Socio-Economics History Blog

Socio-Economics & History Commentary

Iran’s Foreign Minister: ‘Nuclear Weapons Against Our Beliefs’!

https://socioecohistory.wordpress.com/2012/09/01/ayatollah-ali-khamenei-says-iran-has-no-interest-in-nuclear-weapons-just-peaceful-nuclear-energy/

http://www.jpost.com/IranianThreat/News/Article.aspx?id=176874

Who is threatening who with nuclear annihilation? Click on image to go to article!

http://www.dailymail.co.uk/news/article-1280774/Revealed-Israeli-defence-minister-offered-nuclear-weapons-South-Africa.html

https://socioecohistory.wordpress.com/2011/05/07/666-star-of-david-or-star-of-moloch-satanic-hexagram-symbol/

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

http://www.guardian.co.uk/commentisfree/2006/jun/14/post155

Be careful of all the lies and propaganda of the Zionist Illuminist western MSM !

end

February 28, 2013 Posted by | GeoPolitics | , , , , , , , , , , , | Comments Off on Iran’s Foreign Minister: ‘Nuclear Weapons Against Our Beliefs’!

Mars May Be Habitable Today, Scientists Say!

http://www.space.com/19928-mars-habitable-life-possible.html

Click on image for article!

  • The mind games continue. The Illuminists are preparing the sheeple for the revelation of Life on Mars! Their intent is to use the revelation of a startling truth to sell an even bigger LIE. This is the UFO-Alien Invasion/Disclosure HOAX. These beings that are coming are the demons, Nephilim, genetically corrupted/engineered creatures, fallen angels … of the Antediluvian world of Genesis 6! The Roman Catholic Church, the Vatican, is in on this coming FRAUD. They are beginning to promote the ‘Alien’ Gospel ie. another Gospel ! This is the endtimes strong delusion!

    2 Thessalonians 2:9-12 (New King James Version)
    9 The coming of the lawless one is according to the working of Satan, with all power, signs, and lying wonders, 10 and with all unrighteous deception among those who perish, because they did not receive the love of the truth, that they might be saved. 11 And for this reason God will send them strong delusion, that they should believe the lie, 12 that they all may be condemned who did not believe the truth but had pleasure in unrighteousness.
  • There is obviously life on Mars. Those of us who have studied the pictures, records, scientific reports …. know it. Why do you think so many countries are sending space probes/orbital satellites to Mars? The latest being India! There are plant life and trees. The question is: what are those strange structures? Buildings? Ruins of ancient civilizations?

    Mars May Be Habitable Today, Scientists Say! 
    by Rod Pyle, SPACE.com Contributor
    LOS ANGELES — While Mars was likely a more hospitable place in its wetter, warmer past, the Red Planet may still be capable of supporting microbial life today, some scientists say.

    Ongoing research in Mars-like places such as Antarctica and Chile’s Atacama Desert shows that microbes can eke out a living in extremely cold and dry environments, several researchers stressed at “The Present-Day Habitability of Mars” conference held here at the University of California Los Angeles this month.

    And not all parts of the Red Planet’s surface may be arid currently — at least not all the time. Evidence is building that liquid water might flow seasonally at some Martian sites, potentially providing a haven for life as we know it.

    “We certainly can’t rule out the possibility that it’s habitable today,” said Alfred McEwen of the University of Arizona, principal investigator for the HiRise camera aboard NASA’s Mars Reconnaissance Orbiter spacecraft. [The Search for Life on Mars: A Photo Timeline]

    Surface water on Mars?
    McEwen discussed some intriguing observations by HiRise, which suggest that briny water may flow down steep Martian slopes during the local spring and summer.


    Sixteen such sites have been identified to date, mostly on the slopes of the huge Valles Marineris canyon complex, McEwen said. The tracks seem to repeat seasonally as the syrupy fluids descend along weather-worn pathways.

    While the brines may originate underground, Caltech’s Edwin Kite noted, there is an increasing suspicion that a process known as deliquescence — in which moisture present in the atmosphere is gathered by compounds on the ground, allowing it to become a liquid — may be responsible. Astrobiologists are keen to learn more about these brines, for not much is known about them at the moment.

