Greek Economy Remains a Mess

April 24th, 2015 Comments off

Five years after the onset of the Greek sovereign debt crisis, Greece remains debilitated by economic and fiscal crises.  Out of desperation, the Greek voters elected the left-off-center Syriza Party to head a government that ran on a platform of repudiating the austerity measures imposed on Athens in exchange for loans and debt right-offs from the European Monetary Union members and IMF.

When the Greek debt crisis first arose, there was fear of contagion, leading to massive bailouts for Athens, largely funded by the German taxpayer. Those taxpayers are now fed up, and it would be politically inexpedient for Angela Merkel to go back to the same well to provide further assistance to Greece, especially when its government is openly engaged in anti-German rhetoric.

The Greek finance minister, Yanis Varoufakis, is basically offering a poison pill to his European partners; we don’t want o leave the Eurozone–but neither do we want to pay the fiscal price of remaining, so save us with more cash, or we’ll blow up the Eurozone. Problem is, more Europeans, especially decision makers in Germany, are becoming increasingly accepting of a Greek exit from the Euro, on the premise that it would not be as bad as Athens thinks for the remaining partners in the Eurozone.

The bottom line is we really do not know how the international markets or global economy will react to a Greek exit, but this is a scenario that is looking a lot more plausible than only one year ago.

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

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Hillary Clinton Nude

Hillary Clinton Nude

Hillary Clinton Seeks U.S. Presidency–Three Reasons To Say No

April 13th, 2015 Comments off

No better illustration exists of the dysfunctionality of American politics than the phenomenon of Hillary Clinton. Devoid of any measurable accomplishments that have unambiguously advanced the interests of the United States and her people, Mrs. Clinton’s stature as the frontrunner in the upcoming 2016 presidential contest and virtual shoo-in for the Democratic Party’s nomination is predicated entirely on her status as a political celebrity. And those who are utterly objective recognize that this celebrity power that has catapulted Hillary Clinton to within striking distance of the presidency is totally derived from the brand name that comes with being the wife of Bill Clinton. It is simply inconceivable that Hillary Clinton would have embarked on her journey towards the presidency, which began with her election as Senator from New York in November 2000, if her surname had been anything other than Clinton.

 No doubt, millions will discard objectivity, and project their hopes for the future on the public persona of Hillary Clinton, as it will be carefully constructed by professional political strategists and public relations experts, all funded by the billion dollars plus that the Clinton brand will attract through its fundraising apparatus. Those who are more sober and reflective in their political judgments should consider the following three points I raise as reasons to be wary of a second Clinton presidency.

 1. Hillary Clinton plays loose with the truth, and has a record that raises serious ethical questions. The examples I could cite are numerous, but one stands out, because it displays a level of public cynicism that is alarming in any politician. During her unsuccessful 2008 primary contest with then-Senator Barack Obama. Hillary Clinton sought to “prove” her physical courage  by repeatedly claiming in a number of stump speeches that she had braved sniper fire in Tuzla during the war in Bosnia.  As she stated on one occasion (http://www.telegraph.co.uk/news/worldnews/1582795/Hillary-Clintons-Bosnia-sniper-story-exposed.html), “I remember landing under sniper fire. There was supposed to be some kind of a greeting ceremony at the airport, but instead we just ran with our heads down to get into the vehicles to get to our base.”

 When news footage emerged clearly showing no sniper fire or even a whiff of threatening activity as Hillary Clinton emerged from her aircraft, it became clear that the aspiring presidential hopeful had flat-out fabricated the story of her heroism under fire out of whole cloth. Caught in a lie, Mrs. Clinton claimed that because she was fatigued from the rigors of a long campaign she had merely “misspoke.” In my view, her oft-repeated epoch of contrived courage was too specific to be a case of misspeaking, but is a clear indication of Hillary Clinton’s capacity for engaging in untruths as a matter of political expediency.

