And what was the final spark to war? The British attempt at confiscating arms stockpiled by the Colonial Militia.
In other words, gun control.
Dave Markowitz's Blog O'Stuff about computing, shooting, RKBA, and whatever else I feel like ranting about.
Now, a recent poll reveals a sudden drop -- only 39 percent of Americans now favor stricter gun laws, according to a new CNN/Opinion Research Corporation poll.
The gradual, long-term decline in support for gun control from the early 1990s to 2008 coincided with a decline in the murder rate. But this year's sudden drop seems to be influenced by politics, namely the Obama administration.
Back in the spring of 1998, when Boris Yeltsin was still at Russia's helm, I led a group of global investors to Moscow to find out firsthand where the Russian economy was headed. My long career with the International Monetary Fund and on Wall Street had taken me to "emerging markets" throughout Asia, Eastern Europe and Latin America, and I thought I'd seen it all. Yet I still recall the shock I felt at a meeting in Russia's dingy Ministry of Finance, where I finally realized how a handful of young oligarchs were bringing Russia's economy to ruin in the pursuit of their own selfish interests, despite the supposed brilliance of Anatoly Chubais, Russia's economic czar at the time.
At the time, I could not imagine that anything remotely similar could happen in the United States. Indeed, I shared the American conceit that most emerging-market nations had poorly developed institutions and would do well to emulate Washington and Wall Street. These days, though, I'm hardly so confident. Many economists and analysts are worrying that the United States might go the way of Japan, which suffered a "lost decade" after its own real estate market fell apart in the early 1990s. But I'm more concerned that the United States is coming to resemble Argentina, Russia and other so-called emerging markets, both in what led us to the crisis, and in how we're trying to fix it.
Over the past year, I've been getting Russia flashbacks as I witness the AIG debacle as well as the collapse of Bear Sterns and a host of other financial institutions. Much like the oligarchs did in Russia, a small group of traders and executives at onetime venerable institutions have brought the U.S. and global financial systems to their knees with their reckless risk-taking -- with other people's money -- for their personal gain.
An economics professor at Texas Tech said he had never failed a single student, but had once failed an entire class.
The class (students) insisted that socialism worked since no one would be poor and no one would be rich, a great equalizer. The professor then said, "OK, we will have an experiment in this class on socialism."
"All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A."
After the first test the grades were averaged and everyone got a B. The students who had studied hard were upset while the students who had studied very little were happy.
But, as the second test rolled around, the students who had studied littlestudied even less and the ones who had studied hard decided that since they couldn't make an A, they also studied less. The second Test average was a D.
No one was happy. When the 3rd test rolled around the average grade was an F.
The scores never increased as bickering, blame, name calling, all resulted in hard feelings and no one would study for anyone else.
To their great surprise all failed. The professor told them that socialism would ultimately fail because the harder people try to succeed the greater their reward (capitalism) but when a government takes all the reward away (socialism) no one will try or succeed.
....Ok that's enough, stop thinking again...
Its very clear that Socialism is designed to remove the remaining value of property from a country and its citizens. And put a burden on all of its citizens to do with less . And give it to the poor for their votes. By force. When the value is gone and and the burden is still required. The people won't cooperate. The US government won't stop spending money it doesnt have. Like France. Then totalitarianism is required. To maintain tax revenue. And it will be implemented. Once that happens all the Socialist instigators like College professors who realize the errors of their ways. Will be arrested and killed. because they know too much.
Anyone who states Socialism helps those who cant help themselves is full of it. It helps those who dont want to help themselves.
The problem with socialism is that you eventually run out of other people's money.
SAN DIEGO, California (CNN) -- Welcome to March Madness on the Potomac.
Many Americans are so emotionally invested in the Obama presidency that they consider it too historic to fail.
They won't tolerate any criticism of the president or his administration, finding it easier to simply attack critics. And whatever goes wrong that they can't defend or deflect, they just blame on George W. Bush.
But to many of the rest of us, it's clear that President Obama is flunking economics. He is trying to do too much at once, and so he is not doing any of it well. He vows to cut the federal deficit while proposing an avalanche of new spending that will -- says the Congressional Budget Office -- increase it by as much as $9.3 trillion over the next decade.
... it doesn't seem like a time of new politics and new concerns. Many Americans are anxious -- and in some cases angry -- about a set of old issues: deficits, taxes and the national debt. Mr. Obama's radical budget, his administration's slapdash operating manner, and events such as the AIG bonuses have revived animosity over government's size and cost.
