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mercredi 19 mars 2008

Émission de L'Autre Monde du 20 mars 2008: L'eau/ Tibet/ Iraq après 5 ans/Kosovo/ Spitzer, Bear Stearn et la FED





Émission de L'Autre Monde du 20 mars 2008: L'eau/ Tibet/ Iraq après 5 ans/Kosovo/ Spitzer, Bear Stearn et la FED


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L'Autre Monde 20 mars 2008
60 min / Radio de l'UQAM, CHOQ FM

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- Cette semaine nous parlons de la journée internationale de l'eau et de ses enjeux, le Tibet, Kosovo, et de vaporisation de la population avec des pesticides aux É-U.

- Nous faisons un bilan de l'Iraq 5 ans après l'invasion et de l'économie, des banques qui s'effondrent et particulièrement de Bear Stern et les lien avec l'affaire d'Eliot Spitzer, la FED et JP Morgan.

*****

- La semaine prochaine nous
recevrons Gilles Parent ND.A. du groupe Action Fluor Québec pour nous parler des dangers de la fluoration de l'eau et des produits dentaires. Ceci sera la première partie d'une série sur le sujet qui seront à suivre plus tard sur ce sujet sérieux et complexe.


Hyperliens vers les sources des informations discutées sur l'émission d'aujourd'hui:


*****The Assassination of New York Governor Eliot Spitzer*****


http://www.youtube.com/watch?v=GMo7T9t0Gzk





Most people have the sense that there was something
bizarre and surreal about the sudden coordinated
FBI and US news media attack on New York Governor
Eliot Spitzer.

After all, unproven allegations about how he may have
chosen to spend his own money on his own time hardly
seems a worthy subject of front page news for a week
straight.

Meanwhile, the US news media remained characteristically
clueless about why Spitzer was taken out.

It's simple.

He had the goods on Bush adminstation colusion with
predatory lenders and was preparing a case that would
have tied the administration directly to wide spread
fraud and criminality in the lending business.


« Marchandisation de l’eau : la nouvelle offensive du “bio-capital” »

La communauté internationale célèbre le 20 mars 2008, sous
   l'égide de l'ONU, la 15ème « Journée mondiale de l'eau ».
   L'absence d'accès à l'eau affecte 1,1 milliard d'êtres
   humains ; l'absence de moyens sanitaires de base touche
   2,6 milliards de personnes. Paradoxalement, alors que les
   premières étapes de la marchandisation de ce bien commun ont
   suscité de fortes mobilisations populaires sur les cinq
   continents, le mouvement mondial de libéralisation des
   marchés de l'eau, initié dans les années 1980, semble
   s'accélérer.

Marchandisation de l’eau : la nouvelle offensive du "biocapital"

par Marc Laimé

Après l’échec relatif de la première phase de libéralisation forcée des "marchés de l’eau", initiée dans les années 1980 par les institutions financières internationales et les entreprises transnationales du secteur, symbolisée par la signature de dizaines de contrats de "Partenariat-Public-Privé", une seconde offensive est en cours. Elle vise cette fois, sur fond de dérèglement climatique, de dégradation croissante des ressources en eau, de pénuries et de surconsommation, l’appropriation marchande de la ressource elle-même et de sa gestion. Ces perspectives d’exploitation du risque écologique planétaire signent l’émergence d’un nouveau « biocapital ».

Table des matières


Etat d’urgence au Tibet

lundi 17 mars 2008

Etat d’urgence au Tibet

Après les violences de la semaine dernière à Lhassa, l’armée a pris le contrôle de la capitale tibétaine. Les manifestations des moines bouddhistes, à l’occasion du 49e anniversaire de l’exil du dalaï-lama à Dharamsala (en Inde), ont fait plusieurs morts : quatre-vingt selon les représentants tibétains en exil, treize selon les autorités chinoises. Impossible d’avoir une idée précise. De toute évidence, les victimes se comptent parmi les religieux tibétains, mais aussi parmi les habitants hans et huis, accusés par les manifestants de colonisation. Le dalaï-lama a rappelé le 16 mars que le « gouvernement en exil » se prononçait en faveur d’une réelle autonomie, et non de l’indépendance (lire « Paradoxale “voie du milieu” au Tibet »). Bien que le Tibet figure officiellement parmi les Régions autonomes chinoises, il ne dispose d’aucune liberté : non seulement la religion y est sous contrôle — comme dans l’ensemble de la Chine —, mais la culture est écrasée (sauf le folklore), et l’implantation des non-Tibétains (des Hans, principalement, et des musulmans huis) favorisée. Le président chinois Hu Jintao, qui était secrétaire du parti communiste chinois au Tibet lors des manifestations réprimées en 1989, a renforcé cette pression, avec la construction du train Pékin-Lhassa, outil de désenclavement extraordinaire, mais également aide efficace à l’implantation han.

