konane's Blog

"Senate Leader Took Free Boxing Tickets

Lemme see .... this is the same fairhaird darling that said anti-immigration was "racist."

Via Drudgereport.com who digs dirt on them all .............  following the crumb trail.


"Senate Leader Took Free Boxing Tickets
May 29 2:16 PM US/Eastern

By JOHN SOLOMON
Associated Press Writer


WASHINGTON

<excerpt>
"Senate Democratic Leader Harry Reid accepted free ringside tickets from the Nevada Athletic Commission to three professional boxing matches while that state agency was trying to influence him on federal regulation of boxing.

Reid, D-Nev., took the free seats for Las Vegas fights between 2003 and 2005 as he was pressing legislation to increase government oversight of the sport, including the creation of a federal boxing commission that Nevada's agency feared might usurp its authority."

http://www.breitbart.com/news/2006/05/29/D8HTJL7O1.html

Entry #344

"Rate Your Risk test

Giving credit where due, got this link off the Free Republic site.  Very interesting test to assess your risk.


"Rate Your Risk

by Ken Pence

http://www.rateyourrisk.org/

"Crime exists. Your vulnerability cannot be ignored. Threat assessment is a means for you to calmly evaluate your risks. The following tests will let you realistically determine your chances. No one but the person looking over your shoulder will have access to any information you temporarily use to determine your risks. Close the door when you take the rape, robbery, stabbed, shot, beaten test so you give yourself a fair assessment. These tests give you a "ballpark estimates" on your risk and are meant to entertain while educating.

Take this test alone so your answers will be unbiased

"Are you going to be raped, robbed, stabbed, shot, or beaten?" Test

"Are you going to be murdered?" Test

"Is someone going to break in and burglarize your home?" Test

by Ken R. Pence
Entry #343

Pay Pal PHISHING email

I've had a Pay Pal account for about 4 years with absolutely no problem and plan to continue using Pay Pal. 

However lately it has become the target of PHISHING where "official looking" emails come saying they're going to suspend the user's account, blah, blah, blah ..... if you DON'T UPDATE YOUR PERSONAL INFORMATION ..... and they so courteously supply a link for you to do just that. 

Am putting this email received this morning below so anyone reading this blog can get an idea of WHAT NOT TO RESPOND TO. 

Instead if you have a Pay Pal account simply launch your browser and go to https://www.paypal.com/ , plug in your sign in information and check it for yourself. 

PHISHING has become so common that I've gotten emails to update bank account with banks I don't and never have had an account with ...... so crooks will try anything no matter what you do on the net.


SPOOF PHISHING "PAY PAL" EMAIL which you NEVER click the link on, NEVER reply to.  Simply delete. 

Pay Pal NEVER sends out emails like this asking you for personal information.  Have forwarded many Spoof emails to them which reply with just that information.

__________________

"Dear PayPal Valued Customer,

PayPal is committed to maintaining a safe environment for its community of buyers and sellers. To protect the security of your account, PayPal employs some of the most advanced security systems in the world and our anti-fraud teams regularly screen the PayPal system for unusual activity.

We are contacting you to remind you that on May, 28, 2006 our Account Review Team identified some unusual activity in your account. In accordance with PayPal's User Agreement and to ensure that your account has not been compromised, access to your account was limited. Your account access will remain limited until this issue has been resolved.

In order to secure your account and quickly restore full access, we may require you to verify or update your Personal Information.
If you choose to ignore our request, you leave us no choice but to temporary suspend your account."

 

<LINK> 

 
Entry #342

More good news ...

I personally hope the senate  Stooges   Stooges  Stooges  Stooges  Stooges hits such a roadblock their heads are permanently flat like a stupid looking smiley. 

_____________________

Quoted from Poweline in full below.  Live links.


 

"The Washington Post reports this morning that prospects for the Senate's immigration package are dimming, due to House members' concerns about November's election:

Republican House members facing the toughest races this fall are overwhelmingly opposed to any deal that provides illegal immigrants a path to citizenship -- an election-year dynamic that significantly dims the prospects that President Bush will win the immigration compromise he is seeking, according to Republican lawmakers and leadership aides.

Speaker J. Dennis Hastert (R-Ill.) will not allow a vote on a House-Senate compromise that does not have the support of most GOP lawmakers or one that would undermine the reelection chances of his at-risk members, aides said. According to GOP lawmakers and strategists, about 75 percent of the 231 House Republicans are steadfastly opposed to the Senate bill or even a watered-down version of it.

 

The Post's article cites poll's that supposedly show strong support for the administration's plan, but, as one House member says, "they must not be polling anyone in [my] District."

The Post's reporters clearly think it's unfortunate that the House may be knuckling under to the wishes of the voters:

Many senators, by contrast, represent more diverse populations and are therefore more sensitive to the concerns of Hispanics. Moreover, only one-third of senators face reelection this fall, so it is easier for them to ignore the short-term Republican politics, which are dominated by concerns about any program that resembles amnesty for illegal immigrants.

The Post says "short-term Republican politics," when what it means is, the will of the American people.

Posted by John at 08:54 AM  "
Entry #341

'Amnesty' jams compromise bill

'Amnesty' jams compromise bill

By Jerry Seper and Stephen Dinan
Source  THE WASHINGTON TIMES

"One of the top House negotiators on immigration said yesterday the only way a final compromise bill can pass is if the Senate drops its path to citizenship for current illegal aliens, even as Sen. John McCain announced plans to try to broker a deal.
    Rep. F. James Sensenbrenner Jr., chairman of the House Judiciary Committee, said he is willing to accept a temporary-worker program for future workers, but citizenship for illegal aliens -- which he said definitely constitutes "amnesty" -- is out.
    "A guest-worker program I think can be on the table if it does not contain an amnesty, but only if the employer sanctions and the increased border patrols are effective," the Wisconsin Republican said.
    It's not just Mr. Sensenbrenner. House Republicans are lining up behind him in their opposition to the Senate bill, including Rep. Charlie Norwood, Georgia Republican, who said it "constitutes treachery against U.S. sovereignty" and called it "dead on arrival in the House."
    "The U.S. Senate voted to sell out the American people to vested and foreign interests with passage of a bill granting not only amnesty, but preferential treatment of illegal aliens over American citizens," Mr. Norwood said.
    Meanwhile, two members of the Republican Main Street Partnership, a group of moderate to liberal Republicans, said they will try to broker a deal on their own.
    Mr. McCain, the Arizona Republican who was a driving force behind the Senate's bill, and Rep. Michael N. Castle, Delaware Republican, announced they already have begun meeting to try to reach an agreement.
    The Senate on Thursday passed its broad immigration bill, which offers a chance for citizenship to millions of illegal aliens, increases legal immigration, creates a separate program for future foreign workers, builds 370 miles of fencing on the border, and approves hiring thousands of new border and interior law-enforcement personnel.
    The House in December passed an immigration bill that focuses on enforcement including 698 miles of fencing, thousands of new enforcement officers, a system to check for employers to verify that both current and future employees are legally able to work, and a provision extending criminal penalties to cover all illegal aliens and raising the crime to a felony.
    The Senate bill passed on the strength of Democratic votes, 62-36. Four Democrats and 32 Republicans -- a majority of the Senate Republican Conference -- voted against it. The House bill passed 239-182, with 17 Republicans and 164 Democrats opposing it.
    From the White House standpoint, press secretary Tony Snow said the administration has done what it could to take the border-security objection off the table, and have now "gotten past that important benchmark."
    "Border enforcement starts the first full week of June. It's already happened," Mr. Snow said, referring to the deployment date for the first of up to 6,000 National Guard troops President Bush wants sent to the border. "What the president has proposed is far more aggressive and robust than anything that had been considered by either house." ...............
Entry #340

CBS wrong again ..

