BBC: ‘Bankruptcy’ fear hits GM shares (coz of the wars)

General Motors is the quintessential icon of US industry. The largest carmaker. Maybe that is irrelevant in predatory free market capitalism. Although Industrialists do enter politics. Until that time, we do not hear a whisper. Has Bill Gates or Steve Jobs whispered anything about the wars? And where did the big industrialists cast their strength? No doubt they buckled under and figured their industries would at least profit from the war. Maybe Conrad Black did not play the game, A media Mogul who went to jail for six & half years. Anyway Bush wars = declining Dollar = higher Oil Prices = end of US industry. The America I remember rioted. And that is not true right now. Thursday, 3 July 2008 09:49 UK ‘Bankruptcy’ fear hits GM shares General Motors shares have fallen to their lowest level in more than 53 years amid concerns about the carmaker’s future. Investment bank Merrill Lynch warned that GM needs to raise funds and that bankruptcy was “not impossible”. GM has suffered from falling sales as US consumers have cut back on spending and record fuel costs have seen them switch to smaller, more efficient cars. GM’s shares hit a low of $9.96, before closing down 15% at $9.98 on Wednesday. The share price touched its lowest level since September 1954, when the stock hit $9.92 during trading. GM shares have fallen 60% so far this year and Merril Lynch predicted that the shares could fall even further. “We believe there is potential downside in the stock below $7 and that bankruptcy is not impossible if the market continues to deteriorate and significant incremental capital is not raised,” said analyst John Murphy. Merrill’s had previously predicted a value of $28 for GM’s shares. Sales fall Another analyst, David Healy from Burnham Securities was less pessimistic about GM’s prospects. “My own opinion is that they’re unlikely to file [for bankruptcy],” Mr Healy said. “But the conditions in the auto industry are so tough for everybody right now, especially for GM, and that’s why people see this as plausible.” General Motors suffered a big fall in US sales in June, down 18.5% compared with the same month in 2007. The figures, however, were still better-than-expected and its sales fall was less than rival Toyota, which reported sales that were 21.4% lower. All of the major carmakers in the US have experienced a shift in consumer demand from sports utility vehicles (SUVs) and light trucks to smaller, more fuel efficient vehicles as petrol costs have spiralled. Last month, GM announced the closure of a number of plants in North American and Mexico that make trucks and SUVs. Rival Chrysler said it would close a minivan factory and Ford announced a significant cut in production.

news.bbc.co.uk/2/hi/business/7486972.stm

Bloomberg: Euro May Be Poised for `Explosive Breakout,’ Citigroup Says

The most popular post on this blog has been about an impending economic crash. It must be in our collective subconscious. All of us yearning for the confirmation. Most experts seem to advise buying Gold (or silver). All the experts seem to say it’s going to get worse before it gets better. The manifestation of a crash will likely spell the end of the Dollar and the Fed and the whole concept of a fiat currency (at least for the dollar). Isn’t this what Ron Paul is saying? He is also saying Peace is profitable. With the coming economic hurricanes happening at the same time as elections, they could well make a very positive chance for Ron Paul. Out of everything bad, something good comes along. And Reaganomics and Bush’s wars might finally go in the dustbin. That only leaves the Israeli Lobby to discuss. What will they do, when soup kitchens appear? Maybe the Good Jews will get more vocal, and kick out the NeoCon Jewish stranglehold. That will mean no more borrowing for wars, for Armaments and for contractors and for mercenaries. Euro May Be Poised for `Explosive Breakout,’ Citigroup Says By Jamie McGee July 2 (Bloomberg) — The euro may be nearing an “explosive breakout,” reaching record levels against the U.S. dollar, according to a Citigroup Global Markets Inc. research note. The trading pattern, including a so-called double-bottom that tested lows, resembles the one before Feb. 26 that preceded the surge to $1.6019 per euro, analysts Tom Fitpatrick in New York and Shyam Devani in London wrote in the note today. “ We cannot help but feel that things might be about to get very bad again,” the analysts said, referring to the possible combination of falling bond yields and rising oil prices. The exchange rate may approach $1.69 per euro by September if previous patterns are duplicated, the report said. The dollar fell to a two-month low, trading at $1.5864 at 12:35 p.m. in New York, down 0.5 percent from $1.5793 yesterday. It earlier touched $1.5887, the weakest since April 24. The dollar reached an all-time low of $1.6019 per euro on April 22. Crude oil rose 1.2 percent to 142.67 per barrel in trading on the New York Mercantile Exchange today. It reached a record $143.67 per barrel on June 30. Two previous breakouts, from August to November and February to April, were accompanied by financial market upheaval and interest-rate spreads favoring Europe, where benchmark lending rates exceed those in the U.S. Higher European Rates “While we believe it to be misguided, the ECB will raise its rate tomorrow and one cannot help feel that the rhetoric in recent days suggests that we may be surprised by elevated hawkish language and the suggestion of more to come,” the analysts said, referring to the European Central Bank meeting. The ECB is forecast to raise its benchmark lending rate by a quarter-percentage point, to 4.25 percent, according to the median estimate of 58 economists Bloomberg surveyed. The Federal Reserve left its key rate unchanged at 2 percent on June 25. The dollar will rise to $1.50 against the euro by the fourth quarter, according to the median estimates of 44 economists in a Bloomberg survey. To contact the reporter on this story: Jamie McGee in New York at jmcgee8@bloomberg.net

