Tuesday March 24th 2009

Ted Rall: Obama doesn’t talk like Bush; he just acts like him
Must Read - Obama™ Update -- A quote...."NEW YORK — You can’t blame Dick Cheney for being annoyed at Barack Obama. Obama is closing Guantánamo. He’s ordering the CIA to interrogate prisoners according to the rules written in the Army Field Manual, which doesn’t allow torture. He’s even phasing out such classic Bushian phrases as “enemy combatant” and “war on terror.” -- But the dark prince of neoconservatism should relax. Obama’s inaugural address may have promised to “reject as false the choice between our safety and our ideals,” but — in all the ways that matter — he’s keeping all of Bush’s outrageous policies in place. Sure, he talks a good game about “moving forward.” But nothing has really changed. From reading your e-mails to asserting the right to assassinate American citizens to bailing out companies whose executives pay themselves big bonuses, Obama’s changes are nothing but toothless rhetoric." -- also posted at ICH

Liquid War - Postcard from Pipelineistan
Must Read - A quote...."What happens on the immense battlefield for the control of Eurasia will provide the ultimate plot line in the tumultuous rush towards a new, polycentric world order, also known as the New Great Game. -- Our good ol' friend the nonsensical "Global War on Terror," which the Pentagon has slyly rebranded "the Long War," sports a far more important, if half-hidden, twin -- a global energy war. I like to think of it as the Liquid War, because its bloodstream is the pipelines that crisscross the potential imperial battlefields of the planet. Put another way, if its crucial embattled frontier these days is the Caspian Basin, the whole of Eurasia is its chessboard. Think of it, geographically, as Pipelineistan." -- also posted at ICH & CommonDreams & CounterCurrents & AsiaTimes

Barack Obama warns troops will be in Afghanistan for years - Ahhh, not a suprise to anyone out there, right? - mpg
Obama™ Update -- A quote...."A quote....."BARACK Obama has warned the war in Afghanistan will continue for years, vowing the free world must not back down in the face of "vicious killers". -- Exactly which bunch of "vicious killers" is Obama referring to? - mpg

Awakening Fighters Rally Against Maliki Govt - Ditto? - mpg
A quote...."Members of Iraq’s Awakening Council rallied north of Baghdad today, complaining that the Maliki government had reneged on the promises of employment after being placed under direct Iraqi control. The United States has transferred the vast majority of the militia’s forces to the Iraqi government since October."

Iran says West must respect will of Afghan people
A quote...."TEHRAN: Iran's Foreign Minister Manouchehr Mottaki, ahead of a March 31 conference on Afghanistan, said the West must respect the will of the Afghan people, the official IRNA news agency reported on Monday. Iran has been invited by the United States to attend the conference in The Hague, but has not yet confirmed its participation."

OSC: Khamenei's Speech Replying to Obama
A quote...."The USG Open Source Center translates Supreme Leader Ali Khamenei's response to the Persian New Year's message of US President Barack Obama. For a canny reading of this text, see the blog posting of Iran expert Farideh Farhi. See my own first impressions  in my Sunday comments, as well as Michael Jensen's article in the Irish Times.

India begins uphill journey with the SCO
Special Note - It could also be titled....India Finally Comes to Her Senses, India STOPS Drinking the Kool-Aid, India Avoids Becoming the US-NRE's Newest Appendage, etc. etc. - mpg -- A quote...."A shift in India's approach to the Shanghai Cooperation Organization (SCO) has become unavoidable as Indian regional policy in Central Asia painstakingly works its way out of a cul-de-sac. Tentative signs first appeared during the visit by Russian President Dmitry Medvedev to Delhi last December and formed part of a rethink against the backdrop of the transition of power in Washington. -- "In a manner of speaking, Delhi began a slow, painful process of edging away from the George W Bush era. A top Indian official said over the weekend that it has become an "uphill task" for Indian diplomacy to cope with US President Barack Obama's policy with regard to Afghanistan."

Czech Government Falls
Special Note - The US-NRE's financial pox along with it's policy of Empire has claimed another unintended victim.  The US-NRE's wealthy elites seem to do that quite frequently to all those "other" elites they like to call their "friends"- mpg -- A quote...."By Jan Tamas, Prague, Czech Republic -- I am very happy to announce that the Czech government has fallen. The Parliament voted the no-confidence. For us it is a great victory: we knew that the only way to stop the installation of the US radar base was the fall of the government and we worked for more than 2 years in this direction with permanence and coherence. -- A government that represented the interests of the US military industry has fallen."

Czech Government Falls Over STAR Wars Rader
Related Article - A quote...."The Associated Press reports, "The lower house of Parliament voted 101-96 to declare no confidence in the three-party coalition government, after four lawmakers broke rank with their parties and voted with the opposition.  "The government has struggled to resolve deep divisions within Parliament over whether to allow components of a U.S. missile defense shield on Czech territory, and whether to adopt the EU reform treaty to streamline decision-making in the bloc."

Secret doc exposes Georgia as aggressor
A quote...."The European Union commission on the war in South Ossetia has received a document claiming that this summer's war in South Ossetia was started by Georgia, says Germany’s Spiegel Online." -- also posted at WarInIraq

Saakashvili under Pressure from EU Probe
Related Article - A quote...."An EU enquiry investigating the events of last summer's conflict between Russia and Georgia is shining an unfavorable light on Mikheil Saakashvili. A secret document may prove that the Georgian president had planned a war of aggression in South Ossetia." --  For more on this issue see....American Selective Attention Deficit Disorder (ASADD) - 08-16-08 - mpg

Spain's retreat from Kosovo raises eyebrows
A quote...."MADRID: When Prime Minister José Luis Rodríguez Zapatero of Spain withdrew Spanish peacekeepers from Iraq in 2004, he got the cold shoulder from former President George W. Bush. So ever since the election of Barack Obama, Mr. Zapatero has relished the prospect of working with a U.S. leader with whom he shares not only a birthday but also, in his view, a progressive agenda and a desire to resolve conflict through dialogue." -- also posted at WarInIraq

Emerging Markets Seek to Dump the Dollar as World’s Main Reserve Currency
A quote...."Emerging markets, led by China and Russia, plan to jointly challenge the U.S. dollar’s role as the world’s sole benchmark currency at the April 2 meeting of the Group 20 nations - a move that underscores the currency’s weakness and fading support around the world. -- The creation of a new reserve currency to be issued by international financial institutions [As long as it's NOT the IMF or World Bank!! - mpg] was one of the measures Russia proposed to the G20 on March 16, ahead of the group’s summit next week."

Berlusconi blames world recession on the “American influenza virus”
A quote...."Berlusconi, who donned a train master's hat and posed for cameras in the driving seat of the "Red Arrow", said the crisis originated in the United States but Italy would soon emerge from it thanks to its healthy banks and low personal debt levels. -- "This American influenza, this virus arrived from America, has struck a healthy body... We're all trying to get over it with a bit of aspirin," he said."

Gazprom to buy out Italian stake in Gazprom Neft - paper
A quote...."MOSCOW, March 25 (RIA Novosti) - Gazprom may repurchase a 20% stake in Gazprom Neft and former gas assets of the liquidated Yukos oil company from Italian Eni and Enel in a deal worth over $5.5 billion, a business paper reported Wednesday."
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Four Murders at Mieh Mieh Refuge Camp - Who Tried to Kill Palestinian Ambassador Abass Zaki and Why?
Special Note - Some quotes...."Yesterday afternoon, Kamal Medhat, 58, known in Lebanon’s Palestinian Camps affectionately as ‘Kamal Naji’, a senior member of the Palestinian Fatah movement was killed exiting Mieh Meih Camp by a 25-30 kilogram bomb.  The bomb was   hidden in a small roadside shed between two checkpoints, one manned by the Lebanese army and the other at the Kifah el Musallah Camp security check point. According to Fateh intelligence sources, a man on a tall building near the Camp entrance watched Medhat's car approach and detonated it as he passed at almost exactly  2 pm." -- "Fateh sources claim the real target was Abass Zaki, the PLO Diplomatic Representative to Lebanon.  Zaki had left Mieh Mieh, a camp of about 5,000 refugees, about 7 minutes earlier in a nearly identical window-darkened black car to that of his deputy, Kamal Medhat." -- "There is common agreement in Lebanon’s Palestinian community Tuesday morning that the motive for the assassination attempt was to torpedo the growing intra-Palestinian unity moves in Lebanon and in order undermine Lebanon’s recent stability.  Zaki and his colleagues have been working hard for Fatah-Hamas unity in Lebanon. Fatah’s Zaki blamed Israel for the killing and warned it would have serious repercussions in Lebanon and the Palestinian camps.  "Those behind the killing are working in one way or another for Israel," he told the press." -- also posted at CounterCurrents & Uruknet

Iran blames Israel for Lebanon blast
A quote...."Iran's Foreign Ministry Spokesman condemns a recent bomb attack which killed a senior Palestinian official in Lebanon, blaming it on Israel."

Israel’s war crimes coming to light
A quote...." The Guardian has just published an excellent series of articles and videos on Israel’s crimes of war in and on Gaza.  Included in the reports are focuses on attacks on medical workers, Israel’s use of drones to target and kill with pinpoint accuracy civilians, and Israel’s use of civilians inluding minors] as human shields during their military operations."
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Movie Review: The Obama Deception
Obama™ Update -- A quote...."For my fellow Americans who don't know what's been going on, there is such a thing as the red pill genre of news and information. The term "red pill" comes from a movie, The Matrix, where a character can choose a red pill to disconnect from the matrix, or a blue pill to remain blissfully ignorant of the matrix -- even forgetting the opportunity to choose one pill or the other. -- While The Matrix was a fictional movie, The Obama Deception is not." -- And here's the movie -- Alex Jones - The Obama Deception - (Full Length - GglVid - 1h/51m/21s  - 031209)

The Road to DC - Obama's Team of Losers
Obama™ Update -- A quote...."Back in December, I wrote that “Change we can believe in” was looking suspiciously like Clinton III. I promised I would revisit the issue once there were more points on the data line. Now that we’re 28 years and two months into the “Reagan Revolution,” I’m ready to assess."

POLITICS-US:  Censorship Seen in Exclusion of Foreign Scholars
Obama™ Update -- A quote...."NEW YORK, Mar 24 (IPS) - A leading legal rights group charged Tuesday that the Barack Obama Justice Department is using immigration law to censor debate by selectively barring U.S. entry to foreign scholars."

Rockefeller: Internet is “Number One National Hazard”
Threats 2 The Web -- A quote...."According to the great-grandson John D. Rockefeller, nephew of banker David Rockefeller, and former Senate Intelligence Committee Chairman Jay Rockefeller the internet represents a serious threat to national security. Rockefeller is not alone in this assessment. His belief that the internet is the “number one national hazard” to national security is shared by the former Director of National Intelligence Mike McConnell and Obama’s current director Admiral Dennis C. Blair." -- Looks like the wealthy elites are getting uncomfortable with all the truth being reported on the internet....poor little things. - mpg

Australian Government adds Wikileaks to banned website list - Linking to flagged sites will cost you
Threats 2 The Web -- A quote...."The Australian communications regulator has issued a stark warning that websites who link out to 'banned' hyperlinks are liable to fines of up to Aus $11,000 a day. -- The news comes after web forum Whirlpool was threatened with the fine for posting a hyperlink to a blacklisted anti-abortion website."

New Reports on the Twin Towers Released
A quote...."One report is a fire engineering assessment completed by Burro Happold in February of 2000. The other two reports were property condition assessments done by Merritt & Harris, Inc. a year or so prior to 9/11. These reports together total hundreds of pages, and I want them widely released so they can be analyzed in light of the NIST reports on the collapses of the Twin Towers. Note that the Merritt & Harris reports are very large files."

Can Private Security Guards Act As Cops? -- That's Exactly What They May Soon Be Doing On The Far South Side
A quote...."CHICAGO (CBS) - They're private security guards, already on patrol, but they may soon have the powers of Chicago Police officers. As CBS 2 Chief Correspondent Jay Levine reports, the private security officers now on patrol on the city's Far South Side are expected to have their powers expanded as part of a citywide ordinance now being prepared."

Monsanto Planting Seeds In the White House?
Obama™ Update -- A quote...."Apparently, President Obama is considering appointing Michael Taylor to head the new Food Safety Working Group. Who's Michael Taylor? From Food Politics (care of Jill Richardson): -- Mr. Taylor is a lawyer who began his revolving door adventures as counsel to FDA. He then moved to King & Spalding, a private-sector law firm representing Monsanto, a leading agricultural biotechnology company. In 1991 he returned to the FDA as Deputy Commissioner for Policy, where he was part of the team that issued the agency's decidedly industry-friendly policy on food biotechnology and that approved the use of Monsanto's genetically engineered growth hormone in dairy cows."
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Credit Bubble Bulletin -- Mistakes Beget Greater Mistakes
Must Read - A quote...."Our federal government has set a course to issue trillions of Treasury securities and guarantee multi-trillions more of private-sector debt. The Federal Reserve has set its own course to balloon its liabilities as it acquires trillions of securities. After witnessing the disastrous financial and economic distortions wrought from trillions of Wall Street credit inflation (securities issuance), it is difficult for me to accept the shallowness of today's analysis. In reality, the paramount risk today has very little to do with prospective rates of consumer price inflation. Instead, the critical issue is whether the Treasury and Federal Reserve have set a mutual course that will destroy their creditworthiness - just as Wall Street finance destroyed theirs." -- For more on this issue see....Enforcing the Rules -- Too Little, Too Late - 02-27-09 - mpg

The biggest Ponzi scheme of all
A quote...."The United States is the world's largest Ponzi scheme. Americans buy stuff they don't have the money to pay for (because the generators of wealth, the factories, have been shifted overseas by the American oligarchs), and pay for it with IOUs. The rest of the world plays along, because it likes the short-term profits to be made from the insatiable greed of American consumers, and because it has no clue of how to make the merry-go-round stop. Neither the American government nor the United States itself can ever possibly pay what it owes. Never. Yet the prosperity of the rest of the world depends on financiers accepting the American accounts receivable and the American debt paper as being worth close to its face value."

