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Friday, February 26, 2016

Do Americans Live In A False Reality Created By Orchestrated Events?


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Paul Craig Roberts
Most people who are aware and capable of thought have given up on what is called the “mainstream media.” The presstitutes have destroyed their credibility by helping Washington to lie—“Saddam Hussein’s weapons of mass destruction,” “Iranian nukes,” “Assad’s use of chemical weapons,” “Russian invasion of Ukraine,” and so forth. The “mainstream media” has also destroyed its credibility by its complete acceptance of whatever government authorities say about alleged “terrorist events,” such as 9/11 and Boston Marathon Bombing, or alleged mass shootings such as Sandy Hook and San Bernardino. Despite glaring inconsistencies, contradictions, and security failures that seem too unlikely to be believable, the “mainstream media” never asks questions or investigates. It merely reports as fact whatever authorities say. 
The sign of a totalitarian or authoritarian state is a media that feels no responsibility to investigate and to find the truth, accepting the role of propagandist instead. The entire Western media has been in the propaganda mode for a long time. In the US the transformation of journalists into propagandists was completed with the concentration of a diverse and independent media in six mega-corporations that are no longer run by journalists.
As a consequence, thoughtful and aware people increasingly rely on alternative media that does question, marshall facts, and offers analysis in place of an unbelievable official story line. 
The prime example is 9/11. Large numbers of experts have destroyed the official story that has no factual evidence in its behalf. However, even without the hard evidence that 9/11 truthers have provided, the official story gives itself away. We are supposed to believe that a few Saudi Arabians with no technology beyond box cutters and no support from any government’s intelligence service were able to outwit the massive surveillance technology created by DARPA (Defense Advanced Research Projects Agency) and NSA (National Security Agency) and deal the most humiliating blow to a superpower ever delivered in human history. Moreover, they were able to do this without the President of the United States, the US Congress, and the “mainstream media” demanding accountability for such a total failure of the high-tech national security state. Instead of a White House led investigation of such a massive security failure, the White House resisted for more than one year any investigation whatsoever until finally giving in to demands from 9/11 families that could not be bought off and agreeing to a 9/11 Commission.
The Commission did not investigate but merely sat and wrote down the story told to it by the government. Afterwards, the Commission’s chairman, co-chairman, and legal counsel wrote books in which they said that information was withheld from the Commission, that the Commission was lied to by officials of the government, and that the Commission “was set up to fail.” Despite all of this, the presstitutes still repeat the official propaganda, and there remain enough gullible Americans to prevent accountability.
Competent historians know that false flag events are used to bring to fruition agendas that cannot otherwise be achieved. 9/11 gave the neoconservatives, who controlled the George W. Bush administration, the New Pearl Harbor that they said was necessary in order to launch their hegemonic military invasions of Muslim countries. The Boston Marathon Bombing permitted a trial run of the American Police State, complete with shutting down a large American city, putting 10,000 armed troops and SWAT teams on the streets where the troops conducted house to house searches forcing the residents out of their homes at gunpoint. This unprecedented operation was justified as necessary in order to locate one wounded 19 year old man, who clearly was a patsy. 
There are so many anomalies in the Sandy Hook story that it has generated a cottage industry of skeptics. I agree that there are anomalies, but I don’t have the time to study the issue and come to my own conclusion. What I have noticed is that we are not given many good explanations of the anomalies. For example, in this video made from the TV news coverage, https://www.youtube.com/watch?v=xaHtxlSDgbk  the video’s creator makes a case that the person who is the grieving father who lost his son is the same person outfitted in SWAT clothes at Sandy Hook following the shooting. The person is identified as a known actor. Now, it seems to me that this is easy to test. The grieving father is known, the actor is known, and the authorities have to know who the SWAT team member is. If these three people, who can pass for one another, can be assembled in one room at the same time, we can dismiss the expose claimed in this one video. However, if three separate people cannot be produced together, then we must ask why this deception, which raises questions about the entire story. You can watch the entire video or just skip to the 9:30 mark and observe what appears to be the same person in two different roles.
The “mainstream media” has the ability to make these simple investigations, but does not. Instead, the “mainstream media” calls skeptics “conspiracy theorists.”
There is a book by Professor Jim Fetzer and Mike Palecek that says Sandy Hook was a FEMA drill to promote gun control and that no one died at Sandy Hook. The book was available on amazon.com but was suddenly banned. Why ban a book?
Here is a free download of the book:  http://rense.com/general96/nobodydied.html I have not read the book and have no opinion. I do know, however, that the police state that America is becoming certainly has a powerful interest in disarming the public. I also heard today a news report that people said to be parents of the dead children are bringing a lawsuit against the gun manufacturer, which is consistent with Fetzer’s claim.
