Category: Jobs

NPR: Where The Jobs Will Be This Decade (Audio)

NPR reports that job growth will continue to lag throughout the coming decade, according to top economists.

Audio courtesy NPR.


AIG Exec Anastasia Kelly Won’t Work for No $500,000 a Year

Anastasia Kelly, AIG’s vice chair, is quitting because of the $500,000 pay cap. She talked with Rep. Dennsi Kucinich at a May 2009 hearing as then AIG CEO Edward Liddy watched. I would have loved to hear what Kucinich had to say to her.

From NPR:

When it became clear that the Obama Administration meant business in terms of slapping pay caps on top execs at financial institutions whose very survival was due to massive taxpayer help, chief executives at financial institutions warned that they would have trouble either attracting or keeping their talent.

They weren’t kidding in the case of Anastasia Kelly at AIG. The AIG vice chair has informed her employer that she’s out of there because of the pay caps.

NPR’s Tim Robbins reported for the network’s newscast, "The company says she is leaving for what it calls "good reason", then states that reason as the pay cap. Kelly will get a reported $3.8-million severance package."

Good riddance to her.

Read more here at NPR.


GOP’s Official Network FOXNEWS.COM Says Health Care Reform Passed Senate ‘Just Barely’

From FoxNews.com:

Congress may be gone for several weeks enjoying a winter holiday, but Republicans say they will keep up the pressure on Democrats who succeeded in getting their Senate health insurance overhaul bill passed before Christmas — if just barely.

They have got to be kidding, right? The vote in the U.S. Senate was 60-39. That’s “just barely,” a real squeaker?

Then again, the Republicans were the ones whose budgeting was so incredibly horrible that our National Debt skyrocketed under George W. Bush, and the economy nose-dived into the Great G.O.P. Recession.

Or perhaps Republicans would say the United States “just barely” ended up in recession recently?

Nod to MediaMatters.org for this.


Weekly Address: Learning from History to Reform Wall Street

Washington, D.C.–(ENEWSPF)– In his weekly address, President Obama applauded the House for passing financial reform legislation and called on the Senate to continue working toward meaningful reform that stands up for consumers, sets clear rules of the road for businesses and investors and restores a sense of responsibility and accountability to both Wall Street and Washington.

Remarks of President Barack Obama
As Prepared for Delivery
Weekly Address
Saturday, December 12, 2009

Over the past two years, more than seven million Americans have lost their jobs, and factories and businesses across our country have been shuttered. In one way or another, we’ve all been touched by the worst economic downturn since the Great Depression.

The difficult steps we’ve taken since January have helped to break our fall, and begin to get us back on our feet. Our economy is growing again. The flood of job loss we saw at the beginning of this year slowed to a relative trickle last month. These are good signs for the future, but little comfort to all of our neighbors who remain out of a job. And my solemn commitment is to work every day, in every way I can, to push this recovery forward and build a new foundation for our lasting growth and prosperity.

That’s why I announced some additional steps this week to spur private sector hiring. We’ll give an added boost to small businesses across our nation through additional tax cuts and access to lending they desperately need to grow. We’ll rebuild more of our vital infrastructure and promote advanced manufacturing in clean energy to put Americans to work doing the work we need done. And I have called for the extension of unemployment insurance and health benefits to help those who have lost their jobs weather these storms until we reach that brighter day.

But even as we dig our way out of this deep hole, it’s important that we address the irresponsibility and recklessness that got us into this mess in the first place.

Some of it was the result of an era of easy credit, when millions of Americans borrowed beyond their means, bought homes they couldn’t afford, and assumed that housing prices would always rise and the day of reckoning would never come.

But much of it was due to the irresponsibility of large financial institutions on Wall Street that gambled on risky loans and complex financial products, seeking short-term profits and big bonuses with little regard for long-term consequences. It was, as some have put it, risk management without the management. And their actions, in the absence of strong oversight, intensified the cycle of bubble-and-bust and led to a financial crisis that threatened to bring down the entire economy.

It was a disaster that could have been avoided if we’d had clearer rules of the road for Wall Street and actually enforced them.

We can’t change that history. But we have an absolute responsibility to learn from it, and take steps to prevent a repeat of the crisis from which we are still recovering.

That’s why I’ve proposed a series of financial reforms that would target the abuses we have seen and leave us less exposed to the kind of breakdown we just experienced.

They would bring new transparency and accountability to the financial markets, so that the kind of risky dealings that sparked the crisis would be fully disclosed and properly regulated.

