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Friday, June 3, 2011

Did Robert Gates Terminate 30 DOD Hardware Programs Saving $300 Billion? Winslow Wheeler

With permission:

Did Robert Gates Terminate 30 DOD Hardware Programs Saving $300 Billion?

Winslow Wheeler

For months I have been reading in the press about Robert Gates "cancelling more than 30 [defense hardware] programs."  A May 24 Bloomberg article by Viole Gienger ("Gates Says Military Cuts May Protect F-35, Submarines") came up quick on a Google search.  Other articles credit Gates with "saving more than $300 billion" with these - presumably tough - decisions.

In case you are wondering where this imagery of Secretary of Defense Robert Gates as a tough task master for out of control DOD procurement is coming, you need look no further than Robert Gates.

At a May 24 farewell speech to the American Enterprise Institute in Washington, Gates repeated his own claim, made frequently earlier, that "All told, over the past two years, more than 30 programs were cancelled, capped, or ended that, if pursued to completion, would have cost more than $300 billion."  (See the speech at http://www.defense.gov/speeches/speech.aspx?speechid=1570.)  A bit later he hammered home the point in case any of the press present missed the legacy Gates seeks for himself: ".when it comes to our military modernization accounts, the proverbial 'low hanging fruit' - those weapons and other programs considered most questionable - have not only been plucked, they have been stomped on and crushed."

Robert Gates did not reduce the number of hardware programs in the Department of Defense; he increased them.  A term he has repeatedly expressed distaste for ("math") proves him wrong.  DOD keeps periodic records on these sorts of things; DOD's Selected Acquisition Reports (SARs) track the number of major hardware programs and their acquisition costs.  (Find them at http://www.acq.osd.mil/ara/am/sar/.) They show the following:

  • In September 2008, just before Barack Obama was elected and selected Robert Gates as his Secretary of Defense, there were 91 Major Defense Acquisition Programs (MDAPs).  They were projected to cost $1,648 billion dollars.

  • In April 2009, Gates announced the termination of various defense programs.  The SAR that next came out, in December 2009, showed the number of MDAPs had indeed declined: to 87 programs, costing a little less ($1,616 billion).

  • Nine months later, after Gates took some more whacks at the defense budget - if that's what you want to call them - the SAR that came out in September 2010 showed the number of MDAPs had increased to 94.  Their cost also increased - to $1,679 billion.

  • The most recent SAR, for December 2010, shows another increase, both in programs (to 95) and money (to $1,720 billion).

So, thanks to Secretary Gates "termination" of more than 30 programs "saving" us $300 billion, we now have an increase of four programs costing an additional $72 billion.

I have two questions: 

1)     Just what legacy should we be giving Mr. Gates?

2) What type of "math" will Leon Panetta use when he is made Secretary of Defense later this year?

_____________________________
Winslow T. Wheeler
Director
Straus Military Reform Project
Center for Defense Information
301 791-2397

June 5 march on Jerusalem

Palestinians on the West Bank are promoting non-violent marches this Sunday to mark 44 years of illegal military occupation.  The organizers are circulating this message  on the Internet:   http://www.youtube.com/watch?v=0spoiaZLYs0

How to resolve the War Powers impasse

How to resolve the War Powers impasse

Libya is important but the U.S. Constitution is ultimately what we’re fighting for.

By Bruce Ackerman and Oona Hathaway

Professors of Law at Yale University


Arguing over the ABC and D of the crisis

Arguing over the ABC and D of the crisis Fiscal consolidation is necessary now. The doubts are simply over timing, speed and flexibility, because today private indebtedness is high, banks fragile and interest rates low, writes Martin Wolf
http://link.ft.com/r/IOCBMM/RNR4XJ/OJS3XZ/LQXAIO/EW7A77/4O/h?a1=2011&a2=6&a3=3

It’s all about the bank bail-outs, stupid . . . 

