Business 2 Community: U.S. Dollar to Become the Next Yen?

In its latest meeting minutes, the Federal Reserve said it will continue with quantitative easing, creating $85.0 billion in new money monthly, in order to bring economic growth to the U.S. economy. (Source: Federal Reserve, May 1, 2013.)

The Federal Reserve, once again, didn’t provide any clear indication as to when it will end the quantitative easing; rather, the central bank stated it will continue to do the same “until the outlook for the labor market has improved substantially in context of price stability.” (Source: Ibid.)

The Federal Reserve has already increased its balance sheet to over $3.0 trillion, and if it continues its quantitative easing at this pace, its balance sheet will balloon even more, possibly even reaching $4.0 trillion—or even $5.0 trillion—in a very short period of time.

This is troublesome news, dear reader. The more money created out of thin air via quantitative easing, the more the fundamentals of the reserve currency, the U.S. dollar, deteriorate.

As I have mentioned in these pages before, we only need to look at the Japanese economy to see quantitative easing is not a viable option for us.

The Japanese currency has plummeted since the Bank of Japan revved up its quantitative easing. Just look at the chart below of the Japanese yen compared to other major currencies in the global economy; it seems as if the currency has fallen off a cliff. If we keep up with all this money printing, the U.S. dollar may eventually look the same!

U.S. Dollar to Become the Next Yen? image xjy japanese yen philadelphia index1

Chart courtesy of www.StockCharts.com

A falling U.S. dollar will drag down the buying power of Americans even further, as they are already struggling to keep up with their expenses. What we could purchase for $1.00 in the year 2000 now costs us $1.35. (Source: Bureau of Labor Statistics, last accessed May 3, 2013.)

I have yet to see any real economic growth in the U.S. economy as it was promised when quantitative easing was first introduced after the financial crisis. Quantitative easing is working to make big bank balance sheets strong and to create inflation, but I don’t see any economic growth being created by it.

I am looking at the Japanese economy as the best example of a country failing with long-term quantitative easing and what might be next for the U.S. economy and the dollar due to all this newly created money.

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Click below for the full article.

http://www.business2community.com/finance/u-s-dollar-to-become-the-next-yen-0486009

Infowars: Man Sues TSA For $5 Million Following Peanut Butter Arrest

24 hours in a cell  for joking about sandwich spread

An Arizona man who was arrested at the behest of  the TSA, following a wisecrack over a jar of peanut butter is suing the federal  agency for $5 million.

Frank Hannibal, 50, was detained and dragged from LaGuardia  Airport recently by police after a run-in with TSA agents over the jar of  gourmet sandwich spread.

“The liquid oil that separated from the peanut butter had  them baffled,” Hannibal told the New York Daily News.

Hannibal then commented to his wife and children that  “They’re looking to confiscate my explosives,” as TSA agents inspected the  16-ounce jar of “Crazy Richards” chunky peanut butter.

TSA screener Edwin Sanchez, overheard Hannibal’s remark, did  not see the funny side, and immediately called the cops, according to the court  complaint.

Hannibal spent the next 24 hours in a cell, during which time  he was fed a peanut butter sandwich by cops who later charged him with the  felony of “falsely reporting an incident”.

“It sounds laughable now but at the time to be led out of  there like a terrorist was unbelievable,” Hannibal tells the Daily News. “My  whole life was up in the air. It was a nightmare. My children were overwhelmed.  It was crazy.”

Hannibal has brought a $5-million-dollar lawsuit against the  TSA worker and the Port Authority officer who arrested him, all over a $7  confectionary which was returned to him upon his release from jail.

“It’s a sorry state of affairs in this country when sarcasm  is considered a felony,” his attorney, Alan D. Levine of Queens, noted, adding  that TSA agents need to act with common sense in such situations.

This is not an isolated incident. The TSA has a history of  concentrating on looking out for cakes and pies, as well as sauces, oils and vinegars.

