Financial Crisis

[MJP]

From ZeroHedge . . .

A Disillusioned 99'er Shares His Disappointment With The American Dream, Welcomes Death

That is a sad letter.....Sad because it is true & I see it here in the Us where I am too.

I know folks who have exhausted their long term UEI & I see they are getting no more help.

Yes they can get Food via the food stamp card...But they cannot get cash unless they have a child under 5 years old.

The folks I know are not lazy...They have worked hard their whole life but, like the letter writer they are not young.

Yes they have skills....mad skills some of them but, They are being passed over for the many younger folks now available too.

This will not end well I am sorry to say. I would love to see a way out for them but do not....Not any time soon anyway.

Yet as he said in his letter.....

they could have used unspent stimulus monies or cut foolish costs like the failed wars or foreign aid, and farm subsidies.

It is TRUE they could have & the money would have been better spent as it would truly have been recycled into the economy. Instead it is in fact given to those who caused most of the problem & they give it to the casino stock markets to suck in the last of the $$ still floating out there in private hands.

This guy should not have died alone he should have taken a few bastards with him.

I will say I think the Type 2 diabetes probably played it's part in this poor mans demise, I think that's a fair assumption. But yes, we've yet to see the true horrors of this depression (or biggest fraud of all time) yet.

[12DrinkMore]

From the UK, a couple of dismal reports, I suppose that finally the peeps are getting restless and fed up with hearing about the elusive recovery, and so now we are moving to the next phase. Bring down the already reduced expectations.

So, all from the Telegraph

firstly inflation....

http://www.telegraph.co.uk/finance/economics/8328149/Inflation-report-Bank-of-England-cuts-growth-forecast.html

Growth in 2011 will be weaker than previously estimated, the central bank said, but reassured that a double-dip recession was unlikely as growth is set to resume following the shock contraction at the end of 2010.The Bank's report confirmed inflation is expected to rise 5pc before falling to around the 2pc target in 2012 - but only if interest rates rise in line with market expectations from the second quarter of this year.

The market expects rates to reach 1pc by the end of the year and the report warned that if the Bank took no action - holding rates at an historic low of 0.5pc - inflation would still be above target in two years' time.

However, the Bank said that, even if rates rise in line with market expectations, inflation will remain "well above" target for the next year and there are doubts over the timing and how far it will drop back.

We continue to be subject to Mervyn's attempts to keep the banks and debtors from insolvency. He has just moved the goalposts out by TWO years to the end of 2012 (I know he didn't state when in 2012, but I would guess he is looking more to the end than the beginning of the year). All he has said in the last two years is that we should ignore the "temporary inflation increases and look to the long term success of his policies. Yeah, right.

So, all you GBP holders, don't expect much good news on interest rates and increasing strength.

And then let's peek at the unemployment figures

http://www.telegraph.co.uk/finance/jobs/8328006/Shock-rise-in-unemployment-as-workers-hit-by-wage-cuts.html

Andrew Goodwin, senior economic advisor to the Ernst & Young ITEM Club, said: "These figures provide further confirmation that the labour market outlook is deteriorating.

"The ILO variables have continued to weaken - with employment falling and both unemployment and inactivity rising - but it is notable that the claimant count has now relapsed too. Though the rise in the claimant count might have been small, it is symbolic of the direction in which the labour market is heading."

And now to the politically sensitive issue of old age and who pays for it.

http://www.telegraph...derly-care.html

The post-war baby boom generation "has done pretty well for itself" and should be prepared to use its property wealth to pay for care in old age, a government adviser has said.

Very tricky this one, although I personally am totally convinced that assets built up during the working life should be used to pay for the "evening of life" before the taxpayers should be penalised. A good few brats will think this is totally unfair and consider they deserve the entire "family inheritance", but sorry guys, why should the care of your parents be socialised across other tax payers so that you personally can profit from it? Now THAT seems very unfair. And, in the same way, I object to taxpayers forking out to provide support for the brats of others, who are unable to earn enough to support the brats themselves.

I hope I am wrong, but the next decade is looking increasingly dismal for the UK.

