Migrant Crisis: SÖDERTÖRN, Sweden: 18 Years For Honour Killing

12/02/2016 SÖDERTÖRN, Sweden – 18 years for honour killing

Zirdest Edil, 53, beat his wife for wearing a sleeveless dress then later murdered her, mutilating and stabbing her with a knife in what has been called an “honour killing” by the prosecutor.

The court heard the wife had wanted a divorce from her abusive husband. The sleeveless dress was found cut up at the scene of the murder, and an academic testified the mutilation of the body bore hallmarks of having been a ritualised honour killing. Mr. Edil will serve 18 years, reports Aftonbladet.

Source

It Will Cost Taxpayers $5 Billion To Help Obama Create An ISIS Strategy

Baghdadi Mossad Trained
Source

It Will Cost Taxpayers $5 Billion To Help Obama Create An ISIS Strategy (ZeroHedge, Sep 8, 2014):

We can hear the narrative now… how can Congress turn down President Obama’s demands for $5 billion to pay for a ‘counter-terrorism’ fund that could be used to support operations against Islamic State targets in Iraq and Syria… if they do, are they not supporting terrorism? As The Hill reports, White House press secretary Josh Earnest floated the $5 billion counterterrorism fund as something that “would strengthen the hand of this president and future presidents for dealing with urgent situations like this.” We await Wednesday night’s unveiling of the long-awaited strategy…

As The Hill reports,

White House press secretary Josh Earnest floated the $5 billion counterterrorism fund as something that “would strengthen the hand of this president and future presidents for dealing with urgent situations like this.”

Read moreIt Will Cost Taxpayers $5 Billion To Help Obama Create An ISIS Strategy

Flashback: The Wile E Coyote Government

Why does the American government consistently fail to foresee the future results of its own actions?

Because it is incompetent.


My take on that is, that it is impossible to be that much incompetent! This is an ‘intentionally incompetent’ elite puppet government that is looting the taxpayer until there is nothing left.

The government is ‘channeling’ taxpayer money through their friends on Wall Street into the hands of the elite behind the scenes (that control the US government, the Federal Reserve, Wall Street and the media), thereby bankrupting America and destroying the US dollar.

This is a controlled demolition.


It is managing the financial crisis Wile E Coyote style.


Added: 25. September 2008

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

US bank chargeoff rate exceeds Great Depression: Moody’s

And this is the Greatest Depression.


moodys-logo

NEW YORK (Reuters) – The rate of loan charge-offs by major U.S. banks has exceeded those seen in the early years of the Great Depression as the credit crisis continues to take a toll, Moody’s Investors Service said on Monday.

Bank charge-offs — loans written off as uncollectable — have reached $116 billion year to date, or 2.9 percent of outstanding loans on an annualized basis, Moody’s said in a report. By comparison, bank charge-offs were about 2.25 percent in 1932, the third year of the Great Depression, Moody’s said.

Charge-offs climbed to $45 billion in the third quarter from $40 billion in the second quarter and $31 billion in the first, Moody’s said.

On an annualized basis, charge-offs were about 3.4 percent of outstanding loans in the third quarter, matching the Great Depression peak in 1934, Moody’s said.

Read moreUS bank chargeoff rate exceeds Great Depression: Moody’s

US: The Speculative Bubble in Equities and the Case for Deflation, Stagflation and Implosion

“If the Fed continues to apply monetary stimulus and subsidy into this system, without a significant reform, the dollar will eventually “break” and the real economy will temporarily collapse. This will result in the mother of all stagflation.”

In my opinion the US dollar will collapse, the real economy will collapse, the stock market will collapse, but not only temporarily, unless you see time from the perspective of an oak tree.

Stagflation would be great. It rather looks like a hyperinflationary depression to me.

Let’s see.

German miracle in the US?!:

“The traditional solution has been a military conflict, which stifles dissent against the government while generating artificial demand sufficient to energize the productive economy. It is a means of exporting your social misery, official corruption, and fiscal irresponsibility to another, weaker people.”

“One only has to look at the “German miracle” of the 1930’s to see this progression from artificial stimulus, to domestic seizure of assets, to scapegoating and aggressive wars of acquisition, as described above. But this progress out of economic depression had made Hitler and Mussolini the darlings of Wall Street and the international financiers. Indeed, Time Magazine had even named Hitler their “Man of the Year” for this economic miracle, even though it was a fraudulent house of cards.”

Maybe that is what Obama’s  ‘change’ is all about.

We are living in interesting times. That’s for sure.


As part of their program of ‘quantitative easing’ which is another name for currency devaluation through extraordinary expansion of the monetary base, the Fed has very obviously created an inflationary bubble in the US equity market.

