Secretary of State Condoleezza Rice on Thursday all but conceded that an Israeli-Palestinian peace deal by a year-end deadline is no longer possible. What was your fist clue, Condi?
But she also said upon arriving here that it is important to maintain momentum and support for the negotiations so that new governments in both Israel and the United States have "a firm foundation" to continue to the talks next year. Because "momentum" in negotiations is how things get done in the real world, as opposed to negotiations mediating details and establishing commitments based on changes and facts in the real world. Right.
En route to the Middle East for her eighth trip to Israel and the Palestinian territories since the parties set the deadline for reaching an agreement at last November's summit at Annapolis, Md., Rice said political uncertainty in Israel is the main complication to the goal. Sixty years of bitter treacherous genocidal hostility, duplicity, and barbarism from the Palestinians, who themselves are a collection of competing gangs and terrorist outfits, posing as a divided ramshackle clownfest of Third World political theater, is a subsidiary complication, I guess.
Israeli Prime Minister Ehud Olmert is being forced from office by a corruption scandal, and the country is set to hold new elections in February. Rice noted that the situation "is a constraint on the ability of any government to conclude" a deal."I've learned never to predict in this business," she said, "but it is clear we're in a different situation now because Israel is going to elections." Damn Israeli democracy. I recall an Argentine diplomat, after the break-up of a mediation session with the UK over the Falklands issue - before the war - remarking drily to a journalist that it was difficult dealing with democracies, as they were so unstable. But, uh, Condi, the problem here ain't Israeli elections.
"It is our expectation that the Annapolis process has laid groundwork which should make possible the establishment of a Palestinian state when the political circumstances permit," Rice added. "I think that whatever happens by the end of the year, you've got a firm foundation for quickly moving this forward to conclusion." Right. Because a "process" in a hotel in Maryland is what makes such things happen. Not actual behavior by real Palestinians. "Firm foundation"? WTF? Did I miss something?
The two sides for months have been backing away from the timeline pushed in Annapolis. Which neither side ever took seriously. Duh.
Although Rice refused to absolutely rule out the chance of an agreement by year's end, her remarks reflect the first time that a Bush administration official has publicly not held out hope that the deadline could be met. Israeli and Palestinian officials have long said they believe the year-end deadline is unrealistic. Probably starting, quietly to each other, as the deadline was being "agreed to" in Annapolis. Of all the foreign policy reverses, the 180 done on "Mideast peace" by Dubya was the most disappointing and damaging. Now, incredibly, the father of 10 years of taffy-yanking and terrorism, Ross, is headed back to the scene of his earlier crimes of cluelessness. So long as there is no press, there is infinite up-side to incompetence, even the kind that gets lots of people killed. Amazing.
#2
The fact is that it was never and for one treason: one of the parties has no incentive to make peace because it makes war for free. The more the Palestians spend on Kassmas and the more we, westerners, foot the bill. Officially for butter not for guns but money is fungible. The day the Palestinains will have to choose between war and etaing then and only then there willbe a tiny perspective of peace.
The fact is that it was never and for one reason: one of the parties has no incentive to make peace because it makes war for free. The more the Palestinians spend on Kassams and the more we, westerners, foot the bill. Officially for butter not for guns but money is fungible. The day we no longer pay andthe Palestinians will have to choose between war and eating then and only then there will be a tiny perspective of peace.
#4
Slightly off subject, I'll bet she keeps her job,
Since she's not only very good, but black to boot.
Posted by: Redneck Jim ||
11/06/2008 12:51 Comments ||
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#5
The entire Arab world is committed to destroying Israel. Until THAT changes, there can be no peace in the Muddled East.
The more I see of the Arab neighbors of Israel, the more they remind me of the welfare recipients here in the United States. It's never "what can I do to get me out of this mess?", but always "what can I get someone else to give me to get me out of this mess?". Also, no matter how much you DO do for them, they always insist it isn't enough, and they want more. The proper identifying label for such "people" is "parasites", and most of the time parasites are considered "vermin".
Posted by: Old Patriot ||
11/06/2008 13:01 Comments ||
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#6
Slightly off subject, I'll bet she keeps her job,
Since she's not only very good, but black to boot.
Really? I hadn't noticed. Thank-you for pointing that out to me. Is she "articulate" too?
#9
We have helped to enable this sorry situation because we have not held the Paleostinians accountable for their actions. They have learned well from our well meaning, but stupid actions. We have forced concessions on Israel while not holding the PA to their agreements. We give money to thieves, terrorists, and thugs with no accountability. And we expect a better outcome?
So who is really the stupid party here? The Bush Administration has fallen into the same trap as previous administrations: they went for the brass ring of change powered by hope, and not powered by the facts on the ground.
