Union Finance Budget for Financial Year 2007-2008, Government of India... (India is Shining)

Union Finance Minister (Govt. of India) P Chidambaram presented the Union Budget for 2007-08 in Parliament on Wednesday, 28th Feb. 2007.

The Following are the Highlights:

While Chidambaram kept income tax limit unchanged, he increased the threshold limit by Rs 10,000 giving every assessee a relief of Rs 1,000.

Deduction in respect of medical insurance under Section 80 (D) increased to Rs 15,000 and Rs 20,000 for senior citizens.

Exemption limit for women was increased to Rs 145,000 and for senior citizens to Rs 195,000.

Dividend distribution tax raised from 12.5 to 15 per cent.

ESOPs to be brought under FBT.

Expenditure on samples and free distribution items to be exempted from fringe benefit tax.

Additional revenue from direct taxes to yield Rs 3000 crore and indirect taxes revenue neutral.

Tax exemption on aviation turbine fuel sold to turbo prop aircraft extended to all small aircraft less than 40,000 kg.

Withdrawals by central and state governments exempted from Banking Cash Transaction Tax. The limit for individuals and HUF raised from Rs 25,000 to Rs 50,000.

Two lakh people to benefit out of service tax exemption. Govt to lose Rs 800 crore as a result.

Service tax on Residents Welfare Associations whose members contribute more than Rs 3,000.

Surcharge on Corporate income tax on companies below Rs one crore removed.

Tax free bonds to be issued by state-owned urban local bodies.

Five year tax holiday for two, three, four star hotels and convention centres with a seating capacity of 3,000 in NCT of Delhi, Gurgaon, Ghaziabad, Faridabad and Gautam

Minimum Alternate Tax being extended.

Benefits of investment in venture capital funds confined to IT, bio-technology, nano-technology, seed research, dairy among some others.

Excise duty on cement reduced from Rs.400 per tonne to Rs.350 per tonne for cement bags sold at Rs.190 per bag at retail market. Those sold above Rs.190 will attract excise duty of Rs.600 per tonne.

Corporate tax: No surcharge for firms with a taxable income of Rs 1 crore (Rs 10 million) or less.

E-governance allocation to be increased from Rs.395 to Rs.719 crore.

Indian investors to be allowed investment in overseas capital markets through mutual funds. Mutual funds to set up Infrastructure Fund schemes.

Any requirement for security of the nation to be provided.

Backward Regions Grant Fund to be raised to Rs 5800 crore.

A high-powered committee report aimed at making Mumbai a world class financial centre submitted.

Public suggestions will be invited.

Rs 50 crore provided to begin work on vocational education mission for which Task Force in Planning Commission is chalking out a strategy.

1,396 Indian Technical Institutes to be upgraded to achieve technical excellence.

An autonomous Debt Management Office in government to be set up.

Government to create one lakh jobs for physically challenged. Government will reimburse the EPF contributions of employers in the case of physically challenged people taken on rolls of the company and included in the PF scheme. A fund of Rs 150 crore to be started which will go up to Rs 450 crore.

An Expert Committee to be set up to study the impact of climate change in India.

Rs 150 crore to be given to Ministry of Youth and Sports for Commonwealth Games and Rs 350 crore to the Delhi Government for the purpose. Rs 50 crore to be provided for the Commonwealth Youth Games in Pune.

Rs 100 crore for recognising excellence in the field of agricultural research.

VAT revenues increased by 24.3 per cent in the first nine months of 2006-07.

A national level goods and services tax to be introduced from next fiscal.

Fiscal deficit to be 3.7 per cent in the current year and revenue deficit two per cent.

Fiscal management enabled States consolidate debt to the tune of Rs.1,10,268 crore and 20 states availed of debt waiver to the tune of Rs.8575 crores. The share of States from the revenue expected to touch Rs.1,42,450 crore during 2007-08 as against Rs.1,20,377 crore during 2006-07.

Total expenditure estimated at Rs 6,81,521 crore.

Increase in gross tax revenue by 19.9 per cent, 20 per cent and 27.8 per cent in first three years of UPA government. Intend to keep tax rates moderate.

