(MarketOracle) – SULTANS OF SWAP: BP Collapse Potentially More Devastating than Lehman!
As horrific as the gulf environmental catastrophe is, an even more intractable and cataclysmic disaster may be looming. The yet unknowable costs associated with clean-up, litigation and compensation damages due to arguably the world’s worst environmental tragedy, may be in the process of triggering a credit event by British Petroleum (BP) that will be equally devastating to global over-the-counter (OTC) derivatives. The potential contagion may eventually show that Lehman Bros. and Bear Stearns were simply early warning signals of the devastation lurking and continuing to grow unchecked in the $615T OTC Derivatives market. Read More Here
(DailyFinance) – Wall Street Apocalypse: The World of the Doomsday Investors – Read More Here
(Guardian) – Graduates warned of record 70 applicants for every job
Class of 2010 told to consider flipping burgers or shelf stacking to build skills as they also compete with last year’s graduates Read More Here
(DetroitNews) – Foreclosures plague Metro area towns – Read More Here
(DailyFinance) – Facing a $7 Billion Shortfall, the U.S. Postal Service Proposes to Raise Rates – Read More Here
(MaineBiz) – Maine foreclosures still rising – Read More Here
(Telegraph) – Europe’s ‘toothless’ bank tests making matters worse
RBS and other City institutions have warned that Europe’s stress tests for banks are almost useless and may further damage confidence if they fail to cover the risk of large losses on sovereign defaults by Greece and other Club Med states. Read More Here
(HuffingtonPost) – Reps. Paul & Frank: Why We Must Reduce Military Spending
By far the single most important of these is our current initiative to include substantial reductions in the projected level of American military spending as part of future deficit reduction efforts. For decades, the subject of military expenditures has been glaringly absent from public debate. Yet the Pentagon budget for 2010 is $693 billion — more than all other discretionary spending programs combined. Even subtracting the cost of the wars in Iraq and Afghanistan, military spending still amounts to over 42% of total spending. Read More Here
(NewAmericanEmpire) – Debt Deflation: A Long Economic Winter Ahead – Prof. Rodrigue Tremblay
The bond market is telling us that there could be hard economic times ahead and that deflation, for the time being, is more of a threat than inflation. Leading indicators are also pointing to possible economic weakness ahead. Read More Here
(MikeWhitney) – More Red Flags for the Economy
Bonds are signaling that the recovery is in trouble. The yield on the 10-year Treasury (2.97 percent) has fallen to levels not seen since the peak of the crisis while the yield on the two-year note has dropped to historic lows. This is a sign of extreme pessimism. Read More Here
(NECN) – Video: Mass. town will charge to keep street lights on – Video Link Here
(CharlieVLog) – Video: REALITY IS CLOSING IN
See Also: (CharlieVLog) – Video: Fast Track To The Bottom – Video Link Here
(PuppetGov.coM) – Video: America’s Controlled Economic Implosion – Video Link Here
(July 5) – Video: Alex Jones – It Feels like It’s 1932
(Bloomberg) – Sovereign Default Risk Rose 30% as European Debt Crisis Deepened, CMA Says – Read More Here
(NewsWeek) – Worse Than Wall Street – How shaky European banks could tip the world back into recession. – Read More Here
(TheEconomicCollapse) – No Jobs
Everyone knows that the United States is bleeding jobs. According to one new study, the private sector in the United States has lost 10.5 million jobs since 2007. The U.S. economy lost 125,000 more jobs during the month of June. Approximately a million frustrated American workers have simply dropped out of the employment market altogether over the past two months. But the question not enough people are asking is why so many jobs are being lost. Read More Here
(LVRJ) – WAYNE ALLYN ROOT: Barack Obama: The great jobs killer
As former President Ronald Reagan might have said, “Obama, there you go again.”
The current occupant of the White House claims to know how to create jobs. He claims jobs have been created. But so far the score is Great Obama Depression 2.2 million lost jobs, Obama 0 — a blowout. Read More Here
(TheStar) – A stock market forecast that says ‘take cover’
With the stock market lurching again, plenty of investors are nervous, and some are downright bearish. Then there’s Robert Prechter, the market forecaster and social theorist, who is in another league entirely.
Prechter is convinced we have entered a market decline of staggering proportions – perhaps the biggest of the last 300 years. Read More Here
(SeekingAlpha) – Cecchini: U.S. Consumers in ‘Dire’ Credit Situation
Peter Cecchini, chief strategist at BGC Financial, talks to Pimm Fox about the U.S. economy and consumer credit on Bloomberg Television’s “Taking Stock.” He says that the 122% percent household debt to GDP ratio is well above the pre-1980 average of 60-80%. Just to get back to a 100% to GDP ratio, we need an additional $2 trillion of deleveraging. In the absence of income growth, you just aren’t going to get these numbers down without deleveraging. Read More Here
(RevoltOfThePlebs) – Government Math… FOR KIDS!
