WASHINGTON -- Chinese Navy officers reacted with annoyance today when it emerged that the United States had sent a destroyer to back up a surveillance vessel in the South China Sea after it was harassed by People's Liberation Army sailors. The decision by President Obama to send an armed escort for U.S. surveillance ships in the area follows the aggressive and co-ordinated manoeuvres of five Chinese boats on Sunday. The vessels harassed and nearly collided with the unarmed USNS Impecccable.
One unidentified officer quoted in the China Daily newspaper said that the decision was disproportionate. While China's Foreign Ministry has so far kept tight-lipped on the latest development, the decision to run such a comment so swiftly in the state-run English-language newspaper was a signal of Beijing's concerns.
One naval source said the PLA had taken note of the latest U.S. move and was watching developments closely.
Another described the deployment of the USS Chung-Hoon, armed with torpedoes and missiles, as a signal of the Pentagon's intention to "keep on pressing" China in the South China Sea. He added: "The timing and the extent have gone beyond what you could call proportionate."
Top Chinese officers accused the unarmed U.S. Navy ship that it disturbed last Sunday of being on a spying mission. They said they had made repeated representations to the United States to stop sailing so close to Chinese waters and within its exclusive economic zone.
The U.S. keeps a close eye on China's arsenal, including its fleet of submarines in the area. Washington says the confrontation occurred in international waters, but Beijing claims nearly all the South China Sea as its own, putting it in conflict with five other nations that have claims over different parts of the waters.
#2
If the USNS Impeccable is operating illegally, then why not just sieze it instead of harassing it? And I hope the US has learned how to make the electronics and data stored completely useless given the Rivet-Joint incident a few years back, including microwaving the parts or incinerating them or whatever. The Chinese probably figure that since they got away with illegally harassing the Rivet-Joint into a controlled crash landing a few years back that they can do this all they want now. Some sort of moral loophole in the law. Until someone dies. Maybe.
Mission is classified as "to directly support the Navy by using both passive and active low frequency sonar arrays to detect and track undersea threats".
Hunting for Chinese subs maybe?
LEXINGTON PARK, Md. -- Some sexual experimentation landed a southern Maryland woman in a hospital with injuries tough to imagine and even more difficult to forget. I know I'll never look at a reciprocating saw the same way again.
Maryland State Police airlifted the 27-year-old woman to Prince George's County Hospital Center early Sunday morning after she was injured in an incident involving a sex toy attached to a saber saw blade, TheBayNet.com first reported. Yes, you read that correctly..
The man who called 911 about the incident admitted attaching the sex toy to the saw and then using the high-powered, homemade device on his partner, according to the St. Mary's County Sheriff's Office. The saw cut through the plastic toy and wounded the woman, according to TheBayNet.com. The injuries were severe enough for medevac, but the woman was released from the hospital Monday and is recovering from her unusual injuries. Oooooh, that's gonna leave a mark!
Investigators talked to the woman, who told them she suffered the injuries during a consensual act and that she and her partner were trying something new and no crime was committed, the sheriff's office said.
Posted by: Steve ||
03/13/2009 08:05 ||
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"More power, more power" - Tim Taylor, Tool Time.
#12
Some people just are too stupid to live. Luckily, this woman was rescued before she died, but a cut into one of the femoral arteries would have been REALLY bad...
Posted by: Old Patriot ||
03/13/2009 20:21 Comments ||
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#13
Some people are too stupid to procreate. On the down side, when the lawyers get through with this, all power tools will have a label saying "Not to be used as a sex toy."
Posted by: ed ||
03/13/2009 22:09 Comments ||
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#14
Procreating stupid people is what led to this story.
To he!! with the global currency, world government, bi-partisan liberal BS...
Let's just readopt natural selection and let god sort 'em out...
Just a thought: Who was the bigger idiot? Him or her?
Let's see...this is MD. Wanna bet they both work for the government???
Global and Northern Hemisphere Tropical Cyclone Activity [still] lowest in 30-years
Tropical cyclone (TC) activity worldwide has completely and utterly collapsed during the past 2 to 3 years with TC energy levels sinking to levels not seen since the late 1970s. This should not be a surprise to scientists since the natural variability in climate dominates any detectable or perceived global warming impact when it comes to measuring yearly integrated tropical cyclone activity. With the continuation (persistence) of colder Pacific tropical sea-surface temperatures associated with the effects of La Nina, the upcoming 2009 Atlantic hurricane season should be above average, as we saw in 2008. Nevertheless, since the Atlantic only makes up 10-15% of overall global TC activity each year (climatological average during the past 30 years), continued Northern Hemispheric and global TC inactivity as a whole likely will continue.
