From Al Arabiya
''A Russian cargo ship loaded with weapons is en route to Syria and due to arrive at a Syrian port this weekend, Al Arabiya reported. Western diplomats in New York on Friday described the report as credible.
Syria is one of Russia’s top weapons customers. The United States and European Union have suggested the U.N. Security Council should impose an arms embargo and other U.N. sanctions on Syria for its 14-month assault on a pro-democracy opposition determined to oust Syrian President Bashar al-Assad.''
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Saturday, May 26, 2012
Syria: ''The Road to War Continues''
From Foreign Policy Journal
''It has been revealed in recent days that the US and Turkey are in fact aiding the Syrian rebels and that the push for intervention is growing. It is important to realize the affects of this not only in Syria, but also for that of Iran and Russia, two of the most prominent and vocal backers of the Assad regime.
The Washington Post stated recently that the Syrian rebels “have begun receiving significantly more and better weapons in recent weeks, an effort paid for by Persian Gulf nations and coordinated in part by the United States, according to opposition activists and U.S. and foreign officials.''
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''It has been revealed in recent days that the US and Turkey are in fact aiding the Syrian rebels and that the push for intervention is growing. It is important to realize the affects of this not only in Syria, but also for that of Iran and Russia, two of the most prominent and vocal backers of the Assad regime.
The Washington Post stated recently that the Syrian rebels “have begun receiving significantly more and better weapons in recent weeks, an effort paid for by Persian Gulf nations and coordinated in part by the United States, according to opposition activists and U.S. and foreign officials.''
read more
''The Waltz of the Zombie Banks''
From Counter Punch
By Mike Whitney
''The banks are keeping houses off the market to trick people into believing that prices have hit bottom. But prices haven’t hit bottom, in fact, they still have a long way to go. So, what’s going on here; what do the banks hope to gain by withholding supply?
The banks want to make it appear as though prices have stabilized, because, once they stabilize, then potential buyers will emerge from their bunkers and go on another spending spree. That, in turn, will allow the banks to offload more of their distressed properties at minimal cost. That’s why they’re withholding supply, because it increases demand and buoys prices. But, keep in mind, that “existing inventory” only represents a small portion of the total number of homes that will eventually need to be sold, so analysts who make their calculations based on that number are grossly understating the size of the problem.''
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By Mike Whitney
''The banks are keeping houses off the market to trick people into believing that prices have hit bottom. But prices haven’t hit bottom, in fact, they still have a long way to go. So, what’s going on here; what do the banks hope to gain by withholding supply?
The banks want to make it appear as though prices have stabilized, because, once they stabilize, then potential buyers will emerge from their bunkers and go on another spending spree. That, in turn, will allow the banks to offload more of their distressed properties at minimal cost. That’s why they’re withholding supply, because it increases demand and buoys prices. But, keep in mind, that “existing inventory” only represents a small portion of the total number of homes that will eventually need to be sold, so analysts who make their calculations based on that number are grossly understating the size of the problem.''
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''The Looting of Nigeria: BIG OIL’s $140 Billion A Year and Counting''
From Foreign Policy Journal
''As western oil companies loot some $140 billion a year of Nigeria’s black gold, two thirds of the country’s 100 million people live on less than $2 a day.
Nigeria’s “official” oil production figures show about 3 million barrels a day being pumped from their oil fields into the holds of western tankers, though for decades now informed observers have estimated up to one third of all Nigerian oil is actually “stolen”, secretly loaded onto oil tankers after bribes are paid to corrupt government officials.''
''MidEast growth seen at 3.8% in 2012 on oil price''
From Arabian Business
''The report, produced by ICAEW's economics partner Cebr (Centre for Economic and Business Research), said earlier forecasts for Middle East economies were conservative as a result of the volatility in the Eurozone and slowing global economic activity at the end of 2011.
"While uncertainty in the Eurozone remains, money printing by Western central banks has contributed to higher oil prices than previously expected, providing a fillip to the Middle East," it said.''
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''The report, produced by ICAEW's economics partner Cebr (Centre for Economic and Business Research), said earlier forecasts for Middle East economies were conservative as a result of the volatility in the Eurozone and slowing global economic activity at the end of 2011.
"While uncertainty in the Eurozone remains, money printing by Western central banks has contributed to higher oil prices than previously expected, providing a fillip to the Middle East," it said.''
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''Egypt’s Brotherhood warns ‘nation in danger’ as Mursi faces Shafiq in run-off''
From Al Arabiya
''Egyptians must choose between a Muslim Brother or an ex-military man in a presidential run-off that highlights the stark rifts in a nation united in euphoria when Hosni Mubarak fell 15 months ago, first-round results indicated on Friday.''
''The Muslim Brotherhood warned that the “nation is in danger” if ex-premier Shafiq wins the presidency.''
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''Egyptians must choose between a Muslim Brother or an ex-military man in a presidential run-off that highlights the stark rifts in a nation united in euphoria when Hosni Mubarak fell 15 months ago, first-round results indicated on Friday.''
''The Muslim Brotherhood warned that the “nation is in danger” if ex-premier Shafiq wins the presidency.''
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''Egyptian election results present ''nightmare scenario''
From The Guardian
''In what many described as a "nightmare scenario" that will mean a polarised and possibly violent second round, Mohammed Morsi of the Brotherhood's Freedom and Justice Party polled around 26% in the two-day first round. Ahmed Shafiq, Mubarak's last prime minister, came second with 23% when 90% of the votes had been counted.''
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''In what many described as a "nightmare scenario" that will mean a polarised and possibly violent second round, Mohammed Morsi of the Brotherhood's Freedom and Justice Party polled around 26% in the two-day first round. Ahmed Shafiq, Mubarak's last prime minister, came second with 23% when 90% of the votes had been counted.''
