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Saturday, July 02, 2011

Greece should "tell the IMF and EU to go to hell"

our super-rich, elites, their banksters and governmental puppets are bound and determined to continue stomping out any semblance of a middle class and any trace of a social contract anywhere they might still exist... since there are still a few governments that take the responsibility to foster the common good seriously, they must be set up and dispatched expeditiously... knocking over greece, a country at the forefront of populism and democracy for well over 2000 years, is the first european domino to seriously totter and it looks like it's going to fall... yes, and then there's italy, spain, ireland and portugal...
Plan to Spoon-Feed Greece to Death

The original bailout was 110 billion Euros, now it takes another $85 billion (and counting). When the fire sale of Greek assets does not bring in enough money, the banks and IMF will place even harsher terms on Greece.

Notice the plan to spoon-feed payments to Greece in 12 billion-euro bites while demanding "progress". This will ensure Greece is sucked dry (at fire sale prices) of any government assets worth owning by the time the "bailout" is over.

Portugal, and Ireland should make note of the process. The same "bailout" plan will be used on them unless they tell the IMF and EU to go to hell.

note to those of you in germany who might be looking on smugly and thinking about how well your economy is doing relative to the rest of the eu and the world... don't think for a minute that you're immune... your plan simply hasn't yet been put in motion...

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posted by profmarcus at 7/02/2011

Thursday, August 12, 2010

Headin' back on the road

tomorrow i head out once again... i'll be spending time with a friend in macedonia for a couple of days before heading off for greece and the beaches of the halkidiki peninsula with her and her family... i'm curious to see what's happening on the ground in greece, one of the most distressed of the euro zone p.i.i.g.s. (portugal, ireland, italy, greece and spain) countries...
Greek Recession Deepens

The Greek economy contracted sharply in the second quarter ... The national statics service Ellsta said Thursday that second-quarter gross domestic product fell 1.5% on a quarterly basis, weaker than forecasts of a 1% drop and the 0.8% fall in the first quarter.

Jobs data for May, meanwhile, revealed persistently high unemployment, which ticked higher to 12% from 11.9% in April.

hopefully, the greeks will hold off on any full-blown street riots until i depart on the 27th... 'course, i'll be heading to kosovo from there, not exactly a hotbed of prosperity...

p.s. note that greece is struggling with a 12% unemployment while we here in the u.s. are hovering between 9 and 10 (at least according to OFFICIAL stats)... not that far off, eh...?

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posted by profmarcus at 8/12/2010

Friday, June 04, 2010

Talk about an understated headline

check it out...
U.S. Adds Jobs in May, but Private Hiring Disappoints

so... not good news, for sure, but certainly not disastrous either, right...?
A shadow fell across America’s economic recovery on Friday, as the Labor Department’s monthly report showed that private sector job growth was considerably weaker than expected.

The headline numbers suggested a reason to be optimistic — employers added 431,000 jobs and the jobless rate fell to 9.7 percent from 9.9 percent in April.

wrong...
But the underlying numbers showed that almost all of the job growth came from the 411,000 workers hired by the federal government to help with the Census. Most of those jobs will disappear in a few months.

By contrast, the private sector created 41,000, far short of expectations of 150,000 to 180,000 jobs. And the number of long-term unemployed, those who out of work for 27 or more weeks, remained at its highest rate since the Labor Department began collecting such data in the 1940s.

how about a headline a little bit more in line with the truth, like this one for instance...

Long-term unemployment remains highest since the 1940s

our precious stock market isn't easily fooled, however...
The markets were sent skidding immediately after the opening, after the Labor Department’s report on job growth in May fell short of expectations.

[...]

The Dow Jones industrial average closed below 10,000 for the third time this year, ending at 9,931.22, down 324.06, or 3.2 percent. It was the Dow’s lowest close in almost four months. The Standard & Poor’s 500-stock index was down 3.4 percent, and the Nasdaq composite declined 3.6 percent.

ya gotta love that "short of expectations" part... no shit...

but it ain't only the labor market stats that are weighing things down... no sir...
The euro also continued its decline, dropping to less than $1.20 on concerns about the fiscal troubles in Europe.

While the markets have been bedeviled for weeks by worries mostly over debt problems in Spain, Portugal and Greece, the boundaries of the problem shifted to Hungary after its government sent worrying signals about its finances. Investors fled the country’s assets, and the euro slipped to $1.1992 in afternoon trading in London, its lowest level since March 2006.

our so-called news media, no doubt responding to the urging of our super-rich elites, continue to try to paper over the deepening world financial crisis... but no matter how much they try to soft-pedal it, things just ain't gettin' better...