The history of The Seattle Post-Intelligencer stretches back more than two decades before Washington became a state, but after 146 years of publishing, the paper is expected to print its last issue next week, perhaps surviving only in a much smaller online version.
And it is not alone. The Rocky Mountain News shut down two weeks ago, and The Tucson Citizen is expected to fold next week.
At least Denver, Seattle and Tucson still have daily papers. But now, some economists and newspaper executives say it is only a matter of time -- and probably not much time at that -- before some major American city is left with no prominent local newspaper at all. "In 2009 and 2010, all the two-newspaper markets will become one-newspaper markets, and you will start to see one-newspaper markets become no-newspaper markets," said Mike Simonton, a senior director at Fitch Ratings, who analyzes the industry.
Many critics and competitors of newspapers -- including online start-ups that have been hailed as the future of journalism -- say that no one should welcome their demise.
"It would be a terrible thing for any city for the dominant paper to go under, because that's who does the bulk of the serious reporting," said Joel Kramer, former editor and publisher of The Star Tribune and now the editor and chief executive of MinnPost .com, an online news organization in Minneapolis. "Places like us would spring up," he said, "but they wouldn't be nearly as big. We can tweak the papers and compete with them, but we can't replace them."
No one knows which will be the first big city without a large paper, but there are candidates all across the country. The Hearst Corporation, which owns The Post-Intelligencer, has also threatened to close The San Francisco Chronicle, which lost more than $1 million a week last year, unless it can wring significant savings from the operation.
In a tentative deal reached Tuesday night, the California Media Workers Guild agreed to less vacation time, longer workweeks and more flexibility for The Chronicle to make layoffs without regard to seniority. Union officials say they have been told to expect the elimination of at least 150 guild jobs, almost one-third of the total, and management is still trying to negotiate concessions from the Teamsters union.
Advance Publications said last fall that it might shut down The Star-Ledger, the dominant paper in New Jersey, but a set of cutbacks and union concessions kept the paper alive in much-downsized form.
The top papers in many markets, like The Star Tribune in Minneapolis, The Philadelphia Inquirer and The New Haven Register, belong to companies that have gone into bankruptcy in the last three months. The owners insist they have no intention of closing publications, but the management making those assurances may not be in charge when the companies emerge from reorganization.
Other publishers, like the Seattle Times Company and MediaNews Group, owner of The Denver Post, The San Jose Mercury News and The Detroit News, are seen as being at risk of bankruptcy. Many newspapers -- from The Miami Herald to The Chicago Sun-Times -- have been put up for sale, with no buyers on the horizon.
Ad revenue, the industry's lifeblood, has dropped about 25 percent in the last two years (by comparison, automotive revenue for Detroit's Big Three fell about 15 percent during the same period, although it has accelerated recently), and that slide, accelerated by the recession, shows no sign of leveling off in 2009.
Web sites like Craigslist have been to classified ads what the internal combustion engine was to horse-drawn buggies. The stock prices of most newspaper publishers have dropped more than 90 percent from their peaks.
And magnifying the problem, for many chains, is a heavy burden of debt that they took on, mostly in a spree of buying other newspapers from 2005 to 2007, just before the bottom dropped out of the business.
The Tribune Company, for instance, owner of The Chicago Tribune, The Los Angeles Times and other papers, filed for bankruptcy in December, largely because of its debt load. The reality is that even though the economic climate is hard for newspapers, without their debt payments the publishers in bankruptcy would still make money, as do most newspapers around the country.
But profits are shrinking fast; taken together, major chains had an operating profit margin of about 10 percent in 2008, down from more than 20 percent as recently as 2004, according to research by John Morton, an independent analyst.
See how utterly out of touch they are? They see themselves as white knights, valiantly crusading for the public interest. In reality, they abuse their positions to advocate their own political viewpoints. The whole system is rotten to the core and only wholesale desctruction can "save" it. Sort of like how only a disaster or famine can "save" an overpopulated nation.
#2
The news business is facing the 'perfect storm.' Alienate half their potential market with extremely biased reporting. Lose another huge chunk to the idiocratization of America - the only news most care about shows on 'E'. Then face lower cost/higher effectivenss competition in the classified ad business. And of course for most purposes internet news distribution is cheaper and better. And if that was not enough, when the economy tanks, discretionary spending tanks even more, and news (papers, magazines, cable etc.) is discretionary.
Mexico's most wanted man, "El Chapo", or Shorty, heads the Sinaloa cartel, one of the biggest suppliers of Cocaine to the U.S. In 1993 was arrested in Mexico on homicide and drug charges. Escaped from federal prison in 2001, reportedly through the laundry, and quickly regained control of his drug trafficking organization, which he still controls today. In 2008 Mexican and Colombian traffickers laundered between $18 billion and $39 billion in proceeds from wholesale shipments to the U.S.
