Tuesday, August 18, 2009

金大中逝世 韓政壇「三金」時代落幕

(中央社記者姜遠珍首爾特稿)在南韓政壇叱吒風雲達半個世紀的「三金」時代,隨著南韓前總統金大中今天下午1點42分的逝世而落幕。

金大中和前總統金泳三、前國務總理金鐘泌,在南韓政壇被稱為「時敵時友」的「三金」。尤其,金大中於2003年2月25日自第15任總統卸任退出政壇後, 仍然被南韓全羅道民眾奉為「神格化」的人物,這也正是他一直干涉政治、甚至嫡派親信於他住院期間聚集在醫院,被指責為等待接班的主要原因。

1924年1月6日出生於南韓西南部全羅南道荷衣島的金大中,於1950年北韓南侵全羅道木浦期間,曾被北韓軍隊俘虜,關押於木浦中學操場等待處決。適逢美國麥克阿瑟(McArthur)將軍率領的聯軍登陸仁川,駐守於木浦的北韓軍隊匆忙北逃,金大中得以倖免。

但是,他曾在南韓大選期間,被對手陣營指責為有「附匪」的嫌疑,而成為南韓右傾保守勢力一直抵制的頭號人物。

根據南韓「聯合新聞通訊社」的報導,1960年代以來,「三金」縱橫南韓政壇,凸顯了「沒有永遠的同志,也沒有永遠的敵人」的冷酷政治現實。

由於「三金」時而作為同志相互合作,時而又因政治利益而反目成仇,因此,南韓民眾認為,「三金」的關係用「愛恨」兩字來形容,實在遠遠不夠。

在南韓被稱為「政治九段」的「三金」,確曾在南韓政壇留下了無法抹滅的足跡及產生深遠的影響。

金鐘泌於1961年參與姻侄朴正熙將軍發動的軍事政變,並正式踏入政壇。金大中和金泳三則於1967年的新民黨國會總務競選中,主張「應由40多歲的人當最高領導」的論調,並展開了首次競爭後,躍身成為南韓在野黨的新一代領導人,也邁進了相互競爭及合作的時代。

前總統朴正熙於1979年10月26日被他的親信、南韓中央情報部長金載圭槍殺後,「三金」準備推進新的政治改革,但是,隨著同年12月12日主導軍事政變的全斗煥將軍領導的新軍部登場,「三金」遭遇到禁止政治活動的黑暗時期。

金鐘泌後來被指為是濫用權力斂財的頭號人物,財產被沒收;金大中則以內亂陰謀罪一度被判死刑;金泳三則被軟禁在家中。

但嚮往民主化的南韓國民,為「三金」營造了政治活動的空間。透過1987年6 月的民主化抗爭,當時的總統全斗煥終於發表了「6.29民主化宣言」,同意修憲並引進了總統直選制。

但是,金大中和金泳三在1987年底總統大選的在野陣營候選人單一化問題上,未能達成一致意見,兩人雙雙競選第13屆總統。而金鐘泌也以忠清道地區為根據地,參加總統選舉。由於在野陣營的分裂,最後執政黨候選人盧泰愚當選總統。

盧泰愚執政後,在1988年4月的國會選舉中,金大中(平和民主黨)、金泳三(統一民主黨)和金鐘泌(新民主共和黨)分別組建湖南、嶺南及忠清陣營,營造出基於地域情緒的朝小野大格局,同時造就了合作與背叛週而復始的秘密勾結式政治。

1990年,金泳三和金鐘泌參與和執政黨聯手的「三黨統合」(民主正義黨、統一民主黨和新民主共和黨的合黨),並成立巨大的執政黨民主自由黨。金泳三希望 當選執政黨的總統候選人,而金鐘泌為了推進內閣制修憲而參與其中。金大中雖然也得到民自黨的建議,但並未參與合黨。

最終,金泳三先嘗到了甜頭。1992年,他以執政黨總統候選人身分成功當選總統;金大中認輸,並宣佈退出政壇。

隨著金泳三當選總統,「三金」政治表面上似乎落幕,但是這只是另一個階段的開始。金泳三和金鐘泌作為執政黨民自黨的總裁和最高委員代表建立合作關係,但金 鐘泌在金泳三民主陣營下台的壓力下,於1995年退出民自黨,並於同年3 月成立以忠清為根據地的自由民主聯盟。

