Is nuclear really an option?

Not since the end of the Cold War has there been so much use of the term “nuclear” than this past week.

In the U.S. Senate, Majority Leader Harry Reid, a man who every day seems to exhibit more of the results of the head trauma experienced in a former boxing career, changed rules that have been in place since the first Senate was convened over 200 years ago.

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via The Citizen http://www.thecitizen.com/articles/11-26-2013/nuclear-really-option

Water system critic: Some improvements are seen

“There’s something rotten in the Fayette County water system … and it stinks.” That’s how I began an open letter in early September. In the letter, I was critical of the county’s response to the state’s inspection of the water system.

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via The Citizen http://www.thecitizen.com/articles/11-26-2013/water-system-critic-some-improvements-are-seen

NASDAQ 4000 But Last Minute Mini Meltdown Poops The Party

Another (like yesterday) late-day collapse in stocks was not enough to entirely ruin CNBC’s headlines as the NASDAQ closed above 4,000 for the first time in 13 years. The only thing that could have made today better for the central planners was a red close for gold but despite rolling over from late-yesterday’s spike, the precious metal closed marginally higher and unch on the week. The NASDAQ just rolls on – up over 100 points in the last 4 days and now +10.3% off debt-ceiling lows (outpacing the S&P and Dow). Today’s ‘apparently’ good news on housing sent homebuilder buyers into a frenzy (+2.4% on the day as the squeeze continues wherever it can). The total lack of volume and liquidty was evident when sellers appeared in the last 15 minutes and instantly smashed the S&P back to VWAP and below echoing yesterday afternoon. Treasuries rallied on the day (with a little selloff as stocks sold off into the close) ending -3bp on the week. The USD slid from the US open but notably stocks disconnected from any JPY carry for most of the day until the closing collapse…

 

Wondering what happened? – stocks finally woke the fuck up that the JPY carry trade had left them behind…

 

But it seems there may be another reason?

 

NASDAQ and Russell high-beta won the day as Trannies, S&P and Dow closed unch…

 

The NASDAQ has overtaken the S&P and Dow off the debt-ceiling lows…

 

Off the debt-ceiling lows, Homebuilders splurged again today…

 

Treasuries rallied again – but lost steam as stocks dumped

 

Gold and Silver rolled over from late-yesterday’s spike highs but remain unchanged on the week…

 

Yet again we saw USD strength (EUR weakenss) in the European session followed by USD weakness in the US session…

 

Charts: Bloomberg


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/ZMx69c00NN8/story01.htm Tyler Durden

Christine L. Williams, age 84

Mrs. Christine L. Williams, age 84, passed away on Thursday, November 21, 2013 at Fayette Piedmont Hospital.

Mrs. Williams was born in Atlanta, Ga. on November 14, 1929.

She is preceded in death by her parents, James Thompson and Carrie M. Thompson; her husband, Henry Kelly Williams; daughter, Janice Williams; brother, Pete Thompson.

Mrs. Williams was a member of Griffin First Assembly and the Primetimers.

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via The Citizen http://www.thecitizen.com/articles/11-26-2013/christine-l-williams-age-84

Walter William Berg, age 47 of Griffin

Mr. Walter William Berg, age 47 of Griffin, Ga., passed away on Saturday, November 16, 2013 while participating in the annual Altamaha River Partnership’s Ride for the River.

Walter Berg was born in Rockford, Ill. on December 21, 1965.

He is preceded in death by his parents, Ralph Berg and Judith Jansen Berg, and by his sister, Angela Hernandez.

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via The Citizen http://www.thecitizen.com/articles/11-26-2013/walter-william-berg-age-47-griffin

SGT Major Frederick H. Kruse, 72, of Peachtree City

SGT Major (ret) Frederick H. Kruse, 72, of Peachtree City, passed away November 22, 2013.

He proudly served his country in the United States Army serving as a Finance and Accounting sergeant in Korea, Vietnam, Ft. Ord, Ft. Carson, Germany, FORSCOM as well as other military installations.

