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If you think Bush caused our economic crisis then have you read this article put out by the New York Time article?
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
Published: September 30, 1999
In a move that could help increase home ownership rates among minorities and low-income consumers, theFannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.
''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''
Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescuesimilar to that of the savings and loan industry in the 1980's.
''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''
Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.
Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.
Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.
Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University 's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.
In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.
Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.
In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.
The change in policy also comes at the same time that HUD is investigating allegations of racial disc
I don't want work with nonprofits or as a paralegal anymore. What career am I best suited for with my current education and work experience? And, how do I pursue a career in the industry you recommend?
I'm interested in government/politics, journalism, lobbying, higher education, research, advertising, and music. I'd like a job with growth potential in an large organization with good management infrastructure (no more small companies or operations).
This is my truncated resume:
Director of Programs—Chamber of Commerce
Develop and coordinate programs to support and improve local business. Design and draft marketing materials to publicize Chamber programs using MS Publisher, Constant Contact, and Adobe Contribute. Foster partnerships with schools, government officials, businesses, and community organizations to attain the specified goals related to each program.
Legal Coordinator—The Willett Law Firm, P.A.
Developed an action plan with the NC State Bar to wind-down John G. McCormick’s law practice. Assisted clients with filing grievances with the NC State Bar and finding alternate legal counsel.
Legal Assistant/Paralegal—John G. McCormick, P.A.
Organized and managed the firm’s accounts payable and receivable using QuickBooks and Timeshlips software. Assisted personal representatives with estate planning and settlement. Performed title and lien searches and helped to prepare closing packages for real estate transactions.
High School Social Studies Teacher
Taught Economic, Legal & Political Systems, which is an overview of stock market investing and micro- and macroeconomics concepts, civics, law, and a comparative study of historical and modern political and economic systems in foreign countries.
Y2K Readiness Project Administrator –Quintiles, Inc.
Communicated with project managers to track compliance and contingency planning. Managed and tracked project data using MS Excel.
Legal Assistant–Rucci, Burnham, Carta & Edelberg, L.L.P.,
Helped defense prepare for a criminal trial in Puerto Rico discovery for a client charged with violating Savings and Loans regulations.
Employee Assistance Program Intern–United States Tobacco Co.
Education:
Juris Doctorate, Campbell University Norman A. Wiggins School of Law, Two years completed
Summer Program, Handong International Law School, South Korea
Master of Arts in Teaching, Univ. of North Carolina, Chapel Hill, NC
Bachelor of Science in History, Appalachian State Univ., Boone, NC
NC State Bar Certified Paralegal
Relevant Coursework:
History of the World Since 1945
Germany Since 1917
U.S. Foreign Policy
U.S. Intellectual Tradition
Constitutional Law
Islamic History
Asian History
Latin American History
Latin American Politics
American and National Government
Political Parties and PACs
Law & Ethics of Communications
Theory & Practice of Persuasion
History of American Public Education
Microeconomic Theory
Race, Poverty & Politics
Globalization
Comparative Law & Culture (U.S. v. Asian Traditions)
International Business Transactions
Constitutional Law
Entertainment Law
Education Law
Contracts
Torts
Civil & Criminal Procedure
Criminal Law
The bounce in the stock market, although I personally think it won't hold, is because Asian and European markets have poured a ton of money into the global market, giving Wall Street and people a bit more confidence. NOT because of anything wonderful our government has done (in spite of what the Bushmeister says), and certainly not because of anything Mccain, or Obama has done.
Everyone is so excited that things are looking up and giving credit to Bush, McCain, etc. They have absolutely nothing to do with it. Proof being that the 700 billion dollar bail out authorized by Bush did nothing to help. If anything Wall Street still continued to crash. Maybe the 700 billion just wasn't enough to fill all the rich boys pockets. We owe what's happening to our other world leaders. I doubt this will stick for very long anyway, but give credit, where credit is do.
Does this suggest the EU are better prepared and united to deal with the crisis? Britain has just pumped another 37billion into the banking crisis and has already seen a 4-5% increase in the stock market. All around the EU the stocks have increased, Frankfurt has seen an increase of almost 7%. But what does this all mean? Should the US and Asia be worried about Europe's plans?
Russia is so mad they have to close there stock exchange everyday due to panic selling , 20 percent drops each day, oil down to 77$ a barrel. russia is dieing right now , putin is so mad, the whole world is blaming America for the collapse of European and Asian markets.
do you agree Bush destroying the worlds economy is a good thing because russia is collapsing ?
Asia faces 'rough ride,'
Singapore's leader says
By ALEX KENNEDY,Associated Press Writer AP -
SINGAPORE - Asian economies face a "rough ride" for at least the next year as weakening consumer demand from developed countries hurt the region's exports, Singapore Prime Minister Lee Hsien Loong said Friday.
"The world is caught up in a financial storm, and dark clouds fill our immediate horizon," Lee said in a speech in Singapore. "The fear and panic gripping financial markets everywhere will take time to subside."
Asian stock indexes have plummeted this week along with their counterparts in the U.S. and Europe on fears turmoil in the financial system will spark a global recession. Japan's benchmark Nikkei 225 index tumbled as much as 11 percent Friday while Hong Kong's Hang Seng index was down more than 7 percent.
"Asian countries cannot avoid the impact of weakening U.S., European and Japanese economies," Lee said "We must prepare for a rough ride at least over the next year, and quite possibly longer."
"The crisis in the financial system will dampen consumption and investment in the developed countries and affect growth all over the world," he said.
Singapore's economy, which relies heavily on exports, contracted 0.5 percent in the third quarter, the government said Friday. The government also said it cut its 2008 forecast for economic growth to 3 percent from between 4 percent and 5 percent.
The central bank, known as the Monetary Authority of Singapore, said in a statement Friday it shifted it's foreign exchange policy to a "zero percent appreciation" of the Singapore dollar from a "modest and gradual appreciation" in a bid to boost the competitiveness of the country's exports.
Lee's comments contrast with the more upbeat outlook offered by Asian Development Bank Haruhiko Kuroda on Thursday, when he said Asia's financial system appears to be little affected by the U.S. sub-prime mortgage problems and that Asia overall will enjoy robust growth.
"The impact on the financial sector in Asia is limited this time," ADB President Haruhiko Kuroda told a news conference in Tokyo Thursday. "We expect a fairly robust growth to continue, although we expect the growth rate would be smaller."
So Dow plunged under 8,600 for the first time in five years. Even though stocks have been dropping in the past few days, today stunned me.
I also see that the Asian market is on the verge of failing as well.
Could our economy get any worse? I'm growing seriously concerned that we may enter a Great Depression II.
i hope the nasdaq drops 400 points tomorrow and the dow goes off 1000
i bought qid at $37.50
i get to watch the excitment on tv,
i knew this was coming, its staged to bring about the amero.
what fun times it is to watch on tv
asian markets are plunging again on wednesday
Do you agree with my timeline of USA progress?
1945-2000: The USA leads the global economy by overwhelming proportions (backed by international support(
2000: Rightwing spokepeople in Bush's cabinet endorse a policy of "Throw the UN building into the Atlantic, Destroy it!" ("UN ambassadors worldwide respond "We can't conceive of a UN without the United States!")
2000-2007: The USA still has been a top leader but with other countries catching up in Asian markets and European Union booming.
2003: The US defies NATO and the UN, and spends half a trillion on a War that seems unwinnable.
2004: (forget the real estate bubble, that's just funny money).
2007: US Fiscal policy can no longer save US economy, even with record low interest rates.
2008: The USA market plunges in Financial Crisis and global markets go down with the USA (While the globe's last thread of trust in the US collapsing.) Oil prices the first sign that the US is going down on its OWN.
2009 Prediction: Europe, Asia, even Canada, will reassess its foreign investments in an unrepairable US economy and increase investments in Asian markets, Japan, China, Germany, UAE
2010: US Economy plateaus. Sustained Depression.
Rest of the world: Slow recovery
2011: EU GDP surpasses the United States and unifies in celebration of this achievement.
