Saudis Threaten to Sell $750 Billion in U.S. Treasuries Over 9/11 Bill

April 17th, 2016

The word, “Bush” doesn’t appear in this piece even once.

Bush-Saudi-Arabia

And what is Marvin up to these days?

Via: New York Times:

Saudi Arabia has told the Obama administration and members of Congress that it will sell off hundreds of billions of dollars’ worth of American assets held by the kingdom if Congress passes a bill that would allow the Saudi government to be held responsible in American courts for any role in the Sept. 11, 2001, attacks.

The Obama administration has lobbied Congress to block the bill’s passage, according to administration officials and congressional aides from both parties, and the Saudi threats have been the subject of intense discussions in recent weeks between lawmakers and officials from the State Department and the Pentagon. The officials have warned senators of diplomatic and economic fallout from the legislation.

Adel al-Jubeir, the Saudi foreign minister, delivered the kingdom’s message personally last month during a trip to Washington, telling lawmakers that Saudi Arabia would be forced to sell up to $750 billion in treasury securities and other assets in the United States before they could be in danger of being frozen by American courts.

Several outside economists are skeptical that the Saudis will follow through, saying that such a sell-off would be difficult to execute and would end up crippling the kingdom’s economy. But the threat is another sign of the escalating tensions between Saudi Arabia and the United States.

The administration, which argues that the legislation would put Americans at legal risk overseas, has been lobbying so intently against the bill that some lawmakers and families of Sept. 11 victims are infuriated. In their view, the Obama administration has consistently sided with the kingdom and has thwarted their efforts to learn what they believe to be the truth about the role some Saudi officials played in the terrorist plot.

“It’s stunning to think that our government would back the Saudis over its own citizens,” said Mindy Kleinberg, whose husband died in the World Trade Center on Sept. 11 and who is part of a group of victims’ family members pushing for the legislation.

President Obama will arrive in Riyadh on Wednesday for meetings with King Salman and other Saudi officials. It is unclear whether the dispute over the Sept. 11 legislation will be on the agenda for the talks.


Japan: Toyota Halts Vehicle Production Due to Supply Disruptions After Earthquakes

April 17th, 2016

Via: Reuters:

Toyota Motor Corp <7203.T>, the world’s biggest-selling automaker, said on Sunday it would suspend much of its production at plants across Japan this week after earthquakes in the country’s south led to a shortage of parts, while some other manufacturers extended stoppages due to damage to factories.

The earthquakes on Thursday and Saturday, which killed at least 41 people, reflected the vulnerability of Japanese companies to supply chain disruptions caused by natural disasters, and also highlighted the “just in time” philosophy pioneered by Toyota and followed by many others.


World’s Biggest Oil Producers Meet to Discuss Possible Freeze on Production

April 17th, 2016

Via: Guardian:

The world’s biggest oil producers will huddle in Doha on Sunday in a rare off-scheduled meeting where discussion about what they can do to staunch the continued global surplus of crude oil that’s weighed on prices for nearly two years.

Hopes that members in the Organization of Petroleum Exporting Countries cartel and non-Opec oil suppliers, mostly notably Russia, may agree to freeze production pushed crude oil prices to their highest levels this year ahead of a meeting between the two groups.


Why, Where & How to Do Wind Electricity

April 16th, 2016

Disclosure: I sell solar power systems in New Zealand.

As New Zealand’s electricity cartel ramps up the war on solar power, I’m starting to take a more serious look at the end game: Disconnection from the grid.

While I’m not sure how I want to handle this yet, one thing is certain: Wind power won’t be in the mix for us.

I’d be willing to bet that our land is among the worst sites for wind power anywhere in New Zealand. It’s dead still most of the time and when there is a breeze, it swirls around a lot.

As pessimistic as I was about wind power (it’s just dead obvious that there’s no way for it to work for us) I thought I’d read up a bit on it anyway, just to make sure.

Wow. It’s not that bad. It’s worse. *chuckle* The article below is an absolutely excellent and realistic look at small scale wind power.

