Headlines
Allheadlinenews.com - Obama To Decide "Shortly" On Additional Troop Levels For Afghanistan (1)
The Associated Press - Calif. budget stalemate sets up fiscal calamity (2)
CNN Politics.com - Clinton warns against N. Korean missile launch (3)
The New York Times - G.M. Presses Union for Cuts in Health Care (4)
International
Guardian.co.uk - Australian bushfires death toll reaches 200 (1)
timesonline.co.uk - Deflation nears as living costs hit 49-year low (2)
The Inter Press Service News Agency - VENEZUELA: Ten More Years, If He Can Woo a Divided Country (3)
novinite.com - Kosovo Marks First Independence Day amidst Serious Ethnic Tension (4)
BBC Asia Pacific- Landmark Khmer Rouge trial starts (5)
Tuesday, February 17, 2009
Monday, February 16, 2009
Headlines of the Day
Freep.com - New team will steer a new auto industry (1)
Newsday.com - Officials: Plane that crashed near Buffalo on autopilot (2)
Bloomberg.com - Japan’s Economy May Shrink 20% This Quarter, Institute Says (3)
The New York Times - Clinton, in Asia, Takes Softer Tone on North Korea (4)
International
Bloomberg - India Leaves Economic Stimulus Responsibility to New Government (1)
voanews.com - Chavez Celebrates End to Venezuela Term Limits (2)
BBC World - 'US missile strikes' hit Pakistan (3)
Timesonline.uk - Mystery fireball baffles witnesses in Texas (4)
Reuters - FOREX-Dollar, yen gain as recession fears grow (5)
Winina Daily News.com - A future uncertain: Dairy farmers fight dropping milk prices (6)
Freep.com - New team will steer a new auto industry (1)
Newsday.com - Officials: Plane that crashed near Buffalo on autopilot (2)
Bloomberg.com - Japan’s Economy May Shrink 20% This Quarter, Institute Says (3)
The New York Times - Clinton, in Asia, Takes Softer Tone on North Korea (4)
International
Bloomberg - India Leaves Economic Stimulus Responsibility to New Government (1)
voanews.com - Chavez Celebrates End to Venezuela Term Limits (2)
BBC World - 'US missile strikes' hit Pakistan (3)
Timesonline.uk - Mystery fireball baffles witnesses in Texas (4)
Reuters - FOREX-Dollar, yen gain as recession fears grow (5)
Winina Daily News.com - A future uncertain: Dairy farmers fight dropping milk prices (6)
Tuesday, February 10, 2009
Judging from the market reaction to the much anticipated Obama banking rescue package, the plan has been a huge fiasco. The Dow Industrials index dropped 381 points as investors spurned the plan described as short on details and enormously complicated. Geitner in his press conference said that this plan would strive to create an alliance between public and private finance to invest almost a trillion dollats to buy off bad assets from troubled banks and expand loans to consumers and businesses. Read an article by the Wall Street Journal on this topic here.
With declining exports the Chinese economy is facing the risk of a huge upsurge in unemployment in 2009. According to the Financial Times, the Chinese government estimates that a massive 20 million of the approximately 130 million migrant workers have lost their jobs in the past couple of months. Access the Financial Times here. Reuters reported that China’s January Exports fell a staggering 17.5%. Access the Reuters report here.
Tehran celebrated the 30th anniversary of its Islamic revolution that led to the overthrow of the Shah and the return of the country's spiritual leader Ayatullah Khomeini. According to Iran's state media thousands of people gathered at Azadi or Freedom Square to express their enthusiasm and display their patriotism on a day that Iranians consider the day they became free from Western influence in domestic affairs. Access the Time article here.
Enormous fires countinue to rage in Australia in what has been described as the country's worst natural disaster in the past 110 years. So far, the fires have claimed atleast 181 lives and this number is likely to increase as government agencies continue to grapple with its fallout. Access this Reuters article here.
