Thoughts as I Watched the Revolution in Egypt…(Update 1X)

~~By InsightAnalytical-GRL

UPDATE  4/27/11

Well, Egypt  isn’t turning out so great…It’s all so predictable, isn’t it?  Any whiff of hope anywhere gets squelched real fast. 
And we’re now involved with Libya.  Meanwhile, the powers in Syria seem to be emulating the Libyan approach to dealing with protesters.

It’s like watching one disheartening train wreck after another.

Some personal train wrecks have taken me away from this blog…but, a rest still is in order.  It takes a lot of energy to fight the world these days!

One real positive is that our photovoltaic solar system is now up and running and yes, the meter is running backwards!  Have lots of pics and details which I hope to post one of these days!

*****

Nothing profound here to say, only an urge to write about my feelings as I’ve been sitting glued to Al Jazeera for days on end.

Today, I was clapping and cheering for the people of Egypt. A rush of feelings and memories flashed by.  I remembered 2000 as our elections were completely corrupted. (Some satisfaction as George W.  Bush is unable to go to Switzerland…war criminal that he is!)  I was thinking of the lies that led to the Iraq War and thought about the report I heard this morning on NPR about how there are fears that something may coalesce as the heat arrives and the electricity remains on only 2 hours a day. Protests percolating already around Iraq, and I say, go for it!

I’m finding myself coming back over and over again to about how the U.S. is perhaps going to get its ass kicked and deservedly so. They utter hypocrisy of the “democracy talk” as we sit here supporting repressive regimes all over the world.  We are a fraud when it comes to democracy.

My mind dwells on the right wing religious freaks and the Republican Party that has become their home who continue to attempt to screw women out of their rights and their independence as human beings, who basically are out to screw anything that helps people. And I’m supposed to worry about the Muslim Brotherhood while I live in a country that has it’s own brand of the Taliban roaming the halls of Congress??

I think of John Lennon. A site has “Revolution” up but I’m thinking of “Power to the People.” Is that the right title? I don’t know, but I can hear John singing it. Who really killed John Lennon? I’ve seen enough and read enough to figure it wasn’t just another “lone gunman.”

I’m sitting here, having celebrated my 60th birthday a few days ago….reflecting on the marches for women’s rights, the power of the movement, and how every time a fucking Republican comes along…with fake Democrats who assist…how every time we go BACKWARDS! And how backwards we have gone!  I think about the type of  “leadership” we have in this country…there are no real thinkers leading these days.  Between the servants of the bankers,  the increasingly shrill Republicans and passive Democrats…Jeebus, am I supposed to look at the Palins, Gingriches, Romneys and that Jeb Bush lurking in the corner and feel optimistic??  When I see how skillfully a Chris Christie can take a state like New Jersey and divide people into camps and blame all ills on teachers  and the people who do the day to day work to keep the place running?….disgusting!  Lying thuggery personified…and just the tip of the iceberg, I’m afraid. And Obama pontificating on democracy after Mubarak’s demise…what a load of crap.

I think about how we were supposed to get some “community radio” but all I hear is right wing shit talk radio all over the dial. People getting very little true news follow these propagandists for the right as they go about their highly-paid work to divide and conquer and sow the seed of intolerance and hate.

Yeah, I’m watching Egypt and cheering them on….but knowing full well that the arm of the IMF will probably soon reach in and grab them by the throat. Hell, we fund it and guess what? The IMF is talking about the dollar no longer being the reserve currency for the world. I’m just surprise all this is happening so quickly…Between the IMF and the Fed, Americans do not know how the world is getting screwed and how it’s going to come back to bite them.

Fat and unaware Americans will soon wake up to find that they are being ground down to a pulp.  Your dollars will be worthless soon.

We wrote a lot in the past about the impending disaster that was going to befall lthis nation.  There are many wonderful sites out there trying to wake people up. I read them every day…and spend a lot of time trying to figure out how to save my own financial neck.

Start stocking up on food, go to ChrisMartenson.com to start to try to prepare yourself (in right sidebar links).

