The French On Strike today. Will it spread?

The French, doing one of the things that they know best (and that I admire them for) have gone on strike. The public and private sector are in the streets to protest the economic crisis and try to convince Sarkozy to do more. See full story HERE

Also, is this Europe’s winter of discontent and how bad will the bad get?

The French are in revolt. On Thursday, teachers, television employees, postal workers, students and masses of other public-sector workers will be united in a hugely-popular strike with car workers, supermarket staff, journalists and thousands of others in the private sector.

One poll said that 75 per cent of the public supported the action, which has the backing of the large union groups and opposition socialists. It will be a big test for President Nicolas Sarkozy but, more importantly, the strike will mark the biggest protest so far in one of the world’s largest economies against the grief and distress being caused by the catastrophic global downturn.

A depression triggered in America is being played out in Europe with increasing violence, and other forms of social unrest are spreading. In Iceland, a government has fallen. Workers have marched in Zaragoza, as Spanish unemployment heads towards 20 per cent. There have been riots and bloodshed in Greece, protests in Latvia, Lithuania, Hungary and Bulgaria. The police have suppressed public discontent in Russia, and will be challenged again at large gatherings this weekend.

This is turning into Europe’s winter of discontent. Protests are widespread and gathering pace. It seems to be about national interests superceding the common cause that has united countries for decades.

Comparisons with the Thirties have tended to focus on the numbers – a lack of growth and waning consumer confidence, an increase in business failures and job losses, collapsing stock markets and currencies and panicky runs on banks. See full story HERE

Will the Economic Crisis result in the joining of The USA, Mexico, and Canada for a new Currency?

The idea of a new “currency” to bring together The USA, Mexico and Canada has been kicking around the blogspere as another “conspiracy” for years now. Well now the Mainstream press has started to cover it too. Could the crisis be the spark that puts the plan into motion. Sure seems logical. From the THE WALL STREET JOURNAL’S MARKET WATCH…

“Thomas Jefferson once said: “When you reach the end of your rope, tie a knot in it and hang on.” As the global financial system pushes on a string, investors are desperately trying to hold tight. The New World Order is upon us, full of hope, promise and a fair amount of fear. In our recent discussion regarding the direction of our country, we noted the risks of catering to conventional wisdom and the implications for the U.S. dollar. That’s a fine line to walk, as foresight often flies in the face of mainstream acceptance. In 2006, it seemed counterintuitive to forecast a “prolonged socioeconomic malaise entirely more depressing than a recession.”

For years, the notion of an “invisible hand” was conspiracy theory until we learned that the Working Group on Financial Markets was a central policy tool. See Minyanville column.
And now, as we gaze across our historically significant horizon, we must open our minds to thoughts and ideas that may seem foreign to folks conditioned by the past and stunned by the present. See full story HERE

CALIFORNIA is broke, broke, broke.

What will happen next week if 230,000 stats employees are furloughed? Will Californians have the balls that The French have and take to the streets? From The SF GATE…

Gov. Arnold Schwarzenegger will go ahead with his plan to furlough state employees beginning next week to ease the state’s cash crunch, after a judge ruled today that the governor has the legal authority to order workers to take time off without pay.

State workers’ unions challenged the governor’s plan to order as many as 230,000 employees to take two unpaid Fridays a month off work, beginning next Friday, arguing that the move amounted to a reduction in pay that should take place at the bargaining table and not by executive order.

But Sacramento Superior Court Judge Patrick Marlette said “government codes and the (labor contracts) do give the governor the power to impose temporary furloughs.”

The governor has said the move is needed to save the state $1.3 billion as legislative leaders try to come to a solution for fixing the state’s $42 billion budget gap through June 2010. See full story HERE

SONY profits down 95%. Ford loses 5.9 Billion.

And the news just gets worse and more surprising everyday. SONY has announced that its profits are down 95%…

Profits for the quarter, which ended December 31, fell from nearly 200 billion yen ($2.2 billion) in 2007 to about 10 billion yen ($110 million) in 2008.

Across the company, sales were down 25 percent, but electronics and games sales were especially hard hit. Sales of games, including the company’s popular PlayStation series, fell 32 percent over the year. Sales of electronics decreased by nearly 30 percent. See more HERE

And FORD is reporting loses of 5.9 Billion…

Ford reported a net loss of $5.9 billion, or $2.46 a share, up from a loss of $2.8 billion in the same quarter a year ago.

For the full year, Ford lost $14.6 billion, and the company has now lost nearly $30 billion over the past three years.

Excluding special items, losses were $3.3 billion, or $1.37 a share. Analysts surveyed by Thomson Reuters were forecasting a loss of $1.30 a share on this basis.

Ford’s automotive operations reported a loss in every region but South America during the fourth quarter. Worldwide vehicle sales plunged 31% from a year ago, to 1.1 million. Total sales dropped 36%, to $29.2 billion, but they did top Wall Street’s consensus estimate of $27 billion.

Separately, the company’s Ford Credit arm confirmed that it was eliminating 1,200 jobs, or about 20% of its staff, due to lower sales. In addition to suffering from weak demand for vehicles, Ford also sold its Jaguar, Land Rover and Mazda brands last year. See HERE

Starbucks profits down 69%. Boeing layoffs reach 10,000. And warnings about Capital Flows being the worst in 60 years.

Coffeeshop giant Starbucks has announced it will cut around 6,700 jobs and shut 300 stores as it reported a 69% plunge in quarterly profit.

And The world economy will shrink this year for the first time since the Second World War, warns the gloomiest forecast yet delivered by a major international institutional. See

Starbucks has struggled as hard-up consumers are forgoing expensive lattes and frappucinos as the recession bites.

It said it made a net profit of of $64.3m in the 13 weeks to December 28, down from $208.1m a year ago.

Two-thirds of the store closures will be in the US and they come on top of the 661 closures announced in 2008.
See THE BBC HERE

And BOEING is shedding another 10,000 jobs as profits are down 27%. See HEREHERE

Man Kills Wife and Kids due to losing his job and unpaid taxes

A LOS ANGELES man killed his wife and children due to his being laid off and unpaid taxes to the IRS.

“Investigators found evidence of spiraling financial woes. Lupoe owed the Internal Revenue Service at least $15,000 and a check he wrote the agency for that amount had just bounced. He also was at least one month behind on a mortgage for his home in Wilmington, near the ports of Los Angeles and Long Beach. Jobs are scarce in the area and the real-estate market is sinking. Lupoe owed about $2,500 and a late fee, Cortez said. He also owed thousands more on a home equity line of credit.

Police found the bodies of Lupoe, his wife and five children Tuesday morning. It appears the family had been killed the evening before and Lupoe shot himself the next day, Cortez said. Lupoe and his wife Ana had both recently been fired from their jobs at Kaiser Permanente Medical Center West Los Angeles. The two technicians had understated their income on an application for childcare in a bid to get cheaper rates, Cortez said.

Lupoe faxed a bitter, two-page letter to a local TV news station the morning he killed himself, saying a hospital administrator told him he “should not even have bothered to come to work” and “should have blown (his) brains out.”

See story HERE

Spanish Fraud and The Mossad.

Big arrest today in Spain…

British authorities have teamed up with Spanish police to arrest six men in connection with an alleged multi-million pound fraud on the London stock market.

The five Spaniards and one Argentinian were detained in Spain as part of a long-running Serious Fraud Office investigation in relation to a company which was formerly listed on the AIM section of the London Stock Exchange.

One of the men is alleged to be a former member of Israel’s Mossad. See more HERE

Over 50 Million NEW unemployed by the end of 2009. And thats a lowball figure.

According to a new report by International Labour Organization called “Global Employment Trends
January 2009″ there will be as many as 50 million NEW unemployed people because of the crisis. That right, 50 million NEW unemployed. See HERE

Although that figure of 50 million seems low when you consider that 40 million in China are expected to lose their jobs THIS WEEK. Yes, its possible that 40 MILLION CHINESE COULD LOSE THIER JOBS IN ONE WEEK!  Can you say “Chinese Fireworks”? See HERE

Putin knows. Everbody knows.

Putin, the fearless leaded of Russia has called the economic crisis the “Perfect Storm” at The World Economic Forum in Switzerland.

” While economists and analysts could — and should — have predicted the crisis, Putin said, instead it had “come unexpectedly, just as winter comes unexpectedly to Russia every year.”

“Just a year ago, American delegates speaking from this rostrum emphasized the U.S. economy’s fundamental stability and its cloudless prospects. Today, investment banks, the pride of Wall Street, have virtually ceased to exist,” Putin commented”.