 2. Hillary Clinton was a full partner with her husband in unethical conduct during the presidency of Bill Clinton. A prime example is what happened at the very end of the Clinton presidency, when a series of questionable presidential pardons were granted that were so outrageously incongruent, the whole episode came to be known as “Pardongate.” Among the rogues gallery of pardon recipients courtesy of President Clinton were four convicted swindlers  from the town of New Square in Rockland County, New York. The largely Hassidic community of New Square voted for Hillary Clinton in her 2000 senatorial campaign in overwhelming numbers, at the behest of community leaders. Shortly after her successful senate campaign, Hillary Clinton joined her husband for a private White House meeting with supporters of the convicted New Square swindlers.

 Though she has never revealed what was discussed–or promised–during the closed door meeting, Hillary Clinton maintained that she had no prior knowledge of her husband’s intentions on granting presidential pardons to the four swindlers from New Square. However, the feeling of disgust that arose in the wake of Pardongate became pervasive and non-partisan.  Then a liberal columnist for The New York Times, Bob Herbert wrote in a column published on February 26, 2001 (http://www.nytimes.com/2001/02/26/opinion/in-america-cut-him-loose.html):

 “You can’t lead a nation if you are ashamed of the leadership of your party. The Clintons are a terminally unethical and vulgar couple, and they’ve betrayed everyone who has ever believed in them.”

 3. As a U.S. senator, Hillary Clinton became complicit in America’s disastrous war in Iraq. The most important vote Hillary Clinton cast during her two terms as United States senator from New York was undoubtedly Senate Joint Resolution 45, which authorized President George W. Bush to unleash military force against Iraq at any time, without further consultation with Congress, let alone a declaration of war.  The disastrous impact of that hideous example of strategic miscalculation is still with us, witnessed by the tectonic convulsions ripping the Arab world, and the rise of the Islamic State, which emerged out of the caldron created by the U.S. invasion of  Iraq in 2003.

 At the time of her vote in favor of instigating America’s war in Iraq, Hillary Clinton boasted that her decision was based on “careful consideration.” If this calamitous decision is the best that Hillary Clinton is capable of, that alone should raise serious questions about her suitability to serve as America’s Commander-in-Chief.

 During the 2002 vote on authorizing military force in Iraq, only one Republican senator had the courage and insight to vote against President Bush’s rush to war. He was Senator Lincoln Chaffee of Rhode Island. Chaffee is now a Democrat, and is seriously considering challenging Hillary Clinton for the 2016 Democratic Presidential nomination. This is what Lincoln Chaffee had to say to MSNBC’s  Lawrence O’Donnell about Hillary Clinton and why her vote in support of the Iraq war should preclude her from becoming the next U.S. President(http://www.realclearpolitics.com/video/2015/04/10/republican_turned_democrat_lincoln_chafee_hillary_disqualified_from_running_for_president_by_supporting_iraq_war.html):

 ” It’s relevant to what we read about every day in the papers in the Middle East and other areas of the world. ISIS and what’s happening in Nigeria and how we confront some of these extremist insurgencies… Even though it’s a long time ago, back in 2002, the ramifications are still felt today.”

 In 2008, support of the Iraq war was the key ingredient that led to Hillary Clinton’s defeat at the hands of Barack Obama. However, as 2016 approaches, collective amnesia clouds much of America’s political landscape. Hillary Clinton’s vote in support of a calamitous military adventure, along with past ethical indiscretions by both she and Bill Clinton, are largely discounted by large sections of the voting public, who now view the Clintons with benign nostalgia. If this force of celebrity star-power and selective memory proves impervious to objective scrutiny and enlightened skepticism, than Hillary Clinton may very well win the next presidential election. In that case, the loser will be America, condemned to repeat the antics and machinations from a political pair that Bob Herbert rightly characterized as a “terminally unethical and vulgar couple.”

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

CLICK ON IMAGE TO VIEW VIDEO

Hillary Clinton Nude

Hillary Clinton Nude

 

Fed Chair Yellen Muses Rate Increase

March 28th, 2015 Comments off

After a decade and a half of very low interests rates–and virtually zero interest rates since the onset of the global economic crisis in 2008, the U.S. Federal Reserve is increasing the rhetoric regarding what everyone knows is inevitable: rate increases.  The most recent comments by the Fed chair, Janet Yellen, point in that direction.

