Tuesday December 9th 2008

The Mumbia Attack - 6 Articles - Tuesday - [ Day 13 ] ========== ========== ========== ====

Role of Alleged CIA Asset in Mumbai Attacks Being Downplayed
Special Note - A quote...."December 10, 2008 -- Recent press reports on developments with regard to last month’s attacks in Mumbai, India indicate the role of Dawood Ibrahim, a wanted crime boss, terrorist, and drug trafficker, is being downplayed, possibly the result of a deal taking place behind the scenes between the governments of the US, Pakistan, and India, to have others involved in the Mumbai attacks turned over while quietly diverting attention from a man who some say could reveal embarrassing secrets about the CIA’s involvement in criminal enterprises." -- also posted at OnlineJournal

The US, Pakistan and the “terrorist” Hamid Gul
Special Note - A quote...."10 December 2008 -- In the wake of the Mumbai terrorist attacks, the name of retired Lieutenant General Hamid Gul, former head of Pakistani military intelligence—the Inter-Services Intelligence agency (ISI)—has appeared prominently in the international press. Various newspapers have reported that the Bush administration is seeking to have Gul, together with at least three other Pakistani citizens, blacklisted at the UN for their alleged support for various terrorist groups, including Lashkar-e-Taiba, which is accused of orchestrating the Mumbai atrocity."

Operation continues against LeT-Dawa
A quote...."ISLAMABAD, Dec 8: The government launched on Monday a countrywide crackdown on the banned jihadi outfit Lashkar-e-Taiba and charity organisation Jamaatud Dawa. -- Over two dozen people, including top Lashkar commander Zakiur Rehman Lakhvi wanted by India in connection with the Mumbai carnage, have been arrested. -- The operation, which was started in Muzaffarbad on Sunday, will continue and officials expect more arrests in coming days."

Pakistan renews cooperation offer: International obligations to be fulfilled: Defence Committee
A quote...."ISLAMABAD, Dec 8: Pakistan has renewed its offer of full cooperation to India, including intelligence-sharing and assistance in investigation into the Mumbai attacks as well as setting up a joint investigation commission. The announcement was made on Monday after a meeting of the defence committee of the cabinet, which reviewed the regional security situation in the backdrop of renewed Pakistan-India tensions."

Muslims in India Put Aside Grievances to Repudiate Terrorism
A quote...."Published: December 7, 2008  -- MUMBAI, India — Throngs of Indian Muslims, ranging from Bollywood actors to skullcap-wearing seminary students, marched through the heart of Mumbai and several other cities on Sunday, holding up banners proclaiming their condemnation of terrorism and loyalty to the Indian state."

Reports planted by US, says former ISI chief
A quote...."Posted: Dec 08, 2008 at 0031 hrs IST -- New Delhi: Dismissing reports that Pakistan had decided to hand him over to Indian authorities in connection with the investigations into last week’s Terror attacks in Mumbai, former ISI chief General Hamid Gul on Sunday such reports were being “planted” by the United States to malign him."

End - The Mumbia Attack - 6 Articles - Tuesday - [ Day 13 ] ========== ========== ========== ====

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Gen. Hayden and the claimed irrelevance of presidential appointments
A quote...."A report from U.S. News & World Report today suggests that Obama is considering having Gen. Michael Hayden -- Bush's former NSA Director -- remain on as CIA Director.  I have no idea whether that report is true, but here is what I do know:" -- also posted at Uruknet

Obama Will Not Prosecute Bush And Cheney - Yep! - mpg
A quote...."Mark my words. President Obama will follow in the footsteps of his predecessors by not holding his predecessor, George W. Bush and members of his administration, liable for violating the United States Constitution and criminally responsible for treason, 9/11, financial fraud, mass murder and war crimes."

Will You Continue to Ignore Gaza's Suffering, Mr Obama? - Yep! - mpg
A quote...."Palestine and Palestinian suffering have always taken a back seat in the world's attention while the United States starts this war, finishes off that war, or expands it; while the world deals with wars and economic crises; while the attention of the compassionate is taken up by starvation and pestilence and war in Sudan or in Congo or Rwanda or Somalia. Throughout these crises – quite legitimate crises all – Palestine is always left to molder, sometimes at a more rapid pace in more inhumane circumstances than at other times."
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Gitmo Military Prosecutor Breaks His Silence
Video - A quote...."The tribunals used for putting suspects on trial at Guantanamo Bay are a "stain on America's military", a former military prosecutor has told the BBC in his first interview since resigning."

U.S. And Allies Tortured Kids in Iraq Prisons
This article is shocking, If there is to any meaning to the word justice, all personell who participated in these abominations must be prosecuted to the full extent of the law. - mpq -- A quote...."Since it invaded Iraq in 2003, the U.S. has detained thousands of juveniles---some of whom were tortured and sexually abused, according to published reports. Figures of the number of children behind bars vary. Some estimates put the number as high as 6,000." -- also posted at WarInIraq

British troops to leave Iraq in March: reports
A quote...."LONDON — Britain will start withdrawing most of its more than 4,000 troops from Iraq in March and plans to leave only 400 personnel by mid-2009, British newspapers reported on Wednesday."

Return of the Sticky Bomb
A quote...."Insurgent groups in Baghdad have added a new weapon to their urban warfare armoury by developing a small but deadly device to destroy vehicles carrying government employees, police officers and military personnel. Known as 'sticky bombs', they consist of a few pounds of plastic explosive that can be moulded into shape and attached to the target by a magnet or adhesive tape, then detonated by a timer or mobile phone. "

Coalition air raid kills 6 Afghan police
A quote...."US-led coalition air raid on a police station in southern Afghanistan has killed at least six police, wounded 11 others and killed one civilian."

Breaking the Stranglehold on Middle East News Coverage?
Interview -- Joshua Frank talks with Press TV correspondent Afshin Rattansi -- A quote...."December 10, 2008 "Information Clearinghouse" -- Afshin Rattansi has for more than a decade worked in broadcast and print media around the world. In the UK, he has worked at The Guardian, the New Statesman, for every regional and national outlet of the BBC. In 1999, he helped to launch the developing world's first global financial news and current affairs channel. He is currently a news anchor for Press TV. Rattansi has written six novels including "The Dream of the Decade - The London Novels". He recently spoke with Joshua Frank about Press TV. "

UN panel demands Israel lift Gaza blockade, free Palestinian prisoners
A quote...."The UN Human Rights Council called on Israel on Tuesday to take nearly 100 measures, from lifting its blockade on Gaza to releasing Arab detainees. -- The 47-member-state Council adopted its list of 99 recommendations by consensus at the end of a two-day review of Israel's human rights record."

Olmert: Shame sans substance
A quote...."The outgoing Israeli Prime Minister Ehud Olmert is all peace and love nowadays. One might even be driven to think he has developed a conscience. -- On Sunday, he told his Cabinet that he felt ashamed of the attacks by Jewish settlers on their innocent Palestinian neighbors in Hebron and went as far as equating the anti-Palestinian violence with “a pogrom.”

