News & Current Affairs

December 30, 2008

Caroline Kennedy fails to impress

Caroline Kennedy fails to impress

Caroline Kennedy

Caroline Kennedy wants to become a New York senator

Caroline Kennedy’s latest attempt to press her case to be the replacement for Hillary Clinton as a senator for New York has been widely criticised in the US media.

Ms Kennedy – daughter of former President John F Kennedy – broke weeks of silence on her bid, by giving a series of interviews at the weekend.

But she was criticized for being unknowledgeable on key policy areas, being unable to articulate why she was seeking public office for the first time – and even for possessing a verbal tic.

NEW YORK DAILY NEWS

Under the headline “Caroline Kennedy no whiz with words”, the New York Daily News mimicked Ms Kennedy’s speech pattern during the round of interviews.

“Caroline Kennedy, you know, might need, you know, a speech coach, um, if she, you know, wants, um, to be a senator,” the paper said.

Totting up the number of “verbal tics” during its 30-minute interview, the paper counted “you know” more than 200 times… and added that “‘um’ was fairly constant, too”.

Asked if President George W Bush’s tax cuts on the wealthy should be repealed immediately, Ms Kennedy replied: “Well, you know, that’s something, obviously, that, you know, in principle and in the campaign, you know, I think that, um, the tax cuts, you know, were expiring and needed to be repealed,” the paper reported.

It consulted experts to give their opinion on her speaking manner. One said it was not necessarily an indication of weakness or doubt, just inexperience. Another advised her to get coaching, to pause more often, and “to listen to her father”.

Columnist Michael Goodwin wrote: “The wheels of the bandwagon are coming off. Fantasy is giving way to inescapable truth. That truth is that Kennedy is not ready for the job and doesn’t deserve it. Somebody who loves her should tell her.”

NEW YORK POST

The New York Post also counted up the number of times Ms Kennedy said “you know” during its interview – 235 times in 41 minutes – “which works out to saying the phrase once every 10.5 seconds,” it said.

The speech expert it consulted described it as a “very, very common” verbal tic called a “vocalized pause,” and said it was a “Kennedyism” as demonstrated by her uncle.

THE ASSOCIATED PRESS

The Associated Press said “Kennedy offered no excuses for why she failed to vote in a number of elections since registering in New York City in 1988”.

“I was really surprised and dismayed by my voting record,” she told AP. “I’m glad it’s been brought to my attention.”

AP reported that “since word of her interest leaked out in early December, Kennedy has faced sometimes sharp criticism that she cut in line ahead of politicians with more experience and has acted as if she were entitled to it because of her political lineage”.

In response, Ms Kennedy said: “Anybody who knows me knows I haven’t really lived that way. And I think that in my family, I come into this thinking I have to work twice as hard as anybody else. Nobody’s entitled to anything, certainly not me.”

NEW YORK TIMES

“[Ms Kennedy] still seemed less like a candidate than an idea of one: forceful but vague, largely undefined and seemingly determined to remain that way,” the paper said.

“She provided only the broadest of rationales for her candidacy for the Senate, saying her experience as a mother, author and school fund-raiser, her commitment to public service and her deep political connections had prepared her for the job.”

The Times said Ms Kennedy spoke “knowledgeably about education issues”.

But the paper added: “… She said she hoped to be a consensus-builder, and declined to describe her positions on other pressing public issues – even in education, where she has some expertise. Ms. Kennedy would not say, for example, whether she supported proposals to abolish tenure for teachers and offer them merit pay instead.”

Ms Kennedy “seemed irritated” when asked to describe the moment she decided to seek the Senate seat. She said “she couldn’t recall”, the article said.

“Have you guys ever thought about writing for, like, a woman’s magazine or something?” she asked the Times reporters. “I thought you were the crack political team.”

HUFFINGTON POST

Huffington Post writer Diane Tucker gave her take on the emphasis other media were placing on Ms Kennedy’s speech patterns.

“The real reason her interview is riddled with ‘you knows’ is because she mocked the two Times reporters halfway through the interview.

“Rookie mistake, Caroline! You gotta play nice in the media sandbox. Good manners are important. …No one ever says ‘you know’ in my interviews for HuffPost. We edit that garbage out. I’m sure Kennedy won’t make that mistake twice. After all, she went to Harvard.”

Tucker adds: “We Americans are a kind-hearted people, and we have always felt deeply sorry for her loss. Couldn’t we make it up to Kennedy by gifting her a Senate seat? Wouldn’t that be nice?

“Never mind that she’s made it perfectly clear over the years that she really isn’t into politics. Never mind that there are hundreds of New Yorkers with more experience. If Prince Charles is entitled to be King, then by golly Caroline Kennedy is entitled to be Senator.”

SALON

Salon’s Joan Walsh writes: “Overall, [Kennedy] was slippery, and regrettably, because I admire her, I came away with the feeling that she views her single best credential for the Senate seat as her celebrity, and, secondarily, her wealth.”