Corruption World Champs, by Khalil Bendib
Cartoon

Geithner Update - Bend Over and Say, "Uncle Sam"
A quote...."March 24, 2009 "Information Clearing House" -- -- Timothy Geithner refuses to take underwater banks into receivership and resolve them, but has no problem transforming the FDIC into a hedge fund. Go figure? Here's what everyone needs to know: The US government (you) will provide up to 94 percent of the financing (low interest, of course) for dodgy mortgage-backed assets that no one in their right mind would ever buy so that wealthy and politically-connected banksters can scrub up to $1 trillion of red ink from their balance sheets. Ugh!"

Down the dark path
Satire - A quote...."I am in absolutely no possession of any historical evidence that 16th-century English jailers employed modern stand-up comedians to bring a bit of levity to their inheritantly bleak workspaces, but what if they had? What if, as the clock ticked down in the Tower of London before the execution of Sir Thomas More ordered by King Henry VIII in July 1535, a comic, in the style of the late Rodney Dangerfield, was brought in to do stand-up?"

Fiscal Plan Fails both Markets and Taxpayers
A quote...."Let's be clear: President Barack Obama inherited an economy in freefall and could not possibly have turned things around in the short time since his election. Unfortunately, what he is doing is not enough. -- The real failings in the Obama recovery program lie not in the stimulus package -- though it is too heavily weighted toward tax cuts, and much of it merely offsets cutbacks by states -- but in its efforts to revive financial markets. America's failures provide important lessons to countries around the world that are or will be facing increasing problems with their banks:"

Geithner’s Public Private Partnership Puts Public Most at Risk
A quote...."Tim Geithner’s at it again, doing somersaults, with hundreds of billions of federal money flying out of his pockets in the process, all to distract us from the more sensible course of action, which is to nationalize the insolvent banks." -- also posted at CommonDreams

Democrats prepare to ditch AIG bonus bill
A quote...."Within days of the overwhelming passage by the House of Representatives of a bill imposing a 90 percent surtax on bonuses awarded by the insurance giant American International Group (AIG) and other firms that have received government bailout money, the Democratic leadership in both the House and the Senate have signaled they will drop the measure."

Obama’s auto task force: a collection of Wall Street investors and asset strippers
A quote...."President Obama's auto task force has a March 31 deadline to approve updated restructuring plans by General Motors and Chrysler LLC under terms of the federal loan agreement. The task force—which has the power to revoke the loans and has not ruled out the use of the bankruptcy courts—is pressing for sharp reductions in the wages and benefits of autoworkers and a drastic downsizing of the auto industry." -- also posted at AmericanEveryman -- Contrast that plan of action with how "harshly" they treated the Banksters....with kid gloves and "do you want a cup of coffee along with another million (or trillion) to go with that Lear jet you have" concern. - mpg

Airlines group predicts big industry losses
A quote...."GENEVA: World airlines will lose $4.7 billion this year due to the economic crisis, while revenues will drop by more than after the Sept. 11, 2001 terrorist attacks in the U.S., a major industry association predicted Tuesday. -- The revised loss estimate, nearly double the previous forecast issued in December, reflects "the rapid deterioration of the global economic conditions," said the International Air Transport Association."

'No extra cash' for UK economy, Bank of England chief warns
A quote...."Gordon Brown has little or no scope to pour extra cash into the stricken economy, the Bank of England Governor has said in an unusual intervention on the state of the public finances."

Monday March 23rd 2009

The American Empire: A Finale
Must Read - A quote...."I am not cheered by the subject of my talk here today, which is the decline and fall of the American empire, first, because I am an American, and, second, because the description of America as an empire fits it all too well. When you remember that the American Revolution was fought against an imperial power, that U.S. was born in a struggle against an occupying army, and that its victory against the British was an inspiration to anti-imperialist liberals everywhere, it is a shaming thing to have to come here to describe how it ended in tragedy, betrayal, and a short and ugly decline."

Myth America
Must Read - A quote...."March 21, 2009 "Information Clearing House" -- -Since this country was founded, it has been governed, or controlled by the Robber Class. Some people call our “Lords,” the Ruling Class, the Oligarchy, the Kleptocracy, or Plutocracy. Some call our system Cronyism, a Democratic Tyranny, Soft-core Fascist State, or if you are a member of the Robber Class or Blinded Robbed Class, you call it a Democracy, or Republic."

Why Tax Cuts and Ruinous War Make this Crisis Worse Than the 'Great Depression'
Must Read - A quote...."Democrats have occupied the executive but eight of the last thirty years. The GOP, therefore, owns the decline and fall of both the American republic and its short lived empire. GOP policies are the cause of the collapse made even worse by calamitous and lost war of aggression in Iraq. Aggravating the crash is the lasting legacy and bone-headed policies of Reagan, Bush, and Shrub! We are living the consequences of several major, pernicious trends that began with the inauguration of Ronald Reagan:"

Obama and his Dick (Cheney)
Must Read - Obama™ Update -- A quote...."Here's how well they have us trained: The powers that be are no longer gonna call the illegally detained terrorism suspects (sic) by the name of "enemy combatants." Like the pre-programmed robots we've all become, we'll celebrate this as a welcome and much-needed change from the reviled Bush-Cheney administration. A step in the right direction, we might even say. --  In addition, the Pope of Hope has promised not to torture. Our society is so f-ckin' corrupt that a US president can announce—without shame—a purported plan to say no to committing crimes against humanity. Of course, we view this as "normal" and we foolishly believe him and even praise him."
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Most Unsurprising Headline of the Year (so far)
Some quotes...."From the New York Times:  After months of promises, only 5,000 Awakening members — just over 5 percent — have been given permanent jobs in the Iraqi security forces. Those promises were made last year when Iraq was flush with oil money. Now with Iraq’s budget badly battered by falling oil prices, the government is having trouble even paying existing employees, much less to bring in Sunni gunmen already regarded with much suspicion by the Shiite-led government." ---  "Chris Floyd:  Wow! Who could have seen that coming, eh? The insurgents that the Americans bribed to stop killing them so the "surge" could look good long enough to get the Iraq War off the front pages back home are being cast aside now that they're no longer of use? But wait -- weren't we just talking about this kind of thing, here and here?"

Economic conditions worsen in Iraq
A quote...."The assessments in Washington that Iraq will soon be a relatively stable US client state in the Middle East are beginning to look even more fanciful. After six years of occupation and repression, millions of Iraqis now face a further deterioration in their already appalling living standards due to the unprecedented collapse in world production and trade."

Iraqi oil output sliding for lack of investment
A quote...."Iraqi oil production is sliding and the slump will have grave consequences on the economy if new wells are not dug and new fields developed, a senior Oil Ministry official said. --  The official, who spoke on condition of anonymity, said the ministry has already issued several tenders to drill new wells in the currently producing fields."

6th anniversary of Iraq War by ~Latuff2
Cartoon - Click on the image to enlarge it. - mpg

Iraq six years later by ~Latuff2
Cartoon - Click on the image to enlarge it. - mpg
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"US will appoint Afghan 'prime minister' to bypass Hamid Karzai --White House plans new executive role to challenge corrupt government [that it installed] in Kabul 23 Mar 2009 The US and its European allies are ­preparing to plant a high-profile figure in the heart of the Kabul government in a direct challenge to the Afghan president, Hamid Karzai, the Guardian has learned. The creation of a new chief executive or prime ministerial role is aimed at bypassing Karzai. Many US and European officials have become disillusioned with the extent of the corruption and incompetence in the Karzai government [first US/Unocal coup d'etat], but most now believe there are no credible alternatives, and predict the Afghan president will win re-election in August." -- Pargraph quoted from CLG

"US seeks 'to bypass Afghan president' 23 Mar 2009 The US and European allies plan to create a new chief executive role in Afghanistan to bypass President Hamid Karzai, a report says. The Guardian reported on Monday that the creating of the role, possibly a prime ministerial role, will be followed by planting a high-profile figure in the heart of the Kabul government. [The US tires of its CIA assets, then kills thousands or millions of people in its 'do-overs.' Witness: Saddam Hussein, al-Qaeda (literally, 'the database'), Osama bin Carlyle Group, and Unocal's Hamid Karzai.]" -- Pargraph quoted from CLG

Pakistan's Democracy Movement Flexes its Muscles
A quote...."In an apparent, but by no means guaranteed, victory for pro-democracy forces, Pakistani President Asif Ali Zardari was forced to reinstate Supreme Court Chief Justice Iftikhar Mohammed Chaudhry and other judges dismissed by the Musharraf regime in 2007."

Senior PLO official killed in south Lebanon bombing
A quote...."A top Palestinian official and three other people were killed in a roadside bombing outside a restive refugee camp in southern Lebanon on Monday. Senior Palestine Liberation Organization (PLO) official Kamal Medhat, two of his bodyguards and another Palestinian official were traveling in a convoy when the bomb exploded at the entrance of the Mieh Mieh camp near the town of Sidon."

Hezbollah spends millions to rebuild stronghold
A quote...."BEIRUT (AFP) — Salam Hassoun is thrilled by the new flat Hezbollah has built for her to replace the one Israeli bombs destroyed during the 2006 summer war on the Lebanese Shiite movement. -- The war ravaged Beirut's southern suburbs, a Hezbollah stronghold that includes the teeming neighbourhood of Haret Hreik, where a mammoth Hezbollah-orchestrated reconstruction drive is underway."

Iran sets terms for U.S. ties
A quote...."Iran wants the United States to show concrete change [Concrete change - def. real, tangible, definable measurable, fact-based, reality based, actions that correspond to the standard definitions for those actions as specified in commonly agreed upon reference documents such as a dictionary or encyclopedia.] in its behavior toward it, for example by handing back frozen assets, but Tehran is not pursuing "eternal hostility," said Professor Mohammad Marandi at Tehran University."

Eric Margolis on Iran and the Media
A quote...."In the tumultuous era of bribery and conspiracy, where the majority of political equations in the east and west are based on depraved arrangements, journalists must be practically artists and craftsmen to remain independent and out of harm's way."

A leader of Georgia opposition party Zurab Avaliani detained in Batumi
A quote...."TBILISI, March 23 (Itar-Tass) - Chairman of the regional branch of the opposition party “Democratic Movement – United Gerogia” Zurab Avaliani was detained in Batumi on Monday, representatives of the branch told journalists. According to them, “Avaliani was detained by officers of the law enforcement bodies in his house in Batumi at dawn, small arms were confiscated during a search.”

Saakashvili destroys Georgia by his policy - Burdzhanadze
A quote...."TBILISI, March 23 (Itar-Tass) - Georgian President Mikhail Saakashvili “by his actions and policy has ruined his political career and destroyed the country,” Georgian ex-parliament speaker who quit in opposition Nino Burdzhanadze said in an interview published by the Tbilisi-based Rezonansi news paper on Monday. Burdzhanadze noted: “The sooner Saakashvili resigns the better both for him and for Georgia.”

China confirms plans to build aircraft carrier
A quote...."BEIJING, March 23 (RIA Novosti) - China's defense minister has reaffirmed the country's plans to build its own aircraft carrier, the Sina news agency reported on Monday. - It quoted Liang Guanglie as saying that "among the big world powers only China does not have an aircraft carrier, so it cannot be without an aircraft carrier forever."

SouthAm Ministers Meet in Caracas
A quote...."Caracas, Mar 23 (Prensa Latina) Seven South American Finance Ministers are meeting on Monday in Caracas to continue shaping the Bank of the South. -- Finance ministers of Argentina, Uruguay, Paraguay, Ecuador, Bolivia and Brazil, plus Venezuela, are expected to attend the meeting, President Hugo Chavez announced."

Honduras Helped by ALBA
A quote...."Tegucigalpa, Mar 23 (Prensa Latina) The illiteracy campaign developed by Honduras will receive 10 million dollars by the financial support of the Bolivarian Alternative for the Peoples of Our America (ALBA), said the local press Monday."

Uruguayan president in China to promote trade and investments
A quote...."[Visiting Uruguayan president Tabare] Vazquez  arrived at Beijing last Saturday for an official visit with the purpose of promoting trade, investment and cooperation with Uruguay’s second trade partner. Bilateral trade last year reached 1.6 billion US dollars, with Uruguayan exports totalling 600 million US dollars."

