23/07/2011

7/23 MUNICIDE ALERT: Largest Municipal Bankruptcy in History Could be filed next week

By John Galt July 23, 2011 In February of 2008, I wrote about the threat of “Municide” to the municipal securities industry and those who invested in funds or depended on them for their income. It was not meant to be an idle warning or casual threat, but a realistic look at what will happen eventually as the real estate markets collapsed and the Federal government’s impotence would impact the entire market. From the original piece I stated: Unfortunately for all of us, the failure to project future revenues and growth…


Violence Continues in Northern Ireland

By John Galt July 23, 2011 Look for this to expand as the British economy deteriorates further with some estimates showing 3-5% increases in unemployment on the Isles themselves thus a far worse situation in Northern Ireland. From the Belfast Telegraph these two stories in the Sunday Morning print edition: Bomb found near Glentoran’s stadium By Catherine Lynagh Saturday, 23 July 2011  A suspicious object found close to The Oval football ground in east Belfast was an incendiary bomb, police have confirmed. Several homes were evacuated for much of the day…


7/23 Cairo, Egypt Protests Turn Bloody-Over 230 injured

By John Galt July 23, 2011 The news overnight from Egypt is turning grimmer by the day. On Friday after prayers the protesters returned to march from Tahrir Square where thousands have been encamped since July 8 to the Defense Ministry building to show their displeasure over the police tactics and the slow pace of reforms under the military council. The best coverage comes from RIA Novosti below: Over 230 injured in Cairo protests 02:31 24/07/2011 MOSCOW, July 24 (RIA Novosti) A total of 231 people were injured when pro-democracy protestors…


Now the Mainstream Media begins to instill Panic over the Debt Ceiling

By John Galt July 23, 2011 What a joke this has become. The Republicans are appearing to attempt to hold the line after a massive amount of pressure put on them by those evil voters who the politicians would rather ignore or just reduce the numbers allowed to participate anyways. So with the deadline approaching for the Sunday night market open, the Associated Press, also known as the United States Department of Propaganda fires this story out on the wires tonight (via Yahoo news): Debt crisis: Deal sought to head off…


As the worm turns: In a Steak at a Chili’s in the UAE

By John Galt July 23, 2011 I don’t think A1 will help this story from Emirates 24/7: Worms in steak at Sharjah restaurant Restaurant fined; Municipality says no tolerance with eating outlets that do not comply with rules By Staff Published Saturday, July 23, 2011 A man who fancied a steak meal went to a famous food chain’s Chili’s outlet at Sharjah’s Sahara Centre and ordered one. As the dish was served, his hunger instantly turned into disgust as there were worms in the plate. Infuriated, Bahaa Hijazi quickly took shots…


More Municide: Oakridge Oregon the Latest City to Implode

By John Galt July 23, 2011 From KVAL News out of Eugene, OR: Funny how the small towns are impacted by a cash flow crisis yet in many states the ability to bury the problem by having the states save their bacon yet the media rarely if ever covers the larger events because there is a fear of triggering a panic again in the municipal bond markets. This problem in Oakridge, Oregon is neither unique nor new to small town America. This is a growing issue and as the Federal government…


And another Iranian Nuke Scientist Assumes Room Temprature

By John Galt July 23, 2011 And one of the most dangerous jobs in the world claims another physicist. That’s right, besides being the Mullah flipping the bird at an incoming Hellfire dropped by a Predator, the next most dangerous employment position is working for the Iranian nuclear program and apparently this clown had a suicide wish by staying on the job. From Reuters: Iranian nuclear scientist killed in Tehran: report TEHRAN | Sat Jul 23, 2011 12:03pm EDT (Reuters) – An Iranian physicist was shot dead by a motorcyclist in…


Egyptian Protests Start in Alexandria Again

By John Galt July 23, 2011 While the lack of focus by the American mainstream media on the week long protests in Cairo were well underway, the fury of the original protesters and the new found disdain for the military has spread north to Alexandria, except this time the military did not let the protests expand beyond about 1,000 before firing shots in the air and beating marchers. From Reuters last night: Egypt police disperse Alexandria protesters-witness 23 Jul 2011 00:04 * Alexandria protest blocks road, military police fire shots *…


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