金大中也在1995年參加地方選舉後,宣佈重返政壇,並以全羅道地區為根據地,成立國民會議。

1996年,「三金」在第15屆國會選舉再次相遇。金泳三率領的執政黨新韓國黨,獲得未過半的139 席,而金大中和自民聯分別獲得79席和50席。

被金泳三遺棄的金鐘泌在1997年的第15屆大選前,與金大中聯手,並透過所謂「DJP」(DJ代表「大中」;JP代表「鐘泌」)聯盟,統一在野黨候選人。金大中在四次參加競選後,終於成功當選,而金鐘泌成為金大中政府的第一任國務總理。

金大中於總統任內的2000年6月由首爾直飛平壤,與北韓國防委員長金正日簽署了旨在促進朝鮮半島和平共榮進而統一的「6.15南北共同宣言」,為分裂達半個多世紀的朝鮮半島帶來了和解合作的一線和平曙光,同時,也為他自己贏得了諾貝爾和平獎。

然而,DJP聯盟也是好景不長。2001年9月,金鐘泌以金大中未遵守內閣制修憲的大選承諾為由,宣佈DJP聯盟正式破裂。

此後的2002年第16屆大選,民主黨候選人盧武鉉當選總統,作為前任總統的金大中退出政壇。

金鐘泌儘管繼續擔任自民聯總裁,但2004年的國會選舉中,自民聯因盧武鉉的彈劾逆風而慘敗,連比例代表議員也未能當選,成為「三金」中最後一位退出政壇。

在動蕩的南韓政壇中,「三金」為實現國家的現代化和民主化做出了貢獻,但也留下了地域主義、老闆政治及金權政治等弊端。「三金」政治的功與過已經成為歷史,只是南韓國內政治格局至今仍未擺脫「三金」所造成的地域主義。

「民間版」災情網被迫關閉?板主回應絕對不會關

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民間版災情網不會關閉「民間版」災情網先前有媒體報導,板主自稱人身安全遭到威脅,還說因為訊息需要「統一」,所以要關掉網站。板主後來聲明目前災情網絕對不會關閉。(畫面擷取自網路)

莫拉克颱風釀成的災害,網友在第一時間自力救濟成立救援網,速度及效率比政府快多了。

先前有媒體報導,板主自稱人身安全遭到威脅,還說因為訊息需要「統一」,所以要關掉網站。消息一出,網友反彈紛紛把矛頭指向政府,質疑這是政府要封口,還哀求不要關掉網站。

留言透露無奈,最大救援網站的網站架構人,表示不希望自己和家人的人身安全

受到威脅,而且因為訊息需要「統一」,所以選擇關閉網站,當事人沒有出面,只因此造成網友的不滿,把矛頭指向是政府要封口。

上面的內容多的是上網求援,著急等待消息的網友,網站被迫喊卡。又少了一線希望,許多人哀求不要關,更多的是質疑要「統一」災情的反彈聲浪。

但目前災情網卻顯示絕對不會關閉,板主聲明今後不管受到什麼樣的壓力,只要還能再幫助一個人、再救一條人命,就要堅持下去。

以下為「民間版」莫拉克災情資料表網站(左上角顯示絕對不會關閉)

http://typhoon.oooo.tw/

板主聲明稿

這 48 小時內,收到了上百封感謝、以及希望不要關站的信。

這些信、這些留言讓我重新思考是否要關站…

8/8 那天晚上,台北風雨很小,看不出來有颱風假這回事,晚上在家裡上

Ptt 時,看到八卦板上似乎有些人講到有淹水的事,而且求救訊息愈來愈

多,語氣也不像是開玩笑...

