Sarkozy deftly steals the clothes of the disorganized French Left

*I knew perfectly well that he was going to do this, but actually watching him do it in real life is just kinda awesome.

http://www.spiegel.de/international/europe/0,1518,590276,00.html

Link: In Sarkozy's Shadow: A Facelift for France's Socialists - SPIEGEL ONLINE - News - International.

(...)

Ideologically trapped between the siren calls of the radical left and the liberal appeals of the "Democratic Movement" of centrist François Bayrou, the Socialists are in a deep identity crisis. Not even the financial crisis and ensuing economic downturn have awakened the party foot soldiers. In fact, Sarkozy has even managed to poach the slogans of the left. <---------

While the president considers the partial nationalization of banks, promises subsidized jobs and announces his plan to "reshape capitalism," the opposition is paralyzed, isolated and out of touch.

To make matters worse, because the party's center has grown silent, the heavyweights are taking every opportunity to draw attention to themselves. But instead of a clear course, the air has been filled with contradictory statements and proposals. "The comrades are fed up with constant strife," says one prominent Paris Socialist....

((("Anyone but Segolene." It's pathetic.))) http://www.timesonline.co.uk/tol/news/world/europe/article5162690.ece

(((Meanwhile, Sarkozy in Washington:)))

http://www.npr.org/templates/story/story.php?storyId=97035563

(((Moronic French right still doesn't get what Sarkozy is doing. They're bewildered. No wonder the guy steals their oxygen. He's without a peer-competitor in either party.)))

http://www.timesonline.co.uk/tol/news/world/europe/article5162679.ece

"Bewildered supporters of Nicolas Sarkozy, the centre-right French president, are wondering what to do. Should they blame the global financial crisis or the influence of Carla Bruni, his glamorous wife, for what sounds like a lurch to the political left?

Rarely does a day pass without "Sarko" displaying signs of an ideological rethink. He has attacked "fat cats" and the "dictatorship of the market". He declared that "laissez-faire capitalism is over" and has called for a cap on executive pay and an end to "golden parachutes".

"The transformation is striking given that Sarkozy, famed for his "zero tolerance" policing as interior minister, was once derided on the left as a dangerous right-winger..."

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UNFCCC Executive Secretary Underlines Need for Africa to be Tied Into the International Response to Climate Change

19 November 2008: In a speech to the African Conference of Ministers in Charge of Environment on Climate Change for Post-2012, which convened in Algiers, Algeria, from 19-20 November 2008, UNFCCC Executive Secretary Yvo de Boer said an agreed outcome at Copenhagen must be more Africa-friendly and spur enabling support for the continent.

He stated that Africa's Road Map from Johannesburg through Africa to Copenhagen is a key contribution to the negotiating process under the Bali Road Map negotiations. He underlined that although Africa is the continent hardest hit by the impacts of climate change, while it has benefited the least from the current international climate regime, highlighting insufficient: funds; capacity-building and technology arrangements; and participation in the Kyoto Protocol's Clean Development Mechanism. He stressed the need for Africa to be "tied into the international response to climate change, both with regard to adaptation, as well as mitigation." He added that, in light of the encouraging economic outlook for Africa, the continent needs help to "leapfrog the emissions-intensive stage of economic development." In addition, de Boer underscored that the financial crisis should not delay mitigation action, saying that procrastination "would only increase the human and economic cost of climate change and the need for adaptation." He added that the financial turmoil should rather be considered as an opportunity to make the transition to a climate-friendly economy and that moving towards a self-financing climate compact would help address its negative impacts.

In this regard, he stated that the carbon market is "an important starting point towards a self-financing climate compact," but should be complemented by a "clever financial architecture" to mobilize financial resources for both adaptation and mitigation. On the road to Copenhagen, he called on parties to "go into full negotiating mode at and after Poznan," underlining that many issues haven't reached the stage at which they could be presented in initial negotiating texts.

