The New American Century (2009)



1Hr 34Mins-This is the Complete Full Movie

Produced by Massimo Mazzucco

THE NEW AMERICAN CENTURY explores the historical, philosophical and economic background that suggests a matrix for such events that is much closer to home than the so-called "Islamic terrorism".

The film provides solid evidence for the true reasons behind the Afghanistan and Iraq wars, whose unfolding is described in chilling detail in a document called "Project for the New American Century", published in the year 2,000, that seems to have served as the actual blueprint for such dramatic events.



As a follow-up to Inganno Globale, The New American Century presents the historical, philosophical, economical and political background -- some of which is totally unknown to the public -- that lend support to the accusation that the 9/11 terrorist attacks were in fact an inside-job.

"Historically accurate, narratively captivating, The New American Century is one of the best films about the facts behind the 9/11 attacks". -- Webster G. Tarpley

"The New American Century is a stunning film. It should be seen as widely as possible, in cinemas, bars, clubs, at meetings and, of course, through the internet. I'm sure the film will continue to be a source of debate and political education for many years." -- Ken Loach.


This film is astonishing, it goes in detail through the untold history of The Project for the New American Century with tons of archival footage and connects it right into the present. This film exposes how every major war in US history was based on a complete fraud with video of insiders themselves admitting it. This film shows how the first film theaters in the US were used over a hundred years ago to broadcast propaganda to rile the American people into the Spanish-American War. This film shows the white papers of the oil company Unocal which called for the creation of a pipeline through Afghanistan and how their exact needs were fulfilled through the US invasion of Afghanistan. This film shows how Halliburton under their "cost plus" exclusive contract with the US Government went on a mad dash spending spree akin to something out of the movie Brewster's Millions, yet instead of blowing $30 million they blew through BILLIONS by literally burning millions of dollars worth of hundred thousand dollar cars and trucks if they had so much as a flat tire. I have seen a ton of films, this film contains a massive amount of incredible footage I have never seen before anywhere, it is an historical documentary which exposes all the lies of the past so that you can understand the present. This film is a must see

184 comments:

Anonymous said...

As soon as a I find a free moment, I shall watch this film carefully and, no doubt, regret and rue the blindness which overcame the rest of the world faced with the clear machinations of the Evil Empire.

Thank you for giving us a chance to review our own own blind phase of optimism and cheerfulness. And make belated amends for our stupidity.

Anonymous said...

The Euro fighting for its life - 16.12.10

Only 12 years after it was launched to great fanfare and after early success, the euro is fighting for its short life. Two of the 16 countries using the currency have had to be bailed out, despite the ban on such rescues in 1992's Maastricht treaty that created Europe's monetary union.

Following the traumas of Greece and Ireland, Portugal may be next in line. There are worries about Spain.

In Brussels tomorrow the leaders of 27 countries, as well as the heads of the European commission and the European Central Bank, gather for their seventh EU summit this year, all consumed by the crisis surrounding the single currency.

The air of rancour and pessimism is pervasive. Bitterness is widespread, particularly among the smaller EU countries and those who feel they are being bullied by the most powerful.

"There is no appetite anywhere for another Franco-German plan to save the euro," said an east European government minister.

Taking fright
Jean Asselborn, the foreign minister of Luxembourg, went further: "I can only warn Germany and France against a claim to power that shows a certain overbearingness and arrogance."

A prime minister of a small EU state was more damning still. "Merkel and Sarkozy think they are the most pro-European leaders ever. But there is no Franco-German leadership. It's all domestic politics," he told the Guardian.

The widespread unhappiness, particularly with Germany and the nostalgia there for the rosy days of the D-mark, highlight the tensions gripping Europe as a result of the euro's year of agony.

The crisis – a delayed impact from the banking and financial collapse of 2008 – crept up and took EU leaders unawares, starting in the Greek government's confession late last year that its predecessor had been cooking the books for years and that its public debt and budget deficit were careering out of control.

The bond markets took fright, pushing up the risk premiums on Greek borrowing to exorbitant levels and triggering a spiral of panic and brinkmanship that engulfed Ireland and Portugal and exposed the flimsy foundations of the common currency.

The year opened as it ends, with a Brussels summit characterised by misunderstanding and fundamental differences over what to do. "It's hard to see in policy terms what is the way forward," said a senior diplomat in Brussels.

(Who has been telling us along this was in the air? Why, yes, our own incomparable poiuytr. Take a bow, will you, man.)

Anonymous said...

Some brave people there are still around who do not shrink from telling the truth. The video above said it all. Why millions have had to die, disappear or be deformed just so US can carry on claiming it's the world's only superpower. Superpowers such as these always end up in the rubbish bin of history. And US faster than most.

Anonymous said...

While listening to this video the thought occurred that of all the recent war criminal US presidents, George Bush Senior and Bill Clinton showed the most self-restraint. George W. was just a puppet and not his own person. The worst of them all might yet turn out to be the present Barack Obama. What a sobering perspective!

Anonymous said...

Tipping Point: 25 Signs That The Coming Financial Collapse Is Now Closer Then Ever
16.12.10

The financial collapse that so many of us have been anticipating is seemingly closer then ever. Over the past several weeks, there have been a host of ominous signs for the U.S. economy. Yields on U.S. Treasuries have moved up rapidly and Moody’s is publicly warning that it may have to cut the rating on U.S. government debt soon. Mortgage rates are also moving up aggressively. The euro and the U.S. dollar both look incredibly shaky. Jobs continue to be shipped out of the United States at a blistering pace as politicians stand by and do nothing.

Terminal prolapse in the air anyone?

Anonymous said...

PNAC in a bit of a fix of late (17.12.10)

The big news now is the US Progress Review of the Af-Pak war which will decide whether US troops "drawdown" will take pace by 11 July 2011 as per promise. Funny business all in all and face-saving, black is white, white is black scam in all its beauty. Progress = withdrawal, Failure = staying put. Now look at this:

- Petraeus says all's well. The surge has worked, much progress has been made (Plus to remove troops).

- Intelligence agencies say: Oh, no, no. Everything has grown worse. Afghan Resistance figures have climbed to 40.000 militants and they have captured 70% of the territory. (Minus for troops removal).

- MSM states in latest poll: 60% of USans are against the continuation of the Afghan War (Plus for removal).

- Economists, however mediocre, have started shouting for the troops to be brought home on financial grounds: Cost of Afghan War = 2 billion dollars per week for the privilege of killing and being killed. (Plus for removal).

- Holbrooke's last words must still be fresh in many minds: Stop the War.

So what does PNAC do now? Interesting times ahead. A la Iraq: Pretend you're doing it and do nothing at all?

Anonymous said...

The PNAC story has been around for sometime now. What the full movie did was to give them names and trace their ascent under successive US presidents. Skillfully done. And now I have a question. Has anyone any idea if there are serious forces in US opposing the PNAC and its foolish dreams? I haven't really caught any sure signs of such a thing.

Anonymous said...

EU leaders agree on rescue fund. Bloc says it must do "whatever is required" to protect the shared euro currency following two-day summit in Brussels. (17.12.10)

Well, more power to yoou. Try it out, sure. No way it's going to improve matters very much.)

Anonymous said...

17.12.10 - US fighting its battle against EU

Ireland's credit rating has been slashed by five notches by Moody's, which also warned that the country faced an increasingly uncertain economic future.

Moody's said that the cost of rescuing Ireland's banking sector meant Irish debt was now significantly riskier. It also expressed concern that the deep austerity cuts due over the next four years will hurt domestic demand.

The downgrade, which was more severe than some analysts had expected, came as Europe's finance ministers held tense negotiations over efforts to address the ongoing eurozone debt crisis.

The agency maintained a "negative" outlook on Ireland, and said that further downgrades are possible in the future.

Moody's had previously rated Ireland as AA2 – the third highest level. Today's downgrade to BAA1 leaves its sovereign credit rating just three places above "junk status", and follows a similar move by fellow ratings agency Fitch last week.

Anonymous said...

Russia calls on South Korea to halt military drill
Russia has urged South Korea to halt plans for an artillery drill to prevent further escalation of tensions. North Korea has repeatedly warned South over live-fire drills near their borders. So far all warnings seem to have fallen on deaf ears. We could start the New Year with a nuclear exchange, not to say war.

Anonymous said...

Bolivia joins neighbors in recognizing Palestinian state: President Evo Morales makes announcement in Brazil, suggests state should be along 1967 borders, Ma'an news agency says; Abbas welcomes move, thanks Bolivia for support. (18.12.10)

This in spite of the fact of strong US opposition. Something in the air most definitely for Palestine.

Anonymous said...

US State Department cables released by WikiLeaks have unveiled secret NATO plans for a US-led war against Russia over the Baltic states.

The cables, first reported by the Guardian newspaper Tuesday and posted on the WikiLeaks site, underscore the growing geo-strategic tensions between the US and Russia even as the Obama administration has emphasized a “reset” in relations that was supposed to overcome the conflicts left over from the Bush administration.

The secret plans spell out preparations for a full-scale war with Russia that would see the immediate deployment of nine divisions of US, British, German and Polish troops in the event of any Russian incursion into the former Soviet Baltic republics.

The plans also specify German and Polish ports that would be used to receive naval assault units and US and British warships destined for battle with Russian forces.

Despite these details, there is no indication in the cables of the potentially catastrophic implications of such an armed clash between the world’s two largest nuclear powers.

While some analysts in Moscow insisted that Russian intelligence was well aware of the contingency plans, their public exposure by WikiLeaks prompted statements of protest by Russian officials and demands for an explanation from NATO.

Anonymous said...

I don't doubt that a Russia attack would suit PNAC down to the ground. At least SKorea seems to have come to its senses somewhat.

Anonymous said...

Oil prices rise to nearly 92 dollars (18.12.10)

World oil prices rose on Friday as the dollar fell against the euro amid improving demand for crude, analysts said.

Anonymous said...

18:41 for you:

THE BIG LIE SELLING YOU WAR WITH NORTH KOREA

What can I say; here we go again!

I hardly need to go down the list of lies used to start US wars. We have been though that over and over again.

Nor do I need to elucidate on the many reasons why the US Government is in desperate need for yet another war with which to scare the American people into acceptance of more takes and fewer rights and freedoms.

Anyone with half a brain realizes that the US Government, unable to gain support for an invasion of Iran, has changed gears and decided that North Korea will be the next step towards World War III.

The big lie... South Korea fired first.

Anonymous said...

Excerpt from GEAB - 18.12.10

The second half of 2011 will mark the point in time when all the world’s financial operators will finally understand that the West will not repay in full a significant portion of the loans advanced over the last two decades. For LEAP/E2020 it is, in effect, around October 2011, due to the plunge of a large number of US cities and states into an inextricable financial situation following the end of the federal funding of their deficits, whilst Europe will face a very significant debt refinancing requirement (1), that this explosive situation will be fully revealed. Media escalation of the European crisis regarding sovereign debt of Euroland’s peripheral countries will have created the favourable context for such an explosion, of which the US “Muni” (2) market incidentally has just given a foretaste in November 2010 (as our team anticipated last June in GEAB No. 46 ) with a mini-crash that saw all the year’s gains go up in smoke in a few days. This time this crash (including the failure of the monoline reinsurer Ambac (3)) took place discreetly (4) since the Anglo-Saxon media machine (5) succeeded in focusing world attention on a further episode of the fantasy sitcom "The end of the Euro, or the financial remake of Swine fever" (6). Yet the contemporaneous shocks in the United States and Europe make for a very disturbing set-up comparable, according to our team, to the "Bear Stearn " crash which preceded Lehman Brothers’ bankruptcy and the collapse of Wall Street in September 2008 by eight months. But the GEAB readers know very well that major crashes rarely make headlines in the media several months in advance, so false alarms are customary (7)!

Anonymous said...

Fasten your seatbelts

S Korea fires into disputed waters
19.12.10

Artillery action risks inflaming tensions with North Korea, which warned neighbour against live-fire drill.

Anonymous said...

Unrest Stories the world over - 19.12.10

- Iran predicts unrest as subsidies end

Riot police out in force as as ILNA news agency reports rising price of petrol, electricity and food.

- Belarus riots over vote-rigging claims

Opposition candidate beaten and detained as clashes follow claim that 'dictator' Lukashenko won 79% of vote.

Anonymous said...

NKorea says won't hit back over SKorean drills

YEONPYEONG ISLAND, South Korea – South Korea's military staged live-fire drills from an island just miles (kilometers) from rival North Korea's shores Monday, despite Pyongyang's threats of catastrophic retaliation for the maneuvers.

Seoul launched fighter jets, evacuated hundreds of people away from its tense land border with the North and sent residents of front-line islands into underground bunkers in case of attack, but the North finally said it would hold its own fire.

The 90-minute exercise came nearly a month after the North responded to earlier maneuvers by shelling Yeonpyeong Island, killing two marines and two construction workers in its first attack targeting civilian areas since the 1950-53 Korean War. That clash sent tensions soaring between the two countries — which are still technically at war.

In an emergency meeting Sunday, U.N. diplomats meeting in New York failed to find any solution to the crisis, but there was some sign of diplomacy Monday, as a high-profile American governor announced what he said were two nuclear concessions from the North.

North Korea called Monday's drills a "reckless military provocation" but said after they ended that it was holding its fire because Seoul had changed its firing zones.

(Good, diplomacy prevailed over the military solution).

Anonymous said...

People's Republic of China: EU servility is ‘pathetic’ - 16.12.10

http://www.eutimes.net/2010/12/chinese-ambassador-eu-servility-is-pathetic/

Europe’s willingness to take directions from other world powers is “pitiful” and “pathetic” China’s top man in Brussels has said.

The remarks by Chinese ambassador Song Zhe come as a leaked US diplomatic cable revealed that Washington quickly swung into action earlier this year when the Spanish EU presidency suggested the Union should lift its arms embargo with China.

“This is an action request for all US Embassies in EU countries to reiterate our position that the EU should retain its arms embargo on China,” said the cable, dated 17 February 2010 and signed “Clinton” referring to secretary of state Hillary Clinton.

In a cable from two weeks earlier, an EU official said that an end to the bloc’s arms embargo would be beneficial for Sino-EU relations but that it is unlikely to come about because of the negative “consequences” that would flow from Washington.

