Posted on 24th October 2014 by Administrator in Economy

 Via Imgur

The first photograph upon discovery of Machu Picchu, 1912

Underwater detonation of 15 kiloton nuclear weapon

Lucky British soldier shows off his damaged helmet, 1917

Archduke Franz Ferdinand with his wife on the day they were assassinated by Gavrilo Princip, 28 June 1914

Einstein’s desk photographed a day after his death

Soviet soldier in the liberated village

Soldiers raising the Soviet flag over the Reichstag, Berlin 1945

Adolf Eichmann walks around the yard of his cell, Israel, April 1961

Executions of Kiev Jews by German army mobile killing units, 1942

Two German soldiers and their mule wearing gas masks in WWI, 1916

British tanks maneuvering trenches during the Battle of Cambrai. France, 1917

Erwin Rommel helps to push his stuck staff car somewhere in Northern Africa, January 1941

B-32 Bomber Factory in Fort Worth, Texas,1944

Annual midnight swearing-in of Nazi SS troops, Feldherrnhalle, Munich, 1938

USAAF B-25 sinks Japanese destroyer Amatsukaze off the coast of Xiamen, China, 6 April 1945

Spectators standing upon tables to get a glimpse of the Versailles Treaty being signed, France, 1919

Abandoned boy holding a stuffed toy animal amid ruins following German aerial bombing of London, 1940

Henry Ford receiving the Grand Cross of the German Eagle from Nazi officials, 1938

Germans testing a Messerschmitt Bf 109 E3, 1940

Hans-Georg Henke – 16 Year Old German soldier crying

A rare color photo of Adolf Hitler which shows his true eye color

Execution of a German Communist in Munich, 1919

Nazi rally in the Cathedral of Light, c. 1937

Gadget, the first atomic bomb

The last Jew in Vinnitsa, 1941

The last picture of Adolf Hitler, April 30, 1945

A dog being posed by a German soldier

The night they ended Prohibition, December 5th 1933

Liberation of Paris, August 1944

The end of WW2 is celebrated in Moscow’s Red Square, May 9, 1945

A German soldier with a badge on his chest in Stalingrad, 1942

General George S. Patton’s dog on the day of Patton’s death on December 21st, 1945

German prisoners march to Moscow after defeat at Belarus during “Operation Bagration”, 17 July 1944

German troops trying to rescue what looks like a French soldier from sinking in a mud hole. Northern France, 1914-1918

Nine Kings in one photo

Nazis singing to encourage a boycott of the allegedly Jewish-founded Woolworths, 1933

A US soldier offers his hand to a woman leaving a cave where she had hidden with her child during the battle between Japanese an

A rare shot of a young Winston Churchill, 1895

Eyes of Hate, A candid photograph of Goebbels after he finds out his photographer is Jewish

American tank crews listen as Bernard Herzog who was liberated from the camp of Santo Tomas, Manila, Philippines

U-118, a World War One submarine washed ashore on the beach at Hastings, Sussex, England

A Russian adjustable mobile shield that could protect against small arms fire and shrapnel captured by the Germans, 1914

Testing a bulletproof vest, 1923

The Messerschmitt Me 264, its objective: being able to strike continental USA from Germany, 1942

Russian soldiers prepare chlorine cylinders for a gas attack against German positions near Ilukste, 1916

Gas masks for babies tested at an English hospital, 1940

Nazi raising the swastika over the Acropolis, Athens

German soldier dives for cover as shell explodes behind him at an artillery position, Western Front, 1917

Stalin in an off-record photo by Lt. Gen. Nikolai Vlasik, the Soviet dictator’s bodyguard

Control room of the UB-110 German submarine, 1918

Field Marshall Erwin Rommel inspecting the Omaha beach defenses, 1944

A V-1 flying bomb “buzzbomb” plunging toward central London, 1945

Maori Battalion in North Africa, 1941

Jesse Owens on the podium after winning the long jump at the 1936 Summer Olympics

Ovation for Hitler in the Reichstag after announcing the successful Anschluss, March 1938

Samuel Reshevsky, age 8, defeating several chess masters at once in France, 1920

Joseph Stalin mugshot held by Okhrana, the Tsarist Secret Police, 1911

The Eiffel Tower during the Nazi occupation, 1940

Young German SS soldier. Date and location unknown.

