Thursday, October 29, 2009

| Dodd wants rate freeze on credit cards

Dodd-wants-rate-freeze-on-credit-cards WASHINGTON - Senate Banking Committee Chairman Chris Dodd, who is fighting for his political survival, proposed Monday an immediate interest rate freeze on existing balances for the estimated 700 million credit cards in circulation.

The legislation is unlikely to go anywhere in the Senate, where business-minded Democrats would join Republicans in casting the measure as draconian and unnecessary.

Banks say that capping interest rates would cut their profits and force them to lend less money, which would reduce spending and worsen the economy.

Dodds proposal seemed aimed at reconnecting the Connecticut Democrat with voters, many of whom have questioned his close ties to big banks after he was tied to a sweetheart loan scandal. The Senate Ethics Committee cleared him of violating any rules, although his poll numbers remain shaky.

Spokeswoman Kirstin Brost said the bill was not a political maneuver and only reinforced Dodds views that more consumer protections were needed.

At a time when families are struggling to make ends meet, jacked-up rates can quickly create crushing debt, Dodd said in a statement. People need to be responsible with their money, but they shouldnt be taken to the cleaners by outrageous rates.

Congress has already passed legislation that puts new rules for credit card lenders into effect come mid-February. The law, signed by President Barack Obama in May, limits when and how banks hike rates. It does not set a cap on the amount of interest lenders can charge.

But many progressive Democrats, including Dodd, say that banks have been hiking rates ahead of the new rules. The House was expected to vote soon on legislation that would move up the enactment date to Dec. 1.

While that measure was expected to pass the House, its prospects in the Senate are dim. Banks are telling lawmakers that they need more time to implement the changes.

- | Dodd wants rate freeze on credit cards |

Wednesday, October 21, 2009

| With Windows 7 and new designs PCs looking better

With-Windows-7-and-new-designs,-PCs-looking-better With Windows 7 and new designs, PCs looking better - | With Windows 7 and new designs PCs looking better |

Tuesday, October 20, 2009

| Oil briefly above $80 as earnings beat forecasts

Oil-briefly-above-$80-as-earnings-beat-forecasts -Oil prices briefly rose above $80 a barrel Tuesday as better-than-expected U.S. corporate earnings boosted investor confidence and the dollar fell against other major currencies.
By midday in Europe, benchmark crude for November delivery was down 20 cents at $79.41 in electronic trading on the New York Mercantile Exchange. Earlier in the session, it rose as high as $80.05 a barrel before falling back. The contract rose $1.08 to settle at $79.61 on Monday.
Crude did a chin-up over $80 a barrel for the first time this year after Apple Inc. and Texas Instruments Inc. reported third quarter earnings Monday that beat analyst forecasts. Caterpillar Inc., Coca-Cola Co. and DuPont are scheduled to report later Tuesday.
Crude demand has remained sluggish this year as the global economy recovers from recession. With the U.S. Federal Reserve keeping interest rates at near zero percent, investors have flocked to stocks and commodities to make money.
This rally isnt based on fundamentals. Its about risk appetite, said Jonathan Kornafel, Asia director for market maker Hudson Capital Energy in Singapore. Money is looking for some kind of return.
Commodities like oil and gold are bought and sold in dollars, making them cheaper and more attractive to investors when the U.S. currency falls.
The euro rose to $1.4971 from $1.4944 late Monday in New York, while the British pound rose to $1.6419 from $1.6370. The dollar fell to 90.35 Japanese yen from 90.65 yen.
JBC Energy in Vienna said the break above $80 was in line with gains in equities and a dollar loss.
However, we see little support for the rally, which is now eight days old, and think that at some point OPEC spare capacity of about 6 million barrels and massive on- and offshore stocks — to mention just a few of the bearish items — will trigger a correction phase, JBC said in a report.
In other Nymex trading, heating oil was down 0.53 cent to $2.0469 a gallon. Gasoline for November delivery lost 1.01 cent to $1.9771 a gallon. Natural gas for November delivery jumped 6.8 cents to $4.903 per 1,000 cubic feet.
In London, Brent crude for December delivery fell 10 cents to $77.67 on the ICE Futures exchange.

