Jared Lee Loughner, the man suspected of shooting 20 people Saturday, including a U.S congresswoman, made his first appearance in federal district court here Monday afternoon but said nothing that would reveal his possible motives.
In a brief hearing before Magistrate Judge Lawrence O. Anderson, the 22-year-old Mr. Loughner, accompanied by federal public defender Judy Clarke, spoke clearly and deliberately when addressed by the judge.
With a closely shaved head, Mr. Loughner entered the courtroom shackled at the waist wearing a dark beige jail jumpsuit. A U.S. Marshal stood nearby the defendant during the roughly 15 minute hearing.
Mr. Loughner said he was unable to afford an attorney and the judge appointed two federal public defenders to represent him. Both attorneys, Ms. Clarke and Mark Fleming, are based in California. Frequently, Ms. Clarke placed a hand on Mr. Loughner's left shoulder to appear to steady or comfort him. But he remained composed.
The defendant also waived his right to a detention hearing and the judge declared him a 'danger to the community' and ordered him to be held in custody indefinitely.
Mr. Loughner was subdued by attendees of a constituent event held Saturday by U.S. Rep. Gabrielle Giffords, the apparent target of the shooter, at a Tucson Safeway supermarket. Ms. Giffords was shot in the head but doctors have said she is expected to survive. Six people died and 13 others, in addition to Ms. Giffords, were wounded.
Judge Lawrence ordered a preliminary hearing for Jan. 24 and it's likely that this will be the last federal judge from Arizona to preside over a legal hearing for Mr. Loughner. The defense team indicated it might file a motion to have the entire case reassigned to a U.S. Attorney office outside the state.
Earlier Monday, President Barack Obama led the U.S. in a moment of silence, gathering with White House staff on the South Lawn to honor the victims of the shooting.
About 300 members of the White House staff, including Mr. Obama's top aides, were gathered on either side of the South Lawn.
The moment was also observed on Capitol Hill, where congressional staff members gathered on the steps of the East Front of the Capitol Building, with heads bowed and hands clasped in front of them. Most lawmakers were home in their districts.
Ms. Giffords continues to respond to simple commands and shows no evidence of additional brain swelling, hopeful signs, doctors said Monday.
Doctors at the University Medical Center in Tucson said seven other victims were also doing better. Five patients remained in serious condition, while two were characterized as in good condition. Two other patients have been released.
Thursday, February 17, 2011
Tuesday, December 21, 2010
Where Do All the Ultra-Rich Live?
The myth of broad prosperity in the last decade related not only to individuals but also to geography.
Everyone seemed to be everywhere ─ richer providers of hedge funds in Connecticut to construction contractors in Arizona and Colorado mortgage brokers.
We now know, of course, that prosperity was only for a few. And we also know that the geography of wealth remains highly concentrated.
A new study of wealth-X, the research firm wealth, shows that more than half of all people in the U.S. with $ 30 million in investable assets ─ live in five states California, New York, Texas, Florida and Illinois.
About a third live in California and New York alone.
Not surprisingly, of course, that many ultra-rich live in larger states. That's what you expect.
And Matthew Miller, head of research at wealth-X, said that although the Big Five dominate the ultra-rich list, the data also shows a surprising number of ultra-rich people living in the smaller and less visible .
He noted that aside from Alaska, Delaware, North Dakota and Maine, all states have at least 100 people for $ 30 million or more.
"Actually, there are pockets of wealth in states that most people usually do not think," he said.
Point well taken. But overall, the map of America's wealth is very similar to the national wealth and income distribution ─ pockets of great wealth, sitting on the mass of the rest of America.
It is also ironic that so many rich people who have not prevented many of the top wealth states fall into the budget crisis.
Do you think the map of U.S. wealthwill change over the next 10 years?
Everyone seemed to be everywhere ─ richer providers of hedge funds in Connecticut to construction contractors in Arizona and Colorado mortgage brokers.
We now know, of course, that prosperity was only for a few. And we also know that the geography of wealth remains highly concentrated.
