Showing posts with label Europe. Show all posts
Showing posts with label Europe. Show all posts
The Credit Crunch Explained
Another layman's explanation of the financial crisis has been forwarded to me by my good friend, Adam.
Please refer any further questions, anger, verbal abuse, vigilante justice, death threats and physical torment directly to your bank's senior management, as well as those rogue financial planners, parasitic mortgage brokers and investment con artists :-)
The Credit Crunch Explained
Heidi is the proprietor of a bar in Berlin. In order to increase sales, she decides to allow her loyal customers, most of whom are unemployed alcoholics, to drink now but pay later. She keeps track of the drinks consumed on a ledger (thereby granting the customers loans).
Word gets around and as a result increasing numbers of unemployed alcoholics flood into Heidi's bar.
Taking advantage of her customers' freedom from immediate payment constraints, Heidi increases her prices for wine and beer, the most popular drinks. Her sales volume increases massively.
A young and dynamic customer service consultant at the local bank recognizes these customer debts as valuable future assets and increases Heidi's borrowing limit. He sees no reason for undue concern since he has the debts of the alcoholics as collateral.
At the bank's corporate headquarters, expert bankers transform these customer assets into DRINKBONDS, ALKBONDS and PUKEBONDS. These securities are then traded on markets worldwide. No one really understands what these abbreviations mean and how the securities are guaranteed. Nevertheless, as their prices continuously climb, the securities become top-selling items because (insert here the name of your financial advisor) recommended them as a good investment.
One day, although the prices are still climbing, a risk manager of the bank, (subsequently of course fired due to his negativity), decides that the time has come to demand payment of the debts incurred by the drinkers at Heidi's bar. But of course they cannot pay back the debts.
Heidi cannot fulfill her loan obligations and claims bankruptcy.
DRINKBOND and ALKBOND drop in price by 95 %. PUKEBOND performs better, stabilizing in price after dropping by 80 %.
The suppliers of Heidi's bar, having granted her generous payment due dates, and having invested in the securities, are faced with a new situation. Her wine supplier claims bankruptcy, her beer supplier is taken over by a competitor.
The bank is saved by the Government following dramatic round-the-clock consultations by leaders from the governing political parties.
The funds required for this purpose are obtained by a tax levied on the non-drinkers.
I am always right. Almost always
I came across a post titled I am always right. Almost always and I loved reading it because it brought home some dark truths that I grapple with consistently.
Unanswered questions like:
I have always maintained that I will never compromise my principles - my integrity is my self. Without it I am lost in a sea of expressionless and unconscious beings in a "follow me" world.
That does not mean I am fixed and rigid in my opinions and perspectives, though it may appear that way. I know that I must be open to new information and willing to adapt to the truth when it is discovered, for my principles are based solely on my knowledge and experience to date, which may well be flawed or lacking the right perspective.
One exercise that I regularly undertake, and highly recommend to everyone, is to take your beliefs, one at a time, and ask yourself simply "why do I believe this?".
Often you will find the root of your beliefs in some distant childhood memory that, when given an adult perspective, seems ludicrous, illogical or irrelevant. At that point it is time to reassess that belief in light of the present information and understanding.
Only at that moment of extraordinary capitulation can we say we have grown wiser. I look for those moments daily and embrace them with joy.
Unanswered questions like:
- When does my opposition to fundamentalism become, in itself, a form of fundamentalism?
- Can someone's freedom of expression impinge on my freedom from oppression?
- Can I maintain my integrity by compromising my position in a negotiation or debate?
"In politics you should position yourself behind what you believe in and articulate it. Then see if that's what the voters want, and if it's not what they want, well, that's democracy."I think we can adapt to this to a broader philosophy on life.
I have always maintained that I will never compromise my principles - my integrity is my self. Without it I am lost in a sea of expressionless and unconscious beings in a "follow me" world.
That does not mean I am fixed and rigid in my opinions and perspectives, though it may appear that way. I know that I must be open to new information and willing to adapt to the truth when it is discovered, for my principles are based solely on my knowledge and experience to date, which may well be flawed or lacking the right perspective.
One exercise that I regularly undertake, and highly recommend to everyone, is to take your beliefs, one at a time, and ask yourself simply "why do I believe this?".
Often you will find the root of your beliefs in some distant childhood memory that, when given an adult perspective, seems ludicrous, illogical or irrelevant. At that point it is time to reassess that belief in light of the present information and understanding.
Only at that moment of extraordinary capitulation can we say we have grown wiser. I look for those moments daily and embrace them with joy.
Censorship or Backdown?
[update 2: The Age have reinstated the article ... no explanations]
My previous post about the "Forest Fire Jihad" warning needs an update. The Age has removed the article from its site. WHY? Because of all the publicity it has received in the last 24 hours, or because it was asked by the Government, and an embarrassed Attorney-General, Robert McClelland?
[update 1: It is possible that The Age just decided to cash in by charging $2.20 access for everyone who wanted to read it, however no other Australian news sources are reporting what the rest of the world have regurgitated in the last 24 hours. Why so silent?
A Daily Mail report (UK) states: Police say they have seen no indication that the Victorian blazes were a 'forest jihad', launched by a group of Islamic extremists using fire as a form of terror against Western communities - despite South Australian Premier Mike Rann labelling the perpetrators as 'terrorists'.]
Fortunately there are other sources and I link them below as well as copy the article for posterity.
Check out all the links through Google here.
Other Sources:
Jihad Watch
Western Institute for Study of the Environment News
Clipmarks
Canada Free Press
Hillary's Village
My previous post about the "Forest Fire Jihad" warning needs an update. The Age has removed the article from its site. WHY? Because of all the publicity it has received in the last 24 hours, or because it was asked by the Government, and an embarrassed Attorney-General, Robert McClelland?
[update 1: It is possible that The Age just decided to cash in by charging $2.20 access for everyone who wanted to read it, however no other Australian news sources are reporting what the rest of the world have regurgitated in the last 24 hours. Why so silent?
A Daily Mail report (UK) states: Police say they have seen no indication that the Victorian blazes were a 'forest jihad', launched by a group of Islamic extremists using fire as a form of terror against Western communities - despite South Australian Premier Mike Rann labelling the perpetrators as 'terrorists'.]