Peak customs duty rate on non-agricultural items reduced from 12.5 to ten per cent.

All coking coal fully exempted from duty.

Duties on seconds and defective reduced from 20 to ten per cent.

Customs duty on polyster to be reduced from ten per cent to 7.5 per cent.

Fiscal deficit for 2007-08 pegged at 3.3 per cent of GDP at Rs.1,50,948 crore. Revenue deficit at Rs.72,478 crore which will be 1.5 per cent.

Total expenditure during 2006-07 estimated at Rs.6,80,521 crore including Rs.40,000 crore for SBI shares.

Duty on pet food reduced from 30 per cent to 20 per cent.

Duty on sunflower oil to be reduced by 15 per cent.

Duty reduced on watch dials and movements and umbrella parts from 12.5 to five per cent.

Import duty of 15 specified machinery to be reduced from 7.5 per cent to five per cent.

Economy grows 8.6 per cent in third quarter of this fiscal compared to 9.3 per cent in the year-ago period

Three per cent import duty to be levied on private importers of aircraft including helicopters.

No change in general CENVAT rate.

Ad valorem duty on petrol and diesel to be brought down from eight to six per cent.

Export duty on iron ore and concentrate at the rate of Rs.300 per tonne. Export duty on Cromium proposed at Rs 2000 tonne.

Small-scale industries excise duty exemption raised from Rs one crore to Rs 1.5 crore.

Manufacturing sector grows at 10.7 per cent, agriculture at 1.5 per cent during October-December 2006-07.

Excise duty for plywood reduced from 16 per cent to eight per cent.

Food mixes to be fully exempted from excise duty.

Excise duty for plywood reduced from 16 per cent to eight per cent.

Bio-diesel to be fully exempted from excise duty.

Water purification devices, small and big, fully exempted from excise. Specific rates of excise duty on cigarettes increased.

Excise duty on Pan Masala without tobacco as mouth freshners reduced from 66 per cent to 45 per cent.

PAN to be made single identity card for all securities/stocks/MFs related transactions.

Insurance companies to launch a senior citizens scheme in 2007-08.

Defence budget increased to Rs 96,000 crore

Tourism infrastructure to get an allocation of Rs.520 crore as against Rs.423 crore last year.

The ceiling of loans for weaker sections under deferential rate of interest scheme will be raised from Rs 6500 to Rs 15,000 and in housing loan from Rs 5000 to Rs 20,000.

Regulations would be put in place for mortgage guarantee company for housing loans.

Regional Rural Banks, which are willing to take up greater responsibilities, to undertake aggressive branch expansion programme. One RRB branch for each of 80 districts so far uncovered. RRBs to accept NRE and FCNR deposits.

FDI inflows between April and January this fiscal touched $12.5 bn while portfolio investment reached $6.8 billion

Technology Upgration Fund in textiles to continue during the 11th Plan. Rs 911 crore to be provided for this.

Allocation for National Highway Development programme to be stepped up from Rs 9,955 crore to Rs 12,600 crore.

Work on Golden Quadrilateral road project nearly complete. Considerable progress made on North-South, East-West corridor and likely to be completed by 2009.

Northeastern region will get Rs 405 crore for highway development. Road-cum-rail project over Brahmaputra in Bogibil, Assam.

Health insurance cover for weavers to be enlarged to ancillary industries. Allocation increased from Rs 241 crore to Rs 321 crore.

A scheme for modernisation and technological upgradation of choir industry for which Rs 23.55 crore has been earmarked.

Manufacturing growth rate estimated at 11.3 per cent.

9.2 per cent GDP growth rate estimated in 2006-07.

Average growth for last three years is 8.6 per cent.

Saving rate of 32.4 per cent, investment rate of 33.8 per cent will continue.

A number of proposals to perk up agriculture to be announced.

Average inflation in FY'07 to be 5.2-5.4 per cent; govt confident of managing inflation

Bank credit rate grew by 29 per cent during first ten months of 2006-07

Inflation during 2006-07 estimated at between 5.2 and 5.4 per cent against 4.4 per cent during the previous year.

