I’m not sure this is a good thing or not since I’m an ol’ country boy:
The world’s mega-cities are merging to form vast “mega-regions” which may stretch hundreds of kilometres across countries and be home to more than 100 million people, according to a major new UN report.
The phenomenon of the so-called “endless city” could be one of the most significant developments – and problems – in the way people live and economies grow in the next 50 years, says UN-Habitat, the agency for human settlements, which identifies the trend of developing mega-regions in its biannual State of World Cities report.
The largest of these, says the report – launched today at the World Urban Forum in Rio de Janeiro – is the Hong Kong-Shenhzen-Guangzhou region in China, home to about 120 million people. Other mega-regions have formed in Japan and Brazil and are developing in India, west Africa and elsewhere.
The trend helped the world pass a tipping point in the last year, with more than half the world’s people now living in cities.
The UN said that urbanisation is now “unstoppable”. Anna Tibaijuka, outgoing director of UN-Habitat, said: “Just over half the world now lives in cities but by 2050, over 70% of the world will be urban dwellers. By then, only 14% of people in rich countries will live outside cities, and 33% in poor countries.”
The development of mega-regions is regarded as generally positive, said the report’s co-author Eduardo Lopez Moreno: “They [mega-regions], rather than countries, are now driving wealth.”
“Research shows that the world’s largest 40 mega-regions cover only a tiny fraction of the habitable surface of our planet and are home to fewer than 18% of the world’s population [but] account for 66% of all economic activity and about 85% of technological and scientific innovation,” said Moreno.
“The top 25 cities in the world account for more than half of the world’s wealth,” he added. “And the five largest cities in India and China now account for 50% of those countries’ wealth.”
The migration to cities, while making economic sense, is affecting the rural economy too: “Most of the wealth in rural areas already comes from people in urban areas sending money back,” Moreno said.
The growth of mega-regions and cities is also leading to unprecedented urban sprawl, new slums, unbalanced development and income inequalities as more and more people move to satellite or dormitory cities.
“Cities like Los Angeles grew 45% in numbers between 1975-1990, but tripled their surface area in the same time. This sprawl is now increasingly happening in developing countries as real estate developers promote the image of a ‘world-class lifestyle’ outside the traditional city,” say the authors.
To quote Jameske of the Daily Grail, “Judge Dredd soon to follow.”
“I am de la-aw!”
Sly Stallone will always have a job I guess.
UFO activity has long been associated with volcanic and earthquake activity, especially in Mexico, Central and South America.
Here we have photos of UFOs that were taken after the recent 8.8 R quake in Chile:
Long-time researcherLiliana Núñez Orellana(formerly with AFLA)sent us a video clip from Chilean television displaying some of the truly startling images captured before, during and after the 8.8 magnitude earthquake in that country. Interviewed for this presentation were Rodrigo Fuenzalida and Alberto Urquiza. Mr. Fuenzalida was asked to provide an analysis of the situation, and he shared an interesting theory: that UFOs, regardless of their nature or origin, vacate their underground or underwater lairs before an earthquake much in the way that our own surface ships set out to sea before a hurricane.
This might be evidence of Mac Tonnies’ cryptoterrestrial theory in that in the shear numbers of these objects that vacate geological volatile areas of the planet before, during and after these events.
Are you seeing this Mac?
Once again the possibility that HAARP is reeking havoc to earthquake-prone zones to serve some purpose.
Lately, HAARP has been accused of causing the recent Haiti disaster in order to gain access to rich undersea oil reserves there for the US (link).
Usually just before a HAARP attack, unusual lights are seen in the sky, typically over the target area.
This time, weird lights were seen in the skies over Chile before the monstrous 8.8 R quake hit:
A video has emerged of strange lights in the Chilean sky on the day before the massive 8.8 earthquake, causing speculation about whether the apparition was a HAARP projection or UFO warning related to the impending disaster. Others point to similar videos taken in China and Haiti prior to the recent earthquakes in those countries, and the possibility that shifts in the earth’s crust have a dramatic effect on the atmosphere.
Whatever the case, there is at least one eyewitness account of strange lights being present in the sky at the time that the ground opened up in Chile. Cecelia Lagos, a Chilean reporter, was interviewed by CNN and described seeing the sky change colors outside her window as her house shook. Although the CNN clip wasn’t available, here’s an MSNBC video of her telling a similar story and the transcript from the actual CNN interview, in which she compares what she saw to a seen out of the big blockbuster disaster film, 2012:
Cecelia Lagos – “Besides, I saw through my window, while I was still in bed, I saw the sky changing colors, it was absolutely surreal. I really thought it was the end of the world…I don’t know I hope you understand me because I’m not exaggerating really because I saw it through my window like that. That was the most terrifying thing seeing the sky changing colors with the terribly, amazingly,strong movement of the earth, I thought, ok…this is mother earth… the earth opened up and buildings crumbled into the earth …like in the movie 2012…”
The question here is…why?
