Even with hundreds of billions of dollars being shoveled out to Washington they still cannot right the system. Lowering interest rates won't and hasn't worked. The problem is banks simply won't lend to business or the public in amounts necessary to keep the system afloat. They are more interested in dividends for shareholders, bonuses, gobbling up banks in trouble and shoring up balance sheets. Central banks and Treasuries lend these banks taxpayer funds and they cannot even force the banks to lend. France has the right idea - lend or you get nationalized. Thus far it's been a standoff, but in the midst of a recession that impasse cannot last indefinitely. The real answer is to allow these Illuminist banks to fail. Collateral being used by banks and finance houses is next to worthless, so why do we accept it? The problem is the interconnection between banking, Wall Street and Washington. Now every elitist institution is too big to fail. This is one vast margin call not being met by the malefactors, but by the American people, involuntarily we may add. We are destined for depression, chaos and probably a major war and Americans sit around dumbfounded caught in the headlights. When will America wake up? All we can do now is pray for them.Bob has been advising his clients to get out of debt and stay liquid due to the Illuminist created world financial crisis.
Our contacts continue to tell us Iran is being given an ultimatum to stand down on their nuclear program or there will be war. Iran is being subjected to a rapid escalation of diplomatic pressure and punitive sanctions, which are backed by preparations for military strikes.
Thus we expect a US-Iran confrontation as soon as Obama is sworn in. We do not believe that Iran will comply. Israel will attack and WWIII will begin. A draft will immediately begin and American boys and girls will go to their deaths.
Obama's top Middle East advisor, Dennis Ross, is a neocon hawk, and worked closely with with Paul Wolfowitz and other Zionist Illuminists.
We believe the move to war will be kicked off with a blockade Of Iranian oil exports, which, of course, will lead to war. The US and Israel plan a sneak attack the same as Japan was allowed to do at Pearl Harbor. They will attack both nuclear and conventional military infrastructure.
Reports and plans on these actions have been laid out to the Pentagon by Rand Corp., NGO-Illuminist think tank, and by Michael Ruben, from the neocon American Enterprise Institute, which promoted and planned the 2003 invasion of Iraq. Top Obama advisers Anthony Lake, Susan Rice, and Richard Clarke all agree with the plans. Plans were submitted as well by pro-Israel think tank Institute for Near East Policy. Obama defense advisor Richard Danzig, former Navy Secretary under Clinton agrees with the program for WWIII. All of these plans and discussions are of course secret and a rush similar to the Iraq invasion will attempt to be pulled off. It is time to think about getting your children and grandchildren out of the country.
Tuesday, November 25, 2008
From well known and respected Bob Chapman who publishes and edits The International Forcaster
Steve thechristianobserver.blogspot.com This blog is not affiliated with www.christianobserver.org.
Wednesday, November 19, 2008
Every day there is more breaking news, proof Wall Street's greed is already back to "business as usual" and in denial, grabbing more and more from the new "Bailouts-R-Us" bonanza of free taxpayer cash and credits, like two-year-olds in a toy store at Christmas -- anything to boost earnings, profits and stock prices, and keep those bonuses and salaries flowing, anything to blow a new bubble.