It’s all about the bank bail-outs, stupid . . .  It is the spectacle of bankers and imprudent homeowners being rescued, as well as the reality of sharply increased government spending and federal budget deficits, that may be decisive in the US Republican party’s nomination battle, writes Michael Barone
http://link.ft.com/r/IOCBMM/RNR4XJ/OJS3XZ/LQXAIO/40GH8K/4O/h?a1=2011&a2=6&a3=3

Financial Times - Energy 6/3


FT.com - Energy
 

KKR invests in European wind farms
http://link.ft.com/r/19JYUU/TPNX7W/6VC7TN/M9KOHJ/UUFJIM/D5/h?a1=2011&a2=6&a3=3
 
Gazprom seals deal to supply LNG to India
http://link.ft.com/r/19JYUU/TPNX7W/6VC7TN/M9KOHJ/WL3FQZ/D5/h?a1=2011&a2=6&a3=3
 
Glencore aims to win over detractors
http://link.ft.com/r/19JYUU/TPNX7W/6VC7TN/M9KOHJ/8A06T9/D5/h?a1=2011&a2=6&a3=3
 
Cairn seeks Greenpeace injunction
http://link.ft.com/r/19JYUU/TPNX7W/6VC7TN/M9KOHJ/QF9EX8/D5/h?a1=2011&a2=6&a3=3
 
Opec considers increase in oil output
http://link.ft.com/r/19JYUU/TPNX7W/6VC7TN/M9KOHJ/M9YKM8/D5/h?a1=2011&a2=6&a3=3
 

FT.com - Utilities
 

Germany's nuclear U-turn may well empower France
http://link.ft.com/r/19JYUU/TPNX7W/6VC7TN/M9KOHJ/IYW52H/D5/h?a1=2011&a2=6&a3=3
 

FT.com - Mining
 

Bulls and bears clash over China's commodities exports
http://link.ft.com/r/19JYUU/TPNX7W/6VC7TN/M9KOHJ/40GHPK/D5/h?a1=2011&a2=6&a3=3
 

Opec considers increase in oil output

Opec considers increase in oil output http://link.ft.com/r/TWK799/TPNXWY/268VPS/GK70KW/JIX45E/7V/h?a1=2011&a2=6&a3=3

Editor's Note

Dear Readers
I will be attending my son's graduation on Friday, June 3rd, 2011. Will resume
posting this weekend.
Best Regards.
Michele Kearney

Shame on us for pulverizing Libya

Shame on us for pulverizing Libya
The war may have started with good intentions, but now we're just wrecking the place

American Progressivism and the Obama Presidency

American Progressivism and the Obama Presidency

Norman Birnbaum.  Erudite, witty, insightful, and prize-winning. (Crick Prize Essay for 2010)   http://onlinelibrary.wiley.com/doi/10.1111/j.1467-923X.2010.02130.x/pdf

 

The Rise of the Islamists Shadi Hamid

The Rise of the Islamists

Shadi Hamid
The recent turmoil in the Middle East may lead to the Arab world's first sustained experiment in Islamist government. But the West need not fear. For all their anti-American rhetoric, today's mainstream Islamist groups tend to be pragmatic -- and ready to compromise if necessary on ideology and foreign policy. Read

Globalization and Unemployment

Globalization and Unemployment

Michael Spence
The May employment report is expected to show slow jobs growth, renewing pessimism about the U.S. economy. Spence, a Nobel Prize-winning economist writes that economic growth and employment in the United States have started to diverge, increasing income inequality and reducing jobs for less-educated workers. Read

Thursday, June 2, 2011

Yastrow: “We Are on the Verge of a Great, Great Depression” from Washington's Blog by Washington's Blog

Yastrow: “We Are on the Verge of a Great, Great Depression”

from Washington's Blog

Ron Paul: One-Third of Fed Bailout Loans - and Essentially 100% of NY Fed Loans - Went to Foreign Banks

Ron Paul: One-Third of Fed Bailout Loans - and Essentially 100% of NY Fed Loans - Went to Foreign Banks

From yesterday's Domestic Monetary Policy Subcommittee hearing, with Fed Board of Governors general counsel Scott Alvarez and New York Fed counsel Thomas Baxter: See this for background. 

