THE UNSEEN HAND:GLOBAL COLLAPSE,OLD WORLD OUT!

GREETINGS,                                  

  I WOULD LIKE TO QUOTE MESSENGER ELIJAH MUHAMMAD BEFORE WE GO FURTHER.THIS EXCERPT IS TAKEN FRON CHAPTER 42 OF THE BOOK,”Our Saviour Has Arrived”, PGS.208-209,

I am your God, warns Allah (God), I and I Alone. But you have set up some other I’s with Allah, The One God. Allah (God) warned all prophets of the past, “Tell the people, do not set up any other god with me as My Equal. I Am Your God.”

The true religion, Islam, is the Beginning of God Himself. That is the age of Islam. The age of Christianity is only 2,000 years. It’s impossible to reconcile Christianity as being the true religion of God with a few words of Christianity used as proof.

 You are the losers…those of you who hold on the religion of Christianity. This is the threatened day against you. You want to put aside Allah (God) and His true Religion, Islam, His Messenger and his Message, and accept that which you hope to put in its place, Christianity. This will not be accepted by Allah (God).

 The heavens are full of stars. Maulana Muhammad Ali’s translation of the Holy Qur’an, in his footnote in that Chapter, says this represents a prosperous people and behind this prosperous people is a threatened destruction. They are in high places and authority of the earth.

The enemies of Allah (God) are working to reduce the population of the Planet Earth by means of poisoning the human beings and by setting up birth control laws under very wicked devices in order to rid the earth of people according to their idea of controlling the increase of the races and nations of the earth. This is a wicked thing.

Few people recognize the fact that we are living in the Day of Judgment of the wicked. You would like to ignore it. Why? It is because they love this wicked world which the wicked have built. They do not want to depart from it.”———-

  NOW WE CAN CLEARLY SEE THE STRESS AND STRAIN THAT THE ANGLO WORLD IS UNDER.YOU HAVE WARS ON TOP OF WARS(THESE ARE TO TRY TO PRESERVE ANGLO RULE AND KEEP EXPLOITING THE MASSES.YOU HAVE MASSIVE STORMS FROM NATURE(CAUSED BY GOD TO RAIN MORE DEATH AND DESTRUCTION ON THEM AND ADD MORE TO THE FINANCIAL WEIGHT THEY ARE ALREADY CARRYING).

  YOU SEE THE WORLD POPULATIONS IN AT ODDS WITH THEIR GOVERNMENTS AND DISSATISFACTION HAS REACHED ITS ZENITH.YOU HAVE THE ELITE CONTINUING ITS THEFT FROM THE MASSES.YOU HAVE SATANIC(ANGLO) LEADERSHIP TRYING TO USHER IN THEIR SAME ORDER REPACKAGED AS “THE NEW WORLD ORDER”.

 YOU SEE THE OLD PASSING AWAY…ANGLO DOMINANCE,CULTURE,POWER,SWAY,HISTORY,RULE,& CIVILIZATION!THIS HAS CAUSED TERROR ANF THE FOMMENTING OF TERROR.EVERYONE OUT SIDE OF A SMALL FEW IS IN TOTAL CONFUSION.

 THE FUNDAMENTALS OF INDUSTRY,FARMING,SCHOOLING,AGRICULTURE,FARMING,BUSINESS,INVESTMENT,ECT ARE IN DISSARRAY.THIS HAS CAUSED A COLLAPSE IN EVERY SECTOR OF SOCIETY ESPECIALLY IN THE HOUSING(PEOPLE HOUSE THEIR FAMILIES ANYMORE) AND EMPLOYMENT(JOB PRODUCTION HAS BECOME A THING OF THE PAST). ALL THESE FACTORS HAVE ADDED TO THE COLLAPSE OF THE ANGLO WORLD AND CIVIL INSERRECTION.WHAT WAS ONCE CONSIDERED THE STANDARD IN POWER AND THJE BEDROCK OF WHITE SUPREMACY IS NOW UNDER THREEAT OF COLLAPSE.

“Eurozone jobless figure hits double digits
Fri, 08 Jan 2010 10:29:33 GMT
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Unemployment woes in the Eurozone show little signs of abatement as the latest official data confirms a ten-percent jobless figure for the euro-based economies.

In its latest records on the unemployment status of 16 European countries using the euro currency, the European Union statistics office portrayed a bleak outlook for the region’s increasing jobless population and said that unemployment in the Eurozone has topped a critical ten percent.

