How Inflation May Topple Mugabe

By ROGER BATE
July 7, 2008

Amid Zimbabwe's political violence is an economic lesson for anyone who doesn't keep an eye on inflation. The country's dictator, Robert Mugabe, who was sworn in on June 29 to his sixth term as president, has killed a few hundred of his opponents in the past few months, but his country's inflation is killing far more than that. With food aid only trickling back into the country and hundreds of thousands without enough cash to buy food, it was clear during a trip there last month that the crisis is deepening.

Consumer prices have more than doubled every month this year, in some cases doubling every week. A conservative estimate provided by Robertson Economic Information Services, a Southern African consultancy, says that prices are now three billion fold greater than seven years ago. That's right, billion. The exchange rate is currently an astronomical 90 billion Zimbabwe dollars to one U.S. dollar.

When I first went to Zimbabwe in 1996, $1 would buy you eight Zimbabwe dollars – a depreciation in exchange rate of perhaps 10 billion fold in 12 years. A decade ago, 500,000 Zimbabwe dollars would have bought you a house; today it can't buy you anything.

Incredibly, the situation on the ground is even worse than any available data can reflect. Inflation numbers are almost meaningless, with some reports showing that prices triple now on a daily basis, and for some food items prices double hourly. Hyperinflation is approaching the status of the post World War I Weimar Republic and post World War II Hungary, the worst recorded inflations in history.

Joshua Kipuru (not his real name, since he is concerned about reprisals for criticizing the government) told me via telephone that he gave up trying to get cash at his bank in Harare last week, since the lines were too long and slow moving. In the end Mr. Kipuru bought groceries with his debit card, which remarkably still works. The card, he explained, maxes out at just under 10 billion Zimbabwe dollars. So he had to run it 74 times, given that his food bill was nearly 730 billion Zimbabwe dollars.

Buying anything is a "bizarre experience," said Lucy Chimtengwende from Bulawayo, who spent $12 U.S. on lunch recently, with the bill in local currency being an astonishing 1.1 trillion Zimbabwe dollars. The menu had no prices on it, she told me by phone, prices are quoted to you and are constantly changing. And if you want to pay by check, good luck. Most proprietors don't accept them, and for those that do, the price is double, given the time it takes the vendor to receive payment.

Ms. Chimtengwende was breaking the law by paying for her meal in U.S. currency (or "greens" as they're known locally), as was the owner of the restaurant accepting it. But the economy is dollarizing as the local currency literally becomes worthless: "We are billionaires and can't buy anything," bemoaned Mr. Kipuru.

The only immediate hope to end to this inflationary nightmare is if the presses are turned off and the Mugabe government simply runs out of currency. There are local indicators of this; the lines to get cash from Harare's banks are getting longer by the day, suggesting a restriction in the supply of banknotes.

Mugabe's supplier has also reportedly cut off the printing press. In the weeks prior to the March 29 election, the German company, Giesecke & Devrient (G&D), ran its printing presses at maximum capacity, delivering 432,000 sheets of banknotes to Mugabe's government each week. The money, equivalent to nearly $173 trillion Zimbabwe dollars ($32 million at that time), was then dispersed among key constituencies, notably the security forces, as bribes.

After the March election, G&D kept the presses running, worsening the situation. Thankfully, after a public protest outside its German headquarters, critical articles in the German and international press, and pressure from the German foreign ministry, G&D announced on July 1 that it would stop printing the bank notes.

It is uncertain how much of a supply Mugabe's regime still has, but with the current inflation rate driving demand for cash skyward, it is possible the regime will run out of notes in weeks, unless another supplier, perhaps from China, steps in.

While the international community, the African Union and Zimbabwe's neighbors may not be able to stop Mugabe, the economy might. With no means of exchange, a barter economy is already taking hold with services being traded instead of cash. If Mugabe doesn't relinquish power soon, Zimbabwe will resemble a medieval economy – and a poor one at that – within weeks.

Mr. Bate is a resident fellow at the American Enterprise Institute.

Source: How Inflation May Topple Mugabe - WSJ.com

June 18, 2008
An "oriental Western" with firecracker action, Korean humor and spectacular Chinese locations.

By Maggie Lee
Festival de Cannes, Out of Competition

CANNES -- Costing not just a few dollars more than Serge Leone's spaghetti Westerns, Korean genre-twisting auteur Kim Jee-woon's $17 million homage to Leone's tour de force "The Good, The Bad, The Ugly" is a make-or-break venture that, given the precarious status of the Korean film business at the moment, could influence prospects of Korean mega-bucks film investments. Notwithstanding such pressure, the direction shows no signs of fluster, resulting in a jaunty, happy-go-lucky adventure that packs a fistful of dynamite in the spectacular showdown.

Unveiled at Cannes Out of Competition, key producer CJ Entertainment claimed it sold to selective European territories and reported more post-fest sales worldwide. Domestic and Asian (especially Japanese) audience response could be enthusiastic. Kim's genre crossover may also prod the curiosity of those traditionally raised on the Western.

One line of dialogue sums up the action in a nutshell: "Life is about chasing and being chased." The first half hour whizzes by like a stray bullet, taking in a railroad explosion, a train robbery, an ambush in the marketplace, followed by many forms of chases in exotic locations and costumes. A subplot about the legend of "The Finger Chopper" introduces fusion elements of stylishly shot martial arts stunts.

After about an hour of digressive comic relief, the film hurtles toward a grand finale at the pace of a galloping stagecoach. Lone riders, cavalry and jeeps rush against each other across a boundless arid plain in sweeping panoramic shots that proudly show off where the money went.

The film retains the outline of the original characters: a feral gangster, a wacko train robber and a bounty hunter. All are after a map of buried Manchurian dynastic treasure. Song does a cocky, charismatic turn as the Weird on autopilot, making his role less of a weasely buffoon as Leone's Tuco than a resourceful man of mystery. But he lacks the "loser" qualities that made him so human and sympathetic in comic roles for Kim Jee-woon's earlier "The Quiet Family" and "The Foul King."