Regarding Ms Kennedy’s comment to the New York Times journalists about writing for women’s magazines, Walsh wrote: “I’ve written for women’s magazines, and I can anticipate people who might object to that remark as condescending, but I thought it was smart and funny: it captured the traditional media’s growing infatuation with the telling sappy anecdote over important discussions of policy – even, sadly, at the New York Times.”

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September 18, 2008

Central banks release more funds

Central banks release more funds

Dollar bills

The extra funds are aimed at easing banking sector woes

Global central banks are pumping billions of dollars of extra funds into money markets in a co-ordinated move to lift the amount of credit available.

The move is the fourth such joint effort since December last year. It will see the US Federal Reserve inject a further $180bn (£99bn).

The Bank of England is releasing $40bn, while the European Central Bank is to provide $55bn.

The Bank of Japan and Swiss National Bank have announced similar moves.

‘Appropriate steps’

“These measures, together with other actions taken in the last few days by individual central banks, are designed to improve the liquidity conditions in global financial markets,” said the Bank of England.

“The central banks continue to work together closely and will take appropriate steps to address the ongoing pressures.”

It does help to release some of those immediate tensions that have been building up in the money market
Ian Stannard, currency strategist, BNP Paribas

The central banks of South Korea, India, Canada and Australia have also released extra funds.

The co-ordinated move comes after four days of almost unprecedented turmoil in the global financial industry.

Firstly, US giant Lehman Brothers filed for bankruptcy protection, while compatriot Merrill Lynch lost its independence in a rescue takeover by Bank of America.

The US government has also had to bail-out insurance giant AIG, while in the UK, thousands of jobs are predicted to go at banking group HBOS following its sale to rival Lloyds TSB.

Major problem

Analysts said the latest move by the central banks should help to ease immediate fears.

“Obviously it does not tackle the underlying root causes of the problem, but it does help to release some of those immediate tensions that have been building up in the money market,” said Ian Stannard, senior currency strategist at BNP Paribas.

Koichi Haji, chief economist at NLI Research in Tokyo, said the co-ordinated move “shows how serious the problem has become”.

“I think the root cause was letting Lehman fail,” he said.

“That made investors reluctant to supply funds to their counterparts, particularly to the smaller banks.”

September 16, 2008

Leaders debate Bolivia turmoil


Leaders debate Bolivia turmoil

President Evo Morales speaks on arrival at Santiago airport on 15 September 2008

Mr Morales wants to give more rights to Bolivia’s indigenous community

An emergency summit of South American leaders has opened in Chile to address deepening tensions in Bolivia.

In the last week, at least 30 people have been killed in violence between government supporters and opponents.

Bolivian President Evo Morales has likened the unrest in opposition-controlled regions of his country to an attempted coup.

He said the meeting was important as democracy had to be defended not only in Bolivia but all of South America.

The unrest represents the most serious challenge to Mr Morales since he took office almost three years ago.

Chilean President Michelle Bachelet called the emergency meeting of the Union of South American Nations (Unasur) on Sunday, to help resolve the crisis.

Energy fears

Arriving in Santiago, Evo Morales said he had come “to explain to the presidents of South America the civic coup d’etat by governors in some Bolivian states in recent days”.

“We’ve seen looting, the ransacking of institutions, attempts to assault the police and the armed forces,” he said

The unrest centers on his decision to hold a referendum on a new constitution in December.

Bolivian Vice-President Alvaro Garcia (right) opposition leader Mario Cossio (left) hold talks in La Paz

The Bolivian vice president has held talks with an opposition representative

Mr Morales says he wants to re-distribute Bolivia’s wealth and give a greater voice to the large indigenous community.

But opposition leaders oppose the plan and demand greater autonomy as well as more control over natural gas revenues in their areas.

Trouble has flared in several eastern provinces and cities, with opposition supporters occupying government buildings. On Friday, Mr Morales declared martial law in the Pando region, which has seen deadly clashes between rival factions.

Most of the leaders of Unasur’s 12 member-nations are attending the summit in a bid to solve the crisis.

The correspondent in the region says that no one in South America wants the situation in Bolivia to escalate.

Neighboring Brazil and Argentina are particularly worried about their supplies of natural gas, which come from the east of the country where the dispute is at its most severe.

But, our correspondent adds, it is not clear what the meeting in Chile can achieve. Representatives of Bolivia’s opposition are not attending the summit.

map

There have been some talks between the two sides, however.

On Sunday night Bolivian Vice-President Alvaro Garcia met opposition representative Mario Cossio, the governor of Tarija province. They agreed to hold more talks when Mr Morales returns from Chile.

The unrest in Bolivia has triggered a downturn in relations with the US.

