Books | Obama reads his children's book to 2nd graders | Seattle Times Newspaper: "ARLINGTON, Va. —
Usually, big-name authors plug their books on a nationwide book tour. President Barack Obama took a lower-key approach Friday, reading selections from his new children's book to a group of delighted second-graders in suburban Virginia.
In the library of Long Branch Elementary School, some four dozen youngsters giggled and squirmed as Obama gave voice to passages from 'Of Thee I Sing,' an illustrated volume in the form of a letter to his daughters describing the lives of 13 great Americans. It was written in 2008 but just came out this fall, with proceeds going to a scholarship fund for the children of fallen and disabled soldiers.
'I wanted to borrow you guys, and read to you,' Obama explained, sitting down on a wooden chair as the children sat cross-legged on the carpet.
He began with entries on Albert Einstein - 'he was one of the smartest men ever' - and Jackie Robinson - 'he was the first African-American to play in major league baseball' - before skipping to the end, and the entry on Abraham Lincoln.
'Everybody know who Abraham Lincoln is?' Obama asked, to a chorus of 'Yes!' from the youngsters. 'He helped to end slavery in the United States.'
Obama left behind a signed copy for the school library. 'You can read about all these other different people who are brave and imaginative and creative and smart, just like you guys are,' he said. 'I hope you enjoy it.'
Obama also read the Christmas poem ''Twas the Night Before Christmas' by Clement Moore, pausing so the kids could jump in at key points and making side comments on things like the couple of inches of snow Washington was dusted with Thursday. 'I'm surprised you guys are in school 'cause a lot of times in Washington people don't go to school when there's even an inch of snow,' he said.
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Life, Liberty, & the Pursuit of Happiness
Saturday, December 18, 2010
Airport Security: Loaded Gun Slips Past TSA Screeners - ABC News
Airport Security: Loaded Gun Slips Past TSA Screeners - ABC News: "Last fall, as he had done hundreds of times, Iranian-American businessman Farid Seif passed through security at a Houston airport and boarded an international flight.
He didn't realize he had forgotten to remove the loaded snub nose 'baby' Glock pistol from his computer bag. But TSA officers never noticed as his bag glided along the belt and was x-rayed. When he got to his hotel after the three-hour flight, he was shocked to discover the gun traveled unnoticed from Houston.
'It's just impossible to miss it, you know. I mean, this is not a small gun,' Seif told ABC News. 'How can you miss it? You cannot miss it.'
But the TSA did miss it, and despite what most people believe about the painstaking effort to screen airline passengers and their luggage before they enter the terminal, it was not that unusual.
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Life, Liberty, & the Pursuit of Happiness
He didn't realize he had forgotten to remove the loaded snub nose 'baby' Glock pistol from his computer bag. But TSA officers never noticed as his bag glided along the belt and was x-rayed. When he got to his hotel after the three-hour flight, he was shocked to discover the gun traveled unnoticed from Houston.
'It's just impossible to miss it, you know. I mean, this is not a small gun,' Seif told ABC News. 'How can you miss it? You cannot miss it.'
But the TSA did miss it, and despite what most people believe about the painstaking effort to screen airline passengers and their luggage before they enter the terminal, it was not that unusual.
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Life, Liberty, & the Pursuit of Happiness
Payrolls Drop in 28 U.S. States, Joblessness Rises in 21 in Labor Setback - Bloomberg
Payrolls Drop in 28 U.S. States, Joblessness Rises in 21 in Labor Setback - Bloomberg: "Payrolls decreased in 28 U.S. states and the unemployment rate climbed in 21, showing most parts of the world’s largest economy took part in the November labor- market setback.
North Carolina led the nation with 12,500 job cuts last month, followed by Massachusetts with 8,600 dismissals, and Ohio with 7,800, figures from the Labor Department showed today in Washington. Joblessness increased most in Georgia and Idaho, while workers in Nevada faced the highest rate in the country at 14.3 percent.
The report is consistent with figures on Dec. 3 that showed unemployment increased last month for the first time since August. The Federal Reserve’s pledge to buy an additional $600 billion of Treasuries by June and the $858 billion bill passed by Congress extending all Bush-era tax cuts for two years may help boost growth and cut unemployment.
The report shows “an uneven distribution of improvement with some disappointing results,” said Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit. “We’ve seen pretty clear evidence that demand is starting to improve and with the tax program that was passed last night it should further accelerate. That increased demand is going to pull forward further improvements in employment.”
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Life, Liberty, & the Pursuit of Happiness
North Carolina led the nation with 12,500 job cuts last month, followed by Massachusetts with 8,600 dismissals, and Ohio with 7,800, figures from the Labor Department showed today in Washington. Joblessness increased most in Georgia and Idaho, while workers in Nevada faced the highest rate in the country at 14.3 percent.
The report is consistent with figures on Dec. 3 that showed unemployment increased last month for the first time since August. The Federal Reserve’s pledge to buy an additional $600 billion of Treasuries by June and the $858 billion bill passed by Congress extending all Bush-era tax cuts for two years may help boost growth and cut unemployment.
The report shows “an uneven distribution of improvement with some disappointing results,” said Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit. “We’ve seen pretty clear evidence that demand is starting to improve and with the tax program that was passed last night it should further accelerate. That increased demand is going to pull forward further improvements in employment.”
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Life, Liberty, & the Pursuit of Happiness
Thursday, December 16, 2010
Special Report: Is America the sick man of the globe? - Yahoo! News
Special Report: Is America the sick man of the globe? - Yahoo! News: "- Sent using Google Toolbar"
This article should be recommended reading for every American who wonders about federal deficits and unemployment issues. The forecast is not very pretty.
I would really like to have your comments after reading the article.
Life, Liberty, & the Pursuit of Happiness
This article should be recommended reading for every American who wonders about federal deficits and unemployment issues. The forecast is not very pretty.
I would really like to have your comments after reading the article.
Life, Liberty, & the Pursuit of Happiness
Wednesday, December 15, 2010
Senate Dems unveil $1.1T spending bill - TheHill.com
Senate Dems unveil $1.1T spending bill - TheHill.com: "Senate Democrats have filed a $1.1 trillion omnibus spending bill that would fund the government through fiscal year 2011, according to Senate GOP sources.
The 1,924-page bill includes funding to implement the sweeping healthcare reform bill Congress passed earlier this year as well as additional funds for Internal Revenue Service agents, according to a senior GOP aide familiar with the legislation.
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Life, Liberty, & the Pursuit of Happiness
The 1,924-page bill includes funding to implement the sweeping healthcare reform bill Congress passed earlier this year as well as additional funds for Internal Revenue Service agents, according to a senior GOP aide familiar with the legislation.
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Life, Liberty, & the Pursuit of Happiness
Monday, December 13, 2010
Puppy Tweets
Puppy Tweets
Every once in a while, a special product comes along that you know will probably be popular, but you have no idea why. This year that product is Puppy Tweets, a $30 electronic dog tag that promises to answer the eternal question: "Ever wonder what your pet is doing while you're away?"
According to Mattel (MAT
) , the toy company behind Puppy Tweets, the electronic tag senses when your dog moves around or barks and uses this information to post select messages to Twitter under the dog's personal account. What kind of messages, you ask? Well, one of them is, "I bark because I miss you. There, I said it. Now hurry home."
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Adorable, but completely and utterly useless.
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Life, Liberty, & the Pursuit of Happiness
Saturday, December 11, 2010
US cable: Cuba to be insolvent within 2-3 years - Yahoo! News
US cable: Cuba to be insolvent within 2-3 years - Yahoo! News: "HAVANA – A newly released confidential U.S. diplomatic cable predicted Cuba's economic situation could become 'fatal' within two to three years, and detailed concerns from other countries' diplomats — including China — that the communist-run country has been slow to adopt reforms.
The cable was written in February, months before Cuban President Raul Castro announced a major revamp of the island's economy, laying out plans to fire a half-million state workers and open up the island to expanded forms of private enterprise.
The cable, sent by the U.S. Interests Section in Havana, which Washington maintains instead of an embassy, was released Friday by WikiLeaks. It was apparently written by America's chief diplomat on the island, Jonathan Farrar.
There was no immediate reaction from the Cuban government, but the cable's release is not likely to help improve U.S.-Cuban relations already strained by the long detention of an American contractor on suspicion of spying — not to mention 50 years of Cold War animus.
It details a breakfast meeting held by the Interests Section's chief economic officer with diplomats from some of Cuba's main trading partners, including China, Spain, Canada, Brazil and Italy, as well as France and Japan, both of which are among the island's top creditors.
'All diplomats agreed that Cuba could survive this year without substantial policy changes, but the financial situation could become fatal within 2-3 years,' the cable said, adding that Italian diplomats cited sources within the Cuban government as predicting that the island 'would become insolvent as early as 2011.'
Even the Chinese diplomat expressed what the cable referred to as 'visible exasperation.' It said the Chinese were particularly annoyed by Cuba's insistence on retaining majority control of any joint venture.
'No matter whether a foreign business invests $10 million or $100 million, the GOC's (Government of Cuba's) investment will always add up to 51%,' the cable quoted the unidentified Chinese commercial counselor as saying.
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Life, Liberty, & the Pursuit of Happiness
The cable was written in February, months before Cuban President Raul Castro announced a major revamp of the island's economy, laying out plans to fire a half-million state workers and open up the island to expanded forms of private enterprise.
The cable, sent by the U.S. Interests Section in Havana, which Washington maintains instead of an embassy, was released Friday by WikiLeaks. It was apparently written by America's chief diplomat on the island, Jonathan Farrar.
There was no immediate reaction from the Cuban government, but the cable's release is not likely to help improve U.S.-Cuban relations already strained by the long detention of an American contractor on suspicion of spying — not to mention 50 years of Cold War animus.
It details a breakfast meeting held by the Interests Section's chief economic officer with diplomats from some of Cuba's main trading partners, including China, Spain, Canada, Brazil and Italy, as well as France and Japan, both of which are among the island's top creditors.
'All diplomats agreed that Cuba could survive this year without substantial policy changes, but the financial situation could become fatal within 2-3 years,' the cable said, adding that Italian diplomats cited sources within the Cuban government as predicting that the island 'would become insolvent as early as 2011.'
Even the Chinese diplomat expressed what the cable referred to as 'visible exasperation.' It said the Chinese were particularly annoyed by Cuba's insistence on retaining majority control of any joint venture.
'No matter whether a foreign business invests $10 million or $100 million, the GOC's (Government of Cuba's) investment will always add up to 51%,' the cable quoted the unidentified Chinese commercial counselor as saying.
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Life, Liberty, & the Pursuit of Happiness
Gas up $1 a gallon on Obama's watch - Washington Times
Gas up $1 a gallon on Obama's watch - Washington Times: "Gas prices have risen $1 since just after President Obama took office in January 2009 and are now closing in on the $3 mark, prompting an evaluation of the administration's energy record and calls for the White House to open more U.S. land for oil exploration.
The average price per gallon across the U.S. hit $2.81 this week, according to the Energy Information Administration. That was up from $1.81 the week of Jan. 26, 2009, just after the inauguration, and marks the highest price since Oct. 20, 2008.
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Life, Liberty, & the Pursuit of Happiness
The average price per gallon across the U.S. hit $2.81 this week, according to the Energy Information Administration. That was up from $1.81 the week of Jan. 26, 2009, just after the inauguration, and marks the highest price since Oct. 20, 2008.
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Life, Liberty, & the Pursuit of Happiness
U.S. Posts $150.4 Billion November Budget Deficit - WSJ.com
U.S. Posts $150.4 Billion November Budget Deficit - WSJ.com: "WASHINGTON—The U.S. government ran its 26th straight monthly budget deficit in November amid wrangling over a package that would extend big tax cuts to Americans trying to recover from recession.
The Treasury Department, in its regular budget monthly statement, said the government spent $150.4 billion than it collected in the second month of fiscal 2011.
Economists surveyed by Dow Jones Newswires had expected a shortfall of $126.5 billion. November is traditionally a month for deficits.
The Treasury report, detailing the government's spending programs, prompted an economic research firm, Macroeconomic Advisers, to lift its forecast for economic growth from October through December by four-tenths of a percentage point, to 2.7%.