The Cologne cathedral stands tall amidst the ruins of the city after allied bombings, 1944

Laughing at Auschwitz – SS auxiliaries poses at a resort for Auschwitz personnel, 1942

A German child meets her father, a WW2 soldier, for the first time since she was 1 year old, 1956

Using banknotes as wallpaper during Hyperinflation, Germany 1923

Opium den, Singapore, 1941

Using a traditional Japanese blade, 17-year-old Otoya Yamaguchi assassinates socialist politician Inejiro Asanuma in Tokyo, Japa

The face of war: The first press pictures of dead U.S. soldiers that was presented to the public,Papua New Guinea, 1942-43

A couple of warriors holding hands, Vietnam, 1971

Erwin Rommel and staff, Western Desert, 1942

The 2800 year old kiss

Lady in a litter being carried by her slaves, province of São Paulo in Brazil, 1860

Hitler rehearsing his speech in front of the mirror, 1925

African American fighting at the Ardennes Counteroffensive, 1944

Marina Ginesta, a 17-year-old communist militant, overlooking Barcelona during the Spanish Civil War, 1936

German Panzer III in the Western desert, 1942

Turkish official teasing starved Armenian children by showing bread during the Armenian Genocide, 1915

Captured Italian soldiers are escorted to the rear by German soldiers during the Battle of Caporetto, 1917

To have an elongated head was an ideal of beauty among the Mangbetu people, 1930

German stormtrooper officer portrait,1918

German soldiers in trench, Soviet Union, October 1943



Posted on 24th October 2014 by Administrator in Economy |Politics |Social Issues

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Posted on 24th October 2014 by Administrator in Economy |Politics |Social Issues



Posted on 24th October 2014 by Administrator in Economy |Politics |Social Issues

, ,

Via Police State USA

Man charged with breaking a trooper’s fist with his face

“You’ve got a long f***ing night ahead,” the officer menaced. “Do ya hear me?? Do ya f***ing hear me?!”

Robert Leone. (Source: Pennsylvania State Police)

BRADFORD COUNTY, PA — A motorist was viciously beaten, tasered, and maced repeatedly, then charged with 24 separate crimes and maliciously prosecuted for every one of them. He was beaten four (4) times over the course of 11-hours, and not once had he acted maliciously. The incident stemmed from his driving while on an unusually high dosage of legally-prescribed bipolar medication and a subsequent fender bender. Dash-cam footage revealed the extraordinary exaggerations made about the case — 2 years after it took place.

The Traffic Stop

Around 8:20 p.m. on March 8th, 2010, police received a 9-1-1 call regarding a car that had failed to stop after a minor traffic collision. The accident resulted in no injuries and no damage, but one of the drivers did not stop to exchange information. Pennsylvania State Police (PSP) dispatched troopers to investigate this alleged hit-and-run.

A car driven by Robert Leone, 31 at the time, matched the basic description of the car in question. Mr. Leone was driving just across the Pennsylvania border from his home in Vestal, NY. He had just finished star gazing at the Kopernick Observatory and Science Center and decided to go for a ride in the country while listening to his favorite music. He had consumed no alcohol or illegal substances, but it seems that his decision-making abilities may have been affected by his legally-prescribed medication used to treat his bipolar disorder.

PSP attempted to pull over Mr. Leone, who was traveling at a speed significantly UNDER the posted speed limit — 10 to 30 mph under. Leone stated at first he did not think the trooper was trying to stop him as he believed that he had done nothing wrong prior to the encounter. Police dash-cam video clearly showed Mr. Leone driving very slowly and in a very controlled manner. The only vehicles ever seen crossing the center line or driving erratically were the state police cars that were involved in this low speed following — contrary to sworn statements later given by the troopers.