The Friday report by the EU statistics body has put the unemployment figure at its highest level for over a decade.

The latest data comes as the continent is grappling with one of its worst economic downturn in decades.

GHN/DT”———————————–”

Six million in the US with no income but food stamps

7 January 2010

Some six million Americans—one in 50 people in the US—are living on no income other than $100 or $200 a month in food stamps, according to an analysis of state data by the New York Times. The number of people who reported that they are unemployed and receive no cash aid—neither welfare, nor unemployment insurance, pension benefits, child support or disability pay—the newspaper reported, has jumped by 50 percent over the last two years, as the recession has taken hold.

According to the January 3 article, the number of people reporting no income tripled in Nevada over the past two years, doubled in Florida and New York, and increased nearly 90 percent in Minnesota and Utah. In Wayne County, Michigan—which includes Detroit, where half the population is unemployed or underemployed—one out of every 25 residents reports an income of only food stamps. In Yakima County, Washington, the figure is one out of every 17.

The figures reveal the vast scale of human suffering in the US as the new decade begins and puts the lie to talk of an economic “recovery.” The 6 million people in households reporting no income—which includes 1.2 million children—is equivalent to the entire population of Indiana or Massachusetts, or the combined populations of Los Angeles, Philadelphia and Boston.

Such a social catastrophe underscores the indifference of the Obama administration, which has done virtually nothing to provide relief to those who have lost their jobs, homes and livelihoods—even as it spares no expense to shore up the fortunes of the financial elite and fund its ongoing wars.

The number of people without an income has been on the rise since 1996, when Democratic President Bill Clinton and the Republican Congress ended welfare as a universal entitlement, a status the federal relief program had enjoyed since its inception in the 1930s. Pledging to “end the cycle of dependency,” the Democrats and Republicans imposed lifetime limits on benefits, drastically reduced the level of cash assistance, and imposed restrictive “workfare” and other requirements on further aid.

Despite the increased need for relief, Obama has opposed any additional funding for what remains of the welfare program, called Temporary Assistance for Needy Families. Since their peak in the 1990s, welfare rolls are down nearly 75 percent, the Times reported.

“Many of those who would have received cash assistance in past recessions are not getting it now,” Judy Putnam, a spokesperson for the Michigan League for Human Services, told the World Socialist Web Site. “Only a third of the state’s children living in poverty are getting cash assistance compared with two-thirds before ‘welfare reform’ in 1996. People in Michigan are heavily dependent on food stamps.”

With jobless benefits covering only half of the unemployed, food stamps—which provide an average of $1 per meal per person, or around $100 per person each month for individuals or families earning up to 130 percent of the official poverty level—have become the safety net of last resort. A record 36 million people—one in eight people and one in four children—now rely on the food stamp program. The joint federal-state Supplemental Nutrition Assistance Program (SNAP) is expanding by 20,000 people per day, but is still estimated to serve only two-thirds of those who qualify.

An earlier Times study showed there are more than 200 US counties where food stamp usage shot up by at least two-thirds, including Riverside County, California, most of greater Phoenix and Las Vegas, a ring of Atlanta suburbs, and a 150-mile stretch of southwest Florida from Bradenton to the Everglades. The study found there are over 800 counties where food stamps feed one third of all children.

Late last year, researchers at Washington University in St. Louis released a study showing that 50 percent of all children and 90 percent of African American children will receive food stamps at some point before their 20th birthday. “Rather than being a time of security and safety,” said Mark Rank, Ph.D., one of the authors of the report, “the childhood years for many American children are a time of economic turmoil, risk, and hardship.”

The January 3 Times report focused on Florida, where the number of people with no income beyond food stamps has doubled in two years and more than tripled along the southwest coast, where a housing boom turned into a bust of foreclosed and abandoned homes. According to state data, those without income were split evenly between families with children and individuals. Those affected were also racially mixed—about 42 percent white, 32 percent black, and 22 percent Latino—with whites making up the fastest growing segment during the recession.

This plunge into destitution has affected wide layers of the population. The Times article cites a middle-aged mother of two, Isabel Bermudez, who moved from a Bronx housing project to sell real estate in Florida. Once enjoying a six-figure income, a house with a pool and investment property, she lost her job and home and ran out of unemployment benefits. Ms. Bermudez’s sole income is now $320 a month in food stamps. “I went from making $180,000 to relying on food stamps,” she told the newspaper, adding that without the program she wouldn’t be able to feed her children.