Here is a Buzzsaw interview with Jim Fetzer: https://www.youtube.com/watch?v=f-W3rIEe-ag If the information Fetzer provides is correct, clearly the US government has an authoritarian agenda and is using orchestrated events to create a false reality for Americans in order to achieve the agenda. 
It seems to me that Fetzer’s facts can be easily checked. If his facts check out, then a real investigation is required. If his facts do not check out, the official story gains credibility as Fetzer is one of the most energetic skeptics. 
Fetzer cannot be dismissed as a kook. He graduated magna cum laude from Princeton University, has a Ph.D. from Indiana University and was Distinguished McKnight University Professor at the University of Minnesota until his retirement in 2006. He has had a National Science Foundation fellowship, and he has published more than 100 articles and 20 books on philosophy of science and philosophy of cognitive science. He is an expert in artificial intelligence and computer science and founded the international journal Minds and Machines. In the late 1990s, Fetzer was asked to organize a symposium on philosophy of mind. 
For an intelligent person, the official stories of President Kennedy’s assassination and 9/11 are simply not believable, because the official stories are not consistent with the evidence and what we know. Fetzer’s frustration with less capable and less observant people increasingly shows, and this works to his disadvantage. 
It seems to me that if the authorities behind the official Sandy Hook story are secure with the official story, they would jump on the opportunity to confront and disprove Fetzer’s facts. Moreover, somewhere there must be photographs of the dead children, but, like the alleged large number of recordings by security cameras of an airliner hitting the Pentagon, no one has ever seen them. At least not that I know of.
What disturbs me is that no one in authority or in the mainstream media has any interest in checking the facts. Instead, those who raise awkward matters are dismissed as conspiracy theorists. 
Why this is damning is puzzling. The government’s story of 9/11 is a story of a conspiracy as is the government’s story of the Boston Marathon Bombing. These things happen because of conspiracies. What is at issue is: whose conspiracy? We know from Operation Gladio and Operation Northwoods that governments do engage in murderous conspiracies against their own citizens. Therefore, it is a mistake to conclude that governments do not engage in conspiracies.
One often hears the objection that if 9/11 was a false flag attack, someone would have talked.
Why would they have talked? Only those who organized the conspiracy would know. Why would they undermine their own conspiracy?
Recall William Binney. He developed the surveillance system used by NSA. When he saw that it was being used against the American people, he talked. But he had taken no documents with which to prove his claims, which saved him from successful prosecution but gave him no evidence for his claims. This is why Edward Snowden took the documents and released them. Nevertheless, many see Snowden as a spy who stole national security secrets, not as a whistleblower warning us that the Constitution that protects us is being overthrown.
High level government officials have contradicted parts of the 9/11 official story and the official story that links the invasion of Iraq to 9/11 and to weapons of mass destruction. Transportation Secretary Norman Mineta contradicted Vice President Cheney and the official 9/11 story timeline. Treasury Secretary Paul O’Neill has said that overthrowing Saddam Hussein was the subject of the first cabinet meeting in the George W. Bush administration long before 9/11. He wrote it in a book and told it on CBS News’ 60 Minutes. CNN and other news stations reported it. But it had no effect.
Whistleblowers pay a high price. Many of them are in prison. Obama has prosecuted and imprisoned a record number. Once they are thrown in prison, the question becomes: “Who would believe a criminal?”
As for 9/11 all sorts of people have talked. Over 100 police, firemen and first responders have
reported hearing and experiencing a large number of explosions in the Twin Towers. Maintanence personnel report experiencing massive explosions in the sub-basements prior to the building being hit by an airplane. None of this testimony has had any effect on the authorities behind the official story or on the presstitutes.
There are 2,300 architects and engineers who have written to Congress requesting a real investigation. Instead of the request being treated with the respect that 2,300 professionals deserve, the professionals are dismissed as “conspiracy theorists.” 
An international panel of scientists have reported the presence of reacted and unreacted nanothermite in the dust of the World Trade Centers. They have offered their samples to government agencies and to scientists for confirmation. No one will touch it. The reason is clear. Today science funding is heavily dependent on the federal government and on private companies that have federal contracts. Scientists understand that speaking out about 9/11 means the termination of their career. 
The government has us where it wants us—powerless and disinformed. Most Americans are too uneducated to be able to tell the difference between a building falling down from asymetrical damage and one blowing up. Mainstream journalists cannot question and investigate and keep their jobs. Scientists cannot speak out and continue to be funded. 
Truth telling has been shoved off into the alternative Internet media where I would wager the government runs sites that proclaim wild conspiracies, the purpose of which is to discredit all skeptics.
Credit to Paul Craig Roberts