Fortunately there are other sources and I link them below as well as copy the article for posterity.
Islam group urges forest fire jihad
by Josh Gordon for The Age
September 7, 2008
AUSTRALIA has been singled out as a target for "forest jihad" by a group of Islamic extremists urging Muslims to deliberately light bushfires as a weapon of terror.
US intelligence channels earlier this year identified a website calling on Muslims in Australia, the US, Europe and Russia to "start forest fires", claiming "scholars have justified chopping down and burning the infidels' forests when they do the same to our lands".
The website, posted by a group called the Al-Ikhlas Islamic Network, argues in Arabic that lighting fires is an effective form of terrorism justified in Islamic law under the "eye for an eye" doctrine.
The posting — which instructs jihadis to remember "forest jihad" in summer months — says fires cause economic damage and pollution, tie up security agencies and can take months to extinguish so that "this terror will haunt them for an extended period of time".
"Imagine if, after all the losses caused by such an event, a jihadist organisation were to claim responsibility for the forest fires," the website says. "You can hardly begin to imagine the level of fear that would take hold of people in the United States, in Europe, in Russia and in Australia."
With the nation heading into another hot, dry summer, Australian intelligence agencies are treating the possibility that bushfires could be used as a weapon of terrorism as a serious concern.
Attorney-General Robert McClelland said the Federal Government remained "vigilant against such threats", warning that anyone caught lighting a fire as a weapon of terror would feel the wrath of anti-terror laws.
"Any information that suggests a threat to Australia's interests is investigated by relevant agencies as appropriate," Mr McClelland said.
Adam Dolnik, director of research at the University of Wollongong's Centre for Transnational Crime Prevention, said that bushfires (unlike suicide bombing) were generally not considered a glorious type of attack by jihadis, in keeping with a recent decline in the sophistication of terrorist operations.
"With attacks like bushfires, yes, it would be easy. It would be very damaging and we do see a decreasing sophistication as a part of terrorist attacks," Dr Dolnik said.
"In recent years, there have been quite a few attacks averted and it has become more and more difficult for groups to do something effective."
Dr Dolnik said he had observed an increase in traffic on jihadi websites calling for a simplification of terrorist attacks because the more complex operations had been failing. But starting bushfires was still often regarded as less effective than other operations because governments could easily deny terrorism as the cause.
The internet posting by the little-known group claimed the idea of forest fires had been attributed to imprisoned Al Qaeda leader Abu Musab Al-Suri. It said Al-Suri had urged terrorists to use sulphuric acid and petrol to start forest fires.
Check out all the links through Google here.
Other Sources:
Jihad Watch
Western Institute for Study of the Environment News
Clipmarks
Canada Free Press
Hillary's Village
Human life exchange rates
Here's a quick guide on how to value life in a globalised free-market economy:
If you are a British journalist shot dead in Rafah by Israeli soldiers while filming a documentary about Gaza, your family receives £1.5 million in compensation to prevent the British government extraditing the soldiers and charging them with manslaughter. Nice bit of hush money for the death of a man who willingly set foot in a war zone and deliberately risked his life!
However, if you are an Afghan trying to go about your daily routine and get slaughtered by USA soldiers who also kill 14 others and wound several in the same senseless attack on your village, your family should expect a mere US$2,500 (or £1,729).
Exchange rate: 1 UK life = 867 Afghans (1,500,000 / 1,729 = 867)
In Iraq, the USA makes "condolence payments" of between $1,500 and $7,500 for each "regrettable death", although most of the 98,000+ verifiable casualties (some sources suggest more than 1 million) will never be acknowledged by the USA and no compensation will be paid to those families.
While I recognise that death and disability compensation for service personnel are ridiculously low even within western nations like the USA, UK and Australia, it is important to accept the fact that such personnel are volunteers and are being paid to fight. Civilians are not.
It may be worthy to note that there have been 4,237 US military deaths in Iraq to date - a ratio of 1 US to 23 Iraqis killed (or 1:306 by less conservative records).
Similarly, in the recent Gaza conflict we know that 14 Israelis died compared with more than 1400 Palestinians, a ratio of 1 Israeli = 100 Palestinians (Src: Daily Dispatch and Daily Freeman)
An eye for an eye, a tooth for tooth ... hardly!
More good information here
If you are a British journalist shot dead in Rafah by Israeli soldiers while filming a documentary about Gaza, your family receives £1.5 million in compensation to prevent the British government extraditing the soldiers and charging them with manslaughter. Nice bit of hush money for the death of a man who willingly set foot in a war zone and deliberately risked his life!
However, if you are an Afghan trying to go about your daily routine and get slaughtered by USA soldiers who also kill 14 others and wound several in the same senseless attack on your village, your family should expect a mere US$2,500 (or £1,729).
Exchange rate: 1 UK life = 867 Afghans (1,500,000 / 1,729 = 867)
In Iraq, the USA makes "condolence payments" of between $1,500 and $7,500 for each "regrettable death", although most of the 98,000+ verifiable casualties (some sources suggest more than 1 million) will never be acknowledged by the USA and no compensation will be paid to those families.
While I recognise that death and disability compensation for service personnel are ridiculously low even within western nations like the USA, UK and Australia, it is important to accept the fact that such personnel are volunteers and are being paid to fight. Civilians are not.
It may be worthy to note that there have been 4,237 US military deaths in Iraq to date - a ratio of 1 US to 23 Iraqis killed (or 1:306 by less conservative records).
Similarly, in the recent Gaza conflict we know that 14 Israelis died compared with more than 1400 Palestinians, a ratio of 1 Israeli = 100 Palestinians (Src: Daily Dispatch and Daily Freeman)
An eye for an eye, a tooth for tooth ... hardly!
More good information here
An eye for an eye
“An eye for an eye would make the whole world blind.”
Mahatma Ghandi
The three convicted Bali Bombers have been murdered by a vicious, third world legal system at the behest of ignorant and depraved public opinion.
This is a sad and disappointing day for anyone who holds justice high above and disparate from vengeance; for those who foresee the deep and dark ramifications of gifting martyrdom.