http://www.bloomberg.com/apps/news?pid=20601087&sid=azgZfuwN3MVM&refer=home#

H/T whatreallyhappened

Australian career diplomat Ex EU Ambassaor: Expect a total financial meltdown

James Cumes wrote this article with a view to speculating how the next President will cope with an expected financial meltdown. In my opinion when faced with the entrenched electoral system that exists, how could anyone who is produced as a president, do anything. The economic fault lines are so deep, that only (a peaceful) revolution could help. No amount of tax returns or interest rate didgery doos will help. The authour does portray a faulty system, and takes heed with predatory capitalism and “free” markets. But he has chosen not to be on the lunatic extremes in calling for a complete overhaul, although he hints at it. Which leaves one left to waffle about Obama, Hillary and McCain. While Obama seems the nicest of the three. The problem is the system. As the dollar collapses, he’ll still be obliged to be shouting about Iran. Even though he knows better. It seems to me that a crashing dollar can be the only evidence of a meltdown. And the world might be surprised how it can survive without the US. …European banks and non-bank financial institutions have been showing similar signs of weakness and distress. Moreover, the prospect is for the global finance industry to endure waves of defaults on credit cards, car loans and corporate loans. “We believe we’re entering Phase II,” said a credit analyst of Dresdner Kleinwort. “The liquidity crisis has eased a little, but the real credit losses are accelerating. The worst is yet to come.” [...] But discussions of fundamental issues and of how to reform the financial system have been lacking. Almost invisible is the problem of how to handle what must now be seen as the almost inevitable, virtual meltdown of the system. That meltdown is now well on the way and can only intensify in the months to come. We have seen little acknowledgement that such a collapse was always inherent in the financial system that evolved since the early 1980s and even more robustly in the last decade. The rolling thunder of the gathering financial storm will be even more foreboding from August when the presidential election campaigns gather full momentum; and the lightning flashes will follow ever more closely on the thunder by the time the elections are held in early November. By the time the successful candidate moves into the White House next January, financial devastation may already have swept through the American and global economy like a tornado…. James Cumes is a former Australian ambassador to the European Union and Australian representative at the United Nations [ and a former high commisioner] more biog here.

www.atimes.com/atimes/Global_Economy/JG02Dj03.html

Authour of America’s Suicidal Statecraft: The self-destruction of super power (Paperback)

Fortis expects a complete collapse of the US financial markets within a few days to weeks

