Whitney Sees Credit Cards as the Next Crunch: Report
Key Excerpts from Article on Website of CNBC
Whitney Sees Credit Cards as the Next Crunch: Report
CNBC, March 10, 2009
Posted: 2009-03-21 09:47:18
http://www.cnbc.com/id/29611789/
Prominent banking analyst Meredith Whitney warned that "credit cards are the next credit crunch," as contracting credit lines will lower consumer spending and hurt the U.S. economy. "Few doubt the importance of consumer spending to the U.S. economy and its multiplier effect on the global economy, but what is under-appreciated is the role of credit-card availability in that spending," Whitney wrote in the Wall Street Journal. Although credit was extended "too freely over the past 15 years" and rationalization of lending is unavoidable, what needs to be avoided was "taking credit away from people who have the ability to pay their bills," said Whitney, CEO of Meredith Whitney Advisory Group. Whitney said available lines were reduced by nearly $500 billion in the fourth quarter of 2008 alone, and she estimates over $2 trillion of credit-card lines will be cut within 2009, and $2.7 trillion by the end of 2010. "Inevitably, credit lines will continue to be reduced across the system, but the velocity at which it is already occurring and will continue to occur will result in unintended consequences for consumer confidence, spending and the overall economy," Whitney said. There is roughly $5 trillion in credit-card lines outstanding in the U.S., and a little more than $800 billion is currently drawn upon, she said. "Lenders, regulators and politicians need to show thoughtful leadership now on this issue in order to derail what I believe will be at least a 57 percent contraction in credit-card lines," she said.
Note: Some believe that rising defaults on credit card debt could cause yet another financial shock to the system. For many more revelations of the amazing realites of the Wall Street bailout and the now world-wide financial and credit crises, click here.
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U.S. Military Wanted to Provoke War With Cuba
2001-05-01, ABC News
http://abcnews.go.com/US/story?id=92662
In the early 1960s, America's top military leaders reportedly drafted plans to kill innocent people and commit acts of terrorism in U.S. cities to create public support for a war against Cuba. Code named Operation Northwoods, the plans reportedly included the possible assassination of Cuban emigres, sinking boats of Cuban refugees on the high seas, hijacking planes, blowing up a U.S. ship, and even orchestrating violent terrorism in U.S. cities. The plans were developed as ways to trick the American public and the international community into supporting a war to oust Cuba's ... Fidel Castro. America's top military brass even contemplated causing U.S. military casualties, writing: "We could blow up a U.S. ship in Guantanamo Bay and blame Cuba," and, "casualty lists in U.S. newspapers would cause a helpful wave of national indignation." The plans had the written approval of all of the Joint Chiefs of Staff and were presented to President Kennedy's defense secretary, Robert McNamara, in March 1962. But they apparently were rejected by the civilian leadership and have gone undisclosed for nearly 40 years. The Joint Chiefs even proposed using the potential death of astronaut John Glenn during the first attempt to put an American into orbit as a false pretext for war with Cuba. Should the rocket explode and kill Glenn, they wrote, "the objective is to provide irrevocable proof ... that the fault lies with the Communists." The scary thing is none of this stuff comes out until 40 years after.
Note: Why was ABC the only major news source to report on this highly revealing story? Read the shocking declassified documents on Operation Northwoods. Many military and political leaders look at the world as a grand chessboard. Sacrificing pawns (innocent civilians) is sometimes necessary to capture the queen. Explore revealing news articles on military corruption. Then check out eye-opening 9/11 news articles.
