Archive for the ‘IRA’ Category

Experts urge Obama to rethink Iran policy

November 15, 2008

President-elect Barack Obama must rethink U.S. policy toward Iran, eschewing confrontation and failed attempts to isolate Tehran through sanctions, according to a group of experts and former diplomats.

Reuters

Tackling Iran’s nuclear ambitions will be one of Obama’s main foreign policy challenges after he takes office on January 20. He has said he would harden sanctions but has also held out the possibility of direct talks.

The panel of 20 experts, who include academics and former U.S. ambassadors, warned against a military attack on Iran and called for unconditional negotiations, saying it was the only viable option to break “a cycle of threats and defiance”.

“An attack would almost certainly backfire … and long experience has shown that prospects for successfully coercing Iran through achievable economic sanctions are remote at best,” they said in a joint statement to be presented to a conference on the future of U.S.-Iran relations next week.

Iranian President Mahmoud Ahmadinejad smiles during a meeting ... 
Iranian President Mahmoud Ahmadinejad smiles during a meeting with Iraqi former prime minister Ibrahim al-Jafari in Tehran in October 2008. Barack Obama may have pledged during his campaign to talk to Iran’s leaders, but he could fall into a trap by replying to President Mahmoud Ahmadinejad’s congratulatory letter, analysts warn.(AFP/File/Atta Kenare)

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http://news.yahoo.com/s/nm/20081114/
pl_nm/us_usa_obama_iran_1

All that money you’ve lost — where did it go?

October 11, 2008

By ERIC CARVIN, Associated Press Writer

NEW YORK – Trillions in stock market value — gone. Trillions in retirement savings — gone. A huge chunk of the money you paid for your house, the money you’re saving for college, the money your boss needs to make payroll — gone, gone, gone.

Whether you’re a stock broker or Joe Six-pack, if you have a 401(k), a mutual fund or a college savings plan, tumbling stock markets and sagging home prices mean you’ve lost a whole lot of the money that was right there on your account statements just a few months ago.

A money changer counts out US dollars at a currency exchange ... 

But if you no longer have that money, who does? The fat cats on Wall Street? Some oil baron in Saudi Arabia? The government of China?

Or is it just — gone?

If you’re looking to track down your missing money — figure out who has it now, maybe ask to have it back — you might be disappointed to learn that is was never really money in the first place.

Robert Shiller, an economist at Yale, puts it bluntly: The notion that you lose a pile of money whenever the stock market tanks is a “fallacy.” He says the price of a stock has never been the same thing as money — it’s simply the “best guess” of what the stock is worth.

“It’s in people’s minds,” Shiller explains. “We’re just recording a measure of what people think the stock market is worth. What the people who are willing to trade today — who are very, very few people — are actually trading at. So we’re just extrapolating that and thinking, well, maybe that’s what everyone thinks it’s worth.”

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http://news.yahoo.com/s/ap/20081011/ap_on_bi_ge/where_s_
the_money;_ylt=AkKucZ8sq3OvinoJZ3KzHyms0NUE

Passers-by stop to view a screen displaying markets news, with ...
Passers-by stop to view a screen displaying markets news, with Moscow’s Micex index displayed, Friday, Oct. 10, 2008, Paris. Regulators in Russia ordered Moscow’s MICEX not to open for regular trading at the usual time, and the opening of the RTS was also postponed until further notice, the state-run RIA-Novosti news agency said.(AP Photo/Thibault Camus)