Despite momentum, no smooth path to climate deal

Well,  No freakin' kidding!

This is a world wide issue to be sure.   The issue is how to stop these elected oligarchs.  Defeat their single minded march to a new world order and economic ruin.    Climate control through the bankruptcy of every nation on Earth will lead to one inescapable end. . .   War!

I propose the peoples of this Earth,  in all nations must put an end to this madness.   Stop this mindless march to destruction.    Even in the face of recently revealed evidence that there is no Global Warming,  that in fact it is perhaps the greatest hoax perpetrated on the human species since the beginning of recorded history,  the Oligarchs continue in their  senseless and devastating  pursuit of a goal that is based in half truths, and bald faced, outright lies.  Unabated and seemingly deaf to the desire or needs of their respective peoples.

I say rise up and remove these people from power.   Use the political power you are given by the vote.   Send them packing.   Failing that,  I leave it up to you how you deal with this corrosive plan about to be debated in Copenhagen.    If they are allowed to put their devious plan into action,  it will mean the enslavement of the human race.

Global warming science and politics make strange bedfellows at first but on closer inspection,  politics is the new enforcement arm of the global warming alarmists.  Global warming is far from a science, much akin to a religious cult now and that is the play book they are using.

Climate change: this is the worst 
scientific scandal of our generation

Our hopelessly compromised scientific establishment cannot be allowed to get away with the Climategate whitewash, says Christopher Booker.

I tell you now;    Resistance is not futile.

More info here and here and here. and here.


The actual emails and docs can be had right here:
http://hotfile.com/dl/18356772/bc29dbe/FOI2009.zip.html

Source(s):

http://hotfile.com/dl/18356772/bc29dbe/FOI2009.zip.html

Climategate e-mails sweep America, may scuttle Barack Obama's Cap and Trade laws

Here is a little gem from Mr. Warner.

This is from:

Gerald Warner

 Just a few considerations in addition to previous remarks about the explosion of the East Anglia Climategate e-mails in America. The reaction is growing exponentially there. Fox News, Barack Obama’s Nemesis, is now on the case, trampling all over Al Gore’s organic vegetable patch and breaking the White House windows. It has extracted some of the juiciest quotes from the e-mails and displayed them on-screen, with commentaries. Joe Public, coast-to-coast, now knows, thanks to the clowns at East Anglia’s CRU, just how royally he has been screwed.

At this rate, Copenhagen is going to turn into a comedy convention with the real world laughing at these liars.  It’s a new world out there, Al, and, as you may have noticed, the climate is very cold indeed.     Want to know more?  Click here.
How's the Inconvenient truth LIE workin' out for ya now Al?
My response to Messrs. Gore and Obama's dilemma is a little different:

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Iran defies United Nations with plans for 10 new nuclear plants

US warns as defiant Iran vows new uranium plants.

This has been going on for how many decades?   

TEHRAN — A defiant Iran said on Sunday it would build 10 new uranium enrichment plants as the United States warned the Islamic republic that time for it to meet international nuclear guidelines was running out.

Iran today sent a defiant signal to the international community by announcing plans to build 10 uranium enrichment plants days after it was condemned by the UN for concealing activities that are feared may be designed to produce an atomic bomb.

The US warned on Friday that its patience is not unlimited, but doors are being left open in the hope that Iran will somehow re-engage.

Western powers have long suspected that Iran, despite its fierce denials, is trying to build a nuclear bomb.
They object to Tehran's uranium enrichment work which can be used to power nuclear reactors, but in highly purified form it can make the fissile core of an atom bomb.

They claim peace,  don't believe them!  They claim it is their right!  Don't allow it!  They claim they don't want to build a bomb,  Don't believe them!  They lie.   They lie!  They lie!   Even when they are telling the truth,  they are lying! 

Want to know more?     Click here and here

This reeeeeeeeeally is a real stunner. . . .

This story originated on The Free Republic.com forum,  near as I can tell.   It appears to be legit.   From there, it was emailed to Karl for his take.   Both the forum contributers and Karl have some veeeeeeeeeerrrrrrrrry  interesting things to say about this and our near future.   Plus there are many great links for your perusal.

 They Aren't Really This Stupid, Are They?

from: Karl Denninger  at the Market Ticker by way of FreeRepublic.com


Here is the real stunner. A senior person at Treasury said to a small group of us that it is now official Treasury policy to extend and PRETEND on real estate loans.  

I've been slack-jawed a couple of times during this debacle of an economic mess, but this has to take the cake:

In other words, the policy statement from last week says, if you can make an analysis that says even if the current value is less than the loan, if you can do a spreadsheet that shows if you extend for 3-5 years, and if the economy gets better, and if the loan can be amortized down to where the loan is no longer more than the value, then the lender does not have to take an impairment -write down. Loans are to be modified by rate reductions, deferral of reserves, deferral of amortization or what ever.

Did 'ya read all those "ifs" in there?  What if one of the "ifs" doesn't?

It gets better:

    Giant make believe. The free market seeking an equilibrium price is no longer economic policy. In short, the working of the free market is suspended. She went on to say it was administration policy that they will create new employment and by doing so they will boost the economy, and so then real estate values will return to old levels. There were 50 of the most senior and smartest real estate people in the room. They ripped her to pieces. It looked like one of the town hall meetings of August, except everyone there was a very senior, polished professional.   At one point everyone was calling out or moaning at her. It was clear to all she had been given a few talking points and she was told to stick to them no matter how foolish she looked. The group told her in no uncertain terms this is terrible public policy. They said for jobs to be created you need to lower rents so the cost of occupancy was at a level to encourage more hiring. If the loan is kept at old levels and building values not reduced, then landlords can't reduce rents to where they need to be to make taking space by tenants economically viable. Retailers costs remain higher than they should be making it harder to lower prices to induce sales. So there is a massive make believe going on.