They would give us the tools to ensure that the failure of one large bank or financial institution won’t spread like a virus through the entire financial system. Because we should never again find ourselves in the position in which our only choices are bailing out banks or letting our economy collapse.

And they would consolidate the consumer protection functions currently spread across half a dozen agencies and vest them in a new Consumer Financial Protection Agency. This agency would have the authority to put an end to misleading and dishonest practices of banks and institutions that market financial products like credit and debit cards; mortgage, auto and payday loans.

These are commonsense reforms that respond to the obvious problems exposed by the financial crisis.

But, as we’ve learned so many times before, common sense doesn’t always prevail in Washington.

Just last week, Republican leaders in the House summoned more than 100 key lobbyists for the financial industry to a “pep rally,” and urged them to redouble their efforts to block meaningful financial reform. Not that they needed the encouragement. These industry lobbyists have already spent more than $300 million on lobbying the debate this year.

The special interests and their agents in Congress claim that reforms like the Consumer Financial Protection Agency will stifle consumer choice and that updated rules and oversight will frustrate innovation in the financial markets. But Americans don’t choose to be victimized by mysterious fees, changing terms, and pages and pages of fine print. And while innovation should be encouraged, risky schemes that threaten our entire economy should not.

We can’t afford to let the same phony arguments and bad habits of Washington kill financial reform and leave American consumers and our economy vulnerable to another meltdown.

Yesterday, the House passed comprehensive reform legislation that incorporates some of the essential changes we need, and the Senate Banking Committee is working on its own package of reforms. I urge both houses to act as quickly as possible to pass real reform that restores free and fair markets in which recklessness and greed are thwarted; and hard work, responsibility, and competition are rewarded – reform that works for businesses, investors, and consumers alike.

That’s how we’ll keep our economy and our institutions strong. That’s how we’ll restore a sense of responsibility and accountability to both Wall Street and Washington. And that’s how we’ll safeguard everything the American people are working so hard to build – a broad-based recovery; lasting prosperity; and a renewed American Dream. Thank you.

Source: WhiteHouse.Gov


President Obama’s Nobel Peace Prize Address – ‘A Just and Lasting Peace’

THE WHITE HOUSE

Office of the Press Secretary

December 10, 2009

Remarks of President Barack Obama – As Prepared for Delivery

A Just and Lasting Peace
Acceptance of the Nobel Peace Prize
Thursday, December 10th, 2009

Oslo, Norway

                                                                 

Your Majesties, Your Royal Highnesses, Distinguished Members of the Norwegian Nobel Committee, citizens of America, and citizens of the world:

I receive this honor with deep gratitude and great humility. It is an award that speaks to our highest aspirations – that for all the cruelty and hardship of our world, we are not mere prisoners of fate. Our actions matter, and can bend history in the direction of justice.

And yet I would be remiss if I did not acknowledge the considerable controversy that your generous decision has generated. In part, this is because I am at the beginning, and not the end, of my labors on the world stage. Compared to some of the giants of history who have received this prize – Schweitzer and King; Marshall and Mandela – my accomplishments are slight. And then there are the men and women around the world who have been jailed and beaten in the pursuit of justice; those who toil in humanitarian organizations to relieve suffering; the unrecognized millions whose quiet acts of courage and compassion inspire even the most hardened of cynics. I cannot argue with those who find these men and women – some known, some obscure to all but those they help – to be far more deserving of this honor than I.

But perhaps the most profound issue surrounding my receipt of this prize is the fact that I am the Commander-in-Chief of a nation in the midst of two wars. One of these wars is winding down. The other is a conflict that America did not seek; one in which we are joined by forty three other countries – including Norway – in an effort to defend ourselves and all nations from further attacks.

Still, we are at war, and I am responsible for the deployment of thousands of young Americans to battle in a distant land. Some will kill. Some will be killed. And so I come here with an acute sense of the cost of armed conflict – filled with difficult questions about the relationship between war and peace, and our effort to replace one with the other.

These questions are not new. War, in one form or another, appeared with the first man. At the dawn of history, its morality was not questioned; it was simply a fact, like drought or disease – the manner in which tribes and then civilizations sought power and settled their differences.

Over time, as codes of law sought to control violence within groups, so did philosophers, clerics, and statesmen seek to regulate the destructive power of war. The concept of a "just war" emerged, suggesting that war is justified only when it meets certain preconditions: if it is waged as a last resort or in self-defense; if the forced used is proportional, and if, whenever possible, civilians are spared from violence.

