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Did you know that there is more than $28,000 of debt for every man, woman and child on the entire planet?  And since close to 3 billion of those people survive on less than 2 dollars a day, your share of that debt is going to be much larger than that.  If we took everything that the global economy produced this year and everything that the global economy produced next year and used it to pay all of this debt, it still would not be enough.  According to a recent report put out by the McKinsey Global Institute entitled “Debt and (not much) deleveraging“, the total amount of debt on our planet has grown from 142 trillion dollars at the end of 2007 to 199 trillion dollars today.  This is the largest mountain of debt in the history of the world, and those numbers mean that we are in substantially worse condition than we were just prior to the last financial crisis.

When it comes to debt, a lot of fingers get pointed at the United States, and rightly so.  Just prior to the last recession, the U.S. national debt was sitting at about 9 trillion dollars.  Today, it has crossed the 18 trillion dollar mark.  But of course the U.S. is not the only one that is guilty.  In fact, the McKinsey Global Institute says that debt levels have grown in all major economies since 2007.  The following is an excerpt from the report… Seven years after the bursting of a global credit bubble resulted in the worst financial crisis since the Great Depression, debt continues to grow. In fact, rather than reducing indebtedness, or deleveraging, all major economies today have higher levels of borrowing relative to GDP than they did in 2007. Global debt in these years has grown by $57 trillion, raising the ratio of debt to GDP by 17 percentage points (Exhibit 1). That poses new risks to financial stability and may undermine global economic growth. What is surprising is that debt has actually grown the most in China.  If you can believe it, total Chinese debt has grown from 7 trillion dollars in 2007 to 28 trillion dollars today.  Needless to say, that is absolutely insane…

What all of this means is that our long-term global economic problems have gotten much, much worse.  This short-lived period of relative stability that we have been enjoying has been fueled by unprecedented amounts of debt and voracious money printing.  Anyone with half a brain should be able to see that this is a giant financial bubble, and in the end it is going to unwind very, very painfully.  The following comes from a Canadian news source… At the beginning of 2008, government accounted for a smaller portion of the debt pie than corporate, household or financial debt. It now exceeds each of those other categories. “The current situation is much worse than in 2000 or 2007, and with interest rates near or at zero, the central banks have already used up their ammunition. Plus, the total indebtedness, especially the indebtedness of governments, is much higher than ever before,” said Claus Vogt, a Berlin-based analyst and co-author of a 2011 book titled The Global Debt Trap.

A Washington state police department just south of Seattle has for years been quietly using controversial surveillance equipment that can collect records of all cellphone calls, text messages and data transfers within a half-mile radius, according to local media. The Stingray surveillance system, deployed by the Tacoma Police Department since 2009, “tricks cellphones into thinking it’s a cell tower and draws in their information,” local news website The Olympian reported Wednesday. The device is reportedly capable of indiscriminate data collection, which worries civil rights advocates. The American Civil Liberties Union (ACLU) said it has identified at least 43 police departments in 18 states that use Stingray equipment. The rights group said on its website that police use of such a device may violate the U.S. Constitution's Fourth Amendment, and with taxpayers’ money.

"The result is that police gather the electronic serial numbers and other information about phones, as well as the direction and strength of each phone's signal, allowing precise location tracking,” the ACLU said. “Stingrays can also gather information about people's communications, such as which phone numbers they call. Because we carry our cellphones with us virtually everywhere we go, Stingrays can paint a precise picture of where we are and who we spend time with, including our location in a lover's house, in a psychologist's office or at a political protest." Tacoma Police Department’s Assistant Police Chief Kathy McAlpine said that officers only use Stingray with permission from a judge, and that they do not collect data. “It is used in felony-level crimes to locate suspects wanted for crimes such as homicide, rape, robbery, kidnapping, and narcotics trafficking,” McAlpine said. The department said the device has been used nearly 200 times since June.

The Tacoma City Council approved buying an updated version of the equipment in March 2013 on the grounds that it would be used to find improvised explosive devices. McAlpine said they have never used the Stingray to locate such a device. Civil rights groups said they are concerned about the possibility of indiscriminate data collection, and worry that police could store the data of innocent citizens. “They are essentially searching the homes of innocent Americans to find one phone used by one person,” said Christopher Soghoian, principal technologist with the ACLU in Washington, D.C. “It’s like they’re kicking down the doors of 50 homes and searching 50 homes because they don’t know where the bad guy is.” A similar controversy erupted in nearby Seattle last November, when  alternative news website The Stranger reported that a new apparatus capable of geo-locating and tracking the movement of any wireless device that passes it was quietly installed in a Seattle neighborhood.