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''Cyprus may need EU bailout''
From Ekathimerini
''Nicosia could soon seek help from the European support mechanism, but without having to adhere to the strict conditions imposed on other troubled eurozone members, according to the island’s finance minister.''
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''Nicosia could soon seek help from the European support mechanism, but without having to adhere to the strict conditions imposed on other troubled eurozone members, according to the island’s finance minister.''
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Pat Buchanan: ''The Unraveling Myth of Watergate''
From Pat Buchanan
''Watergate … (has) achieved a place in history … that it really doesn’t deserve. … The crime itself was really not a great deal. Had it not been for the Nixon resignation, it really would have been a blip in history.”
“The Iran-Contra hearing was a much more significant violation of the democratic ethic than anything in Watergate,” said Bradlee.''
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''Watergate … (has) achieved a place in history … that it really doesn’t deserve. … The crime itself was really not a great deal. Had it not been for the Nixon resignation, it really would have been a blip in history.”
“The Iran-Contra hearing was a much more significant violation of the democratic ethic than anything in Watergate,” said Bradlee.''
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Friday, May 25, 2012
''Former Bailout Watchdog Neil Barofsky to Release Tell-All Account Of Bush/Obama Administration Banking Policies''
From Naked Capitalism
''Neil Barofsky, a former official who actually put bankers in jail (imagine that!) is coming out with a tell-all book called “Bailout” about his experience as the Special Inspector General for TARP. I don’t normally put up press releases, but this book will be upsetting to the administration because this is someone who was involved in the decisions, and Barofsky did not play ball with the Wall Street crowd.''
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''Neil Barofsky, a former official who actually put bankers in jail (imagine that!) is coming out with a tell-all book called “Bailout” about his experience as the Special Inspector General for TARP. I don’t normally put up press releases, but this book will be upsetting to the administration because this is someone who was involved in the decisions, and Barofsky did not play ball with the Wall Street crowd.''
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Barry Eichengreen: ''Exoritant Priviledge''
From Berkeleyside
''One of nine East Bay authors who will be honored at the Northern California Book Awards ceremony in San Francisco next month, Eichengreen has written and edited many scholarly books geared to specialists in his field. But the recent economic crisis left him feeling obliged to offer an explanation to people at large, rather than just his colleagues in academia. The result was Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System, which the Financial Times calls, “A rare combination of macroeconomic mastery, historical erudition, good political instincts and the sort of stubborn common sense that is constantly placing familiar problems in a new light.''
''In Exorbitant Privilege, Eichengreen starts with wampum and proceeds to remind us that the U.S. dollar has risen to its dominant position globally only within the last two generations. Siding with those who think regulation is necessary to rein in banks, he lucidly explains how U.S. monetary policy “fanned the flames” of the global housing crisis. Now that toxic financial instruments rank among America’s most well known exports— and with the euro facing the challenges of a currency without a country — the Chinese renminbi may soon inherit the dollar’s privileged status.''
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''One of nine East Bay authors who will be honored at the Northern California Book Awards ceremony in San Francisco next month, Eichengreen has written and edited many scholarly books geared to specialists in his field. But the recent economic crisis left him feeling obliged to offer an explanation to people at large, rather than just his colleagues in academia. The result was Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System, which the Financial Times calls, “A rare combination of macroeconomic mastery, historical erudition, good political instincts and the sort of stubborn common sense that is constantly placing familiar problems in a new light.''
''In Exorbitant Privilege, Eichengreen starts with wampum and proceeds to remind us that the U.S. dollar has risen to its dominant position globally only within the last two generations. Siding with those who think regulation is necessary to rein in banks, he lucidly explains how U.S. monetary policy “fanned the flames” of the global housing crisis. Now that toxic financial instruments rank among America’s most well known exports— and with the euro facing the challenges of a currency without a country — the Chinese renminbi may soon inherit the dollar’s privileged status.''
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Pepe Escobar: "Iran and Europe, 'till death do us part''
From Asia Times Online
''So the grand Barack Obama administration foreign policy strategy of trying to square the circle between an Iranian nuclear deal and getting the eurozone economy back on the road slouches towards ... what exactly?
Not even Zeus knows. At least what was on the table this week in both Baghdad and Brussels has kept the ball rolling further on down the road in Moscow and Paris/Berlin.''
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''So the grand Barack Obama administration foreign policy strategy of trying to square the circle between an Iranian nuclear deal and getting the eurozone economy back on the road slouches towards ... what exactly?
Not even Zeus knows. At least what was on the table this week in both Baghdad and Brussels has kept the ball rolling further on down the road in Moscow and Paris/Berlin.''
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''The NATO/UN Army: Perpetual War … and Bankruptcy for U.S.''
From New American
''NATO, impressive on paper, with its 28 member states and an additional 22 countries in its Partnership for Peace, is totally dependent on U.S. funding and U.S. military equipment and manpower. America’s foreign policy elites, as exemplified most especially by the Council on Foreign Relations (CFR), have been laboring for decades to empower the United Nations with its own global military, one that could carry out UN mandates without having to seek ad hoc military coalitions from often-reluctant member states. For the past two decades, NATO has increasingly filled this role: in Bosnia-Herzegovina, Kosovo, Iraq, Afghanistan, the Gulf of Aden, Libya.''
