THE FLASHLIGHT, October 11-17, 2008
THE FLASHLIGHT
No Peace without Justice, no Justice without the Facts
October 11-17, 2008
US Economy
BBC 10-10. Japanese stocks are down 53%. Iran so far is relatively unaffected.
NYTimes 10-10. Paul Krugman. It is urgent for the US government to take over major banks, guaranteeing not only deposits, but bank debts, and obtaining equity (partial ownership) in those banks. The British rescue plan for three major banks (Royal Bank of Scotland, Halifax Bank of Scotland, and Lloyds) is a model for the US.
NYTimes 10-13. Paul Krugman won the Nobel Prize for Economics ($1.4 million).
The federal government announced a plan to buy equity in “healthy” banks. CNN 10-13. There was a coordinated response of international support for such an approach.
NYTimes 10-14. Sec. Paulson told nine leading banks that they would have to accept government investment for the sake of the financial system. Of the $700 billion voted by Congress, $250 billion will be used for this purpose. Half of the latter amount will go to Citigroup, Bank of America, Wells Fargo, Goldman Sacks, and Morgan Stanley. The rest will go to smaller banks and thrifts.
CNN 10-15. The market fell by the second greatest amount in its history: -733, D.J. 8577, that is, by 7.9%. The Nasdaq was down by 8.5%. In September, consumer spending fell, as many did not buy new cars or clothes.
CNN 10-16 and Time 10-20. Oil prices fell below $70 a barrel, the lowest point in five years. The fall in oil prices was mainly because China and India were consuming less. Chinese stocks were down 60% this year. Russian stocks were down 67% (Russia is an oil exporter). The US Standard and Poor Index was down 33%. German banks were said to need a massive government bailout. Swiss banks (Credit Suisse and UBS) were receiving government help.
PBS 10-16. Next year’s Social Security cost of living raise will be 5.8%.
Newsweek 10-20. Farid Zakaria: Since the 1930’s Americans have consumed more than they produced, and made up the difference by borrowing. Now they have received a wake-up call from Hell. It may be a blessing in disguise. This bad habit must be changed.
US Politics
CNN 10-10. With gasoline prices up, and house prices down, the suburban voters were swinging to Obama.
Obama was getting higher scores than Bill Clinton did.
PBS 10-10. Neither candidate was being honest with voters about how bad the economy was.
Obama was outspending McCain in 15 battleground states. He was attracting new groups of supporters: ethnic minorities, college graduates in the suburbs and exurbs, and youths 18-29.
NYTimes 10-12. An Alaskan legislative investigation concluded that Gov. Sarah Palin had abused her power in trying to get her former brother-in-law fired. This was a violation of the ethics code for Alaskan governors. A second investigation started.
PBS 10-13. According to an ABC-Washington Post poll Obama lead McCain by 10 points. MSNBC. Gov. Crist of Florida avoided a McCain affair and went to Disneyland instead. Conservative leader William Kristol said McCain should fire all his campaign staff.
Washington Post 10-14. A new Gallup poll found Obama leading nationally by 10 points.
CNN 10-14. Obama lead in Virginia by 10 points. This state had voted Republican for the past 40 years. Here Obama outspent McCain 4 to 1.
CBS-NYTimes poll. Obama had an 18 point lead among Independents. The latter did not like McCain’s negative ads. Now Obama had an estimated 277 electoral votes, enough to win the election.
CBS, CNN 10-16. McCain put in his best performance of the three debates, But Obama kept his cool and was considered the winner by a 27 point margin.
MSNBC 10-16. McCain withdrew his team from Wisconsin. A Democratic landslide is possible.
North Korea
NYTimes 10-12, The US removed North Korea from its list of terrorist countries.
Israel
BBC 10-13. The moderate Kadima Party signed a coalition agreement with the Labor Party.
India
BBC 10-15. In Orissa State since late August Hindus have persecuted Christians, forcing them to flee or to convert to Hinduism, destroying their homes and churches, and burning Bibles and prayer books. This was a reaction to a previous Christian persecution of Hindus.
Health
Chicago Sun Times 10-14. According to the Farmington long term heart study, even mild use of alcohol, 1 to 7 drinks a week, serves to speed the shrinkage of the brain, which is a feature of aging.
Science
The Economist, 10-11. Nobel prizes in medicine went to the scientists who discovered the identity of the virus causing HIV and that causing cervical cancer.
In physics the prize went to three Japanese scientists who explored spontaneous symmetry breaking, which is necessary to create and sustain the universe.
In chemistry the prize went to three scientists who discovered a fluorescent green protein. Other proteins in different fluorescent colors were subsequently discovered. This makes possible the coloring and identification of specific neural circuits in the brain.