And all the while war criminals like Tony Blair and George W. Bush, who are ultimately responsible for the documented deaths of more than 100,000 (potentially closer to 500,000), continue to walk the Earth as free men.
Mahatma Ghandi
The three convicted Bali Bombers have been murdered by a vicious, third world legal system at the behest of ignorant and depraved public opinion.
This is a sad and disappointing day for anyone who holds justice high above and disparate from vengeance; for those who foresee the deep and dark ramifications of gifting martyrdom.
And all the while war criminals like Tony Blair and George W. Bush, who are ultimately responsible for the documented deaths of more than 100,000 (potentially closer to 500,000), continue to walk the Earth as free men.
The French are revolting!
Well ... they are trying to rise up against Iran, at least!
http://news.bbc.co.uk/2/hi/europe/6997935.stm
Apparently the French think that threatening Iran with war is meaningful. I think they are kidding themselves. I mean, honestly - given France's war record of the last 100 years, I don't even think they could successfully invade Luxembourg without the help of at least one major world power!
But at least they seem to have learned some lessons. Their own nuclear record has always lacked a good PR spin doctor and the covert operation that sank the Greenpeace ship, Rainbow Warrior in New Zealand was more like a chapter from Inspector Clouseau's police manual! Perhaps they are hoping that some honest and open threats might get the French some positive media attention ... riiight! haha.
Despite France being one of the handful of permanent UN Security Council members, I doubt that the world, and especially Iran, will do much more than yawn at this bit of lame sabre-rattling.
C'est la vie!
LOL
http://news.bbc.co.uk/2/hi/europe/6997935.stm
Apparently the French think that threatening Iran with war is meaningful. I think they are kidding themselves. I mean, honestly - given France's war record of the last 100 years, I don't even think they could successfully invade Luxembourg without the help of at least one major world power!
But at least they seem to have learned some lessons. Their own nuclear record has always lacked a good PR spin doctor and the covert operation that sank the Greenpeace ship, Rainbow Warrior in New Zealand was more like a chapter from Inspector Clouseau's police manual! Perhaps they are hoping that some honest and open threats might get the French some positive media attention ... riiight! haha.
Despite France being one of the handful of permanent UN Security Council members, I doubt that the world, and especially Iran, will do much more than yawn at this bit of lame sabre-rattling.
C'est la vie!
LOL
Science can be stranger than fiction
I came across a story in New Scientist this month that struck me as some bizarre plot for a b-grade Sci-Fi movie. In short, it describes a parasite that infects rats and mice brains, thus eliminating their fear of cats to ensure that they get eaten, so as to complete their life cycle through the cat.
You have now entered ... the Twighlight Zone! ! !
And today a friend points me to an equally strange account of the life cycle of a particular fluke. This just reinforces my doubt in the ability of any "intelligent designer" coming up with such random lunacy!
On a lighter note, I just don't get this report from the ABC that a material resembling the fictitious Kryptonite (of Superman fame) has been found by researchers in Siberia.
What has me concerned is that apparently ...
Now, I may not be a scientist, geologist or a chemist, but one thing I do understand is the english language and, in this instance, the word "matched" and I fail to see how any fool could consider these two items to be a match.
The fictitious kryptonite used to thwart Superman glows green and is of a metallic or crystalline makeup, whereas the item discovered in Siberia is white and chalky and will "fluoresce pinkish-orange" when subjected to UV light.
What the ... ?
But seriously, what stunned me the most was that "scientists" actually made the effort to compare their find with a fictitious rock from a DC comic for no apparent reason! Go figure!
You have now entered ... the Twighlight Zone! ! !
And today a friend points me to an equally strange account of the life cycle of a particular fluke. This just reinforces my doubt in the ability of any "intelligent designer" coming up with such random lunacy!
On a lighter note, I just don't get this report from the ABC that a material resembling the fictitious Kryptonite (of Superman fame) has been found by researchers in Siberia.
What has me concerned is that apparently ...
Scientists from the Natural History Museum in London, who studied its chemical composition, found it matched the description of kryptonite in the film Superman Returns.
Now, I may not be a scientist, geologist or a chemist, but one thing I do understand is the english language and, in this instance, the word "matched" and I fail to see how any fool could consider these two items to be a match.
The fictitious kryptonite used to thwart Superman glows green and is of a metallic or crystalline makeup, whereas the item discovered in Siberia is white and chalky and will "fluoresce pinkish-orange" when subjected to UV light.
What the ... ?
But seriously, what stunned me the most was that "scientists" actually made the effort to compare their find with a fictitious rock from a DC comic for no apparent reason! Go figure!
Well, derrrrrrrrr !!!!!!
Steve Bracks is pushing "major reform" to "improve literacy, reduce obesity and create a national preschool system".
What appears to be a gigantic leap of faith for the east-coast ALP governments is really just a simple plan from the average punter's point of view. In fact, I can hear voters across the nation bellowing out to Premiers Bracks, Beattie, Iemma & Rann ...
Time and time again, pollsters ask the average voters what the contemporary issues are leading into an election. Time and time again the same answers come forth ... education and health (aside from law and order). Everyone, it seems, thinks that health and education is low on the priority list for governments and that we all would like to see them both improved on an immense scale.
But, at the same time, we all are only too happy to blame the state governments for the obvious lack of will and fortitude while they in turn blame scrooge-like Commonwealth funding, despite record flows of cash through the GST ON TOP of the abomination of sneaky taxes, e.g.: stamp duty.
It has been my belief for many years, even before I read the policy papers from the Democrats, that States are somewhat redundant. I would dearly love to see our second and third (local government) tier bureaucracies replaced by a simple regional government similar to that seen in some other countries. In the UK, for example, the National Health System (NHS) provides funding to local councils that provide the services.
Such a move would, ideally, transfer ALL constitutional powers to the Commonwealth, whereby we would have one entity controlling the collection the tax revenue and the distribution thereof. One government to disperse ALL funds according to a fair and equitable rule of need, rather than the current rule of possession.
I dare the states to hand over jurisdiction in health and education to the Federal Government - lets have one national health system under medicare, but more importantly, we should demand a single education system with one national curriculum for all.
What appears to be a gigantic leap of faith for the east-coast ALP governments is really just a simple plan from the average punter's point of view. In fact, I can hear voters across the nation bellowing out to Premiers Bracks, Beattie, Iemma & Rann ...
