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Economics: The 700 Billion Dollar Bailout

Well, last night our out going president on his television address to the nation noted that a recession is quite real, more banks will fail, and the likelihood of more Americans loosing jobs is not far fetched. So what’s new? The 700 billion dollars the government plans to inject into the stock market to attempt to avoid a recession. Way to go Mr. Bush. My taxes will increase because of the greed of mortgage lenders, brokers, and Americans who wanted to live in homes they knew they could not afford. But the sad fact is that if money is not injected in to the market, the American economy will crumble and hard at that. So you are right? However, what I don’t get is that top ecomomic advisors couldn’t anticipate the impending future a year ago or did they and choose to do nothing at all? I think the latter is more in line considering the simplicity of problem.
It’s basic economics 101. People put zero down on a 600K home, without having any collateral in the bank, and earning 40K a year, something is bound to go wrong. While banks were underwriting these high risk loans and raking in the interest, all was well in the land. But these loans were difficult to maintain because people were working harder and longer hours to keep up with the payment and then they couldn’t after a few years or months. Thus, foreclosures swept the land from one neighborhood to the next and banks were forced to expose their financials which led to falling stocks and bankruptcy filings.
So it is with regret, that I support the 700 billion dollar initiative by the government to keep the economy afloat. There are no alternatives as I see it. If the economy fails, working Americans will face an extremely difficult future.
Andrew

American Greed: Where are the Financial Gurus and Pundits Now?

Well it is no news now that Morgan Stanley and Washington Mutual are looking for capital. Yes, they are failing too. Morgan Stanley is now in advance discussions to merge with Wachovia and WAshington MUtual, well, the once fearful giant borrowed 58 billion USD form the federal home loan system and cannot pay it back. The only potential suitors for WAMU are JP Morgan, HSBC, or Wells Fargo according to CNBC news, Guess what? They are the only major financial institutions afloat now.

In light of AIG, Lehman Brothers and Merrill Lynch on Monday, the feds are currently in talks to takeover most of those bad loans, thus, dumping billions into the market to ease the distress the is causing ripples globally. But where is this money going to come from? You guessed it, you the tax payer because America has nothing left; it was all spent on the war in Iraq by the Bush administration.
This evening 9/18/2008,House Speaker Nancy Pelosi was briefed by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, both of whom I think should be fired.

The purpose was to solidify a financial plan to relieve the remaining banks of the bad loans they undertook over the last few years.

So what is to be blamed? American Greed that who. While banks got away with murder by underwriting bad loans in light of soaring stock prices executives and made millions and shareholders saw a bump in their portfolios. But as the old adage goes” What goes up, must come down” and indeed this is coming down hard. Where are the pundits and Gurus now? Only a few weeks ago, I saw many of them on television noting that this will pass and America is not in any way shape or form near a recession. Can they say the very same today? I am not sure because they are no where to be found.

Can America get out of this one? According to Alan Greenspan, we have less than 50% chance. How right was he, we will just wait and see as it all unfolds.

For now, I am certain that the chaos on Wall Street will continue as this financial horror flick continues with out intermission. The fact is the Pundits and Gurus were all wrong and they know it. The people who follow the financial markets know who they are and it would be a shame to listen to them rant about what they are unfamiliar with going forward. America as we know it has changed dramatically over the last few days and the world is watching. China and the UAE especially are keeping a close eye.