Last month's red ink pushes up the deficit to $290.8 billion for the fiscal year, which began Oct. 1. That figure is a little smaller than the deficit during the same period last year. But President Barack Obama's administration expects the deficit to top $1 trillion in this fiscal year.
Washington has spent in excess of $1 trillion during each of the last two fiscal years, as revenues were reduced by the deep recession. At the same time, the economic slump and Wall Street bailout raised the government's expenses.
The November deficit marked the government's 26th shortfall in a row. As the deficit continues growing, Washington is in the midst of working out key tax legislation. The Senate unveiled final details of a broad tax bill—and its 10-year price tag of $858 billion—and began debate Thursday night on the package. Earlier in the week, Mr. Obama struck a deal with Republicans in Congress to extend for two years tax cuts enacted under former President George W. Bush.
The budget statement Friday said federal spending totaled $585.7 billion so far this fiscal year, with revenues at $294.9 billion. In the last two months, the federal government spent $128.3 billion on defense, $36.8 billion in interest payments on its debt, and $20.0 billion for unemployment benefits.
The U.S. budget deficit in fiscal 2010, at $1.294 trillion, was the second-highest ever, behind the record 2009 deficit of $1.416 trillion.
The administration last July said it was projecting a 2011 budget deficit of $1.416 trillion. But Michael Feroli, an analyst at J.P. Morgan Chase, said Friday he expects the budget gap to set a new record in fiscal 2011, reaching $1.5 trillion as the government pays for the extension of tax cuts.
The tax package prompted Mr. Feroli to raise his forecast of 2011 economic growth by half of a percentage point. This also came after the Fed, to spur the weak economy, announced a decision last month to buy $600 billion in U.S. Treasury notes.
'Because the added growth from the package should be concentrated in the first half of next year, we now believe the Fed will not seek to increase asset purchases beyond the currently scheduled $600 billion amount when it reviews the program next June,' he said in a research note.
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Life, Liberty, & the Pursuit of Happiness
The Treasury Department, in its regular budget monthly statement, said the government spent $150.4 billion than it collected in the second month of fiscal 2011.
Economists surveyed by Dow Jones Newswires had expected a shortfall of $126.5 billion. November is traditionally a month for deficits.
The Treasury report, detailing the government's spending programs, prompted an economic research firm, Macroeconomic Advisers, to lift its forecast for economic growth from October through December by four-tenths of a percentage point, to 2.7%.
Last month's red ink pushes up the deficit to $290.8 billion for the fiscal year, which began Oct. 1. That figure is a little smaller than the deficit during the same period last year. But President Barack Obama's administration expects the deficit to top $1 trillion in this fiscal year.
Washington has spent in excess of $1 trillion during each of the last two fiscal years, as revenues were reduced by the deep recession. At the same time, the economic slump and Wall Street bailout raised the government's expenses.
The November deficit marked the government's 26th shortfall in a row. As the deficit continues growing, Washington is in the midst of working out key tax legislation. The Senate unveiled final details of a broad tax bill—and its 10-year price tag of $858 billion—and began debate Thursday night on the package. Earlier in the week, Mr. Obama struck a deal with Republicans in Congress to extend for two years tax cuts enacted under former President George W. Bush.
The budget statement Friday said federal spending totaled $585.7 billion so far this fiscal year, with revenues at $294.9 billion. In the last two months, the federal government spent $128.3 billion on defense, $36.8 billion in interest payments on its debt, and $20.0 billion for unemployment benefits.
The U.S. budget deficit in fiscal 2010, at $1.294 trillion, was the second-highest ever, behind the record 2009 deficit of $1.416 trillion.
The administration last July said it was projecting a 2011 budget deficit of $1.416 trillion. But Michael Feroli, an analyst at J.P. Morgan Chase, said Friday he expects the budget gap to set a new record in fiscal 2011, reaching $1.5 trillion as the government pays for the extension of tax cuts.
The tax package prompted Mr. Feroli to raise his forecast of 2011 economic growth by half of a percentage point. This also came after the Fed, to spur the weak economy, announced a decision last month to buy $600 billion in U.S. Treasury notes.
'Because the added growth from the package should be concentrated in the first half of next year, we now believe the Fed will not seek to increase asset purchases beyond the currently scheduled $600 billion amount when it reviews the program next June,' he said in a research note.
- Sent using Google Toolbar"
Life, Liberty, & the Pursuit of Happiness
Friday, December 10, 2010
Democrats: What can you say?
Life, Liberty, & the Pursuit of Happiness
Obama honors Nobel winner with statement about himself | Washington Examiner
Obama honors Nobel winner with statement about himself | Washington Examiner: "There was an extraordinary scene at the awarding of the Nobel Peace Prize in Oslo Friday morning. The prize went to imprisoned Chinese dissident Liu Xiaobo, who was barred by the Chinese government from attending the ceremony. It was the first time since 1935 -- when the prize went to a winner imprisoned in one of Adolf Hitler's concentration camps -- that the Peace Prize winner did not appear personally to accept the award.
So on this notable occasion, the White House released a statement from President Obama on the awarding of the prize to Liu in absentia. And this is how Obama's statement began:
One year ago, I was humbled to receive the Nobel Peace Prize -- an award that speaks to our highest aspirations, and that has been claimed by giants of history and courageous advocates who have sacrificed for freedom and justice.
Critics have often said of Obama that 'it's all about him,' that he has a tendency to reference himself no matter what subject he is discussing. Could he do any more to prove them right? But just to show that he is, in fact, humble, the president followed his opening sentence with this:
Mr. Liu Xiaobo is far more deserving of this award than I was.
In the rest of his statement, Obama writes that 'We respect China's extraordinary accomplishment in lifting millions out of poverty, and believe that human rights include the dignity that comes with freedom from want.' But of course, Liu wasn't at the Nobel ceremony in Oslo because of the Chinese government, so Obama adds, 'Mr. Liu reminds us that human dignity also depends upon the advance of democracy, open society, and the rule of law. The values he espouses are universal, his struggle is peaceful, and he should be released as soon as possible.' And then, before closing, the president makes one more reference to himself:
I regret that Mr. Liu and his wife were denied the opportunity to attend the ceremony that Michelle and I attended last year.
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Life, Liberty, & the Pursuit of Happiness
So on this notable occasion, the White House released a statement from President Obama on the awarding of the prize to Liu in absentia. And this is how Obama's statement began:
One year ago, I was humbled to receive the Nobel Peace Prize -- an award that speaks to our highest aspirations, and that has been claimed by giants of history and courageous advocates who have sacrificed for freedom and justice.
Critics have often said of Obama that 'it's all about him,' that he has a tendency to reference himself no matter what subject he is discussing. Could he do any more to prove them right? But just to show that he is, in fact, humble, the president followed his opening sentence with this:
Mr. Liu Xiaobo is far more deserving of this award than I was.
In the rest of his statement, Obama writes that 'We respect China's extraordinary accomplishment in lifting millions out of poverty, and believe that human rights include the dignity that comes with freedom from want.' But of course, Liu wasn't at the Nobel ceremony in Oslo because of the Chinese government, so Obama adds, 'Mr. Liu reminds us that human dignity also depends upon the advance of democracy, open society, and the rule of law. The values he espouses are universal, his struggle is peaceful, and he should be released as soon as possible.' And then, before closing, the president makes one more reference to himself:
I regret that Mr. Liu and his wife were denied the opportunity to attend the ceremony that Michelle and I attended last year.
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Life, Liberty, & the Pursuit of Happiness
Monday, December 06, 2010
Frankenbombers are 'new kind of terrorism': Al Qaeda hopes to surgically implant bombs into thugs
Frankenbombers are 'new kind of terrorism': Al Qaeda hopes to surgically implant bombs into thugs: "WASHINGTON - Jihadis bent on concocting a 'new kind of terrorism' are brainstorming how to surgically implant explosives to make undetectable Frankenbombers.
'What is your opinion about surgeries through which I can implant the bomb ...inside the operative's body?' an apparent mad surgeon recently asked an online forum used by Al Qaeda affiliates.
He called on bombmakers and doctors to cook up the perfect solution to murder 'larger numbers of unbelievers and apostates.'
'I am waiting for the interaction of the experienced brothers to connect the two sciences together and produce a new kind of terrorism, Allah willing,' he wrote, according to a translation by terror experts at the SITE Intelligence Group.
The scheming comes amid controversy over body scanners and pat-downs in airports that some Americans complain are too invasive. The ideas for a 'surgically booby-trapped martyrdom seeker' were chillingly concise for the doctor of death monitored by SITE.
Stitching a bomb into the abdominal cavity made of plastic or liquid explosives - such as semtex or PETN - was judged the best method.
'It must be planted near the surface of the body, because the human body absorbs shocks,' advised one terrorist.
Prior to the attempted destruction of a Detroit-bound flight last Christmas by accused underwear bomber Farouk Abdulmutallab, Al Qaeda in the Arabian Peninsula almost assassinated a Saudi prince with a bomb believed to have been concealed inside a body cavity; it was recently clarified that it was the first attempt at an explosive hidden in undies.
Unproven body cavity bombs worry security agents, though 'no one has figured out how to actually do it,' said a counterterror official.
Last month, Transportation Security Administration chief John Pistole said his agency wouldn't do cavity checks because secondary screening procedures and technology can find fuses and detonators, which must be outside the body.
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Life, Liberty, & the Pursuit of Happiness
'What is your opinion about surgeries through which I can implant the bomb ...inside the operative's body?' an apparent mad surgeon recently asked an online forum used by Al Qaeda affiliates.
He called on bombmakers and doctors to cook up the perfect solution to murder 'larger numbers of unbelievers and apostates.'
'I am waiting for the interaction of the experienced brothers to connect the two sciences together and produce a new kind of terrorism, Allah willing,' he wrote, according to a translation by terror experts at the SITE Intelligence Group.
The scheming comes amid controversy over body scanners and pat-downs in airports that some Americans complain are too invasive. The ideas for a 'surgically booby-trapped martyrdom seeker' were chillingly concise for the doctor of death monitored by SITE.
Stitching a bomb into the abdominal cavity made of plastic or liquid explosives - such as semtex or PETN - was judged the best method.
'It must be planted near the surface of the body, because the human body absorbs shocks,' advised one terrorist.
Prior to the attempted destruction of a Detroit-bound flight last Christmas by accused underwear bomber Farouk Abdulmutallab, Al Qaeda in the Arabian Peninsula almost assassinated a Saudi prince with a bomb believed to have been concealed inside a body cavity; it was recently clarified that it was the first attempt at an explosive hidden in undies.
Unproven body cavity bombs worry security agents, though 'no one has figured out how to actually do it,' said a counterterror official.
Last month, Transportation Security Administration chief John Pistole said his agency wouldn't do cavity checks because secondary screening procedures and technology can find fuses and detonators, which must be outside the body.
- Sent using Google Toolbar"
Life, Liberty, & the Pursuit of Happiness
U.S. Regulators Propose Requiring Backup Cameras in All New Cars by 2014 - Bloomberg
U.S. Regulators Propose Requiring Backup Cameras in All New Cars by 2014 - Bloomberg: "U.S. auto-safety regulators proposed requiring backup cameras on all new vehicles by 2014 to prevent drivers from backing over pedestrians, a rule that may cost as much as $2.7 billion.
The National Highway Traffic Safety Administration, which published the proposed rule today, said an average of 292 people die each year from back-over accidents, which primarily kill children and the elderly. To equip a new-vehicle fleet of 16.6 million produced in a year would cost from $1.9 billion to $2.7 billion, the agency said in the proposal, calling the cost “substantial” and saying it might reduce back-over deaths and injuries by almost half.
“There is no more tragic accident than for a parent or caregiver to back out of a garage or driveway and kill or injure an undetected child playing behind the vehicle,” Transportation Secretary Ray LaHood said in a statement. “The changes we are proposing today will help drivers see into those blind zones directly behind vehicles to make sure it is safe to back up.”
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Life, Liberty, & the Pursuit of Happiness
The National Highway Traffic Safety Administration, which published the proposed rule today, said an average of 292 people die each year from back-over accidents, which primarily kill children and the elderly. To equip a new-vehicle fleet of 16.6 million produced in a year would cost from $1.9 billion to $2.7 billion, the agency said in the proposal, calling the cost “substantial” and saying it might reduce back-over deaths and injuries by almost half.
