Barak Obama: A Dream Come True or A Nightmare in Waiting!

November 4 2008, A day that will be in our memories for years to come. You need not be an American to be jubilant that day, for the first time in history a Black man will hold the position of The President of The United States of America. 40 years ago a Black couldn't vote and now some one from the same community hold the No 1 position in what is mentioned as the most powerful office in the world. From Tokyo to Kuala Lampur, From Nairobi to California there were cheers every where for after an agonizing eight year term by George W. Bush, Some one different had to come to sweep the mess he had created.

A time when America is entangled in two wars, Facing the worst Financial Crisis since the Great Depression, and standing on the verge of an economic collapse. Some one of Obamas Ideology and Intellect seemed to be the way out for many but is that true lets think again.
Barak Obama announced the position of The Chief of Staff, The No 2 most Influential position in the white house and to everyones surprise he chooses the name of Rahm Israel Emanuel. Emanuel is a die hard Pro Israel lobbyist whose father served in the Irgun, a terrorist organisation in the former British Mandate of Palestine which was involved in countless murders and attrocities. It is to be seen that what kind of a foreign policy will Obama follow with people who are similar to those surrounding George W. Bush with in his Administration. With Iran being targetted by Israel a Pro- Israel lobby may push for Military action against Iran creating a new phase of turmoil in the already burning Middle East. Let us hope for the Best and lets not rejoice as of yet as the time ahead is pretty bleak.

The Other Side of Faina

Faina, the name of a Ukrainian Vessel crammed with 30 million $ worth of heavy weapons including rocket launchers, assault rifles, loads of ammunition and even Russian built t-72 tanks hijacked off the coast of Somalia and grabbing the attention of the International Press. The coastal waters of Somalia have been a safe haven for pirates for a very long time now but only the case of a high profile weapons carrier has opened the eyes of the world.

What I don't understand is that why doesn't the International Media see the other side of the coin i.e, why is such a large consignment of weapons being sent to a war ravaged continent in the first place. For centuries the west has exploited Africa as a means of earning profit and It was Imperialism that routed the conflicts that you see till date in the continent. Most of the African states were mapped on paper by former Imperialistic Governments, that's why if you see the map of Africa the borders between states seem to be drawn with a scale and a pencil.

Kalashnikov's are primarily used by the fighting fractions in Africa and these are usually manufactured in the Commonwealth of Independent States, or the states which were formerly part of the Soviet Union. These weapons are used by fighting forces on both sides which means that it is a clear example of hegemony for profit with no care for human life. Ships like the Faina carry a very common good to Africa, It's been done so for decades and will go on until the world media speaks in contrary to it.

Russian warships have surrounded the vessel and the hijackers have demanded a humongous ransom, It is to be seen how the story unfolds but what ever may be the outcome of the crisis, no one ever cares for the blood of the black man.

HEBRON: A Ghost Town.....

Hebron, does it ring any bells!! I guess not because mainstream media does not usually mention the story of Hebron. It's a policy of stay mum and let the world burn, I have been following the situation in Hebron for the past year and what I see and read makes me to write this story.

Hebron is a city in the centre of occupied West Bank. It is famous as the final resting place of Prophet Abraham(PBUH), at the Ibrahimi Mosque or Sanctuary of Abraham or the The Cave of the Patriarchs as it is known in Islam, Judaism and Christianity. Israel Occupied the West Bank town in the six day war of 1967 and a constant and relentless settlement campaign continued. It is the only city in the Occupied West Bank where Jewish Settlers and Palestinian Residents live in close proximity to each other creating a very tense and violent environment.

There are an estimated 170,000 Palestinian Residents and 700-800 Illegal Jewish Settlers living in Hebron. The IDF or the Israeli Defence Forces maintains a huge military presence in Hebron to provide security to the settlers and has in fact created an Environment where it is Impossible for Palestinians to carry out their lively hood and go ahead with their every day lives.

The IDF closed most of the Old City market to provide a buffer zone for the Jewish settlers residing beside the market. The Old City Market provided lively hood to hundreds of Palestinian families for decades and was present there for hundreds of years but now it feels like a ghost town. Red paint spots are the only sign of the IDF wanting the evacuation and closure of the shops that once would have been in full business.




If that was not enough the Palestinian Families living close to the settlements have all been forced to leave their ancestral homes with brutal force, these houses once vacated are usually ransacked and systematically make inhospitable by the Jewish Settlers in plain sight of the IDF which claims it does not have jurisdiction to arrest Israeli Citizens. Palestinian School girls are usually harassed on their way to school and the settlers maintain an armed presence with flaunting assault rifles while they walk the city. Jewish Settlers usually abuse the Palestinian residents both verbally and physically trying to make them leave the city permanently.

Perhaps Hebron will be remembered for the day of On February 25, 1994 when Baruch Goldstein, an Israeli physician and resident of Kiryat Arba, opened fire on Muslims at prayer in the Ibrahimi Mosque , killing 29, before the survivors overcame and killed him.

The Temporary International Presence in Hebron was established to make life worth living for the Palestinian Residents but even they come under constant settler attacks whose leader claims that the violent attacks will stop if the Palestinians stop their demands for a Palestinian State. This is a regretful situation where people have to live so miserable lives for the sake of a few hundred people trying to assert their presence.

The Global Financial Meltdown!