And to the Egyptian people…stay strong, stay proud. I’m rooting for you…you’re starting fresh while the U.S. is rotting from the inside.  Note to the women there…get loud and don’t let them steamroller you…

Bloomberg Investigative Reporter Mark Pittman, Dead at 52 (Predicted Collapse of Banking System; Fought for More Fed Transparency)

~~By InsightAnalytical-GRL

Bloomberg News has reported that Mark Pittman, who investigated the run-up to the banking system crash, has died.  From Bloomberg:

Mark Pittman, Reporter Who Foresaw Subprime Crisis, Dies at 52

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.

Pittman’s determination to dig into the workings of the Federal Reserve led to a recent court victory:

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.

Pittman wrote an article in mid-2007 warning of the mortgage bond risks and was mocked, as so many are who try to put the truth out there:

His June 29, 2007, article, headlined “S&P, Moody’s Hide Rising Risk on $200 Billion of Mortgage Bonds,” was excoriated at the time by Portfolio.com for “trying to play ‘gotcha’ with the ratings agencies.”

“And that really isn’t helpful,” said the unsigned posting.

Not helpful, for whom??

The story continues:

Pittman’s story proved prescient. So did his reports on U.S. banks exporting toxic mortgages overseas, on Treasury Secretary Henry M. Paulson’s role in creating those troubled assets while he was chief executive officer of Goldman Sachs Group Inc. and on the U.S. bailout of American International Group Inc.

The Bloomberg piece offers a complete rundown of Pittman’s career.

It’s a shame that we’ve lost a courageous reporter at such a young age.  There are so few real investigative reporters still around.

REST IN PEACE and Godspeed, Mark Pittman.

Yuan on the Way to Becoming an Alternative Reserve Currency & Obama’s Off to China to INSIST That the Chinese Play Nice

~~By InsightAnalytical-GRL

OK, here we go again, in all likelihood, with another big blast of hot air from Barack Obama.

Reuters, like the AP, doesn’t appreciate quoting from their articles.  So, for details follow the link from 11/10/2009:

World Bank: yuan to become alternative reserve currency

Let’s summarize.  Former Bush Adminstration biggie Robert Zoellick who has moved on to become President of the World Bank thinks the dollar as a reserve currency is “relatively secure” but the Chinese yuan is going to become an alternative to the greenback. Zoellick muses that it might take 10-15 years and that we shouldn’t be “complacent” about the dollar.

As if anybody these days is complacent???  And, don’t you think that these comments just confirm the actions of Ben Bernanke and the Fed that are allowing the dollar fall?

Ah, but according to the Telegraph (U.K):

Barack Obama pledges to tackle Beijing on yuan

President Obama, who, since taking office in January, has resisted branding the Chinese government as currency manipulators, promised to discuss the thorny issue of the yuan, and whether it is undervalued, as part of a visit to Shanghai and Beijing.

“Currency, along with a host of other issues, will come up, and I’m confident that both the United States and China can arrive at a broad set of policies that encourages trade that benefits both countries, that allows ongoing economic growth,” said Mr Obama.

snip

But Mr Obama will have to tread carefully as the Chinese government owns almost $800bn (£477bn) of US Treasuries, its largest foreign creditor.

Earlier in the day, the Chinese premier, Wen Jiabao, urged the US to “effectively discharge its responsibilities” and “maintain an appropriate size” to its budget deficit.

Yup.

A couple of days ago on CNBC, PIMCO’s Bill Gross made this point (see minute 4:30 on the video titled America Still Number 1?:)

Gross notes that over the last year alone the depreciating dollar means that every single Treasury purchased by China, Japan etc with a 1 to 2 % yield has essentially generated a negative 13 to 14% return. Yes, NEGATIVE 13 to 14% return.

Yeah, I guess Obama will HAVE to tread carefully.  China owns us and is not happy, especially about that negative return…

If you read our previous post Globalization/U.S. Decline Right on Schedule Courtesy Obama Backdown…Summer 2010 Projected Completion of Integration of NAFTA with EU to Counter BRIC/ASEAN Bloc, you’ll see an example of Obama’s big talk and big backdown type of leadership.

