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12 April 2014

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Jack

The Fed over the last century has eroded the purchasing power of the savings of our earlier generations on the basis of all kinds of "technical" jargon laced rationalizations. Hardly anyone points out that at the Feds 2% target debasement rate a worker will lose half their purchasing power in 30 years.

Fred

To say that Brennan was in Kiev to meet with his counterparts, as if there had been no turmoil in the past months is just insulting to one's intelligence. More troubling is just what is Obama going to have the Feds do with all the violence in his home town:

http://www.chicagobusiness.com/article/20140414/NEWS02/140419887

Alba Etie

Tyler
We are seeing greater numbers of honeybees in Central Texas due to the Africanized colonies becoming more rooted here. Not only are the African hybrids better able to find off the mites - they seem to be much more drought tolerant . Other good local news - we may even have better outcomes on rain here and the Greater South West - because the El Nino climate pattern seems to be setting up in the Pacific quite nicely - or so says the Texas State Climatologist . The other empirical evidence that we are going to have a wetter winter is that the bobwhite quail population in our immediate countryside seems to be really rebounding as well . Growing up we would observe quail populations would go down in drought - and rebound when we got more rain . Hopefully the returning El Nino will help your garden grow with more rainfall in this years Arizona monsoons . By the way how is Dexter doing ?

The Twisted Genius

David Habakkuk,

Appreciate your thoughts and the links. The situation in Ukraine is indeed convoluted and murky. Gareth Jone's and his mother's accounts of old Ukraine are enlightening. I'm convinced John Brennan and Jen Psaki aren't capable of understanding any of this even if a mujik came up and bit them in the ass. I haven't heard that term myself in quite a while. Years ago when I was in frequent contact with old school Russian hackers, we threw the term mudak at each other quite regularly. Such a colorful language.

The Twisted Genius

Tyler,

I don't know near enough about the Spetznaz to compare their UW capabilities to Special Forces capabilities. The Russians are clearly better at the art of STFU than we are. Spetznaz UW capabilities are probably in one or a few Spetznaz GRU and FSB outfits, but who knows. Spetznaz is really an overarching term similar to our special operations. The units and their missions vary greatly. Most of the Spetznaz units are more like our Rangers, Delta and DEVGRU. There's a wide range of capabilities just in those three units. Why the "operators" of Delta and DEVGRU sport beards is beyond me. They certainly don't blend into the populations where they've been operating. I think it's primarily due to their contrariness.

The environment for UW in Eastern Ukraine is as close to perfect conditions for Russian UW as they can be. The language, the culture, the presence of trained police and military units already on the side of the locals, the ineptness of the Kiev freaks, the proximity of overwhelming conventional support (if needed) all add up to a perfect storm... for Kiev. Our Special Forces have never enjoyed such perfect conditions.

Charles I

not really where I live its only a fall crop, a runner for sure but whatever you do don't grow eggplant zucchini or any of that stuff for some reason they runaway up here.

Tomatoes, last year I had this one big indeterminate plant, it was like something outta Day of the Triffids. One thing you can't buy, a good tomato. What I got going is raised beds for asparagus, beans of every kind, beets, raddish, peas, potatoes, corn, carrot, tomato, peppers, onions, brussels sprouts, don't bother with broccoli any more, a whole salad mix thing, a few squash, a few cauliflower, grow a few strawberries. Keep the milkweed, bergamont and other butterfly plants spreading wherever there's not garden, pines or rock.

Grow some catnip for kitties, but that stuff really does spread like the triffids.

What it comes down to is I'm mad for beans, brussels sprout, salads and pickled beets and peppers. All of this just came over me in an instant one fall about 4 years ago and I can't spend enough time farting around out there.

Charles I

This article was about an amended amanedment and not precedent notwithstanding it will never happen.

Charles I

All the reporting I've seen and heard in Canada points out the perverse irony as a central aspect of the story.

Charles I

Back then, a lot of very strategic things were about steel, grain, coal and oil. The Kulaks and Japanese came to know it, we forget. Today's strategic commodities, worth dying over, whatever they are in the neobrain, hardly seem to be centered in Ukraine.

zanzibar

WRC

Philosophically I am always incredulous that central planning institutions have the conceit that they can "manage the world's economy". IMO, the Fed governors truly believe they have the mandate and ability to turn and twist the knobs to tune the economy to perfection. In reality, I contend, that over the past half century, they have fostered asset and credit inflations that have increased financial fragility and economic instability. And each time these bubbles burst they order more of the hair of the dog that bit them.

