US political theater: ‘Global oligarchic elite robs middle class’

• Russia Today TV interview

First dolphins, now dead Pelicans litter Peruvian shores

 BBC: Peru examines deaths of more than 500 pelicans

A virus or seismic oil exploration are being examined as possible causes

Continue reading the main story

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• Peru dolphin deaths mystery
• Peru country profile

The government of Peru is investigating the deaths of more than 500 pelicans along a 70km (40-mile) stretch of the country's northern coast.

Officials say most appeared to have died on shore over the past few days.

Scientists have also found the carcasses of 54 boobies, several sea lions and a turtle.

They were found in the same region where some 800 dolphins washed ashore earlier this year. The cause of their death is still being investigated.

The Peruvian government said it was "deeply worried".

A preliminary report said that there was no evidence to show the pelicans had died at sea, but rather on the beach where they were found.

But it said further tests would be needed to establish the cause of death.

The Peruvian Maritime Institute (Imarpe) said so far 538 dead pelicans and 54 boobies had been found in various stages of decomposition, although most appeared to have died recently.

In addition, five badly decomposed sea lions and a turtle carcass had been found on shore, Imarpe said.

Local media reports suggest more than 1,200 dead pelicans have been found in the Piura and Lambayeque regions.

Between January and April of this year, some 800 dead dolphins washed ashore in Lambayeque, according to government figures.

Peru's Deputy Minister for Natural Resource Development, Gabriel Quijandria Acosta, said a virus might have killed the dolphins.

A viral epidemic outbreak was linked to similar deaths of marine wildlife in Peru in the past, as well as in Mexico and the United States.

Analysis on the dolphins so far suggested they had contracted a morbillivirus, which belongs to the same group as the measles virus in humans, Stefan Austermuehle of a local NGO, Mundo Azul, told the BBC.

"We know that in other cases in the United States up to 50% of populations were killed by the virus," he said.

"What we also know...is that in previous cases animals that have higher loads of pollutants in their body will fall easier victims to these kind of diseases because their immune system is weakened."

Imarpe scientists said results of tests carried out on the dead dolphins would be released in the coming days.

George Soros predicts riots, police state and class war for America

• Economic Collapse News Update April 28

From Russia Today: The following report is quote in the Economic Collapse video update embedded above. The full text of the RT report is pasted below.

• George Soros predicts riots, police state and class war for America

Billionaire investor George Soros has a new prediction for America. While it might be as dire as it gets for the financial wiz, this bet concerns more than just the value of the buck. According to Soros, there's about to be an all-out class war.

Soros, 81, previously bet against the British pound in the early 90s and made $1 billion off its collapse. In the years since, he’s remained active in investing, but also in advocacy. He’s helped keep Wikipedia afloat thanks to impressive contributions and through donations to the Tides Center, has indirectly funded Adbusters, the Canadian anti-capitalist magazine that put Occupy Wall Street on the map. Speaking to Newsweek recently, Soros neglected to acknowledge his past successes, but instead offered a word of warning: a period of “evil” is coming to the western world.

“I am not here to cheer you up. The situation is about as serious and difficult as I’ve experienced in my career,” Soros tells Newsweek. “We are facing an extremely difficult time, comparable in many ways to the 1930s, the Great Depression. We are facing now a general retrenchment in the developed world, which threatens to put us in a decade of more stagnation, or worse. The best-case scenario is a deflationary environment. The worst-case scenario is a collapse of the financial system.”

Soros goes on to compare the current state of the western world with what the Soviet Union was facing as communism crumbled. Although he would think that history would have taught the globe a thing or two about noticing trends, Soros says that, despite past events providing a perfect example of what is to come, the end of an empire seems imminent.

“The collapse of the Soviet system was a pretty extraordinary event, and we are currently experiencing something similar in the developed world, without fully realizing what’s happening,” adds Soros.