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''NATO, impressive on paper, with its 28 member states and an additional 22 countries in its Partnership for Peace, is totally dependent on U.S. funding and U.S. military equipment and manpower. America’s foreign policy elites, as exemplified most especially by the Council on Foreign Relations (CFR), have been laboring for decades to empower the United Nations with its own global military, one that could carry out UN mandates without having to seek ad hoc military coalitions from often-reluctant member states. For the past two decades, NATO has increasingly filled this role: in Bosnia-Herzegovina, Kosovo, Iraq, Afghanistan, the Gulf of Aden, Libya.''
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''Israel steps up security ties with China''
how much money do we give to israel every year????...............From AP via Boston.com
''After a prolonged chill, security ties between Israel and China are warming up.
With Israel offering much-needed technical expertise and China representing a huge new market and influential voice in the international debate over Iran's nuclear program, the two nations have stepped up military cooperation as they patch up a rift caused by a pair of failed arms deals scuttled by the U.S.
The improved ties have been highlighted by this week's visit to Beijing by Israel's military chief and a training mission to Israel by the Chinese paramilitary force that, among other things, polices the restive Tibetan and Muslim Uighur regions. Prime Minister Benjamin Netanyahu is expected to travel to China in the coming weeks.''
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''After a prolonged chill, security ties between Israel and China are warming up.
With Israel offering much-needed technical expertise and China representing a huge new market and influential voice in the international debate over Iran's nuclear program, the two nations have stepped up military cooperation as they patch up a rift caused by a pair of failed arms deals scuttled by the U.S.
The improved ties have been highlighted by this week's visit to Beijing by Israel's military chief and a training mission to Israel by the Chinese paramilitary force that, among other things, polices the restive Tibetan and Muslim Uighur regions. Prime Minister Benjamin Netanyahu is expected to travel to China in the coming weeks.''
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''Russia Refuses to Allocate $10 mln to Afghan Army''
From Ria Novosti
''Russia has denied a NATO request to allocate $10 million for the support of the Afghan Army, the Russian presidential envoy to Afghanistan, Zamir Kabulov, said on Thursday following the alliance’s summit in Chicago.
“At the summit…, it was stated that after 2014 (when international military forces withdraw from Afghanistan) support for the Afghan Army should continue,” said Kabulov, who also heads the Russian Foreign Ministry’s department on Afghanistan.
“For the United States it has already become difficult to bear this burden, they want to share it with NATO partners,” Kabulov continued. “They also hinted that it would be good if Russia allocated $10 million.''
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''Russia has denied a NATO request to allocate $10 million for the support of the Afghan Army, the Russian presidential envoy to Afghanistan, Zamir Kabulov, said on Thursday following the alliance’s summit in Chicago.
“At the summit…, it was stated that after 2014 (when international military forces withdraw from Afghanistan) support for the Afghan Army should continue,” said Kabulov, who also heads the Russian Foreign Ministry’s department on Afghanistan.
“For the United States it has already become difficult to bear this burden, they want to share it with NATO partners,” Kabulov continued. “They also hinted that it would be good if Russia allocated $10 million.''
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Jim Willie: "U.S. Treasury Bond Teetering Tower Of Babel, Fed Stuck At 0% Forever''
a must read..............h/t to infocyde...........From Market Oracle
''The US Economy has lost its potential traction, since it forfeited the bulk of its industry to China in the last decade, after forfeiting much more in the 1980 and 1990 decade. Back then it was called the migration to the Pacific Rim. Therefore, the US Economy cannot respond to 0% rate, does not take advantage of the low rate to expand business investment, to kick start the various industries as it did in past recessions. This recession is both permanent and a march to the cemetery. At the end of this current cycle is a massive implosion of the big US banks, followed by global isolation of the US Dollar, ending with an inevitable US Govt debt default. The implosion of the big US banks has begun, with JP Morgan making its defensive deceptive admissions of serious loss and worse, lost control. The isolation of the US Dollar is a new chapter underway, in response to the ill-fated Iran sanctions. The East is mobilizing.''
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''The US Economy has lost its potential traction, since it forfeited the bulk of its industry to China in the last decade, after forfeiting much more in the 1980 and 1990 decade. Back then it was called the migration to the Pacific Rim. Therefore, the US Economy cannot respond to 0% rate, does not take advantage of the low rate to expand business investment, to kick start the various industries as it did in past recessions. This recession is both permanent and a march to the cemetery. At the end of this current cycle is a massive implosion of the big US banks, followed by global isolation of the US Dollar, ending with an inevitable US Govt debt default. The implosion of the big US banks has begun, with JP Morgan making its defensive deceptive admissions of serious loss and worse, lost control. The isolation of the US Dollar is a new chapter underway, in response to the ill-fated Iran sanctions. The East is mobilizing.''
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''Keiser Report: Stripped To Teeth''
From RT.com
"In this episode, Max Keiser and co-host, Stacy Herbert, discuss self-reporting financial crimes and private equity ripping teeth out of four year olds for profit. In the second half of the show Max talks to Teri Buhl about JP Morgan's Wells Notice and what bad news that could mean to the troubled bank's fortunes.''
'Four-way oil swap win-win for India-Russia'
From Russia & India Report
"Japan imports the bulk of its oil from the Gulf but this has to travel a long way. If Russia meets Japan's oil needs, what it would otherwise buy could go to India. Simultaneously, India must increase its exposure in Russia's energy sector. It'll be a win-win situation for India and Russia and the other players involved," Prabhat Shukla, joint director of privately-funded think-tank Vivekananda International Foundation.''
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"Japan imports the bulk of its oil from the Gulf but this has to travel a long way. If Russia meets Japan's oil needs, what it would otherwise buy could go to India. Simultaneously, India must increase its exposure in Russia's energy sector. It'll be a win-win situation for India and Russia and the other players involved," Prabhat Shukla, joint director of privately-funded think-tank Vivekananda International Foundation.''
