Showing posts with label US economy. Show all posts
Showing posts with label US economy. Show all posts

Monday, March 24, 2008

Australia plans increase in food aid, due to soaring prices; Bhutan becomes democracy; new Tibet protests reported in Qinghai province, China...

24 March :: Australia's gov't is contemplating increases in food aid to poor regions, nations, after study of soarng food prices, mounting scarcity; SMH reports "A steep two-year rise in global food prices, which in Australia has triggered the Federal Government's inquiry into grocery prices, has taken a heavy toll on poorer populations, particularly in East Timor and Indonesia. Surging fuel prices, drought, changing diets and the use of arable land for biofuels have pushed average food prices up almost 40 per cent in the past year. Wheat prices have risen 80 per cent rise"... Crisis Policy Forum (a Sentido.tv sister publication) is now hosting an open discussion forum on food security in Africa, in hopes of achieving innovative new solutions to the complex multi-regional problem... Small Himalayan nation Bhutan votes today for National Assembly, will complete transition from monarchy to democracy; VOA reports "The two main parties vying for seats are both led by men close to the king, and analysts say they are ideologically similar. Both party leaders have already served terms as prime minister, and one of them, Sangay Ngedup, is a member of the royal family", the young king leading campaign for democracy, will become head of state under new constitution... Tibetan exile community has reported new protests in Qinghai province in western China against Tibet crackdown; reports of demonstrations against Beijing's Tibet policy in Sichuan province include rumors of troops firing into crowds of civilians, in one case allegations of 23 dead... In rough press day for Republican presidential candidate, USA Today alleges more than one-third of lobbyists who have contributed to McCain's campaign have worked as telecom lobbyists during the last decade; his campaign denies he does favors for lobbyists or special interests, and Sen. McCain has sponsored legislation to limit the influence of lobbyists in crafting legislation; NY Times reports it may have been McCain aides who approached Democrats about switching parties in 2001 and about running with Kerry in 2004, McCain camp continues to deny he approached Dems... US economic data visits worrying extremes: avg. price for 1 gallon regular unleaded gasoline hits all-time record of $3.26, with some surveys saying nationwide avg. is $3.28 and rising; CNN also reports increasing numbers of middle-aged adults (40 to 55) making arrangements to move back in with parents in wake of layoffs, foreclosures or financial straits...

Friday, February 1, 2008

3rd undersea internet cable cut in recent days; US economy loses 17,000 jobs, signaling slowdown; eye-tracking tech moves into video-gaming...

1 February :: After two undersea internet cables were cut by unknown means in recent days, in the Mediterranean, a third has been cut in the Persian Gulf, off the emirate of Dubai; two of the cables belong to FLAG Telecom, and the cuts interrupted phone and web traffic from Europe to India... Bloomberg reporting "The U.S. unexpectedly lost jobs for the first time in more than four years, increasing the odds the economy will fall into a recession and making it likely the Federal Reserve will cut interest rates another half point next month [...] Payrolls fell by 17,000 in January after an 82,000 gain in December that was larger than initially reported, the Labor Department said today in Washington. None of the 80 economists surveyed by Bloomberg News predicted a decline"... Advances in eye-tracking and "attention awareness" software-driven mechanisms heighten challenge of video game, or performance of pilots, depending on application; researchers say eye-tracking technology could be an important way to improve the effectiveness of certain tools or services... Violent "mob" of estimated 3,000 in Kenya's Rift Valley reportedly killed a policeman with machetes; gov't security forces have vowed a severe crackdown, to try to end spreading violence; opposition movement says security forces have used brutal tactics against protesters demonstrating against Pres. Mwai Kibaki's gov't o alleging electoral fraud in December vote... Microsoft has offered $44.6 billion in effort to take over internet search giant Yahoo!, whose stocks have struggled as it gives ground to Google in market dominance...

Wednesday, January 30, 2008

Ethnic violence spreads in Kenya, US envoy says "ethnic cleansing"; Australia to apologize to Aboriginal minority for past abuses...

30 January :: US envoy to Kenya, visiting to evaluate tribal violence spreading across east African nation, says "clear ethnic cleansing" taking place in efforts to purge certain areas of Kikuyu tribe members, loyal to fellow Kikuyu, Pres. Mwai Kibaki, accused by opposition of rigging December elections... CSM reports on observers' feeling that violence in Kenya can be stemmed, peace restored, before ethnic clashes become full-scale war, in some areas where Kikuyu, Kamba are majority of population, violence has yet to spread, but fears of spreading clashes have ignited tensions, could send entire country into "spiral of violence", driven by ethnic hatred, from which it would be difficult to emerge into peace in coming weeks, months... NY Times reports "The new Australian government of Prime Minister Kevin Rudd will apologize for past mistreatment of the country’s Aboriginal minority when Parliament convenes next month, addressing an issue that has blighted race relations in Australia for years"... Sen. McCain wins Florida, Romney 2nd, McCain leading among senior citizens, Hispanics and moderates, as well as those who put economy first among concerns, while finishing close to Romney with self-professed conservative Republicans; Sen. Clinton finished ahead of Sen. Obama in the Democratic primary, as record 1.7 million voted, but because Florida's Democratic party violated DNC rules by moving its primary to January, it will send no delegates to the nominating convention... FT reports "The International Monetary Fund on Tuesday slashed its forecast for US growth and warned that no country would be immune from what it termed a 'global slowdown'", warning that US growth would slow to 0.8% in 2008, sharply down from previous projections...