Yellen couched her words carefully, hinting that the rate increases will be slow and gradual, occurring in small increments over a period of several years. But the message is clear; monetary chicanery has run its course as an economic palliative. The distortions in the economy created by artificially low interest rates cannot be sustained forever.  The problem is, what bullets will be left to policymakers when the next recession strikes?

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

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Hillary Clinton Nude

Hillary Clinton Nude

Mario Draghi and ECB Begin Quantitative Easing

March 7th, 2015 Comments off

Following the prescription of the U.S. Federal Reserve begun under Ben Bernanke, the president of the European Central Bank, Mario Draghi, is about to unleash the monetary torrent that is referred to as quantitative easing. With the Eurozone remaining mired in a sea of economic stagnation, fiscal debt crises and enduring deflation, Draghi  is gearing up the printing presses, boasting that the ECB will succeed where the Eurozone politicians failed.

With a 1.1 trillion euro quantitative easing program about to be launched, which is roughly equivalent to $1.250 billion USD, many in the markets are hoping that the  perceived improvement in American economic metrics  attributed the Fed’s quantitative easing will come to Europe soon.  The massive debts that will never be repaid and the unprecedented distortions created in the U.S. market by those loose monetary policies are at present out of sight. There is such desperation in the Eurozone, amplified by the impotence of the political class, that the ECB is, just as with the Fed in the U.S., the last hope for the European economy.

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

CLICK ON IMAGE TO VIEW VIDEO

Hillary Clinton Nude

Hillary Clinton Nude

Why Does Iran Want Nuclear Weapons? An Alarming Possibility

March 3rd, 2015 Comments off

A heavy cloak of surrealism encapsulates the negotiations the Obama administration is conducting with Iran over the latter’s nuclear enrichment program. Though the premise of the diplomatic negotiations being spearheaded by U.S. Secretary of State John Kerry is to permit Iran to retain a substantial uranium enrichment program so long as the Iranian nuclear project is “peaceful,” there is a clear consensus by senior members of America’s intelligence community, past and present,  that Iran’s nuclear activities are solely geared towards eventual weapons production. An example of that viewpoint was expressed recently by the former deputy director of the Central Intelligence Agency,  Michael Morell.

 

In a February interview with Charlie Rose on Bloomberg TV, the former CIA deputy director, commenting on leaks indicating that the Obama administration proposed to allow Tehran to retain more than 6,000 functioning centrifuges utilized for uranium enrichment, said “If you are going to have a nuclear weapons program, 5,000 is pretty much the number you need.” Morell added, “If you have a power program, you need a lot more. By limiting them to a small number of centrifuges, we are limiting them to the number you need for a weapon.” (http://www.politifact.com/punditfact/statements/2015/feb/25/michael-morell/odd-reality-irans-centrifuges-enough-bomb-not-powe/) In the same interview, the former number two man at the CIA stated that he is convinced that Iran’s supreme leader, Ayatollah Ali Khamenei, has already made a decision to acquire nuclear weapons capability, most probably through an undetected covert program. (https://archive.org/details/BLOOMBERG_20150219_000000_Charlie_Rose#start/2640/end/2700)

 

Having made the leap in recognizing that Iran’s claimed “peaceful” nuclear project is  without question a weapons program, functioning alongside Tehran’s large-scale ballistic missile development and production project, the intelligence experts, including Michael Morell, provide explanations for the motivation behind Iran’s nuclear weapons program deeply rooted in Western concepts, including regime preservation and enhancing Iranian hegemony in the Middle East. In my view, this is a mistaken approach, because it is based solely on speculation from analysts schooled in secular geopolitical theories.

