Social Issues

Police chiefs have said that around 350 victims have reported child sexual abuse within UK football clubs, deepening the scandal that is currently rocking British football. The National Police Chiefs’ Council said on Thursday that a “significant number of calls” had been received after several former players reported sex abuse by coaches when they were children. According to the NSPCC, a hotline that was set up to help victims report the abuse had received 860 calls in its first week.

We've written several times over the past couple of months about the epic meltdown of the the Dallas Police and Firefighters Pension (DPFP) (see here, here and here for background).  It all started when the Pension Board discovered that one of their real estate managers had been consistently overmarking illiquid real estate investments.  That discovery resulted in an FBI investigation of the manager and a $1BN write down for the DPFP.  In the wake of the writedowns, Dallas policemen and firefighters rushed for the exits and withdrew over $500mm in assets. 

Two years ago the Obama administration sought out to tackle a "crisis" that involved minors seeking out "human smugglers" to help with transportation across the U.S. - Mexico border.  So, with a swipe of the pen, Obama signed an executive order allowing minors of certain Central American countries to flee to the U.S. under a "refugee/parole program." 

Submitted by Jayant Bhandari via Acting-Man.com,

A Market Gripped by Fear

The Indian Prime Minister announced on 8th November 2016 that Rs 500 and Rs 1,000 banknotes would no longer be legal tender. Linked are Part-I, Part-II and Part-III updates on the rapidly encroaching police state.

The economic and social mess that Modi has created is unprecedented. It will go down in history as an epitome of naivety and arrogance due to Modi’s self-centered desire to increase tax-collection at any cost.

Indian jewelry merchant

Via The Economic Cycle Research Institute,

With the economic expansion in its eighth year, over 15 million jobs added since the post-recession low in employment, and a steady decline in the jobless rate from its recessionary high of 10% to under 5%, many mainstream economists were convinced that the U.S. economy was in good shape. That misconception, at least where jobs are concerned, is a key reason so many were stunned by this month’s election verdict.