Le prochain numéro du Monde diplomatique, en vente le 1er avril, publiera une analyse des mouvements tibétains.


Deadly violence in Tibet as Buddhist monks lead protests

Tibet's exiled spiritual leader, the Dalai Lama, said the protests were a result of public resentment of the "brute force" employed by China to maintain control of the region for more than 50 years.

The Chinese will crush this rebellion with every bit of force they can muster.

A successfully defiant Tibet can lead to other successfully defiant regions, which have been absorbed by China, and China does not want to see this happening.


China hits back at US on rights, says Iraq war a disaster

China on Thursday accused the United States of human rights hypocrisy, as it branded the US invasion of Iraq the "greatest humanitarian disaster" of the modern world.


Ottawa reconnaît le Kosovo

Le Canada reconnaît officiellement l'indépendance du Kosovo, a annoncé mardi le ministre canadien des Affaires étrangères, Maxime Bernier.

« L'évolution du Kosovo vers un État démocratique et multiethnique qui respecte totalement les droits de la personne est essentielle à la paix, à la stabilité politique et au progrès économique dans les Balkans », a déclaré Maxime Bernier par voie de communiqué.

Plusieurs puissances occidentales, dont les États-Unis et plusieurs pays d'Europe, ont reconnu l'indépendance du Kosovo en dépit du désaccord de la Serbie et de la Russie.

Le Canada s'était quant à lui abstenu. Plusieurs observateurs avaient attribué cette retenue au désir d'Ottawa de ne pas apporter d'eau au moulin des souverainistes québécois en reconnaissant la déclaration unilatérale d'indépendance de cette ex-province yougoslave. Rappelons cependant qu'Ottawa avait appuyé, en avril 2007, le plan de l'envoyé spécial de l'ONU pour le Kosovo.

Questionné sur l'impact de cette reconnaissance sur les aspirations souverainistes au Québec, le ministre a pris soin de préciser qu'il ne s'agissait pas d'un « précédent » qui s'applique au Québec. Maxime Bernier a ajouté que le Kosovo est un cas unique qui ne peut être comparé à la situation qui prévaut au Québec.



Canada's violent 'snow rage' erupts






*****

Plan To Spray Toxic Biological Chemicals Over San Francisco Announced

Global Research

The chemical to be sprayed is classified by the EPA as a "pesticide" and the plan is to douse cities with this chemical designed to stick on everything for 90 days or longer. This application is not a one time event, but will continue every 1-3 months for as long as five years. The pesticide to be sprayed is not designed to harm the light brown apple moth's who it is designed for, but merely to confuse its mating habits. While harmless to moths, the pesticide has been documented to harm humans.

The Pentagon is slated to release a suspected toxicant in Crystal City, Virginia this week, ostensibly to test air sensors.

The operation is just the latest example of the Defense Department’s long history of using service members and civilians as human test subjects, often without their consent or awareness.

Gas chambers in Maryland

Wray C. Forrest learned about the US military’s human-testing program the hard way. In 1973, the Army sent then 23-year-old Forrest to its Edgewood Arsenal chemical-research center in Maryland, promising patriotic service and a four-day work week.

Instead, he became one of roughly 6,720 soldiers used as Edgewood Arsenal test subjects between 1950-1975.

A total of 254 different chemicals were researched on soldiers at Edgewood, and Forrest notes, "We were never informed as to exactly what we were being given. We also did not sign any informed consent prior to the testing. This was a direct violation of the Geneva Convention rules for the use of humans in chemical and drug experiments/research."

The Edgewood Arsenal facility played a role in WWII human subject testing as well. Roughly 4,000 US soldiers were used as human guinea pigs in chemical research which often took place in gas chambers.