For most of history, this concept of just war was rarely observed. The capacity of human beings to think up new ways to kill one another proved inexhaustible, as did our capacity to exempt from mercy those who look different or pray to a different God. Wars between armies gave way to wars between nations – total wars in which the distinction between combatant and civilian became blurred. In the span of thirty years, such carnage would twice engulf this continent. And while it is hard to conceive of a cause more just than the defeat of the Third Reich and the Axis powers, World War II was a conflict in which the total number of civilians who died exceeded the number of soldiers who perished.

In the wake of such destruction, and with the advent of the nuclear age, it became clear to victor and vanquished alike that the world needed institutions to prevent another World War. And so, a quarter century after the United States Senate rejected the League of Nations – an idea for which Woodrow Wilson received this Prize – America led the world in constructing an architecture to keep the peace: a Marshall Plan and a United Nations, mechanisms to govern the waging of war, treaties to protect human rights, prevent genocide, and restrict the most dangerous weapons.

In many ways, these efforts succeeded. Yes, terrible wars have been fought, and atrocities committed. But there has been no Third World War. The Cold War ended with jubilant crowds dismantling a wall. Commerce has stitched much of the world together. Billions have been lifted from poverty. The ideals of liberty, self-determination, equality and the rule of law have haltingly advanced. We are the heirs of the fortitude and foresight of generations past, and it is a legacy for which my own country is rightfully proud.

A decade into a new century, this old architecture is buckling under the weight of new threats. The world may no longer shudder at the prospect of war between two nuclear superpowers, but proliferation may increase the risk of catastrophe. Terrorism has long been a tactic, but modern technology allows a few small men with outsized rage to murder innocents on a horrific scale.

Moreover, wars between nations have increasingly given way to wars within nations. The resurgence of ethnic or sectarian conflicts; the growth of secessionist movements, insurgencies, and failed states; have increasingly trapped civilians in unending chaos. In today’s wars, many more civilians are killed than soldiers; the seeds of future conflict are sewn, economies are wrecked, civil societies torn asunder, refugees amassed, and children scarred.

I do not bring with me today a definitive solution to the problems of war. What I do know is that meeting these challenges will require the same vision, hard work, and persistence of those men and women who acted so boldly decades ago. And it will require us to think in new ways about the notions of just war and the imperatives of a just peace.

We must begin by acknowledging the hard truth that we will not eradicate violent conflict in our lifetimes. There will be times when nations – acting individually or in concert – will find the use of force not only necessary but morally justified.

I make this statement mindful of what Martin Luther King said in this same ceremony years ago – "Violence never brings permanent peace. It solves no social problem: it merely creates new and more complicated ones." As someone who stands here as a direct consequence of Dr. King’s life’s work, I am living testimony to the moral force of non-violence. I know there is nothing weak nothing passivenothing naïve – in the creed and lives of Gandhi and King.

But as a head of state sworn to protect and defend my nation, I cannot be guided by their examples alone. I face the world as it is, and cannot stand idle in the face of threats to the American people. For make no mistake: evil does exist in the world. A non-violent movement could not have halted Hitler’s armies. Negotiations cannot convince al Qaeda’s leaders to lay down their arms. To say that force is sometimes necessary is not a call to cynicism – it is a recognition of history; the imperfections of man and the limits of reason.

I raise this point because in many countries there is a deep ambivalence about military action today, no matter the cause. At times, this is joined by a reflexive suspicion of America, the world’s sole military superpower.

Yet the world must remember that it was not simply international institutions – not just treaties and declarations – that brought stability to a post-World War II world. Whatever mistakes we have made, the plain fact is this: the United States of America has helped underwrite global security for more than six decades with the blood of our citizens and the strength of our arms. The service and sacrifice of our men and women in uniform has promoted peace and prosperity from Germany to Korea, and enabled democracy to take hold in places like the Balkans. We have borne this burden not because we seek to impose our will. We have done so out of enlightened self-interest – because we seek a better future for our children and grandchildren, and we believe that their lives will be better if other peoples’ children and grandchildren can live in freedom and prosperity.

So yes, the instruments of war do have a role to play in preserving the peace. And yet this truth must coexist with another – that no matter how justified, war promises human tragedy. The soldier’s courage and sacrifice is full of glory, expressing devotion to country, to cause and to comrades in arms. But war itself is never glorious, and we must never trumpet it as such.

