9/11, a Hornet’s Nest: It is Ahmadinezad Again on the UN’s Stage

Yet again, the delegations from the developed countries boycotted UN General Assembly while Iran’s President was delivering his speech. The news agencies reported the United States, 27 countries of the European Union and some others have boycotted the Assembly, when Iranian President began speaking. It has been the consistence and continuous practice of the western countries for years to boycott the speeches of the Iran representatives.

September 11

As usual, the Iranian President used the United Nations to attack the US’ hegemonic policies and Israel’s oppressive regime. He even dared to announce that the most people of the world as well as the US believed that certain sections of the US Government were behind the attacks of September 11, 2001. His contention was that some segments within the U.S. government orchestrated the attack to reverse the declining American economy, and its grips on the Middle East, in order to save the Zionist regime i.e. Israel.

We do not know, and perhaps we may never know, who brought down the twin towers of the WTC. It was only an idea that the al-Qaeda under the leadership of Osama-bin-Laden might have planned and executed the attacks. It was not proved at least notionally, to say that the al-Qaeda or a sort of terrorism was behind the attacks. There was not even an attempt to ascertain what the facts were. Within hours, several stories of several accounts were manufactured by the international print, audio and visual media propagating that Osama-bin-Laden and al-Qaeda were the masterminds behind the killings of people working in the twin towers.

Osama-bin-Laden

Until then, Osama-bin-Laden was unknown to the world but well known to the US’ administrative, military, intelligence and executive establishments. He was the man propped up by the US to build Islamist army for fighting against the Russian presence in Afghanistan. Many of the warlords of Afghanistan were funded by the CIA and other intelligence agencies of the developed countries, fighting to dethrone Russian supported regime then.

China’s Growth Interests US Leaders

 Article first published as China’s Growth Interests US Leaders on Technorati.

US President Barack Obama has changed course, criticizing China for its exchange rate policy. Obama said on Monday that the rapid economic growth of China was in the interest of China. The announcement is interesting, though somewhat contrary to the accusations made against China that it was manipulating its currency value to keep it exceptionally low, making its exports cheaper.

The speech of Mr. Obama was telecast live on CNBC around 10:30 pm IST (GMT+5:30). He was on his way to raise funds for a Democratic Senate candidate for Pennsylvania. He said, in the interview given to CNBC, that China’s strong growth benefited the US. Moreover, he clarified that the US’ growth was also beneficial to China (exports).

The same opinion was acknowledged by the Treasury Secretary Timothy Geithner while giving a report to Congress on Sept. 16, according to Xinhua news agency. He said in his report, “We have very significant economic interests in our relationship with China. A strong and growing China benefits the United States, just as a strong and growing United States is good for China.”

Supreme Court issues interim stay order on Ayodhya case

The Supreme Court ordered the Allahabad High Court to delay its verdict on the ownership of the Babri mosque in Ayodhya. The central and state governments of India are preparing the nation for the outcome of the verdict, which many fear could have raised religious tensions.

The government has banned temporarily issuing bulk SMSes with the fear that the fanatics may spread their message of violent attacks fast. All state governments have appealed to the people to be calm whatever the verdict might be. On international peace day governments ordered all offices to take pledge that they would observe peace.

The decades-old case over the Babri mosque of 16th century has been biggest challenge for the governments as well as people of India. A Hindu mob, patronized by rightist Hindu organization Rashtriya Swayamsevak Sangh (RSS) demolished the five century old mosque claiming that their god Ram borne there and the mosque was built on the structure of temple of Rama. They wanted to correct the mistake committed by the Muslim ruler Babar, a move campaigned by the so called Hindu nationalist party the BJP.

The demolition, the run up to the demolition have sparked religious tensions and violence erupted that killed above 2000 people. The run up to the demolition had made the BJP popular among Hindu voters and brought it to the power for a single term, after which it never came back to power.

Technology for the Sake of Technology and Money

Article first published as Technology for the Sake of Technology and Money on Blogcritics.