Russian Prime Minister Vladimir Putin and Chinese Premier Wen Jiabao called Wednesday for the complete reform of the world’s financial systems during keynote speeches at the World Economic Forum in Switzerland. Make that a New World Order. See The BBC for the whole story.

But then again, maybe Putin will want to get back home as the economic crisis in Russia is threatining iys stability and there are even calls for him to step down (not that that would ever happen).

“The prime minister, who is accustomed to adulation, is facing one of the sternest challenges of his political career as an economic slow down triggers growing public discontent.The normally supportive Communist Party has called for country wide protests on Saturday, threatening to harness “a wave of popular rage”.Officials said they expected at least 600,000 people to take part in demonstrations held across dozens of cities. Among calls for improved living standards, the protests will also demand the resignation of Mr Putin and his cabinet.According to opinion polls, Mr Putin remains popular, enjoying an approval rating of 83 per cent. Even now, with the economy under strain, there is no sign of a challenger, who could usurp his place in the heart of most Russians.Yet the Kremlin is planning a hardline response with several of the demonstrations being banned outright and the law has been changed to remove the right of protest organisers to trial by jury.” See story The Telegraph HERE

Over 60,000 people lost thier jobs today. PLUS are CITI and BOA about to FAIL?

Catapillar 20,000. Sprint 8,000. Home Depot 7,000. Philips 6,000. Corus 3,500. GM 2000. Phizer 19,000. ING 7,000. And more. And this is just TODAY
Where will be later in the week? Perhaps HUNDREDS of THOUSANDS of jobs lost? Prime Minister Brown has said that the crisis that we are experiencing is only the \"the difficult birth-pangs of a new global order\" . Yeah, is that right Mr. Brown? A New Global Order?

It also looks like both CITI and Bank Of America, 2 of the USA’s biggest banks are close to failing, as several economist put out dire warnings. The bailouts ain’t going to save them And what are they in the whole with? Well, 5.8 TRILLION between them both. AND THERE IS NOTHING FROM STOPPING THIS FROM HAPPENING.

Iceland’s PM falls do to the Economic Crisis PLUS fear of increasing Violence and protest spread throughout the world

Iceland’s Prime Minister has resigned after weeks of violent protest…

“Iceland’s embattled Prime Minister Geir Haarde may have become the first political casualty of the global credit crisis, announcing his resignation yesterday, and clearing the way for elections in May. Illness was the official reason for Mr Haarde’s decision to quit, but few in the capital Reykjavik were in any doubt that his departure was linked to a week of intense and violent public protests at once prosperous Iceland’s economic implosion.

Since October’s financial earthquake Icelanders have vented their frustration, anger and despair in peaceful weekly protests. But demonstrations turned violent on Thursday, leading to 22 arrests and the worst civilian unrest since Iceland joined Nato in 1949″. See full story from The Independent UK HERE

Also China fears that riots due to worsening economic conditions increase…

“Without doubt, now we’re entering a peak period for mass incidents … In 2009, Chinese society may face even more conflicts and clashes that will test even more the governing abilities of the party and government at all levels,” said a senior Xinhua agency reporter, Huang Huo.

“The key is going to be what happens in a week or two. How many people are going to come back? And are there going to be jobs for them?” asked Geoffrey Crothall of China Labour Bulletin, a Hong Kong-based organisation defending mainland workers’ rights. “The most likely thing is that it will get heated after the new year. The government pulls out all the stops beforehand to make sure people have enough money to put in the red envelopes [traditional gifts] when they go home. It puts a false gloss on the real situation.” See story from The Guardian HERE

And finally, some video of all this HERE

Britain is Facing a 3 Day Work Week

With word this past week that according to some economist, Britain is in a depression NOT a recession, comes the news that back in back in October last year there was an almost run on the banks and complets collapse of the banking system after ‘major depositors’ attempted to withdraw their money en masse.

Then we have news this week that Britain is facing a scale back to the 3 day work week. Yes, things are so bad that
a 3 day work week would be the better option over the massive unemployment that is expected as the crisis worsens by the day.

“Tens of thousands of businesses are already planning to scale back working hours this year in an effort to stay afloat. But as the country comes to terms with the reality of a recession, it emerged that the Government is looking at compensating employees, through their firms – thereby drawing comparisons with the shutdowns of the 1970s.

While the move would safeguard jobs, it would mean that the financial crisis is on a much larger scale, further undermining confidence in the economy with the suggestion of Britain grinding to a halt” See HERE

The Theory of Ownership

Interesting article here about the Theory of ownership in relatation to the technological age upon us. What will be able to actually “own” and what will be able to “rent”? How will the laws pertaining to those two forms of use change in the near future? And how will the new world economic system that will be in place in the next few years due the collapse of the present play into all of this?

“As creations become digital they tend to become shared, ownerless goods. We can turn this around and say that in this realm of bits, property itself becomes a more social endeavor. Property may be less about title and more about usage and control. An idea can’t be owned in the way gold can; in fact an idea has little value unless it is shared or used to some extent. Its value paradoxically can increase the less it is owned privately. But if no one owns it, who gains the benefit of that increase in value? In the new regime users will often assume many of the chores that owners once had to do. And so in a way, usage becomes ownership.” See more from The Technium HERE

Britian un Brink of Depression, plus rising crime and uneployment and shipping news…

Some bad US unemployment numbers for December…
North Carolina is at 8.7%
California reached an amazing 9.3%
Georgia and Florida hit 8.1%
Oregon is checking in at 9% with Washington at 7.1%
New York jumped a full percentage point to 7%, while New York City itself reached 7.4%. When you realize that the unemployment numbers for the next few months will be much worse, and that those are “official” stats and that the real numbers are maybe twice as high,…well that spells BIG trouble.

On top of this, corporate earning figures for the last quarter are starting to be released. General Electric profits were released today and they show a loss of 46%. See
HERE

Freight rates for containers shipped from Asia to Europe have fallen to ZERO. That’s right ZERO. And for the first time since records began, underscoring the dramatic collapse in trade since the world economy buckled in October. See HERE

Britain is heading for economic depression for the first time since the 1930s, economists have warned. ” Families must brace themselves for a slump of far greater severity and longevity than the recessions of the 1980s and 1990s, they warned. They said the current crisis will be of a scale to rival the biggest peace-time crisis in modern history — the Great Depression.

The warning was delivered by economists and politicians after the Office for National Statistics revealed that the economy shrank by 1.5 per cent in the final three months of 2008 alone. ” See more HERE

And the British Government has been forced to admit that burglaries, fraud and robberies at knife point have risen steeply, in the first sign that the recession is fueling an increase in crime. See HERE

Has the Revolution started in Iceland?

What could be inspiration to angry citizens across Europe, Iceland is possibly close to seeing a revolution due to the Economic Crisis.

“While Barack Obama was being sworn in to office on Capitol Hill yesterday, the people of Iceland were starting the first revolution in the history of the republic. The word “revolution” might sound a bit of an overstatement, but given the calm temperament that usually prevails in Icelandic politics, the unfolding events represent, at the very least, a revolution in political activism.

Four months after the collapse of Iceland’s entire financial system, no one has accepted any responsibility. Our currency has lost more than half its value, rampant inflation has already eaten up most people’s savings, property values have dropped by more than a third and unemployment is reaching levels never seen before in the life of our young republic. The fault is clearly shared between the business elite and the government, which failed to regulate the newly privatised financial sector, allowing a few incompetent and egotistical business tycoons to gamble with the nation’s fortune. And yet neither the government nor the bankers – who, by the way, seem to have disappeared into the cold thin air – see anything wrong with their own behaviour.” See full story HERE

The End Of a Bad Week In The US

Its been bad week, and guess what? Next week will be even worse. And the week after that? Yes, even worse. Its freefall time, and ain’t nothing gonna stop us now. Not just in the US of course, but everywhere.