So part of our challenge is reconciling these two seemingly irreconcilable truths – that war is sometimes necessary, and war is at some level an expression of human feelings. Concretely, we must direct our effort to the task that President Kennedy called for long ago. "Let us focus," he said, "on a more practical, more attainable peace, based not on a sudden revolution in human nature but on a gradual evolution in human institutions."

What might this evolution look like? What might these practical steps be?

To begin with, I believe that all nations – strong and weak alike – must adhere to standards that govern the use of force. I – like any head of state – reserve the right to act unilaterally if necessary to defend my nation. Nevertheless, I am convinced that adhering to standards strengthens those who do, and isolates – and weakens – those who don’t.

The world rallied around America after the 9/11 attacks, and continues to support our efforts in Afghanistan, because of the horror of those senseless attacks and the recognized principle of self-defense. Likewise, the world recognized the need to confront Saddam Hussein when he invaded Kuwait – a consensus that sent a clear message to all about the cost of aggression.

Furthermore, America cannot insist that others follow the rules of the road if we refuse to follow them ourselves. For when we don’t, our action can appear arbitrary, and undercut the legitimacy of future intervention – no matter how justified.

This becomes particularly important when the purpose of military action extends beyond self defense or the defense of one nation against an aggressor. More and more, we all confront difficult questions about how to prevent the slaughter of civilians by their own government, or to stop a civil war whose violence and suffering can engulf an entire region.

I believe that force can be justified on humanitarian grounds, as it was in the Balkans, or in other places that have been scarred by war. Inaction tears at our conscience and can lead to more costly intervention later. That is why all responsible nations must embrace the role that militaries with a clear mandate can play to keep the peace.

America’s commitment to global security will never waiver. But in a world in which threats are more diffuse, and missions more complex, America cannot act alone. This is true in Afghanistan. This is true in failed states like Somalia, where terrorism and piracy is joined by famine and human suffering. And sadly, it will continue to be true in unstable regions for years to come.

The leaders and soldiers of NATO countries – and other friends and allies – demonstrate this truth through the capacity and courage they have shown in Afghanistan. But in many countries, there is a disconnect between the efforts of those who serve and the ambivalence of the broader public. I understand why war is not popular. But I also know this: the belief that peace is desirable is rarely enough to achieve it. Peace requires responsibility. Peace entails sacrifice. That is why NATO continues to be indispensable. That is why we must strengthen UN and regional peacekeeping, and not leave the task to a few countries. That is why we honor those who return home from peacekeeping and training abroad to Oslo and Rome; to Ottawa and Sydney; to Dhaka and Kigali – we honor them not as makers of war, but as wagers of peace.

Let me make one final point about the use of force. Even as we make difficult decisions about going to war, we must also think clearly about how we fight it. The Nobel Committee recognized this truth in awarding its first prize for peace to Henry Dunant – the founder of the Red Cross, and a driving force behind the Geneva Conventions.

Where force is necessary, we have a moral and strategic interest in binding ourselves to certain rules of conduct. And even as we confront a vicious adversary that abides by no rules, I believe that the United States of America must remain a standard bearer in the conduct of war. That is what makes us different from those whom we fight. That is a source of our strength. That is why I prohibited torture. That is why I ordered the prison at Guantanamo Bay closed. And that is why I have reaffirmed America’s commitment to abide by the Geneva Conventions. We lose ourselves when we compromise the very ideals that we fight to defend. And we honor those ideals by upholding them not just when it is easy, but when it is hard.

I have spoken to the questions that must weigh on our minds and our hearts as we choose to wage war. But let me turn now to our effort to avoid such tragic choices, and speak of three ways that we can build a just and lasting peace.

First, in dealing with those nations that break rules and laws, I believe that we must develop alternatives to violence that are tough enough to change behavior – for if we want a lasting peace, then the words of the international community must mean something. Those regimes that break the rules must be held accountable. Sanctions must exact a real price. Intransigence must be met with increased pressure – and such pressure exists only when the world stands together as one.

One urgent example is the effort to prevent the spread of nuclear weapons, and to seek a world without them. In the middle of the last century, nations agreed to be bound by a treaty whose bargain is clear: all will have access to peaceful nuclear power; those without nuclear weapons will forsake them; and those with nuclear weapons will work toward disarmament. I am committed to upholding this treaty. It is a centerpiece of my foreign policy. And I am working with President Medvedev to reduce America and Russia’s nuclear stockpiles.