What does Chile have the American Federal Empire might want?
Does Chile have undersea/ground oil reserves like Haiti?
Or is this purely political, a warning to Hugo Chavez to mind his “P’s-n-Q’s” and stay in his place?
It could be nothing at all, odd lights in the sky, especially over earthquake prone volcanic areas historically have had anomalous ‘sky lights’ before catastrophic events occur (link).
Curiouser and curiouser…
When people talk about ‘climate change’ now-a-days, they usually mean ‘anthropocentric’ climate change, which means climate change influenced by human activity.
I used to be in the above crowd. Why not? 250 years of Industrial Revolution actions that dumped millions of tons of hydrocarbon waste into the atmosphere surely must have an effect? And to note, ‘acid rain’, ie rain that is essentially sulfuric acid has fallen on the western side of the Appalachian Mountains here in Upstate New York during the 1970s through the early 1990s, the result of which from the smoke-stacks of coal-fired power plants in the Mid-West.
What has changed my mind?
Let me first say this disclaimer; I am not an atmospheric scientist, just a half-assed informed layman.
In that capacity, after 2 1/2 years of research I have IMHO discovered that there is a global elite who stand to gain significantly (economically) from centralized global control of ‘climate change’ policy.
Now do I think that we, as a global society, should get away from using fossil fuels to power our economies and societies?
Sure. But there are too many reasons to list here.
And the poor nations of the Earth, who get short shrift from the First World Nations anyway, know that their economies still need fossil fuel technology, just to break even and make their loan payments to the IMF.
But the recent climate conferences in the Netherlands in the EU (CO15) were not derailed by poor nations (they did walk out at one point anyway), but was jinked by the US and China (is China Third World or First World now?):
Following a meeting in Brussels to discuss how to rescue the Copenhagen climate process, EU environment ministers emphasized the need for concrete, legally binding measures to combat global warming.
The European Union went to Copenhagen with the hope of achieving a broad commitment to at least a 20-percent cut in carbon emissions below 1990 levels within 10 years, but that and other firm goals failed to emerge in the final accord.
The two-week, United Nations-led conference ended on Saturday with a non-legally binding agreement to limit global warming to a maximum of 2 degrees Celsius over pre-industrial times, but did not lay out how to achieve that.
Despite months of preparation and strenuous diplomacy, the talks boiled down to an inability of the world’s two largest emitters, the United States and China, to agree fixed targets.
“Expectations and pressure on the United States have risen after Copenhagen … to really deliver,” Swedish Environment Minister Andreas Carlgren told a news briefing on Tuesday after Sweden, as EU president until December 31, chaired pan-EU talks.
Ministers from the EU’s 27 member states will meet again in January to discuss what role the EU can play in cobbling together a stronger agreement.
The bloc went to Copenhagen with a unified position and a plan for financing emissions cuts in the developing world, with a commitment to spend around 7 billion euros ($10 billion) over the next three years to aid poorer countries.
But those aims were largely sidelined as the talks failed to produce a breakthrough. Carlgren described the summit as a “disaster” and a “great failure,” despite what he called Europe’s united efforts.
“Europe never lost its aim, never, never came to splits or different positions, but of course this was mainly about other countries really (being) unwilling, and especially the United States and China,” Carlgren said.
Britain on Monday blamed China and a handful of other countries of holding the world to ransom by blocking a legally binding treaty at Copenhagen, stepping up a blame game that has gathered momentum since the talks ended.
In a sharply worded response, Chinese Foreign Ministry spokeswoman Jiang Yu rejected accusations that China had “hijacked” the climate talks and added: “The statements from certain British politicians are plainly a political scheme.”
British Prime Minister Gordon Brown described the summit as “at best flawed and at worst chaotic” and demanded an urgent reform of the process to try to reach a legal treaty when talks are expected to resume in Germany next June.
But Danish Climate Minister Connie Hedegaard, who quit as president of the talks midway through after being criticized by African countries for favoring wealthier nations in negotiations, said there was no point in getting depressed.
“What we need to do is to secure the step that we took and turn it into a result,” she told reporters as she arrived for the Brussels meeting on Tuesday. Asked whether Copenhagen had been a failure, she replied:
“It would have been a failure if we had achieved nothing. But we achieved something — a first step.