「拜託趕快送物資到林邊」

「高樹鄉的堤防已經潰堤啦!!!!」

「有鄉民快要滅頂了」

「拜託幫我打救援電話!!!!!」

這讓我意識到,真實的「天災」出現了。

雖然從小沒遇過淹水,但也曾聽過八七水災所造成的災情,在家附近就有

這樣的一塊區域,充滿方方正正的棋盤狀道路,後來聽了長輩講,才知道

是水災後把房子和道路全部都帶走了,留下一整片爛泥,只好重新規劃。

水災帶來的損害是永久的,若能在第一時間有即時的訊息傳遞和協助,生

命和財產的損失可以降低非常多。眼看板上的資訊很混亂,分佈在各篇文

章之中,所以找了 Shadow 先寫出一個簡單的災情回報網頁,希望能在水

災中幫得上忙。

本來我想說板上看來應該是十幾個災情而已,沒想到早上一看居然破百,

而且增加的速度並沒有減緩。這讓我實在愈來愈擔心災害不斷的擴大,好

幾天都睡不好。

現在災情雖然較少了,但仔細看,仍有許多人流離失所、沒有物資、聯絡

不上親友,但站上仍有許多熱心的人,不斷的提供物資、應變方式、名單

等,讓更多人受其他人受到幫助,也減少了大家的緊張。有時會收到各方

傳來的感謝訊息,也讓我非常感動。

在災難發生時,即時、通暢的訊息傳遞真的是非常重要的。當初和Shadow

熬夜寫了這樣子的一個網站,本來的目的就是為了幫助人,今後不管受到

什麼樣的壓力,只要還能再幫助一個人、再救一條人命,那就是對的事情

,就要堅持下去。

by Rickz,

馬總統終鞠躬認錯道歉 聲哽咽

莫拉克颱風重創南台灣,媒體質疑政府手忙腳亂,總統馬英九今天下午召開中文、英文記者會,接受媒體提問,說明救災立場。

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義消救災殉職 總統慰問家屬(1)南投義消張瑞賢執勤殉職,總統馬英九 (左2)15日前往南投名間鄉弔唁並慰問家屬,張瑞賢的太太因極度悲傷,癱軟在地,馬總統紅著眼眶將她扶起。中央社記者林恆立南投傳真 98年8月15日

 總統府表示,記者會除馬總統、副總統蕭萬長、總統府秘書長詹春柏、副秘書長高朗與賴峰偉,以及行政院災害防救委員會主委邱正雄、中央災害應變中心指揮官毛治國都出席記者會。

記者會一開始,馬總統就帶領官員起身向全體同胞鞠躬致歉,並且提到身為中華民國總統,他會為這次八八水災負起全部責任,後續也會根據這次經驗全面檢討救災 系統,並儘快展開災後重建,未來更將加強災害預防的觀念,提醒國人防範災害於未然。並說明現在還處在救災階段,等到救災結束後會再進行追究責任進行懲處的 動作,時間一定會在九月之前進行。

這次記者會是馬總統在八八水災後,首次在公開場合向全國同胞道歉。

胡潤報告:中國富豪消費品價格漲幅趨緩

(中央社記者郭玫蘭台北18日電)根據中國一項「2009富豪消費價格指數」顯示,今年中國的富豪消費價格指數為4.6%,較去年同期減少8個百分點,比同期的CPI高6.3個百分點,今年中國富豪消費品價格漲幅已趨緩。

   胡潤研究院今天發佈「2009富豪消費價格指數」,這是胡潤研究院連續3 年發佈此指數。胡潤研究院這次是調查分析車、遊艇、手錶珠寶等8 大類,共59項與高品質生活方式相關的商品,對比它們在6月1日和1 年前的市場價格,平均漲幅為4.6%,遠低於去年同期 12.6%的上升幅度,其中有12項商品維持原價。

  而根據中國國家統計局新公佈的資料顯示,6 月消費者價格指數(CPI)較去年同期下降 1.7%,相比之下,今年富豪消費價格指數比同期居民消費價格指數高出6.3個百分點。