The five marked cruisers following Mr. Leone could have easily boxed in Mr. Leone at low speed and caused him to stop. Instead, the troopers deployed stop-sticks and rammed his vehicle. A “PIT maneuver” was used to smash Leone into a rock wall, while still at low speed.

Once his car was immobilized, the senior trooper on scene, Corporal Roger Stipcak, stood on top of Mr. Leone’s hood and ordered him out of his car while aiming a taser at him. Mr. Leone COULD NOT comply with the trooper’s order because a state police car was intentionally blocking Leone’s driver-side door.

Mr. Leone was then tasered through his open sunroof and forcibly dragged to the ground through the passenger-side door and beaten by fellow troopers. The senior trooper who was standing on the hood of Leone’s car was then seen jumping directly onto Leone’s back from the hood of the car.

A battered Robert Leone is shoved toward a squad car, where he was hog-tied and subject to further abuse.  (Image: Pennsylvania State Police)

“You’ve got a long f***ing night ahead,” the officer menaced. “Do ya hear me?? Do ya f***ing hear me?!”

This was but the first threat of many Mr. Leone was going to receive over the next 11 hours. It was also the mildest. At no time was Leone videoed resisting or attempting to strike the officers.

After his first beating he was handcuffed and questioned. At that point Leone was arrested and placed in the back of a patrol car. Without advising Mr. Leone of his constitutional rights he was questioned a second time and responded with respectful answers of “yes sir,” and “no sir.”

During the questioning, the trooper accused Leone of intentionally spitting in the trooper’s face and used that alleged behavior as a reason to beat Mr. Leone — who was still handcuffed. The trooper then hog-tied the victim.

“Who do you think you’re messing with?” one officer challenged. “We’re the Pennsylvania State Police… it’s not just some chumps.”

After analyzing the audio portion of the dash-cam it appears that the trooper fabricated the spitting incident in order to justify the beating, even though spitting does not allow an officer to beat a prisoner.

Watch as author Larry Hohol provides a play-by-play of the traffic stop:

An ambulance had initially been called to transport Mr. Leone, who had suffered multiple injuries. Instead, the trooper who had broken his hand while punching Leone received medical attention, and Mr. Leone — who was handcuffed and hog-tied — was transported to the hospital in the back of a patrol car.

Beaten Again in the Hospital

Robert Leone's medical records show that he was brought into the hospital hog-tied.  (Source: YouTube / Larry Hohol)

Robert Leone was still hog-tied when he was brought into the Towanda Hospital; a fact documented in his medical records. Mr. Leone attempted to quietly tell the attending nurse what happened to him and begged her for help.

Unfortunately for him, one of the troopers overheard his plea. The exam room was ordered cleared of all medical personnel and a third round of beatings and taserings occurred while Mr. Leone was handcuffed to his gurney.

Police alleged that Leone “reached” at an officer — all the justification they needed for beating him with batons and using tasers multiple times.

The trooper later admitted at Leone’s trial that he was never hit by the defendant. But that did not stop Mr. Leone from being found guilty of assault for what took place in that room.

Mr Leone was discharged from the Towanda General Hospital in worse condition than he had arrived in.

Beaten Again at Police Barracks

After his treatment at the hospital, Mr. Leone was taken to the PSP Barracks Towanda for processing. While at the barracks, an arraignment was set up with an on-call judge who was located remotely and used a video-feed to connect with the police.

Mr. Leone was instructed not to look into the video camera during this arraignment and to only answer questions that he was asked. As soon as the video link was established, Mr. Leone looked directly into the camera and begged the judge for help. The trooper immediately disconnected the video link, claiming that a malfunction had occurred. With no cameras recording, Mr. Leone was severely beaten for a third time.

Beaten Again During Transport

While at the barracks, Leone stated that troopers told him that they could make it look like he committed suicide while in custody or they could throw him off of a bridge and state that somehow he got the rear door of the patrol car open and then jumped off of the bridge himself.