    “Briny water on Mars may or may not be habitable to microbes, either from Earth or from Mars,” McEwen said.

    Hardy microbes
    Martian life may be able to survive even in places where water doesn’t seep and flow, some scientists stressed. For example, microbes here on Earth make a living in the Atacama and the dry valleys of Antarctica, both of which are extremely cold and arid, said Chris McKay of NASA’s Ames Research Center in Moffett Field, Calif.


    Antarctic sites also receive seasonally high ultraviolet radiation doses thanks to a hole in the ozone layer that tends to develop every August through November. This provides yet another parallel to Mars, whose thin atmosphere and lack of a protective magnetic field make the planet more radiation-bombarded than Earth.

    In the Antarctic dry valleys, McKay said, organisms dwell within rocks, just deep enough to be shielded from the worst of the UV but close enough to the surface to receive the benefits of photosynthesis. Something similar might be happening on Mars today, if life ever evolved there. McKay also discussed deliquescence, which in the Atacama allows salts to gather enough water to support the existence of life.

    McKay offered some advice to NASA’s Mars rover Curiosity, which landed in August to determine whether Mars could ever have supported microbial life: “Watch for salt along the road!”

    read more!
  • www.marsanomalyresearch.com appears to be down. Joseph Skipper had a broken hip and is unreachable (probably resting at his daughter’s place). We will have to wait for him to recover and become contactable!
http://www.marsanomalyresearch.com/general-directories/book-1/ad-doc.htm

Click on image to goto website!

http://www.marsanomalyresearch.com/evidence-reports/2005/084/hale-civ-evidence.htm

Ancient ruins? Signs of civilization?

https://socioecohistory.wordpress.com/2012/11/26/flashback-2008-world-class-astrobiologist-says-nasas-hiding-current-life-on-mars/

http://www.cyberspaceorbit.com/frontpage/relimpl.htm

https://socioecohistory.wordpress.com/2013/02/18/flashback-2008-vatican-says-aliens-are-our-brothers-and-maybe-free-from-original-sin-life-on-mars-cannot-be-ruled-out/

Click on image to goto article!

end

February 28, 2013 Posted by | EndTimes, Science & Technology | , , | 2 Comments

Can Google Change History?

Goebbels_Big_Lie2

The_Experts_Agree_Gun_control_works

end

February 28, 2013 Posted by | GeoPolitics, History | , , , , , | Comments Off on Can Google Change History?

Italians Defy EU Austerity Demands!

February 28, 2013 Posted by | Economics | , , , , , , , | Comments Off on Italians Defy EU Austerity Demands!

Sm-ugly Trial: Blackwater in Cozy Bond with Govt, Dodges Justice!

Jeremy_Scahill_Blackwater_the_Rise_of_Worlds_Most_Powerful_Mercenary_Army

end

February 28, 2013 Posted by | GeoPolitics | , , , , , , , , | Comments Off on Sm-ugly Trial: Blackwater in Cozy Bond with Govt, Dodges Justice!

Class Divide: UK Masses Slide into Poverty as Austerity Ramps Up!

February 28, 2013 Posted by | Economics, Social Trends | , , , , , , , | Comments Off on Class Divide: UK Masses Slide into Poverty as Austerity Ramps Up!

CrossTalk: US Defense Budget Boom vs Social Cuts!

  • Daniel 7:23 (New King James Version)
    23 “Thus he said:
    ‘The fourth beast shall be
    A fourth kingdom on earth,
    Which shall be different from all other kingdoms,
    And shall devour the whole earth,

    Trample it and break it in pieces.


    Daniel 11:36-39 (New King James Version)
    36
    “Then the king shall do according to his own will: he shall exalt and magnify himself above every god, shall speak blasphemies against the God of gods, and shall prosper till the wrath has been accomplished; for what has been determined shall be done. 37 He shall regard neither the God[a] of his fathers nor the desire of women, nor regard any god; for he shall exalt himself above them all.