Mr. Kruse is survived by his wife, SGM (Ret) Lucie Rivera-O’Ferrall of Peachtree City; sisters Pat (Johnny) Hasty of Hayes, Va.; Christine (Robert) Hunt of West Point, Va. and Karilene Kruse also of West Point, Va. and sister-in-law Gloria Rivera-O’Ferrall of Peachtree City.

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via The Citizen http://www.thecitizen.com/articles/11-26-2013/sgt-major-frederick-h-kruse-72-peachtree-city

June H. Clemans, 84, of Peachtree City

June H. Clemans, 84, of Peachtree City, passed away November 24, 2013.

A dedicated piano teacher for over 60 years, she taught students in Hapeville, College Park and Peachtree City to love and appreciate fine music. As an accomplished organist, she inspired many congregations, accompanied numerous choirs and performed at countless weddings and funerals. She was an avid duplicate bridge player and had achieved Life Master Status. She was a faithful member of New Church of Peachtree City.

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via The Citizen http://www.thecitizen.com/articles/11-26-2013/june-h-clemans-84-peachtree-city

SCOTUS Will Hear Religious Challenges to Obamacare’s Contraceptive Mandate

Today the Supreme Court

agreed
to hear two cases that challenge Obamacare’s contraceptive
mandate
as a violation of religious freedom. Last year the
Court
upheld
the requirement that individuals obtain
government-approved medical coverage by treating it as an exercise
of the tax power. This will be the Court’s second opportunity to
assess the legality of the Patient Protection and Affordable Care
Act.

In one of the cases the court plans to hear,
Sebelius v. Hobby Lobby Stores
, David and Barbara
Green, who own the Oklahoma-based chain together with their three
children, argue that forcing them to provide their employees with
health plans that cover certain forms of contraception violates the
Religious Freedom Restoration Act (RFRA). The Greens specifically
object to four kinds of contraception—Ella, Plan B, and two
IUDs—that work by preventing implantation of fertilized ova, which
they view as morally equivalent to abortion. 

RFRA, which Congress passed almost unanimously in response to a

1990 Supreme Court decision
that loosened the restraints on
laws that limit religious freedom, says “government shall not
substantially burden a person’s exercise of religion”
unless the burden is “narrowly tailored” to serve a “compelling”
interest. Last June the U.S. Court of Appeals for the 10th Circuit

ruled
 that the contraceptive mandate probably fails this
test, especially since it already exempts as many as 100 million
health plans, including those offered by churches and other
nonprofit religious organizations. The court also noted that the
Greens have no religious objection to 16 of the 20 contraceptives
covered by the mandate.

The other challenge to the contraceptive rule,
Conestoga Wood Specialties v. Sebelius
, involves a
Pennsylvania cabinet company owned by the Hahns, a Mennonite
family. The Hahns, like the Greens, object to contraceptives that
prevent implantation rather than fertilization. But in July the
U.S. Court of Appeals for the 3rd Circuit
rejected
their RFRA claim, concluding that their business is
not covered by the statute because it is a for-profit corporation
and therefore does not qualify as a “person.” The Court held that
“a for-profit, secular corporation cannot engage in the exercise of
religion.”

The 10th Circuit rejected this distinction. “It is beyond
question that associations—not just individuals—have Free Exercise
rights,” it said, quoting a 1984 Supreme Court decision: “An
individual’s freedom to speak, to worship, and to petition the
government for the redress of grievances could not be vigorously
protected from interference by the State unless a correlative
freedom to engage in group effort toward those ends [was] also
guaranteed.” If people do not lose their religious freedom when
they exercise it through nonprofit corporations (such as churches)
or for-profit businesses that are not incorporated, the 10th
Circuit asked, why should they sacrifice this right when they
combine the corporate form with a profit motive? For example,
“Would an incorporated kosher butcher really have no claim to
challenge a regulation mandating non-kosher butchering practices?”
The 10th Circuit noted that the Supreme Court, in the 2010
case Citizens
United v. FEC
, overturned restrictions on political
speech by both commercial and nonprofit corporations, recognizing
them as tools that individuals use to exercise their First
Amendment rights. 

In a 2007 Reason article, I
explored
RFRA’s implications for religious rituals involving
prohibited drugs.

from Hit & Run http://reason.com/blog/2013/11/26/scotus-will-hear-religious-challenges-to
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