as you read this, remember that china has no brands to speak of.............from the atlantic..........
"There was a time, going back at least 70 years, when all it took to be successful in business was to make a product of good quality. If you offered good coffee, whiskey or beer, people would come to your shop and buy it. And as long as you made sure that your product quality was superior to the competition, you were pretty much set. Well into the 1970s, a savvy consumer could distinguish between high-quality and shabby products quite easily"..............READ MORE
Tuesday, October 4, 2011
Ron Paul slams The Fed.........AGAIN
we thank ron paul for speaking out against this monster called "the federal reserve bank"........from the state column........
"In September, the Federal Reserve launched “Operation Twist” to drive down interest rates, reports CNN Money. The idea behind “Operation Twist” is to encourage businesses and individuals to spend and borrow more money. “This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accomodative,” the Federal Reserve said in a statement.
"In September, the Federal Reserve launched “Operation Twist” to drive down interest rates, reports CNN Money. The idea behind “Operation Twist” is to encourage businesses and individuals to spend and borrow more money. “This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accomodative,” the Federal Reserve said in a statement.
In response to the Federal Reserve’s move, Paul said that it “is just the latest instance of the central bank desperately flailing around doing something merely for the sake of doing something.” Paul added that the Federal Reserve is to blame for the financial crisis and that the “latest action will just exacerbate the problem”..............READ MORE
Alex Jones: 'Occupy The Fed Movement Launched'
from infowars..........
The Occupy Wall Street crowd has become predictably focused on issues like taxing the middle class and moderately “rich,” ending capitalism and even re-electing Obama to ‘fight’ the very elites who pushed him into power. Focus should instead be on the real source of power for the out-of-control bankster class- the private, unaccountable Federal Reserve bank that creates money out of thin air, issues secret loans to insiders and foreign governments and systematically institutes debt on the American people through their undue powers.
With this in mind, Alex Jones is calling on patriots to “occupy” branches of the Federal Reserve, with plans to appear at three locations in Texas this weekend in Dallas, Houston and San Antonio. The times and locations appear below. Further, people everywhere should converge upon Fed locations in their area to raise awareness about the real culprit behind the economic crisis.............LINK
'Obama seeks debt collector proposal'
from ap...........
"To the dismay of consumer groups and the discomfort of Democrats, President Barack Obama wants Congress to make it easier for private debt collectors to call the cellphones of consumers delinquent on student loans and other billions owed the federal government.
"To the dismay of consumer groups and the discomfort of Democrats, President Barack Obama wants Congress to make it easier for private debt collectors to call the cellphones of consumers delinquent on student loans and other billions owed the federal government.
The change "is expected to provide substantial increases in collections, particularly as an increasing share of households no longer have landlines and rely instead on cellphones," the administration wrote recently. The little-noticed recommendation would apply only to cases in which money is owed the government, and is tucked into the mammoth $3 trillion deficit-reduction plan the president submitted to Congress"..............READ MORE
'Communist China becomes an urban nation at breakneck speed'
from the guardian...........
"This is the year China finally became an urban nation. In April the census revealed that 49.7% of its 1.34bn population was living in cities, compared with around a fifth as economic reforms got off the ground in 1982. By now, China's urbanites outnumber their country cousins. "The process they have been going through over three decades took four or five decades in Japan and [South] Korea and 100 years in the west," says Edward Leman, whose Chreod consultancy has advised numerous Chinese cities on development.
"This is the year China finally became an urban nation. In April the census revealed that 49.7% of its 1.34bn population was living in cities, compared with around a fifth as economic reforms got off the ground in 1982. By now, China's urbanites outnumber their country cousins. "The process they have been going through over three decades took four or five decades in Japan and [South] Korea and 100 years in the west," says Edward Leman, whose Chreod consultancy has advised numerous Chinese cities on development.
It is not only the extraordinary speed that is "unprecedented and unparalleled", says Prof Paul James of the Global Cities Institute at RMIT University in Melbourne. "It represents the most managed process of urbanisation in human history. The state is involved in every way. It manages the building of new cities. It regulates the housing of internally displaced people. It responds actively and sometimes oppressively to new waves of squatters".................READ MORE
'Cozy relationships and ‘peer benchmarking’ send CEOs’ pay soaring'
from wapo..........
"This is how it’s done in corporate America. At Amgen and at the vast majority of large U.S. companies, boards aim to pay their executives at levels equal to or above the median for executives at similar companies.
"This is how it’s done in corporate America. At Amgen and at the vast majority of large U.S. companies, boards aim to pay their executives at levels equal to or above the median for executives at similar companies.
The idea behind setting executive pay this way, known as “peer benchmarking,” is to keep talented bosses from leaving.
But the practice has long been controversialbecause, as critics have pointed out, if every company tries to keep up with or exceed the median pay for executives, executive compensation will spiral upward, regardless of performance. Few if any corporate boards consider their executive teams to be below average, so the result has become known as the “Lake Wobegon” effect"..............READ MORE
'Fannie Mae Knew Early of Abuses, Report Says'
from nytimes.......
