Greed, speculation, nations spending more than they have and stupidity have put the whole world in danger of an economic Armageddon. Some of what is going on and is about to happen can be found in the link below. The world bankers are now putting their fingers in dikes to plug the leaks but they may soon run out of fingers.

The global economy is at the point of maximum danger - Telegraph

It feels like the summer of 1931. The world’s two biggest financial institutions have had a heart attack. The global currency system is breaking down. The policy doctrines that got us into this mess are bankrupt. No world leader seems able to discern the problem, let alone forge a solution.

The coalitions in Belgium and Austria have just collapsed. Germany’s left-right team is fraying. One German banker told me that the doctrines of “left Nazism” (Otto Strasser’s group, purged by Hitler) had captured the rising Die Linke party. The Social Democrats are picking up its themes to protect their flank.

This is the healthy part of Europe. Further south, we are not far away from civic protest. BNP Paribas has just issued a hurricane alert for Spain.

Finance minister Pedro Solbes said Spain is facing the “most complex” economic crisis in its history. Actually, it is very simple. The country was lulled into a trap by giveaway interest rates of 2pc under EMU, leading to a current account deficit of 10pc of GDP.

China, India, East Europe and emerging Asia have all stolen growth from the future by condoning credit excess. To varying degrees, they are now being forced to pay back their own “inter-temporal overdrafts”.

If we are lucky, America will start to stabilise before Asia goes down. Should our leaders mismanage affairs, almost every part of the global system will go down together. Then we are in trouble.

This article tells how Al Gore used his political power to channel money to spread his global warming apocalyptic lies in order to transform society to his socialist vision of world governance through “enlightened” people like himself. Gore is one of the top con artists of our time who uses peoples fears and peoples greed for money and power. Al Gore especially likes to scare children and the gullible to create a sense of panic. His real agenda is leftist fascist eco-extremism. You probably have about one year to prick this gas bag or laws will already be set in place to eventually tax, control and regulate everyone and every product on earth.

FrontPage Magazine

“Cynical politics” may be a redundancy, but it is hard to imagine a more cynical political issue than global warming (GW). In his 1992 book Earth in the Balance, Al Gore called for a “wrenching transformation of society.” Leftists, with their elitist penchant for social engineering, didn’t need any convincing. The challenge for Gore was the inconvenient truth that, in a democracy, a would-be central planner needs to get the masses on his side, too. To do that, he borrowed a strategy encapsulated in H.L. Mencken’s statement, “The whole aim of practical politics is to keep the populace alarmed by menacing it with an endless series of hobgoblins, all of them imaginary.” Apocalyptic GW became Al Gore’s hobgoblin of choice.

Gore needed the scientific community to back up his assertions and the media to spread the word. Enlisting the help of the media was easy (apocalyptic fantasies are sure ratings winners), but getting enough scientists on board was trickier. When Gore started his GW campaign in the early 1990s, a contemporary Gallup poll of scientists showed that only 18 percent thought there was any evidence to support Gore’s theory. Even a survey conducted by Greenpeace found only 13 percent of climatologists willing to declare GW “probable.”

Nevertheless, Gore repeatedly claimed that (literally) 98 percent of scientists agreed with him, and he exhorted reporters to ignore skeptics. Right from the outset, the GW cult (like other illiberal movements, such as communism and fascism) had to resort to the “big lie” technique to make it appear that the science of GW was settled.

Kyoto’s agenda wasn’t to save the world, but to shackle economic activity in this country through curbing energy consumption. It’s easy to understand why foreign economic competitors would want this, but why would Gore and American liberals want to do this to the American people? The answer is simple: the lust for power and importance. Remember: control energy and you control people.

Crooked greedy Dentists are a much worse problem then suggested in this article. Those that are bilking Medicaid are also bilking cash paying and insurance paying customers. When you go in for a cleaning they tell you need fillings. Often you do not. When you go in for a filling they tell you need a root canal and a crown. Often you do not. Who checks the honesty of their diagnoses? Until we get proper dental oversight I suggest that everyone get a second opinion before you let anyone do work on your teeth. You would not believe how many slime balls are in your mouth.

Dentists who prey on children

I don’t know about you, but just mentioning the word dentist makes my stomach churn. The sound of a dentist’s drill sends shivers down my spine. One of the most frightening lines in the English language is: “You need a root canal.”