“It was the first time we held a process where all the countries were present, including the big emitters.”
In short, there must be a way to convert the worlds’ societies economies and technologies slowly and evenly with alternate tech over the next 50 years to shift away from fossil fuels. Is there sufficient wealth in the market to begin the change, or is technology being suppressed by the global financial/energy elites so only they have the power to begin the shift, if they feel like it?
If they see money in it, they will start the change.
And the elite aren’t as united as one would think.
The theory of planetary formation is now being questioned.
A discovery of a planet that orbits its parent star in reverse of its spin is certainly an oddity; only three have been discovered to date.
Now planetary scientists are scratching their heads about how this phenomenon can occur:
Astronomers have found an extrasolar planet with an “outlandish orbit” that circles its star either backwards, or at an angle of around 90º to the orientation of the star’s rotation.Planets in our own Solar System orbit in the same plane and direction as the Sun’s own rotation. This led astronomers to propose the ‘nebula hypothesis’ – whereby planets form from a flat, swirling disk of gas around a proto-Sun.
Now two teams of astronomers – one in Japan and the other in the U.S. – have independently discovered a planet about 1,000 light-years away, which orbits its star either in reverse or at an angle of more than 86º.
Predicted but never seen
Such objects have been predicted in models of Solar System formation, whereby a companion star or gravity from another planet knocks it out of orbit. However this strange phenomenon has never been observed until now.
The exoplanet, HAT-P-7b, is 1.8 times the mass of Jupiter and orbits a star about 1.5 times the mass of the Sun. Out of the more than 400 exoplanets discovered so far, only three are known to have misaligned orbits, but none as widely divergent from their Sun’s orbital plane as this one.
Details of the discovery (made using Hawaii’s Subaru Telescope) were published in October by both astronomers led by Norio Narita, from the National Astronomical Observatory of Japan in Tokyo, and a second team led by Joshua Winn from the Massachusetts Institute of Technology in Boston, USA.
The teams calculated the distant planet’s orbit by looking at how its transit affected the spectrum of light from its rotating star. As the surface of the star spins towards us, its light is blue-shifted (the light spectrum is shifted towards the blue end of the spectrum) due to the Doppler effect (where light is squashed or stretched depending on its motion towards or away from us).
The other side of the star spinning away from us is red-shifted, so astronomers expected to see a blue- then red-shift pattern. But because of the interference of the dark body of the transiting planet, this pattern is reversed in HAT-P-7’s case.
“The extraordinary orbit of HAT-P-7b presents an extreme case for theories of planet formation and subsequent orbital evolution,” write Winn and colleagues in their paper.
It just goes to show that Humanity must spread out to the stars to visit these sites personally, instruments and probes just don’t cut it!
One of the biggest arguments in the memestream is whether global warming/freezing/climate change is man-made or natural.
The petro-chemical/hydrocarbon industry runs our planet de facto and global wars are occurring this very minute in order to secure these resources for certain nations/empires, the very same resources that are contributing to ‘anthropic’ climate change.
But what if a very suitable substitute came along that was able to use the same infrastructure as the above industry with no muss, no fuss and most inportantly, no wars?
One of the nascent industry’s biggest and most well-heeled players, Sapphire Energy, announced last week that it would be producing 1 million gallons of diesel and jet fuel a year by 2011, double its initial estimates.
The La Jolla, Calif.-based company – with big-name backers like Bill Gates and the Rockefeller family – says it will be producing more than 100 million gallons a year by 2018 and 1 billion gallons a year by 2020 – enough to meet almost 3 percent of the U.S. renewable fuel standard (RFS) of 36 billion gallons.
But there’s a hitch: Federal law makes no room for algae-based fuel in the RFS. The 2007 energy law caps corn ethanol production at 15 billion gallons a year by 2015 and has the remaining 21 billion gallons of renewable fuels coming from advanced biofuels, including 17 billion gallons from cellulosic biofuels and biodiesel.
“There needs to be policy work done to incorporate these new concepts like algae, which is an organism that actually consumes large amounts of carbon in the process of creating a liquid transportation fuel,” said Tim Zenk, vice president of corporate affairs at Sapphire.
Sapphire is working to get lipids(oils) from various strains of algae, which would then be fed directly into the current refining cycle, as any other crude product. Source
Algae-based fuel producers use sunlight, water and carbon dioxide to convert carbon dioxide into sugar, which the algae metabolize into lipids, or oil. The industry says it can do so using non-potable water and without converting more forests into farm fields – thus addressing major criticisms of corn- and soy-based biofuels.