  胡潤表示,儘管今年富豪消費價格指數同比減少 8個百分點。但是受到通貨膨脹影響,奢侈品價格還是緩慢上揚。

  「2009富豪消費價格指數」顯示,今年富豪消費品價格繼續上揚,但是漲幅趨緩。3 年來,富豪消費品的價格上漲速度是普通消費品的1.2倍。

  調查指出,儘管煙酒類商品價格平均漲幅最高,但全是酒類品牌價格看漲。例如價格為人民幣2 萬4200元的李察軒尼詩,漲幅高達21%,去年同期價格為1萬9999元。

  EMBA教育類價格漲幅平均漲幅為9.5%。受市場供求關係影響,去年1年長江商學院EMBA學費漲幅高達30%。

  休閒類商品價格平均上漲5.8%,例如九龍山馬球會入會費,比去年上漲36%,價格高達45萬元。。

  胡潤研究院的資料還顯示,旅遊類、房產家居類商品的平均今年皆有所下降,其中跌幅最大的是旅遊類,其平均跌幅由去年3.5%跌到6.5%。

  去年漲幅最高的房產家居類商品今年的跌幅僅次於旅遊類,下降1.8%。

  與去年的大幅上漲( 12.1%)不同,手錶和珠寶類商品今年維持近乎持平的價格, 平均漲幅僅為2.1%。

   在大陸汽車市場銷售量不斷攀升的情勢下,豪華進口車的漲價主要是因為9月1日起實施的乘用車進口環節消費稅的調整,將氣缸容量3.0升以上(不含3.0 升)到4.0升(含4.0升)的乘用車進口環節消費稅稅率由 15%上調到25%;將氣缸容量4.0升以上的乘用車進口環節消費稅稅率由20%上調到40%。

  「2009胡潤財富報告」調研顯示,中國頂尖消費群體中,資產人民幣1千萬元人以上有82萬5000人,資產1億元以上有5萬1000人。

香港最新失業率維持5.4%

(中央社記者王曼娜香港18日電)香港政府今天公布,由於香港經濟開始反彈,使勞工市場表現回穩。今年5至7月份失業率維持5.4%,而就業不足率由2.3%微升至2.4%。

 港府統計處公布,失業人數由今年4 至6月的20萬3000人,升至5至7月的21萬3800人,約增加10萬800人。同期間,就業不足人數由8 萬4900人升至8萬8600人約增加3700人。

 今年5至7月與4至6月比較,失業率下跌較明顯行業包括裝修及保養工程、金融和藝術、娛樂及休閒服務。

同期間,就業不足率上升主要是膳食服務業、倉庫及運輸輔助服務業。

  香港總就業人數由今年4 至6月的350萬6200人,下跌至5至7月的350萬5300人,約減少900人。同期間,總勞動人口由370萬9200人,上升至371萬9000人的歷史性高位,約增加9800人。

  香港勞工及福利局局長張建宗表示,雖然勞工市場出現持續回穩的跡象,但由於整體營商氣氛仍然審慎,僱主在增聘人手時傾向保守,失業率短期仍有上升壓力,加上8 月是新畢業生投入勞工市場的高峰期,預料整體就業壓力在未來1、2個月會全面反映出來。

美商業放款公司CIT連虧9季 虧損縮減

(中央社台北18日綜合外電報導)竭力避免破產的美國中小企業的商業放款機構CIT集團公佈連續第9季虧損,因壞帳準備增為3倍多。

總部在紐約、有101年歷史的CIT集團 (CIT Group)在申報資料中指出,第2季淨損縮減至16.2億美元或每股4.30美元,上年同季淨損20.7億美元或每股7.88 美元。分析師原估每股虧損1.53美元。

執行長匹克 (Jeffrey Peek)正與債券持有人磋商,並考慮出售資產以避免走上破產一途。

這家對100萬家左右的中小型企業提供融資的銀行,過去9季累計虧損逾50億美元,主因壞帳激增,並被商業票據市場拒於門外。商業票據市場一向是該公司的資金來源。

CIT第2季壞帳準備增至5.885億美元,是上年同季的1.522億美元的3倍多。

該股股價週一下跌5美分或3.6%,收1.36美元。財報發布後股價在盤後交易中上漲至1.39美元。

(譯者:中央社趙蔚蘭)

