Economic Collapse News Update – May 17, 2012
Since I have started to do more frequent updates, I figured the simplest way would be to find one source that lists daily News Reports on the Economic / Political front and offer my commentary on these reports. ZeroHedge.com is an excellent site that compiles a great deal of information on these subjects, so for the most part I will take their headlines and add my two cents worth to them. Links to the reports are included in the description and the full transcript is posted on my blog at www.Apolcalyspe2010.blogspot.com.
· As ZH warned last week, JPMorgan’s Trading Loss Is Said to Rise at Least 50% (NYT) – in my last report I suggested that there was an ulterior motive to this announcement of losses by JPM. A $2 billion loss for JPM is a drop in the bucket that could easily have been covered up but a $20 billion or $200 billion loss is another story. I think this is only the beginning of this saga, and this story is sure to get much more interesting over the coming weeks and months. The summer of 2012 will be very hot; the heat is being turned up on all matters Economic, all across the world, and by winter of 2012 expect many nations and Middle Class people to have been burnt to a crisp when they thought that all they would get is a nice suntan.
· Spanish recession bites, may be prolonged (Reuters) – Spain is in a Depression not Recession, and yes it will be prolonged, for decades if not longer!
· Obama Lunch With Boehner Ends With Standoff Over Budget (Bloomberg) – Remember the Debt Ceiling drama form a year ago? Well, it seems that that was just the introductory act; the real play will be staged closer towards election time. I would look for Obama to lose this election and President Romney to introduce harsh austerity to America. Of course this will be done to bring America back to Economic health, except it will not! Just as the heat will be turned up over the summer, the winter chill will be severe, especially if Austerrorized Americans may no longer be able to afford to heat their homes.
· Hilsenrath: Fed Minutes Reflect Wariness About Recovery's Strength (WSJ) – Well no kidding! The Fed knows very well that all it has been doing through QE 1 and 2 and Operation Twist is to dance around the problem even as the problem keeps on getting bigger and bigger. Unless Bernanke is the biggest fool that ever lived (being an ex-Princeton professor, he may well be); but in reality he has to know to true state of the Economy and how close we are to a total implosion of the US and Global Economy. So is it any surprise that the Fed is expressing wariness at the strength of the recovery? What are they smoking there at the Fed to even suggest there has been anything close to resembling a recovery?
· N. Korea Ship Seizes Chinese Boats for Ransom, Global Times Says (Bloomberg) / this seems to be another one of those ‘Propaganda’ stories put out there to serve the plans of the elitist warmongering Global cabal. North Korea could no more take on China than a newborn could take on Hulk Hogan. It is more likely that the moon is made out of cheese than N. Korea is a threat to anyone; not even to S. Korea or Japan, let alone the US or Europe. N. Korea was intentionally created to be the boogeyman in that region, and the corrupt leaders of that country certainly play their part in maintaining that illusion.
· Greece Plans for June 17 Vote Under Caretaker Government (Bloomberg) / The rejection of the German Austerity plan by Greeks is another manufactured crisis. Greece and the Greek people are the sacrificial lambs to fulfill the plans of the Powers that be to completely collapse the Global Economy. Collapse Europe, and the Global Economy collapses. Collapse Europe and the US together, and it will be a collapse from which there never can be a recovery. A collapse that will result in major wars, revolutions, civil wars, and God only knows all the consequences that will be the result of such a collapse. However all the evidence points to the fact that the elites are not busy working to prevent the collapse but rather to cause the collapse. Greece just happens to be a convenient scapegoat to engineer such a collapse.
· Hollande turns to experience to fill French posts (FT) / Just as Obama brought real change to the American Economic model by appointing Reagan, Bush 1, Clinton and Bush 2 era bureaucrats (I’m being facetious); so too will Mgr. Hollande bring real change to Europe by keeping the same Sarkozy era bureaucrats and following the same policies. He is already comfortably in bed with Angela Merkel of Germany, so all we have in France is a little taller Sarkozy. Meet the new boss, same as the old boss!
· ECB Stops Loans to Some Greek Banks as Draghi Talks Exit (Bloomberg) / Greek banks are being massacred as Greeks withdraw their money from these banks by the billions (as they should.) Now the ECB is cutting off funding for these banks, ensuring that many of them are going to fail! As mentioned in the previous Greece story, that nation is being squeezed hard. Only problem is that have already given away all the Feta they had, and the olive trees have already been picked bare, so what are the Greeks supposed to do, give their first-borns to the EU?
· Spain Urges EU to Provide More Support (WSJ) / wasn’t it just 3 weeks ago that the Spanish President declared that Spain would not need bailouts? Yeah right! And I have beachfront property in Arizona if anyone’s interested!
· Fed’s Bullard Says Labor Policy Is Key to Cut Joblessness (Bloomberg) / how many more policies do we need to cut joblessness? Do any of the policymakers even understand that it is their policies that cause joblessness in the first place? Actual I’m quite certain that they do understand it; they say one thing but they do the exact opposite. They keep talking about how they want a recovery, how they want more jobs, more prosperity but anyone that has been keeping track understands clearly that their policies have only exacerbated the problems. Since even Princeton profs can’t be that stupid, we have to conclude that whatever the real consequences, such as joblessness, rampant inflation and loss of sovereignty that are being felt by people across the Globe are the consequences that are intended to be the result of such policies. It is all being done by design! You are the target if you are not one of the .1%; and just because you may feel secure today in America or Australia or Germany or one of the other regions of the world that have not yet been decimated, just wait, your turn is sure to come, and it may be coming sooner than you think!
Till next time this is Paul Sandhu. Remember, Life is not the Economy but most of us have lived life as if it was the Economy; it is high time for us to disengage from the Rat Race. In order to do that we have to have a clear understanding of what is happening in the Economic / Political realm of the world we live in; I hope these updates are helpful in gaining better understanding of our world than that which the mainstream media provides.