Tag: policy

Eighth-grader arrested for using $2 bill

9:58 am

The coming dark age: School officials had an eighth-grader arrested when she tried to pay for her lunch with a legal $2 bill.

“I went to the lunch line, and they said my $2 bill was fake,” Danesiah told the news station. “They gave it to the police. Then they sent me to the police office. A police officer said I could be in big trouble.” School officials called Daneisha’s grandmother, Sharon Kay Joseph, and asked, ” ‘Did you give Danesiah a $2 bill for lunch?’ He told me it was fake,” the grandmother recalled.

An investigation into the $2 bill led Fort Bend ISD police to a local convenience store that gave it to Ms. Joseph, ABC reported. Police were then led to a bank where the 1953-issued bill was examined and determined to be real.

Note that both the school officials and the police had no idea that there is such a thing as a $2 bill.

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Congressman proposes major changes to regulation of commercial space

9:46 am

Doug Messier has posted a detailed analysis of Congressman Jim Bridenstine’s (R-Oklahoma) proposed American Space Renaissance Act (ASRA) that is definitely worth reading.

Most of the changes appear aimed at organizing the regulation process of commercial space more completely under FAA control, rather than the hodge-podge of agencies that presently have responsibility. The bill also encourages NOAA and NASA to increase their use of commercial data for weather and Earth remote sensing.

At first glance, the bill looks good, but it also is not likely to be passed as written. Moreover, not surprisingly it calls for a hefty increase in funding for the FAA agencies being given more responsibilities, but I wonder if Congress will comparably reduce the funding of those agencies it takes responsibility from. My instinct tells me no, which means of course that the government and bureaucracy grows again.

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The Oil Seepage Thread

12:10 pm

Because the comment thread to this post, “New research confirms CO2 increase is greening Earth,” has become quite long and somewhat off the original topic, yet still interesting and worth continuing, I have decided to create a specific post where comments relating to these two questions, asked by Wayne DeVette, can continue:

  • How much does Volcanic activity contribute to particulate & “greenhouse gas” emission’s on the Planet ? (I am under the impression contributions by human-activity are dwarfed by natural-events.)
  • What is the natural (non human-activity related) background seepage rate of crude-oil, into the Worlds oceans, across the Planet?

I thought these were great questions, and ask Wayne and others to do some digging. Gary and Wayne did, and what they found is worth reading.

Please place future comments on this topic here.

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Why Russian aerospace will not compete

8:57 am

The fallout from the scrub and one day delay of the first launch at Vostochny, while Vladimir Putin was there and watching, has generated an investigation and the suspension of one designer.

The official goal of the commission was to find causes of the failed launch attempt and to check the completeness of tests leading to the incident.

However given a minor technical impact of the delay, the investigation likely had the primarily political nature, namely it was aimed to demonstrate to the Kremlin that the industry problems were being dealt with. Moreover, Rogozin also made a decision during the work of the commission to suspend the responsibilities of Leonid Shalimov, the designer general at NPO Avtomatika, which supplied the hardware allegedly responsible for the incident. Rogozin summoned Shalimov to Moscow on May 6, apparently to present the results of the investigation. [emphasis mine]

When you develop any new system or cutting edge technology, things are certain to go wrong. This is the one certainty that I will admit to and gladly embrace, and to which good designers, scientists, and engineers all agree. Vostochny is brand new. It stands barely finished. No launch had ever been attempted there before. For there to be a one day delay because of a minor engineering issue is hardly a sign of poor workmanship. Instead, it suggests the people who built it did a reasonably good job, even as many of their managers ripped them and the project off.

What we see here is an industry that is being run not by people who understand the business, but by distant politicians whose only interest is power and control. Can you imagine any manager in Roscosmos anywhere being willing to approve the start of a radical new engineering project, faced with pressure from Putin and these power-hungry politicians in Moscow? It won’t happen. Until there is a change and the politicians let go of their control of this industry, Roscosmos is going to take the safe route every single time.

