All eyes are on Geneva on Monday (21 July) as world trade talks open in a last-ditch attempt at reaching a global agreement some seven years after discussions were launched. European Commission President Jose Manuel Barroso, in a statement released on Sunday night as trade ministers from 30 nations met for dinner in the Swiss city ahead of the negotiations, called the talks the "last great opportunity" for a deal, and called on the third world to make greater concessions. Mr Sarkozy (r) has a different opinion on trade talks to the commission "For those negotiations to succeed, the other developed countries and the emerging economies in the WTO also have to make a major contribution," he said. "Europe cannot be the sole banker of this deal," he added. "Moreover, Doha is not just about agriculture -- we also need to make progress on industrial tariffs, and in other areas of the negotiations such as services and geographical indications."
All eyes are on Geneva on Monday (21 July) as world trade talks open in a last-ditch attempt at reaching a global agreement some seven years after discussions were launched.
European Commission President Jose Manuel Barroso, in a statement released on Sunday night as trade ministers from 30 nations met for dinner in the Swiss city ahead of the negotiations, called the talks the "last great opportunity" for a deal, and called on the third world to make greater concessions.
Mr Sarkozy (r) has a different opinion on trade talks to the commission
"For those negotiations to succeed, the other developed countries and the emerging economies in the WTO also have to make a major contribution," he said.
"Europe cannot be the sole banker of this deal," he added. "Moreover, Doha is not just about agriculture -- we also need to make progress on industrial tariffs, and in other areas of the negotiations such as services and geographical indications."
"Desperate to clinch a new global trade deal, World Trade Organization chief Pascal Lamy is planning to convene a "mini-ministerial" meeting in the third week of July. The aim of the meeting is to come up with agreements to liberalize trade in agriculture, industry, and services. <...> Insistence on Services <...> While financial services are just one of many services covered by GATS, the United States and EU have made a liberalized financial sector their main demand on developing countries. It has been revealed, for instance, that the EU has demanded that some developing countries eliminate regulations that cover the activities of hedge funds, the financial groupings that are said to have triggered the collapse of the baht in 1997. The EU has also demanded that Mexico open up its market to trade in derivatives, the slippery financial instruments that have played such a key role in the current financial chaos".
Insistence on Services
<...>
While financial services are just one of many services covered by GATS, the United States and EU have made a liberalized financial sector their main demand on developing countries. It has been revealed, for instance, that the EU has demanded that some developing countries eliminate regulations that cover the activities of hedge funds, the financial groupings that are said to have triggered the collapse of the baht in 1997. The EU has also demanded that Mexico open up its market to trade in derivatives, the slippery financial instruments that have played such a key role in the current financial chaos".
No stone unturned. .
The fate of India's coalition Government and its historic nuclear deal with the United States was hanging in the balance today as parliament began a debate that will culminate in a no-confidence vote tomorrow. While government and opposition leaders made impassioned speeches before a packed Lok Sabha -- the lower house of the Indian parliament -- backroom dealing reached fever pitch as both sides struggled to make up numbers for the vote. So close are their tallies -- and so high the stakes -- that the Government has temporarily released six MPs who are in jail for crimes including murder and extortion, and the Opposition is flying in two MPs who are recovering from surgery in hospital. If the Congress Party and its allies in the ruling coalition lose, the Government will collapse, triggering a snap election as soon as November that could bring the Hindu nationalist Bharatiya Janata Party (BJP) back to power.
The fate of India's coalition Government and its historic nuclear deal with the United States was hanging in the balance today as parliament began a debate that will culminate in a no-confidence vote tomorrow.
While government and opposition leaders made impassioned speeches before a packed Lok Sabha -- the lower house of the Indian parliament -- backroom dealing reached fever pitch as both sides struggled to make up numbers for the vote.
So close are their tallies -- and so high the stakes -- that the Government has temporarily released six MPs who are in jail for crimes including murder and extortion, and the Opposition is flying in two MPs who are recovering from surgery in hospital.
If the Congress Party and its allies in the ruling coalition lose, the Government will collapse, triggering a snap election as soon as November that could bring the Hindu nationalist Bharatiya Janata Party (BJP) back to power.
The Indian government may collapse as the country's politicians gather to debate a vote of confidence over a civilian nuclear deal with the US.Manmohan Singh, the prime minister, was forced to call the vote on Monday after his left-wing and communist allies withdrew their support for the Congress party-led coalition in protest over the nuclear deal, which they fear will draw their country closer to the US. India is widely considered a "non-aligned" country.Analysts say the vote, to be held on Tuesday, is too close to call.
The Indian government may collapse as the country's politicians gather to debate a vote of confidence over a civilian nuclear deal with the US.Manmohan Singh, the prime minister, was forced to call the vote on Monday after his left-wing and communist allies withdrew their support for the Congress party-led coalition in protest over the nuclear deal, which they fear will draw their country closer to the US.
India is widely considered a "non-aligned" country.Analysts say the vote, to be held on Tuesday, is too close to call.
