In These New Times

A new paradigm for a post-imperial world

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Credit crisis makes Americans sell possessions

Posted by seumasach on May 13, 2008

Americans who have lost their homes in the property crisis are starting to lose their possessions too as even the cost of storage proves too much for them.

Auctioneers across the United States are conducting sales at self-storage facilities, selling off the contents of units belonging to people who have fallen behind with their payments.

Thousands of Americans have lost their homes in the sub-prime mortgage meltdown and many have turned to putting their belongings in storage ready for a day when they could buy another home.

There are 51,000 self-storage facilities across the US and business has been booming since the recession.

Ironically, many of the companies have tempted poorer customers with the same low “teaser” rates that prompted them to buy homes they later could not afford when the rates increased.

When a storage unit renter cannot meet their monthly payments, the facility’s owner is usually entitled to sell the contents – often for a knockdown price.

Blair Auction & Appraisal, which conducts auctions at self-storage facilities in the Mid-West, said it recently sold the contents of 45 units at one site in Detroit alone.

“If the site used to have 10 auctions, these days it has 15 or 20,” Wayne Blair, the company’s owner, told the New York Times.

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FACTBOX-Scenarios for Serbia after ambivalent vote, Reuters

Posted by seumasach on May 13, 2008


May 13, 2008 (SERBIAN UNITY) May 12 (Reuters) – An alliance of pro-Western parties led by the Democratic Party won first place in Serbia’s general election on Sunday, slightly ahead of the nationalist Radicals.

Results indicated a scramble to clinch a parliamentary majority and a new governing coalition. Here are some scenarios for what could happen next, with the strength of each possible grouping in the 250-seat parliament:

PRO-WESTERN COALITION WITH TACIT OR EXPLICIT NATIONALIST SUPPORT

SEATS: between 123 and 129

The only way for the Democrats to form a majority government is through an alliance with several ethnic minority parties, and one of two minor partners: the small, ultra-liberal Liberal Democratic Party (LDP) and the Socialists, the once-dominant party of the late Slobodan Milosevic.

A Democrats-LDP coalition would be just shy of a majority. The Socialists have said they cannot formally ally with the LDP — the only party that says Serbia should accept the secession of Kosovo — but they could be persuaded to support the coalition in parliament in exchange for concessions.

Political sources say the Democrats would prefer to woo the Socialists into an outright coalition, without the LDP. Such a government would have a thin majority and would probably be tested by disagreements over key issues, such as Kosovo and Serbia’s EU future.

THREE-PARTY NATIONALIST COALITION

SEATS: 127

The Radicals floated the idea of an alliance with outgoing Prime Minister Vojislav Kostunica during their election campaign, noting that the premier’s opposition to the Western-backed secession of Kosovo made him a natural partner.

If they enlisted the help of the Socialists, the nationalist bloc would have a strong majority in parliament. It would probably put Serbia’s bid for European Union membership on ice and have very cool ties with Washington and Brussels. However, they would try to reassure investors that the country is open for business, as foreign investment is key to the economic growth needed to deliver on their populist promises.

TWO-PARTY NATIONALIST COALITION, WITH SOCIALIST SUPPORT

SEATS: 107

Even if the Socialists do not formally join a nationalist coalition, there is a precedent of them supporting Kostunica in parliament, allying themselves with the government in key votes to deliver a majority. Although the partners in such a government would see eye-to-eye in most matters, the Socialists’ demands for concessions or key positions for their officials could eventually put pressure on the government.

COALITION OF NATIONALIST WITH PRO-WESTERN PARTIES

SEATS: 132

The Democrats and Kostunica’s DSS party were allies in the government that collapsed in March after only eight months in power. There has been no rapprochement on the issue that divided them — Serbia’s response to the West after Kosovo’s secession — and they attacked each other bitterly before the election.

Furthermore, the Democrats appear unwilling to make major concessions in their pro-Western programme to woo Kostunica.

NO COALITION AGREEMENT, NEW ELECTIONS

If no coalition is formed by mid-September, the country will hold a repeat election. Kostunica’s outgoing government will be in charge until then but with its mandate severely limited, further delaying important reforms.

(Writing by Ellie Tzortzi; editing by Ralph Boulton)

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Lebanon army: Crisis is to end

Posted by seumasach on May 12, 2008


11th May 2008 9:16

Lebanon army: Crisis is to end(ENDOFEMPIRE)


Siniora, had earlier, implored the army to live up to it’s responsibilities and thankfully they have done that.

BEIRUT: The Lebanese army said on Saturday it had frozen measures taken by the government against the Shiite Hizbollah movement, and called for all armed fighters to withdraw from the streets.

“The army command calls on all parties to (help restore calm) by ending armed protests and withdrawing gunmen from the streets and opening the roads,” the military said in a statement.

It said that the head of airport security, who had been reassigned from his job, would remain in his post pending an investigation and that the army would look into a communications network set up by the Hizbollah group.

“The head of airport security, Brigadier General Wafiq Shqeir, will remain in his post until appropriate procedural measures have been taken after a probe,” the statement said.

“As for the telecommunications network, the army will look into the issue in a manner that is not harmful to the public interest or the security of the resistance” against Israel, it said.

The military said it had taken these decisions in the light of a government wish that it rule on these matters. The army statement came shortly after Prime Minister Fuad Siniora made a televised address to the nation.

Meanwhile Hizbollah-led opposition said on Saturday it would withdraw its armed fighters from the capital and called on the country’s army to take control of Beirut, an official close to the opposition said.

“The opposition welcomes the army’s decision and will proceed with the withdrawal of all its armed elements so that control of the capital is handed over to the military,” the official, who spoke on condition of anonymity, said.

The official, said however, that the opposition would maintain a civil disobedience campaign against the Western-backed government.

Fourteen people were killed in fierce clashes in north Lebanon on Saturday between supporters of the government and the opposition, a security official said.

Lebanese Prime Minister Fuad Siniora urged the army to restore order after Hizbollah took over west Beirut and vowed his government would hold firm in its face-off with Hizbollah fighters.

“I have called on the army to live up to its national responsibilities without hesitation or delay and this has not happened until now,” Siniora said in a televised address to the nation that marked his first reaction to the sectarian clashes that have left 29 people dead in four days.

THE GULF TODAY

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