Edited February 16, 2011 by 12DrinkMore

[LaoPo]

On the other side of the ocean a "growth of 3.4 percent to 3.9 percent this year" is expected in the USA:

February 16, 2011

Fed Substantially Upgrades Growth Forecasts for 2011

By SEWELL CHAN

WASHINGTON — The Federal Reserve revealed Wednesday that its policy makers had substantially upgraded their forecasts for how much the United States economy will grow this year, even though they expect that unemployment will remain painfully high for some time.

The core projections of top Fed officials now call for growth of 3.4 percent to 3.9 percent this year, up from the previous forecast of 3 percent to 3.6 percent, released in November. But the grim outlook for the job market was largely unchanged; Fed officials expect unemployment to be 8.8 percent to 9 percent this year, only slightly less than the November estimate of 8.9 percent to 9.1 percent.

Growth expectations were lifted by an improvement in consumer spending in the fourth quarter, though Fed officials were uncertain how long that would last, according to minutes released Wednesday of the Fed’s policy meeting in late January.

“On the one hand, the additional spending could reflect pent-up demand following the downturn or greater confidence on the part of households about the future, in which case it might be expected to continue,” the minutes noted. “On the other hand, the additional spending could prove short lived given that a good portion of it appeared to have occurred in relatively volatile categories such as autos.”

http://www.nytimes.com/2011/02/17/business/economy/17fed.html?_r=1&emc=na

LaoPo

[midas]

On the other side of the ocean a "growth of 3.4 percent to 3.9 percent this year" is expected in the USA:

February 16, 2011

Fed Substantially Upgrades Growth Forecasts for 2011

By SEWELL CHAN

WASHINGTON — The Federal Reserve revealed Wednesday that its policy makers had substantially upgraded their forecasts for how much the United States economy will grow this year, even though they expect that unemployment will remain painfully high for some time.

The core projections of top Fed officials now call for growth of 3.4 percent to 3.9 percent this year, up from the previous forecast of 3 percent to 3.6 percent, released in November. But the grim outlook for the job market was largely unchanged; Fed officials expect unemployment to be 8.8 percent to 9 percent this year, only slightly less than the November estimate of 8.9 percent to 9.1 percent.

Growth expectations were lifted by an improvement in consumer spending in the fourth quarter, though Fed officials were uncertain how long that would last, according to minutes released Wednesday of the Fed’s policy meeting in late January.

“On the one hand, the additional spending could reflect pent-up demand following the downturn or greater confidence on the part of households about the future, in which case it might be expected to continue,” the minutes noted. “On the other hand, the additional spending could prove short lived given that a good portion of it appeared to have occurred in relatively volatile categories such as autos.”

http://www.nytimes.com/2011/02/17/business/economy/17fed.html?_r=1&emc=na

LaoPo

Why would anyone honestly listen to anything these snake oil merchants have to say

And have they ever been right about anything ?

I find the following article far more credible than anything Ben Shalom Bernanke has to do with

How To Fake An Economic Recovery

http://www.zerohedge.com/article/guest-post-how-fake-economic-recovery

[craigt3365]

On the other side of the ocean a "growth of 3.4 percent to 3.9 percent this year" is expected in the USA:

February 16, 2011

Fed Substantially Upgrades Growth Forecasts for 2011

By SEWELL CHAN

WASHINGTON — The Federal Reserve revealed Wednesday that its policy makers had substantially upgraded their forecasts for how much the United States economy will grow this year, even though they expect that unemployment will remain painfully high for some time.

The core projections of top Fed officials now call for growth of 3.4 percent to 3.9 percent this year, up from the previous forecast of 3 percent to 3.6 percent, released in November. But the grim outlook for the job market was largely unchanged; Fed officials expect unemployment to be 8.8 percent to 9 percent this year, only slightly less than the November estimate of 8.9 percent to 9.1 percent.

Growth expectations were lifted by an improvement in consumer spending in the fourth quarter, though Fed officials were uncertain how long that would last, according to minutes released Wednesday of the Fed’s policy meeting in late January.