"Fannie Mae, the mortgage finance giant, learned as early as 2003 of extensive foreclosure abuses among the law firms it had hired to remove troubled borrowers from their homes. But the company did little to correct the firms’ practices, according to a report issued Tuesday"...............READ MORE
"Fannie Mae, the mortgage finance giant, learned as early as 2003 of extensive foreclosure abuses among the law firms it had hired to remove troubled borrowers from their homes. But the company did little to correct the firms’ practices, according to a report issued Tuesday"...............READ MORE
Communist China: 'Pushing yuan bill risks trade war, won't help U.S. recovery'
from xinhuanet..........
"With chronic financial ailments and persistent high unemployment driving thousands of protesters to the streets in New York and 50 other cities, some U.S. lawmakers are, tediously, again trying to blame the Chinese currency instead of addressing the real reasons for the country's economic woes.
"With chronic financial ailments and persistent high unemployment driving thousands of protesters to the streets in New York and 50 other cities, some U.S. lawmakers are, tediously, again trying to blame the Chinese currency instead of addressing the real reasons for the country's economic woes.
After a procedural vote Monday, the U.S. Senate is expected to debate a bill which, if passed, will empower U.S. companies to seek retaliatory tariffs on goods imported from countries whose currencies they deem "undervalued."
If these U.S. politicians, who have been inculcating their constituents with the idea that appreciating the Chinese currency is the panacea for American unemployment, successfully push through the bill, their moves are very likely to backfire, ramping up possible waves of trade protectionism that would favor nobody"............READ MORE
'Is the War on Terror a Hoax?'
from paul craig roberts and infowars..........
"In the past decade, Washington has killed, maimed, dislocated, and made widows and orphans millions of Muslims in six countries, all in the name of the “war on terror.” Washington’s attacks on the countries constitute naked aggression and impact primarily civilian populations and infrastructure and, thereby, constitute war crimes under law. Nazis were executed precisely for what Washington is doing today.
"In the past decade, Washington has killed, maimed, dislocated, and made widows and orphans millions of Muslims in six countries, all in the name of the “war on terror.” Washington’s attacks on the countries constitute naked aggression and impact primarily civilian populations and infrastructure and, thereby, constitute war crimes under law. Nazis were executed precisely for what Washington is doing today.
Moreover the wars and military attacks have cost American taxpayers in out-of-pocket and already-incurred future costs at least $4,000 billion dollars – one third of the accumulated public debt – resulting in a US deficit crisis that threatens the social safety net, the value of the US dollar and its reserve currency role, while enriching beyond all previous history the military/security complex and its apologists"............READ MORE
'Antarctic oil sets up cold war'
from stuff.co.nz.........
"Construction of a startling new base on the Ross Sea coast will bring millions of dollars to Christchurch but raises questions over possible rival bids over New Zealand's potentially oil-rich Antarctic claim.
"Construction of a startling new base on the Ross Sea coast will bring millions of dollars to Christchurch but raises questions over possible rival bids over New Zealand's potentially oil-rich Antarctic claim.
South Korea, using a Lyttelton-based icebreaker, will next year begin building a $120 million base at Terra Nova Bay, 300km north of New Zealand's Scott Base'..........READ MORE
Monday, October 3, 2011
'BRIC nations push for bigger say in policing of Internet'
from globe and mail........
"Campaigners for a loosely regulated Internet are alarmed at the risk to Web freedom from fast-growing BRIC and other emerging economies seeking more say in how the online realm is policed.
"Campaigners for a loosely regulated Internet are alarmed at the risk to Web freedom from fast-growing BRIC and other emerging economies seeking more say in how the online realm is policed.
They fear tighter government control by authoritarian countries will strangle the liberal culture which has allowed the still-young Internet to thrive as an engine of economic growth and innovation"...........READ MORE
"Ralph Nader, Ron Paul, Kucinich & Chomsky: "End The Left-Right Delusion, Corporatism Is The TRUE Enemy"
from dailybail.com........ "Excellent short clip with comments from leaders across the political spectrum. Interesting that in the past week, Ralph Nader has announced his support for Ron Paul, who himself announced in a recent speech that he would consider Kucinich for his cabinet as Secretary of Peace. The brightest and best thinkers are starting to understand that corporate control over Washington and both parties is the real enemy, a point which Dylan Ratigan has been making for months"..........LINK
'Protectionism beckons as leaders push world into Depression'
from the telegraph..........
"Bank of England Governor Mervyn King called recently for a "grand bargain" of the world's major powers to break the vicious circle and ensure that the burden of adjustment does not fall on debtors alone.
"Bank of England Governor Mervyn King called recently for a "grand bargain" of the world's major powers to break the vicious circle and ensure that the burden of adjustment does not fall on debtors alone.
"The need to act in the collective interest has yet to be recognised. Unless it is, it will be only a matter of time before one or more countries resort to protectionism. That could, as in the 1930s, lead to a disastrous collapse in activity around the world," he said.