Abhijit Sen report on forward trading to be submitted in two months' time.

Additional irrigation potential of 24 lakh hectares to be implemented, including nine lakh hectares under Accelerated Irrigation Benefit Programme.

Economy in a stronger position than ever before.

15,054 villages have been covered under rural telephony and efforts to be made to complete the target of covering 20,000 villages by 2006-07.

Allocation on Healthcare to increase by 21.9 per cent.

Allocattion for education to be enhanced by 34.2 per cent.

Two lakh more teachers to be employed and five lakh more classrooms to be constructed.

Secondary education allowance to be increased from Rs.1,837 crore to Rs.3,794 crore.

Government committed to fiscal reforms.

Foreign exchange reserves stand at 180 billion dollars.

Allocation under Rajiv Gandhi Drinking Mission stepped up from Rs 4680 crore to Rs 5850 crore.

Government concerned over inflation and would take all steps for moderating it.

Already a number of steps on fiscal, monetary and supply management side have been taken.

Annual target of 15 lakh houses under Bharat Nirmal Programme to be exceeded.

Allocation for National Rural Health Mission stepped up from Rs 8207 crore to Rs 9947 crore.

Gross budgetary support in 2007-08 raised to Rs 2,05,100 crore from 1,72,728 crore in 2006-07. Of this, budgetary support to the Central plan will go up to 1,54,939 crore against 1,72,728 crore.

School dropout rates high. To prevent dropout, a National Means-cum-Merit scholarship to be implemented, with an allocation of Rs 6,000 per child.

Rs 1290 crore to be provided for elimination of polio. Intensive coverage will be undertaken in 20 districts in UP and 10 districts in Bihar. This will be integrated into NRHM.

National AIDS Control Programme to achieve zero level disease.

Measures for significant improvement of health care in rural area.

Allocation for ICDS programme to be increased from Rs 4087 crore to Rs 4761 crore.

30 more districts under NREGA. Additional allocation of Rs.12,000 crore for it.

Rs 800 crore for Sampoorna Gram Rozgar Yojana in districts not covered by NREGA. Swarna Jayanti Swarozgar Yojana allocation increased from Rs 250 crore to Rs 344 crore.

Computerisation of PDS and integrated computerization programme for FCI.

Allocation for schemes only for SCs and STs to be increased to Rs 3271 crore.

Rs 63 crore for share capital for National Minorities Development Finance Corporation following Sachar Committee recommendations.

Allocation for SC/ST scholarships enhanced from Rs.440 crore to Rs.611 crore.

Scholarships programme for minorities students to be of the order of Rs 72 crore for pre-metric, Rs 48 crore for graduate and postgraduate.

Total Budget for the Northeastern region raised from Rs 12,041 crore to Rs 14,365 crore.

New Industrial Policy for the northeastern region to be in place before March 31.

Women's development allocation will be Rs.22,282 crore.

Rs 7,000 crore allocation for better tax administration to be used for social schemes.

Rs 2,25,000 crore farm credit proposed in the new budget. A target of additional 50 lakh farmers to be brought under farm credit.

Farmers' credit likely to reach Rs.1,90,000 crore as against the targeted Rs.1,75,000 crore during 2006-07.

Special Purpose Tea Fund to rejuvenate tea production.

Rs 100 crore allocated for National Rainfed Area Authority.

One hundred per cent subsidy for small farmers and 50 per cent for other farmers for water recharging scheme.

World Bank signed agreement for revival of 5,763 waterbodies in Tamil Nadu. Loan component Rs 2,182 crore. To have a command area of four lakh hectares. Similar agreement with Andhra Pradesh in March for recharge of 2,000 bodies. Command area 2.5 lakh hectares.

Bonds worth Rs 5,000 crore to augment NABARD to be issued.

Death and disability cover for rural landless families to be introduced, known as 'Aam Aadmi Bima Yojana'.

70 lakh households to be covered under a social welfare scheme with LIC and with support from state governments.