Sapphire says its technology is unique because it produces a fuel that can be used with existing U.S. pipelines, refineries, cars, trucks and airplanes. “We are 100 percent convinced that the only way to address climate and energy security is to use the same infrastructure we already have,” Zenk said.
Zenk said his company is supported by major oil companies. Its newly appointed president, C.J. Warner, is a 10-year BP executive.
“They really like us because we’re providing them with what they do today, which is refining crude oil,” Zenk said. “It’s not ethanol, it’s not biodiesel. It has the same molecules as gas, diesel or jet fuels.”
The company’s jet fuel was tested earlier this year by two of three airlines testing the commercial use of algae-based fuels in flight. Continental Airlines reported that the Boeing 737-800 test flight on Jan. 7 was successful. That test was the first commercial airline test of algae-based biofuel.
“Continental’s primary role in the demonstration was to show that the biofuel blend would perform just like traditional jet fuel in our existing aircraft without modification of the engines or the aircraft,” said Holden Shannon, Continental’s senior vice president for global research and security, during a congressional hearing last month. “This is important because … the current engine and airframe technology is unlikely to change materially for many years, so it is crucial that alternative fuel be safe for use with the current aircraft technology.”
Zenk said the test flight showed that algae fuel gets better mileage than petroleum-based jet fuel. “We noticed a 4 percent increase in energy density in the fuels because of the lower-burning temperatures in the engine itself, which resulted in greater fuel mileage,” he said.
But more work needs to be done. Both Zenk and Shannon noted the long certification process to approve jet fuels for commercial aviation. Still, the airline industry thinks it could be using biofuels in its flights on a large scale within three to five years. And Sapphire said its “drop in” transportation fuels – jet fuel, gasoline and diesel – will be ready for commercial deployment in three years.
“Fuel from algae is not just a laboratory experiment or something to speculate on for years to come,” said Brian Goodall, Sapphire’s vice president of downstream technology, in a statement. “We’ve worked tirelessly, and the technology is ready now.”
Indeed, creating fuel from algae is not as far-fetched as it may seem. Petroleum crude oil used today to create gasoline, jet fuel, plastics and other substances was once pond scum – albeit 500 million years ago.
At that time, the Earth’s atmosphere contained 18 times more carbon dioxide than it does today, which resulted in a giant algal bloom. The algae grew over a period of 100 million years and then died. After time, temperature and pressure worked their magic, and that algae became the crude oil extracted today from the Rocky Mountain West and other reservoirs around the world.
“Once we figured this all out and applied modern biology to it – genetics, genetic engineering, molecular biology – it allowed us to think creatively about how to speed up the evolution of that product, that commodity that we value today, by about 500 million years,” Zenk said.
Many things come into play; the military-industrial-congressional-complex/military keynesism for example.
Will the American Federal Empire give up a main portion of their economic engine (war) in order to switch to a ‘renewable’ fuel source in the midst of a ‘great recession’ ?
NWO Population Control Propaganda / Commercial Space Venture Uses Old Soviet Tech with Conflict of Interest?
The human-haters among us will surely rejoice in this article:
Leading figures from science and environmentalism have backed a call for population restraint policies to be adopted by every state worldwide as part of the battle against climate change.
The Optimum Population Trust says today (August 17, 2009) that the climate change talks which will culminate at Copenhagen in December must ensure that all countries adopt non-coercive policies to limit and stabilise population growth. Family planning programmes in poorer countries should be treated as “legitimate candidates for climate change funding”. Empowering women to control their own fertility would also have major humanitarian benefits for the poorest women and children in the world.
Successful population policies, which answered the unmet need for family planning, could mean nearly three billion fewer people in 2050, a difference equivalent to 44 per cent of current world population (6.8 billion), OPT says. “All environmental problems, and notably those arising from climate change, would be easier to solve with a smaller future population.”
Figures endorsing the statement include broadcaster and film-maker Sir David Attenborough; Professor Paul Ehrlich, author of the 1960s classic The Population Bomb; Gaia scientist James Lovelock; Jonathon Porritt, chair of the UK Sustainable Development Commission until last month and a former director of Friends of the Earth; and Professor Chris Rapley, formerly head of the British Antarctic Survey.*
Roger Martin, chair of OPT, said: “The fact that such eminent individuals, several of them OPT patrons, have personally endorsed our statement should act as a wake-up call to those involved in the Copenhagen process. At the very least it should spur negotiators to start taking population growth seriously as a major driver of climate change. There’s not much point in labouring mightily to cut our carbon emissions if hard-won improvements are then routinely drowned out by rising numbers of people.”
