from globe and mail........
"China is in the midst of the biggest real estate bubble in human history—“Dubai in 2007 times 1,000.” And Sino-Forest, the less-than-meets-the-eye Canadian forestry play in China? That fits a pattern: Promoters “find a different investment hype, a story, to get people excited. In the 1990s, it was the Internet, and now it’s China. Unbridled growth”.............READ MORE
Friday, September 30, 2011
"Sex and the Single Drone: The Latest in Guarding the Empire"
does having drones mean that we can cancel the $trillion dollar F-35?.............from tomdispatch.........
"In the world of weaponry, they are the sexiest things around. Others countries are desperate to have them. Almost anyone who writes about them becomes a groupie. Reporters exploring their onrushing future swoon at their potentially wondrous techno-talents. They are, of course, the pilotless drones, our grimly named Predators and Reapers.
They are relatively cheap. When they “hunt,” no one dies (at least on our side). They are capable of roaming the world. Someday, they will land on the decks of aircraft carriers or, tiny as hummingbirds, drop onto a windowsill, maybe even yours, or in their hundreds, the size of bees, swarm to targets and, if all goes well, coordinate their actions using the artificial intelligence version of “hive minds.
"In the world of weaponry, they are the sexiest things around. Others countries are desperate to have them. Almost anyone who writes about them becomes a groupie. Reporters exploring their onrushing future swoon at their potentially wondrous techno-talents. They are, of course, the pilotless drones, our grimly named Predators and Reapers.
They are relatively cheap. When they “hunt,” no one dies (at least on our side). They are capable of roaming the world. Someday, they will land on the decks of aircraft carriers or, tiny as hummingbirds, drop onto a windowsill, maybe even yours, or in their hundreds, the size of bees, swarm to targets and, if all goes well, coordinate their actions using the artificial intelligence version of “hive minds.
As CIA Director, Leon Panetta called them “the only game in town.” As Secretary of Defense, Robert Gates pushed hard to up their numbers and increase their funding drastically. The U.S. Air Force is already training more personnel to become drone “pilots” than to pilot actual planes. You don’t need it in skywriting to know that, as icons of American-style war, they are clearly in our future -- and they’re even heading for the homeland as police departments clamor for them"............READ MORE
'Banks putting eurozone rescue at risk by refusing to increase capital buffers'
from the telegraph.....
"Senior sources said that leading European lenders are pushing back against international efforts to force them to recapitalise. Instead, they are insisting their problems are solely to do with liquidity and are calling on the European Central Bank (ECB) to flood the system with massive amounts of two-year funding to see them through the crisis".............READ MORE
"Senior sources said that leading European lenders are pushing back against international efforts to force them to recapitalise. Instead, they are insisting their problems are solely to do with liquidity and are calling on the European Central Bank (ECB) to flood the system with massive amounts of two-year funding to see them through the crisis".............READ MORE
2/3 of Pakistani population consider US the enemy....
all that foreign aid, and they still hate us...............from arab news.......
"Anti-American protests broke out in several Pakistani cities on Friday, a day after political leaders joined in rejecting US accusations that Islamabad was supporting militants.
"Anti-American protests broke out in several Pakistani cities on Friday, a day after political leaders joined in rejecting US accusations that Islamabad was supporting militants.
Mullen’s charges has added to anti-American sentiment in a country where a poll in June showed that almost two-thirds of the population considered the US an enemy.
“The prevailing view in Pakistan is that because of our alignment with the United States, our problems have increased,” said Talat Masood, a retired general and analyst.
“America's view is the opposite: 'Because you are not aligning yourself with us, your problems are increasing.'” “This,” he said, “is the whole dilemma at the moment”...................READ MORE
'Military retirees to pay higher health premiums'
from federal news radio.......
"Military retirees will pay slightly more for their health care starting Saturday, and more cost increases are on the way.
"Military retirees will pay slightly more for their health care starting Saturday, and more cost increases are on the way.
Premiums haven't been raised since 1994 and still will be just a fraction of what civilians pay. Under a change announced by the Defense Department on Thursday, individuals who enroll in the retiree program as of Saturday will pay $260 annually, up from $230, and it will be $520 annually for a family, up from $460.
Retirees already in the program will not see any increase until next year because they have already paid for this year. But "modest annual increases" are planned in the future, Cynthia Smith, a Pentagon spokeswoman, said.
Active duty service members get free health care and that will remain the same. But other personnel changes unpopular with service member may be in the offing due to U.S. budget problems, including changes to the system for retirement pay, which is under study"............READ MORE
'S.E.C. Finds Problems at Credit-Rating Agencies'
duh......why does it take washington years to figure out what americans knew years ago?...........from nytimes........
"An examination of credit-rating agencies by the Securities and Exchange Commission staff found repeated instances of the companies failing to follow their own procedures or adequately manage conflicts of interest, according to an S.E.C. staff report issued Friday"............READ MORE
"An examination of credit-rating agencies by the Securities and Exchange Commission staff found repeated instances of the companies failing to follow their own procedures or adequately manage conflicts of interest, according to an S.E.C. staff report issued Friday"............READ MORE
'Banks Successfully Lobbied For Weaker Bailout Repayment Rules So They Could Pay Bonuses'
from think progress.........
"When the nation’s biggest banks were bailed out in 2008 via the $700 billion Troubled Asset Relief Program, the money came with a few (very loose) strings, including restrictions on executive compensation and some requirements for the amount of capital the banks would have to raise in order to escape from TARP.
"When the nation’s biggest banks were bailed out in 2008 via the $700 billion Troubled Asset Relief Program, the money came with a few (very loose) strings, including restrictions on executive compensation and some requirements for the amount of capital the banks would have to raise in order to escape from TARP.
