Crumble, crumble, crumble...

The economist, in an article on AIG writes:

The AIG bailout shows how hard it is for America's financial authorities to steer a straight course through a crisis that is piling one systemic threat onto another. Bear Stearns had been helped in March for fear of chaos in derivatives markets, in which it was a leading player as a prime broker. And, in taking on Fannie and Freddie, they were belatedly making explicit the implicit government guarantee that the twins had long enjoyed in the eyes of investors. In allowing Lehman to go bust when competitors balked at taking it on, Hank Paulson, the treasury secretary, attempted to draw a line in the sand. But AIG was considered simply too big to fail.

Its been a sad summer for US Financial Giants - long 'known' names have gone down the drain - some more are being consumed, others threatening to go bust. In the era of globalisation, and market integration, the impacts of financial strain in the World's biggest market is going to be felt heavily - in addition to the costlier oil. One hopes the Indian government takes adequate steps.
Although initial reaction belies that hope. (link)

How would this change affect the US elections - would they be less about change - or would the collapse lead a bigger clamour towards change - or a "stronger" President (with a female pit-bull a heart beat away).

We're heading for interesting times!

Tag: Financial Trouble, US, Recession, India, Government Response.

Carter-Gate: Jimmy Carter's specious claims.

In his vastly Atlanticist, ivory-tower post, written in humble turn of phrase, Jimmy Carter, ex-US President (or xPOTUS if you will), makes a rather facetious claim, and ignores unhelpful truths. Here he is:

"If India's unique demands are acceptable, why should other technologically advanced NPT signatories, such as Brazil, Egypt, Saudi Arabia and Japan - to say nothing of less responsible nations - continue to restrain themselves?"

Saudi Arabia, yes of course. That model, responsible nation responsible for exporting terrorism (along with Pakistan) with the least consequences to itself. But of course - it is *very* responsible. Go on Jimmy boy:

I have no doubt that India's political leaders are just as responsible in handling their country's arsenal as leaders of the five original nuclear powers. But there is a significant difference: the original five have signed the Non-Proliferation Treaty and strive to stop producing fissile material for weapons.

Er, Strive to stop producing fissile material? After the US has 20, 000 nukes more powerful than Hiroshima?? How many more do they need?
But wait, Jimmy's got more:

India's leaders' accepting the NPT and joining other nuclear powers in signing the Comprehensive Nuclear Test Ban Treaty would greatly strengthen the global effort to control proliferation.

Oh really. The Comprehensive Nuclear Test Ban Treaty (CTBT)  - that superb piece of legislation first mooted and pushed for by India, which the US KO'd by not ratifying. Do you mean that Jimmy Boy?

Meanwhile, other major nuclear powers, including the United States, Russia, France and Britain, are moving to limit their production.

But we heard that. And we know US has about 20000, Russia has about 9000, France and Britain a few hundred each. Dont we?

Read the article here: link

Tag: India, Jimmy Carter, US, POTUS, Indo-US Nuke Deal.