Story Of 2011 Will Be The Second US Housing Crash

03 Economy, Civil Society, Commerce, Corruption, Government

BUSINESS INSIDER / Money Game

Story of 2011 Will Be The Second US Housing Crash

20% price drop certain, 40% price drop probable, 80% possible

By Ilargi on The Automatic Earth. Jan. 3, 2011, 6:24 AM

EXTRACT:  Many people claim Stoneleigh and I must be crazy, and doomers and all that, for predicting an 80%+ drop in real estate values, but we in turn can't seem to understand why home prices would fall “only” 20% from here, or why they would fall “just” 40%, as Mish suggested for instance. We think that more than 20% is in the cards just because of the bubble coming back to earth; we think 40% is certain because of the bubble bursting, and we think 80%+ will then happen because the bursting bubble will take the entire financial system down with it. Pretty simple really.g, and it is worth reading….every single word of it.

EXTRACT:  According to L. Randall Wray, lenders may have the right to collect debt on certain loans, if they can prove ownership of the loan, but they can't foreclose unless and until they have a clear record (chain) of all transactions the loans went through, through their entire existence. And MERS effectively killed that chain.

EXTRACT:  The entire US housing system, lenders, builders, borrowers, the whole thing, is in grave danger, and that means both the financial system and the economy at large are as well. We're looking at not just one or two, but a whole series of reinforcing feedback loops. Which neither Obama nor Geithner nor Bernanke have any control over, other than fleetingly and temporarily.  And that will be the story of 2011.  Well, that and, of course, the euro crumbling, Japan deflating, China inflating, cities, counties and states defaulting, violent street protests, millions more Americans sinking into abject poverty, misery and hardship, and so on.

Read every word….

Phi Beta Iota: This is the best review we have found and it is chillingly credible.  In our view, the Secretary of the Treasury means well but has absolutely no clue how to actually manage the US economy back to a more stable ethical state.

Journal: Chuck Spinney on Afghan Near Term

08 Wild Cards
Chuck Spinney Sounds Off

Why the Handwriting is on the Afghan Wall

Thursday, 01/6/2011 – 10:37 am by Chuck Spinney*

* Selected archive of past commentaries here

afghanistan-150After nine years of futility, time is running out.

The lead editorial in a recent WP article, “Steady in Afghanistan,” claimed the early results of President Obama’s escalation strategy in Afghanistan “are mixed — but promising,” because President Obama “has raised the odds for success by committing U.S. forces to Afghanistan for four more years and by promising to negotiate a strategic partnership with the government of Hamid Karzai in 2011.”

Raised the odds for success? Four more year versus 2011? Consider please the unexamined ramifications of these words.

Read rest of article….

Indications & Warning: Army Spirit and Public Fat

04 Education, 07 Health, 10 Security, 11 Society, Cultural Intelligence, Military, Officers Call, Strategy
Who, Me?

Army's “Spiritual Fitness” Test Comes Under Fire

Jason Leopold

TruthOut Wednesday 05 January 2011

Test Was Designed by Psychologist Who Inspired CIA's Torture Program

An experimental, Army mental-health, fitness initiative designed by the same psychologist whose work heavily influenced the psychological aspects of the Bush administration's torture program is under fire by civil rights groups and hundreds of active-duty soldiers. They say it unconstitutionally requires enlistees to believe in God or a “higher power” in order to be deemed “spiritually fit” to serve in the Army.

Comprehensive Soldier Fitness (CSF) is a $125 million “holistic fitness program” unveiled in late 2009 and aimed at reducing the number of suicides and post-traumatic stress disorder (PTSD) cases, which have reached epidemic proportions over the past year due to multiple deployments to the wars in Iraq and Afghanistan and the substandard care soldiers have received when they return from combat.

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Tomgram: William Astore, We're Number One (in Self-Promotion)
Posted by William Astore at 9:40am, January 6, 201
EXTRACT:  In April 2010, for instance, a group of retired top brass and others released a report claiming that 27% of Americans between 17 and 24 are “too fat to fight.”  “Within just 10 years, the number of states reporting that 40 percent of their 18- to 24-year-olds are obese or overweight went from one [Kentucky] to 39.”  No reason to focus on that, though.  After all, it was so last year.

Just as the year ended, however, the Education Trust issued a report indicating that nearly a quarter of all applicants to the Armed Forces, despite having a high-school diploma, can’t pass the necessary military entrance exam.  This isn’t Rhodes Scholarships we’re talking about, but not having “the reading, mathematics, science, and problem-solving abilities” to become a bona fide private in the U.S. Army.  We’re talking the sort of basic that, according to an Education Trust spokesperson, makes it “equally likely that the men and women who don't pass the test are [also] unprepared for the civilian workforce.”

includes

Freedom Fighters for a Fading Empire
What It Means When We Say We Have the World’s Finest Fighting Force
By William J. Astore

EXTRACT:  As for our armed forces, though most Americans don’t know it, within U.S. military circles much criticism exists of an officer corps of “tarnished brass”that is deficient in professionalism; of generals who are more concerned withcovering their butts than leading from the front; of instruction at military academies that is divorced from war’s realities; of an aversion “to innovation or creativity… [leading to] an atmosphere of anti-intellectualism” that undermines strategy and makes a hash of counterinsurgency efforts.  Indeed, our military’s biting criticism of itself is one of the few positive signs in a fighting force that is otherwise overstretched, deeply frustrated, and ridiculously overpraised by genuflecting politicians.