In concluding, he underscored that the road from Bali via Johannesburg and Algiers to Copenhagen presents African countries with "a golden opportunity" to "nurture and push creative solutions" that will help Africa adapt and design a new climate deal that works for Africa. [The Speech]

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Icelandic Singer Björk Endorsees “CoolPlanet2009” Initiative

19 November 2008: The Icelandic singer Björk endorsed "CoolPlanet2009," an initiative recently announced by the UN Regional Information Centre (UNRIC) for Western Europe that aims to raise public awareness on the impacts of global warming and to mobilize support for new commitments under climate change agreement, once the Kyoto Protocol's first commitment period ends in 2012.

Björk underlined that the financial crisis should not serve as an excuse to curtail action to limit greenhouse gas emissions, and expressed the hope that her country would "would skip the industrial revolution" and proceed directly to "sustainable high-tech options." CoolPlanet2009 will launch a website early next year to allow individuals across Europe to post ideas. [UN Press Release]

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UN Secretary-General Underlines ILO’s Role in the Emerging Green Economy

19 November 2008: In an address to the 303rd Session of the Governing Body of the International Labour Organization (ILO) taking place in Geneva, Switzerland, from 6-21 November 2008, UN Secretary-General Ban Ki-moon explained that, while in Washington DC, US, for the G-20 summit, he had stressed that the crisis is an opportunity to promote green economic development.

He emphasized that, by investing in renewable sources of energy, States can improve their energy security and spur economic development at the same time. He called for the emerging "green economy" to be "an important part of any stimulus plan arising from the current situation."

Ban underlined that the solution to the financial crisis should also include a focus on labor-intensive projects that reduce greenhouse gas emissions and help communities adapt to global warming. He underscored that the transition to a low-carbon economy can create millions of jobs and noted that in the Final Declaration adopted by the Summit, leaders committed to address critical challenges such as energy and food security, the rule of law, and the fight against terrorism, poverty and disease.

Ban expressed his conviction that the ILO "has a major role to play" in this ambitious agenda, stressing the need for the UN to fulfill its promise to "Deliver as One" and coordinate its efforts. [UN Press Release] [ILO's Governing Body's Website]

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US Intel Report: Use of Nuclear Weapons Increasingly Likely by 2025.....

Thank God we have a strong leader like Barack Obama.....

WASHINGTON (AFP) — The use of nuclear weapons will grow increasingly likely by 2025, US intelligence warned Thursday in a report on global trends that forecasts a tense, unstable world shadowed by war.

"The world of the near future will be subject to an increased likelihood of conflict over scarce resources, including food and water, and will be haunted by the persistence of rogue states and terrorist groups with greater access to nuclear weapons," said the report.

Called "Global Trends 2025 -- a Transformed World," the 121-page report was produced by the National Intelligence Council, a body of analysts from across the US intelligence community.

Officials said it was being briefed to the incoming administration of president-elect Barack Obama. A year in the making, it does not take into account the recent global financial crisis.

ZIP

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Sarkozy Triumphantly Declares Financial Crisis has "Tamed the Animal Spirits of American Capitalism".....

Fucking cocksucker.....go lose another war......

WASHINGTON: President Nicolas Sarkozy of France left the summit meeting on the financial crisis here last weekend in a triumphal mood, declaring that it had tamed the animal spirits of American capitalism. Then he went home and announced that he would hold his own summit meeting in a few weeks in Paris — on the same topic.

That has raised hackles in diplomatic circles, not just because the meeting appears to compete with a planned gathering of 20 world leaders next April. Sarkozy's aggressive statements have put American officials on edge, with some saying that he seemed determined to turn the global crisis into a referendum on the ills of untrammeled capitalism.

"Sarkozy claimed he put a bell on the American cat," said Simon Johnson, a former chief economist of the International Monetary Fund. "He said the U.S. had agreed to a whole range of negotiations on regulations. But he didn't actually come in and negotiate any of these things."

Making matters worse, Sarkozy said nothing about his plans to convene a meeting to President George W. Bush or the 18 other leaders while he was here. A senior European diplomat said he found the French proposal "amazing," while an American official said that that would be a charitable description.