With declining exports the Chinese economy is facing the risk of a huge upsurge in unemployment in 2009. According to the Financial Times, the Chinese government estimates that a massive 20 million of the approximately 130 million migrant workers have lost their jobs in the past couple of months. Access the Financial Times here. Reuters reported that China’s January Exports fell a staggering 17.5%. Access the Reuters report here.
Tehran celebrated the 30th anniversary of its Islamic revolution that led to the overthrow of the Shah and the return of the country's spiritual leader Ayatullah Khomeini. According to Iran's state media thousands of people gathered at Azadi or Freedom Square to express their enthusiasm and display their patriotism on a day that Iranians consider the day they became free from Western influence in domestic affairs. Access the Time article here.
Enormous fires countinue to rage in Australia in what has been described as the country's worst natural disaster in the past 110 years. So far, the fires have claimed atleast 181 lives and this number is likely to increase as government agencies continue to grapple with its fallout. Access this Reuters article here.
Monday, February 9, 2009
Have we learnt the lessons from the Japnese lost decade? Nouriel Roubini, famously nicknamed Dr. Doom, and one of the very few economists who predicted the scale of this disastarous recession points out major differences between the Japnese experience and the American experiments since the crisis began in August 2007. His concludes by saying that the US and the global economy are teethering at the edge of a near-depression and if this is to be avoided the policy actions need to be 'bold, aggressive, sustainable and credible'. Access this Forbes article here.
Despite all the pre-election hoopla over the new president's foriegn policy little action has actually taken place. In the new administration's first diplomatic move Vice-President, Joe Biden visited Europe for the Munich security conference to meet with leaders and security experts from from Russia, France and Germany. Setting the tone for the new US foriegn policy Biden made it clear that the Obama administration will be accessible to its European allies and will be a lot more flexible than the previous administration. Access this BBC world edition article here.
The Russian economy is showing strains remniscent of the late nineties when the rouble went into a free fall and took with it a fragile Russian economy. According to Ellen Berry of the International Herald Tribune companies are starting to offer bartering deals in exchange for their manufactured goods. The most prominent case is that of the Hyundai factory in Taganrog which has offered to exchange vehicles for raw materials or commercial equipment. Access this International Herald Tribune article here.
Despite all the pre-election hoopla over the new president's foriegn policy little action has actually taken place. In the new administration's first diplomatic move Vice-President, Joe Biden visited Europe for the Munich security conference to meet with leaders and security experts from from Russia, France and Germany. Setting the tone for the new US foriegn policy Biden made it clear that the Obama administration will be accessible to its European allies and will be a lot more flexible than the previous administration. Access this BBC world edition article here.
The Russian economy is showing strains remniscent of the late nineties when the rouble went into a free fall and took with it a fragile Russian economy. According to Ellen Berry of the International Herald Tribune companies are starting to offer bartering deals in exchange for their manufactured goods. The most prominent case is that of the Hyundai factory in Taganrog which has offered to exchange vehicles for raw materials or commercial equipment. Access this International Herald Tribune article here.
Sunday, February 8, 2009
So what has Obama's impact been on the American pyche and its confidence? Not great, if you were to look at this Gallop poll. According to this poll a mere 17% of Americans are happy with the things are going in the country. Although these satisfaction ratings are above the worst ones seen during late 2008 Bush years, these are levels that have seldom been seen since the early nineties. Access the article here.
The never ending wrangling over the stimulus plan contunues. According to Paul Krugman President Obama started off on the wrong foot by attempting to 'transcend partisanship' in the two parties. In his opinion the Obama is being too defensive in his approach towards trying to gain consensus on the bill. Access this Krugman article here.
Over the last decade, while the United States has expended most of its diplomatic energy on the war against terrorism, China has calmly been penetrating and increasing its influence in the Africa. Chinese president Hu Jintao will be visiting four African nations - Mali, Senegal, Tanzania and Mauritius in February of this year. This is a continuation of the Chinese policy to develop better relations with the mineral rich continent. Access this article here.