So what's Pres Elect B.O. gonna do? Throw Israel under the bus? Dump more money down the rathole? Take Hamas to lunch? So many stupid decisions, so little time.
Posted by: Alaska Paul ||
11/06/2008 14:38 Comments ||
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#10
"Since she looks very good in her black boots."
That's how I read it. :)
Posted by: bill clinton ||
11/06/2008 14:40 Comments ||
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#11
Condi is out of there January 20th. The Dems hate her.
Obama will impress the hell out of me if he tells the Paleos to pull up their baggy pants start behaving like rational human beings before he gives them a damned thing. Alas, I suspect that won't happen.
Posted by: Steve White ||
11/06/2008 14:46 Comments ||
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#12
i would suspect the sun will go nova before Obama tells the paleos to act responsibly.
shoot, i don't think the idea of responsibility is in his cognitive set.
Posted by: Abu do you love ||
11/06/2008 17:15 Comments ||
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#13
Obama will impress the hell out of me if he tells the Paleos to pull up their baggy pants start behaving like rational human beings before he gives them a damned thing.
Won't happen. Look at his foreign policy advisors.
#14
Obama will impress the hell out of me if he tells the Paleos to pull up their baggy pants start behaving like rational human beings before he gives them a damned thing. Alas, I suspect that won't happen.
Won't happen. We'll be lucky if he doesn't pull his own pants down, cover his raison with a crooked CUBS cap and moon walk off the plane to high-five them on the tarmac.
#15
Again, Osama Bin Laden, etal. and Radical Islamism are NOT waging this Jihad for mere PARITY. * ISLAMIST "JIHAD" > MILPOL JIHAD/WAR FOR THE UTTER DOMINATION, CONQUEST, DEFEAT + DESTRUCTION OF THE INFIDEL, i.e. ISRAEL AND WORLD NON-ISLAM.
MUSLIM/ISLAMIC MIL HISTORY > indics that despite their setbacks in Iraq + Afghnaistan, etc, THE ISLAMISTS WILL EVENTUALLY RETURN AGAIN TO ATTEMPT TO REGAIN SEEMINGLY LOST OR DAMAGED "HONOR" + CREDIBILITY, except at that time they will prob be NUCLEARIZED.
It is not enuff to militarily defeat their Groups andor Armies on the battlefield - they must be defeated POLITICALLY, ECONOMICALLY, CULTURALLY + IDEOLOGICALLY, ETC, AS WELL. THEIR NEAR-TERM AND LONG-TERM STRATEGIC PREMISES AND AGENDUMS MUST BE DEFEATED. The USA-ALLIES MUST BE WILLING TO INVADE AND OCCUPY MUSLIM NATIONS, "NATION BUILD" = ENGAGE IN NATIONAL RECONSTRUCTION, + RESHAPE ISLAMIC HEARTS, MINDS, AND SPIRIT ETC. UNTO THE MODERN + DEMOCRATIC WORLD. This is why I'd argued that, as per the 9-11 event, the Islamist Threat is such that Americans may have to conquer the World whether they want to or not, like it or not, LEST THE ISLAMISTS SUCCEED OVER TIME IN PER SE DESTABILIZING AND DESTROYING AMERICA = WESTERN CIVILIZATION.
"PARITY" IS FOR POLITICIANS, NOT GOD-BASED JIHADISTS!
#16
IMB the key benchmark on whether the Islamists, etc. will return to refight the "WAR/BATTLE FOR IRAQ", and by extension JERUSALEM AND WHOLE OF THE ME, and for Muslim "honor", WILL BE IFF IRAN CAN FORMALLY CONDUCT TWO OR MORE SUCCESFUL INDIGENOUS NUCLEAR BOMB TESTS, etc. NLT 2010.
Year 2012, while possible as a maxima, would also be "risking/pushing the envelope", espec as per ISRAEL. THE ISLAMIST NUCLEARIZATION STRATEGY IS DEPENDENT ON THE US "STAYING PUT" IN IRAQ- AFGHANISTAN, OR IN THE ALTERN REDUX AND LEAVING TO GO BACK TO AMERICA - THE LONGER THE US ISOLATES OR LIMITS ITSELF, THE MORE THE JIHAD CAN BE SALVAGED, ENDURE, AND BECOM EMPOWERED VIA NUCLEARIZATION = GEOPOL INTIMIDATION OF WORLD NON-ISLAM.
(SomaliNet) The U.N. Secretary-General Ban Ki-moon has asked the Security Council to approve a "surge" of more than 3,000 troops and police to help prevent a full-scale war from erupting in eastern Congo. The UN chief urged the 15-nation council to consider the request "expeditiously" given the possibility of an escalation of fighting in Congo. But there was no sign that the divided Security Council would discuss Ban's request any time soon.