2012: The effects really begin to take shape. Consumer demands in Asia surpass the US consumer demands. Supply markets leave the United States.
2017: Social Security and Medicare Trustfunds begin to shrink as babyboomers collect benefits and fewer and fewer workers replace them.
2030: Crude oil prices reach $5,000 per barrel, but telework is the way of the future. A New urban economy comes back to life (but short-lived euphoria).
2040: Social Security and Medicare trust funds reach $0.00.
By 2075: Global Warming reduces US agricultural produce by more than 80%.
World's military spending potential exceeds US maximum budget.
US Federal Debt borrowings reach maximum limits on World Bank.
2085: The United States declares bankruptcy, but uses military to avoid physical takeover of land.
2090: The US collapses and becomes subsidiary of China, the most modern of all superpowers, under a policy of national socialism forged as communism, with an elite market-driven upper class in control.
2100: The US in exile surrenders.
Could this happen?
but some things will not go down till 2090. One thing the USA has for a long time is
1) Diversity of Land and Climate
2) Plenty of harbors
3) Fundamental education and literacy
4) A competitive edge on e-business
5) A superior military
(This will hold for 50+ years but eventually not hold out at the very end)
One irony I also forgot to mention, nuclear weapons will actually NOT be the weapon that destroys the USA in the end.
The nature of a nuke in all cases now that nukes are in the hands of more than 1 country, is simply a self-defeating weapon. Using it means it will be used against you. Hence, it doesn't achieve the PURPOSE of any single entity. Nutcases who manage to get 1 can't easily replicate it without a factory, and no nation will settle for destruction of itself.
In a worst case scenario, I predict between 0 and 2 nukes will be used in the entire 21st century. In an event such as this:
1) Terrorist inadvertently gets hands on Warhead
2) Fires at USA
3) 50% chance US nukes back at country responsible
4) International community intervenes quickly, dispute resorts back to conventional arms.
How will the treasonous politicians spin this one for pro-bailout propaganda?
Asian stocks fall despite Senate rescue plan vote
http://news.yahoo.com/s/ap/20081002/ap_on_bi_ge/world_markets
Doesn't it add weight to what many people are saying - the bailout won't make a difference because the economic crash has already started and the bailout won't stop it?
Is it possible that the "urgency" of the bailout is primarily to give the power elite a chance to raid the Treasury BEFORE the inevitable crash occurs?
Does this report make it a little easier to keep the pressure on the Congressmen and women to defeat the bailout?
Yesterday, $1.2T lost in stocks after the $700B bailout plan was rejected as Asian markets fell sharply. Today, the rest of the world follows.
Are we headed for worse? What would Dave Ramsey say?
I feel alone right now in seeing the incredible mistake our Congress has made today. Right now, the Asian stock markets are plunging, and if we don't ratify some kind of bailout by the end of the week, it is my understanding that basic bank interaction will halt, credit will practically cease to be available, and we will be on our way to the largest depression we have ever experienced.
Our banking and financial system is at the brink of collapse, but most Americans seem ignorant as to how the bailout could have at least attempted to prevent this.
Could it be that ignorance is now so rampant in our country that the average American simply doesn't understand the basics of how our economy operates?
Should we consider extraordinary government action to take measures without a Senate and House vote?
Central Banks from Europe to Asia pumped billions in to the ailing US economy today, in a concerted effort to stem a falling Dow and failing US businesses. The US stock market rose 400 points on the news.
http://news.yahoo.com/s/ap/financial_meltdown
Apparently Banks in China, South Korea, Japan and the EU are involved. But they also include Russian as well as Arab institutions.
European and Asian economists and bankers privately are warning the US to get its economic house in order, and are hopeful that the next US president will tighten lending regulations and reign in risky US business practices.
So did the World just bail us out? I thought the world hated us, or do they just hate Bush?
Do we now owe the world a favor?
More details emerging on the "US bailout". Apparently the Hong Kong Monetary Authority and the Bank of Canada have also made cash reserves available to stem a US economic downfall.
Thanks Hong Kong and Canada!
Central Banks in Australia and India also pumped tens of billions more into money markets as part of the effort to stem the failing US economy.
See the world can unite against a common enemy....economic collapse of the US.
I am totally confused. I just read on CNN that Asian stock markets are falling due to slump of major US stocks. This is due to CNN says: in the wake of investment bank Lehman Brothers' bankruptcy, Merrill Lynch's sale to Bank of America, and the U.S. government announcing an $85 billion plan to bail out insurance giant American International Group (AIG). http://edition.cnn.com/2008/BUSINESS/09/18/world.markets/index.html
My question is HOW ON EARTH IS THIS POSSIBLE?
What is the connection between the US stock market and Asian stock markets?
i really need to get it done in the next couple of weeks but im kind of paranoid about it and its abit confusing becuse they talk about diffrent cultures, is there any chance you can help me?
http://www.stayfreemagazine.org/archives/21/lawrence_kirmayer.html
Ever have the nagging feeling that our celebrity-driven, sound bite society is making us into a stupid, cynical, shallow people? Well, look to Oliver James, author of a May 2000 article in The Ecologist titled "Consuming Misery: Across the World, the Richer a Nation Gets, the More Unhappy Its People Become."
As a critic of consumer culture, I did a double take when I saw that headline--evidence at last! In his book Britain on the Couch, James purports that our way of wealth lowers our levels of serotonin--which he calls the happiness brain chemical--thereby making us depressed. James is far from alone in equating advanced capitalism with mental illness. Here in the United States, a growing movement of therapist-activists battles "affluenza," defined as a debilitating mental state caused by having too much money. While much of the affluenza literature makes a certain kind of sense, all it takes is a cross-cultural perspective to see the problem with arguing that affluence causes depression--namely, it's not true.
All of this is a roundabout way of introducing Lawrence Kirmayer. Dr. Kirmayer is a highly respected cultural psychiatrist at McGill University in Quebec. Unlike the affluenza crowd, Kirmayer has done a great deal of research on the mental health of aboriginal peoples, immigrants, and refugees. He points out that although our capitalist ways may be emotionally hazardous, it's unlikely that we are more depressed than poorer cultures. The only way to know for sure is to study those cultures, and research is generally lacking.
Stay Free! talked to Kirmayer by phone in July 2003 about cross-culture mental illness more broadly. We found him to be a very nice man. --Carrie McLaren
STAY FREE!: What mental problems are the most similar across cultures?
KIRMAYER: At one pole you have organic disorders that are very similar across cultures, like Alzheimer's disease or epilepsy, and perhaps schizophrenia and bipolar disorder. And at the other end you have what used to be called hysteria--dissociative disorders and so on. That said, there are differences cross-culturally even for something like schizophrenia. For example, people with schizophrenia appear to do better in nonurbanized, nonindustrialized countries.
STAY FREE!: Why is that?
KIRMAYER: It's not really clear, but it's probably in part because urban environments are not good for people vulnerable to schizophrenia.
STAY FREE!: Is that unique to schizophrenia or is that the case for mental illness in general?
KIRMAYER: Well, different illnesses don't respond precisely the same way to environmental and social factors. There are probably distinctive processes that underlie schizophrenia. The impact of noisy environments, for example, has been shown to contribute to relapse. One theory why people with schizophrenia do better in some countries has to do with family support and social integration. Someone who hallucinates is going to have a hard time working in a very technological society, but in a rural agrarian society they may still be able to do something useful for the family and community.
STAY FREE!: Do the symptoms of schizophrenia vary in different cultures?
KIRMAYER: Well, there have been studies that have shown differences in the frequency of various symptoms. For example, symptoms of catatonia--people becoming immobile--are more prevalent in some developing countries than they are in the West. Certain bodily symptoms are also more prevalent in some places. In many parts of the world, people with hallucinations may understand their experience in terms of religious systems--they may see themselves as being possessed, or talking to God. You get that in the West too, but you also have common technological interpretations--they think there is a radio transmitter in their tooth and so on.
