Welcome to the OND, Magnifico's series...it was his idea, he started it, so it’s all his fault. I accept no responsibility for the contents of this edition, but I will gladly accept tips.
Top Stories
California Terminator Governor Arnold Schwarzenegger has submitted a budget proposal that includes, among things: a sales tax increase and an oil tax increase; relief for troubled homeowners; spending cuts in education, the welfare-to-work program, and unemployment; requiring state employees to take one unpaid day off per month; and reducing labor laws regarding breaks, overtime, and schedules. So...he wants you to work harder for less money, pay more taxes when you spend money, and receive less education and welfare-to-work benefits...and he expects this to help the economy somehow?
World
Raja Petra, Malaysian blogger who had been in prison since September 12, was ordered freed by a judge.
The government alleged that Raja Petra was a threat to national security having published articles that it said created racial tension.
He is due in court later in the day, and will then be freed, the state news agency Bernama reported.
His lawyer, Malik Imtiaz, described Friday's ruling as "historic" and said it was "definitely a wonderful step in terms of civil liberties in Malaysia".
Raja Petra has increasingly angered the Malaysian authorities with his Malaysia Today website, the country's best-known political blog.
It almost could have been us...
As New Zealand's polls open in mere hours, the National Party boasts a significant lead over the incumbent Labor Party. Change is loose on the planet...
The incumbent Prime Minister Helen Clark is pinning her hopes for re-election on a late swing from undecided voters and the support of the minor parties.
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Labour has successfuly brokered deals to win the past three elections and Prime Minister Helen Clark believes they can make it four.
"This isn't first past the post where its one party versus another its party and friends versus other party and friends and that's why Labour has always been competitive in this election," she said.
Following two days of sharp declines in the US stock market, the Japanese Nikkei Index opened Friday down seven percent. Markets around the world have reported drops this week, even as major interest rates were slashed across the globe, including a monumental 1.5% rate cut in the UK.
The UN is investigating the discovery of at least a dozen murdered citizens found dead in their homes in the Democratic Republic of Congo.
[rebel leader] Gen Nkunda claimed his fighters, who have also seized control of the town of Nyanzale in the north, had attacked armed pro-government militia.
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UN spokesman Lt-Col Jean Paul Dietrich said Gen Laurent Nkunda's troops had taken the town in North Kivu province, breaking the ceasefire he had declared.
Following the motions of several other nations, including the US, South Korea lowered its central interest rates, but only by one quarter of a percent.
Analysts said the cut disappointed some who had expected up to 50 basis points off the key rate, but added the central bank would remain ready to take further action.
"The central bank may have missed a good chance to cut it deeply," said Park Jong-youn, a fixed-income analyst at Woori Investment & Securities.
"With major countries slashing their rates very deeply and rapidly, we should do it in the same way to maximise the effect. It's not time to save the bullets. The faster and deeper the rate cuts, the better for the economy."
USA
Numerous retailers reported widespread quarterly losses, most with double-digit declines, signaling that the 2008 holiday shopping season may be one of the poorest in decades.
Consumer spending represents two-thirds of the nation’s economic activity, and analysts said the striking sales declines at retailers almost certainly portended an extended, severe recession. The reports highlighted once again the depth of the economic problems confronting President-elect Barack Obama.
Consumers are cutting their spending for many reasons, but high on the list is the weakening employment picture. Even people who still have jobs are pinching pennies as they hear of layoffs among friends and family. Unemployment has hit 6.1 percent, and a new jobs report due Friday is expected to show further deterioration.
"October was every bit as bad we feared," said John D. Morris, a retailing analyst with Wachovia. "Maybe worse. October’s numbers were so disappointing, particularly in the final week, which had to leave retailers in a state of high anxiety going into the holiday season."
On the bright side, Wal-Mart still posted gains...
Rahm Emanuel has accepted Obama's offer to be his chief of staff. For some reason, Hollywood is all abuzz...
And so the winner is? Endeavor. The aggressive, A-list Hollywood talent agency has always been well connected, but things just got a lot better.
Agency founder Ari Emanuel now has the home and cellphone numbers of one of the country's most important political power brokers. His brother, Rahm Emanuel, the Illinois congressman and former Clinton White House staffer, on Thursday accepted President-elect Barack Obama's offer to become his chief of staff.
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Ari Emanuel and his agency have always been big Democratic supporters and fundraisers. But there's nothing like mixing family and politics to come up with a cocktail of influence.
