6 July 2008
News and Comments 7-06-08
Posted by Roy Bischoff under: What's News .
When a clock is hungry it goes back four seconds. 
10 Comments so far...
Cameron Says:
6 July 2008 at 8:49 am.
AP Exclusive: US removes uranium from Iraq
By BRIAN MURPHY, Associated Press Writer Sun Jul 6, 4:45 AM ET
The last major remnant of Saddam Hussein’s nuclear program — a huge stockpile of concentrated natural uranium — reached a Canadian port Saturday to complete a secret U.S. operation that included a two-week airlift from Baghdad and a ship voyage crossing two oceans.
The removal of 550 metric tons of “yellowcake” — the seed material for higher-grade nuclear enrichment — was a significant step toward closing the books on Saddam’s nuclear legacy. It also brought relief to U.S. and Iraqi authorities who had worried the cache would reach insurgents or smugglers crossing to Iran to aid its nuclear ambitions.
What’s now left is the final and complicated push to clean up the remaining radioactive debris at the former Tuwaitha nuclear complex about 12 miles south of Baghdad — using teams that include Iraqi experts recently trained in the Chernobyl fallout zone in Ukraine.
http://news.yahoo.com/s/ap/20080706/ap_on_re_mi_ea/iraq_yellowcake_mission
Cameron Says:
6 July 2008 at 10:50 am.
Not offending the Chinese is more important to politicians than the US it seems.
Bush defends decisions on North Korea, Olympics
TOYAKO, Japan - President Bush on Sunday defended removing North Korea from the list of state sponsors of terrorism and attending the opening ceremonies of the Beijing Olympics as world leaders assembled to address soaring gas prices, climate change and African aid.
They faced major differences, especially over how far to go in trying to set limits on pollutants that contribute to global warming.
The host of this year’s Group of Eight summit, Japanese Prime Minister Yasuo Fukuda, and other leaders would like to see the top industrialized nations and other fast-growing economies such as China and India pledge a 50 percent cut by 2015 in the emissions that contribute to global warming. The Bush administration has not shown any enthusiasm for such a commitment without cooperation from the Chinese and Indians.
“I’ve always advocated that there needs to be a common understanding and that starts with a goal. And I also am realistic enough to tell you that if China and India don’t share that same aspiration, that we’re not going to solve the problem,” Bush said at a pre-summit news conference with Fukuda.
http://news.yahoo.com/s/ap/20080706/ap_on_go_pr_wh/bush_g8
THINKING Says:
6 July 2008 at 1:28 pm.
What has happened world wide to stocks?
The Growing Scale Of The Global Deflation:
To gain an overall measure of the accelerating global deflation now gathering force in the background, all one has to do is to look in two areas. The first area is the global stock markets. They tell the tale of what lies ahead by discounting theeconomic future into the present prices of shares. So far in 2008, global stock markets are reeling. As of July 1, Japan’s
Nikkei 225 was down by 12.1 percent while Australia’s All Ordinaries index was down 18.1 percent. The German DAX index was down 21.7 percent while India’s Sensex equities
index fell by 36.1 percent. The worst performer of 2008, China’s Shanghai Exchange index, had pushed its losses to almost 50 percent! This is deflationary to a huge degree.
Looking closer at the US stock market one sees this:
Citigroup has seen its stock fall 69 percent from its 2006 high to a 10-year low. Washington Mutual, a mortgage lender, is down 89 percent from its 2003 high and stands at its lowest
level since 1991. Merrill Lynch has tumbled 66 percent to its lowest since 2003. Lehman Brothers is down 74 percent at its lowest since 2002. On June 27, the Dow closed down 19.9 percent from its October 2007 high. The Dow slumped by 9.4 percent in June, its worst June since an 18 percent tumble in 1930 during the Great Depression.
Consider this: Since 2001, the US Dollar has dropped by 41 percent against the Euro. Yet the latest official readings of “inflation” in the US and Europe, as given by their Consumer
Price Indices (CPI), are almost identical at 4.2 percent and 4.0 percent respectively. How is this possible?
It is not…just lies from our government.
The picture to watch will be Bush and the G-8 summit. Last week, Mr Bush sent Treasury Secretary Paulson to many of the nations which will be represented at this G-8 meeting.
Mr Paulson wants the world to “invest” in the US, the nation with what are probably the largest NEGATIVE real interest rates in the world, a currency which has been decimated, a frozen and moribund banking system, a collapsing real estate market, and a stock market in the advancing stages of what could easily become a meltdown. What will Mr Bush’s contribution be? To quote him: “We’re strong Dollar people”. The communique at the end of this G-8 summit will
make interesting reading.
Finally will Bush go to the Olympics? He will or China will shut down the US with the understanding that they too will have riots in the street. (Are you reay for Martial Law?)
E.E. Says:
6 July 2008 at 2:20 pm.
THINKING, that is a scary scenario. I did hear from an economist that the economic figures would be fiddled with until after the election because President Bush won’t want it to look like recession hit on his watch. What a mess.
Hawk Says:
6 July 2008 at 3:28 pm.
I hope they succeed at that summit. We need the world to invest in the dollar. I still believe we can get back a strong America if people don’t panic.
Bryon Says:
6 July 2008 at 4:15 pm.
I hope your right Hawk. I still think we need to be ready though.
Jesse Says:
6 July 2008 at 6:23 pm.
I’m afraid that is wishful thinking. Without oil they have us by the short hairs and with politicians in office who are willing to sell out for globalism, we are going to see a lot of hurt come down the pike before it is over.
Cavetrollhead Says:
6 July 2008 at 11:40 pm.
I thought Sadaam had no WMD programs. The mere fact that he had so much Yellow Cake doesn’t sound innocent for a country that has no Nuclear Power. Or does Iraq have nuclear power that I am not aware of?
Sharon Anderson Says:
7 July 2008 at 9:40 am.
Re: Panicking and the economy. Not panicking didn’t keep the Titanic from sinking, but it probably saved some lives.
E.E. Says:
7 July 2008 at 2:31 pm.
Sharon, important point. We want to know the real story so we can get prepared.
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