STAY FREE!: I've read that TV stations get a lot of phone calls from people with schizophrenia and manic depression telling them to stop broadcasting.
KIRMAYER: Yeah, that's a common symptom of psychosis. People will go through this process of trying to figure out, "What could possibly explain this strange feeling that I'm having?" Most of the explanations sanctioned by medicine are basically that you have a "chemical imbalance" and that is very deflating. In another society, you might be told that you have had a significant religious experience, and even though you might still need to get some help, there might be something to valorize what's gone on for you. That tradeoff is harder in a very scientistic culture. Of course, even in our culture, where people are very secular and talk about things in scientific terms, there are still a lot of moral ideas about the person and about self-control.
STAY FREE!: People say, "Get over it!"
KIRMAYER: Exactly.
STAY FREE!: If someone has symptoms that we associate with depression in the U.S., how might that problem differ in other cultures?
KIRMAYER: There are two sets of issues. There is the issue of what is actually going on for people and the issue of how they understand it. These issues don't necessarily have to match up perfectly, but they interact. People interpret what's going on differently based on their cultural background. In the case of something like depression, how you interpret symptoms influences how things unfold. If you decide these feelings of exhaustion are a sign of depression, then that diagnosis suggests that you have certain other problems. That becomes part of a feedback loop--your thoughts chase each other in circles, and that in itself can intensify depression. Even though we can distinguish between what goes on physiologically and socially, the two levels interact. Once you understand that, you can find something that looks like depression everywhere in the world. In most places, the physical symptoms are the most important part of depression: fatigue, difficulty concentrating, muscular, and skeletal aches and pains and so on. In Japan, a lot of middle-aged women complain of shoulder pain, which is unusual in North America. The name for it is futeishuso which means "nonspecific complaint." Some of those people may actually have depression, but nobody's asked them, "Do you feel sad or low? Do you feel hopeless?"
STAY FREE!: Because there's a stigma attached?
KIRMAYER: Partly, yes, and partly because the notion of depression has not been so salient in Japanese psychiatry. Notions of anxiety disorders have been much more common. Psychiatrists don't see people with anxiety and depression, anyway--doctors of internal medicine deal with those patients. Psychiatrists only deal with the most severe disorders, schizophrenia and so forth. Until about five years ago or so there were no SSRI medications in Japan. Eli Lilly didn't even try to introduce Prozac in Japan initially because they thought there would be no market. Finally another pharmaceutical company did try, and now the idea of depression has taken off.
STAY FREE!: How does the notion that depression is a biological condition affect the course of the illness? Are people in the West better or worse off for it?
KIRMAYER: It depends. There's a Japanese psychiatrist, Yutako Ono, who used to tell people, "Depression is like pneumonia, so you have to take your medicine to make it go away." The implication is that it's not chronic. You can certainly promote an image of a mental disorder that is curable even if it is biological.
STAY FREE!: But here it seems that the biological notion implies permanence.
KIRMAYER: Well, but that kind of determinism is not necessarily tied to biology. In American folk psychology, there are notions of character, which imply that someone is or is not a particular way. In the U.S. over the past few years, there has been a huge swing away from the idea that people are molded by their social environment. Instead, there's the assumption that everything is determined by one's constitution. Sometimes it's rooted in genetics, sometimes something's wrong with the brain. The whole biological turn in psychiatry was really in excess of any specific evidence, but I think that it fits well with conservative politics in the U.S. right now.
STAY FREE!: I've heard that people in more affluent nations are more often treated for mental illnesses like depression than people in nations of low or moderate wealth. So does this mean that there is more mental illness in affluent places or is it just a consequence of poor people not having access to mental health care?
KIRMAYER: I think it's mostly the latter, though in many cases we don't know because there aren't enough epidemiological studies. If you want to make a generalization, then it's probably safe to say that poor countries have more mental-health problems, but by saying "poor" nowadays, you often mean societies where there is a huge level of conflict and violence. So it's not simply poverty--you can have a small, well-integrated rural society where people don't have a lot of material goods but they have excellent mental health.
STAY FREE!: Do people in different cultures commit suicide for different reasons?
KIRMAYER: Yes. Of course, the overriding reason, which is common across cultures, is overwhelming hopelessness and the desire to escape suffering. But there are also socially sanctioned reasons that can valorize suicide; in traditional Japan, suicide was a way of maintaining honor. To some extent, this is still a factor. People who have financial reversals will commit suicide not just to escape the problem but to make a gesture that acknowledges responsibility and hence restores honor in some way. Some of that's been exaggerated. There's been a stock image of the Inuit [the indigenous peoples of the arctic formerly called the Eskimo] as having a tradition of altruistic suicide in which older people sacrifice themselves for younger people. Granted, there were situations in which a whole family was starving and an elder would volunteer to be left behind. But that's a kind of self-sacrifice that people from many cultures could understand if they were facing similarly desperate circumstance so I'm not sure that should be viewed as suicide.
STAY FREE!: Has any interesting work been done on social stereotypes? Like the idea that Eastern European Jews are more neurotic?
KIRMAYER: The cultural historian Sandor Gilman has written a lot about the stereotype of the neurotic Jew. For the most part, it's not true--everybody's neurotic. But we have different styles of expression. Woody Allen isn't more neurotic than other people, but he has made a career out of talking about his anxieties. Spalding Gray is equally expressive of his self-doubt and anxiety but with a different cultural flavor. You find huge variations in how open people are about expressing things--these aren't just stereotypes, they are real cultural differences. But even though there are, for instance, certain Asian cultures where people don't express things verbally in the way some Mediterranean or North American groups would, it doesn't mean they aren't experiencing those things. Of course, within each social group you find enormous variation, and it's easy to overestimate the importance of any cultural trait.
STAY FREE!: Scholars who study "subjective well-being" argue that Latin Americans and North Americans are happier than Asians. Is there any truth to this?
KIRMAYER: Well, this relates to what I was saying: how people narrate their own experience will be influenced by culture. Happiness is a particular cultural value. In North America, it is important to indicate your success by exclaiming your happiness. In many other cultural contexts, however, people don't view the point of life as being happy; they may view it as being productive, as being honorable, as being a contributing member to society or to a family. I think the idea that we should be happy is a particularly American value. It fits very well with consumer capitalism, where the route to happiness is the consumption of products. It's certainly possible that the strategies someone uses to pursue well-being (such as through economic productivity) have built into them inevitable unhappiness, but we're not really encouraged to question our value system.
Introduction
Background:
Definition Field Listing
The Trucial States of the Persian Gulf coast granted the UK control of their defense and foreign affairs in 19th century treaties. In 1971, six of these states - Abu Zaby, 'Ajman, Al Fujayrah, Ash Shariqah, Dubayy, and Umm al Qaywayn - merged to form the United Arab Emirates (UAE). They were joined in 1972 by Ra's al Khaymah. The UAE's per capita GDP is on par with those of leading West European nations. Its generosity with oil revenues and its moderate foreign policy stance have allowed the UAE to play a vital role in the affairs of the region.
