Financial Crisis Considered Top "Security Threat" to US
Gosh, you don't say!?!! Really?!
QUOTE: "...the most immediate fallout from the worldwide economic decline for the United States will be "allies and friends not being able to fully meet their defense and humanitarian obligations." [Blair] also saw the prospect of possible refugee flows from the Caribbean to the United States and a questioning of American economic and financial leadership in the world. But Blair also raised the specter of the "high levels of violent extremism" in the turmoil of the 1920s and 1930s along with "regime-threatening instability" if the economic crisis persists over a one-to-two-year period."
Sunday, June 28, 2009
It's gaining on you
"It's gaining on you."
Stocks Bear Market And Financial Crisis Not Over, US Regional Banks Next To Go
Epidemic of Bankruptcies Symptomatic of the Deflating Bubble
Unemployment Crisis Grips US States "There is general agreement, moreover, that employment levels and conditions of labor will not return to those that prevailed prior to the financial crisis. This is no accident. The ruling elite, led by the Obama administration, has seized on the crisis as a long-awaited chance to restructure class relations to its advantage for decades to come."
US Economy Trending Towards An Inflationary Depression "While simultaneously supporting the Fed's actions, which amount to little more than using chewing gum and bailing wire to keep the money and credit markets from collapsing as it creates and distributes, in arrogant, secretive, crony-capitalist fashion, a gargantuan pile of counterfeit monopoly money in an amount on par with total US GDP for an entire year, you can just sense and feel that there is now a runaway, hyperinflationary freight train rumbling down the tracks at ever greater speed that is soon going to derail and create a train wreck out of our economy."
No "Green Shoots" of Economic Recovery with US Debt at 700% of GDP
China argues to replace US dollar
Stocks Bear Market And Financial Crisis Not Over, US Regional Banks Next To Go
Epidemic of Bankruptcies Symptomatic of the Deflating Bubble
Unemployment Crisis Grips US States "There is general agreement, moreover, that employment levels and conditions of labor will not return to those that prevailed prior to the financial crisis. This is no accident. The ruling elite, led by the Obama administration, has seized on the crisis as a long-awaited chance to restructure class relations to its advantage for decades to come."
US Economy Trending Towards An Inflationary Depression "While simultaneously supporting the Fed's actions, which amount to little more than using chewing gum and bailing wire to keep the money and credit markets from collapsing as it creates and distributes, in arrogant, secretive, crony-capitalist fashion, a gargantuan pile of counterfeit monopoly money in an amount on par with total US GDP for an entire year, you can just sense and feel that there is now a runaway, hyperinflationary freight train rumbling down the tracks at ever greater speed that is soon going to derail and create a train wreck out of our economy."
No "Green Shoots" of Economic Recovery with US Debt at 700% of GDP
China argues to replace US dollar
Saturday, June 27, 2009
Cops Lossing Jobs
Even Cops Losing Their Jobs in the Recession - As cities lose tax revenue, more police will lose their jobs, and crime will rise.
Smith & Wesson Profit Doubles, Beats Street View - Investors - Lesson learned!?
Is inflation our next big worry?
Gold prepares for the big one – 24hGold
Exciting times for gold – MoneyWeek
Insiders Exit Shares at the Fastest Pace in Two Years Quote: “If insiders are selling into the rally, that shows they don’t expect their business to be able to support current stock- price levels,” said Joseph Keating, the chief investment officer of Raleigh, North Carolina-based RBC Bank, the unit of Royal Bank of Canada that oversees $33 billion in client assets. “They’re taking advantage of this bounce and selling into it.”
California to Shed 1 Million Jobs During "Recession"
California to Issue IOU's Starting July 2nd
Jobless Claims Rise, GDP Dips at Lower Pace in 1Q
China Should Buy Gold to Hedge Dollar Fall
$100,000 A Year Will Make You Go Broke on the California Tax System
Dr. Art Robinson: Bricks Without Straw
Okay, you can start playing the theme to JAWS anytime you see "China" and "Reserve Currency" in the same sentence:
China Reiterates Call for International Reserve Currency
Smith & Wesson Profit Doubles, Beats Street View - Investors - Lesson learned!?
Is inflation our next big worry?