(Click on images to enlarge them)

monetarybase

Why has this happened? Because with a monetary expansion intended to help cure an credit bubble crisis that is not accompanied by significant financial market reform, systemic rebalancing, and government programs to cure and correct past abuses of the productive economy through financial engineering, the hot money given by the Fed and Treasury to the banking system will NOT flow into the real economy, but instead will seek high beta returns in financial assets.

price-earnings-ratio

Why lend to the real economy when one can achieve guaranteed returns from the Fed, and much greater returns in the speculative markets if one has the right ‘connections?’

bankcredit

The monetary stimulus of the Fed and the Treasury to help the economy is similar to relief aid sent to a suffering Third World country. It is intercepted and seized by a despotic regime and allocated to its local warlords, with very little going to help the people.

price-earnings-ratio-2

By far this presents the most compelling case for a deflationary episode. As the money that is created flows into financial assets, it is ‘taxed’ by Wall Street which takes a disproportionately large share in the form of fees and bonuses, and what are likely to be extra-legal trading profits.

If the monetary stimulus is subsequently dissipated as the asset bubble collapses, except that which remains in the hands of the few, it leaves the real economy in a relatively poorer condition to produce real savings and wealth than it had been before. This is because the outsized financial sector continues to sap the vitality from the productive economy, to drag it down, to drain it of needed attention and policy focus.

At the heart of it, quantitative easing that is not part of an overall program to reform, regulate, and renew the system to change and correct the elements that caused the crisis in the first place, is nothing more than a Ponzi scheme. The optimal time to reform the system was with the collapse of LTCM, and prior to the final repeal of Glass-Steagall, and the raging FIRE sector creating serial bubbles.

These injections of monetary stimulus to maintain a false equilibrium is in reality creating an increasingly unsustainable and unstable monetary disequilibrium within the productive economy. As the real economy contracts, the amount of money supply that the economy can sustain without triggering a monetary inflation decreases, and in a nonlinear manner. This is because the money multiplier does not ‘work’ the same in reverse, owing to the ability of private individuals and corporations to default on debt.

Ironically, with each iteration of this stimulus and seizure of wealth, the dollar becomes progressively weaker because there is a smaller productive economy to support it, even if there are less dollars, despite the nominal gains in GDP which are an accounting illusion. This has been further enabled by the dollar’s status as reserve currency backed by nothing since 1971, which has created an enormous overhang of dollars in the hands of other nations.

Read moreUS: The Speculative Bubble in Equities and the Case for Deflation, Stagflation and Implosion

US Economy: This is No Recession. It’s a Planned Demolition

Must-read.

See also RBS chief credit strategist issues red alert on global stock markets


ben-bernanke
Bernanke has pulled out all the stops.

Credit is not flowing. In fact, credit is contracting. That means things aren’t getting better; they’re getting worse. When credit contracts in a consumer-driven economy, bad things happen. Business investment drops, unemployment soars, earnings plunge, and GDP shrinks. The Fed has spent more than a trillion dollars trying to get consumers to start borrowing again, but without success. The country’s credit engines are grinding to a halt.

Bernanke has increased excess reserves in the banking system by $800 billion, but lending is still slow. The banks are hoarding capital in order to deal with the losses from toxic assets, non performing loans, and a $3.5 trillion commercial real estate bubble that’s following housing into the toilet. That’s why the rate of bank failures is accelerating. 2010 will be even worse; the list is growing. It’s a bloodbath.

The standards for conventional loans have gotten tougher while the pool of qualified credit-worthy borrowers has shrunk. That means less credit flowing into the system. The shadow banking system has been hobbled by the freeze in securitization and only provides a trifling portion of the credit needed to grow the economy. Bernanke’s initiatives haven’t made a bit of difference. Credit continues to shrivel.

The S&P 500 is up 50 percent from its March lows. The financials, retail, materials and industrials are leading the pack. It’s a “Green Shoots” Bear market rally fueled by the Fed’s Quantitative Easing (QE) which is forcing liquidity into the financial system and lifting equities. The same thing happened during the Great Depression. Stocks surged after 1929. Then the prevailing trend took hold and dragged the Dow down 89 percent from its earlier highs. The S&P’s March lows will be tested before the recession is over. Systemwide deleveraging is ongoing. That won’t change.

No one is fooled by the fireworks on Wall Street. Consumer confidence continues to plummet. Everyone knows things are bad. Everyone knows the media is lying. Credit is contracting; the economy’s life’s blood has slowed to a trickle. The economy is headed for a hard landing.

Bernanke has pulled out all the stops. He’s lowered interest rates to zero, backstopped the entire financial system with $13 trillion, propped up insolvent financial institutions and monetized $1 trillion in mortgage-backed securities and US sovereign debt. Nothing has worked. Wages are falling, banks are cutting lines of credit, retirement savings have been slashed in half, and home equity losses continue to mount. Living standards can no longer be bandaged together with VISA or Diners Club cards. Household spending has to fit within one’s salary. That’s why retail, travel, home improvement, luxury items and hotels are all down double-digits. The easy money has dried up.

According to Bloomberg:

“Borrowing by U.S. consumers dropped in June for the fifth straight month as the unemployment rate rose, getting loans remained difficult and households put off major purchases. Consumer credit fell $10.3 billion, or 4.92 percent at an annual rate, to $2.5 trillion, according to a Federal Reserve report released today in Washington. Credit dropped by $5.38 billion in May, more than previously estimated. The series of declines is the longest since 1991.