The pros get it (as have I and a few others.)  What's more they communicated it.

When I pressed the issue of political interference she said - what do you want us to do, bankrupt all the banks.

    That is the choice.

    What does this tell you?

    A. The problem is going to take much longer to solve than it should,

    B. The banks are still very weak, so lending will not return anytime soon,

    C. A massive refi problem is getting deferred to 2013-2015.

    D. The administration is playing politics with the economy to a degree that is dangerous. There has to be a massive value reset for real estate. We are deferring the inevitable.

Actually, it tells me something else.

What are the odds that all those "ifs" pan out?

Statistically?

Uhhhhh.

What happens when they don't?

The banks all go bankrupt anyway, and the economy has been further trashed by the destruction leveled on employment as a consequence of this policy.

What's even worse is that this jackass Treasury Representative, assuming the conversation reported really happened, told a bunch of professionals that if all of those "ifs" don't pan out the banks are all going to blow up.


Want to know more?   I'm not sure I do but here are the links anyway.   Click here and here and here and it gets worse (are you freakin' kidding me) here and this guy is asking some very good questions too.  Click right here.  And as a two year old was recently overheard to say,  worser and worser right here.   And finally, if you would like to know who is buying favors from your favorite elected servant this time around, click right here.

You might find this interesting. . . .

Here's a real shocker. . .

Climategate: The Silence is Deafening from the Corporate Media

Hacked climate emails called a "smear campaign"

by Stacy Feldman

I won't bother to post the story,  if you want to read about the poor abused Global Warming scientists who are being mis-understood,  well click here.    Of course this story comes from:

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Dubai Debt Woes Raise Fear of Wider Problem

NO KIDDING ! ! !

This from:

by LANDON THOMAS Jr.

Published: November 27, 2009

Of the many economies that gorged on debt in the boom years, Dubai stood out.

Now that the boom has gone bust, both in Dubai and in the United States, Dubai is stuck with a glut of real estate that no one wants to buy or rent.

The anxiety reached Wall Street on Friday, sending the Dow Jones industrial average down more than 150 points, as investors worried about hidden debt bombs in other countries and institutions — heavily indebted nations like Greece and even Britain, high-flying emerging markets and even European and American banks that had lent Dubai money.

In a worst-case contagion, Bank of America analysts wrote Friday, “One cannot rule out — as a tail-risk — a case where this would escalate into a major sovereign default problem, which would then resonate across global emerging markets in the same way that Argentina did in the early 2000s or Russia in the late 1990s.”

And not just emerging markets. “Dubai shows us that what we are now facing is a solvency issue, not a liquidity issue.

Now, just as Bear Stearns was a harbinger of a string of failures of overly leveraged investment banks, the concern is that Dubai could be the canary in the coal mine for heavily indebted countries.

“You can print as much money as you want, but at the end of the day you have to pay the interest on your debt,”

But while a Dubai default may not provoke a banking crisis, it could well spur a broader crisis of investor confidence in overly leveraged economies.
World markets did not take long to reflect this insecurity.

On Dec. 14, $3.52 billion in Nakheel bonds come due. One of the largest Islamic group of bonds issued, the deal was snapped up by Western and regional investors. In a reflection of how sure investors were that Dubai would meet these payments, the bonds were trading at a 10 percent premium to face value earlier this week. They are now trading at around half of face value.

Oops!

When I hear a writer  trying to calm the panic,  well,  I don't necessarily panic but I do listen, The old adage of looking both ways and then looking again before you cross the street could be well applied here.   People are being jailed in Dubai for defaulting on personal debt.   Many are living in airport or motel parking lots or sleeping behind a desert sand dune.   This was serious a long time ago.    

If Dubai goes;  and I believe it will unless it's Arab neighbors step up,  there will  be a domino affect.   By that,  I don't mean the end of the world's economies just yet,  no.  I mean it will resonate throughout the world's economies triggering other defaults and this will build.   Sooner rather than later,  this snowball will gain momentum and. . .  well, LOOK OUT BELOW! ! !

Dubai, the shine is off and storm clouds gather on the horizon. . .

Dubai was meant to be a Middle-Eastern Shangri-La, a glittering monument to Arab enterprise and western capitalism. But as hard times arrive in the city state that rose from the desert sands, an uglier story is emerging. Johann Hari reports…

An Adult Disneyland no more. . .

Karen Andrews can’t speak. Every time she starts to tell her story, she puts her head down and crumples. She is slim and angular and has the faded radiance of the once-rich, even though her clothes are as creased as her forehead.

I find her in the car park of one of Dubai’s finest international hotels, where she is living, in her Range Rover. She has been sleeping here for months, thanks to the kindness of the Bangladeshi car park attendants who don’t have the heart to move her on. This is not where she thought her Dubai dream would end.

“The thing you have to understand about Dubai is – nothing is what it seems,” Karen says at last. “Nothing. This isn’t a city, it’s a con-job. They lure you in telling you it’s one thing – a modern kind of place – but beneath the surface it’s a medieval dictatorship.”


There is a lot more to this story Here and it is worth the read.

The story is a sad one, even tragic but the real tragedy here is what is going to happen when this Ponzi Scheme falls apart.  There will be implications world wide.