The Lobby Falters
Some quotes...."By John Mearsheimer - Many people in Washington were surprised when the Obama administration tapped Charles Freeman to chair the National Intelligence Council, the body that oversees the production of National Intelligence Estimates:"  --  "Predictably alarmed, the Israel lobby launched a smear campaign against Freeman, hoping that he would either quit or be fired by Obama. The opening salvo came in a blog posting by Steven Rosen, a former official of Aipac, the American Israel Public Affairs Committee, now under indictment for passing secrets to Israel. Freeman’s views of the Middle East, he said, ‘are what you would expect in the Saudi Foreign Ministry, with which he maintains an extremely close relationship’. Prominent pro-Israel journalists such as Jonathan Chait and Martin Peretz of the New Republic, and Jeffrey Goldberg of the Atlantic, quickly joined the fray and Freeman was hammered in publications that consistently defend Israel, such as the National Review, the Wall Street Journal and the Weekly Standard." -- For more on this issue see....Judeo-Christian C/C & US - The Media
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The Forked-Tongue Eunuchs and Israel
Must Read - A quote...."March 21, 2009 "Information Clearing House" -- -- If rhetoric is the first step toward action, then one of the rhetorical trends of our time indicating a giant step backward toward inaction is the American and European tendency to describe Israel's aggressive and illegal actions in the occupied Palestinian territories in increasingly soft and imprecise terms."

Malcolm X on Zionism
A quote...."The Zionist armies that now occupy Palestine claim their ancient Jewish prophets predicted that in the “last days of this world” their own God would raise them up a “messiah” who would lead them to their promised land, and they would set up their own “divine” government in this newly-gained land, this “divine” government would enable them to “rule all other nations with a rod of iron.” -- If the Israeli Zionists believe their present occupation of Arab Palestine is the fulfillment of predictions made by their Jewish prophets, then they also religiously believe that Israel must fulfill its “divine” mission to rule all other nations with a rod of iron, which only means a different form of iron-like rule, more firmly entrenched even, than that of the former European Colonial Powers." -- For more on this issue see....A Mortal Threat – Europe’s New Frankenstein Monster - 01-26-09 - mpg

The 'Game' Called War
A quote...."My understanding of a war is two opposing nations fighting each other to the death. I have never seen a war where it was not armies that were involved in such conflicts….. at least not until I moved to Israel.  --  Israel has created an enemy of a nation which it claims does not even exist. It has, for the past 61 years, occupied the land belonging to that nation. It has denied them every basic human right guaranteed them by the United Nations. It has ignored every condemnation against them by the World Body as well as a handful of other nations.  --  It has waged war against this nation….. a nation without an army. Who then are the targeted ones? The civilians….. innocent children and mothers." -- also posted at Uruknet

Choosing between Funding and National Cause
A quote...."The policies of the Israeli governments and the settlers' movement have rendered the chances for a real durable peace and the so called 'two-state solution' dead, even if some Arab and Palestinian leaders are still optimistic about the prospects for a just peace."

Will Israel be brought to book?
A quote...."Evidence of the scale of Israel’s war crimes in its January onslaught on Gaza is becoming unanswerable. Clancy Chassay’s three films investigating allegations against Israeli forces in the Gaza strip, released by the Guardian today, include important new accounts of the flagrant breaches of the laws of war that marked the three-week campaign – now estimated to have left at least 1,400 Palestinians, mostly civilians, and 13 Israelis dead."

Canada becomes the first and only country in the world to ban British MP George Galloway
A quote...."George Galloway, a  British Member of Parliament, author, and talk show host,  has been banned from entering Canada after the Jewish Defence League of Canada wrote “an open letter to the country's government urging it to do ‘everything possible to keep this hater away’.”

Banning British MP a clumsy, dangerous move
A quote...."Jason Kenney has gone over the edge. The increasingly erratic immigration minister made headlines last week when, in a fit of pique, he cut off funding to an Arab organization that helps newcomers learn English. Now, Kenney has banned British MP George Galloway from entering Canada, on the spurious grounds that he supports Middle East terrorism." -- also posted at ICH

Israel soldier calls order during Gaza assault 'murder'
A quote...."Soldiers' accounts of two killings of women and children appeared Thursday in Haaretz and Maariv. Both papers followed up Friday with lengthy excerpts of the soldiers’ comments about confusion and doubt over the rules of engagement during the 22-day offensive, which left an estimated 1,400 Palestinians dead." -- While Obama stood by and did NOTHING one might add. - mpg -- For more on this issue see....Israel Pauses (Politely) for the Emperor's Coronation - 01-16-09 - mpg

IDF Soldiers Ordered to Shoot at Gaza Rescuers, Note Says
A quote....""Rules of Engagement: Open fire also upon rescue," was handwritten in Hebrew on a sheet of paper found in one of the Palestinian homes the Israel Defense Forces took over during Operation Cast Lead. A reservist officer who did not take part in the Gaza offensive believes that the note is part of orders a low-level commander wrote before giving his soldiers their daily briefing."

Israel used Gaza boy as 'human shield'
A quote...."The United Nations has made a stand against the war on Gaza, confirming that Israeli soldiers have seriously breached humanitarian law. -- A group of UN human rights experts said on Monday that Israeli forces had used an 11-year-old Palestinian boy as a human shield and to protect themselves from being shot by fighters in the Gazan neighborhood of Tel al-Hawa."

Palestinian brothers: Israel used us as human shields in Gaza war
A quote...."Israel has been accused of using Palestinian human shields during its invasion of Gaza, a breach of the Geneva conventions that prohibit intentionally putting civilian lives at risk.The Guardian has interviewed three Gazan brothers who described how they were taken from their home at gunpoint, made to kneel in front of tanks to deter Hamas fighters from firing and sent by Israeli soldiers into Palestinian houses to clear them."

Israel arrests Hamas negotiators
A quote...."Arrests have been made in the West Bank following the collapse of indirect negotiations between Israel and Hamas this week -- Israeli soldiers arrested senior members of Hamas, after they had failed to reach agreement on an Egyptian brokered prisoner swap."

Palestine: Israeli police violently prevent cultural event
A quote...."1pm, 23rd March, Sheikh Jarrah, Occupied East Jerusalem, (The International Solidarity Movement): Israeli police violently disbanded an event held in conjunction with the Jerusalem Capital of Arab Culture festival in Sheikh Jarrah, occupied East Jerusalem."

Egypt seizes 560 sheep being smuggled into Gaza via tunnels
Yes, those deadly sheep bombs have to be stopped at all costs! - mpg -- A quote...."Egyptian police have seized a flock of 560 sheep set to be smuggled into the Gaza Strip through underground tunnels, a security official said Monday. -- The flock was discovered on Sunday night, along with the entrances to six tunnels in the Salah el-Din district north of the Rafah border crossing, the official said."
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Civilian Force Of 60,000 Trained As "Terrorist" Spotters
This website editor believes the correct term for these people would be the one used for the East German Secret Police....the Stasi. - mpg -- A quote..."MI5 is currently training up to 60,000 UK citizens as part a civilian network of terrorist spotters, according to Prime Minister Gordon Brown and home secretary, Jacqui Smith."

US gagged Gitmo detainee over torture - UK court
A quote...."Documents presented in Britain’s High Court suggest US authorities offered a Guantanamo Bay detainee freedom in exchange for his silence on being tortured and for agreeing not to sue the US and ‘any of its allies’"

Death squad leader ‘was top CIA agent’
A quote...."THE LATE President Milosevic's secret police chief and organiser of Serb death squads during the genocidal ethnic cleansing of disintegrating Yugoslavia was the United States' top CIA agent in Belgrade, according to the independent Belgrade Radio B92." -- also psoted at RogueGov & Dprogram

Historical Archives Lead to Arrest of Police Officers in Guatemalan Disappearance
A quote...."Washington, DC, March 17, 2009 -- Following a stunning breakthrough in a 25-year-old case of political terror in Guatemala, the National Security Archive today is posting declassified U.S. documents about the disappearance of Edgar Fernando García, a student leader and trade union activist captured by Guatemalan security forces in 1984. The documents show that García's capture was an organized political abduction orchestrated at the highest levels of the Guatemalan government."

Demolition Theory Hypothesis
A quote...."The following is a quick outline of what I believe happened to cause the collapse of the World Trade Centers on Sept. 11, 2001.  It is an attempt to show that conventional demolition materials could have been, and probably were used in the demolition process. This is only PART of a larger work that I am putting together incorporating technical information of PETN (det cord), findings of Steven Jones (iron rich micro-spheres), dust particle contents reported by several sources, images showing the different colored clouds formed during the demolition of the towers, lateral ejections of large (complete) sections of exterior column assemblies,  missing floor systems (trusses and floor pans), and images of the steel and concrete dust at ground zero."

Obama Secretly Ends Program That Let Pilots Carry Guns
False Flag Update - A quote...." After the September 11 attacks, commercial airline pilots were allowed to carry guns if they completed a federal-safety program. No longer would unarmed pilots be defenseless as remorseless hijackers seized control of aircraft and rammed them into buildings. -- Now President Obama is quietly ending the federal firearms program, risking public safety on airlines in the name of an anti-gun ideology." -- For more on this issue see....9/11 - NORAD

A thank you
A quote...."(WMR) -- The editor wishes to extend a thank you to the many readers around the United States and abroad who have phoned and e-mailed offering their support after the arrest incident in Alexandria, Virginia, this past Tuesday."
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Existing-home sales rise on 'deep' discounting - Sales up 5.1% in Feb. while prices drop 15.5% in past year, NAR says
A quote...."WASHINGTON (MarketWatch) -- Sales of U.S. pre-owned homes rose 5.1% to a seasonally adjusted annual rate of 4.72 million in February, boosted by "deep" price discounts, the National Association of Realtors reported Monday. -- It was the largest percentage gain since July 2003. -- Sales are down 4.6% in the past year, the industry trade group reported. February's sales increased in all four regions as tracked by the NAR. -- Sales of foreclosed properties or short sales accounted for about 45% of transactions last month the real estate trade group said. Distressed homes are selling for 20% below "normal market prices," the realtors said."

WTO foresees 9-percent global trade decline in 2009
A quote...."GENEVA, March 23 (Xinhua) -- Global trade will decline by some 9 percent in volume terms this year, the biggest such contraction since the Second World War, the World Trade Organization (WTO) said in a report on Monday."

Trade Barriers Rise as Slump Tightens Grip
Related Article - A quote...."WASHINGTON — After repeated pledges by world leaders to avoid erecting trade barriers, protectionism is on the march, provoking nasty trade disputes and undermining efforts to plot a coordinated response to the deepest global economic downturn since World WarII. -- From a looming battle with China over tariffs on carbon-intensive goods to a spat over Mexican trucks using American roads, barriers are going up around the world. As the recession’s grip tightens, these pressures are likely to intensify, several experts said."

The Best Way to Predict the Stock Market and the Economy
Special Note - Analysis - A quote...."So what's Arnold's forecasting method? -- He simply charts the number of 45-54 year olds in the population at any given time. This number is easy to calculate from census or birth records, and immigration numbers (immigrants average a certain age when they arrive, from which you can estimate how many will turn 45, 46, etc., in a given year)."

As credit markets froze, banks loaned millions to insiders
A quote...." CHARLOTTE, N.C. — Banks nationwide hold $41 billion in loans to directors, top executives and other insiders, a portfolio that experts say should be stripped of secrecy. -- Insider lending to directors is particularly troublesome because it could cloud the judgment of people charged with protecting shareholders and overseeing bank management, the experts say." -- also posted at RogueGov

Hennecke: Trillion Dollar Bailouts Will Lead To Destruction Of Western Currencies
A quote...."Associate Director of Tyche Martin Hennecke warned in a CNBC interview this morning that actions such as the Treasury’s announcement today to buy $1 trillion more of toxic debt, allied with last week’s announcement by the Fed to throw a further $1 trillion at the problem, is merely a continuation of what caused the crisis in the first place and that such measures will ultimately lead to the destruction of major western currencies and staggering hyperinflation. -- Hennecke said that the Fed was just throwing new money at the problem and repeating the very same actions that caused the crisis in the first place."

Timothy Geithner's toxic plan
A quote...."Treasury secretary Timothy Geithner's latest bank bailout plan is another Rube Goldberg contraption intended to funnel taxpayer dollars to bankrupt banks, without being overly transparent about the process. The main mechanism is a government guarantee that would allow investors to buy junk with a 12-to-1 leverage ratio, where they only risk the downside on their own investment, not the borrowed money." -- also posted at CommonDreams

Financial Policy Despair
A quote...."But the Obama administration, like the Bush administration, apparently wants an easier way out. The common element to the Paulson and Geithner plans is the insistence that the bad assets on banks’ books are really worth much, much more than anyone is currently willing to pay for them. In fact, their true value is so high that if they were properly priced, banks wouldn’t be in trouble. -- And so the plan is to use taxpayer funds to drive the prices of bad assets up to “fair” levels. Mr. Paulson proposed having the government buy the assets directly. Mr. Geithner instead proposes a complicated scheme in which the government lends money to private investors, who then use the money to buy the stuff. The idea, says Mr. Obama’s top economic adviser, is to use “the expertise of the market” to set the value of toxic assets."