“There is no more tragic accident than for a parent or caregiver to back out of a garage or driveway and kill or injure an undetected child playing behind the vehicle,” Transportation Secretary Ray LaHood said in a statement. “The changes we are proposing today will help drivers see into those blind zones directly behind vehicles to make sure it is safe to back up.”
- Sent using Google Toolbar"
Life, Liberty, & the Pursuit of Happiness
Obama Made ‘Big Mistake’ on Climate Bill, Turner Says - Bloomberg
Obama Made ‘Big Mistake’ on Climate Bill, Turner Says - Bloomberg: "U.S. President Barack Obama made a “big mistake” in pushing health-care legislation before climate change, billionaire Ted Turner said today.
“We would have an energy climate change bill in the United States if President Obama had made that his top priority and brought that to the American people and Congress first rather than the health-care bill,” Turner, founder of Time Warner Inc.’s CNN, said today at a conference in Cancun, Mexico. “But he didn’t, and I think it was a big mistake.”
Obama, who campaigned on a promise to fight climate change, made the economy, health care, energy and education his top priorities after taking office. Health-care legislation was signed into law earlier this year after contentious debate while a “cap-and-trade” bill to reduce greenhouse-gas emissions stalled in the Senate. Obama now says he doubts such a measure can win passage until 2013 at the earliest.
“The climate bill is much more important than health care because the climate situation is about life and death whereas the health-care bill was much more limited,” Turner, 72, said.
A bill creating a cap-and-trade program to reduce emissions and establish a market in pollution allowances passed the House of Representatives last year. The Senate dropped the measure earlier this year amid claims that an emissions-trading system would boost energy prices and hurt the economy.
Skepticism Rises
U.S. skepticism about whether humans are causing climate change has increased, polls show. Congressional elections in November will bring into office in January almost four dozen new lawmakers who question global warming, according to ThinkProgress, an arm of the Center for American Progress Action Fund, a Washington research group allied with Democrats.
Turner, who also spoke in Cancun yesterday, said more needs to be done to raise public awareness of the threat.
“We have to convince the majority of people in the world that we are right and get them motivated,” he said. “That’s a big job, but hopefully we can do it.”
Turned noted humans only began burning the fossil fuels linked to climate change about 200 years ago. “Now we are being asked to completely change our energy system in a quick period of time,” he said. “It’s hard for us. It’s something we really have to do if we want to survive.”
Climate Summit
Turner spoke this weekend at the World Climate Summit, a conference focused on how businesses can help combat climate change. The gathering is timed to coincide with United Nations- led climate change treaty talks in Cancun.
Negotiators from about 190 countries are debating the 1997 Kyoto Protocol and terms for a new accord that includes all major polluters. The U.S., the second-biggest greenhouse-gas emitter after China, is the only industrialized nation not bound by the Kyoto treaty.
Japan, Russia and Canada have refused to sign up for a second round of emissions reductions once the current ones written into Kyoto expire in 2012.
Emerging economies, such as China, India and Brazil, are pushing for the developed countries to agree on a new commitment period. Discord over Kyoto threatens to take attention away from talks for a new global climate agreement that includes the U.S., UN climate chief Christiana Figueres said yesterday.
The Obama administration is limited in what it can commit to in the talks because the U.S. doesn’t have a national law capping emissions by a certain percentage. Obama’s lead climate negotiator, Todd Stern, says the U.S. will stick to its pledge of cutting greenhouse gases about 17 percent by 2020.
The U.S. Environmental Protection Agency plans to start regulating carbon from power plants and oil refiners starting in January.
To contact the reporter on this story: Kim Chipman in Washington at kchipman@bloomberg.net
To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net.
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Life, Liberty, & the Pursuit of Happiness
“We would have an energy climate change bill in the United States if President Obama had made that his top priority and brought that to the American people and Congress first rather than the health-care bill,” Turner, founder of Time Warner Inc.’s CNN, said today at a conference in Cancun, Mexico. “But he didn’t, and I think it was a big mistake.”
Obama, who campaigned on a promise to fight climate change, made the economy, health care, energy and education his top priorities after taking office. Health-care legislation was signed into law earlier this year after contentious debate while a “cap-and-trade” bill to reduce greenhouse-gas emissions stalled in the Senate. Obama now says he doubts such a measure can win passage until 2013 at the earliest.
“The climate bill is much more important than health care because the climate situation is about life and death whereas the health-care bill was much more limited,” Turner, 72, said.
A bill creating a cap-and-trade program to reduce emissions and establish a market in pollution allowances passed the House of Representatives last year. The Senate dropped the measure earlier this year amid claims that an emissions-trading system would boost energy prices and hurt the economy.
Skepticism Rises
U.S. skepticism about whether humans are causing climate change has increased, polls show. Congressional elections in November will bring into office in January almost four dozen new lawmakers who question global warming, according to ThinkProgress, an arm of the Center for American Progress Action Fund, a Washington research group allied with Democrats.
Turner, who also spoke in Cancun yesterday, said more needs to be done to raise public awareness of the threat.
“We have to convince the majority of people in the world that we are right and get them motivated,” he said. “That’s a big job, but hopefully we can do it.”
Turned noted humans only began burning the fossil fuels linked to climate change about 200 years ago. “Now we are being asked to completely change our energy system in a quick period of time,” he said. “It’s hard for us. It’s something we really have to do if we want to survive.”
Climate Summit
Turner spoke this weekend at the World Climate Summit, a conference focused on how businesses can help combat climate change. The gathering is timed to coincide with United Nations- led climate change treaty talks in Cancun.
Negotiators from about 190 countries are debating the 1997 Kyoto Protocol and terms for a new accord that includes all major polluters. The U.S., the second-biggest greenhouse-gas emitter after China, is the only industrialized nation not bound by the Kyoto treaty.
Japan, Russia and Canada have refused to sign up for a second round of emissions reductions once the current ones written into Kyoto expire in 2012.
Emerging economies, such as China, India and Brazil, are pushing for the developed countries to agree on a new commitment period. Discord over Kyoto threatens to take attention away from talks for a new global climate agreement that includes the U.S., UN climate chief Christiana Figueres said yesterday.
The Obama administration is limited in what it can commit to in the talks because the U.S. doesn’t have a national law capping emissions by a certain percentage. Obama’s lead climate negotiator, Todd Stern, says the U.S. will stick to its pledge of cutting greenhouse gases about 17 percent by 2020.
The U.S. Environmental Protection Agency plans to start regulating carbon from power plants and oil refiners starting in January.
To contact the reporter on this story: Kim Chipman in Washington at kchipman@bloomberg.net
To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net.
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Hydrogen Powered Cars: Impractical Because Of Hydrogen's Cost To Produce, Low Energy Density | Markets | Minyanville.com
Hydrogen Powered Cars: Impractical Because Of Hydrogen's Cost To Produce, Low Energy Density | Markets | Minyanville.com: "[In May 2009], the Department of Energy (DOE) finally conceded that hydrogen won't be a part of the near-term solution to global warming, the peak oil crisis, or anything else you can think of. They're cutting back funding dramatically on hydrogen research. This is a triumph of physics over policy. In the long run, physics will always win, but we have way too many policy wonks in Washington without a clue about how the physical world works.
Even if hydrogen could be produced cheaply, it has another problem that makes it impractical as a fuel for transportation. Even when highly compressed, the energy density per liter or gallon is very low compared to gasoline or diesel fuel. Think about the size of the fuel tanks on the trucks that deliver gasoline to a station compared to the size of the tank on the truck. The ratio is about 90 to 1. That’s an efficient delivery system. If a hydrogen delivery truck had to burn hydrogen, the size of the fuel tank for the engine would be about one-quarter of the size of the delivery tank!
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Life, Liberty, & the Pursuit of Happiness
Even if hydrogen could be produced cheaply, it has another problem that makes it impractical as a fuel for transportation. Even when highly compressed, the energy density per liter or gallon is very low compared to gasoline or diesel fuel. Think about the size of the fuel tanks on the trucks that deliver gasoline to a station compared to the size of the tank on the truck. The ratio is about 90 to 1. That’s an efficient delivery system. If a hydrogen delivery truck had to burn hydrogen, the size of the fuel tank for the engine would be about one-quarter of the size of the delivery tank!
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Life, Liberty, & the Pursuit of Happiness
What Obama Needs to Make a Comeback: Nothing Short of Luck - TIME
What Obama Needs to Make a Comeback: Nothing Short of Luck - TIME: "A survey of the political landscape shows that many groups who were part of the 2008-09 Obama coalition have turned on him. Liberals believe he is an overcompromising wimp. (See blistering recent columns by progressive icons Paul Krugman and Frank Rich of the New York Times for a taste of what the left thinks of 'their' President now.) The business community considers Obama ignorant about markets at best, a socialist at worst (O.K., some business people entertain an even harsher assessment). The media, after aiding and abetting his ride to the White House, now see the President as incompetent and overwhelmed. The independents and Republicans who backed him for office currently feel he is too liberal and too weak to do the job. These trends are all worse in Washington and among opinion leaders than they are in the country at large, but the views of elites are clearly shaping how the President is perceived by the nation in general. (See 'Judging Obama's First Year, Issue by Issue.')
With unemployment high and promising to stay there, it is nearly impossible in the short term for Obama to shift opinion and be seen as a successful President. But he can't achieve anything in 2011 and 2012, or get re-elected, unless he can win back support from some of his core groups.
The already tiresome debate about what Obama should do to launch a comeback tells only part of the story. Yes, he needs to show people what he stands for, fight for what he believes, compromise with Republicans when it's sensible, reshape his circle of advisers and focus on job growth and deficit reduction. But those are all tall orders, and they run counter to Obama's instincts, the political realities of American politics for the last generation, or both.
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Life, Liberty, & the Pursuit of Happiness
With unemployment high and promising to stay there, it is nearly impossible in the short term for Obama to shift opinion and be seen as a successful President. But he can't achieve anything in 2011 and 2012, or get re-elected, unless he can win back support from some of his core groups.
The already tiresome debate about what Obama should do to launch a comeback tells only part of the story. Yes, he needs to show people what he stands for, fight for what he believes, compromise with Republicans when it's sensible, reshape his circle of advisers and focus on job growth and deficit reduction. But those are all tall orders, and they run counter to Obama's instincts, the political realities of American politics for the last generation, or both.
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Life, Liberty, & the Pursuit of Happiness
Sunday, December 05, 2010
Gingrich: Leaks show Obama administration 'shallow,' 'amateurish' - The Hill's Blog Briefing Room
Gingrich: Leaks show Obama administration 'shallow,' 'amateurish' - The Hill's Blog Briefing Room: "Former House Speaker Newt Gingrich said Sunday that President Obama and the White House deserve a large share of the blame for the massive amounts of classified information revealed through WikiLeaks.
Gingrich said the leaks are 'a scandal of the first order' and that they demonstrate the Obama administration is 'shallow' and 'amateurish' when it comes to national security.
'You have a private first class who downloads a quarter million documents, and the system doesn't say, 'Oh, you may be over extended?' I mean, this is a system so stupid that it ought to be a scandal of the first order,' Gingrich said. 'This administration is so shallow and so amateurish about national security that it is painful and dangerous.'
He also said the U.S needs to act fast in shutting down WikiLeaks and finding Julian Assange.
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Life, Liberty, & the Pursuit of Happiness
Gingrich said the leaks are 'a scandal of the first order' and that they demonstrate the Obama administration is 'shallow' and 'amateurish' when it comes to national security.
'You have a private first class who downloads a quarter million documents, and the system doesn't say, 'Oh, you may be over extended?' I mean, this is a system so stupid that it ought to be a scandal of the first order,' Gingrich said. 'This administration is so shallow and so amateurish about national security that it is painful and dangerous.'
He also said the U.S needs to act fast in shutting down WikiLeaks and finding Julian Assange.
