Let’s start with the most basic fact about all this uncollectible, impaired, bad debt: every euro of debt is somebody else’s asset. Wipe out the debt and you wipe out the asset.

by Charles Hugh Smith from Of Two Minds

Why Isn’t Anyone Talking About Writing Off 3 Trillion Euros of Bad Debt?

The only solution to bad debt is to write it off–renounce it all. Why aren’t those who took the risks for their own private gain being forced to absorb the losses?

We all know some 3 trillion euros of debt in Europe is uncollectible. So why isn’t anyone talking about the [...]

November 15th, 2011 | Tags: , , , , , , , , , | Category: All | Leave a comment

Clashes in Saudi Arabia leave 14 wounded

From FT:

The Saudi Arabian government blamed an unnamed foreign power – normally a code word for Iran – for trying to stoke trouble in the heavily Shia-populated area around the city of al-Qatif after 14 people were injured in clashes on Monday.

The accusation came from the interior ministry as it claimed on Tuesday that 11 security personnel were wounded when security forces clashed with [...]

October 4th, 2011 | Tags: , , , , , , , , , , , , , , , , | Category: All | Leave a comment

Soros Linked to Over 30 Major News Organizations; ABCNEWS Amanpour sits on board

Editor’s note: This is the first of a two part series on George Soros and the media.

When liberal investor George Soros gave $1.8 million to National Public Radio , it became part of the firestorm of controversy that jeopardized NPR’s federal funding. But that gift only hints at the widespread influence the controversial billionaire has on the mainstream media. Soros, who spent $27 million trying to defeat President Bush in 2004, has [...]

May 12th, 2011 | Tags: , , , , , , , , , , , | Category: All | Leave a comment