Russian, NATO jets to hold first ever joint exercise

Russian, NATO jets to hold first ever joint exercise

Brussels (AFP) June 1, 2011
Russian and NATO fighter jets will hold their first ever joint exercise next week, teaming up in a bid to prevent attacks such as the September 11, 2001 strikes on the United States, the alliance said Wednesday. The aircraft will take part in a four-day event that begins on June 6, dubbed "Vigilant Skies 2011," with flights over Poland and the Black Sea.

Iraq transition 'vital' for Middle East, US officials say

Iraq transition 'vital' for Middle East, US officials say

Washington (AFP) June 1, 2011
The transition from a strong US military presence in Iraq to an expanded diplomatic role is "vital" to ensure security in the Middle East, US officials said Wednesday. With just months to go before US forces must withdraw from Iraq, senior US officials are saying they hope Iraqi leaders will ask for troops to stay, while acknowledging the unpopularity of the American troop presence.

Are Global Metal Wars Looming?

Are Global Metal Wars Looming?

Dan McGroarty, RealClearWorld
Terbium, Erbium, Lanthanum, Lithium, Cobalt, Cerium: This partial list is a high-tech hodge-podge of Rare Earths and Rare Metals increasingly making their way into headlines and legislative hearings. The challenge now, for policy-makers and the interested public, is to know which Rare Metals loom largest in our ongoing economic development, and whether we can ensure access to a steady supply. Given the stakes, there's no better time to learn the new language of resource scarcity. Strictly speaking, the Rare Earths - subject of concern due to China's current near-monopoly -...

Pakistan marches to Saudi Arabia's tune

Pakistan marches to Saudi tune
By Brian M Downing

Clashes Spread Across Yemen from the CFR

Clashes Spread Across Yemen
Clashes between the Yemeni regime and prominent tribal forces continued in the capital of Sanaa today, as the country marches closer to outright civil war (al-Jazeera). Violence also persisted in the southern city of Taiz, where over fifty people have died since the weekend, and the coastal town of Zinjibar, where the forces of President Ali Abdullah Saleh have pounded a suspected al-Qaeda insurrection. The Obama administration dispatched top counterterrorism official John Brennan to Saudi Arabia and the UAE in order to increase pressure on Saleh to sign a Gulf-brokered transition agreement--which he has balked at three times already. The United States and its allies in the region fear the chaos in Yemen could spill over to neighboring countries and threaten strategic oil supply lines (Reuters).
In Sanaa, tribal leaders claim hundreds more fighters are mobilizing to support chief Sheikh Sadeq al-Ahmar--leader of the influential Hashid tribal federation (BBC). Fresh conflict has concentrated in the city's northern Hassaba neighborhood, where government and tribal fighters battle over strategic buildings. Saleh reportedly deployed U.S.-trained Yemeni counterterrorism forces (WSJ) to engage opposition troops commanded by General Ali Mohsen al-Ahmar--the country's most prominent military defector. U.S. officials have warned Saleh not to use U.S.-trained forces or weapons against protestors, a contingency that might force Washington to cut aid to the Yemeni regime.
Analysis:
In the CTC Sentinel, Christopher Boucek and Mara Revkin outline the political, economic, and security factors fueling the ongoing violence in Yemen.
This editorial from ArabNews.com discusses the crisis in Yemen and the political intransigence of President Saleh.
In this article for the Huffington Post, Robert Barret discusses the unfolding conflict in Yemen, the role of al-Qaeda in the Arabian Peninsula, and the threat of Yemen becoming the "next Afghanistan."
This CFR issue guide provides a range of background and analysis on the protests in Syria, Egypt, Libya, and on U.S. policy in the region.
Background:
This Reuters timeline lays out the progression of events in the ongoing Yemen political crisis.