    38 But in their place he shall honor a god of fortresses; and a god which his fathers did not know he shall honor with gold and silver, with precious stones and pleasant things. 39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain.
  • All wars are based on deception! – Sun Tzu, The Art of War!
http://www.politifact.com/truth-o-meter/statements/2011/sep/14/ron-paul/ron-paul-says-us-has-military-personnel-130-nation/

Click on image to goto article!

US 'defence' (war really) budget is well over US$1T when all the discretionary spending are added ! It is over 50% of tax revenues!

Discretionary spending in the FY 2013 budget was slashed to $1.264 trillion from $1.319 trillion budgeted in FY 2012. America is a WAR economy!

Discretionary spending in the FY 2013 budget was slashed to $1.264 trillion from $1.319 trillion budgeted in FY 2012. America is a WAR economy!

US-military-presence-overseas

end

February 28, 2013 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , | Comments Off on CrossTalk: US Defense Budget Boom vs Social Cuts!

Slow Strangulation: ‘Iran Sanctions a War on Ordinary Citizens’!

https://socioecohistory.wordpress.com/2009/04/01/major-general-smedley-butler-war-is-a-racket/

General Smedley Butler: War is a racket!

end

February 28, 2013 Posted by | GeoPolitics | , , , , , , , , , , | Comments Off on Slow Strangulation: ‘Iran Sanctions a War on Ordinary Citizens’!

Obama to Threaten Iran with Military Strike in June, Israeli Media Reports!

https://socioecohistory.wordpress.com/2011/05/26/ashkenazi-jews-are-not-descendents-of-the-biblical-israelites-2/

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

  • The Zionists, of course, want America to do the dirty job for them! But I don’t think so! Chuck Hagel, as I have concluded earlier, is now elected as Secretary of Defense! He is pro-America and largely anti-Zionist agenda. He is, IMO, pro war based on his past voting records. So, still an Illuminist puppet. I believe the stage is set for Zionist ‘666’ Israel, the Satanic counterfeit, to trigger the Satanic World War 3! US and NATO will fight this Greater Middle East war via their proxy Zionist ‘666’ Israel.
  • Many Christian sheeple will fall when Zionist ‘666’ Israel is destroyed ! They have been brought up on the LIE that Zionist ‘666’ Israel is the Israel of the Bible! This is NONSENSE! The God of the Bible does not lead using a Satanic ‘666’ Hexagram, Star of David flag. Ashkenazi Khazars, non semitic people, 90+% of modern Jewry are not the biological descendents of the 12 tribes of Israel ! They are not real Jews! They are Gentiles!
  • The Synagogue of Satan wants to destroy Christianity (and Islam). What better way than via the destruction of Zionist ‘666’ Israel? With the destruction of these 2 religions that believe in the God of Abraham, that reject ‘666’ as Satanic, the Satanists will launch their Luciferian One World Religion! Remarks mine:

    Albert Pike, Satanic World War 3 Plan

    The Third World War must be fomented by taking advantage of the differences caused by the “agentur” of the “Illuminati” between the political Zionists and the leaders of Islamic World. The war must be conducted in such a way that Islam (the Moslem Arabic World) and political Zionism (the State of Israel) mutually destroy each other. ….more!
  • Obama to threaten Iran with military strike in June, Israeli media reports! 
    by http://rt.com/ 
    President Barack Obama says the United States could launch an attack on Iran as early as this June, Israeli media reports.

    According to a report on Israel’s Channel 10 News that has since been picked up by the Times of Israel, Pres. Obama will use an upcoming meeting overseas to discuss a military strike on Iran. Pres. Obama is scheduled to visit Israeli Prime Minister Benjamin Netanyahu next month, and during the get-together the two leaders will reportedly work out the details for a possible assault.

    Pres. Obama will tell Netanyahu that a “window of opportunity” for a military strike on Iran will open in June, Channel 10 claims.

    Israel has long-urged the White House to use its military prowess to intervene in Iran’s rumored nuclear weapon procurement plan, demands which have by-and-large been rejected by the Obama administration. According to the latest reports, though, the United States might finally be willing to use its might to make a stand against Iran’s race for a nuke.