5 Tips to Avoid Being Scammed

  1. Don't pay up-front fees. Foreclosure consultants are prohibited by law from collecting money before services are performed.
  2. Don't ignore letters from your lender or loan servicer. Responding to those letters is your best bet for saving your house.
  3. Don't transfer title or sell your house to a "foreclosure rescuer." Beware! This is a scam to convince homeowners they can stay in the home as renters and buy their home back later. It might also be part of a fraudulent bankruptcy filing. Either way, a scammer can then evict the victim and take the home.
  4. Don't pay your mortgage payments to anyone other than your lender or loan servicer. Mortgage consultants often keep the money for themselves.
  5. Never sign any documents without reading them first. Many homeowners think that they are signing documents for a loan modification or for a new loan to pay off the mortgage they are behind on. Later, they discover that they actually transferred ownership of their home to someone who is now trying to evict them.

Dow Jones Industrial Average

9,135.34 -186.06 / -2.00%
Aug 17
Open: 9,167.84
High (day): 9,220.28
Low (day): 9,078.28
YTD%Change: 4.09%
Volume: 207,037,100.00
Prev. Close: 9,321.40
52-Week Range (Low - High): 6,469.95 - 11,790.17
Time Frame
previous day close Advanced Charts



Dow-186.06-2.00%9,135.34
NASDAQ-54.68-2.75%1,930.84
S&P-24.36-2.43%979.73
DJ Totl Mkt-260.93-2.53%10,072.34
Russell 2000-15.72-2.79%548.18
Philadelphia Semiconductor-8.73-2.96%285.92
Dow Transports-129.90-3.51%3,576.02
Dow Utilities-5.58-1.50%367.49
NYSE Composite-185.71-2.84%6,352.11
AMEX Composite-46.18-2.74%1,640.67
Morningstar Index-61.94-2.50%2,417.60
Open Market Closed *as of previous close

U.S. builders upbeat, manufacturing shows some life

NEW YORK (Reuters) - More signs the U.S. economy was exiting its worst recession in 70 years emerged on Monday with reports showing confidence rising among homebuilders, factory activity perking up in New York state and credit card defaults slowing.

The data, however, failed to stem worries on Wall Street about weak U.S. consumer spending and the staying power of any economic recovery, as major indexes closed sharply lower.

The National Association of Home Builders and Wells Fargo said their Housing Market Index edged up one point to 18 in August -- the highest level since June 2008 and the second consecutive monthly gain.

A separate report from the New York Federal Reserve showed activity at New York state factories grew for the first time since April 2008, suggesting manufacturers could lead the economy out of its worst downturn since the Great Depression.

"The jump in the Empire State manufacturing index in August back into positive territory supports other evidence that the recession ended around the middle of the year. But the strength of the recovery remains in question," said Paul Dales, U.S. economist at Capital Economics in Toronto.

Industry data showing U.S. credit card defaults stabilized in July suggested consumers are in better financial shape than feared, even though defaults and delinquencies rose at big card issuer Capital One Financial Corp.

The last Fed quarterly survey of senior loan officers showed U.S. loan demand fell in the second quarter for every major category except prime residential mortgages, while banks tightened credit standards at a less-intense pace than in the first quarter.

A string of data has now hinted the recession that began in December 2007 is near or at a close, but worries of an anemic, short-lived recovery have been hard to shake as consumers battle with high unemployment and dwindling incomes.

An announcement by Lowe's, the country's second-biggest home improvement retailer, that it was slowing expansion plans added to the angst and weighed on stocks. The Dow Jones industrial average slid 2 percent.

Sentiment was also soured by weak economic figures from Japan, giving U.S. government bonds a safe-haven boost.

DEFAULTS STABILIZING

The Federal Reserve announced the extension to mid-2010 of an emergency program aimed at boosting lending to the sickly commercial real estate market, recently cited by U.S. central bank officials as a threat to the economy's recovery if borrowers with maturing loans defaulted.

The extension of the Fed's Term Asset-Backed Securities Loan Facility, or TALF, is aimed at halting the decline of commercial property markets, widely regarded as the next shoe to drop for many already debilitated smaller- and medium-sized domestic banks.

"The announcement is not that much of a surprise," said Marc Chandler, chief strategist at Brown Brothers Harriman in New York. "It is clear officials remain concerned about the commercial real estate market and are not yet convinced that the securitization machine is up and running again."