Gold prepares for the big one – 24hGold
Exciting times for gold – MoneyWeek
Insiders Exit Shares at the Fastest Pace in Two Years Quote: “If insiders are selling into the rally, that shows they don’t expect their business to be able to support current stock- price levels,” said Joseph Keating, the chief investment officer of Raleigh, North Carolina-based RBC Bank, the unit of Royal Bank of Canada that oversees $33 billion in client assets. “They’re taking advantage of this bounce and selling into it.”
California to Shed 1 Million Jobs During "Recession"
California to Issue IOU's Starting July 2nd
Jobless Claims Rise, GDP Dips at Lower Pace in 1Q
China Should Buy Gold to Hedge Dollar Fall
$100,000 A Year Will Make You Go Broke on the California Tax System
Dr. Art Robinson: Bricks Without Straw
Okay, you can start playing the theme to JAWS anytime you see "China" and "Reserve Currency" in the same sentence:
China Reiterates Call for International Reserve Currency
Ogun Concerned Professionals
A body of professionals of Ogun state origin
PRESS RELEASE
Daniel N60bn Bond: Where is PPP?
Our attention has been drawn to the controversy generated by the move of the Ogun state Government to go to the Nigeria Stock Exchange (NSE) to raise N60bn bond. The State governor, Otunba Gbenga Daniel had explained since the brouhaha started that the fund was meant to actually carry out developmental projects or perhaps complete some capital projects (even with less than 24 months to leave Okemosan oval office).
But, the state House of Assembly, particularly those labeled as G-15 from available records is having a contrary position, a situation that led to the popular House Resolution 167, which barred financial houses from given the crucial financial support to the raising of the fund. The Assembly had noted that the Executive arm could not have raised such bond without intimating the Assembly, particularly when their as being alleged discrepancies in the accounts of the state government's accountant general and auditor general of the state submitted to the House.
The Ogun Concerned Professionals viewed the position of government on the need to float the N60bn bond, and quite agreed with such step if the atmosphere had been conducive and appropriate. But, since the move has been trailed by controversy, particularly from the legislative quarters, whose primary concern is to over see the functions of the executive arm, the need to put our thinking cap on became persuasive, rather than confrontational on this matter.
The development has opened our minds back to the early years of this administration, when the issue of Public Private Partnership (PPP) almost became household name in the state. To remind government that the popular "Business Unusual" acronym was borne out of the fact the administration was of the strong view that unlike her predecessor, business of government should be handled by private sector, with the government providing enabling environment. The song then until now (when Daniel administration seems to be singing a different tune) is "government has no business in business"
From the foregoing, the Ogun Concerned Professionals observed with utmost curiosity the new agitation and clamour by our "Mr. Business Unusual" proponent to be going begging cap in hand soliciting support for the raising of the N60bn bond to execute developmental projects. If actually the Executive is sincere and have the genuine interest of Ogun indigenes at heart as it claimed, the theory of PPP should have been the last resort to this controversy (if at all it will happen).
We recall with nostalgia, the concession of Gateway Hotels (one of the legacy of our dear Ayekooto, the first civilian Governor, Late Chief Bisi Onabanjo) to some private investors last year. This is a typical example of Daniel's PPP at work. So, the question is why not apply the same concept to the execution of these "developmental projects" instead of rushing for the N60bn bond, which without being alarmist and immodest would still generate greater controversies in spending and accountability (the differences in the accounts of the state as presented before the House readily come to mind here)
Where is Governor Daniel's PPP for the Cargo-Airport project, Olokola Free Trade Zones, Railway project, Remo Int. Stadium, construction of Area J4, Ibiade, Makun-omi, Olokola road project? It is on record that the Cargo Airport project for example can not be completed in another 36 months even if all the N60bn is pump into it. So who is fooling who?
- 2 -
That investors from China would not come to the state if these projects are not executed with the N60bn is very unfortunate defense from government. We asked if the Chinese visited Malaysia or Dubai before developing their economies. Or do they visit Ghana before making in road as one of the fastest growing economies in Africa today.
If Gateway Hotels could be concession what stop others (listed above) from going through private partnership, if they are really money-spinning ventures. What if the projects hit the rocks, who shall be liable to the offsetting of the N60bn (definitely the incoming government, since government is continuous, the pro-N60bn supporters will echo, since they will also share from the "cake"). But, should it be so? We the Ogun Concerned Professionals say emphatic "NO".