Was going to let this shake out as the Justice Department investigates, buuuuuut picked up this CBS faux pas on another site. 

They have this DEMOCRAT NOT REPUBLICAN AS REPORTED BELOW on tape accepting $100,000 in bribery money.   

Can't anyone at CBS Google anything???

 


"Gonzales And Mueller Hinted At Resignation In Battle With Congress

May 27, 2006
(CBS/AP) Attorney General Alberto Gonzales and FBI director Robert Mueller signaled they would resign this week rather than give in to Congress in a dispute over an FBI raid on Rep. William Jefferson's Capitol Hill office, an administration official tells CBS News.

Top law enforcement officials at the Justice Department and the FBI indicated to their counterparts at the White House that they could not, and were unwilling to, return documents to the Louisiana Republican which were seized as part of a bribery investigation.

CBS News has learned that there was concern among prosecutors and FBI agents that the White House would give in to Congressional pressure and return the materials to Jefferson. But, according to the administration official, Mueller, Gonzales and his top deputy Paul McNulty made it clear that they "going to the final end of the mat" to keep them."
______________
"Mr. Jefferson is the first African American elected to serve in Congress from the State of Louisiana. As a member of the Democratic Party's Steering Committee and also as a Deputy Whip at-large, he is an active participant in the Democratic Party leadership and in developing legislative strategy. He is also a member of the Board of Directors of the Democratic Congressional Campaign Committee."
Entry #339

Isn't this amazing?

Just got this in email. 


>>      Isn't this amazing?
>>
>>
>>
>>        TAXES
>>
>>        Accounts Receivable Tax
>>
>>        Building Permit Tax
>>
>>        Capital Gains Tax
>>
>>        CDL license Tax
>>
>>        Cigarette Tax
>>
>>        Corporate Income Tax
>>
>>        Court Fines (indirect taxes)
>>
>>        Dog License Tax
>>
>>        Federal Income Tax
>>
>>        Federal Unemployment Tax (FUTA)
>>
>>        Fishing License Tax
>>
>>        Food License Tax
>>
>>        Fuel permit tax
>>
>>        Gasoline Tax (42 cents per gallon)
>>
>>        Hunting License Tax
>>
>>        Inheritance Tax Interest expense (tax on the money)
>>
>>        Inventory tax IRS Interest Charges (tax on top of tax)
>>
>>        IRS Penalties (tax on top of tax)
>>
>>        Liquor Tax
>>
>>        Local Income Tax
>>
>>        Luxury Taxes
>>
>>        Marriage License Tax
>>
>>        Medicare Tax
>>
>>        Propert y Tax
>>
>>        Real Estate Tax
>>
>>        Septic Permit Tax
>>
>>        Service Charge Taxes
>>
>>        Social Security Tax
>>
>>        Road Usage Taxes (Truckers)
>>
>>        Sales Taxes
>>
>>        Recreational Vehicle Tax
>>
>>        Road Toll Booth Taxes
>>
>>        School Tax
>>
>>        State Income Tax
>>
>>        State Unemployment Tax (SUTA)
>>
>>        Telephone federal excise tax
>>
>>        Telephone federal universal service fee tax
>>
>>        Telephone federal, state and
>>
>>          local surcharge taxes
>>
>>        Telephone minimum usage surcharge tax
>>
>>        Telephone recurring and non-recurring charges tax
>>
>>        Telephone state and local tax
>>
>>        Telephone usage charge tax
>>
>>        Toll Bridge Taxes
>>
>>        Toll Tunnel Taxes
>>
>>        Traffic Fines (indirect taxation)
>>
>>        Trailer Registration Tax
>>
>>        Utility Taxes
>>
>>        Vehicle License Registration Tax
>>
>>        Vehicle Sales Tax
>>
>>        Watercraft Registration Tax
>>
>>        Well Permit Tax
>>
>>        Workers Compensation Tax
>>
>>
>>
>>        COMMENTS:
>>
>>      Not one of these taxes existed 100 years ago and our
>>      nation was the most prosperous in the world, had absolutely no
>>      national debt, had the largest middle class in the world and only
>>      one parent had to work to support the family.
>>
>>
>>        What the hell happened
>>

Entry #338

"House panel backs Internet gambling limits

Looks as if it may be sooner than later.



"By ERICA WERNER
"Associated Press Writer

<excerpt>

 

"House panel backs Internet gambling limits


MAY. 25 5:17 P.M. ET A House panel voted Thursday to crack down on the $12 billion Internet gambling industry by applying federal prohibitions to games like online poker, blackjack and roulette.

The legislation would amend the 1961 Federal Wire Wager Act to explicitly prohibit online gambling. It also would outlaw electronic transmission of funds to pay for gambling bets, give law enforcement agencies authority to block such money transfers, and increase penalties for violation of the law.

Although the Justice Department has taken the position that the Wire Act already prohibits online gambling in the U.S., there is disagreement about that. Most of as many as 2,300 online gambling sites in existence are overseas. "......................

http://www.businessweek.com/ap/financialnews/D8HR1U3G0.htm?campaign_id=apn_home_down&chan=db

Entry #337

"Questions for Al Gore

"Questions for Al Gore
By Dr. Roy Spencer
Source Tech Central Station Daily

Dear Mr. Gore:

I have just seen your new movie, "An Inconvenient Truth," about the threat that global warming presents to humanity. I think you did a very good job of explaining global warming theory, and your presentation was effective. Please convey my compliments to your good friend, Laurie David, for a job well done.

 

As a climate scientist myself -- you might remember me...I'm the one you mistook for your "good friend," UK scientist Phil Jones during my congressional testimony some years back -- I have a few questions that occurred to me while watching the movie.

