German government is rushing through a fresh package of measures to shore up ailing banks and prevent a second wave of the debt crisis suffocating large parts of manufacturing industry

Looting the taxpayer again!

There is no recovery.

See also:

US Treasury Report: Banks Are Cutting Back on Small Business Loans, $10 Billion Evaporates

The Federal Reserve Doesn’t Want Banks to Increase Lending, Because of Inflation

This is the Greatest Depression.


Angela Merkel alarmed by worsening credit crisis

angela-merkel
German Chancellor Angela Merkel: fears of new crisis Photo: EPA

“We are in a very critical situation,” said Chancellor Angela Merkel in her weekly radio address. “We are going to discuss with leaders of the financial institutions what can be done to head off a credit crunch.”

The move comes days after the Bundesbank revealed that German banks face a further €90bn (£82bn) of likely write-downs over the next year.

Leaders of the new coalition are to meet industrialists and bankers tomorrow to thrash out an emergency plan. The proposals include a €10bn scheme to purchase toxic securities from banks. The idea is anathema in Germany and faces stiff opposition from Mrs Merkel’s Bavarian and liberal partners.

The renewed sense urgency follows a flurry of warnings from economists and business groups over the risks of a credit contraction.

Read moreGerman government is rushing through a fresh package of measures to shore up ailing banks and prevent a second wave of the debt crisis suffocating large parts of manufacturing industry

Morgan Stanley: Britain risks sovereign debt crisis in 2010

See also: OECD warning: Britain risks ‘debt spiral’ (Telegraph)



Britain risks becoming the first country in the G10 bloc of major economies to risk capital flight and a full-blown debt crisis over coming months, according to a client note by Morgan Stanley.

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Morgan Stanley says if Westminster can’t restore fiscal credibility it could trigger debt problems.

The US investment bank said there is a danger Britain’s toxic mix of problems will come to a head as soon as next year, triggered by fears that Westminster may prove unable to restore fiscal credibility.

“Growing fears over a hung parliament would likely weigh on both the currency and gilt yields as it would represent something of a leap into the unknown, and would increase the probability that some of the rating agencies remove the UK’s AAA status,” said the report, written by the bank’s European investment team of Ronan Carr, Teun Draaisma, and Graham Secker.

“In an extreme situation a fiscal crisis could lead to some domestic capital flight, severe pound weakness and a sell-off in UK government bonds. The Bank of England may feel forced to hike rates to shore up confidence in monetary policy and stabilize the currency, threatening the fragile economic recovery,” they said.

Morgan Stanley said that such a chain of events could drive up yields on 10-year UK gilts by 150 basis points. This would raise borrowing costs to well over 5pc – the sort of level now confronting Greece, and far higher than costs for Italy, Mexico, or Brazil.

High-grade debt from companies such as BP, GSK, or Tesco might command a lower risk premium than UK sovereign debt, once an unthinkable state of affairs.

A spike in bond yields would greatly complicate the task of funding Britain’s budget deficit, expected to be the worst of the OECD group next year at 13.3pc of GDP.

Read moreMorgan Stanley: Britain risks sovereign debt crisis in 2010

President Obama will keep millions of pages of military and intelligence documents scheduled to be declassified secret

WASHINGTON (CNN) — Promising “a new era of openness in our country,” President Obama  …

“Transparency and the rule of law will be the touchstones of this presidency,” Obama said. Source: CNN

So much for transparency!


change-we-can-believe-in

WASHINGTON – President Obama will maintain a lid of secrecy on millions of pages of military and intelligence documents that were scheduled to be declassified by the end of the year, according to administration officials.

The missed deadline spells trouble for the White House’s promises to introduce an era of government openness, say advocates, who believe that releasing historical information enforces a key check on government behavior. They cite as an example the abuses by the Central Intelligence Agency during the Cold War, including domestic spying and assassinations of foreign officials, that were publicly outlined in a set of agency documents known as the “family jewels.’’

The documents in question – all more than 25 years old – were scheduled to be declassified on Dec. 31 under an order originally signed by President Bill Clinton and amended by President George W. Bush.

But now Obama finds himself in the awkward position of extending the secrecy, despite his repeated pledges of greater transparency, because his administration has been unable to prod spy agencies into conformance.