Did you know that you and I can create millions, billions and even trillions of numbers just as easily as the Federal Reserve? All you have to do is use your imagination. Let’s try it! Read More Here
(Infowars) – California Implodes
California is the wealthiest and most populous State in America, and Los Angeles County is the largest county in America, so both the State and LA County wield unbelievable power in Washington D.C. The corruption in California affects you directly.
• How would you feel if you knew your federal tax dollars were being used to finance California’s corruption?
• You may be surprised to learn that the California State Legislators and the LA County Supervisors went to Washington D.C. to obtain the maximum federal funding for their extensive welfare, medical and illegal alien imprisonment programs, in order to claim the federal tax payer money in an end run around the other states.
• Imagine the end of the democratic process through judicial corruption, like that in LA County, replicated in your community.
July 6, 2010
|Richard Fine is a a tax payer advocate who exposed massive judicial corruption in LA County and is rotting away in prison.|
Richard Fine is a a tax payer advocate who exposed massive judicial corruption in LA County and is rotting away in prison. While there has been no trial, sentence or conviction against him, he has been in solitary confinement for the last 15 months. The discovery of judicial corruption, coupled with a violation of the Brown Act by the Los Angeles County Supervisors could justify the firing and criminal charges against the LA County Supervisors, the California State Los Angeles Superior Court Judges, the California State Legislators and Governor Arnold Schwarzenegger, among many others.
RICHARD FINE VS THE STATE OF CALIFORNIA AND LA COUNTY
Watch this video of Richard Fine describing the evil triangle of corruption between the LA County Supervisors, the LA Superior Court judges, LA County Sheriff Leroy Baca, LA District Attorney Steve Cooley and the California State Legislators who all cover for each other:
Since 2005, only 3 people have won cases against the County of Los Angeles when a LA Superior Court judge decided the case, leading many to conclude that the illegal payments authorized by the LA County Supervisors are bribes. Judicial Watch won a case, Sturgeon vs. LA County, which declared that the payments to the LA Superior Court judges are illegal. Both the LA Superior Court judges and the LA County Supervisors are incriminated in the illegal payments. But the California State Legislators, in bill SBX211, granted retroactive immunity from criminal prosecution to the judges and LA Supervisors- this is concrete evidence of criminal activity; why else would they need it?
Interestingly, when the California State Legislators granted the retroactive immunity from criminal prosecution to the judges and the LA Supervisors, they extended the retroactive immunity to all government officials associated with the illegal payments, including themselves! And Arnold Schwarzenegger is also complicit because he signed off on the bill.
Read the shocking court transcript of Judge Yaffee’s admission of taking payments from LA County and failing to advise prior litigants of his conflict of interest and failure to report the payments to the Fair Political Practices Commission by following this link (page 2), provided by Full Disclosure Network.(1)
LA County Sheriff Leroy Baca is complicit for denying Richard Fine ‘Habeas Corpus’, due process and keeping Fine in prison for the last 15 months with no charges, no trial, no conviction, nor any sentence.
The California State Bar has culpability because they disbarred Richard Fine from practicing law. Fine sued corrupt judges and lost those cases against them- the cases were decided by other judges who were receiving illegal payments. The California State Bar claimed that Fine was “abusing the process for challenging a judicial official”, and disbarred Fine.(2)
Both Federal and State Courts have denied all of Richard Fine’s petitions for Writ of Habeas Corpus and motions for hearings, so they also appear to be complicit. How high up does the corruption go? The US Supreme Court selected Richard Fine’s case but later denied to hear the case.
LA COUNTY SUPERVISORS VIOLATE THE BROWN ACT
In a separate incident in early May 2010, the California State Legislators and the LA County Supervisors took a trip to Washington D.C. to get federal funding for California’s extensive welfare, healthcare and illegal alien imprisonment programs. While California is facing extreme budget deficits, the State refuses to eliminate or reform these collectivist programs because it would end federal matching funds (provided by your tax dollars).(3)
If the programs were eliminated, the burden of financing them would fall upon the county tax payers. LA County would then have to face local tax payers who have become increasingly hostile to their wasteful ways, instead of running to Washington D.C. to get your money. Some Californians may think that it is good idea to let the federal government pay for these programs, but they wind up paying even more after the federal government takes its cut.
