Phone Companies are Now Selling Your Personal Information

The Constitution, privacy, civil liberties, that’s all so…20th Century. Who wants privacy when your personal smartphone habits such as location and web-browsing information can be sold by your service provider without offering any compensation to the user. At least Google let’s you use their search engine for free while they spy on you.  The phone companies charge you for that privilege. Now that’s what I call economic progress!

In light of this, let’s not forget what the ACLU recently received from the U.S. government when they filed a Freedom of Information Act request about text message surveillance policy.  They got 15 pages of blacked out, redacted text.  Now, from the Wall Street Journal we discover:

Big phone companies have begun to sell the vast troves of data they gather about their subscribers’ locations, travels and Web-browsing habits.

The information provides a powerful tool for marketers but raises new privacy concerns. Even as Americans browsing the Internet grow more accustomed to having every move tracked, combining that information with a detailed accounting of their movements in the real world has long been considered particularly sensitive.

The new offerings are also evidence of a shift in the relationship between carriers and their subscribers. Instead of merely offering customers a trusted conduit for communication, carriers are coming to see subscribers as sources of data that can be mined for profit, a practice more common among providers of free online services like Google Inc. and Facebook Inc.

When a Verizon Wireless customer navigates to a website on her smartphone today, information about that website, her location and her demographic background may end up as a data point in a product called Precision Market Insights. The product, which Verizon launched in October 2012 after trial runs, offers businesses like malls, stadiums and billboard owners statistics about the activities and backgrounds of cellphone users in particular locations.

Carriers acknowledge the sensitivity of the data. But as advertisers and marketers seek more detailed information about potential customers and the telecom industry seeks new streams of revenue amid a maturing cellphone market, big phone companies have started to tiptoe in.

So they clearly understand the negative privacy implications, but after careful consideration (of the bottom line) they decided to sell the information anyway.  How thoughtful.

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Just Keep Dancing: Introducing the 97-Month Auto Loan

While many of us have been shouting about this from the rooftops for years now, with each passing day it becomes more clear what a terrifyingly gigantic powder keg we have created.  There is no debate that this will end in a compete financial holocaust, the only question is when and how.  As time progresses, the practices and desperation of the status quo to keep the sheeple in debt and consuming is getting increasingly insane.  We learn from the Wall Street Journal that:

The average price of a new car is now $31,000, up $3,000 in the past four years. But at the same time, the average monthly car payment edged down, to $460 from $465—the result of longer loan terms and lower interest rates.

In the final quarter of 2012, the average term of a new car note stretched out to 65 months, the longest ever, according to Experian Information Solutions Inc. Experian said that 17% of all new car loans in the past quarter were between 73 and 84 months and there were even a few as long as 97 months. Four years ago, only 11% of loans fell into this category.

Such long term loans can present consumers and lenders with heightened risk. With a six- or seven-year loan, it takes car-buyers longer to reach the point where they owe less on the car than it is worth. Having “negative equity” or being “upside down” in a car makes it harder to trade or sell the vehicle if the owner can’t make payments.

Hmmm, sound familiar?

Car makers have mixed feelings about long-term loans. They allow consumers to buy more expensive—and profitable—cars. But long loans may keep some people from replacing their cars, cutting into future sales.

I love how THAT is what they are concerned about.

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It Never Ends: Top Obama Housing Advisor Jumps Ship to Wells Fargo

No one should be surprised by this, particularly since Wells Fargo is the favored financial vehicle for America’s top crony capitalist – Warren “I’m just like you because I drink cherry coke and eat hamburgers” Buffett.  The person in question in the latest payoff revolving door move is Bob Ryan who is currently a senior advisor to Shaun Donovan, the secretary for Housing and Urban Development.  From the Wall Street Journal:

Mr. Ryan is currently a senior advisor to Shaun Donovan, the secretary for Housing and Urban Development. He joined HUD in 2009 as the first ever chief risk officer at the Federal Housing Administration and served briefly last year as the agency’s acting FHA commissioner. He previously spent 26 years at Freddie Mac.

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Ben Bernanke Just Told a Massive Lie About Milton Friedman and I Can Prove it

Ben Bernanke is so desperate to find support regarding his steal from the poor and give to the 0.01% policies he is now telling blatant lies about famous, dead economists that can’t refute what he says.  In this case Milton Friedman.  In his Q&A today, The Bernank claimed: *BERNANKE: MILTON FRIEDMAN WOULD HAVE SUPPORTED WHAT … Read more

NYC Mayor Mike Bloomberg Throws a Tantrum: Says Cops Should Strike Until Citizens are Disarmed

Poor little billionaire mayor of NYC, Mike Bloomberg, is at it again!  Clearly he couldn’t handle the heat he got for using the tragedy in the state of Colorado (where I happen to actually live) to push his anti-gun agenda.  So how does a megalomaniac cry baby respond?  By throwing a temper tantrum of course. … Read more

What It’s Like to Fight a National Security Letter

Here’s a very quick and interesting article from the WSJ.  I mean this case is once again a perfect microcosm for what is going on in America today.  These are the types of folks that the Department of Injustice and the FBI are chasing after, while there are thousands of financial criminals running around free … Read more