Some of the agencies have thrown up roadblocks to disclosure, engaged in turf battles over how documents should be evaluated, and have reviewed only a fraction of the material to determine whether releasing them would jeopardize national security.

Read morePresident Obama will keep millions of pages of military and intelligence documents scheduled to be declassified secret

Climategate: Googlegate?!

google-chrome

What is going on at Google? I only ask because last night when I typed “Global Warming” into Google News the top item was Christopher Booker’s superb analysis of the Climategate scandal.

It’s still the most-read article of the Telegraph’s entire online operation – 430 comments and counting – yet mysteriously when you try the same search now it doesn’t even feature. Instead, the top-featured item is a blogger pushing Al Gore’s AGW agenda. Perhaps there’s nothing sinister in this. Perhaps some Google-savvy reader can enlighten me…..

UPDATE: Richard North has some interesting thoughts on this. He too suspects some sort of skullduggery.

Read moreClimategate: Googlegate?!

Food Stamp program now expanding at a pace of about 20,000 people a day; In 239 counties at least a quarter of the population receives food stamps

I told you that the plan of the elite is to destroy the middle class, the dollar and to turn the US into a Third World country.

Food Banks: 25 Million Americans Relying on Pantries; Surge in First Timers; Up 150 Percent Jump in Demand (AP)

Government report: 15% of Americans have trouble putting food on the table – a record high (CNN Money)

New Record: Americans on Food Stamps Tops 36 million – Study: Half of US Kids Will Receive Food Stamps (Reuters)


Food Stamp Use Soars, and Stigma Fades

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A GROWING NEED FOR A PROGRAM ONCE SCORNED Greg Dawson and his wife, Sheila, of Martinsville, Ohio, help feed their family of seven with a $300 monthly food stamp benefit. Center and right, the food pantry in Lebanon, Ohio, where residents can also enroll in what is formally called the Supplemental Nutrition Assistance Program. Stephen Crowley/The New York Times

MARTINSVILLE, Ohio – With food stamp use at record highs and climbing every month, a program once scorned as a failed welfare scheme now helps feed one in eight Americans and one in four children.

It has grown so rapidly in places so diverse that it is becoming nearly as ordinary as the groceries it buys. More than 36 million people use inconspicuous plastic cards for staples like milk, bread and cheese, swiping them at counters in blighted cities and in suburbs pocked with foreclosure signs.

Virtually all have incomes near or below the federal poverty line, but their eclectic ranks testify to the range of people struggling with basic needs. They include single mothers and married couples, the newly jobless and the chronically poor, longtime recipients of welfare checks and workers whose reduced hours or slender wages leave pantries bare.

While the numbers have soared during the recession, the path was cleared in better times when the Bush administration led a campaign to erase the program’s stigma, calling food stamps “nutritional aid” instead of welfare, and made it easier to apply. That bipartisan effort capped an extraordinary reversal from the 1990s, when some conservatives tried to abolish the program, Congress enacted large cuts and bureaucratic hurdles chased many needy people away.

From the ailing resorts of the Florida Keys to Alaskan villages along the Bering Sea, the program is now expanding at a pace of about 20,000 people a day.

There are 239 counties in the United States where at least a quarter of the population receives food stamps, according to an analysis of local data collected by The New York Times.

The counties are as big as the Bronx and Philadelphia and as small as Owsley County in Kentucky, a patch of Appalachian distress where half of the 4,600 residents receive food stamps.

In more than 750 counties, the program helps feed one in three blacks. In more than 800 counties, it helps feed one in three children. In the Mississippi River cities of St. Louis, Memphis and New Orleans, half of the children or more receive food stamps. Even in Peoria, Ill. – Everytown, U.S.A. – nearly 40 percent of children receive aid.

Read moreFood Stamp program now expanding at a pace of about 20,000 people a day; In 239 counties at least a quarter of the population receives food stamps

‘People don’t trade carbon because they are good people,’ exclaims Patrick Birley, the chief executive of the ICE European Climate Exchange

The entire system is based on fraud:

Global Warming Scam Exposed:

Prof. Ian Clark: ‘Rises in C02 lag 800 years behind temperature rises. So temperature is leading CO2 by 800 years!’

So the Al-Gore link is the wrong way round and CO2 can’t be responsible for rises in temperature and global warming.

Study: CO2 levels remained constant since 1850! (University of Bristol)

It is all about the money!


