[News] Oil Burden Newsletter- June 7, 2008
Carlos Mock
ctmock at gmail.com
Sat Jun 7 13:48:18 CST 2008
³We need to solve our oil dependency once and for all. At this junction I
consider it to be the highest national threat to our country. Editorials
that speak of Œoil bubbles¹ will hinder our efforts for rel solutions.²
Carlos T Mock, MD
Commodities
Oil $138.54
Silver Bullion $17.3
Gold Bullion $901
Platinum Bullion $ $2074
Euro $1.5756
Oi burden Revisited By Carlos T Mock, MD. June 7, 2007. Last tie the
United States had an oil crises of this magnitude was in 1980. Even whe
adjusted for inflation, crude oil at $137 a barrel is more expensive han at
the peak of the oil spike in 1980. That is an alarming statistic. nstead
of talking about Oil Bubbles we should be talking about Oil Burde:
Véronique Riches-Flores of Société Générale measures the ³oil burden² he
volume of oil consumed, multiplied by the average price and divided by
nomnal gross domestic product. This gives the proportion of the world
economy devoted to oil and accounts for the way the world has reduced its
reliance on oil since 1980. The oil burden so meured has risen about 75
per cent during the past year, to its highest levelin almost 25 years. This
must soon have an economic impact if prices do no quickly reverse. But
prices would need to reach about $190 before theburden regained its peak of
1980. It is not clear that prices are at a poi where demand will fall.
http://iretiredfromnewsletters.blogspot.com/2008/06oil-burden-revisited.htm
l
Oil smashes to record above $137 a barrelBy Chris Flood. Copyright The
Financial Times Limited 2008. Published: Jne 6 2008 13:37 | Last updated:
June 6 2008 18:29. Oil roared to a new recrd on Friday yesterday as hedge
funds that had bet on a decline in crde prices were forced to exit their
short positions. Nymex July West Texas rude oil jumped $9.91 to a record
of $137.0 a barrel, a record one-day gain in dollar terms, and taking the
increase over the week to 8.1 per cent. ICE July Brent leapt $10.13 to a
peak of $137.35 a barrel, gainin 7.8 per cent this week. The rally was
also supported by comments from Israel¹s transport minister suggesting an
attack on Iran¹s atomic facilities looked ³unavoidable² given the failure of
sanctions to curb Tehran¹s nuclear ambitions. Morgan Stanley warned oil
prices could spike to $150 a barrel by Independence Day on July 4 as Middle
East producers are sending recor volumes to Asia, while supplies into the
Atlantic are hitting ³rock bottm².
http://iretiredfromnewsletters.blogspot.com/2008/06/oil-smashes-to-record-ab
ove-137-barrel.html
Finncial Times Editorial Comment: Perversity in the price of oil and gas.
Copyrght The Financial Times Limited 2008. Published: June 2 2008 19:29 |
Last updated: June 2 2008 19:29. One way of interpreting Indonesia¹s long
overdue departure from Opec is to say that the country became a net importer
of oil because of poor management of supply: by failing to invest enough in
exploration and development, Opec¹s only Asia-Pacific member forfeited its
place in the oil exporters¹ cartel. There is some truth in this. Indonesia,
like many other territories endowed with oil and gas, has made life so
awkward for foreign investors over the past two decades that its oil output
has started falling sooner and declined faster than expected. It became a
net importer in 2005 and quit Opec last week. But many countries, alarmed
by the recent rise of oil prices to as high as $135 a barrel, are belatedly
realising that the demand side of the energy equation is at least as
important. Several Asian and Middle Eastern governments are reacting
sensibly, if much too slowly by cutting the illogical subsidies for energy
consumption that are playing havoc with their budgets. This applies not only
to Indonesia, which remains a net energy exporter because of its sales of
natural gas, but also to significant energy importers such as India.
http://iretiredfromnewsletters.blogspot.com/2008/06/financial-times-editoria
l-comment.html
The Fed¹s year of living dangerously By Clive Crook. Copyright The
Financial Times Limited 2008. Published: June 1 2008 18:57 | Last updated:
June 1 2008 18:57. The remarkable ability of the Federal Reserve to coast
above the turbulence of US politics has been tested lately. The central bank
has been forced to deal with a financial crisis at least partly of its own
making. It has rightly come in for some criticism; it has had to explain
itself. Even so, the Fed and its policies are hardly front and centre in the
debate between the presidential candidates. Most voters say that they
regard the economy and its troubles as the single most important issue
facing the country. They want to hear what Senator Barack Obama and Senator
John McCain propose to do about it but the Fed where the real economic
power resides is mostly allowed to get on with the job unmolested. I
wonder if this will continue to be true. When a central bank has an
uncomplicated recession to deal with, it can cut interest rates. When it
faces a clear-cut case of inflation, it can raise them. The worst nightmare
of any central banker especially one with a tradition of political
independence to defend is stagflation, when raising interest rates to curb
inflation will provoke a recession or deepen one that has already begun. It
is a problem that the US has not had to confront for 30 years. In 2008, an
election year, the conditions are falling into place.
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erously.html
Financial Times Editorial Comment: Dollar not a dirty word for Bernanke.
Copyright The Financial Times Limited 2008. Published: June 5 2008 19:46 |
Last updated: June 5 2008 19:46. It was entirely reasonable if somewhat
risky for US Federal Reserve chairman Ben Bernanke to imply in a speech
that he does not want the dollar to weaken further. A falling currency
increases inflation, all central banks worry about it and it is fine for the
Fed to worry in public. Mr Bernanke¹s remarks clarify the Fed¹s thinking,
even though they may do little to reduce the risk of dollar-driven
inflation. The exchange rate as such is no business of central banks:
indeed, targeting an exchange rate usually means losing control over
interest rates. But because a falling currency raises import prices,
inflation, and maybe consumer expectations of future inflation, central
banks must follow it closely. Mr Bernanke¹s comments fit with such a view.
Mr Bernanke did not say: ³We think the dollar is too low.² He said: ³We are
attentive to the implications of changes in the value of the dollar for
inflation and inflation expectations.² Nor was Mr Bernanke disagreeing with
the US Treasury which would be stupid. His comments on the dollar
mirrored, in milder form, comments made by Hank Paulson, the US Treasury
secretary, a day earlier.
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l-comment_06.html
Bernanke warns on weak dollar © Reuters Limited. WASHINGTON, June 3 - US
Federal Reserve chairman Ben Bernanke on Tuesday issued a rare warning on
the risks that a weak dollar poses for inflation, but said U.S. interest
rates are ²well positioned² for an economy facing both price pressures and
threats to growth. ²We are attentive to the implications of changes in the
value of the dollar for inflation and inflation expectations and will
continue to formulate policy to guard against risks to both parts of our
dual mandate,² he said, referring to the U.S. central bank¹s twin goals of
ensuring sustainable growth and low inflation. Bernanke said the Fed and
the U.S. Treasury were continuing to ²carefully monitor² developments in
currency markets. The Fed¹s interest rate cutting campaign -- which has
taken benchmark rates to 2 percent from 5.25 percent since September -- and
its infusion of billions of dollars into the financial system to ease a
credit crunch have helped put a floor under the economy, he said.
