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Week of January 4, 2009 - January 10, 2009

Obama seems to like retreads


A recent article in Newsweek lauds Obama's Mid-East peace initiative under Dennis Ross.
(http://www.newsweek.com/id/178470)
According to his bio on Wikipedia, Dennis Ross was the co-founder of AIPAC. How can someone so tied to the Israeli side of the process claim to be an unbiased arbiter of the peace in Palestine. It sounds to me like Obama is vulnerable to appointing a lot of people that previously served in the Clinton administration or are tied in some way to past failed efforts. This shows a lack of vision and imagination in what is needed for real "change". Real change requires an infusion of new thinking which does not seem to be materializing in the new administration.

Does inequality cause bubbles or vice versa


An investment banker, turned psychologist, Eric Schoenberg, weighs in on a question I asked in a previous post.

"Thus, the answer to your other question is that income concentration both causes and is caused by bubbles. It causes bubbles to the extent that it makes more salient how far ahead the economic winners are, and, empirically, certainly in my studies and, though I haven't seen any papers to this effect, quite clearly in the real world, bubbles generate greater inequality as well."

Check out the details at the link below from Mark Thoma's blog.

"It Might Appear that Some Agents become Risk-Loving"



Lebanon Redux


Just as we did in the war on Lebanon, the US runs interference for Israel again. What more evidence is needed that we that we can't be an unbiased party to any peace effort in Palestine?

US Blocks UN Action on Gaza Conflict

by: The Associated Press

    United Nations - The United States late Saturday blocked approval of a U.N. Security Council statement calling for an immediate cease-fire in the Gaza Strip and southern Israel and expressing concern at the escalation of violence between Israel and Hamas.

    U.S. deputy ambassador Alejandro Wolff said the United States saw no prospect of Hamas abiding by last week's council call for an immediate end to the violence. Therefore, he said, a new statement at this time "would not be adhered to and would have no underpinning for success, would not do credit to the council."

    France's U.N. Ambassador Jean-Maurice Ripert, the current council president, announced that there was no agreement among members on a statement. But he said there were "strong convergences" among the 15 members to express serious concern about the deteriorating situation in Gaza and the need for "an immediate, permanent and fully respected cease-fire."

    Arab nations demanded that the council adopt a statement calling for an immediate cease-fire following Israel's launch of a ground offensive in Gaza earlier Saturday, a view echoed by Secretary-General Ban Ki-moon.

    Libya's U.N. Ambassador Giadalla Ettalhi, the only Arab member of the council, said the United States objected to "any outcome" during the closed council discussions on the proposed statement.

    He said efforts were made to compromise and agree on a weaker press statement but there was no consensus.


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eaanders

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