“The EU and China are now strategic partners and it doesn’t make any sense to maintain the embargo … I also think it is pitiful and pathetic that Europe can’t make decisions on its own, without being influenced by other powers,” China’s Mr Song told a small group of journalists in Brussels on Wednesday (15 December). He added that the bloc’s subservience leads many to believe that it is weak.
The senior diplomat, who has lived in the EU capital for three years, was speaking generally and did not wish to be drawn on the leaked cables.

The EU halted arms sales to China following the violent suppression of protestors in Tiananmen Square in 1989. An initiative to lift the embargo in 2004-2005 foundered in the face of considerable member state opposition, despite support from France and Germany at the time. The second cable cited above notes that Spain created confusion earlier this year by speaking out against the ban despite having no EU mandate to do so. “This is the Spanish talking and seeking advantage at other EU states’ expense,” the EU official in the cable explained.

Pro-sanctions capitals say that China is still embroiled in a dangerous frozen conflict with Taiwan and has a bad human rights record in, for example, Tibet.

The Chinese ambassador sees ending the embargo as a largely symbolic gesture, however. “With it the trade ban we will develop our own arms even faster,” he said. “So at the end of the day it is the arms companies in Europe that are losing out.”

Anonymous said...

Please to listen to this one. It's really informative:

http://rt.com/programs/keiser-report/episode-103/

Anonymous said...

Debt crisis threatens 100 US cities - 21.12.10

Cities like Detroit could face financial collapse in 2011, potentially derailing economic recovery, analysts warn.

Anonymous said...

Have you heard the latest, folks? China has finally begun supplying The Afghan Res with serious weapons: surface-to-air manpad missiles. Brought it upon themselves, they did, throwing their weight about on the Korean peninsula as though there were no tomorrow.

Anonymous said...

If anybody still has doubts about the non-human nature of White "people," here is yet another piece of proof to convince you:

'I didn't think of Iraqis as humans,' says White Terrorist who raped 14-year-old girl before killing her and her family

http://whitewatch.info/2010/12/20/i-didnt-think-of-iraqis-as-humans-says-us-soldier-who-raped-14-year-old-girl-before-killing-her-and-her-family.aspx

Now you know why Whites are so paranoid about all those people that are out to "get" them.

It's guilt for all the crimes that they have committed and fear being punished for.

Anonymous said...

10:56, I quite agree with you about the Whites, their paranoia and their overwhelming sense of guilt. After all they should feel it. they've killed more people on this planet than any other race.

But their day is over. Now the other races will get a chance to come to the forefront and show what they are capable of.

Anonymous said...

Financial Crisis - 20.12.10

Pimco says 'untenable' policies will lead to eurozone break-up

Pimco, the world's largest bond fund, has called on Greece, Ireland and Portugal to step outside the eurozone temporarily and restructure their debts unless the currency bloc agrees to a radical change of course.

Pimco said current policies are untenable in the absence of fiscal union and will lead to a break-up of the euro By Ambrose Evans-Pritchard

Andrew Bosomworth, head of Pimco's portfolio management in Europe, said current policies are untenable in the absence of fiscal union and will lead to a break-up of the euro.

"Greece, Ireland and Portugal cannot get back on their feet without either their own currency or large transfer payments," he told German newspaper Die Welt.

(Look who's talking: the head of the world's biggest bond fund. Advice from such as these should be royally ignored, I'd say.)

Anonymous said...

Brazil donates land for Palestinian embassy
21.12.10

Palestinian ambassador to Brazil Ibrahim Az-Zein received the title to a piece of land Monday, where the Palestinian embassy in Brazil will stand following that country's recognition of a Palestinian state earlier in the month.

It's so GOOD to see South America--after SO MANY decades of US GOVT tyranny,and US destruction of Latin American democracy--STANDING again as a BASTION of world freedom,self-determination and true democracy.

Anonymous said...

UK deficit reached record £23bn

Some departments may have to cut spending in a way that could erode support for coalition's policies.

Prolapse Forward

Anonymous said...

Let's see what this morning's news has revealed or concealed (22.12.10)

- The Wars: Ah, yes, the wars. Not content with ravaging Afghanistan, now the invaders are hell bent on expanding to Pakistan. Painful beyond words in terms of casulaties, but not devoid of interest: Face-saving like in Laos and Combodia.

- If the Taliban are in Pakistan actually (US dixit), then actually al Qaida is in Yemen (same source). Where do we go from there?

- Brazil very rightly says: No peace in Mideast so long as US is the "guardian" of the region.

- Korea: WWWIII (Part Two) - Some détente was visible a day or so ago. Now it's again: Forward March. SKorea has once again announced massive drills in NKorean waters. Also PM Kan who replaced the intreprid Hatoyama whom the US toppled over has now decided it will align in every respect with US policy and consider China Japan's worst enemy. So tension is mounting.
(RH: what is happening to Japan? Don't the Japanese realise what a dangerous game is being played?)

- Also, before I end: the mercenaries have made a tremendous comeback. The Pentagon has its mercenary army, NATO its own. The big corporations all have their mercenaries, the politicians their own. We carry on this way, the NWO will be led by a mercenary army. What great fun!

Anonymous said...

Jewish sexual perversion continues unabate:

"White Watch: Professor Charged With Having Ongoing Sexual Relationship With Adult Daughter"

A popular Columbia professor was charged Thursday with incest - accused of a sick sex relationship with a female relative, prosecutors said.

Political science Prof. David Epstein, 46, bedded the young woman over a three-year period ending last year, according to court papers.

He was arraigned before a Manhattan judge on a single felony incest count.

http://whitewatch.info/2010/12/17/professor-accused-of-a-consensual-sexual-relationship-with-his-daughter.aspx

Anonymous said...

Unless you are Jewish, you are nobody in Hollywood
http://www.youtube.com/watch?v=Vgt2J54iZOQ&feature=related

Anonymous said...

North Korea prepared for 'holy war' with South
23.12.10

Pyongyang defence minister accuses Seoul of raising tensions in peninsula with military drills.

Anonymous said...

The Govts of Australia, New Zealand and Canada are Illegitimate.

And why so? Because they are all subsurvient to the British Crown even today and, as such, cannot be sovereign States as per the definition of the term given by the League of Nations and, later by UN.

RAMIFICATIONS

All Legislative Acts of the Australian, New Zealand or Canadian governments have absolutely no authority and are therefore imposed domestically by force upon the inhabitants of those lands and as a consequence of this revelation, those inhabitants are not bound by such laws. Imagine that! In the international sphere other governments are waking up. If you get into trouble in China and you're travelling under a New Zealand or Australian passport you'll know what Stern Hu or Matthew Ng have already experienced.

Just on that point, the Chinese know that none of their people who swear allegiance to Australia can actually be Australian citizens because to be a citizen you must be able to swear allegiance to a nation. The highest legislation in Australia is the Commonwealth of Australia Constitution Act, 1900 and it's a British Act – never really voted on by the majority of people living in Australia – and that constitution Act defines the Commonwealth of Australia as “a self-governing colony” (see clause 8)! This would be akin to Japan granting Solomon Island citizenship! How can British law grant any other citizenship than British citizenship?

In other words, for almost a century the governments of Australia, New Zealand and Canada - aided and abetted by the polished reticence of the British parliament and a conniving establishment - have committed fraud and deception on a massive scale! The former colonies of Britain exist in a political No-Man's-Land.

Anonymous said...

7:58, 8.20, Perversion when it comes upon a people is never restricted to one aspect alone. If all the money in the world is passing through your hands, if politically you are more or less running the world, it's only one step forward to thinking you are not bound by the usual rules of sexual morality either. The shocking and sad tale of D. Epstein is a case in point.

As for Jewish control over Hollywood (and mainstram media) makes them live 1. in a dream world, 2. in a world of lies and fabricated news. They are left standing there with as much sense of reality in their heads as a parrot escaped from a cage. All this will totally backfire against them in the long run.

Anonymous said...

Fresh humiliation for eurozone as China says it will bail out debt-ridden nations
23.12.10

China has said it is willing to bail out debt-ridden countries in the euro zone using its $2.7trillion overseas investment fund.

In a fresh humiliation for Europe, Foreign Ministry spokesman Jiang Yu said it was one of the most important areas for China's foreign exchange investments.

Anonymous said...

To those who wrote above about the Jews. It's simple, all that supremacist thing. The Jews are above all earthly laws and beyond all divine ones. A bit of this also applies to the rest of the west.

Anonymous said...

RE: 16:30

Australia, Canada, and New Zealand have no legitimacy to exist as nations alright--because their are European colonizer nations.

Anglo Saxons and other European predators invaded, stole, and now occupy land that is by all rights Indigineous land belonging to Native Indians, Maori, and Aborginal people.

This is no different from the Europeans who occupy "America" or the European Zionists who occupy Palestine, or the European colonizers who are now attempting to subjugate Iraq, Afghanistan, Yemen, and many other nations behind their foundational civilizational lies: Liberty and Freedom.

This little issue is one that European apologists and propagandists of all species try to spindoctor away as they instinctively do.

But what do you expect?

Deception is the Western way, not only for their criminal regimes but Western predator "people" themselves.

Something to remember however: European colonizers will be driven out of Canada, Australia, New Zealand, and the United Snakes--just as surely as they will be driven out of Iraq and Afghanistan and Palestine.

The only place that you European colonizers can flee to will be Hell itself.

Anonymous said...

"US State Department cables released by WikiLeaks have unveiled secret NATO plans for a US-led war against Russia over the Baltic states."

If the American Empire wants to attack Russia, it will meet the same fate as Nazi Germany that committed the same mistake.

Indeed, America and its Anglo imperialist allies like Britain, Canada, and Australia are the Fourth Reich in everything but name.

Like the Nazis before them, the Anglo-American Empire is waging a war for global conquest behind its Big Lie of a "War against Terrorism" or "Weapons of Mass Destruction."

This is not an "Neocon" thing or a Bush thing either.

It's an AMERICA thing as you see with Demorat Party war criminals like Barack Obama, who has bombed Pakistan MORE in 2 years than George Bush did in 8 years.

In fact, those fake antiwar Demorat Party frauds who criticized the Bush Neocons of the past are now supporting Barack Obama and the Democrat war criminals today.

America is an aggressive predatory empire and people--regardless of what regime is in charge.

America is a nation of 300 million war crimnals from top to bottom, genocidal, murderous, but most of all propagandists who psychologically project America's own expansitionist nature onto its victims and opponents.

Here is yet another example:

New York Times reports US plans for military escalation in Pakistan
http://www.wsws.org/articles/2010/dec2010/paki-d22.shtml

Anonymous said...

Bravo, 08:24. In a few lines, we get the complete picture of where the Evil Empire now stands with all of its "300 million of war criminals". It is very important for us never to lose sight of the fact that they are all like-minded.

The point though is that the present Muslim Wars must inevitably lead to the War of the Giants, US versus China, US versus Russia.

Unless USans are forced to go bankrupt first, an eventuality very much on the cards as we approach the New Year.

Friends, do not get taken in by all the hullabaloo round the START treaty. Russia will not be letting down its guard for all that.

Anonymous said...

Financial Crisis

Record spike in EMU default risk on Portugal downgrade and Greek restructuring scare

The cost of default insurance on eurozone bonds has surged to an all-time high on reports that Greece is preparing the way for a sovereign debt restructuring after 2013, with tacit support from the EU authorities.

The disputed claim came as Fitch Ratings downgraded both Portugal and Hungary and placed five Greek banks on negative review.

Fitch cut Portugal's rating one notch to A+, warning that the economy is caught in a low-growth trap.

Plans to cut the structural budget deficit by 4pc of GDP next year "will be extremely challenging especially if, as Fitch expects, the economy falls into recession next year".

The Greek newspaper Ta Nea said Athens was examining plans to impose a cut in interest rates on its debt and to extend maturities once the €110bn (£94bn) rescue deal from the EU and the International Monetary Fund expires in mid 2013.

The proposals stop short of "haircuts" on the principle of the debt and would be done in a co-operative fashion with bondholders. While this would qualify as an orderly restructuring of debt, it is tantamount to default.

23.12.10

Anonymous said...

Friday, December 24, 2010Has The Financial Collapse Of Europe Now Become Inevitable?
Editorial at theeconomiccollapseblog.com

What in the world is happening over in Europe? Well, it is actually quite simple. We are witnessing the slow motion collapse of the euro and of the European financial system. At this point, many analysts are convinced that a full-blown financial implosion in Europe has become inevitable. Ireland, Spain, Portugal, Italy, France and Belgium are all drowning in an ocean of unsustainable debt. Meanwhile, Germany and the few other "healthy" members of the EU continue to try to keep all of the balls in the air by bailing everyone out. But can Germany keep bailing the rest of the EU out indefinitely? Are the German people going to continue to be willing to hand out gigantic sacks of cash to fix the problems of other EU nations? The Irish were just bailed out, but their problems are far from over. There are rumors that Greece will soon need another bailout. Spain, Portugal, Italy and France have all entered crisis territory. At the same time, there are a whole host of nations in eastern Europe that are also on the verge of financial collapse. So is there any hope that a major sovereign debt crisis can be averted at this point?

One would like to think that there is always hope, but each month things just seem to keep getting worse. Confidence in European government debt continues to plummet. The yield on 10-year Irish bonds is up to 8.97%. The yield on 10-year Greek bonds is up to an astounding 12.01%. The cost of insuring French debt hit a new record high on December 20th.

Bond ratings all over Europe are being slashed or are being threatened with being slashed. For example, Moody’s Investors Service recently cut Ireland's bond rating by five levels. Now there is talk that Spain, Belgium and even France could soon all have their debt significantly downgraded as well.

But if the borrowing costs for these troubled nations keep going up, that is just going to add to their financial problems and swell their budget deficits. In turn, larger budget deficits will cause investors to lose even more confidence.

The collapse of quite a few European countries is being predicted to take place within the next few months.

Anonymous said...

If poiuytr doesn't come out and give us a bang over the head: Merry Christmas to one and all: And by way of a present:

- Some investors fear collapse of US municipal bonds across nation: Investors have fled municipal bonds in recent weeks, leading to rising fears about investments in state and local government debt and increasing the potential for higher rates for when governments look to borrow money.