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ollar.html
Act now to prick the oil price bubble By Meghnad Desai. Copyright The
Financial Times Limited 2008. Published: June 5 2008 19:21 | Last updated:
June 5 2008 19:21. Between February and May of this year the oil price went
from below $90 to $128 a barrel, a monthly growth of 9 per cent. If the rise
continued at this rate, it would mean an unprecedented doubling in price
every eight months. In recent days, after the price briefly touched a high
of $135, there has been a bout of profit-taking. Although the price has now
fallen it has not yet dropped much below $125. The latest price rise has
baffled many. What has happened to supply and demand to cause such a steep
and sudden price rise? Gordon Brown, the UK prime minister, said last week
that ³the cause is clear: growing demand and too little supply². China and
India are buying more oil. Costs of exploration and extraction are going up.
Nigeria and Venezuela are causing anxieties about supply. But these factors
are not new. Nothing has happened in the real oil economy to justify such a
sharp and steep rise in its price. There is a growing feeling that the
latest sharp upsurge in the price of oil may be a speculative bubble rather
than an outcome of market fundamentals. The US Commodity Futures Trading
Commission indicated last week that there may be ³system risk² and George
Soros, the veteran investor, in testimony on Capitol Hill on Tuesday, warned
that commodity index funds, which treat oil as an asset rather than a
commodity to be bought and sold for use, are creating a bubble.
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ce-bubble.html
Your Lack of Money
Oil surges and dollar slides on US jobs data By Michael Mackenzie in New
York, James Politi in Washington and Chris Flood in London. Copyright The
Financial Times Limited 2008. Published: June 6 2008 18:58 | Last updated:
June 6 2008 18:58. Oil prices soared to a record high and the dollar
slumped on Friday as the largest one-month rise in the US unemployment rate
for 22 years tempered expectations of US interest rate rises later this
year. The dollar had stabilised recently as markets priced in a US rate
hike by year¹s end, but the May employment report forced investors to
rethink their positions. This sparked a fall in the dollar and a dramatic
surge in dollar-denominated commodities such as oil and gold. Stocks fell
sharply in Europe and the US as investors worried about a vicious cycle in
which dollar weakness fuels higher oil prices, and rising energy costs
further slow economic growth. Alan Ruskin, strategist at RBS Greenwich
Capital, said: ³Dollar weakness and the rise in oil prices is very negative
for the US and global economy. High oil prices are affecting parts of the
world, such as Asia, that the credit crunch could not reach.²
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ides-on-us-jobs.html
Lehman targets up to $6bn in fresh capital By Ben White, Francesco Guerrera
and Joanna Chung in New York. Copyright The Financial Times Limited 2008.
Published: June 6 2008 23:34 | Last updated: June 6 2008 23:34. Lehman
Brothers is working on plans to announce early next week that it is raising
$5bn-$6bn in fresh capital as the bank discloses a large second quarter
loss, people briefed on the matter said. The earnings announcement, which
had been expected for the week of June 16, is likely to be brought forward
to address persistent rumours in the marketplace about Lehman¹s financial
condition. Lehman declined to comment on the timing of its earnings
announcement or any capital raising plans. People briefed on the matter
said they expected Lehman to announce earnings and the capital infusion at
the same time, perhaps as early as Monday or Tuesday.
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-in-fresh.html
State bankruptcy filings jump 27.2 percent in first quarter By Becky Yerak.
Copyright © 2008, Chicago Tribune. 4:51 PM CDT, June 3, 2008. More than
12,500 individuals and businesses filed for bankruptcy in Illinois in the
first quarter of 2008, a 27.2 percent jump that mirrors national trends amid
rising household debt. Consumer filings in the state increased 27.5 percent
to 12,248, while business bankruptcies rose 14.5 percent to 260.
Nationally, the total number of bankruptcies filed during the first three
months of 2008 rose 26.9 percent, to 245,695, over the same period in 2007
in all bankruptcy court districts, according to data released Tuesday by the
Administrative Office of the U.S. Courts. "This ninth consecutive quarterly
increase in filings since Congress attempted to restrict access to
bankruptcy relief demonstrates again the influence of rising household
debt," Samuel Gerdano, executive director of American Bankruptcy Institute,
said in a statement. The Bankruptcy Abuse Prevention and Consumer
Protection Act of 2005 was enacted in late 2005.
http://iretiredfromnewsletters.blogspot.com/2008/06/state-bankruptcy-filings
-jump-272.html
United Airlines to cut a fifth of its fleet By Daniel Pimlott in New York.
Copyright The Financial Times Limited 2008. Published: June 4 2008 13:30 |
Last updated: June 4 2008 17:19. United Airlines said on Wednesday it would
ground more than a fifth of its fleet, slash its domestic capacity by as
much as 18 per cent by the end of next year, and cut as many as 1,600 jobs
in the latest sign of the crisis gripping the US airline industry amid
record oil prices and a slowing economy. The move to cut flights by the
second largest US carrier comes as a drastic follow-up to merger talks with
two rivals, United Airways and Continental, that both failed in little more
than a month. United will now reduce its 460 strong fleet of aircraft by
100, 70 more than it had previously revealed in April, and cut its 55,000
workforce by nearly 3 per cent, including 500 jobs the company had already
said it would axe. The shrinking in domestic flight capacity, which will be
focused on marginal routes, is the biggest cut this year by any major US
airline, exceeding the 12 per cent contraction that American Airlines
unveiled last month in response to higher fuel costs and weaker demand.
Delta Airlines has also been forced to cut capacity by 11 per cent, while
smaller low fare carriers Airtran and JetBlue have both deferred buying new
aircraft.
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ifth-of-its.html
GM to close four truck plants By Bernard Simon in Toronto. Copyright The
Financial Times Limited 2008. Published: June 3 2008 13:39 | Last updated:
June 3 2008 15:16. General Motors plans to close four sport-utility vehicle
and pick-up truck plants in North America as part of an accelerated plan to
shift its focus towards smaller, more efficient vehicles in its core US
market. The Detroit-based carmaker also announced that it may sell Hummer,
long identified with behemoth gas-guzzlers, as part of a strategic review of
the brand. Higher gasoline prices, now approaching a record $4 a gallon,
³are changing consumer behaviour, and rapidly², Rick Wagoner, GM¹s chief
executive, said in a speech ahead of the company¹s 100th annual meeting on
Tuesday. He said that the shift had big implications not only for the mix
of GM¹s products but also its profitability. SUVs and pick-ups are among
carmakers¹ biggest money-spinners. Mr Wagoner said that, as a result of the
production cutbacks, the proportion of cars in GM¹s North American output
would rise from 50 per cent to 60 per cent within the next three years.
Eighteen out of GM¹s 19 forthcoming vehicle launches are cars and crossover
vehicles, which look like SUVs but are built on car platforms. Two of the
four plants to be closed are in the US, one in Canada and one in Mexico.
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lants.html
Housing
Illinois Average Rates
6/7/08 - 10:46 PM
30 Yr Fixed 6.08%
15 Yr Fixed 5.63%
30 Yr Fixed Jumbo 7.26%
Toll urges action to lift US housing market By Daniel Pimlott in New York.
Copyright The Financial Times Limited 2008. Published: June 3 2008 13:56 |
Last updated: June 3 2008 13:56. Toll Brothers, the largest US builder of
luxury homes and apartments, on Tuesday called for greater government action
to help boost demand for homes as it reported its third consecutive
quarterly loss. The plea for help came as the builder of high-end homes
said that buyers were still scarce in most of its markets in the second
quarter. ³We believe Congress should jump-start demand for new homes with
an initiative that will bring buyers off the sidelines and into the market,
and thereby stop the downward spiral of home prices,² said Robert Toll, the
company¹s founder, chairman and chief executive. ³With a little motivation,
the new home market could turn around, which would have a very positive
impact on banks, bond prices and many other areas of the economy.²
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t-us-housing.html
International
Fulbright scholarships restored to 7 Gaza students By MARK LAVIE. Copyright
2008 Associated Press. 1:13 PM CDT, June 2, 2008. JERUSALEM - The U.S. has
reinstated the Fulbright scholarships of seven Gaza Strip students blocked
by Israel from leaving the Hamas-ruled territory, the State Department said
Monday. The students were informed Thursday that their scholarships for the
upcoming academic year would be deferred because they couldn't get out of
Gaza, which Israel blockaded after the Islamic militants seized power a year
ago. State Department spokesman Sean McCormack said the U.S. reversal came
on orders from Secretary of State Condoleezza Rice, who first heard about
the scholarship snafu on Friday. "She wasn't pleased," McCormack said.
