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Archive for November 7th, 2007

The Rising Cost Of Oil… And The Vulnerable Economy

By- Suzie-Q @ 8:47 PM MST

Experts uncertain if $100 crude — and possibly higher — will hurt growth

Fueled by strong demand, worries about supplies and the eroding purchasing power of the dollar, crude oil prices continued to close in on the $100 a barrel mark Wednesday — up $35 in just the past six months.

With oil prices advancing so rapidly, the immediate unknown is where they will stop before taking a breather. But the longer-term question may be even tougher to answer: How high can oil prices go before the higher cost of energy tips the U.S. economy into recession?

The rising cost of energy was one of several factors that send stock prices tumbling Wednesday, with the Dow Jones industrial average losing 360 points, or nearly 3 percent. The Dow and other major indices have lost about 6 percent in the past month, largely because of problems at big banking and brokerage firms related to bad mortgage loans.

Despite brief pauses, crude oil prices have risen relentlessly since May, as a strong global economy continues to burn through supplies as quickly as producers can replace them. A falling U.S. currency, meanwhile, has increased the price in dollar terms and stoked buying by investors looking for a place to hedge the dollar’s decline.

As a result, the short-term peak price is anybody’s — and everybody’s — bet.

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Evening Jukebox… White Wedding

By- Suzie-Q @ 8:35 PM MST


Billy Idol – White Wedding

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BAM! The Jig is up for Fannie Mae and Freddie Mac!

by GEF @ 4:14 PM MST

Looks like the Jig is up for Fannie and Freddie and their anyone can own a house scam. The blame game has just begun and the fallout is gonna be real ugly and far reaching justice peeps! Money for Nuthing.. (see video below)

The mortgage providers’ shares fell after Cuomo said in a statement that he plans a news conference today in New York to announce “a significant new development in his expanding investigation into the mortgage industry involving Fannie Mae and Freddie Mac.”


Cuomo Widens Investigation to Fannie Mae, Freddie Mac
By James Tyson

 

Enlarge Image/Details

Nov. 7 (Bloomberg) — New York Attorney General Andrew Cuomo expanded his investigation of the mortgage industry to include Fannie Mae and Freddie Mac, the two biggest U.S. providers of mortgage financing.

The mortgage providers’ shares fell after Cuomo said in a statement that he plans a news conference today in New York to announce “a significant new development in his expanding investigation into the mortgage industry involving Fannie Mae and Freddie Mac.”


Dire Straits – Money for Nothing!

(more…)

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anthony @ 18:20 GMT

Justin Finney | Op Ed News | Wednesday November 7, 2007

If Washington’s support for Musharraf as he seizes power to forestall a court decision on the legality of his dual power as president and military commander teaches us anything, it’s that democracy promotion is an afterthought in US foreign policy. Or better put, a euphemism for free-market promotion, whether in the cone of South America during the seventies or in Iraq today.

But what about democracy at home? Here in the US? If the Bush administration ever felt desperate enough politically, could it or would it ever arbitrarily declare martial law? A yes answer might not be so far out there, and it would arguably be legal, thanks to a rider inserted in the 2007 Defense Authorization Act. (more…)

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A Vote for Mukasey Is a Vote for Torture

anthony @ 18:20 GMT

Mukasey

Amy Goodman | Truthdig | Posted on Nov 6, 2007

Judge Michael Mukasey admits waterboarding is repugnant, but refuses to say whether it amounts to torture. Yet Democratic Sens. Charles Schumer and Dianne Feinstein voted for his confirmation as U.S. attorney general anyway. Mukasey, Schumer and Feinstein should talk to French journalist Henri Alleg. An editor of a paper in Algeria, he was waterboarded by the French military in 1957, when the French were trying to crush the Algerian independence movement. The 86-year-old journalist spoke to me from his home in Paris:

“I was put on a plank, on a board, fastened to it and taken to a tap [water faucet]. And my face was covered with a rag. Very quickly, the rag was completely full of water. You have the impression of being drowned. And the water ran all over my face. I couldn’t breathe. It’s a terrible, terrible impression of torture and of death, being near death.”

Journalist Stephen Grey, whose documentary “Extraordinary Rendition” airs on PBS stations this week, told me: “I, like many journalists, should issue a correction, an apology really, because we all reported waterboarding as a simulated drowning. It is clear from those who did it, this is actual drowning … this is something that shocks the conscience and therefore is torture.”

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Related Stories:

ACLU learns of third ‘secret’ torture memo from Gonzales Justice Department

Legal papers filed in federal court Monday in a lawsuit brought by the American Civil Liberties Union and other organizations disclose that the Justice Department’s Office of Legal Counsel (OLC) issued three secret memorandums relating to interrogation practices of detainees — one more than has been publicly revealed.

More…

Guy Fawkes wasn’t tortured!

Guy Fawkes signature before being tortured, I mean, subjected to height enhancement:

And after:

Apparently, it did wonders for his confidence with women!

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The Presidency Is Now a Criminal Conspiracy

Sudhan@16:15 CET

Bush may not observe the rules, but the country abides by them

By Keith Olbermann

It is a fact startling in its cynical simplicity and it requires cynical and simple words to be properly expressed: The presidency of George W. Bush has now devolved into a criminal conspiracy to cover the ass of George W. Bush.

All the petulancy, all the childish threats, all the blank-stare stupidity; all the invocations of World War III, all the sophistic questions about which terrorist attacks we wanted him not to stop, all the phony secrets; all the claims of executive privilege, all the stumbling tap-dancing of his nominees, all the verbal flatulence of his apologists…

All of it is now, after one revelation last week, transparently clear for what it is: the pathetic and desperate manipulation of the government, the refocusing of our entire nation, toward keeping this mock president and this unstable vice president and this departed wildly self-overrating attorney general, and the others, from potential prosecution for having approved or ordered the illegal torture of prisoners being held in the name of this country.

“Waterboarding is torture,” Daniel Levin was to write. Daniel Levin was no theorist and no protester. He was no troublemaking politician. He was no table-pounding commentator. Daniel Levin was an astonishingly patriotic American and a brave man.

Keep reading . . .

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