has clearly learned from and used it against Trump just last night).

For libertarian conservatives Christie has been a non-starter with terrible positions on surveillance, military intervention, and medical marijuana. He and Sen. Rand Paul attacked each other when the two men were on stage together.  

from Hit & Run http://ift.tt/1QitofY
via IFTTT

Being Establishment Means Never Having to Say You’re Sorry for Regime Change in the Name of ‘Stability’

We're ALL John Kasich now! ||| Cinema ScopeWhile campaigning endlessly (and successfully!) in New Hampshire, Ohio Gov. John Kasich, the media-christened “moderate” with the spectacularly interventionist foreign policy agenda, began floating the idea of “regime change” in Stalinist North Korea. “What do we do to try to foster that?” he mused on at least one occasion. This on top of Kasich’s plans to go “massively” with a land war against ISIS, removing Syrian dictator Bashar al-Assad, and enforcing a no-fly zone over Syria against Russia, for starters.

At last night’s GOP presidential debate, CNN moderator Wolf Blitzer asked Kasich a sensible follow-up question: “[T]he commander of American forces in South Korea said that North Korean leader Kim Jong Un would use a weapon of mass destruction if he thought his regime was being threatened. You have said the United States should start examining a strategy of regime change in North Korea. Let’s be clear. Are you talking about getting rid of Kim Jong Un?”

Note that Blitzer was calling both for clarity of position, and engagement with the concern that trying to topple the murderous millennial would provoke a nuclear war. Kasich’s initial answer was a tautological beaut: “When you talk about regime change, Wolf, it means regime change. That’s what it means.” Thanks for clearing that up.

Ol’ Hand-Paddles then quickly detoured into intercepting ships and aircraft, tightening sanctions, arming NoKo’s neighbors, pressuring the Chinese and so forth, before cycling back and insisting now that “regime change” maybe doesn’t have a plain English meaning after all:

[W]hen I say regime change, I don’t have to talk exactly what that means. Look, I’ve been involved in national security for a long time; you don’t have to spell everything out. But what I’m telling you is you look for any means you can to be able to solve that problem in North Korea, and in the meantime put the pressure on the Chinese….They are the key to being able to settle this situation.

Blitzer pressed on: “Would you risk war for a regime change?”

When opportunity's rockin', don't bother knockin'! ||| The InterviewKasich responded with perhaps the craziest line in a debate full of ’em:

Wolf, again, it would depend exactly what, you know, what was happening; what the situation was. But if there was an opportunity to remove the leader of North Korea and create stability? Because, I’ll tell you, you keep kicking the can down the road we’re going to face this sooner or later.

But in the meantime, I’m also aware of the fact that there’s 10 million people living in Seoul, so you don’t just run around making charges. I have put it on the table that I would love to see regime change in North Korea.

Now, perhaps the Chinese can actually accomplish that with this man who is now currently the leader, but the fact is we have to bring everything to bear. We have to be firm, and we’ve got to unite those people in that part of the world to stand firmly against North Korea, and make sure we have the ballistic missile technology to defend ourselves.

Set aside all the incoherence and self-contradiction here—the Chinese can maybe accomplish regime change in conjunction with North Korea’s current leader?—and instead focus on that one bolded line. John Kasich is suggesting, after 15 years of chaos in the wake of U.S.-led regime changes around the globe, that this time when we decapitate the dictatorial government of a lousy country it will finally produce that long-lost unicorn of stability. Sorry, Lindsey Graham, there’s your “batshit crazy.”

Last night, as in most every GOP debate (except that Chris Christie one), the media declared Marco Rubio the winner. This time it was even true! But an underacknowledged reason why political journalists feel more comfortable with the guy is that he speaks their language: policy fluency, grown-up concerns about long-term fiscal choices, a convincing-for-the-genre rap about the American Dream, and an alleged Seriousness about foreign policy. And make no mistake—what comprises that seriousness is equal parts surfacely impressive knowledge about a variety of global hotspots, and just straight-up, unrestrained hawkishness. It’s true of Rubio, it’s true of Lindsey Graham, it’s true of everyone else who has run for president in the establishment lane. Including the last Rubio-competitor standing there, John Kasich.

