The Big Picture |
- Trends in the Distribution of Household Income Between 1979 and 2007
- How Many Constitutional Rights Have Americans Lost?
- Better Than Expected US Economic Data
- 10 Sunday AM Reads
- The Knight That Rules the Night
| Trends in the Distribution of Household Income Between 1979 and 2007 Posted: 06 Jan 2014 02:00 AM PST |
| How Many Constitutional Rights Have Americans Lost? Posted: 05 Jan 2014 10:30 PM PST
How Many Constitutional Freedoms Have We Lost?This post explains the liberties guaranteed in the Bill of Rights – the first 10 amendments to the United States Constitution – and provides a scorecard on the extent of the loss of each right. (This is an updated version of an essay we wrote in February. Since then, it has become apparent that the few rights we thought we had left are largely illusory.) First AmendmentThe 1st Amendment protects speech, religion, assembly and the press:
The Supreme Court has also interpreted the First Amendment as protecting freedom of association. However, the government is arresting those speaking out … and violently crushing peaceful assemblies which attempt to petition the government for redress. A federal judge found that the law allowing indefinite detention of Americans without due process has a "chilling effect" on free speech. And see this and this. There are also enacted laws allowing the secret service to arrest anyone protesting near the president or other designated folks (that might explain incidents like this). Mass spying by the NSA violates our freedom of association, chilling our willingness to associate with people who are not firmly in the mainstream. The threat of being labeled a terrorist for exercising our First Amendment rights certainly violates the First Amendment. The government is using laws to crush dissent, and it's gotten so bad that even U.S. Supreme Court justices are saying that we are descending into tyranny. For example, the following actions may get an American citizen living on U.S. soil labeled as a "suspected terrorist" today:
And holding the following beliefs may also be considered grounds for suspected terrorism:
Of course, Muslims are more or less subject to a separate system of justice in America. And 1st Amendment rights are especially chilled when power has become so concentrated that the same agency which spies on all Americans also decideswho should be assassinated. Second AmendmentThe 2nd Amendment states:
Gun control and gun rights advocates obviously have very different views about whether guns are a force for violence or for good. But even a top liberal Constitutional law expert reluctantly admits that the right to own a gun is as important a Constitutional right as freedom of speech or religion:
The gun control debate – including which weapons and magazines are banned – is still in flux … Third AmendmentThe 3rd Amendment prohibits the government forcing people to house soldiers:
While a recent lawsuit by a Nevada family – covered by (Mother Jones, Fox News and Courthouse News – alleges bodily violation of the Third Amendment, such literal violation is virtually non-existent today. However, the NSA is stationing "digital troops" within our homes, taking over our computers and phones, and interfering with the quiet use and enjoyment of our houses. As such, the NSA is arguably violating our Third Amendment rights every single day.  Painting by Anthony Freda: www.AnthonyFreda.com. Fourth AmendmentThe 4th Amendment prevents unlawful search and seizure:
But the government is spying on everything we do … without any real benefit or justification. Indeed, experts say that the type of spying being carried out by the NSA and other agencies is exactly the kind of thing which King George imposed on the American colonists … which led to the Revolutionary War. And many Constitutional experts – such as Jonathan Turley – think that the police went too far in Boston with lockdowns and involuntary door-to-door searches.   Paintings by Anthony Freda: www.AnthonyFreda.com. Fifth AmendmentThe 5th Amendment addresses due process of law, eminent domain, double jeopardy and grand jury:
But the American government has shredded the 5th Amendment by subjecting us to indefinite detention and taking away our due process rights. The government claims the right to assassinate or indefinitely detain any American citizen on U.S. citizen without any due process. And see this. As such, the government is certainly depriving people of life, liberty, or property, without due process of law. There are additional corruptions of 5th Amendment rights – such as property being taken for private purposes. And the right to remain silent is gone. The percentage of prosecutions in which a defendant is denied a grand jury is difficult to gauge, as there is so much secrecy surrounding many terrorism trials.