AMERICA against the world. . .

Ever heard that before,  I have.   You know why the world hates America, you and me?   Because we are exceptional in all ways.   America has been;   for two hundred years, unstoppable.


We are brave,  industrious, proud, helpful to a fault, giving, loving, true blue,  dependable, smart and good.  We care about those in need. We believe in stepping up. The phrase; “These Colors Never Run” is true. We never give up. The only reason we have ever 'lost' a fight can be directly attributed to Liberal wusses pushing a turn tail and run agenda of concession and appeasement.


The richest nation in the world.   The most powerful nation in the world.   The most diverse nation in the world.   The most formidable Military presence the world has ever known.  Rome and it's much vaunted legions would be humbled by our military.

Rome had nothing on the U.S. Marines. The greatest armada ever put to sea pales in comparison to the U.S. Navy. No air force has even come close to the elite U.S. Air Force and the U.S. Army has proven to the world, they can not be stopped. Our Coast Guard is without peer. Add to that the Border Patrol, the Texas Rangers and the US Marshals Service and you can see what I mean.

The CIA, FBI, NSA and a whole raft of other acronyms known the world over and feared the world over give ample cause for the world to be jealous and hateful. Because of who we are, if we don't get our way, it is only because we allow it. Not because the world desires it. That is why we are feared and hated.


Americana can be found in every corner of the world.   Whether you are referring to McDonald's or Levi's etc.   Cowboys and Western paraphernalia can be found or is desired all over the world including China.   5 years ago,  I'm in a chat with a fellow at an Internet cafe in Mainland China and we discuss many things.  What stood out for me was what he desired most in the world,  A Stetson hat and a pair of Cowboy boots.  I never saw that coming.  


From the beginning,  this country has been a force to be reckoned with, admired and revered throughout the world.   Till one day,  the world began to covet what we had.


That is the day the world began hating America the Beautiful.   That brings us to today. Pure and simple, the world is jealous.   End of story.

So today,  I am once again thankful to live in the greatest nation on Earth.   I am thankful for the protections afforded to me and for the peace and tranquility I have enjoyed because of those who have put themselves in harms way,  since the beginning,  to make it so.

Happy Thanksgiving.  

China cashes in big time scoring US jobs, contracts and MONEY!

Apparently, It wasn't just the banks and insurance companies who took 'YOUR' money.  

China State  Construction nets    $100m US subway deal

By Liu Yiyu (China Daily)
Updated: 2009-11-24 08:11

In the first three quarters of this year, the Chinese construction giant signed more than $2 billion worth of contracts in the US market. China State Construction was also the contractor for a high school, a railway station and the Chinese embassy in the US.

Want to know more?  Click here.

Also from Hot Air. . .

Dem senator: Americans who don’t want KSM tried in civilian court can “go somewhere else”  

This ass will go somewhere else in 2010.   Can you say goodbye?

Significant constitutional implications of holding a 'terrorist for trial'. The search warrant question here is bait but the underlying point isn’t:

Unless Holder and Obama have a crystal ball, they cannot predict how the judge will rule on evidentiary or constitutional issues.

The scary part:

Unless Holder and Obama have a crystal ball, they cannot predict how the judge will rule on evidentiary or constitutional issues. In fact, a former CIA official was sure that the defense attorneys will try to change the focus of the trial from KSM’s atrocities to his confession coerced by the harsh interrogation techniques. He and others interviewed used the phrase “the fruit of the poisonous tree,” referring to the doctrine whereby some evidence may be declared inadmissible. He further declared that “I am worried about a civilian judge because if that confession is thrown out the rest of the evidence will be as well. Will the judge allow this nonsense into the courtroom?”

This is a DEMOCRAT/LIBERAL/SOCIALIST agenda and if these guys walk,  there will be some very pissed off Americans.

 I just don't think these arrogant Democrat wusses get what is coming down the pike.  Their day is done.

 Click here to read more.

 

 

“Confirmed: Angelina Jolie the perfect woman.”

 

Barack Obama does not have Angelina Jolie's seal of approval.
"She hates him," a source close to the U.N. goodwill ambassador, 34, tells the new issue of Us Weekly (on newsstands now).  "Angie isn't Republican, but she thinks Obama is all smoke and mirrors," the source says.

I think she's on the right track here. 

 Want to know more?  Click here and here.

Why we lost the war 

Navy SEALs Face Assault Charges for Capturing Most-Wanted Terrorist


A must read from Cold Fury!


I agree 110%!

Thanks Mike!

Want to know more?  Click here.

The giant panda in the room is rumbling. . . .

China Losses Inevitable as Dollar Weakens, Ex-PBOC Adviser Says  

Nov. 26 (Bloomberg) -- China’s foreign-exchange reserves face a “triple whammy” as inflation, oversupply and the “inevitable” decline of the dollar threaten to erode the value of its holdings of U.S. Treasuries, said Yu Yongding, a former adviser to the Chinese central bank.
China needs to divert its trade and investment surpluses away from U.S. debt if it is unable to reduce them, Yu, a member of the central bank’s monetary policy committee from 2004 to 2006, said in a speech in Melbourne last night. The nation, with the world’s largest foreign-exchange reserves of $2.3 trillion, is the U.S.’s biggest creditor, holding $798.9 billion of Treasuries as of September.
“Capital losses -- let alone obtaining decent returns -- seem inevitable,” said Yu, a member of the Chinese Academy of Social Sciences. “There is no question whatsoever that the U.S. dollar will go south, which started in April 2002 and, after a short interval, restarted in March 2009.”