A new study of wealth-X, the research firm wealth, shows that more than half of all people in the U.S. with $ 30 million in investable assets ─ live in five states California, New York, Texas, Florida and Illinois.
About a third live in California and New York alone.
Not surprisingly, of course, that many ultra-rich live in larger states. That's what you expect.
And Matthew Miller, head of research at wealth-X, said that although the Big Five dominate the ultra-rich list, the data also shows a surprising number of ultra-rich people living in the smaller and less visible .
He noted that aside from Alaska, Delaware, North Dakota and Maine, all states have at least 100 people for $ 30 million or more.
"Actually, there are pockets of wealth in states that most people usually do not think," he said.
Point well taken. But overall, the map of America's wealth is very similar to the national wealth and income distribution ─ pockets of great wealth, sitting on the mass of the rest of America.
It is also ironic that so many rich people who have not prevented many of the top wealth states fall into the budget crisis.
Do you think the map of U.S. wealthwill change over the next 10 years?
Monday, November 8, 2010
Rice: Israeli Settlements Have 'Negative Effect' on Peace Talks
America's top diplomat is in the Middle East trying to get the peace process back on track.
Israeli settlement expansion topped the agenda as Secretary of State Condoleezza Rice met separately with Israeli and Palestinian leaders. Rice used exceptionally harsh language to condemn Israel's announcement on Friday that it plans to build 1,300 new homes in disputed East Jerusalem, on land the Palestinians claim for their future capital.
"I do believe and the United States believes that the actions and the announcements that are taking place are indeed having a negative effect on the atmosphere for negotiation," said Condoleezza Rice. "And that is not what we want. We should be in a position of encouraging confidence, not undermining it."
Rice spoke at a news conference with Palestinian President Mahmoud Abbas in the West Bank town of Ramallah.
"We believe that settlement is the highest hurdle on the road of our political endeavors," said Mahmoud Abbas. "With the continued expansion and building of settlements the more tough the hurdle would become."
Despite the obstacles, Rice said both sides remain committed to the peace process.
"We are all devoted to and believe that it is possible to establish the agreement between the Palestinians and the Israelis for the establishment of a Palestinian state by the end of the year," said Mahmoud Abbas.
But that goal is in doubt because in addition to the settlements, gaps are wide on core issues like Palestinian refugees and the status of Jerusalem.
Israeli Prime Minister Ehud Olmert is also embroiled in a corruption scandal that could force him to step down. In the meantime, Mr. Olmert is widely seen as too weak to close a peace deal involving major territorial concessions to the Palestinians.
Israeli settlement expansion topped the agenda as Secretary of State Condoleezza Rice met separately with Israeli and Palestinian leaders. Rice used exceptionally harsh language to condemn Israel's announcement on Friday that it plans to build 1,300 new homes in disputed East Jerusalem, on land the Palestinians claim for their future capital.
"I do believe and the United States believes that the actions and the announcements that are taking place are indeed having a negative effect on the atmosphere for negotiation," said Condoleezza Rice. "And that is not what we want. We should be in a position of encouraging confidence, not undermining it."
Rice spoke at a news conference with Palestinian President Mahmoud Abbas in the West Bank town of Ramallah.
"We believe that settlement is the highest hurdle on the road of our political endeavors," said Mahmoud Abbas. "With the continued expansion and building of settlements the more tough the hurdle would become."
Israel says it has the right to build anywhere in Jerusalem because it will remain the capital of the Jewish state in any final peace agreement.
Despite the obstacles, Rice said both sides remain committed to the peace process.
"We are all devoted to and believe that it is possible to establish the agreement between the Palestinians and the Israelis for the establishment of a Palestinian state by the end of the year," said Mahmoud Abbas.
But that goal is in doubt because in addition to the settlements, gaps are wide on core issues like Palestinian refugees and the status of Jerusalem.
Israeli Prime Minister Ehud Olmert is also embroiled in a corruption scandal that could force him to step down. In the meantime, Mr. Olmert is widely seen as too weak to close a peace deal involving major territorial concessions to the Palestinians.
Sunday, November 7, 2010
Countdown Begins for U.S. Elections
Polls ahead of congressional and gubernatorial elections next week continue to show the Republican Party poised to make big gains.