 

1) Why did you make it look like hurricanes, tornadoes, wildfires, floods, droughts, and ice calving off of glaciers and falling into the ocean, are only recent phenomena associated with global warming? You surely know that hurricane experts have been warning congress for many years that the natural cycle in hurricanes would return some day, and that our built-up coastlines were ripe for a disaster (like Katrina, which you highlighted in the movie). And as long as snow continues to fall on glaciers, they will continue to flow downhill toward the sea. Yet you made it look like these things wouldn't happen if it weren't for global warming. Also, since there are virtually no measures of severe weather showing a recent increase, I assume those graphs you showed actually represented damage increases, which are well known to be simply due to greater population and wealth. Is that right?

 

2) Why did you make it sound like all scientists agree that climate change is manmade and not natural? You mentioned a recent literature review study that supposedly found no peer-reviewed articles that attributed climate change to natural causes (a non-repeatable study which has since been refuted....I have a number of such articles in my office!) You also mentioned how important it is to listen to scientists when they warn us, yet surely you know that almost all past scientific predictions of gloom and doom have been wrong. How can we trust scientists' predictions now?

 

3) I know you still must feel bad about the last presidential election being stolen from you, but why did you have to make fun of Republican presidents (Reagan; both Bushes) for their views on global warming? The points you made in the movie might have had wider appeal if you did not alienate so many moviegoers in this manner.

 

4) Your presentation showing the past 650,000 years of atmospheric temperature and carbon dioxide reconstructions from ice cores was very effective. But I assume you know that some scientists view the CO2 increases as the result of, rather than the cause of, past temperature increases. It seems unlikely that CO2 variations have been the dominant cause of climate change for hundreds of thousands of years. And now that there is a new source of carbon dioxide emissions (people), those old relationships are probably not valid anymore. Why did you give no hint of these alternative views?

 

5) When you recounted your 6-year-old son's tragic accident that nearly killed him, I thought that you were going to make the point that, if you had lived in a poor country like China or India, your son would have probably died. But then you later held up these countries as model examples for their low greenhouse gas emissions, without mentioning that the only reason their emissions were so low was because people in those countries are so poor. I'm confused...do you really want us to live like the poor people in India and China?

 

6) There seems to be a lot of recent concern that more polar bears are drowning these days because of disappearing sea ice. I assume you know that polar bears have always migrated to land in late summer when sea ice naturally melts back, and then return to the ice when it re-freezes. Also, if this was really happening, why did the movie have to use a computer generated animation of the poor polar bear swimming around looking for ice? Haven't there been any actual observations of this happening? Also, temperature measurements in the arctic suggest that it was just as warm there in the 1930's...before most greenhouse gas emissions. Don't you ever wonder whether sea ice concentrations back then were low, too?

 

7) Why did you make it sound like simply signing on to the Kyoto Protocol to reduce our greenhouse gas emissions would be such a big step forward, when we already know it will have no measurable effect on global temperatures anyway? And even though it represents such a small emission reduction, the economic pain Kyoto causes means that almost no developed country will be meeting its emission reductions commitments under that treaty, as we are now witnessing in Europe.

 

8) At the end of the movie, you made it sound like we can mostly fix the global warming problem by conserving energy... you even claimed we can reduce our carbon emissions to zero. But I'm sure you know that this will only be possible with major technological advancements, including a probable return to nuclear power as an energy source. Why did you not mention this need for technological advancement and nuclear power? It is because that would support the current (Republican) Administration's view?

 

 

Mr. Gore, I think we can both agree that if it was relatively easy for mankind to stop emitting so much carbon dioxide, that we should do so. You are a very smart person, so I can't understand why you left so many important points unmentioned, and you made it sound so easy.

 

I wish you well in these efforts, and I hope that humanity will make the right choices based upon all of the information we have on the subject of global warming. I agree with you that global warming is indeed a "moral issue," and if we are to avoid doing more harm than good with misguided governmental policies, we will need more politicians to be educated on the issue.

 

Your "Good Friend,"

 

Dr. Roy W. Spencer
(aka 'Phil Jones')

http://www.tcsdaily.com/article.aspx?id=052506C

Entry #336

A win/win for the planet

Setting the immigration issue aside momentarily I believe in giving full credit where it's due. 
This has been and will be a win/win for the planet.
And NO it has NOT and will NOT be covered by the lamestream media because their regurgitating agenda as news is far too important. 

 
"The Media's Know-Nothings
By Duane D. Freese
Source Tech Central Station Daily

"Nothing isn't what it used to be.

 

Washington Post columnist Sebastian Mallaby recently reviewed Al Gore's movie "An Inconvenient Truth." He argued that President Bush "refused to let his administration do anything about climate." And last month New York Times columnist Paul Krugman made the same claim: "most governments have done little to curb greenhouse gases, and the Bush administration has done nothing ..."

 

One is tempted to ask whether they are being Clintonesque, with nothing depending upon their definitions of nothing. But assuming they were being honest, one can only wonder where they gathered their evidence that the Bush administration was doing nothing.

 

Obviously it was not from reading Gregg Easterbrook in The New Republic, who in February last year, wrote: "[T]he notion that Bush has done nothing at all about greenhouse gases can only be sustained if you ignore what he has done."

 

What has that been? Easterbrook was writing about a program called Methane to Markets, which the Bush administration negotiated among several countries in 2004. He noted that most news outlets didn't report a thing about it. Yet, the program promises a reduction in methane -- a greenhouse gas 23 times more powerful than the carbon dioxide that is the focus of most news reporting -- equal to the reductions in greenhouse gases from the more heralded Kyoto Protocol.

 

One of the fruits of the methane to markets program came last week. China, a chief emitter of methane from its coal mines, has signed an agreement to buy 60 methane generators from Caterpillar Inc. for $58 million. The generators will take in the methane from its largest coal mine, reducing explosions and improving safety and health in the mines while providing 120 megawatts of electricity with reduced greenhouse gas emissions.

 

Neither the Post nor the Times thought that worthy of reporting, nor did most other mainstream media outside of the business press. After all it's a "good news" story -- a kind of win-win-win-win scenario for health, safety, economics and the environment that the mainstream media are loath to report.

 

And besides, how can you write about the fruit of a program that you've barely acknowledged exists? The Post provided but one brief story about it on its inside pages back in November of 2004, and then gave it mention in a little science brief about a Princeton study that found "reducing emissions of methane ... by 20% from current levels would prevent an estimated 370,000 premature deaths worldwide between 2010 and 2030." And that's nothing compared to The New York Times reporting, which about methane to markets amounted to nothing googleable at all.

 

All of which may explain the frustration of James Connaughton, President Bush's chairman of the Council on Environmental Quality at a presentation at the American Enterprise Institute the day Mallaby's column appeared. He said he felt like asking the administration's critics such as Mallaby: "What part of 'yes' don't you understand?"

