Japan Abandons America
Japan might prove dollar's nemesis, not China
Germany Declares Economic War
US dollar seen caught in G20 meeting's crosshairs
Retirements in Peril: US System Full of Holes
FDIC is Broke, Taxpayers at Risk
Mission Accomplished: Part 1, Wrecking of the World's Greatest Economy
Sweet Spots (The Mogambo Guru)
FOREX-Dollar slides to 1-year low vs euro before Fed, G20
UK: Investors "Panic Buy" Other Currencies as Sterling Slides
When Housing is Priced in Gold
Dollar under scrutiny at G20 summit
House Passes Bill To Prevent Government Shutdown
Bailout Money for Smaller Banks Being Weighed
G-20 Leaders Declare Summit a Success
Lost Vegas: Living Underground in Flood Tunnels
Long-Term Prospects Good for Gold Bugs
Tuesday, September 29, 2009
Unemploymet Among Young Americans
Unemployment Among Young Americans Hits 52.2% - -- a post-World War II high, according to the Labor Dept.-- And worse, without a clear economic recovery plan aimed at creating entry-level jobs, the odds of many of these young adults -- aged 16 to 24, excluding students -- getting a job and moving out of their parents' houses are long.
Marc Faber on the future: Wars, massive government debt defaults, and the impoverishment of large segments of Western society.
Sugar's 'Perfect Storm' May Triple Price by June
What if everyone in the world wanted a 1oz Gold Coin?
Tidal Wave of Homeless Kids Hits Schools
35 Million Americans on Foodstamps
Karl Denninger: Deflationary Collapse Dead Ahead - The battle over whether the collapse will be deflationary or inflationary doesn't negate the fact that both lead to collapse.
World Bank: US Should Not Take Dollar's Place for Granted World Bank President Robert Zoellick: “The United States would be mistaken to take for granted the dollar’s place as the world’s predominant reserve currency.”
The Shadow Foreclosure Industry
Fed’s Alvarez Threatens Congress With Higher Rates if Fed is Audited
A Rich Uncle (Sam) is Picking Up the Borrowing Slack
Food Police Turns Liberals towards Libertarianism
The Dark Years Are Here
Marc Faber on the future: Wars, massive government debt defaults, and the impoverishment of large segments of Western society.
Sugar's 'Perfect Storm' May Triple Price by June
What if everyone in the world wanted a 1oz Gold Coin?
Tidal Wave of Homeless Kids Hits Schools
35 Million Americans on Foodstamps
Karl Denninger: Deflationary Collapse Dead Ahead - The battle over whether the collapse will be deflationary or inflationary doesn't negate the fact that both lead to collapse.
World Bank: US Should Not Take Dollar's Place for Granted World Bank President Robert Zoellick: “The United States would be mistaken to take for granted the dollar’s place as the world’s predominant reserve currency.”
The Shadow Foreclosure Industry
Fed’s Alvarez Threatens Congress With Higher Rates if Fed is Audited
A Rich Uncle (Sam) is Picking Up the Borrowing Slack
Food Police Turns Liberals towards Libertarianism
The Dark Years Are Here
Friday, September 25, 2009
Buying our own debt and printing 1.45 trillion??
Gold $990 - there's that sell-off we talked about. :-) Now, to the horror show that is our economy...
Federal Reserve Accounts For 50% of Second Quarter Treasury Purchases -- This is pure desperation on the part of our government. We're buying our own debt?
Orders for durable goods drop unexpectedly – New York Times
"Termites in the attic": is it time to panic about America's soaring debt? – Yahoo! Finance
Desperately seeking an exit strategy. (Roubini says debt monetization and inflation "the path of least resistance") - In all honesty, there's just no way out now. The US lacks the unity and honesty to get out of the situation we're in. Corruption at all levels will be our undoing.
Lehman Brothers Revisited - Strong words from Peter Schiff: "If the current policies continue, the America we know – for which our forebears risked so much – will cease to exist. "
UK: Crude Price "Shock" Next Threat to Recovery - "Soaring energy prices could fuel inflation and derail economic recovery, one of the Bank of England's most senior policymakers warned yesterday."
UK: Markets in Government-Fueled Bubble Says Hedge Fund Manager
US Debt Crisis May Cause "Fall Of Rome" Scenario - “The bad news is at the end of a 10-year period we’re still not going to have fixed the problem,” Duncan said in an interview in Hong Kong yesterday. “Eventually it will lead to high rates of inflation well down the line and really destabilize things to the point where there may be irreparable damage. A kind of ‘Fall of Rome’ scenario."
Things are Getting Better? - Basically, the "recovery" that has been touted has only been for the elite bankers and a few corporate bigwigs. From the middle class on down, there has been no recovery. Unemployment continues to climb.
Thank The Fed for Your Lack of Purchasing Power (The Mogambo Guru)
US new home sales rise - This headline should really read like this: The People who still have some money left have bought into the positive spin put out by the mainstream media, and mistakenly believing that the housing market has bottomed, purchased a new home.
FROM A MARTIN WEISS NEWSLETTER:
It’s starting to look like the Fed’s going to need a skyscraper-full of new printing presses ...
In a statement released yesterday, the Federal Reserve said,
“To provide support to mortgage lending and housing markets, and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt.”
That’s a total of $1.45 trillion! Where’s the Fed going to get the money? Simple: They’ll have to PRINT it — create it out of thin air!
Plus, even former Fed Chairman Alan Greenspan is beginning to panic about the dollar’s decline, warning that total U.S. private and public debt — now at 84% of GDP and still soaring — is “very dangerous” and threatens both long-term Treasuries and the dollar.
Federal Reserve Accounts For 50% of Second Quarter Treasury Purchases -- This is pure desperation on the part of our government. We're buying our own debt?
Orders for durable goods drop unexpectedly – New York Times
"Termites in the attic": is it time to panic about America's soaring debt? – Yahoo! Finance
Desperately seeking an exit strategy. (Roubini says debt monetization and inflation "the path of least resistance") - In all honesty, there's just no way out now. The US lacks the unity and honesty to get out of the situation we're in. Corruption at all levels will be our undoing.
Lehman Brothers Revisited - Strong words from Peter Schiff: "If the current policies continue, the America we know – for which our forebears risked so much – will cease to exist. "
UK: Crude Price "Shock" Next Threat to Recovery - "Soaring energy prices could fuel inflation and derail economic recovery, one of the Bank of England's most senior policymakers warned yesterday."
UK: Markets in Government-Fueled Bubble Says Hedge Fund Manager
US Debt Crisis May Cause "Fall Of Rome" Scenario - “The bad news is at the end of a 10-year period we’re still not going to have fixed the problem,” Duncan said in an interview in Hong Kong yesterday. “Eventually it will lead to high rates of inflation well down the line and really destabilize things to the point where there may be irreparable damage. A kind of ‘Fall of Rome’ scenario."
Things are Getting Better? - Basically, the "recovery" that has been touted has only been for the elite bankers and a few corporate bigwigs. From the middle class on down, there has been no recovery. Unemployment continues to climb.
Thank The Fed for Your Lack of Purchasing Power (The Mogambo Guru)
US new home sales rise - This headline should really read like this: The People who still have some money left have bought into the positive spin put out by the mainstream media, and mistakenly believing that the housing market has bottomed, purchased a new home.
FROM A MARTIN WEISS NEWSLETTER:
It’s starting to look like the Fed’s going to need a skyscraper-full of new printing presses ...
In a statement released yesterday, the Federal Reserve said,
“To provide support to mortgage lending and housing markets, and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt.”
That’s a total of $1.45 trillion! Where’s the Fed going to get the money? Simple: They’ll have to PRINT it — create it out of thin air!
Plus, even former Fed Chairman Alan Greenspan is beginning to panic about the dollar’s decline, warning that total U.S. private and public debt — now at 84% of GDP and still soaring — is “very dangerous” and threatens both long-term Treasuries and the dollar.
Business as usual
International Monetary Fund to sell over 403 tons of gold - It will be interesting to see who the buyers are. China has already admitted that they have to buy gold "quietly" since their purchases drive up the price. Also, this quantity will certainly cause a fluctuation in the price simply because there is more gold on the market. At one point this year, American Gold Eagles were very difficult to find.
America armed, but guns not necessarily loaded -- Ammo is hard to find. If that worries politicians, then it's a good thing.
Oil Prices Dip Below $69, Supplies Jump -- Watching oil this close is pointless unless you're a day trader. Once the world unhinges from the US dollar as the reserve currency, the price of oil will rise. The key is to make your investments outside of the US dollar in foreign markets.
IMF: No Full Recovery Until 2015 -- "But....but...........Bernanke said it was over.....", said the disillusioned American.
UK: Jobless Claims Show Demise of Slump May Be Exaggerated -- They deceive us for our own good!
Treasuries Fall After 5-Year-Notes Auction -- Our buyers have apparently gotten a peek behind the curtain.
UK: HSBC Staff Carrying Personal Alarms in Case of Customer Rage -- They know it's coming.
America armed, but guns not necessarily loaded -- Ammo is hard to find. If that worries politicians, then it's a good thing.
Oil Prices Dip Below $69, Supplies Jump -- Watching oil this close is pointless unless you're a day trader. Once the world unhinges from the US dollar as the reserve currency, the price of oil will rise. The key is to make your investments outside of the US dollar in foreign markets.
IMF: No Full Recovery Until 2015 -- "But....but...........Bernanke said it was over.....", said the disillusioned American.
UK: Jobless Claims Show Demise of Slump May Be Exaggerated -- They deceive us for our own good!
Treasuries Fall After 5-Year-Notes Auction -- Our buyers have apparently gotten a peek behind the curtain.
UK: HSBC Staff Carrying Personal Alarms in Case of Customer Rage -- They know it's coming.
One million school children now homeless
The Economy Is A Lie, Too
By Paul Craig Roberts
Global Research, September 22, 2009
Americans cannot get any truth out of their government about anything, the economy included. Americans are being driven into the ground economically, with one million school children now homeless, while Federal Reserve chairman Ben Bernanke announces that the recession is over.
The spin that masquerades as news is becoming more delusional. Consumer spending is 70% of the US economy. It is the driving force, and it has been shut down. Except for the super rich, there has been no growth in consumer incomes in the 21st century. Statistician John Williams of shadowstats.com reports that real household income has never recovered its pre-2001 peak.
The US economy has been kept going by substituting growth in consumer debt for growth in consumer income. Federal Reserve chairman Alan Greenspan encouraged consumer debt with low interest rates. The low interest rates pushed up home prices, enabling Americans to refinance their homes and spend the equity. Credit cards were maxed out in expectations of rising real estate and equity values to pay the accumulated debt. The binge was halted when the real estate and equity bubbles burst.
As consumers no longer can expand their indebtedness and their incomes are not rising, there is no basis for a growing consumer economy. Indeed, statistics indicate that consumers are paying down debt in their efforts to survive financially. In an economy in which the consumer is the driving force, that is bad news.
The banks, now investment banks thanks to greed-driven deregulation that repealed the learned lessons of the past, were even more reckless than consumers and took speculative leverage to new heights. At the urging of Larry Summers and Goldman Sachs’ CEO Henry Paulson, the Securities and Exchange Commission and the Bush administration went along with removing restrictions on debt leverage.
When the bubble burst, the extraordinary leverage threatened the financial system with collapse. The US Treasury and the Federal Reserve stepped forward with no one knows how many trillions of dollars to “save the financial system,” which, of course, meant to save the greed-driven financial institutions that had caused the economic crisis that dispossessed ordinary Americans of half of their life savings.
The consumer has been chastened, but not the banks. Refreshed with the TARP $700 billion and the Federal Reserve’s expanded balance sheet, banks are again behaving like hedge funds. Leveraged speculation is producing another bubble with the current stock market rally, which is not a sign of economic recovery but is the final savaging of Americans’ wealth by a few investment banks and their Washington friends. Goldman Sachs, rolling in profits, announced six figure bonuses to employees.
The rest of America is suffering terribly.
The unemployment rate, as reported, is a fiction and has been since the Clinton administration. The unemployment rate does not include jobless Americans who have been unemployed for more than a year and have given up on finding work. The reported 10% unemployment rate is understated by the millions of Americans who are suffering long-term unemployment and are no longer counted as unemployed. As each month passes, unemployed Americans drop off the unemployment role due to nothing except the passing of time.
The inflation rate, especially “core inflation,” is another fiction. “Core inflation” does not include food and energy, two of Americans’ biggest budget items. The Consumer Price Index (CPI) assumes, ever since the Boskin Commission during the Clinton administration, that if prices of items go up consumers substitute cheaper items. This is certainly the case, but this way of measuring inflation means that the CPI is no longer comparable to past years, because the basket of goods in the index is variable.
The Boskin Commission’s CPI, by lowering the measured rate of inflation, raises the real GDP growth rate. The result of the statistical manipulation is an understated inflation rate, thus eroding the real value of Social Security income, and an overstated growth rate. Statistical manipulation cloaks a declining standard of living.
In bygone days of American prosperity, American incomes rose with productivity. It was the real growth in American incomes that propelled the US economy.
In today’s America, the only incomes that rise are in the financial sector that risks the country’s future on excessive leverage and in the corporate world that substitutes foreign for American labor. Under the compensation rules and emphasis on shareholder earnings that hold sway in the US today, corporate executives maximize earnings and their compensation by minimizing the employment of Americans.
Try to find some acknowledgement of this in the “mainstream media,” or among economists, who suck up to the offshoring corporations for grants.
The worst part of the decline is yet to come. Bank failures and home foreclosures are yet to peak. The commercial real estate bust is yet to hit. The dollar crisis is building.
When it hits, interest rates will rise dramatically as the US struggles to finance its massive budget and trade deficits while the rest of the world tries to escape a depreciating dollar.
Since the spring of this year, the value of the US dollar has collapsed against every currency except those pegged to it. The Swiss franc has risen 14% against the dollar. Every hard currency from the Canadian dollar to the Euro and UK pound has risen at least 13 % against the US dollar since April 2009. The Japanese yen is not far behind, and the Brazilian real has risen 25% against the almighty US dollar. Even the Russian ruble has risen 13% against the US dollar.
What sort of recovery is it when the safest investment is to bet against the US dollar?
The American household of my day, in which the husband worked and the wife provided household services and raised the children, scarcely exists today. Most, if not all, members of a household have to work in order to pay the bills. However, the jobs are disappearing, even the part-time ones.
If measured according to the methodology used when I was Assistant Secretary of the Treasury, the unemployment rate today in the US is above 20%. Moreover, there is no obvious way of reducing it. There are no factories, with work forces temporarily laid off by high interest rates, waiting for a lower interest rate policy to call their workforces back into production.
The work has been moved abroad. In the bygone days of American prosperity, CEOs were inculcated with the view that they had equal responsibilities to customers, employees, and shareholders. This view has been exterminated. Pushed by Wall Street and the threat of takeovers promising “enhanced shareholder value,” and incentivized by “performance pay,” CEOs use every means to substitute cheaper foreign employees for Americans .
Despite 20% unemployment and cum laude engineering graduates who cannot find jobs or even job interviews, Congress continues to support 65,000 annual H-1B work visas for foreigners.
In the midst of the highest unemployment since the Great Depression what kind of a fool do you need to be to think that there is a shortage of qualified US workers?
Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He is coauthor of The Tyranny of Good Intentions. His new book, War of the Worlds: How the Economy Was Lost, will be published next month by AK Press/CounterPunch. He can be reached at: PaulCraigRoberts@yahoo.com
Global Research Articles by Paul Craig Roberts
By Paul Craig Roberts
Global Research, September 22, 2009
Americans cannot get any truth out of their government about anything, the economy included. Americans are being driven into the ground economically, with one million school children now homeless, while Federal Reserve chairman Ben Bernanke announces that the recession is over.
The spin that masquerades as news is becoming more delusional. Consumer spending is 70% of the US economy. It is the driving force, and it has been shut down. Except for the super rich, there has been no growth in consumer incomes in the 21st century. Statistician John Williams of shadowstats.com reports that real household income has never recovered its pre-2001 peak.
The US economy has been kept going by substituting growth in consumer debt for growth in consumer income. Federal Reserve chairman Alan Greenspan encouraged consumer debt with low interest rates. The low interest rates pushed up home prices, enabling Americans to refinance their homes and spend the equity. Credit cards were maxed out in expectations of rising real estate and equity values to pay the accumulated debt. The binge was halted when the real estate and equity bubbles burst.
As consumers no longer can expand their indebtedness and their incomes are not rising, there is no basis for a growing consumer economy. Indeed, statistics indicate that consumers are paying down debt in their efforts to survive financially. In an economy in which the consumer is the driving force, that is bad news.
The banks, now investment banks thanks to greed-driven deregulation that repealed the learned lessons of the past, were even more reckless than consumers and took speculative leverage to new heights. At the urging of Larry Summers and Goldman Sachs’ CEO Henry Paulson, the Securities and Exchange Commission and the Bush administration went along with removing restrictions on debt leverage.
When the bubble burst, the extraordinary leverage threatened the financial system with collapse. The US Treasury and the Federal Reserve stepped forward with no one knows how many trillions of dollars to “save the financial system,” which, of course, meant to save the greed-driven financial institutions that had caused the economic crisis that dispossessed ordinary Americans of half of their life savings.
The consumer has been chastened, but not the banks. Refreshed with the TARP $700 billion and the Federal Reserve’s expanded balance sheet, banks are again behaving like hedge funds. Leveraged speculation is producing another bubble with the current stock market rally, which is not a sign of economic recovery but is the final savaging of Americans’ wealth by a few investment banks and their Washington friends. Goldman Sachs, rolling in profits, announced six figure bonuses to employees.
The rest of America is suffering terribly.
The unemployment rate, as reported, is a fiction and has been since the Clinton administration. The unemployment rate does not include jobless Americans who have been unemployed for more than a year and have given up on finding work. The reported 10% unemployment rate is understated by the millions of Americans who are suffering long-term unemployment and are no longer counted as unemployed. As each month passes, unemployed Americans drop off the unemployment role due to nothing except the passing of time.
The inflation rate, especially “core inflation,” is another fiction. “Core inflation” does not include food and energy, two of Americans’ biggest budget items. The Consumer Price Index (CPI) assumes, ever since the Boskin Commission during the Clinton administration, that if prices of items go up consumers substitute cheaper items. This is certainly the case, but this way of measuring inflation means that the CPI is no longer comparable to past years, because the basket of goods in the index is variable.
The Boskin Commission’s CPI, by lowering the measured rate of inflation, raises the real GDP growth rate. The result of the statistical manipulation is an understated inflation rate, thus eroding the real value of Social Security income, and an overstated growth rate. Statistical manipulation cloaks a declining standard of living.
In bygone days of American prosperity, American incomes rose with productivity. It was the real growth in American incomes that propelled the US economy.
In today’s America, the only incomes that rise are in the financial sector that risks the country’s future on excessive leverage and in the corporate world that substitutes foreign for American labor. Under the compensation rules and emphasis on shareholder earnings that hold sway in the US today, corporate executives maximize earnings and their compensation by minimizing the employment of Americans.
Try to find some acknowledgement of this in the “mainstream media,” or among economists, who suck up to the offshoring corporations for grants.
