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As incoming President Barack Obama ponders economic-bailout plans in the Oval Office, some pretty heavy action will be taking place in the private quarters of the White House, too.
Malia and Sasha Obama, ages 10 and 7, respectively, are the youngest children to inhabit the White House in decades. And they will be facing some seismic challenges of their own, in child-development terms. The Obama girls will pass from childhood into the upheaval of the pre-teen and early teenage years in a venue that past presidential kid Luci Johnson termed a “museum, a public fishbowl and a prison.”
The loss of privacy, continuity and constancy imposed by their move to the White House — coupled with the monumental new opportunities it offers — will have a huge impact on the Obama children’s sense of identity and competence at a critical stage, child-development experts say. While the glare of the spotlight has burned some presidential kids, others have emerged unscathed and strong. A look at the risks and rewards, based on research and past examples, holds lessons for any parent raising children under unusual stress.
Malia and Sasha are facing some core “developmental tasks,” in child-development parlance: the need to build their own sense of personal identity, or their concept of who they are in relation to others and the world at large, and their belief in their competence as individuals. These growth stages must be accomplished in an ever-widening context of friendships, school, the neighborhood and the world at large.
The Obamas, child-development experts say, seem to be a picture of health, based on the deep affection and easy communication family members displayed last July in their only video interview together. Mr. Obama and his wife, Michelle, have vowed to hold life as steady as possible for the girls, and are taking grandmother Marian Robinson to Washington to help.
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Jokes: Bush went in as a Social Conservative and came out as a Conservative Socialist.
There are two problems here – one is the folding banking industry around the world – and the other is that the weakened banking industry would allow – outsiders and mainly sovereign wealth funds to come in a cherry pick the banks and or industries that they want at rock bottom prices – these very powerful sovereign funds are mainly coming from three areas – the Middle East, Russia and China. Their investments at a time like this would give these areas undue influence over US and EU banking and insurance industries – but more their investments will give these countries or regions undue influence over US and possibly EU policy. With undue Middle East influence we could all be eating Halal. Western governments had to act.
To blame – of course are a number of things – but one is George Bush’s oil policy. Since the US only has 3% of the world’s oil – to fund its oil usage – it has to get oil from somewhere else. Saudi Arabia held almost all of the cards up until the war in Iraq – and the removal of Saddam Hussein – allowed the US create a major oil player in Iraq. But the cost was enormous. Yesterday 40bn barrel Iraqi oil contracts were put on sale in London. Drill Baby Drill to Big Oil. The problem is that the cost of the war could have funded the industry to build solar panels for every roof – in sunnier areas. And the new research in a whole host of energy alternatives – which would one day become fixtures – or until we develop the new technology.
If you listen to McCain – and Palin – Russia is ready to attack – but the real deal is the laying and operation of a gas pipeline through Georgia. So like Iraq – likely there will be a military build up there – against the evil Russia – to secure the oil or gas coming from there.
Under Bush’s policy vast amounts of money is being transferred to the Middle East – vast amounts of money is going into wars for oil – under “security” – Condi recently had a meeting with the Libyan leader – with the intention of vast amounts of US money flowing into Libya.
While in the US infrastructure crumbles, while the people in the Western world are at the whim of dictators – like Chavez, or Russia which clearly is putting its interests first. And in the Middle East – which showed itself when George Bush didn’t speak at the Israeli Kenesit – as the German Chancellor Angela Merkel did- because – he had to ask the Saudi’s to lower the price of oil – and as a part of that deal – he slung them some nuclear technology.
The oil game is a crazy game and it is leaving the US broke and at a disadvantage. The advantage and the money are in new generation of ET energy technology – one where for example cars are run on magnetism (magnetic motor) – and more efficient battery technologies. What would it mean to the US and EU countries – if they could get a mechanized factory – a factory of robots – to work around the clock without having to take into account the cost of energy. With this we can compete with China. There would be no need to ship jobs abroad.
The candidate with real foresight is Barack Obama. He’s thinking.
The U.S. government is dramatically escalating its response to the financial crisis by planning to invest $250 billion in the country’s banks, forcing nine of the largest to accept a Treasury stake in what amounts to a partial nationalization.
News that European governments also planned to take stakes in their banks and anticipation of new U.S. measures unleashed a tremendous surge in U.S. stock prices yesterday, with the Dow Jones industrial average soaring to the biggest percentage gain since the 1930s, up 11.1 percent. It ended 936.42 points higher, the largest point gain ever, just days after the Dow had its steepest weekly decline in history.