Wanna impress your journalist friends? Learn how to pronounce the various exotic factions you intend to either arm or bomb. Exaggerate threats constantly, re-write your own disastrous foreign policy preferences as need be. It’s not like they’re gonna check! Not as long as you remember to keep reminding them that you’re not one of those crazy people, from or popular among the conservative grassroots, who are fed up in a less-than-perfectly-fluent way with America’s never-resolving wars.

The State newspaper in Columbia, South Carolina, when endorsing Kasich ahead of his thrilling fourth-place, 7.6 percent finish in the Palmetto State, fell for the he’s-not-crazy act hook, line and sinker:

He refuses to pander to those upset about our nation’s leadership. Rather than turning Americans’ concerns into anger, he prefers to be positive. The United States fundamentally is in great shape, he says, although the country has problems. He believes those can be solved with proper leadership that includes listening, educating, and working with both Democrats and Republicans.

He’s not angry, he just wants to carry out regime change all over the globe in the name of “stability,” silly! This, at long last, is what America’s political class considers “moderate.”

from Hit & Run http://ift.tt/24tdwgJ
via IFTTT

Chris Christie Endorses Donald Trump For President – Live Feed

In what is clearly a play for Vice-President, Fox News reports:

  • *CHRIS CHRISTIE ENDORSES DONALD TRUMP FOR PRESIDENT

The establishment is coming out of denial.

Christie speaks…

“I can guarantee you that the one person Hillary Clinton does not want to see on that stage come September, is Donald Trump”

 

“The best person to beat Hillary Clinton on that stage is undoubtedly Donald Trump”

 

“There is no one who is better prepared to provide America with a strong leadership

 

“No one will get inside this guy’s head”

 

“There is no better fighter than Donald Trump”

From this…

 

to this…Running mate?

 

Live feed:


via Zero Hedge http://ift.tt/1UoVF6j Tyler Durden

Caught On Tape: U.S. Test Fires Nuclear ICBM, Warns “We Are Prepared To Use Nuclear Weapons”

Less than two years ago, news of Russia test-firing an ICBM just as the east Ukraine civil war was heating up, was sufficient to send the stock market into a brief tailspin. Since then, the launches of nuclear-tipped intercontinental ballistic missiles has become an almost daily occurrence, with the market hardly batting an eyelid.

In fact, it happened just last night at 11:01pm PST at Vandenberg Air Force Base in California, where – for the second time this week – the US test-fired its second intercontinental ballistic missile in the past seven days, seeking to demonstrate its nuclear arms capacity at a time of rising strategic tensions with Russia, North Korea, China and the middle east.

The unarmed Minuteman III missile roared out of a silo at Vandenberg Air Force Base in California late at night, raced across the sky at speeds of up to 15,000 mph (24,000 kph) and landed a half hour later in a target area 4,200 miles (6,500 km) away near Kwajalein Atoll in the Marshall Islands of the South Pacific.

The entire launch was caught on the following video, which was released by Vandenberg just 4 days after the previous ICBM launch.

 

What was more disturbing than the actual launch, however, was the rhetoric behind it: instead of passing it off as another routine test, and letting US “adversaries” make up their own mind about what is going on, Deputy Defense Secretary Robert Work, who witnessed the launch, said the U.S. tests, conducted at least 15 times since January 2011, send a message to strategic rivals like Russia, China and North Korea that Washington has an effective nuclear arsenal. “That’s exactly why we do this,” Work told reporters before the launch.

Of course, the #1 unspoken rule when launching ICBMs is to never explicitly say why you are doing it. By breaking said rule, it marks a much greater escalation in international diplomacy than merely test firing the nuclear-capable ballistic missile.

That, however, was not an issue and Work piled on, with the following stunner

“We and the Russians and the Chinese routinely do test shots to prove that the operational missiles that we have are reliable. And that is a signal … that we are prepared to use nuclear weapons in defense of our country if necessary.