Shorty, an alleged tunnels expert, is believed to have directed anywhere from a third to half of that during the past 8 years. Apparently started out working with Miguel Angel Felix Gallardo, "El Padrino", or the Godfather, head of the most powerful drug trafficking group in Mexico at that time. U.S. government is offering a $5 million reward for his capture.
Posted by: Fred ||
03/13/2009 00:00 ||
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TOPIX > MEXICO:OBAMA'S REAL VIETNAM? + WILL MEXICO TURN INTO AFGHANISTAN?
#3
WAFF > WATCH OUT MEXICO HERE COMES THE USA!/USA TO COMBAT DRUGS IN MEXICO; + TOPIX > USA TO MEXICO: USE OF NATIONAL GUARD IS A "LAST RESORT" TO FIGHT BORDER DRUG VIOLENCE + US-MEXICO BORDER DRUG VIOLENCE REACHES A TIPPING POINT!?
WORKERS freed the boss of Sony France after holding him hostage overnight to try to make the Japanese electronics giant give them a bigger redundancy package.
Only in France can you get a 'redundancy' package ...
"I am happy to be free and to see the light of day again," said Serge Foucher as he emerged from the Sony plant at Pontonx-sur-l'Adour in southwest France and climbed into a mini-bus along with union officials.
Mr Foucher was heading for a meeting with the regional state representative, or prefect, and union leaders in the nearby town of Dax, officials said. He had gone to the factory to meet its 311 workers one last time before its closure on April 17.
But the workers, who say their pay-off is less generous than that offered at other French Sony plants that have closed, decided to launch a strike, then barricaded the entry to the site with tree trunks and stopped him leaving. He was held overnight in a meeting room, a union official said.
Sony France announced in December the closure of the Pontonx-sur-l'Adour site, which has specialised in manufacturing video tapes since 1984.
French President Nicolas Sarkozy announced on Wednesday France's return to the NATO military command, four decades after Charles de Gaulle declared its independence from the Atlantic alliance.
"... going to war without France is like going deer hunting without an accordion."
Jed Babbin
Deputy Undersecretary of Defense, 2003
Going to war with the French is After weeks of fierce political controversy, the French leader confirmed his decision before an audience of defense experts at a seminar at the Ecole Militaire staff college in Paris.
Posted by: Fred ||
03/13/2009 00:00 ||
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#1
going to war without France Chirac is like going deer hunting without an accordion.
While German soldiers have been deployed as far of Taliban territory as possible where except for rare IED attacks they do nothing but sip beers and get fat, the French are in areas where you can be shot at.
Pakistan Muslim League-Nawaz (PML-N) chief Mian Nawaz Sharif has strongly condemned the detention of lawyers and political workers in Karachi and called on the government to show restraint from using negative tactics. PML-N chief said that arrests of political workers participating in the long march were regretful and demanded of the government to immediately release them. He called for government not to use negative tactics for a peaceful march.
Posted by: Fred ||
03/13/2009 00:00 ||
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Washington's Ambassador to Islamabad Anne W. Patterson has said that US wants to see strong democratic institutions in Pakistan. She expressed these views while speaking to Pakistan Muslim League-Nawaz (PML-N) chief Mian Nawaz Sharif at Raiwand here on Thursday. Patterson said that all democratic forces should work jointly to strengthen the democracy in the country. While Nawaz Sharif said that US should respect the aspirations of the people of Pakistan. Former chief minister Punjab and PML-N president Mian Shahbaz Sharif and Chaudhry Nisar Ali Khan were also present in the meeting.
According to sources, American ambassador said that non-state elements could take advantage of the prevailing situation if situation doesn't improve. Nawaz Sharif told US ambassador that his party would not back out from the long march at any cost. He said that PML-N never did the politics of confrontation and waging a struggle for the restoration of independent and strong judiciary. All issued would be solved automatically if President restores deposed judges, he said.
Posted by: Fred ||
03/13/2009 00:00 ||
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#1
How about the Chicago model? New Jersey? maybe Massachusetts?
(AKI) - By Syed Saleem Shahzad - As thousands of Pakistani lawyers and political activists clashed with security forces in their bid to march to the capital, Islamabad, many political leaders went into hiding on Thursday to avoid arrest. "We're outta here!"
Police have arrested hundreds of lawyers, political workers and other opponents in the past few days in a crackdown designed to avert the long march calling for the reinstatement of deposed judges.