Fortis Bank predicts US Financial market meltdown within weeks… Fortis is a large bank and insurer in the Netherlands and Belgium. It took over ABN Amro last year, together with RBS and another bank. Last Thursday, its share lost 17% because Fortis attracted foreign capital.American ‘meltdown’ reason for money injection Fortis. 28th of June, 9:10 BRUSSELS/AMSTERDAM - Fortis expects a complete collapse of the US financial markets within a few days to weeks. That explains, according to Fortis, the series of interventions of last Thursday to retrieve € 8 billion. “We have been saved just in time. The situation in the US is much worse than we thought”, says Fortis chairman Maurice Lippens. Fortis expects bankruptcies amongst 6000 American banks which have a small coverage currently. But also Citigroup, General Motors, there is starting a complete meltdown in the US” This fits in the picture, with the other press releases last week, like the short advise of Goldman Sachs and some other of the same messages last week. [...] Original press release: VOTRON BLIJFT AAN NA GOLF VAN KRITIEK Amerikaanse ’meltdown’ reden geldinjectie Fortis 28 Jun 08, 09:10 door onze correspondent BRUSSEL/AMSTERDAM (DFT) - Fortis rekent binnen enkele dagen tot weken op het volledig instorten van de Amerikaanse financiële markten. Dat verklaart volgens de bankverzekeraar de serie ingrepen van donderdag om zich met €8 miljard te versterken. „We zijn op het nippertje gereed. Het gaat in de Verenigde Staten veel slechter dan gedacht”, zegt Fortis-chairman Maurice Lippens, die volhoudt dat topman Votron aanblijft. Fortis verwacht faillissementen onder 6000 Amerikaanse banken die nu weinig dekking hebben. „Maar ook Citigroup, General Motors, er begint een complete meltdown in de VS.” http://www.dft.nl/bedrijven/fortis/4…ie_Fortis.html . All the above from: https://www.kitcomm.com/showthread.php?t=19066 . Who is Fortis? : Looking at the individual score by countries, we rank amongst the top 5 of Best Private Banks in: the Netherlands (2nd), the Channel Islands (3rd) and Belgium (4th). The following from Fortune/CNN: Fortis Rank: 18 (2005 rank: 30) Employees: 54,245 Website: http://www.fortis.com $ millions Revenues 112,351.4 Profits 4,896.3 Assets 859,900.0 In size it is just behind Citigroup Industry: Banks: Commercial and Savings Rank Company 500 rank Revenues ($ millions) 1 Citigroup 14 131,045 2 Fortis 18 112,351 ——————————————————– Banks that have failed so far: General Implodes Carnation Banc Freemont General Bear Stearns Northern Rock PLC Coast Bank FDIC Failed Banks First Integrity Bank ANB Financial Hume Bank of Hume, Mo. Douglas National Bank Miami Valley Bank NetBank Metropolitan Savings Bank All from: http://bankimplode.com/ H/T www.whatreallyhappened.com

All the experts say a dollar rout is likely.

All reports speak of the US’ declining power, and the trend looks set to continue. We observe some inflation and less dinero. But a real decline is a crash. In this case a $ crash. Britain, Sweden, Argentina and many others have seen what a ‘run’ on a currency can do. It can happen very quickly, over a few days a currency can markedly devalue. The big question is: would it make the Americans withdraw their troops from around the world? The current slow decline will continue till suddenly the $ goes over the precipice. Maybe the US will create a new currency with a Govt. Owned central bank. The MegaIndustrialists cum imperialists will witness increasing defiance amongst the population. Yet they will still be plotting, sabotaging, and making spin. People become more self reliant, Grow Your Own, and living outside the system. And with extreme weather likely to continue, its all looking like a load of separate ingredients. Where everyone has different priorities. If they’ve lost control of foriegn policy, they’ve also lost control of domestic policy, (see the economy). The NeoCons couldn’t cope with an emergency, it would be Katrina all over again. There have been black Mondays and Black Fridays on World Stock Markets, and so they learned a few new restrictions, no automatic computer sell offs. But the currency markets probably have a mind of their own. And tricks are all there is, and tricks won’t fix the dollar. Stopping the wars will. This is what Ron Paul was saying this week: Neither conspiracy nor coincidence explains steep increases in the price of gas as the war drags on. No, this is simply a reality of the inflationary policies that, among other things, make this war possible. As people are continually asked to choose whether our nation�s teetering economy or the failed foreign policy of the past several decades is most important as we look forward, it is well for those of us who understand that these two issues are closely linked, to continue to explain this fact to our fellow citizens. To fix the problem requires a proper diagnosis.

Link to Ron Paul on Crimes and Punishment

Source of Ron Paul text:
http://www.house.gov/paul/tst/tst2008/tst061608.htm

Dow plummets 3%, Oil record high 138.5$.