A disturbing trend in the water sector is accelerating worldwide. The new “water barons” --- the Wall Street banks and elitist multibillionaires --- are buying up water all over the world at unprecedented pace. Familiar mega-banks and investing powerhouses such as Goldman Sachs, JP Morgan Chase, Citigroup, UBS, Deutsche Bank, Credit Suisse, Macquarie Bank, Barclays Bank, the Blackstone Group, Allianz, and HSBC Bank, among others, are consolidating their control over water. Wealthy tycoons such as T. Boone Pickens, former President George H.W. Bush and his family, Hong Kong’s Li Ka-shing, Philippines’ Manuel V. Pangilinan and other Filipino billionaires, and others are also buying thousands of acres of land with aquifers, lakes, water rights, water utilities, and shares in water engineering and technology companies all over the world. The second disturbing trend is that while the new water barons are buying up water all over the world, governments are moving fast to limit citizens’ ability to become water self-sufficient (as evidenced by the well-publicized Gary Harrington’s case in Oregon, in which the state criminalized the collection of rainwater in three ponds located on his private land, by convicting him on nine counts and sentencing him for 30 days in jail). Let’s put this criminalization in perspective:

Billionaire T. Boone Pickens owned more water rights than any other individuals in America, with rights over enough of the Ogallala Aquifer to drain approximately 200,000 acre-feet (or 65 billion gallons of water) a year. But ordinary citizen Gary Harrington cannot collect rainwater runoff on 170 acres of his private land. It’s a strange New World Order in which multibillionaires and elitist banks can own aquifers and lakes, but ordinary citizens cannot even collect rainwater and snow runoff in their own backyards and private lands.

In 2008, Goldman Sachs called water “the petroleum for the next century” and those investors who know how to play the infrastructure boom will reap huge rewards, during its annual “Top Five Risks” conference. Water is a U.S.$425 billion industry, and a calamitous water shortage could be a more serious threat to humanity in the 21st century than food and energy shortages, according to Goldman Sachs’s conference panel. Goldman Sachs has convened numerous conferences and also published lengthy, insightful analyses of water and other critical sectors (food, energy). Goldman Sachs is positioning itself to gobble up water utilities, water engineering companies, and water resources worldwide. Since 2006, Goldman Sachs has become one of the largest infrastructure investment fund managers and has amassed a $10 billion capital for infrastructure, including water.

The United States government has already declared that in regards to what it alleges to be a Russian cyberattack against the U.S. Democratic Party, the U.S. reserves the right to go to war against Russia. NATO has accordingly changed its policy so as to assert that a cyberattack (in this case actually cyber-espionage, such as the U.S. government itself perpetrates against even its own allies such as Angela Merkel by tapping her phone) constitutes an act of war by the alleged cyberattacker, and so requires all NATO member nations to join any cyberattacked NATO nation in war against its alleged (cyber)attacker, if the cyberattacked member declares war against its alleged cyberattacker. Excuses are being sought for a war against Russia; and expanding the definition of “invasion,” to include mere espionage, is one such excuse. But it’s not the only one that the Obama Administration has cooked up. U.S. Senator Mike Lee has asserted that President Barack Obama must obtain a declaration of war against Syria — which is allied with and defended by Russia — before invading Syria. Syria has, for the past few years, already been invaded by tens of thousands of foreign jihadists (financed mainly by the royal Sauds and Qataris, and armed mainly with U.S. weaponry) who are trying to overthrow and replace the Syrian government so that pipelines can be built through Syria into Europe to transport Saudi oil and Qatari gas into the EU, the world’s biggest energy-market, which now is dominated by Russia’s oil and gas. Since Syria is already being defended by Russia (those royals’ major competitor in the oil and gas markets), America’s invasion of Syria would necessarily place U.S. and Russia into an air-war against each other (for the benefit of those royal Arabs — who finance jihadist groups, as even Hillary Clinton acknowledges): Syria would thus become a battleground in a broader war against Russia. So: declaring war against Syria would be a second excuse for World War III, and one which would especially serve the desires not only of U.S. ‘defense’ firms but of the U.S. aristocracy’s royal Arabic allies, who buy much of those ‘defense’ firms’ exports (weaponry), and also U.S. oilfield services firms such as pipelines by Halliburton. (It’s good business for them, no one else. Taxpayers and war-victims pay, but those corporations — and royal families — would profit.)

