Home prices drop 18%

Home prices in October have fallen by 18% across the US. The S&P Case Shiller index, a scale where housing prices are carefully watched, has posted losses for 27 months in a row. In October, 14 out of 20 cities watched set new decline records. David Blitzer, Chairman of the Committee at S&P's, announced, "Home prices are back to their March 2004 levels." The region hit the worst is the Sunbelt, but prices are also falling almost everywhere else. Housing prices in Phoenix, Las Vegas, San Francisco, Miami, Los Angelos, and San Diego have all fell by around 30% annually for the past few years. This so-called "20-City Composite" is down by 23.4%, with three more cities falling by double-digits. The Pacific Northwest and Mid-Atlantic South is also subject to price reductions in the housing market.
According to Blitzer, factors turned negative starting November. He says, "Everyone felt relatively optimistic," until the Lehman Brothers collapse in September. Foreclosure still is a problem, as they tend to sell lower than average priced homes. An additional 85,000 foreclosures added new housing to the market whose price is falling.

Many plans have been made to help the bolster the economy as a whole, but only one housing bill has been passed. Bailouts have been given, targeting industries such as the auto industry, but nothing has been done to help Main Street keep their houses. The housing industry was the center of media attention for a while, then faded away. People are losing houses daily. Congress and the White House should focus on helping people solve their individual problems first, then do the economy. If people don't have to worry about their debts, then they will start spending, which stimulates the economy. To bring America out of recession, Americans must be able to spend. Current benefits are being saved in banks even though they will be losing money based on inflation and an almost-0% interest rate. This housing crisis must first be solved in order for any progress to continue.

http://money.cnn.com/2008/12/30/real_estate/October_Case_Shiller/index.htm?postversion=2008123011

Your paycheck bonus from Obama

President-elect Obama promised many ways to stimulate the economy and helping Main Street on his campaign trail. With many families short on cash, Obama's plans could bring home some much-needed money. However, most of his plans will take time. The proposal that will get money quickly in the hands of the people that need it is his Make Work Pay Credit. This would basically be a payroll tax credit, $500 for individuals and $1,000 for couples. The money would be delivered by having employers reduce tax withholding in a person's paycheck. Full credit is limited to those making under $75,000 a year, and $150,000 for couples. Anyone making between $75,000-$85,000 a year (per person) would get partial credit. If a worker received a paycheck every two weeks, they would get $19.23 every paycheck, $38.46 for couples per pay period.

This is definitely the most helpful bill plan that can be put into effect. Obama and his team has made this plan clear and simple for lawmakers and American citizens alike to see. This plan is quick to put into effect and useful. Even though it won't be much, it might be the money that the people need to keep out of debt. However, even the best plans have faults. This money given out to American citizens are supposed to be spent, not saved in banks as many are doing with their unemployment relief checks. This relief money is supposed to be stimulating the economy by consumer spending, not consumer saving. Even though the interest rates in banks are close to 0%, people would still rather save up their money in case of troubles later than help the nation as a whole. Obviously, a person would think about themself first. Obama and his team realize that, but this plan will allow a person to cut down on their own debts. If they save enough, then they will spend, which will eventually stimulate the economy. Another problem is the cost. Obama's total stimulus package will cost over $800 billion (including education, energy, infrastruction, etc.). With a deficit that could go up to $1 trillion before this plan is implemented, it will be hard to decide whether the government can afford to use so much money to bolster the economy. Hopefully, Obama and his plans will bring America out of recession. America brought the world into recession- they must bring the world out. Your paycheck bonus from Obama is the first step for a better economy.

http://money.cnn.com/2008/12/30/news/economy/paycheck_stimulus/index.htm

Some Madoff "victims" profit

While many lose a large portion or even their life savings to Madoff's scandal, some actually have profited over the past few years. Over the past couple of years, many people have profited from depositing money, as Madoff's "investments" gave them 10-15% return each year. However, what they have "made" might be money stolen from other Madoff's clients. Now, they might need to give it back. One lawyer had a client who asked, "'I've taken out more money then I originally put in, but I still had $1 million left with Madoff. Should I file a $1 million claim?" The lawyer has told Yahoo! News that he was "hard-pressed to give advice in that situation."Jonathan Levitt, a New Jersey attorney who represents several former Madoff clients, said more than half of the victims who called his office looking for help have turned out to be people whose long-term profits exceeded their principal investment. One person called him had invested $1.8 million with Madoff about 10 years ago, then took out three million dollars profit as the years went by. However, that client still had around $4 million invested with Madoff. The client most likely would have to give up that claim of $4 million, as these investments were fake ones that were obviously not made.

Frankly, I am astounded by the audacity of Bernard Madoff. His Ponzi scheme has bankrupted hard-working people and destroyed charities. However, it is inevitable that some people profit from Madoff. He started his firm in 1960. That's plenty of time for investors to put in and take out money, right? The problem is, what happens to the money some investors gained? In 2005, when a hedge fund was revealed to be a Ponzi scheme, the winners of the situation were forced to give back the money they earned. However, this doesn't really seem fair, as these clients didn't know this was fake. If those clients didn't invest with Madoff, they might have had more capital to finance projects they wanted, such as constructing a new building in New York City. I am very split myself as to what to do with the winners, as they were also honest people who were scammed by this fraud.

