Showing posts from August 11, 2015

Statement On Charges Against HuffPost Reporter Ryan J. Reilly From Arrest In Ferguson

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[The Ferguson Police department needs to be shut down. When the press investigates, which seems to be the only mechanism for exposing what happened, the response is to charge them too. Lovely. *RON*]

Ryan Grim and Sam Stein, Huffington Post, 10 August 2015

The Huffington Post condemns the charges filed by St. Louis County against our Justice reporter, Ryan J. Reilly, while covering the protests in Ferguson last year. Ryan has the full support of The Huffington Post in fighting these charges.

Almost a year ago today, Ryan was working on his laptop in a McDonald's near the protests in Ferguson, Missouri. A crime was committed at the McDonald's, not by journalists, but by local police who assaulted both Ryan and Wesley Lowery of The Washington Post during violent arrests.

At least we know St. Louis County knows how to file charges. If Wesley Lowery and Ryan J. Reilly can be charged like this with the whole country watching, just imagine what ha…

The robot revolution is coming for Wall Street traders

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[Jobs have been disappearing from banking and finance due to technology for decades now and this trend will certainly continue. I want to know how much Wall Street paid the consultants of this study to show that the greatest resistance to eliminating people would come from people? Also see this piece from the London School of Economics: Industrial robots have boosted productivity and growth, but their effect on jobs remains an open question. *RON*]

Matt Turner, Business Insider, 11 August 2015

Technology is taking over Wall Street, and it means investment banking jobs of the future will look very different than they do today.

Traders are obviously no strangers to the growing use of tech. At most exchanges trading floors have been replaced by servers, and plenty of hedge funds rely on computer programs to make buy and sell decisions.

But in the next wave, computers will replace humans –who are expensive and prone to error – entirely, and jobs wi…

Competitiveness and Class Warfare

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[Who won the competition among nations? The 1% *RON*]
Paul Krugman, New York Times, 11 August 2015

For reasons not entirely clear to me, recently I found myself thinking about Lester Thurow’s Head to Head: The Coming Economic Battle Among Japan, Europe, and America. For those too young, or who don’t remember, Thurow’s book was a monster best-seller in the early 1990s; it resonated with many people who feared that America was losing its economic edge, that Japan was an unstoppable juggernaut, and so on. And it also played into the general notion of global economics as a struggle for competitive advantage, which is a perennial popular favorite.

I was pretty critical of that notion at the time, arguing that economic success or failure had little to do with international competition. But what I found myself thinking about was the question of who really did best in the decades that followed Thurow’s book. And the answer is … nobody.

The chart shows real…

Why The Loonie's Decline Could Mean A ‘Landslide' Against Harper

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[Just an interesting factoid. The last two times the Canadian dollar was as low as it is now, the Prime Minister was kicked out of office on his butt. See also this graph of USD/CAD:
By Daniel Tencer, Huffington Post, 10 August 2015

The Canadian dollar has been trading near 11-year lows of around 76 or 77 cents U.S. over the past couple weeks, and while that may seem to be a marginal issue in the federal election, if history is any indicator, it could be a very bad sign for the governing Conservatives.

Why? Because the last two governments to hold an election after a major drop in the loonie were wiped out in landslides, Bloomberg Business reports in an analysis of economic data to watch ahead of the 2015 election.

They produced a chart showing the change in the Canadian dollar's value for the 12 months ahead of every federal election in Canada since the loonie started floating freely against other currencies in 1970. It showed that th…

Rand Paul Dismisses Concerns About Income Inequality, Says Some People Just ‘Work Harder’

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[One day pretty soon politicians on the right and left in the US are simply going to disappear in one big matter-antimatter explosion. *RON*]

By Kira Lerner, Think Progress, 10 August 2015
Republican presidential candidate Rand Paul said on Fox News on Sunday that income inequality is “due to some people working harder,” denying studies that have shown his flat tax plan would increase inequality.

Fox News anchor Chris Wallace asked the Kentucky senator about his flat tax plan, a topic Paul said he wished had come up in the first GOP debate. “Doesn’t your plan massively increase income inequality?” Wallace asked.

“The thing is, income inequality is due to some people working harder and selling more things, so if people voluntarily buy more of your stuff, you’ll have more money,” Paul responded. “It’s a fallacious notion to say, ‘oh well rich people get more money back in a tax cut.’ If you cut taxes ten percent, ten percent of a million is more than…

Media let Liberals get away with murder on IPPs, now LNG

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[Res Ipsa Loquitur - I'm going to have to remember that one! Rafe Mair tells it like it is: the mainstream media is the 1% *RON*]

By Rafe Mair, Common Sense Canadian, 10 August 2015
A flash of anger came over me when Ian Jessup of CFAX 1070, Victoria, asked me to come on his show and talk about so-called independent power producers (IPPs), euphemistically referred known as “run of river”.

No, I sure as hell wasn’t mad at Ian – he’s is one of the few bright lights left in radio who is not afraid to do the tough subjects and to call it like it is. I congratulate CFAX for having the balls to do the show.

What angered me was that no one in the mainstream media has touched this subject from the beginning.

This Is How Different Police Violence Is In The U.S. And Europe

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[Absolutely incredible! *RON*]
By Dylan Petrohilos,, 10 August 2015

There were more fatal shootings by police in the U.S. on the weekend of August 6 through 9 than there were in all of 2014 in Germany, Norway, and England and Wales combined, according to statistics from

This weekend was the anniversary of the shooting of unarmed teenager Michael Brown in Ferguson, Missouri.

This further reinforces that the U.S. has particularly extreme levels of police violence driven by racism, and that sweeping changes in how police operate are needed. Police in Germany fired only 85 bullets in all of 2011, while American police have fired 90 in single incidents. In the first half of 2015, police killed at least 550 people in the U.S.

For Many in Spain, a Heralded Economic Recovery Feels Like a Bust

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[Spain should not be considered a poster child for austerity. What works in Spain is tourism, and all the profit from this goes to the 1% who own the hotels and the restaurants. The average person, as this story illustrates, is not sharing in the 'recovery' and is in fact often suffering. Many beggars wander from sidewalk table to sidewalk table in the beautiful old downtowns of tourist Spain. *RON*]

By Suzanne Daley, New York Times, 10 August, 2015
ZARAGOZA, Spain — He used to be an interior designer, outfitting shops for one of Spain’s biggest clothing store chains.

But that was years ago. Recently, Angel Puyalón, 50, was just hoping to get a call back for a job sorting recyclables. Mr. Puyalón said he would be glad for any work now. His unemployment benefits are finished. He and his wife can no longer pay their mortgage, and they are relying on a food bank to eat.

“They say there is a recovery,” Mr. Puyalón said at home here, with a stac…