More than 130,000 migrants have 'vanished' in Germany

More than 130,00 refugees - 13 percent of the total who have arrived in Germany in the past 14 months - have vanished.

The government admitted the bizarre statistic in answer to a question posed in the Bundestag parliament on Thursday by the Left Party.

It means that they have left Germany to wander into other countries after initial registration, or they have disappeared underground.



The German government has passed a package of new and tighter laws on asylum


More than 130,00 refugees - 13 percent of the total who have arrived in Germany in the past 14 months - have vanished


They have left Germany to wander into other countries after initial registration, or they have disappeared underground

The numbers are calculated on accommodation slots across the country that were allocated and not taken up.

The head of Germany's migration office, Frank-J├╝rgen Weise, also admitted that there are currently up to 400,000 people in the country whose identities are unknown to authorities.

Germany also said it enjoys little success in sending refugees back to EU states responsible for them - the 'safe' countries they first arrived in from their homelands.

German authorities made a request to a European partner to take back refugees for one in every ten applicants. In 2014 it was one in five.


Credit to Dailymail.co.uk
Read more: http://www.dailymail.co.uk/news/article-3465171/More-130-000-migrants-vanished-Germany-13-cent-arrivals-14-months-government-reveals.html#ixzz41JZI65KZ

Plan "B" USA Ground Invasion Of Syria?






There is the possibility that American warhawks and their strange bedfellows – Saudi Arabian intelligence services – would throw a monkey wrench in Syria's ceasefire to upset the deal, Czech-based freelance journalist and analyst Martin Berger believes.

While the Syrian ceasefire agreement, brokered by Russia and the US, is regarded by many as light at the end of the tunnel, the Pentagon and CIA hawks do not seem enthusiastic about the ongoing peace effort at all.

They even went so far as to predict the failure of the ceasefire agreement before it has even come into force and call for "inflicting real pain on the Russians."

"Of course, one could only be amazed by such behavior from Washington's 'hawks' if one did not take into consideration the evidence exposing their direct involvement in the continuous aggravation of the situation in Syria, which makes them directly responsible for the deaths of thousands of civilians. Those actions would for sure present the perfect subject for a careful investigation of an international tribunal," Czech-based freelance journalist and analyst Martin Berger writes in his article for New Eastern Outlook.

Citing Daveed Gartenstein-Ross and Nathaniel Barr of the Daily Beast, the journalist points out that the Central Intelligence Agency (CIA) is now involved in assisting the terrorist organizations which Washington has been allegedly fighting against for more than decade.

"The CIA's program, launched in 2013, initially was conceived as a way of strengthening moderate rebels fighting Bashar al-Assad's regime without significantly increasing the US footprint in the conflict," the journalists wrote in their January article.