The Treasury Department’s decision to take equity stakes in banks represents a significant reversal, coming just weeks after Treasury Secretary Henry M. Paulson Jr. had opposed the idea. In a momentous meeting yesterday afternoon in Washington, Paulson, flanked by top financial regulators, told the executives of nine leading banks that they needed to participate in the program for the good of the national economy, two industry sources said on condition of anonymity because they were not authorized to speak publicly.
The government’s initiative, which was to be announced this morning before the markets open for New York trading, is part of a wider plan that goes beyond the $700 billion rescue package approved by Congress earlier this month. The Federal Deposit Insurance Corp. is also set to announce today the launch of an insurance fund to guarantee new issues of bank debt. It will provide unlimited deposit insurance for non-interest-bearing accounts, which are widely used by small businesses for payroll and other purposes.
In pressing the bank executives to accept partial government ownership, Paulson’s message was clear: Though officially the program was voluntary, the banks had little choice in the matter. In exchange for giving the Treasury minority stakes, the nine firms would jointly receive an investment worth $125 billion. The government would make another $125 billion available for the next 30 days to thousands of other banks and thrifts across the country.
Federal officials set conditions, telling the banks they could not raise their dividends without government permission and could not offer their executives new retirement packages, though the old packages would remain intact.
Paulson told them the moves would shore up confidence in their own institutions, spark lending throughout the system and send a message to smaller institutions that there is no stigma in accepting federal funding. Though some were reluctant, all of the executives complied.
There is a risk that banks will take the new government capital and use it to bolster their balance sheets but still not resume lending, and the Treasury is not getting any specific contractual guarantee to prevent that from happening. But bank regulators, particularly the Federal Reserve, will lean heavily on the firms receiving infusions to use the capital to increase their lending to businesses and consumers.
Taken together, the steps planned by the Treasury, the FDIC and the Federal Reserve amount to a monumental effort to jump-start the business of lending, which all but dried up in recent weeks as banks have lost faith in one another and their customers. Global markets began to melt down. Some emerging nations teetered on the brink of financial collapse.
Source: Washington Post
The first Presidential Debate kitted off tonight between Sen. John McCain and Sen. Barack Obama.
A skilled Barack Obama held his own – against the more experienced but narrowly focused McCain.
McCain attempted to use his campaign stump – condescending phrases to outline his superior judgment on matters – but found it very difficult to undercut Obama’s steady focus and confidence.
McCain looked authoritarian at times – and almost fossilized – age can be accounted here – though it is more John McCain’s frame of mind – which could seem frozen in the past. Particularly when McCain says he looked into Russia leader Putin’s eyes and he saw three things K G B – then quickly added that he doesn’t think we should go back to the cold war – which is not what he said in his speech – at the GOP Convention.
Barack Obama called it – looking at it through the prism – of Iraq – and then he broadened that and said that we need to have wider diplomatic focus – as for example China is now beating the US at their own game.
While McCain talked about – utilizing allies in Europe for war – and if like Spain there is some difference (over Iraq) – he is prepared to cast them aside – even a NATO ally – Barack Obama talked about bringing in European allies together to negotiate – with thugs for example in Iran – and if America needs to attack – then it comes down to a consensus – and the US military doesn’t have to virtually go it alone – but more – Barack Obama believes respecting our allies – and something he has talked about before – on hearing their allies concerns – and taking those into account as a part of US foreign policy.
When the US goes it alone – and it appears that no one else can have any input – then you end up with situations like the already suspicious Russia becoming aggravated – and then worst – the new alliances which form out of that aggravation – such as the partnerships with Venezuela – and the lack of full support on Iran by Russia.
America with all its military capability can’t come off looking like the aggressor. With the either you’re for us or you are against us – black and white US diplomacy – which McCain still holds on to with regards to Spain – you can’t build allies – you are going to make enemies anyway – there is little that can be done to please the Iranian leader or satisfy Hugo Chavez – but building as broad a base of allies can’t be overlooked. In addition it restores America’s image in the world as it comes across looking fairer – with the added benefit of more people sharing a similar view.
Obama sees a chance to use America’s influence – not only as a police force – around the world – (and I might add concentrating only on those areas which have to do with oil and gas) – but to extend America’s influence by seeing more investment in improving people’s everyday lives – like in areas of education so that more children have the chance to go to school (and the eradication of malaria in places like Africa) – around the world.
Here’s Obama undoing McCain’s bluff-it style – where he uses his age to promote confidence in is judgment even though he could be completely wrong – Obama should be wary of McCain’s over confidence – where he appears to have it under control – likely he doesn’t – as Obama showed in the following clip.
John McCain confidence on issues – belies his lack of foresight – Obama takes advantage