The records of the Robert Leone's brief 2nd hospital visit show that all of his (new) injuries were on his back.  (Source: YouTube / Larry Hohol)

The prisoner was so sure the troopers were going to kill him that night, he tried to shuffle away when he was being escorted to the patrol car for transportation to the county jail, even though he was handcuffed and his feet were shackled.

His pathetic escape attempt gave police an opportunity to beat him once again, and this time douse him with pepper spray. His injuries were so severe at that point that he was unconscious when he was delivered to the hospital for his second evaluation.

According to the hospital report, all of the injuries on Mr. Leone’s body were on his back and none were frontal, indicating that his injuries were not caused while being subdued because of any aggressive behavior. Apparently, the hospital staff themselves were so fearful of these troopers that they released Mr. Leone back into police custody only 26 minutes later — without treatment and while Mr. Leone was still semi-conscious. Mr Leone’s vital signs at this point showed him to be in serious physical distress.

Arrival in Jail

Mr. Leone was transported via patrol car in a semi-conscious state to the Bradford County Correctional Facility. He was received in such poor condition that the jail called their on-call staff physician to the jail to evaluate Mr. Leone.

Robert Leone's 2010 mugshot. (Source: Pennsylvania State Police)

“They put him on the phone and he starts screaming that he has been beaten within an inch of his life,” Robert’s mother, Joan Leone told WBNG. “They tried to kill him through the night. He has been threatened that they are going to kill him and make it look like a suicide or an accident.”

Numerous pictures of Leone’s injuries were taken by the prison staff in order to defend the prison — should it later be accused of mishandling the already-ravaged prisoner. (Subsequently, when the photographs were requested, the prison claimed that these pictures do not exist.)

A prison guard [name withheld] who befriended Leone told him that the jail administrators were lying because the guard saw the pictures for himself. The picture featured in this article is a copy of the actual booking photo taken by the prison.

Mr. Leone laid in a jail cell for days without proper treatment and probably should have died from his injuries. The prison would not release any information to Mr. Leone’s family about his condition for over 5 days. His family was not allowed to speak to him in person or on the phone nor would the prison allow any other visitors or legal counsel to visit him.

Since Robert Leone could not pay his outrageous $250,000.00 bail, he remained incarcerated for six months until his trial. While he languished in jail, he was denied any additional medical treatment — particularly for his head injuries — even though he had excellent private heath insurance to pay for it if necessary.

“The corruption in PA is so widespread that they’re going to keep him in for four years. Because they have no intention of letting him out because he’s going to be speaking about what’s happened to him,” Joan Leone said.

Railroaded With Charges

Robert Leone’s traumatic physical experience was followed by being charged with twenty-four (24) separate crimes: aggravated assault; driving while under the influence of alcohol or a controlled substance; escape; simple assault; reckless endangering another person; resisting arrest; fleeing or attempting to elude a police officer; disorderly conduct; failure to stop at the scene of an accident; harassment; failure to provide the proper information following an accident; and failure to notify the authorities after an accident had occurred.

To go with his black eye and brutal beating, Mr. Leone was literally charged with breaking a trooper’s fist with his face — “aggravated assault” on a police officer. The 2 dozen charges included four serious felonies for which he could feasibly be spending the rest of his natural life in prison.

It appears that the cover-up of Leone’s beatings became so important that the Bradford County District Attorney personally took up the task of prosecuting the case. Despite having dash-cam video evidence in his possession — the same dash-cam video of which I made a documentary — DA Daniel Barrett attempted to prosecute all 24 counts against Robert Leone.

“I’m sorry if the fella got a black eye or if he got scraped up. His picture look pretty pathetic. But he was the one that brought this on and continued it,” Barrett said to WETM TV.

All district attorneys have two basic requirements — not options — when fulfilling their Oaths of Office. One is to prosecute the guilty, and the other is to protect the innocent. In this case DA Daniel Barrett did neither. At the very least the dash-cam video contradicted sworn statements made by troopers and in many instances proved Mr. Leone’s innocence. Instead of dropping the charges, the Bradford County District Attorney knowingly prosecuted a man that he knew was innocent of everything except his failure to stop (Leone is guilty of this for sure).