The worst part of the decline is yet to come. Bank failures and home foreclosures are yet to peak. The commercial real estate bust is yet to hit. The dollar crisis is building.
When it hits, interest rates will rise dramatically as the US struggles to finance its massive budget and trade deficits while the rest of the world tries to escape a depreciating dollar.
Since the spring of this year, the value of the US dollar has collapsed against every currency except those pegged to it. The Swiss franc has risen 14% against the dollar. Every hard currency from the Canadian dollar to the Euro and UK pound has risen at least 13 % against the US dollar since April 2009. The Japanese yen is not far behind, and the Brazilian real has risen 25% against the almighty US dollar. Even the Russian ruble has risen 13% against the US dollar.
What sort of recovery is it when the safest investment is to bet against the US dollar?
The American household of my day, in which the husband worked and the wife provided household services and raised the children, scarcely exists today. Most, if not all, members of a household have to work in order to pay the bills. However, the jobs are disappearing, even the part-time ones.
If measured according to the methodology used when I was Assistant Secretary of the Treasury, the unemployment rate today in the US is above 20%. Moreover, there is no obvious way of reducing it. There are no factories, with work forces temporarily laid off by high interest rates, waiting for a lower interest rate policy to call their workforces back into production.
The work has been moved abroad. In the bygone days of American prosperity, CEOs were inculcated with the view that they had equal responsibilities to customers, employees, and shareholders. This view has been exterminated. Pushed by Wall Street and the threat of takeovers promising “enhanced shareholder value,” and incentivized by “performance pay,” CEOs use every means to substitute cheaper foreign employees for Americans .
Despite 20% unemployment and cum laude engineering graduates who cannot find jobs or even job interviews, Congress continues to support 65,000 annual H-1B work visas for foreigners.
In the midst of the highest unemployment since the Great Depression what kind of a fool do you need to be to think that there is a shortage of qualified US workers?
Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He is coauthor of The Tyranny of Good Intentions. His new book, War of the Worlds: How the Economy Was Lost, will be published next month by AK Press/CounterPunch. He can be reached at: PaulCraigRoberts@yahoo.com
Global Research Articles by Paul Craig Roberts
Armageddon
US May Face 'Armageddon' If China, Japan Don't Buy Debt
Friday, September 25, 2009 1:14:57 PMFrom: Chris Harper Add to Contacts
To:
--------------------------------------------------------------------------------
US May Face 'Armageddon' If China, Japan Don't Buy Debt
US May Face 'Armageddon' If China, Japan Don't Buy Debt
By: JeeYeon Park
News Associate
The US is too dependent on Japan and China buying up the country's debt and could face severe economic problems if that stops, Tiger Management founder and chairman Julian Robertson told CNBC.
CNBC.com
Julian Robertson, founder of Tiger Management
--------------------------------------------------------------------------------
"It's almost Armageddon if the Japanese and Chinese don't buy our debt,” Robertson said in an interview. "I don't know where we could get the money. I think we've let ourselves get in a terrible situation and I think we ought to try and get out of it."
Robertson said inflation is a big risk if foreign countries were to stop buying bonds.
“If the Chinese and Japanese stop buying our bonds, we could easily see [inflation] go to 15 to 20 percent,” he said. “It's not a question of the economy. It's a question of who will lend us the money if they don't. Imagine us getting ourselves in a situation where we're totally dependent on those two countries. It's crazy.”
Watch the Interview With Julian Robertson (Pt. 2)
Slideshow: The Biggest Holders of US Government Debt
Robertson said while he doesn’t think the Chinese will stop buying US bonds, the Japanese may eventually be forced to sell some of their long-term bonds. [SO OUR FUTURE IS IN CHINA'S HANDS - Yikes.]
“That's much worse than not buying,” he said. “The other thing is, they're buying almost exclusively short-term debt. And that's what we are offering, because we can't sell the long-term debt. And you know, the history has been that people who borrow short term really get burned.”
The only way to avoid the problem, he said, is to "grow and save our way out of it."
"The U.S. has to quit spending, cut back, start saving, and scale backward," Robertson said. "Until that happens, I don't think we're anywhere near out of the woods.”
Robertson is not very optimistic about the short-term.
“We're in for some real rough sledding,” he said. “ I really do think the recession is at least temporarily over. But we haven't addressed so many of our problems and we are borrowing so much money that we can't possibly pay it back, unless the Chinese and Japanese buy our bonds.”
© 2009 CNBC.com
Friday, September 25, 2009 1:14:57 PMFrom: Chris Harper
To:
--------------------------------------------------------------------------------
US May Face 'Armageddon' If China, Japan Don't Buy Debt
US May Face 'Armageddon' If China, Japan Don't Buy Debt
By: JeeYeon Park
News Associate
The US is too dependent on Japan and China buying up the country's debt and could face severe economic problems if that stops, Tiger Management founder and chairman Julian Robertson told CNBC.
CNBC.com
Julian Robertson, founder of Tiger Management
--------------------------------------------------------------------------------
"It's almost Armageddon if the Japanese and Chinese don't buy our debt,” Robertson said in an interview. "I don't know where we could get the money. I think we've let ourselves get in a terrible situation and I think we ought to try and get out of it."
Robertson said inflation is a big risk if foreign countries were to stop buying bonds.
“If the Chinese and Japanese stop buying our bonds, we could easily see [inflation] go to 15 to 20 percent,” he said. “It's not a question of the economy. It's a question of who will lend us the money if they don't. Imagine us getting ourselves in a situation where we're totally dependent on those two countries. It's crazy.”
Watch the Interview With Julian Robertson (Pt. 2)
Slideshow: The Biggest Holders of US Government Debt
Robertson said while he doesn’t think the Chinese will stop buying US bonds, the Japanese may eventually be forced to sell some of their long-term bonds. [SO OUR FUTURE IS IN CHINA'S HANDS - Yikes.]
“That's much worse than not buying,” he said. “The other thing is, they're buying almost exclusively short-term debt. And that's what we are offering, because we can't sell the long-term debt. And you know, the history has been that people who borrow short term really get burned.”
The only way to avoid the problem, he said, is to "grow and save our way out of it."
"The U.S. has to quit spending, cut back, start saving, and scale backward," Robertson said. "Until that happens, I don't think we're anywhere near out of the woods.”
Robertson is not very optimistic about the short-term.
“We're in for some real rough sledding,” he said. “ I really do think the recession is at least temporarily over. But we haven't addressed so many of our problems and we are borrowing so much money that we can't possibly pay it back, unless the Chinese and Japanese buy our bonds.”
© 2009 CNBC.com
Sunday, September 20, 2009
USD reserve status on the chopping block
Most people don't get this kind of information on a daily basis, so the masses are largely unaware of just how dire the situation is. Count yourself lucky if you're reading this. At least you have an idea of what's headed your way. Can you imagine this catching you completely off guard?
U.N. calls for replacement of U.S. dollar; Joins Russia, China and G20 with demands
http://www.wnd.com/index.php?fa=PAGE.view&pageId=109774
IMF step forward - I mentioned this about a week ago. It's still on the table and gaining momentum.
Warning: Deflationary Collapse Ahead.- an Urgent warning from Market Ticker.
Derivatives Still Pose Huge Risk, BIS Says
http://market-ticker.org/archives/1439-WARNING-Deflationary-Collapse-Dead-Ahead.html
How the Collapse of Lehman Bros. Averted a Second Depression - You should replace the word "Averted" with "Postponed" for accuracy.
Geithner Exaggerates US Government Retreat
Natural Gas Prices Spike 12% - Even with warehouse tanks bulging.
Wall Street Crisis One Year Later: Lehman, WaMu Lead List of Biggest Bankruptcies
Wall Street Math Wizards Forgot a Few Variables
http://finance.yahoo.com/banking-budgeting/article/107718/wall-street-crisis-one-year-later.html;
Cautiously, Small Investors Edge Back Into Stocks - They're being set up for the slaughter. All signs are that big investors are getting out.
Job Market Outlook: When Will Companies Start Hiring?
Stiglitz Says Banking Problems are Not Bigger than Pre-Lehman
R.I.P. Zimbabwe Dollar - The ultimate "quantitative easing" country..............next to the US that is.
US Tire Duties Spark Clash with China - "Oh, so that's the way its going to be is it?"
U.N. calls for replacement of U.S. dollar; Joins Russia, China and G20 with demands
http://www.wnd.com/index.php?fa=PAGE.view&pageId=109774
IMF step forward - I mentioned this about a week ago. It's still on the table and gaining momentum.
Warning: Deflationary Collapse Ahead.- an Urgent warning from Market Ticker.
Derivatives Still Pose Huge Risk, BIS Says
http://market-ticker.org/archives/1439-WARNING-Deflationary-Collapse-Dead-Ahead.html
How the Collapse of Lehman Bros. Averted a Second Depression - You should replace the word "Averted" with "Postponed" for accuracy.
Geithner Exaggerates US Government Retreat
Natural Gas Prices Spike 12% - Even with warehouse tanks bulging.
Wall Street Crisis One Year Later: Lehman, WaMu Lead List of Biggest Bankruptcies
Wall Street Math Wizards Forgot a Few Variables
http://finance.yahoo.com/banking-budgeting/article/107718/wall-street-crisis-one-year-later.html;
Cautiously, Small Investors Edge Back Into Stocks - They're being set up for the slaughter. All signs are that big investors are getting out.
Job Market Outlook: When Will Companies Start Hiring?
Stiglitz Says Banking Problems are Not Bigger than Pre-Lehman
R.I.P. Zimbabwe Dollar - The ultimate "quantitative easing" country..............next to the US that is.
US Tire Duties Spark Clash with China - "Oh, so that's the way its going to be is it?"
Destruction of US Empire
VITAL SIGNS FOR 15 SEP 09
GOLD - $1007
SILVER - $17.04
DOLLAR INDEX - 76.51 (When it hits 72 be afraid. When it gets below 70, be very afraid.)
The destruction of the US empire – "Currently, about 20 million people work for government. About 45 million receive Social Security benefits. About 34 million depend on food stamps." CURRENTLY - there are more people working for the Federal government than are employed in industry in the US. The parasite has become larger than its host.
Treasuries decline as retail sales surge most in three years – If you don't know what a "Treasury Bond" is, I'll tell you. It's something that we sell to other countries to pay off our debt. In essence, we are selling our debt and they are investing in them under the guise that we are a strong and powerful nation and a "good bet". A lot of countries have recently stopped buying our treasuries, so the Fed has been picking them up to fill in the gap.
The ugly truth behind retail sales – "Sales have declined 8.3% in the past 12 months. Excluding autos, sales have fallen 8.5% in the past year."
Japan airlines to cut routes and 6,800 jobs – New York Times - Big business is cutting back on their use of airline travel. This economic crunch is global.
China And Gold – What he said about US monetary policy and gold – this bit on the record – would appear to validate the long-held belief of gold bugs that China has fundamentally lost confidence in the US dollar and is going to shift to a partial gold standard through reserve accumulation.
He played down other metals such as copper, saying that they could not double as a proxy currency or store of wealth.
“Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not stimulate the market,” he said.
Gold surges after Bernanke says recession is over – "However, he and other Fed officials reiterated views that unemployment will remain high and that the economy stay weak well into next year, fueling expectations that the central bank will continue to provide ample liquidity." ALL YOU SHOULD TAKE AWAY from this is that THEY KNOW unemployment will rise, and the economy will stay weak. Saying the recession is over is their way of getting the public to accept it. Gold surged because big investors immediately recognized what I've just told you.
GOLD - $1007
SILVER - $17.04
DOLLAR INDEX - 76.51 (When it hits 72 be afraid. When it gets below 70, be very afraid.)
The destruction of the US empire – "Currently, about 20 million people work for government. About 45 million receive Social Security benefits. About 34 million depend on food stamps." CURRENTLY - there are more people working for the Federal government than are employed in industry in the US. The parasite has become larger than its host.
Treasuries decline as retail sales surge most in three years – If you don't know what a "Treasury Bond" is, I'll tell you. It's something that we sell to other countries to pay off our debt. In essence, we are selling our debt and they are investing in them under the guise that we are a strong and powerful nation and a "good bet". A lot of countries have recently stopped buying our treasuries, so the Fed has been picking them up to fill in the gap.
The ugly truth behind retail sales – "Sales have declined 8.3% in the past 12 months. Excluding autos, sales have fallen 8.5% in the past year."
Japan airlines to cut routes and 6,800 jobs – New York Times - Big business is cutting back on their use of airline travel. This economic crunch is global.
China And Gold – What he said about US monetary policy and gold – this bit on the record – would appear to validate the long-held belief of gold bugs that China has fundamentally lost confidence in the US dollar and is going to shift to a partial gold standard through reserve accumulation.
He played down other metals such as copper, saying that they could not double as a proxy currency or store of wealth.
“Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not stimulate the market,” he said.
Gold surges after Bernanke says recession is over – "However, he and other Fed officials reiterated views that unemployment will remain high and that the economy stay weak well into next year, fueling expectations that the central bank will continue to provide ample liquidity." ALL YOU SHOULD TAKE AWAY from this is that THEY KNOW unemployment will rise, and the economy will stay weak. Saying the recession is over is their way of getting the public to accept it. Gold surged because big investors immediately recognized what I've just told you.
Recovery or Revolution
Celente thinks we're headed for Revolution. With all that's transpired, it wouldn't surprise me one bit -- and that should scare us all. Keep in mind that the Depression has already started for a lot of people. They already don't have jobs, money, food or any luxuries to speak of. There's no way we will emerge on the other side as what we started out as. On top of that, there are very realistic threats from the outside in the form of catastrophic terroristic acts. These are indeed dire times - too dire to be making dumb financial decisions.
Celente: Revolution Next for US
Poll: 45% of Doctors Would Consider Quitting if Health Care Overhaul is Passed
China Condemns U.S. Tariffs on Tires as 'Protectionism'
In 2009, US public debt will be approximately 90% of GDP
Getting Better Bargains Easier in this Economy
42 States Lose Jobs in August, Up from 29 in July
FDIC Chief Considers Tapping Treasury for Funds
Stocks Advance as Investors Look to Resume Rally
Oil Down to $72 on Concerns Demand Recovery Slow
Gold Industry Faces Reserve Crisis
Volcker Launches Bombshell on Wall Street and D.C.
Celente: Revolution Next for US
Poll: 45% of Doctors Would Consider Quitting if Health Care Overhaul is Passed
China Condemns U.S. Tariffs on Tires as 'Protectionism'
In 2009, US public debt will be approximately 90% of GDP
Getting Better Bargains Easier in this Economy
42 States Lose Jobs in August, Up from 29 in July
FDIC Chief Considers Tapping Treasury for Funds
Stocks Advance as Investors Look to Resume Rally
Oil Down to $72 on Concerns Demand Recovery Slow
Gold Industry Faces Reserve Crisis
Volcker Launches Bombshell on Wall Street and D.C.
Saturday, September 12, 2009
Gold closes at $1005 an oz. - Incredible
You might have noticed that gold set a record weekly closing price on Friday at $1,005 per ounce, and silver closed at $16.70. There should be some profit-taking in the next two weeks, so be ready to buy on the dips. If you are of the mindset that it's crazy to buy gold at prices this "high", be sure to watch the video at the following link if you haven't already.
"US is on the slippery slope to economic collapse"
Treasury sees millions more foreclosures - Millions more people won't be able to hold out much longer and will default on their loans, leaving the banks to foot the bill, and a lot of banks won't survive this round.
Government Paid Dealers $1.2 Billion for "Clunkers" - No, the TAXPAYERS bought the clunkers, not the government.
NYC's Tavern on the Green Files for Chapter 11 Bankruptcy - I guess no one really needs a $25 club sandwich any more.
Trade, Jobless Claims Figures Show Recession Fading -- READ between the lines! What are they really saying with this headline? A: We are still in a recession. B: Trade is down and more people lost jobs, but fewer than last month. -- They never stop trying to outsmart the US public. They have to report what happened in the most positive light. It's all in the marketing.
Money Market Fund Guarantee Program to End - The banks are recognizing that they can no longer keep their promises to their customers. Red flag, much?
Proctor & Gamble Sees Sales Starting to Rise Again in 2Q - If you look at this list of Procter and Gamble Products, you'll see that there's no explanation on why their sales would increase other than the fact that people are stocking up for an economic collapse. Suddenly people need more detergent, deodorant and shampoo?
Seed Company Monsanto Plans to Double Staff Cuts - Here's the way you need to interpret this one. Although survivalists are buying a lot more seeds (>1% of the population), farms that actually grow food for the average consumer are going under because they can't get credit from the banks. If you'll remember, the US Dept. of Agriculture reported that there will be multiple millions of acres of land that won't be planted this year, that historically has been. The end result is that the largest seed supplier in the US is laying off workers. Does this hint at a decrease in food availability in our future? And does that mean that food prices will climb due to lack of availability? Take advantage of this situation and order seeds from this company. You'll need your own garden eventually anyway.
"US is on the slippery slope to economic collapse"
Treasury sees millions more foreclosures - Millions more people won't be able to hold out much longer and will default on their loans, leaving the banks to foot the bill, and a lot of banks won't survive this round.
Government Paid Dealers $1.2 Billion for "Clunkers" - No, the TAXPAYERS bought the clunkers, not the government.
NYC's Tavern on the Green Files for Chapter 11 Bankruptcy - I guess no one really needs a $25 club sandwich any more.
Trade, Jobless Claims Figures Show Recession Fading -- READ between the lines! What are they really saying with this headline? A: We are still in a recession. B: Trade is down and more people lost jobs, but fewer than last month. -- They never stop trying to outsmart the US public. They have to report what happened in the most positive light. It's all in the marketing.
Money Market Fund Guarantee Program to End - The banks are recognizing that they can no longer keep their promises to their customers. Red flag, much?
Proctor & Gamble Sees Sales Starting to Rise Again in 2Q - If you look at this list of Procter and Gamble Products, you'll see that there's no explanation on why their sales would increase other than the fact that people are stocking up for an economic collapse. Suddenly people need more detergent, deodorant and shampoo?
Seed Company Monsanto Plans to Double Staff Cuts - Here's the way you need to interpret this one. Although survivalists are buying a lot more seeds (>1% of the population), farms that actually grow food for the average consumer are going under because they can't get credit from the banks. If you'll remember, the US Dept. of Agriculture reported that there will be multiple millions of acres of land that won't be planted this year, that historically has been. The end result is that the largest seed supplier in the US is laying off workers. Does this hint at a decrease in food availability in our future? And does that mean that food prices will climb due to lack of availability? Take advantage of this situation and order seeds from this company. You'll need your own garden eventually anyway.
Friday, September 11, 2009
Regarding 9/11 - Must Know
Please access the like below:
http://www.deseretnews.com/article/print/705328180/Is-another-911-set-to-unfold.html
Is another 9/11 set to unfold?
By Lee Benson
Deseret News
Published: Saturday, Sept. 5, 2009 9:32 p.m. MDT
Earlier this year, quite by happenstance, I read a book written by Pulitzer Prize-winning reporter James B. Stewart.
"Heart of a Soldier" tells the story of two men who, well before it happened, foretold not only of the terrorist attack of 9/11 but also the 1993 bombing in the World Trade Center parking garage that preceded it.