The U.S. government also declares that Russia ‘conquered’ Crimea in 2014 and that Russia must restore it to Ukraine. The U.S. government wants Ukraine to be accepted into NATO, so that all NATO nations will be at war against Russia if Russia doesn’t return Crimea to Ukraine, of which Crimea had only briefly (1954-2014) been a part, until Crimeans voted on 16 March 2014 to rejoin Russia. This Crimean issue is already the basis for America’s economic sanctions against Russia, and thus Russia’s continuing refusal to coerce Crimeans to accept again being part of Ukraine would be yet a third excuse for WW III.

Hillary Clinton says “As President, I will make it clear, that the United States will treat cyber attacks just like any other attack.” She alleges that when information was unauthorizedly made public from Democratic National Committee computers, the cyberattacker was Russia. She can be counted as a strong proponent of that excuse for WW3. She’s with Barack Obama and the other neocons on that. She has furthermore said that the U.S. should shoot down any Russian and Syrian bombers in Syria — the phrase for that proposed U.S. policy is to “establish a no-fly zone” there. She makes clear: “I am advocating the no-fly zone.” It would be war against not only Syria, but Russia. (After all: a no-fly zone in which the U.S. is shooting down the government’s planes and Russia’s planes, would be war by the U.S. against both Syria and Russia, but that’s what she wants to do.) She can thus be counted as a strong proponent of those two excuses for WW3.

Western policymakers and commentators wrongly assume that sanctions will force Iranian concessions in nuclear talks that resume this week in Kazakhstan - or perhaps even undermine the Islamic Republic's basic stability in advance of the next Iranian presidential election in June.  Besides exaggerating sanctions' impact on Iranian attitudes and decision-making, this argument ignores potentially fatal flaws in the US-led sanctions regime itself - flaws highlighted by ongoing developments in Europe and Asia, and that are likely to prompt the erosion, if not outright collapse of America's sanctions policy.       Virtually since the 1979 Iranian revolution, US administrations have imposed unilateral sanctions against the Islamic Republic. These measures, though, have not significantly damaged Iran's economy and have certainly not changed Iranian policies Washington doesn't like. 

Secondary sanctions are a legal and political house of cards. They almost certainly violate American commitments under the World Trade Organisation, which allows members to cut trade with states they deem national security threats but not to sanction other members over lawful business conducted in third countries. If challenged on the issue in the WTO's Dispute Resolution Mechanism, Washington would surely lose.  

Last year, the European Union - which for years had condemned America's prospective "extraterritorial" application of national trade law and warned it would go to the WTO's Dispute Resolution Mechanism if Washington ever sanctioned European firms over Iran-related business - finally subordinated its Iran policy to American preferences, banning Iranian oil and imposing close to a comprehensive economic embargo against the Islamic Republic.   In recent weeks, however, Europe's General Court overturned European sanctions against two of Iran's biggest banks, ruling that the EU never substantiated its claims that the banks provided "financial services for entities procuring on behalf of Iran's nuclear and ballistic missile programmes". 

hree quarters of highly educated, high income, publicly active US Democrats — the so-called “opinion elites” — believe Israel has too much influence on US foreign policy, almost half of them consider Israel to be a racist country, and fewer than half of them believe that Israel wants peace with its neighbors. These are among the findings of a new survey carried out by US political consultant Frank Luntz

Detailing the survey results to The Times of Israel on Sunday, Luntz called the findings “a disaster” for Israel. He summed them up by saying that the Democratic opinion elites are converting to the Palestinians, and “Israel can no longer claim to have the bipartisan support of America.” He said he “knew there was a shift” in attitudes to Israel among US Democrats “and I have been seeing it get worse” in his ongoing polls. But the new findings surprised and shocked him, nonetheless. “I didn’t expect it to become this blatant and this deep.” A prominent US political consultant known best for his work with Republicans, Luntz is meeting with a series of high-level Israeli officials this week to discuss the survey and consult on how to grapple with the trends it exposes.

