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Audio: 9/11 & Globalist Crash-Con-omics
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Dr. Evil



Joined: 31 Aug 2008
Posts: 83
Location: Deep in the heart of Cheney country.

PostPosted: Sat Nov 29, 2008 9:33 am    Post subject: Reply with quote

I saw this article yesterday. Has anybody heard anything about the Chinese auto plans?

Quote:
Chinese Automakers May Buy GM and Chrysler

By Bertel Schmitt
November 18, 2008 -

Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler, China’s 21st Century Business Herald reports today. [A National Enquirer the paper is not. It is one of China's leading business newspapers, with a daily readership over three million.] The paper cites a senior official of China’s Ministry of Industry and Information Technology– the state regulator of China’s auto industry– who dropped the hint that “the auto manufacturing giants in China, such as Shanghai Automotive Industry Corporation (SAIC) and Dongfeng Motor Corporation, have the capability and intention to buy some assets of the two crisis-plagued American automakers.” These hints are very often followed with quick action in the Middle Kingdom. The hints were dropped just a few days after the same Chinese government gave its auto makers the go-ahead to invest abroad. And why would they do that?

A take-over of a large overseas auto maker would fit perfectly into China’s plans. As reported before, China has realized that its export chances are slim without unfettered access to foreign technology. The brand cachet of Chinese cars abroad is, shall we say, challenged. The Chinese could easily export Made-in-China VWs, Toyotas, Buicks. If their joint venture partner would let them. The solution: Buy the joint venture partner. Especially, when he’s in deep trouble.

At current market valuations (GM is worth less than Mattel) the Chinese government can afford to buy GM with petty cash. Even a hundred billion $ would barely dent China’s more than $2t in currency reserves. For nobody in the world would buying GM and (while they are at it) Chrysler make more sense than for the Chinese. Overlap? What overlap? They would gain instant access to the world’s markets with accepted brands, and proven technology.

21st Century Business Herald, obviously with input from higher-up, writes that Chinese industry must change and upgrade. China wants their factories to change from low-value-added manufacturing to technically innovative and financially-sound high-value-add industries. Says the paper: “It would be much easier now for strong Chinese automakers to go global by acquiring some assets of their U.S. counterparts in times of crisis.”

Deloitte & Touche sees a trend: “Chinese automakers can start with buying out the OEM projects and Chinese ventures of some global carmakers such as GM and Chrysler.”

The Chinese appear to have bigger plans than an accounting firm can imagine. 21st Century Business Herald acts and writes as if its already a done deal, and the beginning of more to come. “In the coming two years China is likely to see a few of its large Chinese automakers and other manufacturing enterprises set a precedent for achieving globalization by acquiring global companies, just like SAIC or Dongfeng’s possible acquisition of troubled GM or Chrysler.”

Just in case you missed it, the Shanghai Automotive Industry Corporation (SAIC) is China’s largest auto manufacturer. In 1984, the company entered a joint venture with Volkswagen. A decade later, SAIC entered a joint venture with General Motors. In 2007, SAIC bought the Nanjing Automobile Corporation, which had acquired British MG Rover in 2005.

Dongfeng Motor Corporation is a public company, although 70 percent of their shares are reported to be in government hands. They also are one of China’s Big Three. The company has numerous joint venture partners, such as Nissan, Peugeot-Citroen, Honda, and Kia. Dongfeng (which means “East Wind”) was founded at the behest of Mao Zedong himself in 1968.
Source

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duane



Joined: 07 Mar 2007
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PostPosted: Sat Nov 29, 2008 10:34 am    Post subject: Reply with quote

can you imagine a more horrible way to go? I can see some Walmart lawyers going over employment rules and denying death benefits for "hindering customers from shopping"

http://www.nydailynews.com/ny_local/2008/11/28/2008-11-28_worker_dies_at_long_island_walmart_after.html

Worker dies at Long Island Wal-Mart after being trampled in Black Friday stampede

"I reget that I have but one life to give to the service of my corporation"

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Dr. Evil



Joined: 31 Aug 2008
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Location: Deep in the heart of Cheney country.

PostPosted: Sat Nov 29, 2008 12:18 pm    Post subject: Reply with quote

Thanks for bringing this up, duane. He's the same age as I am and I'm so glad I was able to get out of retail. I worked at Target for over ten years and can't believe I stayed there that long. The day after Thanksgiving shopping is intense and you truly see the worst in people. I used to work the early mornings but had to request the closing shifts because it rattled my nerves so bad dealing with the huge rush of people. Sometimes I would get my request and other times I had to deal with the madness.

