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Subprime Loans And Auto Sales: Debt On Wheels

November 8, 2014

“It’s not the underlying economics that’s driving things, it’s central bank liquidity.” — Matt King, Citigroup Soaring auto sales are not so much a sign of a strong economy as they are an indication of financial hanky-panky. We saw this same type of fakery play out in housing between 2004 – 2006, when prices went through the roof due to a mortgage-lending scam (“subprime”) that crashed the stock market and sent the economy reeling. Now the bigtime money guys are at it again, writing up auto loans... Read article

The American Dream, Gone

November 8, 2014

15 Reasons Why Americans Think We’re Still in a Recession… 1: Wage Stagnation:  Why America’s Workers Need Faster Wage Growth—And What We Can Do About It, Elise Gould, EPI Economic Policy Institute: “The hourly compensation of a typical worker grew in tandem with productivity from 1948-1973. …. After 1973, productivity grew strongly, especially after 1995, while the typical worker’s compensation was relatively stagnant. This divergence of pay and productivity has meant that many workers were not benefitting... Read article

Risky Business “Easy Money”

November 1, 2014

Here we go again. Last week, the country’s biggest mortgage lenders scored a couple of key victories that will allow them to ease lending standards, crank out more toxic assets, and inflate another housing bubble.  Here’s what’s going on. On Monday,  the head of the Federal Housing Finance Agency (FHFA), Mel Watt, announced that Fannie and Freddie would slash the minimum down-payment requirement on mortgages from 5 percent to 3 percent while making loans more available to people with spotty credit. If this all... Read article

The Fix Is In: Fed Stops Stock Slide With Talk of QE Extension

October 25, 2014

Unbelievable. On Wednesday, stocks were hammered after economic data showed that the US and global economies were headed for a major slowdown. By mid-day, the Dow was down 460 points before clawing its way back to minus 173 points. It looked like the market was set for another triple-digit flogging on Thursday when the Fed stepped in and started talking-up an extension to QE3. That’s all it took to ease investors jitters, stop the meltdown and send equities rocketing back into space. By the end of Friday’s session,... Read article

Stocks Plunge 460 Points On QE Exit

October 17, 2014

“Financial markets are faced with uncertainty that isn’t going away. The slowdown in Europe is probably in the early innings, the Fed hasn’t begun to raise interest rates, and geopolitical crises seem to pop up by the day.” Jeff Cox, Finance editor, CNBC Six years of zero rates and trillions of dollars of asset purchases couldn’t stop stocks from falling sharply on Wednesday. All three major indices moved deep into the red, with the Dow Jones leading the pack, dropping an eye-watering 460 points before rebounding... Read article

Has Obama Changed His Mind About Syria?

October 11, 2014

The ISIS siege of Kobane continued overnight while cities across Turkey were set ablaze by Kurdish protestors. At least 19 civilians were killed by Turkish riot police who were trying to disperse angry crowds that had gathered to protest the government’s unwillingness to defend the predominantly Kurdish city.  According to Hurriyet, “The worst violence was seen in Diyarbakır during a reported gunfight between the Kurdistan Workers Party (PKK) supporters and Hizbullah, a radical Islamist group whose members are mostly... Read article

America’s “Terrorist Academy” In Iraq Produced ISIS Leaders

October 11, 2014

The University of Al-Qaeda? “Since 2003, Anglo-American power has secretly and openly coordinated direct and indirect support for Islamist terrorist groups linked to al-Qaeda across the Middle East and North Africa. This ill-conceived patchwork geostrategy is a legacy of the persistent influence of neoconservative ideology, motivated by longstanding but often contradictory ambitions to dominate regional oil resources, defend an expansionist Israel, and in pursuit of these, re-draw the map of the Middle East.” Nafeez... Read article

Obama Declares War On Syria

September 13, 2014

Why the Real Target is Assad Not ISIS… Invoking the same ominous language as his predecessor, Barack Obama used a prime time presidential address on Wednesday to announce the beginning of a war on Syria. And while there’s no doubt that many Americans will be confused by Obama’s misleading focus on the terrorist organization named ISIL, the real purpose of the speech was to garner support for another decade of homicidal conflicts in the Middle East. The administration is as determined as ever to plunge the region... Read article