Between 1949 and 1969, for example, the Army sprayed bacterial tracers or simulants on unsuspecting populations in hundreds of biological warfare tests. According to the GAO: "Some of the tests involved spraying large areas, such as the cities of St. Louis and San Francisco, and others involved spraying more focused areas, such as the New York City subway system and Washington National Airport."

No coherent attempt was made to warn those affected or to offer follow-up medical care.

Between 1952-1975, the CIA tested LSD and other psychochemical agents on "an undetermined number of people without their knowledge or consent."

No coherent attempt was made to offer follow-up information or care.

Over 235 atmospheric nuclear tests and experiments were conducted on roughly 210,000 personnel affiliated to the US Defense Department from 1945-1962. A further 199,000 "were exposed to radiation through work."

No coherent attempt was made to warn those affected or to offer follow-up medical care.

One of the best known examples of US military human-testing is Project 112, whereby the Pentagon used biological/chemical agents on 5,842 service members in secret trials conducted over a ten-year period (1962-73).

Project 112, and the affiliated Project SHAD, tested everything from Sarin nerve agent to an E. coli simulant aboard Navy ships and in land trials. Tests were conducted in six states (Alaska, Florida, Georgia, Hawaii, Maryland, Utah) Canada and Britain and often without the consent or awareness of those exposed.

Breaking the Nuremberg Code: The US Military’s Human-Testing Program Returns

Watch Heather Wokusch talk about her latest article.

http://www.youtube.com/watch?v=FH7WVRJogGY





Économie, Bear Stern, la FED, JP Morgan et Eliot Spitzer











How the markets really work

http://www.youtube.com/watch?v=SJ_qK4g6ntM





Tent cities have sprung up outside Los Angeles as people lose their homes in the mortgage crisis.

http://www.youtube.com/watch?v=CnnOOo6tRs8





'Ontario residents only' at Tent City

Tent City residents gather as the city of Ontario starts the process of sorting out who may stay and who must leave. The city issued wristbands - blue for Ontario residents, who may stay, orange for people who need to provide more documentation, and white for those who must leave. The aim is to reduce the number of people living there from over 400 to 170.

The $200 billion bail-out for predator banks and Spitzer charges are intimately linked

While New York Governor Eliot Spitzer was paying an 'escort' $4,300 in a hotel room in Washington, just down the road, George Bush's new Federal Reserve Board Chairman, Ben Bernanke, was secretly handing over $200 billion in a tryst with mortgage bank industry speculators.

Both acts were wanton, wicked and lewd. But there's a BIG difference. The Governor was using his own checkbook. Bush's man Bernanke was using ours.

More To The Rise and Fall of Elliot Spitzer Than Meets the Eye

The theme of a moralizing, self-righteous politico pointing his finger into a news camera and Pharisaically grandstanding to the rest of the world while on the sly he was busying himself with the very business he was tasked with destroying is almost as old as the oldest profession itself.

However, information surrounding this case indicates there is much more to it than simply issues of hypocrisy and infidelity, although they certainly play a part. And once again-surprise, surprise-what it reveals is the hidden hand of that troublesome little experiment in Jewish self-rule violently nestled on the eastern shores of the Mediterranean known as the state of Israel.

Fed Prints Another $200 Billion Out Of Thin Air

The U.S. Federal Reserve said on Tuesday that with pressure mounting again in financial markets, it was expanding a securities lending program and will accept a broader range of securities as collateral.

Which drives down the value of the dollar even faster.

Fed rescue of Bear Stearns raises specter of Depression-era crash

Invoking a little-used provision added to the Federal Reserve Act in 1932, at the height of the Great Depression, the US central bank agreed to allow the Federal Reserve Bank of New York to insure an infusion of credit to Bear Stearns by JP Morgan Chase. Under the terms of the "secured loan facility," to extend for up to 28 days, the risk of a default by Bear Stearns will be borne by the Federal Reserve Bank of New York, not JP Morgan Chase. The latter will serve essentially as a conduit for the cash provided by the US central bank.

JPMorgan Acts to Buy Ailing Bear Stearns at Huge Discount

Bear Stearns, facing collapse because of the mortgage crisis, agreed Sunday evening to be bought by JPMorgan Chase for a bargain-basement price of less than $250 million, the two companies announced.

A deal for Bear Stearns would end the independence of one of Wall Street's most storied firms and help halt a sweeping panic that set in at the end of last week, causing Bear Stearns's stock to swoon 47 percent on Friday.

