BEIJING: The Chinese government confirmed Wednesday what journalists arriving at the lavishly outfitted media center here had suspected: Contrary to previous assurances by Olympic and government officials, the Internet would be censored during the upcoming games. Since the Olympic Village press center opened Friday, reporters have been unable to access scores of Web pages - politically sensitive ones that discuss Tibetan succession, Taiwanese independence, the violent crackdown of the protests in Tiananmen Square and the sites of Amnesty International, Radio Free Asia and several Hong Kong newspapers known for their freewheeling political discourse. On Wednesday - two weeks after its most recent proclamation of an uncensored Internet during the Summer Games - the International Olympic Committee quietly agreed to some of the limitations, according to Kevan Gosper, chairman of the IOC press commission, Reuters reported. Gosper said that he regretted the limitations but that "IOC officials negotiated with the Chinese that some sensitive sites would be blocked on the basis they were not considered Games related."
BEIJING: The Chinese government confirmed Wednesday what journalists arriving at the lavishly outfitted media center here had suspected: Contrary to previous assurances by Olympic and government officials, the Internet would be censored during the upcoming games.
Since the Olympic Village press center opened Friday, reporters have been unable to access scores of Web pages - politically sensitive ones that discuss Tibetan succession, Taiwanese independence, the violent crackdown of the protests in Tiananmen Square and the sites of Amnesty International, Radio Free Asia and several Hong Kong newspapers known for their freewheeling political discourse.
On Wednesday - two weeks after its most recent proclamation of an uncensored Internet during the Summer Games - the International Olympic Committee quietly agreed to some of the limitations, according to Kevan Gosper, chairman of the IOC press commission, Reuters reported.
Gosper said that he regretted the limitations but that "IOC officials negotiated with the Chinese that some sensitive sites would be blocked on the basis they were not considered Games related."
(Sarkozy will be in Beijing next week, but Le Monde's big headline today is about the crackdown on human rights in China ahead of the games.) In the long run, we're all dead. John Maynard Keynes
Global trade talks have collapsed as divisions between the US and India over emergency protections for poor farmers proved insurmountable. The so-called Doha Round of World Trade Organisation talks, which had limped into their second week of what had widely been described as "gruelling" negotiations, were derailed late on Tuesday (29 July) due to disagreement between the US and China and India over a "special safeguard mechanism" that would allow developing countries to temporarily protect their farmers from sudden surges in imports by raising tariffs. Trade commissioner Mandelson called the collapse 'heart-breaking' The US blamed the two countries for rejecting a compromise on the mechanism devised by WTO secretary-general Pascal Lamy and further developed by negotiators over the weekend. The special safeguard mechanism has long been a key demand of the G33, a group of developing countries including China, India, Nigeria, Indonesia and Turkey.
Global trade talks have collapsed as divisions between the US and India over emergency protections for poor farmers proved insurmountable.
The so-called Doha Round of World Trade Organisation talks, which had limped into their second week of what had widely been described as "gruelling" negotiations, were derailed late on Tuesday (29 July) due to disagreement between the US and China and India over a "special safeguard mechanism" that would allow developing countries to temporarily protect their farmers from sudden surges in imports by raising tariffs.
Trade commissioner Mandelson called the collapse 'heart-breaking'
The US blamed the two countries for rejecting a compromise on the mechanism devised by WTO secretary-general Pascal Lamy and further developed by negotiators over the weekend.
The special safeguard mechanism has long been a key demand of the G33, a group of developing countries including China, India, Nigeria, Indonesia and Turkey.
Let's party. Champagne anyone ?? keep to the Fen Causeway
... While Beijing has taken some measures to ease the burden on local farmers by reducing taxes, the imbalance still worries leaders such as President Hu Jintao and Premier Wen Jiabao, who have talked frequently about the need to boost development in rural areas. "The government faces very serious pressure from farmers," says Wang [Yong, associate professor and director of Peking University's Center for International Political Economy in Beijing]. <...> Unable to compete internationally on the cotton market, cotton farmers in central India, the second-biggest cotton producer after China, have spent a decade falling deeper into debt. According to government estimates, more than 160,000 farmers have killed themselves because of those debts. <...> Preoccupied with their own rural problems, Chinese and Indian policymakers have little sympathy for the U.S. and other countries that subsidize farmers. The Americans, Europeans, and Japanese are "asking weaker countries to dismantle their own protection measures without doing the same in their own countries," says Shi Yinhong, a professor of international relations at People's University in Beijing. "It's a double standard." ...