Soros goes on to say that as the crisis in the Eurozone only worsens, the American financial system will continue to be hit hard. On the way to a full-blown collapse, he cautions, Americans should expect society to alter accordingly. Riots will hit the streets, says Soros, and as a result, “It will be an excuse for cracking down and using strong-arm tactics to maintain law and order, which, carried to an extreme, could bring about a repressive political system, a society where individual liberty is much more constrained, which would be a break with the tradition of the United States.”

The recent adoption of the National Defense Authorization Act for Fiscal Year 2012 and the proposed Enemy Expatriation Act, if approved, have already very well paved the way for such a society. Under the NDAA, the US government is allowed to indefinitely detain and torture American citizens suspected of terror crimes without ever bringing them to trial. Should lawmakers Joe Lieberman (I-CT) and Charles Dent (R-PA) get their Enemy Expatriation Act through Congress, the US will also be able to simply revoke citizenship without trial, essentially removing constitutional rights from anyone deemed a threat.

Others have cautioned that, as inequality becomes more rampant in America, the country’s citizens are becoming increasingly agitated with those on the other side of the extreme. In a recent survey released by the Pew Research Center, 66 percent of the adults studied believe that either “very strong” or “strong” conflicts exist between America’s elite and the impoverished, a statistic that has skyrocketed in recent years. Between 2009 and 20011, the proportion of those that sense conflicts exist as such between the class groups grew by 19 percentage points. While less than half of Americans fearing a fight brewing at the dawn of the Obama administration, today two-out-of-three Americans feel that there is a strong conflict between both extremes of society.

Addressing the issue of inequality, Soros tells Newsweek that the main issue that will make or break a reelection for US President Barack Obama will be whether or not the rich end up being taxed more. Among the current frontrunners in the Republic Party’s race for the GOP nomination, wealth and taxes have been of the biggest concern of party rivals. The top candidates have made millions off of investments, and at a time of immense inequality, represent what 99 percent of Americans don’t. Taxing the rich to a bigger degree might finally bring a chance, and Soros says, “It shouldn’t be a difficult argument for Obama to make.”

Soros adds that if the US manages to make it through the troubled times to come, it come allow the nation to enter another golden era. “In the crisis period, the impossible becomes possible. The European Union could regain its luster. I’m hopeful that the United States, as a political entity, will pass a very severe test and actually strengthen the institution,” he tells Newsweek.

With almost seven percent of Americans living below half of the poverty line, four unemployed Americans for each job, ashrinking middle class and an increasingly overzealous police state, it could very well be a tough road to get there, though.

Austerity protests come to Canada

From Russia Today

Thousands of Canadian students protest fee hike: 85 arrested (PHOTOS, VIDEO)

Week-long demonstrations over a proposed rise in university tuition fees have erupted into violence in Quebec. Police in Montreal clashed with thousands of students who accuse the government of sabotaging negotiations for a settlement.

Riot police have so far arrested 85 people after a government exclusion of a student group from talks triggered activist ire.

Students have flooded Montreal’s streets over the past few days, up in arms over tuition fee hikes that would see costs rise by 75 percent over the next five years.

Thursday’s riots were declared illegal after demonstrators reportedly pelted police officers with projectiles and threw garbage into the streets.

Demonstrations on Wednesday quickly descended into violence with reports of student activists smashing windows and vandalizing property. Police used tear gas to bring them under control, with three officers injured in the fighting.

A police crackdown on student demonstrations on Saturday 21 also led to the arrest of at least 50 people.

The Quebec government has dismissed a student syndicate from the negotiating table following the violent riots.

Education Minister Line Beauchamp blocked a proposal to resume talks with student syndicate CLASSE on Thursday, accusing the group of promoting violence.

"We can’t ask the government to negotiate with those who use violence as a form of blackmail," Beauchamp said.

Talks are due to resume with two other groups representing university and college students on Friday.

