Ireland Default ?

Telegraph: Reports on the massive downgrade of Ireland’s credit worthiness by Moodys a Credit Agency and the negative effects on Spain and Portugal. Lets get real folks, either Spain or Portugal will default next year, the interest charged by the EU/IMF makes sure the Irish economy will be in the toilet for years, thus mass emigration to the UK and other EU countries. If Spain, Ireland and Portugal default then its over for the Euro, the EU can not afford to bailout Spain, a default Spain would wreck the economies of Western Europe, but the cost of nearly half trillion to bail out Spain would be to much for the German voter and th UK voter would take to the streets in the cold to demonstrate, so would this blog. The bond market should chop Spain, Ireland and Portugal NOW, lets start the recovery with the pain, and there will be pain folks, but then the economic structure would be clean of the known and hidden debts of the EU countries and banks. The more the EU tries to hide this debt the more the cost will be in the future, lets have the pain NOW, a mass unemployment, a cut in the welfare state, less Government not more, then the Western Economy can get out of this mess, otherwise when the fall does come it will be hard and brutal, and lets recall the Great Depression came to and end with World War Two, the West can not afford a World War Three.

The Passing of the Obama/Bush 43 Tax Cuts

The House of Representatives: The US House has passed the Obama/Bush 43 tax cuts by 277 to 148. This is a good news day for the Obama White House, it just might be the day that President Obama got re-elected, depends how he plays it from here, if he moves to the centre even centre right and nicks a few Republican ideas he can do a Bill Clinton of 1996. Although no doubt that Obama has a fine mind, very much like Jimmy Carter does he have the political mind of a Bill Clinton, will he know when to fight and when to give way, will he go down to the mat over ObamaCare, even if the US Courts at the end of the day declare that ObamaCare is illegal. From January its not what Republicans do that will decide if Obama gets re-elected its what the Oval does, Bill Clinton or Jimmy Carter, that is the choice for POTUS.

Its ALL about Pakistan - Obama and Afghanistan

Today President Obama announced a review of his Afghan Policy, lets start with the ironic or economic with the truth to be kind ( and that is being kind ), the President stated the following on Afghanistan, “.. I can report that thanks to the extraordinary service of our troops and civilians on the ground, we are on track to achieve our goals. ” From Alexander the Great, to the British Empire to the Soviet invasion of 1979 no one has achieved their goals in Afghanistan, it’s a wild and remote place and that is just the people, the geography of Afghanistan does not help Western Armies, the Soviet didn’t play by the rules and got kicked out in the end, NATO is playing by the rules, lets see how that far that gets the West. But the real point about the statement about Afghanistan is the remarks by President Obama on Pakistan, “ Finally, we will continue to focus on our relationship with Pakistan. Increasingly, the Pakistani government recognizes that terrorist networks in its border regions are a threat to all our countries, especially Pakistan. We’ve welcomed major Pakistani offensives in the tribal regions. We will continue to help strengthen Pakistanis’ capacity to root out terrorists. Nevertheless, progress has not come fast enough. So we will continue to insist to Pakistani leaders that terrorist safe havens within their borders must be dealt with. At the same time, we need to support the economic and political development that is critical to Pakistan’s future. As part of our strategic dialogue with Pakistan, we will work to deepen trust and cooperation. We’ll speed up our investment in civilian institutions and projects that improve the lives of Pakistanis. We’ll intensify our efforts to encourage closer cooperation between Pakistan and Afghanistan. And, next year, I look forward to an exchange of visits, including my visit to Pakistan, because the United States is committed to an enduring partnership that helps deliver improved security, development, and justice for the Pakistani people. ” At the end of the day a nuclear armed Pakistan falling in to the hands of the Taliban / Al Qaeda would be a disaster for the West, it would make the Afghan War look like a fun period. Thus what ever President Obama says about leaving Afghanistan should be taken with a massive pinch of salt, as long as Pakistan is under threat the US will be in Afghanistan, that simple and serious folks.

The Apprentice - Interview Stage - Major Spoiler! Red Alert!

The Daily Mail: Reports that Lord Sugar really goes after Stuart “ The Brand ” Baggs at the interview stage of the Apprentice. At its most essence to misquote Bush 43 on a New York Times Reporter, Mr Baggs is a major league rotten apple. Mr Baggs has been fun to watch but how he go to this round makes you wonder if Lord Sugar should sign a power of attorney to Lady Sugar. Lets see the House of Baggs fall all over Mr Baggs.

North Korea - Third Nuclear Test ?

Telegraph: Reports that South Korea Intelligence thinks that North Korea will try a third nuclear test next year. It is time to take North Korea on, the nuclear blackmail of North Korea has to be seen to fail, the failure has to be seen by Iran, otherwise they will push for the bomb and the Middle East will see a nuclear arms race. One would not be surprise to see that North Korea either sell the information to Iran to create a bomb or sell them a small scale missile. The more weak President Obama looks when dealing with Iran the more his re-election chances go down the drain, thus that nightmare of a 3am call could be that North Korea has invaded South Korea and that Iran has invaded Iraq on the same day and according to a joint plan. Also Israel is being hit from Gaza and Lebanon by groups loyal to Iran. It has to be questioned if POTUS could deal with that kind of political nightmare.

Greek Austerity and the Violent Mob

BBC News: Reports on the violent General Strike in Greece due to the imposed austerity measures by the IMF. It time for all Governments in process of austerity to get very tough with those that protest against the needed austerity measures, any public servant that goes on strike should be sacked, any student arrested should lose his or her University place. All those arrested should have a criminal record that that can VETO any public sector job for life. Time to get tough folks, we had the years of plenty now it’s the time for the harsh real world, you don’t get something for nothing.

The Future of Afghanistan

The New York Times: Reports that US Intelligence Agencies are telling the Obama Administration that there cant be success in Afghanistan as long as the Taliban/Al Qaeda have safe heavens in Pakistan. Well folks this does recall the Vietnam War, the Viet Cong had support from North Vietnam, thus they could never be defeated, the Obama Administration will have to place more pressure on Pakistan to clean up the border badlands between Afghanistan and Pakistan, the insurgents can attack NATO forces in Afghanistan and then run back to Pakistan, safe that NATO wont follow then on the ground, for NATO to place troops in Pakistan could lead to the fall of the Western supporting Pakistan Government. On the he other hand POTUS cant afford to lose Afghanistan, it’s the War he wanted to fight, he didn’t start the War but he has to finish it, in many respects Afghanistan is Obama’s Iraq. The announced 2011 pull out of US troops has been dropped for a NATO end game of 2014 for the transfer of the fight to the Afghan Government. But lets be clear here folks, its not about Afghanistan, its about Pakistan, a nuclear armed Pakistan can not be allowed to fall in to the hands of the terrorists. Thus if this horror story was to develop it is easier to transfer troops from Afghanistan to Pakistan, lets always remember that folks. Many more deaths before peace folks, if there can ever be peace in Afghanistan.