The New Club of Arab Monarchies

The New Club of Arab Monarchies

By PIERRE RAZOUX

Back towards a US double-dip

Back towards a US double-dip Washington’s paralysis in the face of a stalled recovery is bad news – not just for average Americans but for the world, writes Robert Reich
http://link.ft.com/r/XYEWFF/RNRZJ6/WL1GSD/OJY76V/YHUSJQ/HK/h?a1=2011&a2=6&a3=2

FT Energy News 6/2

FT.com - Energy
 

Greenko to raise £50m for wind farm projects
http://link.ft.com/r/73UJGG/WLUXNJ/A7ZW81/NSDZ82/6V61PW/PJ/h?a1=2011&a2=6&a3=2
 
The nuclear option
http://link.ft.com/r/73UJGG/WLUXNJ/A7ZW81/NSDZ82/D4Z6GY/PJ/h?a1=2011&a2=6&a3=2
 
Resourcehouse: China First ... and Last
http://link.ft.com/r/73UJGG/WLUXNJ/A7ZW81/NSDZ82/ZB1J9Z/PJ/h?a1=2011&a2=6&a3=2
 
Centrica leaves key gas field idle
http://link.ft.com/r/73UJGG/WLUXNJ/A7ZW81/NSDZ82/FXM06Q/PJ/h?a1=2011&a2=6&a3=2
 
CBI chief takes gloves off in energy tax fight
http://link.ft.com/r/73UJGG/WLUXNJ/A7ZW81/NSDZ82/6V61PX/PJ/h?a1=2011&a2=6&a3=2
 

FT.com - Utilities
 

Northumbrian Water increases revenues
http://link.ft.com/r/73UJGG/WLUXNJ/A7ZW81/NSDZ82/YHUSQC/PJ/h?a1=2011&a2=6&a3=2
 
Schneider in $2bn bid for Telvent
http://link.ft.com/r/73UJGG/WLUXNJ/A7ZW81/NSDZ82/40GPNA/PJ/h?a1=2011&a2=6&a3=2
 
IAEA faults Japan over tsunami defences
http://link.ft.com/r/73UJGG/WLUXNJ/A7ZW81/NSDZ82/WL3QIB/PJ/h?a1=2011&a2=6&a3=2
 

FT Analysis Egypt: A determined stand Egypt:


FT.com - Analysis
 

Egypt: A determined stand
Egypt: The Muslim Brotherhood looks likely to emerge from September elections with significant influence as the struggle for the state intensifies between Islamists and fragmented liberal forces, writes Roula Khalaf
http://link.ft.com/r/J0VG55/WLUXJT/IYD9ZO/181SMP/D4Z6GJ/FW/h?a1=2011&a2=6&a3=2
 

Wednesday, June 1, 2011

Billion Dollar Fund Managers Agree: The Government Never Fixed the Underlying Economic Problems, So We'll Have Another Crash from Washington's Blog by Washington's Blog

Billion Dollar Fund Managers Agree: The Government Never Fixed the Underlying Economic Problems, So We'll Have Another Crash

from Washington's Blog

Yastrow: “We Are on the Verge of a Great, Great Depression” from Washington's Blog by Washington's Blog

Yastrow: “We Are on the Verge of a Great, Great Depression”

from Washington's Blog

As Martial Law Ends in Bahrain, Will Anyone Notice?

As Martial Law Ends in Bahrain, Will Anyone Notice?

Photo/Flickr: malyousif
This is a guest post by Jonathan Guyer, a program associate at the New America Foundation/Middle East Task Force and the official cartoonist of The Washington Note. He also is assistant editor for The Middle East Channel at FP. He blogs at Mideast by Midwest.

Zombie Politics, Democracy and the Threat of Authoritarianism - Part I

Zombie Politics, Democracy and the Threat of Authoritarianism - Part I
Henry A. Giroux, Peter Lang Publishing Group Book Excerpt: "The twenty-first-century zombies no longer emerge from the grave; they now inhabit the rich environs of Wall Street and roam the halls of the gilded monuments of greed such as Goldman Sachs. As an editorial in The New York Times points out, the new zombies of free-market fundamentalism turned 'the financial system into a casino. Like gambling, the transactions mostly just shifted paper money around the globe. Unlike gambling, they packed an enormous capacity for collective and economic destruction - hobbling banks that made bad bets, freezing credit and economic activity. Society - not the bankers - bore the cost.'"
Read the Article
 

Obama's Illegal War

Obama's Illegal War

Libya is important, but the U.S. Constitution is ultimately what we're fighting for.