Associated Press writer Alex Kennedy in Singapore contributed to this report. - | Oil briefly above $80 as earnings beat forecasts |

Saturday, October 10, 2009

| Fat in middle age can cut women’s lives short

Fat-in-middle-age-can-cut-women’s-lives-short LONDON - Being fat in middle age may slash womens chances of making it to their golden years in good health by almost 80 percent, a new study says.

American researchers observed more than 17,000 female nurses with an average age of 50 in the U.S. All of the women were healthy when the study began in 1976. Researchers then monitored the womens weight, along with other health changes, every two years until 2000.

For every one-point increase in their Body Mass Index, women had a 12 percent lower chance of surviving to age 70 in good health when compared to thin women. Researchers defined healthy survival as not only being free of chronic disease, but having enough mental and physical ability to perform daily tasks like grocery shopping, vacuuming or walking up a flight of stairs.

Experts consider people with a BMI between 19-25 to be healthy, while those from 25 to 30 are considered overweight and those over 30 are obese.

For every 1 kilogram gained since age 18, womens odds of surviving past 70 dropped 5 percent, researchers found. Women who were already overweight at age 18 and then gained more than 10 kilograms later in life only had about a 20 percent chance of surviving to age 70 in good health. The most commonly reported diseases were cancer, heart disease, and diabetes.

‘Small weight gains not innocuous’
The study was published online Wednesday in the medical journal, BMJ. It was paid for by the U.S. National Institutes of Health and the Boston Obesity Nutrition Research Center.

People may think they can safely gain weight through their 20s, 30s and 40s, but there is no evidence that gaining weight is natural, said Aviva Must, professor and chair of the public health and community medicine department at Tufts University School of Medicine. Must was not linked to the study. These results suggest that small weight gains are not innocuous, she said.

A British study published earlier this year found people with a BMI from 30 to 35 die about three years earlier than normal while those who were morbidly fat, with a BMI above 40, die about a decade earlier.

Other studies have found similar trends in men. Qi Sun, a research associate at Harvard University and one of the study authors, said men were probably equally at risk, since fat acts largely the same way in both genders.

Experts said the findings underlined the importance of preventing obesity in the first place.

If you are on the obesity track early in life, it could get very dangerous by the time you are middle-aged, said Stephan Rossner, an obesity expert at Karolinska University Hospital in Stockholm. He said it was uncertain if people could regain the health benefits of being thin if they lost weight later in life.

While average life spans have increased in recent years with scientific advances in treating illness, experts warned the obesity epidemic could ultimately undo those gains.

We know were extending life span, but we dont know if were extending healthy survival, Must said. If one is going to spend the last three decades of ones life with compromised physical and mental function, that may not be the picture of aging we have when we think of living into our 90s.

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Legal © 2009 MSNBC.com - | Fat in middle age can cut women’s lives short |

Friday, October 9, 2009

| Persistence helps diver find wife’s lost ring

Persistence-helps-diver-find-wife’s-lost-ring WELLINGTON, New Zealand - A New Zealand man who promised his wife he would find his wedding ring after it fell into the capitals murky harbor has succeeded — 16 months later.

Ecologist Aleki Taumoepeau was checking Wellington harbor for invasive plant species in March last year when the ring went into 10 feet of water.

It flew off into the air and everyone on the boat was looking at it and said it was like a scene from Lord of the Rings in slow motion, Rachel Taumoepeau was quoted as saying in Thursdays Dominion Post newspaper.

He tossed an anchor overboard to mark the spot and pledged to Rachel, his wife of three months, that he would find it.

She offered to buy a replacement. I just said No, Ill find it, he said.

An initial search three months after the loss failed, but Taumoepeau was determined. He returned again recently for another dive, risking chill midwinter temperatures.

I was getting cold and tired, so I said to God, it would be really good to find the ring about now, he said.

