Another Great Is Gone

It's been a rather tough month for the world of hockey. Ten days ago, we saw coaching great Pat Burns finally succumb to the cancer that has been plaguing his body for the last few years, and today we find out that sportswriter and NHL reporter Jim Kelley has lost his battle with pancreatic cancer at the age of 61. Kelley was a long-time newspaper reporter for the Buffalo News, and could recently...

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California School Employees’ Association (CSEA) Liars Prove "It's NOT About the Kids"

Anyone thinking clearly knows full well public unions are blatant liars when they request more money for schools under the pretense "It's for the kids".Well it's NOT for the kids and CSEA moves to the top of the list in proving it. If it was "all about the kids" we would not see articles like this one by Pete Peterson in The City Journal: No Volunteers, Please, We’re UnionizedPetaluma is one of those idyllic small cities (population 58,000) that dot Route 101 on the way north from the Golden Gate...

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Four Orange Lights Over Ohio County Indiana

Date: 1988Time: 9:00 – 10:00 p.m.Location of Sighting: Ohio County Indiana.Number of witnesses: 2Number of Objects: 4Shape of Objects:Parallelogram.Full Description of Event/Sighting: I saw these around 1988 in Ohio County on Hartford Ridge. Four parallelogramic orange lights in southwest sky. Vantage point changes quickly. I was in line with a Texas gas pumping station in Dillsboro, In. They said...

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"Portugal Insolvent" says Citigroup Chief Economist; Why Ireland Will Default

Citigroup's chief economist, just threw fat in the Euro-fire with his statement ‘Insolvent’ Portugal Needs Loans SoonPortugal is “insolvent” and will probably need soon to join the emergency-loan program from the European Union and the International Monetary Fund that’s available to Greece and Ireland, according to Willem Buiter, Citigroup Inc.’s chief economist.“The market’s attention is likely to turn to Portugal’s sovereign, which at current levels of interest rates and growth rates is less dramatically...

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Google to Offer Groupon $5-6 Billion; From Startup to Megabucks in 2 Years; "Grouponicus" Holiday Deals

It's not easy to to go from startup to $6 billion in two short years. That Groupon is about to do so is testimony as to just what can happen when a good idea goes viral.Certainly Groupon had the right idea in these cost-conscious times: super-deals on goods and services that people want.Groupon hooks up buyers with sellers at fantastic prices, but only if enough people sign up. Sellers determine how...

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Silver Eagle Bullion Sales Break Records

While collectors have recently focused on the collectible proof version of the coin, the American Silver Eagle bullion coins have been breaking records.The annual sales total for the one ounce silver bullion coins has now reached 32,790,500 based on the latest figures posted on the US Mint's website. With another month of sales left to go, this will beat the previous record sales of 28,766,500 reached...

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Effect of Housing and Trade with China on Durable Goods Shipments 1994 to October 2010

Inquiring minds may be interested in a chart of the dollar value of durable goods shipments 1994 to October 2010 in nominal and real (inflation-adjusted) terms.click on chart for sharper imageThe chart is courtesy of my friend Tim Wallace.The trends tell two distinct stories. In nominal terms note the housing boom-bust story. During the recession, shipments plunged all the way back to 1997 levels...

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thursday, december 2: double the fundraisers, double the fun

This week there are several events in support of Iraq War resisters in Canada. In Toronto, there are two on the same night!In the west end, Jon Brooks will be performing at Lula Lounge. Our long-time supporter Antonia Zerbisias will say a few words, if her broken wrist permits. And war resister Jeremy Hinzman will introduce and emcee. Admission is a suggested donation of $20: details here.In the east end, Mr. Rick and the Biscuits will perform at the "Support - Don't Deport" benefit jam, to benefit...

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vote on debate on afghanistan tonight: please make one more phone call

At 6:00 tonight, Parliament will vote on this motion submitted by the Bloc Québécois.That this House condemn the government’s decision to unilaterally prolong the Canadian mission in Afghanistan to 2014, thus reneging on two promises made to the population – in the House on May 10, 2006 and reiterated in the Throne Speech of 2007 – to submit any military deployment to a Parliamentary vote, and the promise made January 6, 2010 to make the Afghanistan mission strictly a civilian mission after 2011,...

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police complaint update: i was misled: withdrawn means withdrawn

You remember I had a brief but unpleasant run-in with a Toronto cop: here. I filed a complaint, and when I went in for the interview, I was told I had three options: informal resolution, withdrawal and formal complaint. The detective took great pains to explain to me - several times - that "withdrawal" didn't actually mean withdrawal, that it's an incorrect term for that option. She specifically told me - several times - that a withdrawn complaint is an "accountability mechanism", because the complaint...