Don't worry, Obama will want us to take the mission on, since there's nothing in it for us.
The U.N. mission in the Democratic Republic of the Congo, known by its French acronym MONUC, is the largest U.N. peacekeeping force in the world, with 17,000 troops and police across a country the size of western Europe. But Ban's letter, obtained on Tuesday by Reuters, said it was no longer enough. "The current crisis emanating from CDNP's (rebels') recent offensive clearly underscored that the resources available to (MONUC) are not commensurate to the security challenges on the ground," the letter said.
Perhaps if the Mighty Uruguayans did something other than cower in their barracks ...
Meanwhile, aid agencies say tens of thousands of civilians are roaming the countryside in eastern Congo unprotected, in need of shelter, food, water and medical care. Some of the displaced have accused MONUC of failing to protect them from violence and looting, not just by armed rebel groups like renegade Congolese Tutsi Gen. Laurent Nkunda's CDNP, but also by Congolese government forces. The CNDP has been poised to seize the capital of North Kivu province, Goma, since last week. Nkunda threatened on Tuesday to take Goma and press on towards the capital Kinshasa unless the government agrees to talks on the country's future.
Ban warned the council in his letter that the need to send peacekeepers to help protect Goma from the CNDP meant that the U.N. presence across eastern Congo has become uneven. "The priority to protect Goma through a series of reinforcements has significantly reduced MONUC's presence in other critical areas of the country," the letter said.
A January peace deal collapsed in August in Congo, where a 1998-2003 war and resulting humanitarian disaster have killed some 5.4 million people, mostly through hunger and disease. As the crisis deepened, the head of MONUC, Alan Doss, asked the U.N. Security Council on October 3 for additional troops and military hardware to help him deal with Nkunda's advance.
Ban's letter spells out what additional forces the U.N. peacekeeping department wants -- two infantry battalions, two companies of special forces, 18 utility helicopters with 260 personnel and two C-130 Hercules aircraft with 50 staff.
Not too many countries in the world with the ability to meet that request, and the list grows smaller when you ask for the mission to be sustained for nine months.
MONUC would also like a company of engineers, intelligence experts, military trainers and two police units. Ban said this "surge capacity" would be needed for around nine months and would add 3,085 police and military personnel to MONUC.
The Security Council is not scheduled to discuss MONUC until November 26, though Costa Rican Ambassador Jorge Urbina, the current council president, said it would probably hold an emergency council session on the Congo crisis before that. However, he said "there is no consensus" on the issue of the U.N. secretariat's request for more troops.
Posted by: Steve White ||
11/06/2008 00:00 ||
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#1
No problem, we'll just pull 20,000 guys out of Afghanistan and let them sit in the Congo while the French lecture to them endlessly on counter-insurgency tactics.
Police yesterday cleared former premier also Awami League (AL) chief Sheikh Hasina of a Tk 5 crore bribery charge in a case filed by a businessman, Noor Ali, in June last year.
Posted by: Fred ||
11/06/2008 00:00 ||
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Venezuela's government has decided to put Las Cristinas gold mine, operated by Crystallex International Corp. under state control. "This mine will be recovered and will be operated under state administration,'' the Mining and Basic Industries Ministry said on Wednesday in a statement.
Hugo is getting desperate for cash?
Las Cristinas gold mine is estimated to have about 31 million ounces of gold ore and valued at about $35 billion. Las Cristinas is owned by the government but under a contract, it is operated by Toronto based Crystallex. It is located in a huge forest reserve in southeastern Venezuela.
The company said it had not been informed of any change to its status in Venezuela.
The Venezuelan government has nationalized industries that President Hugo Chavez has deemed to be ``strategic.''
Mining Minister Rodolfo Sanz said in the statement that the government plans to seize other mining deposits to increase production of gold, diamonds, bauxite and uranium.
Posted by: Fred ||
11/06/2008 00:00 ||
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#1
If they dig gold the way the make concrete they're in big trouble.
#9
Glenmore, I have a really neat holster that clips INSIDE my belt, nothing to see.
Posted by: Redneck Jim ||
11/06/2008 13:07 Comments ||
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#10
Well he lost 300 mil at Lehman Bros. and gas prices are down so where else is he going to get the money for all those military toys that he wants to buy.
Johnson! Stop the presses!!
MOSCOW (Reuters) -- Russian President Dmitry Medvedev could resign from his post in 2009 to pave the way for Vladimir Putin to return to the Kremlin, Vedomosti newspaper reported on Thursday, citing an unidentified source close to the Kremlin.