 

I offer a dissenting view on the purpose of Iran’s nuclear weapons project, which is based on what the supreme leader of Iran has communicated to his own Iranian constituents. On July 9, 2011 Ayatollah Ali Khamenei delivered a speech to teachers and graduates of Mahdaviat, a term referring to the belief in Shia Islam in the return of the 12th Imam or Mahdi, an eschatological figure that will supposedly herald in an era of global Islamic justice through an apocalyptic annihilation of the present world order. The speech the supreme leader delivered is extraordinary in its content, and can be viewed on YouTube, complete with English subtitles (http://youtu.be/MtzvMkV3V-g). What is most striking about Khamenei’s discourse is that the most senior political leader of a geographically complex nation of 80 million people, with major economic and social challenges, spoke for more than twenty minutes without a single reference to the myriad of secular issues confronting Iran. The entirety of the speech delivered by the supreme leader of Iran was devoted to the return of the 12th Imam as the Mahdi from a state of occultation. He closed his address with the following words: “I hope we will be among his followers both when he is in occultation and when he re-appears. By Allah’s favor, we will be among the soldiers who will fight alongside Imam Mahdi and I hope we will be martyred for his cause.”

 

In the second decade of the 21st century it staggers the Western mind to have to intellectually confront a nation-state conducting its policy for a theological and possibly eschatological purpose. However, based on what Iran’s supreme leader has clearly communicated is his top priority, namely the martyrdom of the Iranian people for the sake of the return of the 12th Imam, the possible connection of Tehran’s nuclear weapons project with the theological agenda of that nation’s rulers should not be discounted by policymakers in Washington. The Obama administration and the State Department may find it inconceivable that a nation in our contemporary world would create a vast uranium enrichment capability, much of it at hardened or underground locations, for the objective of bringing about an apocalyptic event that will set the stage for the return of the 12th Imam. However, ignoring the words of Ayatollah Ali Khamenei  and transposing our own Western concepts on how we perceive Iran’s motivation for creating its nuclear project is a perilous course for America and the world to pursue.

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

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Hillary Clinton Nude

Hillary Clinton Nude

U.S. Economy Falters: Growth Fell In Last Quarter of 2014

February 28th, 2015 Comments off

 

According to revised data from the Commerce Department, the American economy grew by only 2.2 percent in Q4 of 2014, significantly lower than the earlier reported figure of 2.6 percent, which caught analysts off-guard.  The corrected GDP growth figure for Q4 is a sharp drop from the reported 5 percent growth in Q3, throwing a wet blanket over claims made earlier by the Obama administration that the U.S. economy was set for strong, consistent growth.

Typical with poor economic data emanating from Washington, the analysts and pundits are already doing their spin routine, claiming that the disappointing economic data for Q4 of last year was merely a temporary speed bump. The prediction of annual GDP growth in excess of 3 percent in 2015 for the American economy is being forecasted by many observers.

But what about the undeniably very bad economic news coming from the Eurozone and Russia, and the slowdown in China and Brazil? As the U.S. economy is not a island, it seems unreasonably optimistic to believe that the proliferation of bad economic news from abroad will not impact the United States negatively.

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

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Hillary Clinton Nude

Hillary Clinton Nude

Obama, Iran and the late William Buckley

February 16th, 2015 Comments off

There are growing indications that the Obama administration will sign a nuclear agreement with Iran that will allow Tehran to become a nuclear-threshold state. It seems the only issue being contested at present is the extent of the cosmetic and temporary concessions the Iranians will grant so that Iran does not fully emerge as a nuclear weapons state until after the expiration of the Obama presidency.  The disarming body language and genuine warmth that characterizes the public interaction between U.S. Secretary of State John Kerry and Iran’s Minster of Foreign Affairs Mohammad Javad Zarif seems to point in that direction, belying the fact that these two nations have not had diplomatic relations for 35 years because the government of one of those states ordered its armed thugs to attack and seize the embassy of the other nation, in the most flagrant violation of international law, holding its diplomats hostage for 444 days.

