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Generational Dynamics Web Log for 5-Mar-2012
5-Mar-12 World View -- China announces new military spending surge, blames it on neighbors

Web Log - March, 2012

5-Mar-12 World View -- China announces new military spending surge, blames it on neighbors

Obama Justice Dept. still refuses to prosecute banksters for fraud

This morning's key headlines from GenerationalDynamics.com.

North Korea declares 'high alert' and threatens 'sacred war' again
China announces new military spending surge, blames it on neighbors
Obama Justice Dept. still refuses to prosecute banksters for fraud
Vladimir Putin wins Russia's presidential election decisively

North Korea declares 'high alert' and threatens 'sacred war' again

North Korean chicks punch their fists into the air during a Pyongyang anti-South Korea rally

North Korean chicks punch their fists into the air during a Pyongyang anti-South Korea rally

Apparently playing to a domestic audience, Kim Jong-un, the new child-dictator of North Korea, visited the demilitarized zone (DMZ) separating North and South Korea, ordering troops to be on high alert. Meanwhile, North Korea's military chief Ri Yong-Ho led a huge anti-South Korea rally in Pyongyang, where he repeated last week's threat of a "sacred war" against the South: "We again declare to the world that we will launch indiscriminate and sacred war to wipe out the enemy traitors!" The traitors he was referring to are South Korean officials, whom he called "mad dogs" and "psychos". AFP

China announces new military spending surge, blames it on neighbors

China announced a new 11.2% increasing in military spending this year. Military spending has more than doubled since 2006. China blames the rise on "a neighborhood where it doesn't have any natural allies or friends." China has been making claims that large regions in the South China Sea are sovereign property of China, even though many of these regions have historically belonged to other countries, including Vietnam and the Philippines. So the unfriendly neighbors are the ones that China's sovereignty claims over these islands. Bloomberg

Obama Justice Dept. still refuses to prosecute banksters for fraud

The bipartisan Financial Crisis Inquiry Commission, headed by Phil Angelides, held hearings throughout 2010, and issued a report in January, 2011, identifying specific cases of apparent illegal activities by banksters. I described some of that evidence in my April, 2010, article "Financial Crisis Inquiry hearings provide 'smoking gun' evidence of widespread criminal fraud." And yet, the Justice Department, headed by Gen-Xer Attorney General Eric Holder, working for Gen-Xer President Barack Obama, absolutely and steadfastly refused to investigate the banksters' activities. In a New York Times op-ed three days ago, Phil Angelides wrote:

"One example: The Financial Crisis Inquiry Commission’s report contains evidence about Clayton Holdings, a company hired by more than 20 major financial institutions to perform “due diligence” on mortgage loans those companies were buying, bundling and selling. Clayton sampled 2 to 3 percent of those mortgages and found a significant number of defective loans. Yet the other 97 percent were not sampled, and that fact and the information about loan defects were never disclosed to investors — “raising the question,” the report noted, “of whether the disclosures were materially misleading, in violation of securities laws.”
In numerous court cases, plaintiffs, including the Federal Housing Finance Agency, have cited this evidence to support their claims of fraud and misrepresentation. But, inexplicably, there is no indication that the Justice Department promptly convened a high-level investigation to thoroughly examine who knew what when at these banks. In contrast, after the savings-and-loan debacle of the late 1980s, more than 1,000 bank and thrift executives were convicted of felonies. But today the rate of federal prosecutions for financial fraud is less than half of what it was then."

Angelides calls this "inexplicable," but it can be explained both politically and generationally. Politicians receive enormous sums of money from banksters, and they'd rather pocket the illegal gotten money rather than prosecute the perpetrators. And more importantly, Gen-Xer prosecutors refuse to investigate and prosecute other Gen-Xers for committing crimes. The reason that the Gen-X culture is dangerous and toxic is not because Gen-Xers are more dishonest than Boomers or Silents, but because the few Gen-Xers who commit crimes can do so freely with almost no fear of prosecution. As I described in "The Legacy of World War I and the Holocaust," this is the same kind of generational behavior that occurred in Nazi Germany, when ordinary Germans refused to oppose Hitler's plans to exterminate the Jews. The result today is the financial crisis, which has barely begun. NY Times

Vladimir Putin wins Russia's presidential election decisively

Vladimir Putin scored a decisive victory, with over 60% of the vote, in Russia's presidential election Sunday to return to the Kremlin for six more years. However, there were widespread accounts of vote-rigging. According to one election observer, "There was ballot box stuffing. There were all sorts of manipulation of the election commissions at the local level." There were accounts of extensive vote-rigging in last December's parliamentary elections, giving rise unprecedented protests and an opposition movement that is now expected to continue. CBS/AP

(Comments: For reader comments, questions and discussion, see the 5-Mar-12 World View -- China announces new military spending surge, blames it on neighbors thread of the Generational Dynamics forum. Comments may be posted anonymously.) (5-Mar-2012) Permanent Link
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Generational Dynamics Web Log for 5-Mar-2012 5-Mar-12 World View -- China announces new military spending surge, blames it on neighbors

North Korea declares 'high alert' and threatens 'sacred war' again

China announces new military spending surge, blames it on neighbors

Obama Justice Dept. still refuses to prosecute banksters for fraud

Vladimir Putin wins Russia's presidential election decisively

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Generational Dynamics Web Log for 5-Mar-2012
5-Mar-12 World View -- China announces new military spending surge, blames it on neighbors