By John Galt July 5, 2011 Please leave your bacon behind before departing our shores…. The government of New Zealand has a shortage and for once I’m befuddled how that could happen considering they love to eat as much as I do. Per a story from this morning’s New Zealand newspaper ThePress (excerpt): Calling all pig and chicken farmers by WILLIAM MACE Pig and chicken farmers are in demand and the Government is willing to let short term workers into the country to fill…
By John Galt July 5, 2011 The scenes from the movie THX 1138 are foreign to many of my readers but for those that remember George Lucas’ look at a bleak, impersonal future managed by computers and enforced with brutal robotic killers, that reality moves closer every day. The definitive police state wet dream is what I would title that movie and based on the actions and desires of the Department of Homeland Security and American corporations, that reality is accelerating into our homes…
By John Galt July 4, 2011 The news from Asia tonight continues to indicate that there is a little Greece in everyone. Beyond the warts due to the local debt issues the ChiComs are starting to show, it would appear that the Financial Services Commission of Korea did not use the Goldman Sachs-Turbo Timmy stress test model and actually conducted serious exams and audits of the savings banks in that nation. From Monday’s Korea Times: More savings banks to be suspended Stress test begins to…
By John Galt July 4, 2011 The story I posted last week on the debt threat from the insane borrowing and accounting practices of Communist China’s regional and local governments has now gone full circle with Marketwatch publishing a story tonight on that very subject and how analysts are almost certain it will require the Chinese banking system to be bailed out in the future. In the story, China Debt woes point to bank bailout by Chris Oliver, he offered the following astute analysis…
By John Galt July 4, 2011 The previous article I posted about the Greek housing crash that has begun pales in comparison to what is happening in the United States and unfortunately another one of the PIIGS, Ireland, is showing signs of further deterioration as their nation falls deeper into a bankster generated recession. The Irish Times highlighted the story in a story titled “Housing Prices Continue Decline” where per the property site MyHome.ie, prices fell another 4% last quarter bringing the total to…
By John Galt July 4, 2011 Another holiday, another chicken “bleep” proposal by a RINO, this time in the person of the alleged “conservative” John Cornyn of Texas. On Fox News Sunday he intimated that he would be open to a “Mini” debt ceiling compromise. This was detailed in a Bloomberg article this morning: Republicans May Take ‘Mini’ Debt-Ceiling Deal, Cornyn Says From the article: Cornyn said that while Republicans would prefer a long-term settlement, they would accept a shorter-term agreement if that’s all…
By John Galt July 4, 2011 The story from this morning’s edition of The National from the United Arab Emirates has the story: Gaza ‘freedom flotilla’ hopes on rocks after arrest of flagship’s captain The Soros sponsored left wing loons who support terrorists and wish to expand Islamic radicalism are desperately looking to find a new method to irritate Israel and create blistering biased news headlines to put the Israeli people in a poor light. As for the flotilla being cancelled thanks to some extremely…
By John Galt July 4, 2011 The headline this morning at the Wall Street Journal screams it out: S&P: Greece Debt Plan Is a Default The key sentences from the story create a picture of what happens when a rating agency refuses to play along (or is forced to) with the extend and pretend central bankers: “The S&P statement that the model would constitute a “selective default” will take banks and officials back to the drawing board,” interest rate strategists at Commerzbank said. The…
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