Daily Archives: March 14, 2014

ZeroHedge – Massive Fraud Has Been Unveiled At The EPA (Again) – 14 March 2014

ZeroHedgeSubmitted by Mike Krieger of Liberty Blitzkrieg blog,

While I doubt anyone reading this will be shocked by major fraud at the Environmental Protection Agency (EPA), the potential extent of the fraud is huge, and we still have no idea how big it is.

A report released by the EPA’s Inspector General found that over 90% of sampled transactions were for “prohibited, improper, or erroneous purchases.” Worst of all, the sample size was extremely small at only 80 transactions out of 67,000 transactions during the sample period. Considering EPA cardholders spent $29 million in taxpayer dollars in 2012 with a potential 90% fraud rate, you do the math.

Read the full story at: www.zerohedge.com / link to original article

John Ward – UK Trade Deficit: The Osborne Economy Scam Isn’t Unravelling, It’s Imploding – 14 March 2014

Today’s ONS figures complete an unmitigated rout of the UK recovery mythThe first piece of bad news is that overall export volumes are down. Trust me Mr Osborne, you can’t have a nascent recovery and falling export volumes.The second bad news is that, going forward, exports of goods are going backwards, as it were.

Exports of UK goods decreased by 4.0% between December 2013 and January 2014 to £24.2 billion. This gave a Britain an overall trade deficit in goods and services of £2.6 billion in January, compared with a deficit of £0.7 billion in the previous month.

This strongly suggests that, far from rebalancing, the UK economy is becoming even more biased toward services – especially financial services. And that is nailed by the appalling goods deficit:The deficit on trade in goods was £9.8 billion in January 2014.

The deficit on our goods export volumes is now a staggering 38% of the total. We are making fewer goods and importing more of them – the total imported in January was £34bn.

Now for the third piece of broader, longer-term bad news: Exports to countries within the EU decreased by 1.9% to £37.1 billion in the three months ending January 2014. But imports from EU countries also decreased 1.7% to £54.6 billion over the same period.

This is a most unusual statistic: the EU’s economy is starved of investment, and thus exporting less…but it is also fiscally strapped, and thus importing less.

Whichever way you cut that, the EU is in very deep trouble. It is stagnating, but the level of stagnation and debt is being cleverly hidden by the ECB under Mario Draghi. But Georgie and Dave want to stay in.

If so, you’d hope we could see an improvement in UK exports to non-EU countries, right? Nope, they fell too.

Now – using that as the segue – let’s move to the fourth piece of even broader bad news: the continuing fall in exports to Asia and so forth highlights what everyone who’s awake worked out by late last year – the entire globe is tumbling into a slump.

Now I have more news for the Chancellor: no British Government in history – not even at the height of Palmerston’s gunboat diplomacy – has ever gone alone into recovery when the world was shuddering to an economic halt.

But can we be sure the world is heading that way? Well, China’s awful data earlier this week was another massive hint. But perhaps the biggest signal of all is what’s happening to copper prices. Copper is one of the most broadly used industrial metals on Earth – making everything from central heating pipes to the rivets in upmarket jeans. It is therefore always seen as an indicator of industrial demand. It is, to be frank, never wrong on that dimension.

The copper price is collapsing…and the trend is accelerating. Since yesterday, copper on the London Metal Exchange has dropped a whopping 9%. The day before, Shanghai-traded copper futures fell 5.4%, a fifth straight daily loss.

As it happens, market traders generally on the bourses have also always seen falling copper prices as the beginning of the end for any Bull market.

We now have some very strong indicators that both an economic slump and a financial crash are coming….very soon.

The week started here at The Slog with a vicious demolition of the so-called optimism signals about UK recovery. The next day I pointed out that solid sales data suggested the opposite of recovery. On Wednesday I broke the news that Bank of England Governor Mark Carney thinks the recovery is a mirage. Yesterday, I showed how our investment levels are too poor to support a proper across-the-piece recovery. And today, the export figures from the ONS confirm the unreality of this whole recovery myth: exports are down, and goods exports are awful.

It wasn’t hard to show this. Anyone spot Ed Balls getting anywhere near it?

Even if we were equipped to sell desirable goods, the world is heading for an all-time slump. As long as we have nothing to sell and nobody to buy, there palpably obviously can’t be a recovery. There never was…and there never will be until we have a Government in power prepared to face the truth, and with the experience to do something about it. That knocks all four existing Parties out of the running.

Anyway, we have one late football result:

Slog United 5 Osborne Telegraph Wanderers 0.

Sadly, the result came in much too late for anyone’s pools coupon. Least of all Britain’s.

Earlier at The Slog: Even the content in Britain’s libraries is now under surveillance and censorship

www.hat4uk.wordpress.com / link to original article

Sophia Love- The Bully – 14 March 2014

Sophia Love

Sophia Love

There is little need for a judge and jury in a place of equality and sovereignty.  In fact, these terms would be obsolete; reminders perhaps of such notions from a time long ago.

The whole concept of one sovereign being standing in authority over another sovereign being is very much like the bully in the playground.  Cartoon depictions of this child show him to be typically male and larger than average with less intelligence.  This image defines the justice system as it currently stands. Continue reading

The Hyper Report – 140314 – Ukraine Bank Runs – 14 March 2014

Continue reading

InternationalNewYorkTimes – Senator’s Simmering Battle With C.I.A. Over Detentions Report – 14 March 2014

International New York Times

(Lucas : We see again an fine example of 180 degree turns as Feinstein in now defending the rights…. of …. Do not be fooled it is all about saving face and thinking of self-interest and re-election which means money….)

By and

 WASHINGTON — Senator Dianne Feinstein gave no warning before she strode to the Senate floor on Tuesday morning to deliver an attack accusing the C.I.A. of spying and intimidation — not to her Senate colleagues, and not to the C.I.A. But she was well aware of the significance of the moment she had chosen to throw her punch.
Read the full story at: www.nytimes.com / link to original article

TheIndependent – Satyajit Das: The G20’s Lords of Finance will magically conjure up growth. Really? – 14 March 2014

The Independent

Das Capital: Crucially, the G20 failed to confront the fragility of many emerging markets

By Satyajit Das

Quote: Advanced economies committed to a co-ordinated push to boost growth by more than $2 trillion (£1.2 trillion) over the next five years at last month’s G20 meeting in Sydney. This additional growth would be driven by “concrete” macroeconomic policies and structural reforms. But there were no specific initiatives, other than a call for additional investment, especially in infrastructure.

Read the full story at: www.independent.co.uk / link to original article

TheIndependent – Government Accused Of Deliberate Attempt To Cover Up Fraudulent, Incompetent And Embarrassing Outsourcing Contracts – 14 March 2014

The Independent

By Nigel Morris

The Government is today condemned by MPs of all parties for hiding behind a “veil of secrecy” over the award of contracts worth nearly £100 billion a year to huge private companies.

www.independent.co.uk / link to original article