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Submitted by Mike Krieger via Liberty Blitzkrieg blog,

Last May, I covered the work of Defense Distributed with regard to its building of tools for individuals to 3D-print their own firearms in the post. Meet “The Liberator”: The World’s First Fully 3D-Printed Firearm, In it, I noted:

3D-printing, like decentralized crypto currencies, have the potential to change the world in which we live in extraordinary ways. Ways that are almost inconceivable at this point given we are so early in the game. More than anything else, these technologies can empower the individual like never before, and I think that is generally a very good thing.

While all sixteen pieces of the Liberator were printed in ABS plastic, the $1,200 computer-controlled (CNC) milling machine called the “Ghost Gunner,” is capable of automatically carving polymer, wood, and metal in three dimensions. More from Wired:

Americans want guns without serial numbers. And apparently, they want to make them at home.

 

On Wednesday, Cody Wilson’s libertarian non-profit Defense Distributed revealed the Ghost Gunner, a $1,200 computer-controlled (CNC) milling machine designed to let anyone make the aluminum body of an AR-15 rifle at home, with no expertise, no regulation, and no serial numbers. Since then, he’s sold more than 200 of the foot-cubed CNC mills—175 in the first 24 hours. That’s well beyond his expectations; Wilson had planned to sell only 110 of the machines total before cutting off orders.

 

While the Ghost Gunner is a general-purpose CNC mill, capable of automatically carving polymer, wood, and metal in three dimensions, Defense Distributed has marketed its machine specifically as a tool for milling the so-called lower receiver of an AR-15, which is the regulated body of that semi-automatic rifle. The gun community has already made that task far easier by selling so-called “80-percent lowers,” blocks of aluminum that need only a few holes and cavities milled out to become working lower receivers. Wilson says he’s now in talks with San Diego-based Ares Armor, one of the top sellers of those 80-percent lowers, to enter into some sort of sales partnership.

 

The sales numbers for the Ghost Gunner may be far smaller. But at $1,200, every sale helps fund the activities of Defense Distributed. “I’ve never felt more optimistic about the ability of Defense Distributed to become an installed part of the future, and to help create an expansion of the second amendment,” he says. “There’s hope that Defense Distributed can become a significant civil liberties organization…That’s the ambition, the wildest dream of this entity, to have a marked material effect like that.”

Now here’s the Ghost Gunner in all its YouTube video glory:

 

Long-time readers of Liberty Blitzkrieg will know that I am a huge supporter of gun rights. While I am personally not a gun enthusiast in my own life, I recognize the right of my fellow citizens to be armed. While many people like to blindly push for gun control, it would be mush wiser for Americans to focus on “war control.” That is, stopping our own government from consistently, aggressively and unconstitutionally unleashing violence on populations all over the world, particularly the Middle East.

I find it the height of hypocrisy when politicians constantly using our nation’s blood and treasure to bomb and murder civilians all over the world, get up on podiums to stress the importance of disarming peaceful civilians due to a few random school shootings (as tragic as they are). When the U.S. government becomes Switzerland, then we can talk gun control. The biggest criminals, murders and war-profiteers around are at the top of the U.S. government and the military-industrial complex, and they’re doing it with our tax dollars. So if you want a more peaceful world, let’s start there.

For more of my thoughts on gun control read: How to Spot a Hypocrite in the Gun Debate and Other Reflections on Newtown

If 3D-printing of firearms isn’t your thing, check out: 3D Printing Entire Homes and Neighborhoods May be Just Around the Corner

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

Having lost billions of dollars for quarter after quarter, The US Postal Service has a cunning plan to cut costs – end door-to-door postal delivery. More than 30 million American homes get door-to-door delivery and another 50 million get their mail dropped at their curbside mailboxes, but as Reuters reports, with the ‘entity’ buckling under massive financial losses, it sees savings in centralized mail delivery. This is good news for the customer though – apparently – as Postal Service spokeswoman Sue Brennan explains “converting delivery away from door delivery to either curb line or centralized delivery would enable the Postal Service to provide service to more customers in less time.”

The Postal Service last year lost $16 billion, mostly due to dwindling mail volumes and massive payments into a mandatory fund for its future retirees’ healthcare.

The agency, which does not receive taxpayer funds, is under pressure to modify its business model and raise revenues or risk requiring a bailout of nearly $50 billion by 2017.