One of the men, Rick Rescorla, was chief of security for Morgan Stanley with an office in the World Trade Center. He died on 9/11, but not before he shepherded all but six of Morgan Stanley's 2,700 employees to safety because of a well-prepared and well-executed evacuation plan. He'd have made it out, too, had he not gone back in the building looking for those six.
The other man, Daniel J. Hill, is still alive.
With another Sept. 11 approaching I wanted to talk to The Man Who Predicted 9/11.
Although the primary focus in Stewart's book is on Rescorla — a bona fide hero for his actions on 9/11 — I found Hill to be an even more fascinating character.
It was Hill who converted to Islam as a young U.S. Army paratrooper stationed in Beirut in 1958. It was Hill who learned fluent Arabic. It was Hill who joined the Mujahedeen Freedom Fighters in Afghanistan and fought the Soviet invasion there in the 1980s. It was Hill who personally met Osama bin Laden. It was Hill who used information from Islamic extremists to warn Rescorla that terrorists would use the underground parking garage for a car bomb attack on the World Trade Center. It was Hill who asked the U.S. government to assist him in an assassination attempt on bin Laden in 1998 (the request was rejected). And it was Hill who warned the FBI just weeks before Sept. 11, 2001, that his Mideast contacts told him "something big" was about to happen in the United States, in New York, Washington, D.C., or Philadelphia — maybe all three.
Through the Internet I managed to contact Hill at his home in Florida. He's 71 now. I asked him if his reputation as a terrorism prognosticator without parallel has changed his life much.
"Oh, that blew over pretty fast," he said. "Most of the people even in my hometown don't know any of that stuff."
He didn't want to talk about the past. He wanted to talk about the future.
The very near future.
The man who predicted 9/11 is worried that its sequel is imminent.
"Muslims that I talk to say things like, 'America thinks they're safe now. They've forgotten about 9/11. But watch, Daniel. Stay near your TV. It's going to be bigger than 9/11,' " he said.
Hill said the next terrorist attack will involve suitcase nuclear bombs that will be detonated in small, low-flying two-seater private airplanes manned by men hanging onto the belief that, like the 9/11 hijackers, they are about to die as martyrs and enter paradise.
He is not alone in suggesting such a scenario. A 2007 book, "The Day of Islam," spells out the details, as do any number of Internet sites about a plot called "American Hiroshima."
The nukes, he said, will be detonated over New York, Washington, D.C., Chicago, Miami, Houston, Las Vegas and Los Angeles.
I asked Hill, "Why now?"
"Eight years from 1993 to 2001, eight years from that 9/11 to this 9/11," he said. "Symbolism. They're big on symbolism."
"Ramadan started two weeks ago Saturday," he said, referring to the Muslim holy month of fasting. "It always hits around Ramadan."
Eight years ago, Hill predicted the attack would come on Oct. 16 — almost in the middle of that year's Ramadan (the timing of Ramadan varies from year to year). He was about a month off.
"I don't know the second, hour or day. I just know they have the means, will, motivation and desire to do it," he said, noting that it's believed that years ago the suitcase nukes, acquired from former USSR operatives, were smuggled into America across the Mexican border.
Hill said he has warned the FBI, the CIA and others in government. For the past two years, he's sent out proposals for a book on the subject. All he's gotten back are rejections.
"To most people, I am a deviant personality," he said.
But there's no arguing his credentials.
"I'm a Muslim," he says. "I'm a special ops expert, I'm a terrorist and I've lived among Muslims. I fought the Russians with the same guys we're now fighting in Afghanistan. I met Osama. I volunteered to assassinate him. I know (the enemy) so well because I've worked, slept and prayed alongside them for years. I've become one of them. I know their nature, I know their culture, I know how they think. I can quote the Koran like a Southern Baptist minister can quote the New Testament. I know these are people who do not tire, who do not quit. There are odds this won't happen, but they aren't big odds."
"I hope you're wrong," I told him.
"Yeah. I hope so, too," he said.
Lee Benson's column runs Monday, Wednesday, Friday and Sunday. Please send e-mail to benson@desnews.com.
© 2009 Deseret News Publishing Company | All rights reserved
http://www.deseretnews.com/article/print/705328180/Is-another-911-set-to-unfold.html
Is another 9/11 set to unfold?
By Lee Benson
Deseret News
Published: Saturday, Sept. 5, 2009 9:32 p.m. MDT
Earlier this year, quite by happenstance, I read a book written by Pulitzer Prize-winning reporter James B. Stewart.
"Heart of a Soldier" tells the story of two men who, well before it happened, foretold not only of the terrorist attack of 9/11 but also the 1993 bombing in the World Trade Center parking garage that preceded it.
One of the men, Rick Rescorla, was chief of security for Morgan Stanley with an office in the World Trade Center. He died on 9/11, but not before he shepherded all but six of Morgan Stanley's 2,700 employees to safety because of a well-prepared and well-executed evacuation plan. He'd have made it out, too, had he not gone back in the building looking for those six.
The other man, Daniel J. Hill, is still alive.
With another Sept. 11 approaching I wanted to talk to The Man Who Predicted 9/11.
Although the primary focus in Stewart's book is on Rescorla — a bona fide hero for his actions on 9/11 — I found Hill to be an even more fascinating character.
It was Hill who converted to Islam as a young U.S. Army paratrooper stationed in Beirut in 1958. It was Hill who learned fluent Arabic. It was Hill who joined the Mujahedeen Freedom Fighters in Afghanistan and fought the Soviet invasion there in the 1980s. It was Hill who personally met Osama bin Laden. It was Hill who used information from Islamic extremists to warn Rescorla that terrorists would use the underground parking garage for a car bomb attack on the World Trade Center. It was Hill who asked the U.S. government to assist him in an assassination attempt on bin Laden in 1998 (the request was rejected). And it was Hill who warned the FBI just weeks before Sept. 11, 2001, that his Mideast contacts told him "something big" was about to happen in the United States, in New York, Washington, D.C., or Philadelphia — maybe all three.
Through the Internet I managed to contact Hill at his home in Florida. He's 71 now. I asked him if his reputation as a terrorism prognosticator without parallel has changed his life much.
"Oh, that blew over pretty fast," he said. "Most of the people even in my hometown don't know any of that stuff."
He didn't want to talk about the past. He wanted to talk about the future.
The very near future.
The man who predicted 9/11 is worried that its sequel is imminent.
"Muslims that I talk to say things like, 'America thinks they're safe now. They've forgotten about 9/11. But watch, Daniel. Stay near your TV. It's going to be bigger than 9/11,' " he said.
Hill said the next terrorist attack will involve suitcase nuclear bombs that will be detonated in small, low-flying two-seater private airplanes manned by men hanging onto the belief that, like the 9/11 hijackers, they are about to die as martyrs and enter paradise.
He is not alone in suggesting such a scenario. A 2007 book, "The Day of Islam," spells out the details, as do any number of Internet sites about a plot called "American Hiroshima."
The nukes, he said, will be detonated over New York, Washington, D.C., Chicago, Miami, Houston, Las Vegas and Los Angeles.
I asked Hill, "Why now?"
"Eight years from 1993 to 2001, eight years from that 9/11 to this 9/11," he said. "Symbolism. They're big on symbolism."
"Ramadan started two weeks ago Saturday," he said, referring to the Muslim holy month of fasting. "It always hits around Ramadan."
Eight years ago, Hill predicted the attack would come on Oct. 16 — almost in the middle of that year's Ramadan (the timing of Ramadan varies from year to year). He was about a month off.
"I don't know the second, hour or day. I just know they have the means, will, motivation and desire to do it," he said, noting that it's believed that years ago the suitcase nukes, acquired from former USSR operatives, were smuggled into America across the Mexican border.
Hill said he has warned the FBI, the CIA and others in government. For the past two years, he's sent out proposals for a book on the subject. All he's gotten back are rejections.
"To most people, I am a deviant personality," he said.
But there's no arguing his credentials.
"I'm a Muslim," he says. "I'm a special ops expert, I'm a terrorist and I've lived among Muslims. I fought the Russians with the same guys we're now fighting in Afghanistan. I met Osama. I volunteered to assassinate him. I know (the enemy) so well because I've worked, slept and prayed alongside them for years. I've become one of them. I know their nature, I know their culture, I know how they think. I can quote the Koran like a Southern Baptist minister can quote the New Testament. I know these are people who do not tire, who do not quit. There are odds this won't happen, but they aren't big odds."
"I hope you're wrong," I told him.
"Yeah. I hope so, too," he said.
Lee Benson's column runs Monday, Wednesday, Friday and Sunday. Please send e-mail to benson@desnews.com.
© 2009 Deseret News Publishing Company | All rights reserved
Thursday, September 10, 2009
Economic Recovery In deed?
These are some pretty dismal headlines considering that CNN, Obama and Bernanke keep telling us we're in a "Recovery". Actually, I think the articles below represent the voice that they would love to silence. Unfortunately, it doesn't reach near enough people. There are some heavy-duty ones here. Take your time going through these.
Taxpayers face heavy losses on auto bailout
Clairvoyant economists still pessimistic
The boomers are out of time - and out of money
U.S. consumer credit falls by record amount
Death of the U.S. dollar?
OBAMA OPEN TO 'SODA TAX
Is Buffett worried about stocks?
Currency Crash Possible
Dollar's Fate Written In History
Dollar Falls to Lowest in Almost Year on Borrowing Costs
Wealthy Families Face Bankruptcy on Real Estate Crash
Lew Rockwell: The Great Fakeroo Recovery
Backlash Against Banks Growing over Mortgage Modifications
Study: 2 Out of 5 Working-Age Californians Jobless
Post Office Closures Threats Adds Woes to Property Market
Reality Excluded (The Mogambo Guru)
Taxpayers face heavy losses on auto bailout
Clairvoyant economists still pessimistic
The boomers are out of time - and out of money
U.S. consumer credit falls by record amount
Death of the U.S. dollar?
OBAMA OPEN TO 'SODA TAX
Is Buffett worried about stocks?
Currency Crash Possible
Dollar's Fate Written In History
Dollar Falls to Lowest in Almost Year on Borrowing Costs
Wealthy Families Face Bankruptcy on Real Estate Crash
Lew Rockwell: The Great Fakeroo Recovery
Backlash Against Banks Growing over Mortgage Modifications
Study: 2 Out of 5 Working-Age Californians Jobless
Post Office Closures Threats Adds Woes to Property Market
Reality Excluded (The Mogambo Guru)
Saturday, September 5, 2009
GANI FAWEHINMI PASSES ON AT 71
Fire-eating lawyer and Nigeria’s foremost human rights activist, Chief Ganiyu Oyesola Fawehinmi is dead. The news of the death of the Human Rights crusader hit the Nigerian nation early this morning.
Gani, who has been fighting a terminal illness over a period of time has championed human rights activities in Nigeria for decades and led the legal team in most of the nation’s celebrated cases. He was said to had died last night.
Ganiyu Oyesola Fawehinmi was born in April, 1938, he dedicated his whole life to the defence of human rights and condemnation of all ill government polices, fought the military junta with all that he had.
In 2003 he founded the National Conscience Party in 2003.
What people think of GANI
Joseph Contrears of Newsweek magazine, a leading magazine in the United States in an interview with Fawehinmi in the October 10, 1994 edition at page 56 of the magazine titled “No Freedom without a fight” said of him:
“Gani Fawehinmi is Nigeria’s best-known human-rights attorney. He is also a leader of the pro-democracy movement that is currently protesting the de facto state of emergency imposed by the military regime of Gen. Sani Abacha.”
Catriona Rogan writing in the Washington Times of Thursday, November 23, 1995 titled “Nigeria Outsider who will be Insider” wrote of Gani as follows under the caption “Fawehinmi challenges military in the street.”
“Nigeria’s “Steve Biko”, Chief Fawehinmi is a larger-than-life politician and lawyer with a track record of defending human rights activities, including the ethnic Ogoni, who have fought Shell oil which drills in their home land near the Niger River delta over environment issues”
James Brooke writing for the New York Times of Friday, October 28, 1988 under the heading “A Gleeful David to Face the Goliath that is Nigeria” describes Gani thus:
“Fawehinmi is taking a different strategy to hasten the return of democracy to Nigeria, Africa’s most populous nation. This year, he has emerged as a one-man movement battling Nigeria’s Military Government for more civil freedoms now.”
Education
Chief Gani who was called to the Nigerian Bar on the 15th of January, 1965 had his early education at Ansar-Ud-Deen Primary School, Iyemaja – Ondo from 1947 to 1953 and his secondary school education at Victory College Ikare, a Christian School from 1954 to 1958, under the leadership of the Late Rev. Akinrele.
On the 8th of December 1958, he was given a letter to his late father by the principal of the college, Rev. Akinrele. In it, the principal advised that Gani must be encouraged to study Law as a profession.
While in college, he his passionate interest in national, legal and political affairs earned him the name the “Nation”
On the 29th of April, 1961, he left the shores of Nigeria by Sea with M. V. Aureol Passenger Ship for the United Kingdom. He arrived Liverpool on the 12th of May, 1961. He travelled by train to London arriving Victoria Station in the evening of that day.
Gani the ‘Toilet Cleaner”
On arrival in England, Gani received the result of his General Certificate of Education (G.C.E) Advanced Level which he took shortly before he left Nigeria.
He then enrolled in the Holborn College of Law for the LLB degree of the University of London (External) in September 1961. He was in part II of the three year degree programme when his father died on February 5, 1963 and the source of his finance dried up.
All efforts to secure financial help failed. He was forced by financial circumstance to drop out of the Holborn College as a full time student.
He then took a full time job as a Toilet Cleaner in Russell Square Hotel in Southampton Row, London. He did other cleaning jobs which included working as a sweeper in the old Gatwick Airport between February 1963 and August 1964.
He literally taught himself Law for parts II and III of the LLB degree course and sat for and passed all his examinations. He came back to Nigeria in early September 1964
On his arrival in Lagos, he enrolled in the Nigerian Law School at No. 213A, Igbosere Road, Lagos for the compulsory three months course which he successfully completed.
Gani’s wives & children
Gani is married to Mrs. Ganiat Ibukun Fawehinmi, nee Orebela a native of Ago-Iwoye in Ijebu, in Ogun State. She has eight (8) children for him. Gani has another wife, Mrs. Abike Fawehinmi, nee Ikuomuyilo, from Ondo. She has six (6) children for him.
Pull from: Nigerian Vanguard
Gani, who has been fighting a terminal illness over a period of time has championed human rights activities in Nigeria for decades and led the legal team in most of the nation’s celebrated cases. He was said to had died last night.
Ganiyu Oyesola Fawehinmi was born in April, 1938, he dedicated his whole life to the defence of human rights and condemnation of all ill government polices, fought the military junta with all that he had.
In 2003 he founded the National Conscience Party in 2003.
What people think of GANI
Joseph Contrears of Newsweek magazine, a leading magazine in the United States in an interview with Fawehinmi in the October 10, 1994 edition at page 56 of the magazine titled “No Freedom without a fight” said of him:
“Gani Fawehinmi is Nigeria’s best-known human-rights attorney. He is also a leader of the pro-democracy movement that is currently protesting the de facto state of emergency imposed by the military regime of Gen. Sani Abacha.”
Catriona Rogan writing in the Washington Times of Thursday, November 23, 1995 titled “Nigeria Outsider who will be Insider” wrote of Gani as follows under the caption “Fawehinmi challenges military in the street.”
“Nigeria’s “Steve Biko”, Chief Fawehinmi is a larger-than-life politician and lawyer with a track record of defending human rights activities, including the ethnic Ogoni, who have fought Shell oil which drills in their home land near the Niger River delta over environment issues”
James Brooke writing for the New York Times of Friday, October 28, 1988 under the heading “A Gleeful David to Face the Goliath that is Nigeria” describes Gani thus:
“Fawehinmi is taking a different strategy to hasten the return of democracy to Nigeria, Africa’s most populous nation. This year, he has emerged as a one-man movement battling Nigeria’s Military Government for more civil freedoms now.”
Education
Chief Gani who was called to the Nigerian Bar on the 15th of January, 1965 had his early education at Ansar-Ud-Deen Primary School, Iyemaja – Ondo from 1947 to 1953 and his secondary school education at Victory College Ikare, a Christian School from 1954 to 1958, under the leadership of the Late Rev. Akinrele.
On the 8th of December 1958, he was given a letter to his late father by the principal of the college, Rev. Akinrele. In it, the principal advised that Gani must be encouraged to study Law as a profession.
While in college, he his passionate interest in national, legal and political affairs earned him the name the “Nation”
On the 29th of April, 1961, he left the shores of Nigeria by Sea with M. V. Aureol Passenger Ship for the United Kingdom. He arrived Liverpool on the 12th of May, 1961. He travelled by train to London arriving Victoria Station in the evening of that day.
Gani the ‘Toilet Cleaner”
On arrival in England, Gani received the result of his General Certificate of Education (G.C.E) Advanced Level which he took shortly before he left Nigeria.
He then enrolled in the Holborn College of Law for the LLB degree of the University of London (External) in September 1961. He was in part II of the three year degree programme when his father died on February 5, 1963 and the source of his finance dried up.
All efforts to secure financial help failed. He was forced by financial circumstance to drop out of the Holborn College as a full time student.
He then took a full time job as a Toilet Cleaner in Russell Square Hotel in Southampton Row, London. He did other cleaning jobs which included working as a sweeper in the old Gatwick Airport between February 1963 and August 1964.
He literally taught himself Law for parts II and III of the LLB degree course and sat for and passed all his examinations. He came back to Nigeria in early September 1964
On his arrival in Lagos, he enrolled in the Nigerian Law School at No. 213A, Igbosere Road, Lagos for the compulsory three months course which he successfully completed.
Gani’s wives & children
Gani is married to Mrs. Ganiat Ibukun Fawehinmi, nee Orebela a native of Ago-Iwoye in Ijebu, in Ogun State. She has eight (8) children for him. Gani has another wife, Mrs. Abike Fawehinmi, nee Ikuomuyilo, from Ondo. She has six (6) children for him.
Pull from: Nigerian Vanguard
Friday, September 4, 2009
Interpreting the Headlines
When the world starts turning to gold, it's a sign that the economy is worsening, and the US dollar is weakening. This is why the bankers and Feds have been artificially holding the price of gold down for the last year. If you have billions of dollars to shift around, it can be done. They know that society uses it as a health-o-meter for the economy. Just knowing this, a glance at these headlines should be very revealing.
Gold Increases 2.3% as Greenback Drops
Investors Rush into Gold Like 1849
China Pushes Silver and Gold Investment to the Masses
Hong Kong Recalls Gold Reserves, Touts High-Security Vault
Retailers Report Sales Decline for August
More Americans than Anticipated File Jobless Claims
Sugar May Drop 24% as Demand Stalls, Supply Grows - When supply outstrips demand or vice versa, it leads to a lack of supply in the future, that leads to price increases driven by increase in demand. Notice that there was a huge rush for people to buy guns and ammo. Prices went up, but now that the market is saturated and manufacturers have caught up, demand is down and prices are coming down. If you understand the cycles, you can predict them. The hard part is that people are trying to predict a complete stoppage of these products that will come as a result of the dollar collapsing and American buying power being cut in half.