From Reuters:
“The number of U.S. workers lining up for state jobless benefits surged last week and home building slumped to a record low in December, data showed on Thursday, as the economy’s downward spiral accelerated. The worst financial crisis since the Great Depression of the 1930s is forcing companies to slash jobs, creating a vicious cycle for an economy mired in a year-long recession.” See HERE

Forbes has an update on the retail slump, and where you won’t be shopping in 2009 HERE

A nice piece at Bob Chapman’s International Forecaster, informing us that we are just in the beginning stages of economic and financial collapse…

“We are still in the earliest stages of an economic and financial collapse, which was deliberately engineered to bring about eventual total control of our economy and financial system. Except for government and the Fed, Wall Street finance has been incapacitated. The government and the Fed are left to do as they please. Our bought and paid for Congress will rubber stamp anything handed to them. Bank credit will surpass $1 trillion this year to keep the elitist banks solvent and to delay the forces of deflation and depression. Overall credit expansion will expand to $2 trillion plus as many more banks, brokerage houses, lenders, insurance companies and illuminist corporate giants are served up all the cash and credit they need to survive. Very little will ever be paid back. Once the grip of the Fed and our Treasury is complete it will be almost their sole responsibility to extend credit. The excuse will be it has to be done to save the system as they chip you and give you a debit card and set up currency and exchange controls, devalue the dollar and institute wage and price controls. We then become wards of the state. They have allowed the banks to get into such awful shape, that they will tell you that they and America have no other option but to have government and the Fed mandate what will be done to save the system.” See more HERE

And finally, Ron Paul chimes is the coming collapse of the Dollar HERE

England on the verge of Bankruptcy? And Portugal gets downgraded by the S&P

Is England about to go Bankrupt? Yes, but so are many other country’s (Ireland, Scotland , Spain for example). With not much more taxpayers money to give the thieving banks, its almost game over. From the Telegraph…

“The country stands on the precipice. We are at risk of utter humiliation, of London becoming a Reykjavik on Thames and Britain going under. Thanks to the arrogance, hubristic strutting and serial incompetence of the Government and a group of bankers, the possibility of national bankruptcy is not unrealistic.

The political impact will be seismic; anger will rage. The haunted looks on the faces of those in supporting roles, such as the Chancellor, suggest they have worked out that a tragedy is unfolding here. Gordon Brown is engaged no longer in a standard battle for re-election; instead he is fighting to avoid going down in history disgraced completely.” See full story HERE

And Jim Rogers, one of the worlds biggest investors actually recommends that people MOVE FROM ENGLAND

When asked his advice for a young person growing up in Britain, Jim Rogers, former partner of George Soros and one of the world’s most successful investors, is forthright. “Move to China; learn Chinese.” In an interview with The Independent, Mr Rogers warns that Britain will go bankrupt if the Government continues to follow its present policy of attempting to save the banks through subsidy and nationalisation.

He has sold all his sterling assets and has “no position” in sterling, but Mr Rogers reveals that he had been planning to short-sell sterling in the present financial crisis, before recent disparaging remarks about the pound’s prospects from his own lips had put paid to those plans. “I should have kept my mouth shut.” See fully story from The Independent UK HERE

And finally, Portugal joins the recently demoted Greece and Spain, having their rating knocked down by the S & P. And Ireland could be next. See HERE

Big Trouble brewing in China PLUS Sony in deep doo doo

Will China lead the world into the great Depression?

“”The Chinese economy is imploding and this raises the possibility of regime change. To prevent this, the authorities would likely devalue the yuan. A subsequent trade war could see a re-run of the Great Depression…. Do you really trust politicians to “do the right thing”?
See more from The Telegragh HERE

And Sony is getting ready to announce a 2 Billion Euro loss.
See HERE

Rebellion Over The Financial Crisis

Commentary on the rebellion including street protest and violence that has been seen in Iceland, Latvia and Bulgaria.
These are not “natural protest cultures”. And this is just the beginning, because by Spring it may spread like wildfire throughout the world.

“The LSE economist Robert Wade – addressing a protest meeting in Reykjavik’s cinema – recently warned that the world was approaching a new tipping point. Starting from March-May 2009, we can expect large-scale civil unrest, he said. “It will be caused by the rise of general awareness throughout Europe, America and Asia that hundreds of millions of people in rich and poor countries are experiencing rapidly falling consumption standards; that the crisis is getting worse not better; and that it has escaped the control of public authorities, national and international.”
See full story here from the TIMES ONLINE

The NSA spied on Journalist according to Whistleblower

Former National Security Agency analyst Russell Tice, who acted as a whistleblower for the agency’s spying on Americans has done an interview with MSNBC’s Keith Olbermann. In it, he claims that amongst the groups being spied on were journalist…

“The National Security Agency had access to all Americans’ communications — faxes, phone calls, and their computer communications,” Tice claimed. “It didn’t matter whether you were in Kansas, in the middle of the country, and you never made foreign communications at all. They monitored all communications.”

Tice further explained that “even for the NSA it’s impossible to literally collect all communications. … What was done was sort of an ability to look at the metadata … and ferret that information to determine what communications would ultimately be collected.”

According to Tice, in addition to this “low-tech, dragnet” approach, the NSA also had the ability to hone in on specific groups, and that was the aspect he himself was involved with. However, even within the NSA there was a cover story meant to prevent people like Tice from realizing what they were doing.

“In one of the operations that I was in, we looked at organizations, just supposedly so that we would not target them,” Tice told Olbermann. “What I was finding out, though, is that the collection on those organizations was 24/7 and 365 days a year — and it made no sense. … I started to investigate that. That’s about the time when they came after me to fire me.”

When Olbermann pressed him for specifics, Tice offered, “An organization that was collected on were US news organizations and reporters and journalists.”

“To what purpose?” Olbermann asked. “I mean, is there a file somewhere full of every email sent by all the reporters at the New York Times? Is there a recording somewhere of every conversation I had with my little nephew in upstate New York?” See more HERE

Another Economic Suicide

Patrick Rocca , one of the most high profile and important players in the Irish Economy had been found dead by a single gunshot wound to his head.

“His suicide, prompted by the prospect of financial ruin according to unnamed friends speaking to Irish newspapers, sent shockwaves through the beau monde of Dublin’s wealthy cocktail society, like a bell tolling the end of the heady days of Ireland’s rampant consumerism and ostentatious exuberance. ” See more HERE

Another War. Another Defeat.

A good commentary on Israel and Gaza by John J. Mearsheimer, a professor of political science at the University of Chicago and coauthor of The Israel Lobby and U.S. Foreign Policy.

“Israelis and their American supporters claim that Israel learned its lessons well from the disastrous 2006 Lebanon war and has devised a winning strategy for the present war against Hamas. Of course, when a ceasefire comes, Israel will declare victory. Don’t believe it. Israel has foolishly started another war it cannot win.

The campaign in Gaza is said to have two objectives: 1) to put an end to the rockets and mortars that Palestinians have been firing into southern Israel since it withdrew from Gaza in August 2005; 2) to restore Israel’s deterrent, which was said to be diminished by the Lebanon fiasco, by Israel’s withdrawal from Gaza, and by its inability to halt Iran’s nuclear program.

But these are not the real goals of Operation Cast Lead. The actual purpose is connected to Israel’s long-term vision of how it intends to live with millions of Palestinians in its midst. It is part of a broader strategic goal: the creation of a “Greater Israel.” Specifically, Israel’s leaders remain determined to control all of what used to be known as Mandate Palestine, which includes Gaza and the West Bank. The Palestinians would have limited autonomy in a handful of disconnected and economically crippled enclaves, one of which is Gaza. Israel would control the borders around them, movement between them, the air above and the water below them.

The key to achieving this is to inflict massive pain on the Palestinians so that they come to accept the fact that they are a defeated people and that Israel will be largely responsible for controlling their future. This strategy, which was first articulated by Ze’ev Jabotinsky in the 1920s and has heavily influenced Israeli policy since 1948, is commonly referred to as the “Iron Wall.”

What has been happening in Gaza is fully consistent with this strategy. ” See full article HERE

Big Problems in Spain, Australia and well, just about everywhere….

SPAIN: On Monday Spain lost its triple A sovereign credit rating from Standard & Poor’s when the rating agency downgraded the country’s long-term debt because of its deteriorating public finances. S&P lowered its rating to double A plus from triple A, arguing that the global economic crisis had highlighted “structural weaknesses” in the Spanish economy. Also Unemployment, buy some estimates was forecast to rise to 20 or perhaps 25%. And Thousands of people demonstrated in Zaragoza on Sunday against unemployment. Some 35,000 took part in the city which has been hit by the crisis in companies such as General Motors. The slogan of the marchers was ‘Facing the Crisis, Employment and Social Protection’.

AUSTRALIA: Australia’s budget is “buggered”, the nation’s economic boom will “unwind scarily fast” and the outlook for the next year is “ugly”, a leading economic forecaster has warned. See story HERE

Also, major problems in Brazil, Germany and Canada. SeeHERE

I think this week will be one to remember….

The Bank Of Scotland lost 69% today and almost turns the UK into Iceland

Yes its going to be a BAD week. Today RBS went down 69%.
The bank failed again, and the taxpayers will have to pay for it AGAIN. And do you know what will happen next? RBS will fail again, just like many other banks, and you will have to bail them out AGAIN. And in 5 years, if you are lucky enough to HAVE a job, you will be working 60 or 70 hours a week, while having a MUCH lower standard of living.