Former international cricketer turned politician Imran Khan emerged from hiding briefly and announced he would appear outside Islamabad's district court on Monday to lead the political protest in central Islamabad. "I did not escape. In fact, this is a strategy to avoid arrest. I shall definitely appear at the district court on 16 March and lead the procession all the way to the Constitution Avenue (in) Islamabad," the former cricket champion Imran Khan told a local television talk show from an undisclosed location. "I cannot describe where I am based because this is what the government wants to know."
Defying the nationwide crackdown and protest ban, lawyers and political activists congregated at the Sindh High Court in Karachi - site of the largest rally of the country - and began to march.
The protests carried flags and punched their fists in the air as they marched in Karachi, Quetta and Lahore, demanding that president Asif Ali Zardari reinstate judges sacked by former president Pervez Musharraf.
The protesters managed to reach the highway in buses and cars but were met by large numbers of police who charged at them with batons.
Dozens of protesters were arrested in Karachi including the deputy chief of the Islamist Jamaat-e-Islami Party, 90-year-old Professor Ghaffour Ahmad and former president of the Supreme Court Bar Association and leader of the lawyers' movement, Munir A. Malik.
Pakistan's television channels channels appeared to be supporting the protest. On Thursday they were broadcasting the address of slain former prime minister Benazir Bhutto in which she announced that deposed Supreme Court justice Iftikhar Chaudry would be restored to power if she was elected. They also showed old footage of Zardari in which he signed a deal with Nawaz Sharif, opposition leader and head of the Pakistan Muslim League-N to restore Chaudhry.
Revolutionary poetry written by a late communist poet Habib Jalib is also being broadcast by television stations.
Posted by: Fred ||
03/13/2009 00:00 ||
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#1
Question Fred: Was Chaudhry a good guy or just another bad guy factor?
That Turtle Bay whorehouse would make primo condos...
In a classic example of the maxim no good deed goes unpunished, the United States suffered a verbal slighting by the head of the United Nations this past Wednesday.
U.N. Secretary-General Ban Ki-moon called the US a "deadbeat" regarding its contributions to the UN's operations. The US does have a history of making its contributions late because of its different budget calendar and because lawmakers have attempted to influence UN policy by withholding funds. Yet, the US taxpayer money that goes into the UN does account for 22 percent of the world body's nearly $5 billion budget. Whattsamatta, Ban Man? Didn't like the dinner menu?
The Obama administration's response: "I think given the contribution that the American taxpayer makes, I do think it would be appropriate to acknowledge that role." A better response would've been, "I wonder if the UN would like to relocate to Somalia. Or Gaza. And without our money."
Ban Ki-moon did just that - in an after-midnight statement: "My point was simply that the United Nations needs the fullest support of its members, and never more so than in these very demanding times." And my point is simply , "I wonder if the UN would like to relocate to Somalia. Or Gaza. And without our money."
Other US lawmakers were not so tepid as the Obama team in their response to the UN secretary's comments. Representative Ileana Ros-Lehtinen, a senior Republican on the House Foreign Relations Committee, said she took "great umbrage" at the secretary's comments and that they were "beyond belief." She went on to say:
Last year, American taxpayers ponied up nearly $5 billion for the UN system. The U.S. is by far the world's largest donor to the UN. The U.S. provides other assistance for peacekeeping operations. The U.S. responds to emergency appeals. We are always on deck. Yet, the head of the UN comes to Congress and scolds us for not doing enough? He demands yet more money from us while making little progress in cleaning up the badly-broken UN? The UN's ineffectiveness is not from a lack of cash, but the result of a corrupt system which wastes money and apologizes for dictatorships. The UN has been hijacked by a rogues' gallery that uses our funds to undermine peace and security. Dictatorships use the Human Rights Council and Durban 2 conference process to restrict universal freedoms and protect extremists. The UN Relief and Works Agency (UNRWA) aids violent Islamists and partners with money-laundering banks under U.S. sanctions or under U.S. investigation for financing Islamist militants. The UN Development Program (UNDP) pays the legal fees of its corrupt officials but refuses to protect whistleblowers. While Iran, Syria, and North Korea endanger the entire world, the UN is pre-occupied with condemning democratic states like the U.S. and Israel. The American people are facing serious economic challenges here at home. How can a morally-bankrupt UN ask our taxpayers to bail them out?
Like she said, they're morally bankrupt. That makes it easy...
#4
I think its high time we tell them to fuck off and give them a 24-hour eviction notice - after that everything in the building (papers, etc...) become property of the NYC sanitation department.
And stop insulting whorehouses. At least with them you enjoy being f-ked over.