We are not there yet, but a global double-dip would take us to the edge. US democracy cannot allow America’s precious stimulus to leak out to countries that have bent their exchange rates, tax systems, and industrial structures towards predatory export advantage. It cannot let broad (U6) unemployment ratchet up to 20pc or more".............READ MORE
Photo Essay: Occupy Wall Street
from the atlantic......
In New York City's Financial District, hundreds of activists have been converging on Lower Manhattan over the past two weeks, protesting as part of an "Occupy Wall Street" movement. The protests are largely rallies against the influence of corporate money in politics, but participants' grievances also include frustrations with corporate greed, anger at financial and social inequality, and several other issues. Nearly 80 people were arrested last weekend in a series of incidents with the New York police as the protesters attempted to march uptown. Most are now camped out in nearby Zucotti Park. Demonstrations also took place yesterday in San Francisco, and an "Occupy Boston" protest is planned for tonight, September 30. Collected here are a handful of images of the protesters occupying Wall Street from the past two weeks. [35 photos]............VIEW PICS HERE
In New York City's Financial District, hundreds of activists have been converging on Lower Manhattan over the past two weeks, protesting as part of an "Occupy Wall Street" movement. The protests are largely rallies against the influence of corporate money in politics, but participants' grievances also include frustrations with corporate greed, anger at financial and social inequality, and several other issues. Nearly 80 people were arrested last weekend in a series of incidents with the New York police as the protesters attempted to march uptown. Most are now camped out in nearby Zucotti Park. Demonstrations also took place yesterday in San Francisco, and an "Occupy Boston" protest is planned for tonight, September 30. Collected here are a handful of images of the protesters occupying Wall Street from the past two weeks. [35 photos]............VIEW PICS HERE
'How Macau became a powerhouse (with a little help from Las Vegas)'
from vegasinc.........
''As Las Vegas companies began upping the ante, Casino Lisboa owner Stanley Ho knew he had to respond competitively. So he built a 58-story lotus-shaped tower — the tallest building in Macau.
That’s the way things have gone since 2004, when Sheldon Adelson’s Las Vegas Sands opened the first American-owned casino in Asia’s new Las Vegas: As Las Vegas companies build, local players respond with something new. Analysts said it was only a matter of time before Macau would begin generating more gaming revenue than Las Vegas and become the leading casino market in the world. Not only were the analysts right, they underestimated just how explosive the growth would be. Last year, Macau’s gaming revenue grew to $23.4 billion, dwarfing Nevada’s $10.4 billion for the year.
Now, Macau has a new goal: To unseat Las Vegas as the premier destination resort in the world, accommodating conventioneers and a growing Asian mass market as well as the notorious, high–rolling whales the region is famous for"..........READ MORE
''As Las Vegas companies began upping the ante, Casino Lisboa owner Stanley Ho knew he had to respond competitively. So he built a 58-story lotus-shaped tower — the tallest building in Macau.
That’s the way things have gone since 2004, when Sheldon Adelson’s Las Vegas Sands opened the first American-owned casino in Asia’s new Las Vegas: As Las Vegas companies build, local players respond with something new. Analysts said it was only a matter of time before Macau would begin generating more gaming revenue than Las Vegas and become the leading casino market in the world. Not only were the analysts right, they underestimated just how explosive the growth would be. Last year, Macau’s gaming revenue grew to $23.4 billion, dwarfing Nevada’s $10.4 billion for the year.
Now, Macau has a new goal: To unseat Las Vegas as the premier destination resort in the world, accommodating conventioneers and a growing Asian mass market as well as the notorious, high–rolling whales the region is famous for"..........READ MORE
"Eric Cantor's America"
from nymag.........
"Cantor’s role as Obama’s nemesis, as the National Review recently dubbed him, is remarkable for several reasons—none more so than the fact that, although he’s now the darling of the tea party, he initially rose to power in Washington by standing for almost everything the tea party is against. Elected to Congress in 2000, right as House Republicans were entering their Caligula phase, Cantor was soon tapped by Roy Blunt, the House majority whip at the time, to serve as his chief deputy. According to a former Republican congressman, Cantor was given a seat at the GOP leadership table on the advice of Blunt’s then-girlfriend, now-wife, who was a Philip Morris lobbyist and who appreciated the fact that Cantor is Jewish. “Abigail was Jewish, and she understood the implications for fund-raising,” the former congressman says. “Eric had access to donors we didn’t typically have access to.”
"Cantor’s role as Obama’s nemesis, as the National Review recently dubbed him, is remarkable for several reasons—none more so than the fact that, although he’s now the darling of the tea party, he initially rose to power in Washington by standing for almost everything the tea party is against. Elected to Congress in 2000, right as House Republicans were entering their Caligula phase, Cantor was soon tapped by Roy Blunt, the House majority whip at the time, to serve as his chief deputy. According to a former Republican congressman, Cantor was given a seat at the GOP leadership table on the advice of Blunt’s then-girlfriend, now-wife, who was a Philip Morris lobbyist and who appreciated the fact that Cantor is Jewish. “Abigail was Jewish, and she understood the implications for fund-raising,” the former congressman says. “Eric had access to donors we didn’t typically have access to.”
