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Is Afghanistan the Next Saudi Arabia?
June 14th, 2010
The lead article in today’s New York Times, “U.S. Identifies Mineral Riches in Afghanistan,” represents one of the few times this newspaper has actually uncovered a surprise story. Its facts go beyond a few deposits here and there as they convey an amazing amount and variety of riches that could actually transform the country. Geologists have described the results as truly amazing with huge veins of copoper, iron, gold and lithium scattered throughout the country. The amount of iron and copper alone are described as so huge that they would make Afghanistan a “major world producer of both.” How did all this go undiscovered for so long? Well, apparently the Soviet Union conducted preliminary research while they were occupying the country, then Afghan geologists hid the maps during the Taliban’s reign. In 2006, the United States Geological Survey conducted its own aerial survey, and they were so impressed that they flew over the country to conduct three-dimensional imaging. Experts say that the amount of deposits would easily dwarf the country’s current reliance on narcotics and that international bidding on the mineral rights could take place very soon. Meanwhile, the U.S. is trying to set up the internal infrastructure so Afghanistan can manage the situation. Imagine Afghanistan as a rich country with modern facilities and a prosperous citenzry. Truly, many of the last shall be first. BP Success Generates Hope
May 17th, 2010
The lead article in today’s New York Times, titled “In First Success, a Tube Captures Some Leaking Oil,” describes BP’s successful insertion of a drainage pipe into the gusher spewing forth one mil below the sea. While the success comes after more than three weeks of failed attempts, there does now seem to be some hope of containing the source of pollution. In addition, the oil spill, so far, has been kept Goldman Scandal Grows
April 19th, 2010
The lead article in today’s New York Times, “Top Leaders at Goldman Had a Role in Mortgages,” describes the growing scandal arising out of a complaint by the S.E.C. filed on Friday. The complaint alleges that Goldman Sachs, the most powerful investment bank on Wall Street, created mortgage deals known as the Abacus investment, recommended them to its clients, then bet against, or shorted, the very same investments. Now, repercussions from the S.E.C. suit threaten Goldman’s until-now resounding success. Its stock declined by 13 percent on Friday; Germany is threatening legal action; and Gordon Brown, the Prime Minister of Britain, and members of Congress are threatening legal action. And, according to the Times latest investigative journalism, senior executives at Goldman were monitoring the mortgage business intensely. One wonders now whether these executives will face criminal prosecution and a fate similar to management at Enron and other corrupt businesses, whether we will see them handcuffed, arraigned and subject to the same laws that apply to all the rest of us. More significantly, what effect will all this action have on the fragile stock market, just beginning to recover from the Great Recession. It’s just a couple of hours until the opening bell, and I can’t say I am optimistic about what will happen. Paterson Pattern Continues
March 4th, 2010
The lead article in today’s New York Times is titled, “Paterson’s Ethic Breach is Turned Over to Prosecutors.” It describes an additional violation by the Governor, this time regarding free Yankees World Series tickets. Though seemingly a minor misdemeanor, it was compounded by evident perjury regarding the matter. The Governor’s problems boggle the mind. They seem to come from every angle. When he first assumed the Governorship, after Spitzer’s patronizing a prostitute, he admitted to some additional infidelities but was widely praised for his openness. That openness seems to have vanished as the Governor has closeted himself in private offices since the scandal broke. The Paterson pattern goes beyond his own actions and extends to his aides. The chief of the State Police has resigned, and two other aides have been accused of improprities. What is to be done? It seems the calls for resignation will increase and soon become inevitable. One wonders if criminal prosecution looms as well. Will more new scandals come to light? Maybe, only the Governor knows for sure. But every investigative reporter in the state is focusing on him now like a laser beam. I do feel a little sorry for the Governor, though. He never asked for this post and has tried valiantly to execute the duties of the office. Debate Doubts on Afghanistan
November 12th, 2009
The lead article in today’s New York Times is titled, “Envoy Expresses Doubt on Forces for Afghanistan. ” It describes a report by the United States ambassador to Afghanistan, Karl Elkenberry, that contradicts the request by General McChrtstal for 40,000 new troops. The report expresses reservations about including any new troops at all, even going beyond the stance by Vice President Joe Biden. In fact, the recommendation seems to be getting the attention of President Obama who has reportedly been getting cold feet regarding a troop increase. He is particularly concerned about the way to measure progress and the exit strategy. I also think that Mr. Obama’s recent trip to Dover airforce base and a visit to a special section of Arlington Cemetary — where the deceased soldiers from Iraq and Afghanistan are buried — has driven home his ultimate responsibility for both wars. Frankly, I’m glad he is reconsidering. Afghanistan has been a quagmire for colonists for hundreds of years, and there’s no specific reason why we should be the exception to the rule. It is only hubris to think we are different. In fact, Afghanistan is not really a nation state at all. It is a collection of tribal warlords compounded by the inevitable corruption of the drug trade. The country is only one step ahead of Somalia in terms of its national integration. So kudos President Obama for your continuing study of the situation. |
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