- Funny ! See also :
Bill Maher – Hang the Bankers ! (Humor)
Dana Carvey – Brokaw, McCain & Obama Impressions! (Humor)
Wanda Sykes on Government Bailout (Humor)
Wanda Sykes on Politics & Sarah Palin (Humor)
David Letterman on Economic Stimulus Package (Humor)
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- Mexico is rapidly falling apart ! The drug wars are escalating with no respite in sight. The country is going down the tubes. Violence, kidnapping, extortion, assassination and assault are all rising and out in the open.
- The country is in the midst of a civil ‘drug’ war. Daily Mail UK reports in Thousands of Mexican soldiers pour into the country’s most violent city in crackdown on drug gangs :
Armed to the hilt, they came from land and air, determined to restore order to Mexico’s most violent city. Nearly 2,000 Mexican soldiers and armed federal police poured into the border town of Ciudad Juarez last weekend.
The city – just across from El Paso in Texas – has been ravaged by drug gangs. Just this month 250 people were killed there by hitmen fighting for lucrative smuggling routes.
The soldiers’ mandate is clear – and ambitious. ‘This is to reinforce the operation in general … to eradicate kidnappings, extortion, assaults and homicide,’ army spokesman Enrique Torres said.
The soldiers are the first contingent of as many as 5,000 troops and federal police being sent to Juarez.
President Felipe Calderon’s military operation is supported by the United States, which is concerned the violence could destabilize Mexico, a key trading partner, and spill over the border.
Mexico has deployed some 45,000 troops across the country to try to crush drug gangs, but clashes between rival cartels and security forces killed around 6,000 people last year.
- Will the US military get involved in this? My answer is Yes! This is engineered so that the merger of Canada, Mexico and United States can go ahead. The North America Union will come whether Americans like it or not.
- This conflict will escalate into all out civil war for Mexico. The Mexican government will request for help from America undoubtedly. Thereafter, the US military will go into Mexico to destroy all the drug lords and Mexico will simply be the 51st state of the Union. Many people are of the opinion that the drug trade is controlled by the CIA, to fund their black ops and illicit wars. (See http://www.ciadrugs.com/ )
- Secretary of the Department of Homeland Security, Janet Napolitano:
“The stakes are high for the safety of many, many citizens of Mexico and the stakes are high for the United States no doubt,” Secretary Napolitano told Cooper.
The stakes are high, not just because Mexico is a key American ally and trading partner, but because the drug cartels are fighting to control areas right along the U.S. border, just miles from cities like San Diego and El Paso.
Asked if the violence in Mexico is a threat to U.S. national security, Napolitano told Cooper, “It is certainly something that is of major concern. It’s our neighbor to the south. It’s a major partner in many areas. So it’s something, for example, that I, as secretary of Homeland Security, pay a lot of attention to.”
There’s a lot to pay attention to in Mexico: 60,000 Mexican military and police are fighting against the five major drug cartels which control lucrative smuggling routes into the U.S.
They’ve managed to arrest some top traffickers, but new and more ruthless leaders have filled the vacuum, battling both the government and each other. They’re terrorizing the country with very public acts of violence.
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- Tech Ticker, Aaron Task reports :
A year ago Roubini was forecasting an 18-month recession with a U-shaped recovery; now, he’s now expecting the downturn to last at least 24 months and possibly 36-months. He also sees rising risks of a Japanese-style L-shaped stagnation, i.e. a prolonged period with little or no economic growth.
“I was one of most bearish people [but] the economy has surprised the bears on the downside,” says Roubini of NYU’s Stern School and RGE Monitor. “What’s happening in the world now is scary.”
Indeed, while the U.S. economy contracted 6.2% in the fourth-quarter, Roubini’s main concern is economic activity in much of the rest of the world is in much worse shape. And while he is often critical of U.S. policymakers – including over the stimulus package, Fed policy and bank bailouts – Roubini says “the rest of the world is way behind the curve,” in terms of doing the “right things” to confront the worst economic crisis since the 1930s.
- The 21st Century Great Depression has begun. This is not a 1-2 years affair. More like a 7-10 years problem.
- Jim Rogers: Let them (AIG, Banks….etc) go bankrupt …. or US will go bankrupt! Agriculture will be great industry in the future. Gold will go higher because of monetary inflation. Governments throughout the world are printing a lot of money out of thin air.
- CNBC :
American International Groupshould be allowed to go bankrupt because keeping it and other sick financials alive on government support risks ruining the US economy, legendary investor Jim Rogers told CNBC Tuesday.
