Socio-Economics History Blog

Socio-Economics & History Commentary

Manufactured Fear: A History of False Flag Attacks Used To Manipulate The Minds of The People!

December 21, 2010 Posted by | GeoPolitics, History, Social Trends | , , , , , | 1 Comment

Joel Skousen: Obama’s So-Called Tax Cuts, The Continued Fleecing of America!

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December 21, 2010 Posted by | Economics, Social Trends | , , , , , , , | Comments Off on Joel Skousen: Obama’s So-Called Tax Cuts, The Continued Fleecing of America!

US$2T Debt Crisis Threatens To Bring Down 100 US Cities!

  • You cannot solve a debt problem with more debts(bailouts). The can has been kicked down the road. But the problem has become larger! It is a matter of when not whether the entire system will collapse! There is a 90% probability that the global economic, financial and monetary meltdown will occur in 2011 IMO!
     
    $2tn debt crisis threatens to bring down 100 US cities
    Overdrawn American cities could face financial collapse in 2011, defaulting on hundreds of billions of dollars of borrowings and derailing the US economic recovery. Nor are European cities safe – Florence, Barcelona, Madrid, Venice: all are in trouble
    Elena Moya, Guardian
     
    More than 100 American cities could go bust next year as the debt crisis that has taken down banks and countries threatens next to spark a municipal meltdown, a leading analyst has warned. Meredith Whitney, the US research analyst who correctly predicted the global
    credit crunch, described local and state debt as the biggest problem facing the US economy, and one that could derail its recovery.
     
    “Next to housing this is the single most important issue in the US and certainly the biggest threat to the US economy,” Whitney told the CBS 60 Minutes programme on Sunday night. “There’s not a doubt on my mind that you will see a spate of municipal bond defaults. You can see fifty to a hundred sizeable defaults – more. This will amount to hundreds of billions of dollars’ worth of defaults.”
     
    New Jersey governor Chris Christie summarised the problem succinctly: “We spent too much on everything. We spent money we didn’t have. We borrowed money just crazily. The credit card’s maxed out, and it’s over. We now have to get to the business of climbing out of the hole. We’ve been digging it for a decade or more. We’ve got to climb now, and a climb is harder.”
     
    American cities and states have debts in total of as much as $2tn. In Europe, local and regional government borrowing is expected to reach a historical peak of nearly €1.3tn (£1.1tn) this year.
     
    Cities from Detroit to Madrid are struggling to pay creditors, including providers of basic services such as street cleaning. Last week, Moody’s ratings agency warned about a possible downgrade for the cities of Florence and Barcelona and cut the rating of the Basque country in northern Spain. Lisbon was downgraded by rival agency Standard & Poor’s earlier this year, while the borrowings of Naples and Budapest are on the brink of junk status. Istanbul’s debt has already been downgraded to junk.
      
    Whitney’s intervention is likely to raise the profile of the issue of municipal debt. While she was an analyst at Oppenheimer, the New York investment bank, in October 2007 she wrote a damning report on Citigroup, then the world’s largest bank, predicting it would cut its dividend. She was criticised for being too pessimistic but was vindicated when the bank was forced to seek government support a year later. She has since set up her own advisory firm and is rated one of the most influential women in American business.
     
    US states have spent nearly half a trillion dollars more than they have collected in taxes, and face a $1tn hole in their pension funds, said the CBS programme, apocalyptically titled The Day of Reckoning.
     
    Detroit is cutting police, lighting, road repairs and cleaning services affecting as much as 20% of the population. The city, which has been on the skids for almost two decades with the decline of the US auto industry, does not generate enough wealth to maintain services for its 900,000 inhabitants.
     
    The nearby state of Illinois has spent twice as much money as it has collected and is about six months behind on creditor payments. The University of Illinois alone is owed $400m, the CBS programme said. The state has a 21% chances of default, more than any other, according to CMA Datavision, a derivatives information provider.
     