As to what should be done to Bernard Madoff, he should probably just get the penalty as soon as possible. There is no way we can measure how many peoples' lives have been ruined. We cannot just count individual people, as countless charities that work for other peoples' well-being also have been scammed. His actions must affect the lives of tens of thousands around the world. Putting him to is the only sensible thing to do.


http://news.yahoo.com/s/ap/20090109/ap_on_bi_ge/madoff_false_profits

The future of airport security

Waiting long lines at security checkpoints in airports will soon become a thing of the past. Instead of having to go through the hassle of taking off your shoes, taking your laptops out of your bags, etc., airports will monitor, security officers will monitor a passenger's intentions and emotions. Several Israeli-based companies have developed systems that detect emotional strain. Using a combination of infra-red technologies, remote sensors, and flashing of subliminal images, it can detect a person's reaction to certain stimuli. For example, higher body temperatures, faster breathing, and a quickening heart rate can indicate a person is nervous or about to commit something he/she knows will have dire consequences. Another system can detect "stressed" voice patterns, which will prompt officers to question the "suspect" if he possesses these stressed voice patterns.

These new airport security features, to me, are astounding. These emotional and voice security checkpoints seems to be virtually unbeatable. I know that when I'm nervous, my hands become cold, I stammer, and my heart rate increases. A ist would definitely be nervous going through a security checkpoint, as he knows he will be committing an offence that might drag the world's most powerful nation to war. He will be worrying whether he will be able to properly carry out his plan, whether he is ready to die, whether he will be discovered by security officers. This type of airport security will definitely make air traveling safer than before.

http://www.cnn.com/2008/TECH/12/02/airport.security/index.html?iref=mpstoryview

Tories appeal to Canadians by radio while Green Party backs coalition

After the Liberals, the Bloc Quebecois, and the NDP formed a coalition that is designed to take over control of the government from the Conservatives, the Conservatives begin to fight back. They begin my rolling out radio appeals to the Canadian people that this coalition is an "un-Canadian" thing to do. "Last election, Stéphane Dion gave his word. He said his Liberals would never form a coalition with the NDP," the English-language Conservative radio spot says. "But now he's cut a deal with the NDP and he's working with separatists to make it happen. He even thinks he can take power without asking you, the voter." Other ads suggest that it is not right for a party to take control of the government without an election, even though Parliamentary rules allows it, ending with "This is Canada. Power must be earned, not taken." They also used a clip of Stephane Dion refusing to form a coalition, saying, "You cannot have a coalition with a party that has a platform that would be damaging for the economy, period."

I personally think this is just a waste of our taxpayer dollars. The election, by which the peoples' views were represented, costed about $300 million. Even though I support the Liberals, the majority of the people still like the Conservatives. Canada is a democratic nation, and as the Conservatives' messages say, "Power must be earned, not taken." The Conservatives also have some good points to nail the coalition on, such as Stephane Dion proclaiming that the NDP has a platform that damages Canada's economy. Another issue is that the Bloc Quebecois is one of the major parties. For years, they have wanted to separate Canada. Why should Quebec separatists run the country? Also, the Bloc is based almost solely in Quebec. This party does not think for Canada, it thinks for Quebec. We should not let these separatists ruin our great country. Therefore, I think the coalition should just give up and disband, as the third party, the NDP, is small enough that many people, myself included, don't care about.


http://www.theglobeandmail.com/servlet/story/RTGAM.20081202.wPOLcoalition1202/BNStory/politics/home

Big Three CEOs fly to Washington by private jet

Even with their companies in despair, Big Three CEOs still travel in style. Lawmakers are scolding the Big Three auto CEOs for flying to Washington, D.C. in private jets while asking for taxpayer money. Rep. Gary Ackerman, D-New York, states that there is "irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hands, saying they're going to trimming downa and streamlining their businesses." The CEOs of Ford, Chyrsler, and GM have all decided to fly their luxury private business jets to beg for taxpayer money to bail out their companies. Rep. Ackerman added, "At least they could jet-pool or something." Many lawmakers and citizens alike are angry that none of the companies have decided to fly commerical to their destination; the CEOs are still wasting their money on luxuries they cannot afford. The companies did not disclose how much the jets and their operation costs. However, they defended their statements by stating that "company policy requires CEOs to travel in private jets for safety reasons." An analyst has estimated that a round trip between Detroit and Washington, D.C. would cost around $20,000. Many shareholders felt that this is money wasted on luxury when the company cannot afford to do so.