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''Fearful Iran hawks flap harder''
From Asia Times Online
''As at least two days of talks on the future of Iran's nuclear program got underway in Baghdad on Wednesday, neo-conservatives and other hawks escalated their campaign against any compromise agreement, particularly one that would permit Tehran to continue enriching uranium on its territory.
Fearful that the US and the other members of the so-called P5+1 ("Iran Six" - Britain, France, Russia, China, plus Germany) will strike an interim accord with Tehran under which it would agree to limit its uranium enrichment to 5%, they argued that Iran should instead be forced to comply with a 2006 United Nations Security resolution calling for it to stop enriching altogether - a position that most Iran experts here believe is certain to kill any prospect for progress.''
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''As at least two days of talks on the future of Iran's nuclear program got underway in Baghdad on Wednesday, neo-conservatives and other hawks escalated their campaign against any compromise agreement, particularly one that would permit Tehran to continue enriching uranium on its territory.
Fearful that the US and the other members of the so-called P5+1 ("Iran Six" - Britain, France, Russia, China, plus Germany) will strike an interim accord with Tehran under which it would agree to limit its uranium enrichment to 5%, they argued that Iran should instead be forced to comply with a 2006 United Nations Security resolution calling for it to stop enriching altogether - a position that most Iran experts here believe is certain to kill any prospect for progress.''
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''ECB's Nowotny doubts Greek exit would be ''manageable''
From Ekathimerini
''European Central Bank Governing Council member Ewald Nowotny said a Greek euro exit would lead to “massive distortions.”
When asked whether he agreed with Germany’s Bundesbank that such an event would be manageable for the euro area, Nowotny told reporters in Vienna today that “depends on what you consider manageable.” It “would create big, massive distortions, where you don’t know what the consequences would be,” he said, urging policy makers to “avoid speculation.''
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''European Central Bank Governing Council member Ewald Nowotny said a Greek euro exit would lead to “massive distortions.”
When asked whether he agreed with Germany’s Bundesbank that such an event would be manageable for the euro area, Nowotny told reporters in Vienna today that “depends on what you consider manageable.” It “would create big, massive distortions, where you don’t know what the consequences would be,” he said, urging policy makers to “avoid speculation.''
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''Nigeria: Azazi to U.S. - Don't Put 'Terror' Label On Boko Haram''
From All Africa
''Nigeria fears that including Boko Haram in the US watch list could make it more difficult for Nigerian citizens to travel to the US and further affect bilateral trade between the two countries.
The Federal Government said it would manage to counter the threat posed by Boko Haram, as was done in the past with other militant groups in the country.''
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''Nigeria fears that including Boko Haram in the US watch list could make it more difficult for Nigerian citizens to travel to the US and further affect bilateral trade between the two countries.
The Federal Government said it would manage to counter the threat posed by Boko Haram, as was done in the past with other militant groups in the country.''
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Northeast Asia: ''a region without regionalism''
From East Asia Forum
''The ambitious plan to build a free trade zone across China, South Korea and Japan was pompously declared, only to stumble over old unresolved issues. The legacies of colonialism, international wars and civil conflicts persist, thwarting any attempts to rebuild trust and achieve multilateral cooperation.''
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''The ambitious plan to build a free trade zone across China, South Korea and Japan was pompously declared, only to stumble over old unresolved issues. The legacies of colonialism, international wars and civil conflicts persist, thwarting any attempts to rebuild trust and achieve multilateral cooperation.''
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Thursday, May 24, 2012
Pepe Escobar Interview with Voice of Russia
From Voice of Russia
.........''And all that explain also why so many corporate interests are interested in regime change in Iran, with or without a war they want Iran to open to Western financial corporate interests. And that is very dangerous these interests will never give up the possibility of a military option applied to Iran.
.........''And all that explain also why so many corporate interests are interested in regime change in Iran, with or without a war they want Iran to open to Western financial corporate interests. And that is very dangerous these interests will never give up the possibility of a military option applied to Iran.
So, that would imply that NATO, which as we all know was started as a bloc to oppose the communist bloc in the world, is now seems to be evolving as just a tool of the transnational corporations.
Yes, this is a pretty good summing up of the situation. It is a tool of the Pentagon agenda, of the official doctrine of the Pentagon in fact approved ten years ago in 2002 which is called full spectrum dominance, meaning the Pentagon has to dominate everywhere – air, land, sea, cyberspace, outer space. And at the same time it is a tool of Western corporate and financial interests as well, what we were discussing a few minutes ago, in terms of opening new frontiers for capitalist exploitation and profit basically.''
''Brotherhood claims lead as Egypt vote count begins''
From AP
''The Muslim Brotherhood said Thursday that its candidate was leading in exit polls from Egypt's landmark presidential election, as official counting began after two days of voting to choose a successor to ousted leader Hosni Mubarak.''
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''The Muslim Brotherhood said Thursday that its candidate was leading in exit polls from Egypt's landmark presidential election, as official counting began after two days of voting to choose a successor to ousted leader Hosni Mubarak.''
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''Police urge Greeks to keep money in bank''
From The Guardian
''The scale of withdrawals from Greek banks – almost 25% of deposits have been taken out in the past two years – and fears that other countries may suffer mass withdrawals has led to speculation that a eurozone-wide guarantee is needed to maintain confidence in the banking system.
Greece's national police spokesman, Thanassis Kokkalakis, told Reuters: "Many people have withdrawn their money from the banks fearing a financial crash, and they either carry it on them, find a hideout at home or in storage rooms.''