Last week Bolivia accused the US of supporting the opposition and expelled its ambassador. Venezuela followed suit to show solidarity and Honduras has refused to accept the credentials of a new US envoy.

Venezuelan President Hugo Chavez said the unrest in Bolivia was “a conspiracy directed by the US empire”, likening it to the 1973 CIA-backed coup which ousted Chile’s President Salvador Allende.

The US says it regrets the recent diplomatic expulsions and has rejected Bolivia’s allegations against its ambassador.

September 10, 2008

Somali MP assassinated at mosque

Somali MP assassinated at mosque

Somali MP Mohamed Osman Maye

Mr Maye had publicly expressed his concern about the worsening violence

Somali MP Mohamed Osman Maye has been shot dead outside a mosque in the town of Baidoa, the seat of parliament.

He was thought to have been an ally of President Abdullahi Yusuf.

He is the first MP to have been assassinated since Ethiopian forces helped the interim government oust Islamists from power in December 2006.

Meanwhile, Islamist militants who took over the port town of Kismayo last month have imposed a curfew following the assassination of several residents.

“The curfew started on Monday night and will go on until we secure the town,” Abdurrahman Ali Mohamed, who is charge of security in the town, told BBC.

Insurgents of the al-Shabab group seized control of Kismayo in August after a three-day battle in which an estimated 70 civilians were killed.

Somalia’s third city, is strategically important because it serves as a port for the south of the country.

He says it is the biggest city the Islamists have seized during their 20-month insurgency.

Al-Shabab, a radical wing of the Union of Islamic Courts which ruled much of southern Somalia in 2006, has refused to participate in a UN-backed peace initiative taking place in Djibouti.

Hundreds of thousands of people have been displaced in fighting which has been worst in the capital, Mogadishu.

Earlier this week, Mr Maye gave a speech to parliament, expressing his concern about the worsening violence.

“He was shot in the head outside a mosque where he had attended evening prayers,” MP Amir Shaketi told the AFP news agency.

Somalia has been without a functioning national government since 1991 and has suffered ongoing civil strife.

September 6, 2008

US rules out new economic package

US rules out new economic package

Worker rolls a spool of cloth at the Nice-Pak factory in New York state

Jobs are being lost in the service, business and manufacturing sectors

The United States government says it does not see an immediate need for new measures to stimulate the US economy despite a sharp rise in unemployment.

The latest figures show a rate of 6.1% – the highest since December 2003.

A White House spokeswoman said that while the figures were disappointing, the existing economic stimulus plan was having the impact intended.

A call for more action had been made by the Democratic Party presidential candidate, Barack Obama.

A higher-than-expected 84,000 jobs were lost last month, which together with the unemployment rate has added to concern about the US economy and its ability to stave off a recession.

In a further blow, the Labor Department revised upwards job loss figures for each of the past two months.

The Federal Reserve said earlier that economic activity remained “weak”.

A separate report by the Mortgage Bankers Association said that almost one in 10 US homeowners were behind with their mortgage payments or was in foreclosure procedures.

The 9.2% default rate between April and June was up from 8.8% in the previous quarter, and nearly double the rate one year ago.

‘Convincing evidence’

The number of jobs lost last month was significantly higher than the 75,000 forecast by economists.

All sectors of the economy were affected with manufacturing worst hit, shedding 61,000 jobs.

This is more convincing evidence that the economy is still in trouble
Gary Thayer, Wachovia Securities

The labor market has worsened noticeably in recent months, reflected by the fact that it is now apparent that more jobs were lost in June and July than was previously thought.

Revised figures show that in June, 100,000 jobs were lost while in July 60,000 jobs disappeared. This was up from the 51,000 figure initially forecast for both months.

“It seems unemployment in the US really is accelerating,” said the BBC’s North America business correspondent, Greg Wood.

“There do not seem to be many sectors of the US economy which are hiring.”

‘Clearly deteriorating’

In the first eight months of 2008, 605,000 jobs have been lost.

Employers have now reduced their payrolls for eight straight months, with the dramatic downturn in the housing market and the credit crunch hurting all sectors of the economy.

“This is more convincing evidence that the economy is still in trouble,” said Gary Thayer, senior economist at Wachovia Securities.

“The economy is clearly deteriorating.”

Political focus

Both candidates in November’s Presidential election are under pressure to come up with concrete proposals to help the growing number of people out of work and families battling against rising living costs.

Although the US economy grew a robust 3.3% in the second quarter, businesses are struggling to cope with the high cost of raw materials and energy, fragile consumer confidence and weaker export markets.

The Federal Reserve, which meets to decide on interest rates next week, has warned that the US is facing the twin threats of weak growth and rising inflation.

The bleak employment picture means the Fed is unlikely to raise rates in the foreseeable future while further cuts seem equally unlikely against a background of rising inflation.

“The jobs number is weak again but we think this probably is not the time to panic,” said Steve Goldman, strategist at Weeden & Co.


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