But as a new report from the Special Inspector General for TARP shows, even these restrictions were too much for some of the nation’s biggest banks — including Bank of America, Wells Fargo, and PNC — who lobbied for easier payback requirements so that they could be freed from restrictions on paying bonuses. And Treasury obliged their requests:
Federal banking regulators relaxed the November 2009 repayment criteria only weeks after they were established, bowing at least in part to a desire to ramp back the Government’s stake in financial institutions and to pressure by institutions seeking a swift TARP exit to avoid executive compensation restrictions and the stigma associated with TARP participation".............READ MORE
'Communist China and Recent Military Showdowns in the South China Sea'
from ensec.........
"For several decades, the countries sharing the coastlines of the South China Sea have been engaged in disputes over the ownership of a series of islands, the Spratly and Paracel Islands. The availability of offshore oil and gas resources in the islands’ proximity has been the main reason for such territorial disputes. This reality in a region with growing energy consumption and limited indigenous resources has pitted China, Brunei, Malaysia, the Philippines, Taiwan and Vietnam against each other".................READ MORE
"For several decades, the countries sharing the coastlines of the South China Sea have been engaged in disputes over the ownership of a series of islands, the Spratly and Paracel Islands. The availability of offshore oil and gas resources in the islands’ proximity has been the main reason for such territorial disputes. This reality in a region with growing energy consumption and limited indigenous resources has pitted China, Brunei, Malaysia, the Philippines, Taiwan and Vietnam against each other".................READ MORE
'China's debt-heavy bosses go on the run'
china is just another ponzi scheme waiting to implode..........from asia times online.......
"Businessmen have been forced to turn to private lenders for help in the wake of tighter central government loan policies introduced late last year to fight inflation. The higher interest rates that are demanded by the underground lenders can become particularly onerous when the businesses do not run as well as expected.
Most of the company heads who have absconded were involved in manufacturing and had borrowed hundreds of millions of yuan from banks and private creditors. Wenzhou has about 360,000 small and medium-sized enterprises, producing a wide range of consumer goods - from shoes, cigarette lighters to spectacles - whose low cost has helped to make China the world's workshop"............READ MORE
"Businessmen have been forced to turn to private lenders for help in the wake of tighter central government loan policies introduced late last year to fight inflation. The higher interest rates that are demanded by the underground lenders can become particularly onerous when the businesses do not run as well as expected.
Most of the company heads who have absconded were involved in manufacturing and had borrowed hundreds of millions of yuan from banks and private creditors. Wenzhou has about 360,000 small and medium-sized enterprises, producing a wide range of consumer goods - from shoes, cigarette lighters to spectacles - whose low cost has helped to make China the world's workshop"............READ MORE
'US has interest in help from Australia'
from smh.......
"China's muscle flexing over the South China Sea has led south east Asian states to seek security reassurances from Australia's global ally the United States, a regional analyst says".........READ MORE
"China's muscle flexing over the South China Sea has led south east Asian states to seek security reassurances from Australia's global ally the United States, a regional analyst says".........READ MORE
'Herbert Hoover: Father of the New Deal'
from cato..........
"Politicians and pundits portray Herbert Hoover as a defender of laissez faire governance whose dogmatic commitment to small government led him to stand by and do nothing while the economy collapsed in the wake of the stock market crash in 1929. In fact, Hoover had long been a critic of laissez faire. As president, he doubled federal spending in real terms in four years. He also used government to prop up wages, restricted immigration, signed the Smoot-Hawley tariff, raised taxes, and created the Reconstruction Finance Corporation—all interventionist measures and not laissez faire. Unlike many Democrats today, President Franklin D. Roosevelt's advisers knew that Hoover had started the New Deal. One of them wrote, "When we all burst into Washington ... we found every essential idea [of the New Deal] enacted in the 100-day Congress in the Hoover administration itself"............READ MORE
"Politicians and pundits portray Herbert Hoover as a defender of laissez faire governance whose dogmatic commitment to small government led him to stand by and do nothing while the economy collapsed in the wake of the stock market crash in 1929. In fact, Hoover had long been a critic of laissez faire. As president, he doubled federal spending in real terms in four years. He also used government to prop up wages, restricted immigration, signed the Smoot-Hawley tariff, raised taxes, and created the Reconstruction Finance Corporation—all interventionist measures and not laissez faire. Unlike many Democrats today, President Franklin D. Roosevelt's advisers knew that Hoover had started the New Deal. One of them wrote, "When we all burst into Washington ... we found every essential idea [of the New Deal] enacted in the 100-day Congress in the Hoover administration itself"............READ MORE
'Detroit's deadliest ZIP code targeted for crime crackdown'
from detnews........
"The U.S. Attorney's Office announced a 30-day plan to focus federal crime-fighting efforts on the ZIP code and said the Bureau of Alcohol, Tobacco, Firearms and Explosives has assigned an investigator inside the ZIP code full-time. Every gun case will be reviewed by federal prosecutors, U.S. Attorney Barbara McQuade said.
"The U.S. Attorney's Office announced a 30-day plan to focus federal crime-fighting efforts on the ZIP code and said the Bureau of Alcohol, Tobacco, Firearms and Explosives has assigned an investigator inside the ZIP code full-time. Every gun case will be reviewed by federal prosecutors, U.S. Attorney Barbara McQuade said.
"We don't want to be an occupying army," said Andrew Arena, special agent in charge of the FBI's Detroit office. "We want to give the neighborhood back to the community"..............READ MORE
'New Zealand loses its AAA status'
from smh.........