This is baaaaaaaaaaaaaaaaaaad!


 So what do ya think?    I think China is going to abandon the dollar as fast as it can.  

My guess is that if you have any holdings in dollars,  or in the bank,  well, um,  if it were me,  I would GET IT THE HELL OUT!!!!

ArabianMoney.Net

Yes, dear reader, the recession is over. Welcome back to the Depression.


Alas, it’s the work of a DEPRESSION – de-leveraging, busting up, working out loans, defaulting on debt…going chapters 11 and 7.

Just a few months ago,  it was 1 in 6 mortgage owners who were underwater.  Now it is 1 in 4.   Um,   this is bad...too.

IMF: 50% of Bank Losses Still Hidden

Half of banks' losses may be unknown: IMF chief

“There are still some important losses that have not been unveiled. It’s possible that 50 percent (of bank losses) are still hidden in their balance sheets. The proportion is greater in Europe than in the United States.”
-Dominique Strauss-Kahn, International Monetary Fund’s chief

>
Today’s WTF quote comes to us from France, where the head of the IMF is worried about losses hidden on banks balance sheets. This is due in large part to the suspension of Mark-to-Market and the current accounting principles of Mark-to-Make Believe.
Reuters:

“Half of the losses suffered by banks could still be hidden in their balance sheets, more so in Europe than in the United States, the International Monetary Fund’s chief, Dominique Strauss-Kahn, was quoted as saying on Tuesday.
In an interview with French newspaper Le Figaro, Strauss-Kahn also said the IMF thought the euro currency was probably a bit too strong.
“There are still some important losses that have not been unveiled,” Strauss-Kahn was quoted as saying in response to a question on banks, according to excerpts of the interview that were sent to media ahead of publication on Wednesday.”

 ah. . .  um . . .  this. . .   I'm pretty sure this is real bad.   It can not get any worse can it???  I mean . . . well . . . let's keep reading. . .

 

 

Actually it's alot worse. First of all you have to ask yourself why the 50% in losses are still being hidden. Their being hidden because because that half of the losses are the junk that is not worth a dime, in fact it's worthless and they are trying to make it seem like it's going to be worth something someday.

The losses that they have shown are literally the good stuff, if they showed the stuff they are hiding it would tell everybody that said bank is truly insolvent. Two, the stuff they are showing isn't valued right. At the start of this year, the govt. made it okay again to Mark to Make believe instead of Mark to Market. That means that said bank or institution can say said financial instrument is worth this or that. When in reality Mark to Market would have those instruments worth penny on the dollar
instead of dollar on the dollar or more. So whatever losses and "recovery" they are showing is just make believe to stop the bleeding.

We still haven't got hit from the Commercial loans, the Prime borrowers of mortgages are defaulting and the work out loans that the govt. has praised is re-defaulting.

We haven't cured the problem, we have just papered over it with printing of money (swamping treasuries for toxic assets for short/long term) and letting some of the large banks and institutions just lie about their finances. The fed is in a serious problem, if they raise interest rates it will destroy the recovery and make whatever assets on the books of the banks become less.

If they keep the rates low or zero essentially, it devalues the dollar and in essence will cause inflation if not hyperinflation (it hasn't been felt yet because banks aren't lending out money). So you have 50% of assets not being realized and the other 50% may have a large percentage that is Mark to Make believe.

What you have is still at least a 75% problem of toxic assets not being realized, and the govt. covering it up by inflating the money supply.

Read more here and here and here.

My phone has not rung yet. . . .

Live Free or Die!

Check out this billboard on I-70 in Missouri.

From Alex Jones Prison Planet.

Minnesotians for Global Warming. . .Hide The Decline - Climategate

This is HI-larious. . . .

Note to Ed Bagley Jr. . . . .

Science is not clear at all on Global (Al Gore Makes Billions [yup, you read that figure right] on this scam)  warming.   As a matter of fact,  Science has their heads up their respective colons on this one. 

Science has been deceitful on this issue.  

Science has made up data or fixed data or created some other fiction to make their theories work.   Naughty, naughty boys and girls.   Shame on them and you for perpetrating this hoax of gargantuan proportions on the world.

For you or anybody else to continue this asinine quest to control the world through a failed theory just defines you and your ilk.

Get a life Ed,  your wasting this one.

Want to know more about this train wreck?  Sure you do. . .  click here.

This fella has a singular wit and a rapier sharp keyboard. . . .

Check this blogger out, Good stuff and right on target. Funny as hell to boot.

American Heroes, Doing Their Job, Sucker Punched By U.S. . . .

Busted for doing their job.   

You heard me,  You and me.  The good ole' USA.   We have allowed this to stand.   We have made a mockery of service in the military by allowing this kind of bull pucky to stand.   I have had enough.   This terrorist who was captured by Navy Seals and has a bloody lip.   So we toss the Seals in the brig???  Give me a FREAKING break!!!   Stop this insanity!   Let them go!   What is wrong here?!?

What is wrong with you America???   Where is the outcry of outrage.   These guys are here to protect us and you want to tie their hands behind their backs.   This terrorist is lucky all he got was a bloody lip.   It could have gone a whole nuther way,  oh yeah!

This is enough PC bull pucky thank you.   The message I hear;   loud and clear, is the only good terrorist is a dead terrorist.  That way, they can't be abused by the 'evil' Navy Seal Teams.   No chance of a bloody lip if you're dead.