"Well, derrrrrrrrr !!!!!!"
Time and time again, pollsters ask the average voters what the contemporary issues are leading into an election. Time and time again the same answers come forth ... education and health (aside from law and order). Everyone, it seems, thinks that health and education is low on the priority list for governments and that we all would like to see them both improved on an immense scale.
But, at the same time, we all are only too happy to blame the state governments for the obvious lack of will and fortitude while they in turn blame scrooge-like Commonwealth funding, despite record flows of cash through the GST ON TOP of the abomination of sneaky taxes, e.g.: stamp duty.
It has been my belief for many years, even before I read the policy papers from the Democrats, that States are somewhat redundant. I would dearly love to see our second and third (local government) tier bureaucracies replaced by a simple regional government similar to that seen in some other countries. In the UK, for example, the National Health System (NHS) provides funding to local councils that provide the services.
Such a move would, ideally, transfer ALL constitutional powers to the Commonwealth, whereby we would have one entity controlling the collection the tax revenue and the distribution thereof. One government to disperse ALL funds according to a fair and equitable rule of need, rather than the current rule of possession.
I dare the states to hand over jurisdiction in health and education to the Federal Government - lets have one national health system under medicare, but more importantly, we should demand a single education system with one national curriculum for all.
Big Brother is getting bolder
The paranoia besetting the Western world is bringing out the worst in humanity and infringing upon many civil liberties.
While I have no problem with governments implementing CCTV surveillance for the benefit of society I implore that more questions need to be asked about such moves as the UK plan to monitor car rego plates and store their movements for a period of 2 - 5 years.
see this article
Is this going to provide a safer world or just provide Big brother with more tools to invade our privacy?
While I have no problem with governments implementing CCTV surveillance for the benefit of society I implore that more questions need to be asked about such moves as the UK plan to monitor car rego plates and store their movements for a period of 2 - 5 years.
see this article
Is this going to provide a safer world or just provide Big brother with more tools to invade our privacy?
What the ... ?
Some interesting news items hit me today as I was scanning blogs, google news and mainstream sources. The following three news items are clear examples of how one-sided journalism has become. It is so bad that items requiring further investigation are glossed over or given a positive spin to alleviate any awkward public questions.
I refuse to ever be part of that whitewash.
The first was North Korea's agreement to cease nuclear armament in exchange for a watered down USA non-aggression pact and ample supply of oil and electricity. Yet, as I write this new reports suggest that the North will not agree unless it is given nuclear reactors to generate power.
It concerns me that all this tension could be alleviated with some horse-trading of energy issues. It seems a little too easy and unrealistic. My bet is that something more substantial is hidden in the detail of the negotiations, and that the latest development seems to point to a continuation of nuclear development.
In another development, NASA has revealed plans to launch expeditions to Mars from the Moon. The strategy involves a number of manned missions to establish a lunar launch facility. Again it's the detail that bothers me, with plans to explore whether "resources, such as oxygen, hydrogen and metals, are available for use in NASA's long-term lunar exploration objectives". That seems to be a careful way of saying that the Moon has been targetted for mining operations! Under whose authority, I ask?
And in a bizarre situation in Iraq, two British soldiers were working "undercover", (dressed as Iraqis) and were arrested by Iraqi police after shooting at a traffic policeman. They were later "rescued" by British forces, who "used an armored fighting vehicle "to gain entry" to the police station to release them".
It begs the question why army personnel were "undercover" in the first place, and how is it that they are somehow above the laws that they should be trying to enforce.
Iraq is in total chaos, on the verge of civil war, and every day that allied forces are asked to remain in that country perpetuates an unnecessary living hell for both the military and the civillians.
[+/-] show/hide this post
I refuse to ever be part of that whitewash.
The first was North Korea's agreement to cease nuclear armament in exchange for a watered down USA non-aggression pact and ample supply of oil and electricity. Yet, as I write this new reports suggest that the North will not agree unless it is given nuclear reactors to generate power.
It concerns me that all this tension could be alleviated with some horse-trading of energy issues. It seems a little too easy and unrealistic. My bet is that something more substantial is hidden in the detail of the negotiations, and that the latest development seems to point to a continuation of nuclear development.
In another development, NASA has revealed plans to launch expeditions to Mars from the Moon. The strategy involves a number of manned missions to establish a lunar launch facility. Again it's the detail that bothers me, with plans to explore whether "resources, such as oxygen, hydrogen and metals, are available for use in NASA's long-term lunar exploration objectives". That seems to be a careful way of saying that the Moon has been targetted for mining operations! Under whose authority, I ask?
And in a bizarre situation in Iraq, two British soldiers were working "undercover", (dressed as Iraqis) and were arrested by Iraqi police after shooting at a traffic policeman. They were later "rescued" by British forces, who "used an armored fighting vehicle "to gain entry" to the police station to release them".
It begs the question why army personnel were "undercover" in the first place, and how is it that they are somehow above the laws that they should be trying to enforce.
Iraq is in total chaos, on the verge of civil war, and every day that allied forces are asked to remain in that country perpetuates an unnecessary living hell for both the military and the civillians.
[+/-] show/hide this post
Iraq's missing billions
The question on everyone's lips over the last few months has been "can things get any worse in Iraq?". Apparently they just did.
A report via The Independent claims that at least one billion dollars (US$ value, I'm guessing, though the article doesn't stipulate the currency), but possibly double that amount, has gone missing from the nation's ministries.
The funds disappeared over an eight-month period in the previous financial year. Comparisons are being made about the fraud and the oil-for-food scandal during Saddam's leadership, which lost $1.8 billion dollars.
While the United Nations has felt the scathing pressure of world opinion for its lack of policing and accountability of the oil-for-food program, USA forces and diplomats were in a much better position to prevent this significant episode of theft, fraud and corruption. The fallout is expected to be severely damaging to the US.
According to the report, the money was siphoned away through a series of unscrupulous deals to purchase arms from Poland and Pakistan. The deals were peculiar because they were:
Instead of receiving quality weaponry and machinery, Iraq was left with inferior equipment with some of it past its useful life, such as 28 year old soviet-built helicopters that the manufacturers claim should have been scrapped after 25 years.