#5
4.5% and not a penny more. No need for Uncle Sucker to pay 22% of general funds, 33% of peacekeeping costs, 50-60% of food aid only to have the recipients steal it and take hostages. If the world wants to act like barbarians and prima donnas, then do so on someone else's dime. I recommend the Japanese to the same.
Posted by: ed ||
03/13/2009 14:56 Comments ||
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#7
To paraphrase someOne... "We are 5% of the world's population, and we account for 22% of the UN budget? Okay..."
Posted by: Grenter, Protector of the Geats ||
03/13/2009 15:41 Comments ||
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#8
And, of course, two of Massachusetts usual suspects step in to back him up...
Some of the House and Senate leaders who met with Ban agreed with his assessment of the United States' late payments.
"Clearly they have an interest in the United States meeting its responsibility. In terms of peacekeeping, we're about $670 million behind, and I think the argument is well-stated," said Rep. Bill Delahunt, a Democrat on the House Foreign Relations Committee.
Ban also met with Democratic Rep. Ed Markey, who heads a House global warming panel, and Sen. John Kerry, the Senate Foreign Relations chairman. "Around the world, the United Nations is underfunded and overtasked," Kerry said, standing beside Ban and Republican Sen. Richard Lugar.
#10
There is a pond out here known for its leeches and water moccasins. I propose Mr. Moon go sit in that pond 1 minute for every $1 million received by USA taxpayers during his so far brief and predictable tenure as momma-san for the International Cat House of Pug Fickers.
THAILAND'S opposition filed an impeachment motion against Prime Minister Abhisit Vejjajiva on Wednesday, accusing him of abusing his power and siding with protesters who hijacked Bangkok's airports.
Posted by: Fred ||
03/13/2009 00:00 ||
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BARGAIN-HUNTING Australians are raiding the US housing market where huge family homes are for sale for just $1.50. Foreign buyers are traveling to US foreclosure hotspots where properties are listed for $US1000 ($1500), $US500 ($750) - even as little as $US1.
One prominent dealer in Detroit - a town crippled by the collapsing car industry - has sold properties to Australian buyers for just $US3000 ($4500).
Suckers!
Vacuum cleaner manufacturer Theo Szinger, 67, of Brisbane, cashed in his superannuation and plunged it into Detroit property last year. He has not looked back, snapping up six properties for as little as $5000. "You can't even buy a second-hand car for that," Mr Szinger said.
His latest buy, a $16,000 home in such good condition it did not even need a paint job, came with a $10,000 rates bill but he was still thrilled with the deal.
Mr Szinger is among the enterprising Aussies who have swooped on the ailing US home market where homes worth $200,000 18 months ago are going for a few thousand dollars.
"We've had a handful. Typically, they have been paying $US3000 to $US5000," Detroit foreclosure specialist Mike Shannon said. Mr Shannon said he had more than 100 lower quality homes listed in the Detroit metropolitan area for sale at just $US1.
#2
One prominent dealer in Detroit - a town crippled by the collapsing car industry - has sold properties to Australian buyers for just $US3000 ($4500).
Anyone mention to the buyers that local gun control laws negate the ability of the settlers to safely occupy said land? Nah. Didn't think so. Better hurry on up to claim your prize before the sheriff is out in front of the county court house reselling for uncollected property taxes.
#3
How to go from America's richest city to poorest in 50 years. Welcome to America's financial and trade policy in action. I'm just waiting for Detroit to begin exporting mail order brides. Not that there would be any demand for them.
As for Mr Szinger, a sucker born every minute comes to mind.
Posted by: ed ||
03/13/2009 17:41 Comments ||
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#4
Very sad. Buyer's remorse will arrive as soon as they open their property tax notifications. Be advised, it does not matter what the home sells for it is what the city thinks it is worth, ie, "state equalized value (SEV). Assessors don't use a house's sale price to determine "True Cash Value. Buyers beware! You may have just purchased a giant pain in the arss.
BEIJING -- Premier Wen Jiabao voiced confidence in China's economy, saying his government's finances give it room to spend even more to support growth if needed, but expressed concern about the outlook for the U.S. and the safety of its Treasury bonds. Uh Oh. That pesky bond market. Someone is noticing.
The forceful comments from Mr. Wen's annual press conference -- a rare opportunity for domestic and foreign reporters to ask a top Chinese official questions directly -- helped depress the U.S. dollar and prices of U.S. Treasurys in Asian trading Friday.
Premier Wen Jiabao, at his annual press conference marking the close of China's legislative session, spoke forcefully about the effect of China's policies on the global economy.