Stripped Bear

A CENTURY after John Pierpont Morgan bailed out Wall Street, his bank is at it again. In a dramatic move on Friday March 14th, the Federal Reserve Bank of New York and JPMorgan Chase made emergency funding available to Bear Stearns after other market players lost confidence in the beleaguered investment bank as a trading partner. As the credit crunch has deepened and broadened, the worst fear of many on Wall Street has been the collapse or forced rescue of a big bank or broker. That moment is now upon them.

Who Traded 55,000 Bear $30 Puts Tuesday?

This past Tuesday, when Bear Stearns(BSC - Cramer's Take - Stockpickr) was trading around $65 a share, there was huge put volume in the March $30 strike.

Over 55,000 contracts traded that day at an average price of 15 cents a contract. This is an extremely unusual trade in terms of the number of contracts and how far out-of-the money those options were at the time. This begs the question of why someone would execute such a transaction.

Paulson admits deregulation has failed us all

http://www.marketwatch.com/news/story/paulsons-lament-deregulation-has-been/story.aspx?guid=%7B4AEF15AC%2D3966%2D4656%2D8108%2DC96712A88D68%7D

World Markets Slide in Wake of Bear Stears Collapse -- Oil and Dollar Hit New Highs, Lows

Global markets plunged Monday on news that JPMorgan Chase, backed by the U.S. government, had to rescue troubled Bear Stearns and investors struggled to gauge how much worse financial markets could get.

Welcome to the Future

Last Friday we got a taste of what the future is likely to be like as we make our way further into the belly of the second great depression. The Fed rushed to bail out a venerable Wall Street institution, which was rumored to be insolvent. Sunday evening, that rumor was confirmed to be true, as Bear Stearns agreed to sell itself to JP Morgan for a paltry $2 per share. Two dollars! This for a firm that was trading at $170 just over a year ago, and was as high as $54 just Friday! If Bear Stearns is only worth $2 per share, how can we possibly say with any confidence what other "investment banks" are worth?

Will Bush Declare a Bank Holiday?

And who's next after bankrupt Bear, Stearns? Lehman Brothers? They can all count on a bailout. As a prominent German economist told me this weekend, the central bank will ignite global hyperinflation rather than let Wall Street and the big banks go down. That is, the counterfeiter to the power elite, the Federal Reserve, and its allies in the imperial satellite states, will impoverish us and the world to try to save the state-connected rich. No wonder the intellectuals employed by the Rockefeller World Empire, the Kochtopus, etc. love the Fed, and oppose Ron Paul and everyone else who tells the truth about central banking. (Thanks to Tom Lombardi.)

F.D.R.'s Safety Net Gets a Big Stretch

It was an old-fashioned bank run that forced Bear Stearns to turn to the government for salvation on Friday. The difference is that Bear Stearns is not a commercial bank, and is therefore not eligible for the protections those banks received 75 years ago when Franklin D. Roosevelt halted bank runs with government guarantees.

America was conned - who will pay?

Real wages have been growing slowly; at just 1.6% a year on average over the latest upswing, well down on the experience of earlier decades. Business, of course, needs consumers to carry on spending in order to make money, so a way had to be found to persuade households to do their patriotic duty. The method chosen was simple. Whip up a colossal housing bubble, convince consumers that it makes sense to borrow money against the rising value of their homes to supplement their meagre real wage growth and watch the profits roll in.

As they did - for a while. Now it's payback time and the mood could get very ugly. Americans, to put it bluntly, have been conned. They have been duped by a bunch of serpent-tongued hucksters who packed up the wagon and made it across the county line before a lynch mob could be formed.

Leading Economic Writer: Financial Meltdown A "Gigantic Fraud"

A leading economic journalist has described the current financial crisis as a "gigantic fraud", the fallout of a deliberate and preconceived profit agenda to enslave the middle classes in a debt bubble.

Of course, it only works if you agree to play the game by the rules they made up.

The Buck Stops Where?

In the credit market panic that began in August, we have now reached the point of maximum danger: A global run on the dollar that could become a rout. As the Federal Reserve's Open Market Committee prepares to meet tomorrow, this should be its major concern.

Yet the conventional wisdom -- on Wall Street and in Washington -- continues to be precisely the opposite. In this view, the Fed is "behind the curve" and needs to cut interest rates even faster and further than it has. Never mind that this is precisely the path the Fed has followed since August, yet the crisis has grown worse and now bids to tank the larger economy. Does it make sense to do more of what isn't working?