AIG [AIG 0.43 0.01 (+2.38%) ] , whose $61.66 billion fourth-quarter loss was the largest ever for a US company, received $30 billion more in government funds Monday. The insurer’s financial health hasn’t improved despite getting as much as $150 billion from the government last year.
“Suppose AIG goes bankrupt, it is better that AIG goes bankrupt and we have a horrible two or three years than that the whole US goes bankrupt,” Rogers said. “AIG has trillions of dollars of obligations, let them fail, let the courts sort it out and start over. Otherwise we’ll never start over.”
Bailing out the banks is going to increase the debt spiral and finally cause the destruction of the world’s biggest economy, Rogers said.
“I think it’s astonishing, they’re ruining the US economy, they’re ruining the US government, they’re ruining the US central bank and they’re ruining the US dollar,” he said.
“You are watching something in front of our eyes, very historically, which is basically the destruction of New York as a financial center and the destruction of America as the world’s most powerful country.”
Japan’s economic “lost decade” was caused by trying to bail out the banks, and the West risks running out of money if it doesn’t let the bad banks fail now, Rogers warned. Systemic risk is going to be the same in 10 months, 5 years of 10 years if the fundamental problem is not solved, he added.
“The idea that you have too much debt, too much borrowing and too much consumption and you’re going to solve that problem with more debt, more consumption and more borrowing? These people are nuts.”
Wall Street and the City of London are going to be “disastrous” for years, like in the 1950s and 1960s, and in 30 years, finance will “dry up and wither away” as we are entering a “long period of hard times,” he said. ……….
- The crisis hitting Eastern Europe does not seem to be letting up. Many countries are bordering on collapse, chaos, violent protests and anarchy. Things are not getting resolved any time soon.
- Ukraine has made some pretty idiotic decisions. Why they would pick a fight with Russia is beyond me. The population consists of a large portion of Russians. Historically they have more in common with Russia than the West. Pragmatism and economic survival do not seem to be critical in their decisions toward Russia. International Herald Tribune reports Ukraine teeters as its citizens blame banks and government :
KIEV : Steel and chemical factories, once the muscle of Ukraine’s economy, are dismissing thousands of workers. Cities have had days without heat or water because they cannot pay their bills, and Kiev’s subway service is being threatened. Lines are sprouting at banks, the currency is wilting and even a government default seems possible.
Ukraine, once considered a worldwide symbol of an emerging, free-market democracy that had cast off authoritarianism, is teetering. And its predicament poses a real threat for other European economies and former Soviet republics.
The sudden, violent protests that have erupted elsewhere in Eastern Europe seem imminent here now, too. Across Kiev last week, people spoke of rising anger about the crisis and resentment toward a government that they said was more preoccupied with squabbling than with rallying the country.
The sign held by Vasily Kirilyuk, an unemployed plumber camped out with other antigovernment demonstrators here in the past week, summed up the pervasive frustration: “Get rid of them all,” it said.
Kirilyuk did not hesitate to take that further. “There will be a revolt,” he said. “And people will come because they are just fed up.”
Kirilyuk, 29, was standing in the same central square where throngs in 2004 carried out the Orange Revolution, a seminal event that brought to power a pro-Western government in Ukraine. He said he was a fervent supporter then of the protesters, but now he and a few dozen others who have set up tents here are demanding that the heroes of that revolution step down.
It is not hard to understand why world leaders are increasingly worried about the discontent and the financial crisis in Ukraine, which has 46 million people and a highly strategic location. A small country like Latvia or Iceland is one thing, but a collapse in Ukraine could wreck what little investor confidence is left in Eastern Europe, whose formerly robust economies are being badly strained.
It could also cause neighboring Russia, which has close ethnic and linguistic ties to eastern and southern Ukraine, to try to inject itself into the country’s affairs. What is more, the Kremlin would be able to hold up Ukraine as an example of what happens when former Soviet republics follow a Western model of free-market democracy.
“Ukraine is a linchpin for stability in Europe,” said Olexiy Haran, a professor of comparative politics at Kiev Mohyla University. “It is a key player between the expanding European Union and Russia. To use an alarmist scenario, you could imagine a situation in Ukraine that Russia tried to exploit in order to dominate Ukraine. That would make for a very explosive situation on the border of the European Union.”
That Ukraine can cause problems for Europe was highlighted in January when Ukraine engaged in a dispute with Russia over how much it would pay Russia for natural gas, as well over gas transport to the rest of Europe. The Kremlin shut off the gas for several days, and some European countries went without heat. The Kremlin also shut off gas to Ukraine in 2006 in a pricing dispute.
