Thursday, May 31, 2012

The Moral Challenge of ‘Kill Lists’

by Ray McGovern

In an extraordinary article in Tuesday’s New York Times, “Secret ‘Kill List’ Proves a Test of Obama’s Principles and Will,” authors Jo Becker and Scott Shane throw macabre light on the consigliere-cum-priestly role that counterterrorist adviser John Brennan provides President Barack Obama. At the outset, Becker and Shane note that, although Obama vowed to “align [...]

This Chart Shows Us Why We Can't Blame China For US Job Losses

by Max Nisen

The rise of emerging markets like China and Brazil coincided with the long decline of the U.S. manufacturing sector. This has led to some adversarial rhetoric from politicians and pundits, blaming China and others for stealing our jobs.
An interesting post at VoxEU claims that this trend is vastly overstated. Richard Dobbs, Jan Mischke, and Charles Roxburgh of the McKinsey Global institute estimate that of the 5.8 million American manufacturing jobs lost from 2002-2010, only about one fifth were lost from outsourcing or changes in trade patterns.
The real culprit is an increasingly productive workforce combined with lower demand, particularly during the financial crisis and recession.
Here's the chart that shows where the losses actually came from:

In Iran Talks, Who’s Intransigent?

May 31, 2012
http://consortiumnews.com/2012/05/31/in-iran-talks-whos-intransigent/

The Washington Post and other neocon outlets are demanding an ever harder line against Iran in negotiations over its nuclear program. Yet, so far, the West has offered little in exchange for Iran’s concessions, writes ex-CIA analyst Paul R. Pillar.

By Paul R. Pillar

Sheila Bair on Tightening the Volcker Rule and the JPM 'Hedging' Fiasco

Filings for unemployment aid at a 5-week high

by Christopher S. Rugaber

WASHINGTON (AP) — The number of Americans seeking unemployment benefits rose last week to a five-week high, evidence that the job market remains sluggish.
The Labor Department said Thursday that weekly applications for unemployment aid rose 10,000 to a seasonally adjusted 383,000. The four-week average, a less volatile measure, increased ...

Will the fate of an oil pipeline help decide the U.S. presidential election?

Posted: 30 May 2012 10:37 AM PDT

Could the fate of a pipeline prove decisive in the U.S. presidential election? So far, the proposed Keystone XL pipeline connecting Canada and Texas is central to a Republican strategy of tarring President Obama as an economically clueless tree-hugger oblivious to the jobless multitude.

Yet should energy pipelines assume gigantic, life-like proportions in the public imagination? Whether or not they should, they have been doing so for a couple of decades now. In the 1990s, the Baku-Ceyhan oil pipeline linking the Caspian and Mediterranean seas was treated by its advocates and opponents as a life-and-death struggle. So it has been in recent years over competing proposed natural gas pipelines connecting Europe to Russia and Central Asia -- Nord Stream, South Stream and Nabucco.

Now we have Keystone XL, a proposal by TransCanada for a 1,700-mile-long pipeline that would carry some 700,000 barrels a day of bitumen to Gulf of Mexico refineries.

Yet, while American pols go on and on theatrically about Keystone, it is instructive how calmly the Canadians handle the issue.

Twilight of the Elites A Conversation with Christopher Hayes and Katrina vanden Heuvel

Twilight of the Elites
A Conversation with Christopher Hayes
and Katrina vanden Heuvel

June 14, 7:00 pm
The New School, Tishman Auditorium, 66 West 12th St. , NYC

Over the past decade, Americans watched in bafflement and rage as one institution after another--from Wall Street to Congress, the Catholic Church to corporate America, even Major League baseball--imploded under the weight of corruption and incompetence. In the wake of these failures, Americans have historically low levels of trust in their institutions. How did we get here? With his new book, Twilight of the Elites: America After Meritocracy, MSNBC host and Nation editor at large Christopher Hayes offers a radically novel answer. Join us for a conversation between Hayes and Nation magazine editor and publisher Katrina vanden Heuvel. Sponsored by The Nation and The New School.

Iran seeks to sabotage Iraq's oil drive

Beirut, Lebanon (UPI) May 30, 2012

As Iran's oil production shrinks because of Western economic sanctions, Iraq says its output has hit its highest level since 1989. If the current confrontation in the Persian Gulf continues, Iraq's production will soon outstrip that of its longtime rival. But the Tehran regime doesn't want to see its precious oil exports overtaken by Iraq's, oil prices pushed down and post-Saddam Hussei

Bill Gross: The Global Monetary System Is Reaching Its Breaking Point

by Tyler Durden

Think JPM is the "whale" in the market? Think again. Bill Gross exposes the real food chains on Wall Street, and you may be surprised just who is truly the biggest "whale" in the "developed" world. Hint- it is the creature controlled by a Princeton economics professor.
From Pimco's Bill Gross

.Christians Should "Convert, Pay Tribute, or Leave," Says Egypt's Muslim Brotherhood Candidate? -- Gatestone Institute

Christians Should "Convert, Pay Tribute, or Leave," Says Egypt's Muslim Brotherhood Candidate? -- Gatestone Institute

"They need to know that conquest is coming, that Egypt will be Islamic, and that they must pay jizya or emigrate," Morsi reportedly said.

