Archive for April 10th, 2007


Subprime rot spreads

Now the Alt-A loans are getting hit with more defaults, and this sector was originally considered safe. Not any more.

More defaults means housing prices will drop because of all the distressed homes on the market. Current homeowners who are still solvent will find it harder to trade up because there will be fewer buyers for their house.

Appraisers, real estate agents, contractors, Home Depot, etc. will all have less business and less income.

Just another example of the boom-bust cycles of capitalism…

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DiFi feels the heat

Code Pink, Raging Grannies ask Feinstein to return profits to Iraq amid allegations of corruption and war profiteering

Sen. Feinstein’s denials, quoted in the article, are getting more heated, a sure sign the pressure is mounting.

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Toothless Democratic proposals for troop withdrawal

Wolves in Sheep’s Clothing. Stephen Marshall

Rosa Brooks details in an op-ed how both the Senate and House proposals troop withdrawal have no mechanism for enforcement and huge loopholes.

The House version, for instance, requires the president to ensure that military units be “mission ready” before being deployed, but it allows these requirements to be waived by the president “for national security reasons.”

Screaming “national security” can be used to justify almost anything, and since it’s, y’know, by definition all hush-hush and secret, they don’t have to justify it or explain anything. Not that Bush would anyway or that Democrats find sufficient vertebrae to demand it. But the real problem with Democrats isn’t their lack of vertebrae, but their endless complicity in the wars.

In the Senate version, the March 31, 2008, troop withdrawal date is only a “goal.” And both bills permit troops to remain in Iraq indefinitely to protect U.S. personnel, run counterterrorism operations and train Iraqi forces.

Since arguably you could say any attack on US forces in Iraq is due to terrorism then it would follow that counter-terrorism operations would be needed. In short, this does nothing to end the war. Which is precisely the intent of both bills.

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Marxist surge predicted in UK

Karl Marx

“The middle classes could become a revolutionary class, taking the role envisaged for the proletariat by Marx,” says the report. The thesis is based on a growing gap between the middle classes and the super-rich on one hand and an urban under-class threatening social order: “The world’s middle classes might unite, using access to knowledge, resources and skills to shape transnational processes in their own class interest”.

The report comes from those crazed Marxists at the Ministry of Defence in the UK.

Interesting, isn’t it, that the ruling class is quite aware of class differences whereas the working class, especially in the US, often isn’t. A joining together of the under-class and middle class is the worst nightmare of the ruling class.

Tip. Lenin’s Tomb

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