Geography
Location:
Definition Field Listing
Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia
Geographic coordinates:
Definition Field Listing
24 00 N, 54 00 E
Map references:
Definition Field Listing
Middle East
Area:
Definition Field Listing Rank Order
total: 83,600 sq km
land: 83,600 sq km
water: 0 sq km
Area - comparative:
Definition Field Listing
slightly smaller than Maine
Land boundaries:
Definition Field Listing
total: 867 km
border countries: Oman 410 km, Saudi Arabia 457 km
Coastline:
Definition Field Listing
1,318 km
Maritime claims:
Definition Field Listing
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: 200 nm or to the edge of the continental margin
Climate:
Definition Field Listing
desert; cooler in eastern mountains
Terrain:
Definition Field Listing
flat, barren coastal plain merging into rolling sand dunes of vast desert wasteland; mountains in east
Elevation extremes:
Definition Field Listing
lowest point: Persian Gulf 0 m
highest point: Jabal Yibir 1,527 m
Natural resources:
Definition Field Listing
petroleum, natural gas
Land use:
Definition Field Listing
arable land: 0.77%
permanent crops: 2.27%
other: 96.96% (2005)
Irrigated land:
Definition Field Listing
760 sq km (2003)
Total renewable water resources:
Definition Field Listing
0.2 cu km (1997)
Freshwater withdrawal (domestic/industrial/agricultural):
Definition Field Listing
total: 2.3 cu km/yr (23%/9%/68%)
per capita: 511 cu m/yr (2000)
Natural hazards:
Definition Field Listing
frequent sand and dust storms
Environment - current issues:
Definition Field Listing
lack of natural freshwater resources compensated by desalination plants; desertification; beach pollution from oil spills
Environment - international agreements:
Definition Field Listing
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Marine Dumping, Ozone Layer Protection
signed, but not ratified: Law of the Sea
Geography - note:
Definition Field Listing
strategic location along southern approaches to Strait of Hormuz, a vital transit point for world crude oil
Government
Country name:
Definition Field Listing
conventional long form: United Arab Emirates
conventional short form: none
local long form: Al Imarat al Arabiyah al Muttahidah
local short form: none
former: Trucial Oman, Trucial States
abbreviation: UAE
Government type:
Definition Field Listing
federation with specified powers delegated to the UAE federal government and other powers reserved to member emirates
Capital:
Definition Field Listing
name: Abu Dhabi
geographic coordinates: 24 28 N, 54 22 E
time difference: UTC+4 (9 hours ahead of Washington, DC during Standard Time)
Administrative divisions:
Definition Field Listing
7 emirates (imarat, singular - imarah); Abu Zaby (Abu Dhabi), 'Ajman, Al Fujayrah, Ash Shariqah (Sharjah), Dubayy (Dubai), Ra's al Khaymah, Umm al Qaywayn (Quwayn)
Independence:
Definition Field Listing
2 December 1971 (from UK)
National holiday:
Definition Field Listing
Independence Day, 2 December (1971)
Constitution:
Definition Field Listing
2 December 1971; made permanent in 1996
Legal system:
Definition Field Listing
based on a dual system of Shari'a and civil courts; has not accepted compulsory ICJ jurisdiction
Suffrage:
Definition Field Listing
none
Executive branch:
Definition Field Listing
chief of state: President KHALIFA bin Zayid al-Nuhayyan (since 3 November 2004), ruler of Abu Zaby (Abu Dhabi) (since 4 November 2004); Vice President and Prime Minister MUHAMMAD bin Rashid al-Maktum (since 5 January 2006)
head of government: Prime Minister and Vice President MUHAMMAD bin Rashid al-Maktum (since 5 January 2006); Deputy Prime Ministers SULTAN bin Zayid al-Nuhayyan (since 20 November 1990) and HAMDAN bin Zayid al-Nuhayyan (since 20 October 2003)
cabinet: Council of Ministers appointed by the president
note: there is also a Federal Supreme Council (FSC) composed of the seven emirate rulers; the FSC is the highest constitutional authority in the UAE; establishes general policies and sanctions federal legislation; meets four times a year; Abu Zaby (Abu Dhabi) and Dubayy (Dubai) rulers have effective veto power
elections: president and vice president elected by the FSC for five-year terms (no term limits); election last held 3 November 2004 upon the death of the UAE's Founding Father and first President ZAYID bin Sultan Al Nuhayyan (next to be held in 2009); prime minister and deputy prime minister appointed by the president
election results: KHALIFA bin Zayid al-Nuhayyan elected president by a unanimous vote of the FSC; MUHAMMAD bin Rashid al-Maktum unanimously affirmed vice president after the 2006 death of his brother Sheikh Maktum bin Rashid al-Maktum
Legislative branch:
Definition Field Listing
unicameral Federal National Council (FNC) or Majlis al-Ittihad al-Watani (40 seats; 20 members appointed by the rulers of the constituent states, 20 members elected to serve two-year terms)
elections: elections for one half of the FNC (the other half remains appointed) held in the UAE on 18-20 December 2006; the new electoral college - a body of 6,689 Emiratis (including 1,189 women) appointed by the rulers of the seven emirates - were the only eligible voters and candidates; 456 candidates including 65 women ran for 20 contested FNC seats; one female from the Emirate of Abu Dhabi won a seat
note: reviews legislation but cannot change or veto
Judicial branch:
Definition Field Listing
Union Supreme Court (judges are appointed by the president)
Political parties and leaders:
Definition Field Listing
none
Political pressure groups and leaders:
Definition Field Listing
NA
International organization participation:
Definition Field Listing
ABEDA, AFESD, AMF, FAO, G-77, GCC, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IDB, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IPU, ISO, ITSO, ITU, LAS, MIGA, NAM, OAPEC, OIC, OPCW, OPEC, UN, UNCTAD, UNESCO, UNIDO, UPU, WCO, WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
Definition Field Listing
chief of mission: Ambassador (vacant)
chancery: 3522 International Court NW, Suite 400, Washington, DC 20008
telephone: [1] (202) 243-2400
FAX: [1] (202) 243-2432
consulate(s): New York, Houston
Diplomatic representation from the US:
Definition Field Listing
chief of mission: Ambassador (vacant); Charge d'Affaires Martin R. QUINN
embassy: Embassies District, Plot 38 Sector W59-02, Street No. 4, Abu Dhabi
mailing address: P. O. Box 4009, Abu Dhabi
telephone: [971] (2) 414-2200
FAX: [971] (2) 414-2603
consulate(s) general: Dubai
Flag description:
Definition Field Listing
three equal horizontal bands of green (top), white, and black with a wider vertical red band on the hoist side
Economy United Arab Emirates Top of Page
Economy - overview:
Definition Field Listing
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Despite largely successful efforts at economic diversification, nearly 40% of GDP is still directly based on oil and gas output. Since the discovery of oil in the UAE more than 30 years ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. In April 2004, the UAE signed a Trade and Investment Framework Agreement with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement with the US. The country's Free Trade Zones - offering 100% foreign ownership and zero taxes - are helping to attract foreign investors. Higher oil revenue, strong liquidity, housing shortages, and cheap credit in 2005-07 led to a surge in asset prices (shares and real estate) and consumer inflation. Rising prices are increasing the operating costs for businesses in the UAE and adversely impacting government employees and others on fixed incomes. Dependence on oil and a large expatriate workforce are significant long-term challenges. The UAE's strategic plan for the next few years focuses on diversification and creating more opportunities for nationals through improved education and increased private sector employment.
GDP (purchasing power parity):
Definition Field Listing Rank Order
$167.3 billion (2007 est.)
GDP (official exchange rate):
Definition Field Listing
$192.6 billion (2007 est.)
GDP - real growth rate:
Definition Field Listing Rank Order
7.4% (2007 est.)
GDP - per capita (PPP):
Definition Field Listing Rank Order
$37,300 (2007 est.)
GDP - composition by sector:
Definition Field Listing
agriculture: 1.8%
industry: 59.3%
services: 38.9% (2007 est.)
Labor force:
Definition Field Listing Rank Order
3.065 million (2007 est.)
Labor force - by occupation:
Definition Field Listing
agriculture: 7%
industry: 15%
services: 78% (2000 est.)
Unemployment rate:
Definition Field Listing Rank Order
2.4% (2001)
Population below poverty line:
Definition Field Listing
19.5% (2003)
Household income or consumption by percentage share:
Definition Field Listing
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):
Definition Field Listing Rank Order
11% (2007 est.)
Investment (gross fixed):
Definition Field Listing Rank Order
21.8% of GDP (2007 est.)
Budget:
Definition Field Listing
revenues: $58.88 billion
expenditures: $38.06 billion (2007 est.)
Public debt:
Definition Field Listing Rank Order
22.9% of GDP (2007 est.)
Agriculture - products:
Definition Field Listing
dates, vegetables, watermelons; poultry, eggs, dairy products; fish
Industries:
Definition Field Listing
petroleum and petrochemicals; fishing, aluminum, cement, fertilizers, commercial ship repair, construction materials, some boat building, handicrafts, textiles
Industrial production growth rate:
Definition Field Listing Rank Order
4.3% (2007 est.)