<...>
Unable to compete internationally on the cotton market, cotton farmers in central India, the second-biggest cotton producer after China, have spent a decade falling deeper into debt. According to government estimates, more than 160,000 farmers have killed themselves because of those debts.
Preoccupied with their own rural problems, Chinese and Indian policymakers have little sympathy for the U.S. and other countries that subsidize farmers. The Americans, Europeans, and Japanese are "asking weaker countries to dismantle their own protection measures without doing the same in their own countries," says Shi Yinhong, a professor of international relations at People's University in Beijing. "It's a double standard." ...
JERUSALEM: Prime Minister Ehud Olmert of Israel, embroiled in a high-profile corruption investigation, announced Wednesday that he would resign his office as soon as his party chose a new leader in September. In a televised public statement made from his official residence in Jerusalem, Olmert said he would not take part in the leadership election for his Kadima Party, opening the way for the next party leader to try to form a new government. "I have decided not to compete in the primaries in Kadima," he said. "I will resign from my role as prime minister to allow a new leader to form a new government efficiently and quickly." Olmert had agreed with the Labor Party, his partner in the coalition, to hold the internal election in September to try to keep the coalition together as the corruption inquiry continued.
JERUSALEM: Prime Minister Ehud Olmert of Israel, embroiled in a high-profile corruption investigation, announced Wednesday that he would resign his office as soon as his party chose a new leader in September.
In a televised public statement made from his official residence in Jerusalem, Olmert said he would not take part in the leadership election for his Kadima Party, opening the way for the next party leader to try to form a new government.
"I have decided not to compete in the primaries in Kadima," he said. "I will resign from my role as prime minister to allow a new leader to form a new government efficiently and quickly."
Olmert had agreed with the Labor Party, his partner in the coalition, to hold the internal election in September to try to keep the coalition together as the corruption inquiry continued.
Ehud Olmert, the Israeli Prime Minister, tonight tearfully announced that he would step down in September, ending months of speculation over whether he could ride out a string of corruption probes. "I have decided I won't run in the Kadima movement primaries, nor do I intend to intervene in the elections," said Mr Olmert, tears glistening in his eyes as he made an impromptu announcement from his Jerusalem office. "I have made mistakes and I regret it," said the 62-year-old, who is also battling prostate cancer. The disclosure is likely to have a juddering effect on the fraught Middle East peace process, since much of the recent progress in talks with the Palestinians had hinged on the close personal bond Mr Olmert had forged with the Palestinian President, Mahmoud Abbas.
Ehud Olmert, the Israeli Prime Minister, tonight tearfully announced that he would step down in September, ending months of speculation over whether he could ride out a string of corruption probes.
"I have decided I won't run in the Kadima movement primaries, nor do I intend to intervene in the elections," said Mr Olmert, tears glistening in his eyes as he made an impromptu announcement from his Jerusalem office.
"I have made mistakes and I regret it," said the 62-year-old, who is also battling prostate cancer.
The disclosure is likely to have a juddering effect on the fraught Middle East peace process, since much of the recent progress in talks with the Palestinians had hinged on the close personal bond Mr Olmert had forged with the Palestinian President, Mahmoud Abbas.
Friday, 25 July 2008 What's up with the covered bond push? -skip- Whenever Henry Paulson at Treasury, Ben Bernanke at the Fed and Shiela Bair at FDIC agree on anything, American taxpayers should check for their wallets to see if they are being mugged.... ....Covered bonds allow for extension of credit to a bank SIV or trust that will be serviced by income from hypothecated assets on the bank's balance sheet. The assets stay on the bank's balance sheet unless there is a default on the bonds, at which time the assets are forfeit as collateral to the trust vehicle servicing the covered bond. Last week the FDIC released a policy statement on covered bonds that provides for "expedited release of collateral" if an issuing bank is taken into FDIC receivership or liquidation. The Treasury is expected to release a protocol on best practices for covered bond issuance in a high profile event next week. Hmmmm. What could be up? If I had to guess, I suspect what we will soon see is something near to the following scenario: Lists will circulate of troubled banks likely to go into FDIC receivership.... Several of the central players in the recent market dramas ... will go strong and aggressive for the covered bond market. They will go around to their list of troubled banks... They will issue covered bonds to these trouble banks against any assets with real, proveable value left on the banks' balance sheets. They will be praised to the heavens by their friends in Washington as providing timely and necessary liquidity to a troubled banking system, proving the efficiency of the free market, bravely bearing the risk of new credit in exchange for troubled bank assets. When the troubled bank nonetheless fails, our golden circle creditors get the good collateral in an expedited release from FDIC under its new policy statement. The FDIC is left with all the toxic waste assets and liability for depositor insurance claims, with no prospect of recovery of any value from the insolvent bank liquidation. -skip- When the FDIC itself becomes insolvent, which it surely must do as this game gets played to its obvious outcome, then the FDIC gets a GSE-style bailout via Treasury finance and the poor taxpayers get reamed again.