According to the popular Egyptian website, El Bashayer, Muhammad Morsi, the Muslim Brotherhood presidential candidate, just declared that he will "achieve the Islamic conquest (fath) of Egypt for the second time, and make all Christians convert to Islam, or else pay the jizya," the additional Islamic tax, or financial tribute, required of non-Muslims, or financial tribute.

Read more ....

Clinton Says Military Action In Syria Would Require International Support, Including Russia -- Washington Post/AP

COPENHAGEN, Denmark — U.S. Secretary of State Hillary Rodham Clinton said Thursday that every day of slaughter in Syria is strengthening the case for tougher international action, yet stressed that military intervention would require support from the world community and Syria’s ally Russia.

Read more ....

Jamie Dimon And The Fall Of Nations

by Simon Johnson

By Simon Johnson
“Why Nations Fail: The Origins of Power, Prosperity, and Poverty,” by Daron Acemoglu and James Robinson, is a brilliant and sometimes breathtaking survey of country-level governance over history and around the world. Professors Acemoglu and Robinson discern a simple pattern – when elites are held in check, typically by effective legal mechanisms, everyone else in society does much better and sustained economic growth becomes possible. But powerful people – kings, barons, industrialists, bankers – work long and hard to relax the constraints on their actions. And when they succeed, the effects are not just redistribution toward themselves but also an undermining of economic growth and often a tearing at the fabric of society. (I’ve worked with the authors on related issues, but I was not involved in writing the book.)

Black church leaders: Gay marriage 'not a civil rights issue'

Occupiers plan to crash secret Bilderberg meeting

WND.com

The Occupy Bilderberg 2012 Facebook page shows that nearly 500 people have agreed to attend a protest against the secretive Bilderberg Group, which is meeting this week in a conference center near Washington Dulles International Airport. Read & Comment

Indian growth drops to 5.3%

Indian growth drops to 5.3% India’s economic growth fell below the psychologically significant six per cent level for the first time in three years, a clear sign that the country’s slowdown is deepening and affecting all sectors of the economy.

Sharp falls in the manufacturing and agriculture sectors have led Asia’s third-largest economy to grow only 5.3 per cent in the first three months of 2012, compared to 9.2 per cent growth a year earlier.

http://link.ft.com/r/ZE9K33/L9ZXV3/M9QF42/PFO743/WT9EMR/OS/h?a1=2012&a2=5&a3=31

William Pfaff on Changing Strategies "The Age of Drones"

William Pfaff on Changing Strategies
"The Age of Drones" -- Counterinsurgency is out. Drones, assassination teams, targeted killings and special forces are in.
http://www.truthdig.com/report/item/the_age_of_drones_20120529/

Andrew J. Bacevich "The Golden Age of Special Operations"

Andrew J. Bacevich
"The Golden Age of Special Operations" -- If not exactly a peacemaker, our Nobel Peace Prize-winning president can (with some justification) at least claim credit for being a war-ender. Yet when it comes to military policy, the Obama administration's success in shutting down wars conducted in plain sight tells only half the story, and the lesser half at that.
http://www.truthdig.com/report/item/the_golden_age_of_special_operations_20120529/

Bill Boyarsky on Obama's Kill List

Bill Boyarsky on Obama's Kill List
"Who Will the President Kill Next? It's a Secret" -- The revelation that President Barack Obama is personally selecting names for a kill list of suspected al-Qaida terrorists is a striking illustration of what actually occurs behind the White House's closed doors.
http://www.truthdig.com/report/item/who_will_the_president_kill_next_its_a_secret_20120530/

Robert Scheer on the False Obama and His Media enablers

Robert Scheer on the False Obama and His Media Enablers
"Hope Burning" -- So now we have Rambo Obama, a steely warrior who, according to a lengthy leaked insider account in The New York Times, hurls death-dealing drones at anyone who threatens the good old USA. Including children.
http://www.truthdig.com/report/item/hope_burning_20120531/

Wednesday, May 30, 2012

India’s Economy Slows, With Global Implications

http://www.nytimes.com/2012/05/30/world/asia/indias-economy-struggles-after-big-hopes.html?pagewanted=all

India’s Economy Slows, With Global Implications

By JIM YARDLEY and VIKAS BAJAJ

8-minute TEDx video: economics for 100% of Earth’s inhabitants’ success

by Carl Herman

Popout The Venus Project of Jacque Fresco, featured in the Zeitgeist films, documents a “resource-based economy” to optimize Earth’s resources for the success of all Earth’s inhabitants. This 8-minute video is the best I’ve found for concise and powerful communication of this possibility.

To Stop Iran's Nuclear Program, Cut a Deal on Oil

by Editors, Bloomberg

Editors, Bloomberg
Only the imposition of harsh economic sanctions brought Iranian negotiators back to the table for talks on its nuclear program last week in Baghdad. Only the prospect of lifting those sanctions can keep them there.

