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Thread: Sky is falling again!
02-04-2010, 12:04 PM #307
02-04-2010, 12:38 PM #308
02-04-2010, 01:01 PM #309
Go Dow go! Only 40 more points to go...
02-05-2010, 07:01 AM #310
oh oh... here we go again... lots of people are going to loose their job if it continues... funny that lots of companies are reporting better than expected profits. Wonder where the money comes from. Tax payers?
02-05-2010, 11:01 AM #311
02-05-2010, 06:23 PM #312
rubbing salt into wounds... lol. well, lets hope it'll stay on top of 10000 mark.
02-06-2010, 02:52 AM #313
Guess what now?
Bosom bombers: Women have explosive breast implants
Authorities alarmed by possibility of surgically placed explosives
February 01, 2010
10:16 pm Eastern
© 2010 WorldNetDaily
LONDON Agents for Britain's MI5 intelligence service have discovered that Muslim doctors trained at some of Britain's leading teaching hospitals have returned to their own countries to fit surgical implants filled with explosives, according to a report from Joseph Farah's G2 Bulletin.
Women suicide bombers recruited by al-Qaida are known to have had the explosives inserted in their breasts under techniques similar to breast enhancing surgery. The lethal explosives usually PETN (pentaerythritol Tetrabitrate) are inserted during the operation inside the plastic shapes. The breast is then sewn up.
Similar surgery has been performed on male suicide bombers. In their cases, the explosives are inserted in the appendix area or in a buttock. Both are parts of the body that diabetics use to inject themselves with their prescribed drugs.
The discovery of these methods was made after the London-educated Nigerian Umar Farouk Abdulmutallab came close to blowing up an airliner on Christmas Day with explosives he had stuffed inside his underpants.
Keep in touch with the most important breaking news stories about critical developments around the globe with Joseph Farah's G2 Bulletin, the premium, online intelligence news source edited and published by the founder of WND.
Hours after he had failed, GCHQ Britain's worldwide eavesdropping "spy in the sky" agency began to pick up "chatter" emanating from Pakistan and Yemen that alerted MI5 to the creation of the lethal implants.
A hand-picked team was appointed by Jonathan Evans, the head of MI5, to investigate the threat. He described it as "one that can circumvent our defense."
Top surgeons who work in the National Health Service confirmed the feasibility of the explosive implants.
In a report to Evans, one said:
"Properly inserted the implant would be virtually impossible to detect by the usual airport scanning machines. You would need to subject a suspect to a sophisticated X-ray. Given that the explosive would be inserted in a sealed plastic sachet, and would be a small amount, would make it all the more impossible to spot it with the usual body scanner."
Explosive experts at Britain's Porton Down biological and chemical warfare research center told MI5 that a sachet containing as little as five ounces of PETN when activated would blow "a considerable hole" in an airline's skin which would guarantee it would crash.
Suicide bomber Iat Alacharas, 18
02-06-2010, 12:16 PM #314
02-06-2010, 12:17 PM #315
Life is Good for a Banker
02-06-2010, 01:31 PM #316
February 04, 2010
Obama: 'You tighten your belts' while we spend you into oblivion
At a high school in North Nashua, N.H, on Tuesday President Obama lectured the audience on some rather breathtaking insights concerning the values of self-restraint and self-discipline:
"When times are tough, you tighten your belts" said the President. "You don't go buying a boat when you can barely pay your mortgage. You don't blow a bunch of cash on Vegas when you're trying to save for college. You prioritize. You make tough choices."
Yet as Peter Ferrara notes today in his deeply disturbing American Spectator essay "Spending America Into Oblivion:"
"President Obama's own budget confesses that it would more than triple the national debt from $5.8 trillion at the end of 2008 to $18.6 trillion by 2020. Indeed, it would almost double the national debt in just four years from 2008, to $11.5 trillion in 2012. The budget also confesses that under President Obama's first three years, 2009-2011, the federal government will borrow over $4.2 trillion. As the Wall Street Journal reported last week, That is more than the entire accumulated national debt for the first 225 years of U.S. history.'"
So while Obama tells "you" about how to spend and prioritize your money, his budget promises to spend our money, and our children's money, making it doubly difficult to pay off America's exploding mortgage - thus ensuring more "tough" times for American families.
I guess this is part of the price America paid for electing a former college "Lecturer" to the White House.