So, as Reuters reports, under a cost-saving plan by the U.S. Postal Service, millions of Americans accustomed to getting their mail delivered to their doors will have to trek to the curb and residents of new homes will use neighborhood mailbox clusters, the agency said.

The Postal Service has been quietly phasing in the change with some aspects starting in April, and it has given no timeline for the shift. It’s unclear if delivery to the door will be eliminated entirely.

 

“Converting delivery away from door delivery to either curb line or centralized delivery would enable the Postal Service to provide service to more customers in less time,” Postal Service spokeswoman Sue Brennan said.

 

More than 30 million American homes get door-to-door delivery and another 50 million get their mail dropped at their curbside mailboxes.

 

But the Post Service, which is buckling under massive financial losses, sees savings in centralized mail delivery. Door-to-door delivery costs the Postal Service about $353 per address each year.

 

Curbside delivery costs $224, and cluster boxes cost $160 per address. With cluster boxes, mailboxes for individual addresses are grouped together at a central neighborhood location.

 

The move is one of many controversial cost-cutting steps the Postal Service is trying as it continues to plead with Congress for permission to overhaul its business and avert a bailout.

Not everyone is sure this is good idea…

Some in the mailing community such as the Greeting Card Association support a switch to a cluster box system.

 

But others such as the National Association of Letter Carriers and the American Postal Workers Union oppose it.

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via Zero Hedge http://ift.tt/1ts2bb3 Tyler Durden

Via Avax News,

Venezuela's economic crisis has led to some shocking and surreal price distortions that hit people's buying power dramatically. While the government of President Nicolas Maduro calls the country's minimum wage of Bs. 4,252 the highest in the region when converted to $675 using the official exchange rate, the galloping black market for currency considers it as just $42.50 when converted at the street rate of Bs. 100 per US dollar, the rate which many importers and retail outlets must use to acquire hard currency. Venezuela's annual inflation rate of more than 63 percent is the highest in the Americas, according to official statistics.

A box of 36 coloured pencils as photographed in a studio with an illustrative price tag of $115 (US dollars), equivalent to the Bs. 725 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014.  (Photo by Carlos Garcia Rawlins/Reuters)

 

A Goodyear brand automobile tyre as photographed in a studio with an illustrative price tag of $753 (US dollars), equivalent to the Bs. 4,750 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

An aluminium pressure cooker as photographed in a studio with an illustrative price tag of $507 (US dollars), equivalent to the Bs. 3,200 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A five-gallon bucket of house paint as photographed in a studio with an illustrative price tag of $528 (US dollars), equivalent to the Bs. 3,329 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A can of Coca-Cola as photographed in a studio with an illustrative price tag of $5.56 (US dollars), equivalent to the Bs. 35 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A pair of Stanley brand household pliers as photographed in a studio with an illustrative price tag of $121 (US dollars), equivalent to the Bs. 765 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A Samsung 32" plasma TV as photographed in a studio with an illustrative price tag of $5,476 (US dollars), equivalent to the Bs. 34,500 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A kilogram (2.2 lbs) of raw carrots as photographed in a studio with an illustrative price tag of $19.05 (US dollars), equivalent to the Bs. 120 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

An Adidas Adipure Crazy running shoe as photographed in a studio with an illustrative price tag of $1,198 (US dollars), equivalent to the Bs. 7,547 (bolivars) a pair of them costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A Big Mac as photographed in a studio with an illustrative price tag of $14.60 (US dollars), equivalent to the Bs. 92 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A locally produced bath towel as photographed in a studio with an illustrative price tag of $136 (US dollars), equivalent to the Bs. 859 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A hair dryer as photographed in a studio with an illustrative price tag of $697 (US dollars), equivalent to the Bs. 4,392 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A Barbie doll as photographed in a studio with an illustrative price tag of $194 (US dollars), equivalent to the Bs. 1,226 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A household broom as photographed in a studio with an illustrative price tag of $24.60 (US dollars), equivalent to the Bs. 155 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A 50 lb. (22.7 kg) bag of Purina Dog Chow as photographed in a studio with an illustrative price tag of $272 (US dollars), equivalent to the Bs. 1,716 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

 

A 75-watt incandescent light bulb as photographed in a studio with an illustrative price tag of $13.51 (US dollars), equivalent to the Bs. 85.12 (bolivars) that it costs on average to purchase in Caracas at the official exchange rate of 6.3 bolivars per dollar, in Caracas September 29, 2014. (Photo by Carlos Garcia Rawlins/Reuters)

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Coming to America near you sooner than you think…as we noted previously, "the road to poverty is paved with small inflations."