The increasing reliance on meager food stamp allowances exposes the absence of anything that can properly be called a social safety net in the US. The situation will only get worse, as both the Democrats and Republicans prepare to slash what remains of publicly funded programs in order to pay for the multitrillion-dollar Wall Street bailout and expansion of US military action around the world.

The theme of Obama’s State of the Union address—expected early next month—will be long-term deficit reduction and a further demand that the American people reduce their consumption. The White House is backing a bipartisan commission to recommend major cuts in basic social programs along with regressive taxes on consumption, and Obama’s budget director, Peter Orszag, has said the administration will take measures to reduce the deficit in its next budget due out in February. Such actions will throw millions more into poverty.

The social crisis facing working people—depression levels of unemployment, home foreclosures, the growth of hunger, poverty and homelessness—is the most graphic expression of the failure of capitalism, an economic system that benefits the wealthy few at the expense of the vast majority.

In the midst of this worsening situation for the working population, it was reported last week that the top three banks—Goldman Sachs, JPMorgan Chase and Morgan Stanley—which received tens of billions in public funds under the Troubled Asset Relief Program—will hand out $49.5 billion in end-of-year cash bonuses and stock awards. All told, US banks will dispense an estimated $200 billion in total compensation.

The Obama administration is continuing and accelerating the transfer of wealth from working people to those who are responsible for precipitating the worst economic breakdown since the Great Depression.

Nearly a year after his inauguration, President Obama has demonstrated he is nothing but a tool of the financial oligarchy. The very future of the working class depends on the development of a mass socialist movement against this administration, both big business parties, and the profit system which they defend.

Jerry White”————————”

  • ‘Impact of global financial crisis may get worse’

STAFF WRITER 12:40 HRS IST

Berlin, Jan 2 (PTI) German Chancellor Angela Merkel has warned the nation of greater economic difficulties in the New Year, saying the country is not out of the woods yet and the impact of the global financial crisis may even get worse in the coming months.

“We cannot expect that the economic downturn will soon be over. Certain things may even get worse in the New Year before getting better again,” she said in a radio and TV address to the nation. “2010 will decide how we come out of the crisis.”

However, the Chancellor struck a note of optimism, saying Germany has good reasons to hope that it will efficiently manage the worst financial crisis in its post-war history.

To achieve this goal, the government will take immediate steps to introduce new rules for financial markets.”———————–”