What ARE the Toxic Assets Everyone Is Talking About?
A quote...."Paul Krugman has already eviscerated Geithner's toxic asset plan in the New York Times (see this, this and this). So have Yves Smith, Mish and many others. -- But very few are taking a step back and addressing a more basic question: what are the toxic assets that Geithner is throwing taxpayer money at?"

State considers return to gold, silver dollars
A quote...."A bill being considered in the Montana Legislature blasts the Federal Reserve's role in America's money policy and permits the state to conduct business in gold and silver instead of the Fed's legal tender notes." -- also posted at Dprogram

Sunday March 22nd 2009

No posts. - mpg

Saturday March 21st 2009

The Big Takeover
Must Read - Obama™ Update -- A quote...."It's over — we're officially, royally f-cked. no empire can survive being rendered a permanent laughingstock, which is what happened as of a few weeks ago, when the buffoons who have been running things in this country finally went one step too far. It happened when Treasury Secretary Timothy Geithner was forced to admit that he was once again going to have to stuff billions of taxpayer dollars into a dying insurance giant called AIG, itself a profound symbol of our national decline — a corporation that got rich insuring the concrete and steel of American industry in the country's heyday, only to destroy itself chasing phantom fortunes at the Wall Street card tables, like a dissolute nobleman gambling away the family estate in the waning days of the British Empire." -- also posted at RogueGov

The virtues of public anger and the need for more
A quote...."With lightning speed and lockstep unanimity, opinion-making elites jointly embraced and are now delivering the same message about the public rage triggered this week by the AIG bonus scandal:   This scandal is insignificant.  It's just a distraction.  And, most important of all, public anger is unhelpful and must be contained or, failing that, ignored. -- This anti-anger consensus among our political elites is exactly wrong.  The public rage we're finally seeing is long, long overdue, and appears to be the only force with both the ability and will to impose meaningful checks on continued kleptocratic pillaging and deep-seated corruption in virtually every branch of our establishment institutions.  The worst possible thing that could happen now is for this collective rage to subside and for the public to return to its long-standing state of blissful ignorance over what the establishment is actually doing." --  also posted at CommonDreams

Smoke and Dust
Photos -- A quote...."Some of you know I am still looking into the use of det cord in the process of controlled demolition in the twin towers.  Well, during the other part of the research I am doing, I noticed something else; color differences between the smoke from the explosions and the dust kicked up from the demoed concrete slabs.  I noticed this first when watching a video of another “top down demolition” filmed years ago."
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Larry Silverstein asks for a bailout
File this under the "believe it or not category". - mpg -- A quote...."This is the same guy who wanted double his insurance policy's value after the devastating 2001 attacks because each airplane impact, as he said, was actually a separate act of terrorism. -- And that's the Nice on some of the bad press surrounding Silverstein ... Most know him best from his eternally curious comment to PBS shortly after the collapse of WTC 7. -- Is this a worthy use of tax dollars by the Port Authority?" -- Some more quotes from the comments section.....
"He should be in jail. Ask him under oath if he knew those buildings were laden as "White Elephants" due to the asbestos covering the steel frame-which would have cost him billions to renovate. Building 7 held the Port Authority legal documents pertaining to this". -- *CaptainCrunch*

"Larry Silverstein was in on the planned demolition of the world trade center buildings. He is an accomplice to murder and treason". -- *John*

"Waterboard the bastard". -- *David Hasselhoff*

"This Guy is a Mass Murderer.....WTF????  What did he do with the Insurance Money he got for Buildings 1,2, + 7 ???  He should be Hanged until Dead!!!" -- *Dennis*

"Piano wire for this jerk. Are we so gullible to believe the 9-11 fairy tale and bail this guy out? Those buildings did not collapse due to the planes alone. He is complicit in this scam'". -- *Jeff*

*Unless or until the 911 tragedy is solved and the true perpetrators brought to justice, chaos will continue worldwide. Americans can choose to ignore the truth, and become slaves to the sisister forces operating behind the scenes or research the facts and free themselves of the noose that is tightening around their collective necks*. -- *Bob*

And some even LESS polite comments.  --  For more on this entire issue see.... ||  9/11 - NORAD  ||  9/11 - WTC7  ||  9/11 - Commission  ||  Flights 9/11  ||  9/11 - Punish or Reward  ||  9/11 - WTC-1&2  ||
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Iraqi Holocaust : 2.3 Million Iraqi Excess Deaths
Must Read - A quote...."March 20, 2009 marks the 6th anniversary of the illegal, utterly unjustified, war criminal invasion of Iraq by US, UK and Australian forces. Post-invasion violent and non-violent excess deaths total 2.3 million and refugees total 6 million in a continuing Iraqi Holocaust and Genocide."

What Happened to the War?
A quote...."The war should have been an issue in the election. It wasn’t. And thanks to the disaster that is the Republican revolution that wasn’t, it didn’t even have to be. We hardly heard about the war after the Democratic and Republican presidential conventions. Republicans were perfectly willing to exchange one war criminal for another. Many Democrats only opposed the war because it was a Republican war. And now that Obama is president, no one from either party seems to mind that he wants to send 17,000 more U.S. troops to Afghanistan."

More than 20 Types of War Crimes Against Children Ascribed to Ex-Pres. Bush in Iraq and Afghanistan
A quote...."Torture has received the most attention among the many war crimes of the Bush administration. But those who support Bush’s pursuit of the “war on terror” have not been impressed by recriminations over torture. Worse than torture are the murders of at least 50 prisoners in Abu Ghraib, Afghanistan, and Guantánamo, but again the hard-hearted are unimpressed when those whom they perceive as terrorists receive illegal extrajudicial capital punishment." -- For more on this issue see....US - Torture & Sex Perv.  & US - Murder & Mayhem

The Meaning of the CIA's 3,000 Pages of Destroyed Interrogation Tapes
A quote...."What does the fact that the CIA destroyed numerous videotapes of Guantanamo interrogations, but has 3,000 pages of transcripts from those tapes really mean? -- Initially, it means that CIA's claim that it destroyed the video tapes to protect the interrogators' identity is false. Why? Well, the transcripts contain the identity of the interrogator. And the CIA is refusing to produce the transcripts."

Protests in Washington, Calif. call for war's end
A quote...."WASHINGTON – Before war protesters ended their demonstration Saturday afternoon, several placed cardboard coffins in front of the offices of northern Virginia defense contractors such as KBR Inc. and Lockheed Martin Corp. as riot police stood by."

War on America
Chart - A vivid graph of the accelerated incarceration rates for Americans now living in the New Roman Empire. - mpg

Definition of CHANGE: Global War on Terror, Fake Nukes In Iran, and Comprehensive Immigration Reform
Obama™ Update -- A quote...."Obama and Perez of Israel both made a video message for the people of Iran attempting to reach out to them while still falsely accusing Iranian leadership of attempting to make nuclear weapons.  Sounds a little like Bush’s message to the people of Iraq, now doesn’t it?"

Khamenei Adopts a Wait and See Attitude to Obama; "If You Change Your Attitude, We Will Change Ours"
A quote...."Iran's Supreme Leader Ayatollah Ali Khamenei  said Saturday, "Of course, we have no prior experience of the new president of the American republic and of the government, and therefore we shall make our judgment based on his actions." -- The US corporate media mysteriously interpreted Khamenei's words as a rebuff to Obama, but in light of the phrase I just quoted, I can't understand how they reached that conclusion. Certainly, he did say repeatedly that Iran has had a pretty horrible experience with the United States, and that it would take more than some nice words to change Iranian minds about Washington. You could say that this was a grumpy old man response to Obama's call for engagement. But you can't call it a rebuff, since Khamenei explicitly says that he has no basis for making a judgment about the Obama administration as yet, and will respond to its actual concrete policies." -- People have to understand the Iranians are part of the "reality based", "fact based" community.  There they were, right next door to Iraq these last six years while the US-NRE bombed that country to smithereens all the while saying it was trying to bring the Iraqis "freedom and democracy" and trying to "help" the Iraqis.  The Iranians are not blind, deaf, dumb or stupid, they can see perfectly well how the US-NRE conducts its "business". - mpg

Rebel Georgian minister going home to oust president
Ahem! Nice photo, is Okruashvili suggesting anything? - mpg -- A quote...."Irakli Okruashvili, an ex-minister under President Mikhail Saakashvili who turned to opposition and fled the country, is planning a comeback from exile despite the 11-year jail sentence he faces in Georgia. -- Okruashvili, who heads a Georgia opposition party, is in political asylum in France. The exact date of his return was not revealed, but it will be ‘soon’, according to the AFP news agency. Earlier his party officials said he will join protests against President Saakashvili.

Canada can't muzzle me
A quote...."By George Galloway -- The Canadian immigration minister Jason Kenney gazetted in the Sun yesterday morning that I was to be excluded from his country because of my views on Afghanistan. That's the way the rightwing, last-ditch dead-enders of Bushism in Ottawa conduct their business."

'1000% rise in Jew attacks on Arabs'
A quote...."A research by an Arab human rights group shows a ten-fold increase in Jewish attacks on the Arab population in Israel over the last year."

Syria: War with Israel still on the go
A quote...."Syria reasserts its opposition to Israel and the occupation of Palestinian land, ruling out any talks in default of a Tel Aviv climb-down."

WAYNE MADSEN REPORT - Special Donation >>> Error <<< Alert
A NOTE TO DONORS TO THE WAYNE MADSEN LEGAL DEFENSE FUND
A quote...." .....bad news. Apparently, Hotmail (Microsoft), which is the ultimate e-mail destination for notification of donations to wmreditor@waynemadsenreport.com, blocked all e-mails from PayPal indicating that you had made a contribution. That resulted in PayPal placing all your donations in an unclaimed payments file."
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Obama budget projected at $9.3 trillion in next 10 years
They're just being silly, it'll be ALOT more than that. - mpg -- Obama™ Update -- A quote...."WASHINGTON: President Barack Obama's budget proposals, if carried out, would produce a staggering $9.3 trillion in total deficits over the next decade, much more than the White House has predicted, the Congressional Budget Office said on Friday."

AIG bonuses $218 million, not $165 million, A.G. says
A quote...."AIG Financial Products handed out $218 million in bonuses, not $165 as had been previously reported, Connecticut Attorney General Richard Blumenthal said this morning."

'Break up the banks, bust the trusts!' exclaims Olbermann
Contains A Must View Video - A quote...."Keith Olbermann used his Thursday Special Comment on MSNBC's Countdown to lay out one of his most impassioned tirades yet, this time a diatribe against "the latest atrocity" from banks he feels the US should "break up" and regulate "to within an inch of their existences."

Rachel Maddow - AIG Chief on the Hotseat - (MSNBC - 11 min 3 sec - March 19th 2009)
Must View Video - Rachel Maddow takes on the AIG fiasco.  It's fun. - mpg

Despair over financial policy -- Try RAGE!! - mpg
Obama™ Update -- A quote...."The Geithner plan has now been leaked in detail. It’s exactly the plan that was widely analyzed — and found wanting — a couple of weeks ago. The zombie ideas have won. --  The Obama administration is now completely wedded to the idea that there’s nothing fundamentally wrong with the financial system — that what we’re facing is the equivalent of a run on an essentially sound bank. As Tim Duy put it, there are no bad assets, only misunderstood assets. And if we get investors to understand that toxic waste is really, truly worth much more than anyone is willing to pay for it, all our problems will be solved." -- also posted at CommonDreams

The Collapse of ’09
A quote...."Because most people don’t live and shop on Wall Street, the "Panic of ’08" was viewed by Main Street as if from afar – even though many were losing money. But when commercial real estate crashes it will hit much closer to home. The depressive atmosphere of thinly shopped, half-vacant malls will strike emotional chords and all the senses."

Commercial mortgages and the “black hole”
Chart - A quote...."Leon Black of Apollo Capital is quoted in the Financial Times warning that commercial real estate losses will create a “black hole” in bank balance sheets. -- Y’think? As a matter of fact, I used the same term myself some months ago. -- Here is the spread to LIBOR of 5-year AAA-rated CMBS securities: (see chart)

Q4 flow of funds - Conclusion: so far Bernanke is keeping up....for the moment. - mpg
Market Tech Note - Some quotes...."The Federal Reserve's Z1 Flow of Funds reports remain fascinating in today's post-bubble landscape. The basic thrust of my credit bubble analysis these days is that the highly maladjusted US (finance and "services" driven) bubble economy requires in the neighborhood of US$2.0 trillion of annual credit growth to hold implosion at bay. Recent dramatic financial and economic tumult - especially during the fourth quarter - supports this view." -- " The unfolding government finance bubble has been somewhat able to mitigate the implosion of Wall Street finance. But the greater dilemma is two-fold: On the one hand, the distorted economy requires massive ongoing credit creation. Here, government finance can and has taken up the slack. However, the nature of spending created by the inflation of government obligations will remain quite dissimilar to that spurred by the runaway inflation of Wall Street finance. The flow of finance has been permanently altered. There will be no rejuvenating the previous asset inflation and consumption booms. Indeed, the household (and non-profits) balance sheet rather starkly illustrates the nature of the problem." -- In otherwords it's gonna be ALL Government money, ALL the time,  for the forseeable future. - mpg

Robbery Writ Monumental
A quote...." Correct me if I’m wrong: -- Bernanke’s Fed is colluding with Geitner’s Treasury to monetize massive amounts of government debt, releasing the Head Clown and the clowns in Congress to spend themselves silly because the Fed will simply provide infinite money more directly than ever. -- Had I realized these creeps were so creative in stealing what I’ve sacrificed to save, I’d have simply consumed it like all the rest of the sheeple in America. At least I’d have enjoyed the party I could have thrown."