MIDEAST:  Gaza Fishermen Play Cat and Mouse with Israeli Navy
A quote...."RAMALLAH, West Bank, Dec 8 (IPS) - Israeli naval commandos recently hauled off three international peace activists off Palestinian fishing boats seven nautical miles off Gaza's coast. They were accompanying 15 Palestinian fishermen attempting to complete a day's fishing without being shot at or arrested by the Israeli navy."

Free Gaza Goes Fourth – Setting Sail Again The Newsletter of the Free Gaza Movement 1/2008, Dec. 8
A quote...."The Free Gaza Movement has successfully sailed three times from Cyprus to Gaza in a historic and ongoing endeavor to break the siege of Gaza. Now it goes fourth. The next voyage is scheduled for this Monday night and the ship has left the port. Calling it an “enemy entity”, Israel collectively punishes the whole population of the Gaza Strip – and Palestine in general – for something that is not really clear. If it was terror, the army and state would not create the conditions for violence by taking away the human rights and driving parts of the population into despair. The Free Gaza Movement takes a stand for Palestine and is fighting for equal rights. – Also in this issue: the situation in Gaza, the London meeting, the abducted Free Gaza members, a request for a php developer and the quote of the week."

Carter, in Lebanon, says ready to meet with Hezbollah officials
A quote...."Former United States President Jimmy Carter said Tuesday he is ready to meet with Hezbollah officials if the Lebanese militant group agreed to see him. Carter made the comments upon arrival in Lebanon where he will assess whether his Atlanta-based Carter Center would take part in monitoring next year's parliamentary elections."

Ergenekon agent spent time in northern New Jersey prior to 9/11
A quote...."(WMR) -- Tuncay Guney, the Turkish National Intelligence Organization (MIT) agent who was a key player in the right-wing “Deep State” Ergenekon movement that attempted to overthrow the Turkish government, spent time in North Jersey in the months prior to the 9/11 attacks, according to a reliable source who spoke to WMR."

December 3, 2008, 8:53 Alex Jones
RT-Video -- A quote...."The U.S. needs Georgia as a base to attack Iran in the future if it needed to, says Alex Jones, an American radio show host and documentary film-maker."

Russia against U.S. missiles in any European anti-missile plans
A quote...."MOSCOW, December 8 (RIA Novosti) - Any European missile defense network that includes elements of a U.S. missile shield in Poland and the Czech republic would be aimed against Russia, the Russian Foreign Ministry said on Monday."

Russian, Chinese defense ministers to meet in Beijing
A quote...."BEIJING, December 10 (RIA Novosti) - The Russian and Chinese defense ministers will meet in Beijing on Wednesday to discuss military cooperation, U.S. plans for a Central European missile shield, and North Korea's nuclear program."

How Holbrooke Lied His Way into a War
A quote...."Shortly before the bombing of Yugoslavia began in late March 1999, Richard Holbrooke met with Yugoslav President Slobodan Milosevic. By his own account, Holbrooke delivered the final ultimatum to Milosevic -- that if Yugoslavia didn't agree to the Rambouillet text, NATO would begin bombing. -- The Rambouillet text called for a defacto occupation of Yugoslavia. On major U.S. media, after the bombing of Yugoslavia began, Holbrooke claimed that what was called for in the Rambouillet text, despite Serbian protests, "isn't an occupation". Several weeks later, when confronted by a journalist familiar with the Rambouillet text, Holbrooke claimed: "I never said that". This was a lie, it was also a tacit admission that the Rambouillet text did call for an occupation (why else would Holbrooke deny saying it when he had?) So the U.S. demanded that Yugoslavia submit to occupation or be bombed -- and Holbrooke lied about this crucial fact when questioned about the cause of the war."

Imperialists just don't let you be: Or, let them eat dirt!
A quote...."In the December 5, 2008 issue of the Saigon Times Daily, on the front page there are two reports that say all you need to know about what imperialists do to you, even when you defeat them militarily and kick them out of your country."

How Rahm Emanuel Made Mega-Millions and Bought His Way to Power
A quote...."December 10, 2008 "Information Clearinghouse" -- ProPublica.. Posted December 9, 2008  -- Since Rahm Emanuel was appointed the next White House chief of staff last month, ProPublica has been retracing his previous life as an investment banker, which earned him more than $18 million in less than three years. -- The New York Times recently shed new light on Emanuel's Wall Street days -- and how they helped send him to Congress."

Siegelman appeal today...
A quote...."I may not have time to get the appeal outcome, but FYI, today Siegelman argues that his case be overturned in front of the 11th Circuit Court of Appeals. If I still have an internet connection, I will keep you posted. I would also appreciate you folks keeping me posted in the comments as well. -- If you are not familiar with the Don Siegelman case (as well as the other cases of political prosecutions, including Paul Minor, Oliver Diaz, etc.) then read my investigative series, here are the links to each installment below:...."

Part 1 - Political Prisoner
Part 2 - Siegelman's Daughter Speaks Out
Part 3 - Karl Rove Running Elections from the White House
Part 4 - Mississippi Prosecution, Justice Oliver Diaz
Part 5 - Justice Diaz Speaks
Part 6 - Break-ins plague targets of political prosecutions
Part 7 - Justice for Sale

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Three-Month Treasury Bills Lowest Since Auctions Began in 1929
A quote...."Why are treasuries at their lowest-ever rate? - Some of it is certainly because investors fear any other asset class except cash, given the massive economic crisis we face. - But analysts also point out other contributing factors:

American International Group faces $10 bln in losses on speculative trades, reports WSJ - Update
Financial Alert -- A quote...."Troubled insurer American International Group Inc. (AIG:  News ) is facing $10 billion in losses on trades, reported the Wall Street Journal. The company reportedly owes this money to Wall Street's biggest firms for speculative trades that turned bad. The losses total less than $10 billion of the company's $71.6 billion exposure to derivative contracts on debt pools called collateralized debt obligations as of September 30 -- The insurer is seeking to recover under a U.S. government rescue plan, but the newly surfaced losses are not covered by the terms of the current $150 billion rescue package for AIG."

How Bad Could It Get?
A quote...."In "What Goes Up", I discussed the law of booms and busts. A big boom with easy credit leads to a big bust. - The question is, given the boom we had between 2001-2007, how bad a bust might we have?"

World economy could shrink for first time since 1945
A quote...."Politicians must prepare themselves for the possibility that global economic growth shrinks for the first time since the Second World War, according to the World Bank."

