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Shaken: 10 Economic Disasters Which Threaten To Rip World Financial Markets To Shreds

2011 has already been the most memorable year in ages and we haven't even reached April yet.  Revolutions have swept the Middle East, an unprecedented earthquake and tsunami have hit Japan, civil war has erupted in Libya, the price of oil has been soaring and the entire globe is teetering on the brink of economic collapse.  It seems like almost everything that can be shaken is being shaken.  Unfortunately, it does not appear that things are going to settle down any time soon.  The Japanese economy has been dealt a critical blow, the European sovereign debt crisis could flare up again at any moment and the U.S. economy could potentially plunge into another recession by the end of the year.  The global economy and world financial markets were really struggling to recover even when things were relatively stable.  If all of this global instability gets even worse it could literally rip world financial markets apart.

Yes, things really are that bad.  The mainstream media has been really busy downplaying the economic impact of the disaster in Japan and the chaos in the Middle East, but the truth is that these events have huge implications for the global economy.  Today our world is more interconnected than ever, so economic pain in one area of the planet is going to have a significant effect on other areas of the globe.

The following are 10 economic disasters which could potentially rip world financial markets to shreds....

#1 War In Libya

Do you think that the "international community" would be intervening in Libya if they did not have a lot of oil?  If you actually believe that, you might want to review the last few decades of African history.  Millions upon millions of Africans have been slaughtered by incredibly repressive regimes and the "international community" did next to nothing about it.

But Libya is different.

Libya is the largest producer of oil in Africa.

Apparently the revolution in Libya was not going the way it was supposed to, so the U.S. and Europe are stepping in.

Moammar Gadhafi is vowing that this will be a "long war", but the truth is that his forces don't stand a chance against NATO.

Initially we were told that NATO would just be setting up a "no fly zone", but there have already been reports of Libyan tank columns being assaulted and there has even been an air strike on Moammar Gadhafi's personal compound in Tripoli.

So since when did a "no fly zone" include an attempt to kill a foreign head of state?

Let there be no mistake - the moment that the first Tomahawk cruise missiles were launched the United States declared war on Libya.

Already the Arab League, India, China and Russia have all objected to how this operation is being carried out and they are alarmed about the reports of civilian casualties.

Tensions around the globe are rising once again, and that is not a good thing for the world economy.

On a side note, does anyone recall anyone in the Obama administration even stopping for a moment to consider whether or not they should consult the U.S. Congress before starting another war?

The U.S. Constitution specifically requires the approval of the Congress before we go to war.

But very few people seem to care too much about what the U.S. Constitution says these days.

In any event, the flow of oil out of Libya is likely to be reduced for an extended period of time now, and that is not going to be good for a deeply struggling global economy.

#2 Revolutions In The Middle East

Protests just seem to keep spreading to more countries in the Middle East.  On Friday, five Syrian protesters were killed by government forces in the city of Daraa.  Subsequently, over the weekend thousands of protesters reportedly stormed government buildings in that city and set them on fire.

Things in the region just seem to get wilder and wilder.

Even in countries where the revolutions are supposed to be "over" there is still a lot of chaos.

Have you seen what has been going on in Egypt lately?

The truth is that all of North Africa and nearly the entire Middle East is aflame with revolutionary fervor.

About the only place where revolution has not broken out is in Saudi Arabia.  Of course it probably helps that the United States and Europe don't really want a revolution in Saudi Arabia and the Saudis have a brutally effective secret police force.

In any event, as long as the chaos in the Middle East continues the price of oil is likely to remain very high, and that is not good news for the world economy.

#3 The Japanese Earthquake And Tsunami

Japan is the third largest economy in the world.  When a major disaster happens in that nation it has global implications.

The tsunami that just hit Japan was absolutely unprecedented.  Vast stretches of Japan have been more thoroughly destroyed than if they had been bombed by a foreign military power.  It really was a nation changing event.

The Japanese economy is going to be crippled for an extended period of time.  But it is not just Japan's economy that has been deeply affected by this tragedy.

According to the Wall Street Journal, the recent disaster in Japan has caused supply chain disruptions all over the globe....