Israel and the United States have tried not to point fingers in public over
the scholarship incident, but each government clearly thinks the other made
mistakes early on. Israeli officials say U.S. diplomats didn't ask for
special exemptions for the Fulbright students, while U.S. officials say
Israel should have recognized immediately that these were a special case.
U.S. officials also blame themselves.
http://iretiredfromnewsletters.blogspot.com/2008/06/fulbright-scholarships-r
estored-to-7.html
Mess-o-potamia
Financial Times Editorial Comment: Demographic time-bomb in Mideast.
Copyright The Financial Times Limited 2008. Published: June 3 2008 19:22 |
Last updated: June 3 2008 19:22. The bombs and the bluster in the Middle
East are tediously familiar. Less so is what is arguably the most daunting
strategic challenge facing the Arab countries: the youth bulge. As a
special report in the Financial Times this week spelled out, up to
two-thirds of Arabs are under 25 and more than one in four have no job, in a
deeply troubled region with the world¹s worst employment rate. A World Bank
study on the Middle East and North Africa five years ago reckoned the region
would need to create 80m-100m jobs by 2020. The future may become very
bleak, not only for the region but for the world, if the generational
transformation needed to meet this challenge is not attempted with at least
some success. That sea change is not just about economics. Obviously, Arab
governments need to do things such as invest more in infrastructure and
enact a modern investment framework, as, for example, some of the Gulf city
states have done. But the reasons for relative Arab failure to develop go
very deep, as a seminal series of Arab Human Development reports begun in
2002 by the United Nations Development Programme written by Arab
professionals and intellectuals unflinchingly laid bare. If one has to
identify three overarching problems, they are a woeful education system,
political autocracy and the absence of the rule of law and they are all
related.
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l-comment_04.html
Senate report hits at prewar Iraq intelligence By Daniel Dombey in
Washington and Demetri Sevastopulo at Guantánamo Bay. Copyright The
Financial Times Limited 2008. Published: June 6 2008 02:59 | Last updated:
June 6 2008 02:59. The Bush administration made unfounded claims about Iraq
in the run-up to the 2003 war and failed to convey doubts and caveats about
some of the intelligence it used, a US Senate committee charged on Thursday.
But the long-awaited report, which comes after more than four years of
studying the quality of the intelligence behind the war, was attacked by
several of the Republicans on the committee as a partisan exercise. The US
election campaign is already largely taken up by debate on future plans in
Iraq and charges by Barack Obama, the presumptive Democratic presidential
nominee, that the war should never have been authorised or waged.
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ewar-iraq.html
Just whose Iraq is it, anyway? By Steve Chapman. Copyright © 2008, Chicago
Tribune. June 5, 2008. ³I think the Iraqi people owe the American people a
huge debt of gratitude," President Bush said last year, a bit resentfully.
"That's the problem here in America: They wonder whether or not there is a
gratitude level that's significant enough in Iraq." Apparently not. It
seems the rarest person in the world is a grateful Iraqi. This week, the
Baghdad government said it would reject any agreement on U.S. forces that
"violates Iraq's sovereignty." That came days after tens of thousands of
Shiites took to the streets to protest a proposed deal that would keep
American troops there for years to come. Followers of radical cleric
Moqtada Sadr, who rejects any such accord, turned out to hear a sheik who
warned, "The cancer has spread and has to be removed." Afterward, reports
The Washington Post, they chanted, "Get out, get out, occupier." Cancer?
Occupier? That's not quite how it looks to American supporters of the war.
They see the United States as the savior of the ordinary Iraqis who survived
Saddam Hussein only to be victimized by violent extremists. We certainly
have made some sacrifices on their behalf, including more than 4,000 troops
killed in the war and hundreds of billions of dollars spent on it.
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yway.html
Israel may strike Iran, deputy PM says By Tobias Buck in Jerusalem and
Daniel Dombey in Washington. Copyright The Financial Times Limited 2008.
Published: June 6 2008 12:01 | Last updated: June 6 2008 19:01. A senior
member of the Israeli government has stated that an attack on Iran is
becoming ³unavoidable² if Tehran is to be stopped from acquiring nuclear
weapons. The blunt warning that Israel¹s government is ready to strike at
its chief rival in the region was given by Shaul Mofaz, transport minister
and a deputy prime minister, in a press interview published Friday. He
said: ³If Iran continues with its programme for developing nuclear weapons,
we will attack it. The sanctions are ineffective.² The Iran-born Mr Mofaz
added that ³attacking Iran, in order to stop its nuclear plans, will be
unavoidable².
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eputy-pm-says.html
Syria to allow probe of alleged nuclear site By GEORGE JAHN. Copyright 2008
Associated Press. 11:18 AM CDT, June 2, 2008. VIENNA, Austria - Syria will
allow in U.N. inspectors to probe allegations that the country was building
a nuclear reactor at a remote site destroyed in an Israeli airstrike, the
International Atomic Energy Agency said Monday. IAEA head Mohamed ElBaradei
did not say whether his inspectors would be granted access to the site
during the planned June 22-24 visit. But a senior diplomat familiar with the
details of the planned visit said agency personnel had been told they could
visit the facility. The diplomat said agency experts were also interested in
two other locations with possible undeclared nuclear facilities. The
diplomat, who spoke on condition of anonymity because of the sensitivity of
the matter, told The Associated Press that agency experts will also be
asking for information on the possible existence of two plutonium
reprocessing facilities separate from the destroyed building.
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alleged-nuclear.html
Car bombings in Baghdad leave at least 6 dead By SAMEER N. YACOUB.
Copyright 2008 Associated Press. 9:59 AM CDT, June 7, 2008. BAGHDAD - A
suicide car bomb and another car packed with explosives targeted Iraqi
police patrols Saturday on opposite sides of Baghdad, killing at least six
people, police said. The suicide attacker rammed into a police patrol
mid-afternoon in Nisoor Square on the capital's west side, killing a
civilian and a policeman, police said. Another five people were wounded.
The other explosion took place nearly simultaneously across town at a
crowded bus stop where passengers were lining up to catch rides to eastern
Shiite neighborhoods, though police said the target was the passing convoy
of a top Iraqi police general. Four people were killed and 18 wounded,
Brig. Gen. Nazar Majeed among them, said an officer on condition of
anonymity because he was not authorized to talk to media. Three of the dead
were policemen, he said.
http://iretiredfromnewsletters.blogspot.com/2008/06/car-bombings-in-baghdad-
leave-at-least.html
Despair mounts in Afghan food crisis - Insurgency, drug trade fuel
intensifying hardship By Kim Barker. Copyright © 2008, Chicago Tribune.