The Homeland Security agency has also instituted a crack down on candy and cupcakes.

At the same time, people are routinely waltzing through  security lines with swords, knives, explosives and guns. Many agents are too busy  groping women and searching old people’s diapers to bother checking passports and flight passes.

Still, it’s good to know that the government is keeping  Americans safe from sandwich wielding jokers.

Click below to read Steve Watson’s article on infowars.

http://www.infowars.com/man-sues-tsa-for-5-million-following-peanut-butter-arrest/

Fox News Fail: George W. Bush has saved more lives than any American president

President George W. Bush gives a farewell address to the nation, Thursday, Jan. 15, 2009, in the East Room of the White House in Washington. (AP Photo/Ron Edmonds)

We aren’t going to post any of this gem of an article, but you can check it out at the link below.  This one took the cake as the Fox News Fail of the week (and probably month), but there were plenty of other contenders as Fox News tries to help remake the image of George W.  Bush, the President who pushed for the Unconstitutional Patriot Act, created the TSA and DHS, expanded the size of government, fought Unconstitutional wars while going back on 2000 campaign promises of his foreign policy, and whose reckless spending left America on a pathway to bankruptcy.

http://www.foxnews.com/opinion/2013/04/25/george-w-bush-has-saved-more-lives-than-any-american-president/

NOTE: Dana Perino’s take deserves honorable mention:

http://www.foxnews.com/opinion/2013/04/23/my-favorite-memories-president-george-w-bush/

Steve Chapman of the Washington Examiner: Stay out of Syria

With the Iraq war behind us and our departure from Afghanistan underway, the United States could be entering a well-earned respite from fighting. But even before peace can take hold, hawks are singing the old country song: “I’ve enjoyed as much of this as I can stand.”

They see a way to escape in Syria, where rebels have been fighting the government of Bashar al-Assad for more than two years. For most of that time, Republican Sens. John McCain of Arizona and Lindsey Graham of South Carolina have been leading the call for U.S. military intervention — and President Barack Obama has been declining the invitation.

His critics, however, think they now have him where they want him. Obama earlier said that any use of chemical weapons by Assad would be a “game changer,” and last week, the White House said it thinks he’s used sarin gas, though it said further investigation would be needed.

Obama was careful in his Tuesday news conference to emphasize the uncertainties: “What we now have is evidence that chemical weapons have been used inside of Syria, but we don’t know how they were used, when they were used, who used them.”

So far he’s settled for a minimalist response: possibly sending weapons to the insurgents. He added that as a result of the gas attacks, “there are some options that we might not otherwise exercise that we would strongly consider.”

Strongly consider? My advice is to consider them till the cows come home — just don’t actually adopt them. The options at hand are generally dangerous, ineffectual or both.

Graham says the United States has to act because “the greatest risk is a failed state with chemical weapons falling in the hands of radical Islamists.” In reality, the greatest risk is putting our troops into a civil war where they could end up targeted by both sides, as we ingeniously arranged in Iraq. As we showed there, removing a dictator can unleash endless sectarian conflict. Fortunately, even McCain says he doesn’t favor American boots on the ground.

The preferred instrument of hawks is air power — to enforce a no-fly zone against the regime or destroy military assets. But it’s a lot easier said than done.

To begin with, Syria has one of the best air defense systems in the world, built with help from Russia. “Gen. Martin Dempsey, the chairman of the Joint Chiefs of Staff, frequently singles out Mr. Assad’s air-defense prowess as the biggest single obstacle to U.S. intervention,” reports The Wall Street Journal. Casualty-free intervention, a la Libya, is not a realistic possibility in Syria.

Taking out Assad’s anti-aircraft batteries — or tanks, trucks and infantry — would inflict heavy casualties on the people we’d like to help. Much of the fighting takes place in cities, where civilians are dangerously exposed.