Leone’s Trial

Robert Leone’s trial began on August 31, 2010.

District Attorney Barrett claimed at trial that Mr. Leone was a drug-addled maniac that endangered the general public because of a substance abuse problem.

But that was not the case. Mr. Leone’s lab results showed that he had a 0.00 BAC and the only drug in his system was a prescribed medication for his diagnosed bipolar disorder. For some reason, Leone’s physician had assigned him a very high dosage. Nonetheless, the DA waved an empty prescription bottle before the jury and told them it was evidence that Mr. Leone had taken a significant number of pills at once.

At another point in the trial, the DA introduced as evidence part of an internal investigation that was conducted by the Pennsylvania State Police Office of Integrity and Professional Standards. The DA only showed part of the report to the jury which consisted of the troopers’ own sworn statements. He then asked one of the troopers if they were punished or reprimanded in any way following their conduct in this case. The trooper told the DA and the jury that he and his colleges were cleared of any wrongdoing (the investigation was conducted by a fellow trooper from the same barracks).

When the Public Defender demanded a copy of the complete report, her demand was denied by Bradford County President Judge Jeffrey Smith with no explanation. To this day, the Leone family and every outsider has been denied access to a copy of the full report.

Sources indicated to me that the nurse who witnessed the the round of beatings inside the Towanda Hospital was not brought into the trial to testify out of extreme fear for her safety. This statement was made by Mr. Leone’s public defender to Leone’s parents. The nurse was not afraid of Mr. Leone.

When the prosecution rested it’s case, Mr. Leone’s court-appointed public defender had an opportunity to rip the DA and the arresting troopers to shreds — especially for their outright and provable misstatement of facts. An exposure of these details could have proved helpful to Leone’s fate. Instead of a rebuttal, the public defender offered three (apparently) magic words when it was time for her to defend her client: “The defense rests.”

Despite a non-existent defense effort, Leone was found guilty by the jury of only four of the two dozen charges. They were: hit-and-run, attempting to flee from officers, resisting arrest, and one count of simple assault. Most importantly, he was found not guilty all four of the felonies.

It appears that the trial judge did not like the decision the jury had rendered, and rather than sentencing Mr. Leone to time served, Leone as sentenced to 2.5 to 4 years in prison.

With a sentence this severe, it is customary for an inmate to serve his time in a state facility. Judge Jeffrey Smith instead ordered Mr. Leone to be held in Bradford County. An appeal by the hapless public defender was filed on behalf of Mr. Leone and subsequently rubber stamped “denied” by the Superior Court.

Parole Denied

The warden of the Bradford County Correctional Facility commented to Mr. Leone’s parents that if all of the prisoners in his facility acted like Mr. Leone, he wouldn’t need any guards. Despite his apparent good behavior in the eyes of the warden, Mr. Leone had been denied release from prison by the parole board multiple times.

The first parole denial was because, as they stated, that Mr. Leone did not finish taking a drug and alcohol abuse class while incarcerated. This was a dubious claim because Mr. Leone had not been convicted of any substance-related crime, and his blood was proven to be free of alcohol and illegal drugs.

The second parole denial was because the board “lost the paperwork.” This could have been part of a conscious effort to keep Mr. Leone incarcerated until the expiration on a statute of limitations that would have allowed him to file a federal lawsuit against the officers involved.

Fortunately, we beat this date by 4 days and have filed a federal lawsuit in the Middle District of Penna.

No Accountability

The Pennsylvania State Police officially cleared its own troopers of any and all wrongdoing regarding the entire handling of the Robert Leone case from start-to-finish. Corporal Roger Stipcak and all of the other four participating troopers kept their jobs and faced no legal repercussions.

What might have been turned into major scandal in the Pennsylvania State Police and Bradford County was completely swept under the rug.

Bullies with Badges and their Support Network

It is difficult for the average United States citizen to wrap his or her mind around the concept of widespread police brutality and judicial culpability. We are taught at an early age that the police are good and they are here to protect us from evil. We are never taught that occasionally some police officers are in-fact evil themselves.