Egypt's Depressing Run-Off by Marc Lynch

Egypt's Depressing Run-Off

by Marc Lynch

Taibbi: The Epic Failure of the SEC

Charles Ferguson's 'Predator Nation: Corporate Criminals, Political Corruption, and the Hijacking of America'

3:31 AM

Charles Ferguson's 'Predator Nation: Corporate Criminals, Political Corruption, and the Hijacking of America'

by Don Hazen, Charles Ferguson, AlterNet

AlterNet Executive Editor Don Hazen talks to Ferguson, the Academy Award winner for "Inside Job," about his new book on the rapid rise of "Oligarchy America."

Law-Abiding Murder: How the Obama Administration Uses 'Just War' Theory to Rationalize 'Kill Lists'

by Ray McGovern, Consortium News

It is a moral and legal impossibility to square â€œkill listsâ€ for extrajudicial murders with traditional legal and moral American values.

The NYT’s Love Letter to Death Squads

The NYT’s Love Letter to Death Squads

by CHRIS FLOYD
http://www.counterpunch.org/2012/05/29/the-nyts-love-letter-to-death-squads/

The Moral Challenge of ‘Kill Lists’

May 30, 2012
http://consortiumnews.com/2012/05/30/the-moral-challenge-of-kill-lists/

Exclusive: Counterterrorism adviser John Brennan has been called President Obama’s “priest” as they wrestle with the moral dilemma of assembling a “kill list” of “bad guys,” a role that recalls how established religions have justified slaughters over the centuries, writes ex-CIA analyst Ray McGovern.

By Ray McGovern

Simon Johnson: U.S. Needs a National Safety Board for Financial Crashes

MIT Sloan Experts

Simon Johnson: U.S. Needs a National Safety Board for Financial Crashes

Posted: 30 May 2012 07:56 AM PDT

From Bloomberg News There are growing concerns that the regulatory bodies overseeing the financial sector are incapable of understanding, preventing or even properly investigating excessive risk taking that threatens to ruin the economy. This issue was raised before the 2008 financial crisis and received more attention during the debate that led to the 2010 Dodd-Frank [...]

THE ROVING EYE : Got war if you want it

Ready, set ... and waiting for US President Barack Obama to fire the starter's gun to attack Iran. That's how Pentagon head Leon Panetta describes the mood in Washington, straight from the neo-con play book. Lack of a smokin' nuclear gun in Tehran or anything else illegal be damned, even though Obama could easily decide to sue for a nuclear deal to bag a foreign policy victory for his own re-election race. - Pepe Escobar (May 30, '12)

Bilderberg 2012: May 31-June 3, Chantilly, VA; shaping the 1%’s crimes, lies by Carl Herman

Bilderberg 2012: May 31-June 3, Chantilly, VA; shaping the 1%’s crimes, lies

by Carl Herman

United States Budget Dilemma.wmv

Alarming! Washington's Dilemma!. Soaring debt and a budget Congress can't balance. This VIDEO explains WHY. Every person in AMERICA should watch this video!

http://www.youtube.com/watch?v=EW5IdwltaAc&feature=youtu.be

The Facebook Fallacy

The Facebook Fallacy
by Michael Wolff
For all its valuation, the social network is just another ad-supported site. Without an earth-changing idea, it will collapse and take down the Web.
Read More »

Is Facebook Worth It?
by Brian Bergstein and Mike Orcutt
Estimates of the historical value of a user put the IPO hype in perspective.
Read More »

Facebook shares plumb new depths, valuation questioned Reuters

Why we’re right to worry about the Facebook IPO Felix Salmon

Tuesday, May 29, 2012

On Israel's system of segregated roads in the occupied Palestinian territories By: Ahmad Barclay and Polypod, May 2012

On Israel's system of segregated roads in the occupied Palestinian territories

By:

Ahmad Barclay and Polypod, May 2012

Oil Nations' Budgets to Put Floor Under Oil Price

http://online.wsj.com/article/SB10001424052702303807404577432222793601782.html?mod=googlenews_wsj

Oil Nations' Budgets to Put Floor Under Oil Price

By BENOÎT FAUCON

Unleashed: Globalizing the Global War on Terror

Tuesday, May 29, 2012

Published on Tuesday, May 29, 2012 by TomDispatch.com

Unleashed: Globalizing the Global War on Terror

by Andrew Bacevich

Rockefellers and Rothschilds unite

Rockefellers and Rothschilds unite Two of the best-known business dynasties in Europe and the US will come together after Lord Jacob Rothschild’s listed investment trust and Rockefeller Financial Services agreed to form a strategic partnership
http://link.ft.com/r/2SRI11/30NND5/KEIJMC/B5RFZH/R3DAF5/50/h?a1=2012&a2=5&a3=29

Enemies of Israel Attacked by Advanced "Cyber-Espionage Worm"

Enemies of Israel Attacked by Advanced "Cyber-Espionage Worm"
http://www.darkgovernment.com/news/enemies-of-israel-attacked-by-advanced-cyber-espionage-worm/

Iranian security experts report a virus far more dangerous than the Stuxnet worm
has struck the country's computer systems.

Dubbed the “Flame,” the virus is one that has struck not only Iran, however,
but a number of other enemies of Israel as well.

The Kaspersky Internet security firm is calling the “Flame” data-stealing
virus the “most sophisticated [...]