Andrew

NY Coalition to Expand Voting Rights: Press Conference from City Hall, New York

Did you Know that More than 1 million adult New York City residents can’t participate in local elections. That is 20% of adult New Yorkers and more than the population of 11 states! Is this really democracy?Every year, immigrants pay $ 18.2 billion in New York State income taxes at the exact same tax rate as their citizen neighbors. This is taxation without representation. More and more immigrants are joining and supporting labor unions, but can’t effectively demand that their elected officials support the legislation suggested by their union to provide affordable housing, high-quality education and access to health care in our neighborhoods. Read more

San Francisco: Photos from the Golden Gate City

San Francisco is a unique and breathtaking metropolis. From the famous icon of the Golden Gate Bridge to the exquisite art galleries at SFMOMA, the City takes pride in its unrivaled attractions, renowned museums, and its unique neighborhoods which are treasures of its own. Discover the variety of sites, shops, and restaurants that reflect the City’s great ethnic and cultural diversity.
Around 10,000 years ago, before the Pacific waters had breached the span now covered by the Golden Gate Bridge, the history of the Ohlone people native to San Francisco had already begun. Complex chiefdoms arose and fell, the scarce remnants of which are the infamous “shellmounds,” large heaps of piled shells and other artifacts on the Bay Area’s shores. San Francisco history continued untouched by Europeans until 1579 when Sir Francis Drake, the decorated English looter of Spanish galleons sailed past the entrance to the San Francisco Bay (locals now know how damp and dense the fog can be on Ocean Beach in June), dubbed a stretch of Marin “Nova Albion” and sailed away.

Las Vegas: Photos from the Entertainment Capital of the World

Las Vegas is unique among U.S. cities. Famous for Las Vegas is unique among U.S. cities. Famous for luxury casinos and show palaces offering non-stop recreation on the “Strip” and in downtown Casino Center, the city has over the years become synonymous with glitter and glamour. Las Vegas since the late 1980s has acquired another identity as a center for business, finance, transportation, and services; still the “Entertainment Capital of the World,” it has actively and successfully cultivated a diversified economy. The Las Vegas resident can enjoy legalized gaming, yet more often will take advantage of the diverse range of cultural and recreational opportunities offered in the city and in the surrounding area.

and show palaces offering non-stop recreation on the “Strip” and in downtown Casino Center, the city has over the years become synonymous with glitter and glamour. Las Vegas since the late 1980s has acquired another identity as a center for business, finance, transportation, and services; still the “Entertainment Capital of the World,” it has actively and successfully cultivated a diversified economy. The Las Vegas resident can enjoy legalized gaming, yet more often will take advantage of the diverse range of cultural and recreational opportunities offered in the city and in the surrounding area.

Los Angeles: Photos from the City of Angels

Home to Hollywood’s glamour, renowned business institutions and nearly four million residents, Los Angeles is one of the world’s most diverse cities. This sprawling metropolis is known as the center of the entertainment industry as well as a capital of education, science and art. Every year, thousands flock to this southern California paradise for its beautiful beaches, fabulous weather and endless possibilities.While the land is known for glitz and glamour, it’s almost as widely known for its horrendous freeway traffic. While the Los Angeles County Metropolitan Transportation Authority carries over a million passengers on its subway, railways and buses, most residents choose to travel via car, making Los Angeles the most car-populated area in the world. Millions of people travel on the area’s 27 freeways every day.

Italy: Told from a photo Gallery

Italy, slightly larger than Arizona, is a long peninsula shaped like a boot, surrounded on the west by the Tyrrhenian Sea and on the east by the Adriatic. It is bounded by France, Switzerland, Austria, and Slovenia to the north.The migrations of Indo-European peoples into Italy probably began about 2000 B.C. and continued down to 1000 B.C. From about the 9th century B.C. until it was overthrown by the Romans in the 3rd century B.C. Ancient Rome and the Italian Renaissance gave Italy a rich architectural heritage that influenced building design around the world.Italy is justly renowned for many centuries and styles of stunning architecture. The style of architecture known as Italian was first developed by Filippo Bruneschelli, and blossomed during the 15th, 16th, and 17th centuries; it was an assimilation of classical circular-arch form to modern requirements. In Rome it conformed most to ancient types; in Venice it assumed its most graceful form. Filippo Brunelleschi (1337–1446) is widely considered the first Renaissance architect. Trained as a goldsmith in his native city of Florence, Brunelleschi soon turned his interests to architecture, traveling to Rome to study ancient buildings. Among his greatest accomplishments is the engineering of the dome of Florence Cathedral (Santa Maria del Fiore, also known as the Duomo). He was also the first since antiquity to use the classical orders Doric, Ionic, and Corinthian in a consistent and appropriate manner