But it is also incumbent upon all of us to insist that nations like Iran and North Korea do not game the system. Those who claim to respect international law cannot avert their eyes when those laws are flouted. Those who care for their own security cannot ignore the danger of an arms race in the Middle East or East Asia. Those who seek peace cannot stand idly by as nations arm themselves for nuclear war.

The same principle applies to those who violate international law by brutalizing their own people. When there is genocide in Darfur; systematic rape in Congo; or repression in Burma – there must be consequences. And the closer we stand together, the less likely we will be faced with the choice between armed intervention and complicity in oppression.

This brings me to a second point – the nature of the peace that we seek. For peace is not merely the absence of visible conflict. Only a just peace based upon the inherent rights and dignity of every individual can truly be lasting.

It was this insight that drove drafters of the Universal Declaration of Human Rights after the Second World War. In the wake of devastation, they recognized that if human rights are not protected, peace is a hollow promise.

And yet all too often, these words are ignored. In some countries, the failure to uphold human rights is excused by the false suggestion that these are Western principles, foreign to local cultures or stages of a nation’s development. And within America, there has long been a tension between those who describe themselves as realists or idealists – a tension that suggests a stark choice between the narrow pursuit of interests or an endless campaign to impose our values.

I reject this choice. I believe that peace is unstable where citizens are denied the right to speak freely or worship as they please; choose their own leaders or assemble without fear. Pent up grievances fester, and the suppression of tribal and religious identity can lead to violence. We also know that the opposite is true. Only when Europe became free did it finally find peace. America has never fought a war against a democracy, and our closest friends are governments that protect the rights of their citizens. No matter how callously defined, neither America’s interests – nor the world’s -are served by the denial of human aspirations.

So even as we respect the unique culture and traditions of different countries, America will always be a voice for those aspirations that are universal. We will bear witness to the quiet dignity of reformers like Aung Sang Suu Kyi; to the bravery of Zimbabweans who cast their ballots in the face of beatings; to the hundreds of thousands who have marched silently through the streets of Iran. It is telling that the leaders of these governments fear the aspirations of their own people more than the power of any other nation. And it is the responsibility of all free people and free nations to make clear to these movements that hope and history are on their side

Let me also say this: the promotion of human rights cannot be about exhortation alone. At times, it must be coupled with painstaking diplomacy. I know that engagement with repressive regimes lacks the satisfying purity of indignation. But I also know that sanctions without outreach – and condemnation without discussion – can carry forward a crippling status quo. No repressive regime can move down a new path unless it has the choice of an open door.

In light of the Cultural Revolution’s horrors, Nixon’s meeting with Mao appeared inexcusable – and yet it surely helped set China on a path where millions of its citizens have been lifted from poverty, and connected to open societies. Pope John Paul’s engagement with Poland created space not just for the Catholic Church, but for labor leaders like Lech Walesa. Ronald Reagan’s efforts on arms control and embrace of perestroika not only improved relations with the Soviet Union, but empowered dissidents throughout Eastern Europe. There is no simple formula here. But we must try as best we can to balance isolation and engagement; pressure and incentives, so that human rights and dignity are advanced over time.

Third, a just peace includes not only civil and political rights – it must encompass economic security and opportunity. For true peace is not just freedom from fear, but freedom from want.

It is undoubtedly true that development rarely takes root without security; it is also true that security does not exist where human beings do not have access to enough food, or clean water, or the medicine they need to survive. It does not exist where children cannot aspire to a decent education or a job that supports a family. The absence of hope can rot a society from within.

And that is why helping farmers feed their own people – or nations educate their children and care for the sick – is not mere charity. It is also why the world must come together to confront climate change. There is little scientific dispute that if we do nothing, we will face more drought, famine and mass displacement that will fuel more conflict for decades. For this reason, it is not merely scientists and activists who call for swift and forceful action – it is military leaders in my country and others who understand that our common security hangs in the balance.

Agreements among nations. Strong institutions. Support for human rights. Investments in development. All of these are vital ingredients in bringing about the evolution that President Kennedy spoke about. And yet, I do not believe that we will have the will, or the staying power, to complete this work without something more – and that is the continued expansion of our moral imagination; an insistence that there is something irreducible that we all share.

As the world grows smaller, you might think it would be easier for human beings to recognize how similar we are; to understand that we all basically want the same things; that we all hope for the chance to live out our lives with some measure of happiness and fulfillment for ourselves and our families.