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''The scale of withdrawals from Greek banks – almost 25% of deposits have been taken out in the past two years – and fears that other countries may suffer mass withdrawals has led to speculation that a eurozone-wide guarantee is needed to maintain confidence in the banking system.
Greece's national police spokesman, Thanassis Kokkalakis, told Reuters: "Many people have withdrawn their money from the banks fearing a financial crash, and they either carry it on them, find a hideout at home or in storage rooms.''
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''Underwater Homeowners Owe $1.2 Trillion More than Homes' Worth''
that's nice.......From Market Watch
''Nearly one-third (31.4 percent) of U.S. homeowners with mortgages - or 15.7 million - were underwater on their mortgage in the first quarter of 2012, despite rising home values, according to the first quarter Zillow® Negative Equity Report[1]. Collectively, underwater homeowners owed $1.2 trillion more than their homes were worth. Negative equity rose slightly from 31.1 percent in the fourth quarter, and declined from 32.4 percent one year ago.''
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''Nearly one-third (31.4 percent) of U.S. homeowners with mortgages - or 15.7 million - were underwater on their mortgage in the first quarter of 2012, despite rising home values, according to the first quarter Zillow® Negative Equity Report[1]. Collectively, underwater homeowners owed $1.2 trillion more than their homes were worth. Negative equity rose slightly from 31.1 percent in the fourth quarter, and declined from 32.4 percent one year ago.''
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''IMF: Their Firewalls, Our Money''
From World Policy Blog
''The IMF and its managing director Christine Lagarde are pleased with themselves for assembling country commitments for $430 billion in additional emergency-ish financing to bail out Europe. Lagarde calls her agency’s resources “firepower” to complement what the financial press likes to call the “firewall”: Moneys deployed in defense of the Euro, through mechanisms—one supposedly temporary, the other a permanent fiscal adjustment mechanism—created by European politicians.
One woman’s firewall is another’s slush fund, which is why U.S. Representative Cathy McMorris Rodgers not only continues to warn against what she calls a “Euro-TARP” but also wants to rescind a standing $100 million commitment from the U.S. to the IMF. (That’s not likely to happen, but the U.S. has declined to contribute to the latest $430 billion IMF plus-up.)''
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''The IMF and its managing director Christine Lagarde are pleased with themselves for assembling country commitments for $430 billion in additional emergency-ish financing to bail out Europe. Lagarde calls her agency’s resources “firepower” to complement what the financial press likes to call the “firewall”: Moneys deployed in defense of the Euro, through mechanisms—one supposedly temporary, the other a permanent fiscal adjustment mechanism—created by European politicians.
One woman’s firewall is another’s slush fund, which is why U.S. Representative Cathy McMorris Rodgers not only continues to warn against what she calls a “Euro-TARP” but also wants to rescind a standing $100 million commitment from the U.S. to the IMF. (That’s not likely to happen, but the U.S. has declined to contribute to the latest $430 billion IMF plus-up.)''
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''Real federal deficit dwarfs official tally''
From USA Today
''The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the government's books.''
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''The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the government's books.''
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''The NATO-industrial complex''
its just corporate welfare..............From Salon
''The U.S. defense industry is a driving force behind both the U.S. and NATO missile defense plans (which is essentially an extension of the U.S. system). The industry comes together in the form of the National Defense Industry Association, which is something like the American Legislative Exchange Council of the defense sector. In bringing together military and politicians in an endless calendar of industry-hosted luncheons and meetings, the organization has good business sense and an awful grasp of history. In a ceremony next week, the group will award chairman of the House Armed Forces Committee “Buck” McKeon its annual Dwight D. Eisenhower Award, named after the man who famously left office with a warning to the American people about what he termed “the military-industrial complex.''
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''The U.S. defense industry is a driving force behind both the U.S. and NATO missile defense plans (which is essentially an extension of the U.S. system). The industry comes together in the form of the National Defense Industry Association, which is something like the American Legislative Exchange Council of the defense sector. In bringing together military and politicians in an endless calendar of industry-hosted luncheons and meetings, the organization has good business sense and an awful grasp of history. In a ceremony next week, the group will award chairman of the House Armed Forces Committee “Buck” McKeon its annual Dwight D. Eisenhower Award, named after the man who famously left office with a warning to the American people about what he termed “the military-industrial complex.''
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''The Seeds of the EU’s Crisis Were Sown 60 Years Ago''
From Bloomberg
''The overriding goal for a Europe in ruins after 1945 was to create a secure zone of peace and prosperity. Reconciliation between France and Germany, formerly bitter enemies and sure to be the dominant economic entities in a new Europe, was vital. As a matter of the highest priority, the two countries formed a close alliance, and began building a new united Europe around it. They started modestly in 1951 with the European Coal and Steel Community, but entertained bigger ambitions at the outset. As early as 1957, the Treaty of Rome enshrined the notion of “ever closer union.” This became the organizing principle for Europe’s subsequent evolution.''
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''The overriding goal for a Europe in ruins after 1945 was to create a secure zone of peace and prosperity. Reconciliation between France and Germany, formerly bitter enemies and sure to be the dominant economic entities in a new Europe, was vital. As a matter of the highest priority, the two countries formed a close alliance, and began building a new united Europe around it. They started modestly in 1951 with the European Coal and Steel Community, but entertained bigger ambitions at the outset. As early as 1957, the Treaty of Rome enshrined the notion of “ever closer union.” This became the organizing principle for Europe’s subsequent evolution.''
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FDI: ''A Blessing Or A Curse For West Africa?''
From Eurasia Review
''A growing population and abundance of natural resources ensure that West Africa offers tremendous investment and economic opportunities for states and businesses alike. Prior to 2000, the combined Gross Domestic Product (GDP) for this region was estimated to be less than $250 billion. Yet within the space of a decade GDP had more than doubled to approximately $565 billion.''