“On the one hand, the additional spending could reflect pent-up demand following the downturn or greater confidence on the part of households about the future, in which case it might be expected to continue,” the minutes noted. “On the other hand, the additional spending could prove short lived given that a good portion of it appeared to have occurred in relatively volatile categories such as autos.”

http://www.nytimes.com/2011/02/17/business/economy/17fed.html?_r=1&emc=na

LaoPo

Why would anyone honestly listen to anything these snake oil merchants have to say

And have they ever been right about anything ?

I find the following article far more credible than anything Ben Shalom Bernanke has to do with

How To Fake An Economic Recovery

http://www.zerohedge.com/article/guest-post-how-fake-economic-recovery

Good gosh...that website is a bit extreme.....maybe they are tied to the birthers????

[flying]

Good gosh...that website is a bit extreme.....

In what ways do you find that article extreme?

[midas]

On the other side of the ocean a "growth of 3.4 percent to 3.9 percent this year" is expected in the USA:

February 16, 2011

Fed Substantially Upgrades Growth Forecasts for 2011

By SEWELL CHAN

WASHINGTON — The Federal Reserve revealed Wednesday that its policy makers had substantially upgraded their forecasts for how much the United States economy will grow this year, even though they expect that unemployment will remain painfully high for some time.

The core projections of top Fed officials now call for growth of 3.4 percent to 3.9 percent this year, up from the previous forecast of 3 percent to 3.6 percent, released in November. But the grim outlook for the job market was largely unchanged; Fed officials expect unemployment to be 8.8 percent to 9 percent this year, only slightly less than the November estimate of 8.9 percent to 9.1 percent.

Growth expectations were lifted by an improvement in consumer spending in the fourth quarter, though Fed officials were uncertain how long that would last, according to minutes released Wednesday of the Fed’s policy meeting in late January.

“On the one hand, the additional spending could reflect pent-up demand following the downturn or greater confidence on the part of households about the future, in which case it might be expected to continue,” the minutes noted. “On the other hand, the additional spending could prove short lived given that a good portion of it appeared to have occurred in relatively volatile categories such as autos.”

http://www.nytimes.com/2011/02/17/business/economy/17fed.html?_r=1&emc=na

LaoPo

Why would anyone honestly listen to anything these snake oil merchants have to say

And have they ever been right about anything ?

I find the following article far more credible than anything Ben Shalom Bernanke has to do with

How To Fake An Economic Recovery

http://www.zerohedge.com/article/guest-post-how-fake-economic-recovery

Good gosh...that website is a bit extreme.....maybe they are tied to the birthers????

or maybe perhaps the Round-Earther's

[churchill]

What happens when QE ends in June ? Rates go up / So housing crashes further / Company profits go down / Markets go down / USD falls /and so commodities up /

or have I got it wrong ?

Long term interest rate variable bonds a solution ?

from the FT http://www.ft.com/cms/s/0/e9f96e18-392f-11e0-97ca-00144feabdc0.html?ftcamp=rss#axzz1DvP7OsIx

China pull-back paints unsettling rate picture

'One proposal advocated at the meeting for diversifying the base of investors would entail the Treasury issuing new securities, including callable debt, ultra-long bonds with maturities of up to 100 years and floating rate debt, on which payments to investors would rise and fall with inflation.

These securities could appeal to domestic investors, particularly prospective retirees. They could also enjoy increased demand from banks and pension funds as a result of new international banking rules and proposed reforms to pensions accounting. The advisory committee estimates demand for long-term US bonds could reach $2,400bn in the next five years as these new rules take effect. The alternative, should yields rise sharply, could be discomforting for taxpayers.'

Edited February 17, 2011 by churchill

[craigt3365]

Good gosh...that website is a bit extreme.....

In what ways do you find that article extreme?

I didn't really read the article, couldn't get past the first few paragraphs...extreme to put it midly...perused the site and read their mission statement. Agree it is not mainstream, but a bit too off center for me. Just my humble opinion. :jap:

I spent 5 years working many of the major financial institutions based in New York City. Morgan, Goldman, Salomon, Citicorp, Deutsche Bank, etc, and many smaller ones. I did multi million dollar, multi year, global IT contracts. Signed off usually by the CEO. Met several of them personally and pretty much every CIO. Still keep in contact with these guys. They are some of the sharpest people you will ever met. Period. Even worked with the NYSE and have spent a fair amount of time on the trading floor, as our software tracked all the hardware on the floor. Met many, many traders.

