The Great Rebalancing: 10 Things To Watch In 2013

Submitted by Tyler Durden: The great trade, capital flow and debt imbalances that were built up over the preceding two decades must reverse themselves. Michael Pettis notes, however, that these imbalances can continue for many years, but at some point they become unsustainable and the world must adjust by reversing those imbalances. One way or the other, in other words, the world will rebalance. But there are worse ways and better ways it can do so. Pettis adds that, any policy that does not clearly result in a reversal of the deep debt, trade and capital imbalances of the past decade is a policy that cannot be sustained. It is likely to be political considerations that determine how quickly the rebalancing processes take place and whether they do so in ways that set the stages for future growth or future stagnation. Pettis' guess is that we have ended the first stage of the global crisis, and most of the deepest problems have been identified. In 2013 we will begin to see how policymakers respond and what the future outlook is likely to be. The following 10 themes are what he will be watching this year in order to figure out where we are likely to end up.
Authored by Michael Pettis: What I'll Be Watching In 2013,

I’ll be watching a number of things in 2013 in order to get a better sense of what the future will bring. On January 22 Princeton University Press will be publishing my book, The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead, and in the last chapter of the book I argue that the great trade, capital flow and debt imbalances that were built up over the preceding two decades must reverse themselves. Imbalances can continue for many years, I argue, but at some point they become unsustainable and the world must adjust by reversing those imbalances.

US Government Spying On 9/11 Attorneys

RT: Detainees being held at the Guantanamo Bay gulag facility and their defense attorneys are reporting both the United States government and Gitmo guards alike this week of infringing on the inmates’ rights by conducting illegal surveillance.

Only days after lawyers representing alleged terrorists accused the government of spying on confidential inmate-attorney conversations by using hidden microphones placed in meeting rooms within the facility, the counsel for Yemen national Walid bin Attash said on Thursday that her client’s private legal papers were improperly removed from his Gitmo prison cell when he attended a recent court hearing.
Bin Attash was appearing before the military court on Tuesday, attorney Cheryln Bormann claimed early Thursday, when his Gitmo cell was allegedly ransacked and legal documents were removed.
“The guard force was in fact seizing privileged communications,” Bormann said, according to Bloomberg News.
During a heated moment amid Thursday morning’s hearing, an unshackled bin Attash stood up in the court and spontaneously addressed Army Col. James Pohl, the military judge presiding over the case.
"In the name of God, there is an important thing for you," bin Attash said before being silenced by the judge.
According to an Associated Press report, Col. Pohl told bin Attash that he had to remain quiet unless testifying from the witness stand, to which the inmate fired back, "I'm not here to testify.”

Horsemeat Burger vs Dutch Sandwich - Max Keiser with David Graeber

Max Keiser and Stacy Herbert discuss the honkey infestation causing an inflationary vortex and the Dutch sandwich being the financial equivalent of a horsemeat burger. And how the FSAs - the Financial Services Authority and the Food Standards Agency - operate with a similar cover up mentality. In the second half of the show, Max Keiser talks to anthropologist, David Graeber, author of Debt: The First 5000 Years, about the dollar, a war backed currency, being displaced by gold and about who killed Aaron Swartz and why. Source

Jewish Man Exposes Israel's Lies

Britz4Gaza: The General's Son. Miko Peled is a peace activist who dares to say in public what others still choose to deny. Born in Jerusalem in 1961 into a well known Zionist family, his grandfather, Dr. Avraham Katsnelson was a Zionist leader and signer of the Israeli Declaration of Independence. His Father, Matti Peled, was a young officer in the war of 1948 and a general in the war of 1967 when Israel conquered the West Bank, Gaza, Golan Heights and Sinai.
Miko's unlikely opinions reflect his father's legacy. General Peled was a war hero turned peacemaker.

'US heading for Greece-style debt crisis' - Marco Pietropoli with Rollin Amore and Karl Denninger

An analyst says the US is heading toward a Greece-style debt crisis in a few years with its current economic policies. The comments come as new figures released by the official Bureau of Economic Analysis reveals that the US economy shrank at an annual rate of 0.1 percent in the last quarter of 2012.

Sandy Hoax No Indignant Parents + Sandy Hoax For Disarming Veterans

Morris: Why are there no parents screaming and shouting "How dare you say my child didn't die!"?

Deaths, lies and the NHS: Shocking new healthcare scandals emerge in UK

RT: A British health manager warned the boss of the NHS four years ago that his hospital was a threat to patients’ safety. A nationwide investigation into avoidable hospital deaths has found that such warnings from doctors were often silenced or ignored.

­Gary Walker, the former chief of United Lincolnshire Hospitals Trust, was silenced in 2010 under a £500,000 ‘super gag’ agreement; he is now risking legal action by the NHS by speaking out. Walker reportedly received the payment last year; his former employer now faces a major investigation over its unusually high death rates, in the midst of the Stafford inquiry fallout.
Walker said that the chief of the NHS chief was “not interested in patient safety,” and called on him to resign to end the “culture of fear” he had created in the NHS, Britain’s Daily Mail reported.
Walker spoke to the BBC in an exclusive interview for its ‘Today’ show on Radio 4, in which he explained that his hands had been tied: “I was in danger of losing my house – I have children to support. And one thing you must remember that if you're attacking the very top of the NHS the sanctions are pretty dramatic.”

UK people's buying power lowest in 10 years

liarpoliticians: Thanks to the crimes committed by the Bank of England and British Government, the buying power of people in work is the lowest in 10 years, and it's still dropping. So carry on the fraud and corruption that is Quantitative Easing money printing, near zero interest rates, and massive UK Pound devaluation.... makes you feel wich doesn't it? Source

Israeli regime blackmailing Palestinians into working as spies

Press TV: To put more pressure on besieged Palestinians, Israel has increased its pressure on patients seeking medical treatment outside of the enclave.

Patients who require medical treatment abroad are systemically interrogated and blackmailed into working as spies for Tel-Aviv in turn for them to be granted exit permits.

Insurgents are destroying Syria's infrastructure: Assad

Press TV: Syrian President Bashar al-Assad says foreign backed insurgents are systematically destroying the country's infrastructure. Source

LAPD Pulls A Waco on Dorner - "BBQ-ing of Dorner Waco Style!"

Alex talks about the media cover-up the LAPD's deliberate Waco-like torching of murder suspect and former cop Chris Dorner. He also talks about Obama's State of the Union address, his proposal for indoctrinating kids at an earlier age, and his plan to impose even more unconstitutional executive orders on the American people. He also takes your calls on today's worldwide broadcast. Source

Portable Kamikaze Drones: Army Buys $5 Million Dollars Worth