Public Pensions Faulted for Bets on Rosy Returns

Public Pensions Faulted for Bets on Rosy Returns

FAS Roundup: May 29

FAS Roundup: May 29, 2012

Investigation into leak of Israel-Iran information, NATO's nuclear Groundhog Day, new CRS reports and much more.

From the Blogs

Restrictions on WikiLeaks Documents Challenged in Court: Steven Aftergood writes that the publication of leaked classified documents by WikiLeaks continues to confound government officials and to generate some unusual legal tangles. Last month, attorneys for a Guantanamo prisoner asked a federal court to nullify the restrictions that the government has imposed on access to and dissemination of the leaked records, so that the prisoner can prepare a response to the disclosures contained in them. Hundreds of files pertaining to prisoners at Guantanamo have been posted online by WikiLeaks.
NATO's Nuclear Groundhog Day?: Does NATO have a hard time waking up from its nuclear past? It would seem so. Hans Kristensen writes that the NATO alliance reaffirmed the nuclear status quo in Europe by ordering the deployment of nearly 200 U.S. non-strategic nuclear bombs in Europe that were left behind by arms reductions two decades ago.
Army Updates Oversight of "Sensitive Information": In a directive issued last week, Secretary of the Army John M. McHugh established a new Army Special Programs Directorate (ASPD) to administer and oversee special access programs and other “sensitive activities” conducted by the Army. The new Directorate is the successor organization to the former Technology Management Office, which performed many of the same functions.
House Votes to Require Leak Investigation on Israel-Iran Info: Last week, the U.S. House of Representatives adopted an amendment to require the Attorney General to conduct a criminal investigation into “leaks of sensitive information involving the military, intelligence, and operational capabilities of the United States and Israel.” Rep. Tom Price (R-GA), who sponsored the amendment to the FY2013 defense authorization act, cited stories based on leaks concerning a potential Israeli attack on Iranian nuclear facilities that were published in the New York Times, the Washington Post, and Foreign Policy.
Who's Next?: In a new post on the ScienceWonk blog, Dr. Y examines the history and use of ballistic missile boats (also called boomers) by the United States, Russia, China, Britain and France.
Proliferation of Precision Strike and More from CRS: Secrecy News has obtained recently released CRS reports on topics such as the domestic terrorist threat, the cost of presidential travel, U.S.-Vietnam relations in 2011 and intelligence authorization legislation.
Immune Defense is Ready to Play: Teachers, the beta version of Immune Defense is now ready for play and evaluation. Immune Defense is a game that teaches the function of white blood cells. For more information on Immune Defense, click here.
Former Secrecy Czar Asks Court to Release NSA Document: The former director of the Information Security Oversight Office (ISOO) asked a federal court for permission to disclose a National Security Agency document that he said represented an egregious example of overclassification. J. William Leonard was the ISOO director, or what is sometimes called the “classification czar,” from 2002-2008. In that role, he was responsible to the President of the United States for oversight of classification policy and enforcement of classification standards throughout the executive branch.

Event

FAS is partnering with the Atomic Heritage Foundation and the Elliott School of International Affairs at George Washington University to host the event, “Joseph Rotblat and the Pugwash Conferences” on Tuesday, June 5, 2012 from 10am-12pm in Washington, DC.
The program will focus on the life and legacy of nuclear physicist Joseph Rotblat (1908-2005); his dedication to world peace and reducing the threat of nuclear weapons as the founder and driving force behind the international Pugwash Conferences on Science and World Affairs for six decades. The program will consider the Pugwash Conferences’ contributions to ending the Cold War and reducing the nuclear threat in the post-Cold War world.
For more information on the program, click here.
To RSVP, please contact the Atomic Heritage Foundation at 202-293-0045 or via e-mail at info@atomicheritage.org.

FAS in the News

May 24: Arkansas Times, "New Attention to Tom Cotton, No Press Champion"
May 23: United Press International (UPI), "War-torn Yemen On Brink Of Human Calamity"
May 23: CNN, "Deadly Drones and the 'Classified' Conundrum"
May 22: The New Republic, "Defining Weaponization Down: Why We Should Be Wary of 'Successful' Nuclear Negotiations With Iran"

China Looks to Taiwan to Avoid U.S. Tariffs on Solar Panels

by burgessj@oilprice.com (James Burgess)

Taiwan, known as the republic of China, collaborates deeply with its larger neighbour in global high tech supply chains, and it is only natural that as China faces 31% tariffs on solar cells they export to the US, they will turn to Taiwan for help.Daniel Tzeng from Fubon Securities said that he has already noticed the many Taiwanese solar manufacturers have already experienced an increase in orders from China, and share prices have also risen recently due to optimism that the nations solar industry will grow considerably.Aaron Chew of Maxim Group…Read more...

Oil's Role in the Global Economic Crisis

by tol@oilprice.com (The Oil Drum)

This is a guest post by Lucas Chanel, Research Fellow in economics, and Thomas Spencer, Research Fellow in climate and energy policies, both at the Institute for Sustainable Development and International Relations. Between January 2002 and August 2008, the nominal oil price rose from $19.7 to $133.4 a barrel. This led to a large increase in oil revenues for oil exporters and a deterioration of the current account for oil importers (Figure 1). Between 2002 and 2006, net capital outflows from oil exporters grew by 348%, becoming the largest global…Read more...