The woman holding the placard stating “Kill Yourself” says it all, doesn’t it?
So far, people like her fit right in the elitists’ plans to spread this vile misinformation.
But there might come a day when they are considered ‘useless eaters’ by the same criminals they once embraced!
Feh! And it’s people like them who scoff at space programs!
Hmm, not only does Bigelow Aerospace figure on launching a stripped down version of NASA’s Orion capsule in 2013, a company named Excalibur Almaz Limited plans on updated old top-secret Soviet space technology to launch capsules and a small, manned space station in 2013:
An international company announced plans to launch a commercial space venture using spacecraft designed for a once classified Russian space program. Excalibur Almaz Limited plans to offer week-long orbital space flights beginning as early as 2013 with updated 1970’s era Reusable Return Vehicles, designed for flying to the USSR’s top-secret Almaz space station. Excalibur Alamaz’s press release said they would be “taking a big leap beyond the sub-orbital flight market targeted by most other private space companies.”
Excalibur Almaz (EA) is currently updating the spacecraft to conduct crew and cargo space missions for private individuals, corporations, academic institutions and national governments.JSC MIC NPO Mashinostroyenia (NPOM) of Russia originally built the spacecraft and EA has purchased both the rockets and modules for the Almaz space station, which was never flown. The RRVs went through nine flight tests, with two RRVs flown to orbit several times.
EA Founder and CEO Art Dula said, “Through cooperation with NPOM and with the support of leading space contractors around the world and an exceptionally strong management and advisory team, EA is in a unique position to initiate a new era of private orbital space exploration.”
Cosmonaut Vladimir Titov, advisor to EA in Russia, said, “With this announcement, the dream of private orbital space exploration may become a reality in the very near future.”
Former NASA astronaut LeRoy Chiao, a current member of the Augustine Commission, is the Executive Vice President for EA. (emphasis mine)
EA is headquartered in Isle of Man, British Isles, and support contractors are located in Moscow, Tokyo, Houston and Los Angeles.
EA’s spacecraft will consist of two parts: an RRV and an expendable service module to provide crewmembers with room to comfortably operate during spaceflight. EA said they will “update the Almaz RRVs with flight-proven technologies where appropriate, while retaining tested legacy systems to ensure safety and economy of operation. A critical feature of the RRVs is their reusability, which will reduce logistical, overhead and program costs for commercial access to space.”
EA plans for its spacecraft to be compatible with a number of launch vehicles and capable of being launched from worldwide sites.
I find it interesting that a former astronaut, and current member of the Augustine Commission is Executive Vice President of this company.
Can anyone spell “c-o-n-f-l-i-c-t o-f i-n-t-e-r-e-s-t ?”
Some technologies are so complex and have so many frequent breakthroughs that few people can keep up. Now comes a new nine-week summer program in Silicon Valley for super-smart people. Dubbed Singularity University, its founders hope it will help close the gap in understanding and applying fast-developing technologies to solve what they called “humanity’s grandest challenges.”The goal of the Singularity school, which will be located at an Ames facility in Sunnyvale, Calif., is to bring together the world’s top graduate and postgraduate students in 10 diverse disciplines, such as biotechnology, nanotechnology, medicine and law. They will spend nine weeks together learning about each others’ disciplines and then focus on …… finding ways to overcome pressing challenges such as poverty, hunger and pandemics. Technology heavyweights, including Internet pioneer Vint Cerf, are slated to give the lectures.Applications should be available at Singularity University’s website, which is supposed to go live tonight.
Peter Diamandis, the Santa Monica physician credited with fueling private space rocketry; S. Pete Worden, director of NASA’s Ames Research Center; and futurist Ray Kurzweil are behind the move to form the school. Internet giant Google is a sponsor.
I had started a humongous post about the GooglePlex and its link to the Singularity and above individuals noted, but I ran away with myself writing it and it ended up not making any sense.
But I will provide link(s) to a person who has studied the subject extensively, in fact, he’s going to release DVDs concerning it within weeks;
I used to think the Singularity could be a good thing, but I found it’s just another Apocalyptic Religion.
The bad thing here is, this Apocalypse has a good chance of happening!