No doubt these revelations will add to the woes of the Iraqi and US administrations and any hopes of an early pull-out by allied forces are all but dashed as Iraq is now clearly incapable of adequately training its military or providing the necessary infrastructure to protect itself from insurgency.
The USA is now here for the long haul, its feet stuck in a quagmire of corruption, mismanagement and insurgency that seems futile to try and stop. Nothing short of a miracle could stop the country travelling further down the path of chaos and soon the USA will be beyond its own capability to protect its own interests.
[+/-] show/hide this post
A report via The Independent claims that at least one billion dollars (US$ value, I'm guessing, though the article doesn't stipulate the currency), but possibly double that amount, has gone missing from the nation's ministries.
The funds disappeared over an eight-month period in the previous financial year. Comparisons are being made about the fraud and the oil-for-food scandal during Saddam's leadership, which lost $1.8 billion dollars.
While the United Nations has felt the scathing pressure of world opinion for its lack of policing and accountability of the oil-for-food program, USA forces and diplomats were in a much better position to prevent this significant episode of theft, fraud and corruption. The fallout is expected to be severely damaging to the US.
According to the report, the money was siphoned away through a series of unscrupulous deals to purchase arms from Poland and Pakistan. The deals were peculiar because they were:
"awarded without bidding ... signed with a Baghdad-based company, and not directly with the foreign supplier ... the money was paid up front and ... paid at great speed out of the ministry's account."
Instead of receiving quality weaponry and machinery, Iraq was left with inferior equipment with some of it past its useful life, such as 28 year old soviet-built helicopters that the manufacturers claim should have been scrapped after 25 years.
No doubt these revelations will add to the woes of the Iraqi and US administrations and any hopes of an early pull-out by allied forces are all but dashed as Iraq is now clearly incapable of adequately training its military or providing the necessary infrastructure to protect itself from insurgency.
The USA is now here for the long haul, its feet stuck in a quagmire of corruption, mismanagement and insurgency that seems futile to try and stop. Nothing short of a miracle could stop the country travelling further down the path of chaos and soon the USA will be beyond its own capability to protect its own interests.
[+/-] show/hide this post
Baghdad's Burden
It was the worst single day of civillian deaths in Baghdad since the invasion over two years ago.
According to a report in the Independent more than a dozen coordinated attacks took place killing about 150 people and injuring nearly 4 times as many. The worst occurred when a suicide bomber enticed hundreds of labourers to his van with promises of work before detonating explosives inside the vehicle, killing 114 and injuring 156 others.
The deaths mark a new point in the war, with some reporters going so far as to foresee the escalation in attacks as the beginning of a civil war. However, Robert Fisk takes a refreshingly honest look at the spin here.
I've reintroduced the Iraq Body Count banner above to highlight the continued suffering of this nation at the hands of insurgents and fuelled by the presence of the USA and its allies. It is a reminder that the invasion was wrongful and continues to be a great injustice to the Iraqi people.
The current reported death toll lies between 24,712 and 27,963 civilians.
According to a report in the Independent more than a dozen coordinated attacks took place killing about 150 people and injuring nearly 4 times as many. The worst occurred when a suicide bomber enticed hundreds of labourers to his van with promises of work before detonating explosives inside the vehicle, killing 114 and injuring 156 others.
The deaths mark a new point in the war, with some reporters going so far as to foresee the escalation in attacks as the beginning of a civil war. However, Robert Fisk takes a refreshingly honest look at the spin here.
I've reintroduced the Iraq Body Count banner above to highlight the continued suffering of this nation at the hands of insurgents and fuelled by the presence of the USA and its allies. It is a reminder that the invasion was wrongful and continues to be a great injustice to the Iraqi people.
The current reported death toll lies between 24,712 and 27,963 civilians.
Less news, more movies
I've just posted my response to a Lightspeed mini-poll and found the current results (as of this morning) fascinating.
The question being asked is:
Which one of the following would you like to see more of on free-to-air television?
[+/-] show/hide the results
Respondents had clearly indicated their desire for more documentaries and movies, but of most interest to me was that the lowest response rate was for news. Apparently the last thing we want is more news!
Are we all newsed out? Are we overloaded with news? Are the majority of Australians just sick and tired of listening to all the politics, crimes, war and the rest of the bad stuff that happens in our world? Have we turned off and tuned out of the big picture and refocussed on the simpler and sweeter things in life, like watching a cleverly orchestrated and frenzied feeding upon a shoal of sardines by dolphins, sharks and birds?
Perhaps the medium of television is experiencing a shift back to pure entertainment and that people are gaining their information (like news and current affairs) from other sources such as the Internet. With the advent of Newsfeeds (RSS, atom etc) and Podcasts, news and information (as well as entertainment) is no longer limited to your tv screen or PC monitor.
But not all is at a loss. At least history programs rated higher than reality tv :-)
The question being asked is:
Which one of the following would you like to see more of on free-to-air television?
Movies 24%
Documentaries 15%
Drama series 8%
Local programming 7%
Sports events 6%
History programmes 5%
Sitcoms 5%
Entertainment shows 4%
International programmes, movies, etc. 4%
Do-it-yourself shows 3%
Reality shows 3%
Travel shows 3%
Current affairs 2%
Game shows 2%
Home decorating shows 2%
Talk shows 2%
News 1%
Other 3%
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Respondents had clearly indicated their desire for more documentaries and movies, but of most interest to me was that the lowest response rate was for news. Apparently the last thing we want is more news!
Are we all newsed out? Are we overloaded with news? Are the majority of Australians just sick and tired of listening to all the politics, crimes, war and the rest of the bad stuff that happens in our world? Have we turned off and tuned out of the big picture and refocussed on the simpler and sweeter things in life, like watching a cleverly orchestrated and frenzied feeding upon a shoal of sardines by dolphins, sharks and birds?
Perhaps the medium of television is experiencing a shift back to pure entertainment and that people are gaining their information (like news and current affairs) from other sources such as the Internet. With the advent of Newsfeeds (RSS, atom etc) and Podcasts, news and information (as well as entertainment) is no longer limited to your tv screen or PC monitor.
