June 1st, 2012
UK Daily Mail
By Hugo Duncan
The head of the World Bank yesterday warned that financial markets face a rerun of the Great Panic of 2008.
On the bleakest day for the global economy this year, Robert Zoellick said crisis-torn Europe was heading for the ‘danger zone’.
Mr Zoellick, who stands down at the end of the month after five years in charge of the watchdog, said it was ‘far from clear that eurozone leaders have steeled themselves’ for the looming catastrophe amid fears of a Greek exit from the single currency and meltdown in Spain.
The flow of money into so-called ‘safe havens’ such as UK, German and US government debt turned into a stampede yesterday.
In Berlin the two-year government bond yield fell below zero for the first time, with the bizarre result that jittery international investors are now paying – rather than being paid – for lending to Germany.
There was a raft of dismal economic news from around the world, with manufacturing output falling in Britain and Europe, unemployment jumping in the eurozone and America, and fast-emerging economies such as Brazil and China showing signs of running out of steam.
The FTSE 100 index fell 60.67 points to a new 2012 low of 5260.19 in London and the pound tumbled against the US dollar to $1.5234 – a level not seen since January.
The Dow Jones Industrial Average shed more than 200 points in New York, wiping out all its gains this year.
Borrowing costs in Spain and Italy have soared back above 6 per cent towards the 7 per cent level that triggered bailouts in Greece, Ireland and Portugal.
Mr Zoellick warned that the coming months could be as bad as the collapse of US investment bank Lehman Brothers in 2008.
Plunging: The Dow Jones (left) opened down this morning and the FTSE 100 (right) hit a year-long dip today
Desperate: European leaders scrambled to stop the financial crisis in Spain spiralling out of control and infecting other countries such as Italy
He said: ‘Events in Greece could trigger financial fright in Spain, Italy and across the eurozone. The summer of 2012 offers an eerie echo of 2008.
‘If Greece leaves the eurozone, the contagion is impossible to predict, just as Lehman had unexpected consequences.’
Fears are mounting that Spain will be crippled by its banking sector and will be the next domino to fall.
Mr Zoellick said: ‘Eurozone leaders need to be prepared to recapitalise banks. In the eurozone, the guarantees of some national sovereigns are unlikely to be sufficient and only that of the “euro-sovereign” will suffice.
‘It is far from clear that eurozone leaders have steeled themselves for this step. Eurozone leaders need to be ready.
'There will not be time for meetings of finance ministers to discuss the outlook and debate the politics.
'In panicked markets, investors flee to safe assets, sparking other flames.’
Yesterday investors scrambling for lifelines piled into German, US and UK government debt.
Not only did the German two-year bond yield fall below zero for the first time, but also the yield on ten-year UK gilts – the benchmark borrowing cost for the British Government – hit a record low of 1.44 per cent.
The yield on the equivalent US treasuries fell to 1.46 per cent – the lowest in over 200 years of records.
‘People’s objective is the return of their capital, not the return they get on their capital,’ said Sam Hill, a strategist at Royal Bank of Canada.
÷ Ireland has accepted tough new budget controls, as stipulated under the European fiscal treaty, in a referendum which saw 60 per cent of voters backing the deal.
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June 1st, 2012
OakdalePatch / By Lisa Furgison
CR NOTE: TALK, TALK, TALK...Meaningless from the mouth of Obama...don't listen to what he says...watch what he DOES (or, in this case, DOES NOT do).
President Barack Obama wants to create job opportunities for veterans. He spoke to a crowd of people Friday on the factory floor of Honeywell in Golden Valley.
Obama urged Congress to pass legislation that would create a Veterans Job Corp, an initiative that would help veterans find jobs as police officers and firefighters, and in other service rolls.
“I believe that no one that fights for this country should have to fight for a job when they return home,” Obama said. “Men and women that have served in the military have incredible skills that any company could benefit from.”
According to the United States Department of Labor, the unemployment rate for veterans who served on active duty in the U.S. Armed Forces at any time since September 2001 is about 12 percent, compared to the national unemployment rate, which hovers around 8 percent.
“If we are going to serve our veterans as they have served us, we must get to work on this,” Obama said. “We must deliver for our veterans.”
The President applauded the efforts of Honeywell, a company that set out to hire 500 veterans last year.