Cantor’s primary job as a member of the whip operation was to cajole his fellow Republican congressmen into voting for many of the bills the tea-partiers now decry as the height of fiscal irresponsibility —including, most infamously, the 2003 Medicare prescription-drug legislation, for which he worked hand in hand with pharmaceutical-industry lobbyists and Karl Rove. “There were some of us who certainly wanted him to play a more forceful role there in fighting against that legislation rather than for it,” recalls Jeff Flake, an Arizona congressman and Cantor ally who was one of 25 House Republicans to vote against the bill"..............READ MORE
"Ron Paul Talks About the Occupy Wall Street Protests and the "militarization of our police force"
from oct 1..........from reason mag..........
"On Friday, after Rep. Ron Paul (R-Texas) concluded a town hall-style meeting at an old folks' home in Concord, New Hampshire, I asked him what he made of the ongoing Occupy Wall Street protests, which have included a noticeable contingency of Paul supporters. On Thursday night, for example, a group of young men assembled at Liberty Plaza in Lower Manhattan were wielding anti-Federal Reserve placards and promoting Paul's presidential campaign.
"On Friday, after Rep. Ron Paul (R-Texas) concluded a town hall-style meeting at an old folks' home in Concord, New Hampshire, I asked him what he made of the ongoing Occupy Wall Street protests, which have included a noticeable contingency of Paul supporters. On Thursday night, for example, a group of young men assembled at Liberty Plaza in Lower Manhattan were wielding anti-Federal Reserve placards and promoting Paul's presidential campaign.
"If they were demonstrating peacefully," Paul told me, "and making a point, and arguing our case, and drawing attention to the Fed–I would say, good!"
I asked Paul if he was aware of the much-publicized incident from last weekend in which Deputy Inspector Anthony Bologna, a high-ranking official in the New York Police Department, was captured on video pepper-spraying nonviolent protesters without provocation.
"I hadn't heard that, since I have to admit I didn't keep up on all the details of it," Paul said, sounding concerned. "I didn't read the stories about it. But that means government doesn't like to be receiving any criticism at all. And my argument is, government should be in the open–the people's privacy ought to be protected. So I don't like it"..............READ MORE
'US banks could face new source of mortgage losses'
from reuters....
"A federal housing insurance program may be forced to deny bank claims for money lost in home loan foreclosures, costing them another $13.5 billion in mortgage-related losses, according to a report on Monday from bank analyst Paul Miller of FBR Capital Markets.
"A federal housing insurance program may be forced to deny bank claims for money lost in home loan foreclosures, costing them another $13.5 billion in mortgage-related losses, according to a report on Monday from bank analyst Paul Miller of FBR Capital Markets.
'Want the inside scoop on the supercommittee? Ask a lobbyist'
this country is run by sociopaths...............from politico.........
"Reporters and government watchdog groups are up in arms over the secrecy surrounding the committee, tasked with cutting at least $1.2 trillion from the nation’s deficit, which has met more frequently in secret than publicly and has rejected calls to disclose its donors and post its documents online
"Reporters and government watchdog groups are up in arms over the secrecy surrounding the committee, tasked with cutting at least $1.2 trillion from the nation’s deficit, which has met more frequently in secret than publicly and has rejected calls to disclose its donors and post its documents online
But some of Washington’s highest-paid lobbyists aren’t sweating it.
K Streeters with deep ties to supercommittee members and congressional leadership say senior staffers have given them readouts from closed-door committee meetings. For example, senior aides to Senate Minority Leader Mitch McConnell (R-Ky.) and Sen. Jon Kyl (R-Ariz.), who is on the panel, met with several Republican lobbyists on Thursday and among the topics discussed was the prospect for a grand deal. Two days earlier, Kyl and the rest of the committee answered no questions as they brushed past a gaggle of reporters who had waited outside the private, six-hour meeting"..............READ MORE
Debt Jubilee
from reuters.........
"More than three years after the financial crisis struck, the economy remains stuck in a consumer debt trap. It's a situation that could take years to correct itself. That's why some economists are calling for a radical step: massive debt relief".
"Tens of millions of citizens remain burdened with mortgages they can no longer afford, in addition to soaring credit card bills and sky high student loans. Trillions of dollars in outstanding consumer debt is stifling demand for goods and services and that's one reason economists say cash-rich U.S. companies are reluctant to hire and unemployment remains stubbornly high"..............READ MORE
"More than three years after the financial crisis struck, the economy remains stuck in a consumer debt trap. It's a situation that could take years to correct itself. That's why some economists are calling for a radical step: massive debt relief".
"Tens of millions of citizens remain burdened with mortgages they can no longer afford, in addition to soaring credit card bills and sky high student loans. Trillions of dollars in outstanding consumer debt is stifling demand for goods and services and that's one reason economists say cash-rich U.S. companies are reluctant to hire and unemployment remains stubbornly high"..............READ MORE
'Koch Brothers Flout Law With Secret Iran Sales'
from bloomberg.........