It is time to face facts.

There is nothing the Federal Reserve can do that will not make the problem worse. The Federal Reserve is a legal counterfeiting operation, and therefore all they can actually do is more counterfeiting! But that is what got us into this mess in the first place!

We are going to have a crash. Time to accept it and get ready for it. We are in survival mode. The banks and government are not here to take care of you. They are taking care of themselves which is why their idea of a fix is to devalue the money you are holding in order to print up a bunch of new cash to give to their buddies.

The GOOD news is that the crash will NOT last forever, and we will come out the other side with new possibilities before us. Even better, it is quite likely that a financial crash will take the debt-crippled Federal Government with it, and we will have an historic opportunity to create something a bit better. The time to plan for this is now.

Bernanke Saves Bear Stearns While Americans Live In Tents

In a very real sense, the Federal Reserve has just perpetrated the biggest land grab in the last 100 years by trading worthless paper for real estate. Now good people, United States citizens, having been sold out by their government and stripped of their homes and property, must live in tents and shanties, while criminal, predatory bankers get rich and fat off of the sweat and effort of our country

Bush's "base" has never been the American working person, working longer hours for less money, and desperately trying to make sure the rent gets met.

His base has always been the wealthiest of the wealthy, and those people he was able to hoodwink into thinking that he cared for a second about the people who really make this country work, were terribly mistaken.

Now, many of those true believers are finding out, in the harshest way possible, that their dream of this President and his minions actually doing anything improve the quality of life for most Americans has morphed into a very real nightmare.

Oil hits record over $111 a barrel as dollar slumps

Oil jumped to a record above $111 a barrel on Monday, as a surprise weekend cut in the Federal Reserve discount rate and the fire sale of stricken U.S. investment bank Bear Stearns sent the dollar to all-time lows.

Wall Street fears for next Great Depression

One UK economist warned that the world is now close to a 1930s-like Great Depression, while New York traders said they had never experienced such fear. The Fed's emergency funding procedure was first used in the Depression and has rarely been used since.

And, as a side note, it didn't work in 1930.

Financial Firms Face a "New World Order"

Financial firms face a "new world order" after a weekend fire sale of Bear Stearns and the Federal Reserve's first emergency weekend meeting since 1979, research firm CreditSights said in a report on Monday.

Global "Oil Shock" Rattles World Stock markets

Roughly $7 trillion has been wiped from world stock markets since the beginning of the year amid fears of a severe US economic recession and financial institutions reporting more mega losses. "The market crisis will preoccupy us well into 2008," he said German Finance Minister Peer Steinbrueck on Feb 15th. "The financial risks securitized by banks contained packaged explosives," and he accused rating agencies of having a conflict of interest in the role they played in the process.

Jim Rogers would abolish the Federal Reserve!

http://www.youtube.com/watch?v=lTXEWh2yT_g





IMF's Lipsky warns of 'unthinkable' in global credit crisis

The International Monetary Fund (IMF) today warned authorities worldwide to "think the unthinkable" in planning to cope with a mounting crisis in the global financial system.

Closer to a Financial Meltdown

Last night, when Ben Bernanke cut the discount rate ... made a loan of $30 billion to cement the Bear Stearns buy-out ... and flung open the Fed's coffers to the next major investment banks that may be on the brink of failure ... he must have thought that investors around the world would applaud his actions.

Not quite!

Among investment banks that do not report to the Fed, the biggest players are Lehman Brothers, Goldman Sachs, Morgan Stanley and Merrill Lynch.

And among those who do report to the Fed, the five dominant players in derivatives that I mentioned a moment ago are Citibank, Bank of America, Wachovia, HSBC and the biggest of them all: JPMorgan Chase.

We believe all are vulnerable, in varying degrees, to the kind of crisis that struck Bear Stearns last week.

We believe JPMorgan Chase could ultimately be the most vulnerable.

And we believe this may help explain why JPMorgan Chase is the Wall Street firm that's buying Bear Stearns. If they didn't, and Bear Stearns defaulted on its derivatives, JPMorgan is the firm that would have the most to lose.

But you don't have to take our word for it. Nor do you have to look very far to validate our view. All you have to do is ...

