Showing posts with label economic slowdown. Show all posts
Showing posts with label economic slowdown. Show all posts

Wednesday, April 9, 2008

Khalid Sheikh Mohammed gets Navy defense attorney; famed Venice bar gives Americans 20% off for weak $; WH urges lenders to reduce homeowner debt...

9 April :: Reuters reporting: "The self-described mastermind of the September 11 attacks on New York City and the Pentagon [Khalid Sheikh Mohammed] has been assigned a U.S. military lawyer to defend him in the Guantanamo war court, where he could face execution if convicted, The Miami Herald reported"... Famed Harry's Bar, owned by Cipriani family, in Venice, offers 20% discount to Americans hit by plummeting dollar exchange; bar made famous by Ernest Hemingway, sees significant portion of business from American travelers... Bush admin. urging lenders to erase portion of homeowner debts to avoid swell in foreclosures; borrowers will be permitted to pay off lower total amount, lenders to secure money lost in revaluation by "other arrangements"... Democratic frontrunner Barack Obama now within 6 percentage points of Hillary Clinton in Pennsylvania, according to latest Quinnipiac University poll; Clinton supporters have said she must win PA handily to stay in race... Protesters gather in San Francisco as Olympic torch set to pass through, IOC says no detour for torch relay; protests in Paris, London marred by aggressive protests, heavy police presence... Fmr. VP Al Gore becomes "green" political commodity for Dem candidates: both Obama, Clinton regularly phone Gore, consult on ecological issues; Gore has yet to endorse either candidate, will cast a "super-delegate" vote at DNC...

Tuesday, March 25, 2008

Pakistan PM frees detained judges; DoJ gives approval to XM, Sirius merger; Clinton calls for emergency actions to prevent foreclosures...

25 March :: Yousaf Raza Gillani, newly appointed Pakistan PM of coalition gov't frees judges deposed, detained under Musharraf's martial law decree; Gillani was once jailed by Musharraf over corruption allegations when he seized power... US Dept. of Justice yesterday announced approval merger of two satellite radio giants XM and Sirius, leading to potential absolute monopoly of satellite radio market... Sen. Hillary Clinton yesterday called for $30 billion for states to reduce incidence of foreclosures, also proposing a "high-level emergency working group" made up of former top finance and economic officials to tackle economic crisis; Barack Obama's campaign has countered that he has called for a "homeownership preservation summit", claiming that his panel would include more diverse economic interests and points of view; Clinton noted that "The Fed extended a $30 billion lifeline to prevent Bear Stearns from imploding,” adding that "Homeowners, on the other hand, have received next to no assistance. Well, let’s be clear — when families are losing their homes, that’s also a financial crisis"...

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...

Sunday, February 17, 2008

Kosovo to declare independence from Serbia, EU to help organize new state; Musharraf says elections will go ahead in Pakistan...

17 February :: Kosovo to declare independence from Serbia today, according to reports from Pristina, EU agencies; EU officials said "around 1,900 international police officers, judges, prosecutors and customs officials and approximately 1,100 local staff will be based in headquarters in Pristina or located throughout the judicial and police system in Kosovo", according to CNN, with EU staff replacing the UN mission currently aiding in the running of the territory... Musharraf gov't says parliamentary elections will be held as scheduled, despite massive suicide bombing that killed at least 27 at secular candidate's campaign rally; opposition parties have criticized the gov't for the escalation of allegedly extremist-motivated violence, and fear the gov't may use the bombings as a pretext to suspend elections or take measures to fortify Pres. Musharraf's hold on power... New release of economic data paints worrying picture of coming trends in US economy; IHT reports "With the price of oil near record levels, import costs grew in January at the highest annual rate in a quarter century, the Labor Department said. In New York, manufacturing activity fell to its lowest level in five years. And consumers, responding to a national survey, said they felt worse about the economy than any time since the recession era of the early 1990s", also quoting High Frequency Economics economist as saying "The sustained volatility in the markets, the rise in energy and food prices and, of course, the catastrophe in the housing market, is making consumers extraordinarily miserable"... Report suggests organizing everyday household processes to be more environmentally-friendly has become standard part of domestic planning stress in some parts of US; a write-up in IHT suggests "The truth is, we're not living very naturally - we're in our cars, staring at the computer screen, separated most of the day from the people we love", but warns against using ecological considerations as a stand-in for other personal goals... Report suggests economic hardship, political disappointments, marginalization, lack of progress toward democracy, are combining to drive Egyptian youths first toward religion, then in some cases to radical fundamentalist movements that seek Islamic state, abolition of secular culture, specifically "With 60 percent of the region's population under the age of 25, this youthful religious fervor has enormous implications for the Middle East. More than ever, Islam has become the cornerstone of identity, replacing other, failed ideologies: Arabism, socialism, nationalism"...

Sunday, February 10, 2008

Khmer Rouge tribunal facing budget crisis; G7 warn global economy at risk; Obama takes Wash., Louisiana, Nebraska; Huckabee takes Kansas, LA......

10 February :: Highest official yet from Khmer Rouge Cambodian regime, accused of murdering 1.7 million people in ideological purge 3 decades ago, stands trial, but tribunal is facing managerial crisis, related to allegations of mismanagement and lack of sustainable budget... Financial ministers from the "G7" group of industrialized democracies have said the prosperity of the world economy is at risk, citing a reduction in available credit, the collapse of the US housing market, and soaring petroleum prices... Sen. Barack Obama (D-IL) has won three decisive victories in primary votes this Saturday, defeating rival Sen. Hillary Clinton (D-NY) in Washington, Louisiana and Nebraska; the margin of victory was surprisingly wide in both Washington and Nebraska, roughly 68% to 32% over Clinton; turnout surged in Saturday's primaries, as it has elsewhere this year: NYT reports "In Washington, the Democratic party reported record-breaking numbers of caucusgoers, with early totals suggesting turnout would be nearly be nearly double what it was in 2004 — itself a record year — when 100,000 Democrats caucused"... Fmr Arkansas governor Mike Huckabee won the Republican contests in Louisiana and Kansas, surprising a party that has begun to rally around Sen. John McCain (AZ), its "presumptive nominee"; Huckabee has said he does not intend to withdraw from the race, despite McCain's massive lead in delegates to the Republican nominating convention; in Kansas, Huckabee took 60% of the vote, compared with McCain's 24%... Daily News reports "Calling herself a 'mother first,' Sen. Hillary Clinton blasted MSNBC Saturday and demanded further disciplinary action against a correspondent who suggested 27-year-old Chelsea had been 'pimped out' by her presidential campaign"; in a letter to NBC News president Steve Capus, the New York senator wrote "There's a lot at stake for our country in this election. Surely, you can do your jobs as journalists and commentators and still keep the discourse civil and appropriate"...

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...

Sunday, January 6, 2008

Odinga refuses Kibaki offer for power-sharing to end violence; Obama, McCain top opinion polls in NH...

6 January :: Kenyan opposition leader Raila Odinga rejects Pres. Kibaki's offer for a power-sharing gov't, saying Kibaki's authority is nullified by alleged efforts to rig the December vote... Latest polling shows Obama, McCain pulling ahead of rivals in New Hampshire, apparently bolstered by weekend debates; Clinton, Romney campaigns struggling to keep positive outlook on their chances in media coverage... 1/4 of Argentina's population now lives below the poverty line, as wealth gap widens, economic hardship seems to set down roots in wake of the 2001 monetary and economic crisis; CSM reports "The gap between rich and poor has slowly expanded over the decades in a society that has always thought of itself as Latin America's model for egalitarianism [...] But the financial crisis that exploded in 2001 —plunging 50 percent of the population into poverty and leading to a spike in crime that pushed city dwellers into gated communities— has caused many to face Argentina's new reality: The family you are born into will largely determine where you end up in life"...

Saturday, November 17, 2007

Bank of England warns UK of economic slowdown; Pakistan detains another opposition leader, as student movement grows...

17 November :: Bank of England governor warns coming year will be hardest economically for Great Britain, with credit problems, banking tightness and housing slump contributing to general tightening of purse-strings, possible consumer slowedown as well; Bank gov. Mervyn King said it will be 2009 "before growth picks up and inflation is brought under control", according to the Guardian... IHT reporting from Lahore: "The opposition politician Imran Khan emerged from hiding Wednesday to the cheers of hundreds of students at a demonstration against General Pervez Musharraf at a university here, but he was quickly seized by hard-line students and turned over to the police, witnesses said"; Musharraf moves to contain virtually all aspects of opposition organization, leadership increasingly evident, US calls into question security rationale behind emergency rule... CSM, also reporting from Lahore: "What began last week as a protest against the arrests of academics at a university in Lahore has quickly spread across larger campuses, energizing new movements and inciting old student political groups from a near two-decade slumber. But when opposition leader Imran Khan, a perceived hero of the student movement, arrived Wednesday to address students in Lahore, members of a powerful and established Islamist student group quickly handed him over to police"... Google is offering $10 million in prize money for developers who produce the most effective software for its proposed open-platform mobile phone operating system; 'G-prize' for revolution in cellular software could herald new model of mass-market technology development... As Congress wrestles with question of telecom complicity in extralegal spying, Truthdig report revealing in terms of possible link between gov't backing of major telecom mergers, data-mining programs; report reveals that NSA in 2000, in efforts to gather new resources, maintain relevancy in post-Cold-War period, launched a "government-industry partnership for information technology infrastructure services"...

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