Incredible SCANDAL–How Bailed-Out Banks Pilfer Taxpayers’ Money

The Associated Press reported on December 21:

“Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year… The AP compiled total compensation based on annual reports that the banks file with the Securities and Exchange Commission. The 116 banks have so far received $188 billion in taxpayer help. Among the findings:

“–The average paid to each of the banks’ top executives was $2.6 million in salary, bonuses and benefits.

“–Lloyd Blankfein, president and chief executive officer of Goldman Sachs, took home nearly $54 million in compensation last year. The company’s top five executives received a total of $242 million.

“–This year, Goldman will forgo cash and stock bonuses for its seven top-paid executives. They will work for their base salaries of $600,000, the company said… It received $10 billion in taxpayer money on Oct. 28.

“– Even where banks cut back on pay, some executives were left with seven- or eight-figure compensation that most people can only dream about. Richard D. Fairbank, the chairman of Capital One Financial Corp… took a $1 million hit in compensation after his company had a disappointing year, but still got $17 million in stock options. The McLean, Va.-based company received $3.56 billion in bailout money on Nov. 14.

“–John A. Thain, chief executive officer of Merrill Lynch, topped all corporate bank bosses with $83 million in earnings last year… Like Goldman, Merrill got $10 billion from taxpayers on Oct. 28…”

Incredible SCANDAL–“Where’d the Bailout Money Go? Shhhh, It’s a Secret…”

The Associated Press reported on December 22:

“… after receiving billions in aid from U.S. taxpayers, the nation’s largest banks say they can’t track exactly how they’re spending the money or they simply refuse to discuss it. The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what’s the plan for the rest? None of the banks provided specific answers…

“There has been no accounting of how banks spend that money. Lawmakers summoned bank executives to Capitol Hill last month and implored them to lend the money… But there is no process in place to make sure that’s happening and there are no consequences for banks who don’t comply… Congress attached nearly no strings on the $700 billion bailout in October. And the Treasury Department, which doles out the money, never asked banks how it would be spent.”

Where Are Today’s Political Leaders with Convictions?

Welt On Line, a conservative German paper with friendly support of Germany’s conservative party, the CDU, published a remarkable article about former Chancellor Helmut Schmidt who is a member of the center-left SPD party. The article is especially remarkable, as it contrasts Schmidt’s strong convictions–which were and are not always popular–with the faltering temporary political “preferences” of many present-day political leaders. We are quoting the following excerpts:

“Helmut Schmidt, a chain-smoking former German chancellor, celebrates his 90th birthday on Tuesday amid an improbable revival in popularity for a prickly man with no-nonsense views that contrast sharply to many current leaders. Schmidt may not have scaled the heights of popularity while Chancellor of West Germany for eight turbulent years. ‘Schmidt is the star of German politics, its icon. No one is admired as much as he is,’ Der Spiegel wrote…

“According to a survey by the Forsa polling institute, Schmidt ranks as the ‘coolest guy in Germany’ and he tops several other polls as the country’s most popular leader… Schmidt, married to his high school sweetheart for 66 years, made his mark as a local crisis manager in 1962 Hamburg floods. That reputation he burnished as chancellor with his handling of economic crises and his mastery of a 1970s leftwing urban guerrilla campaign of bombing and assassination — a test of fire for a still relatively young German democracy…

“ZDF television commented: ‘Schmidt is a completely different leader compared to this generation that knows firm convictions today will lead to certain electoral defeat tomorrow.’

“The Sueddeutsche Zeitung newspaper marvelled at Schmidt’s popularity, saying his tenacity and crisis management makes current Chancellor Angela Merkel pale by comparison. ‘We’ve now got a chancellor whose greatest achievement is that she is Germany’s first woman chancellor,’ the paper wrote. ‘It seems this grumpy gentleman with the cane fulfills a deep yearning for strong and confident political leadership… None of today’s professional politicians accomplished anything in their lives, except perhaps graduating from university.’“

“Worst Financial Crisis Since Great Depression”

AFP reported on December 21:

“The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a ‘total’ financial meltdown unseen since the Great Depression. ‘The lack of confidence is total,’ Miguel Angel Fernandez Ordonez said…

“‘The inter-bank (lending) market is not functioning and this is generating vicious cycles: consumers are not consuming, businessmen are not taking on workers, investors are not investing and the banks are not lending. There is an almost total paralysis from which no-one is escaping,’ he said, adding that any recovery — pencilled in by optimists for the end of 2009 and the start of 2010 — could be delayed if confidence is not restored… ‘This is the worst financial crisis since the Great Depression’ of 1929, he added.”

Reuters reported on December 24 that “The United States fell deeper into recession, data showed on Wednesday, as the number of people filing for jobless benefits hit a 26-year high last week and consumers cut spending for the fifth consecutive month… Nearly 2 million U.S. workers have lost jobs this year, driving the unemployment rate to 6.7 percent…”

The article continued:

“Speaking at a news conference on Wednesday, Japanese Prime Minister Taro Aso said, ‘Japan cannot avoid the tsunami of the world recession… The world economy is in a once-in-a-hundred-years recession. We need extraordinary measures to deal with an extraordinary situation,’ he said.”

AFP added on December 24:

“Russia and China issued stark warnings on Wednesday about the impact of the crisis on their recently booming economies in 2009, with Moscow saying the downturn could spark unrest in the streets. Japan also approved a record-high budget aimed at avoiding the worst effects of the crisis and Germany prepared to pump [40] billions of euros into the economy in a new rescue plan in a holiday season marred by a slew of economic bad news…

“Economists have warned that the global downturn could mean that China will end 2008 with its weakest economic growth for nearly two decades. China has not posted annual growth of less than 7.6 percent since 1991.”

Germany–“The Calm Before the Storm”

On December 18, 2008, Der Spiegel Online wrote the following:

“As the year draws to a close, and as the world faces recession, a credit crunch and job worries, the economic outlook is the bleakest it has been in postwar history. The next year is expected be a test of strength for the German economy…
“Economists are predicting new alarming scenarios for 2009 almost every day…

“Despite the crisis, the coalition government in Berlin has not shown much leadership strength. Officially, Chancellor Angela Merkel of the conservative Christian Democrats continues to oppose additional large-scale government bailout programs. Merkel’s finance minister, Peer Steinbrück of the center-left Social Democrats, seems to prefer quarreling with the British and French who, he insists, are frittering away their money with their bailout packages. In doing so, he has also angered many…

“As Bavaria’s new governor, Seehofer is trying to demonstrate his strength in the run-up to next September’s federal election. Party politics, it seems, has distorted much of the government’s response to the crisis. In November, the chancellor warned the public to be prepared for ‘a year of bad news.’ Never in the 60-year history of the Federal Republic of Germany have citizens been this anxious as they enter a new year, plagued by worries of how much worse things can get and, most of all, how safe their jobs are…

“What is most astonishing is the incredible speed with which the crisis is spreading from one company to the next… The Americans, deeply in debt, can no longer afford products made in Germany…

“Over the course of the year, well-known German companies like retailer Hertie, watchmaker Junghans and fashion house Wehmeyer have become insolvent, and another wave of bankruptcies could follow in 2009… the government cannot set everything straight. In fact, it is probably far less capable of doing so than politicians believe.”

Germany’s Schizophrenic Role in the Iraq War

Der Spiegel Online reported on December 19:

“German lawmakers have been probing the schizophrenic role of the Schröder administration in resisting America’s invasion of Iraq. Foreign Minister Frank-Walter Steinmeier was in the hot seat this week, and German commentators don’t believe everything he’s said. The grilling received on Thursday by Frank-Walter Steinmeier, Germany’s foreign minister and a candidate for chancellor in 2009, was intense. He was answering to a parliamentary committee investigating whether German intelligence provided meaningful assistance to the US-led invasion of Iraq in 2003 [as has been claimed by former US military leaders, including Generals Tommy Franks and James Marks]. And his credibility is on the line…

“Steinmeier is under the gun because Berlin was so emphatic about being against the US-led invasion. His boss at the time, Chancellor Gerhard Schröder, ran for re-election in 2002 on an anti-war platform. Were it proven that German agents had provided valuable intelligence that helped that invasion, it would cast a shadow on those who were part of that government, including Steinmeier, who at the time was Schröder’s chief of staff, and Joschka Fischer, who was Schröder’s foreign minister. Such a revelation certainly would do nothing to help Steinmeier’s 2009 campaign for the Chancellery as the Social Democratic candidate.

“Fischer also testified on Thursday, but the media spotlight was trained firmly on Steinmeier. And he stuck to his guns, calling the comments from the US military leaders ‘outlandish’ and ‘ludicrous.’…”

But–the question is: WHOSE comments are ludicrous and outlandish?

War Against Somali Pirates

The International Herald Tribune wrote on December 23:

“Germany called Tuesday for an international court to be set up to prosecute Somali pirates who have attacked scores of vessels this year, threatening global trade in one of the world’s busiest shipping lanes… German lawmakers agreed last week to send up to 1,400 soldiers and a frigate… to the Gulf of Aden as part of the EU mission.

“Defense Minister Franz Josef Jung of Germany… said the German soldiers, who will provide protection to ships delivering food aid to Somalia would have a ‘robust’ mandate. ‘Obviously there will be combat situations,’ he said.”

In a related article, the paper stated on December 23:

“Chinese warships on a mission to protect their country’s vessels and crews from pirate attacks off Somalia will depart Friday, armed with special forces, helicopters and plans to share information with other countries working in the area.

“The operation, China’s first major naval mission abroad, will include the destroyers Haikou and Wuhan as well as a large supply ship… On board will be two helicopters and traditional weapons like missiles and cannons… China announced it was sending warships to the area after the United Nations Security Council authorized nations to conduct land and air attacks on pirate bases.”

Belgium Again In Political and MORAL Crisis

Deutsche Welle reported on December 22:

“Belgium’s King Albert II accepted Leterme’s resignation following a Belgian Supreme Court report on allegations that his aides had sought to influence a court ruling connected with the break-up of Belgian bank Fortis. The collapse of the government was the country’s third political crisis in under a year, and leaves five coalition parties to fight over who should pick up where Leterme left off.

“The political crisis leaves Belgium facing a period of deep uncertainty at the worst possible time, with the economy sliding into recession and investors’ confidence at a low as a result of the global financial crisis.”

Russia Threatens the West

Mail-on-Line reported on December 23:

“Vladimir Putin has unveiled a triple whammy of threats and provocation for Britain and the West… In moves certain to further undermine diplomatic ties with London and Washington, Mr Putin… [w]arned that Britain faced winter gas shortages if supplies from Russia were disrupted because of his bitter dispute with Ukraine; [t]hreatened to supply surface-to-air missiles to Iran, despite Western concerns over its nuclear ambitions; and [l]ined himself up to be appointed president for a third term after Moscow’s parliament rubber stamped constitutional changes overturning a law that only allowed two four-year periods as leader…

“Russia also said last night it plans a massive increase in armaments. It will spend £100billion from 2009 to 2011 on 400 new types of weapons, including 300 tanks, 14 warships and almost 50 planes… Russia will continue to rely on its huge arsenal of nuclear weapons, commissioning 70 strategic nuclear missiles over the next three years.”

Anti-Semitic Internet Statements Against Madoff and Jewish Community

AFP reported on December 19, 2008:

“Anti-Jewish commentary is flooding the Internet in the wake of Bernard Madoff’s arrest on charges of masterminding one of the biggest Wall Street frauds in history… Madoff, 70, is Jewish and a prominent member of the powerful US Jewish community. He is alleged to have defrauded investors, including a number of Jewish-related charities, of some 50 billion dollars.
 
“‘Site users have posted comments ranging from deeply offensive stereotypical statements about Jews and money — with some suggesting that only Jews could perpetrate a fraud on such a scale — to conspiracy theories about Jews stealing money to benefit Israel,’ the [Anti-Defamation League] said in a statement.”

Worldwide Internet Services Not THAT Reliable

Deutsche Welle reported on December 20:

“Internet and phone connections between Europe, the Middle East and Asia have been severely disrupted after three underwater cables were severed and it may take until Dec 31 before normal service is re-established… It is thought that 65 percent of traffic to India was down, while services to Singapore, Malaysia, Saudi Arabia, Egypt, Taiwan and Pakistan have also been severely affected…

“An afternoon toll [sic] released by France Telecom said that 100 percent of traffic was lost in the Maldives Indian Ocean islands, with the Gulf state of Qatar and Djibouti, on the Gulf of Aden, also losing over 70 percent of their traffic.

“The submarine cables are jointly owned by several dozen different countries… ‘If there was just one cable down we could have used the other two,’ said France Telecom spokesman Louis-Michel Aymard. ‘But all three are down so this puts us in a very difficult situation. This is a very rare situation,’ he said.”

The Pope Speaks Out Against Homosexual Conduct

The Herald International Tribune wrote on December 22:

“Pope Benedict said Monday that saving humanity from homosexual or transsexual behaviour was just as important as saving the rainforest from destruction…

“The Catholic Church teaches that… homosexual acts are [sinful]. It opposes gay marriage… The pope said humanity needed to ‘listen to the language of creation’ to understand the intended roles of man and woman. He compared behavior beyond traditional heterosexual relations as ‘a destruction of God’s work.’

“He also defended the Church’s right to ‘speak of human nature as man and woman, and ask that this order of creation be respected.'”

The reaction of Europe’s gay community to the Pope’s speech was predictable and swift.

Der Spiegel Online reported on December 24:

“In Germany, Volker Beck, an out gay man with the Green Party, described the pope’s statements as ‘agitating words.’ And Uta Ranke-Heinemann, a prominent German critic of the pope, described Benedict’s words as ‘a threatening message to homosexuals.’ She said his views could not be left unchallenged, adding that the history of homosexuals in Christianity has been a ‘bitter one.’

“‘As soon as the Christians came to power, they immediately sought to eradicate homosexuals,’ the theologian told SPIEGEL ONLINE. Ranke-Heinemann was the world’s first woman to be given a professorship as a Catholic theologian. For one and a half millennia, she said, Christians ‘burned homosexuals on the pope’s orders.’

“Meanwhile, Rev. Sharon Ferguson of Britain’s Lesbian and Gay Christian Movement described his statements as ‘totally irresponsible.’ The head of the Inclusive Church in England, accused the pope of ‘spreading fear that gay people somehow threaten the planet.’ That, he said, ‘is just absurd.’

“Aurelio Mancuso, the head of the Italian gay rights organization Arcigay… said he was deeply disturbed by such church-directed discrimination. ‘Last year was a bad enough year for homosexuals in Italy, and we are very concerned.’ The number of violent attacks in the country against gays and their organizations has risen dramatically in Italy in the past year. ‘All signs are pointing towards a confrontation,’ said Mancuso. ‘People are really scared.'”

Frightening Greek Christmas Myths–“Twelve Days of Christmas or Hell”?

On December 19, Der Spiegel Online reported the following:

“Who says Santa Claus is the only one trying to come down your chimney during the festive season? According to Greek mythology, a gaggle of goblin-like spirits are trying to slide into homes — and instead of presents they are intent on leaving a trail of destruction.

“As the Greeks tell it, it wouldn’t be hard to confuse the Twelve Days of Christmas with the Twelve Days of Hell. That is if you believe in the Kallikantzaroi. These mythical, goblin-like spirits are said to pop up between Christ’s birthday and Epiphany on Jan. 6, days they devote to wreaking their unique brand of havoc…

“Opinions differ on what they look like… [Some] say the Kallikantzaroi resemble humans with dark complexions, ugly, very tall beings that sport iron clogs. Others say they’re short and swarthy, with red eyes, cleft hooves, monkeys’ arms, and hair-covered bodies…

“For most of the year the Kallikantzaroi live in the bowels of the earth, but they creep out during the Twelve Days of Christmas, venturing out under the cover of night…

“In recent years, the Christmas tree has grown in popularity throughout Greece. But some Greeks prefer the old ways, opting instead for a sprig of basil suspended over a water-filled bowl. Once a day someone in the home, usually the mother of the family, uses the sprig to sprinkle water throughout the house to ward off the creatures.

“The only reliable cure-all, however, is when village priests bless the waters on the eve of Epiphany, which marks the end of the Twelve Days of Christmas. They have been known to visit homes to sprinkle holy water fragranced with sweet basil to chase away the evil spirits for another year. On the eve of Epiphany in Cyprus, villagers scatter pancakes on the roof to give the Kallikantzaroi something sweet to eat as they prepare to head out of town, perhaps to show there are no hard feelings.”

Samuele Bacchiocchi Died at Age 70

On December 21, 2008, WorldNetDaily wrote:

“Biblical scholar [and theology professor] Dr. Samuele Bacchiocchi, best known for his teachings on how Sabbath observance shifted toward Sunday worship in much of Christendom, died yesterday [Saturday, December 20] at his Michigan home at the age of 70 after a two-year battle with fourth-stage liver cancer…

“Bacchiocchi earned his doctorate in Church History at the Pontifical Gregorian University in Rome and was awarded a gold medal by Pope Paul VI for his summa cum laude class work and dissertation, ‘From Sabbath to Sunday: A Historical Investigation of the Rise of Sunday Observance in Early Christianity.’ A Seventh-Day Adventist, Bacchiocchi believed there was no Scriptural mandate to change or eliminate Sabbath-keeping, and he singled out the Catholic Church for its role in changing the day.

“‘The Church of the capital of the empire, whose authority was already felt far and wide in the second century, appears to be the most likely birthplace of Sunday observance,’ he wrote. Bacchiocchi previously told WND: ‘Anti-Judaism caused the abandonment of the Sabbath, and pagan sun worship influenced the adoption of Sunday.’… Bacchiocchi also explained the influence of pagan sun worship provides a ‘plausible explanation for the Christian choice of Sunday’ over the day of Saturn. Its effect wasn’t just limited to Sunday. It apparently led to the placement of Jesus’ birth in late December.

“‘The adoption of the 25th of December for the celebration of Christmas is perhaps the most explicit example of sun worship’s influence on the Christian liturgical calendar,’ Bacchiocchi wrote. ‘It is a known fact that the pagan feast of the Dies Natalis Solis Invicti – the birthday of the Invincible Sun, was held on that date.'”

The Demonic Origin of Christmas Traditions

As we reported in Update 371, the Austrian Krampus–the demonic “alter ego” of “St. Nicholas”–finds its counterpart in Germany in a demonic personage accompanying “St. Nicholas,” known as “Knecht Ruprecht.” He performs the same function as the Austrian Krampus, terrifying and punishing children.

But Austria and Germany are not the only European countries which manifest clear and obvious evidence of the demonic and pagan origins of our modern Christmas traditions and celebrations.

Der Spiegel Online reported on December 12, 2008, about the Italian “witch of Christmas,” as follows:

“Italy has its own Father Christmas. But it’s La Befana, the ugly, broom-flying and present-wielding witch who keeps children on their toes in many parts of the country. Like St. Nick, Befana knows who’s been naughty and nice.

“A strange post-Christmas pilgrimage takes place each year in the hills of northeastern Italy’s Le Marche, when thousands of kids flock to a small medieval town called Urbania to sit on the lap of an ugly old witch. On the eve of Jan. 6, La Befana flies down chimneys or through keyholes throughout Italy to have her say over who’s been naughty or nice…

“Like many Christian traditions, Befana has pagan roots, as a good witch who played the role of Mother Nature and was celebrated in December for providing life throughout the year.”

In addition to Italy’s “good” WITCH of Christmas, please take note of the “Black Pete” of Netherlands–another counterfeit of Krampus and Knecht Ruprecht. Der Spiegel Online wrote on December 5, 2008:

“Myths about Santa’s sinister helpers are as widespread in Europe as Grimm’s Fairy Tales. In parts of Germany, Knecht Ruprecht brings terror into the hearts of naughty children when the gift-giving season arrives. In Austria it’s Krampus, the horned devil who torments adolescents with asocial tendencies. In France, Pere Foutard does the proverbial whipping… But in no country is the tale of Santa’s diabolical sidekick as bizarre as in the Netherlands, home to Zwarte Piet (‘Black Pete’).

“The story of Black Pete is unique on the continent and it is also one of Europe’s oddest and most titilating Christmas traditions — one that tends to raise the eyebrows of foreign visitors and local immigrants. No small number of people see the yuletide character as a racist emblem of Holland’s colonial past… Many say it was Holland’s Sinterklaas who inspired America’s modern-day Santa… Unlike Santa, who lives at the North Pole, Sinterklaas resides in sunny Spain… With his gold crosier, red bishop’s dress and red mitre, he’s far more ecclesiastical looking than his portly American counterpart…

“Perpetually in tow is Sinterklaas’ slave, Black Pete. At least that’s what he was called from his 19th century origins up until the 1950s… In the new tale told to children each year, that pesky black face paint on Zwarte Piet’s face comes from soot collected as Santa’s helper wriggles down chimneys to deposit branches in the shoes of badly behaving kids or to help deliver presents from Sinterklaas for the good ones. Some whitewashers of this racist little tale also like to say he’s a chimney sweep. ‘It’s just an excuse used by people because they don’t like to be reminded of the dark nature of Black Pete’…”

However, the real origin of the “dark nature” of Black Pete has nothing to do with his color. Notice the following comments by the Wikipedia Encyclopedia, pointing at the REAL ORIGIN of the Black Peter of the Netherlands (“Schwarze Piet”):

“According to myths current before the beginning of the 19th century, Saint Nicholas (Sinterklaas) operated by himself or in the companionship of a devil… Some sources indicate that in Germanic Europe, Zwarte Piet originally was such an enslaved devil forced to assist his captor… The character is believed to have been derived from pagan traditions of evil spirits… The traditions of the Saint Nicholas feast are in part at least of medieval origin, if not much older. St. Nicholas himself, as described in the Dutch tradition shows some similarities to Wuotan/Odin, which suggests that the duo have a pre-Christian origin.”

Our free booklet, “Don’t Keep Christmas,” explains in detail the relationship between Nordic pagan gods, such as Wotan or Odin, and the modern Santa Claus.

Obama Stimulus Could Reach $1 Trillion

Reuters reported on December 13:

“President-elect Barack Obama’s team is considering a plan to boost the recession-hit U.S. economy that could be far larger than previous estimates and might reach $1 trillion over two years…

“The administration of President George W. Bush has been given authority by Congress to spend up to $700 billion in taxpayer money to rescue the nation’s banking system…”

“Most of the Largest U.S. Banks Are Totally Bankrupt”

Reuters reported on December 11:

“Jim Rogers, one of the world’s most prominent international investors, on Thursday called most of the largest U.S. banks ‘totally bankrupt,’ and said government efforts to fix the sector are wrongheaded… [He] said the government’s $700 billion rescue package for the sector doesn’t address how banks manage their balance sheets, and instead rewards weaker lenders with new capital…

“‘What is outrageous economically and is outrageous morally is that normally in times like this, people who are competent and who saw it coming and who kept their powder dry go and take over the assets from the incompetent,’ he said. ‘What’s happening this time is that the government is taking the assets from the competent people and giving them to the incompetent people and saying, now you can compete with the competent people. It is horrible economics.’…

“Many analysts cite Lehman’s Sept 15 bankruptcy as a trigger for the recent cratering in the economy and stock markets. Rogers called that idea ‘laughable’… ‘Governments are making mistakes,’ he said. ‘They’re saying to all the banks, you don’t have to tell us your situation. You can continue to use your balance sheet that is phony…. All these guys are bankrupt, they’re still worrying about their bonuses, they’re still trying to pay their dividends, and the whole system is weakened.'”