Edinburgh Hedge Fund Feel Madoff Effect as Clients Get Pickier
HSBC Says Switzerland Luring More Rich Foreigners as Taxes Rise - The rich are leaving the US and looking for safer places to put their money.
The $531 Trillion Dollar Derivatives Time Bomb - another "Sword of Damocles" hanging over our head - that the media won't bother to explain to the public.
The Nightmare of Contemplating Global Derivatives
Fed Secretive for Good Reason - A lot of pockets have been lined haven't they?
The Secret That Will Destroy the World's Financial System - If you tell who got the $1.5 tril, you're gonna destroy the world financial system.
"We Spent $13 Trillion And These Banks Are STILL IN THE CR***ER!"
Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information
America's Breadbasket Drying Up
Gold Increases 2.3% as Greenback Drops
Investors Rush into Gold Like 1849
China Pushes Silver and Gold Investment to the Masses
Hong Kong Recalls Gold Reserves, Touts High-Security Vault
Retailers Report Sales Decline for August
More Americans than Anticipated File Jobless Claims
Sugar May Drop 24% as Demand Stalls, Supply Grows - When supply outstrips demand or vice versa, it leads to a lack of supply in the future, that leads to price increases driven by increase in demand. Notice that there was a huge rush for people to buy guns and ammo. Prices went up, but now that the market is saturated and manufacturers have caught up, demand is down and prices are coming down. If you understand the cycles, you can predict them. The hard part is that people are trying to predict a complete stoppage of these products that will come as a result of the dollar collapsing and American buying power being cut in half.
Edinburgh Hedge Fund Feel Madoff Effect as Clients Get Pickier
HSBC Says Switzerland Luring More Rich Foreigners as Taxes Rise - The rich are leaving the US and looking for safer places to put their money.
The $531 Trillion Dollar Derivatives Time Bomb - another "Sword of Damocles" hanging over our head - that the media won't bother to explain to the public.
The Nightmare of Contemplating Global Derivatives
Fed Secretive for Good Reason - A lot of pockets have been lined haven't they?
The Secret That Will Destroy the World's Financial System - If you tell who got the $1.5 tril, you're gonna destroy the world financial system.
"We Spent $13 Trillion And These Banks Are STILL IN THE CR***ER!"
Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information
America's Breadbasket Drying Up
Wednesday, September 2, 2009
Get Ready for the Worst
Preppers' get ready for the worst; Movement to stockpile for emergency at all-time high
The Farmer's Almanac's Frigid 2010 Forecast. Have you cut and stacked plenty of firewood? Can you survive if the power goes out? A Red Cross volunteer who worked the Kentucky Ice Storm said that anyone with a wood burning stove did just fine.
Quote: "This may be one of the most important pieces of economic news in many months, yet is did not receive much mainstream news coverage when the wire story was circulated yesterday: Beijing's derivative default stance rattles market. The implications of state-owned Chinese industries being given carte blanche to nullify derivatives contracts are enormous."
China Asserts Right to "walk away from bad derivatives contracts"
US Cities Brace for Prolonged Bout of Declining Tax Revenues
Unemployment Worst Since Great Depression
Wall Street Stealth Lobby Defends $35 Billion Derivatives Haul
Lefrak: Commercial Real Estate Will Kill 500 Small Banks
Cerberus clients overwhelmingly want out: report
Blackout Britain warning as Government predicts severe power shortages within a year
***2.9 Million College Students Unsure of Career Plans***
START WORKING ON BASIC SKILLS
Boost Your Map Skills for when GPS Fails You
Get to Know Your Edible Berries with a Simple Mnemonic
The Farmer's Almanac's Frigid 2010 Forecast. Have you cut and stacked plenty of firewood? Can you survive if the power goes out? A Red Cross volunteer who worked the Kentucky Ice Storm said that anyone with a wood burning stove did just fine.
Quote: "This may be one of the most important pieces of economic news in many months, yet is did not receive much mainstream news coverage when the wire story was circulated yesterday: Beijing's derivative default stance rattles market. The implications of state-owned Chinese industries being given carte blanche to nullify derivatives contracts are enormous."
China Asserts Right to "walk away from bad derivatives contracts"
US Cities Brace for Prolonged Bout of Declining Tax Revenues
Unemployment Worst Since Great Depression
Wall Street Stealth Lobby Defends $35 Billion Derivatives Haul
Lefrak: Commercial Real Estate Will Kill 500 Small Banks
Cerberus clients overwhelmingly want out: report
Blackout Britain warning as Government predicts severe power shortages within a year
***2.9 Million College Students Unsure of Career Plans***
START WORKING ON BASIC SKILLS
Boost Your Map Skills for when GPS Fails You
Get to Know Your Edible Berries with a Simple Mnemonic
Monday, August 31, 2009
The Collapse of America? The Dire Message of Mr. David Walker
DAVID WALKER: WHY HIS OPINION COUNTS -- Walker served as Comptroller General of the United States and head of the Government Accountability Office (GAO) from 1998 to 2008. Appointed by President Bill Clinton, his tenure as the federal government's chief auditor spanned both Democratic and Republican administrations. While at the GAO, Walker embarked on a Fiscal Wake-up Tour, partnering with the Brookings Institution, the World Future Society, and the Heritage Foundation to alert Americans to wasteful government spending. Walker left the GAO to head the Peterson Foundation on March 12, 2008. Walker has compared the present-day United States with the Roman Empire in its decline, saying the U.S. government is on a "burning platform" of unsustainable policies and practices with fiscal deficits, expensive overcommitments to government provided health care, swelling Medicare costs, the enormous expense of a prospective universal health care system, immigration, and overseas military commitments threatening a crisis if action is not taken soon.
AT LEAST READ THIS ONE!
The Collapse of America? The Dire Message of Mr. David Walker
Detroit sets record for unemployment--28.9% - Don't worry. The government will make sure your money takes care of them.
Arnold Holds Great California Garage Sale To Help Economy
How Goldman Sach's Problems are Hurting You
US Economy: Spending Climbed in July Due to Clunkers Program
Japanese Economy Hit by "Double Nightmare"
Bankers' Excesses...At Our Collective Expense
Tsunami of Broke and Desperate Americans
Fed urges secrecy on banks in bailout programs - The truth will hurt the economy.
Japan Unemployment Hits Record High
US Prisoners Get Cash To 'Boost Economy' - Their brilliance knows no end.
Summer 'Recovery' Will Turn to Cold, Long Winter
Investment Crash Points to Economic Pain
UK Financial Watchdog Backs World Transaction Tax
Can The Financial Soufflé Rise Again?
UK Sleepwalking Toward Decade of Economic Misery
Germany to Lend Directly as Second Credit Dive Looms
AT LEAST READ THIS ONE!
The Collapse of America? The Dire Message of Mr. David Walker
Detroit sets record for unemployment--28.9% - Don't worry. The government will make sure your money takes care of them.
Arnold Holds Great California Garage Sale To Help Economy
How Goldman Sach's Problems are Hurting You
US Economy: Spending Climbed in July Due to Clunkers Program
Japanese Economy Hit by "Double Nightmare"
Bankers' Excesses...At Our Collective Expense
Tsunami of Broke and Desperate Americans
Fed urges secrecy on banks in bailout programs - The truth will hurt the economy.
Japan Unemployment Hits Record High
US Prisoners Get Cash To 'Boost Economy' - Their brilliance knows no end.
Summer 'Recovery' Will Turn to Cold, Long Winter
Investment Crash Points to Economic Pain
UK Financial Watchdog Backs World Transaction Tax
Can The Financial Soufflé Rise Again?
UK Sleepwalking Toward Decade of Economic Misery
Germany to Lend Directly as Second Credit Dive Looms
Thursday, August 27, 2009
FED To Steal State Pension Funds
Fed to Steal State Pension Funds? If this doesn't give you an idea of just how desperate times are...
By the way, to answer a question: Putting your money in gold and silver is about "protecting your assets", not making a profit. You should see profit as just an added benefit. When an economy collapses and its currency drops in value, it takes more of that currency to buy gold, and initially that gold will buy a lot more stuff because the prices of items haven't caught up with the reality of the situation. Eventually however, the price of every necessary item increases (inflation), and ultimately tries to catch back up with gold and silver, putting gold right back at the same place it was before - in purchasing power. One other huge benefit though, is when currency has NO buying power at all, gold and silver have all of the buying power.
Most sound advisors recommend that you have at least 20% of your investments in gold. Gerald Celente says he has 80% of his in gold at the moment.
Fed to Steal State Pension Funds - You think the average person would have predicted this? Heck, most of them won't be aware of it after-the-fact.
Celente: 2.5 Million Jobs Lost Since Obama's Presidency - as the government reports it. He's being careful.
The Travails of Small Business Dooms the Economy
So Long, California
Pens and Notebooks Put on Layaway - People just don't have money.
The Dollar: Soon to Swoon? - You think Bernanke lays awake at night thinking about this?
Feds, 10 States Join to Fight Mortgage Fraud
Pyongyang's Booming Trade in Fake US Currency A fascinating article.
Without prospects, they’re prospectors: Metal’s high price and economy’s low ebb create new California gold rush
Cash for Clunkers: Dumbest Program Ever?
Even Warren Buffett Is Now Saying Bonds Could Crack
Bullish Stampede Persists - In a market kept afloat by mere faith in the government.
Here's a pretty good website to keep up with: http://urbansurvival.com/week.htm
By the way, to answer a question: Putting your money in gold and silver is about "protecting your assets", not making a profit. You should see profit as just an added benefit. When an economy collapses and its currency drops in value, it takes more of that currency to buy gold, and initially that gold will buy a lot more stuff because the prices of items haven't caught up with the reality of the situation. Eventually however, the price of every necessary item increases (inflation), and ultimately tries to catch back up with gold and silver, putting gold right back at the same place it was before - in purchasing power. One other huge benefit though, is when currency has NO buying power at all, gold and silver have all of the buying power.
Most sound advisors recommend that you have at least 20% of your investments in gold. Gerald Celente says he has 80% of his in gold at the moment.
Fed to Steal State Pension Funds - You think the average person would have predicted this? Heck, most of them won't be aware of it after-the-fact.
Celente: 2.5 Million Jobs Lost Since Obama's Presidency - as the government reports it. He's being careful.
The Travails of Small Business Dooms the Economy
So Long, California
Pens and Notebooks Put on Layaway - People just don't have money.
The Dollar: Soon to Swoon? - You think Bernanke lays awake at night thinking about this?
Feds, 10 States Join to Fight Mortgage Fraud
Pyongyang's Booming Trade in Fake US Currency A fascinating article.
Without prospects, they’re prospectors: Metal’s high price and economy’s low ebb create new California gold rush
Cash for Clunkers: Dumbest Program Ever?
Even Warren Buffett Is Now Saying Bonds Could Crack
Bullish Stampede Persists - In a market kept afloat by mere faith in the government.
Here's a pretty good website to keep up with: http://urbansurvival.com/week.htm
Tuesday, August 25, 2009
What are You Expecting?
Sooner or later, you'd think "they" would figure out that they'd better tell us what's coming, kind of like people are told to tape up their windows and fill their bath-tubs with water before a hurricane hits. But keep in mind also, that before Hurricane Katrina hit, only a few experts said to evacuate New Orleans, and that was literally at the last minute causing massive traffic jams a hundred miles long. The earliest to sound the alarm were the weathermen - saying, "GET OUT!!! " 3 days before it hit. If you recall, FEMA didn't really get on board until a few days after it was a full blown disaster. So don't wait on the Feds to tell you to get ready for an economic disaster. If history serves as a guide, they will do so with a bullhorn from a pile of rubble, with their sleeves rolled up and their ties loosened as if they're actually going to do some work. Lying is part of the job.
Preparing for the Worst - Robert Kiyosaki - "I believe the stock market is being manipulated. I suspect the government, banks, and Wall Street are doing everything they can to keep the market from crashing. Our leaders know that nothing makes the world feel better than a raging bull market." (In other words, they aren't allowing the "bad" to get worked out of the free market system, which in turn sets us up for a worse fall in the future.)
Krugman: Economy in Purgatory: “Anybody who says that we are out of the woods or even moving out of the woods has got to be lost at sea,“ Robert Reich, former Secretary of Labor, said on ABC’s This Week. “I mean, there’s no evidence that this economy is doing much better. The best that can be said is we’re getting worse more slowly. And that is small consolation to people who are losing their jobs.”
Tsunami of Home Foreclosures to hit U.S.
Court Orders Federal Reserve to Disclose Emergency Loan Details (It's about time!)
Slums of Suburbia Sorting through the rubble of California's foreclosure tsunami.
White House, Congress project record deficits; Both see the overall national debt nearly doubling over the next decade
Senator warns of hyperinflation rivaling the 1980s
Rhode Island governor to shut down state government for 12 days
Labor Leader Named Head of New York Fed - Oh good, a Union Boss is in charge of a Federal Bank. (!?!?)
Oil Falls 4% After Hitting 10-Month Peak of $75
Latest in Stimulus: Cash for Refrigerators
Brookings "Experts" Admit Stimulus a Bust
Federal Reserve Paying Interest on Excess Reserves, Why Lend When You Can Earn Interest For Holding on to Funds With Low Risk
CBO Warns of Higher Unemployment; DC Worries About the Deficit
Basket Cases (The Mogambo Guru)
Gross National Debt to Top $12 Trillion
Craig Harrington | 08/25/09
With the gross national debt expected to top $12 trillion in the next two weeks, America can ill-afford to accumulate the additional $9 trillion the White House predicts over the next 10 years.
10-Year Deficit: $9 Trillion and Rising
Dustin Ensinger | 08/25/09
The Obama administration raised its 10-year debt projections estimating that the federal government will need to borrow $9 trillion over the next decade.
Preparing for the Worst - Robert Kiyosaki - "I believe the stock market is being manipulated. I suspect the government, banks, and Wall Street are doing everything they can to keep the market from crashing. Our leaders know that nothing makes the world feel better than a raging bull market." (In other words, they aren't allowing the "bad" to get worked out of the free market system, which in turn sets us up for a worse fall in the future.)
Krugman: Economy in Purgatory: “Anybody who says that we are out of the woods or even moving out of the woods has got to be lost at sea,“ Robert Reich, former Secretary of Labor, said on ABC’s This Week. “I mean, there’s no evidence that this economy is doing much better. The best that can be said is we’re getting worse more slowly. And that is small consolation to people who are losing their jobs.”
Tsunami of Home Foreclosures to hit U.S.
Court Orders Federal Reserve to Disclose Emergency Loan Details (It's about time!)
Slums of Suburbia Sorting through the rubble of California's foreclosure tsunami.
White House, Congress project record deficits; Both see the overall national debt nearly doubling over the next decade
Senator warns of hyperinflation rivaling the 1980s
Rhode Island governor to shut down state government for 12 days
Labor Leader Named Head of New York Fed - Oh good, a Union Boss is in charge of a Federal Bank. (!?!?)
Oil Falls 4% After Hitting 10-Month Peak of $75
Latest in Stimulus: Cash for Refrigerators
Brookings "Experts" Admit Stimulus a Bust
Federal Reserve Paying Interest on Excess Reserves, Why Lend When You Can Earn Interest For Holding on to Funds With Low Risk
CBO Warns of Higher Unemployment; DC Worries About the Deficit
Basket Cases (The Mogambo Guru)
Gross National Debt to Top $12 Trillion
Craig Harrington | 08/25/09
With the gross national debt expected to top $12 trillion in the next two weeks, America can ill-afford to accumulate the additional $9 trillion the White House predicts over the next 10 years.
10-Year Deficit: $9 Trillion and Rising
Dustin Ensinger | 08/25/09
The Obama administration raised its 10-year debt projections estimating that the federal government will need to borrow $9 trillion over the next decade.
Monday, August 24, 2009
Swiss Bank Secret
At this point, are you really surprised that there's still so much bad news?
Cash for Clunkers to end on Monday - "Kill it - kill it - it wasn't supposed to be this way!" LOL
Germany braces for second wave of credit crunch - Someone just told me the other day, "But Germany has recovered...."
The Week in Charts, Buckle the Heck Up!
U.K. Has Record July Deficit as Recession Curbs Taxes
U.S. Initial Jobless Claims Rose by 15,000 to 576,000
FDIC May Add to Special Fees as Mounting Failures Drain Reserves
Swiss to reveal UBS accounts to settle U.S. tax battle "Switzerland has agreed to reveal the names of about 4,450 wealthy American clients of UBS AG to U.S. authorities in a tax dispute settlement that pierces Swiss banking secrecy and now threatens to spill over to other banks."
Citigroup To Initiate Fees on Some Cards To Reduce The Dent To Their Income
Buffett: We'll Be Crushed Under a Mountain of Debt - Yeah, this is what Peter Schiff has been saying since 2005.
Debt Revolt Haunting Europe
NY Car Dealers Pulling Out of Clunkers Program
Stocks Creep Higher Amid Economic Worries
Sears Shares Drop as Recession Drags Down Sales
Pension Plans' Private-Equity Cash Depleted as Profits Shrink
Insurers' Biggest Write-Downs May Be Yet to Come - This is always a phrase you want to pay attention to: "may be yet to come". It never means anything good.
Cash for Clunkers to end on Monday - "Kill it - kill it - it wasn't supposed to be this way!" LOL
Germany braces for second wave of credit crunch - Someone just told me the other day, "But Germany has recovered...."
The Week in Charts, Buckle the Heck Up!
U.K. Has Record July Deficit as Recession Curbs Taxes
U.S. Initial Jobless Claims Rose by 15,000 to 576,000
FDIC May Add to Special Fees as Mounting Failures Drain Reserves
Swiss to reveal UBS accounts to settle U.S. tax battle "Switzerland has agreed to reveal the names of about 4,450 wealthy American clients of UBS AG to U.S. authorities in a tax dispute settlement that pierces Swiss banking secrecy and now threatens to spill over to other banks."
Citigroup To Initiate Fees on Some Cards To Reduce The Dent To Their Income
Buffett: We'll Be Crushed Under a Mountain of Debt - Yeah, this is what Peter Schiff has been saying since 2005.
Debt Revolt Haunting Europe
NY Car Dealers Pulling Out of Clunkers Program
Stocks Creep Higher Amid Economic Worries
Sears Shares Drop as Recession Drags Down Sales
Pension Plans' Private-Equity Cash Depleted as Profits Shrink
Insurers' Biggest Write-Downs May Be Yet to Come - This is always a phrase you want to pay attention to: "may be yet to come". It never means anything good.
Influential American
Buffett: We're Going to Be Crushed Under Mountain of Debt
Posted Aug 19, 2009 11:51am EDT by Henry Blodget
A highly influential American has finally hit the panic button about the tremendous mountain of debt the country is piling up.
Last year, Warren Buffett says, we were justified in using any means necessary to stave off another Great Depression. Now that the economy is beginning to recover, however, we need to curtail our out-of-control spending, or we'll destroy the value of the dollar and many Americans' life savings.