Electricity - production:
Definition Field Listing Rank Order
57.06 billion kWh (2005)
Electricity - consumption:
Definition Field Listing Rank Order
52.62 billion kWh (2005)
Electricity - exports:
Definition Field Listing
0 kWh (2005)
Electricity - imports:
Definition Field Listing
0 kWh (2005)
Oil - production:
Definition Field Listing Rank Order
2.54 million bbl/day (2006 est.)
Oil - consumption:
Definition Field Listing Rank Order
372,000 bbl/day (2005 est.)
Oil - exports:
Definition Field Listing Rank Order
2.54 million bbl/day (2004 est.)
Oil - imports:
Definition Field Listing Rank Order
137,200 bbl/day (2004)
Oil - proved reserves:
Definition Field Listing Rank Order
97.8 billion bbl (2007 est.)
Natural gas - production:
Definition Field Listing Rank Order
45.07 billion cu m (2005 est.)
Natural gas - consumption:
Definition Field Listing Rank Order
39.56 billion cu m (2005 est.)
Natural gas - exports:
Definition Field Listing Rank Order
6.848 billion cu m (2005 est.)
Natural gas - imports:
Definition Field Listing Rank Order
1.343 billion cu m (2005)
Natural gas - proved reserves:
Definition Field Listing Rank Order
5.823 trillion cu m (1 January 2006 est.)
Current account balance:
Definition Field Listing Rank Order
$41.67 billion (2007 est.)
Exports:
Definition Field Listing Rank Order
$156.6 billion f.o.b. (2007 est.)
Exports - commodities:
Definition Field Listing
crude oil 45%, natural gas, reexports, dried fish, dates
Exports - partners:
Definition Field Listing
Japan 23.4%, South Korea 10.3%, Thailand 5%, India 4.8% (2006)
Imports:
Definition Field Listing Rank Order
$101.6 billion f.o.b. (2007 est.)
Imports - commodities:
Definition Field Listing
machinery and transport equipment, chemicals, food
Imports - partners:
Definition Field Listing
China 13.1%, India 10.2%, US 8.9%, Japan 6.2%, Germany 6.1%, Italy 4.7% (2006)
Economic aid - donor:
Definition Field Listing
since its founding in 1971, the Abu Dhabi Fund for Development has given about $5.2 billion in aid to 56 countries (2004)
Economic aid - recipient:
Definition Field Listing
$5.36 million (2004)
Reserves of foreign exchange and gold:
Definition Field Listing Rank Order
$76.62 billion (31 December 2007 est.)
Debt - external:
Definition Field Listing Rank Order
$57.52 billion (31 December 2007 est.)
Stock of direct foreign investment - at home:
Definition Field Listing Rank Order
$44.37 billion (2007 est.)
Stock of direct foreign investment - abroad:
Definition Field Listing Rank Order
$14.14 billion (2007 est.)
Market value of publicly traded shares:
Definition Field Listing Rank Order
$138.5 billion (2006)
Currency (code):
Definition Field Listing
Emirati dirham (AED)
Exchange rates:
Definition Field Listing
Emirati dirhams per US dollar - 3.673 (2007), 3.673 (2006), 3.6725 (2005), 3.6725 (2004), 3.6725 (2003)
note: officially pegged to the US dollar since February 2002
Fiscal year:
Definition Field Listing
calendar year
Transnational Issues
Disputes - international:
Definition Field Listing
boundary agreement was signed and ratified with Oman in 2003 for entire border, including Oman's Musandam Peninsula and Al Madhah enclaves, but contents of the agreement and detailed maps showing the alignment have not been published; Iran and UAE dispute Tunb Islands and Abu Musa Island, which Iran occupies
Illicit drugs:
Definition Field Listing
the UAE is a drug transshipment point for traffickers given its proximity to Southwest Asian drug-producing countries; the UAE's position as a major financial center makes it vulnerable to money laundering; anti-money-laundering controls improving, but informal banking remains unregulated
I am 24 and my boyfriend is 26. He comes from an Asian family and his parents both came here from Taiwan about 27 years ago. His dad has spent all of my boyfriend's 26 years on this Earth working and only sees the family at night and on Sundays. His father has never been there for anything such as sports games and can only remember his dad hugging him once in his entire life. He has never said he loves him either.
For his whole life, everything has been blamed on my boyfriend. When he went away to college his dad would blame him for his mom's loneliness or his brother's loneliness and make him feel like it was all up to him to keep the family happy. Every time they planned family vacations he only went with his mom and brother because his dad thought all the vacations were stupid. Now, his dad is getting on his case because he thinks he should not hang out with me on his days off from work because he "needs to take care of his family."
The problem is, they spend no quality time together and it just seems like his dad would be happier with him staying home and watching TV instead of seeing me. He also said that I have to leave by 11pm. This seems unfair seeing that he doesn't live at home for free and pays $600 a month to live there. He pays all of his own bills and works full-time. He even spent his first two years at work doing overtime so he could save up $50,000 which he successfully did.
His dad tries to control how he spends his money and tells him he is wrong about every decision he makes. If he tells his dad he wants to move out, he tells him, "you have a perfectly good place to stay here." His dad recently placed pressure on him to put his money into a high interest account so he did and then he complained that he put too much money in and keeps pressuring him to put his money into the stock market when he feels uncomfortable.
When I am around them all his dad talks about are things my boyfriend did to screw up years ago like getting in a car accident or spending too much money. He can't seem to get past the fact that children make mistakes but they learn and move on. He continues to bring up the past constantly and has never said one encouraging thing to him. My boyfriend graduated from UC Irvine with two degrees and his brother graduated from UC Berkeley with two degrees. Their father never told them he was proud and never complimented about anything the whole time.
He needs to move out and get away from his controlling dad, but I am so afraid that he doesn't have the strength. I know that if he leaves his dad will ridicule him but I feel that once the storm has blown over, everything will be fine. I just can't sit there and watch his dad be like this to him and feel okay with it. I also don't want to go through another one of his mood swings where he starts going off on my boyfriend not "taking care of his family" or doing anything "productive."
If he doesn't back off or my boyfriend doesn't step up and fight back, I don't know what option I have other than to walk away. I love him a lot and we are planning on eventually getting married but I can't watch things become so destructive! How does one deal with a person who is so controlling and can never see the good in the things people do? How can one even begin to put some sense into a negative and controlling human being?
I'm looking for markets or REASONABLY priced shops stocking vintage, alternative and maybe gothic clothing.
No shops with stuff that costs over $100 thank you : )
Thank you so much!
Oh and if anyone knows - cute asian/anime/comics/manga stuff anywhere in sydney? thank you again~
Shouldn't both presidential condidates investigate and have the field returned ot the Navy. At that time oil had dropped to $10 a barrel, due to the Asian stock market crash and pres. Clinton was going through the "I did not have sex" scandal.
i just want to know if the Congress approved this deal as anyone knew oil would go up and why sell a oil field that was for our Navy. Also it was sold to Occidental Petroleum, which he dad used to run and am sure he has stock in. Do you know how much production comes out of that field?
I just find it bizaar that a VP would work out a deal to sell prodction at it's lowest, you know sense he knows so much about it. Granted the guy knows how to make money, they say over $100 million off his global warming deal, but I feel this was at the cost of the nation and they should be forced to return it.
Thank you Senator, I think that is one of the best all time avatars I ahve seen and Yahoo should have like the top ten avatars of the year.
It's simple, but has a great message. Thanks for the answer and maybe they should investigate this. I will write my senators , although they never answer, unless i am asking for an address to send a contribution or bribe. Ha.