As if we needed another reason to hate dentists, did you know that some dentists intentionally perform unnecessary dental work just to be able to bilk the government?

It gets worse. These same dentists have removed good teeth of poor children just to increase billings to Medicaid. I wish I could tell you this was the plot of a horror film, but this grotesque form of fraud is happening in real life.

I have been hearing that there is no reason to pump more oil for some time now. If plenty of oil is being pumped but everyone is cutting back because of the price where is the oil? You can only store so much oil and then you would have to stop pumping but no one is doing that so obviously greed is the reason that OPEC does not want to increase production. They are lying through their teeth.

I would be past asking OPEC and Saudi Arabia to pump more oil. Its time the world told them they will pump more oil until the price gets down to around $50 a barrel or OPEC is going to be internationally outlawed as the criminal cartel it is.

OPEC is bring the world to an economic crises point and if the big powers don’t do something rather quickly it is going to be too late.

I have a suggestion. Everyone should open up their national oil reserves right now and at the same time the U.S. should take care of the Iranian nuclear and military threat. After this threat is out of the way there will be no future oil speculation because of the Iranian threat. Then we should go all out to help Iraq gear up their oil producing capability and also tell Saudi Arabia that they will fill the gap or they risk dire consequences.

OPEC sees no need to pump more after price surge | Reuters

DUBAI (Reuters) - OPEC members saw no need on Sunday to pump more oil in response to last week’s double-digit surge in oil prices to over $139 a barrel that top exporter Saudi Arabia described as unjustified.

Top oil exporter Saudi Arabia is the only OPEC member with capacity to boost output quickly and significantly.

But Saudi Oil Minister Ali al-Naimi and his Pakistani counterpart met on Sunday and agreed that the price rise was unjustified and unrelated to market fundamentals, the official Saudi Press Agency reported.

“The increase of the oil prices is becoming a real threat to the worldwide economy,” Germany’s Economy Minister Michael Glos told Reuters.

$150 OIL?

OPEC blames factors beyond its control, including speculation and international political tension, for the price rises. Those factors could take prices even higher soon, said Iran’s OPEC representative Muhammad Ali Khatibi.

“I forecast that by the end of summer the price of oil will reach $150 a barrel,” Mohammad Ali Khatibi was quoted as saying by Iran’s state broadcaster.

If Mexico does not win this battle on drug trafficking we will end up with a hostile nation on our south border. Then we will be forced to send our military to defend our south border. The first thing we need to do is to start posting that anyone crossing into the U.S. illegally from Mexico is subject to deadly force and give our border patrol the weapons, technology and the backing to carry out that policy.

I don’t care what some are saying about the danger this would bring to the innocent illegals that are only coming across to make a living. They are only coming across now because they know they can. Besides, they are already in great danger by those who smuggle them like cattle along with their drugs - hundreds die each year. Common people in Mexico will soon get the message that you do not cross into the U.S illegally if we truly enforce our borders.

How do Liberal “compassionate” supporters of illegal entry rationalize that this policy is causing thousands of deaths and lawlessness in Mexico? Not to mention that drug running across our south border helps to kill many thousands of Americans and ruin the lives of millions through drug addiction. Is that compassion? Sometimes you need tough laws to protect people from the greedy predators of the world.

They say if we tighten up enforcement of our borders some poor workers might get killed but they totally ignore the fact that many thousands are being killed and that whole nations are being subverted by drug cartels.

Sometimes you have to fight to protect a civil society. Do sane people want drug cartels running Mexico? I assure you it will not have a good outcome. Now is the time to put pressure on our own government to join forces with President Calderon to ruthlessly crush the drug cartels. We also need to crush drug gangs in our own nation that have virtually taken over our inner cities. Now please don’t talk to me about the gang’s civil rights when the civil rights of millions of city dwellers have already been taken away by the gangs.

New Mexican ‘revolución’ crosses border, infects U.S.