Cast against type but coming up tops is housewife heartthrob Lee Byung-hun ("A Bitter Sweet Life"). As the Bad, he exudes villainy with a maniacal relish, like Jack Nicholson's Joker, and better suits the energetic mood of this film than Lee Van Cleef's inscrutable Angel Eyes. Leading romance actor Jung Woo-sung ("Daisy", "A Moment to Remember") holds his own as the Good, having grasped that his role is about poise rather than performance.

"The Good, The Bad, The Weird" fondly revisits a popular Korean subgenre in the '60s known as "Manchurian Western," set along the Chinese-Korean border in the '30s, when Japanese colonialism made China's Northeast a frontier land for resistance fighters, outlaws and carpetbaggers.

The meticulous recreation of this period backdrop is one of the film's most fascinating elements. It gives a cultural-historical dimension to the archetypal Western plot of a treasure hunt, tracing the bounty hunters' mercenary behavior to the psychological scars of lost nationhood. Location shooting is done in the Gobi Desert, China's true Wild West, adding a further touch of authenticity.
CJ Entertainment presents/Barunson/Grimm Pictures

No MPAA rating, 127 minutes

Laporan sedang berlakunya pembersihan di Selangor menjadi bahan yang agak panas lewat minggu yang lalu. Bagaimanapun kepanasan itu tenggelam dengan sensasi sodomi Anwar Ibrahim - Saiful Bukhari.

Laporan Sinar Harian, 5 Julai 2008, sehingga kini , Maimunah Said (Muzium), Prof Razali Agus (Unisel),Takril Tasuki dan Seorang Pengurus Asrama Yayasan Selangor merupakan antara "casualty" awal "departmental cleansing" di Selangor Negeri Maju dibawah teraju Tan Sri Khalid Ibrahim.

Bagaimanapun Takril Tasuki dan Pengurus AYS masih bertugas, malahan Takril Tasuki diberitakan akan dinaik pangkat memimpin sebuah GLC besar Selangor. Untuk satu catatan, Yayasan Selangor berada di zaman keemerosotan sejak Takril Tasuki menjadi CEO nya.

Dalam isu pembersihan ini, Menteri Besarnya Abd Khalid Ibrahim menjadi sasaran kritikan lantaran kenyaataannya yang berupa "mulut dulu baru kepala".

Contohnya, dalam kes pemberhentian Maimunah Mohd Said, Khalid Ibrahim sebagai Menteri Besar menunjukan sifat "non-statemanship" dengan mudah memberi gelar "artifak" kepada Maimunah sedangkan pada masa yang sama, Khalid juga layak diartifakkan kerana usianya yang lebih. Bukankah Khalid juga layak mengisi borang Takaful warga emas Selangor? Jika sakit dapatlah meringankan kos rawatan hospital dan jika mati mendapat wang pampasan yang ciput bagi Khalid.

Pembersihan seterusnya bergerak ke UNISEL, Universiti Swasta milik Kerajaan Negeri Selangor. Professor Razali Agus menjadi pilihan untuk ditamatkan siarannya kerana tidak dikekalkan dalam jawatan sebanyak dua kali tempuh percubaan. Razali dicutikan sehingga tamat tempuhnya dengan gaji penuh kira-kira RM22 ribu sebulan.

Bagaimanapun Timbalannya, Profesor Rustam Abbas juga diperintahkan pulang ke sarang lamanya di UiTM. Pada asalnya Rustam diminta menghabiskan tempuh sebulan tetapi seminggu selepas itu arahan baru dari Pejabat Menteri Besar ialah keluar pejabat dengan segera seperti mana arahan kepada Razali Agus.

Antara Razali dan Rustam, kedua-dua mereka tidak bertemu angin dan kini dua-dua juga ditamatkan siarannya. Beberapa misteri yang tidak terongkai ditrasai dalam penamatan khidmat kedua mereka ini.

Pertama, mengapa Razali sebagai NC Unisel tidak dikekalkan ke jawatan sehingga dua kali? Siapakah yang bertanggungjawab dalam perkara ini? "Who Actually hire & fire in Selangor?"

Jika Setiausaha Kerajaan Negeri yang bertanggung jawab, satu penjelasan perlu dibuat. Ini kerana dari sudut profesional amat mengaibkan bagi Razali Agus untuk diberhentikan kerana gagal dalam dua tempuh percubaan! Perlu diingat, Razali Agus bukan menjawat jawatan kerani atau pegawai rendah.

Pemberhentian Razali juga jika dijadikan sebagai kes rujukan masa hadapan akan memberi natijah yang tidak sihat dalam struktur perkhidmatan di Selangor.

Kedua, Rustam Abbas juga dihantar balik ke sarang lamanya walaupun masih ada empat bulan tempuh perkhidmatannya iaitu sehingga bulan Disember. Mengikut sumber yang boleh dipercayai dalam mesyuarat lembaga universiti, Exco Pendidikan, Halimah Ali menimbulkan isu laporan BPR terhadap Rustam.

Persoalannya apakah pihak BPR sudah menyelesaikan siasatan samada membersihkan nama Rustam atau mendakwa beliau.

Sebelum pemberhentian dua akademia ini, Hj Yahya Saari, Pegawai Khas Mentri Besar juga digantung jawatan selama dua bulan lantaran ada siasatan BPR terhadapnya kerana memberi surat sokongan kerja kepada kontraktor.

Penggantungan ini lebih bermaksud pemecatan kerana serentak itu, pihak Menteri Besar sudah menyenaraikan Saudara Zahir Yusuf sebagai ganti Yahya. Kerana itu juga Hj Yahya terus menghantar surat perletakan jawatannya.

Sejak bilakah siasatan BPR dijadikan sebagai asas pemberhentian dan pemecatan? Undang-undang sendiri menjelaskan seseorang itu tidak bersalah sehingga ia didapati bersalah oleh mahkamah keadilan. Jika asas siasatan BPR diambil sebagai asas pemecatan, maka ia akan menjadi satu precedence yang amat bahaya di masa hadapan.

