Monthly Archives: July 2013

Iran and Iraq, BFF (Best Friends Forever)?

"Why did Iraq invade Iran in 1980? A major reason was the fact that Iraq's majority is Shiite. Let's not forget that the majority of Iran's citizens associate themselves with the Shi'a branch of Islam. Remember Saddam Hussein? Well he was a Sunni, and the Sunnis were in control in Iraq. Saddam Hussein and the Iraqi military were backed by the US, Britain, and other Western countries. Saddam invaded Iran to establish Iraq as the dominant Gulf state, and to also suppress the Shi'a majority from revolting in Iraq. Now the government of Iraq is ruled by Shiites. The government of Iran is also Shi'a dominated, with the majority of the population being Shiite." Continue reading →

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Afghanistan Audits Reveal Billions in U.S. Taxpayer Waste

"As the U.S. prepares to withdraw troops from Afghanistan, the government watchdog charged with overseeing nearly $100 billion in contracts to reconstruct the country has found almost $2 billion in potential waste, fraud and abuse in the last three months alone — some of which has likely led to the deaths of American servicemen and women, according to the agency’s reports. The string of alleged violations includes phantom projects, improperly awarded contracts, aborted projects, deserted construction, a general lack of transparency to comprehensively oversee projects and, in one instance, building a $34 million military facility that will never be used." Continue reading →

Continue ReadingAfghanistan Audits Reveal Billions in U.S. Taxpayer Waste

James Corbett with Sibel Edmonds: Gladio Revisited

"As one of the most thoroughly-documented examples of a decades-long program of officially-sanctioned false flag terror, Operation Gladio remains a woefully under-reported piece of the War on Terror puzzle. Today we go behind the trite summarizations of this program to look at it in-depth, examine its roots, and discover how it is continuing to operate right through to the present day." Continue reading →

Continue ReadingJames Corbett with Sibel Edmonds: Gladio Revisited

How The Establishment Will Attempt To Bring Down The Liberty Movement

"It is the most dedicated and the most uplifting of activists that the system tends to target in order to demean the core strength of the overall movement and tarnish its reputation. A recent and malicious example is the subversive electronic planting of false evidence in an attempt to connect organizations like Oath Keepers, We Are Change, and PANDA to illicit and illegal pornographic materials. This is only one method of attack in the arsenal of slander and destabilization, and while the culprits behind the action are not yet known, the strategy is very similar to government run demonization campaigns of the past (just read up on the history of Cointelpro)." Continue reading →

Continue ReadingHow The Establishment Will Attempt To Bring Down The Liberty Movement

JPMorgan Chase stops trading ‘non-financial’ commodities amid federal pressure

"JPMorgan Chase & Co is exiting physical commodities trading, the bank said in a surprise statement on Friday, as Wall Street’s role in the trading of raw materials comes under unprecedented political and regulatory pressure. After spending billions of dollars and five years building the banking world’s biggest commodity desk, JPMorgan said it would pursue 'strategic alternatives' for its trading assets that stretch from Baltimore to Johor, and a global team dealing in everything from African crude oil to Chilean copper. The bank said it will continue to trade in financial commodities such as derivatives and precious metals." Continue reading →

Continue ReadingJPMorgan Chase stops trading ‘non-financial’ commodities amid federal pressure

Ageing population pushes welfare bill to crisis point

"In a report released tonight, the Organisation for Economic Cooperation and Development said that the proportion of GDP spent on jobseekers’ allowance, pensions and other 'public social spending' stood at 23.8 per cent — the same as it was in 2010. The Paris-based think tank warned that unless action was taken to cut the cost to the state of Britain’s rapidly rising elderly population, the health and pensions systems could collapse. Ddespite broadly positive signs, economic activity is still well below the level enjoyed before the financial crisis and Britain faces years of austerity and uncertainty." Continue reading →

Continue ReadingAgeing population pushes welfare bill to crisis point

Seven killed, hundreds injured in new round of dueling protests in Egypt

"At least seven people were killed and hundreds wounded in scattered violence across Egypt during mass rallies for and against the army’s overthrow of Islamist President Mohamed Mursi, who was placed under investigation for murder. With hundreds of thousands taking to the streets on Friday, the new bloodshed deepened the turmoil convulsing the Arab world’s most populous country, and could trigger a decisive move by the military against Mursi’s Muslim Brotherhood. The country of 84 million people forms a bridge between the Middle East and North Africa and receives $1.5 billion a year in mainly military aid from Washington." Continue reading →

Continue ReadingSeven killed, hundreds injured in new round of dueling protests in Egypt

Eric Margolis: Japan Must Face Up To China

"The 1960 US-Japan Security Treaty laid the foundation of relations between Washington and Tokyo. [...] The key to the treaty was the establishment of permanent US air, land, and sea bases in Japan. They remain, half a century later. Japan thus became a giant US aircraft carrier from which it dominates highly strategic North Asia. In exchange, Japanese industry was given open access to the US market, thus laying the base of Japan’s economic upsurge of the 1960’s. South Korea enjoyed a similar deal. This cozy arrangement is now being challenged by the rapid rise of China’s military and economic power." Continue reading →

Continue ReadingEric Margolis: Japan Must Face Up To China

Paul Craig Roberts: The Two Faux Democracies Threaten Life On Earth

"The Pentagon’s 'AirSea Battle' and Lieber and Press’ article in Foreign Affairs have informed China and Russia that Washington is contemplating pre-emptive nuclear attack on both countries. To ensure Russia’s inability to retaliate, Washington is placing anti-ballistic missiles on Russia’s borders in violation of the US-USSR agreement. Because the American press is a corrupt government propaganda ministry, the American people have no idea that neoconized Washington is planning nuclear war, or of former President Jimmy Carter’s recent statement, reported only in Germany, that the United States no longer has a functioning democracy." Continue reading →

Continue ReadingPaul Craig Roberts: The Two Faux Democracies Threaten Life On Earth
Read more about the article Municipal Bonds are failing, Merideth Whitney has been right all along. Unions, Civil Service Salaries – Pensions are destroying Cities, Counties, and States, not to mention the federal government.
The Arizona Sentinel

Municipal Bonds are failing, Merideth Whitney has been right all along. Unions, Civil Service Salaries – Pensions are destroying Cities, Counties, and States, not to mention the federal government.

UPDATED: July 18, 2013

Many local governments across the U.S. face steep budget deficits as they struggle to pay off debts accumulated over a number of years. As a last resort, some filed for bankruptcy.

Governing is tracking the issue, and will update this page as more municipalities seek bankruptcy protection.

Most recently, Detroit became the largest municipality in U.S. history to file for bankruptcy. The state had already appointed an emergency financial manager for the city, saddled with debts totaling an estimated $18 billion.

Overall, though, bankrupt municipalities remain extremely rare. A Governing analysis estimated only one of every 1,668 eligible general-purpose local governments (0.06 percent) filed for bankruptcy protection over the past five years. Excluding filings later dismissed, only one of every 2,710 eligible localities filed since 2008.

The majority of filings have not been submitted by bankrupt cities, but rather lesser-known utility authorities and other narrowly-defined special districts throughout the country.

Continue ReadingMunicipal Bonds are failing, Merideth Whitney has been right all along. Unions, Civil Service Salaries – Pensions are destroying Cities, Counties, and States, not to mention the federal government.