  • Click on this link to pull up the latest derivatives report by the U.S. Comptroller of the Currency (OCC) ...
  • Scroll down (about 24 pages) to Table 1, "Notional Amount of Derivatives Contracts" ...
  • Take one look at who's at the top of that chart — JPMorgan Chase — and see for yourself the unimaginably large quantities of derivatives it is trading.

Wall Street rallies to aid Lehman

Wall Street's leading investment banks have rallied around ailing rival Lehman Brothers after the Federal Reserve Bank of New York urged them to support the institution in order to try and preserve financial stability.

Jim Rogers on the Bear Stearns bailout

On why Bear Stearns was bailed out:

You know the reason they did it this way was because, if Bear Stearns had to declare bankruptcy, you'd realize that Bear Stearns paid out billions of dollars in bonuses in January - six weeks ago. If he let them go into bankruptcy, they all would have had to send back their bonuses.

This is what they're doing, they're doing it so they don't have to give back their bonuses. That's why they didn't put them into bankruptcy. Jamie Dimon has gotten a great deal because the Federal Reserve is paying for it. The Federal Reserve is using taxpayer money to buy a bunch of Bear Stearns traders' Mazeratis.

Goldman Sees `Explosive' Commodity Rallies, $175 Oil

Commodities may have ``explosive rallies'' in the next couple of years, with crude oil rising to $175 a barrel, according to Goldman Sachs Group Inc.

Commodities are in their seventh year of gains as underinvestment in refineries, mines and land sent prices for oil, gold, platinum and wheat to records. More natural resources are controlled by political entities than at any time since the 17th century, according to the Goldman report.

Leading Economist: Dollar Faces Outright Collapse

Peter Schiff, a dollar-bear at Security Pacific Capital, told the London Telegraph that the greenback faced the danger of outright collapse as countries in Asia and the Middle East mull plans to break their dollar pegs, which are fueling inflation across the region.

When this nation was started, it was founded on a monetary system of fixed value. The dollar is, as originally defined, a weight measure of silver, 371.25 grains, to be exact. Our American silver dollars are actually heavier, since other metals were added for durability. But that 371.25 grains of silver WAS the dollar, matching in weight an unbroken chain of accepted monetary units that reached back through the Spanish Milled Dollar, the Dutch Daller, back to the German Thaler; the product of a silver mine which sold its product in coins of an exact weight. The Coinage Act of 1792 defined our dollar to exactly match in weight the silver dollars in use around the world, and then defined the gold dollar to be that amount of gold which would equal the worth of silver in a silver dollar, 24.75 grains, 1/15 the weight of the silver in a silver dollar.

When you, as a citizen, hold a silver dollar or a gold dollar in your hand, you hold that actual worth of metal. Nothing the government can do can change the worth of the money in your control.

But greedy bankers and corrupt politicians pulled a fast one over Christmas holiday back in 1913, suspended the requirement for a Quorum, and voted in the Federal Reserve Act. Later that same year, the 16th Amendment was falsely declared ratified, allowing a direct non-apportioned tax on the income of Americans, to cover the ocming debts.

The swindle of the system is simple. The Federal Reserve Bank hires the US Treasury to print up some money. The Federal Reserve only actually pays the treasury for the cost of the printing, they do NOT pay $1 for each 1$ printed. But the Federal Reserve turns around and loans out that money (or credit line) to banks at full face value, those banks which have exhausted their deposits then loan that Federal Reserve fiat money to you, and you must repay it in the full dollar value (plus interest) in work product, even though the Federal Reserve printed that money for pennies, or created it out of thin air in a computer.

As the Federal Reserve overprints more money, the money supply inflates, and too much money starts chasing too few goods and services, which means prices go up. But contrary to the charade put on by the Federal Reserve, inflation doesn't just come and go due to some arcane sorcery. The Federal Reserve can halt inflation any time it wants to by simply shutting down those printing presses. It therefore follows that both inflation and recession are fully under the control of the Federal Reserve. This means the cycle of inflation and recession is an intentional one; a gigantic heartbeat that pumps paper certificates out to the working class, while pumping real wealth in to the owners of the banks.

Treasury Secretary refuses actions to strengthen dollar

On being asked if the government will step in to bail out any additional firms, Paulson refuses to "speculate" on what "might happen," but insists: "Our focus, our priority... No. 1 priority, is the stability of our financial systems."

"What we're working to do," he continues, "is to minimize the impact of what's going on in housing, what's going on in the capital markets, on the real economy."