50 per cent of the premium at Rs.200 per household to be given by the Centre. Rs.1,000 crore fund to be maintained by LIC for the purpose.

Central public sector enterprises will be given Rs 16,261 crore as equity support and loans of over Rs 2600 crore.

Sources: Times of India; NDTV; StarNews

Another Article About Retirement Plans

As we get older we seem to lose a lot of things. Our vision goes, our hearing goes, and our taste buds go, but that doesn't mean our money has to go too. When you are deciding on retirement plans you should shop around. One of the best retirement plans I found was while I was researching on the internet and I came across Met Life. Their retirement plans are super flexible and affordable. Met life asks you where you want to live in the future, how you want to live, and basically gives you information on how to control your own retirement plans. Also, they help you by giving you tips on what future health care costs are currently and what they will be later down the road, so that your retirement plans can be even better and more successful.

As far as retirement funds are concerned, Met Life has great advice for that as well. Met life has a great 4 % rule for people. Basically the 4 % rule states that an individual around the age of 65 should not spend more than 4 % of their monthly income. If they do happen to spend more, then their retirement funds will be less and less is harder to work with. Also, another tip to increase retirement funds is a deferred annuity. Basically a deferred annuity is where an individual can receive tax benefits from making with drawls on the account because only the earnings are taxed. Plus beneficiaries of the individual will receive payments of the investment earnings along with the principal, after the individual has passed on.

Another way to secure your financial situation when you are retired is to make sure you have a good 401k plan. A 401k plan is a program offered to you through an employer to assist in financial security. Every 401k plan is different; it just depends on who your employer is and what they decide to offer you. Depending on the company, every dollar you put into your 401k plan, they will pay a percent of that dollar and put it in to your account. Now if you land a really great job and the company is really good to you, they will even match you half way and for every dollar you put in, they too will put in a dollar. So they are basically paying half of your 401k.

Also, not to scare people too much, but just enough to inform the public of the problem, but there are scammers out there. The scammers are typically known to take advantage of the elderly, the retired and even business owners of small companies. So if you fall into any of these brackets, just be extra careful when decided on packages and plans for your future. If you need any help with decisions, or if you have any concerns or questions pertaining to life insurance, or retirement funds, Met Life is a great company to go through. They have really great reviews and again, unbeatable prices.

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

Obaid Karki An Outcast Underdog Libertarian Diogenesist Kabbalist Spinoziste Qutbist Pantheon Hexalingual Automath Former UAE Under Secretary Independent Street-Knowledge Urban Talking-head. Unaffiliated to a State, an Organized Religion Group, a Sect or a Kin and an Anti Tribal Gentile. Every phrase is an earnest verdict. Thats my bio. If you dont agree with me thats an honor. It is immoral to appease to please. My word hurts big time because it is quality of a moment of truth US Conspiracism is a Grassroot Religion alas belief masterminded by the Establishment to Worthy the Worthless. This in-thing is sold as Partisanship to the Unemployables for free. Its the Disneyfication of the Mass to glorify a Legacy of Ghosts as Rothchild, Bilderberg, English royalty etc. Neither Mainstream Media & nor Hollywood or the Publisher's Clan would be outsourced to such task simply because they are assigned to edutain the Untalentable Aristocrat Urban Parasites. AIG American International Group, Inc. (NYSE) Google Finance Yahoo Finance MSN Money AOL Finance CNN Money Reuters 3.51 0.36 ( 9.30%) 7 Oct 4:00pm ET Open: 4.22 High: 4.22 Low: 3.51 Volume: 90285327 Avg Vol: 218654000 Mkt Cap: 9.44B Disclaimer After Hours: 3.54 +0.03 (0.85%) 7 Oct 7:59pm ET Crisis strengthens Manulife's hand in AIG bid Manulife and other insurers are expected to bid for AIG divisions as early as this week, they said. The American insurance giant is under pressure to sell Former AIG Executives Get Harsh Criticism ...



http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Hurricane Katrina: No Match for Hurricane C

Watching the news coverage of Hurricane Katrina and the tragedy that befell those caught in her path, particularly in New Orleans, I began to wonder if there isn't a more sinister force of nature (?) to worry about than a mere Category 4 Hurricane.