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China Approves Gold Fund; India Inflation Hits 8.5%; Universal Dumping of Spain; Lobster Smuggling Hits Australia; Asia Slowdown led by Japan, Korea

International news is flying this evening. With most eyes focused on Ireland and the Euro, let's take a quick look at other news stories of merit.China Approves Gold Fund of FundsMarketWatch reports China Approves Gold Fund of FundsChina’s securities regulators have given the go ahead for a mutual fund to invest in foreign exchange-traded gold funds, potentially tapping interest among mainland China investors who face negative real interest rates on their bank deposits and want to hedge against...

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Critical Middle-Class Tax Cut Vote Coming Up: Will Democrats Divide and Conquer Strategy Work?

A critical vote on tax cuts and unemployment insurance benefits is coming up in the lame-duck session.The president wants middle-income tax cuts extended, but he wants tax cuts for those making over $250K to expire. The Republicans have generally said "all or nothing".Unless Congress acts, consulting firm Deloitte Tax LLP estimates the tax bill for a family earning $70,000 would rise by about $2,600. Moreover, tax rates on dividends and capital gains will go up, as will federal taxes on estates...

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Derailing the narrative

Well, at least the Liberal win in Winnipeg North should help to derail the developing narrative that Ignatieff is losing by-elections -- though some will still cling to ...

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Knowing The Code

I've never been an enforcer or a fighter in the NHL, but some say that the willingness to drop the gloves night-in and night-out is written into some players' genetic codes. It takes an incredible amount of courage and intestinal fortitude to lose the mitts and chuck knuckles at another guy while absorbing the rain of blows he is unleashing upon you. However, as you're aware, I fully endorse those...

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Corporate Bond Sales Collapse, Corporates on Pace for Worst Monthly Returns Since October 2008

Bernanke's QE II policy did nothing for jobs, nothing for bank lending, nothing for the real economy and had negative benefits for small businesses. However, the Fed did ignite a rally in the stock market and corporate bonds.That corporate bond story now shows signs of unraveling. Please consider Bond Sales Tumble as Ireland Crisis Spills OverCorporate bond issuance worldwide is tumbling on concern...

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MY THANKSGIVING DINNER: BOY WAS THAT GOOD: / WILLIAM SHATNER ON THE SECOND AMENDMENT:

This post contains two videos. To hear them properly, please mute the sound on the "Ave Maria" music widget located on the right hand side of this page.MY THANKSGIVING DINNER: BOY WAS THAT GOOD:It was a great feast, but we had to start the preparations the night before. Just one bad side, there were no left-overs. LOLWILLIAM SHATNER ON THE SECOND AMENDME...

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UPS, Dow, Northrop Grumman Borrow Money to Fund Pension Plans; Massive Lies at CalPERS to Hide Pension Losses

Thanks to Bernanke's efforts to push down interest rates by flooding the world with dollars, companies have gotten the not-so-brilliant idea to borrow money to fund their pension plans, hoping returns will exceed their borrowing costs.Please consider UPS Fights ‘Fire With Fire’ to Fill Pension GapCompanies facing the biggest pension deficit since at least 1994 are selling bonds at the fastest pace in more than seven years to plug the hole, betting that future returns will exceed their borrowing...

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Miracle of Survival and Falling Inflation Expectations

In Unthinking Economic Parrots and Deflation Fighting Madness I trashed unthinking writers who parrot the Fed's misguided beliefs about the importance of inflation expectations and why falling prices are bad.I specifically quoted one parrot who said "Deflation is particularly damaging to economic growth as consumers delay purchases until prices fall further."This was my rebuttal....The ineptitude of Japan's policies hoping to combat deflation is staggering. Worse yet, unthinking economic parrots...

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Vote of No Confidence

Inquiring minds might be interested to see the "Vote of No Confidence" by the market in response to the agreement that was supposed to "Save the Euro".The brief feeling of "Hooray We're Saved" lasted from approximately 1:00AM to 2:00AM depending of course on your time zone. Regardless of time zone, the rally was 1 hour long.No Confidence in Trichet, NoyerThe exit poll by market participants, shown...

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Terms of Enslavement; Irish Citizens Say "Default"; Agreement Violates EU and Irish Laws; 50 Ways to Leave the Euro

ANY Ireland bailout terms are onerous given that it is not Ireland that is bailed out but rather banks in the UK, Germany, US, and France (in that order).Moreover and unfortunately, the exact deal foolishly agreed to by Irish Prime Minister Brian Cowen is not only amazingly bad for Ireland, but one of the provisions violates EU and Irish law.Terms of EnslavementPlease consider these terms as outlined...

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