Tuesday, July 5, 2016
The US spends more than $600 billion a year on war while 15 million of its children go hungry.
Metaphor: Terrorists drove a car loaded with explosives past checkpoint where it was 'screened' by Iraqi police using a what was supposed to be a bomb detector but was in fact a “novelty golf ball finder”. The £15 toy was one of some 7,000 that war profiteer James McCormick sold to Iraq as bomb detectors for thousands of pounds each, netting him £53 million and 10 years in a British prison. Over 4,000 Iraqis have been killed or maimed through this bit of capitalism at its finest, including 149 killed in Baghdad Sunday. Go team.
Political Purity: The Supremes have abolished corruption,just in time for the July 4th orgy of hypocritical pride..
Bad News Good News: Rail traffic in the US continues to fall and now is below levels reached during the Great Recession, partly as a result of our slowing economy and partly because coal is losing some of its share of US electrical generation – as reflected in the huge drop in market cap for the nation's largest coal miners. Murray Energy, the largest privately held US coal miner is threatening to lay off 80% of its workers “because of weak coal markets.”
Clip and Save: “GDP is still weak but not anything to be concerned about. ”
Clean Sweep: Three Barclays employees were found guilty of rigging Libor between 2005 and 2007, two others got away with it and not a single supervisor,manager or executive knew anything about it. Before 2005 and since 2008 there was no manipulation of interest rates.
Opportunity Knocks: Chancellor George Osborn says that Brexit presents a great opportunity for him to lower Britain's corporate tax rates and slash welfare spending by another 67.3% and raffle off the NHS.
Speed Bump: June's auto sales were down 4.6% from May, “much worse than expected.”
Essay Question: “Is the post-1945 order imposed on the world by the United States and its allies unraveling?”
A Parting Shot:
Posted by Charles Kingsley Michaelson, III at 7:05 AM