Nothing new is going to come from Russia’s aerospace industry for a very long time.

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Russian court calls for arrest of Vostochny suspects

11:15 am

A Russian court has essentially done what we would call “denying bail” and demanded the arrest of two former Vostochny executives who have been charged with taking bribes during the construction phase of the spaceport.

The court ruled to arrest at least until June 20 the former chief of Spetsstroitekhnologii firm at the Federal Agency for Special Construction, Vladimir Shamailov, and his suspected accomplice Renat Syamiullin. The court agreed with the position in prosecution that staying out of prison the suspects could flee investigation as well as try to destroy the evidence. It is expected that today’s court ruling will be challenged.

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First launch from Vostochny a success

10:47 pm

The competition heats up: After more than a decade of construction and more than $6 billion, the new Russian spaceport succeeded in its first rocket launch in the early morning hours of April 28, sending three satellites into Earth orbit.

Several news stories have said that Putin was not happy about the one day launch delay due to a computer issue, as well as the one day delay of a Soyuz launch in French Guiana earlier in the week.

Meanwhile, don’t expect any further launches at Vostochny for a long time. The spaceport really isn’t ready for regular operations. This launch was merely a face-saving gesture to disguise the fact that construction is really more than a year behind schedule, not three months.

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First Vostochny launch scrubbed at T-1.5

9:15 am

The first launch at Russia’s new Vostochny spaceport yesterday was aborted by its computers at T-1.5 minutes.

The head of Russia’s Roscosmos, Igor Komarov, said the launch was halted automatically due to the glitches of the automated control system. He said the system may be restored in a day. “As usual, the responsibility for what is happening in the space sector rests with those people who are in charge of it and head it,” Komarov added.

I love how governments and their minions always use the word “glitch” when the really haven’t the slightest idea what went wrong.

Regardless, based on their plans to try again tomorrow, I suspect that the problem was relatively simple, related to the computer sensing some parameter that was outside expected tolerances, and easily fixed.

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Fascists try to shut down conservative panel at the University of Massachusetts, Amherst

10:35 pm

At a conservative panel at the University of Massachusetts, Amherst, on Monday, protesters once again screamed and heckled the speakers, trying to silence them.

This was another event in the Milo Yiannopoulos speaking tour that saw the same kind of treatment on Saturday at American University. This time, Yiannopoulos was not alone, joined by Christina Hoff Sommers and Steven Crowder, who when he got the mike proceeded to give an epic 4 minute long put-down of the protesters, to loud applause from the audience. You can see some video of the event at the link above, but I have embedded Crowder’s rant below the fold, as it is absolutely worth seeing. He demonstrates the right way to treat these people, by standing up to them boldly, with humor, and courage.
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Congress micro-manages rocket engineering again

9:56 am

In an effort to funnel money to Aerojet Rocketdyne at the cost of every other rocket company in the nation, the House Armed Services Committee has written a bill that tells the Air Force exactly how it will build its future rockets.

“The Committee shares the concern of many members that reliance on Russian-designed rocket engines is no longer acceptable,” the committee said April 25. “The Chairman’s Proposal, as recommended by Chairman Rogers of the Subcommittee on Strategic Forces, denies the Air Force’s request to pursue the development, at taxpayer expense, of new commercial launch systems. It instead focuses on the development of a new American engine to replace the Russian RD-180 by 2019 to protect assured access to space and to end reliance on Russian engines. The Mark also holds the Air Force accountable for its awards of rocket propulsion contracts that violated the FY15 and FY16 NDAAs.”

…“The funds would not be authorized to be obligated or expended to develop or procure a launch vehicle, an upper stage, a strap-on motor, or related infrastructure,” says a draft of the 2017 defense authorization bill.

As presently written, the bill would leave the Air Force only one option: use engines built by Aerojet Rocketdyne.