Well that’s good to know.

As Reuters adds, demonstrating the reliability of the nuclear force has taken on additional importance recently because the U.S. arsenal is near the end of its useful life and a spate of scandals in the nuclear force two years ago raised readiness questions.

The Defense Department has poured millions of dollars into improving conditions for troops responsible for staffing and maintaining the nuclear systems. The administration also is putting more focus on upgrading the weapons.

 

President Barack Obama’s final defense budget unveiled this month calls for a $1.8 billion hike in nuclear arms spending to overhaul the country’s aging nuclear bombers, missiles, submarines and other systems.

That said, the irony of the Nobel Peace Prize winner re-escalating the arms race was not lost on Reuters: the nuclear spending boost is an ironic turn for a president who made reducing U.S. dependence on atomic weapons a centerpiece of his agenda during his first years in office.

Obama called for a world eventually free of nuclear arms in a speech in Prague and later reached a new strategic weapons treaty with Russia. He received the Nobel Peace Prize in part based on his stance on reducing atomic arms.  “He was going to de-emphasize the role of nuclear weapons in U.S. national security policy … but in fact in the last few years he has emphasized new spending,” said John Isaacs of the Council for a Livable World, an arms control advocacy group.

Perhaps the Nobel committee should watch the video above and decide if it is not too late to ask for their prize back.

And just like that the nuclear arms race is back.

Critics say the Pentagon’s plans are unaffordable and unnecessary because it intends to build a force capable of deploying the 1,550 warheads permitted under the New START treaty… Hans Kristensen, an analyst at the Federation of American Scientists, said the Pentagon’s costly “all-of-the-above” effort to rebuild all its nuclear systems was a “train wreck that everybody can see is coming.” Kingston Reif of the Arms Control Association, said the plans were “divorced from reality.”

 

The Pentagon could save billions by building a more modest force that would delay the new long-range bomber, cancel the new air launched cruise missile and construct fewer ballistic submarines, arms control advocates said.

 

Work said the Pentagon understood the financial problem. The department would need $18 billion a year between 2021 and 2035 for its portion of the nuclear modernization, which is coming at the same time as a huge “bow wave” of spending on conventional ships and aircraft, he said.

 

“If it becomes clear that it’s too expensive, then it’s going to be up to our national leaders to debate” the issue, Work said, something that could take place during the next administration when spending pressures can no longer be ignored.

As a reminder, the last time the U.S. engaged in a nuclear arms race with the USSR, it led to the collapse of the “evil empire.” It would be even more ironic that Obama launching nuclear rockets if this time around the tables on the ultimate loser are turned.

In the meantime, just think of all the GDP-boosting “broken windows” that would result from a nuclear war.


via Zero Hedge http://ift.tt/1OAXm9y Tyler Durden

No One’s Going to Be Honest About Libya

In a way, the mainstream debate over Libya is sort of like an exercise in avoiding the passive voice. The Libyan government collapsed. Weapons spread from Nigeria to Syria. People died. You’ve got your subject and verb, and little about actual responsibility.

“We didn’t topple Qaddafi,” Marco Rubio said at last night’s CNN Republican debate, referring to the ruler of Libya until a U.S.-backed intervention in the Libyan civil war. “The Libyan people toppled Qaddafi.”

The only choice for President Obama, according to Rubio, was whether it was going to “happen quickly” or “take a long time.” Qaddafi was caught by Libyan rebels, with U.S. air support, sodomized and killed five months after the NATO intervention started. That delay (in getting the people of Libya to topple Qaddafi) Rubio said was where “‘leading from behind’ came from”.

Of course, the Arab spring-turned-civil war in Libya started around the same time as the one in Syria, where the dictator Bashar Assad is still clinging to power. The U.S., and U.S.-backed rebels on multiple sides of the conflict, insist he must go.