"Koch-Glitsch is part of a global empire run by billionaire brothers Charles and David Koch, who have taken a small oil company they inherited from their father, Fred, after his death in 1967, and built it into a chemical, textile, trading and refining conglomerate spanning more than 50 countries.
"Koch-Glitsch is part of a global empire run by billionaire brothers Charles and David Koch, who have taken a small oil company they inherited from their father, Fred, after his death in 1967, and built it into a chemical, textile, trading and refining conglomerate spanning more than 50 countries.
Koch Industries is obsessed with secrecy, to the point that it discloses only an approximation of its annual revenue -- $100 billion a year -- and says nothing about its profits"...........READ MORE
South Korea: "National debt set to keep climbing"
from koreajoongangdaily..........
"Amid concerns about household borrowing and rising inflationary pressure, ballooning national debt is shaping up as the next big headache for Korean taxpayers.
The Ministry of Strategy and Finance yesterday released a report indicating that national debt will likely climb 25 trillion won ($21.2 billion), or 6 percent, next year to 448.2 trillion won"..............READ MORE
"Amid concerns about household borrowing and rising inflationary pressure, ballooning national debt is shaping up as the next big headache for Korean taxpayers.
The Ministry of Strategy and Finance yesterday released a report indicating that national debt will likely climb 25 trillion won ($21.2 billion), or 6 percent, next year to 448.2 trillion won"..............READ MORE
"Communist China has proven its willingness to arm Africa's dictators - even when it votes against such actions at the UN''
from aljazeera.........
"As Libya's National Transitional Council attempts to establish a functioning government for a newly liberated country, the truth about what went on under Muammar Gaddafi's regime is starting to come to light. Various treasures have been unearthed from Tripoli mansions that were hastily vacated by their owners, and what happened to the tortured, the murdered, and the missing is beginning to be revealed.
So, too, are some of Gaddafi's dirtiest diplomatic secrets being exposed. On September 2, the Canadian newspaperThe Globe and Mail reported on recent negotiations between the embattled Gaddafi regime and Chinese armaments companies - with direct ties to China's government - for contracts worth $200 million"...........READ MORE
"As Libya's National Transitional Council attempts to establish a functioning government for a newly liberated country, the truth about what went on under Muammar Gaddafi's regime is starting to come to light. Various treasures have been unearthed from Tripoli mansions that were hastily vacated by their owners, and what happened to the tortured, the murdered, and the missing is beginning to be revealed.
So, too, are some of Gaddafi's dirtiest diplomatic secrets being exposed. On September 2, the Canadian newspaperThe Globe and Mail reported on recent negotiations between the embattled Gaddafi regime and Chinese armaments companies - with direct ties to China's government - for contracts worth $200 million"...........READ MORE
'Dreaded militant hit squad goes rogue in Pakistan'
from alarabiya.........
"A blindfolded man stands on explosives, trembling as he confesses to spying for the CIA in Pakistan. Armed men in black balaclavas slowly back away. Then he is blown up.
One of his executioners – members of an elite militant hit squad – zooms a camera in on his severed head and body parts for a video later distributed in street markets as a warning.
Al-Qaeda, the Pakistani Taliban and the Haqqani network – blamed for a September 13 attack on the U.S. embassy in Kabul – picked the most ruthless fighters from their ranks in 2009 to form the Khurasan unit, for a special mission"............READ MORE
"A blindfolded man stands on explosives, trembling as he confesses to spying for the CIA in Pakistan. Armed men in black balaclavas slowly back away. Then he is blown up.
One of his executioners – members of an elite militant hit squad – zooms a camera in on his severed head and body parts for a video later distributed in street markets as a warning.
Al-Qaeda, the Pakistani Taliban and the Haqqani network – blamed for a September 13 attack on the U.S. embassy in Kabul – picked the most ruthless fighters from their ranks in 2009 to form the Khurasan unit, for a special mission"............READ MORE
'Cuba gives green light to buying, selling cars'
from theglobeandmail.......
............."a sweeping new decree that goes into effect Saturday enabling Cubans to own post-revolution vehicles is poised to radically transform the car market – and the streets of this Communist country, famous for its iconic vintage automobiles.
............."a sweeping new decree that goes into effect Saturday enabling Cubans to own post-revolution vehicles is poised to radically transform the car market – and the streets of this Communist country, famous for its iconic vintage automobiles.
The new rules mean average Cubans now have the choice of trading in their older cars for newer models, such as Russian Ladas or Asian-made Hondas, which were illegal for most to purchase until now".................READ MORE
'Budget cuts are slowing down U.S. courts'
no justice for americans as we gotta maintain those 227 military bases in germany............from cbsnews.......
"State legislatures looking to cut budgets are increasingly targeting the courts, which have been forced to lay off thousands of staff workers.
