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by Fran (fran at eurotrib dot com) on Thu Jun 25th, 2009 at 03:47:03 PM EST
More US troops to end Afghan stalemate - Asia, World - The Independent

Thousands of American troops are being poured into southern Afghanistan to break the "stalemate" in the region, the senior British commander in the country said today.

General Jim Dutton, deputy commander of Nato forces in Afghanistan, denied that the British forces based in Helmand province in the south had been fighting a "losing campaign" against the Taliban.

But he acknowledged that "neither side could progress much" with the present force levels.

"In order to break that stalemate, to increase the capacity, the decision was made to bring many more forces into the south," he said in an interview with the BBC.

His acknowledgement that US reinforcements were needed to defeat the Taliban is likely to lead to further criticism that the Government failed to commit sufficient forces to the campaign.

by Fran (fran at eurotrib dot com) on Thu Jun 25th, 2009 at 03:52:39 PM EST
[ Parent ]
BBC NEWS | South Asia | 'Shift needed' in Afghan combat

The new commander of US and Nato-led troops in Afghanistan has said troops must shift from conventional warfare to protecting Afghan civilians.

Gen Stanley McChrystal is expected to release new combat rules aimed at reducing the number of civilian deaths.

A US military report has found that US air strikes in May in which Afghan civilians died had breached guidelines.

The Afghan government has repeatedly called for measures to cut the number of civilian casualties.

by Fran (fran at eurotrib dot com) on Thu Jun 25th, 2009 at 03:56:10 PM EST
[ Parent ]
NY Times: Vietnam War Shows Signs of a Stalemate Despite Increasing U.S. Commitment
August 7, 1967

A little more than two years ago, on July 28, 1965, President Johnson committed the United States more decisively than ever to the war in Vietnam by announcing the deployment of 50,000 more American troops to this stricken corner of Southeast Asia.
by Magnifico on Fri Jun 26th, 2009 at 02:54:44 AM EST
[ Parent ]
Angela Merkel heads off to Washington | Germany | Deutsche Welle | 25.06.2009
German Chancellor Angela Merkel is to meet with Barack Obama in what will be her first trip to the US since Obama took office. Iran, climate change and the global recession are expected to be on the agenda. 

Merkel is scheduled to arrive in Washington for a two day visit which will include meetings with both US President Barack Obama and Democratic House speaker Nancy Pelosi.

The agenda of the talks is expected to be dominated by the recent developments in Iran. German government sources said there was close correlation with the US position relating to Iran's post-election protests.

Both Berlin and Washington have called upon Tehran to stop using violence against protestors. The German government has demanded a recount of the votes in the disputed elections that saw hard-liner Mahmoud Ahmadinejad return to power.

Western countries have in turn been strongly criticized by Iran for meddling in internal affairs.

by Fran (fran at eurotrib dot com) on Thu Jun 25th, 2009 at 03:54:02 PM EST
[ Parent ]
Obama's Mistakes: Chancellor Merkel Visits the Debt President - SPIEGEL ONLINE - News - International

The occupant of the White House may have changed recently. But the amount of ill-advised ideology coming from Washington has remained constant. Obama's list of economic errors is long -- and continues to grow.

The president may have changed, but the excesses of American politics have remained. Barack Obama and George W. Bush, it has become clear, are more similar than they might seem at first glance.

 US President Barack Obama has not been shy about public spending. Ex-President Bush was nothing if not zealous in his worldwide campaign against terror, transgressing human rights and breaking international law along the way. Now, Obama is displaying the same zeal in his own war against the financial crisis -- and his weapon of choice is the money-printing machine. The rules the new American president is breaking are those which govern the economy. Nobody is being killed. But the strategy comes at a price -- and that price might be America's position as a global power.

In his fight against terrorism, Bush had the ideologue Dick Cheney at his side. "We must take the battle to the enemy," he said -- and sent out the bomber squadrons toward Iraq on the basis of mere suspicion. The result of the offensive is well known.

Obama's Cheney

Obama's Cheney is named Larry Summers. He is Obama's senior-most economic advisor, and like the former vice president, he is a man of conviction. The financial crisis may be large, but Summers' self-confidence is even larger. More importantly, President Barack Obama follows him like a dog does its master.

by Fran (fran at eurotrib dot com) on Thu Jun 25th, 2009 at 03:54:49 PM EST
[ Parent ]
Super-special Muni PPIP Summers Sale | Bloomberg | 25 June 2009

The program is attractive to towns and cities because the federal government pays borrowers [read, bond issuers] 35 percent of the interest cost if they issue taxable debt instead of tax-exempt securities for capital projects.  ...