Alleged Wall Street Investment Scam Affects Banks Worldwide

AFP reported on December 15:

“Top world financial groups on Monday revealed massive potential losses from an alleged scam run by Wall Street trader Bernard Madoff, admitting they were fooled by a classic pyramid investment fraud.

“British, French, Japanese and Spanish banks and funds said investments totalling billions of dollars (euros) could be wiped off their balance sheets by a scandal that is set to affect some of the richest people in the world.

“Royal Bank of Scotland said it could lose about 400 million pounds (598 million dollars, 444 million euros), joining a growing list of banks and investors in Europe, Asia and the United States struck by the scandal…

“Madoff, a 70-year-old Wall Street veteran, was arrested last Thursday. He is alleged by US prosecutors to have confessed to defrauding investors of 50 billion dollars in a long-running scam that collapsed after clients asked for their money back as a result of the global financial crisis… US authorities allege that Madoff delivered consistently strong returns to clients by secretly using the principal investment from new investors to pay out to other investors in the scheme, a version of what is known as ‘pyramid fraud’… This fraud is also known as a ‘Ponzi scheme’…”

U.S. Housing Market–How Bad Is It Really?

USA Today reported on December 12:

“As painful as the decline has been, history suggests home values still may have a long way to drop and may take decades to return to the heights of 2½ years ago… So far, home values nationally have tumbled an average of 19% from their peak. As bad as that is, prices would need to fall at least 17% more to reach their traditional relationship to household income… In that scenario, a $300,000 house in 2006 could be worth about $200,000 when real estate prices hit bottom.

“The price plunge has wiped out trillions of dollars in home equity and caused the worst financial crisis since the Great Depression… Wachovia economist Adam York expects home values to keep falling until 2010 but is optimistic they will recover… Consider a couple with $20,000 cash. In 2006, they easily could get a 5% down mortgage to buy a $400,000 house. Today, a 10% down payment would limit the couple to a $200,000 house.”

Depression in Canada Possible

AFP reported on December 16:

“Prime Minister Stephen Harper delivered a grim forecast for the Canadian economy, saying… a depression is possible. “‘The truth is, I’ve never seen such uncertainty in terms of looking forward to the future,’ Harper told CTV. ‘I’m very worried about the Canadian economy’… Harper also said his finance minister’s budget on January 27 would include billions of dollars in stimulus spending… ‘Obviously, we’re going to have to run a deficit,’ Harper said. ‘We’re talking about spending billions of dollars that was not planned.'”

Mr. Obama’s Race–and the American Melting Pot

On December 14, The Associated Press wrote the following:

“A perplexing new chapter is unfolding in Barack Obama’s racial saga: Many people insist that ‘the first black president’ is actually not black. Debate over whether to call this son of a white Kansan and a black Kenyan biracial, African-American, mixed-race, half-and-half, multiracial — or, in Obama’s own words, a ‘mutt’ — has reached a crescendo since Obama’s election shattered assumptions about race.

“Obama has said, ‘I identify as African-American — that’s how I’m treated and that’s how I’m viewed. I’m proud of it.’ In other words, the world gave Obama no choice but to be black, and he was happy to oblige. But the world has changed since the young Obama found his place in it.

“Intermarriage and the decline of racism are dissolving ancient definitions. The candidate Obama, in achieving what many thought impossible, was treated differently from previous black generations. And many white and mixed-race people now view President-elect Obama as something other than black…

“Rebecca Walker, a 38-year-old writer with light brown skin who is of Russian, African, Irish, Scottish and Native American descent, said she used to identify herself as ‘human,’ which upset people of all backgrounds… ‘Of course Obama is black. And he’s not black, too,’ Walker said. ‘He’s white, and he’s not white, too. Obama is whatever people project onto him … he’s a lot of things, and neither of them necessarily exclude the other.’

“But U.S. Rep. G. K. Butterfield, a black man who by all appearances is white, feels differently… ‘Obama has chosen the heritage he feels comfortable with,’ he said. ‘His physical appearance is black. I don’t know how he could have chosen to be any other race. Let’s just say he decided to be white — people would have laughed at him’…

“The entire issue balances precariously on the ‘one-drop’ rule, which sprang from the slaveowner habit of dropping by the slave quarters and producing brown babies. One drop of black blood meant that person, and his or her descendants, could never be a full citizen. Today, the spectrum of skin tones among African-Americans — even those with two black parents — is evidence of widespread white ancestry. Also, since blacks were often light enough to pass for white, unknown numbers of white Americans today have blacks hidden in their family trees. One book, ‘Black People and their Place in World History,’ by Dr. Leroy Vaughn, even claims that five past presidents — Thomas Jefferson, Andrew Jackson, Abraham Lincoln, Warren Harding and Calvin Coolidge — had black ancestors, which would make Obama the sixth of his kind…

“‘We do not have our first black president,’ the author Christopher Hitchens said on the BBC program ‘Newsnight.’ ‘He is not black. He is as black as he is white’…

“Latinos, whom the census identifies as an ethnic group and not a race, were not counted separately by the government until the 1970s. After the 1990 census, many people complained that the four racial categories — white, black, Asian, and American Indian/Alaska native — did not fit them. The government then allowed people to check more than one box. (It also added a fifth category, for Hawaiian and Pacific Islanders.)

“Six million people, or 2 percent of the population, now say they belong to more than one race, according to the most recent census figures. Another 19 million people, or 6 percent of the population, identify themselves as ‘some other race’ than the five available choices.”

Arab World Hails Shoe Attack on President Bush

AFP reported on December 15:

“Iraq faced mounting calls on Monday to release the journalist who hurled his shoes at George W. Bush [during Mr. Bush’s recent visit and press conference in Iraq], an action branded shameful by the government but hailed by many in the Arab world as an ideal parting gift to the unpopular US president… Soles of shoes are considered the ultimate insult in Arab culture. After Saddam’s statue was toppled in Baghdad in April 2003, many onlookers beat the statue’s face with their soles…
 
“‘The flying shoe speaks more for Arab public opinion than all the despots/puppets that Bush meets with during his travels in the Middle East,’ said Asad Abu Khalil, a popular Lebanese-American blogger and professor at Stanislaus University in California…”

Israel Warns the World Against Iran

Haaretz.com reported on December 18:

“Defense Minister Ehud Barak warned Wednesday that if Iran acquires a nuclear weapon, it could try to attack the United States… ‘If it built even a primitive nuclear weapon like the type that destroyed Hiroshima, Iran would not hesitate to load it on a ship, arm it with a detonator operated by GPS and sail it into a vital port on the east coast of North America,’ Barak told the audience.

“Indicating the possibility of a military strike, Barak said, ‘We are not taking any option off the table, and we recommend to the world not to take any option off the table, and we mean what we say.'”

German Right-Wing Extremism on the Rise

Der Spiegel Online wrote on December 15:

“Right-wing extremism is widely perceived as a problem confined to eastern Germany. Yet Saturday’s knife attack on the police chief of Passau [Alois Mannichl] shows it is well established in Bavaria too… Mannichl is regarded as a committed enemy of the violent far-right scene…

“Bavaria’s interior minister, Joachim Herrmann, said the assault showed that far-right violence had reached a new level… ‘We must take this escalation of violence very seriously.’

“Bavaria has a well-established neo-Nazi scene. The domestic intelligence service estimates that there are around 1,100 violent neo-Nazis in Bavaria and around 10,000 in Germany. In Passau alone, the number of far-right crimes doubled to 83 this year compared with 2007.”

“Germany’s Weakest Economic Performance Since World War II”

Deutsche Welle reported on December 13:

“German Chancellor Angela Merkel and Foreign Minister Frank-Walter Steinmeier have dampened expectations of a second economic rescue package, saying there won’t be any speedy decisions…

“Meanwhile, the German newsmagazine Der Spiegel reported that government experts expect Europe’s largest economy to contract by two percent next year. This would be Germany’s weakest economic performance since World War II.”

“Germany Against the Rest of the World”

Welt On Line wrote on December 13:

“German Finance Minister Peer Steinbrueck vilifies Britain’s financial stimulus plan in an interview with American magazine Newsweek, saying that making VAT cuts won’t solve the problem, but rather will build a national debt that will take at least a generation to pay off. The problem? Everyone seems to be against Germany’s solution. German Finance Minister Peer Steinbrueck has angered some by openly criticizing European economic rescue packages. The tone seems to be getting bitter in the discussion about what is the correct reaction to the global economic downturn.

“After Britain invited French President Nicolas Sarkozy and the President of the European Commission Jose Manuel Barroso for talks ahead of the EU summit, and didn’t invite German Chancellor Angela Merkel, German Finance Minister Peer Steinbrueck hit back.

“’Are you really going to buy a DVD player because it now costs £39.10 instead of £39.90?’ he asks, taking a gibe at British Prime Minister Gordon Brown in an interview with American magazine Newsweek. Brown has cut the interest rate from 17.5 percent to 15 percent to relieve the financial burden slightly for the British population in addition to stimulating the nation’s economy. Yet, in Steinbrueck’s opinion, all Brown’s plan can achieve ‘is raise Britain’s debt to a level that will take a whole generation to work off’.

“Steinbrueck’s comments are the best proof for the differences in opinion between Germany and its partners. The French and the British want to stimulate the economy with public funds, but Germany refuses to abide. This causes irritation not only because Germany, as Europe’s leading economy, should lead the stimulus-movement, but also because the global export champion had made profits from the boom of the others.

“Paul Krugman, the recent recipient of the Nobel Prize for Economic Sciences, referred to Steinbrueck as dumb, saying that a refusal to cooperate with debt-financed stimulus packages can cause severe damage. Steinbrueck’s interview also left a sour taste in Britain, where the British Broadcasting Corporation (BBC) described it as an ‘unusual break of diplomatic customs’…”

Anglo-German Dispute Deepens

The Independent wrote on December 13:

“Britain has formally protested to the German government about the stinging attack on Gordon Brown by its Finance Minister, deepening the Anglo-German dispute over the Prime Minister’s economic strategy. Sir Michael Arthur, the British ambassador in Berlin, raised strong objections with the German Finance Ministry over the remarks by Peer Steinbrück, who branded Mr Brown’s £20bn fiscal stimulus ‘crass’ and ‘breathtaking’.

“David Miliband, the Foreign Secretary, denied knowledge of the complaint. But the British embassy in Berlin confirmed that Mr Steinbrück’s criticism was raised by Sir Michael, a clear sign that the Brown Government was rattled by the attack. A spokesman said the ambassador had made it clear that, ‘we fundamentally disagreed with the comments made by Peer Steinbrück’.

“Yesterday, the pound fell to a record low against the euro for the fifth day running, dropping to €1.1191 amid fears that the British economy would be among the hardest hit by the recession…”

Pound and Dollar Drop Further Against the Euro

The Telegraph wrote on December 15:

“Sterling slumped further this morning, leaving the currency worth just 90p against the euro for the first time since the launch of Europe’s single currency, as concern about the depth of Britain’s recession dominates foreign-exchange markets…

“Steve Barrow, currency strategist at Standard Bank said he was ‘fearful’ for the pound which he believes could fall to parity against the euro in 2009.”

The Financial Times added on December 17:

“The US currency suffered its biggest one-day slide against the euro since the birth of the single European currency in January 1999 as the euro jumped from under $1.40 to above $1.44… Following the Fed meeting on Tuesday, which reduced interest rates to a range of zero per cent to 0.25 per cent, US rates are now lower than those in Japan for the first time since 1993…”

Bloomberg elaborated on December 17:

“The world’s biggest currency-trading firms say the dollar’s appeal as a haven amid the financial crisis all but evaporated… The dollar is likely to decline ‘longer term,’ analysts including New York-based Ashraf Laidi at CMC Markets wrote in a report… The Fed’s debt purchases will cause the dollar to weaken…, analysts led by Robert Sinche, New York-based head of global currency strategy at Bank of America Corp., wrote in a report yesterday… ‘Those temporary supports for the dollar appear to have eroded,’ Sinche wrote. ‘Aggressive quantitative easing by the Fed should add to U.S. dollar supply globally and undermine the value of the dollar’…

“The dollar’s decline against the euro compares with a similar move in the early 1990s, indicating the U.S. currency may weaken to a record low… next year, Citigroup Inc. strategists Tom Fitzpatrick in New York and Shyam Devani in London wrote in a research note… The U.S. currency’s drop is becoming ‘broader-based,’ Jens Nordvig a New York-based strategist for the U.S. securities firm, wrote today. ‘Temporary dollar demand from deleveraging and funding flows has come to an end.'”

Deadly Disease Affects Great Britain

The Daily Express wrote on December 15:

“Millions face being struck down by a deadly winter vomiting bug sweeping the country. Scores of hospitals have been forced to close wards to new patients as they struggle to cope with the influx of norovirus sufferers…

“As the crisis deepens, health campaigners are warning that hospitals face going into ‘complete meltdown’ over Christmas and New Year. Last year more than three million people were struck down by the bug as it reached epidemic levels. Now experts are warning that the virus could affect even more this year.

“It appears to be taking hold much earlier than usual… At its height last year the virus, which causes projectile vomiting, diarrhoea, mild fever and headaches, was striking down more than 200,000 a week. The illness can prove deadly for the vulnerable –  children and the elderly.”

Secret Talks on New EU President and EU Foreign Affairs Minister

The Telegraph wrote on December 12:

“EU leaders have agreed a ‘path’ offering Ireland concessions ‘with a view to enabling the Treaty to enter into force by the end of 2009’. Negotiations on the EU President and Foreign Affairs posts created under the Lisbon Treaty stopped in June when the Irish [voted] ‘No’.

“… with a new Ireland deal done, diplomats have confirmed secret talks on the job description of the EU President and the size of a new European diplomatic service, will now begin – months before the Irish vote again… Candidates for the two top EU jobs will be chosen at a summit in December 2009 after intense work is carried on throughout next year…

“EU leaders will promise that under the deal, Ireland will keep a permanent European Commissioner along with legal guarantees that Brussels will not interfere with the country’s military neutrality, taxation, social and ethical issues… The second Irish referendum is expected to take place next autumn once details of opt-outs and concession are concluded in June 2009.”

The Irish Government “Betrayed” Its People

The EUObserver wrote on December 11:

“The French president yesterday told the group leaders of the European parliament that he has made a deal with the Irish government to hold a second referendum in Ireland to ratify the Lisbon treaty first rejected on 12 June by 53 percent of Irish voters. None of the representatives of the Irish people who voted No to the Lisbon Treaty were consulted by the Irish government before they struck a deal with the French Presidency. The Irish government has simply ignored the result of the referendum and betrayed those people who voted No in the majority…”

Nuclear War in the Middle East–Soon?

Haaretz.com reported on December 12:

“U.S. President-elect Barack Obama’s administration will offer Israel a ‘nuclear umbrella’ against the threat of a nuclear attack by Iran, a well-placed American source said earlier this week. The source, who is close to the new administration, said the U.S. will declare that an attack on Israel by Tehran would result in a devastating U.S. nuclear response against Iran.

“But America’s nuclear guarantee to Israel could also be interpreted as a sign the U.S. believes Iran will eventually acquire nuclear arms. Secretary of state-designate Hillary Clinton had raised the idea of a nuclear guarantee to Israel during her campaign for the Democratic Party’s nomination for the presidency…

“Granting Israel a nuclear guarantee essentially suggests the U.S. is willing to come to terms with a nuclear Iran. For its part, Israel opposes any such development… ‘What is the significance of such guarantee when it comes from those who hesitated to deal with a non-nuclear Iran?’ asked a senior Israeli security source. ‘What kind of credibility would this [guarantee have] when Iran is nuclear-capable?’

“The same source noted that the fact that there is talk about the possibility of a nuclear Iran undermines efforts to prevent Tehran from acquiring such arms. A senior Bush administration source said that the proposal for an American nuclear umbrella for Israel was ridiculous and lacked credibility. ‘Who will convince the citizen in Kansas that the U.S. needs to get mixed up in a nuclear war because Haifa was bombed? And what is the point of an American response, after Israel’s cities are destroyed in an Iranian nuclear strike?’

“The current debate is taking place in light of the Military Intelligence assessment that Iran has passed beyond the point of no return, and has mastered the technology of uranium enrichment. The decision to proceed toward the development of nuclear arms is now purely a matter for Iran’s leaders to decide.”

On October 10, 2008, the paper had speculated what Iran’s next move might be, stating:

“French agencies are divided over what Iran is likely to do once it has this uranium. One view is that the Iranians will immediately make a nuclear bomb, in order to demonstrate their capability. The other is that Iran will continue enriching uranium without making a bomb – at least until it has enough enriched uranium for several bombs.”

“Now For a World Government”

The Financial Times wrote on December 8:

“I have never believed that there is a secret United Nations plot to take over the US. I have never seen black helicopters hovering in the sky above Montana. But, for the first time in my life, I think the formation of some sort of world government is plausible. A ‘world government’ would involve much more than co-operation between nations. It would be an entity with state-like characteristics, backed by a body of laws.

“The European Union has already set up a continental government for 27 countries, which could be a model. The EU has a supreme court, a currency, thousands of pages of law, a large civil service and the ability to deploy military force. So could the European model go global? There are three reasons for thinking that it might.

“First, it is increasingly clear that the most difficult issues facing national governments are international in nature: there is global warming, a global financial crisis and a ‘global war on terror’.

“Second, it could be done… Geoffrey Blainey, an eminent Australian historian, has written: ‘For the first time in human history, world government of some sort is now possible.’ Mr Blainey foresees an attempt to form a world government at some point in the next two centuries, which is an unusually long time horizon for the average newspaper column.

“But – the third point – a change in the political atmosphere suggests that ‘global governance’ could come much sooner than that. The financial crisis and climate change are pushing national governments towards global solutions, even in countries such as China and the US that are traditionally fierce guardians of national sovereignty.

“… it seems, everything is in place. For the first time… there is an argument, an opportunity and a means to make serious steps towards a world government…”

World government, in one form or another, will come. First, man will attempt to create it (Revelation 13:3-9; 17:1-2; 18:3), but his temporary success will end in war and total disaster, as well as terrible worldwide destruction (Matthew 24:21-22). The Bible does say, however, that Jesus Christ will intervene and set up a peaceful world government which will never be destroyed–and of His government and peace there will be no end (Isaiah 9:6-7).

Growing Fault Lines Between Europe and USA

On December 9, the Asia Times Online published a highly controversial article–in fact, much of what was written must be rejected as propaganda. However, the following comments are worth quoting:

“North Atlantic Treaty Organization (NATO) ministers in Brussels have decided to ignore the wishes of the United States and delay the admission of Georgia and the Ukraine, in effect indefinitely, in what the George W Bush administration is sheepishly trying to claim is a positive ‘compromise’. The decision follows the alarm which peaked among European Union member states last August over the prospect of having to go to war with Russia…

“The decision deepens growing fault lines across the Atlantic, and next year will be clearly more turbulent even than 2008 in terms of global geopolitics. The Brussels decision is even more remarkable if taken as indication of Washington’s diminishing power over European NATO members… Washington has undergone a stunning setback in its agenda of encircling Russia with NATO. Despite the fact that president-elect Obama retained Bush Administration Defense Secretary Robert Gates, and named a person to be Secretary of State, Hillary Clinton, who has strongly supported bringing Georgia and Ukraine into NATO, key European NATO members, led by Germany and France, blocked what must be a unanimous membership decision.”

“War of Words” Between Britain and Germany

Deutsche Welle reported on December 11:

“Angela Merkel may have shrugged off the apparent snub of not being invited to Monday’s mini-summit between Britain and France but it is unlikely that new comments from the British government will be dismissed as easily.

“The simmering war of words between Berlin and Downing Street heated up Thursday as both Merkel and Prime Minister Gordon Brown prepared to fly to Brussels for a crucial EU summit.

“Responding to claims by German finance minister Peer Steinbrueck that Britain’s conversion from economic and financial prudence to heavy state borrowing was… of ‘breathtaking’ proportions, representatives of Brown’s government said that Germany’s ability to respond effectively to the global economic downturn was being hampered by domestic politics…

“Steinbrueck criticized the 2.5 percent cut in Value Added Tax (VAT), to 15 percent, introduced by the British government from December 1 in an outspoken interview with US magazine Newsweek. ‘All this will do is raise Britain’s debt to a level that will take a whole generation to work off,’ Steinbrueck said, echoing criticism leveled at Brown by the Conservative opposition in Britain…

“Speculation of a rift increased this week after Merkel — in charge of Europe’s biggest economy — was left out of the London summit on Monday involving Brown, French President Nicolas Sarkozy and European Commission chief Jose Manuel Barroso.”

Welt On Line wrote on December 11:

“German Finance Minister Peer Steinbrueck has criticised countries for rushing through what he called crass and untested economic rescue packages at a ‘breathtaking and depressing’ pace. Steinbrueck particularly singled out British Prime Minister Gordon Brown, accusing him of switching to economic policies that would saddle a generation with debt…”

Owner of Los Angeles Times and KTLA Channel 5 Files for Chapter 11 Bankruptcy

The Los Angeles Times reported on December 9:

“Tribune Co., the owner of the Los Angeles Times, KTLA Channel 5 and dozens of other daily newspapers and television stations across the country, filed Monday for bankruptcy protection from creditors, in the latest indication of deteriorating economics for the news business…

“In recent weeks, the McClatchy newspaper chain put its Miami Herald up for sale, the Christian Science Monitor said it would abandon daily print publication in favor of Web operation, the Philadelphia Inquirer and Minneapolis Star-Tribune have flirted with or entered default, and the New York Times said it would mortgage its headquarters skyscraper in midtown Manhattan to help cover operating costs.”

Politics at Its Worst

The Chicago Tribune wrote on December 9:

“Gov. Rod Blagojevich and his chief of staff, John Harris, were arrested by FBI agents [but later released on bail] on federal corruption charges Tuesday morning… In one charge related to the appointment of a senator to replace Barack Obama, prosecutors allege that Blagojevich sought appointment for himself as secretary of Health and Human Services in the new Obama administration, or a lucrative job with a union, in exchange for appointing a union-preferred candidate.

“Another charge alleges Blagojevich and Harris conspired to demand the firing of Chicago Tribune editorial board members responsible for editorials critical of him in exchange for state help with the sale of Wrigley Field, the Chicago Cubs baseball stadium owned by Tribune Co. Blagojevich and Harris, along with others, obtained and sought to gain financial benefits for the governor, members of his family and his campaign fund in exchange for appointments to state boards and commissions, state jobs and state contracts, according to the charges.