In the 18 months since President Felipe Calderon took office vowing to defeat the cartels, the Mexican army, increasingly equipped with modern American-made arms, vehicles and communication, has been deployed across the country in a running battle against the cartels. The death toll is rising. The cartels have executed more than 4,000 people: judges, police chiefs and officers, mayors, military commanders and rival gang members, in a continuing battle over control of territory, particularly in the states of Chihuahua, Sinaloa and Durango. Portions of the Mexican army have been compromised, and many Mexican soldiers are now cartel enforcers.

The danger now is that revenue from smuggling is so great that cartels can not only bribe officials to get their way, but they can permanently buy off (or kill off) key army, government, political and media figures, rendering Mexico a state dominated by the cartels. Things can get much worse in Mexico than they are today. And that means, things can get much worse for America, too. President Calderon deserves U.S. support as he fights the smuggling cartels for control of Mexico

What our government allows some countries to get away with in the name of free trade is demented, it is criminal.
Do we have traders or traitors running our foreign trade policy?

Time to get tough with China on trade

The Bush administration has abysmally mismanaged U.S. trade policy. We hope that the next administration learns from its mistakes. President Bush’s solution to the worsening U.S. trade deficit with China was (drum roll please) talk. That’s right. His strategy was talk, talk, talk; journalists call it “jawboning.” In December 2006, President Bush sent our government’s top five financial leaders to China to convince the Chinese to mend their ways and allow the yuan to
appreciate against the dollar. But, in 2007 our trade deficit with China worsened yet again to $252 billion from $229 billion the previous year. Talking loudly while carrying no stick doesn’t work.

People are about to reap what they let the eco-nitwits start. The question that will be asked too late is why did most of the world support the nitwits junk science solutions to fix a non existent global warming problem? If people continue to allow themselves to be brainwashed and managed by these silly nitwit eco-loons, elitists and control freaks they will reap very negative consequences.

People need to teach themselves how to think for themselves and not just parrot and agree with everything they hear from the nitwits in the elitist controlled media.

FOXNews.com - Junk Science: A New ‘Green’ Body Count Begins - Opinion

Food riots caused by rising food prices have erupted around the world. Five people died in uprisings in Haiti, perhaps the first of many casualties to come from the fad of being “green.”

Food riots also broke out in Egypt, Cameroon, Ivory Coast, Senegal and Ethiopia. The military is being deployed in Pakistan and Thailand to protect fields and warehouses. Higher energy costs and policies promoting the use of biofuels such as ethanol are being blamed.

“When millions of people are going hungry, it’s a crime against humanity that food should be diverted to biofuels,” an Indian government official told the Wall Street Journal. Turkey’s finance minister labeled the use of biofuels as “appalling,” according to the paper.

Biofuels have turned out to be a lose-lose-lose proposition. Once touted by the greens and the biofuel industry as being able to reduce the demand for oil and lower greenhouse gas emissions, biofuels have accomplished neither goal and have no prospect for accomplishing either in the foreseeable future.

The world has an ever-growing population that needs more and more energy, but the greens are doing everything they can to constrict the world’s energy supply.

As the Sierra Club campaigns to shut down our coal-fired electricity capabilities, the Natural Resources Defense Council campaigns to prevent nuclear power from taking its place. The demise of coal-fired power and the blockage of increased nuclear power will increase the demand for supply constraints on, and the prices for, natural gas.

But then again, environmental advocacy group Earth First perhaps is helping to alleviate the looming natural gas crisis by campaigning against power plants that use the fuel. In a recent campaign against a South Florida power plant, an Earth First campaigner stated that the environment ought not be threatened “so that people can fuel their greedy energy desires.” “Just say ‘no’ to electricity,” seems to be the bottom line of eco-think.

Every so often I read the daily news and I just get feed up with the inept leaders that are running this world. They do not seem to have a collective grain of wisdom between them.

Today we read that wholesale prices are up 1.1 percent in one month! Oil is at $113 a barrel and rising and food prices have gone up so much that people in poor countries are in danger of starvation.

Now who were the idiots that suggested we make grains into alcohol to run cars? I recall that Bush signed a piece of nutty legislation that will make 20 percent of our liquid fuel alcohol. The EU and other countries are also converting grains to alcohol. Meanwhile, people in poor countries are going hungry and are in danger of starving. Great thinking guys! With leadership and thinking like that you must of slept through your education classes and especially through your leadership training. These nutty polices must be reversed now!