More than 110 borrowers from New Jersey to California sold the securities since the first sale in April. Strategists at London-based Barclays forecast about $150 billion [read, face value] in taxable municipal securities will be issued before the program expires at the end of 2010.

Build America bonds are part of Obama's efforts to lift the economy out of the deepest recession since the 1930s. The government and the Federal Reserve have agreed to lend, spend or guarantee $12.8 trillion to support the financial system. ...

The Treasury prefers the taxable bonds because tax-exempt debt mostly benefits investors in higher tax brackets, said Krueger [another Princeton economist], who also testified last month at a House Ways and Means subcommittee hearing on the programs. Taxable municipal securities are more "efficient" than tax-exempt, he said.

eh?

Individuals with gross incomes of more than $500,000 a year claimed 44 percent of the $72 billion in interest on municipal bonds that wasn't taxed in 2006 [?], according to the most recent data from the Internal Revenue Service. Of the 143 million household tax returns filed in 2007 [?], 6.3 million [4.4%] claimed they received $76 billion [?] in tax-exempt interest, up from 6 million and $73 billion in 2006. ...

Fischer estimates the Treasury will pay about $240 million for the first $13.5 billion of bonds, subsidizing securities that have an average coupon of 7.5 percent and taxing that interest at an average 11 percent. Most of the buyers are institutions such as mutual funds and pension funds that don't pay taxes, he said. If sales reach $80 billion, the cost of the subsidies could exceed $1 billion a year, he said.



Diversity is the key to economic and political evolution.
by Cat on Thu Jun 25th, 2009 at 04:48:36 PM EST
[ Parent ]
Eh?

Tax exempt interest is of disproportional benefit to high earners. An example would be UK government savings certificates, which are regularly recommended as an exceptional deal for higher rate taxpayers.

Taxpayer A holds tax exempt government bonds, paying 2% pa.

If he pays the lowest marginal tax rate on savings of 10%, his equivalent rate of return on the certificates (what he'd have to earn elsewhere to get the same cash return) is 2%/0.9 = 2.22%.

Taxpayer B is a higher rate taxpayer, and his marginal tax rate is 40%.

So his equivalent rate of return on the same bonds is 2%/0.6 = 3.33%.

by Sassafras on Thu Jun 25th, 2009 at 05:09:04 PM EST
[ Parent ]
---wantedtoreplylastnightbutjoycehasstruckagain---

Opportunitycost! In the US however the tax rates that apply to a net capital gain are generally lower than the tax rates that apply to other income. These lower rates are called the maximum capital gain rates: 0%, 15%, 25%, and 28%. The effective rate (0%, 15%, 25%, and 28%) is dependent on calculation of taxable adjusted gross income. IRS. The greater one's adjusted gross, the higher one's applicable rate on distributions. Tax owed on net gain (loss) is calculated and reported under separate cover.

I was expecting a simple example based on volume --purchase power and level of interest-bearing 'savings'. And perhaps effects of defined contribution schemes on adjusted gross income. That's the sort of financial incentive in play to increase investment participation among 'lower income' employees ...especially women. And that policy objective is a definingfeature of Obama campaign literature.

For example, Taxpayer A's gross income is $500K. Thanks to pre-tax payroll retirement plan participation, A contributes 15% of income to purchase Build America bonds. $75K

Taxpayer B's gross income is $125K. Thanks to pre-tax payroll retirement plan, B contributes 15% of income to purchase Build America bonds. $10.75K

Taxpayer C's gross income is $45K. Sadly, Taxpayer C's employer does not offer pre-tax payroll retirement plan. So C invests 15% of after-tax earnings in Build America bonds, paying, say, $5K online for 5 coupons.

Taxpayers A, B, C will each elect the 35% discount ("tax credit") of taxable BAB income and pay applicable tax rates (according to adjusted gross) on the remainder. Taxpayer C may well pay 0%, having collected the least amount of interest from the least amount of 'savings' at any rate.

Eh. The tax shibboleth avoided is two-fold.