The House of Assembly also raised the observation that the debt profile of the state is incoherent, as amount ranging between 10 and 15 Billion Naira is being speculated to be the total debt of the state, at least as at December 2007. Is any responsible government would still heads to NSE for the purpose of raising another 60bn without clearing the air on her debt profile? Is this part of Daniel's administration goal of "setting agenda for a secured future"? Omo ogun lets ruminate on this without sentiment or personal interest. Is NSE also morally right to have given tacit support to the bond move without a careful study of the accounts of the Ogun Sate government, particularly, when the move is being enveloped by controversy and confusion right from the State House of Assembly? Ogun Concerned Professionals recalled and remind Ogun sons and daughters the botch attempt by the NSE leadership to raise fund for the President of the United States of America (USA), Mr. Barack Obama during his campaign and the aftermath. Therefore, we know the antecedents of those backing the governor and we are watching what will become of the Ogun state move to get the N60bn.
If Ogun state government under Daniel administration is broke and governance could not be effectively carried out any longer, is it not appropriate to consolidate on what it is has been able to achieve in the last six years, rather than plunging the state into an unprecedented debt that will make our future unsecured. The little allocation coming from the Federal (as claimed) including the IGR which was very much publicized to have hit N1bn monthly should be used to consolidate the roads, health, education, water provision and other infrastructural needs of the state. Since government is continuous, it our candid view that incoming administration should be allowed to continue where Daniel will stop. It will allow for concentration, performance and effective running of governance just has it happened to this government in 2003 when it took the mantle of leadership.
The allegation raised by the opposition in the state and some Elders' of the ruling Peoples Democratic Party (PDP) that the government of Otunba Gbenga Daniel was aiming to get the N60bn for the purpose of settling debts accrued by the administration would be seen as true if the administration do not reconsider her PPP (government has no business in business) theory for the settlement of this N60bn debacle. It is the only factor that could settle score between the very assertive Ogun legislature and the agitating executive.
So, on Daniel N60bn bond; where is PPP?
Signed:
Harun Babatunde
`Tayo Sokoya
Idowu Samuel
Isiaq Adewunmi
PRESS RELEASE
Daniel N60bn Bond: Where is PPP?
Our attention has been drawn to the controversy generated by the move of the Ogun state Government to go to the Nigeria Stock Exchange (NSE) to raise N60bn bond. The State governor, Otunba Gbenga Daniel had explained since the brouhaha started that the fund was meant to actually carry out developmental projects or perhaps complete some capital projects (even with less than 24 months to leave Okemosan oval office).
But, the state House of Assembly, particularly those labeled as G-15 from available records is having a contrary position, a situation that led to the popular House Resolution 167, which barred financial houses from given the crucial financial support to the raising of the fund. The Assembly had noted that the Executive arm could not have raised such bond without intimating the Assembly, particularly when their as being alleged discrepancies in the accounts of the state government's accountant general and auditor general of the state submitted to the House.
The Ogun Concerned Professionals viewed the position of government on the need to float the N60bn bond, and quite agreed with such step if the atmosphere had been conducive and appropriate. But, since the move has been trailed by controversy, particularly from the legislative quarters, whose primary concern is to over see the functions of the executive arm, the need to put our thinking cap on became persuasive, rather than confrontational on this matter.
The development has opened our minds back to the early years of this administration, when the issue of Public Private Partnership (PPP) almost became household name in the state. To remind government that the popular "Business Unusual" acronym was borne out of the fact the administration was of the strong view that unlike her predecessor, business of government should be handled by private sector, with the government providing enabling environment. The song then until now (when Daniel administration seems to be singing a different tune) is "government has no business in business"
From the foregoing, the Ogun Concerned Professionals observed with utmost curiosity the new agitation and clamour by our "Mr. Business Unusual" proponent to be going begging cap in hand soliciting support for the raising of the N60bn bond to execute developmental projects. If actually the Executive is sincere and have the genuine interest of Ogun indigenes at heart as it claimed, the theory of PPP should have been the last resort to this controversy (if at all it will happen).