I feel for his family that he had to die in such a meaningless way. And what makes me mad is that they reopened the store. I didn't see it in the article you provided but somewhere else I read that people were irate that the store was going to be closed for awhile and that they would have to stop shopping.

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duane



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PostPosted: Fri Dec 05, 2008 12:20 pm    Post subject: Reply with quote

maybe some of those walmart shoppers can find some deals in Dubai!!!


http://www.bloomberg.com/apps/news?pid=20601109&sid=a2jrSPqYhVzY&refer=home

Dubai Speculators Quit as Lending Drought Bursts Desert Bubble


By Glen Carey

Dec. 4 (Bloomberg) -- The classified ads in Dubai read like an obituary for a real-estate market that until a few months ago seemed immune from the global credit crisis.

A Turkish investor, who identified himself as Sebat, took out 10 bright yellow ads in the Nov. 25 edition of Gulf News, the United Arab Emirates’ biggest newspaper, with the headline: “DIRECT FROM OWNER DISTRESS SALE!!!” Sebat said he used to be able to buy four or five properties at a time and sell them the next day for a profit of as much as 5 percent.

“There is panic in the market,” said Sebat, 52, who wouldn’t give his full name because he’s juggling 60 properties.

The property bubble in the desert emirate, home to the world’s tallest building, most expensive hotel suite and largest manmade islands, is bursting as scarce credit and slumping oil prices have international investors scurrying to dump assets. That may shatter Dubai’s goal of creating a sustainable economy by building the Persian Gulf hub for finance and tourism, forcing it to depend on oil-rich neighbor Abu Dhabi for financing.

“Dubai is more precarious than it has ever been,” said Christopher Davidson, author of “Dubai: The Vulnerability of Success” (2008, Columbia University Press). “If the property industry collapses in Dubai, it will be finished. Dubai’s relative autonomy will come to an abrupt end.”

The emirate’s push into luxury property developments and tourist attractions was diversification on “paper sand,” said Davidson, a professor of Middle Eastern affairs at Durham University in the U.K.

‘Nasty Downturn’

Real-estate prices may drop 20 percent or more, analysts at EFG-Hermes Holding SAE, the biggest publicly traded investment bank in Egypt, said in a report this week.

Nakheel PJSC, the Dubai state-owned developer of three palm-shaped islands in the Persian Gulf, said Nov. 30 that it is scaling back or delaying work on some of its $30 billion in projects, including the 62-story Trump International Hotel & Tower near the Mega Yacht Club on the trunk of Palm Jumeirah.

“In such a nasty downturn, which we are seeing now, they are just not immune to global events,” said Michael Baer, founder of Dubai-based Baer Capital Partners and great-grandson of Julius Baer, who started Switzerland’s largest independent wealth manager. “Maybe the boom is over for the time being.”

The sheikhdom may need help from Abu Dhabi and the U.A.E. to service its debt, according to Moody’s Investors Service. Dubai borrowed $80 billion to finance its transformation and make up for a lack of natural resources. It has just 4 billion barrels of oil reserves, compared with Abu Dhabi’s 92.2 billion barrels.

‘Healthy Correction’

Dubai officials say the emirate can weather the storm.

“The real estate sector is witnessing a healthy correction,” Mohammed Ali Alabbar, chairman of Emaar Properties PJSC and head of a committee studying the effects of the global credit crisis on Dubai’s economy, said in a Nov. 24 speech. “This is a consequence of global financial conditions and is inherent to the very nature of the market.”

Dubai will meet its debt obligations, he said.

Baer said he is optimistic the boom will return if the government takes the right actions. “There will be layoffs, they will have readjustments in asset prices and maybe they will have more careful accounting practices,” he said.

Led by Sheikh Mohammed bin Rashid al-Maktoum, Dubai attracted investment with no income tax and free-trade zones. Dubai, the second-biggest of the U.A.E.’s seven states, benefited from an inflow of international investors eager to tap the Gulf’s wealth after a six-year surge in oil prices.

