Carbonphobia, the real environmental threat

(Aletho) – The proposed construction of a new generation of nuclear plants is just one aspect of the environmental threat posed by cap and trade or carbon taxes. In this report I will address yet another threat, biomass energy generation. Wood chips and wood pellets are exempt from European Union permit rules for carbon emissions, ostensibly because the chipped trees recently absorbed carbon from the atmosphere. The fact that the trees would have sequestered the carbon for centuries if left as living natural habitat and soil regenerative decomposing matter is conveniently overlooked.

Energy legislation in the U.S. has yet to be passed but current bills similarly promote the wholesale clearing of forests for combustion. Bloomberg describes it as energy sprawl: Read More Here

Video: NAACP Resolution Designed to Wreck Tea Party Movement by Playing Race Card

(KurtNimmo) – Before Obama was selected to be the next front man for the ruling elite, we said race would be used to shut down any opposition to government. During the NAACP convention this week, that is precisely what is happening.

Economy

(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.

Video: Bloomberg – Deny Second Amendment to People on Terror Watch List

(Infowars) – Notorious gun-grabber Mayor Michael Bloomberg has exploited the fizzle non-bombing in New York’s Times Square to call for denying the Second Amendment to over a million Americans.

Immigration News

(HuffingtonPost) – Video: Bill Clinton Sees ‘More Immigrants’ As A Way To Reduce Deficit

Former President Bill Clinton enthusiastically weighed into the blistering national debate on immigration today with a resounding assertion that America needs more immigrants — not fewer — to ensure its long-term fiscal future. Video Link Here

FLASHBACK (ABC) – Video: Ron Paul on Illegal Immigration – View Video Here

(Fox) – Video: Immigration reform legislation may make national ID cards a reality – Judge Napolitano – Video Link Here

(Truthout) – Behind The Arizona Immigration Law: GOP Game to Swipe the November Election

Phoenix – Don’t be fooled. The way the media plays the story, it was a wave of racist, anti-immigrant hysteria that moved Arizona Republicans to pass a sick little law, signed last week, requiring every person in the state to carry papers proving they are US citizens. Read More Here

(WashingtonPost) – Justice Department considers suing Arizona to block immigration law

Officials in the Obama administration are urging the extraordinary step of suing Arizona over its new immigration law, and the Justice Department is considering such an action to block the legislation from taking effect, government officials said Wednesday. Read More Here

(NBC) – Texas Rep Wants to Import AZ Immigration Law

A Republican Texas lawmaker plans to introduce a tough immigration measure similar to the new law in Arizona, a move state Democrats say would be a mistake. Read More Here

(Reuters) – Hispanics, Democrats Plan Demos Against Arizona Law in 70 Cities

U.S. Hispanics and Democratic lawmakers furious over Arizona’s harsh crackdown on illegal immigrants expect huge weekend rallies across the United States, piling pressure on President Barack Obama to overhaul immigration laws in this election year. Read More Here

Video: Savage – Is Obama Trying to Spark a Race War?

Obama urges political action on the part of blacks, Latinos, young people and women while leaving out white males. Video Link Here

(NYDaily) – Mayor Bloomberg Says America is “Committing National Suicide” Over Immigration

A fired-up Mayor Bloomberg warned the U.S. “is committing national suicide” by passing the buck on implementing comprehensive immigration reform. Read More Here

Video: Cal. Rep. Hunter – Deport Children of Illegals

Representative Duncan Hunter wants to deport the U.S.-born children of illegal immigrants but he isn’t the only one who wants to change the U.S. Constitution.

Why The Fed Owns A Mall In Oklahoma City

(NPR) – As part of the bailouts of AIG and Bear Stearns, the Federal Reserve Bank of New York spent more than $70 billion to buy toxic assets the companies owned. Last week, prompted by a lawsuit filed by Bloomberg News, the Fed finally told the world exactly what it bought.

The Fed now owns loans to Hilton hotels in Hawaii, Puerto Rico, Malaysia and Trinidad. It owns loans to the Miami airport, and the Civic Opera House in Chicago.

It also owned a loan to Crossroads Mall in Oklahoma City. Then, when the owners of the mall couldn’t make the payments, the Fed foreclosed. So now it owns the mall, which includes a Chick-fil-A and an AMC theater.

Video: Peter Schiff – Health Care Bill is bad medicine & unconstititional

(March 24, 2010) –

Video: Ron Paul – The Fed is Responsible for the Crisis

(Bloomberg) – The secretive Federal Reserve is responsible for the economic crisis and giving it more power makes no sense whatsoever, Ron Paul said in today’s Bloomberg interview.

Morgan Stanley Strategist: Head for the Hills!

FLASHBACK – February 2008 –  Bloomberg reported earlier this week that the former chief global stategist for Morgan Stanley is telling people to prepare for the worst. One more time folks, this is no conspiracy theorist. Barton Biggs, MORGAN STANLEY’S FORMER CHIEF GLOBAL STRATEGIST is telling you there is going to be an economic collapse.