12:26 AM CDT, June 2, 2008. KABUL, Afghanistan ‹ Faced with skyrocketing
food prices and no job, Mohammad Daud decided he had suffered enough. The
27-year-old swallowed 100 sleeping pills and died. His decision late last
month reflects panic in this war-torn country over the price of food,
especially wheat, the staple of the Afghan diet. Afghanistan, landlocked and
drought-ridden, depends on aid and food imports to survive, and the world's
food crisis has hit hard. "He became so disappointed, he killed himself,"
said Shuja Ullah, Daud's brother-in-law, who said Daud took care of his
mother, his 11-year-old son and the four orphans of his two late brothers.
"If he had food, why would he kill himself? He wouldn't. He could not afford
to buy food for his family. Everyone felt so bad for him. But the government
didn't." Few countries have suffered from the global squeeze on food like
Afghanistan, one of the world's poorest nations, where most of the
agricultural land is devoted to poppies. While other countries also struggle
with supply and demand, the crisis here is compounded by the Taliban-led
insurgency and the drug trade.
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-food-crisis.html
Deadly blast strikes Danish Embassy in Pakistan By Kim Barker. Copyright ©
2008, Chicago Tribune. 9:00 AM CDT, June 2, 2008. ISLAMABAD, Pakistan - A
powerful car bomb exploded just outside the Danish Embassy on Monday
afternoon, killing at least eight people and raising questions about the
lack of security for the embassy, which has been under threat since Danish
newspapers published controversial cartoons about the Prophet Muhammad. The
blast ended almost three months of calm in the restive country's capital,
the same day that security was supposed to be tight. The army was deployed
Monday in Islamabad as President Pervez Musharraf drove to Islamabad from
his home in neighboring Rawalpindi. After the blast, the convoy of
Musharraf, himself the target of three assassination attempts, immediately
left the capital. There was no immediate claim of responsibility, but Al
Qaeda leaders ‹ thought to be hiding along the border of Pakistan and
Afghanistan ‹ have threatened Danish and other European targets recently
because of the cartoons. Analysts said the attack was aimed not just at the
Danish, but at the new Pakistani government, which has been trying to sign
peace deals with militants since winning office in February.
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ish-embassy-in.html
Australian PM attacks decision to join war in Iraq By ROD McGUIRK.
Copyright 2008 Associated Press. 10:50 AM CDT, June 2, 2008. CANBERRA,
Australia - Prime Minister Kevin Rudd accused his predecessor of abusing
intelligence information to justify entering the Iraq war, saying Monday
that the Australian people were misled. In remarks to parliament on the
withdrawal of troops from Iraq, which began Sunday, Rudd said the nation
must learn from the errors of former Prime Minister John Howard, who sent
2,000 troops to support U.S. and British forces in the 2003 invasion. "We
must learn from Australia's experience in the lead-up to going to war with
Iraq and not repeat the same mistakes in the future," Rudd said. He
criticized Howard's government for going to war without accurate information
or a full assessment of the consequences. "Of most concern to this
government was the manner in which the decision to go to war was made: the
abuse of intelligence information, a failure to disclose to the Australian
people the qualified nature of that intelligence," Rudd said. Before the
invasion, Howard argued that Saddam Hussein had to be toppled to prevent the
spread of weapons of mass destruction and terrorism. The weapons were not
discovered and no definite links were established between Saddam and
al-Qaida or other terror networks.
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at-operations.html
National
Chicago Tribune Editorial - A chance to clear the air. Copyright © 2008,
Chicago Tribune. June 3, 2008. By now, most Americans are aware of global
warming and accept the predictions of what will happen if something isn't
done about carbon dioxide emissions. Global warming is real, created in part
by humans, and we need to get serious about leading a global effort to
muffle its worst potential effects. But what shape should that effort take?
On Monday, the U.S. Senate began to take up a bill, sponsored by Independent
Sen. Joe Lieberman and Republican Sen. John Warner, that is an ambitious
starting point. The law would create what's known as a cap-and-trade
system to cut carbon dioxide emissions. The government would set an annual
limit, or cap, on how much carbon dioxide could be spewed from a range of
sources, including power plants, heavy industry, manufacturing and
transportation. The government would auction or otherwise distribute those
allowances to companies. If a company produced less than its allotted
allowance, it could sell that allowance or trade it to another company,
allowing some to pollute above the cap.
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l-chance-to.html
Storms bring new round of destruction to Midwest By DAVE KOLPACK. Copyright
2008 Associated Press. 12:50 AM CDT, June 7, 2008. EMMAVILLE, Minn. -
Strong storms smashed houses, deluged neighborhoods and left thousands
without power across the Midwest on Friday in the latest round of fierce
weather. Hot temperatures baked the region even as residents coped with the
lack of electricity. A tornado raked a half-mile-wide path of destruction
in northwestern Minnesota, where a house overlooking Pickerel Lake near
Emmaville was destroyed, it's contents spilling down the hill. Wooden chairs
and tables floated below. Flooding forced the evacuation of about a dozen
homes in the central Iowa town of Cambridge. Heavy rains that began
Thursday night seeped into most basements and at least one foundation
collapsed, said Lori Morrissey, Story County's emergency management
coordinator. "The ground is just fully saturated," Morrissey said. "The
runoff from the community just all comes to that part of town." In
Illinois, the Chicago Department of Aviation said high winds and storms were
causing delays and cancellations at airports.
http://iretiredfromnewsletters.blogspot.com/2008/06/storms-bring-new-round-o
f-destruction.html
Universal Studios fire damage blamed on low water pressure. Copyright 2008
Associated Press. June 2, 2008. UNIVERSAL CITY, Calif. -- Firefighters
patrolled fire-damaged Universal Studios early Monday for flare-ups while
authorities considered whether the blaze that gutted some of Hollywood's
most famous backdrops was made worse by low water pressure. At one point,
Sunday's fire was two city blocks wide, and low water pressure forced
firefighters to get reserves from lakes and ponds on the 400-acre property.
The blaze was contained to the back lot, but burned for more than 12 hours
before the final flames were extinguished. "The water pressure situation
was a challenge," Los Angeles County Fire Chief Michael Freeman said. "This
fire moved extremely fast." County Supervisor Zev Yaroslavsky said
authorities would investigate the water problems to see whether they reflect
a larger shortfall in the area. "There's no question that there was a lack
of adequate water pressure at least in the perception of a lot of
firefighters," he said. "We're going to find out what the problem was."
http://iretiredfromnewsletters.blogspot.com/2008/06/universal-studios-fire-d
amage-blamed-on.html
Bush Whacking
³Ever since the Fed began its rapid interest rate cuts last September, the
danger has been that it would lose its inflation-fighting credibility. One
expression of that would be investors dumping the dollar in order to protect
the purchasing power of their money. That has been largely avoided, but the
weak dollar has contributed to inflation, not least through the oil price.
The employment report was the second blow for the dollar this week. On
Thursday, the European Central Bank strongly indicated it would raise rates
this summer owing to inflation worries, triggering fresh dollar selling and
higher oil prices.² Carlos T Mock, MD
The Sad State of Our Republic By Carlos T Mock, MD. June 7, 2008. Seven
more months left in the Bush presidency and I can¹t but pray he causes no
more harm. Truth is, the Republic has never been in worst shape. After
presiding over the largest attack to American soil ever, Mr. Bush has
managed to turn the sympathy and respect of the entire world population into
disdain and hate for our country. After setting to capture the perpetrator
of the destruction caused by Osama Bin Laden in Afghanistan Mr. Bush‹
haunted by past insecurities and pushed by oil executives and Cheney's
Haliburton‹started an unprovoked war against Iraq. In the fall of 2003, a
few months after Saddam Hussein's overthrow, U.S. officials began to despair
not finding stockpiles of Iraqi weapons of mass destruction. The resulting
embarrassment caused a radical shift in administration rhetoric about the
war in Iraq. President Bush no longer stressed Saddam's record or the
threats from the Baathist regime as reasons for going to war. Rather, from
that point forward, he focused almost exclusively on the larger aim of
promoting democracy. This new focus compounded the damage to the president's
credibility that had already been caused by the CIA's errors on Iraqi WMD.