And yet, given the dizzying pace of globalization, and the cultural leveling of modernity, it should come as no surprise that people fear the loss of what they cherish about their particular identities – their race, their tribe, and perhaps most powerfully their religion. In some places, this fear has led to conflict. At times, it even feels like we are moving backwards. We see it in Middle East, as the conflict between Arabs and Jews seems to harden. We see it in nations that are torn asunder by tribal lines.

Most dangerously, we see it in the way that religion is used to justify the murder of innocents by those who have distorted and defiled the great religion of Islam, and who attacked my country from Afghanistan. These extremists are not the first to kill in the name of God; the cruelties of the Crusades are amply recorded. But they remind us that no Holy War can ever be a just war. For if you truly believe that you are carrying out divine will, then there is no need for restraint – no need to spare the pregnant mother, or the medic, or even a person of one’s own faith. Such a warped view of religion is not just incompatible with the concept of peace, but the purpose of faith – for the one rule that lies at the heart of every major religion is that we do unto others as we would have them do unto us.

Adhering to this law of love has always been the core struggle of human nature. We are fallible. We make mistakes, and fall victim to the temptations of pride, and power, and sometimes evil. Even those of us with the best intentions will at times fail to right the wrongs before us.

But we do not have to think that human nature is perfect for us to still believe that the human condition can be perfected. We do not have to live in an idealized world to still reach for those ideals that will make it a better place. The non-violence practiced by men like Gandhi and King may not have been practical or possible in every circumstance, but the love that they preached – their faith in human progress – must always be the North Star that guides us on our journey.

For if we lose that faith – if we dismiss it as silly or naïve; if we divorce it from the decisions that we make on issues of war and peace – then we lose what is best about humanity. We lose our sense of possibility. We lose our moral compass.

Like generations have before us, we must reject that future. As Dr. King said at this occasion so many years ago, "I refuse to accept despair as the final response to the ambiguities of history. I refuse to accept the idea that the ‘isness’ of man’s present nature makes him morally incapable of reaching up for the eternal ‘oughtness’ that forever confronts him."

So let us reach for the world that ought to be – that spark of the divine that still stirs within each of our souls. Somewhere today, in the here and now, a soldier sees he’s outgunned but stands firm to keep the peace. Somewhere today, in this world, a young protestor awaits the brutality of her government, but has the courage to march on. Somewhere today, a mother facing punishing poverty still takes the time to teach her child, who believes that a cruel world still has a place for his dreams.

Let us live by their example. We can acknowledge that oppression will always be with us, and still strive for justice. We can admit the intractability of depravation, and still strive for dignity. We can understand that there will be war, and still strive for peace. We can do that – for that is the story of human progress; that is the hope of all the world; and at this moment of challenge, that must be our work here on Earth.


Creating Jobs in Liberia with Palm Oil

From AllAfrica.com:

The Liberian government has announced that it is in the final stages of securing a U.S. $1.6 billion Indonesian investment in palm oil production which is expected to create 35,000 jobs.

Richard Tolbert, chairman of the country’s National Investment Commission, told AllAfrica in an interview that the investment, in south-eastern Liberia, will give a major boost to the country’s post-conflict economy.

“The government has about 33,000 persons on its payroll,” he said. “Here we have one company that will provide jobs for about 35,000 persons. These jobs, I believe, will create livelihoods for about 300,000 to 400,000 people.”

The investment deal is with Golden VerOleum, a company headquartered in Indonesia which is a subsidiary of Golden Agri-Resources (GAR), one of the world’s leaders in palm oil production.

Tolbert said when the agreement is concluded, Golden VerOleum will need more than 200,000 hectares for an oil palm plantation in the south-east, a region that is among the country’s poorest. He said in addition to creating jobs and helping to decentralize Liberia’s economy, the company has budgeted about $400 million for palm oil mills and eventually for refineries.

This is a promising move for a nation struggling to rebuild its economy. The key, of course, is that the industry grow in a sustainable manner.

President Ellen Johnson Sirleaf ‘s administration has attracted a number of big investments from multinational companies since her election in 2005, the article says. Arcelor Mittal, one of the world’s largest steel companies, began operations in Liberia in 2007 following a re-negotiation of the terms of an earlier agreement, the article says.

More on the Liberian economy:

Liberia’s economy was virtually shattered by the civil war that ended in 2003. An estimated 80 percent of Liberians were unemployed and the 2005 national budget totaled only $80 million. Taxes on the revenue generated by investments has helped the government to triple its national budget in just a few years, Tolbert said in the interview.