....Covered bonds allow for extension of credit to a bank SIV or trust that will be serviced by income from hypothecated assets on the bank's balance sheet. The assets stay on the bank's balance sheet unless there is a default on the bonds, at which time the assets are forfeit as collateral to the trust vehicle servicing the covered bond.
Last week the FDIC released a policy statement on covered bonds that provides for "expedited release of collateral" if an issuing bank is taken into FDIC receivership or liquidation. The Treasury is expected to release a protocol on best practices for covered bond issuance in a high profile event next week. Hmmmm. What could be up?
If I had to guess, I suspect what we will soon see is something near to the following scenario:
Lists will circulate of troubled banks likely to go into FDIC receivership....
Several of the central players in the recent market dramas ... will go strong and aggressive for the covered bond market. They will go around to their list of troubled banks... They will issue covered bonds to these trouble banks against any assets with real, proveable value left on the banks' balance sheets. They will be praised to the heavens by their friends in Washington as providing timely and necessary liquidity to a troubled banking system, proving the efficiency of the free market, bravely bearing the risk of new credit in exchange for troubled bank assets.
When the troubled bank nonetheless fails, our golden circle creditors get the good collateral in an expedited release from FDIC under its new policy statement. The FDIC is left with all the toxic waste assets and liability for depositor insurance claims, with no prospect of recovery of any value from the insolvent bank liquidation.
-skip-
When the FDIC itself becomes insolvent, which it surely must do as this game gets played to its obvious outcome, then the FDIC gets a GSE-style bailout via Treasury finance and the poor taxpayers get reamed again.
But they are safe because they are tightly regulated. Again that word. In the long run, we're all dead. John Maynard Keynes
The FDIC has just issued new procedures insuring that these bonds are quickly released to the servicing agency upon an FDIC seizure of an institution. The bonds will be held by one of these hero institutions who have bravely "rescued" our economy and will cover everything of value remaining on the institutions books. Those will safely go to the bond originator. The FDIC and, eventually, the taxpayer will be left with only toxic and worthless assets. That is the clear import of the post by London Banker. If sanity be culturally normative, then by the norms of this culture I claim insanity.
So for fragile banks, trying to do that might be the kiss of death. But maybe they don't realise it. Hmmm... In the long run, we're all dead. John Maynard Keynes
Last week the FDIC released a policy statement on covered bonds that provides for "expedited release of collateral" if an issuing bank is taken into FDIC receivership or liquidation. The Treasury is expected to release a protocol on best practices for covered bond issuance in a high profile event next week.
A few investment banks would end up with most everything of value from the banks' portfolios rolled into covered bonds, and the assets covering those bonds would fly away to the investment banks issuing the bonds upon the institutions defaults.
No one in Washington will say anything for three reasons.
One: Very few people will pay close enough attention to notice what is happening. It sounds wonky.
Two: If they speak out, they are endangering the contributions from these banks to their re-election campaigns.
Three: They can always say that they didn't expect THIS to happen.
Call me cynical, but that is exactly what I expect. If sanity be culturally normative, then by the norms of this culture I claim insanity.
The folks in this administration seem to view their obligations as being to the members of their own group, not to the nation as a whole.
First it is Helen with the "But the EU, like any government, is supposed to be run for the benenfit of the society as a whole, not just that tiny proportion of the population who are already over-rewarded for their contributions." and now this from Geezer?
What happened to my fellow pithy angry travelers?
Let's see if I can do this?
Whereas recognition of the inherent dignity and of the equal and inalienable rights of all members of the human family is the foundation of freedom, justice and peace in the world, Whereas disregard and contempt for human rights have resulted in barbarous acts which have outraged the conscience of mankind, blah blah blah... ... if man is not to be compelled to have recourse, as a last resort, to rebellion against tyranny and oppression, that human rights should be protected by the rule of law, blah blah blah... All human beings are born free and equal in dignity and rights.They are endowed with reason and conscience and should act towards one another in a spirit of brotherhood.
Whereas disregard and contempt for human rights have resulted in barbarous acts which have outraged the conscience of mankind, blah blah blah...