Card Check
Special Note - A quote...."Paul L. Kasriel, the Director of Economic Research at The Northern Trust Company summed up Bernanke's dilemma like this: -- "In a sustained housing bust that causes banks to take a big hit to their capital (low interest rates) simply will not matter. This is essentially what happened recently in Japan and also in the US during the Great Depression. Most people are not aware of actions the Fed took during the Great Depression. Bernanke claims that the Fed did not act strong enough during the great depression. This is simply not true. The Fed slashed interest rates and injected huge sums of base money but it did no good. More recently, Japan did the same thing. It also did no good. If default rates get high enough, banks will simply be unwilling to lend which will severely limit money and credit creation." (Interview with Paul Kasriel; Mish's Global Economic Trend Analysis)"

Regulator: High number of mortgages re-defaulting
Special Note - Financial Warning - A quote...."WASHINGTON(MarketWatch) - Office of the Comptroller of the Currency director John Dugan on Monday released statistics showing a high re-default rate on mortgages that have been modified in the first two quarters of 2008. "The results were surprising, and not in a good way," Dugan told a gathering in Washington at the Office of Thrift Supervision's annual conference. According to the OCC statistics, which looked at loans modified in the first quarter and second quarter of 2008, 36% of borrowers had re-defaulted by being more than 30 days past due and after six months, the rate was roughly 56%." -- bold/underline by website editor -- This is not good, period. - mpg

A Car Dealer Explains Why the Bailout is a Raw Deal
A quote..."I was chatting with the guy standing behind me who works at one of the 14 dealerships in a Philadelphia-area regional family-owned chain of GM dealerships called Bergey’s. Noting that a number of big dealers like Knopf (a Chrysler Dealer) and McGarrity’s (Ford) had been closing, I asked this Bergey’s manager if the problem was that the banks had frozen lending, making it hard for people to buy new cars. -- He laughed. “There’s no problem getting car loans from the small community banks around our dealerships,” he said. “They’ve got plenty of money to lend, and they’re happy to lend it to car buyers. The problem is that people are too worried about the economy and about their jobs to go out and buy a new car.”

Central America and Dominican Republic agree to create single currency
A quote...."(AFP). The presidents of the Central American countries and the Dominican Republic agreed on Friday to create a single currency and agreed a "plan of urgent measures" to tackle the financial crisis, which is contemplating to create a credit pool and stimulate intra-regional trade."

Central America Pushes For Unified Currency - Yes, yes, yes...de-couple from the dollar, it's their only hope. - mpg
A quote..."With the global financial slowdown dragging on Central American economies, eight heads of state came together in Honduras Friday to discuss how to head off the effects of the credit crisis. Presidents and vice presidents of the seven Central American countries plus the Dominican Republic for the annual Central American Integration System (SICA) leaders summit in San Pedro Sula, Honduras. The leaders hammered out a 41-point economic agreement of “urgent measures,”including proposals to step up integration, food security, and investment. The countries also pitched the idea of creating a common currency. El Salvador and Panama use the U.S. dollar while the remaining countries currently have their own currencies."

Oldsmobile Nation
Special Note -- A quote...." The solution of Japan was to hide the so-called zombie loans of the zombie banks. That is not Washington's way. The banks' losses have been laid out for all the world to see. Then Congress engineered a series of bailouts to allow huge banks to be absorbed by larger banks. Number-four Wachovia was absorbed by number-one Citigroup in late September. Two months later, Citigroup was within a weekend of bankruptcy. The Treasury Department bailed it out."

China November PPI falls to 2% - China PPI falls to 6.6 % in October - China CPI eases to 4% in October
It's called deflation....in China of all places. Think of what THAT means for the rest of the world. - mpg

Monday December 8th 2008

WASHINGTON, Dec 8 (IPS) - A bipartisan task force of former top national security policymakers is calling on the incoming administration of President-elect Barack Obama to make the prevention of genocide and mass atrocities overseas a top U.S. foreign policy priority. In a report released here Monday, the group, which was co-chaired by former President Bill Clinton's Pentagon chief, William Cohen, and secretary of state, Madeleine [killing five hundred thousand Iraqi children was worth it] Albright, argued that mass atrocities threaten core U.S. national interests [especially in countries with lots of valuable natural resources] and that the national security bureaucracy should be reformed [given tons more money] to reflect that priority. [Otherwise known as the PNAC Deux Option]

Sunday December 7th 2008

Friday December 5th 2008

A Loud Silence
Must Read - A quote...."That's the response from the "antiwar" wing of the Democratic party to Obama's Iraq sellout. -- Is it really possible that President-elect Barack Obama intends to break his campaign promise to "end the war" in Iraq, and keep US troops in that country well beyond the sixteen month timetable for withdrawal he advocated during the campaign? -- The answer, according to the New York Times, is a fairly certain yes:" -- also posted at LewRockwell

The Mumbia Attack - 7 Articles - Friday - [ Day 10 ] ========== ========== ========== ====

Police: Mumbai gunman's mobile SIM card possibly from New Jersey
A quote...."The sole Mumbai gunman to be taken alive has said he was paid 150,000 Pakistani rupees – about £1,300 or $1,900 – for his part in the attacks that killed nearly 200 people, according to police. -- "He has said the payment was 1.5 lakhs (150,000) of Pakistani rupees," Rakesh Maria, the joint commissioner of Mumbai police, who is one of the interrogators questioning Azam Amir Kasab, told The Times. -- Police are also investigating a possible link to the United States – a mobile SIM card found with the terrorists which possibly came from New Jersey. "Nothing is confirmed, but we are looking at this and have made enquiries with mobile operators," Mr Maria said." -- bold by website editor

Mumbai attacks: Indian operative 'helped Pakistani militants'
A quote...."Last Updated: 2:46PM GMT 05 Dec 2008 -- A Pakistani militant group used an Indian operative as far back as 2007 to scout targets for the elaborate plot against India's financial capital, authorities have said. The discovery is a blow to Indian officials who have blamed the deadly attacks entirely on Pakistani extremists."

Details emerge on CIA terror plot warnings
Special Note -- A quote...."MUMBAI: Indian intelligence sources have confirmed to The Hindu that the Central Intelligence Agency (CIA) delivered two warnings of an impending terror attack on Mumbai in September. The first one was delivered through the Research and Analysis Wing (RAW) on September 18. The sources said the information was of a general nature, suggesting that the Lashkar-e-Taiba was planning to attack Mumbai. -- The sources said that on September 24, the CIA provided further details in response to a request from the RAW. In this second warning, the U.S. agency expressly stated that the Lashkar was planning an attack on targets where large numbers of foreigners were present, including the Taj Mahal hotel."

Mumbai: Was it Indeed an Islamic Terror Attack? Were Muslims even Involved?
A quote...."Friday, December 5, 2008 at 12:04AM -- If the Mumbai terrorists' background was consistent with the single captured survivor, then the terrorist actions were not performed by Muslims, but by mercenaries, that is soldiers of fortune, hired criminals, paid to murder and terrorize, for non-religious reasons, and funded by unknown criminal gangs for purposes also unknown. The obvious motivation of such gangs might be to encourage political instability in the region, and heighten military and diplomatic pressure on the government of Pakistan. This certainly suggests that the criminal gangs who hired the mercenary terrorists in Mumbai, were like their soldiers, motivated also by financial gain, as criminal gangs tend to be so engaged, and that the gangs themselves were hired by perhaps non-Pakistani actors, with ambitions for control of the government of Pakistan."

