links for 2008-09-07

• Thomas Friedman’s Plan for a Hot, Flat, and Crowded World - Foreign Policy
• Green Gold Rush: Africa Becoming a Biofuel Battleground - Spiegel
• The Link Between Foreclosures and House Prices - NBER Digest
• Derivatives Markets for Home Prices - NBER Digest
• A rebound for autos? - Econbrowser
• Ending the nation-state myth - Project Syndicate
• The Secrets of Storytelling - Scientific American
• Reserve army of underemployed (in China) - Economist.com
• Loan Giant Overstated the Size of Its Capital Base - NYTimes.com

Comments

[hari]

*Ending nation-state myth* - Project Syndicate

This is the most foolish think-piece I've read on the subject from an academic with knowledge on the subect.

After all, he doesn't even mention International Law and the concept of *sovereignty* in international law. May be because neocons have highjacked customary international law and concept of nation-state, as e know it.

Let it be clear, to all students of international affairs, that we're governed by a set of customary international law ratified by nation-states under UN Sytem.

So, the edning of the myth of nation-state doesn't arise in realpolitik in our current age.

[hari]

Die Welt (Germany)- Ex-BP Manager Nick Butler says *oil price
of $40/Barrel is (now) possible....* during anenergy conference in Vienna/Austria.

[anne]

http://www.juancole.com/2008/09/marrin-choice-of-palin-dishonorable.html

September 7, 2008

Marrin: Choice of Palin Dishonorable

A conservative Republican woman who idolizes Margaret Thatcher decries McCain's choice of Palin as cynical and dishonorable:

"In choosing a woman he doesn't know or understand, purely for electoral advantage, he reveals a dishonourable lust for office, a disrespect for women generally and a dishonourable indifference to the future of his country. After all, if this known unknown woman does become president, it will almost certainly be because he himself is dead - quite possible given his age and health - and past caring."

-- Juan Cole

[Sometimes it takes a woman to promote stereotypes of women.]

[Energy]

Thomas Friedman...“Let’s drill, but let’s also throw everything into innovating the next generation of clean-energy technologies,”

Probably a good idea. Oil is running out, regardless of whether we drill more. However, perhaps a non partisan DARPA type project to produce better technology would be more helpful than simply mandating that individual companies figure it out on their own. Small power companies don't have the resources to do basic energy research. Maybe a consortium of energy companies combining their research money into a large research facility would be somewhat helpful too.

[hari]

Anne - Watchout for developments subsequent to waiver of restrictions on India to secure nuclear technology for electricity generating power in a country with prennial defict and daily backouts in urban/city centres. It was made possible by US waiver of technology transfer to India inside the Nuclear Supplier Group (NSG) which waived the restrictions on India - after gurantee by Indian FM.

Pakistan lobbyed hard to stop US promoted waiver...but failed to stop 24 member NSG to approve it early last Sat morning in Vienna/Austria.

What does this lifting of (US) ban of +30yrs nuclear technology ban on India mean?

First, it releases an inward investment in the nuclear energy sector (FDI) of about $40 Billion.

Second, it gurantees India's industrial sector will now est. JVs with foreign parties in the nuclear energy sector subject to approval by Govt of India/Atomic Energy Commission.

Third, China acquiesed and approved NSG waiver on condition India support its policy towards est. Tibetan Autonomous Region, as well as, finally resolving their joint Himalayan boarder demarcation lines, with a view to peaceful co-existnce between the two competing social systems.

Fourth, energy deficiency has had a stranglehold on India's
progress towards domestic self-sufficiency in a number of sectors. Now it cannot be an excuse, any more.

Finally, the modest PM/Economist has been rewarded for his persistent argument that removing poverty will not be possible before India is energy self-sufficient.

Manmohan Singh/PM is the principal winner of this US supported waiver on (NSG) nuclear technology supply to a non-signatory of NPT. India is also not signatory to the Comprehensive Nuclear Testban Treaty. However India has a remarkable record of controlling its indigenous nuclear weapons technology and development - especially from rouge states.

