News Events and Links I’m Following 6/15/09
The Coming Economic Collapse and the Second American Revolution
Some of the facts that should be plain that clearly show that revolution and economic collapse are coming:
1. 15% of all subprime mortgages were foreclosed in May with foreclosure rates climbing. Alan M. White of the Valparaiso Law School.
2. The Federal Reserve needs to “borrow up to $3.25 trillion in the fiscal year ending Sept. 30″. Bloomberg
3. China has agreed to buy only 200 billion of Treasury T Bills (sold to finance the debt) total next year, while the oil exporting nations and the rest of the world have agreed to buy 300 billion total. This leaves over 2 trillion dollars that domestic investors will have to buy to float the deficit of the fiscal year that starts September 30th. Congressional Budget Office (After private investors had their private investments taken by the Government and the Unions in the Chrysler and General Motors deal, the experts say that the vast majority of the T Bills will not be sold, meaning the Government will have to print the money monetizing the debt)
4. Dozens of US cities (Like Flint Michigan) may have to bulldozed entire neighborhoods “as part of drastic “shrink to survive” proposals being considered by the Obama administration to tackle economic decline in the nation’s cities.” London Telegraph
5. Democrats in Congress hid a $100 billion bail out of the world’s credit system by the International Monetary Fund, tucking it into the war supplemental intended for operations in Afghanistan, Pakistan, and Iraq, according to lawmakers’ aides quoted in a Reuters report.
6. “I will tell you what the problem is,” Collin Peterson (Democratic Chairman of the Agriculture Committee) told the New York Times, “they give three times more money than the next biggest group. It’s huge the amount of money they put into politics. The banks run the place (US Congress).”
7. “And the banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. And they frankly own the place,” Democratic Senator Dick Durbin
8. “After yesterday’s widespread announcement of a “new world order” by the world’s media, “The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity.” Ambrose Evans-Pritchard of London Telegraph
9. “Toxic Asset Plan Will Leave The Same Amount Of Toxic Assets In The System, But With the Taxpayers Now Liable For Most Of The Losses” Financial Times
10. “The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.” This is three times the actual Bush deficit in spending in the first 100 days of President Obama’s Presidency. Bloomberg
11. “Health-care overhaul legislation being drafted by House Democrats will include $600 billion in tax increases and $400 billion in cuts to Medicare and Medicaid, Ways and Means Committee Chairman Charles Rangel said.” June 12, Bloomberg
12. Across the country growing numbers of tax payers are stating that they will not pay anymore taxes. Promising to not file and just to refuse to pay, growing numbers of US tax payers have said enough is enough; “We Are Not ATMS!”
13. The Tea Party movement continues to grow, as the anger of the American people over government waste; The Tea Party Movement Grows & The Tea Party Movement Grows 2
On the Streets of China, Electric Bikes Are Swarming
Right now the future buzzes along at a sedate pace. Government regulations limit the top speed of e-bikes to about 12 mph. But manufacturers are building bigger and bigger machines with speed regulators that are easily removed. E-bikes that are basically pedal-powered machines with an electric boost are common in cities like Beijing and Shanghai, but e-scooters with heavier motors and top speeds of around 30 mph, fast enough to rival mopeds, are growing in popularity.
The e-bike boom owes much to Chinese policy. The government made developing e-bikes an official technology goal in 1991. Major Chinese cities have extensive bicycle lanes, which means riders can avoid the worst of rush-hour congestion.
Indeed, as engineers around the world scramble to create eco-friendly, plug-in electric cars, China is already ahead of the game. Says Frank Jamerson, a former GM engineer turned electric-vehicle analyst: “What’s happening in China is sort of a clue to what the future will be.”
Don’t Call What Happened in Iran Last Week an Election
It was a crudely stage-managed insult to everyone involved.
The BBC says clashes between demonstrators and police in Tehran are the most violent in a decade.
Below are thousands of Iranians chanting not “Death to America” or “Death to Israel,” but “Death to the Government.”
Oppressive governments that face ferocious resistance in the streets often don’t last very long. The Islamic Republic regime has been durable so far, and reports of its imminent demise have been premature, but there is only so much it can withstand.
Hatred, chaos and savage beatings in Tehran
He was surrounded and pleading for them to stop but six men with clubs, batons and metal rods kept battering a young Iranian man with ruthless force. The swing that keeps replaying in my head was the black baton that smashed the man in the skull behind his left ear.
Seconds earlier the man had dared to stand up to the baton wielding men because they had shoved a 14-year-old girl. For his chivalry he got one of the most savage beatings I have ever seen at the hands of four Iranian riot policemen and members of the Baseej, Iran’s plain clothed volunteer militia.
“To hell with Iran,” he said as he sat beaten and battered along the sidewalk. “This is not my government. This is not my country.”
A grown man who watched the beating burst into tears.
This was a glimpse of the ugly aftermath of Iran’s presidential elections, which sparked outrage among supporters of candidate Mir Hossein Moussavi.
Moussavi’s backers are calling President Mahmoud Ahmadinejad’s landslide victory a sham. They’re demanding the vote be annulled. The government’s response has been a ruthless and violent crackdown.
Matt said,
June 16, 2009 at 9:37 am
Awesome post, you definitely know what you