But not all is at a loss. At least history programs rated higher than reality tv :-)
More questions over murder by UK police
If something smells rotten in Denmark, then something is toxic in London.
Conflicting reports are coming to light about the fatal shooting of Jean Charles de Menezes, a Brazillian national falsely identified as a terorist suspect, at Stockwell Tube station on 22 July.
On the one hand, if there was a conspiracy to cover up a monumental bungle, I'd expect the police to be capable of a better job than this. Then again, the probability that all eight CCTV cameras failed or were inoperable beggars belief.
Quite simply, the odds are favouring a cover-up and I wouldn't want to be one of the officers whose head is on the chopping block.
It is imperative that the truth of this matter be flushed out and presented to the british public as soon as possible. Any attempt at a whitewash will not only be a public relations disaster, but is also likely to send the wrong message to police and allow them to get away with poor judgement in the future.
This is a potential tipping point for civil rights and police accountability in the same vein as the brutality of Rodney King in 1991 became a point of reference for the world.
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Conflicting reports are coming to light about the fatal shooting of Jean Charles de Menezes, a Brazillian national falsely identified as a terorist suspect, at Stockwell Tube station on 22 July.
On the one hand, if there was a conspiracy to cover up a monumental bungle, I'd expect the police to be capable of a better job than this. Then again, the probability that all eight CCTV cameras failed or were inoperable beggars belief.
Quite simply, the odds are favouring a cover-up and I wouldn't want to be one of the officers whose head is on the chopping block.
It is imperative that the truth of this matter be flushed out and presented to the british public as soon as possible. Any attempt at a whitewash will not only be a public relations disaster, but is also likely to send the wrong message to police and allow them to get away with poor judgement in the future.
This is a potential tipping point for civil rights and police accountability in the same vein as the brutality of Rodney King in 1991 became a point of reference for the world.
[+/-] show/hide this post
The War Against an Idea
Does the 'War Against Terror' have a known enemy? Is the treatment we are providing worse than the disease?
It certainly seems that the more the USA and its allies fight the terrorists the greater their number and more widespread their attacks become. It is like trying to fight Golden Staph with simple penicillin.
In 2001 the world stood in the wake of 911 and vowed to bring justice to those who lost their lives. Soon we will witness the passing of four years, with two wars fought (and still underway) and two 'evil' regimes overthrown (despite being unconnected to the attack on the USA).
In the time since that fateful day the horror has continued with Bali, Madrid and London as well as numerous smaller attacks, all of which have left tens of thousands of people dead or mourning and millions more living in fear or with their rights under threat.
Jason Burke writes in The Guardian today to suggest that what we are seeing is the work of an idea sweeping the world, rather than a carefully crafted plot by some underworld organisation.
He is right. And what is more, the governments and the media are the unwitting fuel for this pandemic. What we are seeing now is the start of a long list of copycat terrorist attacks from all manner of people, not just trained terrorists or crazed fundamentalists but real people with a real grudge.
The new war is beginning to be fought in our own streets, near our homes and places of work. It no longer requires a large network of terrorist cells financed by middle eastern billionaires or a magic word to awaken the sleepers that lie dormant in our suburbs.
Today's terrorists are people we went to school with, the guy we chat to in the lunch bar or on the bus. They are regular citizens who, for whatever reason, get hooked into the idea that is now being played out on their TV's, radios, newspapers, magazines and the internet.
Just as the green movement, and the anti-nuclear movement before it, swooped across the world in a wave of acceptance with powerful consequences, so too can the ideals of peace in the Middle-East or faith in Islam be turned to less positive consequences and have such disastrous effects upon the world.
Burke is right - and it goes far deeper than he cared to admit.
[+/-] show/hide this post
It certainly seems that the more the USA and its allies fight the terrorists the greater their number and more widespread their attacks become. It is like trying to fight Golden Staph with simple penicillin.
In 2001 the world stood in the wake of 911 and vowed to bring justice to those who lost their lives. Soon we will witness the passing of four years, with two wars fought (and still underway) and two 'evil' regimes overthrown (despite being unconnected to the attack on the USA).
In the time since that fateful day the horror has continued with Bali, Madrid and London as well as numerous smaller attacks, all of which have left tens of thousands of people dead or mourning and millions more living in fear or with their rights under threat.
Jason Burke writes in The Guardian today to suggest that what we are seeing is the work of an idea sweeping the world, rather than a carefully crafted plot by some underworld organisation.
... we need to face up to the simple truth that Bin Laden, al-Zawahiri et al do not need to organise attacks directly. They merely need to wait for the message they have spread around the world to inspire others. Al-Qaida is now an idea, not an organisation.
He is right. And what is more, the governments and the media are the unwitting fuel for this pandemic. What we are seeing now is the start of a long list of copycat terrorist attacks from all manner of people, not just trained terrorists or crazed fundamentalists but real people with a real grudge.
The new war is beginning to be fought in our own streets, near our homes and places of work. It no longer requires a large network of terrorist cells financed by middle eastern billionaires or a magic word to awaken the sleepers that lie dormant in our suburbs.
Today's terrorists are people we went to school with, the guy we chat to in the lunch bar or on the bus. They are regular citizens who, for whatever reason, get hooked into the idea that is now being played out on their TV's, radios, newspapers, magazines and the internet.
Just as the green movement, and the anti-nuclear movement before it, swooped across the world in a wave of acceptance with powerful consequences, so too can the ideals of peace in the Middle-East or faith in Islam be turned to less positive consequences and have such disastrous effects upon the world.
Burke is right - and it goes far deeper than he cared to admit.
[+/-] show/hide this post
Theocracy Alert
The threat of theocracy seems to be dwindling a bit in recent weeks. The new Rottweiller Pontiff seems to be more bark than bite, and in Australia we are still waiting to hear any major peeps out of Family First and their supporters.
On that basis I have reduced the level of the Early Warning System down to code YELLOW. If the situation remains status quo for the next couple of months I'll consider a further drop to sleepy GREEN.
More pertinent these days than the threat of theocracy is the rising threat of an Orwellian police state. While Australia is not yet going to be dragged down to the level of the UK's "shoot first" xenophobia, the fact that we are debating a national ID card with fingerprint, DNA or facial feature security systems is one that raises far more questions about rights versus security.