The solemn-faced anchors and correspondents -- along with the politicians, policy-makers, and heads of various Federal bureaucracies to whom the network bosses grant airtime to lament the "natural" disaster and offer their often sketchy plans for remediation -- give way to ads for products and services appealing to all, but affordable only to the likes of those whose SUVs lined the Interstates after the evacuation was ordered in New Orleans preceding the storm. After CNN's hip "Hurricane Katrina" music signaled the transition from a particularly poignant report from the scene of mass hysteria and human misery along the Gulf Coast to commercial break, the viewer was greeted with an advert for the latest gas-guzzling, TV and satellite radio-equipped, power everything, leather seated, GPS enabled monstrosity, which could be had for twenty-something thousand dollars, after the dubious "employee discounts" and "cash back rebates" were applied. Watching the wundercar navigate through the most unforgivable of conditions -- including a deluged city street -- without incident or harm to its invisible driver and passengers, one might think to one's self, "Gee, if I were in New Orleans right now, I'd be able to get to higher ground if I had one of those," or, more likely, "Golly, what would the guys (or girls) say when I rolled up to the club (or golf course, race track, social dinner, or backyard get-together -- pick your poison) in that?"

By the time the would-be consumer processes that thought, they're immediately barraged with ads for "low-interest" home equity loans and mortgages, "high return" mutual funds and other Wall Street jibber-jabber, "family-friendly" cellular phone plans, and personalized credit cards that offer rewards for foolish spending (i.e., see above). The faces greeting the potential consumer are largely white and "comforting," males dominate the power positions (can one recall a commercial, featuring a man and woman in the same vehicle, where the "fairer sex" prevails in its operation?), and any people of color who are included are often portrayed without any ethnic personality traits, for fear that they might be considered edgy or threatening by the typical suburbanite, and, thus, damaging to the brand image that is so meticulously constructed and protected.

After some form of self-serving praise and promotion of the latest and greatest of themed news programming, the viewer is returned to the solemn-faced anchor, along with his or her corresponding cronies, reporting on the devastation -- flood, wind damage, fire, lawlessness -- wrought by the Hurricane. Crying mothers clutching hapless children punctuate their coverage of the aftermath, presented before a backdrop cluttered with wind-scarred hotels, newly amphibious vehicles (so much for On Star), and copious amounts of sewage- and toxin-laden floodwater. The reporters offer words of encouragement to those who were left behind by those with the means to get them out, as if they, the elite of the business, are in the same predicament. Are those words really meant to ease the suffering of Joe and Jane Hurricane Victim? Or, are they meant as metaphorical appeasement to the collective guilty conscience, subliminal as it may be, borne by an America whose default in compassion for the collective good has become so painfully evident in the delay of life-saving relief to those so desperately in need?

During the coverage of the storm (most of which, to be fair, occurred before the levees holding back the Mississippi River and Lake Pontchartrain faltered), there were more Americans tuned in to the MTV Video Music Awards than the combined news network coverage. The next morning, as New Orleans' children were dying en masse, America's well-to-do housewives and husbands took theirs to shop for school clothing in clean, white malls, bantering about the effects that the storm would have on the price of the gasoline needed to shuttle their family to their Labor Day vacation destination. Men and women in the office huddled around the water cooler and discussed preseason NFL or bragged about their standard of living. And people in economic situations similar to those who remained in New Orleans, had no idea what was going; one of my social work clients, a twenty five year old mother of four living in public housing, asked what I meant when I stated that anywhere was better than New Orleans on that particular morning.

