Time Magazine Declares 2000-2010 as Decade of Hell



Stop children what's that sound, can you see these vortex clowns...

The '00s: Goodbye (at Last) to the Decade From Hell -Time
Call it the Decade from Hell, or the Reckoning, or the Decade of Broken Dreams, or the Lost Decade. Call it whatever you want — just give thanks that it is nearly over.
On Aug. 29, 2005, near the center point in the decade, Hurricane Katrina made landfall in southeast Louisiana, killing more than 1,500 and causing $100 billion in damages. It was the largest natural disaster in our nation's history.

The U.S. has endured not one but two market crashes — one at each end of the decade. You might recall the first Wall Street crash, when swooning tech stocks tanked the market from 2000 to 2001, not long after the Nasdaq hit an all-time high of 5049 on March 10, 2000. (Recent levels: 2150-2200.) The economy went into a recession that now seems laughably mild. What followed wasn't funny at all: the most divisive and confusing presidential election in history, a discombobulated drama that we once thought could occur only in the Third World.



Study: Half of US kids will receive food stamps -USA Today

Gratitude is the sign of noble souls. ~Aesop
If you can't feed a hundred people, then just feed one. ~Mother Teresa

2010: The Second Financial Tsunami



Ironically, a real tsunami might get more notice and concerned hearts than the current economic tsunami. Even though the damage from this fiscally destructive wave is inflicting 1000s of casualities.

Red Alert: The Second Wave of The Financial Tsunami Global Reaserch
The Prelude to the End Game

The US economy will be spiraling out of control in the coming months and will reach critical point by the end of the 1st quarter 2010 and implode by the 2nd quarter.

The massive US$ trillions of dollars stimulus has failed to turn the economy around. The massive blood transfusion may have kept the patient alive, but there are numerous signs of multi-organ failure.

There will be another wave of foreclosures of residential and more importantly commercial properties by end December and early 2010. And the foreclosed properties in 2009 will lead to depressed prices once they come through the pipeline. Home and commercial property values will plunge. Banks’ balance sheets will turn ugly and whatever “record profits” in the last two quarters of 2009 will not cover the additional red ink.

Wave of Debt Payments Facing U.S. Government New York Times
Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term borrowings that come due in the months ahead, and interest rates that are sure to climb back to normal as soon as the Federal Reserve decides that the emergency has passed.

The White House estimates that the government will have to borrow about $3.5 trillion more over the next three years. On top of that, the Treasury has to refinance, or roll over, a huge amount of short-term debt that was issued during the financial crisis. Treasury officials estimate that about 36 percent of the government’s marketable debt — about $1.6 trillion — is coming due in the months ahead.

FDIC's Bair: Bank Failures Will Peak In 2010 Wall Street Journal
Waiting for the train wreck Asia Times

US in State of War with Banks


How many bills does it take to get sheeple to jump over the cliff?

We are in a de Facto State of War with the Banks The Final Post
We now sit on top a powder keg known as Alt-A mortgages, primarily made up of Option ARM and 5/1 ARM mortgages. It is a ticking time bomb. The banks know it. The Obama Administration knows it. The Fed knows it. Yet they can do nothing to extinguish the fuse. The bomb will go off. It’s timer is set for sometime before, during, or after 2011.

Red Alert: The Second Wave of The Financial Tsunami Global Research
The Prelude to the End Game

The US economy will be spiraling out of control in the coming months and will reach critical point by the end of the 1st quarter 2010 and implode by the 2nd quarter.

The massive US$ trillions of dollars stimulus has failed to turn the economy around. The massive blood transfusion may have kept the patient alive, but there are numerous signs of multi-organ failure.

There will be another wave of foreclosures of residential and more importantly commercial properties by end December and early 2010. And the foreclosed properties in 2009 will lead to depressed prices once they come through the pipeline. Home and commercial property values will plunge. Banks’ balance sheets will turn ugly and whatever “record profits” in the last two quarters of 2009 will not cover the additional red ink.

The Fed Is Bailing Out Every Bank In The World The Business Insider
The longer this imbalance goes on, the more likely it is that it will end in tears. And the irony is that a recovering world economy could be the catalyst.



Manic-depressive Stock Market Inviting a Black Swan Event? The Market Oracle

Ready for an Iranian Nuclear Test?



Is Iran bluffing or do they have a nuke test up their sleeve?

Iran nuclear deal collapses. Time for US to get tough? CSMonitor
Iran rejected a UN-brokered nuclear deal Wednesday that would have sent its uranium stockpile abroad. The Obama administration is now under pressure to make good on its promises of 'consequences.'

Minister Says Iran Won't Ship Uranium Abroad New York Times
Iran’s foreign minister said this week that his government would not ship its stockpile of low-enriched uranium out of the country, making him the highest ranking official so far to declare that Iran would renege on a deal aimed at defusing a confrontation with the West over its nuclear program.

Flashback to July 16, 2009:

Iran could have a nuclear bomb in six months Bild
German intelligence sources have sent a chilling warning that Iran could be armed with a nuclear weapon in six months. German secret service have “no doubt” that Iran’s missile programme is “exclusively” for the building of nuclear warheads.



6 nations ponder how to punish Iran for nukes China Daily
The meeting will include the UN Security Council's permanent members Britain, China, France, Russia and the US plus Germany, an EU official said Thursday, speaking on condition of anonymity because she was not authorized to disclose details.