Propaganda Recycled: US Report Blames Pakistan For Future WMD Attack
A quote...."In a blatant effort to bolster the ailing war on terror, a report produced as part of a mandate by the U.S. Congress has concluded that a major terror attack will occur somewhere in the world before 2013 and that the blame will firmly fall at the feet of Pakistan." -- For more on this issue see....It Will Happen Every Single Time - 01-01-08 - mpg

US Accuses Retired ISI Officials in Mumbai Attack
A quote...."The United States has reportedly submitted a list of four former high-ranking officials in Pakistan’s Inter-Services Intelligence (ISI) Agency to the United Nations to be added to the UN Security Council’s list of international terrorists. The move comes after claims that US intelligence agencies determined former ISI officials trained the Mumbai attackers. -- Though neither the US or UN have yet revealed the names on the list, former ISI chief Lieutenant General Hamid Gul confirmed that he was included on the list. The retired General Gul was a backer of the anti-Soviet insurgency in Afghanistan, and openly backed separatist factions in India during his tenure at the ISI. He has also been an outspoken critic of America’s presence in the region, calling for the Muslim world to “stand united to confront the US in its so-called war against terror.” -- The US was quick to point out that it had no “specific links” between the Mumbai attacks and the Pakistani government. Still, Secretary of State Condoleezza Rice has pressured Pakistan to take “responsibility” for dealing with the attackers." -- bold by website editor

Indian media under fire for Mumbai attacks coverage
A quote...." Ankara - Pakistan President Asif Ali Zardari on Friday refused to deny reports that the attacks in the Indian city of Mumbai were carried out by people operating from Pakistan. -- 'Pakistan has always discouraged, and our position that we are the victims of terrorism. Pakistan is currently doing its own internal investigation and it is waiting for concrete proof,' Zardari said."

End - The Mumbia Attack - 7 Articles - Friday - [ Day 10 ] ========== ========== ========== ====

Applying the Rule of Law to All Heads of State
A quote...."JURIST Guest Columnist Peter Erlinder of William Mitchell College of Law, says that the recent conviction of “Chuckie" Taylor suggests that President-elect Obama has a chance to demonstrate, by example, what the Rule of Law and “equality before the law,” means to the new administration…and to him..." -- also posted CommonDreams

Harper's Coup; Power Grab in Ottawa
A quote...."December 05, 2008 "Information Clearinghouse" ---On Thursday, Prime Minister Stephen Harper suspended Canada's parliament to avoid a challenge from opposition parties that were planning to oust him from power. The 3-party coalition--the Liberals, the NDP and the Bloc Quebecois---decided to remove Harper because of his strong opposition to a stimulus package that was designed to minimize the effects of the financial crisis. They also opposed his "proposed elimination of subsidies for political parties, a three-year ban on the right of civil servants to strike, and limits on the ability of women to sue for pay equity." Governor General Michaelle Jean helped Harper to hang on by using her constitutional authority to close the legislature for seven weeks. Now the country is in a furor." -- For more on this issue see....White Man's Burden - 12-20-06 - mpg

Justices to Decide Legality of Indefinite Detention
A quote...."The Supreme Court said yesterday it will decide whether the president may order the indefinite detention of suspects living lawfully in the United States, one of the broadest claims of executive power the Bush administration has asserted in the nation's anti-terrorism efforts."

AP Exclusive: Pentagon to recruit aliens on visas
It's funny, the Roman Empire used to do the exact same thing to recruit their mercenaries, offer them a chance for citizenship in the Empire if they killed for the Empire. - mpg -- A quote...."Struggling to find enough doctors, nurses and linguists for the war effort, the Pentagon will temporarily recruit foreigners who have been living in the United States on student and work visas, or with refugee or political asylum status."

U.S. Collective Dictatorship Enlarges
Special Note -- A quote...."To understand what is happening now in the U.S., it is useful to compare the parallel developments that occurred in Nazi Germany. The German central bank, the Reichsbank, was far more restricted by law (before 1939) than our central bank, the Federal Reserve (Fed) in the kinds and amounts of loans it could make. The Fed, in this sense, is far more powerful than the Reichsbank was before 1939. The Reichsbank was, like the Fed, independent of the government. The German government could not order it to make loans to the government, for example. This situation changed in 1939 when the Nazi government needed more funds to finance its armament build-up. At that point, the government basically absorbed the Reichsbank."

LBJ Tapes Contain Unexploded Bombshells -- Lies, Treason and Perhaps Tens of Thousands of Lives Lost @ BzFlsh
A quote...."Historians and investigative journalists -- even government prosecutors -- need to get cracking to explain and connect the dots from new details coming out in just-released recordings from both the Johnson and Nixon presidencies. LBJ was furious with Nixon, audiotapes of telephone conversations now show, over the likelihood that Nixon put politics first ahead of bringing the Vietnam war to a swift conclusion in 1968. As LBJ told Senate Republican leader Everett Dirksen, "This is treason."

Iraqi Parliament Criticizes Shell Natural Gas Deal
A quote...."The Iraqi Parliament recently criticized the Oil Ministry’s decision to sign a natural gas deal with Royal Dutch Shell. The Oil and Gas Committee said that the Oil Ministry had mishandled its business with Shell to develop natural gas that is produced from Basra’s oil fields. The committee said that the negotiations lacked transparency, would give Shell a 25-year monopoly, and was therefore against the national interests of the country. They suggested that the government renegotiate the agreement. The Oil Ministry responded by saying that there was nothing wrong with their talks with Shell, and that everything was legal." -- Good for the Iraqis, NOBODY should be forced to do a deal under the barral of a gun. - mpg

Indian prime minister says India and Russia sign a civilian nuclear agreement
A quote...."India's prime minister says India and Russia have signed a nuclear deal that is expected to see Russia build four nuclear reactors for power-starved India."
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The liquidity trap -- Commentary: Financial engineering seems worse than the alternative
Special Note - A quote...."People used to boast about hot stocks they owned. Now they crow about how much of their money is in cash. Those holding cash have been richly rewarded with no losses and opportunities to buy assets (condos and equities) at huge discounts."

Did December 2nd Mark the Beginning of the End for Paper Currencies?
A quote...."Professor Emeritus of Mathematics Antal E. Fekete says that December 2nd marked the beginning of the end for paper currencies and wealth based on such currencies:  ---  "It is no exaggeration to say that this event will trigger a tsunami wiping out the prosperity of the world."  ---  What's he babbling on about? Well, since at least 1972, the price of gold futures has been higher than the spot price of gold - a condition called "contango" by futures traders. But on December 2nd, for pretty much the first time ever, the futures price went below the spot price - what futures traders call "backwardation" - and has stayed there for several days. Fekete argues that this means that gold owners are hoarding their gold and simply won't sell, because (1) they're not confident that they'll be able to buy it back in the future, and (2) they have lost all faith in paper currency. He writes:"

Payrolls plunge by stunning 533,000 in November
Chart -- Website Editor's Note: Keep in mind the jobless rate is a lagging indicator  for the stock market, but what many people may not realize is that these numbers might look good, perhaps really good, by next year..... it's something to think about.- mpg -- A quote...."WASHINGTON (MarketWatch) -- U.S. nonfarm payrolls plunged by an astonishing 533,000 in November -- the worst job loss in 34 years -- the Labor Department reported Friday."