The Brown Act stipulates that when the majority of an elected body meets, the meeting must be open to the public and cameras are allowed. The LA County Supervisors Office posted a notice of the “public” meetings in Washington D.C., but they obviously didn’t expect any interested members of the public to actually show up to these long distance meetings, much less a reporter and a camera crew. Reporter Janet Levy and a three-man camera crew representing Full Disclosure Network were barred from attending 5 of the 10 meetings.(4)
In these questionable meetings, the five LA County Supervisors bargained with politicians Barbara Boxer, Henry Waxman, Dianne Feinstein and others (all welfare statists) to gain your tax dollars before other states had a chance to apply for the federal funds. The five LA County Supervisors who committed this deception are Gloria Molina, Zev Yaroslavsky, Mark Ridley- Thomas, Don Knabe and Michael Antonovich. The heart of the corruption is inside of the LA County Board of Supervisors Office.(5)
Full Disclosure Network and Judicial Watch have sent Public Records Act Requests for information about these secret meetings to the LA County Council weeks ago. They are required to respond within 10 days to the records request, yet there has been no response to date. Full Disclosure Network sent a request for investigation to LA County District Attorney Steve Cooley and California State Attorney General Jerry Brown. LA County DA Steve Cooley has ignored the request while Attorney General Jerry Brown has rejected investigation, claiming it is outside of his jurisdiction. All parties are in violation of their Oath of Office to follow the Constitution.
LA County District Attorney Steve Cooley is running for the office of California State Attorney General this November, and current Attorney General Jerry Brown is running for the California State Governor’s seat.
Watch this damning video about Steve Cooley recorded two years ago, which alleges that Cooley accepted bribe money from criminal defense attorneys, in addition to other criminal activity.
THE DEADLY CLOSED CIRCLE
The importance of the wide-sweeping judicial corruption case and the LA County Supervisors’ violation of the Brown Act is that is is a model for decay for the rest of the country. The big picture objective seems to be the federal government trying to make states financially reliant upon federal money so that state sovereignty is weakened while federal power is increased and centralized.
Richard Fine connected the dots, with his discovery of massive judicial corruption that protects those with power and money. LA County is a closed system, a loop that circles back on itself. Our government was created as a Republic that values individuals’ rights and representatives are elected by democratic process. However, this system has been circumvented in LA County and is a model for the destruction of the democratic process.
• The LA County Supervisors authorized illegal payments to the LA Superior Court judges (over $50,000 per judge this year) in order to rule on cases in favor of the county which the county’s own statistics bear out (only 3 cases have been won against the county since 2005 when a judge decided the case).
• The LA Superior Court judges in turn support the LA County Supervisors.
• The California State Legislators and Arnold Schwarzenegger protected the LA Superior Court judges, LA Supervisors and all other government officials who facilitated the illegal payments to the judges by granting them retroactive immunity for criminal prosecution in bill SBX211. This retroactive immunity from criminal prosecution includes the State Legislators and Arnold, and therefore, incriminates them!
• The LA Supervisors authorized a lawsuit, using taxpayer money, for Sheriff Leroy Baca to overturn his term limits imposed by voters in 2002. The voters’ own money was used against them! Remember that term limits curb corruption by preventing long term corrupt relationships.(6)
• The LA Supervisors authorized a lawsuit, using taxpayer money, for District Attorney Steve Cooley to overturn his term limits imposed by voters in 2002. Cooley also received a $55,000+ raise from the LA Supervisors. It would seem naive to believe Cooley is not beholden to the LA Supervisors.
• The LA Supervisors authorized a lawsuit, using taxpayer money, for LA County Assessor Rick Auerbach to overturn his term limits imposed by voters in 2002.
In other words, the LA Supervisors authorized the use of tax payer money to extend the term limits for the Sheriff, the DA and the Assessor. The LA Superior Court judges allowed the nullification of the term limits. And the tax payers ponied up the money to underwrite a system that is corrupt and works in opposition to public interest and voters’ wishes. By the way, should there be any contest or disputes regarding the voting process, it would fall within the jurisdiction of the corrupt LA Superior Court.
Professor Daniel Gottlieb has estimated that there are over TEN MILLION felony cases of corruption by the LA Superior Court judges and the LA County Supervisors for bribery, misappropriation of funds and obstruction of justice.(7)
Has Richard Fine has been locked up, and key thrown away, for exposing this information?
Judicial Watch’s victory in the case Sturgeon vs. LA County determined that the payments to the judges are illegal.
Would it be more appropriate for the LA Superior Court judges, the LA County Supervisors and the other government officials (including the California State Legislators and Schwarzenegger) who received retroactive immunity from criminal prosecution to be wearing orange jumpsuits?
What will it take to end the closed loop of apparent injustice? The door is open now for anyone who has lost a case against LA County to request a re-trial to be heard in a jurisdiction where no judges have accepted illegal payments, because the LA County Superior Court judges could be considered compromised. Requests for re-trial for people who have lost cases against LA County, when a LA Superior Court judge decided the case, could include any type of case against LA County, including land use cases, Child Protective Services cases, criminal cases, wrongful termination cases and election contest cases- virtually any case against the county that was lost.