From the Loony Bin: Hillary Off the Grid, Etc…

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Hillary checking her email for Clinton Foundation donations from foreign dictators. (Photo: The Smoking Gun)

Bud’s Round-up of Daily Drivel:

  • Apple outsmarts Samsung: Sells more smartphones in 4Q, 74.8mm vs. 73mm.  (macrumors.com)
  • The rules are for little people: Romanian hacker reveals Hillary used private email while Secretary of State.  (The Smoking Gun)
  • Hillary’s excuse? Dogs don’t remember yesterday.  (Psychology Today)
  • Supreme court case: Highest US court to hear its 2nd Obamacare case.  (NBC)
  • So much for the 2014 election: House of Reps to vote on clean Homeland Security funding bill.  (Wash Post)
  • Bibi in the House: From the US House floor, Israeli PM warns against Iranian nuclear deal.  (Reuters)
  • The B-list: Forbes’ 2015 billionaires list.  (Forbes)
  • Backing away from Tiger: Golfer recants claim that Woods is serving drug suspension.  (USA Today)

President Obama’s Shadow Work Permit System Sees the Ugly Light of Day

ObamaSiSuePuedePhotoPin

“Sí se puede,” that’s Spanish for “Here’s your work permit.”

Work permits are officially known as EADs, “Employment Authorization Documents.” The table below is featured in a report issued this week by the Center for Immigration Studies (“CIS”), which, I’ll admit, is an anti-amnesty group. CIS says its report is based on information that it obtained from the US Citizenship and Immigration Services (“USCIS”) using a Freedom of Information Act (“FOIA”) request. Although CIS has an ideological ax to grind on this issue, so does virtually every politician who opines on it, so let’s assume for the sake of argument that the numbers below are accurate and worth some consideration. If the data were bogus, pro-immigration groups, who passionately take the other side of this debate, would probably be able to prove it easily with their own FOIA request.

Supposedly, the law allows for 1.1 million new legal immigrants and 700,000 guest workers each year (for a sense of scale, there were 3.9 million births in the US in 2013). CIS claims that for the period 2009-2014 the Obama administration has given out 7.4 million work permits beyond the congressionally mandated amount (see figure at bottom right of the table). This certainly seems odd, and several of the table’s individual line items certainly don’t provide much reassurance. The first section of the table, “Temporary Categories,” has a sub-total of 2.1 million distributed work permits. According to CIS, 1.4 million of those temporary visitors fall into categories where their employment in the US is prohibited by law. For example, “Tourists” and “Foreign Students” got 547K and 593K of the work permits, respectively. 213K more went to family of both students and guest workers (the largest line item among them is “Family of Temporary Workers” at 140K). It seems reasonable to ask: Why are these people getting work permits? If enough people feel there’s a legitimate reason, they should try to change the law; until they’re able, it’s unclear why the current law should be ignored.  Continue reading

Federal Dietary Panel: We Have No Idea What Foods Are Good for You

Doughnut burger

This doughnut burger might extend your life. (Photo: David Kover/aht.seriouseats.com)

Dr. Zoltan Ovary is a member of the Dietary Guidelines Advisory Committee, which meets every five years to produce the Scientific Report of the Dietary Guidelines Advisory Committee. Tallying a nonsensical 571 pages (the word Mediterranean appears 196 times), the 2015 version was published last week and will be used as a reference by the Department of Health and Human Services and the Department of Agriculture, which publish Dietary Guidelines for Americans every five years. When Dr. Ovary agreed to be interviewed by Bud Fox News‘ Silence Bellows, he suggested they meet at a rather strange place. When he sensed her skepticism, he explained to her:

“I don’t mean any funny business. McDonald’s is my favorite restaurant. And for all we know at the committee, their food is good for you!”

