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Archive for September 27th, 2008

The Muslim View on American Markets Meltdown. Sharia Economic rules…

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Muslim law sounds a little socialist, or at least to have a social conscience. Our system could have worked if we hadn’t gone into overdrive. And the wars of course.

So what is the next best move?

The ship IS sinking. The US at least. Soon we’ll be catering to the rich Chinese. And the US eonomy might look increasingly like the Chinese one, with state run banks and soveriegn funds like in the Gulf.

The free market deregulated is over.

Muslim View on American Markets Meltdown
By: Ali Khan on: 27.09.2008

Call it the consequences of irresponsible American invasions, call it the irrational exuberance of short sellers, call it the catastrophe of subprime lending, call it the mismanagement of leveraged products, blame it as you may, American markets are facing unprecedented meltdown and doomsayers see little promise in the federal bailout package. Ironically, the Wall Street has noticed that Shariah-compliant investments–which avoid speculative risk and debt-ridden greed–have fared much better in these troubled markets. In the past few years, Shariah-compliant investments in Western markets have grown to more than half a trillion dollars.

Islamic financing is attracting huge academic curiosity. Many experts participating in the 8th Harvard University Forum on Islamic Finance held this past April wondered if Islamic financing could have prevented the meltdown that American markets are facing primarily due to mortgage debt and mortgage-backed securities—now known as “toxic investments.” This legal commentary highlights the two fundamental principles of Islamic financing that I presented at the Forum.

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Written by morris

September 27, 2008 at 11:14 pm

Bank Borrowing in last week from Fed Already Exceeded Bailout Total – $700 billion figure means nothing –> Infowars

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We might as well start hoping for a peaceful transition (revolution), the system is sick and terminal.

Russia and China will fill the power vacuum. Europe only wants peace. And the Neocons will continue with belicose statements. Although we could guess they are rapidly losing support amongst their own supporters. Perhaps they still have the CIA, as in cross border raids into Pakistan, but maybe they have lost the military. Turkey and other countries are afraid of of the consequences of a quick US withdrawal from iraq.

And it is the War on Terror that has bankrupted the US.

Bank Borrowing From Fed Already Exceeded Bailout Total in Last Week
$700 billion figure means nothing

Steve Watson Infowars.net Friday, Sept 26, 2008

U.S. banks borrowed $188 billion per day on average in the latest week from the Federal Reserve, meaning that the Fed loaned out more money than the Treasury’s proposed bailout in just one week, still barely managing to keep the economy afloat.

Federal Reserve data showed on Thursday the total amount banks borrowed nearly quadrupled the previous record of $47.97 billion per day notched just the week before, Reuters reports.

$188 billion per day on average over the course of five days means that the total amount borrowed from the Fed in the week ending the 24th September stood at $940 billion – a figure that easily eclipses the proposed $700 billion bailout.

As we have already reported, the $700 billion number was simply pulled out of thin air by the Treasury.
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Written by morris

September 27, 2008 at 9:59 pm

Posted in economy, Middle East

Tagged with , ,

Instant Prefab prisons arriving in Utah, many pictures

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The US already has by far the highest per capita prison population in the world.

Posted 9/21/08

New Lego Building Blocks for the Big Boys!

I received the following communication today. It appears the Government has new Lego building blocks to play with. Prison cells that are designed to snap together to build a prison anywhere at any time to meet the demand.The new Lego style can be snapped together to make a hundred, a thousand, or hundred thousand cell prisons, two, three, or ten blocks high. Rather expensive to make these mobile type units don’t you think? Our government must see a need for them somewhere. Your home town when needed maybe?

Move em in, move em out when and where needed! The people need to confiscate a few of these units and stack them in DC and Wall Street. They are truly needed there and could be put to good use.

Sent FYI from,

Walter Burien
http://CAFR1.com

The communication received today 09/21/08 is as follows:


From: “Reb”
Subject: PHOTOS: Jail cells off loaded in Utah . . . gov’t officials refuse to talk . . . problem!
Date: Sun, September 21, 2008 4:45 am
To: WalterBurien@CAFR1.com

This was on the Barbara Jean show. Right down in Provo’s east bay these concrete blocks (cells) were unloaded while her show was being broadcast. Thank goodness for citizen journalists who went and captured these images. What and who they are for is the question?

“Official” sources most likely would evade giving a straight answer.
I appreciate whoever it was that took these photo’s and it sounded like someone also was capturing video at some point. I’d like to see that too.
Begin forwarded message:
From: “Ross Subject: ALERT Pictures: PRISON CELLS unloaded in PROVO, UTAH

See below.

Subject: ALERT Pictures: PRISON CELLS unloaded in PROVO, UTAH

Ed who took these pictures at the University Ave, East Bay, Provo.

Ed said one unloader said they where going to Vernal another one said don’t believe him because they have railroad tracks out to Vernal.