The residential housing market's three-year slump shows signs of turning the corner. In the NAHB survey, the sales expectations measure for the next six months climbed four points in August to 30. The traffic of prospective buyers index rose three points to 16 in the same month.

Photo

"There is definitely a sense of hope among builders that the worst of the downturn is over and that a turning point is near at hand," said NAHB Chief Economist David Crowe.

The New York Fed's "Empire State" survey also showed improvement in its employment measure.

"The employment index provides an additional signal that manufacturing payroll losses are moderating," said Abiel Reinhart an economist at JPMorgan in New York.

By John Parry

Poll: 57% don't see stimulus working

WASHINGTON - Six months after President Obama launched a $787 billion plan to right the nation's economy, a majority of Americans think the avalanche of new federal aid has cost too much and done too little to end the recession.

POLL RESULTS: Six questions

A USA TODAY/Gallup Poll found 57% of adults say the stimulus package is having no impact on the economy or making it worse. Even more - 60% - doubt that the stimulus plan will help the economy in the years ahead, and only 18% say it has done anything to help improve their personal situation.

That skepticism underscores the challenge Obama faces in trying to convince the public that the stimulus has helped turn the economy around. It also could complicate the administration's plans to overhaul the nation's health care system.

"This is a wake-up call for the administration." says House Minority Whip Eric Cantor, R-Va. "People see the stimulus hasn't worked, and now you want to lay on over $1 trillion in a health care plan."

The administration declined to comment on the poll results.

The stimulus package contains $288 billion for tax cuts and $499 billion in new spending, much of it meant to pay for unemployment and other social services. The $1 billion "cash for clunkers" program was not part of the bill, although its $2 billion expansion comes from stimulus funds.

The government has allocated more than $200 billion in aid. Since the plan began, however, the recession has left an additional 2.2 million Americans without jobs, according to Labor Department surveys.

Economists generally say the recession would have been worse without the stimulus, though they disagree widely on how much it has helped.

"The economy was like a huge pothole we had to fill, and what we did was throw a little gravel in the bottom. You don't fill the hole, not even close. But you make it better," says University of Oregon economist Tim Duy. "Many people don't see the effects so they assume it's not working."

The poll Aug. 6-9 of 1,010 adults has a margin of error of +/-4% for the full sample. In a question asked of a subsample, 51% of Americans say the government should have spent less on the stimulus; 31% say the amount was "about right." Also, almost half in the full sample say they are "very worried" that stimulus money is being wasted.

By Brad Heath, USA TODAY

Dow ends day down 186 points

NEW YORK — Investors are finding out what everybody else already knew: The consumer isn't going to spend the economy into recovery.

Major U.S. stocks indexes tumbled by the biggest amount in six weeks Monday as investors grew worried that they have been too quick to bet on an economic rebound during the market's five-month rally. Overseas markets plunged and investors' demand for safe-haven investments sent the dollar and Treasury prices shooting higher.

The Dow Jones industrial average skidded 186 points and the major indexes fell at least 2 percent. The Nasdaq composite index was hardest hit, falling 2.8 percent, but it also had the biggest advance as Wall Street rallied this year.

A shudder in China's main stock market touched off a wave of selling that spread to Europe and then the U.S. A drop in quarterly profits at home improvement retailer Lowe's Cos. added to worries that an improvement in the economy is far off.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said the selling was warranted.

"The economics obviously don't support where we've been," he said.

The slide on Wall Street was steep but felt more controlled than the plunges of the past year because stocks ended just off of their worst levels and because analysts have been calling for a retreat after the Dow and Standard & Poor's 500 index raced up 15 percent in only five weeks.

The Shanghai stock market tumbled 5.8 percent Monday as investors worried that stocks had risen too quickly and that the Chinese government would tighten bank lending policies. Investors outside China have been hoping that strengthening there would spill over to other economies.

Worries grew when Lowe's said consumers are putting off big purchases. That's troubling because consumer spending accounts for more than two-thirds of U.S. economic activity.

