Buried Headlines: June 16, 2012

The fat lady is warming up in the green room. Anyone who tells you that "now is a great time to buy ______" should be admonished. Tell them you're shorting the market and building an arc.

Central Banks Prepare For Turmoil After Greek Vote

Greek Election Cheat Sheet

Deutsche Bank: "The Spanish Recapitalization Is Not Working" - A Market Shock Is Required

In other news:

They Own Us: Foreign Holdings Of U.S. Debt Hit Record High

WashCompost: Amnesty "Could" Tighten Competition For Jobs, College

ECOMINOES FLASHBACK: Tough Economic Times Require Moratorium On Immigration

Ruth Bader Ginsburg Predicting Obamacare Overturn?

What Peak Oil?

Thumbs Down On ECOMINOES's FB Page's Thumbs Ups

I've tweeted about this, but, to say the very least, the number of likes on ECOMINOES's FB page is lagging behind the popularity of the blog. The social media buttons on the right navbar are unreliable, so if you would be so kind and like the page from its source, I'd really appreciate it. Thanks again!

Bastiat: Libertarian And Pro-Life Not Mutually Exclusive?

Debating some twitter followers over the idea that Obama's amnesty violates the libertarian ideal of national sovereignty, I cited libertarian godfather Frédéric Bastiat's belief that government exists solely to defend life, liberty, and property. Thinking about the word "life", I began to wonder what Bastiat would think about abortion. I found the following quote in the godfather's seminal writing The Law:

Life Is a Gift from God. We hold from God the gift which includes all others. This gift is life -- physical, intellectual, and moral life.  But life cannot maintain itself alone. The Creator of life has entrusted us with the responsibility of preserving, developing, and perfecting it.

An agnostic, I have little opinion on abortion. But I'm starting to wonder if Bastiat would have been pro-life.

Red Alert For U.S. If Greece Exits Euro

The AP of all sources published today an excellent outline of how contagion associated with a Greek exit from the Euro would affect the U.S. To put it mildly, the scenario is frightening. In a nutshell, Greece's return to the Drachma would cause hyperinflation in the land of olives and government handout connoisseurs, which would cause bank runs throughout Europe and a massive sell-off of Eurozone bonds (especially in the PIIGS nations), which would create a souring of credit default swaps and derivatives held by the U.S. (See 2008 Financial Crisis.) Additionally, the exit would create worldwide deflation (a very big no no), pushing the world deeper into recession. Incoming torpedo.

Buried Headlines: June 15, 2012

A libertarian is not an anarchist. A libertarian believes in national sovereignty as well as individual sovereignty. As a libertarian, I find Obama's amnesty repugnant. Unfettered immigration has never in the history of the world ended well. I don't care that the U.S. is a nation of immigrants. It is also a nation with chronic unemployment and crushing debt. We literally cannot afford amnesty.

Obama Ignores Questions About Controversial De-Facto Amnesty

ECOMINOES FLASHBACK: Tough Economic Times Require Moratorium On Immigration

In other news:

Very Bad: Only 1 In 10 Long-Term Unemployed Find Work

ECOMINOES FLASHBACK: The Green Shoots Of Civil Unrest

Nation Of Ignoramuses: Most Americans Blame Bush For Poor Economy

WSJ: Whose Fault Is Today's Bad Economy? 

Kudlow: Are We Currently In A Global Recession?

U.S. To Spend 60 Percent More Per Person Than Spain Over Next 5 Years

Greek Candidates Make Final Pleas Before Vote With Euro at Stake

What Are Bonds Worried About That Stocks Aren't?

Apologies For The Light Original Content This Week

I've been busy this week fighting for my daily bread in the Obama Economy, so I haven't had as much time as I'd like to dedicate to ECOMINOES. I should have more time by the middle of next week. In the meantime, I'll definitely post a Buried Headlines each day, and I'll probably have time to publish one or two original posts. By the way, feel free to help the cause by donating a few bucks. The donate tab is on the upper-right of the screen. Thanks!

Buried Headlines: June 14, 2012

No more blaming Bush, Mr. Obama. The moribund economy is yours.

TrimTabs CEO Provides Realistic View On Economy 

Common Sense: Obamacare To Boost Health Care Spending

And That's If You're Not Unemployed: Wages Have Barely Budged Since ’08

ECOMINOES FLASHBACK: Uncle Sam Threatens The Underemployed's McJobs

President Obama, Spender In Chief

Solyndra Hid Job Losses

In other news:
 
Is Maryland The Next California?