But soon things got ugly on the ground. The CIA-backed groups sided with Islamists including the notorious al-Qaeda affiliate al-Nusra Front, claiming that it was a "marriage of necessity."

"At this point it is impossible to argue that US officials involved in the CIA's program cannot discern that Nusra and other extremists have benefited. And despite this, the CIA decided to drastically increase lethal support to vetted rebel factions following the Russian intervention into Syria in late September,"Gartenstein-Ross and Barr admitted.

Furthermore, another investigation carried out by Mark Mazzetti and Matt Apuzzo for The New York Times described in detail how Washington was using Saudi money to provide jihadists in Syria with lethal weapons, Berger underscores.

However, he adds, this is just an episode in a long string of Saudi-American controversial covert operations in the Middle East, Central Asia and Africa.

In a recent interview with Sputnik, American author and historian F. William Engdahl said that an 'unholy alliance' between the CIA and Islamists was established in the early 1950s.

"In my most recent book, The Lost Hegemon: Whom the gods would destroy, I describe in great detail the perverse 'unholy alliance,' brokered by the CIA in the early 1950s to mate the Egyptian death cult known as the Muslim Brotherhood with the primitive Saudi Wahhabist branch of Islam. The consequence of that was Mujahedeen, the Chechen wars, Bosnia's Mujahedeen war against the Serbs, and now Al Qaeda-Al Nusra and Daesh," Engdahl told Sputnik.

Berger emphasizes that in light of this we may assume that US warhawks would try to dent any progress made in Syria, since they are not interested in any victory for Russia, be it diplomatic or military.

"It would be safe to assume that the CIA will be put in charge of the operation, funded with the money provided by Saudi Arabia, therefore we can await provocations and misleading articles about how it is Russia who is continuing with provocations, not these forces hidden in plain view," the Czech-based journalist stresses, adding that one should not be surprised that Washington has already come up with Plan B.

According to Berger the international community should prevent the failure of the ceasefire agreement by exposing these warhawks, namely the CIA, the Pentagon and the Saudi secret service.


Credit to Sputnik
Read more: http://sputniknews.com/politics/20160226/1035399210/why-us-hawks-islamists-bummed-out-by-syrian-ceasefire.html#ixzz41IScQ5WX

New Obamacare Mental Health Policies Can Take Your Gun and Put You In a FEMA Camp

teen screen psychiatrists are here

There is an ongoing battle for the psychological health and welfare of America’s children and eventually all Americans. Since 2002, the government has been intent on testing millions for mental illness. This obsession even extends to our veterans as they return from combat and leave the service. The veterans are increasingly being diagnosed as having PTSD and they are subsequently being adjudicated to not being eligible to own a firearm.
Marti Oakley has been at the forefront on covering elderly abuse in which the courts are stealing the property and incarcerating the elderly into mandatory detention in a care facility because they are mentally infirm. And why is this happening? If an elderly person fails to balance their checkbook, for example, they are robbed and confined by the courts.
These practices are reminiscent of how the Soviets used to imprison political enemies. The Soviets simply said if anyone disagree with the government, they must have “political schizophrenia” and required to have treatment in a mental healthcare facility.

All “Conspiracy Theorists” Are Mentally Ill According to DSM V

When I went through my clinical training, the Bible of mental illness, The Statistical and Diagnostic Manual (DSM-4r) defined Oppositional Defiant Disorder (ODD) as a highly controversial mental illness used to describe children and teens as mentally ill if they exhibited disobedience and defiance. When I was first nationally credentialed, most practitioners did not take this diagnosis seriously and we mistakenly believed that it would fade away. We uniformly believed this to be true because defiance and oppositional behaviors are hallmark traits of healthy rebellion exhibited by children and teens as they seek independence. Rather than ODD fading away, the diagnosis has become the tool of the ruling elite.
The new DSM (5) has expanded the definition of ODD to include adults who exemplify “paranoid ideation” about the government and frequently express these delusional ideations on the Internet.
In most states, the government could arrest a member of the Independent Media based upon a charge of “threat to self and others due to paranoid ideation under the new ODD. The hold of the media types would be f0r 72 hours. The “patient” would not be able to speak with family and more importantly, with an attorney. The result could be a sentence which remands one to a mental health facility where they are forcibly drugged since they are now a ward of the state. Personal assets can be seized in order to pay for “treatment”.

