News 2 Me

The only gunman captured of the terrorist attacks in India is claiming to be a part of a Pakistani militant group. India better not jump the gun too fast. There are many caveats to consider. How truthful is this man being? Could he be working a plan the group had all along, should they be captured? Is there goal to heighten tension between India and Pakistan even further. These two countries have fought before, many times, and one more time may be the killer.

Even if this man is being truthful, India must keep in mind that this group does not represent the Pakistani government. The Indian government must be willing to reach out with very little hostility. It would be nice if Pakistan helped willingly, to further prove they condemn such acts, and did not challenge accusations from India. That is what the terrorists want, more turmoil. Make use of the suspect they have, but stay in control.

http://www.msnbc.msn.com/id/27951773/

Ayman al-Zawahri, who had some highly controversial words to say after Barack Obama won the election, has given a new message. What is his advice for handling the economic crisis? Embrace Islam! He connects the current mess to the attacks of September 11. He is advocating the following of Islamic principles to shun usury, “a life free of greed, exploitation and forbidden wealth.”

He went on to dare President Bush to send more troops into the Middle East, which will not happen at the hands of Bush anyway, if at all. The U.S. will not be stupid enough to bend to his words that easily. It is still, however, a shot to the nation’s pride. He also went on to play down the success if the U.S. in the region, claiming the U.S. is using fake reports of success and any success it is having in Iraq will only be temporary. He even blasted the Egyptian government for the blockade on the Gaza Strip. Ayman al-Zawahri called for students and workers to hold a strike to help lift the blockade. How influential he really is will be seen in time.

I hope everyone who celebrates the holiday enjoyed it, and even those who do not had a good day. With economic problems in the U.S., the explosion of terrorism recently in India, and so many other problems, it may be difficult for some.

I know many people are cutting down on the extravagance of the feast to save a bit. For one thing, I did not have turkey today. Not supposedly because chicken is cheaper, but because it cooks faster. It does not bother me that much.

Tomorrow should be a good day for consumers. Hopefully that will help give the economy a small additional push. It will not save the big financial institutions, but it will get money circulating for sure. So buy!

It happens every year. It never fails. Thanksgiving is tomorrow. Maybe it is because Thanksgiving was never that big of a deal for me, but it seems even less spectacular this year. I just have a feeling deep inside that it may have meant more to me if it was during a better time of year. Freezing weather is approaching, skies are grey when I go outside, and things just seem to be slowing down. For some reason, the Christmas atmosphere, which is even less uplifting in terms of the weather, just seems to make the joyfulness and the togetherness more natural. A few drops of snow have that impact for me. But now, things are getting cold, but the snow is not here for me yet. It is a transition period away from the warmth and into the freezer. That is where the shock and gloom is for me, and why I can never enjoy this holiday.

The same may be true for others, especially this year. Less travelers are expected this year, but after everything else that has been going on, is it really a surprise? People do not want to waste money traveling. The economy is causing another issue. Less people are mailing packages, going to the hospital, supporting smaller colleges, and a ton of other things that they would normally do in regular circumstances. This will hurt the travel industry for sure. I am not directly impacted by this, but it is another worry to hang on one’s mind.

I said not too long ago that all this government spending to supposedly help the economy could soon cause a huge problem. Now I have some numbers to work with, thanks to a recent article.

http://www.msnbc.msn.com/id/27905165/

The national debt is at $10.6 trillion, just a little less than double what it was in 2000. Instead of things getting better, things have gotten worse. No surprise really, if you consider the spending for the war and other things in the months even prior to the economic crisis now. The article does a good job of separating where some of the spending is going.

Another thing to note, the federal deficit for the last fiscal year was $455 billion. Compare that to $161.5 billion in 2007. The deficit has almost tripled. Bailouts will surely continue, stimulus packages will require more spending, and various taxes may not be raised to a sufficient level. All this will lead to the deficit and national debt increasing. Who will give the government a bailout?

After flying back from Peru on Sunday, President Bush voiced his approval of the government’s rescue of Citigroup, even saying such action to protect the economy is needed to “safeguard our financial system in the future.” He has been busy as of late, primarily with the top concern of the nation, the economy. Of all the things he could advocate, however, he is promoting government involvement in big business. That does not exactly sound like pure free trade to me.