As a society, and in general terms, it is repetitively hammered into our psyche that if a person is arrested, he must have committed a crime. The public perception also wrongly assumes that if a person is beaten by the police, he probably deserved that beating. Only a minority questions that paradigm, and it is often reinforced with media reports biased toward the police.

In the months following the Towanda traffic stop, Robert Leone was “convicted” in the eyes of the public and media long before his sentence fell on him. It began when the state police reported that they had arrested Mr. Leone after he was involved in a hit-and-run accident and a lengthy “car chase” that ended with Leone “fighting with officers,” thus requiring him to be “forcibly subdued.” The local media regurgitated exactly what the troopers fed them as if it were factual (See more: Man Charged With Assaulting State Troopers | The Daily Review). The District Attorney for Bradford County helped to demonize Mr. Leone by spreading more erroneous info (See more: WETM News).

Reading the official press release and then watching the county DA justify the troopers’ actions would likely satisfy most law-abiding citizens in the belief that their police officers were acting righteously on the streets. However, the actual dash-cam footage — released 2 years after the incident — told us another story.

If this dash-cam video did not exist Mr. Leone would probably be spending most of his adult life in prison. Even with this evidence I cannot get the FBI, U.S. Attorney General, or the DOJ to open a criminal or civil rights investigation. I believe there has been so much misconduct by so many players in this case that the Feds simply do not want to open what appears to be a huge can of worms. I am talking specifically about seven police officers, the District Attorney, the Pennsylvania State Police Office of Integrity and Professional Standards, the trial judge, the Superior Court, the prison, and last but not least, Mr. Leone’s Public Defender.

How could so many safeguards fail and fail with such magnificence? The ONLY safeguard that almost got it right was Mr. Leone’s trial jury. Leone was found guilty on only 4 of 24 counts and zero of them were felonies. Although Mr. Leone was charged with breaking a trooper’s fist with his face, he was found not guilty of that crime.

Since Mr. Leone’s trial, I was told by one of the jurors through a third party that the even the jury was intimidated by the troopers and the DA in this case. So much so, that they felt they had to give them something or fear for their own well being.

We as Americans are willing to go to foreign lands and spill our own blood in the defense of freedom (both ours as well as someone else’s), yet here at home our freedoms are being directly attacked on a daily basis by the very agencies that are in place to assure us things like this never happen. Not only are injustices happening, they are happening on a large scale. I directly blame the chain of command as much as I blame the individual offending officers. In most instances not only does the chain of command attempt to cover-up and justify misconduct, but they actively chastise any officer who might step forward in an attempt to right a wrong. In addition, I blame the Judicial Conduct board as they directly oversee the courts, and I blame the Bar Association as most of the players here (except for the police) are attorneys including the elected officials that should be intervening.

Mr. Leone will soon have his day in federal court. Out of shear coincidence, the federal judge that was assigned to hear his case is the very federal judge I wrote about in my book about judicial corruption in Pennsylvania. I have no confidence this judge will act appropriately.

The big question that we should all be asking ourselves is, “How do we fix all of this”?

Larry Hohol
Former Police Officer / Author
Contact info: [email protected] www.WorseThanRodneyKing.com

Embarrassing Economists


Posted on 24th October 2014 by Administrator in Economy |Politics |Social Issues

, ,

Guest Post by Walter E. Williams

So as to give some perspective, I’m going to ask readers for their guesses about human behavior before explaining my embarrassment by some of my fellow economists.

Suppose the prices of ladies jewelry rose by 100 percent. What would you predict would happen to sales? What about a 25 or 50 percent price increase? I’m going to guess that the average person would predict that sales would fall.

Would you make the same prediction about auto sales if cars’ prices rose by 100 percent or 25 or 50 percent? Suppose that you’re the CEO of General Motors and your sales manager tells you the company could increase auto sales by advertising a 100 percent or 50 percent price increase. I’m guessing that you’d fire the sales manager for both lunacy and incompetency.

