THE FLASHLIGNT, November 22-28, 2008
THE FLASHLIGHT
November 22-28, 2008
No Peace without Justice, no Justice without the Facts
Mary K. Matossian, Editor
mary@matossian.net, Apt. 9-M
US Politics
NyTimes 11-21, 11-26. Obama appointed a number of highly talented individuals to top posts: Treasury Secretary Timothy Geithner; Bill Richardson, Commerce Secretary; retired Marine general Jim Jones as National Security Advisor, former Harvard president Larry Summers as Senior Presidential economic advisor; Robert Gates to continue as Defense Secretary, Paul Volcker as head of the Economic Advisory Committee.
Associated Press 11-21. The Obamas decide to send their two daughters, aged seven and ten, to Sidwell Friends School [Quaker] (which Chelsea Clinton also attended). The elementary school campus is in Bethesda, Maryland; the secondary school is in Northwest Washington.
US Economy
CNN 11-21. Congress demanded that the auto industry submit a detailed business plan by 12-2 before responding to its pleas for a bridge loan.
` There is no area of the economy that is safe now from layoffs.
The market may go down even lower. Gold is up 5-6%. Oil is down to $50 a barrel, one third of its July high, and Suzy Orman says it is a good buy at this price.
NYT, PBS 11-24. The US Treasury approved investment of $20 billion to Citigroup Bank. It was said to be too big to fail, with branches in 109 countries. The government could make money on the deal.
PBS 11-25. House prices are falling and will fall further. It was reported that Obama will cut subsidies to affluent farmers.
China and the oil rich states are no longer able to buy the US debt. We are facing a potential three trillion dollar deficit next year. The rich are going be required to pay higher taxes.
War Resistors League, 2008. In a fact sheet distributed by the Society of Friends [Quakers] “Where Your Income Tax Money Really Goes” it was shown that contrary to US government claims, 51% tax money is going to current and past [veterans] military expenditures. The government has been claiming that only 21% is military. But this has been based on deception.
According to this deception, (1) spending to pay for past wars is treated as non-military and money from trust funds [e.g. Social Security] is added to income tax dollars. If spending to pay for past wars is added to current military spending, and trust fund money is subtracted from current revenue from income taxes, then total military spending = 51% of the budget.
[So far no prominent American politician has suggested that military spending be cut,]
India
NYT 11-27 and 28. In Mumbai [formerly Bombay], India’s financial center, terrorists of unknown origin attacked luxury hotels, a theater, a hospital et al. with rifles and hand grenades At least 127 persons were killed, 327 wounded. Americans, English, other Europeans, and Israelis were singled out for murder. The terrorist killed the head of counter-terrorism in Mumbai and his two chief assistants. An international investigation began.
Iraq
NYT 11-28. The Iraqi Parliament, by a vote of 149 to 35, approved a security agreement that provided that all US troops leave the country by the end of 2011.
November 22-28, 2008
No Peace without Justice, no Justice without the Facts
Mary K. Matossian, Editor
mary@matossian.net, Apt. 9-M
US Politics
NyTimes 11-21, 11-26. Obama appointed a number of highly talented individuals to top posts: Treasury Secretary Timothy Geithner; Bill Richardson, Commerce Secretary; retired Marine general Jim Jones as National Security Advisor, former Harvard president Larry Summers as Senior Presidential economic advisor; Robert Gates to continue as Defense Secretary, Paul Volcker as head of the Economic Advisory Committee.
Associated Press 11-21. The Obamas decide to send their two daughters, aged seven and ten, to Sidwell Friends School [Quaker] (which Chelsea Clinton also attended). The elementary school campus is in Bethesda, Maryland; the secondary school is in Northwest Washington.
US Economy
CNN 11-21. Congress demanded that the auto industry submit a detailed business plan by 12-2 before responding to its pleas for a bridge loan.
` There is no area of the economy that is safe now from layoffs.
The market may go down even lower. Gold is up 5-6%. Oil is down to $50 a barrel, one third of its July high, and Suzy Orman says it is a good buy at this price.
NYT, PBS 11-24. The US Treasury approved investment of $20 billion to Citigroup Bank. It was said to be too big to fail, with branches in 109 countries. The government could make money on the deal.
PBS 11-25. House prices are falling and will fall further. It was reported that Obama will cut subsidies to affluent farmers.
China and the oil rich states are no longer able to buy the US debt. We are facing a potential three trillion dollar deficit next year. The rich are going be required to pay higher taxes.
War Resistors League, 2008. In a fact sheet distributed by the Society of Friends [Quakers] “Where Your Income Tax Money Really Goes” it was shown that contrary to US government claims, 51% tax money is going to current and past [veterans] military expenditures. The government has been claiming that only 21% is military. But this has been based on deception.
According to this deception, (1) spending to pay for past wars is treated as non-military and money from trust funds [e.g. Social Security] is added to income tax dollars. If spending to pay for past wars is added to current military spending, and trust fund money is subtracted from current revenue from income taxes, then total military spending = 51% of the budget.
[So far no prominent American politician has suggested that military spending be cut,]
India
NYT 11-27 and 28. In Mumbai [formerly Bombay], India’s financial center, terrorists of unknown origin attacked luxury hotels, a theater, a hospital et al. with rifles and hand grenades At least 127 persons were killed, 327 wounded. Americans, English, other Europeans, and Israelis were singled out for murder. The terrorist killed the head of counter-terrorism in Mumbai and his two chief assistants. An international investigation began.
Iraq
NYT 11-28. The Iraqi Parliament, by a vote of 149 to 35, approved a security agreement that provided that all US troops leave the country by the end of 2011.
posted by THE FLASHLIGHT at 8:55 AM
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