... if man is not to be compelled to have recourse, as a last resort, to rebellion against tyranny and oppression, that human rights should be protected by the rule of law,
blah blah blah...
All human beings are born free and equal in dignity and rights.They are endowed with reason and conscience and should act towards one another in a spirit of brotherhood.
How did I do? I'm not built for this comedy stuff. I think I need to work on my general patter in my delivery, don't you think? Never underestimate their intelligence, always underestimate their knowledge.
Frank Delaney ~ Ireland
(Let it not be said that we are all cynics on ET!) When locusts move on, they leave nothing behind
I'm not going to need any sweets for lunch or dinner today.
Mark my words, today is the day that we will read that Helen walked outside and a pony was standing there and everyone looked in their mailbox and found tickets to Malta for the next meet-up. Never underestimate their intelligence, always underestimate their knowledge.
Ba dum.
Here's some more
Article 2. Everyone is entitled to all the rights and freedoms set forth in this Declaration, without distinction of any kind, such as race, colour, sex, language, religion, political or other opinion, national or social origin, property, birth or other status. Furthermore, no distinction shall be made on the basis of the political, jurisdictional or international status of the country or territory to which a person belongs, whether it be independent, trust, non-self-governing or under any other limitation of sovereignty.
Everyone is entitled to all the rights and freedoms set forth in this Declaration, without distinction of any kind, such as race, colour, sex, language, religion, political or other opinion, national or social origin, property, birth or other status. Furthermore, no distinction shall be made on the basis of the political, jurisdictional or international status of the country or territory to which a person belongs, whether it be independent, trust, non-self-governing or under any other limitation of sovereignty.
The day after that happened, there was a huge fight for parade permits from the "Thank Odin, Women Are Being Paid As Much As Men" and the "Gay Rights" and the "Roma Are Our Brothers Everywhere" and athe "Papers? We Don't Need No Stinking Papers - Internationalists" groups.
Article 3. Everyone has the right to life, liberty and security of person.
Everyone has the right to life, liberty and security of person.
Going to the chapel and I'm Going to get married So I'm Going to the Chapel and I'm going to get married and Gee the little Chapel in the hills of Afghanistan and I'm going to see my family wiped out.
All together now. Yes; Clap your hands. Kumbia, my Lord....Look at that next slide....Kumbia...
Article 4. No one shall be held in slavery or servitude; slavery and the slave trade shall be prohibited in all their forms.
No one shall be held in slavery or servitude; slavery and the slave trade shall be prohibited in all their forms.
I love that "in all their forms" part, don't you?
By the way, does wikipedia ever get anything right? I don't see any date for when predatory capitalism was outlawed. Chris? Gotta a citation for me?
Article 5. No one shall be subjected to torture or to cruel, inhuman or degrading treatment or punishment.
No one shall be subjected to torture or to cruel, inhuman or degrading treatment or punishment.
There goes that "Be All That You Can Be" campaign. Great, shift that advertising money to the fuel budget and we may be able to get one more war in by the end of the year.
OK; no more comedy. Hurts too much... Never underestimate their intelligence, always underestimate their knowledge.
I thought it was generally accepted under [Helen's Crystal Ball of Doom Technology] that all of my comments come ready-coated in cynicism and sarcasm. keep to the Fen Causeway
Sorry for not having a "lighter touch!" We need all of the comic relief we can get just about now. If sanity be culturally normative, then by the norms of this culture I claim insanity.
The German express mail company DHL is not having a good year. Losses are mounting and now a planned cooperation with US competitor UPS has become a campaign issue. An Ohio senator accuses Deutsche Post of "not playing it straight with us." The plan sounds reasonable enough at first glance. DHL, the express mail service of Deutsche Post in the US, is not doing well, with slow business already having led the company to torpedo its US expansion plans in May. Now, facing losses of up to $1 billion this year, the company is negotiating with competitor UPS in the hopes of cooperating on air cargo. The German-owned express delivery company DHL is looking to partner with UPS -- which would mean the closure of its hub in Wilmington, Ohio. Yet what may seem like a sound business move has the state of Ohio, where DHL is based, up in arms. The entire Congressional delegation from the state has said it would resist any UPS-DHL deal and Ohio Lieutenant Governor Lee Fisher told SPIEGEL ONLINE that he would "do everything we can" to prevent the trans-Atlantic marriage. And now, even Republican presidential candidate John McCain and his Democratic counterpart Barack Obama have gotten into the act, each voicing concerns about possible violations of US anti-trust laws.
The German express mail company DHL is not having a good year. Losses are mounting and now a planned cooperation with US competitor UPS has become a campaign issue. An Ohio senator accuses Deutsche Post of "not playing it straight with us."
