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UN fears third leg of the global financial crisis, with epic debt defaults

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AMBROSE EVANS-PRITCHARD

21 SEPTEMBER 2016 • 8:54PM

The third leg of the world’s intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history.

It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal free-market orthodoxies promoted for almost forty years by the Bretton Woods institutions, the OECD, and the Davos fraternity.

“Alarm bells have been ringing over the explosion of corporate debt levels in emerging economies, which now exceed $25 trillion. Damaging deflationary spirals cannot be ruled out,” said the annual report of the UN Conference on Trade and Development (UNCTAD).

We know already that the poisonous side-effect of zero rates and quantitative easing in the US, Europe, and Japan was to flood developing nations with cheap credit, upsetting their internal chemistry and drawing them into a snare. What is less understood is just how destructive this has been.

Much of the money was wasted, skewed towards “highly cyclical and rent-based sectors of limited strategic importance for catching up,” it said.

http://www.telegraph.co.uk/business/2016/09/21/un-fears-third-leg-of-the-global-financial-crisis-with-epic-debt/

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An Internet Giveaway to the U.N.

If the U.S. abdicates internet stewardship, the United Nations might take control.

By L. GORDON CROVITZ
Aug. 28, 2016 5:52 p.m. ET

When the Obama administration announced its plan to give up U.S. protection of the internet, it promised the United Nations would never take control. But because of the administration’s naiveté or arrogance, U.N. control is the likely result if the U.S. gives up internet stewardship as planned at midnight on Sept. 30.

On Friday Americans for Limited Government received a response to its Freedom of Information Act request for “all records relating to legal and policy analysis . . . concerning antitrust issues for the Internet Corporation for Assigned Names and Numbers” if the U.S. gives up oversight. The administration replied it had “conducted a thorough search for responsive records within its possession and control and found no records responsive to your request.”

It’s shocking the administration admits it has no plan for how Icann retains its antitrust exemption. The reason Icann can operate the entire World Wide Web root zone is that it has the status of a legal monopolist, stemming from its contract with the Commerce Department that makes Icann an “instrumentality” of government.

http://www.wsj.com/articles/an-internet-giveaway-to-the-u-n-1472421165

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The Real War on Women: No Global Conference from the UN?

Yazidi Women

Yazidi Women Tell of Rape and Enslavement at Hands of ISIS

by KELLY COBIELLA, YUKA TACHIBANA and BEN ADAMS

KHANKE CAMP, Iraq — The grandmother lifted her face to heaven and let out a high wail.

“I pray for this hell to end,” the 64-year-old said before crumpling onto the floor of her hut.

Kimy Hassan Sayfo. Yuka Tachibana / NBC News

Kimy Hassan Sayfo’s daughters and granddaughters have been held captive by ISIS. Two daughters recently escaped but extremist fighters have kept her young granddaughters “for themselves,” she said.

Her story echoes those of countless others across this vast tent city full ofYazidis, a tiny and ancient religious minority reviled and persecuted by ISIS.

More than 3,000 women and girls were taken captive when ISIS attacked ancestral Yazidi villages around northwestern Iraq’s Sinjar Mountain in August 2014. Nearly half-a-million people have been displaced since, according to the Kurdistan Regional Government’s Yazidi Affairs Directorate.

Today, community leaders say around 2,000 women and girls are still being bought and sold in ISIS-controlled areas. The young become sex slaves and older women are beaten and used as house slaves, according to survivors and accounts from ISIS militants.

“SOME ARE SOLD FOR WEAPONS, OR FOR JUST $10, OR 10 CIGARETTES.”

“Aveen” was among the countless who were taken. She told NBC News how ISIS fighters separated the men from women and children when her village was attacked.

“They took young girls, seven, nine and 10 years old,” said Aveen, whose name has been changed and face hidden to protect her identity.

The women and children were held in a school where, she said, the guards would come at night to take away women and rape them.

Aveen said she spent most of her time with ISIS in Raqqa, held by a fighter who raped and beat her repeatedly. The 23-year-old escaped after nearly a year in captivity.

http://www.nbcnews.com/storyline/isis-uncovered/yazidi-women-tell-rape-enslavement-hands-isis-n462091

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Dr. Tim Ball in his new book, “The Deliberate Corruption of Climate Science”.

abominable-snowman-520169

BY BRITTANY SOARES

“It is the greatest deception in history and the extent of the damage has yet to be exposed and measured,” says Dr. Tim Ball in his new book, “The Deliberate Corruption of Climate Science”.

Dr. Ball has been a climatologist for more than forty years and was one of the earliest critics of the global warming hoax that was initiated by the United Nations environmental program that was established in 1972 and the Intergovernmental Panel on Climate Change (IPCC) established in 1988.

Several UN conferences set in motion the hoax that is based on the assertion that carbon dioxide (CO2) was causing a dramatic surge in heating the Earth. IPCC reports have continued to spread this lie through their summaries for policy makers that influenced policies that have caused nations worldwide to spend billions to reduce and restrict CO2 emissions.

Manmade climate change—called anthropogenic global warming—continues to be the message though mankind plays no role whatever.

http://www.thefederalistpapers.org/us/the-truth-about-climate-change-liberals-dont-want-you-to-know

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5 problems facing UN as it nears 70th anniversary

quota.and_.un_.1

5 problems facing UN as it nears 70th anniversary
By EDITH M. LEDERER
Associated Press

UNITED NATIONS (AP) — The world has changed dramatically since the United Nations was established after World War II but the organization has not adapted to reflect the 21st century.

While the U.N. has had its share of successes, its aging structure has struggled with new threats like Ebola and terrorist groups that control large areas of its member countries. U.N. members have been discussing change for decades, but agreement has proven impossible because of competing interests.

As it approaches its 70th anniversary next year, here are five problems facing the United Nations:

OUTDATED POWER STRUCTURE

The same five countries – the victors of WWII – have been the power players since 1945: the United States, Russia, China, Britain and France. They are the only permanent members of the powerful, 15-seat Security Council. Each has veto power, which has led to near-paralysis at the council on some major crises like Syria and Ukraine.

Critics say the council simply doesn’t represent the world today. At its inception, the U.N. had 51 member states. It now has 193, many of them clamoring for more clout. All countries are represented in the General Assembly, but that body can only pass non-binding resolutions.

Often mentioned as countries deserving of permanent Security Council seats are Germany, Japan, India, South Africa, Nigeria, and Brazil. But there are no signs the big five intend to give up any power or share it with more countries.

http://hosted.ap.org/dynamic/stories/U/UN_UNITED_NATIONS_FIVE_PROBLEMS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-12-01-13-18-06