    California has raised state university tuition fees by 32%. Arizona has sold its state capitol and supreme court buildings to investors, and leases them back. Potential defaults could also hit Florida, whose booming real estate industry burst two years ago, said Guy J. Benstead, a partner at Cedar Ridge Partners in San Francisco. “We are not out of the woods by any stretch yet,” he said.
     
    “It’s all part of the same parcel: public sector indebtedness needs to be cut, it needs a lot of austerity, and it hit the central governments first, and now is hitting local bodies,” said Philip Brown, managing director at Citigroup in London. In Europe, where cities have traditionally relied more on bank loans and state transfers than bonds, financing habits are changing. The Spanish regions of Catalonia and Valencia have issued debt to their own citizens after financial markets shut their doors because of the regions’ high deficits. Moody’s cut to the rating of the Basque country on Friday left it still within investment grade but noted “the rapid deterioration in the region’s budgetary performance in recent years”. It said it expected it to continue over the medium term.
     
    In Italy, Moody’s and S&P have threatened to downgrade Florence, while Venice has been forced over the past few months to put some of the palazzi on its canals up for sale to fund the deficit. “Cities are on their own. Governments won’t come to their rescue as they have problems of their own,” said Andres Rodriguez-Pose, professor of economic geography at the London School of Economics. “Cities will have to pay for their debts, and in some cases they will have to carry out dramatic cuts, such as Detroit’s.”
     
    California crunch
    Vallejo, a former US navy town near San Francisco, is still trying to emerge from the Chapter Nine bankruptcy protection it entered in 2008. The city, now a symbol of distressed local finances, is still negotiating with the unions, which refused to accept a salary cut plan two years ago. Paul Dyson, an analyst with the Standard & Poor’s credit agency, said Vallejo, which is mostly a dormitory town for Oakland or San Francisco employees, did not have enough local industry to sustain its finances and property tax – a major source of local income – plunged with the collapse of the real estate market. The S&P credit-rating agency has a C rating on the town – the lowest level.
     
    With a population of about 120,000, Vallejo has $195m (£125m) of unfunded pension obligations and has to present a bankruptcy-exit plan to a Sacramento court by 18 January. Since 1937, 619 local US government bodies, mostly small utilities or districts, have filed for bankruptcy, Bloomberg News recently reported. US cities tend to default more than European municipalities as they usually rely on bonds issued to investors, which enter into a default if the creditor misses payments. European towns, by contrast, traditionally depend on bank loans and government bailouts.

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December 21, 2010 Posted by | Economics, Social Trends | , , , , , , , , , , , | 1 Comment

Tropical Cuba Facing Near Freezing Temperatures!

“There is no such thing as an independent press in America, unless it is in the country towns. You know it and I know it. There is not one of you who dares to write your honest opinions, and if you did, you know beforehand that it would never appear in print.
“I am paid $150.00 a week for keeping my honest opinion out of the paper I am connected with. Others of you are paid similar salaries for doing similar things. If I should permit honest opinions to be printed in one issue of my paper, like Othello, before twenty-four hours, my occupation would be gone.
“The business of the New York journalist is to destroy truth; to lie outright; to pervert; to vilify, to fawn at the feet of Mammon; to sell his country and his race for his daily bread. We are the tools and vessels for rich men behind the scenes. We are intellectual prostitutes.”
John Swinton, editor of the New York Tribune.

  • Yes, it is global warming, believe, believe, believe! The stupidity and pathological lying of these snakes are amazing! Of course, the sheeple who believes their propaganda, man-made global warming SCAM are even stupider ! The planet is very likely going into a mini ice age. It probably has something to do with the: 
     
    Gulf of Mexico Loop Current Broken!! Risk of Global Climate Change By BP Oil Spill ! ,
    Dr. Gianluigi Zangari: BP Gulf Oil Disaster, Gulf Stream Loop Current Breaking Down! Effects On Global Climate! , 
    Global Changes From Dying Gulf Stream And Dead North Atlantic Current!
      
