Friday, September 19, 2008
Greenspan: This Is The Worst I Have Ever Seen
Former Federal Reserve Chairman Alan Greenspan offered a woeful outlook of America's economic situation on Sunday, saying the crisis with the country's financial institutions was as dire as he had ever seen in his long career, and predicting that one or more of those institutions would likely collapse in the near future. "Oh, by far," Greenspan said, when asked if the situation was the worst he had seen in his career. "There's no question that this is in the process of outstripping anything I've seen and it still is not resolved and still has a way to go and, indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes. That will induce a series of events around the globe which will stabilize the system."
U.S. Arms Sales Jump
The Bush administration is pushing through a broad array of foreign weapons deals as it seeks to rearm Iraq and Afghanistan, contain North Korea and Iran, and solidify ties with onetime Russian allies.From tanks, helicopters and fighter jets to missiles, remotely piloted aircraft and even warships, the Department of Defense has agreed so far this fiscal year to sell or transfer more than $32 billion in weapons and other military equipment to foreign governments, compared with $12 billion in 2005. The trend, which started in 2006, is most pronounced in the Middle East, but it reaches into northern Africa, Asia, Latin America, Europe and even Canada, through dozens of deals that senior Bush administration officials say they are confident will both tighten military alliances and combat terrorism.
Sunday, September 14, 2008
World Wants Obama As President
US Democratic presidential candidate Barack Obama may be struggling to nudge ahead of his Republican rival in polls at home, but people across the world want him in the White House, a BBC poll said. All 22 countries covered in the poll would prefer to see Senator Obama elected US president ahead of Republican John McCain. In 17 of the 22 nations, people expect relations between the US and the rest of the world to improve if Senator Obama wins. More than 22,000 people were questioned by pollster GlobeScan in countries ranging from Australia to India and across Africa, Europe and South America. The margin in favour of Senator Obama ranged from 9 per cent in India to 82 per cent in Kenya, while an average of 49 per cent across the 22 countries preferred Senator Obama compared with 12 per cent preferring Senator McCain. Some four in 10 did not take a view.
UN Says Eat Less Meat To Curb Global Warming
People should have one meat-free day a week if they want to make a personal and effective sacrifice that would help tackle climate change, the world's leading authority on global warming has told The Observer Dr Rajendra Pachauri, chair of the United Nations Intergovernmental Panel on Climate Change, which last year earned a joint share of the Nobel Peace Prize, said that people should then go on to reduce their meat consumption even further. His comments are the most controversial advice yet provided by the panel on how individuals can help tackle global warning.
Lehman Brothers Fights For Survival
The law of the financial jungle has all but accounted for one of Wall Street's biggest beasts, the investment bank Lehman Brothers. Its chief executive Dick Fuld has been desperately looking for a buyer over the weekend, write Louise Armitstead and James Quinn in New York