A shortage of Japanese-built electronic parts will force GM to close a plant in Zaragoza, Spain, on Monday and cancel shifts at a factory in Eisenach, Germany, on Monday and Tuesday, the company said Friday.

Not only that, GM has also suspended all "nonessential" spending globally as it evaluates the impact of this crisis.

The truth is that there are a whole host of industries that rely on parts from Japan.  Supply chains all over the world are going to have to be changed as a result of this crisis.  There are going to be some shortages of certain classes of products.

Japan is a nation that imports and exports tremendous quantities of goods.  At least for a while both imports and exports will be significantly down, and that is not good news for a world economy that was already having a really hard time recovering from the recent economic downturn.

#4 The Japan Nuclear Crisis

Even if the worst case scenario does not play out, the reality is that the crisis at the Fukushima Dai-ichi nuclear plant is going to have a long lasting impact on the global economy.

Already, nuclear power projects all over the world are being rethought.  The nuclear power industry was really starting to gain some momentum in many areas of the globe, but now that has totally changed.

But of much greater concern is the potential effect that all of this radiation will have on the Japanese people.  Radiation from the disaster at the Fukushima Dai-ichi nuclear plant is now showing up in food and tap water in Japan as an article on the website of USA Today recently described....

The government halted shipments of spinach from one area and raw milk from another near the nuclear plant after tests found iodine exceeded safety limits. But the contamination spread to spinach in three other prefectures and to more vegetables — canola and chrysanthemum greens. Tokyo's tap water, where iodine turned up Friday, now has cesium.

Hopefully the authorities in Japan will be able to get this situation under control before Tokyo is affected too much.  The truth is that Tokyo is one of the most economically important cities on the planet.

But right now there is a lot of uncertainty surrounding Tokyo.  For example, one very large German real estate fund says that their holdings in Tokyo are now "impossible to value" and they have suspended all customer withdrawals from the fund.

Once again, let us hope that a worst case scenario does not happen.  But if we do get to the point where most of the population had to be evacuated from Tokyo for an extended period of time it would be absolutely devastating for the global economy.

#5 The Price Of Oil

Most people believe that the U.S. dollar is the currency of the world, but really it is oil.  Without oil, the global economy that we have constructed simply could not function.

That is why it was so alarming when the price of oil went above $100 a barrel earlier this year for the first time since 2008.  Virtually everyone agrees that if the price of oil stays high for an extended period of time it will have a highly negative impact on the world economy.

In particular, the U.S. economy is highly, highly dependent on cheap oil.  This country is really spread out and we transport goods and services over vast distances.  That is why the following facts are so alarming....

*The average price of a gallon of gasoline in the United States is now 75 cents higher than it was a year ago.

*In San Francisco, California, the average price of a gallon of gasoline is now $3.97.

*According to the Oil Price Information Service, U.S. drivers spent an average of $347 on gasoline during the month of February, which was 30 percent more than a year earlier.

*According to the U.S. Energy Department, the average U.S. household will spend approximately $700 more on gasoline in 2011 than it did during 2010.

#6 Food Inflation

Many people believe that the rapidly rising price of food has been a major factor in sparking the revolutions that we have seen in Africa and the Middle East.  When people cannot feed themselves or their families they tend to lose it.

According to the United Nations, the global price of food hit a new all-time high earlier this year, and the UN is expecting the price of food to continue to go up throughout the rest of this year.  Food supplies were already tight around the globe and this is certainly not going to help things.

The price of food has also been going up rapidly inside the United States.  Last month the price of food in the United States rose at the fastest rate in 36 years.

American families are really starting to feel their budgets stretched.  According to the U.S. Labor Department, the cost of living in the United States hit a brand new all-time record high in the month of February.

What this means is that U.S. families are going to have less discretionary income to spend at the stores and that is bad news for the world economy.

#7 The European Sovereign Debt Crisis

Several European governments have had their debt downgraded in the past several months.  Portugal, Spain, Greece and Ireland are all in big time trouble.  Several other European nations are not far behind them.

Right now Germany seems content to bail the "weak sisters" in Europe out, but if that changes at some point it is going to be an absolute nightmare for world financial markets.

