Archive for October, 2010

Most sobering lecture on our future

Sunday, October 31st, 2010

Full story here.

Fed is trying to force surge in commodities

Sunday, October 31st, 2010

Full story here from ZeroHedge.

A Fed paper released in September, which we luckily missed as otherwise it would have led to the collective death through uncontrollable foaming in the mouth of the entire Zero Hedge staff, was “Oil Shocks and the Zero Bound on Nominal Interest Rates“, in which author Martin Bodenstein (an econ Ph.D.) argues that oil price shocks (i.e., surges in the price of oil such as the one we are about to experience courtesy of a fresh trillion in liquidity about to be unleashed by the Fed) are… wait for it… beneficial to GDP and stimulative to the interest-rate sensitive parts of the economy. To wit: “In fact, if the increase in oil prices is gradual, the persistent rise in inflation can cause a GDP expansion.“. Yes you read that right. (more…)

North/South Koreas fire on one another

Friday, October 29th, 2010

Full story here from Huffington Post. Hmm, interesting timing.

North Korea fired over its heavily fortified southern border Friday, and South Korea retaliated in a rare instance of their cold war turning hot less than two weeks before President Barack Obama and other world leaders are due in Seoul for a global economic summit.

It was unclear late Friday whether North Korea’s firing of 14.5-mm rounds at a South Korean guard post in the Demilitarized Zone was an accident or an intentional provocation, an official with the Joint Chief of Staff in Seoul said.

However, the shooting – the first at the border since 2007 – came just hours after North Korea threatened to retaliate for South Korea’s refusal last week to hold military talks with its wartime rival.

Suspicious packages found at various airports

Friday, October 29th, 2010

Full story here from Huffington Post.

Authorities on three continents are investigating whether suspicious packages shipped from Yemen to Chicago religious sites are part of a terrorist plot.

Officials were investigating whether two packages – one described as containing a toner cartridge with wires attached and powder – were mailed as part of an attempted attack or a dry run for a future attack.

No explosives have been found in the U.S. Packages in England and Dubai continue to be tested.

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Me again. Read that last sentence again. NOTHING WAS FOUND. Suspicious (whatever that means) automatically means “terrorism”.  They keep dragging this old chestnut out so often, it’s lost its Cheney-fear-inducing luster. And here in San Francisco, your dear blogger was inconvenienced by a 1 1/2 hr bomb scare near the Jamba Juice. Hey folks, turns out it was nothing too! Sometimes a bag of dirty clothes is just a bag of dirty clothes. In summary, fuck this stupid shit. We don’t believe you anymore.

The tipping point has arrived

Thursday, October 28th, 2010

Full story here from ZeroHedge.

The Tipping Point has Arrived

Our age is retrospective.  It builds the sepulchres of the fathers.  It writes biographies, histories, and criticism.  The foregoing generations beheld God and nature face to face; we, through their eyes.  Why should not we also enjoy an original relation to the universe?  Why should not we have the a poetry and philosophy of insight and not of tradition, and a religion by revelation to us, and not the history of theirs?  Embosomed for a season in nature, whose floods of life stream around and through us, and invite us, by the powers they supply, to action proportioned to nature, why should we grope among the dry bones of the past, or put the living generation into masquerade out of its faded wardrobe?  The sun shines today also.  There is more wool and flax in the fields.  There are new lands, new men, new thoughts.  Let us demand out own works and laws and worship.

- Ralph Waldo Emerson, Nature (more…)

Imminent big bank death spiral means gold will skyrocket

Thursday, October 28th, 2010

Full story here from Jim Willie.

The mortgage & foreclosure scandal runs so deep that ordinary observers can conclude the US financial foundation is laced with a cancer detectable by ordinary people. The metastasis is visible from the distribution of mortgage bonds into the commercial paper market, money market funds, the bank balance sheets, pension funds under management, foreign central banks, and countless financial funds across the globe. Some primary features of the cancerous tissue material are mortgage bond fraud, major securities violations, absent linkage to property title, income tax evasion, forged foreclosure documents, duplicate property linkage to single mortgage bonds, NINJA (no income, no job or assets) loans to unqualified buyers, and more. In fact, more is revealed it seems each passing week toward additional facie to high level and systemic fraud. The world is watching. The growing international reaction will be amplified demand for Gold, from recognition that the USDollar & USEconomy have RICO racketeering components extending to Wall Street banks and Fannie Mae mortgage repositories. (more…)

The far Right’s secret slush fund to keep fear alive

Thursday, October 28th, 2010

Full story here from Pam Martens. The Koch brothers are giving Monty Burns (of Simpsons fame) a run for his money in the evil machinations department. Remember, fear sells!

A secretive libertarian nonprofit with ties to Charles Koch bankrolled what was widely perceived to be a fear mongering effort to throw the Presidential election to Senator John McCain in 2008. Until now, where the money came from has been a hotly debated mystery.

Seven weeks before the Presidential election of 2008, approximately 100 newspapers and magazines in the U.S., including the New York Times, Wall Street Journal, Miami Herald, Philadelphia Inquirer, and St. Petersburg Times, distributed millions of DVDs of the documentary, “Obsession: Radical Islam’s War Against the West.”  The DVDs were included in the Sunday editions.  Altogether, including a separate direct mail campaign, 28 million DVDs flooded households in the swing voter states.

The newspapers did not know who was funding this massive propaganda campaign and, apparently, did not care. (more…)

America’s job losses are permanent

Thursday, October 28th, 2010

Full story here from Paul Craig Roberts via Counterpunch.

Now that a few Democrats and the remnants of the AFL-CIO are waking up to the destructive impact of jobs offshoring on the US economy and millions of American lives, globalism’s advocates have resurrected Dartmouth economist Matthew Slaughter’s discredited finding of several years ago that jobs offshoring by US corporations increases employment and wages in the US. (more…)

Dead files for 26 Oct – 1 Nov 2010

Wednesday, October 27th, 2010

1 Nov -

http://www.zerohedge.com/article/greek-leftist-guerrila-group-targets-sarkozy-bomb-attempt

Just headline for now from Reuters:

  • Greek police says 2 unexploded parcel bombs found on suspects, one addressed to Belgian Embassy
  • Greek police believes blast not linked to Al Qaeda, suspects may be linked to leftist Guerrilla
  • Greek police says one of package bombs intercepted in Athens addressed to French president Sarkozy
  • Greek police say both bombs are now diffused by controlled explosions

Deja vu of a certain archduke frolicking in southeast Europe and some such? No news if package originated in Yemen.

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27 Oct -

Ex-Argentine president dies suddenly of heart attack

http://www.huffingtonpost.com/2010/10/27/nestor-kirchner-dead-dies_n_774637.html

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27 Oct -

Angela Merkel has a stalker!

http://www.telegraph.co.uk/news/worldnews/europe/germany/8087844/Angela-Merkel-targeted-by-stalker.html

Turbo Timmy gets a bitch slapping

Monday, October 25th, 2010

Full story here from ZeroHedge.

SigTarp Neil Barofsky has just released the most scathing critique of all the idiots in the administration, with a particular soft spot for Tim Geithner.

On the failure of TARP to increase lending: (more…)