If anything demonstrates the corruption or foolishness of our elected officials, it is this proposal. Not only are they telling the Air Force how to design rockets, they are limiting the options so much that they are guaranteeing that it will either cost us more than we can afford, or it won’t be doable at all. As I say, either they are corrupt (working to benefit Aerojet Rocketdyne in exchange for money), or they are foolish, (preventing the Air Force from exploring as many inexpensive future options as possible).

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Soyuz rocket launch scrubbed due to faulty IMU

8:51 am

Uh-oh: A Soyuz rocket launch from French Guiana was scrubbed an hour before launch on Sunday because of detected problems with the inertial measurement unit (IMU) in its navigational system.

Arianespace chief executive Stephane Israel tweeted Sunday that the faulty inertial measurement unit, or IMU, will be replaced overnight in time for a launch attempt Monday. The IMU is located on the Soyuz rocket’s third stage and is used to determine the heading and orientation of the vehicle in the first nine minutes of its mission, feeding critical attitude data to the launcher’s guidance computers, which transmit steering commands to the engines.

The venerable Soyuz booster flies more often than any other launcher in the world, and delays due to technical causes are rare. [emphasis mine]

This is not good news for Russia’s aerospace industry, as it suggests that the quality control problems Russia has experienced with the company that manufactures its Proton rocket are now beginning to appear with the different company that manufactures the Soyuz rocket.

If true, this is also very bad news for American astronauts, who must use this rocket to get to and from space.

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The failed predictions of Earth Day

5:47 pm

On this anniversary of the first Earth Day in 1970, it behooves us to once again review the predictions of the environmental experts that even today the environmental movement relies on and continues to worship, men like Paul Ehrlich and David Brower, the first executive director of The Sierra Club.

The Daily Caller today provided us a list of the seven most significant predictions from that day, all of which turned out to be wrong. For example, Ehrlich repeatedly predicted that millions would starve in the coming decades:

Stanford professor Dr. Paul Ehrlich declared in April 1970 that mass starvation was imminent. His dire predictions failed to materialize as the number of people living in poverty has significantly declined and the amount of food per person has steadily increased, despite population growth. The world’s Gross Domestic Product per person has immeasurably grown despite increases in population.

Ehrlich is largely responsible for this view, having co-published “The Population Bomb” with The Sierra Club in 1968. The book made a number of claims including that millions of humans would starve to death in the 1970s and 1980s, mass famines would sweep England leading to the country’s demise, and that ecological destruction would devastate the planet causing the collapse of civilization.

Brower meanwhile revealed the tyrannical aspect of the environmental movement, stating that “[a]ll potential parents [should be] required to use contraceptive chemicals, the government issuing antidotes to citizens chosen for childbearing.” He went on to found Friends of the Earth and the League of Conservation Voters.

Ehrlich continues to push the same predictions, even though none of his past predictions have come true. But, then, what does that matter? Why should reality have anything to do with anything? It’s that he cares that matters!

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More evidence you can’t trust anything Donald Trump says

10:57 am

Just go to this link and read it. Trump has increasingly reminded me of Clinton in everything he has said and done in the past few weeks, with only one problem. Clinton has more style and a greater understanding of policy, even if I disagreed with him and considered him a liar in almost everything he said.

More and more I am convinced that this prediction of Trump’s administration will turn out to be exactly right.

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Obamacare bankrupting state governments

9:53 am

Finding out what’s in it: States that agreed to Obamacare’s Medicaid expansion are now discovering that it is bankrupting them.

[T] he budget scuffle [in Arkansas over the expansion] has highlighted the harsh fiscal reality emerging in the Obamacare Medicaid-expansion program — and these lawmakers will have to own it. Beginning next year, Arkansas is obligated to share 5 percent of the program’s cost. Doing this would account for a whopping 60 percent of the year-over-year growth in the state’s budget. With a 10 percent state match on the horizon — coupled with the program’s over-enrollment, cost overruns, and waste, fraud, and abuse — Medicaid expansion will devour Arkansas’s budget over the next ten years.