A public opinion poll from the Gallup research organization indicates Republicans remain in position to seize control of the House of Representatives from Democrats, who now have majorities in both the House and Senate. Republicans need to gain 10 seats to win a majority in the Senate, but most analysts believe they will fall short.
Election activity has surged in the past few days with both major parties trying to motivate their supporters to vote.
U.S. President Barack Obama campaigned in the northeastern state of Rhode Island on Monday, while first lady Michelle Obama campaigned in the city of San Francisco with House Speaker Nancy Pelosi. The president will resume campaigning for Democratic candidates later in the week.
All 435 seats in the House of Representatives are at stake, plus 37 of the 100 U.S. Senate seats.
A public opinion poll from the Gallup research organization indicates Republicans remain in position to seize control of the House of Representatives from Democrats, who now have majorities in both the House and Senate. Republicans need to gain 10 seats to win a majority in the Senate, but most analysts believe they will fall short.
Election activity has surged in the past few days with both major parties trying to motivate their supporters to vote.
U.S. President Barack Obama campaigned in the northeastern state of Rhode Island on Monday, while first lady Michelle Obama campaigned in the city of San Francisco with House Speaker Nancy Pelosi. The president will resume campaigning for Democratic candidates later in the week.
All 435 seats in the House of Representatives are at stake, plus 37 of the 100 U.S. Senate seats.
Friday, November 5, 2010
Stocks in Hong Kong and Japan fell and the U.S. dollar rose a day after China raised interest rates for the first time since December 2007
Economists interpret the move as a sign that authorities are taking a more aggressive stance against inflation and bank lending.
Chinese borrowers will now have to pay at least 0.25 percentage points more interest on their loans. China's central bank increased the cost of borrowing late Tuesday, ahead of releasing inflation figures for September.
Higher inflation rate
Market analysts expect the inflation rate to be higher than the 3.5 percent recorded in August – already the fastest pace in nearly two years. They think China hopes higher rates will cool price increases.
Jan Lambregts, global head of financial markets research at Rabobank, says the central bank is also trying to slow lending.
"Chinese policy makers are very unhappy about bank lending and they want to curb that more…. It's really a warning shot, to those banks – 'curb your bank lending, we're serious,'" Lambregts said.
Credit boom
For the first nine months of the year, bank lending reached $948 billion – just 19 percent shy of the government's target for the year. The credit boom has sparked a surge in property prices nationwide.
Last week, the central bank asked six major banks to raise the ratio of deposits they hold as reserves, which reduces the amount available for lending.
With the increase, the one-year lending rate now stands at 5.56 percent, while the deposit rate climbs to 2.5 percent. China had not moved its interest rates in nearly three years.
On Wednesday, stock prices in Hong Kong declined just under 1 percent, led by property companies. Japan's Nikkei index fell by 1.6 percent. But Shanghai managed to claw back losses earlier in the day. And in Seoul and Taipei, main stock indexes closed higher.
Investment money
A flow of investment money from developed economies seeking higher returns could complicate China's efforts to slow its economy. The problem could worsen if the U.S. Federal Reserve increases the amount of money in circulation in the coming weeks to stimulate the American economy.
Strong foreign investment flows may boost China's currency. A stronger yuan would make imported commodities cheaper, helping manage inflation. Lambregts says expectations of more rate increases could have an influence on the exchange rate.
"I think we should take a broader view, that in terms of hot money inflow, any prospect of further tightening on the monetary front only increases the feeling that you should be in China," he added.
The yuan's exchange rate is tightly managed by the central bank, although it has risen 2.5 percent against the dollar since June. But on Wednesday, the dollar recorded its biggest gain against the yuan since June, after the Chinese central bank sharply lowered the reference rate for yuan movements.
Chinese borrowers will now have to pay at least 0.25 percentage points more interest on their loans. China's central bank increased the cost of borrowing late Tuesday, ahead of releasing inflation figures for September.
Higher inflation rate
Market analysts expect the inflation rate to be higher than the 3.5 percent recorded in August – already the fastest pace in nearly two years. They think China hopes higher rates will cool price increases.