So,  lets check this. . . . Navy Seals capture the terrorist alive. . . .  he gets a bloody lip, then he gets the Miranda warning,  tried in US Court and afforded actual citizen rights.  Yeah, that's right,  the same bunch that knocked down the towers.   The same bunch that drug the Blackwater security guys through the streets and hung there violated bodies from a GD bridge.   Yeah,  them Sons-O-Bitches.

The FDIC Is Broke. . . This is bad. . . .

RED ALERT!! FDIC IS FLAT BROKE 

Actually, they were broke as far back as August 14th of this year.   

According to news wire services this morning, via Karl Denninger of Market Ticker, the FDIC is flat broke.

This is the organization that insures the bank accounts of multi-millions of Americans.


By mybudget360

This figure is stunning because the deposit insurance fund (DIF) is insolvent.  We are trusting banks with no insurance fund to guard $9 trillion in our deposits.

If Americans would stop and think of the implication of having an insurance fund with no money backing up $9 trillion in their deposits, they would probably pause for a few minutes.  And just because your money is sitting in a bank account doesn’t mean that it is safe.  The U.S. Treasury and Federal Reserve is on a war path to devalue the dollar so even though your money is nominally the same, in real terms you have gotten a lot poorer.  The dollar has fallen by over 15 percent since March.  This is an enormous amount but given the policies we are following, it is no surprise.

If it can’t make it with trillions in bailouts, what will the government do to backstop the entire system?

By:    Karl Denninger  Tuesday, November 24, 2009

Yes, really.

Off the wire this morning:  FDIC Deposit fund had negative $8.2B balance in Q3
 

That's broke.  Bankrupt.  Kaput.  Gone.  Poof.  Dead.  Rotting.  A corpse.

I am not, by the way, predicting an actual FDIC failure to pay.  Should such an event happen it would be tantamount to a declaration of revolutionary war (by the government about to be deposed!) as if there is one thing that would cause Granny to reach for her shotgun, it would be getting screwed out of her life savings after Sheila Bair and everyone else in our government has trotted out how their money is "fully safe" and that "nobody has ever lost a penny of insured deposits and never will" for more than 20 years, including lots of pronouncements of exactly that mantra over the last year.

Nonetheless this outlines the underlying problem the FDIC has - it has willfully and intentionally ignored the fact that banks have mismarked their "assets" to overstate their values, it has refused to demand that accounting be done on a strict "mark to market" basis by bank examiners, and indeed, it has backed the "extend and pretend" commercial real estate "rollover" provisions of recent months, all of which is manifestly unsound and intentionally misleading.

The result? 

THE FDIC IS BROKE.

The kicker here is that the WORLD BANK is broke too or will be in about 12 months.

Take immediate action to protect your assets, folks! The crash is drawing near. 

Let's put this in common-man terms:

YOUR SO-CALLED "DEPOSIT INSURANCE" AND THE SEVERAL TRILLION IN CITIZEN BANK DEPOSITS ARE BACKED BY THE SAME AMOUNT OF CAPITAL THAT AIG HAD TO BACK THEIR CREDIT DEFAULT SWAPS: BUPKIS.

Read all about it HERE and HERE and HERE and HERE.

Read more HERE.   If you dare.

One picture is worth . . .

Here Is Why The Dollar Is Now Effectively Worthless

Submitted by Tyler Durden from:  'ZERO Hedge' on 11/23/2009 10:27 -0500

A picture is worth a thousand Krugman essays, which is why we present a chart comparing the US Monetary Base (and by subtracting Reserve Balances with Fed Reserve Banks, Currency in Circulation), and the Fed's holdings of MBS and Agency paper (worthless GSE/FHA garbage). In summary: Currency in Circulation: $920 billion; MBS/Agency Holdings: $997 billion. The dollar in your pocket is now entirely backed only by worthless, rapidly devaluing and subsidized housing.

Click on the Chart for a full sized view.

 

Polk Coroner: H1N1 Deaths Understated

Medical Examiner Says He's Autopsied Undiagnosed Patients

 DES MOINES, Iowa -- Iowa has officially recorded 21 H1N1 deaths, including seven in Polk County alone. But the county's medical examiner said he has performed autopsies on some residents who were never diagnosed with H1N1, but actually had it.

"In the autopsy, what we're seeing is very heavy, wet hemorrhagic lungs, lungs with a lot of blood in them," said Dr. Gregory Schmunk.

Hemorrhagic Pneumonia Found In Iowa: Doctors Not Disclosing Number of Deaths

Doctors in Iowa are observing hemorrhagic lungs in flu patients, but although the state has officially recorded 21 H1N1 deaths, actual cases may be higher as patient rights, laws prohibit the disclosure of specific numbers.

The county's medical examiner said he has performed autopsies on some residents who were never diagnosed with H1N1, but actually had it.
"In the autopsy, what we're seeing is very heavy, wet hemorrhagic lungs, lungs with a lot of blood in them," said Dr. Gregory Schmunk.