- 16 US Cities Facing Bankruptcy If They Don't Make Deep Cuts: 2011 will be the year of the municipal default. At least that's what analysts like Meredith Whitney predict, as do bond investors that have been fleeing the muni market.

Anonymous said...

For everybody here fulminating about the collapse of your beloved European Union, you might want to take a harder look at what is going on.

Like most political developments, the invisible hand of the American Empire (and not the market) is behind this event and was effectively predicted earlier this year:

The attack on the Euro and the dismantling of the European Union
by Jean-Claude Paye*
23 July 2010

Far from being the effect of the ‘invisible hand of the market’, the crisis of the euro is the product of a strategy carefully designed by Christina Rohmer and the White House Council of Economic Advisers. It is a matter of saving the American economy by forcing the European capitals to take refuge behind the US, and ultimately placing the Euro Zone economies under US control via the IMF and the European Union. Jean-Claude Paye analyses the first stage of the process underway.

http://www.voltairenet.org/article166367.html#article166367

Anonymous said...

Thanks, 00:22 . You brought up the point which has become clearer as we go along. US attacks on the euro, although the dollar is in a very much shape than the European currency. We've got the "rating agencies", all USans, busy handing out junk status to European countries, we've got the bond managers, all of whom you know are what, busy pushing up borrowing costs artificially. And yet, and yet, no one in Europe seems to be opening their eyes to what is really happening! Imperial overreach is what, and all in the name of the sacrosanct reserve currency priviledge of the dollar! Ha! This is the Third Front in the present World War. And, a very sound development to my mind. Drive a wedge between the allies, is the healthiest thing to do, say I.

And China and Russia, with their usual consummate mastery have emptied the question of reserve currency of all substance by doing a simple, childlike thing. From now on: we trade in our own currencies between countries. With one smart move, it's death to the IMF, The World Bank and all the other dirty institutions the US had set up to control the money flow in the world.

Merry Christmas to James and all our other bloggers. May the day be one of serenity and joy.

Anonymous said...

Ecuador recognizes a Palestinian state
25.12.10

Ecuador is the latest country to recognize an independent Palestinian state.

The government said on Friday that President Rafael Correa recognized "the Palestine State as free and independent within its borders since 1967."

"Israel says we gotta nuke all of South America now!" -- Official White Horse Souse

Anonymous said...

The UK inflation genie is out of the bottle
Liam Halligan - 26.12.10

As 2010 draws to a close, it's becoming ever clearer that the UK's economic prognosis is not good.

I'm a natural optimist and don't wish to upset anyone's Boxing Day celebrations. Any commentator worth their salt, though, at times like this, should ignore such sensitivities. It would be wrong – reckless, in fact, given the slew of recent bad data – to fail to point to the worrying mix of economic issues the UK now faces.

During 2011, the British economy will suffer from rising inflation and sluggish (in some quarters, possibly negative) growth. This grim combination will be set against a budgetary situation that can only be described as ghastly.

George Osborne was recently in New York, soaking up plaudits for boldly leading Britain into fiscal austerity at a time when, apparently in contrast, America's feckless political elite has allowed the national debt to balloon. The problem is that UK austerity, so far at least, is a myth.

November's national accounts, released last week, were shocking. Government spending last month was sharply up on the same month in 2009 – yes, up! British state borrowing is still escalating, with the national debt rising very quickly.

Anyone who takes an intelligent interest in current affairs could be forgiven for inferring from the political rhetoric that the UK's fiscal squeeze is not only well under way but that the worst is actually behind us. If this was indeed your impression, you may want to pour yourself a large Yuletide sherry and possibly take refuge in another bowl of trifle. For the grim reality, as the latest figures show, is that Britain's fiscal squeeze hasn't even begun.

Anonymous said...

Pentagon’s Christmas Present: Largest Military Budget Since World War II

On December 22 both houses of the U.S. Congress unanimously passed a bill authorizing $725 billion for next year’s Defense Department budget.

(They'll need it, the poor Dears. After all, they've still got to conquer the rest of the world once they've whipped the Afghan Resistance into submission by the year 2050 or so.)

Anonymous said...

Question: How come people usually refer to the United States of America by only its abbreviation of "U.S."--while they often refer to other nations by their full popular name, particularly if they are on America's hitlist(i.e. Iraq, Afghanistan, Iran, North Korea, etc.)?

Personally, I suspect that this is a subtle and cunning way to minimize the culpability of America as a nation (and its many crimes) by refusing to call it out fully--while Othering a designated enemy nation to hate.

Thoughts?

Anonymous said...

Russian court finds Mikhail Khodorkovsky guilty of theft and money laundering charges in Moscow
27.12.10

A court in Moscow today found the oil tycoon, Mikhail Khodorkovsky, guilty of theft and money laundering in a politically tinged trial that is seen as a weathervane for Russia's future course.

Viktor Danilkin, the trial judge, told the packed court that Khodorkovksy, 47, and his business partner, Platon Lebedev, 54, "carried out the embezzlement of property entrusted to the defendants".

Khodorkovsky, wearing a black jacket, and Lebedev, in a white tracksuit, whispered to each other inside the enclosed dock and ignored the judge as the verdict was announced.

Outside the court, several hundred protesters gathered, shouting "Freedom!" and "Russia without Putin!".

Police arrested about 20 people, dragging them out of the crowd and crushing their placards.

Supporters of Khodorkovsky, who part-owned the Yukos oil company and was once Russia's richest man, say the Kremlin singled him out for punishment because he funded opposition politicians.

The two men have been in jail since they were arrested on fraud charges in 2003. A court sentenced them to eight years in prison two years later, but a new trial on fresh charges of embezzling $25bn (£16bn) began last year.

Analysts say the length of the sentence, which is expected later, will show which of two Kremlin clans — the siloviki (security and military veterans) associated with Vladimir Putin, the prime minister, and the liberals grouped mainly around the president, Dmitry Medvedev – has gained supremacy in the country.

Prosecutors want the men to stay in prison until 2017, and Putin said this month that "a thief should be in jail" when he was asked about the trial. Medvedev, however, has distanced himself from the case and said on Friday that government officials should not comment on it before the end of the trial.

Anonymous said...

Hello 10:58, you make an excellent point there about the way the EE is named. And you may well be right, some PR at work there all in all.

Let me tell you though why I refuse to term the EE as anything else. America for me is a usurped name. I'm only willing to use it if the talk is of the indigenous population. Spelling out the United States is too much trouble to go to for something of so little worth. So in my case it will have to carry on being US. And the people living there can only be the USans.

But I can well imagine what you said about culpability reduction applies definitely to the pro-lot.

Anonymous said...

Monday, December 27, 2010
The First 10 Major Cities That Will Run Out Of Pension Fund Money

Projections show the average city has $15,000 per household in unfunded pension liabilities. A lot of it is off-balance sheet, hidden from easy public view. Many, many cities are in trouble. Here are the top ten major cities that are in trouble and when they will run out of money:

#1 Philadelphia- Unfunded liability of $9 billion, $16,696 per household, only 4 years before the pension accounts are empty

#2 Chicago- Unfunded liability of $44.8 billion, $41.966 per household, money runs out in 7 years

#3 Boston- Unfunded liability of $7.5 billion, $30,901 per household, money runs out in 7 years

#4 Cincinnati- Unfunded liability of $2 billion, $15,681 per household, money runs out in 8 years

#5 St Paul- Unfunded liability of $1.4 billion, $13,686 per household, money runs out in 8 years

#6 Jacksonville- Unfunded liability of $4 billion, $12,944 per household, money runs out in 8 years

#7 New York City- Unfunded liability of $122 billion, $38,866 per household, money runs out in 9 years

#8 Baltimore- Unfunded liability of $3.7 billion, $15, 420 per household, money runs out in 10 years

#9 Detroit- Unfunded liability of $6.4 billion, $18,643 per household, money runs out in 11 years

#10 Fort Worth- Unfunded liability of $2 billion, $7,212 per household, money runs out in 11 years

(Divide the number of years given by two and we'll probably be closer to the truth.)

Anonymous said...

Spanish auto sector wraps up a bleak year due to a slump in demand from the rest of Europe and the end of a govertment trade-in bonus scheme at home. Expect 2011 to begin with rising unemployment in Spain.

Anonymous said...

re: 17:02

Let the American Rome collapse, as it deserves.

AmeriNazis are hysterically shrieking and beating their nationalist chests, but their parasitic American capitalist system is criminal to the core. And it deserves to implode.

Good bye and good riddance.

Anonymous said...

'll echo that, 05:25: Goodbye and good riddance. I'll add: to bad rubbish.

Have a look at this now:

'Bailed US banks on brink of bankruptcy'
Mon Dec 27, 2010

Around one hundred US banks which have been rescued by the federal government are facing the prospect of bankruptcy again, a study finds.

A total of 98 unsteady banks that were bailed out by Washington authorities received more than $4.2 billion from the Treasury Department under the Troubled Asset Relief Program (TARP), a recent analysis of federal data by the Wall Street Journal reveals.

According to the study, TARP was originally created in the middle of the US financial crisis to help only healthy banks.

Seven TARP recipients have already failed, resulting in more than $2.7 billion in lost TARP funds. Most of the troubled TARP recipients are small, plagued by unregulated lending programs from which they might not recover.

The average size of the 98 banks was $439 million in assets as of Sept. 30. The median TARP infusion for each was $10 million, the study shows, citing federal filings.

The journal calculations also demonstrate that 814 of the country's 7,760 banks and savings institutions are troubled at the end of America's third-quarter financial period, which is up from 729 at the end of the second quarter.

However, figures from the Federal Deposit Insurance Corporation (FDIC) have identified 860 financial institutions as problematic. The banks have not been publicly identified.

In October, the Government Accountability Office said 78 banks on the FDIC's troubled-bank list as of June 30 were TARP recipients, up from 47 at the end of 2009.

Dozens of TARP banks were "marginal institutions" that were financially weaker than other recipients and should have gotten more scrutiny before receiving taxpayer-funded infusions, the GAO said.

Anonymous said...

World markets fall as oil price hits 26-month high after Chinese rate rise (27.12.10)

World markets tumbled on Monday as fears grew that China’s attempt to control inflation could hit the tentative economic recovery in the West.

China's Shanghai Composite Index slid 1.9pc, the most the index has fallen since November. Soaring oil prices, which hit a 26-month high, also unsettled investors, with losses seen from Shanghai to Wall Street.

It came amid mounting fears that China’s unexpected rise in interest rates could derail growth in Asia and damage an upturn for the world’s major exporters.

On Christmas Day, the People’s Bank of China raised its benchmark rate by 25 basis points to 5.81pc, as the country grapples with rampant food inflation and rising wage demands.

However, analysts believe that tightening measures by Beijing may curb growth only slightly. On Boxing Day, analysts at JP Morgan Chase trimmed their 2011 growth forecast for the Asian economic powerhouse to 9pc from 10pc.

Growth concerns prompted jitters in all the world’s stock markets, which recently hit two-year highs. The German blue chip Dax index fell 1.3pc, France’s CAC 40 lost 1pc and Spain’s Ibex lost 2pc. The Dow Jones industrial average fell 0.2pc by lunchtime.

German carmakers were particularly hard hit, as China became the world’s largest vehicle market in 2009. Shares in Daimler slumped 4.6pc, with Volkswagen shares plunging 5.7pc.

The oil price, which has jumped 27pc since May, weighed heavily on market sentiment. The severe blizzard across the eastern seaboard of the US and continued cold temperatures in Europe are expected to push prices still higher as demand for heating oil grows.

(Fasten your seat belts, friends, fasten your seat belts).

Anonymous said...

Police State US

To date, the 14 most ridiculous things that Americans are being arrested for….

#1 A Michigan man has been charged with a felony and could face up to 5 years in prison for reading his wife’s email.

#2 A 49-year-old Queens woman had bruises all over her body after she was handcuffed, arrested and brutally beaten by NYPD officers. So what was her offense? The officers thought that her little dog had left some poop that she didn’t clean up.

#3 A 56-year-old woman who was once a rape victim refused to let airport security officials feel her breasts so she was thrown to the floor, put in handcuffs and arrested.

#4 In Milwaukee, one man was recently fined $500 for swearing on a public bus.

#5 Several years ago a 12-year-old boy in South Carolina was actually arrested by police for opening up a Christmas present early against his family’s wishes.

#6 In some areas of the country, it is now a crime to not recycle properly. For example, the city of Cleveland has announced plans to sort through trash cans to ensure that people are actually recycling according to city guidelines.

#7 A 12-year-old girl from Queens was arrested earlier this year and taken out of her school in handcuffs for writing “Lex was here. 2/1/10″ and “I love my friends Abby and Faith” on her desk.

#8 Back in 2008, a 13-year-old boy in Florida was actually arrested by police for farting in class.

#9 The feds recently raided an Amish farmer at 5 AM in the morning because they claimed that he was engaged in the interstate sale of raw milk in violation of federal law.

#10 A few years ago a 10-year-old girl was arrested and charged with a felony for bringing a small steak knife to school. It turns out that all she wanted to do was to cut up her lunch so that she could eat it.

#11 On June 18th, two Christians decided that they would peacefully pass out copies of the gospel of John on a public sidewalk outside a public Islamic festival in Dearborn, Michigan and within three minutes 8 policemen surrounded them and placed them under arrest.

#12 A U.S. District Court judge slapped a 5oo dollar fine on Massachusetts fisherman Robert J. Eldridge for untangling a giant whale from his nets and setting it free. So what was his crime? Well, according to the court, Eldridge was supposed to call state authorities and wait for them do it.

#13 Once upon a time, a food fight in the cafeteria may have gotten you a detention. Now it may get you locked up. About a year ago, 25 students between the ages of 11 and 15 at a school in Chicago were taken into custody by police for being involved in a huge food fight in the school cafeteria.

#14 A few years ago a 70 year old grandmother was actually put in handcuffs and hauled off to jail for having a brown lawn.

Anonymous said...

European anarchists grow more violent, coordinated - 28-12-10

ROME – A loosely linked movement of European anarchists who want to bring down state and financial institutions is becoming more violent and coordinated after decades out of the spotlight, and may be responding to social tensions spawned by the continent's financial crisis, security experts say.