“‘The breadth of corruption laid out in these charges is staggering,’ U.S. Attorney Patrick Fitzgerald said in a statement…”

Corruption in US Politics–Nothing New

USA Today reported on December 11:

“Its largest city is legendary for machine-style politics and its elected leaders have been under investigation for years, but by one measure, Illinois is not even close to the nation’s most-corrupt state…

“On a per-capita basis… Illinois ranks 18th for the number of public corruption convictions the federal government has won from 1998 through 2007…

“Louisiana, Alaska and North Dakota all fared worse than the Land of Lincoln… The analysis does not include corruption cases handled by state law enforcement and it considers only convictions. Corruption may run more rampant in some states but go undetected…

“New York… is ranked just after Illinois for corruption convictions…”

Did Barack Obama Know?

ABC News wrote on December 9:

“‘Obviously like the rest of the people of Illinois I am saddened and sobered by the news that came out of the US attorney’s office today,’ said President-elect Obama this afternoon in Chicago, speaking of the criminal complaint against Democratic Gov. Rod Blagojevich for corruption… Asked what contact he’d had with the governor’s office about his replacement in the Senate, President-elect Obama today said ‘I had no contact with the governor or his office and so we were not, I was not aware of what was happening.’

“But on November 23, 2008, his senior adviser David Axelrod appeared on Fox News Chicago and said something quite different. While insisting that the President-elect had not expressed a favorite to replace him, and his inclination was to avoid being a ‘kingmaker,’ Axelrod said, ‘I know he’s talked to the governor and there are a whole range of names many of which have surfaced, and I think he has a fondness for a lot of them.’…

“Axelrod this evening issued a statement saying, ‘I was mistaken when I told an interviewer last month that the President-elect has spoken directly to Governor Blagojevich about the Senate vacancy. They did not then or at any time discuss the subject.’

“There are no allegations that President-elect Obama or anyone close to him had anything to do with any of the crimes Gov. Blagojevich is accused of having committed…

“But there remain questions about how Blagojevich knew that Mr. Obama was not willing to give him anything in exchange for the Senate seat — with whom was Blagojevich speaking? Did that person report the governor to the authorities? And, it should be pointed out, Mr. Obama has a relationship with Mr. Blagojevich, having not only endorsed Blagojevich in 2002 and 2006, but having served as a top adviser to the Illinois governor in his first 2002 run for the state house…”

Consequences of Political Scandal in Illinois Widen

The Los Angeles Times wrote on December 11:

“Barack Obama and federal lawmakers maneuvered Wednesday to force Illinois Gov. Rod R. Blagojevich to step down after his arrest in a payoff scandal and prevent him from naming the president-elect’s successor in the Senate… Majority Leader Harry Reid… and others said the Senate might block any Blagojevich appointee from taking office.

“A leading contender for the seat, Rep. Jesse L. Jackson Jr…. said Wednesday that he would meet with prosecutors this week to share what he knew about the case. Jackson, who denied wrongdoing, has hired a Chicago lawyer to represent him.

“The congressman… has been widely reported to be the man named in an FBI affidavit as ‘Senate Candidate 5’… In wiretapped conversations, the governor said allies of ‘Senate Candidate 5’ had promised to raise as much as $1 million for him in a ‘pay-to-play’ trade for the appointment, the FBI said…

“Obama called on state lawmakers to ‘put in place a process to select a new senator that will have the trust and confidence of the people of Illinois.’ The Legislature plans to convene Monday to pass a bill calling for a special election to fill Obama’s Senate seat. In theory, Blagojevich could veto the measure, and lawmakers could enact it through an override.”

2008 Nobel Economics Prize Recipient Predicts End of Major U.S. Auto Companies

Welt On Line reported on December 8:

“Paul Krugman, [economics professor at Princeton University and columnist for The New York Times and] winner of the 2008 Nobel economics prize, said on Sunday policy makers would be unable to prevent the global economic crisis from inflicting serious damage… ‘The simple mechanics of producing a rescue for the world economy are very hard. The pace at which things are getting worse is so great that it’s difficult to see how rescue measures can come… Even with the best of understanding it can’t come fast enough to prevent a great deal of damage… I’m very worried what next year will look like.’…

“Krugman also said he doubted the U.S. auto sector would survive in the long run…  ‘It’s…the unwillingness, I believe a correct lack of willingness, to accept the failure of a large industrial sector — even if it’s an industrial sector in decline — in the midst of a very very severe recession. In the end these companies will probably disappear.’…”

Bailouts for the Auto Industry…

Newmax wrote on December 8:

“With congressional Democrats and the Bush administration agreeing in principle during the weekend to drop a few billion on General Motors and Chrysler, all signs point to a government-backed auto industry bailout [and] an unprecedented investment in private industry…

“Ford’s chief executive Alan Mulally earned $22 million in total compensation last year – a year that helped push the company toward oblivion…  Plenty other uniquely American industries are taking it on the chin, and no one is calling for a bailout of those sectors… the high end of the bailout range keeps them [the Big Three] in business for about a year. Then what? Without major changes in their business model, they’ll simply be coming back to Washington with their hands out again.

“… this current ‘bailout’ bears no resemblance to the rescue of Chrysler in 1980. In 1980, Congress passed, and President Carter signed, a law giving a U.S. government guarantee of a private $1.5 billion loan to Chrysler. Not one dollar of taxpayer funds was ever used in the deal…”

… Maybe Not…

The Associated Press reported on December 11:

“A House-passed bill to speed $14 billion in loans to Detroit’s automakers stands on shaky ground in a bailout-weary Congress, undermined by Republican opposition that could derail the emergency aid in the Senate.

“Republicans are challenging lame-duck President George W. Bush on the proposal, arguing that any support for the domestic auto industry should carry significant concessions from autoworkers and creditors and reject tougher environmental rules imposed by House Democrats.

“The House approved the plan late Wednesday on a vote of 237-170. It would infuse money within days into cash-starved General Motors Corp. and Chrysler LLC. Ford Motor Co., which has said it has enough cash to make it through 2009, would also be eligible for federal aid.

“Supporters cited dire warnings from GM and Chrysler executives, who have said they could run out of cash within weeks, and concerns that a carmaker collapse would erase tens of thousands of jobs and jolt an already bleak economy.

“Democrats and the Bush White House hoped the Senate would vote on the legislation as early as Thursday. But based on concerns raised by GOP senators – and a still-uncertain level of support even among Democrats – they had a lot of work to do.

“A leading Senate Republican opponent said Thursday that he cannot back spending $14 billion of taxpayer money on a plan that would call for a restructuring of the industry, but which fails to detail just how that would be accomplished…

“The measure’s murky outlook reflected the difficulty of approving another federal financial rescue on the heels of the deeply unpopular, $700 billion Wall Street bailout, as the clock ticks down on the current Congress and Bush’s influence is at a low ebb… Opposition wasn’t limited to Republicans… The automakers initially asked Congress for $25 billion, then returned two weeks later to plead for as much as $34 billion…”

Grim Outlook for US Economy

The following facts, as reported in the quoted article below, should serve as a wake-up call for those who didn’t or don’t expect the U.S. economy to face tough times ahead. Even the article’s use of words such as “unexpected” or “more than expected,” in relationship to bad developments within our economy, shows how little our financial experts are in touch with reality.

The Associated Press reported on December 11:

“New claims for jobless benefits rose more than expected last week, exceeding even gloomy expectations for an economy stuck in a recession that seems to be deepening… New jobless claims last week reached their highest level since November 1982, though the labor force has grown by about half since then… Also Thursday, the U.S. trade deficit rose unexpectedly in October as a spreading global recession dampened sales of U.S. products overseas…

“In just the first two months of the budget year that started Oct. 1, the budget deficit totaled $401.6 billion, nearly matching the record gap of $455 billion posted for all of last year… Economists expect the deficit will top $1 trillion in the current budget year, which would be a post-World War II high when measured as a percentage of the economy…

“The Labor Department said last week that employers cut a net total of 533,000 jobs in November and the unemployment rate reached 6.7 percent, a 15-year high. The rate would have been higher, except that more than 400,000 Americans gave up looking for a new job and weren’t counted in the labor force.

“Companies have eliminated a net total of 1.9 million jobs this year, and some economists project the total cuts could reach 3 million by the spring of 2010.”

Bleak Outlook for World Economy

The Telegraph wrote on December 9:

“Politicians must prepare themselves for the possibility that global economic growth shrinks for the first time since the Second World War, according to the World Bank. In comments which underline the scale of the international recession, the Washington-based institution said even as things stand growth next year will be the worst since comparable records began in 1970… The warning will be seen as a final blow for those who held out hope that some countries would be insulated from the recession…

“As the recession spreads far beyond the borders of the United States, both rich and poor countries will suffer a slump of unprecedented scale, the Bank said in its latest review of the world’s economic prospects. Global trade, the real engine of wealth generation, will contract for the first time since 1982. “

Cybersecurity One of Most Urgent National Security Problems

DailyTech wrote on December 9:

“A new report issued by the Center for Strategic and International Studies urges President-elect Barack Obama to create a new White House department aimed at protecting U.S. cyber interests from hackers and other foreign agents. ‘America’s failure to protect cyberspace is one of the most urgent national security problems facing the new administration that will take office in January 2009,’ the report states.  Cyber safety is ‘a battle fought mainly in the shadows.  It is a battle we are losing’…

“‘The United States must treat cybersecurity as one of the most important national security challenges it faces,’ according to the report… the Department of Homeland Security (DHS) has not been able to properly secure U.S. government computers from cyber attacks, and should no longer have the responsibility.  DHS isn’t suited to handle technology issues, as the agency uses ‘archaic’ methods that cannot keep up with new attacks.”

President Bush Confused About the Bible

The New York Times reported on December 8:

“President George W. Bush said his belief that God created the world is not incompatible with scientific proof of evolution… ‘I think you can have both… I think that God created the earth, created the world; I think the creation of the world is so mysterious it requires something as large as an [A]lmighty and I don’t think it’s incompatible with the scientific proof that there is evolution… I happen to believe that evolution doesn’t fully explain the mystery of life.’

“Interviewer Cynthia McFadden asked Bush if the Bible was literally true… ‘Probably not. … No, I’m not a literalist, but I think you can learn a lot from it… the important lesson is “God sent a son”‘… The president also said that he prays to the same God as those with different religious beliefs.”

Tensions Are Mounting Between India and Pakistan

AFP wrote on December 9:

“Pakistan said Tuesday it would not hand over suspects in the Mumbai [formerly Bombay] terror strikes to India and warned that while it wanted peace with its neighbour, it was ready for war if New Delhi decided to attack.

“The remarks came as Indian police on Tuesday released the names of nine suspected gunmen killed in the carnage, reiterating that all of them came from Pakistan.

“Tensions have been mounting between the nuclear-armed neighbours after India said it was keeping all options open following last month’s attacks on its financial capital, where 172 people were killed and more than 300 wounded…

“Indian officials say the hardline Lashkar-e-Taiba group, which is based in Pakistan despite being banned by the government, is behind the bloodshed, and Indian media have suggested there could be Indian strikes on militant camps…

“The minister said India’s demands for the extradition of suspects in the Mumbai attacks were out of the question and that Pakistan, which has arrested 16 people since Saturday, would keep them on home soil…

“India and Pakistan have fought three wars since independence from Britain and nearly came to a fourth in 2001 after an attack on the Indian parliament that was blamed on Lashkar-e-Taiba…”

Greece’s Worst Civil Unrest in Decades

Deutsche Welle reported on December 8:

“Rioting and protests over the shooting of a teenager by police continued to spread across Greece Monday, leaving authorities frustrated by their inability to stop the country’s worst civil unrest in decades…

“Hundreds of students, armed with fire bombs and stones, clashed with police and smashed storefronts in the northern port city of Thessaloniki on Monday while gangs of youths attacked police stations and government buildings in Athens. From the northern city of Veria to the central city of Trikala, students battled riot police who retaliated by firing tear gas. On Crete, gangs of high school students threw chairs, wood and rocks at security forces…

“Confrontations between protesters and police also broke out in Berlin, London and Cyprus as youths occupied Greek diplomatic missions… University professors [in Greece] meanwhile began a three-day walkout on Monday and tens of thousands of students refused… to attend classes, in protest.”

Der Spiegel Online described the situation in Greece on December 9 as the “Nightmare before Christmas.”

It added on December 11:

“As Greece entered its sixth day of unrest sparked by the police shooting of a 15-year-old boy, violence spread to other parts of Europe on Thursday. Solidarity protests in cities including Rome, Madrid and Copenhagen turned into skirmishes between demonstrators [mainly left-wing radicals] and police.”

Will USA Invade Pakistan?

Der Spiegel Online wrote on November 29:

“Mumbai a terror zone, and India bitterly points its finger at Pakistan… Pakistan is nearly a failed state — and a US invasion under President Obama can’t be ruled out…

“The murderers expressly went after Britons, Americans and Jews… The crimes bear the clear and bloody fingerprints of militant, political Islamism… It’s obvious the terrorists follow the ideology of al-Qaida, though it’s unclear whether the head of that organization gave orders for this mission…

“For years a kind of death industry has been taking hold in Pakistan’s tribal areas. There are hundreds of Koranic schools which could better be described as cadet schools for Islamists… The idea is to condition or brainwash them. The goal is jihad…

“The Pakistani government has long ago given up control of this region… The state is as good as bankrupt. Its political leadership is either corrupt or — when it comes to the military-intelligence service complex — almost without influence. And somewhere in Pakistan, nuclear weapons are stored…

“Barack… Obama was open about bringing military intervention in the tribal areas into the discussion. Strengthening the US presence there seems, in any case, a firm part of Obama’s agenda. The planned American withdrawal from Iraq could — in a worst-case scenario — be followed by an invasion of Pakistan…”

Iran–Barack Obama’s Hornet’s Nest

The Times wrote on December 3:

“Iran poses the greatest foreign policy challenge to Barack Obama… with Tehran on course to produce a nuclear bomb in the first year of an Obama administration, a coalition of top think-tanks gave warning yesterday…

“Gary Samore, one of the authors, said that [a] ‘hornet’s nest’ [is] facing the President-elect in the Middle East… The report paints a grim picture of the problems in the region…”

Der Spiegel Online wrote on December 1:

“The world may be focused on Iraq, Afghanistan, and terror in India, but experts say the biggest foreign policy challenge for the next US president will be dealing with Iran. Obama has promised a new approach — but the risk of failure is great… Iran now has access to more than 630 kilograms of slightly enriched uranium, is building more and more centrifuges for enrichment, and is barely cooperating with inspectors. A successful nuclear test from Tehran is imaginable within a year…

“Iran has proceeded with its atomic plans so effectively that their success now seems virtually unstoppable… Even a possible first strike from Israel is now out [of] the question in the White House — although, according to Haaretz, Israel’s national security council wants to present a paper in December with plans for attacking Iran.”

Israel Prepares Strike Against Iran

The Jerusalem Post reported on December 4:

“The IDF is drawing up options for a strike on Iranian nuclear facilities that do not include coordination with the United States… While its preference is to coordinate with the US, defense officials have said Israel is preparing a wide range of options for such an operation… Israeli officials have said it would be difficult, but not impossible, to launch a strike against Iran without receiving codes from the US Air Force, which controls Iraqi airspace. Israel also asked for the codes in 1991 during the First Gulf War, but the US refused…

“Several news reports have claimed recently that US President George W. Bush has refused to give Israel a green light for an attack on Iranian facilities. One such report, published in September in Britain’s Guardian newspaper, claimed that Prime Minister Ehud Olmert requested a green light to attack Iran in May but was refused by Bush…

“On Monday, Teheran dismissed the possibility of an Israeli strike, saying it didn’t take Israel seriously.”

USA Can Expect Terrorist Attack Before 2013

The Associated Press reported on December 1:

“The United States can expect a terrorist attack using nuclear or more likely biological weapons before 2013, reports a bipartisan commission in a study… The commission believes biological weapons are more likely to be obtained and used before nuclear or radioactive weapons because nuclear facilities are more carefully guarded…

“Al-Qaida remains the only terrorist group judged to be actively intent on conducting a nuclear attack against the United States, the report notes. It is not yet capable of building such a weapon and has yet to obtain one. But that could change if a nuclear weapons engineer or scientist were recruited to al-Qaida’s cause, the report warns. The report says the potential nexus of terrorism, nuclear and biological weapons is especially acute in Pakistan.”

“Hillary Clinton–No Hope for Change in the Middle East”

Die Welt On Line reported on December 1:

“Obama’s choice of Hillary Clinton as secretary of state gladdens Israel, but does not overjoy Arabs and Iranians keen for a new start after eight years of perceived U.S. policy calamities. Clinton talked tough when running to be the Democratic presidential candidate, decrying her rival’s ‘naive’ call for direct talks with foes such as Iran and North Korea and vowing to ‘obliterate’ Iran if it attacked Israel…

“Obama and Clinton are inheriting a distinctly gloomy outlook for progress towards settling the Israeli-Palestinian conflict, and Washington’s Arab allies are not expecting a new dawn…”

President Bush’s Biggest Regret of All His Presidency

ABC News reported on December 1:

“Looking back on his eight years in the White House, President George W. Bush pinpointed incorrect intelligence that Iraqi President Saddam Hussein had weapons of mass destruction as ‘biggest regret of all the presidency. I think I was unprepared for war,’ Bush told ABC News…  Bush, who has been a stalwart defender of the war in Iraq and maintaining U.S. troop presence there, said, in retrospect, the war exceeded his expectations…

“‘A lot of people put their reputations on the line and said the weapons of mass destruction is a reason to remove Saddam Hussein,’ Bush said. ‘It wasn’t just people in my administration. A lot of members in Congress, prior to my arrival in Washington, D.C., during the debate on Iraq, a lot of leaders of nations around the world were all looking at the same intelligence…’ Bush declined to ‘speculate’ on whether he would still have gone to war if he knew Hussein didn’t have weapons of mass destruction.”

No End in Sight for Iraq War?

The New York Times wrote on December 4:

“On the campaign trail, Senator Barack Obama offered a pledge that electrified and motivated his liberal base, vowing to ‘end the war’ in Iraq. But as he moves closer to the White House, President-elect Obama is making clearer than ever that tens of thousands of American troops will be left behind in Iraq, even if he can make good on his campaign promise to pull all combat forces out within 16 months…

“To date, there has been no significant criticism from the antiwar left of the Democratic Party of the prospect that Mr. Obama will keep tens of thousands of troops in Iraq for at least several years to come.”

Will Britain Adopt the Euro?–Highly Unlikely

The Daily Mail reported on December 2:

“Lord Mandelson was at the centre of a row last night over ‘secret’ plans to ditch the pound after an explosive claim that Britain is ready to join the euro. The European Commission president… Jose Manuel Barroso said he had held private conversations with ‘the people who count in Britain’ and knew that they were ready to move into the euro-zone…

“Lord Mandelson was the loudest cheerleader for the single currency during his stints in Tony Blair’s Cabinet… But now he appears at odds with his new boss Gordon Brown. Downing Street denied there had been any policy shift and said it had ‘no plans’ to ditch the pound. Sources said the suggestion that Britain was ready to enter was ‘wishful thinking’.

“Mr Barroso’s remarks led to a backlash in Westminster. Shadow foreign secretary William Hague pledged that there were ‘no circumstances’ in which a Conservative government would propose joining the euro.”

Merkel Under Attack in the Face of Financial Turmoil

Even though Germany’s Chancellor Angela Merkel seems to have the best approach and insight into the current financial crises, she is being criticized by commentators and governmental leaders alike, as she avoids to becoming infected by the worldwide “financial bailout” disease.

Der Spiegel Online wrote on December 2:

“Media commentators are criticizing Chancellor Angela Merkel’s steadfast refusal to take more drastic action to avert recession in Germany…

“Left-wing Berliner Zeitung writes, ‘Angela Merkel is really lucky. She’s lucky that no one in her party is brave enough to run against her…’ The center-left Süddeutsche Zeitung [writes]… ‘Chancellor Merkel, in pointing to the fundamental causes behind the financial crisis, said “one can’t continually live beyond one’s means”… She said nothing in response to the proposals from French President Nicolas Sarkozy and nothing to the plans of British Prime Minister Gordon Brown…’

“The center-right Frankfurter Allgemeine Zeitung, however, offered a note of support: ‘Merkel is behaving like a doctor who knows her patient is seriously ill but doesn’t yet know what therapy will work best. So she wants to calm the patient for the time being, to see how the first weak dose of medicine will work. That’s what the rescue package agreed in October is supposed to do. It hasn’t yet taken effect. That’s why Merkel wants to wait and see how the crisis develops…

“‘The chancellor is taking a risk. She’s in danger of being perceived afterwards as someone who recognized the crisis but didn’t do enough to fight it. The voters will punish [any] hesitation at the general election next September…'”

For more information, please watch our StandingWatch program: “Insane–Bailouts Topping $8.5 Trillion.” StandingWatch Google Video YouTube.

USA in Recession Since December 2007!!!

In spite of consistent and persistent denials of the U.S. government, it was now finally openly admitted that the U.S. has been in recession for A YEAR.

CNN reported on December 1:

“The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy… The current recession is one of the longest downturns since the Great Depression of the 1930’s. The last two recessions (1990-1991 and 2001) lasted eight months each, and only two of the 10 previous post-Depression downturns lasted as long as a full year…

“In a statement, White House Deputy Press Secretary Tony Fratto said that even though the recession is now official, it is more important to focus on the steps being taken to fix the economy… Nonetheless, several economists said the real concern is that there is no end in sight for the downturn. Some suggested that the best case scenario for the economy is that it would reach bottom in the second quarter of 2009. And even if that happens, that would still make this recession the longest since the Great Depression.”

Financial Scholar Bernanke out of Touch with Reality

AFP reported on December 1 that “Federal Reserve chairman Ben Bernanke said Monday the current economic situation bears ‘no comparison’ to the much deeper crisis of the 1930s Great Depression.” However, President Bush contradicted Bernanke with statements he himself had made earlier. The news agency continued:

“‘Well, you hear a lot of loose talk, but let me just … say, as a scholar of the Great Depression… there’s no comparison,’ Bernanke said… President George W. Bush said in an interview released Monday that Bernanke and Treasury Secretary Henry Paulson warned him weeks ago that bold action was needed to avert a new Great Depression. ‘I can remember sitting in the Roosevelt Room with Hank Paulson and Ben Bernanke and others, and they said to me that if we don’t act boldly, Mr. President, we could be in a depression greater than the Great Depression,’ Bush told ABC News.”

So, no comparison, Mr. Bernanke? Get real, please!

While Home Values Decrease, Property Taxes on the Rise

USA Today reported on December 3:

“Property taxes are rising across the USA despite the steepest drop in home values since the Great Depression. Home values dropped 17% in the third quarter compared with the same period in 2007… At the same time, property tax collections across the USA rose 3.1%…  State and local governments are on track to collect more than $400 billion in property taxes this year, the most ever. One reason: Laws in most states that prevent big tax hikes when property values soar also block big tax drops when values sink…

“Most states cap how fast taxes rise in boom times. In bad times, the same laws keep taxes from falling… Arizona, California, Florida and Nevada — the four states hit hardest when overheated real estate markets crashed and triggered waves of foreclosures — all have tax laws that work this way… Most states are slow to change the assessed value of homes.”