“Last year when the White House launched the Joining Forces initiative to encourage companies to hire veterans, we decided to step up to the challenge,” Honeywell Spokesperson Bruce Anderson said. The company exceeded its goal, Honeywell now employees 600 veterans, 65 of which work at the campus on Douglas Drive.
“We know that members of the military have transferable skills and we have seen that first hand at Honeywell,” Anderson said. “Our veterans have tremendous work ethic, leadership skills, an understanding of business efficiency and many of them have specialized skills that we put to good use here.”
A crowd of veterans from Honeywell sat behind the President as he spoke. American Legion Department Commander Curt Kruger said he was thrilled to see attention brought to such an important issue.
“Having a job is part of reintegrating back into normal life,” Kruger said. “This has been a problem for sometime and I think any effort that helps veterans find work is a good one.”
Golden Valley Mayor Shep Harris hopes other companies will follow the example set by Honeywell.
"As more US soldiers return home from overseas action, our national commitment to providing economic stability for our veterans and their families must remain strong," Harris said. "I applaud Honeywell for its pledge to honor our troops through job skills training and employment, and I encourage other corporations to do the same."
In his 30-minute speech Obama urged Congress to work together on this initiative, telling lawmakers that the issues facing veterans shouldn’t be a political game.
After Obama’s stop in Golden Valley, he was off to a fundraiser at Bachelor Farmer, a Minneapolis restaurant owned by Governor Mark Dayton’s sons.
Related Topics: President Obama
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June 1st, 2012
The Huffington Post / By SARAH BRUMFIELD
CR NOTE: The second recent instance...there is a third I have been notified of...what in the world is going on?!
JOPPATOWNE, Maryland (AP) — The Kenyan college student suspected of killing and eating parts of a man staying at his home ranted months ago about "mass human sacrifices" on Facebook, one of several details that emerged Friday in the second gruesome case of alleged cannibalism in the U.S. in a week.
Authorities say Alex Kinyua, 21, admitted using a knife to kill and carve up Kujoe Bonsafo Agyei-Kodie, 37, before eating his heart and parts of his brain. The older man had been staying with Kinyua's family for about six weeks at their townhouse in the Baltimore suburb of Joppatowne.
Both the victim and his alleged killer had attended nearby Morgan State University, a historically black university in Baltimore. Kinyua had just finished his junior year, and Agyei-Kodie was a graduate student who last attended classes in 2008. Both men were also originally from Africa; Kinyua was from Kenya and Agyei-Kodie from Ghana.
Investigators haven't given a possible motive in the slaying. In a separate case on May 19, police said Kinyua beat a man with a baseball bat on Morgan State's campus, fracturing his skull and making him lose sight in one eye. Kinyua was free on $220,000 bail in that case. He is now being held without bond on a murder charge.
In February, Kinyua posted a question on Facebook, asking fellow students at historically black colleges and universities if they were "strong enough to endure ritual HBCU mass human sacrifices around the country and still be able to function as human beings?"
He referred to the tragic shootings at Virginia Tech and "other past university killings around the country" and warned "ethnic cleansing is the policy, strategy and tactics that will affect you, directly or indirectly in the coming months."
Kinyua wrote on his page that he attended Morgan State and was a member of an ROTC-affiliated military honor society at the university, the National Society of Pershing Rifles. ROTC is a college-based U.S. military program that allows students to be commissioned as officers when they graduate. The page was linked to an Internet radio show called Warrior Syndicate Radio, which displayed a photo of Kinyua in green-and-white facepaint.
Lt. Col. James Lewis, a professor of military science at Morgan State and the head of the ROTC program, said Friday that Kinyua participated in ROTC for 2½ years but was "disenrolled" in January. He could not say why.
James Holt, a friend of the victim for about 10 years, told The Associated Press that Agyei-Kodie had met Antony Kinyua, the father of his alleged killer, while pursuing a doctoral degree. Antony Kinyua is a physics lecturer at Morgan State.
A spokeswoman for U.S. Immigration and Customs Enforcement said Agyei-Kodi came to the United States on a student visa but was not in compliance with the visa's terms. He was ordered removed from the country by an immigration judge in 2010 and was under ICE's supervision pending removal to Ghana. The agency had been waiting for documents from Ghana before returning him to the country.