Some investors used to seeing a quick bounce-back in stocks have underestimated how difficult the recovery could be, even though many analysts have warned that it could take well into 2010 for the economy to regain strength. And some traders seem to be in the same mind-set as three years ago, willing to take big chances even when there was little economic or corporate evidence to justify a huge advance.

Now, with consumers facing high unemployment, weak home prices and mounds of debt, investors are worrying that they had grown too optimistic even though the stock market tends to improve before the economy after a recession.

Quincy Krosby, market strategist for Prudential Financial, said investors are often divided at turning points in the economy because not all signs will point to recovery at once.

"The market and the data have been like a Rorschach test," she said.

The fears about China's recovery and consumers are contrasting with the market's reaction earlier this month to more upbeat signals, like an unexpected drop in the nation's unemployment rate during July.

Krosby said the earnings reports that drove stocks in the past month have largely been factored in, and now investors are finding little to convince them the economy is improving.

According to preliminary calculations, the Dow fell 186.06, or 2 percent, to 9,135.34. The Dow had been down almost 205 points at its low of the day.

The broader S&P 500 index fell 24.36, or 2.4 percent, to 979.73, while the Nasdaq fell 54.68, or 2.8 percent, to 1,930.84.

It was the biggest drop for major stock indexes since July 2, when a weak employment report fanned worries about the economy and pushed stocks down more than 2.5 percent.

About 2,700 stocks fell while only 335 rose on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.1 billion Friday.

The S&P 500 index surged 49.7 percent from a 12-year low of 676 in early March to 1,013 last week. The index, which is the basis for many investments like mutual funds, has in the past 60 years hit bottom on average four months before a recession ended and about nine months before unemployment reached its peak.

Meanwhile, the yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.47 percent from 3.57 percent late Friday.

Many analysts say stocks have piled on gains too quickly.

"We have come an awful long way. To not expect a sell-off after the degree of increase — I think you're dreaming," said John Merrill, chief investment officer of Tanglewood Wealth Management in Houston.

The Chicago Board Options Exchange's Volatility Index, also known as the market's fear index, surged 14.9 percent to 27.9. The VIX is down 30 percent in 2009 and its historical average is 18-20. It hit a record 89.5 in October at the height of the financial crisis.

Overseas, China's main market fell 5.8 percent as investors worried that stocks had risen too quickly and the government would tighten bank lending policies. Japan's Nikkei stock average fell 3.1 percent as investors weren't satisfied by news that the country had emerged from recession in the second quarter.

In Europe, Britain's FTSE 100 fell 1.5 percent, Germany's DAX index lost 2 percent, and France's CAC-40 fell 2.2 percent.

Commodity prices slid as investors grew worried that demand would fall. A barrel of crude oil fell 76 cents to settle at $66.75 a barrel on the New York Mercantile Exchange. It is down more than 5 percent in two days.

Among companies reporting results Monday, Lowe's fell $2.36, or 10.3 percent, to $20.47.

The dollar rose against other major currencies, while gold prices fell.

The Russell 2000 index of smaller companies fell 15.72, or 2.8 percent, to 548.18.

Traces of cocaine found on up to 90% of dollar bills in American cities

Dollar bills

Photograph: Getty/Piet Mall

It's an image much beloved of Hollywood directors: the head lowered over a mirror, a crisp greenback tightly rolled and inserted in a nostril, then applied at the other end to a line of white powder.

Researchers from the American Chemical Society in Washington have discovered that the practice of consuming cocaine through rolled up paper money is far more than just a cinematic cliché. They found that in big cities in the US, up to 90% of the notes tested positive for traces of the drug.

In Washington itself, the percentage of notes with cocaine residue reached 93%, a prevalence almost matched by other urban areas such as Boston, Detroit and Baltimore.

Though some of the contamination can be blamed on cocaine crystals being rubbed from one note onto others in bundles of currency, the researchers did find an apparent growth in the phenomenon. Similar tests conducted two years ago found that only 67% of US banknotes had cocaine traces.

The study put that growth down to a probably increase in cocaine consumption in America, where there are thought to be as many as 6 million regular users of the drug.

For the first time, the researchers compared the results with tests on banknotes from other parts of the world. After the US and Canada, Brazil recorded almost as high a frequency of cocaine residue, at 80% of its paper money.