  • Team Obama introducton of federal tax on instruments hisorically exempt. (One could argue on the other hand that Build America bonds are not  public infrastructure financing but covered corporate debentures, private activity (explaining anticipated spreads to 20-year T-bill)
  • Build America bonds tax incentives are mutually exlcusive

(One broker's summary:) The first type of BABs provide a Federal subsidy to investors equal to 35% of the interest payable by the issuer ("Tax Credit BABs").  The second type of BABs provide a direct Federal subsidy that will be paid to state and local governments in an amount equal to 35% of the interest ("Direct Payment BABs").  Both types of BABs must be issued before January 1, 2011.

Note here that the issuer must choose either direct subsidy --or-- taxpayer discount. Further, AFAIKreadingIRSguidance, issuer is not prohibited in any case by fed PPIP terms from taxing interest earned by the bondholder. As if underscore the crucial benefit mechanism derives from defined contribution participation,

Build America Bonds are intended to expand the market for municipal bonds by attracting buyers that normally would not buy tax-exempt bonds [or taxable bonds].  Potential investors of BABs include investors in low income tax brackets, individual retirement accounts, public pension funds and foreign investors.


Diversity is the key to economic and political evolution.
by Cat on Fri Jun 26th, 2009 at 11:09:03 AM EST
[ Parent ]
'Two Different Worlds': Merkel Wants More on Climate from Obama - SPIEGEL ONLINE - News - International

As far as German Chancellor Angela Merkel is concerned, when it comes to combating climate change, US President Barack Obama refuses to go the distance. The US has stalled progress on a global agreement, and a bill currently before Congress is too anemic.

"Stop it. All of you." That was US President Barack Obama's message to the German press corps during his recent trip to Dresden when asked about reports of tensions between him and German Chancellor Angela Merkel. He went on to say that relations between Washington and Berlin are "outstanding."

by Fran (fran at eurotrib dot com) on Thu Jun 25th, 2009 at 04:04:01 PM EST
[ Parent ]
China's Airbus, too many dads -   Libération/ Presseurop

The inauguration of the first ever A320 to be assembled outside Europe was a big step for Chinese aviation and a milestone in a market much coveted by the West. To such an extent that in France, Germany and Britain, tempers have been frayed.

Fine weather, a packed house, and VIPs everywhere -- it was a perfect setting for the ceremony to present the first Airbus A320 assembled in the only EADS factory outside Europe. China still holds the promise of undreamed of opportunities, and Airbus has found a springboard for an aviation market that remains dynamic, in spite of the financial crisis. Nine months after its official opening, 1,000 guests gathered in a hangar at the factory in Tianjin to see its first completed plane delivered to the Sino-European leasing company, Dragon Aviation. The aircraft will shortly enter into service for Sichuan Airlines on regular flights between Chengdu, Beijing and Shanghai.

Nationalistic trumpet blowing

By all accounts, the new production facility will be good for China. "We will establish a strong future for the Chinese aviation industry with the help of the Chinese aviation market," announced Airbus CEO, Germany's Thomas Enders. Completed on tight schedule in just over a year, the assembly plant at Tianjin (which is 115 kilometres east of Beijing) was officially opened in September 2008. Built to seal a deal for a record order of 150 planes, which was signed in Beijing at the end of 2005, it will also play a key role in establishing what Enders terms "a long-term strategic position." Today, Airbus has 40% of the Boeing-dominated Chinese aviation market, which is experiencing double-digit growth -- and it has its sights set on 50%.

by Fran (fran at eurotrib dot com) on Thu Jun 25th, 2009 at 03:55:22 PM EST
[ Parent ]
Bagram, the new Guantánamo | Clive Stafford Smith | Comment is free | guardian.co.uk
Why is Britain conniving at the evil work of the US's secret site in Afghanistan where rendered prisoners are routinely abused?

The BBC's revelations about prisoner abuse at the US prison at Bagram airforce base in Afghanistan are the latest in a long line of revelations about abuse at US prisons around the world.

President Obama told us that this sort of thing has stopped. Well, it hasn't.

Sadly, the Obama administration is up to the former administration's familiar tricks, attempting to block the world from the truth. In April, a federal judge in Washington DC ordered that prisoners in Bagram should be allowed counsel, and the right to be heard in court; the Obama administration refused to comply, and appealed the judgment. People being beaten up in Bagram should, apparently, grin and bear it.