Personally, this is a huge waste of money when the Big Three are desperately short of money. $20,000, while not a huge sum in their budget, is still a lump of money that could be better utilized. Even if the CEOs flew first-class, their flight fee alone would be reduced by at least $15,000. When taxpayers see that their money being wasted on expensive private jets, they are bound to oppose a bailout. The Big Three's defence was that it was company policy for CEOs to take private jets for the safety reasons. However, taxpayers would feel differently than the CEOs or the companies about this policy. They are paying $20,000 for what could be a $500 trip. They waste $20,000 to beg for taxpayer money. I believe that the bailout shouldn't be granted, as more than $10 million will probably be wasted, such as the travel of this jet. That is why this is a stupid decision. It definitely will affect the outcome of the $25 billion bailout.

http://www.cnn.com/2008/US/11/19/autos.ceo.jets/index.html?iref=mpstoryview

Unemployment reaches 16 year high

The US Department of Labor has reported that the number of people filing for unemployment benefits has risen by 27,000 for the week that ended on Nov. 15, for a total of 542,000. This is the third time since 1992 that claims has risen above 500,000. The claims are the highest since July 25, 1992, when the number of unemployed seeking benefits totaled 564,000 people. The Senate approved a bill to extend benefits to the unemployed. This includes a seven-week extension in most states and an additional 13-weeks in states with a 6% or higher unemployment rate. Most states only offer unemployment benefits for 26 weeks. President Bush, who threatened to veto the bill earlier, now agreed to sign it. Economists say that this recession is worse the employment rate is worse than the previous recessions for 1991 and 2000. The number of people that are collecting benefits for at least a week has soared by 109,000 to 4,012,000 for the week ending Nov. 8. The last time unemployment has been this high was in 1982. Jobs have been cut for months. The Dept. of Labor reported 240,000 jobs were lost in October, which made the total number of jobs lost in 2008 to 1.2 million. The unemployment rate has risen to 6.5%, a 14-year high.

I don't think enough is being done to stimulate the economy. This will probably come right after the Great Depression in a list of bad recessions. In the 1930s, Roosevelt created many jobs with government sponsored projects, such as building highways, parks, and the such. Something similar should be done now. Jobs rates will only continue to rise throughout this recession. The government needs to step up and help its people. Jobs cannot create themselves, someone has to go make them. In this time of need, where most corporations and small businesses are cutting back by cutting jobs, only the government has the resources to create new jobs.

http://money.cnn.com/2008/11/20/news/economy/jobless_claims/index.htm?postversion=2008112008

New driving restrictions for teens in Ontario

Today, the Ontario government is introducing new legislation that puts new restrictions on young drivers. They would face restrictions for up to three years, up from the previous two. The new measures are aimed at reducing the toll between new, young drivers, including measures such as zero tolerance for speeding, drinking and driving, and a limit of one teenage passenger. Members of the driver's family are exempt, so a brother can bring drive his siblings to school. The probation period for G1 drivers have pushed by six months to a total of 18 months, must be accompanied by drivers with over four years of driving experience, and can't drive on the 400-series highways, the Gardiner, the Don Valley Parkway, and the like. G2 drivers also face 18-month probation, but the restriction on one passenger may end after 12 months. Opposition MPs applauded the content, but questioned the need for the passenger limitation.

Personally, as a teen, I think this is unfair. Many people like me do not drink. The actions of these few teens should not affect the majority. There are many stupid ideas in this law, such as the prohibition of driving on the highway and the one-teen passenger restriction. Many teens drive their friends nearby to the movies, other friends' houses, and to and from school. They often pay their friends a little money, enough so they can pay the fuel but still cheaper than public transport. I believe that this only causes inconvenience to teens, not help.

http://www.thestar.com/news/ontario/article/538684

Parents dump teenagers at Nebraska Hospital

Nebraskan officials are concerned about parents dumping their kids in their hospitals a day before the state changes its "safe haven" law. The safe haven law was supposed to protect infants. However, many of the children put into the state's custody are seldom infants; rather, many parents across the country to put the state in charge of the 5 day old to 17 year old kids. The most recent "dumping incident" occurred when a mother flew in two teenagers, a aged 17 and a boy aged 14, to turn them over at a hospital in Omaha. This prompted the Nebraska governor to plea for parents to keep their kids."Please don't bring your teenager to Nebraska," Gov. Dave Heineman said. "Think of what you are saying. You are saying you no longer support them. You no longer love them." The safe haven law was meant for parents to drop their infants without being prosecuted. However, not one have been an infant. People also bring in their kids from outside states so they would not be prosecuted.

This is a story that I find very sad and frightening. If a parents decides to leave their kids, if the child is still an infant, at least he won't feel the sadness and think no one loves him. However, being teenagers, many adolescents may fall into depression or even , as they realize that their parents do not want them anymore. It makes me scared because I realize how lucky I am to not be handed over to the government. It would probably make me feel as if no one in the world cares if I exist. I also feel anger, anger that parents abuse a loophole in the law. This law was meant to help, not destroy, children's lives. I am glad that the Nebraska legislature will push for a age limit below one month. I hope the law is changed quickly enough so that no parent can drop older children to the state government again.