Medvedev Wednesday proposed increasing the presidential term to six years from four years, a step the newspaper said was part of a plan drawn up by Vladislav Surkov, who serves as Medvedev's first deputy chief of staff. Under the plan, Medvedev could implement changes to the constitution and unpopular social reforms "so that Putin could return to the Kremlin for a longer period," the newspaper said."Under this scenario Medvedev could resign early citing changes to the constitution and then presidential elections could take place in 2009," the newspaper said, citing the unidentified source close to the Kremlinl.
The paper said Putin, who is currently prime minister, could then rule for two six year terms, so from 2009 to 2021. The paper cited Putin's spokesman as saying he saw no reason for Putin to return to power in 2009.
Investors, already jittery over the impact of the financial crisis on Russia's economic boom, are trying to work out who is really in charge of Russia, the biggest question for those seeking to ascertain political risk.
Oh criminy, it's obvious who's in charge: Putin. Medvedev is a loyal sock-puppet, and he wouldn't last fifteen minutes if Putin wanted him gone. I say fifteen minutes only because it takes at least ten minutes to order up the thorium ...
They are seeking any details on how the current set up -- with Medvedev as president and Putin as prime minister -- could change. During Medvedev's speech Wednesday the Russian stock market erased most of the gains it made earlier in the day.
This is a stage production for the benefit of European and American leftie rubes. Putin wants to be Prez because it's the big cheese position. 'President' sounds better than 'prime minister'. In Russia, of course, 'general secretary' or 'Czar' sound best.
#5
Ancient ME kingdoms used to sacrifice their old kings to the gods. It's tidier that way.
Posted by: Richard of Oregon ||
11/06/2008 12:05 Comments ||
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#6
POTUS Jimmy Carter's greatest domestic and international headaches came from his fellow Amer + International Lefties > AT LEAST BARACK CAN CLAIM HE WASN'T LEGALLY OR FORMALLY SWORN IT AS NEW POTUS YET WHEN THE RIPPLES STARTED???
Ohfergawdsake. He's been elected for less than 24 hours. Yeah...so what's the holdup? An Arab dictator would have had the political opposition shot by now ...
As this year's historic American presidential race draws to an end, people across the Middle East anxiously waited to see how Americans would vote in anticipation of what the future holds for the turbulent area.
The vote, which has generated unprecedented levels of interest worldwide, will be closely watched by Arabs with some pan-Arab news channels offering 24-hour coverage on Election Day.
Despite the high level of interest in the election, many Arabs say neither of the two presidential candidates offer much hope for change in the Arab world., Republican John McCain is viewed as an extension of the current administration, and Democrat Barack Obama as powerless to make any real changes in the Middle East.
Thirty-two percent of Arabs polled by Zogby earlier this year believed that American policy towards advancing peace in the Middle East will remain the same, with only 18 percent believing that Obama and 4 percent McCain had the best chance of advancing peace.
According to an AlArabiya.net poll, 62 percent of readers said that the elections do not matter to them because either way the new president will be an avid supporter of Israel.
Posted by: Fred ||
11/06/2008 00:00 ||
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#2
True, bigjim-ky. What they don't know, though is that Obamarx is an avid supporter of... Obamarx.
That is his prerogative and so if it will be expedient to be an avid supporter of Israel one day, and an avid unsupporter of Isreal the next, that's the way it will be.
#3
Arabs say neither of the two presidential candidates offer much hope for change in the Arab world
That's because 90% of all your problems are the person in the mirror. Even if your scapegoat Israel disappeared off the map today, there still would be no change in the neighborhood and cloistered world you live in.
#4
Arabs say neither of the two presidential candidates offer much hope for change in the Arab world
Not antisemitic enough! Not muslim supremacist enough! Not paying enough tribute to the Master Race! Obviously, there's no pleasing some people, if the Zero is not suitable enough for them, then only a military coup by CAIR would satisfy them (and probably not even that, as they start infighting).
The Iranian daily Jomhouri-ye Eslami's editorial was headlined, "That Black Man Will Never Change U.S. Policy." It added, "The most that that black man can do in the White House is to replace some of the staff and change some ceremonial procedures. He will never manage to change the structure of the American regime, which was established by capitalists, Zionists, and racists."
ISLAMABAD The newly formed Public Accounts Committee (PAC), a key accountability panel of the National Assembly has, in its first meeting, decided to launch a probe against former president Pervez Musharraf on corruption charges and abuse of power in the grant of contracts in the communication ministry
This is how they'll get Perv. The military and ISI will not be willing to defend him on a corruption charge, since he's guilty, just like every other politician in Pak-land without exception is guilty. It's in their culture. The military will feed him to the dogs and move on with whatever plans they have.