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Unlike the American banking system, the Israeli banking system is extremely centralized, with two large banks, Hapoalim Bank and Leumi Bank, and three medium size banks Mizrahi Bank, Discount Bank, and Habenleumi Bank. These 5 banks control basically the whole Israeli banking system while some other small banks have very little market share. (Come to think of it, maybe the United States is not so far away after the TARP scheme)
In reaction to the global economic recession Israel’s central bank governor, Stanley Fisher, cut interest rates from 5.25% to a record low of 0.5% creating a giant housing bubble.(see: Israel’s housing bubble).
“The market is on fire”, said Eti Lengrman, CEO of the mortgage segment of Discount Bank in an interview to the Israeli newspaper THEMARKER in the end of October. “In September alone the size of new mortgages was 3.2 billion NIS, which as an annual pace 30-35 billion NIS that is compared with 25 billion in 2007. The mortgage market reached in 2009 levels we have never seen before.”
Israeli bankers give to reasons to rise in total amount of new mortgages, the first being a growth in the number of mortgages and second being a growth in their size due to the rise in real estate prices. AMG, a mortgage consulting firm noted that the average mortgage rose from 400 thousand NIS in 2008 to over 620 thousand in 2009.
“The interest rates have encouraged people to look for alternatives for putting money in the bank, and houses even if they give only 4% annual return in rent became an alternative.” Said Shuki Burenstein, the CEO of leumi bank in an article published in THEMARKER.
The most popular mortgages are those that are fixed to the prime rate which is the interest rate determined by Israel’s Central Bank plus 1.5%. According to figures published by the Bank of Israel, the adjustable rate mortgages indexed to the prime rate where 65% of mortgages between January and August 2009, compared with less than a third in 2007. Burenstein even stated that up until Stanley Fisher started raising rates a few months back 75% of the mortgages where adjustable rate indexed to the prime rate. (Small reminder- this is the LARGEST BANK IN ISRAEL)
The rates people paid, and are still paying in Israel mortgages in completely ridiculous. With the average rate of and adjustable rate mortgage indexed to the prime just 1.68%!!!!! This fact makes the Israeli economy, and the Israeli banking system in particular sensitive to rate hikes (SEE: the affect of rate hike on Israel’s mortgagee market.)
The banks appear not to be too worried about the possible rate hike, repeating the exact same mistakes that American banks did a few years back. “For every 100,000 NIS that a borrower takes on 20 year mortgage he pays 482 NIS if he takes an adjustable rate indexed to the prime, if he takes a fixed rated it will cost him 716 NIS, for a 500,000 NIS mortgage that amounts to 1,170 NIS” (1/8 of Israel’s average monthly salary). A smart customer of ours knows that the rate will one day go up, but in meantime if he can enjoy the low rates, why not? He could always refinance when rates go up. In the last few years the mortgage market has become more sophisticated.” Said Lengerman from Discount Bank. Clearly Israeli bankers have learned nothing from the American experience. (Actually they may have learned something knowing that if everything goes wrong they will be bailed out.)
Mizrahi Tfahot:
Mizrahi Tfahot is Israel’s third largest bank and is much smaller than the two large ones, Leumi and Hapoalim. But in mortgages it is the largest with 44.5 billion NIS in mortgages. In first 9 months of 2009 it gave mortgages that amount to 9 billion NIS which is 35.4% of the market total! The bank is clearly on the path to become Israel’s countrywide financial (One of the first mortgage lenders in the U.S to go bust if anyone has forgotten.) It is worth mentioning that the banks CEO, which is the bank’s largest shareholder sold in the last few months close to half of his shares!
Leumi Bank
The second largest mortgage lender in Israel is Leumi Bank, which is Israel’s largest bank. It has a mortgage portfolio of 41.7 billion NIS and gave 24.1% of the total mortgages in Israel in 2009. The bank is controlled partly by the Israeli government, after it was nationalized in the 1980’s after Israel’s great banking crisis. (A few years after the banking crisis came hyperinflation if you want to know) Although it partly owned by the government, there are attempts to privatize it and it is by and large run independently and is accustomed to supervision like the rest of the banks in Israel( Until Stanley Fisher came along the supervision was very tight. Stanley Fisher, for those of you that don’t know is BERNANKE’S GURU)
Discount Bank
Discount bank gave 1.7 billion NIS of new loans, which amount to 10.1% of the market in Israel. The bank lost a bit of market share due to Mizrahi Bank’s crazy policies but it is also extremely vulnerable. The big jump in mortgages issued by the bank was actually in 2008 with the banks market share rising to 15% from only 5% in 2007. The bank almost went under in 2003 when Israel suffered from a severe recession, and there are a lot of rumors around that it still has problems from back then. (I must say I can’t confirm them)
Hapoalim Bank
The bank is one of the two largest banks in Israel but is only the third in mortgages, and the banks market share has actually fallen in the last two years but they have been giving a lot of focus lately on mortgages due to the fact that their international activates where halted because of the world recession and pressure from the bank of Israel (buying a bank in Ukraine in 2006 was not a good idea). The Banks CEO resigned from the bank during the panic days of 2008 due to heavy pressure from the Bank of Israel and Stanley Fisher (rumors say that the bank held a lot of Lehman Brothers bonds days before it collapsed and where ordered by Fisher to sell. Again I can’t confirm.)
Habenleumi Bank
The bank is a small bank but it grew very fast in the last two year (over 20% increase in mortgages issued in 2009 compared to 2008) the bank is relatively small and very vulnerable to a downturn in housing. Two other small banks in Israel are Jerusalem Bank and Eigud Bank which give a combined total of 1 billion NIS in new mortgages in 2009.
ISRAELI BANKS HAVE BEEN GOING UP LIKE CRAZY AND THE HOUSING BUBBLE IS TOTALLY IGNORED BY INVESTORS. Like in the U.S, it will take time until the FALL IN HOUSING PRICES will start to affect the 5 banks result but even now the banks are priced so high that one can’t imagine they can go much higher.
Short sellers that like to short at the top and don’t mind waiting for a while will find it comfortable to start now since prices can’t go much higher. Those that can’t stand waiting will join the train when the market tops. I still maintain that it will make the SHORT OF THE YEAR  “

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