Some not-so-fun facts from Buffett's editorial today in the New York Times:
Congress is now spending 185% of what it takes in
Our deficit is a post WWII record of 13% of GDP
Our debt is growing by 1% a month
We are borrowing $1.8 trillion a year
$1.8 trillion is a lot of money. Even if the Chinese lend us $400 billion a year and Americans save a remarkable $500 billion and lend it to the government, we'll still need another $900 billion.
So, where's it going to come from? Most likely the printing press. And, ultimately, Buffett says, that will destroy the value of the dollar.
Posted Aug 19, 2009 11:51am EDT by Henry Blodget
A highly influential American has finally hit the panic button about the tremendous mountain of debt the country is piling up.
Last year, Warren Buffett says, we were justified in using any means necessary to stave off another Great Depression. Now that the economy is beginning to recover, however, we need to curtail our out-of-control spending, or we'll destroy the value of the dollar and many Americans' life savings.
Some not-so-fun facts from Buffett's editorial today in the New York Times:
Congress is now spending 185% of what it takes in
Our deficit is a post WWII record of 13% of GDP
Our debt is growing by 1% a month
We are borrowing $1.8 trillion a year
$1.8 trillion is a lot of money. Even if the Chinese lend us $400 billion a year and Americans save a remarkable $500 billion and lend it to the government, we'll still need another $900 billion.
So, where's it going to come from? Most likely the printing press. And, ultimately, Buffett says, that will destroy the value of the dollar.
How to Choose an Economic Prophet
Track Record: Basically, what I've spent the last year (5 hours a day) doing is going back and looking at individual track records for predicting economic trends. The best macro-economic prophets are: Schiff, Celente, Rogers, Faber, Ron Paul and a couple of other lesser known names. It's also prudent to listen to economists and heads of State outside of the US, since their observations are not swayed by US public opinion and reaction. [Listen to a dozen or more, and take the consensus of what they predict.] Schiff and Celente are at the top in my book. Short term rises and dips are anyone's guess, and most people get it wrong, so we can't depend on those predictions. But if Schiff says stocks will crater, then you need to listen. DO NOT listen to Jim Cramer. Everything that he knows about the Stock Market only works in a 90's economy. Since we are in uncharted territory, its best to listen to people who understand the macro-economic situation, and make long term moves based on their outlook.
Peter Schiff: Hyperinflation Risk High, Stocks Will Crater - Print this one and stick it on your refrigerator. We can't have people claiming they weren't warned.
L.A. ranks near bottom among big cities for finding a job, website says - How fitting. All counties and the State went to Obama.
The Next Crisis in the Making - "... if governments keep throwing trillions down these rat holes, we’ll end up with a financial and economic catastrophe much larger than the current one."
FDIC Sees Ag Banks as Next Crisis - Farmers will have a much harder time get credit necessary to run a farm. That means less food available. Plant a garden, learn to can, and stock up.
Stock Market Still a Chump's Game
Bernanke Says US Economy on Cusp of Recovery. - What he says means NOTHING. If you look back over his history, he always says things are going to get better, and utterly failed to predict this crisis in the first place.Don't read the article. Watch the videos.
Brown Shoots: US Mortgage Delinquencies Hit Record High
A rush for black gold in the Gulf - Every country except the USA will be drilling in the Gulf of Mexico thanks to Obama's no offshore drilling policy. Now WHAT could possibly motivate him to make a decision like that, ...........except maybe......he's trying to put this country into economic turmoil? The logical thing to do to help the economy long-term would be to allow offshore drilling. It makes no sense to cut off the supply until you have other energy sources in place
Peter Schiff: Hyperinflation Risk High, Stocks Will Crater - Print this one and stick it on your refrigerator. We can't have people claiming they weren't warned.
L.A. ranks near bottom among big cities for finding a job, website says - How fitting. All counties and the State went to Obama.
The Next Crisis in the Making - "... if governments keep throwing trillions down these rat holes, we’ll end up with a financial and economic catastrophe much larger than the current one."
FDIC Sees Ag Banks as Next Crisis - Farmers will have a much harder time get credit necessary to run a farm. That means less food available. Plant a garden, learn to can, and stock up.
Stock Market Still a Chump's Game
Bernanke Says US Economy on Cusp of Recovery. - What he says means NOTHING. If you look back over his history, he always says things are going to get better, and utterly failed to predict this crisis in the first place.Don't read the article. Watch the videos.
Brown Shoots: US Mortgage Delinquencies Hit Record High
A rush for black gold in the Gulf - Every country except the USA will be drilling in the Gulf of Mexico thanks to Obama's no offshore drilling policy. Now WHAT could possibly motivate him to make a decision like that, ...........except maybe......he's trying to put this country into economic turmoil? The logical thing to do to help the economy long-term would be to allow offshore drilling. It makes no sense to cut off the supply until you have other energy sources in place
The Road to Ruin
Watching the economy fall apart is kind of like watching a glacier melt. It's not an overnight process to say the least.
However, with certainty, it will continue to melt.
AP source: White House projects lower deficit. Another case of “The deficit is growing slower than we originally thought.” They fail to point out its still growing exponentially. They “saved” $250 billion but we will be $2 trillion in the hole by year’s end. And that's 66% of what the entire deficit was when Bush became president!
Marc Faber "in China there is an investment bubble ...the total collapse is ahead of us and probably a world scale war..." - While perhaps the "world war" prediction is a bit extreme, you can't ignore the fundamentals that lead to Faber making this prediction.
Obama to raise 10-year deficit to $9 trillion. The bailouts just won't quit growing.
Stiglitz: Dollar Reserve System Falling Apart
Iceland: What Ugly Secrets Await Being Revealed in the Meltdown
The Consumer Has Dug in His Heels
Frustrations Rising Over Mortgage Relief
More Shoppers Getting Cold Feet in Checkout Line
Global credit quality continues slide, Fitch says – Reuters
Watch out below – CaseyResearch
Fiscal Ruin – Ambrose Evans-Pritchard - "The imperative for the debt-bloated West is to cut spending systematically for year after year, off-setting the deflationary effect with monetary stimulus. This is the only mix that can save us. My awful fear is that we will do exactly the opposite, incubating yet another crisis this autumn, to which we will respond with yet further spending. This is the road to ruin. "
Southern Georgia, US, Schools Swine Flu Outbreak
Can you read between the lines in this following sentence: "Thus, the policy of keeping schools open, and using fever as one of the key symptoms, may lead to extensive spread by patients who have low or no fever. Moreover, most of the students have mild illnesses, so they are not tested, which may allow important genetic changes to silently spread."
What it says is - the swine flu isn't the pandemic we thought it would be, but we want to keep the hysteria going. If this flu is going to get bad, it will be in the Fall and Winter months. But copious secretions and respiratory complications don't seem to be a major factor at this point. Remember how big of a deal they made of SARS? Well, only 70 people died worldwide. We lose twice that many every day in the US from auto accidents. Just recently a 15 year old girl died on a flight from the US to Brazil. The mighty eye of the media descended on that case. Do you have any idea how many people drop dead globally every minute!? That's a very misleading way of observing a potential pandemic. The data set must be HUGE to give a real overview of what we're dealing with. Not n = ~1. (sample size of one)
I don't blame them for being jumpy. A true pandemic with just the right properties could kill a billion people and wipe out a tremendous amount of medical resources. But I don't think this is it. We will continue to observe.
--------------------------------end transmission
However, with certainty, it will continue to melt.
AP source: White House projects lower deficit. Another case of “The deficit is growing slower than we originally thought.” They fail to point out its still growing exponentially. They “saved” $250 billion but we will be $2 trillion in the hole by year’s end. And that's 66% of what the entire deficit was when Bush became president!
Marc Faber "in China there is an investment bubble ...the total collapse is ahead of us and probably a world scale war..." - While perhaps the "world war" prediction is a bit extreme, you can't ignore the fundamentals that lead to Faber making this prediction.
Obama to raise 10-year deficit to $9 trillion. The bailouts just won't quit growing.
Stiglitz: Dollar Reserve System Falling Apart
Iceland: What Ugly Secrets Await Being Revealed in the Meltdown
The Consumer Has Dug in His Heels
Frustrations Rising Over Mortgage Relief
More Shoppers Getting Cold Feet in Checkout Line
Global credit quality continues slide, Fitch says – Reuters
Watch out below – CaseyResearch
Fiscal Ruin – Ambrose Evans-Pritchard - "The imperative for the debt-bloated West is to cut spending systematically for year after year, off-setting the deflationary effect with monetary stimulus. This is the only mix that can save us. My awful fear is that we will do exactly the opposite, incubating yet another crisis this autumn, to which we will respond with yet further spending. This is the road to ruin. "
Southern Georgia, US, Schools Swine Flu Outbreak
Can you read between the lines in this following sentence: "Thus, the policy of keeping schools open, and using fever as one of the key symptoms, may lead to extensive spread by patients who have low or no fever. Moreover, most of the students have mild illnesses, so they are not tested, which may allow important genetic changes to silently spread."
What it says is - the swine flu isn't the pandemic we thought it would be, but we want to keep the hysteria going. If this flu is going to get bad, it will be in the Fall and Winter months. But copious secretions and respiratory complications don't seem to be a major factor at this point. Remember how big of a deal they made of SARS? Well, only 70 people died worldwide. We lose twice that many every day in the US from auto accidents. Just recently a 15 year old girl died on a flight from the US to Brazil. The mighty eye of the media descended on that case. Do you have any idea how many people drop dead globally every minute!? That's a very misleading way of observing a potential pandemic. The data set must be HUGE to give a real overview of what we're dealing with. Not n = ~1. (sample size of one)
I don't blame them for being jumpy. A true pandemic with just the right properties could kill a billion people and wipe out a tremendous amount of medical resources. But I don't think this is it. We will continue to observe.
--------------------------------end transmission
Days Away from Economic Chaos
Rumors of a "Bank Holiday" are picking up. If it were ONLY fear of such a thing driving the rumors, I wouldn't be concerned. In particular, you want to keep your eye on "Potential Trigger Events". In this case, one occurs on August 25th. Maybe America's notorious apathy will once again reign supreme and nothing will happen. But it wouldn't hurt to stand close to an exit.
The Mother of all Bank Runs - "
Days Away From Economic Chaos?
by Bill Sardi
America is just a few days away from a possible day of reckoning. I again call attention to this day, August 25, when the Federal Deposit Insurance Corporation issues its 2nd Quarter report for 2009 on the state of health of American banks.
It has not particularly alarmed Americans that its growth and prosperity have been built upon debt. The American public is a bit desensitized, particularly since the Y2K threat fizzled. We must wait and see how Americans respond to the upcoming FDIC report.
The following charts tell the story. There are roughly 8400 American banks that set aside a small portion of their profits to aggregately insure bank depositors should their local bank fail. A plethora of bank failures has depleted the FDIC reserve fund from $52.8 billion in 2008 to $13 billion in the 1st Quarter of 2009. (Click on the link "Mother of All Bank Runs" to see the whole article.)
===================================================
Uh Oh. ... Trouble Dead Ahead - ".....foreigners are rejecting virtually all forms of US debt, most specifically corporate and agency (mortgages.)....... What we're now seeing is outright rejection - it began slowly, but as it has become clear that The Fed was hellbent and determined to go to the wall, consequences be damned, that trickle of rejection has turned into a veritable flood."
==========================================================
A few other interesting, but now seemingly trivial articles:
Seller, beware: Feds cracking down on garage sales
US Helps Spanish Company Buy Failured Texas Bank by Putting $9.7 Billion Loss on Taxpayers
Workplace Suicides Surge by 28%
Folks are stealing hay in Texas - Signs of the times are popping up all over. It's the collection of events like this that make up the big picture.
The Mother of all Bank Runs - "
Days Away From Economic Chaos?
by Bill Sardi
America is just a few days away from a possible day of reckoning. I again call attention to this day, August 25, when the Federal Deposit Insurance Corporation issues its 2nd Quarter report for 2009 on the state of health of American banks.
It has not particularly alarmed Americans that its growth and prosperity have been built upon debt. The American public is a bit desensitized, particularly since the Y2K threat fizzled. We must wait and see how Americans respond to the upcoming FDIC report.
The following charts tell the story. There are roughly 8400 American banks that set aside a small portion of their profits to aggregately insure bank depositors should their local bank fail. A plethora of bank failures has depleted the FDIC reserve fund from $52.8 billion in 2008 to $13 billion in the 1st Quarter of 2009. (Click on the link "Mother of All Bank Runs" to see the whole article.)
===================================================
Uh Oh. ... Trouble Dead Ahead - ".....foreigners are rejecting virtually all forms of US debt, most specifically corporate and agency (mortgages.)....... What we're now seeing is outright rejection - it began slowly, but as it has become clear that The Fed was hellbent and determined to go to the wall, consequences be damned, that trickle of rejection has turned into a veritable flood."
==========================================================
A few other interesting, but now seemingly trivial articles:
Seller, beware: Feds cracking down on garage sales
US Helps Spanish Company Buy Failured Texas Bank by Putting $9.7 Billion Loss on Taxpayers
Workplace Suicides Surge by 28%
Folks are stealing hay in Texas - Signs of the times are popping up all over. It's the collection of events like this that make up the big picture.
Wednesday, August 19, 2009
Banking Crisis of Historic Proportion
I run into people all the time that are "getting ready". I've met so many; it's really kind of refreshing. Don't stay in denial. Don't procrastinate. Begin doing whatever you can. I was telling one friend yesterday that the reason that I'm recommending silver now is that, for small time players, it's best to have a form of portable wealth, one that's not tied up in the system. Also, it's a small enough amount ($15 per 1 oz coin), that it can be used for barter if need be. In a worst case scenario of a severe collapse, martial law and wealth confiscation, Congress has already tipped its hand that it will confiscate 401(k)'s, and who knows what else. Of course we know that gold was confiscated in the first depression, even though only 20% of what the public held was turned in. A black market will emerge if that's the case this time.
1.Lowe's Profit Plunges as Consumers Stay Away - I'm sure very few houses are being built nationwide.
2.Wholesale Prices Drop More than Expected in July - This is for things we don't need, like plasma televisions.
3.Coming Soon: Banking Crisis of Historic Proportions - Next time you're in a group of your friends, mention this and see what kind of reactions you get. Probably very little, which is part of the reason we're going to go down the tubes. The average citizen has little or no understanding of how the economy works, or what matters.
4.Reader's Digest Going Bankrupt
5.Fed Shut Down "Minority" S&L
6.New AIG CEO Pay $7 Million, Will be Reviewed, Obama Spokesman Says - If you'll pay attention to this, you'll find out who BHO's friends really are. They are making sure that Wall St. elite are not going to lose a dime. By now you should know that anyone who can raise almost half a billion dollars for a presidential campaign has friends in the banking world.
7.Treasury Prices Post Modest Decline
8."Chicken Underground" Emerges in Indiana
1.Lowe's Profit Plunges as Consumers Stay Away - I'm sure very few houses are being built nationwide.
2.Wholesale Prices Drop More than Expected in July - This is for things we don't need, like plasma televisions.
3.Coming Soon: Banking Crisis of Historic Proportions - Next time you're in a group of your friends, mention this and see what kind of reactions you get. Probably very little, which is part of the reason we're going to go down the tubes. The average citizen has little or no understanding of how the economy works, or what matters.
4.Reader's Digest Going Bankrupt
5.Fed Shut Down "Minority" S&L
6.New AIG CEO Pay $7 Million, Will be Reviewed, Obama Spokesman Says - If you'll pay attention to this, you'll find out who BHO's friends really are. They are making sure that Wall St. elite are not going to lose a dime. By now you should know that anyone who can raise almost half a billion dollars for a presidential campaign has friends in the banking world.
7.Treasury Prices Post Modest Decline
8."Chicken Underground" Emerges in Indiana
Saturday, August 15, 2009
US Suger Supplies Running Out
US sugar supplies 'running out' - time to start those honey bee colonies.
The Problem with Sticking it to Your Creditors
Panel Warns Smaller Banks Face Whole-Loans Threat
"We" Broke The Bank
Bleak Sales are Another Reality Check for Economy
Climate Bill Could Cost Two Million Jobs
Pressure (Countdown) to Breakdown
California to Stop Issuing IOUs
Fed Reverses Plan to Buy US Debt
James Turk: Gold to hit $1,000 this fall – Hard Assets Investor
The Problem with Sticking it to Your Creditors
Panel Warns Smaller Banks Face Whole-Loans Threat
"We" Broke The Bank
Bleak Sales are Another Reality Check for Economy
Climate Bill Could Cost Two Million Jobs
Pressure (Countdown) to Breakdown
California to Stop Issuing IOUs
Fed Reverses Plan to Buy US Debt
James Turk: Gold to hit $1,000 this fall – Hard Assets Investor
Wednesday, August 12, 2009
Obama Mocks US Military Personnel
Obama Mocks US Military Personnel
This Is From The Man Who Is Commander-In-Chief?
By Paul D. Williams
Master Sergeant USMC (Ret.)
8-10-09
Obama is Surprised [that] Vets do not want to pay their own Medical Expenses!
Here's his response when he backed-off his decision to let the military pay for their war injuries. What an empty headed person he is. Bad press, including major mockery of the plan by comedian Jon Stewart, led to President Obama abandoning his proposal to require veterans' private health insurance to cover the estimated $540 million annual cost to the federal government of treatment for injuries to military personnel received during their tours on active duty.
The President admitted that he was puzzled by the magnitude of the opposition to his proposal..
"Look, it's an all volunteer force," Obama complained. "Nobody made these guys go to war. They had to have known and accepted the risks. Now they whine about bearing the costs of their choice? It doesn't compute." "I thought these were people who were proud to sacrifice for their country," Obama continued. " (Just like the suicide bombers. sounds like his Muslim influences surfacing.) "I wasn't asking for blood, just money. With the country facing the worst financial crisis in its history, I'd have thought that the patriotic thing to do would be to try to help reduce the nation's deficit. I guess I underestimated the selfishness of some of my fellow Americans."
Typical of an individual who never served a day of his life on active duty. What more could one expect from a politician at the public trough?
Send this to everyone you know, particularly every veteran you know, to show them just what President Obama thinks of our military people who fight for our country and are hurt and/or disabled protecting OUR freedoms.
If you read nothing else in this message, read the portion I highlighted in red bold print. This is shocking! Why am I not surprised?
Semper Fi'
Paul D. Williams
Master Sergeant USMC (Ret.)
Glasgow, Kentucky 42141
Marine@glasgow-ky.com
The retired Master Sergeant's remarks above, become far more important, when the real numbers for the dead and damaged troops, in Iraq alone, are looked at - for the nineteen-plus-years that the Department of Veterans Affairs has been keeping them. Obama's suggestion would apply to roughly 1.5 million troops that Obama thinks ought to "just pick up- the check." Something on this scale would bankrupt most very wealthy families trying to treat just one family member - yet Obama seems to think this is on the same level as 'picking up the check for losing a game of golf' - he's just a boy with no life experience whatsoever. That has been clear since he began to run for office - which was some two year and eight months ago. He ran against Bush, against the war, in favor of single-payer health care and he wanted to rescind the criminal excesses of his predecessor:
What actually happened however was a total refersal of EVERYTHING he said he stood for or wanted to acomplish - and this tiny piece of his tiny mind makes it very clear that he does not belong in the chair of the puppet in chief for the USA. The US military needs to form a very special unit composed of every politician that voted for these wars, both male and female. They need to be given uniforms & three days training, and then despite age or infirmities they all need to be flown to the battle-zones in the Middle-East and kicked out over Fallujah in Iraq or dropped into the disputed mountains in Afghanistan and Pakistan, This very senior 'division' or divisions - will not be furnished with any supplies, and will be given only as much ammo as they can personally carry. They will all be micro-chipped so that we can track what happens to them, but there will be no need for them to communicate with others, as they will not be coming back. This would have a tendency to put an end to wars - of course it would never happen.