The U.S. Should Encourage More Chinese Investment in Clean Technology

by cp@oilprice.com (Climate Progress)

Chinese capital is finally flowing into the U.S. clean energy market. Chinese direct investment in the U.S. clean energy economy has grown from just $4 million annually in 2006 to over $260 million in 2011. That increase is attracting attention, and not all of it is positive.Yesterday Third Way released a report concluding that U.S. private-sector investors are losing interest in investing at home due to the fickle American policy environment, leaving Chinese companies to fill the gap. The report’s authors worry that increasing Chinese participation…Read more...

Renewable Energy may be too Little too Late to Prevent Carbon Catastrophe

by juancole@oilprice.com (Juan Cole)

The world probably needs to get back to 350 parts per million of carbon dioxide in the atmosphere if truly radical climate change is to be avoided. But we are going in the wrong direction fast. In April, the Mauna Loy observatory measured CO2 in the atmosphere at about 396 parts per million, the highest recorded since records began being kept. The level was up nearly 3 ppm in a single year, itself an unusual statistic. Before the Industrial Revolution, at the time of the American Revolution, the level was 280 ppm. The Founding Fathers would already…Read more...

The War on Coal: A Lie Invented by the Coal Industry

by cp@oilprice.com (Climate Progress)

Big polluters and their Congressional allies have created a new straw man to knock down with the invention of the so-called “War on Coal.” It is a multi-million dollar disinformation campaign funded by Big Coal polluters to protect their profits and distract Americans from the deadly effects of air pollution on public health.However, with the number of coal jobs in key coal states actually on the rise since 2009, it’s more like peacetime prosperity than war in coal country. The War on Coal is nothing more than a new shiny object,…Read more...

World Will Benefit from Gas Glut

by Gloystein and Vukmanovic, Reuters

Gloystein and Vukmanovic, Reuters
A boom in unconventional natural gas over the next 20 years could see the United States and others benefit from cheaper energy while the importance of the Middle East declines, the International Energy Agency (IEA) said on Tuesday. Growth in shale and other newly available forms of natural gas in the United States and China could match gains made in conventional gas in Russia, the Middle East and North Africa combined, IEA Chief Economist Fatih Birol told Reuters in an interview.

The President Is Still Clueless on Energy

by Editorial, Washington Examiner

Editorial, Washington Examiner
"The true engine of economic growth will always be companies like Solyndra," President Obama declared two years ago this past weekend. That statement was already doubtful in May, 2010, when Obama visited the solar panel manufacturer's Fremont, Calif., headquarters between political fundraisers, to celebrate the $500 million it had received in taxpayer-funded stimulus cash.

Even an Oil Company Can't Thrive in Russia

by Andrew Kramer, NY Times

Andrew Kramer, NY Times
The Russian oil company Surgutneftegaz owns refineries and gas stations, sells a valuable product and makes a profit. But it sometimes fails another test of the capitalist world.

Another Oligarchs vs. BP Crisis in Russia

by Steve LeVine, Foreign Policy

Steve LeVine, Foreign Policy
A rocky nine-year oil partnership between BP and four Russian oligarchs seems to have reached a tenuous new stage, with a source on the Russian side saying the highly lucrative-but-troubled venture has "run its course." The crisis comes in one of the era's stormiest corporate partnerships of any type, anywhere, one in which at one stage current BP CEO Bob Dudley was forced into hiding.

How Much Energy Do Americans Use?

by Brad Plumer, Washington Post

Brad Plumer, Washington Post
Donald Marron passes along a very handy chart from the Congressional Budget Office looking at what sources of energy the United States relies on "” and for what purpose. . .

What Happened to $5 Gas?

by Editorial, Chicago Tribune

Editorial, Chicago Tribune
A funny thing happened on the way to $5 a gallon gas. The price at the pump nationwide has fallen well below $4 a gallon, and it may yet decline even more. . .

Summer Gas Prices Won't Get Any Better

by Chris Isidore, CNNMoney

Chris Isidore, CNNMoney
As the summer driving season kicks off this holiday weekend, most Americans are enjoying lower gas prices than they might have expected when the spring began. . .

How Much Do Gas Taxes Really Cost?

by Ken Chamberlain, National Journal

Ken Chamberlain, National Journal
With gas prices leveling out in some parts of the country and falling in many others, drivers out on the road this Memorial Day weekend will no doubt rejoice. . .

Green Jobs Fall Far Short of Obama's Goal

by Brian Hughes, Examiner

Brian Hughes, Examiner
President Obama has made much of his commitment to green energy as he launches his re-election bid, but the nascent industry has produced far fewer jobs than the president promised, despite massive, repeated infusions of taxpayer dollars. . .

Here Come the Chinese--To Claim Our Energy

by Steve Hargreaves, CNN

Steve Hargreaves, CNN
Eager to feed its growing energy appetite, China's worldwide buying binge for oil and other energy assets is spreading to North and South America.Yet most analysts say China's newfound interest in American energy may actually be good for U.S. consumers, as it will likely increase oil and gas supplies worldwide and possibly lower prices.