ZIP

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Of salary escalation and sartorial intervention

National Party styles. Could it get more blokey. Dennis Plant MP cannot compete with the Hawke's Bay real deal. The ute, the thumbs up, the rugby photos - it couldn't be better if it was made up.
There's more to be concerned about in the Remuneration Authority's determination than John Key's make-over budget, but since the PM is the only one allowed to claim for it it is worth noting that the Crown will be picking up the tab. Muzza's Ministry for Rugby headgear will have to come from another allowance.

The parliamentary salaries and allowances determination was released by the Remuneration Authority. Why is it always back-dated? To promote structural corruption - or to bring the back-dated pay into issue as to whether they will take it or not? They have structured their own deal to include back-dated pay rises every year - their Christmas bonus? Why does it kick in retrospectively from 1 July if the thing was only signed off on Tuesday (18 November). A posthumous payrise for the PM. Why don't they set it in advance? They used to call it the "Higher Salaries Commission" - at least that had a palatable ring of truth to it.
From the top of the party-based system to the bottom:That's what the MP for Tukituki will probably be on: $131,000. And topped off with a little bit of gravy for "out-of-pocket" scenarios ;)
There are other things to be concerned about as Key leaves as the PM for APEC. One is what silly garb the Asia-Pacific leaders will have to don for their defining group photo, the other more uncomfortable situation being the bleak global trading outlook following the financial crisis. On top of this Key will be aware our currency and position is weak. Where is the bottom? The answer seems to be lower. The dominos are still falling in this game. This was Key's forte in the civvy world. Will he be taking advice, or giving it?
[UPDATE: 10PM: Garner on TV3 says giving it - Key's personally re-worked speech... we'll see.]
[UPDATE: 11PM: Colin Espiner reports from Peru that much has been made of this speech that our nation's white Obama will deliver to his fellow world leaders shortly:

Apec economies here are dreaming if they think that more free trade is going to be the answer to the credit crunch. Maybe it won't hurt, but there's a lot more than talking that needs to be done here if anything is realistically going to change.

Key knows this, and he's planning what will hopefully be a hard-hitting speech to the business leaders here tomorrow, including some words of advice on how to regulate the credit industry a little more closely so that the recent towers of Babel that came toppling down in the United States don't do so again.

It's Key's first moment on the world stage, I guess, so we'll be there to see how he performs. Then he's got some bilateral meetings with a bunch of other foreign leaders - not a bad dance card, ranging from the presidents of Indonesia and China to the Chilean president, the Canadan and Singaporean prime ministers, and of course good old Kevin Rudd.]
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Worse than 9/11

http://blog.foreignpolicy.com/node/10304

Link: U.S. retail sales collapse | FP Passport.

U.S. retail sales collapse

Fri, 11/14/2008 - 10:57am

It's become a cliché, but I think we can now officially say that the financial crisis has been worse than 9/11 for the United States:

The Commerce Department said Friday that retail sales fell by 2.8 percent last month, surpassing the old mark of a 2.65 percent drop in November 2001 in the wake of the terrorist attacks that year.

Back in October, al Qaeda-linked groups were taking credit for getting the United States into a quagmire that had "exhausted its resources and bankrupted its economy." That's rank economic illiteracy -- America's current woes have a lot more to do with subprime mortgages than overextension abroad. If anything, credit default swaps and collateralized debt obligations have proven to be the true weapons of mass destruction of our age.

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The Main Street recession is here

Remember when people were talking about the Wall Street meltdown as if it were separate from the "real" economy. Separation no more. This AP story and last week's employment report show that the crisis is "contained" no more. No wonder Paulson wants to stimulate consumer finance by buying car loans and credit-card loans.

Retail sales plunged by the largest amount on record in October as the financial crisis and the slumping economy caused consumers to sharply cut back on their spending.

The Commerce Department said Friday that retail sales fell by 2.8 percent last month, surpassing the old mark of a 2.65 percent drop in November 2001 in the wake of the terrorist attacks that year.

The decline in sales was led by a huge drop in auto purchases, but sales of all types of products from furniture to clothing fell as consumers retrenched.