I know the hype coming from Al Gore, had something to do with these government polices and that is why I say Al Gore is the most dangerous man in the world. Those that follow his leading will in the end bring starvation to millions.

Since you world leaders are clueless let me tell you the solutions?

1. Stop converting grains to make alcohol to run in cars. It was never needed. It is inefficient and the world does not have food to burn! Will this increase demand on oil? Not much. Any oil shortfalls can be taken care of quite easily as I will outline below.

2. Stop paying over $100 a barrel for oil to these vultures. I would not pay more than $50. How do we do that? First we DISBAND OPEC by world or U.S. decree. It is an illegal monopoly. If anyone whats to argue about it, that is why our taxes pay for all our aircraft carrier task forces. They were built to protect us from foreign enemies. If anyone thinks paying these extortion rates for oil (from wells that we developed in the Middle East) are not a huge danger to our country they are not living in reality. By the way, “our friend” Saudi Arabia alone could pump enough additional oil to bring the world oil prices down significantly.

3. Cut through the environmental red tape and allow for oil drilling off our coasts and in Alaska. There is significant oil there. All oil companies during this national emergency should be required to reinvest most profits into new energy production until balanced energy levels are achieved.

4. Vastly expand coal production and scrap all the restrictions put on new coal plants because of the global waring nonsense. We could make liquid fuel out of coal slurry for our cars and also use coal generating plants for spare electric generation at night for charging electric cars.

5. Build some damn refineries. Not one has been built in 30 years in this country mostly due to asinine environmental regulations. Meanwhile stop the insane laws that required scores of different types of fuel and fuel additives that adds to the costs and creates spot fuel shortages. Let the refineries we have produce 5 or 6 different major fuels and not be required to make 50.

6. Stop this crazy oil speculation in the markets. They are adding a third to the price of oil and they add nothing to our economy other than gambling. It can be stopped.

7. Government Incentives for mass production of reasonable priced electric cars for city commuting.

8. A major national project to develop solar energy production. They are doing it in Israel, we can certainly do it here. Solar energy at less then 10C a KW hour is easily achievable in the Southwestern deserts with today’s technology. The above ground land area in the Nevada Nuclear Test Site alone could produce much of the electricity needs for this country at reasonable rates.

Contact your representatives in Washington and demand action.

Your 100 percent correct. I wrote that insurance was the main problem with medical costs two years ago in this article. Medical costs could be reduced at least a third if you got rid of the insurance Mafia.

The Health Insurance Mafia - WSJ.com

Physicians and other providers need to liberate themselves from the Faustian bargain they’ve cut with the Mephistophelian suits who now run their professional lives. Because many doctors are loath to talk about money, they allowed themselves to perpetuate the fantasy that “insurance is paying.” It isn’t. There is no free lunch and no free physical exam.

If substantial numbers of health-care providers shook off the insurance monkey on their back, en masse, and the supply of providers was substantially increased by opening more medical schools, the result would be a more honest, cost-effective system benefiting everyone. Except the insurance companies.

They have no scientific facts to support the Left driven Co2 warming hysteria. They will not accept scientific facts when it is presented to them. So perhaps the next step is to exposed the real reasons for this fraud on the world. When the truth is exposed these blackbirds will be put in cages. Then all the pigeons following them will fly away looking for new refuse piles to scavenge.

American Thinker: The slick trick behind global frauding

In Stalin’s Russia any dissenter from the Party Line was guilty. Innocence had to be proved. It’s a standard tyrant’s trick. During the reign of Oliver Cromwell in England, witchhunters did not have to prove that their victims were guilty. The accused witches had to prove their innocence.

That’s what Al Gore has done to science: He and his friends have flipped innocence and guilt from normal science to Stalinist science.

In Al Gore’s America, any “global warming denier” is guilty until proven innocent. He or she must have been bought off by Big Oil. Skeptics, no matter how well-qualified, must prove the negative about really silly alarmist hogwash. And whenever some prediction is falsified, the warm mongers have an explanation: it’s just a temporary glitch in the data. Oh, yes, we were wrong about 1998, but just wait till 2050! The excuses are endless.