The budget picture is similarly bleak in other states that took the plunge. Only 18 months into Ohio’s expansion, the state’s total Medicaid costs nearly doubled, to $4.05 billion. By next year, Buckeye taxpayers will be on the hook for over $130 million to meet the 5 percent state match, more than double the projected $55.5 million.

The worst part of this story however is that voters in Arkansas clearly indicated in elections that they wanted the expansion to end. Despite this, the governor (a Republican) and elected officials are still maneuvering to maintain the expansion. Like Congress after 2010 and 2014, landslide victories by conservatives seem to have no meaning to these people.

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Shelby blocks Export-Import Bank nominee

9:38 am

In a move that is preventing the recently renewed Export-Import Bank from functioning, Senator Richard Shelby (R-Alabama) has been blocking the nomination of a new board member.

Until the board position is filled, the bank cannot finance any deals greater than $10 million, which essentially prevents it from doing much.

I find this story quite surprising. It says that Shelby has opposed the Ex-Im Bank because he considers it the worse form of “crony capitalism”. Yet, Shelby is also the king of aerospace pork, pushing NASA to fund SLS (thus pouring money into Alabama and the Marshall Spaceflight Center), despite the fact that SLS is a gigantic boondoggle that will never accomplish anything in space.

I suspect that Shelby’s real goals are twofold: 1. He doesn’t like the deals the bank has been financing, and wants to apply pressure on them to instead give deals to his own corporate buddies. 2. He is trying to extort campaign contributions from the parties involved.

Sadly, I can’t believe for an instant that Shelby has altruistic motives.

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San Francisco requires new buildings have solar panels

9:10 am

Another reason to leave California: San Francisco’s Board of Supervisors has unanimously passed a local law that will require all new buildings, both commercial and residential, that are lower than 10 stories tall to install solar panels on their roofs.

San Francisco’s new regulations add to already existing Californian laws which require 15 percent of rooftops on buildings of 10 stories or less to be unshaded and solar ready. Under the new law, buildings must have either solar photovoltaic or solar water panels installed, or a mix of the two.

As part of a concerted effort to one day run the city entirely on renewables, the mayor set up a taskforce in 2011 to develop policies and programs that steer it in this direction. It hopes to achieve this goal by 2025.

1. This will add a significant cost to the construction of new buildings, guaranteeing that there will be a decline in construction of such buildings in San Francisco.

2. I am certain that the task force that the mayor set up in 2011 was dominated by individuals in the solar power industry, all of whom are going to benefit greatly by this new law. I would also not be surprised if I learned that they donated money to the mayor’s campaign fund.

3. This law, as well as the city’s plan to run itself entirely on renewables by 2025, are pure fantasies based on ideology that no law can dictate. They must evolve, based on the realities of economics and technological discovery. That San Francisco’s political leadership can’t understand this fundamental fact of life indicates that this city is going to bankrupt itself in the near future, especially since its population overwhelming agrees with the fantasies of their political leaders. Expect more stupid laws like this, and except the situation there to become increasingly oppressive as these ideologues increasingly impose their unworkable fantasies on everyone.

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“You have no right to speak.”

6:35 pm

The quote in the headline gives only a taste of the thuggery, bigotry, and hate expressed by the protesters at the University of Missouri last fall against whites and anyone who dared disagree with them. Go here to get the full flavor, which includes women being harassed and threatened merely because she happened to be white, protesters threatening to kill whites because they weren’t immediately getting what they wanted, and of course, at least one teacher, Melissa Click, threatening a student journalist with violence for reporting on the protests.

I am still only giving you a taste. The worst part of the story is that the fascists on all of today’s campuses were very well represented by the thugs who took over the University of Missouri last year. It isn’t any different elsewhere. Don’t dare express dissent to the left wing orthodoxy, or you might find yourself the target of violence and hate.

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Senate committee throws money at NASA

9:13 am

The Senate appropriations subcommittee has announced its proposed 2017 budget for NASA, including significant budget increases for SLS and Orion.

