Archive for May, 2009

Beijing is caught in ‘trap’ over dollar

Tuesday, May 26th, 2009

China TrappedChina’s official foreign exchange manager is still buying record amounts of US government bonds, despite Beijing’s increasingly vocal fear of a dollar collapse, according to officials and analysts.

In recent months, senior Chinese officials, including Premier Wen Jiabao, have repeatedly signaled their concern that US policies could lead to a collapse in the dollar and global inflation.

Read Full Article…..

By Jamil Anderlini in Beijing
http://ft.com



The ONLY reason we are still alive is that China has no where else big enough to stash their cash.  I’ll bet that makes China really angry–to have no options but to pour their money down a rat hole.   I still remember them threatening to pull out of the U.S. economy a few months back and then they backed down from the idea because it was still entirely impractical. That would crash their own economy!! But the threat caused a real stir at the time.   This article shows clearly that China currently still has no choice.  I sort of translated this into a Biblical parallel as in John 6:68, “Then Simon Peter answered him, Lord, to whom shall we go? thou hast the words of eternal life.”  This would read for China, “Where else can we invest?  You are the only economy big enough to absorb all our cash.”  But, as Dr. Weiss points out, eventually it HAS to catch up with us.  And, as it says in Prov 22:7 which you all know, “The rich ruleth over the poor, and the borrower is servant to the lender.”  It is just a matter of time and how tired the Chinese (and others) get of all of this!

Ron Wheeler,  Elder
Church of God Faithful Flock

Five Economic Storms Raging NOW!

Friday, May 15th, 2009

Martin D. Weiss, Ph.D.Any economist fixated on so-called “signs of a recovery” needs to have his head examined.

As
I’ll prove to you in a moment, the hard-nosed reality is that
five major economic cyclones are in progress at this very moment.

The
storms are not abating. Nor are they changing direction. Quite the
contrary, what you see today is, at best, merely a deceptive calm
before the next, even larger tempests.

For investors who follow Wall Street, it could be fatal.

Read Full Article…..

by Martin D. Weiss, Ph.D.
http://www.moneyandmarkets.com/


Wall Street Falls Sharply on Drop in Retail Sales

Wednesday, May 13th, 2009

With consumer confidence rising and other encouraging signs percolating
through the economy, forecasters optimistically predicted that retail
sales would stabilize in April.

They were handed a disappointment on Wednesday. The government reported
that retail sales fell again as consumers spent less on gasoline,
appliances and groceries, signaling that they are not likely to begin
spending in droves anytime soon.

Read Full Article…..

By JACK HEALY and STEPHANIE ROSENBLOOM
http://nytimes.com

IT IS GETTING VERY SERIOUS NOW

Wednesday, May 13th, 2009

First,
it was a Missouri Analysis and Information Center (MIAC) report; then
it was a Department of Homeland Security (DHS) report; now it is a New
York congressman’s bill. Each of these items, taken on their own, is
problematic enough; taken together they portend “a clear and present
danger” to the liberties of the American people. It is getting
very serious now.

As
readers may recall, the MIAC report profiled certain people as being
potential violence-prone “militia members”: including people
who supported Presidential candidates Ron Paul, Bob Barr, and myself.
In addition, anyone who opposed one or more of the following were also
included in the list: the New World Order, the U.N., gun control, the
violation of Posse Comitatus, the Federal Reserve, the Income Tax, the
Ammunition Accountability Act, a possible Constitutional Convention,
the North American Union, the Universal Service Program, Radio Frequency
Identification (RFID), abortion on demand, or illegal immigration.

Read Full Article…..

By
Chuck Baldwin
May 12, 2009
NewsWithViews.com


Dry Bulk Report presents doomsday scenario for shipping

Friday, May 8th, 2009
As a result, they believe it is quite possible China will control, directly or indirectly, more than a third of the world’s dry cargo fleet by 2012.

AN apocalyptic vision of a future in which dysfunctional shipping markets trigger an outbreak of protectionism in trade and the creation of national fleets is outlined in a review of the current crisis by Consultants on Maritime Transport, an independent partnership.The analysis provides one of the gloomiest assessments of the potential course of the shipping crisis to be placed in the public domain.

Read Full Article…..

Tony Gray – Thursday 12 March 2009
http://www.lloydslist.com/

U.S. Jobless Rate Hits 8.9%, but Pace of Losses Eases

Friday, May 8th, 2009

The American economy lost another 539,000 jobs in April and the unemployment rate leapt to 8.9 percent, the government reported Friday, yet the deterioration was slightly milder than expected, buoying hopes that better days are approaching.

“The labor market is still very weak, but it looks like the most intense spate of weakness is probably behind us,” said Michael T. Darda, chief economist at the research and trading firm MKM Partners. “Less bad is always a prelude to good. It’s going to take some time for this economy to get back on its feet, but we might be closer to the recession ending.”

Read Full Article…..

http://www.nytimes.com/

Thousands Flee Pakistani Fighting

Friday, May 8th, 2009
Pakistani FleeA Pakistani offensive against militants in the Swat Valley has displaced some 200,000 people and 300,000 are on the move or about to flee, the UN says.

As jets and helicopters pounded targets in the valley, the UN said it was threatening to become one of the world’s biggest displacement crises.

The army says its “full-scale” assault had killed more than 170 militants in 24 hours, with the loss of 10 troops.

Read Full Article…..


Savage ban called ‘frightening preview’

Friday, May 8th, 2009

Coalition battling crackdown on speech rights



Michael Savage (San Francisco Chronicle)

Members of a coalition organized to fight attacks on America’s First Amendment rights in response to a multitude of developments under President Obama are expressing alarm at the United Kingdom’s decision to ban popular U.S. talk radio host Michael Savage from its shores.

British Home Secretary Jacqui Smith announced yesterday that Savage was on a list of people who would be unwelcome in the island nation.

Read Full Article…..

© 2009 WorldNetDaily

China military build-up seems U.S.-focused: Mullen

Tuesday, May 5th, 2009

http://english.chinamil.com.cn/site2/images/2007-09/26/xin_210904260710953685722.jpgWASHINGTON (Reuters) – China’s build-up of sea and air military power funded by a strong economy appears aimed at the United States, the chairman of the U.S. Joint Chiefs of Staff said on Monday.

Admiral Michael Mullen said China had the right to meet its security needs, but the build-up would require the United States to work with its Pacific allies to respond to increasing Chinese military capabilities.

Read Full Article…..

http://uk.reuters.com/

401(k)s Hit by Withdrawal Freezes

Tuesday, May 5th, 2009

Investors Cry Foul as Some Funds Close Exits; Perils of Distressed Markets

Some investors in 401(k) retirement funds who are moving to grab their money are finding they can’t.

Even with recent gains in stocks such as Monday’s, the months of market turmoil have delivered a blow to some 401(k) participants: freezing their investments in certain plans. In some cases, individual investors can’t withdraw money from certain retirement-plan options. In other cases, employers are having trouble getting rid of risky investments in 401(k) plans.

When Ed Dursky was laid off from his job at a manufacturing company in March, he couldn’t withdraw $40,000 from his 401(k) retirement account invested in the Principal U.S. Property Separate Account.

Read Full Article…..

By ELEANOR LAISE
Wall Street Journal Online