Cake or Death: You can always count on the UN to be totally useless

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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Tuesday, May 09, 2006

You can always count on the UN to be totally useless

The UN formed a new Human Rights council and based on who was elected to the council they must be thinking that they'd add the countries that do the abusing in order to gain a better understanding on human right abuses. Really that's gotta be their reasoning...

UNITED NATIONS (Reuters) - The United Nations elected 44 of the initial 47 members of its new Human Rights Council in a first round of voting on Tuesday, including five nations named by rights groups as among the world's worst abusers.

Russia, China, Cuba, Pakistan, and Saudi Arabia, identified by New York-based Human Rights Watch as unworthy of membership on the new U.N. body, were among those winning seats.

Other nations totally NOT known for their dedication to human rights that made the council are Jordan and 13 African nations (Algeria, Cameroon, Djibouti, Gabon, Ghana, Mali, Mauritius, Morocco, Nigeria, Senegal, South Africa, Tunisia, and Zambia). I include the African nations not because they're necessarily human rights abusers, but because Africa has many of the world's most corrupt regimes even if they aren't "human rights abusers" according to Human Rights Watch. Here's the official UN results page with a complete list of the nations elected.

You'll notice the US was not elected, and it's not because we've got some horrific human rights violations. We removed ourselves because we took issue with the previous UN human rights council, countries on the council, and we felt appropriate standards were still not in place to keep abusers from being elected to the new council. I'm sure we have the man with the mustache to thank for sticking to his priciples here. Good work Johnny!

Link to me! Posted by jwookie : 2:46 PM

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