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Massive UN vote in favor of lifting US embargo on Cuba
Related to country: Cuba

Translations available in: English (original) | French | Spanish | Italian | German | Portuguese | Swedish | Russian | Dutch | Arabic

UNITED NATIONS (AFP): The UN General Assembly voted overwhelmingly for the 17th year in a row Wednesday to demand an end to the 46-year-old US trade embargo on communist-ruled Cuba, with only three countries saying no.

Some 185 of the assembly's 192 members voted in favor of the text which reiterated a "call upon all states to refrain from promulgating and applying laws and measures (such as those in the US embargo) in conformity with their obligations under the Charter of the United Nations and international law."

The United States Israel and Palau voted against the resolution while Micronesia and the Marshall Islands abstained.

As in previous years, the assembly urged "states that have and continue to apply such laws and measures to take the necessary steps to repeal or invalidate them as soon as possible in accordance with their legal regime."

The margin of support for ending the embargo has grown steadily since 1992 when 59 countries voted in favor of the resolution. The figure was 179 in 2004, 182 in 2005 and 184 in 2007.

Ronald Godard, the US State Department's senior advisor for Latin American affairs, defended the embargo and blamed the communist regime in Havana for Cuba's woes.

"The real reason the Cuban economy is in terrible condition and that so many Cubans remain mired in poverty is that Cuba's regime continues to deny its people their basic human and economic rights," he told the General Assembly.

Cuban Foreign Minister Felipe Perez Roque welcomed the assembly vote but also looked ahead to future US-Cuban relations after next week's White House election between Democrat Barack Obama and Republican John McCain.

The US economic, trade and financial sanctions were imposed 46 years ago following the failed Bay of Pigs invasion of the Caribbean island nation by US-backed Cuban exiles.

Noting that the US embargo is "older than Barack Obama and my entire generation," Perez Roque said the new US president "will have to decide whether to concede that the embargo is a failed policy which each time creates greater isolation and discredits his country or whether he continues, with obstinacy and cruelty, to try to wear out the Cuban people with hunger and diseases."

McCain has promised that if elected he would press Cuba's communist rulers to free the island's people.

"If I'm elected president, I won't meet unconditionally with the Castro brothers, while they keep political prisoners in jail, stifle free media and block free elections in Cuba," he recently told a rally in Miami, home to a huge Cuban exiled community.

The comment was a swipe at his rival, Obama, who has said he would meet with the leaders of countries that are enemies of the United States.

A national survey by the Zogby polling organization, released on October 2, noted that 60 percent of Americans believe the White House should change its policy towards Cuba.

Speaking on behalf of the European Union, France's UN deputy ambassador Jean-Pierre Lacroix said the 27-member pan-European bloc rejects "all unilateral measures against Cuba which are contrary to common accepted rules of international trade."

He said the EU believes that "the lifting of the US trade embargo would open Cuba's economy to the benefit of the Cuban people."

He however noted that "the human rights situation (in Cuba) has not fundamentally changed, despite a decrease in the number of political prisoners and acts of harassment."

Antigua and Barbuda's UN Ambassador John Ashe, speaking on behalf of the Group of 77 and China, said the 132-nation renewed its call on Washington to lift the embargo, which he said not only undermined the principles enshrined in the UN Charter and international law, but "also severely threaten the freedom of trade and investment."


caribbeannetnews
October 30, 2008

October 30, 2008 | 8:56 AM Comments  0 comments

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Capitalism under attack?
Translations available in: English (original) | French | Spanish | Italian | German | Portuguese | Swedish | Russian | Dutch | Arabic

By The Nassau Institute:



Originally known as economic individualism, The Routledge Dictionary of Economics (2000) informs us that Capitalism is:

1. A socioeconomic system of production using roundabout methods of production (Roundabout method of production is - A method of production which uses capital goods to increase productivity of factors of production.)

2. An economy based on private enterprise.

3. The use of markets and not planning to allocate economic resources.

4. Production motivated by the profit motive.

However, with the mortgage debacle around the world creating havoc in financial markets, Capitalism is under attack.

One side of the debate says deregulation caused the problem, while the other side says government guarantees for "junk mortgages" encouraged risk taking beyond the imagination.

Another group also suggests that moving to the use of Fiat Money as opposed to the Gold Standard, has helped get the world in the mess it's in.