Uncle Sam Does Ukraine

September 13, 2014

U.S. Meddling Dims Prospects for Peace… “It’s Uncle Sam who’s pushing us into this slaughter. And let’s be frank, many politicians in Ukraine are just following his orders.” – Belarusian President Alexander Lukashenko The Minsk Ceasefire Protocol has very little chance of succeeding. In fact, the meeting between the warring parties was not convened to stop the violence as much as it was to buy time for the Armed Forces of Ukraine (AFU) to retreat and regroup. In the last two weeks, the junta’s army... Read article

Did Putin Just Bring Peace To Ukraine?

September 12, 2014

“In the implementing of their policies, our western partners– the United States first and foremost – prefer to be guided not by international law, but by force. They believe in their own ‘exceptionalism’, that they are allowed to decide on the fate of the world, and that they are always right.” – Russian President Vladimir Putin “What did we do to deserve this? What did we do to deserve being bombed from planes, shot at from tanks, and have phosphorous bombs dropped on us? ….That we wanted to live the... Read article

The Downing of Malaysia Flight 17 Sinister Pretext For War With Russia

September 7, 2014

“There is no innocent explanation for the sudden disappearance of MH17 from the media and political spotlight. The plane’s black box has been held in Britain for examination for weeks, and US and Russian spy satellites and military radar were intensively scanning east Ukraine at the time of the crash. The claim that Washington does not have detailed knowledge of the circumstances of the crash and the various forces involved is not credible.” – Niles Williamson, “Why have the media and Obama administration gone... Read article

Obama’s “Catastrophic Defeat” In Ukraine

August 31, 2014

Washington’s “Pivot” hits a Brick Wall… “We are currently witnessing an epic and historic event. The Ukrainian regular army and the punitive battalions are suffering a catastrophic defeat to the south of Donetsk…..It still is not quite clear how the Junta intends to avoid a complete defeat here…. By squandering the most combat-capable brigades in systematic offensive operations, the Junta sustained enormous losses and at the same time suffered a crushing, purely military defeat. The southern... Read article

Why Obama Wants Maliki Removed

August 16, 2014

Standing In Washington’s Way… The Obama administration is pushing for regime change in Iraq on the basis that current prime minister Nouri al Maliki is too sectarian. The fact is, however, that Maliki’s abusive treatment of Sunnis never factored into Washington’s decision to have him removed. Whether he has been  “too sectarian” or not is completely irrelevant. The real reason he’s under attack is because he wouldn’t sign the Status of Forces Agreement in 2011.  He refused to grant immunity... Read article

The Latest In The New Cold War

August 13, 2014

My Money’s On Putin… “History shows that the United States has benefited politically and economically from wars in Europe. The huge outflow of capital from Europe following the First and Second World Wars, transformed the U.S. into a superpower … Today, faced with economic decline, the US is trying to precipitate another European war to achieve the same objective.”… Sergey Glazyev, Russian politician and economist “The discovery of the world’s largest, known gas reserves in the Persian Gulf, shared... Read article

The Second Aircraft: Was Malaysia Flight 17 Shot Down?

August 9, 2014

“From start to finish, the Ukraine crisis has been instigated by US imperialism. Every action Washington has taken has been directed at exacerbating and intensifying this crisis. The longer this crisis goes on, the clearer it becomes that US policy is directed not so much at Ukraine as at Russia itself. Ukraine, it would seem, is meant merely to provide the pretext for a war with Russia.” — Bill Van Auken, “Does Washington want war with Russia?“, WSWS German pilot and airlines expert, Peter Haisenko,  thinks... Read article

Something Sinister Going On?

August 3, 2014

The Unanswered Questions of MH17… “Recent history has repeatedly proven that nothing said by Washington and its officials should be accepted at face value. No other government in the world has been implicated in so many egregious lies as the United States.” Bill Van Auken, “US lies and hypocrisy on Gaza and Ukraine“, WSWS “Mendaci neque quum vera dicit, creditor.” Cicero (“A liar is not to be believed even when he speaks the truth.”) Without a shred of public evidence to support their claim that Moscow... Read article

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