 

He said there is no longer any debate going on in the administration about the science of climate change nor that there is human contribution to warming. He said there is even consensus among policymakers here and abroad on the scope of action and places where it's needed and the type of arrangements required to help limit that contribution.

 

Connaughton pointed to 60 federal programs "designed to help reduce emissions by 500 million metric tons of carbon-equivalent (greenhouse gases) through 2012;" voluntary programs, such as Climate VISION, that aim to reduce carbon intensity -- the amount of carbon emissions for a given amount of economic activity -- by 18% by 2012; and federal spending on climate change programs of $26 billion since Bush came into office, about half of which has gone to researching new technology.

 

Where the administration runs afoul of its critics' demands -- and is considered to be doing nothing -- is in the promotion of caps on carbon emissions. The critics want to force carbon-emitting industries to cap emissions and then allow those who reduce their emissions below their cap to sell credits to those who fail to meet them. But such cap and trade schemes would do little to reduce greenhouse gas emissions. Without China and India participating, costly carbon caps will prompt the movement of industrial emissions abroad -- where they will likely be spewed out in greater amounts through dirtier technology.

 

That is something that the Mallabys and Krugmans and most environmentalists overlook -- you can't force these countries to do what you want. You have to understand their economic and moral need to lift millions of people out of poverty quickly. They will put this goal ahead of reducing greenhouse emissions any day. And who can blame them? Further, from a political standpoint, you aren't going to get far with significant carbon curbs if they hurt your own economy, a fact that helps to explain why the Clinton administration did less than the Bush administration on climate change, if you look at the record.

 

What can do something to influence what is going on in China and India? As Connaughton pointed out, you can make a deal with them to provide them cleaner, better, safer, healthier, more advanced technology -- if they agree to protect the intellectual property of those who invent that technology. And you can seek to ensure that you don't wipe out incentives here for the development of the kind of clean technology they might buy -- in particular clean coal. You want coal cleaned up as a source of electricity, so as to pass on the technology to coal-dependent nations such as China and India. But it is unlikely these clean-coal technologies will develop if carbon caps force utilities to switch to natural gas.

 

What's more, recent real-world experience with carbon caps undercuts the arguments of the administration's critics. Canada has indicated it won't meet its caps under Kyoto, and Europe is heading toward failure as well.

 

Meanwhile, Bush's sweet nothings of Methane to Markets, his Asian Pacific Partnership on Clean Development and Climate Change (AP6), and his promotion of investment in technological development here and its spread through free trade and intellectual property protection abroad are producing measurable gains already with the China-Caterpillar deal.

 

Of course, don't expect to hear about those gains from Mallaby or Krugman or the rest of mainstream major media. Much like Sergeant Schulz, the guard in Hogan's Heroes who turned a blind eye to the POW's shenanigans, saying, "I know nothing! Nothing!" so he didn't have to report them to Colonel Klink, so they maintain a willful ignorance of the administration's climate activities so as not to complicate their case that the administration is doing nothing -- see nothing positive, hear nothing positive, report nothing positive.

Duane Freese is Deputy Editor of TCS Daily.

http://www.tcsdaily.com/article.aspx?id=052506B
Entry #335

Recommended reading .....

This is posted in full directly from Powerlineblog.com.  This message is too important to post excerpts. 


"What the Base Thinks

 

"The Bush administration and Republican Senators have badly misjudged both the attitudes of most Republicans (and, of course, most Americans) toward illegal immigration, and the intensity of those views. While we have opposed the Senate plan, we have been pretty mild-mannered about it. So I'm turning the microphone over to my friend Bob Cunningham. No one I know of argues immigration-related issues more cogently. Equally important, no one I know of conveys the white-hot anger and sense of betrayal that millions of Americans feel about this issue more effectively.

We know that this site is widely read in the White House and in Congress. To all Republicans in Washington: please, please read what follows with care, and understand that Bob speaks for most Americans and the overwhelming majority of Republicans:

Here's what they're missing, and it is the principal reason, in my opinion, WHY the anti-ILLEGAL forces are so upset -- and so powerful.

It has to do with the bad faith, calculated deceit, Orwellian propaganda, dishonest sophistry, misdirection, arrogance, presumption, indifference to, and, indeed, contempt for the beliefs of huge numbers of ordinary Americans -- including LEGAL immigrants and Hispanic natives! --- on the part of political/media elites.

Let's recognize that the political process has --- democratically --- designated the illegals AS illegal. Why? Because we, as a nation, decided that their presence -- NOT themselves per se (as the false attribution of racism would have it) --- but their presence in such numbers for such purposes (the phony Jobs Americans Won't Do/Jobs Americans Are Not Doing) is undesirable. There are perfectly reasonable grounds for that judgment. When did we vote for the Mexification of America? ANS.: NEVER....Indeed, going back to the 1965 immigration "reforms", assurances were REPEATEDLY given (Kennedy) that such reforms would NOT lead to an influx or demographic change. And guess what? The burden of proof is NOT on the nation to justify this stance.

Period. Full stop. End of discussion.

Since these elites don't like that decision now they want us to accept a fait accompli..and more! They feel perfectly justified in collaborating in the subversion of our democratically enacted immigration regime --- with crass, narrow, economic special interests and with others having perhaps more sinister designs. Their objectives --- open borders, a free flow of cheap labor --- are plain now for all to see. Some no longer even bother to pretend otherwise.

Given that, there is NO REASON to believe ANY of their promises --- the "wall," enforcement of "tough" conditions for a "path to legalization/citizenship" or limits in a "tough and smart" "temporary" "guest workers" indentured servant-helot program. We also know that the very underlying rationale itself for "temporary" "guest workers" (the economically illiterate JAWD/JAAND) is in DIRECT CONTRADICTION to ANY arbitrary "limits"....Indeed, the very claim itself that deportation is "impossible" renders the enforcement promises self-refuting! We should all ignore the false promises and intentional non-feasance in the past?...and do I even have to mention the Simpson-Mazzoli fraud? "This time it's different"?....we REALLY mean it now?....

The ultimate retort of the immigration celebrationists --- let us call it the "immigrants are good people" argument --- is totally beside the point. It is an assertion that no one would disagree with, but it is also an argument that has NO internal LIMITING PRINCIPLE. There is, on its own terms, no non-arbitrary basis for excluding ANY ONE of the 6 billion non-Americans. Other than criminal disqualification, most of them, are, indeed "good people"....so what?

Well, we already decided the question of numbers and limits...and the political/media elites, in conjunction with the scofflaw employers, do NOT have standing to subvert the democratic decision made, upon deliberation, several times in reliance on what we now can see were plainly false promises.

Never again.

