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"Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly. But this time around that is not the case. The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover. The problem is debt. Collectively, the U.S. government, the state governments, corporate America and American consumers have accumulated the biggest mountain of debt in the history of the world. Our massive debt binge has financed our tremendous growth and prosperity over the last couple of decades, but now the day of reckoning is here. And it is going to be painful. The following are 20 reasons why the U.S. economy is dying and is simply not going to recover.... #1) Do you remember that massive wave of subprime mortgages that defaulted in 2007 and 2008 and caused the biggest financial crisis since the Great Depression? Well, the "second wave" of mortgage defaults in on the way and there is simply no way that we are going to be able to avoid it. A huge mountain of mortgages is going to reset starting in 2010, and once those mortgage payments go up there are once again going to be millons of people who simply cannot pay their mortgages. The chart below reveals just how bad the second wave of adjustable rate mortgages is likely to be over the next several years...."

"LAS VEGAS - At the International Consumer Electronics Show last week, 3-D television, electronic readers and little laptops captured much of the attention. There were plenty of other interesting ideas on display, too, from 3-D printing to a wireless cell phone tether. Here are some of the gadgets most worth keeping an eye out for this year, and some that best deserve an arched eyebrow of amusement: TV on the iPhone - Qualcomm Inc.'s FLO TV service has been limited by the fact that only a few AT&T Inc. and Verizon Wireless cell phones can receive the signals, which carry about 15 news, sports and entertainment channels. Now, Qualcomm has teamed up with phone accessories maker Mophie to create an external battery pack for the iPhone that doubles as a FLO TV receiver. It's expected in the first half of the year. No price for the pack was announced; FLO TV service costs $15 per month. Separately, TV stations are also rolling out their own broadcasts for mobile devices. Another device at the show, the Tivit, is designed to take those signals and send them to an iPhone or BlackBerry over Wi-Fi. It should be available this spring for about $120, and the broadcasts are free. Game-controller glove - Iron Will Innovations demonstrated a futuristic-looking black-and-silver glove that replaces a keyboard and lets users control games by touching their fingers together instead. Called the Peregrine, the glove includes five sensors on each finger that replace different keystrokes when touched to the glove's thumb. The glove and plugs into a computer's USB port. The Peregrine should be in stores for $150 by the summer, though the company is taking pre-orders online for $20 less."

"The raids carried out by at least 10 gunmen, including suicide bombers, were well coordinated and bold even for Afghanistan and paralyzed the capital for several hours. However, while the militants spread out across a strategic area near government ministries and a luxury hotel, they failed to seize any of their declared targets and instead holed up in a poorly defended shopping center. "They just want to show their power, it was an 'attack show' from the Taliban, not a military-based action. I think there was not a military goal," said Wahid Mudjah, a Kabul-based writer and political analyst. "They just wanted a show for the international community." The attacks were perfectly timed. They came as Afghan President Hamid Karzai was swearing in cabinet members inside the presidential palace only hundreds of meters away, and after days of media chatter about a new "reintegration" drive to lure insurgents away from the battlefield. They were also dramatic, with an exploding ambulance adding to compelling images of a city under siege. Gunfire and loud explosions shook Kabul as black smoke billowed from the shopping center where fighters battled security forces for hours."