What is astounding is the fact that; "this could never happen" is as much of a fact - as is the certainty that those 1.5 million damaged troops will have to take care of themselves, because we all KNOW that there will soon no longer be any money to pay for things like dismemberment or brain damage - or anything that does not directly feed the coffers of the global One World Order.
kirwan
US Dept. of Veterans Affairs: 73,846 US troops dead, 1,620,906 disabled
http://quebec.indymedia.org/en/node/28224?PHPSES
SID=42cf5d64711fa8ffa6d3baa065657e95
http://www.rense.com/general87/obbrm.htm
This Is From The Man Who Is Commander-In-Chief?
By Paul D. Williams
Master Sergeant USMC (Ret.)
8-10-09
Obama is Surprised [that] Vets do not want to pay their own Medical Expenses!
Here's his response when he backed-off his decision to let the military pay for their war injuries. What an empty headed person he is. Bad press, including major mockery of the plan by comedian Jon Stewart, led to President Obama abandoning his proposal to require veterans' private health insurance to cover the estimated $540 million annual cost to the federal government of treatment for injuries to military personnel received during their tours on active duty.
The President admitted that he was puzzled by the magnitude of the opposition to his proposal..
"Look, it's an all volunteer force," Obama complained. "Nobody made these guys go to war. They had to have known and accepted the risks. Now they whine about bearing the costs of their choice? It doesn't compute." "I thought these were people who were proud to sacrifice for their country," Obama continued. " (Just like the suicide bombers. sounds like his Muslim influences surfacing.) "I wasn't asking for blood, just money. With the country facing the worst financial crisis in its history, I'd have thought that the patriotic thing to do would be to try to help reduce the nation's deficit. I guess I underestimated the selfishness of some of my fellow Americans."
Typical of an individual who never served a day of his life on active duty. What more could one expect from a politician at the public trough?
Send this to everyone you know, particularly every veteran you know, to show them just what President Obama thinks of our military people who fight for our country and are hurt and/or disabled protecting OUR freedoms.
If you read nothing else in this message, read the portion I highlighted in red bold print. This is shocking! Why am I not surprised?
Semper Fi'
Paul D. Williams
Master Sergeant USMC (Ret.)
Glasgow, Kentucky 42141
Marine@glasgow-ky.com
The retired Master Sergeant's remarks above, become far more important, when the real numbers for the dead and damaged troops, in Iraq alone, are looked at - for the nineteen-plus-years that the Department of Veterans Affairs has been keeping them. Obama's suggestion would apply to roughly 1.5 million troops that Obama thinks ought to "just pick up- the check." Something on this scale would bankrupt most very wealthy families trying to treat just one family member - yet Obama seems to think this is on the same level as 'picking up the check for losing a game of golf' - he's just a boy with no life experience whatsoever. That has been clear since he began to run for office - which was some two year and eight months ago. He ran against Bush, against the war, in favor of single-payer health care and he wanted to rescind the criminal excesses of his predecessor:
What actually happened however was a total refersal of EVERYTHING he said he stood for or wanted to acomplish - and this tiny piece of his tiny mind makes it very clear that he does not belong in the chair of the puppet in chief for the USA. The US military needs to form a very special unit composed of every politician that voted for these wars, both male and female. They need to be given uniforms & three days training, and then despite age or infirmities they all need to be flown to the battle-zones in the Middle-East and kicked out over Fallujah in Iraq or dropped into the disputed mountains in Afghanistan and Pakistan, This very senior 'division' or divisions - will not be furnished with any supplies, and will be given only as much ammo as they can personally carry. They will all be micro-chipped so that we can track what happens to them, but there will be no need for them to communicate with others, as they will not be coming back. This would have a tendency to put an end to wars - of course it would never happen.
What is astounding is the fact that; "this could never happen" is as much of a fact - as is the certainty that those 1.5 million damaged troops will have to take care of themselves, because we all KNOW that there will soon no longer be any money to pay for things like dismemberment or brain damage - or anything that does not directly feed the coffers of the global One World Order.
kirwan
US Dept. of Veterans Affairs: 73,846 US troops dead, 1,620,906 disabled
http://quebec.indymedia.org/en/node/28224?PHPSES
SID=42cf5d64711fa8ffa6d3baa065657e95
http://www.rense.com/general87/obbrm.htm
Sunday, August 9, 2009
Saturday, August 8, 2009
The Story Tell It Self
They may say one thing, but the headlines tell another story.
CBS Ad Revenue Plunges 96% - How can they possibly stay on the air!?!
Blatant Monetization Uncovered: Federal Reserve bought back half of the seven-year issue this week.
Goldman employees told no big purchases. "...this is a sensitive time for us, and wants to make sure that we're not being seen living high on the hog."
Southern States Becoming Epicenter of Job Losses
The Greenback is Broken
Is Gold Gearing Up (Again) to Break $1,000?
Skip the Happy Talk, this Depression is Just Beginning
Wealth for the Sensible
Obama Administration Withholds Data on Clunkers Most buyers not picking Ford, Chrysler, GM
Bank Regulators Dig in Against Obama Shake Up
US Stocks Retreat on Worse-Than-Expected Jobs, Services Data
Georgian Bank Says Bad Loans Surged 10 Times in Six Months, Seeking Cash
Factory Orders Increase 0.4%, Ex-Transport Increases 2.3%
Senate Poised to Add $2 Billion to "Clunkers" Program.
Biggest Recession Blunders
CBS Ad Revenue Plunges 96% - How can they possibly stay on the air!?!
Blatant Monetization Uncovered: Federal Reserve bought back half of the seven-year issue this week.
Goldman employees told no big purchases. "...this is a sensitive time for us, and wants to make sure that we're not being seen living high on the hog."
Southern States Becoming Epicenter of Job Losses
The Greenback is Broken
Is Gold Gearing Up (Again) to Break $1,000?
Skip the Happy Talk, this Depression is Just Beginning
Wealth for the Sensible
Obama Administration Withholds Data on Clunkers Most buyers not picking Ford, Chrysler, GM
Bank Regulators Dig in Against Obama Shake Up
US Stocks Retreat on Worse-Than-Expected Jobs, Services Data
Georgian Bank Says Bad Loans Surged 10 Times in Six Months, Seeking Cash
Factory Orders Increase 0.4%, Ex-Transport Increases 2.3%
Senate Poised to Add $2 Billion to "Clunkers" Program.
Biggest Recession Blunders
Daily Intel
Sometimes I wonder how long it will take for everyone (in my circle) to get on board. Precedents are being established daily. This is new stuff. It's not part of our history, and that's why people don't recognize the severity of it. This is nothing like the depression of the 30's. Currently it's delayed, to which I say, "Great!". That buys me more time.
Unless you are actually getting emails like this, there's just no way you can know the depth of this situation. It's kind of like a cancer patient. Without x-rays and blood work, you don't know they have it. For all intents and purposes, most of the US looks just like it did yesterday.
If You Hated Gasoline at $4 a Gallon, Imagine it at $20 - BLOOMBERG - Get your KLR 650's now.
Cash for Clunkers Gets $2 Billion Refill
Job Losses Slow to 247,000; Jobless Rate Dips - It looks like we will have job losses monthly for years. Thankfully, its slowing down, but by November it will probably pick back up.
AIG Reports 2Q Profits, First Since 2007 - Good thing they got all that taxpayer money. Now they can show a "profit". What would they show without it?
Oil Rises Over $72 as Job Loss Slows
Fannie Mae Loses $15 Billion, Seeks $10.7 Billion in Aid After 2Q Loss The Mother of All Bailouts will not stop growing for at least a decade!
Mish Shedlock: Weekly Unemployment Claims Portend Disaster
Fed Laundering Money Through the Big Banks into the Stock Market - Think about this -- the average person looks at this headline and moves on. They have no idea what this really means.
Unless you are actually getting emails like this, there's just no way you can know the depth of this situation. It's kind of like a cancer patient. Without x-rays and blood work, you don't know they have it. For all intents and purposes, most of the US looks just like it did yesterday.
If You Hated Gasoline at $4 a Gallon, Imagine it at $20 - BLOOMBERG - Get your KLR 650's now.
Cash for Clunkers Gets $2 Billion Refill
Job Losses Slow to 247,000; Jobless Rate Dips - It looks like we will have job losses monthly for years. Thankfully, its slowing down, but by November it will probably pick back up.
AIG Reports 2Q Profits, First Since 2007 - Good thing they got all that taxpayer money. Now they can show a "profit". What would they show without it?
Oil Rises Over $72 as Job Loss Slows
Fannie Mae Loses $15 Billion, Seeks $10.7 Billion in Aid After 2Q Loss The Mother of All Bailouts will not stop growing for at least a decade!
Mish Shedlock: Weekly Unemployment Claims Portend Disaster
Fed Laundering Money Through the Big Banks into the Stock Market - Think about this -- the average person looks at this headline and moves on. They have no idea what this really means.
Monday, August 3, 2009
Stay Focused on the Facts
International forecaster August 2009
Recession Worse than Prior Estimates, Revisions Show
Do not be fooled, another major economic collapse could be coming soon
Card Companies Ready to Settle Up
Middle Class Suicide
The Collapse of Commercial Property: Towers of Debt
The Future Made Simple
Goodbye Bland Affluence
Job Levels Won't Rebound in California Until 2013
Unpaid Property Taxes Hit Localities
Disney Earnings Drop 26% on Weaker Theme Park, Media Results
Oil Slips Below $67 as Euro Stocks Falter
Gold to break $1,000 this August
Gold Will Hit $1,000 Again
Recession Worse than Prior Estimates, Revisions Show
Do not be fooled, another major economic collapse could be coming soon
Card Companies Ready to Settle Up
Middle Class Suicide
The Collapse of Commercial Property: Towers of Debt
The Future Made Simple
Goodbye Bland Affluence
Job Levels Won't Rebound in California Until 2013
Unpaid Property Taxes Hit Localities
Disney Earnings Drop 26% on Weaker Theme Park, Media Results
Oil Slips Below $67 as Euro Stocks Falter
Gold to break $1,000 this August
Gold Will Hit $1,000 Again
The Three Triggers of the Global Gold Bubble
The Three Triggers of the Global Gold Bubble
http://www.moneymorning.com/2009/07/28/gold-bubble/
http://www.moneymorning.com/2009/07/28/gold-bubble/
Waiting on a Trigger Event
After the fall?; The collapse in world trade has stopped, but there is no sign of a recovery
Weak Treasury Auctions Raise Worries About US Debt Burden
Adrian Douglas: CFTC Conceals the Real Problem, the Infinite Dollar
Weak US 5-Year Debt Auction Raises Worries
Bernanke on the Record (video)
The Hole in Our Universe (The Mogambo Guru)
Dead Banks Walking
Big Banks Cashing in on Rash of Smaller Bank Failures
Copper Peaking as Inventories Signal Market Top
Detroit Area Jobless Rate Tops 17%
The Human Footprint - In N. America, less populated areas tend to be safer areas.
DECLINE AND FALL OF THE AMERICAN EMPIRE
Weak Treasury Auctions Raise Worries About US Debt Burden
Adrian Douglas: CFTC Conceals the Real Problem, the Infinite Dollar
Weak US 5-Year Debt Auction Raises Worries
Bernanke on the Record (video)
The Hole in Our Universe (The Mogambo Guru)
Dead Banks Walking
Big Banks Cashing in on Rash of Smaller Bank Failures
Copper Peaking as Inventories Signal Market Top
Detroit Area Jobless Rate Tops 17%
The Human Footprint - In N. America, less populated areas tend to be safer areas.
DECLINE AND FALL OF THE AMERICAN EMPIRE
Your Money out of the Country
Move Your Money Out of the Country…and Soon.
The new ‘retirement’ plan: Just keep working
Facing Retirement: 70 is the new 65
The weak dollar and the economy
Five Firms Hold 80% of Derivatives Risk, Fitch Report FindsWall Street's Gains Equal Main Street's Losses? "In sum, while a growing number of investors seem to believe that Main Street is on the mend, many of corporate America's senior executives -- who are normally not prone towards pessimistic outlooks -- are maintaining that they see no real evidence of a revival where it counts -- on the ground. In fact, amid an almost single-minded focus on reported earnings results, many of which only appear favorable in comparison to the low-ball, company managed estimates that clueless analysts have come up with, Wall Street hasn't been paying much attention to just how dicey things look at the top of the income statement."
Dollar Dying, Gold Gleaming
UK Oil Giants' Profits Plunge $10 Billion
Guaranty Bank Warns it's on Verge of Failure
Small Business Loan Defaults Expected to Rise
School Budgets Dip, Class Sizes Grow
Weiss: The Great Global Gap
Atlas Vacant - The Commercial Real Estate Bust: Gearing up for a $3 Trillion Headache. Increase in Vacancy Rates and Higher Defaults
Negative Folly (The Mogambo Guru)
Treasuries Fall as US Begins Auction, New Home Sales Rise
Call for Rapid Recovery is Bubble All its Own
SIGN OF THE TIMES?: 3,000 Low Temp Records Set This July!
The new ‘retirement’ plan: Just keep working
Facing Retirement: 70 is the new 65
The weak dollar and the economy
Five Firms Hold 80% of Derivatives Risk, Fitch Report FindsWall Street's Gains Equal Main Street's Losses? "In sum, while a growing number of investors seem to believe that Main Street is on the mend, many of corporate America's senior executives -- who are normally not prone towards pessimistic outlooks -- are maintaining that they see no real evidence of a revival where it counts -- on the ground. In fact, amid an almost single-minded focus on reported earnings results, many of which only appear favorable in comparison to the low-ball, company managed estimates that clueless analysts have come up with, Wall Street hasn't been paying much attention to just how dicey things look at the top of the income statement."
Dollar Dying, Gold Gleaming
UK Oil Giants' Profits Plunge $10 Billion
Guaranty Bank Warns it's on Verge of Failure
Small Business Loan Defaults Expected to Rise
School Budgets Dip, Class Sizes Grow
Weiss: The Great Global Gap
Atlas Vacant - The Commercial Real Estate Bust: Gearing up for a $3 Trillion Headache. Increase in Vacancy Rates and Higher Defaults
Negative Folly (The Mogambo Guru)
Treasuries Fall as US Begins Auction, New Home Sales Rise
Call for Rapid Recovery is Bubble All its Own
SIGN OF THE TIMES?: 3,000 Low Temp Records Set This July!
The World and Dollar
World Prepares to Dump the Dollar
Brazil and Canada Begin Dumping US Treasury Bond Debt - Our good friends the Canadians don't think our economy is going to survive. So why do you?
Abandoned US Dollar and Paradigm Shift "The foreign creditors continue to protect their core US$-denominated reserves, while clearly undermining the US$ on the margin, as alternatives are chosen."
Graduates Move Back Home
Americans Now Pariahs of Foreign Banks
Out of House and Home
The Doctrine of Preemptive Bailouts and the Biggest Bailout you Haven’t Heard About: The U.S. Treasury Plan C and the $3.5 Trillion You Will be Paying
Global Exposure in Financial Derivatives Surpasses One Quadrillion Dollars
Economist Shiller Sees 'Bad Recession,' Stocks Could Drop Again. "Shiller says that this is a dreaded "liquidity trap."
Fannie & Freddie: The most expensive bailout
Bernanke Terrified Over Commercial Real Estate, Seeks Still More Power Over Consumers
Cash-strapped states raid 911 funds
Global Exposure in Derivatives in Excess of One Quadrillion Dollars
24 Trillion Reasons to Buy Gold
Strategist: China Politely Moves Away From Dollar
US Foreclosure Crisis Spreads to New States
Awash in Nonsense (The Mogambo Guru)
John Galt: Welcome to the Eye of the Storm "Welcome to the eye of the storm. And that storm, as displayed above, is Hurricane Wilma, the most intense storm in recorded history. That storm is getting ready to move again and the most powerful part of the eyewall is about to slam into our economic fantasy land at full force."
Massive Airline Cuts as Business Travel Plunges
New Fed Role: "Super Cop" to Police Banks
No Jobs, No Insurance; Hard Times for Young Adults
Bernanke Says Jobs, Consumers are Key - According to Peter Schiff and many others, the primary flaw in Bernanke's economic policy is thinking that "credit and spending" is the foundation of the economy, when in reality, the US was built on "production and savings".
Bernanke Fights Threat by US Congress to Audit Fed
Brazil and Canada Begin Dumping US Treasury Bond Debt - Our good friends the Canadians don't think our economy is going to survive. So why do you?
Abandoned US Dollar and Paradigm Shift "The foreign creditors continue to protect their core US$-denominated reserves, while clearly undermining the US$ on the margin, as alternatives are chosen."
Graduates Move Back Home
Americans Now Pariahs of Foreign Banks
Out of House and Home
The Doctrine of Preemptive Bailouts and the Biggest Bailout you Haven’t Heard About: The U.S. Treasury Plan C and the $3.5 Trillion You Will be Paying
Global Exposure in Financial Derivatives Surpasses One Quadrillion Dollars
Economist Shiller Sees 'Bad Recession,' Stocks Could Drop Again. "Shiller says that this is a dreaded "liquidity trap."
Fannie & Freddie: The most expensive bailout
Bernanke Terrified Over Commercial Real Estate, Seeks Still More Power Over Consumers
Cash-strapped states raid 911 funds
Global Exposure in Derivatives in Excess of One Quadrillion Dollars
24 Trillion Reasons to Buy Gold
Strategist: China Politely Moves Away From Dollar
US Foreclosure Crisis Spreads to New States
Awash in Nonsense (The Mogambo Guru)
John Galt: Welcome to the Eye of the Storm "Welcome to the eye of the storm. And that storm, as displayed above, is Hurricane Wilma, the most intense storm in recorded history. That storm is getting ready to move again and the most powerful part of the eyewall is about to slam into our economic fantasy land at full force."
Massive Airline Cuts as Business Travel Plunges
New Fed Role: "Super Cop" to Police Banks
No Jobs, No Insurance; Hard Times for Young Adults
Bernanke Says Jobs, Consumers are Key - According to Peter Schiff and many others, the primary flaw in Bernanke's economic policy is thinking that "credit and spending" is the foundation of the economy, when in reality, the US was built on "production and savings".
Bernanke Fights Threat by US Congress to Audit Fed
Finally Fessing Up
I can show you statement upon statement by Bernanke from the last year where he is saying that everything will be under control, there will be a Summer recovery, etc. NOW, he says that this "may be worse than the Great Depression"?