Whatever the cause (the history of these times will be written in the months and years ahead) governments around the world have wielded considerable control over economic affairs.

The Fortune Encyclopedia of Economics closes out a chapter on Capitalism with some important food for thought:

"Today the United States, once the citadel of capitalism, is a "mixed economy" in which government bestows favors and imposes restrictions with no clear consistent principle in mind. As Soviet Russia and Eastern Europe struggle to embrace free-market ideas and institutions, they can learn from American (and British) experience about not only the benefits that flowed from economic individualism, but also the burden of regulations that became impossible to repeal and trade barriers that were hard to dismantle. If the history of capitalism proves one thing, it is that the process of competition does not stop at national borders. As long as individuals anywhere perceive potential for profits, they will amass the capital, produce the product, and circumvent the cultural and political barriers that interfere with their objectives."

This begs the question: Has capitalism been found wanting or has the oratory skills of politicians from both sides of the political divide in the US so confused the discussion of how their actions might have impacted this crisis, that the free market is the easy target?

The shift toward Socialism

In an attempt to “fix” the mortgage crisis, governments around the world have begun nationalizing banks and insurance companies. A move that will advance Socialism around the world.

And, as Pope Leo XIII said in his Rerum novarum of May 15, 1891:

"The main tenet of Socialism, namely the community of goods, must be rejected without qualification, for it would injure those it pretends to benefit, it would be contrary to the natural rights of man, and it would introduce confusion and disorder into the commonwealth."

As long as people are generating gains that are unsustainable, all is well with the market. When the market corrects these excesses, capitalism is blamed for the problem.

There are similarities in the current economic crisis to the Great Depression. Missing so far are the direct attacks on businessmen. This may yet come to pass.

Where does The Bahamas fit in?

So how does this all relate to The Bahamas?

Regrettably, both major political parties (FNM & PLP), and the fringe group (BDM), seem convinced that government can solve personal problems of individual Bahamians.

Neither party sees the need to:

1. Encourage entrepreneurship through reducing the red tape to facilitate opening a new business.

2. Ensure improved public education as long as government chooses to monopolize the educational system.

3. Balance the budget.

4. Privatize the public corporations.

5. Reduce the size of government with the objective of lower taxes.

6. Provide the resources for an efficient justice system.

7. Encourage Free Trade, rather than so called Fair Trade.

8. Uphold the rule of law and foster a culture of accountability.

Few politicians examine the effectiveness of their policies or their rhetoric that is antagonistic toward business.

Government policy to pay the utility bills and mortgages advances the welfare state and discourages individual responsibility while increasing the national debt burden of future generations.

The Economist editorial of October 16, 2008 stated:

“Sadly another lesson in history is that in politics economic reason does not always prevail – especially when the best-case scenario for most countries is a short term recession…”

On balance, Capitalism has become the scapegoat for politics run amok.


caribbeannetnews


October 29, 2008

October 29, 2008 | 9:04 AM Comments  0 comments

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The illusion surrounding Obama’s presidency
Related to country: United States

Translations available in: English (original) | French | Spanish | Italian | German | Portuguese | Swedish | Russian | Dutch | Arabic

By BALKAN DEVLEN*



There is global euphoria about US Sen. Barack Obama nowadays. Many think he will bring change and a new direction to America’s foreign policy. Turkey is no exception.

Several people, from journalists to politicians, expressed the opinion that an Obama presidency will be the start of a new era in Turkish-American relations. They are wrong, however, and this is why:

The new US president, whether Sen. John McCain or Sen. Obama, will face the same problems when he moves into the White House come January 2009. Among these problems, three concern Turkey. The first is the resurgence of Russia. The Russian Federation is making a geopolitical comeback, fueled by oil and natural gas revenues. In the last year or so it reached its zenith, for now, with the war in Georgia (Balkan Devlen, Today’s Zaman, Oct. 20, 2008). Turkey is naturally not happy with Russia aggressively playing hardball just outside its borders. However, Turkey is also not keen on directly confronting Russia, given its extensive trade relations as well as dependence on Russian natural gas. For the US, on the other hand, Turkey is in a position to block Russian ambitions further in the Caucasus (via its links with Georgia and Azerbaijan) and even create problems, if necessary, by virtue of being able to control the Turkish straits. Therefore, the next president of the United States will be pushing hard to force Turkey to take a clear stand against Russia. A position Turkey is not willing to be in right now.