There are no facts robust enough, consistent enough, and verified enough to support the mass hysteria. The climate system is hypercomplex, nonlinear and poorly understood. The media spinners are immensely ignorant about real science, and just care about the next scare headline. There’s a lot of wild speculation and a mob of self-serving politicians, bureaucrats and media types who stand to gain a ton of power and money by suckering millions of taxpayers. Al Gore just started a 300 million dollar PR campaign to convince everybody. When was the last time you saw 300 million bucks being spent to promote a scientific hypothesis that was already proven? We’re not spending millions to prove the existence of gravity. The uproar and money involved in this fraud is in direct proportion to the lack of solid facts.

The last ten years have seen global cooling, not warming.

This author makes the case for the Fed’s bailouts but he also makes it clear just how close we are to another great depression.

What is not talked about is the greed that got us into this mess. The Fed can try to bail out this sinking ship but even if it does temporarily keep it afloat it cannot stop the ship’s rotten timbers from leaking like a sieve. The ship will take on more water when the next tempest hits.

There are over $400 trillion in derivatives out there backed by almost nothing. If the banks and brokerages have to come up with real money to cover losses on this gambling debt there is not enough money in the world to stop the economic collapse.

For decades the banks and brokerages have been living like fat cats off of a derivative pyramid scheme making bets of 100 to 1 that property would continue to increase in value. They paid out high dividends on their gambling winnings and left nothing in the bank to cover future losses. Now this author suggests that as property values drop and these gamblers cannot cover their own losses that the Fed should cover their losses until property values start going up again. Maybe that is the only solution to keep out out of a great depression but of course if they know that taxpayers will bail them out when they are on a losing streak they will even be more reckless with their gambling in the future.

The Fed may have to do so much bailing out by creating more and more dollars that it will make hyper-inflation certain. That inflation could have the same financial impact on individual Americans as would any depression.

The truth is that almost everyone in the Western world has been living for decades beyond their means and now the bills are coming due. The economic system is going to crash and only after most assets and debts are wiped out can a new system be set up. Let them try to keep the world financial ship afloat as long as they can with their bucket brigade bail outs but the storm always eventually comes and this rotten ship will go to the bottom.

Sooner Fed bail-outs than the 1930s revisited - Telegraph

The crisis has since spread to prime mortgages. Fannie Mae and Freddie Mac - the fortress agencies that guarantee 60 per cent of America’s $11 trillion mortgage market - began to crumble last week. Even bodies standing at the top of the credit system are no longer deemed safe. As Barclays Capital put it, this was a “tsunami event”.Or in the words of City veteran David Buik at Cantor Fitzgerald: “No one in living memory has ever seen a banking crisis like this. I am older than God, and the outlook has never looked as bleak.”

Any smug assumption that this will remain a local American affair may soon be confounded. The IMF has abruptly changed its tune. “Obviously the financial market crisis is now more serious and more global than a week ago,” it said on Monday.

Property booms will soon be deflating across the Anglo-Saxon world and the eurozone’s Club Med belt. Japan is already on the brink of recession. Debt levels are higher now in most rich countries than they were in 1929. The levels of financial leverage are greater.

As the Bank for International Settlements wrote last year, we are more vulnerable to a 1930s dénouement than people realise - should the authorities botch the response.

Like some other free-market bears, I now find myself in an odd position. For years we castigated the central banks for inflating a reckless credit bubble by holding interest rates too low. Now we have flipped. We are on the other side, defending monetary stimulus, even defending the state takeover of Bear Stearns debt.

I have been warning for quite a while that an economic collapse is coming. I do not think the bankers and politicians will be able to end this downturn with a wave of their magic wand even if they may be able to pull off that illusion for a short period until the greater reality hits.

America’s have been spending beyond their means for many decades and very greedy people have been gambling with all their investments. Now the chickens are coming home to roust and the financial house of cards is about to fall.

When unemployment starts rising and debts are not paid you will see a downward spiral begin that will either lead to a great depression or great government intervention bringing hyper-inflation. Either outcome will be tragic for most Americans.

Then Americans might realize that even this nation is not exempt from judgment. The next President whoever he or she may be, will be seen as a total failure. The President will be sitting over the start of an American disaster that could last into the foreseeable future.