Just remember WHO got that news to you months ago!!! The article is below. ~CH
Jul 26, 2009, 10:21 p.m. EST
Bernanke: This may be worse than Great Depression
Fed chief says growth will resume at 1% in the second half of this year
By Greg Robb, MarketWatch
WASHINGTON (MarketWatch) -- Federal Reserve Board Chairman Ben Bernanke discussed the economy with average Americans on Sunday, saying the current financial crisis could be even more virulent than the Great Depression.
"A lot of things happened, a lot came together, [and] created probably the worst financial crisis, certainly since the Great Depression and possibly even including the Great Depression," Bernanke said at the start of a town-hall meeting in Kansas City.
Bernanke defended the Fed's extraordinary moves, which have included slashing interest rates to zero, pumping billions of dollars to keep credit markets open, and buying Treasurys and mortgage debt to keep long-term interest rates low.
"I was not going to be the Federal Reserve chairman who presided over the second Great Depression," he said.
The event is being televised over three nights, beginning Monday, by U.S. public television network PBS. Members of the public, screened by PBS, were able to ask questions.
Many questioners expressed unhappiness with the "too big to fail" doctrine. One asked when Bernanke would get around to firing the leadership of banks that had to accept government assistance.
Another participant said the only thing that was clear to him in the whole crisis was that his small business was "too small to save."
At first, Bernanke tried to argue that the Fed moved to save big banks to protect the global economy, but by the end, Bernanke simply agreed that "too-big-to-fail has got to go."
First-of-its-kind meeting
The dialogue marked the first time that a sitting Fed chairman has sat down to answer questions on the record from the public. For the first 80 years of its existence, Fed officials operated under the rule that the less said, the better.
But recent economic research has indicated that Fed interest-rate policy actually works better if the public understands its basic thrust. This has led the Fed, in fits and starts, to try to open up.
The results at the town hall meeting were choppy at times, although Bernanke seemed to get better as the event went along.
The first questioner admitted she didn't "have a clue" what the Fed did. It is doubtful that Bernanke's laundry list response -- the Fed is monetary policy maker, bank supervisor, crisis manager and consumer protector -- helped her very much.
Asked when "this [recession] is going to end," Bernanke said growth would return in the second half of 2009, likely at a 1% pace. The unemployment rate won't peak until next year, he said.
The Fed has put the "pedal to the metal" to try to get the economy growing at a faster pace.
Maybe because his earlier answers were on the scary side, Bernanke then tried to be a cheerleader, saying that the U.S. economy "couldn't be held down" and would eventually return to a strong growth pace.
Strong-dollar booster
One odd moment came when Bernanke said he was a supporter of the Obama administration's "strong dollar" policy.
Fed officials typically steer clear of commenting on currency issues.
"We think the dollar should be strong, and the best way we think to get a strong dollar is to have a strong economy," Bernanke said.
"Our whole strategy right now is to get the economy out of doldrums and back onto a growth path that will attract foreign funds and keep [the dollar] strong," Bernanke said.
When asked about Bernanke, top Fed officials often use the word "decent" to describe him. This trait seemed to shine through and by the end of the event, at which point Bernanke was evoking gentle laughter from the audience.
Asked about the stock market, Bernanke said he was worried about getting sued for malpractice.
Bernanke has some other "never done before by Fed chairman" events under his belt. Earlier this year, he spoke at the National Press Club and took questions from the audience. And he took an interview for the CBS news program "60 Minutes," which included a walk down Main Street in Dillon, South Carolina, his hometown.
Bernanke did try to connect with the audience. When one member of the audience said he had been laid off and then found work, Bernanke stopped and congratulated him.
Asked what keeps him up at night, Bernanke explained he would probably get a good sleep tonight, saying: "I'm pretty tired."
Just remember WHO got that news to you months ago!!! The article is below. ~CH
Jul 26, 2009, 10:21 p.m. EST
Bernanke: This may be worse than Great Depression
Fed chief says growth will resume at 1% in the second half of this year
By Greg Robb, MarketWatch
WASHINGTON (MarketWatch) -- Federal Reserve Board Chairman Ben Bernanke discussed the economy with average Americans on Sunday, saying the current financial crisis could be even more virulent than the Great Depression.
"A lot of things happened, a lot came together, [and] created probably the worst financial crisis, certainly since the Great Depression and possibly even including the Great Depression," Bernanke said at the start of a town-hall meeting in Kansas City.
Bernanke defended the Fed's extraordinary moves, which have included slashing interest rates to zero, pumping billions of dollars to keep credit markets open, and buying Treasurys and mortgage debt to keep long-term interest rates low.
"I was not going to be the Federal Reserve chairman who presided over the second Great Depression," he said.
The event is being televised over three nights, beginning Monday, by U.S. public television network PBS. Members of the public, screened by PBS, were able to ask questions.
Many questioners expressed unhappiness with the "too big to fail" doctrine. One asked when Bernanke would get around to firing the leadership of banks that had to accept government assistance.
Another participant said the only thing that was clear to him in the whole crisis was that his small business was "too small to save."
At first, Bernanke tried to argue that the Fed moved to save big banks to protect the global economy, but by the end, Bernanke simply agreed that "too-big-to-fail has got to go."
First-of-its-kind meeting
The dialogue marked the first time that a sitting Fed chairman has sat down to answer questions on the record from the public. For the first 80 years of its existence, Fed officials operated under the rule that the less said, the better.
But recent economic research has indicated that Fed interest-rate policy actually works better if the public understands its basic thrust. This has led the Fed, in fits and starts, to try to open up.
The results at the town hall meeting were choppy at times, although Bernanke seemed to get better as the event went along.
The first questioner admitted she didn't "have a clue" what the Fed did. It is doubtful that Bernanke's laundry list response -- the Fed is monetary policy maker, bank supervisor, crisis manager and consumer protector -- helped her very much.
Asked when "this [recession] is going to end," Bernanke said growth would return in the second half of 2009, likely at a 1% pace. The unemployment rate won't peak until next year, he said.
The Fed has put the "pedal to the metal" to try to get the economy growing at a faster pace.
Maybe because his earlier answers were on the scary side, Bernanke then tried to be a cheerleader, saying that the U.S. economy "couldn't be held down" and would eventually return to a strong growth pace.
Strong-dollar booster
One odd moment came when Bernanke said he was a supporter of the Obama administration's "strong dollar" policy.
Fed officials typically steer clear of commenting on currency issues.
"We think the dollar should be strong, and the best way we think to get a strong dollar is to have a strong economy," Bernanke said.
"Our whole strategy right now is to get the economy out of doldrums and back onto a growth path that will attract foreign funds and keep [the dollar] strong," Bernanke said.
When asked about Bernanke, top Fed officials often use the word "decent" to describe him. This trait seemed to shine through and by the end of the event, at which point Bernanke was evoking gentle laughter from the audience.
Asked about the stock market, Bernanke said he was worried about getting sued for malpractice.
Bernanke has some other "never done before by Fed chairman" events under his belt. Earlier this year, he spoke at the National Press Club and took questions from the audience. And he took an interview for the CBS news program "60 Minutes," which included a walk down Main Street in Dillon, South Carolina, his hometown.
Bernanke did try to connect with the audience. When one member of the audience said he had been laid off and then found work, Bernanke stopped and congratulated him.
Asked what keeps him up at night, Bernanke explained he would probably get a good sleep tonight, saying: "I'm pretty tired."
Wednesday, July 22, 2009
Obama White House
Obama’s White House is falling Down
By Daniel Greenfield
"A shallow, manipulative and egotistical amateur who is in over his head"
In the sixth month of his presidency, Obama has turned an economic downturn into an economic disaster, taking over and trashing entire companies, and driving the nation deep into deficit spending expected to pass 10 trillion dollars.
Abroad, Obama seems to have no other mode except to continue on with his endless campaign, confusing speechmaking with diplomacy. It is natural enough that Obama, who built his entire campaign on high profile public speeches reported on by an adoring press, understands how to do nothing else but that.
Ego driven photo op appearances and clueless treatment of foreign dignitaries
While the press is still chewing over Obama's Cairo speech, this celebrity style coverage ignores the fact that Obama's endless world tour is not actually accomplishing anything. Instead his combination of ego driven photo op appearances and clueless treatment of foreign dignitaries have alienated many of America’s traditional allies. Those who aren’t being quietly angry at Obama, like Brown, Merkel or Netanyahu, instead think of him as absurdly lightweight, as Sarkozy, King Abdullah or Putin do.
While his officials carry out their dirty economic deeds, Obama responds to any and every crisis as if it were a Mickey Rooney and Judy Garland musical, with a cry of, "Let's put on a show." Thus far Obama has put on "shows" across America, Europe and the Middle East. And what the adoring media coverage neglects to cover, is that Obama's shows have solved absolutely nothing. They have served only as high profile entertainment.
Neither alienating America’s traditional allies, through a combination of arrogant bullying and ignorance, nor appeasing America’s enemies, has yielded any actual results. Nor does it seem likely to. Islamic terrorism is not going anywhere, neither are the nuclear threats from North Korea and Iran. While Obama keeps smiling, the global situation keeps growing grimmer.
At home, if Obama was elected as depression era entertainment, the charm of his smiles and his constant appearances on magazine covers appear to be wearing thin on the American public. Despite the shrill attacks on Rush Limbaugh or the Republican Enemy of the Weak-- the Democratic Party of 2009, is polling a lot like the Republican Party of 2008. The Democrats have suddenly become the incumbents, and the only accomplishment they can point to is lavish deficit spending, often on behalf of the very same corporations and causes they once postured against.
The European Union Parliament's swing to the right cannot be credited to Obama, though doubtlessly some European voters seeing socialist economic crisis management on display in the world's richest country decided they wanted none of it, but it is part of a general turning against federalism. And Obama's entire program is dependent on heavily entrenching federalism at the expense of individual and state’s rights. Yet that is precisely his Achilles heel with independent voters who are polling against more taxes and expanded government. And no amount of speeches by Obama can wish away his 18 czars or the national debt he has foisted on generation after generation of the American people.
That leaves Obama with a choice between socialism and the independent voter. And thus far he has chosen socialism.
Obama's tactic of hijacking Bush Administration era policies on the economy and the War o n Terror, and exploiting them as Trojan horses to promote his own agenda, have left him coping with a backlash from his own party, as well as general Republican opposition.
His Czars are meant to function as the bones in an executive infrastructure accountable to no one, but a lack of accountability isn't just another word for tyranny, but for incompetence. A functional chain of command is accountable at multiple levels if it is to function effectively. Obama's White House by contrast is in a state of over-organized chaos, the sort of organized disorganization that undisciplined egotistical leftists naturally create for themselves, complete with multiple overlapping levels of authority and no one in charge but the man at the top, who's too busy doing other things to actually be in charge.
Dennis Blair as National Intelligence, who collaborated with the Muslim genocide of Christians in East Timor, trying to muscle out the CIA to create his own intelligence network, is typical of the kind of chaos being spawned by every chief in an expanding government bureaucracy working to make sure that all the Indians answer to him. Similarly the National Security Council wrestling with the State Department, highlighted by Samantha Power getting her own specially created NSC position to butt heads with Secretary of State Hillary Clinton, illustrates the state of conflict and chaos in American foreign affairs. A state of chaos so pervasive that incompetence has now become commonplace and no one can even be found to double check the spelling of a Russian word that is meant to be the theme of American’s diplomatic reconstruction with Russia, or to pick out a gift for the visiting British Prime Minister.
The death of Chrysler at the hands of Fiat and the UAW
Meanwhile on the economy, Obama exploited the ongoing bailouts, transforming them from bailouts into takeovers meant to shift the balance of power in what had been a democracy and socially engineer not only corporations, but the live s of ordinary Americans. But the public's patience with corporate bailouts is at an end, most Americans were never happy with them to begin with, and want them to end. The death of Chrysler at the hands of Fiat and the UAW might look like a victory in the union ranks, but it doesn't play too well outside Detroit. And tacking on CAFE standards that will kill the pickup truck and the SUV will badly erode Obama in the swing states, if exploited properly in 2010 and 2012. Despite the constant media barrage, orchestrated out of the White House, the public is growing disenchanted with the performance of Obama and the Democrats.
With unemployment booming and the economy dropping, the jobs aren't there and the spending is out of control. Republicans today are polling better on ethics and the economy, than the Democrats are. That shows a trend which is likely to register in the mid-term elections in 2010, in the same way that the EU parliamentary elections served as a shock to the system.
In the opposition, Republicans are free to embrace the rhetoric of change, to champion reform and push libertarian ideas about the size and scope of government. In turn all Obama has is his celebrity fueled media spectacle world tour. A charade now serving as a parallel to the depression era entertainment that functioned as escapism in a dour time, but before long, it may be Obama that the American public will want to escape from.
A shallow, manipulative and egotistical amateur who is in over his head
Obama has tried to play Lincoln, Reagan, JFK and FDR-- but in the end he can only play himself, a shallow, manipulative and egotistical amateur who is in over his head, and trying to drag the country down with him. Obama’s White House is falling down and while the flashbulbs are still glittering and the parties are going on in D.C. and around the world, Obama and the Democratic Congress may be headed for a recession of their own.
By Daniel Greenfield
"A shallow, manipulative and egotistical amateur who is in over his head"
In the sixth month of his presidency, Obama has turned an economic downturn into an economic disaster, taking over and trashing entire companies, and driving the nation deep into deficit spending expected to pass 10 trillion dollars.
Abroad, Obama seems to have no other mode except to continue on with his endless campaign, confusing speechmaking with diplomacy. It is natural enough that Obama, who built his entire campaign on high profile public speeches reported on by an adoring press, understands how to do nothing else but that.
Ego driven photo op appearances and clueless treatment of foreign dignitaries
While the press is still chewing over Obama's Cairo speech, this celebrity style coverage ignores the fact that Obama's endless world tour is not actually accomplishing anything. Instead his combination of ego driven photo op appearances and clueless treatment of foreign dignitaries have alienated many of America’s traditional allies. Those who aren’t being quietly angry at Obama, like Brown, Merkel or Netanyahu, instead think of him as absurdly lightweight, as Sarkozy, King Abdullah or Putin do.
While his officials carry out their dirty economic deeds, Obama responds to any and every crisis as if it were a Mickey Rooney and Judy Garland musical, with a cry of, "Let's put on a show." Thus far Obama has put on "shows" across America, Europe and the Middle East. And what the adoring media coverage neglects to cover, is that Obama's shows have solved absolutely nothing. They have served only as high profile entertainment.
Neither alienating America’s traditional allies, through a combination of arrogant bullying and ignorance, nor appeasing America’s enemies, has yielded any actual results. Nor does it seem likely to. Islamic terrorism is not going anywhere, neither are the nuclear threats from North Korea and Iran. While Obama keeps smiling, the global situation keeps growing grimmer.
At home, if Obama was elected as depression era entertainment, the charm of his smiles and his constant appearances on magazine covers appear to be wearing thin on the American public. Despite the shrill attacks on Rush Limbaugh or the Republican Enemy of the Weak-- the Democratic Party of 2009, is polling a lot like the Republican Party of 2008. The Democrats have suddenly become the incumbents, and the only accomplishment they can point to is lavish deficit spending, often on behalf of the very same corporations and causes they once postured against.
The European Union Parliament's swing to the right cannot be credited to Obama, though doubtlessly some European voters seeing socialist economic crisis management on display in the world's richest country decided they wanted none of it, but it is part of a general turning against federalism. And Obama's entire program is dependent on heavily entrenching federalism at the expense of individual and state’s rights. Yet that is precisely his Achilles heel with independent voters who are polling against more taxes and expanded government. And no amount of speeches by Obama can wish away his 18 czars or the national debt he has foisted on generation after generation of the American people.
That leaves Obama with a choice between socialism and the independent voter. And thus far he has chosen socialism.
Obama's tactic of hijacking Bush Administration era policies on the economy and the War o n Terror, and exploiting them as Trojan horses to promote his own agenda, have left him coping with a backlash from his own party, as well as general Republican opposition.
His Czars are meant to function as the bones in an executive infrastructure accountable to no one, but a lack of accountability isn't just another word for tyranny, but for incompetence. A functional chain of command is accountable at multiple levels if it is to function effectively. Obama's White House by contrast is in a state of over-organized chaos, the sort of organized disorganization that undisciplined egotistical leftists naturally create for themselves, complete with multiple overlapping levels of authority and no one in charge but the man at the top, who's too busy doing other things to actually be in charge.
Dennis Blair as National Intelligence, who collaborated with the Muslim genocide of Christians in East Timor, trying to muscle out the CIA to create his own intelligence network, is typical of the kind of chaos being spawned by every chief in an expanding government bureaucracy working to make sure that all the Indians answer to him. Similarly the National Security Council wrestling with the State Department, highlighted by Samantha Power getting her own specially created NSC position to butt heads with Secretary of State Hillary Clinton, illustrates the state of conflict and chaos in American foreign affairs. A state of chaos so pervasive that incompetence has now become commonplace and no one can even be found to double check the spelling of a Russian word that is meant to be the theme of American’s diplomatic reconstruction with Russia, or to pick out a gift for the visiting British Prime Minister.
The death of Chrysler at the hands of Fiat and the UAW
Meanwhile on the economy, Obama exploited the ongoing bailouts, transforming them from bailouts into takeovers meant to shift the balance of power in what had been a democracy and socially engineer not only corporations, but the live s of ordinary Americans. But the public's patience with corporate bailouts is at an end, most Americans were never happy with them to begin with, and want them to end. The death of Chrysler at the hands of Fiat and the UAW might look like a victory in the union ranks, but it doesn't play too well outside Detroit. And tacking on CAFE standards that will kill the pickup truck and the SUV will badly erode Obama in the swing states, if exploited properly in 2010 and 2012. Despite the constant media barrage, orchestrated out of the White House, the public is growing disenchanted with the performance of Obama and the Democrats.
With unemployment booming and the economy dropping, the jobs aren't there and the spending is out of control. Republicans today are polling better on ethics and the economy, than the Democrats are. That shows a trend which is likely to register in the mid-term elections in 2010, in the same way that the EU parliamentary elections served as a shock to the system.
In the opposition, Republicans are free to embrace the rhetoric of change, to champion reform and push libertarian ideas about the size and scope of government. In turn all Obama has is his celebrity fueled media spectacle world tour. A charade now serving as a parallel to the depression era entertainment that functioned as escapism in a dour time, but before long, it may be Obama that the American public will want to escape from.
A shallow, manipulative and egotistical amateur who is in over his head
Obama has tried to play Lincoln, Reagan, JFK and FDR-- but in the end he can only play himself, a shallow, manipulative and egotistical amateur who is in over his head, and trying to drag the country down with him. Obama’s White House is falling down and while the flashbulbs are still glittering and the parties are going on in D.C. and around the world, Obama and the Democratic Congress may be headed for a recession of their own.
US Concerns breakdown in Law and Order
This is certainly something for you to remember in the future, because this will definitely rear its ugly head again.
Paulson reveals US concerns of breakdown in law and order
By Stephen Foley in New York
Friday, 17 July 2009
The Bush administration and Congress discussed the possibility of a breakdown in law and order and the logistics of feeding US citizens if commerce and banking collapsed as a result of last autumn's financial panic, it was disclosed yesterday.
Making his first appearance on Capitol Hill since leaving office, the former Treasury secretary Hank Paulson said it was important at the time not to reveal the extent of officials' concerns, for fear it would "terrify the American people and lead to an even bigger problem".