The second and third problems concern Iraq and Iran, two interrelated problems of American foreign policy. The next president has to find a way to stabilize Iraq while avoiding the creation of a Shiite-dominated regime under the spell of Iran. At the same time, he has to deal with the emerging reality that Iran might be on the road to acquire technology to eventually develop nuclear weapons. The stabilization of Iraq requires the cooperation of Shiite militias, over which Iran holds significant influence, and the Iranians are using the nuclear card to get a better deal in the post-American Iraq. Americans need the rest of Iraq to be relatively calm to be able to bargain with the Iranians from a position of strength. Turkey also wants a stable Iraq as well as a non-nuclear Iran. However, it has its own concerns regarding Kurdish ambitions in northern Iraq. This is and will be a point of contention between the US and Turkey, regardless of who the next American president turns out to be.

As for Iran, Turkey would like to pass the buck to the Americans and the Israelis. In other words, let them sort out the problem while Turkey watches safely from the sidelines. Turkey prefers a non-nuclear Iran as anything to the contrary will seriously upset the regional balance of power. However, it is also not willing to be drawn into a military conflict with Iran. The US will push Turkey to put more pressure on Iran as the Russians and the Chinese are clearly against any economic sanctions and the Europeans are not very willing, to say the least. This will put Turkey in a position similar to the one it finds itself in vis-à-vis Russia, not willing to see a resurgent regional power right on its borders but also not willing to take a strong stand.

One cannot help but remember Leon Trotsky’s argument (with regards to Soviet expansion to the lands of former tsarist Russia after the 1920s) that “revolution does not change geography.” The problems facing Turkish-American relations will not change with the election of Sen. Obama. The long-term interests of Turkey and the United States are aligned. Neither country wants to see a resurgent Russia or a nuclear Iran. Both want to see a stable and democratic Iraq. However, in the short to medium term the means of achieving these ends will create friction between the two allies.

In fact, if Sen. Obama is elected on Nov. 4, this might even have a negative effect on Turkish-American relations in the short term. He is a closed box with regards to his attitude toward Turkey. The Armenian and Greek lobbies are supporting Mr. Obama; his running mate, Sen. Joe Biden, is no friend of Turkey, to say the least. Those hoping the above-mentioned problems will magically disappear if Mr. Obama is elected will be sorely disappointed. My hope is that those at the helm of Turkish foreign policy do not have the same illusions.


todayszaman
--------------------------------------------------------------------------------
*Balkan Devlen is an assistant professor at the İzmir University of Economics.

October 28, 2008 | 8:37 AM Comments  0 comments



An Obama victory could be bad news for Caribbean tax havens
Translations available in: English (original) | French | Spanish | Italian | German | Portuguese | Swedish | Russian | Dutch | Arabic

By Barry Randall:
Caribbean Net News Editor -



GEORGE TOWN, Cayman Islands: With the US election looming on November 4, whoever is elected as the next president will have a major impact on global issues.

According to Stephen Platt, Chairman of the BakerPlatt Group, a Senator Barack Obama victory could be a particular threat to offshore centres, including several in the Caribbean.

Obama has vowed to do all he can to shut down offshore centres and, in February 2007, co-sponsored a Bill titled the ‘Stop Tax Haven Abuse Act’ introduced by Senator Carl Levin.

The Bill contains provisions aimed at combating what Levin described as the $100 billion per year drain on the US Treasury from offshore tax abuse.

Obama echoed this view on September 22 in a speech in Wisconsin, when he said, “We lose $100 billion every year because corporations get to set up mailboxes offshore so that they can avoid paying a dime of taxes in America. Imagine if you got to do that… I will shut down those offshore tax havens and corporate loopholes as President, because you shouldn’t have to pay higher taxes because some big corporation cut corners to avoid paying theirs.”

According to Platt, if Obama makes it to the White House in November, the Bill may gather an unstoppable momentum.

The Bill’s prime target is “offshore secrecy jurisdictions”, defined as jurisdictions which, in the judgment of the Treasury Secretary, have ‘corporate, business, bank, or tax secrecy rules and practices which… unreasonably restrict the ability of the United States to obtain information relevant to enforcement’.