Bagaimana nanti jika lahir lebih ramai manusia seperti Remy Iskandar, yang mahu melapor apa yang diarahkan kepadanya tanpa usul periksa akan berakukah pemecatan dan penggantungan segera seperti dalam kes-kes terpilih di atas?

Apakah nanti ada mana-mana pelacur diupah untuk mengaku berzina dengan menteri besar, dibuat laporan, maka Menteri Besar perlu digantong atau terus pecat jawatan?

Apakah nanti jika ada dakwaan bahawa Halimah Ali melakukan rasuah atau tindakan berunsur rasuah, maka beliau juga perlu digantung atau dipecat sebelum mahkamah membuat keputusan?

Atau... Apakah pentadbiran Kerajaan Negeri pimpinan Khalid hari ini melakukan pembersihgan terpilih? Apakah ada usaha untuk mewujudkan sebuah Kerajaan YES Man di Selangor?. Pergerakan ke arah itu semakin menyerlah, beri sedikit masa, jawapan pasti muncul.

Selangor akan menghadapi 'brain- drain' dalam masa mendatang kerana rasa tidak 'secure' untuk berkhidmat di Negeri Selangor. Akhirnya, Khalid Ibrahim sendiri perlu membuat kira-kira apakah dia juga sudah "secure' ???

God is Love

Originally uploaded by Roobee

God is Love

Copyright © E. Raymond Rock 2008. All rights reserved.

A good friend of mine, a Methodist, asked his minister if people who didn't believe in Jesus were destined for hell. The minister thought for a moment and said, "God is love." This reply is a sign of the shifting landscape of spirituality.

Successful spiritual institutions have always reflected their followers' level of conscious awareness. This is so because spiritual institutions are not isolated. When they become isolated, the conservatism they hope will preserve them is exactly what destroys them. Followers seldom challenge their spiritual institutions when they intellectually outgrow them; they just walk away.

As humanity evolves, and its level of understanding expands, the current institutions and their doctrines have no choice but to evolve as well. We are no longer ignorant people living in middle age muddle. If institutions don't adapt, they will be discredited and replaced by institutions that satisfy the hunger of an evolving consciousness. This has happened throughout history, and it's happening now.

This new consciousness is not a choice for people, or something to be stamped out; it is inevitable, unstoppable. Attempts to stifle it will be temporary at best and eventually unsuccessful. It will be wiser to simply adjust, because armed with this new consciousness, an individual's religion will be thoroughly tested and investigated from a standpoint of free inquiry, no longer from a standpoint of blind belief and intimidation. The world is not becoming less religious; it is becoming truly religious.

Truth, that enigmatic quality of lasting peace and security in our hearts, cannot be imparted from an outside source; it must be experienced. Spiritual institutions that dictate, and then expect us to follow blindly, will no longer be tolerated. Just as democratic societies love political freedom, those of the new consciousness will demand spiritual freedom as well, where each individual will discover his or her own truth inwardly without fearing the judgment of an outside, authoritarian power. If you look carefully, you can see this happening all around us.

The old consciousness, which is a throwback to medieval belief systems handed down by authoritarian Gods, is giving way to new spiritual freedom. Controversies throughout the world reflect this change of behavior where ruthlessness is clashing with an arising sensitivity and intelligence. Falling in love with a religion, then defending it against all opposition, is as illogical and emotional as a lover who imagines dangerous rivals encircling his beloved, and risks his life to protect her. Fortunately, this form of lust is usually only short-lived obsessions for those with a developing new consciousness.

Institutions, including spiritual ones, which adjust to the needs of this new, evolving consciousness of individuality and freedom will thrive. Those dragging their feet and fighting it will not. This will not happen overnight. Many will continue to look upon all of this as blasphemy, but those who examine things carefully will see the implications clearly, and prepare themselves for the coming changes.

Acceptance of this new reality is only beginning. The infighting and disagreements will be no different from clashes of cultures in the past, where new ideas were looked upon initially as so threatening that the messengers were shunned, sometimes killed. Eventually, new ideas ease their way into a society that can't quite accept them, but are intrigued nevertheless and acknowledge the new ideas as cultural jokes. Finally, new concepts are accepted seriously when the culture reinvents them as their own original ideas to fit into their particular beliefs, as they must.

This shift in consciousness is happening now. The human longing for creativity, historically reserved for the few artists, writers, and those of inspired occupations, is going mainstream. The need to be creative is overwhelming the need for pleasure and security. Artists think nothing of living in their cars while painting their masterpiece, writers hammering out pages in one-room apartments oblivious to worldly pursuits, while truly spiritual people are going deep inside, taking the time, the risk, and the sacrifices involved to understand themselves, to understand what Truth really means, to come face to face with God just as the prophets throughout history had done. Why accept second hand spirituality from something read or heard?

Material things so valued in the past no longer will weigh us down so much. A certain level of material comfort will always be necessary, but now, more importantly, we will demand our time to create. No longer will it be, "How much money can I make?" but rather, "How can I make ends meet while I support my passion?" Will society as we know it change? Yes. Will crime decrease? Of course. Will we be a stronger and happier society? Definitely. We see this happening in small ways already. What passion could be more creative than one of authentically finding out what God really is for oneself, instead of being spoon-fed and mislead about Him by unenlightened, self-righteous sermonizers?

Many ignore warnings that rich men have a better chance of passing through the eye of a needle than getting into heaven. The fact remains, however, that a rich man cannot relate to a poor man. He patronizes those less fortunate, but secretly, or even openly, fears them, seeing poverty as a threat, a reminder of what he could become because his values embrace only power and wealth. As a new consciousness evolves, however, we will become increasingly vulnerable and sensitive to the pain of those less fortunate, less intelligent, less endowed with creative energy. Those whose consciousness is slower in evolving will fight to maintain the status quo (to keep "economics" the real present day world religion), but nevertheless, a freedom from the mass hysteria that too often now represents our beliefs, will certainly evolve.