House GOP backs $17 billion 2012 Pentagon increase

House GOP backs $17 billion 2012 Pentagon increase

Beware of Greeks Bearing Bonds

Beware of Greeks Bearing Bonds

How The Lobby Chills Middle East Debate

How The Lobby Chills Middle East Debate

End the party before Brazil’s bubble bursts

End the party before Brazil’s bubble bursts

FT Special Report: New Trade Routes - India

India's ambitious plans to raise annual exports from $246bn to $500bn in the next three years
 














Inside this report



World beats a path to Delhi
 

India is reinvigorating its trading relationships in an attempt to regain lost ground after decades of isolation, inward-looking policies and red tape.
Free trade: Bumpy road ahead on the way to a deal with Europe
 

India and the European Union are edging closer to an agreement.
Trade deficit: Asian powerhouses agree to differ
 

New Delhi and Beijing have issues to resolve.
Drug industry: India aims for role as global pharmacy
 

Expiring patents will aid the sector with its aim of India to becoming the world’s pharmacy.
Export base: Indian government has bold strategy for new markets
 

Despite a strong currency, India's export trade is booming.

Housing Prices Much Worse Than Expected

Housing Prices Much Worse Than Expected
http://www.darkgovernment.com/news/housing-prices-much-worse-than-expected/
 


U.S. single-family home prices dropped in March, dipping below their 2009 low,
as the housing market remained bogged down by inventory and weak demand, a
closely watched survey said Tuesday.

FDA Being Sued for Endangering Public Health

FDA Being Sued for Endangering Public Health
http://www.darkgovernment.com/news/fda-being-sued-for-endangering-public-health/
 


MANHATTAN (CN) - A supine Food and Drug Administration is allowing the use
of low doses of antibiotics in animal feed to deal with cramped and unsanitary
conditions on cattle farms, according to the Union of Concerned Scientists and
four other groups, raising the "specter of untreatable infections" just around
the corner.

Foundation Myths

Foundation Myths

Stifling debate on the Nakba—the Arabic word for catastrophe and how Palestinians refer to Israel’s founding—prevents a free and open discussion of the historical record

BY JOSEPH DANA | Jun 1, 2011 7:00 AM

How America Screws Its Soldiers by Andrew J. Bacevich

How America Screws Its Soldiers
by Andrew J. Bacevich
Everyone claims to “Support Our Troops.” But as Andrew J. Bacevich explains, telling the military it can do whatever it wants works for everyone—except for the soldiers themselves.

What price war?

What price war?

Robert Reich - Back towards a US double-dip

Robert Reich - Back towards a US double-dip
 
Washington’s paralysis in the face of a stalled recovery is bad news – not just for average Americans, but for the world. Ironically, it also worsens America’s future budget crisis because it postpones the day when the debt begins to shrink as a proportion of GDP. Yet as the 2012 preisdential election campaign looms, the prospects for sensible policy seem to decrease by the day.
http://link.ft.com/r/19JYUU/3O8EL5/8A25BP/KEWCHT/FXM0EM/RF/h?a1=2011&a2=6&a3=1
 

The Hawks of South Asia By: BASHARAT PEER | Foreign Policy

The Hawks of South Asia
 

By: BASHARAT PEER | Foreign Policy

Japan Prime Minister Faces No-Confidence Vote By: TOKO SEKIGUCHI | The Wall Street Journal

Japan Prime Minister Faces No-Confidence Vote
 

By: TOKO SEKIGUCHI | The Wall Street Journal
Japanese Prime Minister Naoto Kan will face his biggest political challenge Thursday when the lower house likely votes on the ouster of his administration over its handling of the March 11 disaster and subsequent nuclear crisis.

