<b>Brazil president blames white people for crisis</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Brazilâs President Luiz Inácio Lula da Silva on Thursday blamed the global economic crisis on âwhite people with blue eyesâ and said it was wrong that black and indigenous people should pay for white peopleâs mistakes.</b>
Speaking in BrasÃlia at a joint press conference with Gordon Brown, the UK prime minister, Mr Lula da Silva told reporters: âThis crisis was caused by the irrational behaviour of white people with blue eyes, who before the crisis appeared to know everything and now demonstrate
.........<!--QuoteEnd--><!--QuoteEEnd-->
British Prime Minister Gordon Brown said Thursday that <b>"a new world order"</b> is emerging following the G20 summit in London on tackling the global financial crisis.
<b>Recession Jobs Losses Top 5 Million </b>
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->On Feb 4th, Jan 09 was reported to be 522,000 job losses
On Mar 6th, Jan 09 was reported to be 655,000 job losses
On Apr 3rd, Jan 09 was reported to be 741,000 job losses
<!--QuoteEnd--><!--QuoteEEnd-->
Under the age old Christian Caste system, Lula is a backward caste, a "pardo". He feels the upper caste Brazilians (White, Blue eyed ones are very high caste) may be trying to keep the lower castes down.
I think upper caste Christians that Lula is talking about are very accusatory towards us Hindus for example. It is only natural that Hindus hold these White upper caste Christians accountable as well. Why are the Untouchables of Europe, the "Roma" oppresed by the upper caste Pope who under Europe's ancient caste system force them in apartheid like conditions? Because it ensures Upper caste Christians will rule the world.
<!--QuoteBegin-Mudy+Mar 27 2009, 09:44 AM-->QUOTE(Mudy @ Mar 27 2009, 09:44 AM)<!--QuoteEBegin--><b>Brazil president blames white people for crisis</b><!--QuoteBegin--><div class='quotetop'>QUOTE<!--QuoteEBegin--><b>Brazilâs President Luiz Inácio Lula da Silva on Thursday blamed the global economic crisis on âwhite people with blue eyesâ and said it was wrong that black and indigenous people should pay for white peopleâs mistakes.</b>
Speaking in BrasÃlia at a joint press conference with Gordon Brown, the UK prime minister, Mr Lula da Silva told reporters: âThis crisis was caused by the irrational behaviour of white people with blue eyes, who before the crisis appeared to know everything and now demonstrate
.........<!--QuoteEnd--><!--QuoteEEnd-->
[right][snapback]95821[/snapback][/right]
<!--QuoteEnd--></div><!--QuoteEEnd-->
<i>China foreign exchange reserves at $1.954 trillion...
--------------------------------------------------------------------------------
US Federal budget deficit sets March record $192.3B...</i>
<b>China Slows Purchases of U.S. and Other Bonds </b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Chinaâs foreign reserves grew in the first quarter of this year at the slowest pace in nearly eight years, edging up $7.7 billion, compared with a record increase of $153.9 billion in the same quarter last year.
China has lent vast sums to the United States â<b> roughly two-thirds of the central bankâs $1.95 trillion in foreign reserves are believed to be in American securities</b>. <!--emo&--><img src='style_emoticons/<#EMO_DIR#>/tongue.gif' border='0' style='vertical-align:middle' alt='tongue.gif' /><!--endemo--> But the Chinese government now finances a dwindling percentage of new American mortgages and government borrowing.
.............
There have also been some signs that Americans may consume less and save more money in response to hard economic times. This would further decrease the American dependence on Chinese savings.
...
While those policies may run a long-term risk of setting off inflation, they also may benefit China if they rekindle economic growth in the United States and thereby revive Chinaâs faltering exports<!--QuoteEnd--><!--QuoteEEnd-->
US home owners and very soon commercial building owners can make China bankrupt. <!--emo&--><img src='style_emoticons/<#EMO_DIR#>/biggrin.gif' border='0' style='vertical-align:middle' alt='biggrin.gif' /><!--endemo-->
<b>Decoding the Financial Jargon</b>
By Suketu Mehta
In the U.S., the economic situation implies that people are losing their jobs and must therefore leave their houses. In Africa, the consequence is that people will not have anything to eat and will die.