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posted by profmarcus at 6/04/2010

Wednesday, April 28, 2010

The European debt crisis is far from over and is far from just "European"

i was sitting in the "breakfast" room of a motel on the california side of donner pass this morning watching today's matt lauer and his fellow-airheads deliver non-news news and reflecting on just how much shit we're fed at a time when there are more critically important things happening in the world than at any other time in my 62 years... the global financial house of cards continues its slow-mo train wreck but we're treated to martha stewart's tips on making bruschetta...
The head of the International Monetary Fund has warned that the crisis in Greece could spread throughout Europe.

Dominique Strauss-Kahn said that every day lost in resolving Greece's problems risks spreading the impact "far away".

World financial markets, recovering slightly on Wednesday, have been badly hit by fears of contagion from Greece.

Mr Strauss-Kahn was speaking at a news conference in Berlin after trying to persuade reluctant German politicians to back the terms of a rescue deal.

But even as politicians were trying to resolve the crisis, Europe's debt problems were flaring elsewhere.

The Standard & Poor's ratings agency delivered more bad news by downgrading Spain's debt to AA from AA+.

yeah, i know... it's very old news that we don't get real news... our "news" outlets are 100% dedicated to keeping us pleasantly sedated with fluff and inconsequential nonsense... right now, for instance, i'm sitting in a rest area just west of the donner pass summit (i was turned back because they're requiring chains on all four truck wheels and all four trailer wheels and i have no intention of buying any), listening to npr out of sacramento present a "story" on ballroom dancing... god, we are sooo-o-o-ooooo screwed...

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posted by profmarcus at 4/28/2010

Tuesday, April 27, 2010

Greece, Portugal, Spain and the U.S. stock market

hey... we're talking globalization here, right...?
Greece’s credit rating was lowered to junk status Tuesday by a leading credit agency, a decision that rocked financial markets and deepened fears that a debt crisis in Europe could spiral out of control.

[...]

“This is a signal to the markets that the situation is deteriorating rapidly, and it’s not clear who’s in a position to stop the Greeks from going into a default situation,” said Edward Yardeni, president of Yardeni Research. “That creates a spillover effect into Portugal and Spain and raises the whole sovereign debt issue.”

and here comes that pesky globalization thingy...
Stocks tumbled Tuesday in a global sell-off after Standard & Poor's downgraded the credit ratings of Greece and Portugal.

The Dow Jones industrial average lost 213.04 points, or 1.9 percent, to close at 10,991.99, while the broader Standard & Poor's 500-stock index fell 28.34, or 2.3 percent, 1183.71. The tech-heavy Nasdaq dropped 51.48, or 2 percent, to 2471.47.

Overseas markets also took heavy losses Tuesday, with London's FTSE and the Dax in Germany both down more than 2 percent.

so... whaddaya think... will THIS be the falling of the house of cards...? hmmmmm...?

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posted by profmarcus at 4/27/2010

Sunday, November 25, 2007

Extraordinary rendition, European overflights, European complicity

from the london sunday times...
THE secret flight plans of American military planes have revealed for the first time how European countries helped send prisoners, including British citizens, to the Guantanamo Bay prison camp.

Despite widespread criticism of alleged human rights abuses and torture at the US base in Cuba, a Sunday Times investigation has shown that at least five European countries gave the United States permission to fly nearly 700 terrorist suspects across their territory.

[...]

Inquiries by Ana Gomes, a Portuguese member of the European parliament, have uncovered not only more CIA flight logs but also more sensitive military flight plans, which until now have remained a closely guarded secret.

[...]

In a statement to the European parliament on the visits of CIA planes to Spain, the foreign minister Miguel Angel Moratinos has testified: "Our territory may have been used not to commit crimes on it, but as a stopover on the way to committing crime in another country."

Spain, it has now emerged, had a specific agreement with the US to allow flights and visits to Spanish airbases for American planes.

In Portugal, the foreign minister Luis Amado has said flights across his country's airspace took place "under the aegis of the UN and Nato and that Portugal naturally follows the principle of good faith in the relations with its allies". Nato's role in Guantanamo stems from a secret agreement made in Brussels on October 4 2001 by all Nato members, including Britain. Although never made public, Lord Robertson, the former British defence secretary who was later Nato's secretary-general, explained that day that Nato had agreed to provide "blanket overflight clearances for the United States and other allies' aircraft for military flights related to operations against terrorism".