Will it be black Monday (on Monday). Even if the Dollar is crashing and banks are failing. Life will continue, the States may begin to be like Argentina after the crash. Barter will get stronger. The rest of us will continue, albeit with some uncertainty. The press, the president and officials will say it is just a blip. But it is the beginning of the end for Free Market Capitalism, (and monopoly money) and for the Multinational that is not beholden to a country. What went wrong? Messianic instincts! The idea of shaping a legacy was so powerful, bigger than any individual’s common sense. And so at the height of power, people over extended themselves. The NeoCons could see this threat of recession as an opportunity to further their war aims, but a sudden crash could derail war intentions because it will cause social unrest in the US. Increasingly out on a limb is how authority looks, like in a bubble wrap. Like Nixon was. And in the midst of a revolution based on the internet. People all over the world sharing knowledge and attitudes. One of these Mondays there will be a crash. All the major traders will be recognised as rogue traders, without any concern for cum uppence day. The worst part is: in the end everything was contingent on Iraq. Now the western financial system is sinking at the bottom and at the top. These people are in no condition to go to war. They might know how to start a war, with multiple maps and plans. But they have no clue as to what the enemy can do, nor do they know who all of the countries that would join the enemy are. Nor could they be relied upon to make a sane judgment in a crises. Whatever supporters they think they have, they do not include the populations of any country, except perhaps Israel. The NeoCons have lost, it has manifested in the economy. How much more folly are we going to allow?

The economy in Southern Spain: personal observations

I rely on the tourist trade in Andalucia, having been here three years, there has been a noticable decline each year, but this year is 25 per cent of last years tourist dinero. So less money and less people. Restaurants are down by far, and every other tourist trade. The Spanish economy is reportedly suffering, with a big slide in housing prices, 20% and more. The tourists and the expats are mostly of the ‘expect more gloom’ mood. Spain also has rural non commercial destinations where there is little consumerism. But if relying on the commerce of tourism be ones way of life, then right now it is looking terminal. With inflation noticable (particularly with food), and vacant seats and shops on the increase, it feels like the end of capitalism. Keynesian roadworks are everywhere, and the infrastucture is amazing (compared to the UK). But a whole way of life, of living off of tourists seems to be evaporating. The west is seeing the end of Reagonomics/Thatcherism, free trade and markets are starting to be scrutinised. Where’s the trickle down part? (picture from: http://www.nerja.to/nerja_beaches.htm the picture is only true symbolically)

Asia Times: Economic mayhem

http://www.atimes.com/atimes/Global_Economy/JF04Dj03.html http://www.atimes.com/atimes/Global_Economy/JF04Dj01.html If the financial system does not change, Sharia law could start to look attractive.