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''A growing population and abundance of natural resources ensure that West Africa offers tremendous investment and economic opportunities for states and businesses alike. Prior to 2000, the combined Gross Domestic Product (GDP) for this region was estimated to be less than $250 billion. Yet within the space of a decade GDP had more than doubled to approximately $565 billion.''
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Pepe Escobar: "How Osama re-elects Obama''
From Asia Times Online
''A nuclear deal with Iran? An organized retreat from Afghanistan? The eurozone picking up a little bit of steam? Stable oil prices? Forget it. The crucial foreign elector recruited for Obama II at the White House is one Osama bin Laden. Call it the "Obama nails Osama" winning strategy.
No wonder the winning strategy has been subcontracted to the Hollywood/Pentagon combo. Washington lost the Vietnam War, but won it in on screen. Oscar-winning director Kathryn Hurt Locker Bigelow had already started the process of "winning" the Iraq War on screen - at least morally. Now it's time for her new project - an as yet untitled movie - on the "Get Osama" May 2011 Abbottabad raid and the events leading up to it. With POTUS (that's president of the United States) as the hero of his own action movie.''
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''A nuclear deal with Iran? An organized retreat from Afghanistan? The eurozone picking up a little bit of steam? Stable oil prices? Forget it. The crucial foreign elector recruited for Obama II at the White House is one Osama bin Laden. Call it the "Obama nails Osama" winning strategy.
No wonder the winning strategy has been subcontracted to the Hollywood/Pentagon combo. Washington lost the Vietnam War, but won it in on screen. Oscar-winning director Kathryn Hurt Locker Bigelow had already started the process of "winning" the Iraq War on screen - at least morally. Now it's time for her new project - an as yet untitled movie - on the "Get Osama" May 2011 Abbottabad raid and the events leading up to it. With POTUS (that's president of the United States) as the hero of his own action movie.''
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''United States Sends Combat Commanders to Colombia''
expanding the empire...........From Upside Down World
''U.S. Joint Chiefs of Staff commander General Martin Dempsey visited Colombia on March 29 to announce that within weeks U.S. military personnel will operate from a military base there with the newly formed Vulcan Task Force.
The Vulcan Task Force, which was established in December 2011, has 10,000 soldiers, three mobile brigades and one fixed brigade, operating from a base in Tibú, in the Catatumbo region (North Santander), just two miles from the Venezuela border.''
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''U.S. Joint Chiefs of Staff commander General Martin Dempsey visited Colombia on March 29 to announce that within weeks U.S. military personnel will operate from a military base there with the newly formed Vulcan Task Force.
The Vulcan Task Force, which was established in December 2011, has 10,000 soldiers, three mobile brigades and one fixed brigade, operating from a base in Tibú, in the Catatumbo region (North Santander), just two miles from the Venezuela border.''
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''Russia’s response to NATO’s jovial “regret''
From Voice of Russia
''So, now it is clear why Vladimir Putin didn’t go to the United States. Being photographed in the company of the leaders of an alliance whose professed aim is to make your country’s nuclear capability worthless is not the best photo-op for a freshly inaugurated president. And NATO leaders at their summit in Chicago stressed that the so called anti-ballistic missile (ABM ) shield, which they decided to develop, among other places, on the territories of Poland and Rumania, is supposed to protect them against ALL threats. With Russia somehow never ending up too far from the top of this “ALL” pile. This barely hidden truth is best reflected in changes in media speculation and expert reactions.''
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''So, now it is clear why Vladimir Putin didn’t go to the United States. Being photographed in the company of the leaders of an alliance whose professed aim is to make your country’s nuclear capability worthless is not the best photo-op for a freshly inaugurated president. And NATO leaders at their summit in Chicago stressed that the so called anti-ballistic missile (ABM ) shield, which they decided to develop, among other places, on the territories of Poland and Rumania, is supposed to protect them against ALL threats. With Russia somehow never ending up too far from the top of this “ALL” pile. This barely hidden truth is best reflected in changes in media speculation and expert reactions.''
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''The State of the Military-Industrial Complex Is Strong''
From Other Words
By William Collins
''What can you do with a bunch of used generals? If you keep them active, they need new assignments. These can be expensive. But if you let them retire with fat pensions, they'll go to work for arms producers, lobbying for more weapons and more wars. Either way citizens pay through the nose.
Congress is even more costly. Seemingly sensible lawmakers turn to Jell-O when weapons contracts are at stake. In my tiny state of Connecticut, we happen to make nuclear submarines, the blunderbusses of modern warfare. Their main job seems to be running onto reefs and colliding with fishing boats. We have too many now, but we can't stop making them because jobs and profits (and elections) will be lost.''
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By William Collins
''What can you do with a bunch of used generals? If you keep them active, they need new assignments. These can be expensive. But if you let them retire with fat pensions, they'll go to work for arms producers, lobbying for more weapons and more wars. Either way citizens pay through the nose.