#8 The Dying U.S. Dollar

Right now there is a lot of anxiety about the U.S. dollar.  Prior to the tsunami, Japan was one of the primary purchasers of U.S. government debt.  In fact, Japan was the second-largest foreign buyer of U.S. Treasuries last year.

But now as Japan rebuilds from this nightmare it is not going to have capital to invest overseas.  Someone else is going to have to step in and buy up all of the debt that the Japanese were buying.

Not only that, but big bond funds such as PIMCO have announced that they are stepping away from U.S. Treasuries at least for now.

So if Japan is not buying U.S. Treasuries and bond funds such as PIMCO are not buying U.S. Treasuries, then who is going to be buying them?

The U.S. government needs to borrow trillions of dollars this year alone to roll over existing debt and to finance new debt.  All of that borrowing has got to come from somewhere.

#9 The U.S. Housing Market

The U.S. housing market could potentially be on the verge of another major crisis.  Just consider the following facts....

*In February, U.S. housing starts experienced their largest decline in 27 years.

*Deutsche Bank is projecting that 48 percent of all U.S. mortgages could have negative equity by the end of 2011.

*Two years ago, the average U.S. homeowner that was being foreclosed upon had not made a mortgage payment in 11 months.  Today, the average U.S. homeowner that is being foreclosed upon has not made a mortgage payment in 17 months.

*In September 2008, 33 percent of Americans knew someone who had been foreclosed upon or who was facing the threat of foreclosure.  Today that number has risen to 48 percent.

#10 The Derivatives Bubble

Most Americans do not even understand what derivatives are, but the truth is that they are one of the biggest threats to our financial system.  Some experts estimate that the worldwide derivatives bubble is somewhere in the neighborhood of a quadrillion dollars.  This bubble could burst at any time.  Right now we are watching the greatest financial casino in the history of the globe spin around and around and around and everyone is hoping that at some point it doesn't stop.  Today, most money on Wall Street is not made by investing in good business ideas.  Rather, most money on Wall Street is now made by making shrewd bets.  Unfortunately, at some point the casino is going to come crashing down and the game will be over.

Most people simply do not realize how fragile the global economy is at this point.

The financial crash of 2008 was a devastating blow.  The next wave of the economic crisis could be even worse.

So what will the rest of 2011 bring?

Well, nobody knows for sure, but a lot of experts are not optimistic.

David Rosenberg, the chief economist at Gluskin Sheff and Associates, is warning that the second half of the year could be very rough for the global economy....

"A sharp slowing in global GDP in the second half of the year cannot be ruled out."

Let us hope that the world economy can hold together and that we can get through the rest of 2011 okay.  The last thing we need is a repeat of 2008.  The world could use some peace and some time to recover.

But unfortunately, we live in a world that is becoming increasingly unstable.  With the way that the world has been lately, perhaps we should all just start to expect the unexpected.

But world financial markets do not respond well to instability and unpredictability.  In fact, investors tend to start fleeing to safety at the first signs of danger these days.

Most Americans simply have no idea how vulnerable the world financial system is at this point.  Nothing really got "fixed" after 2008.  If anything, global financial markets are even more fragile than they were back then.

So what do all of you think about the state of the global economy?  Please feel free to leave a comment with your opinion below....

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  • http://www.planorperish.com/ Gutter Economist

    #11 Major Earthquake to Rock California Soon?

    http://www.planorperish.com/?p=4556

  • Anonymous1

    You see Michael, the world has completely lost the true meaning of money. Thriving productive enterprises enable a healthy and successful economy, whereas in today’s world it is dominated by “financial services” — who do not even understand the true nature of money.

    The house of cards that is the global economy will come crashing down when people realize what value really means. Value does not exist outside the consciousness of mankind.

  • CountryHick

    Some more side effects from the nuclear disaster in Japan.

    Japanese nuclear fears freeze German real estate fund

    http://www.efinancialnews.com/story/2011-03-18/union-investments-nuclear-fund-suspension

    Taiwan finds radiation on imported Japanese beans

    http://news.yahoo.com/s/ap/20110320/ap_on_bi_ge/as_taiwan_japan_radiation

    End Times? Franklin Graham Say’s It Feels Like It

    http://www.allvoices.com/contributed-news/8532329-end-times-franklin-graham-says-it-feels-like-it

  • Tia

    Don’t forget the warm gulf stream is dead .. Cold water now goes up the east coast & the N Atlantic. Shorter planting season ahead?

