Iraq: If Only We Had The Money

It is well known that Iraq is fighting a horrible battle with ISIS for control of the country……there are many problems encountered like the cost of the war, money for rebuilding infrastructure, etc…..and so far their oil production even with the war raging is up for FY 2015 so far……

Iraq’s crude oil production climbed to an all-time high of 4.18 million barrels a day in July, according to statistics from the International Energy Agency (IEA).

This was up from the 4.15 million bpd produced in June.

The southern oilfields accounted for exports of 3.06 million bpd, up about 40,000 barrels from June.

Then there is the cost of 36 American war planes scheduled to be delivered to Iraq in the very near future……

Lockheed Martin Corp this week will deliver the first of 36 F-16 fighter jets to Iraq, marking what Baghdad‘s envoy to the United States called a “new chapter” in his country’s ability to defend its vast borders with Iran and other neighbors.

Iraqi Ambassador Lukman Faily will travel to Lockheed’s Fort Worth, Texas, plant on Thursday for a ceremony at which Lockheed and the US government will formally deliver the first F-16 to Iraq.

Baghdad has also signed military contracts with Russia and the Czech Republic, among others, and has said it will not be able to fully defend its airspace until 2020.

Iraq also plans to buy Boeing Co Apache helicopters and other weapons from the US government as it assumes responsibility for its own defense and counterterrorism efforts.

Faily said the US government appreciated the urgency and scale of the challenge that Iraqi is facing given continued and mounting strife with insurgents.

(Who is flying these planes since the Iraqi Air Force is damn near non-existent?)

All that makes perfect sense….Iraq is trying to buy its way to success against ISIS….but then a recent development made me a bit apprehensive…..

It appears that Iraq may be near to bankrupt…….

Iraq’s ability to fight Islamic State extremists who control roughly a third of the country is hampered by a financial crisis that’s left the Baghdad government operating “hand to mouth,” Iraqi Ambassador Lukman Faily warned this week.

The inability to pay salaries on time to the soldiers and militiamen fighting the Islamic State, also known as ISIS or ISIL, has hurt morale and hindered progress in operations to retake key hubs that were captured by the jihadists, Faily said in an interview Thursday. And belt-tightening measures such as consolidating government ministries threaten to exacerbate ethnic and sectarian tensions by upsetting the delicate power-sharing quota system that’s been in place since the U.S.-led occupation authority took charge following the invasion of 2003.

If Iraq is running production at all time highs then why is it in so much financial trouble?  My guess…..the PSAs.  Production Sharing Agreements (PSA)…..a way for oil companies to screw the host country out of a share of the profits… other words oil companies among others are leading the way to Iraqi bankruptcy.

In case you would like more info on the PSAs….I covered it back in 2007….

Source: Who Gets Iraq’s Oil? | In Saner Thought

Ain’t capitalism grand?

France May Criminally Indict a Big Bank, Why Can’t the US?

Think back to 2008……you will recall the panic that set in because banks were about to crap all over the economy……and then we elected a new prez and he set about making banks “too big to fail”…..they got massive influxes of cash and we saved to go about their business of rigging the economy.

Does any of that sound familiar?

And the next question is how did these thieves manage to avoid prosecution?

Personally, I want these people to either do time or commit suicide for what they have done.

What kind of sick society rewards people that did that much damage to the economy?

Europe is trying to hold these people accountable……why cannot the US?


France May Criminally Indict a Big Bank, Why Can’t the US?.


As long as we are talking about France sand laws…..the are setr to possibly make mews again….this time in the Fashion world……..

France is expected to pass legislation to outlaw ultra-skinny fashion models, reports the CBC. The legislation now being debated would set up minimum weights based on body-mass index, a formula that would require a woman 5-foot-7 to weigh 120 pounds. And the measure wouldn’t just bar such models from runways, it would make it a criminal offense for fashion houses and agents to use them in ad campaigns or in any professional capacity. Those in violation would face six months in prison and fines of up to $79,000.

“This is an important message to young women, young women who see these models as an aesthetic ideal,” says the French health minister, Marisol Touraine, as quoted at France24. The lawmaker who wrote the legislation is a doctor who estimates that up to 40,000 people in France have anorexia, most of them teens. Israel, Italy, and Spain already have similar laws on the books, but the New York Times notes that France’s legislation would likely be far more influential. “It would almost certainly raise the debate to a new level, especially in Paris, the spiritual capital of the fashion world,” writes Alissa Rubin.

BRILLIANT!  Looks like models may once again have shape……..I could not be more pleased.

What say you?

How American businessmen are ruining American business — and the U.S. economy – The Week

Many Americans have blamed business for the slow rate of jobs growth…..and for me they deserve all the criticism……it is all about their bottom line…..screw the country and especially screw the people……

Americans, all Americans, need to wake up to the fact they they, corporations, are NOT on the side of the people……they fund crap like the GOP and all the time they get corporate welfare….

we need to take this country back from sleazy politicians and fat cat bankers……who’s with me?