http://www.cnn.com/2008/US/11/14/nebraska.safe.haven/index.html?iref=mpstoryview

Way of living for an Afghan

Banafsha and her family lives in Kabul, Afghanistan. She wakes up everyday to a cup of tea, then walks out into the lonely, dangerous world to beg for food for herself and her family. After walking a long distance away from their mud shack, she goes into the richer parts of the Afghan capital in the hope of being able to bring food back to her family. She is not bitter, as she knows that without her begging neither her or the rest of her could survive. Her father is a addict, while her mother must take care of her younger siblings. She dreams of becoming a teacher, so she could help educate her fellow Afghans and bring themselves out of poverty. For three hours a day, she could actually dream. Aschiana, an Afghan non-government organization, provides a place for children like Banafsha to rest, a little recreation, and a glimmer of hope. However, her reprieve may soon disappear. Aschiana was forced to close down four of its eight centers, catering over 7,000 children in Afghanistan, because a promised major source of founding's money did not arrive. Three of the four remaining centers have stopped providing food because they could not afford to. After her rest at one of these centers, Banafsha returns to the streets, begging, pleading, and silently crying. When she walks home, she usually has some bread in her sack and 50 cents. At night, she helps her mother watch the siblings, and her father is focused on getting his next dose of . At last, she can sleep, only to wake up the next morning and repeat it again.

I found this story very moving. Many people in Western civilization do not realize the extreme poverty in Afghanistan and the rest of the world. Much of Asia, the Middle East, and Africa live below the poverty line. People like us don't usually care enough about these children and their families to donate any money at all. Many don't know the hardships that these little children face everyday just to eat a little piece of food, less food than we leave after each meal in the garbage or as leftovers. This only demostrates a "richer" part of the life below the poverty line across the globe. In countries African countries such as Zimbabwe, people aren't able to access water in over 40 degrees weather. In places like northern China, many families can't afford to buy coats in a -40 + degrees weather. People of the world need to wake up and help their fellow humans. We often distinguish ourselves as citizens of a country, such as Canadians or Americans. It is time for us to think of ourselves as citizens of the world, and we need to help our fellow citizens in need.

http://www.cnn.com/2008/WORLD/asiapcf/11/14/afghanistan.child.beggar/index.html?iref=mpstoryview

Iranian nuclear workers arrested for spying

Several Iranian nuclear power plant workers were recently arrested for giving away their nation's nuclear secrets to foreign nations, according to the Iranian media. They did not give away how many Iranians have been arrested, or which countries were involved. The Tabnak were responsible for discovering this crisis. They were linked to a former commander of Iran's Islamic Revolutionary Guards Corps. Iran still insists that its nuclear program is for peaceful purposes, while the Western nations are unsure if this is the truth. The IRGC commander has told the media that the arrested members include spies from the Israeli military who report back to Israel on Iran's nuclear and military centers.

I think Iran isn't developing nuclear weapons for peaceful purposes. If they were, why the tight security? Why the refusal to meet Western demands to inspect their nuclear power plants? The world does not need nuclear weapons anymore. Russia and the United States are both working on nuclear disarmament. Wouldn't it be disastrous for the disarmament effort if another nation suddenly possessed a weapon to threaten its foes with? In regard to these nuclear workers, I think they might be a ruse to draw out the true spies in its workforce. Iran may have a tip about spies in their nuclear facilities, and "arrested" these people as a result. Many spies would probably be scared, and turn themselves in in hope of getting off with a lighter punishment. I hope Iran will eventually halt its nuclear program. It would be best if, in the future, nuclear weapons would be forgotten altogether.

http://www.cnn.com/2008/WORLD/meast/12/10/iran.spy.arrests/index.html

Stimulus can save over 4 million jobs

President-elect Obama has stated that between 3-4 million US jobs could be saved or created by 2010 by his stimulus plan. The analysis was submitted by Obama's chair of economical advisor and Vice-presidential elect Joe Biden's chief economical advisor. The number of possibly saved or new jobs was revised from 3 million to between 3-4 million. Obama announced these revisions over his weekly radio and Internet announcements."The jobs we create will be in businesses large and small across a wide range of industries," Obama said. "And they'll be the kind of jobs that don't just put people to work in the short term, but position our economy to lead the world in the long-term." His statements came after a report that more than 500,000 US jobs were slashed in December. This brought the total number of lost jobs in 2008 to 2.6 million, a number unreached since 1945. Obama said his plan would create nearly 500,000 jobs by investing in clean energy, by committing to double the production of alternative energy in the next three years and by improving the energy efficiency of 2 million American homes.

I think this stimulus plan is great. As America is an extremely important part of the global economy, Obama's stimulus plan will not only save and create American jobs, they will preserve other jobs around the world as well. Such plans could take the global economy to new levels, which will probably raise the living standards across the globe. More jobs means more wealth for everyone, as for every white collar job created, four new blue collar jobs will be created around the world. I hope this stimulus will work as well as Obama plans, because I think if it doesn't, the recession will longer and a depression might ensue.t