In response, tea parties are sprouting up, and opposition is growing to more bailouts, more spending, higher taxes and larger deficits, even among Congressional Democrats.
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The dynamic he has set in motion could spur the emergence of strong competitors to Mr. Obama in 2012 who take a strong, principled stand against record-setting deficits, debt and taxes. It may also strengthen Republican chances in next year's midterm elections.
I currently manage a medium sized hedge fund (long/short equity).
The current populist uproar is absolute insanity. I don’t know how else to say it. You are never going to legislate away greed. Period. It is part of the human psyche. That’s all there is to it. You can either fight it, or use it. Incentives work. This is why.
Let’s step back a minute and think about why and how this happened:
Treasury Secretary Timothy Geithner said Thursday that he takes responsibility for knowing the stimulus legislation had a loophole that would allow bailed-out insurance giant American International Group to keep its bonuses.
In an interview with CNN's Ali Velshi, Geithner said the Treasury Department did talk to Sen. Chris Dodd about a clause he put forth that would have strictly limited executive bonuses.
So Dodd was telling the truth - he was pressured by Treasury, and apparently, Geithner didn't bother to tell his boss (the President, of course) about it up front.
"It became apparent during our discussion today that the President intends to move forward with this unreasonable plan," said Commander David K. Rehbein of The American Legion. "He says he is looking to generate $540-million by this method, but refused to hear arguments about the moral and government-avowed obligations that would be compromised by it."
I am writing to ask for your help in overturning a recent, extremely wasteful policy change by the Defense Logistics Agency ("DLA"), which now requires all once-fired brass cartridge cases to be destroyed (AKA "demilled") before being sold to taxpayers as surplus.
Military surplus brass cases have for decades been purchased by US taxpayers and reloaded to make usable ammunition for sport shooters, hunters, and law enforcement agencies. Currently, there is a shortage of ammunition in the US civilian marketplace and this action will exacerbate that.
Just as bad, this is costing the Department of Defense serious money. The DLA can sell once fired brass for about $2.00 per pound. On the other hand, demilled brass is only worth about 35 CENTS per pound. So not only does the DLA have to expend resources to demill the brass, the demilled brass sells for well under one fourth the price it would otherwise get. This makes no financial sense in a time when the US government is incurring an unprecedented deficit.
To reiterate, the DOD has been selling surplus brass on the US civilian marketplace for DECADES. One has to wonder if this is a back door attempt at gun control by the Obama administration, one which it can effect without getting the cooperation of the legislature or the courts.
Please work with the DLA to reverse this policy.
WASHINGTON (CNN) -- Veterans Affairs Secretary Eric Shinseki confirmed Tuesday that the Obama administration is considering a controversial plan to make veterans pay for treatment of service-related injuries with private insurance.
WASHINGTON (AP) -- An aide to President Barack Obama is on leave from his White House job after the FBI raided his old District of Columbia government office Thursday, arresting a city employee and a technology consultant on corruption charges, a White House official said.
The charges were lodged against the two men at a federal court hearing as the FBI finished searching the city's technology office, which was led until recently by Obama's new computer chief, Vivek Kundra.
The deranged shooting dead of 10 people in Alabama, followed closely by a further 16 murders in Germany, will almost certainly be seized upon by gun control campaigners in the United States to further their agenda. In this they will find a willing ally in Barack Obama who, despite his weasel words after the Supreme Court outlawed the handgun ban in Washington DC (which he previously supported), has a record as a board member, for eight years, of the Joyce Foundation, which funds gun control groups, and as a long-time supporter of anti-firearms legislation.
While cool logic suggests that a gun is only as good or bad as the character and purpose of its owner, the anti-firearms fanatics opportunistically seize upon public revulsion after serious gun crimes to press for blanket bans, without pausing to consider that, if a victim has his skull crushed with a golf club, we do not call for the outlawing of golf.
Any American citizens who are tempted to go down the road of prohibition might be advised to consider the experience of Britain. Our handgun ban in 1997 was enacted with a fervency that went beyond rationality....
The success of this politically correct initiative can easily be measured. In 1997, the year of the ban, there were 2,636 handgun offences; in 2007 there were 4,175. In England and Wales there are now 28 firearms offences committed every day. Gun crime is now one of the most formidable challenges to law and order.