“Israel has won the hearts and minds of Republicans in America, while at the same time it is losing the Democrats,” he said. On US politics, “I’m right of center,” he added. “But the Israeli government and US Jews have to focus on repairing relations with the Democrats.” Luntz put a series of largely Israel-related questions to 802 members of the opinion elites and his findings have a 3.5% margin of error. The survey, sponsored by the Jewish National Fund, was conducted last week. Among the key findings: • Asked about Israeli influence on US foreign policy, an overwhelming 76% of Democrats, as compared to 20% of Republicans, said Israel has “too much influence.” • Asked whether Israel is a racist country, 47% of Democrats agreed it is, as opposed to 13% of Republicans. Another 21% of Democrats didn’t know or were neutral (as opposed to 12% of Republicans), and only 32% of Democrats disagreed when asked if Israel is a racist country, as opposed to 76% of Republicans. (Overall 32% of those polled said Israel is a racist country.)

The United Nations has named 2012 as the International Year of Cooperatives, and indeed, co-ops seem poised to become a dominant business model around the world. Today, nearly one billion people worldwide are cooperative member-owners. That’s one in five adults over 15

Most co-ops also follow the Seven Cooperative Principles, a unique set of guidelines that help maintain their member-driven nature.

In fact, the United States is full of co-ops — around 30,000 of them with nearly 900,000 members. Thirty percent of Americans belong to cooperatively-owned credit unions, the largest of which serves 3.4 million Department of Defense employees and has $45 billion in assets. In 2004, the ten largest co-ops in America earned over $12 billion in revenues

All attempts to reform mass incarceration through the traditional mechanisms of electoral politics, the courts and state and federal legislatures are useless. Corporations, which have turned mass incarceration into a huge revenue stream and which have unchecked political and economic power, have no intention of diminishing their profits. And in a system where money has replaced the vote, where corporate lobbyists write legislation and the laws, where chronic unemployment and underemployment, along with inadequate public transportation, sever people in marginal communities from jobs, and where the courts are a wholly owned subsidiary of the corporate state, this demands a sustained, nationwide revolt. “Organizing boycotts, work stoppages inside prisons and the refusal by prisoners and their families to pay into the accounts of phone companies and commissary companies is the only weapon we have left,” said Amos Caley, who runs the Interfaith Prison Coalition, a group formed by prisoners, the formerly incarcerated, their families and religious leaders.

These boycotts, they said, will be directed against the private phone, money transfer and commissary companies, and against the dozens of corporations that exploit prison labor. The boycotts will target food and merchandise vendors, construction companies, laundry services, uniforms companies, prison equipment vendors, cafeteria services, manufacturers of pepper spray, body armor and the array of medieval instruments used for the physical control of prisoners, and a host of other contractors that profit from mass incarceration. The movement will also call on institutions, especially churches and universities, to divest from corporations that use prison labor. The campaign, led by the Interfaith Prison Coalition, will include a call to pay all prisoners at least the prevailing minimum wage of the state in which they are held. (New Jersey’s minimum wage is $8.38 an hour.) Wages inside prisons have remained stagnant and in real terms have declined over the past three decades. A prisoner in New Jersey makes, on average, $1.20 for eight hours of work, or about $28 a month. Those incarcerated in for-profit prisons earn as little as 17 cents an hour. Over a similar period, phone and commissary corporations have increased fees and charges often by more than 100 percent. There are nearly 40 states that allow private corporations to exploit prison labor. And prison administrators throughout the country are lobbying corporations that have sweatshops overseas, trying to lure them into the prisons with guarantees of even cheaper labor and a total absence of organizing or coordinated protest.

Corporations currently exploiting prison labor include Abbott Laboratories, AT&T, AutoZone, Bank of America, Bayer, Berkshire Hathaway, Cargill, Caterpillar, Chevron, the former Chrysler Group, Costco Wholesale, John Deere, Eddie Bauer, Eli Lilly, ExxonMobil, Fruit of the Loom, GEICO, GlaxoSmithKline, Glaxo Wellcome, Hoffmann-La Roche, International Paper, JanSport, Johnson & Johnson, Kmart, Koch Industries, Mary Kay, McDonald’s, Merck, Microsoft, Motorola, Nintendo, Pfizer, Procter & Gamble, Quaker Oats, Sarah Lee, Sears, Shell, Sprint, Starbucks, State Farm Insurance, United Airlines, UPS, Verizon, Victoria’s Secret, Wal-Mart and Wendy’s.