Christ and the Buddha recognized the blinding influence of wealth and organized religion, and gave us examples to follow. They were literally beggars, turning their backs on the established religion of the day armed only with enlightened minds. Currently, how many are prepared to follow them, that is; become enlightened? Who welcomes financial hardship and psychological upheaval in exchange for a spiritual life that, as promised by these two unique men, holds out the real possibility of total inner freedom instead of guilt and fear?

But because we lack faith, few have experienced an authentic spiritual life; we really don't believe the teachings of the Buddha and Christ. They tried to tell us about spirituality, but we weren't paying attention; we opted to take the easy way out -- we built religions around these men instead of following their ways and finding true spirituality within ourselves - and we got what we deserved; a shallow understanding of spirituality. We don't intuitively feel it. We prefer to noisily talk and think about it while going about the business of amassing fortunes and worldly relationships, instead of reaching in the silence toward God.

St. John of the Cross describes the risks of fame and fortune in his masterpiece; "The Ascent of Mount Carmel": . . . "and the fourth degree of evil that comes from joy of worldly things is: And he departed from God, his salvation. This man has made money and things of the world his God, and David said, 'Be thou not afraid when a man shall be made rich, for when he dieth, he shall carry nothing away, neither riches, nor joy, nor glory."

Clearly, we have refused to believe what was being taught; spiritual self-sufficiency through our own efforts. We refuse because it is easier to just believe. If we are born in India, we believe as a Hindu. In Thailand, as a Buddhist. In the US as a Christian. We believe what our parents taught us because putting forth the effort or time to see for ourselves requires courage and work. We are too busy with everything except God. We talk the talk, but we don't walk the walk, however, this is all changing; if you look closely, you can see the signs everywhere. The new consciousness is beginning and you can be a part of it.

It is always your choice.

---

E. Raymond Rock of Fort Myers, Florida, is a founder and principal teacher at the Southwest Florida Insight Center. His twenty-six years of meditation experience has taken him across four continents, including two stopovers in Thailand where he practiced as an ordained Theravada Buddhist monk in the remote northeast forests. His first book, "A Year to Enlightenment" (Career Press/New Page Books) is available at amazon.com and other online and retail bookstores.

origine:  ma région

The UN General Assembly adopted the United Nations Principles of Older Persons on the 16th December 1991. Some highlights of the Principles are:

Independence. Older persons should:
• Be able to live in environments that are safe and adaptable to personal preferences and changing capacities;
• Be able to reside at home for as long as possible.

Participation. Older persons should:
• Remain integrated in society, participate actively in the formulation and implementation of policies that directly affect their well-being, and share their knowledge and skills with younger generations.

Care. Older persons should:
• Benefi t from daily and community care and protection in accordance with each society’s system of cultural values,
• Have access to health care to help them to maintain or regain the optimum level of physical, mental and emotional well-being and to prevent or delay the onset of illness,
• Be able to enjoy human rights and fundamental freedoms when resident in any shelter, care or treatment facility, including full respect for their dignity, beliefs, needs and privacy and for the right to make decisions about their health care and the quality of their lives.

Self-fulfilment. Older persons should:
• Be able to pursue opportunities for the full development of their potential,
• Have access to the educational, cultural, spiritual and recreational resources of society.

Dignity. Older persons should:
• Be able to live in dignity and security and be free of exploitation and physical or mental abuse,
• Be treated fairly regardless of age, gender, racial or ethnic background, disability or other status, and be valued independently of their economic contribution. The concepts of the principles are exceedingly appropriate and compelling particularly for older persons living in residential aged care.

Mingling with the restaurants and empty store fronts at Mandarin Plaza, suite 205 is home to the most likely of unlikely residents: artists.  Some say artists are urban pioneers, establishing homesteads in lands dismissed by most as uninhabitable.  Others see them as conquering colonizers whose mere presence spreads the hipster disease like so many smallpox blankets.

But whether Theresa Masangkay is Laura Ingalls Wilder or Henry Bouquet is not up for debate tonight.  On this balmy Saturday evening in Chinatown, away from the hubbub of the neighborhood's 70th anniversary celebrations, her little plot of land is open to the public.

Theresa shares her studio space with three other artists, each unique in their own right.  But something about her works seem so much more personal than the others, and yet very universal.  Hanging out by the entrance to her studio space in blue jeans and a militantly green short-sleeved coat, Theresa talks about her collection with her guests.  "I'm exploring the idea of the American dream and how my family tried to live that out," Theresa shares.  The deceptively simple explanation is more than apt.  Consisting primarily of photographs taken by her grandfather in the early to mid-1970's, the collection recounts her family's forays into Americanization.  Especially telling is a picture of her mother in front of a Christmas tree, with a 3 ft. tall blond-haired, blue-eyed doll standing by her side.  In another photograph, Theresa's father poses, arms crossed and triumphantly smiling, in front of a faux Bridgette Bardot at Madame Tussauds Wax Museum. The juxtaposition of a young Pilipino man with the gleaming white and very realistic looking Bardot statue is striking, eliciting, however unintentionally, comments about what he is doing there with her.  Many of the photos raise these kind of questions, as her family's attempts to blend in seem to only make them stand out even further.

There is also a strong theme of connections throughout Theresa's work, or more specifically the desire to create them.  In a series of video clips created to complement the photo exhibit, Theresa further fleshes out the stories each picture seems to tell, the underlying truths that are not immediately obvious but are nevertheless inextricable.  In the photograph of her mother by the Christmas tree, Theresa sings "White Christmas" as she peeks out in the background like a ghostly apparition.  In a photo of her grandfather in a living room, the TV and picture frames show footage from the war in Vietnam and of rising plumes of smoke resulting from the current conflicts in the Middle East, as "The End" by The Doors seeps into the background.  Most poignant of all is a video of Theresa at her grandfather's grave.  Wearing a dress similiar to that of her mother's from an older photo at the site, and carrying bags that her grandfather can be seen holding in the other photos, Theresa sings songs to her deceased grandfather as a funeral procession passes behind her.  In a still from scene, Theresa has characters from Disney cartoons by her side, alluding to the fact that only a few miles down the road are the Disney Studios; it's as if his life's quest to live the American dream has only come to fruition in death.