John O'Connor lists some of the accomplishments and failures of Rod Blagojevich the Illinois governor since he took governorship in 2003. He reminds us that the governor Blagojevich took over from - Republican George Ryan, who is currently languishing in Jail also for corruption charges. He discusses Blagojevich's record on Ethics, Healthcare, Taxes, Education and Revenue. Access the article here.
Abdul Qadeer Khan, the architect of Pakistan’s nuclear weapons programme and the person responsible for the Nuclear Walmart phenomenon where he sold nuclear technology to Iran and North Korea and Libya was released after spending five years in house arrest. The United States expressed its displeasure over his release and according to a US state department spokesperson Gordon Duguid, Khan still remains a serious security risk to the world. Access this article here.
The new Treasury Secretary, Timothy Geitner ruffled a few feathers when he started his term with stringent criticism of China's currency policy, perhaps signalling the advent of an ugly of war of words that is likely to get worse as the economic crisis deepens. James Bacchus on Forbes discusses the imlplications of this likely trade war. Access the article here.
The never ending wrangling over the stimulus plan contunues. According to Paul Krugman President Obama started off on the wrong foot by attempting to 'transcend partisanship' in the two parties. In his opinion the Obama is being too defensive in his approach towards trying to gain consensus on the bill. Access this Krugman article here.
Over the last decade, while the United States has expended most of its diplomatic energy on the war against terrorism, China has calmly been penetrating and increasing its influence in the Africa. Chinese president Hu Jintao will be visiting four African nations - Mali, Senegal, Tanzania and Mauritius in February of this year. This is a continuation of the Chinese policy to develop better relations with the mineral rich continent. Access this article here.
John O'Connor lists some of the accomplishments and failures of Rod Blagojevich the Illinois governor since he took governorship in 2003. He reminds us that the governor Blagojevich took over from - Republican George Ryan, who is currently languishing in Jail also for corruption charges. He discusses Blagojevich's record on Ethics, Healthcare, Taxes, Education and Revenue. Access the article here.
Abdul Qadeer Khan, the architect of Pakistan’s nuclear weapons programme and the person responsible for the Nuclear Walmart phenomenon where he sold nuclear technology to Iran and North Korea and Libya was released after spending five years in house arrest. The United States expressed its displeasure over his release and according to a US state department spokesperson Gordon Duguid, Khan still remains a serious security risk to the world. Access this article here.
The new Treasury Secretary, Timothy Geitner ruffled a few feathers when he started his term with stringent criticism of China's currency policy, perhaps signalling the advent of an ugly of war of words that is likely to get worse as the economic crisis deepens. James Bacchus on Forbes discusses the imlplications of this likely trade war. Access the article here.
Thursday, February 5, 2009
President Obama is going all out in his effort to get the stimulus bill passed through the senate. Two senators - Senators Ben Nelson, Democrat of Nebraska and Susan Collins, Republican of Maine are leading an effort to accomodate republican concerns about the effectiveness and the excessive costs of the $ 900 billion dollar stimulus package. The democrats need atleast two republican votes to get the bill through. Read the New York Times report here.
Battle hardened Somali pirates claimed victory over the somali waters when they received a ransom of $3.2 million to released a Ukrainian ship - MV Faina, carrying soviet era arms and armaments. This problem is expected to escalate as the pirates still hold around 147 hostages on other ships. In the past couple of years the pirates have wreaked havoc over the waters claiming almost $80 million in ransom money. Access a CNN news report here.
According to this BBC world poll global attitudes towards Russia and China are worsening. This is a turnaround from last year's poll where most people looked at these two countries favorably. Around 40% of the participants from thirteen countries rated China negatively compared with 39% who view it positively. Russia did a lot worse. 42% view its influence negatively while a mere 30% view it as having a positive influence in the world. The United States still carries the distinction of being the worst of the three with a 43 % negative rating, but is an improvement over last years 47 %. Access this BBC news poll conducted by GlobeScan here.
