Federal Reserve Chairman Ben Bernanke must start explaining how the United States will pull back from the unprecedented monetary and fiscal support provided to the economy after the credit crisis. It is a debate going on across the world.
According to The Independent UK, "in his first term chairing the Federal Reserve, Ben Bernanke was nicknamed 'Helicopter Ben' for his willingness to shower money on the markets, as he tried to put out fires in the credit crisis. Second-term Ben will need a new nickname, because the next order of business is pulling all that money back out of the system."
The American Enterprise Institute (AEI) is considered to be the think-tank headquarters of neoconservative thought. Neoconservatives had been strong supporters of George W. Bush's administration and seized control of former Vice President Dick cheney's foreign policy initiatives.
Mr. Bush was persuaded by neoconservatives to topple the Saddam Hussein regime, which worsened the geo-political situation of the Middle East as Iran exploited its opportunity to start a nuclear weapons program and covertly infiltrate pro-Iranian, Muslim-extremist elements into Iraq, amidst the chaos. Michael Rubin has been a featured speaker at numerous AEI conferences.
It was brought to my attention on Tuesday morning that some readers faced difficulties posting their comments on the Dallas Blog. Well, the technical problems have been fixed. So, readers can now return to posting their comments.
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Bollywood, the national headquarters of the Indian film industry, may be a tiny minnow compared with Hollywood in regards to box office revenues and hit rate, but India and other emerging markets could become the savior of the U.S. movie industry as it struggles to obtain funding from risk-averse, recession-hit financial tycoons in the West.
Anthony Bolton of Fidelity Investments dismisses the notion of a China 'bubble,' believing it's "overstated" as he intends to launch his fund in late February.
According to the Daily Telegraph of London, "Anthony Bolton, the legendary fund manager, said that he sees in China the many similarities he saw investing in Europe in the early part of his career and added that concerns over a China 'bubble' have been 'overstated.'"
President Hugo Chavez of Venezuela has signed an official decree declaring an "electricity emergency" to help his government tackle power shortages so that the Venezuelan citizens can watch and listen to his "live" TV and radio broadcasts on a continual basis.
The BBC News reports that, "speaking on his new radio show, President Chavez said Venezuela, which depends heavily on hydropower, was facing the worst drought in 100 years," and perhaps just like President Barack Obama, he's blaming former President George W. Bush.
The White house proposes the creation of a new agency to study climate change. The Climate Service agency will operate with NOAA's National Weather Service and National Ocean Service, as announced by the Commerce Department on Monday. Climate change revelations has drawn doubts from many scientists in recent years.
According to Fox News, "Commerce Secretary Gary Locke and Jane Lubchenco, head of the National Oceanic and Atmospheric Administration, announced NOAA will set up the new Climate Service to operate in tandem with NOAA's National Weather Service and National Ocean Service."
Word is geting out that Barack Obama is re-incarnating the presidency of Jimmy Carter. Yesterday, the Dallas Blog posted a story from a Beijing economist, Tan Yaling, explaining that China shouldn't budge on the value of the 'yuan' Chinese currency, because Obama poses no threat to his so-called enemies. He was ridiculed for doing nothing when North Korea, Venezuela and Syria confront the U.S. Apparently, Iran also got the message. Ms. Tan even suggested that China continue selling weapons to countries strongly opposed to the U.S.
Beijing announced through the state-run media that the government will "not yield to Obama's hardline on yuan," the nation's currency. President Barack Obama vowed to get "much tougher" with the Chinese Communist Party "on exchange rates and trade." Economists working for the government "said China should not give in to increased U.S. pressure that stems from its domestic problems."
Viktor Yanukovych, Ukraine's pro-Moscow opposition leader, will win a narrow victory in the nation's presidential election, electoral officials claim.
According to the BBC News, "with more than 98% of votes counted, Mr. Yanukovych had a 2.7% lead over his rival, Mrs. Yulia Tymoshenko, media said. Mr. Yankovych called on Mrs. Tymoshenko to quit, but she refused and is expected to challenge the results."