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Life, Liberty, & the Pursuit of Happiness
Don’t Look, Don’t Read - Government Warns Its Workers Away From WikiLeaks Documents - NYTimes.com
Don’t Look, Don’t Read - Government Warns Its Workers Away From WikiLeaks Documents - NYTimes.com: "WASHINGTON — In a classic case of shutting the barn door after the horse has left, the Obama administration and the Department of Defense have ordered the hundreds of thousands of federal employees and contractors not to view the secret cables and other classified documents published by Wikileaks and news organizations around the world unless the workers have the required security clearance or authorization.
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Life, Liberty, & the Pursuit of Happiness
Ford, BMW, Toyota Took Secret Government Money
Ford, BMW, Toyota Took Secret Government Money: "In the depths of the financial collapse, the U.S. Federal Reserve pumped $3.3 trillion into keeping credit moving through the economy. It eventually lent $57.9 billion to the auto industry — including $26.8 billion to Ford, Toyota and BMW.
The Fed on Wednesday was forced to reveal the identity of the companies it aided during the crisis, after contending to Congress that keeping their identities and the details of such lending secret was essential. Much of Wall Street, and corporate giants such as General Electric, Harley Davidson and McDonald's, took advantage of the Fed's help. We've done the math on how the Fed propped up the auto industry.
While Chrysler and General Motors had to go to Congress to beg for cash in 2008, every other automaker's finance arm was having trouble as well. Typically, once they lend money to a buyer, they sell the loan, get the cash upfront, then pump the proceeds back into the business. They also take out short-term loans called commercial paper that keeps the day-to-day business afloat. The crash cut the circuit, raising the chances the automakers couldn't make loans to buyers and keep selling new vehicles.
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Life, Liberty, & the Pursuit of Happiness
The Fed on Wednesday was forced to reveal the identity of the companies it aided during the crisis, after contending to Congress that keeping their identities and the details of such lending secret was essential. Much of Wall Street, and corporate giants such as General Electric, Harley Davidson and McDonald's, took advantage of the Fed's help. We've done the math on how the Fed propped up the auto industry.
While Chrysler and General Motors had to go to Congress to beg for cash in 2008, every other automaker's finance arm was having trouble as well. Typically, once they lend money to a buyer, they sell the loan, get the cash upfront, then pump the proceeds back into the business. They also take out short-term loans called commercial paper that keeps the day-to-day business afloat. The crash cut the circuit, raising the chances the automakers couldn't make loans to buyers and keep selling new vehicles.
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Life, Liberty, & the Pursuit of Happiness
WikiLeaks cables reveal how US manipulated climate accord | Environment | The Guardian
WikiLeaks cables reveal how US manipulated climate accord | Environment | The Guardian: "Hidden behind the save-the-world rhetoric of the global climate change negotiations lies the mucky realpolitik: money and threats buy political support; spying and cyberwarfare are used to seek out leverage.
The US diplomatic cables reveal how the US seeks dirt on nations opposed to its approach to tackling global warming; how financial and other aid is used by countries to gain political backing; how distrust, broken promises and creative accounting dog negotiations; and how the US mounted a secret global diplomatic offensive to overwhelm opposition to the controversial 'Copenhagen accord', the unofficial document that emerged from the ruins of the Copenhagen climate change summit in 2009.
Negotiating a climate treaty is a high-stakes game, not just because of the danger warming poses to civilisation but also because re-engineering the global economy to a low-carbon model will see the flow of billions of dollars redirected.
Seeking negotiating chips, the US state department sent a secret cable on 31 July 2009 seeking human intelligence from UN diplomats across a range of issues, including climate change. The request originated with the CIA. As well as countries' negotiating positions for Copenhagen, diplomats were asked to provide evidence of UN environmental 'treaty circumvention' and deals between nations.
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Life, Liberty, & the Pursuit of Happiness
The US diplomatic cables reveal how the US seeks dirt on nations opposed to its approach to tackling global warming; how financial and other aid is used by countries to gain political backing; how distrust, broken promises and creative accounting dog negotiations; and how the US mounted a secret global diplomatic offensive to overwhelm opposition to the controversial 'Copenhagen accord', the unofficial document that emerged from the ruins of the Copenhagen climate change summit in 2009.
Negotiating a climate treaty is a high-stakes game, not just because of the danger warming poses to civilisation but also because re-engineering the global economy to a low-carbon model will see the flow of billions of dollars redirected.
Seeking negotiating chips, the US state department sent a secret cable on 31 July 2009 seeking human intelligence from UN diplomats across a range of issues, including climate change. The request originated with the CIA. As well as countries' negotiating positions for Copenhagen, diplomats were asked to provide evidence of UN environmental 'treaty circumvention' and deals between nations.
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Life, Liberty, & the Pursuit of Happiness
In Pakistan, Christianity Earns a Death Sentence - Yahoo! News
In Pakistan, Christianity Earns a Death Sentence - Yahoo! News: "By OMAR WARAICH / ISLAMABAD Omar Waraich / Islamabad – Sun Dec 5, 9:40 am ET
It all began a year and a half ago, with a quarrel over a bowl of water. A group of women farm workers were suffering in the heat near a village in Pakistan's Punjab province. Aasia Noreen, an illiterate 45-year-old mother of five, offered them water, but was rebuffed. Noreen was a Christian, they said, and therefore her water was unclean - sadly, a common taunt hurled at Pakistan's beleaguered Christians. But rather than swallowing the indignity, she mounted a stout defense of her faith.
Word of the exchange swiftly filtered through the village of Ittan Wali, in Sheikhupura district. The local mullah took to his mosque's loudspeakers, exhorting his followers to take action against Noreen. In a depressingly familiar pattern, her defense of her faith was twisted into an accusation of blasphemy, according to her family and legal observers familiar with the case. As a frenzied mob pursued her, the police intervened, taking her into custody. But far from protecting her, they arrested and charged Noreen with insulting Islam and its prophet. And on Nov. 8, after enduring 18 months in prison, she was sentenced to death by a district court, making her the first woman to suffer that fate. (See how WikiLeaks' disclosure fueled anti-U.S. anger in Pakistan.)
In the ensuing weeks, the case of Noreen, popularly known as Aasia Bibi, has sparked a national furor. Human rights campaigners and lawyers have denounced the sentence. Religious fundamentalist groups, usually at odds with one another, have suddenly coalesced around a campaign to defend the blasphemy law and attack its critics. One politician who called for Noreen to be pardoned now faces a fatwa for alleged apostasy. Another politician, who is trying to have the blasphemy laws amended, has been warned that she will be besieged. On television, religious scholars have disagreed among themselves over the law's merits. Divisions are also being seen within the government, with powerful figures taking opposing sides. And there has even been global outrage, with Pope Benedict XVI last week calling for Noreen's freedom.
Noreen's case has spurred the first genuine debate over some of Pakistans most controversial laws. The original blasphemy law was drawn up by the British, in the Indian Penal Code of 1860, aimed at keeping the peace among the subcontinent's sometimes fractious diversity of faiths. Not only did Pakistan inherit the laws after partition, but it added to them. In the 1980s, General Muhammad Zia-ul-Haq's military dictatorship introduced a slew of elastically worded clauses, including a death sentence for those deemed to have defiled the sacred name of the Prophet.
Before Zia, there were only two reported cases of blasphemy. Since the death sentence was inserted in 1986, the number has soared to 962 - including 340 members of the Ahmadi Muslim sect, 119 Christians, and 14 Hindus. Close examination of the cases reveals the laws often being invoked to settle personal vendettas, or used by Islamist extremists as cover to persecute religious minorities. (See how WikiLeaks exposed insecurity over Pakistan nukes.)
Vague wording allows the blasphemy laws to be used an instrument of political and social coercion, says Ali Dayan Hasan, senior South Asia researcher at Human Rights Watch. And they give the state a sectarian character.
No conclusive evidence has been presented against Noreen, say people familiar with the case. The district judge relied on the testimonies of three other women, all of whom bore animus toward her. Noreen had long been under pressure by fellow farmworkers to convert to Islam, her family says. And the district judge ruled out any possibility of her innocence or mitigating circumstances.
Christians are subject to vicious prejudice in Pakistan, where their beliefs are said to make them 'unclean.' Municipalities routinely advertise jobs for cleaners with a note saying they would prefer Christian applicants. And defending their rights is not popular. When Salmaan Taseer, the governor of Punjab, visited Noreen in prison and urged her release, he was branded an apostate by fundamentalist groups. And in the fundamentalist view, apostasy, like blasphemy, is punishable by death.
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Life, Liberty, & the Pursuit of Happiness
It all began a year and a half ago, with a quarrel over a bowl of water. A group of women farm workers were suffering in the heat near a village in Pakistan's Punjab province. Aasia Noreen, an illiterate 45-year-old mother of five, offered them water, but was rebuffed. Noreen was a Christian, they said, and therefore her water was unclean - sadly, a common taunt hurled at Pakistan's beleaguered Christians. But rather than swallowing the indignity, she mounted a stout defense of her faith.
Word of the exchange swiftly filtered through the village of Ittan Wali, in Sheikhupura district. The local mullah took to his mosque's loudspeakers, exhorting his followers to take action against Noreen. In a depressingly familiar pattern, her defense of her faith was twisted into an accusation of blasphemy, according to her family and legal observers familiar with the case. As a frenzied mob pursued her, the police intervened, taking her into custody. But far from protecting her, they arrested and charged Noreen with insulting Islam and its prophet. And on Nov. 8, after enduring 18 months in prison, she was sentenced to death by a district court, making her the first woman to suffer that fate. (See how WikiLeaks' disclosure fueled anti-U.S. anger in Pakistan.)
In the ensuing weeks, the case of Noreen, popularly known as Aasia Bibi, has sparked a national furor. Human rights campaigners and lawyers have denounced the sentence. Religious fundamentalist groups, usually at odds with one another, have suddenly coalesced around a campaign to defend the blasphemy law and attack its critics. One politician who called for Noreen to be pardoned now faces a fatwa for alleged apostasy. Another politician, who is trying to have the blasphemy laws amended, has been warned that she will be besieged. On television, religious scholars have disagreed among themselves over the law's merits. Divisions are also being seen within the government, with powerful figures taking opposing sides. And there has even been global outrage, with Pope Benedict XVI last week calling for Noreen's freedom.
Noreen's case has spurred the first genuine debate over some of Pakistans most controversial laws. The original blasphemy law was drawn up by the British, in the Indian Penal Code of 1860, aimed at keeping the peace among the subcontinent's sometimes fractious diversity of faiths. Not only did Pakistan inherit the laws after partition, but it added to them. In the 1980s, General Muhammad Zia-ul-Haq's military dictatorship introduced a slew of elastically worded clauses, including a death sentence for those deemed to have defiled the sacred name of the Prophet.
Before Zia, there were only two reported cases of blasphemy. Since the death sentence was inserted in 1986, the number has soared to 962 - including 340 members of the Ahmadi Muslim sect, 119 Christians, and 14 Hindus. Close examination of the cases reveals the laws often being invoked to settle personal vendettas, or used by Islamist extremists as cover to persecute religious minorities. (See how WikiLeaks exposed insecurity over Pakistan nukes.)
Vague wording allows the blasphemy laws to be used an instrument of political and social coercion, says Ali Dayan Hasan, senior South Asia researcher at Human Rights Watch. And they give the state a sectarian character.
No conclusive evidence has been presented against Noreen, say people familiar with the case. The district judge relied on the testimonies of three other women, all of whom bore animus toward her. Noreen had long been under pressure by fellow farmworkers to convert to Islam, her family says. And the district judge ruled out any possibility of her innocence or mitigating circumstances.
Christians are subject to vicious prejudice in Pakistan, where their beliefs are said to make them 'unclean.' Municipalities routinely advertise jobs for cleaners with a note saying they would prefer Christian applicants. And defending their rights is not popular. When Salmaan Taseer, the governor of Punjab, visited Noreen in prison and urged her release, he was branded an apostate by fundamentalist groups. And in the fundamentalist view, apostasy, like blasphemy, is punishable by death.
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Life, Liberty, & the Pursuit of Happiness
Saturday, December 04, 2010
CNN Reporter Put On Watch List After Criticizing TSA
CNN Reporter Put On Watch List After Criticizing TSA: "In light of new reports alleging that the TSA is creating a watch list of individuals who criticized the agency as a form of collective punishment, it’s revealing to note that CNN journalist Drew Griffin was also put on a TSA watch list immediately after he filed reports critical of the organization back in 2008.