Jan Lambregts, global head of financial markets research at Rabobank, says the central bank is also trying to slow lending.
"Chinese policy makers are very unhappy about bank lending and they want to curb that more…. It's really a warning shot, to those banks – 'curb your bank lending, we're serious,'" Lambregts said.
Credit boom
For the first nine months of the year, bank lending reached $948 billion – just 19 percent shy of the government's target for the year. The credit boom has sparked a surge in property prices nationwide.
Last week, the central bank asked six major banks to raise the ratio of deposits they hold as reserves, which reduces the amount available for lending.
With the increase, the one-year lending rate now stands at 5.56 percent, while the deposit rate climbs to 2.5 percent. China had not moved its interest rates in nearly three years.
On Wednesday, stock prices in Hong Kong declined just under 1 percent, led by property companies. Japan's Nikkei index fell by 1.6 percent. But Shanghai managed to claw back losses earlier in the day. And in Seoul and Taipei, main stock indexes closed higher.
Investment money
A flow of investment money from developed economies seeking higher returns could complicate China's efforts to slow its economy. The problem could worsen if the U.S. Federal Reserve increases the amount of money in circulation in the coming weeks to stimulate the American economy.
Strong foreign investment flows may boost China's currency. A stronger yuan would make imported commodities cheaper, helping manage inflation. Lambregts says expectations of more rate increases could have an influence on the exchange rate.
"I think we should take a broader view, that in terms of hot money inflow, any prospect of further tightening on the monetary front only increases the feeling that you should be in China," he added.
The yuan's exchange rate is tightly managed by the central bank, although it has risen 2.5 percent against the dollar since June. But on Wednesday, the dollar recorded its biggest gain against the yuan since June, after the Chinese central bank sharply lowered the reference rate for yuan movements.
White House Condemns Killing of Iraqi Governor
The White House is condemning Tuesday's assassination of the governor of Baghdad province. The Bush administration says continuing violence will not delay Iraqi elections later this month.
White House spokesman Scott McClellan says President Bush condemns in the strongest terms the killing of Governor Ali al-Haidari, who was shot along with his bodyguards as they drove through a Baghdad neighborhood.
Mr. al-Haidari, who was one of 17 provincial governors, survived a previous attempt on his life several weeks ago.
Noting that a group led by al-Qaida ally Abu Musab al-Zarqawi has claimed responsibility for the governor's killing, White House spokesman McClellan says the choice for Iraqis is clear: either stand on the side of freedom, democracy and peace or stand on the side of the terrorists.
Mr. McClellan says continuing to move toward this month's scheduled elections is an important part of defeating what he says is the terrorist ambition of returning to a past of tyranny and oppression.
He says there was no discussion of delaying those elections during a Monday telephone call between President Bush and Iraqi interim Prime Minister Iyad Allawi.
"We fully support the independent Iraqi Election Commission timetable of January 30 for holding those elections,” he said. “It is important that we continue to move forward on all fronts, to help the Iraqi people realize a better future, a future that stands in stark contrast to the one of the brutal regime of Saddam Hussein."
Mr. McClellan says President Bush and Prime Minister Allawi discussed security surrounding the vote and how U.S. troops can continue working with Iraqi forces to make sure the country is as secure as possible so the election goes forward.
Mr. McClellan says Prime Minister Allawi's administration is continuing to work with Sunni leaders to ensure widespread participation in the vote.
"They are moving forward on reaching out to areas where there is a heavy population of Sunnis to encourage as broad a participation in that segment of society as well. We want to see all parts of Iraq participate to the fullest extent possible in these elections," he added.
Sunnis are a minority in Iraq, and many Sunni leaders say the country is not secure enough to hold the vote. One Sunni party has already announced a boycott and several Sunni groups have said they want the balloting postponed because of security concerns.
Violence continues ahead of the January 30 vote. In a separate attack, a suicide bomber rammed an explosives-laden truck into a police checkpoint near Baghdad's heavily protected Green Zone, killing at least 10 people and wounding 60 others.
