Procter & Gamble may have to put the second half of its name in bold in the future or maybe add an exclamation point. Cowboy capitalism threw a lasso around the staid 173 year old household products company on black Thursday, shaving some $62 billion off its market cap at the low point in trading.
The Office of National Drug Control Policy (ONDCP) today announced its 2010 national drug control strategy. The strategy, while increasing resources for treatment and prevention, raises concerns by continuing the government’s focus on enforcement of current policies that are ineffective, costly and potentially threatening to civil liberties.
WASHINGTON (Reuters) - The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.
Abc40 meteorologist Eric Fisher said the mercury dropped to 26 degrees at about 5 a.m., beating the previous record for the chilliest May 11 set back in 1962. Temperatures dipped into the 20s just about everywhere in Western Massachusetts Fisher said.
BP, the UK-based energy company, has begun lowering a second containment box into the Gulf of Mexico in another bid to stop a weeks-long oil spill. Ken Salazar, the US interior secretary, said it will be clear by Saturday whether or not the box worked. The first containment box was lowered onto the Deepwater Horizon oil rig last week, but small ice-like crystals formed insideof it. The build-up of crystals made the box too buoyant to stay in place.
Withdrawal of first large phase of combat troops likely to be delayed for at least a month due to Iraq's instability. The White House is likely to delay the withdrawal of the first large phase of combat troops from Iraq for at least a month after escalating bloodshed and political instability in the country.
Despite the pronouncements by the Obama administration and the news media of a supposed economic recovery, unemployment, and particularly long-term joblessness, continues to inflict immense suffering on tens of millions of workers and their families in the US. At present some 15 million workers are officially unemployed, including one out of every five men between the ages of 25 and 54.
Rick Steiner, a former professor of Marine Conservation at the University of Alaska, told the World Socialist Web Site that lack of regulation was responsible for the Deepwater Horizon oil spill. He sharply criticized the response of the Obama administration, saying that its energy policy was identical to that of the Bush administration.
The European Union and the International Monetary Fund have approved a nearly $1 trillion package to stop Greece’s debt crisis from spilling beyond its borders into the rest of the eurozone. Stocks surged in Europe, Asia and the United States Monday after EU leaders agreed to a $960 billion package to contain Greece’s financial troubles. Meanwhile, the austerity measures demanded by the IMF and the European Union as a condition of their loan are continuing to exact their toll. Greece’s two main unions have continued to hold protests against the reforms. In a statement, one of the unions said, “The crisis should be paid by…all those who looted public finances.” Last week nearly 100,000 people participated in a mass demonstration and a twenty-four-hour general strike against the austerity measures. [includes rush transcript]
Toxic and carcinogenic metals, able to produce genetic mutations, have been found in the tissues of people wounded in Gaza during Israeli military operations of 2006 and 2009. The research has been carried out on wounds provoked by weapons that did not leave fragments in the bodies of the victims, a peculiarity that was pointed out repeatedly by doctors in Gaza. This shows that experimental weapons, whose effects are still to be assessed, were used.
The United States has made it clear to Russia that delivering an anti-aircraft system to Iran would have severe consequences for U.S. ties with Moscow, a senior advisor to President Obama said Tuesday.
Many people have remarked on Kagan's unfitness for the job. Not only has she never been a judge; she hasn't even been an attorney! Like Barrack, her academic career is notable for a lack of publications. Like Obama, her qualifications consist of her usefulness to the cult. She supports massive government censorship of TV, press and Internet. She is prepared to use the law to silence "hate speech" i.e. opposition to "diversity" (i.e. the advancement of homosexual values and "minority" rights.)
Financial lobbyists here in the U.S. are using the Greek crisis as an object lesson to warn about the need to cut back public spending on Social Security and Medicare. This is the opposite of what the Greek demonstrators are demanding: to reverse the global tax shift off property and finance onto labor, and to give labor’s financial claims for retirement pensions priority over claims by the banks to get fully paid on hundreds of billions of dollars of recklessly bad loans recently reduced to junk status.
Senators are set to take a last run at producing a climate and energy law tomorrow, betting on the spectre of environmental disaster raised by the BP oil spill to build support for a comprehensive overhaul of America's energy strategy.
The Greek general strike and continuing mass protests against the European-IMF austerity package negotiated last week with Prime Minister George Papandreou, of the social-democratic PASOK party, are a sign of coming class struggles in Europe and around the world. There is bitter opposition among Greek workers to Papandreou’s policy. Hundreds of thousands of jobs are to be cut, workers will take initial pay cuts of 20 percent or more, and social services and pensions are to be gutted.
