Tuesday, December 6, 2011

Africa - The Chinese Are Coming

Capital Account: Dean Baker on the Future of Europe

By on Dec 5, 2011

Has a War with Iran already begun?

From The Atlantic:

Two incidents that occurred on Sunday--Iran's claim of a shoot-down of a U.S. drone, and an explosion outside the British embassy in Bahrain--may have been unrelated. But they appear to add to growing evidence that an escalating covert war by the West is under way against Iran, and that Tehran is retaliating with greater intensity than ever.

Asked whether the United States, in cooperation with Israel, was now engaged in a covert war against Iran's nuclear program that may include the Stuxnet virus, the blowing-up of facilities and the assassination or kidnapping of scientists, one recently retired U.S. official privy to up-to-date intelligence would not deny it.

"It's safe to say the Israelis are very active," the official said, adding about U.S. efforts: "Everything that [GOP presidential candidate] Mitt Romney said we should be doing--tough sanctions, covert action and pressuring the international community -- are all of the things we are actually doing." Though the activities are classified, a senior Obama administration official also would not deny that such a program was under way. He indicated that the U.S. was not involved in every action, referring to recent alleged explosions at Isfahan and elsewhere. But, he added: "I wouldn't assume that everything we do is coordinated."......read on

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S&P Places 15 Euro Nations on Warning for Credit Downgrade

Dec. 5 (Bloomberg) -- Standard & Poor’s said Germany and France may be stripped of their AAA credit ratings as the debt crisis prompts 15 euro nations to be put on review for possible downgrade.

The euro area’s six AAA rated countries are among the nations to be placed on a negative outlook, and their credit ratings may be cut depending on the result of a summit of European Union leaders on Dec. 9, S&P said today in a statement. The euro reversed its gains and U.S. Treasuries rose earlier today after the Financial Times reported that the credit-ranking firm planned to reduce six AAA outlooks.

“Systemic stress in the eurozone has risen in recent weeks and reached such a level that a review of all eurozone sovereign ratings is warranted,” S&P said in a statement.......read on

Chris Martenson and James Turk on Europe and the Global Economy

From: GoldMoneyNews  | Dec 3, 2011

Chris Martenson on Resource Depletion and Precious Metals

 From: GoldMoneyNews  | Nov 29, 2011