    “I have conversations with Prime Minister Netanyahu all the time. And I understand and share Prime Minister Netanyahu’s insistence that Iran should not obtain a nuclear weapon, because it would threaten us, it would threaten Israel, and it would threaten the world and kick off a nuclear arms race,” (War Propaganda!) Pres. Obama said during an interview on the television program 60 Minutes last year, but not before adding that he’ll continue to block “noise” from Netanyahu’s camp. “Now I feel an obligation, not pressure but obligation, to make sure that we’re in close consultation with the Israelis — on these issues. Because it affects them deeply. They’re one of our closest allies in the region. And we’ve got an Iranian regime that has said horrible things that directly threaten Israel’s existence,” he said.

    But five months after those remarks, Iran is still inclined to become a nuclear power. Only days earlier, The Jerusalem Post reported that Netanyahu said the details of a confidential report by the International Atomic Energy Agency suggested that that Iran had begun installing advanced centrifuges at its main uranium enrichment facility, sparking “very grave” concerns that Israel could be hit with a nuke. (This is war propaganda!)

    read more!
https://socioecohistory.wordpress.com/2013/02/05/panetta-says-iran-has-not-made-the-decision-to-build-a-nuclear-weapon/

Click on image to goto article!

http://www.haaretz.com/news/diplomacy-defense/mossad-cia-agree-iran-has-yet-to-decide-to-build-nuclear-weapon-1.419300

Why is genocidal madman Netanyahu screaming for war with Iran? It is all about the global petrodollar hegemony all about the coming Luciferian New World Order!

http://articles.cnn.com/2012-04-25/middleeast/world_meast_israel-iran_1_nuclear-program-energy-and-medical-purposes-nuclear-watchdog

http://www.au.af.mil/au/awc/awcgate/cpc-pubs/farr.htm

by Warner D. Farr, LTC, U.S. Army, http://www.au.af.mil/

“Iran doesn’t frighten me and I don’t think it should frighten the American people. They don’t have a bomb. They haven’t made a decision to build one. They don’t have the means to deliver one. And the Israelis have 300 atomic bombs! I mean who presents the existential threat to whom?” – Pat Buchanan (7:58 onwards)

http://www.wired.com/science/discoveries/news/2007/10/dayintech_1005#

end

February 28, 2013 Posted by | GeoPolitics | , , , , , , , , , , , , , | Comments Off on Obama to Threaten Iran with Military Strike in June, Israeli Media Reports!

US Mint Sets All-Time Silver Eagle Sales Record for February – Nearly 11 Million Sold in 2013!

Silver Eagle coin. Going ... going ... gone soon!

Silver Eagle coin. Going … going … gone soon!

  • US Mint Sets All-Time Silver Eagle Sales Record for February- Nearly 11 Million Sold in 2013! 
    by http://www.silverdoctors.com/ 
    After smashing the all-time monthly sales record in January by selling 7.5 million Silver Eagles (even with production halted for half the month), silver eagle sales have continued at a record setting clip.   The Mint’s latest February sales statistics indicate the mint has already sold a record 3.37 million silver eagles in February, eclipsing February 2011′s previous record for the month of February of 3.24 million ounces sold.

    In a little over a month of actual production, the US Mint has sold a mind-blowing 10,866,500 ASE’s, approximately 33% of entire sales for 2012!

    From the US Mint:

    2013 Silver Sales Totals (in ounces / number of coins)
    Month One ( oz. / #coins )
    January 7,498,000 7,498,000
    February 3,368,500 3,368,500
    Total 10,866,500 10,866,500

    Thus far for 2013, the Mint has sold 228,000 oz of gold eagles, vs. 10.866 million silver eagles, continuing the recent trend of selling nearly 50 times the volume of silver vs gold.
    ….
    Previous January and February monthly records, set in 2011:

    2011 Silver Sales Totals (in ounces / number of coins)
    Month One ( oz. / #coins )
    January 6,422,000 6,422,000
    February 3,240,000 3,240,000
    March 2,767,000 2,767,000
    April 2,819,000 2,819,000
    May 3,653,500 3,653,500
    June 3,402,000 3,402,000
    July 2,968,000 2,968,000
    August 3,679,500 3,679,500
    September 4,460,500 4,460,500
    October 3,064,000 3,064,000
    November 1,384,000 1,384,000
    December 2,009,000 2,009,000
    Total 39,868,500 39,868,500

    Got PHYZZ??

end

February 28, 2013 Posted by | Economics | , , | Comments Off on US Mint Sets All-Time Silver Eagle Sales Record for February – Nearly 11 Million Sold in 2013!

GEAB N°72: Global Systemic Crisis – Second Half of 2013 – The Reality or the Anticipation of the Dollar Collapse Obliges the World to Reorganize on New Fundamentals!

Hurricane_Sandy_threatening_NewYork_Oct2012

  • GEAB N°72 is available! Global systemic crisis – Second half of 2013: The reality or the anticipation of the Dollar collapse obliges the world to reorganize on new fundamentals! 
    by http://www.leap2020.eu/ 
    Just as the Euro crisis pushed Europe to modernize and adapt its economic and financial governance to the challenges of the 21st century, the terrible US dollar crisis will oblige the world to transform the whole of world governance structures, beginning of course with the international monetary system to calm the storm which is on the point of striking currencies.

    According to our anticipations, this reorganization which will only start to become a reality with the September G20 unfortunately risks taking place in a hurry since our team envisages the first major fears over the Dollar during the March-June 2013 period.

    A phrase by Antonio Gramsci (1) splendidly describes the long, dangerous transition period that we are currently living through: “The old world is dying away, and the new world struggles to come forth: now is the time of monsters”. This period will finally come to an end but the monsters are still restless.

    With no surprise, one of the powerful factors which will accelerate the United States’ loss of influence in the world relates to oil. In fact we are witnessing the last days of the petrodollar, the key element of US domination. This is why we have decided to deal with the world oil problem at length in this GEAB. We are also publishing the GEAB Dollar-Index and Euro-Index to follow currency developments more reliably in the current monetary storm. Finally, as usual, we finish with the GlobalEurometre.

    In this public announcement for the GEAB N°72, our team has chosen to present a series of converging indices on the crisis which leads it to keep its “global systemic crisis”  alert in force for the March-June 2013 period, as well as its anticipation of the risk of “Icelandisation” in the management of the banking crisis.

    A flurry of signs of crisis, or why we are keeping the March-June 2013 alert 
    Since last month (GEAB n°71), the converging line of strong trends and indices announcing a catastrophe during the March-June 2013 period have strengthened further. First of all it’s the “currency wars” which takes on political dimensions and ruins the confidence that countries give each other. We will expand on our analysis below. But it’s also many of the domestic indices which should ring alarm bells about the United States.

    In deciding to separate the debates on the budgetary cuts/increase in taxation and on the debt ceiling (2), the Americans have doubled the shock to come: there was only one at the end of February/beginning of March, there is now another in May. This separation reveals the Republicans’ strategy clearly. Of course they will exert a power struggle to the maximum over raising the debt ceiling to reduce spending further, but they will ultimately feel obliged to vote for a rise in order not to be held responsible for the cataclysm which would follow a payment default (3). On the other hand the consequences of the budgetary cuts envisaged for March 1st, though certainly not painless, are far from being as traumatising and the Republicans have really decided to negotiate a sizeable reduction in the public deficit under penalty of leaving the last resort of automatic cuts at work.

    read more!
Death of dollar!

Death of dollar!

end

February 28, 2013 Posted by | Economics | , , , , , , , , , , , | Comments Off on GEAB N°72: Global Systemic Crisis – Second Half of 2013 – The Reality or the Anticipation of the Dollar Collapse Obliges the World to Reorganize on New Fundamentals!

Merkel Advisor Feld: “Euro Crisis Will Return Shortly And With A Vengeance”!

