• Venha trocar experiências com outras pessoas alinhadas com o tema!
• Construir um repertório comum sobre educação em sustentabilidade!
• Fortalecer alianças para a sustentabilidade!
  
  

I told you to hold on to your hat. Even though the economic rescue plan was signed last week by the President, the stock market reacted as if it didn’t get the news.  Two points to note: first, this economic upheaval is a global issue, not just national.  The stock exchange reacted based on what happened in earlier time zones. Although we have a plan, many other nations are still grappling with what to do. Iceland is in dire straits and could become an iceberg. And secondly, this is not just about housing any more. We are in a recession and the market is reflecting the economic woes.

The main purpose of the plan was to unclog the financial system and keep credit flowing. The plan was to act like an ad hoc Drano with the intention of getting money flowing for businesses and home loans. The Treasury will need to quickly begin implementing in order to make sure the plan has it desired effect. Nearly seventy percent of our GDP is based on consumer spending. And therefore our financial health depends on the free flow of credit.

The plan will not stop the recession, but it may lessen its harshness and reduce the period of time it will take to recover. It is a step in steadying the patient---the economy. We will know it is working by watching four credit market signs according to Kathleen Pender’s article in last Sunday’s SF Chronicle. The four markets include: 1) Three month treasury bill yields—yields have been driven down to under a half percent. It needs to get back to 2 percent.  2)  The Libor rate—the rate at which banks loan to each other. It should be close to the federal funds rate---2 percent.  Last week it was at 6 percent. 3) The Ted spread—this is the difference between the 3-month Libor and the 3-month Treasury yield. It is about .5 percent and it needs to get above 1 percent. 4) Corporate bond spreads--- this is the difference between high-grade corporate bonds and junk bonds.  The spread currently is about 6.5 percent. In May 2007 it was 1.5 percent. A reasonable rate would be around 4 percent.  These are the litmus tests. If they return to more reasonable numbers then the plan will have worked.  Now you know what to watch for.

How does all of this affect the housing market?  Our September sales, both open and closed, were up over last year, however average sales price was down by an equal amount. The lower end of the market continues to dominate the number of sales driving both median and average price down.  The higher end of the market has been less active due in part to the cost and terms of jumbo loans (those loans over $729,750) and that buys in the higher price ranges are more discretionary.

Volatility in the financial markets, increasing unemployment and uncertainty in the direction of the economy is putting up a yellow flag for a number of buyers. It is almost like putting the process on pause.  Open house activity has slowed in some markets like Marin and the wine country.  The East Bay and San Francisco are still seeing decent numbers for homes that are open for the first and second times, but the number of buyers is declining.  Transactions are taking longer to close as banks and mortgage companies are demanding more documentation and requiring buyers to meet more stringent guidelines. The volatility of the economy is also taking its toll. One buyer walked away from a large deposit due to their rapidly changing financial position. Yes, just like the financial markets, the housing market is feeling the stress. For those brave and financially stable buyers, there are rewards in negotiating exceptional values.  As has been said many times, the best time to buy is when others aren’t.

Believe it or not there are still multiple offers. Again with most occurring under the million dollar range. Those properties that are competitively priced (some would say well below market) and in the most desirable neighborhoods are receiving a great deal of attention. For example, a REO 3bedr. 2 bath home in Larkspur priced at $789K received 22 offers and, from my understanding, went over a million.  Go figure.  Most multiples are receiving between 2-4 offers and going a little below or above list price.

Next week will be the full review of September numbers around the Bay. I believe those numbers will reflect what I have been reporting over the last four weeks---sales numbers are up over last year, median/average prices are dropping, and inventories are declining as distressed properties are being sold and fewer listings are coming on the market.

Until then, buckle up.

http://www.youtube.com/watch?v=-Tze6Ir2jNY&feature=related

Written by Avrom Goldman, President CEO Pacific Union

Edited by Dan Joy

This has been one of my favorite songs of all time, and it gave me goosebumps the very first time I heard it. It still does. It's hard to listen to sometimes, and I have noticed that it affects many others the same. It is a fitting tribute as well to those generations past, whom sacrificed so much.

Mark Knopfler's guitar playing is transcendental, and words cannot describe how I admire his playing. I wish I had the tiniest fraction of his talent. I'm including two different video versions of Brothers In Arms, by Dire Straits, so you can hear the album version and so you can see it as it was played live in 1988, at Nelson Mandela's birthday celebration in South Africa. I don't care about the politics of it, but even if you can't escape it, it is worth seeing merely on the strength of the artist's performance.