US forces shot dead the 17-year-old son and another relative of the governor of northern Iraq's Salahuddin province in a raid today, local officials said. The US military said it shot two armed men and later found out they were both related to the governor. Governor Hamad al-Qaisi's brother, Lieutenant-Colonel Saad al-Qaisi, said American troops stormed a family house in the town of Beiji, where the governor's son Hussam and his cousin were staying.
US forces shot dead the 17-year-old son and another relative of the governor of northern Iraq's Salahuddin province in a raid today, local officials said.
The US military said it shot two armed men and later found out they were both related to the governor.
Governor Hamad al-Qaisi's brother, Lieutenant-Colonel Saad al-Qaisi, said American troops stormed a family house in the town of Beiji, where the governor's son Hussam and his cousin were staying.
Another perspective:
Today forces of the Iraqi Freedom Army in America admitted killing the son of ex-governor Mitt Romney. "He was known to associate with targeted terrorists, and used the family as cover," spoke the IFA spokesspook. Friends of the family reported they were just playing blackjack. "Life shrinks or expands in proportion to one's courage." - Anaïs Nin
Poll: GOP Sen. Ted Stevens Down By Eight In Re-Election Bid By Eric Kleefeld - July 21, 2008, 3:31PM A new Rasmussen poll of Alaska has some big news: Democratic candidate for Senate Mark Begich now leads long-time incumbent Republican Ted Stevens by a margin of 52%-44%, in a deep-red state that hasn't sent a Dem to Congress since 1974. Stevens has been easily re-elected since he was first appointed to his seat in the late 1960s, but his many ethics scandals have slowly but surely dragged his popularity down. He now has only a 50% approval rating to a nearly-identical 48% unfavorable rating, compared to Begich's 63%-34% favorables. In short, Republicans could be on track to lose this seat unless something drastic happens.
A new Rasmussen poll of Alaska has some big news: Democratic candidate for Senate Mark Begich now leads long-time incumbent Republican Ted Stevens by a margin of 52%-44%, in a deep-red state that hasn't sent a Dem to Congress since 1974.
Stevens has been easily re-elected since he was first appointed to his seat in the late 1960s, but his many ethics scandals have slowly but surely dragged his popularity down. He now has only a 50% approval rating to a nearly-identical 48% unfavorable rating, compared to Begich's 63%-34% favorables.
In short, Republicans could be on track to lose this seat unless something drastic happens.
And the Hits just KEEP ON COMING! As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
Interview with Robert Mabro
should raise a few hackles here. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
So, it's irrelevant unless you are thinking 40 or 50 years ahead. But I will certainly be dead by then...
His most coherent argument. In the long run, we're all dead. John Maynard Keynes
...as it duly did. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Some other people would say that oil, along with wheat and some metals, remains more attractive than other investments in the financial markets. And we know that the people who lead these markets are financial institutions, the banks and the hedge funds. They are the leaders. So the paradox is that, consciously or unconsciously, the determination of the oil price has gone away from the producers to the financial sector. It went away from the oil people to the non-oil people. So is there anything that could stop the oil price from rising in the coming year? Yes, of course. A bubble has formed. We know one thing about bubbles, and that is that they burst. When, I don't know. It could be tomorrow, it could be in four years' time. -skip- My argument is that the futures market for oil is only partly an oil market, because it is also a financial market. People buy and sell a financial instrument, which is called a futures contract.
So is there anything that could stop the oil price from rising in the coming year?
Yes, of course. A bubble has formed. We know one thing about bubbles, and that is that they burst. When, I don't know. It could be tomorrow, it could be in four years' time.
-skip-
My argument is that the futures market for oil is only partly an oil market, because it is also a financial market. People buy and sell a financial instrument, which is called a futures contract.
Seems to me like an argument for placing limits on "investment" by retirement funds in commodities such as oil and wheat. As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
Seems to me like an argument for placing limits on "investment" by retirement funds in commodities such as oil and wheat.
it would be if it were correct, which it is not. In the long run, we're all dead. John Maynard Keynes
t would be if it were correct, which it is not.
Certainly participation in the futures markets by investors/ speculators has no effect on market prices.
So the US politicians/regulators in particular are barking up the wrong tree IMHO.
But I don't see how you are able to categorically rule out a bubble element via the OTC market, whether through structured finance or otherwise.
No-one knows, because the mechanisms fo find out simply do not exist.
"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
The United States security coordinator for the Israeli-Palestinian conflict, retired general James Jones, is preparing an extremely critical report of Israel's policies in the territories and its attitude toward the Palestinian Authority's security services. A few copies of the report's executive summary (or, according to some sources, a draft of it) have been given to senior Bush Administration officials, and it is reportedly arousing considerable discomfort. In recent weeks, the administration has been debating whether to allow Jones to publish his full report, or whether to tell him to shelve it and make do with the summary, given the approaching end of President George Bush's term.
A few copies of the report's executive summary (or, according to some sources, a draft of it) have been given to senior Bush Administration officials, and it is reportedly arousing considerable discomfort. In recent weeks, the administration has been debating whether to allow Jones to publish his full report, or whether to tell him to shelve it and make do with the summary, given the approaching end of President George Bush's term.