The PAC, headed by PML-N leader Chaudhry Nisar Ali Khan, formed a five-member sub-committee which also includes two former members of the Musharraf regime, Zahid Hamid and Hamid Hiraj. The contract was carried out by the National Highway Authority (NHA) whose chairman has also been charged with importing four vehicles worth Rs40 million in violation of rules.
Chaudhry Nisar said he would talk to army chief Gen. Ashfaq Parvez Kayani to let the panel conduct probe against military officers on allegations of corruption.
The PAC directed that the ministry recover Rs16 million paid illegally to Hasnain Construction Company, an outfit owned by the father-in-law of Gen. Musharrafs son Bilal. You have already given them many lucrative contracts in the past. Get this money back or get ready for strict action against all of you, warned Nisar Ali Khan.
PAC members were shocked when Nisar informed them that a billion rupee Rest House was being built at Naraan (Northern Areas) with the taxpayers money after blocking the flow of a river and playing havoc with the environment only for the bosses of the NHA and their families.
Posted by: Steve White ||
11/06/2008 00:00 ||
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A prominent Shiite scholar denied recent reports circulated on an Iranian website and in an American magazine that Barrack Obama's victory in the American election foretold the appearance of the Islamic redeemer, al-Mahdi. How about Batman? Is he really Batman?
According to the text that is the foundation of modern Shiite Islam, a prophecy that a tall black man would rule the West portends the coming of the Islamic redeemer. "It is he! The one foretold in the legend!"
"I'll get my coat!"
Ali Ibn Abi-Talibthe prophet's cousin and son-in-law and the most revered figure in Shiite Islamprophesied that before the return of the Mahdi, the ultimate redeemer in Islam, a tall black man will rule the West and will carry a "clear sign" from the Third Imam, Hussein Ibn Ali, according to the report by Iranian-born, London-based journalist Amir Taheri. "The sign! He has given us the Sign!"
"What's it say?"
"I dunno. What's 'Mene mene tekel upharsin' mean?"
Forbes magazine published a story about the Iranian pro-government website that published a hadith (saying or tradition) from the 17th century Shiite text Bahar al-Anvar (Sea of Light) setting off a string of rumors about the prophecy's connection to Obama.
The link between this black man and the American presidential candidate started with his name. In Arabic and Persian, "Barrack Obama" means "the blessing of al-Hussein." When written in Persian alphabet, the word "O Ba Ma" means "he is with us." In Vietnamese it means "at three horses," but that doesn't make much more sense than "he is with us." I dunno what it means in Swahili, but I'm sure it's something really significant. Probably make your hair stand on end.
Other coincidences contributed to establishing the theological link, including the view of the Iranian government that an Obama victory would signify the decline of the West and the triumph of Islam. Obama's relative lenience in pledging unconditional talks with Iran is also seen as a sign of American weakness. Well, it appears all fairy tales contain a grain of truth...
The Mahdi (Arabic for "the guided one"), is supposed to return before Judgment Day to eliminate injustice and tyranny. The appearance of the Mahdi is not mentioned in the Quran or the Sunnah (Prophet's teachings), and many Sunni scholars view it as a Shiite invention.
The Mahdi figure is an essential part in the Shiite doctrine. For Shiites, Mahdi is believed to be the Twelfth Imam, a descendant of the prophet who went into hiding, but will return one day return to restore justice to the world. If he has any sense he'll stay hidden a while longer ...
Prominent Shiite scholar Mohamed Hassan al-Amin, however, denied the rumors and said that not everything mentioned in the renowned book is necessarily true, particularly prophecies. "All texts related to the future are sheer guess work. If God had wanted to reveal the future of the world, he would not have created human beings with the ability to make the future themselves," Amin told AlArabiya.net.
Amin said he doubted that Ali Ibn Abi-Talib actually uttered this prophecy and added that there are even stranger sayings in the 132-volume work by Shiite scholar Mullah Majlisi. "And it shall come to pass that a woman with a bosom of wondrous proportions shall rally the faithful with the single cry 'Milk! Milk!'"
When asked about the real signs of the appearance of al-Mahdi, Amin said it is hard to consider any signs as real ones since they are related to the future.
Posted by: Fred ||
11/06/2008 00:00 ||
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#1
Its a sign from allan, he's going to raise your taxes and the prophecy will be realized!
#2
"All texts related to the future are sheer guess work. If God had wanted to reveal the future of the world, he would not have created human beings with the ability to make the future themselves," Amin told AlArabiya.net.