Even precision bombs launched from drones, notes University of Chicago scholar Robert Pape, author of “Bombing to Win,” have a blast radius of up to 50 feet, and their shock waves can easily bring down neighboring buildings. Our drone strikes in rural Pakistan do enough collateral damage to sow deep anger among the locals. In urban Syria, civilian fatalities would be far higher.

U.S. bombing might backfire by inducing the regime to make full use of its chemical weapons while it can. Air power also can’t head off the danger of those supplies falling into the hands of Islamic radicals. Bombing chemical weapons sites, even if we could identify them, would mean spewing deadly nerve agents over a wide area — which sort of resembles the outcome we’re trying to prevent.

But securing them from militants would require ground forces — as many as 75,000, according to the Pentagon. Transporting the stockpiles out of the country or destroying them would take a lot of troops and time. “There is no exit strategy with this option either,” says Michael Desch, a national security scholar at the University of Notre Dame.

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Click below for the full article.

http://washingtonexaminer.com/steve-chapman-stay-out-of-syria/article/2528663

Opposing Views: Rapper Xstrav Arrested for Drinking Iced Tea in Parking Lot

article image

Two videos (below) of the arrest of rapper Xstrav (Christopher Beatty) on April 29 outside an ABC Liquor Store in Fayetteville, North Carolina, have gone viral on the web.

According to LatinRapper.com, Xstrav and fellow rapper Tino Brown were waiting in the parking lot for Money Mal to meet them when a man walked up and asked repeatedly what Xstrav was drinking.

Brown, who was holding a camera or a cell phone, recorded the entire incident.

Xstrav told the man several times he was drinking Arizona Half & Half Iced Tea. Xstrav then asked the man several times to identify himself, to which he finally said “police,” but did not immediately show a badge or other form of ID.

The plainclothes police officer told Xstrav that he was “trespassing” and had to leave the property. When the rapper refused, the officer wrestled Xstrav to the ground and handcuffed him.

The plainclothes police officer did flash what may have been a badge for a few seconds, but apparently did not read Xstrav his Miranda Rights.

In the second video, a police car drove up with a uniformed police officer and Xstrav was led into the police car.

While some viewers have suggested the videos were fake, the North Carolina Court System website shows Beatty was charged with trespassing and resisting a public officer.

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Click below for the link to the article on Opposing View’s website.

http://www.opposingviews.com/i/society/crime/rapper-xstrav-arrested-drinking-iced-tea-parking-lot-video

Reason.com: Zero Tolerance Watch, Teen Faces Felony Charges for Science Experiment

Meet Kiera Wilmot, a 16-year-old student in Bartow, Florida. Before last week, Bartow High School Principal Ron Pritchard tells WTSP-TV, she had “never been in trouble before. Ever.” But then, the station reports, she

The face of terror, apparently.mix[ed] household chemicals in a tiny 8-ounce water bottle, causing the top to pop off, followed by billowing smoke in [a] small explosion.
Wilmot’s friends and classmates said it was “a science project gone bad, that she never meant to hurt anyone.”
Even the teen’s principal said, “She made a bad choice. Honestly, I don’t think she meant to ever hurt anyone. She wanted to see what would happen [when the chemicals mixed] and was shocked by what it did. Her mother is shocked too.”
The explosion happened around 7 a.m. Monday morning on school property, and no one was hurt. Staff, along with the school resource officer, acted quickly.
The principal told 10 News, “She told us everything and was very honest. She didn’t run or try to hide the truth. We had a long conversation with her.”

So: No one was hurt. There’s no sign that Wilmot was up to something malevolent. The kid’s own principal thinks this wasn’t anything more than an experiment, and he says she didn’t try to cover up what she had done. What punishment do you think she received? A stern talking-to? A day or two of after-school detention? Maybe she’ll have to help clean up the lab for a week?

Nope. The budding chemist has been kicked out of school and charged with a couple of felonies:

Wilmot was arrested Monday morning and charged with possession/discharge of a weapon on school property and discharging a destructive device.
The teen was expelled and will now complete her education in an expulsion program.