Scan these 30 "leading indicators." Each problem has one or more possible solutions, but lacks unified political support. Time's running out. We're already at the edge. Add up the trillions in debt: Any collective solution will only compound our problems, because the cumulative debt will overwhelm us, make matters worse:
America's credit rating may soon be downgraded below AAA
Fed refusal to disclose $2 trillion loans, now the new "shadow banking system"
Congress has no oversight of $700 billion, and Paulson's Wall Street Trojan Horse
King Henry Paulson flip-flops on plan to buy toxic bank assets, confusing markets
Goldman, Morgan lost tens of billions, but planning over $13 billion in bonuses this year
AIG bails big banks out of $150 billion in credit swaps, protects shareholders before taxpayers
American Express joins Goldman, Morgan as bank holding firms, looking for Fed money
Treasury sneaks corporate tax credits into bailout giveaway, shifts costs to states
State revenues down, taxes and debt up; hiring, spending, borrowing add even more debt
State, municipal, corporate pensions lost hundreds of billions on derivative swaps
Hedge funds: 610 in 1990, almost 10,000 now. Returns down 15%, liquidations up
Consumer debt way up, now at $2.5 trillion; next area for credit meltdowns
Fed also plans to provide billions to $3.6 trillion money-market fund industry
Freddie Mac and Fannie Mae are bleeding cash, want to tap taxpayer dollars
Washington manipulating data: War not $600 billion but estimates actually $3 trillion
Hidden costs of $700 billion bailout are likely $5 trillion; plus $1 trillion Street write-offs
Commodities down, resource exporters and currencies dropping, triggering a global meltdown
Big three automakers near bankruptcy; unions, workers, retirees will suffer
Corporate bond market, both junk and top-rated, slumps more than 25%
Retailers bankrupt: Circuit City, Sharper Image, Mervyns; mall sales in free fall
Unemployment heading toward 8% plus; more 1930's photos of soup lines
Government policy is dictated by 42,000 myopic, highly paid, greedy lobbyists
China's sees GDP growth drop, crates $586 billion stimulus; deflation is now global, hitting even Dubai
Despite global recession, U.S. trade deficit continues, now at $650 billion
The 800-pound gorillas: Social Security, Medicare with $60 trillion in unfunded liabilities
Now 46 million uninsured as medical, drug costs explode
New-New Deal: U.S. planning billions for infrastructure, adding to unsustainable debt
Outgoing leaders handicapping new administration with huge liabilities
The "antitaxes" message is a new bubble, a new version of the American dream offering a free lunch, no sacrifices, exposing us to more false promises.
Will the next meltdown, the third of the 21st Century, trigger a second Great Depression? Or will the 2007-08 crisis simply morph into a painful extension of today's mess to 2011 and beyond, with no new bull market, no economic recovery as our new president hopes?
Perhaps some of the first 29 problems may be solved separately, but collectively, after building on a failed ideology, they spell disaster. So listen closely to "leading indicator" No. 30:
At a recent Reuters Global Finance Summit former Goldman Sachs chairman John Whitehead was interviewed. He was also Ronald Reagan's Deputy Secretary of State and a former chairman of the N.Y. Fed. He says America's problems will take years and will burn trillions.
He sees "nothing but large increases in the deficit ... I think it would be worse than the depression. ... Before I go to sleep at night, I wonder if tomorrow is the day Moody's and S&P will announce a downgrade of U.S. government bonds." It'll get worse because "the public is not prepared to increase taxes. Both parties were for reducing taxes, reducing income to government, and both parties favored a number of new programs, all very costly and all done by the government."
Reuters concludes: "Whitehead said he is speaking out on this topic because he is concerned no lawmakers are against these new spending programs and none will stand up and call for higher taxes. 'I just want to get people thinking about this, and to realize this is a road to disaster,' said Whitehead. 'I've always been a positive person and optimistic, but I don't see a solution here.'"
We see the Great Depression 2. Why? Wall Street's self-interested greed. They are their own worst enemy ... and America's too.
January 2006: Fortune. Interview with Richard Rainwater. "This is the first scenario I've seen where I question the survivability of mankind." He's 112th on the Forbes 400, worth $2.3 billion: "Most people invest and then sit around worrying what the next blowup will be. I do the opposite. I wait for the blowup, then invest." He waited with a half-billion-dollar war chest.
*Paul B. Farrell, MarketWatch, November 19, 2008
Saturday, November 08, 2008
To Fleece: to deprive of money or belongings by fraud, hoax, or the like; swindle:
Is socialism too strong a word? Consider one of its definitions from dictionary.com and tell me it is something other than Mr. Obama's economic philosophy: "A theory or system of social reform which contemplates a complete reconstruction of society, with a more just and equitable distribution of property and labor."
Or how about Communism? "Com"mu*nism\, n. [F. communisme, fr. commun common.] A scheme of equalizing the social conditions of life; specifically, a scheme which contemplates the abolition of inequalities in the possession of property, as by distributing all wealth equally to all, or by holding all wealth in common for the equal use and advantage of all."
Who decides how the wealth is distributed and who holds the wealth in common? The supreme leader and his fascist corporate backers through Democratic legislation.
The majority of witness testimony during recent hearings before the House Committee on Education and Labor showed that congressional Democrats intend to address income and wealth inequality through redistribution.Where have you heard this before?