Feeds:
Posts
Comments

Archive for the ‘economics’ Category


‘More than 100 pages of previously classified Department of Defense and Department of State documents implicate the Obama administration in a cover-up to obscure the role Hillary Clinton and the State Department played in the rise of ISIS.

The documents were obtained in a Freedom of Information Act lawsuit filed by the Washington watchdog Judicial Watch.

They confirm WND reporting over the past three years of evidence that U.S. Ambassador Christopher Stevens was involved in shipping weapons from Benghazi to support the al-Qaida-affiliated militias fighting the Bashar al-Assad regime in Syria, effectively arming the Sunni jihadists who morphed into ISIS.’

Read more: Declassified docs: Hillary aided rise of ISIS

Read Full Post »


Here’s how much corporations paid US senators to fast-track the TPP bill

–Out of the total $1,148,971 given, an average of $17,676.48 was donated to each of the 65 ‘yea’votes.

| 27 May 2015 | A decade in the making, the controversial Trans-Pacific Partnership (TPP) is reaching its climax and as Congress hotly debates the biggest trade deal in a generation, its backers have turned on the cash spigot in the hopes of getting it passed… Ron Wyden and seven other Senate Democrats announced they were on the fence on 12 May, distinguishing themselves from the Senate’s 54 Republicans and handful of Democrats as the votes to sway. In just 24 hours, Wyden and five of those DemocRATic holdouts — Michael Bennet of Colorado, Dianne Feinstein of California, Claire McCaskill of Missouri, Patty Murray of Washington, and Bill Nelson of Florida — caved and voted for fast-track. Bennet, Murray, and Wyden — all running for re-election in 2016 — received $105,900 between the three of them. Bennet, who comes from the more purple state of Colorado, got $53,700 in corporate campaign donations between January and March 2015, according to Taylor Channing’s research.

Read Full Post »


Last week an underground pipeline ruptured in Santa Barbara, California, spewing about 105,000 gallons of oil. A 9-mile slick coated birds, killed sea life, and blackened pristine beaches. The 28-year-old line was operated by Plains All America Pipeline—which has the fifth-worst safety and maintenance records out of the 1,700-plus U.S. operators.

A record number of oil pipeline spills have been in the news—including the 105,000 gallons spilled in Santa Barbara last week.

Nationwide, pipeline accidents are shockingly commonplace. Some leaks are small. Others are massive, like the 2010 rupture of Enbridge Energy’s “Line B” pipeline in Marshall, Michigan, the largest, costliest onshore oil spill in U.S. history. It spewed 843,000 gallons of highly polluting tar sands oil (bitumen) into a field and the Kalamazoo River. Some 40 miles of river remained closed for years because, unlike conventional crude, the heavy bitumen sinks, making cleanup difficult.

http://www.theepochtimes.com/n3/1370500-santa-barbara-spill-failing-us-pipelines/

Read Full Post »


US infrastructure is *disintegrating* – but Israel needs to carry out more war crimes, so US taxpayers will fund the latter:

Israel asking US for 50% increase – to reach $4.5bn – in next defense package

| 26 May 2015 | Israel reportedly wants the US to increase its annual defense assistance package by half, to an average [eye-popping] $4.5 billion. Defense News reported this weekend that Israel and US officials have in recent months begun negotiations on the next 10-year aid package. The previous package, negotiated by the George W. Bush and Ehud Olmert governments in 2007, averaged $3 billion of assistance each year, for a total of $30 billion, from 2007-2017.

Read Full Post »


As the WSJ reported yesterday when it sent the semiconductor space soaring, moments ago Avago (21x EV/EBITDA) confirmed it would buy Broadcom (19x EV/EBITDA) for $37 billion.  The reason for the deal: as the WSJ noted yesterday, “growth has been hard to come by for Broadcom, a 24-year-old company that makes communications chips for tablets and smartphones, and supplies the Internet links for cable-television and telecommunications devices.” Or, in other words, only a delusional, yield-chasing bond holder would be willing to fund (with other people’s money) the 18.9x Broadcom EV/EBITDA take out price and just like in the oil and E&P space, when organic growth dries out, there is always zero cost debt to extend the dream a little longer.