That second video is just so haunting, as befits the song. Eric Clapton, who was there to perform as well, backed Mark Knopfler on this song---and, I daresay, you can see that even Slowhand was awed by the moment. If you have ever wondered what a musician making magic and touching something divine looks like, be sure to watch the last minutes of the 1988 Mandela birthday tribute performance. It is humbling. It is what music is meant to be.

Today's Song of the Day goes out to those of you who were there, and those that are no longer with us.

The album version...

The Live performance in South Africa, 1988...
[From 5:18 to 6:32 there were technical difficulties, but hang in there, as soon as the video comes back, it is simply amazing.]

• Release the scientists
• Review currents rules and regulations and start enforcing the ones that fit our vision
  • FDA
  • EPA
  • Fed Reserve
• Make government more transparent and more easily transparent (pork, bailout actions)
• Plan to use the bully pulpit to stake our positions, challenge the public, open our arms, speak to the world
• Review all subsidies; identify those that need to be re-focused; enforce oversight that already exists; make transparent; determine how to re-focus on future vision
  • Auto industry
  • Ethanol / corn industry
  • ADM, farm,
  • Oil industry (i.e. keep some subsidies but only if they are used for green/ future)
• Identify those in the pentagon who can look forward to helping us figure out how to use our military most effectively, as last resort, not first resort
• Begin legal process to close loopholes
  • Enron
• Hire Al Gore as energy / environment/ climate czar (across departments and agencies) [cabinet level position]
• Ask for reports and assessment from professional bureaucracies on how to get us back on track
• Tell Americans and the world the truth
  • Economy
  • Global interconnectedness
  • Climate change
  • Education
  • Health care
  • Price of energy
• Ask us to do something specific
• Talk to the mayors and governors who are way ahead of the Federal government on critical issues: energy, climate, environment, health care, social justice – ask for their advice on how to best support them and get our of their way (beyond money)
  • CA
  • NY
  • WA
  • OR
  • Seattle driven commitment (To date, 884 U.S. mayors have signed the Mayors' Climate Protection Agreement to meet the Kyoto Protocol standards by 2012 per Washington Post 10/7/08 - If They Came Here… Tuesday, October 7, 2008; Page A21)
• Ask for a panel / study of prisons and how to reduce % of our populations that is in prison
• Ask for a symposium of far left and far right to identify common ground on major issues
• Close Guantanamo
• Review progress on Katrina
• Review and recommend health care system that focuses on prevention rather than disease
• Recommend new cars and rental cars don’t have headlights on during the day
• Recommend that cities and buildings review and reduce light pollution
• Review subsidies and tax rates and refocus benefits for companies that hire in the US and keep jobs in the US
• Review economic aid to other countries to make sure that we are getting our fair share of aid, recommend reductions especially if they are not focused on education and self-sustainability (see recent article about Indian programs)
• Review subsidies and tax policy for charities that provide no benefit to US (all offshore efforts, especially the big ones like Gates / Buffet)
• Review and recommend compensation policies – and work it through tax benefits – to re-balance workers and executive pay – so economy will function better – if economy is based on shopping, we need more shoppers out of debt
• Approve CA + NY + 15 other states resetting auto emissions standards – Fed so far has resisted.
• Identify and reward companies that are leading in global warming, renewable energy, Slow Food, LEED initiatives.

Now Congress and the Federal Reserve have saddled us with an incredible amount of debt to bail out those that started this mess in the first place.

While refusing to give an actual number on how much they would buy, $1.3 trillion worth of short term credit would qualify. Let's use that to figure out how fucked We the People just got by Congress and the Federal Reserve.

How much will America be in debt now thanks to Congress and the Fed?

$700 billion bailout plan
$600 billion in cash loans to financial institutions
$1.3 trillion in commercial paper/short term debt
----------------------------------------------
$2.6 trillion dollars in one week!
$300 billion in already outstanding cash loans to financial institutions
----------------------------------------------
$2.9 trillion in Federal debt!

We the People just got fucked to the tune of $2.6 trillion dollars in less than a week. Congratulations America, you are the world's most expensive piece of ass. How's it feel?