Libya came up last night, actually, in an answer from Ted Cruz about the ceasefire arranged for Syria by the U.S. and Russia, to go in effect at midnight (5pm ET) tonight in Damascus. The ceasefire is an opt-in for the warring parties on the ground.

Cruz said there was “reason to be skeptical” about the ceasefire because of Russia’s strengthened position due to “Obama’s weakness in the Middle East.”

Cruz argued only he could “lay out a clear difference” between himself and Hillary Clinton. “So for example, in Libya, both of them agreed with the Obama/Clinton policy of toppling the government in Libya,” Cruz said. “That was a disaster. It gave the country over to radical Islamic terrorism and it endangered America.”

But he didn’t explain how his approach to Libya (making sand glow?) would be different or yield different results. Instead, he moved on to calling John Kerry “the most anti-Israel secretary of state this country has ever seen.”

Donald Trump denied he supported toppling the Qaddafi government. Cruz said he would post evidence later, but didn’t offer it at the debate.

Trump supported U.S. intervention to remove Qaddafi in a 2011 video blog, saying it would be “very easy and very quick.”

We could do it surgically, stop him from doing it, and save these lives,” Trump said in 2011. “This is absolutely nuts. We don’t want to get involved and you’re gonna end up with something like you’ve never seen before.”

Arguably, Syria fits that description, but I wouldn’t expect Trump to pick up on that “told you so” moment. Would he take Rubio’s route, and say it should have been done even faster and more surgically?

John Kasich, another Republican candidate for president, did bring up Syria in his answer.

“Libya didn’t go down because there was some people revolution,” Kasich said. “Hillary Clinton, Samantha Power and all these other people convinced the president to undermine Gadhafi. They undermined him, and now they have created a cesspool in Libya.”

Now, Kasich argued, the U.S. was “gonna have to deal with” it, referring to the rise of the Islamic State (ISIS) in Libya. “Then we have ISIS in Syria, and we have ISIS in Iraq,” he continued. “Because this administration has not had a strong and firm foreign policy, we are going to inherit, one of us here is going to inherit a total mess.”

There was, of course, some kind of revolution in Libya, but Clinton and other liberal interventionists, like Samantha Power, did convince Obama to go along with calls from the United Nations, the European Union, and the Arab League to act in Libya. Members of Congress, including Rubio and Cruz, didn’t do anything to asset their authority in the war decision-making process.

And how would a “strong and firm foreign policy” in Syria look different than Western action in Libya 2011? Topple Assad even faster? Kasich brought up Iraq too: the remaining Republicans candidates (who have something resembling policy ideas) argue that the U.S. should have remained in Iraq, which would have prevented the rise of ISIS, their way of shifting the blame from the U.S. intervention in Iraq in the first place.

Yet they also argue, as in last night’s debate, that a (2011) intervention in Syria could’ve thwarted the rise of “radical Islamic terrorism” in that country. Yet an intervention in Libya in 2011 only helped ISIS eventually “gain a foothold” in that country. Ah, but Qaddafi was not removed quickly enough. There’s no evidence the political aftermath would look much different with a few extra months of a political vacuum. Would the entire Middle East have to be occupied to prevent the rise of ISIS?

For her part, at this week’s Democratic town hall Clinton touted the intervention in Libya as “the first coalition between NATO and Arab nations” and the kind of experience that qualifies her to be president. She expresses optimism about the political process in Libya, where they “actually held elections” and “elected moderates.”

She mentioned “challenges internally coming from the outside with terrorist groups and other bad actors.” Col. Qaddafi claimed in 2011 that Al-Qaeda would overrun Libya, saying the radical Islamists were backing many of the emerging rebels.

Clinton also blamed “internal disputes” on the continuing conflict in Libya (there are two rival governments vying for power), and said she supported current U.S. actions against ISIS in Libya. She said Libya had a “good election” and pivoted to pointing out the U.S. still had troops in places like South Korea and Germany—a similar argument to the one John McCain used in 2008 to defend keeping U.S. troops in Iraq.

Meanwhile, President Obama this week informed Congress the declaration of a “national emergency with respect to Libya” first issued five years ago would continue.

