Marc Brands Liberty -- Cartoon -- Swim Vets For Truth

Voting Machines in Greece

Our Economy has been in a "Credit Bubble"

Credit Bubble Has Helped Create the Overleveraged American Consumer

The unappreciated dilemma is that the typical American has already over-consumed beyond any reasonable standard. Not only has demand been boosted by strong wealth effects, the boom has been much the result of stretching credit use to an extreme. That means household debt is now at an all-time record high, having increased from 68% of personal disposable income to 95% over the last fifteen years. And with confidence that prosperity is here to stay, the US savings rate stands at a record low level. It is little wonder our domestic economy has been so strong; 'It's been a great party', fueled by an enormous credit binge.

Just look around. Traditionally the bulk of mortgage loans required a 20% down-payment. Now, a whole industry has mushroomed that makes its living lending almost exclusively to home buyers offering little, if any, down-payment and poor credit is not an issue. In fact, today 40% of borrowers require some type of mortgage insurance to qualify for a loan. But poor credit and lack of a down payment are not a problem for today's creative financial infrastructure that through the alchemy of modern finance, pools these mortgages together and sells them to buyers hungry for yield. Or that is how it has worked until quite recently. Now, with de-leveraging and risk aversion, the market has disappeared for risky mortgage securities.

The Iraq Catch 22

...there is unrest because we wont leave, so we must fight to restore security, witch causes more unrest because we are still there, so we must fight harder to restore security, witch ...

Doesn't it sound perfect....

If your goal is to stay in the region forever, and keep on milking Defense Industry pork forever ?

Daily Kos || IRAN THREATENS PRE-EMPTIVE STRIKE

Touche, damn it

From NYT:

DOHA (AFP) - Iranian Defense Minister Ali Shamkhani warned that Iran might launch a preemptive strike against US forces in the region to prevent an attack on its nuclear facilities.

"We will not sit (with arms folded) to wait for what others will do to us. Some military commanders in Iran are convinced that preventive operations which the Americans talk about are not their monopoly," Shamkhani told Al-Jazeera TV when asked if Iran would respond to an American attack on its nuclear facilities.

"America is not the only one present in the region. We are also present, from Khost to Kandahar in Afghanistan; we are present in the Gulf and we can be present in Iraq..."

A Family in Baghdad

What is the worth of the citizen here??? An Iraqi??

To live in a place where there is no state, no law, no protection… GOD the MIGHTY is the only safety factor, for those who believe, and depend on him… I have been living my days wagering upon this fact only. Not on a government, nor an army, nor police, they were all in a jam, and each one wants to protect himself some how… even the occupation force…is only thinking of protecting itself, and how to cut down the daily losses.

When I opened the second part of the gate, a red car drove near, then stopped beside my car, I looked coolly to them, thinking them visitors to the neighbors, but I noticed that they got out quickly, facing me, carrying rifles and guns aimed at me....

Every thing froze in that moment…I saw my self dead, for sure.
Two of them moved towards me, signaling me to keep quiet, then one of them got into the car, while the other kept pointing his gun at me, I then realized that they came [for my] car

...I hoped for a miracle to happen, to stop them, but they went by, quickly, and my heart tore up… I run to the street, and stopped the first passing car, told him: Please help me, they took my car…I want to follow them or notify the Police…

We got to the nearest Iraqi Army Post, and notified them about the theft, he said he was sorry, but that was not among his duties.. A man was praying in the room…he finished his prayers and prayed goodness to me... The other man said: Do not cry, here…these are my car keys, use it and return it whenever you wish…
I thanked him, and kept crying…. raving to myself

I felt I shall die of sorrow, feeling defeated in front of a dirty enemy you can not confront… I felt that even the Police were helpless, so the possibility of getting it back is very slim….

One of the reasons for my incident is that the streets are almost devoid of Police cars these days, for most of them went to the tension areas, where there are clashes with Al-Mahdi Army and that presented the golden opportunity for thieves and gangs.

I am seriously thinking of leaving this house, and moving to a district closer to my work, and safer� the thieves now had information about my name, career, and work address, perhaps the next step would be to kidnap me or one of my sons... nearby is an area full of gangs and thieves, since the days of Saddam Hussein.

Now the conditions are worst, and no one can control them. So moving away from the area is the safest solution�

What is the meaning of life without security? How could a person work, give and create, while living in a constant state of panic? In the Institute, I sit in class, listening to the teacher, and thinking warily: will a shell fall down now, break the windows, smash the walls, kill and wound us?"

I opened up the Internet to read my e-mails…I found some 70 new letters…some were reports about Bush, Kerry, and the elections battle, and how it moves on…
I smiled and shook my head…each is living in his far away world, away from the other…diving into different details…

What brought them here?

Can they believe that they have ruined our lives, present, and future for uncountable years to come? Is there still among them a dreamer who thinks he loves the Iraqis, and he is here to help them??
We have an old saying here, one which we use in time of disasters bound with love… (and there is the love that kills……)

Baghdad Burning

Great blog by someone who lives in Baghdad!

Clashes and Churches...
300 dead in a matter of days in Najaf and Al Sadir City. Of course, they are all being called ‘insurgents’. The woman on tv wrapped in the abaya, lying sprawled in the middle of the street must have been one of them too. Several explosions rocked Baghdad today- some government employees were told not to go to work tomorrow.

So is this a part of the reconstruction effort promised to the Shi’a in the south of the country? Najaf is considered the holiest city in Iraq. It is visited by Shi’a from all over the world, and yet, during the last two days, it has seen a rain of bombs and shells from none other than the ‘saviors’ of the oppressed Shi’a- the Americans. So is this the ‘Sunni Triangle’ too? It’s déjà vu- corpses in the streets, people mourning their dead and dying and buildings up in flames. The images flash by on the television screen and it’s Falluja all over again. Twenty years from now who will be blamed for the mass graves being dug today?

We’re waiting again for some sort of condemnation. I, personally, never had faith in the American selected proxy government currently pretending to be in power- but for some reason, I keep thinking that any day now- any moment- one of the Puppets, Allawi for example, will make an appearance on television and condemn all the killing. One of them will get in front of a camera and announce his resignation or at the very least, his utter disgust, at the bombing, the burning and the killing of hundreds of Iraqis and call for an end to it… it’s a foolish hope, I know.

So where is the interim constitution when you need it? The sanctity of private residences is still being violated... people are still being unlawfully arrested... cities are being bombed. Then again, there really is nothing in the constitution that says the American millitary *can't* actually bomb and burn.