The president was seen as distancing himself from the actual case he had
made for removing the Iraqi regime from power.
http://iretiredfromnewsletters.blogspot.com/2008/06/sad-state-of-our-republi
c.html
Now he's apologizing? By Clarence Page. Copyright © 2008, Chicago Tribune.
June 1, 2008. WASHINGTON‹Here's what President Bush's press secretary had
to say about the latest former administration official to write a book that
is sharply critical of the Bush White House: "Ask yourself why, one and a
half years later, after he left the administration, he's all of a sudden,
coming forward with these grave concerns?" the press secretary said. "If he
had such grave concerns, why didn't he come out with them sooner?" No,
that was not Bush's current press secretary, Dana Perino, talking about
former press secretary Scott McClellan's new tell-all book, "What Happened:
Inside the Bush White House and Washington's Culture of Deception." No,
the press secretary quoted above is McClellan in a March 2004 news
conference. He was responding to another book, "Against All Enemies: Inside
America's War on Terror," by Richard A. Clarke, the former White House
counterterrorism adviser. History repeats itself in ironic ways in
Washington. Clarke's book charged that the Bush administration failed to
take timely action against Al Qaeda before the Sept. 11, 2001, terrorist
attacks. It criticizes the war in Iraq as a hindrance and distraction from
the real war against terror. It sounds, in short, a lot like McClellan's
book.
http://iretiredfromnewsletters.blogspot.com/2008/06/now-hes-apologizing.html
Funnyman Cheney By Dennis O'Toole. Copyright © 2008, Chicago Tribune. June
5, 2008. Vice President Dick Cheney is a comedy machine. On Tuesday, the VP
showed up at the National Press Club's open mic and just killed it. I mean,
he tore the roof off the place. Talking about his family history, he said:
"We had Cheneys on both sides of the family and we don't even live in West
Virginia . . . [Here he paused like a pro, then chuckled with the crowd.]
You can say those things when you're not running for re-election." Oh,
snap! That's funny on so many levels. Here's how this joke works: Cheney is
implying that incest is common in West Virginia. Get it? HAHAHAHA!
Clearly, we are witnessing one of the finest comedians at the top of his
game. Cheney is up there with greats like Chris Rock, Ellen DeGeneres and
Michael Richards. Now, that said, I do have a few quibbles.
http://iretiredfromnewsletters.blogspot.com/2008/06/funnyman-cheney.html
Indecision 2008
"Like Bush, Clinton created a tightly controlled campaign backed by her
party's establishment and based on the idea that she was the inevitable
Democratic nominee." Bloomberg.com
Hillary Clinton¹s real lesson for women By Chrystia Freeland. Copyright The
Financial Times Limited 2008. Published: June 3 2008 17:32 | Last updated:
June 3 2008 17:32. This will probably be the week when Barack Obama finally
clinches the Democratic nomination for this year¹s US presidential election.
The topsy-turvy contest has been humbling for the punditocracy, but I remain
willing to predict one reaction to Mr Obama¹s slow-motion victory with
certainty many of Senator Hillary Clinton¹s supporters will denounce the
result as evidence that the US remains deeply sexist. The ³iron my shirt²
heckler who confronted Mrs Clinton in New Hampshire will be recalled, as
will the infamous ³Hillary Nutcracker² whose black pant-suit-clad thighs are
³promised to crack even the toughest nut² and which you can buy on Amazon
for $19.67. The assertion by Gloria Steinem, the feminist, that ³gender is
probably the most restricting force in American life² will be cited as
prescient, and former vice-presidential candidate Geraldine Ferraro¹s
warning that Mrs Clinton¹s treatment ³sends a direct signal that sexism is
OK in all of society² will become a rallying cry for her aggrieved backers.
It is true, disappointing and unsurprising that Mrs Clinton has faced some
sexist opposition in her quest to become the first female president of the
US. But bias against women is not the reason Mrs Clinton will not get the
nomination this year blame instead the catastrophic mismanagement of her
campaign if you are looking for a single reason why the once inevitable
candidate has become the runner-up.
http://iretiredfromnewsletters.blogspot.com/2008/06/hillary-clintons-real-le
sson-for-women.html
Clinton to concede to Obama By Edward Luce in Washington DC. Copyright The
Financial Times Limited 2008. Published: June 4 2008 23:30 | Last updated:
June 5 2008 09:59. Hillary Clinton announced she would concede the
Democratic nomination race to Barack Obama. In an email sent on Thursday
the former First Lady said she would deliver on her earlier campaign promise
to support Mr Obama if he became the Democratic nominee. It followed a
feverish day in which Mrs Clinton was widely attacked for having taken her
time to publicly concede defeat. ²On Saturday, I will extend my
congratulations to Senator Obama and my support for his candidacy,² she said
in the email. ²This has been a long and hard-fought campaign, but as I have
always said, my differences with Senator Obama are small compared to the
differences we have with Senator McCain and the Republicans....In the past
few days, you have shown that support once again with hundreds of thousands
of messages to the campaign, and again, I am touched by your thoughtfulness
and kindness. I can never possibly express my gratitude, so let me say
simply, thank you.²
http://iretiredfromnewsletters.blogspot.com/2008/06/clinton-to-concede-to-ob
ama.html
Financial Times Editorial Comment: An Obama-Clinton dream ticket? Copyright
The Financial Times Limited 2008. Published: June 4 2008 19:44 | Last
updated: June 4 2008 19:44. The news that Barack Obama had crossed the
finishing line, had secured the Democratic nomination, and was thus quite
likely the next president of the United States was slow to reach Hillary
Clinton. While Mr Obama was telling his ecstatic supporters that ³this is
the moment² did he even promise to lower the oceans? Mrs Clinton was
thanking her troops for her own historic victory (in the popular vote,
correctly measured), explaining how they had made it possible, and asking
their advice on what to do next, since she had noticed confusion in some
quarters about who the winner really was. Predictably, therefore, as the
Democrats chose for the first time a black man to run for the White House
a historic moment, indeed Mrs Clinton contrived to make herself the main
story. She has also become the biggest test so far of Mr Obama¹s ability to
lead. How he deals with his disappointed rival and her avid followers over
the coming days is the most important decision he has to make between now
and the general election.
http://iretiredfromnewsletters.blogspot.com/2008/06/financial-times-editoria
l-comment-obama.html
I Am Not a Bargaining Chip, I Am a Democrat By Hilary Rosen. Copyright by
the Huffington Post. Posted June 4, 2008 | 09:54 AM (EST). Like this
story? Get Alerts of big news events. Enter your email address. Senator
Clinton's speech last night was a justifiably proud recitation of her
accomplishments over the course of this campaign, but it did not end right.
She didn't do what she should have done. As hard and as painful as it might
have been, she should have conceded, congratulated, endorsed and committed
to Barack Obama. Therefore the next 48 hours are now as important to the
future reputation of Hillary Clinton as the last year and a half have been.
