Ambac loses AAA rating

Global Economic Crisis Unfolding

Ambac loses AAA rating

As I am writing this, there is an economic bloodbath in the Asian stock markets as a result of the plunge yesterday in the US markets. One of the most troubling developments is the impending demise of the two main Bond Insurers, Ambac and MBIA. These two companies underwrite a large number of corporate and municipal bonds in the US market.

Just last Friday, Ambac lost its AAA rating, and it is expected that there will be further downward adjustments. In short, this will mean a loss of about $45 trillion in value in the credit derivative market in the coming days. Read the story here and do what you can to protect yourself from the coming collapse.

Hillary Wins?

Kucinich Demands Recount in New Hampshire

Hillary Wins?

Democratic presidential candidate Dennis Kucinich has sent a letter to the New Hampshire Secretary of State demanding a hand recount of all of the votes cast in the state’s primary. It seems that only 20% of the votes were counted manually, with the remaining 80% being tallied by the Diebold voting machines that were used. It seems that the results from the 20% that were hand-counted agreed with the exit polls, while the 80% differed considerably. Kucinich cites the need for voter confidence to be restored in the election process as his reason for making the request. Read the full article here.

Christmas Thoughts and Recommendations

I hope everyone had a great Christmas and I wish you all a very happy and prosperous 2008. I have been spending a bit of time at leisure during the holidays and have found three things that have interested me a great deal.

The first is the excellent video series called “The World at War“, narrated by Sir Laurence Olivier. This series covers virtually every aspect of World War II from the very beginning with some amazing video clips, personal accounts, and map graphics. While I am not at all fascinated by war itself, I am very interested in the human response to it, and this film series will go a long way toward helping you understand the finer points of one of mankind’s worst and greatest periods.

The second item is more of a re-discovery, as I had already seen the first and second version of this film before now. Loose Change Final Cut is now available to view on Google Video.

This amazing film, made by some resourceful young men from New York will open your eyes and make you think outside the box about 9/11. Check it out.

Lastly, I had bought a copy of Richard Dawkins’ book, “The God Delusion“, over a year ago, but had not found the time to read it. At last, I have tucked in and am really enjoying his discussion of religion on its own merits, without the fear of approbation usually associated with questioning religion at all. A great read.


CNN Banishes Kucinich

Gore Vidal weighs in on CNN’s dismissal of Rep. Dennis Kucinich from the Iowa Democratic Candidate debate. The media in the US are taking (and being given) too much power. Rather than present you with the facts and your options, they give you your opinion. Come on America, wake up and smell the coffee!

Take The Presidential Candidate Quiz

This quiz was developed by Minnesota Public Radio to help you navigate the complex matrix of issues facing the 2008 Presidential Candidates. I think it does a really good job of cutting to the core issues and helping you see clearly who you should vote for based on your feelings on these core issues.