The notice repeated that the “unusual and extraordinary threat to the national security and foreign policy of the United States constituted by the actions of Colonel Muammar Qadhafi, his government, and close associates” against the people of Libya as well as the risk that he and his associates would “misappropriate” Libyan state assets necessitated the “national emergency.”

“The situation in Libya continues to pose an unusual and extraordinary threat to the national security and foreign policy of the United States,” the president’s notice read, “and we need to protect against the diversion of assets or other abuse by certain members of Qadhafi’s family and other former regime officials.”

from Hit & Run http://ift.tt/1n1QADr
via IFTTT

Economic Recovery? 13 Of The Biggest Retailers In America Are Closing Down Stores

Submitted by Michael Snyder via The Economic Collapse blog,

Barack Obama recently stated that anyone that is claiming that America’s economy is in decline is “peddling fiction“.  Well, if the economy is in such great shape, why are major retailers shutting down hundreds of stores all over the country?

Last month, I wrote about the “retail apocalypse” that is sweeping the nation, but since then it has gotten even worse.  Closing stores has become the “hot new trend” in the retail world, and “space available” signs are going up in mall windows all over the United States.  Barack Obama can continue huffing and puffing about how well the middle class is doing all he wants, but the truth is that the cold, hard numbers that retailers are reporting tell an entirely different story.

Earlier today, Sears Chairman Eddie Lampert released a letter to shareholders that was filled with all kinds of bad news.  In this letter, he blamed the horrible results that Sears has been experiencing lately on “tectonic shifts” in consumer spending

In a letter to shareholders on Thursday, Lampert said the impact of “tectonic shifts” in consumer spending has spread more broadly in the last year to retailers “that had previously proven to be relatively immune to such shifts.”

 

“Walmart, Nordstrom, Macy’s, Staples, Whole Foods and many others have felt the impact of disruptive changes from online competition and new business models,” Lampert wrote.

And it is very true – Sears is doing horribly, but they are far from alone.  The following are 13 major retailers that are closing down stores…

#1 Sears lost 580 million dollars in the fourth quarter of 2015 alone, and they are scheduled to close at least 50 more “unprofitable stores” by the end of this year.

#2 It is being reported that Sports Authority will file for bankruptcy in March.  Some news reports have indicated that around 200 stores may close, but at this point it is not known how many of their 450 stores will be able to stay open.

#3 For decades, Kohl’s has been growing aggressively, but now it plans to shutter 18 stores in 2016.

#4 Target has just finished closing 13 stores in the United States.

#5 Best Buy closed 30 stores last year, and it says that more store closings are likely in the months to come.

#6 Office Depot plans to close a total of 400 stores by the end of 2016.

The next seven examples come from one of my previous articles

#7 Wal-Mart is closing 269 stores, including 154 inside the United States.

#8 K-Mart is closing down more than two dozen stores over the next several months.

#9 J.C. Penney will be permanently shutting down 47 more stores after closing a total of 40 stores in 2015.

#10 Macy’s has decided that it needs to shutter 36 stores and lay off approximately 2,500 employees.

#11 The Gap is in the process of closing 175 stores in North America.

#12 Aeropostale is in the process of closing 84 stores all across America.

#13 Finish Line has announced that 150 stores will be shutting down over the next few years.

These store closings can be particularly cruel for small towns.  Just consider the impact that Wal-Mart has had on the little town of Oriental, North Carolina

The Town’n Country grocery in Oriental, North Carolina, a local fixture for 44 years, closed its doors in October after a Wal-Mart store opened for business. Now, three months later — and less than two years after Wal-Mart arrived — the retail giant is pulling up stakes, leaving the community with no grocery store and no pharmacy.

 

Though mom-and-pop stores have steadily disappeared across the American landscape over the past three decades as the mega chain methodically expanded, there was at least always a Wal-Mart left behind to replace them. Now the Wal-Marts are disappearing, too.

