Like or Dislike: 0  0

The writing is on the wall “Economic Crisis” is deepening and recession will be much worse in 2009 around the world than what the pro Israeli main stream media and politicians are telling us. Israeli’s who control major banks in USA & Europe are responsible for current economic melt down around the world. They are the one who created dubious debt derivatives which can not be priced in the first place and now can not be traded in any part of the world. These debt derivatives represent around $345 trillion which is 9 times the world GDP. The conservative estimate is world Banks have already lost close to $2 trillion and the figure may touch $5 trillion by the end of 2009.

American Economic Policy Makers and Politicians for last 4 decades have been designing economic policies for Social Engineering for the benefit of Pro Israeli Elites controlling big Businesses rather than designing them for the benefit of its common citizens. In 1960’s they tried to end poverty through “Federal Spending” by giving funds to preferred institutions and individuals, in 70’s mantra was “Control on Money Supply” can solve every problem, in 80’s the buzz word was Tax incentives to incompetent businesses supporting corrupt politicians, in 90’s Alan Greenspan come up with a new mantra that by tinkering “Federal Reserve Interest Rates” one can have a robust sustainable long term growth along with tech bubble, Enron, real estate burst, banking scams and now comes another dacoit from Wall Street Treasury Secretary Henry Paulson with a Recipe made of tax payers money called “Bail out” for trillions to be given to his friends managing financial institutions who had lost rather stolen trillions from banks all over the world using American financial institutions.

We have entered a new era where no body trusts any body and financial institutions. These institutions have no credibility for a simple reason the Managers have not been punished for taking their companies in the gutters by loaning money to those who should not be given any loan in the first place. Neither the regulators have been punished for not supervising the Managers nor the Politicians have been punished for not punishing the regulators and Managers. Rather Managers are every day being rewarded by Henry Paulson and politicians from both sides of the isle with tax payer’s money using the same set of regulators as the Supervisors.

Americans have lost more than $10 trillion in collective house hold wealth and are scared to spend what ever is left even on basic things. They don’t see any hope and a Leader who can break the cozy relationship of Politicians and big businesses. The Banks are sitting on more than $800 billion reserves which is 60-70 times more then their usual reserves and still they are not lending. On top of this 80-90% of these reserves represent Bail out money given by these very tax payers who are being deprived of credit. Students are being loan sharked at 11% and consumers for basic goods at over 20%. CITI is still paying 14% dividend to its share holders despite getting bail out money and guarantees for over $350 billion. The reason for not lending could be these Banks have much larger bad debt exposures which they are keeping off their balance sheets. Politicians, Bankers and main stream Media does not want the common person to know about it.

Team Obama’s proposed $1 trillion stimulus package will prove a drop in the ocean. We will see after Banks & Auto Industry; Private Pension Funds, State Governments and host of other Industries asking for Bail Outs with Tax payer’s money. Obama’s contention that America ’s roads and bridges are crumbling and by spending on infra structure projects Economy can be revived is baloney. The value of every asset from Shares, Debentures, Bonds, real estate, commodities, Cars and oil etc has fallen and are falling every day. This has destroyed demand and to make the economy worse the Banks are not lending.

Obama and his advisors are not paying any attention to the 1990’s similar Bank Scams in Japan and the government bailed out its banks with tax payer’s money. In the same manner America is handling its massive Bank Scams by giving them tax payer’s money. There were 7-8 stimulus packages for massive infra structure projects but each failed to revive Japan ’s economy for more than a decade because no serious efforts were made to reform the financial sector and big money dependent politics. It was its corporate sector with export of goods all over the world which saved Japan from disaster. How the massive construction projects can revive US economy which is 85% service oriented? How will team Obama by building Bridges and Roads open up the frozen credit markets?