The Sub Prime Mortgage Sector Crisis in the U.S created a credit vacuum across the world that sucked down all major American Investment Banks, Lending houses and Mortgage agencies. The Black Hole that erupted in America also Impacted on the Global Financial Institutions from Europe to Asia to Australia.
But come September 2008 and things went from bad to worse.....

The Collapse of the American Financial Giants Bear Sterns and Merrill Lynch was still ripe and another huge American Savings and loaning giant Washington Mutual is closed down, the American International Group or AIG as it is known world wide is saved by the U.S Federal Reserve by a life line of 85 billion $. It is widely seen as a policy to save the face of American Capitalism from International Shame.

Lehman Brothers collapse in this month is widely seen as the worst instance of an American Bank going Bankrupt, It was shred down and sold off to the best buyers. Bain Capital LLC and Hellman & Friedman LLC agreed to buy most of the asset-management units of Lehman Brothers for 2.15 billion $, London-based Barclays purchased the rest of Lehman's North American investment-banking business. Asian Banks are largely taking the lead in buying out the crippled American Financial Institutions shattering the American dominance on a once colossus empire.

The American government tries to pass a 700 billion $ financial bail out plan which most experts see as something that will just slow down the risk of a systematic collapse but does not cure the disease, The plan is rejected by the U.S congress putting more strain on a already wobbling economy. Public view of the plan was more than unfriendly as people believed it would result in higher taxes.
Wall Street faces the biggest brunt with it seeing the worst financial crisis since the Great Depression of the 1930's.
Stocks are collapsing by the hundreds and the fire is not contained as Stock Market across the globe are still in red and trillions of dollars are wiped off in minutes.

European Central Banks are on a contingency plan where by large sums of money are pumped into their economies to bail out or save ailing banks and lending firms.

-British Govt. announces nationalization of Bradford and Bingley, selling off its savings business to a Spanish bank.
-Fortis is rescued by Belgian, Dutch and Luxembourg Governments with 16 billion $.
-Iceland Govt. buys a 75% stake in a leading bank Glitnir for 860 million $.
-Japanese Central Bank Injects 17.8 billion $ into the economy to slow the effect of the crunch.

To help you understand how all this started as a Commerce student I will try to explain the issue in my own words in a few sentences.
America follows a system of credit rating where in each and every individual has a specific credit worthiness. Those with low credit worthiness or a are not very firm financially are also given loans, these loans are known as Sub Prime loans.

Now During the previous housing boom in America large amounts of loans were given in the sub prime category. Keeping in mind that Sub Prime Mortgage bears a higher risk American banks get these risks reduced by either transferring the risk on payment of Interest or getting the risk insured by other banks. Now when the Mortgages finally collapsed and there were no means to recover the bad debts the American Banks fell because of the huge nature of so many debts coming around at one single time. Now when the American banks fell they took with them the banks that had shared the risk or had insured it with them, creating a Global Crisis.

The Federal Reserve of The United States of America is highly to be blamed for the chaos as although it is not a regulatory authority when it comes to Investments Bank in the country, It still could have taken concise decisions when the clouds of an credit collapse where in the sky. It is Important we see how the things turn out in the future as it has a major Impact on the lives of millions of people worldwide and I will surely keep my readers updated of how this Crisis takes shape in the days to come.

IRAQ: A Stalemate!!

March 20,2003
The day it all began, It's still fresh in my memory. George W. Bush coming on International television announcing the deadline for Saddam Hussein and his sons to leave Iraq, Then the hostilities begin with pictures all over CNN of the Shock and Awe Initiate the U.S forces undertook. The constant streams of Iraqi Information Minister Mohammed Saeed al-Sahhaf In defiance of the Invasion in his daily press meets.
It all came to an end with the fall of the Saddam statue in Baghdad on April 9..........Well Everyone thought it did!!!

What followed was horrific, unexplainable, heart breaking and pathetic. Iraq started to Burn in a way it never did for it's entire history, The Iraqis looked at the Americans like occupiers which was quite contrary to what the Americans had in mind. Blood spilled like water all over Iraq with casualties on both sides. The Public favor for the war in the U.S lost it's charm, This was a repeat of the situation in Vietnam.
George W. Bush could never prove the W.M.D's he so eagerly wanted to take away from Saddam controlled Iraq, putting a permanent stain on that crisp suit of his. America had gone into a war with no reason, The Neo-Con's had to take the responsibility of the over one million Iraqi civilian lives lost due to their Illogical stance on turning a flourishing country into Garbage.

The War in Iraq changed the Global landscape forever the Arabs never could trust America again. Global Oil Prices Quadrupled and no one was ready to take them down. Inflation became rampant and a financial crisis in the U.S took the light away from the blood shed in Iraq. A Global food shortage erupted because of high demand from countries like India and China, also keeping in mind American farmers diverting their crops for production of Bio Fuels further adding to the sky rocketing prices. Today we still stand in a situation of ridicule, blood shed and hatred across all sides.
Iraq still burns to date and an American Presidential Election gives hope to the countless Iraqi civilians who still fear to take a stroll to the park or just shop for some basic amenities, It gives hope to the countless American Families who fear for their loved ones stationed in Iraq. Both sides have suffered because of an Ignorant administration, hope this time the American people act more logically and choose a President worthy of putting an end to all this chaos.