Canadian Troops To Patrol US Cities As Food Riots Feared

Russian Military Analysts are reporting in the Kremlin today that the United States has, for the first time in its history, granted rights to a Foreign Army to have ‘full power’ over the life and death of American Citizens in their own country. their own country.

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Read moreCanadian Troops To Patrol US Cities As Food Riots Feared

Rising Inflation Creates Unease in Middle East

AMMAN, Jordan – Even as it enriches Arab rulers, the recent oil-price boom is helping to fuel an extraordinary rise in the cost of food and other basic goods that is squeezing this region’s middle class and setting off strikes, demonstrations and occasional riots from Morocco to the Persian Gulf.

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The cost of many basic foods, like at this market in Amman, has doubled. Some in the middle class are tilting toward poverty

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High food prices may force aid rationing

“The United Nation’s agency responsible for relieving hunger is drawing up plans to ration food aid in response to the spiralling cost of agricultural commodities”….

“The WFP crisis talks come as the body sees the emergence of a “new area of hunger” in developing countries where even middle-class, urban people are being “priced out of the food market” because of rising food prices.”…

“The price of rice and wheat has doubled in the past year while freight costs have also increased sharply on the back of rising fuel prices.”…

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Food fear beats climate change

A WORSENING global food shortage is a problem far more urgent than climate change, top Australian scientists have warned.
The Australian Science Media Centre briefing heard why prices for some staple foods had risen by as much as 60 per cent in the past year, and how dramatic price rises are expected to sweep across all staples in the near future.

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Tens of thousands camp out after Indonesian quake: official

JAKARTA, Feb 21, 2008 (AFP) – Tens of thousands of people camped outside their homes on the Indonesian island of Simeulue after a 7.5-magnitude quake that killed three, an official said Thursday.

The quake hit just off the remote island located near Sumatra on Wednesday, triggering panic across the region lashed by the earthquake-triggered 2004 Indian Ocean tsunami, which killed 168,000 people in Indonesia.

Read moreTens of thousands camp out after Indonesian quake: official

A ‘Moral Hazard’ for a Housing Bailout: Sorting the Victims From Those Who Volunteered

WASHINGTON – Over the last two decades, few industries have lobbied more ferociously or effectively than banks to get the government out of its business and to obtain freer rein for “financial innovation.”

But as losses from bad mortgages and mortgage-backed securities climb past $200 billion, talk among banking executives for an epic government rescue plan is suddenly coming into fashion.

A confidential proposal that Bank of America circulated to members of Congress this month provides a stunning glimpse of how quickly the industry has reversed its laissez-faire disdain for second-guessing by the government – now that it is in trouble.

The proposal warns that up to $739 billion in mortgages are at “moderate to high risk” of defaulting over the next five years and that millions of families could lose their homes.

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As China’s inflation soars, world fears knock-on effects

Inflation from the factory floor up is soaring in China.

As China’s factory floors feel the pressure from spiralling costs, there is growing nervousness in the rest of the world that the Asian giant’s next big export could be inflation.

From air-conditioned US shopping malls to bustling African street markets and remote Asian villages, shoppers have become accustomed over recent years to the vast array of ultra-cheap Chinese goods on offer.

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China’s trade surplus last year reached 262.2 billion dollars, a more than 10-fold rise from 2003.

But now a confluence of factors, led by soaring domestic inflation that hit an 11-year high of 7.1 percent in January, is ramping up the costs of doing business in China, with potential knock-on effects for the rest of the world.

Read moreAs China’s inflation soars, world fears knock-on effects

Russia quietly prepares to switch some oil trading from dollars to rubles

MOSCOW: Russia, the world’s second-largest oil-exporting nation after Saudi Arabia, has been quietly preparing to switch trading in Russian Ural Blend oil, the country’s primary export, from the dollar to the ruble. But the change, if it comes, is still some time off, industry analysts and officials said.

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“The role of the key reserve currencies is under review,” said Dmitry Medvedev, the likely successor to President Vladimir Putin, “And we must take advantage of it.”

Read moreRussia quietly prepares to switch some oil trading from dollars to rubles