Every baby born a decade from now will have its genetic code mapped at birth, the head of the world’s leading genome sequencing company has predicted.A complete DNA read-out for every newborn will be technically feasible and affordable in less than five years, promising a revolution in healthcare, says Jay Flatley, the chief executive of Illumina.Only social and legal issues are likely to delay the era of “genome sequences”, or genetic profiles, for all. By 2019 it will have become routine to map infants’ genes when they are born, Dr Flatley told The Times.This will open a new approach to medicine, by which conditions such as diabetes and heart disease can be predicted and prevented and drugs prescribed more safely and effectively.The development, however, will raise difficult questions about privacy and access to individuals’ genetic records. Many people may be reluctant to have their genome read, for fear that the results could be used against them by an employer or insurance company.
The prospect of genome screening for all has emerged because of the plummeting cost of the relevant technology.
The Human Genome Project, which published its first rough sequence of mankind’s genetic code in 2001, cost an estimated $4billion (£2.7billion). By the time the scientists James Watson and Craig Venter had their genomes mapped two years ago, the cost had fallen to about $1m (£700,000).
Hmmm…2019…the same year the Singularity University plan to have their worldwide AI working.
Notice the name of the company too! (Oh no, there’s no such thing as the Illuminati, is there?)
These guys are fooling themselves into believing that an artificially intelligent GooglePlex will let itself be controlled by genetically perfect “elites”. By its very nature the Singularity is unpredictable and beyond any human comprehension.
I asked IIB about this one time and he said the elites might not even care if they get wiped out along with the rest of us, if the GooglePlex decides to do just that. His impression is that as long as this “child” of humanity survives mankind’s death, so much the better for Mother Gaia.
I know a few people who would go along with that, but I’m not one of them!
Hat tip to Red Ice Creations today!
How is everyone doing this week? Still have a bank account? Company retirement? 401K? Stocks? Piles of worthless paper?
To be honest, I haven’t had the balls to check my 401K at work, I think the shock would give me a stroke!
Not that it would matter, with my luck a stroke wouldn’t kill me outright, just paralyze me. And with the US Government printing presses running 24/7 to make enough Monopoly money in order to “bail out” banks and financial institutions, the idea that Social Security will be funded when the Japanese and Chinese start calling in their markers is just ludicrous.
So begging for alms looks like a real possibility for poor, disabled folk in the near future.
Great, isn’t it?
Very real possibility. But, if we keep printing funny money non-stop to keep Wall Street consolidating into ever larger and larger monstrosities, the world might not allow us to drop forever into the blackhole sewer, because we would either start WWIII, or drag the rest of the planet down the economic crapper with us according to Benjamin Fulford in this article.
And because the theory of “decoupling” ( disentanglement from various economies ) is proving to be so much bullshit as the UK and China start to experience the “pain” of the US with its over-inflated values of property and bogus fiat paper floating all over the planet:
Even in the case where the direct effect is small — the decoupling assumption — the U.S. slowdown still can have a substantial net impact on European exports because of its indirect effect on Asian imports from Europe.
So Europeans should not be tempted to think that they are somehow “decoupled” from America’s foibles and woes. Until recently, many Europeans thought they were insulated from the current U.S. housing and mortgage crisis. But in what has been a truly malignant “export” from America to Europe, the U.S. created “garbage debt” in the form of sub-prime mortgages, and Europeans — hungry for extra yield, and as reckless as Americans — bought it. Many European banks’ balance sheets are now as contaminated as those of American banks, and no one is sure who is holding — or hiding — the junk, and how to value it.
This is why European banks are now reluctant to lend to each other. They could be lending to an institution that is in serious financial trouble.
It is hard to imagine that higher interest rates and reduced credit availability will not lead to distress for Europe’s overall economy. Yet this is exactly the stance of the European Central Bank, which is treating the euro zone as if its financial sector was somehow decoupled from the rest of the economy — and running a different monetary policy for each sector at the same time.
By pumping in whatever liquidity the financial sector needs to alleviate the credit crunch, the ECB is effectively maintaining a deflationary bias for the financial sector, whereas it has announced an inflationary bias for the rest of the economy.
A monetary policy at war with itself cannot long endure…
( link )
Which is exactly what happened in the Eurozone these past two weeks as word of impending financial insolvency of Freddie Mac/Fannie Mae became apparent and word of Lehman Brother’s bankruptcy got around, all of Europe’s markets panicked, not just one or two. As soon as they got word the US government were either directly bailing out or loaning money to these places, the panic eased some.
And so it happened once again this week shortly after Lehman Brothers, AIG started to go belly-up. Thus, the Federal printing presses are cranking up full speed to loan Monopoly money to AIG.
So what can we take from all of this?