#4
By MUSLIM/ISLAMIC TRADITION, a true sign of the Mahdi's appearance would be the de facto battlefield defeat or destruction of the infidels = unbelievers [armies], AT THE HAND OF SAME AT THE HEAD OF A MUSLIM ARMY IN WAR. This tradition which is also supported by several NOSTRADAMUS QUATRAINS AS PER ISLAM.
UNLESS "BIG O" = GO FORTH YE IN THE NAME OF GOD DECIDES AS POTUS TO OVERTLY/FORMALLY LEAD A MUSLIM ARMY IN BATTLE AGZ HIS OWN COUNTRY AND ARMED FORCES, HE TAINT THE MAHDI.
THERE ARE GOOD MULTI-DIEMSNIONAL REASONS WHY SO-CALLED "DECISIVE/DIVINE BATTLES" AND CAMPAIGNS ARE TERMED OR LABELED AS SUCH.
NICE TRY, BUT SORRY NO GUAM IMPANADA FROM CHOTDE'S STORE!?
The stock market posted its biggest plunge following a presidential election as reports on jobs and service industries stoked concern the economy will worsen even as President-elect Barack Obama tries to stimulate growth. Tsk, tsk, tsk
#2
I guess the campaign slogan of punishing those who create wealth and rewarding those who do not is now having the first effects. Cause>Effect (let's see if there is intelligent life beyond the dialectic)
#3
Most everything Obama wants to do will worsen a weakened economy. It's high time he started going back on some of his campaign promises.
Posted by: Richard of Oregon ||
11/06/2008 10:11 Comments ||
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#4
In percentage term it was within the normal trading range of the past month. My perception is that the election results were already pretty well discounted by the market. In fact, I think the connection between the economic collapse and the inevitable-ness of the Obama victory was strong, and much of the stock market fall was the 'discounting' of a pending Obama win rather than the nominal economic drivers.
My wife posed the question "What actually triggered the economic collapse, or was it a 'who'?" It was a can everyone had been kicking down the road for a generation; what 'pin' actually popped the bubble? Could it possibly have been intentional? (Not entirely far-fetched - look at some public statements by Schumer et al.)
#8
I posed the question of it being intentionally manufactured when it was at its peak and was manhandled for it here by various 'free market' torpedoes. So I never got a real answer to my question. But the 'crisis' did seem to hit its crescendo while congress was debating the bailout and precisely when the first try failed to achieve the vote it needed. Is it possible to crash the market on purpose, for the traders, and did they do it to get their hands on the money. It could not have been a orchestrated effort, that could never be kept a secret, but rather a collective intelligence of sorts.
#9
Despite a mediocre leader the Spanish right was cruising to an easy victory when the Madid bombings happenned. Then tehre was an incredible MSM campaign to put the dead at the feet of the government. Those MSM owed favours to the socialists and BTW wrere rewarded after the election. There were also a series of lead poppping of thin air, followed by arrests of people told to be Isklamists (most if them were later cleared and there are serious doubts about those who weren't). The officers in charge of the investigation were close to the socialista nad have been rewarded after that. All of this allowed Zapatero to turn the tables and win.
Despite a mediocre leader the American right was cruising to an easy victory thanks to the Palin effect. Obama was against the ropes. And then Fannie Mae bankrupted and made the bankin system implode. Fannie Mae was in democratic hands and it was democrta who decided when, that is in september, not say, November 5th, Fannie Mae had to celare itself insolvent.
John McCain himself deserves some blame for political stupidity in this. He suspended his campaign in late Sept and flew to DC to support a modified Paulson Plan that he himself didn't understand. When the plan went down in the House, it was obvious his efforts were useless and he also looked grumpy and foolish in press conferences. Then the modified, modified Paulson Plan came out and McCain supported that one and then started denouncing aspects of it. He also suggested firing Chris Cox and replacing him with Andrew Cuoumo which was a projectile vomit inducing comment.
#11
I didn't say that MCCain wasn't foolish (he was ridculous in his wltzing over skipping the debate then going to it was) just as Aznar was caught on the back foot when the police told him there were leads pointing to islamists several hours after the pro-socialist MSM had been airing them.
I just point the similarities between the Madrid bombings and that oh so opprtune (for Obama) Fanny Mae bankruptcy.
#13
The economic crisis is a real one, and politicians and economists are connected to it by their cluelessness. The stock market will fluctuate as it always does, no matter what else happens. "Biggest plunge following a presidential election" is just white noise. Haven't you noticed financial reporters always trot out some reason for every daily fluctuation of the stock market and apply some hype in every report? I think reporters have macros in their word processors to accomplish that task without thinking much.