There are other allusions to the ideas and metaphors brought up by Theresa's work, which also includes scanned copies of Jessica Hagedorn's "Gangster of Love" and photos of her grandfather at the Manila Airport, in front of the New York skyline, and next to a flashy sportscar.  Some might even say Theresa herself is a living embodiment of the themes she touches upon.  A Brown Pilipina American artist in an otherwise very White art world, she is in fact the only artist of color even in her own studio.  Whether or not she realizes it, or is even willing to recognize it, her very presence there is a continuation of her family's dreams, a flag planted at the shores of a strange new world.

In other words, debating over whether Theresa is a pioneer or colonizer in this small storefront in Chinatown is moot at best.   And in the larger sense of those identities, who says she can't be both?

The rest of the photos are here.

The rise in importance of Gulf region Sovereign Wealth Funds has been ongoing for some months, but yesterday at the International Financial Forum in Paris, staged by Paris EUROPLACE, the organisation promoting Paris as a Financial Market, the evidence of the GCC's influence was stronger than ever.

Attendees included more than 1,200 representatives of investors, banks and financial institutions, French and international issuers, as well as a large delegation of the GCC member countries and high representatives of the European Commission and Parliament.

The topic of the forum was "the contribution of the Paris Financial Centre to the global economy", which included 3 GCC-focused panel discussions showcasing the growing importance of the GCC region in global finance and the positioning of Paris as a welcoming and responsive financial centre for global funds. The panel discussions stole the show: they were largely oversubscribed and there were rows of people standing at the back of the room.

The large GCC delegation - led by Dr Nasser Saidi, Chief Economist of Dubai International Finance Centre (DIFC), Jean Paul Villain, Head of Strategy Unit of Abu Dhabi Investment Authority (ADIA), Arif Sherani, Director of Investment Strategy of Qatar Investment Authority (QIA) and Tom Healy, CEO of ADX (Abu Dhabi Exchange) - was on a mission to explain the opportunities offered by the Gulf areas and succeeded in seducing European investors, bankers and media.

The 3 sessions were: "The role of long term investors in the global economy", "GCC cooperation opportunities", and "Islamic finance developments".

Each was vastly oversubscribed, an interesting fact in a country such as France which has had a recent history of economic patriotism.

The role of long-term investors in the global economy (plenary session) underlined the shift of capital to the southern hemisphere, where the capacity on saving averages 50% to compare with 15% in the North, but also the emergence of SWFs as long-term investors together with pensions funds or central banks. The growing financial capacity of SWFs, their long term investment policy and their will to collaborate on policy principles were all highlighted.

De Romanet, CEO of the Caisse des Depots (the French State Fund), underlined the role of the SWF in the global market, and their growing capitalization "from 3 000 billion today to 15 000 billion in the near future". For him, "SWFs are no more or less than institutional investors and I invite them to join the Caisse des D?p?ts, in the Global Institutional Investors Club that I am setting up." Villain from ADIA and Sherani from QIA insisted on the need for continuous dialogue.

Dr Nasser Saidi from DIFC underlined that "in the 70s and 80s, the petrodollars were coming in and out without benefiting the economy, there was no stock exchange, no financial market to leverage the benefits of that flow. Now that we can control that wealth and invest it, foreigners are welcome to come, operate, and list their companies on one of the region's stock exchanges.

He added that "The region is growing fast, 11% a year. At this rate the GCC will be the 5th biggest economy in 2020 and its single currency will emerge as a global currency alongside the Euro and the Dollar." Dr Saidi also called for stronger ties between Europe and the GCC countries, a sentiment backed by the Abu Dhabi Exchange whose representatives signed a strategic partnership agreement with NYSE Euronext.

Tom Healy the CEO of ADX, who said: "The advantages of cooperation are far bigger than merely technical; the expertise and people are more valuable." He invited the best EU organisations and companies "to contribute to and benefit from the current growth".

NYSE Euronext a member of Paris EUROPLACE has signed a number of agreements with Financial markets in the GCC region, the most recent being the acquisition of 25% of the Doha Securities Market for USD 250 M, the biggest investment made by NYSE Euronext in a foreign Stock Exchange.

The session on Islamic Finance Developments boasted an impressive panel of regional and French specialists and explained the mechanism of Sharia-compliant finance. It underlined the growing importance of Islamic finance, which is predicted to grow from its current US$800 million to US$1.4 trillion in 2010. It currently represents 20 to 30% of all GCC banking activities in the GCC region.

Christine Lagarde, France's Minister of Economy, Industry and Employment, highlighted the initiatives, inspired by Paris EUROPLACE committees, more particularly those concerning the development of Islamic finance services on the Paris financial marketplace.

The French law already offers the best flexibility and adaptability to welcome Islamic finance operations. Nevertheless, new measures are currently under way with the set up of a new framework for Sharia's compatible asset management instruments by the French financial authority (AMF). Some measures including tax incentives are on track, aimed at facilitating Islamic banking and takaful products as well as Sukuk issuance which will make Paris an attractive center for Islamic Finance.

New initiatives have been decided by the AMF in order to facilitate the issuing of Sukuks on the Paris Stock Exchange and tax incentives are being studied to ease Islamic banking and insurance operations (takaful).

Paris EUROPLACE is the organisation which promotes Paris as a financial market. It represents the major players in the financial market, namely corporate issuers, investors, brokerage firms, banking institutions, market authorities, law, accounting and consulting firms, and professional associations. Its main strength is bringing together the multiplicity of players in the financial industry.