We're Seeing Very Heavy, Wet Hemorrhagic Bloody Lungs

He said the official count of seven H1N1 deaths is inaccurate, but patient rights laws prohibit him from giving specific numbers.
He said there are two reasons for the discrepancy. First, not all sick patients get tests and second, the virus is difficult to detect. Some patients may be too sick to receive the most accurate H1N1 test.
"They're not always done and it can be hazardous to the patient if they're in a respiratory critical situation," Schmunk said.
He also said that some tests reveal a false negative.
"Because of our limitations on testing, sometimes the tests aren't positive," he said. "They do appear to fit clinically the course of a H1N1 viral-type pneumonia."
He said the cases he's seen in Polk County were all middle-aged adults with a few underlying health conditions.
"These may be the patients that are obese," Schmunk said. "Obesity restricts your ability to breathe and clear the virus from your upper respiratory."
He also said that some of the patients had diabetes.
Schmunk said he's urging people to get the vaccine.
He said that in the meantime, remember to wash your hands, sneeze into your sleeve and stay home if you're sick. The Centers for Disease Control and Prevention said one person who goes to work sick with the virus will infect 10 percent of his or her co-workers.

CDC H1N1 forced quarantine docs leak

Last night Zero Hedge obtained some interesting documents from the CDC web site. They contain blank 'forced quarantine' orders from Iowa and Florida regarding novel H1N1 -- including quarantine to a 'secure detention center'-- which appear to be recent -- dated April 2009. Some may be aware the NIH and CDC just held an H1N1 conference in DC -- August 19-21 2009 -- that focused on 'mass fatality management'. For many, this should be cause for concern. As is becoming clear, our government is quite corrupt. The idea that this same government is now preparing for forced quarantine and mass vaccination should make anyone who has been following recent events shudder. There is something going on here, but governments have not come clean with the public. Why 'secure detention centers' in the U.S. and 'secure vaccination centers' in France if there is nothing to be concerned about? It is becoming increasingly clear that a global mass vaccination campaign is planned -- likely to become mandatory in the 193 WHO member countries, despite serious safety concerns regarding these untested novel H1N1 vaccines, some of which are now known to contain high levels of the deadly adjuvent squalene.

Others may be aware that it was only last week that the Massachusetts State Senate passed a law making it a relatively serious crime to refuse a mandatory vaccination or to break a quarantine order. This law also includes rather astounding violations of the 4th Amendment, including warrantless searches and seizures of property if deemed necessary in an 'emergency'. This new Massachusetts law also included authorizations for illegal arrest without a warrant and of forced vaccination of the public. But the political activity is not limited to the states. Yesterday Obama held meetings with senior cabinet officials regarding H1N1 'pandemic prepardness' including HHS Secretary Sebelius. So this is not idle speculation. There is something going on here. Either the government knows something we do not, or this is the biggest hype since the dot com bubble.
Although the current H1N1 virus does not have lethal genes yet, we have been implicitly promised by the national and global health authorities that novel H1N1 will soon return with such genetic 'upgrades', just as it did in 1918. Here at ZeroHedge, we are expecting a flock of economic black swans soon, and a pandemic -- whether real or hyped -- may be part of this flock. An economic collapse will be no doubt be triggered soon , and it will be convenient for the political elites to blame the collapse on an external factor, such as a pandemic or a war. Furthermore, the fall H1N1 pandemic may be a convenient pretext by which dangerous levels of expanding social control can be established by elites which have proven themselves utterly corrupt and morally bankrupt.

On to the documents.

Please go to the link to Zerohedge in the CDC headline to see the documents!

This guy should have been fired. His quiting means nothing has changed.

Pennsylvania Union Leader Resigns Amid Criticism for Threatening Legal Action Over Boy Scout's Volunteerism



A union leader in Pennsylvania has resigned after being criticized for threatening legal action over an aspiring Eagle Scout's volunteer project.

Nick Balzano, president of the Service Employees International Union's Allentown chapter, submitted an unexpected resignation letter Thursday, along with a few other employees, SEIU spokesman Matt Nerzig told Foxnews.com.

Anderson, a member of Boy Scouts Troop 301 of Center Valley, spent more than 200 hours creating the 1000-foot path in Kimmets Lock Park along with fellow scouts, friends and parents.


This is the same union that supported Obummer, beat up Tea Party participants,  and in general tries to intimidate those who want Liberty and Freedom, and is receiving favoritism from Obummer to boot.

Newsweek Editor Admits: Health Care Bill a ‘Fiscal Fraud’ But ‘I’d Still Vote for It’

What?

Read the full story here.

Oh and from the same site,  here's a shocker.

The Snooze York Times Strikes again. . . . Hey isn't anybody awake over there?

This just in:  From Cold Fury.   These guys pull no punches. . .  oh yeah. . .They also tell the truth!!!

You knew this was coming, right? But there are two even more hilarious parts of the story in Tim’s post; one, this, from a warmal-coldening True Believer and NYT all-round idiot:

This is a criminal act of vandalism and of harassment of a group of scientists that are only going about their business doing science. It represents a whole new escalation in the war on climate scientists who are only trying to get at the truth…

No, you are only trying to obscure the truth, you lying putz.

This illegal act of cyber-terrorism against a climate scientist (and I don’t think that’s too strong a word) is ominous and frightening. What next? Deliberate monkeying with data on servers? Insertion of bugs into climate models? Or at the next level, since the forces of darkness have moved to illegal operations, will we all have to get bodyguards to do climate science?

Not if you’re actually doing science, no. If you’re continuing to try to bilk, swindle, and stampede the public into approving more government control, exorbitant taxation, and promoting general deprivation with your Climate Change (formerly Global Warming, formerly Global Cooling, formerly “the weather”) scam, then yeah, you damned well ought to be watching your backs. Just as any other con artist has to.

