…..NYT, comedy gold

Advertisements

things you won’t read about in the MSM

Update: June 17 2009:

From the comments – good catch Gordo.  At least the National Post has a Bloomsbury item on this non-news event.

______________

Update: June 16 2009:

This is very significant news, because, as Michael Barnett writes in an email, one of the following must be true:

1. The Japanese are trying to secretly divest themselves of about 25% of their US debt. (They own about $600B in US debt.)

2. The Japanese are acting as Chinese or North Korean agents in trying to help them divest themselves of US debt in secret.

3. There is an enormous sum of counterfeit US debt out there and these guys are trying to sell some of it.

None of these cases bodes well for the US debt market.

__________

June 14 2009:

So, apparently two Japanese nationals were apprehended at the Italian / Swiss border carrying $134 Billion in US Treasury bearer bonds.   

1 3 4 Billion….Kind of blows the doors off the tired customs dude asking whether you are carrying $10K doesn’t it? 

At any rate, you might think that two people carrying the equivalent of 1/4 of the entire Canadian debt might rate a front page mention in more than a couple of our intrepid journals, and yet – mysteriously quiet.  [sound of crickets].   For instance, if you or I were to have in our possession the equivalent to the entire GDP of several african nations, and we were caught at a border with it, maybe the local, nay the international press might be interested.  If they’re fake it’s a story.  If the bearer bonds are real, its also a story!  

Go here to read some analysis… Its weird, but then again….

signs of the apocalypse

Via Marginal Revolution:  your helpful government (US) offering tax tips for nearly every eventuality….

Tax information for Parents of Kidnapped Children

Topic 357 – Tax Information for Parents of Kidnapped Children

You may claim a kidnapped child as your dependent if the following requirements are met:

  1. The child must be presumed by law enforcement to have been kidnapped by someone who is not a member of your family or a member of the child’s family, and
  2. The child had, for the taxable year in which the kidnapping occurred, the same principal place of abode as the taxpayer for more than one-half of the portion of such year before the date of kidnapping.
If both of these requirements are met, the child may meet the requirements for purposes of determining:
  • The dependency exemption
  • The child tax credit, and
  • Head of household or qualifying widow(er) with dependent child filing status.

This tax treatment will cease to apply as of your first tax year beginning after the calendar year in which either there is a determination that the child is dead or the child would have reached age 18, whichever occurs first. 

For more information, refer to Publication 501, Exemptions, Standard Deduction, and Filing Information