http://money.cnn.com/2009/01/10/news/obama_jobs.reut/index.htm

Sen. Obama's victory

On Nov. 4th, 2008, history has been made. The 44th President of the United States, Barack Obama, will become the nation's first African-American president. This presidential race featured junior Sen. Obama of Illinois vs. Sen. John McCain of Arizona. At the beginning of this election, both John McCain and Barack Obama were underdogs, below other prominent Democratic and Republicans such as Sen. Hilary Clinton of the Democrats and Mitt Romney and Rudy Juliani (NYC mayor during 9/11). Sen. McCain easily triumphed over his opponents in the Republican Party, with the only real opponent as Mike Huckabee. However, Sen. Obama had to fight his way through a series of tough primaries, becoming the official Democratic nominee at the Democratic National Convention in Denver, Colorado. After winning the primaries, Sen. Obama fought a long, hard battle with Sen. McCain. He earned the 54% of the popular vote and won a massive landslide in the electoral college. Sen. Obama will be inaugurated as the 44th President of the United States on January 20, 2009. He had ended his campaign road on the doorstep to the victory, becoming the first African-American to become the President of the United States.
I think this is a huge victory for African-Americans and the majority for Americans. It shows that they also dserve the equality promised to every American citizen. African-Africans have always been mistreated throughout American history, starting as the Declaration of Independence was written to the slavery crisis throughout the 19th century to the civil rights movement in the 1960s. Africans-Americans have been mistreated throughout American history, and now they have proven that they are equal to whites. Now, they have won the rights they have tried to earn for centuries.
I personally believe that electing Obama is good for the US economy. As Sen. McCain stated himself, he does not really know how to work with the economy, as his main point was national security. However, the basis of national security is so simple even a 8th-grader cna work through this- ists are angry that the US has bases around the world, especially Muslim nations, and wants the US to pull back out. Being the world's most prominent superpower, the US is unlikely to do so, but it seems pretty simple to me for the US to negotiate better terms with the Islamic extremists. The US has lost much of it's "good neighbor" image around the world, most notably in Latin America, Europe, and Asia. It is smart for Obama to talk about pulling out of Iraq as soon as possible; this reflects the popular opinion and what many world leaders would like. Many foreign heads of state has stated that they are happy that Obama, not John McCain, who to them is a warmonger similiar to George Bush, won the election. I hope Americans have chose a right president.

http://www.cnn.com/2008/POLITICS/11/04/election.president/index.html

Tainted chocolate in Oshawa and Niagara Falls

Tainted chocolate has once again been found in Canada, this time near Oshawa and Niagara Falls. This was discovered just days after inspectors removed 640 pieces of candy from five stores in Toronto. The public alerted federal inspectors that the recalled candy was still being sold in two stores. However, when the officials arrived, the candy was already sold. Salmonella, a bacteria that can cause nausea, vomiting, abdominal pain, other flu-like symptoms, and , was discovered in soy lecithin, an ingredient in making candy in Canada.

I think this is extremely irresponsible on the parts of both the candy stores and federal inspectors. How come they did not find this before? As inspectors, it is their job to find these pieces of tainted candies before they come in contact with the public. My only conclusion is that they have been slacking off. Candy stores also should have people that watch over a finished cargo, so they would know whether the candy is safe or not. I hope this will never again, as it would be a great tragedy for children to die when all they wanted to do was enjoy a piece of candy.

http://www.thestar.com/news/gta/article/529167

Uncertain furture for Ted Rogers' company

Even though he had suffered many health problems, many investors and employees found it difficult to imagine a business without their founder, Ted Rogers. However, that day has become today, with Rogers passing away at the age of 75 due to heart problems. In late October, he stepped down from the position, with Alan Horn as the interim chief executive. The company has said that they will look for a new CEO, and will consider internal and external candidates. However, many analysts believe that the new CEO will come from the company's office of the president, including the CFO and the COO of communications. Rogers itself has already stated that the position would most likely go to an insider. Ted Rogers has continuously stressed the fact that he wanted to see one of his own children become the CEO one day.

Ted Rogers was a remarkable man, building a company whose cell phone service is better than its competitors combined. Rogers also offers high-speed internet and a good TV service. I know this sounds like a Rogers commercial, but to be honest, Rogers is consistently better in all areas of communications I use than services like Bell or Telus. I think the future for Rogers is certain, that it will continue to succeed as it is already. This is similar to an Apple-Steve Jobs issue. No matter who will be the CEO, as long as the company turns out great products, it will continue to succeed.

http://www.thestar.com/business/article/547008

Another province back in Iraqi hands

Today, Thursday, October 23, 2008, another province has formally been returned back to control from coalition command to Iraqi local security control. Babil, in central Iraq, is the 12th out of 18th province that the coalition handed security control back to the hands of the Iraqis. It is also where the ancient city of Babylon is located. Each Iraqi province handed back to the local security force means that progress is being made. This also means peace is progressing, and it is best for both parties, Taliban and American, that less killing will occur. Everyone in the world wants less killing to occur, but the Taliban and the Americans will not stop killing each other until one is defeated. American troops will still assist the Iraqi security force "as needed", but the main job will be given to the Iraqis. Violence has decreased overall in Iraq, which means progress is being made.