Alternate title suggestion: Small Scale Wind Power: The Good, The Bad and The Ugly.

All of that said, if you have a genuinely suitable location, wind power can be good.

Via: Home Power:

Making electricity with the wind is not easy. As seasoned wind-energy installers with decades of experience, we—as well as thousands of others who live with home-scale wind turbines—tell a challenging tale. And the small wind industry today reflects those challenges, with long-established companies struggling and going under while the cost of reliable solar-electric modules continues to drop. If you think you want a wind-electric system, first think smart, then realistically.


When Lobbying Was Illegal

April 16th, 2016

Via: Priceonomics:

Wouldn’t it be nice if lobbying were illegal?

It’s a tempting thought. But it seems impossible. Lobbying is a multi-billion dollar industry and an accepted—if hated—part of American politics. American courts have ruled that lobbying is constitutionally protected free speech, and lawyers and laymen alike generally accept this.

The same is true of more indirect lobbying, like the Citizens United Supreme Court ruling that allows businesses to spend unlimited sums of money on Super Pacs and advertisements for or against a candidate.

Yet from America’s founding through much of the 19th century, the legal system treated lobbying as a corrupt and illegitimate activity. Lobbying still happened, but a number of states made lobbying a criminal offense, and the federal government banned some forms of lobbying. This all happened without legal challenge, as the courts viewed lobbying as incompatible with the rights and responsibilities of citizenship.

This forgotten history of lobbying in America has been documented by Zephyr Teachout, an Elizabeth Warren-style academic turned activist-politician who believes that Americans—and American legal minds—have forgotten the long American tradition of treating lobbying as a violation of a citizen’s responsibility to represent only him or herself in the political process.

So how did we go from treating lobbying as illegitimate or illegal to protected free speech?


Bernie Earned Less in Year than Hillary Made in Single Speech

April 15th, 2016

Via: Weekly Standard:

Bernie Sanders reportedly earned just over $200,000 in 2014. That same year, Hillary Clinton, Sanders’s top Democratic rival, gave about 45 paid speeches, many of which paid her more in a single hour than Sanders made the entire year.

The Washington Post reports on Sanders’s income. “The senator from Vermont reported income of just more than $200,000 on his 2014 returns, according to the first few pages of his federal and Vermont filings, which were shared with The Washington Post back in June. On Friday, the couple is planning to release the rest of the returns, including attached schedules,” writes the paper. “The vast majority of the couple’s income came from Sanders’s $174,000 Senate salary and Social Security benefits that both he and his wife, Jane, a former college president, receive.”

In 2014 alone, Clinton gave speeches to GE (for $225,500), the National Automobile Dealers Association ($325,500), Deutsche Bank AG ($280,000), and many more.

As CNN reported at the beginning of this year, “Hillary Clinton and her husband, former President Bill Clinton, combined to earn more than $153 million in paid speeches from 2001 until Hillary Clinton launched her presidential campaign last spring, a CNN analysis shows.

“In total, the two gave 729 speeches from February 2001 until May, receiving an average payday of $210,795 for each address. The two also reported at least $7.7 million for at least 39 speeches to big banks, including Goldman Sachs and UBS, with Hillary Clinton, the Democratic 2016 front-runner, collecting at least $1.8 million for at least eight speeches to big banks.”


Pentagon Touts “Loyal Wingman” for Combat Jets

April 15th, 2016

If your trillion dollar F-35 boondoggle can’t fight, why not throw a magic-8 ball brain into older fighters that can?

Via: Flightglobal:

US Air Force plans to insert a “brain” into current-generation fighter jets to create autonomous flying wingmen paired with the Lockheed Martin F-35 were given a bump today, with the Pentagon’s second-in-charge saying he expects to see “unmanned wingmen in the air” before convoys of driverless Humvees.

Deputy defence secretary Robert Work touted the long-considered “loyal wingman” concept at a forum hosted by the Washington Post in Washington DC on 30 March, where he explained that the air force will pair unmanned Lockheed F-16s with F-35s in future battles.

