Chaffetz Obliterates Stunned FBI Official; Serves Him With A Subpoena During Testimony

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For those of our readers who haven’t yet had the pleasure of hearing Jason Chaffetz (R – Utah) absolutely obliterate Jason Herring, the FBI’s acting assistant director for congressional affairs, during a recent emergency hearing of the House Committee on Oversight and Government, might we suggest that you do so post haste.  While there are several epic exchanges in the short 4 minute video, the best is the very end where Chaffetz literally serves Herring with a subpoena while he’s still on the stand.

Chaffetz“You don’t get to decide what I get to see. I get to see it all. I was elected by some 800,000 people to come to Congress and see classified information. I was elected by my colleagues here to be the chairman of this committee. That’s the way our Constitution works. Will the FBI provide to Congress the full file with no redactions of personal identifiable information?”

 

Herring:  “I cannot make that commitment sitting here today.”

 

Chaffetz:  “Then I’m going to issue a subpoena and I’m going to do it right now. So let’s go. I’ve signed this subpoena.  We want all the 302s and we would like the full file. You can accept service on behalf of the FBI?”

 

Herring:  “Certainly.”

 

Chaffetz:  “You are hereby served.  We have a duty and a responsibility.  You can sight no precedent, nothing in the constitution, no legal precedent, you know this is important to us.  You now have your subpoena.  We would all like to see this information.”

 

 


Household Net Worth Hits A Record $89 Trillion… There Is Just One Catch

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As part of its quarterly Flow of Funds update, earlier today the Fed released snapshot of the US “household” sector as of June 30. What it revealed is that with $103.8 trillion in assets and a modest $14.7 trillion in liabilities, the net worth of the average US household rose to a new all time high of $89.1 trillion, up $1.1 trillion as a result of an estimated $474 billion increase in real estate values, and mostly $750 billion increase in various stock-market linked financial assets like corporate equities, mutual and pension funds.

Household borrowing rose at a 4.4% annual rate, with total household liabilities grew growing by $200 billion from $14.5 trillion to $14.7 trillion, the bulk of which was $9.6 trillion in home mortgages.

The breakdown of the total household balance sheet as of Q2 is shown below.

 

And while it would be great news if wealth across America had indeed risen as much as the chart above shows, the reality is that there is a big catch: as shown previously, virtually all of the net worth, and associated increase thereof, has only benefited a handful of the wealthiest Americans.

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Travelogue: The Imperial Capital

Guest Post by The Zman

Yesterday, my duties required me to go into the Imperial Capital for meetings. Not being a Cloud Person, and living among the Dirt People, it means I have to drive into the city, which is one of the worst things that can be asked of a man. Traffic around the Capital is some of the worst on the planet. I think I’d rather ride a scooter in Tijuana than drive around Washington DC. But, when duty calls you do what you must and that meant two hours of car time navigating the traffic of the capital.

One of the things you notice upon entering the capital area, if you are the noticing type, is the wealth. Sitting in traffic, I looked at the cars around me and I spied an Audi A8 to my left, a Mercedes S-class in front and a Tesla to my right. That was roughly a quarter million dollars within arms length of me. Looking around, I saw lots of other luxury cars. For the managerial elite, Audi and Mercedes are the safe choices so you see a lot of them. Lexus is another solid choice as their cars are well appointed, without being ostentatious.

The Imperial Capital is the richest place on the planet, which makes a lot of sense, given that it is the capital of the empire. Half of the ten richest counties in America are around Washington DC. The reason for that is the people living in those counties either work for the government or they work for companies that have one customer – the Federal government. The average Federal salary is something north of $80,000 per year, while the average American salary is about $50,000. That’s before figuring in the lavish government benefits.

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Bibi Backs Trump — on Putin

Guest Post by Patrick J. Buchanan

Bibi Backs Trump — on Putin

Since Donald Trump said that if Vladimir Putin praises him, he would return the compliment, Republican outrage has not abated.

Arriving on Capitol Hill to repair ties between Trump and party elites, Gov. Mike Pence was taken straight to the woodshed.

John McCain told Pence that Putin was a “thug and a butcher,” and Trump’s embrace of him intolerable.

Said Lindsey Graham: “Vladimir Putin is a thug, a dictator…who has his opposition killed in the streets,” and Trump’s views bring to mind Munich.

Putin is an “authoritarian thug,” added “Little Marco” Rubio.

What causes the Republican Party to lose it whenever the name of Vladimir Putin is raised?

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This Might Just Be the Scariest Tweet You Will Ever Read in Your Life

Via The Daily Sheeple 

http://www.thedailysheeple.com/wp-content/uploads/2016/02/twitteringsoc.jpg

Without further ado, what may possibly be the scariest Tweet you will ever read in your entire life:

As @FLOTUS said, the choice in this election is about who will have the power to shape our children for the next four years of their lives.

Yep.

@HillaryClinton @FLOTUS The fact you think it’s government’s job to “shape our children” creeps me the hell out.

… Told ya.

And don’t forget…

@conkc2 @Coondawg68 @HillaryClinton @FLOTUS Don’t forget; “It takes a village”:


The “Living” Constitution…

Guest Post by Eric Peters

It’s said – approvingly, by some – that the Constitution is a “living” document.living-lead

Imagine any other contract that was also “living.” That is, subject to unilateral changes according to the whim of one of the parties to the contract.

Would you sign?

Would you feel yourself bound by such a contract?    

Probably not.

Any contract subject to change without the explicit prior consent – freely given – of both parties is no contract at all.