Italian police said Tuesday that letter bombs were sent to three embassies in Rome by Italian anarchists in solidarity with jailed Greek anarchists, who had asked their comrades to organize and coordinate a global "revolutionary war."

Identical package bombs exploded at the Swiss and Chilean embassies in Rome on Dec. 23, badly wounding the two people who opened them. A third bomb was safely defused at the Greek Embassy on Monday.

"We're striking again, and we do so in response to the appeal launched by our Greek companions," the Italian group known as the Informal Anarchist Federation wrote in a claim of responsibility for the third bomb that was released by police here Tuesday.

Anonymous said...

U.S. to Send Another Nuke-Powered Aircraft Carrier to NE Asia - 28.12.10

The U.S. will deploy another nuclear-powered aircraft carrier in Northeast Asia in response to North Korea's threat of a "sacred war" using nuclear weapons, media reports said. The Ronald Reagan will bring to three the number of U.S. aircraft carrier fleets in the west Pacific, joining the George Washington in Japan and the Carl Vinson that just arrived in Guam.

China's official Xinhua news agency said the new addition could raise tensions in the region, with the Chinese military already calling it the biggest threat to China and North Korea in six decades.

Commissioned in 2003, the Ronald Reagan can carry more than 6,000 sailors and over 80 aircraft. According to a dedicated website, it is scheduled for deployment in the west Pacific in 2011.

Anonymous said...

In 2011, the 200+ year old Fascist American Empire finally comes out of the closet and shows its true nature.

The rest of humanity be warned:

"As 2011 dawns, public discourse in America has the country primed for a fascist dictatorship.The situation will be worse by 2012. The most uncomfortable truth that emerges from the WikiLeaks saga is that American public discourse consists of cries for revenge against those who tell us truths. The vicious mendacity of the U.S. government knows no restraint. Whether or not international law can save Julian Assange from the clutches of the Americans or death by a government black ops unit, both executive and legislative branches are working assiduously to establish the National Security State as the highest value and truth as its greatest enemy.

America’s future is the world of Winston Smith."

http://original.antiwar.com/paul-craig-roberts/2010/12/27/2011/

Anonymous said...

Absolutely, 00;21. The first Dystopia, Huxley's Brave New World copy is now over. The second Dystopia, clearly inspired by Orwell's 1984, has now been set into place. That's the immediate future for US.

I wonder what it will mean for the rest of the world, an openly fascist US.

Anonymous said...

British unemployment to hit 17-year high
29.12.10

Jobless total forecast to reach 2.7m from wide-scale state redundancies.

Anonymous said...

Treasuries Fall Before $35 Billion Government Auction of Five-Year Notes - 28.12.10

U.S. notes and bonds have handed investors a 2.1 percent loss in December, paring the annual return to 5.7 percent, according to figures compiled by Bloomberg and the European Federation of Financial Analysts Societies. That’s the worst monthly performance among 26 sovereign indexes.

Anonymous said...

Financial Crisis

Italy's debt costs approach red zone (29.12.10)

Italy's borrowing costs have jumped to the highest level since the financial crisis over two years ago, raising concerns that Europe's biggest debtor may slip from the eurozone's stable core into the high-risk group on the periphery.

Yields on 10-year bonds rose 10 basis points to 4.86pc after a poor auction of short-term debt in Rome. The Italian treasury had to pay 1.70pc to sell €8.5bn (£7.2bn) of six-month bills in a thin post-Christmas market, up from 1.48pc a month ago.

The spike in rates came as money supply data released by the European Central Bank showed that real M1 deposits have collapsed at a rate of 2.8pc over the last six months in the EMU bloc of Italy, Spain, Greece, Ireland and Portugal, even though they are rising in northern Europe.

"This is comparable with the decline in early 2008 just ahead of the plunge into recession," said Simon Ward from Henderson Global Investors. "The eurozone periphery is locked into a 'double dip' that will undermine fiscal consolidation."

Italy's M1 contraction began later than elsewhere in southern Europe but is now accelerating. M1 typically gives advance warning of economic shifts by six to nine months.

Mr Ward said signs of recovery in the ECB's broader M3 money data is less reassuring than it looks since the gauge was temporarily boosted by flight to liquid assets on EMU debt worries.

Anonymous said...

David Duke writing about Vladimir Putin:

"There is only one reason for the [periodic]attacks upon Putin and Russia [by the west]. Putin and the Russian people dare to defend themselves from the powers of Jewish supremacism. The oligarchs and the Zionists want total supremacy over the Russian nation, and that’s why they have made Putin a target. Their puppet George Bush, just as in the Iraq war, is happy to serve these masters of the American political landscape. It is not just leaders of AIPAC that are being investigated for spying who should wear the yellow coat of treason, George Bush has surrendered his presidency completely to this foreign power and shames every real American who has pride in our country.

The truth is that Putin in attempting to defend Russia from the power of the Jewish supremacists – is in effect, defending all Americans, and all people everywhere who cherish their freedom and heritage. He is Russian rather than American, but his heritage is far closer to the American people and our interests than the Jewish supremacist misanthropists.

The biggest roadblock to the New World Order and a sublimation of America and Europe to Jewish-supremacist globalism is Vladimir Putin .

As important a figure Putin is for every freedom-loving Russian, he is just as important to those who love freedom in the United States of America, in Britain and all over the European world."

(Remove Duke's word "European" from the final sentence, and we have the truth in a nutshell).

Anonymous said...

16 U.S. Cities Could Face Bankruptcy in 2011
29.12.10

2011 will be the year of the municipal default. At least that's what analysts like Meredith Whitney predict, as do bond investors that have been fleeing the muni market.

There are many reasons to be worried. First, the expiration of Build America Bonds will make it harder for cities to raise funds.

Second, city revenues are crashing and keep getting worse. Property taxes haven't reflected the total damage from the housing crash. High joblessness is cutting into city revenues, while increasing costs for services.

This trend may well accelerate wildly in the coming year.

Anonymous said...

Khodorkovsky Sentencing

The erstwhile king of the Russian oligarchs has been sentenced to 14 years in jail, minus the time already served. Which means he'll be unable to do any harm before the year 2017.

Anonymous said...

Belgium has been virtually canceled
30.12.10

"Belgium no longer works. It is a nation that has failed." This loud statement recently came from Bart De Wever, a candidate for Prime Minister of this country and leader of the Nationalist Party The New Flemish Alliance. Thus, one of the leading politicians of Belgium acknowledged that the country that hosts the headquarters of the EU and NATO is on the verge of a collapse.

(That would be a marvellous present with which to start the New Year).

Anonymous said...

China preparing for armed conflict 'in every direction'

China is preparing for conflict 'in every direction', the defence minister said on Wednesday in remarks that threaten to overshadow a visit to Beijing by his US counterpart next month.

(The Chinese DM knows exactly what he's saying and when to say it. The source of all conflicts is soon to arrive in Beijing. A veiled or not so veiled message from the wise to the foolish).

Anonymous said...

To James and Friends All,

A very Happy New Year. May the next twelve months see us all in excellent health and good cheer. And may the state of the world improve by leaps and bounds in the way we've tirelessly set out in the columns of this blog.

Thank you for an excellent 2010 spent in your company fellow bloggers.

Anonymous said...

Happy 2011, everyone. January 1st and already news of the first war we should be expecting very soon. Ivory Coast with the usual white intervention in the person of GB. Many more to follow? Or could this be the year when peace finally returns worldwide?

Special New Year greetings to poiuytr. Could this be the year he finally returns to the blog?

Anonymous said...

Euro stands just 20pc chance of survival in next decade (1.1.2011)

The euro stands just a one in five chance of surviving in its current form for ten years, according to the Centre for Economics and Business Research.

As public anger grew over bailouts to Greece and Ireland, several senior European politicians openly questioned the euro's future.

In its annual list of predictions, the CEBR said a new eurozone crisis was its number one forecast for 2011, citing the hundreds of billions of euros of debt that members must replace this year.

"If the euro doesn't break up, this could be the year when it weakens substantially towards parity with the dollar," said Douglas Williams, chief executive of CEBR.

Spain and Italy alone must refinance more than €400bn (£343bn) of debt in the first half of the year, which could prove impossible given investor fears over the finances of southern European countries.

"The euro might break up at this point, though European politicians are normally able to respond to a crisis and I suspect that what will break up the euro will be the failure of most of the countries to take the tough medicine necessary to make their economies competitive over the longer term," said Mr Douglas.

Mr Douglas added that he was not ruling out another round of government quantitative easing to support the credit markets and prevent a crisis.

Anonymous said...

Speaking of Zionists (and closet Zionists), here is an interesting list of various Jews and Anglo Crypto-Jews who portray themselves as political "dissidents."

It almost like a who's who list of every (fake) opposition shill in North America.

How do a small number of Jews control a large number of goyim? http://www.erichufschmid.net/Zionist-Bullies.html

And it includes information about Alex Jones, who is a darling of many people and has even been featured on this website:

Alex Jones
http://www.erichufschmid.net/TFC/Alex-Jones-summary.html

Violet Jones
The wife of Alex Jones is Jewish
http://www.erichufschmid.net/TFC/FromOthers/Violet-Jones.html

Anonymous said...

Thanks for links, 22:52. Very useful.

The double game is a well known phenomenon in any war. This one for Jewish Supremacy is no exception. Where we have the most amount of obfuscation, for instance, is in the econ news which makes up the bulk of what is posted on this blog. We hope that everyone has been sufficiently well trained by now to separate the wheat from the chaff.

As regards Alex Jones, no one here gets taken in by him, of that I'm sure. WRH Michael Rivero is one of his most ferocious opponents. So anything AJ says we take with a pinch of salt. But occasionally there is something of interest posted on his blog by someone else, hence our access to it. Also, it's good to keep an eye on what the pseudo dissidence is up to at any given time, don't you think?

Anonymous said...

Hungary to Regulate All Media - 2.1.11

BUDAPEST — Hungary will begin regulating all media directed at or published in Hungary from Saturday, including Internet news portals and web-based publications, under a controversial media law published Friday.

I wonder whether this will make thê media even more subservient than it is already or somewhat freer.

Anonymous said...

Next Year's Wars:

Across the globe today, you'll find almost three dozen raging conflicts, from the valleys of Afghanistan to the jungles of the Democratic Republic of the Congo to the streets of Kashmir. But what are the next crises that might erupt in 2011? Here are a few worrisome spots that make the USan List.

And where are most of the "worrisome spots" located. Why, to be sure: Central and South America. Is 2011 going to be an all out thrust to recover lost authority in what US calls so belittlingly its own black yard.

SouthAm, be prepared. If the Tali can do it, so can you.

Anonymous said...

India to drop US buck in Iran oil dealing
2.1.11

India may drop the US dollar as payment for oil from Iran. The replacement would be the Japanese yen and the Emirates dirham.

According to London’s Asharq Al-Awsat, the switch could help India avoid American retaliation for dealing with the Iranians.

Anonymous said...

China unveils world's longest sea bridge
2.1.11

China has unveiled the world’s longest sea bridge, which stretches a massive 26.4 miles – five miles further than the distance between Dover and Calais and longer than a marathon.

The Qingdao Haiwan Bridge, completed earlier this week, links the main urban area of Qingdao city, East China’s Shandong province, with Huangdao district, straddling the Jiaozhou Bay sea areas.

The road bridge, which took four years and cost a cool £5.5billion to build, will be open for use in the New Year and is almost three miles longer than the previous record-holder, the Lake Pontchartrain Causeway in Louisiana.

Anonymous said...

Chile, Paraguay to recognize Palestinian State: Uruguay also expected to recognize independent Palestinian state based on 1967 borders in March; Ecuador also due to open PA embassy.

Anonymous said...

China-Russia oil pipeline opens - 4.1.11

The new pipeline, Transneft's Eastern Siberia-Pacific Ocean section, will effectively double Russian exports of crude oil to world's largest energy consumer.

("World's largest energy consumer" is shill talk to try and shift the blame of any climate-change charges from their own shoulders to those of the Chinese.)

Anonymous said...

South Africa becomes the latest memeber of BRIC (Brazil, Russia, India China) group which will henceforth beknown as BRICS.

Anonymous said...

A documentary about the Hollywood--the unofficial propaganda mouthpiece of the US war machine.

Operation Hollywood
http://video.google.com/videoplay?docid=-8071178277073763777#

Hollywood is the American Goebbels.

Anonymous said...

Economic Predictions for 2011 (4.1.11)

"Year III of the Long Slump"

- Bond dumping
- Rising bourses
- Technical recession for Japan. Foreign borrowing will henceforth be required. Rating downgrade
- Over-heating in China and India. Possible results: Credit choke, stagflation, food prices inflation
- Vietnam will have to save its banking system
- Downward trend for Australian dollar
- Portugal will not last beyond March 2011
- EU will try and buy up Spanish debt to the tune of Euro 440 bn preemptively
- Bond yields will tighten the vice on every EMU state south of Flanders
- Ireland's Fine Gael Labour Coalition will restructure Senion bank debt
- Greece, Spain and insolvent US cities will follow suit
- The new way will be: bank debt - parastatal debt - quasi sovereign debt. The word "default" will never be used
- European banks will try and refinance $1 trillion by 2012, in competition with hungry countries
- Gold might slip, then go up again
- Consequences of the Long Slump (= our own Terminal Prolapse): Social unrest, with Spain speciallytargeted withits 43% youth without jobs and the Spanish dole running out of money.
- Wage cuts everywhere in the air
- Trade Unions more and more militant
- The only European countries which might carry on unaffected for a while: Norway and maybe Switzerland.

Anonymous said...

11:57 - Exquisite, absolutely exquisite. "Hollywood is the american Goebbels." I quite agree.

Anonymous said...

Bits and pieces about terminal prolapse (5.1.11)

- European nations begin seizing private pensions: Hungary, Poland, and three other nations take over citizens' pension money to make up government budget shortfalls.

- Bank of America Scrambling to Mount Defense Amid Threat of Devastating WikiLeaks Reveal: A team of Bank of America officials is scrambling to investigate its own documents and executives' hard drives in an effort to be prepared, should WikiLeaks release devastating materials about the bank.