1.) Washington ’s Three Stooges:
Greenspan and Bernanke have not been alone in what will surely be remembered as America ’s Financial Apocalypse – the eventful period ushering in a decade-long depression, as predicted in my 2006 book by the same title. Certainly, President Bush did not create these trends. But his financial irresponsibility has accelerated their magnitude. In less than eight years, he has managed to increase the national debt by 90%. As the data shows, not only has he led the worst recovery since the post-WWII era, he has also positioned his successor with budget shortfalls for many years to come due to Part D Medicare, the Iraq War, and his tax cuts for the wealthy.
Combined with the staggering deficits for Medicare and Social Security , America ’s economy will be in the gutter for many years to come even after the banking and real estate troubles cool down. No one else is talking about these issues because they’re wrapped up in the daily drama. But save this article and others I’ve written because I’ve been mentioning the longer-term problems ever since writing my book. In a few years, more people will begin to address these issues once they are transformed into daily drama.
2.) President Bush’s attempts at a recovery:
…have been so horrendous they’ve actually led to the current recession, which will turn out to be the worst in decades. I would venture to guess he is desperately pleading with officials to come up with even more gimmicks to hide the full realities of the economy so the worst will be reported only after he leaves office. But I will guarantee you if Washington and the Fed continue this reckless game of applying band aids instead of letting things play out, we will see a much bigger crisis down the road, similar to what happened after Greenspan tried to mitigate the dotcom collapse. You can bet this is going to happen because Washington does not understand the meaning of preemption.
Altogether, we have had eight years of no gains in real median wages, flat stock market returns, and minimal net new jobs. Despite what you have heard, after adjusting for debt spending, population growth and realistic adjustments to the GDP deflator, there have only been 3 or 4 quarters of GDP growth since 2005. If you adjust for military, government and minimum wage positions – i.e. jobs funded by tax payers and jobs that don’t pay anything – there have been absolutely no net new jobs. Bush’s largest gains have been with inflation, oil and food prices, debt, trade deficits, bankruptcies, foreclosures, and healthcare costs. If an assembly of the world’s leading economic strategists were to design the most destructive economic disaster possible, they could not match the results of Bush’s tenure. Even the most loyal Bush supporters will admit he has been an absolute disaster – that is if they’re being honest. America is now more dependent on foreign nations than ever – not only for oil, but also credit and manufactured goods.
3.) America ’s “Resilient” Economy:
Many of the pundits flood the propaganda networks with repeated denials of the problems, boasting how resilient the U.S. economy is. You know who they are. I’m not quite sure what they’ve been smoking. But it appears to be some sort of hallucinogen because they seem to expect Superman to bend the economy back into shape. Ladies and Gentlemen, in case mommy never told you, there is no Santa Claus and there is no Superman. And if you think Bernanke’s printing presses have an endless supply of ink and paper, just wait until the real crisis appears. So you had better get ready because it’s coming. It is virtually inescapable. And it’s going to cause devastation around the globe. Of course I’m taking about the likely implosion of the CDS market.
Let’s take a look at America ’s “resilient economy.” Let’s see…the entire financial system is in the process of blowing up. Already there have been over $500 billion in bank losses, with over $1 trillion more to come. Over one dozen banks have failed, with hundreds on deck. A handful of large hedge funds have blown up, with hundreds more on the way. Already, over $1 trillion has been transferred from the Fed to the banking cartel. But I estimate another $1.5 trillion will be needed to maintain liquidity as banks de-leverage over the next few years. Unemployment is now over 6% and inflation is over 5%, even with Washington ’s manipulation of the data. Virtually every metric in the housing market is at multi-decade lows, except for foreclosures which are hitting new highs.
Taxpayers are now on the hook for billions of dollars of potentially worthless debt held by Fannie and Freddie. It’s now official. America ’s free market economy is really a socialist system for corporations. One could argue this to be a form of Fascism. My best estimate for losses due to the Fannie and Freddie taxpayer bailout are between $200 to $500 billion. The worst case scenario would be $800 billion. If this economy is resilient, I can’t wait to see how it magically bounces back. When Superman fails to show up, Washington might consider giving David Copperfield a call. But this would be one illusion he won’t be able to pull off. Get the popcorn ready.
So there you have it. Ain’t too pretty, is it?
I think this is going too fast for the Builderburglers to keep up with, the victim…er…patient has severed an artery instead of a vein and it’s in danger of bleeding to death.
And guess what, China wasn’t ready enough yet to take the reins of world economic super-power.
Too bad, so sad as Highwayman is wont to say.
So you say you don’t believe there’s an NWO, Bilderberger, Trilateral Commission or Council of Foreign Relations or any form of shadow government running anything? That’s your right I suppose.