Summary of last 7 days posts

The power of religion in politics The power of religion is rarely discussed openly, save for gossipy comments of the wealth of the Vatican. Or the wealth of the British throne which is head of the Church of England. Or looking at pictures of Presidents and Prime Ministers with Rabbis. Clearly there is a power there, so any insight into how they think would be useful. What follows is an excerpt of a review of just what life and death meant in the Bible times. How to restart society When business, politics, private life are all rolled into one. Then we have judge jury and prosecutor all rolled into one. When power revolves around a knowledge of people’s private lives, then that is authoritarian. If it is highly effective, then we must ask: ‘what has gone wrong?’. (see post for more) Dear Israel: Change tack! (if anyone is listening) You are blessed with being quick on your feet. When everything is changing, you can alter course in a ‘concerted’ way. Now is the time. Hush hush and damage limitation will no longer work. When the tide is changing due to an unforeseen enemy (the internet). (see post for more) Guardian: Carter hints that Bush might face war crime prosecutions After Bush leaves office there will be a clamour for prosecuting him & his colleagues for war crimes. Also the US will be in the midst of a recession and there will be a cry for justice there. Olmert: Hallucinations to keep post 67 border, Hamas, Olmert says only those hallucinating can think of keeping post 67 territories. (Haaretz later changed the word hallucinating to delusional) It seems everything is up for grabs. (see post for more) wattsupwiththat.wordpress.com weather picture of the day wattsupwiththat.wordpress.com Picture of the day 9/11 Israeli minister offers to lease Golan: Presstv “I propose leasing the Golan from the Syrians for 25 years. If they are serious about peace they have nothing to lose,” Israeli interior minister Meir Sheetrit said on Sunday” Maybe he should be put on the front line. see post for more Being watched (and framed) 24 hours a day The people with the real power keep themselves well out of sight. And until you speak nicely about them, you are watched 24 hours a day. Essentially framed to be involved in some form of criminal or perverse activity everyday. We made the rules and lost the game. Now we find ourselves in a consesus of doom. Everyone is anticipating an end to the era we are in. Those in power might fret about calls for justice, but they are still in power, every minute of every day right now. The whole shabang is creeking, weather, resourses and wars. Increasingly debates on internet forums focus on the Industrialists, on the multinationals. The speculators (read: financiers) are singled out as responsible for rising food and oil costs. Well none of the above are going to relinquish… Gold, the best guarantee against inflation. see post for picture and text DU More veterans die after they come home than in war http://www.naturalnews.com/023274.html Depleted Uranium Shells Used by U.S. Military Worse Than Nuclear Weapons Tuesday, May 20, 2008 by: David Gutierrez Since the first Gulf War, the rate of birth defects and childhood cancer in Iraq has increased by seven times. More than 35 percent (251,000) of U.S. Gulf War veterans are dead or on permanent medical disability, compared with [...] Israel couldn’t leave settlers in Golan in a peace agreement. Israel couldn’t leave settlers in Golan in a peace agreement. They would report back that living under Arab rule has its advantages. This would be anathema to the Israeli establishment. For this reason any withdrawal will be staged over years, and generous compensation will be given. Any settlers allowed to remain would be cherry picked for [...] The Liberal economy, money as religion The free west, sex for sale, drugs for sale, money is the religion. And everyone can be made to play the game, very simply, by honing in on a person’s weakness or prejudice. It is possible to drive a person crazy. After all when money is the only legal tender, anything goes. All under the illusion of being liberal. Ron Paul, Che Guevara, & more doctors as revolutionaries Maybe being a Doctor, apart from an obvious desire to help others, also gives one the self confidence to oppose the mediocre mainstream, to be a pioneer. ~Ron Paul~ Before Congress May 22, 2007 nderstanding the magnificent rewards of a free society makes us unbashful in its promotion, fully realizing that maximum wealth is created and the greatest chance for peace comes from a society respectful of individual liberty. ” [ ... ] Nationalise the oil industry, make Sovereign funds Western sovereign funds needed. Even if the oil industry were nationalised. The state could continue to invest overseas. No country refuses this, not Burma nor Iran. With a nationalised oil industry, there would be less calls for war, we wouldn’t be dependent so much on the vanity of private shareholders. The wealth would come to the Government. And the western Governments could operate their sovereign funds, just like the Sheiks do. A dissident for Israel? This is the attention We have a dissident, he is concerned about the Palestinians. He says not in his name. Where does he live? And who are his family? Where does his family work? (see post for more) Israel deports Jewish activists 2004 and 2005 Jamie Spector, 32, a social worker with the San Francisco Unified School District, has been held in detention at Ben-Gurion Airport near Tel Aviv since she landed Saturday Kate Raphael Bender was arrested Dec. 14 during a protest against Israel’s controversial security barrier at the village of Bil’in, near Ramallah in the West Bank. She has spent the last month in a detention center awaiting a hearing and preparing her appeal against deportation. (see post for more) An Israeli is an Israeli, ‘mission accomplished’ No matter what happens from now on, the Israeli character has been established. Whether the diaspora supports it or not, whether Israel loses allies or not. Israel deports a Jew Finkelstein is known as one of the most prominent academic critics of Israel’s occupation of the West Bank and Gaza. Individual’s rights eroding It seems we are in a time of vacuum and inertia. No real direction. But a good sprinkling of fear and erosion of rights. Corruption here there and everywhere We will fizzle from corruption, and then lose the values we are proud of like womens rights, and a host of other western freedoms. As we all know, the gap between rich and poor is getting bigger and bigger. Do the Jews cheat the Jews? Judaism without political and economic power must be amazing. Now we are at the zenith of Judaic power, I just wonder if Jews themselves are feeling a divide, as if they are not a part of the ruling elite. And that decisions being taken are not in their best interests.A feeling that a secretive group of people would happily dupe another Jew into a false sense of identity, by appealing to a base nationalistic instinct. There is a human craving ‘to belong’. Maybe it needs to be recognised as exactly… Food quiz: 10 questions (and answers) Food quiz: 10 questions (and answers) … Marx, end of capitalism, and on Jewishness And I have also been thinking our capitalist system seems and feels Jewish, then I discovered Marx had written an essay ‘on the Jewish question’, what follows are two extracts, the first from an Israeli website, the second extract from Wikipedia. Do the extracts relate to capitalism? At least a little they do. Israel without America Frankly it means no world war. As long as there was an alliance between the Anglo Saxons: The US, Australia, the UK. It meant war after war. The relics of the Bush administration as in Condi Rice still bemoan when peaceful agreements are reached, like the one in Lebanon now. Unfortunately, the Israelis think only the right can make peace, So all eyes are on a successor to Olmert, and people will think the Likud types are the answer.They say Begin made the peace with Egypt, well Avnery points out Egypt had… Americans help European Post World War 1 Jews NYT 1920 New York Times May 7, 1920, p. 11 Is this North Korea or the free west? Vanunu got sentenced to solitary confinement. I have read there are noticeable effects on his speech and behaviour from all the time he spent incarcerated alone. Also I think I read he is going to be able to go to Norway. Well anyway the point of this post is with modern surveillance it is not always necessary [...] Golan Heights to go back to Syria from Israel Would Israel be clever enough to take a diminished Middle East role? To be just another small nation in the Middle East. Or will it accept nothing less than an economic hegemony. Trade is the cement for peace agreements, we all know Israel would like oil flowing from Iraq. In the Camp David agreements with Egypt, Israel secured guarantees for Egyptian oil. Harrasing the politically incorrect. Being undesirable: Having undesirable politics, leads to being watched 24 hours a day, and any and all relationships broken and corrupted. The local police are always available to join in. The human is a social animal. So ultimately the victim obligingly enters into conversation with whomever is receptive. However this receptive third party is surely involved in some underhand activities, or is known for some form of perversion. It is not for nothing that dark times … (more in post)