Calamitous day sees banks, credit unions seized
A quote...."SAN FRANCISCO (MarketWatch) -- The pace of the ongoing credit crisis quickened significantly Friday when regulators seized three banks and placed two large corporate credit unions into conservatorship, citing a need to "stabilize the corporate credit union system."

Dollar Declines Most Since 1985 Plaza Accord on Fed Bond Buying
A quote...."March 21 (Bloomberg) -- The dollar dropped the most against the currencies of six major U.S. trading partners since the Plaza Accord almost a quarter-century ago as the Federal Reserve’s plan to purchase Treasuries spurred speculation that it’s debasing the greenback." -- also posted at RogueGov

Falsehoods (13) and Myths (4) of National Economic Policy
A quote...."Of late, the FED has been inflating the currency more than its usual degree. The FED is intentionally depreciating the value of the dollar, which is the same as saying that it is raising the prices of various goods and services."

California’s Unemployment Rate Rises to 26-Year High [10.5 percent] (Update1)
You'll probably see 15 percent before the year is over. - mpg -- A quote...."March 20 (Bloomberg) -- California’s jobless rate surged in February to the highest level since 1983 while unemployment in Oregon and Nevada climbed above 10 percent for the first time in more than two decades."

China has conditions to achieve 8% growth target in 2009: official
A quote...."BEIJING, March 22 (Xinhua) -- Conditions are favorable for China to achieve the 8 percent economic growth target it set this year, Zhang Yutai, president of the Development Research Center of the State Council said here Sunday at the China Development Forum 2009."

Friday March 20th 2009

Our Shame - posted at ICH
Must Read - A quote...."By Cindy Sheehan -- Six years and over a million lives later, our military is still shamefully in Iraq. Our "Peace President" has created no positive change there and is in fact extending the length of the deployment of "combat troops." The country has been ethnically cleansed. Violence is down because everyone there is either dead, displaced or too poor, wounded or frightened to move let alone continue fighting. Violence is down, but not out, and you can bet there will be a strong US military presence in Iraq until every last drop of oil has fallen into the hands of foreign oil companies." -- Cindy Sheehan won nearly seventeen percent of the vote when she ran against Nancy "take impeachment off the table" Pelosi during the 2008 elections.  That's an amazing percentage for a first time candidate against one of the most powerful, well connected, and well funded of politicians who also happened to be the recently elected leader of the house.  Still it was San Francisco's shame that they didn't vote Pelosi out and Sheehan in.  And we're all going to pay for that "choice" for a very long time. - also posted at Uruknet -- For more on this issue see....The City by the Bay - Sophistry and "Liberal" Hot Air or Principals - It's Time to Choose - 10-29-08 - mpg

Annals of Liberation: The Agony of Iraq's Women
Must Read - A quote...."On the anniversary of the first great war crime of the 21st century -- the unprovoked, unnecessary, illegal ground invasion* of Iraq by the United States and its lap-dog "Anglosphere" allies Britain and Australia, and a few other minor accomplices in mass murder -- Yifat Susskind at American Forum (via Antiwar.com) tells us what this "liberation" has brought to Iraq's women:"

Barack Obama and the Altar of Greed  - posted at ICH
Must Read - Obama™ Update -- A quote...."If you think that I'm exaggerating when I say that Obama may be betting his entire promising presidency by taking the wrong side in this AIG scandal, think again. His presidency rises and falls on essentially one question: Is he doing everything he can to fix the economy? In order to fix the economy, given the astonishing mess he's inherited, he is going to continue to need unprecedented forbearance from the public and Congress so as to take unprecedented steps. People are already freaking out at what has been done and what has been spent, and we're only just starting the rescue, with all its enormous costs. The Republicans, who made this mess, are going to try to block Obama at every turn. The president needs to convince the public to trust him and follow him, if he is going to win the legislation necessary fix the economy. -- But if people see that Obama is using their hard-earned tax money to reward the predatory parasites at AIG, even after they've wrecked everything in sight, how is he ever going to get public support for spending another trillion bucks to repair the economy? And if he can't get the tools necessary to do the job, how can he ever expect it to get fixed? And if it doesn't get fixed, how can he expect to have a successful presidency?" -- That all depends on your definition of "successful".  If you believed Obama's bull sh-t about helping the "little people" then what he's doing doesn't make any sense at all, if on the other hand you understood from the very beginning that he was "selected" by our wealthy elites to make them even richer than they already are, everything he's done so far makes perfect sense....he's just doing the job he was hired for. – mpg - also posted at CommonDreams & CounterPunch

Nobel Economists Slam Obama's Economic Policy
Obama™ Update -- A quote..."At every stage, Geithner et al have made it clear that they still have faith in the people who created the financial crisis — that they believe that all we have is a liquidity crisis that can be undone with a bit of financial engineering, that “governments do a bad job of running banks” (as opposed, presumably, to the wonderful job the private bankers have done), that financial bailouts and guarantees should come with no strings attached. -- This was bad analysis, bad policy, and terrible politics. This administration, elected on the promise of change, has already managed, in an astonishingly short time, to create the impression that it’s owned by the wheeler-dealers." -- *Paul Krugmam*

GOLDMAN SACHS = Obama's biggest backer?
Obama™ Update -- Full quote..."OK, I know there's been all this stuff about how Hillbama is a two-headed corporate monster, but I was still a bit surprised by a link that was posted on another thread. Barack Obama's top contributor is GOLDMAN SACHS? With a donation of ....$369,078 -- For more on this issue see....AIG, Goldman Sachs, Paulson And Buffet

Some Other Contributors and Their Contributions:
Lehman Brothers - $229,090
JP Morgan Chase & Co - $216,759
Exelon Corp - $194,750
Citigroup Inc - $180,650
Citadel Investment Group - $166,600
UBS AG - $146,150
Time Warner - $142,718
UBS Americas - $106,680
Morgan Stanley - $104,425
Credit Suisse Group - $92,300

On the Edge of the Volcano
Obama™ Update -- A quote..."Since last September Barack Obama has been trying to pull off the tricky shot of backing bailout schemes at taxpayers’ expense for the Wall Street operators who have brought the economy to its knees, while simultaneously presenting himself as a populist crusader battling for economic justice and the regular folks on Main Street. Right now, for the first time since he was elected president, he’s perilously close to plummeting from this high wire act and ending up publicly derided as Mr Facing-Both-Ways, a toxic label for a man whose moral keynote has always been that he’ll play it straight with the American people. "

Obama maneuvers to protect Wall Street bonuses
Obama™ Update -- A quote...."Following the passage Thursday of a bill by the House of Representatives that would tax some bonuses at a handful of companies that have received government bailout money, the Obama administration is seeking to discourage passage of a similar bill by the Senate, even as Obama feigns indignation over $165 million in bonuses awarded by the bailed-out insurance giant American International Group (AIG)."

Obama’s Moment is Passing [Has Passed] Quickly - Article also posted at ICH
Obama™ Update -- A quote...."He should promptly demand Geithner's and Summers' resignations, and should also fire the CEO of AIG, Edward Liddy (as 80% owner of AIG, the US has the power to do that anytime). It would also be a good idea at the same time to fire the CEOs of all the leading banks that are at this point surviving on government bailouts. -- This would allow Obama to correct the fundamental mistake he made during the transition period following the November election in installing a bunch of Clinton-era economic advisors and Bush holdovers to be his economic team."
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Intelligence made it clear Saddam was not a threat, diplomat tells MPs
Special Note - A quote...."A former diplomat at the centre of events in the run-up to the Iraq war revealed yesterday that the government has a "paper trail" that could reveal new information about the legality of the invasion."

Iraq's Shiites call for end of US occupation
A quote...."BAGHDAD (AFP) – Thousands of followers of the radical Shiite cleric Moqtada al-Sadr called for an end to US occupation of Iraq on Friday, but the government ignored the sixth anniversary of the invasion." -- also posted at WarInIraq

Sadrists stage demonstration in Thi-Qar to demand prisoners’ release
A quote...."THI-QAR / Aswat al-Iraq: The Sadrists, or Iraqis loyal to Shiite leader Muqtada al-Sadr, staged a demonstration in Thi-Qar after the Friday prayers to call on the U.S. and Iraqi forces to release Sadrist detainees, according to the movement’s office in the province."

Iraqi family sues ex-Blackwater guard over death
A quote...."Iraqi family sues former Blackwater guard over fatal shooting, says company reneged on redress."

CACI Faces Abu Ghraib Torture Suit
A quote...."CACI International, a provider of intelligence-gathering services for the U.S. government, must face a lawsuit by four former detainees who say they were tortured at Abu Ghraib prison in Iraq. "
    
Arab League reaches out to Iraq
A quote...."DAMASCUS - Amr Mousa, the secretary general of the 22-member Arab League, has just wrapped up a three-day visit to Iraq, his first since October 2005. Mousa met with Iraqi Prime Minister Nuri al-Maliki, President Jalal Talabani and Abdul Aziz al-Hakim, the powerful head of the Supreme Iraqi Islamic Council. He pushed for reconciliation with all three leaders and their deputies."

Allies 'Out Of Troops' In Afghan South
A quote...."The military commander responsible for southern Afghanistan said yesterday that he is "out of troops" to provide security across the troubled region and that he expects a significant increase in violence this year as U.S. reinforcements arrive to push into insurgent-held territory."

Raisani warns US against drone attacks in Balochistan
A quote...."QUETTA: Warning Washington against launching drone attacks inside Balochistan, Chief Minister Muhammad Aslam Raisani on Friday said such actions could tarnish the Obama administration’s international image."

Leader: No change in hostile US policy
A quote...."The Leader of the Islamic Revolution says the US has shown no sign of a real change in its hostile attitude toward the Iranian nation."

Pakistan, Germany agree drone attacks counter-productive
A quote...."ISLAMABAD: Pakistan and Germany on Friday expressed concern over drone attacks in Pakistan and reiterated their apprehensions about the effectiveness of the attacks, said a Foreign Office statement." -- also posted at WarInIraq

US Navy Submarine And Ship Crash Near Iran
No doubt the Neocons feel it's too bad Cheney still isn't VP, otherwise he could have said Iran "did it" and started a nice big war. - mpg -- A quote...."A US Navy submarine and an American amphibious ship have collided in the Strait of Hormuz."

African Union suspends Madagascar
A quote...."THE African Union has suspended Madagascar, the strongest condemnation yet by the international community after Opposition Leader Andry Rajoelina took power with the support of the army."

Brazil Indians gain land victory - posted at ICH
A quote...."The Amazon's indigenous groups have won a major victory with Brazil's Supreme Court upholding the integrity of a vast native reserve. - Friday's ruling paves the way for the expulsion of white farmers living in the Raposa Serra do Sol reserve the government created in 2005."
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The Death and Life of Great American Newspapers
A Quote...."Let's begin with the crisis. In a nutshell, media corporations, after running journalism into the ground, have determined that news gathering and reporting are not profit-making propositions. So they're jumping ship. The country's great regional dailies--the Chicago Tribune, the Los Angeles Times, the Minneapolis Star Tribune, the Philadelphia Inquirer--are in bankruptcy. Denver's Rocky Mountain News recently closed down, ending daily newspaper competition in that city. The owners of the San Francisco Chronicle, reportedly losing $1 million a week, are threatening to shutter the paper, leaving a major city without a major daily newspaper. Big dailies in Seattle (the Times), Chicago (the Sun-Times) and Newark (the Star-Ledger) are reportedly near the point of folding, and smaller dailies like the Baltimore Examiner have already closed. The 101-year-old Christian Science Monitor, in recent years an essential source of international news and analysis, is folding its daily print edition." -- also posted at CommonDreams

USA Has Two Options To Save its Economy: - Declare Default or Trigger War  - Article also posted at ICH
Good Quote...."When the world economy recovers, investors will realize that there are plenty of other opportunities for investments, the European bonds, for example (if the European economy recovers from the crisis too, of course), or the bonds of developing countries. -- “The pyramid of US bonds will collapse in this case. The debt percentage grows every day, which makes the USA borrow more and more on a daily basis. America will have no chances to pay off the debt,” the expert said."

CIA reveals it has 3,000 pages of documents relating to destroyed interrogation tapes
Oooppps, guess sombody forgot to use the shredder. - mpg -- A quote...."The Central Intelligence Agency disclosed Friday that it has 3,000 summaries, transcripts, reconstructions and memoranda relating to 92 interrogation videotapes that were destroyed by the agency, the American Civil Liberties Union revealed Friday evening. -- The agency, however, says they won't make them public or provide them to the civil rights group. The disclosure came as part of a lawsuit." -- also posted at RogueGov

Ter·ror·ist (adjective): Anyone Who Disagrees with the Government
Police State - Military State Alert -- A quote...."The Department of Homeland Security and police forces label anyone who they disagree with - or who disagrees with their policies - as "terrorists". -- Don't believe me? -- Well, according to a law school professor, pursuant to the Military Commissions Act, "Anyone who ... speaks out against the government's policies could be declared an 'unlawful enemy combatant' and imprisoned indefinitely. That includes American citizens." -- And according to an FBI memo, peace protesters are being labeled as "terrorists". Indeed, police have been terrorizing children, little old ladies and other "dangerous" people who attempted to peacefully."

