Ron Paul on Freedom Watch 08/15/11

RonPaulFriends on Aug 15, 2011

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Attacks Signal New Danger to Israel Along Egyptian Border

Rockets, airstrikes follow Palestinian attack on Israel

 

CNS News

Friday, August 19, 2011
By MATTI FRIEDMAN, Associated Press

Israeli soldiers secure roads near the site of several attacks in the Arava desert, near the southern Israeli resort town of Eilat, on Friday, Aug. 19, 2011. On Thursday, gunmen who appear to have originated in Gaza and who crossed into southern Israel through the Egyptian desert ambushed civilian vehicles traveling on a remote road in southern Israel, killing 6 civilians and 2 security officials. (AP Photo/Dan Balilty)

JERUSALEM (AP) - Gaza militants launched barrages of rockets deep into Israel early Friday and Israeli aircraft struck targets in the Palestinian territory in the aftermath of the deadliest attack against Israelis in three years.

On Thursday, gunmen who appear to have originated in Gaza and who crossed into southern Israel through the Egyptian desert ambushed civilian vehicles traveling on a remote road in southern Israel, killing eight people. Six were civilians, and two were members of Israeli security forces responding to the incursion.

The attack signaled a new danger for Israel from its border with the Sinai Peninsula, long quiet under the rule of Egyptian leader Hosni Mubarak. Mubarak was deposed in February and the desert of the Sinai Peninsula -- always restive and largely controlled by Bedouin tribes -- has become increasingly lawless.

Israel responded hours after the attack with an airstrike that killed five members of the Palestinian group that Israel said was behind it, an organization known as the Popular Resistance Committees. The dead included the group's leader.

A spokesman for the group, Abu Mujahid, would not confirm or deny responsibility for the attack inside Israel, but said militants would avenge the killing of the men in Gaza.

Hamas denied any connection with the attacks, but hurriedly evacuated all of its security facilities Thursday in anticipation of more Israeli retaliation. Those strikes continued through the night, targeting what the military said were smuggling tunnels and sites used by gunmen.

Hamas officials said two children, 3 and 13, were killed in the Israeli strikes.
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Ron Paul: Perry Makes Me Look Moderate

News Max.com
August 19, 2011


Federal Reserve critic Ron Paul has hit out at fellow Republican presidential candidate Rick Perry, saying the Texas governor’s views make him “look like a moderate.”

“I have never once said [Ben] Bernanke has committed treason,” Paul said, referring to comments that Perry made about the Fed chairman.

Perry said on Tuesday that it would be “almost treacherous or treasonous,” if the Fed under Bernanke increased the money supply before next year’s election.

Paul's response: “He realizes that talking about the Fed is good, too. But I tell you what: He makes me look like a moderate."

The sniping between the two Texans threatens to take center stage in the Republican battle for the White House now that the bickering between two Minnesotan candidates, Rep. Michele Bachmann and former Gov. Tim Pawlenty, is over. Their war of words ended in victory for Bachmann when Pawlenty dropped out of the race on Sunday.

Paul has already complained that the media is focusing too much on Perry and not enough on his campaign even though he finished a close second to Bachmann in Saturday’s Iowa Straw Poll.

“What are they afraid of?” he asked on Fox News today. “We’re certainly in the top tier, we showed we did well in Iowa and we have a good organization, we can raise money.”

Actually, Paul has distinguished himself among Republicans in recent years by calling for elimination of the Federal Reserve. But now, Perry and another GOP presidential candidate, Minnesota Rep. Michele Bachmann, are in that camp.

How does Paul view other Republicans jumping on the anti-Fed bandwagon?

“He kind of looks at it as, it’s good to see other candidates finally catching up by at least paying lip service to some of this,” Paul spokesman Gary Howard said. “Unfortunately, we’re looking at people’s records, and they don’t have much of a record in dealing with this issue.”


Tea party and establishment Republicans alike are lighting into the Fed.


“Americans have come to have an unhealthy distrust of all government institutions, including the Federal Reserve, and politicians like Perry and Paul are tapping into it,” Mark McKinnon, a veteran GOP consultant, told The Hill. “I think for Paul it is a policy issue and for Perry it is a political issue.”


Meanwhile, Paul made light of Perry’s comments in a New Hampshire campaign event Wednesday with this quip: "Now they have this other governor, I can't remember his name.


"He realizes that talking about the Fed is good, too. But he makes me sound like a moderate. I have never once said Bernanke has committed treason. But I have suggested very strongly that the Federal Reserve system and all the members have been counterfeiters for a long time."