A jobless rate near the highest in 26 years, stagnant wages and falling home values mean consumer spending… will take time to recover even as the recession eases. Incomes fell the most in four years in June as one-time transfer payments from the Obama administration’s stimulus plan dried up, and unemployment is forecast to exceed 10 percent next year before retreating.” (Bloomberg)

What a mess. The Fed has assumed near-dictatorial powers to fight a monster of its own making, and achieved nothing. The real economy is still dead in the water. Bernanke is not getting any traction from his zero-percent interest rates. His monetization program (QE) is just scaring off foreign creditors. On Friday, Marketwatch reported:

“The Federal Reserve will probably allow its $300 billion Treasury-buying program to end over the next six weeks as signs of a housing recovery prompt the central bank to unwind one its most aggressive and unusual interventions into financial markets, big bond dealers say.”

Right. Does anyone believe the housing market is recovering? If so, please check out this chart and keep in mind that, in the first 6 months of 2009, there have already been 1.9 million foreclosures.

delinquencies-and-foreclosures

The Fed is abandoning the printing presses (presumably) because China told Geithner to stop printing money or they’d sell their US Treasuries. It’s a wake-up call to Bernanke that the power is shifting from Washington to Beijing.

That puts Bernanke in a pickle. If he stops printing; interest rates will skyrocket, stocks will crash and housing prices will tumble. But if he continues QE, China will dump their Treasuries and the greenback will vanish in a poof of smoke. Either way, the malaise in the credit markets will persist and personal consumption will continue to sputter.

Read moreUS Economy: This is No Recession. It’s a Planned Demolition

UK: Individual Insolvencies, Company Liquidations Soar to Record High

LONDON — Company liquidations and individual insolvencies in England and Wales soared to record levels in the second quarter as the economy was throttled by recession and the global credit crisis, data from the government’s Insolvency Service showed Friday.

There were 33,073 individual insolvencies in the second quarter on a nonseasonally adjusted basis, the highest level since records began in 1960. That compared with 30,253 in the first quarter of this year and marked a 27.4% increase from the second quarter of last year.

Company liquidations totaled 5,055 on a seasonally adjusted basis, the highest level since that series began in 1998. That was 2.9% above the total seen in the first three months of this year and represented an increase of 39.1% from the second quarter of last year.

Andrew MacCallum, managing director at restructuring and turnaround firm Alvarez and Marsal, said companies had survived the past year by significantly cutting costs, but many were now exhausted financially just as some positive signs (Where? All those positive signs are brought to you by ‘intentional misinterpretation’ of statistical data.) on the economy were emerging.

“More than five thousand companies may have gone into administration in the last quarter, but we can expect to see that figure exceeded in every quarter until at least the end of 2010,” he said in a note. “Credit is still tight and many businesses are loaded with debt that they can’t service.”

The breakdown of the figures showed there were 1,457 compulsory company liquidations, 6.8% less than in the first quarter but 8.7% more than in the second quarter of last year.

Read moreUK: Individual Insolvencies, Company Liquidations Soar to Record High

EU Governments Approved $5.3 Trillion For Bank Rescue Costs, More Than German GDP

bank-of-england-2
A pedestrian walks past the Bank of England in London’s financial district, in London, U.K., on Jan. 8, 2009. Photographer: Chris Ratcliffe/Bloomberg News

June 12 (Bloomberg) — European governments have approved $5.3 trillion of aid, more than the annual gross domestic product of Germany, to support banks during the credit crunch, according to a European Union document.

The U.K. pledged 781.2 billion euros ($1.1 trillion) to restore confidence in its lenders, the most of any of the 27 EU members, according to a May 26 document prepared by officials from the European Commission, the European Central Bank and member states and obtained by Bloomberg News. Denmark, where 13 of the country’s 140 banks were bailed out by the central bank or bought by rivals last year, committed 593.9 billion euros.

The measures, designed to save banks and revive economic growth, surpass Germany’s $3.3 trillion economy, the region’s biggest. They also helped to widen the Euro area’s budget deficit to the most in three years in 2008. The commission, the EU’s executive arm, is seeking to create the first EU-wide agencies with rule-making powers to monitor risk in the economy after the crisis led to $460 billion of losses and writedowns across the continent, according to data compiled by Bloomberg.

“The operating environment for banks is likely to remain challenging, in particular in respect of credit losses linked to their loan portfolios,” according to the document, produced by the EU’s Economic and Financial Committee. The draft document, partially entitled “the effectiveness of financial support measures,” will be debated at the next meeting of EU leaders on June 18-19 in Brussels.

Government Pledges

EU governments approved about 311.4 billion euros for capital injections, 2.92 trillion euros for bank liability guarantees, 33 billion euros for relief of impaired assets and 505.6 billion euros for liquidity and bank funding support, a total of 3.77 trillion euros, the document shows.

The U.S. government and the Federal Reserve had spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, as of March 31.

Read moreEU Governments Approved $5.3 Trillion For Bank Rescue Costs, More Than German GDP