the following data courtesy of ghost plane... note that 191 of these 3557 flights took place PRIOR to 9/11... i don't know what that indicates, but it sure as hell would be interesting to find out... also, if you visit the site and look at the flight plans AFTER 9/11, you will see a MAJOR shift in both origins and destinations...
The following are historic flight plans that, according to a variety of aviation sources, were filed by aircraft understood to belong to companies identified in the New York Times in May, 2005 , as operated by the CIA. Please note that all flight plans were not executed, so some of these journeys may not have taken place and the actual route of the planes may have deviated from the flight plans. Further, these planes have been used for a wide variety of purposes and a great number have no connection at all with "rendition" or other prisoner operations; the planes may also have been chartered at times for use by other agencies. The Gulfstream registered N85VM and then N227SV was identified by the Chicago Tribune as regularly chartered by the CIA. The plane was however in private ownership and many of its journeys relate to private purposes. Although I have tried to make this information as accurate as possible, it may contain errors and you should not rely on it without further checks. It is published as an aid to further research, in particular to allow others to continue to establish the whereabouts of a great number of prisoners who have gone missing. Any information on the purpose of flights indicated here would be gratefully received - Stephen Grey.
Flight 101 - 200 of 3557
Flight date Departure Arrival Plane id Details
26-04-2001FRANKFURT MAINSARAJEVON4009LDetails
30-04-2001FRANKFURT MAINAUGSBURG MUHLHAUSENN4009LDetails
30-04-2001AUGSBURG MUHLHAUSENFRANKFURT MAINN4009LDetails
03-05-2001FRANKFURT MAINSKOPJE EX LYSKN4009LDetails
03-05-2001SKOPJE EX LYSKTIRANAN4009LDetails
03-05-2001TIRANAFRANKFURT MAINN4009LDetails
07-05-2001FRANKFURT MAINVICENZAN4009LDetails
07-05-2001VICENZAFRANKFURT MAINN4009LDetails
11-05-2001FRANKFURT MAINTIRANAN4009LDetails
11-05-2001TIRANASKOPJE EX LYSKN4009LDetails
11-05-2001SKOPJE EX LYSKFRANKFURT MAINN4009LDetails
16-05-2001FRANKFURT MAINTUZLAN4009LDetails
16-05-2001FRANKFURT MAINGANDERKESSEN212CPDetails
16-05-2001TUZLASARAJEVON4009LDetails
16-05-2001SARAJEVOFRANKFURT MAINN4009LDetails
17-05-2001FRANKFURT MAINSKOPJE EX LYSKN4009LDetails
17-05-2001SKOPJE EX LYSKFRANKFURT MAINN4009LDetails
18-05-2001GANDERKESSEFRANKFURT MAINN212CPDetails
21-05-2001FRANKFURT MAINDUBLINN212CPDetails
22-05-2001DUBLINREYKJAVIKN212CPDetails
30-05-2001FRANKFURT MAINSARAJEVON4009LDetails
30-05-2001SARAJEVOFRANKFURT MAINN4009LDetails
06-06-2001FRANKFURT MAINSARAJEVON4009LDetails
06-06-2001SARAJEVOFRANKFURT MAINN4009LDetails
07-06-2001FRANKFURT MAINTIRANAN4009LDetails
07-06-2001TIRANAFRANKFURT MAINN4009LDetails
15-06-2001WRIGHTSTOWN/MC GUIREFRANKFURT MAINN379PDetails
16-06-2001FRANKFURT MAINSANAAN379PDetails
16-06-2001DULLES WASHINGTONFRANKFURT MAINN379PDetails
17-06-2001FRANKFURT MAINSANAAN379PDetails
17-06-2001SANAAFRANKFURT MAINN379PDetails
17-06-2001WHITE PLAINSHELSINKI-VANTAAN85VMDetails
18-06-2001FRANKFURT MAINWRIGHTSTOWN/MC GUIREN379PDetails
18-06-2001HELSINKI - VANTAAPARIS / LE BOURGETN85VMDetails
