Obama’s lease renewed despite tough economic times – Yahoo! News

Obama’s lease renewed despite tough economic times – Yahoo! News.

Barak-Obama-Nader-Nazemi

President Elect Barak Obama

It was a fun election.

WASHINGTON (AP) — His lease renewed in trying economic times, President Barack Obama claimed a second term from an incredibly divided electorate and immediately braced for daunting challenges and progress that comes only in fits and starts.

“We have fought our way back and we know in our hearts that for the United States of America, the best is yet to come,” Obama said.
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The most indebted man in the world owes former employer $6.3 billion | The Sideshow – Yahoo! News

The most indebted man in the world owes former employer $6.3 billion | The Sideshow – Yahoo! News.

Jerome Kerviel, the most indebted man in the world-nader-nazemi

Jerome Kerviel, the most indebted man in the world-nader-nazemi

Talk about being drowning in debt. 

Former financial arbitrage trader Jerome Kerviel is the most indebted man on the planet, owing his former employer $6.3 billion.

The amount Kerviel owes to French bank Societe Generale for fraudulent trades made in 2007 and 2008 would make Kerviel one of the 50 richest people in America if those debts were assets.
But Kerviel cannot even begin paying off his debts until 2015, when he is scheduled to be released from prison. Kerviel recently lost an appeal case in which he argued the corruption at Societe Generale was widespread.
The Atlantic‘s Matthew O’Brien writes that Kerviel managed  €50 billion ($73 billion in unadjusted dollars) worth of unauthorized trades during his tenure at Societe Generale, using a sophisticated scheme of computer hacking and deceptive trades to deceive the bank.

With Christie, Obama vows, ‘We will not quit until this is done’ | The Ticket – Yahoo! News

With Christie, Obama vows, ‘We will not quit until this is done’ | The Ticket – Yahoo! News.

President Barack Obama hugs North Point Marina owner Donna Vanzant as he tours the damage in Brigantine-N.J-nader-nazemi

President Barack Obama hugs North Point Marina owner Donna Vanzant as he tours the damage in Brigantine-N.J-nader-nazemi

Just six days before the election, President Barack Obama toured storm-ravaged areas with New Jersey Gov. Chris Christie. He told Garden State residents struggling in the superstorm’s aftermath that all of America shares their pain—and their government is there to help.

“The main message I wanted to send is the entire country has been watching what’s been happening,” Obama said Wednesday during a visit to the Brigantine Beach Community Center. “Everybody knows how hard Jersey’s been hit.”

(“Except my boss,” shouted Michael Henshaw, 32, a Brigantine resident who works at an insurance company. “Well, except your boss. If you need me to call, you let me know,” Obama replied, drawing laughter from the room. That exchange, and many of the details in this post, are from pool reporter Reid Epstein of Politico.)

Japanese airport closed after WWII bomb found – Yahoo! News

Japanese airport closed after WWII bomb found – Yahoo! News.

Employees deal with passengers at the counter at Sendai Airport in Sendai, northern Japan after flights in and out of the airport were canceled Tuesday-nader-nazemi-

Employees deal with passengers at the counter at Sendai Airport in Sendai, northern Japan after flights in and out of the airport were canceled Tuesday-nader-nazemi-

Whoa …

TOKYO (AP) — A major airport in northern Japan was closed Tuesday after construction workers found an unexploded bomb believed to be from World War II.

All 92 flights in and out of Sendai airport were cancelled after the 250-kilogram (550-pound) bomb was uncovered during construction near a runway, local police official Hiroshi Ouchi said. The bomb was identified as American-made and is believed to be a dud from World War II.

US may soon become world’s top oil producer – Yahoo! News

US may soon become world’s top oil producer – Yahoo! News.

Top Oil Producers-nader-nazemi

This is fascinating. 

NEW YORK (AP) — U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world’s biggest producer.

Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7 percent this year to an average of 10.9 millionbarrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951.

The Energy Department forecasts that U.S. production of crude and other liquid hydrocarbons, which includes biofuels, will average 11.4 million barrels per day next year. That would be a record for the U.S. and just below Saudi Arabia’s output of 11.6 million barrels. Citibank forecasts U.S. production could reach 13 million to 15 million barrels per day by 2020, helping to make North America “the new Middle East.”

