Global Economy Bursting?

[Randolph Kinney]

The Hunt for Jobs Sends the Irish Abroad, Again

http://www.nytimes.com/2010/11/21/world/europe/21irish.html?nl=todaysheadlines&emc=a25

Another generation of Irish people (the children and future taxpayers) scatter across the globe to escape desperate times. Where are they going? Where the jobs are - Australia, Canada, New Zealand, the United States, Britain and even the Middle East and Asia.

So how is the Irish government going to pay for all those benefits that were to be paid by the prime working class and future generations? Higher taxes?

One way to reduce unemployment is to export it. It is the Mexico model - get a job outside the country and send money home to the family and parents.

 

[Big ole Boy]

Who is Jon's Hitler

REPORT ON THE STATE OF THE REVOLUTION: November 15-20, 2010
[.
. I watched two TV interviews of these two authors one with Charlie Rose and one with Jon Steward. Rose is an establishment liberal and Steward a radical liberal show hosts. .
[.SIZE]

In that Jon Stewart interview on the Daily Show ...... Jon starts the conversation with the people who wrote that new book ......

....Jon starts it out with ... "First, Kill Hitler" .........

...who is Jon's Hitler?

 

[Cigar]

Involved in all of this is redistribution of wealth to the third world, the UN IPCC has now come out and said that Climate Change wasn't about climate at all, but about redistribution of wealth to the third world.

Climate policy has almost nothing to do anymore with environmental protection, says the German economist and IPCC official Ottmar Edenhofer. The next world climate summit in Cancun is actually an economy summit during which the distribution of the world's resources will be negotiated.

That will change immediately if global emission rights are distributed. If this happens, on a per capita basis, then Africa will be the big winner, and huge amounts of money will flow there. This will have enormous implications for development policy. And it will raise the question if these countries can deal responsibly with so much money at all.

"First of all, developed countries have basically expropriated the atmosphere of the world community. But one must say clearly that we redistribute de facto the world's wealth by climate policy. Obviously, the owners of coal and oil will not be enthusiastic about this. One has to free oneself from the illusion that international climate policy is environmental policy. This has almost nothing to do with environmental policy anymore, with problems such as deforestation or the ozone hole."

- Ottmar Edenhofer, Co-Chair of IPCC
Neue Zürcher Zeitung, 14 November 2010¹

http://thegwpf.org/ipcc-news/1877-i...licy-is-redistributing-the-worlds-wealth.html

 

[Austin]

In reference to my last post on the state of the economic situation and Cigar’s above post a few comments: The big headline in the week of Nov 20-25, 2010 was the sexual groping & assaults at airports of passengers by TSA thugs. I have a different take on what is behind and driving these assaults by government agents and it is not to protect the public against terrorism. It is about destroying the American airline industry that use huge quantities of oil from which they get their jet fuel. It is also about lowering the standard of living for Americans by making them stay home and cut travel miles. That wealth is needed in 3rd world countries and in their mind is being squandered away in needless flitting around the globe by spoiled Americans who have had it too good for too long in their view.
Why would they do this? Just as Cigar referenced in his above posts-to transfer wealth to the third world economies. This is the progressive crowd at work and don’t doubt it for a minute. If you own any airline stocks my advice is to sell it fast because in a year it will be worthless. The American people are like sheep being hurded to the shearing pens.

 

[Randolph Kinney]

The shortcoming of the IPCC Climate Hoax is that transferring wealth from countries that create it to countries that don't have the capability to sustain it means they are doomed in the long run. Socialism works as long as you don't run out of other people's money. The alternative is to print the money and use it to pay those countries for their natural resources.

On the individual level, borrowing to pay for your consumption beyond your means works as long as any lender lends you the money. In the long run, no one will lend you any money so you have to default on your debt and reduce your spending to your ability to produce a level of income that supports your spending.

 

[Randolph Kinney]

QE 2 is not meant to raise inflation although that was a stated goal. The real reason is a slow motion bank collapse with the growing recognition of the worthlessness of the banks’ mortgage portfolios. If banks boost their lending and resume buying Treasuries, then the FED's QE 2 should work to reignite the bull move in stocks. IF foreign central banks continue buying U.S. Treasury debt, then that will be signaled by strong moves in stocks, bonds, and commodities.

If buyers of U.S. Treasury paper back away, all *ell will break lose. The FED is slated to buy a total $105 billion of Treasury paper by the end of the month with another $10 to $13 billion in FED cash hitting trading accounts next week, a week before the holiday week.

Look to the markets the first week of December for the reality of how sick the too big to fail banks really are.

 

[Caterina Platt]

Austin,

I'm in the same plain on that train of thought from earlier this week, however my gut feeling was that it was in effort to bring the airline industry to it's final last breath and nationalize it, thus gaining government control of our most important means of transportation. It also serves to demean and 'train' the populace even further.

Hadn't considered the redistribution of natural resources aspect. That is true.

 

[Big ole Boy]

I just discovered Utube .... I had no idea ....

.... people are through ...... with cable ...

..... Utube is fantastic .......

.... I feel like I can reach my brainwashed TV family with Utube ......

 

[Austin]

NKorea's military command vows 'merciless' military strike against SKorea...

The Achilles Heel of Progressivism: The Unions, Muslim Terrorists and now North Koreans know the Achilles Heel of Progressivism-War and acts of Terror. Progressives just can’t deal with it. Just not part of their lexicon. They invite violence and acts of terror by their inability to cope with it. Terror makes the weakest strongrest and levels the playing field. If you threaten to blow up an airline they respond by sexually assualting children and old women at airports with union thugs. Shell an Island and they send food aid by the train loads and give you what you want.
Then too, the Progressives have tried all the old Depression remedies they have been preaching for the last 70 years and they didn’t work as advertised and they only have one bullet left. WWII cured the depression so maybe WWIII will get us out of this slump. At least it will give them cover to avoid the blame. Do you think?
If this war breaks out it should be the nail in the coffin of the global economy. Just another little unintended consequence they didn't factor in.

 

[Randolph Kinney]

Greece's Government May Shut Down on Cash Shortage

http://www.bloomberg.com/news/2010-...own-on-cash-shortage-high-frequency-says.html