Posted by John at 03:17 PM  "
Entry #334

"Permanent Principles and Temporary Workers

"Permanent Principles and Temporary Workers
by Edwin Meese III and Matthew Spalding, Ph.D.
Backgrounder #1911

March 1, 2006 | |

 

In the continuing debate over immigration policy, lawmakers would do well to step back from the pol­itics of the moment and develop a clear, com­prehensive, meaningful, and long-term policy concerning immigration, naturalization, and citi­zenship that is consistent with the core principles, best traditions, and highest ideals of the United States.

As the United States Senate considers a temporary worker program as one aspect of that policy, it is important to review the principles that ought to guide this discussion and against which any proposed tem­porary worker program should be measured.

The Principles of Immigration

As previously established, four broad principles should guide United States immigration policy.[1]

The Consent of the Governed. The very idea of sovereignty implies that each nation has the responsibility-and obligation-to determine and defend its own conditions for immigration, naturalization, and citizenship. Individuals who are not citizens do not have a right to American residency or citizenship without the consent of the American people, as expressed through the laws of the United States.

National Security. A disorganized and chaotic immigration system encourages the cir­cumvention of immigration laws and is a clear invitation to those who wish to take advantage of our openness to harm this nation. Secure borders, especially in a time of terrorist threat, are crucial to American national security.

The Rule of Law. Immigration is no exception to the principle that the rule of law requires the fair, firm, and equitable enforcement of the law. Congress should require and provide resources to enforce immigration laws within the United States, and individuals unlawfully present in the United States should not be rewarded with amnesty.

Patriotic Assimilation. A successful immigra­tion policy must include and emphasize a delib­erate and self-confident policy that welcomes and assimilates permanent immigrants, with the goal being American citizenship. This may be a nation of immigrants, but it is more accurate to say that this is a nation where immigrants are Americanized, sharing the benefits, responsibili­ties, and attachments of American citizenship.

Guiding Principles for a Temporary Worker Program

The comprehensive reform of immigration pol­icy has little prospect of success unless it seriously reduces the growing number of undocumented workers and benefit recipients in the United States. Among the proposals designed to accomplish this goal is the creation of a temporary worker program that would be open to new foreign workers as well as illegal immigrants currently in the United States.

A balanced and well-constructed temporary worker program, by replacing the incentives for illegal immigration with an option for legal tempo­rary labor and (in combination with other reforms) reducing over time the current population of unlawfully present persons, would foster better national security and serve a growing economy. Such a temporary worker program would be a valuable and perhaps even necessary component of a comprehensive immigration reform proposal.

Nevertheless, reasonable enthusiasm for such a program in theory must be moderated by serious and realistic concerns not only about the failures of such programs in the past and in other countries,[2] but also regarding how a new program would likely be implemented and operate in practice.[3] That both the National Commission on Immigration and Refugee Policy and the U.S. Commission on Immigration Reform (chaired by the late Represen­tative Barbara Jordan), after extensive study of the matter, rejected a temporary or guest worker pro­gram for just these reasons should counsel some trepidation.[4] At the very least, policymakers must bear in mind during the lawmaking process that an ill-defined and poorly constructed temporary worker program would make the current problems of immigration policy much worse.

It is with great care and prudence, then, that law­makers should address the many thorny questions raised by a temporary worker program. In that pro­cess, policymakers should be guided not only by general principles, but also by several principles particular to a temporary worker program. These principles should be used to evaluate and judge any such proposals.

The first priority is national security. Con­gress must take steps to ensure that immigra­tion policy, or the lack of immigration policy enforcement, does not undermine national security; and, from a national security perspec­tive, preventing illegal entry and reducing unlawful presence in the United States is an imperative. A critical element of any reform proposal must be to build a "system of systems" that welds all of the nation's border assets into a single coherent security strategy-addressing the issue from the point of origin, in transit, at the border, and within the United States-and strengthens all of the activities, assets, and pro­grams necessary to enhance homeland secu­rity.[5] While recognizing that a temporary worker program could potentially contribute to the task of policing borders and coastlines, a comprehensive plan for integrated border secu­rity must be implemented and operational prior to any temporary worker program.

There should be no amnesty program for ille­gal immigrants. Regardless of the penalties imposed, any program that grants individuals who are unlawfully present legal permission to remain here rewards illegal behavior and is unfair to those who obey the law and go through the regulatory and administrative requirements to enter the country legally. Those who enter the United States illegally should not be rewarded with permanent legal status or other such benefits, and they should be penal­ized in any road to citizenship. The cost of changing one's status from illegal to legal is a change of condition from a permanent to a tem­porary presence in the United States. Unlaw­fully present individuals who voluntarily leave the United States, register with authorities before leaving through the US-VISIT program, have no criminal record, and agree to abide by the terms and requirements of a temporary worker program and the laws of the United States can then apply for legal entry to the United States without partiality or prejudice.[6]

A temporary worker program must be a tem­porary program. Participation in the program should be of defined and limited duration. If participation is renewable, there should be a substantive period of time in the home country between renewals; to be temporary, the pro­gram must not be indefinitely renewable. Indeed, policymakers must be confident that the program will remain temporary and that, at the end of program tenure, participants will return to their home countries. For those indi­viduals who are not present in the United States, applicants must demonstrate permanent foreign residence. For those that are currently here illegally, a temporary worker program should be seen as an attractive and legal avenue for them to reestablish permanent residence in their home country. In all cases, participants must show an intention to return to one's home country ("nonimmigrant intent"). In order to encourage this outcome, Congress should engage non-governmental organizations and stakeholders in establishing humanitarian sup­port programs to assist undocumented workers in returning to their home countries and could even create a national trust fund, based on vol­untary contributions, to assist in covering the expenses of returning undocumented workers to their home countries.

A temporary worker program should not undermine the preferred process of natural­ization. Policymakers should be concerned if the sheer size or lack of "temporariness" in a temporary worker program threatens to over­whelm the immigration process and create de facto permanent residents without permanent legal status. A temporary worker program must not be allowed to become merely a legal way to circumvent the rules and procedures of the nat­uralization process. This process must be pro­tected and should be strengthened, and the distinction between citizen and non-citizen (and between immigrant and non-immigrant) should be clarified rather than blurred.[7] Indeed, to the extent that the need is for a larger permanent working population in the United States, the policy preference ought not to be workers who are temporary, but assimilated immigrants who understand and are willing to take on the long-term responsibilities and obli­gations of citizenship.

A temporary worker program should be good for the American economy and as market-based as possible. Immigration has always contributed to the expansion of the American economy, and the goal of this particular pro­gram should be no different. In general, the economic benefits of the program must be understood to outweigh its costs. The best way to do that is for the operations of a temporary worker program to be as flexible and market-based as possible, in accord with basic princi­ples of free-market economic analysis.[8] It should not be micromanaged by government agencies, but should leverage the capacity of the private sector to develop innovative and effective ways of matching sponsoring employ­ers to eligible employees. As well, a temporary worker program should provide economic incentives for participants to abide by the rules of the program and return home at the end of their program tenure, for both the participant (perhaps in the form of withheld income or investment accounts) and the employer (per­haps in the form of a bond to control the flow of workers and promote compliance). The objec­tive should be to allow for a reliable and stable source of labor, but for that labor to be pro­vided by a dynamic and constantly changing temporary work force.