More Governmental Attempts to Help the Housing Market?

The Financial Times wrote on December 4:

“The US Treasury is working on a new plan to help revive the ailing housing market by reducing mortgage rates on new home loans… The plan, which is at preliminary stages and could change, would involve using government-sponsored mortgage financiers Fannie Mae and Freddie Mac to push down rates on 30-year mortgages to as low as 4.5 per cent, or almost a full percentage point lower than current levels…

“But while lower mortgage rates should help to ease the rapid falls in US home prices and reduce the cost of monthly loan payments for millions of people, they may not help homeowners facing foreclosure, market participants say.”

“The Great Depression Ahead”

The Wall Street Digest wrote on December 2:

“The Next Great Depression will begin to unfold by mid-2010… Harry Dent’s latest book ‘The Great Depression Ahead’ will be released in December. Every investor should read this book for information on what to expect in the years ahead and how to survive the coming deflation. According to Dent, ‘By mid-2010 the long term baby boom trend of spending will slow down and create a greater crisis in economic growth, home values, derivatives and the banking system…’

“Any substantial recovery will be met by rising inflationary pressures, rising interest rates and mortgage rates, and rising commodity prices that will create the next bubble and crisis. Long-term interest rates–that are way below inflation rates now–will accelerate dramatically towards 7 percent plus 30-year Treasury rates and 9 percent plus 30-year fixed mortgage rates if there is a recovery… That would kill any chance of a housing recovery and put the banks and the economy back into a major crisis again…

“However, deflationary psychology is a far more difficult challenge: ‘Why purchase a home today when it will be cheaper tomorrow or next year?’ During the 2010- 2012 deflationary environment, the price of virtually everything will be declining, including stock prices, real estate, and commodities… Falling home prices continue to produce foreclosures and defaulting debt, which banks and financial institutions must write-off. Home prices peaked in June of 2005 and they are still falling. I do not see a bottom in home prices until perhaps 2013-2015… Four percent 30-year Treasuries could go to 7 percent plus by early 2010 and that means 9 percent plus 30-year mortgage rates!”

Please make sure to watch our eight-month-old StandingWatch program, “Coming–The Great Depression?”

California in DEEP Trouble

The Los Angeles Times reported on December 2:

“Gov. Arnold Schwarzenegger ordered the new Legislature in to work on its first day, declaring a fiscal emergency Monday in response to the state’s deteriorating finances… But even as Schwarzenegger warned that California could run out of cash within two months, there was little indication that the Capitol’s partisan gridlock has waned enough to allow for an easy resolution to the state’s $28-billion budget gap.

“Republican lawmakers, who last week blocked a Democratic proposal to cut billions of dollars from schools, healthcare and welfare programs while tripling the vehicle license fee, quickly reiterated their opposition to any new taxes, which both Schwarzenegger and Democrats say are indispensable. Democratic legislators again dismissed some of Schwarzenegger’s proposals to ease labor rules on business in order to boost the economy…”

Germany Prevents Georgia and Ukraine from Becoming NATO Members

On December 3, 2008, Die Welt On Line reported the following:

“Foreign ministers of NATO members meeting in Brussels Dec. 2-3 have said that Georgia and Ukraine are not yet ready for beginning the process towards membership in the Atlantic Alliance…

“Before the December meeting of NATO foreign ministers… a dispute broke out within the Alliance over the enlargement question. The United States had suggested that the MAP [Membership Action Plan] was not a necessary precondition for Georgia and Ukraine to join the organization. This was interpreted by numerous NATO states as an attempt by the United States to inappropriately accelerate the entry of both countries to the Alliance.

“Several NATO countries, including Germany, have insisted on the standard procedure. Germany has said that not going through MAP would ‘set a dangerous precedent.’ A country undergoing the MAP process must fulfil requirements in areas including human rights, democratic control of the military, and free and fair elections…

“President Mikheil Saakashvili recently said in a teleconference that Georgia would not insist on going through MAP on its path to membership. The main goal of his foreign policy, then as now, he said, was simply to join NATO as soon as possible. He regretted that ‘skeptics like Germany’ were making this more difficult, he said.”

Krampus–The Demonic Alter Ego of “St. Nicholas”

Der Spiegel Online wrote on December 2:

“In Austria, Santa keeps track of who’s been naughty and nice — and [unleashes] a 7-foot-tall horned devil on the naughty. He’s called the Krampus… he roams rural Austria clad in chains and carrying a stick, terrifying misbehaving children on Dec. 5, the night before St. Nicholas’ Day…

“Krampus is very old indeed. Some say the tradition stems back to the pre-Christian era, and that the Krampus known and feared by Austrians today is a version of an ancient god incorporated into Christian holidays. There’s no doubt that today the frightening figure is an integral part of Christmas celebrations in some parts of Austria and Hungary…”

The online edition of the magazine published numerous pictures of Krampus “impersonations” by Austrians, and the following statements were made beneath those photographs:

“Krampus comes to Austria: On Dec. 5, men dressed in frightening goat masks roam villages terrifying children and spanking girls… Begun centuries ago, Krampus is considered St. Nicholas’s alter ego. If jolly St. Nick rewards children with presents, Krampus comes to terrify them… Austria’s Christmas devil has long horns, a goat-like face and cloven hoofs.”

In Germany, the figure of Krampus finds its counterpart in “Knecht Ruprecht”–a demonic personage accompanying “St. Nicholas”. He performs the same function as the Austrian Krampus, terrifying and punishing children. For more information, please read our free booklet, “Don’t Keep Christmas.”

Will the US Fall for Russia’s Blackmail Attempts?

Deutsche Welle reported on November 24:

“Russia is prepared to make plans to deploy missiles in its Kaliningrad exclave ‘disappear’ if the US drops plans to base part of its missile defence system in Poland and the Czech Republic, Russia’s prime minister says.

“If the new administration of US president-elect Barack Obama drops deployment plans for a missile shield in what Russia considers to be within its sphere of influence, then ‘questions of our retaliatory measures will disappear by themselves,’ Russian Prime Minister Vladimir Putin told journalists at a forum in St Petersburg on Monday, Nov. 24. Putin is considered by many to have the last say on Russian foreign policy.”

The Russian Bear Is Marching Again…

AFP reported on November 24:

“Russian warships approached Venezuela Monday for upcoming joint maneuvers — Moscow’s first military presence in the region since the Cold War — as Washington closely monitored the situation. Venezuelan defense officials said the ships, including the nuclear-powered cruiser Peter the Great and destroyer Admiral Chabankenko, would arrive on Tuesday. The joint exercises were to coincide with a two-day visit by Russian President Dmitry Medvedev to Venezuela, the strongest US critic in the region. Medvedev was due to arrive Wednesday and meet fiercely anti-liberal President Hugo Chavez on Thursday, before heading to communist Cuba.

“Analysts see Medvedev as bringing a defiant message to Washington’s doorstep, in the wake of Russian outrage at US plans to install a strategic missile shield in Poland and the Czech Republic, and support for the brief Georgia war in August. The maneuvers will start on Wednesday in port and take place at sea on December 1…”

… While U.S. Influence in the Region Declines…

The Associated Press reported on November 27:

“Russian President Dmitry Medvedev agreed to help start a nuclear energy program in Venezuela and said Moscow is willing to participate in a socialist trade bloc in Latin America led by President Hugo Chavez.

“Medvedev used his visit to Venezuela—the first by a Russian president—to extend Moscow’s reach into Latin America and deepen trade and military ties. Chavez denied trying to provoke the United States, but he welcomed Russia’s growing presence in Latin America as a reflection of declining U.S. influence.”

Americans and British Targeted in India’s Terror Attack

The Los Angeles Times wrote on November 27:

“The sophistication of Wednesday’s assault in Mumbai and the targeting of U.S. and British citizens are the hallmarks of groups affiliated with Al Qaeda, but an array of other organizations have launched attacks in India and may also have played a role, officials and counter-terrorism experts said.

“Experts cautioned that it was too early to fix responsibility for the coordinated attacks that killed [hundreds] of people [and injured more than 300] at a pair of luxury hotels, two hospitals, a train station and an upscale restaurant. They said the group that claimed responsibility, the Deccan Mujahedin, was unknown…

“Instead of the bombings that are the trademark of Al Qaeda, the attackers Wednesday appeared to use mostly automatic weapons and grenades, and they reportedly took hostages. But they showed sophistication and ambition by storming five-star hotels during the peak of the tourist season in a clear attempt to target Westerners… The choice of India for such an assault could reflect the fact that increased security has made Western countries more difficult to hit, while India’s increasingly close alliance with the U.S. makes it a more desirable target… The attackers reportedly inquired specifically about the whereabouts of British and American citizens…

“Al Qaeda has urged its followers to launch attacks in India in recent years, especially as the government established closer ties with the United States. And Washington has accused some members of Pakistan’s spy agency, the Inter-Services Intelligence, of playing a role in this year’s attack on the Indian Embassy in Afghanistan, where India is increasingly active.”

US Prepared to “Lend” More Than $7.4 TRILLION

Bloomberg reported on November 24:

“The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the credit markets seized up 15 months ago. The unprecedented pledge of funds includes $2.8 trillion already tapped by financial institutions in the biggest response to an economic emergency since [President Franklin D. Roosevelt’s  New Deal of the 1930s, when almost 10,000 banks failed and there was no mechanism to bolster them with cash]…

“The worst financial crisis in two generations has erased $23 trillion, or 38 percent, of the value of the world’s companies and brought down three of the biggest Wall Street firms… The money that’s been pledged is equivalent to $24,000 for every man, woman and child in the country. It’s nine times what the U.S. has spent so far on wars in Iraq and Afghanistan…”

Citigroup “Rescue” for $326 Billion–and People Don’t Like It

AFP wrote on November 24:

“The US government vowed Monday to safeguard the ailing economy, after stepping in to guarantee over 300 billion dollars in potential losses at Citigroup and pump 20 billion more into the financial giant…

“Citigroup, which last month reported a third-quarter loss of 2.8 billion dollars its fourth straight quarter in the red, will issue seven billion dollars in preferred stock to the US Treasury and the FDIC as payment for the 306 billion dollar guarantee.”

Reuters reported on November 26:

“The bailout of Citigroup has made people in New York angrier than they were about any of the other government rescues of financial institutions this year…

“‘They were bailed out before, this is the second bailout, so what’s going on? Are they going to ask for another bailout soon?’ asked Cheril Nichols, a 50-year-old nurse from New Jersey. ‘It is wasteful, very wasteful,’ said retiree William Dwyer, 70… ‘This is not the right thing to do. They (the U.S. government) should help the people, not the big companies,’ said Renu Malconi, 38, from New Jersey… ‘It’s ridiculous. If I did as poorly as they did in my job, I would be out of the job, so why are they not accountable?’ said Mike Delibero, an IT salesman.

“The frustration on the streets of New York was echoed by two of New York’s major daily newspapers, The Wall Street Journal and The New York Post, which slammed the board of Citigroup on Tuesday with calls for all or many of its directors to quit or be removed. The Post on Wednesday ran a series of letters from readers, all of them harshly criticizing the bailout and Citigroup’s former and current executives and board members.

“High salaries, seven-figure bonuses and an agreement for the bank to pay $400 million to name the New York Mets baseball team’s new stadium Citi Field haven’t helped sentiment.”

… And Another $800 Billion for Bad Mortgage and Securities Purchases…

AFP reported on November 25:

“US authorities launched fresh efforts Tuesday to unfreeze credit and limit the economic downturn with programs to buy up to 800 billion dollars in mortgage- and asset-backed securities. The initiatives call for up to 600 billion dollars in Federal Reserve purchases of mortgage securities, and a separate 200 billion dollars for asset-backed securities to help get credit to consumers…

“The US central bank said it would launch purchases of up to 100 billion dollars of obligations of housing-related government-sponsored enterprises including Fannie Mae and Freddie Mac in the next week, and buy another 500 billion dollars in a process started by the end of this year. Separately, the Fed said it would launch a program to buy up to 200 billion dollars in asset-backed securities — backed by student loans, auto loans, credit card loans, and other loans — in a further effort to unclog frozen credit markets.”

Still Not Enough!… Recovery Package for Another $700 Billion in the Making…

The Associated Press reported on November 25:

“President-elect Barack Obama wants to project fiscal restraint even as his economic team assembles a massive recovery package… Economists from across the political spectrum… have put the size of an economic recovery package as high as $700 billion over two years… Obama is already starting in the red. The federal government reported a record deficit of $237.2 billion in October, which reflected only a portion of the $700 billion Congress approved last month to rescue the financial markets.”

Is the US Heading for Collapse?

The Drudge Report stated on November 25:

“A leading Russian political analyst has said the economic turmoil in the United States has confirmed his long-held view that the country is heading for collapse… Professor Igor Panarin said… ‘The dollar is not secured by anything. The country’s foreign debt has grown like an avalanche, even though in the early 1980s there was no debt. By 1998… it had exceeded $2 trillion. Now it is more than 11 trillion. This is a pyramid that can only collapse’…

“When asked when the U.S. economy would collapse, Panarin said: ‘It is already collapsing. Due to the financial crisis, three of the largest and oldest five banks on Wall Street have already ceased to exist, and two are barely surviving. Their losses are the biggest in history. Now what we will see is a change in the regulatory system on a global financial scale: America will no longer be the world’s financial regulator’…”

Chief Rabbis Call for Mass Prayer Because of Financial Crisis

The Jerusalem Post reported on November 25:

“The country’s chief rabbis are calling for a mass prayer rally Thursday [Thursday will be celebrated in the USA as Thanksgiving Day] in the hope that heavenly intervention will stem the global financial crisis. With Jewish philanthropists reeling and Israeli businesses preparing to make major layoffs, Chief Ashkenazi Rabbi Yona Metzger and Chief Sephardi Rabbi Shlomo Amar have decided that this Thursday, the first day of the Jewish month of Kislev, will be a special day of prayer.

“‘Education and Torah institutions are failing to make ends meet, and many are in danger of closure,’ wrote the two rabbis in a statement. ‘Factories and businesses are firing workers, and many household heads are no longer able to support their families. Therefore, we call on the public to pray one hour before mincha [the afternoon prayer] on Thursday in synagogues across the nation.’

“Religious institutions have been among the hardest hit by the economic downturn. Many are totally dependent on foreign donations. In recent weeks, the heads of some of the largest kollels have complained that they have returned empty-handed from fundraising campaigns in the US and Europe, saying philanthropists hurt by the financial crisis are no longer willing to make contributions.”

Grim Economic Outlook for Europe in 2009

Deutsche Welle reported on November 23:

“German Chancellor Angela Merkel has warned of a grim 2009 economic outlook as Europe’s largest economy slips into recession. Merkel said in the Welt am Sonntag newspaper that her grand coalition government was divided over the right medicine for the country.

“Merkel rejected calls by business leaders to slash taxes, saying they would remain off the table until after the September 2009 general election. But Merkel’s economics minister, Michael Glos, said a stimulus package put together earlier this month was only the beginning, if Germany wished to protect itself against global financial turmoil.”

“Merkel Criticises US Over Crisis”

The Financial Times wrote on November 26:

“Angela Merkel, the German chancellor, turned the tables on her international critics on Wednesday by accusing the US and other governments of making ‘cheap money’ a central tool of their economic management, thus planting the seeds of a similar crisis in five years.

“’Excessively cheap money in the US was a driver of today’s crisis,’ she told the German parliament. ‘I am deeply concerned about whether we are now reinforcing this trend through measures being adopted in the US and elsewhere and whether we could find ourselves in five years facing the exact same crisis.’

“There have been calls from outside Germany for it to beef up fiscal support, but Ms Merkel has been wary of raising public borrowing to stimulate demand, fearing that the extra income could boost Germans’ savings rate, which is already high.”

“As Financial Crisis Grows, EU Emerges Stronger”

Der Spiegel Online wrote on November 27:

“The global financial crisis creates new losers each day. So far, though, the EU is looking like a winner. For many countries along the continent’s northern edge, euro-skepticism is a luxury they can no longer afford. Will 2008 be remembered as the year that killed the euro-skeptics?…  Now, from Iceland to the Czech Republic, previously wary populations are warming to the EU, heaping praise on the very Brussels-based behemoth they had spent so many years deriding…

“The most obvious way the financial crisis has strengthened the image of the EU among the less-than-faithful is by making the euro look like a safehaven. Denmark, one of the few countries that deliberately opted out of the euro, may now be regretting its decision…

“Of all the countries on Europe’s periphery, perhaps none has experienced as pronounced a shift in EU sentiment as Iceland, a nation which, not coincidentally, also serves as Ground Zero for the financial crisis. Since January, Iceland’s currency has lost nearly half its value against the euro, plunging the country’s economy into chaos… the surge in EU support suggests that Icelanders have lost faith in their own government…

“By rejecting the Lisbon treaty in a referendum in June, the people of Ireland brought the EU to its knees. Now, after a bruising ride on the financial crisis roller coaster, they might be the ones that get the EU back on its feet…

“The EU might not be out of the woods yet, but it is in a considerably stronger position heading into 2009 than many feared would be the case six months ago… Europe’s dream of ever-closer union might be happen sooner than we think.”

“Is Britain Going Bankrupt?”

The British paper, The Telegraph, wrote on November 24:

“There is now a palpable fear that global investors may start to shun British debt as the budget deficit rockets to £118bn… The cost of insuring against the bankruptcy of the British state has broken out – upwards – over the last month…

“Alistair Darling has had to admit that the British economy faces the most sudden economic collapse since World War Two, and the worst budget deficit of any major country in the world… Should we be worried? Yes… Britain will have to borrow £450bn over the next five years. This is an utter fiasco…”

How Much Longer Will Britain Stay in the EU?

On November 20, The Daily Mail reported the following:

“The European Union is costing Britain a staggering £106,000 a minute, a think-tank has revealed. As the UK teeters on the brink of what experts predict will be the most serious financial crisis since the Great Depression, the Government has surrendered £55.8 billion to Brussels this year. That is equivalent to paying a whopping £900 for every man, woman and child in the country.”

Controversial Leader Next European President

The New York Times wrote on November 25:

“Mr. Klaus, the 67-year-old president of the Czech Republic… blamed what he calls the misguided fight against global warming for contributing to the international financial crisis, branded Al Gore an ‘apostle of arrogance’ for his role in that fight, and accused the European Union of acting like a Communist state. Now the Czech Republic is about to assume the rotating presidency of the European Union…

“To supporters, Mr. Klaus is a brave, lone crusader, a defender of liberty, the only European leader in the mold of the formidable Margaret Thatcher… To his many critics, he is a cynical populist, a hardheaded pragmatist… As a former finance minister and prime minister, he is credited with presiding over the peaceful 1993 split of Czechoslovakia into two states and helping to transform the Czech Republic into one of the former Soviet bloc’s most successful economies…

“While even many of the world’s most ardent free marketeers acknowledged the need for the recent coordinated bailout of European banks, Mr. Klaus lambasted it as irresponsible protectionism… A fervent critic of the environmental movement, he has called global warming a dangerous ‘myth’… he is a vocal opponent of the Lisbon Treaty, which aims to help Europe become more of an international player, but which he argues will strip countries of sovereignty…

“And while other European leaders have criticized a newly assertive Russia, Mr. Klaus has forged close ties with Prime Minister Vladimir V. Putin and recently distanced himself from the Czech government’s criticism of Russia over the war with Georgia in August.”

Major Earthquake Expected in Southern and Midwestern US

Reuters reported on November 20:

“People in a vast seismic zone in the southern and midwestern United States would face catastrophic damage if a major earthquake struck there… The Federal Emergency Management Agency (FEMA)… predicted a large earthquake would cause ‘widespread and catastrophic physical damage’ across Alabama, Arkansas, Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee — home to some 44 million people. Tennessee is likely to be hardest hit… In Tennessee alone, it forecast hundreds of collapsed bridges, tens of thousands of severely damaged buildings and a half a million households without water…

“The zone, named for the town of New Madrid in Missouri’s southeast corner, is subject to frequent mild earthquakes. Experts have long tried to predict the likelihood of a major quake like those that struck in 1811 and 1812. These shifted the course of the Mississippi River and rang church bells on the East Coast but caused few deaths amid a sparse population. ‘People who live in these areas and the people who build in these areas certainly need to take into better account that at some time there is … expected to be a catastrophic earthquake in that area, and they’d better be prepared for it,’ said FEMA spokesperson Mary Margaret Walker.”

The Commercialism of Christmas

The Daily Mail wrote on November 24:

“Now the Church of England has joined the chorus of those who want to revolutionise Christmas with a call for people to send fewer cards… [It] launched a campaign for people to celebrate the season this year by cutting up their credit cards…

“Archbishop of Canterbury Dr Rowan Williams is among the leading clerics who – while they are strongly in favour of preserving the importance of Christmas as a Christian festival – are deeply anxious at the commercialism and high spending that goes with the holiday…

“In a new book, Do Nothing: Christmas is Coming, Dr Cottrell said: ‘It might be the season of goodwill, but it feels like the last straw on an already over-burdened camel’… The bishop also suggested that families should give up the ‘monstrous burden’ of giving presents they cannot afford.”

Reuters reported on November 24:

“Germans are trying to shut out the financial crisis by taking comfort in traditional festivities, and there is an acute shortage of Santas to entertain children at shopping centers, Christmas markets and private parties.

“‘Being Santa is not an easy job,’ Jens Wittenberger, in charge of Santa Claus recruitment at the Jobcafe Munich, told Reuters Monday. ‘To be honest, not many people have what it takes to be a good Father Christmas… You can’t have your Santa drive up in a car,’ said Wittenberger. ‘Every child knows that Santa travels in a sleigh pulled by reindeer so we don’t want to disappoint anybody.’ Santas are told to park their car a few streets away and walk… ‘Santas can make up to 60 euros ($75) an hour,’ he said.”

Yoga Blasphemous?

Die Welt Online reported on November 22:

“A top Islamic council in mostly Muslim Malaysia told Muslims on Saturday to avoid yoga because it uses Hindu prayers and encourages a union with God that is blasphemous. ‘There are other ways to get exercise and a peace of mind,’ council chairman Abdul Shukor Husin told reporters… ‘You can go cycling, swimming and eat less fatty food.’

“‘For us, yoga can destroy a Muslim’s faith. But this is not a matter for the non-Muslims to be concerned about because it’s not imposed on them. We are looking out for the Muslim community,’ he said, noting Egypt and Singapore had issued similar rulings.”

Increased Belief in Paranormal Concepts

LifeScience.com reported on November 24:

“More people believe in aliens and ghosts than in God, a new survey finds, according to a British newspaper. The survey, however, was done by a marketing firm in conjunction with the release of an X-Files DVD, and details of how the poll was conducted were not reported in the Daily Mail. Survey questions, depending on how they are written, can greatly skew results, along with how subjects are sampled.