Mortgage Delinquencies, Foreclosures Rise to Record (Update3)
A quote...."Dec. 5 (Bloomberg) -- One in 10 American homeowners fell behind on mortgage payments or were in foreclosure during the third quarter as the world’s largest economy shed jobs and real estate prices tumbled."

1 in 10 homeowners behind on mortgage payments, or in foreclosure...
A quote...."One in 10 American homeowners fell behind on mortgage payments or were in foreclosure during the third quarter as the world’s largest economy shed jobs and real estate prices tumbled."

Some US bank bailout holdings down $9 billion
A quote...."The government mounted a vigorous defense Friday of its massive bank bailout, responding to an Associated Press analysis showing that stock in the program intended to eventually earn taxpayers a profit has lost about one-third of its value -- nearly $9 billion -- in barely one month. -- Shares in virtually every bank that received federal money have remained below the prices the government negotiated."

FDIC shuts failed bank in Georgia
A quote...."WASHINGTON (AP) -- Regulators on Friday shut down First Georgia Community Bank, the 23rd U.S. bank failure this year."

Chrysler hires law firm as bankruptcy counsel: report
Full quote...."(Reuters) - Chrysler has hired Jones Day law firm as its bankruptcy counsel, the Wall Street Journal reported on Friday."

California Eyes IOUs for Second Time Since Depression (Update1)
A quote...."Dec. 5 (Bloomberg) -- California, the world’s eighth-largest economy, may pay vendors with IOUs for only the second time since the Great Depression, State Finance Director Mike Genest said." -- Now we're gonna have a market in California IOU's, no doubt they'll set up some sort of exchange to trade them.  California should just say they're good for legal tender and compete with the Fed..... or is that called counterfeiting?

Thursday December 4th 2008

The Mumbia Attack - 11 Articles - Thursday - [ Day 9 ] ========== ========== ========== ====
    
The Mumbai Attacks: More Than Meets The Eye
Must Read - A quote...."04 December, 2008 -- Details have emerged regarding who was responsible for the recent terrorist attacks in Mumbai, India, with the evidence pointing to the Pakistani-based terrorist group Lashkar-e-Taiba (LeT). But the trail doesn't end there. -- Indications of a coming attack were reportedly received by intelligence agencies well in advance. US signals intelligence (SIGINT) picked up a spike in “chatter” indicating something was brewing, which was supported by information from assets in Afghanistan and Pakistan. Some of the information that was received by US intelligence was passed on to India as early as September."

“India’s 9/11”:Perils In Parallels
Special Note -- A quote...."04 December, 2008 -- A reading of the western press, gives the impression that India is about to bomb Pakistan, home to the “Islamic Bomb.” While reading the Indian press, one finds that there are many sane Indians who are questioning the lethargy of Indian Government and challenging the fundamentalist Hindutva leadership. The former is still trying to figure out who to blame and the latter wants to rush and unleash the “Hindu Bomb.” -- We must not forget that a recent train bombing being assigned to “Pakistani agents” was indeed the work of a serving Indian army officer and his comrades." -- bold by webstie editor

Financing terror: the Lashkar and beyond
Special Note -- A quote...."Dec 5th, 2008  -- The Wahabi brand of Sunni Islam that the Lashkar owes allegiance to is an ultra- conservative version founded in the 18th century in Saudi Arabia by Muhammad ibn Abd al-Wahhab (1703-1792). The Al-Saud dynasty that rules Saudi Arabia professes the Wahabi faith. Fuelled by oil money, and to cloak their own lavish lifestyles, the rulers pump in money for Wahabi missionary activity all over the world. According to The New Yorker’s investigative journalist Seymore Hersh, the Saud regime is “increasingly corrupt, alienated from the country’s religious rank and file, and so weakened and frightened that it has brokered its future by channeling hundreds of millions of dollars in what amounts to protection money to fundamentalist groups that wish to overthrow it.” This is a practice that has been referred to as “Petro-Islam.” Muslim Brotherhood chapters all over the world have also been allegedly helped in a similar manner."

LaRouche Asks: Will the Saudi Sponsored Terrorists Find Themselves In Hot Water Without Bush
A quote...."December 4, 2008 (LPAC)--The U.S. Treasury Department has exhaustive evidence about Saudi Arabian government financing of radical Islamic networks of terrorists, including those involved in the attacks last week in Mumbai, India, reported well-informed U.S. intelligence sources. But the Saudis are still getting "special treatment," despite this evidence, including information that ties the training camps of the Lashkar e-Toiba to Saudi funding in Pakistan. -- In the wake of the Mumbai attack, Lyndon LaRouche asked, ``Will the Saudi sponsored terrorists find themselves in hot water, now that George W. Bush is leaving office?''

Washington exploits Mumbai attack to promote “war on terror”
A quote...."US Secretary of State Condoleezza Rice flew to New Delhi Wednesday, ostensibly to deliver US condolences for the 173 people killed in the terrorist attacks that rocked Mumbai last week and express solidarity with the people of India."

Mumbai after-shocks rattle Pakistan
A quote...."Dec 5, 2008 -- KARACHI - Ten young men from the Pakistan-based Lashkar-e-Taiba (LET) were sent on a "sacrificial" mission to Mumbai. Nine of them were killed - as they were expected to be - in battles with Indian security forces during their three-day rampage last week."

Is Pakistan to Blame? Mumbai Terror Attacks
A quote...."December 2, 2008 -- Watch Indian television and Pakistan is decidedly the culprit of the atrocious 26/11 attacks in Mumbai.  Star News projects cartoon images of Muslim terrorists receiving training in Pakistan.  Since 9/11 Bollywood has been successfully perpetuating the image of Muslims as terror-mongers and Star News clips reinforce the stereotype.  Other channels, such as NDTV, however, are less jingoistic and their very balanced Group Editor, Barkha Dutt, is doing her best to assuage knee-jerk reactions against both Muslims within India (about 14% of India’s population) and calls for war on Pakistan."

US backing for India fuels tensions with Pakistan
A quote...."5 December 2008 -- Far from damping down tensions between India and Pakistan, the visit by US Secretary of State Condoleezza Rice to the two countries in the wake of the Mumbai terrorist attacks has only added more fuel to the fire."