New programs should not encourage or exac­erbate illegal immigration. While recognizing the difficulty and challenge of finding and removing every illegal immigrant in the United States, Congress and the President must take credible steps to reduce illegal immigration in both annual and absolute terms. If for no other reason, policymakers should reject amnesty for illegal immigrants because it would encourage others to emulate illegal behavior and thereby increase rather than ameliorate the problem.[9] In considering new programs, policymakers must also recognize that any program that is vague or unenforceable, or that allows tempo­rary visitors or workers to disappear when their legal status expires, would not only mean a larger illegal immigrant community, but also invite new illegal immigration-and thus create an even larger public policy problem.

Serious immigration reform requires serious enforcement. What immigration policy needs- as any new program requires-is a clear and determined strategy to enforce all the rules. Immigration reform in general, and a temporary worker program in particular, must go hand-in-hand with a much stronger approach to dealing with violations of our immigration laws. This means credible workplace enforcement that imposes steep employer penalties for willfully violating immigration laws and, without requir­ing a new large federal bureaucratic program, tar­gets the largest employers of unlawful labor and the most egregious violators of immigration laws. Secure documents, biometric identification, and mandatory workplace verification would cer­tainly ease the burden on employees and employers to abide by the rules. Before pro­ceeding, policymakers must have the political will to insist on the rule of law.

A temporary worker plan should be family-friendly. Temporary workers in the United States should be encouraged to establish long-term residences, create stable households, and build families in the country of their permanent citizenship. Policymakers must recognize that for temporary workers to do so in the United States creates powerful conditions of perma­nency, placing the temporary worker, his family, and those obliged to enforce the law in a difficult and untenable situation. A family-friendly policy that respects and encourages permanent house­holds would break program participation into brief periods, with significant time between renewal for the temporary worker to reestablish ties to his or her permanent foreign residence. It would also permit brief family visits in the United States during periods of program partici­pation while clarifying that, consistent with the temporary nature of the program, children born to temporary workers while in the United States are not automatically United States citizens.[10]

A temporary worker program must be admin­istratively feasible and fully implemented. The infrastructure necessary for such a program, including the creation of a single integrated bor­der services agency, must be in place and work­ing before a temporary worker program is implemented. This is especially the case with those elements of the program (such as a biomet­ric identification registry, verification of identity and criminal security check with the partici­pants' home country, mandatory workplace ver­ification, and a system of secure documents) that contribute to the requirements of national secu­rity. Policymakers must have demonstrable con­fidence (based on system testing and pilot programs, for example) that the infrastructure and its system elements are able to manage a program of this size efficiently and accurately. A pilot program, perhaps based on the expansion and streamlining of existing non-immigrant work visa programs, is a reasonable and prudent policy prior to launching a new program of this magnitude.[11] Given the federal government's poor track record in consistently enforcing national immigration laws and providing the resources necessary to carry out its own policies, there should be measurable border security, internal enforcement and program infrastructure timetables, benchmarks, and goals that must be met in order to proceed with the implementation of a temporary worker program.

International cooperation requires agree­ments with participating countries. A tempo­rary worker program must include bilateral agreements between the United States and the participants' home countries. Such agreements would strengthen cooperation concerning verifi­cation of identity and background security; establish clear agreement to abide by (and encourage participants to abide by) the rules of the program and United States immigration laws; facilitate the return of those nations' citi­zens at the end of program participation; and reward nations that develop robust programs that assist in significantly reducing the unlawful population in the United States. In lieu of con­gressional legislation on the matter, such agree­ments should also clarify the citizenship status of children of program participants. Such agree­ments are also an opportunity to develop addi­tional incentives for temporary workers, such as allowing program participants to receive credit in their home countries' retirement systems, and generally encourage economic freedom and growth in the nations that these individuals have left for opportunities in the United States.[12]

Conclusion

It goes without saying that many aspects of immigration policy are divisive, splitting not only virtually every segment of political opinion, but also the American people generally. One of the most divisive and controversial aspects of the cur­rent immigration debate is the proposal for a tem­porary worker program. Just as any immigration reform package must be informed by the proper guiding principles, thereby balancing national security, economic interests, and the rule of law, so a temporary worker program-to be acceptable both in principle and in practice, and to contribute to the objectives of comprehensive immigration reform-must be consistent with those principles and thus with the best traditions and highest ideals of the United States.

Edwin Meese III is a Distinguished Fellow at The Heritage Foundation, where he holds the Ronald Reagan Chair in Public Policy. Matthew Spalding, Ph.D., is Director of the B. Kenneth Simon Center for American Studies at The Heritage Foundation.

 


--------------------------------------------------------------------------------

 

[1]Edwin Meese III and Matthew Spalding, "The Principles of Immigration," Heritage Foundation Backgrounder No. 1807, October 19, 2004.

[2]See, for instance, Dr. Vernon M. Briggs, "Guestworker Programs for Low-Skilled Workers: Lessons from the Past and Warn­ings for the Future," testimony before the Subcommittee on Immigration and Border Security, Committee on the Judiciary, U.S. Senate, February 5, 2004.

[3]For analysis of the two leading proposals, see James Jay Carafano, Ph.D., Janice L. Kephart, and Paul Rosenzweig, "The McCain-Kennedy Immigration Reform Bill Falls Short," Heritage Foundation Executive Memorandum No. 975, July 26, 2005, and James Jay Carafano, Ph.D., Janice L. Kephart, and Alane Kochems, "The Cornyn-Kyl Immigration Reform Act: Flawed But Fixable," Heritage Foundation Executive Memorandum No. 982, September 23, 2005.

[4]See National Commission on Immigration and Refugee Policy, U.S. Immigration Policy and the National Interest: Final Report, 1981, and U.S. Commission on Immigration Reform, Becoming an American: Immigration and Immigration Policy, 1997.

[5]James Jay Carafano, Ph.D., "Safeguarding America's Sovereignty: A ‘System of Systems' Approach to Border Security," Heri­tage Foundation Backgrounder No. 1898, November 28, 2005.

[6]Edwin Meese III, James Jay Carafano, Ph.D., Matthew Spalding, Ph.D., and Paul Rosenzweig, "Alternatives to Amnesty: Pro­posals for Fair and Effective Immigration Reform," Heritage Foundation Backgrounder No. 1858, June 2, 2005.

[7]See Matthew Spalding, Ph.D., "Making Citizens: The Case for Patriotic Assimilation," forthcoming from The Heritage Foundation.