  • Tia

    God uses the word shaken 22 times

    Heb 12:27 And this [word], Yet once more, signifieth the removing of those things that are shaken, as of things that are made, that those things which cannot be shaken may remain.

    21:26 Men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken.

    Turn TO God is the only Way out.. Nobody gets out alive!! We each must face God .. Why not do it today? Eternity is sooner than we think!!

  • michelle

    we are just getting started…

    Ice age will be here soon – food shortages will abound.

    Magnetic pole shift could kill billions.

    And send us back to the stone age.

    Hope you got hardcopies of those subsistence farming handbooks. It’s the career of the future.

  • JustanOguy

    In one post you mention how the financial markets will be ripped to shreds..

    In another post… you’ll mention how the financial markets are all a sham.

    Funny how it’s possible that a sham financial market can be ripped to shreds.

    ;)

  • Mark McBee

    let’s do a crossed post:

    the dollar will die once Japan starts selling the $700 billions of treasury papers they have to buy raw materials to rebuilt their country. the FED will print money out of thin air to buy treasury papers since Japan is no longer buy them. that will accelerate inflation. u will see commodity prices going way up.

  • ferdinand
  • Silver Bean

    The word “could” appears numerous times throughout this article. Many things could happen, but the fact is nobody knows for certain. This article, like many on this site, are worst case scenarios, with a lot of hedge words like could sprinkled throughout. Go back and read articles from late February, and early March 2008, and you will find much of the same gloom and doom written as the markets bottomed and then made a phenominal rise. Things haven’t collapsed, the sun is still rising this morning, and the birds are chirping outside. Take a breather and look around good things are still happening, and the sky has not fallen.

  • Chuzzle

    You forgot “global warming”… ;-)

  • ib12541

    There couldn’t be a more insightful article than this one. If you can’t see the signs for what they are then just quit reading and go back to sleep.

    You have so very little time to prepare. Get out of paper, have enough food and water in your house to sustain you for as long as possible, get out of debt, procure gold and silver, procure arms and ammo to protect your family and your property, get yourself in physical and spirtual shape to weather the storm that’s approaching.

    Good luck to all.

  • mik

    Things will all work out they always do. just in case buy lots of silver,gold guns and ammo.

  • Joseph Smith

    The sooner the world economy collapses, the better. The monetary system has already failed and humanity cannot live depending on paper money. This is the perfect moment to realize that patriotism and religion are things of the past. We need a resource-based economy.

  • Jason

    Get yourself a sun-oven. You’ll need to be able to boil water for purification and learn how to bake bread with all that wheat you have stored. Don’t for get to get a hand crank grain mill as well. We got a great deal at http://www.shelfreliancesanantonio.com/jmp/jmp_sunoven.php

  • James

    Apropos of #4…
    .
    .
    The Low Level Radiation Campaign. http://www.llrc.org :

    “We advise that Honshu should immediately be evacuated to the maximum possible extent. Reassurances about radiation exposures issued by the Japanese government can not be believed; they are based on the ICRP invalid risk model which ICRP itself has admitted cannot be applied in accident situations.”

    I did notice, however, all of the uplifting descriptions of frolicking wildlife in the Chernobyl fallout zone that have been appearing in the press lately…

    …they are forgetting to mention that, according to the 2009 New York Academy of Sciences report, from 1986-2005 one million people died from the fallout.

    Just imagine what a New Madrid fault quake would do. Isn’t there 15 nuclear plants down there?