I'm not saying that what happened wasn't horrible. I'm not saying they weren't greedy. I'm not saying their actions didn't help create the debacle of a few years past. But that article paints them very harshly. It takes 2 to tango. Plenty of greedy investors were there to buy whatever they could to make a few percentage points more for "their" clients (or themselves) and make themselves a bigger bonus (retirement funds managers, individual investors, etc.).

And jeeze...read the comments. Wow...these guys really believe what they write? Fake economy? Come on....

IMHO, and please accept it at that...I'm no genius...these guys were for sure given the keys to the chicken coop. They made as much money as they could given what they had. Maybe that's the problem with capitalism? Seriously?

I bet we would have a laugh re-reading some of the initial pages where people tell of the demise of the US. I've seen tons of posts. Well, didn't happen...growth is gaining momentum, etc. The sky didn't fall, the world has not come to an end.

[Naam]

Good gosh...that website is a bit extreme.....maybe they are tied to the birthers????

there... there... wasting time reading Dyler Turd's ejaculations should do be done 'cum grano salis'.

best is to keep a pound (or two) of salt handy.

[clinique]

What happens when QE ends in June ? Rates go up / So housing crashes further / Company profits go down / Markets go down / USD falls /and so commodities up /

or have I got it wrong ?

Long term interest rate variable bonds a solution ?

from the FT http://www.ft.com/cm...s#axzz1DvP7OsIx

China pull-back paints unsettling rate picture

'One proposal advocated at the meeting for diversifying the base of investors would entail the Treasury issuing new securities, including “callable” debt, ultra-long bonds with maturities of up to 100 years and floating rate debt, on which payments to investors would rise and fall with inflation.

These securities could appeal to domestic investors, particularly prospective retirees. They could also enjoy increased demand from banks and pension funds as a result of new international banking rules and proposed reforms to pensions accounting. The advisory committee estimates demand for long-term US bonds could reach $2,400bn in the next five years as these new rules take effect. The alternative, should yields rise sharply, could be discomforting for taxpayers.'

churchill i am with you .

and as for the Long Term variable interest rate bonds ????????????? A new instrument to attract investors. 100 year maturity!!! Do these guys never learn!!

The last brainwave instrument - subprimemortgages & securitisation !! well that didnt work ! Lets dream up something else, indebt the nation for 100 years and hope that works.. at least in 100 years they wont be around to answer for it !!!

[churchill]

'IMHO, and please accept it at that...I'm no genius...these guys were for sure given the keys to the chicken coop. They made as much money as they could given what they had. Maybe that's the problem with capitalism? Seriously? '

I agree

[midas]

Good gosh...that website is a bit extreme.....

In what ways do you find that article extreme?

I didn't really read the article, couldn't get past the first few paragraphs...extreme to put it midly...perused the site and read their mission statement. Agree it is not mainstream, but a bit too off center for me. Just my humble opinion. :jap:

I spent 5 years working many of the major financial institutions based in New York City. Morgan, Goldman, Salomon, Citicorp, Deutsche Bank, etc, and many smaller ones. I did multi million dollar, multi year, global IT contracts. Signed off usually by the CEO. Met several of them personally and pretty much every CIO. Still keep in contact with these guys. They are some of the sharpest people you will ever met. Period. Even worked with the NYSE and have spent a fair amount of time on the trading floor, as our software tracked all the hardware on the floor. Met many, many traders.

I'm not saying that what happened wasn't horrible. I'm not saying they weren't greedy. I'm not saying their actions didn't help create the debacle of a few years past. But that article paints them very harshly. It takes 2 to tango. Plenty of greedy investors were there to buy whatever they could to make a few percentage points more for "their" clients (or themselves) and make themselves a bigger bonus (retirement funds managers, individual investors, etc.).

And jeeze...read the comments. Wow...these guys really believe what they write? Fake economy? Come on....

IMHO, and please accept it at that...I'm no genius...these guys were for sure given the keys to the chicken coop. They made as much money as they could given what they had. Maybe that's the problem with capitalism? Seriously?