Translated By Ashley Bell
8 April 2009
Edited by Bridgette Blight
Italy - Espresso - Original Article (Italian)
The view from the window of my apartment in New York opens to two ground zeros. To the left, the epicenter of the explosion that changed the characteristic profile of Manhattan, creating an abyss where the World Trade Center used to stand. To the right, the area surrounding Wall Street, the financial capital of the world, the epicenter of the economic crisis.
Eight years of the Bush administration â beginning with a $128 billion surplus from the Clinton Administration and leaving a $10.6 trillion deficit behind â have left us with a global financial system in ruins. I remember when, in 2006, I went to a mortgage lender to see if I could afford a house.
âI donât have a steady job,â I began to explain, âand my income can vary from year to year, so it is difficult to estimate.â
âIt doesnât matter,â interrupted the broker. âIt is not necessary to disclose your income to anyone. We can give you a loan that does not require you to present documents.â
I was shocked. The streets of the United States must really be paved in gold, I thought. Little did I know it would turn out to be fool's gold.
Now the whole world is paying for the fact that Americans paid too much for their houses.
Once again, those who suffer the most are the poor. Ninety million Americans could fall under the poverty threshold by the end of 2010 because of the crisis. The investors of rich countries keep their money far away from the risky stock markets of emerging countries. In the U.S., the economic situation implies that people are losing their jobs and must therefore leave their houses. In Africa, the consequence is that people will not have anything to eat and will die.
<b>
The ease with which we have been deceived can be blamed for a large part on the language in the world of business that has become as incomprehensible as the Latin mass. We are victims of jargon, that of academic journals, the law, doctors and the financial market. Very few people actually know the meaning of derivatives or âcredit default swapsâ.</b>
Bankers were able to rob us by hiding behind a wall of jargon. Legislators, who were presumably keeping an eye on the bankers, donât understand their language, as the recent sessions of Congress about the financial crisis have shown us. They asked stupid question to the big leaders of finance, who were serving as witnesses before Congress. These legislators have surpassed each other in expressing their populist anger. Therefore, the bankers have hidden themselves once again behind a wall of jargon.
When the economic pages of a newspaper become as indecipherable as an academic publication it is necessary to be alarmed. In âPolitics and the English language,â George Orwell warned us about the proliferation of jargon, and of using language with the goal of hiding misdeeds and tyrannies.
âIn our time, political speech and writing are largely the defense of the indefensible,â Orwell wrote. In our days, if we substitute the word âpoliticiansâ with âfinancial leadersâ then we will have a clear view on the language of the modern economy.
Therefore, it is here that writers and journalists assume a central role. We are the intermediaries, the interlocutors and no one else can fulfill this role. It is our responsibility to break down the wall of jargon, to listen to the financial experts and to translate their speeches to help those who are not experts. It is our responsibility to transmit to the public, in understandable language, the deliberations of the rich and powerful, so that we are all able to make informed judgments on why we have been deceived and caught.
In the same way that Tolstoy wrote on the Napoleonic wars, our books must understand and write about the financial wars of the twentieth century. Our democracy depends on this, the fact that the common people must understand the language of the elite.
brillant article.
the decline of america is in full force.
<b>China Stocks Are âOvervalued,â Says Morgan Stanley</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->âThe market has rallied ahead of fundamentals,â said Morgan Stanleyâs Hong Kong-based strategist Jerry Lou in a note today. Lou cut his view on Chinaâs stocks to âcautiousâ from âneutral.â His target of 36.3 points for the MSCI China Index is 18 percent below the gaugeâs close yesterday.
Loan growth is set to fall in coming quarters, causing deterioration in macroeconomic indicators such as the purchasing managerâs index and corporate earnings, Lou said. <b>MSCI China companies may see profits tumble 15.4 percent this year, while those on the CSI 300 Index, measuring yuan-denominated stocks in Shanghai and Shenzhen, may drop 8.8 percent.</b>
<!--QuoteEnd--><!--QuoteEEnd-->
<b>INFOSYS CHAIRMAN
</b><b>
Based on the data that we have -- which came from a survey that we conducted -- and based on the discussions we have had with various decision-makers and opinion leaders and thinkers and economists, we have come out with guidance for the next year which clearly shows that our revenues and profit may dip.
We believe that the next four quarters will continue to be difficult. </b>
ropping Divorce Rate</b>
--><img src='style_emoticons/<#EMO_DIR#>/tongue.gif' border='0' style='vertical-align:middle' alt='tongue.gif' /><!--endemo-->Â But the Chinese government now finances a dwindling percentage of new American mortgages and government borrowing.