"New Zealand has lost its AAA grades on local-currency debt at Fitch Ratings and Standard & Poor’s, which both cited concerns about the nation’s fiscal burden. Benchmark government yields rose the most this year"..............READ MORE
"New Zealand has lost its AAA grades on local-currency debt at Fitch Ratings and Standard & Poor’s, which both cited concerns about the nation’s fiscal burden. Benchmark government yields rose the most this year"..............READ MORE
'Romanian Granted $675 Million Under IMF Precautionary Loan'
from bloomberg.........
"The government has cut public wages, frozen pensions and increased tax revenue, helping it meet a first-half budget- deficit target set by its lenders. The January-June shortfall was 11.3 billion lei ($3.6 billion), or 2.1 percent of GDP, below the 18.1 billion-lei gap in the year-earlier period and within its 12.6 billion-lei goal"...........READ MORE
"The government has cut public wages, frozen pensions and increased tax revenue, helping it meet a first-half budget- deficit target set by its lenders. The January-June shortfall was 11.3 billion lei ($3.6 billion), or 2.1 percent of GDP, below the 18.1 billion-lei gap in the year-earlier period and within its 12.6 billion-lei goal"...........READ MORE
Thursday, September 29, 2011
'Chilean Students Agree To Talks After Months Of Protests'
from latindispatch........
"The protests, which began in May of this year with students asking for educational reforms, have broadened to include demands ranging from a new constitution to a revamped tax system. President Piñera offered in July a $4 billion education fund, but it has done little to calm the situation in Chile"..........READ MORE
"The protests, which began in May of this year with students asking for educational reforms, have broadened to include demands ranging from a new constitution to a revamped tax system. President Piñera offered in July a $4 billion education fund, but it has done little to calm the situation in Chile"..........READ MORE
Photo Essay: Tattoos...........
from the atlantic.........
"Humans have been marking their skin permanently for thousands of years. A tattoo can be a remembrance, a constant prayer, a warning, or simply an amazing work of art. The reasons behind them can be intensely personal, decorative, whimsical, or utilitarian. They can signify tribal allegiance, personal history, or nothing at all. Collected below are recent images of skin art and a few glimpses into the owners of these tattoos and their reasons for modifying their own bodies. [36 photos]"............VIEW PICS HERE
"Humans have been marking their skin permanently for thousands of years. A tattoo can be a remembrance, a constant prayer, a warning, or simply an amazing work of art. The reasons behind them can be intensely personal, decorative, whimsical, or utilitarian. They can signify tribal allegiance, personal history, or nothing at all. Collected below are recent images of skin art and a few glimpses into the owners of these tattoos and their reasons for modifying their own bodies. [36 photos]"............VIEW PICS HERE
'Chinese analyst calls for war in South China Sea'
from taipeitimes..........
"The Ministry of Foreign Affairs yesterday reaffirmed Taiwan’s sovereignty over disputed islands in the South China Sea and called on all claimants to peacefully resolve the impasse.
"The Ministry of Foreign Affairs yesterday reaffirmed Taiwan’s sovereignty over disputed islands in the South China Sea and called on all claimants to peacefully resolve the impasse.
The comments came after an editorial published in the Chinese-language edition of the Chinese Communist Party-run Global Times called on the Beijing government to declare war on Vietnam and the Philippines, two countries that have been proactive in defending their claims over the islets.
The op-ed, titled “A good time to take military action in the South China Sea,” was penned by Long Tao (龍韜), a strategic analyst at the non-governmental China Energy Fund Committee and also at Zhejiang University’s Non-Traditional Security and Peace Development Research Center.
“Do not worry about small-scale wars; it is the best way to release the potential of war. Play a few small battles and big battles can be avoided,” Long wrote, adding that military action should be focused on striking the Philippines and Vietnam, “the two noisiest troublemakers,” to achieve the effect of killing one chicken to scare the monkeys"..........READ MORE
'Report: Budget cuts would hollow military'
good............end the "endless" wars and close the empire..........from washtimes........
"A new congressional report spells out in detail how the military would become “hollow” if Congress‘ super committee fails to agree on deficit reductions and $1 trillion in automatic spending cuts kick in.
"A new congressional report spells out in detail how the military would become “hollow” if Congress‘ super committee fails to agree on deficit reductions and $1 trillion in automatic spending cuts kick in.
The Army and Marine Corps would lose 200,000 troops, bringing active strength “well below” pre-Sept. 11, 2001, levels, and the armed forces would not be able to carry out its essential mission, says a 14-page analysis by the Republican majority staff of the Housed Armed Services Committee.
The report also says the cuts would deplete weapon systems, further degrading the fighting capabilities of the armed forces"..............READ MORE
Noam Chomsky: "Is the World Too Big to Fail?"
"Noam Chomsky explains how the global order of power has been created and describes the mechanisms behind its continuity"
repost..........from aljazeera........
"From the outset of the war in 1939, Washington anticipated that it would end with the US in a position of overwhelming power. High-level State Department officials and foreign policy specialists met through the wartime years to lay out plans for the postwar world. They delineated a "Grand Area" that the US was to dominate, including the Western hemisphere, the Far East, and the former British empire, with its Middle East energy resources. As Russia began to grind down Nazi armies after Stalingrad, Grand Area goals extended to as much of Eurasia as possible, at least its economic core in Western Europe. Within the Grand Area, the US would maintain "unquestioned power," with "military and economic supremacy," while ensuring the "limitation of any exercise of sovereignty" by states that might interfere with its global designs. The careful wartime plans were soon implemented"...............READ MORE
repost..........from aljazeera........