Of course there are many factors involved in this ongoing retail apocalypse.  Competition from online retailers is becoming more intense, and consumer spending patterns are rapidly changing.

But in the end, the truth is that you can’t get blood out of a rock.  The middle class in America is shrinking, and there just isn’t as much discretionary spending going on as there used to be.

And now that we have entered a new economic downturn, many retailers are finding that there are some local communities that can no longer support their stores.  The following comes from CNBC

Though the shift to online shopping is no doubt playing a role in lighter foot traffic at malls, there’s more to their changing economics than the rise of Amazon. Changing demographics in a town are another reason a shopping center could struggle or fail — for example, if massive layoffs in a particular industry cause people to move away to find employment.

 

“A lot of people want to try and tie it to the Internet or ‘that’s not cool,’ or teens don’t like it,” Jesse Tron, a spokesman for industry trade group International Council of Shopping Centers, told CNBC last year. “It’s hard to support large-format retail in those suburban areas when people are trying to just pay their mortgage.”

In order to have a thriving middle class, we need good paying middle class jobs.  Unfortunately, our economy has been bleeding those kinds of jobs quite rapidly.  For example, Halliburton just announced that it is eliminating 5,000 more jobs after getting rid of 4,000 workers at the end of last year.

During the Obama years, good paying middle class jobs have been getting replaced by low paying service jobs.  At this point, 51 percent of all American workers make less than $30,000 a year.

And there is no way that you can support a middle class family with children on $30,000 a year.

We have an economy that is in the process of failing.  We can see it in the explosion of subprime auto loans that are going bad, we can see it in the hundreds of retail stores that are shutting down, and we can see it in the tens of thousands of good paying energy jobs that are being lost.

During the Obama years, interest rates have been pushed to the floor, the Federal Reserve has created trillions of dollars out of thin air, and the size of our national debt is getting close to doubling.  Despite all of those desperate measures, our economy continues to crumble.

We stole from the future to try to paper over our failures and it didn’t work.  Now an economic downturn that will ultimately turn out to be even worse than the “Great Recession” of 2008 and 2009 has begun, and our leaders have absolutely no idea how to fix things.

I wish I had better news to report, but I don’t.  Get prepared now, because very rough times are ahead.


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

BREAKING: US government releases its 2015 financial statements

Hot off the presses, the US government just published its audited financial statements this morning, signed and sealed by Treasury Secretary Jack Lew.

These reports are intended provide an accurate accounting of government finances, just like any big corporation would do.

And once again, the US government’s financial condition has declined significantly from the previous year.

For 2015, the government reports $3.2 trillion in total assets.

This includes everything from financial assets like bank balances to physical assets like tanks, bullets, aircraft carriers, and the federal highway system.

Curiously, the single biggest line item amongst these listed assets is the $1.2 trillion in student loans that are owed to the government by the young people of America.

This is pretty extraordinary when you think about it.

37% of the government’s total reported assets are student loans, which is now considered one of the most precarious bubbles in finance.

$1.2 trillion is similar to the size of the subprime mortgage market back in 2008. And delinquency rates are rising, now at 11.5% according to Federal Reserve data.

Plus, it’s simply astonishing that so much of the federal government’s asset base is tantamount to indentured servitude as young people pay off expensive university degrees that barely land them jobs making coffee at Starbucks.

On the other side of the equation are a reported $21.5 trillion in liabilities, giving the government an official net worth of negative $18.2 trillion.

This is down from last year’s negative $17.7 trillion and $16.9 trillion the year prior. It just keeps getting worse.

But there’s one thing that’s even more incredible about all of this.

You see, each year these financial statements are audited by the government’s in-house agency known as the Government Accountability Office (GAO).

All big companies do this. They publish financial statements, which are then reviewed by an independent audit firm.

Auditors are a critical component of the financial reporting process.

It’s their responsibility to make sure that shareholders and the public can have confidence in a company’s financial statements.

When Apple publishes an annual report, auditors go through all the books of the company and make sure that management is accurately representing the company’s true condition.

