Culture wars, domestic strife, crimes, and misdemeanors
By William L. Anderson
Yesterday the world witnessed a new and more severe outbreak of violence in Greece. Youths and union members clashed with police in a riot complete with tear gas, flash grenades, molotov cocktails, and tens of thousands of protestors.
What, exactly, were they rioting about? The answer is actually quite simple. They don't like the austerity being imposed on them by a government desperately seeking to find some sort of fiscal discipine, something to which neither the government nor the public sector workers are accustomed.
By Gerald Celente
What had happened to that rebellious Yankee spirit and the American mind? Could it have been the food that overstuffed and immobilized them?
By Butler Shaffer
We cannot solve our problems with the same thinking we used when we created them.
~ Albert Einstein
A Republican candidate running for Congress in Texas has set many minds and mouths atwitter with his suggestion that, should state tyranny ever become a problem in America that could not be resolved by political means, the use of violence, while "not the first option," would be "on the table."
By Thomas Sowell
Somebody eventually had to say it – and German chancellor Angela Merkel deserves credit for being the one who had the courage to say it out loud. Multiculturalism has "utterly failed."
Multiculturalism is not just a recognition that different groups have different cultures. We all knew that, long before multiculturalism became a cult that has spawned mindless rhapsodies about "diversity," without a speck of evidence to substantiate its supposed benefits.
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[[wysiwyg_imageupload:243:]]By JR Nyquist
War is bad, and everybody wants peace. Well, almost everybody. There are, we must admit, people who want to wipe out their neighbors, dominate the planet, or take possession of high-end real estate. But setting these exceptions aside, most of us would like to believe that no serious wars will occur in the foreseeable future; for as all children know, there is a Peace Fairy, who inspires many high officials of the U.S. government.
The Peace Fairy is a cousin of the Tooth Fairy. He attaches to people of childish political disposition who entertain utopian notions. The British essayist and biographer, Thomas Carlyle, referred to such people in a book titled Characteristics. He said that their "generous Affections have become well-nigh paralytic," being subject to "the reign of Sentimentality." They are also quite arrogant, believing themselves morally superior. According to Carlyle, "the luxury of doing good; charity, love, self-forgetfulness, devotedness and all manner of godlike magnanimity -- are everywhere insisted on, and pressingly inculcated in speech and writing, in prose and verse...."
Just like out of a Tom Clancy novel, it looks like the head of China's Central Bank, Gov. Zhou Xiaochuan has fled the country? The reason? A $430 billion dollar loss on treasuries. Could this be the first leak in the dam? We think it just might. Why would such a high profile guy be on the run? Consider that Madoff is spending the rest of his life in jail for a ponzi scheme. We don't think the Chinese justice system will be sofriendly to Mr. Xiaochuan. Consider a few things:
China's U.S. debt holdings is at about $843.7 billion, and according to the latest reports by the Treasury department, they have lightened up in June (by 24 billion) and then May (by 32.5 billion).
That is over a 50% haircut.
What happens when (not if) the Chinese start to dump? As famed investor Jim Rogers recently stated, "Head for the hills!" What exactly would it look like? Hard to say. But we will take a stab.
Watch interest rates hit double digits, really, really fast. As interest rates climb, whatever borrowing is left will cease. Business will crumble, unemployment will explode. Not a pretty picture.