- BofA bribes government: BoA Settles $2B Claim On Home Loan Fault: Bank of America has paid out $2.6 billion over allegations leveled by U.S. mortgage giants Fannie Mae and Freddie Mac that it sold loans based on faulty information

- U.S. Home Foreclosures May Top 100,000 In January: Yun says there is a massive shadow inventory — homes not yet on the market where the owners are more than 90 days behind on their payments. "It's just inevitable that they will go into a foreclosure," he says.

- Number of Uninsured Americans Soars to 50 Million: The number of uninsured rose to 50.0 million in 2009, an increase of 4.3 million.

- US healthcare law: Republicans bid to overturn reform: Republican leaders have begun a bid to overturn the healthcare law signed by US President Barack Obama in 2010.

Anonymous said...

Putin Prepares For War

January 05, 2010 "Information Clearing House" -- Vladimir Putin is the most popular leader in the world today. His personal approval ratings are in the stratosphere, usually well-above 80 percent. He is admired for his quiet, confident manner and for having restored Russia to its former greatness following the chaotic breakup of the Soviet Union. The Russian people love Putin. Parents name their children after him, vodka and caviar producers use his name to boost sales, and his face appears on the tee-shirts of students and young people. It's unthinkable that he would step down after his term as prime minister is over a year from today. The Russian people want him to stay on and run for a third term as president, and that's probably what he'll do.

Putin: "One state and, of course, first and foremost the United States, has overstepped its national borders in every way. This is visible in the economic, political, cultural and educational policies it imposes on other nations. Well, who likes this? Who is happy about this?"

Whatever US next has in mind, Putin is on his guard and will make due preparation to face it.

Anonymous said...

Brazil pledges to stop US 'melting the dollar'

The Brazilian real has risen more than 35pc against the dollar since early 2009 leading some economists to label it the most over-valued currency in the world.

Guido Mantega, the Brazilian finance minister, raised the prospect of introducing greater controls on short-term flows of speculative capital into his country.

The Brazilian real has risen more than 35pc against the dollar since early 2009 leading some economists to label it the most over-valued currency in the world.

There is widespread concern about the effects of a weaker dollar on the competitiveness of emerging markets, many of which have seen foreign investment send their currencies soaring.

"We're not going to allow our American friends to melt the dollar," said Mr Mantega, who views the US government's move to pump $600bn (£387bn) into its economy as an unfair attempt to help exports

"There are infinite measures that we can take. One of them is to manage the entry of speculative capital in the short-term."

Brazil moves again to rein in the real 19 Oct
His comments came after Chile's central bank announced a plan to buy $12bn (£7.7bn) of US dollars on international markets on Monday in an attempt to stem its own currency appreciation.

The Chilean peso has gained by more than 17pc cent against the US dollar since June, fuelled by increases in the price of copper, which is Chile's biggest export.

It was Mr Mantega who coined the term "currency war" last year as he voiced concerns that Brazilian exports were being damaged. In October he tripled the tax on foreign investments in some bonds to six per cent, a measure he said had since been "effective".

Brazil plans to make "considerable" cuts in government spending which would help weaken the real and allow interest rates to be cut at some point from the current level of 10.75pc.

Anonymous said...

NFL?
You mean a bunch of fat, overweight, brain-dead boys pushing, petting around on the village lawn?

hi hi hi hi hi hi hi
hi hi hi hi hi hi hi breath

hi hi hi hi hi hi hi hi hi
hi hi hi hi hi hi hi hi
hi hi hi hi hi hi hi
hi hi hi hi hi hi hi breath

hi hi hi hi hi hi hi hi
hi hi hi hi hi hi hi

Anonymous said...

REALITY BITES - Moody's Threatens To Cut US AAA Rating

Very little mention of this story in the financial press, but this is how sovereign bond routs begin. We already borrow 43 cents of every Federal dollar to make the US bloated budget, and apparently Congress thinks that's not enough.

They're aiming for 50 cents this year.

Anonymous said...

Coming social unrest

I've been saying for years that the coming crash is going to be even worse than I think it's going to be. The correction in 2008 was very scary, but minor by comparison. A warmup. Minor trembling in the ground, just before Krakatoa blows.

That the world financial system will have to face a reckoning day has been pretty much a given since the U.S. took the dollar, the world's reserve currency, off the gold standard. Since then, decades of profligacy, not just in the U.S., but all around the world, have distorted the global economy to the breaking point. It's only lasted as long as it has because of the great increases to productivity the computer and other wealth-creating technologies have created, and the fact that many individuals still produce more than they consume and save the difference – even as governments have stepped up their efforts at wealth confiscation.

I thought things might go over the edge in 1980, but I was early. I underestimated how much wealth there was left in the world for the politicians to plunder. But now, while there is more physical wealth in the world, in the form of factories, homes, powerful technologies, etc., there is also massively more debt. Governments – first-world governments, not just banana republics – are sliding towards default, and in the West most individuals have little or no savings. In the East, many have savings tied up in a deflating gargantuan real estate bubble.

For all the reasons we've discussed in many different ways, the Greater Depression we're sliding into is going to be catastrophic for the old world order.

Uneconomic patterns of production and consumption are going to be liquidated – they have to be – and that's going to smash a lot of people's rice bowls. In today's richest societies, people won't be able to move back to the family farm the way they did in the 1930s; there's no farm left in most families. There's not even that much family left in many families –instead of extended families that care for their elders, who educate the young while the able-bodied adults work, we send our elderly to fade away in institutions and our young to be indoctrinated in other institutions, and we barely know what our brothers and sisters are doing, let alone our other relatives. What happens to the huge masses of such people when unemployment benefits can no longer be extended?

Yes, "It can happen here," and it's going to. Maybe not this year, maybe not for several, but when the real crash gets underway, it'll be unstoppable, and it will destroy the status quo with a speed that will leave most people still waking up to the danger after the harm has already been done.

Anonymous said...

re: 00:40

The NFL is the perfect sport for America and these America-lovers in general.

It is a game of steroid-infested American meat jockeys whose only talent is thug violence.

It's kinda like the American military with cleats on.

That's America's National Fascist League.

Are you ready for some football?!

Seig Heil!

Anonymous said...

"lets see our children would all be little nazies"

BTW Captain America: Your precious American children already are little AmeriNazis.

They worship at the church of Americanism with their pledge of allegiance and their glorious Fatherland Security Department.

Ward Churchill Fired for Calling Little Eichmanns Little Eichmanns
http://raimd.wordpress.com/2007/07/27/ward-churchill-fired-for-calling-little-eichmanns-little-eichmanns/

P.S. How do you like those TSA airport reach-arounds?

Anonymous said...

Interesting reading about the TRUE Axis of Evil: The Anglo-American (and Jew) Axis.

Anglo-American Axis

It is this Anglo-American axis (a "special relationship") that has dominated the Western world for the past 150 years. It is a secretive and closely guarded group of families and individuals with enormous wealth derived from the implementation of mercantilist central banking. In recent years, America has provided the military power and to a large extent the corporate vehicles that have projected the "one world" vision of the Anglo-American elite throughout the West, and even to Africa and Asia.

The ruthless progress of the Anglo-American axis – or Empire – depended in large part on secrecy and on the implementation of fear-based dominant social themes that were used to control the expanding populace and to further consolidate wealth and power. These themes were promoted through an intricate array of think tanks, universities and government organizations that first presented the concepts and then provided authoritarian solutions. The introduction of the Internet, like the Gutenberg press before it, has exposed the machinations of the Anglo-American power elite and made visible the secret mechanisms of control via dominant social themes.

The Anglo-American power axis is currently in retreat, its authoritarian promotions giving way to increasingly failed attempts at manipulation via outright force and the implementation of legislation that has not been properly promoted. Since it is impossible for a few thousand to harry the world's billions into submission via brute authoritarianism, one would assume at some point that the latest efforts at global governance would be abandoned and the Anglo-American power elite would take a step back to come up with new control methodologies as they have before.

http://www.thedailybell.com/956/Anglo-American-Axis.html

Anonymous said...

Antiwar activists charged with felonies for the crime of throwing an apple at a US Congressman:

Anti-war activists Ahlam Mohsen and Max Kantar charged with felonies
http://www.workers.org/2011/us/anti-war_activists_0113/

Anonymous said...

China buys up EU government debt: The Spanish daily El Pais on Thursday cited Spanish government sources as saying China has committed to buy about 6 billion euros ($7.89 billion) worth of Spanish sovereign debt. (7.1.11)

Anonymous said...

Europe has turned Kosovo into its very own narco-colony under NATO occupation.

Kosovo: Europe's Mafia State. Hub of the EU-NATO Drug Trail
http://www.globalresearch.ca/index.php?context=va&aid=22486

Anonymous said...

Report: Chile recognizes independent Palestinian state: Chilean President Sebastian Pinera's announcement preceded by official recognition of Palestine by Ecuador, Bolivia, Brazil, Argentina, and Uruguay.

Anonymous said...

Excellent comments above, thanks to all. Palestine's recognition by Chile was thrilling. Right wing and US ally Pinera, too, didn't hold back when it came to a question of justice for the Palestinians. SouthAm has changed beyond recognition. Wouldn't the Che have cheered!

Sure, Kosovo is the narco hub of Europe. Also, in conjunction with the Israelis, a major organs-theft centre for the entire world. For this was the whole Kosovo breakup staged.

Yes, all antiwar activists are going to land in jail, no need to do anything at all. Enough to find the wars unjustified and unbearable.

The Axis of Evil, the true one, decribed in detail what the Anglo-Us-Jewish gang are upto to conquer the world. Most definitely a document to read.

And the National Fascist League story and its corollary couldn't have been better described or with greater punch. A "democratic" US was hard enough to take. God knows where we're headed with a Fascist US. Though of course it's all touch and go. Prolapse first or the next war in the series.

Anonymous said...

Confirmed: US Literally On the Brink of Catastrophic Collapse (8.1.11)

The Treasury Secretary of The United States of America just said that if US doesn't get another $1 trillion or so dollars by March of this year then the country will begin to default on its debt obligations. These remarks are extremely serious and should be understood for what they are. US is, literally and without mixing words, on the brink of economic catastrophe.

The scary thing is, according to Mr. Geithner and the many supporters of raising US debt ceiling, that borrowing more money is the only solution available.

(WRH)

Anonymous said...

More of the same: the economy: (9.1.11)

- News from Spain. Recently Obama made a big thing of creating new jobs, pointing out in the process that like in Spain, the new US jobs could be a part of activating the so-called green economy. Now Spain has put the kibosh on that fond belief. According to a Spanish ecologist, for every one job created in the green sector, 2.2 regular jobs are lost. Abd green jobs never turn out to be permanent. All in all, the green economy is a disaster, said the ecologist, and it's strange that in its distress, US should turn to a country with a 17.8% unemployment rate for inspiration.

Anonymous said...

Add to above that BBC assures us that the US economy has finally lost control of its debt. In fact, this was what crook-i-chief and chairman of the Fed Reserve Bernanke openly told Congress recently. US debt is unsustainable. If severe cuts in expernditure do not follow, there is no guarantee of survival for the dollar.

Anonymous said...

The violent and twisted American Empire that wages genocidal wars of aggression around the world will have that violence returned to its own doorstep.

As people have said about the JFK killing and the 9-11 "terrorist" attack, this is nothing more than a case of the Chickens Cominh Home to Roost for America:

AZ shooting targets US congresswoman, kills 6
http://www.iraq-war.ru/article/240855

White Watch: Congresswoman Gabrielle Giffords among 12 shot at Arizona store by white gunman
http://whitewatch.info/2011/01/08/congresswoman-gabrielle-giffords-among-12-shot-at-arizona-store.aspx

Anonymous said...

23:52, Chickens comiing home to roost, indeed. Economically bankrupt, lost wars abroad, widespread lawlessness at home.

There is some justice in the world after all.

Anonymous said...

Today the United States has only 11,670,000 manufacturing jobs, less than 9% of total jobs. Yet, despite America’s heavy dependence on foreign manufactures and foreign creditors, the idiots in Washington think that they are a superpower standing astride the world like a colossus.

The American Empire is on the rocks, despite its vast arsenal of nuclear weapons and its control over the foreign and domestic policies of its subservient puppet states in Western and Eastern Europe, the United Kingdom, Canada, Australia, parts of Africa, the Middle East, Japan, Thailand, Indonesia, the Baltic states, Georgia, Kosovo, Mexico, Central America, Columbia, and, no doubt, others.

Anonymous said...

Gold Reserves - This is the list we are usually served up these days. Take it with the usual pinch of salt, won't you.

1. US
2. Germany
3. IMF
4. Italy
5. France
6. China
7. Switzerland
8. Japan
9. Russia
10. Netherlands

NO UK? No wonder they suffer from an inferiority complex.

Anonymous said...

The Giffords Shooting

The story gets stranger by the minute. To sum up, Giffords, a Jew, first Republican then a Democrat was known to her shooter. In fact he worked with Giffords on her election campaign. So? anyone's guess.

Last but not least, Giffords attack is now being blamed on Sarah Palin who apparently singled her out as a target for killing. Go figure.

A judge was also present. He got shot and died, whereas the Gifford woman is apparently on the mend. Was she even shot throught the head. Anyway, now one has come to believe the real target was this judge who'd been giving Obama some trouble over slamming in anti-constitutional legislation.

Strangest of all was a little nine-year old girl, also Jewish probably, who like the judge got shot and died. Her date of birth gave it all away: 11th September 2001.

Anonymous said...

Stocks Fall, Bond Risk Rises to Record Before Europe Debt Sales (10.1.11)

Stocks fell worldwide for a fourth day, the longest losing streak since November, and the cost of insuring European sovereign debt against default rose to a record as Portugal, Spain and Italy prepared to borrow at least $43 billion this week. Oil surged.

Anonymous said...

re: 8:18

America is "dependent" alright--in the same way a vampire is dependent on sucking the lifeblood of its victims.

This is the predatory nature of American Dollar Imperialism and free market capitalism in general, which are essential issues that American apologists of stripes (including the fake "antiwar" types) all deny.

The American Empire is a vampire nation through and through.

'Confessions of an Economic Hit Man'
http://www.lewrockwell.com/wanniski/wanniski53.html

Industrial Espionage
How the CIA got the world to buy American during the Cold War.
http://www.slate.com/toolbar.aspx?action=print&id=2254620

Anonymous said...