But perhaps even more hilarious is this lame, ass-covering rationalization for the NYT’s refusal to report on the scandal (CAUTION: both this and the link immediately preceding are to the NYT; please proceed with the skepticism usual when dealing with these lying propagandists):

A thick file of private emails and unpublished documents generated by an array of climate scientists over 13 years was obtained by a hacker from a British university climate research center and has since spread widely across the Internet starting Thursday afternoon. Before they propagated, the purloined documents, nearly 200 megabytes in all, were uploaded surreptitiously on Tuesday to a server supporting the global warming Web site realclimate.org, along with a draft mock post, said Gavin Schmidt, a NASA climate scientist managing that blog. He pulled the plug before the fake post was published.
The documents appear to have been acquired illegally and contain all manner of private information and statements that were never intended for the public eye blow vast, gaping holes in our Coldal Globening flimflam, so they won’t be posted here.

There. Fixed it for ya, asshole.
Funny how they weren’t nearly so ethically exacting about such things when it concerned national security or Sarah Palin’s private e-mails, innit?

Don't believe it. . . Their lips are moving. . . don't believe it. . .

General Motors fake, marketing ploy, phony bail out pay back.

I am a fan of 'Naked Capitalism' and Although I am no fan of the New York Times,  I think they have this one nailed.   The gist of the entire article is that we;  the taxpayer,  should assume the position.  You know what I mean. . .

By Edward Harrison of Credit Writedowns
This comes via Deal Book at the New York Times.

The company’s chief executive, Fritz Henderson, called the repayment plan “a personal commitment.” The Obama administration, wardens of the 60 percent taxpayer stake in the company, declared itself “encouraged” by the news. Many commentators followed suit. But in the premature rush to herald the beginning of the end of the government’s involvement in the auto industry, a number of key considerations were left out, Edward Niedermayer, the editor of The Truth About Cars, writes in an op-ed in The New York Times.
For starters, $6.7 billion doesn’t begin to scratch the surface of what G.M. actually owes us. Over the past 12 months, the Treasury has given it some $52 billion in the form of cash, loans and the purchase of that 60 percent of the company’s post-bankruptcy equity. And that number fails to take into account the two bailouts of G.M.’s former lending arm, GMAC, or the $3 billion spent on the “cash for clunkers program,” which doubtless kept the company from posting even deeper losses.
Moreover, G.M. is not, in the strictest sense, paying back taxpayers at all. Rather, it is refunding $6.7 billion of an $18 billion escrow account that was given to it by the government when it emerged from bankruptcy. The rest of that account will be used to cover fourth-quarter losses (including $2.8 billion pledged for the rescue of G.M.’s major parts supplier, Delphi), repay loans from the Canadian government, and possibly prop up the automaker’s shaky European operations. That escrow account is due to expire in June, at which time G.M. will repay what remains of the $6.7 billion from this week’s pledge — and then pocket the estimated $5.6 billion remainder.

This post echoes comments I wrote at the time in my post “Why GM is repaying bailout money while it is still loss-making” when I said:

Meanwhile, in what should be seen as a PR move, General Motors has also announced it will begin repaying government money. The first $1 billion to be repaid in December. The company will make $1 billion payments to the U.S. government and $200 million payments to the Canadian government every quarter. It has said it could repay all the aid money by 2011, four years ahead of schedule. Presumably, this does not include the equity government stakes which can be sold on in the open market in an I.P.O.
Given the fact that General Motors is still losing money, it would make sense for them to delay repayment. However, I reckon they are going to repay early in order to tamp down criticism about their government-funded bailout.

Obviously, a lot of people were fooled that GM was repaying anything. It’s pure smoke and mirrors designed for public relations. The fact is GM is completely dependent on both government largesse and a global recovery in order to make its story work. Fritz Henderson mentioned in the flurry of announcements that he was more concerned with the top line than cutting costs. For that strategy to work, GM has to sell more cars or sell cars at a higher average price or both. To do so, recovery must be sustainable, which I don’t believe it is.
Meanwhile in Europe, GM has backed out of the Magna deal with the German government.  The Financial Times Deutschland believes they have done so in part to extract a better deal from other European governments which are chomping at the bit to save jobs in their own countries. The UK is said by German magazine Spiegel to have offered 400 million Euros in aid. Spain wants to pitch in with 300-400 million. Poland has offered tax breaks of indeterminate size. And Belgium is also in the running with their own package. All of this could add up to about 1.3 billion Euros.
However, Spiegel reports that the Opel head works council does not even believe the company can be turned around. In quoting works council member Klaus Franz, Spiegel said:

The existing plans call for GM to reduce fixed costs in Europe by 30 percent and capacity by 20 to 25 percent. The American company expects the Opel-Vauxhall turnaround will cost 3.3 billion euro. "I have no idea how they expect to be able to raise the two billion Euros on their own.”

We know where the money is coming from; it is coming from the $18 billion escrow GM has courtesy of the U.S. government and taxpayers.  This is a case in which U.S. taxpayers are funding European jobs. It’s as simple as that.
You noticed that GM is cutting capacity in Europe 25-30 percent. That’s a smart move because the world is awash in automotive productive capacity. However, massive bailouts only distort market mechanisms and artificially support this excess capacity. So it should come as no surprise that Volkswagen is increasing production. While this increase is mostly in China, this is prima facie evidence that we are not likely to see enough reduction in global automotive production as each individual country looks to protect its workers.
Every country is bidding to prop up its own domestic production facilities in an effort to save jobs at a time when the economy is still weak. This will keep excess capacity afloat in the auto sector such that when the next downturn hits, we are likely to witness more trouble in this sector. GM is actively pitting these countries against one another to extract the most in subsidies, using U.S. taxpayer money to float its operations as it does so.
The phony taxpayer repayment has to be seen against this backdrop. The U.S. and Canadian governments have invested over $60 billion in GM. GM had a market capitalization at a 2000 bubble peak of $57 billion. Yet, according to the New York Times article, equity from a planned I.P.O. would have to be worth $66 billion, an even higher market capitalization. I seriously question whether this money will ever be repaid in full. This is what happens when you bailout bankrupt companies. Expect the same in the wonderful world of finance too.
Sources
G.M. Is Taking Taxpayers for a Ride – Deal Book
Opel-Länder starten Subventionswettrennen – FTD
Mercedes-Manager soll Opel-Chef werden – Spiegel
Opel-Betriebsrat traut GM Sanierung nicht zu – Spiegel
Volkswagen to invest billions to increase production – BBC News
VW planerar miljardinvesteringar – Dagens Nyheter