02-09-2010, 03:54 AM #317
US bankers don't seem to have any shame
Updated on Feb 09, 2010
The credit meltdown in America has often been compared to the earlier savings and loan scandal. The comparison is inexact, but the contrast may be more revealing. Take, for example, the number of bankers jailed in the previous saga and the dearth of any in the latest crisis. More than 1,000 savings and loans officials were put behind bars between 1990 and 1995 for offences stemming directly from the debacle; hundreds more were jailed for related crimes.
Contrast that with the financial crisis, now more than 2-1/2 years old, and the wheels of US justice seem to be grinding excruciatingly slowly. The latest civil fraud charges, brought against Bank of America's former chief executive Ken Lewis and ex-chief finance officer Joe Price, will not result in jail sentences even if proved. They are noteworthy not only because of the men's seniority but because there have been so few of them. The two bankers are accused of misleading shareholders in 2008 about Merrill Lynch's losses and duping the federal government to secure US$20 billion in public funds, in order to cement the takeover.
We make no presumptions about their guilt or innocence. Both men, through their lawyers, have dismissed as baseless the allegations made by the New York attorney general. But looking at the larger financial landscape it is hard not to expect, in a crisis of such magnitude, that more top bankers will end their careers in legal trouble. Yet that does not seem to be the case at the moment.
To be sure, it may still be early in the day and more charges may result from dozens of official investigations that have been launched targeting Lehman Brothers, American Insurance Group, Freddie Mac, Fannie Mae, Washington Mutual and the like, not to mention lawsuits launched by individual investors.
In the recent downturn, Wall Street's recklessness and irresponsibility seems even greater than during the S&L crisis; and the scale of wealth destruction and loss of public trust is incomparably greater this time. What is different is the level of financial sophistication. The finances involved in the S&L saga were plain vanilla compared to the fiendish complexity of the derivative instruments devised during the recent credit bubble years.
Virtually all the key players in the industry were involved in this kind of "financial innovation", which has proved toxic. However, few prosecutors and regulators have the expertise to untangle these instruments, many of which were built to bypass legal restrictions without actually breaching the law. When the dust has settled it is likely that the most these clever bankers will be found guilty of is a lack of moral responsibility. Some may be fined but few are likely to go to jail.
In retrospect the S&L mess was easier to clean up, and the credibility of the financial system was restored relatively quickly. This was partly because public anger was appeased after so many finance officials were found guilty and seriously punished. Not so this time. Instead of bankers being put in the dock we see so many of them have already gone back to their old ways, being paid million-dollar bonuses as if nothing had happened. Many are fighting government attempts at financial reform. No wonder so many American voters are irate and taking their anger out on their government for bailing out the banks. A cleansing ritual, such as seeing those with a direct hand in causing the crisis punished, is unlikely to happen this time. As a result, bankers may long be despised and their profession mired in ill repute.
02-09-2010, 07:45 PM #318
Uh oh..Is it ON now between U.S. & China???..
..are BO and his Dems cohorts shaking in their boots?? what are they gonna do now???..
China PLA officers urge economic punch against U.S.
Tue Feb 9, 2010 12:00pm EST
BEIJING (Reuters) - Senior Chinese military officers have proposed that their country boost defense spending, adjust PLA deployments, and possibly sell some U.S. bonds to punish Washington for its latest round of arms sales to Taiwan.
The calls for broad retaliation over the planned U.S. weapons sales to the disputed island came from officers at China's National Defence University and Academy of Military Sciences, interviewed by Outlook Weekly, a Chinese-language magazine published by the official Xinhua news agency.
The interviews with Major Generals Zhu Chenghu and Luo Yuan and Senior Colonel Ke Chunqiao appeared in the issue published on Monday.
The People's Liberation Army (PLA) plays no role in setting policy for China's foreign exchange holdings. Officials in charge of that area have given no sign of any moves to sell U.S. Treasury bonds over the weapons sales, a move that could alarm markets and damage the value of China's own holdings.
While far from representing fixed government policy, the open demands for retaliation by the PLA officers underscored the domestic pressures on Beijing to deliver on its threats to punish the Obama administration over the arms sales.
"Our retaliation should not be restricted to merely military matters, and we should adopt a strategic package of counter-punches covering politics, military affairs, diplomacy and economics to treat both the symptoms and root cause of this disease," said Luo Yuan, a researcher at the Academy of Military Sciences.