"From the outset of the war in 1939, Washington anticipated that it would end with the US in a position of overwhelming power. High-level State Department officials and foreign policy specialists met through the wartime years to lay out plans for the postwar world. They delineated a "Grand Area" that the US was to dominate, including the Western hemisphere, the Far East, and the former British empire, with its Middle East energy resources. As Russia began to grind down Nazi armies after Stalingrad, Grand Area goals extended to as much of Eurasia as possible, at least its economic core in Western Europe. Within the Grand Area, the US would maintain "unquestioned power," with "military and economic supremacy," while ensuring the "limitation of any exercise of sovereignty" by states that might interfere with its global designs. The careful wartime plans were soon implemented"...............READ MORE
'FBI faces entrapment questions over Rezwan Ferdaus bomb plot arrest'
from the guardian......
"Rezwan Ferdaus, a 26-year-old US citizen and physics graduate who lived at home with his parents in Ashland, near Boston, was the target of an FBI sting in which he bought a miniature aircraft that he planned to outfit as a flying bomb.
"Rezwan Ferdaus, a 26-year-old US citizen and physics graduate who lived at home with his parents in Ashland, near Boston, was the target of an FBI sting in which he bought a miniature aircraft that he planned to outfit as a flying bomb.
However, some legal organisations and Muslim groups have questioned whether Ferdaus, whose activities were carried out with two undercover FBI agents posing as terrorists, would have been able to carry out such a sophisticated plot if left to his own devices. In numerous previous cases in the US, the FBI has been accused of over-zealousness in its investigations and of entrapping people into terror plots who might otherwise not have carried out an attack.
"It deeply concerns us. It is another in a pattern of high-profile cases. Would this person have conceived or executed this plot without the influence of the FBI?" said Heidi Boghosian, president of the National Lawyers Guild".............READ MORE
'Lithuania: Rights group calls for new CIA probe'
jordan just got more us taxpayer money..............from ap........
"A human rights group called on Lithuania on Thursday to reopen its investigation into CIA prisons and the alleged torturing of terrorist suspects based on what they said was new evidence of a rendition flight to the Baltic state.
"A human rights group called on Lithuania on Thursday to reopen its investigation into CIA prisons and the alleged torturing of terrorist suspects based on what they said was new evidence of a rendition flight to the Baltic state.
Julia Hall, an analyst with Amnesty International, that a Boeing 727 allegedly carrying an al-Qaida suspect, Abu Zubaydah, landed in the Lithuanian capital of Vilnius on Feb. 17, 2005, after taking off from Morocco and refueling in Jordan"...........READ MORE
'China's 'resource imperialism' a risk for Australia'
from smh..........
"Leading American investment analyst James Dines has criticized Australia for allowing China to buy large swathes of its natural resources in what he calls "resource imperialism".
"Leading American investment analyst James Dines has criticized Australia for allowing China to buy large swathes of its natural resources in what he calls "resource imperialism".
Australia was in danger of squandering it's "irreplaceable inheritance ... traded for easily printed paper", Mr Dines said.
Mr Dines, the keynote speaker this week at the RIU Victorian Resources Roundup conference, told an audience of mining executives, brokers and investors that the end of capitalism as we knew it had arrived and that we were in the second great economic depression"............READ MORE
Zimbabwe: Pros and Cons of Sino-Govt Trade Relations
we have a major problem when cheap imports from a communist country are effecting poor countries in africa..........from all africa..........
"OVER the years local business people have raised concern over the issue of cheap imports that are flooding the market posing unfair competition for locally manufactured goods.
"OVER the years local business people have raised concern over the issue of cheap imports that are flooding the market posing unfair competition for locally manufactured goods.
Most of these goods, which include clothes, electrical equipment and furniture, are being imported from across the world including China".............READ MORE
'U.S. threatens sanctions on Chinese banks over Iran'
from trend azerbaijan..........
"Washington could impose sanctions on China's biggest banks if they are caught doing business with an Iranian insurance company on the U.S. blacklist, David Cohen, undersecretary of Treasury for terrorism and financial intelligence, said on Wednesday, AFP reported.
"Washington could impose sanctions on China's biggest banks if they are caught doing business with an Iranian insurance company on the U.S. blacklist, David Cohen, undersecretary of Treasury for terrorism and financial intelligence, said on Wednesday, AFP reported.
"Any foreign bank that receives payment from Moallem on behalf of a client, risks losing its ability to do business in the United States," Cohen said in the meeting with Chinese banks' representatives"...............READ MORE
Pepe Escobar: "Pentagon aims at target Pakistan"
another must read from pepe..............from asia times online.........
"Syria will have to wait. The next stop in the Pentagon-coined "long war" is bound to be Pakistan. True, a war is already on in what the Barack Obama administration named AfPak. But crunch time in Pak itself looms closer and closer. Call it the "no bomb left behind" campaign.
Al-Qaeda is a thing of the past; after all, al-Qaeda assets such as Abdelhakim Belhaj are now running Tripoli. The new Washington-manufactured mega-bogeyman is now the Haqqani network.
A relentless, Haqqani-targeted manufacture of consensus industry is already on overdrive, via a constellation of the usual neo-conservative suspects, assorted Republican warmongers, "Pentagon officials" and industrial-military complex shills in corporate media.
The Haqqani network, a force of 15,000 to 20,000 Pashtun fighters led by former anti-Soviet mujahideen figure Jalalludin Haqqani, is a key component of the Afghan insurgency from its bases in Pakistan's North Waziristan tribal area"...............READ MORE
"Syria will have to wait. The next stop in the Pentagon-coined "long war" is bound to be Pakistan. True, a war is already on in what the Barack Obama administration named AfPak. But crunch time in Pak itself looms closer and closer. Call it the "no bomb left behind" campaign.
