Many activists are clamoring for a higher minimum wage. That's an admirable goal, but is that where the worst problem is? Even at the abysmally low wages of the present moment, we still have 938,000 people being turned away from McDonald's because there aren't enough McJobs. The real problem is the lack of meaningful work. In a world of machines and social alienation, meaningful work is as scarce as water in the drought-stricken California Central Valley.
Hello, Twitter! It's Barack. Really! Six years in, they're finally giving me my own account.
— President Obama (@POTUS) May 18, 2015
Ten Members of the U.S. Congress – along with 32 of their staff members – received secret payments from Azerbaijan’s state-owned oil company to travel to Baku in 2013, to cover the cost of travel, including souvenirs of “silk scarves, crystal tea sets and Azerbaijani rugs.”
Not ISIS? Saudi Arabia To Execute & Display Beheaded Body Of Political Activist In Public "Crucifixion"Submitted by Tyler Durden on 05/16/2015 20:15 -0400
One of the ways that the U.S. government most clearly expresses its deep dedication to global human rights, democracy and decency across the globe is via its unwavering support for the feudal, inhumane tyrannical monarchy of Saudi Arabia. In a punishment known as “crucifixion,” the executed person’s beheaded body is placed on public display for three days. Currently facing this fate are three political activists, including two children.
The US House of Representative just approved (by a vote of 269 to 151) the $612 billion National Defense Authorization Act (NDAA) funding moar warmongery for fiscal year 2016. However, the vote came short of a veto-proof majority and since the administration opposes the defense policy bill - for its alleged budgeting "gimmicks," as well as its provisions for arming Ukrainian forces - we suspect President Obama is preparing to unleash the veto pen.
“Federal regulation and intervention cost American consumers and businesses an estimated $1.88 trillion in 2014 in lost economic productivity and higher prices. If U.S. federal regulation was a country, it would be the world’s 10th largest economy, ranking behind Russia and ahead of India. Economy-wide regulatory costs amount to an average of $14,976 per household – around 29% of an average family budget of $51,100."
This should be good... as we explained earlier, analysts have pointed to a growing rift between the Obama administration and the Gulf’s Sunni states over the emerging nuclear deal with Iran as a chief reason for the snub, though the Saudi king, as well as his Bahraini counterpart, have denied such assertions.
Two days ago there was some rejoicing and much surprise when the "Warren-faction" of Senate liberals turned against Obama, and failed to vote for a fast-track approval of the TPP. That surprise lasted for about 48 hours when moments ago, in a 65-33 vote, the Senate finally advanced a measure allowing Obama to expedite approval of trade agreements, a bill with bipartisan support in that chamber which however according to Bloomberg may run into strong opposition from House Democrats.
It would appear someone at NBC News got a rather large tap on the shoulder. In what is a stunning reversal of their confirmation that President Obama lied and lying about the killing of bin Laden, NBC News has updated their original story - that "two intelligence sources tell NBC News that the year before the U.S. raid that killed Osama bin Laden, a 'walk in' asset from Pakistani intelligence told the CIA where the most wanted man in the world was hiding" - to this - "Sources say that while the asset provided information vital to the hunt for bin Laden, he was not the source of his whereabouts." As Slate concludes, while NBC’s story doesn’t use the word correction or retraction, that’s what this appears to be.
"You said you weren’t monetizing the debt when you talked to Congress. You said the Fed was going to sell the bonds, but none of them have been sold. They’ve all been rolled over. So how are you claiming victory when you haven’t exited? You haven’t raised rates, you haven’t shrunk the balance sheet. You were wrong in the past. You didn’t see the financial crisis coming. You told us there was no housing bubble. You said subprime was contained. So you were certainly wrong then. So how do you know you’re not wrong now? Is there anything that might change your opinion and get you to rethink and maybe admit that your outlook is wrong?"
- Obama, McConnell missteps undercut trade pact in U.S. Senate (Reuters)
- Bears Beware: Rout Puts Investors on Wrong Side of Central Banks (BBG)
- U.S. Set to Rip Up UBS Libor Accord, Seek Conviction (BBG)
- Greece’s Creditors Said to Seek EU3 Billion in Budget Cuts (BBG)
- Amtrak train derails in Philadelphia, killing at least five (Reuters)
- Oil glut worsens as OPEC market-share battle just beginning (Reuters)
- China Stimulus Aims at Restructuring Trillions in Local-Government Debt (WSJ)
It looks like all those ‘conspiracy nuts’ who took issue with the “official” story following the President’s original announcement of bin Laden’s death were not so crazy after all. There’s a reason millions of Americans have lost trust in their government, and especially with the sitting President of the United States. It’s because we have been consistently lied to about anything and everything of any significance.
Just days after Japanese PM Shinzo Abe leaves Washington (having stepped up his nation's military assertiveness), The Wall Street Journal reports that the US Secretary of Defense has asked staff for military options in the South China Sea (as we have detailed China's land reclamation efforts): U.S. MAY USE MILITARY TO CONFRONT CHINA IN SPRATLY ISLANDS DISPUTE: WSJ Having ironically commented on China's "bullying," it appears Nobel-Peace-Prize winner President Obama is preparing for an even bigger objective, amid China's rising threat to USD dominance (with Yuan liberalization and AIIB success).
Moments ago, in an embarrassing setback for the president, Senate Democrats in a 52-45 vote - short of the required 60 supporters - blocked a bill that would give President Barack Obama fast-track authority to expedite trade agreements through Congress, a major defeat for the president and his allies who "say the measure is necessary to complete a 12-nation Pacific trade deal that is a centerpiece of the administration’s economic agenda." But don't count it out yet: the WSJ cites Mitch McConnell who told reporters shortly before the vote, which he expected to lose, that “This issue’s not over" adding that "I’m hopeful we’ll put this in the win column for the country sometime soon.”
In 2003, Kevin Flanagan was an information technology employee at Bank of America. They told him he was being replaced with foreign labor, and he was ordered to train his replacement. After he completed his assignment, he was laid off. Then he went to the parking lot and shot himself. That's "free trade."