LAMB
1 cup peanut oil
10 tablespoons hoisin sauce*
1/2 cup plum wine** or Sherry
8 garlic cloves, minced
2 tablespoons minced fresh ginger
1/2 teaspoon dried crushed red pepper
2 1 3/4-pound racks of lamb, trimmed
2 tablespoons bottled chili sauce
2 cups dry-roasted unsalted peanuts, finely chopped
SAUCE
2 cups beef stock or canned broth
1/4 cup dry red wine
2 tablespoons bottled chili sauce
1 tablespoon hoisin sauce
2 tablespoons chilled butter
*Available at Asian markets and in the Asian section of many supermarkets.
**Available at Asian markets, specialty foods stores and some liquor stores.
Do you think i could use beef tenderloin instead of lamb for this recipe? would it taste alright??
I know the US government give away $30 billions to Africa and food programs and also many more billions to Asian poor nations. What if they stop doing that and use that money to help homeowners and banks by giving them $100,000 or $400,000 for homeowners and banks instead?
This way all home owners who bought at high prices will have no more problems about housing. Will the US government do such a thing? If they do then homeowners will love the US government for sure and the banks don't have to lose the money they lend to homeowners when they purchased their homes at home prices.
Sounds dumb idea but since the government is already giving away money to third world nations like Iraq for free. Why not give the money to US residents instead to help them end their sufferring? They will also get the votes later when election season comes. It works out just fine and the stock market will love this as well.
Maybe do the same for the stock market for losses.
i think osama will make a speech from the middle east telling the wod that he has the terroist groups behind him and that osama will be a god in that part of the world. i think mc cain will be dead by summer of 2009 from being attacked by some asian people in south asia. a big hurrican will kill alot of people in south america plus american idol will suck and then be cancelled, the cubs and red sox will be on a lossing streak. the stock market will be close to crashing
IF UMNO DECLARED COURT AS ILLEGAL?
WELL WE MUST ANTICIPATE THIS COURT ACTION BY UMNO MEMBERS?
CURRENTLY, ABOUT SIX STATES UMNO MEMBERS ARE VERY ANGRY WITH UMNO LEADERS.
SO, THEY WANT SOME KIND OF ACTION TO PREPARE FOR A SNAP GENERAL ELECTION IF THERE IS A CROSS OVER FROM RULING PARTIES TO THE OPPOSITION PARTIES?
AS IT STAND NOW, IT IS POSSIBLE FOR TENGKU RAZALEIGHT HAMZAH AND HIS GANG MEMBERS TO TAKE UMNO TO COURT BEFORE THE UMNO GENERAL ASSEMBLY OR AFTER THE UMNO GENERAL ASSEMBLY.
THIS TIME TENGKU RAZALEIGHT HAMZAH HAS MORE BACKING FROM 6 OPPOSITION CONTROL STATE NAMELY PENANG, KEDAH, PERAK, SELANGOR, KUALA LUMPUR AND KELANTAN.
IN SIMPLE ENGLISH IT IS A 50-50 PERCENTAGE?
OPPOSITION 6 STATES (82 MEMBERS OF PARLIMENT)
=================
PENANG,
KEDAH,
PERAK,
SELANGOR,
KUALA LUMPUR,
KELANTAN
RULING PARTIES 6 STATES (140 MEMBERS OF PARLIMENT)
===============================================
NEGERI SEMBILAN, ,
JOHOR,
PAHANG,
TERENGGANU,
MALACCA,
KELANTAN.
SABAH,
SARAWAK.
NATIONAL FRONT (BARISAN NASIONAL)
==================================
POPULAR VOTES = 4,082,411
TOTAL % OF VOTES = 50.27
TOTOL FEDERAL SEAT % = 140
STATES SEATS = 63.1
THE OPPOSITION PARTIES
===============================
POPULAR VOTES = 3,796,464
TOTAL % OF VOTES = 46.75
TOTAL FEDERAL SEAT % = 82
STATES SEATS % = 36.9
FROM THE VOTES COUNTED, IT IS POSSIBLE FOR ALL JUDGES IN MALAYSIA WILL EITHER WORK FOR THE RULING PARTIES OR OPPOSITION PARTIES.
HENCE, THE JUDGE VOTES COULD BE 50-50?
WHAT HAPPENED IF THE COURT AWARD TENGKU RAZALEIGHT HAMZAH THE WINNING VERDICT?
THEN UMNO IS DECLARED ILLEGAL AGAIN.
PRIME MINISTER AHMAD BADAWI WILL SAID THAT TENGKU RAZALEIGHT IS AN UNGRATEFULL MAN BUT THEN 40% OF UMNO DELEGATES ARE BUSNESS CLASS WHILE 40% ARE EDUCATION CLASS?
LAST TIME THE EDUCATION CLASS CONTROL UMNO BUT TODAY THE BUSINESS CLASS CONTROL UMNO?
TODAY, UMNO IS CONTROL BY THE BUSINESS CLASS AND THEREFORE THEY ARE NOT SHY TO TAKE UMNO TO COURT BECAUSE IT ALL BOIL DOWN TO MONEY.
ALL THEY WANT FROM UMNO LEADERS IS TO RESPECT THEIR RIGHTS UNDER THE UMNO CONSTITUTION.
AMERICAN GOVERNMENT RESPECT THE AMERICAN PEOPLE BECAUSE THERE ARE 200,000,000 GUNS WITH A POPULATION OF 300,000,000 PEOPLE?
IN SIMPLE ENGLISH EVERY PARENT HAVE TWO GUNS?
THESE NEW BUSINESS CLASS HAVE GONE TO COURT A 1,000 TIME AND IT LIKE A CUP OF TEA FOR THEM.
THERE IS NO SENTIMENTAL VALUE OR REMORSE.
THEY HAVE TURN UMNO INTO A BUSINESS CLUB AND THE DAMAGE HAS BEEN DONE.
UMNO TODAY SPEND MORE TIME ON BUSINESS RATHER THEN ON THE PEOPLE?
THE BIBLE SAYS THAT YOU CANNOT SERVE TWO MASTERS AT ONE TIME.
EITHER YOU LOVE ONE MASTER AND HATE THE OTHER MASTER.
LOOK LIKE UMNO LOVE MONEY AND PASS LOVE THE PEOPLE.
HENCE, PAS PARTY HAS BECOME POPULAR WITH THE PEOPLE IN KELANTAN, KEDAH AND PERAK?
THE MALAY WEALTH CURRENTLY IS ABOUT 20%, CHINESE 40%, WESTERNERS 30% AND OTHERS 10%?
SOME PEOPLE SAY THAT MALAY WEALTH HAS GONE TO 30% OR 40%?
BELOW ARE SOME STATISTIC FOR YOUR DIGESTION.
WE MUST NOT FORGET THAT MALAYSIA LOST BETWEEN RM 400 BILLION TO 600 BILLION AT THE KUALA LUMPUR STOCK MARKET IN 1998THE ASIAN ECONOMIC CRISIS WHICH STARTED FROM THAILAND AND MOVE TO OTHER ASIAN NATIONS WHEREBY FOREGINERS SOLD ALL THEIR SHARES AND THAT CONTRIBUTED TO THE PROBLEM ?
IT IS A GOOD IDEA IF ALL FOREINGER BUSINESS COMPANIES OR FOREGIGNERS REGISTERED THEIR SHARES WITH MALAYSIAN NAMES NUMBERING 27,000,000 CITIZENS?
THIS MEAN I COULD BE WORTH 40% OF THE MALAYSIAN EQUITY IF THEY REGISTERED THEM UNDER MY NAME SUCH AS ROBIN DONAL SAVARIMUTHU
AND IC. 501120-10-6527.
THIS WILL COME TO ABOUT RM 500,000,000,000? OR RM 500 BILLION RINGGIT?
THOSE ARAB GOVERNMENTS OWE ME THIS AMOUNT OF MONEY AND ONE DAY IT WILL BE IN THE FRONT PAGE?
THE WHOLE IDEA IS FOR THEM NOT TO SELL THE SHARE WITHOUT MY PERMISSION.
SO, THIS WILL PREVENT THE MELDDOWN OF THE KUALA LUMPUR STOCK MARKET AND THE BETTER WORD IS STOCK MARKET CRASH?