Innovation of technology has to be in favor of every citizen of a country and the world. It has to provide more tools for the humankind to be innovative in securing fundamental rights of the citizens. The fundamental rights include right to live, right to express, right for equality and right to peace from violence of any kind. Contrary to it, today’s technology is helping widen gap between haves and havenots. The Technology is helping Wall Street people to gain more wealth per day, but not at all caring about making lives of the common masses easier.

Technology for People

Technology can innovate ways to bring everything before the footsteps of the masses. Instead, it is developing ways to make things more costly so that only wealthy can own them. Technology is helping pull everything away from the common masses.

Technology should help improve the cultural levels of the humankind. It should also help equate the levels of every culture. It has to introduce sensible human values to every nook and corner. It has to develop the culture of politics and economics to the next highest level. Instead, it is interested only in developing next generation technology leaving aside the lagging generations of the masses. The technology is working for the sake of technology and money.

Human Disaster

Technology keeps calm or mostly keeps a warning button, when the people are becoming insensible to the human values of family, children, daughters, parents, friends and neighbors.

Porn industry is the biggest human disaster for the civilized world, augmented if not invented by the information technology. A natural human affection between opposite sexes has become now a public affair for enjoyment, irrespective of viewers being children, adolescents, youth, lovers, married, respected families and elders.

Implications of China Monetary Policy on Global Imbalances

Article first published as Implications of China Monetary Policy on Global Imbalances on Blogcritics.

China’s exchange rate policy has been a contentious issue in the global economy particularly between the China and the West. The West has long been criticizing China for keeping Yuan at an exceptionally lower value. They claim China is in an advantage position due its manipulated lower Yuan value, as it makes China exports cheaper. The US President Mr. Obama accused China as currency manipulator in his earlier days of coming to power.

West’s Concerns

The West says China had pegged Yuan value to the dollar. Yuan value did not change from its value of ¥6.83 a dollar since July 2008. However, China denied the claim on equal tone and resisted pressure from Obama to raise Yuan value. Chinese Premier Hu Jintao said, “Yuan rise would neither balance Sino-US trade nor solve the [US] unemployment problem,” in April during the NSG (nuclear suppliers group) meet in Washington DC.

Many Economists and analysts suggested to China, it would be fair to share the growth of the economy by appreciating the Yuan value, when China recorded 11.9 percent of growth rate in the first quarter. Nevertheless, China did not find any pressing reasons for immediate appreciation of the Yuan value then.

The US Retaliation

The US Treasury Secretary Tim Geithner postponed submitting his report on whether the China was manipulating its currency value or not, to the Congress in April. It was rather a soft approach by the US, hoping China would reciprocate positively by tightening its monetary policy. It was also a revelation that the US was wary of trade war against China. China invested nearly 70% of its vast foreign reserves in the US Treasury bonds.

Deflation Fears Linger for the US, Fed Data Shows

Article first published as US Couple Charged Passing Nuclear Secrets, Couple Denies on Technorati.

Market analysts are predicting that the US may have to face deflation for the coming one or two years. Consumer confidence has fallen to its 13-month low for August month. Even though the consumer prices rose by 0.3 percent and food prices and energy costs have gone up consumer confidence dropped as they are generally ignored due to their volatility. Speculations are floating that the US Federal Bank may resort to large-scale debt purchases. Some analysts reject for such case saying the data was not so weak.

Consumer Confidence

Reuters index of consumer sentiment dropped from 68.9 in August to 66.6 in September’s preliminary reading, Reuters said in a report. Despite encouraging results posted by Oracle Corp and RIM, the Fed data prevented the stock prices from raising that ended nearly flat.

Fed data showed that the household wealth came down by $1.5 trillion to 53.5 trillion due to high unemployment of 9.6 percent. The household wealth had reached its peak $64.2 trillion at the end of 2007 when the US economy began crumbling into recession.

Over Indebtedness

The US government is reeling under over indebtedness for decades. Miguel Valls has mentioned five possible factors that could bring deflation,