Wall Street firms donated $11.2 million to members of debt ‘super committee’

The Raw Story

By Eric W. Dolan
Thursday, August 18th, 2011

 

The bipartisan "super committee" created by the debt ceiling deal is comprised of lawmakers who have received big bucks from special interest groups, according to a report by MapLight.

The committee is tasked with finding at least $1.2 trillion in deficit cuts over ten years.
In total, the twelve members appointed to the Joint Select Committee on Deficit Reduction got nearly $64.5 million from special interests groups over the past decade, with legal firms donating about $31.5 million and Wall Street firms donating about $11.2 million.

Of that $11.2 million, Goldman Sachs, Citigroup, Bank of America and JPMorgan Chase donated approximately $2 million combined.

The members appointed to the committee are Sens. Pat Toomey (R-PA), Jon Kyl (R-AZ), Rob Portman (R-OH), Patty Murray (D-WA), John Kerry (D-MA), and Max Baucus (D-MT) and Reps. Jeb Hensarling (R-TX), Fred Upton (R-MI), Dave Camp (R-MI), Chris Van Hollen (D-MD), Xavier Becerra (D-CA), and Jim Clyburn (D-SC).

Democratic and liberal groups donated the third most amount of money, with about $9.6 million in political contributions, and the health industry donated the fourth most, with about $9.3 million.

Club for Growth, a conservative free market group, donated more money than any other organization, contributing a combined $990,066 to the twelve lawmakers. The vast majority of that money went to Sen. Toomey.
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Middle class annihilation one penny at a time – 64 percent of Americans do not have adequate savings for an unexpected $1,000 expense. The crushing blow to income and household wealth.

MyBudget360.com
August 18, 2011

The American middle class is furious and this is reflected in how people perceive their failed government but also a financial system that has largely profited from the failures of millions.  A recent Gallup poll shows that only 13 percent of Americans actually approve of Congress and the way they are handling their job. 

This is a record low.  Of course the financial system for those too big to fail banks is doing just fine thanks to years of accommodative policy, taxpayer bailouts, and politicians that basically collect payroll checks from the HR department of these large financial institutions.  As we have noted and the media fails to report, the average per capita income in the United States is $25,000.  What is even more disturbing is that a recent poll found that 64 percent of Americans would not be able to shoulder even an unexpected expense of $1,000.

If a transmission on a car goes down or additional medical expenses hit, it will cost well over $1,000.  This is simply another reflection of how the crushing collapse of the middle class will not be televised.


$1,000 enough to crush many Americans

Source:  National Foundation for Credit Counseling

The fact that $1,000 of unexpected expenses would leave many Americans gasping for financial help is troubling enough but the even more disturbing methods of how families would deal with issues that go to the debt addicted psychology of the nation.  9 percent said they would take out a loan (assuming they could) to deal with the expense.  17 percent would borrow from friends or family. 

Presumably these family members fall in the 36 percent category that actually have savings to deal adequately with a $1,000 unexpected expense.  Another 9 percent would take out a cash advance on their credit card which is one of the worst things you could possibly do.  12 percent would sell or pawn current assets assuming it had value enough to cover $1,000.  If that isn’t troubling enough, 17 percent would flat out disregard other monthly expenses.  Welcome to new reality for the working and middle class in our nation.
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....More people sought unemployment benefits

Yahoo News

August 18, 2011

WASHINGTON (AP) — The number of people applying for unemployment benefits rose back above 400,000 last week. Still, the four-week average, a more reliable gauge of the job market, fell to the lowest level since mid-April.

The report suggests that the economy is creating jobs but not nearly enough to lower the high unemployment rate.

Weekly applications rose 9,000 to a seasonally adjusted 408,000, the Labor Department said Thursday. That's the highest level in four weeks. Applications have been above 400,000 for 18 of the past 19 weeks.

The four-week average dropped for the seventh straight week to 402,500.

Still, applications typically must fall below 375,000 to signal healthy job growth. The last time they were that low was in late February.

Two weeks ago, applications dropped to 399,000. That was the first time they had fallen below 400,000 since early April.

Separately, the Labor Department said consumers paid more for gas, food and clothes last month, pushing prices up by the most since the spring.

The Consumer Price Index rose 0.5 percent in July, following a drop of 0.2 percent in June. Gas prices accounted for much of the swing. The core index, which excludes volatile food and energy, rose 0.2 percent.

The report on weekly unemployment applications does provide some positive signs for hiring in August. Applications are lower than they were in mid-July, when they totaled 422,000.

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8/17/2011 - Peter Schiff On FXBIZ - The Worst Is Yet To Come For The Markets & Economy

 Aug 17, 2011