President Bush and the New Freedoms Commission

In April of 2002, by Executive Order, President George W. Bush convened a 22 member panel which sought to identify policies that could be implemented by all levels of government which would promote successful mental health treatment for all children and adults. Essentially this was payback to the Bush campaign contributors, such as Eli Lilly, to create more psychiatric patients which would have to medicated.
Bush’s new organization, The New Freedoms Commission (NFC) was the enforcemnt arm for mental health care treatment. All 50 states were mandated to implement compulsory mental health screening. The screening exams were to be administered in kindergarten, fourth and ninth grade. The screening program required no parental notification and carries the force of law and this program continues unabated to 2012, when public outcry and law suits effectively shut the program down.
In July of 2003, the NFC formally recommended that schools were in the best position to commence the screening of all Americans beginning with America’s students and school employees. The NFC implemented their recommendations, in November of 2004, with a $20 million dollar appropriation.

I Scream, You Scream, We All Should Have Sreamed at Teen Screen

TeenScreen, created by Laurie Flynn, arose out of the expressed desire of the NFC to test all American school children. Teen Screen lauded itself as the first line of defense to screen for suicidal behavior in teens. Under this program, teens were pulled out of class and offered movie tickets and pizza coupons if they took a computer generated, forced-response Teen Screen screening device, and they were not just looking for suicidal behavior.
The screening device had a high rate of false positives (84%). The rigor (e.g., measure of reliability and validity, utilization of genuinely representative population samples used in the norming process) of the screening mechanics have also been called into question. Additionally, TeenScreen allowed for the use of unsupervised nonprofessionals to both administer and interpret the screening instrument. Further, school-initiated treatment protocols could and would be be triggered as a result of the findings. This included forced medication without parental approval. 

In 2002, TeenScreen contracted with the public relations firm of Rabin Strategic Partners to provide each teen in the United States with easy access to this free mental health screening program. Rabin’s marketing efforts have proven to be a huge success. Rabin provided TeenScreen with a 10 year marketing strategy. The marketing plan called for an intense public relations plan including lobbying and advertising in order to expand and implement the plan. TeenScreen’s use of Rabin’s marketing strategy was paying great returns. For example, a 2004 progress report stated, mental health screening programs were eventually established in 48 states. Further the report added that a total of 19 national groups approved the screening of our youth’s mental health. Disturbingly, Rabin claims a waiting list of 250 additional Kool-Aid drinking communities which have expressed interest in the screening program.
The lobbying efforts have also paid tremendous dividends as TeenScreen eventually claims a market penetration in 45 states.
One of the questions which appeared on TeenScreen was:
1) Have you often felt nervous or uncomfortable when you have been with a group of children or young people — say, like in the lunchroom at school or a party?
Who has not felt any of these feelings? As a former nationally certified mental health practitioner and an instructor of research and statistical methods, I am left wondering if I was absent from graduate school the day that these types of feelings were declared to be representative of a mental illness or emotional disturbance? If enough yes answers are given, the child may be referred to an “expert” for treatment (i.e., medication) purposes.
With the high level of reported false positive diagnostic rates and serious questions surrounding the safety of the use of the newer psychotropic medications on developing, young brains, many children’s brains were chemically destroyed before reaching adulthood.
Eventually the outcry again Teen Screen became so intense that they closed their doors almost four years ago. However, and as we know all too well, nothing born from the globalists ever goes away, it just comes back in a different form.