It's only been 7 weeks since the man whose resume fits nicely on the back of a postage stamp became the most powerful human being in the universe. As Presidents go, Barack Obama has proven at least one thing true: change is like the flip of a coin. Change can bring the best of times; change can bring the worst of times. And anyone over the age of twelve ought to have known that. Instead, 52% of the American electorate has run around like a bunch of howling ninnies for the past year chanting like a horde of Jim Jones' followers, who can't get enough of the poison kool-aid.
So much for progressive enlightenment.
Think destroying the mighty economy of the United States is too big a job for you? Relax. Anyone can do it. A friend sent me a handy-dandy no-fuss 12-step program for wreaking financial havoc among even the world’s most advanced economies. I adapt it below for your edification. Your congressmen probably already have a copy. The White House certainly does.
Heidi is the proprietor of a bar in Berlin . In order to increase sales, she decides to allow her loyal customers - most of whom are unemployed alcoholics - to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans).
Word gets around and as a result increasing numbers of customers flood into Heidi's bar.
Taking advantage of her customers' freedom from immediate payment constraints, Heidi increases her prices for wine and beer, the most-consumed beverages. Her sales volume increases massively.
A young and dynamic customer service consultant at the local bank recognizes these customer debts as valuable future assets and increases Heidi's borrowing limit.
He sees no reason for undue concern since he has the debts of the alcoholics as collateral.
At the bank's corporate headquarters, expert bankers transform these customer assets into DRINKBONDS, ALKBONDS and PUKEBONDS. These securities are then traded on markets worldwide. No one really understands what these abbreviations mean and how the securities are guaranteed. Nevertheless, as their prices continuously climb, the securities become top-selling items.
One day, although the prices are still climbing, a risk manager (subsequently of course fired due his negativity) of the bank decides that slowly the time has come to demand payment of the debts incurred by the drinkers at Heidi's bar.
However they cannot pay back the debts.
Heidi cannot fulfill her loan obligations and claims bankruptcy.
DRINKBOND and ALKBOND drop in price by 95 %. PUKEBOND performs better, stabilizing in price after dropping by 80 %.
The suppliers of Heidi's bar, having granted her generous payment due dates and having invested in the securities are faced with a new situation. Her wine supplier claims bankruptcy, her beer supplier is taken over by a competitor.
The bank is saved by the Government following dramatic round-the-clock consultations by leaders from the governing political parties.
The funds required for this purpose are obtained by a tax levied on the non-drinkers.
Finally an explanation I understand.
Then-candidate Barack Obama bemoaned those simple-minded rural folk in Pennsylvania who "cling to guns and religion" in response to economic despair. Since Obama's election, however, Americans have clung to guns like never before. With hyper-inflation looming, a catastrophe initiated by Bush and continued by Obama, guns are thriving and religion may follow suit.
...
This may be an economic tsunami rolling toward us with little warning. The new money has no nexus whatsoever with the country's economy, which is comprised of the goods and services produced, bought and sold by humans. As this money supply has grown, the economy has contracted. This means the value of cash can only plummet. George Mason University law professor Todd Zywicki, who specializes in economics, explained on his blog that consumers haven't felt the inflationary effects of the inflated money supply only because of hoarding, brought about by economic fear.
...
"Presumably because the ‘velocity' of money has remained low - people and banks are hording money, rather than spending, borrowing, and lending it. Assuming velocity rises again, however, we may be looking at an inflationary spiral like we've never seen before in this country."
WASHINGTON (AP) - President Barack Obama's Treasury secretary says the administration will unveil a series of rules and measures in the coming months to limit the ability of international companies to avoid U.S. taxes.
In sum, Buffett and much of the rest of humanity are just now coming around to Nouriel Robuini's way of thinking, the economist known as "Dr. Doom" is upping the ante on his longstanding bearish views.
A year ago Roubini was forecasting an 18-month recession with a U-shaped recovery; now, he's now expecting the downturn to last at least 24 months and possibly 36-months. He also sees rising risks of a Japanese-style L-shaped stagnation, i.e. a prolonged period with little or no economic growth.
That's a snapshot of today's volume for June GE $2.50 PUTs.
That's over 52,000 contracts traded today, controlling 5.2 million shares.
They were purchased for about 30 cents, which means that the price has to be under $2.20 for them to go "in the money".
This is a bankruptcy bet on General Electric by the third week of June.
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General Electric is a stalwart of our financial and industrial system. A bankruptcy by GE would be catastrophic for our economy and capital markets. The follow-on damage with suppliers and customers would be even worse.
A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects.
-Robert A. Heinlein