I bet we would have a laugh re-reading some of the initial pages where people tell of the demise of the US. I've seen tons of posts. Well, didn't happen...growth is gaining momentum, etc. The sky didn't fall, the world has not come to an end.

" Agree it is not mainstream " - you mean it has not been on CNN, CNBC or Bloomberg !! Well then

even more reason to believe it

[clinique]

And I spent 7 years in Private Equity, where entrepreneurs put together multi million dollar real estate deals, the banks that back them lend them 80% of the property value : which by the way just happens to be the price the entreprneurs are paying for the property; so in effect it 100% financed by the bankers with no downside for the guys putting the deal together only upside.

So when the deal goes well and they sell out a t a profit they get richer.

But when these delas go t_ts up the banks and there shareholders end up holding the bag.

Yeh - these guys are brilliant too - brilliant at using other peoples money to get rich with no risk to them selves.

[midas]

I bet we would have a laugh re-reading some of the initial pages where people tell of the demise of the US. I've seen tons of posts. Well, didn't happen...growth is gaining momentum, etc. The sky didn't fall, the world has not come to an end.

Now this is what i call an extreme web site

http://yidwithlid.blogspot.com/2011/02/ahmadinejad-claims-mid-east-riots-work.html

And if you don't know the significance of the 12th Imam I suggest you Google it

because right now today there are 2 Iranian warships about to pass through the Suez Canal

for the first time ever and sail right along the coast of Israel to " park " in Syria.

Watch those oil prices

[churchill]

No Iranian Warships Scheduled to Cross Suez Canal, Official Says

http://www.businessweek.com/news/2011-02-17/no-iranian-warships-scheduled-to-cross-suez-canal-official-says.html

[churchill]

And I spent 7 years in Private Equity, where entrepreneurs put together multi million dollar real estate deals, the banks that back them lend them 80% of the property value : which by the way just happens to be the price the entreprneurs are paying for the property; so in effect it 100% financed by the bankers with no downside for the guys putting the deal together only upside.

So when the deal goes well and they sell out a t a profit they get richer.

But when these delas go t_ts up the banks and there shareholders end up holding the bag.

Yeh - these guys are brilliant too - brilliant at using other peoples money to get rich with no risk to them selves.

and the good guys always seem to loose - This seems so in Thailand as well where money and contacts count more than justice /

Why I support Mohammed Yunus

http://www.telegraph.co.uk/finance/personalfinance/offshorefinance/8313899/Why-I-support-Mohammed-Yunus.html

[LaoPo]

No Iranian Warships Scheduled to Cross Suez Canal, Official Says

http://www.businessw...icial-says.html

Interesting.

"Israeli Foreign Minister Avigdor Lieberman said yesterday that Iran was planning to send two gunboats through the canal to Syria, which would involve sailing through the eastern Mediterranean, off Israel’s coast."

(but Egypt said there was no request made by Iran to send ships via the Suez canal)

I wonder, do Israeli Naval vessels (warships) always stay in the Mediterranean or do they also pass (sometimes) the Suez Canal; anyone knows ?

Of course Israel also has part of it's fleet in Eilat, possibly including (some of their) submarines and missile boats.

LaoPo

[Naam]

2 Iranian warships

warships... yawnn...

The Suez Canal official identified the two vessels as the Alvand, a frigate, and the Kharq, a supply ship...

[midas]

No Iranian Warships Scheduled to Cross Suez Canal, Official Says

http://www.businessw...icial-says.html

Interesting.

"Israeli Foreign Minister Avigdor Lieberman said yesterday that Iran was planning to send two gunboats through the canal to Syria, which would involve sailing through the eastern Mediterranean, off Israel’s coast."

(but Egypt said there was no request made by Iran to send ships via the Suez canal)

I wonder, do Israeli Naval vessels (warships) always stay in the Mediterranean or do they also pass (sometimes) the Suez Canal; anyone knows ?

Of course Israel also has part of it's fleet in Eilat, possibly including (some of their) submarines and missile boats.

LaoPo

" The ships, which Israel suspects are carrying weapons for eventual delivery to Hezbollah, the Lebanese Islamist organisation and ally of Iran, reportedly left the Saudi Arabian port of Jeddah two days ago and began to sail towards the strategically important canal."