Of course, Barack Obama has promised on more than one occasion that he would never permit Iran to become a nuclear armed state. Then again, this is the same President Obama who warned Syria’s president not to use poison gas on his own people, or there would be consequences for crossing that red line. And let us not forget the President’s assurances that the war in Iraq was over and it was safe to withdraw all U.S. forces, or that the emerging Islamic State was nothing more than a “jayvee team” or that Yemen was a great success story for America’s anti-terrorism strategy–the same Yemen where Washington was recently forced to close its embassy after a coup in that country staged by anti-American rebels loyal to Iran.

The consequences involved in permitting Iran to become a nuclear weapons state are, obviously, far more consequential. Barack Obama is not the first president confronting a rogue regime about to acquire nuclear weapons capability. In the early 1990s, evidence mounted that North Korea was embarking on a nuclear weapons program. As with President Obama, then President Clinton pledged to the American people that the North Korean regime would never be permitted to obtain nuclear weapons. Then former President Jimmy Carter came to the rescue. He flew to North Korea, met with the reigning dictator and laid the groundwork for what became the 1994 Agreed Framework treaty, which supposedly froze North Korea’s attempt to develop atomic weapons through plutonium production in exchange for U.S. economic aid. However, the treaty collapsed after Clinton left office when U.S. intelligence learned that North Korea had cheated on the agreement by secretly developing a uranium enrichment program as an alternative path towards developing nuclear bombs. In 2006, North Korea conducted its first test detonation of a nuclear bomb.

It appears that the Obama administration is following in the path originally set by President Clinton. In addition to tolerating a vast nuclear enrichment facility, much of it underground, that can only have been established for the eventual mass production of nuclear bombs to mate with Tehran’s increasingly powerful and longer-range ballistic missiles, the current administration has been passive in the face of Iran’s growing hegemony in the Middle East, as witnessed by Tehran’s virtual  occupation of Lebanon through its proxy militia, its massive intervention in the Syrian civil war on the side of Bashar al-Assad, and increasing military involvement and control in Iraq and the recent pro-Iranian coup in Yemen. This passivity is inexplicable, considering the potential  and dire strategic and economic consequences for the United States.

What about the character of the regime that President Obama and his national security team seem about to trust with the most destructive weapons on earth? Amid  the long list of Iranian terrorist attacks against the U.S. and its interests aboard  unleashed by Tehran since 1979, there is one which, more than any other, defines the essence of the regime of the Ayatollahs and its contempt for the United States.

In 1984 the CIA station chief in Beirut, William Buckley, was kidnapped by the Iranian controlled Hezbollah  militia. The fate of William Buckley was disclosed by Washington Post columnist Jack Anderson in an article published the following year (http://news.google.com/newspapers?nid=1979&dat=19851210&id=ZqUiAAAAIBAJ&sjid=1a0FAAAAIBAJ&pg=3231,8626261). According to Anderson, who based his account on confidential sources within the U.S. intelligence community, Buckley was smuggled into Iran, and subjected to numerous bouts of brutal interrogation under barbaric torture in the basement of the Iranian foreign ministry, the same building being presided over today by John Kerry’s Iranian counterpart, Zarif.  The barbarous torture eventually induced a heart attack, leading to the death of Buckley. As Jack Anderson stated in his article, Iran was responsible for the horrific murder under torture of an American patriot.

President Obama seems determined to move forward on a nuclear agreement with the regime that tortured and murdered William Buckley. He should reflect on how this dedicated CIA agent must have felt, abandoned by his government and alone with his Iranian torturers, enduring a hellish nightmare in the basement of the Iranian foreign ministry.  Is the nation William Buckley died for now about to be abandoned, for the sake of a presidential legacy?