Pak not involved in Mumbai attacks India gave no evidence, President tells CNN Terror suspects not to be given to Delhi -- A quote...."Thursday, December 4 2008 -- Washington—Pakistan President Asif Ali Zardari has said Islamabad will not hand over suspected terrorists like Dawood Ibrahim, Masood Azhar and Hafiz Muhammad to India, but try and sentence them in its own courts if it had proof against them. -- “I am definitely going to look into all the possibility of any proof that is given to us,” Zardari said on CNN’s “Larry King Live” Tuesday when asked if he was going to comply with India’s demand to hand over some 20 suspected terrorists believed to be living in Pakistan."

Indian Congress rejects joint probe
A quote...."Friday, December 05, 2008 -- NEW DELHI: The Indian National Congress has scoffed at Prime Minister Yousuf Raza Gilani’s idea of a ‘joint India-Pakistan probe’ into the Mumbai terror attacks, describing the suggestion as a ‘cruel joke’. Pakistan was quick to condemn last week’s Mumbai attacks, which left at least 188 people dead, and has offered joint investigations and pledged to take action against any individual or group found involved in the assault."

US massing aircraft carriers in Arabian Sea Ready to stop [mine laying at] sea by India, Pakistan
War Alert - A quote...."Thursday, December 4 2008 -- Islamabad—An Israeli website has reported that the United States has began massing at least three aircraft carriers with strike groups, task forces and nuclear submarines in the Arabian Sea opposite the shores of India, Pakistan and Iran."

End- The Mumbia Attack - 11 Articles - Thursday - [ Day 9 ] ========== ========== ========== ==

Why do Feinstein and Wyden sound much different on the torture issue now?
A quote...."Time constraints prevented me yesterday from writing about Dianne Feinstein's comments concerning torture in yesterday's New York Times, in which the California Senator -- who will replace Jay Rockefeller as Chairperson of the Senate Intelligence Committee -- rather clearly backtracked on what had been her repeated, unequivocal insistence throughout the year that the CIA should be required to comply with the Army Field Manual when interrogating detainees.  But Time's Michael Scherer picked up on the same backtracking and did a very good job of highlighting what appears to be Feinstein's (as well as Ron Wyden's) conspicuous, and rather disturbing, reversals." -- One wonders just how many times the Obamatrolls will have to be betrayed before they finally wake-up? - mpg -- also posted at CommonDreams
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Tell Congress and the Obama Administration to Restore The Rule Of Law
A quote...."HELP RESTORE WHAT IS BEST ABOUT THE UNITED STATES OF AMERICA.
Help restore our Constitution.
Help restore the rule of law. [1]
Help restore our nation’s system of checks and balances.
Help restore our nation’s commitment to our long-term treaty obligations, including the Geneva Conventions and the Convention Against Torture. -- For more on this issue see....Thirty Five Acts to Restore Americans' Rights - 11-10-06 - mpg

Retired Generals Press Obama to End Torture
A quote...."A group of retired US Generals and Admirals, led by former CENTCOM commander General Joseph Hoar, met with Vice President-elect Joe Biden and other senior members of the incoming administration’s transition team today, presenting a laundry list of changes they’d like to see."

Redefining 'Realism'
A quote...."The war regroups. What if Barack Obama, as he pursues his pragmatic strategy that so far seems to be 10 parts "reassurance" (to the defense and financial establishment) to one part "change," is really finished with his anti-war base for the next four years? -- I don't know if this is true, but his early moves in the game are gasp-inducing in the extreme:"
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Al-Maliki Refuses to Disband Councils; Talabani Invokes Constitutional Court; Basra Province Protests Iraqi Army
A quote...."The Kurdish president of Iraq, Jalal Talabani, is more or less threatening to sue the Shiite prime minister, Nuri al-Maliki. Al-Maliki has been creating Arab tribal councils loyal to himself, including in some areas of mixed Arab and Kurdish populations. Talabani maintains that these "support councils" have a paramilitary dimension and so are essentially militias, and so illegal. Al-Maliki has formally refused to dissolve them, however. He likens them to the "Awakening Councils" created by the US military among Sunni Arabs."

Iraqi guards open fire as migrants riot about deportation
A quote...."Migrant workers who paid thousands of dollars to get to Iraq, where they hoped to find jobs as contractors, rioted yesterday because they feared they were about to be deported. -- About 450 men were due to be flown out of Iraq last night after spending up to three months inside a warehouse compound near Baghdad airport. Another 500 from Bangladesh, Nepal, India and Sri Lanka will be forced to leave the country in the coming days after the Kuwaiti company that hired them failed to secure enough contract work at dining facilities inside US bases in Iraq." -- also posted at BLN

U.S.-led coalition in Iraq dwindles as allies leave
A quote...."BAGHDAD, Dec 3 (Reuters) - A string of departures by the U.S. military's allies in Iraq is turning into an exodus as violence subsides and the end of a U.N. mandate permitting their deployment to the country approaches."

Who Are the Taliban? The Afghan War Deciphered
Must Read - A quote...."If there is an exact location marking the West's failures in Afghanistan, it is the modest police checkpoint that sits on the main highway 20 minutes south of Kabul. The post signals the edge of the capital, a city of spectacular tension, blast walls, and standstill traffic. Beyond this point, Kabul's gritty, low-slung buildings and narrow streets give way to a vast plain of serene farmland hemmed in by sandy mountains. In this valley in Logar province, the American-backed government of Afghanistan no longer exists." -- also posted at LewRockwell

Changing the Rules -- The Syria Attack
A quote...."A little more than a month ago, four U.S. Blackhawk helicopters crossed the Syrian border from Iraq and attacked a civilian farmhouse near the town of al-Sukkariyeh. The U.S. claims the farmhouse was an al-Qaeda way station and the eight men killed during the raid were terrorists, including a major al-Qaeda leader, Abu Ghadiya. The Syrians say the dead—five of them members of the same family—were building a house and had nothing to do with terrorism or al-Qaeda. A BBC report found that most of the dead appeared to be construction workers, including a night watchman, which suggests the raid may have been botched."

Lebanon's Auon in a Syrian gambit
A quote...."Aoun had returned to Lebanon on the offensive, hateful of everyone and everything that kept him in exile for so long, and promising destruction of the existing order and sweet revenge. The Beirut he returned to in 2005 was very different from the war-torn city he had left behind. -- It did not bear the hallmarks of Rafik Hariri, the former Lebanese prime minister assassinated in 2005, yet, all the actors of Beirut 1990 are still there and most of them have been more than troubled by his comeback. -- They were even more alarmed by the 73-year-old's groundbreaking five-day visit to Damascus, which started on December 3. It is purportedly to signal that "the general", as his supporters call him, has finally turned a new page with his former enemies in Damascus."

Gaza: A bare life zone nearing to a no-life-zone
A quote...."With the last Israeli maneuvers of tightening the siege imposed on Gaza, more life necessities vanished. The key power plant shut down 27 days ago resulted in tremendous direful outcomes. More than 75 percent of the Gaza strip faces severe power cuts and some areas are completely plunged into darkness."