I wonder if Israeli Naval vessels (warships)will ty to intercept and search them

like they did with the Gaza flotilla !

Go on i dare them to try!

[flying]

I didn't really read the article,

IMHO, and please accept it at that...I'm no genius...these guys were for sure given the keys to the chicken coop. They made as much money as they could given what they had. Maybe that's the problem with capitalism? Seriously?

I bet we would have a laugh re-reading some of the initial pages where people tell of the demise of the US. I've seen tons of posts. Well, didn't happen...growth is gaining momentum, etc. The sky didn't fall, the world has not come to an end.

I have read some of their articles & usually notice the links are good.

Like in that article they again link to www.bls.gov & at times I like to look at the UE reports etc.

Also market watch etc all interesting

I agree that it will be interesting to look back at posts in this thread in this next 12-24 months.

As for Well Didn't happen?? You were thinking it is all done? Yet not one step has been taken to repair

As for growth gaining momentum.....we have had this discussion before & I am happy you see it. I have only seen lip service

For myself I have *heard* about this growth from the lips of those who claimed no housing bubble existed...not long before the initial domino fell.

No the sky did not fall nor will it. But many folks are waiting for this promised growth..

Edited February 17, 2011 by flying

[LaoPo]

I wonder if Israeli Naval vessels (warships)will ty to intercept and search them

like they did with the Gaza flotilla !

Go on i dare them to try!

Iranian warships sailing through Suez poses prickly decision for Egypt

By Moni Basu, CNNFebruary 17, 2011 -- Updated 2119 GMT (0519 HKT)

excerpt:

The canal is an internal body of water and as such, Egypt has sovereignty over it. But Egypt also is bound by the 1976 Camp David Accords, which guaranteed the right of free passage by ships belonging to Israel and all other nations on the basis of the Constantinople Convention of 1888. Before that, Egypt did not allow Israeli ships to sail through the canal.

http://edition.cnn.c...rss_igoogle_cnn

Note: I think Iran is trying how far they can push...

Let's wait and see but I can almost predict the outcome....

LaoPo

[flying]

Classic..........Yesterday the FED said growth is looking good for 2011

Then today last weeks Unemployment numbers come out....

Seems it rose by 25,000

Jobless claims rise 25,000 last week

I guess it is more of that jobless recovery we hear so much about

– Thu Feb 17, 8:57 am ET

WASHINGTON (Reuters) – New U.S. claims for unemployment benefits rose more than expected last week, according to a government report on Thursday that still pointed at gradual labor market recovery.

Initial claims for state unemployment benefits increased 25,000 to a seasonally adjusted 410,000, the Labor Department said, partially reversing the prior week's hefty decline.

Economists polled by Reuters had forecast claims rising to 400,000. The previous week's figure was revised slightly up to 385,000, from the previously reported 383,000.

The claims data covers the survey period for part of the government's employment report for February. But the correlation between claims and nonfarm payrolls has weakened somewhat. Claims have been hovering above the 400,000 mark, a sustained breach of which is regarded by economists as signaling strong jobs growth.

A Labor Department official said there was nothing unusual in the state-level data, adding that two states had been estimated.

The four-week moving average of unemployment claims -- a better measure of underlying trends - rose 1,750 to 417,750 last week.

The number of people still receiving benefits under regular state programs after an initial week of aid edged up 1,000 to 3.91 million in the week ended February 5.

Economists had expected so-called continuing claims to rise to 3.90 million from a previously reported 3.89 million.

The number of people on emergency unemployment benefits dropped 127,386 to 3.63 million in the week ended January 29, the latest week for which data is available. A total of 9.25 million people were claiming unemployment benefits during that period under all programs.

Edited February 18, 2011 by flying

[midas]

I didn't really read the article,

IMHO, and please accept it at that...I'm no genius...these guys were for sure given the keys to the chicken coop. They made as much money as they could given what they had. Maybe that's the problem with capitalism? Seriously?

I bet we would have a laugh re-reading some of the initial pages where people tell of the demise of the US. I've seen tons of posts. Well, didn't happen...growth is gaining momentum, etc. The sky didn't fall, the world has not come to an end.

I have read some of their articles & usually notice the links are good.