Rajan's speech at Brookings last week is important. He was the chief economist at the IMF for several years and remains a professor at the University of Chicago. He was on the Jackson Hole circuit and to his credit raised the flag as the mortgage credit bubble inflated. As a card carrying member of the academic interventionist club, he is now calling into question Bernanke's "peaches & cream" policies. He notes: "A first step to prescribing the right medicine is to recognize the cause of the sickness. Extreme monetary easing, in my view, is more cause than medicine."

The real question is, have central banks trapped themselves, where they may feel compelled to rescue large financial speculators whenever leveraged assets crack. Greenspan's and Bernanke's asymmetric response policy. What happens if and when they can't?

zanzibar

You make a very important point. The loss of purchasing power to the tune of 95% since the formation of the Fed has whittled away the wealth created by our forebears. While their rhetoric as you note, couched in incomprehensible language seems to be in the cause of the middle classes & working classes, their actions clearly point that their primary focus is the well being of the large leveraged speculator class & the profligate government.

turcopolier

Charles I

I can understand that Japan felt pushed by the US over resources and that this influenced Japan's decision for war with the US, but explain to me how resource concerns were at the root of the origins of WWI. pl

William R. Cumming

IMO the USA is about to find out the cupboard of our wealth is bare, and the FED the main culprit but after all the banksters own it.

Charles I

I can't, never attempted too and won't. My utter confusion is what on earth be it commodity or fantasy is worth fighting a foreign war for?

optimax

Charles I

The local evening news didn't mention the victims religions. The evening news did and had two clips of the woman who lost her father and son in the shooting. She is an incredibly strong woman grounded in her faith in God and love of community.

There are many comments on the web connecting the shooter's Christian beliefs with his insane actions and prejudice. People need to see this woman as a true Christian who does more than fear the world of the Old Testament by living the words of Christ. I don't even consider myself a Christian but still do judge people.

YT

Samuel,

You may like this...

http://www.theguardian.com/books/2009/sep/13/freedom-for-sale-john-kampfner

Medicine Man

That is quite practical of the bees. While they can sting other insects and survive, the skin of a large mammal is too thick and they will disembowel themselves when attacking us. While quite final for the bee, it is a quite nasty offensive adaptation; they leave behind their stinger and venom glands when they sting an animal our size, just to make it really hurt.

John Minnerath

You can't? Japan at the time, a resource poor nation, was struggling to make it's way into the big time; the world of the industrialized west.
How they went about it was a mistake and cost them dearly. For the past 60+ years they've worked at getting even.

Fred

Charles I,

Don't you remember the gas lines from the '70's? That almost got us into a war.

turcopolier

JM

You must have misunderstood. I think Japan attacked us because of US embargoes over China. pl

John Minnerath

Sir,
It came to that, but I think their brutal operations in China were part of what their government saw as an imperative to obtain more raw materials to supply their expansionist policy.
Had they not signed off with the Axis in Europe and then made the foolish mistake of attacking the US, their Greater Co-prosperity Sphere may have succeeded, to some extent.

Fred

So is the Democratic Party out to destroy Social Security?
http://www.washingtonpost.com/politics/social-security-stops-trying-to-collect-on-old-taxpayer-debts/2014/04/14/9355c58e-c40f-11e3-bcec-b71ee10e9bc3_story.html

William R. Cumming

That visit demonstrates completely Biden does not get "it" and never will!

Do you know what a "Kennedy father" is? Is Biden?

John Minnerath

Bloomberg on announcing a new $50M anti-gun campaign. " We’re going to go after you,'" he said of the NRA. "'If you don’t vote with us we’re going to go after your kids and your grandkids and your great-grandkids. And we’re never going to stop.'"
The ranting of an angry old man.

Tyler

We have had amazing success with broccoli out here during the winter. Greens of all sorts, from butter lettuce to kale, seem to just love the cool season here.

Our zucchini and squash have exploded in the past few days. The peppers (bell and jalapeño) have started to bloom. I hope to see fruiting from there as well as our beans, who are showing little white flowers. There's a seed dispensary that specializes in desert seeds, and I got those little beauties from there.

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