He spotted the anchor — with the ring lying just inches away.

I couldnt believe that I could see the ring so perfectly, he said. The whole top surface of the ring was glowing in the normally murky waters.

Friends have taken to calling Taumoepeau Lord of the Ring.

- | Persistence helps diver find wife’s lost ring |

Tuesday, October 6, 2009

| Giada’s grilled fruit skewers

Giada’s-grilled-fruit-skewers Your grill can do so much more than cook burgers and hot dogs. Celebrity chef Giada De Laurentiis shows how adding heat to fruit can bring out natural sugars in creative summertime desserts like grilled fruit skewers and mangoes and raspberries in prosecco syrup.

Giadas grilled fruitGiada De Laurentiis - | Giada’s grilled fruit skewers |

| NYT: Obama’s looming Afghanistan decision

NYT:-Obama’s-looming-Afghanistan-decision Over the next few weeks, Barack Obama must make the most difficult decision of his presidency to date: whether or not to send up to 40,000 more troops to Afghanistan, as his commanding general there, Stanley McChrystal, has reportedly proposed.

This summer, Mr. Obama described the effort in Afghanistan as “a war of necessity.” In such a war, you do whatever you need to do to win. But now, as criticism mounts from those who argue that the war in Afghanistan cannot, in fact, be won with more troops and a better strategy, the President is having second thoughts.

A war of necessity is presumably one that is “fundamental to the defense of our people,” as Mr. Obama has said about Afghanistan. But if such a war is unwinnable, then perhaps you must reconsider your sense of its necessity and choose a more modest policy instead.

The conservative pundit George Will suggested as much in a recent column in which he argued for a reduced, rather than enhanced, American presence in Afghanistan. Mr. Will cited the testimony of George Kennan, the diplomat and scholar, to a Senate Foreign Relations Committee hearing on Vietnam in 1966: “Our country should not be asked, and should not ask of itself, to shoulder the main burden of determining the political realities in any other country. ... This is not only not our business, but I don’t think we can do it successfully.”

Mr. Kennan’s astringent counsel has become piercingly relevant today, as Americans discover, time and again, their inability to shape the world as they would wish. Indeed, George W. Bush’s tenure looks in retrospect like an inadvertent proof of the wisdom of restraint, for his ambitious policy to transform the Middle East through regime change and democracy promotion largely ended in failure. The irony is that Mr. Obama, who as a candidate reassured conservative critics that he had read and absorbed the wisdom of Reinhold Niebuhr, Mr. Kennan and other “realists,” is now himself accused of ignoring the limits of American power, like Mr. Bush or Lyndon Johnson, in his pursuit of victory in an unwinnable war.

The idea that American foreign policy must be founded upon a prudent recognition of the country’s capacities and limits, rather than its hopes and wishes, gained currency after World War II, possibly the last unequivocally necessary war in American history. At the war’s end, of course, the global pre-eminence of the United States was beyond question. But Mr. Kennan, Mr. Niebuhr, Hans Morgenthau and others tried to imbue their sometimes-grandiose fellow-citizens with a rueful awareness of the intransigence of things.

“The problems of this world are deeper, more involved, and more stubborn than many of us realize,” Mr. Kennan said in a 1949 speech to the Academy of Political Science. “It is imperative, therefore, that we economize with our limited resources and that we apply them where we feel that we will do the most good.”

The realists won that debate. Mr. Kennan argued that a policy of confrontation with Stalin’s Russia, advocated by the more fervent anti-Communists, would be neither effective nor necessary; the Soviets, rather, could be checked by “intelligent long-range policies” designed to counter — to contain — their ambitions. Of course he lost in Vietnam, where the nation-building dreams of a generation of cold war liberals came to grief. The neoconservatives who came to power with George W. Bush were just as dismissive of the cautionary sprit of realism as the liberals of an earlier generation had been, and thought of themselves as conservative heirs of the idealistic tradition of Woodrow Wilson.