© WAM

Claims of Bump from Tax Stimulus Premature

It’s a bit early for the adult entertainment industry to claim victory. While it may be fun to say that President George W. Bush’s tax stimulus has led to increased porn spend, particularly given his administration’s moral stance and increased prosecution of the industry under obscenity laws, the reality cannot be that simple. After all, how can the industry say that it has benefited in such a specific manner when, in general, it is unable to estimate market size and individual company revenues with any degree of certainty?

Kirk Mishkin, the Head Research Consultant for the non-profit Adult Industry Market Research Company (AIMRCo) claims that “[m]any of the sites we surveyed have reported 20 percent to 30 percent growth in membership rates since mid-May, when the checks were first sent out.” He continues to say that the summer tends to be a slow period for this market. LSGmodels.com spokeswoman Jillian Fox, agrees, indicating that 32 percent of members responding to a survey played a role in their deciding to subscribe to the site.

What is missing from the story is detail. AIMRCo says that “[u]sing a connected network of over 400 paysites and 2000 affiliates/traffic trading sites, we gather the data necessary to make informed market trend assessments.” Yet, it does not indicate the size of the sample for this particular survey. It offers no description of the responding companies. For Fox’s survey, there is no comment as to whether members would have joined anyway.

Looming in the background, of course, is an e-mail exchange I had with Adult Video News Editor Dan Miller. AVN typically publishes a “State of the Industry” report in its March issue, crunching the numbers on market size, retailer performance and business trends. This year, he says, AVN decided not to issue the report. “We did not do one for this past year,” he wrote, “our industry has nothing scientific in nature with regard to statistical data, unfortunately.”

I have been studying the porn market for my doctoral dissertation and have taken a close look at the available data, as well as the history of both the data and some of the assumptions used to formulate it. While I do believe that the statistics have been directionally correct, there has always been controversy as to their accuracy. AVN has done a great job with little information in an industry that values its privacy, but I understand why they have discontinued the “State of the Industry” reports.

So, this brings us back to AIMRCo’s claims. Given that AVN has trouble generating high-level data for an industry-wide perspective, how realistic is AIMRCo’s assertion that Bush’s tax checks are stimulating the porn economy? Let’s be realistic. The thought that the bush tax tactic helps porn is great poetry, but that’s about it.

Photos of Adrianna Lynn and Stoya by Bam Bam

So what is this juju we are talking about. Juju is a word of West African origin that refers to the supernatural power ascribed to an object such as a fetish, a charm, periapt, phylactery, talisman or an amulet. It can also be described as a small object worn or kept for its supposed magical power. I believe the western world call it Voodoo which originated from West Africa due to the importation of African slaves.

Now let's get technical and funny. How many of you have seen a bird turn into a human (LIVE) ?? How many of you have seen a REAL witch Doctor ?? How many of you have seen a charm that's tied around the waist?? Fellas, I am not talking about the movies !! I mean "feelefele - slang meaning seen or witness" Speaking for myself I haven't witness any of the above and I want it to stay so, but I have heard countless times of other peoples experiences. People say it can only work if you believe in it. That can be false and at the same time true, we all have the choice of believing what we want but one thing you don't want to do is challenge the fact that it doesn't exist.

By Eric Salut

TOTOO palang may non-showbiz girl na dini-date si Diether Ocampo. Kung hindi kami nagkakamali, present ito sa celebrity premiere ng Iisa Pa Lamang sa SM The Block.

Habang ginagawa ang guest list para sa said preem, Diether emphasized a particular name of a girl. He requested the organizers to make sure na may reserved seat para sa nasabing babae.

In fact, habang nasa entrance kami ng Cinema 2, a pretty girl approached us. Very pretty siya at mestiza. She was with two girls who introduced themselves as Diether’s guests. Too bad, hindi namin nakuha ang exact name ng girl.

Hindi namin palalampasin na hindi malaman ang pagkatao ng bagong babae sa buhay ni Diether.

Aware na rin marahil si Kristine Hermosa sa bagong development na ito sa lovelife ng ex-boyfriend.

Katunayan, nagsalita na ang aktres ng, “Well, gano’n talaga. Ito na siguro ’yung time that we both move on.”

By Julie Bonifacio

Nakunan ng pahayag ng Entertainment Live! kahapon, July 5, ang international star at host ng Pinoy Dream Academy na si Billy Crawford tungkol sa balitang pagkakamabutihan nila ni Heart Evangelista. May nakakita raw kasi na magkasama sa isang restaurant sina Billy at Heart.

"It's not true that we're alone. Hindi lang kami ni Heart ang magkasama that time. There are a lot of people when we came out and I know Heart for a long time as well," pahayag ni Billy.

Ayon naman sa mga nakakita, sweet na sweet daw sina Heart at Billy.

"Sabi nila sweet daw kami and everything. I'm not gonna say anything, ‘di ba? No matter who is with me... and maybe a woman next to me, of course, I'm gonna offer her a seat, I'm gonna offer her a drink, like iced tea."

Sa trade launch ng mga bagong shows ng ABS-CBN kinunan ng pahayag ng EL! ang ex ni Heart na si Jericho Rosales tungkol sa isyu.

"I've already moved on," sabi ni Jericho. "I'm happy for them."

Hirit naman ni Billy, "I saw Jericho, and you know, kung syota pa lang yun, masakit talaga yun, ‘di ba?"

Ayon kay Echo, wala raw siyang magagawa kung may bago nang boyfriend si Heart.

"Hindi ko mapipigilan ang panahon."

Pinanindigan naman ni Billy na magkaibigan lang sila ni Heart at hindi sila magkarelasyon.

"I'm still single. Right now, hindi ako naghahanap. So, yung issue about me and Heart, [it's] not true," tapos ni Billy.

By Rose Garcia

Hindi pa raw personal na napapanood ng Starstruck Ultimate Hunk na si Aljur Abrenica ang scandalous video raw niya na kumakalat at pinag-uusapan ngayon sa Internet.