Let’s try one more. What would you predict would happen to housing sales if prices rose by 50 percent? I’m guessing you’d predict a decline in sales. You say, “OK, Williams, you’re really trying our patience with these obvious questions. What’s your point?”

It turns out that there’s a law in economics known as the first fundamental law of demand, to which there are no known real-world exceptions. The law states that the higher the price of something the less people will take of it and vice versa. Another way of stating this very simple law is: There exists a price whereby people can be induced to take more of something, and there exists a price whereby people will take less of something.

Some people suggest that if the price of something is raised, buyers will take more or the same amount. That’s silly because there’d be no limit to the price that sellers would charge. For example, if a grocer knew he would sell more — or the same amount of — milk at $8 a gallon than at $4 a gallon, why in the world would he sell it at $4? Then the question becomes: Why would he sell it at $8 if people would buy the same amount at a higher price?

There are economists, most notably Nobel Prize-winning economist Paul Krugman, who suggest that the law of demand applies to everything except labor prices (wages) of low-skilled workers. Krugman says that paying fast-food workers $15 an hour wouldn’t cause big companies such as McDonald’s to cut jobs. In other words, Krugman argues that raising the minimum wage doesn’t change employer behavior.

Before we address Krugman’s fallacious argument, think about this: One of Galileo’s laws says the influence of gravity on a falling body in a vacuum is to cause it to accelerate at a rate of 32 feet per second per second. That applies to a falling rock, steel ball or feather. What would you think of the reasoning capacity of a Nobel Prize-winning physicist who’d argue that because human beings are not rocks, steel balls or feathers, Galileo’s law of falling bodies doesn’t apply to them?

Krugman says that most minimum-wage workers are employed in what he calls non-tradable industries — industries that can’t move to China. He says that there are few mechanization opportunities where minimum-wage workers are employed — for example, fast-food restaurants, hotels, etc. That being the case, he contends, seeing as there aren’t good substitutes for minimum-wage workers, they won’t suffer unemployment from increases in the minimum wage. In other words, the law of demand doesn’t apply to them.

Let’s look at some of the history of some of Krugman’s non-tradable industries. During the 1940s and ’50s, there were very few self-serve gasoline stations. There were also theater ushers to show patrons to their seats. In 1900, 41 percent of the U.S. labor force was employed in agriculture. Now most gas stations are self-serve. Theater ushers disappeared. And only 2 percent of today’s labor force works in agricultural jobs. There are many other examples of buyers of labor services seeking and ultimately finding substitutes when labor prices rise. It’s economic malpractice for economists to suggest that they don’t.

Walter E. Williams is a professor of economics at George Mason University. To find out more about Walter E. Williams and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com.



Posted on 24th October 2014 by Administrator in Economy |Politics |Social Issues

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Posted on 24th October 2014 by Administrator in Economy |Politics |Social Issues

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Did you ever notice that government reports are only revised lower in future months after the initial reports are used to support the government’s contention that the economy is improving? Did you ever notice that Wall Street and the MSM mouthpieces go bonkers over the initial reports and then don’t report the dramatically lower revisions? Did you ever notice that your keepers are fucking you over?

Make sure you notice that last chart with the median new home sales price. That will not be revised higher.

The Housing Recovery Has Been Canceled Due To Data Revisions

Tyler Durden's picture

Last month, when, with great amusement, we reported that “New Home Sales Explode Higher Thanks To… Record High Average New Home Prices?”, we mocked the latest batch of bullshit data released by the US department of truth as follows:

New Home Sales rose a magnificent (seasonally-adjusted annualized rate) 18% in August – the biggest monthly rise since January 1992 albeit with a 16.3 90% confidence interval, meaning the final number may well be +1.7%. At 504k, new home sales are back at May 2008 levels (though obviously massively below the 1.4 million homes sold at the peak in 2005). As a reminder, May’s 504K new home sales print was later revised later to 458K. But even more stunning, new home sales in The West rose a mind-numbing 50% in August (and up 84.4% YoY – nearly double). 