So the two had lunch at a fast-food restaurant that for years has drawn the ire of public health officials and nanny-staters everywhere. For the record, the strapping Dr. Ovary, who looked like a collegiate running back despite his 40 years, had a Bacon Clubhouse Burger, small fries, and a small Coke, topping it off with a McFlurry with M&Ms, a perfectly reasonable meal that, according to McDonald’s handy Meal Builder calculator, delivered the following: Continue reading

From the Loony Bin: Byron Jones Takes the Leap, Etc…

jump

Talk of the combine: In what is probably a world’s record, UConn’s Byron Jones jumps 12 feet, three inches from a standing start.  (Photo: sbnation.com)

Bud’s Round-up of Daily Drivel:

  • Moving up the draft board: UConn corner breaks NFL combine broad jump record by 2/3 of a foot, then does 44.5 inch vertical leap for an encore.  (YouTube)
  • Our politicians are even more incompetent in real life: House of Cards’ season 3 available Friday.  (trailer: YouTube)
  • $450K for a 10-day vacation? Ken Griffin, founder of Citadel hedge fund, and his free-spending wife continue to fight it out in divorce court.  (NBC)
  • Interesting: Pew Research’s poll results on Political Polarization in the American Public.  (Full report: Pew Research)
  • Lack of faith: Saudi man who renounced Islam gets the death penalty.  (NBC)
  • Start your engines: Consumer Reports announces its top 10 cars and SUVs.  (Consumer Reports)
  • Reporting on Bill O’Reilly: 3 questions that could decide his war-reporting controversy.  (Bloomberg)

From the Loony Bin: Shumpert to Smith Reverse Oop, Etc…

obama-laughing

Double entendre? “Two years is a long time,” Obama tells attendees at a San Fran fundraiser two weeks ago. (Photo: Joshua Roberts, Reuters)

Bud’s Round-up of Daily Drivel:

  • Take that, Zen Master: As Cavaliers, Iman Shumpert and J R Smith return to the Garden with a vengeance.  (YouTube)
  • Stocks take a breather: Dow and S&P 500 retreat from records hit Friday.  (ABC News)
  • Apple juiced: Stock hits new high, $775 billion market cap more than 2x value of any other US publicly traded company.  (CNBC)
  • Watch your money: 5 ways a financial advisor can legally do you wrong.  (Bloomberg)
  • Picking on the Prez: 12-year-old grabs the baton from Rudy Giuliani.  (Daily Mail)
  • The heat is on: Head of UN’s Climate Panel, accused of sexual harassment, takes the Anthony Weiner route and says his computer was hacked.  (Independent)
  • What about A-Rod: New York Yankees retire the number of admitted HGH-user Andy Pettitte.  (CBS)
  • Cool it: Mission Athletecare, maker of cooling towels, gets $35mm in new financing.  (NY Post)
  • Cuban diplomacy: Red Sox ink deal with 19-year-old Cuban prospect Yoan Moncada.  (FOX Sports)

Happy Birthday, George: A Presidential Quiz

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Our first president, born on February 22, 1732, led the Continental Army against the British.  (Photo: Baltimore Sun)

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Our current president, shown in selfie, aka “narcisstick,” mode, has led from behind on many occasions.  (Photo: BuzzFeed)

On the Anniversary of George Washington’s birth, let’s contrast three statements from our selfless first president with three from our selfie president. It’s pretty easy to guess who said which. Continue reading

From the Loony Bin: Nobel Prize for Sale, Etc…

Nobel prize

Minimum bid $150K:  The 1971 Nobel Prize in Economic Sciences is for sale.  (Photo: Nate D. Sanders)

Bud’s Round-up of Daily Drivel:

  • Always a good read: This year’s Economic Report of the President is out. Table B-21 on page 409 tells the real story.  (whitehouse.gov)
  • Nobel Prize for sale: Simon Kuznet’s 1971 award for Economic Sciences is on the auction block.  (Nate D. Sanders)
  • Car Wars: Apple hopes to begin production of an electric car in 2020.  (Bloomberg)
  • The Good, the Bad, and the Ugly:  Institutional Investor’s Alpha ranks the hedge funds.  (CNN)
  • Three NFL teams in Los Angeles?  Not so fast.  (Washington Post)
  • Oscar odds:  How to pick ’em if you’re in an Academy Awards pool.  (New York Times)