More on the RBS near collapse HERE

The Anthrax Smokecreen

Anyone who has followed the “Anthrax” attacks closely, and looked beyond what the mainstream media had to report, know that, like the September 11th attacks, there are many “inconsistencies” with the official story. Bruce Ivins was stalked by The F.B.I., smeared by the press, and then committed suicide (or perhaps even “suicided” like Dr. Kelly).
And most of the evidence when looked at closely, makes it seem certain that Bruce Ivins was surely scapegoated. The Seattle Times has new article out looking at the case. For those looking for more information both The New Scientist and Glen Greenwald at Salon.com had informative pieces on the subject, but to get a good idea who the “real anthrax killer” may be look here….

“Things were turning up missing at AMRIID, and Lt. Col. Michael Langford was baffled. He suspected that someone was tampering with records, perhaps in order to conduct unauthorized research. He told a lab technician to “make a list of everything that was missing,” and “it turned out that there was quite a bit of stuff that was unaccounted for,” 27 sets of specimens, including anthrax, hanta virus, simian AIDS virus “and two that were labeled ‘unknown’ – an Army euphemism for classified research whose subject was secret,” as this chilling Hartford Courant story by Jack Dolan and Dave Altimari puts it. One set of specimens has since been found: the rest are still missing….

An investigation was launched that exposed the shockingly lax security measures at the lab, and raised the possibility that some specimens may never have been entered in lab records. Also uncovered was a tape from a surveillance camera showing the entry of an unauthorized person into the lab, at 8:40, on January 23, 1992, let in by Dr. Marian Rippy, lab pathologist. The night visitor was Lt. Col. Philip Zack, a former employee who had left as a result of a dispute with the lab over his alleged harassment of Dr. Assaad. The Courant reports:

“Zack left Fort Detrick in December 1991, after a controversy over allegations of unprofessional behavior by Zack, Rippy, [lab technician Charles] Brown and others who worked in the pathology division. They had formed a clique that was accused of harassing the Egyptian-born Assaad, who later sued the Army, claiming discrimination.”

According to Assaad, in the week before Easter 1991, he found a poem in his mailbox, described in another Courant story:

“The poem, which became a court exhibit, has 235 lines, many of them lewd, mocking Assaad. The poem also refers to another creation of the scientists who wrote it — a rubber camel outfitted with sexually explicit appendages. The poem reads: ‘In (Assaad’s) honor we created this beast; it represents life lower than yeast.’ The camel, it notes, each week will be given ‘to who did the least.’ The poem also doubles as an ode to each of the participants who adorned the camel, who number at least six and referred to themselves as ‘the camel club.’ Two — Dr. Philip Zack and Dr. Marian Rippy — voluntarily left Fort Detrick soon after Assaad brought the poem to the attention of supervisors.”

Read the rest of the article by the wonderful Justin Raimondo at Antiwar.com

In California the Shit Hits The Fan

Lovely California. I proudly called it home for many years, and still occasionally miss both its calm and craziness. If I lived in California now, and I was expecting a tax refund check, student grant or welfare check I would maybe be waiting for awhile because the controller has suspended all payments because it has NO money.

“Reporting from Sacramento — The state will suspend tax refunds, welfare checks, student grants and other payments owed to Californians starting Feb. 1, Controller John Chiang announced Friday.

Chiang said he had no choice but to stop making some $3.7 billion in payments in the absence of action by the governor and lawmakers to close the state’s nearly $42-billion budget deficit. More than half of those payments are tax refunds.” See story from The LA TImes HERE

Economy In Free Fall

This coming week could be a very very bleak one. We will begin to see more retail giants bite the dust big time, and more banks fall deeper into the hole. Last week we saw the fall of Circut City in the US as well as Bank of America needing another $20bn bailout while Citigroup was forced to unveil a break-up. And Barclays Bank shares plummeted 25 per cent. …

“Some analysts in the US now believe that Citi and possibly Bank of America may have to be nationalised to draw a line under their woes. Ireland announced the nationalisation of Anglo Irish Bank late on Thursday to stop a run on its deposits and shares.” See story
HERE

And according to Ambrose Evans-Pritchard at The Telegraph, over half of Europe has just entered a DEPRESSION not a Recession as most believe.

“Events are moving fast in Europe. The worst riots since the fall of Communism have swept the Baltics and the south Balkans. An incipient crisis is taking shape in the Club Med bond markets. S&P has cut Greek debt to near junk. Spanish, Portuguese, and Irish bonds are on negative watch.

Dublin has nationalised Anglo Irish Bank with its half-built folly on North Wall Quay and €73bn (£65bn) of liabilities, moving a step nearer the line where markets probe the solvency of the Irish state.

A great ring of EU states stretching from Eastern Europe down across Mare Nostrum to the Celtic fringe are either in a 1930s depression already or soon will be. Greece’s social fabric is unravelling before the pain begins, which bodes ill.

Each is a victim of ill-judged economic policies foisted upon them by elites in thrall to Europe’s monetary project – either in EMU or preparing to join – and each is trapped. “
See story HERE

And yes crime is and will continue to be on the increase. I see it happening where I live in Spain and in parts of Britain there are at least admitting to so …

“Robbery and burglary are on the rise across the country, almost doubling in some areas, according to figures that provide the first evidence that the economic downturn is fuelling crime.

Figures obtained by The Independent from police forces across England and Wales show that cases of burglary or robbery rose in 31 of the 43 forces in the final four months of the year in comparison with the same period in 2007. In those 31 areas an extra 5,572 crimes of burglary and robbery were committed in the final months of 2008, compared with the previous year. ” See The Independent UK story HERE

Suicide, Death and The Economic Crisis.

Its seems that a Florida funds manager who is responsible for millions of dollars of investors money, has gone missing after a worrisome call to his Family. See HERE This on the heals of the man who tried to fake his death last week, and the two other high profile suicides linked to the economy in the last few weeks. The Huff Post has a round up of the lasted economic related suicides and killings HERE

Man gets 15 years for stealing 100 dollars. And Madoff?

A man who said he robbed a downtown Shreveport bank because he was out of a job and hungry has been sentenced to 15 years in prison for first-degree robbery.

Roy Brown, 54, of Audrey Lane, pleaded guilty in Caddo District Court to robbing the Capital One bank in December 2007.

Brown admitted walking up to a teller with one of his hands under his jacket and telling her it was a “stickup.” The teller handed the man three stacks of bills and he took a single $100 bill, told her he was homeless and left, police said.

Brown surrendered to police the next day, telling them his mother didn’t raise him that way. See full story HERE

Then there is Bernard Madoff, a white man who stole over 50 BILLION dollars is on “house arrest’ in his mansion. See HERE

Lets gets this straight. A black man steals 100 dollars, and then returns it the next day. And he gets 15 years in prison.
A white man steals over 50 BILLION, and while awaiting his trial, has to do “house arrest”. As Stephen A. Weiss, a lawyer for several dozen of Madoff investors said ” “There is a thirst for blood that transcends just those who have been victimized. There is a feeling … that folks like Bernard Madoff get a different brand of justice than the guy in the street,”. And yes, the guy on street definitely gets treated a little different than the rich thief. Much much differently.

Finally, someone kind of admiting that the “War On Terror” is a mistake. Kind of…

It seems The phrase “war on terror” is misleading and may have done more harm than good according to British Foreign Secretary David Miliband. Maybe the actual “War On Terror” was also a bad idea. Ditto the “War on Drugs” . Shit, well At least its a start. See HERE

One Mans Terror Is Another Man’s….

Besides all of the destruction that the powers that be are doing to Gaza and The Palestinians, they continue do do destruction to themselves as well. Todays bombing of The UN center is case in point. They may be perfectly happy killing children, but are unable to understand that there is this thing called the internet nowadays.

First off, if you have not seen this video please do. Its a great one to send to to anyone who has sent you this video of the Hama’s childrens show where they teach kids to hate Jews. See here HERE

From Randall Kuhn at The Washington Times comes an interesting piece…

“Think about what would happen if San Diego expelled most of its Hispanic, African American, Asian American, and Native American population, about 48 percent of the total, and forcibly relocated them to Tijuana? Not just immigrants, but even those who have lived in this country for many generations. Not just the unemployed or the criminals or the America haters, but the school teachers, the small business owners, the soldiers, even the baseball players.”