SFPD Attacks Protesters Like it Was Gaza or Something
Police State Alert - A quote...."There is a very disturbing video out now of the San Francisco police Department rushing demonstrators in front of the Israeli Consulate in San Francisco with no apparent motive except to harm the protesters."

Missouri Governor Stands Behind MIAC Smear Report
A quote...."Nixon defends document that equates Ron Paul supporters & people who display bumper stickers with terrorists, says feds will continue to issue similar reports."

Leaked Australian blacklist reveals banned sites
A quote...."The Australian communications regulator's top-secret blacklist of banned websites has been leaked on to the web and paints a harrowing picture of Australia's forthcoming internet censorship regime. -- Wikileaks, an anonymous document repository for whistleblowers, obtained the list, which has been seen by this website, and plans to publish it for public consumption on its website imminently." -- also posted at RogueGov
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War On Terror Within - The End of Jewish History - posted at ICH
Must Read - A quote...."March 20, 2009 "Information Clearing House" ---  The issue I am going to discuss today is probably the most important thing I’ve ever had to say about Israeli brutality and contemporary Jewish identity. I assume that I could have shaped my thought into a wide-ranging book or an analytical academic text but instead, I will do the very opposite, I will make it as short and as simple as possible. --  In the weeks that have just passed we had been witness to an Israeli genocidal campaign against the Palestinian civilian population in Gaza. We had been witnessing one of the strongest armies in the world squashing women, elderly people and children. We saw blizzards of unconventional weapons bursting over schools, hospitals and refugee camps. We had seen and heard about war crimes committed before, but this time, the Israeli transgression was categorically different. It was supported by the total absolute majority of the Israeli Jewish population." - bold by website editor -- For more on this issue see....A Mortal Threat – Europe’s New Frankenstein Monster - 01-26-09 - mpg

Gaza Slaughterhouse: Israeli military rabbis distributed booklets inciting violence against "gentiles"
A quote...."The Israeli army has been forced to open an investigation into the conduct of its troops in Gaza after damning testimony from its own front line soldiers revealed the killing of civilians and rules of engagement so lax that one combatant said that they amounted on occasion to "cold-blooded murder"."

Dead Palestinian babies and bombed mosques - IDF fashion 2009
A quote...."The office at the Adiv fabric-printing shop in south Tel Aviv handles a constant stream of customers, many of them soldiers in uniform, who come to order custom clothing featuring their unit's insignia, usually accompanied by a slogan and drawing of their choosing. Elsewhere on the premises, the sketches are turned into plates used for imprinting the ordered items, mainly T-shirts and baseball caps, but also hoodies, fleece jackets and pants. A young Arab man from Jaffa supervises the workers who imprint the words and pictures, and afterward hands over the finished product."

Reham Alhelsi - Palestinian Mothers: Homage to Steadfastness and Sacrifice - Great PHOTO
A quote...."When the women came and told her to leave what she was doing and come and sit in front of the house with them, my grandmother knew what was to come. They sat outside and didn’t talk much. My uncle had been shot in the chest by the IOF that afternoon, and was at that moment being operated. He was in a critical condition, the doctors had told the men who had brought him to the hospital. Some were sent back home to prepare the family for the news and to prepare the refugee camp to welcome the hero, in case the worst happened. Although hope dies last, it was a necessity to prepare everything for a quick funeral and a quick burial. The Israeli army had been known to take bodies of Palestinian martyrs and steal their organs without the Palestinian family’s consent."

UN envoy: Gaza op seems to be war crime of greatest magnitude  - link posted at ICH
A quote...."A United Nations human rights investigator said on Thursday that Israel's offensive against Hamas in densely populated Gaza appeared to constitute a war crime of the "greatest magnitude."

Israel bans Palestinian cultural events
A quote...."Internal Security Minister Avi Dichter has signed a number of injunctions banning a series of events titled "Jerusalem, the capital of Arab culture," which were scheduled to be held Saturday in Jerusalem, Nazareth and in other parts of the country under the auspices of the Palestinian Authority (PA)."

The Israeli Terror: My Friend Tristan
A quote...."I was in Olympia, Washington driving towards Evergreen State College when I got a phone call from someone in the occupied West Bank of Palestine. An Evergreen graduate named Rachel Corrie had been killed a few days before by an Israeli soldier in an armored bulldozer, and someone with an Australian accent on my cell phone named Tom was wondering whether it was OK for the International Solidarity Movement to use the lyrics to a song I had just written about the incident on their website. Rachel's murder was followed quickly by the murder of a British ISM activist named Tom Hurndall. -- And now, almost six years to the day after the murder of Rachel Corrie, my friend and comrade Tristan Anderson has been critically injured by the IDF."

'Infandous*' George Galloway banned from Canada on grounds of national security (*look it up)
A quote...."George Galloway has been barred from Canada on national security grounds. The outspoken MP, who opposes the war in Afghanistan where Canadian troops are deployed, was due to make a speech in Toronto on March 30. But a spokesman for immigration minister Jason Kenney said Mr Galloway was viewed as a supporter of the radical Palestinian group Hamas, which is banned in Canada. The Respect MP for Bethnal Green and Bow, who is on a North American speaking tour, vowed to use all means at his disposal to challenge the ‘outrageous’ ban. He called the move a ‘desperate election ploy’ by a Conservative government."

Canada ban: Galloway faces his accusers a Jewish Defence League (JDL) "Terrorist"
Must View Video - A quote...."The decision to ban George Galloway from Canada seems odd, but now it emerges that the Jewish Defence League (JDL) pressured the Canadian Government to so the action takes on sinister connotations for Canada, why? Because the Jewish Defence League are according to the FBI a Terrorist Group. In its report, Terrorism 2000/2001, the FBI referred to the JDL as a "violent extremist Jewish organization". This "violent extremist Jewish organization" now it seems has power and influence over the Canadian Government."
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Inviting the Sheep for Another Shearing
Must Read - A quote.......

"What do you get for pretending the danger's not real.
Meek and obedient you follow the leader
Down well trodden corridors into the valley of steel.
What a surprise!
A look of terminal shock in your eyes.
Now things are really what they seem.
No, this is no bad dream."  --  *Pink Floyd* (sheep)

Forget AIG Bonuses--The Next Bailout is Here
A quote...."The Obama Administration is putting the finishing touches on another big bank bailout. Called the Public Private Investor Partnership (PPIP), it is the brainchild of the Treasury Secretary from Wall Street, Tim Geithner. Under the plan, the government will give our money to hedge fund managers to buy "toxic" assets for more than they are worth. The banks that created these toxic turkeys will use the money from the sales to recapitalize themselves. Everyone comes out ahead except, of course, the taxpayers, who are essentially funneling money to hedge funds to buy bad assets for more than they are worth. The other bonus for the banks in this plan, as Yves Smith points out, is that they get to avoid giving the toxic assets any real market value. Less transparency and more transfers of wealth from taxpayers to hedge fund managers."

We're on The Verge Of A Major Crisis - (YouTube - 6 min 29 sec - March 20, 2009) - link posted at ICH
Must View Video - Some quotes...."Ron Paul discusses the AIG bonus controversy" -- "http://campaignforliberty.com/ -- Watch the liberty contingent, including Ron Paul on Freedom Watch: http://freedomwatchonfox.com/"

Ron Paul makes a very important point, the bill to tax AIG's bonuses is most probably unconstitutional because it's ex-post facto.  He didn't mention however that it's also probably unconstitutional because it's a bill of attainder that specifically targets an individual or group. - mpg -- For more on that issue see the quotes shown below....

U.S. Constitution Article 1 Section 9
No Bill of Attainder or ex post facto Law shall be passed.
Article 1 Section 10

"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."

"In case you don’t happen to know what a Bill of Attainder is, here is a handy definition from the Tech Law Journal:"
Bill of Attainder -- Definition: A legislative act that singles out an individual or group for punishment without a trial.

"The Bill of Attainder Clause was intended not as a narrow, technical (and therefore soon to be outmoded) prohibition, but rather as an implementation of the separation of powers, a general safeguard against legislative exercise of the judicial function or more simply - trial by legislature."  U.S. v. Brown, 381 U.S. 437, 440 (1965)." -- From *Sweetness & Light dot Com*

And folks you should all understand quite clearly that the DemoRepubs know perfectly well this bill will be struck down by the courts.  Months, or even years from now while the public's attention is distracted by other issues (like the Great Depression) the decision striking down this whole sorry piece of legislation will appear buried somewhere in the back pages of your local newspaper.  -- "Your" representitutes are just having fun with you folks, grandstanding for the cameras while allowing AIG's criminals to get away with billions of your tax dollars, that's all it is.  – mpg
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Forget the Bonuses: AIG Can't Repay Its Loans, GAO says - Well we ALL knew that!! - mpg
A quote...."Lost in all the shouting over the $165 million in bonuses paid to executives of disgraced insurer American International Group was this sober message delivered to Congress on Wednesday by a government watchdog: AIG's ability repay its $170 billion in loans from taxpayers has eroded significantly."

Financial Updates and Warnings.....

US deficit seen at record 1.845 trillion dlrs
Financial Update - A quote...."The US budget deficit will reach a record 1.845 trillion dollars in fiscal 2009 that ends in September, equivalent to 13.1 percent of economic output, the budget arm of Congress forecast Friday. - The Congressional Budget Office's (CBO) latest estimate was far steeper than its prior forecast in January of a deficit of 1.2 trillion dollars." - bold by website editor

Fed to Buy Treasurys is Not a Good Sign - i.e. it shows the Fed is desperate. - mpg  - link posted at ICH
Video - Financial Warning - A quote...."Stephen Roach, chairman for Asia at Morgan Stanley does not view the Fed's plan to buy $300 billion worth of long-dated government debt as a constructive sign for prospects going forward. He explains why to CNBC's Amanda Drury."

The Mother of All Bells
Must Read - Financial Warning - Some quotes...."This week the Federal Reserve finally made clear what should have been obvious for some time – the only weapon that the Fed is willing to use to fight the economic downturn is a continuing torrent of pure, undiluted, inflation. The announcement should be seen as a game changer that redirects the fury of the financial storm directly onto our shores." -- "Rather than solving our problems, more inflation will only add to the crisis. Falling asset prices, the credit crunch, declining consumer spending, bankruptcies, foreclosures, and layoffs are all part of the necessary rebalancing of our economy. These wrenching movements, however painful, are the market’s attempts to resolve the serious problems at the root of our bubble economy. Attempts to literally paper-over these problems will lead to disaster."

Launching Life Dinghies in the Maelstrom - When Things Fall Apart
Financial Warning - A quote...."On March 19 the New York Times reported: “The Fed said it would purchase an additional $750 billion worth of government-guaranteed mortgage-backed securities, on top of the $500 billion that it is currently in the process of buying. In addition, the Fed said it would buy up to $300 billion worth of longer-term Treasury securities over the next six months.” -- The Federal Reserve says that its purchase of $1 trillion in existing bonds is part of its plan to revive the economy. Another way to view the Fed’s announcement is to see it as a preemptive rescue. Is the Fed rescuing banks from their bond portfolios prior to the destruction of bond prices by inflation?"

Euro Falls Versus Dollar as EU Prepares to Double Crisis Fund
Financial Update - Europe's F.U. to the Fed - i.e. "We can depreciate our currency just as fast as you can, AND, by the way, WE have real factories and a real functioning economy and more people than you do so we WILL win this one....so there!" - mpg -- A quote...."The euro slid from near a two-month high against the U.S. currency after European Commission President Jose Barroso said leaders may agree today to boost the amount of cash for struggling countries to 50 billion euros ($68 billion) from 25 billion. The dollar rose as some traders bet the slump this week stoked by the Federal Reserve’s plan to start buying Treasuries was overdone given the outlook for the U.S. economy."
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Britain: Record rise in unemployment to over 2 million
A quote...."Unemployment in the United Kingdom rose by a record amount last month. The numbers claiming unemployment benefit increased by 138,400 in February, the largest monthly increase since records began in 1971 and far higher than had been predicted. The previous record high was 118,000, reached in the recession of 1991." - bold by website editor

Thursday March 19th 2009
 
Happy Anniversary Amerika
Must Read - A quote...."The Bush/Cheney regime did whatever they wanted. They got away with murder, literally, and as Cheney and various Bush administrations still haunt the MSM Sunday talk-shows, spinning history into a gelatinous mush that we will never be able to see clearly through, no one to this day believes they will ever be held accountable for what they did to our country. -- At best we might get another 9/11 Commission to placate the dissenters and muddy the waters of history even more.  Just another white-wash in a long history of them. -- The Bush administration is a corner-stone for the new form of civilization being leveraged into existence by the nouveaux dirigeant de l’univers.  A civilization that detests the rule of law, for some, and then uses that same law as a crippling hobble for the masses; the proletariat.  To be honest, no foundation has but one corner-stone and the Clinton administration is certainly not without their share of blame in all of this. Throw in the mix, the corporate media and the congressional-military-industrial-complex, and you begin to see the entire picture developing."