  • http://www.phantomreport.com Blake Douglas

    UN/NATO/US/EU humanitarian invasion of Libya has absolutely nothing to due with protection of civilians.BS! Libya is Africa’s biggest oil producer with EU / US billions $$$ invested in oil production and exploration in Libya. Biggest holders are BP(british) ENI(Italy) MRO(US), HESS (US), Gazprom (Russian),Conoco-Phillips (US), etc. You get the point. The Middle East region is the stepping point to the next world war over oil and profits. A globalist military industrial complex war funding both sides. A false flag terrorist attack in Europe or US will give NATO full authority for the invasion of the entire Middle East.
    Major Oil Companies’ Exposure to Libya
    http://www.phantomreport.com/?p=1007

  • Antonio Gonzalez

    Buffet said Japan is good for bussines now. Then the tsunami is very
    good and need more and more for bussines.

  • David

    Let´s find out who can survive through this one! Perhaps it is time to ask ourselves what we believe! Am I a survivor? how many can really make out of this up-coming crisis? And the answer is at the heart and mind of each individual! How much faith is needed to go through this tremendous chaos? All I can say, if you have any faith, you are going to need it because what is about to come soon may challange your faith in God and the future for humanity!

  • Dave in Scenic City

    You needed to have made the connection between commodity inflation (#5 and #6) and the derivatives bubble (#10). US dollars, given freely by the Fed to the mega-banks, are a primary source of funds fueling commodity futures speculation. Futures contracts are derivatives. In other words, the Fed is using our currency to fund starvation and further economic looting.

  • Jasper

    Before it can be fixed……..right……it needs to break

  • Mario

    I still can’t believe how everybody falls apart when things go a little side ways.
    Relax people all this talk is just talk, the sun will still come up in the morning and all the complainers we still be there to complain.

    Take a break and look at the good things going on in the world and if you can’t find any then you have a serious problem.

  • Iron Nick

    Actually, Nigeria and Algeria each produce more oil than Libya.

    It is impossible to predict either tomorrows events or their outcome while the aftershocks of yesterdays events continue to shape our understanding of where we are today.

    If I were inclined to worry, I would invest in tulips and Ferangi futures.

    Peace begins when expectations end.

  • PaulF

    If you ask me what got us into this mess, it’s the mimes. Look at them, slinking around with their makeup and stupid gestures. Beat the mimes, I say!

    I’m just kidding. I have worked in the financial industry and in that most evil of enterprises – the hedge fund – for 10+ years now. Is the derivatives market a giant casino? Yes, it is. At first, I thought that traders used the word “bet” as a euphemism, but gradually I understood that the meaning in this context is as literal as it can be.

    You can bet on the price moves of an underlying equity, index, or commodity future. That’s the most basic level. But the brokers have come up with ever more complex and esoteric bets over the years. You have bonds (debt instruments) with embedded bets (call & put options) and a whole host of volatility instruments, where you are betting in some way on how volatile the prices of the underlying(s) is/are – not where they go but how much they move. For instance, will the price of an index bounce around more than the weighted prices of all its components? Put on a dispersion trade and you can turn your analysis into money. That’s the tip of the iceberg.

    Is this healthy? Probably not. Does it serve any worthwhile purpose to society, other than to make money for the gamblers and those associated with them? Probably not. Will it all “collapse” at some point? I can’t really see a reason why it should – unless the credit of the shadow banking system should freeze up again, as in ’08. But such a calamity could undo a “legitimate” financial market (based on long equity holdings only) as well.

  • Jack Nichols

    Continue to prepare. Stock up on silver coins, smokeless powder, medicine, food, water purification equipment, sugar, and other necessary commodities. The dynamics of the world is rapidly changing as you continue to point out in your blog. Soon those that have paid heed to your advice on this website, and prepared themselves accordingly will find themselves with untold riches in a collapsed world. But then isn’t life itself a struggle to survive. This world will soon be turned on its proverbial head. Thanks for sharing your economic/common sense knowledge. It will be people like you that will be the heroes in the future.

  • mondobeyondo

    Shake. Rattle. And then Roll.

    The global economy ought to be rocking and rolling pretty soon now.

  • http://www.danielrevelationbiblestudies.com Robert Stout

    Another excellent article!!! Both Daniel during King Nebuchadnezzar’s time and John while on the isle of Patmos saw the end of Earth time in history!!! We are almost there!!! Prepare spiritually my friends: Our site will give you a lot to think about and bring God’s salvation very close too you to choose!!!
    http://www.danielrevelationbiblestudies.com You will be eternally glad you did!!!

