International Forecaster Weekly

Dupont To Walk Away From Pension Obligations

Dupont to walk away from pension obligations... US Plans for Iran... the man who would be King of America, in his own  mind... Housing off wildly in US markets... tips for places for your assets.... Bush lies to cover up torture in secret prisons... lies to hide torture and murder

Bob Chapman | September 9, 2006

As we mentioned recently, since recent new legislation, Dupont has been the first major corporation to walk away from its pensions. This portends major problems for 20% of retirees. The pension kept the employee with the employer. The plan costs were borne by the employer and that cut profits. In as much as most stock is owned by the rich they were much more interested in the corporate bottom line and share price than they are in employee benefits and longevity. Most plans will be discarded and the worker using defined contribution plans will have to manage his or her retirement, which will be disastrous for the worker who has no financial training. He might just as well go to Las Vegas for results. This is just another way of taking America financially to its knees. The elitists have more control this way and proves to you exactly where they are headed.

We believe the US and Israel are going to use ground troops in Iran that is why there is the present buildup of troops by the US and UK in Iraq. The Brits have their troops on the Syrian border already. That is why Iran will have training exercises through October. We might mention again, military exercises were just held by Russia, Kazakhstan, Kyrgyzstan and Tajikistan. Azerbaijan and Georgia have military agreements with the US, as does Turkey. Israeli Special Forces have been operating in Turkey in the mountains bordering Iran since last year.

Shortly the US will have 157,000 troops in Iraq plus 20,000 mercenaries. Australia and Canada say they will be committing troops. Britain is sending more troops as well. The US and Israel expect US troops will be moved from Iraq into Iran probably during the fist six months of next year. This coming war is based on the falsehood that Iran has or will have nuclear weapons, which is a lie. Just ask the IAEA, the International Atomic Energy Commission. The disinformation machine is running in high gear. The bogus terrorist plot in England to blow up 10 planes is ludicrous. It’s to make the West believe they are under attack and give Tony Blair and George Bush political mileage. Preemptive war and regime change are criminal acts. Israel hasn’t been attacked; they attacked on a bogus basis. Worse yet, as a ceasefire was being arranged they were dropping cluster bombs into civilian areas. The main targets in that environment are little children – what great humanitarians. This is nothing but fear and intimidation. NATO, which will supply the UN Forces has a military cooperation agreement with Israel. How objective will they be? They won’t of course. They are in bed with the US and Israel. The US and Israel will use nuclear weapons, you can count on it. You can count on a worldwide conflict that will kill half the world’s population.

This is a war logistically that neither Israel or the US can supply nor can they supply enough troops. The US would move to take over oil in the Caspian and that could bring Russia and China into the fray.

As we told you in previous issues, George W. Bush thinks he is King of America. He would use this conflict to implement Martial law and anyone who has been a dissenter will be put in an internment camp without charges.

We don’t know that all this will happen, but we are positive that this is what these megalomaniacs have planned. Don’t be deceived – contact Congress and let them know we know what you are doing and had best stop it.

As you all know we have been short the housing stocks and generally speaking they are off 50%. They probably have another 25% to go on the downside. Housing led the economy up and it is leading it down. There won’t be another bubble for some time to come. Anyone who is left on the long side of the general market should have sold or be selling. If you have retirement funds that you can direct or sell, go to a money market fund or something in gold and silver related assets if available. Force yourself to make the changes. The “new era” – the “goldilocks” markets are finished for some time to come.

The economy is in a precarious and perilous situation. Interest rates are rising to combat rampant inflation and to keep their economies from collapsing. Central banks are increasing money and credit by 9% to 10%. In six years $4.6 trillion in equity has been withdrawn from real estate. Most of that money has been spent and savings are -1.7%. That was quite a spree. Consumption went mad and there is nothing left for a rainy day. We can thank the Fed for this performance and we can also thank them for the coming depression. Isn’t it about time we got rid of the Fed and sentenced it to the scrap heap of history? It sure is.

What is the answer? It’s gold and silver related assets, being short the market, long commodities and for those with large amounts of money be long Treasury notes of Switzerland and Canada.

In a sign that the labor market isn’t creating enough of the right kind of jobs, the number of people collecting state unemployment benefits over the past four weeks rose to the highest level since February. Continuing jobless claims rose by 15,000 to 2.49 million in the week ended August 26. New filings fell 9,000 to 310,000. The 4-week average of initial claims fell 3,000 to 315,250.

Falling house prices have created a new twist in the suburban Boston real estate market. More homes are selling for less than their assessed values. Boston was one of the first hot markets to break, so developments there could indicate what might happen in other markets as the decent of prices takes hold.

Massachusetts house prices slumped 3.5% in July, the biggest monthly drop since 1993. Due to the gut of homes for sale on the market, prices are falling below assessments. Now, no one is paying any attention to assessed value. In the stable community of Newton 16.5% of homes sold below assessment between January and June, up from 10% the prior two years. Assessments lag the actual market by 1-1/2 years, which means assessments will continue to rise over the next year or so. Over that period assessments will be further apart from actual prices, so do not be surprised.

In the $1 million-plus house market in greater Boston, sales plunged 62% this year.

This week our President referred to a strategy that the administration had been following since 9/11. He said terrorism springs from subcultures. We are part of that subculture.

The confidence levels of CEO’s of small and medium sized companies have fallen to a 3-year low, a sign that the backbone of the nation’s economy is feeling the strain of the feared economic slowdown.

Our President has acknowledged for the first time that the CIA runs secret prisons at undisclosed locations around the world. He said two of the alleged architects of 9/11 have been transferred from these jails outside the US to Guantanamo Bay to face trials by proposed new military commissions. Some 14, our President tells us, have given CIA interrogators (torturers) information that foiled terrorist attacks in the US and around the world. Our President is a liar. He says, “But the US does not torture. It’s against our laws and it’s against our values. I have not authorized it and I will not authorize it.” This man believes his own lies, he’s a sociopath.

Our President admits the CIA practiced illegal kidnapping and detention. He has exposed not only his own previous lies, but he also exposes to ridicule those arrogant government leaders in Europe who dismissed as unfounded the world’s fears about extraordinary rendition. Now supposedly there are new standards that forbids US troops and uses Article 3 of the Geneva Conventions to prevent forced nudity, hooding, military dogs and water boarding, which simulates drowning. After our observations we do not believe a word of it. They will still torture and murder.