“That said, the poll of 3,000 people found that 58 percent believe in the supernatural, including paranormal encounters, while 54 percent believe God exists. Women were more likely than men to believe in the supernatural and were also more likely to visit a medium…

“A survey of U.S. college students done in 2006 found 23 percent of freshmen had a general belief in paranormal concepts – from astrology to communicating with the dead. Interestingly, the number jumped to 31 percent among seniors and 34 percent among graduate students.”

America’s Recession Deepens

Reuters reported on November 19:

“Consumer prices fell at a record pace in October and new-home building slumped to fresh lows, according to government reports on Wednesday that suggested the economy likely is already in a recession that may be long and deep.”

The Associated Press added on November 19:

“Consumer prices plunged by the largest amount in the past 61 years in October… With the economy sliding into a recession and mortgage foreclosures continuing to rise to record levels, there was little prospect of a rebound any time soon…”

The New York Times wrote on November 19:

“Shares on Wall Street closed at their lowest levels in five years on Wednesday as hope dimmed in Washington for an emergency bailout of the auto industry. The late-day sell-off came in frenzy amid growing fears of deflation.

“The Dow Jones settled below 8,000 for the first time since 2003…  All corners of the market were down, but the financial, transportation and consumer sectors took the heaviest blows. Financial stocks were down an average of 9 percent over the day, and the banking giant Citigroup dropped 22 percent.

“Auto shares fell as the leaders of the three American automakers reprised their appearance on Capitol Hill to discuss an emergency bailout and the threat of bankruptcy. General Motors was down 10 percent, to $2.78 a share, and the Ford Motor Company was down 24 percent, to $1.27. By late Wednesday, it seemed clear the automakers would leave Washington without the $25 billion in federal aid the companies contend is critical to their long-term survival.”

Reuters reported on November 20:

“The U.S. financial system still needs at least $1 trillion to $1.2 trillion of tangible common equity to restore confidence and improve liquidity in the credit markets, Friedman Billings Ramsey analyst Paul Miller said. Eight financial companies — Citigroup Inc, Morgan Stanley, Goldman Sachs Group Inc, Wells Fargo & Co, JPMorgan Chase & Co, American International Group Inc, Bank of America Corp and GE Financial — are in greatest need of capital, he said… Currently, the U.S. financial system has $37 trillion of debt outstanding, he noted…”

Obama’s Promises Unrealizable

Der Spiegel Online wrote on November 19:

“By some estimates the total cost of Barack Obama’s campaign promises could come to $2 trillion. The new president will have to disappoint many of his voters — or resign himself to an enormous government deficit…

“During the campaign, he repeated his mantra — ‘Yes, we can’ — several times daily. But now it will be more important for Obama to know when to say ‘no’… Time is running short… The new president can hardly expect any tailwind from the economy. A wave of layoffs has begun to accelerate at an incredible rate, destroying 17,000 jobs in January, 62,000 in June and 240,000 in October. Experts say that America could see next year’s unemployment rate rise to twice the 2007 rate…”

Catholic Cardinal Says, Future with Obama Will Be Catastrophic

Zenit wrote on November 19:

“The decline in respect for human life has had ‘catastrophic effects’ on the unity and integrity of the United States, which are evidenced by the presidential election, says a Vatican official [Baltimore-native Cardinal James Stafford, major penitentiary of the Apostolic Penitentiary]… “‘On Nov. 4, 2008, America suffered a cultural earthquake,’ continued the cardinal. He pointed out that president-elect Barack Obama campaigned on an ‘extremist anti-life platform,’ and described him as ‘aggressive, disruptive and apocalyptic.’

“Now Catholics will experience the Agony of the Garden through the next few years of Obama’s presidency, the cardinal said, and will have to endure the ‘hot, angry tears of betrayal.’ … Cardinal Stafford served as the archbishop of Denver for 10 years before being called to Rome.”

Europe Needs to Get Its House in Order

Deutsche Welle wrote on November 18:

“Congratulations Mr. President … Here is our Agenda… Barack Obama’s election has created a ground swelling of excitement in Europe. In an effort to revitalize transatlantic relations, several issues need to be addressed. First and foremost, Europe needs to get its own house in order if it expects the new President to heed its calls for greater cooperation.

“The global Obamania hype has reached European soil. Expectations are gigantic. But the fate of the transatlantic relationship does not solely depend on Barack Obama. Its fate will rather be decided by the way Europeans react to and interact with the new US President, as well as to what extent they are willing and able to set an agenda and contribute to its implementation.

“The current, rather passive, European approach concerning the future of transatlantic relations is founded on a substantial strategic deficit within most EU member states’ capitals. It limits Europeans to being spectators and passive bystanders instead of being proactive, contributing partners. Consequently, two things need to change if the EU’s role within the transatlantic partnership is to be saved from marginalization.

“First, the US needs to give up its reluctance to accept the reality of a multipolar world order. Second, the EU needs to become a credible partner for Washington, capable of dealing with the major tasks of our time… it is primarily the European Union that holds the key to this development… Military force no longer represents the core element of political power…”

The Failed G-20 Summit

Der Spiegel Online wrote on November 18:

“At the financial summit in Washington, the international community was unduly respectful of the United States, neglecting to probe more deeply into the reasons for the crisis… The closing statements of the meeting, which had already been written before the dinner, absolved the United States of any blame. Suddenly the financial crisis had become nationless, which, given what has happened in the US real estate market, the business practices on Wall Street and the fact that American financial regulators have looked the other way for years, could be counted as a final coup for the Bush administration.”

In a related article, the magazine wrote on November 17:

“In the end, delegates to the financial summit of industrial and emerging economies delivered a closing statement without any concrete decisions. Host Bush has nothing left to say as the world eagerly awaits his successor Obama…

“This time around, it was primarily a meeting of either outgoing or politically weakened statesmen and women. Bush is a lame duck. A number of European leaders had just spent the week announcing that their economies had entered a recession. Russia has lost political influence as a result of plunging oil prices. And none of them saw the crisis coming…”

World Economy Looks Gloomier Than “Expected”

Deutsche Welle reported on November 20:

“A world economic confidence index released Thursday dropped to its lowest level in 20 years amid further news of heavy losses on global markets and an ongoing crisis among the world’s carmakers. The index, drawn up by German institute Ifo, was released as fears of a looming global economic recession grow… ‘Altogether the data points to a global recession,’ the institute said… adding that expectations for the coming six months have worsened further…

“France’s PSA Peugeot Citroen announced it would cut 3,550 jobs, and Britain’s Rolls-Royce, which is also a maker of plane engines, said it would cut up to 2,000 jobs worldwide. While in Japan, Isuzu Motors said it would cut 1,400 jobs… In the US, the chiefs of General Motors, Ford and Chrysler warned of a ‘catastrophic collapse’ of the industry if the government did not approve multibillion-dollar loans for the auto giants.”

Gigantic European Bail-Out Plan in the Making?

The EUObserver reported on November 20:

“A massive €130 billion prime-the-pump operation to stimulate the European economy is currently being planned by the European Commission. First revealed by German weekly Der Spiegel’s online edition, the EU executive is constructing a package that would see each of the 27 member states commit one percent of their GDP to fiscal stimulus measures to pull the bloc out of its downturn and stave off the greater threat of deflation…

“The move may run into resistance from some member states, whose public finances have little room to manoeuvre without borrowing the money for such an initiative, particularly at a time when the economic crisis is putting pressure on government revenues. Until now, Germany has strongly resisted pan-European measures, although it has already adopted domestic stimulus measures amounting to €32 billion over two years – equivalent to just over one percent of GDP…

“A stimulus package of such size would be a major turnaround for most European leaders… the downturn has been of so considerable a scale and speed – the eurozone officially entered its first-ever recession last Friday – that liberal hostility to government intervention is crumbling across the board.”

Iran’s Production of Uranium Too Close for Comfort?

Bloomberg reported on November 20:

“Iran has produced the minimum amount of low-enriched uranium needed to make a bomb if it was processed to weapons grade, a scenario that would first require the expulsion of UN inspectors, arms-control experts said. ‘There is definitely cause for concern,’ Andreas Persbo, a senior researcher… said.

“… analysts estimate that it would take Iran at least one year to make enough bomb-grade uranium, if it were to leave the treaty and reconfigure its enrichment facilities. Their comments followed a New York Times report today in which experts were cited as saying that yesterday’s IAEA report shows Iran has enough enriched uranium to make a bomb if the country breaches its treaty obligations and masters the design of a warhead.”

The Jerusalem Post added on November 20:

“One must not forget that the enriched uranium is low grade. For now, it can be used for nuclear power plants. However, it can be further refined into higher grade uranium. To do that, enrichment facilities at Natanz would have to go through major visible reconfigurations. For example, all the piping infrastructure will have to be redone. This would make it very difficult for Iran to hide from the IAEA inspectors.

“Unless, that is, there are secret facilities where the low enriched uranium is purified, away from the eyes and knowledge of the IAEA. And this is very possible… With Russia and China refusing to back further sanctions, all that remains diplomatically is for incoming President Barack Obama to try and use direct negotiations. Unless there is a miracle and the Russians and Chinese join in, there is little else that can be done diplomatically…

“If talks fail, the US could also take unilateral sanctions, the most powerful of which could be sanctions against the Iranian Central Bank (Bank Markazi). With oil prices falling, and reports that Iran will face a $60 billion budget deficit next year, this may force Ayatollah Khamenei to take negotiations seriously. One can not also help but notice that such reports help those who want a military solution. This may not be around the corner; however, it is there. Even when Obama enters office.”

The World’s Fight Against Somalia’s Pirates

Deutsche Welle wrote on November 19:

“Efforts by the European Union and NATO to fight pirates off the coast of Somalia have proven futile. With a limited mandate, their ships cannot keep armed bandits from seizing merchant vessels and taking hostages… Although NATO, European and US vessels are stationed in the region, they are helpless in effectively battling the increasing problem of piracy…

“NATO has four ships on patrol in the waters off Somalia, with two protecting UN food aid convoys to the troubled Horn of Africa country. The mission, NATO’s first-ever against pirates, ends in mid-December when the more extensive European Union operation ‘Atalanta’ begins…

“Given that the pirates in the region are well-armed with grenades, heavy machine guns and rocket-launchers, most foreign navies have steered clear of direct confrontation once ships have been hijacked, for fear of putting hostages at risk. Somalia’s vast coastline is also virtually impossible to monitor completely, even for modern warships.”

The Los Angeles Times wrote on November 19:

“An Indian warship patrolling the treacherous waters off the Horn of Africa destroyed a suspected pirate ship late Tuesday, at least the second time in a week that India’s armed forces have unleashed military force to combat piracy amid a surge in maritime lawlessness… Along with the U.S., Russia and European nations, India is among the naval forces patrolling the Gulf of Aden…

“Concern over piracy surged after audacious bandits Saturday hijacked a gigantic 1,000-foot tanker loaded with at least $100 million worth of crude oil and moored it near a pirate’s haven off the coast of Somalia. The pirates aboard the tanker, the Sirius Star, today demanded money in exchange for the $120-million ship, its crew and cargo…

“The U.S. military said it could take only limited steps to intervene and thwart pirates. Maritime experts say international law on jurisdiction regarding pirates is murky…

“But New Delhi has apparently taken a different approach. Last week, Indian marine commandos on a helicopter swooped in on the scene of a hijacking to fend off pirates assailing an Indian commercial ship. Two suspected pirates were killed in a shootout with British commandos defending a Danish vessel this month…

“More than 90 ships have been hijacked by pirates this year off the Horn of Africa… today’s pirates are tough young criminals armed with AK-47s and dressed in camouflage… modern piracy [is described] as ‘ruthless, high-level organized crime.'”

“Absurdistan Along the Horn of Africa”

Der Spiegel Online wrote on November 20:

“Just a few weeks before the EU anti-pirate mission is set to deploy, German officials are still unsure how much military force they are allowed to use against Somali raiders. Politicians are frustrated by the indecision and, on Thursday, German commentators joined the fray.

“… the EU will begin its own military mission, dubbed ‘Atalanta,’ in early December… the German government claims that it is bound by a treaty it signed in 1994 that strictly defines the scope of military encounters on the high seas. According to the terms of that convention, German ships may have to wait until pirates openly demonstrate aggression before they’re permitted to act in self-defense; and they may be required to cease their attacks as soon as pirates have gained control of another ship…

“The business daily Handelsblatt writes: ‘The pirates on the Horn of Africa are steering attention to another German farce…’

“The left-leaning Berliner Zeitung writes: ‘Piracy can only be challenged from land. It’s only when Somalia has a fully functioning government that the pirate dens will be cleared out… It’s only when Somali has a competent coast guard that one of Africa’s longest coastal stretches will be brought under control. But instead of that, the world is only talking about defending the attacks from the sea. The West is exclusively defending itself and its economic interests.'”

Prince Charles–The Defender of WHAT Faith?

The Telegraph reported on November 14:

“The Prince of Wales, who is 60 today, is planning a symbolic change when he becomes King by taking the title Defender OF FAITH to reflect Britain’s multicultural society… The Prince caused controversy within the Anglican church when he floated the idea several years ago of becoming Defender of THE FAITHS in an attempt to embrace the other religions in Britain…

“The Monarch has been known by the title Defender of THE FAITH ever since the title was bestowed on Henry VIII by the Pope in 1521 for his early support for Roman Catholicism… Vernon Bogdanor, the constitutionalist who is Professor of Government at Oxford University, said: ‘In 1952, when the Queen came to the throne, it was very much an Anglican society. The Prince of Wales will become head of a nation which is multi-denominational. The Prince has said that he wants to be seen as a defender of all religious faiths and not just the Anglican church but the Coronation is an Anglican ceremony. Any change would require legislation.’

“Professor Bogdanor said that after the Coronation, which will take place at Westminster Abbey, it was plausible that a second service would be held for other denominations and faiths, such as the Muslims and Hindus…”

When Mammoths Walk(ed) the Earth…

The Associated Press reported on November 19:

“Bringing ‘Jurassic Park’ one step closer to reality, scientists have deciphered much of the genetic code of the woolly mammoth, a feat they say could allow them to recreate the shaggy, prehistoric beast in as little as a decade or two. The project marks the first time researchers have spelled out the DNA of an extinct species, and it raised the possibility that other ancient animals such as mastodons and sabertooth tigers might someday walk the Earth again.

“‘It could be done. The question is, just because we might be able to do it one day, should we do it?’ asked Stephan Schuster, a Penn State University biochemist and co-author of the new research. ‘I would be surprised to see if it would take more than 10 or 20 years to do it.'”

For further information, you may want to listen to or view Norbert Link’s two-part series on the “Biblical World of Animals.” Audio and video versions are posted on our Website (www.eternalgod.org under Audio); additional video versions are posted on Google Video, as follows:

“Bible Study–The Biblical World of Animals, Part 1,” October 25, 2008

“Bible Study–The Biblical World of Animals, Part 2,” November 1, 2008

USA–Is the “Last Best Hope on Earth” Gone?

The British paper, The Daily Mail, wrote on November 8:

“The swooning frenzy over the choice of Barack Obama as President of the United States must be one of the most absurd waves of self-deception and swirling fantasy ever to sweep through an advanced civilisation… This is a cult like the one which grew up around Princess Diana, bereft of reason and hostile to facts…

“Proper books, recording his sordid associates, his cowardly voting record, his astonishingly militant commitment to unrestricted abortion and his blundering trip to Africa, are little-read and hard to find… one of his alarmingly close associates, a state-subsidised slum landlord called Tony Rezko, has been convicted on fraud and corruption charges.

“… the US is just as segregated as it was before Martin Luther King – in schools, streets, neighbourhoods, holidays… Mr Obama, thanks mainly to the now-departed grandmother he alternately praised as a saint and denounced as a racial bigot, has the huge advantages of an expensive private education. He did not have to grow up in the badlands of useless schools, shattered families and gangs which are the lot of so many young black men of his generation.

“If the nonsensical claims made for this election were true, then every positive discrimination programme aimed at helping black people into jobs they otherwise wouldn’t get should be abandoned forthwith. Nothing of the kind will happen. On the contrary, there will probably be more of them. And if those who voted for Obama were all proving their anti-racist nobility, that presumably means that those many millions who didn’t vote for him were proving themselves to be hopeless bigots. This is obviously untrue…

“The United States, having for the most part a deeply conservative people, had until now just about stood out against many of the mistakes which have ruined so much of the rest of the world. Suspicious of welfare addiction, feeble justice and high taxes, totally committed to preserving its own national sovereignty, unabashedly Christian in a world part secular and part Muslim, suspicious of the Great Global Warming panic, it was unique.

“These strengths had been fading for some time, mainly due to poorly controlled mass immigration and to the march of political correctness. They had also been weakened by the failure of America’s conservative party – the Republicans – to fight on the cultural and moral fronts. They preferred to posture on the world stage. Scared of confronting Left-wing teachers and sexual revolutionaries at home, they could order soldiers to be brave on their behalf in far-off deserts. And now the US, like Britain before it, has begun the long slow descent into the Third World. How sad. Where now is our last best hope on Earth?”

“Will the Real Barack Obama Now Finally Stand Up?”

The British paper, The Independent, wrote on November 10:

“What is a strong way of saying ‘ecstatic enthusiasm’? No President has ever had such a hyperbolic welcome. The Second Coming would have been greeted in more measured terms. Then again, much of the reportage assumed that this was a secular Second Coming: a rebirth of America. Thus far, it has been impossible to fault Mr Obama. He has certainly displayed magnanimity in victory.

“… [at] some stage, the hard work will have to begin, the hard decisions will force their way on to the agenda. The Russians have already made it plain that they do not share in the global euphoria. While everyone else expresses hope, they exploit weakness. Nor is it likely that Iran, North Korea, al-Qa’ida and the Taliban will be asking for tickets to the inauguration. Then there is the little matter of the economy. No president since Abraham Lincoln has taken office in such troubled circumstances – and even Lincoln only had one enormous problem…

“His victory has at least two fascinating aspects. First, he will be much the least experienced occupier of the White House in the era of the imperial presidency. Second, no one knows what he believes. In every previous presidential campaign, there were moments of political nakedness, when the voters were able to see the candidate as he really was. Mr Obama kept his clothes on.

“We know that he had one of the most left-wing voting records in the Senate… His speeches are absolutely no guide. Mr Obama is an orator, but thus far, he has used that gift to create a cloud of exaltation. There are hardly any arguments…

“The most alarming aspect of the current economic crisis is that none of the experts seem to understand it. So how can anyone tell when it is going to end?…

“Mr Obama was right to insist that Wall Street cannot prosper if Main Street is suffering. But a healthy financial sector is vital… Many Congressional Democrats are economic ignoramuses with all the wrong instincts. If they had their way, there would be a forest of new regulations… But the world needs a strong Wall St. It is to be hoped that President Obama understands this. A president who tells blacks that the Civil Rights era belongs to history while reassuring American bankers: that is not how most of Mr Obama’s followers expect him to behave. But greatness is not to be found by pandering to followers’ illusions…

“Thus far – the cliché is inescapable – the Obama story has been stranger than fiction. Yet the real drama has still to begin.”

Will Guantanamo Bay Prison Be Shut… and Then What?

The Independent wrote on November 10:

“Mr Obama has a long-standing commitment to shut down Guantanamo, which has become a symbol of injustice for human rights campaigners, and a lightning rod for anti-US criticism since it opened eight years ago. Closing the prison, which is on a part of Cuba leased to the US, will bring to an end one of the most poisonous legacies of the Bush administration while sending a signal that the ‘war on terror’ is under more enlightened management.

“During his election campaign, Mr Obama described Guantanamo and the CIA’s secret prisons around the world as a ‘sad chapter in American history’. Other aspects of Mr Bush’s ‘war on terror’ will also demand Mr Obama’s urgent attention such as yesterday’s revelation by the New York Times that the US military has, during the past four years, conducted up to a dozen secret raids in Pakistan and other countries not at war with the US. Mr Obama has previously said he would approve such raids against enemies such as Osama bin Laden if… no other option was available.

“Mr Obama’s plans for Guantanamo inmates should see most detainees, against whom there is little or no evidence, being released to their home countries after years in legal limbo. Others will face prosecution in US criminal courts. One problem… those courts will face is deciding whether evidence from anonymous intelligence sources or obtained without any legal process can be taken into account. Some Guantanamo inmates suffered torture or other abusive treatment at the hands of CIA interrogators either at the prison or after they were picked up in security sweeps in Afghanistan or Pakistan. A few have been through the controversial military commissions process, from which even prosecutors have resigned. The US Supreme Court has several times rebuked the Bush administration for its handling of the detainees…

“Republicans will strongly oppose bringing terrorism suspects to the US. Many Democrats oppose the creation of a new court system on US soil that will have fewer rights for suspects than at present.

“Laurence Tribe, a Harvard law professor who is acting as a legal adviser to the Obama team, said at the weekend that ‘theoretical’ plans for Guantanamo would now become more focused because closing the prison is a top priority. But he also predicted that transferring suspected terrorists to US soil will be a cause of controversy. ‘I think the answer is going to be, they can be as securely guarded on US soil as anywhere else,’ Mr Tribe said. ‘We can’t put people in a dungeon forever without processing whether they deserve to be there.’…

“Lawyers representing clients at Guantanamo Bay such as Marc Falkoff point out that only a dozen or so detainees are known to be avowed terrorists… ‘Most of the detainees are goat herders, or Arabs who volunteered to help the Taliban, but they are not hardcore terrorists. The real problem is getting their home countries to accept them back.'”

How American Muslims View Barack Obama

USA Today reported on November 7:

“After months of balancing their support for the presidential candidate with concerns that their allegiance could do more harm than good, millions of relieved American Muslims cheered the election of the son of a Muslim immigrant whose middle name is Hussein.

“Record numbers of U.S. Muslims had cast their votes, boosted by registration drives held by the Muslim American Society Freedom Foundation, which targeted swing-state residents. MAS Freedom estimates that about 70,000 Muslims voted in Virginia, a state that had not backed a Democratic president in more than 40 years, and which Barack Obama won by fewer than 160,000 votes…

“The Muslim community has mobilized greatly since 2000, when most of its voters — with the exception of African American Muslims — had supported George W. Bush. Ultimately dismayed by the president’s post-9/11 policies, they began swinging Democratic in 2004… Early estimates indicate that between 70 and 90% of Muslim voters supported Obama this year…

“Throughout the party primaries and the general election, Muslims had to temper their political activism against a smear campaign calling Obama a ‘secret Muslim,’ based on his father’s Kenyan roots. These efforts ultimately backfired; Jen’nan Read, a Duke University sociology professor, said the rumors helped galvanize Muslims and other offended Americans to fight back.

“But some Muslims were more frustrated that Obama’s campaign, which responded to the accusations by highlighting the candidate’s Christian faith, did not also state that there is nothing wrong with being a Muslim American — an anti-Islamophobia point finally made in Gen. Colin Powell’s mid-October endorsement. They also complained when Obama volunteers moved two headscarf-wearing Muslim women out of a background shot at a Detroit rally last summer, prompting the campaign to apologize.