  • Gary2

    11. That we have the most unequal distribution of wealth and income ever. The richest 400 have more wealth and income than the bottom 155 million.

    12. We are literally cutting programs to help the working poor such and WIC/heating assistance,pell grants, head start, etc while at the same time giving tax cuts to millionaires and billionaires and corporations. This shows the depravity of republicans and conservative philosophy in general.

    13. Renegade right wing governors who are taking rights away under the guise of a financial crisis they themselves caused by giving the rich tax cuts and more corporate welfare.

    Other than my rip on the conservative philosophy everything I stated above are 100% facts that are true regardless of your political leaning.

  • mondobeyondo

    Yeah, why wasn’t there a UN resolution to establish a no-fly zone over Rwanda in the mid-90′s? Hutus and Tutsis massacring each other. Millions of people slaughtered in ethnic warfare, and nobody hardly lifted a finger. The U.S. government basically yawned and said, “Oh how horrible, that’s so sad”.

    Libya is a mostly desert wasteland, whose people are led by a despotic madman. A few thousand people have died. Now, make no mistake – let me be clear (copyright, Barack Obama), the loss of even one individual anywhere is tragic and sad. Rwandan, Libyan, Japanese, American, should make no difference. And yet France, the U.S. and U.K are firing the missiles and bombing the daylights out of this north African country. Oh, those poor rebel fighters. “Oh how horrible, that’s so sad. We must help them!” Ghadafi must go, they say.

    So what’s the difference? Rwanda has a great variety of wildlife, primates, plants, etc. But Rwanda doesn’t have oil.

    Libya has oil.

  • http://www.backdoorsurvival.com SurvivalWoman

    Spot on. Unless you happen to believe that the world’s financial markets are already tattered and threadbare.

    Going forward, the rich elite will probably be okay but the rest of us will need to redefine our lifestyles to coincide with less of everything: food, fuel, money.

  • LeBe

    Seems there’s a great deal of stuff happening these days in the world. I’m really sad about Japan and I hope they can recover quickly. Do you know how much the entire world, not to mention global economy, depends on Japan and products and components made exclusively in Japan. Economy is going to crash down hard and people only see advantage. They’re currently jumping on the German real estate, buying proper left and right, at real discounted prices, and I don’t blame them. They could make fortunes when and if the economy stabilizes again.
    http://stefansark.com/

  • impeachRonPaul

    The religous right wants us in need and in panic. They want us begging for help. The rich use religion as a weapon on the massses. The ignorant buy into it and those that do not are persecuted.

  • Lennie Pike

    impeachRonPaul:

    The difference between stupidity and genius is that genius has it’s limits – Albert Einstein.

    You’re too stupid to be a real person – he didn’t mean you.

  • PaulF

    impeachRonPaul is sure good for comic relief around here!

  • PaulF

    “The richest 400 have more wealth and income than the bottom 155 million.”

    That’s a great statistic. I’ve seen the same fact reported in many different forms but if that’s accurate it’s a keeper.

    This is a telling sign of the decline of our society.

    But the “right wing governors” are doing EXACTLY the right thing in stripping union thugs of their power. Public union employees make FAR more money – including benefits, especially their incredible pensions – than their private sector counterparts. Period. And the simple fact is that the taxpayers who pay for it – most of whom are in that bottom 155 million – can’t afford it anymore.

    The issue is banksters and their allies against the common man, not “left” against “right”.

  • getsmart

    Reguardless of what you seeing and hearing, if you’ve never been prepared before I think now is the time. “It’s better to have it and not need it than to need it and not have it.”

  • http://stuartdobson.net Stuart Dobson

    I love this blog but there is never any mention of Australia. We’ve had natural disasters too but the population here is living in a dream world about the economic situation – I’ve never known such naivety on a grand scale!

    Any chance you guys can knock up an article showing how Australia is not immune to the collapse?

  • PaulF

    The Aussie housing collapse is coming, for sure.