How To Destroy the Government in Three Easy Steps  - posted at ICH
March 18, 2009 "ICH" -- -In eight short years, conservatives have effectively bankrupted many state governments and left the fed in shambles. And now citizens have to "make tough decisions" and share the suffering equally across the land (unless of course, you're part of that lucky 1% who co-opted the functions of government to serve their own ends... they'll be cozy with their offshore bank accounts, golden parachutes, and permanent tax holidays). -- Are you a teacher who educates our future citizens? Too bad. You've got to tighten your belt and let that job go. Manual laborer? Sorry but that job can earn more money for our shareholders if its done in Micronesia. Need a college degree? Prepare for indentured servitude because you'll be working to pay us off for most of your adult life. Health care? Ha! That's just a ponzi scheme dreamed up by a bunch of socialists. -- Ever wonder how conservatives did all this? -- Well here's your very own how-to manual for getting Big Government out of the way so you and your buddies can horde all the wealth to yourselves and build your empire." -- also posted at CommonDreams

Israel’s American Chattel - posted at ICH
A quote...."March 18, 2009 "Information Clearing House" --   Many conservatives take vicarious pleasure in America’s superpower status.  Bush’s flaunting of American power is one reason conservatives took scant notice of Bush’s police state measures and ill-conceived wars. Conservatives were so delighted with Bush giving the finger to the UN, the world community and especially France, a country conservatives have despised ever since Charles DeGaulle refused to follow the American line, that conservatives paid no attention to Bush’s assault on civil liberty and his squandering of America’s soft power.

PJB: Of Patriots and Assassins  - Article also posted at ICH
A quote...."At MEPC, however, Freeman committed a great crime. He published “The Israel Lobby and U.S. Foreign Policy” by Stephen Walt and John Mearsheimer, which went onto the New York Times best-seller list — and put Freeman on AIPAC’s enemies list.  --  Hence, when his name surfaced as Blair’s choice to chair the NIC, the Israel Firsters went berserk, with Steven Rosen declaring him to be a “textbook case of the old-line Arabism” that infected the Department of State when Gen. George Marshall was secretary.  --  And who is Rosen?  --  A former fixture at AIPAC, Rosen faces imminent federal criminal prosecution under the Espionage Act for transferring top-secret Pentagon documents to the Israeli Embassy. Rosen’s accomplice, Larry Franklin, is serving a 12-year sentence."

The Crisis Will Be Profound and Prolonged
A quote...."It's been several months since the crisis of capitalism was unleashed on the international level, with its epicenter in financial capital and the U.S. economy. Now we have more evidence that this crisis will be profound and prolonged, affecting all the peripheral economies -- including Brazil. -- Many analyses of the crisis have been published in academia and the media. There are all sorts of positions and ideological currents. But they all converge on this diagnosis: it is a profound crisis, worse than the crisis of 1929. It will affect the entire world economy, which has been increasingly internationalized and controlled by fewer than 500 companies. It will be worse, because it combines an economic crisis, a financial crisis (of the credibility of currencies), an environmental crisis, an ideological crisis due to the failure of neoliberalism, and a political crisis due to the lack of alternatives on the part of the dominant class at the center of capitalism or the governments of the periphery."

Free markets are not rational
Special Note - (Good quote) --  A quote...."There will be a fight to be sure. In America, there is no question but to do what it takes to get everything back to the past as fast as possible. Americans want to reset the machine and keep on playing. The rest of the world - who trusted their blood and treasure with the world's only superpower - feel differently about things. It wasn't them who killed the golden goose, but they were paying for the crime. A new global era was taking shape while Americans dithered over politics, Barack Obama's election being the last America would make without the input of the world. -- There is, finally, a growing consensus (outside America) that in a modern age, individuals, groups and states do not seek to maximize their best interests. In fact, it turns out to be quite the opposite. All too often, and in ways that can demolish civilization itself, rational, free-thinking men with a stupendous concentration of power and wealth have acted in direct contradiction of what should have been their best interests - and ours."
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[British] MPs 'deliberately' misled over causes of Iraq war, say former Government officials
A quote...."A Government expert in weapons of mass destruction who leaked information to the media ahead of the Iraq war has criticised MPs for failing to investigate the reasons behind the conflict."

Six Years Later: Iraq War Continues Apace
A quote...."The American invasion of Iraq began six years ago, and a lot has happened: the nation descended into a civil war, 4,259 American soldiers were killed, over 1.3 million Iraqis are estimated to have died, and victory has been declared countless times."

The Desecration of Iraq's Art Treasures - Iraq's Broken Culture
A quote...."This week marks the sixth anniversary of the coalition of the willing’s invasion of Iraq. Because American mainstream news headlines continue to trumpet, "The sky is falling!" vis-à-vis the economy, the anniversary of an immoral occupation is one that will pass quietly into the night. There will be no talk on American televisions of the million-plus slain Iraqi citizens, and no talk of the glum morale of American troops as they slog away in a conflict with seemingly no end in sight."

Baghdad's water still undrinkable 6 years after invasion
A quote...."BAGHDAD — The stench of human waste is enough to tell Falah abu Hasan that his drinking water is bad. His infant daughter Fatma's continuous illnesses and his own constant nausea confirm it."

Foreign companies would get majority stake in Iraq oil and gas projects
A quote...."A top adviser to Prime Minister Nuri Kamal al-Maliki on Wednesday confirmed statements made by the Iraqi oil minister, Hussain al-Shahristani, in Vienna earlier in the day that foreign companies could bid for as much as 75 percent of the profit from new oil and natural gas development projects. The adviser also confirmed that Iraq might offer new and existing fields for development by foreign oil companies, outside of formal bidding rounds for new fields, which had previously been open to only a small number of major oil companies."

In Mosul, Iraq's Insurgency Refuses to Be Tamed
A quote...."Mosul remains at war. Although the conflict in most parts of Iraq has largely subsided - the uneasy peace punctured only sporadically by spurts of bloodshed - it isn't over in Mosul. Al-Qaeda and other insurgent groups remain a force in this majority Sunni, ethnically and religiously mixed northern city, Iraq's third largest."
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Obama Considers Expanding Afghanistan Troop Level to 400,000
Special Note - Obama™ Update -- A quote..."U.S. President Barack Obama is considering a plan that would double the size of Afghanistan’s security force to about 400,000 troops and police officers to stabilize the nation, The New York Times reported on Wednesday."

Israel conducts special air-force training east from Crete Island
War Alert - Full quote...."Athens. Israel has conducted special air-force training east from Crete Island and in the air control zone of Athens, Ta Nea informs. Greek Ministry of Foreign Affairs Dora Bakoyannis had given its permission the training to be conducted. -- Two high technological trainings were conducted for the last week. Israel filled in claims for three more trainings. -- Israel uses small number of chasers, plane for reloading and new jet-liner “Gulf Stream”, which can “deaden” everything. -- Large scale training in Greece in May last year was defined by Americans as “general repetition” for bombing against Iran land targets, edition reminds."

US spills Afghan war into Pakistan
A quote...."Expanding a covert war into Pakistani territory, as proposed in Washington's new Afghan war plan, will derail any potential political dialogue and rightly inflame the Pakistani public. There is now a growing regional perception that President Barack Obama's administration lacks any clear-headed strategy in the war. Political chaos in Kabul and Islamabad is only making matters worse."

Burn, Balochistan, burn
Special Note - A quote...."The new mix will likely feature an ongoing wild goose chase for "good Taliban"; an expanded Central Intelligence Agency-operated drone war (a George W Bush policy decision); assorted CIA and special forces cross-border attacks (also a Bush policy decision); more carrots for the Pentagon-friendly Pakistani army (and Inter-Services Intelligence); more US troops in Afghanistan (starting with the announced 17,000 who will hit Helmand province before   --  The CIA and Pentagon couldn't be happier with their clean and safe - at least for the drones - remote-control war on the Pakistani tribal areas. But they want more. Bombing Pashtun weddings and decimating tribals in Waziristan is not that much fun anymore. Of all the national security adviser groups who are delivering their suggestions to the White House, two key reports want to (literally) go south. Their authors are Central Command chief General David "I'm always positioning myself to 2012" Petraeus, and White House Afghan expert Lieutenant General Douglas E Lute.  --  So welcome to a new (drone) hit series - "Burn, Balochistan, burn".

Czechs delay US missile shield vote - link posted at ICH
A quote...."The Czech government has postponed a bill in its parliament that would allow the US to build a missile defence radar station southwest of Prague, the country's capital. -- Mirek Topolanek, the Czech prime minister, said the vote was withdrawn because of fears it would be rejected in the parliament's lower house."

Poll: Czechs still against US missile plan
Related Article - A quote...."Czechs are still opposed to US plans to build a missile defense radar base on the country's soil, according to a new opinion poll."

Russia Confirms S-300 Contract With Iran
A quote...."A top Russian defense official today confirmed that a contract has existed for two years to supply the high-end S-300 surface to air defensive missile system to Iran, something which has long been rumored to be the case. Russian spokesmen would not discuss the revelation but were quick to point out that the missiles had yet to be delivered."

The quiet (political) death of Nabucco
A quote...."The US-backed Nabucco natural gas pipeline is dying a slow death. Even its strongest supporters have a hard time demonstrating its commercial viability. -- But it has never really been about money or energy – Nabucco stands for politics and geo-political advantage. The EU has all but pulled the plug on the project, essentially writing Nabucco’s obituary."

Ukraine asks for $5 BLN from Russia
Well that's a heck'of alot better then asking for any more money from the IMF or World Bank.  However if Russia decides to grant the loan, it BETTER make sure that it's listed as the first creditor to be paid back BEFORE those two bloodsucking loan sharks in the event there's any kind of default, or it's absolutely guaranteed they'll get stiffed and never see a ruble of their money again.  And that IS something you can take to the bank....just not those two. – mpg -- A quote...."Ukraine has officially asked Russia to lend it $US 5 billion. Prime Minister Yulia Timoshenko is expected to visit Moscow to negotiate the credit. “We have received a letter and the request is being considered,” said Russian Foreign Ministry spokesman Andrey Nesterenko on Thursday."

The Blood-Dimmed Tide - Kosovo Pogrom of 2004
A quote...."In the aftermath of the Cold War and the "end of history" triumphalism, those who built the American Empire may be forgiven for believing the future of conflict would be in short, victorious wars like "Desert Storm"; that the U.S. was the "indispensable nation"; and any country in the world would instantly surrender at the mere whiff of smart bombs. Such a world never really existed. Yet the imperialists, convinced their will alone is enough to shape reality, still maintain their conceit from the 1990s and continue to act accordingly."

ANC to shift to the Left after South Africa's presidential election
A quote...."The African National Congress has been forced to abandon its post-Apartheid dream of creating a black middle class in South Africa and will shift to the Left by redistributing the nation's wealth to the poor."

Army-backed leader cements grip in Madagascar
A quote...."ANTANANARIVO — Madagascar's new President, Andry Rajoelina, celebrated and consolidated power on Wednesday after being appointed by the Indian Ocean island's military in a move drawing international disapproval." -- Editor's Caution:  African leaders who take power through revolutions or military coups almost always start out with a great degree of good will and even good intentions....it usually doesn't last very long.  Good luck to Madagascar, it's people and their new government. - mpg

Costa Rica, El Salvador to re-establish ties with Cuba
A quote...."After almost 50 years of severed ties, Costa Rica will re-establish diplomatic relations with Cuba, President Oscar Arias announced Thursday. The move, announced via a press release, comes after Foreign Minister Bruno Stagno hinted earlier this week that a rapprochement was possible."

Cuba, EU for Cooperation
A quote...." Louis Michel, EU Commissioner for Development and Humanitarian Help, leads the European delegation, which is seeking more cooperation in health, education and scientific research. -- The European official praised Wednesday possibilities of cooperation between Cuba and the regional bloc, starting with strengthened political dialogue."
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Group says files show US knew of Guatemala abuses
Special Note - A quote...." GUATEMALA CITY --  The U.S. government knew that top Guatemalan officials it supported with arms and cash were behind the disappearance of thousands of people during a 36-year civil war, declassified documents obtained by a U.S. research institute show. -- The National Security Archive, a Washington D.C.-based institute [George Washington University - National Security Archives] that requests and publishes declassified government documents, obtained diplomatic and intelligence reports from the U.S. State Department under the Freedom of Information Act and posted them on its Web site on Wednesday." -- bold by website editor

CIA's Panetta Is Falling Short - posted at ConsortiumNews
A quote...."President Barack Obama’s CIA director, Leon Panetta, needed only one month to establish that he lacks the courage, contrariness, judgment, and political and intellectual independence to reform the Central Intelligence Agency."