"Geithner and Goldman, Thick as Thieves"

Robert Scheer on the Fed's Secret Loans to Big Banks
"Geithner and Goldman, Thick as Thieves" -- What was Timothy Geithner thinking back in 2008 when, as president of the New York Fed, he decided to give Goldman Sachs a $30 billion interest-free loan as part of an $80 billion secret float to favored banks? The sordid details of that program were finally made public this week in response to a court order for a Freedom of Information Act release, thanks to a Bloomberg News lawsuit.
http://www.truthdig.com/report/item/geithner_and_goldman_thick_as_thieves_20110531/
 

A cautionary tale about bankers, debt, and national economic bankruptcy

A cautionary tale about bankers, debt, and national economic bankruptcy

Jarring Disconnect: If Joblessness and Hopelessness Undermine Democracy in the Middle East, What About Here at Home?

Jarring Disconnect: If Joblessness and Hopelessness Undermine Democracy in the Middle East, What About Here at Home?
Dave Lindorff, This Can't Be Happening: "Unemployment in Egypt among young men and women is about 30%. In Tunisia, it is over 40%. The White House claims that with figures like that, the future for democracy in those countries is tenuous. But wait a minute. What about the US? Unemployment and underemployment here is still up around 20% overall, and it is much higher among young people. Black youth unemployment fell so far in 2011 to an official rate of 44% from 50% last year (because so many young workers just gave up trying to find work!). Among Latino youth, the official unemployment rate is stuck at around 30%. Overall, youth unemployment, according to the official Labor Department figures, is 20%, but remember, the official rate does not count those who are working part time who want full-time work, and does not count those who have given up looking for work."
Read the Article
 

The Peace Process and the Arab Spring

The Peace Process and the Arab Spring
Christopher Hill, Project Syndicate: "President Barack Obama's speech on the ongoing popular uprisings in the Middle East, followed by Israeli Prime Minister Binyamin Netanyahu's recent visit to Washington, was intended to kick off a renewed effort to revive the Israeli-Palestinian peace process. Things are not turning out as planned. Instead, Netanyahu took the opportunity of Obama's address to emphasize his own well-documented opposition to a two-state solution based on a return to the pre-1967 borders."
Read the Article
 

Egypt Opens Rafah Crossing: This Is What Democracy Looks Like Robert Naiman, Truthout:

Egypt Opens Rafah Crossing: This Is What Democracy Looks Like
Robert Naiman, Truthout: "On Saturday, at long last, the Egyptian government 'permanently opened' the Egypt-Gaza passenger crossing at Rafah. A big part of the credit for this long-awaited development belongs to Tahrir. It was the Tahrir uprising that brought about an Egyptian government more accountable to public opinion and it was inevitable that an Egyptian government more accountable to public opinion would open Rafah, because public opinion in Egypt bitterly opposed Egyptian participation in the blockade on Gaza. In addition, opening Rafah was a provision of the Fatah-Hamas reconciliation accord brokered by the Egyptian government - an achievement facilitated by the fact that the post-Tahrir Egyptian government was more flexible in the negotiations with Hamas that led to the accord."
Read the Article
 

Dumb Question of the 21st Century: Is It Legal?

Dumb Question of the 21st Century: Is It Legal?
Tom Engelhardt, TomDispatch: "Is the Libyan war legal? Was Bin Laden's killing legal? Is it legal for the president of the United States to target an American citizen for assassination? Were those 'enhanced interrogation techniques' legal? These are all questions raised in recent weeks. Each seems to call out for debate, for answers. Or does it? Now, you couldn't call me a legal scholar. I've never set foot inside a law school, and in 66 years only made it onto a single jury (dismissed before trial when the civil suit was settled out of court). Still, I feel at least as capable as any constitutional law professor of answering such questions. My answer is this: they are irrelevant."
Read the Article
 