20:45 - Brilliant, absolutely brilliant. It is the "vampire nation", this monster called US. From its inception till today. Never in check. Never satisfied with the blood it has already consumed.

But one thing I feel is a given: Come the day, we'll be moving about with a lantern in the daylight in our modern day Athens and not a single US apologist will be encountered on any part of the globe.

Anonymous said...

The Western "antiwar" movement is a one of the greatest political trojan horses ever--in many ways, worse than the pro-war flagwavers.

Their agenda is a typical Anglo Double Game: masquerade as opponents to war (which their own countries are waging) in order to shape and manipulate the terms of political opposition itself.

Posing as "antiwar dissidents" gives these Anglo manipulators the necessary political credibility and legitimacy to mis-lead any potential opposition that could arise.

Just ask yourself: What is the last Anglo-American war that the Anglo "antiwar" movement has acutally stopped?

I can't think of one.

Maybe, their track record of failure is by design.

Anonymous said...

05:30 - That was an extremely thought-provoking comment you provided above. Got my head to racing and I have to agree with you entirely that nothing at all approaching an anti-war movement has seen the day over the present Muslim wars.

As to your final question, no antiwar movement actually stopped any wars, true enough. But perhaps the antiwar elements in Britain during the First World War were genuine enough. I cannot really question the integrity of a Wilfred Owen, for instance. Or a Siegfried Sasoon, etc.

Also the huge demos in US against the Vietnam war might have been manipulated to some extent, but still contained people who really didn't want the fight to go on.

Anonymous said...

re: 6:21

The Vietnam War ended primarily due to the ferocious ass kicking the Vietnamese (with material support from the Soviet Union and China) gave to the Americans.

Most Vietnam War protestors were not protesting America's aggression or genocidal-levels of killing against Vietnam.

They were primarly concerned about the cost of the war for the USA in terms of money or blood (their own blood that is).

In terms of the current anti-Muslim Wars, one has to ask where all the Western antiwar protestors have gone from the supposed millions that marched in 2002/2003 against the Iraq War?

Today, you will be lucky to find an antiwar protest in America or other Anglo axis nations that can must even a few thousand "peaceniks."

I wonder why that is?

The lesson that the rest of the world should take, I believe, is that if you rely upon the American antiwar movement to save you from being the latest target of America's wars, you are committing suicide.

You must rely upon yourself and yourself alone for defense against the America Menace.

Anonymous said...

Hi there, 6:21. At least you didn't dismiss my First World War claim. It's the one and only real antiwar movement I have ever come across. Agreed about Vietnam. More of a face-saving effort on the part of US Govt than anything else maybe. Anti-Muslim Wars, who cares? Even the bloody Muslims themselves are doing nothing about it. So to expect something from the West along those lines... Pacifism as a philosophy of life has never meant anything to the West in any case. I should like to add to your "America or other Anglo axis nations" that the rest of Europe is equally passive and mum on the subject.

And yet, and yet: the cost of the war has further ruined the already bankrupt west. As poiuytr used to say so wisely: Afghanistan is the Stalingrad of the west. Their reward they see daily already, the brave Afghan Resistance: dire economy west news on the one hand, the growing, unstoppable liberation of SouthAm on the other (see how they are quietly but firmly offering official recognition to Palestine? They at least know who they have to thank for their long awatied political freedom).

US menace we have never underestimated. As we have never underestimated the tremendous force of the Afghans, the fitting inheritors of the mantle of anti-imperialism of our Ernesto Che Guevara.

Anonymous said...

Once they owned China, now China owns them

On a four-day visit to UK, Vice-Premier Li Kequiang and his 150-strong Chinese delegation cocnluded a series of economic accords with the British. Earlier, in Germany and Spain, China had already ordered luxury items from those two countries to the tune of $20 bn.

In 2010, Chinese Foreign exchange reserves reached a stupendous $2.85 trillion wich China devotes more and more to buying the assets and debts of countries and companies around the world. In other words, made in China is now fast becoming "owned by China".

Just one instance of that ownership, already 13% of Spanish Govt debt is in Shina's hands and it has pledged to buy more of the same in coming months.

Europe consumes 16% of Chinese exports.

Anonymous said...

re: 16:16

That article is typical of the increasing anti-Chinese xenophobia of the Imperialist West.

The West will pathetically portray itself as a "victim" of some nefarious foreign threat out to take them over--while neglecting the fact the European nations and their corporations are aggressively devouring and owning assets in other nations, including in China.

But when the West does it, their propaganda press and people paint this as a natural and normal example of the free market at work and euphemistically call it "investment."

Western imperial double standards as always.

And the fact this website also regurgitates this propaganda says alot about the bogus nature of your "anti-"Western" dissent.

Anonymous said...

Hey 16:16, how did you get to that false conclusion, "the bogus nature of your "anti-Western" dissent? We post from their stuff, sure. It goes faster. We look at it with our own eyes.

Let's just take the China factor. The excerpt on which you comment is taken from the Brit MSM, true enough. But anyone who knows the blog better would know what was meant. We are rejoicing over further confirmation of the terminal west collapse. China, once treated abominably by the west, has now got the upper hand. We are absolutely delighted. All the more so when the west openly acknowldeges the fact that they themselves have become dwarfs to the Chinese giant (thank you Mao).

Let the west shed as many tears as they like. We at least will be laughing like mad. As for foreign "investment" in China, ha, ha, ha! That was probably the cleverest thing the Chinese could have done so far. They could naturalise everything in a jiffy. But they won't be doing that, at least not for now, It's their insurance against any unconsidered military attack on the part of the enemy. By tomorrow, however, the game plan will have changed. Stalingrad will have broken the enemy's back. Just wait and see.

Anonymous said...

Exclusive: America has ‘reached the point of no return,’ Reagan budget director warns

By Nathan Diebenow
Monday, January 10th, 2011

The Obama administration's $78 billion cut to US defense spending is a mere "pin-prick" to a behemoth military-industrial complex that must drastically shrink for the good of the republic, a former Reagan administration budget director recently told Raw Story.

"It amounts to a failed opportunity to recognize that we are now at a historical inflection point at which the time has arrived for a classic post-war demobilization of the entire military establishment," David Stockman said in an exclusive interview.

"The Cold War is long over," he continued. "The wars of occupation are almost over and were complete failures — Afghanistan and Iraq. The American empire is done. There are no real seriously armed enemies left in the world that can possibly justify an $800 billion national defense and security establishment, including Homeland Security."

Short of that, he suggested, the United States has "reached the point of no return" with its artificial creation of wealth, and will eventually face a sharp economic decline.

Stockman last fall criticized the extension of the Bush tax cuts while the federal government continued to borrow money abroad to pay for its public welfare and warfare programs. His solution to deficit spending — a huge across-the-board tax increase — is contrary to the current anti-tax ideology shared among tea party activists as well as fiscal conservatives in the Republican Party.

Stockman, who was appointed by President Ronald Reagan in 1981 to run the Office of Management and Budget, offered two models for the US military's compulsory demobilization: the one after World War I in 1920 and the one after World War II in 1946.

Calling today's military spending running at 5.4 percent of GDP "simply an absurd level that begs for radical contraction and surgery," he said that a "reasonable target" to shrink the defense establishment would be 3 percent of GDP by 2015.

What budget cuts?

Republicans, who were elected to a majority in the House of Representatives on promises to cut government spending, promised to cut $100 billion from the budget in their first year. Relatively few have proposed significant decreases in defense spending, and GOP leadership has outright dismissed the possibility.

Some prominent members of the House GOP caucus have even suggested the sum of their austerity measures could fall to only $30 billion, if that.

Republicans in Congress have instead championed their success in extending President George W. Bush's tax cuts for the wealthiest Americans. The Congressional Research Service reported (PDF) that extending debased tax rates to the wealthy will add an additional $5.08 trillion to the US deficit over the next 10 years.

(Some more welcome prolapse acknowledgement from the horse's mouth. Doesn't go far enough, but one can't have everything.)

Anonymous said...

Jobless claims jump, wholesale food costs surge

Reuters | U.S. jobless claims jumped to their highest level since October last week while food and energy costs lifted producer prices in December.

Karma catching up with US and the rest of the west. Prosperity is but an illusion.

Nussiminen said...

As for US so-called "defense" spending cuts, my take on the subject is that the USians are "damned if they do, and damned if they don't". If cuts ARE enacted then -- apart from the lesser problem of the arch-reactionary American rabble going totally bonkers -- the Empire's mercenaries and stooges will bite the dust much faster at the hands of its enemies. If cuts ARE NOT enacted, well, let the economy be smashed into pieces.

Anonymous said...

Nussinen, hello! Exactly as you put it. Either way, the path to hell is paved. Actually, what is going to happen is there will be dffence cuts and the economy will still not find its feet and recover. After all, we are in a situation beyond repair.

Anonymous said...

Europe fears motives of Chinese super-creditor
The EU authorities fear that China's purpose in buying eurozone debt may be double-edged, intended to push up the euro exchange rate against the yuan and gain advantage for exports.

China has pledged to use part of its £1.82 trillion reserves to safeguard global stability 13 Jan 2011

Herman Van Rompuy, Europe's president, said during a visit to Downing Street that the Chinese may have "political" thoughts in the back of their minds for coming to Europe's help, and gave a strong hint that they are also engaging in currency manipulation.

"When they buy euros, the euro becomes stronger and their currency a little bit weaker. That is not neutral in regard to their competitive position. But I go no further in this topic. It could be too delicate," he said.

Mr Van Rompuy nevertheless welcomed the latest purchases of bonds from the eurozone periphery as a valuable gesture of support. "They invested even in some weak countries, so they are very confident in the solvency of some countries," he said.

China has emerged as the transforming force in the eurozone debt crisis over recent days, pledging to use part of its €2.87 trillion (£1.82 trillion) reserves to safeguard global stability. The question is whether the Communist regime is hoping to extract strategic concessions in exchange.

The footsteps of a giant creditor were clearly felt in Portugal's bond markets on Wednesday, and again on Thursday in Spain and Italy. Madrid sold €3bn of five-year debt at 4.54pc, a full percentage point jump from November but still below the danger level. Italy also enjoyed a benign auction.

(MSM tripe as usual. Currency manipulation, my foot. The textbook prolapse situation. China is buying up EU now).

Anonymous said...

Guyana has become the sixth Latin American country to recognise an independent Palestinian state.

"It is Guyana's hope that the increasing recognition of the state of Palestine will contribute to a resolution of the Israeli-Palestinian conflict and the creation of lasting peace and stability in the region," the foreign ministry said in a statement on Thursday.

Guyana's decision, the statement said, "is in keeping with Guyana's long-standing and unwavering solidarity with, and commitment to, the just and legitimate aspirations of the people of Palestine for the exercise of their right to self-determination and to achieve a homeland of their own, independent, free, prosperous and at peace."

Guyana joins Brazil, Argentina, Bolivia, Uruguay and Ecuador in recognising Palestine as an independent state within the borders that existed before Israel captured the West Bank, including east Jerusalem, and the Gaza Strip in the 1967 Middle East war.

Nussiminen said...

Indeed, Palestine is at the forefront in the world's epic battle of liberation against imperialism in general and Zionazi imperialism in particular. Latin America understands this only too well. Now, care to guess how long it will take before Murdoch et al bring up the topic of "Rampant anti-semitism in Latin America" ?

Anonymous said...

Nussiminen, not to worry about what Murdoch may or may not say. Dig what is said below:

Norway says it will be first EU nation = European nation to recognise Palestine

Norway announced on Wednesday that it will be the first EU country to recognise a Palestinian state once the Palestinian institutions are set in place.

Anonymous said...

A more complete picture of SouthAm Palestinian recognition:

Guyana became the 10th nation to recognize a Palestinian state on Thursday, joining Chile, Brazil, Argentina, Bolivia and Ecuador who all pronounced their support over the past two months.

Two other South American nations, Paraguay and Uruguay said recognition would come in 2011 (Venezueal could also be added to tis list), while recognition from Costa Rica, Nicaragua and Cuba came during the 1980s.

Murdoch will have real heartburns throughout the months to come.

Nussiminen said...

En cuanto a Murdoch, ¡que se joda! After all, his gutter press only makes sense to our beloved baboons, to use poiuytr's remarkably apt expression. My "tantalizing" question about coming smear campaigns against Latin America was a manifestation of refined amusement exclusively -- no worries there.

Smash the Zionist Entity forever!

Anonymous said...

Food riots thorughout the world

- Tunisia has got the farthest there so far. Apparently criminal-in-chief Ben Ali has fled the country. His PM has taken over. Talk as well of the army out in numbers in Tunis. A bogus, colouor thing or the genuine article, a popular uprising?

- Algeria is going down that road as well, though MSM (your go-fuck-yourself Murdoch & Co, Nussiminen) has kept it on the back burner. They do have an insurrection movement in the mountains. Perhaps it will now descend and take matters into its own hands.

- Jordan has now flared up.

Up the poor of the world! Down with the rich and their baboons!

I seriouly miss the Che on such occasions. Oh, a world revolution, a world revoluton, my kingdom for a world revolution!

Nussiminen said...

¿ Qué cojones dices, Gringo de mierda ? Being a mass-murderer is an indispensable prerequisite to curry favour with the Amurrrkans, except if killing Amurrrkans is what's being implied. Are you suggesting Che would be less popular throughout the world (N.B. outside of Yankistan, if that's not beyond your mental capabilities) had he slaughtered your ilk? Grow up, kid.

Anonymous said...

Nussiminen, thanks for above. My problem with USans is I don't even understand what they are getting at, the comment above is a case in point. What the hell is he trying to say? How come he equates us with Obama? How come he makes a distinction between those who deserve our support and those who don't? And where the hell does he get off justifying the war on Afghanistan, when the whole world knows 9/11 was a wholly inside job nad Iraq had no weapons of mass destruction, the ostensible reason for Shock and Awe?

Hey USan, if you're really one, look to your own people for the murderers of their own kind. They are killing US, no one else. Happy NFL.

Nussiminen said...

18:25 -- Your question "What the hell is he trying to say?" is right on the mark. Assuming we're dealing with a USan, we should unceremoniously dismiss him/her henceforth as "CHG" (= Certified Human Garbage), body and soul alike.

NFL = Neanderthalian Freaking Loons

Anonymous said...