“What if we established government and faith-based agencies to help move white people into their former homes? And what if we razed hundreds of their homes in rural areas and, with the aid of charitable donations from people in the United States and abroad, planted forests on their former towns, creating nature preserves for whites to enjoy? Sounds pretty awful, huh? I may be called anti-Semitic for speaking this truth. Well, I’m Jewish and the scenario above is what many prominent Israeli scholars say happened when Israel expelled Palestinians from southern Israel and forced them into Gaza. But this analogy is just getting started.” See http://www.washingtontimes.com/news/2009/jan/14/when-israel-expelled-palestinians/

The China Syndrome

Or maybe its the China problem. Where I live in Spain, the Chinese have been buying up every small business, bar or shop that they can as well as opening new small retail shops and clothing stores where there is retail space available. They are everywhere. Every barrio is beginning to look a little more like your typical “China Town” everyday. Which wouldn’t be a bad thing necessarily if it were just Chinese familias moving here to start a new life and open a business to support themselves.  I would have no problem. But this is NOT what is happening.  Its nothing more than a Chinese Government sponsored Mafia, that are involved in money laundering, human trafficking and much worse. And then there is the destruction, due to “slave labor prices” of local businesses and culture. Also the crap you buy breaks after 2 months.

Don’t shop there and support local “mom and pop” stores (of any nationality) instead.

Anyhow, two related stories. First one is on how the Chinese government is trying to fight the Mafia, which is increasing in power due the economic crisis. See HERE

And the second on China’s worsening economic problems, that the authorities are running scarred, and the social dissent that is starting to rear its head. See HERE

On Israel: Spin Vs Dead Childrens Bodies

That Israel cannot win this “war” in Gaza should really not come to a surprise to anyone. A look at the history books shows that whether it comes to Israeli wars, or any other wars, that the tactics that they have chosen are born to fail. And fail they shall. A make this worse for everyone they shall as well. Much much worse.

From Michell Goldfberg at The Guardian: Israel’s free ride ends…As Israel pulverises Gaza, questions and doubts about Israeli policy are becoming more prominent in the American media. See HERE

I guess Israel can’t use the old “The Palastinians use people as human shields” excuse anymore when THEY do it too. Actually, they have in the past and they continue do so now ( Give that excuse and use human shields) From The Turkish Weekly” Amnesty International said on Wednesday that both Israeli soldiers and Palestinian fighters were endangering the lives of Palestinian civilians–including by using them as human shields and by battling in densely populated residential areas’ See more HERE

And from The UPI : So far, Israel’s assault on the Gaza Strip has produced no surprises. On the physical level of war, the Israel Defense Forces are triumphing. The Palestinians are suffering about 100 people dead for every dead Israeli. To a Second Generation War military, which is what Israel’s formerly Third Generation War army has become, that is the main measure of victory.

On the moral level, the picture is reversed. Hamas, the Islamic Resistance Movement, is almost assured of victory. As Israeli military historian Martin van Creveld has observed, all it has to do to claim victory is survive, which it will. That claim will not be just propaganda: For Hamas to survive everything a modern state military can throw at it is a legitimate victory. In fact, it not only will survive but also will be strengthened by a worldwide flood of sympathy, which will translate in part into new recruits and more money.

In the end, if Israel wants to stop Hamas’ rockets, it will be able to do so only by making a deal with Hamas. Since that was equally true before the war, the question of why it was fought will soon present itself. The real reason is a tad sordid: The current Israeli government is trying to split the “get tough” vote to prevent the Likud Party from winning the next election. See more HERE

Is The “Collapse” of both Mexico or Pakistan Possible?

A report by the U.S. Joint Forces Command on worldwide security threats claims that Mexico and Pakistan are both possible contenders for a total collapse. From the El Paso Times “EL PASO – Mexico is one of two countries that “bear consideration for a rapid and sudden collapse,” according to a report by the U.S. Joint Forces Command on worldwide security threats.

The command’s “Joint Operating Environment (JOE 2008)” report, which contains projections of global threats and potential next wars, puts Pakistan on the same level as Mexico. “In terms of worse-case scenarios for the Joint Force and indeed the world, two large and important states bear consideration for a rapid and sudden collapse: Pakistan and Mexico. ” See full story HERE

Latest Ecomomic News Recap

And it all shall fall apart
Another Crap day for the Dow….from CNN “NEW YORK (CNNMoney.com) — Stocks slumped Wednesday afternoon as a bleak retail sales report and more dour news from the banking sector amplified fears of a prolonged recession. After the close, Apple (AAPL, Fortune 500) CEO Steve Jobs said he’s taking a medical leave through the end of the second quarter because his health-related issues are “more complex” than he thought. Shares tumbled 10% in after-hours trading after having been halted for the first hour of the extended session. The Dow Jones industrial average (INDU) lost 250 points, or 2.9%, ending at its lowest point since Dec. 1. The Dow has now tumbled for six sessions in a row. See more HERE

Will the S & P strip Spain of its AAA rating? They just did it to Greece. Is Spain next? The Telegraph UK reports “Spanish officials are irked that S&P has placed Spain’s debt on “CreditWatch Negative”, a notch lower than the “outlook” alert issued on Irish bonds last week. It is the first time that a AAA country has suffered such a harsh verdict since the start of the global financial crisis. Such a move typically precedes a downgrade within weeks but the finance ministry insisted last night this would not be allowed to happen. “There’s not going to be a rating downgrade because we are taking measures to overcome the crisis,” it said. See full story HERE

Shipping cost hit ZERO….from The Telegragh “Freight rates for containers shipped from Asia to Europe have fallen to zero for the first time since records began, underscoring the dramatic collapse in trade since the world economy buckled in October.” See HERE

Protest and Rioting in Latvia

From The BBC
“Hundreds of demonstrators have clashed with riot police in Latvia’s capital, Riga, after an anti-government protest.
Police used mace and truncheons to disperse rioters who smashed shop windows and overturned a police van after failing to storm parliament. The violence followed a peaceful rally in which some 10,000 people accused the government of economic mismanagement and demanded new elections. Latvia’s economy is expected to contract by at least 5% this year. Until last year, it was one of the fastest growing economies in Europe. See more HERE

Israel Shoots Itself In The Foot Again

Israeli PM Olmert Claims He Made US Change UN Gaza Ceasefire Vote. It seems he called Bush at the last minute and demanded that he NOT vote for the UN Security Council Cease Fire Resolution. Olmert said “Olmert: “It transpired all of a sudden that a vote would be held in 10 minutes’ time. I tried to find President Bush, and I was told he was attending an event in Philadelphia. I know that if somebody tried to find me on the phone right now, it would have to be something unusual and extraordinary for them to say: Leave it all and go to some room to talk to me. In this case, I said: I don’t care, I have to talk to him right now. He was taken off the podium and brought to a side room.

I spoke with him; I told him: You can’t vote for this proposal. He said: Listen, I don’t know, I didn’t see, don’t know what it says. I told him: I know, and you can’t vote for it! He then instructed the secretary of state, and she did not vote for it.” See The NY Times HERE and The LA Times HERE

Now I don’t know if Olmert has found a soft spot in his heart for the “conspiracy theorist” out there who think that Israel controls The USA, or that if he is just some kind of crazy maniacal egotistical idiot, or if just maybe finds some sick pleasure in making mistake after mistake after mistake.

Maybe its all of the three?

Israel Is Losing This War

A must read article in THE PROGRESSIVE by Uri Avnery, which preety much sums up my opinion that Isreal has already lost the War in Gaza.

“The trouble is that propaganda is most convincing for the propagandist himself. And after you convince yourself that a lie is the truth and falsification reality, you can no longer make rational decisions.

An example of this process surrounds the most shocking atrocity of this war so far: the shelling of the UN Fakhura school in Jabaliya refugee camp.

Immediately after the incident became known throughout the world, the army “revealed” that Hamas fighters had been firing mortars from near the school entrance. As proof they released an aerial photo which indeed showed the school and the mortar. But within a short time the official army liar had to admit that the photo was more than a year old. In brief: a falsification.

Later the official liar claimed that “our soldiers were shot at from inside the school”. Barely a day passed before the army had to admit to UN personnel that that was a lie, too. Nobody had shot from inside the school, no Hamas fighters were inside the school, which was full of terrified refugees.

But the admission made hardly any difference anymore. By that time, the Israeli public was completely convinced that “they shot from inside the school”, and TV announcers stated this as a simple fact.