One hallmark of a declining market is huge swings up & down -- which is what has been happening for months now. A gradually advancing market is noted for absence of huge swings in either direction. Stocks will get much worse before they get better.
#15
My wife posed the question "What actually triggered the economic collapse, or was it a 'who'?" It was a can everyone had been kicking down the road for a generation; what 'pin' actually popped the bubble? Could it possibly have been intentional? (Not entirely far-fetched - look at some public statements by Schumer et al.)
Glenmore, remember all those statements by people here at the Burg in September that you should go get your hard cash out of the bank _right now_ before the bank run happens?
#17
CNN "ISSUES" wid JANE VELEX-MITCHELL > PRO-DEM GUEST PERT PANEL > In sum, the OBAMA VICTORY has vindicated nearly every DEMOLEFT AGENDA ANDOR CRITICISM SINCE KENNEDY + VIETNAM.
Perhaps more importantly, despite being pro-DEMOLEF = OBAMA, Jane's guests "talking points" were essens GOP-RIGHTIST! IMO, GOES TO SHOW OR PROVE [AGAIN] THAT POST-COLD WAR + POST-REAGAN/BUSH1 + POST 9-11 > LEFTISM IS THE NEW RIGHTISM, LEFTLIBERALISM IS THE NEW CONSERVATISM, GOVTISM THE NEW LIBERTARIANISM, SOCILAISM THE NEW CAPITALISM, ..........@etc.
D *** NG IT, MORIARITY, BEFORE RUSSIAN-BELABELED
"COMMUNIST CAPITALISM/COMMPITALISM", THERE WAS THAT GUY FROM GUAM'S "FREE MARKET STALINISM/
CENTRALISM/COMMUNISM/TOTALITARIANSM"!
#19
ION FOXNEWS AM > NEIL CAVUTO = seems the "BIG THREE" US AUTOMAKERS [Ford, Chrysler, GM] are asking a smiling, post-Obama Victory Nancy Pelosi and other bigwig Congresscritters for AN ADDITIONAL US$20-25BILYUHN IN USGOVT $$$ FUNDING SEPARATE AND ON TOP OF THE SIMILAR AMOUNT ALREADY RECEIVED OR ALLOCATED FROM THE BAILOUT.
Also, IIUC CAVUTO segment reported on the POST-ELECTION INCREASE IN LOCAL TAX RATES AS PER MANY US STATES, ostensibly due in part to the inability of States to MAKE UP FOR SERIOUS STATE BUDGET SHORTFALLS VEE TAXING ONLY THE UPPER + WEALTHY CLASSES.
* JUDGE NAPOLITANO > described the US GOVT'S NEW ROLE = LEGAL INFLUENCE AS PARTIASL SHARE OWNERS IN MAJOR CORPORATIONS [Formal Govt-Public Support + Subsidation of Private Companies],
THINK ADOLF HITLER + PRE-1939/WW2 NAZI CONTROL-INTEREST IN MAJOR GERMAN COMPANIES E.G. JUNKERS.
#23
remember all those statements by people here at the Burg in September that you should go get your hard cash out of the bank _right now_ before the bank run happens? No, I don't remember all those statements. Maybe there was one. There were a few statements advising taking several days supply of cash out, not a bad idea as a general policy. I cashed out all my stock investments in August 2007 and am thousands of dollars better off for it.
Credit card companies were shut out of the market for bonds backed by customer payments in October for the first time in more than 15 years, as investors shunned the debt amid the global credit freeze.
U.S. credit-card lenders may report record high customer defaults in 2009, Fitch Rating said in a Nov. 3 statement.
American Express was forced to set aside $1.4 billion for loan losses, according to an Oct. 30 statement.
American Express has lost 47 percent of its market value this year on concern that higher funding costs and rising defaults will hurt profit.
#1
They can't just take their earning from exorbitant interest rates and be happy can they?
They have to securitize the unsecured loans and dick around with the overblown credit default swap fiasco that is unraveling underneath them. They are doing it to themselves, and we will be strong armed into another huge bailout to 'save' the credit card companies who have given cards to every deadbeat that can fill out a form.
#2
Yup, they could borrow money from the Feds at 4%, lend it at 12 to 15%, charge the merchants another 2%, keep the defaulters at under 1%, and cry because they weren't making money.
Posted by: Steve White ||
11/06/2008 0:33 Comments ||
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#3
Steve, for a lot of merchants, it's significantly higher than 2%. That charge is regressive dependent on volume, the less the volume, the greater the charge.
Posted by: no mo uro ||
11/06/2008 8:09 Comments ||
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#4
12 to 15% is kinda low, Dr Steve. There's tons of people paying more than 18%, and they're not all deadbeats.