The plan sounds reasonable enough at first glance. DHL, the express mail service of Deutsche Post in the US, is not doing well, with slow business already having led the company to torpedo its US expansion plans in May. Now, facing losses of up to $1 billion this year, the company is negotiating with competitor UPS in the hopes of cooperating on air cargo.
The German-owned express delivery company DHL is looking to partner with UPS -- which would mean the closure of its hub in Wilmington, Ohio. Yet what may seem like a sound business move has the state of Ohio, where DHL is based, up in arms. The entire Congressional delegation from the state has said it would resist any UPS-DHL deal and Ohio Lieutenant Governor Lee Fisher told SPIEGEL ONLINE that he would "do everything we can" to prevent the trans-Atlantic marriage.
And now, even Republican presidential candidate John McCain and his Democratic counterpart Barack Obama have gotten into the act, each voicing concerns about possible violations of US anti-trust laws.
DHL has made every year losses in the US, shutting US operation down seems to be a very sensible business decision. Will US politics intervene at the German gov to put pressure on the Post not to shut down? Will US-German relations suffer from a shut down? Gemach, gemach
One of the dirty secrets of the American tax system at the state level is that large companies are given exemptions from property taxes at the same time that they demand millions in infrastructure improvements to set up shop. And that has the effect of raising homeowner's taxes. Not to mention that something like 75% of large US companies pay no income tax. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
All of the information on state corporate taxes for the companies came from corporate annual reports to shareholders. Here are some of the key facts that the 252 companies' annual reports reveal: ■ By 2003, these 252 companies had slashed their state income tax payments to an average of only 2.3 percent of their U.S. profits. Since the average statutory state corporate tax rate is about 6.8 percent (weighted by gross state product), that means that in 2003, two-thirds of their profits escaped state taxes entirely. ■ A shocking 71 of the 252 companies managed to pay no state income tax at all in at least one year from 2001 through 2003--despite telling their shareholders they made $86 billion in pretax U.S. profits in those no-tax years. Twenty-five of these companies enjoyed multiple no-tax years.
■ By 2003, these 252 companies had slashed their state income tax payments to an average of only 2.3 percent of their U.S. profits. Since the average statutory state corporate tax rate is about 6.8 percent (weighted by gross state product), that means that in 2003, two-thirds of their profits escaped state taxes entirely.
■ A shocking 71 of the 252 companies managed to pay no state income tax at all in at least one year from 2001 through 2003--despite telling their shareholders they made $86 billion in pretax U.S. profits in those no-tax years. Twenty-five of these companies enjoyed multiple no-tax years.
The report shows that companies skipped out on an average of $14 billion each year in state taxes. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
Long famous for its unequal distribution of wealth, Brazil has shrunk its income gap by six percentage points since 2001, more than any other country in South America this decade, said Francisco Ferreira, a lead economist at the World Bank. While the top 10 percent of Brazil's earners saw their cumulative income rise by 7 percent from 2001 to 2006, the bottom 10 percent shot up by 58 percent, according to Marcelo Côrtes Neri, the director of the Center for Social Policies at the Getulio Vargas Foundation in Rio de Janeiro. But Brazil is also outspending most of its neighbors on social programs, and overall public spending continues to be nearly four times as high as what Mexico spends as a percentage of its gross national product, Mr. Ferreira said.
While the top 10 percent of Brazil's earners saw their cumulative income rise by 7 percent from 2001 to 2006, the bottom 10 percent shot up by 58 percent, according to Marcelo Côrtes Neri, the director of the Center for Social Policies at the Getulio Vargas Foundation in Rio de Janeiro.
But Brazil is also outspending most of its neighbors on social programs, and overall public spending continues to be nearly four times as high as what Mexico spends as a percentage of its gross national product, Mr. Ferreira said.
I would really like to see comparative figures on this. This has got to be one of the most successful stories of income equalization achieved through economic growth in recent years. Gini numbers are notoriously difficult to compare as many countries have no records (or they are limited to urban areas, etc) for income distribution before the 1980s.
Even in European countries, there's very little hard data on income distribution before the Second World War. And this arguably has a very important impact on politics in a country. And if South America can move towards a more equal distribution of income then the continent is again (arguably) more likely to remain a democracy even if faced with major economic and political shocks. And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg
I'm going to put it on the front page. In the long run, we're all dead. John Maynard Keynes
Aside from using paramilitary police as assasination gangs, how is Brazil dealing with this issue ? keep to the Fen Causeway