The ignorance extended to the upper echelons of the Federal government. President Bush remained on vacation at his ranch until the news became so grim as to prompt an uprising if he hadn't returned to play leader; it seemed as if Karl Rove must have been on the porch, twisting his arm, like a mother would an insolent child's, waving the polling data, indicating the sheer unpopularity of his decision to stay in Texas while so many were trapped in New Orleans, in the air to punctuate his point. He attended a publicity stunt for his ridiculous Medicare policy, at which point he commented on the tragedy that had befallen his countrymen and women. Then, he was photographed receiving and strumming a guitar given to him by a country music artist, the look of boyish abandon evident upon his face. The Secretary of State was seen at a NYC production of "Spamalot" guffawing along with the others in attendance, while bodies were washing up on the beach in Biloxi, MS. She then went on a shopping spree and bought $7000 shoes. Let's hope they were galoshes, because this administration will have some sewage of their own to wade through once this catastrophe is properly addressed.

Even given the unprecedented coverage dedicated to the aftermath of Hurricane Katrina, many Americans approached the subject in as blasé a manner as imaginable...that is, until the looting was reported. While only sometimes drawing a distinction between scavenging for food and depicting the looters as pure, unadulterated criminals, the coverage of the looting was given as much play as the "important stuff," and call-in viewers and pundits were quick to rebuke and demand the heads of those involved. Conservative columnist Peggy Noonan was not the only talking head to suggest that looters should be shot on sight, when expressing her haughty displeasure at their "tragic piggism." So-called objective (ahem, fair and balanced) news personnel described the looters (or, if they were light-skinned, "scavengers") in less than objective terms. Within the context of one of the most tragic events that many of us will ever witness (hopefully), leaders such as Mississippi Governor Haley Barbour advocated "ruthless" treatment for those willing to break the law, without making the aforementioned distinction. Even the most non-judgmental among us cannot deny feeling a slight tinge of rage toward those who dared to defy laws protecting personal property in the midst of such a severe crisis. There were even calls, such as the one received on the Glenn Beck Show from a man in South Carolina, to boycott the Red Cross relief effort because, "the people who are looting are all black people," despite the fact that seventy percent of New Orleans is African American.

To an extent, that rage is not misguided, in terms of basic human behavior. To another extent (and while violence should never be condoned; the reports of rampant brawling, rape, and murder are truly as horrific as can be imagined) the rage would be better directed at a socioeconomic system that promotes material over true substance, and pits the rich and powerful against those who coincidentally lie in the wake of their transactions. Those same televisions that the looters were stuffing into industrial sized garbage bags and hauling away might have adorned the walls and shelves of their pre-flood homes, rented at a high premium from seedy establishments whose coffers are fueled by the "need to have it" mentality generated by our materialistic society. The shoes and jewelry being purloined by the armful represent niceties that, while not empirically necessary, are taught to be more reflective of a person than, well, personality and personability. Their deeds were reflective of a power structure that they, in the most dire of circumstances, were seizing as their own, if only for a few moments.

New Orleans is a cultural Mecca, a jewel of the Gulf Coast. Even folks that have never ventured to its allegedly-moss-covered streets, according to the 'other' Ms. Rice, Anne, description of the town, hold it in a certain state of reverence. However, with any great tourist destination, there comes the inevitable human tragedy of low-wage jobs, in the service of the rich and enabled. Yet the compassion and reverence that many feel toward the city's institutions and attractions (and local heroes) never seems to translate into support for those who are the backbone of the system. As Ms. Rice wrote in a recent editorial:

But to my country I want to say this: During this crisis you failed us. You looked down on us; you dismissed our victims; you dismissed us. You want our Jazz Fest, you want our Mardi Gras, you want our cooking and our music. Then when you saw us in real trouble, when you saw a tiny minority preying on the weak among us, you called us "Sin City," and turned your backs.

