Today’s Items:

First…
Russia Warns West on Syria After Obama Threats
http://ca.news.yahoo.com

The Russians, Chinese, and any thinking person are not falling for the Obama hate, lies, and threats when it comes to Syria.  They are not going to fall for a Libya repeat and have drawn a line in the sand.   With EU countries dependent upon Russian natural gas, Obama may as well forget about both a NATO and UN cover on this kinetic action as well.

Next…
Greek Shortfall Growing Ever Larger
http://www.spiegel.de

The Greek prime minister has spent weeks searching under cushions of couches trying to come up with the 11.5 billion euros needed to satisfy international conditions for emergency aid; however, German politicians, who, like Merkel, have their reputations on the line, have become more upset when they heard that the shortfall may be nearly 14 billion euros.   In short, stick a fork in Greece, it is done.

Next…
The Odds At 90%
http://www.zerohedge.com

Even if the German High Court finds that there is a way to support the ESM, Germany with a GDP of $3.5 trillion does not have the capital, resources, or the assets to support the rest of Europe.   It is a 90% bet that the ECB cannot do anything substantive without the support of Germany and Germany will not keep handing Greece money forever.

Next…
China Stacking Silver?
http://www.youtube.com 1
http://www.youtube.com 2

Eric Sprott, who oversees PSLV, has been saying that once deep pockets starts stacking silver, silver prices will sky rocket. Well, it now turns out that China may be beginning to look at stacking physical silver. See, they can spend billions and billions of dollars for silver and this kind of money chasing such a limited asset like silver. Well, if this is true, you better be hang on because the rocket has just been ignited.

Next…
Government To Expand Regardless of Election Results
http://www.moneynews.com

Former U.S. Treasury Secretary Lawrence Summers should get the Master Of the Obvious Award with his assertion that government will only get bigger regardless who wins in the November election. Hell, Obama and Romney are essentially cut from a similar cloth that only government has all the solutions. Obama, being big government is all but in your face and the fact that Romeny was governor of ultra-liberal Massachusetts should be a major clue here folks.

Next…
Still No Escape for Taxpayers if Banks Go Bust
http://in.reuters.com

Five years since the start of the financial crisis, taxpayers would still be forced to foot the bill should more banks fail. Reforms were supposed to be in place; however, no one is holding their breath. The primary reasons, is that politicians, unlike those in Iceland, do what the bankers tell them. When the derivatives go bust, so will the banks, and any assets held by those banks, like your checking and savings account.

Next…
Detroit Water Department Employs ‘Horseshoer’
http://www.michigancapitolconfidential.com

At a pay rate of $29,245 a year, the broke city of Detroit employs a horseshoer in the Detroit Water and Sewerage Department. Are there horses? No, but his job is safe because union rules prohibit the elimination of positions. On top of this, the horseshoer position also receives about $27,000 in additional benefits. Let’s give a round of applause for Union rules folks because this profession may make a serious comeback in the motor city.

Finally, please prepare now for the escalating economic and social unrest. Good Day!

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