The public airing of his concerns reflect how the relationship between China and the U.S. has been evolving under the pressure of the financial crisis. For years the U.S. has pressed China to change the way it runs its economy, such as by opening up its financial system. But in the last year China's government has been increasingly vocal about what it sees as U.S. economic mismanagement. And as the U.S. government's largest creditor, it has become more assertive in trying to ensure its interests receive a hearing. When the bank calls you up and says you need to behave better if you still want your line of credit, what do you do [assuming you are sensible - sorry scratch that]
"We have lent a huge amount of money to the U.S., so of course we are concerned about the safety of our assets. Frankly speaking, I do have some worries," Mr. Wen said in response to a question. He did not offer specific suggestions on economic policy to the U.S. government, but called on it to "maintain its credibility, honor its commitments and guarantee the security of Chinese assets." "guarantee the security of Chinese assets" = stop jeopardizing the US$ by spending too much on silly projects which don't constitute legitimate immediate stimulus i.e. if the plumbing and electrical system need fixing, don't just spend on a coat of paint and a new jacuzzi
Mr. Wen did indicate that China would not be rash in making changes to its $1.946 trillion stockpile of foreign reserves, much of which is in U.S. dollars. While China is naturally looking out for its own interests, it will "at the same time also take international financial stability into consideration, because the two are inter-related," he said.
In that vein, Mr. Wen also pointed out that China hasn't pushed down the value of the yuan, despite pressure on its exporters, and repeated his government's commitment to currency stability. The yuan has hovered around 6.84 to the dollar since July 2008, but Mr. Wen noted that because the dollar has risen against other Asian and European currencies, the yuan has actually become stronger overall.
He said China alone would decide where the yuan goes from here. "No country can pressure us to appreciate or depreciate" the currency, he said.
Despite the rising external challenges, Mr. Wen reaffirmed his belief that China should be able meet its traditional target of economic growth of around 8% this year. He said market expectations last week of another stimulus package were based on "rumors and misunderstandings," and that China's announced program of four trillion yuan in investments over two years will help meet "both short-term and long-term needs."
China's government is planning on an eightfold expansion of its budget deficit this year, to around 3% of gross domestic product, to fund the stimulus program. Mr. Wen said government debt remained at a manageable level and that conservative budgeting in previous years means China is well positioned to do more if necessary.
"We have already prepared plans to deal with greater difficulties, and have reserved adequate ammunition. We can introduce new stimulus policies at any time," he said.
Mr. Wen said that China is also closely watching to see the effects of the policies taken by U.S. President Barack Obama aimed at returning the world's largest economy to health. Chinese foreign minister Yang Jiechi was also in Washington this week to discuss how the two countries can cooperate on economic policy, among other issues.
A test of that cooperation is quickly approaching. U.S. Treasury Secretary Timothy Geithner this week called on the Group of 20 -- a gathering of the world's largest developed and developing economies -- to increase funding for the International Monetary Fund by up to $500 billion to help combat the financial crisis. Achieving that sum likely will depend on getting agreement from countries that hold large foreign exchange reserves, such as China and Saudi Arabia. How the balance has changed
Ahead of a preparatory meeting of G-20 financial officials this weekend near London, Mr. Wen said pointedly that "increased funding for the IMF is not a question for just one country" but for all member nations. He also repeated China's desire to see reforms to the IMF that give more clout to developing nations.
The Chinese premier's annual press conference is held each March at the close of the country's legislative session. Mr. Wen was asked about a broad range of subjects, from relations with France and Russia to the possibility of political reform in China and the sensitive issue of Tibet.
Mr. Wen used harsh language against the Dalai Lama, Tibet's spiritual leader, who accused the Chinese government this week of turning the Himalayan region into a "hell on earth." He said talks between Beijing and the Dalai Lama, which took place last year without making any progress, could only resume if the Dalai Lama is "sincere."
Despite blanket security in Tibet around the 50th anniversary of the Dalai Lama's flight from Tibet, Mr. Wen said that "the situation in Tibet on the whole is stable. The Tibetan people hope to live and work in peace and stability." So China is now playing the adult/banker lecturing the child/borrower about better behaviour. How the balance has shifted. It is a sad day when the US stock market get's more of a bump from a chinese rumored stimulus than all the nonsense coming out of the US administration. That is outsourcing reasonable economic stimulus.
Posted by: Omoter Speaking for Boskone7794 ||
03/13/2009 08:53 ||
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#1
A great paranoid fantasy that came out about this a week ago was that Obama was willing to offer huge tracts of US federal lands to the Chinese as collateral that the US would not default on its T-bills.
#3
If I recall correctly, during the last days of the Soviet Union, they came to the United States looking for a loan. Reagan refused and the Soviet Union subsequently collapsed. So, what would happen if the Chicoms refused us anymore credit?