China (20%) and Japan (16%) were notably lower on the scale.

Any film directors hoping to be authentic in their portrayal of cocaine snorting should note that the researchers found that in the US the bills of choice of cocaine consumers were $5, $10, $20 and $50. Both the modest dollar note, and the more elusive $100 note appear to be rarely deployed as an aid to nasal intoxication.

Ed Pilkington in New York

Obama Gives Up On Healthcare Public Option

Check this link ...... http://tinyurl.com/m98us2

Dr. Ian Plimer on Alex Jones Tv:Holdren’s Sterilization Plan = Genocide!!

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www.infowars.com

Is Obama-Care a Sick Joke?

Check this link ..... http://bit.ly/e7CJ7

The United States of Corporate Welfare

Need more evidence of Corporate Welfare? Remember the $2.7 billion allocated under TARP that went to British rum producer Captain Morgan?

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Thanks to DownsizeDC.org for this:

Quote of the Day: "Even in the best economic times, you won't find an investment with a greater payoff than what these companies have been getting." -- Sheila Krumholz, Executive Director of The Center for Responsive Politics

The Congressional Oversight Panel charged with monitoring the T.A.R.P. bailout scheme thinks more bailouts may be needed.

In case you've forgotten . . .

* T.A.R.P. stands for Toxic Asset Relief Program
* The T.A.R.P. was supposed to spend $700 billion buying so-called toxic assets from institutions that were supposedly too big to fail, but . . .
* After Congress said yes to this proposal the Treasury Department instead used the funds to buy stock in major banks
* In other words, The Toxic Asset Relief Program ended up having nothing to do with toxic assets

It gets worse. According to Wikipedia . . . .

"On February 5, 2009, Elizabeth Warren, chairperson of the Congressional Oversight Panel, told the Senate Banking Committee that during 2008, the federal government paid $254 billion for assets that were worth only $176 billion."

And even worse . . .

"During 2008, the companies that received bailout money had spent $114 million on lobbying and campaign contributions. These companies received $295 billion in bailout money."

Thus, our quote of the day. Spending $114 million on lobbying to gain $295 billion dollars from the taxpayers is a hell of a deal. Many thoughts flow from this . . .

* Those who told us that strong campaign finance laws would curtail corruption were wrong
* Those who tell us we need Big Government to control evil corporations overlook the fact that big corporations want big government, because they benefit from it, and largely control it
* The same kind of lobbying and corporate control is behind the scheme for increased government involvement in health care
* And the $800 billion stimulus bill was another heaping helping of corporate welfare too

Sadly, this isn't a new development. President Obama and the Democratic Congress are just continuing the policies of President Bush and the Republican Congress . . .

* Go back and scratch beneath the surface of Bush's prescription drug program and you'll find that it was mostly a corporate welfare scheme for Big Pharma.
* In addition, T.A.R.P. was passed under Bush and the Republican Congress.

As long as partisan loyalists continue to believe that their particular political party, and their particular political savior (be it Obama, Bush, whoever) is somehow different, we'll continue to be victims of the same insanity. And at some point we might as well change the country's name to . . .

The United States of Corporate Welfare

Here's the bottom line . . .

* If you want to stop the looting then you need to be heard to the same extent as the Big Corporate lobbyists.
* We created DownsizeDC.org to bring that about.
* But it isn't something we're going to achieve in a Big Bang.
* It's going to happen bit by bit and day by day -- because that's how real change usually happens.
* In fact, that's how the United States of Corporate America was created in the first place.

Please use DownsizeDC.org's Educate the Powerful System (sm) to send your Congressional employees another message opposing corporate bailouts.

Tell them you object to the Congressional Oversight Panel's report calling for T.A.R.P. to finally be used to buy toxic assets. If the past is any guide then these assets will be bought at above market prices, and will just be one more heaping helping of corporate welfare.

You can use DownsizeDC.org's "No Bailouts" campaign to send your letter.

Jim Babka
President
DownsizeDC.org, Inc.

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Has Obama Sold Out Already?

Check this link .... http://bit.ly/1yv2sk