We recall with nostalgia, the concession of Gateway Hotels (one of the legacy of our dear Ayekooto, the first civilian Governor, Late Chief Bisi Onabanjo) to some private investors last year. This is a typical example of Daniel's PPP at work. So, the question is why not apply the same concept to the execution of these "developmental projects" instead of rushing for the N60bn bond, which without being alarmist and immodest would still generate greater controversies in spending and accountability (the differences in the accounts of the state as presented before the House readily come to mind here)
Where is Governor Daniel's PPP for the Cargo-Airport project, Olokola Free Trade Zones, Railway project, Remo Int. Stadium, construction of Area J4, Ibiade, Makun-omi, Olokola road project? It is on record that the Cargo Airport project for example can not be completed in another 36 months even if all the N60bn is pump into it. So who is fooling who?
- 2 -
That investors from China would not come to the state if these projects are not executed with the N60bn is very unfortunate defense from government. We asked if the Chinese visited Malaysia or Dubai before developing their economies. Or do they visit Ghana before making in road as one of the fastest growing economies in Africa today.
If Gateway Hotels could be concession what stop others (listed above) from going through private partnership, if they are really money-spinning ventures. What if the projects hit the rocks, who shall be liable to the offsetting of the N60bn (definitely the incoming government, since government is continuous, the pro-N60bn supporters will echo, since they will also share from the "cake"). But, should it be so? We the Ogun Concerned Professionals say emphatic "NO".
The House of Assembly also raised the observation that the debt profile of the state is incoherent, as amount ranging between 10 and 15 Billion Naira is being speculated to be the total debt of the state, at least as at December 2007. Is any responsible government would still heads to NSE for the purpose of raising another 60bn without clearing the air on her debt profile? Is this part of Daniel's administration goal of "setting agenda for a secured future"? Omo ogun lets ruminate on this without sentiment or personal interest. Is NSE also morally right to have given tacit support to the bond move without a careful study of the accounts of the Ogun Sate government, particularly, when the move is being enveloped by controversy and confusion right from the State House of Assembly? Ogun Concerned Professionals recalled and remind Ogun sons and daughters the botch attempt by the NSE leadership to raise fund for the President of the United States of America (USA), Mr. Barack Obama during his campaign and the aftermath. Therefore, we know the antecedents of those backing the governor and we are watching what will become of the Ogun state move to get the N60bn.
If Ogun state government under Daniel administration is broke and governance could not be effectively carried out any longer, is it not appropriate to consolidate on what it is has been able to achieve in the last six years, rather than plunging the state into an unprecedented debt that will make our future unsecured. The little allocation coming from the Federal (as claimed) including the IGR which was very much publicized to have hit N1bn monthly should be used to consolidate the roads, health, education, water provision and other infrastructural needs of the state. Since government is continuous, it our candid view that incoming administration should be allowed to continue where Daniel will stop. It will allow for concentration, performance and effective running of governance just has it happened to this government in 2003 when it took the mantle of leadership.
The allegation raised by the opposition in the state and some Elders' of the ruling Peoples Democratic Party (PDP) that the government of Otunba Gbenga Daniel was aiming to get the N60bn for the purpose of settling debts accrued by the administration would be seen as true if the administration do not reconsider her PPP (government has no business in business) theory for the settlement of this N60bn debacle. It is the only factor that could settle score between the very assertive Ogun legislature and the agitating executive.
So, on Daniel N60bn bond; where is PPP?
Signed:
Harun Babatunde
`Tayo Sokoya
Idowu Samuel
Isiaq Adewunmi
Friday, June 26, 2009
AC, AD reunited by common enemy
AC, AD reunited by common enemy
Politics Jun 24, 2009
Last Saturday Ibeju-Lekki Federal Constituency bye-election in which People’s Democratic Party (PDP) won has further amplified the arch rivalry between Action Congress AC and PDP in Lagos. AC did not participate in the poll following its candidate’s disqualification by the Court of Appeal sitting in Lagos over certificate scam. With AC candidate who was until the court judgment member of the House of Representatives, out of contest, it was a straight battle between PDP and Alliance for Democracy, AD.
http://www.vanguardngr.com/category/politics/
Politics Jun 24, 2009
Last Saturday Ibeju-Lekki Federal Constituency bye-election in which People’s Democratic Party (PDP) won has further amplified the arch rivalry between Action Congress AC and PDP in Lagos. AC did not participate in the poll following its candidate’s disqualification by the Court of Appeal sitting in Lagos over certificate scam. With AC candidate who was until the court judgment member of the House of Representatives, out of contest, it was a straight battle between PDP and Alliance for Democracy, AD.