Monday, January 28, 2008

Kennedy to endorse Obama in wake of SC win; IMF warns fiscal crisis could spread, worsen; Kisumu, Kenya, ablaze amid riots...

28 January :: Sen. Edward Kennedy (D-MA) to announce support for candidacy of Sen. Barack Obama (D-IL); sources tell press Sen. Kennedy will make announcement alongside niece, Caroline Kennedy, youngest daughter of assassinated pres. John F. Kennedy, who wrote in Sunday NY TImes that Obama has the capacity to inspire people the way her father did 5 decades ago... Dominique Strauss-Kahn, managing director of the IMF, has warned that the current global fiscal crisis could deepen if more governments to not act to revamp their overall fiscal policy, infuse markets with capital and promote stimulus packages that could bring about fiscal deficits but would loosen the spending potential of consumers and investors; the move is being called an "about-face" for a director and an institution which have promoted fiscal rigor and budget cutting as ways to ensure economic agility; observers now say subprime mortgage crisis could spread to credit cards and other banking services, further tightening available capital, slowing markets across borders, industries... City of Kisumu, Kenya, burns as rioters take to streets in protest against mounting ethnically-driven killings in the region; Kenya has descended into an increasingly indiscernible pattern of tribal and political violence, since the disputed December elections in which opposition leaders allege the sitting government rigged the vote, used violence to suppress opposition, stay in power...

Wednesday, January 23, 2008

Civil war in DR Congo has claimed 5.6 million lives in 10 years, 45,000 die per month; peace deal signed in eastern DR Congo bet. rival factions...

23 January :: DR Congo death toll since 1998 now stands at 5.6 million, with 45,000 still dying each month in 10-year ongoing civil war; Democracy Now! reports that "Amidst the deadliest conflict since World War II, hundreds of international corporations have reaped enormous profits from extracting and processing Congolese minerals", speculation has long weighed the possibility that neighboring gov'ts are eager to maintain factional rivalries in order to keep DR Congo's natural resource markets open... In eastern DR Congo, a peace deal has been signed between pro-government Mai Mai militia and rebel general Laurent Nkunda's faction; gov't has sanctioned deal which BBC reports "includes an immediate ceasefire and the deployment of UN peacekeepers in 13 key locations"Hamas agents have broken through Egypt-Gaza border wall to permit flow of refugees in search of food, supplies, as border closure continues to strain territory; Bloomberg reports "Hamas militants blew 15 holes in a security fence separating the Gaza Strip and Egypt, enabling thousands of Palestinians to leave the blockaded enclave to search for food and supplies"... US Federal Reserve Bank cuts interest rates a sharp 0.75%, leading to criticism from economists at the Davos Economic Forum; FT reports "Economists at the meeting warned that the monetary easing announced on Tuesday would not succeed in boosting a sickly US economy. Moreover, they said, by reacting to turmoil in equity markets, the Fed seriously risked creating the impression that it was most concerned with ensuring investors did not lose money"...

Saturday, January 5, 2008

Kibaki offers opposition potential power-sharing role in gov't to ease tensions; Scotland Yard team arrives in Pakistan...

5 January :: WSJ reporting "After a week of political stalemate and bloodshed, Kenyan president Mwai Kibaki said Saturday that he was prepared to form a government of national unity with the opposition, easing tensions between the two side and potentially setting the stage for negotiations to end violence that has so far killed at least 300 people and displaced as many as 250,000"... A team of investigators from Britain's Scotland Yard police headquarters arrived yesterday in Pakistan to assist in the probe into the assassination of fmr PM Benazir Bhutto; Pakistan's pres. Pervez Musharraf said the team would assist in forensics but warned against "a wild goose chase" and said their role would not be permitted to interfere with Pakistan's internal politics... According to BBC report, China will see migration of 320 million people —more than the entire current population of the US— from rural areas to its urban centers in coming decades; the mass migration is said to be having environmental impact on "every atom in the Chinese soil", the general diet, the food supply, and potentially agricultural and commodities markets across the world... Le Monde reports indications gathering that US headed for recession in 2008, citing Pres. Bush's caution, pledges to work with Democrats in Congress to shore up economic weak spots, also noting that while only 18,000 jobs were created across the nation in December, unemployment is up to its highest in at least 2 years... French philosopher, writer and feminist Simone de Beauvoir was born 100 years ago, spurring a new round of publications and re-editions of her work, to celebrate her achievement and the significance of her ideas in 20th century society and culture...

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