Revelation 13:1 -  Then I stood on the sand of the sea. And I saw a beast rising up out of the sea, having seven heads and ten horns,(b) and on his horns ten crowns, and on his heads a blasphemous name.

Revelation 13:1 – Then I stood on the sand of the sea. And I saw a beast rising up out of the sea, having seven heads and ten horns,(b) and on his horns ten crowns, and on his heads a blasphemous name.

“We have to think about how to deal with a modified eurozone.” What exactly a “modified” eurozone means we don’t know. We will, however, surely find out soon enough. – Quote

  • Merkel Advisor Feld: “Euro Crisis Will Return Shortly And With A Vengeance”! 
    by Tyler Durden, www.zerohedge.com
    For all the groundless, starry-eyed optimism permeating Europe’s bureaucratic corridors of the fading oligarchy these days (because this time is not like every other time that, too, was different), there has always existed one sure, never-fail antidote: Germany, which without fail has managed to ground Europe any time its delusion of grandure hit escape velocity. Sure enough, while all the statist soothsayers who threatened with armageddon if the outcome of the Italian elections happened to be precisely the one that transpired, were stuck in backpedal mode, and scrambling to calm nerves that all shall be well after all, one person who refuses to play by the script is Lars Feld, member of panel of economic advisers to German Chancellor Angela Merkel, who in an interview with the Frankfurter Allgemeine Zeitung tomorrow says the euro crisis is to return shortly and “with a vengeance” as capital loss will lead to higher risk premiums for Italy’s interest rates.

    From Handelsblatt, previewing the FAZ Wednesday edition: 

    The Italian economy would not find their way out of the recession, according to the pessimistic assessment by Lars Feld: “The sustainability of Italian public finances is in jeopardy. The euro crisis will therefore return shortly with a vengeance.”

    Apparently, the Italians were not ready to move on the path of reform that has been taken by Mr. Mario Monti, Field said. 


    “You can not expect that Italy’s European partners or the ECB will stabilize the Italian economy, when its people are not ready for reform.”

    And making sure Feld is not alone, he was joined by Anton Boerner, head of Germany’s BGA exporters’ association, who in turn said Italy must reform tax, labor, judicial system or risk “irreparable damage” of euro. Finally, Boerner says if Italy not willing to reform, “we have to think about how to deal with a modified eurozone.”

    What exactly a “modified” eurozone means we don’t know. We will, however, surely find out soon enough.

Euro_on_fire

end

February 28, 2013 Posted by | Economics, EndTimes, GeoPolitics | , , , , , , , , , , | Comments Off on Merkel Advisor Feld: “Euro Crisis Will Return Shortly And With A Vengeance”!

Karl Denninger: FedRes Balance Sheet – Firecracker to Great Big Bomb!

  • Karl Denninger: FedRes Balance Sheet – Firecracker to Great Big Bomb! 
    by Greg Hunter’s USAWatchdog.com
    Analyst/trader Karl Denninger thinks the Federal Reserve’s $3 trillion balance sheet could blow up the economy.  The Fed is adding $85 billion to it every month!  Denninger says, “The larger the balance sheet gets, the more powder Bernanke is piling into the brick house.  So, instead of a firecracker, he’s got a great big bomb in there now.”  Denninger asks, “What happens when you have to sell to raise money to pay the interest on the excess reserves.”   The “excess reserves” is money the big banks are holding at the Fed—for now.  Denninger predicts, “The only way Bernanke wins his bet on not getting trapped by this is if we are Japan . . .  that means no economic growth and no recovery.”  Denninger goes on to say, “The only thing that holds this whole ball of string together is the federal government running deficits, and we have this little problem called the sequester.”  Join Greg Hunter as he goes One-on-One with Karl Denninger of Market-Ticker.org. 

end

February 28, 2013 Posted by | Economics | , , , , , , , , , , , | Comments Off on Karl Denninger: FedRes Balance Sheet – Firecracker to Great Big Bomb!

Will Italy Be The Spark That Sets Off Financial Armageddon In Europe?

Financial Armageddon dead ahead !

Financial Armageddon dead ahead !