http://www.vanguardngr.com/category/politics/
Niger Delta Militants
N/Delta Militants Divided Over N50bn Package - Yar’Adua May Shelve Visit To Bayelsa, Bin Laden Surrenders Weapons To JTF, Military Presence Remains, Amnesty Begins August 6
Okey Muogbo, Donald Ojogo & Bolaji Ogundele
Forty-eight hours after the presidential proclamation of amnesty to Niger Delta militants, confusion appears to be rocking militants’ camp over whether or not to accept the government’s N50 billion package...
Full story........http://www.tribune.com.ng/
Okey Muogbo, Donald Ojogo & Bolaji Ogundele
Forty-eight hours after the presidential proclamation of amnesty to Niger Delta militants, confusion appears to be rocking militants’ camp over whether or not to accept the government’s N50 billion package...
Full story........http://www.tribune.com.ng/
Where there's smoke, there's fire.
Fading of the Dollar's Dominance; Other Nations See Opening to Boost Their Currencies
ECB Injects $662 Billion into Banking System
Buffett: U.S. Economy in Shambles
Unemployment: The Hardest-Hit States
AAA: Weak Economy Will Zap Holiday Trips
UK: Pensioners Kidnap Financial Adviser and Torture Him
Ron Paul: Obama's "Goal" Is Economic Collapse
As China Hoards, Concern Grows About Recovery
Longshoremen Running Idle at Newport News (Virginia) Port "There's nothing," said P.K. Bransford, 55, one of the terminal's few full-time workers. "We used to have an average of a vessel a day. Now we're lucky to get one every two weeks."
Nightmarish Financial Numbers
ECB Injects $662 Billion into Banking System
Buffett: U.S. Economy in Shambles
Unemployment: The Hardest-Hit States
AAA: Weak Economy Will Zap Holiday Trips
UK: Pensioners Kidnap Financial Adviser and Torture Him
Ron Paul: Obama's "Goal" Is Economic Collapse
As China Hoards, Concern Grows About Recovery
Longshoremen Running Idle at Newport News (Virginia) Port "There's nothing," said P.K. Bransford, 55, one of the terminal's few full-time workers. "We used to have an average of a vessel a day. Now we're lucky to get one every two weeks."
Nightmarish Financial Numbers
N15 Million Scandal - Ogun Law Maker
--------Speaker’s aide threatens to shoot journalists.
A member of the Ogun State House of Assembly, Adekunle Adegboyega, was on Thursday arrested and quizzed for hours by operatives of the independent Corrupt Practices and other Related Offences Commission(ICPC) over an alleged N15 million constituency project scam.
The lawmaker popularly known as(Texaco), of the G15 section was accused of not executing the project billed for his constituency in Ewekoro Local Government.
In the petition before the commission, the lawmaker was alleged to have abandoned the borehole of Owowo Are and other projects for which the money was voted. He was alleged to have diverted the money to build a hotel at Adigbe area in Abeokuta .
He was later released on bail at the Ibadan , Oyo State office of the commission and told to return back on Monday.
At the Assembly complex on Thursday, a security aide of the Speaker, Tunji Egbetokun threatened to shoot journalists.
After the reporters had converged on the office of the Information Officer to the Assembly where they usually sit to observe the proceedings, the policeman came and attempted to send them out.
All the explanations offered by the journalists, who had earlier been accredited by the Information Officer fell on security operative’s deaf ears as he ordered them to leave and threatened to shoot any of them who refused to comply with his directive.
“ I will shoot you and nothing will happen. All of you, go out now”, he charged at the journalists, just as he further beckoned to some of his colleagues.
Defending the Finances of the State at the Assembly chambers, Commissioner for Finance, Kehinde Sogunle took the lawmakers on some tutorials on what accounting process was all about.
The lawmakers during what they later termed “ investigation of the State Finances”, displayed a lot of ignorance on principles of accounting system while quizzing the Commissioner.
Kehinde Sogunle was however patient enough to educate the lawmakers who by this time were confused on the applications of basic accounting terminologies such as ISPO, etc.
