The Default Solution | Unfilter 70

Posted on: October 9, 2013

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The Default Solution | Unfilter 70

The shutdown showdown marches on, as both sides double up on the hothead nonsensical rhetoric. But behind the scenes the debate is taking a new direction. A cool analysis of the situation reveals several options are available to settle the standoff. We’ll look at those options, and why big money is preparing for default.

Plus a critical look at the unlimited amounts of money about flow into American politics, the recent military raids in africa, your feedback, our follow up and much much more.

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— Show Notes —

NSA is CRAZY

“I must admit in my darker moments over the past several
months, I’d also thought of nominating Mr. Snowden, but it was
for a different list,” Hayden said during a cybersecurity
panel hosted by the Washington Post.

As the audience laughed, US lawmaker Rep. Mike Rogers, chairman
of the House Intelligence Committee, offered Hayden his support:
“I can help you with that,” he said.

“The failures that occurred during testing have been mitigated. A project of this magnitude requires stringent management, oversight and testing before the government accepts any building,” an NSA spokeswoman told WIRED by email.

But the Wall Street Journal reports that there is disagreement about whether the proposed solutions will work. The Army Corps of Engineers is overseeing construction of the data center, and the electrical system itself was built by architecture firm KlingStubbins, which is a joint venture of three companies: Balfour Beatty Construction, DPR Construction and Big-D Construction Corp. Although the contractors have a fix in place, the cause of the surges — known as “arc fault failures” — is unknown.

While the National Security Agency (NSA) has largely escaped the government shutdown, the panel investigating NSA spying practices haseffectively been frozen. Politico reports that as of Friday, the five-member Review Group on Intelligence and Communications Technologies lost its staff to the furlough associated with the government shutdown.

The group, which is largely comprised of intelligence community and White House insiders, was initially scheduled to remain running during the furlough. However, former acting CIA director Michael Morell declined to attend a scheduled meeting Tuesday, citing the shutdown: “While the work we’re doing is important, it is no more important than — and quite frankly a lot less important — than a lot of the work being left undone by the government shutdown, both in the intelligence community and outside the intelligence community.”

The U.S. Supreme Court is poised to strike down a law prohibiting unlimited campaign contributions.

“The latest case would go even further than Citizens United,” he said. “It would say anything goes: there are no rules in terms of how to finance campaigns.”

The challengers take issue with separate overall limits of $48,600 every two years for individuals’ contributions to all federal candidates and $74,600 to political party committees. (Federal law continues to ban direct contributions to candidates or political parties from corporations and unions.)

“These limits,” said Erin E. Murphy, a lawyer for Mr. McCutcheon, “simply seek to prevent individuals from engaging in too much First Amendment activity.”

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Shutdown Showdown

“Tough luck,” these people say. The nation spends too much as it is. Blocking a debt ceiling increase will provide the radical shock therapy the nation desperately needs to start living within its means.

“We have 10 times as much tax revenue as we’ve got annual interest on the debt obligations,” Rep. Mo Brooks (R-Ala.) said in an interview, offering the key talking point of the debt limit denial caucus. “So if the president does not want us to default on our credit or obligations, we won’t.”

Other members say they based entire campaigns on not boosting the borrowing limit.

“I ran on not raising the debt ceiling,” said Rep. Ted Yoho (R-Fla.). “We will not default. And I think it’s a lot of hype that gets spun in the media.”

If the dollar were suddenly to lose reserve status, the United States of America would face catastrophic inflation. All the dollars that the Federal Reserve has been creating, at about $85 billion each month, would begin to be dumped right on our heads, and the dollar would become virtually worthless.

More importantly, China has moved aggressively to replace the dollar with its Yuan in all its many, many international trades, including those in Saudi Arabia, Russia, South Korea, Australia, and many other traditional U.S. trading partners. China, with vigorous support from Russia and reluctant support from the other mega-economies in Asia, especially India and Japan, is using treaties which require acceptance of payments in their currency, the Yuan.

“To think that we are going to repeal Obamacare, which would have required 67 Republican votes, of course, was a false premise, and I think did the American people a great disservice by convincing them that somehow we could.”

The chamber voted mostly along party lines, 224–197, to create the “Bicameral Working Group on Deficit Reduction and Economic Growth.” The proposed 20-lawmaker panel would comprise 10 members from each chamber and would be tasked with recommending discretionary spending cuts, “changes in the statutory limit on public debt” and identifying other spending cuts.

Republicans want spending cuts and domestic entitlement program changes in return for a debt-ceiling increase. They say most modern presidents, including Obama twice, have negotiated over the borrowing limit.

This weekend, The New York Times revealed how the Koch Brothers and Reagan Attorney General Ed Meese engineered this here shutdown we’re dealing with right now, and how they’d been planning it ever since Obama was reelected.

The Dow slid nearly 160 points Tuesday, wiping out any gains it made in the past month.

Oh no… GMO?

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