The US is spending $50m on a new prison for Bagram, housing more than 1,000 people - to add to the 600 who are already there. Of these, many (including all those in the recent Washington case) were not originally captured in Afghanistan at all, but in other countries. The US then rendered them into Afghanistan.

by Fran (fran at eurotrib dot com) on Thu Jun 25th, 2009 at 03:56:38 PM EST
[ Parent ]
President Obama told us that this sort of thing has stopped

Of course, he said this. Except he hasn't even stopped it at guantanamo. Forget all the nonsense about whether he can set them free here there or anywhere. The interrogations are still going on.

So the idea that it's not continuing in any of the other half a hundred odd interrogation centres the US/CIA have stashed around the globe is frankly ludicrous.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Thu Jun 25th, 2009 at 05:49:47 PM EST
[ Parent ]
BBC NEWS | Middle East | Iran's Mousavi defies crackdown

Iran protest leader Mir Hossein Mousavi says he holds those behind alleged "rigged" elections responsible for bloodshed during recent protests.

In a defiant statement on his website, he called for future protests to be in a way which would not "create tension."

He complained of "complete" restrictions on his access to people and a crackdown on his media group.

A BBC correspondent in Tehran says the statement is a direct challenge to Iran Supreme Leader Ayatollah Khamenei.

by Fran (fran at eurotrib dot com) on Thu Jun 25th, 2009 at 04:04:54 PM EST
[ Parent ]
Al Arabiya: Venezuela accuses "imperial hand" of Iran unrest

Venezuela's President Hugo Chavez threw his support behind Iran's Mahmoud Ahmadinejad and said he believed America's spy agency, the CIA, was behind clashes that have rocked the Islamic Republic for almost two weeks.

"People are in the streets, some are dead, they have snipers, and behind this is the CIA, the imperial hand of European countries and the United States," he said at a gathering of Latin American leftist leaders.

He said he suspected the U.S. and European central agencies for having a role in the post-elections clashes as he said their "imperial hand" was behind the protests that have left at least 17 people dead.

The Venezuelan president also announced his support for Ahmadinejad and said the Iranian premier "won the elections legally, we are absolutely sure we know quite a lot about Iranian politics."

by Sassafras on Thu Jun 25th, 2009 at 04:30:14 PM EST
[ Parent ]
He and Khamenei would've made great Cuban exiles.

Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
by Drew J Jones (myfriends@thisispancakes.com) on Fri Jun 26th, 2009 at 02:18:48 AM EST
[ Parent ]
Interestingly enough...

U.S., Venezuela to restore full diplomatic ties
The nations' envoys soon will take up their former posts. The move, analysts say, reflects Obama's desire for better Latin American relations and President Hugo Chavez's need to improve his image.
By Chris Kraul and Paul Richter, Los Angeles Times

In a potentially significant step toward repairing their tattered relationship, the United States and Venezuela have formally agreed to resume full diplomatic relations, the State Department announced Thursday.

Department spokesman Ian Kelly said the two nations exchanged notes that in effect formalized pledges that President Obama and Venezuelan President Hugo Chavez made at the Summit of the Americas in April to reinstall ambassadors who were expelled in September.

U.S. Ambassador Patrick Duddy and his Venezuelan counterpart, Bernardo Alvarez, soon will resume their former posts in Caracas and Washington, respectively, Kelly said. Each country's embassy had remained open and formal relations were never fully cut.

But yet, I still expect the U.S. Republicans to whine loudly.

by Magnifico on Fri Jun 26th, 2009 at 03:04:42 AM EST
[ Parent ]
Magnifico:
The move, analysts say, reflects Obama's desire for better Latin American relations and President Hugo Chavez's need to improve his image.

ahem - doesn't the bold above also mean that Obama needs to improve his image?

by Fran (fran at eurotrib dot com) on Fri Jun 26th, 2009 at 03:25:14 AM EST
[ Parent ]
Timesonline: Saeed Mortazavi: butcher of the press - and torturer of Tehran?

The Iranian regime has appointed one of its most feared prosecutors to interrogate reformists arrested during demonstrations, prompting fears of a brutal crackdown against dissent.

Relatives of several detained protesters have confirmed that the interrogation of prisoners is now being headed by Saaed Mortazavi, a figure known in Iran as "the butcher of the press". He gained notoriety for his role in the death of a Canadian-Iranian photographer who was tortured, beaten and raped during her detention in 2003.