Al-Qaeda is a thing of the past; after all, al-Qaeda assets such as Abdelhakim Belhaj are now running Tripoli. The new Washington-manufactured mega-bogeyman is now the Haqqani network.
A relentless, Haqqani-targeted manufacture of consensus industry is already on overdrive, via a constellation of the usual neo-conservative suspects, assorted Republican warmongers, "Pentagon officials" and industrial-military complex shills in corporate media.
The Haqqani network, a force of 15,000 to 20,000 Pashtun fighters led by former anti-Soviet mujahideen figure Jalalludin Haqqani, is a key component of the Afghan insurgency from its bases in Pakistan's North Waziristan tribal area"...............READ MORE
'US provides $359.3 million in aid to Jordan'
we've got our own problems............from arabnews........
"The United States has signed to give Jordan $359.3 million in aid to create jobs and improve education, as well as advance political development.
"The United States has signed to give Jordan $359.3 million in aid to create jobs and improve education, as well as advance political development.
The US Embassy in Amman said the bulk of the grant, $184 million, is aimed at helping Jordan lower its international debt and advance its political reforms.
Thousands of Jordanians took to the streets this year to demand greater democracy and lower living costs.
Officials at the signing ceremony on Wednesday said the US aid will also be used for projects to improve health services and water management.
Jordan is a close US ally and one of the top recipients of American aid worldwide. US economic assistance to Jordan over the past 60 years has totaled $7.4 billion".................READ MORE
'Ron Paul Slams Ben Bernanke, Federal Reserve'
time to "end the fed".............from the state........
"“The Federal Reserve has maintained artificially low interest rates and pumped trillions of dollars created out of thin air into the economy, yet it remains stagnant,” Paul’s campaign professed. According to the Federal Reserve’s statement, the Central Bank will keep the “target range for the federal funds rate at 0 to 1/4 percent.”
"“The Federal Reserve has maintained artificially low interest rates and pumped trillions of dollars created out of thin air into the economy, yet it remains stagnant,” Paul’s campaign professed. According to the Federal Reserve’s statement, the Central Bank will keep the “target range for the federal funds rate at 0 to 1/4 percent.”
Paul’s campaign slammed this strategy as a step down the wrong path for the economy. “This very strategy of Fed-based stimulus and interest rate manipulation is what pushed our economy to this point to begin with, but Mr. Bernanke, the Obama administration, and proponents of the status quo see absolutely nothing wrong with continuing down this destructive path,” Paul’s campaign added"................READ MORE
'China and Russia tussle over SCO's future'
from asiatimesonline.........
"Beijing's newfound interest in SCO defense and security issues should not be a surprise for several reasons. One is the pending withdrawal from Afghanistan by the US military. Though "phased," it is unlikely to stabilize the war-torn country, and the growing insurgency in Afghanistan is sure to have a spillover effect on its neighbors. A more proactive approach is needed.
Moreover, the past decade has witnessed China's growing economic presence in Central Asia, where thousands of kilometers of oil and gas pipelines are vulnerable to sabotage. Since early 2011, Beijing has watched as its economic holdings evaporated in many parts of the Arab world and North Africa. If the SCO is to avoid such a consequence, its member states must improve the current security mechanism"............READ MORE
"Beijing's newfound interest in SCO defense and security issues should not be a surprise for several reasons. One is the pending withdrawal from Afghanistan by the US military. Though "phased," it is unlikely to stabilize the war-torn country, and the growing insurgency in Afghanistan is sure to have a spillover effect on its neighbors. A more proactive approach is needed.
Moreover, the past decade has witnessed China's growing economic presence in Central Asia, where thousands of kilometers of oil and gas pipelines are vulnerable to sabotage. Since early 2011, Beijing has watched as its economic holdings evaporated in many parts of the Arab world and North Africa. If the SCO is to avoid such a consequence, its member states must improve the current security mechanism"............READ MORE
'Why Don't the Deficit Hawks Want to Tax Wall Street?'
from zcomm.........
"The intensity with which the country's leading deficit hawks continue to ignore financial speculation taxes (FST) is getting ever more entertaining. While deficit hawks like Wall Street investment banker Peter Peterson, Morgan Stanley Director Erskine Bowles and The Washington Post never tire of preaching the virtues of shared sacrifice, somehow sacrifice for Wall Street never features as a part of this story.
"The intensity with which the country's leading deficit hawks continue to ignore financial speculation taxes (FST) is getting ever more entertaining. While deficit hawks like Wall Street investment banker Peter Peterson, Morgan Stanley Director Erskine Bowles and The Washington Post never tire of preaching the virtues of shared sacrifice, somehow sacrifice for Wall Street never features as a part of this story.
The refusal of this group to consider FST is becoming more striking because most of the world appears to be moving in this direction. Last spring, the European Parliament voted by an almost four to one margin in support of FST. The European Commission, the executive body of the European Union (EU), is now making plans to implement a modest tax beginning in 2014"...........READ MORE
Wednesday, September 28, 2011
'A $50 Billion Claim of Havoc Looms for Bank of America'
ouch.............from nytimes.........
"This lawsuit, brought by Bank of America shareholders, claims that Bank of America and its executives, including its former chief executive, Kenneth D. Lewis, failed to disclose what would be a $15.31 billion loss at Merrill in the days before and after the acquisition. The plaintiffs contend that this staggering loss was hidden to ensure that Bank of America shareholders did not vote against the transaction".............READ MORE
"This lawsuit, brought by Bank of America shareholders, claims that Bank of America and its executives, including its former chief executive, Kenneth D. Lewis, failed to disclose what would be a $15.31 billion loss at Merrill in the days before and after the acquisition. The plaintiffs contend that this staggering loss was hidden to ensure that Bank of America shareholders did not vote against the transaction".............READ MORE
Connecticut: 'Corporate Welfare 101'
from ctpost.........