More on this topic (What's this?)

GM's $79.4 billion in profits over nine days (The Mess That Greenspan Made, 11/16/09)

GM Loses $1.1B: Repaying Loans With... Loans (Shocked Investor, 11/16/09)

Euro Leaders Outraged as GM Backs Out of Opel Deal (Money Morning, 11/4/09)

Read more on General Motors at Wikinvest

Funny, in a. . . we are so screwed kind of way. . .

Democracy Threatened by Bankster Fraud and insane fiscal policy. . .

All I can say is will you, Americans, please wake the hell up!

The IMF warned this weekend that a second bailout would "threaten democracy":

Dominique Strauss-Kahn told the CBI annual conference of business leaders that another huge call on public finances by the financial services sector would not be tolerated by the “man in the street” and could even threaten democracy.
"Most advanced economies will not accept any more [bailouts]...The political reaction will be very strong, putting some democracies at risk," he told delegates.

I hope you're prepared for that, because our government has intentionally lied its way through this mess so far.  We have refused to force those who are holding paper at well above its actual value to recognize their losses (and indeed have made such a policy via accounting changes!), we have allowed The Fed to monetize $1.5 trillion dollars in bad paper (into which The Treasury immediately issued more debt in order to fund giveaways of various sorts, thereby instantly destroying any beneficial aspect that this program would have otherwise had), and we still have literal hundreds of trillions of "off exchange" derivatives with no accurate accounting of where the net exposure resides or in what amount it exists.

Pass the Koolaid. . . .

This from the Market Ticker and Bloomberg:

Someone has figured it out.

“We cannot spin a positive story from the fact that a third-of-a-trillion dollars a week is trying to lock down Treasury bill yields of less that 0.05 percent,” Bianco said. “There is still tremendous demand for the front end of the curve despite the fact that people are saying things like there is no yield there and that cash is trash.”

Strauss-Kahn Says Half of Bank Losses Are Undisclosed 

$300 billion worth of "someones" - per week.

Let's cut the crap.  The IMF has (correctly) surmised that there will be no ability - politically or fiscally - to fund another bailout.

The IMF has also (correctly) surmised that only half of the losses necessary to take have been realized, with the rest being papered over by government malfeasance, accounting chicanery and outright fraud.

Now you might try to make a case that "the worst is over" and "it will all be good, we're recovering in the economy", but to do so you have to explain where the money is going to come from to absorb the other $1.5 trillion in residential real estate loan losses along with how we're going to prevent the MBS on The Fed's balance sheet from detonating - and we haven't talked about the commercial real estate lending market yet.

Have another glass of KoolAid folks - it's grape-flavored, mixed by someone named "Jones" and tastes great!

T-bills ZERO as stocks still appreciate.  This cauldron mix is toxic.   Does 1938 come to anybody's mind?

“At some point reality is going to bite us in the backside,” said Michael Cheah, who manages $2 billion in bonds at SunAmerica Asset Management in Jersey City, New Jersey. “We are living in the best of times and the worst of times. Unfortunately the best of times cannot continue celebrating like this when the economic fundamentals are worsening rapidly.”


Hang on folks,  the ride gets bumpy from here.

These frauds should keep their mouths shut and humbly ask for forgiveness!

Climate Change Advocate Calls E-Mail 

Hacking Appalling

 Scientist claims documents stolen from a British research institute may be aimed at undermining talks at next month's Copenhagen global climate summit.

 

Reeeeeeeaaallllllyyyyy?! . . . . . . .

 

Skeptics claim correspondence shows collusion between scientists to overstate the case for global warming.

Trenberth says the hackers took data out of context.

Want to know more???   You bet you do!   Click here.

 Oh,  you mean kinda like the whole Global Warming FRAUD???

Yeah,  yeah,  like that!

This is good as it gets on Global Warming. . . .

This is a It's a stellar interview. Funny thing. . . funny in the ironic way not the ha ha way. . . Michael Crichtdon graduated Harvard Medical School, was a published scientist, and was a fellow at the Jonas Salk Institute before becoming a Hollywood writer/producer. In other words, Michael Crichtdon is like the 900lb gorilla in Al "the fraud" Gore's little world. Al Gore and the entire accepted Global Warming dogma of man-made global warming (AGW) is obliterated.

Actually, I'm waiting for Al to start damage control. You know, how he was hoodwinked and lied to. Yeah right. Who exactly did he have advising him here. Big Bird? He stood to make BILLIONS; Through his Carbon Credit companies, on this huge lie and now, well that is probably up in the air as well as his future freedom. This guy hoodwinked the world. I sure hope someone can come up with some appropriate consequences. I can only hope. . .