- The quote in the headline comes from Ron Paul, and it should be the goal of every conservative lawmaker in the entire country. When professional politicians tell you that they are in favor of reforming the tax code or reducing taxes a little bit, essentially what they are telling you is that they are perfectly fine with the status quo. They may want to tweak things slightly, but in general they are content with big taxes, big spending and big government.
- I spent an entire year getting a Master of Laws in Taxation at the University of Florida Law School, and in my opinion the best thing that Congress could do to the tax code would be to run it through a shredder and put it in a dumpster. As I noted the other day, the tax code is now more than four million words long and it takes Americans about six billion dollars a year to comply with it. Those that believe that they are offering the American people a “solution” by proposing to tinker with this abominable mess are just fooling themselves.
Read more at:‘When I say cut taxes, I don’t mean fiddle with the code. I mean abolish the income tax and the IRS, and replace them with nothing’
- Back in April, Judicial Watch filed a FOIA request for documents related to the unmasking of “the identities of any U.S. citizens associated with the Trump presidential campaign or transition team” by Obama’s National Security Advisor Susan Rice. Unfortunately, and quite conveniently for members of the Obama administration, Judicial Watch has been informed by the National Security Council that records related to their request can not be shared because they ” have been transferred to the Barack Obama Presidential Library” and will “remain closed to the public for five years.”
- Here is the full letter received from the National Secruity Council:
- “Documents from the Obama administration have been transferred to the Barack Obama Presidential Library. You may send your request to the Obama Library. However, you should be aware that under the Presidential Records Act, Presidential records remain closed to the public for five years after an administration has left office.”
Read more at:FOIA Request On Susan Rice’s Unmaskings Rejected Because “Records Were Moved To Obama Library”
- The “fixes” to the stagnation of postwar Capitalism in the 1970s were financialization, globalism, and the sustained expansion of debt–all have run out of steam.
- Many of us have written about cycles in the past decade: Kondratieff economic cycles, business/credit cycles, the Strauss–Howe generational theory (an existential national crisis arises every four generations, as described in their book The Fourth Turning), and long-wave cycles of growth and decline, as described in seminal books such as The Great Wave: Price Revolutions and the Rhythm of History and War and Peace and War: The Rise and Fall of Empires.
1. The exploitation of commoners by financial/political Elites reaches extremes that create systemic instability as commoners no longer have the means to improve their conditions.There is another Rhythm of American History that few recognize: the economic, social and political crises sparked by exploitive Elites. There are two dynamics that drive these crises:
Read more at:We’re in a Boiling-Point Crisis of Exploitive Elites
- Shortly after Russia’s deputy foreign minister slammed the US downing of a Syrian Su-22 jet as an “act of aggression” and “support for terrorists”, Russia announced that starting June 19 it was halting all interactions with the US under the framework on the “memorandum of incident prevention in Syrian skies”, the Russian Defense Ministry said on Monday, thereby assuring the probability of even more deadly escalations between Russia and the US-led coalition.
- In retaliation, the ministry warned that Russian missile defense will intercept any aircraft in the area of operations of the Russian Aerospace Forces in Syria,
- “In areas where Russian aviation is conducting combat missions in the Syrian skies, any flying ojects, including jets and unmanned aerial vehicles of the international coalition discovered west of the Euphrates River will be followed by Russian air and ground defenses as air targets,” the Russian Defense Ministry announced, quoted by Sputnik.
Read more at:Russia Halts Cooperation With US In Syria, Will “Intercept Any Aircraft” In Russian Areas Of Operation
- The horrific shooting spree on the practice field of the GOP’s congressional baseball team was hardly the end of this week’s madness on the Potomac.
- As it happened, the former was apparently another random eruption by of one of America’s sicko lone wolves — a wretch in the same league as South Carolina church killer, Dylann Roof.
- Notwithstanding that the latter had littered the nether regions of the internet with racist rantings while the former was apparently a prolific Never Trumper left-winger, neither represented a real threat to the nation’s equanimity — even if they did bring a savage rain of violence to bear on those unfortunate dozens caught in their immediate line of fire.
- Not so for the 325 million American citizens who were pounded upon during the balance of the day by the allegedly “sane” Imperial City officialdom which rules the roost in America.
Read more at: David Stockman Blasts The “Derangement & Danger On The Potomac“
- At first, deny, deny, deny. Then taxpayers get to bail out bondholders.
- Spain’s Banco Popular had the dubious honor of being the first financial institution to be resolved under the EU’s Bank Recovery and Resolution Directive, passed in January 2016. As a result, shareholders and subordinate bondholders were “bailed in” before the bank was sold to Santander for the princely sum of one euro.
- At first the operation was proclaimed a roaring success. As European banking crises go, this was an orderly one, reported The Economist. Taxpayers were not left on the hook, as long as you ignore the €5 billion of deferred tax credits Santander obtained from the operation. Depositors and senior bondholders were spared any of the fallout.
- But it may not last for long, for the chances of a similar approach being adopted to Italy’s banking crisis appear to be razor slim.
Read more at:Fear of Contagion Feeds the Italian Banking Crisis
- We want this time to be different so badly, we can almost taste it.
- If you visit San Francisco, you will find it difficult to walk more than a few blocks in central S.F. without encountering a major construction project. It seems that every decrepit low-rise building in the city has been razed and is being replaced with a gleaming new residential tower.
- Parking lots have been ripped up and are now sprouting condos and luxury rental flats.
- This boom is not overly surprising, given the centrality of San Francisco and the S.F. Bay Area in the Hipster-Techie Mental Map which I have sketched here for those who may still suffer from delusions that Washington D.C. and New York matter–(hint: they don’t.)
Read more at:Can We See a Bubble If We’re Inside the Bubble?