Thursday, June 10, 2010
Will Afghanistan's Military Ever Be Fit to Fight?
When a fuel tanker overturned on Highway 1 outside Kandahar earlier this year, the villagers saw it as a gift from Allah. They flocked to the leaking tanker with pots, pans, even plastic bags, to steal the leaking gasoline. Several Afghan army jeeps screeched up, and the soldiers jumped out, pushing away the villagers. But not to protect the fuel: the Afghan soldiers simply wanted it for themselves.Link
Bernanke Puzzled by Gold Rally.
Federal Reserve Chairman Ben Bernanke says he’s a bit puzzled by surging gold prices. The 30% rally from a year ago, on top of gains in previous years, might be interpreted as a loud signal from markets that big inflation pressures are building in the U.S. Gold is seen by many investors as a hedge against inflation risk. In this case, it might instead be a risk against risk broadly. Mr. Bernanke notes that the inflation signal isn’t confirmed by movements in other asset classes. Yields on Treasury bonds tend to rise when investors worry about inflation, but those yields have been falling recently. Inflation expectations as measured in Treasury Inflation Protected Securities (TIPS) markets remain low. And other commodity prices are falling. Gold is breaking records, but copper prices are down 17% so far this year.Link
Conservatives v. Libertarians.
It’s hard to imagine a greater victory for the conservative legal movement than the Supreme Court’s 2008 decision in District of Columbia v. Heller, which overturned D.C.’s ban on handguns. Not only did the Court definitively settle the long-contested question of whether the Second Amendment secures an individual right to keep and bear arms, but it did so using the language of “originalism”—the school of thought, long championed by conservatives, that says the Constitution should be read according to its original public meaning.Link
Obama Pledges New Aid to Palestinians.
WASHINGTON — President Obama urged the Israeli government to loosen its blockade of Gaza on Wednesday, as the United States continued to scramble to find a way out of the stalemate in the Middle East and address the outcry over Israel’s deadly raid on a Gaza-bound flotilla last week. Mr. Obama, meeting with the Palestinian president, Mahmoud Abbas, at the White House, also promised a $400 million aid package for the West Bank and Gaza, though only about $70 million represented a new commitment. White House officials said the money would be spent on housing, schools, efforts to provide access to drinking water and other health and infrastructure projects.Link
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