Posted by smeddum on October 27, 2008
OPINION OCTOBER 27, 2008
The Age of Prosperity Is Over
This administration and Congress will be remembered like Herbert Hoover.
By ARTHUR B. LAFFER Wall Street Journal
About a year ago Stephen Moore, Peter Tanous and I set about writing a book about our vision for the future entitled “The End of Prosperity.” Little did we know then how appropriate its release would be earlier this month. Read the rest of this entry »
Posted in Uncategorized | Tagged: economic crash, Financial crisis | Leave a Comment »
Posted by smeddum on October 27, 2008
Rat infestation threatens UK
Britain now has more rats than people, with the trend set to continue unless households cut down on food waste, it has been claimed.
By Chris Irvine Telegraph
GMT 27 Oct 2008
Experts claim councils which have stopped weekly bin collections are to blame, along with mild winters and last year’s floods.
The worst affected city is York, which has seen its rat population rise by 208 per cent in a year. Carlisle has seen a change of 142 per cent.
Other areas to see a significant increase in infestation include Exeter (60 per cent) and Salford (40 per cent).
Rentokil estimates there are 65 to 80 million rats in Britain compared to around 60m humans.
National Pest Technicians Association director Peter Crowden told The Daily Mirror: “In 30 years I’ve never known such a big rat population – and there will be an epidemic if people don’t reduce food waste. Read the rest of this entry »
Posted in Ecological and Public Health Crisis | Tagged: Rat infection, UK rat infection | Leave a Comment »
Posted by smeddum on October 27, 2008
Global Cooling: Record Low Temperatures Hit America
Global warming apocalypse debunked as big chill sets in
Paul Joseph Watson
Prison Planet
Monday, October 27, 2008
Record low temperatures have hit dozens of areas across America as a natural period of global cooling accelerates, leaving man-made global warming advocates with egg on their face as the big chill sets in. Read the rest of this entry »
Posted in Ecological and Public Health Crisis | Tagged: global cooling | Leave a Comment »
Posted by seumasach on October 27, 2008
L’ancien président iranien Ali Akbar Hashemi Rafsanjani a appelé aujourd’hui, 25 octobre 2008, à une enquête internationale sur les allégations de Jim Brown.
[The former Iranian president Rafsanjani has called for an international inquiry into Jim Brown’s allegations]
Dans un entretien diffusé le 9 octobre par la chaîne publique italienne d’information continue, RaiNews24, ce vétéran de l’armée des États-Unis assure que son pays a fait exploser une bombe atomique le 27 février 1991 dans le désert près de Basra.
[In an interview broadcast on 9th October by the Italian network RaiNews24, this US army veteran insists that his country detonated an atomic bomb in the desert near Basra on 27th February, 1991.]
Posted in Drive to Global War | Tagged: nuclear attack on Basra, nuclear war | Leave a Comment »
Posted by seumasach on October 27, 2008
4th September, 2008
MEXICO CITY (AFP) — A private jet that crash-landed almost one year ago in eastern Mexico carrying 3.3 tons of cocaine had previously been used for CIA “rendition” flights, a newspaper report said here Thursday, citing documents from the United States and the European Parliament.
Posted in Uncategorized | Tagged: CIA Narcotic Trafficers | Leave a Comment »
Posted by seumasach on October 27, 2008
“The great inter-war slumps were not acts of God or of blind forces. They were the sure and certain result of the concentration of too much economic power in the hands of too few men (who) felt no responsibility to the nation.” From the 1945 UK Labour manifesto Let Us Face The Future
Mike Whitney
October 25, 2008 “Information Clearinghouse“ — -There are signs that the credit crunch is easing. Interbank lending in dollars has fallen for a ninth straight day. The various indicators of stress in the market–Libor, the TED spread, and the Libor-OIS spread–are all gradually returning to normal, but the damage to the broader economy has been substantial. Major corporations have had to stretch their credit lines just to get the money they need to cover routine operating expenses and a lot of retailers have not been able to get funding for their inventories for the holiday season, so they’ll either have to hire fewer workers or simply shut their doors for Christmas. Also, corporate defaults have increased as businesses have been unable to turn over their short-term debt. According to Fitch Ratings, the “crisis will cut growth in credit this year by 50 percent as financial firms reduce leverage, investors’ appetite for risk declines, and the worldwide economy slows.” When credit is less available, there’s less business activity and the economy slows. Unemployment goes up and quarterly earnings go down. It’s a vicious circle that starts with speculation and ends in panic. The financial system has to reestablish its equilibrium by purging the excessive credit that developed through low interest rates and lax lending standards. Financial institutions everywhere are in the process of deleveraging which is putting downward pressure on the main stock indexes and creating turmoil in the currency markets.
Posted in Uncategorized | Tagged: financial collapse | Leave a Comment »
Posted by seumasach on October 27, 2008
“responsibility on people to do all they can to help themselves”
Well, the bankers have helped themselves: now it’s our turn.
Helene Mulholland
27th October, 2008
Gordon Brown will use a speech to business leaders to defend his economic plans. Photograph: Leon Neal/PA
Welfare reforms must be “intensified” to help deal with the fall-out from the looming recession, Gordon Brown will declare today.
Posted in Financial crisis | Tagged: Financial crisis, stop the bailout | Leave a Comment »
Posted by smeddum on October 27, 2008
27/10/2008 –
In America we distrust
The crisis of the U.S. financial system is the crisis of its imperial system, after it managed to defeat the U.S.S.R. and start a huge technological revolution. It might be the end of a period, but last century the United States came back twice from similar problems
by francesco sisci
BEIJING —
In these days the U.S. dollar is no longer what it used to be. For decades, concrete sign of power and wealth, it is now beleaguered, despite the recent rallies that have boosted its value against the European competitor – the euro. The American financial system in fact is crumbling day after day, and nobody knows when the fall of this extremely volatile market will stop or how much money it will have to burn before it can start all over again. At the moment nobody trusts the U.S. financial system, heart if not mind of the (formerly?) almighty American empire. So the once proud motto on the greenback “in God we trust” sounds now like the prayer of the despairing who cast their lot with God because everything else has failed. Read the rest of this entry »
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Posted by seumasach on October 27, 2008
David Piling
26th October, 2008
Western banks may still not have produced reliable accounts of their balance sheets, suggesting more write-downs and capital injections could be necessary, according to Heizo Takenaka, the former Japanese economy minister often credited with ending the country’s 10-year banking crisis.
Mr Takenaka, who from 2001 forced banks aggressively to write down bad loans and to repair balance sheets by raising capital, said “more intellectual effort” was needed by western institutions to flush out the full extent of toxic assets. These were more complicated and harder to identify than in Japan’s more straightforward banking crisis, he said. Read the rest of this entry »
Posted in Uncategorized | Tagged: asia crisis, financial collapse, yen | Leave a Comment »
Posted by smeddum on October 27, 2008
Exploding Debt Dynamics: Argentina and the U.S. Dollar’s Fate
Currencies / US Dollar
Oct 24, 2008 – 05:19 PM
By: Justice_Litle Market Oracle
Whither the dollar and gold? To answer that long-awaited inquiry – which will take some time to cover in full – let’s start by getting a handle on “exploding debt dynamics.” Cartoonish as it sounds, it’s a real term that IMF economists use. Read the rest of this entry »
Posted in Uncategorized | Tagged: dollar collapse, dollar rally | Leave a Comment »
Posted by smeddum on October 26, 2008
Posted in Uncategorized | Tagged: Financial crisis, Music Video, parody, what a feeling | Leave a Comment »