Economic winter is on its way

All that two decades of frantic bailing out and bubble blowing has accomplished is to enrich a few fortunate investors and delay the inevitable while significantly jacking up the terrible price that Americans will ultimately pay. The business cycle can be influenced, but it cannot be eliminated. For every economic action, there will be an equal and opposite reaction, and since the financial house of cards has been built ever higher and ever more vulnerable during this decades-long period of delay, chances are very high that the collapse will be swifter and more brutal than even the economic pessimists can currently envision. This is far from a failure of the free markets; it is merely more evidence of the futility of central economic planning.If we are fortunate, it is only a long and hard economic winter that is approaching. If we are unfortunate, it is the financial Fimbulwinter that will precede a political Ragnarok.

The real horror story in world economic system is derivatives. It is a monetary gambling scheme using IOU’s backed by almost nothing. Those who buy derivatives are gambling and they use this phony paper wealth to create investment bubbles all over the worlds. Right now they are driving up commodities. When the derivative bubble bursts no government has anywhere near the resources to keep it from spiraling into financial Armageddon. it will bring the end of the world economic system. It is this bubble that keeps all the Federal bankers up nights. At some point this house of cards will crash the whole system.

Financial Armageddon: Not Plain Vanilla

In short, despite Buffett’s clear warnings, a massive new derivatives bubble is driving the domestic and global economies, a bubble that continues growing today parallel with the subprime-credit meltdown triggering a bear-recession.Data on the five-fold growth of derivatives to $516 trillion in five years comes from the most recent survey by the Bank of International Settlements, the world’s clearinghouse for central banks in Basel, Switzerland. The BIS is like the cashier’s window at a racetrack or casino, where you’d place a bet or cash in chips, except on a massive scale: BIS is where the U.S. settles trade imbalances with Saudi Arabia for all that oil we guzzle and gives China IOUs for the tainted drugs and lead-based toys we buy.

Those who believed this Moses deserve to be fleeced. You might ask how so many people in a small group of churches can be so stupid? The answer is they worship people who tell them what they want to hear. They have little biblical discernment but they do have greed.

‘Modern-day Moses’ faces jail for swindling churchgoers out of £3.2million | the Daily Mail

A “modern-day Moses” who fleeced churchgoers out of more than £3.2million faces jail today.Lindani Mangena, 24, preyed on more than 1,000 worshippers in Seventh Day Adventist congregations across London to feed his appetite for fine living.

Mangena posed as a City trader to convince them to invest in a bogus spread-betting formula.

Southwark Crown Court heard that, along with two accomplices, he promised profits of up to 3,000 per cent in six months.

No matter where the air on passenger Jets come from it is deadly. This pilot says the fifty percent of air that does not come from the cabin is full of neuro-toxins. However, the air that comes from the cabin is full of human germs. If you ever take a trip by air in the winter you are extremely lucky if you do not come down with someone else’s disease. If the public knew what they were breathing on airlines most would not be flying. They could fix the air problem on airlines but they would rather let you get sick than spend the money.

clipped from www.worldnetdaily.com Loranie said in today’s passenger jets, half of the cabin air is recirculated from the cabin itself, with only a filtration system to clean it up.”It’s the other 50 percent of cabin air, however, that is the problem, because it comes from deep within the engines that are flying the plane. Bled off from the engine – and, therefore, known as ‘bleed air’ – before the fuel is injected and burnt, bleed air is piped back to the fuselage where it is cooled down and then pumped into the cabin,” he said. “Crucially and extraordinarily, bleed air is not filtered at all,” he said. That leaves whatever chemicals and toxins it may have picked up in passing through the engine being pumped directly to pilots, flight crew members and passengers. He said airline industry leaders keep the level of toxicity a closely guarded secret.

This is what the insane policy to convert food into fuel for cars has brought the poor of Haiti. All they can afford to eat is dirt!  I would like to know why farmers now making twice as much on what they are growing cannot be donating something to charities to help feed these people? Where also are all the concerned greenies contributions when their own hype helps to create these real world crises?

clipped from www.breitbart.com Haiti (AP) - It was lunchtime in one of Haiti’s worst slums, and Charlene Dumas was eating mud. With food prices rising, Haiti’s poorest can’t afford even a daily plate of rice, and some take desperate measures to fill their bellies. Charlene, 16 with a 1-month-old son, has come to rely on a traditional Haitian remedy for hunger pangs: cookies made of dried yellow dirt from the country’s central plateau.