I think the US will need to defeat the Taliban militarily to truely win the war in Iraq. Many people thought that the reason Germany fought world wars I and II was that the German people did not truely know the horrors of war, as most battles were fought on French, Italian, and Austrian soil. Many military experts think Germans believed that they could still win because their country had never been in devastation, as the others did. Therefore, when they saw the devastation after WWII, they have never waged open war again. Now, I'm not saying that the US should Iraq into ruins, but I think that if the Taliban faces the US long enough, they will realize that this war will do them no good. I don't think any of the Taliban or Al-Qaeda's goals will be realized just by forcing the US out of Iraq. However, with growing stability in Iraq, the war may be coming to a finish. We all hope that way.

http://www.cnn.com/2008/WORLD/meast/10/23/iraq.attack/index.html

Oracle of Omaha buying stocks

Warren Buffet, also known as the Oracle of Omaha, is one of the, if not the best, best investors in the world. He has been able to hold through many economic recessions, and is right now one of the world's richest men. With the economy in a recession, and stocks heading for all-time lows, Warren Buffet is starting to buy U.S. stocks again. Earlier, the only American investments he held were treasury bonds. Because stock prices are falling, Buffet has converted almost all of his portfolio to US stocks. He says, "Be fearful when others are greedy, and be greedy when others are fearful." He also states that the worst may not be over for the economy. Many investors, even the most-seasoned veterans, are cashing in their stocks, taking the hit and not risking much more money. However, bad news can also be good news. As Buffet says, "Bad news are an investor's best friend. It lets you buy a share of America's future at a marked-down price.

Even though this concerns the American economy, Canadians may also benefit. The Canadian economy, though severely hit, as not been hit as hard as the Americans had, and Canadians can better afford to buy a portion of the US economy. Even though people can't afford to invest into the stock market like Warren Buffet, they can still put some money into the stock market as it continues falling. Buffet is right- the best news for investors occur during stock falls. This allows investors to buy when stocks are close to worthless, and wait for the market to turn back up again.

http://money.cnn.com/2008/10/17/news/economy/buffett_op_ed/index.htm?postversion=2008101709

Senior Al-Qaeda chief killed in Iraq

The US military announced that one of Al-Qaeda's senior "charismatic" leader has recently been killed by coalition forces in Northern Iraq. Abu Qaswarah, also known as Abu Sara, was killed on October 5 during an operation in Mosul. The Moroccan citizen was Al-Qaeda's second in command. He had "historic ties" to Al-Qaeda's former senior leaders, and therefore had been the target of October. He was discribed by the US military as a "charismatic leader that rallied the ists in Iraq" after major setbacks to the entire ist organizaiton. The US military also credits former Sunni insurgents that have turned against Al-Qaeda, because the "Sons of Iraq" has helped stablize regions in Iraq.

I think that the progress is finally being achieved in Iraq. Even though Al-Qaeda still has influence over a large part of Iraqis around the country, their power is waning. I personally believe that Al-Qaeda cannot fight a long-term war with the United States. Only one force, the North Vietnamese, has done so, and that was because of the jungles and their expertise at gureilla warfare. In the desert, a person cannot hide very well. However, I think that peaceful negotiations could also help to the ending of the war. When Al-Qaeda and the US is ready to go to the negotiation tables, we can be sure that the war will almost be over.

http://www.cnn.com/2008/WORLD/meast/10/15/iraq.alqaeda.leader/index.html

McCain campaign interfering in Palin probe

Senator John McCain is accused of interfering with a probe on his vice-presidential nominee, Alaska Governor Sarah Palin by helping witnesses refuse to comply with subpoenas. Governor Palin was accused of firing her public safety commissioner because of personal issues. Ex-commissioner Walt Monegan said he himself was given the pink slip because he refused to fire Palin's ex-brother-in-law, who divorced Palin's sister. This is not allowed by law at any employment position, because personal and business matters are supposed to be kept separate. Palin states that Monegan was fired for insubordination, but Monegan rebuts that he had been a "team player" the whole time. The McCain campaign has been allegedly trying to prevent the probe ever since Palin's nomination. Lawyers for the two Senators say Sen. McCain has been "moving on many fronts" to stop the investigation. Before her nomination, Gov. Palin agreed to the investigation, but has now been trying to get the Alaskan State Personnel Board to investigate. Many members have refused to appear in court, Palin's husband among them. The Republican Vice-Presidential nominee's lawyer declared that the state law restricted federal investigations in internal state affairs. However, if McCain is elected, then Palin becomes the Vice-president, which is a federal position. Therefore, many people are refusing to appear in court, because they think a federal committee should not investigate a state issue. This is illegal, but only the full Senate has the power to vote sanctions on this power, which does not meet again until January. Therefore, McCain would be clear of a scandal before the election.

