Keiser Report: Twinkies, Finance, Scandal (E369) (3rd Anniversary Edition) – YouTube

In this episode, Max Keiser and Stacy Herbert present a success story for the three year anniversary of the Keiser Report and that is that the banksters are going the way of Twinkies, Ho Ho’s and Ding Dongs – OUT OF BUSINESS! And just as the junk food and fake bread of the Hostess products caused obesity and diabetes in Americans, so too did the junk bonds and toxic derivatives of the bankers and central bankers cause a flabby, obese and diabetic finance sector in London and New York. In the second half, Max Keiser talks to Ross Ashcroft, writer and director of FOUR HORSEMEN, about why many people didn’t see the financial crisis and what can be done to regain control of the financial system.

via Keiser Report: Twinkies, Finance, Scandal (E369) (3rd Anniversary Edition) – YouTube.

SEC Rocked By Lurid Sex-and-Corruption Lawsuit | Matt Taibbi | Rolling Stone

Move over, adulterous generals. It might be time to make way for a new sexual rats’nest – at America’s top financial police agency, the SEC.

In a salacious 77-page complaint that reads like Penthouse Forum meets The Insider meets the Keystone Kops, one David Weber, the former chief investigator for the SEC Inspector General’s office, accuses the SEC of retaliating against Weber for coming forward as a whistleblower. According to this lawsuit, Weber was made a target of intramural intrigues at the agency (which has a history of such retaliation) after he came forward with concerns that his bosses may have been spending more time copulating than they were investigating the SEC.

Continued:

via SEC Rocked By Lurid Sex-and-Corruption Lawsuit | Matt Taibbi | Rolling Stone.

Martin Lewis: It’s time to ban Christmas presents – Telegraph

Is it time to ban Christmas presents? Across the country people are growling at the enforced obligation to waste money on tat they can’t afford, for people who won’t use it. Festive gift-giving has lost its point, risks doing more harm than good, mis-teaches our children about values and kills the joy of anticipation of what should be a joyous time.

Before you think this is just curmudgeonly bah-humbug, this rant isn’t about presents under the spruce from parents or grandparents to children or spouses. It’s about the ever-growing creep of gifts to extended family, colleagues, children’s teachers and more.

I first braved this subject on my website back in 2009, expecting a snowstorm of protest. Instead, many people joined my call to arms, relieved they were not alone in their distaste for the gifting ritual.

The next year, I polled 10,000 people on whether we should ban presents. Seven per cent said ditch all of them, 30 per cent said to all but children, and a further 46 per cent said limit it to the immediate family. Fewer than one in five supported giving beyond that.

Continued:

via Martin Lewis: It’s time to ban Christmas presents – Telegraph.

Europe Is Now Sinking Fast | Peak Prosperity

With the Eurozone having being displaced from the financial headlines by the American presidential election, you might have briefly thought that its problems had gone away. They haven’t.

It’s just that the public is expected to absorb one major story at a time. And now that the presidential election is done and dusted, Europe is rapidly returning to the headlines. This is not desired by the powers-that-be, who desperately need us to believe things will get better with a little patience.

Behind the scenes, in order to prevent a systemic crisis, the authorities (through the European Central Bank) have been hard at work keeping a lid on interest rates for Spain and Italy, which act as everyone’s market bell-weather. Their strategy focuses on the hope that high bond yields are just a lack of ‘animal spirits’ — and if only they can be reignited!

Time is working against all countries in the Eurozone, because the good are being dragged down by the bad.

Continued:

via Europe Is Now Sinking Fast | Peak Prosperity.

Stop pretending the US is an uninvolved, helpless party in the Israeli assault on Gaza | Glenn Greenwald | Comment is free | guardian.co.uk

A Palestinian man carries a wounded child in Gaza

 

Stop pretending the US is an uninvolved, helpless party in the Israeli assault on Gaza | Glenn Greenwald | Comment is free | guardian.co.uk.

Democracy and Majority Rule by Walter E. Williams

 

President Barack Obama narrowly defeated Gov. Mitt Romney in the popular vote 51 percent to 48 percent. In the all-important Electoral College, the difference was larger, with Obama winning 303 electoral votes and Romney 206. Let’s not think so much about the election’s outcome but instead ask: What’s so good about democracy and majority rule?

How many decisions in our day-to-day lives would we like to be made through majority rule or the democratic process? How about the decision to watch a football game or “Law and Order”? What about whether to purchase a Chevrolet Volt or a Toyota Prius? Would you like the decision of whether to have turkey or ham for Thanksgiving dinner to be made through the democratic process? Were such decisions made in the political arena, most of us would deem it tyranny.

Democracy and majority rule give an aura of legitimacy and decency to acts that would otherwise be deemed tyranny. Most people would agree that having our decisions on what television shows to watch, what kind of car we’ll purchase and what we’ll eat for Thanksgiving dinner made through the democratic process is tyranny. Why isn’t it also tyranny for the political process to determine decisions such as how much should be put aside out of our paycheck for retirement; whether we purchase health insurance or not; what type of light bulbs we use; or whether we purchase 32- or 16-ounce soda containers?

The founders of our nation held a deep abhorrence for democracy and majority rule. The word democracy appears in neither of our founding documents: our Declaration of Independence and Constitution. In Federalist Paper No. 10, James Madison wrote, “Measures are too often decided, not according to the rules of justice and the rights of the minor party, but by the superior force of an interested and overbearing majority.”

John Adams predicted, “Remember, democracy never lasts long. It soon wastes, exhausts, and murders itself. There was never a democracy yet that did not commit suicide.”

Edmund Randolph said, “… that in tracing these evils to their origin every man had found it in the turbulence and follies of democracy.”

Chief Justice John Marshall observed, “Between a balanced republic and a democracy, the difference is like that between order and chaos.”

In a word or two, the founders knew that a democracy would lead to the same kind of tyranny the colonies suffered under King George III. Our founders intended for us to have a republican form of limited government where political decision-making is kept to the minimum.

Alert to the dangers of majoritarian tyranny, our Constitution’s framers inserted several anti-majority rules. One such rule is that election of the president is not decided by a majority vote but instead by the Electoral College. Nine states have more than 50 percent of the U.S. population. If a simple majority were the rule, conceivably these nine states could determine the presidency. Fortunately, they can’t because they have only 225 Electoral College votes when 270 of the 538 total are needed. Were it not for the Electoral College, presidential candidates could safely ignore less populous states.

Two houses of Congress pose another obstacle to majority rule. Fifty-one senators can block the designs of 435 representatives and 49 senators. The Constitution gives the president a veto that weakens the power of 535 members of both houses of Congress. It takes two-thirds of both houses of Congress to override a presidential veto. To change the Constitution requires not a majority but a two-thirds vote of both Houses to propose an amendment, and to be enacted requires ratification by three-fourths of state legislatures.

Today’s Americans think Congress has the constitutional authority to do anything upon which they can get a majority vote. We think whether a measure is a good idea or a bad idea should determine its passage as opposed to whether that measure lies within the enumerated powers granted Congress by the Constitution. Unfortunately, for the future of our nation, Congress has successfully exploited American constitutional ignorance or contempt.

via Democracy and Majority Rule by Walter E. Williams.