I am disappointed. As a long time Hillary Clinton supporter and more
importantly, an admirer, I am sad that this historic effort has ended with
such a narrow loss for her. There will be the appropriate "if onlys" for a
long time to come. If only the staff shakeup happened earlier; if only the
planning in caucus states had more focus; if only Hillary had let loose with
the authentic human and connecting voice she found in the last three months
of the campaign. If only. If only. I have written many times on this site
about the talents of Hillary Clinton and why I thought she'd make a great
President.... But not my vote. I will enthusiastically support Barack
Obama's campaign. Because I am not a bargaining chip. I am a Democrat.
http://iretiredfromnewsletters.blogspot.com/2008/06/i-am-not-bargaining-chip
-i-am-democrat.html
Interactive map: Nomination race Published: February 4 2008 21:17 | Last
updated: June 4 2008 16:26. Copyright The Financial Times Limited 2008.
http://www.ft.com/cms/s/0/c27416ba-d33c-11dc-b861-0000779fd2ac.html
It Could Happen To You http://www.youtube.com/watch?v=aIUBqVMaOT4
Financial Times Editorial Comment: US presidential election starts over.
Copyright The Financial Times Limited 2008. Published: June 6 2008 19:48 |
Last updated: June 6 2008 19:48. With the terms of Hillary Clinton¹s
surrender unclear, it is too soon to say that Barack Obama can turn his full
attention to John McCain. He needs to deal with that distraction soon by
telling Mrs Clinton, with elaborate courtesy, that she will not be his
running mate and focus on his last remaining opponent. The debate that the
United States wants over the next few months is between him and Mr McCain.
Their differences are real and often stark. They have a lot to talk about.
So far, they have fought a phoney war. Mr Obama has described the prospect
of a McCain presidency as four more years of George Bush. That line delights
Democrats, but does not move voters at large though one must admit that Mr
McCain, with Republican loyalists in mind, has lately tried to validate the
charge. Most voters are sick of Mr Bush, yet the polls show Mr Obama and Mr
McCain running neck and neck. This White House is not, by default, going to
drag the Republican down. Mr McCain will have to choose that defeat for
himself, by turning into John McSame. Otherwise, Mr Obama will need another
strategy.
http://iretiredfromnewsletters.blogspot.com/2008/06/financial-times-editoria
l-comment-us.html
The world wants a vote in an epic presidential contest By Philip Stephens.
Copyright The Financial Times Limited 2008. Published: June 5 2008 20:17 |
Last updated: June 5 2008 20:17. These are times when everything is
measured against prior expectations, when tomorrow¹s news was discounted
yesterday, and when to be anything but cynical is to be credulous. So
perhaps we should not get too excited by the long-awaited confirmation that
Barack Obama will lead the Democratic party into this November¹s
presidential election. We have known for many weeks some would say months
that the senator from Illinois would win his party¹s race. The big
question has been when, and how, Hillary Clinton would reconcile herself to
defeat. By this weekend we should have the answer. As for Mr Obama, surely
he has lost his shine. His victory in Iowa, 50-odd primaries ago, mesmerised
the world well beyond the US. The vaulting rhetoric, the legions drawn in
from beyond politics, the ringing appeal for America to change: politics, it
seemed, had been turned on its head. January was a lifetime ago.
Familiarity has taken its toll. The fact that Mr Obama is black no longer
seems, well, quite so extraordinary. After months in the trenches against
Mrs Clinton, the man bidding to be the first African-American to win the
White House now has some political mud on his shoes.
http://iretiredfromnewsletters.blogspot.com/2008/06/world-wants-vote-in-epic
-presidential.html
Race, gender: Dueling discontents bubble up By Clarence Page. Copyright ©
2008, Chicago Tribune. June 4, 2008. Now that Sen. Barack Obama has
gathered enough delegates to clinch the Democratic presidential nomination,
a new opponent has appeared on his horizon: the grievance reflex. That's a
quirky trait in us human beings that makes us keenly aware of any unfair
edge that somebody has over us‹and just as easily ignores any unearned
advantage that we might happen to have over them. You could see the
grievance reflex at work during the final days of the Democratic nomination
marathon. For example, the primaries ended as they began, with apologies.
Remember when Sen. Joe Biden, the former Democratic presidential hopeful
from Delaware, found himself apologizing for what he thought was a
compliment? He referred to Obama as "clean" and "articulate," terms quickly
condemned as condescending by some of us hypersensitive black folks, among
other critics. That was child's play compared with Obama's recent
resignation from his South Side church, Trinity United Church of Christ,
after YouTube picked up video of a guest minister, the Rev. Michael Pfleger.
With his clownish mockery of Sen. Hillary Clinton, the white South Side
priest reignited the firestorm of controversy that Trinity's retired pastor,
the Rev. Jeremiah Wright Jr., lit under Obama's campaign in March.
http://iretiredfromnewsletters.blogspot.com/2008/06/race-gender-dueling-disc
ontents-bubble.html
Chicago Tribune Editorial - Obama vs. McCain. Copyright © 2008, Chicago
Tribune. June 4, 2008. Enough with all that tedious math over delegate
counts. The 2008 primary season is now over and the surviving Democratic and
Republican candidates can focus squarely, and only, on each other. Five
months from Wednesday, Americans will elect Barack Obama or John McCain to
the presidency of the United States of America. What a grand contest this
promises to be. We've rooted openly for these two since we endorsed them for
their respective party nominations before the Illinois primary: They're
energetic, electrifying politicians who got where they are by flouting their
parties' protocols of succession. They owe little to the establishment pols
who often dictate whose turn to be nominated has arrived. These two are
indebted only to themselves and to the millions of voters who believed in
each of them when their prospects looked insurmountably bleak. One man
makes history simply by prevailing: Illinois' Barack Obama is the first
African-American that either major party has set forth as its presidential
candidate.
http://iretiredfromnewsletters.blogspot.com/2008/06/chicago-tribune-editoria
l-obama-vs.html
Misplaced disdain - Candidates' attacks may come back at them By Steve
Chapman. Copyright © 2008, Chicago Tribune. June 1, 2008. John McCain and
Barack Obama are savvy politicians who have won numerous elections and stand
poised to capture the biggest office of all. So obviously, each has a good
ear for what will persuade voters and what won't. But even Pavarotti
sometimes missed a high note. And lately both candidates have been
noticeably off-key. McCain's bad moment came after Obama expressed
bewilderment at his opposition to a new GI Bill expanding educational
benefits for veterans. Instead of explaining the genuine flaws in the
legislation, McCain decided to climb on his high horse. "And I will not
accept from Sen. Obama, who did not feel it was his responsibility to serve
our country in uniform, any lectures on my regard for those who did," he
said, dripping with contempt. You catch more flies with honey than with
vinegar, and McCain's jibe demonstrated that his personality has an excess
of acid content. Angry young men may be indulged, but angry old men tend to
get dismissed.