On that basis I have reduced the level of the Early Warning System down to code YELLOW. If the situation remains status quo for the next couple of months I'll consider a further drop to sleepy GREEN.
More pertinent these days than the threat of theocracy is the rising threat of an Orwellian police state. While Australia is not yet going to be dragged down to the level of the UK's "shoot first" xenophobia, the fact that we are debating a national ID card with fingerprint, DNA or facial feature security systems is one that raises far more questions about rights versus security.
Picking a Pope
Much has been said about the accuracy of polls versus bookies when it has come to recent elections. The odds seem to be in favour of the pundits over the pollsters, but can we say the same for the one election that currently has the world on its toes.
The major difference between the papal ballot and a democratic government election is quite clearly the voters themselves.
115 "princes of the church" will meet tomorrow behind closed doors and away from the influence of the mortal world. They will choose, through a series of secret ballots, the man who will lead the Catholic Church and its 1 billion followers.
This is not democracy, nor is it representative. The next Pope must be an unmarried, single, male, Catholic. Even though the voting Cardinals can choose from the entire world they are likely to choose from amongst those in the conclave; and only those Cardinals under the age of 80 are entitled to be a part of that process.
Of course, this process is still much more democratic than the current process for electing our Prime Minister or Governor-General :-)
So who will be the new Pontiff?
If you listen to the people (via the bookies) the top candidates are:
NAME . . . . . . . . . . . . PADDYPOWER / SPORTINGBET
Joseph Ratzinger (Germany) 3 / 5.5
Jean-Marie Lustiger (France) 4.5 / 6
Carlo Maria Martini (Italy) 5 / 6.5
Dionigi Tettamanzi (Italy) 7 / 9
Claudio Hummes (Brazil) 8 / 8
Francis Arinze (Nigeria) 8 /10
Jorge Bergoglio (Argentina) 12 /10
Oscar Maradiaga (Honduras) 16 / 9
Angelo Sodano (Italy) 10 / 17
Jose Da Cruz Policarpo (Portugal) 12 / 15
Francisco Ossa (Chile) 14 / 17
Keith OBrien (Scotland) 20 / 21
Cardianl Ruini (Italy) 20 / 26
Christoph von Schoenborn (Austria) 33 / 15
Cardinal Scola (Italy) 33 / 17
Ivan Dias (India) 33 / 21
Giovanni Battista Re (Italy) 33 / 21
Cardinal Hoyos (Colombia) 40 / 17
Giacomo Biffi (Italy) 40 / 17
Jaime Alamino (Cuba) 40 / 17
Norberto Carrera (Mexico) 40 / 26
Ennio Antonelli (Italy) 50 / 17
Juan Cipriani (Italy) 50 / 17
Crescenzio Sepe (Italy) 80 / 17
...
George Pell (Australia) 66 / 101
The distribution of Catholics would suggest that the pontiff must come from Europe or Latin/South America. Therefore I will eliminate the popular Arinze from Nigeria (In addition I don't think the church is ready for a black Pope.) as well as Dias from India.
I'm inclined to eliminate all the Italians as the Church would appear to need to continue reaching out beyond its tradional homeland.
History shows us that the favourites are usually not the winners, so I'll eliminate Ratzinger and Lustiger. Similarly, I will deduct O'Brien as he originates from a superpower country - another unfavourable factor.
This leaves two Europeans (Policarpo and von Schoenborn) with seven from South America. But I think we can safely remove Alamino and Hoyos because politically, Cuba and Colombia fail to live up to the mark of delivering a Pope.
Thus, my shortlist is:
Claudio Hummes (Brazil)
Jorge Mario Bergoglio (Argentina)
Oscar Rodriguez Maradiaga (Honduras)
Jose Da Cruz Policarpo (Portugal)
Francisco Javier Errazuriz Ossa (Chile)
Christoph von Schoenborn (Austria)
Norberto Rivera Carrera (Mexico)
It is possible to strike off Bergoglio because he is a Jesuit. Also, Hummes and Maradiaga are both considered progressives, which may go against them in a strikingly conservative conclave. Ossa and Carrera are strong contenders but who will the European Princes of the Church prefer?
Von Schoenborn would be a decisive vote for Europe, however he is reported to have made a few judgemental errors that have left him merely working in the shadow of retired Austrian Cardinal Franz König.
Policarpo, from Portugal, may be able to garner the much needed support of both Europe AND Latin America to ensure the papacy as a bridge between traditional Europe, which is home to 50% of all Cardinals and 25% of all Catholics, and Latin America, which commands 43% of the world's Catholic population but only 18% of Cardinals.
My money is on Policarpo or Ossa, with Carrera an outside third.
Good source of info at the New York Times
The major difference between the papal ballot and a democratic government election is quite clearly the voters themselves.
115 "princes of the church" will meet tomorrow behind closed doors and away from the influence of the mortal world. They will choose, through a series of secret ballots, the man who will lead the Catholic Church and its 1 billion followers.
This is not democracy, nor is it representative. The next Pope must be an unmarried, single, male, Catholic. Even though the voting Cardinals can choose from the entire world they are likely to choose from amongst those in the conclave; and only those Cardinals under the age of 80 are entitled to be a part of that process.
Of course, this process is still much more democratic than the current process for electing our Prime Minister or Governor-General :-)
So who will be the new Pontiff?
If you listen to the people (via the bookies) the top candidates are:
NAME . . . . . . . . . . . . PADDYPOWER / SPORTINGBET
Joseph Ratzinger (Germany) 3 / 5.5
Jean-Marie Lustiger (France) 4.5 / 6
Carlo Maria Martini (Italy) 5 / 6.5
Dionigi Tettamanzi (Italy) 7 / 9
Claudio Hummes (Brazil) 8 / 8
Francis Arinze (Nigeria) 8 /10
Jorge Bergoglio (Argentina) 12 /10
Oscar Maradiaga (Honduras) 16 / 9
Angelo Sodano (Italy) 10 / 17
Jose Da Cruz Policarpo (Portugal) 12 / 15
Francisco Ossa (Chile) 14 / 17
Keith OBrien (Scotland) 20 / 21
Cardianl Ruini (Italy) 20 / 26
Christoph von Schoenborn (Austria) 33 / 15
Cardinal Scola (Italy) 33 / 17
Ivan Dias (India) 33 / 21
Giovanni Battista Re (Italy) 33 / 21
Cardinal Hoyos (Colombia) 40 / 17
Giacomo Biffi (Italy) 40 / 17
Jaime Alamino (Cuba) 40 / 17
Norberto Carrera (Mexico) 40 / 26
Ennio Antonelli (Italy) 50 / 17
Juan Cipriani (Italy) 50 / 17
Crescenzio Sepe (Italy) 80 / 17
...