So it went with the other atrocities. Every baby metamorphosed, in the act of dying, into a Hamas terrorist. Every bombed mosque instantly became a Hamas base, every apartment building an arms cache, every school a terror command post, every civilian government building a “symbol of Hamas rule”. Thus the Israeli army retained its purity as the “most moral army in the world”.

read the article

THE TRUTH is that the atrocities are a direct result of the war plan. This reflects the personality of Ehud Barak – a man whose way of thinking and actions are clear evidence of what is called “moral insanity”, a sociopathic disorder. HERE

Chronic Illnesses affecting Americans on the rise

Maybe this is why “they” promote the eating of “crap” food, pump fluoride in the water and the like. Because you are worth more to “them” sick than you are healthy? See HERE

A US businessman fakes his own death PLUS sales of flesh do to ecomomic condtions

More signs of “when people go bad” as an US businessman tries to fake his own death by faking his own death in a plane crash in a Florida swamp. See HERE See an update on this story  HERE

Then there is the story that you may have heard about, where a 22 year old virgin is selling her virginity via an auction which has just hit 3.7 million. See HERE

And finally truly disturbing news, that a California man traded his 14 year old daughter for money, beer and meat.
See HERE

Obama’s smoke and mirrors show

Now I must admit, even I for a moment or two, I got a little bit excited about Obama. I thoght he seemed like an OK guy. And I even dug his priest a little bit. And with 8 years of BUSH, and the threat of a McSame/Palin ticket winning/stealing the election, I guess Obama was like a few hits of LSD. For me the hallucinations didn’t last too long though. And there it was. His meetings with AIPAC and The Bilderbergs. His cabinet picks. Hillary.His economic plan. Well some on the left are starting to come down from the high too, so now BANG! Time to close Guantanamo Bay! Next there will be the legalization of gay marriage. Marijuana. Anything to keep the blinders on the left for just a little bit longer. See HERE

Israel shoots self in foot

Israel, not happy with trying to convince the world that it is a democracy, has just decided not to allow two Israeli Arab political partys to run in next months elections. I mean really, they ought to put aside some of the money that they get from the USA to buy weapons for “self defense” and get a new public relations team. And soon. See the BBC article HERE

World Protest against Isreals actions in Gaza

Protest, and in some cases civil unrest have erupted in anger toward Israels actions in Gaza. From cities in The United States, London, Spain, France and well basically most cities around the world. Some highlights HERE

Another Police shooting of a Black Man in the USA

This time police in Texas shot an unarmed black man

From TheChron.com” “Robbie Tolan will likely live the rest of his life with a bullet lodged in his liver. It’s a painful reminder of his encounter last Wednesday with a white Bellaire police officer, who fired at least three shots at the unarmed 23-year-old black man in his own driveway.

Bellaire police and city officials have said Sgt. Jeff Cotton mistakenly thought Tolan’s Nissan Xterra had been stolen, but Tolan’s relatives say he was a victim of racial profiling and did nothing to justify being shot as his parents watched outside their home.” More fuel for the fire if the economic crisis worsens and if there happens to a “terror event”? See HERE

The Economy: New Interview with Economist Peter Schiff PLUS economics expert claims that The USA is in a depression and NOT a recession

Renown economist Peter Schiff, one of the few who predicted the economic crisis that we are in the middle of, explains what we have in store this year. The collapse of the dollar and bread lines! See VIDEO HERE

And Professor Peter Morici, a former chief economist at the U.S. International Trade Commission and current University of Maryland Economics Professor says that The USA is in a DEPRESSION and NOT a Recession. See HERE

Police killings in the US heighten racial tensions

Two recent shootings have highlighted the fragility of tensions between police and those that they are sworn to protect. With the economic problems increasing, are things at near boiling point? If things get worse, or if there is some kind of “event” which happens, will that be enough bring what is happening in Greece to the US?

One shooting happened in Oakland and the other in New Orleans

The War in Gaza: Naomi Klien, The Wall Street Journal on more…

Some good stuff on the I/P conflict.

First, Naomi Klein calls for a Boycott of Israel HERE

Very strong stuff as The Wall Street Journal comes against Israels actions and believes that they are committing war crimes…

“Israel’s current assault on the Gaza Strip cannot be justified by self-defense. Rather, it involves serious violations of international law, including war crimes. Senior Israeli political and military leaders may bear personal liability for their offenses, and they could be prosecuted by an international tribunal, or by nations practicing universal jurisdiction over grave international crimes. Hamas fighters have also violated the laws of warfare, but their misdeeds do not justify Israel’s acts.” See HERE</a

Glen Greenwald at Salon.com has a nice take on the American governments approval of Israels war in Gaza
“The Israelis have deliberately made it impossible to know the full extent of the carnage and humanitarian disasters because they continue to prevent journalists from entering Gaza even in the face of a now week-old Israeli Supreme Court order compelling them to do so. According to Palestinian sources, there are now 700 dead Palestinians — at least 200 of them children — and well over 1,000 wounded. Those numbers are not seriously doubted by anyone. By comparison, a total of 10 Israelis have died — 10 — almost all of them by “friendly fire.” The unusually worded Red Cross condemnation of Israel was prompted by its discovery, after finally being allowed into Gaza, of starving Palestinian children laying next to corpses, with ambulances blocked for days by the IDF. Even with the relative “restraint” Israel is excercising (the damage it could cause is obviously much greater), this is not so much of a war as it is a completely one-sided massacre.” See HERE

And apparently Israel quietly rejected a cease-fire offer from Hamas just this past December. See HERE

Obama Inauguration raises possibility of terrorist attack

With the Obama Inauguration coming very soon, the risk of some kind of “disaster” occurring seems to be very high. Whether an actual terrorist attack or perhaps a good old fashioned “False-flag” ,with the economic crisis, trouble in the middle east, and the first black president, it could be a prime opportunity for something to happen. The Obama-Bush teams are taking this very seriously of course..

The outgoing White House administration will next week hold a joint “disaster scenario” exercise with top members of the incoming team of president-elect Barack Obama, US officials said Friday. “I’m not going to go into the details of it, but it is a disaster scenario where the government would be very much tested,” White House spokesman Scott Stanzel said. See

“It is an exercise scenario, a hypothetical scenario that is designed to test and tax the capabilities of the federal government,” he added. HERE

And the President-elect’s train trip poses miles of security issues. See HERE

Israeli Terror Hackers. PLUS its not legal to boycot Israel in America

Apparently not satisfied with the death toll on the ground in Gaza, a group of Israeli pro-war hackers want to use YOUR computer to attack those who might be critical of the war in Gaza. Unethical and Illegal in most countries and surely no surprise at all from the nation that brought us the Mossad. According to Wired’s Danger Room..

A group of Israeli students and would-be cyberwarriors have developed a program that makes it easy for just about anyone to start pounding on pro-Hamas websites. But using this “Patriot” software, to join in the online fight, means handing over control of your computer to the Israeli hacker group.

“While you’re running their program, they can do whatever they want with your computer,” Mike La Pilla, manager of malicious code operations at Verisign iDefense, the electronic security firm.

The online collective “Help Israel Win” formed in late December, as the current conflict in Gaza erupted. “We couldn’t join the real combat, so we decided to fight Hamas in the cyber arena,” “Liri,” one the group’s organizers, told Danger Room. See HERE

And did you know that it was ILLEGAL to boycott Israel in the USA? See the official notice from the US Government HERE

<script type=”text/javascript” src=”http://cdn.widgetserver.com/syndication/subscriber/InsertWidget.js”></script><script>if (WIDGETBOX) WIDGETBOX.renderWidget(‘42d87bfa-562c-4c59-a1eb-b1f202f09388′);</script><noscript>Get the <a href=”http://www.widgetbox.com/widget/neocounter1″>NeoCounter</a> widget and many other <a href=”http://www.widgetbox.com/”>great free widgets</a> at <a href=”http://www.widgetbox.com”>Widgetbox</a>!</noscript>

Biggest rise in US Uneployment in 59 years AND Bank of England cuts interest rates to lowest in more than 300 years

According to The TimesOnLine
Wall Street is expecting the biggest rise in America’s unemployment for almost 60 years when Washington publishes official data tomorrow, indicating that the world’s biggest economy is plunging into a deep and protracted recession. See HERE

And according to The Telegraph UK
The Bank of England has cut interest rates to the lowest level in its 315-year history as it desperately attempts to prevent the UK recession deepening into a slump. See http://www.telegraph.co.uk/finance/financetopics/recession/4175063/Bank-of-England-cuts-interest-rates-to-lowest-in-more-than-300-years.html

More Blood in Gaza

News Round-up regarding The I/P situation.
Both Israel and the west will pay a price for Gaza’s bloodbath and whether the current ceasefire talks succeed or fail, Hamas has already been strengthened by the US-backed assault. See
HERE

And Robert Fisk has another great piece
“So once again, Israel has opened the gates of hell to the Palestinians. Forty civilian refugees dead in a United Nations school, three more in another. Not bad for a night’s work in Gaza by the army that believes in “purity of arms”. But why should we be surprised?” See HERE

And proof that Israel is using white phosphorus?
“Photographic evidence has emerged that proves that Israel has been using controversial white phosphorus shells during its offensive in Gaza, despite official denials by the Israel Defence Forces.

