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Front Page: School Shooting in Finland, Iran President Blames Economy on War, Germany Bids for Hostages

  • School Shooting in Finland:
    Nine people have been killed and the gunman wounded after he opened fire at a vocational school in western Finland this morning. Chaos ensued after the hooded gunman entered the school and began firing with what appeared to be an automatic weapon. The superintendent of police says, ''The incident is over now." The gunman had posted video of himself on YouTube prior to the attack.
  • Iran President Blames Economy on War:
    In New York for the opening of the UN, Iranian President Mahmoud Ahmadinejad said today that the economic crisis could be blamed on global US military intervention and President Bush's "logic of force." He said, "The world economy can no longer tolerate the budgetary deficit and the financial pressures occurring from markets here in the United States." Bush says he's confident Congress will quickly pass a bailout bill.
  • Germany Bids for Hostages:
    Germany continues efforts to free 11 foreign tourists kidnapped in Egypt on Friday. The kidnappers are holding five Germans, five Italians, and one Romanian tourist for a ransom of $15 million. Germany has formed a "crisis team" to deal with the situation as the kidnappers have threatened to kill the captives if any aircraft attempt to reach them.

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Jude-C Jude-C 7 years
<blockquote>Joseph E. Stiglitz, a Nobel Prize-winning economist who wrote the new book "The Three Trillion Dollar War," contends that the connection is real. Even with a growing energy demand from China, the United States and elsewhere, oil traders anticipated before the war that the price of oil would remain about $25 a barrel. Instead, it has soared to more than $100 a barrel. Iraqi oil production has not risen with demand, in part because investment in the Middle East has been stunted by war-related unrest.Those price increases are self-perpetuating, Stiglitz argues. Oil-rich Persian Gulf states are so awash in money that they are not sure what to do with it all. By holding back oil production, they make more off what they do produce and keep their greatest asset -- oil -- in the ground as they search for ways to spend their cash.That cash, through state-owned sovereign wealth funds, has flowed into stocks, bonds and other investments, creating incentives for lenders to offer low-interest loans, many of which have now gone sour.But that is only one factor, by Stiglitz's accounting. The federal government has sunk deeply into debt, first with tax cuts, then with accelerating war expenditures that have easily topped half a trillion dollars. That limited the government's ability to keep the economy on track through tax cuts or domestic investments, so the Federal Reserve Board used low interest rates and the free flow of money to keep the economy growing. Cheap credit sparked rash loans, a housing bubble and the current crisis.</blockquote>-Washington Post
Jude-C Jude-C 7 years
Joseph E. Stiglitz, a Nobel Prize-winning economist who wrote the new book "The Three Trillion Dollar War," contends that the connection is real. Even with a growing energy demand from China, the United States and elsewhere, oil traders anticipated before the war that the price of oil would remain about $25 a barrel. Instead, it has soared to more than $100 a barrel. Iraqi oil production has not risen with demand, in part because investment in the Middle East has been stunted by war-related unrest. Those price increases are self-perpetuating, Stiglitz argues. Oil-rich Persian Gulf states are so awash in money that they are not sure what to do with it all. By holding back oil production, they make more off what they do produce and keep their greatest asset -- oil -- in the ground as they search for ways to spend their cash. That cash, through state-owned sovereign wealth funds, has flowed into stocks, bonds and other investments, creating incentives for lenders to offer low-interest loans, many of which have now gone sour. But that is only one factor, by Stiglitz's accounting. The federal government has sunk deeply into debt, first with tax cuts, then with accelerating war expenditures that have easily topped half a trillion dollars. That limited the government's ability to keep the economy on track through tax cuts or domestic investments, so the Federal Reserve Board used low interest rates and the free flow of money to keep the economy growing. Cheap credit sparked rash loans, a housing bubble and the current crisis.
-Washington Post
UnDave35 UnDave35 7 years
I would like to see how the ecconomic woes of the world can be blamed on a war that relatively few countries are involved in. Our own ecconomic woes are tied greatly into the housing collapse, and the foreclosure market, and to a higher than expected gas prices, but those aren't results of the war.
Imabeliever Imabeliever 7 years
Exactly Jude..wth? I never thought I would agree with anything that came out of that aholes mouth.
ilanac13 ilanac13 7 years
wow - that's insane to think that there's another instance of a school shooting where the person with the gun posted something on youTube. it makes you wonder if there are precautions that can be taken to avoid this in the future. my wishes go out to the friends and families in Finland.i think that based on where we are with our economy- people are going to continue to point fingers and granted sometimes they are pointed in the right direction, i don't think that it's really tasteful for other nations to pass judgement. i think that the situation that we're in is something that we need to deal with, without comment since i don't see any other country coming to our aid, instead they all take aid from us. if our economy is suffering, it doesn't help to have it pointed out by others...right?i hope that they are able to come to a friendly agreement to get the tourists back. that's one of the scariest things to be in another country and then to get kidnapped and have such a high ransom. i hope that the germans are able to be successful and that everyone is released safely.
ilanac13 ilanac13 7 years
wow - that's insane to think that there's another instance of a school shooting where the person with the gun posted something on youTube. it makes you wonder if there are precautions that can be taken to avoid this in the future. my wishes go out to the friends and families in Finland. i think that based on where we are with our economy- people are going to continue to point fingers and granted sometimes they are pointed in the right direction, i don't think that it's really tasteful for other nations to pass judgement. i think that the situation that we're in is something that we need to deal with, without comment since i don't see any other country coming to our aid, instead they all take aid from us. if our economy is suffering, it doesn't help to have it pointed out by others...right? i hope that they are able to come to a friendly agreement to get the tourists back. that's one of the scariest things to be in another country and then to get kidnapped and have such a high ransom. i hope that the germans are able to be successful and that everyone is released safely.
Jude-C Jude-C 7 years
I really hate it when Ahmadinejad makes sense.
Leene Leene 7 years
This is horrible. There was very similar shooting here in Finland last year. Argh. It makes me so mad. We should put more money to children's mental-healthcare and we should re-think Finland's high gun-tolerance. But guns don't kill anyone - people do. Mental-healthcare would also only treat the symptoms of kids, not cure the real reason of their problems.Why can't parents spend more time with their kids?
Leene Leene 7 years
This is horrible. There was very similar shooting here in Finland last year. Argh. It makes me so mad. We should put more money to children's mental-healthcare and we should re-think Finland's high gun-tolerance. But guns don't kill anyone - people do. Mental-healthcare would also only treat the symptoms of kids, not cure the real reason of their problems. Why can't parents spend more time with their kids?
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