Inside the secretive Bilderberg Group
2005-09-29, BBC News
http://news.bbc.co.uk/1/hi/world/americas/4290944.stm
How much influence do private networks of the rich and powerful have on government policies and international relations? One group, the Bilderberg, has often attracted speculation that it forms a shadowy global government. Every year since 1954 [they have brought] together about 120 leading business people and politicians. At this year's meeting in Germany, the audience included the heads of the World Bank and European Central Bank, Chairmen or Chief Executives from Nokia, BP, Unilever, DaimlerChrysler and Pepsi ... editors from five major newspapers, members of parliament, ministers, European commissioners ... and the queen of the Netherlands. The chairman ... is 73-year-old Viscount Etienne Davignon. In an extremely rare interview, he played down the importance of Bilderberg. "I don't think (we are) a global ruling class because I don't think a global ruling class exists." Will Hutton ... who attended a Bilderberg meeting in 1997, says people take part in these networks in order to influence the way the world works, to create what he calls "the international common sense". And that "common sense" is one which supports the interests of Bilderberg's main participants. For Bilderberg's critics the fact that there is almost no publicity about the annual meetings is proof that they are up to no good. Bilderberg meetings often feature future political leaders shortly before they become household names. Bill Clinton went in 1991 while still governor of Arkansas, Tony Blair was there two years later while still an opposition MP. All the recent presidents of the European Commission attended Bilderberg meetings before they were appointed. Informal and private networks like Bilderberg have helped to oil the wheels of global politics and globalisation for the past half a century.
Note: Why is this meeting of top world leaders kept so secret? Why, until a few years ago, was there virtually no reporting on this influential group in the major media? Thankfully, the alternative media has had some good articles. And a Google search can be highly informative. Explore many other revealing major media news articles on powerful secret societies. And for those interested, check out reliable, eye-opening information covering the big picture of how and why these secret societies are using government-sponsored mind control programs to achieve their agenda.
[9/11] Hijack 'suspects' alive and well
2001-09-23, BBC News
http://news.bbc.co.uk/1/hi/world/middle_east/1559151.stm
Another of the men named by the FBI as a hijacker in the [9/11] suicide attacks on Washington and New York has turned up alive and well. The identities of four of the 19 suspects accused of having carried out the attacks are now in doubt. Saudi Arabian pilot Waleed Al Shehri was one of five men that the FBI said had deliberately crashed American Airlines flight 11 into the World Trade Centre on 11 September. His photograph was released, and has since appeared in newspapers and on television around the world. He told journalists there that he had nothing to do with the attacks. He has contacted both the Saudi and American authorities. He acknowledges that he attended flight training school at Daytona Beach in the United States, and is indeed the same Waleed Al Shehri to whom the FBI has been referring. But, he says, he left the United States in September last year [and] became a pilot with Saudi Arabian airlines. Abdulaziz Al Omari, another of the Flight 11 hijack suspects ... says he is an engineer with Saudi Telecoms, and that he lost his passport while studying in Denver. Meanwhile ... a London-based Arabic daily says it has interviewed Saeed Alghamdi. He was listed by the FBI as a hijacker in the United flight that crashed in Pennsylvania. And there are suggestions that another suspect, Khalid Al Midhar, may also be alive. FBI Director Robert Mueller acknowledged on Thursday that the identity of several of the suicide hijackers is in doubt.
Note: The deceptions in the 9/11 official story are clearly shown in this key story. The FBI never revised its list of alleged hijackers. These four are all listed in the official 9/11 Commission report as the hijackers. Click here and scroll down a little over half way to see their photos in the official report. For more, see this webpage. Explore also concise summaries of deeply revealing news articles with evidence of a 9/11 cover-up from reliable major media sources. Then examine an abundance of reliable information suggesting a major 9/11 cover-up.
The above three are excerpts from the 20 most revealing news articles ever published.
Below is a sample of the three articles most recently posted to this website.
Meta is the world's â€single largest marketplace for paedophiles', says New Mexico attorney general
2024-01-31, The Guardian (One of the UK's Leading Newspapers)
https://www.theguardian.com/global-development/2024/jan/31/meta-worlds-single...
The New Mexico attorney general, RaĂşl Torrez, who has launched legal action against Meta for child trafficking on its platforms, says he believes the social media company is the "largest marketplace for predators and paedophiles globally". The lawsuit claims that Meta allows and fails to detect the trafficking of children and "enabled adults to find, message and groom minors, soliciting them to sell pictures or participate in pornographic videos", concluding that "Meta's conduct is not only unacceptable; it is unlawful". Torrez says that he has been shocked by the findings of his team's investigations into online child sexual exploitation on Meta's platforms. Internal company documents obtained by the attorney general's office as part of its investigation have also revealed that the company estimates about 100,000 children using Facebook and Instagram receive online sexual harassment each day. The idea of the lawsuit came to [Torrez] after reading media coverage of Meta's role in child sexual exploitation, including a Guardian investigation that it was failing to report or detect the use of Facebook and Instagram for child trafficking. If it progresses, the New Mexico lawsuit is expected to take years to conclude. Torrez wants his lawsuit to provide a medium to usher in new regulations. "Fundamentally, we're trying to get Meta to change how it does business and prioritise the safety of its users, particularly children."
Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and sexual abuse scandals from reliable major media sources.
The Vile Sextortion and Torture Ring Where Kids Target Kids
2024-02-20, Vice
https://www.vice.com/en/article/7kxjnz/the-vile-sextortion-and-torture-ring-w...
764 has been responsible for horrific abuse and blackmail across the globe. It's a network of online communities using several social media platforms (primarily Telegram, where the recruitment and spread of content occur, and Discord, where the actual abuse and grooming take place). The engine behind this nightmare factory is sextortion, a form of blackmail that's becoming increasingly prevalent. It refers to a predator convincing a victim to send sexually explicit images of themselves, and then using that to bend the victim to their will–this most commonly involves money but can, for instance, involve threatening to send pictures to the victim's parents if they don't cut themselves. In many cases, these demands involve the creation of child sexual abuse material, or CSAM, and "hurtcore" content, which focuses on the non-simulated infliction of pain and humiliation on children, typically toddlers. The members of 764 boast that they have left thousands of children traumatized. [Discord] removed 37,000 accounts for child safety in the last quarter of 2022; that number exploded to 116,000 in the final quarter of 2023. The FBI said that from October 2021 to March 2023 it received over 13,000 reports of sextortion of minors, which led to "at least 20 suicides." There are also tools like Take It Down, which youths can anonymously use to aid them in removing content that is being used to abuse them. The tool works by issuing a unique digital fingerprint to content, which platforms can use to track the image and take it down. This can be done without informing a parent or law enforcement or giving any sort of personal information.
Note: For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals and mind control from reliable major media sources.
The Dark Side of Nickelodeon
2024-03-22, Newsweek
https://www.newsweek.com/nickelodeon-dark-side-dan-schneider-brian-peck-1881413
It prides itself on offering an "assortment of family-friendly programming." For Alexa Nikolas, however, Nickelodeon's claims concealed a darker truth. She says young stars were exploited into taking part in sexually suggestive scenes. "Kids are groomed into thinking that the lines that they're doing are pretend, that it's not real life," the star, who played Nicole Bristow on the Nickelodeon TV series Zoey 101, [said]. Nikolas spoke out in the wake of docuseries Quiet on Set: The Dark Side of Kids TV, which aired on the Investigation Discovery channel ... and exposed the "toxic culture" and alleged abuse on the set of some of Nickelodeon's biggest shows. In addition to Nikolas, several former child stars have spoken out, claiming sexual assault and harassment while working for the channel. Drake & Josh star Drake Bell speaks publicly for the first time about being repeatedly molested by his dialogue coach, Peck, when he was 15. "I was sleeping on the couch where I usually sleep and I woke up to him... I opened my eyes and I woke up and he was...he was sexually assaulting me." Bell claimed the abuse occurred more than once and said he was scared to report it. He explained: "And it just got worse, and worse, and worse, and worse, and I was just trapped. I had no way out. The abuse was extensive and it got pretty brutal." The four-part docuseries documents the child sexual abuse committed by assistant Jason Handy, dialogue coach Brian Peck, and studio freelancer Ezel Channel, as well as the alleged abusive and misogynistic behavior of showrunner Dan Schneider.
Note: Read more about the disturbing history of child sex abuse in Hollywood from the courageous voices of actor Corey Feldman and Lord of the Rings star Elijah Wood. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and sexual abuse scandals from reliable major media sources.
The above three are excerpts from the news stories most recently posted to this website.
Explore our index to revealing excerpts of news articles on several dozen topics.
Don't miss amazing excerpts from the 20 most revealing news articles ever published.