CIA Kidnap Trial to Resume in April
A quote...."An Italian judge says the trial of 26 U.S. agents and seven Italians accused of kidnapping a terrorism suspect will resume next month, after the Constitutional Court clarifies key rulings in the case." -- For more on this issue see.....Fun & Torture - It's a Pleasure

Torture and the American ruling class
A quote...."On Sunday, the New York Review of Books published an article based upon substantial citations from a report by the International Committee of the Red Cross on the treatment of prisoners held by the US Central Intelligence Agency. The still-secret report—from the international organization tasked with monitoring compliance with the Geneva Conventions—concluded that the treatment of detainees "constituted torture" and "cruel, inhuman, or degrading punishment."

Judge: Abu Ghraib detainees can sue Va. contractor
A quote...."A federal judge rejected a defense contractor's claims that it was immune from lawsuits by four alleged torture victims at the Abu Ghraib prison in Iraq." -- also posted at AfterDowningStreet

Ex-Bush admin official: Many at Gitmo are innocent
A quote...."SAN JUAN, Puerto Rico (AP) — Many detainees locked up at Guantanamo were innocent men swept up by U.S. forces unable to distinguish enemies from noncombatants, a former Bush administration official said Thursday. "There are still innocent people there," Lawrence B. Wilkerson, a Republican who was chief of staff to then-Secretary of State Colin Powell, told The Associated Press. "Some have been there six or seven years." -- also posted at GoogleCom

BULLETIN: Busted while reporting in Alexandria, Va.
A quote...."(WMR) -- Last night, while meeting the source in O’Connell’s Irish pub in Alexandria, Alexandria police, who apparently had plainclothes police inside the St. Patrick’s Day-jam packed establishment, arrested my source for no apparent reason while I and the source’s wife looked on in shock. When I asked one of the men who forced the source to the ground outside why they were placing him under arrest, he shouted to me to “back off.” I asked the man if he was a police officer. His response was, “No, I’m a fireman.” --  I then told the “fireman” that I was a member of the press, produced my credentials, and wanted to know what the charges were against my source. He then motioned to someone behind me who shoved me up against a police SUV and placed me in handcuffs."

RFK Jr. "Free Paul Minor"
A quote...."Well, now we have four - count them -  four news outlets covering this case and all four are not considered mainstream. Why? Why are Raw Story,  Harper's, Jackson Free Press, and now Huffington Post the ONLY publications covering the alleged political prosecution of Paul Minor? Initially with Don Siegelman's case, it was Harper's and Raw Story, only much later were we  joined by the mainstream media and even then,  only in an editorial capacity - because the major investigative reporting had already been done, including a small, but incredibly important 60 Minutes broadcast."
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Obama's Forced Servitude Agenda Moves Foward
Military State Alert -  Obama™ Update -- A quote..."The push towards mandatory national service took another step today with the U.S. House of Representatives voting in favor of the Generations Invigorating Volunteerism and Education Act otherwise known as the GIVE Act. The bill was passed 321-105 and with a similar bill working its way through the U.S. Senate called the Serve America Act, it seems clear that a national service bill in some form will be passed into law. National service is of course a major part of Barack Obama’s incremental agenda to implement a global prison system of total dehumanization and enslavement.   The GIVE Act will setup a commission to explore the prospect of mandatory national service, indicating yet another small step towards their great dream of involuntary forced government servitude."

Preparing for Civil Unrest in America - Legislation to Establish Internment Camps on US Military Bases
Military State Alert - A quote...."At this particular juncture [of financial crisis], there is no economic recovery program in sight. The Washington-Wall Street consensus prevails. There are no policies, no alternatives formulated from within the political and economic system. -- What is the way out? How will the US government face an impending social catastrophe? -- The solution is to curb social unrest. The chosen avenue, inherited from the outgoing Bush administration is the reinforcement of  the Homeland Security apparatus and the militarization of civilian State institutions. -- The outgoing administration has laid the groundwork. Various pieces of "anti-terrorist" legislation (including the Patriot Acts) and presidential directives have been put in place since 2001, largely using the pretext of the "Global War on Terrorism."

[New York] City Considers Implementing Martial Law To Clean Up Policing
Military State Alert - A quote...."A New York State city is considering implementing martial law and replacing the local police force with National Guardsmen, in an effort to clean up law enforcement in the area."
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US Eyewitness in Gaza: 'The reality of a very real bloodbath set in...
A quote...."The following was written by Rose Mishaan, a participant on the recent National Lawyer's Guild delegation to Gaza. Rose is a student at the University of California Hastings College of Law. I know Rose from when we were both members of Jews Against the Occupation in New York. She sent this out as an email to friends and has given us permission to reprint it here. All the photos below were taken by her. - Adam Horowitz

Report: 23 emergency service personnel killed during "Cast Lead"
A quote...."Al Mezan Center for Human Rights published an English-language version of the report "The Targeting of Medical Centers, Ambulance Teams and Civil Defense Teams during the Israeli Offensive 'Operation Cast Lead' against the Gaza Strip." This report reviews the systematic targeting of medical centers, ambulance teams and civil defense teams and the obstruction of their work between the period of 27 December 2008 to 18 January 2009. The report also presents material and human losses sustained by the emergency services during this period." - bold by website editor

Ensuring maximum casualties in Gaza
New Weapons Update - Dart Bombs - A quote...."The dart bomb attacks came the morning after invading Israeli soldiers killed 35-year-old paramedic Arafa Abd al-Dayem. Along with another medic and ambulance driver, Abd al-Dayem was targeted by the lethal darts just after 10:10am on 4 January while trying to aide civilians already attacked by Israeli forces in northern Gaza's Beit Lahia area. Within two hours of being shredded by multiple razor-sharp darts, Arafa Abd al-Dayem died as a result of slashes to his lungs, limbs and internal organs." -- alos posted at - also posted at AmericanEveryman -- Basically it appears the Israeli high command along with its top politicians believed that the Gazan people, penned essentially in a large cage, were experimental animals that new weapons systems could be tested on.  Obviously  if there was any justice in the world the Israelis would be brought to trial and hung for war crimes.  There isn't, and they won't be. - mpg -- For more on this issue see....Gaza Invasion of 12/27/08 specifically regarding the use of white phosphorous, flechette weapons and DIME weapons.

Israel's dirty secrets in Gaza
A quote...."Army veterans reveal how they gunned down innocent Palestinian families and destroyed homes and farms."

Israel troops admit Gaza abuses
A quote...."An Israeli military college has printed damning soldiers' accounts of the killing of civilians and vandalism during recent operations in Gaza."

Israeli soldiers admit 'murdering' Gazans - link posted at ICH
A quote...."Israeli soldiers have confessed to wanton killing of Palestinian civilians and behaving immorally during the Operation Cast Lead in Gaza."

ICC zeroing in on Israeli war crimes?
A quote...."The International Criminal Court prosecutor is exploring ways to launch an investigation into Israeli war crimes in the Gaza Strip."

Who Said Nearly 50 Years Ago that Israel was an Apartheid State?
A quote...."At the onset of international 'Israel Apartheid Week' in solidarity with the embattled Palestinian people, I want to start by quoting a South African who emphatically stated as far back as 1963 that "Israel is an apartheid state." Those were not the words of Nelson Mandela, Archbishop Tutu or Joe Slovo, but were uttered by none other than the architect of apartheid itself, racist Prime Minister, Dr. Hendrik Verwoerd. -- He was irked by the criticism of apartheid policy and Harold Macmillan’s “Winds of Change” speech , in contrast to the West’s unconditional support for Zionist Israel."

Interview with Khaled Meshaal, Leader of Hamas
Interview - A quote...."Exclusive: The leader of Hamas in exile speaks. He announces an imminent conflict. That is because he says Tel Aviv is not interested in listening to Palestinians. And from America, the opening with Damascus was nothing but words. Conversation with Khaled Meshaal From the Italian news magazine L’Espresso. Translated by Mary Rizzo."
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Million French workers march against Sarkozy
A quote...."More than a million angry French workers took to the streets Thursday in a nationwide strike to force President Nicolas Sarkozy to boost wages and protect jobs as the economic crisis deepens."

Obama defends Wall Street as anger grows over bonuses, bailouts
- Obama™ Update -- A quote..."In a statement to the press as he left the White House Wednesday, and at a town hall meeting in Southern California later the same day, President Barack Obama defended his policy of bailing out Wall Street financial interests, including those directly responsible for precipitating the current economic crisis."

Was the Bailout Itself a Scam? - posted at ICH
A quote...."March 19, 2009 "Information Clearing House" -- Professor Michael Hudson (CounterPunch, March 18) is correct that the orchestrated outrage over the $165 million AIG bonuses is a diversion from the thousand times greater theft from taxpayers of the approximately $200 billion “bailout” of AIG. Nevertheless, it is a diversion that serves an important purpose. It has taught an inattentive American public that the elites run the government in their own private interests." -- also posted at CounterPunch

Citigroup May Spend $10 Million for Executive Suite (Update1)
A quote...."March 19 (Bloomberg) -- Citigroup Inc. plans to spend about $10 million on new offices for Chief Executive Officer Vikram Pandit and his lieutenants, after the U.S. government injected $45 billion of cash into the bank."
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The FOMC's Plan to Buy $1.1+ Trillion of T-bonds, Mortgage Debt, and 'Other Financial Assets'
Special Note  - A quote...."Let me parse the text of the FOMC's press release.....

Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending. Weaker sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories and fixed investment. U.S. exports have slumped as a number of major trading partners have also fallen into recession. Although the near-term economic outlook is weak, the Committee anticipates that policy actions to stabilize financial markets and institutions, together with fiscal and monetary stimulus, will contribute to a gradual resumption of sustainable economic growth.

"The facts point to a continuing decline in the economy. On the other hand, the Committee anticipates that the decisions of the Committee will slowly restore the economy. This is reassuring. Think of what the Committee would have had to say if the Committee believed that it was the decisions of the Committee, 2000 to 2007, that got us into this mess." -- For more on this issue see....Some Tentative Laws - July 20th, 2008 - mpg

The Recession/Depression has ENDED! Quotes that are similar TODAY
Some quotes...."

December 5, 1929  ---  “The Government’s business is in sound condition.” — *Andrew W. Mellon*, Secretary of the Treasury

December 28, 1929  ---  “Maintenance of a general high level of business in the United States during December was reviewed today by Robert P. Lamont, Secretary of Commerce, as an indication that American industry had reached a point where a break in New York stock prices does not necessarily mean a national depression.” — *Associated Press* dispatch.

January 13, 1930  ---  “Reports to the Department of Commerce indicate that business is in a satisfactory condition, Secretary Lamont said today.” - *News item*

The Geithner-Summers-Bernanke Plan to Prop Up Asset Prices Has Failed
A quote...."These plans are not going to work -- As aggressive as this campaign by the U.S. government is, it will have limited effectiveness because the extent of the writedowns of assets already on the books is going to be too massive." -- For more on this issue see....The Scourge of the Wealthy - Deflation // The Balm of the Wealthy - War - 09-30-06 - mpg

The Fed Will Not Succeed with Quantitative Easing
A quote...."Quantitative easing; everybody is doing it, like the Bank of England, Japan and even Switzerland. Quantitative easing is a tool of monetary policy. The effect is an increase in the quantity of currency without regard to maintaining its quality. Quantitative is relating to, measuring, or measured by the quantity of something rather than its quality. On 18 March, 2009, Bloomberg reported that the Federal Reserve announced its intent to purchase $300B of longer-term Treasuries. Predictably, the Federal Reserve has decided to exacerbate the quantitative easing party."

U.N. panel says world should ditch dollar
A quote...."LUXEMBOURG - A U.N. panel will next week recommend that the world ditch the dollar as its reserve currency in favor of a shared basket of currencies, a member of the panel said on Wednesday, adding to pressure on the dollar."
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Continuing jobless claims jump by 185,000
A quote...."WASHINGTON (MarketWatch) -- The number of people collecting state unemployment benefits jumped by 185,000 to a record seasonally adjusted 5.47 million in the week ending March 7, while new claims dipped by 12,000 to 646,000 in the week ending March 14, the Labor Department reported Thursday."

U.S. Economy: Leading Indicators Index Declines 0.4% (Update1)
A quote...."March 19 (Bloomberg) -- The Conference Board’s index of leading indicators, a gauge of the economy’s direction over the next three to six months, fell 0.4 percent in February, less than forecast. Manufacturing in the Philadelphia area shrank for the 15th time in 16 months, a Federal Reserve report showed, and the Labor Department said 5.47 million Americans are getting jobless benefits."

Philly Fed factory slump wears on
A quote...."NEW YORK (Reuters) - Factory activity in the U.S. Mid-Atlantic region shrank less severely in March, a survey showed on Thursday, but slumps in employment, new orders and investment plans painted a bleak outlook."

Dollar rattled by Fed's plans and US jobs woe
A quote...."The dollar suffered one of its biggest one day falls against sterling on Thursday after record US unemployment figures combined with the Federal Reserve's decision to embark on quantitative easing to put the currency under pressure." - bold by website editor

Gold, Silver And Oil Surge
Related Article - A quote...."Commodities surged, led by precious metals and energy, on speculation that the Federal Reserve’s steps to revive the U.S. economy will spur demand for raw materials as a hedge against inflation."

Wednesday March 18th 2009

No posts. - mpg

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031809-032409 - links page

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