From the Loony Bin: Federal Reserve GDP Forecasts Stink, Etc…

SF Fed_1

These charts plot the evolution of the Federal Reserve’s GDP forecasts for 2008-2010 (above) and 2011-2013 (below) vs actual results.  Left vertical axis indicates GDP growth, right axis is trailing 12-month percentage change in the S&P 500.  (Source: http://www.frbsf.org)

SF Fed

As you can see, your guess is as good as theirs. (Source: http://www.frbsf.org)

Bud’s Round-up of Daily Drivel:

  • Interesting:  Researchers at San Francisco Federal Reserve Bank say the Fed can’t forecast too well.  (FRB of San Fran)
  • Pinboard billionaire: Pinterest new $500mm financing round targets $11B valuation.  (Wired)
  • A-lister: Angie’s List (ticker ANGI) touch lower today after yesterday’s 60% increase on strong 4Q results.  (thestreet.com)
  • Hedgie Shack attack: Unsecured creditors accuse hedge fund of foul play in Radio Shack bankruptcy.  (WSJ)
  • US jobless claims fall more than expected. (Reuters)
  • Nein:  Germany rejects Greek request for loan extension.  (The Guardian)
  • Dropping the F-bomb on net neutrality:  Mark Cuban attacks plan to regulate the internet.  (re/code)
  • All contributions welcome: The Clinton Foundation lifts restrictions on foreign government money.  (Washington Post)
  • The fox guards the henhouse: NFL official fired for trying to steal Deflategate football.  (NBC Sports)
  • Cheated:  UNC whistle-blower’s new book exposes academic fraud in college sports.  (Bloomberg)

The Personal Touch of Joe “The Handyman” Biden

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Welcome to ObamaLand: New Defense Secretary Ashton Carter already seems unaware of what is happening around him. (Photo: Evan Vucci/AP)

It’s probably a good bet that Joe Biden hasn’t had any real responsibility since Barack Obama tapped him as his running mate in April 2008. Depending on what you think of politicians, his do-nothing streak goes back even farther because Biden won a Delaware US Senate seat in 1972 and was elected to the New Castle County council two years before that when he was 27. He was graduated from Syracuse University College of Law in 1968, leaving virtually no time to pad his resume before plunging into the cesspool of local politics with his bid for county council. So Crazy Uncle Joe has been a glad-handing, back-slapping, empty-headed, faux-pas machine of a politico for 47 years. He is a living, breathing argument in favor of term limits. Continue reading

From the Loony Bin: Joe “The Handyman” Biden, Etc…

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Biden: Have you seen the size of my Obamacare voucher?  (Photo: Evan Vucci/AP)

Bud’s Round-up of Daily Drivel:

  • The Handyman strikes again:  Bawdy Joe Biden is up to his usual tricks.  (NPR)
  • Reservations at the Federal Reserve:  Policymakers hesitant to raise rates.  (Reuters)
  • Not Fade Away:  Snapchat seeking $19 billion valuation in current financing round.  (Bloomberg)
  • Not so fast:  Texas federal judge issues temporary stay blocking Obama’s executive order on immigration.  (Washington Post)
  • The pen is mightier than the bat:  Alex Rodriguez writes letter to fans.  (Deadspin)
  • We can survive without them:  Federal offices in DC get a snow day.  (Marketwatch.com)
  • The President’s Silly Summit:  Obama’s “Countering Violent Extremism” sit-in doesn’t look promising.  (Bloomberg)
  • The Regal Beagle:  “15-inch” version of the breed is top dog.  (NY Times)
  • Vlad the Thief:  Russia’s former largest foreign investor says Putin could be worth $200 billion.  (CNN)