As oil from the Deepwater Horizon spill made landfall at the mouth of the Mississippi river, local fishermen and environmental experts spoke out on BP's response to the disaster, which threatens ecological and economic disaster throughout the region.
BP officials desperately searched Monday for a new fix to the enormous Gulf of Mexico oil spill after efforts to cap a gushing leak with a containment dome hit a perilous snag. British energy giant BP, which owns the lion's share of the leaking oil and has accepted responsibility for the clean-up, is facing the jaw-dropping possibility that, failing a swift fix it has yet to deliver with a containment dome, the crisis could spiral into an even worse environmental calamity.
Even the world's most savvy stock-market giants (e.g., Warren E. Buffett) have warned over the past decade that derivatives are the fiscal equivalent of a weapon of mass destruction (WMD) - potentially lethal. And the consequences of such an explosion would make the recent global financial and economic crisis seem like penny ante. But generously lubricated lobbyists for the unrestricted, unsupervised derivatives markets tell congressional committees and government regulators to butt out.
A major fire broke out in one of the storages designated for storing goods imported by Gaza’s merchants from Israel, which is located in "Mashav Shova" inside Israeli territory today. The Chairman of the goods entry into Gaza Committee, Raed Fattouh, confirmed that the storage, which is located between “Carney” and “Kerem Abu Salem” commercial crossings, is on fire now pointing out that this big storage is filled with goods bought by Palestinian merchants in Gaza, in the forms of food; oil, cars, shoes, clothing and aluminum.
"There is immense anger as well as a feeling of vulnerability and fear when a place of sanctuary and holiness is subject to indiscriminate violence," says Issa Hussein. "Despite living under a brutal military occupation and being subjected to regular attacks by Israeli settlers for decades, normally places of worship were spared," Hussein, a spokesman from this Palestinian village, near Nablus, in the northern West Bank, told IPS. "People could forget about the economic hardship, the political oppression and their personal problems for a few hours a week as they retreated to pray in the mosque."
Filipinos are voting for more than 17,000 candidates to represent them in public office. The long election campaign has highlighted the large gap between the rich and poor in the country, as a small elite controls most of the money.
Reports about the massive Gulf of Mexico oil spill have been largely underestimated, according to commentators, including Paul Noel, a Software Engineer for the U.S. Army at Redstone Arsenal in Alabama. He believes that the pocket of oil that's been hit is so powerful and under so much pressure that it may be virtually impossible to contain it. And Noel is not the only person questioning the scope of this disaster.
The Israeli far-left Peace Now organization revealed the news of building in settlement in Ras Al-Amoud neighborhood in Jerusalem.
When Charlie Company's Lt. William Calley ordered and encouraged his men to rape, maim and slaughter over 400 men, women and children in My Lai in Vietnam back in 1968, there were at least four heroes who tried to stop him or bring him and higher officers to justice. One was helicopter pilot Hugh Thompson Jr., who evacuated some of the wounded victims, and who set his chopper down between a group of Vietnamese and Calley's men, ordering his door gunner to open fire on the US soldiers if they shot any more people. One was Ron Ridenhour, a soldier who learned of the massacre and began a private investigation, ultimately reporting the crime to the Pentagon and Congress. One was Michael Bernhardt, a soldier in Charlie Company, who witnessed the whole thing and reported it all to Ridenhour. And one was journalist Seymour Hersh, who broke the story in the US media. Today's war in Afghanistan also has its My Lai massacres...
BP casting aside 70-ton, four-story containment dome, may try a smaller version Concern grew Sunday that the US Gulf coast is facing a whole new level of environmental disaster after the best short-term fix for a massive oil spill ran into serious trouble. BP's giant containment box lay idle on the seabed as engineers furiously tried to figure out how to stop it clogging with ice crystals.
What happened that fateful night was brought to the world thanks to the presence of an amateur videographer, who captured Cobane kicking an innocent man in the face as he lay face down on the concrete. The robbery suspect was reportedly Hispanic. Facing their Hispanic male suspect who lay compliant on the ground, Cobane screamed: "I'm going to beat the fucking Mexican piss out of you homey. You feel me?"
Buffett has taken to defending the biggest shysters in the country and argues that his own questionable derivatives should be shielded. The derivatives genie is now well out of the bottle, and these instruments will almost certainly multiply in variety and number until some event makes their toxicity clear. Central banks and governments have so far found no effective way to control, or even monitor, the risks posed by these contracts. In my view, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal.