George Pell (Australia) 66 / 101
The distribution of Catholics would suggest that the pontiff must come from Europe or Latin/South America. Therefore I will eliminate the popular Arinze from Nigeria (In addition I don't think the church is ready for a black Pope.) as well as Dias from India.
I'm inclined to eliminate all the Italians as the Church would appear to need to continue reaching out beyond its tradional homeland.
History shows us that the favourites are usually not the winners, so I'll eliminate Ratzinger and Lustiger. Similarly, I will deduct O'Brien as he originates from a superpower country - another unfavourable factor.
This leaves two Europeans (Policarpo and von Schoenborn) with seven from South America. But I think we can safely remove Alamino and Hoyos because politically, Cuba and Colombia fail to live up to the mark of delivering a Pope.
Thus, my shortlist is:
Claudio Hummes (Brazil)
Jorge Mario Bergoglio (Argentina)
Oscar Rodriguez Maradiaga (Honduras)
Jose Da Cruz Policarpo (Portugal)
Francisco Javier Errazuriz Ossa (Chile)
Christoph von Schoenborn (Austria)
Norberto Rivera Carrera (Mexico)
It is possible to strike off Bergoglio because he is a Jesuit. Also, Hummes and Maradiaga are both considered progressives, which may go against them in a strikingly conservative conclave. Ossa and Carrera are strong contenders but who will the European Princes of the Church prefer?
Von Schoenborn would be a decisive vote for Europe, however he is reported to have made a few judgemental errors that have left him merely working in the shadow of retired Austrian Cardinal Franz König.
Policarpo, from Portugal, may be able to garner the much needed support of both Europe AND Latin America to ensure the papacy as a bridge between traditional Europe, which is home to 50% of all Cardinals and 25% of all Catholics, and Latin America, which commands 43% of the world's Catholic population but only 18% of Cardinals.
My money is on Policarpo or Ossa, with Carrera an outside third.
Good source of info at the New York Times
Barnett digs world's longest political grave
The election campaign may be into its second week, but until last night's televised Leaders Debate, it was flying low on the radar for most Western Australians.
Less than 24 hours ago this election seemed to be a choice between tweedle-dull and tweedle-duller. Now, with the help of an event equivalent to a Chernobyl-style meltdown inside of Colin Barnett's cranium, duller has become moronic, if not certifiably insane!
Of course, I'm talking about the Coalition (or is it just the crazy Libs?) promise to build the world's longest canal from the Kimberley to Perth, a distance of around 3700km. But it is not an original idea - the ALP set about investigating the concept last year (see the Guardian report here).
What is incredulous, is not that the idea has been raised (every option is valid until proven invalid) - the real problem is that Barnett used the Leaders Debate to publicly commit (presumably as a core promise) to the $2bn project without even so much as a feasibility report!!
As reported by the ABC:
Jorg Imberger, from the Centre for Water Research at the University of Western Australia, says Mr Barnett's policy is premature.
"Technically, a proposal like that is feasible, but whether it is economic or not is totally another question," he said.
Not just economically - what about environmentally? What effect will such a project have on native wildlife when it effectively creates a barrier between coastal and inland WA? What will be the effect of increased agriculture due to the proposed irrigation schemes along its path?
And why, oh why, should we use pristine clear water to supply industry, while many of our regional communities lack suitable potable water? If they do intend to use this resource for domestic supply, how will they guarantee the safety of the supply? At least with a sealed pipe (the much maligned Ernie Bridge proposal) it is more secure from deliberate or accidental contamination.
So many questions, so few answers. But at least it has a bit more credibility than the idea proposed by a former Democrat candidate who, quite a while ago, suggested towing an iceberg from Antarctica! :-)
If there was anything that might put a stop to the Libs gaining Government, this commitment just might do it. The ALP are probably celebrating already.
[+/-] show/hide this post
Iraq voter numbers are fantasy
No matter how many journalists, commentators and diplomats put their spin on the recent election in Iraq, one thing is for sure ... the USA is relying on the simple fact that most people can't count, or won't bother to question basic math!
In recent media reports, no doubt fuelled by US propaganda, speculation about the depth of voter turnout for the Iraq election has been remarkably positive. However, if you scratch beneath the thin sugar coating one big conclusion is apparent - they fudged the numbers!
Quite simply, the math doesn't add up!
Take this article from the BBC which states what many other news sources also claim:
The overall election turnout has been estimated at about 60% [of what], with some eight million Iraqis voting. It remains unclear how many Iraqis were registered to vote.
60% of what? 8 million voters @ 60% surely must equal more than 13 million eligible voters! And if the voters weren't registered how could they vote?
Even a seventh grade student can calculate a simple percentage if given the figures. So away we go to the CIA's World Factbook, which tells us that the population of Iraq aged 15yrs+ is approximately 15 million. Given that those between 15 and 18 are probably ineligible to vote the eligible voting population would be closer to 13 million - surprise!
It then isn't hard to calculate that the "8 million" who supposedly voted is roughly equal to 60% of eligible voters. So why then is it "unlcear how many Iraqis were registered to vote"?
The only possible conclusion is that someone, somewhere, has been plucking figures out of the air. It is far more likely that 60% of registered voters placed a ballot, and that the number of registered voters was somewhat less than the maximum 13 million eligible! It is more probable that even fewer than 8 million, possibly less than 5 million, were registered to vote given the difficulties of establishing a secure electoral roll.
With all this in mind it would surprise me if the total number of ballots received exceeded 3 or 4 million under such circumstances - less than 16% of the total population.
[+/-] show/hide this post
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