SLS is the big winner in the bill, according to a summary of its contents provided by the committee. The heavy-lift launch vehicle would get $2.15 billion, $150 million more than it received in 2016 and $840 million above the administration’s request. The SLS funding includes $300 million directed for work on the Exploration Upper Stage with the goal of having it ready as soon as 2021, the earliest planned date for the first crewed SLS/Orion mission.

The bill also provides $1.3 billion for Orion, $30 million above 2016 and $180 million above the administration’s request. It also directs Orion to be ready for its first crewed mission in 2021.

The bill provides $5.4 billion for science programs overall, $200 million below the request. The summary does not break out spending among the various science mission directorates. Commercial crew would get $1.18 billion, the amount requested by NASA, and space technology would get $687 million, the same as 2016 but $140 million less than requested.

Meanwhile, in order to keep NASA’s overall budget about the same as last year the subcommittee, led by porkmeister Richard Shelby (R-Alabama), apparently trimmed the agency’s science budget.

The full plan will be revealed tomorrow. Moreover, the House still has to make its budget proposal, and then the House and Senate have to agree. Regardless, this Senate budget proposal is more indication that this Republican Congress is going to throw endless gobs of money at SLS and Orion, so the boondoggle can fly once, maybe twice, and then get mothballed. What a waste.

It also tells us how insincere many Republican elected officials are when they claim they are for fiscal responsibility.

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UnitedHealth abandoning Obamacare

9:01 am

Finding out what’s in it: Because of significant loses due to Obamacare, the nation’s largest health insurance company, UnitedHealth, will cut participation in all but a handful of public health exchanges next year

CEO Stephen Hemsley said Tuesday that the company expects losses from its exchange business to total more than $1 billion for this year and last. He added that the company cannot continue to broadly serve the market created by the Affordable Care Act’s coverage expansion due partly to the higher risk that comes with its customers. The state-based exchanges are a key element behind the Affordable Care Act’s push to expand insurance coverage. But insurers have struggled with higher than expected claims from that business.

UnitedHealth Group Inc. said it now expects to lose $650 million this year on its exchange business, up from its previous projection for $525 million. The insurer lost $475 million in 2015, a spokesman said. UnitedHealth has already decided to pull out of Arkansas, Georgia and Michigan in 2017, and Hemsley told analysts during a Tuesday morning conference call that his company will not carry financial exposure from the exchanges into 2017.

And why have they been losing so much money? It seems that only sick people are signing up, resulting in expensive claims that the insurance companies cannot afford to pay because they have too-few healthy customers buying their insurance. And why do they have too few healthy customers? They can’t avoid the higher prices for insurance that Obamacare has forced upon them.

This monstrous law, which the American public never wanted, should never have been passed. The sooner it can be repealed, the better for everyone.

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The commerical battle over U.S. surplus ICBM’s

8:48 am

Link here. The article provides a good summary of the conflict between Orbital ATK and Virgin Galactic over the Defense Department’s possible sale of surplus ICBM’s for commercial use.

While Orbital has been lobbying to get Congress to lift the ban on the Pentagon selling its surplus rockets to the private sector, Virgin Galactic has been harnessing the industry lobbying arm to convince Congress to keep the ban. They fear that if the missiles become available, their as yet unflown LauncherOne will not be able to compete.

I find it very revealing that Virgin Galactic wants to use regulation to hinder their competitors. To me, this is another sign that they are not very competitive or competent in actual rocket building. Rather than build and launch their rocket at a competitive price, they want to stifle an opportunity to lower launch costs.

A hearing on this issue is taking place today. Stay tuned.

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Pakistan pulls out of India satellite project

8:32 am

This op-ed provides a revealing outline of how the political tensions in Islamic Pakistan have damaged efforts by India to work together on a satellite project.