"State legislatures looking to cut budgets are increasingly targeting the courts, which have been forced to lay off thousands of staff workers.
CBS News correspondent Jim Axelrod reports that with state courts handling more than 40 million cases a year, the result is often gridlock"..............READ MORE
Sunday, October 2, 2011
'Bush talked about a war on terror, but Obama acted'
from haaretz..........
"Shortly after September 11, former U.S. President George Bush decreed a “global war on terror." But the American leader who actually took this war to impressive fruition was not the Republican champion of the axis of evil, but rather his Democrat successor Barack Obama.
On Friday, during an expertly planned mission based on accurate and cutting-edge data the CIA assassinated the Yemeni-American al-Qaida leader Anwar al-Awlaki using a drone aircraft. Al-Awlaki was a spiritual leader and responsible for many of al-Qaida’s missions in the Arabian Peninsula".................READ MORE
"Shortly after September 11, former U.S. President George Bush decreed a “global war on terror." But the American leader who actually took this war to impressive fruition was not the Republican champion of the axis of evil, but rather his Democrat successor Barack Obama.
On Friday, during an expertly planned mission based on accurate and cutting-edge data the CIA assassinated the Yemeni-American al-Qaida leader Anwar al-Awlaki using a drone aircraft. Al-Awlaki was a spiritual leader and responsible for many of al-Qaida’s missions in the Arabian Peninsula".................READ MORE
'Central banking post-crisis: What compass for uncharted waters?'
turn yourselves in now................admit your sins and may god have mercy on your souls............from bis.org..........
"The global financial crisis has shaken the foundations of the deceptively comfortable pre-crisis central banking world. Central banks face a threefold challenge: economic, intellectual and institutional. This essay puts forward a compass to help central banks sail in the largely uncharted waters ahead. The compass is based on tighter integration of the monetary and financial stability functions, keener awareness of the global dimensions of those tasks, and stronger safeguards for an increasingly vulnerable central bank operational independence"..........READ MORE
"The global financial crisis has shaken the foundations of the deceptively comfortable pre-crisis central banking world. Central banks face a threefold challenge: economic, intellectual and institutional. This essay puts forward a compass to help central banks sail in the largely uncharted waters ahead. The compass is based on tighter integration of the monetary and financial stability functions, keener awareness of the global dimensions of those tasks, and stronger safeguards for an increasingly vulnerable central bank operational independence"..........READ MORE
"The Ugly Side Of Exponents"
from "the market ticker"..........
"To bring the ponzi under control now we must cut federal spending ("G" again) by some 43%, or about 2.4 times as much as we had to in 2007. We also must accept a contraction in GDP that is almost four times greater than we had to in 2007.
Now let's add some other ugly -- very ugly -- facts.
"To bring the ponzi under control now we must cut federal spending ("G" again) by some 43%, or about 2.4 times as much as we had to in 2007. We also must accept a contraction in GDP that is almost four times greater than we had to in 2007.
Now let's add some other ugly -- very ugly -- facts.
- Despite the financial crisis of 2008 banks have not been forced to stop lying about asset values -- and not just here in the United States. Morgan Stanley has its stock price under attack as nobody believes their balance sheet. Worse, European banks havebeen doing the same thing with sovereign debt and we have no idea what the interdependency is between their institutions and ours. That is, the sovereign Ponzi finance game is being "covered up" by banks claiming values that do not represent reality on theirbalance sheets"..............READ MORE
'Eurozone teeters on the verge of a 'euroquake' if Greek default is bungled'
from the telegraph.........
"More than one in three international investors expect a global economic meltdown within the next 12 months, according to a new Bloomberg poll. Far more - almost 70pc - say the world economy is deteriorating, up from just 18pc four months ago"............READ MORE
'Italy: Over one-quarter of young people still out of work'
from adnkronos........
"A total 27.6 percent of young people were unemployed in August, a rate almost unchanged from 27.9 percent in July, central statistics agency Istat said Friday"..........READ MORE
"A total 27.6 percent of young people were unemployed in August, a rate almost unchanged from 27.9 percent in July, central statistics agency Istat said Friday"..........READ MORE
Nevada: "New law should give homeowners greater assurance against Bankster abuses"
from las vegas sun........
"Nevada has been at the epicenter of the nation’s foreclosure crisis, and it has also seen a rash of foreclosure fraud. Cortez Masto said her office has seen several cases in which forged, incomplete or false documents were allegedly used, allowing financial institutions to take homes away from the people who had bought them"....................READ MORE
"Nevada has been at the epicenter of the nation’s foreclosure crisis, and it has also seen a rash of foreclosure fraud. Cortez Masto said her office has seen several cases in which forged, incomplete or false documents were allegedly used, allowing financial institutions to take homes away from the people who had bought them"....................READ MORE
"Comminist China’s Real Estate Market Running out of Steam"
from epoch times........
"Andy Xie, former Morgan Stanley “star” chief Asia-Pacific economist, has been warning about a real estate bubble in China since 2002 and predicted that China's real estate market will collapse in 2012.
