Cake or Death: Road trip... Iraq

Al Gore says global warming is YOUR fault!
"He betrayed this country! He played on our fears!"
You don't say...

September 18th, 2007

Fed Cuts Benchmark Rate Half Point, Seeking to Forestall Recession in U.S. - "The Federal Reserve lowered its benchmark interest rate by a half point to 4.75 percent, the first cut in four years, to protect the U.S. from sinking into a recession sparked by fallout from the housing-market collapse. 'Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets,' the Federal Open Market Committee said in a statement after meeting today in Washington. The central bank will 'act as needed to foster price stability and sustainable economic growth.' Stocks surged, two-year Treasury notes rose and the dollar fell to a record low against the euro. The larger-than-forecast reduction suggests Chairman Ben S. Bernanke is prepared to leave himself open to criticism that he's rescuing investors from bad decisions for the sake of saving the six-year expansion."
U.S. Producer Prices Drop More Than Forecast; Foreclosures on Homes Double - "The 1.4 percent decrease, the biggest since October, followed a 0.6 percent increase in July, the Labor Department said today in Washington. So-called core prices, which exclude fuel and food costs, rose 0.2 percent after a 0.1 percent gain the month before. Slower inflation gave policy makers room to cut their benchmark rate today in an effort to sustain the expansion in the face of a housing recession. A drop in fuel expenses pushed prices down in August and cooling economic growth will continue to restrain raw-material costs, economists said."

September 14th, 2007

U.S. Retail Sales, Output Rise Less Than Forecast, Adding to Rate-Cut Case - "The 0.3 percent increase in sales during August followed a revised 0.5 percent gain in July, the Commerce Department said today in Washington. Purchases excluding automobiles unexpectedly fell 0.4 percent. Production gained 0.2 percent, with factory output declining for the first time since February. While a report from the University of Michigan and Reuters Group Plc showed consumer confidence increased, their sentiment index remained near the lowest level in a year. Treasury notes rallied after the retail sales and production reports, before losing the gains."

September 13th, 2007

Greenspan Says He Didn't Foresee Credit Rout, Endorses Bernanke, CBS Says - "Current Fed Chairman Ben S. Bernanke 'is doing an excellent job,' Greenspan said in an interview on the 60 Minutes program, according to excerpts e-mailed by CBS today. The show is scheduled to air on Sept. 16, a day before the publication of Greenspan's book, 'The Age of Turbulence.' The remarks come amid criticism among some investors that Bernanke has failed to be as forceful as his predecessor in responding to financial turmoil. Greenspan in 1998 cut interest rates three times after a Russian debt default rippled through global markets. Bernanke's Fed has refrained from lowering its benchmark so far, relying on other tools to provide liquidity."
Commercial-Paper Market Decline in U.S. Slows as Concerns Over Credit Ease - "U.S. stocks rose and Treasuries fell after the Federal Reserve reported short-term debt dropped by $8.2 billion, compared with a decline of $31.3 billion a week earlier. That coincided with Countrywide Financial Corp. obtaining new financing and banks finding buyers for loans to fund Kohlberg Kravis Roberts & Co.'s buyout of Alliance Boots. Issuers with the biggest chance of default had stopped trying to sell commercial paper, rekindling appetite for short- term debt, said Tony Crescenzi, chief bond market strategist at Miller Tabak & Co. in New York. 'Investors have already pushed out the weakest issuers,' Crescenzi said in an e-mail. 'The commercial paper that remains is a relatively more respected crop.'"

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Wednesday, April 12, 2006

Road trip... Iraq

How many people just up and decide we've got a car, we're 1,000 miles from Iraq... lets do it! In fact I fairly sure those words have never been uttered in human history until now... Michael Totten's on his way to Iraq and along the way takes some interesting notes on the people he comes in contact with. (Part 1, Part 2, Part 3)

I asked the clerk at the hotel desk if he knew a place where I could buy a map.

He didn't. I wasn’t surprised. Maps are generally harder to find in the East, and it’s weird how many people do not know how to read them.

“Do you have any idea what’s the best road to take to get to Turkish Kurdistan?” I said. Sean and I did have a map, we just couldn’t tell from the small granularity which was the best route.

“I don’t like Kurds,” the clerk said.

“What’s wrong with Kurds?” Sean said.

“I don’t like their culture,” he said and twisted his face. “They’re dirty and stupid.”

Sean and I just looked at him and blinked. He seemed like such a sweet kid when he checked us into the hotel.

I had a brief flashback to a conversation I had with a Kurd in Northern Iraq a few weeks before. Istanbul is a great city, my Kurdish friend said. The only problem is it’s full of Turks.

“What do you think of Arabs?” Sean said.

“Eh,” the clerk said. “We don’t like them in Turkey. We have the same religion, but that’s it. They cause so many problems. You know.”

Sometimes it seems like everyone in the Middle East hates everyone else in the Middle East. Arabs hate Kurds and Israelis. Turks hate Arabs and Kurds. Kurds hate Turks and fear Arabs. (Interestingly, Kurds love Israelis.) Everyone, especially Lebanese, hates Palestinians.

They really push the envelope on the Hithchiker's Guide to Iraq...

And on top of that Michael Yon's in Afghanistan. Discussing the incredible danger he faces on his proposed trek to outlying provinces, the poppy fields, and the popularity of the WWE.

Link to me! Posted by jwookie : 3:57 PM

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