How American businessmen are ruining American business — and the U.S. economy – The Week.

Iceland Shows The World

This would have been the perfect gift for the country to give to its people on the joy of the season……start putting the thieves that work at banks in prison…….wishful thinking I know but at least one country has done the right thing…….(read on)…..

There has been lots of mumbling and grumbling about what the bankers were allowed to get away with when they caused the economic meltdown of 2008……..they have made obscene bonuses and still walk among us even after about 50% of the population lost lots of their coveted nest egg that they were depending on for a comfortable retirement….the American Dream was crapped on by the banks and the thieves they employ……some Americans have called for these crooks to be jailed for they basically robbed the population of their funds….but so far they got bigger bonuses and are not help responsible for their actions…….what to do…..what to do?

The small island country of Iceland has shown the world what should be done to these cons……

(Newser) – Iceland has done something highly unusual with some of the bank chiefs blamed for the country’s 2008 financial collapse: put them on trial and sent them to prison. Four former Kaupthing Bank bosses have been sentenced to between three and five years for market abuses relating to a deal where a Qatari sheikh bought a confidence-boosting stake in the bank with money that had been provided by the bank itself, the BBC reports.

Prosecutors said the loans, made soon before Kaupthing collapsed under massive debts, were made solely to boost the bank’s share price, reports Reuters. The bank’s former chief executive and chairman of the board received prison terms, along with one of its majority owners and the chief of its Luxembourg branch. The sentences are the heaviest Iceland has ever handed down for financial fraud, but prosecutors say a bigger case against Kaupthing is in the works

And that my friends is how you hold con artists responsible for their actions……America should follow suit….but NO…we fine them and let them return to the actions they were doing that caused the economic collapse……where is the logic here?

Road To Ruin

Here we go again…..and again…….

By now we all have had enough of the crap that Congress spreads……we can debate who is to blame…..but the truth is ………..WE ARE TO BLAME!  By we I mean us voters that keep electing the same morons year after year and then we cannot understand what went wrong….

But while we are scratching our heads and bitching about those damn Dems or Repubs or the Tea Partyers the economy is losing ground quickly….and that cannot be a good thing no matter where you stand or who you listen to on the radio……

(Newser) – As lawmakers scramble to strike a last-minute deal that would allow the government to keep borrowing money, Fitch Ratings issued a shot across the bow this afternoon: It put the nation’s AAA on a “negative” watch, reports MarketWatch, meaning a downgrade is possible unless things get resolved soon. “The prolonged negotiations over raising the debt ceiling (following the episode in August 2011) risks undermining confidence in the role of the US dollar as the preeminent global reserve currency, by casting doubt over the full faith and credit of the US.” (Full text here.) The nation hits its debt-ceiling limit on Thursday. For the record, Fitch and Moody’s still have the US at the highest AAA rating, though Standard & Poor’s downgraded its rating during the 2011 crisis, notes Business Insider.

Pat yourself on the back….you have f*cked the country……and GOOD!

Why Detroit? Part 2

We all have seen the news about the demise of Detroit….at least the filing for bankruptcy……but what solutions if any are there open to the city and the state?

Actually my first thought was….will the taxpayer be on the hook for the bankruptcy?  But alas, I do not see the government stepping in to help Detroit.  Why?  Too many other cities are near the same situation as Detroit and a precedent cannot be set….no matter how good it would be……just cannot have the government involved in any bailout.

My first thought for a solution was mediation…….I would imagine that those on the Right would not like this because it would most likely include unions and we all know what the Right thinks about them……well the lies they believe……but mediation?  What is mediation?

First, you identify the problem….get parties together and see what the biggest problem is for them both……then there is the information gathering phase where mediators accumulate as much info as possible on the two sides……next,identify the biggest problem…….move on to meeting with the two sides and let them voice their ideas and then move on to solving the problem.

I like this because both sides have an equal voice and an equal chance of success……probably not gonna work for Detroit…..the problem is money and there is NONE.  So, this solution is out of the question…..

In today’s climate…the most obvious at least for Michigan, is the emergency manager, which has been used on numerous occasions by Gov. Synder….if you are not from Michigan may not know what an emergency manager is……but guess what?  I will tell you…….!

An emergency manager can:

  • Hire/fire local government employees
  • Renegotiate, terminate, modify labor contracts with state treasury approval
  • Sell, lease, or privatize local assets with state treasury approval
  • Revise contract obligations
  • Change local budgets without local legislative approval
  • Initiate municipal bankruptcy proceedings
  • Hire support staff

An emergency manager cannot raise taxes.

My guess is that the EM will push hard for the bankruptcy……..I do not see where this will solve Detroit’s problems.

In my opinion…..the EM is unconstitutional and undemocratic….any time that the elected reps are by passed by any government is, in my book…undemocratic….an outright assault on democracy…………..but since I do not live in Michigan I am not an expert….but if some one who does would like to comment…I am open to a debate…..

The solution is a hard one…..but eliminating the democratic solution  is NOT the answer.