The writer of this article sees the latest actions in the credit crisis as a phony way. He says you have seen nothing yet, the real war is still coming

we may come to look at the period between July 2007 and January 2008 as a sort of phony war in the worldwide credit crisis, because although the market has fallen 15% since summer, there have been no defaults of key bonds or asset-backed securities. The curious lack of real blowups has led even seasoned observers to believe that fears were exaggerated and that chaos will be averted.

In reality, however, the skirmishes we’ve seen so far might be little more than a prelude to a deeper, harsher, longer decline than most yet perceive possible. And in a very postmodern twist, it is beginning to look like unexpected consequences of an investment instrument designed to mitigate risk could turn out to be the nuclear option that bombs the globe into the financial equivalent of World War III.

Full article

Things don’t always turn out the way some people think. Nevertheless, here is one assessment of the economy and the housing market that should make people stand up and take notice.

I think there are two many unknowns to make any accurate predictions of what is going to happen in the next months and years but it could get real ugly if the power brokers cannot control the situation.

clipped from www.dissidentvoice.org Many experts are now predicting that home prices will dip 30% by the end of 2008. That means that nearly 20 million homeowners will be “upside-down”, that is, they will owe more on their mortgage than the current value of the house. (Imagine owing $400,000 on a home that is currently worth $325,000!) 40% of all homeowners in the US will be upside-down by the end of next year. This is a grave systemic problem that will have widespread implications. Experts already know that when mortgage holders have “negative equity” they are much more inclined to put their keys in the mailbox and skip town. Hence, the name for this increasingly common practice — “jingle mail.” Secretary of the Treasury Henry Paulson is desperately trying to put together a national “rate freeze” to avoid, what could be, the most devastating surge of foreclosures the world has ever seen.

Jack Kinsella The Omega Letter put together a pretty good piece on the latest in the global warming “consensus” bull. After reading this all should understand that there is no consensus among scientists. All the consensus you hear about is from those who have their own greedy reasons for wanting you to believe that there is a consensus.

I keep wondering when the world leaders are going to get the message that real science is not buying into their global warming nonsense? How long will they go on with this junk science facade? Will some world leader finally stand up and renounce this nonsense and then will the dominoes start to fall? Or are they really going to keep on trying to deceive the world into spending trillions of dollars on a non existing problem without any scientific foundation? Do they actually think that with the Internet that the people will not eventually find out the truth? Do they think when this is found out that the people will not come down on them with a vengeance?

Look you lamebrains! If you must have a global crises to bring in your elitist global government at least come up with a credible world threat. If you need some suggestions I can give you some. You can even let Al Gore keep his Nobel prize. He earned it proving how even the stupidest deception can endanger the whole world if the lies are backed with big money.

‘Jobs Americans Won’t Do?’ - Dave Gibson - Nov 24, 07: “The greedy Peabody family has been able to pocket $7 million over the last few years because they have imported Third World slaves to work on their boats. They have basically eliminated their payroll. Unfortunately, they are not alone. Greedy employers all across this nation are hiring Latin American invaders to provide them with the kind of dirt cheap labor on which Americans simply cannot support their families. It is impossible for American workers to compete with Third World labor. Just as the White House and Congress have betrayed us, far too many U.S. businesses have done the same thing. The next time you hear someone (like John McCain) repeating the tired old line that ‘illegal immigrants only do the jobs that Americans won’t do’…Tell them that smells fishy!”

FOXNews.com - Junk Science: Food Nannies’ Halloween Cancer Scare - Opinion: “The latest food scare was announced, appropriately enough, on Halloween. But the science behind the scare is about as believable as are ghosts and goblins.”

“The vast majority of the results from individual studies between every type of food and every type of cancer cited in the report are either significantly below 100 percent and/or statistically insignificant. The relatively few cited risks that exceed 100 percent are typically not statistically significant or have wide margins of error.”

“In the end, the AICR report isn’t really science at all it’s more of bloody crime scene where science got violently mugged by hoods costumed as health and nutrition experts and wielding statistical pepper spray. In some ways, this shoddy science isn’t surprising when one considers that the AICR also pitches cranberry recipes and other culinary snake oil as a means of reducing cancer risk.
The AICR advocates against consuming fat, salt, sugar and alcohol– an agenda worth $37 million in charitable donations in 2006. So we shouldn’t be surprised when the food police issue a “report” advancing such a lucrative agenda.”