"So Gov. Dannel Malloy is giving $20 million of the people's money to UBS executives. How sweet. It's almost like a direct transfer -- slash and burn overworked and underpaid state employees, then hand a chunk of the dough over to the richest of the rich. Just to be sure they don't miss any payments on those new yachts, we can assume. Like they say, nice work if you can get it"................READ MORE
"So Gov. Dannel Malloy is giving $20 million of the people's money to UBS executives. How sweet. It's almost like a direct transfer -- slash and burn overworked and underpaid state employees, then hand a chunk of the dough over to the richest of the rich. Just to be sure they don't miss any payments on those new yachts, we can assume. Like they say, nice work if you can get it"................READ MORE
'Europe's banking woes have begun to set off a funding crunch in the emerging markets of Asia, Latin America, and Eastern Europe, leaving them nakedly exposed as the rich world slides into a double-dip downturn'
from the telegraph.........
"Most developing countries lack a proper bond market so firms rely on global finance to raise capital. Almost 80pc of the money come from European banks, which have lent $3.4 trillion to emerging markets. Part of the funding comes from US money markets – which have effectively pulled the plug on Europe. This adds a nasty twist to what is already a very twisted nexus.
"Most developing countries lack a proper bond market so firms rely on global finance to raise capital. Almost 80pc of the money come from European banks, which have lent $3.4 trillion to emerging markets. Part of the funding comes from US money markets – which have effectively pulled the plug on Europe. This adds a nasty twist to what is already a very twisted nexus.
Data from the Bank for International Settlements show that Europe's banks have lent $1.3 trillion to Eastern Europe, $900bn to emerging Asia and almost $500bn to Latin America. The danger is a "sudden stop" in lending"................READ MORE
'It's Time to Get Money Out of Politics'
for those who have not seen or signed the petition..........
"Bailouts. War. Unemployment. Our government is bought, and we’re angry. Now, we’re turning our anger into positive action. By signing this petition, you are joining our campaign to get money out of politics. Our politicians won’t do this. But we will. We will become an unrelenting, organized wave advocating a Constitutional amendment to get money out of politics.
As the petition grows, we can use my show on MSNBC as a platform to force this issue to the center of the 2012 elections. Join us. Sign up. Tell your friends. Facebook it. Tweet it.#GetMoneyOut."
http://www.getmoneyout.com/
'Defense spending is not biggest job creator'
we must end the "endless" wars................from azstarnet..........
"The Pentagon has warned that cuts of as much as $1 trillion in defense spending over 10 years may drive up the nation's unemployment rate, now 9.1 percent, by as much as one percentage point.
"The Pentagon has warned that cuts of as much as $1 trillion in defense spending over 10 years may drive up the nation's unemployment rate, now 9.1 percent, by as much as one percentage point.
Bloomberg's BGOV Barometer shows that, by that logic, cuts of the same magnitude in several nondefense areas would lead to an even greater increase in the jobless rate, judging from study findings by the Political Economy Research Institute at the University of Massachusetts at Amherst.
"That's the obvious conclusion," said study author Robert Pollin, co-director of the institute, in an interview. "The Pentagon is a relatively weak source of job creation".............READ MORE
'France targets deficit with 2012 austerity budget'
from france24......
"The French government on Wednesday presented a tough 2012 austerity budget, promising to balance strained public finances but warning that eurozone debt "turbulence" could yet derail timid growth.
"The French government on Wednesday presented a tough 2012 austerity budget, promising to balance strained public finances but warning that eurozone debt "turbulence" could yet derail timid growth.
France's public deficit will reach 5.7 percent of gross domestic product this year, before dropping to 4.5 percent in 2012 and then to the European Union limit of 3.0 percent in 2013 and 2.0 percent in 2014"...............READ MORE
'Fisher Says Central Bank Is Under Attack From Ron Paul, Barney Frank'
who should be in charge of monetary policy?.........a good question...........from bloomberg.........
"Federal Reserve Bank of Dallas President Richard Fisher said the central bank’s independence is under attack from both ends of the political spectrum in Congress, and he singled out two of the critics by name.
"Federal Reserve Bank of Dallas President Richard Fisher said the central bank’s independence is under attack from both ends of the political spectrum in Congress, and he singled out two of the critics by name.
“We are being attacked from the right and from the left, and I don’t see much difference between a certain congressman from Texas named Ron Paul and a certain congressman from Massachusetts named Barney Frank,” Fisher said in response to audience questions after a speech in Dallas. Paul is a Republican and Frank is a Democrat.
“I don’t see any difference between them,” Fisher said, referring to Frank and Paul. “They believe we have too much independence. They believe that Congress should be in charge of monetary policy”..........READ MORE
'Oxfam warns of spiralling land grab in developing countries'
from the guardian........
"The scale of the rush by speculators, pension funds and global agri-businesses to acquire large areas of developing countries is far greater than previously thought, and is already leading to conflict, hunger and human rights abuses, says Oxfam.
"The scale of the rush by speculators, pension funds and global agri-businesses to acquire large areas of developing countries is far greater than previously thought, and is already leading to conflict, hunger and human rights abuses, says Oxfam.
The NGO has identified 227m ha (561m acre ha) of land – an area the size of north-west Europe – as having being reportedly sold, leased or licensed, largely in Africa and mostly to international investors in thousands of secretive deals since 2001. This compares with about 56m ha identified by the World Bank earlier this year, again predominantly in Africa".............READ MORE
'Mass Inflation, Yes; Hyperinflation, No'
from lew rockwell.com.........