“‘They were disappointed,’ Read said. ‘But they were also disappointed by the past eight years of George Bush, and more disappointed in that than in (Obama’s) campaign strategy.’ Rumors of Obama’s Muslim ties, and the possible implications for U.S.-Israel relations, also fueled an unusually tough battle for the Jewish vote. But ultimately, about 78% of Jews supported Obama — slightly higher than their 2004 votes for John Kerry, although the Republican Jewish Coalition noted that this did not reach their support for either Bill Clinton or Al Gore…

“In terms of immediate goals for the next White House resident, the Muslim community now wants to see Obama fulfill his promise to withdraw U.S. troops from Iraq, and to take a more balanced approach when dealing with turmoil in Pakistan and the Middle East…”

Gov. Schwarzenegger’s Position on Same-Sex Marriage “Evolving”

The Los Angeles Times reported on November 10:

“Gov. Arnold Schwarzenegger on Sunday expressed hope that the California Supreme Court would overturn Proposition 8, the ballot initiative that outlawed same-sex marriage. He also predicted that the 18,000 gay and lesbian couples who have already wed would not see their marriages nullified by the initiative. ‘It’s unfortunate, obviously, but it’s not the end,’ Schwarzenegger said…

“With his favorable comments toward gay marriage, the governor’s thinking appears to have evolved on the issue. In past statements, he has said he believes that marriage should be between a man and a woman and has rejected legislation authorizing same-sex marriage. Yet he has also said he would not care if same-sex marriages were legal, saying he believed that such an important societal issue should be determined by the voters or the courts. Schwarzenegger publicly opposed Proposition 8, which amends the state Constitution to declare that ‘only marriage between a man and a woman is valid or recognized in California.’

“On Sunday, he urged backers of gay marriage to follow the lesson he learned as a bodybuilder trying to lift weights that were too heavy for him at first. ‘I learned that you should never ever give up. . . . They should never give up. They should be on it and on it until they get it done’…

“Schwarzenegger’s comments came as protesters took to the streets for a fifth day in a row, sometimes marching to [and protesting against] Catholic and Mormon churches that supported passage of the ballot measure…

“Some churches… assailed Proposition 8 as discriminatory. ‘We will continue to bless same-sex unions here until we can legally celebrate same-sex unions again,’… [Pastor] Ed Bacon told 1,000 congregants during Sunday services at All Saints Episcopal Church in Pasadena, which has blessed same-sex unions for 16 years… [He said:] “In the eyes of God, these people are married.”

The Associated Press added on November 10:

“Speaking on CNN’s ‘Late Edition’ Sunday, Republican Gov. Arnold Schwarzenegger expressed disappointment at Proposition 8’s passage. ‘It is unfortunate,’ Schwarzenegger said. ‘But it is not the end because I think this will go back into the courts. … It’s the same as in the 1948 case when blacks and whites were not allowed to marry. This falls into the same category.'”

Circuit City Files for Bankruptcy

The Associated Press reported on November 10:

“Circuit City Stores Inc. filed for bankruptcy protection on Monday heading into the busy holiday season as analysts question whether the nation’s second-biggest electronics retailer will be able to survive… The company also said it cut 700 more jobs at its headquarters, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers.

“Circuit City filed for Chapter 11 protection, which will allow it to hold off creditors and continue operations while it develops a reorganization plan. Its Canadian operations also filed for similar protection.”

AIG’s Bailout Keeps Climbing…

Bloomberg reported on November 10:

“American International Group Inc. got a $150 billion government rescue package, almost doubling the initial bailout of less than two months ago… The move extends the government’s reach into the financial system amid the worst economic crisis in 75 years…”

Troubled Banks Continue to Lobby

USA Today wrote on November 7:

“Nineteen banks taking taxpayer money from the Treasury Department have spent $32.4 million lobbying the federal government during the first nine months of this year, their lobbying disclosure reports show. Combined, the Treasury is investing in the banks $159 billion from the $700 billion financial rescue package approved by Congress last month. None of the banks has indicated it plans to stop lobbying.”

In an accompanying article, the newspaper listed some of the larger banks in question, including Merrill Lynch, Bank of America, Citigroup, JP Morgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley and Capital One.

70 Years Ago–Germany’s Kristallnacht

AFP reported on November 9:

“Germany marked Sunday [November 9] the 70th anniversary of the Kristallnacht [“the Night of Broken Glass”] pogrom, a prelude to the Holocaust, with solemn ceremonies throughout the country and celebrations of the rebirth of Jewish life here. Chancellor Angela Merkel and Jewish leaders gathered at Germany’s biggest synagogue to pay tribute to the victims of Kristallnacht on November 9-10, 1938, and to the revival of a Jewish community against all odds…

“The pogrom… saw Nazi thugs plunder Jewish businesses throughout Germany, torch some 300 synagogues and round up some 30,000 Jewish men for deportation to concentration camps. Some 90 Jews were killed in the orgy of violence, whose pretext was the murder of German diplomat Ernst vom Rath in Paris by a student, Herschel Grynspan, who sought revenge for the expulsion of his family from Germany with about 15,000 other Polish Jews…

“Historians say the Nazis tested the German public’s reaction to the spasm of anti-Semitic violence and the lack of public outcry led them to press on, culminating in the extermination campaign launched three years later…

“After national unification in 1990, Germany began accepting Jewish immigrants from the former Soviet states and the country now has one of the fastest growing Jewish communities in the world with some 110,000 members… Because it shares the same date [November 9], the fall of the Berlin Wall in 1989 was also marked Sunday at low-key events ahead of the 20th anniversary next year.”

Welt-On-Line added on November 9:

“German-born Pope Benedict voiced on Sunday his lingering pain over the night 70 years ago when the Nazis whipped up anti-Jewish riots in a pogrom known as the ‘Kristallnacht’, a harbinger of the Holocaust… ‘Still today I feel pain over what happened in those tragic events, whose memory must serve to ensure such horrors are never repeated and that we strive, on every level, against all forms of anti-Semitism and discrimination … ,’ said the pope. ‘I invite people to pray for the victims of that night and to join me in expressing profound solidarity with the Jewish world,’ the pontiff told crowds at the Vatican…

“Pope Benedict, born Joseph Ratzinger in Bavaria in 1927, was forced to join the Hitler Youth as a teenager, though both his parents opposed the Nazis. Earlier this year the pontiff spoke in New York about his teenage years being ‘marred by a sinister regime’…”

Holocaust Survivors Ask Vatican to Freeze Sainthood Procedure for Pope Pius XII

Reuters wrote on November 10:

“One of the most influential groups of Holocaust survivors accused Nazi-era Pope Pius XII on Monday of keeping ‘silent in the face of absolute evil’ and asked the Vatican to freeze his sainthood process…

“Elan Steinberg, the group’s vice president [and director emeritus of the World Jewish Congress], said in a statement: ‘There were many individuals and representatives of the Church whose shining heroism during the terrible years of the Holocaust should be recognized, but Pope Pius was not among them… ‘

“Some Jews have accused Pius, who reigned from 1939 to 1958, of turning a blind eye to the Holocaust. The Vatican says he worked silently behind the scenes and helped save many Jews… Pius was guilty of ‘public silence in the face of absolute evil,’ Steinberg said.

“‘During World War II, despite pleas and reports from other Church leaders and the Allies, Pope Pius failed to even once publicly and explicitly denounce the Nazi crimes against the Jews,’ he said. Differences over Pius’s role haunted Catholic-Jewish relations. Some Catholics recently pushed for the Pope to speed up his sainthood process and some Jews want it put on hold until Vatican archives are opened in about seven years…

“Steinberg said the Vatican should instead look to Pope John XXIII (1958-1963), who helped save Jews and who reported to the Vatican on Nazi plans to exterminate the Jews when he was a bishop and the Vatican’s wartime representative in Turkey.”

Billy Graham No Longer Pastor to President

USA Today and The Associated Press reported on November 7:

“Billy Graham’s work as a pastor to presidents is coming to an end, but he is praying for Barack Obama as the next U.S. leader begins his work, Graham’s son said Friday on the ailing evangelist’s 90th birthday… Graham’s views of the world are still respected in White House circles. Republican presidential candidate John McCain visited Graham at his mountainside home during the campaign, and Obama tried to meet Graham but wasn’t able to do so because of the preacher’s poor health.

“Though never partisan in his preaching, Billy Graham is a registered Democrat. His son expressed concern about Obama’s views on abortion and gay marriage — an issue Franklin Graham raised in a meeting with the Illinois senator — saying that he and his father are conservatives who believe the Bible speaks clearly on those issues.

“‘President-elect Obama heard our position,’ Franklin Graham said. ‘And I told him that this was very difficult for us and hard for us. It’s a moral issue that we just can’t back down on. But he’s our president-elect, and those positions that he holds that are contrary to Biblical teaching, I hope that God will change his heart…’ Obama favors abortion rights, and does not support a constitutional amendment to ban gay marriage…

“His days at 90 are a stark contrast to Graham’s days as a globe-trotting evangelist — a ministry that put him behind the pulpit to speak with 215 million people in more than 185 countries and placed him in the confidence of some of the world’s most powerful people.”

Robert Schuller Ousts His Son–Does Not Want to Preach What Is Sin

The Los Angeles Times reported on October 27:

“The schism between… Robert H. Schuller and his son at Orange County’s Crystal Cathedral arose over a disagreement about broadening the church’s long-running television show, ‘Hour of Power,’ beyond a single personality — a move opposed by the younger Schuller, pastors involved in the matter said Sunday. The elder Schuller announced Saturday that he was removing his son… Robert A. Schuller, as the show’s only preacher three years after turning the program over to him. The show will now be hosted by different pastors, and even businessmen, from around the country and Latin America…

“Schuller built his worldwide ministry over a half century on the psychology of positive thinking and appealing to people turned off by the formality of traditional faiths. In contrast, his son’s sermons have been full of direct references to the Bible. ‘I was called to start a mission, not a church,’ Schuller told his audience Sunday. ‘There is a difference. . . . You don’t try to preach . . . what is sin and what isn’t sin. A mission is a place where you ask nonbelievers to come and find faith and hope and feel love. We’re a mission first, a church second.’… ‘I love my son and am proud of my son,’ he said, adding that the younger Schuller will continue to work as a Crystal Cathedral senior pastor.”

Pope Condemns Trade in Human Organs

Reuters reported on November 7:

“Pope Benedict condemned the trade in human organs as an abomination Friday and urged caution in removing organs for transplant from dying donors who might not actually yet be dead… Buying and selling of human organs is a lucrative business for suppliers and countries that allow foreign ‘transplant tourists’ to have operations they cannot get at home. Organs are often bought from poor peasants and sometimes harvested from condemned prisoners…

“A recent article in the Vatican daily L’Osservatore Romano challenged the medical consensus that brain death marks the death of a person. Since the brain can die before other organs, this allows doctors to harvest organs for transplant… The Vatican has long accepted the brain death criterion. Rejecting it now could force Catholic hospitals to revert to the cardiac death rule, leaving many fewer organs for transplant.”

Life Begins at Defined Moment of Conception

On November 7, 2008, Zenit published an interview with scientist Maureen Condic who holds that human life begins at a defined moment of conception. Condic is an associate professor of neurobiology and anatomy at the University of Utah School of Medicine. She received her doctorate in neurobiology from the University of California, Berkely. Her teaching focuses primarily on embryonic development, and she directs the University of Utah School of Medicine’s course in human embryology.

In the interview, Condic stated the following:

“… resolving when human life begins has important implications for a number of controversial political topics, including abortion and human embryonic stem cell research… The central question of ‘when does human life begin’ can be stated in a somewhat different way: When do sperm and egg cease to be, and what kind of thing takes their place once they cease to be?…

“[My] conclusion [is] that a new human organism comes into existence at the moment of sperm-egg fusion… a scientific analysis of the best available data does not support the conclusion that fertilization is a ‘process’; it supports the conclusion that fertilization is an event that takes less than a second to complete. The events of the first 24 hours following sperm-egg fusion are clearly unique, but they are also clearly acts of a human organism, not acts of a mere human cell.”

Barack Obama Wins US Election–and the World Hopes for Real Change

Deutsche Welle reported on November 5:

“Democrat Barack Obama has won the US presidential election by a large margin. Voter turnout at 64 percent was the highest since World War II. Speaking to supporters in Chicago, the president-elect promised a new direction for the country, and reached out to supporters of his opponent, Republican Senator John McCain. Outgoing President, George W. Bush, congratulated John McCain for the campaign he conducted with Governor Sarah Palin. Obama, who takes office in eleven weeks, will be the first African American president in US history. He has won 28 states to win 349 Electoral College votes, far more than the 270 he needed…”

“World leaders have hailed Barack Obama’s victory in the US presidential election as ‘the dawn of a new era’ and called for the global superpower to change the way it does business. German Chancellor Angela Merkel congratulated Obama for what she called his ‘historic victory’. French President Nicolas Sarkozy, whose country holds the European Union’s rotating presidency, extended his ‘warmest  congratulations.’ Kenya, the birthplace of Obama’s father, declared a national holiday to welcome the world’s first, black US president.”

The EUObserver reported on November 5:

“… Brussels urged for a ‘new deal in a new world’ under the leadership of Barack Obama. ‘This is a time for a renewed commitment between Europe and the United States of America,’ European Commission President Jose Manuel Barroso said… [He] assured the US President-elect of his support when both Brussels and Washington will ‘face together the many challenges ahead of us’…

“French President Nicolas Sarkozy whose country is currently chairing the EU congratulated him for the ‘brilliant victory,’ noting ‘By choosing you, the American nation has chosen change, openness and optimism.’

“‘It would give an excellent message to the people of the EU if Barack Obama were to make a speech in the European Parliament during his first visit to Europe,’ the parliament’s president, Hans Gert Poettering, said in his statement of congratulation. ‘This way he could address the almost 500 million citizens of the European Union,’ he added.”

The Difficult Road Ahead for President-Elect Barack Obama

The New York Times wrote on November 5:

“No president since before Barack Obama was born has ascended to the Oval Office confronted by the accumulation of seismic challenges awaiting him… On the shoulders of a 47-year-old first-term senator, with the power of inspiration yet no real executive experience, now falls the responsibility of prosecuting two wars, protecting the nation from terrorist threat and stitching back together a shredded economy…

“What kind of decision maker and leader Mr. Obama will be remains unclear even to many of his supporters…

“Whatever collaboration there may be in the short term, Mr. Obama represents the end of the Bush era in the long term. Yet he will find himself dealing with the Bush legacy for years to come. He promised on the campaign trail to close the detention facility at the United States naval base at Guantánamo Bay, Cuba, but analysts in both parties expect that to be more difficult than he imagines. He will inherit a deficit that could approach $1 trillion next year, which could curtail his ambitions, like expanding health care coverage…

“Mr. Obama’s soaring speeches have created such a well of anticipation that there is a deep danger of letdown. He talked during the campaign of a ‘new politics’ bringing Republicans and Democrats together. But if he really works with Republicans to find common ground on issues like Iraq, terrorism and climate change, he risks alienating his liberal base…

“‘There’s always some surprise that you can’t plan for,’ said Nancy E. Soderberg, a top national security aide under Mr. Clinton. She recalled the first President George Bush’s decision to send troops into Somalia just before handing over the Oval Office to Mr. Clinton…”

The Los Angeles Times added on November 4:

“The nation is in dire economic straits… The new president will focus first on stabilizing the economy… he will probably defer some of his biggest, most controversial goals until later — a decision that may send some of his liberal supporters into postelection depression…”

The Associated Press wrote on November 5:

“No president since Franklin D. Roosevelt has faced economic and financial market crises so dire and so urgent as Obama confronts now. And Obama also must deal with wars in Iraq, which he has promised to end, and in Afghanistan, where he plans to send U.S. reinforcements. He may have headaches with his own Democrats on war issues. Liberal Democrats want immediate withdrawal from Iraq, and may balk at sending more troops to Afghanistan…

“With election-reinforced majorities in both the House and the Senate, the Democrats are in full command of the government. They will have an effective Senate majority of at least 56 seats, counting two independents who have sided with them… [but] it takes 60 votes to end debate and force action. That will remain an obstacle…

“Bush is the past. Obama is the future, and it begins now, in troubled times, for a president-elect with a costly agenda of promises that would be difficult to deliver in far better economic circumstances.”

The Bush Legacy–“The Era of American Leadership Is Over”

On October 30, Der Spiegel Online published an article, which gave an interesting assessment of the USA. We are setting forth below excerpts from the article, which accurately describe how most Germans and Europeans look today at President Bush, his administration and the country as a whole. The big question is, will the new U.S. administration under President Obama be able to substantially change European perceptions of the USA?

Der Spiegel Online wrote:

“In his two terms in the White House, US President George W. Bush has presided over a precipitous fall in America’s reputation around the world. History is likely to judge him a failure. Now, his successor will have to dig the US out of a deep hole… Rarely has the decline of a nation… been so strikingly documented… Never before have such low approval ratings been measured for a US president than for Bush in his last few months. They are currently at between 19 and 20 percent. More than four out of five Americans believe that the nation is ‘headed in the wrong direction’… After seven years of Republican dominance in Washington, Bush’s fellow Republicans now avoid him like the plague…

“Iraq is the gaping foreign policy wound, even if the level of violence in Baghdad and some provinces has declined. The war violated international law, divided the allies and wounded the Americans in terms of their value system and self-respect. Over and above the enormous financial cost, the war has been the source of great human tragedy. More than 4,000 American soldiers and an estimated more than 100,000 Iraqi civilians have died, while more than four million Iraqi men, women and children have been forced to flee their country.

“There will always be debates over whether it made sense to bring down the brutal regime of former Iraqi dictator Saddam Hussein with military force and become an occupying power. There is much to suggest that it was the wrong choice. It undermined America’s political standing (while bolstering Iran’s influence as a regional power) and, even among US allies, fueled the suspicion that Washington was solely interested in oil and military bases… There is ‘no longer the slightest doubt,’ writes The New Yorker, that the Bush administration lied to and manipulated the American public to gain support for the invasion of Iraq. It is also considered indisputable fact today that the conduct of the war was incompetent…

“Another ugly blemish on the Bush administration is the disgrace of human rights violations in Guantanamo and Abu Ghraib. The administration bears responsibility — as it does for the scandalous weakening of prohibitions on torture, a move that is simply incompatible with a country based on the rule of law. The man in charge at the White House is believed to have directly approved the practice of waterboarding, which simulates the sensation of drowning in its victims…

“The domestic consequences of the Bush years have also been catastrophic. The national debt has almost doubled, to an inconceivable $10 trillion (€7.75 trillion). The number of Americans without health insurance rose by over eight million to 47 million, while the number of those living below the poverty line grew by almost six million. Bush’s tax breaks for the country’s wealthiest citizens have made America’s already extreme social disparities even more glaring…

“The well-known British philosopher and author John Gray… notes: ‘The era of American global leadership, reaching back to the Second World War, is over’…”

U.S. Treasury Keeps Borrowing Over a Trillion Dollars

The speed with which the U.S. Treasury keeps borrowing astronomical amounts of money is frightening. It seems like every sense for balance has been tossed aside. How long do we have to watch until we realize that the American Titanic is hopelessly sailing full steam ahead against its providential deadly ice berg?

AFP reported on November 3:

“The US Treasury said Monday it would seek to borrow a record 550 billion dollars in the October-December period to help stabilize the financial sector hammered by the global credit crisis. The fourth-quarter borrowing estimate was substantially higher than the 408 billion dollars announced in July, and is a record high for quarterly estimates… The Treasury said the federal government had borrowed 530 billion dollars from the markets in the third quarter.”

EU at Brink of Recession

Deutsche Welle reported on November 3:

“The European Union’s economy is set to grind to a halt in 2009 and only start picking up in 2010 as the financial crisis takes its toll on one of the world’s major economic blocs. There is a ‘real risk’ of the world’s largest economy sliding into recession, officials warned… While they make for bleak reading, the EU’s 2009 figures are better than those of the United States and Japan…

“Of the EU’s four biggest economies, Britain is almost certain of facing a full-blown recession in 2009, with its gross domestic product shrinking by 1 per cent. Germany, France and Italy are all expected to post zero growth rates next year… Among the EU member states expected to feel the full pain of the downturn are… Ireland, Estonia and Latvia… Spain, the EU’s fifth-biggest economy and formerly one of its strongest economic performers, is also set to tip into recession… France… is expected to see its deficit hit the 3 per cent of GDP upper limit this year and to exceed this limit in 2010…

“The grim economic outlook comes as Europe’s top banks revealed how much they were being squeezed of profits by the credit crunch. Germany’s second-biggest bank, Commerzbank, said Monday it had lost 285 million euros and would seek an 8.2 billion euro ($10.5 billion) ‘stabilization’ injection from the government and another 15 billion euro to secure financing. French bank Societe Generale registered an 83.7 percent drop in third-quarter net profit after being hit hard by the collapse of US lender Lehman Brothers. Britain’s biggest home lender HBOS Plc reported it could lose as much as 5 billion pounds from risky assets and bad loans.”

Greater EU Political Role in the World

The EUObserver wrote on November 4:

“The EU has in a letter to the next US president appealed for a greater European role on the world stage, more engagement with a resurgent Russia and more emphasis on peacemaking in Afghanistan and the Middle East… The letter urges the new US administration to put the Middle East peace process at the top of its agenda and foresees a ‘useful role’ for the EU as co-guarantors of a future Israeli-Palestinian accord…

“The US remains critical of Germany’s reluctance to commit troops to combat zones in southern Afghanistan, while the former-communist EU states are concerned by France’s Russia-friendly tone.”

Russia vs. the West

The Times wrote on November 5:

“President Dmitri Medvedev took advantage of the euphoria in America today to order the deployment of missiles inside Europe as a response to US plans for a missile defence shield. Speaking within hours of Barack Obama’s election as the new US President, Mr Medvedev announced that Russia would base Iskander missiles in its Baltic exclave of Kaliningrad next to the border with Poland…

“His announcement prompted a burst of applause from government ministers and parliamentary deputies assembled in the Kremlin. The President failed to congratulate Mr Obama or even to mention him by name during his 85-minute state of the nation address televised live across Russia. Instead… [he] accused the West of seeking to encircle Russia and blamed the US for encouraging Georgia’s ‘barbaric aggression’ in the war over South Ossetia in August. He issued a warning that Russia would ‘not back down in the Caucasus’…

“Mr Medvedev blamed the US for the global financial crisis, saying that the rest of the world had been ‘dragged down with it into recession’. He claimed that the era of American domination after the collapse of the Soviet Union was now over.”

How Ministers of Religion Get Involved in Politics

Surely, one should not have expected too much, if anything, from the American propaganda associated with the circus of its presidential elections. Exaggerations and misrepresentations were common-place, and the Hollywood-type showmanship of America’s candidates and their political supporters were big entertainment. And famous and not-so-famous entertainers were anxious to throw their weight behind a particular candidate–as if this would mean anything.