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

Excerpted from today’s World-Renowned Gartman Letter,

SHARE PRICES HAVE FLOWN SKYWARD as our International Index has gained triple digits… precisely 100 points… for one of the very few times in its history, or 1.1% and it would have been higher still had it not been for holidays in Germany and China which have left their DAX and the Shanghai indices unchanged from the levels prevailing Friday. As evidenced by the chart of the S&P at the upper left of p.1, the support we had hoped would hold late last week had indeed held; the well-defined upward sloping trend channel continues to remain fully intact and until that trend line is broken we have to once again err upon the side of being bullish of shares generally. It is that simple and to make it more complex than that shall make it difficult to keep one’s focus.

 

Oh, there are indeed any and all sorts of fundamental reasons why the stock market in general terms is given over to being over-extended to the upside, including P/e ratios that are high; including earnings that may prove faulty; including high levels of margin debt; including far, far too many IPO’s that we think are ill-advised and overpriced; including the end of QE here in the US and of course including the horrible geo-political storms brewing seemingly ceaselessly… but yet support levels have held and trends from the lower left to the upper right obtain. One may wish to join the bearish camp, but one would be wrong.

 

…Prices are headed higher and we’ve no choice but to reduce our exposure on the short side via derivatives that shall therefore increase our long exposure.

And then this happened…

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

GT Advanced technologies has been halted numerous times since re-opening post-bankruptcy

$GTAT now halted 6 times by LULD (3 to the upside, 3 to the downside)

— Eric Scott Hunsader (@nanexllc) October 6, 2014

 

$GTAT – 4 LULD halts so far (3 hit upper limit, 1 hit lower) http://ift.tt/1vHqLYi

— Eric Scott Hunsader (@nanexllc) October 6, 2014

This is how price discovery occurs in a massively overvalued company, with no cash flows, and a record short interest…

$GTAT hit 7th halt at $0.81

— Eric Scott Hunsader (@nanexllc) October 6, 2014

$GTAT hits 8th halt – to the upside at $0.87

— Eric Scott Hunsader (@nanexllc) October 6, 2014

$GTAT – 9th halt, this one to the upside at $0.96

— Eric Scott Hunsader (@nanexllc) October 6, 2014

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

And now for something funny.

Earlier today, credit agency Equifax piggybacked on Experian’s auto loan data, and reported the following:

• The total balance of auto loans outstanding in August is $924.2 billion, an all-time high and an increase of 10.8% from same time a year ago
• The total number of auto loans outstanding stands at more than 65 million, a record high and an increase of more than 6% from the same time last year;
• The total number of new loans originated through June is 12.5 million, an increase of 4.9% from same time a year ago
• The total balance of new loans is $254.2 billion, an increase of 6.9% from same time a year ago and representing nearly half of total new non-mortgage credit originated
• The total number of new loans originated year-to-date through June for subprime borrowers, defined as consumers with Equifax Risk Scores of 640 or lower, is 3.9 million, representing 31.2% of all auto loans originated this year.
• Similarly, the total balance of newly originated subprime auto loans is $70.7 billion, an eight-year high and representing 27.8% of the total balance of new auto loans
• Year-to-date in June, the average loan amount for borrowers with risk scores of 680 or lower are increasing the most, showing a 3% increase from the previous year. Loan sizes among borrowers with risk scores of 760 or higher show little change from the same time a year ago
  

At least we now know, definitively, what the reason for the US manufacturing surge in the late spring early summer was: a subprime credit-driven car buying binge.

But wait, there’s more: because here is Equifax’ “conclusion” based on the above bullets:

“Auto sales continue to soar, crossing the 17.4 million mark on an annualized basis for new cars and light trucks in August,” said Amy Crews Cutts, Senior Vice President and Chief Economist at Equifax. “The abundance of high-quality vehicles for sale, the attractive financing options available, and the ever-increasing age of cars on the road today have created an environment that makes it easy for consumers to say ‘yes’ when it comes to purchasing a new or used car. Importantly, auto loan originations to borrowers with subprime credit scores remain stable, providing additional evidence that a bubble is not occurring in that space.“

To summarize: to Equifax a record car loan bubble with an 8 year high in subprime origination is “evidence” that there is no bubble.

And… #Ref!

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