Pearl Harbor

[tslust]

Naval Intellegence knew that the Japanese carriers were on the move, but they thought they were headed for the South Pacific. They dismissed any possible attack on Pearl Harbor, becases at the time it was beleaved that it was unassailable (especially from an air attack).

BTW they broke the Japanese diplomatic code, not their naval codes.

[randolph]

Originally Posted by tslust

Naval Intellegence knew that the Japanese carriers were on the move, but they thought they were headed for the South Pacific. They dismissed any possible attack on Pearl Harbor, becases at the time it was beleaved that it was unassailable (especially from an air attack).

BTW they broke the Japanese diplomatic code, not their naval codes.

On page 76 of the book I am reading, Maj. Gen. E. T. Conley adjutant general of the Army estimated carriers could launch their planes from about 300 miles out and attack Pearl Harbor. This study was done in 1936. The Japanese attack followed this scenario almost exactly. Again in1941 "it appears that the most likely and dangerous attack on Oahu might be an air attack".

[randolph]

David Stockman
"Governments are broke?California, Illionis, New Jersey?and the federal government is not far behind," he said.After appearing on CNBC, Stockman said in a follow-up interview that the following moves could help solve the dismissal economic picture in the US:

1. Raise revenue across the entire population by a large magnitude to pay our (government's) bills; probably a half trillion dollars a year.
2. Social Security and Medicare: Cut benefits for better-off retirees by $100 billion a year through a means test for retirement entitlements.
3. Reduce defense spending by at least 20 percent from planned levels (by 2015), which is projected at about $800 billion.
4. Cut domestic discretionary spending by $100 billion?transportation, national parks service, education, farm subsidies, business subsidies (such as ethanol plants).

Stockman believes these solutions will be feasible if a "big breakdown" in the bond market occurs, which he believes will happen and will be forced on the US, as in the case of the PIIGS.
"You can not issue debt indefinitely and get away with it," he said.


Bond market breakdown OMG!