The city’s mayor Gerald Tremblay has appealed for student activists and the local government to make peace before the situation escalates further. He cited reports of demonstrators tossing bricks into the city's subway and dropping rocks off a downtown overpass.

"Montrealers … are fed up. They don't want to go through this. This stuff always happens in Montreal. It's the same thing for the businesses affected… It's the same thing for Montreal's reputation on the world stage," he said about Wednesday night’s riots.

Student protest groups have accused the government of using a “divide and conquer strategy”, sabotaging talks. They say that a settlement was never on the cards, claiming authorities seek to divert attention from the disputed tuition fee increase with the pretext of social unrest.

Journalist Bernard Desgagne told RT that the incidents were “relatively minor,” but police were using them as an excuse “to conduct massive repression.”
“This has profound ramifications, people are very unhappy about the way their political elite are behaving and they feel that the government is not serving the people at all, it’s only serving big financial interests,” he said.

Desgagne added that people were “infuriated” by police brutality towards peaceful protesters, stressing that it would only“fuel public miscontent” and support for the student movement.

The Quebec government has proposed a rise in fees of $325 annually for the next five years, which would still make Montreal one of the cheapest cities to study in the country.

Riot police confront students during a protest April 26, 2012 in Montreal, Canada, over Quebec's plans to raise tuition (AFP Photo/Rogerio Barbosa)

Spain is the next Greece

Blogman's Notes:

Like a Salvador Dali painting, the financial world becomes more and more surreal by the day. Everything that has happened since 2008 would have led to Depression of unprecedented proportions at the very least, and more likely a complete Global Economic Collapse at any other time in history. It seems that the laws of Economics have been suspended and no matter how bad things get, the world goes along its merry way, happily oblivious of the certain consequences of the actions of the powers that be that are greatly exacerbating the problem rather than resolving it.  It is the equivalent of a person jumping off the Empire State building but seeming remaining suspended forever in mid-air rather than splatting all over the pavement like the coyote in a Roadrunner cartoon. But just like the laws of gravity cannot be suspended, neither can the laws of Economics; this game will have an end, a terrible end for the whole world, the only question is when will the end arrive? Just like a person jumping off the Empire State building with a blindfold would not know how close he is to the pavement, a blindfolded world does not know how soon it will crash and burn; all we can surmise is that it must happen, sooner now than later.

Wasn't it only last month that we were being told that Spain (and Italy) would not require a bailout? All of a sudden, we are now told that Spain is in a crisis of huge proportions! Don't be fooled: the crisis of huge proportions not only applies to Spain but to the whole world.

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(Reuters) - Spain's sickly economy faces a "crisis of huge proportions", a minister said on Friday, as unemployment hit its highest level in almost two decades and Standard and Poor's downgraded the government's debt by two notches.

Unemployment shot up to 24 percent in the first quarter, one of the worst jobless figures in the developed world. Retail sales slumped for the twenty-first consecutive month as a recession cuts into consumer spending.

"The figures are terrible for everyone and terrible for the government ... Spain is in a crisis of huge proportions," Foreign Minister Jose Manuel Garcia-Margallo said in a radio interview.

Read More

First India, now Pakistan tests long range Nuclear Ballistic Missile

Blogman's Notes:

Matthew 24:6 And ye shall hear of wars and rumours of wars: see that ye be not troubled: for all these things must come to pass, but the end is not yet.

7 For nation shall rise against nation....

It is my belief that one of the major wars of this decade will involve India and Pakistan, and it will likely be a Nuclear war.

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• Russia Today: Pakistan tests Nuclear warhead capable ballistic missile

Pakistan successfully tested a nuclear-capable ballistic missile on Wednesday. The launch comes less than a week after Islamabad’s main adversary India tested a long-range ballistic missile of its own.


Pakistan’s missile Shaheen-1A was reportedly shot southward to the Indian Ocean and managed to cover some 4,000-4,500 kilometers. This is enough to target any object on Indian territory.