[8]Tim Kane, Ph.D., and Kirk A. Johnson, Ph.D., "The Real Problem with Immigration...and the Real Solution," Heritage Foun­dation Backgrounder No. 1913, March 1, 2006.

[9]See Meese et al., "Alternatives to Amnesty."

[10]See Edward Erler, "Birthright Citizenship and the Constitution," Heritage Foundation WebMemo No. 925, December 1, 2005. This question can be clarified by legislation and/or bilateral agreement.

[11]This was the position of the Reagan Administration when the idea was proposed in the early 1980s.

[12]Stephen Johnson, "Immigration Plans Need a Foreign Policy Component," Heritage Foundation WebMemo No. 948, Decem­ber 19, 2005; see also Stephen Johnson and Sara J. Fitzgerald, "The United States and Mexico: Partners in Reform," Heritage Foundation Backgrounder No. 1715, December 18, 2003.

http://www.heritage.org/Research/GovernmentReform/bg1911.cfm

Entry #333

"Gradually Boiling the Frog Called America

"Gradually Boiling the Frog Called America
The Security and Prosperity Partnership of North America (SPP)

by Steven Yates
http://educate-yourself.org/cn/americannworegions01may06.shtml
April 30, 2006

Forward courtesy of Slim Spurling (www.slimspurling.com)
.
Original Title
United States of North America

Elitists in the United States, Mexico, and Canada are plotting to merge these three nations into a single regional government similar to the European Union.

In 1787, 13 former British colonies that had briefly been independent states agreed to create a free trade zone inside a shared security perimeter. People, goods, and capital would move freely throughout that region, ignoring previously existing borders. The union thus created was christened the United States of America.

In the early years of the 21st century, elites in three nations - the United States, Canada, and Mexico - are busy creating a new political configuration called the Security and Prosperity Partnership of North America (SPP). It would broaden and deepen the relationship between the three nations created in 1994 through the North American Free Trade Agreement (NAFTA) in dramatic ways.

The new architecture would include a free trade zone protected by a common security perimeter, within which goods, people, and capital would move freely across what had once been firmly established international borders.

First of all, it would require that U.S. citizens effectively surrender their citizenship in the independent constitutional republic founded in 1787. Unlike the USA, which was an organic outgrowth of a political system rooted in Anglo-Saxon laws, customs, traditions, and language, the political entity created through the SPP - in effect, the United States of North America (USNA) - would be a forced three-way marriage of wildly incompatible cultures and political systems.

The U.S. and Mexico are separated by language and have fundamentally incompatible political systems. Canada, riven with linguistic and regional conflicts, is hard-pressed to maintain its own unity, without the additional complications that would arise from an effort to join with the United States and Mexico. Lacking the natural affinities that led the original 13 states to create a constitutional republic, the USNA would likely be held together only through corrupt alliances among ruling elites, backed by undisguised force.

"Integration"

This past March, President Bush met in Cancun, Mexico, with Mexican President Vicente Fox and Canada's newly elected Prime Minister Stephen Harper (shown above) to discuss the year-old SPP, which was formally inaugurated a year ago in a similar trinational summit in Waco, Texas.

To judge from the official rhetoric emanating from various governmental sources, the SPP is a collection of harmless or even commendable multilateral initiatives. A March 23 White House press release observed: "The SPP will complement, rather than replace, existing bilateral and trilateral fora and working groups that are performing well."

The "working groups" casually referred to in that statement were created at the March 2005 Waco summit to create common policies for the United States, Canada, and Mexico in various economic and security areas. Those groups are already laying the foundation for a European Union-style integration of the SPP member nations.

Though the leaders gathered at Cancun spoke in measured terms in describing this process, President Fox came close to giving away the game. His remarks underscored the demand for a new U.S. law ensuring "safe and respectful migration, respecting the rights of people."

Migration, unlike immigration, is the unhindered movement of whole peoples within national borders. Similar movement across a national border is either immigration, or emigration. Significantly, President Bush, too, said that the talks in Cancun often centered on "migration," tacitly endorsing the same subversive assumption that the border between the U.S. and Mexico is as inconsequential as that dividing Utah from Nevada.

Devil in the Details

The joint statement on the SPP issued on March 23, 2005 described it as an initiative to "establish a common approach to security to protect North America from external threats, prevent and respond to threats within North America, and further streamline the security and efficient movement of legitimate, low-risk traffic across our shared borders."

Eight trinational SPP "working groups" were then created to deal with different subject areas and instructed to report back within 90 days. Three months later, the working groups presented an array of ideas for new bureaucracies and "public-private partnerships," which were formed almost at once.

From the beginning, security - not liberty - has been one primary focus of the SPP's architects. The "security" agenda provides for three priority areas with these mandates: (1) secure North America from external threats; (2) prevent and respond to threats within North America; and (3) further streamline the secure movement of low-risk traffic across our shared borders.

Regional Insecurity

The idea that the SPP will provide Americans with additional security is absurd. Washington's efforts to secure our present borders are a spectacular failure - and yet, through the SPP, it would assume a large share of the responsibility for defending a much larger "perimeter" encompassing all of North America.

Representative Katherine Harris (R-Fla.), a member of the Council on Foreign Relations and a close political ally of President Bush, has introduced a bill into the U.S. Congress called the North American Cooperative Security Act. This bill would begin a process of integrating Canadian and Mexican defense institutions with those of the United States, expanding "consultations on defense issues," and "exploring the formation of law enforcement teams that include personnel from the United States and Mexico."

Repeating in places, almost word for word, the security strategy of the SPP, that measure is clearly intended to begin the process of bringing the military and security institutions of the three nations under a central authority, with a single chain of command. The implications of that merger are profoundly troubling, to say the least.

Mexico is ruled by a political establishment intimately connected to that nation's narco-terrorist syndicates. A 2004 United Press International investigative report into the estimated 3,000 kidnappings in Mexico each year noted: "Mexico has a history of complicity between law enforcement and actual kidnappers."

In a March 31 Houston Chronicle op-ed column, Judge Michael McSpadden of Texas' 209 District Court described some things he learned five years ago while he served "as part of a contingent of Texas judges [who met] with then President-elect Vicente Fox's transition team in Mexico City to discuss possible changes in Mexico's justice system."

"Jury trials were not allowed, even though guaranteed by Mexico's Constitution," wrote Judge McSpadden. "There was no live confrontation of witnesses - the judge decided the case upon the written 'declarations' of witnesses. No bonds were allowed in cases considered serious - such as a false report to a public official."

While Canada's law enforcement system is cleaner and more competent than Mexico's, that country presents a different set of potential security risks. Thanks largely to that country's devotion to multiculturalism and political correctness, Canada is becoming a haven for Muslim refugees, a growing population in which terrorists can take cover.