It seems that many of these “scientific” study conclusions are now being driven by those that fund them. If money is going to drive science like it does in health and global warming hype then those funding science will determine its conclusions. That means people with money will have a great tool to lie to everyone to further their own greedy agenda.

If you have not noticed, science has reversed itself often more than once on just about everything it ever said in the last 50 years. That ranges across the spectrum from how to raise children, how to brush your teach, what to spread on your bread, how much dust is on the moon, to climate science. The bottom line is take all these “scientific” studies with a grain of salt (pun intended).

Confronting Liberalism’s Elusive Causes and Effects - Christopher Adamo - Nov 01, 07: “The lights came on across Kansas as the sun set on the evening of October 18, 2007 which is, in the minds of most people, just as it should be. It might therefore be easy to conclude that the decision that day of the Kansas Department of Health and Environment to refuse a construction permit for a new coal fired electric power plant was a universally good one, spawning only happiness and positives for everyone, excepting of course those greedy industrialists who wanted to build the plant. “

Don’t worry, with the Democrats in charge we won’t need any more power plants. There will no jobs either. Just work camps and soup lines.

The $915 credit-card bomb in consumers’ wallets - Oct. 30, 2007: “(Fortune Magazine) — This past summer’s subprime meltdown involved about $900 billion in now-suspect securitized debt, reckless lending, and consumers who buckled under the weight of loans they couldn’t afford. Now another link in the consumer debt chain - credit cards - is starting to show signs of strain. And the fear that the $915 billion in U.S. credit card debt (an uncannily similar figure) may blow up has major financial institutions like Citigroup, American Express, and Bank of America strapping on their Kevlar vests. “

How do they think that many that have resetting mortgages will pay their Bills? They will pay with their credit cards. Many people are just moving their debt around like a game of musical chairs. When a recession hits or inflation takes off these lenders will all be looking for a bailout from the Government. Only thing, the government is broke and most taxpayers can’t afford to pay more tax . Want to see a real collapse of the dollar? Start printing money to bail all the greedy speculators that made all this insanity possible.

Homeowners hit as builders slash prices - BusinessWeek.com - MSNBC.com: “This is the first housing slump in which the industry has been big enough and well enough capitalized to even consider such extreme measures. And they are extreme. Margins, which ran as high as 35% at the peak of the housing boom, are close to nil when builders sell at fire-sale prices. If by doing so the builders can force the market to accept the reality that housing values have fallen–and accept it fast–there’s at least the possibility of emerging from the current bust sooner than in earlier down cycles. ‘The discounts depress the market, and that’s why we think home prices have got more to fall,’ says David Wyss, chief economist for Standard & Poor’s, which like BusinessWeek is owned by The McGraw-Hill Cos. ‘But rather than a prolonged bust, you take the pain up front.’ A fast recovery in the housing market wouldn’t just be a tonic for builders; it could also give a much needed boost to the overall economy.”

Now we see that these greedy builders were ripping people off with their huge 35 percent profit margins. They would demand these prices and they would not negotiate a lower price because they could get their inflated prices from greedy speculators who intended to flip the houses rather then live in them.

The profits were so great that everyone who worked in the construction industry for awhile started building their own homes. Now there is a glut of houses and the big builders are slashing their prices to near where they should have been in the first place and now they are screwing all homeowners who bought their houses at the inflated high prices that they demanded. They also have now killed the the small builders, they will now be forced out of business. That’s what the big builders really want besides not going bankrupt themselves.

I feel sorry for the innocent people in all this but I hope all those greedy builders and those that invested in them along with the speculators and the loan companies that financed them go bankrupt. The speculators and the loan companies also deserve what they will get.

With all their greedy profits the builder scoundrels would not even honor their warranties.

The people who actually had to buy a house and now see the value of their house fall have my blessing to just walk away from these houses and let the whole group of greedy slime balls eat cake. If you wait two or three years you will be able to buy the same house for half the price. If you can’t do that, there will be a huge glut of cut rate rentals available.