IF SOME PEOPE DO NOT GET THE MESSAGE THEN IT IS SOMETHING LIKE THIS WHEREBY FOREIGNER MARRY MALAYSIAN TO GET CITIZENSHIP?
IN SIMPLE ENGLISH ANY FOREIGNER WANT TO INVEST IN MALAYSIA MUST REGISTERED UNDER MY NAME OR THEY CANNOT INVEST IN MALAYSIA.
WE JUST CANNOT ALLOW A SECOND STOCK MARKET CRASH BECAUSE THE RINGGIT WILL BECOME LIKE JAPANESE MONEY?
IT TAKE 1,000,000 RUPIAH TO BUY ONE CUP OF TEA?
MALAYSIA GNP = RM 600,000,000 ?
MALAYSIA PRIVATE WEALTH = RM 1,200,000,000,000 ?
MALAYSIA NATURAL RESOURCES = RM 1,800,000,000,000 ?
MALAYSIA TOTAL WEALTH = RM 3.600,000,000,000 ?
IN SIMPLE ENGLISH, MALAYSIA IS WORTH ABOUT RM 4 TRILLION RINGGIT OR US$ 1.3 TRILLION DOLLARS?
MALAYSIA EQUITY BY RACES?
IF MALAY CONTROL PERCETAGE OF EQUITY FROM THE PRIVATE WEALTH
===========================================================
10%= RM 120,000,000,000
20%= RM 240,000,000,000
30%= RM 360,000,000,000
40%= RM 480,000,000,000
50%= RM 600,000,000,000
NOW LET SAY THAT THE GOVERNMENT HAVE CALLED FOR A SNAP GENERAL ELECTION BECAUSE THERE IS CROSS OVER OR FOR SOME OTHER REASONS.
LET SAY THAT UMNO HAVE BEEN DECLARED ILLEGAL ON THE EVE OF THE SNAP GENERAL ELECTION AND THERE IS NOT ENOUGHT TIME TO REGISTER A NEW POLICTICAL PARTIES THEN WHAT?
WELL WE COULD FOLLOWTHE THAILAND FORMULAR WHEREBY THAKSIN SHINAWATRA THAI RAK THAI PART WAS DEREGISTERED AND ELECTION HELD WITHIN A SHORT PERIOD OF TIME.
THAKSIN SUPPORTERS REGISTERED THEIR MEMBERS UNDER A LOCAL PARTY CALLED PPP OR PEOPLE POWER PARTY AND WON THE ELECTION WHICH LATER LED TO FORMING A NEW GOVERNMENT WITH THAKSIN SHINAWATRA AS THE GODFATHER OF PPP?
CURRENTLY, MALAYSIA ALSO HAS A POLITICAL PARTY CALLED PPP OR PEOPLE PROGRESSIVE PARTY.
THIS MEAN THAT ALL BARISAN NATIONAL MEMBERS REGISTERED THEIR NAME UNDER THE PEOPLE PROGRESIVE PARTY OR PPP?
THIS MEAN THAT THE PEOPLE PROGRESSIVE PARTY WILL TAKE ON PAKATAN RAKYAT PARTY IN THE SNAP GENERAL ELECTION.
THE JOKE IS THAT DATUK DR. M KAYVEAS COULD BECOME THE PRIME MINISTER OF MALAYSIA IF THERE IS NO OPPOSISTION FROM THE BARISAN NATIONAL LEADERSHIP.
BUT STILL A VOTE OF CONFIDENCE WILL COME FROM PARLIMENT AND WHICH MEAN THAT DEPUTY PRIME MINISTER NAJIB RAZAK STAND BETTER CHANCE OF BECOME THE 7TH PRIME MINISTER OF MALAYSIA.
ON A SECOND THOUGHT MR. ROBIN DONALD SAVARIMUTHU COULD ALSO BECOME THE NO.8 PRIME MINISER OF MALAYSIA BECAUSE OF THE RAZAK THEORY AND LED ME EXPLAIN.
RAHMAN THEORY R.AH.M.A.N. MEANING NAJIB RAZAK, N Gobalakrishnan, Nasharudin Mat Isa, Ngeh Koo Ham, Noh Omar, Noraini Ahmad Nur, Jazlan Mohamed
RAZAK THEORY R.A.Z.A.K. MEANING TENGKU RAZALEIGHT HAMZAH OR RAIS YATIM, Rashid Din, Razali Ismail, Roslan Shaharum, Rafidah Aziz, Rafael Benitez, Razali Ibrahim, Rosnah Abd Rashid Shirlin, Raine Unggi, Ronald Kiandee, AND FINNALLY ROBIN DONALD SAVARAIMUTHU
HUSSEIN THEORY H.U.S.S.E.I.N. MEANING HISHAMUDDIN HUSSEIN OR HISHAMUDDIN RAIS Hee Loy Sian, Hassan Malek, Hamim Samuri, Hou Kok Chung, Hishamuddin (SEMBRONG), Halimah Mohd Sadique, Hiew King Chew,
MAHATHIR THEORY
BADAWI THEORY
NAJIB THEORY
HISHAMUDDIN THEORY
WELL THIS IS ONLY A CLUE WHAT IS GOING TO HAPPEN IN KUALA LUMPUR, MALAYSIA VERY SOON.
LET US KEEP OUR HANDS CROSS UNTILL THE VERDICT IS OUT.
http://offside.mcoba.org/serpents-bowlers
http://www.imdb.com/name/nm0707188/bio
http://www.pmo.gov.my/website/webdbase.nsf/w_4?openForm&url=http://www.pmo.gov.my/website/webdbase.nsf/EP_Front_GovBI_FAM?openForm&title=Cabinet%20Members%202008
http://en.wikipedia.org/wiki/Members_of_the_Dewan_Rakyat,_12th_Malaysian_Parliament
http://en.wikipedia.org/wiki/Rais_Yatim
http://en.wikipedia.org/wiki/M._Kayveas
http://en.wikipedia.org/wiki/People%27s_Power_Party_%28Thailand%29
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)
http://en.wikipedia.org/wiki/Malaysia
http://en.wikipedia.org/wiki/Malaysia
http://www.unrisd.org/unrisd/website/newsview.nsf/(httpNews)/38F85F9939C7649CC1257098002B70D7?OpenDocument
http://en.wikipedia.org/wiki/Elections_in_Malaysia
in 1998, stock market had a crash in Asian countries. Why it happened? How it happened? Which country is the first country to be destoried? Who caused it? What is the effects?
Some websites talk about 1998 Asia stock market. What happened and who caused it.
I am a U.S citizen and am fairly new to investing.
Can I find any foreign mutual funds like this on broker sites like etrade, scottrade, td-ameritrade etc.? If not, where do I go?
Food Rationing Confronts Breadbasket of the World
BY JOSH GERSTEIN - Staff Reporter of the Sun
April 21, 2008
http://www2.nysun.com/pf.php?id=74994&v=0173188021
MOUNTAIN VIEW, Calif. — Many parts of America, long considered the breadbasket of the world, are now confronting a once unthinkable phenomenon: food rationing. Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also anecdotal reports that some consumers are hoarding grain stocks.
At a Costco Warehouse in Mountain View, Calif., yesterday, shoppers grew frustrated and occasionally uttered expletives as they searched in vain for the large sacks of rice they usually buy.
"Where's the rice?" an engineer from Palo Alto, Calif., Yajun Liu, said. "You should be able to buy something like rice. This is ridiculous."
The bustling store in the heart of Silicon Valley usually sells four or five varieties of rice to a clientele largely of Asian immigrants, but only about half a pallet of Indian-grown Basmati rice was left in stock. A 20-pound bag was selling for $15.99.
"You can't eat this every day. It's too heavy," a health care executive from Palo Alto, Sharad Patel, grumbled as his son loaded two sacks of the Basmati into a shopping cart. "We only need one bag but I'm getting two in case a neighbor or a friend needs it," the elder man said.