http://iretiredfromnewsletters.blogspot.com/2008/06/misplaced-disdain-candid
ates-attacks.html
Chicagoland
Chicago makes cut, has Olympic-size to-do list By Kathy Bergen and Jon
Hilkevitch. Copyright © 2008, Chicago Tribune. June 5, 2008. Chicago made
it into the final phase of the competition to host the 2016 Olympics, but it
has some heavy barbells to hoist if it is to capture the gold. The Second
City ranks only third of the four finalists selected Wednesday in Athens by
the International Olympic Committee's executive committee. Technical
evaluations by an IOC working group cited weak spots in Chicago's
transportation plan; construction budgets that appear to be too low; and
financial guarantees that don't meet IOC requirements. Apparently United
States Olympic Committee Chairman Peter Ueberroth was on target this spring
when he said the Chicago bid is nowhere near being No. 1 in the race for the
Summer Games. Tokyo was judged to be the leader on technical issues,
followed by Madrid. Rio de Janeiro followed Chicago. The IOC executive
committee eliminated Prague; Doha, Qatar; and Baku, Azerbaijan. Being No. 1
at this phase is hardly essential: Both London and Sochi, Russia, were No. 3
at this point in their separate competitions, and they went on to win the
2012 Summer Games and 2014 Winter Games, respectively.
http://iretiredfromnewsletters.blogspot.com/2008/06/chicago-one-of-four-fina
lists-for-2016.html
Chicago Tribune Editorial - Get just one thing right. Copyright © 2008,
Chicago Tribune. June 2, 2008. Find the logic here: The people who run
the Illinois legislature passed a budget over the weekend and largely
ignored everything Gov. Rod Blagojevich wanted. No surprise there. It was
clear way back in February, when the governor served up his annual budget
address, that he wasn't going to be a factor this year. When nobody trusts
you‹nobody trusts you. But in passing a budget that is way out of whack
(lawmakers have pretty much admitted they don't have the money to pay for
all the spending they approved) they have managed to make Blagojevich
relevant again. Suddenly, he's Mr. Responsibility. He has to use his veto
power to balance this budget. Imagine that. You have to go some to make
Blagojevich look like the adult in Springfield. But that's what the
legislature did.
http://iretiredfromnewsletters.blogspot.com/2008/06/chicago-tribune-editoria
l-get-just-one.html
Lawmakers back campaign cash crackdown Posted by Ray Long, Ashley Wiehle,
and Jeffrey Meitrodt. Copyright © 2008, Chicago Tribune. Updated at 9:54
p.m. with Blagojevich comment. Without a single dissenting vote, Illinois
lawmakers sent Gov. Rod Blagojevich on Saturday a measure aimed at reining
in the widespread practice of pay-to-play politics that often allows big
campaign contributors to land lucrative state contracts. The proposal is
largely inspired by the Democratic governor, whose campaign fund has
collected huge amounts of cash from state contractors. Despite the
criticism, Blagojevich attempted to spin the bill¹s passage as a positive,
asking ³what took them so long?² ³I am looking forward to, with great
enthusiasm, acting in a very positive way on that bill,² Blagojevich said.
³But I will say there¹s a lot more work to do on that issue. In fact there¹s
significant things that I think we can do and hopefully move that process
forward.² The legislation does not restrict contributions to lawmakers,
critics noted, and may leave a loophole that would let the governor or
others circumvent the restrictions.
http://iretiredfromnewsletters.blogspot.com/2008/06/lawmakers-back-campaign-
cash-crackdown.html
Chicago Tribune Editorial - Rezko's guilty. Who's next? Copyright © 2008,
Chicago Tribune. June 5, 2008. The Justice Department's prosecution of
Antoin "Tony" Rezko was always about prelude, never about climax. The jury's
conviction of Rezko Wednesday on 16 criminal counts is one more point on a
long investigative arc‹an arc now pointed directly at Gov. Rod Blagojevich
and other of his associates. That arc reaches beyond the horizon to points
none of us can see. But prosecutor Christopher Niewoehner unequivocally‹and
forcefully‹told the Rezko jurors during closing arguments where federal
authorities now are concentrating: "This is a crime that involves the
highest levels of power in Illinois." All of us have seen before how the
office of U.S. Atty. Patrick Fitzgerald follows these investigative arcs in
pursuit of official corruption (among others, see Ryan, George, and Sorich,
Robert, both in extended engagements with the U.S. Bureau of Prisons). The
feds now can exploit Rezko's conviction to learn whatever he or other
political players will divulge about the Illinois culture of political
sleaze. As Rezko abruptly transitions from newly christened convict to
object of speculation‹Will he seek to cut his prison time by cooperating
with the FBI?‹there is much for the 12 million people of Illinois to ponder:
http://iretiredfromnewsletters.blogspot.com/2008/06/chicago-tribune-editoria
l-rezkos-guilty.html
Rezko is not just Obama's problem‹he's the GOP's By John Kass. Copyright ©
2008, Chicago Tribune. June 5, 2008. Will Sen. Barack Obama declare that,
if elected president, he would not pardon his fundraiser and personal real
estate fairy, Tony Rezko, who was convicted Wednesday of multiple corruption
charges in a Chicago federal court? Obama is Mr. Reform, isn't he? And
that's a legitimate question, isn't it? The National Republican Party is
making a big deal out of Rezko, with a snazzy new Barack-Rezko video,
questioning Obama's judgment for buying that $1.6 million dream house, with
the Rezkos purchasing the lot next door on the very same day in what looked
like an old-fashioned back-scratching. "On the day Barack Obama hoped to
unite his party after wheezing over the finish line and claiming the
Democratic nomination, a jury in his hometown of Chicago convicted his
longtime friend and fundraiser Tony Rezko of multiple felonies," said
Republican National Committee Chairman Robert M. "Mike" Duncan.
http://iretiredfromnewsletters.blogspot.com/2008/06/rezko-is-not-just-obamas
-problemhes.html
GLBT
California Supreme Court refuses to delay gay marriage - The ruling, on a
4-3 vote, means same-sex couples could tie the knot later this month. By
Maura Dolan and Jessica Garrison. Copyright © 2008, The Los Angeles Times.
June 5, 2008. SAN FRANCISCO - Gay couples in California rushed to set
wedding dates Wednesday after the California Supreme Court's unusually quick
rejection of challenges to its historic decision permitting same-sex couples
to wed. By rejecting petitions asking for reconsideration of the May 15
ruling, the court, in a 4-3 vote, removed the final obstacle to same-sex
marriages starting June 17. The court also refused to delay enforcement of
the decision until after the November election, when voters will decide
whether to reinstate a ban on same-sex nuptials.
http://iretiredfromnewsletters.blogspot.com/2008/06/california-supreme-court
-refuses-to.html
Gay marriage ban qualifies for California ballot. Copyright 2008 Associated
Press. 4:47 AM CDT, June 3, 2008. SAN FRANCISCO - California's Secretary
of State says an initiative that would again outlaw gay marriage in the
state has qualified for the November ballot. Debra Bowen says a random
check of signatures submitted by the measure's sponsors showed that they had
gathered enough for it to be put to voters. The measure would amend the
state constitution to define marriage as a union "between a man and a
woman." It would overturn the recent California Supreme Court ruling that
legalized same-sex marriage in the state if it is approved by a majority of
voters on Nov. 4.
http://iretiredfromnewsletters.blogspot.com/2008/06/gay-marriage-ban-qualifi
es-for.html
Chicago Sun-Times Editorial - OK of gay marriage is up to lawmakers, courts
-- not N.Y. gov. Copyright by The Chicago Sun-Times. June 2, 2008. Ellen
DeGeneres and her girlfriend Portia de Rossi are engaged. She made the
announcement on her talk show last month after the California Supreme Court
overturned a ban on same-sex marriage. Ellen is flush with excitement over
the prospect of wedded bliss, and she has asked recent guests on her TV show
to help her plan the nuptials. This has included Sen. John McCain, whom she
asked to walk her down the aisle. She also had Laura and Jenna Bush on the
other day, and they talked about the first daughter's recent wedding at the
Bushes' Texas ranch. "Can we borrow it for our wedding?" DeGeneres asked.