This summary created using
http://internetducttape.com/2007/07/13/wordpress-tip-create-a-digest-post-in-3-seconds/

We made the rules and lost the game.

Remember the Thatcher revolution. That was the apparent onset of the power of the multinational. It created 2 or 3 decades of growth. The financiers at that time manipulated the value of the Pound so much, the nation state of the UK caved in. And that victory was repeated in Sweden, whole nations held to ransom by the world of finance. And these battles between nation and finance were enacted quickly within days or a week or so. Now we find ourselves in a consesus of doom. Everyone is anticipating an end to the era we are in. Those in power might fret about calls for justice, but they are still in power, every minute of every day right now. The whole shabang is creeking, weather, resourses and wars. Increasingly debates on internet forums focus on the Industrialists, on the multinationals. The speculators (read: financiers) are singled out as responsible for rising food and oil costs. Well none of the above are going to relinquish power gracefully. Over at peakoil.com people are planning for the future, when there will be no factories and no work. If it does unfold, it will happen very fast. In 2000, the Artgentina economy collapsed, and it happened virtually overnight, and literally took place in a few days. http://www.peakoil.com/fortopic35752.html It would seem that everything but everything is made from oil, our food (fertiliser) our computers and everything else. . the consequences would be unimaginable. Permanent fuel shortages would tip the world into a generations-long economic depression. Millions would lose their jobs as industry implodes. Farm tractors would be idled for lack of fuel, triggering massive famines. Energy wars would flare. And carless suburbanites would trudge to their nearest big box stores, not to buy Chinese made clothing transported cheaply across the globe, but to scavenge glass and copper wire from abandoned buildings. Source As much as I am anti war, the military at home can also be a frightening spectre, in a society in chaos, the military would be the first to be called upon to insure order. But with incompetants in power, possibly because they have been compromised by the lobbies, there is room for fear. Self sufficiency and social networks are a good way to think. Being in the States would frighten me, so many weapons, and people prepared to use them. Anyway some form of collapse of life as we know it, is approaching, whether through peak oil, over lending, greedy warmongers or whatever. Ironically one commenter on the above forums speculated that because of the impending meltdown spirituality, friendliness and happiness will increase. The problem is now before it happens. When there is decreasing amounts to go round. Buying a large amount of rice would be a good idea.

Gold, the best guarantee against inflation.

