by Henry Porter, Observer There is a striking likeness in the expressions of George W Bush and Mahmoud Ahmadinejad of Iran as they confront each other over the issues of uranium enrichment and dominance in the Middle East. It falls somewhere between the chastened and defiant playground bully. (more...)Presidents Bush and Ahmadinejad have lost face at home; now others must forge peaceful settlements in the Middle East
email2friend
by Jerry Harris, SolidarityEconomy.net
. Transnational capitalists hedge US investments
In November US investors bought a record number of foreign assets ($39.1B) amid fears of the weakening dollar. Wall Street Banks are also profiting from a boom in global business with international revenues growing three times as fast as their US investments. The world’s biggest bank, Citigroup, said its international revenues jumped 34 percent compared to an increase of about 10 percent in the US. For the first time operations in Europe and Asia earned (more...)email2friend
The distance between the northern suburbs of the Iranian capital of Tehran and the nuclear enrichment facility of Natanz is roughly 180 miles. What transpires on the ground between these two geographical points has seized the attention of the international community, and in particular the government of the United States, as the world wrestles with how best to respond to the issues surrounding Iran's decision to pursue indigenous enrichment of uranium in defiance of the United Nations Security Council's resolution demanding that all such activity cease.
I recently returned from a trip to Iran, where over the course of a week I made the journey from the northern suburbs of Tehran to the gates of the Natanz enrichment facility, and in doing so had my eyes opened. The Iran that I witnessed was far removed from the one caricatured in the US media. I left with the frustrating realization that, as had been the case with Iraq, America was stumbling toward a conflict, blinded by the prejudice and fear born of our collective ignorance.
The first thing that becomes apparent upon arrival in Tehran is that Iran is nothing like Iraq. I spent more than seven years in Iraq and know firsthand what a totalitarian dictatorship looks and acts like. Iran is not such a nation. Once I (more...)email2friend
Flooded with money from soaring oil prices there has been an explosion of investment banks, private equity funds and venture capital coming out of the Middle East. But unlike the 1970s and 1990s when both governments and investors relied on international banks to handle their wealth local transnational capitalists are now guiding their own funds. That means petrodollars aren't being recycled through New York and London but through such firms as Dubai's Istithmar and Abu Dhabi Investment Authority. Funds are expect to hit $10B by 2007. David Jackson, chief executive officer at Istithmar says, "In 2003, people hardly understood what private equity and alternative investments really were; now every other day we get wind of another fund." Says another banker, "In the past, they would just give the money and put it in the US. Now they want to do their own deals…" (more...)email2friend
[SolidarityEconomy.net is proudly powered by WordPress.]