Cuba: Havana from the Heart

Cuba is a totalitarian police state, which relies on repressive methods to maintain control. These methods, including intense physical and electronic surveillance of Cubans, are also extended to foreign travelers. Americans visiting Cuba should be aware that any encounter with a Cuban could be subject to surreptitious scrutiny by the Castro regime’s secret police, the General Directorate for State Security (DGSE). Also, any interactions with average Cubans, regardless how well intentioned the American is, can subject that Cuban to harassment and/or detention, and other forms of repressive actions, by state security elements. The regime is strongly anti-American yet desperate for U.S. dollars to prop itself up. The United States does not have full diplomatic relations with Cuba, but provides consular and other services through the U.S. Interests Section in Havana. The U.S. Interests Section operates under the legal protection of the Swiss government but is not co-located with the Swiss Embassy.

Cuba: A Pictorial Glimpse Continued

Cuba has a mixed population, with one percent Chinese, eleven percent black, thirty seven percent white and a major fifty one percent being mixed black and white, mulatto. The female population is 5,580,500 while the male population is around 5,597,233. The birth rate of Cuba at 9.88 births per thousand is one of the lowest in all of the Western Hemisphere. The population rate has stopped in the last few decades, though the total population has increased from seven million to around twelve million since the sixties.
Cuba has socialist principles and has a state controlled economy. The government controls the major means of production. Most of the labor force is employed by the state. The private sector is just starting out. The main industries in Cuba are the petroleum, tobacco, nickel, cement, steel, agricultural machinery, pharmaceuticals and the sugar industries. The Cuban GDP is around $32 billion. Cuba’s major agricultural products are tobacco, citrus, rice, potatoes, beans, livestock and sugar. The currency of Cuba is the Cuban Peso.
In February 2008, an aged and ailing Fidel Castro resigned as Cuba’s president, ending 49 years of uninterrupted rule. He named his brother, Raul, as successor.

Cuba: A pictorial Glimpse

Cuba is the most populated country in the whole of the Caribbean. The official name for Cuba is Republic of Cuba. The Tropical Island extends 750 miles (roughly the size of Pennsylvania) and is a beautiful mix of mountain ranges and plains. There are over 200 bays and 289 sun drenched beaches to explore. The City of Havana, located on the northern coast, particularly allures tourists with its architectural riches, the treasures of Old Havana and the cosmopolitan nature surrounding it.Like its population, Cuba also has a smattering of religions, making it a very diverse cultural place. The most prevalent faith professed in Cuba is Christianity. Cuba also has Protestants, Jews, Muslims and members of the Bahai faith. Another unique religion that is rampant in Cuba is Santeria, a mixture of Catholicism and other African faiths.

Wow! What took them so long?

All CARIFESTA X venues except the National Stadium now Ticket Free
THE CARIFESTA Secretariat yesterday announced that all CARIFESTA X performance venues except for the National Stadium will not require a ticket.
Persons are, however, advised that entry to events will be on a first come, first served basis.
This decision took effect from yesterday. - Guyana Chronicle

It seems like Guyanese living in Guyana can actually get to see and partake in some of the Carifesta festivities. But the question is how many will? According to our sources living in Guyana, Carifesta flames went up in smoke on Friday night where many across the nation and other parts of the Caribbean switched off their television sets in the midst of the proceedings. Moreover, it seems like the Guyana Chronicle and Stabroek News are at odds with each other. Both prints are running opposite stories. Guyana Chronicle staying on the positive side and Stabroek News on the negative side. What’s going on? That’s the question. I’ve watch a few of the videos on YouTube and Stabroek news, and the scenes were as ghetto as ever. If what I saw was not a display of disorganization then, I don’t know what is. But Guyana again is not ready to host any type of regional event at all and I hope other Caribbean nations have noticed the same too. What was Frank Anthony thinking when he thought he support an event of such magnitude? I do hope for the remainder of Carifesta, working Guyanese actually get to attend some of these events because is a time for all Guyanese to enjoy, not the privileged few.