Continue reading “The “Living” Constitution…”

Core CPI Highest Since Lehman (Above Fed Mandate) As Rent, Healthcare Costs Soar

Even the world class data manipulators at the BLS can’t hide the crushing inflation impacting middle class Americans as home price soar due to Wall Street schemes, rent skyrockets because people can’t afford homes anymore, and healthcare cost are driven ever higher by the Obamacare disaster. And you wonder why the middle class is supporting Trump?
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“This is stagflation: the Fed is increasingly f#*ked,” exclaimed one veteran trader as Core CPI – among The Fed’s favorite inflation indicators after PCE – surged to +2.3% YoY, the highest since Sept 2008. This is the 10th month in a row above the Fed’s mandated 2% ‘stable’ growth as shelter and healthcare costs continue to surge.

Core CPI growth above Fed mandate for 10th month in a row.

Continue reading “Core CPI Highest Since Lehman (Above Fed Mandate) As Rent, Healthcare Costs Soar”

QUOTE OF THE DAY

“While Elizabeth Warren attempted to deliver her keynote speech at the Democratic Convention in July, which included an unabashed endorsement of Hillary Clinton after Warren had failed to endorse Senator Bernie Sanders during the critical primary campaign, chants of ‘we trusted you’ could be heard reverberating through the cavernous hall in Philadelphia…

It’s long past the time for the U.S. Senate to stop conducting isolated, piecemeal investigations and undertake the type of in-depth hearings that the Senate held from 1929 to 1932 that led to the public’s understanding of the serial criminal activities on Wall Street that had produced the Great Depression and which led to the passage of the Glass-Steagall Act — legislation which protected this nation for 66 years until its repeal in 1999 during the Bill Clinton administration.”

Pam and Russ Martens, Elizabeth Warren Opens Up Pandora’s Box


Harvard Crushes The “Obama Recovery” Farce With 9 Simple Charts

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A couple of months back we posted 9 charts that, at least in our minds, debunked the myth of the “Obama Recovery” despite suggestions from the administration that any such efforts were just a futile attempt at “peddling fiction” (our original post: “These Are The 9 Zero Hedge Charts Showing “Obama’s Recovery” That Angered The Washington Post“).

Turns out that Harvard likes to dabble in “fiction peddling” as well:

Harvard

 

In a recent study entitled “Problems Unsolved and a Nation Divided” (study can be viewed in its entirety at the end of this post), Harvard University points out that, despite claims of an “Obama Recovery,” in fact, the U.S. economy has continued to deteriorate in the aftermath of the “great recession.”  Among other things, Harvard attributes the economic deterioration to a “lack of economic strategy, especially at the federal level” and a “political system was once the envy of many nations” but has now “become our greatest liability.”  Below are a couple of the key conclusions:

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The US War On Terror Has Cost $5 Trillion And Increased Terrorism By 6,500%

Submitted by Darius Shahtahmasebi via TheAntiMedia.org,

On September 11, 2001, one of the most tragic events in recent American history took place. Close to 3,000 civilians lost their lives in horrific terror attacks that took place on American soil. Fifteen years later, it is time to ask the question: have our counterterror efforts helped to reduce the amount of terrorism in the world? Or at the very least, have they tried to make the world safer?

According to a report released by Dr. Neta Crawford, professor of political science at Brown University, spending by the United States Departments of Defense, State, Homeland Security, and Veteran Affairs since 9/11 is now close to $5 trillion USD. Before we have the chance to ask how a country that has racked up over $19.3 trillion USD in debt can spend $5 trillion USD on war, the focus of this article is to ask: What has all of this spending achieved?

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Legion of the Tinfoil Hat: Fred Reveals His Martian Loyalties

 

Conspiracy theories hold charm for such as I, who regard them as we might a species of rare insectivorous marsupials who glow in the dark, and for the conspiracy theorists themselves, who seem to derive from their conditions a satisfying sense of esoteric penetration. Yet they become wearisome by constant repetition. Some have. In particular, Nine/Eleven. In the following wew will ignore the more abundantly silly theories, such as that there were no Jews in the Towers on the day of the attacks. Some thoughts::

The Pentagon

At the time of Nine/Eleven, I was living in Colonial Village in Virginia, a few hundred yards from the Virginia terminus of Key Bridge. The bike path ran from there parallel to the Potomac past the Pentagon and National Airport to the Washington Sailing Marina. On the wooden deck overlooking the water a concession sold snacks and Budweiser. A mixed group of oddballs foregathered daily to socialize.

One was Dave Winslow, whom we called Broadcast Dave to distinguish him from a couple of other Daves, Winslow having been involved in radio broadcasting in an earlier life. We often swapped journalism stories. His apartment was nearby. The day after the Pentagon blew up, he recounted being at home, hearing a plane coming in unusually low, looking out the window, and seeing the tail flash by, boom.

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RESEGREGATION

Guest Post by Ol’ Remus

Zack Linly said, in an article at the Washington Post entitled “It’s Time to Stop Talking About Racism With White People”,

Black people, it is long past time for us to start practicing self-care. And if that means completely disengaging with white America altogether, then so be it.

Would that it were so. Now that we’ve tested the alternative, a general reset seems an attractive option. Resegregation is becoming a “thing” among blacks lately, all very high-minded of course, except the part about how it would be financed. Zack Linly describes himself as “a poet, performer, freelance writer, community organizer and activist living in Atlanta”. There’s your answer.

Somehow I don’t believe his prospective recruits will contribute much more than running their mouths either, but notice Black Lives Matter now has a budget of $133 million, none of it from bake sales. Mr. Linly’s notion of complete disengagement may be good for much more. It’s a brilliant business model, wide appeal on all sides, relatively untilled ground, high “wow” factor.

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