"But," pushes Wallace, "isn't the result of this that U.S. taxpayers might end up holding billions of dollars in bad mortgage securities?"

What the banks are doing, with the aid of the government, is looting your tax dollars to prop up their failures, and sticking you with their debts.

Fed 3/4 point rate cut shoves Dow back up

But the Fed is running out of rates TO cut, so this trick cannot continue to work.

EU leaders issue rare euro rate warning

European Union leaders on Friday issued a rare statement of collective concern about the damaging effects on Europe's economic growth of the strength of the euro on foreign exchange markets.

Zuckerman Says U.S. Economy May Face `Perfect Storm'

``We are looking at the worst set of macroeconomic conditions since the Great Depression,'' Zuckerman said in an interview with Bloomberg Television. ``I don't know where the bottom is. The federal government's going to have to do a lot more to contain what I think is the potential of a perfect storm.''


House seeks debt limit increase to $10.2 trillion

The government's debt limit would be raised to $10.2 trillion under a budget plan for next year approved by the U.S. House of Representatives.

The two chambers in coming weeks are expected to try to work out their differences and then pass a budget for next year that would spend $3 trillion while projecting a deficit in the range of $340 billion to $366 billion for the year.

The house and senate seem to be doing a terrific job of forgetting that this is NOT their money: It is the taxpayer's money, meant to take care of the needs of the taxpayers.

And what do we find them spending it on?

Wars and more wars.

Just take a look at the roads you drive, full of potholes and divots

Take a look at your schools.

Take a good, hard look at the infrastructure in your neighborhood.

And take a good look at your last grocery bill.

The members of congress do not care, as they have become simply the assets of those corporations which support them, and We the People mean absolutely nothing - except when it comes time to extract more and more taxes from us, which consistently never come back to our communities.

Also notice the cute new weapons they've developed, like the "pain ray" and sound devices that cause nausea.

Were I a betting person, I would almost be willing to wager that these gadgets were really not developed for deployment in America's wars: they will be deployed domestically, with brutal efficiency, first.

This crisis has a life of its own

Forget talk of soft landings. Ignore those who say that the Federal Reserve is in control of events. Take with a pinch of salt suggestions that the problems at Bear Stearns are a one-off.

The rescue package orchestrated for America's fifth-biggest investment bank makes it abundantly clear that this is now a different sort of market and a different sort of crisis. It is no longer hyperbole to state that the US is facing the most serious threat to its financial system since the Depression of the 1930s.

U.S. faces severe recession: NBER's Feldstein

The United States is in a recession that could be "substantially more severe" than recent ones, National Bureau of Economic Research President Martin Feldstein said on Friday.

Okay, so we have gone from admitting there is a recession, to admitting it is a "severe" recession. Give it another couple weeks and they'll finally admit we are in a depression.

Weak dollar costs U.S. economy its No. 1 spot

The U.S. economy lost the title of "world's biggest" to the euro zone this week as the value of the dollar slumped in currency markets.

"The curious outcome of breaching this latest milestone is that the size of the euro zone's annual output has now exceeded that of the U.S.," the economics department of Goldman Sachs, the Wall Street investment bank, said in a note to clients.

Bush's "legacy" will have been the utter destruction and devastation of Iraq and Afghanistan, coupled with the destruction of the US economy.

US investment bank gets emergency cash

US investment giant Bear Stearns, citing a potential cash crunch, said Friday it was getting an emergency loan from JPMorgan Chase in coordination with the Federal Reserve Bank of New York.

The company said its liquidity position had "significantly deteriorated" in the last 24 hours, forcing it to seek aid.

IMF tells states to plan for the worst

Governments might have to intervene with taxpayers' money to shore up the financial system and prevent a "downward credit spiral" from taking hold, the International Monetary Fund said yesterday.

I warned you. The bastards are gonna stick the taxpayers with the bill for this whole mess.

Banks to Seize Carlyle Capital Assets

The likely liquidation of Carlyle Capital Corp.'s remaining assets sent the fund's shares plummeting more than 90 percent Thursday and rattled stock markets around the globe. It was also a high-profile setback for private equity fund Carlyle Group.

Maybe. Maybe not.