Like in that article they again link to www.bls.gov & at times I like to look at the UE reports etc.

Also market watch etc all interesting

I agree that it will be interesting to look back at posts in this thread in this next 12-24 months.

As for Well Didn't happen?? You were thinking it is all done? Yet not one step has been taken to repair

As for growth gaining momentum.....we have had this discussion before & I am happy you see it. I have only seen lip service

For myself I have *heard* about this growth from the lips of those who claimed no housing bubble existed...not long before the initial domino fell.

No the sky did not fall nor will it. But many folks are waiting for this promised growth..

USA and its States States have a serious debt problems to tackle before anyone can

talk about a meaningful " recovery " and you cannot solve the problem by running away to another

State like delinquent school boys ! Unreal

And the sobering part is this is just the beginning of the cuts that must be made!

Protests in the Streets as Police Sent to Locate Missing Wisconsin Senators

http://www.associatedcontent.com/article/7767096/protests_in_the_streets_as_police_sent.html

[midas]

Note: I think Iran is trying how far they can push...

Let's wait and see but I can almost predict the outcome....

LaoPo

Well here is the latest from that " extreme " website

It's Official: Iran Says It Will Send 2 Warships Through Suez Canal

http://www.zerohedge.com/article/its-official-iran-says-it-will-send-2-warships-through-suez-canal

[craigt3365]

" Agree it is not mainstream " - you mean it has not been on CNN, CNBC or Bloomberg !! Well then

even more reason to believe it

Hard to give a site much credibility when they start off by saying "Welcome, humans...".

CNN, CNBC and Bloomberg are not the sites I would normally peruse, except to see what's going on in world...news wise...

I prefer Fox. :lol:

:jap:

[Naam]

I prefer Fox

no wine for you Craig. maid will be instructed "Faux News lovers" = tap water only!"

[midas]

" Agree it is not mainstream " - you mean it has not been on CNN, CNBC or Bloomberg !! Well then

even more reason to believe it

Hard to give a site much credibility when they start off by saying "Welcome, humans...".

CNN, CNBC and Bloomberg are not the sites I would normally peruse, except to see what's going on in world...news wise...

I prefer Fox. :lol:

:jap:

They can call the media source Sesame Street News Channel

as far as i care - as long as whatever the newscaster is telling

me makes sense that is all i care about blink:

[midas]

Note: I think Iran is trying how far they can push...

Let's wait and see but I can almost predict the outcome....

LaoPo

Well here is the latest from that " extreme " website

It's Official: Iran Says It Will Send 2 Warships Through Suez Canal

http://www.zerohedge.com/article/its-official-iran-says-it-will-send-2-warships-through-suez-canal

" The Egyptian government has received a request from Iran to allow two of its navy ships to pass through the Suez Canal, according to media reports Thursday. "We received a request this afternoon for two Iranian warships to pass through the Suez Canal. We have not yet approved it," Hossam Zaki, a Foreign Ministry spokesman told the Wall Street Journal. The decision to permit passage to the ships will be made by the military which currently runs the country in the wake of President Hosni Mubarak's resignation last week, the reports said. Israel has condemned Iran's plan to deploy warships to Syria as a "serious provocation. "

[churchill]

As the G20 meet for more talking , Good food and wine - Lagarde hopes 'everyone will be in a good mood ' to discuss amongst other things food prices - Will the French stop subsidising their Farmers ??

Did anything come from this in 2004 ??

Top WTO nations hail deal on Doha

By Frances Williams and Guy de Jonquières in Geneva

Published: August 2 2004 05:00 | Last updated: August 2 2004 05:00

* Accord puts stalled trade round back on track

* Rich members agree to cut farming subsidies

Leading trading nations yesterday applauded a breakthrough deal in the Doha global trade round, saying it would put the stalled talks back on track and revive confidence in the multilateral trading system.

The interim accord, struck by the World Trade Organisation's 147 members yesterday, commits rich countries to cutting billions of dollars in trade-distorting farm subsidies and paves the way for more open markets for agricultural products, industrial goods and services worldwide.

http://www.ft.com/cms/s/0/f23a66a6-e420-11d8-9f08-00000e2511c8.html#axzz1EIuI0OeJ