Battle hardened Somali pirates claimed victory over the somali waters when they received a ransom of $3.2 million to released a Ukrainian ship - MV Faina, carrying soviet era arms and armaments. This problem is expected to escalate as the pirates still hold around 147 hostages on other ships. In the past couple of years the pirates have wreaked havoc over the waters claiming almost $80 million in ransom money. Access a CNN news report here.
According to this BBC world poll global attitudes towards Russia and China are worsening. This is a turnaround from last year's poll where most people looked at these two countries favorably. Around 40% of the participants from thirteen countries rated China negatively compared with 39% who view it positively. Russia did a lot worse. 42% view its influence negatively while a mere 30% view it as having a positive influence in the world. The United States still carries the distinction of being the worst of the three with a 43 % negative rating, but is an improvement over last years 47 %. Access this BBC news poll conducted by GlobeScan here.
Saturday, January 17, 2009
Understanding Bush
Eight years ago he spoke very passionately about improving schools for children, wanted to fix Medicare and social security, was committed to cleaning up Washington, took great pride in his religion and promised a humble foreign policy that does not indulge in nation building. Now he is handing over the mantle to a much younger Barrack Obama who carries on his shoulder the hopes and dreams of an exhausted nation, that above all, fervently hopes that he completely erases and undoes the last eight years of his presidency.
His countrymen have called him a liar, an ego maniac, downright dumb, and a disgrace to the nation, the Europeans have called him an illiterate bible wielding Osama Bin Laden and the entire Islamic world is calling him a crusader. So how will history judge the 43’rd president?
Let us start off by acknowledging that right from the onset of the presidency George W. Bush got an extremely bad draw of the cards. He was sworn in when half of the country was angry and unwilling to accept him as the president due to the controversial Florida vote counting controversy. Then he inherited the internet bubble recession, then within seven months 9/11 occurred, then the corporate scandals, then Katrina, and to top it off, a year before he leaves he gets pummeled by a once in a century financial tsunami. If history is fair to him, it will surely recognize that he has been one of the unluckiest presidents in modern history.
Most people who know Bush personally think he is a through gentleman, affable, and charming, a religious man of great conviction, but also singularly incurious, unimaginative, stubborn and had an extraordinarily guttural animal quality about him. He was extremely ambitious; he wanted not only to be just a president, but to be one of the greatest presidents of all time, at a minimum better than his father and Bill Clinton. He wanted to be a leader of the free world who spreads his grand idea of democracy across the planet and in the bargain receive a direct pat on his back from Jesus.
During the 2000 presidential election; he was popular, articulate, decisive, knowledgeable about policy issues and intensely passionate about topics close to his heart. Even during the first term of the presidency, after 9/11 and during the initial years of the Iraq war he was still admired which resulted in him winning the re election bid. One can only conjecture, but somewhere between 2005 and 2006 he started getting disillusioned with his own achievements. He was running massive deficits, fighting two wars, was clueless about nation building, was seeing corruption scandals all around him, was forced to admit he was wrong about WMD’S in Iraq, and even though America had come out of recession, people just didn’t feel right about their financial future.
As the years rolled on, as the insurgency in Iraq grew, so did the public criticism. He slowly began to recognize that his presidency has been a complete failure, a shattered dream. He knew he was stuck in Iraq and couldn’t wiggle out of it. He had botched up his mandate and he had reached a point of no return. His unpopularity, mediocrity and fallibility hit him, and the constant barrage of snide comments on his IQ levels, smartness and speech making abilities didn’t help at all.
He started doubting his own judgment and with every passing year you could see him looking increasingly uneasy and uncomfortable in his own skin. He looked tired, jaded and increasingly nervous which he tried to make up through his overtly aggressive body language. If you were to compare the old pre-presidential public appearances and the ones from the past couple of years, the difference is striking.
I have no idea how history will judge bush, but if current consensus amongst historians is any indication, he will probably go down as one of the worst presidents that the United States has ever had. However before we anoint him with the ‘worst president’ title, we need to have a dispassionate dialogue, and that can happen only a decade or two from now, because the greatest defining moments of the Bush presidency, the wars against terrorism, Afghanistan, and Iraq have not yet been concluded.