Nationalise the oil industry, make Sovereign funds

Western sovereign funds needed.
Even if the oil industry were nationalised. The state could continue to invest overseas. No country refuses this, not Burma nor Iran. With a nationalised oil industry, there would be less calls for war, we wouldn’t be dependent so much on the vanity of private shareholders (but instead a rotation of personel). The wealth would come to the Government. And the western Governments could operate their sovereign funds, just like the Sheiks do. Do we believe in democracy or not? Couldn’t a democracy’s sovereign fund compete with a Sheiks? The point is, to get the power away from some megalomaniacs.
Return to having some accountability. And all of the above applies to the armaments industry too. And isn’t Russia more or less successfully pursuing this policy?

Corruption here there and everywhere

Corruption provides a bond between people that there otherwise wouldn’t be. It is the way of today. It also prevents freedom of association. It insures a kind of lost in the mire.
Still that is what makes the world go round. We have academics, professionals and intellectuals, salaried and generally conscientious. Then there is also the rabble. What better trade for them than corruption. People devoid of loyalty or purpose, give them corruption perhaps they unwittingly further a nation’s cause.
The big bosses, the politicians today are obliged to participate in or at least acknowledge the corruption. It anyway makes them supplicant.
And it is all a filter down effect, as above so below. So yes we are ripe for a (peaceful) revolution. Where we can be governed by a right knowing and right doing, not a ‘fit the image’ formula.
The lack of freedom of association is perhaps the most evil in the corrupt way of life.
I was talking to a Pakistani yesterday, he told me Pakistan is very very corrupt. And I asked, ‘And it is not here?’
He answered here it comes back as a cheaper car, there it is very open, right in front of anyone.
Anyway the issue is, how to retrain everyone, how to create a new vision? People could be violent if their income and way of life is threatened. Would/could Ron Paul or some other visionary give us the needed guidance. We need a rabbit out of the hat, and we anyway can’t compete with India and China.
It is time for a new lifestyle.
One that embodies freedom of association.
Now wait a minute, someone said.
What about these billionaire tycoons, you think I am going to let them take everything?
The tycoons are involved in oil, armaments, finance and hitech.
Nationalising the oil and armaments industries might be a good start, insure rotation of people.
It is the oil armaments and finance that are behind the wars. And are they corrupt?
We will fizzle from corruption, and then lose the values we are proud of like womens rights, and a host of other western freedoms.
As we all know, the gap between rich and poor is getting bigger and bigger.

Money, the way it has turned out.

Money the root of all evil. That is how the saying goes. And wouldn’t I love some.
But if you should offend anyone with lots of it, you are slowly made aware of its true value. You are greeted by a smile or by hostility, according to an economic chain of command.
Your ability to make money is likewise limited and confined.
Yet as an observer it seems the money system has run out of control. Inflation and debts, missing millions etc. And those that are no longer needed are chased with accusations of embezzlement.
And what is the war on terror if not a war for money.
Praising the ruling ideology should insure more income. To question it might not be so profitable.
Money has become a religion, and it is driving a wedge between people. And its prime function is as a tool to control. People will gladly be hostile for money. Similarly money can generate a falseness in a person, a false smile.
This is a money system, and even with inflation, it will still be here. We have a few years left as the world approaches end times. Money will rule in this period. And be more and more mafia like as well.
There is an equation between money and deception.

Ron Paul #1 on New York Times Best Seller List

It is easy to forget about Ron Paul, I do not think he has been campaigning. The mainstream media never gave him coverage anyway, and he kept getting barred from debates. The rules for being in a debate would change like goal posts moving. So it is refreshing to discover he is not out of the race. He stands for a libertarian anti imperialistic platform. He would withdraw US troops from everywhere, and reinvigorate the individual and community. The US would once again be another nation instead of the policeman of the world. His policies are well thought through. And he certainly turned many heads by the amount of support he received.
Obama is the anti war symapthisers favourite. What happens if Ron Paul becomes a frontrunner? Does that mean McCain wins? I don’t trust the electoral process, which means I don’t trust the ruling oligarchy, cause it is their show. But the attraction of seeing Ron Paul back in the race, does invite a renewed interest. For me at the beginning of the campaign, he was the only candidate. And he still would be. Obama has also had to do a lot of compromising, to be where he is now. I never even mentioned ‘her’.