Holt said the Kinyua family took in Agyei-Kodi when he hadn't worked for three years and was trying to re-establish his life.
" ... Dr. Kinyua was extremely kind in taking Kujoe into his house while Kujoe got his feet back under him." Holt said. "And I think Kujoe was on his way to re-establishing his educational status and completing his Ph.D. when this happened."
Authorities went to the Kinyua home Tuesday after Kinyua's brother found what he thought were human remains in two metal tins in the family's basement. Investigators found what they believe are Agyei-Kodie's head and hands. More remains were found outside a church about a mile (1.6 kilometer) away.
A woman who answered the door at the family's townhouse Friday morning said the family would not be commenting.
The Maryland attack came a few days after another alleged instance of cannibalism in Miami where a man in Miami chewed away another man's face along a busy highway and wouldn't stop until an officer shot him to death. Witnesses say 31-year-old Rudy Eugene growled at the officer and continued to chew. The victim, identified as 65-year-old Ronald Poppo, a homeless man who lived under the causeway, was in critical condition and will be permanently disfigured.
Associated Press photographer Patrick Semansky in Bel Air, Maryland, and reporters Alex Dominguez in Baltimore and Jessica Gresko in Washington contributed to this report.
June 1st, 2012
The Center for Consumer Freedom is fighting back against York City Mayor Michael Bloomberg’s proposal, announced Thursday, to ban sugar-sweetened drinks more than 16 ounces in size from restaurants, movie theaters and a variety of other venues in the city.
The restaurant trade group says that tomorrow’s New York Times will contain a full-page ad from the CCF headlined “The Nanny: You only thought you lived in the land of the free.” It features an image of the mayor wearing nanny-like garb (i.e. a frumpy pale blue dress suit and matching pastel scarf), his arms stretched out protectively to clasp you.
He is standing, Godzilla-like, above the New York City skyline.
“New Yorkers need a Mayor, not a Nanny,” the ad concludes. Take a look at it.
“We can only ask what savories are next in line for Bloomberg’s ban-hammer," the CCF said Thursday in a statement. "Will the Nanny-in-chief ration cream cheese? Will he unilaterally halve the size of a New York pizza slice? Will the pastrami sandwich go the way of the dodo? Will the foot-long hot dog lose its foot? This precedent could put all those on the table, and we’d hate to see what that could do to the city’s vibrant food heritage and consumer freedom.”
“We’re not taking away your freedoms,” Mayor Bloomberg said Friday on The Today Show, likening the move to anti-smoking city ordinances that have helped cut smoking rates.
You can always buy two 16-ounce sodas if you want, he said, but chances are you won’t because studies show that people who are presented with smaller portions consume less.
The move, he said, is “not exactly taking away your freedoms. It’s not something the Founding Fathers fought for.”
June 1st, 2012
Days after being named teacher of the year at Colleyville Middle School, band director John McDaniel was arrested on accusations that he sexted with a 15-year old-student.
McDaniel, 32, is charged with online solicitation of a minor, a third-degree felony, and improper relationship between educator and student, a second-degree felony.
When he was brought in for questioning, McDaniel, confessed to exchanging nude photos with a girl who was in his class last year, Grapevine police said.
“The information we have is that there was some sexting going on, by way of the cellphone and some explicit emails,” Sgt. Robert Eberling said.
According to the arrest affidavit, McDaniel and the girl began chatting on Facebook two years ago. The victim told investigators that McDaniel told her she was pretty and wondered what she looked like naked. The affidavit goes on to say that she shared topless photos with him and he responded with a photo of his genitals.
The victim's brother discovered one of the emails over the weekend, according to the affidavit.
“When you send your child to school, you hope they are placed in a safe stable environment," Eberling said. "It’s unfortunate that this happens."
No one answered the door at the north Fort Worth home McDaniel shares with his wife.
He is out of jail on a $10,000 bond, although police said he could be arrested again if they find other victims.
“Unfortunately, when you are dealing these type of offenses and the people that perpetrate these offenses, generally there are other victims,” Eberling said.
McDaniel has been placed on administrative leave. He has served as head band director at Colleyville Middle School since July 2009.
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“If the police investigation substantiates the allegations, the district will immediately proceed with termination procedures," the Grapevine-Colleyville Independent School District said a in statement.
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