Truth is, the Hurricane hit most of these people generations ago, and has only intensified over the years. Hurricane C -- Capitalism -- along with the 'hypercompetitivism' and 'hyperconsumerism' that evolve has fueled the greed that has become painfully evident during this crisis. Many editorialists have noted Thomas Hobbes' "state of nature" argument as an explanation; "Hobbesian" this and "Hobbesian" that, and, "this is how we should all expect people to act in the vacuum created by a lack of responsible governance." However, Hobbes proved himself subservient to the system, making a case for economics and against the inherent good of human nature. To be sure, Hobbes' Leviathan was written following the extremely depressing English Civil War, but its tone eerily reflects the current prevailing US emotion with regard to world events: shrill paranoia and vapid uncertainty. Such wayward historians often forget to note what Jean-Jacques Rousseau wrote about the "state of nature" (pre-Social Contract) being corrupted by the marketplace and social hierarchies; the "state of nature" does not exist for we have, almost genealogically allowed profiteering and ruthless class division to obliterate it. Should there be some discussion of changing our underlying beliefs in the golden cow that is our marketplace? Or are we too comfortable in our Fortress America, the richest nation in the world? Do we not want to lend credence to the thought that our economic system has become our interpersonal system? Would we rather banter on about race and the criminal instinct than pursue a meaningful discussion about the effects of too much wealth? Time will tell.

The horrifying truth is that hypercapitalism had its filthy paws in the disaster, as much as Katrina, with her 145 mph winds and incredible storm surge. Geologists and public emergency preparedness workers had been tolling the impending disaster bell for more than 40 years, quoting astronomical human devastation due to structural integrity issues of the man-made defense system badly in need of address. However, instead of fully funding the projects focused on prevention (which were already in place), the Bush administration grabbed the purse strings, commissioning Federal dollars for its effort to appease its friends in the oil business (or, as the effort is more commonly described, to fight the "war on terror"). Haley Barbour, former RNC chairman, was instrumental in convincing the easily-led Bush administration to reverse flank and boycott the Kyoto Accords, due to the impact they might have on the pocketbooks of oil conglomerate CEOs.

And what of the relief effort? While so many Americans are pledging their homes and financial resources to the victims of the flooding (the humanitarian response on behalf of groups such as the Red Cross is unprecedented, one of the only bright spots in this carnival of deplorability), an insurance economist is quoted, in an article by Jennifer Bayot in the New York Times, as saying that Americans should not expect "generosity" from insurance underwriters in the aftermath of this tragedy. In an already-famous gaffe, Dennis Hastert, the speaker of the House, publicly posited that rebuilding New Orleans would not be economically beneficial, and is, therefore, a silly idea.

David Brooks recently authored an Editorial for the Times in which he argues that political change is bound to arrive in the aftermath of this tragedy. He sees America headed down any number of roads, including a progressive rebirth, a "hard-headed law and order" mentality, or a "McCainist patriotism." However, more than political change, America needs to remedy the sickening culture of "stuff" before it can dream of recovering from the loss of life (and property) caused by (short term) Katrina and (long term) Hurricane C.

Social scientists would be remiss to separate the plight of the hurricane survivors from that of so many low-income families and individuals around the country. To be sure, those who suffered through the worst that Mother Nature had to dish out in recent days and weeks are at a substantially more imminent risk of physical and emotional harm. However, for the over thirty percent (according to the most recently released figures which, incidentally, were released in conjunction with Katrina's landfall) of Americans living below the ridiculously understated poverty line, complete calamity and devastation is only a few raindrops (or gunshots) away, as has been shown with New Orleans, Biloxi, and, to a smaller extent, Mobile. Maybe this tragedy will serve as the impetus for genuine progress in the social justice movement. Then again, haven't we always been told not to mess with nature?

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

Obaid Karki An Outcast Underdog Libertarian Diogenesist Kabbalist Spinoziste Qutbist Pantheon Hexalingual Automath Former UAE Under Secretary Independent Street-Knowledge Urban Talking-head. Unaffiliated to a State, an Organized Religion Group, a Sect or a Kin and an Anti Tribal Gentile. Every phrase is an earnest verdict. Thats my bio. If you dont agree with me thats an honor. It is immoral to appease to please. My word hurts big time because it is quality of a moment of truth US Conspiracism is a Grassroot Religion alas belief masterminded by the Establishment to Worthy the Worthless. This in-thing is sold as Partisanship to the Unemployables for free. Its the Disneyfication of the Mass to glorify a Legacy of Ghosts as Rothchild, Bilderberg, English royalty etc. Neither Mainstream Media & nor Hollywood or the Publisher's Clan would be outsourced to such task simply because they are assigned to edutain the Untalentable Aristocrat Urban Parasites. AIG American International Group, Inc. (NYSE) Google Finance Yahoo Finance MSN Money AOL Finance CNN Money Reuters 3.51 0.36 ( 9.30%) 7 Oct 4:00pm ET Open: 4.22 High: 4.22 Low: 3.51 Volume: 90285327 Avg Vol: 218654000 Mkt Cap: 9.44B Disclaimer After Hours: 3.54 +0.03 (0.85%) 7 Oct 7:59pm ET Crisis strengthens Manulife's hand in AIG bid Manulife and other insurers are expected to bid for AIG divisions as early as this week, they said. The American insurance giant is under pressure to sell Former AIG Executives Get Harsh Criticism ...