Neither Avago nor Broadcom has the kind of dominance over individual markets that better-known rivals such as Intel Corp. and Qualcomm Inc. enjoy, and a merger could help address that. In addition to consumer applications, Broadcom supplies the vast majority of chips used in the latest networking switches found in corporate data centers, a fast-growing business that could enhance Avago’s communications-focused revenue stream.

 

Broadcom was co-founded by a team led by engineers Henry Samueli, who remains chairman and chief technology officer, and Henry Nicholas III, a former chief executive who stepped down in 2003. Mr. Nicholas held about 25% of Broadcom’s voting shares as of the end of March, according to the company’s most recent proxy statement. Mr. Samueli held about 22%.

 

Avago once was part of Agilent Technologies Inc., which spun off from H-P in 1999. Agilent later sold what’s now Avago to private-equity firms Silver Lake, and KKR & Co. in a $2.66 billion buyout.

http://www.zerohedge.com/news/2015-05-28/its-official-avago-buys-broadcom-37-billion-deal-thousands-employee-layoff-synergies

Read Full Post »


Israel is refusing to comply with an order by a Swiss court that it pay $1.1 billion that it has owed to Tehran since before Iran’s 1979 Islamic revolution for its share of a jointly owned oil pipeline.

“Without referring to the matter at hand, we’ll note that according to the Trading with the Enemy Act it is forbidden to transfer money to the enemy, including the Iranian national oil company,” the Israeli Finance Ministry said in a statement.

The complex dispute stems from 1968, when Shah Reza Pahlavi ruled Iran. The Eilat Ashkelon Pipeline Co. (EAPC) was created as a joint venture between an Israeli company, Trans-Asiatic Oil Ltd. (TAO), which is registered in Panama, and the National Iranian Oil Co. to supply Iranian oil to Europe.

More: http://oilprice.com/Latest-Energy-News/World-News/Israel-Refuses-To-Pay-Old-Oil-Debt-To-Iran.html

Read Full Post »


Late last month we outlined an IBTimes report which showed that Goldman Sachs paid nearly a quarter of a million dollars to Bill Clinton for a speech before lobbying the State Department (then run by Hillary Clinton) on legislation tied to the Export-Import Bank which would eventually approved a loan to a Chinese company that subsequently placed a $75 million purchase order with a Goldman-owned aircraft manufacturer. The implication, of course, was that the speaking engagement fee ultimately influenced the State Department’s decision making, a suggestion Goldman called “preposterous.”

The Clintons have also come under scrutiny for possible conflicts of interest arising from contributions to Clinton Foundation charities while Hillary Clinton served as the nation’s top diplomat. More specifically, a Reuters investigation revealed that the Foundation failed to report “tens of millions” of donations from foreign governments on three years’ worth of 990s, prompting the organization’s acting CEO Maura Pally to pen a lengthy blog post explaining the “mistake.” Shortly thereafter, Reuters found inaccuracies in Pally’s explanation, noting that in fact, Clinton broke transparency promises made to the Obama administration.

Now, the IBTimes is out with a new investigative piece that looks at the relationship between foreign government and corporate donors to Clinton charities and weapons deals negotiated under Hillary Clinton’s State Department which, as it turns out, approved $165 billion in arms deals to nations who had previously given money to the Clinton Foundation. 

Via IBTimes:

In the years before Hillary Clinton became secretary of state, the Kingdom of Saudi Arabia contributed at least $10 million to the Clinton Foundation, the philanthropic enterprise she has overseen with her husband, former president Bill Clinton. Just two months before the deal was finalized, Boeing — the defense contractor that manufactures one of the fighter jets the Saudis were especially keen to acquire, the F-15 — contributed $900,000 to the Clinton Foundation, according to a company press release.

The Saudi deal was one of dozens of arms sales approved by Hillary Clinton’s State Department that placed weapons in the hands of governments that had also donated money to the Clinton family philanthropic empire, an International Business Times investigation has found.