And, on this currency issue, Obama supporters are urging The Chosen One to live up to his campaign promise:

Yuan Critics Want Obama to Keep Campaign Promise

At the time, Obama said that he would “”insist that China stop manipulating its currency because it’s not fair to American manufacturers, it’s not fair to you and we are going to change it when I am president of the United States of America.”

I can’t wait to see this unfold over the next few days as the Obama crowd hits Beijing…I’ll be looking for the “insisting” part of the trip…

The Past Week: August 2-8, 2009 (Detroit’s Middle Class Faces Hunger; Accelerating Bank Failures; Eustace Mullins/FOEM’s Site)

~~By InsightAnalytical-GRL

I’ve been bogged down all week. And yesterday I spent 3 hours online for a seminar involving financial cycles.  Plus, I’ve been working a on meandering piece that will go up next week and have a few more things I’m working on.

But, here are a couple of tidbits that I ran across this week:

First, the middle class is starting to feel the pangs of hunge. CNN coughed up the story:

Hunger hits Detroit’s middle class

snip

In this recession-racked town, the lack of food is a serious problem. It’s a theme that comes up again and again in conversations in Detroit. There isn’t a single major chain supermarket in the city, forcing residents to buy food from corner stores. Often less healthy and more expensive food.

As the area’s economy worsens –unemployment was over 16% in July — food stamp applications and pantry visits have surged.

I know there’s been talk about reclaiming blighted urban lands in places like Flint, MI and turning it back to a natural state and for food production. Apparently, the good citizens of Detroit aren’t waiting around for that as urban gardens are springing up on abandoned property.

Detroiters have responded to this crisis. Huge amounts of vacant land has led to a resurgence in urban farming. Volunteers at local food pantries have also increased.

But the food crunch is intensifying, and spreading to people not used to dealing with hunger. As middle class workers lose their jobs, the same folks that used to donate to soup kitchens and pantries have become their fastest growing set of recipients.

more

What will they do in the winter when the gardens die?

***

Wonder how the banks are really doing?  Here’s a view of reality from Jeff Nielson’s Instablog:

Accelerating U.S. bank-failures refute “recovery” hype

With 69 failed banks already this year, bank failures are already on course to exceed the number of failures in 2008 by 400%. However, if they continue accelerating, that increase could easily rise to 500% or 600%.

Meanwhile, despite raising the size of its bribes to take over these failed companies, the FDIC is seeing less bidders step up to bid on these companies. It’s “insurance fund” will be nearly completely exhausted when the pending failure of Texas-based Guaranty Bank takes place – forcing it to tap into a $200 billion “line of credit” from the insolvent U.S. Treasury. Does this sound like an economy which is “recovering”?

He continues with a good overview of housing, consumer credit, business credit, and the bailout as a whole.  It won’t make you happy…

***

I’ve added a new link to the Financial blog roll–a wealth of information here!!

DollarDaze

***

Finally, a while back American Lassie wrote a post on Eustace Mullins titled Eustace Mullins’ “Secrets of the Federal Reserve”: Read About what Ezra Pound Called “The Great Betrayal”. We had a comment this week that led us back to FOEM’S Site (Friends of Eustace Mullins Society). There are recent pictures of the man himself; he’s alive and kicking!

THE PAST WEEK

Forget the Mainstream Media “Business Analysts”: Economics Prof Explains Obamanomics and Conducts Experiment That Proves His Point

The Past Week: July 26-August 1, 2009 (Inflation vs. Deflation; CNBC Ratings Plunging; Wind Turbines; Perpetuum Jazzile and Simulated Rain)

China, the Treasury, and Real Estate (As in the New World Trade Center); Cross-Pollination:The New America Foundation/Council of Foreign Relations

Editor’s Note: Last week’s post, Russia-China Proposals; “Rebalancing” Global Currency Reserves: Why the U.S. Can’t Take Anything for Granted Re: the Dollar, inspired American Lassie to develop a few observations/opinions:

~~By American Lassie

China won’t be buying any more Treasury Bonds, for a while at least, because the yield is too low. Not enough bang for the buck. The Federal Reserve has been buying Treasury Bonds like a drunken sailor for a reason. To keep the yield low. They don’t want China to buy any more bonds, IMO. China has too great a strangle hold on America as it is. Bernanke and Geithner don’t want the people of America to buy bonds right now, another reason for keeping the yield low.