“You take an F-16 and make it totally unmanned,” Work says. “The F-16 is a fourth-generation fighter, and pair it with an F-35, a fifth-generation battle network node, and have those two operating together.”

Work says he expects “unmanned wingman, unmanned undersea vehicles and surface vessels” as well as pilotless cargo helicopters for delivering supplies to troops on the battlefield to be introduced operationally before robotic military vehicles.

Work says the spread of autonomous technology and platforms “is inexorable”. “It is going to happen,” he says.


‘Wow!’ Signal Could be Explained After Almost 40 Years

April 15th, 2016

Via: Guardian:

He didn’t find aliens but he did find two suspicious looking comets.

Known as 266P/Christensen and 335P/Gibbs, they have never been investigated before because they were only discovered in 2006 and 2008 respectively. Paris found that they were both in the vicinity of Chi Sagittarii on the day that the ‘Wow!’ signal was detected.

This could be significant because comets are surrounded by clouds of hydrogen gas that are millions of kilometres in diameter. The ‘Wow!’ signal itself was detected by Ehman at 1420MHz, which is a radio frequency that hydrogen naturally emits. He published his idea at the beginning of this year.

But before the case can be closed, Paris must test his hypothesis and for this he needs public support.

Comet 266P/Christensen will pass the Chi Sagittarii star group again on 25 January 2017, while 335P/Gibbs will make its passage on 7 January 2018. Paris plans to observe these events to look for a recurrence of the mystery signal. But time is not on his side for using an existing radio telescope – they are all booked out.

So, he has launched a crowdfunding campaign on gofundme to raise the $13,000 he needs to buy a radio telescope to make the observation. Donations are rolling in and he is already most of the way to his target.

“I would like to [be fully funded] in May, order the stuff so that I can have it by October,” he says. This would give him time to construct the dish, test it and prepare for the January encounter.

Although some other astronomers have voiced scepticism at his hypothesis, Paris points out that even if he turns out to be wrong, it’s still good science because we are learning something about comets, and he and his colleagues have a new radio telescope that they can use for further research.

Also on the plus side; if it isn’t comets, SETI scientists still have their best candidate for an extraterrestrial signal.


Canadian Police Have Had Master Key to BlackBerry’s Encryption Since 2010

April 14th, 2016

Via: Vice:

A high-level surveillance probe of Montreal’s criminal underworld shows that Canada’s federal policing agency has had a global encryption key for BlackBerry devices since 2010.

The revelations are contained in a stack of court documents that were made public after members of a Montreal crime syndicate pleaded guilty to their role in a 2011 gangland murder. The documents shed light on the extent to which the smartphone manufacturer, as well as telecommunications giant Rogers, cooperated with investigators.

According to technical reports by the Royal Canadian Mounted Police that were filed in court, law enforcement intercepted and decrypted roughly one million PIN-to-PIN BlackBerry messages in connection with the probe. The report doesn’t disclose exactly where the key — effectively a piece of code that could break the encryption on virtually any BlackBerry message sent from one device to another — came from. But, as one police officer put it, it was a key that could unlock millions of doors.

Government lawyers spent almost two years fighting in a Montreal courtroom to keep this information out of the public record.


Most Americans Think Economy Is Getting Worse

April 14th, 2016

Recovery!

Via: CNBC:

Consumers have been the missing link in the U.S. economic recovery and are likely to remain so absent a major change in sentiment.

Despite the seemingly endless stream of Wall Street economists who believe the U.S. is about to snap out of its malaise, most Americans think the economy is bad and getting worse, according to several recent surveys.

One of the more glaring examples of how strong pessimism has become is Gallup’s U.S. Economic Confidence Index. The measure gauges the difference between respondents who say the economy is improving or declining. The most recent results are not good.

Fully 59 percent say the economy is “getting worse” against just 37 percent who say it is “getting better.” That gap of 22 percentage points is the worst since August, according to Gallup, which polled 3,542 adults. The index carries a sampling error of plus or minus 2 percentage points.


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