"U.S. housing collapse spreads overseas"
"The collapse of the housing bubble in the United States is mutating into a global phenomenon, with real estate prices down from the Irish countryside and the Spanish coast to Baltic seaports and even in parts of India.
This synchronized global slowdown, which has become increasingly stark in recent months, is hobbling economic growth worldwide, affecting not just homes, but also jobs.
In Ireland, Spain, Britain and elsewhere, housing markets that soared over the past decade are falling back to earth. Experts predict that some countries, like Ireland, will face an even more wrenching adjustment than the United States, with the possibility that the downturn could turn into wholesale collapse.
To some extent, the world's problems are a result of American contagion. As home financing and credit tighten in response to the crisis that began in the U.S. subprime market, analysts worry that other countries could suffer the mortgage defaults and foreclosures that have afflicted California, Florida and other states...."
And they want to bring this system to Palestine?
Why, so they can fleece Palestinians, too?
"The plan, which establishes a $500 million mortgage company.... Half of the money for the new mortgage company, $250 million, will come from the United States through the Overseas Private Investment Corporation....
Robert Mosbacher Jr., the president of the Overseas Private Investment Corporation....
“Our role is to deploy private capital as a soft power tool,” Mr. Mosbacher, a businessman from Texas, said after the ceremony held to announce the program."
That guy is one of Bush's globalist buddies, readers.
He was sent over to "save" Iraq earlier, if memory serves.
If you read the rest of the piece it is nothing but blatant Zionist propaganda.
The writing style itself is offensive, and I'm tired if it.
Not about helping Palestinians, it's about DIVIDING THEM using Abass as an agent of Israel!
And it's nice to know that Bush will send money to loan to Palestinians, while foreclosures in America skyrocket.
Bush will spend money ANYWHERE but HERE, Americans.
Been a great seven years so far, ain't it?
About to end...
"Retailing Chains Caught in a Wave of Bankruptcies"
"The consumer spending slump and tightening credit markets are unleashing a widening wave of bankruptcies in American retailing, prompting thousands of store closings that are expected to remake suburban malls and downtown shopping districts across the country.... through what could be a long economic downturn.
Maybe even PERMANENT?
The surging cost of necessities has led to a national belt-tightening among consumers. Figures released on Monday showed that spending on food and gasoline is crowding out other purchases..."
Welcome to the New World Order, stoo-pid shit Americans!
Down, down, down goes that standard of living while the elites do just fine!
And who is to blame for all this?
This is the MSM version (they just don't know, it could be a lot of things):
"News Analysis: Fuel Choices, Food Crises and Finger-Pointing"
"The idea of turning farms into fuel plants seemed, for a time, like one of the answers to high global oil prices and supply worries. That strategy seemed to reach a high point last year when Congress mandated a fivefold increase in the use of biofuels.
But now a reaction is building against policies in the United States and Europe to promote ethanol and similar fuels, with political leaders from poor countries contending that these fuels are driving up food prices and starving poor people. Biofuels are fast becoming a new flash point in global diplomacy, putting pressure on Western politicians to reconsider their policies, even as they argue that biofuels are only one factor in the seemingly inexorable rise in food prices.... several of them demanded a reconsideration of biofuel policies adopted recently in the West.
Many specialists in food policy consider government mandates for biofuels to be ill advised, agreeing that the diversion of crops like corn into fuel production has contributed to the higher prices. But other factors have played big roles, including droughts that have limited output and rapid global economic growth that has created higher demand for food.
Yeah, well, EVEN WITH those other factors BURNING FOOD is a BAD IDEA and ALWAYS WAS!!
That growth, much faster over the last four years than the historical norm, is lifting millions of people out of destitution and giving them access to better diets. But farmers are having trouble keeping up with the surge in demand....
Look at them blame hunger on the hungry!!
That's what elites who gorge themselves do!
Despite the criticism from abroad, support for ethanol remains solid....
Because of $$$$$$$!
On Monday, President Bush ordered that $200 million in emergency food aid be made available to “meet unanticipated food aid needs in Africa and elsewhere,” a White House statement said....
Not that I don't want to help people in the world, but WE HAVE HUNGRY PEOPLE HERE, George!!!
This guy won't spend a PENNY on America, will he?
Now the blog version, where you get the TRUTH (this whole crisis was PLANNED):
"Our take on the story: Rampant food inflation (which should be more accurately called price ramping/profiteering), caused by misguided Western policies (e.g. the biofuel scam) and speculation by the same people who brought you the sub-prime disaster, is to be alleviated in poor countries by LENDING to the "favoured" poor countries, leaving the out of favour ones who don't follow Western dictates to starve, e.g. North Korea. As a double-whammy, the "helped" countries will end up with so much debt at the end of the day that they would never be able to pay it back and thus become economic slaves of the capitalists (aka "debt servitude") (which is one of the modus operandi of the World Bank and IMF).
Can't help feeling that, if someone who wanted to ensnare the whole world into debt servitude, they couldn't have planned or executed it better."
Yeah, what a coincidence, huh?