ECOMINOES FLASHBACK: California: The GDP, Budgetary Woes, And Resistance To Austerity Of A PIIGS Nation

NY Health Panel Talks About Wider Food Ban

China Seen As Top Economic Power

Union Uses Desperate Unemployed To Push Political Agenda

The International Association of Machinists and Aerospace Workers (IAM) has been quite aggressive with its recruiting as of late. In case you missed it, I recently published ECOMINOES's first exclusive in which I reported that the IAM has "salts", paid union officials whose sole job is to recruit union members, operating in the new SC Boeing plant. Now, the IAM is "unionizing" the unemployed. From the Daily Caller:

America’s jobless are unionizing, or at least furthering an agenda of one of the nation’s biggest unions. The Union of Unemployed (UCubed) Activists is an Internet-centric “community service project” of the International Association of Machinists and Aerospace Workers (IAM) — one of the country’s largest industrial trade unions.

Okay, sounds harmless enough. The unemployed could use all of the assistance they can get, right? The IAM might succeed in gaining a few new pledges through this campaign, but such a small percentage of the assisted unemployed would be applying for aerospace jobs that the threat of union expansion would be negligible. So the campaign is just good PR, right? Read on.

“Our objective is to pull together unemployed Americans in a way that allows them to connect, communicate and press their political leaders for policies that will get them back to work,” Rick Sloan, UCubed’s executive director and IAM communications director, told The Daily Caller.

Ah ha! The IAM is offering assistance to the unemployed in exchange for political infantry work. In essence, the union is using a massive pool of people at their rock bottoms--people who are often willing to go to any length to secure employment--to press its political agenda. What political agenda? Pushing for government-funded manufacturing and construction projects that would potentially utilize union work! Specifically, New Deal projects:

Buried Headlines: June 13, 2012

Your liberal friends trying to tell you that Obama hasn't spent as much as Bush? Forward them this piece from Art Laffer and Stephen Moore.

A Must Read: Laffer and Moore: Obama's Real Spending Record

The Euro has been circling the drain for some time. The longer the powers-that-be delay the inevitable collapse of the currency, the worse the pain is going to be for the nations in the currency union (and, by extension, the rest of the world). Eurozone politicians and central bankers need to bite the bullet and begin planning for the end of the failed unified currency experiment. The idea of a unified currency for a loose confederation of sovereign states with disparate levels of wealth was ridiculous, and many of the poorer nations were only allowed to participate because the due diligence was conducted by unscrupulous investment banks such as Goldman Sachs, aka Satan's Temple On Earth.

The Euro Titanic Has Now Hit The Iceberg

Greeks Withdraw $1 Billion A Day Ahead Of Vote

History Repeats Itself: Threat Of Hospital Raids Against Immigrants In Greece

More on China's growing dominion over the U.S.:

More Rich Chinese Buy U.S. Property

ECOMINOES FLASHBACK: China Tells U.S. What It Can Do With Its Iran Oil Import Sanctions

In other news:

Top Global Accounting Firm: U.S. Debt Crisis "Bigger Than You Think"

Dems To Obama: Voters Don't Believe Economy Talk

The Cockroach Is Cornered: Holder Calls Contempt Charges Against Him an "Impending Constitutional Crisis"

Buried Headlines: June 12, 2012

Rand addresses the haters:

Peter Schiff Speaks With Rand Paul About Romney Endorsement

ECOMINOES FLASHBACK: In Defense Of Rand's Endorsement Of Romney 

The U.S. regulates itself out of a manufacturing industry and refuses to extract its abundance of newly-found recoverable oil. China just gets what it wants. Who will be the world's superpower a generation from now?

China Tells U.S. What It Can Do With Its Iran Oil Import Sanctions

ECOMINOES FLASHBACK: Ocean Of Oil Discovered In Western Site! Now Only The Government Blocks U.S. Energy Independence

In other news:

And The Dominoes Fall: Indiana Governor Suggests Eliminating Public-Sector Unions 

ECOMINOES FLASHBACK: Union "Salts" Operating In SC Boeing Plant

Four Years Into The "Recovery": New Orleans Newspaper Cuts One-Third Of Staff

"Why Would Politicians Allow The Free Market To Work And Expect To Be Re-Elected?"

Buried Headlines: June 11, 2012

I've been saying all along that this is an economic depression. In fact, the last four years have been one leg down of a continuous economic depression that began with the dot com crash. The scary part: there's another leg down right around the corner.