And that on top of our preexisting deficit of $10,198,103,073,856.34 as of Oct. 7, 2008. [Note: I have seen claims it was actually five times higher, at $50 trillion...but I went with the lowest figure I could find. See? I'm not all gloom and doom and just out to make things look or sound worse than they are!]

Our national debt has been increasing about $3.18 billion every day since September 2007. Which means every 314.4 days we go another trillion dollars in debt.

Oh yes, don't forget that the trade deficit back in April of this year was $62.3 billion. It shows no signs of shrinking and has been growing steadily over the years.

And all the while, our government wants to approve free trade agreements with Columbia, South Korea, and Panama---giving everyone else a break and robbing American taxpayers and workers of billions of dollars in revenue.

Did you catch that? Your Congress is seeking to reduce the burden on the people and businesses of those in other countries while increasing your tax burden and the amount of debt you and your children will be responsible for.

How much representation did YOU have in all of that? Did you want that debt? Did you get to vote on that debt? Or did someone elected by an electoral college that subverted your vote create an incompetent administration and do it? Did some Congressman/Congresswoman do it even though their constituents warned them not to and asked them not to?

And CEO's and executives at all these institutions going under that caused this are making off with billions in severance packages, spitting in the eyes of the American people now suffering because of these executives greed, lack of competence, mismanagement, criminal conduct, and lack of ethics and concern for their countrymen.

It is as if our own government is waging an economic war of repression against the American people. No wonder the minimum wage is kept low (in keeping with The Iron Law of Wages) and debt is heaped upon us, and the number living below the poverty line (as established by our own government) keeps growing every year. In little over a year, that number has jumped from 35 million to more than 39 million.

Maybe it's time We the People come up with our own solution to this crisis, like ridding ourselves of those that got us into it in the first place and those politicians and judges who made it all possible through their collusion and failures? That will fix our economy quicker than anything the Congress and the Federal Reserve can come up with.

No taxation without representation. It was enough for our founding fathers. And having politicians who represent their own interests or those of corporations instead of those of the American people is the same as having no representation at all. Semantics do not substitute for ethics and principles.

I can only imagine the founders of our nation are ashamed of the weaklings and cowards we Americans have turned out to be.

Last night I spent about 5 hours on more red noise plus signal analysis.  I found some incredible things regarding the methodology of statistically sorting and calibrating proxy data.  While others have examined and published papers on how hockey sticks can be created from red noise, I am taking this to the next step.  What I have done here is to impart artificial known signals in the red noise and go look for it.

Last night I expanded that work to put in my red noise data the CPS northern hemisphere composite data from Mann08 and then used a similar methodologies to his to go look for it.

If you are not familiar with my other work go here first.

Simple Statistical Evidence Why Hockey Stick Temp Graphs are Bent!!

Below is the one curve M08 provided as a result from his proxies.

This is one continuous curve but I colored the end red to show the 1850-1995 calibration range used below in all calculations.  This curve is actually an average of 10,000 red noise graphs with the signal added in.  It is a near perfect match to the original and can be verified by the quality of the tail from 0 to 200 AD.  There is a 0 signal and the average of the red noise is basically 0 here.

So I have 10,000 series of red noise plus a perfect known signal added to each one.   How can we find the best proxies to recapture the data.   Paleoclimatology uses statistical correlation, but they only have temperature for the red section of the graph above so they correlate to the section they know.  This seems a reasonable assumption but is actually a fatal flaw in the math.  Let's see what happens just by sorting for the best fit to the red section and averaging the result.

The blue line is the original curve from the first graph.  The purple/pink line is all data with a correlation r> 0.1.  Look what happened, it amplified the signal in recent times just from sorting.  What I find interesting is that historic data (prior to the 1850-1995 calibration range) fits the original data almost perfectly.   There is no amplification.  Well naturally you would say look for better correlation data in the calibration range and you will get a better fit to the original series.  I reran the same test with r>0.8 and I got the yellow graph.

The Yellow much higher correlation line is even more amplified in recent times yet historic data is not magnified.  When we consider how correlation works flat low amplitude but noisy signals are given low r's when compared to data with a sloped signal.  This natural and correct mathematical process prefers high slope data.  The result is clear above.   Higher correlation to a positive (known calibration data) increases the amplification of a signal inside red noise.

Well this isn't what paleoclimatology does -- completely.  In paleoclimatology, high correlation data are then scaled so the calibration range has a signal that is a perfect match to the known.