Video: Student loans crushing future for young people

“Unlike other kinds of debt, student loans can be particularly hard to wriggle out of… ditching a student loan is virtually impossible, especially once a collection agency gets involved. Although lenders may trim payments, getting fees or principals waived seldom happens.”
(TheComingDepression) – Some governments believe that the future of their country lies in a well educated healthy population. With this in mind they make post secondary education free (tax payer subsidized, remember) to all who wishing further education as long as they can pass the academic standards and complete the course in the allotted time frame.

Video: Bloomberg – Maybe A Secret Banking Cabal Does Run The World After All

In another measure of how what the establishment labels “conspiracy theory” is quickly becoming mainstream, Bloomberg News carries a story today acknowledging that those derided as “crazy” for warning that the world is run by a secret banking cabal have largely been proven right in light of the AIG cover-up.

Economy

9 banks teetering after bad land bets

After betting heavily on real estate lending, about a third of Utah’s smaller community banks are teetering between collapse and survival after the worst land-value crash in memory. Read More Here

(Bloomberg) – Video: Jim Rogers Discusses Bernanke Reappointment – Fed Policy Video Link Here

(CNBC) – Ron Paul on CNBC’s Squawk Box: Debate on Bernanke and the Fed Video Link Here

(Bloomberg) – Fed E-Mail to Geithner Cites Bank Benefit From AIG

Timothy F. Geithner, who has denied that the financial condition of American International Group Inc.’s bank counterparties was a consideration in structuring the insurer’s bailout, was told by a senior colleague that the rescue was a way to remove “uncertainty” for the firms. Read More Here

(WSJ) – DynCorp’s Iraq Contracts With U.S. Are Scrutinized

The U.S. State Department is struggling with its accounting for billions of dollars spent on police-training contracts in Iraq with DynCorp International Inc. Read More Here

(Reuters) – Record number of young Americans jobless

The U.S. economic recession has taken a particularly heavy toll on young Americans, with a record one out five black men aged 20 to 24 neither working nor in school, according to research released on Tuesday. Read More Here

Pete DuPont: Coming Tax Hikes Will Cause Greater Economic Collapse Than 2008-09

Wall Street Journal op-ed, An Economic Time Bomb: Even If Congress Does Nothing, Tax Hikes Will Hit Hard a Year From Now, by Pete DuPont (Chairman of the Board, National Center for Policy Analysis): Read More Here

(TampaBay) – Pinellas County’s $40 million shortfall will mean layoffs and program cuts

Pinellas County needs to cut spending by 10 percent to solve a $40 million budget deficit for next year, County Administrator Bob LaSala announced Tuesday. Read More Here

Video: Gold May Reach $5,000 an Ounce By 2012

(Bloomberg) – Robert McEwen, chairman and chief executive officer of U.S. Gold Corp., talks with Bloomberg’s Erik Schatzker and Deirdre Bolton about the outlook for gold prices. McEwen expects gold prices to increase to $5,000 an ounce between 2012 and 2014 as rising U.S. government debt depreciates the value of the dollar.

MSM: Federal Reserve Seeks to Protect U.S. Bailout Secrets

(Bloomberg) – The Federal Reserve asked a U.S. appeals court to block a ruling that for the first time would force the central bank to reveal secret identities of financial firms that might have collapsed without the largest government bailout in U.S. history.

Video: Coming of U.S. Hyperinflation – Marc Faber on Bloomberg

December 10, 2009

The Great Marginalization: Planning for Poverty in America?

The word from New York City Mayor Michael Bloomberg at last week’s community meeting in the Bronx was disappointing, to say the least. After promising “good jobs” during a recent campaign, how could a man with so many billions, and now fresh from a re-election victory, oppose a $10-an-hour wage? Did Hizzonor spend $200 per vote – in the neighborhood of $100 million all tolled – to win re-election, only to put forward a plan for poverty for his constituents?

MSM: Gold Jumps to Record as Slumping Dollar Spurs Investment Demand

(Bloombeg) – Gold jumped to a record price as the slumping dollar boosted bullion’s appeal as an alternative asset. Silver also gained.

Video: Marc Faber on Bloomberg – Sky Will Be the Limit for Gold Prices

Part 1 of 2

The Day the Dollar Died – John Galt

The following story in italics is a potential fictional time line for the day the dollar died. I hope not to instill fear or loathing but to give everyone some perspective on a POSSIBLE outcome which does not really take much of a reach to come to any conclusion.

MSM: Obama Says Time Running Out for Iran in Negotiations

(Bloomberg) – President Barack Obama said time is running short for Iran to accept terms of a deal offered by international negotiators seeking to prevent the Islamic republic from building a nuclear weapon.

Video: Equity fund boss – Unemployment at 20%, not 10%

(Bloomberg) – Leo Hindery, managing director of InterMedia Partners LP, talks with Bloomberg’s Pimm Fox about the U.S. unemployment rate. Hindrey also discusses ways the U.S. could create jobs.

