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Bernanke is No Hero

Bill Bonner (August 28th, 2009) Writes:

“They were hunters. They stayed here during the Ice Age, probably hunting reindeer,” said the archaeologist in charge of the site. “But who were they?”

“They were Cro-Magnon…they were like us…human. They wore jewelry. They drew pictures. They cooked meat. And they used this cave over a period of 30,000 years…”

Yesterday afternoon, we drove up the valley to a limestone cave owned by friends. There, a group of 20 scientists, archeologists and volunteer workers are digging down through 30,000 years of history, about 20 feet worth of dirt, rock and sediment, 5 centimeters at a time.

We’ll come back to the pre-historic world in a minute. First, let’s catch up on what is going on in the world of finance, right now.

Yesterday, most of the news and commentaries concerned either the death of Edward Kennedy or the life of Ben Bernanke. We do not speak ill of dead, not here at The

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Next to go belly up … Pension Benefit Guaranty Corp

Trading School (May 19th, 2009) Writes:

From our business news partner.

Deficit surges at agency that insures pensions

By DEB RIECHMANN Associated Press Writer

(AP:WASHINGTON) In an ominous setback, the government agency that insures the pensions of 44 million Americans has amassed a record $33.5 billion deficit _ triple what it was just six months ago.

The bleak financial snapshot, in a report obtained by The Associated Press, raises new fears that a federal bailout eventually will be needed for the Pension Benefit Guaranty Corp. The beleaguered agency is being saddled with the underfunded pension plans of companies going bankrupt in the worst economic slump since the Great Depression.

A rare midyear financial update requested by Congress shows the $11.1 billion deficit the agency posted at the end of its fiscal year on Sept. 30 has swelled by $22.5 billion to its highest level in the agency’s 35-year history.

The agency’s acting director says, however, that the more than 640,000 people

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You’ll Soon Need Government Permission To Fly From NYC To LA

Contrarian Profits (November 13th, 2008) Writes:

Last year, I wrote that if Uncle Sam gets his way, we’d all be on no-fly lists, unless the government gives us permission to leave - or re-enter - the United States. That day has now arrived, but in addition to obtaining Big Brother’s permission to travel internationally, a final rule pursuant to the U.S. Transportation Security Administration’s “Secure Flight” initiative says we must now get it to travel from state-to-state.”

At some point in the future, you’ll need to reveal your name, gender, and date of birth when you make a domestic airline reservation. The airline will contact TSA to determine if you’re cleared to board. If you’re on any of TSA’s watchlists (which include such deceased “terrorists” as Saddam Hussein, along with live ones such as Sen. Edward Kennedy), you’ll need to provide an official document acceptable for federal identification purposes in order to travel.

Examples of acceptable

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Grigory Pasko: Oleg Kozlovsky Receives Human Rights Award

Robert Amsterdam (October 22nd, 2008) Writes:
Award finds a hero By Grigory Pasko, journalist kozlov030808-thumb.jpgAs is being reported on the Human Rights in Russia website, coordinator of the Oborona movement, Oleg Kozlovsky, has received the Human Rights Award, conferred annually by the human rights organization Human Rights First. As they reported in the press-service of the organization, the 30th jubilee award ceremony will take place in New York on 23 October. Among the previous laureates of this award are the Russian human rights advocate Ludmilla Alexeeva, UN High Commissioner for Human Rights Mary Robinson, philanthropist George Soros, dissident Natan Sharansky, senator Edward Kennedy, and other people who have made a significant contribution to the defense of human rights in the world and in their countries – reports Human Rights First.

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