Corporatism, Not "Prosperity"

The goals of the "prosperity working groups" are similarly misleading. The prosperity agenda originally announced a year ago promoted three broad agendas: improving productivity, reducing the costs of trade, and enhancing the quality of life. But what will their practical effect be?

One useful illustration of the SPP's "prosperity" agenda is the proposed Automotive Partnership Council of North America, which would "help identify the full spectrum of issues that impact the industry, ranging from regulation, innovation, transportation infrastructure, and border facilitation." This calls for integration of both business and government throughout the region through networks of public-private partnerships.

"Public-private partnerships" are better described as "corporatism" - the merger of big business with big government described by Mussolini as the foundation of fascism. In such partnerships, government is always the senior partner. The SPP's "partnership" will offer incentives to businesses to help further integration because they'll get preferential treatment by government. This system will actually circumvent marketplace competition, leading to fewer choices for consumers. It will also permit the emerging regional government to exert more control over business.

International Tribunals

The SPP is the product of the same minds that devised NAFTA, a sister-agreement and predecessor of the SPP. The basic treaty of that supposed free-trade accord is laid out in thousands of pages of dense regulations creating scores of unaccountable bureaucratic bodies, including several trade tribunals whose rulings are binding on the citizens of the three NAFTA nations.

Law professor Peter Spiro of Hofstra University said that the implementation of the NAFTA tribunals was "a fundamental reorientation of our constitutional system. You have an international tribunal essentially reviewing American court judgments."

And elected officials in the United States have begun giving precedence to NAFTA rules over the interests of Americans. For example, California Governor Arnold Schwarzenegger was told by advisers in 2004 that a proposed tax incentive package encouraging Californian road builders to recycle 32 million used tires from California's vehicles would violate NAFTA rules by favoring American recyclers over those of Mexico and Canada. Schwarzenegger dutifully vetoed the bill.

Globalist Disclosures

As if the history of NAFTA didn't provide enough clues as to where the SPP is taking us, there is still more evidence - the unguarded words of politicians and their associates in the know.

Following his election in 2000, Mexican president Vicente Fox told an audience in California that his government would "use all our persuasion and all our talent to bring together the U.S., Canadian and Mexican governments so that in five or ten years, the border is totally open to the free movement of workers." Fox was similarly candid in a 2002 address to an audience in Madrid: "Eventually, our long-range objective is to establish with the United States, but also with Canada, our other regional partner, an ensemble of connections and institutions similar to those created by the European Union."

The actions and statements of some U.S. politicians have been similarly telling. The Bush administration's proposed "guest worker" program, which is amnesty for illegal immigrants, is a key part of this trinational integration scheme.

Many of President Bush's staunch supporters, who see him as a flinty-eyed custodian of our national security, are puzzled over what they see as his uncharacteristic squishiness on the issue of protecting our borders. They don't understand that George W. Bush has long been a proponent of amalgamating the United States with Mexico, and is an unabashed proponent of regional integration as well.

The SPP, the instrument of that betrayal, does not have any broad base of public support beyond the tiny cluster of political, corporate, and bureaucratic elites that gave us NAFTA and CAFTA.

Americans by the millions have been infuriated by the spectacle of illegal aliens marching in the streets of our cities demanding they be given a fast track to citizenship. Our fellow citizens must be educated about the real design behind the drive for illegal-alien amnesty, and mobilized to defeat both amnesty and the ongoing drive to create the SPP.

Steven Yates


--------------------------------------------------------------------------------

Steven Yates, Ph.D., teaches philosophy at the University of South Carolina Upstate and Greenville Technical College. "

http://educate-yourself.org/cn/americannworegions01may06.shtml

 

Entry #331

"More Uncertainty on World Markets

For the past several days it's been speculated that the US was headed toward a massive devaluing of its currency, anywhere from 25% to 40%. 

Soooo isn't it amazing today's article points toward a US$ rebound simultaneously with news of the senate's open borders immigration bill nearing regurgitation ...... I mean completion. 


"More Uncertainty on World Markets

 

 

May 24, 2006
BBC

"The jitters sweeping global markets have reasserted themselves in Europe, as worries about the continent's economies triggered fresh falls.

Photo: Even though it looks worrying, price volatility helps traders make money

Europe's main share indexes all fell sharply, with the FTSE 100, the Cac 40 and the Dax all losing more than 1.7%, despite earlier solid gains in Asia.

Worries about inflation and interest rates overshadowed profits growth.

Analysts expect volatile trading to continue after poor economic figures prompted a global sell-off last week.

Weighing on the markets is the fear that higher interest rates needed to rein in inflation could kill off the global economic recovery in the process.

Higher borrowing costs put a brake on consumer spending and corporate investment, squeezing profits and jeopardising growth.

The cautious mood had persisted in the US overnight, with the Dow Jones index down 0.25% and the Nasdaq down 0.65%

At the same time, metals prices firmed, crude oil prices slid and the US dollar strengthened against the Japanese yen.

'WE ARE SCEPTICAL'

In Europe, the UK's main FTSE 100 share index was down 105.8 points to 5,572.9 at 1157 GMT, with Germany's Dax losing 100.6 points and France's Cac off by 87.22 points.

In India another volatile day of trading saw the BSE Sensex index lose much of the 341 points gain made on Tuesday, closing down 2.3% or 249 at 10,573.

Analysts say that even though there are concerns that price growth may accelerate and push up interest rates, the sell-off means share prices are coming back to levels that could make them attractive to investors.

As a result, they predict that the declines may be short-lived.

A lot will depend on the quality of earnings and economic reports released in coming weeks. Market watchers said they expected a period of consolidation, rather than a rapid recovery.

"We are sceptical if there is anything fundamental about these falls," said Tristan Hanson of Cazenove. "It is more panic."

Electronic price board showing drop in Asian stocks

Photo: The strength and speed of the sell-off caught many people by surprise

Japan's Nikkei 225 index rebounded strongly on Wednesday as a weaker yen lifted optimism that exporters, including camera firm Canon and carmakers Toyota and Honda, would benefit and foreign sales increase.

SOLID METAL

One of the main areas of concern has been the rapid rise of commodity prices, amid fears that a market bubble is about to burst.

On Wednesday, gold prices were little changed, while copper rebounded quickly before levelling off.

Meanwhile, the price of crude oil, one of the main factors behind the inflation fears, dipped as supply concerns eased.

In London, a barrel of Brent crude oil fell back 1.4% to $70, and a barrel of New York light crude slid 1.5% to $70.69.

The US dollar had rebounded against both the yen and euro in Asian trading, but pared gains after a surprisingly strong German report on investor confidence.

In early European trading, euro was up 0.3% at $1.2855, while the US dollar was flat against the Japanese currency at 111.95 yen.

http://news.bbc.co.uk/2/hi/business/5011530.stm

http://www.stevequayle.com/News.alert/06_Money/060524.world.mkts.html

Entry #330