Press Releases > Ron Paul #1 on New York Times Best Seller List
ARLINGTON, VIRGINIA , Republican Presidential candidate Ron Paul’s newest book, “The Revolution: A Manifesto”, is number one on the New York Times Best Sellers list for May 18th, 2008. The ranking is yet another of the many successes Dr. Paul has had during his presidential candidacy spreading his message of personal freedom and constitutional government.
Upon its official release on April 30th, “The Revolution: A Manifesto” was the number one bestseller on Amazon.com and remains the number one bestseller in political books.

www.ronpaul2008.com/press-releases/316/ron-paul-1-on-new-york-times-best-seller-list

Let us borrow this economic idea from Islam

This paper transaction, at times termed as speculation, is taking place even without the physical transfer of the goods and is making a mockery of the conservative economic models. And this is contributing to the current imbroglio. Unfortunately only the moneyed class has the capacity to participate and benefit from this entire game — at the cost of the poor.
Religious scholars tell that Prophet Muhammad (peace be upon him) did not permit transactions in which physical transaction of the goods under question did not take place. And in the current situation, rarely is the physical transaction taking place.
www.arabnews.com/?page=6&section=0&article=110042&d=19&m=5&y=2008&pix=business.jpg&category=Business
Link to article seen at whatreallyhappened

Muhammad must have been an enlightened soul. To have seen the world so objectively. One wonders what would have happened to him today?
After a second’s thought the answer is obvious. He would have been our central target in the war on terror.

We are getting poor for the Iraq war

We are getting poor for the Iraq war
Inflation has arrived and is coming big time. So many trillions are owed by the banks that it would be more correct to call them zillions.
There have been major meetings in the past; like Bretton Woods for example. Where an entire financial system was redesigned. We need something of that magnitude.
There isn’t one benefit of the Iraqi war to visualize. Not that if there were one, it could be justified. But still to add insult to injury: just sky high oil prices going even higher. Yes war contractors have benefited. Well for those of us not that way inclined, life is getting harder. Less money coming in and prices going up, and the forecast is far worse.
Almost all inflation figures are already breaking records. Although there are some semantical spin games to rearrange the figures, and even those look bad. And what are our lords and chiefs doing, nothing, just more of the same.
For inflation figures, see The Mogambo Guru: www.atimes.com/atimes/Global_Economy/JE17Dj01.html

Washington targeting training camps in Iran

Washington targeting training camps in Iran
The places where insurgents and terrorists etc. get trained. It sounds like a cowardly way to further the war aims. It also sounds extremely stupid. Given the vulnerability of the US forces who are in the Gulf region. Considering the alternatives, well there really are not any, targeting more than the training camps with more missiles thus getting a guaranteed retaliation against Israel. Using weapons of mass destruction, most countries possess these, and surely they would be used in retaliation. Or waging war on Iran in a sensible manner would require an army of many many millions of trained personnel, which is totally unfeasible. So it is a lose lose story.
What can the West do? Its going under, to some degree on the financial front, it is sinking. And there will be increasing calls for justice, for punishment for those that lied.
We need a Gorbachov (just to repeat myself) someone to dismantle it all.
Nobody can save the economic might of the US. The train is in motion. If the bloodshed increases, then so will the calls for justice. Isn’t it all ironic, that bush is so close to iran right now, if he just zipped over there now, everything could be sorted. When Nixon went to China, it took the world by shock. China was the Pariah state.

The end of the economic credit carnival

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Landlords, like all other men, love to reap where they never sowed.
Karl Marx

Sell a man a fish, he eats for a day, teach a man how to fish, you ruin a wonderful business opportunity.
Karl Marx

“The oppressed are allowed once every few years to decide which particular representatives of the oppressing class are to represent and repress them.”

Karl Marx

“Religion is the impotence of the human mind to deal with occurrences it cannot understand”

Karl Marx

Citigroup beyond repair

The significance of Citigroup could not be underestimated.

Wikipedia: According to Forbes Global 2000 in March 2007, it is the largest company in the world with total assets of US $2.2 trillion, as of December 2007

Talking of Citigroup is akin to talking about western imperialism, like talking about the pentagon or Bush’s White House. And yes it is a friend of Israel…