A scene in Claude Berri’s fine 1993 film Germinal captures the essence of it all. French coal miners, circa 1880s, are enduring bleak conditions. They have no union, so a group of them ask to speak to the mine owner at his manor house. This one scene reveals the extent of a certain mindset of that day , and of now . The workers enter the study of the boss. He is seated at his desk as the group enters. They take their hats off and, to a man, seem to lower their heads in his presence. Ce le vie!
A draconian bill proposed by the independent senator would open a Pandora's box of civil liberties issues. If you assume that one of the main aims of terrorists is to use fear to force Americans to change their open society, then the attack, allegedy carried out by Faisal Shahzad, succeeded perfectly well. It took only a few days after the bomb was discovered for independent Connecticut senator Joe Lieberman to propose a draconian new law that would strip US citizenship from anyone linked to foreign terrorists. His move was swiftly backed by leading Republicans.
The Federal Reserve has announced that it will re-establish the temporary U.S. dollar liquidity swap facilities with the Bank of Canada, the Bank of England, the European Central Bank (ECB), and the Swiss National Bank that it first implemented in the early part of the financial crisis. Further details on these arrangements will be available shortly. It appears, though, that for all practical purposes, the Fed has agreed to bailout the world.
An extraordinary account of how the Deepwater Horizon disaster occurred emerged yesterday in leaked interviews with surviving workers from the rig. They said that a methane gas bubble had formed, rocketed to the surface and caused a series of fires and explosions which destroyed the rig and began the gushing of millions of gallons of oil into the Gulf of Mexico, threatening wildlife and coastal livelihoods. Oil-covered birds caught by the outer edges of the 135-mile slick are now being found.
United States President Barack Obama has lost nearly half of his support among American Jews, a poll by the McLaughlin Group has shown. The US Jews polled were asked whether they would: (a) vote to re-elect Obama, or (b) consider voting for someone else. 42% said they would vote for Obama and 46%, a plurality, preferred the second answer. 12% said they did not know or refused to answer.
The explosion on the BP oil rig Deepwater Horizon on April 20 off Louisiana’s coast, which took the lives of 11 workers and has resulted in a massive oil slick that threatens economic and environmental ruin for the Gulf Coast, stands as a powerful exposure of American capitalism. Each day brings new revelations that federal regulators under both the Bush and Obama administrations aided and abetted BP and the oil industry as they disregarded safety and environmental precautions that might have prevented the disaster.
Despite the Greek parliament’s approval of drastic austerity measures, fears that the country’s economic crisis will deepen and spread to other nations continued to drive down international markets Friday. The panic selling that saw the Dow Jones Industrial Average plummet by nearly 1,000 points, or about nine percent—a steeper drop than even in the wake of the Lehman Brothers collapse in 2008—continued to reverberate around the world, hitting markets in Asia and Europe and leaving share prices on the New York Stock Exchange down again on Friday.
This is one of my favorite quotes from Albert Memmi. And it must be read several times...slowly, carefully.... "Racism does not limit itself to biology or economics or psychology or metaphysics; it attacks along many fronts and in many forms, deploying whatever is at hand, and even what is not, inventing when the need arises." (Albert Memmi, Racism)
The deadly blowout of an oil rig in the Gulf of Mexico was triggered by a bubble of methane gas that escaped from the well and shot up the drill column, expanding quickly as it burst through several seals and barriers before exploding, according to interviews with rig workers conducted during BP's internal investigation.
There's more war in America's future - a great deal more, judging by the Barack Obama administration's reports, pronouncements and actions in recent months.
Neither is a signatory to the Nuclear Non-Proliferation Treaty (NPT), and both employ their nuclear weapons in elaborate games of peek-a-boo with the international community. Israel and North Korea are equally paranoid about outsiders conspiring to destroy their states, and this paranoia isn’t without some justification.
Regulators on Friday shut down banks in Florida, Minnesota, Arizona and California, bringing the number of U.S. bank failures to 68 this year. The Federal Deposit Insurance Corp. took over The Bank of Bonifay, based in Bonifay, Fla., which had $242.9 million in assets and $230.2 million in deposits; and Access Bank, in Champlin, Minn., with $32 million in assets and $32 million in deposits.
On Thursday, pretrial hearings continued in the case of Canadian Omar Khadr, who has spent a third of his life in U.S. detention since he was captured at age 15. Though the Obama administration has claimed it intends to erase the taint of torture and abuse from the Bush-era Guantánamo military commissions, the government is trying to use evidence coerced out of the teenage boy in an illegitimate trial eight years later.
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