It is my opinion, and many people will differ with me on this, that Geithner and Bernanke want Americans to invest in stocks to help bolster Wall Street and the banks, and to buy, buy, buy durable goods to help move the economy along.

The plan being that if the banks are strengthened and do what they have been given all this bail-out money to do, they will lend more freely to make it possible for the people to buy these durable goods– cars, washing machines, refrigerators, household furniture, etc.  If they free up the money needed by business to continue producing these goods, there might be a slim chance that this thing could turn around. But if the banks continue to put the bail-out money where they have been putting it, it will be the same old same old.

It stands to reason that Americans won’t buy Treasury Bonds with such a low yield, especially when they have so little faith in their government.

***

China may not be in the market for any more Treasury Bonds because of the low yield, or the fear that the large investment they already have in the notes is losing their vallue. But this hasn’t prevented their continued buying and leasing of U.S. real estate.

The Vantone Industrial Co., Ltd, a Chinese real estate group has just become the first commercial tenant of the still under construction skyscraper to replace the Twin Towers destroyed on 9/11.

They have taken a 20-year lease on the top floors of the 70 floor building to begin when the building is completed. It is projected to be completed in 2013.

The floors 64 through 69 will be known as the China Center. Wonder what the 70th floor penthouse will be used for? Any guesses?

Vantone Industrial provided the Port Authority with a $10 million dollar letter of credit. What goes on here?

No more Treasury notes, but a real estate coompany establishing itself in the new trade center. This is indeed food for thought. Know thine enemy. Our intelligence people had better be on hand constantly while that 70th floor is under construction, and after, IMO.

Our government notes aren’t so valuable right now, but the soil of the United States is still coveted by many. What better way to keep your ears peeled than to set up shop on the top floors of the tallest building in the city.

http://www.costar.com/News/Article.aspx?…&ref=1&src=rss

***

Regarding the 1st Bernard Schwartz Economic Policy Symposium sponsored by the New America Foundation (See this post for more details: A Reminder: Live Streaming of the First “Bernard L. Schwartz Economic Policy Symposium” Today (3/26) With a Rather Interesting Group & Agenda [To End “Fumbling” on Economic Policy]):

It’s important to note: “The Honorable Laura Tyson holds the Chair in Global Management and Public Policy, at the Haass School of Business at the U of C at Berkley.” (Haas being Richard Haass, the President of  The Council on Foreign Relations [CFR].)

I will point you to an article, (that I was saving with other research for a possible post), that I think you will want to read. It’s a short article but it is very informative.

http://www.crossroad.to/Quotes/globalism/2008/trends.htm

Let’s take a closer look at THE NEW AMERICA FOUNDATION…

On the matter of the “New America Foundation,” don’t get your hopes up people because this is nothing new.  It’s like the message we used to get continuously during the commercials in the old time soap operas.  “Duz does everything”- “New and Improved” – “Better than Ever”, the blurbs go on and on, but we still got the same old soap only in a different box.  The primary drivers in this group are the same re-cycled Democrats who brought you Hopey Changey politics this past election cycle.

LAURA TYSON, the Chair of Global Management and Public Policy, Haass School of Business, Univ. of Calif. at Berkeley, has an impressive resume and there is no doubt that she is an extremely intelligent economist who need not take a back seat to anyone in her field. She was top economic advisor to former President Bill Clinton.  She was head of the National Economic Council and Chair of the President’s Council of Economic Advisors. In fact, her skill and expertise, in my opinion, played a major part in the financial surplus that Bill Clinton left to the American people when he left office.