In 2014, Prime Minister Narendra Modi had announced India’s decision to develop (and gift) a satellite to benefit all SAARC member countries [South Asian Association for Regional Cooperation] in different fields like weather data exchanges, disaster management, telecommunication and tele-medicine. The work on this satellite has already begun at the Indian Space research Organisation (ISRO), and the satellite is expected to be launched by the end of 2016. After remaining indecisive about this project for long, Pakistan has finally decided to opt out of the SAARC satellite project. Now, India would launch this satellite not as a satellite for SAARC, but as a South Asia satellite.

Pakistan’s decision may not be totally surprising given the current chill in the India-Pakistan relationship. The initial discussions on this project were progressing in a constructive fashion with Pakistan. However, Pakistan subsequently made a technical and financial help offer to India for the construction of the satellite. This was not accepted by India, which could be one of the main reasons for Pakistan opting out of this project. Obviously, Pakistan has missed an opportunity to develop ‘orbital cooperation’ with India in spite of having ‘terrestrial confrontation’.

The article, describing other cooperative efforts by India, including working with Russia and China to link the GPS systems of the three countries. once again indicates to me that India as a country is successfully becoming a first world nation.

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More Obamacare exchanges expected to fail

4:30 pm

Finding out what’s in it: Eight of the remaining eleven Obamacare co-op exchanges are expected to default or go out of business before the end of the year, according to a new analysis.

Data compiled by TheDCNF based on the co-op 2015 annual reports suggest eight are likely to default and only four of them will be in business by year’s end. The co-op documents obtained by TheDCNF were annual reports filed before state insurance regulators. The reports must accurately depict the financial health of the co-ops and are current through the end of calendar year 2015. The annual reports became available to the public in mid-March.

More than half of the original 23 co-ops have already gone out of business, leaving hospitals and doctors with millions of dollars of unpaid bills.

Obviously, we must elect Clinton or Sanders, because they want to use the government to do more1

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The Orion fantasy

10:21 am

There is a commercial space conference going on in Colorado this week, which explains the plethora of breaking stories from the new commercial space companies both yesterday and today.

Two stories today from Aviation Week, however, are more about the old big space industry and the old way of doing things, and both reveal the hollow nature of that entire effort.

Both stories are about work Lockheed Martin is doing in connection with its Orion capsule, and both try to convince us that this capsule is going to be the central vehicle for the first missions to Mars.

Function starts in the bones of the spacecraft,” [Mike Hawes, Lockheed Martin vice president and Orion program manager,] said in an April 12 interview at the 32nd annual Space Symposium here. “To be a deep space spacecraft, you have to build differently than you would if your requirements were to stay in low Earth orbit and be quiescent at the International Space Station for a few months. That’s driven Orion from the beginning. Any architecture you look at needs a crew capability, a long-term design requirement. So, you can debate a lot of different missions, but you need that fundamental capacity we have invested in Orion.”

I say balderdash. Orion is an over-priced and over-engineered ascent/descent capsule for getting humans in and out of Earth orbit. Spending billions so it can also go to Mars makes no sense, because its heat shield and other capsule technologies for getting through the Earth’s atmosphere are completely useless in interplanetary travel. Moreover, such a small capsule is completely insufficient for a long Mars mission, even if you test it for a “1,000 day” missions, as Hawes also says in the first article. To send a crew to Mars, you need a big vessel, similar to Skylab, Mir, ISS, or Bigelow’s B330 modules. A mere capsule like Orion just can’t do it.

Eventually, it is my hope that Congress will recognize this reality, and stop funding big space projects like SLS and Orion, and instead put its money behind the competitive private efforts to make money in space. Rather than trying to build its own capsules, space stations, rockets, and interplanetary vessels (something that NASA has repeatedly tried to do without any success), NASA should merely be a customer, buying the capsules, space stations, and interplanetary vessels that private companies have built, on their own, to make money, on their own.