While Ukraine’s economy is dependent on exports of steel and chemicals, which have plummeted, the crisis has cut deeply because people are disillusioned with the government.
President Viktor Yushchenko, a leader of the Orange Revolution, who garnered attention around the world in 2004 when his face was scarred in a poisoning episode, is so widely scorned that a recent poll found that 57 percent of people wanted him to resign.
His rivals have also lost popularity, as the public has become exasperated by years of political bickering. In February, the International Monetary Fund refused to release the next installment of a $16.4 billion rescue loan to Ukraine because the government would not adhere to an earlier agreement to pare its budget.
Around the same time, Ukraine’s finance minister resigned, saying that the job had been “hostage to politics.”
On Friday, the monetary fund projected that Ukraine’s economy would shrink by 6 percent this year, and said that it was continuing to work with the government to find a way to disburse the rest of the rescue loan.
All over Kiev have been signs that tensions are building. On the city’s outskirts, more than 200 tractor-trailer rigs were parked Thursday, their drivers threatening to block roads if the government did not help them with their debts, which they said were caused in part by the drop in the value of Ukraine’s currency, the hryvnia.
The truckers dispersed Friday, only after the government said it would try to address their demands, but they said they would be back soon if they were ignored.
“The government is to blame for all this,” said a trucker, Viktor Zarichnyuk, 26, who had been at the protest for 12 days. “We want the government and the national bank to agree that the money allocated by the International Monetary Fund, at least part of it, should go to regular people.”
At a branch of the Rodovid Bank across town, a tense crowd gathered Friday morning. The bank, close to failing, was allowing withdrawals of only $35 a day. And so people, some of them pensioners fearful for their life savings, have been trooping each day, ever more aggravated, to try to get what they can.
“Every day we come here — it’s insulting — in the cold and line up,” said Alevtina Antonyuk, 58, an engineer. “They are nothing at this bank but a bunch of thieves.”
Who is to blame, she was asked. Before she could answer, Dmitri Havrilkiv, 78, a retired crane operator, interrupted. “The government has to be replaced,” he shouted. “They just can’t handle it!”
- Renown forecaster Gerald Celente writes :
“The Greatest Depression” that The Trends Research Institute forecast, well before Wall Street or Washington would acknowledge recession, is upon us. The global financial markets are collapsing.
All the pundit’s cautious predictions and business media’s hopeful expectations at the New Year for an economic turn around and imminent market bottom were dead wrong. There will be no turn around in the second quarter of 2009 or 2010 or 2011 America and much of the world has entered “The Greatest Depression.”
The global financial system, built on endless supplies of cheap money, rampant speculation, fraud, greed, and delusion is terminally ill and will not be coaxed into remission by stimulus packages nor restored to health by government buyouts and bailouts.
Today, the MSCI World Index of stocks in 23 developed nations fell 4.9 percent to 713.75, the lowest closing level since March 2003, and its Emerging Markets Index slid 5 percent. The Dow followed, plunging 300 points, closing below 7,000 for the first time since 1997.
There is no stock market bottom in sight. The only figure that can be forecast with confidence is that the Dow won’t reach zero! As the crisis worsens, governments will take draconian measures to prevent total economic collapse and public panic. We have cautioned the likelihood of such measures before. But the rapidity and severity of the economic unraveling now demands immediate attention.
Expect massive bank failures, runs on banks, and bank holidays. Even if deposits are FDIC insured, quick access to money is by no means assured. At minimum, have reserves on hand for emergencies.
Trendpost: When the ship is sinking there are very few options: Life boats, life rafts, life preservers and for the late to act, possibly a few pieces of floating debris to cling to.
We are trend forecasters, not certified financial advisors legally empowered to provide such advice. Although gold prices declined today some $15 to $925 per ounce, we forecast that gold will be one of the few life saving investments that will continue to increase in value, reaching $2,000 per ounce and beyond.
The Trends Research Institute
- See also :
Gerald Celente – Criminal Congress, March 2009 Depression Crisis
Celente – Code Red ! Economy in Collapse !
Gerald Celente – Trends 2009
Gerald Celente – Israel War to Ignite Terror, Threaten Global Economy and possibly Spark World War III
Economic Meltdown 2009 – Gerald Celente, Bob Chapman & Robbie Noel
Economic Collapse of 2009 – Greater than Great Depression of 1929