In order to sidestep and avoid Democratic obstruction with a Trump Supreme Court nominee; It is time Trump ordered Republicans Senators to employ  the “Constitutional Option” or Nuclear Option. The nuclear or constitutional option is a parliamentary procedure that allows the U.S. Senate to override a rule or precedent by a simple majority of 51 votes, instead of by a supermajority of 60 votes. The presiding officer of the United States Senate rules that the validity of a Senate rule or precedent is a constitutional question. They immediately put the issue to the full Senate, which decides by majority vote. The procedure thus allows the SenateRead More →

The ECB’s nationalization of the European corporate bond sector continues. In the ECB’s latest update, the six central banks acting on behalf of the Euro system provided an update on the list of corporate bonds they bought. They bought into 810 issuances with a total of €573bn in amount outstanding. For the week ending 27th January, the bond purchases stood at €1.9bn across sectors. This increases the number of securities held by the ECB to 813, and lift the ECB’s total corporate bond holdings to €58.82b, which means that as of the latest weekly data, the ECB now owns 10.2% of the total €575.42BN inRead More →

Submitted by Charles Hugh-Smith via OfTwoMinds blog, How about moving the power to create money from the apex of the pyramid down to its lowest level? Let’s spend a moment deconstructing the word “capitalism.” Note it contains the word Capital. So far so good. Obviously the key concept here is capital. So what is “capital”? It turns out there are multiple kinds of capital. The most familiar kinds are tangible: cash, orchards, factories, water rights, tools, and so on. Then there’s credit. If you have unlimited credit at very low rates of interest, you can buy all the tangible capital you want, as long asRead More →

I can understand the cost of healthcare rising as we have many new procedures and remedies that we are able to purchase. Healthcare that was not purchased 20 years ago. Cancer remedies, bionic joints. All of these are added purchases…What is responsible for the added cost of a K-12 and 4 year college education???Read More →

Barack Obama Is Now The Only President In History To Never Have A Year Of 3% GDP Growth Following today’s extremely disappointing US GDP growth data, we have the final nail in the coffin of President Obama’s economic reign. Not only is the average annual growth rate of just 1.48% during Obama’s business cycle the weakest of any expansion since at least 1949, he has just become the only President to have not had even one year of 3% GDP growth. An average annual GDP growth of 1.48% during Obama’s two terms…   As a reminder to a few blinkered media types, this means PresidentRead More →

Well, Trump slept on it, and… nothing changed. Confirming that the tensions between the US and Mexico are only set to escalate after a diplomatically volatile day, in which president Pena Nieto unexpectedly pulled out of his Jan. 31 meeting with the US president, prompting the White House to first suggest it could impose a 20% border tax on Mexican imports, only to back off from the statement hours later, moments ago Trump tweeted that “Mexico has taken advantage of the U.S. for long enough. Massive trade deficits & little help on the very weak border must change, NOW!” Follow Donald J. Trump ✔@realDonaldTrump MexicoRead More →

Submitted by Charles Hugh-Smith via OfTwoMinds blog, Meanwhile, back in reality, household income for the bottom 95% has declined while the owners of capital and their privileged, protected servants in the Establishment have gorged themselves on private wealth. As noted yesterday in The Collapse of the Left, the working class has finally awakened to the Left’s betrayal and abandonment of labor in favor of the protected privileges of the elitist Establishment. I also described the Left’s Great Con: To mask the collapse of the Left’s economic defense of labor, the Left has substituted social justice movements for economic opportunities and security. This has succeeded brilliantly,Read More →

In Blow To Theresa May, UK Supreme Court Rules Parliament Must Vote Before Brexit Can Start In a blow to Theresa May’s ambitions to implement a “clean Brexit”, on Tuesday morning UK’s Supreme Court ruled the UK Prime Minister can’t start the Brexit process without approval from Parliament, a decision that could potentially complicate her path toward a clear break from the European Union. Eight justices voted against the government and three voted in favor of it, in a decision that was widely expected. The case had been brought by a group of British citizens opposed to Brexit with the help of some of theRead More →

