FDIC: Banking Industry 2Q Profits Plummet 86%

Associated Press

Federal regulators say U.S. banking industry profits plunged by 86% in the second quarter, as slumps in the housing and credit markets continued.

Federal Deposit Insurance Corp. data show federally-insured banks and savings institutions earned $5 billion in the April-June period, down from $36.8 billion a year earlier.

The roughly 8,500 banks and thrifts also set aside a record $50.2 billion to cover losses from soured mortgages and other loans in the second quarter.

The FDIC says 117 banks and thrifts were considered to be in trouble in the second quarter, up from 90 in the prior quarter and the biggest tally since mid-2003.

Joint Chiefs Chairman Says Another ‘Liberty’ Will Not Be Tolerated


Joint Chiefs Chairman Says Another ‘Liberty’ Will Not Be Tolerated

By Mark Glenn

Recently appointed Chairman of the Joint Chiefs Adm. Mike Mullen flew to Tel Aviv to warn Israel’s military establishment how “important” it was that “history not repeat itself ”—referring to Israel’s deliberate attack on the USS Liberty in June, 1967. The Establishment media blacked out the event (in which 34 American men were killed) for decades—and still does.

Given the fact that this brazen two-hour attack upon the United States has been hushed up for 41 years, the reason for Mullen’s meeting is obvious—someone within the intelligence or military apparatus of the United States has concluded that Israel is planning a “USS Liberty Part II,” meaning an attack on a U.S. ship, most likely in the Persian Gulf, leading to a massive loss of life to be blamed on Iran.

As was intended in 1967, when Israel attacked the Liberty, angry Americans would demand the “obliteration” of the guilty party, the false identity of which the Jewish media establishment in America would provide. And while all players involved have been tight-lipped about the particulars of this meeting, Mullen’s impromptu trip to Israel and subsequent discussion was in effect a stern warning to Israel to “Not even think about it.”

Some in Washington are beginning to realize that they’ve just put their foot into something nasty with regards to Israel’s dirty wars in the Middle East that will never be finished as long as it exists. With oil and virtually all consumer products skyrocketing in price simultaneous to the U.S. economy going down the drain, some now understand that by signing on as Israel’s pit bull in the Muslim world that America will wind up paying the ultimate price for her devotion to the Jewish state, meaning the complete destruction of her economy and her position as a world power.

America’s top general officer seems to be wary of widening the present debacle to include war with Iran that may bring into the fray nuclear-armed nations such as Russia and China. He has now joined with saner voices both inside and outside the Bush administration who are trying to prevent an otherwise apocalyptic end to America.

In discussing an attack on Iran, Mullen recently stated that opening a third front would be “extremely stressful” on the U.S. military and added that it would lead to consequences “difficult to predict,” adding that “There is need for better clarity, even dialogue.”

Is this making Israel jittery to the point she would contemplate pulling off another USS Liberty?

“Respectable” people have begun to openly voice such thoughts as well. In a recent provocative article entitled “If Iran is Attacking, It Might Really Be Israel,” ex-CIA officer Phillip Giraldi wrote:

Some intel types are beginning to express concerns that the Israelis might do something completely crazy to get the U.S. involved. There are a number of possible “false flag” scenarios in which the Israelis could stage an incident that they will make to look Iranian, either by employing Iranian weapons or by leaving a communications footprint that points to Teheran’s involvement. Those who argue Israel would never do such a thing should think again. Israel is willing to behave with complete ruthlessness towards the U.S. if they feel that the stakes are high enough. Witness the attack on the USS Liberty and the bombing of the U.S. Consulate in Alexandria in the 1950s. If they now believe that Iran is a threat that must be eliminated it is not implausible to assume they will stop at nothing to get the United States to do it for them, particularly as their air force is only able to damage the Iranian nuclear program, not destroy it. . . .