European Climate Exchange chief Patrick Birley defends the carbon trading system

The coal-fired Fiddlers Ferry power station in Warrington emits vapour into the night sky
The coal-fired Fiddlers Ferry power station in Warrington emits vapour into the night sky Photo: Christopher Furlong/Getty Images

“Why should it be different as a commodity to the way people trade oil or gas?”

As the man in charge of the world’s biggest exchange for companies, banks and hedge funds to trade permits to emit carbon dioxide, Birley is fed up with the environmentalists’ charge that dirty capitalists should not profit from the global effort to tackle climate change.

Ahead of the Copenhagen summit next week, campaigners such as Friends of the Earth have argued that the entire system is so flawed it may need to be demolished in favour of a straightforward tax on polluters.

Firstly, they insist, the European system has failed in its fundamental aim to reduce emissions, meaning its only effect is to redistribute wealth among companies and traders. Secondly, the market is a magnet for derivatives that few people understand, brewing up a second sub-prime bubble. Lastly, the opportunities for fraud are vast, given the intangible nature of the product. .

These well-worn concerns are resurfacing as the whole concept of carbon trading stands at a crossroads. This totally invented $126bn (£76bn) market has the potential to flare into a $2 trillion green giant over the next decade, if US President Obama manages to push his carbon trading bill through the Senate early next year.

Read more‘People don’t trade carbon because they are good people,’ exclaims Patrick Birley, the chief executive of the ICE European Climate Exchange

Investigative Reporter Mark Pittman Responsible For Bloomberg News Lawsuit Against The Federal Reserve Dies At 52

Judge: Federal Reserve Must Release Reports on Emergency Bank Loans (Bloomberg by Mark Pittman)

Federal Reserve Refuses to Disclose Recipients of $2 Trillion (Bloomberg by Mark Pittman)


mark-pittman
An undated photo of Bloomberg News reporter Mark Pittman. Source: Family Photo via Bloomberg

Nov. 28 (Bloomberg) — Mark Pittman, the award-winning investigative reporter whose fight to open the Federal Reserve to more scrutiny led Bloomberg News to sue the central bank and win, died Nov. 25 in Yonkers, New York. He was 52.

Pittman suffered from heart-related illnesses. The precise cause of his death wasn’t known, said his friend William Karesh, vice president of the Global Health Program at the Bronx, New York-based Wildlife Conservation Society.

A former police-beat reporter who joined Bloomberg News in 1997, Pittman wrote stories in 2007 predicting the collapse of the banking system. That year, he won the Gerald Loeb Award from the UCLA Anderson School of Management, the highest accolade in financial journalism, for “Wall Street’s Faustian Bargain,” a series of articles on the breakdown of the U.S. mortgage industry.

“He was one of the great financial journalists of our time,” said Joseph Stiglitz, a professor at Columbia University in New York and the winner of the 2001 Nobel Prize for economics. “His death is shocking.”

Pittman’s fight to make the Fed more accountable resulted in an Aug. 24 victory in Manhattan Federal Court affirming the public’s right to know about the central bank’s more than $2 trillion in loans to financial firms. He drew the attention of filmmakers Andrew and Leslie Cockburn, who gave him a prominent role in their documentary about subprime mortgages, “American Casino,” which was shown at New York City’s Tribeca Film Festival in May.

‘One Reporter’

“Who sues the Fed? One reporter on the planet,” said Emma Moody, a Wall Street Journal editor who worked with Pittman at Bloomberg. “The more complex the issue, the more he wanted to dig into it. Years ago, he forced us to learn what a credit- default swap was. He dragged us kicking and screaming.”

Read moreInvestigative Reporter Mark Pittman Responsible For Bloomberg News Lawsuit Against The Federal Reserve Dies At 52

80 new cases of child abuse by Catholic priests in Ireland: Inquiry

“What You Have Done Unto The Least of These, You Have Done Unto Me”

What you have done unto these children, you have done unto me.

The Catholic church abused, raped and murdered people through all the centuries.

Why are you still giving your power and your children away to those criminals?

“Ye shall know them by their fruits.”

… or by their (hand-) signs  …


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Pope Benedict XVI remained silent over the devastating abuse report

Eighty files are to be sent to the Republic’s Director of Public Prosecutions (DPP) by a garda team investigating fresh complaints of clerical child abuse.