Under Clinton’s leadership, the State Department approved $165 billion worth of commercial arms sales to 20 nations whose governments have given money to the Clinton Foundation, according to an IBTimes analysis of State Department and foundation data. That figure — derived from the three full fiscal years of Clinton’s term as Secretary of State (from October 2010 to September 2012) — represented nearly double the value of American arms sales made to the those countries and approved by the State Department during the same period of President George W. Bush’s second term…

The Clinton-led State Department also authorized $151 billion of separate Pentagon-brokered deals for 16 of the countries that donated to the Clinton Foundation, resulting in a 143 percent increase in completed sales to those nations over the same time frame during the Bush administration. These extra sales were part of a broad increase in American military exports that accompanied Obama’s arrival in the White House.

http://www.zerohedge.com/news/2015-05-26/hillary-clintons-state-department-approved-165-billion-arms-deals-clinton-foundation

Read Full Post »


WASHINGTON — Israel reportedly wants the US to increase its annual defense assistance package by half, to an average $4.5 billion.

Defense News reported this weekend that Israel and US officials have in recent months begun negotiations on the next 10-year aid package.

The previous package, negotiated by the George W. Bush and Ehud Olmert governments in 2007, averaged $3 billion of assistance each year, for a total of $30 billion, from 2007-2017.

http://www.timesofisrael.com/israel-asking-us-for-50-increase-in-next-defense-package/

Read Full Post »


‘Inspired by Chinese floating fish farms, these rectangular units measure 200×350 meters and can connect with other modules via walkways. The usage of waterways is a great compliment to the farming industry because it makes farming available in so many more locations. It reduces the need to import food by localizing growth and incorporates rivers and lakes as viable “farmland.”

Each unit is comprised of three levels. The bottom floor focuses on aquaculture and water desalination, the first floor on hydroponic crop cultivation, and the roof is adorned with solar panels, skylights and rainwater collectors.’

Read more: This solar powered floating farm can produce 20 tons of vegetables every day

Read Full Post »


Read Full Post »


Service members and other Pentagon employees used Defense Department credit cards for thousands of unauthorized transactions at casinos and strip clubs across the country, according to an audit released Tuesday by the Pentagon’s internal watchdog.
The report by the department’s Office of Inspector General found that misuse of the official credit cards was highest in the Air Force, followed by the Army, the Navy and the Marine Corps, for the one-year period investigated, July 1, 2013, through June 30, 2014.
The locations where Defense Department credit cards were used for personal transactions included the VIP Room of theSapphire Gentlemen’s Club and Vegas Showgirls in Las Vegas, Larry Flynt’s Hustler Club in Baltimore, and Dreams Cabaret in El Paso, Texas.
“DOD cardholders improperly used their government travel charge card for personal use at casinos and adult entertainment establishments,” Michael J. Roark, assistant inspector general for contract management and payments, wrote in the report.
The head of the Defense Travel Management Office acknowledged the abuses, but protested that they represent a tiny fraction of overall use of the Pentagon’s travel credit cards.
“The report language applies a very broad stroke against all cardholders when, in reality, personal use of the Government Travel Charge Card is negligible when compared to the size and scope of the program,” Harvey W. Johnson, the office director, responded in a letter provided along with the report.
He noted that a total of $3.4 billion in legitimate expenses were charged to the cards in the same time period.
Perhaps the most intriguing aspect of the report is its identification of over $2.2 million in charges for what it described as “official use” at casinos and adult establishments.
The finding suggests that Pentagon personnel are permitted in some circumstances to dine and drink or entertain at casinos and strip clubs.
The inspector general’s office found weak internal controls in Pentagon accounting systems and failures to report suspicious charges to the Defense Department by Citibank, which provides the travel cards. Several Pentagon financial agencies and Citibank agreed to implement stronger controls, such as using codes to ferret out casinos and strip clubs that use innocuous-sounding names to disguise the nature of their business.
The Pentagon also agreed to be on the lookout for red flags such as ATM cash withdrawals that exceed travel amounts allowed for meals and incidental expenses and multiple ATM withdrawal rejections.
In one example cited in the report, a petty officer first class with the Navy Special Warfare Group spent six times his allotted meal and incidental expense money while visiting four different adult establishments in El Paso, spending $1,116 during 17 days of travel.
After an appearance before a Disciplinary Review Board, that officer completed Travel Card 101 training, signed a new statement of understanding on how to use the cards and provided a training session to his peers.