Five-Year Boom

Real-estate values surged fourfold over the past five years, fueled by a supply shortage and an influx of expatriates. Rising commodities prices drove inflation, which accelerated to a record 11.1 percent in the U.A.E. last year. Dubai opened its property market to foreign investment in 2002.

Borrowers tapped mortgages for as much as 90 percent of a property’s value to buy homes on the manmade fronds of the Palm Jumeirah and villas with gardens or golf-course views in developments such as Emirates Hills, The Springs and The Lakes.

Now the credit crunch is coming to Dubai. It’s being aggravated by oil prices that have tumbled 68 percent since reaching a record $147.27 a barrel on July 11.

That will mean less interest in buying third or fourth homes in Dubai, said Gabriel Stein, a director at London’s Lombard Street Research, which provides economic analysis.

“There are bound to be white-elephant developments,” he said. “If it was built on the premise of ‘build it and they will come’ then that will now turn out to be a mistake.”

Bargain Villas

Banks are tightening lending or freezing it altogether. Amlak Finance PJSC, one of the U.A.E.’s biggest mortgage lenders, said Nov. 19 that it had suspended new home loans. London-based Lloyds TSB Group Plc stopped offering mortgages for apartments in Dubai on Nov. 11 and reduced the amount it will lend for villas to 50 percent of the price, from 80 percent.

The cost of a seven-bedroom villa on Palm Jumeirah dropped to as low as 19 million dirhams ($5.2 million) last month, from 30 million dirhams in September, according to the Dubai unit of German real-estate company Engel & Voelkers AG.

On Nov. 20, Nakheel and its South African partner threw a $20 million party for the opening of the $1.5 billion Atlantis resort, complete with the world’s biggest fireworks display and celebrities from actress Charlize Theron to singer Kylie Minogue. The hotel’s most expensive suite costs $42,000 a night excluding breakfast.

Two days later, the U.A.E. stepped in to shore up Dubai’s two biggest mortgage lenders, Amlak and Tamweel PJSC. They are merging with state-owned Real Estate Bank, based in Abu Dhabi.

No Longer Immune

Artur Khayrullin moved to Dubai three years ago to escape the Russian winter and invest in the booming real-estate market. Now he’s being forced to sell four apartments to raise cash for his family business in Moscow. They have been on the market for two months.

“With all this oil money in the region, I thought the Dubai property market would be secure from the global problems,” the 30-year-old Bentley owner said, reached on his mobile phone on the beach. Now, “nobody is getting financing.”

The worst may be yet to come as a glut of properties arrives on the market.

About 70,000 units are scheduled to be completed in 2009, more than half of which were originally planned for this year and last, according to a September report from EFG-Hermes.


Buyers willing to commit to purchases before construction are harder to find. So-called off-plan sales helped fuel the bubble with some properties passing through multiple buyers. Off-plan prices have dropped as much as 20 percent since September, according to developer Al Jabal Holdings.

“The speculative buyers were more than 50 percent of the market,” said Eckart Woertz, chief economist at the Dubai- based Gulf Research Center. “They have disappeared.”

Istanbul native Sebat said he’s prepared to leave after 12 years in Dubai.

“I will be in a very big panic and will want to get out of Dubai if I don’t think things will get better,” he said.

To contact the reporter on this story: Glen Carey in Dubai at gcarey8@bloomberg.net. [/u]



There's an old saying that goes something like "anyone who think he has the world by the balls will eventually find out he's only had his hand in his own pocket"

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atm



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PostPosted: Sat Dec 06, 2008 11:00 am    Post subject: Reply with quote

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duane



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PostPosted: Tue Dec 09, 2008 9:41 am    Post subject: Reply with quote

Please help as much as you can.

http://www.iht.com/articles/2008/12/08/europe/sex.php?page=1

World's oldest profession, too, feels crisis

'Hana Malinova, director of Bliss Without Risk, a prostitution outreach group, said she feared the current credit crunch was pushing more poor women into prostitution, since they could make more money selling their bodies - about €120 for a half-hour session at some upmarket sex clubs in Prague - than flipping burgers at McDonalds.'

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rustyh



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PostPosted: Wed Jan 28, 2009 8:30 pm    Post subject: Reply with quote

Quote:
House passes $US819bn stimulus bill
Article from: Agence France-Presse


From correspondents in Washington

January 29, 2009 09:50am

THE divided US House of Representatives has approved an $US819 billion ($1.23 trillion) stimulus package touted by President Barack Obama as a vital remedy to revive the ailing US economy.