All the conditions for a real estate collapse in China seem to be in place: there’s a glut of unsold homes, prices are ski-high, andmoney supply is tight"..............READ MORE
"Andy Xie, former Morgan Stanley “star” chief Asia-Pacific economist, has been warning about a real estate bubble in China since 2002 and predicted that China's real estate market will collapse in 2012.
All the conditions for a real estate collapse in China seem to be in place: there’s a glut of unsold homes, prices are ski-high, andmoney supply is tight"..............READ MORE
Book Review: "Once Upon a Car"
a must read book review............from nytimes........
"If General Motors were any other company, it would probably be dead by now. In the summer of 2008, nearly a year before G.M. filed for bankruptcy, its executives were growing desperate. Rick Wagoner, its chief executive, secretly proposed a merger with Ford, while Bill Ford courted the future president, Barack Obama, in an attempt to safeguard his company
This article is adapted from “Once Upon a Car: The Fall and Resurrection of America’s Big Three Automakers — G.M., Ford and Chrysler” by Bill Vlasic, the Detroit bureau chief of The New York Times. The book, to be published Tuesday by William Morrow, reveals new details of the chaos at the Big Three"..............READ MORE
"If General Motors were any other company, it would probably be dead by now. In the summer of 2008, nearly a year before G.M. filed for bankruptcy, its executives were growing desperate. Rick Wagoner, its chief executive, secretly proposed a merger with Ford, while Bill Ford courted the future president, Barack Obama, in an attempt to safeguard his company
This article is adapted from “Once Upon a Car: The Fall and Resurrection of America’s Big Three Automakers — G.M., Ford and Chrysler” by Bill Vlasic, the Detroit bureau chief of The New York Times. The book, to be published Tuesday by William Morrow, reveals new details of the chaos at the Big Three"..............READ MORE
'How Big Business Influences The Super Committee Members'
from 247wallst........
"Twelve members of Congress have been tasked with producing legislation to cut up to $1.5 trillion out of the federal budget over the next decade. Like all politicians who rely on donations from their constituency, the twelve are beholden to local interests. These interests can influence the impartiality of their decisions if they put local interests ahead of national ones. 24/7 Wall St. has reviewed the members’ voting records, the bills they introduced and the contributions they received to see how their legislative actions correlate with the interests of their top monetary contributors".............READ MORE
"Twelve members of Congress have been tasked with producing legislation to cut up to $1.5 trillion out of the federal budget over the next decade. Like all politicians who rely on donations from their constituency, the twelve are beholden to local interests. These interests can influence the impartiality of their decisions if they put local interests ahead of national ones. 24/7 Wall St. has reviewed the members’ voting records, the bills they introduced and the contributions they received to see how their legislative actions correlate with the interests of their top monetary contributors".............READ MORE
'Citigroup faces regulatory scrutiny in Japan'
from reuters.........
"Japan's Financial Services Agency (FSA) is probing whether Citigroup failed to offer sufficient explanations to customers about investment trusts, which are similar to mutual funds in the U.S., and other financial products, the source said.
"Japan's Financial Services Agency (FSA) is probing whether Citigroup failed to offer sufficient explanations to customers about investment trusts, which are similar to mutual funds in the U.S., and other financial products, the source said.
Sanctions would come as a fresh blow to Citigroup, which had its name tarnished in Japan in 2004 when regulators forced it to close its private banking business due to lax controls in the prevention of money laundering.
It was punished again in 2009 for the same violation and forced to suspend retail bank marketing activities for a month"...............READ MORE
'Russian agents responsible for Chechen killings in Istanbul, report claims'
the russians are coming, the russians are coming..........from hurriyetdailynews.............
"A Russian strike team of eight agents was responsible for the killing of three Chechens in Istanbul on Sept. 16, according to a special report by daily Habertürk reporter Mustafa Şekeroğlu.
"A Russian strike team of eight agents was responsible for the killing of three Chechens in Istanbul on Sept. 16, according to a special report by daily Habertürk reporter Mustafa Şekeroğlu.
Three Chechens were gunned down execution-style in broad daylight in Istanbul in September, leading to speculations that Russian agents were behind the killings"..........READ MORE
Saturday, October 1, 2011
'Bank trade group spends $2.36 Million lobbying in 2Q'
gotta get the money outta politics..........from bloomberg..........
"The broadest trade group representing U.S. banks spent $2.36 million in the second quarter lobbying the federal government to slow down or weaken key parts of a financial overhaul law passed last summer.
"The broadest trade group representing U.S. banks spent $2.36 million in the second quarter lobbying the federal government to slow down or weaken key parts of a financial overhaul law passed last summer.
That's in line with the $2.36 million that the American Bankers Association spent lobbying in the year-ago period, but up from the $2.02 million it spent in the first quarter".........READ MORE
Hannity calls wall street protester "Marxist"..........
says "they dont believe in freedom".............unfrickenbelieveable...........hannity's large salary comes from large multi-national companies intent on maintaining the status quo.............
from think progress.........