Then Team Obama is forgetting some of the European Banks like Deutsche Bank, Barclays PLC, Royal Bank of Scotland has assets 100 to 140 % more than the countries GDP they belong to with UBS toping the list with assets 450% more than Switzerland ’s GDP. European Bank’s exposure to emerging economies & export oriented economies is six times the US Bank’s exposure to sub-prime mortgages. The global demand practically for every thing has crumbled and the export oriented economies especially in Eastern Europe and some parts of Asia are on the verge of collapsing. For example Austria ’s banks are most vulnerable with emerging market exposure around $300 billion against Austria ’s GDP of $370 billion. Any European bank failure will trigger a chain of bank failures across Europe and Asia with tremors in America and South America .

The developed nations Leaders rather than looking for viable solutions to revive world economy are siding with Israeli’s in their attack on civilians in Gaza . They are also instigating a failed economy Pakistan and socio-economically failed India with world’s largest poor 700 mil in the world to strip down for a fight. So that no one could notice the present economic melt down was brought by Israeli bankers with American support.

The current bail out efforts by Leaders representing big money has failed to restore confidence in financial institutions. Since no one trust any body; $6 trillion in global money market funds are sitting idle. Team Obama and its counterparts around the globe must work together to restore the trust and faith of the public in their financial institutions. They must prosecute executives, regulators and politicians who are responsible for the massive financial meltdown. The world governments collectively must come up with credible financial reforms that are more transparent and at the same time are capable of preserving the capital and flow of free trade. The era of inhuman pay packages, bonuses and perks must come to end in the corporate world. Above all they must put an end to the nexus between big money and politics. No politician should be able to buy the top Public office of their country like Obama who paid almost a $1 billion for the US Presidency and tenancy of White House for next 4 years.

Dave Makkar

P.S. I refused to call Jews or any one American when they can serve in the Army of a foreign country and can vote in the elections of a foreign Country. In the case of Jews while holding American Citizenship they can serve in Israeli Army like President Elect Obama’s Chief of White House Staff Rahm Emanuel and can vote in Israeli elections.

It is a debatable issue how one can trust such a privileged class of Jews First with loyalties to its own morally & ethically corrupt as well as racist Leadership of Israel in any country?

Also Read

INDIAN PANORAMA NEWS PAPER
Thursday, November 22, 2007
AMERICA HEADING FOR RECESSION
AMERICANS & WORLD MUST PREPARE FOR RECESSION
http://mormon4president.blogspot.com/2007/11/america-heading-for-recession.html

Like or Dislike: 0  0

Like or Dislike: 0  0

Like or Dislike: 0  0

Like or Dislike: 0  0

It is a simple geological fact that the oil we are using up at an alarming rate today will not be replaced within our lifetime — or within many lifetimes. That is why hydrocarbons are called non-renewable resources. Capped wells may appear to refill after a few years, but they are not regenerating. It is simply an effect of oil slowly migrating through pore spaces from areas of high pressure to the low-pressure area of the drill hole. If this oil is drawn out, it will take even longer for the hole to refill again. Oil is a non-renewable resource generated and deposited under special biological and geological conditions.

Like or Dislike: 1  0

Like or Dislike: 0  0

By the same token that Peak Oil can serve as a pretext for war and military adventures, it can also serve as a disarming or pacifying factor for many citizens who accept the Peak Oil thesis and, therefore, internalize responsibility for U.S. foreign policy every time they fill their gas tank. In a vicarious way, they may feel that they own the war!

Thus, Peak Oil serves as a powerful trap and a clever manipulation that lets the real forces of war and militarism (the military-industrial complex and the pro-Israel lobby), and the main culprits behind the soaring energy prices (the Wall Street financial giants engaged in manipulative commodity speculation) off the hook; it is a fabulous distraction. All evils are blamed on a commodity upon which we are all utterly dependent.

http://www.counterpunch.org/zadeh10012008.html
http://goliath.ecnext.com/coms2/gi_0199-5142950/Global-oil-production-about-to.html
http://goliath.ecnext.com/coms2/gi_0199-5142952/Peak-oil-a-catastrophist-cult.html

Like or Dislike: 2  0

All best to you!

Like or Dislike: 1  0

Like or Dislike: 0  1