The Patels seemed headed for disappointment, as most Costco members were being allowed to buy only one bag. Moments earlier, a clerk dropped two sacks back on the stack after taking them from another customer who tried to exceed the one-bag cap.
"Due to the limited availability of rice, we are limiting rice purchases based on your prior purchasing history," a sign above the dwindling supply said.
Shoppers said the limits had been in place for a few days, and that rice supplies had been spotty for a few weeks. A store manager referred questions to officials at Costco headquarters near Seattle, who did not return calls or e-mail messages yesterday.
An employee at the Costco store in Queens said there were no restrictions on rice buying, but limits were being imposed on purchases of oil and flour. Internet postings attributed some of the shortage at the retail level to bakery owners who flocked to warehouse stores when the price of flour from commercial suppliers doubled.
The curbs and shortages are being tracked with concern by survivalists who view the phenomenon as a harbinger of more serious trouble to come.
"It's sporadic. It's not every store, but it's becoming more commonplace," the editor of SurvivalBlog.com, James Rawles, said. "The number of reports I've been getting from readers who have seen signs posted with limits has increased almost exponentially, I'd say in the last three to five weeks."
Spiking food prices have led to riots in recent weeks in Haiti, Indonesia, and several African nations. India recently banned export of all but the highest quality rice, and Vietnam blocked the signing of a new contract for foreign rice sales.
"I'm surprised the Bush administration hasn't slapped export controls on wheat," Mr. Rawles said. "The Asian countries are here buying every kind of wheat." Mr. Rawles said it is hard to know how much of the shortages are due to lagging supply and how much is caused by consumers hedging against future price hikes or a total lack of product.
"There have been so many stories about worldwide shortages that it encourages people to stock up. What most people don't realize is that supply chains have changed, so inventories are very short," Mr. Rawles, a former Army intelligence officer, said. "Even if people increased their purchasing by 20%, all the store shelves would be wiped out."
At the moment, large chain retailers seem more prone to shortages and limits than do smaller chains and mom-and-pop stores, perhaps because store managers at the larger companies have less discretion to increase prices locally. Mr. Rawles said the spot shortages seemed to be most frequent in the Northeast and all the way along the West Coast. He said he had heard reports of buying limits at Sam's Club warehouses, which are owned by Wal-Mart Stores, but a spokesman for the company, Kory Lundberg, said he was not aware of any shortages or limits.
An anonymous high-tech professional writing on an investment Web site, Seeking Alpha, said he recently bought 10 50-pound bags of rice at Costco. "I am concerned that when the news of rice shortage spreads, there will be panic buying and the shelves will be empty in no time. I do not intend to cause a panic, and I am not speculating on rice to make profit. I am just hoarding some for my own consumption," he wrote.
For now, rice is available at Asian markets in California, though consumers have fewer choices when buying the largest bags. "At our neighborhood store, it's very expensive, more than $30" for a 25-pound bag, a housewife from Mountain View, Theresa Esquerra, said. "I'm not going to pay $30. Maybe we'll just eat bread."
Hey everyone,
If an earthquake touches down an important technology area in the world. We can imagine that the world stock exchange would be disturbed. Does a US trader of a private financial company have to stay awake, even after the clothing of the US market, during the first night to control what happens on the other financial markets (Europe, Asian...) to take positions ?
Thank you in advance.
knows little more than me.
Since this is the kind of fund I can move percentages, dollar amounts, do suggest you I seek out stocks/funds that are European, Asian, or stocks in natural resources i.e. research?
I know this is little information and I am not going to do anything impulsively, but I appreciate your professional suggestions?
Could I hear from professionals please, with more knowledge than me and the first poster, although I appreciate your insight.
OK, I have done so and I appreciate your insight, just thought someone had inside knowledge as to foreign versus domestic as well. thanks
How can I find a history of the 10 biggest single day losses in stock market recent history? BSC is all over the news, and asian stock markets are down 4% based mostly on anticipation... its not unrealisitc to think the Nasdaq could drop twice as much. Where would 8% fit into the history of extreme stock market movements?
I have been looking up Japanese Home style cooking and a lot of recipes call for nidashijiru, a fish and kelp flavored stock. Is this something I can buy at the local Asian market or something I have to make myself. When I look it up all I can find is recipes that call for it.
Or is it maybe called something else?
Considering ur fixed expenses (i.e. rent, mortgage, credit cards, etc) r u beginning to see urself living on a very strict budget?
Are most of ur friends and family in the same situation?
MUMBAI - As the number of U.S. home foreclosures rises inexorably, while the Japanese economy is slowing down, with confidence in company earnings falling in the wake of Nippon Steel (other-otc: NISTY - news - people )’s lowered earnings forecast Thursday, Asian investors had no shortage of reasons to dump stocks Friday.
Major Asian stock indexes dropped 3% Friday, following the Dow's 1.8% drop overnight on serial bad news suggesting that the U.S. property market is in critical condition.
Thornburg Mortgage (nyse: TMA - news - people ) disclosed Thursday that it was in default on $320 million in financing after being unable to satisfy a $28 million margin call. Meanwhile, a report from the Mortgage Bankers Association revealed that foreclosures hit an all-time high in the fourth quarter of 2007 and that U.S. homeowners collectively have less home equity than mortgage debt outstanding for the first time since 1945, when the Federal Reserve first began tracking such data. The real estate slump will doubtless aggravate the severity of the subprime meltdown, which has been traumatizing banks and securities firms around the globe.
Have you been hit with the current economic downturn?
Are you buying or selling property, home, stock market, etc...?
Over the last couple of months it has seemed like the only investors willing to put money into U.S. and European financial companies were big Asian and Middle Eastern institutions, many of them government sponsored. As a number of banks and brokerage houses have needed to shore up their balance sheets, they have turned to these foreign groups for equity infusions.
Should you follow in the footsteps of these Asian and Middle Eastern investors?
There may be good reason to do so. These foreign institutions are staffed by smart, well-educated people who do their homework. Moreover, these investors have two other traits that we consider very positive: They have long-time horizons, and they like companies with strong brands or market positions.
Is cash king during these hard times and how would you invest?
Reptilians, despised the world over and since antiquity, use the stock market to create depressions. Stock market and lending money that does not exist are the main modus operandi of the reptilian worm race. They caused the 1998 Asian crash fearing Asia was undermining their plans. They then instructed their reptilian media to bark theries of the crash known to people to be false. They did the same during the Great Depression.
The reptiles use the stock market to parasitically filter people's money and "earn" it. They also use it, along with lending money that does not exist, to take over companies. They lend money for start ups in the first years then pull the trigger later. They then acquire that company with little money, which itself does not exist (except on computer screens).
http://news.yahoo.com/s/nm/20080124/ts_nm/socgen_markets_dc
From looking at charts of the Hang Seng, Shanghai and the Nikkei it seems that they all pause around midday and stop trading? Is that true? And why do they pause?
I read this article on yahoo, but the very first paragraph confused me. I will copy it below. Basically why has the US market on friday 19th Oct caused the uk Ftse to go down today Monday 22nd Oct and what are the uncertainties causing this and could you please explain the uncertainties in more detail please. (why would the US housing market do this please?)
thank you
FTSE down on U.S. growth fears
By Dominic Lau Reuters - 2 hours 1 minute ago
LONDON (Reuters) - The top share index shed nearly 1.4 percent by mid-session on Monday following a global equities decline on renewed concerns that a U.S. housing slump would hamper growth in the world's largest economy.
"The market hates uncertainty and this question of full fallout from the subprime crisis isn't known," said Richard Hunter, head of UK equities at Hargreaves Lansdown.
Hunter added that one-third of FTSE 100 companies had significant contributions from their U.S. operations. "Whatever is happening in the U.S. economy can't just be ignored or swept under the carpet elsewhere," he said.
U.S. stocks tumbled on Friday to mark their biggest fall in two months, weighed by Caterpillar's warning that the housing slump was infecting the wider economy, while Asian shares also fell overnight.
ps: can anyone recommend any sites with links that can help people like me to understand the financial world better. thank you x
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