These are the supporters of the terrorist fantasy - The Daily Reckoning
The Daily Reckoning by Bill Bonner
On This Day - 12 June 2013
These are the supporters of the terrorist fantasy A  A  A

Paris, France

Behind every great fortune is a great crime, said French novelist Honore Balzac. What crime lies behind Booz Allen? Fraud, mostly.

More on that in a moment...

Dow down 116 yesterday. Gold down $9. Still no clarity in the markets. Still, no resolution. The unstoppable force of more and more credit is still bearing down on the immoveable object of excess debt.

Mr. Bernanke is pushing for higher stock prices...higher consumer prices ...and higher bond prices. Mr. Market still hasn't expressed himself clearly.

Mr. Market will have the last say. He always does. But he can hold his tongue for a very long time.

In the meantime, investors, planners and ordinary households can make big mistakes. And sometimes, they have a keener interest in seeing those mistakes continue than in correcting them.

------------------------- Discover the OTHER (mostly unknown) side of Small Cap Stocks... -------------------------

Small cap companies are risky...
They could vanish with your money overnight...
They are the first to be hit whenever the market crashes...

We are all well aware of the shortcomings that small cap companies possess.

But did you know... that when you invest in the "right" small cap stocks, you could make BIG returns from them?

That's right!

Given below is how you could do that. Along with an opportunity to try our small cap service, Hidden Treasure, for just Rs 499!

Yes! Click here for full details...

However, please note that this opportunity will be available for a limited time only!


The Economist:

    HOW serious is the terrorist threat that justifies the National Security Administration's surveillance of Americans? ... Matthew Yglesias: "Approximately zero lives per year are saved by airport security measures."

    Stephen Walt is a bit less hyperbolic, but he agrees that terrorism simply isn't the kind of danger that could merit the level of response America devotes to it. Unless terrorists get nuclear weapons, he says, they really can't do much damage in America...

    "post-9/11 terrorist plots have been mostly lame and inept, and Americans are at far greater risk from car accidents, bathtub mishaps, and a host of other undramatic dangers than they are from 'jihadi terrorism.'" He uses the Boston bombing in April as a case in point, describing it as tragic but less lethal than the factory explosion that took place that same week down in Texas.

    Mr Yglesias and Mr Walt are right: conventional terrorism poses no major threat to America or to its citizens...

    But we're not likely to get calmer about terrorism, because too many people are trying to keep us frantic. At least three parties stand to gain from exaggerating, rather than minimizing, our reactions to terrorist strikes. The first is the media, which wins viewership by whipping up anxiety over terrorist strikes. The second is politicians seeking partisan advantage...

    Finally, the third party trying to exacerbate our responses to terrorist attacks are the terrorists themselves, who have generally proven quite effective at choosing targets that provoke widespread media coverage.
He forgot Booz Allen! Yes, dear reader, he left out the main supporters of the terrorist fantasy: the zombies. The New York Times reports:
    Leaker's Employer Is Paid to Maintain Government Secrets

    WASHINGTON - Edward J. Snowden's employer, Booz Allen Hamilton, has become one of the largest and most profitable corporations in the United States almost exclusively by serving a single client: the government of the United States.

    Over the last decade, much of the company's growth has come from selling expertise, technology and manpower to the National Security Agency and other federal intelligence agencies. Booz Allen earned $1.3 billion, 23 percent of the company's total revenue, from intelligence work during its most recent fiscal year.

    As evidence of the company's close relationship with government, the Obama administration's chief intelligence official, James R. Clapper Jr., is a former Booz Allen executive. The official who held that post in the Bush administration, John M. McConnell, now works for Booz Allen.
Pretty good gig, no? The company earned $1.3 billion pretending to protect approximately nobody from a mostly non-existent threat. What it was actually doing was helping the feds snoop on the law-abiding people who pay the bills. The company shareholders get rich. Its executives get rich. Public servants walk through the revolving door into the company's plush offices...and they get rich too. What's not to like? And who's going to oppose more terror spending?

But wait, there's more! Louis Basenese:
    ...totally lost among the Snowden headlines yesterday - the Pentagon just announced a new cyber security budget.

    It calls for $23 billion in spending through 2018.

    That includes cyber terrorism spending of $4.6 billion in the next fiscal year - up 18% on the $3.9 billion allocated this fiscal year.

    In fiscal 2015, the spending rises yet again - to $4.7 billion!
Who gets that money? No doubt, Booz Allen will get a big chunk of it.

Bill Bonner is the President & Founder of Agora Inc, an international publisher of financial and special interest books and newsletters.

The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.

Get The Daily Reckoning directly
in your mail box.
Just enter your e-mail address » 

Read our Privacy Policy and Terms Of Use.

Equitymaster requests your view! Post a comment on "These are the supporters of the terrorist fantasy". Click here!


Recent Articles:
Trump Takes a Beating
August 18, 2017
Donald J Trump, a wrasslin' fan, took a 'Holy Sh*t!' blow on Tuesday.
Which Gods Will Bring Down the US Empire?
August 17, 2017
Mr Trump is in the White House and the gods are in their heavens; what's not to like?
Will They Haul Off Trump's Statue, Too?
August 16, 2017
All across the country, the old gods become devils. New, gluten-free gods take their places...
Farm Loan Waivers: Why Bad Economics Makes for Good Politics
August 14, 2017
It is because the negative effects of the waivers aren't clearly visible.