Pero umpisa pa lang, itinanggi na niya na siya nga ang nasa video na yun.

"Sa mga narinig ko sa aking pamilya, sa mga kaibigan ko, hindi po ako yun. Nililinaw ko po sa inyo na hindi po ako yung nasa video."

Sey pa niya, "Hindi ko pa po nakikita, pero, ang sabi nga po nila, hindi raw po ako. At yung mga bagay na ganoon, hindi ko po magagawa yun."

The alleged sex video raw niya ay naka-post sa ilang gay website. Naitanong nga ng Startalk kay Aljur kung aware daw ba siya na pinagpapantasyahan siya ng mga kapwa niya lalaki.

"Well, okey lang...okey lang sa akin. Lahat naman tayo, may pinagpapantasyahan. Ako rin naman, meron. Pero, babae!" natatawa niyang sabi. "Sa akin, natural lang yun, e. Natural lang na sa isang bading na magkagusto sa isang lalaki.

"Ako naman, welcome naman lahat sa akin. Wala akong pinipili, basta pagkakaibigan lang or tropa, okey ako. Pero kapag ganyang situwasyon, hindi po ako pumapatol sa bakla," tahasan nga niyang nasabi.

Startalk insisted the question on Aljur kung paano raw kaya ay mayroong very tempting offer, magre-refuse pa rin ba siya?

"Actually po, may nag-o-offer po sa akin na kahit gaano kamahal or kahit gaano kalaki, tinatanggihan ko po. Actually, sinasabi ko po sa father ko. Kasi, kapag ganoong bagay na malaki na talaga, hindi ko kayang i-handle.

"Sinasabi ko sa dad ko na siya na ang bahala. So, siya na po ang nagsasabi."

Isa pang isyung ibinato kay Aljur ay ang pagiging tease naman daw niya kapag nagwo-work-out sa gym.

"Wala pong katotohanan lahat yun. Siguro kung yun po ang labas sa kanila, bahala na po silang mag-isip. Basta ako, wala akong ginagawang masama sa kanila. Basta ako, magwo-work-out ako para sa akin yun. Para sa trabaho ko yun, e. Para mapaganda ang katawan ko."

By Mario E. Bautista

GMA-7 has found a new leading man in Mark Anthony Fernandez who’s doing fine as Cyrus, Regine Velasquez’s temperamental boss in Kim Sam Soon. His edge is that he’s not only goodlooking on screen but also acts so well. His late Dad Rudy Fernandez must be smiling from the great beyond now that Mark has totally recovered from his disastrous bout with drugs. Mark started with much promise as one of the Guwapings in the mid 1990s and he was launched to stardom by Star Cinema in Mangarap Ka with Claudine Barretto.

But his subsequent junkie behavior undid his career so he had to go into rehab. It was GMA-7 who gave him another break casting him in Impostora and Kamandag and he now certainly comes into his own in Kim Sam Soon, where his fairly-controlled acting perfectly balances the unrestrained attempts of Regine at comedy. Mark is actually being projected as a sexy actor in the show as he’s photographed shirtless in a number of scenes. In one scene, Regine sees him only in his boxers and in another scene, in his swimming trunks. There’s also a scene where Regine enters the bathroom and he’s already naked inside.

“Actually, nahihiya nga ako, lalo roon sa trunks scene,” he says. “Sa set lang sinabi na I’ll have to wear trunks. Pero okay lang kasi as an actor, dapat ready ka for anything. First time ko ginawa ’yun in my entire career, kahit sa pelikula. It’s good I do workouts kaya prepared ako. Nakakahiya rin ang scene na hubad ako sa harap ni Miss Regine. Buti na lang at okay lang sa kanya at tawa lang siya nang tawa.”

We think, though, that Mark still has to work out some more to add up more bulk to his too slender frame.

By Rachelle Siazon

"It’s very Betty-ful!" says Bea Alonzo about her deglamorized look for I Love Betty La Fea. Dressed as her Betty character, Bea talked to ABS-CBN.com about her "reverse makeover" during the shoot of the much-awaited comedy series. According to Bea, the frequent makeover sessions, which usually last two hours, have helped her get a feel of her role.

A lot of work was required for Bea to achieve the perfect "ugly" look as Betty. She had to wear fake bangs, her eyebrows were "thickened" using stencils from false eyelashes, and her hair was turned into a long curly dried-out mess. Bea even wore fake braces that were specially designed to fit comfortably and to help her speak easily.

The young actress never had any qualms about going through her reverse makeover. In fact, Bea is willing to do more to give justice to the well-loved character. "Binibigay ko na lahat sa workshop. Every night pinapanood ko yung Colombian Betty La Fea at 4 am na ako nakakatulog kasi talagang na-hook ako sa story at sa character," she says.

She hopes that viewers will also see the lovable attributes in her character that she found in Betty. "Gusto ko kay Betty yung pagiging secure niya sa sarili niya. May confidence siya in the way she carries herself despite how she looks. Alam niya yung mga gifts sa kanya ni Lord, the talent and intelligence na hindi lahat ng tao meron."

Bea also has praises for her co-stars in I Love Betty La Fea, most of whom she will be working with for the very first time. She commends their professionalism and she couldn’t be more flattered than to be surrounded by a star-studded cast.

Check out ilovebettylafea.multiply.com for more exclusive stories, photos, and videos of I Love Betty La Fea. ]]> http://hellozkitty.wordpress.com/?p=328 Sun, 06 Jul 2008 20:47:45 +0000 hellozkitty http://hellozkitty.wordpress.com/?p=328

source

Cherry blossom of the day:

“Jazz is the only music in which the same note can be played night after night but differently each time.” -  Ornette Coleman

Have you noticed how recently most tracks released to the public are about 4 minutes long, have a chorus and 2 stanzas that more than often include the word baby in them? I wondered today: why are we unable to listen to music, real music the one that uses instruments and undefined elements in its composition? Why the sudden change from jazz, blues, classical dominant to pop?