There is also evidence that the rounds have injured Palestinian civilians, causing severe burns. The use of white phosphorus against civilians is prohibited under international law.” See HERE

“Mom, Why Did the Rabbi Lie?”

Over at CounterPunch JENNIFER LOEWENSTEIN had an interesting take llast week on the I/P crisis called If Hamas did not Exist
Also Jewish Women Occupy Israeli Consulate in Toronto Canada. See HERE And over at DaillyKos a nice diary called \"Mom, Why Did The Rabbi Lie?\"

US bailout cost more than ALL WARS combined

The total value of the bailouts undertaken by the federal government in 2008 now exceeds the combined cost of every major war the United States has ever engaged in, according to a comparison of war costs calculated by the Congressional Research Service (CRS) and the value of the bailouts as calculated by Bloomberg News or Bianco Research. See HERE Plus Many details of Obama’s rescue plan remain uncertain. But it’s likely to cost at least $700 billion – and that would push Uncle Sam’s bailouts near $8 trillion. See HERE

Has Israel become its own worst enemy?

Is Israel its own worst enemy?  With well over 200 children dead so far and images of the dead all over television, newspapers and the internet it might be the case.  The Red Cross have called it a ‘Full-blown’ humanitarian crisis and most governments around the world (except for the USA) are calling for an immediate cease-fire.  Maybe, just maybe Israel has gone too far this time.

Avi Shlaim, a Jewish Professor at Oxford weighs in with what is maybe the best piece so far on this tragic crisis. See here How Israel brought Gaza to the brink of humanitarian catastrophe Oxford professor of international relations Avi Shlaim served in the Israeli army and has never questioned the state\’s legitimacy. But its merciless assault on Gaza has led him to devastating conclusions

Economic News Roundup: Layoffs, Corruption and Higher Prices

First off, One of India’s biggest-ever corporate scandals took a sensational new turn today when the chairman of Satyam, the IT services giant, admitted he had orchestrated a $1billion (£669 million) fraud, and resigned. See HERE . And Russia has cut off all Europe’s gas supplies, says The Ukraine. See HERE . And a sign of things to come everywhere? British Car insurance premiums to rise by 20%. See HERE And Aluminium maker Alcoa announces 15,000 job losses and cuts in output. See HERE

Another Economic Suicide: US Real Estate Maverick Kills self

Are we seeing a trend here? Two days ago it was a German Billionaire who killed himself, and today its a US real estate baron who has committed suicide in Chicago. Executive Steven L. Good was found dead of an apparently self-inflicted gunshot wound Monday in his Jaguar in a forest preserve outside Chicago, said the Kane County Sheriff’s Department. See HERE

Do you have any money you can lend the PORN industry?

No, this story is NOT from The Onion. Both Hustler publisher Larry Flynt and Girls Gone Wild CEO Joe Francis are asking the US Congress for a 5 Billion dollar bail out. Flynt said the issue is a nation in need. “People are too depressed to be sexually active,” Flynt said in the statement. “This is very unhealthy as a nation. Americans can do without cars and such but they cannot do without sex.” See HERE

Dear Israel, its not a question of WHY, its a question of HOW….

Day 10 of the War in Gaza, with more murder and death, and pictures of dead childrens bodies. I really don’t know what Israel excepts to get out of this. Yes yes, we know…Hamas hates you, assaults you and teaches its children to hate you. In fact they don’t believe that your country should even exist. And some of them want to kill you.  Hamas are Terrorist.  But that does not give you the right to do what you are doing. And unfortunately killing innocent children is not the kind of thing that is going to make ANYBODY like you very much. No matter how much you wish they didn’t exist, there are photos and videos of dead children that have been murdered EVERYWHERE on the internet. We understand that you have the right to defend yourself.  Everyone man, woman and child does. But what you are doing is NOT self-defense. Its is murder. Nothing but pure murder.

Some interesting stuff about the I/P crisis. First off, over at DailyKos Jews for a Permanent Diaspora which is a nice post by blogger there. Also at DailyKos Israel\’s attack on Gaza: Is it morally justified? . And finally What if Israel Was the Victim? . All three are rather good, so check them out.

Another Economic Suicide as German Billionaire kills himself

One of Germany’s and The Worlds richest men, Adolf Merckle killed himself today due to the economic crisis. “The financial troubles of his companies, induced by the international financial crisis and the uncertainty and powerlessness to act independently which the financial problems brought about, broke the passionate family business man, and he took his own life,” his family wrote in the news release.

Its starting to feel a little bit like 1929 now ain’t it? GO HERE

Women turn to brothel industry in tough economy

“There so many girls wanting to go to work now because of the economy,” said Hof, who owns The Bunny Ranch. “There’s lay-offs in every sector of the economy. The auto workers, the big insurance companies, Wall Street… we get a lot of people from New York City wanting to come to work.”GO HERE

Russia cuts Gas and Truckers in India go on strike

Truckers in India (6 million of them) have gone on strike and there is fear of food shortages HERE . And the crisis between Russia and the Ukraine are escalating as Russia cuts of gas supplies to Europe HERE .

We Arm the World

Does the US lead the world in weapons exporting? Well yes.

A $7 billion missile-defense system for the United Arab Emirates. An estimated $15 billion potential sale of Lockheed Martin’s brand-new fighter plane to Israel. Billions of dollars in weaponry for Taiwan and Turkey. These and other recent deals helped make the United States the world’s leading arms-exporting nation. In 2007, U.S. foreign military sales agreements totaled more than $32 billion — nearly triple the amount during President Bush’s first full year in office.

From a nice article from In These Times HERE

Krugman: Fed Can’t Save Us from Great Depression II

Krugman: “If we don’t act swiftly and boldly,” declared President-elect Barack Obama in his latest weekly address, “we could see a much deeper economic downturn that could lead to double-digit unemployment.” If you ask me, he was understating the case.

The fact is that recent economic numbers have been terrifying, not just in the United States but around the world. Manufacturing, in particular, is plunging everywhere. Banks aren’t lending; businesses and consumers aren’t spending. Let’s not mince words: This looks an awful lot like the beginning of a second Great Depression. See more HERE

Willem Buiter Warns of Massive Dollar Collapse

Americans must prepare themselves for a massive collapse in the dollar as investors around the world dump their US assets, a former Bank of England policymaker has warned. See HERE

If anyone wonders why OBAMA has been quiet regarding GAZA

Then you should look no further than when Obama addressed The American Israel Public Affairs Committee last year….

“I want you to know that today I’ll be speaking from my heart, and as a true friend of Israel. And I know that when I visit with AIPAC, I am among friends. Good friends. Friends who share my strong commitment to make sure that the bond between the United States and Israel is unbreakable today, tomorrow and forever”.

Now it all makes sense doesn’t it? . See more HERE

The FBI wants you your money went to IRAQ

Even though the economy is crashing, the FBI are hiring HERE and I wonder why? And then there is the United States opening its new $700 million embassy in Iraq this past Monday, inaugurating the largest — and most expensive — embassy ever built. According this article “the 104-acre compound, bigger than the Vatican and about the size of 80 football fields, boasts 21 buildings, a commissary, cinema, retail and shopping areas, restaurants, schools, a fire station, power and water treatment plants, as well as telecommunications and wastewater treatment facilities. The compound is six times larger than the United Nations compound in New York, and two-thirds the size of the National Mall in Washington. ” See HERE

Coca Cola Kills and China steals

We knew it was bad for you but Sweet Jesus. Fizzy drinks sold by Coca-Cola in Britain have been found to contain pesticides at up to 300 TIMES the level allowed in tap or bottled water.  See HERE .Then there is the “Fake Brands Mall’ that is set to open in China. Pizza Huh? You just GOTTA see the photos  HERE

Gaza War Update

Nothing but Tanks, rockets, death and terror: a civilian catastrophe unfolding. Incessant bombardment, no electricity, no water, and the hospitals full to overflowing…see how Gaza has been torn apart HERE And Israel seems to be using both cluster bombs and phosphorus shells (why don’t YOU tell me what you think of that) , see HERE and HERE

Economic Update

A few stories making the rounds today. First off nine European countries are feeling the pinch due to the Russia/Ukraine gas crisis HERE while more predictions of bank failures and spreading social unrest HERE and with all these trillions how can we hold the meaning of money HERE

Insects as Terrorist

More scare mongering? This actually seems plausible to me and damn it would make a good film too. Terrorists would find it “relatively easy” to launch a devastating attack using swarms of insects to spread a deadly disease, an academic has warned. Terrorists could use \'insect-based\' biological weapon

Law Firms get ready for wave of Bankruptcy Filings

The sharks have tasted the blood and are getting ready for the kill. It seems that a steady rise in corporate bankruptcy filings throughout 2008 is expected to crescendo in 2009 and 2010, with collapses spreading from the retail, auto-related, real estate and financial industries to almost any area affected by the downturn in consumer spending, lawyers in the area say.Firms get ready for Wave

Russia Stands Tall

The “strategy of national security of the Russian Federation until the year 2020″ a new document drafted by the Russian. The document itself begins with the claim that Russia has overcome the “consequences of the systemic political and socioeconomic crisis of the late 20th century” and has now restored its capacity to promote its national interest through “multipolar international relations”. After predictably designating the United States as Russia’s main rival, it then turns to how Russia may maintain its position in the world in future and describes rivalry for controlling global energy resources as a longer term source of conflict.Russia flexes its military muscle

Rioits continue in Greece

The unrest continues in Greece as a Policeman is shot. 20 shots were fired in total, and the shooters have gotten away. Gunmen shoot policeman in Athens

US Shoplifting up 84%!