MSM: Trade Deficit in U.S. Increases by Most Since 1999

Nov. 13 (Bloomberg) — The trade deficit in the U.S. widened in September by the most in a decade, reflecting rising demand for imported oil and automobiles as the economy rebounded from the worst recession since the 1930s.

Has Baxter Released A BioWeapon In Ukraine?

Evidence appears to suggest that Baxter International may be responsible for a new deadly outbreak of viral pneumonia in Ukraine.

Video: Here Comes Stimulus 2.0

In this Bloomberg clip, commerce secretary Gary Locke says that “if there is to be another stimulus — and that’s being hotly discussed and very seriously considered within the administration as well as members of Congress – it needs to be very targeted, very specific and we need to be very mindful of the deficit as well.

MSM: Federal Reserve Policy Audit Legislation ‘Gutted,’ Paul Says

Oct. 30 (Bloomberg) — Representative Ron Paul, the Texas Republican who has called for an end to the Federal Reserve, said legislation he introduced to audit monetary policy has been “gutted” while moving toward a possible vote in the Democratic-controlled House.

MSM: Wilbur Ross Sees ‘Huge’ Commercial Real Estate Crash

Oct. 30 (Bloomberg) — Billionaire investor Wilbur L. Ross Jr., said today the U.S. is in the beginning of a “huge crash in commercial real estate.”

How Tim Geithner Bailed Out Wall Street

While this isn’t news to readers of the WAB, it is confirmation of my extensive analysis throughout the crisis last fall. Henry Blodget and Bloomberg News get it mostly right, but they still shy away from exposing the wider outright conspiracy that exists between the US Treasury and the Federal Reserve.

MSM: Marc Faber, Dollar Will Eventually Go to Value of Zero

(Bloomberg) – Marc Faber, publisher of the Gloom, Boom & Doom Report, appeared on Bloomberg today, expanding his view on the inflation/deflation, strong and weak US dollar debate. According to him, the losers will be cash and treasury bond and the winners will be foreign currency and commodities. Equities have some power to hedge inflation.

MSM: New York Fed’s Secret Choice to Pay for Swaps Hits Taxpayers

(Bloomberg) — In the months leading up to the September 2008 collapse of giant insurer American International Group Inc., Elias Habayeb and his colleagues worked nights and weekends negotiating with banks that had bought $62 billion of credit-default swaps from AIG, according to a person who has worked with Habayeb.

MSM: Back-Door Taxes Hit U.S. With Financing in the Dark

Oct. 26 (Bloomberg) — Salvatore Calvanese, the treasurer of Springfield, Massachusetts, for four years, had a ready defense for why he risked $14 million of taxpayer money on collateralized-debt obligations laden with subprime mortgages in 2007.

Webinar Transcript: The War on the Dollar

Last week, I showed you the most shocking numbers I’ve seen in my lifetime:

The Rich Have Stolen The Economy – Paul Craig Roberts

Bloomberg reports that Treasury Secretary Timothy Geithner’s closest aides earned millions of dollars a year working for Goldman Sachs, Citigroup and other Wall Street firms. Bloomberg reports that none of these aides faced Senate confirmation. Yet, they are overseeing the handout of hundreds of billions of dollars of taxpayer funds to their former employers.

MSM: Dollar May Drop 20% More on Deficit, Harvard’s Ferguson Says

(Bloomberg) — The dollar will extend its drop versus the euro over the next two to five years, falling as much as 20 percent to an all-time low under a widening U.S. budget deficit, Harvard University’s Professor Niall Ferguson said.

Treasury Officials Received Millions from Goldman Sachs

Disclosure forms, according to Bloomberg, reveal that Treasury Secretary Timothy Geithner’s closest aides received millions of dollars from Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms.

Video: Marc Faber Dollar decline and inflation

(Bloomberg) – October 13, 2009 – Marc Faber, publisher of the Gloom, Boom & Doom Report, talks with Bloomberg’s Bernard Lo about Faber’s investment strategy

Deaths of 9/11 front-liners renew talk of aid bill NY DAILY NEWS Oct.13th

The deaths of three 9/11 first responders in the past week is enough proof for Mayor Bloomberg that people are getting sick from working at Ground Zero.

MSM: Dollar Reaches Breaking Point as Banks Shift Reserves

(Bloomberg) – Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades.

Commercial Real Estate: The Shoe Dropped In California

(BusinessInsider) – More proof that the commercial real estate
crash is coming: hotel foreclosures in California have more than tripled in the first nine months of this year, according to Bloomberg.

MSM: Roubini Sees Stock Declines as Soros Warns on Economy

(Bloomberg) – New York University Professor Nouriel Roubini said stock markets may drop and billionaire George Soros warned the “bankrupt” U.S. banking system will hamper its economy, highlighting doubts about the sustainability of the global recovery.

The bear market rally will soon be over

(BobChapman) – There is only one place to be and that is in gold and silver related assets.