It's An Economic Depression: Americans’ Wealth Has Dropped 40 Percent Since The Recession

ECOMINOES FLASHBACK: Lost Earnings Too Much For Recovery

ECOMINOES FLASHBACK: Financial Endgame Ahead: Six Head And Shoulders Patterns Portend Disaster

Preparing For The Worst: China Is Hoarding Oil

In other news:

Nice: House Committee Schedules Contempt Vote Against Holder

Congressional Black Caucus: Opposition To The Dictator Is "Racist"

ECOMINOES FLASHBACK: Obama The Dictator: A Timeline

Florida To Sue Feds Over Disenfranchised Voters

How Microsoft And Yahoo Are Selling Politicians Access To You

Manufacturing Boom Is In The Right-to-Work South

ECOMINOES FLASHBACK: Union "Salts" Operating In SC Boeing Plant

VIDEO: Labor Dept. Counts Oil Lobbyists, Garbage Men, Bus Drivers As "Green Jobs"

Obama's Second Worst Violation Of Our Civil Liberties

Of all of the Obama Administration's violations of our civil liberties, requiring the press to use government computers is seconded only to indefinite detention. In case you missed it, the Department of Labor attempted to require the press to report on economic issues using government-issued CPU's, presumably so the Imperial Federal Government could stifle free speech. This is the type of thing you would expected from totalitarian regimes. I've said it a million times now: it's high time to stop the conservative/libertarian bickering and focus on defeating this totalitarian regime. The future of the country depends on it.

In Defense Of Rand's Endorsement Of Romney

I've received so much feedback regarding Rand's endorsement of the presumptive GOP presidential nominee that I feel compelled to address the issue in a post.

It is incredibly naive to believe that 100 years of progressivism can be reversed in one presidential election. Furthermore, the "Ron or nothing" mentality is black-and-white thinking, indicative of inexperience in the real world. No libertarian has ever come close to winning the presidency. Barry Goldwater, the closest so far, got the '64 GOP nomination but was blown-out in the general election. In order for libertarians, who are seen by the American electorate as a new breed in U.S. politics, to gain influence in the federal government, they must work from the ground up. In the business world, new college grads typically aren't offered executive-level positions! Rand, the first libertarian elected to the Senate, is ensuring that libertarians have influence in the next president's administration. He might even secure a cabinet position for his father. Executive Branch influence would be a huge leap for libertarianism. Now tell me again that Rand is "selling out".

VIDEO: Mr. Schiff Returns To Washington (To Fight Another Losing Battle)

While I'm on the subject of Peter Schiff, I have to share this video of his congressional testimony from the other day. Incredibly, after having laid down the smack during his 2011 jobs bill testimony, Congress invited Mr. Schiff to testify about proposed subprime mortgage lending mandates that would require Fannie and Freddie to assume more toxic debt, which would eventually lead to another mortgage meltdown. Schiff was the only person testifying who wasn't a lobbyist for subprime lenders (that's why he was invited), and the subprime pimps did their best to talk over the libertarian investment guru. But fear not, dear readers. He was able to get his point across, albeit to an unreceptive audience of congress critters.

Buried Headlines: June 10, 2012

Another day, another round of bad news for the Amateur-In-Chief.

Obama In 10-Point Drop Among Jews

She's Still Smokin' Hot: "Obama Girl" Won’t Even Endorse Obama

Clinton Advisor: “You Have Vicious People Working For The President”

In other news:

There Was A Plan? Labor Department Backs Off Plan *TO FORCE* Reporters To Use Government-Issued Computers

Details Emerge About Spain's Cramming Down "Bailout" Loan

The Price Keeps Rising: Bailout Of Spain Could Cost $125 billion

Why 2012 Is Shaping Up To Be A Particularly Ugly Year

More Important Than Humans: Spotted Owl Trumps Need For Water

Why Indiana Is Paying $255 Million To Tunnel Under Kentucky's Trees

AUDIO: Insane Geniuses Collide: Peter Schiff On The Robert Wenzel Show

The hyperbolic but correct Robert Wenzel interviewed yesterday the hyperbolic but correct Peter Schiff. The results were, as expected, volatile and even a little frightening. Topics covered included:

- The secretive Koch Conference in Aspen that Peter attended 

- How to get a job on Wall Street 

- How regulators have stifled him in his attempts to grow his business

- The real problem with the Facebook deal 

- What the next crash is going to look like

- Much, much more

So grab some popcorn and maybe even a drink or two. You'll need it.