While some may agree that more bailouts like this are needed, I only agree that more situations that will require bailouts are coming. But how many can you help? Not all the plans will involve $20 billion, but every billion does count. Can the government handle all this? I know people are saying that tax payers will feel the sting, but I am not feeling it yet. Will they raise taxes to an insane level? Cut spending in other areas? If they deplete reserves too much, and a national crisis occurs, outside the economic one, can they handle it? I am just saying that they should not be too willing to help these businesses. Help those who did try on their own to act cautiously and wisely. Be aware of those who take risks and just assume they will be helped when they fail.

Citibank has not been doing too well to say the least. Its stocks are down to $3.77. It now plans to put risky assets into a “bad bank” to save itself to some degree. The government will have to get involved once again. It does not seem that bankruptcy will occur anytime soon, as depositors and partners are sticking with the financial organization. All that can change, however, if they do not act now, before markets open again on Monday. They then may join a long list of companies that have fallen this year alone.

Why am I especially interested in this news? I have my checking and savings account with Citibank, as well as the mortgage of the home. What will happen if things get worse for them? Will they be bought out by another bank? Does the government really have enough to save them? Even if Citi is saved, who will have to take the hit for them? Things are definitely getting worse before they get better.

Former President Jimmy Carter, former U.N. Secretary-General Kofi Annan, and Graca Machel, the wife of Nelson Mandela, were all denied entrance into the poor nation of Zimbabwe yesterday. They were going to address humanitarian needs, such as disease and hunger among political turmoil. The group still hopes to help as best they can, but the government of Zimbabwe is not cooperating.

I wanted to take this opportunity to do more than just summarize the problems Carter, Annan, and Machel met. I also want to say how much I have to respect Jimmy Carter. He won the presidency decades ago on a platform of revolutionary change. Many, even to this day, did not appreciate the horrible mess he had inherited and the means he went about fixing it. I am not saying everything he did was flawless, he is only human, and he did what he had to. Just speaking about issues in Latin America, human rights were being violated greatly. What could be worse than that? The U.S., for decades, was supporting the regimes who committed these deeds. This is the world Jimmy Carter had to deal with and he helped to bring these issues into the forefront, and to this day, he is still doing it. He has not gotten younger in the last few years, so it impresses me even more. He is far from the worst U.S. President there ever was, and even if that is untrue, he is making up for it. He could have easily retired to a life of leisure, but the path he did choose gets my respect. As the years go on, it will become more and more unlikely that he will run for his former position of power over the U.S. again, but if he did, I would probably shake off my disillusionment with the American political system, and actually go out there to vote. I think he has done a good job in gaining respect, shown he has an eye for important values, and proven that age does not slow him. He may not win in a landslide, but I believe he will have some support from an America that is leaning more left. Should it never happen, Jimmy Carter is still following his life’s calling.

General Motors will return two of those jets that caused so much controversy and criticism recently. I understand how traveling in such a way is bad symbolically when you are trying to plead a case for a loan, but I just can’t help but think how idiotic the whole thing is. GM is foolish for making such a blatant mistake, but the politicians are also foolish for pressing the matter this much. Yes, it is a bad sign when you can afford private jets but can’t save your own company, but a lot more is at stake. Jobs are on the line, investments, the economy, the livelihood of countless people. This is no time for the politicians to point fingers and criticize when a serious decision must be made. If not the bailout, something must be planned beyond condemning private jets. That will do not much good in the end. And this is no time for GM to play with their jets and then put them away when the government says so. Keep focused. If the government asks for free cigars next, will they give them that? If they ask them to take of their pants, will they do that too? This is no time for weakness. Both sides must stay focused on what matters and work together, not against each other. There are more things on the line than individual interests.

The S&P has hit an 11-year low, the Dow continues to collapse, and an auto bailout, whether it happens or not, will just be a drop in the ocean in possibly fixing it all. It does not help that the nation is in a transitional period, as Bush is on his way out and Obama is coming in. The good news is that many stocks are becoming cheaper, so if you are talented on the economic poker table, you can invest in those you believe will rebound sooner or later. The bad news is that you can try it and things can get a lot worse before they get better, or the company you may take the risk with may go bankrupt. I will admit that I did not believe that the crisis would get this far. Since it has, I believe things will not get better soon. Obama will have a ton to worry about from the economy alone.