"Can we get the ranch?" Ellen is adept at using humor to drive home a
larger point: Gay people should be allowed to marry.
http://iretiredfromnewsletters.blogspot.com/2008/06/chicago-sun-times-editor
ial-ok-of-gay.html
Gay rights activists defy authorities with rallies. Copyright 2008
Associated Press. 6:06 AM CDT, June 1, 2008. MOSCOW - Gay rights activists
held small, scattered protests in Moscow on Sunday, flouting repeated
refusals from city authorities for permission to hold parades or
demonstrations. Activists repeatedly have tried to hold parades and rallies
in the Russian capital to call attention to gay rights. Moscow Mayor Yuri
Luzhkov, who has called homosexuality "satanic," has refused them
permission. On Sunday, a small group of protesters gathered outside the
famed Tchaikovsky music conservatory, chanting "No to homophobia" and other
slogans, organizer Nikolai Alexeyev told Ekho Moskvy radio. Hundreds of riot
police and journalists ringed the square in front of City Hall just a few
blocks away in anticipation of a larger protest that had been promised but
never materialized. Supporters unfurled a banner from a building over the
square reading "Rights For Gays and Lesbians!" before police pulled it down.
http://iretiredfromnewsletters.blogspot.com/2008/06/gay-rights-activists-def
y-authorities.html
Out and proud, but hardly comprehensive - Look at Chicago gay life is
missing a few things By Misha Davenport - mdavenport at suntimes.com.
Copyright by The CHICAGO SUN-TIMES. June 1, 2008.
http://www.suntimes.com/entertainment/television/981741,SHO-Sunday-out01.art
icle. He who controls the past commands the future. -- George Orwell.
Having been around, participated in and reported on various gay, lesbian,
bisexual and transgendered events and issues over the years, I'd be the
first to tell you that no one will ever be able to meet the needs of
everyone in such a diverse community. Jane Lynch narrates ³Out & Proud in
Chicago,² a documentary about 150 years of gay life in the Windy City.
"Out & Proud in Chicago" attempts to distill nearly 150 years of Chicago's
LGBT history into a 90-minute documentary. "The documentary is driven by
personal voices and personal stories," producer Dan Andries told me. "That's
it's guts. That's its basic structure. Ultimately, it's also got to be 90
minutes long."
http://iretiredfromnewsletters.blogspot.com/2008/06/out-and-proud-but-hardly
-comprehensive.html
Bomb Threat at WTTW Offends All of Chicago. The Chicago Commission on Human
Relations, through its Chairman and Commissioner Dana V. Starks, condemns
the bomb threat received by WTTW11 in clear reference to its upcoming
television program ³Out & Proud in Chicago,² a presentation of the history
of the lesbian, gay, bisexual and transgender (LGBT) community in Chicago.
³It is shameful and disgusting that this is how our LGBT community can be
treated in Chicago. While we would like to believe that this kind of
homophobia was a thing of the past, unfortunately it continues ‹this time at
the expense of WTTW, Northeastern Illinois University, and also the entire
LGBT community,² said Starks.
http://iretiredfromnewsletters.blogspot.com/2008/06/bomb-threat-at-wttw-offe
nds-all-of.html
Living Trusts A Smart Way to Avoid Probate By Roger McCaffrey-Boss.
Copyright by Gay Chicago Magazine and Roger McCaffrey-Boss. June 3, 2008.
The last four articles concerned what to do when someone dies and the legal
responsibilities of being an executor for a probate estate of someone who
dies. Being an executor of an estate can be a thankless, time-consuming and
sometimes costly job and can involve considerable time, sometimes stretching
over a period of up to three years. More and more LGBT couples are using
revocable living trusts as a way to efficiently pass on their assets to
their partners upon death and to insure that their partners will handle
their personal affairs if they ever become incapacitated. A revocable living
trust is a legal arrangement where a person executes a written trust
document naming themselves as the trustee of their own trust and while alive
they transfer their property to their trust so that the trust holds legal
title to all their assets.
http://iretiredfromnewsletters.blogspot.com/2008/06/living-trusts-smart-way-
to-avoid.html
Health Care
Medicare drug plan costing seniors more By Ricardo Alonso-Zaldivar.
Copyright © 2008, Los Angeles Times. June 5, 2008. WASHINGTON ‹ As if
soaring prices for food and gasoline weren't enough of a worry, most senior
citizens in Medicare's prescription program are paying considerably higher
monthly premiums for coverage this year, according to a study to be released
Thursday. Those in the 10 largest plans ‹ which account for nearly
three-fourths of seniors signed up for drug coverage‹are paying an average
of $26.39 a month, or 16 percent more than last year, according to the
analysis by Avalere Health, an information company serving the health-care
industry. The rise is modest in dollar terms, and some of the top plans
actually lowered their premiums for 2008. But on average, the percentage
increase for the prescription plan is greater than the change in Medicare's
Part B premium for outpatient care, which rose 3 percent in 2008. "A 16
percent increase is significant in and of itself, because premiums are
rising rapidly at a time when Medicare beneficiaries are finding it harder
to afford it," said Dan Mendelson, president of Avalere. "These are
individuals on a fixed income who are facing rapidly rising prices elsewhere
in the economy."
http://iretiredfromnewsletters.blogspot.com/2008/06/medicare-drug-plan-costi
ng-seniors-more.html
Technology
Apple relents on iPhones subsidy By Andrew Parker in London, Paul Taylor in
New York and Richard Waters in San Francisco. Copyright The Financial Times
Limited 2008. Published: June 6 2008 22:39 | Last updated: June 6 2008
22:39. The new version of the Apple iPhone is set to be sold at
significantly lower prices than the existing one, in a tacit acknowledgement
by the US technology company that its previous sales strategy was not
sustainable. Apple has bowed to pressure from mobile phone operators and
agreed they can subsidise the latest iPhone, expected to be unveiled by
Steve Jobs, Apple¹s chief executive, on Monday. The subsidy arrangements
should increase Apple¹s chances of hitting its target of selling 10m iPhones
during 2008.
http://iretiredfromnewsletters.blogspot.com/2008/06/apple-relents-on-iphones
-subsidy.html
Other
A commuted sentence, and a life reborn By CAROL MARIN cmarin at suntimes.com.
Copyright by The Chicago Sun-Times. June 7, 2008. Ten days ago, I took a
trip I wouldn't have predicted. This is a story about a near-execution, a
graduation and a decision by former Gov. Jim Edgar that has delivered
unexpected consequences. It's a story about rising up and reaching down.
In January 1996, Guin Garcia, an inmate on Death Row at Dwight Correctional
Center in Downstate Illinois, was on the verge of execution. Months
earlier, Garcia, a 36-year-old convicted double murderer, had dropped her
court appeals, said she was done "begging for her life" and put the wheels
in motion for her death by lethal injection. It would mark the first
execution of a woman in the U.S. in two decades. It became an international
story. Garcia's biography wasn't pretty.
http://iretiredfromnewsletters.blogspot.com/2008/06/commuted-sentence-and-li
fe-reborn.html
New! Carlos now has an online store. Order your books directly from Carlos
and have them signed and dedicated. http://www.carlostmock.com/catalog/
In Pride (orgullo),
Carlos T. Mock, MD
Www.carlostmock.com
Author: Borrowing Time: A Latino Sexual Odyssey - Floricanto Press 2003.
Nominated for a Stonewall Award by the American Library Association GLBT
Round Table.
Author: The Mosaic Virus Floricanto Press 2007. Nominated for a Stonewall
Award by the American Library Association GLBT Round Table, and a Lammie
from The Lambda Literary Foundation
Author: Author: Papi Chulo Floricanto Press 2007. Nominated for a
Stonewall Award by the American Library Association GLBT Round Table, and a
Lammie from The Lambda Literary Foundation
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