Public Intelligence Blog

Economic imbalances and social inequality risk reversing the gains of globalization, warns the World Economic Forum in its report Global Risks 2012. These are the findings of a survey of 469 experts and industry leaders who worry that the world’s institutions are ill-equipped to cope with today’s interconnected, rapidly evolving risks. The findings of the survey fed into an analysis of three major risk cases: Seeds of Dystopia; Unsafe Safeguards and the Dark Side of Connectivity. Report also analyses the top 10 risks in five categories – economic, environmental, geopolitical, societal and technological.

Report

Tip of the Hat to Berto Jongman.

Phi Beta Iota:  The report fails to address the absence of both intelligence and integrity among all “institutions” be they public or private.  This is the entire point of the global Occupy movement.  This is also the entire point of this website, which predates Occupy by some time.

Europe:  Updates. In an interview with a French daily on 25 December, International Monetary Fund (IMF) Managing Director Christine Lagarde stressed that Europe’s financial crisis is turning into “a crisis of confidence in public debt and the solidity of the financial system.

Greece: According to an IMF source involved in discussions with Greece, the situation in Athens is “deteriorating” and “a further 10-15 billion euros ($13.1-19.6 billion) still needs to be found.” Banks may be asked to agree to write off 65 % instead of 50% of Greece’s debt.

France: The French National Institute for Statistics and Economic Studies (INSEE) said on 26 December that there were 29,000 new job seekers “without any occupation” in November, up 1.1% over October. The year-on-year increase reached 5.2%. In total, 2,844,800 people did not have any occupation, the highest such figure since November 1999.

An economist at the French Observatory of Economic Conditions speculated that France’s unemployment rate — which currently stands at 9.3% — will reach 10.7% by the end of 2012, and predicted that Paris will not succeed in bringing the deficit down to 3% of GDP by 2013.

Spain: At a news conference on 26 December, Spanish Economy Minister Luis De Guindos said that the Spanish economy had suffered a “relapse” and would record negative growth in the fourth quarter of 2011. De Guindos warned that “the next two months are not going to be easy, neither from a growth nor a jobs point of view.”

Comment: According to the Financial Times and multiple economists the fate of the euro depends on what happens in Italy. This week Italy intends to auction bonds worth Euros 20 billion. The market reaction to the auction will be an important indicator of whether the central bankers have found a way to stabilize the financial crisis, or have just made it worse.

All analysts of European economics predict a recession in 2012. They differ only about how severe it will be. In an integrated global economy, the ripple effects from Europe will drag the US and the Chinese economies, among all others.

Phi Beta Iota:  Christine Lagarde, perhaps because she is a woman with a smaller ego and larger intuition than most men, appears to be the first Epoch A leader to “get” that we are all calling into question the very existence of the Western financial system that is rooted in fraud, waste, and abuse.  When she begins to point to Iceland as an example, and to demand that Western countries arrest and try Goldman Sachs, Morgan, Citi-Bank, Bank of America, and other officials for high crimes against the public, the healing can begin.  Until then, the West is avoiding the fundamentals.

NIGHTWATCH KGS Home

See Also:

Mini-Me: Iceland Breaks the Back of Western Banking

Chuck Spinney: Financial Coups Destroying Europe

Michel Bauwens: Human Evolution – Who Are We Becoming?

Mini-Me: European-US Banking–Tangled Web — Tell Me Again, Why Shouldn’t We Default and Let the Banks Fry? + Financial Terrorism RECAP

Marcus Aurelius

It’s a real shame Gates could not connect to his integrity while in office.

Gates on D.C. lawmakers: ‘Oversized egos and undersized backbones’

Marcus Aurelius

Worth a look.

Chapter 1
Chapter 2
Chapter 3

Full book

Click on Image to Enlarge

DefDog

An outstanding piece of bargaining power for Iran with both Russia and China….don’t expect UN sanctions anytime soon…..

Updated 11 Dec 2011 to add more stories with photos and comment.

Iran won’t return U.S. drone it claims to have

Iran Shows Video It Says Is of U.S. Drone

Zakaria and Baer: Downed U.S. drone an intel catastrophe

Phi Beta Iota:  Variants of this stuff are for sale at Brookstone and Best Buy. The US has consistently refused to be serious about emission control, downlink security, and real-time processing.  This is a “disaster” only to the degree that it reveals–once again–how immature the US “intelligence” archipelago of fiefdoms actually is.

Iran shows film of captured US drone

BBC, 8 December 2011

Iranian TV has shown the first video footage of an advanced US drone aircraft that Tehran says it downed near the Afghan border.

Images show Iranian military officials inspecting the RQ-170 Sentinel stealth aircraft which appears to be undamaged.

US officials have acknowledged the loss of the unmanned plane, saying it had malfunctioned.

However, Iranian officials say its forces electronically hijacked the drone and steered it to the ground.

Click on Image to Enlarge

BBC security correspondent Frank Gardner says the intact condition of the Sentinel tends to support their claim.

Iran’s Press TV said that the Iranian army’s “electronic warfare unit” brought down the drone on 4 December as it was flying over the city of Kashmar, about 140 miles (225km) from the Afghan border.

Nato said at the weekend that an unarmed reconnaissance aircraft had been flying a mission over western Afghanistan late last week when its operators lost control of it.

Pentagon officials have said they are concerned about Iran possibly acquiring information about the technology.

Read full article.