  • Will Italy Be The Spark That Sets Off Financial Armageddon In Europe? 
    by Michael, http://theeconomiccollapseblog.com/ 
    Is the financial collapse of Italy going to be the final blow that breaks the back of Europe financially?  Most people don’t realize this, but Italy is actually the third largest debtor in the entire world after the United States and Japan.  Italy currently has a debt to GDP ratio of more than 120 percent, and Italy has a bigger national debt than anyone else in Europe does.  That is why it is such a big deal that Italian voters have just overwhelmingly rejected austerity.  The political parties led by anti-austerity candidates Silvio Berlusconi and Beppe Grillo did far better than anticipated.  When you combine their totals, they got more than 50 percent of the vote. 

    Italian voters have seen what austerity has done to Greece and Spain and they want no part of it.  Unfortunately for Italian voters, it has been the promise of austerity that has kept the Italian financial system stable in recent months.  Now that Italian voters have clearly rejected austerity, investors are fearing that austerity programs all over Europe may start falling apart.  This is creating quite a bit of panic in European financial markets right now.  On Tuesday, Italian stocks had their worst day in 10 months, Italian bond yields rose by the most that we have seen in 19 months, and the stocks of the two largest banks in Italy both fell by more than 8 percent.  Italy is already experiencing its fourth recession since 2001, and unemployment has been steadily rising.  If Italy is now “ungovernable”, as many are saying, then what does that mean for the future of Italy?  Will Italy be the spark that sets off financial armageddon in Europe?

    All of Europe was totally shocked by the election results in Italy.  As you can see from the following excerpt from a Bloomberg article, the vote was very divided and the anti-austerity parties did much better than had been projected…

    The results showed pre-election favorite Pier Luigi Bersani won the lower house with 29.5 percent, less than a half a percentage point ahead of Silvio Berlusconi, the ex-premier fighting a tax-fraud conviction. Beppe Grillo, a former comedian, got 25.6 percent, while Monti scored 10.6 percent. Bersani and his allies got 31.6 percent of votes in the Senate, compared with 30.7 percent for Berlusconi and 23.79 percent for Grillo, according to final figures from the Interior Ministry.

    So what do those election results mean for Italy and for the rest of Europe? Right now, there is a lot of panic about those results.  There is fear that what just happened in Italy could result in a rejection of austerity all over Europe

    read more!

end

February 28, 2013 Posted by | Economics | , , , , , , , , , , , | Comments Off on Will Italy Be The Spark That Sets Off Financial Armageddon In Europe?

ECB Bond Plan in Jeopardy as Italy’s Voters Reject Conditions! A Catastrophe for the Euro And the European Union!

euro_logo_dynamite

  • ECB bond plan in jeopardy as Italy’s voters reject conditions! 
    by , http://www.telegraph.co.uk/ 
    Italy’s electoral earthquake is “a catastrophe for the euro and the European Union”, according to Luxembourg’s foreign minister, Jean Asselborn.

    The verdict was much the same in chancelleries across the eurozone, especially in those countries already starting to feel the first wave of contagion.

    “The result touches us all,” said Spain’s foreign minister, Jose Manuel Garcia-Margallo. “It is a jump into the void that bodes well for nobody, neither for Italy, nor for the rest of Europe.”

    Almost 57pc of the Italian vote went to parties that have vowed to tear up the EU austerity script. Together they control a majority of senate seats. The Five Star movement of comedian Beppe Grillo, which won 25pc of the vote, has called for a euro referendum and has a return to the lira as one of its manifesto pledges, while ex-premier Silvio Berlusconi has threatened to pull Italy out of the currency bloc unless the EU switches to a reflation strategy.

    Even if the centre-left leader, Pier Luigi Bersani, can put together a “grand coalition” with Mr Berlusconi, there is no going back to the hairshirt regime imposed by Mario Monti’s technocrat government at the EU’s behest over the past 15 months.

    read more!

end

February 28, 2013 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , | Comments Off on ECB Bond Plan in Jeopardy as Italy’s Voters Reject Conditions! A Catastrophe for the Euro And the European Union!