Chris Hedges | The Sky Really Is Falling

Chris Hedges | The Sky Really Is Falling
Chris Hedges, Truthdig: "The Earth has already begun to react to our hubris. Freak weather unleashed deadly tornados in Joplin, Mo., and Tuscaloosa, Ala. It has triggered wildfires that have engulfed large tracts in California, Oklahoma, New Mexico and Texas. It has brought severe droughts to the Southwest, parts of China and the Amazon. It has caused massive flooding along the Mississippi as well as in Australia, New Zealand, China and Pakistan. It is killing off the fish stocks in the oceans and obliterating the polar ice caps. Steadily rising sea levels will eventually submerge coastal cities, islands and some countries. These disturbing weather patterns presage a world where it will be harder and harder to sustain human life. Massive human migrations, which have already begun, will create chaos and violence. India is building a 4,000-kilometer fence along its border with Bangladesh to, in part, hold back the refugees who will flee if Bangladesh is submerged."
Read the Article
 

Noam Chomsky | The Revenge Killing of Osama bin Laden

Noam Chomsky | The Revenge Killing of Osama bin Laden
Noam Chomsky, Truthout: "The May 1 U.S. attack on Osama bin Laden's compound violated multiple elementary norms of international law, beginning with the invasion of Pakistani territory. There appears to have been no attempt to apprehend the unarmed victim, as presumably could have been done by the 79 commandos facing almost no opposition. President Obama announced that 'justice has been done.' Many did not agree - even close allies. British barrister Geoffrey Robertson, who generally supported the operation, nevertheless described Obama's claim as an 'absurdity' that should have been obvious to a former professor of constitutional law."
Read the Article
 

Muddle along for now, but Greek default inevitable

FT.com - Markets Insight
 

Muddle along for now, but Greek default inevitable
 
As European policymakers inch their painful way towards another stopgap bail-out for Greece, a high-level debate is taking place on the nature of the country's plight
http://link.ft.com/r/M2ZOXX/9Z2RP2/QFRUDM/EWAHOQ/XTPD35/VU/h?a1=2011&a2=6&a3=1
 

Intolerable choices for the eurozone

Intolerable choices for the eurozone
The options to go forwards towards a closer union or backwards towards partial dissolution proves that an enduring union will at the very least need deeper financial integration, writes Martin Wolf
http://link.ft.com/r/M2ZOXX/9Z2RP2/QFRUDM/EWAHOQ/40GJBY/VU/h?a1=2011&a2=6&a3=1

Afghanistan: Lined up to lead

FT.com - Analysis
 

Afghanistan: Lined up to lead
 
With a partial security handover imminent and prospects for talks with the Taliban improved, western strategy is at a turning point after a decade of occupation 
http://link.ft.com/r/VKY5JJ/D4MPWT/RNF1Y5/UUJWDM/V1NXKB/VU/h?a1=2011&a2=6&a3=1
 

FT.com - Energy

FT.com - Energy
 

Power chief hits out at nuclear boost
 
http://link.ft.com/r/TWK799/C5734Z/ZBHOFE/IY56CG/GK5G0J/HK/h?a1=2011&a2=6&a3=1
 
 
Iron ore miners to reap gains from floods and firm buying
 
http://link.ft.com/r/TWK799/C5734Z/ZBHOFE/IY56CG/JIXO2U/HK/h?a1=2011&a2=6&a3=1
 
 
US-Canada pipeline closure lifts crude
 
http://link.ft.com/r/TWK799/C5734Z/ZBHOFE/IY56CG/ZB1ISV/HK/h?a1=2011&a2=6&a3=1
 
 
Shell and Rosneft in talks about Arctic deal
 
http://link.ft.com/r/TWK799/C5734Z/ZBHOFE/IY56CG/YHUY9A/HK/h?a1=2011&a2=6&a3=1
 
 
Kansai Electric to issue first utility bonds since Japan quake
 
http://link.ft.com/r/TWK799/C5734Z/ZBHOFE/IY56CG/TPR4D2/HK/h?a1=2011&a2=6&a3=1
 
 

FT.com - Utilities
 

Eon seeks damages from Berlin
 
http://link.ft.com/r/TWK799/C5734Z/ZBHOFE/IY56CG/6V6FUX/HK/h?a1=2011&a2=6&a3=1
 
 