No Peace without Justice, no Justice without the Facts
October 11-17, 2008
US Economy
BBC 10-10. Japanese stocks are down 53%. Iran so far is relatively unaffected.
NYTimes 10-10. Paul Krugman. It is urgent for the US government to take over major banks, guaranteeing not only deposits, but bank debts, and obtaining equity (partial ownership) in those banks. The British rescue plan for three major banks (Royal Bank of Scotland, Halifax Bank of Scotland, and Lloyds) is a model for the US.
NYTimes 10-13. Paul Krugman won the Nobel Prize for Economics ($1.4 million).
The federal government announced a plan to buy equity in “healthy” banks. CNN 10-13. There was a coordinated response of international support for such an approach.
NYTimes 10-14. Sec. Paulson told nine leading banks that they would have to accept government investment for the sake of the financial system. Of the $700 billion voted by Congress, $250 billion will be used for this purpose. Half of the latter amount will go to Citigroup, Bank of America, Wells Fargo, Goldman Sacks, and Morgan Stanley. The rest will go to smaller banks and thrifts.
CNN 10-15. The market fell by the second greatest amount in its history: -733, D.J. 8577, that is, by 7.9%. The Nasdaq was down by 8.5%. In September, consumer spending fell, as many did not buy new cars or clothes.
CNN 10-16 and Time 10-20. Oil prices fell below $70 a barrel, the lowest point in five years. The fall in oil prices was mainly because China and India were consuming less. Chinese stocks were down 60% this year. Russian stocks were down 67% (Russia is an oil exporter). The US Standard and Poor Index was down 33%. German banks were said to need a massive government bailout. Swiss banks (Credit Suisse and UBS) were receiving government help.
PBS 10-16. Next year’s Social Security cost of living raise will be 5.8%.
Newsweek 10-20. Farid Zakaria: Since the 1930’s Americans have consumed more than they produced, and made up the difference by borrowing. Now they have received a wake-up call from Hell. It may be a blessing in disguise. This bad habit must be changed.
US Politics
CNN 10-10. With gasoline prices up, and house prices down, the suburban voters were swinging to Obama.
Obama was getting higher scores than Bill Clinton did.
PBS 10-10. Neither candidate was being honest with voters about how bad the economy was.
Obama was outspending McCain in 15 battleground states. He was attracting new groups of supporters: ethnic minorities, college graduates in the suburbs and exurbs, and youths 18-29.
NYTimes 10-12. An Alaskan legislative investigation concluded that Gov. Sarah Palin had abused her power in trying to get her former brother-in-law fired. This was a violation of the ethics code for Alaskan governors. A second investigation started.
PBS 10-13. According to an ABC-Washington Post poll Obama lead McCain by 10 points. MSNBC. Gov. Crist of Florida avoided a McCain affair and went to Disneyland instead. Conservative leader William Kristol said McCain should fire all his campaign staff.
Washington Post 10-14. A new Gallup poll found Obama leading nationally by 10 points.
CNN 10-14. Obama lead in Virginia by 10 points. This state had voted Republican for the past 40 years. Here Obama outspent McCain 4 to 1.
CBS-NYTimes poll. Obama had an 18 point lead among Independents. The latter did not like McCain’s negative ads. Now Obama had an estimated 277 electoral votes, enough to win the election.
CBS, CNN 10-16. McCain put in his best performance of the three debates, But Obama kept his cool and was considered the winner by a 27 point margin.
MSNBC 10-16. McCain withdrew his team from Wisconsin. A Democratic landslide is possible.
North Korea
NYTimes 10-12, The US removed North Korea from its list of terrorist countries.
Israel
BBC 10-13. The moderate Kadima Party signed a coalition agreement with the Labor Party.
India
BBC 10-15. In Orissa State since late August Hindus have persecuted Christians, forcing them to flee or to convert to Hinduism, destroying their homes and churches, and burning Bibles and prayer books. This was a reaction to a previous Christian persecution of Hindus.
Health
Chicago Sun Times 10-14. According to the Farmington long term heart study, even mild use of alcohol, 1 to 7 drinks a week, serves to speed the shrinkage of the brain, which is a feature of aging.
Science
The Economist, 10-11. Nobel prizes in medicine went to the scientists who discovered the identity of the virus causing HIV and that causing cervical cancer.
In physics the prize went to three Japanese scientists who explored spontaneous symmetry breaking, which is necessary to create and sustain the universe.
In chemistry the prize went to three scientists who discovered a fluorescent green protein. Other proteins in different fluorescent colors were subsequently discovered. This makes possible the coloring and identification of specific neural circuits in the brain.
posted by THE FLASHLIGHT at 6:46 AM
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