The bill sailed through by a vote margin of 244-188, handing Mr Obama a major victory and shifting the battle over how best to draw the US economy out of a paralysing recession to the Senate.

The legislation cleared the House without so much as a single Republican vote, frustrating Mr Obama's hunt for bipartisan support, notably two unusual in-person appeals to his foes at the capitol one day earlier.

And 11 Democrats broke ranks to oppose the plan, which passed shortly after the House defeated a Republican rival measure anchored on tax cuts by a vote of 266-170.

The vote came hours after Mr Obama made a last-minute call for Republican votes, demanding "bold and swift" action to resurrect US jobs and arrest the US economy's brutal downward slide.

Mr Obama enlisted the muscle of 13 top executives of major American companies in a meeting today to pile political pressure on Republicans as the House opened its debate and also warned American workers were watching closely.

"The workers who are returning home to tell their husbands and wives and children that they no longer have a job, and all those who live in fear that their job will be next on the cutting blocks, they need help now," Mr Obama said.

"They are looking to Washington for action, bold and swift," Mr Obama said in a short speech in the East Room of the White House.
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Alfresco



Joined: 24 Jun 2008
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PostPosted: Sat Jan 31, 2009 10:17 am    Post subject: Reply with quote

And the beat goes on.


You just can't get away from the word GLOBAL monkey Every day over and over.
As they say, repeat it enough and it becomes true.

Quote:
Brown: First real financial crisis of global era

3 hours ago

DAVOS, Switzerland (AP) — British Prime Minister Gordon Brown warned Saturday that unease about the global financial crisis was no reason to retreat into protectionism and fear.

"This is not like the 1930s. The world can come together," he said in a solo session at the World Economic Forum on Saturday. The annual meeting has been overshadowed by the declining health of the global economy and uncertainty about the future.

"This is a global banking crisis and you've got to deal with it for what it is, a global banking crisis," Brown said. He said the only way forward was through cooperation.

Brown, who has spearheaded a major program aimed at restoring confidence in the British banking system through bailouts and keeping inflation low, said there is "a crisis of confidence, a crisis of trust in the banking system."

But he said that government action alone cannot unwind the damage wrought by the U.S. subprime mortgage crisis that spread globally and toppled major U.S. banks, froze credit markets and led to the loss of hundreds of thousands of jobs worldwide.

"It's important that we build on the right ideas," he said, adding that global oversight and an overhaul of missions by agencies like the World Bank and International Monetary Fund is needed.


The Associated Press

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Southpark Fan



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PostPosted: Sat Aug 18, 2012 5:34 pm    Post subject: Reply with quote

Banks Still Robo Signing | Foreclosure Fraud
Scot J. Paltrow, Reuters | July 19, 2012 | Foreclosure Community


'....In recent months, servicers have filed thousands of documents that appear to have been fabricated or improperly altered, or have sworn to false facts.

Reuters also identified at least six “robo-signers,” individuals who in recent months have each signed thousands of mortgage assignments – legal documents which pinpoint ownership of a property. These same individuals have been identified – in depositions, court testimony or court rulings – as previously having signed vast numbers of foreclosure documents that they never read or checked.

Among them: Christina Carter, an employee of Ocwen Loan Servicing of West Palm Beach, Florida, a “sub-servicer” which handles routine mortgage tasks for banks. Her signature – just two “C”s – has appeared on thousands of mortgage assignments and other documents this year.

In a case involving a foreclosure by HSBC Bank USA, a New York state court judge this month called Carter a “known robo-signer” and said he’d found multiple variations of her two-letter signature on documents, raising questions about whether others were using her name. That and other red flags prompted the judge to take the extraordinary step of threatening to sanction HSBC’s chief executive officer.

In a phone interview, Carter acknowledged signing large numbers of mortgage assignments this year, but said they all were legally done. To her knowledge, she added, no one else used her name.....'

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Peter



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PostPosted: Sat Aug 18, 2012 7:43 pm    Post subject: He is so full of shite, his eyes (and the rest) are Brown. Reply with quote

"It's important that we build on the right ideas," he said, adding that global oversight and an overhaul of missions by agencies like the World Bank and International Monetary Fund is needed.

As in, the best way to get out of debt is to borrow your way out?

(Perhaps the near-homonym burrow is more appropriate?)

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