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Life, Liberty, & the Pursuit of Happiness
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Life, Liberty, & the Pursuit of Happiness
Feds Warrantlessly Tracking Americans’ Credit Cards in Real Time | Threat Level | Wired.com
Feds Warrantlessly Tracking Americans’ Credit Cards in Real Time | Threat Level | Wired.com: "Federal law enforcement agencies have been tracking Americans in real-time using credit cards, loyalty cards and travel reservations without getting a court order, a new document released under a government sunshine request shows.
The document, obtained by security researcher Christopher Soghoian, explains how so-called “Hotwatch” orders allow for real-time tracking of individuals in a criminal investigation via credit card companies, rental car agencies, calling cards, and even grocery store loyalty programs. The revelation sheds a little more light on the Justice Department’s increasing power and willingness to surveil Americans with little to no judicial or Congressional oversight.
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Life, Liberty, & the Pursuit of Happiness
The document, obtained by security researcher Christopher Soghoian, explains how so-called “Hotwatch” orders allow for real-time tracking of individuals in a criminal investigation via credit card companies, rental car agencies, calling cards, and even grocery store loyalty programs. The revelation sheds a little more light on the Justice Department’s increasing power and willingness to surveil Americans with little to no judicial or Congressional oversight.
- Sent using Google Toolbar"
Life, Liberty, & the Pursuit of Happiness
Chase orders Southlake bank to remove Christmas tree | Northeast Tarrant | News from For...
Chase orders Southlake bank to remove Christmas tree | Northeast Tarrant | News from For...: "SOUTHLAKE -- Chase Bank told a businessman to remove the Christmas tree he donated to a local branch because it could offend people.
Antonio Morales, owner of Bellagio Day Spa in Southlake, had assembled and decorated a 9-foot-tall tree in the lobby of the Chase Bank branch at 1700 E. Southlake Boulevard as a favor to the branch manager, who is one of his clients.
The tree remained in the lobby from the Monday before Thanksgiving until Tuesday. Morales said his friend called him Wednesday to tell him the tree had to go. She later showed him an e-mail from JPMorgan Chase saying that the tree had to be removed because some people were offended by it.
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Life, Liberty, & the Pursuit of Happiness
Antonio Morales, owner of Bellagio Day Spa in Southlake, had assembled and decorated a 9-foot-tall tree in the lobby of the Chase Bank branch at 1700 E. Southlake Boulevard as a favor to the branch manager, who is one of his clients.
The tree remained in the lobby from the Monday before Thanksgiving until Tuesday. Morales said his friend called him Wednesday to tell him the tree had to go. She later showed him an e-mail from JPMorgan Chase saying that the tree had to be removed because some people were offended by it.
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Life, Liberty, & the Pursuit of Happiness
Friday, December 03, 2010
Be Afraid - Be Very Afraid
EDITORIAL: Wave goodbye to Internet freedom - Washington Times: "The Federal Communications Commission (FCC) is poised to add the Internet to its portfolio of regulated industries. The agency's chairman, Julius Genachowski, announced Wednesday that he circulated draft rules he says will 'preserve the freedom and openness of the Internet.' No statement could better reflect the gulf between the rhetoric and the reality of Obama administration policies.
With a straight face, Mr. Genachowski suggested that government red tape will increase the 'freedom' of online services that have flourished because bureaucratic busybodies have been blocked from tinkering with the Web. Ordinarily, it would be appropriate at this point to supply an example from the proposed regulations illustrating the problem. Mr. Genachowski's draft document has over 550 footnotes and is stamped 'non-public, for internal use only' to ensure nobody outside the agency sees it until the rules are approved in a scheduled Dec. 21 vote. So much for 'openness.'
The issue of 'net neutrality' is nothing new, but the increasing popularity of online movie streaming services like Netflix have highlighted an area of potential concern. When someone watches a film over the Internet, especially in high definition, the maximum available capacity of the user's connection is used. Think, for example, of the problems that would arise at the water works if everyone decided to turn on their faucets and take a shower simultaneously. Internet providers are beginning to see the same strain on their networks.
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Life, Liberty, & the Pursuit of Happiness
With a straight face, Mr. Genachowski suggested that government red tape will increase the 'freedom' of online services that have flourished because bureaucratic busybodies have been blocked from tinkering with the Web. Ordinarily, it would be appropriate at this point to supply an example from the proposed regulations illustrating the problem. Mr. Genachowski's draft document has over 550 footnotes and is stamped 'non-public, for internal use only' to ensure nobody outside the agency sees it until the rules are approved in a scheduled Dec. 21 vote. So much for 'openness.'
The issue of 'net neutrality' is nothing new, but the increasing popularity of online movie streaming services like Netflix have highlighted an area of potential concern. When someone watches a film over the Internet, especially in high definition, the maximum available capacity of the user's connection is used. Think, for example, of the problems that would arise at the water works if everyone decided to turn on their faucets and take a shower simultaneously. Internet providers are beginning to see the same strain on their networks.
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Life, Liberty, & the Pursuit of Happiness
Economy Added Fewer Jobs Than Expected in November - WSJ.com
Economy Added Fewer Jobs Than Expected in November - WSJ.com: "WASHINGTON—The U.S. economy added fewer jobs than expected in November and the unemployment rate rose to its highest level since April, indicating the economic recovery remains weak 17 months after the recession ended.
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Life, Liberty, & the Pursuit of Happiness
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Life, Liberty, & the Pursuit of Happiness
Thursday, December 02, 2010
Amazon faces boycott over WikiLeaks axe | Metro.co.uk
Amazon faces boycott over WikiLeaks axe | Metro.co.uk: "Amazon is facing a backlash from its customers after kicking whistleblowing website WikiLeaks off its servers.
What is your opinion about the boycott?
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Life, Liberty, & the Pursuit of Happiness
What is your opinion about the boycott?
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Life, Liberty, & the Pursuit of Happiness
Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms
Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms: "- Sent using Google Toolbar"
What is your opinion about the Federal Reserve (FED) bailing out Europe?
Life, Liberty, & the Pursuit of Happiness
What is your opinion about the Federal Reserve (FED) bailing out Europe?
Life, Liberty, & the Pursuit of Happiness
Va. judge dismisses challenge to Obama health care - Yahoo! News
Va. judge dismisses challenge to Obama health care - Yahoo! News: "- Sent using Google Toolbar"
If the federal government can force people to do buy something then it has unlimited power over every citizen and it will do anything it wants. Tyranny is right around the corner.
Life, Liberty, & the Pursuit of Happiness
If the federal government can force people to do buy something then it has unlimited power over every citizen and it will do anything it wants. Tyranny is right around the corner.
Life, Liberty, & the Pursuit of Happiness
Wednesday, December 01, 2010
Economy Cartoons - US News and World Report
Life, Liberty, & the Pursuit of Happiness
Tuesday, November 30, 2010
US embassy cables: UN seeks answers from Washington | World news | The Guardian
US embassy cables: UN seeks answers from Washington | World news | The Guardian: "The senior American diplomat at the UN tonight defended her team after WikiLeaks disclosed a US spying operation targeting the UN's secretary-general, Ban Ki-moon, and members of the security council.
Susan Rice, the US ambassador appointed to the UN by Barack Obama last year, appeared uncomfortable and, at times, exasperated as she took questions from the media at the UN today.
She denied US diplomats were engaged in spying. 'Let me be very clear: our diplomats are just that,' she said. 'They are diplomats. That is what they do every day. They get out and work with partners here at the UN and around the world.'
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Susan Rice, the US ambassador appointed to the UN by Barack Obama last year, appeared uncomfortable and, at times, exasperated as she took questions from the media at the UN today.
She denied US diplomats were engaged in spying. 'Let me be very clear: our diplomats are just that,' she said. 'They are diplomats. That is what they do every day. They get out and work with partners here at the UN and around the world.'
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Let's call it the German 'Holiday' Village | Philadelphia Daily News | 11/30/2010
Let's call it the German 'Holiday' Village | Philadelphia Daily News | 11/30/2010: "It turns out that the letters spelling 'Christmas' were removed yesterday afternoon from the archways on the north and west sides of the plaza, at the request of Managing Director Richard Negrin. They will be replaced with the word 'Holiday.'
City spokesman Mark McDonald said Negrin asked for the change after the city received complaints from workers and residents.
'As a city of great diversity, one shouldn't be surprised that there's a difference of views when it comes to symbols and words,' McDonald said.
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City spokesman Mark McDonald said Negrin asked for the change after the city received complaints from workers and residents.
'As a city of great diversity, one shouldn't be surprised that there's a difference of views when it comes to symbols and words,' McDonald said.
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Smithsonian Christmas-Season Exhibit Features Ant-Covered Jesus, Naked Brothers Kissing, Genitalia, and Ellen DeGeneres Grabbing Her Breasts | CNSnews.com
Smithsonian Christmas-Season Exhibit Features Ant-Covered Jesus, Naked Brothers Kissing, Genitalia, and Ellen DeGeneres Grabbing Her Breasts | CNSnews.com: "(CNSNews.com) -- The federally funded National Portrait Gallery, one of the museums of the Smithsonian Institution, is currently showing an exhibition that features images of an ant-covered Jesus, male genitals, naked brothers kissing, men in chains, Ellen DeGeneres grabbing her breasts, and a painting the Smithsonian itself describes in the show's catalog as 'homoerotic.'
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GM's Massive Taxpayer IOU Remains - TheStreet
GM's Massive Taxpayer IOU Remains - TheStreet: "According to the most recent transaction report for the Troubled Asset Relief Program, the Treasury Department distributed $50.7 billion to General Motors; $16.3 billion to its one-time financing subsidiary, GMAC (now rebranded as Ally Financial); offered a $3.5 billion credit line to GM Supplier Receivables; and will distribute up to $1.5 billion in incentives to GMAC Mortgage to workout troubled homeowners' debt.
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Monday, November 29, 2010
How 250,000 US embassy cables were leaked | World news | guardian.co.uk
How 250,000 US embassy cables were leaked | World news | guardian.co.uk: "An innocuous-looking memory stick, no longer than a couple of fingernails, came into the hands of a Guardian reporter earlier this year. The device is so small it will hang easily on a keyring. But its contents will send shockwaves through the world's chancelleries and deliver what one official described as 'an epic blow' to US diplomacy.
The 1.6 gigabytes of text files on the memory stick ran to millions of words: the contents of more than 250,000 leaked state department cables, sent from, or to, US embassies around the world.
What will emerge in the days and weeks ahead is an unprecedented picture of secret diplomacy as conducted by the planet's sole superpower. There are 251,287 dispatches in all, from more than 250 US embassies and consulates. They reveal how the US deals with both its allies and its enemies – negotiating, pressuring and sometimes brusquely denigrating foreign leaders, all behind the firewalls of ciphers and secrecy classifications that diplomats assume to be secure. The leaked cables range up to the 'SECRET NOFORN' level, which means they are meant never to be shown to non-US citizens.
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The 1.6 gigabytes of text files on the memory stick ran to millions of words: the contents of more than 250,000 leaked state department cables, sent from, or to, US embassies around the world.
What will emerge in the days and weeks ahead is an unprecedented picture of secret diplomacy as conducted by the planet's sole superpower. There are 251,287 dispatches in all, from more than 250 US embassies and consulates. They reveal how the US deals with both its allies and its enemies – negotiating, pressuring and sometimes brusquely denigrating foreign leaders, all behind the firewalls of ciphers and secrecy classifications that diplomats assume to be secure. The leaked cables range up to the 'SECRET NOFORN' level, which means they are meant never to be shown to non-US citizens.
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The US Diplomatic Leaks: A Superpower's View of the World - SPIEGEL ONLINE - News - International
The US Diplomatic Leaks: A Superpower's View of the World - SPIEGEL ONLINE - News - International: "Never before in history has a superpower lost control of such vast amounts of such sensitive information -- data that can help paint a picture of the foundation upon which US foreign policy is built. Never before has the trust America's partners have in the country been as badly shaken. Now, their own personal views and policy recommendations have been made public -- as have America's true views of them.