Read Full Post »


  • The Abraj Kudai, will be located in the holy city of Mecca, a city visited each year by more than 15 million Muslims
  • With twelve 44-story towers containing 10,000 rooms, the hotel, will have a total area of 1.4 million square metres
  • £2.25billion project will feature 70 restaurants, whole floors devoted to royalty and one of world’s largest domes
  • The Venetian and The Palazzo, Las Vegas, is the currently world’s largest hotel with 4,049 suites and 4,059 rooms

 

Plans have been unveiled to build the world’s largest hotel, which could be open as early as 2017.

The Abraj Kudai, will be located in the holy city of Mecca, Saudi Arabia, a city visited each year more than 15million Muslims.

With twelve 44-story towers containing 10,000 rooms, the hotel, which is being created by multi-national design group Dar Al Handasah will have a total area of 4.6 million square feet.

Plans reveal what the Abraj Kudai, the luxurious four-to-five-star hotel in the heart of the holy city of Mecca will look like

Plans reveal what the Abraj Kudai, the luxurious four-to-five-star hotel in the heart of the holy city of Mecca will look like

With 12 towers containing 10,000 rooms, the hotel, which is being created by Dar Al Handasah, will have an area of 4.6 million square feet

With 12 towers containing 10,000 rooms, the hotel, which is being created by Dar Al Handasah, will have an area of 4.6 million square feet

Work has already begun on the £2.25billion project, which will feature 70 restaurants, multiple helipads, whole floors devoted to royalty and one of the largest domes in the world, according to reports by design website designMENA.

Ten of the towers will cater for four-star guests, while the remaining two will offer luxurious five-star amenities.

On its website, Dar Al Handasah states: ‘With a total site area of approximately 60,000 m² and total built-up area of around 1.4 million m², the project is a residential and commercial complex that consists of a large podium topped by 12 towers accommodating several elements such as a podium housing a bus station, a shopping mall, restaurants and food courts, a convention center and car parks.

Read Full Post »


JNS.orgThe United States has proposed a $1.9 billion military package for Israel amid growing concerns over Iran.

The massive package, which was announced by the U.S. Department of Defense’s Defense Security Cooperation Agency and must be approved by Congress, includes 750 bunker buster precision-guided bombs and 3,000 Hellfire missiles, among several other items.

http://www.algemeiner.com/2015/05/20/us-proposes-1-9-billion-military-package-for-israel/

Read Full Post »


DECATUR, Ga. — More than $70,000 in campaign money has gone from Congressman Hank Johnson’s campaign into the pocket of the congressman’s wife, Mereda Davis Johnson. Rep. Johnson says his wife has earned every penny.

Democrat Hank Johnson was first elected to Congress following a memorable primary runoff in 2006 over the fiery incumbent Cynthia McKinney. Two years later, Rep. Johnson put his wife Mereda on the campaign payroll– even though Johnson was the only congressman in the state to run for re-election with no ballot opposition. Federal election records show Johnson’s campaign paid Mereda Davis Johnson $8250 in 2006. Mrs. Johnson has remained a presence on the payroll ever since.

“She kind of acts like a quarterback. A lot of people ordinarily just pick up the phone and call her,” Johnson said in an interview with 11Alive News. “I think anybody who deals with me knows that Mareda is intimately involved in every aspect of what I do.”

Congressional campaigns are financed with voluntary donations. No tax money is involved.

http://www.11alive.com/story/news/local/decatur/2015/03/05/georgia-politics-hank-johnson-campaign-congress-money/24443693/

Read Full Post »


 

Source: Lonely Libertarian

Read Full Post »

Older Posts »

Follow

Get every new post delivered to your Inbox.

Join 1,431 other followers

%d bloggers like this: