WASHINGTON - President Barack Obama and a top House Republican acknowledged in holiday messages Thursday the economic struggles facing Americans this Thanksgiving but offered starkly different recipes for relief.
Obama and Rep. Mike Pence, R-Ind., singled out U.S. service members at home and abroad for special thanks before saying what they think should be done to fix the economy.
"As much as we all have to be thankful for, we also know that this year millions of Americans are facing very difficult economic times," Obama said in his weekly radio and Internet address. "Many have lost jobs in this recession — the worst in generations. Many more are struggling to afford health care premiums and house payments, let alone to save for an education or retirement. Too many are wondering if the dream of a middle-class life — that American dream — is slipping away."
Friday, November 27, 2009
Charts: Dollar Could Fall to 80 Yen, CNBC
The dollar's slide lower against the yen shows no sign of letting up and it could push toward 80 yen, which the pair would not have seen since 1995, Royce Tostrams, Technical Analyst at Tostrams Groep, told CNBC.
"Now we are moving lower, we could move to about 80.10 (yen per dollar). It's a low of 1995 so you have to look back more than 14 years to find the next support," Tostrams said.
"That means the dollar/yen remains very, very weak. There's a lot of selling pressure and I don't see any signs of a trend reversal yet. So you have to remain short of the dollar/ yen," he added.
"Now we are moving lower, we could move to about 80.10 (yen per dollar). It's a low of 1995 so you have to look back more than 14 years to find the next support," Tostrams said.
"That means the dollar/yen remains very, very weak. There's a lot of selling pressure and I don't see any signs of a trend reversal yet. So you have to remain short of the dollar/ yen," he added.
Thursday, November 26, 2009
CIA’s Lost Magic Manual Resurfaces
At the height of the Cold War, the Central Intelligence Agency paid $3,000 to renowned magician John Mulholland to write a manual on misdirection, concealment, and stagecraft. All known copies of the document — and a related paper, on conveying hidden signals — were believed to be destroyed in 1973. But recently, the manuals resurfaced, and have now been published as “The Official CIA Manual of Trickery and Deception.” Topics include working a clandestine partner, slipping a pill into the drink of the unsuspecting, and “surreptitious removal of objects by women.”
This wasn’t the first time a magician worked for a western government. Harry Houdini snooped on the German and the Russian militiaries for Scotland Yard. English illusionist Jasper Maskelyne is reported to created dummy submarines and fake tanks to distract Rommel’s army during World War II. Some reports even credit him with employing flashing lights to “hide” the Suez Canal.
This wasn’t the first time a magician worked for a western government. Harry Houdini snooped on the German and the Russian militiaries for Scotland Yard. English illusionist Jasper Maskelyne is reported to created dummy submarines and fake tanks to distract Rommel’s army during World War II. Some reports even credit him with employing flashing lights to “hide” the Suez Canal.
Dollar at 14-Year Low Against Yen
The dollar’s long decline reached a milestone Thursday when the U.S. currency slipped to its weakest level against the yen in 14 years and reached a 15-month low against a basket of major currencies.
The moves were part of a steady, multiyear decline in the dollar, triggered mainly by concerns about the swelling U.S. debt and, more recently, a belief that interest rates were unlikely to rise in the United States in the foreseeable future.
Many analysts say they believe the U.S. currency has further to fall — a prospect that may be good news for the United States, the world’s largest economy, as a lower dollar makes its exports cheaper. And China, which has effectively aligned the value of its currency, the yuan, against the dollar since mid-2008, could also benefit, as the relative weakness of the yuan to other currencies makes Chinese goods cheaper for shoppers abroad.
But the dollar’s weakness is causing jitters in countries like Japan, whose policy makers and executives worry that exporters will find it even harder to sell their goods and services abroad.
The moves were part of a steady, multiyear decline in the dollar, triggered mainly by concerns about the swelling U.S. debt and, more recently, a belief that interest rates were unlikely to rise in the United States in the foreseeable future.
Many analysts say they believe the U.S. currency has further to fall — a prospect that may be good news for the United States, the world’s largest economy, as a lower dollar makes its exports cheaper. And China, which has effectively aligned the value of its currency, the yuan, against the dollar since mid-2008, could also benefit, as the relative weakness of the yuan to other currencies makes Chinese goods cheaper for shoppers abroad.
But the dollar’s weakness is causing jitters in countries like Japan, whose policy makers and executives worry that exporters will find it even harder to sell their goods and services abroad.
Dollar tumbles as speculators sell the greenback for more lucrative returns
The dollar plunged to a 15-month low yesterday after investors seized on positive elements in a series of economic statistics to show that America’s economic recovery continues apace.
The US Dollar Index, which measures the greenback against a basket of major currencies, fell to 74.399 points in morning trading, its lowest level since August 2008. Investors, who see the dollar as a safe haven, have sold the currency to invest in riskier assets as their confidence has grown that America’s economy will continue to improve.
Gold has benefited from the dollar’s weakness and yesterday soared to a record high of $1,180 an ounce, spurred on by reports that India might buy additional bullion from the International Monetary Fund. The IMF sold 200 tonnes of gold to India’s central bank for $6.7 billion (£4 billion) this month and yesterday sold 10 tonnes to the Sri Lankan central bank for $375 million.
The dollar sell-off was given added impetus on Tuesday when the Federal Reserve described the currency’s loss of value as “orderly”, indicating that the central bank did not intend to step in to halt the decline.
The US Dollar Index, which measures the greenback against a basket of major currencies, fell to 74.399 points in morning trading, its lowest level since August 2008. Investors, who see the dollar as a safe haven, have sold the currency to invest in riskier assets as their confidence has grown that America’s economy will continue to improve.
Gold has benefited from the dollar’s weakness and yesterday soared to a record high of $1,180 an ounce, spurred on by reports that India might buy additional bullion from the International Monetary Fund. The IMF sold 200 tonnes of gold to India’s central bank for $6.7 billion (£4 billion) this month and yesterday sold 10 tonnes to the Sri Lankan central bank for $375 million.
The dollar sell-off was given added impetus on Tuesday when the Federal Reserve described the currency’s loss of value as “orderly”, indicating that the central bank did not intend to step in to halt the decline.
Monday, November 23, 2009
Doomsayers see disaster in our growing debt
http://www.philly.com/philly/business/personal_finance/112309_financial_doom.html
Doom and gloom, as the fashionistas might conclude, seems to be the new black. And the natural accessory, of course, is anxiety.
Consumers realize, all too well in some cases, that too much debt will eventually fall on you like a house of cards. They're wondering whether part of the solution _ which involved the federal government taking on mountains of debt _ isn't just kicking the crisis down The Road.
"You can't fight a debt problem with more debt," Ruth said.
Doom and gloom, as the fashionistas might conclude, seems to be the new black. And the natural accessory, of course, is anxiety.
Consumers realize, all too well in some cases, that too much debt will eventually fall on you like a house of cards. They're wondering whether part of the solution _ which involved the federal government taking on mountains of debt _ isn't just kicking the crisis down The Road.
"You can't fight a debt problem with more debt," Ruth said.
Dollar Slump Persisting as Top Analysts See No Bottom, No end in sight. Bloomberg
http://www.bloomberg.com/apps/news?pid=20601068&sid=at68Vpon.tCk
Nov. 23 (Bloomberg) -- The most accurate dollar forecasters predict the world’s reserve currency will continue sliding even when the Federal Reserve begins to raise interest rates, which policy makers say is an “extended period” away.
Nov. 23 (Bloomberg) -- The most accurate dollar forecasters predict the world’s reserve currency will continue sliding even when the Federal Reserve begins to raise interest rates, which policy makers say is an “extended period” away.
New York Times - Wave of Debt Payments Facing U.S. Government
http://www.nytimes.com/2009/11/23/business/23rates.html?_r=2&adxnnl=1&partner=rss&emc=rss&adxnnlx=1258970709-YX8T/Kdng4F3gh1sbfDB9A
WASHINGTON — The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true.
But that happy situation, aided by ultralow interest rates, may not last much longer.
Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term borrowings that come due in the months ahead, and interest rates that are sure to climb back to normal as soon as the Federal Reserve decides that the emergency has passed.
WASHINGTON — The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true.
But that happy situation, aided by ultralow interest rates, may not last much longer.
Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term borrowings that come due in the months ahead, and interest rates that are sure to climb back to normal as soon as the Federal Reserve decides that the emergency has passed.
For Inspiration, Obama Looks to Reagan, Newsweek
http://www.newsweek.com/id/223785
A democratic president, you'd think, would stick to Franklin D. Roosevelt or Jack Kennedy as role models. Not Barack Obama. As he faces tough times—economically and politically—I am told that he and his advisers are turning to an unusual source for inspiration: Ronald Reagan. Looking back, it shouldn't be a total surprise. On the campaign trail in 2008, Obama said nice things about the Gipper. Reagan, Obama said, "tapped into what people were already feeling, which was: we want clarity, we want optimism, we want a return to a sense of dynamism and entrepreneurship that had been missing."
A democratic president, you'd think, would stick to Franklin D. Roosevelt or Jack Kennedy as role models. Not Barack Obama. As he faces tough times—economically and politically—I am told that he and his advisers are turning to an unusual source for inspiration: Ronald Reagan. Looking back, it shouldn't be a total surprise. On the campaign trail in 2008, Obama said nice things about the Gipper. Reagan, Obama said, "tapped into what people were already feeling, which was: we want clarity, we want optimism, we want a return to a sense of dynamism and entrepreneurship that had been missing."
Sunday, November 22, 2009
Saturday, November 21, 2009
The New Domestic Terror Threat, Newsweek
http://www.newsweek.com/id/223776
Why recent events point to a potentially worrying radicalization of disaffected American Muslims.