http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

SHAME ON YOU: Rep. Speier To You Mr. Sullivan,. Chairman Waxman's Eric R. Dinallo, Superintendent, NY State Insurance Dept, Lynn E. Turner, arch accountant, Securities Exchange Commission Robert B. Willumstad, CEO, Martin J. Sullivan, CEO, AIG

Obaid Karki An Outcast Underdog Libertarian Diogenesist Kabbalist Spinoziste Qutbist Pantheon Hexalingual Automath Former UAE Under Secretary Independent Street-Knowledge Urban Talking-head. Unaffiliated to a State, an Organized Religion Group, a Sect or a Kin and an Anti Tribal Gentile. Every phrase is an earnest verdict. Thats my bio. If you dont agree with me thats an honor. It is immoral to appease to please. My word hurts big time because it is quality of a moment of truth US Conspiracism is a Grassroot Religion alas belief masterminded by the Establishment to Worthy the Worthless. This in-thing is sold as Partisanship to the Unemployables for free. Its the Disneyfication of the Mass to glorify a Legacy of Ghosts as Rothchild, Bilderberg, English royalty etc. Neither Mainstream Media & nor Hollywood or the Publisher's Clan would be outsourced to such task simply because they are assigned to edutain the Untalentable Aristocrat Urban Parasites. AIG American International Group, Inc. (NYSE) Google Finance Yahoo Finance MSN Money AOL Finance CNN Money Reuters 3.51 0.36 ( 9.30%) 7 Oct 4:00pm ET Open: 4.22 High: 4.22 Low: 3.51 Volume: 90285327 Avg Vol: 218654000 Mkt Cap: 9.44B Disclaimer After Hours: 3.54 +0.03 (0.85%) 7 Oct 7:59pm ET Crisis strengthens Manulife's hand in AIG bid Manulife and other insurers are expected to bid for AIG divisions as early as this week, they said. The American insurance giant is under pressure to sell Former AIG Executives Get Harsh Criticism ...



http://www.youtube.com/watch?v=jK4_rDGEXZs&hl=en

Knights Founded 1882.mpg

The Knights of Columbus is the world's Largest Catholic Fraternal service organization. Founded in the United States in 1882, it is named in honor of Christopher Columbus[1] and dedicated to the principles of Charity, Unity, Fraternity, and Patriotism. There are more than 1.7 million members in 14000 councils, with nearly 200 councils on college campuses. Membership is limited to "practical Catholic" men aged 18 or older.[2] Councils have been chartered in the United States, Canada, Mexico, the Caribbean, Central America, the Philippines, Guam, Saipan, and most recently in Poland. The Knights' official junior organization, the Columbian Squires, has over 5000 Circles. All the Order's ceremonials and business meetings are restricted to members though all other events are open to the public. A promise not to reveal any details of the ceremonials except to an equally qualified Knight is required to ensure their impact and meaning for new members; an additional clause subordinates the promise to that Knight's civil and religious duties. In the 2005 fraternal year the Order gave US$136 million directly to charity and performed over 63.2 million man hours of voluntary service. For their support for the Church and local communities, as well as for their philanthropic efforts, the Order is often referred to as the "strong right arm of the Church". The Order's insurance program has more than $60 billion of life insurance policies in force and holds the highest insurance ratings ...



http://www.youtube.com/watch?v=-d2O0cTPd9Q&hl=en