As well as providing a statutory framework to determine what an ‘offshore secrecy jurisdiction’ is, the Bill includes a list of 34 countries which will, upon enactment, be automatically considered as such, including: Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Belize, Bermuda, British Virgin Islands, Cayman Islands, Dominica, Grenada, Netherlands Antilles, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, and Turks and Caicos Islands.

“The Bill should ring alarm bells for all those that represent entities or individuals who have dealings with the US and the blacklisted countries, either directly or through subsidiaries,” said Platt.

“There is no doubt that the personal and corporate civil and criminal risk exposure will rise if the Bill is passed into law,” he added.

Platt believes the Bill may well help to reduce the incidence of tax evasion but that it goes too far.

“It is anti-competitive and will prevent legitimate individuals utilising the services of legitimate financial services,” he said.

There is, Platt said, suspicion that the Bill is not in fact motivated by a desire to stamp out the abuse of offshore financial services but by a need for the US to begin to exercise control over large pools of development capital.

“There again it could be a mere coincidence that the Bill has gathered momentum as the US economy has bombed and Main Street holds more sway than Wall Street,” he concluded.

caribbeannetnews

October 27, 2008

October 27, 2008 | 8:45 AM Comments  0 comments



Obama helps people of mixed race find identity
Related to country: United States

Translations available in: English (original) | French | Spanish | Italian | German | Portuguese | Swedish | Russian | Dutch | Arabic

By: Amber Mobley:




Hundreds of years back, they were classified as "mulatto". Half black. Half white ... and usually the result of a slave master's marital indiscretions.

These days, biracial people are finding themselves with a new kind of identity, thanks to presidential nominee Barack Obama and his mixed-race heritage. Yeah, folks tend to forget that the "first black presidential nominee" has a white mother and an African father.

"We prefer the term 'Barackian' now," said Matt Murchison, 29, of Tampa, Fla. "That's a joke that I sometimes make, but the joke underscores the difficulty that biracial individuals often have establishing an identity in U.S. society."

Until the most recent Census, people of mixed race, like Obama, were classified as "other." Data from that Census shows that while a relatively small number of people identified themselves with two or more races, most of the people who did were young — between the ages of 5 and 17. Today, eight years later, many of them are old enough not only to follow Obama's campaign, but to vote in this year's presidential election.

"I know my friends who have black and white parents take pride in (Obama's) success because it's taken some of the 'other' out of their 'otherness,'" said University of Southern California visiting professor Erna Smith. The "other" label on the Census always struck Smith as ironic, she said, "because genetically-speaking probably everyone is the other."

Struggling with labels

People of mixed race are often pressured to pick a race, Murchison said. "A lot of people encourage us to identify ourselves as black, but a lot of people discourage us from identifying either way. But they often don't realize that the decision to identify with a race is not entirely ours. I can say that I'm not black, but the cops who pulled me over and handcuffed and harassed me might disagree."

"Black" even though you're bi-racial? It's the ghosts of the centuries-old "one drop rule" which classified anyone with a single drop of African blood as a black person.

Obama encounters it every day on the campaign trail.

"Barack Obama can say that he's not black, but that would do little to diminish the racism that has been opposing him throughout the election," Murchison said. "From Fox News referring to his wife of 16 years as his 'baby's momma' ... to the Latino man in Tampa who told me to my face that he 'ain't votin' for no nigger.'"

Annette Gontarski of Brighton, Mich., the black mother of a bi-racial son knows that racism can be real for bi-racial people too. "I expect (my son) to prove that person wrong who believes that because he is a black man (although not 100%) he is not going to amount to anything," she said. "My son knows that he is watching history in the making and knows that he too can make history."

Jill Gilyard's eldest son, 19, will be voting for the first time this year. "He's really excited," said Gilyard of Los Angeles, the white mother of four sons of mixed race, ages 5, 8, 11 and 19. Her 8-year-old is so enthusiastic that he wrote a letter to Obama and addressed it to the White House. He called him "President Obama."

For Murchison, the prediction that the number of people of mixed race is expected to grow makes Obama's run for the White House even more meaningful.

"His presidency will serve as one of the strongest symbols of a new era for America, shedding light on the ever-increasing intermixing that makes this country a true 'melting pot' ... and I do think that he helps biracial children find an identity: as symbols of the future."


10/16/2008
theloop21

October 26, 2008 | 12:48 PM Comments  0 comments



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