DISARMAMENT:  New Treaty Bans Weapons Victimising Civilians
A quote...."UNITED NATIONS, Dec 4 (IPS) - When the United Nations talks of "Israeli-occupied territories", the conventional definition is that these disputed lands include the West Bank, Gaza Strip, East Jerusalem and the Golan Heights -- all of them annexed after the 1967 Arab-Israeli war. -- But to most Lebanese, there are border villages inside southern Lebanon that are virtually "no-man's land" because of the myriads of cluster bombs air-dropped by Israel during its four-week conflict with the Islamic militant organisation Hezbollah in 2006."

Kidnapped At Gunpoint And Deported By Israeli Forces: And She Will Return
A quote...."On November 18, 2008, Darlene Wallach of California was kidnapped at gunpoint by Israeli forces and deported to New York City on Thanksgiving Day. She arrived without money, passport, cell phone, warm winter clothes and had no way of contacting her family and friends in California, London, or Cyprus."

Ukraine and Georgia: Entry into NATO Put Off Indefinitely
A quote...."NATO ministers in Brussels have decided to ignore US wishes and to delay the admission of Ukraine and of Georgia in effect indefinitely in what the Washington Administration is sheepishly trying to claim is a positive ‘compromise.’ The decision, following EU member state alarm last August over the prospect of European states having to go to war at some point against Russia over an incalculable despot in the Caucasus or in Kiev who decided to provoke Moscow to react, was simply too much."

NATO Backs Missile Shield Over Russian Protest
A quote...."NATO foreign ministers today praised America’s planned missile defense shield in Poland and the Czech Republic as making a “substantial contribution” to protecting Europe from long-range ballistic missiles."

Russia may lease nuclear subs to India
A quote...."Russia may lease out nuclear- powered submarines to India, President Dmitry Medvedev was quoted on Thursday as saying. Russia has a large fleet of nuclear-powered but conventionally armed submarines besides its force of strategic nuclear-armed vessels. Medvedev appeared to be referring to the former in an interview with Indian journalists."

Crisis-torn Canada suspends parliament
A quote...."Canada's crisis-torn parliament was suspended Thursday in a move which helped Prime Minister Stephen Harper block an opposition bid to topple his government and take over without fresh elections."

Bush’s revenge on the Sandinista movement
A quote...."THE Sandinista National Liberation Front (FSLN) continues to be a real specter and a feverish, sick obsession for U.S. imperialism. Since its beginnings, it has been the most consistent political force in Nicaragua to confront and expose Yankee domination and stand up for sovereignty and social justice in that impoverished and plundered country."
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From The Mouths Of Terrorists: The Poisonous Truth
Special Note - Some quotes...."Two weeks ago we were talking about the most recent terror propaganda from friends of Mossad and the CIA, an "al Qaeda video" in which al Qaeda's purported number two man, Ayman al-Zawahri, spoke some uncomfortable truths about our transformative new President-elect, Barack Obama."  --  "The video came to us via Rita Katz and the SITE Intelligence Group, which was called the SITE Institute until Katz' only partner left her holding the phony intelligence bag. It was the latest in a long line of questionable videos, some of which Katz has obtained before they appeared on the Islamist websites which SITE allegedly monitors."

Mossad implicated in a coup plot in Turkey, a NATO country; CIA fingerprints also found on attempt
A quote...."(WMR) -- Fresh from revelations, reported by WMR, that Israel’s Mossad and Chabad House-based criminal syndicates were targets in a criminal gangland retribution attack by a notorious Muslim gang in Mumbai, comes word that Mossad has, once again, been implicated in an intelligence and criminal network, this time in Turkey."

The ongoing disgrace of NBC News and Brian Williams
A quote...."The New York Times's David Barstow, whose excellent and aggressive journalism led to the uncovering last April of the Pentagon's domestic propaganda program involving network "military analysts," today returns to this topic with another lengthy front-page exposé.  Barstow focuses today on the numerous, undisclosed conflicts of interest of Gen. Barry McCaffrey, who continues to be featured frequently by NBC News as an objective analyst as he opines about war policies in which he has a substantial (and concealed) financial stake." -- also posted at CommonDreams -- Barstow's second article on this issue is shown below....


Flashback: U.S. Counterinsurgency Manual Leaked, Calls for False Flag Operations, Suspension of Human Rights
From the History File -- A quote...."Published on 04-12-2008 -- Wikileaks has released a sensitive 219 page US military counterinsurgency manual. The manual, Foreign Internal Defense Tactics Techniques and Procedures for Special Forces (1994, 2004), may be critically described as “what we learned about running death squads and propping up corrupt government in Latin America and how to apply it to other places”. Its contents are both history defining for Latin America and, given the continued role of US Special Forces in the suppression of insurgencies, including in Iraq and Afghanistan, history making."

Bush reported to be drinking heavily
A quote...."(WMR) -- With less than two months remaining in office, George W. Bush, witnessing a devastating defeat for the Republican Party, worse favorability ratings than those of Richard Nixon at the height of the Watergate scandal, and the most devastating economic situation since the Great Depression, is reported by a number of well-placed sources in Washington as drinking heavily." -- Probably what the author meant to say is "he's drinking much more heavily than usual". - mpg

[Flashback:] AFRICOM China and Congo Resource Wars
From the History File -- A quote...."By F. William Engdahl, 25 November, 2008 -- Just weeks after President George W. Bush signed the Order creating a new US military command dedicated to Africa, AFRICOM, events on the mineral-rich continent have erupted which suggest a major agenda of the incoming Obama Presidency will be for the son of a black Kenyan to focus US resources, military and other, on dealing with the Republic of Congo, the oil-rich Gulf of Guinea, the oil-rich Darfur region of southern Sudan and increasingly the Somali ‘pirate threat’ to sea lanes in the Red Sea and Indian Ocean. The legitimate question is whether it is mere coincidence that Africa appears just at this time to become a new geopolitical ‘hot spot’ or whether it has a direct link to the formal creation of AFRICOM" -- also posted at BLN -- For more on this issue see....Africa - the Next Target - 02-28-08 - mpg

European Court Rules Against Britain’s Policy of Keeping DNA Database of Suspects
A quote...."LONDON — The European Court of Human Rights ruled unanimously on Thursday that Britain’s policy of gathering and storing the fingerprints and DNA of all criminal suspects — even those who turn out to be innocent — was a violation of the human right to privacy."