In order to sidestep and avoid Democratic obstruction with a Trump Supreme Court nominee; are you in favor of the Senate employing the “Constitutional Option” or Nuclear Option”?? The nuclear or constitutional option is a parliamentary procedure that allows the U.S. Senate to override a rule or precedent by a simple majority of 51 votes, instead of by a supermajority of 60 votes. The presiding officer of the United States Senate rules that the validity of a Senate rule or precedent is a constitutional question. They immediately put the issue to the full Senate, which decides by majority vote. The procedure thus allows the Senate toRead More →

Submitted by Charles Hugh-Smith via OfTwoMinds blog, The Left is not just in disarray- – it is in complete collapse because the working class has awakened to the Left’s betrayal and abandonment of the working class in favor of building personal wealth and power. The source of the angry angst rippling through the Democratic Party’s progressive camp is not President Trump–it’s the complete collapse of the Left globally. To understand this collapse, we turn (once again) to Marx’s profound understanding of the state and capitalism. We turn not to the cultural Marxism that is passingly familiar to Americans, but to Marx’s core economic analysis, whichRead More →

The $7 billion school improvement grant program: Greatest failure in the history of the US Department of Education? Education Font SizeAA The final IES report on the School Improvement Grant program is devastating to Arne Duncan’s and the Obama administration’s education legacy. A major evaluation commissioned by the U.S. Department of Education and conducted by two highly respected research institutions delivered a crushing verdict: The program failed and failed badly. (The Washington Post’s article by Emma Brown does an exceptional job recounting the administration’s $7 billion folly.) Arne Duncan. REUTERS/Jeff Haynes. Despite its gargantuan price tag, SIG generated no academic gains for the students itRead More →

Submitted by Johnny Kampis via The Foundation for Economic Education, Migration patterns for 2016 show that Americans tended to move away from high-tax states and into states where residents keep more of what they earn. United Van Lines, the nation’s largest moving company, recently released its annual movers study report showing that South Dakota overtook Oregon as the top inbound destination. Generally, more people moved toward the West, and states in the Northeast saw the largest exodus of residents. The top four outbound states in 2016, in order, were New Jersey, Illinois, New York, and Connecticut. (Photo: Tax Foundation) The Tax Foundation pointed out inRead More →

Pay attention to the reaction Democrats have had to a peaceful transition of power,,these are some of you neighbors, never underestimate these animals, they count on your complacency..their culture is anti freedom…they are unable to handle freedom as you can see, that is why the continually vote freedom away!!!Read More →

Submitted by Tony Heller via RealClimateScience.com, Climate Central just ran this piece, which the Washington Post picked up on. They claimed the US was “overwhelmingly hot” in 2016, and temperatures have risen 1,5°F since the 19th century. The U.S. Has Been Overwhelmingly Hot This Year | Climate Central The first problem with their analysis is that the US had very little hot weather in 2016. The percentage of hot days was below average, and ranked 80th since 1895. Only 4.4% of days were over 95°F, compared with the long term average of 4.9%. Climate Central is conflating mild temperatures with hot ones. They also claim US temperatures rose 1.5°F since the 19th century,Read More →

1. Chart of the Day I (above). Detroit public charter schools out-performed traditional Detroit public schools in the last few years, and it’s not even close according to research conducted by the Mackinac Center for Public Policy’s Ben DeGrow, summarized in a blog post here: Detroit Charters Far Outperform Traditional Schools (see full reports here and here). As the data displayed above show, more than half of traditional public schools received a failing letter grade of F based on multiple years of testing data that are adjusted for student poverty rates, compared to fewer than one-quarter of charter schools receiving a failing grade. On theRead More →

Submitted by Antony Davies and James Harrigan via InsideSources.com, Hugo Chavez’s successor, socialist President Nicolas Maduro has raised the nation’s minimum wage for the fifth time in a year. The whopping 50 percent wage hike raises the monthly wage to between $12 and $60, in U.S. terms, depending on whether one goes by the state-controlled or the more accurate black-market exchange rate. No matter what, though, the measure will provide no relief given Venezuela’s projected 1,600 percent inflation rate. Decades of Chavez-ism have finally demonstrated Margaret Thatcher’s dictum: Socialists “always run out of other people’s money.” Venezuela’s paper money has lost so much value thatRead More →