Date: Monday, September 8, 2008, 3:32 PM

These are pictures I just took of them unloading the units. There were a couple of people there who were flag pickups who are to follow the big trucks for delivery to what they said is Vernal. There were no big trucks there when I left at about 3:00PM.

Please acknowledge if you receive these ok.


Some of the pictures show the cells loaded on their sides and at the bottom straight up.


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Written by morris

September 27, 2008 at 6:55 pm

Guardian; Homes go for £800 as tide of foreclosures ends American dream for millions

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Homes go for £800 as tide of foreclosures ends American dream for millions

• Housing crisis hits poor and well-off states alike
• Over 300,000 properties faced seizure last month

Graphic: America foreclosed and how it has got worse

  • Friday September 26 2008

It doesn’t cost much to snap up a house these days in the down-at-heel motor city of Detroit. Agents advertise two-bedroom properties for as little as $1,500 (£800). “It’s a phenomenon that’s unreal that’s going on at the moment,” said Lolita Haley, owner of Prime Financial Plus Realty in suburban Detroit. “Foreclosed homes are constantly coming on to the market.”

In cities throughout America’s heartland, the crisis-stricken housing market is worsening by the day as struggling families abandon property because they are unable to keep up mortgage payments.

Some 6.41% of US home loans are in arrears – the highest figure since records began in 1979 – according to the Mortgage Bankers Association. More than 2 million Americans lost their homes to foreclosure last year and the figure is set to be far higher in 2008. Last month alone, repossession papers were filed on 303,879 properties.

As politicians in Congress thrashed out the details of the Bush administration’s $700bn bailout plan for the banking industry, homeowners protested outside congressional offices yesterday.

The Neighbourhood Assistance Corporation of America, which helps people to negotiate with lenders, has derided the rescue package as the “leave no banker behind” plan, and is demanding a moratorium on repossessions.

“Washington is about to reward Wall Street and predatory lenders for their greed and irresponsible lending tactics which created the mortgage crisis,” said Naca’s chief executive, Bruce Marks. “We cannot let this pass without help for the millions of homeowners at risk of foreclosures.”

The worst-hit regions in the crisis fall into two categories. There are states that were already economically deprived, such as Mississippi, Michigan and Ohio, where job losses have made it tough for people to keep up mortgage repayments. Then there are relatively well-off areas in Florida, Nevada and California where a particularly aggressive housing boom collapsed catastrophically, leaving millions of people with mortgages far higher than the value of their homes.

In several cities, foreclosure bus tours do a steady trade, taking sightseers and potential investors to gawp at bank-owned properties. A Boston estate agent, John Pace, operates a bus tour every other weekend. “It’s a tough situation. You’d rather see someone living in these houses than them vacant,” he said.

In parts of California, more than half of all home sales are of bank-owned property. East of San Francisco, the city of Stockton has the highest foreclosure rate in the US. City authorities are struggling to cope with vandalism and neglect, as hundreds of homes are abandoned every month.

There are fears that the West Nile virus could spread aggressively as mosquitoes breed in the stagnant water of swimming pools at bank-owned homes. In San Diego, pest control officers have seen a surge in calls to deal with bees and wasps which are nesting undisturbed in vacant houses.

One sign of hope, according to some, is that the monthly increase in foreclosures has slowed. Filings last month were only up 27% year-on-year, compared with rises of 60% to 65% in previous months, said RealtyTrac, which compiles a national database. But the fall is largely due to legislation in many states which has made eviction a longer process, rather than any reflection of a genuine market improvement. In worst-hit regions, courts are struggling to keep up with a backlog of foreclosure paperwork.

Those on the ground doubt that the Bush administration’s banking bailout will chime agreeably with struggling families. Drew Sygit, a property consultant at The Lending Edge in Detroit, said: “I don’t know if anyone in the Detroit area cares, or can see that this package is supposed to be in their best interests. For many people, it’s a case of, ‘Hey, I lost my house and some of the people who put us in this situation are being bailed out’,” he said.  Source

Written by morris

September 27, 2008 at 6:37 pm

New look here Theme: The Journalist

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New look at Divining the News

Trying out a new look: The Journalist, thanks to WordPress it is a couple of clicks on the mouse.

Also spent the last few days learning how to use an eee pc and tethering it to a treo 650 Phone.

So hopefully more productive in the near future.

Maurice

Written by morris

September 27, 2008 at 6:08 pm

Deesillustration: Greenspan’s banks into a whirlpool

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H/T rense

Written by morris

September 27, 2008 at 4:45 pm

Video: Fired Herald cartoonist presents banned work

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Fired Herald cartoonist presents banned work – video

Newspaper Cartoonist Fired for Political Artwork

Former New Zealand Herald Political cartoonist Malcolm Evans was awarded the Qantas Media Awards 2003 Cartoonist of the Year.

His work caused controversy and resulted in him leaving the Herald.

H/T whatreallyhappened

Written by morris

September 27, 2008 at 4:31 pm

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