    Cold snap grips Cuba with near freezing temperatures
    December 16, 2010 — Havana, Cuba (Reuters) Record breaking cold weather engulfs Cuba with temperatures as low as 35 degrees F. (1.9 degrees C.) on the tropical island. 
     
    An Arctic wave has brought record cold weather to Cuba on Thursday (December 16) where residents used to mild winter temperatures bundled up using what they could find in their limited closets to confront lows as cold as 35 degrees Fahrenheit (1.9 degrees C.). The cold front came down from a continental cold air mass that has dumped snow on much of the Midwest and eastern United States and brought ice alerts as far south as southern Florida where many schools were closed or had late starts due to the exceptional weather.
     
    In Havana, residents wearing layers, coats and hats did their best to keep warm in the coldest weather recorded in 50 years. “In my 65 years I have never felt such cold. It is too much,” said professor, Graciela Palacios. Surprisingly cold weather was registered in all 41 Cuban departments with mercury dropping furthest in Colon, 160 kilometres (100 miles) east of Havana, where a low of 35 degrees Fahrenheit (1.9 degrees Centigrade) was recorded overnight Wednesday (December 15).
     
    “I’m like, I can hardly walk. My fingers are numb. I am going crazy with this temperature change,” a state employee, Reina Diaz told Reuters in Havana. In total 31 records were broken with 22 being records for the month of December and 9 being the coldest day ever recorded in cities including Santa Cruz, 39 F. (4.0 C.); Esmeralada 40 F. (4.5 C.) Veguitas, 45 F. (7.2 C.); Guaimaro, 46 F. (7.8 C.); and Manzanillo, 48 F. (8.8 C.); in the east; Cienfuegos, 40 F. (4.5 C.) in the south; and Sancti Spiritus, 42 F. (5.7 C.) centrally in the island nation.
     
    “I’ve been to Germany and I have never felt such cold,” said a retired military man, Sixto Jose Feo Aciego. Cuba’s coldest recorded temperature was on February 18, 1996 when the thermometer dipped to 33 degrees Fahrenheit (0.6 degrees Centigrade). “As long as I can remember I have never witnessed such terrible cold. I hope it ends soon because we are gonna be wiped out from all this cold,” said restaurant worker, Gily Borroto.
     
    State television reported the cold weather throughout the Caribbean nation on Wednesday (December 15), warning residents, unprepared for such cold weather, to bunker down for the cold snap on the tropical island.

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December 21, 2010 Posted by | Disaster, Social Trends | , | 1 Comment

More Global Warming: When Summer Becomes Winter! Bitter Summer Freeze Bites Eastern States (of Australia) As Summer Gives Way To Snow And Cold !

Hikers at Charlotte Pass lookout in the NSW Snowy Mountains were greeted with 10cm of fresh snow as a cold snap hits the eastern coast of Australia. Picture: Steve Cuff Source: The Daily Telegraph

“We believe the picture painters of the mass media
are artfully creating landscapes for us
which deliberately hide the real picture.
In this book we will show you how to discover
the “hidden picture” in the landscapes presented
to us daily through newspapers, radio and television.”
Gary Allen, None Dare Call it Conspiracy, p. 7 (1972)

  • Wow, global warming is so strong it is even turning summer to winter. Global warming causes global cooling! Yeah right! Pigs can fly! If you believe in the man-made global hoax, you should go to planet Mars for a holiday. I hear the seaside resort is awesome! The world is probably entering a mini ice age. Give the global warming hoax a rest, you idiots!
     
    Bitter summer freeze bites eastern states as summer gives way to snow and cold
    THONGS and board shorts gave way to beanies and scarves yesterday as summer gave way to a wintry blast of snow and icy temperatures in the country’s southeast. While the bitter freeze in Europe continues, Victoria and NSW have had a cold snap of their own, with off-season ski slopes transformed into winter wonderlands.
     