The complaints were made after publication in May of the Ryan report, which detailed horrific physical and sexual abuse perpetrated by members of religious orders.

The revelation comes as gardai turn their attention to investigating priests in the Dublin Archdiocese who are the subject of the Murphy report, which was published this week.

Bishops who served in the Dublin Archdiocese while children were being sexually abused were desperately resisting calls for their resignations last night.

Pope Benedict XVI remained silent over the devastating abuse report, which accused the Church of “denial, arrogance and cover-up”, with survivors saying there was no regard within the Catholic Church for child welfare.

The Pope’s representative in Ireland gave an assurance to the Irish public that Pope Benedict was committed to rooting paedophile priests from the ranks of the Irish clergy.

Read more80 new cases of child abuse by Catholic priests in Ireland: Inquiry

Climate crunch: David Bellamy on global warming fraud

November 25, 2009:

A Current Affair interviews three people about global warming and the emissions trading scheme, all of whom agree the public is being duped without the reporter or presenter suggesting these people are speaking anything other than plain sense.

It has been revealed Kevin Rudd’s Emissions Trading Scheme will send the average family’s bills soaring about $1100.

Read moreClimate crunch: David Bellamy on global warming fraud

9/11: PENTAGON AIRCRAFT HIJACK IMPOSSIBLE: FLIGHT 77 DECK DOOR CLOSED FOR ENTIRE FLIGHT

See also:

– Former governor Jesse Ventura Conspiracy Theory: 9/11

– Former governor Jesse Ventura Conspiracy Theory: 911 Pentagon Attack (Full Episode)


pentagon-9-11
This aerial photograph of the Pentagon taken on Sept. 14, 2001, shows some of the destruction caused when the hijacked American Airlines flight slammed into the building on Sept. 11. The terrorist attack caused extensive damage to the west face of the building and followed similar attacks on the twin towers of the World Trade Center in New York City.
DoD photo by Tech. Sgt. Cedric H. Rudisill. Source: Department of Defense

(PilotsFor911Truth.org) – Newly decoded data provided by an independent researcher and computer programmer from Australia exposes alarming evidence that the reported hijacking aboard American Airlines Flight 77 was impossible to have existed. A data parameter labeled “FLT DECK DOOR”, cross checks with previously decoded data obtained by Pilots For 9/11 Truth from the National Transportation Safety Board (NTSB) through the Freedom Of Information Act.

On the morning of September 11, 2001, American Airlines Flight 77 departed Dulles International Airport bound for Los Angeles at 8:20 am Eastern Time. According to reports and data, a hijacking took place between 08:50:54 and 08:54:11[1] in which the hijackers allegedly crashed the aircraft into the Pentagon at 09:37:45. Reported by CNN, according to Ted Olson, wife Barbara Olson had called him from the reported flight stating, “…all passengers and flight personnel, including the pilots, were herded to the back of the plane by armed hijackers…”[2]. However, according to Flight Data provided by the NTSB, the Flight Deck Door was never opened in flight. How were the hijackers able to gain access to the cockpit, remove the pilots, and navigate the aircraft to the Pentagon if the Flight Deck Door remained closed?[3]

Founded in August 2006, Pilots For 9/11 Truth is a growing organization of aviation professionals from around the globe. The organization has analyzed Data provided by the National Transportation Safety Board (NTSB) for the Pentagon Attack, the events in Shanksville, PA and the World Trade Center attack. The data does not support the government story. The NTSB/FBI refuse to comment. Pilots For 9/11 Truth do not offer theory or point blame at this point in time. However, there is a growing mountain of conflicting information and data in which government agencies and officials along with Mainstream Media refuse to acknowledge. Pilots For 9/11 Truth Core member list continues to grow.

http://pilotsfor911truth.org/core.html for full member list.

http://pilotsfor911truth.org/join to join.

[1] Hijacker Timeline – http://pilotsfor911truth.org/forum/index.php?showtopic=17

[2] Common Strategy Prior to 9/11/2001 – http://pilotsfor911truth.org/pentagon.html

[3] Right click and save target as here to download csv file with “FLT DECK DOOR” parameter.

Read more9/11: PENTAGON AIRCRAFT HIJACK IMPOSSIBLE: FLIGHT 77 DECK DOOR CLOSED FOR ENTIRE FLIGHT