Walker's World: Euro's long slow fall

London (UPI) May 29, 2012

The euro is undergoing its ultimate stress test and so far it is failing. On current prospects, the whole prospect, and not just Greece's membership, may not be able to survive. The euro faces two immediate problems and they are inextricably interlinked. The immediate problem is the solvency of some of its leading banks, particularly in Spain.

China's rising costs deter European business: survey

Beijing (AFP) May 29, 2012

One in five European companies operating in China may invest elsewhere in the future as wages are getting too high and regulations too cumbersome, according to a poll released Tuesday. The European Chamber of Commerce said that while China was an increasingly important market for its members, many were deterred by rising prices and regulatory barriers in the world's second largest economy.

Arab World: Banking & Finance

Most Gulf states, flush with cash, have remained clear of turbulence

How to Do Nothing by Kori Schake

How to Do Nothing

by Kori Schake

Bashir al Assad's government killed another 90 civilians on Saturday, firing artillery shells into a village and following up with gunshot-to-the-temple executions. At least 32 children under the age of 10 were among the victims. If you have the stomach to bear witness to the Syrian people's grief, most major news outlets have posted pictures.
The reaction of the Free World's leaders reads like a parody of fecklessness, but here are the actual quotes from the New York Times article:

Unconventional wisdom by Martin B. Malin

Unconventional wisdom

by Martin B. Malin

As negotiations with Iran over the future of its nuclear program inch toward a possible deal, another intractable Middle East problem with a nuclear dimension is likely to start getting more serious attention. It is the question of whether there is any chance that Israel, Iran, and their Arab neighbors will agree to discuss establishing a regional zone free of all nuclear, biological, and chemical weapons and their delivery systems.

'Looking for opportunities' in U.S.

by Tim Devaney

China is bullish on the U.S. economy.
The world's most populous country is in the midst of a wave of purchases and investments in American companies.
The influx of Chinese capital is welcomed by some economists, while others fear the increasing influence of the rising superpower.

Everlasting Pork

Slush funds for the executive branch in authorization and appropriations bills are a big no-no, but if they are intended for Members and their staff to use, that would seem to be different.

What I found in the House Armed Services Committee's defense authorization bill is described at Time's Battleland blog at http://battleland.blogs.time.com/2012/05/29/a-peek-at-pentagon-pork-a-taxpayers-guide/, and below:

A Peek at Pentagon Pork: A Taxpayers’ Guide

By Winslow Wheeler | May 29, 2012 |

Europe is Failing due to the Lack of a Dominant Country to Lead the Way

by admin@oilprice.com (Editorial Dept)

We face the danger that the euro, the world’s No. 2 reserve currency, could implode. Such an event wouldn’t be just another depreciation or collapse of a currency peg; instead, it would mean that one of the world’s major economic units doesn’t work as currently constituted.We are realizing just how much international economic order depends on the role of a dominant country — sometimes known as a hegemon — that sets clear rules and accepts some responsibility for the consequences. For historical reasons,…Read more...

US Let China Buy Treasuries Directly During Debt Ceiling Crisis EmptyWheel

CFR Daily News Brief 5/29 International Pressure Builds on Syria

Top of the Agenda: International Pressure Builds on Syria

International envoy Kofi Annan met Syria's President Bashar al-Assad in Damascus today amid mounting global pressure for a firm response to reports of a regime-backed massacre of civilians. Annan, who will try to salvage a peace plan he brokered last month, said those responsible for the "appalling" deaths of more than 100 people in Houla on May 25 must be held to account (al-Jazeera). The UN Security Council has condemned the government's use of artillery in the assault on Houla. A UN human rights spokesman today says witnesses have reported that most of those killed were executed by pro-regime militias.

Analysis

"Intervening in Syria without the protection of an international consensus would be particularly risky, since the country lies in the middle of a region in flames," writes the Financial Times' Gideon Rachman.

"Those who believed the Gulf Arabs or the Turks would act effectively without American leadership may be forgiven for the error--but error it was, more and more clearly with each passing day and the deaths each day brings in Syria. We have no more excuses," writes CFR's Elliott Abrams in his blog, Pressure Points.

"Annan's cease-fire plan might be the last chance to solve the Syrian crisis in peace. All forces in Syria should honor their commitments and carry out the cease-fire to the letter. The top priority now is to prevent more civilian deaths," writes China Daily in an unsigned editorial.

Anarchist group declares war on Olympics

The Telegraph

An anarchist group has vowed to wage “low level warfare” against Britain, sabotaging financial institutions, transport, and the military in the lead up to the London Olympics. Read & Comment

Romney enjoys massive 24-point lead among veterans

Politico

U.S. military veterans overwhelmingly support Mitt Romney over President Obama, according to a new Gallup Poll released Monday. Read & Comment

Jonah Goldberg, Krauthammer explain why veterans lean Republican

Monday, May 28, 2012

Panetta Claims U.S. Ready for Iran if Necessary

Panetta Claims U.S. Ready for Iran if Necessary
http://www.darkgovernment.com/news/panetta-claims-u-s-ready-for-iran-if-necessary/

U.S. Defense Secretary Leon Panetta on Sunday indirectly confirmed recent
remarks by the Ambassador to Israel that the U.S. is “ready from a military
perspective’’ to stop Iran from making a nuclear weapon if international
pressure fails.