Miami New Times reports that Wilmot will be tried as an adult.

A statement from Polk County Schools says, “We urge our parents to join us in conveying the message that there are consequences to actions. We will not compromise the safety and security of our students and staff.” As far as I can tell, the only person in this story facing a serious threat to her safety and security is the girl who might have to serve a prison sentence — but then, she doesn’t go to Bartow High anymore, so perhaps the school system doesn’t think she counts.

Gene Healy: No More Tax Dollars for Presidential Libraries, Let America’s former presidents burnish their legacies on their own dimes.

Last week, at the dedication of the George W. Bush Presidential Library and Museum, President Obama and former Presidents Bill Clinton and Jimmy Carter put partisanship aside and descended on the Southern Methodist University campus in Dallas to say nice things about our 43rd president, (They’re all in the same racket, after all.)

At 226,560 square feet and a cost of $250 million, the Bush Presidential Center is the biggest and most expensive yet of the 13 presidential libraries that one scholar has derisively called “America’s Pyramids.”

One of the key exhibits at the Bush megalith is Decision Points Theater, a virtual Situation Room wherein visitors can “consult” video advisers and make their own calls on some of the “Decider’s” key decisions, like war with Iraq, the response to Hurricane Katrina, and bailing out the banks.

As Bush put it in an interview with CNN’s John King, “hopefully, people will go to the Decision Points Theater and say, ‘Wow, I didn’t understand that’ or ‘I now understand it better.’ ”

In Decision Points Theater, if you decide not to go to war with Iraq, “43” himself comes onscreen to tell you flatly that you’re wrong: “Saddam posed too big a risk to ignore. … The world was made safer by his removal.” Bush is entitled to his own spin on the decisions he made, but he should burnish his legacy on his own dime.

Though the libraries’ construction is privately funded, they’re managed by the National Archives and Records Administration, using federal tax dollars.

Last year, it cost the American taxpayer some $75 million to keep them open.

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Click below for the full article.

http://reason.com/archives/2013/04/30/no-more-tax-dollars-for-presidential-lib

CBS Seattle: Teachers Shocked, Frightened After School Holds Unplanned Shooting Drill

Teachers were shocked and caught off guard when an Oregon school held a school shooting drill.

The Oregonian reports Pine Eagle Charter School in Halfway held the drill last Friday as children were home for an in-service day. Two masked “gunmen” burst into a meeting room holding 15 teachers firing blanks. Teachers only realized it wasn’t a real shooting when none of them were bleeding.

“There was some commotion,” school principal Cammie DeCastro told The Oregonian.

Teachers were frightened about what happened.

“I’ll tell you, the whole situation was horrible,” Morgan Gover told the paper. “I got a couple in the front and a couple in the back.”

The school held the unplanned drill in hopes to better educate teachers on how to deal with a school shooting. Of the 15 teachers in the room, only two would have survived.

“I’m in charge of a pile of kids,” Gover told The Oregonian. “It made me analyze as a teacher what my role is for these babies.”

The drill has been criticized but the school has dismissed the criticism.

“For us not to know how we were going to respond is leaving us open,” DeCastro told The Oregonian.

DeCastro added that arming teachers or having armed volunteers at the school are possible outcomes for the future.

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Click below for the full article.

http://seattle.cbslocal.com/2013/05/02/teachers-shocked-frightened-after-school-holds-unplanned-shooting-drill/

Motley Fool: GM Still Taking Taxpayers for a Ride

Last September when Reuters calculated that General Motors  (NYSE: GM  )  was losing almost $50,000 on every Chevy Volt it sold the carmaker was apoplectic with indignation at the “grossly wrong” numbers being thrown around. Sure they were losing money, every new technological advance does, but as they built more cars and then released Volt 2.0 they would become profitable.