So...what, the Obama administration is going to mirror the Bush administration and hire actors (as opposed to people with credentials) for key cabinet roles?
The major US automakers are meeting with members of Congress to discuss their own possible bailout, as GM and Ford are both poised to announce another round of quarterly losses.
Rep. John Dingell, D-Mich, one of the industry's strongest allies on the Hill, voiced support for offering federal help to the automakers, following the Thursday evening meeting with Pelosi.
"They are not seeking cash just to spend it," Dingell said. "They are seeking money to invest in jobs and opportunity for American workers and American industry."
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Automakers reported the worst month of auto sales in 25 years in October and sales are expected to remain weak into next year due to tight credit for consumers and dealers, rising job losses nationwide and battered consumer confidence.
Former New York Governor Eliot Spitzer will not face criminal charges for making regular calls to a prostitution ring. He resigned eight months ago, two days after the news of his extracurricular activities broke in the NYT.
Texas has deported over 100,000 illegal immigrants in the past year.
The regional offices of Immigration and Customs Enforcement released its annual figures Thursday, touting record results from a crackdown on immigrants already convicted of crimes and those dodging standing deportation orders.
ICE agents deported more than 53,000 illegal immigrants from South and Central Texas in the past 12 months. They returned more than 16,300 illegal immigrants to their home countries from North Texas and Oklahoma. During the same time period, agents removed 17,300 illegal immigrants from West Texas and more than 15,770 from Southeast Texas.
Nationally, ICE deported 349,000 illegal immigrants, a 20 percent increase from the previous year.
Our health care is lousy, our public education system is worse, you can't find a job, you can't buy a house...I just don't think they were avoiding deportation anymore...
Postmenopausal women might be able to jump-start their sex lives with a testosterone patch.
As the new findings show, it did. Wearing the higher-dose testosterone patch boosted a woman's "satisfying sexual experiences" by an average of 2.1 times every four weeks, compared to an increase of just 0.7 such experiences for women taking a placebo. Both testosterone doses used in the study seemed to increase desire and decrease distress.
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However, the use of the male hormone to boost sex drive in women may not be risk-free. Out of the 814 women in the study, four women who were taking testosterone developed breast cancer, but none of the women on placebo did. It's not clear whether this was a statistical blip or a warning sign that excess testosterone could cause or spur the growth of a malignancy. Some women also reported excess hair growth, although none stopped using the hormone for this reason.
Tropical storm Palin Paloma has strengthened into a hurricane in the Caribbean, as it heads towards the Cayman Islands, Jamaica, and Cuba. It is expected to strengthen more over the next 24 hours as it tracks north to northeast.
Bottom Stories
I know this isn't news anymore, it's just good to see that someone else sees it the way we do:
Fox News and McCain aides turn on Palin
A Georgia police officer resigned after being caught on tape with his pants down.
Officer Keith Robertson admitted to his police chief David Eubanks, that he is the officer seen on this surveillance tape.
It appears Robertson and a woman meet behind a place of business then proceed to have sex, while he was on duty and out of his jurisdiction.
While some folks said this was a disappointment, others say they believe it was an invasion of privacy.
Invasion of privacy? In public?!?
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(I didn't have the nerve to watch the video...)
Craigslist, the popular website listing apartment rentals, yard sales, and job openings, is under fire from law enforcement across the country due to numerous ads for prostitution listed.
As part of Craigslist's agreement with attorneys general around the country, anyone who posts an "erotic services" ad will be required to provide a working phone number and pay a fee with a valid credit card. The Web site will provide that information to law enforcement if subpoenaed.
Jim Buckmaster, Craigslist's CEO, said the deal will allow legitimate escort services to continue advertising, while providing a strong disincentive to companies that are conducting illegal business.
"We don't view it as a penalty, we view it as raising the accountability," he said. "A legitimate business should have no problem with that. They should have no problem providing a phone number or credit card credentials."
By the numbers
Bush has about 74(!) days left to finish what he started (whatever that is), before President-Elect Barrack Obama and Vice President-Elect Joe Biden are allotted at least four years to try and clean up the mess.
The Operations in Iraq have cost $569,000,000,000, as the race to one trillion dollars of war continues...however, considering the above described President-Elect, I don't think we'll make it there.
In the same time, the national debt has soared from $6,400,000,000,000 to $10,579,800,000,000, an increase of more than 4.1 trillion dollars.
Have a good one.