TSA Nude Body Scanners Worthless

The video demonstrates just how ineffective the body scanners are. The TSA was provided this video in advance of it being made public to give them an opportunity to turn off the scanners and revert to the metal detectors.

Reposted from Reddit:

“Rapiscan Systems, meanwhile, has spent $271,500 on lobbying so far this year, compared with $80,000 five years earlier. It has faced criticism for hiring Michael Chertoff, the former Homeland Security secretary, last year. Chertoff has been a prominent proponent of using scanners to foil terrorism. The government has spent $41.2 million with Rapiscan.”

Chertoff is a scumbag

“Former Homeland Security secretary Michael Chertoff was “flacking for Rapiscan,” writes Tim Carney of The Examiner:

After the undie-bomber attempt on Christmas 2009, Chertoff went on a media tour promoting the use of these scanners, without disclosing that he was getting paid by Rapiscan, one of the two companies currently contracted by TSA to take a nude picture of you at the airport.”

A really big f*** scumbag

“Between his private consulting firm, The Chertoff Group, and seats on the boards of giant defense and security firms, he sits at the heart of the giant security nexus created in the wake of 9/11, in effect creating a shadow homeland security agency. Chertoff launched his firm just days after President Barack Obama took office, eventually recruiting at least 11 top officials from the Department of Homeland Security, as well as former CIA director General Michael Hayden and other top military brass and security officials. “

I hate this country sometimes

Posted in Conspiracy.

Tagged with airport security, Backscatter, body scanner, TSA.

Comments Off on TSA Nude Body Scanners Worthless

By SurlyTrader – March 6, 2012

Ever Higher Gas Prices

The impact of gasoline prices is pretty easy to see in our economy. If you think of your own life, you know that if you spend $10 more on gasoline for your car, you have $10 less to spend elsewhere. Not only is there the direct impact, but the indirect impact which effects the costs of all goods that are delivered by ship, airplane or truck….which is pretty much everything aside from our digital world.

If you look at the last few years, gasoline spiked in July 2008 and May 2009:

If only we were back in the late 90's or early 2000's, then we would all be driving Hummers...

If we look at an overlay with the S&P 500, we can see pretty strong peaks before the crash of ’08 or the strong correction of 2011:

By no means is this a forecast, but it definitely seems like a headwind that we should keep an eye on. It seems that the media is selling the idea that, “$4 gasoline will not derail the economy”. At the same time, they are not saying that $4 gasoline will make the economy more fragile for other economic blows. It is usually not one factor that starts a slowdown, but a group of factors.

Posted in Economics, Markets.

Tagged with gasoline.

1 comment

By SurlyTrader – March 5, 2012

Noteworthy News – March 5, 2012

Economy:

Unemployment matters more than GDP or inflation – The Guardian

The brain science behind economics – Los Angeles Times

China must move towards market economy-World Bank – Reuters

Markets:

All the signs point to a falling oil price – except supply – CTV

DAVID STOCKMAN: You’d Be A Fool To Hold Anything But Cash Now – Business Insider

Retirement Plans Are Being Reconsidered – Huffington Post

Politics:

Greek default looms as voluntary debt deal looks set to fail – Telegraph

Moody’s warns of Greece default despite debt deal – BBC

Fed’s Dilemma: Markets Want Both Growth—And Stimulus – CNBC

Banks:

Financial Crisis Amnesia – WSJ (Tim Geithner)

Life as Libor Traders Knew It Seen as Abusive by Investigators – Bloomberg

Posted in Economics, Markets, Media, Politics.

Comments Off on Noteworthy News – March 5, 2012

By SurlyTrader – March 4, 2012

VIX Futures Showing Dissent

I am currently on a short sabbatical, but there are some market artifacts that I have to elaborate on. I already suggested that I am not participating in the current rally, and in actuality I am reducing any equity exposure with each move up in the equity markets. Many investors have decided to use VIX futures/options/ETP’s to hedge their long exposure in equities. In my own investing world, I am literally shorting the S&P 500 against my own stock holdings. The VIX futures are trading at a significant premium which should make the carrying cost of a long position more expensive than an outright short in equity beta.

I could spend quite a bit of time on why the market doesn’t *feel right*, but I would prefer to focus on one market artifact. Since the beginning of the year, VIX futures have not moved as predicted against the S&P 500’s realized volatility:

The chart does not show you what to do, but it does make you feel like the current run-up in equity prices with a run-up between realized volatility and 1 month vix futures is a bit strange. Either the VIX futures market participants are stupid, or they are predicting a reversion to high equity volatility in the near future that no other market participants are predicting.

I am hedging my long equity exposure as we move up in prices, but it all depends on how optimistic your outlook is.

Posted in Markets, Media.

3 comments

By SurlyTrader – February 29, 2012