#4
The fact we need to borrow money from one of our ... um... well enemies might be too harsh a word but... how about a aggressive regional competitor, to fund our corruption part is just sad and self destructive.
#5
So, what would happen if the Chicoms refused us anymore credit?
"War Bonds" sold directly to the population. Guess how well they'd sale too? /rhetorical question. Liberal charity is spending other peoples money by government appropriations, not their own. I doubt all those 'high rollers' who funded the election would be so willing to volunteer their assets to such a 'bond' drive at the level required to fund a trillion dollars worth of graft stimulus. Those campaign contributors were giving graft money in the expectation of a 'return on investment' not a theft taking of what they already had accumulated.
#7
We'd have to stop buying crap that depreciates faster than a 30 yr. US T-bill.
Yeah, and there are those of use who would like that. But the question then becomes, What if they decide it's worth the risk?
I mean, it's not as if these are benevolent people who are really all that concerned about "international financial stability" if they thought they could take advantage of the instability. These are the kind of people who would sacrifice millions of their own people if they think it will enhance their power. I just wonder if there is anybody in our government who is wondering the same things. Or are they all more concerned about getting a second, third or fourth mortgage so they can "buy more stuff"?
#8
So, what would happen if the Chicoms refused us anymore credit?
Or the entire world fort that matter? We'd stop buying their goods. We'd build factories in the US, exploit our own resources and employ our own workers.
Posted by: ed ||
03/13/2009 15:10 Comments ||
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This has got to be the dumbest idea on the planet. Well, one of them at least. Let's see. Did China or India back off on schooling even when their economies were in way worse shape than that of the US? Why? How do you get ahead in the world with a poorly educated younger generation who are supposed to carry us into a more competetive future? It's hard enough for women to work given school schedules, and now they want to take them completely out of action on a business day? And who is going to keep these kids under control while single moms are off trying to put together a living for their family? Or even if both parents are there? Ain't nobody this stupid. There must be something else going on here.
With the nation's school districts strapped for cash, more are considering a schedule that delights students and makes working parents cringe: Class only four days a week. By extending school hours and eliminating a day of classes each week, education officials say they could save busloads of money on transportation and utilities.
That's all fine by Layla Bahabri, a 10th-grader at South Florida's Charles W. Flanagan High School, who likes the idea of sleeping in and studying on the extra day off. "We could catch up on whatever we want to do," she said. That's what is called a contrarian indicator. Continued on Page 49
#3
By extending school hours and eliminating a day of classes each week, education officials say they could save busloads of money on transportation and utilities.
Bus loads of money can be saved by capping the number of education official administrative positions [and office space plus utilities] to 1960s levels.
#6
Four ten-hour school days instead of five eight-hour days? Our elementary school has offered before and after school babysitting programs run by the YMCA for years anyway, so I don't see the issue with them dropping or cutting short the after school program to substitute all day Friday instead. Our high school is already offering a Zero period for seniors to get in their required courses and go off to work at noon -- it's very popular. Also among those who want to take an extra course for the sheer masochism of it all.
Single working parents and couples where both parents work are going to find themselves struggling to manage the impossible, regardless. Covering a third weekend day might actually be easier than trying to beat rush-hour traffic that fifth day in a row.
#7
I don't think there are many employers who will be interested in employing someone who can only be at work four days a week. The solution will be to extend schooling an extra hour each day and be done with it. The cost savings I believe are not worth the harm they will cause in the future. And the present.
#9
Extend the school year round. Kids don't plant or harvest the crops anymore. Over the summer they just forget what they learned and much of the fall is devoted to review.
Push the college curriculum into high school for those that can handle it or shorten/eliminate high school all together. Replace it kids starting the local college at 15 and an intensive vocational/apprenticeship for those so inclined. Get the kids immersed/productive instead of bored and into drugs and criminality.
Posted by: ed ||
03/13/2009 14:46 Comments ||
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#10
Slash the non-teaching overhead by 50%. Then cut it again by 10%. Maybe start with those "teacher aides". They didn't have these creatures when I went to school. What the hell are they good for, anyways?
Posted by: Mitch H. ||
03/13/2009 16:18 Comments ||
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#11
What the hell are they good for, anyways?
Someone has to work with all those kids who were mainstreamed into a system not designed to handle their special needs, Mitch. Trailing daughter #2 had an aide in her elementary school classes to keep the lad with the impulse control/bullying problems from harming the other kids -- his father thought the behaviour was cute. The rest do all those things that PTA mothers used to do back when most mothers didn't have paying jobs.
Bernard Madoff's freedom came to an end Thursday with the definitive "click-click" of handcuffs closing around his wrists, just moments after he pleaded guilty to defrauding investors of $65 billion in a transatlantic pyramid scheme.