Read entire article (second half of same link)…

William J. Astore, a retired lieutenant colonel (USAF) and professor of history, is a TomDispatch regular.  He welcomes reader comments atwjastore@gmail.com. To listen to Timothy MacBain's latest TomCast audio interview in which Astore discusses the military nightmares of a fading empire, click here or, to download it to your iPod, here.

Journal: Israel Demands Bribes for Access to Gaza

08 Wild Cards, Commerce, Corruption, Government, Military, Peace Intelligence
Chuck Spinney Recommends...

WikiLeaks: Israel charged bribes for Gaza access

By JOSEF FEDERMAN

The Associated Press Thursday, January 6, 2011; 7:29 AM

JERUSALEM — A U.S. diplomatic cable released by WikiLeaks on Thursday quoted American officials as saying a key Israeli cargo crossing for goods entering the Gaza Strip was rife with corruption.

The June 14, 2006, cable, published Thursday by Norway's Aftenposten daily, says major American companies told U.S. diplomats they were forced to pay hefty bribes to get goods into Gaza. It was unclear whether the practice still continues.

Read full article…

See Also:

Review: Deliver Us from Evil–Peacekeepers, Warlords and a World of Endless Conflict

NIGHTWATCH Extract: Pakistan’s Penetration by Radicals–Why Fundamentalism Defeats Security

07 Other Atrocities, 08 Wild Cards, 10 Security, 11 Society

Pakistan: Update. On 5 January, Pakistani media reported more details about the assassination of Governor Taseer.

The assassin said everyone in the governor's protective detail knew of his intentions. The weird thing is no background investigation would find adverse information about a devout Muslim, not in Pakistan.

The guard who assassinated Punjab Governor Salman Taseer on 4 January told other police officers of his planned attack but was still assigned to Taseer's security detail, the Wall Street Journal reported 5 January. The assassin, Qadri, previously was removed from a counterterrorism police branch because of concerns about his Islamist leanings. He personally had requested to guard Taseer, according to a senior police official.

Continue reading “NIGHTWATCH Extract: Pakistan's Penetration by Radicals–Why Fundamentalism Defeats Security”

Reference: WATER–Soul of the Earth, Mirror of Our Collective Souls

12 Water, Blog Wisdom, Book Lists
Robert David Steele

Robert David Steele

Comprehensive Architect, Prime Design

Huffington Post, Posted: January 5, 2011 21:08 PM

Last week I examined how we might create Infinite Wealth for All, but left for this week the most vital element of life on earth, Water. It is the soul of the Earth, and it is black with the sins of humanity, on the verge of becoming Lucifer's salve for Hell on Earth.

Water is–in its purified form–Heaven on Earth. The water cycle cannot be owned, but it can be destroyed. It is the ultimate manifestation of why we must, as a human species, achieve conscious evolution, integral consciousness, and an active appreciation for clarity (the truth), diversity (the sources of multiple forms of truth), and integrity (the enabler of inter-faith and multi-cultural wisdom and tolerance).

This review focuses on books about water suitable for drinking–less than 1% of the total water on the planet, most of which is oceans and a great deal of which is polluted.

Continue reading “Reference: WATER–Soul of the Earth, Mirror of Our Collective Souls”

Journal: Supreme Court OK’s Astroturfed Zombie Army

11 Society, Civil Society, Corporations, Cultural Intelligence, Misinformation & Propaganda, Money, Banks & Concentrated Wealth, Power Behind-the-Scenes/Special Interests
Chuck Spinney Recommends...

An Astroturfed Zombie Army

The Future of American Democracy?

By Werther*

ElectronicPolitics, January 2, 2011

EXTRACT:  With the Citizens United Supreme Court decision (certainly one of the ten most consequential rulings in the court's history), all pretense of restraint is gone. The reader can see just how unrestrained in the January 1 edition of the Washington Post. The article recounts the adventures of one Gena Bell, a declassé Ohioan of modest intellectual gifts balanced by an unbounded anger over a sense of entitlement slipping through her fingers. Otherwise a very unremarkable individual, made remarkable only by the fact that the Koch brothers, through the front group Americans for Prosperity, paid for her to demonstrate against the United Nations climate change summit in Cancun, Mexico.

Read entire article with quotes and links….