[anne]

http://www.nytimes.com/2008/09/07/world/asia/07india.html?hp&pagewanted=print

September 7, 2008

Atomic Club Votes to End Restrictions on India
By SOMINI SENGUPTA and MARK MAZZETTI

The worldwide body that regulates the sale of nuclear fuel and technology approved a landmark deal on Saturday to allow India to engage in nuclear trade for the first time in three decades, after a pressure campaign by the Bush administration and despite concerns about setting off an arms race in Asia.

Only one hurdle now remains for the deal: final approval by the United States Congress. But passage is likely to be difficult, considering both political opposition and dwindling time in the Congressional calendar before November’s elections.

If the agreement ultimately goes through, it would stand as a symbol of the deepening strategic ties between the United States and India, seen as a potential balancing power to a rising China. It would also be enormously lucrative for sellers of nuclear fuel and technology all over the world; India plans to import at least eight nuclear reactors by 2012, according to projections by the State Department.

State Department officials were ecstatic about the vote Saturday by the 45-nation Nuclear Suppliers Group, or N.S.G. “I don’t think a lot of people thought we’d be able to get this through the N.S.G. this weekend,” said Secretary of State Condoleezza Rice, who was in Algiers.

Both President Bush and the Indian prime minister, Manmohan Singh, have cast the nuclear agreement as a legacy issue. The White House said the two leaders spoke to each other on Saturday.

Indian and American proponents of the deal hailed Saturday’s agreement as a historic opportunity to meet India’s growing energy demands and allow New Delhi to come into what Mr. Singh called “the nuclear mainstream.” Its critics warned that such a sweeping exemption for India, which has developed an atomic weapons program but steadfastly refused to sign the global nonproliferation treaty, sets a dangerous precedent.

Several members of the N.S.G. had in recent days proposed several amendments that would terminate nuclear trade and the sale of secret technologies if India conducts more nuclear tests. The Bush administration had pressed N.S.G. members not to impose such restrictions on India. The exact terms of the agreement were unclear on Saturday night.

Because any agreement requires consensus among the member nations, administration officials had to lean hard on the holdouts, principally Austria, China, and New Zealand.

Ms. Rice made at least two dozen calls over the last two days to push allies to allow for the India-specific waiver, as she traveled across North Africa, according to administration officials who spoke on condition of anonymity. They said she also called the Chinese foreign minister early Saturday morning to urge Beijing not to block the deal.

After three days of fierce debates in Vienna, where they met, the N.S.G. approved the accord. It allows India to buy nuclear fuel and technology for its civilian nuclear power program. India has already agreed to separate civilian reactors from those used in its strategic nuclear weapons program. It has also agreed to allow the International Atomic Energy Agency to inspect the reactors used in its energy program.

Although a senior State Department official said the White House has only two weeks to get the deal through Congress, Ms. Rice told reporters traveling with her that she had been talking to Congressional leaders and was hopeful it could be done....

[hari]

It seems both BO and McCain have strongly approved the waiver sought by State Dept. So it'd seem Congress will also approve it by voice vote - if not objections are raised about NPT.

[anne]

Hari:

Manmohan Singh/PM is the principal winner of this US supported waiver on (NSG) nuclear technology supply to a non-signatory of Non-proliferation Treaty. India is also not signatory to the Comprehensive Nuclear Testban Treaty. However India has a remarkable record of controlling its indigenous nuclear weapons technology and development - especially from rogue states.

[Nice summary.]

[anne]

Hari:

*Ending the nation-state myth* - Project Syndicate

"Let it be clear, to all students of international affairs, that we're governed by a set of customary international laws ratified by nation-states under the UN Sytem.

"So, the ending of the myth of nation-state doesn't arise in realpolitik in our current age."

[anne]

http://www.nytimes.com/2008/09/08/business/08fannie.html?hp&pagewanted=print

September 8, 2008

U.S. Unveils Takeover of Two Mortgage Giants
By EDMUND L. ANDREWS

The four-part rescue plan includes an open-ended guarantee to provide as much capital as Fannie Mae and Freddie Mac need to stave off insolvency.