  • http://boblupoli.blogspot.com/ JOSEPH FOSTER

    By Joseph Foster
    My book, ‘’Destruction of America”, subtitled “Stand up for America” will be available September 2011 at all major bookstores. Visit MY BLOG http://boblupoli.blogspot.com/

    Will there be a no fly zone if Libya has no oil. YES.
    I believe there will be since the rebels are opposing a regime that does not want to give up power, and oppose Gadhafi that has used the oil wealth of his country for his own personal agenda, while millions of Libyans remain poor. Some believe that because Rwanda has no oil the west did not to intervene while millions were slaughtered. The conflict in Rwanda involved ethnic group Hutus and Tutsis massacring each other.
    A religious conflict occurred in Lebanon where Lebanese Muslims and Lebanese Christians created a civil war in Lebanon, the U.S. by the order of President Reagan intervened, thereafter when President Reagan realized it was a religious war he ordered U.S. troops withdrawn, the civil war lasted for 17 years and Syria intervened taking no sides in the conflict and transformed Lebanon to a police state during the conflict., finally both sides came to their senses and today both Christians and Muslims have accepted to live with each other in peace. After the civil war ended the west and the Lebanese population asked Syria to leave, they left and today there are no Syrian military presences in Lebanon.

  • Ghulam

    Religious traditions are looking smart right now. Usury was banned by almost every faith for precisely these reasons. You see, religion is the repository of the wisdom of the species for the last tens of thousands of years. We have seen empires rise and fall many times before just like this. This is not the first time that this scam has been run.

    The religion of the Jews, who in the modern world specialize in usury and whose names are all over this crisis from Ben Bernakie to Goldman Sachs, from Larry Sommers to Bernie Maddof does not allow them to practice usury among themselves. They are, in theory, only allowed to lend this way to others. Most of the individuals involved would tell you if you asked them about their faith that they are “not religious.” The Church, the ancient Hebrew laws, and all of Islam have been firmly against the practice of usury, which in the end is always a scheme, until recent centuries. Now the clergy has been bought out by industrial money, and the sects have turned the universities that they founded over to leadership that places “Enlightenment” values, ahead of religious ones.

    Incidentally, there have been no bank failures in Canada at all in recent years. All it takes is financial discipline, but rules and limits are not acceptable in the home of the free, as in Ireland and Greece. In the US they pay no attention to their Constitution at all now; Obama declared war without asking Congress, and he can kill or imprison whomever he likes without trial. Forget the economic explanations, we are talking moral free-fall here and total kleptocracy. Absolute power corrupts absolutely, and with these ethical cripples running the world, every calamity is greatly magnified and compounded.

  • http://www.pathtoasia.com rhea

    There is something wrong with a nation that cuts food for women and infants, also cuts health care for the poor and cuts free school lunch for poor kids, cuts head start etc. while at the same time giving tax cuts to millionaires and billionaires. Think about it…

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/jobs/

  • Gordon Paull

    the Canadian housing boom, particularly in Manitoba and Saskatchewan and other small pockets strikes me like the US before the phenomenal crash, although for different reasons. We in Canada, are not an island, exempt from influences from other places. We live in One World,Planet Earth. What do you think? Are we and island?

  • John G

    Funny stuff asking about why a “no fly zone” was not implemented in Rwanda when Tutsis and Hutus are so well known for their air superiority.

    Are you freakin’ retarded?

  • http://www.greenloop360.blogspot.com/ Steve

    Good article. The truth hurts and most want to bury their heads, but we are in for a rude awakening soon http://www.greenloop360.blogspot.com/

  • Ghulam

    How about a no fly zone for Gaza.

  • emet

    Robert Foster!! Based on the stale reason you have expounded for the Libyan case, why is there no fly zone in Syria now??? Have you been watching your crappy news??People are literally dropping and dieing right in our faces..
    did you ever see a video of Gaddafi killing civilians on the news??

    I am tired of all you blind simpletons. Open your eyes!!!

  • Josh

    The U.S. president is able to declare war for 60 days without congressional approval. After that, the Libyan conflict will either end, or be approved by congress, and a declaration of war be made. This rule is a result of the “Operation Rolling Thunder”, during the Vietnam war.

  • http://aszx Anisha Schweder

    Hello there, can anybody vouch for a quality caravan park to vacation at on the gold coast?

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