The Affordable Health Care Act Replaces Teen Screen and Expands to the Mental Health Screening of All Adults

Next time you visit your doctor, be aware that your doctor is being required to assess your mental health on an informal basis. Be careful how you respond to your doctor, because you may be branded as mentally ill which could mean mandatory incarceration for “treatment” and forfeiture of assets to pay for said treatment. This is a thinly veiled version of the old Soviet Union’s “political schizophrenia”.
A panel advising the Obama administration, in partnership with Big Pharma, is in the process of requiring all doctors to screen American adults and children over age 12 to screening for alleged “mental health” disorders, especially for depression. Ultimately, anyone found to possess any type of mental disorder  will undergo state mandated “therapy” Part and parcel to this therapy comes some very  well-documented and highly dangerous side effects from the required medications which can be administered without the consent of the patient.
As it was with Teen Screen, teachers, social workers, and more are already being required to search for supposed “mental and behavioral health” issues  
Therapists are drawing upon a very new frontier in order to force people into treatment as psychiatrists invent new “illnesses such as ODD.” The ultimate goal is the mass medicating of the American people. And with a judgment of mental illness, this is Obama’s latest strategy of gun confiscation.
The controversial “recommendations” include screening all Americans between the ages of 12 and 18 for depression. A separate but related recommendation seeks to have all U.S. adults checked for “mental illness,” too. And consider that the list of “illnesses” is subjective (homosexuality was a mental disorder a few decades ago) and is constantly expanding as psychiatrists vote to create new ones, literally, as part of the Diagnostic and Statistical Manual — the “Bible” of psychiatry that has been widely criticized, even by leading psychiatrists.
This new application of mental health treatment is being done under the auspices of the  United States Preventive Services Task Force, or USPSTF. Make no mistake about it, this organization, appointed by the Obama administration’s increasingly radical and United Nations controlled Department of Health and Human Services (HHS), recommends various unconstitutional federal health policies which will result in the evisceration of civil liberties for millions of unsuspecting Americans.
The new guidelines  published in the Annals of Internal Medicine. The USPSTF recommends screening for major depressive disorder (MDD) in adolescents aged 12 to 18 years,” the HHS task force said in the summary of its position. “Screening should be implemented with adequate systems in place to ensure accurate diagnosis, effective treatment, and appropriate follow-up.” The testing is be mandated and will required with no exceptions. You don’t have to be on Obamacare. All doctors will be required to participate.
Further, the Obama HHS panel wrote. The recommendations also call for using previously proven dangerous medications such as Prozac to be administered to children between 12 and 17, while advocating powerful psychotropic substances such as Lexapro for children as young as the third grade.
“The USPSTF said it also recommends screening for depression in the general adult population, including pregnant and postpartum women.  “Screening should be implemented with adequate systems in place to ensure accurate diagnosis, effective treatment, and appropriate follow-up.”
Dr. Ron Paul has weighed in on this insanity and called the proposed mandatory screenings a “depressing thought” in his column stated. Paul stated “Basic economics, as well as the Obamacare disaster, should have shown this task force that government health insurance mandates harm Americans”. He warned that this plot would raise insurance costs, will likely result in new federal databases containing the results of the screenings,and will be used to deny even more Americans their right to keep and bear arms.  

Mental Institutions Are the New FEMA Camps

fema check inIf this were the end of the story, we would still be left with a scandal of epic proportions. However, it is far worse than you can imagine. I recently interviewed Joshua Coy, the popular talk show host of WYDE-FM, the largest radio station in Alabama. Coy has learned that the government is creating mental health facilities out of existing structures and building new facilities in remote areas such as in Northern Alabama. Here is the interview in which Coy offers these stunning revelations.

Conclusion

After seven years of dealing with the abomination in the White House, there is nothing that surprises me anymore. the plot to seize guns and incarcerate those people with political schizophrenia, is at least 14 years old. Despite overwhelming documentation, the nation is not paying attention. in the meantime, be very careful what you tell your doctor.
Credit to Common Sense Show