Phi Beta Iota: Our first impression has been that Iran has downed the UAV with an Electromagnetic Pulse (EMP) beam.  This is much cooler.  As with the Taliban in Afghanistan able to hijack the downlinks, the Iranians simply hijacked the entire aircraft.  From where we sit, the Chinese (who ride electric power circuits into “isolated” computers) and the Iranians [Persians, more PhDs per capita than most] are laughing at us, while the Russians simply ignore us.  Newsflash for the Pentagon: our technology is not that great.  Classifying the idiot vulnerabilities does not work–something we have been pointing out for twenty years.

Bob Seelert, Chairman of Saatchi & Saatchi Worldwide (New York): When things are not going well, until you get the truth out on the table, no matter how ugly, you are not in a position to deal with it.

See Also:

Dolphin: Their Drones, Our Drones, and EMP Rays

Journal: Insurgents Hack U.S. Drones

Journal: Gorgon Stare (All Eyes, No Brain)

Journal: Running Interference On Interference

Journal: U.S. Air Force–Remote from War & Reality

Steve Denning

Lest We Forget: Why We Had A Financial Crisis

Steve Denning

Forbes, 22 November 2011

When a true genius appears in the world you may know him by this infallible sign, that the dunces are all in confederacy against him.

Jonathan Swift

It is clear to anyone who has studied the financial crisis of 2008 that the private sector’s drive for short-term profit was behind it. More than 84 percent of the sub-prime mortgages in 2006 were issued by private lending. These private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year. Out of the top 25 subprime lenders in 2006, only one was subject to the usual mortgage laws and regulations. The nonbank underwriters made more than 12 million subprime mortgages with a value of nearly $2 trillion. The lenders who made these were exempt from federal regulations.

How then could the Mayor of New York, Michael Bloomberg say the following at a business breakfast in mid-town Manhattan on November 1, 2011?

It was not the banks that created the mortgage crisis. It was, plain and simple, Congress who forced everybody to go and give mortgages to people who were on the cusp. Now, I’m not saying I’m sure that was terrible policy, because a lot of those people who got homes still have them and they wouldn’t have gotten them without that. But they were the ones who pushed Fannie and Freddie to make a bunch of loans that were imprudent, if you will. They were the ones that pushed the banks to loan to everybody. And now we want to go vilify the banks because it’s one target, it’s easy to blame them and Congress certainly isn’t going to blame themselves.”

Barry Ritholtz in the Washington Post calls the notion that the US Congress was behind the financial crisis of 2008 “the Big Lie”. As we have seen in other contexts, if a lie is big enough, people begin to believe it.

Full Story Below the Line with BLOCKBUSTER Itemization

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Marcus Aurelius

Invite your attention to pages 5 thru 7 of attached which outlines in very clear terms the likely FY 2013 and longer term impacts on the Department of Defense and the Joint Force of the impending sequester brought about by this week’s dereliction of duty on the part of the Senators and Representatives making up the Joint Select Committee on Deficit Reduction.

SecDef Panetta to Senator McCain on Sequester (PDF 2 pages)

Phi Beta Iota:  Panetta-McCain may be the toxic replacment to Cheney-Warner.  The letter is without merit.   The acquisition system is so broken now the Navy and Army cannot build anything coherently–the Navy still lacks Naval Gun Fire and the Army still lacks an infantry weapon able to out-gun  the Taliban, while the Air Force continues to stink at close air support and lack both an intra-theater adequacy of lift and a long-haul heavy lift capability (or the ability to be effective above 6,000 ft).  DoD, in short, is a mis-managed mess and Panetta has no idea how to go about fixing that, nor does he want to.  Lockheed Martin and others are quite happy with the way things are, where 50% of every dollar is waste but that waste is profit for them because it includes their overhead.  It is true that the current laws mandated by Congress make it difficult for any Cabinet Secretary to cut waste–this is the same Congress that mandated we pay 100% asking price for Medicare drugs instead of the more common global standard of 2% for generic wholesale.  As long as Congress remains corrupt, and the SecDef remains corrupt, there is no fixing this problem.  The FACT is that we have to cut one trillion a year (what we are borrowing), not one trillion over ten years.  The FACT is that DoD would be much stronger if it could combine both intelligence and integrity and actually create the four forces after next, at a much reduced cost, that those with intelligence and integrity have been discussing for decades, and with greater intensity, since the mid-1990′s.

See Also:

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Koko

Worth a close reading.  The revealed conflicts of interest and probably high crimes and misdemeanors and nothing less than expected, but astonishing all the same.

The Veil of Secrecy at the Fed Has Been Lifted, Now It’s Time for Change

By Sen. Bernie Sanders

Huffington Post, November 4, 2011

As a result of the greed, recklessness, and illegal behavior on Wall Street, the American people have experienced the worst economic crisis since the Great Depression. Millions of Americans, through no fault of their own, have lost their jobs, homes, life savings, and ability to send their kids to college. Small businesses have been unable to get the credit they need to expand their businesses, and credit is still extremely tight. Wages as a share of national income are now at the lowest level since the Great Depression, and the number of Americans living in poverty is at an all-time high.

Read the rest of this entry »

+ Stealing America: Vote by Vote

+ American Blackout: documentary of Greg Palast’s investigation into voter fraud

+ UNCOUNTED: The New Math of American Elections

+ Hacking Democracy: The HBO Special

+ Election theft video archive from Votescam.org

Note: Diebold – “Diebold Election Systems” acquired by “Premiere Election Solutions” then acquired by “ES&S” which was acquired by “Dominion” in 2010 (wikipedia).

Also see:
+ BlackBoxVoting.org
+ Votersunite.org
+ VerifiedVoting.org
+ Election Defense Alliance
+ Citizens for Legitimate Gov