Thus when an auditor issues a failing grade, or what’s known as a qualified opinion, there’s usually hell to pay.

At the very hint of impropriety a company’s stock price will tank immediately. People get fired. SEC investigations are launched.

And now based on US securities law and section 404 of the Sarbanes-Oxley Act from 2002, senior executives can face criminal charges if their companies receive a failing grade from their auditors.

This is serious stuff.

Yet year after year the GAO gives the federal government a failing grade in its audit report of America’s financial statements.

In this latest report, not only did the GAO chastise the federal government for its “unsustainable fiscal path”, but they state that the federal government consistently fails to prepare “reliable and complete financial information– both for individual federal entities and for the federal government as a whole.”

The Department of Defense, Department of Housing and Urban Development, and the Department of Agriculture are all singled out for their failure to prepare complete and accurate financial statements.

This is corroborated by a report published last year stating that the Defense Department has somehow “misplaced” $8.5 trillion of taxpayer money over the last 20 years.

The GAO cites other material weaknesses in the government’s reporting of supposed cost reductions in Medicare and Social Security.

In all, the GAO calculates that these financial uncertainties total $27.9 trillion, suggesting that the government’s true financial condition is far worse than reported.

Bottom line– if this were a private company, Barack Obama and Jack Lew would be wearing dayglo orange jumpsuits in court while facing felony fraud charges.

It’s not just the $18.2 trillion in negative net worth. Or the $41+ trillion (by their own calculations) in the Social Security shortfall.

It’s the fact that they can’t even stand in front of the American people with an honest accounting of how pitiful the financial situation really is.

The government of the United States is totally, desperately, hopelessly bankrupt. And they become even more insolvent with each passing year.

Nearly every single dominant superpower throughout history was eventually consumed by its unsustainable finances.

And in their decline from power, bankrupt governments rely on a simple playbook to desperately try to maintain the status quo by every means available.

They destroy freedom. They impose a police and surveillance state. They seize assets. They wage campaigns of violence and intimidation.

They impose capital controls. Cash controls. People controls. Whatever it takes.

This time is not different. The finances of the US government are obvious, as is the trend.

We’re not talking about what ‘might happen’ or ‘could happen’. We’re talking about what IS happening.

And this is not a consequence free environment.

from Sovereign Man http://ift.tt/1n1Ps2s
via IFTTT

Friday A/V Club: A Weed Grows In Brooklyn

Aficionados of anti-drug songs should appreciate this anti-pot number from 1951. Recorded by a forgotten country act called Mr. Sunshine & his Guitar Pickers, its charms include the use of the phrase “just say no” way back when Nancy Reagan was still Nancy Davis:

Here’s how Billboard covered the single when it was released:

I’m not certain what “recent headlines” the Billboard writer had in mind. But one big marijuana story that summer was a major crackdown on the pot growing wild (and sometimes growing with human help) around New York. Ben Gocker of the Brooklyn Public Library explains:

The kids will love this year's Christmas tree!In the summer of 1951 New York City was a marijuana jungle. From underpasses in the Bronx to empty lots on Avenue X, the razor-toothed fronds of 10 foot tall Cannabis sativa plants could be seen all around the city happily waving in the wind like any other innocuous and legal weed. But for all their persistence in invading the city’s forgotten horticultural corners, these plants were likely waving farewell: New York was no friend to pot.

Over the course of the summer about 41,000 pounds of marijuana were uprooted and destroyed during a campaign to eradicate the psychotropic stuff from vacant lots in the city….Responsible for all this destruction was General Inspector of the city’s Sanitation Department, John E. Gleason, who headed up a special “White Wing Squad” charged with harvesting and incinerating the dubious crop….

In this photo, captioned Plenty of Dream Stuff, we see Inspector Gleason and Denis Healy, Sanitation District Superintendent for Greenpoint and Williamsburg, taking the measurements of one especially lofty specimen. At this point in the summer—August 2nd—the Sanitation Department had already dug up “millions of dollars” worth of plants from the “marijuana plantations” of Brooklyn.