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

CLICK ON IMAGE TO VIEW VIDEO

Hillary Clinton Nude

Hillary Clinton Nude

Islamic State–aka ISIS–Message To The World: Abu Bakr al-Baghdadi Takes No Prisoners

February 7th, 2015 Comments off

 

“The medium is the message”

Marshall McLuhan

 

 

In declaring himself caliph of the Islamic State, Abu Bakr al-Baghdadi is following in the footsteps of an ancient role model, Abu al-Abbas, founder of the Abbasid Caliphate. Historians regard the Abbasid dynasty as the most successful Arab Caliphate. Under their rule, Arab-speaking Islamic civilization reached its zenith, and at its peak it exceeded European civilization in its economic and scientific advancement. Its founder, however, did not rise to power on a bed of roses by conforming to what present-day international law experts would label the “rules of war.” Abu al-Abbas marched to the beat of a different drummer, whose echoes resonate with the present-day leader of the Islamic State.

Abu al-Abbas appointed himself caliph in a manner replicated by Abu Bakr al-Baghdadi. He initiated a civil war against the then-existing Omayyad Caliphate, raising the black flag  that would be copied nearly thirteen centuries later by al-Baghdadi. The founder of the Abbasid dynasty had a very simple military strategy; slaughter every supporter, servant and blood-related operatives of the Omayyad Caliphate, without mercy and always justified on the basis of Islamic texts, suitably interpreted. Then, after the capture of Damascus by his forces in 750 A.D. , the new caliph seemed to relent in his blood lust, inviting eighty surviving officials of the deposed Omayyad Caliphate to a reconciliation dinner. While the unsuspecting dinner guests were gorging on food and drink, they were suddenly attacked by soldiers of the caliph, and hacked to pieces. As described in various Islamic histories, the caliph insisted that the dinner continue, including musical entertainment, without the corpses of the slaughtered victims being removed. Shortly afterwards, Abu al-Abbas delivered his first public address as caliph, in which he proudly referred to himself as “al Saffah,” Arabic for “The Bloodshedder.” That is how the founder of the Abbasid Caliphate has become known in history, and he is the role model for the man who appointed himself caliph of the nascent Islamic State.

The horrifically barbaric ritual murders being propagated via the Internet by the Islamic State would, in a different context, be classified as snuff pornography. However, in the second decade of the 21st century they amount to weapons of war. The Islamic State may not have an air force to compete with American dominance in the skies over Syria and Iraq, but it does have equal access to the  Internet, which in effect serves as the tactical air support for the Islamic State. In an era of asymmetrical warfare, it is the means utilized by al-Baghdadi to create what amounts to a level playing field, enabling him to confront the United States with some degree of success.

Cyberspace has evolved into the most effective operational realm for the Islamic State, and is integrated into all of its activities; military, ideological and psychological. The caliph of the Islamic State has created an image akin to that of the founder of the Abbasid Caliphate; “the Bloodshedder.” In one of the video execution spectacles released by the Islamic State, al-Baghdadi declared : “Know that we have armies in Iraq and an army in Sham [Syria] of hungry lions whose drink is blood and play is carnage.”

With the Islamic State and its elaborate Internet propaganda arm, it is clear that the medium is indeed the message. It provides the war effort of the new caliphate with a pervasiveness that is truly global in its impact. It conveys the clear message that the armies of al-Baghdadi take no prisoners, and display not the slightest compassion or mercy towards those it deems as the “unbelievers.” It also sends another message to that special breed of men it seeks to recruit as fighters;  a theologically-sanctified collective psycho-pathology that provides those on our planet with such inclinations an environment to practice barbaric cruelty on human beings without limits of conscience or the restraint of a Western-imposed Geneva Convention.

Standing in opposition to Abu Bakr al-Baghdadi is President Barack Obama, America’s Commander-in-Chief and leader of the Free World, whose latest pronouncement on this conflict, made at the National Prayer Breakfast, was advice to Christians not to get on their “high horse” because of the violence being committed by the Islamic State.  “People committed terrible deeds in the name of Christ,” proffered the President, in connection with the Crusades that occurred a millennium ago (http://www.bbc.com/news/blogs-echochambers-31156153).

While Obama engages in an esoteric verbal exercise  in deflecting any reference to radical Islamic extremism, his opponent, free of any intellectual ambiguity, ruthlessly but effectively pursues his war against those he deems the unbelievers. If anything, the most recent comments by the president display  growing disarray and confusion within the Obama administration on how to wage war against the Islamic State.