Bravo, Nussiminen, well put! CHG it will be henceforth.

Anonymous said...

The people of Tunisia are fighting for their lives, for their future, for the liberation of the entire Muslim community.

Today Tunisia, homegrown and getting better organised day by day, tomorrow: Algeria, Morocco, Jordan, Egypt and the best of them all: Palestine. The day after tomorrow: Pakistan.

Come on, you Arabs, take the lead in something apart from venality at long last.

Anonymous said...

'More British families failing to pay rent'

An increasing number of British families have failed to pay their rent in the last quarter of 2010 as job losses and pay decreases haunt people across the UK, a new survey reveals.

"Jolly good!* We can take their homes now!" -- The Bank of English Money-Addicts. Goody, goody, new foreclosures in view as across the Atlantic.

Anonymous said...

Iran joins Venezuela, Libya to say no harm in $100 oil^- By Ramin Mostafavi
TEHRAN | Sun Jan 16, 2011

TEHRAN - OPEC's leading oil price hawk Iran joined Venezuela and Libya on Sunday to say it saw no need for the cartel to consider raising crude supplies to rein in crude prices now near $100 a barrel.

Iranian Oil Minister Massoud Mirkazemi said some members of the Organization of the Petroleum Exporting Countries saw no need for producers to act even if prices went to $120 a barrel. The comments will be of concern for consumer countries worried that rising commodity costs are igniting inflation and jeopardizing economic recovery.

"None of the OPEC members find $100 concerning or irrational. Some of the OPEC members see no need for an emergency meeting even with prices at $110 or $120," Mirkazemi, OPEC president for 2011, told a news conference.

"None of the members have asked for an emergency meeting and I think for a long time there would be no such request," Mirkazemi said.

As holder of the rotating OPEC presidency, Iran has responsibility for coordinating any emergency meeting with OPEC's Vienna based secretariat. The next scheduled meeting is not until June 2.

Venezuelan Oil Minister Rafael Ramirez said on Sunday that $100 was "fair value" for crude, a position that Libya also backs.

Benchmark Brent crude broke $99 a barrel on Friday, a 27-month high, while U.S. oil futures rose to $91.54, well above the $70-$80 range that OPEC's most influential member Saudi Arabia says is comfortable for both producers and consumers.

James Wolfe said...

The Brits are whining and crying over BP’s deal with Rosneft, its hilarious reading comments on the Daily Mail and Daily Telegraph little Englander right wing imperialists and racists can barely contain their anger and embarrassment. For over a decade the British media have been smearing and propagandizing against Russia and Vladimir Putin. Britain has been spying on and trying to de-stabilize Russia. Now after the US nearly bankrupted BP, BP has been forced to go cap and hand to Russia.

This BP deal is, finally, the death of the British Empire
By Mark Almond

Last updated at 12:39 AM on 16th January 2011
They were smiling but the picture was of a funeral ceremony.
Looking on from the shadows as the American CEO of BP and the representative of the Russian state oil company, Rosneft, shook hands on their dramatic link-up was our Energy Secretary, Chris Huhne.
His role was as undertaker at the wake of an independent British energy policy.
Once, the half-hidden face of a British Minister at the making of such a deal would have signalled who was the real power-broker.

http://www.dailymail.co.uk/debate/article-1347598/MARK-ALMOND-This-BP-deal-finally-death-British-Empire.html

BP-Rosneft deal: Russia takes 5pc stake in BP, raises trust fears

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8261360/BP-Rosneft-deal-Russia-takes-5pc-stake-in-BP-raises-trust-fears.html

BP gives 5% stake to state-owned Russian oil firm as they reveal plans to drill Arctic

http://www.dailymail.co.uk/news/article-1347322/BP-takes-9-5-stake-state-owned-Russian-oil-firm-reveal-plans-drill-Arctic-shell.html

With the economic collapse and the UK's top businesses going to foreigners for help. Right wing racist imperialists Brits are beginning to realize they are not as great and important as they think they are. The Brits are being put their place.

PS

I’ll continue to delete the American troll's mendacious and inane posts. I’m not going to tolerate his nonsense.

Anonymous said...

Thanks for that, James. Excellent news about the Brits losing BP to Russia. Have you seen how they are being hemmed in from both ends? China, on the one hand, discreetly taking over parts of the local Brit economy, or what remains of it, Russia, now, taking over the oil.

And we laughing our heads off.

As for mendacious man US citizen, doesn't seem as though he got much past kindergarten. Well, it takes all sorts.

Good to have you back, James.

Nussiminen said...

For starters: As regards our little piece of CHG, I believe it's unfair -- with regard to children attending kindergarten -- to suggest the former ever "got past" the latter. Adolescent and adult USians are morally and physically degenerated beyond repair, thus testifying to their very severe REGRESSION from childhood.

BP/Rosneft oil deal: It is indeed hilarious how the British baboons and their like-minded ilk elsewhere now feel "stabbed in the back". I couldn't possibly agree more with poiuytr's superb sarcasm targeting these über-faithful bootlickers of Western monopoly capital. Their Holy God has failed them, but since there is no substitute available to defend their parasitic lifestyles, we're thus invited to laugh our butts off at their silly tantrums.

Vladimir Putin: Please soooothe the baboooons with a fair supply of Vodka (remember Sarkozy in Heiligendamm, summer 2007?)

Anonymous said...

Good one, Nussiminen, good one.

And now your comments please on the following text. Much gratitude in advance.

Nussiminen said...

My sincerest comment on the text is, in fact, quite blunt:

It resembled the USian intellect: A gaping void :-)

Anonymous said...

The text in question seems to have been deleted. I wonder what happened. Well never mind. Thanks Nussiminen. The next time perhaps. It was one by Webster Tarpley. But I'm damned if I'm going to post it again. Once is more than enough for me.

Anonymous said...

The brutal truth about Tunisia (17.1.11)

The end of the age of dictators in the Arab world? Certainly they are shaking in their boots across the Middle East, the well-heeled sheiks and emirs, and the kings, including one very old one in Saudi Arabia and a young one in Jordan, and presidents – another very old one in Egypt and a young one in Syria – because Tunisia wasn't meant to happen. Food price riots in Algeria, too, and demonstrations against price increases in Amman. Not to mention scores more dead in Tunisia, whose own despot sought refuge in Riyadh – exactly the same city to which a man called Idi Amin once fled.

If it can happen in the holiday destination Tunisia, it can happen anywhere, can't it?


... and not just the Arab world. Remember Iceland?

Anonymous said...

Riots spread as global food shortage worsens

The food riots began in Algeria more than a week ago, and they are going to spread. During the last global food shortage, in 2008, there was serious rioting in Mexico, Indonesia and Egypt. We may expect to see that again, only more widespread.

Anonymous said...

Venezuela Says Oil Reserves Surpass Saudi Arabia's
17.1.11

Venezuela has overtaken Saudi Arabia as the world leader in oil reserves with certified deposits leaping to 297 billion barrels at the end of 2010, President Hugo Chavez's government said Saturday.

Energy Minister Rafael Ramirez told Reuters that the new reserves, which pushed the total 41 percent higher than the previous year, were booked in the South American OPEC member's vast Orinoco extra heavy crude belt.

A jubilant Chavez told parliament that Venezuela's reserves now surpassed those of Saudi Arabia.

James Wolfe said...

I choked on my KFC lunch when I read this yesterday lol

A source, who we cannot identify for security reasons, said: "This war is a free-for-all. Anyone can come and fight if they want. Many foreign fighters come here."

http://www.thesun.co.uk/sol/homepage/news/campaigns/our_boys/3354458/Brit-plotter-is-in-Helmand.html

This Afghan war is nothing like what's being reported in the MSM.

Anonymous said...

Quite, James, MSM, the whores purveying the official word, are good for nothing but our contempt. The only thing worth real thought in the Sun article was the following assessment:

"They will be watching and looking for the opportune moment to strike. The Taliban have all the advantage in this area.

"Every time we have been here we have been shot at. The Taliban are not amateurs, they are a well-drilled and disciplined enemy."

I'll add to that: the Afghan Resistance is composed of genius fighters defending their own terrain.

I'll soon post one of their own latest bulletins on the way the fighting is going in Afghanistan.

I'llpost something by the A

Anonymous said...

NATO tankers torched in Pakistan - 18.01.2011

A powerful bomb explosion in Pakistan's violent northwest has targeted several NATO tankers carrying fuel for the US-led foreign troops in neighboring Afghanistan, Press TV reported.

The blast took place late Monday at a terminal near the Torkham border crossing in Khyber tribal district.

Local officials say at least 25 NATO oil tankers have been torched in the incident.

"Around 25 tankers were parked at the terminal. Militants planted a bomb in one of the tankers which exploded triggering a fire," AFP quoted local administration official Iqbal Khattak as saying.

Trucks carrying supplies for foreign forces in Afghanistan frequently come under attack in Pakistan.

Militants have destroyed hundreds of NATO vehicles in northwestern and southwestern Pakistan over the past two years.

However, the attacks on NATO supply convoys did not stop the US military from carrying out its drone attacks inside Pakistan's territory.

http://en.trend.az/regions/world/ocountries/1813263.html

Anonymous said...

Impotence of the major global geopolitical players - The Great Leveller in Action in 2011
World Chaos

The impotence of the major global geopolitical players is the other path that the crisis can use to produce world chaos in 2011. In effect, one can place the major G20 powers in two groups whose only point in common is that they are unable to influence events decisively.

On one side we have a moribund West with, on the one hand, the United States, for whom 2011 will show that its leadership is no more than fiction and which is trying to freeze the entire international system in its configuration of the early 2000s, and on the other hand we have Euroland, “sovereign” in the pipeline, which is currently mainly focused on adapting to its new environment and new status as an emerging geopolitical entity and which, therefore, has neither the energy nor the vision necessary to influence world events.

And on the other side are the BRIC countries (with China and Russia in particular) who are, at the moment, proving to be incapable of taking control of all or part of the international system and whose only action is therefore limited to quietly undermine what remains of the foundations of the pre-crisis order.

Ultimately, impotence is widespread at the international community level, increasing not only the risk of major shocks, but also the significance of the consequences of these shocks. The world of 2008 was taken by surprise by the violent impact of the crisis, but paradoxically the international system was better equipped to respond being organized around an undisputed leader. In 2011, this is no longer the case: not only is there no undisputed leader, but the system is bloodless as we have seen above. And the situation is aggravated further by the fact that the societies of many countries in the world are on the verge of socio-economic break-up.

Anonymous said...

Israel concerned Russia will recognize Palestinian state - 18.1.11

Israeli officials fear that Russian President Dmitry Medvedev will announce on Tuesday during a visit to Jericho that Russia recognizes a Palestinian state based on the 1967 borders.

(Which Medvedev has done.

Did you ever think you would live to see the day when Russia leads the world towards peace away from the world of war desired by the US and Israel?

Of course, Israel has no place to complain with all the nations recognizing Palestine. Israel's existence goes back to a declaration by David Ben Gurion and a single recognition from Harry Truman. Israel can hardly refute the path to Palestinian statehood that Israel itself used.)
WRH

Anonymous said...

RE: aove

In 1988 the Soviet Union backed a declaration of statehood by Yasser Arafat, the leader of the Palestine Liberation Organisation, a move that gained little traction outside the Soviet bloc.

Mededev simply reiterated that position, adding: with East Jerusalem as its inalienable capital.

Anonymous said...

China's president says dollar should no longer be world's top currency: China’s president today raised grave questions over the future of the dollar by claiming it should no longer be used as the world’s reserve currency. Hu Jintao said that using the American currency as the default for international trade and investment was a ‘product of the past’. (statemnt made on the eve of his visit to US)

Anonymous said...

USan, go fly a kite, if you even know how. You're too sickening for words, you and your country both.

Nussiminen said...

To our beloved CHG Gringo de mierda:

Oh my ugly, oh my ugly, oh my UUUUGLY piece of trash
Yankee drivel
Void and trivial
Not a braincell left to smash

Care to add a verse, ¿ hijo de puta ?

Anonymous said...

Splendid to see you in action again, Nussiminen. But I doubt the person from US can take you up on the challenge to match verse for verse. They are too busy with their warped, warmongering style of life to have wandered down the path of reason and rhyme.

Nussiminen said...

Agreed, 07:23. Just a little curious whether his mental capabilities will prove sufficient to figure out which melody the above lyrics are hinting at (it's a crappy USian ditty, after all).

Anonymous said...

James, a word with you, please. Why on earth do you keep deleting stuff we post here without a word of explanation? At least poiuytr always let us know why he found something objectionable. Is it that you want to chase away any of the old bloggers who still back up this site? Say so openly then and we'd be only too happy to oblige and clear off.

Anonymous said...

Give James a break, would you, 14:22. He's done his level best under very difficult circumstances. I for one would greatly regret it if this blogsite came to any harm. So just go on as before and if something does get deleted for some reason or the other, just shake your head, shrug your shoulders and carry on as before. Thanks in advance for understanding I only mean the best for us all.

Anonymous said...

Well, folks, British Airlines is now no more. It comes to us now under the new name of International Airlines Group (IAG) after its £5.3bn all-share merger with Spain's Iberia.

Forecast: IAG will not fare much better than BA and Iberia did separately. Remember what happened when BA merged with KLM an Quantas a few years ago?

Latest BA cbain crew strike underway.

Anonymous said...

China devalues US buying power by 30%, Protects US Treasury Holdings (20.1.11)

The trade imbalance between the US and China, a hot button between the nations for the last decade or so, is finally going to start to stabilize in the summer of 2011. However, it is doing so with a de facto devaluation of the US dollar and its buying power. The average American will see a spike in the price of everything from their favorite jeans and T-shirts, to the cost of some electronics.

The Chinese have decided to devalue the US dollar’s buying power, without devaluing the US Treasury holdings they hold. It is an elegant solution to their issues.

(Yet another scam. How US loves them! One way or another, however, China comes out on top, which is all that interests us readers on the blog.)

Anonymous said...

News in Brief (21.1.11)

- Bank of America, the biggest US bank, reported Friday a net loss of $1.2 billion for the fourth quarter.

- Nearly 90 Percent of Germans Do Not Believe Official 9/11 Fairy Tale. The survey was conducted by TNS Emnid, one of the largest polling institutes in Germany. How mature of the Germans!