Submitted by Jonathan Rochford via Narrow Road Capital, The recent blow-up of the Dallas Police and Fire Pension System was entirely predictable. Whilst it is tempting to blame unusual circumstances for the recent lock-up of redemptions and likely substantial reductions to pensions for those still in the fund, many other American pension funds are heading down the same road. The combination of overpriced financial markets, inadequate contributions and overly generous pension promises mean dozens of US local and state government pension plans will end up in the same situation. The simple maths and political factors at play mean what happened at GM, Chrysler, Detroit andRead More →

In a “mass layoff” event reported late last week by the Department of Labor, the Clinton Foundation announced it would lay off some 22 employees at the Clinton Global Initiative, which attained notoriety during the John Podesta leaks, when the various details of the fallout between between CGI head Doug Band and Chelsea Clinton were revealed; it also emerged that long-time Bill Clinton friend Band was soliciting donations for Clinton through his PR firm, Teneo in an sordid example of “pay for play” which most of the mainstream media refused to cover, especially after Band emailed Podesta “If this story gets out, we are screwed.”Read More →

Early on Thursday morning, in a 51-48 vote, the Senate took the first concrete step toward dismantling Obamacare, when it voted to instruct key committees to draft legislation repealing Barack Obama’s signature health insurance program. Republicans needed a simple majority to clear the repeal rules, instructing committees to begin drafting repeal legislation, through the upper chamber, with the vote falling largely along party lines. Rand Paul was the lone Republican to vote against the budget resolution because it didn’t balance. Paul said in a statement after the vote that while he supports nixing ObamaCare “putting nearly $10 trillion more in debt on the American people’sRead More →

Submitted by Nick Bernabe via TheAntiMedia.org, Long-simmering social tensions in Mexico are threatening to boil over as failing neoliberal reforms to the country’s formerly nationalized gas sector are compounded by open corruption, stagnant standards of living, and rampant inflation. The U.S. media has remained mostly mute on the situation in Mexico, even as the unfolding civil unrest has closed the U.S.-Mexico border in San Diego, California, several times in the past week. Ongoing “gasolinazo” protests in Mexico over a 20 percent rise is gas prices have led to over 400 arrests, 250 looted stores, and six deaths. Roads are being blockaded, borders closed, and government buildings areRead More →

As it began so it will finish. Putting the exclamation point on a trend that has marked Obama’s entire presidency, in the final Obama jobs report, the BLS announced that the total number of people not in the labor force grew once more, rising by 18,000 in December, and a whopping 841,000 in the past three months, to a new all time high of 95.102 million Americans no longer in the workforce. This meant that the perennial bogeyman of the Trump administration, the collapsing labor force participation rate, remained flat near 35 year lows, risint fractionally from last month to 62.7% as a result ofRead More →

Back in September, we noted that, in a surprisingly logical decision particularly for a state like California which is typically devoid of all reason, a court upheld the rights of Marin County (and it’s taxpayers) to reduce final year salary levels utilized to calculate pension payments.  The ruling was meant to protect taxpayers against “salary spiking,” a practice whereby union employees artificially drive up their final year salary, by taking cash vacation payouts or 1x bonus payments for example, in an effort to game the annual pension payment they’ll then receive in perpetuity.  Now, according to Pension & Investments, a second California court in SanRead More →

California’s liberal lawmakers in Sacramento are certainly well left of center and maybe a bit kooky and have done something quite ridiculous by passing Senate Bill No. 1322, Senate Bill No. 1322. Below is the first page of SB1322 which notes that while “existing law makes it a crime to solicit or engage in any act of prostitution” SB1322 “would make the above provisions inapplicable to a child under 18 years of age.” Of course, as the LA Times pointed out, the bill, which was authored by Los Angeles Democrat Holly Mitchell, is founded on the premise that keeping young children out of the juvenile justice systemRead More →

As noted yesterday, for the first time in three years, and only the second time in history, bitcoin rose above $1,000 in Yuan-denominated Chinese trading, however it was limited to the lower side of this “round number” psychological barrier in US trading, as BTC flirted with $999.99 for most of the day on the popular Coinbase exchange, without crossing it. Overnight, however, Chinese demand proved too great and US markets had no choice but to arb the difference. So with Bitcoin trading in China at an implied price of over $1,050 at this moment, bitcoin finally soared above $1,000 in the US as well, tradingRead More →