In her book, This Child Will Be Great, President Johnson Sirleaf leaves the door open for a second term, of course. In the aftermath of civil war, however, she says her greater goal is a peaceful, democratic transition to whoever succeeds her as president.

I hope she runs again.


Is Your Family on Food Stamps Yet?

Food Stamps

The New York Times reports that one in eight Americans—that’s 12.5%—are currently on food stamps. That’s a lot of people. But consider this: one in four children in the United States are on food stamps.

Thats 25% of all the children in the Land of Plenty.

From the New York Times:

[Food stamp use] has grown so rapidly in places so diverse that it is becoming nearly as ordinary as the groceries it buys. More than 36 million people use inconspicuous plastic cards for staples like milk, bread and cheese, swiping them at counters in blighted cities and in suburbs pocked with foreclosure signs.

Virtually all have incomes near or below the federal poverty line, but their eclectic ranks testify to the range of people struggling with basic needs. They include single mothers and married couples, the newly jobless and the chronically poor, longtime recipients of welfare checks and workers whose reduced hours or slender wages leave pantries bare.

While the numbers have soared during the recession, the path was cleared in better times when the Bush administration led a campaign to erase the program’s stigma, calling food stamps “nutritional aid” instead of welfare, and made it easier to apply. That bipartisan effort capped an extraordinary reversal from the 1990s, when some conservatives tried to abolish the program, Congress enacted large cuts and bureaucratic hurdles chased many needy people away.

From the ailing resorts of the Florida Keys to Alaskan villages along the Bering Sea, the program is now expanding at a pace of about 20,000 people a day.

Twenty thousand more people a day eating because of food stamps. According to an analysis by the New York Times, there are 239 counties in the United States where at least a quarter of the population receives food stamps.

We’re not out of the woods yet.

The Bush Legacy continues.


Liberia Sued in London Court for US $20M Debt

From the Liberian Daily Observer:

Two Caribbean-registered funds have launched a legal case in London, the UK, against Liberia over a debt that dates back to 1978.

Hamsah Investment and Wall Capital Limited sued Liberia at a British High Court Wednesday for a summary judgment to enforce a 2002 New York judgment for over US$20 million against Liberia.

The US$20 million represents about 5% of Liberia’s total fiscal budget for the year. The Liberian Government, led by President Ellen Johnson Sirleaf, is grappling with the challenges of post-war reconstruction and development amidst difficulties inherited from the civil war, and the effects of the recent global financial and economic crisis.

The New York Court rendered a default judgment against Liberia in 2002, at a time when the West African nation was embroiled in civil crisis.

The Liberian Government has swiftly reacted to the lawsuit by requesting a full trial and describing the plaintiffs as “vultures” that are after money from poor countries such as Liberia.

The troubling legal battle could pose serious setback to the country’s debt relief program under the Highly Indebted Poor Countries Initiative (HIPC), which was agreed upon during the Paris Club arrangement. Liberia’s total debt overhang last year was in the tune of US$5 billion.

Key line: "The US$20 million represents about 5% of Liberia’s total fiscal budget for the year."


Liberian President Ellen Johnson Sirleaf Takes Executive Mansion ‘On the Road’

I’ve decided to pay more attention to President Ellen Johnson Sirleaf of Liberia. I am just finishing This Child Will Be Great: Memoir of a Remarkable Life by Africa’s First Woman President. Johnson Sirleaf’s story is amazing, and her memoir offers an incredible history of Liberia.

It is not my intention now to write a review of the book. Yes, I recommend it. Johnson Sirleaf is brilliant, with a strong background in economics and finance. She appears to be keenly aware of the needs, potential and promise of Liberia, and the African continent as a whole. At this point, I want to keep up with President Johnson Sirleaf’s current work, so I’m introducing a new category on Turning Left: Liberia. Expect to read more in the days and weeks ahead.

Let me begin here: Johnson Sirleaf writes stirring and frightening accounts of the bloodbaths of former Liberian presidents Samuel K. Doe and Charles G. Taylor. Charles Taylor is currently on trial in the Hague. President Doe was captured in Monrovia, the Liberian capital, by faction leader Prince Y. Johnson on September 9, 1990. He was tortured and killed. According to Johnson Sirleaf’s memoir, Doe’s ears were sawed off before he died. No one deserves to die that way, Johnson Sirleaf comments, no matter what they’ve done.

So I’m going to start following Ellen Johnson Sirleaf. I believe she is worth of attention. For all I know, she could secretly be a scoundrel — but I don’t think so. My gut tells me she’s for real.