Consider for example Bigelow’s B330. Each module is about as big as Skylab or Mir, and costs mere pennies to build and launch, compared to those government-designed stations. Moreover, Bigelow can build it fast, and repeatedly. Similarly, Orion has cost billions (about $16 billion when it makes its first manned mission in 2021 at the earliest) and will have taken 15 years to build. SpaceX built Dragon in seven years, Orbital ATK built Cygnus in five years, and Boeing is going to build Starliner in about four years, all for about $10 billion, total.

The contrast is striking, and though ordinary people with the ability to add 2 plus 2 can see it, it takes Congressman a little longer (as they need to use their fingers to count). Sooner or later they will get it, and Orion and SLS will disappear. Bet on it.

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Russian assets in France seized

8:59 am

Russia’s refusal to pay damages in a court case has forced France to seize $700 million owed to Russia’s aerospace industry.

In total, France has seized Russian assets worth $1 billion following the Kremlin’s refusal to pay damages to former Yukos shareholders.

In July 2014, The Hague international arbitration court ruled that Russia must pay $50 billion for expropriating the assets of Yukos. The seized assets include $400 million owed by French-based satellite provider Eutelsat to the Russian Satellite Communications company and $300 million owned by French space launch provider Arianespace to Russia’s Roscosmos space agency, the magazine reported, citing the Shearman & Sterling legal firm which represents the Yukos shareholders.

This story is similar to the Sea Launch court suit by Boeing, whom the Russians owe $300 million. In that case Boeing has moved to block Russia from selling Sea Launch.

Both stories suggest that the Russians are in big financial trouble, partly caused by a lack of understanding of capitalism. In both cases, they formed partnerships with western businesses and failed to realize that those partnerships placed financial obligations upon them. From its Soviet days Russia probably thought they could ignore those obligations if it became inconvenient, and they are now discovering that this is not really possible if they wish to sell their goods to the rest of the world.

I expect Russia’s space industry to increasingly become isolated from the rest of the world market, partly because of these events.

In related news, Roscosmos has revealed that after the initial launch at Vostochny in April, the second launch will not occur until 2017. This indicates that the first launch is merely a face-saving effort to hide the fact that construction is really more than a year behind schedule, not three months.

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Delusional banking

9:39 am

Time to consider holding more of your money in cash: The International Monetary Fund said on Sunday that it now supports the idea of imposing negative interest rates on depositor money at some central banks.

In other words, steal the money, placed originally in the banks for safety from theft.

The following quote from the article, however, reveals how truly hopeless the situation really is:

Critics argue that the move to negative rates, especially in Japan where the central bank has failed to ignite growth or shift inflation upwards, are a sign of desperation. What is needed they say is additional government spending instead of more loose monetary policy. In addition, they charge that the move may damage the economy by inflating financial market asset bubbles and squeezing bank profit margins. [emphasis mine]

The idea that more government spending will solve the problem of too much government spending, which is why these central banks are in debt and need to steal the money of the depositors in order to become solvent again, is absurd. That the world’s economic experts can see no other solution, like maybe getting government spending under control so that reasonable taxes can pay the bills, tells us that no reasonable solution will be tried, and that eventually everything is going to crash badly.

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Serious security flaws found in Obamacare websites in three states

9:58 am

Finding out what’s in it: Federal investigators have found significant security problems with the Obamacare health insurance websites in the states of California, Kentucky, and Vermont.

The GAO report examined the three states’ systems from October 2013 to March 2015 and released an abbreviated, public version of its findings last month without identifying the states. On Thursday, the GAO revealed the states’ names in response to a Freedom of Information request from the AP.

According to the GAO, one state did not encrypt passwords, potentially making it easy for hackers to gain access to individual accounts. One state did not properly use a filter to block hostile attempts to visit the website. And one state did not use the proper encryption on its servers, making it easier for hackers to get in. The report did not say which state had what problem.

According to the story, it appears that nothing has been done in two of the three states to fix the problem. Worse, the study suggests similar problems exist at other state websites.

Hey, let’s solve the problem by voting for Clinton or Sanders! Both say the solution is to give the governments that screwed up here more power, money, and control. What could go wrong?

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