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Sunday, November 28, 2010
Swiss voters approve harsher deportation plan | Europe | Deutsche Welle | 28.11.2010
Swiss voters approve harsher deportation plan | Europe | Deutsche Welle | 28.11.2010: "Switzerland has approved a plan to automatically deport foreigners convicted of serious crimes
How come other countries can control their borders but USA cannot?
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How come other countries can control their borders but USA cannot?
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GM's union made out like a bandit!
GM's union recovering after stock sale - Washington Times: "General Motors Co.'s recent stock offering was staged to start paying back the government for its $50 billion bailout, but one group made out much better than the taxpayers or other investors: the company's union.
Thanks to a generous share of GM stock obtained in the company's 2009 bankruptcy settlement, the United Auto Workers is well on its way to recouping the billions of dollars GM owed it — putting it far ahead of taxpayers who have recouped only about 30 percent of their investment and further still ahead of investors in the old GM who have received nothing.
The boon for the union fits the pattern established when the White House pushed GM into bankruptcy and steered it through the courts in a way that consistently put the interests of the union ahead of many suppliers, dealers and investors — stakeholders that ordinarily would have fared as well or better under the bankruptcy laws.
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Thanks to a generous share of GM stock obtained in the company's 2009 bankruptcy settlement, the United Auto Workers is well on its way to recouping the billions of dollars GM owed it — putting it far ahead of taxpayers who have recouped only about 30 percent of their investment and further still ahead of investors in the old GM who have received nothing.
The boon for the union fits the pattern established when the White House pushed GM into bankruptcy and steered it through the courts in a way that consistently put the interests of the union ahead of many suppliers, dealers and investors — stakeholders that ordinarily would have fared as well or better under the bankruptcy laws.
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SEIU drops health coverage !!!!!!!
1199SEIU to Drop Health Coverage for Workers' Children - Metropolis - WSJ:
It should not come as any surprise to anyone that even Unions are dropping Health Coverage.
"One of the largest union-administered health-insurance funds in New York is dropping coverage for the children of more than 30,000 low-wage home attendants, union officials said. The union blamed financial problems it said were caused by the state’s health department and new national health-insurance requirements.
The fund is administered by 1199SEIU United Healthcare Workers East, an affiliate of the Service Employees International Union. Union officials said the state compelled the fund to start buying coverage from a third party, which increased premiums by 60%. State health officials denied forcing the union fund to make the switch, saying the fund had been struggling financially even before the switch to third-party coverage.
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It should not come as any surprise to anyone that even Unions are dropping Health Coverage.
"One of the largest union-administered health-insurance funds in New York is dropping coverage for the children of more than 30,000 low-wage home attendants, union officials said. The union blamed financial problems it said were caused by the state’s health department and new national health-insurance requirements.
The fund is administered by 1199SEIU United Healthcare Workers East, an affiliate of the Service Employees International Union. Union officials said the state compelled the fund to start buying coverage from a third party, which increased premiums by 60%. State health officials denied forcing the union fund to make the switch, saying the fund had been struggling financially even before the switch to third-party coverage.
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Doctors not accepting Medicare Patients
Doctors say Medicare cuts force painful decision about elderly patients: "Want an appointment with kidney specialist Adam Weinstein of Easton, Md.? If you're a senior covered by Medicare, the wait is eight weeks.
How about a checkup from geriatric specialist Michael Trahos? Expect to see him every six months: The Alexandria-based doctor has been limiting most of his Medicare patients to twice yearly rather than the quarterly checkups he considers ideal for the elderly. Still, at least he'll see you. Top-ranked primary care doctor Linda Yau is one of three physicians with the District's Foxhall Internists group who recently announced they will no longer be accepting Medicare patients.
'It's not easy. But you realize you either do this or you don't stay in business,' she said.
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How about a checkup from geriatric specialist Michael Trahos? Expect to see him every six months: The Alexandria-based doctor has been limiting most of his Medicare patients to twice yearly rather than the quarterly checkups he considers ideal for the elderly. Still, at least he'll see you. Top-ranked primary care doctor Linda Yau is one of three physicians with the District's Foxhall Internists group who recently announced they will no longer be accepting Medicare patients.
'It's not easy. But you realize you either do this or you don't stay in business,' she said.
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Barack Obama's grandmother 'prays he converts to Islam' - Telegraph
Barack Obama's grandmother 'prays he converts to Islam' - Telegraph: "Barack Obama's Kenyan grandmother has said she prayed for the US president to convert to Islam, according to reports.
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Friday, November 26, 2010
What will be Barack Obama's ACHIEVEMENTS in 2011?
What will be Barack Obama's ACHIEVEMENTS in 2011?
- Finding and keeping qualified economic advisors
- Triangulation to the center of American politics
- Airport security (TSA)
- Federal Regulation of all human behavior $
- Setting world record for the number of appearances and interviews on television
- Historically high Frequent flier-miles on Air Force One $
- Afghanistan war
- American dollar devaluation $
- Unemployment $
- Iran
- Iraq
- North Korea
- Inflation and/or Deflation $
- Economic growth $
- rescue mission by the European Union and the International Monetary Fund $$$$$$
- Terrorism
- Prosecution of business "fat cats"
- Guantanamo Bay closing
- "Too big to fail" $
- Gays in the military
- Union Pensions unfunded liabilities $
- Stability of American Dollar ($)
- Federal deficit $
- Increase/decrease Federal debt $
- Increase/decrease Federal spending $
- Federal tax increase $
- Health Care quality $
- Consumer confidence
- Energy independence
- Over-Regulation of American Business
- Balance of trade with China
- Prosecution of Terrorists
- Global governance
- Obesity
- Global warming
- Green jobs $
- Nationalization of American Business
- START treaty
- Winter Olympics for America
- Political bipartisanship
- Listening to the American People
- Upholding the Constitution of the United States
- More documentation of United States violations of Human Rights
- Explaining Obamacare more clearly and forcefully
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Thursday, November 25, 2010
Wednesday, November 24, 2010
Pelosi's new mission: Limit Obama deals with GOP - Yahoo! News
Behind Democrats' decision to keep Pelosi as their leader after historic losses lies intense concern among liberals who dominate the party's ranks on Capitol Hill: They fear Obama will go too far in accommodating the GOP in the new era of divided government, and they see Pelosi as a counterweight.
She's played that role before. When Democrats panicked after losing their Senate supermajority last winter, Pelosi rebuffed feelers by then-White House Chief of Staff Rahm Emanuel and others to settle for a smaller health care bill. She derided the approach as 'kiddie care' and pushed forward with the sweeping overhaul she painstakingly steered through the House by a razor-thin margin.
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Mr. Smut goes to Washington | themichiganview.com | The Michigan View
Life, Liberty, & the Pursuit of Happiness
Bobby Jindal: Make Congress part-time - Jennifer Epstein - POLITICO.com
Bobby Jindal: Make Congress part-time - Jennifer Epstein - POLITICO.com: "“We used to pay farmers not to grow crops, let's pay congressmen to stay out of Washington, D.C.,” Jindal said in an interview with Human Events. “Mark Twain said that our liberty, our wallets were safest when the legislature's not in session.”
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Top political scientist: U.S. voters are 'pretty damn stupid' | Washington Examiner
Top political scientist: U.S. voters are 'pretty damn stupid' | Washington Examiner: "Political reporters often rely on University of Wisconsin political scientist Charles Franklin for expertise. In just the past few months, his insights have appeared in articles in the New York Times, Washington Post, USA Today, Associated Press, Politico, Boston Globe, Christian Science Monitor, and many other publications. He's also a co-founder of the influential website Pollster.com, as well as co-director of the Big Ten Battleground Poll.
So Franklin answered with considerable authority when he was asked, at a recent forum on the November 2 election results, why Republicans emerged victorious in so many races. 'I'm not endorsing the American voter,' Franklin said. 'They're pretty damn stupid.'
Franklin was responding to a question from Bill Lueders, news editor of Isthmus, a weekly alternative newspaper in Madison, Wisconsin. In an account published Thursday (H/T Ann Althouse), Lueders says he asked Franklin why 'the public seemed to vote against its own interests and stated desires, for instance by electing candidates who'll drive up the deficit with fiscally reckless giveaways to the rich.'
'Franklin, perhaps a bit too candidly, conceded the point,' Lueders writes. ''I'm not endorsing the American voter,' he answered. 'They're pretty damn stupid.''
Lueders writes that he responded, 'Thank you, professor. That's the answer I was looking for.' The rest of Lueders' account explains that smart voters support things like high-speed rail and higher taxes for the rich, while dumb voters support 'an obvious phony like [Republican senator-elect] Ron Johnson over Russ Feingold.'
But Franklin is the real star of the story. If you read his quotes in mainstream publications, you'll find a series of measured statements on political trends. Democrats appealing to the youth vote in the run-up to the midterms are 'betting long odds, given the very long history of low turnout in midterms among young voters,' Franklin told the Washington Post recently. Final pre-election polls suggested 'a Republican wave of genuinely historical proportions,' he told USA Today. Feingold's problems had 'more to do with the mood of the country than with Feingold himself,' he told the Boston Globe.
It's all pretty unremarkable stuff. And readers would have no idea what Franklin really thinks about the voters whose opinions he's measuring and commenting on. But now they do.
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So Franklin answered with considerable authority when he was asked, at a recent forum on the November 2 election results, why Republicans emerged victorious in so many races. 'I'm not endorsing the American voter,' Franklin said. 'They're pretty damn stupid.'
Franklin was responding to a question from Bill Lueders, news editor of Isthmus, a weekly alternative newspaper in Madison, Wisconsin. In an account published Thursday (H/T Ann Althouse), Lueders says he asked Franklin why 'the public seemed to vote against its own interests and stated desires, for instance by electing candidates who'll drive up the deficit with fiscally reckless giveaways to the rich.'
'Franklin, perhaps a bit too candidly, conceded the point,' Lueders writes. ''I'm not endorsing the American voter,' he answered. 'They're pretty damn stupid.''
Lueders writes that he responded, 'Thank you, professor. That's the answer I was looking for.' The rest of Lueders' account explains that smart voters support things like high-speed rail and higher taxes for the rich, while dumb voters support 'an obvious phony like [Republican senator-elect] Ron Johnson over Russ Feingold.'
But Franklin is the real star of the story. If you read his quotes in mainstream publications, you'll find a series of measured statements on political trends. Democrats appealing to the youth vote in the run-up to the midterms are 'betting long odds, given the very long history of low turnout in midterms among young voters,' Franklin told the Washington Post recently. Final pre-election polls suggested 'a Republican wave of genuinely historical proportions,' he told USA Today. Feingold's problems had 'more to do with the mood of the country than with Feingold himself,' he told the Boston Globe.
It's all pretty unremarkable stuff. And readers would have no idea what Franklin really thinks about the voters whose opinions he's measuring and commenting on. But now they do.
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Food Bank Delivery Van Stolen During Busy Season | NBC Washington
Food Bank Delivery Van Stolen During Busy Season | NBC Washington:
This is a symptom of our times.
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This is a symptom of our times.
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The Bill of Rights - Amendment X
The Bill of Rights - Amendment X
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
Ron Paul: Crotch Groped by TSA, Calls for Boycott of Airlines
Ron Paul: Crotch Groped by TSA, Calls for Boycott of Airlines: "“If we tolerate this,” Paul said, “there’s something wrong with us.” He added that the American people deserve to be humiliated and demeaned by the government if they refuse to stand up and resist.
Paul predicted Americans will eventually boycott the airlines to put an end to the intrusive searches and the unconscionable use of dangerous backscatter radiation naked body scanners. “Maybe the Congress will get off their duffs and do something in January,” he said, “and insist we reign in the TSA.”
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Paul predicted Americans will eventually boycott the airlines to put an end to the intrusive searches and the unconscionable use of dangerous backscatter radiation naked body scanners. “Maybe the Congress will get off their duffs and do something in January,” he said, “and insist we reign in the TSA.”
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Thursday, November 18, 2010
China Buying GM IPO
My Way News - China's SAIC buys nearly 1 percent stake in GM:
"SHANGHAI (AP) - General Motors Co. (GM)'s main joint venture partner in China, SAIC Motor Corp., says it has bought a nearly 1 percent stake in the American automaker through its initial public offering.