I admire Laura Tyson greatly as an economist, but the fact that she is a member of The Council on Foreign Relations (CFR) as are the people with whom she associates, disturbs me more than a little. Her association with Richard Haas, President of the CFR bothers me a lot.

The following was written on April 2, 1997 by Fernando Quintero, a reporter for the Rocky Mountain News in Colorado. Mr. Quintero spent a number of years working in higher education. He was a writer and editor for the University of California at Berkeley Office of Public Affairs.

“Over the past four years nearly a quarter of the University’s (U of Calif. at Berkeley) economics faculty at the Business School and the College of Letters and Sciences has taken leave to go to Washington.  No other university outside the Ivy League  has provided the White House with so much economic brain power.”

-snip-

The fact is, a Berkeley Mafia does exist and Tyson is the Godmother.”
http://www.berkeley.edu/news/berkeleyan/1997/0402/tyson.html

BERNARD SCHWARTZ, along with Tyson, is also a member of The Council on Foreign Relations. He is chairman and CEO of BLS Investments, LLC. His concern over our deteriorating infrastructure is legitimate.  This has been his baby for a long time, but as in the case of Tyson his connections are to be questioned.  Mr Schwartz is a very benevolent donor to the Democratic Party.

GEORGE SOROS is another member of the “New America Foundation”.  Mr Soros is a leading figure in the CFR and close with Henry Kissinger (who once made the statement that Jimmy Carter isn’t the President of the United States, the Trilateralist Commission is, and I am the Trilateralist Commission). Soros is also a confidante of Zbigniew Brzezinski and George Soros is also a partner in the Carlyle Group.  He is truly a busy and involved individual.

“The Carlyle Group specializes in seizing control of aerospace and defense contractors and then strong-arming contracts out of the Department of Defense.”

-snip-

“Shortly after September 11, George Soros developed a strategy how to manipulate messages within the media.”…
http://911review.org/Sept11Wiki/CarlyleGroup.shtml
http://911review.org/Sept11Wiki/Soros,George.shtml

It is my personal opinion that George Soros is a very evil man, and anything he touches smells of fire and brimstone.  This nefarious creature has caused untold damage not only to the United States of America, but to other countries.  He is evil personified and he does not wish well for our country and any group that he is connected with, in my opinion, is just as dirty as he is.

I love my country very much, my ancestors fought and died for this country, and to see this foreign-born billionaire, who was able to come to this country and make a fabulous fortune and then turn around and try to ruin us, makes my blood boil.  He is  one of the main players in the quest to level this country to third world status enabling himself and his cohorts to pronounce a New World Order.  He recently said something to the effect that this crisis has satisfied his life’s ambition.  What kind of devil makes it his life’s ambition to see people out of work, losing their homes, going hungry etc.?  Old Beelzebub must be down there dancing a jig.

“COUNCIL ON FOREIGN RELATIONS, a U.S. think tank.  Some CFR critics say the Korean War, the Vietnam War and the Civil Rights movement were all arranged and approved by the CFR and the insiders.  And that each one has played on a kind of reverse psychology:
The more societal unrest there is , the more people will turn (sic) its govenment for control, eventually becoming so desperate for order that they grant their government more and more power over every citizen’s private life.”

-snip-

“Some of their directors hold important positions in many other worldwide connected companies or government related institutions:  John Deutch, Richard Holbrooke, Theodore Sorenson, George Soros, or David Rockefeller.”
http://911review.org/Sept11Wiki/Cfr.shtml

So you can readily see why I think the New America Foundation is nothing more than the CFR.  New and improved?  Not at all.  This is the same old bunch with the same old ambitions.  Just using a new package to try to fool us old dumb citizens who they think will swallow anything.  Not anymore, Buster.  The cataracts are off our eyes and the wax is out of our ears and we have a steel rod up our spines and we say to you – fool me once, shame on you – fool me twice, shame on me.

No sale,  Mr. Soros and Ms. Tyson. Money is so tight right now that I’m mighty particular what I spend it on and your lying, treacherous words don’t fit into my budget.  Take your global philosophy and eat it– I’m not buying and I’ll bet no other thinking and reading American will either.