 

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

CLICK ON IMAGE TO VIEW VIDEO

Hillary Clinton Nude

Hillary Clinton Nude

 

 

U.S. Economy Was In Slowdown In Final Quarter of 2014

January 31st, 2015 Comments off

The U.S. Commerce Department’s Bureau of Economic Analysis  has released its initial figures for the final quarter of 2014; GDP grew by 2.6 percent, a disappointing showing after the Q3 results supposedly showed 5 percent GDP growth. Several observers were skeptical of the 5 percent number for Q3, which was the basis for the Obama administration proclaiming victory and the return of economic prosperity in the United States.  Even if the Q3 number was correct,  overall GDP growth in the U.S. economy, based on official figures, was 2.4 percent for all of 2014.

While the official GDP growth figures for 2014 indicate the fastest level of economic growth in the U.S. since the global economic and financial crisis arose in 2008, it is still a very weak number after six years of a supposed recovery, and after trillions of dollars of deficit spending and vast monetary easing by the Federal Reserve in a frantic effort to stimulate the American economy. And now, Europe and even China are facing a slowdown, and in the case of the Eurozone, probable recession, likely to be exacerbated by the looming conflict with Greece over the terms of that nation’s financial bailout.

The U.S. is not immune to what is happening elsewhere in an era of interconnected economics. The lackluster growth figures for Q4 is a clear sign of that.

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

CLICK ON IMAGE TO VIEW VIDEO

Hillary Clinton Nude

Hillary Clinton Nude

 

China’s Economic Growth Slows To Lowest Level Since 1990

January 20th, 2015 Comments off

China’s National Bureau of Statistics released GDP growth figures for 2014, indicating that the world’s second largest economy grew that year by 7.4 percent (http://www.stats.gov.cn/english/PressRelease/201501/t20150120_671038.html), below the planned rate of 7.5 percent but exceeding expectations of 7.2 percent. Even if the figures released by Beijing’s NBS are accurate, they reflect a continuing trend of diminishing rates of growth over the past several years, and are the lowest level of GDP growth in 24 years.

But are the official figures on China’s GDP growth believable? Many elements of China’s macroeconomic performance are shrouded in opacity. The architecture of this vast economy  is formulated from a fundamentally contradictory hybrid mix of private sector capitalism and still overwhelming and largely inefficient state controlled sector, especially in heavy industry. Much of China’s growth in the past, impressive as it seems by overall world standards, was based on massive government spending on underutilized infrastructure; the accounts of entire blocks of apartment buildings that remain unoccupied are well known. There are the dangerous property bubbles, early signs of deflation, and rising debt levels in both the public and private arenas, with growing signs of a future explosion in bad debts held by Chinese financial institutions.

Officially, China’s leadership has resorted to what they call the “new normal,” a more sustainable rate of economic growth. The reality is likely a lot more murkier and volatile than the official statistics and pronouncements would indicate.

The clear trend of diminishing rates of GDP growth in China, whether extrapolated from official figures or derived from a more nuanced assessments of China’s economic performance, are already having an effect on the entire global economy. As with the United States, the massive size of the Chinese economy means that lower GDP growth rates create a head wind for the global economy as a whole. It is therefore no surprise that the International Monetary Fund has just revised its forecast of global economic growth downward by the most substantial margin in three years, to 3.5 percent from the 3.8 percent projected only  three months ago by the IMF (http://www.imf.org/external/pubs/ft/survey/so/2015/NEW012015A.htm). This is a harbinger of what lies in store for the global economy as the formerly massive rates of Chinese economic expansion continue to recede.

 

If Hillary Clinton runs for President of the United States  in 2016, see the video about the book that warned back in 2008 what a second Clinton presidency would mean for the USA:

 

CLICK ON IMAGE TO VIEW VIDEO

Hillary Clinton Nude

Hillary Clinton Nude