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Brexit and the Derivatives Time Bomb
Ellen Brown
Brexit could trigger a $500 trillion derivatives meltdown, by forcing the EU to allow insolvent member governments and banks to write down debt. Italy is in financial crisis and is already petitioning for that concession. How to avoid collapse of the massive derivatives house of cards? Alternatives are considered.
Sovereign debt – the debt of national governments – has ballooned from $80 trillion to $100 trillion just since 2008. Squeezed governments have been driven to radical austerity measures, privatizing public assets, slashing public services, and downsizing work forces in a futile attempt to balance national budgets. But the debt overhang just continues to grow.
Torries Intend Greater Austerity Following Brexit Vote
Stephen Lendman
Political fallout from Thursday’s Brexit vote didn’t take long to unfold. David Cameron began it by announcing his resignation, effective when Torries meet in October, he said.
On Tuesday, UK Chancellor of the Exchequer George Osborne’s greater austerity announcement didn’t surprise. Days before last Thursday’s vote, he claimed Brexit would cause a 30 billion pound public finance hole - public health service, education, transport and other spending cuts needed, as well as tax hikes to make up for the alleged shortfall. At the time, he said “(f)ar from freeing up money to spend on public services…quitting the EU would mean less money. Billions less. It’s a lose-lose situation for British families.”
Brexit supporters responded by accusing him of threatening to break key Tory 2015 campaign pledges, notably Cameron’s “manifesto for working people,” saying “as a majority government, we will be able to deliver all of it.”
Massacres: Where Have all the Islamist Gone?
James Petras
Introduction
Over the past fifty plus years, over 125 mass shootings/massacres have occurred within the United States but not one perpetrator has been identified as a trained member of an international Islamist terrorist organization.
A review of the massacres will shed considerable light on the political, cultural and socio-psychological features of US society. The frequent and intensely bloody nature of these mass shootings are a distinctly US phenomenon. The high proportion of fatalities over wounded survivors is a reflection of the availability of high-power weapons in the US and the poorly coordinated police response – where SWAT place ‘force protection’ over saving lives.
False Prophets Hype Brexit Disaster
Stephen Lendman
Public sentiment in Britain, across Europe, in America and elsewhere is being manipulated to believe Brexit assures economic and financial chaos.
New world order con man/billionaire speculator George Soros, known for profiting from color revolutions, imperial wars and neoliberal harshness warned of disaster from Brexit, saying:
“Now the catastrophic scenario that many feared has materialized…the disintegration of the EU (is) practically irreversible,"
“Britain eventually may or may not be relatively better off than other countries by leaving the EU, but its economy and people stand to suffer significantly in the short to medium term.”
Turmoil in Britain Following Brexit
Stephen Lendman
Major disruptions rarely happen, Brexit the latest, a surprise to most observers, reverberations felt in Britain, across Europe, in America and elsewhere.
David Cameron is stepping down as UK prime minister, though delaying his departure until October. Jeremy Corbyn’s Labour leadership is threatened.
Over half his shadow cabinet ministers intend standing down on Sunday or later in the week - following Brexit and his sacking Hillary Benn overnight Saturday, his foreign policy chief, saying “he has lost confidence in” Corbyn through a spokesman.
Kerry in Brussels and London
Stephen Lendman
Ahead of his Sunday visit, Kerry’s upside down assessment of things stressed “the important role the UK plays in promoting peace and stability in the world.”
Both countries partnered with Israel represent pure evil, humanity’s greatest threat - Kerry’s visit an imperial mission, asserting US authority, letting UK and European officials know what Washington expects going forward.
Kerry saying “(i)n a democracy, when the voters speak, it is the job of leaders to listen and then to make sure that they are moving in a way that is responsible to address the concerns” is polar opposite the way America and its rogue Western allies operate.
Sanders Supports Clinton
Stephen Lendman
Holding back on officially endorsing her, the presumptive Democrat party standard bearer, belies his earlier saying “if (she’s) the nominee, I will certainly support her.”
Support = endorsement, so why stop short of admitting it. Sanders’ reasons ring hollow. So does his empty threat about waging a convention floor fight over Democrat platform policies.
He’s part of the dirty system, supporting what he claims to oppose, more hypocrite than populist, turning truth on its head, claiming “the Democratic (sic) party stands with the middle class, stands with working families, and is prepared to take on Wall Street and the big money interests” - the same ones his voting record shows he supports while claiming otherwise.
The intersection of politics and spirituality in addressing the climate crisis
An interview with Mohammed Mesbahi
It is now almost six months since the Paris climate deal was agreed—the first legally binding commitment on curbing carbon emissions by all 195 United Nations countries. Nearly 170 of these countries have now formally signed the deal, notwithstanding concerns that the UK’s decision to leave the EU may jeopardise its full ratification. But what are the longer term prospects of governments drastically ramping up their mitigation efforts in order to meet the ambitious 1.5°C emissions target and prevent runaway global warming? Can we realistically expect that wealthier industrialised nations, in particular, will embrace the necessity of implementing a fair and equitable framework for tackling climate change?
Brexit Another Excuse for Putin Bashing
Stephen Lendman
He’s falsely blamed for favoring Brexit, orchestrating Euro 2016 hooliganism, nonexistent aggression in Ukraine, menacing Baltic states and other Eastern European countries, along with being America’s top existential threat.
Now, according to right-wing Daily Beast columnist Josh Rogin, writing in the neocon Washington Post, “Russian intelligence and security services have been waging a campaign of harassment and intimidation against US diplomats, embassy staff and their families in Moscow and several other European capitals…”
No evidence suggests it. Similar accusations surfaced earlier. In October 2014, ABC News claimed “the number of incidents, targeting American diplomats in Moscow, has increased in recent years to levels not seen since the Cold War.”
Brexit Surprise
Stephen Lendman
Polls predicted a close vote. London bookmakers put odds strongly against Brexit. State controlled BBC and other major UK media one-sidedly promoted remaining in the EU, suggesting disaster otherwise.
The final vote, announced early Friday morning, was leave 51.9%, stay 48.1%. Turnout was 71.8%, 30 million Brits voting, the highest electoral participation rate since 1992.
UK Independence Party (UKIP) leader Nigel Farage hailed what he called Britain’s “independence day.” The Tory-led remain camp called it a “catastrophe.”
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