Two years later, Gocker adds, Gleason convicted two years later of lying to a grand jury. The general inspector was sentenced to three and a half years behind bars.

(For past editions of the Friday A/V Club, go here.)

from Hit & Run http://ift.tt/1VIYlu2
via IFTTT

Reason Weekly Contest: Apple vs. the Feds

PhoneWelcome back to the Weekly Reason Contest! This week’s question is:

Apple refuses to hand over an encryption key to the Feds. The Feds are fed up. Come up with the name of the next Apple device to foil the government.

How to enter: Submissions should be e-mailed to contest@reason.com. Please include your name, city and state. This week, kindly type “APPLE” in the subject line. Entries are due by 11 p.m. Eastern Time, Monday, Feb. 29. Winners will appear on March 4. In the case of identical or similar entries, the first one received gets credit. First prize is a one-year digital subscription to Reason magazine, plus bragging rights. While we appreciate kibbitzing in the comments below, you must email your answer to enter the contest. Feel free to enter more than once, and good luck!

And now for the results of last week’s contest: We asked you to predict the name of the next app company to enter the, uh, growing app-connected sex toy market.  You banged out:

THE WINNER

Screwber — Robert Ryan, Dallas City, IL

SECOND PLACE:

Rüber:  The safe sex app for handheld devices — Tim Whalen, Manassas, VA

THIRD PLACE:

Backdoor, by Apple — Drew Beardslee, Grand Rapids, MI

HONORABLE MENTIONS:

The Bedroomba – Let’s keep it clean

eGovernment – Now it screws you over the Internet — Tim Whalen, Manassas, VA

Plug and Play Toy Company  — S.R.

Jingles to Tingles  — David Pinto, Longmeadow, MA

iTapMyself – Brian Too Embarrassed , Alamosa, CO

Firm Consent: An app-controlled sex toy that stops every ten seconds to ask, “Is this okay?” Requires the user to scribe their initials and enter the date and time to resume function. — Dan Mahoney, Baja, MX

Clitbit — Robert Ryan, Dallas City, IL

Sit On My Facebook — Robert Ryan. Dallas City, IL

iTouch Myself

I’d App That

Menage a Tron — C.M.

Mistress Siri asks you the questions, worm. — Colin Blake, Boston, MA

AND FROM THE COMMENTS:

Atlas Plugged

The Mountin’ Head

Von Pleezes

Horny Birds

from Hit & Run http://ift.tt/1VIYn51
via IFTTT

IRS Takes On “Strong Christian” Trump: Says Audit Is No Reason To Hide Tax Returns

Following Mitt Romney's establishmentism and last night's attacks, Donald Trump's tax returns are the new narrative of this news cycle. Trump claimed he cannot (or is unwilling to) release his tax returns since he is currently under audit (which he says is "maybe because of the fact that I am a strong Christian…").

In recent weeks, as NYMAG.com reports, the GOP front-runner has faced escalating pressure to release his tax returns.

 

 

But, for now he has not released them. So when asked whether he would make the documents public last night, Trump claimed that the IRS had made it impossible for him to do so.

 “As far as my return, I want to file it, except for many years, I've been audited every year,” Trump said.

 

“Twelve years or something like that. Every year they audit me, audit me, audit me … I will absolutely give my return, but I'm being audited now for two or three [years' worth] now so I can't.”

 

Asked by CNN’s Chris Cuomo to explain his troubles with the IRS, Trump reasoned, “Maybe because of the fact that I am a strong Christian … you see what's happened, you have many religious groups complaining about that."

Romney, who got the ball rolling Wednesday by tweeting that there was "good reason to believe that there's a bombshell in Donald Trump's taxes," was also unimpressed.

However, according to NBC’s Frank Thorp V, the IRS disagrees, saying in a statement that "Federal privacy rules prohibit the IRS from discussing individual tax matters. Nothing prevents individuals from sharing their own tax information."

 

 

The showdown between Trump's lawyers and The IRS continues…


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