Has it ever occurred to you that lyrics and music may not be a natural pair? It suddenly donned on me that music is composed by notes. Lots and lots of notes. Notes, unlike words, are an infinite concept; even if they situate themselves on different levels, they have to time frame in which they have to begin or end in order to exist, to be called notes. Music, by association, has the same property: it does not have any sort of special or temporal limits. Words, on the other hand, are by definition structures that have to be formed at a certain moment in order to have meaning and to be of a certain length and composition in order to exist. Moreover, music as we know it has one general property, a value universally acknowledged and that is to provoke feeling in the people who listen to it. Feelings are also multidimensional. They don’t have to be compact or of a single shade: they are complex structures that can last for as little as a second or as long as a lifetime. This is when the question and the answer finally crystallized in my mind: if you add infinite (music) + infinite (feelings) + finite (lyrics aka words) it should equal something that is 66,(6)% infinite. But it doesn’t. Why? Because words act as a feeling suppressant. They deviate the creativity of the feeling to a certain point, because they influence the way we perceive the music. It’s the same with watching an emotional scene in a movie without music, allowing you to form a original emotional reaction and with music that accentuates the intensity of that particular moment or warns you in which direction you should go.

Personally, in the last 3 years of so my taste in music has taken a dramatic turn. I remember being an avid fan of Britney Spears or band like Backstreet Boys and Spice Girls, which I still think they rock, not musical wise, but symbol wise, because they did represent an era. Now, it has “evolved” so to say in a much more selective list of singers and bands. I enjoy listening to jazz, blues, old rock, sometimes hip hop[ but I prefer artists like Nas, Common, Def Jam, Run DMC or Salt’n’Pepa],old punk and classical music, which I never thought I would ; but for me this incident proved that taste really does run in the family : once on my birthday I received a double CD by Pavarotti from my mom and she wrote a dedication on the cover : “In the hope that one day you’ll enjoy it ”. Even now I can remember thinking: “Wanna bet??” [Jake Harper, is that chu?]. Seems like she was right after all J. Anyway, my point is most of the music I now listen to has a lot more actual music to it then lyrics. I mean take artists like Frank Sinatra or Ella Fitzgerald, The Beatles , they all have lyrical content, but they have a fare share of musical parts that just rely on instruments to awaken the reaction of the audience. They’re not so demanding in terms of getting a certain feeling out of the listener, as they are to provoke a emotion of any kind; the one that you feel like feeling.

Now when it comes to foreign artists [ technically the above mentioned are foreign too, but more foreign is what I what to say ] like Korean or Japanese, I find myself guilty of listening to cheesy pop music groups like SNSD, Ayumi, Arashi ,Kat-tun, Wonder Girls, Big Bang and the lot. But in my defense I only listen to them because the tunes are catchy and the words are easy to memorize and understand which is exactly what I need in order to listen to the language. That being said, I do try to balance things by listening to groups like Epik High, Eternal Morning [ which only produce instrumental tracks], Nell and Clazziquai, all known for their meaningful lyrical content and/or their amazing instrumental work.

In the and I guess it all comes down to this: freedom is appealing to me . Freedom is hot, attractive. It’s something that most of us never get to know, because we live in a society that likes to dictate our every single move, so I tend to be attracted to the things that give me the freedom to feel, do, move, talk, love the way I want to.

• atlas shrugged-- note to all the nutty "Objectivists" who have been posting: (a) don't take yourselves so seriously and (b) I'll probably write a reply to your posts tonight
• labute-- as in Neil LaBute, the playwright responsible for Fat Pig, Some Girl(s) and, unfortunately, reasons to be pretty
• "shankman mused in his haro e-mail"-- I have to be honest, this one tickled the hell out of me. Who the hell searches for something so specific? Peter Shankman's a good guy, and I love Helpareporter.com, but this is just strange.
• estonian civil liberty-- where do I begin?

My Internet/Media story involves Helpareporter.com, a relatively new service that helps connect reporters with sources. I've blogged about it before. Well, HARO passed the 10,000 member milestone, and I decided to give it some love. After all, it's done a lot for me. Read the story >>

The other is an op-ed piece on the easing of regulations regarding sexual behavior in the military. As you know, this is an important issue to me, having been a soldier and brought the issue into the mainstream media with articles in Boston magazine and Penthouse (not to mention my award-winning piece in AVN Online last november). Read the story >>

Finally, I have found a home for my Real Estate in Reykjavik article. It's a breezy piece that I hope you enjoy (if you are new to my blog-- if not, you've already read it). The cost to borrow is sky-high in Reykjavik, and it's putting the real estate market at risk. Read the story >>

So, I'd appreciate both your page views and your votes (as Digital Journal allws readers to "vote up" a story). Help make me famous! Please!

“The law of e-discovery has largely been driven by a handful of federal judges who realized early on [that] electronic evidence was going to be a big issue in their courtrooms,” [E-Discovery consultant Mary Mark of Fios] says. “Fortunately, some of them have tackled it aggressively and have given guidance to a lot of other courts and judges.”

When new amendments to the Fed­eral Rules of Civil Procedure for handling electronically stored information went into effect on Dec. 1, 2007, dis­covery was supposed to become easier to manage. Before the new rules were put in place, it was left up to judges to rule on how to handle digital evidence in court—a problem so thorny it often took hundreds of pages in opinions to sort it out.

But even with the new rules, many massive opinions continue to be written on the e-discovery issue. And jurists like [David] Waxse, whom Mack describes as one of the more colorful judges around, are gathering an intense following.

The article spotlights Judges Waxse, Shira Scheindlin, John Facciola, Paul Grimm and Rudi Brewster.

2. He whose profit is likely to grow the most wins in the long term.

3. He who can ensure a legal edge over the competition stays in business the longest.

4. He who can ensure any edge over the competition stays in business the second longest.

5. Once you win, if you do not start playing other games, you will lose.

6. Money right now is important.

7. Future streams of revenue are equally important.