Personally, I think Sarah Palin is guilty, even without any evidence. If she has no skeletons in her closet, then the people ordered to testify would not skip the trials, because they know that Palin is innocent. The fact that Palin and McCain is trying to get someone, who might be biased towards them, to investigate this matter instead shows that they are trying to hide something. This is just dirty politics. In my opinion, a person that is not ready to lead a country if that person doesn't admit his or her mistakes. A dishonest leader will not be trusted by the people he/she rules over. Honesty is definitely a qualification to be the President/Vice-President of the US. If Palin does not have this qualification, and McCain acknowledges that, then the Republican team definitely is not ready to lead America.

http://www.cnn.com/2008/POLITICS/09/25/palin.probe/index.html

Bailout collapses, McCain loses support in the wake

On Sept. 30, 2008, a $700 billion bailout plan designed to help the US economy was shot down by the House of Representatives. This failure held back billions from Wall Street and deeply hurt Sen. McCain's presidential campaign campaign, lowering his approval rating, from 48% to 46%, while Obama gained from 48% to 51%. McCain suspended his presidential campaign for a week to try passing the bailout bill in the House of Representatives. This was a big gamble, because if the bill was passed, then McCain gets the credit for helping the economy recover. However, it failed. Even before the failed vote, people blamed Republicans more than Democrats for the ailing economy. After the failed vote, both supporters and opponents of the bailout became his enemies. The head Republican in the House, Rep. John Boehner of Ohio, stated "Sen. McCain was actively involved in lobbying Republican House members Sunday to line up behind the bailout. I'm grateful for his support." However, the vote against the bill was 2:1, with his own Republicans opposing his bill (133 of them). McCain blamed Obama for the failed bill, stating Obama "infused unnecessary partisanship" into the talks. However, this did not help McCain in the end. His ratings lowered after the failed bill, and Obama is starting to have larger and larger gains in polls. His support for this bill may eventually cost him the election in November.

I personally 100% disagree with this bill. The government is basically using taxpayer money to fund private businesses. Some of these taxpayers were cheated of their money BY these corporations, because of hidden clauses on mortgage contracts, borrowing money, and more. Why should people that already have their money cheated once help the cheaters stay alive? Many of the big banks that are the focus of the bailout caused the sub-prime mortgage crisis. This means that even if people didn't have money, the bank still allowed people to borrow money from them, because the borrowers will not pay them back on time. This allows the bank to charge extra interest, and therefore make more money. The problem is, the longer the borrowers are in debt, the less able are they able to pay it back. Therefore, when most of the bank's money has been lent out, not much is coming back in. This led to foreclosures, in which started the domino effect in weakening the American economy. As one can see, it is the bank's fault for letting people that obviously can't pay back a loan borrow money. McCain, as a Republican, is mostly allied with the big banks and business that caused the recession to start in the first place. I think Obama would be better to be president, because he, as a Democrat, cares more about the middle to lower class more than the average Republican. I think it is a good thing that this bill was rejected. Americans shouldn't help the people that hurt them in the first place.

http://www.cnn.com/2008/POLITICS/09/30/bailout.candidates/index.html?iref=mpstoryviewd

Big financial institutions fall in the wake of the American recession

Lehman Brothers, the fourth-largest investment bank in America, has filed for Chapter 11 bankruptcy protection. Another major American investment bank, Merrill Lynch, has been sold to Bank of America. AIG, American Investment Group, also announced a reorganization of the company today. This followed a series of financial giants that crashed. First was the Bear Stearns buyout in March. The US Federal Reserve helped J.P. Morgan Chase bailout Bear Stearns, but not before its stocks fell well over 80%. Next was the buy-out of mortgage giants Freddie and Fannie Mac, whose stocks dropped over 90% before the Federal Reserve stepped in. The Federal Reserve acknowledged that without these giants, the economy would probably collapse. Therefore, they would be ran by the government until they became stronger, and more likely to hold off the loss of capital on their own. Now, Lehman Brothers and Merrill Lynch, with the former established for 168 years and the latter established for 94 years, will be gone along with the other giants. All of these companies have been in business for at least 30 years. Lehman Brothers' stock fell by more than 95% to 19 cents a share before it announced bankruptcy, because it couldn't find a buyer. Merrill Lynch stock soared by eight dollars, while Bank of America's, the buyer, fell 15% to $28.29. AIG's stock fell by 55% in After these new changes have been announced, the Dow fell by 2.5%. However, these changes don't only affect the US. Many Asian markets were closed, but India's Sensex fell 5.4%, Taiwan's fell by 4.1%, Singapore's down by 2.9%, and Australia's by 2%. The European economy was also hit hard by the news of the falling of the financial giants. The FTSE in London fell immediately by 2.8% while the Paris CAC fell by 3.5%. Asian markets are also expected to decline. These strength of the wake was also felt in Canada. The TSX, Toronto Stock Exchange, fell by nearly 5%. No one knows what to expect after this, because, in the words of Art Hogan, chief strategist for Jefferies and Co., "We've never witnessed this before."