Andrew

Carifesta: Many Guyanese are locked out

hThe verdict is that many Guyanese are returning home with out tickets for the upcoming Carifesta events which start tomorrow. How can this be? Guyanese, all around Guyana counted the days when Carifesta would begin and planned their schedules accordingly to be able to attend the events. But now many have returned home without any hopes of ever getting into the events because there were no tickets available to supply the Guyanese public. It is simply because Guyana is simply not ready to entertain any regional events but government of Guyana had thought otherwise. How can you have fifteen thousand seats to entertain a semi global event on opening day? The government of Guyana needs a reality check. Guyana is not like any other nation in the Caribbean; it does not have any sort of solid infrastructure to host any event that is of the Carifesta scope. About 30 countries are participating and along with these countries comes an entire slue of people. How will Guyanese be able to attend an event in their own home country, when the government did not allot any space for them. This is sad and a shame. It is sad to see that the government of Guyana has forgot about its’ own people. They themselves have siphoned out the tickets for their own social group. Instead of cultivating one Guyana, the government has successfully accomplished the opposite. What a bunch of losers running that county. Events like these lead to riots and racial divide and this is one aspect of Guyanese life that is all too real, If such should happen again, I will not be surprised because it will be the deliberate fault of the Guyanese government to exclude its own people of being part of what is actually theirs. I would like to see Jagdeo, Persaud and the rest of the clueless gang explain this one on an open platform. I hope CN Sharma is got some tickets and get his camera in there and get some clips of these officials co-mingling with there upper class counter parts, Carifesta is suppose to inspire young Guyanese to uplift themselves, instead it has divided a nation in a single moment.
Andrew

Breaking News from Guyana: No tickets available to the Public for Carifesta

Our sources in Georgetown for two day now were trying to acquire tickets for the Carifesta events, since the tickets became available to the public on Tuesday August 19 2008. They stood on line at the Cultural Center, Theater Guild, 91 Middle street CARIFESTA Secretariat and Sophia locations. As of 12 pm today August 21 2008 they have not been able to acquire any tickets neither were many members of the general public. Moreover, we were told that the tickets after being printed went into the hands of top government officials and were distributed to family members and close associates. The information related about ticket distribution were less than truthful. The scene in Georgetown is absolutely chaotic right now according to one of our associates. He is currently standing at the 91 middle street locations, hoping for a miracle. Read more

Carifesta: If they can’t get Tickets distributed properly, what should we expect for the Event?

Free tickets for carifesta became available to the public on Monday 19th August, however as you will read below, a lack of basic organization among the coordinators and distribution sector are causing some hiccups. Our contacts in Guyana called the three numbers posted below to get some information if tickets were still available since tickets will be given on a first come first serve basic. Guess what? They lines are ringing out. Shouldn’t there be someone there at 9:00am in the morning to receive phone calls since Carifesta begins two days from now. Should we expect anything different for any government agency in Guyana? Absolutely not! This is just a common theme that is a part of Guyanese life, where government agencies distribute public access numbers but no one at the end of the line to pick up the phone. Moreover, can’t understand the logic of having three distribution centres in Georgetown and zero in Berbice. Who is catering for the people in the Berbice region? If there is a Berbice location, no one is aware of it, because it is not posted on the Carifesta website. Again, it lack of basic coordination and leadership; that one is for you Minister of Culture Sport and Young People. That’s the Minister with the longest title in the history of public office titles.