Joined alongside Giraldi is former long-time CIA analyst Ray McGovern who in a recent essay entitled “Israel Planning a September/October Surprise?” writes the following with regards to the U.S. pulling out of the Middle East and what Israel might do as a result:

My guess is the Israeli leaders are apoplectic. . . . This dramatic change—or even just the specter of it—greatly increases Israel’s incentive to ensure U.S. involvement in the area that would endure for several years. The Israelis need to create “facts on the ground”—something to guarantee Washington will stand by “our ally.” The legislation drafted by AIPAC calls for a blockade of Iran. That would be one way to entangle; there are many others. The point is that the growing danger the Israelis perceive will probably prompt them to find a way to get the U.S. involved in hostilities with Iran. All Israel has to do is to arrange to be attacked. Not a problem. There are endless possibilities among which Israel can choose to catalyze such a confrontation. Viewed from Tel Aviv it appears an increasingly threatening situation, with more urgent need to “embed” (so to speak) the United States even more deeply in the region—in a confrontation involving both countries with Iran. A perfect storm is brewing. . . . In sum, Israel is likely to be preparing a September/October surprise designed to keep the U.S. bogged down in Iraq and in the wider region by provoking hostilities with Iran. And don’t be surprised if it starts as early as August. . . .

New 911 Documentary “Missing Links”


Here is the DivX Torrent

This is a FANTASTIC documentary and I’m sure will only improve as donations come in and it becomes better funded. You may have seen Loose Change, and all the Alex Jones movies but this one goes SO much deeper into the truth. I learned a tremendous amount from this film. If and when this becomes available through Bittorrent I will update this post and supply the link. Until that time enjoy the show.

Edit 9/11/15

This is a copy hosted by PROTHINK himself, at trutube.tv

The US Government is a Corrupt Institution

by Charley Reese

What follows are a few of the basic premises on which I base my thinking. You might or might not agree with them, but may I suggest that you make a list of your own basic premises. It will help you clarify your thinking.

1. Government is inherently incompetent, and no matter what task it is assigned, it will do that task in the most expensive and inefficient way possible.
2. The American government is corrupt from top to bottom.
3. If you rely on the mass media to inform you about your community, state and nation, you will, with rare exceptions, be woefully ignorant of what is really going on.
4. The universal franchise is a bad idea. The notion that the destiny of the nation should be put in the hands of ignoramuses, parasites, boobs, party hacks and idiots is absurd on its face.
5. Public education in America is a failure and is so flawed it cannot be reformed.
6. Not much has changed in the past 5,000 years of human history.

All of that might sound cynical, but it really isn’t. True conservatives have argued for years that government, even a benign one, is like a clumsy, retarded giant, and therefore you have to be careful to limit what tasks you assign it.

You can make a career out of just criticizing obvious bloopers committed by the various departments of government, because they all commit them. The Romans built roads that are still around, but states today continue to build roads that will pothole and crack within a year, sometimes sooner. Look at the federal airport-security people. They take nail trimmers away from grandmothers but allow real weapons to get through. And so on and so on.

As for the news media, since most media companies are now controlled by a handful of corporations whose sole interest is in maintaining a high profit margin, you are getting mostly fluff instead of hard news. Hard news is labor-intensive. It is cheaper to go with the fluff.

Thomas Jefferson’s theoretical belief in a free press soon foundered on the reality, and he came to despise it. He advised one young man never to read newspapers, since it was better to be ignorant than misinformed.

As for government corruption, it’s all around us. Sure, there are honest public officials, but the system itself is corrupt. It now requires so much money to run for office that the field is narrowed to bored millionaires and office-seekers willing to take as much money as they can from anywhere they can get it. That’s why Congress pays no attention to the people. It pays attention to the suppliers of campaign funds – not to mention junkets, fancy vacations and off-the-radar business deals.

As for the universal franchise, the problem with that is obvious. People who wish to vote should at least be required to pass the same test given to immigrants who want to become citizens. A lot of voters are not even sure what state they live in – or what century, for that matter. How can people who are ignorant of history, economics and basic science make an intelligent choice for a national leader? They can’t. They will go with the demagogue.

And, of course, it is public education that is mass-producing these ignoramuses. Imagine people completing 16 years of formal education and not knowing how to spell, punctuate or use their native language correctly. Imagine college graduates who know virtually nothing about their country’s history or geography.

As for the final premise, it is simply a reminder to utopians: Human beings are selfish, flawed and fallible animals. They always have been, they are now, and they always will be. Therefore, any human institution, public or private, will reflect those flaws. If you want perfection, plant a rosebush.