The United States will still need to import lots of oil in the years ahead. Americans use 18.7 million barrels per day. But thanks to the growth in domestic production and the improving fuel efficiency of the nation’s cars and trucks, imports could fall by half by the end of the decade.

IHS says the oil and gas drilling boom, which already supports 1.7 million jobs, will lead to the creation of 1.3 million jobs across the U.S. economy by the end of the decade.

“It’s the most important change to the economy since the advent of personal computers pushed up productivity in the 1990s,” says economist Philip Verleger, a visiting fellow at the Peterson Institute of International Economics.

The major factor driving domestic production higher is a newfound ability to squeeze oil out of rock once thought too difficult and expensive to tap. Drillers have learned to drill horizontally into long, thin seams of shale and other rock that holds oil, instead of searching for rare underground pools of hydrocarbons that have accumulated over millions of years.

To free the oil and gas from the rock, drillers crack it open by pumping water, sand and chemicals into the ground at high pressure, a process is known as hydraulic fracturing, or “fracking.”
Production from shale formations is expected to grow from 1.6 million barrels per day this year to 4.2 million barrels per day by 2020, according to Wood Mackenzie, an energy consulting firm. That means these new formations will yield more oil by 2020 than major oil suppliers such as Iran and Canada produce today.
But Saudi oil is cheap to tap, while the methods needed to tap U.S. oil are very expensive. If the price of oil falls below $75 per barrel, drillers in the U.S. will almost certainly begin to cut back.
The International Energy Agency forecasts that global oil prices, which have averaged $107 per barrel this year, will slip to an average of $89 over the next five years — not a big enough drop to lead companies to cut back on exploration deeply.

Gap Pulls “Manifest Destiny” T-Shirt, Gets History Lesson from Outraged Consumers | Fashion – Yahoo! Shine

Gap Pulls “Manifest Destiny” T-Shirt, Gets History Lesson from Outraged Consumers | Fashion – Yahoo! Shine.

Manifest Destiny_GAP_Tshirt_Nader_Nazemi

Ignorance is Bliss …

Ignorance is bliss  …

Clothing giant Gap has pulled a controversial T-shirt off its warehouse shelves after outraged consumers lashed out via social media

The simple, dark-blue T-shirt with “MANIFEST DESTINY” printed on it in stark white letters was part of the “Gap x GQ” collection, a joint effort between Gap and GQ Magazine to showcase America’s best new designers. 

While it might be nice to think that it’s some sort of inspirational mantra, maybe based on The Law of Attraction—Create your own life path! Manifest your destiny!—as McNairy and the PR department of Gap, Inc., have learned, “Manifest Destiny” actually refers to the mid-19th century mindset that white Americans had a divine obligation to claim as much of the continent as possible for themselves, slaughtering and oppressing native people in the process. 

The term was coined in 1845 by John O’Sullivan, a newspaper editor at the Democratic Review, who wrote that the United states should annex Texas and claim the Oregon Country because “that claim is by the right of our manifest destiny to overspread and to possess the whole of the continent which Providence has given us for the development of the great experiment of liberty and federated self-government entrusted to us.” It also was used to justify the idea that people with darker skin were “heathen,” “backwards,” and otherwise less than human. 

Secret Cold War tests in St. Louis raise concerns – Yahoo! News

Secret Cold War tests in St. Louis raise concerns – Yahoo! News.

This is not the first time the US has conducted secret tests on its own citizens. 

ST. LOUIS (AP) — Doris Spates was a baby when her father died inexplicably in 1955. She has watched four siblings die of cancer, and she survived cervical cancer.
After learning that the Army conducted secret chemical testing in her impoverished St. Louis neighborhood at the height of the Cold War, she wonders if her own government is to blame.
In the mid-1950s, and again a decade later, the Army used motorized blowers atop a low-income housing high-rise, at schools and from the backs of station wagons to send a potentially dangerous compound into the already-hazy air in predominantly black areas of St. Louis.
Local officials were told at the time that the government was testing a smoke screen that could shield St. Louis from aerial observation in case the Russians attacked.
But in 1994, the government said the tests were part of a biological weapons program and St. Louis was chosen because it bore some resemblance to Russian cities that the U.S. might attack. The material being sprayed was zinc cadmium sulfide, a fine fluorescent powder.