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The Financial Times Tuesday,
Why I fear the west‘s luck has run out
The age of free money from mad lenders is finished. The growth game is over. Whole swathes of industry are on life support. The banks are in desperate straits. If their management cannot see that, then they are even more incompetent than they are portrayed. Indeed, too many of us still fail to see just how severe conditions are, and how horrible things are likely to get.

GlobalResearch.ca Tuesday,
Martial Law, the Financial Bailout, and War
Back in February Eliot Spitzer, in one of his last acts as governor of New York, warned about the impending crisis created by predatory lending, and reveled that the Bush Administration was blocking state efforts to deal with it. His extraordinary warning, in the Washington Post, is worth quoting at some length:

Press TV Tuesday,
Gaza and the rise of the Fourth Reich
The title of 'settlers' given to Israeli land-thieves is a very appropriate one. It is the same designation given to those in America in the 1800s who progressively murdered their way across stolen native land while claiming a manifest destiny from God in doing so. The German philosopher Hegel once said that history teaches that history teaches us nothing. While the Berlin wall has come down, Israel puts one up, and the hypocritical governments who purport to be democracies and to advocate human rights make mild and symbolic protests while allowing crimes against humanity to continue.

Wired Tuesday,
U.S. Losing 'Secret' War in Somalia
For several years the U.S. military has fought a covert war in Somalia, using gunships, drones and Special Forces to break up suspected terror networks -- and enlisting Ethiopia's aid in propping up a pro-U.S. "transitional" government. It's a relatively unknown front in the "war on terror," and one where the U.S. and its allies are losing ground, fast.

The Financial Times Tuesday,
Equilibrium oil price about $80
At just over $100/barrel reserves are massive, with shale oil alone able to meet requirements for many years.

The Financial Times Tuesday,
We are all in a great big fat Ponzi scheme together
Millions of ordinary people borrow from one provider of credit solely for the purpose of repaying another without the remotest expectation of being able to repay their latest loan until they have obtained the next.

Pravda Tuesday,
USA needs nuclear explosion to turn the world into dictatorship
Tommy Franks, the then CENTCOM commander voiced this idea in 2003. He particularly said that another event with many casualties in the USA would revive the support of wartime laws. Franks also said that such an event would mark the end of democracy in America. To put it in a nutshell, it would mark the beginning of the era of dictatorship.

Telegraph UK Tuesday,
Protectionist dominoes are beginning to tumble across the world
The riots have begun. Civil protest is breaking out in cities across Russia, China, and beyond.

The Financial Times Tuesday,
Foreign policy mandarins have more to learn
... unfortunately this message does not even now seem to have reached all parts of the newly shaping US foreign policy establishment, where the pundits keep calling for a re-assumption of American leadership and asking how the US can again impose its will and values on a turbulent world. But that is the wrong question.

The Financial Times Tuesday,
The age of obligation
Looking back, we now see just how big a proportion of US growth since 2001 was financed by mortgage equity withdrawals. Without that as a means of financing consumption, the economy would barely have grown at 1 per cent a year under President George W. Bush.