Congress is even more costly. Seemingly sensible lawmakers turn to Jell-O when weapons contracts are at stake. In my tiny state of Connecticut, we happen to make nuclear submarines, the blunderbusses of modern warfare. Their main job seems to be running onto reefs and colliding with fishing boats. We have too many now, but we can't stop making them because jobs and profits (and elections) will be lost.''
read more
Photo Essay: ''Mexico's Drug War: 50,000 Dead in 6 Years''
From The Atlantic
''Since Mexico's President Felipe Calderón began an all-out assault on drug cartels in 2006, more than 50,000 people have lost their lives across the country in a nearly-continuous string of shootouts, bombings, and ever-bloodier murders. Just last weekend, 49 decapitated bodies were reportedly discovered on a highway in northern Mexico. The New York Times reports on an increasing numbness and apathy among Mexicans after years of worsening carnage, about which they've been able to do virtually nothing. Gathered here is a collection of recent photographs from Mexico's drug war and the people so horribly affected by it. [44 photos]''
graphic
view pics
''Since Mexico's President Felipe Calderón began an all-out assault on drug cartels in 2006, more than 50,000 people have lost their lives across the country in a nearly-continuous string of shootouts, bombings, and ever-bloodier murders. Just last weekend, 49 decapitated bodies were reportedly discovered on a highway in northern Mexico. The New York Times reports on an increasing numbness and apathy among Mexicans after years of worsening carnage, about which they've been able to do virtually nothing. Gathered here is a collection of recent photographs from Mexico's drug war and the people so horribly affected by it. [44 photos]''
graphic
view pics
''Labor Trafficking: Modern-day Slave Trade''
From Foreign Policy in Focus
''The freer flow of commodities and capital has been one of the features of the contemporary process of globalization. Unlike in the earlier phase of globalization in the 19th century, however, the freer flow of commodities and capital has not been accompanied by a freer movement of labor globally. The dynamic centers of the global economy, after all, have imposed ever tighter restrictions on migration from the poorer countries.Yet the demand for cheap labor in the richer parts of the world continues to grow, even as more and more people in developing countries seek to escape conditions of economic stagnation and poverty that are often the result of the same dynamics of a system of global capitalism that have created prosperity in the developed world. ''
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''The freer flow of commodities and capital has been one of the features of the contemporary process of globalization. Unlike in the earlier phase of globalization in the 19th century, however, the freer flow of commodities and capital has not been accompanied by a freer movement of labor globally. The dynamic centers of the global economy, after all, have imposed ever tighter restrictions on migration from the poorer countries.Yet the demand for cheap labor in the richer parts of the world continues to grow, even as more and more people in developing countries seek to escape conditions of economic stagnation and poverty that are often the result of the same dynamics of a system of global capitalism that have created prosperity in the developed world. ''
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''Quebec students consider moves to suspend Bill 78''
From Voice of Russia
In Canada May 22rd marked the 100th day of students protesting over tuition increases and the Bill 78 newly passed by the National Assembly of Quebec, French-speaking Canadian province. Last week the government of Quebec got fed up with occasionally violent protest and introduced a tough law that would make protests more difficult to organize and impose high fines on those who disobey.''
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''The Russian Foreign Ministry earlier this week has expressed its concern over reports of violation of protesters' rights in the United States and Canada.
In Canada May 22rd marked the 100th day of students protesting over tuition increases and the Bill 78 newly passed by the National Assembly of Quebec, French-speaking Canadian province. Last week the government of Quebec got fed up with occasionally violent protest and introduced a tough law that would make protests more difficult to organize and impose high fines on those who disobey.''
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Wednesday, May 23, 2012
''TAPI gas pipeline: Kabul turns to Taliban for pipeline security''
From 'There are no Sunglasses'
''The administration of President Hamid Karzai has assured Pakistan and India that it has reached an ‘understanding’ with Taliban insurgents to ensure the security of the multi-billion-dollar Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project.
“The Afghan Taliban have assured that they would not sabotage the project,” a senior official told The Express Tribune quoting Afghan authorities. “The Afghan government would also deploy troops to ensure the security of the pipeline,” the official added.''
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''The administration of President Hamid Karzai has assured Pakistan and India that it has reached an ‘understanding’ with Taliban insurgents to ensure the security of the multi-billion-dollar Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project.
“The Afghan Taliban have assured that they would not sabotage the project,” a senior official told The Express Tribune quoting Afghan authorities. “The Afghan government would also deploy troops to ensure the security of the pipeline,” the official added.''
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''India's proposal for government control of Internet to be discussed in Geneva''
From The Hindu
''The raging controversy over possible excessive state regulation of the internet based on the IT Rules 2011 is now likely to be dwarfed by discussions in Geneva later this week over India's proposal to the United Nations General Assembly, for government control of the Internet.
Led by the Commission on Science and Technology for Development, the Geneva meet is a multi-stakeholder discussion platform on Internet governance structures.''
Why Nations Fail: ''The Origins of Power, Prosperity, and Poverty''
From NY Review of Books
''Power, prosperity, and poverty vary greatly around the world. Norway, the world’s richest country, is 496 times richer than Burundi, the world’s poorest country (average per capita incomes $84,290 and $170 respectively, according to the World Bank). Why? That’s a central question of economics.
Different economists have different views about the relative importance of the conditions and factors that make countries richer or poorer. The factors they most discuss are so-called “good institutions,” which may be defined as laws and practices that motivate people to work hard, become economically productive, and thereby enrich both themselves and their countries.''
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''Power, prosperity, and poverty vary greatly around the world. Norway, the world’s richest country, is 496 times richer than Burundi, the world’s poorest country (average per capita incomes $84,290 and $170 respectively, according to the World Bank). Why? That’s a central question of economics.
Different economists have different views about the relative importance of the conditions and factors that make countries richer or poorer. The factors they most discuss are so-called “good institutions,” which may be defined as laws and practices that motivate people to work hard, become economically productive, and thereby enrich both themselves and their countries.''
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''An Inconvenient Bilderberg Truth''
From Activist Post
''With the 2012 Bilderberg Group meeting fast approaching, the globalist-backed corporate media continues to ignore reporting on the leading events of the next Bilderberg Group meeting.