Pakistan notified its neighbors of plans to perform a launch a day before the event, saying the test would take place between April 24 and 29. Authorities of Oman, Yemen and India were warned to change routes of civil air flights in the direction of Africa during these dates but the actual test was performed just a day after the warning.

Indian aviation authorities expressed regret that the warning on the test launch came at the  “last minute” but nevertheless all transport companies have been notified immediately.

On April 19 this year India test-launched its first long-range Agni-V intercontinental ballistic missile. With a 5,000km range it can target anywhere in China and even parts of Europe, not to mention neighboring Pakistan. 

Irreconcilable neighbors India and Pakistan have conducted three full-scale wars since their split from British India in 1947 (conflicts in 1947-1948, 1965, 1971). An arms test of one country usually is followed by a similar test by the other. For example after India successfully tested its first thermonuclear warhead on 11 May 1998, Pakistan replied with a series of nuclear bomb explosions on May 28, 1998.

This military handout picture dated on April 21, 2008, shows Pakistani army officers and scientists standing alongside the long-range ballistic missile, Shaheen II, or Hatf VI, before the test flight at an undisclosed location. (AFP Photo / HO / ISPR) 

India to continue to ship Iranian crude despite sanctions

(Reuters) - Indian shipping firms will continue to transport Iranian crude even if limited insurance coverage due to tightening Western sanctions leaves them financially exposed to a spill or accident, a top executive and industry sources said.

Tough new European Union sanctions aimed at stopping Iran's oil exports to Europe also ban EU insurers and reinsurers from covering tankers carrying Iranian crude anywhere in the world from July. Around 90 percent of the world's tanker insurance is based in the West, so the measures threaten shipments to Iran's top Asian buyers China, India, Japan and South Korea.

The sanctions seek to stem the flow of petrodollars to Tehran to force the OPEC member to halt a nuclear program the West suspects is intended to produce weapons.

Shipping Corp of India, which is the country's largest shipping firm, Great Eastern and other Indian tanker firms have asked state insurers to step in and provide up to $50 million in third-party liability coverage per tanker voyage.

The amount is a fraction of the typical $1 billion coverage that a supertanker carrying around 2 million barrels of crude would have from reinsurers against personal injury and pollution claims.

India's shipping companies would run the risk of shipping the crude even though they would be liable for any claims above $50 million in the case of an incident, industry sources said.

"To the best of our knowledge, over the last 10 years, none of the Indian shipping companies carrying Iranian crude oil into India has had any major incident relating to pollution or anything," Shipping Corp Chairman S. Hajara told Reuters on the sidelines of an industry conference in Singapore.

"Since there have been no claims in 10 years, we felt if we have cover of $50 million as a commercial organization it would be worthwhile for us to continue in that business."

India is the world's fourth-largest oil importer and one of the biggest customers for Iran's 2.2 million barrels per day (bpd) of oil exports. On average, there are 10 crude shipments a month from Iran to refineries on the west coast of India.

A major oil spill from one of these tankers could leave Indian shipowners liable for billions of dollars in damages.

The most expensive oil spill was the Exxon Valdez disaster in Alaska in 1989, which industry groups estimate has cost as much as $7 billion so far in clean-up, fines, penalties and claims.

"Exxon Valdez happens once in decades. If you think all your risk must be covered, then you should not be in business," Hajara said, adding that liability limits for an oil spill have extended beyond $1 billion and $3 billion for other incidents.

"We have been very clear that Indian insurance companies will have a tough task, if not impossible, to get reinsurance if the sanctions really set in. We know if we ask for a huge amount of cover we will never get it."

The biggest reinsurers are located in Europe and according to some industry experts the only way to cope with the loss of European reinsurers would be for governments of importing countries to provide federal guarantees to cover any expenses relating to personal and pollution claims.

