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Bailout fever rescue economy or Market correct itself? How many trillions are enough? Who shouldn't be bailed out?
“Bailout” fever runs beyond the US, to affect Europe, to affect Asia… Market economy and private ownership - upon such economy systems democracy stands. The bailout tosses out dumb questions - don’t bailouts challenge the fundamentals of market economy? Impact on the ownership of the very top firms, the key performers in world’s major economies? Should market economy adjust itself or can it be rescued by bailouts? How many trillions would be enough in a global financial crisis? Who should not be bailed out?
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Has anyone bothered to ask: Why $700 billion? Why not $800 billion to bail out the economy? Or a trillion? Jeez, as long as the dam has burst, why not make it a cool $7 trillion?
Okay, $7 trillion it is, and if you think that's an exaggeration, you're wrong. In this year alone, we have committed an amount that is more than half of our entire annual gross national product to assorted bailouts and guarantees. No, that doesn't mean that we have diverted half our GNP for bailouts; it means that we have created half our gross national product virtually out of nothing.
Piracy renewed: almost 40 ships seized by Somali pirates & more than $150m(£101m) in ransoms paid so far this year
Troubled waters & age-old problem renewed: pirates inspired by Johnny Depp’s antics or by oil - the new treasure?
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Three escape pirate-hijacked tanker
NAIROBI, Kenya (CNN) -- Three British guards jumped overboard and were rescued from the water after battling in vain to prevent pirates hijacking a chemical tanker off the coast of Somalia. The Liberian-flagged Biscaglia came under "sustained and heavy attack" early Friday morning, Nick Davis, Director of Anti-Piracy Maritime Security Solutions (APMSS), said in a statement. The three APMSS-employed security guards -- all former British servicemen -- mounted "sustained non-lethal resistance" but were unable to stop the attackers seizing control of the ship, Davis said.
The trio were airlifted to safety by a German naval helicopter and flown to a French frigate after the vessel summoned assistance from coalition warships. They were later transferred to a British Royal Navy ship. All three were unhurt, Davis said. "I have spoken with my team leader on the phone and he informs me that the level of violence was significant and forced them reluctantly to leave the vessel after every effort was made to ensure the safety of the ships crew," Davis said. Pirates continued to shoot at the three in the water, Davis said. "The hijacked vessel with pirates in control then attempted to run them down." read more »
Mickey Mouse turns 80 - symbol of optimism, fun, zest for life, raised a smile from almost everyone he has touched
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You may have missed it, but one of the great inspirational figures of the last century celebrated his 80th birthday a few days ago. Born in Los Angeles in 1928, he has surely brought more pleasure to more people than anyone of his generation. His features are recognizable in almost every city on earth, and he has probably raised a smile from almost everyone whose life he has touched.
And while his name has become a metaphor for anything gimcrack, cheap or childish, he remains the supreme symbol of American optimism, fun and sheer zest for life. He is, of course, Mickey Mouse.
Oddly, the Disney corporation is not making a big deal of Mickey's birthday, perhaps because it is worried that mentioning his great age will damage his reputation among his youngest fans. So it is up to the rest of us to celebrate for him - and celebrate we should. For while Mickey's first 80 years coincided with some of the darkest moments in history, and while Disney has become a byword for commercialism, the great Mouse reminds us of the best in humanity. Sure, he may not have the muscles of Michelangelo's David, but he has a much better sense of humor.
Irresistible! 14th Chocolate Show opens in Paris with 400 exhibitors & 140 chocolatiers from around the world
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The 14th edition of the Chocolate Fair has opened in Paris featuring 400 exhibitors and 140 chocolatiers from around the world, featuring displays and mountains of chocolate, top pastry chefs and sculptures. Visitors will be able to sample treats, creamy truffles and steaming cups of hot chocolate.
"It may be doom and gloom for everybody else, but for us all is well," said Gilles Marchal of luxury French chocolate-maker La Maison du Chocolat, speaking as the annual Paris chocolate show opened Wednesday. "Chocolate is a comfort-food," he added. "There has been no drop in sales."
The French have had a long-standing love affair with chocolate since its introduction to the country by Anne of Austria in 1615. It was presented as a wedding gift upon her marriage to Louis XIII. Anne of Austria only married him on condition that she could bring her own chocolate supplies from Spain. By the mid-1600s, the chocolate drink had gained widespread popularity in France. read more »
Inventors in 800mi car race run on wood chips, cow dung, veg oil, no gas! Jagged Sierra Nevada, bleak flatness of Death Valley
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Wayne Keith, a hay farmer from Springville, Ala. (population 3,000), pulled into Berkeley last week driving a lime-green pickup truck that runs mostly on wood chips but sometimes cow dung, too. Keith, who wore dirt-flecked overalls and a trucker's cap, was in town to compete in the first Escape from Berkeley race, a kind of mini Cannonball Run to Las Vegas for drivers of vehicles that run on anything but petroleum. Two other racers relied on vegetable oil, one on alcohol and one on steam power to run his carriage (mostly for show; after a few miles, it was put on a trailer to traverse some of the dicier terrain).