Economy

(CNNMoney) – Hello Chinese exports, good-bye U.S. jobs – Read More Here

(BusinessWeek) – Banks With State Debt Ignore Not-If-But-When Default (Update1)

European banking shares indicate a Greek debt default may be just a matter of time. Read More Here

(AP) – Japan PM warns of Greece-like debt crisis

Japan could face a financial mess like the one that has crippled Greece if it does not deal urgently with its swelling national debt, the new prime minister warned Friday. Read More Here

(SeekingAlpha) – Soros: Financial Crisis, ‘Act II’

Love or hate his politics, there is no doubt George Soros is one of the brightest investment minds of the past few generations.

Hence, when you have Soros on one side saying we have only begun the second stage of the financial crisis, and on the other hand you have “Unicorns and Butterflies” Bernanke telling us all is well (kumbaya!) [coming off one of the worst economic forecasting records the past half decade], you can guess which side one might be better off listening to.

“The collapse of the financial system as we know it is real, and the crisis is far from over,” Mr. Soros said at a conference in Vienna. “Indeed, we have just entered Act II of the drama.” Read More Here

(BullionMark) – Weimar Gold & Silver Prices 1919-1923

Weimar Germany hyperinflation prices of gold and silver in Marks from 1919 – 1923 by month. Charts are also presented to visually depict the speed and magnitude of the change. Remember these are months not years. Consider the human story behind the numbers. How did people survive? Read More Here

(MarketOracle) – PONZI Finance Recipe for Economic Catastrophe, Gold Not a Bubble

The “When hope turns to Fear” moment (See 2010 Outlook “When hope turns to Fear” in Tedbits archives) is unfolding as we speak, as the tides of insolvency sweep over the social welfare states and financial systems of the developed world. It is the next leg down in the global financial crisis and what will come to be known as the greatest depression ever is commencing — we are fascinated and astonished at what the main stream media is reporting and failing to report. Read More Here

(NakedCapitalism) – PR Push Against Strategic Defaulters Underway (Is There a Debtors Prison in Your Future?) Read More Here

(DailyMail) – Child benefit to be cut off at 13 as Government’s ‘poverty tsar’ plans to wean parents off handouts

Families could see their child benefit taxed or cut off once a youngster hits 13 under radical plans proposed by Frank Field, the government appointed ‘poverty tsar’. Read More Here

(KurtNimmo) – Wither Government. Chaos! Anarchy! Lost Revenue!

New York Gov. David Paterson is warning that if he is forced to shut down government next week chaos and anarchy will rule in the state.

“No one knows the full ramifications of a government shutdown,” said Paterson. “It would create unimaginable chaos around the state and the greater metropolitan areas,” reports WCBS TV.

The legislature in the Empire State has failed to pass a budget and this will result in doomsday, according to Paterson.

MSM: Drugs Tsar’s links to aristocrats group lobbying to liberate laws on mind-bending drugs

(DailyMail) – The Government’s new drugs tsar is listed as an adviser to a shadowy foundation run by an aristocrat lobbying to liberalise laws on mind-altering drugs.

Professor Les Iversen is head of the official Advisory Council on the Misuse of Drugs (ACMD), which is currently at the centre of the debate over regulating mephedrone – known as M-Cat or Meow Meow.

But the Beckley Foundation, a controversial charity campaigning against anti-drug regulations, claims he is one of its key advisers.

Czar? You Mean Commissar

There is a new silliness in the Western Anglo Media, comparing the US Emperor’s Czar program to the number of Tsars that Holy Russia had. It is a good thing that the US/UK public is ignorant not only of ancient history but also of recent history, otherwise they might start to worry.

Video: Obama to tighten internet control – Russia Today

(RT) – Worries new Cyber-Tsar will be part of surveillance society – 5-27-09

World War I, II (Part 2/4) – Robert Singer

The following Glossary, abbreviations and essay will help the reader understand how on a sunny June morning in 1914 the assassination Serbia’s Archduke Ferdinand set in motion World War I, II, the Holocaust and the Modern State of Israel.