"The United States is not going to get hyperinflation unless Congress nationalizes the Federal Reserve System.
"The United States is not going to get hyperinflation unless Congress nationalizes the Federal Reserve System.
It will get mass inflation at some point: anywhere from 15% per annum to 30%. But it is not going to get 50% or 100% or more.
Why not?
1. The temporary nature of the payoff
2. The fear of getting blamed
3. The boom-bust cycle
4. The employees' vested pension fund"................READ MORE
'The Decline of American Client States'
from the atlantic.........
"America's love affair with client states began not long after it and the Soviet Union -- another master in the art of client-building -- pressured the UK and France to leave Egypt, which they had invaded in 1956 to reclaim control of the Suez Canal. European colonialism, the U.S. and USSR argued at the United Nations that year, was outdated, destabilizing, and had to end. British and French forces withdrew from Egypt, and within about a decade most of the British and French empires collapsed. Meanwhile, the U.S. and Soviet Union had begun a different great geopolitical game -- the search for client states -- one that Washington is still playing today"...............READ MORE
"America's love affair with client states began not long after it and the Soviet Union -- another master in the art of client-building -- pressured the UK and France to leave Egypt, which they had invaded in 1956 to reclaim control of the Suez Canal. European colonialism, the U.S. and USSR argued at the United Nations that year, was outdated, destabilizing, and had to end. British and French forces withdrew from Egypt, and within about a decade most of the British and French empires collapsed. Meanwhile, the U.S. and Soviet Union had begun a different great geopolitical game -- the search for client states -- one that Washington is still playing today"...............READ MORE
'The Worst Is Yet to Come in Libya'
from nationalinterest........
"AS THE dust begins to settle in Libya two things are clear. Though NATO is celebrating its triumph, its campaign actually raises serious question about its future; and while Libyans rejoice at their freedom, they, unlike Egyptians and Tunisians, face the daunting challenge that Afghans and Iraqis did: rebuilding a state from the debris of despotism".............READ MORE
"AS THE dust begins to settle in Libya two things are clear. Though NATO is celebrating its triumph, its campaign actually raises serious question about its future; and while Libyans rejoice at their freedom, they, unlike Egyptians and Tunisians, face the daunting challenge that Afghans and Iraqis did: rebuilding a state from the debris of despotism".............READ MORE
Tuesday, September 27, 2011
'Anonymous Publicly Identifies NYPD Officer Who Cowardly Pepper-Sprayed Protesters'
from death and taxes.........
"The NYPD officer who pepper-sprayed female protesters this past weekend in Union Square has been publicly identified, as claimed in a Pastebin posting by Anonymous—Deputy Inspector Anthony V. Bologna of the NYPD Patrol Borough Manhattan South. A man who always wanted to be a police officer and who seems to relish being promoted.
"The NYPD officer who pepper-sprayed female protesters this past weekend in Union Square has been publicly identified, as claimed in a Pastebin posting by Anonymous—Deputy Inspector Anthony V. Bologna of the NYPD Patrol Borough Manhattan South. A man who always wanted to be a police officer and who seems to relish being promoted.
Anonymous posted, “As we watched your officers kettle innocent women, we observed you barberically pepper spray wildly into the group of kettled women. We were shocked and disgusted by your behavior. You know who the innocent women were, now they will have the chance to know who you are. Before you commit atrocities against innocent people, think twice.”
The Anonymous posters also included Bologna’s phone number, his past and present precinct details and also information relating to his past and present residences as well as family members. This last detail, however, is of some concern—his children, wife, cousins, etc., were not involved in his despicable actions and they didn’t deserve to be included in Bologna’s dox"............READ MORE
'Saving the Rich and Losing the Economy'
from paul craig roberts and foreignpolicyjournal..........
"Economic policy in the United States and Europe has failed, and people are suffering.
"Economic policy in the United States and Europe has failed, and people are suffering.
Economic policy failed for three reasons: (1) policymakers focused on enabling offshoring corporations to move middle class jobs, and the consumer demand, tax base, GDP, and careers associated with the jobs, to foreign countries, such as China and India, where labor is inexpensive; (2) policymakers permitted financial deregulation that unleashed fraud and debt leverage on a scale previously unimaginable; (3) policymakers responded to the resulting financial crisis by imposing austerity on the population and running the printing press in order to bail out banks and prevent any losses to the banks regardless of the cost to national economies and innocent parties"..............READ MORE
'Is the US Destabilizing Asia?'
from the diplomat........
"The Obama administration has announced the United States’ ‘return to Asia,’ and many old friends in the region welcomed renewed attention from Washington. But many Chinese suspect the United States’ return really means engaging in a form of containment of China. Some even say that since the Taiwan Strait has become calmer with the ascension of President Ma Ying-jeou, the United States is turning to the South China Sea as a new pressure point to keep China in check".............READ MORE
"The Obama administration has announced the United States’ ‘return to Asia,’ and many old friends in the region welcomed renewed attention from Washington. But many Chinese suspect the United States’ return really means engaging in a form of containment of China. Some even say that since the Taiwan Strait has become calmer with the ascension of President Ma Ying-jeou, the United States is turning to the South China Sea as a new pressure point to keep China in check".............READ MORE
'The “end game” is in Pakistan'
dont trust the war mongers, americans dont want another 10 year war..............from blogs.reuters.........