19-06-2001PARIS / LE BOURGETWESTHAMPTONN85VMDetails
20-06-2001FRANKFURT MAINSARAJEVON4009LDetails
20-06-2001SARAJEVOSKOPJE EX LYSKN4009LDetails
20-06-2001SKOPJE EX LYSKFRANKFURT MAINN4009LDetails
24-06-2001TETERBORO,NJ.BELFAST/ALDERGROVEN85VMDetails
28-06-2001FRANKFURT MAINSARAJEVON4009LDetails
28-06-2001SARAJEVOFRANKFURT MAINN4009LDetails
29-06-2001BELFAST/ALDERGROVETETERBORO, NEW JERSEY, NEW YORKN85VMDetails
06-07-2001FRANKFURT MAINSKOPJE EX LYSKN4009LDetails
06-07-2001SKOPJE EX LYSKTIRANAN4009LDetails
06-07-2001TIRANAFRANKFURT MAINN4009LDetails
11-07-2001FRANKFURT MAINSARAJEVON4009LDetails
11-07-2001SARAJEVOFRANKFURT MAINN4009LDetails
12-07-2001FRANKFURT MAINSKOPJE EX LYSKN4009LDetails
12-07-2001SKOPJE EX LYSKFRANKFURT MAINN4009LDetails
18-07-2001FRANKFURT MAINSARAJEVON4009LDetails
18-07-2001SARAJEVOFRANKFURT MAINN4009LDetails
19-07-2001FRANKFURT MAINTIRANAN4009LDetails
19-07-2001TIRANAFRANKFURT MAINN4009LDetails
19-07-2001SCHENECTADY COUNTY, NYBORDEAUX-MERIGNACN85VMDetails
20-07-2001GANDER INTLSHANNONN8183JDetails
20-07-2001WESTHAMPTONPARIS / LE BOURGETN85VMDetails
21-07-2001SHANNONSIGONELLA (MIL)N8183JDetails
21-07-2001PARIS / LE BOURGETSCHENECTADY COUNTY, NYN85VMDetails
26-07-2001FRANKFURT MAINSKOPJE EX LYSKN4009LDetails
26-07-2001SKOPJE EX LYSKFRANKFURT MAINN4009LDetails
02-08-2001FRANKFURT MAINSKOPJE EX LYSKN4009LDetails
02-08-2001SKOPJE EX LYSKFRANKFURT MAINN4009LDetails
06-08-2001SIGONELLA (MIL)FRANKFURT MAINN8183JDetails
09-08-2001FRANKFURT MAINTIRANAN4009LDetails
09-08-2001TIRANASKOPJE EX LYSKN4009LDetails
09-08-2001SKOPJE EX LYSKFRANKFURT MAINN4009LDetails
15-08-2001FRANKFURT MAINAUGSBURG MUHLHAUSENN4009LDetails
15-08-2001AUGSBURG MUHLHAUSENFRANKFURT MAINN4009LDetails
17-08-2001FRANKFURT MAINTUZLAN8183JDetails
17-08-2001FRANKFURT MAINVICENZAN4009LDetails
17-08-2001TUZLAFRANKFURT MAINN8183JDetails
17-08-2001VICENZATUZLAN4009LDetails
17-08-2001TUZLAFRANKFURT MAINN4009LDetails
29-08-2001FRANKFURT MAINSKOPJE EX LYSKN4009LDetails
29-08-2001SKOPJE EX LYSKTIRANAN4009LDetails
29-08-2001TIRANAFRANKFURT MAINN4009LDetails
30-08-2001FRANKFURT MAINSARAJEVON4009LDetails
30-08-2001SARAJEVOFRANKFURT MAINN4009LDetails
30-08-2001BOSTONDUBLINN85VMDetails
31-08-2001DUBLINCORKN85VMDetails
01-09-2001FRANKFURT MAINRAMSTEINN8183JDetails
01-09-2001RAMSTEINANKARA / ESENBOGAN8183JDetails
02-09-2001ANKARA / ESENBOGATASHKENT / YUZHNYN8183JDetails
03-09-2001CORKSLIGON85VMDetails
04-09-2001CONNAUGHTLONDONDERRY / EGLINTONN85VMDetails
05-09-2001LONDONDERRY / EGLINTONBEDFORD/LAURENCE G. HANSCOM FIELD, MASSACHUSETTSN85VMDetails
06-09-2001FRANKFURT MAINSKOPJE EX LYSKN4009LDetails
06-09-2001SKOPJE EX LYSKTIRANAN4009LDetails
06-09-2001TIRANAFRANKFURT MAINN4009LDetails
07-09-2001FRANKFURT MAINSARAJEVON4009LDetails
07-09-2001SARAJEVOFRANKFURT MAINN4009LDetails
12-09-2001FRANKFURT MAINSARAJEVON4009LDetails
12-09-2001SARAJEVOFRANKFURT MAINN4009LDetails
13-09-2001TASHKENT / YUZHNYRAMSTEINN8183JDetails
13-09-2001TASHKENT / YUZHNYFRANKFURT MAINN8183JDetails
14-09-2001FRANKFURT MAINRAMSTEINN8183JDetails
14-09-2001RAMSTEINBAKU/BINAN8183JDetails
14-09-2001DULLES WASHINGTONATHENS/ELEFTHERIOS VENIZELOSN379PDetails
15-09-2001ATHENS/ELEFTHERIOS VENIZELOSISLAMABADN379PDetails
16-09-2001LUTONGENEVE COINTRINN85VMDetails

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posted by profmarcus at 11/25/2007