"Just like two people rowing a boat, if the United States first throws the strokes into chaos, then so must we."
Luo said Beijing could "attack by oblique means and stealthy feints" to make its point in Washington.
"For example, we could sanction them using economic means, such as dumping some U.S. government bonds," Luo said.
The warnings from the PLA come after weeks of strains between Washington and Beijing, who have also been at odds over Internet controls and hacking, trade and currency quarrels, and President Barack Obama's planned meeting with the Dalai Lama, the exiled Tibetan leader reviled by China as a "separatist."
MILITARY SPENDING BOOST
Chinese has blasted the United States over the planned $6.4 billion arms package for Taiwan unveiled in late January, saying it will sanction U.S. firms that sell weapons to the self-ruled island that Beijing considers a breakaway province of China.
China is likely to unveil its official military budget for 2010 next month, when the Communist Party-controlled national parliament meets for its annual session.
The PLA officers suggested that budget should mirror China's ire toward Washington.
"Clearly propose that due to the threat in the Taiwan Sea, we are increasing military spending," said Luo.
Last year, the government set the official military budget at 480.7 billion yuan ($70.4 billion), a 14.9 percent rise on the one in 2008, continuing a nearly unbroken succession of double-digit increases over more than two decades.
The fresh U.S. arms sales threatened Chinese military installations on the mainland coast facing Taiwan, and "this gives us no choice but to increase defense spending and adjust (military) deployments," said Zhu Chenghu, a major general at China's National Defence University in Beijing.
In 2005, Zhu stirred controversy by suggesting China could use nuclear weapons if the United States intervened militarily in a conflict over Taiwan.
The United States switched official recognition from Taiwan to China in 1979. But the Taiwan Relations Act, passed the same year, guarantees Taiwan a continued supply of defensive weapons.
China has the world's biggest pile of foreign currency reserves, much of it held in U.S. treasury debt. China held $798.9 billion in U.S. Treasuries at end-October.
But any attempt to use that stake against Washington would probably maul the value of China's own dollar-denominated assets.
China has condemned previous arms sales, but has taken little action in response to them. But Luo said the country's growing strength meant that time has passed.
"China's attitude and actions over U.S. weapons sales to Taiwan will be increasingly tough," the magazine cited him as saying. "That is inevitable with rising national strength."
(Editing by Jeremy Laurence)
02-09-2010, 11:30 PM #319
US gov't wanted to devalue the USD anyway, now they can shift the blame of USD devaluation to china, woohoo! With a lower USD, US export is stimulated while making chinese imported goods more expensive, woohoo again.
02-10-2010, 10:34 AM #320
I am sorry to say this, we are beyond screwed at this point. Please read this article.
Here is my problem with what Fed is proposing to do.
1) Think of this example. How big bank took TARP make money? They take the TARP money at 0.5% interest and go out and buy US Treasury bond at 2.5%. They pocket 2% interest on 0 risk.
2) Now banks have enough money on the balance sheet (ie reserve) after making all these money from TARP. Now emergency is over, Fed is going to raise interest rate by increase the interest for banks reserve deposits in Fed. So, interest rating is going to go up. However, unless the reserve rate is higher than Treasury bond yield, me as bank, I am not going to deposit my reserve in Fed.
3) So, to compete with Treasury, the rate has to be as high, guess what, you just caused a price war. Uncle Sam need to borrow money to pay for all Broke OMama's spending spree. So, US gov is going to up the interest rate on the bond it issue. Oh, here comes the cycle of inflation.
4) Cost of the borrowing money for business will sky rocket. Guess what, Fed just killed US economy...
The end of the world is coming...
02-11-2010, 03:08 PM #321
Just something interesting.
We know that there are pigs and there are PIGS. Anyway, one of the member if PIGS is in trouble (Greece). Guess who's stock just lost about 1/4 of value in the last few weeks. AIG. I thought they have unwind all the CDS with the TARP money? If that is the case, the exposure for any of those debt (including UAE) should be min and not effecting the stock too much... Stay tune. Let's see what happen since Merkel jsut put her foot on the break on the bail out package for Greece...
Just like the snow in east cost, let it fall, let it fall let it fall...
02-11-2010, 03:56 PM #322
02-14-2010, 12:52 PM #323
Last edited by GrayDark; 02-14-2010 at 12:55 PM.
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