Well, GM has certainly built more Volts over the last six months or so and they’ve even sold a few more, too, but then so has Tesla Motors  (NASDAQ: TSLA  )  and Nissan  (NASDAQOTH: NSANY  ) . In fact Tesla sold more of its all-electric Model S cars in the first quarter of the year than GM did with its Volt, and Nissan turned itself around enough so that its LEAF outsold the Volt in March.

We’ll get the April sales numbers in a day or so to see if any traction has been made as spring has gotten under way, and if GM was able to recover from March sales plunging 35%. One thing hasn’t changed month to month and that is that the Volt is still a money-losing proposition for GM and for the taxpayers who bailed it out.

In a presentation yesterday, CEO Dan Akerson admitted GM is still losing money on every Volt sold and will continue to do so for the foreseeable future. So what’s the solution? Not to admit defeat, that’s for sure, at least certainly not when the taxpayer is still nominally footing the bill for your company. Nope, what you do is double down and say you’re going to make even more of your money-losing cars than you did before and you’re going to make them even cheaper than they are now!

Akerson didn’t say how much GM was losing on each Volt, but he did say that if it ever hoped to make a profit on them the carmaker would need to cut as much as $10,000 from the cost of production. That, however, won’t be happening until the next-gen model is introduced, which won’t be until 2015 or 2016 at the earliest.

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Click below for the full article.

http://www.fool.com/investing/general/2013/05/01/gm-still-taking-taxpayers-for-a-ride.aspx

The Week: Conservatives must end their incoherence on counter-terrorism

What do we stand for? It’s not easy to pin down, and that’s a major problem.

In politics, effective leadership requires more than passionate words. You also have to strategize toward an achievable end game. And you must communicate that plan and those goals to your constituents.

Nowhere is this disconnect more apparent than with counter-terrorism policy in America today. Nowhere is true leadership more greatly missed.

In the Bush years, America’s counter-terrorism strategy was driven by unapologetic strategic purpose — deterring state adversaries and defeating international terrorists. This was a worldview with a vision — more freedom would equal more peace. Whether you agreed with him or not, we all knew where George W. Bush stood with it came to fighting terrorists.

Today’s conservatives have failed to offer such a compelling and clear vision on counter-terrorism.

We can’t agree on the threat and how to handle it. We can’t agree on our objectives, and how to achieve them. What do we stand for? It’s not easy to pin down, and that’s a major problem.

Listening to some conservative politicians, you’d consider the Islamist terrorist threat as unitary in nature. But this understanding is neglectful of undeniable facts — the fact, for example, that Shia and Sunni extremists hate each other almost as much as they hate us. It’s not simply us vs. them. There are many thems, and sometimes, it’s them vs. them.

We conservatives have also allowed our counter-terrorism discourse to be tarred by sociopaths like Pamela Geller; deluded souls who see all Muslims as a threat. We have to be smarter and better than this.

We also need to get away from the common conservative belief that regards engagement with the Islamic world as unnecessary. The reverse is true. If we conservatives are silent, Muslims around the world hear only one voice from America — that of President Obama. And let’s face it — his message, even if it’s well-intentioned — is essentially one of equivocation. It breeds the false idea of an America without courage of conviction. An America unworthy of friendship and unworthy of respect.

It needn’t be this way.

Many commentators, especially on the left, believe that America is hated abroad because of our supposedly ill-conceived actions. In reality, though, we’re hated based on the false perception of some nefarious motive behind our actions. This is a critical distinction. We’re hated because instead of articulating why we support Israel, we just support Israel. We’re hated because instead of explaining why Guantanamo Bay must remain open, we just keep it open. We’re hated because we wage wars of liberation and then quietly wish for authoritarians. We constantly fail to justify our actions — even when clear justifications exist.

Conservatives need to step in and remedy this. Defending America doesn’t just require arms. It also requires explanation.

The urgency is profound. But first, we conservatives must get on the same page. And we must get serious.

Click below to read Tom Rogan’s article on The Week’s website.

http://theweek.com/article/index/243443/conservatives-must-end-their-incoherence-on-counter-terrorism