Carifesta Organizers, it is time to get you acts together. This is your only chance to showcase Guyana, because the next round is the Bahamas and you know they going to do it right.

The following contact was posted on the Carifesta website for info in obtaining tickets and further below is the snippet for Stabroek News I referenced to above.

Andrew

CONTACT
Carolyn Walcott
Media Coordinator-CARIFESTA Secretariat
91 Middle Street
91 Middle Street
Guyana
Tel :( 592)225-0337; 225-9840, 225-9845
http://www.carifesta.net/

As of yesterday afternoon the Linden Carifesta Secretariat had not received any tickets for the opening and closing events in the city.
Public Relations Officer of the Regional Democratic Council and regional representative at the National Secretariat, Leon Roberts told Stabroek News yesterday that after learning on Monday that tickets will be available, he went to the National Secretariat at Middle Street. He was told after arriving at 2 pm on Monday that tickets will be available for collection at 4 pm. At 4 pm he was referred to an official who is responsible for ticket distribution and identified himself. Roberts said that he was told by the official that she was unaware of any Carifesta committee in Linden. Roberts indicated that he wanted to make clear that the 18-member committee was set up based on a request by Culture Minister Dr. Frank Anthony.
“We have in our possession no tickets for national events”, he reiterated.
It was noted that four packages were sent to individuals in Linden with tickets. The PRO noted that the Regional Executive Officer (REO) had a package addressed to him; a package was addressed to the Linden Economic Advancement Programme (LEAP); a package was addressed to the Regional Chairman Mortimer Mingo and another to Horace James of the Linmine Secretariat and member of the Region’s Carifesta Committee.
He noted that yesterday morning he found out that the Regional Chairman was able to intercept three packages. In terms of tickets for national events, Roberts stated, Mingo’s packet had 10 tickets for the closing and 10 for the opening. The three packages also included over 1000 tickets for the Region 10 Signal event for August 28 that will see participation by international artistes. And Committee Member Neil Fraser who was in the city yesterday was able to secure 500 tickets also for the August 28 event at the Mackenzie Sports Club (MSC), that has a maximum capacity of 10,000.

Must Read: Some morons on the loose again in Guyana.

“Life in Guyana is a two-sided coin
While traveling along the East Bank of Demerara thoroughfare recently, I noticed men at work ‘sweeping’
the parapets in the vicinity of Providence.
Interestingly enough, after they would have heaped their rubbish — which was mostly soil — they proceeded to throw it into the trench which runs parallel to the roadway.
Mind you, this is the same trench — like many others — that hundreds of thousands of dollars were spent on to desilt so as to lessen the likelihood of flooding.
Music has been banned from public transportation because, as has been cited by the Minister of Home Affairs, the high decibels impair drivers’ concentration.
This in turn leads to poor judgment and consequent accidents. What about the ‘private’ vehicles? Are these drivers, too, not prone to the same effects loud music has on their ability to concentrate?
Aren’t the music sets in these vehicles as offensive as those in the public transport system, especially when they are belching out lewd tunes?”
Amanda Prescott

As to garbage dumping, I don’t know what to say except some garbage bags might be nice but the government cannot afford it. Man! What the hell are they doing in that country? But this is Guyana, miles behind the competition. The problem with Guyana is that no one cares and why should they. The young are escaping and the old do when the opportunity arises and the government remains because, life is good in them parts. They get to live a quality driven life, traveling the world on the blue color tax dollars and justifying it as government related imitative.
As to the music, there was nothing else to do in the office of the minister one afternoon. So he said, lets see what I can do to make myself an even bigger moron. Maybe, I should make the roadways silent. No wait! Let just make public transportation silent, private vehicles can see the accident coming and avoid it but the operators of public transportation are incapable of doing so. Sometimes, I ask myself how these guys actually get elected into office. It’s the big fish in little pond syndrome, no! Way to go minister, you can add this initiative to your resume as an extra circul