- Irish PM Brian Cowen announces 11 March election. Irish Prime Minister Brian Cowen has announced that he intends to dissolve parliament and call a general election on 11th March.

Anonymous said...

Some more US "creative" money scams:

California Declares Fiscal Emergency: California’s governor, declared a state of fiscal emergency on Thursday for the government of the most populous US state to press lawmakers to tackle its $25.4 billion budget gap.

Path Is Sought for States to Escape Debt Burdens: Policy makers are working behind the scenes to come up with a way to let states declare bankruptcy and get out from under crushing debts, including the pensions they have promised to retired public workers.

Anonymous said...

Spain to rescue its banks (21.1.11)

The Spanish government is set to launch a sweeping restructuring of its troubled regional savings banks in an attempt to reassure the market it can sort out the problems of its financial system.

Spanish protestors hold signs reading 'where is the money?' outside the country's central bank
Forty out of a total of 45 Spanish cajas will merge or form operating alliances with each other as the authorities look to prevent fears over the banking system from morphing into a wider market run on the country as a whole.

Alfredo Perez Rubalcaba, Spain's deputy prime minister, said: "The government is preparing a plan, the aim of which is to increase the solvency and the credibility of the savings banks."

It is hoped that private investors can be found to put money into the cajas. However, Spain's Fund for Orderly Bank Restructuring could take stakes in those that are unable to attract outside investment.

(Look out for Italy next).

Anonymous said...

Which Of The Currencies Of The World Is Going To Crash First? - 24.1.11

Last year was an absolutely fascinating time for world currency markets. The yen, the dollar and the euro all took their turns in the spotlight. Each experienced wild swings at various times, but the overall theme that we saw was that faith in paper currencies is dying. The biggest reason for this is the horrific sovereign debt crisis that has swept the globe. The United States, Japan and a whole host of European nations are all drowning in debt. The U.S. and Japan are both steamrolling toward insolvency, and several European nations would have already defaulted on their debts if they had not been bailed out. So which of the major currencies of the world is going to crash first? Will one (or more) of the big currencies fall before the end of 2011? Once one major currency collapses will the rest start to fall like dominoes? The truth is that the world has never seen a sovereign debt crisis of this magnitude in all of human history. Almost the entire globe is drowning in a sea of red ink and it has brought us right to the brink of financial disaster.

So which of the currencies of the world is going to be the first to come crashing down? The yen, the euro and the dollar....?

Nussiminen said...

The West's currency mess, interesting as it is, is accompanied by a still more exciting -- and strongly related -- issue:

Which one(s) of the West's labour aristocracies/middle classes will come crashing down first? The USians, the Britzies, the €unuchs, or some other constituency? Needless to say, all of them deserve all of it, for all I care. Just imagine their pallid faces and rabid hysteria as Western society collapses all around them while their revered betters unceremoniously ask them to bugger off, possibly at gunpoint even.

Anonymous said...

Nussiminen, you write after my own heart. A few short lines only, but I can already picture them, trembling, weak at the knees being ushered out of the country by the livid masses. And actually, it hardly matters which comes first, the chicken or the eggs. It should just happen in any order that suits. May our lifelong patience with all these money-crazy, bloodthirsty scammers be finally rewarded.

Anonymous said...

Saudi man sets himself on fire, copying Tunisian scenario : — A Saudi man died after setting himself on fire in the southwestern town of Samta, local media said Saturday, in what could be the latest example of a rash of self-immolations sweeping the region following events in Tunisia.

Arabs, stand up and fight!

Anonymous said...

Our currency has gone West and stagflation will soon be upon us

High inflation and a falling make it tougher for Britain to sell gilts, which we're about to do in near-record quantities.

Liam Halliagan - 22.1.11

The UK's Consumer Price Index rose 3.7pc during the year to December 2010. While this was, apparently, a "shock increase" – up from 3.3pc the month before – regular readers of this column weren't surprised.

The UK is experiencing a sharp "double dip" – even if the economy escapes slipping back into recession. British GDP expanded 2.7pc between July and September 2010, compared with the same period the year before. Fourth-quarter growth, though, was much slower.

When the numbers are published on Tuesday, we could be told that between October and December the UK didn't grow at all.

Sterling's decline and the impact of our particularly nasty credit crunch on productive capacity, always meant that the UK was prone to inflationary pressures.

Anonymous said...

3 more US banks go the way of all flesh

Federal regulators closed United Western Bank on Friday evening, ending the $2 billion thrift's long struggle to raise capital and survive.

The FDIC on Friday also took over Bank of Asheville, based in Asheville, N.C., with $195.1 million in assets, and CommunitySouth Bank and Trust, based in Easley, S.C., with $440.6 million in assets.

Anonymous said...

End of Euro? ... Ireland Prints Own Notes
By: Ethan Allen and...
Tags: CURRENT EVENTS
Emergency lending from the ECB to banks in Ireland fell in December, the first decline since January 2010, but only because the Irish Central Bank stepped up its help to banks. The Irish Independent learnt last night that the Central Bank of Ireland is financing €51bn of an emergency loan programme by printing its own money. ECB lending to banks in Ireland fell from €136.4bn in November to €132bn at the end of December, according to the figures released by the Irish Central Bank yesterday. At the same time, the bank increased its emergency lending by €6.4bn, bringing the total it is owed to €51bn. – UK Independent (23.1.11)

Anonymous said...

China Bank Moves to Buy U.S. Branches: China's biggest bank signed an agreement that would make it the first Beijing-controlled financial institution to acquire retail bank branches in the U.S., though regulators could still block the deal. (24.1.11)

Anonymous said...

Moscow International Airport Bombing - Over 30 persons killed (24.1.11)

SO WHO DID THE MOSCOW BOMBING AND WHY?

The questions that analysts must ask are these: First the obvious one; is the bombing of Moscow airport linked to Russia’s recognition of Palestine and, if so, then who is responsible and why? And, secondly; if it is not linked and Chechen Islamic fighters are responsible, then why and to what end did they take this action considering that Chechnya has recently enjoyed a reasonable period of calm.

I think we all know the first answer must be the correct one. Coming days will reveal how Russia responds to this attack on its sovereignty.

Anonymous said...

Cairo protest: Clashes on Egypt's 'day of revolt'

Police in Cairo are using tear gas and water cannon to try to quell rare anti-government protests.

Thousands have joined the protests after an internet campaign inspired by the uprising in Tunisia.

They are marching through Cairo and other areas chanting anti-government slogans, after activists called for a "day of revolt" in a web message.

Anonymous said...

Ireland upgrades status of Palestinian mission to embassy (25.1.11)

Anonymous said...

Hezbollah's candidate to form Lebanese government (25.1.11)

Billionaire businessman and former premier Najib Mikati won a majority of parliament support in two days of voting that ended Tuesday.

He defeated Western-backed Saad Hariri, who has been prime minister since 2009.

Mikati's win comes as Sunnis protested the rising power of the Syria- and Iran-backed militant group Hezbollah, burning tires and torching a van belonging to Al-Jazeera.

(One has to wonder just how soon Israel will be reinvading Lebanon, considering this turn of events.

This appointing of a Hizbullah-backed candidate as Prime Minister Elect by Lebanon's President may well be the "justification" Israel uses for its next military strike against Lebanon.)

WRH - I personally don't agree with Rivero's comment here. But time will tell.

Anonymous said...

US Staggering: On the one hand, the "Sputnik moment", nonsensical State of the Union speech of the Pres of the Baboons, on the other, this sober assessment by the IMF, no friend of ours either, but in this case spot on (though of course it doesn't go far enough to announce the prolapse:

IMF chides US for fiscal folly (25.1.11)

The International Monetary Fund (IMF) has issued its clearest warning to date that the latest US fiscal stimulus is ill-judged, unlikely to do much for growth and raises the risk of a bond crisis over the medium term.

The IMF said the US economy was enjoying a short-term spike as a result of quantitative easing by the US Federal Reserve and the fiscal package agreed by Congress and the White House late last year, but expressed reservations about the side-effects of these policies.

"Although some targeted measures in the US are justifiable at this juncture given the still weak labour and housing markets, the recently implemented stimulus is expected to deliver only a relatively small growth dividend [given its size] at a considerable fiscal cost," the IMF said in its update to the World Economic Outlook.

The IMF said the deficit would remain stuck at 10.75pc of GDP in 2011, with public debt exceeding 110pc of GDP in 2016.

"The absence of a credible, medium-term fiscal strategy would eventually drive up US interest rates, which could prove disruptive for global financial markets and for the world economy," it said. The report called for an assault on America's entitlements behemoth, and caps on discretionary spending.

The deal between President Barack Obama and Capitol Hill extended the Bush tax cuts for rich and poor alike, and added fresh spending, angering the Tea Party hard-liners. "We are much closer to the Greece-Ireland-Spain precipice than any of us would like to believe," said Congressman John Campbell.

Anonymous said...

Gamal Mubarak reportedly flees Egypt
25.1.11


The son of Egyptian President Hosni Mubarak, Gamal Mubarak, has reportedly fled Egypt for the UK with his family. Unconfirmed reports out of Cairo say the younger Mubarak boarded a private jet bound for London with his family and nearly one hundred pieces of luggage. His departure, if confirmed, comes after a day of unprecedented mass protests in the streets of Cairo and other cities throughout Egypt.

Anonymous said...

The 11 US States Most Likely to Default in the Near Future

#11 - Pennsylvania - Governor Ed Rendell
#10 - Florida - Governor Charlie Crist loses his concentration...
#9 - Ohio - Governor Kasich
#8 - Massachusetts - Governor Patrick
#7 - Rhode Island - Governor Donald Carcieri
#6 - New York - Governor David Patterson
#5 - Nevada
#4 - New Jersey - Governor Chris Christie
#3 - Michigan - Governor Jen Granholm
#2 Most Likely to Default - California
#1 State Most Likely to Default - Illinois

Anonymous said...

Top news today is none other than the uprising in Egypt. Here's something of an update:

• Reformist Mohamed ElBaradei returning to country
• Death toll from protests has risen to six
• International criticism of police crackdown
. Egyptian Stockmarket (shudder, shudder! what a thing to have in Egypt. No bread, but a stockmarket) has gone down by over 8%.

There is a sense of calm before the storm in Cairo today, as protesters prepare for an all-out surge tomorrow following the afternoon prayers in mosques and churches around the country. A heavy security presence remains in place across the capital, whilst hundreds of those arrested since this uprising began will begin being interrogated today; activists are appealing for lawyers to come forward and help with their cases. Meanwhile violence continues in other parts of the country, particularly Suez where anti-government demonstrators set fire to the local headquarters of the ruling NDP party and continue to clash with security forces. Many eyes today will be on Mohamed ElBaradei, the former UN nuclear weapons chief who has emerged as a dissident rival to President Mubarak and whose return to Egypt is imminent. Many of those who have taken to the streets in the last two days are angry that ElBaradei only offered lukewarm support for these protests before they began; now, some say, he is trying to crash the party late. But with his international name recognition there is a feeling that the security forces will be wary about attacking ElBaradei on the ground – some are now hoping he will join rallies in Cairo, offering protesters a bit of much-needed protection from the charges of the riot police.

Anonymous said...

Thousands of Palestinians march against Abbas in Gaza. More on this when we know more.

Anonymous said...

Bank Of England Chief Says: 'Say Hello To The
1920s

Households face the most dramatic squeeze in living standards since the 1920s, the Governor of the Bank of England warned, as he reacted to the shock disclosure that the economy was shrinking again.

(Prolapse marching on quite nicely all in all).

Anonymous said...

Egypt braces itself for biggest day of protests yet (28.1.11)

Pressure builds on the president, Hosni Mubarak, as banned Muslim Brotherhood backs protests, El Baradei is probably going to lead the demonstrations as well.

Anonymous said...

Warning shot for America and Europe as S&P downgrades Japan

Standard & Poor's has downgraded Japan for the first time in nine years, citing lack of a "coherent strategy" to control its monster deficits or grasp the nettle to reform.

Japan's tax revenues covered just 52pc of spending in 2010

The move is a chilly reminder that sovereign debt woes continue to fester across much of the industrial world, and still pose a threat to the fragile global recovery.

The US rating agency cut Japan's $10.6 trillion (£6.6 trillion) debt one notch to AA-, warning that the mix of government paralysis, a shrinking workforce and a fast-rising interest burden have left the country's debt dynamics on an unsustainable footing.

(Prolapse plus... and on and on it goes...)

Anonymous said...

James, you'd be doing us a great kindness if you were to post another video under which to write our comments. This particular one is getting somewhat unwieldy. Thanks beforehand for what you might be able to do.

Anonymous said...

Yesterday, Friday, 28th January, 2011, was Egypt's day with the people of Cairo, Suez and Alexandria taking to the streets in droves to battle the forces of law and order. Hosni M. still around. But not for very much longer by all accounts. While the Egyptians were braving death, others also went out to show support:

Hundreds of people around the world held demonstrations near Egyptian embassies to support the ongoing protests against President Hosni Mubarak.

In Turkey, groups of people gathered outside the Egyptian Embassy in Ankara in a show of solidarity with protesters in Egypt.

In London, demonstrators called on the Egyptian authorities to avoid the use of force against protesters.

In the Tunisian capital of Tunis, a similar rally was held in front of the Egyptian Embassy to support the uprising in Egypt.

"We are here to say that the Tunisian people are behind the Egyptian people. They have suffered in the way that we suffered. It's time for change," one protester said.

A demonstration was also expected in Germany to show solidarity with Egyptian protesters.

Anonymous said...

Hundreds Killed in Egypt yesterday
by informatron

But the revolution is steadfast.

Look forward to Great Changes in Geo-Political equation. For one thing, the Suez Canal will be buldozed into oblivion. All the more to stop invading nuclear fleets from passing from USA and Europe, to the Gulf, The Horn of Africa.

At last Jerusalem and Mecca free from Zionists.

Anonymous said...

College education could possibly be the largest scam in U.S. history - 30.1.11

The National Inflation Association believes that the United States has a college education bubble that is set to burst beginning in mid-2011. This bursting bubble will have effects that are even more far-reaching than the bursting of the Real Estate bubble in 2006. College education could possibly be the largest scam in U.S. history...

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