The corporate whore mainstream media (yes that’s exactly who they are and I don’t apologise for using such harsh language) has purposefully not made any mention of the upcoming Bilderberg Group meeting and has in fact deliberately begun a systematic attack on the alternative media and Bilderberg truthers for their efforts to report on the Bilderberg Group meeting and its agenda.''
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''With the 2012 Bilderberg Group meeting fast approaching, the globalist-backed corporate media continues to ignore reporting on the leading events of the next Bilderberg Group meeting.
The corporate whore mainstream media (yes that’s exactly who they are and I don’t apologise for using such harsh language) has purposefully not made any mention of the upcoming Bilderberg Group meeting and has in fact deliberately begun a systematic attack on the alternative media and Bilderberg truthers for their efforts to report on the Bilderberg Group meeting and its agenda.''
read more
''Want to see an end to the euro crisis and return to a profitable UK? Then don't rely on a government which insists the EU has the answers''
From Daily Mail
By Nigel Farage
''Tonight we have yet another EU summit in Brussels, called by my old friend Herman Van Rompuy, where he will present yet another 'strategy for growth and jobs'.
Don't expect it to contain any proposals which will genuinely stimulate economies, for this man is the leader of an organisation to whom business innovation is a stranger.
With mass civil unrest waiting in the wings and human suffering a daily event in countries like Greece, we have an EU which is more intent on killing the patient and saving the cancer than getting the continent out of this economic crisis.''
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By Nigel Farage
''Tonight we have yet another EU summit in Brussels, called by my old friend Herman Van Rompuy, where he will present yet another 'strategy for growth and jobs'.
Don't expect it to contain any proposals which will genuinely stimulate economies, for this man is the leader of an organisation to whom business innovation is a stranger.
With mass civil unrest waiting in the wings and human suffering a daily event in countries like Greece, we have an EU which is more intent on killing the patient and saving the cancer than getting the continent out of this economic crisis.''
read more
''Over 99% of Federal Reserve Bank Enforcement Actions Are Resolved Without Admission of Guilt''
From Naked Capitalism
..............''the FederalReserve
will only punish banks who break the rules if those banks consent to punishment. This attitude is pervasive among all regulators. Here’s the Office of the Comptroller of the Currency, which regulates among other banks JP Morgan Chase.
Obtaining an institution’s consent to an immediately effective order helps ensure that its problems are addressed at a stage when rehabilitation is still possible, thus helping the bank avoid failure…''
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..............''the Federal
Obtaining an institution’s consent to an immediately effective order helps ensure that its problems are addressed at a stage when rehabilitation is still possible, thus helping the bank avoid failure…''
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''When did the dollar overtake sterling as the leading international currency? Evidence from the bond markets''
From VOX
"The global economic and financial crisis has lent new impetus to discussions of the future of the international monetary and financial system. Some advocate moving to a multipolar system in which the US dollar shares its international currency role with the euro, the Chinese renminbi and/or the IMF’s Special Drawing Rights. At the Cannes Summit of November 2011, G20 Leaders committed to taking “concrete steps” to ensure that the international monetary system reflects “the changing equilibrium and the emergence of new international currencies.''
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"The global economic and financial crisis has lent new impetus to discussions of the future of the international monetary and financial system. Some advocate moving to a multipolar system in which the US dollar shares its international currency role with the euro, the Chinese renminbi and/or the IMF’s Special Drawing Rights. At the Cannes Summit of November 2011, G20 Leaders committed to taking “concrete steps” to ensure that the international monetary system reflects “the changing equilibrium and the emergence of new international currencies.''
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''What Falling Iron Ore Means for Gold''
From MoneyMorning
By Dr. Alex Cowie
''With bank lending drying up, Chinese construction will soon STOP.
This has loads of follow-on effects.
For instance, the Chinese property market accounts for 40% of Chinese steel consumption.
So if Chinese property building grinds to a halt, there could up to a 40% drop in steel demand on the horizon. And that’s not even looking at the potential falls in steel demand for car production, infrastructure and the other industries that take the remaining 60%.''
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By Dr. Alex Cowie
''With bank lending drying up, Chinese construction will soon STOP.
This has loads of follow-on effects.
For instance, the Chinese property market accounts for 40% of Chinese steel consumption.
So if Chinese property building grinds to a halt, there could up to a 40% drop in steel demand on the horizon. And that’s not even looking at the potential falls in steel demand for car production, infrastructure and the other industries that take the remaining 60%.''
read more
''How the Feds Fight a Great Correction and Prolong Economic Depressions''
From Daily Reckoning Australia
''The Panic of 1873 led to a 5-year depression. And the Panic of 1893 hit even harder — with a crash on Wall Street, 16,000 business failures and a 15% unemployment rate. Four years later, the economy was running hot again.
The aftermath of WWI brought the Depression of 1921. By many measures it was as bad as the Great Depression. But it was quick — two years later it was over.
And then, came the Great Depression itself. What made it so great? The feds! Until the 1930s, the feds let the economy take care of itself. Interest rates? They were set by willing buyers and sellers, not by economists working for the government. Monetary policy? Fiscal policy? There were none.''
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''The Panic of 1873 led to a 5-year depression. And the Panic of 1893 hit even harder — with a crash on Wall Street, 16,000 business failures and a 15% unemployment rate. Four years later, the economy was running hot again.
The aftermath of WWI brought the Depression of 1921. By many measures it was as bad as the Great Depression. But it was quick — two years later it was over.
And then, came the Great Depression itself. What made it so great? The feds! Until the 1930s, the feds let the economy take care of itself. Interest rates? They were set by willing buyers and sellers, not by economists working for the government. Monetary policy? Fiscal policy? There were none.''
read more
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