Carlyle Group may have just sorted out their assets, dumped the poor ones into Carlyle Capital Corp, and kept the good ones at Carlyle Group. This isolates the good assets from the bad ones, so that when Carlyle Capital Corp collapses, the banks cannot come after Carlyle Group itself. The investors in Carlyle Capital Corp get to eat the losses!

Bear Stearns Bailed Out by Fed, JPMorgan

Bear Stearns Cos., one of Wall Street's venerable investment banks, received a bailout Friday by the federal government and JPMorgan Chase & Co. in a surprise, last-ditch effort to save the 86-year old institution.

Seen any government/bank bailouts to keep you from losing your home yet?

Don't hold your breath.

Fed pledges to supply cash

Just not to you and me.

THE IMPLOSION IS ACCELERATING, PREPARE WHILE YOU CAN

For thirty years, I have been writing, speaking, imploring, and begging others to make rational, concrete plans for a time in life that would offer no quarter, give no mercy, and that would in a word be-------catastrophic. We are coming face to face with that moment. You have so little time left to do anything that will give you a fighting chance. What are you doing?

Expert Fears Dollar Crash As Greenback Hits New Lows

Underscoring how the administration has lost all traces of credibility, President Bush's bumbling attempt to lend the ailing greenback some strong rhetorical support only backfired, preceding a new all time low against the Euro, while one expert expressed fears of a complete dollar crash.

Bush's speech this morning set a new standard for "lame."

The Great Bank Robbery

Banking is a ponzi scam. Banking is nothing but a government sactioned, giant multi-level game. It is a pyramid scam that makes all other scams look like child's play. At the top of the pyramid is the Federal Reserve Board, and their owners. At the bottom are the little local branches of all the different state and national banks. As in all pyramid scams, the small branches at the bottom will fall first, taking most of the heat off those at the top. But eventually the pyramid must topple. In fact, we already hear the rumble of the pyramid starting to fall.

Housing market: first-time buyers hit as lenders pull plug on all but the lowest-risk loans

Lenders, desperate to reduce their exposure to risky debt, are turning away borrowers with small deposits or a credit-record glitch as small as a single missed payment. The number of home-loan deals available has plunged and the number of unexpectedly denied loans has soared.

This is stupid, and for the following reasons.

First, that new money the Federal Reserve has poured into the lenders must be LOANED OUT. If it just sits in the vaults, then the lenders go out of business.

Second, almost half of the current foreclosures are by those very same low-risk great-credit borrowers who are watching housing prices drop, realize they owe more on the house than the house is worth, and are voluntarily walking away from their loans.

Third, the people with the good credit and the means to buy houses are not buying, because they also see that housing prices have fallen. They are going to sit on the property they have now.

This "shut the barn door after the horse has escaped" move may look good to stock-holders with millions in the bank and a vacuum between the ears, but it is just going to shut down the housing market even further, and bring down more lenders.

Price Of Bread Goes Up

Prices for bread and pasta have jumped after flour costs doubled in less than a week. Cynthia Bowers reports on how manufacturers and consumers are feeling the real consequences of inflation.

We could eat the politicians?

Good News or Bad? Local Gun Shop Jammed w/ Buyers

My wife and I visited our local Gun shop over the weekend to purchase a hand gun for her. You couldn't believe how many people were in this store buying fireamrs! I shop regularly at this store for cheap ammunition to shoot at the range, so I am familiar with the traffic. This place was jammed. You could hardly get around each other at the counters and down the aisles. The tension was thick. People seemed tense. I was hyped up on coffee and feeling honery so I loudly proclaimed, "Everyone here must be worried about the Economy and riots in the streets!" I thought I was going to get kicked out. But everyone sighed in agreement; some even clapping their hands.

The local hardware stores are running out of tar and rope, and the local bedding stores are out of feather pillows.

I am sure this means something, but I cannot imagine what!



Iraq


L'Iraq 5 ans, le bilan: un désastre total et une guerre perdue

McCain Makes Unannounced Trip To Iraq

With 13 U.S. Troops Killed This Week, GOP Candidate Who Supports Bush's War Makes "Fact-Finding" Visit

"Bush said it was 'romantic', and I haven't had any in a while ..."

Cheney Will Discuss Iran, Oil Prices on Mideast Trip

Vice President Dick Cheney, embarking on a 10-day trip to the Middle East, will discuss with Arab allies how to bring about a peaceful resolution to international concern over Iran's suspected development of nuclear weapons, a senior administration official said.

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