One very large financial institution that appears to be in serious trouble with these financial weapons of mass destruction is Glencore.  At one time Glencore was considered to be the 10th largest company on the entire planet, but now it appears to be coming apart at the seams, and a great deal of their trouble seems to be tied to derivatives.  The following comes from Zero Hedge… Of particular concern, they said, was Glencore’s use of financial instruments such as derivatives to hedge its trading of physical goods against price swings. The company had $9.8 billion in gross derivatives in June 2015, down from $19 billion in such positions at the end of 2014, causing investors to query the company about the swing. Glencore told investors the number went down so drastically because of changes in market volatility this year, according to people briefed by Glencore. When prices vary significantly, it can increase the value of hedging positions. Last year, there were extreme price moves, particularly in the crude-oil market, which slid from about $114 a barrel in June to less than $60 a barrel by the end of December.

Like most lefty journalists, I assumed that George Bush and Tony Blair invaded Iraq to buy up its oil fields, cheap and at gun-point, and cart off the oil. We thought we knew the neo-cons true casus belli: Blood for oil. But the truth in the Options for Iraqi Oil Industry was worse than "Blood for Oil". Much, much worse.

Within days, our chief of investigations, Ms Badpenny, delivered to my shack in the woods outside New York a 323-page, three-volume programme for Iraq's oil crafted by George Bush's State Department and petroleum insiders meeting secretly in Houston, Texas. I cracked open the pile of paper – and I was blown away.

I'd already had in my hands a 101-page document, another State Department secret scheme, first uncovered by Wall Street Journal reporter Neil King, that called for the privatisation, the complete sell-off of every single government-owned asset and industry. And in case anyone missed the point, the sales would include every derrick, pipe and barrel of oil, or, as the document put it, "especially the oil". That plan was created by a gaggle of corporate lobbyists and neo-cons working for the Heritage Foundation. In 2004, the plan's authenticity was confirmed by Washington power player Grover Norquist. (It's hard to erase the ill memory of Grover excitedly waving around his soft little hands as he boasted about turning Iraq into a free-market Disneyland, recreating Chile in Mesopotamia, complete with the Pinochet-style dictatorship necessary to lock up the assets – while behind Norquist, Richard Nixon snarled at me from a gargantuan portrait.) The neo-con idea was to break up and sell off Iraq's oil fields, ramp up production, flood the world oil market – and thereby smash OPEC and with it, the political dominance of Saudi Arabia.

Brazil plans to divorce itself from the U.S.-centric Internet over Washington’s widespread online spying, a move that many experts fear will be a potentially dangerous first step toward fracturing a global network built with minimal interference by governments. President Dilma Rousseff ordered a series of measures aimed at greater Brazilian online independence and security following revelations that the U.S. National Security Agency intercepted her communications, hacked into the state-owned Petrobras oil company’s network and spied on Brazilians who entrusted their personal data to U.S. tech companies such as Facebook and Google. The leader is so angered by the espionage that on Tuesday she postponed next month’s scheduled trip to Washington, where she was to be honored with a state dinner. Internet security and policy experts say the Brazilian government’s reaction to information leaked by former NSA contractor Edward Snowden is understandable, but warn it could set the Internet on a course of Balkanization.

“The global backlash is only beginning and will get far more severe in coming months,” said Sascha Meinrath, director of the Open Technology Institute at the Washington-based New America Foundation think tank. “This notion of national privacy sovereignty is going to be an increasingly salient issue around the globe.” While Brazil isn’t proposing to bar its citizens from U.S.-based Web services, it wants their data to be stored locally as the nation assumes greater control over Brazilians’ Internet use to protect them from NSA snooping. The danger of mandating that kind of geographic isolation, Meinrath said, is that it could render inoperable popular software applications and services and endanger the Internet’s open, interconnected structure.

The effort by Latin America’s biggest economy to digitally isolate itself from U.S. spying not only could be costly and difficult, it could encourage repressive governments to seek greater technical control over the Internet to crush free expression at home, experts say. In December, countries advocating greater “cyber-sovereignty” pushed for such control at an International Telecommunications Union meeting in Dubai, with Western democracies led by the United States and the European Union in opposition.