"BIBLE SAYS ISRAEL, WORLD TO FACE MAJOR EARTHQUAKES IN LAST DAYS: Israel not prepared Bible prophecies tell us to expect multiple severe earthquakes in the last days. * Speaking of the signs in the last days that will indicate His return is drawing near, Jesus Christ said: "Nation will rise against nation, and kingdom against kingdom, and in various places there will be famines and earthquakes." (Matthew 24:7) * During the vision that the Hebrew Prophet Ezekiel had of events that would happen in the last days, the Lord said to him: "It will come about on that day when Gog [a Russian dictator allied with Iran, Turkey, Libya, et al] comes against Israel, that My fury will mount up in My anger. In My zeal and in My blazing wrath I declare that on that day there will surely be a great earthquake in the land of Israel. The fish of the sea, the birds of the heavens, the beasts of the field, all the creeping things that creep on the earth, and all the men who are on the face of the earth will shake at My presence; the mountains also will be thrown down, the steep pathways will collapse and every wall will fall to the ground." (Ezekiel 38:18-20) * During the vision that the Lord showed the Apostle John of what would happen in the last days, John wrote: "I looked and He broke the sixth seal, and there was a great earthquake; and the sun became black as sackcloth made of hair, and the whole moon became like blood….every mountain and island were moved out of their places. The the kings of the earth and the great men and the commanders and the rich and the strong and every slave and free man hid themselves in the caves and among the rocks of the mountains; and they said to the mountains and the rocks, 'Fall on us and hide us from the presence of Him who sits on the throne, and from the wrath of the Lamb; for the great day of their wrath has come, and who is able to stand?'" (Revelation 6:12-17) Israeli experts indicate, however, that while the J

"Taking advantage of the ado surrounding the failed airliner bombing and the new prominence of the al Qaeda peril, the Obama administration has finally given up its sanctions strategy for averting the rise of a nuclear-armed Iran. US secretary of state Hillary Clinton was tasked with the public announcement: "The Obama administration wants to keep the door to dialogue open with Iran," she said Jan. 4, then added a remark which let Iran off completely of the American hook: "…although the United States has avoided using the term deadline, it cannot wait indefinitely to hear form Iran." Her words explicitly backtracked on statements by other senior administration officials, including National Security Adviser James Jones, in recent interviews that Tehran's deadline for responding to international proposals expired on Dec. 31. DEBKAfile's Iranian sources report that Tehran sees Washington as so eager to reach the negotiating table that it is falling back from effective penalties step by step, including an embargo on refined oils and benzene, and even willing to forgive Iran's failure to meet a highly publicized international deadline. "Our goal is to pressure the Iranian government, particularly the Revolutionary Guards elements without contributing to the suffering of Iranians," Clinton explained. Threatening Iran's Revolutionary Guards instead of its regime is nothing but a feeble face-saver, our Iranian sources maintain, since the IRGC, whose financial operations and its management of Iran's nuclear program subsist on alternative "black market" economic mechanisms is hardly vulnerable to international sanctions."

"BAGHDAD - A female suicide bomber mingling among Shiite pilgrims in Baghdad detonated an explosives belt Monday, killing at least 54 people, officials said. The bombing was the first major strike this year against pilgrims making their way to the southern city of Karbala to mark a Shiite holy day. It came as a security official warned of a possible increase in attacks by insurgents using new tactics to bypass bomb-detection methods. The bombing raises fears of an escalation of attacks as hundreds of thousands of Shiites head to Karbala to mark on Friday the end of 40 days of mourning following the anniversary of the death Imam Hussein, a revered Shiite figure. The bomber hid the explosives underneath an abaya - a black cloak worn from head to toe by women - as she joined a group of pilgrims on the outskirts of Baghdad's Shiite-dominated neighborhood of Shaab, said Maj. Gen. Qassim al-Moussawi, Baghdad's top military spokesman. The bomber set off the blast as she lined up with other women to be searched by female security guards at a security checkpoint just inside a rest tent, al-Moussawi said. A police official said 54 people, including 18 women and 12 children, were killed and 117 were wounded. A hospital official confirmed the casualties. Both officials spoke on condition of anonymity because they were not authorized to talk to the media. Witnesses described a chaotic scene in the minutes after the blast. Raheem Kadhom, 35, said he was standing nearby when a huge fireball erupted among the pilgrims. Pilgrims were "on the ground, covered in blood and crying for help," he said. "Banners were all over the ground and covered in blood." The blast was so powerful it knocked some out of their slippers and shoes, which were scattered across the ground, he said, adding how people put the wounded in cars, taking them to hospitals rather than wait for ambulances. Despite an overall decline in violence in Iraq, al-Qaida and other Sunni extremists have routin