Wednesday

The Daily WAR (06-08)

Reading between the lines, and thinking outside the box . . .
 
[WAR: Back in Arizona!...]
 
 
 
 
 
    Chancellor Merkel has called for unity between her conservative party and coalition partner, the Social Democrats, and a focus on national issues as Germany is swept up in premature election fever.
 
    Chancellor Angela Merkel's conservatives will this week agree a plan to extend the life of Germany's nuclear plants and make operators pay some of the extra income into a fund to help cover renewable energy costs.
 
    WestLB has been in trouble for months. Now, though, the European Commission is threatening to force the bank to pay back billions of euros of public bailout money. A disaster for the German economy could result.
 
    The European Court of Justice needs to be stopped from undermining national jurisdiction, former German President Roman Herzog and Lüder Gerken, the director of the Centre for European Policy, have warned in a comment published by the EUobserver.
    Herzog argues that both labour market policy and social policy are under the jurisdiction - or in Brussels jargon - 'core competences' of the member states.
 
    The German cabinet has extended the army's mission in Lebanon by up to 15 months. Currently 230 German troops are stationed there to prevent arms smuggling.
 
 
 
    Georgia's opposition politicians have called for Mikheil Saakashvili's resignation following his initiation and mishandling a war with Russia.
    "Saakashvili bears political and moral responsibility for starting the war [with Russia] and for its catastrophic consequences. Saakashvili no longer holds either political or moral right to be the president of Georgia or commander-in-chief."
 
    Russians are about to receive an unprecedented evening of 9/11 truth.
 
 
 
    Last night, Israeli police recommended to prosecutors that the Prime Minister, Ehud Olmert, be indicted in a corruption investigation.
    And the Israeli Attorney General has been urged to launch a criminal investigation into whether Shaul Mofaz ordered "war crimes" to be committed when he was the military's chief of staff.
 
    Thanks largely to the US support, Israelis have adapted to an occupation mentality of denial of danger.
 
    Pulitzer Prize-winning journalist Bob Woodward revealed to Larry King that the US has embarked on a "secret killing program" in Iraq which has dramatically reduced attacks on coalition troops by wiping out terrorists, but what could this secret weapon possibly be?
 
    A 3rd US missile strike in less than a week inside Pakistan again underscores the danger that the escalating war in Afghanistan will spread into its neighbour.
    The Bush administration's reckless determination to proceed despite the obvious political dangers highlights the desperate situation confronting the US inside Afghanistan, where American and NATO casualties are continuing to rise amid an escalating anti-occupation insurgency and widespread local opposition to the continued presence of foreign troops.
 
    Pakistan is now the primary target of British destabilization policy, and this is having an enormous effect on Afghanistan, on India's security, and, in the medium term, on Iran.
    The resignation of President Musharraf, at British and Saudi instigation, which then received Bush Administration blessing, has enormously heightened that country's instability.
 
 
 
    A powerful earthquake struck southern Iran on Wednesday near Bandar Abbas, a major Iranian port with oil installations including a refinery.
 
    Prime minister Ehud Olmert summoned defense minister Ehud Barak and foreign minister Tzipi Livni for an urgent consultation on Iran today, as the USS Theodore Roosevelt aircraft carrier headed out to the Mediterranean for missions "in support of maritime security."
 
 
 
    Much of America's foreign policy since 9/11 has been based on the assumption that it was attacked by Muslims on that day.
 
    As the 7th anniversary of the 9/11 attacks nears, Homeland Security agents are on heightened alert for young Turkish Muslims who may be trying to enter the US as part of an al-Qaida terrorist operation.
 
    The apprehension of Bin Laden would virtually guarantee a victory for John McCain and the Republican party.
 
    At the Wasilla Assembly of God Church, Sarah Palin's former pastor sees powerful signs that the end of the world is nigh.
 
    Al Jazeera speaks to Howard Zinn, the author, American historian, social critic and activist, about how the Iraq war damaged attitudes towards the US and why the US "empire" is close to collapse.
 
 
 
    Beleaguered Wall Street bank Lehman Brothers has effectively put itself up for sale following weeks of intense scrutiny over the state of its finances.
    The 158-year old bank also outlined a drastic plan to shrink into a shadow of its former self by selling off core assets after racking up a record $3.9bn 3rd quarter loss because of the credit crisis.
    Lehman, once the biggest underwriter of US mortgage-backed securities, saw its shares tumble 45% on Tuesday amid renewed fears over its ability to raise extra capital.
 
    A rising yuan is the same thing as a falling dollar, and the dollar, just like anything else, will fall if there are more sellers of it than buyers, if supply exceeds demand. Therefore, the People's Bank of China has been acting to buy lots of those loose dollars on the markets, attempting to keep the yuan's rise at least orderly.
    And what are they doing with all the dollars accrued with their currency market interventions? Well, mostly, they're buying US government-guaranteed notes and bonds; that includes, according to Marketwatch, $376 billion of Fannie and Freddie Mortgage Backed Securities.
 
    The US government takeover of the mortgage finance giants Fannie Mae and Freddie Mac has dealt a shattering blow to the ideology of market capitalism, which has been used for decades to justify a relentless assault on the working class and a vast transfer of wealth to the American ruling elite.
    The endless invocations of the virtues of private enterprise, individual entrepreneurship and self-reliance, used to demonize socialism and defend a system that exploits the vast majority for the benefit of a financial elite, have been exposed as frauds.
    When it comes to big capital, losses are socialized, and profits remain private.
 
    The government's claim that this is being done to protect housing is a fraud—this is bailout of the banking system, pure and simple.
 
 
     In an unexpected decision made after a 6-hour meeting that lasted well into the night, the OPEC oil cartel said it would reduce its oil production by about half a million barrels a day in a bid to stem a rapid decline in oil prices in recent weeks.
 
 
[Latest edition of The Religion WAR]
 
    Scientists have hailed a successful switch-on for an enormous experiment which will recreate the conditions a few moments after the Big Bang. CERN has not yet announced when it plans to carry out the first collisions, but these are expected to happen before the machine shuts down for winter.
 
 
 

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