The U.S. and members of the United Nations Security Council recently met in
Baghdad for talks about Iran’s suspected [...]

Lloyd's of London Ready for Collapse of Euro

Lloyd's of London Ready for Collapse of Euro
http://www.darkgovernment.com/news/lloyds-of-london-ready-for-collapse-of-euro/

The chief executive of the multi-billion pound Lloyd's of London has publicly
admitted that the world's leading insurance market is prepared for a collapse in
the single currency and has reduced its exposure "as much as possible" to the
crisis-ridden continent.

The End of the Euro: A Survivor's Guide

Simon Johnson and Peter Boone

The End of the Euro: A Survivor's Guide

Bush’s Terror Overreach Becomes ’New Normal’ Under Obama Bloomberg

Barack O’Romney Foreign Affairs Foreign Policy. Bi-partisan consensus on foreign policy.

Bolton sounds alarm against the 'globalistas'

American Enterprise Institute

Global governance, the next new thing in trendy international thought, has been typically portrayed as the nearly inevitable evolution upward from the primitive nation-state and its antiquated notions of constitutionalism and popular sovereignty. Read & Comment

House reviews U.N. plan to regulate Internet

The Hill

House lawmakers will consider an international proposal next week to give the United Nations more control over the Internet. Read & Comment

How to stop Greece’s “bank jog”

Bank runs are not supposed to happen in a modern advanced economy. Yet, newspapers reported last week that Greek depositors were stepping up their withdrawal of savings held in local banks. Understanding why this is happening – and what we can do about it – is key to assessing the threat to European and global growth, jobs and financial stability.
There are two critical safeguards against the start and disorderly acceleration of bank runs: national deposit insurances schemes and central bank provision of emergency liquidity. They kick in once the banking system’s first line of defence – which consists of strong capital and good assets on the balance sheet – is breached.
http://link.ft.com/r/IOCBMM/97T3EU/NS9NWA/IILTXZ/WT9246/SN/h?a1=2012&a2=5&a3=28

Worst is still ahead for Obama’s chief firefighter

Worst is still ahead for Obama’s chief firefighter Geithner, offering sound counsel, believes you should do what it takes to stop the system from collapsing, writes Edward Luce
http://link.ft.com/r/TWK799/4C3SM5/40OA1R/OR6VKF/30PWYJ/JY/h?a1=2012&a2=5&a3=28

Sunday, May 27, 2012

Riddle of the sands

Oil and the Middle East are inextricably linked - along with Islam, and the perception of corruption, war, sanctions and dictatorship. An Asia Times Online special series investigates how energy resources made the Persian Gulf region what it is today - the world's prime fuel supplier, with often fabulously rich rulers overseeing deeply troubled societies.

Fearful Iran hawks flap harder

United States Republican Senators John McCain and Lindsay Graham and independent Democrat Joseph Lieberman have escalated their campaign against any compromise agreement in ongoing international negotiations over Iran's nuclear program. The "Three Amigos" are spearheading the neo-conservative blitz amid renewed optimism of progress during the talks in Baghdad. - Jim Lobe (May 24, '12)

THE ROVING EYE : How Osama re-elects Obama

The release of hundreds of pages of government documents reveal that Kathryn Hurt Locker Bigelow was given unprecedented access to top-level sources for the movie she is making on the SEAL raid in Pakistan that led to the killing of Osama bin Laden. Essentially, this will be a Hollywood 90-minute multi-million dollar campaign commercial selling President Barack Obama as a macho commander-in-chief. - Pepe Escobar (May 24, '12)

Guest Post: War Pigs - The Fall Of A Global Empire

by Tyler Durden

Submitted by Jim Quinn from The Burning Platform
War Pigs - The Fall Of A Global Empire
We will bankrupt ourselves in the vain search for absolute security.” -Dwight D. Eisenhower
“How far can you go without destroying from within what you are trying to defend from without?” -Dwight D. Eisenhower

http://www.washingtonpost.com/opinions/the-emergency-state-americas-pursuit-of-absolute-security-at-all-costs-by-david-unger-and-permanent-emergency-inside-the-tsa-and-the-fight-for-the-future-of-american-security-by-kip-hawley-and-nathan-me“The Emergency State: America’s Pursuit of Absolute Security at all Costs” by David Unger

http://www.washingtonpost.com/opinions/the-emergency-state-americas-pursuit-of-absolute-security-at-all-costs-by-david-unger-and-permanent-emergency-inside-the-tsa-and-the-fight-for-the-future-of-american-security-by-kip-hawley-and-nathan-means/2012/05/25/gJQAmWzbqU_story.html

“The Emergency State: America’s Pursuit of Absolute Security at all Costs” by David Unger and “Permanent Emergency: Inside the TSA and the Fight for the Future of American Security” by Kip Hawley and Nathan Means

By Karen J. Greenberg, Published: May 25

Last year a Newsweek article made public President Obama’s reading list. Its message was promising: A third of the books focused on former presidencies. Yet according to “The Emergency State,” David C. Unger’s ambitious and valuable overview of 20th-century presidents and national security, Obama has unfortunately picked up the bad habits of his predecessors. They have created what Unger calls emergency state government — policies by which America’s security interests are defined with an ever-increasing expansiveness. Over the past century, Unger argues, America’s presidents have incrementally institutionalized the emergency state and in so doing have weakened the country morally, constitutionally, financially and most of all in terms of security itself.