Walker's World: Money and the Arab Spring

Walker's World: Money and the Arab Spring
 

Paris (UPI) May 31, 2011 - The Group of Eight summit exposed not only the financial weakness of the old industrial powers when faced with the challenge of the Arab Spring but also the crisis in its Middle Eastern alliances that is forcing the United States to choose between its immediate interests and its values. On the face of it, all seemed generosity as the G8 leaders announced that some $20 billion would be a ... more
 

Arab revolts jolt Western intelligence

Arab revolts jolt Western intelligence

Cairo (UPI) May 31, 2011 - The toppling of the pro-Western rulers of Egypt and Tunisia in the Arab Spring upheavals, and the prospect that other authoritarian regimes in the Middle East may fall, has alarmed Western intelligence agencies that have relied on their help in fighting terrorism. Given Washington's deteriorating relations with Pakistan, a vital partner in the war against al-Qaida, and its powerful Inte ... more
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Financial Times - US homepage 6/1


Financial Times - US homepage
 

US House votes against raising debt ceiling
 
The first vote to increase the $14,300bn US borrowing limit has failed, highlighting the persistence of deep divisions over budgetary policy two months ahead of a crucial deadline to avert a potential default
http://link.ft.com/r/6NPSBB/IYKLWI/HDKQA6/XTNDWM/JIXOU9/N9/h?a1=2011&a2=5&a3=31
 
 
US home price double dip erases post-crisis gains
 
US house prices are in a double dip that has erased all of their bounce since the recession and threatens to derail a stuttering economic recovery
http://link.ft.com/r/6NPSBB/IYKLWI/HDKQA6/XTNDWM/M9YVTF/N9/h?a1=2011&a2=5&a3=31
 
 
WHO signals mobile phone cancer fears
 
The World Health Organisation has for the first time classified radiation from mobile telephones as “possibly carcinogenic to humans”
http://link.ft.com/r/6NPSBB/IYKLWI/HDKQA6/XTNDWM/IYW63Z/N9/h?a1=2011&a2=5&a3=31
 
 
Obama picks energy executive for commerce post
 
John Bryson, the former chairman of Edison International, will be named commerce secretary, rounding out the transformation of President Obama’s economic team
http://link.ft.com/r/6NPSBB/IYKLWI/HDKQA6/XTNDWM/IYW63A/N9/h?a1=2011&a2=5&a3=31
 
 
Walmart given nod for S Africa acquisition
 
Walmart has won approval for its proposed $2.4bn takeover of retailer Massmart, paving the way for the US multinational to expand into fast-growing African markets
http://link.ft.com/r/6NPSBB/IYKLWI/HDKQA6/XTNDWM/72ONDL/N9/h?a1=2011&a2=5&a3=31
 
 
Palin fans speculation of presidential candidacy
 
Sarah Palin’s reappearance on her ‘One Nation’ tour has kick-started debate over whether the former vice-presidential candidate will run for the Grand Old party nomination
http://link.ft.com/r/6NPSBB/IYKLWI/HDKQA6/XTNDWM/WL3K2H/N9/h?a1=2011&a2=5&a3=31
 
 
Italy offers financial help to Libya rebels
 
Rome will call for wider recognition of uprising and financial relief as Nato members and Arab allies confer in Abu Dhabi in the days ahead
http://link.ft.com/r/6NPSBB/IYKLWI/HDKQA6/XTNDWM/YHUYZT/N9/h?a1=2011&a2=5&a3=31
 

World oil prices climb on faltering dollar

World oil prices climb on faltering dollar
London (AFP) May 31, 2011 World oil prices soared on Tuesday as the dollar slid against the euro amid mounting speculation over another Greek bailout and as traders took heart from upbeat global economic data.
New York's main contract, light sweet crude for delivery in July, jumped $2.26 to $102.85 per barrel.
Brent North Sea crude for July rose $1.99 to $116.67 in late afternoon deals.
"Crude oil is up ... on dollar weakness," said SEB analyst Filip Petersson on Tuesday.