Shipowners have asked the government for sovereign guarantees, but have not received a response, Hajara said. Indian firms, along with Japan and South Korea, have also lobbied European officials for exemptions to the EU sanctions.

India's refiners are already cutting imports to comply with a separate set of U.S. sanctions requiring Iran's crude clients to significantly cut purchases. Refiners could cut imports by about a quarter in the 2012-2013 year that began on April 1, but are keen to keep the remaining imports coming.

In the fiscal year that ended on March 31, India's imports from Iran were less than 340,000 bpd, compared with the 362,000 bpd committed under annual term contracts. India is currently importing about 280,000 bpd.

A finance ministry source said the Indian government would consider any action necessary to keep oil flowing from Iran, India's second-biggest supplier after Saudi Arabia, including offering sovereign guarantees to shipments.

Read More

Economic Collapse News Update Video Report Apr. 23, 2012

Don't be fooled by the Mainstream media's spin that all is well with the American Economy and that a major recovery is now under way. In the Globally intertwined Economy of the 21st century, if one region goes down, the other regions follow, there is no other possible outcome. The Economic Collapse is entering advanced stages now despite the positive sounding rhetoric of American politicians and Media.

• Economic Collapse News Update April 23: It's All Coming to an End

Disasters the world forgot - Haiti 2 years after the quakes

Blogman's Notes:

Whatever happened to the billions of dollars that were raised for Haiti in the largest relief effort in the history of the world? Apparently luxury resorts are being built in Haiti for rich American and French tourists. As the following video report filmed  2 years after the Earthquake that devastated Haiti in Jan. 2010 proves the lot of the poor Haitians has not improved as a result of the billions and tens of billions of dollars raised in their name. America troops, Canadian troops, international troops flooded Haiti after the quake to apparently rebuild the country yet the nations still lies in ruins even as they are building luxury resorts for rich tourists!

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• Haiti, 2 years after the Earthquake of Jan. 2010

Two years after the earthquake that devastated Haiti, the country is struggling to get back on its feet. Haiti's Prime Minister promised 2012 would be a year of reconstruction and economic recovery, but progress has been frustratingly slow. Big challenges lie ahead for recently elected President Michel Martelly: around half a million Haitians still live in makeshift tents.

Great Earthquakes in diverse places - Indonesia struck by 6 quakes overnight

Matthew 24:7 For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places. _______________________________________________________

• Indonesia struck by 6 quakes overnight

A series of earthquakes struck eastern and western Indonesia in a span of several hours on Friday night-Saturday morning, the U.S. Geological Survey (USGS) reported on its website.

The strongest, 6.6-magnitude tremor was registered at 01:16 GMT on Saturday near the north coast of Papua at a depth of 29.8 km (18.5 miles). It was followed ten minutes later by a 5.6-magnitude quake in the same location at a depth of 27.6 km (17.2 miles).

Four consecutive moderate quakes, ranging from 5.2 to 5.7 magnitude, hit off the west coast of northern Sumatra late on Friday.

There have been no reports of damage or casualties, and no tsunami warning has been issued so far.

Part of the Pacific's Ring of Fire, Indonesia is in the world's most seismically active region, registering 6,000-7,000 earthquakes with a magnitude of 4.0 or above annually.

In December 2004, a 9.0-magnitude earthquake off the coast of Sumatra triggered a giant tsunami that killed at least 230,000 people across South East Asia, the majority in Indonesia's Aceh province.

Democracy came to Egypt - Well not quite!