The latest I was able to find is a piece dated today regarding President Johnson Sirleaf taking her Executive Mansion "on the road," visiting the people where they live.

From AllAfrica.com:

Liberian President Ellen Johnson Sirleaf has virtually taken the Executive Mansion "on the road," as the implementation of development projects becomes more compelling, with the arrival of the dry season.

The President was, a little over a week ago, in Falie, Grand Cape Mount County, discussing with her direct representatives-the Superintendents-in the political sub-divisions of the country, their programs and challenges. A number of issues emerged at the forum which not surprisingly, included the administration of the County Development Funds (CDF).

The exercise has, understandably, come under serious criticism, owing to what critics see as a lack of transparency in its administration. The President acknowledged that some of the accusations may not be true. "Some may be rumors; some may be misunderstanding, but in several cases, funds have been misused or misallocated. Your responsibility is to take charge of the CDF in such a way that the mandates given by our Constitution to the three branches of Government are fully respected.

"We are not going to do anything in a confrontational way; we are going to do it through consultations, through dialogue, through working with colleagues with one common objective in mind, an objective that is common to all the branches and to all the leaders and to all the citizens of the County, and that objective is: to bring development to the people. I am sure that in that spirit, we will be able to find a solution, to come up with new procedures that will enable us to get more results and have more effectiveness and efficiency in the implementation of our County Development Projects," the Liberian leader reminded her officials, urging them to start a process of consultation to achieve the objective.

Too many times, she observed, leaders are removed from the people they serve. "Many times the People do not know; this is why sometimes the lack of information gives way to rumors and to wrong information. You are responsible to hold consultations with your citizens. You need to go into the districts, the communities, in the villages. Tell them what you are doing. Show them that the CDA comes out of a process in which they contributed. It’s their project. This is what has been done; these are the problems; this is our progress-so they can know. Because they are the ones that will defend you," she urged the County Superintendents.

I am completely impressed. This sounds just like the woman I read about in This Child Will Be Great. And I look forward to reading more.


Krugman: Emulate Europe to Spur Job Growth

Nobel Prize-winning economis Paul Krugman advises, if the United States will not employ a "conventional stimulus," then the United States should consider European solutions to the Great Recession.

From the New York Times:

Here in America, the philosophy behind jobs policy can be summarized as “if you grow it, they will come.” That is, we don’t really have a jobs policy: we have a G.D.P. policy. The theory is that by stimulating overall spending we can make G.D.P. grow faster, and this will induce companies to stop firing and resume hiring.

The alternative would be policies that address the job issue more directly. We could, for example, have New-Deal-style employment programs. Perhaps such a thing is politically impossible now — Glenn Beck would describe anything like the Works Progress Administration as a plan to recruit pro-Obama brownshirts — but we should note, for the record, that at their peak, the W.P.A. and the Civilian Conservation Corps employed millions of Americans, at relatively low cost to the budget.

Alternatively, or in addition, we could have policies that support private-sector employment. Such policies could range from labor rules that discourage firing to financial incentives for companies that either add workers or reduce hours to avoid layoffs.

And that’s what the Germans have done. Germany came into the Great Recession with strong employment protection legislation. This has been supplemented with a “short-time work scheme,” which provides subsidies to employers who reduce workers’ hours rather than laying them off. These measures didn’t prevent a nasty recession, but Germany got through the recession with remarkably few job losses.

Should America be trying anything along these lines? In a recent interview, Lawrence Summers, the Obama administration’s highest-ranking economist, was dismissive: “It may be desirable to have a given amount of work shared among more people. But that’s not as desirable as expanding the total amount of work.” True. But we are not, in fact, expanding the total amount of work — and Congress doesn’t seem willing to spend enough on stimulus to change that unfortunate fact. So shouldn’t we be considering other measures, if only as a stopgap?

But these aren’t normal times. Right now, workers who lose their jobs aren’t moving to the jobs of the future; they’re entering the ranks of the unemployed and staying there. Long-term unemployment is already at its highest levels since the 1930s, and it’s still on the rise.

And long-term unemployment inflicts long-term damage. Workers who have been out of a job for too long often find it hard to get back into the labor market even when conditions improve. And there are hidden costs, too — not least for children, who suffer physically and emotionally when their parents spend months or years unemployed.

So it’s time to try something different.

We need to do more than what we’re doing. President Obama and Congress must listen. The future of this country — and their respective re-elections — depend on it.

Read the entire column here.