Well, it is now a month later, and here come the revisions: first, that 50% surge in the West was revised… 30K lower. But to get a sense of just how bad the revision was, here is the old, pre-revision data, and the “data” following the latest revision.

In short: the euphoric, consensus-beating data for every single month since May has been revised lower, by on average 6% and as much as 9%. Perhaps finally people will realize that there is only one number that matters in the Census bureau’s monthly new home sales report: the ±15.7 90% confidence interval. Well, people maybe, but not algos, who only care about one thing: whether the data beat or missed.

Now we wonder: will all those market surges over the past 4 months which were based on erroneous headline data, all be revised lower? Sarcasm off.

Oh, and as for that record new home price reported last month, which magically also resulted in what the US government wanted everyone to believe was a surge in buying… well, see for yourselves:

So to summarize: the latest “housing recovery” has been indefinitely postponed due to data revisions.

Danger of Conspiracy Theories


Posted on 24th October 2014 by Administrator in Economy |Politics |Social Issues



If you want to hide something in plain view, exaggerate it to the point it becomes extreme and convert it to a conspiracy theory. This is a very standard in how to create propaganda and if you keep saying a lie, its becomes the truth to many without ever having to prove anything. To uncover the truth, takes digging. This I have discovered both in politics as well as market fundamentals.

The two big conspiracy theories to be exaggerated that cover up the truth are the 911 WTC Attack and the Kennedy Assassination. With the former, people take it to the extreme and claim there was not even an attack by terrorists and the whole thing was made up. Sorry, there was an attack and the government knew it was coming and allowed it to for three purposes

  • (1) eliminate the evidence on many cases in WTC7 including all my evidence that documented EVERY  market manipulation up to 1999 by the investment banks et al for which they are getting fined all the time today
  • (2) wipe out the evidence that would have exposed the missing $2 trillion in the Pentagon budget, and
  • (3) generate more power for government by allowing Americans to be victims as originally proposed in Operation Northwoods.


Now, that is far closer to the truth than claiming there was no Middle East terrorists involved at all, Strange, for that does not jive with Saudi Arabia threatening Russia with terrorism or the funding of ISIS to overthrow Syria which has now overthrown most of Iraq.

Patton George (1885-1945)Then there is the Kennedy Assassination spun to be the product of the Mafia or with Oswald’s Russian connection. Eisenhower in his Farewell Address warned of the vast military complex that had grown out of World War II employing over 3 million people. There was no such industry before that war and the view was now Communism would take the world. My father was a Colonel under General Patton and you to tell me all the time about him as a child how he read the books of his opponent and how he accurately predicted that the real enemy would be Stalin and wanted to go all the way to Moscow.


In the Third 1960 Presidential Debate, Kennedy exposed the truth behind the decline in the Bretton Woods System – it was the vast expenditure on the military. Her said:

Now on the question of gold. The difficulty, of course, is that we do have heavy obligations abroad, that we therefore have to maintain not only a favorable balance of trade but also send a good deal of our dollars overseas to pay our troops, maintain our bases, and sustain other economies. 

The price of silver was rising and Kennedy set in motion the withdraw of silver from the monetary system. This too has been spun into a conspiracy theory  Here they have spun JFK’s Executive Order 11110 into the Federal Reserve killed Kennedy because he was taking their power to print currency away. You just can’t get any more far-fetched than that one.

Simply put, JFK also said the US current account deficit could be stopped at any time if the government stopped expanding its military worldwide for that was sending dollars offshore. If anyone had a motive, it was the very same people behind the NSA abuse of power – not the Federal Reserve, Mafia, or Russians. Just follow the money and you get closer to the truth – i.e. Halliburton, Cheney and the Iraq War against a nation who was against religious fanatics, the very terrorists who attacked the USA – go figure that one out without following the money. We took out two dictators who kept religious fanatics in check -Saddam Hussein and Muammar al-Gaddafi.

BTW, as soon as Halliburton was to be investigated, they moved to Dubai. Just follow the money.


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Posted on 24th October 2014 by Administrator in Economy |Politics |Social Issues