Blogman's Notes: 

Another revolution that was cheered by CNN and dubbed the Arab Spring is turning to a desolate Desert summer. Even as Anderson Cooper was hailing the victory of Democracy in Egypt and President Obama was congratulating the Freedom loving Egyptians, there were many that warned that Egyptians would only end up with more tyranny than ever before; that all that was happening was that a lesser evil was being traded for a greater evil. That indeed seems to be the case as the Military dictatorship is trenched even deeper in Egypt than it was under Mubarak. And it seems that another moderate Islamic country, like Libya, is about to be handed over to a militarized Islamic regime through the Muslim Brotherhood. As a result the lot of the average Egyptian is already much worse than it was under Mubarak. None of this was unplanned, it has happened perfectly by design as it did in Libya and as is happening in Syria. The Arabs are descendants of Abraham through Ishmael and what is happening in that region today has a history that goes back some 4000 years. Nothing is accidental, it is all planned on a human and non-human level, whether one believes it or not is inconsequential. Many scores are going to be settled that go back thousands of years, possibly longer and the LORD's time to settle the Controversy of Zion is at hand. 

Isaiah 34:8 For it is the day of the LORD's vengeance, and the year of recompences for the controversy of Zion.
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• ‘Egypt is on a collision course’

From Russia Today

A range of Egypt’s political forces has joined the large-scale protests against the ruling military on Tahrir Square. With the SCAF reluctant to give up power and the people still pushing for true democracy, Egypt seems to be on a collision course.

Russian Military Flights over US!

Russian Inspectors Begin Surveillance Flight Over U.S.

Tu-154. Archive

© RIA Novosti. Mikhail Melnichuk

07:33 08/04/2012

MOSCOW, April 8 (RIA Novosti)

Tags: Open Skies Treaty, Tu-154, George Bush, USA, Russia

A group of Russian military observers begin on Sunday a nine-day inspection mission in the skies of the United States under the Open Skies Treaty.

According to the Russian Defense Ministry, Russia’s Tupolev Tu-154 LK-1 will take off on Sunday from the Travis Air Force Base, located in California, while the maximum range of the flight will total 4,250 kilometers (2,640 miles).

“Russian and U.S. experts on board the plane will monitor the implementation of agreements on the use of technical equipment for the observation,” the ministry said in a statement earlier this week. 

Tu-154: a legend of civil aviation

The Open Skies Treaty, signed in 1992 at the initiative of U.S. President George H.W. Bush, established a regime of unarmed aerial observation flights over the territories of its 34 member states to promote openness and the transparency of military forces and activities.

The treaty entered into force on January 1, 2002 and its regime covers the national territories (land, islands, and internal and territorial waters) of all the treaty signatory states. It is an important element of the European security structure.

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Multimedia

• Tu-154: a legend of civil aviation

Syria on Brink of Civil War – Russian sources

Syria on Brink of Civil War – Russia

Syria faces a catastrophic civil war if both sides in the crisis that has gripped the country for over a year fail to take advantage of the current fragile ceasefire there, Russia’s Foreign Ministry said on Friday.

“A very important event in the developments in the country has come about,” the ministry said in a statement on its website. “The issue in Syria now is the choice between a transition towards peaceful, nationwide talks or a descent into civil war.”

United Nations envoy Kofi Annan’s six-point peace plan for Syria stipulated the start of a ceasefire on April 12 in a bid to stop the violence the UN says has so far claimed around 9,000 lives.

But UN Secretary General Ban Ki-moon said on Thursday that he had seen “troubling” evidence of ceasefire violations by both government troops and rebel forces. He also said Syria had failed to comply with its obligations under Annan’s peace plan to withdraw troops and heavy weapons from urban areas.

Read More

Wars and Rumors of Wars: Kings of the East Rising - India tests long range missile

Blogman's Notes:

Wars greater than any seen in recorded history are sure to come. The world in 2012 is in a far more war like mindset than at the end of the last century. This is evidenced by reports such as the ones below about India test firing a long range ballistic missile that can strike at the heart of China. And US Secretary of War, oops, Secretary of Defense, Leon Panetta warned that war is only minutes away in many regions of the world. India and China have both been built up industrially and militarily to fulfill prophecy as the 'kings of the East'.