'Forget The Big Banks, BankSimple Will Provide The Same Services Without Screwing You Over'
an alternative to big, wall street, money center, insolvent banks..........from singularity hub........
"Overdraft penalties, hidden charges, ATM fees – mainstream banks have come up with a myriad of ways for separating you from your money. BankSimple not only wants to put an end to the leaching, they want to help you manage your cash in the easiest, most straight forward way possible. The (soon to be) Portland-based startup represents a new kind of retail account for your money. Instead of brick and mortar banks, everything is done online or via a smart phone app. Instead of dealing directly with checking and savings accounts, you just tell BankSimple your goals, and they manage your money for you. Best of all, there are no hidden fees. Take a sneak peek at their online interface in the video below. With 70,000 people signed up for a chance to join their beta, BankSimple is hoping to make a big splash on the retail banking market in late 2011/early 2012, and has $13 million+ in funding propelling them forward. Can a web-based bank really change the way Americans manage their money? I talked with CEO Joshua Reich, and it sounds like BankSimple is going to find the answer soon".............READ MORE
"Overdraft penalties, hidden charges, ATM fees – mainstream banks have come up with a myriad of ways for separating you from your money. BankSimple not only wants to put an end to the leaching, they want to help you manage your cash in the easiest, most straight forward way possible. The (soon to be) Portland-based startup represents a new kind of retail account for your money. Instead of brick and mortar banks, everything is done online or via a smart phone app. Instead of dealing directly with checking and savings accounts, you just tell BankSimple your goals, and they manage your money for you. Best of all, there are no hidden fees. Take a sneak peek at their online interface in the video below. With 70,000 people signed up for a chance to join their beta, BankSimple is hoping to make a big splash on the retail banking market in late 2011/early 2012, and has $13 million+ in funding propelling them forward. Can a web-based bank really change the way Americans manage their money? I talked with CEO Joshua Reich, and it sounds like BankSimple is going to find the answer soon".............READ MORE
'Hong Kong's Dirty Little Secret'
Hidden amid the multi-million dollar high-rise apartments and chic shopping malls of Hong Kong’s urban centers are scores of tiny, unseen tenements — some no bigger than coffins — that many people call home.
Mak, 72, has lived in his four-walled “coffin home” overlooking the city’s Wan Chai neighborhood for the past decade. His entire living space is no bigger than a twin-sized bed, and has just enough room for him to sit up"
'Get Money Out of Politics! Sign the Petition! Dylan Ratigan Federal Amendment. 9/28/11'
from dylan ratigan.com.........
'Karzai trapped in no-man's land'
from asia times online.........
"Afghan President Hamid Karzai has made his first political move a week after the assassination of the head of the Afghan High Peace Council and former president, Burhanuddin Rabbani.
Following a meeting in Kabul that included tribal elders, legislative chairmen, cabinet ministers, former mujahideen commanders and his two vice presidents, Karzai's office issued a statement on Wednesday admitting that a question mark should be on the Taliban's capacity to take independent decisions, implying they were merely a Pakistani proxy"..............READ MORE
"Afghan President Hamid Karzai has made his first political move a week after the assassination of the head of the Afghan High Peace Council and former president, Burhanuddin Rabbani.
Following a meeting in Kabul that included tribal elders, legislative chairmen, cabinet ministers, former mujahideen commanders and his two vice presidents, Karzai's office issued a statement on Wednesday admitting that a question mark should be on the Taliban's capacity to take independent decisions, implying they were merely a Pakistani proxy"..............READ MORE
'Corporations Couldn’t Wait to ‘Check the Box’ on Huge Tax Break'
from propublica...........
"A simple rule meant to cut paperwork for U.S. companies has grown into one of the biggest multinational tax breaks around, costing the United States and other governments billions of dollars in lost taxes each year.
"A simple rule meant to cut paperwork for U.S. companies has grown into one of the biggest multinational tax breaks around, costing the United States and other governments billions of dollars in lost taxes each year.
It thrives thanks to determined business support, including a campaign two years ago that forced the Obama administration to retreat from altering it and tax professionals worldwide who exploit its benefits.
The rule is dubbed “check-the-box.” It allows U.S. companies to strip profits from operations in high-tax countries simply by marking an Internal Revenue Service form that transforms subsidiaries into what the agency calls a “disregarded entity.” Others have labeled them “tax nothings”..............READ MORE
'Recession Just Around the Corner Says ECRI'
from 247wallst........
"If you believe things are bad now, just wait because they’re about to get much worse. That’s the forecast from the Economic Cycle Research Institute (ECRI).
"If you believe things are bad now, just wait because they’re about to get much worse. That’s the forecast from the Economic Cycle Research Institute (ECRI).
In their latest report, the firm says that a second recession is coming and that “there’s nothing that policy makers can do to head it off.” ECRI also notes that reliable indicators of recession are now “collectively behaving as they did on the cusp of full-blown recessions”.............READ MORE
Friday, September 30, 2011
'Chanos calls China syndrome'
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
"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
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