Who Cares About Wright the Second Time Around?

Tell me again why the New York Times can run stories such as "There Is a Dark Side to Mormonism" on Romney's faith, but we mustn't talk at all about Obama's chosen creed of black liberation theology.

The Best and the Greediest? Ivy League Students Are Still Heading to Wall Street

by Lynn Parramore, AlterNet

The first post-Occupy Ivy League classes are graduating. Will they be any less likely than their predecessors to flock into finance?

U.S. pumps billions into foreign police departments

Examiner.com

In the aftermath of 9/11, the U.S. government garnered the commitment and cooperation of foreign police and security departments to combat al Qaeda and other radical Islamic groups, according to a government report obtained by the National Association of Chiefs of Police and the Law Enforcement Examiner. From fiscal 2009 to 2011, America gave big police assistance to Afghanistan, Iraq, Pakistan, Colombia, Mexico and the Palestinians. Read & Comment

America turns into Handout Nation

The Weekly Standard

A striking chart shows that over the past decade 65 percent of federal expenditures went to pay for entitlement commitments, not wars in Iraq and Afghanistan, defense or national security. Read & Comment

Sheriff Joe's posse: Hawaii 'duped' Arizona on Obama

WND

"Hawaii duped Arizona" in its response to Arizona Secretary of State Ken Bennett's request to verify Barack Obama's eligibility for the 2012 election, charges the lead investigator of Maricopa County Sheriff Joe Arpaio's Cold Case Posse. Read & Comment

Israel's warmongering rhetoric against Iran threatens world peace: envoy

Israel's warmongering rhetoric against Iran threatens world peace: envoy
Tehran Times
As a State party to the Treaty on the Non-Proliferation of Nuclear Weapons, the Islamic Republic of Iran has on many occasions, including in relevant international forums, officially declared that nuclear weapons as the most lethal and inhumane weapons ...

A Victory for All of Us by Chris Hedges

commondreams.org Original Page
by Chris Hedges
http://www.commondreams.org/view/2012/05/19-5

A Victory for All of Us

In January, attorneys Carl Mayer and Bruce Afran asked me to be the lead plaintiff in a lawsuit against President Barack Obama and Defense Secretary Leon Panetta that challenged the harsh provisions of the National Defense Authorization Act (NDAA). We filed the lawsuit, worked for hours on the affidavits, carried out the tedious depositions, prepared the case and went to trial because we did not want to be passive in the face of another egregious assault on basic civil liberties, because resistance is a moral imperative, and because, at the very least, we hoped we could draw attention to the injustice of the law. None of us thought we would win. But every once in a while the gods smile on the damned.

Saturday, May 26, 2012

China And Japan Dropping Dollar Cross Rate System, Will Transact Directly by Tyler Durden

China And Japan Dropping Dollar Cross Rate System, Will Transact Directly

by Tyler Durden

TURNER: 'Welcome home' Vietnam veterans

by Robert F. Turner

Many reading this probably don't know it, but at 1 pm Monday afternoon, the Pentagon will host a "Welcome home" ceremony for Vietnam War veterans at the Vietnam Veterans Memorial on the Mall. If it comes off, it will be a good thing. A lot of very brave men fought ...

What If California Were Greece?
The Separation of Bank and State
Coming Together or Flying Apart?
Europe in Recession
Meanwhile, Back at the Ranch
A Slowing US Economy
Where’s My Quantitative Easing?
Home for a Week! New York and Italy
It is simply hard to tear your eyes away from the slow-motion train wreck that is Europe. Historians will be writing about this moment in time for centuries, and with an ever-present media we see it unfold before our eyes. And yes, we need to tear our gaze away from Europe and look around at what is happening in the rest of the world. There is about to be an eerily near-simultaneous ending to the quantitative easing by the four major central banks while global growth is slowing down. And so, while the future of Europe is up for grabs, the true danger to global markets and growth may be elsewhere. But, let’s do start with the seemingly obligatory tour of Europe.

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Thursday, May 31, 2012

In Iran Talks, Who’s Intransigent?

Wednesday, May 30, 2012

India’s Economy Slows, With Global Implications

By JIM YARDLEY and VIKAS BAJAJ

The Moral Challenge of ‘Kill Lists’

United States Budget Dilemma.wmv

Alarming! Washington's Dilemma!. Soaring debt and a budget Congress can't balance. This VIDEO explains WHY. Every person in AMERICA should watch this video!

Tuesday, May 29, 2012

Oil Nations' Budgets to Put Floor Under Oil Price

By BENOÎT FAUCON

Unleashed: Globalizing the Global War on Terror

FAS Roundup: May 29, 2012

From the Blogs

Event

A Peek at Pentagon Pork: A Taxpayers’ Guide

Monday, May 28, 2012

The End of the Euro: A Survivor's Guide

Sunday, May 27, 2012

“The Emergency State: America’s Pursuit of Absolute Security at all Costs” by David Unger and “Permanent Emergency: Inside the TSA and the Fight for the Future of American Security” by Kip Hawley and Nathan Means