Ironically one of the strongest things he has going for him is that most presidents lie and almost all them have taken this country to war. Kennedy, Bush Sr., Clinton, Nixon, Reagan, all of them lied and all of them took this country to war. George Bush is no different than the others and there is no reason we should treat him any differently.
If Iraq stays a democracy 20 years from now, if we see even a smattering of democracy in some of the other countries in the Middle East because of Iraq, if the current recession does not go down as a depression; history can afford to be kinder to George W. Bush.
His countrymen have called him a liar, an ego maniac, downright dumb, and a disgrace to the nation, the Europeans have called him an illiterate bible wielding Osama Bin Laden and the entire Islamic world is calling him a crusader. So how will history judge the 43’rd president?
Let us start off by acknowledging that right from the onset of the presidency George W. Bush got an extremely bad draw of the cards. He was sworn in when half of the country was angry and unwilling to accept him as the president due to the controversial Florida vote counting controversy. Then he inherited the internet bubble recession, then within seven months 9/11 occurred, then the corporate scandals, then Katrina, and to top it off, a year before he leaves he gets pummeled by a once in a century financial tsunami. If history is fair to him, it will surely recognize that he has been one of the unluckiest presidents in modern history.
Most people who know Bush personally think he is a through gentleman, affable, and charming, a religious man of great conviction, but also singularly incurious, unimaginative, stubborn and had an extraordinarily guttural animal quality about him. He was extremely ambitious; he wanted not only to be just a president, but to be one of the greatest presidents of all time, at a minimum better than his father and Bill Clinton. He wanted to be a leader of the free world who spreads his grand idea of democracy across the planet and in the bargain receive a direct pat on his back from Jesus.
During the 2000 presidential election; he was popular, articulate, decisive, knowledgeable about policy issues and intensely passionate about topics close to his heart. Even during the first term of the presidency, after 9/11 and during the initial years of the Iraq war he was still admired which resulted in him winning the re election bid. One can only conjecture, but somewhere between 2005 and 2006 he started getting disillusioned with his own achievements. He was running massive deficits, fighting two wars, was clueless about nation building, was seeing corruption scandals all around him, was forced to admit he was wrong about WMD’S in Iraq, and even though America had come out of recession, people just didn’t feel right about their financial future.
As the years rolled on, as the insurgency in Iraq grew, so did the public criticism. He slowly began to recognize that his presidency has been a complete failure, a shattered dream. He knew he was stuck in Iraq and couldn’t wiggle out of it. He had botched up his mandate and he had reached a point of no return. His unpopularity, mediocrity and fallibility hit him, and the constant barrage of snide comments on his IQ levels, smartness and speech making abilities didn’t help at all.
He started doubting his own judgment and with every passing year you could see him looking increasingly uneasy and uncomfortable in his own skin. He looked tired, jaded and increasingly nervous which he tried to make up through his overtly aggressive body language. If you were to compare the old pre-presidential public appearances and the ones from the past couple of years, the difference is striking.
I have no idea how history will judge bush, but if current consensus amongst historians is any indication, he will probably go down as one of the worst presidents that the United States has ever had. However before we anoint him with the ‘worst president’ title, we need to have a dispassionate dialogue, and that can happen only a decade or two from now, because the greatest defining moments of the Bush presidency, the wars against terrorism, Afghanistan, and Iraq have not yet been concluded.
Ironically one of the strongest things he has going for him is that most presidents lie and almost all them have taken this country to war. Kennedy, Bush Sr., Clinton, Nixon, Reagan, all of them lied and all of them took this country to war. George Bush is no different than the others and there is no reason we should treat him any differently.
If Iraq stays a democracy 20 years from now, if we see even a smattering of democracy in some of the other countries in the Middle East because of Iraq, if the current recession does not go down as a depression; history can afford to be kinder to George W. Bush.
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