SAIC, which is owned by the Shanghai city government, said Thursday it paid $33 a share for about 0.97 percent of GM at a total cost of nearly $500 million.
GM's stock offer is worth potentially $23 billion and will end the U.S. government's role as a majority shareholder after the automaker entered bankruptcy protection in June 2009.
The long-standing partnership between GM and SAIC - GM could not sell cars in China without a local partner - includes the U.S. automaker's flagship China joint venture, one of 10 ranging from research and design to manufacturing and finance.
The companies said the share purchase is meant to enhance their cooperation in the world's biggest auto market.
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"SHANGHAI (AP) - General Motors Co. (GM)'s main joint venture partner in China, SAIC Motor Corp., says it has bought a nearly 1 percent stake in the American automaker through its initial public offering.
SAIC, which is owned by the Shanghai city government, said Thursday it paid $33 a share for about 0.97 percent of GM at a total cost of nearly $500 million.
GM's stock offer is worth potentially $23 billion and will end the U.S. government's role as a majority shareholder after the automaker entered bankruptcy protection in June 2009.
The long-standing partnership between GM and SAIC - GM could not sell cars in China without a local partner - includes the U.S. automaker's flagship China joint venture, one of 10 ranging from research and design to manufacturing and finance.
The companies said the share purchase is meant to enhance their cooperation in the world's biggest auto market.
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Life, Liberty, & the Pursuit of Happiness
Wednesday, November 17, 2010
Tuesday, November 16, 2010
Government Employees Owe Billions in Delinquent Taxes - CNBC
Government Employees Owe Billions in Delinquent Taxes - CNBC: "Deficit cutters struggling to make ends meet in Washington are eyeballing an unusual pot of potential revenue: back taxes owed to the government by federal employees themselves.
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Bond Market Defies Fed - WSJ.com
Bond Market Defies Fed - WSJ.com: "Bucking the Federal Reserve's efforts to push interest rates lower, investors are selling off U.S. government debt, driving rates in many cases to their highest levels in more than three months.
The Fed's $600 billion program to buy Treasury bonds began late last week and is kicking into high gear this week, with the central bank buying up tens of billions of dollars of debt.
Bucking the Fed's efforts to push down interest rates, investors are selling off U.S. Treasurys, driving some rates to their highest levels in months. Michael Casey and Emma Moody discuss. Also, Jon Hilsenrath talks about Fed officials, including Janet Yellen and Bill Dudley, who say the stimulus plan is an attempt to boost U.S. growth, not weaken the dollar or raise inflation above 2%.
That should have driven prices up on those bonds and lowered their interest rates, or yields, which move opposite to the price. Instead, yields on almost every Treasury have been rising.
The trend is a potential problem for the economy and the Fed. Rates had fallen sharply for months in anticipation of a Fed buying program, and in a short time much of that effect has been lost, spelling an unwelcome rise in borrowing costs throughout the economy.
That could throw a wrench in what the Fed is trying to accomplish: to use low rates to encourage more borrowing and risk-taking by consumers, businesses and investors, thereby reviving growth.
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The Fed's $600 billion program to buy Treasury bonds began late last week and is kicking into high gear this week, with the central bank buying up tens of billions of dollars of debt.
Bucking the Fed's efforts to push down interest rates, investors are selling off U.S. Treasurys, driving some rates to their highest levels in months. Michael Casey and Emma Moody discuss. Also, Jon Hilsenrath talks about Fed officials, including Janet Yellen and Bill Dudley, who say the stimulus plan is an attempt to boost U.S. growth, not weaken the dollar or raise inflation above 2%.
That should have driven prices up on those bonds and lowered their interest rates, or yields, which move opposite to the price. Instead, yields on almost every Treasury have been rising.
The trend is a potential problem for the economy and the Fed. Rates had fallen sharply for months in anticipation of a Fed buying program, and in a short time much of that effect has been lost, spelling an unwelcome rise in borrowing costs throughout the economy.
That could throw a wrench in what the Fed is trying to accomplish: to use low rates to encourage more borrowing and risk-taking by consumers, businesses and investors, thereby reviving growth.
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Rangel found guilty of 11 ethics violations - Yahoo! News
Rangel found guilty of 11 ethics violations - Yahoo! News: "A House Ethics subcommittee announced Tuesday that it has found New York Democratic Rep. Charlie Rangel guilty of 11 ethics violations.
The panel's chairwoman, California Democratic Rep. Zoe Lofgren said the committee rolled two charges together, meaning that Rangel was ultimately charged with 12, not 13 charges as originally stated. She added the committee was split on one of the remaining 12 counts-- a charge of harming the credibility of Congress.
Rangel walked out of his House trial yesterday in protest claiming that the drawn-out proceedings had left him unable to afford legal representation. Charges included improperly soliciting donations for his center and New York's City College, a failure to provide complete financial disclosure information, and improper use of a rent-controlled apartment for campaign purposes.
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The panel's chairwoman, California Democratic Rep. Zoe Lofgren said the committee rolled two charges together, meaning that Rangel was ultimately charged with 12, not 13 charges as originally stated. She added the committee was split on one of the remaining 12 counts-- a charge of harming the credibility of Congress.
Rangel walked out of his House trial yesterday in protest claiming that the drawn-out proceedings had left him unable to afford legal representation. Charges included improperly soliciting donations for his center and New York's City College, a failure to provide complete financial disclosure information, and improper use of a rent-controlled apartment for campaign purposes.
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The big disconnect: D.C. elites think Obama will be reelected, but the public doubts it - Mark Penn - POLITICO.com
The big disconnect: D.C. elites think Obama will be reelected, but the public doubts it - Mark Penn - POLITICO.com: "The midterms not only dealt a big shock to Democrats but also sent a message to President Barack Obama. According to the new POLITICO Power and the People poll, only 26 percent of the public believes he will be reelected as president in 2012.
This difference in expectations could mislead the president if he is listening to the Beltway chatter — right here in D.C., he may just find a lot of comfort in this assessment by insiders, and that may lead to actions that don’t fully adjust for the sea change that has occurred among the general public. (See also Poll: D.C. Sees Midterms Differently)
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This difference in expectations could mislead the president if he is listening to the Beltway chatter — right here in D.C., he may just find a lot of comfort in this assessment by insiders, and that may lead to actions that don’t fully adjust for the sea change that has occurred among the general public. (See also Poll: D.C. Sees Midterms Differently)
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Monday, November 15, 2010
CNBC's Fast Money: Secret Walmart Survey Shows Inflation Already Here - CNBC
CNBC's Fast Money: Secret Walmart Survey Shows Inflation Already Here - CNBC: "There might not have been a second round of quantitative easing, if Federal Reserve Chairman Ben Bernanke shopped at Walmart.
A new pricing survey of products sold at the world’s largest retailer [WMT 54.25 0.12 (+0.22%) ] showed a 0.6 percent price increase in just the last two months, according to MKM Partners. At that rate, prices would be close to four percent higher a year from now, double the Fed’s mandate.
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A new pricing survey of products sold at the world’s largest retailer [WMT 54.25 0.12 (+0.22%) ] showed a 0.6 percent price increase in just the last two months, according to MKM Partners. At that rate, prices would be close to four percent higher a year from now, double the Fed’s mandate.
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Life, Liberty, & the Pursuit of Happiness
Saturday, November 13, 2010
Bobby Jindal for President
Special Report with Bret Baier is launching a 12-day series on the topic called '12 in 12' that each day will feature a profile of one of 12 Republicans who may launch presidential bids for the 2012 race.
If Jindal were to run for President in 2012 and win the election, he would reportedly be the youngest president in history.
'He's always been talked about as a future star of the Republican Party. He comes off as a competent and effective governor,' National Public Radio (NPR) correspondent Mara Liasson, said.
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Friday, November 12, 2010
Analysis: German tempers fray as U.S. policy gulf widens | Reuters
Analysis: German tempers fray as U.S. policy gulf widens | Reuters: "(Reuters) - Germany's undiplomatic outbursts against U.S. policy, calling it 'clueless' before a G20 summit, show growing estrangement on economics as America's focus shifts away from transatlantic ties to domestic challenges and Asia.
'The Atlantic is getting wider,' said Anton Boerner, head of Germany's Foreign Trade Association, who spoke of a 'creeping alienation' between America and Europe, which has been exacerbated by the global financial crisis.
Germany and the United States often criticize each other's approaches to aiding economic recovery, with U.S. calls for more expansive policy falling on deaf ears in fiscally disciplined Germany. But Berlin has taken the rhetoric to a new level.
Finance Minister Wolfgang Schaeuble, 68, said last week that the U.S. Federal Reserve decision to buy $600 billion of government bonds undermined U.S. credibility and was 'clueless.' There was no point, he said, in pumping money into the markets.
China and Brazil were among those echoing his comments but U.S. officials were particularly stung by Schaeuble and German Economy Minister Rainer Bruederle saying the Fed move amounted to 'indirect manipulation' of the dollar to boost exports; this at a time when Washington is criticizing China for exactly the same kind of strategy.
'It's not acceptable for the Americans to criticize China for currency manipulation then slyly help the dollar by printing at the Federal Reserve,' Schaeuble told Der Spiegel magazine.
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'The Atlantic is getting wider,' said Anton Boerner, head of Germany's Foreign Trade Association, who spoke of a 'creeping alienation' between America and Europe, which has been exacerbated by the global financial crisis.
Germany and the United States often criticize each other's approaches to aiding economic recovery, with U.S. calls for more expansive policy falling on deaf ears in fiscally disciplined Germany. But Berlin has taken the rhetoric to a new level.
Finance Minister Wolfgang Schaeuble, 68, said last week that the U.S. Federal Reserve decision to buy $600 billion of government bonds undermined U.S. credibility and was 'clueless.' There was no point, he said, in pumping money into the markets.
China and Brazil were among those echoing his comments but U.S. officials were particularly stung by Schaeuble and German Economy Minister Rainer Bruederle saying the Fed move amounted to 'indirect manipulation' of the dollar to boost exports; this at a time when Washington is criticizing China for exactly the same kind of strategy.
'It's not acceptable for the Americans to criticize China for currency manipulation then slyly help the dollar by printing at the Federal Reserve,' Schaeuble told Der Spiegel magazine.
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Pat Buchanan : Personal Finance : The Fed Trashes the Dollar - Townhall.com
Pat Buchanan : Personal Finance : The Fed Trashes the Dollar - Townhall.com:
"If it is the first responsibility of the Federal Reserve to protect the dollars that Americans earn and save, is it not dereliction of duty for the Fed to pursue a policy to bleed value from those dollars? For that is what Chairman Ben Bernanke is up to with his QE2, or 'quantitative easing.'
Translation: The Fed is committed to buy $600 billion in bonds from banks and pay for them by printing money that will then be deposited in those banks. The more dollars that flood into the economy, the less every one of them is worth.
Bernanke is not just risking inflation. He is inducing inflation.
He is reducing the value of the dollar to make U.S. exports more competitive and imports more expensive, so that we will consume fewer imports. He is trying to eliminate the U.S. trade deficit by treating the once universally respected dollar like the peso of a banana republic.
Sarah Palin has nailed cold what Bernanke is about:
'We shouldn't be playing around with inflation. It's not for nothing Reagan called it 'as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.'
'The Fed's pump-priming addiction has got our small businesses running scared and our allies worried. The German finance minister called the Fed's proposals 'clueless.' When Germany, a country that knows a thing or two about the dangers of inflation, warns us to think again, maybe it's time for Chairman Bernanke to cease and desist.
'We don't want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings.'
Egging Ben on is the Nobel-prize winning New York Times columnist Paul Krugman. Fed policy is too timid, says Krugman.
When Bernanke said we are not 'going to try to raise inflation to a super-normal level,' he blew it, says Krugman, and 'there goes the best chance the Fed's plan might actually work.'
What the Fed should do, he says, is change expectations 'by leading people to believe that we will have somewhat above-normal inflation ... which would reduce the incentive to sit on cash.'
But 'sit on cash' is a definition of saving. Is saving bad? Once, Americans were taught that saving was a good thing.
Not to Krugman. He wants to panic the public into believing the money they have put into savings accounts and CDs will be rapidly eaten up by Fed-created inflation, so they will run out and spend that money now to get the economy moving again.