Three American soldiers were killed and two wounded in a different bomb attack in Baghdad. Elsewhere, another U.S. soldier and a Marine were also killed.
White House spokesman Scott McClellan says President Bush condemns in the strongest terms the killing of Governor Ali al-Haidari, who was shot along with his bodyguards as they drove through a Baghdad neighborhood.
Mr. al-Haidari, who was one of 17 provincial governors, survived a previous attempt on his life several weeks ago.
Noting that a group led by al-Qaida ally Abu Musab al-Zarqawi has claimed responsibility for the governor's killing, White House spokesman McClellan says the choice for Iraqis is clear: either stand on the side of freedom, democracy and peace or stand on the side of the terrorists.
Mr. McClellan says continuing to move toward this month's scheduled elections is an important part of defeating what he says is the terrorist ambition of returning to a past of tyranny and oppression.
He says there was no discussion of delaying those elections during a Monday telephone call between President Bush and Iraqi interim Prime Minister Iyad Allawi.
"We fully support the independent Iraqi Election Commission timetable of January 30 for holding those elections,” he said. “It is important that we continue to move forward on all fronts, to help the Iraqi people realize a better future, a future that stands in stark contrast to the one of the brutal regime of Saddam Hussein."
Mr. McClellan says President Bush and Prime Minister Allawi discussed security surrounding the vote and how U.S. troops can continue working with Iraqi forces to make sure the country is as secure as possible so the election goes forward.
Mr. McClellan says Prime Minister Allawi's administration is continuing to work with Sunni leaders to ensure widespread participation in the vote.
"They are moving forward on reaching out to areas where there is a heavy population of Sunnis to encourage as broad a participation in that segment of society as well. We want to see all parts of Iraq participate to the fullest extent possible in these elections," he added.
Sunnis are a minority in Iraq, and many Sunni leaders say the country is not secure enough to hold the vote. One Sunni party has already announced a boycott and several Sunni groups have said they want the balloting postponed because of security concerns.
Violence continues ahead of the January 30 vote. In a separate attack, a suicide bomber rammed an explosives-laden truck into a police checkpoint near Baghdad's heavily protected Green Zone, killing at least 10 people and wounding 60 others.
Three American soldiers were killed and two wounded in a different bomb attack in Baghdad. Elsewhere, another U.S. soldier and a Marine were also killed.
Thursday, November 4, 2010
A new U.N. report says foreign direct investment by transnational corporations will start to recover in 2010 and rebound substantially in 2011
The U.N. Conference on Trade and Development has published the results of this year's World Investment Prospects Survey.
More than 240 transnational corporations were surveyed for this report. The results show a drastic 54 percent decline in foreign direct investment inflows for the first quarter of 2009.
The UNCTAD survey finds cross border mergers and acquisitions dropped by an even more dramatic 77 percent, compared to the same period last year.
Although this gloomy situation is expected to persist throughout the year, the transnational corporations surveyed indicate they expect foreign direct investment will progressively recover in 2010 and gain momentum in 2011.
But, UNCTAD Director of Division on Investment and Enterprise James Zhan warns of several risks related to the recovery of FDI.
"One is the further global economic downturn," he said. "A second is an increase in financial instability and a third, which is very interesting, is the rise of protectionism involving a change in foreign investment regime."
Zhan says protectionism is not a big deal at the moment. But, he says the TNC's concerns about the risk of protectionism in foreign investments is not ungrounded.
"The economic stimulus packages could give rise to what can be labeled as smart protectionism," said Zhan. "Furthermore, a new wave of economic nationalism could occur in the aftermath of the crisis when the exit of the public investment from the bailout flagship industries might lead to the protectionism of the national 'champions' from the foreign takeovers."
The survey finds FDI prospects remain bright in the agriculture and services industries, while the situation is less optimistic for the manufacturing sector.
It says developed countries from North America and the European Union are the regions most affected by the crisis. Sub-Saharan Africa and North Africa are least affected.
The survey shows developing countries in East and Southeast Asia are particularly attractive destinations for foreign investment. And, it notes the top five spots favored by TNC's are China, the United States, India, Brazil, and Russia.
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