But when ministers of religion–who are supposed to keep their noses out of the political arena–began to compare a presidential candidate with Moses, then something is for sure morbid and rotten. It reminds us of Austrian priests and bishops who praised Hitler as the new Savior and asked Austrian Catholics to vote for him and the Anschluss [“Union”]. It reminds us how the popes crowned the emperors of the Holy Roman Empire. When religions and religious representatives get involved in politics, it has ALWAYS resulted in political disaster.

The Telegraph reported on November 3:

“Adulation of the Democratic nominee is building to a crescendo. Offering a prayer before a rally in Columbus, Ohio today, Cornal Garnett Henning, an AME [American Methodist Episcopal Church] bishop for parts of Ohio, West Virginia and Pennsylvania, compared him to Moses and Martin Luther King in the same breath. He thanked God for having ‘given us a Moses and a Martin called Barack Obama’ and asked the Almighty to ‘grant that we together… may have the will to bring about the change we need’ and ensure that ‘those who cast their sacred vote will not be deprived this right’…

“As I left the rally, there was a man chatting into his cell phone while selling clothing that offered a modified version of the national motto of the United States, substituting the candidate’s name in place of that of the Almighty. ‘In Obama We Trust’, proclaimed his t-shirts.”

Such misplaced trust in ANY political candidate or president is a major reason WHY America is going down–and WHY its status of a respected superpower is a thing of the past. For more information, please read our free booklet, “The Fall and Rise of Britain and America.”

More Religious Confusion

A striking example of the hopeless confusion among some American “preachers” and “prophets” can be seen in the following article, published by the Salt Lake Tribune, dated October 30. The mistakes and errors contained in the preaching of some of those ministers are too numerous to mention, but here are some excerpts:

“Some Web sites and conservative Christians have tried to argue that Obama could be the foretold Antichrist… Tim LaHaye, co-author of the millennial Left Behind series, told the Wall Street Journal that he recognized allusions to his work in the ad but comparisons between Obama and the Antichrist were incorrect. ‘The Antichrist isn’t going to be an American, so it can’t possibly be Obama. The Bible makes it clear he will be from an obscure place, like Romania,’ the 82-year-old author told the paper…”

The Bible makes it clear that there will be NO rapture, as postulated in the Left Behind series, and that there is not even an “Antichrist” per se. Rather, the Bible speaks of the “spirit of antichrist” and “many antichrists.” However, it does talk about a military leader–the “beast”– and a religious leader–“the false prophet.” It is true that the “beast” won’t be an American, but neither will he be from an obscure country, “like Romania.” For further information, please read our free booklet, “Europe in Prophecy.”

Will There Be a Black Pope?

Times on Line wrote on November 6:

“The election of Barack Obama as the first African-American US President could pave the way for the election of the first black Pope, according to a leading black American Catholic. Wilton Daniel Gregory, 60, the Archbishop of Atlanta, said that in the past Pope Benedict XVI had himself suggested that the election of a black pontiff would ‘send a splendid signal to the world’ about the universal Church.

“Archbishop Gregory, who in 2001 became the first African American to head the US Bishops Conference… said that recent Popes, beginning with John XXIII and Paul VI, had brought prelates ‘from all nations and races’ to Rome to take up senior positions in the Curia, the Vatican hierarchy… Archbishop Gregory said that the next time cardinals gathered to elect a Pope they could ‘in their wisdom’ choose an African pontiff…”

Evolution in Harmony With Creation?–NO WAY!!!

On November 3, 2008, Zenit reported the following:

“There is no incompatibility between the scientific theory of evolution and the Christian understanding of creation, says the archbishop of Vienna, Cardinal Christoph Schönborn… Citing various addresses from Cardinal Joseph Ratzinger, before and after his election as Pope, the Austrian cardinal explained that ‘there are many proofs in favor of evolution.’ Nevertheless, he stressed, ‘though this theory enriches our knowledge of life, it doesn’t respond to the great philosophical question: Where does everything come from and how did this everything take a path until coming to be man?’…

“In the same vein, Bishop Marcelo Sánchez Sorondo, chancellor of the Pontifical Academy of the Sciences, explained to Vatican Radio that the theory of evolution is even closer to the biblical account of creation than many other theories. ‘Considering the fact that the Bible presents us with a God who created the world in seven days, the idea of a progressive creation is introduced,’ he explained. ‘In this sense, it is closer than, for example, the theories of the ancient Greeks, who thought of an eternal and cyclical world.'”

The plain truth is: Both Cardinal Schönborn and Bishop Sorondo are WRONG. There is no conceivable way to harmonize the biblical account of creation with the theory of evolution. To do so would require an interpretation of the Scriptures completely contrary to their expressed statements. For more information, please read our free booklet, “The Theory of Evolution–A Fairy Tale for Adults?”

“Frozen Mice Cloned – Are Woolly Mammoths Next?”

Will the Jurassic Park of Michael Crichton (1942-2008) become reality after all? And is the world watching helplessly and indifferently how some of its scientists may bring it to the brink of utter disaster?

Reuters reported on November 3, 2008:

“Japanese scientists have cloned mice whose bodies were frozen for… 16 years and said on Monday it may be possible to use the technique to resurrect mammoths and other extinct species… Mammoths may be the extinct animals that scientists would be most likely to try to clone, as many of the animals have been found preserved in ice. In July 2007 Russian scientists discovered the body of a baby mammoth frozen in the Arctic Yamalo-Nenetsk region…”
AFP added on November 4:

“The scientists extracted a cell nucleus from an organ of the dead mouse and planted it into an egg of another mouse which was alive, leading to the birth of the cloned mouse, the researchers said… The cloned mouse was able to reproduce with a female mouse, it added.

“But the researchers said tough challenges remain ahead on how to restore extinct animals, which would require breeding with animals that are still alive. To revive a mammoth, researchers would need to find a way to implant a cell nucleus of a mammoth into the egg of an elephant and then implant the embryo into an elephant’s uterus, it said.”

Ban on Same-Sex Marriages in California

The Associated Press reported on November 5:

“In an election otherwise full of liberal triumphs, the gay rights movement suffered a stunning defeat as California voters approved a ban on same-sex marriages that overrides a recent court decision legalizing them. The constitutional amendment… will limit marriage to heterosexual couples, the first time such a vote has taken place in a state where gay unions are legal.

“Gay-rights activists had a rough election elsewhere as well. Ban-gay-marriage amendments were approved in Arizona and Florida, and Arkansas voters approved a measure banning unmarried couples from serving as adoptive or foster parents. Supporters made clear that gays and lesbians were their main target…

“Similar bans had prevailed in 27 states before Tuesday’s elections, but none were in California’s situation—with about 18,000 gay couples married since a state Supreme Court ruling in May. The state attorney general, Jerry Brown, has said those marriages will remain valid, although legal challenges are possible…

“Elsewhere, voters in Colorado and South Dakota rejected measures that could have led to sweeping bans of abortion, and Washington became only the second state—after Oregon—to offer terminally ill people the option of physician-assisted suicide. A first-of-its-kind measure in Colorado, which was defeated soundly, would have defined life as beginning at conception. Its opponents said the proposal could lead to the outlawing of some types of birth control as well as abortion. The South Dakota measure would have banned abortions except in cases of rape, incest and serious health threat to the mother…

“Two animal-welfare measures passed—a ban on dog racing in Massachusetts, and a proposition in California that outlaws cramped cages for egg-laying chickens…”

The Mysterious Death of Austria’s Joerg Haider–Was He Murdered?

The British tabloid, The Sun, wrote on October 17:

“Investigators say the Austrian Far Right leader was nearly four times the booze limit and travelling at more than twice the permitted speed when he lost control at 88mph last Saturday (October 11). But the makers of his Volkswagen Phaeton limo insist the motor is one of the safest in the world and should have survived the crash in Klagenfurt. The car giants yesterday sent its own experts to examine the mangled wreckage and search for signs it may have been SABOTAGED.

“The German firm also sparked fury by linking the death of fascist icon Haider, 58, to that of Princess Diana. The neo-Nazi chief careered off the road as he drove home from a boozy party. But the promoter of the party has insisted he was not drunk when he set off. VW spokesman Peter Thul claimed that someone with access to Haider’s car key could have manipulated the limo’s electrics which control the engine’s ‘brain’.  He said: ‘It is a fact that Haider was going too fast, but such a speed on that curve is not a problem for the car’s physics. The Phaeton and Audi A8 are the safest of all. You’d need the key to manipulate the electronics, so someone at a garage would have to tamper with it. Many things bring to mind Lady Diana’s death.’”

Der Spiegel Online added on October 24:

“A day after Jörg Haider’s protégé [Stefan Petzner] stepped down as leader of the far-right Alliance for the Future of Austria — having all but admitted that Haider was gay — reports emerge that the late politician’s widow wants a new autopsy to investigate his death. The body of Jörg Haider… was pulled from a planned cremation last weekend at the request of his widow, Claudia Haider, according to an Austrian newspaper which says Mrs. Haider is unsatisfied with the official version of her husband’s death.

“Haider died in a sudden car accident on October 11, less than two weeks after his party was boosted in a contentious national election. He was speeding, drunk, and had reportedly just seen Stefan Petzner, his political protégé and rumored lover, at a gay bar. Petzner, 27, was abruptly sacked as Haider’s successor on Wednesday after a radio interview all but confirmed the two men were lovers. The Austrian paper Heute reported that Claudia Haider wanted a new autopsy by doctors outside Austria. The paper cited senior members of BZÖ, who suggested that Haider had been drugged.

“Some forensic… experts wondered why there were no skid marks on the road where Haider smashed his VW Phaeton and speculated he was unconscious at the wheel…

“Haider’s affair with Petzner was an open secret in Austria. Still, his death prompted a nationwide outpouring of grief — some Austrians said he was ‘our Lady Di’ — and the apparent confirmation of Haider’s bisexuality this week roiled the BZÖ’s conservative party base. ‘It has been an open secret for years that Haider was gay, and most Austrians would have preferred for it to remain a secret,’ a political science professor called Reinhold Gärtner, at Innsbruck University, told the New York Times.”

“Recession Alarm Rings Around the World”

AFP reported on October 24:

“Giants of the auto, airline and technology industries ordered emergency action against the global financial crisis on Friday as shares took a new hammering amid mounting gloom. Even a 1.5 million barrel a day production cut by OPEC failed to stop oil prices falling amid fears of a deep global recession. Grim news backing those fears came from around the world.

“China, Japan and 11 other Asian nations agreed to set up an 80-billion-dollar war chest to fight what ex-US Federal Reserve chief Alan Greenspan called a ‘once-in-a-century credit tsunami’… In Britain, official figures confirmed the country was about to enter a recession… The combined impact sent shares tumbling in both Asia and Europe after overnight falls in Wall Street… ‘The best word to describe what’s going on right now is panic,’ said Credit Suisse strategist Satoru Ogasawara…

“The suffering extended to the auto industry with Renault ordering almost all French plants closed for at least one week… PSA Peugeot-Citroen chairman Christian Strieff said he had ordered ‘massive’ production cuts… New figures showed industrial confidence in both France and Italy had fallen to the lowest level since 1993…”

Germany’s Grim Financial Crisis

AFP reported on October 25:

“The financial crisis will last at least until late 2009…  ‘The risk of collapse is far from over. It would be wrong to lift the alarm,’ Finance Minister Peer Steinbrueck said, offering a grim assessment of the country’s financial health… The 480-billion-euro (610-billion-dollar) rescue package for banks approved last week is to last through next year, ‘and we will certainly need it for that duration,’ he predicted. ‘We won’t know whether the rescue plan will entail real costs until between 2010 and 2013,’ he added.”

Deutsche Welle reported on October 25:

“Two more German banks seemed set to line up Saturday for a government rescue… One of the banks run by Germany’s 16 states, BayernLB, has already appealed for help, and a second landesbank, HSH Nordbank, run by the states of Hamburg and Schleswig-Holstein, said it had decided in principle to apply. Landesbanks, which also have powerful non-government shareholders, have been among institutions hit hardest in the past year by investment in subprime US mortgages… A third landesbank, WestLB, was on the verge of applying for help…”

Will Germany’s Financial Crises Lead to Merkel’s Downfall?

Der Spiegel Online wrote on October 27:

“The financial crisis and the threat of recession are revealing German Chancellor Angela Merkel’s weaknesses and could contribute to a dramatic change in her party’s prospects in next year’s election… No one in the coalition government is mentioning a balanced budget these days. Instead of the continued economic upturn economists had predicted for next year, the country is now more likely to fall into a recession. Merkel can no longer campaign as Germany’s feel-good chancellor…

“Merkel has, in fact, been less than convincing in recent weeks. She has hesitated and faltered when the pressure was on. And she has been behaving exactly the way that her critics have always accused her of behaving. The chancellor seemed unsure of herself when it came to preventing the impending collapse of the banking system… Merkel’s clumsiness was especially noticeable…

“Merkel also flip flopped when it came to the political consequences of the economic downturn… In addition to inaccuracies and a lack of decisiveness, the financial crisis exposed another deficit that is just as serious a problem for Merkel: She cannot explain her policies convincingly. She is unable to come up with a clever way to combine a series of individual decisions into an overarching concept. Her address to the German parliament, the Bundestag, in which she explained the government’s emergency bailout package, sounded like she was reading from a legal textbook…

“Another problem for Merkel is that she faces the crisis more or less alone. Her fellow conservative colleagues in cabinet are more of a burden than a boon.”

“Worst Financial Crisis in Human History”

The Daily Mail reported on October 25:

“Sterling took a hammering as economic figures showed the UK approaching full-blown recession. Bank of England deputy governor Charlie Bean warned that the pain is just beginning, calling the situation the ‘largest financial crisis of its kind in human history’.

“On the 79th anniversary of the Great Crash of 1929: Britain’s economic output slid 0.5 per cent – more than twice the decline expected by the City… Markets tumbled around the world, with leading UK shares losing almost £50billion… Sterling had its worst-ever week against the dollar since 1971 and hit a record low against the euro… The oil cartel Opec cut production, a move likely to increase petrol prices up to 5p a litre… Experts warned that hedge funds are facing disaster, with billions likely to be wiped off savings and pension funds… Hundreds of jobs were axed in the insurance, cosmetics, haulage and textile industries.

“The plunge was prompted by the worst set of UK growth figures for 18 years, recording the first time that the economy has officially contracted since 1992… Tory leader David Cameron declared: ‘This is the day the recession became real. We have had ten years of a Government saying no more boom and bust. We have had ten years of a Government not putting aside money for a rainy day. Well, that rainy day has now come.’…

“Foreign investors are less willing to finance the UK because of its record debt burden and slumping economic output… Analysts warned that the nation faces an extended period of austerity, as unemployment soars and families are forced to save on even basic essentials.

“Professor Andrew Clare, of Cass Business School, said Britain has amassed a record debt burden that must now be paid off. The economist added: ‘We are going to have to wear a hair shirt as a nation. If this turns out to be recession lasting five or six quarters, which looks possible, we are not going to see the slightest upturn until 2010. And even then we can expect at least five years of muted growth.’… while all economies are suffering from the banking crisis, yesterday’s ONS report suggests that Britain will be a leading casualty.”

On October 27, The Guardian wrote the following:

“Estimated paper losses from UK banks on mortgage-backed securities and corporate bonds are currently £122.6bn… Gordon Brown insisted yesterday that it was right for the government to increase borrowing in order to fund investment to help the economy through tough times…

“The Bank of England may have put the paper cost of the global crisis at a staggering $2.8 trillion, but how does one come to grips with such a sum? Think of it like this: it could… pay off the last quarter’s public debt 45 times. It is more than three times the sum of UK annual public spending…”The New York Times had already reported on October 3, 2008, that “The American International Group said on Friday that it had… drawn down $61 billion of the $85 billion emergency bridge loan it received from the Federal Reserve two weeks ago, an announcement that startled credit ratings agencies.”

A Way Out of Our Financial Mess?–Hardly!!!

MSNBC reported on October 25:

“Asian and European leaders said Saturday they have reached a broad consensus on ways to deal with the global financial meltdown and will present their views at a crisis summit next month in Washington… Although short on details, the statement, adopted Friday, calls on the IMF and similar institutions to help stabilize struggling banks and shore up flagging share prices…

“Responses to the crisis among participants have been varied thus far. The 15 euro countries and Britain reacted in dramatic fashion, agreeing to put up a total of $2.3 trillion in guarantees and emergency aid to help banks. In contrast, South Korea, China, Japan and the 10-country Association of Southeast Asian Nations have merely recommitted themselves to an $80 billion emergency fund to help those facing liquidity problems — to be established by next June…

“The IMF, whose loans normally include strict provisions, is discussing loan packages with close to a dozen countries from Iceland to Pakistan, and is examining ways to speed up the process.”

Bild Online reported on October 28 that Iceland’s bankruptcy may just be the first of additional national bankruptcies soon to come, involving countries such as the Ukraine, Pakistan, Romania, Hungary, Spain and Greece.

In addition, The Times reported on October 13, “the Royal Bank of Scotland [was] taken under state control at a cost of 20 billion pounds.” It also said that “Reliance on US will never be the same.”

Even seemingly good news in the financial market is not perceived as good these days. The Associated Press reported on October 29:

“Wall Street’s best day in two weeks — and one of its best ever — was a joyless rally. Even a manic, final-hour stampede of buying that sent the Dow Jones industrials soaring almost 900 points did nothing to dispel the feeling that the market could turn on investors in an instant.”

And, the Associated Press reported on October 30, 2008:

“The government reported Thursday the economy shrank in the summer, the strongest signal yet that a recession may have already begun, a day after the Federal Reserve slashed a key interest rate to battle an economic downturn… The classic definition of a recession is two consecutive quarters of negative GDP. Many analysts believe the GDP will decline in the current October-December period by an even larger amount and they are forecasting a negative GDP figure in the first three months of next year… While Wall Street posted its second biggest point gain in history Tuesday in anticipation of the Fed rate cut, the bleak economic reality appeared to ensure that the euphoria was short-lived…

“Analysts also noted that just lowering rates cannot serve as a panacea to overcome a credit crisis. While the goal is to encourage banks to begin lending again, financial institutions are skittish about extending new loans given the huge losses they have racked up in bad mortgages.

“Meanwhile, the administration announced that the spigot had been opened on the $700 billion fund created by Congress Oct. 3 to rescue the U.S. financial system. Treasury issued a report showing checks had been disbursed for $125 billion in payments to nine major banks, including Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs and Morgan Stanley. The goal is to bolster their balance sheets so they will resume more normal lending…

“Besides cutting interest rates, the Fed announced it was extending credit lines worth $30 billion each to the central banks of Brazil, Mexico, South Korea and Singapore in an effort to bolster financial markets in those countries and relieve investors’ anxieties. It brought to 14 the number of central banks that the Fed has entered into so-called swap arrangements for currency as a way to pump more liquidity into global credit markets, part of an effort that the Bank of England estimated has resulted in $5 trillion in support being put forward by governments worldwide.”

“Then Ephraim Went to Assyria…”

The Washington Post wrote on October 25:

“Since Sept. 1, about $16.3 trillion worth of global stock market value has been erased… this could be just the beginning of steep declines in the stock prices of major companies that depend on exports to the United States and Europe for much of their profit…

“Prime Minister Gordon Brown said he wanted the help of other countries. ‘This is a global financial recession, and we’re fighting it every way we know how, working with other countries, trying to get the banks moving here in Britain,’ he said.”

These are interesting comments from Gordon Brown in light of Hosea 7:11-12: “Ephraim [Great Britain] also is like a silly dove, without sense–They call to Egypt, They go to Assyria [Germany]. Wherever they go, I will spread My net on them; I will bring them down like birds in the air; I will chastise them According to what their congregation has heard.”

Note also Hosea 5:13: “When Ephraim saw his sickness And Judah his wound, Then Ephraim went to Assyria And sent to King Jareb [“Jareb” means, “contentious”]; Yet he cannot cure you Nor heal you of your wound.”

For more information, please read our free booklets, “Europe in Prophecy” and “The Fall and Rise of Britain and America.

Controversial Horst Seehofer New Bavarian Premier

Deutsche Welle reported on October 25:

“Horst Seehofer… has promised his party, the Christian Social Union (CSU), he will exert heavy pressure on Chancellor Angela Merkel… The CSU was replacing its leadership after a state election debacle last month in which the CSU lost its absolute majority and must enter a coalition. Delegates blamed the poll loss on Merkel, who leads the CSU’s ‘sister party,’ the Christian Democratic Union. Though both parties are broadly conservative, the CDU has rejected a CSU plan to offer a larger tax rebate to commuters, bigger exemptions for heirs from inheritance tax and other tax cuts…

“[The CSU delegates] approved with a huge majority [Seehofer’s] agreement with the smaller Free Democrat Party (FDP) to rule Bavaria jointly… For the first time in 46 years, the CSU is unable to rule the largely Catholic state of Bavaria without a coalition partner… Seehofer said his objective as premier replacing Guenther Beckstein would be to restore the CSU’s old strength, with 50 to 60 per cent of the popular vote.”

Seehofer resigned his post as the German minister of agriculture, to be able to become the new Bavarian premier. He came into the limelight recently due to his marital infidelity, his fathering of a child out of wedlock, and his subsequent denial of his ongoing extramarital adulterous affair, causing a temporary split-up within his family. However, according to Bild Online, when he was sworn in as the new Bavarian Premier on Tuesday, his wife and his two adult children were present during the ceremony.

Seehofer has the reputation of a controversial and unreliable politician. In an article, dated October 9, 2008, the German daily, Rhein-Neckar Zeitung, called him a “chameleon.” It continued: “Reliability does not count for him, but rather clever political tactics.” The paper stated that even his friends describe him as “fickle and as a political crank.” One Bavarian minister was quoted as saying in the past, “If Seehofer meddles one more time in my affairs, I’m going to slap him.”

Incredible… How America Is Losing its Way

WorldNetDaily reported on October 25:

“A Wisconsin pastor has been charged with felony physical abuse of a child after he spanked his 12-year-old son for lying and a teacher notified social services… [The minister] is free on a $10,000 bond, but he could face up to three years in prison and fines for disciplining his son… The boy said his father gave him two ‘swats’ that ‘hurt a little’ on his rear end in June…

“One of his siblings mentioned the spanking to a teacher, who called social services, according to the report. A June 7 report from the Divine Savior Healthcare emergency department indicated that the boy had slight bruising on his buttocks, but it said there was no swelling and he was not experiencing pain. The medical paperwork said the boy told physicians he didn’t think he was abused and he loves his father. The documents show the boy’s doctor does not believe he was abused, and he called the event a ‘social services fiasco.’…

“A judge ruled Thursday that the case will head to trial. Now jurors at the Columbia County Courthouse will decide whether the spanking constituted ‘reasonable discipline’ permitted under state law. The pastor’s 21-year-old daughter… stood outside with a sign that read, ‘Thank you for spanking me dad’ as a showing of support for her father.