Sixth AmendmentThe 6th Amendment guarantees the right to hear the criminal charges levied against us and to be able to confront the witnesses who have testified against us, as well as speedy criminal trials, and a public defender for those who cannot hire an attorney:
Subjecting people to indefinite detention or assassination obviously violates the 6th Amendment right to a jury trial. In both cases, the defendants is "disposed of" without ever receiving a trial … and often without ever hearing the charges against them. More and more commonly, the government prosecutes cases based upon "secret evidence" that they don't show to the defendant … or sometimes even the judge hearing the case. The government uses "secret evidence" to spy on Americans, prosecute leaking or terrorism charges (even against U.S. soldiers) and even assassinate people. And see this and this. Secret witnesses are being used in some cases. And sometimes lawyers are not even allowed to read their own briefs. Indeed, even the laws themselves are now starting to be kept secret. And it's about to get a lot worse. Seventh AmendmentThe 7th Amendment guarantees trial by jury in federal court for civil cases:
Technically, this right is still being respected. However, financial sheninagins have made it very difficult for most Americans to be able to enjoy this right. Specifically, the austerity caused by redistribution of wealth to the super-elite is causing severe budget cuts to the courts and legal assistance institutions. Moreover, there are two systems of justice in America … one for the big banks and other fatcats, and one for everyone else. The government made it official policy not to prosecute fraud, even though fraud is the main business model adopted by Wall Street. Indeed, the biggest financial crime in world history, the largest insider trading scandal of all time, illegal raiding of customer accounts and blatant financing of drug cartels and terrorists have all been committed recently without any real criminal prosecution or jail time. On the other hand, government prosecutors are using the legal system to crush dissent and to silence whistleblowers. And some of the nation's most powerful judges have lost their independence … and are in bed with the powers-that-be.  Painting by Anthony Freda: www.AnthonyFreda.com Eighth AmendmentThe 8th Amendment prohibits cruel and unusual punishment:
Indefinite detention and assassination are obviously cruel and unusual punishment. The widespread system of torture carried out in the last 10 years – with the help of other countries – violates the 8th Amendment. Many want to bring it back … or at least justify its past use. While Justice Scalia disingenuously argues that torture does not constitute cruel and unusual punishment because it is meant to produce information – not punish – he's wrong. It's not only cruel and unusual … it is technically a form of terrorism. And government whistleblowers are being cruelly and unusually punished with unduly harsh sentences meant to intimidate anyone else from speaking out. Ninth AmendmentThe 9th Amendment provides that people have other rights, even if they aren't specifically listed in the Constitution:
We can debate what our inherent rights as human beings are. I believe they include the right to a level playing field, and access to non-toxic food and water. You may disagree. But everyone agrees that the government should not actively encourage fraud and manipulation. However, the government – through its malignant, symbiotic relation with big corporations – is interfering with our aspirations for economic freedom, safe food and water (instead of arsenic-laden, genetically engineered junk), freedom from undue health hazards such as irradiation due to government support of archaic nuclear power designs, and a level playing field (as opposed to our crony capitalist system in which the little guy has no shot due to redistribution of wealth from the middle class to the super-elite, and government support of white collar criminals). By working hand-in-glove with giant corporations to defraud us into paying for a lower quality of life, the government is trampling our basic rights as human beings. Tenth AmendmentThe 10th Amendment provides that powers not specifically given to the Federal government are reserved to the states or individual:
Two of the central principles of America's Founding Fathers are:
Today, most Americans believe that the government is threatening – rather than protecting – freedom. We've become more afraid of our government than of terrorists, and believe that the government is no longer acting with the "consent of the governed". And the federal government is trampling the separation of powers by stepping on the toes of the states and the people. For example, former head S&L prosecutor Bill Black – now a professor of law and economics – notes:
Indeed, the federal government is doing everything it can to stick its nose into every aspect of our lives … and act like Big Brother. Edward Snowden showed us that the NSA spying programs "were never about terrorism: They're about economic spying, social control, and diplomatic manipulation. They're about power." Conclusion: While one or two of the liberties enshrined in the Bill of Rights still exist, the vast majority are under heavy assault. Other Constitutional Provisions … and The Declaration of IndependenceIn addition to the trampling of the Bill of Rights, the government has also trashed the separation of powers enshrined in the main body of the Constitution. For example, the NSA is spying on Congress. The government is also engaging in activities which the Founding Fathers fought against, such as taxation without representation (here and here), cronyism, deference to central banks, etc. As the preamble to the Declaration of Independence shows, the American government is still carrying out many of the acts the Founding Fathers found most offensive:
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| Better Than Expected US Economic Data Posted: 05 Jan 2014 09:00 AM PST Once again, US economic data came in better than expected. The ISM manufacturing index came in at 57.0 in December, with the employment component at 56.9, another increase. New orders improved to 64.2, though export orders declined to 55 from 59.5. The prices paid component suggested that inflation remains tame. Generally, the data supports the view that US manufacturing should improve this year. Construction spending rose by a better than expected +1.0% in November, with overall spending the highest since 2009, on an annualised basis. The fear that the inventory build would be unwound in Q4 does not appear to be the case, suggesting that Q4 GDP will come in higher than current estimates of around +2.5%. Consumer spending rose by +0.5% in November. Personal incomes rebounded in December, rising by +0.2%, having declined in November. New home sales did decline in November, but prior months data was revised higher. In addition, inventory levels remain low. EZ December manufacturing PMI rose to 52.7, up from 51.6 in November, the highest in 2 1/2 years. Germany outperformed as usual with its PMI coming in at 54.3, up from 52.7 in November, a 30 month high. However, France disappointed once again with its PMI declining to a 7 month low of 47.0 (ie, contraction territory), down from 48.4 in November. Spain surprised to the upside, reporting PMI of 50.8, with Italy doing even better at 53.3, a 32 month high. Spain also surprised positively on the jobs front – unemployment claims declined by 108k in December, the 2nd largest decline ever recorded and much better than the decline of 24k expected. Some of this improvement could have been due to seasonal factors admittedly, though recent data has been better. Latvia became the 18th country in the EU to use the Euro. UK manufacturing growth fell to 57.3, from a revised 58.1 in November and came in below expectations of 58.4. Whilst below expectations, UK data has generally been strong The HSBC Chinese December manufacturing PMI declined to 50.5, from 50.8 in November. It was the weakest reading in 3 months. The official PMI number declined to 4 month low of 51.0, down from 51.4 and below forecasts of 51.2. The export component came in at 49.8, suggesting contraction. Once again this reading suggests that recent export data was inflated. The State Council has forecast that GDP will increase by +7.6% this year, but I suspect that is an optimistic estimate. Chinese non-manufacturing PMI declined to 54.6 in December, from 56.0 in November, further confirming a slowing economy. To deal with the enormous amount of debt accumulated by the provinces in China, the government has agreed that local governments can roll over debt to avoid defaults. The National Audit office stated that total debt accumulated by the provinces amounted to nearly US$3 tr as of June last year, with some 40% of the total due to mature this year and 60% by the end of next year. The problem however is that a great deal of the expenditure was on low or indeed on projects which will produce negative returns, which will result in the level of accumulated debt increasing. Overview Investors continue to exit bond funds, with the proceeds mainly invested into equities. As a result, markets should see some support for a while. The 10 year US treasury rose above 3.0%, though closed just below. However, it looks as if yields will continue to rise to around 3.25%. Rising US yields will not be positive for emerging markets. Kiron Sarkar |
| Posted: 05 Jan 2014 05:00 AM PST Good Sunday morning. Here’s what I am reading:
What’s for brunch?
Rising Yields Give Bond Buyers and Issuers Pause for Thought |
| The Knight That Rules the Night Posted: 05 Jan 2014 03:00 AM PST Click for a larger photo. |
Painting by Anthony Freda: 
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