Major wars that kill by the millions in a short period of time are an unmistakable sign of the fulfilment of End of the World Biblical prophesies. So there can be no doubt that nuclear war and wars involving even more exotic weaponry await the world in the near future, the only question is when will these wars arise?

Matthew 24:6 And ye shall hear of wars and rumours of wars: see that ye be not troubled: for all these things must come to pass, but the end is not yet.

Matthew 24:7 For nation shall rise against nation, and kingdom against kingdom: and there shall be famines, and pestilences, and earthquakes, in divers places.

Matthew 24:8 All these are the beginning of sorrows.

Revelation 16:12 And the sixth angel poured out his vial upon the great river Euphrates; and the water thereof was dried up, that the way of the kings of the east might be prepared.___________________________________________________________

• Pentagon chief: 'We're within an inch of war almost every day’

Defense Secretary Leon Panetta offered a blunt assessment of the threats facing the United States on Wednesday, saying the potential for another war breaking out remains high in places like North Korea.

“We’re within an inch of war almost every day in that part of the world,” Panetta said in an interview with CNN’s Wolf Blitzer, in response to a question about the threats in the Korean Peninsula. “And we just have to be very careful about what we say and what we do.” Read More

• India tests nuclear-capable missile that can reach China

(Re - India successfully test-fired on Thursday a nuclear-capable missile that can reach Beijing and Eastern Europe, thrusting the emerging Asian power into a small club of nations that can deploy nuclear weapons at such a great distance.

Footage showed the rocket with a range of more than 5,000 km (3,100 miles) blasting through clouds from an island off India's east coast. It was not immediately clear how far the rocket flew before reaching its target in the Indian Ocean.

The defense minister said the test was "immaculate".

"Today's successful Agni-V test launch is another milestone in our quest to add to the credibility of our security and preparedness," Prime Minister Manmohan Singh said in a message to the scientists who developed the rocket.

Almost entirely Indian-made, the Agni-V is the crowning achievement of a program developed primarily with a threat from neighboring China in mind. It will not be operational for at least two years, the government says.

Only the U.N. Security Council permanent members - China, France, Russia the United States and Britain - along with Israel, are believed to have such long-range weapons. Read More

Bailing out the Titanic - Spain will need bailout soon to the tune of 100's of Billion Euros

Blogman's Notes:

The Bailout saga in the US and EU just does not end but rather keeps getting bigger and bigger. Spain is now in line to receive 'Bailouts' after vehement denials by their Government and the IMF and EU that Spain will not need a bailout. What the implications of such a 'Bailout' or bailouts will be is anyone's guess. All we know is that the Global economy is like the Titanic that has hit the iceberg, and the crew, which would be the Bankers and Politicians are bailing as fast as they can to keep it afloat. The same Crew is telling the passengers that everything is fine and they can go back to the party, keep the good times rolling! But just as there was no chance that the Titanic could have been kept afloat even if all the Crew and passengers had bailed as fast and furiously as they could, neither is there any chance that the Global Economy Titanic will stay afloat. The only question is how long before it sinks? How many nations can be bailed out by the bailers-outers? If all it takes is to run the printing press and solve the problem, would there have been a problem in the first place?

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• When not 'If; Spain will need a Bailout with Italy not too far behind

(Reuters) - Economic experts watching Spain don't know how much money will be needed or precisely when, but some are near certain that Madrid will eventually seek a multi-billion euro bailout for its banks, and perhaps even for the state itself.

Prime Minister Mariano Rajoy has repeatedly said Spain doesn't need or want an international bailout, and the European Union, which along with the IMF has already rescued Greece, Ireland and Portugal, also dismisses such talk.

But economists believe that Spanish banks will have to turn to the euro zone's rescue fund, the European Financial Stability Facility (EFSF), for help in covering losses caused by a property market crash which has yet to end.

Likewise, investors are fretting about how Rajoy's centre-right government can enforce deep austerity while reviving a recession-bound economy at the same time.

Read More