More and more Americans are choosing (or being forced) to use the “5 finger discount ” at shops bringing an 84% increase in amateur theft. “There has been an inverse relationship between this increase in shoplifting and the economy and as the economy has gone down shoplifting has increased.” said Casey Chroust, senior vice president of retail operations for the Retail Leaders Industry Association.Shoppers strapped for cash help themselves

War,..who is it good for?

This war is good for NO ONE. On either side of the conflict. It IS good however for the extremist and racist on both sides of the Israeli and Palestinian conflict. After all you need a villain to further your agenda. And you need war to fill your pockets with money if your a weapons contractor.
Here are a few websites/blogs that are interesting in regards to the I/P story. First off, Brian Eno weighs is with his opinion An Experiment in Provocation Stealing Gaza By BRIAN ENO And here is a blog by a self-described “Liberal New Your Jew” who has alot of coverage on Israel/Gaza Mondoweiss And finally a place to get story’s and links about the conflict is Global Voices Online

Another Trillion + dollars missing in 2005 from the Pentagon

In case you missed this story a few years ago, a man named Dov Zackhiem who was the comptroller for the defense department quit around the same time that a trillion dollars went missing. Oh, and he was also one of the leading memebers of The PNAC and is a pro-war hawk and Bush crime family friend. Dov ZackheimStory of Dov Zackheim

Tel Aviv rally decries Gaza assault

While in America the press is decidedly Pro-Israel, here in Europe things can sometimes be the opposite. This story of thousands of Israelis on the streets protesting the war in Gaza? Haven’t seen much about this in the Euro papers. Tel Aviv rally decries Gaza assault

India’s ‘pink’ vigilante women

When your goverment does not protect you , then you gotta take the law into your own hands. And thats what several hundred vigilante women of India’s northern Uttar Pradesh state’s Banda area proudly call themselves the “gulabi gang” (pink gang), striking fear in the hearts of wrongdoers and earning the grudging respect of officials. India\'s \'pink\' vigilante women

You didn’t think that Madoff was the only thief now did you?

Jan. 2 (Bloomberg) — U.S. regulators working to untangle Bernard Madoff’s alleged $50 billion Ponzi scheme are probing other money managers suspected of using similar tactics, two people with knowledge of the inquiries said. Madoff just the tip of the Iceberg

Savers facing accounts with no interest

Millions of savers are braced for zero per cent accounts within days as the Bank of England is poised to cut interest rates to the lowest level in its 315-year history. Savers facing accounts with no interest

Pentagon can not account for 2.3 TRILLION dollars.

This story is from September 10, 2001 but many people have never heard it before. The Pentagon lost 2.3 TRILLION dollars. Donald Rumsfeld declared war. Not on foreign terrorists, “the adversary’s closer to home. It’s the Pentagon bureaucracy,” he said. He said money wasted by the military poses a serious threat. “In fact, it could be said it’s a matter of life and death,” he said on September 10th.
2.3 trillion lost

Indian and Pakistani tensions mount

From The Times On-Line:
“TENSIONS between India and Pakistan, the rival nuclear powers, are on a knife edge this weekend as Islamabad refuses to admit that the Mumbai terrorist outrage was planned and carried out by Pakistanis.”
Hopefully cool heads will prevail, and yes there is a history of both countries “being on the knifes edge” in the past and then slowly moving back from the edge. Lets hope this happens again this time.
India/Pakistan

2nd Bailout for British Banks is Needed

The 37 Billion of taxpayers money hasn’t done anything to help the banking crisis, and so they want more money, more money and more money. And more money. And also another base rate cut. On brink of second bailout for banks

States go for broke

On top of all the other new or worsening “crisis” coming this year, the states are going broke too. 5 Democratic Governors have just requested 1 trillion dollars to maintain education, social welfare and infrastructure programs. And this is just the tip of the iceberg. Keep an eye on California, because it may fall first. US States in Trouble

US Manufacturing hits lowest since at least 1948

US Manufacturing hits its lowest level since at least 1948!
“Every component suggests that the weakness is going to carry over into 2009,” Mark Vitner, a senior economist at Wachovia Corp. in Charlotte, North Carolina, said in a Bloomberg Television interview. “There’s just not a whole lot of new business coming in,” and companies will have a “painful adjustment” as consumers shun spending. Well yeah, that plus the fact that there is not much made in America anymore. Down, Down and Down

Sarkozy the Shill

No surprise that EU President and French Prime Minister Sarkozy, while in the Czech republic says that “At the moment, from the perspective of the last days, we understand this step as a defensive, not offensive, action,” .
Sarko Well we all know what side Sarko would take, being a member of the NeoCon Elite, now didn’t we?

Plan B for Global Warming

Weather Modification and Chemtrails coming to a sky near you and sponsored by your friendly neighborhood man-made global warming scientist and paid for by, you guessed it, YOU!  Plan B . And thanks to John for bringing this to my attention. He has a nice blog that you should check out here lishman

The difference between recession and depression?

Over at The Economist, a not too bad of an article regarding the differences between a recession and a depression, and what we may be technically in as of now. The article also notes that those economist who are optimistic about our future, are also the ones who were wrong about about where we are now earlier last year. My take? We will be entering a depression soon, it will be long lasting, and much much worse than any of your politicians or CNN’s will admit to.  Much Worse. Recession or depression?

US Man tried to blow 4 banks

A man in Aspen Colorado killed himself after attempting to rob and blow-up 4 banks. According to a letter that he wrote, it seems that a combination of the economic crisis, George Bush and his foreign policy and his dissatisfaction with urban progress in Aspen area led to his plans. And yes we will see more of this in 2009. Bank Bomber

And the Booming go Bust

If anyone out there thought that Dubai was somehow protected from the global economic crisis, then think again. Although it maybe took a little longer to feel the effects, it presently is in crash mode. House prices are down 40%, banks are not lending and most projects are on indefinite hold. Dubai Goes Bust

US Steel Industry to fall

Looks like next on the chopping block is the US Steel sector, which is looking for their bailout from you the taxpayers of about 1 Trillion dollars. Output of Steel has fallen 50% in the past year. US Steel

Top Economist predict Doom & Gloom for 2009

The Financial Times has an article featuring where some top economist predict massice doom and gloom: Bank Failures, Unemployment, Retail…you name it, and its going to crash even harder this year. Economists warn

Microsoft to announce mass layoffs

Well on top of their rather embarrassing Zune problems this past week, it looks like Microsoft will be one of the first giants to announce massive layoffs in the new year, about 10% of its work force. Its not a official yet but any moment now…Microsoft Cuts

No Hamas? No Food Crisis? No Biased US Press? I/P News Roundup

What if Hamas did nit exist? Would there be a Palestinian State? No Hamas Is Israel lying about a food crisis to continue its war? http://www.telegraph.co.uk/news/worldnews/middleeast/israel/4060914/Israel-accused-of-downplaying-food-crisis.html And the US media is biased now, is it? US News

African-American family not allowed to fly

African-American Family not allowed to fly on US Airline. Wait no it was a Christian family. No, sorry wrong again, it was a Jewish family. Actually it was a …Family not allowed to fly

440 Retail Chains to close in the first 4 months of 2009

Nearly 26 retailers will collapse every week in the first four months of the year, a leading retail analyst has predicted. Add in the affected their suppliers, manufacturers and service providers and there is no doubt we will all be feeling the effects. 440 chains to go bust

Icelandic Prime Minister almost Lynched on live Television

A televised meeting with Iceland’s prime minister and other politicians was forced off the air Wednesday night when a angry torch-wielding crowd stormed Reykjavik’s Hotel Borg in an attempt to get to the studio.
Icelandic TV program featuring PM forced off air

Poll