#5
Snicker, so it's even worse than I thought and they STILL can't make money!
Posted by: Steve White ||
11/06/2008 8:31 Comments ||
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#6
I've recently become a sort-of deadbeat, have bad interest rates, and have seriously thought about saying "hey, dudes, you got your bailout, you've got your shiny new president who voted for the bailout, stick your collection up your ass, I'm going to bankruptcy court."
And I've be tempted to say the same thing if McCain wins.
#8
Three points: While credit card companies make a lot of interest, they only do so by issuing enormous amounts of credit, which dwarfs their profits. The bonds underwrite this credit, and the yield on those bonds comes from their interest as well. If nobody will buy those bonds, they are out of business, and there are no more credit cards.
Already some of the credit card companies are canceling cards *not* based on their owners, but on the other owners in the same *class* as that owner. So if people somewhat like you, in the credit card companies opinion, are defaulting, they will cancel your card as well.
The third point is that a huge number of Americans are reliant on credit cards to pay their monthly bills. They have no substantial savings. If their credit cards gets canceled, they cannot pay rent or even buy food. If they have bank checking, so many of them will overdraft that banks will have to shut down checking accounts as well, or retailers will refuse bank checks.
This leaves only debit cards and cash as a way to make retail purchases.
#10
This leaves only debit cards and cash as a way to make retail purchases.
Hell, I've been doing that for years now, NO DEBT, NO CREDIT CARDS.(Thank God)
They 26%ted me away from doing business with them, I view it as a wholy self-caused problem. And TO HELL WITH THEM ALL.
Posted by: Redneck Jim ||
11/06/2008 10:30 Comments ||
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#11
I'm trying to remember the article I was reading, I think it was business week, but the Credit Default Swap market is bigger than the actual underlying loan market, much bigger. And when you combine that with the asset backed securities that they issue, its many times what the actual credit lines are worth. If I'm reading the numbers right and I think I am. But the point is, they are more concerned with he derivatives market than they are with their credit accounts.
#12
The third point is that a huge number of Americans are reliant on credit cards to pay their monthly bills. They have no substantial savings. If their credit cards gets canceled, they cannot pay rent or even buy food. If they have bank checking, so many of them will overdraft that banks will have to shut down checking accounts as well, or retailers will refuse bank checks.
In other words, there are a lot of satellite households with no reason for their independent existence. People need to double or triple up with family, friends or complete strangers in order to shore up their finances. The problem is that if this happens, rents will drop big time. Which will make home values drop even further, as rents become yet more attractive vs mortgage, property tax, HOA and insurance payments. My prediction is that efficiencies (studio apartments, in NYC lingo) and single bedroom apartments are about see big reductions in demand.
#13
I'm trying to remember the article I was reading, I think it was business week, but the Credit Default Swap market is bigger than the actual underlying loan market, much bigger.
Essentially, corporations were gambling, without having to put the potential liabilities on their balance sheets.
#14
This, by the way, is why a lot of banks are reluctant to lend - nobody knows what landmines are lying dormant. Nobody wants to get in line with the other creditors if there's a bankruptcy or liquidation. Remember - Lehman creditors got ten cents on the dollar.
#15
The consumer-driven economy of the US is under severe stress as consumers have cut back on their spending. A big drop in credit cards outstanding will damage that economy even further, resulting in businesses laying off even more workers and/or going out of existence. If Americans saved reasonable amounts for contingencies such as their retirements, and lived within their means, the economy would have turned out much different than it has.
#16
IIUC, CAVUTO ON FOX NEWS AM > was ranting about how these credit card companies have begun asking Congress to get Govt Regulators out of the way in order to ENGAGE IN MORE OF THE VERY SAME TYPES OF DUBIOUS SPECULATION AND MARKET OPERATIONS, ETC., AND BEYOND, THAT GOT THEM INTO TROUBLE TO BEGIN WITH.
IOW, THE ANSWER FOR CREDIT CARD "MARKET PAIN" IS MORE MARKET PAIN, OR WORSE???
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.
Venezuela's government has decided to put Las Cristinas gold mine, operated by Crystallex International Corp. under state control. "This mine will be recovered and will be operated under state administration,'' the Mining and Basic Industries Ministry said on Wednesday in a statement. 
ISLAMABAD The newly formed Public Accounts Committee (PAC), a key accountability panel of the National Assembly has, in its first meeting, decided to launch a probe against former president Pervez Musharraf on corruption charges and abuse of power in the grant of contracts in the communication ministry
A prominent Shiite scholar denied recent reports circulated on an Iranian website and in an American magazine that Barrack Obama's victory in the American election foretold the appearance of the Islamic redeemer, al-Mahdi.