Mr Paulson testified to the House Oversight Committee on the Bush administration's unpopular $700bn (£426bn) bailout of Wall Street, which was triggered by the failure of Lehman Brothers last September. In the days that followed, a run on some of the safest investment vehicles in the financial markets threatened to make it impossible for people to access their savings.
Paul Kanjorski, a Pennsylvania Democrat, asked Mr Paulson to reveal details of officials' concerns, which were relayed to Congress in hasty conference calls last year. The calls included discussion of law and order and whether it would be possible to feed the American people, and for how long, according to Mr Kanjorski.
"In a world where information can flow, money can move with the speed of light electronically, I looked at the ripple effect, and looked at when a financial system fails, a whole country's economic system can fail," Mr Paulson said. "I believe we could have gone back to the sorts of situations we saw in the Depression. I try not to use hyperbole. It's impossible to prove now since it didn't happen."
The Oversight committee is investigating the takeover of Merrill Lynch by Bank of America, a deal forged in the desperate weekend that Lehman Brothers failed, and which later required government support because of Merrill's spiralling losses.
Mr Paulson defended putting pressure on Bank of America when it had last-minute doubts about the deal in December. Not to have done so could have rekindled the "financial havoc" the bailout had calmed.
Paulson reveals US concerns of breakdown in law and order
By Stephen Foley in New York
Friday, 17 July 2009
The Bush administration and Congress discussed the possibility of a breakdown in law and order and the logistics of feeding US citizens if commerce and banking collapsed as a result of last autumn's financial panic, it was disclosed yesterday.
Making his first appearance on Capitol Hill since leaving office, the former Treasury secretary Hank Paulson said it was important at the time not to reveal the extent of officials' concerns, for fear it would "terrify the American people and lead to an even bigger problem".
Mr Paulson testified to the House Oversight Committee on the Bush administration's unpopular $700bn (£426bn) bailout of Wall Street, which was triggered by the failure of Lehman Brothers last September. In the days that followed, a run on some of the safest investment vehicles in the financial markets threatened to make it impossible for people to access their savings.
Paul Kanjorski, a Pennsylvania Democrat, asked Mr Paulson to reveal details of officials' concerns, which were relayed to Congress in hasty conference calls last year. The calls included discussion of law and order and whether it would be possible to feed the American people, and for how long, according to Mr Kanjorski.
"In a world where information can flow, money can move with the speed of light electronically, I looked at the ripple effect, and looked at when a financial system fails, a whole country's economic system can fail," Mr Paulson said. "I believe we could have gone back to the sorts of situations we saw in the Depression. I try not to use hyperbole. It's impossible to prove now since it didn't happen."
The Oversight committee is investigating the takeover of Merrill Lynch by Bank of America, a deal forged in the desperate weekend that Lehman Brothers failed, and which later required government support because of Merrill's spiralling losses.
Mr Paulson defended putting pressure on Bank of America when it had last-minute doubts about the deal in December. Not to have done so could have rekindled the "financial havoc" the bailout had calmed.
Recession Victims
Recession hits Harley-Davidson, Marriott - Harley's net income plunges 91%!
The Long-Term Budget Outlook - The deficit will be 100% of GDP within 11 years!?!JPMorgan 2Q Profit Jumps 36%, Topping Forecasts. This includes stimulus money. Cheaters!Where's The Outrage Over AIG's Latest Bonuses?CIT Seeks Private Funds to Avoid CollapseNew Jobless Claims Down Sharply Last Week- What a bunch of hogwash; MSNBC has been a positive spin propaganda machine for the Obama administration for quite some time. There were only 522,000 applications for unemployment last WEEK. But remember, only 60% of people who lost their jobs can apply, so that means that 833,000 people lost their jobs LAST WEEK. And MSNBC's response is, "See how good its getting?"
Obama: Now is time to change health care- The US is being "prison raped" into socialized healthcare. You're gettin' it whether you want it or not.
==========================================================================================
Homemade Laundry Detergent -- Makes Enough for About 180 Loads
by Carla
1 Bar - Fels Naptha soap ($1.29 for a 5-1/2 ounce bar)1 cup - Washing soda $3.99 55 ounce box (do not confuse this with baking soda)1/2 cup - Borax ($3.49 for a 76 ounce box on sale price, regular price is $3.99) This is the old 20 Mule Team brand, and this can be found at Wal-Mart.)1 - 5 gal. High Density Polyethylene plastic utility bucket with lid. These are often available free from bakeries, or approximately $4-tio $5 at [Sam's Club or] Wal-Mart, or your local paint store)
Grate the Fels Naptha soap into small pieces. You can chop it with a knife, cheese grater, or food processor. Heat four quarts of water in a large, heavy saucepan on top of stove and add soap, stirring constantly till melted. This will take a while depending on the size of your grated pieces. Meanwhile, fill the five gallon bucket half full with warm water. Add the 1 cup of washing soda and the 1/2 cup of Borax and stir well. When soap is melted pour into bucket, then continue to fill bucket with warm water until full. Stir well and let sit overnight until cool. This "concentrate" will thicken as it sits. Stir before using. Now, I use this concentrate straight out of the bucket and use 1/3 cup per large load. The original instructions said to save an old laundry detergent container, fill half full with concentrate then add water to top. Shake and use 5/8ths cup per large load. Repeat till your concentrate is gone. This will give you 10 gallons of laundry detergent. That just seemed more trouble than necessary. So I use the concentrate as-is. No need to have to make room for another container. You will have enough leftover soda and Borax to make approximately five more buckets of detergent. You will have to buy more soap. The costs for one 5-gallon bucket (not including the bucket) is approximately $2.40. If you compared that to the expensive brand of concentrate @ $20.00 per container, just think of the savings and that is if your store bought container makes 180 loads! Since I don't buy the twenty dollar Tide brand, I'm not sure if that is for 180 loads, so the savings could be a lot more. $14.40 for a total of six 5-gallon buckets compared to $120 for six containers of Tide 2X concentrate. In a small space, enough to hold 1 box of Borax, 1 box of washing soda and 6 bars of Fels Naptha you can have better cleaning power than six containers of store bought laundry detergent. This will also save more than $100!
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The Long-Term Budget Outlook - The deficit will be 100% of GDP within 11 years!?!JPMorgan 2Q Profit Jumps 36%, Topping Forecasts. This includes stimulus money. Cheaters!Where's The Outrage Over AIG's Latest Bonuses?CIT Seeks Private Funds to Avoid CollapseNew Jobless Claims Down Sharply Last Week- What a bunch of hogwash; MSNBC has been a positive spin propaganda machine for the Obama administration for quite some time. There were only 522,000 applications for unemployment last WEEK. But remember, only 60% of people who lost their jobs can apply, so that means that 833,000 people lost their jobs LAST WEEK. And MSNBC's response is, "See how good its getting?"
Obama: Now is time to change health care- The US is being "prison raped" into socialized healthcare. You're gettin' it whether you want it or not.
==========================================================================================
Homemade Laundry Detergent -- Makes Enough for About 180 Loads
by Carla
1 Bar - Fels Naptha soap ($1.29 for a 5-1/2 ounce bar)1 cup - Washing soda $3.99 55 ounce box (do not confuse this with baking soda)1/2 cup - Borax ($3.49 for a 76 ounce box on sale price, regular price is $3.99) This is the old 20 Mule Team brand, and this can be found at Wal-Mart.)1 - 5 gal. High Density Polyethylene plastic utility bucket with lid. These are often available free from bakeries, or approximately $4-tio $5 at [Sam's Club or] Wal-Mart, or your local paint store)
Grate the Fels Naptha soap into small pieces. You can chop it with a knife, cheese grater, or food processor. Heat four quarts of water in a large, heavy saucepan on top of stove and add soap, stirring constantly till melted. This will take a while depending on the size of your grated pieces. Meanwhile, fill the five gallon bucket half full with warm water. Add the 1 cup of washing soda and the 1/2 cup of Borax and stir well. When soap is melted pour into bucket, then continue to fill bucket with warm water until full. Stir well and let sit overnight until cool. This "concentrate" will thicken as it sits. Stir before using. Now, I use this concentrate straight out of the bucket and use 1/3 cup per large load. The original instructions said to save an old laundry detergent container, fill half full with concentrate then add water to top. Shake and use 5/8ths cup per large load. Repeat till your concentrate is gone. This will give you 10 gallons of laundry detergent. That just seemed more trouble than necessary. So I use the concentrate as-is. No need to have to make room for another container. You will have enough leftover soda and Borax to make approximately five more buckets of detergent. You will have to buy more soap. The costs for one 5-gallon bucket (not including the bucket) is approximately $2.40. If you compared that to the expensive brand of concentrate @ $20.00 per container, just think of the savings and that is if your store bought container makes 180 loads! Since I don't buy the twenty dollar Tide brand, I'm not sure if that is for 180 loads, so the savings could be a lot more. $14.40 for a total of six 5-gallon buckets compared to $120 for six containers of Tide 2X concentrate. In a small space, enough to hold 1 box of Borax, 1 box of washing soda and 6 bars of Fels Naptha you can have better cleaning power than six containers of store bought laundry detergent. This will also save more than $100!
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US Debt Clock
Read all the titles on the following page. The "unfunded liabilities" at the bottom is seriously under-reported.
It's funny that people look at these numbers as if they're just a curiosity and have no bearing on their future.
http://www.usdebtclock.org/
It's funny that people look at these numbers as if they're just a curiosity and have no bearing on their future.
http://www.usdebtclock.org/
Consumer Retrench
Gary Shilling: Stock Market Will Crash as US Consumers Retrench
500,000 Will Exhaust Unemployment Benefits by September, 1.5 Million by Year-end
As Boom Times Sour in Vegas, Upward Mobility Goes Bust
Summers urges Banks to Lend Mores, Says Recovery Pace 'in doubt.'
Americans Pay Back Debts Most Since '52 as Jobless Spur Savings - Smart people. You don't want to enter this depression in debt.
More bodies go unclaimed as families can't afford funeral costs - Sounds like a good plan! I mean, they're dead anyway right?
Subprime brokers mutate into loan fixers
Tough Times for Dairymen
Why the economy won't recover soon
USPS May be Unable to Make Payroll in October and Retiree Health Plan Costs, Union Says
White House Putting Off Release of Budget Update The 2009 Deficit is $2 Trillion--Four times that of 2008!
As Economy Bites, White House Delays Budget Review
Faber: Next Stimulus Will Be Worse
Imminent Erosion of US Dollar Seawall
Rogers: America Bordering on Communism "Let's be honest about what this is: an attempt to hide a record-breaking deficit"
Cost of Bailout to US: $24 Trillion Maximum exposure could be $80,000 for every American
Examples of How Tax Increases Could Hit the Rich
US Commerce Chief Worried About Firms' Liquidity "Could cause small, medium manufacturers to go out of business."
United Airlines Set to Cause Financial Turbulence "Looks to raise ticket prices for thousands of fliers" and "stop taking credit cards for travel from certain travel agencies."
500,000 Will Exhaust Unemployment Benefits by September, 1.5 Million by Year-end
As Boom Times Sour in Vegas, Upward Mobility Goes Bust
Summers urges Banks to Lend Mores, Says Recovery Pace 'in doubt.'
Americans Pay Back Debts Most Since '52 as Jobless Spur Savings - Smart people. You don't want to enter this depression in debt.
More bodies go unclaimed as families can't afford funeral costs - Sounds like a good plan! I mean, they're dead anyway right?
Subprime brokers mutate into loan fixers
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Sunday, July 19, 2009
OBAMA HAS INTERPRETED NIGERIA
LET’S CHANGE IT!
From President Barack Obama in Ghana came a strong damnation of the irresponsible governance that has for decades been the unfortunate lot of Nigeria but which has assumed an embarrassing status with the current congenital incompetence mismanaging the country.
In a well-delivered speech, the 44th President of the United States of America, who could not be accused of racism, spoke eloquently about the success of Ghana (Nigeria’s failures) with a biting indictment of the shame of most of the rest of the continent of which Nigeria is a giant among the continental embarrassments.
Afenifere Renewal Group (ARG) congratulates Ghanaians who have risen from the valley of adversity to the mountain of prosperity and good conduct to be the first port of call in sub-Saharan Africa on an elaborate and historical visit; and as Obama attested, The 21st century will be shaped by what happens not just in Rome or Moscow or Washington but by what happens in Accra as well. Ghana has shown that something good can come out of Africa after all.As we congratulate Ghana - its people and leadership we turn our attention to the irresponsible leadership of Nigeria, which believes that a Madam Rebranded spraying cologne on a stinking corpse is what would make Nigeria attractive to the world.
But like we told them that, you can’t change the opinions of decent nations with deceptions, Obama has painted a graphic picture of the ugliness of the Nigerian ostrich.While the ruling party behaved like a band of pirates in Ekiti and thought the world was not watching, Obama was taking notes. Each nation gives life to democracy in its own way, and in line with its own traditions. But history offers a clear verdict: governments that respect the will of their own people are more prosperous, more stable and more successful than governments that do not. This is about more than holding elections it’s also about what happens between them.While the present administration makes mockery of the rule of law as core of its Seven -Point deception and hounding Nuhu Ribadu for standing against corruption which it pretends to fight, Obama came out clear: No country is going to create wealth if its leaders exploit the economy to enrich them or police can be bought off by drug traffickers. No business wants to invest in a place where the government skims 20 percent off the top or head of the port authority is corrupt. No person wants to live in a society where the rule of law gives way to the rule of brutality and bribery. That is not democracy that is tyranny and now is the time to end it. Whereas former President Olusegun Obasanjo and his successor are apostles of do-or-die politics, Obama says the Ghana model is it: Time and again, Ghanaians have chosen constitutional rule over autocracy, and shown a democratic spirit that allows the energy of your people to break through. We see that in leaders who accept defeat graciously and victors who resist calls to wield power against the opposition.Obama was not all about denunciations but also about practical measures to end the season of anomies in Nigeria. He advocated a bottom-up change with a solemn promise that America will support change seekers who are ready to sort their country. And, for the young people who are giving up and using social vices as escape values from the miseries in Nigeria, Obama had appropriate counsel: In places like Ghana (Nigeria), you make up over half of the population. Here is what you must know: the world will be what you make of it. You have the power to hold your leader accountable and to build institutions that serve the people.This is the critical challenge today for us as a people. The time has come for both the young and the old. The young must take the challenge of fixing Nigeria. The re-branders have exhausted all their possibilities and we are left as an object of derision by their misrule. Now is the time for the re-builders to step out as Obama, who did it in his own country within two years, has cut out the job ahead of 2011. It is absurd that, as bad as things are for Nigeria, President Yar-Adua is turning the rumor of his Second Term bid to a reality. It is only the wicked souls in the Party Destroying People (PDP) who can give thought to the tragic idea that any nation deserves eight years of the nonsense currently going on in Nigeria.
The moment must begin to find its women. All change agents must step out now from the deserts of the Northwest and the hills of the Northeast; from the valleys of the North-central, to the plains of the Southeast; and from the creeks of the South-South, to the Savannah of the Southwest.
It is time to take back our country from the demons and let righteousness reign. If we are set to do it, YES, WE CAN! If we don’t, YES, WE CAN’T.
The banner of our movement must be CHANGE.
Yinka OdumakinNational Publicity SecretaryAfenifere Renewal Group (ARG)
www.afenifererenewal.org
From President Barack Obama in Ghana came a strong damnation of the irresponsible governance that has for decades been the unfortunate lot of Nigeria but which has assumed an embarrassing status with the current congenital incompetence mismanaging the country.
In a well-delivered speech, the 44th President of the United States of America, who could not be accused of racism, spoke eloquently about the success of Ghana (Nigeria’s failures) with a biting indictment of the shame of most of the rest of the continent of which Nigeria is a giant among the continental embarrassments.
Afenifere Renewal Group (ARG) congratulates Ghanaians who have risen from the valley of adversity to the mountain of prosperity and good conduct to be the first port of call in sub-Saharan Africa on an elaborate and historical visit; and as Obama attested, The 21st century will be shaped by what happens not just in Rome or Moscow or Washington but by what happens in Accra as well. Ghana has shown that something good can come out of Africa after all.As we congratulate Ghana - its people and leadership we turn our attention to the irresponsible leadership of Nigeria, which believes that a Madam Rebranded spraying cologne on a stinking corpse is what would make Nigeria attractive to the world.
But like we told them that, you can’t change the opinions of decent nations with deceptions, Obama has painted a graphic picture of the ugliness of the Nigerian ostrich.While the ruling party behaved like a band of pirates in Ekiti and thought the world was not watching, Obama was taking notes. Each nation gives life to democracy in its own way, and in line with its own traditions. But history offers a clear verdict: governments that respect the will of their own people are more prosperous, more stable and more successful than governments that do not. This is about more than holding elections it’s also about what happens between them.While the present administration makes mockery of the rule of law as core of its Seven -Point deception and hounding Nuhu Ribadu for standing against corruption which it pretends to fight, Obama came out clear: No country is going to create wealth if its leaders exploit the economy to enrich them or police can be bought off by drug traffickers. No business wants to invest in a place where the government skims 20 percent off the top or head of the port authority is corrupt. No person wants to live in a society where the rule of law gives way to the rule of brutality and bribery. That is not democracy that is tyranny and now is the time to end it. Whereas former President Olusegun Obasanjo and his successor are apostles of do-or-die politics, Obama says the Ghana model is it: Time and again, Ghanaians have chosen constitutional rule over autocracy, and shown a democratic spirit that allows the energy of your people to break through. We see that in leaders who accept defeat graciously and victors who resist calls to wield power against the opposition.Obama was not all about denunciations but also about practical measures to end the season of anomies in Nigeria. He advocated a bottom-up change with a solemn promise that America will support change seekers who are ready to sort their country. And, for the young people who are giving up and using social vices as escape values from the miseries in Nigeria, Obama had appropriate counsel: In places like Ghana (Nigeria), you make up over half of the population. Here is what you must know: the world will be what you make of it. You have the power to hold your leader accountable and to build institutions that serve the people.This is the critical challenge today for us as a people. The time has come for both the young and the old. The young must take the challenge of fixing Nigeria. The re-branders have exhausted all their possibilities and we are left as an object of derision by their misrule. Now is the time for the re-builders to step out as Obama, who did it in his own country within two years, has cut out the job ahead of 2011. It is absurd that, as bad as things are for Nigeria, President Yar-Adua is turning the rumor of his Second Term bid to a reality. It is only the wicked souls in the Party Destroying People (PDP) who can give thought to the tragic idea that any nation deserves eight years of the nonsense currently going on in Nigeria.
The moment must begin to find its women. All change agents must step out now from the deserts of the Northwest and the hills of the Northeast; from the valleys of the North-central, to the plains of the Southeast; and from the creeks of the South-South, to the Savannah of the Southwest.
It is time to take back our country from the demons and let righteousness reign. If we are set to do it, YES, WE CAN! If we don’t, YES, WE CAN’T.
The banner of our movement must be CHANGE.
Yinka OdumakinNational Publicity SecretaryAfenifere Renewal Group (ARG)
www.afenifererenewal.org
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