CNN: No one has Standing to Enforce Constitution
A quote...."CNN legal analyst Jeffrey Toobin says that the Constitution will not “be an impediment” to Hillary Clinton becoming Secretary of State -- even though Article 1, Section 6 specifically - and without exception or condition - prohibits her appointment. Clearly Prohibits Clinton’s Appointment to the Cabinet


Change.NOT: Left Gatekeeper Blocks Support for 9/11 Commission Records Release
A quote...."According to their "About" page, Change.org aims to be "the central platform informing and empowering movements for social change around the most important issues of our time", but they are censoring support for investigating the causes of 9/11, "the day the changed everything" and the reason we live in a "post 9/11 world." On their "Ideas" page, they invite you, the public, to sign up on their site and "submit your ideas for how to change America, discuss with others, and vote for your favorites." What they don't tell you on their About or Ideas pages, is that if your idea suggests further investigation of the 9/11 events in order to properly inform public policy making, it will be deleted."
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9/11 - From The History File...Pentagon Truth: Rumsfeld's "missile" hoax debunked by 9/11 truth activists -article list

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Bernanke's Playbook
Special Note -- A quote...."Ben Bernanke is different from Greenspan. He has a playbook. He has spent his career studying Milton Friedman's now-dominant 1963 interpretation of the failure of Federal Reserve Policy, 1930–33, in not reversing the Great Depression. The FED did not inflate, Friedman said. This was in contrast to Murray Rothbard's 1963 interpretation of the same era. He argued that the FED did inflate, 1924–29, which created the boom that busted in 1929. Had Bernanke studied Murray Rothbard's 1963 book on Federal Reserve policy as the cause of the Great Depression, he might have had a very different career, perhaps teaching in a community college in North Dakota. -- also posted at InfoWars -- The author makes the contention that there will be massive inflation, perhaps even Weimar Republic style hyper-inflation in a few years.  This website editor agrees but ONLY IF Bernanke wins the inflation game, and with over $1.3 to $1.5 Quadrillion dollars worth of deravatives out there, much of it going south in a hurry....it looks like good'ol Ben is going to lose this game in a big way. - mpg -- For more on this issue see.... Effective Fed Funds Rate & Total Nonfarm Payrolls

The Dollar and the Tower Get in Bed
A quote...."Mark Lawrence created the Skyscraper Index in 1999. That index showed the correlation between economic crashes and tall buildings. The correlation can be unnerving, especially for those in the architecture profession, such as myself. But the past 100 years show strong evidence for Lawrence – almost every time the tallest building in the world is built, there is an economic crash to follow."

Financial bailout: a necessary evil - (YouTube - 11 min 59 sec - December 03, 2008)
Video - A quote...."Bailing out U.S. financial institutions comes at a high price for society, but the alternative is a global collapse that would be much worse, believes New York University economics Professor Nouriel Roubini.

U.S. Federal Reserve May Buy U.S. Treasuries - This is beyond stupid. - mpg
Financial Warning - A quote...."This doesn’t make any sense. The U.S. Government authorizes the Fed to create money out of thin air, which it will then use to buy up the debt of the U.S. Government that nobody else wants? -- Is anyone who is currently holding U.S. Treasuries even reading the news? The auctions are going to fail, so the debtor is just going to snap his fingers and create the money to buy the debt that nobody else wanted to buy? -- How does the dollar not collapse on this?"

The Risk of Default by the UK has Risen 98% In the Last Month
A quote...."The amount of credit default swap wagers betting that governments will default on their obligations was stunning a month ago: more than 1 trillion dollars. -- In the last month, things have gotten even worse, and some major Western economies are getting hammered by CDS."

The Feast of the Vampires
A quote...."People occasionally note that the United States no longer "makes" anything. That seems a bit unfair to me. I think a very strong case indeed could be made for the United States as the leading world supplier of the empty, insultingly stupid charades typical of declining empire:"

Fortress, the Hedge Fund, Is Crumbling
A quote...."When Wesley R. Edens and his partners founded their investment firm a decade ago, they chose a name that evoked unshakeable bastions: Fortress."

U.S. Retail Sales Fall in Worst Drop in Four Decades
Special Note -- A quote...."Dec. 4 (Bloomberg) -- Sales at U.S. retailers tumbled in November, the worst monthly decline in almost four decades, after the Wall Street meltdown caused consumers to postpone shopping until the holiday-sales kickoff on Black Friday." - bold by website editor

Factory Orders in the U.S. Decrease 5.1%, Most in 8 Years
Special Note -- A quote...."Dec. 4 (Bloomberg) -- Orders placed with U.S. factories in October fell by the most in 8 years, signaling a decline in manufacturing will contribute to deepening the recession." -- bold by website editor

Layoffs soar as US plunges deeper into recession
A quote...."New economic reports show that the severity of the US recession and the speed with which it is developing are greater than anticipated by economists and business forecasters. Data released Wednesday reveal a sharp rise in layoffs in virtually every sector of the economy, continuing distress in credit markets, financial instability and slumping consumer demand. The indices portend a recession more severe and protracted than any since the Great Depression of the 1930s."

Over 1 million U.S. layoffs so far this year
A quote...."(12-03) 19:28 PST  -- Big employers nationwide announced 181,671 layoffs in November, bringing the number of corporate pink slips issued so far this year to more than a million, according to an industry survey released Wednesday."
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Darling is running out of options as rates near zero
A quote...."The Bank of England has cut rates to their lowest level for 57 years. But the pound still slumped, house prices are falling and job losses are soaring. So are the authorities running out of options?"

Carnage on the high street as retailers feel the chill
A quote...."Two more high-street retailers called in the administrators yesterday as the sector braced itself for tens of thousands of job losses and hundreds of store closures over the coming months."

Wednesday December 3rd 2008

Once-secret Reagan administration documents on Iraq
Special Note -- A quote...."(CNN) -- The U.S. diplomatic courtship with Iraq in the 1980s continued despite Saddam Hussein's use of chemical weapons. Click on the links to read once-classified documents from the Reagan administration."

Low Estimate:                                       "High" Estimate:
$700 Billion x 58 = $41 Trillion               $8.5 Trillion x 58 = $493 Trillion
$700 Billion x 70 = $49 Trillion               $8.5 Trillion x 58 = $493 Trillion

"Credit default swap spreads spiralled wider worldwide on Wednesday as low volumes and bearish sentiment drove the cost of both sovereign and corporate default protection to unprecedented highs. --  The Markit iTraxx indices for European investment grade and junk debt jumped to new records while cds written on the debt of the UK, US, Italy, France, Spain and Germany were at all-time high levels."

Wednesday December 3rd 2008

Once-secret Reagan administration documents on Iraq
Special Note -- A quote...."(CNN) -- The U.S. diplomatic courtship with Iraq in the 1980s continued despite Saddam Hussein's use of chemical weapons. Click on the links to read once-classified documents from the Reagan administration."

Low Estimate:                                       "High" Estimate:
$700 Billion x 58 = $41 Trillion               $8.5 Trillion x 58 = $493 Trillion
$700 Billion x 70 = $49 Trillion               $8.5 Trillion x 58 = $493 Trillion

"Credit default swap spreads spiralled wider worldwide on Wednesday as low volumes and bearish sentiment drove the cost of both sovereign and corporate default protection to unprecedented highs. --  The Markit iTraxx indices for European investment grade and junk debt jumped to new records while cds written on the debt of the UK, US, Italy, France, Spain and Germany were at all-time high levels."