"The leading role of Saeed Mortazavi in the crackdown in Tehran should set off alarm bells for anyone familiar with his record," said Sarah Leah Whitson, the Middle East and North Africa director of Human Rights Watch.

[Murdoch Alert]

by Sassafras on Thu Jun 25th, 2009 at 04:32:27 PM EST
[ Parent ]
Guardian: Neda Soltan's family 'forced out of home' by Iranian authorities

The Iranian authorities have ordered the family of Neda Agha Soltan out of their Tehran home after shocking images of her death were circulated around the world.

Neighbours said that her family no longer lives in the four-floor apartment building on Meshkini Street, in eastern Tehran, having been forced to move since she was killed. The police did not hand the body back to her family, her funeral was cancelled, she was buried without letting her family know and the government banned mourning ceremonies at mosques, the neighbours said.

The government is also accusing protesters of killing Soltan, describing her as a martyr of the Basij militia. Javan, a pro-government newspaper, has gone so far as to blame the recently expelled BBC correspondent, Jon Leyne, of hiring "thugs" to shoot her so he could make a documentary film.
by Sassafras on Thu Jun 25th, 2009 at 04:32:39 PM EST
[ Parent ]
Documents Back Saudi Link to Extremists - NYTimes.com
WASHINGTON -- Documents gathered by lawyers for the families of Sept. 11 victims provide new evidence of extensive financial support for Al Qaeda and other extremist groups by members of the Saudi royal family, but the material may never find its way into court because of legal and diplomatic obstacles.

The case has put the Obama administration in the middle of a political and legal dispute, with the Justice Department siding with the Saudis in court last month in seeking to kill further legal action. Adding to the intrigue, classified American intelligence documents related to Saudi finances were leaked anonymously to lawyers for the families. The Justice Department had the lawyers' copies destroyed and now wants to prevent a judge from even looking at the material.

The Saudis and their defenders in Washington have long denied links to terrorists, and they have mounted an aggressive and, so far, successful campaign to beat back the allegations in federal court based on a claim of sovereign immunity.

Allegations of Saudi links to terrorism have been the subject of years of government investigations and furious debate. Critics have said that some members of the Saudi ruling class pay off terrorist groups in part to keep them from being more active in their own country.

by Fran (fran at eurotrib dot com) on Thu Jun 25th, 2009 at 04:32:36 PM EST
[ Parent ]
Yea, we know this. House of Bush/House of Saud. Squashing this linkage was political decision, just like invading Iraq was a political distraction.

Legality/justice ? Delayed, denied, ignored as always. It's all politics. who cares ? There's money to be made, donations to be  sought, special interests to buy off.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Thu Jun 25th, 2009 at 05:55:10 PM EST
[ Parent ]
'Probably' One Million | AP | 25 June 2009

Lyn Finelli, a flu surveillance official with the Centers for Disease Control and Prevention, voiced the estimate at a vaccine advisory meeting Thursday in Atlanta.

The estimate is based on mathematical modeling. Nearly 28,000 U.S. cases have been reported to the CDC, accounting for roughly half the world's cases. The U.S. count includes 3,065 hospitalizations and 127 deaths.

surreal

Diversity is the key to economic and political evolution.

by Cat on Thu Jun 25th, 2009 at 05:15:02 PM EST
[ Parent ]
H1N1 'swine' flu has infected an estimated 1 million in U.S.
By Thomas H. Maugh II, Los Angeles Times

At least 1 million Americans have now contracted the novel H1N1 influenza, according to mathematical models prepared by the Centers for Disease Control and Prevention, while data from the field indicates that the virus is continuing to spread even though the normal flu season is over and that an increasing proportion of victims are being hospitalized.

Meanwhile, the virus is continuing its rapid spread through the Southern Hemisphere, infecting increasing numbers of people and at least one pig.

Nearly 28,000 laboratory-confirmed U.S. cases of the virus, also known as swine flu, have been reported to the CDC, almost half of the more than 56,000 cases globally reported to the World Health Organization.

But Lyn Finelli, a flu surveillance official with CDC, told a vaccine advisory committee meeting in Atlanta today that standard models of viral spread indicate that many times that number have been infected. Although 1 million seems like a high number, between 15 million and 60 million Americans are infected by the influenza virus during a normal flu season.

At least 3,065 of those infected in this country have been hospitalized and 127 have died.


by Magnifico on Fri Jun 26th, 2009 at 02:59:35 AM EST
[ Parent ]

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