It is still too early to tell what exactly motivated Fort Hood shooter Nidal Hasan to open fire on fellow American soldiers earlier this month, but the massacre came on the heels of a series of foiled terrorist plots involving Americans. In light of revelations that Anwar al-Awlaki, an extremist American cleric based in Yemen, had e-mailed with Hasan, it is worth asking whether America faces a growing threat from domestic terrorism, and to what degree those involved in terrorism are becoming radicalized not in some far-flung locale, but right here in the United States.
Why recent events point to a potentially worrying radicalization of disaffected American Muslims.
It is still too early to tell what exactly motivated Fort Hood shooter Nidal Hasan to open fire on fellow American soldiers earlier this month, but the massacre came on the heels of a series of foiled terrorist plots involving Americans. In light of revelations that Anwar al-Awlaki, an extremist American cleric based in Yemen, had e-mailed with Hasan, it is worth asking whether America faces a growing threat from domestic terrorism, and to what degree those involved in terrorism are becoming radicalized not in some far-flung locale, but right here in the United States.
Italians struggle with Mussolini legacy
http://news.bbc.co.uk/2/hi/programmes/crossing_continents/2144413.stm
A movement to rehabilitate the legacy of Benito Mussolini as an Italian hero is gathering momentum, breaking a 50-year taboo surrounding Italy's fascist leader.
Today, a resurgent nationalism has continued to gloss over the more shameful parts of Italian history, while at the same time allowing fascist apologists to exalt Italy's most notorious 20th leader.
A interesting article. Somewhat frighting in that the word " nationalism " is being used. This is the same format Hitler used in creating the Nazi Party. Create a sense of one pride, one country, one language, one flag, that is Nationalism. This is the seed to creating another revolution not only in Italy but in Germany. I have worked in both countries and I can tell you that this sense of pride is still there waiting for the day to come that this ideology to take center stage once more.
However, at the same time, I do wish that Americans had a sense of " Nationalism " here. And it still might come to that, and if it does, it might be too late,,, Until then, Press 1 for English.
A movement to rehabilitate the legacy of Benito Mussolini as an Italian hero is gathering momentum, breaking a 50-year taboo surrounding Italy's fascist leader.
Today, a resurgent nationalism has continued to gloss over the more shameful parts of Italian history, while at the same time allowing fascist apologists to exalt Italy's most notorious 20th leader.
A interesting article. Somewhat frighting in that the word " nationalism " is being used. This is the same format Hitler used in creating the Nazi Party. Create a sense of one pride, one country, one language, one flag, that is Nationalism. This is the seed to creating another revolution not only in Italy but in Germany. I have worked in both countries and I can tell you that this sense of pride is still there waiting for the day to come that this ideology to take center stage once more.
However, at the same time, I do wish that Americans had a sense of " Nationalism " here. And it still might come to that, and if it does, it might be too late,,, Until then, Press 1 for English.
423 Palestinian Children Suffering in Israeli Prisons
http://uruknet.info/index.php?p=m60258&hd=&size=1&l=e
'Palestinian Minister of Social Affairs Majidah Al-Masri said on Thursday that 423 Palestinian children are currently living in what she described as "difficult and painful circumstances" in Israeli prisons.
Accusing Israeli jailers of committing acts of psychological abuse and molestation, Al-Masri said that in addition to the strife of the children of Gaza, "the children in the West Bank are deprived from having a safe life due to the Israeli policy of uprooting and Judaization." '
Palin: Jewish Settlements Should Be Allowed to Expand, Because More Jews Are 'Flocking' to Israel
As much as I like you Mrs.Palin, I do disagree on you on this point.
The Christmas credit crunch: Greedy finance firms push interest rate towards 40%
Credit card firms are pushing up interest rates by as much as 7 per cent ahead of Christmas.
The move by Capital One means some customers will be paying almost 40 per cent interest on their Christmas gifts and January sale purchases unless they clear the balance on their cards. Read more: http://www.dailymail.co.uk/news/article-1229666/The-Christmas-credit-crunch-Greedy-finance-firms-push-rate-40.html#ixzz0XVlu36On
The move by Capital One means some customers will be paying almost 40 per cent interest on their Christmas gifts and January sale purchases unless they clear the balance on their cards. Read more: http://www.dailymail.co.uk/news/article-1229666/The-Christmas-credit-crunch-Greedy-finance-firms-push-rate-40.html#ixzz0XVlu36On
Friday, November 20, 2009
Israeli’s Imprison Cat For Aiding Palestinian Prisoners
'An Israeli prison,The Nakab, located between Egypt and Israel has booked one cat in solitary confinement as punishment for its services and assistance to prisoners who are serving sentences in solitary confinement.
According to the Israeli officers,the cat was aiding prisoners by moving light objects (i.e. letters,bread etc) between the cells of prisoners.It turns out that the cat had been providing its services to prisoners for several months until it was exposed recently and so the prison administration decided to place the cat in solitary confinement - the same way they do to the prisoners.'
According to the Israeli officers,the cat was aiding prisoners by moving light objects (i.e. letters,bread etc) between the cells of prisoners.It turns out that the cat had been providing its services to prisoners for several months until it was exposed recently and so the prison administration decided to place the cat in solitary confinement - the same way they do to the prisoners.'
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