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The Sting Is In The Tail

In a predictably, boring and condesending (vis a vis Fiji) piece on Mr Key's agenda at the APEC meeting, Audrey Young banishes the bigger story to her penultimate paragragh. Her headline should have been, 'Just Who IS Running This Country?'

"Most of the leaders' summit is expected to be devoted to the global financial crisis. New Zealand's views will be spelled out in a speech beforehand - to business executives - drafted by the Reserve Bank, the Treasury and Foreign Affairs.

But Key has his own views, which are outside the institutional wisdom of public service mandarins. He made it clear publicly this week he wants to be able to draw on his own experience as an internationally successful merchant banker in the speech."

Notice she talk's about "New Zealand's views." Well, I'm sorry Audrey but what you really mean is the views of NZ's public service. These guys ain't New Zealand even though they may think they are. They give advice - they don't decide policy or 'views.' That's the job of my elected PM, thank you very much. Any PM worth his salt will not simply regurgitate a speech drafted by three heads of department. Frankly, anything Treasury has to say needs to be looked at with a jaundiced eye until they learn to more accurately forecasts government surpluses and deficits.

Adolf looks forward to seeing John Key stamp his authority over these self inflated mandarins. That's the real story of his trip to APEC.

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People get sick, even in recessions

People get sick, even in recessions. Medicare and insurance companies pay for treatment in recessions.

Which helps explain why medical stocks have fallen much less than the market as a whole.
The health care segment of the Standard & Poor's 500 stock index is down about 30 percent in 2008. Steep though that is, it's less than any other sector except consumer staples, represented by companies such as Procter & Gamble.

Consumer-staple shares are down by about 20 percent, while the S&P 500 as a whole has fallen 40 percent. Financial stocks have plunged 60 percent.
One could have argued that medical stocks were cheap even before the financial crisis hit home.

Pfizer, which has fallen to $17 from $24 at the beginning of the year, trades for seven times profits and has $25 billion in cash.

True, there is uncertainty about how health care reform in the Obama administration will affect medical stocks.

But the population is aging and getting sicker. Companies will figure out how to make money on the trend one way or another.

The T. Rowe Price Health Sciences fund has lost 32 percent, year-to-date.
Vanguard's Health Care Fund is down 25 percent.

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Stressful times call for deep relaxation

After 30 years of research, a London psychologist claims to have found just what it takes to relax anguished clients. Just in time for City of London executives to find relaxation from the stressful impact of the world's financial crisis. Refile of report first transmitted on Oct 24.

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One bank that hasn't messed up

Whenever chaos rules the economy and financial markets, I try to find financiers who have fended off the storm and resisted the temptations that brought down their competitors. It's always a bit of a risk. The company that appears strong today may be on the ropes tomorrow. Amid the turmoil of 2002-2003 I repeatedly portrayed T. Rowe Price as a disciplined, upright firm that had avoided the mistakes and crimes of its mutual fund rivals. That portrait held up.

A year ago I wrote that Baltimore's Provident Bankshares "will be harmed if we head into a recession, but so far it has navigated the housing storm better than many of its rivals." That probably overstated the case. Today's financial hero is Old Line Bank, based in Bowie. Let's hope for their sake and the economy's that the column is not the kiss of future writedowns. From today's column:

As the economy slumps, one Maryland bank has not only stayed out of trouble but has burnished the kind of 24-karat lending record that rivals would covet even in a boom.

Bowie-based Old Line Bank has lent more than $200 million to local homebuilders, hoteliers, auto repair shops, lawyers, homebuyers and landscapers. But as banks fail nationwide at the greatest rate since 1993, so far every one of Old Line's borrowers is paying interest and principal as planned.

A church that was behind on payments is catching up. Other than that, Old Line has zero "nonperforming" loans, defined as at least 90 days overdue. It doesn't even have a loan that is 30 days overdue.

There's no guarantee that it won't take some lumps. But Old Line's performance so far in the greatest financial crisis in decades is up there with pitching a perfect game against the 1927 Yankees or bowling 300 wearing mittens.

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