[Barkley Rosser]

anne,

Marrin's comment is completely reasonable and, aside from the comparison with Thatcher, which many on the right are making, has nothing to do with gender. McCain had met Palin once, clearly did a totally superficial job of vetting her, and she has nearly zero knowledge or experience with foreign affairs, a lot of extreme views, and a history of destroying the finances of her town when mayor, and using her position at both levels to engage in personal vendettas. This is bad news from anybody of any gender.

Thatcher had been head of her party for several years before becoming PM. She was vetted and competent, even if I do not agree with all she did.

[anne]

Barkley Rosser:

"Marrin's comment * is completely reasonable and, aside from the comparison with Thatcher, which many on the right are making, has nothing to do with gender. McCain had met Palin once, clearly did a totally superficial job of vetting her, and she has nearly zero knowledge or experience with foreign affairs, a lot of extreme views, and a history of destroying the finances of her town when mayor, and using her position at both levels to engage in personal vendettas."

* http://www.timesonline.co.uk/tol/comment/columnists/minette_marrin/article4692133.ece

[Sometimes it takes a woman to promote stereotypes of women, but a man will do just as well. I understand, completely. Hillary Clinton, first. Sarah Palin, second.]

[anne]

http://www.theaustralian.news.com.au/story/0,25197,24308697-2703,00.html

September 8, 2008

Obama Opens Fire on Palin
By Robert Lusetich

Los Angeles

WITH fresh polls confirming Sarah Palin has thrust John McCain back into the presidential race, Barack Obama yesterday broke his silence on the omnipresent Republican vice-presidential candidate, directly attacking her for the first time.

The Democrat, who has seen his lead over Senator McCain fall into a virtual dead-heat after last week's Republican national convention, condemned Ms Palin for accepting so-called earmarks - federal funds for often questionable local projects - while a mayor in Alaska but opposing them now.

"I know the Governor of Alaska has been, you know, saying she is (supporting) change," Senator Obama said at a campaign stop in the swing state of Indiana.

"And that is great. She is a skilful politician. But when you (have) been taking all these earmarks when it is convenient, and then suddenly you are the champion anti-earmark person, that is not change.

"Come on. I mean, words mean something. You can't just make stuff up. We have a choice to make and the choice is clear."

But Ms Palin said she was "surprised" the Democratic senator had attacked her on earmarks, saying she "didn't think he'd want to go there".

"Our opponent has requested nearly $1 billion in earmarks in just three years. That's about a million dollars for every working day," she said.

It was thought that Senator Obama would leave the thorny issue of what to do about Ms Palin, whose meteoric rise over the past week has been nothing short of astounding, to Hillary Clinton.

Except that his erstwhile rival for the Democratic presidential nomination has made it clear she will not be an "attack dog" against the self-proclaimed "pitbull in lipstick".

"We're not going to be anybody's attack dog against Sarah Palin," a Clinton insider said yesterday.

The job, then, will probably fall to Joe Biden, Senator Obama's running mate. He needs, however, to avoid the inflammatory language used by his colleague Senate Majority Leader Harry Reid last week, who characterised Ms Palin as "shrill", prompting condemnation from women of all political stripes....

[Barkley Rosser]

anne,

Nothing that I pointed out that is a serious problem for Palin as VP, or more specifically, as President, had anything to do with gender. Please do not argue that what I said had anything to do with her gender, even though Harry Reid said something stupid over the weekend.

Palin deserves to be criticized sharply. She has very serious flaws, none of them connected to her gender at all, but as long as she can frame the debate as being all about whether or not the media is criticizing her family, she wins. I remind that Obama has called for nobody to criticize her family, and I am certainly not doing so. Your accusations and criticisms of my remarks on this matter are offbase, way offbase, as usual.

[Barkley Rosser]

anne,

Just for the record I have done some checking on this matter about Palin and funding for special needs kids. The answer appears to be mixed. First she increased the funding, but then she decreased it again for the 2008-09 budget. Some of her critics used the numbers from the lasts budget before her to criticize her on this matter, which was a mistake. As it is, her defenders do not quite have it right either.