The disgraced financier told a packed Manhattan courtroom that he was "deeply sorry" for robbing and in many cases bankrupting thousands of unwitting clients, including a number of large Jewish charities and institutions, in a scam of unprecedented size and scale.
"I knew what I was doing was wrong and criminal," Madoff, 70, said in a clear voice after entering guilty pleas on 11 criminal counts, ranging from securities and investment fraud to money laundering.
Madoff, who had been living under house arrest at his posh $7 million penthouse apartment on Manhattan's Upper East Side since he was charged in December, was taken to a federal detention center in lower Manhattan immediately after the hearing.
He faces up to 150 years in prison when sentenced, possibly as early as June.
Prosecutors estimate he handled more than $170b. in deposits and faked returns over the course of the swindle, skimming off millions to finance a lifestyle that included vacation homes in Palm Beach and Montauk, and lavish gifts to family and friends.
Posted by: Fred ||
03/13/2009 00:00 ||
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...but not that guilty.
NEW YORK Bernard Madoff's lawyers are appealing a judge's decision to revoke his $10 million bail and send him to jail to await sentencing. Madoff pleaded guilty Thursday to 11 felony counts including securities fraud and was immediately jailed. His lawyers filed papers with a federal appeals court Friday. The court papers were not immediately available.
Bail was revoked after the 70-year-old financier confessed to carrying out what may be the biggest fraud in Wall Street history. Madoff told U.S. District Judge Denny Chin that he was "deeply sorry and ashamed."
Sentencing is June 16. Madoff is facing up to 150 years, plus fines and mandatory restitution.
Oil prices have plunged amid rising crude oil stockpiles in the US and skepticism over potential further production cuts by OPEC members.
On Wednesday, New York's main futures contract, light sweet crude for April, dropped 3.38 dollars from its closing price on Tuesday to 42.33 dollars. In London, Brent North Sea crude for delivery in April fell 2.56 dollars to settle at 41.40 dollars a barrel.
The US Department of Energy announced on Wednesday that US crude oil reserves increased by 700,000 barrels last week, which was slightly more than market expectations.
Also on Wednesday, Algerian Energy Minister and former OPEC President, Chakib Khelil, said that the market would continue sliding if the organization refrained from cutting output. Khelil said he believed the "majority" of OPEC's 12 member nations backed a reduction in production that would help to support prices and in turn boost their incomes.
Posted by: Fred ||
03/13/2009 00:00 ||
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A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
WASHINGTON -- Chinese Navy officers reacted with annoyance today when it emerged that the United States had sent a destroyer to back up a surveillance vessel in the South China Sea after it was harassed by People's Liberation Army sailors. The decision by President Obama to send an armed escort for U.S. surveillance ships in the area follows the aggressive and co-ordinated manoeuvres of five Chinese boats on Sunday. The vessels harassed and nearly collided with the unarmed USNS Impecccable.
The history of The Seattle Post-Intelligencer stretches back more than two decades before Washington became a state, but after 146 years of publishing, the paper is expected to print its last issue next week, perhaps surviving only in a much smaller online version.
Pakistan Muslim League-Nawaz (PML-N) chief Mian Nawaz Sharif has strongly condemned the detention of lawyers and political workers in Karachi and called on the government to show restraint from using negative tactics. PML-N chief said that arrests of political workers participating in the long march were regretful and demanded of the government to immediately release them. He called for government not to use negative tactics for a peaceful march.
Washington's Ambassador to Islamabad Anne W. Patterson has said that US wants to see strong democratic institutions in Pakistan. She expressed these views while speaking to Pakistan Muslim League-Nawaz (PML-N) chief Mian Nawaz Sharif at Raiwand here on Thursday. Patterson said that all democratic forces should work jointly to strengthen the democracy in the country. While Nawaz Sharif said that US should respect the aspirations of the people of Pakistan. Former chief minister Punjab and PML-N president Mian Shahbaz Sharif and Chaudhry Nisar Ali Khan were also present in the meeting. 
(AKI) - By Syed Saleem Shahzad - As thousands of Pakistani lawyers and political activists clashed with security forces in their bid to march to the capital, Islamabad, many political leaders went into hiding on Thursday to avoid arrest.
BARGAIN-HUNTING Australians are raiding the US housing market where huge family homes are for sale for just $1.50. Foreign buyers are traveling to US foreclosure hotspots where properties are listed for $US1000 ($1500), $US500 ($750) - even as little as $US1.
Oil prices have plunged amid rising crude oil stockpiles in the US and skepticism over potential further production cuts by OPEC members. 