"The United States has turned on Pakistan with such dizzying speed over the past few weeks that it is difficult to keep pace. Yet what is clear after Admiral Mike Mullen’s extraordinarily blunt statement that the Haqqani militant network is a “veritable arm” of the Inter-Services Intelligence (ISI) agency is that it now has the Pakistan army very firmly in its sights"...............READ MORE
also see this from paul craig roberts.........."The Latest Orchestrated Threat"......READ MORE
Roberts writes.........."Now America’s "worst enemy" is the Haqqanis. Moreover, unlike Al Qaeda, which was never tied to a country, the Haqqani Network, according to Admiral Mike Mullen, chairman of the US Joint Chiefs of Staff, is a "veritable arm" of the Pakistani government’s intelligence service, ISI. Washington claims that the ISI ordered its Haggani Network to attack the US Embassy in Kabul, Afghanistan, on September 13 along with the US military base in Wadak province"..................
"The United States has turned on Pakistan with such dizzying speed over the past few weeks that it is difficult to keep pace. Yet what is clear after Admiral Mike Mullen’s extraordinarily blunt statement that the Haqqani militant network is a “veritable arm” of the Inter-Services Intelligence (ISI) agency is that it now has the Pakistan army very firmly in its sights"...............READ MORE
also see this from paul craig roberts.........."The Latest Orchestrated Threat"......READ MORE
Roberts writes.........."Now America’s "worst enemy" is the Haqqanis. Moreover, unlike Al Qaeda, which was never tied to a country, the Haqqani Network, according to Admiral Mike Mullen, chairman of the US Joint Chiefs of Staff, is a "veritable arm" of the Pakistani government’s intelligence service, ISI. Washington claims that the ISI ordered its Haggani Network to attack the US Embassy in Kabul, Afghanistan, on September 13 along with the US military base in Wadak province"..................
'The 10 States Losing the Most Jobs to China'
gotta blame congress too...............from the atlantic........
"China is stealing American jobs. Labor unions, politicians and economists have used this accusation for some time. The logic is simple. While a manufacturing job in the U.S. may pay $50 an hour, when salary and benefits are factored in, Chinese factory laborers make little more than a few hundred dollars a month.
With American companies moving operations to China and international companies preferring the cheaper Chinese-made goods, the Economic Policy Institute found the U.S. lost 2.8 million jobs to China in the past decade. While all states have been affected, 24/7 Wall St. looked at the ten states that lost the most jobs to China"..............READ MORE
"China is stealing American jobs. Labor unions, politicians and economists have used this accusation for some time. The logic is simple. While a manufacturing job in the U.S. may pay $50 an hour, when salary and benefits are factored in, Chinese factory laborers make little more than a few hundred dollars a month.
With American companies moving operations to China and international companies preferring the cheaper Chinese-made goods, the Economic Policy Institute found the U.S. lost 2.8 million jobs to China in the past decade. While all states have been affected, 24/7 Wall St. looked at the ten states that lost the most jobs to China"..............READ MORE
POLICE STATE: Occupy Wall Street- Police brutality, media blackout
welcome to the new police state............goodbye america, it was nice to know ya..........from rt.com.......
'Economists: Foreclosure backlog may delay housing price 'bottom' until 2013'
from tcpalm.........
"With hundreds of thousands of foreclosure cases clogging Florida's courts and more defaulted loans in the pipeline, economists now predict home prices won't hit bottom until late 2012 or early 2013.
"With hundreds of thousands of foreclosure cases clogging Florida's courts and more defaulted loans in the pipeline, economists now predict home prices won't hit bottom until late 2012 or early 2013.
But whether clearing the logjam through an expedited foreclosure process will equal a shortcut to economic recovery is still up for debate. The current timeline to foreclosure in Florida is 676 days — nearly two years — the third-longest wait time in the country".........READ MORE
'Boost UK defence spending or lose the Falklands, warn military grandees'
from the guardian........
"The UK needs to pour billions more into defence spending to counter future threats if the country is to avoid "expensive and possibly catastrophic mistakes" caused by under-funding, a report warns.
"The UK needs to pour billions more into defence spending to counter future threats if the country is to avoid "expensive and possibly catastrophic mistakes" caused by under-funding, a report warns.
One of the report's authors said the Falkland Islands are a "plum ripe for the picking" should Argentina, with the support of its ally China, choose to contest British claims to sovereignty".............READ MORE
'Monetary System In Ruin, Signals Of Systemic Collapse'
from market oracle..........
"Wow!! The billboard signals of extreme crisis are overwhelming. Three years of near 0% with no recovery. A full year of ample USTreasury and mortgage bond monetization with no recovery. Tons of cash aid deliveries to the big US banks with no recovery. Some key corporate nationalizations with no recovery. Oodles of errant stimulus programs with no recovery. Some important misdirection in home loan aid initiatives with no recovery. The US Federal Reserve admits it can do nothing more as a recovery remains elusive. The USGovt is paralyzed by disguised fascist warmongers opposed by disguised marxist collectivists, but intent on maintaining the status quo among bank fraud. An approved accounting fraud directive is kept in place to present a picture of bank solvency. Intermediate credit markets have come to a standstill".....................READ MORE.
"Wow!! The billboard signals of extreme crisis are overwhelming. Three years of near 0% with no recovery. A full year of ample USTreasury and mortgage bond monetization with no recovery. Tons of cash aid deliveries to the big US banks with no recovery. Some key corporate nationalizations with no recovery. Oodles of errant stimulus programs with no recovery. Some important misdirection in home loan aid initiatives with no recovery. The US Federal Reserve admits it can do nothing more as a recovery remains elusive. The USGovt is paralyzed by disguised fascist warmongers opposed by disguised marxist collectivists, but intent on maintaining the status quo among bank fraud. An approved accounting fraud directive is kept in place to present a picture of bank solvency. Intermediate credit markets have come to a standstill".....................READ MORE.
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