But unless you’re a billionaire or work for the oil companies and the military-industrial-congressional complex, you’re resigned to a pretty shitty life for the coming decade if you didn’t prepare right.
Had enough yet?
The US federal government take-over/nationalization of the mortage giants Freddie Mac/Fannie Mae over the weekend was not a big surprise to government people and insider world financiers. The world stock markets breathed a temporary sigh of relief this morning as the markets in Asia and the EU opened; The US economy, still the largest on Earth was not going to tank and take the rest of the planet with it, not today anyway:
World stock markets soared Monday after Washington announced a bailout of mortgage giants Fannie Mae and Freddie Mac — a move that could help bolster a shaky U.S. housing market and renew global investor confidence.
By afternoon in Europe, Germany’s DAX jumped 3.45 percent to 6,338.89 and France’s CAC 40 climbed 4.83 percent to 4,399.55.
Trading on the London Stock Exchange, Europe’s oldest independent exchange, was halted in the morning because of a computer fault but Britain’s FTSE 100 had risen 3.81 percent to 5,440.20 shortly after 9:00 a.m. local time (0800 GMT), and remained at that level midmorning.
“It was a very broad rally,” said Lawrence Peterman, investment director at Eden Financial in London. “All the banks are up strongly on the back of the U.S. news at the weekend.”
Shares in HSBC Holdings Plc, Europe’s largest bank by market value, advanced 5 percent. HBOS Plc, one of Britain’s biggest mortgage lenders, rose 12.98 percent, and Barclays Plc, the country’s third largest bank, 11.90 percent.
Over in Asia, Japan’s benchmark Nikkei 225 index surged 3.4 percent to 12,624.46, while Hong Kong’s Hang Seng index advanced 4.3 percent to 20,794.27. Seoul’s Kospi rose 5.2 percent.
Ordinary folks had no idea this was going to happen, even tinfoil hat wackos like me.
Until Saturday when I was surfing the ‘Tubeways and checked out the Project Camelot site anyway.
Now Project Camelot collects all kinds of esoterica, NWO and UFO stuff all of the time and Bill Ryan and Kerry Cassidy interview various people who have inside knowledge of these subjects.
One of these people, Benjamin Fulford, is a regular there and is a person I have flamed in the past for being a possible NWO disinformation agent. Mainly because of the fantastic claims he has promised and failed to come through on.
The point I’m getting to here is that Cassidy/Ryan post that during an abbreviated phone interview with Fulford on September 4th, he refers to September 8th, 2008 as a date when something very important is going to occur:
We had a telephone interview scheduled yesterday with Benjamin Fulford which was unexpectedly canceled at the last minute. It appears he’s very concerned over the latest turns of events, and would only say that we should be aware of 8 September. We know nothing more than this, other than he stressed that things are constantly changing.
Two weeks previously he publicly stated that he had learned from his own sources that 30 September would be important, being the end of the US Fiscal Year. It was then, he had been told, when US bankruptcy could be announced, with various complex major consequences.
Could he be referring to the FMac/FMae take-over? This is vague at best, but Fulford is an economist by trade, supposed NWO fighter by choice. Could he have foreknowledge of this?
As you can see by the above excerpt, the Japanese market sky-rocketed and the dollar is propped up further by this development.
Fulford also has an article explaining why the US Government is trying to pick a fight with Russia, and it concerns the end of the US fiscal year ( September 30th ):
The US war-mongering and talk of World War 3 is nothing more than a desperate negotiation tactic aimed at staving off US bankruptcy, according to two sources affiliated with US intelligence agencies. The Bank for International Settlements has demanded that the Bush/Nazi cabal that has taken control of the US pay back trillions of dollars they stole from the rest of the world by September 30th, the sources say. The money was stolen during the Reagan presidency by George Bush senior to finance the collapse of the Soviet Union. This money must now be returned to its rightful owners, the sources say. As the deadline approaches, the cabal has threatened to impose martial law on the US and launch World War 3 unless they are given a reprieve.
Hmmm, won’t the sheeple be surprised after Monday Night Football, eh?
Gas rationing, food rationing, heating fuel rationing, round-ups of people of Middle East descent, searches, jailings, progroms.
Not to mention radiation from Russian and Chinese nukes lighting up the Northern Hemisphere like a billion Christmas trees.
And where do you think Bu$hco, Cheneyburton, Sweet Candy, the neo-cornholers, the Rockefellers and most exclusively, the Rothschilds are going to be?
Not enjoying the light-show outside, you can bet your ass on that!
But is that scenario going to play out? Are we going to dodge a very large bullet?