    About 30cm of snow fell at Perisher in NSW yesterday, while Victoria’s Mount Hotham received a 10cm dusting on Sunday. Charlotte’s Pass in the NSW Snowy Mountains also received a 10cm sprinkling of snow, prompting would-be bushwalkers to don clothing more suitable for skiing.
      
    It was surprising to see the Kosciuszko Chalet Hotel blanketed with snow at this time of year, resort manager Michelle Lovius told
    The Australian yesterday. “I’m sitting inside in my scarf and beanie,” she said. “When you walk in it, it’s up past your ankles and it’s just started snowing heavily again. ”
     
    In Sydney yesterday, there were blustery winds and unseasonably low temperatures of just 13C. The western suburb of Horsley Park recorded 9.8C and the Blue Mountains dropped to -2C. Victorian State Emergency Services yesterday attended to at least six lightning-damaged houses in Aspenville, south of Melbourne, which was hit by a storm on Sunday night.
     
    On the Gold Coast, a storm blacked out more than 10,000 homes and businesses over the weekend, while in Western Australia’s northern Gascoyne region scores of people remained isolated by the worst flooding in 50 years. Millions of dollars of damage was caused to crops, livestock and buildings in WA.
     
    But if you think we’ve got it tough spare a thought for our northern hemisphere friends, with much of Europe remaining paralysed by snow. Tens of thousands of passengers were stranded as flightsat Europe’s busiest airports in London, Paris, and Frankfurt were cancelled or delayed at one of the busiest times of the year.
     
    Australians trying to head home for Christmas have battled chaotic scenes at British airports as the freezing temperatures continue to wreak havoc on flight schedules. With temperatures dipping to minus 10 in the early hours of Monday at Heathrow Airport, airlines had no chance of clearing the enormous backlog of flights that followed Saturday’s heavy dump of snow in the capital.
     
    The Australian reported that about
    1000 Qantas passengers remain stranded and snowbound at London’s Heathrow airport, while several thousand have been grounded in Asia awaiting clearance to fly to the UK. Qantas continued to operate some flights out of London but the icy conditions forced many to be postponed to the frustration of passengers. Hundreds of travellers had to wait outside in the arctic conditions before entering Heathrow’s Terminal Three because it was jam-packed with stranded passengers.

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December 21, 2010 Posted by | Disaster, Social Trends | | 1 Comment

Alex Jones: United Nation Planning to Control The Internet!

“The New World Order under the UN will reduce everything to one common denominator. The system will be made up of a single currency, single centrally financed government, single tax system, single language, single political system, single world court of justice, single state religion…Each person will have a registered number, without which he will not be allowed to buy or sell; and there will be one universal world church. Anyone who refuses to take part in the universal system will have no right to exist.”
Assessment of the New World by Dr. Kurk E. Koch 
 
“No one will enter the New World Order unless he or she will make a pledge to worship Lucifer. No one will enter the New Age unless he will take a Luciferian Initiation.”
David Spangler, Director of Planetary Initiative, United Nations
 
After the insiders have established the United Socialist States of America (in fact if not in name), the next step is the Great Merger of all nations of the world into a dictatorial world government. … The Insiders’ code word for the world superstate is “new world order,” a phrase often used by Richard Nixon. The Council on Foreign Relations states in its Study No. 7: “The U.S. must strive to: A. BUILD A NEW INTERNATIONAL ORDER.” … A world government has always been the object of the Communists.
Gary Allen (1936-1986) American journalist. Source: None Dare Call it Conspiracy, p. 7 (1972)

December 21, 2010 Posted by | EndTimes, GeoPolitics, Social Trends | , , , | 1 Comment

Porter Stansberry Research: The End of America! Economic, Financial And Monetary Collapse Within Next 12 Months?!!

December 21, 2010 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , | 4 Comments