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Life, Liberty, & the Pursuit of Happiness
"If it is the first responsibility of the Federal Reserve to protect the dollars that Americans earn and save, is it not dereliction of duty for the Fed to pursue a policy to bleed value from those dollars? For that is what Chairman Ben Bernanke is up to with his QE2, or 'quantitative easing.'
Translation: The Fed is committed to buy $600 billion in bonds from banks and pay for them by printing money that will then be deposited in those banks. The more dollars that flood into the economy, the less every one of them is worth.
Bernanke is not just risking inflation. He is inducing inflation.
He is reducing the value of the dollar to make U.S. exports more competitive and imports more expensive, so that we will consume fewer imports. He is trying to eliminate the U.S. trade deficit by treating the once universally respected dollar like the peso of a banana republic.
Sarah Palin has nailed cold what Bernanke is about:
'We shouldn't be playing around with inflation. It's not for nothing Reagan called it 'as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.'
'The Fed's pump-priming addiction has got our small businesses running scared and our allies worried. The German finance minister called the Fed's proposals 'clueless.' When Germany, a country that knows a thing or two about the dangers of inflation, warns us to think again, maybe it's time for Chairman Bernanke to cease and desist.
'We don't want temporary, artificial economic growth bought at the expense of permanently higher inflation which will erode the value of our incomes and our savings.'
Egging Ben on is the Nobel-prize winning New York Times columnist Paul Krugman. Fed policy is too timid, says Krugman.
When Bernanke said we are not 'going to try to raise inflation to a super-normal level,' he blew it, says Krugman, and 'there goes the best chance the Fed's plan might actually work.'
What the Fed should do, he says, is change expectations 'by leading people to believe that we will have somewhat above-normal inflation ... which would reduce the incentive to sit on cash.'
But 'sit on cash' is a definition of saving. Is saving bad? Once, Americans were taught that saving was a good thing.
Not to Krugman. He wants to panic the public into believing the money they have put into savings accounts and CDs will be rapidly eaten up by Fed-created inflation, so they will run out and spend that money now to get the economy moving again.
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Life, Liberty, & the Pursuit of Happiness
US, South Korea trade accord not a done deal - The Boston Globe
US, South Korea trade accord not a done deal - The Boston Globe: "President Obama’s hopes of emerging from his Asia trip with the twin victories of a free trade agreement with South Korea and a unified approach to spurring global economic growth ran into resistance on all fronts yesterday, putting Obama at odds with his key allies and largest trading partners.
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Thursday, November 11, 2010
President Obama can't close deals at G-20 summit - Carol E. Lee and John Maggs - POLITICO.com
President Obama can't close deals at G-20 summit - Carol E. Lee and John Maggs - POLITICO.com: "SEOUL - President Barack Obama failed to reach agreement on two international deals to help spur the U.S. economy, unexpected setbacks on an Asia trip that was supposed to emphasize his stature abroad and change the subject from last week’s electoral drubbing.
Obama was unable to achieve a free trade agreement with South Korea, vowing to keep talking to get a better deal for U.S. auto makers. And after meeting with the leaders of Germany and China, he continued to meet resistance from the two countries about reducing their trade surpluses with the U.S. to give a boost to American manufacturing, putting the best face on a compromise that only calls for the goal of lowering them.
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Obama was unable to achieve a free trade agreement with South Korea, vowing to keep talking to get a better deal for U.S. auto makers. And after meeting with the leaders of Germany and China, he continued to meet resistance from the two countries about reducing their trade surpluses with the U.S. to give a boost to American manufacturing, putting the best face on a compromise that only calls for the goal of lowering them.
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Life, Liberty, & the Pursuit of Happiness
Saturday, November 06, 2010
FT.com / China - China tees up G20 showdown with US
FT.com / China - China tees up G20 showdown with US: "China has curtly dismissed a US proposal to address global economic imbalances, setting the stage for a potential showdown at next week’s G20 meeting in Seoul.
Cui Tiankai, a deputy foreign minister and one of China’s lead negotiators at the G20, said on Friday that the US plan for limiting current account surpluses and deficits to 4 per cent of gross domestic product harked back “to the days of planned economies”.
“We believe a discussion about a current account target misses the whole point,” he added, in the first official comment by a senior Chinese official on the subject. “If you look at the global economy, there are many issues that merit more attention – for example, the question of quantitative easing.”
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Life, Liberty, & the Pursuit of Happiness
Cui Tiankai, a deputy foreign minister and one of China’s lead negotiators at the G20, said on Friday that the US plan for limiting current account surpluses and deficits to 4 per cent of gross domestic product harked back “to the days of planned economies”.
“We believe a discussion about a current account target misses the whole point,” he added, in the first official comment by a senior Chinese official on the subject. “If you look at the global economy, there are many issues that merit more attention – for example, the question of quantitative easing.”
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Life, Liberty, & the Pursuit of Happiness
Friday, November 05, 2010
Obama visit criticised for 'over-the-top' spending - World News - IBNLive
Obama visit criticised for 'over-the-top' spending - World News - IBNLive: "About 3,000 people including Secret Service agents, US government officials and journalists would accompany the President. Several officials from the White House and US security agencies are already in Mumbai for the past one week with helicopters, a ship and high-end security instruments.
Unprecedented security has been put in place both in Mumbai and New delhi.
'We have never seen this sort of an entourage going with the president before. And I think this is an example the massive overspending that we've seen - not only just in the last 2 years, really in the last four,' Bachmann said.
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Unprecedented security has been put in place both in Mumbai and New delhi.
'We have never seen this sort of an entourage going with the president before. And I think this is an example the massive overspending that we've seen - not only just in the last 2 years, really in the last four,' Bachmann said.
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Life, Liberty, & the Pursuit of Happiness
Thursday, October 21, 2010
Fannie, Freddie bailout could double, regulator says
Fannie, Freddie bailout could double, regulator says: "Fannie and Freddie, the federally controlled mortgage finance giants, probably will need at least another $73 billion and perhaps as much as $215 billion from taxpayers in the next three years to meet their financial obligations, the Federal Housing Finance Agency said, but much of that money would automatically be returned to the government.
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Life, Liberty, & the Pursuit of Happiness
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Life, Liberty, & the Pursuit of Happiness
Friday, October 08, 2010
Government Licensing Internet News Report
Government Licensing Internet News Report: "New offer from Microsoft executives would open the door for state licenses to access the Internet, authorities have the power to block individual computers connecting to the world wide web under the pretext of preventing malicious attacks.
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Life, Liberty, & the Pursuit of Happiness
Thursday, October 07, 2010
Panel: Gov't thwarted worst-case scenario on spill - Yahoo! News
Panel: Gov't thwarted worst-case scenario on spill - Yahoo! News: "WASHINGTON – The White House blocked efforts by federal scientists to tell the public just how bad the Gulf oil spill could have been.
That finding comes from a panel appointed by President Barack Obama to investigate the worst offshore oil spill in history.
In documents released Wednesday, the national oil spill commission reveals that in late April or early May the White House budget office denied a request from the National Oceanic and Atmospheric Administration to make public the worst-case discharge from the blown-out well.
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Life, Liberty, & the Pursuit of Happiness
That finding comes from a panel appointed by President Barack Obama to investigate the worst offshore oil spill in history.
In documents released Wednesday, the national oil spill commission reveals that in late April or early May the White House budget office denied a request from the National Oceanic and Atmospheric Administration to make public the worst-case discharge from the blown-out well.
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Life, Liberty, & the Pursuit of Happiness
Gallup Finds U.S. Unemployment at 10.1% in September
Gallup Finds U.S. Unemployment at 10.1% in September: "PRINCETON, NJ -- Unemployment, as measured by Gallup without seasonal adjustment, increased to 10.1% in September -- up sharply from 9.3% in August and 8.9% in July. Much of this increase came during the second half of the month -- the unemployment rate was 9.4% in mid-September -- and therefore is unlikely to be picked up in the government's unemployment report on Friday.
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Life, Liberty, & the Pursuit of Happiness
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THE HARD TRUTH: BLACKS HATE WHITE PEOPLE | Angry White Dude
THE HARD TRUTH: BLACKS HATE WHITE PEOPLE | Angry White Dude: "- Sent using Google Toolbar"
I believe that race relations are hitting a new low. Articles like this are showing up more and more and it further divides Americans. I would really appreciate any comments you might have about the contents and tone of this article. Where is America heading?
Life, Liberty, & the Pursuit of Happiness
I believe that race relations are hitting a new low. Articles like this are showing up more and more and it further divides Americans. I would really appreciate any comments you might have about the contents and tone of this article. Where is America heading?
Life, Liberty, & the Pursuit of Happiness
The Bill of Rights - Amendment IX
The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people.
Study: Cap and Trade Could Cost 1.9 Million Jobs
Study: Cap and Trade Could Cost 1.9 Million Jobs
Please read this. It is important to consider for the future of everyone in the USA.
Please read this. It is important to consider for the future of everyone in the USA.
Wednesday, October 06, 2010
Global Governance Is at Critical Juncture
Global Governance Is at Critical Juncture: "The report defines global governance as the collective management of common problems at the international level. While there have been many successes since the end of World War II, “the growing number of issues on the international agenda, and their complexity, is outpacing the ability of international organizations and national governments to cope,” the report said.
Political power not only is shifting from established powers to rising countries and to a certain degree to the developing world, it is also shifting to nonstate entities — which include multinational businesses, nongovernmental organizations, civil-society groups, churches and faith-based organizations, and special-interest groups. Complicating the ability to effectively govern is both diverse perspectives and suspicions about global governance, which is often regarded as a Western concept that is alien to local and regional customs. This makes mastering the challenges even more difficult, the report said.
While many nonstate entities are contributing to global governance to resolve issues, a few groups such as international criminal organizations and terrorist groups that are empowered by technology can pose serious threats, the report said.
The authors note that global governance does not mean “world government.” The reason it does not mean a single global governing body is that nations are unlikely to abandon national sovereignty. In addition, there are multiple divergent interests and there continues to be deep-seated concerns about the effectiveness of current international institutions, the report said.
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Life, Liberty, & the Pursuit of Happiness
Political power not only is shifting from established powers to rising countries and to a certain degree to the developing world, it is also shifting to nonstate entities — which include multinational businesses, nongovernmental organizations, civil-society groups, churches and faith-based organizations, and special-interest groups. Complicating the ability to effectively govern is both diverse perspectives and suspicions about global governance, which is often regarded as a Western concept that is alien to local and regional customs. This makes mastering the challenges even more difficult, the report said.
While many nonstate entities are contributing to global governance to resolve issues, a few groups such as international criminal organizations and terrorist groups that are empowered by technology can pose serious threats, the report said.
The authors note that global governance does not mean “world government.” The reason it does not mean a single global governing body is that nations are unlikely to abandon national sovereignty. In addition, there are multiple divergent interests and there continues to be deep-seated concerns about the effectiveness of current international institutions, the report said.
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Life, Liberty, & the Pursuit of Happiness
Tuesday, October 05, 2010
Super-rich investors buy gold by ton | Reuters
Super-rich investors buy gold by ton | Reuters:
"Fears of a double-dip downturn have boosted the appetite for physical bullion as well as for mining company shares and exchange-traded funds, UBS executive Josef Stadler told the Reuters Global Private Banking Summit.
'They don't only buy ETFs or futures; they buy physical gold,' said Stadler, who runs the Swiss bank's services for clients with assets of at least $50 million to invest.
UBS is recommending top-tier clients hold 7-10 percent of their assets in precious metals like gold, which is on course for its tenth consecutive yearly gain and traded at around $1,314.50 an ounce on Monday, near the record level reached last week.
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"Fears of a double-dip downturn have boosted the appetite for physical bullion as well as for mining company shares and exchange-traded funds, UBS executive Josef Stadler told the Reuters Global Private Banking Summit.
'They don't only buy ETFs or futures; they buy physical gold,' said Stadler, who runs the Swiss bank's services for clients with assets of at least $50 million to invest.
UBS is recommending top-tier clients hold 7-10 percent of their assets in precious metals like gold, which is on course for its tenth consecutive yearly gain and traded at around $1,314.50 an ounce on Monday, near the record level reached last week.
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Life, Liberty, & the Pursuit of Happiness
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