Personally, I think the US government should also bail out Lehman Brothers. It looked to Bank of America and the British Bank Barclays for a buyer, but Bank of America instead acquired Merrill Lynch while the British bank pulled out of talks. However, one must also remember that Lehman Brothers caused this troubles on this themselves. They are going bankrupt because they let people who couldn't afford mortgages have them, which is completely irresponsible. They have no one but themselves to blame. If it wasn't for their irresponsible practices, then there is no doubt that America would be much better off than it is today.
Buying Merrill Lynch was a good move for Bank of America. By buying Merrill Lynch, they were able to become the largest brokerage in the world, with more than 20,000 advisors and more than $2.5 trillion US in assets. This will put them into a good position when the US economy becomes strong again. Again, however, we must realize that Merrill Lynch got themselves into this mess. Lehman Brothers was not the only bank that lent money to people that couldn't afford to pay it back - most banks did. Because of their dishonest practices, they went bankrupt, like any other company would. However, in this case, I think Bank of America benefited from this buyout, because, as previously stated, they were in a position to become a leader the financial industry once the economy recovers. We will have to wait and see what happens after these deals, and if Lehman Brothers will actually gets bailed out.

http://www.networkworld.com/news/2008/091508-wall-street-shakeup.html?fsrc=netflash-rss

Hurricane Ike will move to the Gulf of Mexico, but not after hitting Cuba twice

Hurricane Ike has now hit Cuba twice. The second hit came on today. It is barely a category 1 hurricane, but because it has now moved over waters again, it will pick up strength. Cuba has been hard hit during this hurricane season, with the most publicized ones being Gustav and Ike. The US economy, already in a recession, can decline even more if gas prices rise again. Hurricane Ike has caused at least five deaths in Cuba, and 73 deaths in Haiti. When it hits the Mexican or American coasts, it is expected to be at least a Category 3 storm, similar to Hurricane Gustav after it hit the coast of Louisiana. It is expected to cause millions, if not billions (in US dollars), of damage. The landing zone of Ike is unknown, but is expected to hit Texas. Because the route is unknown, there is no guarantee that the oil rigs in the Gulf of Mexico will be safe.
Hurricanes have a major effect on gas prices. Whenever a hurricane moves closer to the oil-rich Gulf of Mexico, gas prices start to rise. Whenever an oil-rich region is threatened, no matter if it's by human or natural actions, gas prices peak. Because the route of Hurricane Ike is still not determined, gasoline prices rise. This is because the oil companies are scared of a short supply of oil. Due to the economic rule of supply and demand, this will always happen. Canadians might feel their wallets getting smaller if the gas prices rise again. In August, gas rose to nearly $1.40/L in the GTA.

I think that Hurricane Ike can have a major effect on the Canadian economy. If it hits the worst places, then gas will suddenly rise again. Hurricane Ike can make the lives of many working Canadians harder. During the height of the oil crisis, people had to choose between either gasoline or fuel. If Hurricane Ike severely damages the oil facilities in the Gulf of Mexico, then people might have to face this decision again. We just have to wait and hope that Hurricane Ike misses the vital oil facilities. Otherwise, Canadians might face a time of hardship again.

http://edition.cnn.com/2008/US/weather/09/09/hurricane.ike/?iref=mpstoryview

Air Canada's Jazz takes out life jackets

On August 23, 2008, Air Canada decided on a new initiative to save fuel and operating costs - by taking out the life jackets off their airplanes, including planes that fly over water. Because of rising fuel prices, with most airline companies in the Americas operating at a net loss of millions of dollars, airlines have been desperate to save any amount of money possible. Canadian law allows airlines to just carry flotation devices as long as they are operating within 50 nautical miles of land. Jazz has altered some routes along the east coast to meet this requirement. This occurred at the height of the oil crisis, when oil was near its record price of $147.47 USD per barrel. By ditching the life jackets and using just the flotation devices, airlines lighten their planes by about 500 grams each, and therefore save operating costs. This is the latest effort to make up for the then-rising fuel costs, which had doubled. Other attempts at reducing costs include a surcharge for meals, baggage, and pillows.
This decision has been critized by many experts. The little amount of weight of each life jacket barely saves the airlines any fuel at all. Also, the function of the life jacket and the flotation cushion is different. The life jacket keeps a person's head above water, preventing them from drowning. Since it is worn on the body, it keeps the person's head above water without any further support. However, a person has to hold on to the flotation device to stay above water. It is very difficult to hold onto a device if the water is very cold. The person can't hang on for very long until their fingers and arms will not respond. Tom Hinton, a former director on Canada's Transportation Safety Board, states that the cushion takes too long to remove from the seat. This will shorten the time a person has to get out of a falling plane. Because the passengers only have a few minutes to get out, it lessens their chance of survival. In short, this decision is a dangerous hazard to the safety of passengers.

I personally believe that this is a stupid decision. The priority of any airline is its passengers' safety, not to save money. If an airplane's engine fails and the plane crashes into water, it is very possible that many passengers will perish, especially if it is during winter, due to hypothermia. Even though a person would get exposed to the cold waters with a life jacket, the life jacket should, in theory, conserve a little bit of body heat. It can be the t This should be an ethical, not a business decision. Also, they can not possibly save much from this decision. If the passengers are killed due to their hands falling out of the cushions' straps, then the passengers' families will sue. The money the airlines lose will be much more than the money saved from using the flotation devices. Money for the airlines, as well as the lives of the passengers, is lost. In the end, no one wins. I think the life jackets should be put back onto the planes now, because fuel has fell so much now. It is also the smart, sensible, and safe thing to do. A company should do its best to ensure the safety of its customers. That's why I believe that taking out the life jackets is a stupid idea, and Jazz should put them back as soon as possible.

http://www.thestar.com/article/484113