ICT magazine

As I pointed out in 2007:The 9/11 Commission Report was largely based on a third-hand account of what tortured detainees said, with two of the three parties in the communication being government employees.The official 9/11 Commission Report states:Chap...

The American dream has always been that even those with humble roots can end up wealthy.The American dream is what has motivated generations of Americans - natives and immigrants alike - to work hard and play by the rules.And as Michael Moore wrote in ...

FBI whistleblower Colleen Rowley was interviewed by Scott Horton, professor at Columbia Law School and Contributing Editor of Harper’s Magazine. Rowley said that in her testimony to the Joint Intelligence Committee regarding 9/11, she was “minded�...

I recently provided evidence that banks create credit out of thin air.I've just found two more pieces of evidence:(1) William C. Dudley, President and Chief Executive Officer of the Federal Reserve Bank of New York, said in a speech last July:Based on...

Greg Mankiw noted in January 2009:Econ prof Bill Seyfried of Rollins College emails me:Here's an interesting fact that you may not have seen yet. The M1 money multiplier just slipped below 1. So each $1 increase in reserves (monetary base) results in t...

In a bizarre, Soviet-style move, the White House has threatened to veto the intelligence budget unless everyone accepts the FBI frame up of Dr. Bruce Ivins.As Bloomberg writes: President Barack Obama probably would veto legislation authorizing the next...

Instead of going into a lengthy analysis about the pros and cons of Chris Dodd's financial reform bill, I'll let the Senator speak for himself:This legislation will not stop the next crisis from coming. No legislation can...What Dodd is really saying i...

Today, Moody's is again hinting about sovereign credit downgrades for the U.S. and UK..As Bloomberg writes:The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, accordin...

Neuroscientists have known for many years that the neurotransmitter dopamine plays a major role in drug addiction.More recently, scientists have discovered that dopamine also plays a big part in basic risk-taking behavior.For example, Time wrote in 200...

Upton Sinclair said:It is difficult to get a man to understand something, when his salary depends upon his not understanding it.Bestselling financial writer Michael Lewis is now saying the same thing. In an interview with 60 Minutes, Lewis said:Wall St...

This is an open letter to the economics, finance and banking communities. I don't have any dog in the fight, other than to figure out and then publicize what is best for the greatest number of people. People I greatly respect advocate for federal-leve...

As I pointed out in November:A report by University of California, Berkeley economics professor Emmanuel Saez concludes that income inequality in the United States is at an all-time high, surpassing even levels seen during the Great Depression.The repo...

Harry Dent just released a short 5-minute video update, saying that the technical indicators show that the rally will continue to mid-April at the earliest, to late May at the latest:

As I wrote last August:Commonly-accepted wisdom says that we can inflate our way out of our debt crisis.***But as I have previously noted, UBS economist Paul Donovan has demonstrated that governments can't inflate their way out of debt traps, saying:Th...

As William K. Black said a year ago, the government's entire strategy now - as in the S&L crisis - is to cover up how bad things are ("the entire strategy is to keep people from getting the facts").Paul Krugman and others pointed out that Geithne...

The FBI says that the anthrax case is closed, and that they have proved that Dr. Bruce Ivins did it.But Congress is not convinced.On March 3, 2010, Representative Holt called for a new investigation:Last week, [Congressman Holt] succeeded in including ...

82% of the American public wants tougher regulation of Wall Street.Most top independent financial experts say that we need to break up the big banks and otherwise rein in the financial giants in order to save the economy.But Summers, Geithner, Bernanke...

Unemployment rates worsened in 30 states in January:In other words, unemployment increased in the majority of states.However, CNN is seeing the glass as half full, noting in a report entitled "State unemployment picture brightens":A total of 30 states ...

Congress voted down a resolution to pull out of Afghanistan today."Conventional wisdom" among many Americans - and congress members - is that we need to be in Afghanistan to protect our national security.Is it true?A Little HistoryBefore we discuss whe...

There are at least 6 theories about why the stock market has rallied some 70% off its lows a year ago, even though nothing has been done to actually address the root causes of the financial crisis.What The Dumb Money BelievesThe dumb money believes wha...