“District Attorney Jane Kohlwey told the Portage Daily Register the spanking was not reasonable, because it left bruising, though [the pastor’s] attorney claims photographs only reveal red marks… [The charged pastor] has been forbidden from spanking any child as part of his bond.”

Medical Scandal–About Half of U.S. Doctors Knowingly Prescribe Useless Drugs

The Associated Press and USA Today reported the following on October 24:

“About half of American doctors in a new survey say they regularly give patients placebo treatments — usually drugs or vitamins that won’t really help their condition. And many of these doctors are not honest with their patients about what they are doing, the survey found… Placebos as defined in the survey went beyond the typical sugar pill commonly used in medical studies. A placebo was any treatment that wouldn’t necessarily help the patient… Half the doctors reported using placebos several times a month…

“In some cases, placebos were given to patients with conditions such as chronic fatigue syndrome. Doctors also gave antibiotics to patients with viral bronchitis, knowing full well that a virus is impervious to antibiotics, which fight bacteria. Experts believe overuse of antibiotics promotes the development of drug-resistant strains of bacteria.”

U.S. Raid in Eastern Syria Incurs Arab Wrath

The Time wrote on October 27:

“Sunday’s surprise raid by helicopter-borne U.S. troops in eastern Syria raises at least three key questions. Given that the U.S. is saying the number of volunteer fighters infiltrating Iraq from Syria has dwindled significantly in the past 18 months, why was this action deemed necessary? Does the raid signal a shift in U.S. tactics in the region? And with just over a week before the U.S. presidential election, why now?

“In what is thought to be the first such incursion from the Iraq side since the U.S. invasion of Iraq in March 2003, at least four U.S. helicopters crossed Iraq’s western border with Syria and attacked what officials in Damascus said was a half-constructed building in Sukkariyeh Farm, 5 miles from the Syrian frontier town of Abu Qamal. Eight people were reported to have been killed in the raid. Damascus ‘condemns this aggression and holds the American forces responsible,’ said the Syrian government in a statement that went on to demand that the Iraqi government launch an investigation into ‘this serious violation.’…

“This is not the first such raid into Syrian territory in recent years. In September 2007, Israeli jets bombed a site in northeast Syria suspected of being a nuclear facility…”

AFP added on October 27:

“US forces in Iraq staged a ‘successful’ raid into Syria against foreign fighters, an American official said on Monday, as a furious Damascus accused Washington of ‘terrorist aggression.’ Among those believed killed, the official said, was Abu Ghadiya, ‘one of the most prominent foreign fighter facilitators in the region.’… It was the first confirmed US action of its kind into Syrian territory and signalled that Washington is moving to the kind of aggressive tactics against insurgent sanctuaries along Iraq’s borders that it has been using with increasing intensity in Pakistan’s tribal border areas.

“‘We consider this criminal and terrorist aggression,’ Syrian Foreign Minister Walid Muallem told a news conference in London after talks with British Foreign Secretary David Miliband. ‘Killing civilians in international law means a terrorist aggression,’ added Muallem, whose country’s official media said eight civilians were killed, including children. Asked if Syria would use force if the Americans mounted a similar operation again, he said: ‘As long as you are saying if, I tell you, if they do it again, we will defend our territories.’…

“The official press in Damascus blasted the attack as a ‘war crime’ by Bush’s administration. Damascus summoned the official US and Iraqi representatives in protest… The Arab League condemned the assault as a ‘violation which does nothing to help stability in the region and can only lead to new tensions,’ calling for those responsible to be held to account. In neighbouring Lebanon, Prime Minister… Siniora said the raid ‘constitutes a violation of Syrian sovereignty and thus is a dangerous, unacceptable attack that we condemn.'”

Der Spiegel Online reported on October 29:

“In Paris, the office of French President Nicolas Sarkozy released a statement Monday expressing ‘serious concern’ and calling for ‘the strict respect of the territorial integrity of states.’ Javiar Solana, the EU’s top foreign policy official, said that he was ‘worried’ and hoped matters would quickly return to normal. The foreign ministries of China and Russia both joined the chorus, focusing their criticism on US violation of Syrian territory… In Germany, responses to the attack have been fairly muted. Neither Chancellor Angela Merkel nor Foreign Minister Frank-Walter Steinmeier have released statements on the incident. Some German commentators take a look on Tuesday.

“Left-leaning Die Tageszeitung writes: ‘Whether the US action was a snafu or not, the question still remains: Why now? Nobody would deny that there has been a problem for years with jihadis streaming into Syria from all over the Arab world so that they can be smuggled into Iraq. But the fact is that, in the summer, it was the Americans themselves who announced to their relief that infiltrations in 2008 had already gone down by 50 percent. And the Syrians are becoming increasingly more aware of how the demons they have awoken have been turning back against them. Last month’s al-Qaida attack in Damascus, in particular, reinforced that lesson. By now, even the Syrians have become more interested in tightening up their border with Iraq. So why the current escalation? Is this the Bush administration’s way of waving goodbye to Syria?… To launch an attack on Syrian territory is also a shot across the bow of the Europeans who have been laboring for months both to strengthen ties with Syrian politicians and to encourage them to follow more constructive policies.’

“The center-left Süddeutsche Zeitung writes: ‘As tasteless as it may sound given the deaths of eight people, the US attack on Syrian territory was a political warning… The question now is: How will the Syrians react? For President Assad, the American action has to be rather humbling in that his country’s sovereign territory has been breached by the US military and, in the process, not only alleged terrorists were killed, but also innocent civilians. The fact is that Syria’s 1980s army can’t provide a military response [to] the US operation. As things stand, Assad can only swallow his pride and increase efforts to keep underground fighters away from his borders. But he could also do the opposite and ratchet up the Iraq war to a new level. If that were to happen, the American[s] will have brought about the exact opposite of what they had meant to accomplish.'”

Iran’s “Preemptive Strike” Against Israel?

On October 10, 2008, haaretz.com reported the following:

“Senior Tehran officials are recommending a preemptive strike against Israel to prevent an Israeli attack on Iran’s nuclear reactors, a senior Islamic Republic official told foreign diplomats two weeks ago in London. The official, Dr. Seyed G. Safavi, said recent threats by Israeli authorities strengthened this position, but that as of yet, a preemptive strike has not been integrated into Iranian policy…

“Safavi said a small, experienced group of officials is lobbying for a preemptive strike against Israel… Safavi said Tehran recently drafted a new policy for responding to an Israeli or American attack on its nuclear facilities. While the previous policy called for attacks against Israel and American interests in the Middle East and beyond, the new policy is to target Israel alone. He added that many Revolutionary Guard leaders want to respond to a U.S. attack on Iranian soil by striking Israel, as they believe Israel would be partner to any U.S. action.”

Middle East Peace Talks on Hold

AFP wrote on October 28:

“Israel’s political parties decided on Tuesday to hold early elections on February 10, a decision that will leave US-backed Middle East peace talks in limbo for at least three more months… Both Foreign Minister Tzipi Livni’s centrist Kadima party and the right-wing Likud party of hawkish former premier Benjamin Netanyahu, the two frontrunners for prime minister, had pressed for holding elections as soon as possible. President Shimon Peres formally initiated the election process on Monday after Livni failed to assemble a new government coalition.

“Livni, 50, was elected as Kadima leader last month and hopes to take over as prime minister from Ehud Olmert, who stepped down in September over graft allegations but remains as caretaker premier.”

Russian-Chinese Cooperation

AFP wrote on October 28:

“Russia and China on Tuesday signed a long-awaited deal to build an oil pipeline from Siberia to China after talks between Prime Minister Wen Jiabao and Russian counterpart Vladimir Putin. The leaders watched as Chinese state energy major CNPC and Russian state pipeline monopoly Transneft signed the deal to build the pipeline from the Siberian town of Skovorodino to the Chinese border. The pipeline agreed on Tuesday would have a capacity of 15 million tons of oil per year and would be a branch of the main East Siberia-Pacific Ocean trunk pipeline, which is still under construction, officials said.”

Arabs Like and Dislike Obama

The New York Post wrote on October 28:

“‘OBAMA! Inshallah!’ – Obama! Allah willing! That slogan, scribbled on walls in Gaza, indicates the hopes that Barack Obama has inspired among Arabs. While Obama has tried to push his origins into the background, his ‘Islamic roots’ have won him a place in many Arabs’ hearts. One columnist, Mohamed Al-Menshawi, hails Obama as ‘the candidate with Muslim roots’ and as the ‘harbinger of solidarity between Americans and the Muslim world.’

“Another, Al-Jazeera’s Aala al-Bayoumi, notes: ‘Had it not been for Obama, Arabs would not even bother to follow the US presidential race.’ What makes the difference is Obama’s ‘Islamic and African roots.’…

“While radical Arabs, including the Hamas leadership, favor Obama, most Arab officials are wary of him. They fear his inexperience and leftist connections might destroy all that has been gained in Iraq, provoke a bigger mess in Afghanistan, trigger a war with Pakistan and open the way for Khomeinist hegemony in the region…

“Obama… has retained his Arabic-Islamic names. (Barack means ‘blessed’ and Hussein means ‘beautiful.’) His family name is Swahili, an East African lingua franca based on Arabic. Arab commentators note that his siblings also all have Arabic Muslim names. His sister is called Oumah, Arabic for ‘the community of the faithful’ [and] his older daughter, Malia, bears the name of a daughter of the Caliph Othman, who commissioned the compilation of the first edition of the Koran. That Obama’s stepfather was also a Muslim (from Indonesia) strengthens the empathy that many Arabs feel for him…

“Arabs welcomed and widely commented on Colin Powell’s assertion that, even if Obama were a Muslim, it should not be held against him… Not all Arab commentators are struck by Obamania, however. His flip-flops on issues – including the future of Jerusalem, withdrawal from Iraq and dealing with the Iranian nuclear threat – have prompted some to counsel caution.

“Tareq Al-Houmayed, editor of the daily Asharq Alawsat, warns Arabs not to expect too much: ‘Every American president would be governed by American interests…’ Abdulrahman al-Rashed, a Saudi commentator, also notes that no president can radically alter US global policies. He advises Arabs to neither have exaggerated hopes nor be dispirited when Obama tells the Israelis ‘more than they hoped to hear’ to win Jewish support.”

Obama and McCain — “Become Honest”…

The German daily, Rhein Neckar Zeitung, wrote on October 11/12, 2008:

“Obama and McCain continue to build more air castles… An almost impossible task waits for the victor of the presidential elections… And still, both candidates insist on maintaining plans that would cost tax payers trillions of dollars… Critics ask the candidates to become honest… The question for the next president is how quickly hopes of the voters will change into disappointment…”

The Associated Press wrote on October 28:

“Democrat Barack Obama’s ‘closing argument’ speech Monday included a sweeping accusation against GOP rival John McCain: ‘Senator McCain still has not been able to tell the American people a single major thing he’d do differently from George Bush when it comes to the economy.’ But the charge is debatable — McCain has several ideas that are different than Bush’s policy, which he touched on as recently as a Sunday interview on NBC’s ‘Meet the Press’… The Obama campaign says the key word of Obama’s statement is ‘major,’ and the differences that McCain points to are minor details…”

On October 30, The New York Post wrote:

“Two leading infomercial stars agree: Barack Obama’s half-hour self-promotion last night was a flop. ‘I don’t see enough smiling. Doom and gloom totally,’ said Anthony Sullivan, one of the biggest names in infomercial history… He and AJ Khubani, who has produced infomercials for 25 years, said Obama also fell short of offering solutions to the dire problems he laid out… ‘We always spend much more time on the solution than the problem and he did the opposite,’ Khubani added.”

The Associated Press reported on October 28:

“A week from the presidential election, Republican John McCain is persisting in exaggerating and misrepresenting rival Barack Obama’s tax and health-care plans… McCain’s central claim — that people will be ‘forced’ into a new government-run [health-care] plan under an Obama presidency — is not true. In fact, Obama broke with many Democrats and others who advocate universal coverage when he announced his plan would be mandatory only for children, and voluntary for everyone else…”

Human-Animal Hybrids in the Making

AFP reported on October 23 about the following despicable developments in England:

“The lower house of parliament approved legislation Wednesday allowing scientists to create animal-human embryos for medical research, in the biggest shake-up of embryology laws in two decades… MPs in the House of Commons backed the Human Embryology and Fertilisation Bill by 355 votes to 129. It will now go to a vote in the House of Lords, and could be law by November.
 
“The wide-ranging bill… [also] gives lesbians and single women easier access to in-vitro fertilisation (IVF) treatment by removing requirements for clinics to consider a child’s need for a father… Hybrid embryos [are] created by inserting the nuclei of a human cell into an animal egg…”

How the Abominable PAGAN Custom of Halloween Overtook Germany

Der Spiegel Online wrote on October 30:

“In the mid-1990s, few in Germany had ever heard of Halloween, and even fewer celebrated it. Now, it’s a €150 million a year industry… Most in Germany have never heard of Dieter Tschorn… but if one is looking for an explanation as to why millions of… Germans will be carving pumpkins, putting on costumes and begging for candy door-to-door, Tschorn is a good place to start. After all, more than anyone else, he is responsible for Halloween’s existence — and growing popularity — in Germany…

“Tschorn is a public relations consultant who went into business for himself in 1982. More to the point, however, he is also the spokesman for a division in Germany’s toy-making industry association responsible for Carnival, that annual season of costumed mayhem that culminates 40 days before Easter.

“Back in the early 1990s, Carnival was cancelled in Germany as a result of the first Gulf War — and those who make their living selling costumes and party supplies took a major hit. But the industry also had another important design flaw. Whereas the Carnival season always begins on Nov. 11, the timing of Easter can vary widely. Last year, for example, Easter fell on March 23, making the Carnival season just 87 days long, the shortest it had been since 1913.

“‘The shorter Carnival is, the lower our turnover — each week less represents a 5-percent drop in sales,’ Tschorn said. ‘We needed some consistency, which led to the idea to introduce Halloween in Germany.’

“It seems to have worked. In 2007, 4,600 tons of pumpkins were sold in Germany, says Tschorn. One can buy Halloween bread at the baker’s, Halloween sausage at the butcher’s, Halloween cocktails at the bar and, of course, Halloween candy in the nation’s supermarkets. Tens of thousands of German children now go door-to-door, holding out their bags and saying ‘sweet or sour,’ the German version of trick-or-treat.

“The Halloween promoter says that the holiday has become an industry worth around €160 million in Germany, in third place behind Christmas and Easter. In 1994, that number was close to zero. This year, the costume industry expects Halloween-related consumption to be 5 percent more than last year. ‘By the end of 1998, Halloween had become something of a cult,’ Tschorn said…

“Nevertheless, many in Germany aren’t nearly as excited as Tschorn is about the place Halloween has managed to carve out for itself in the country’s social calendar. The Evangelical Church is particularly irked that October 31st, the day on which Martin Luther launched the Reformation, is now more associated with a PAGAN HOLIDAY imported from Ireland via America than for Germany’s own contribution to religious history.”

For more information on Halloween, please read our free booklet, “Is That in the Bible?–Man’s Holidays and God’s Holy Days.

Now…Global Bailouts Needed!

A relentless stream of devastating financial news from all over the globe highlights the repercussions of what first began in the US. The Christian Science Monitor reported the following on October 7, 2008:
 
“Battered by successive shocks, the world economy may be slipping into multicontinent recession.

“First, the housing bubble burst in the US and some European nations. Then soaring commodity prices hit countries around the world, especially poor food-importers. Now the bank turmoil wrought by the real estate downturn is spreading beyond Wall Street to other financial capitals.

“Ireland, Denmark, and France have declared a recession. Germany and Britain are teetering. Even the hot economies of India and China may suffer slowing growth.

“‘At this point it is a very fragile situation,’ says Eswar Prasad, an international economics professor at Cornell University and a fellow at the Brookings Institution in Washington. ‘There is a crisis of confidence more than anything else.'”

Pakistan Nears Bankruptcy

On October 6, 2008, the Telegraph.co.uk featured this somber financial report about the very politically unstable nation of Pakistan:
 
“Pakistan’s foreign exchange reserves are so low that the country can only afford one month of imports and faces possible bankruptcy.”
 
The article also points out the dire impact this may have on its relationship with the US:
 
“The government is engulfed by crises left behind by Pervez Musharraf, the military ruler who resigned the presidency in August. High oil prices have combined with endemic corruption and mismanagement to inflict huge damage on the economy.

“Given the country’s standing as a frontline state in the US-led ‘war on terrorism’, the economic crisis has profound consequences. Pakistan already faces worsening security as the army clashes with militants in the lawless Tribal Areas on the north-west frontier with Afghanistan.”

Iceland’s Economy Collapses

Bloomberg.com reported on October 9:

“Iceland’s government seized control of Kaupthing Bank hf, the nation’s biggest bank, completing the takeover of a banking industry that has collapsed under the weight of its foreign debt…

“The banks are saddled with about $61 billion of debt, 12 times the size of the economy, according to data compiled by Bloomberg. The government is seeking a loan from Russia and may ask for aid from the International Monetary Fund to help guarantee deposits. The central bank ditched an attempt to fix the krona yesterday as the currency went into freefall.

“‘This looks like a total collapse,’ said Thomas Haugaard Jensen, an economist at Svenska Handelsbanken AB in Copenhagen. ‘It’ll take several years before the economy can start to return to growth.'”

The article continues with this shocking assessment:

“The debts of the Icelandic banking system are too big for the government to repay.

“‘There is no way that the Icelandic population can assume responsibility for the private debt’ that the banks have built up, [Prime Minister] Haarde said yesterday.”

European Nations Not United In Moment Of Crisis

CNN.com reported this week on the reaction of governments across Europe to the global financial meltdown:

“While Europe’s four largest economies pledged to coordinate national responses to help banks in distress, their failure to agree an EU-wide plan showcased the divisions in Europe on how to deal with the crisis.”

Reporting on Europe’s frenzied attempts at coordinating a response to the financial crisis, The New York Times (10/4/2008) stated:

“After days of squabbling, the leaders of Europe’s largest economies vowed Saturday to work together to stop a growing financial panic, but they failed to offer a systemwide answer to a credit crisis that has forced them to bail out several banks in just the past week.”

The Times article continued:

“Sharply criticizing what they said were the American roots of what has become a global credit crisis, Europe’s leaders insisted it was time for the European Union to act decisively.

“We are fully aware of the responsibility that weighs on our shoulders,” said President Nicolas Sarkozy of France, who hosted the gathering at the sumptuous Élysée Palace here.

“The crisis has become the biggest financial challenge for European policymakers since the introduction of the euro as a Continent-wide currency in 1999.”

The Timesonline (10/6/2008) recounted the the failed attempt on the part of France to face the growing financial crisis in a unified stance:

“President Sarkozy’s ambition of leading a united Europe through the global financial turmoil appeared to have sunk last night as Angela Merkel moved to guarantee German savings.

“The German Chancellor’s initiative may have torpedoed Mr Sarkozy’s aim of ensuring coordinated action on crisis-hit banks in the European Union. It came less than 24 hours after the French president had summoned Gordon Brown, Mrs Merkel and Silvio Berlusconi, the Italian Prime Minister, to a summit in Paris designed to devise a EU strategy in the face of the upheaval. The move irritated EU leaders who were not invited, such as José Luis Zapatero, the Spanish Prime Minister.

“Critics said that the snub would complicate the already difficult task of producing a single EU policy on the crisis. The obstacles were underlined in the final document from the Paris meeting, which contained vague commitments from Europe’s biggest economies to work together. There were few hard decisions other than the establishment of a £25 billion fund to support small business unable to secure loans from their banks in the credit crunch.

“A plan floated by France and the Netherlands for a €300 billion bank rescue fund had been blocked by Britain and Germany even before the meeting had started. Mrs Merkel was always reticent to adopt the French approach of solidarité, which she saw as a roundabout way of asking Germany to finance rescue packages in other countries.

“Her go-it-alone deposit guarantee measure – which came after she criticised the Irish Republic for doing almost the same thing – blew another hole in Mr Sarkozy’s dream. He had seen the crisis as a chance to impose France’s vision of a federal Europe and a regulated economy.”
 
Europe’s fragmented approach has not been reassuring. Shocking steps are being taken to secure the financial stability of banks and investment firms–with the outcome moving Europe’s powerful core nations to take steps toward the nationalization of their economies. What lies ahead for the European Union is graphically described in our free booklet, “Europe In Prophecy.”

Pope Challenges Godlessness and Bible Understanding

An AP article appeared in Yahoo! News on October 5, 2008, reporting on a meeting of bishops during which the Pope made critical remarks about the role of religion:
 
“Pope Benedict XVI warned Sunday that modern culture is pushing God out of people’s lives, causing nations once rich in religious faith to lose their identities”
 
Continuing… “‘Today, nations once rich in faith and vocations are losing their own identity, under the harmful and destructive influence of a certain modern culture,’ said Benedict, who has been pushing for religion to be given more room in society.”
 
The article also had the following significant statements:
 
“A document prepared for the meeting rejects a fundamentalist approach to the Bible and said a key challenge was to clarify for the faithful the relationship of scripture to science. A rabbi will address the conference on Monday in what is believed to be the first time a Jew has participated in such a meeting.”
 
Concerning the address by a rabbi, Inquirer.net (10/04/2008) quoted Shear-Yashuv Cohen, Grand Rabbi of Haifa, Israel:

“Cohen told the Washington-based Catholic News Service in Jerusalem that his invitation was a ‘signal of hope (bringing) a message of love, coexistence, and peace for generations.'”

The article continued…

“He was due to speak on the Jewish interpretation of the Bible, whose first five books comprise the Torah, Judaism’s most holy sacred writings.

“Benedict has continued the conciliatory steps taken by his predecessor, Polish-born John Paul II, to improve inter-faith relations, but has sometimes stumbled.

“Most recently he allowed the reintroduction of a controversial Good Friday prayer calling for the conversion of Jews.

“However in April the German-born pontiff won some Jewish hearts and minds when he became the first leader of the Roman Catholic Church to visit a synagogue in the United States.”
 
An article appearing in the Houston Chronicle on October 3, 2008, adds some detail to the Catholic view of the Bible and its use:
 
“Of equal concern to the bishops is how Catholics understand Scripture when and if they read it. The synod’s official agenda notes the increasing popularity of ‘fundamentalism,’ which it says ‘takes refuge in literalism and refuses to take into consideration the historical dimension of biblical revelation.’

“Earlier this month, Benedict himself stated that a proper understanding of the Bible ‘excludes by its nature everything that today is known as fundamentalism” and insisted that the “word of God can never simply be equated with the letter of the text.’

“As they reaffirm the church’s teaching authority, or magisterium, the bishops will also discuss the compatibility of Catholic doctrine with modern methods of interpretation that Catholic scholars have increasingly adopted since Vatican II.”

The article also cited the following:

“Catholics over the age of 50 are old enough to remember when the church discouraged nonclergy from acquainting themselves with Scripture, apart from selections quoted in their catechisms or read aloud at Mass. But that traditional attitude has shifted amid the many dramatic changes in Catholicism that began in the 1960s.”