Now, as Americans debate whether or not to double down in Afghanistan, it’s striking how opinion is divided not according to left and right, or hawk and dove, but rather by the difference between the Wilsonian “what we must do” and the Kennanite “what we can do.”

Stephen Holmes, a left-leaning law professor at New York University, recently wrote a critique of General McChrystal’s plan that almost exactly echoed Will/Kennan: “Turning an illegitimate government into a legitimate one is simply beyond the capacities of foreigners, however wealthy or militarily unmatched.”

Vice President Joseph R. Biden Jr., a hawkish Democrat, has reportedly urged the president to devote less of the country’s energies to Afghanistan in order to apply them where they will do the most good — Pakistan. On the other hand, advocates of the proposed new strategy, like Peter Bergen, an expert on Islamic terrorism, invoke America’s “obligation” to the Afghan people and the strategic catastrophe that would come of ceding the country to the Taliban. One side reasons from the means, the other from the ends.

In the real world, of course, the distinction between these two very different dispositions is a fluid one. After all, in a true war of necessity, like World War II, a state and a people summon the capacity to do what must be done, no matter how difficult. So the objective question at the heart of the current debate is whether the battle for Afghanistan represents such a war, or whether — like those for Vietnam or Iraq — the problem that it presents can be solved by less bloody and costly means.

Americans broadly agree that their government must at all costs prevent major attacks on American soil by Al Qaeda. But there the consensus ends, and their questions begin: Do we need to sustain the rickety Afghan government of President Hamid Karzai in order to achieve that objective? If so, will a combination of overwhelming military force and an accompanying civilian surge not only repel the Taliban but make Afghanistan self-sustaining over the long term?

The leaked McChrystal plan argues both that we must and that we can, and that a more modest effort “will likely result in failure.” Critics like the military analyst Andrew Bacevich insist, by contrast, that we cannot and that we need not — that Americans can contain the threat of jihad through such measures as enhanced homeland defense. Others have argued for a middle course involving a smaller troop increase and less nation-building.

George Kennan was right about the cold war. But the question now is whether “containment” is also the right metaphor for Afghanistan, and for the threat of Islamic extremism. Containment is a metaphor of geographical contiguity. Soviet ambitions could be checked here, conceded there. America’s adversary was not, Mr. Kennan insisted, a global force called Communism; it was Russia, an expansionist but conservative power. By that logic, the United States could lose in Vietnam with no lasting harm to itself.

But Al Qaeda, and jihadism generally, is a global force that seeks control of territory chiefly as a means to carry out its global strategy. It has no borders at which to be checked; its success or failure is measured in ideological rather than territorial terms — like Communism without Russia. Mr. Kennan often suggested that America’s own example of democratic prosperity was one of its most powerful weapons during the cold war; and plainly that is so today as well. That is one weapon with which the threat of Islamic extremism must be challenged; but it is only one.

The question boils down to this: How grave a price would Americans pay if Afghanistan were lost to the Taliban? Would this be a disaster, or merely, as with Vietnam, a terrible misfortune for which the United States could compensate through a contemporary version of Mr. Kennan’s “intelligent long-range policies”? If the latter, then how can Americans justify the immense cost in money and manpower, and the inevitable loss of life, attendant upon General McChrystal’s plan? How can they gamble so much on the corrupt, enfeebled and barely legitimate government of President Karzai? Why insist on seeking to do that which in all probability can not be done?

But what if it’s the former? What if the fall of Kabul would constitute not only an American abandonment of the Afghan people, but a major strategic and psychological triumph for Al Qaeda, and a recruiting tool of unparalleled value? Then the Kennanite calculus would no longer apply, and the fact that nobody can be completely confident that General McChrystal’s counterinsurgency strategy will work would not be reason enough to forsake it.

In that case — and perhaps only in that case — Afghanistan really would be a war of necessity.

This article, The Distance Between ‘We Must’ and ‘We Can’, first appeared in The New York Times.

More on: Afghanistan

- | NYT: Obama’s looming Afghanistan decision |