Scalia Died In Real Life Da Vinci Code Temple

The Truth About Popular Music

The Subprime Auto Loan Meltdown Is Here



Image result for The Subprime Auto Loan Meltdown Is Here

Uh oh – here we go again.  Do you remember the subprime mortgage meltdown during the last financial crisis?  Well, now a similar thing is happening with auto loans.  The auto industry has been doing better than many other areas of the economy in recent years, but this “mini-boom” was fueled in large part by customers with subprime credit.  According to Equifax, an astounding 23.5 percent of all new auto loans were made to subprime borrowers in 2015.  At this point, there is a total of somewhere around $200 billion in subprime auto loans floating around out there, and many of these loans have been “repackaged” and sold to investors.  I know – all of this sounds a little too close for comfort to what happened with subprime mortgages the last time around.  We never seem to learn from our mistakes, and a lot of investors are going to end up paying the price.
Everything would be fine if the number of subprime borrowers not making their payments was extremely low.  And that was true for a while, but now delinquency rates and default rates are rising to levels that we haven’t seen since the last recession.  The following comes from Time Magazine
People, especially those with shaky credit, are having a tougher time than usual making their car payments.
According to Bloomberg, almost 5% of subprime car loans that were bundled into securities and sold to investors are delinquent, and the default rate is even higher than that. (Depending on who’s counting, delinquency is up to three or four months behind in payments; default is what happens after that). At just over 12% in January, the default rate jumped one entire percentage point in just a month. Both delinquency and default rates are now the highest they’ve been since 2010, when the ripple effects of the recession still weighed heavily on many Americans’ finances.
The chart below was posted by David Stockman, and it shows how the delinquency rate for subprime borrowers has hit the highest level since 2009.  In fact, we are not too far away from totally smashing through the previous highs that were set during the last crisis…
Subprime Auto Loans
It is quite foolish to try to sell expensive cars to people with bad credit.  This is especially true now that the economy is slowing down significantly in many areas.  But people are greedy and they are going to do what they are going to do.
The most disturbing thing to me is that many of these loans are being “repackaged” and sold off to investors as “solid investments”.  The following description of what has been happening comes from Wolf Richter
The business of “repackaging” these loans, including subprime and deep-subprime loans, into asset backed securities has also been booming. These ABS are structured with different tranches, so that the highest tranches – the last ones to absorb any losses – can be stamped with high credit ratings and offloaded to bond mutual funds designed for retail investors.
Deep-subprime borrowers are high-risk. Typically they have credit scores below 550. To make it worth everyone’s while, they get stuffed into loans often with interest rates above 20%. To make payments even remotely possible at these rates, terms are often stretched to 84 months. Borrowers are typically upside down in their vehicle: the negative equity of their trade-in, along with title, taxes, and license fees, and a hefty dealer profit are rolled into the loan. When the lender repossesses the vehicle, losses add up in a hurry.
It almost makes you want to tear your hair out.
This is exactly the kind of thing that caused so much chaos with subprime mortgages.
When will we ever learn?
Meanwhile, we continue to get even more numbers that indicate that a substantial economic slowdown has already begun
We just got the clearest sign yet that something is wrong with the US economy.
Markit Economics’ monthly flash services purchasing manager’s index, a preliminary reading on the sector, fell into contraction for the first time in over two years.
The tentative February index was reported Wednesday at 49.8.
Statistic after statistic is telling us that a new recession is already here.  And of course some would argue that the last recession never actually ended.  According to John Williams of shadowstats.com, the U.S. economy has continually been in contraction mode since 2005.
If we do not learn from history, we are doomed to repeat it.  All over the world, “non-performing loans” are starting to become a major problem, and already some financial institutions are starting to get tighter with credit.
As credit conditions tighten up, this is going to cause economic activity to slow down even more.  And as economic activity slows down, it is going to become even harder for ordinary people to make their debt payments.
Deflationary forces are on the rise, and most global central banks are just about out of ammunition at this point.
Everyone knew that the global debt bubble could not keep expanding much faster than the overall rate of economic growth forever.
It was only a matter of time until the bubble burst.
Now we can see signs of crisis popping up all around us, and things are only going to get worse in the months ahead…

Credit to Economic Collapse


NATIONS CALL CITIZENS TO LEAVE LEBANON AHEAD OF MAJOR GROUND OFFENSIVE

EU Commissioner: 10 days until EU migration system breaks