The sitting took a dramatic turn when the Commissioner was asked to remain on his feet while addressing the House but he stated that he was not medically fit to be on his feet for long. The Speaker House later adjourned until the health of the commissioner would allow him to stand while addressing them. He was asked to bring more documents.
A member of the Ogun State House of Assembly, Adekunle Adegboyega, was on Thursday arrested and quizzed for hours by operatives of the independent Corrupt Practices and other Related Offences Commission(ICPC) over an alleged N15 million constituency project scam.
The lawmaker popularly known as(Texaco), of the G15 section was accused of not executing the project billed for his constituency in Ewekoro Local Government.
In the petition before the commission, the lawmaker was alleged to have abandoned the borehole of Owowo Are and other projects for which the money was voted. He was alleged to have diverted the money to build a hotel at Adigbe area in Abeokuta .
He was later released on bail at the Ibadan , Oyo State office of the commission and told to return back on Monday.
At the Assembly complex on Thursday, a security aide of the Speaker, Tunji Egbetokun threatened to shoot journalists.
After the reporters had converged on the office of the Information Officer to the Assembly where they usually sit to observe the proceedings, the policeman came and attempted to send them out.
All the explanations offered by the journalists, who had earlier been accredited by the Information Officer fell on security operative’s deaf ears as he ordered them to leave and threatened to shoot any of them who refused to comply with his directive.
“ I will shoot you and nothing will happen. All of you, go out now”, he charged at the journalists, just as he further beckoned to some of his colleagues.
Defending the Finances of the State at the Assembly chambers, Commissioner for Finance, Kehinde Sogunle took the lawmakers on some tutorials on what accounting process was all about.
The lawmakers during what they later termed “ investigation of the State Finances”, displayed a lot of ignorance on principles of accounting system while quizzing the Commissioner.
Kehinde Sogunle was however patient enough to educate the lawmakers who by this time were confused on the applications of basic accounting terminologies such as ISPO, etc.
The sitting took a dramatic turn when the Commissioner was asked to remain on his feet while addressing the House but he stated that he was not medically fit to be on his feet for long. The Speaker House later adjourned until the health of the commissioner would allow him to stand while addressing them. He was asked to bring more documents.
Governor Fashola
One of the reasons why discipline is so lacking amongst our youths is the fact that our top schools were taking away from their original proprietors who were responsible for running these schools. The Catholic schools like St. Gregory College (est. 1928), St. Finbarrs College, Our lady of Apostles, Holy Child etc; Baptist Schools like Baptist Academy, Reagan Memorial etc; Methodist Schools like Igbobi College (est. 1932) Methodist Boys High School, Methodist Girls High School etc; Anglican schools like C.M.S. Grammar School, Bariga (est. 1859 and the oldest Grammar School in Nigeria) the 'sister' school Anglican Girls Grammar School etc; Muslim Schools like Ahmadiyya College Agege, Zumratu (sp?) etc are schools that have done the country proud in the past. They produced highly disciplined students in our society. Today, these schools in Lagos and their counterparts all over the country are now shadows of themselves. These are Missionary Schools established and these oyinbos even helped us establish hospitals along with them.I SEIZE THESE OPPORTUNITY TO CALL ON GOV. FASHOLA OF LAGOS STATE TO PLEASE RELEASE THESE SCHOOLS BACK TO THEIR ORIGINAL PROPRIETORS TO RUN AND HOPEFULLY BRING DISCIPLINE BACK TO OUR SOCIETY. The reason why they were taken away in the first place was to destroy the basic structure the Southerners were using to push forward and the North was looking for a way to bridge the gap. Our 'dadandini dundee united' Southern leaders would not see anything wrong in this act and allow it to happen. Well, they would, wouldn't they? They always send their children to top schools in England and America so, its of no concern what happen to these schools. WHAT A SHAME!!!!!!! !Gov. Fashola would win my vote and votes of millions like me, Christians and Muslim alike come next election if he could carry out this single act. One of the major reasons why our society is falling apart is lack of discipline which these schools used to fight in the past.ThanksAyoade Adejumo
Saturday, June 20, 2009
Total Takedown
Are we gradually becoming a totalitarian State? Below link can give you a little idea
Obama Orders “Total Takedown” Of US Federal Reserve Bank
Obama Orders “Total Takedown” Of US Federal Reserve Bank
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