In my example here we have the advantage of a perfect known signal and a huge set of proxies to sort so we can see clearly what the scaling does.

I used the following process to scale the calibration data from the two graphs above.

Sort proxies by  r>0.8

Fit a line by least squares to the red section of the top graph

Fit a line by least squares to all remaining passed r proxies

Scale and offset each proxy such that linear least squares after magnification has the same slope and intercept as the linear least squares in the red section of the original graph.

This process is analogous to the EIV and CPS scaling values in M08.  I am not an expert in these methods but since they use linear scaling to make the best fit of proxy data to the red calibration data it is a good approximation.  I believe this simplified method will produce a result so similar it would scare the original authors.  Anyway, it doesn't matter which method I use for this demo, the result is the same.

Here is the r>0.8 graph in red on top of the original signal in blue.

The red signal in the calibration range from 1850-2000 is shaped almost perfectly like the original data series.  But look what happened to historic values.  For those familiar to my recent posts (link above) we aren't too surprised by this result.  But for those who haven't seen it, what you are looking at is a demagnification of historic temperatures based on the basic methodology used in every hockey stick paper.

We know the signal is shown in the blue graph, I put it in the red noise with a + sign.  Yet the statistics process of sorting for the best correlation and magnifying it to fit "known" values creates a substantial demagnification of historic values.

Again if you are familiar with my other work you can see the true zero of the red curve offset by the amount shown in the tail.  Not only is the data demagnified it is offset!

You might have noticed I did the high correlation r>0.8 data first.  Science is kind of fun, this next graph caused me to spend hours on what I thought was going to be an easy post.  What happens with an r>0.1 through the same process.  This is the same data as shown in the purple/pink line of the second graph but each series went through the scaling process to match the calibration range data to the highest degree possible.

Ouch, something went wrong.  I spent hours thinking my software had a problem.  I tried different red noise levels and poured through thousands of lines of code. No problems. What?

It took a while to realize what really happened.   The r correlation process rejects flat (nar zero) slope signals in the calibration range.  A loose r value of 0.1 allowed very flat slope correlations to be accepted.  These individual series are then magnified by a multiplier until they fit the original slope of the calibration resulting in a few series having very high weights compared to the rest.

Think of it like this, assume our calibration data has a slope of 1.  The red noise + signal has slopes varying from below zero to above.  If a proxy shows enough correlation to barely exceed the r>0.1 value some of these proxies will likely have a flat slope say 0.01.  This series would then be magnified by 100 times to match the known signal.  Which it clearly did in the calibration period from 1850-1995 (my last graph above).

This is actually the correct result!  I also find it a stunning revalation and confirmation of how others have shown by looking at the magnification coefficients from actual papers that these hockey stick graphs are primarily a few series in historic pre-calibration times.

Here's the big revelation for me

The math forces historic values to be comprised of the worst r value series!

The lowest r values get the highest magnification.  Why didn't I see that before?

I hope my readers find this to be as huge of a result as I do.  I had been guaranteeing myself that the historic signal would be much flatter than recent times but as I demonstrated in my other post (link above), flat sloped proxies cause amplification of the historic signal.  You know science is fun even when you are wrong in your expectations.  I just didn't expect a few proxies to get so much magnification that they took over the rest.

By the way r>0.1 resulted in 3399 or 34% of my original random series plus signal being accepted.

Comments and criticisms welcome.

Also, from M08 we know they added fake upslopes to the ends of 90% of the 1209 series.   This would have the effect of making sure that not one proxy took over the historic graph.  Think about that for a minute!

Since the inception of the nuke just before World War II, the world has teetered tottered on a nuclear merry-go-round of "we've got them" "we've used them" "now you've got them" "but you can't develop them".

Yes nuclear reactions produce lots and lots and lots and lots of clean energy. However is it worth the lots and lots and lots of nuclear BOMBS? Should humans have their hands in splitting atoms at all? My heart felt answer NO!

But my ideology is futile, because they are already here. Around every global corner and on every global street. They are here. It is easy to get them because our wise Asian neighbors love to sell them!

Now tiny rougue nations with big vicious voices can put their hands in their pockets and poke a nasty pistol at the whole world. They will. They are. And you had better be ready to see it go off before your very eyes.

View Wikipedia's List of Nuclear Weapons Here

Anna Tibaijuka serves as executive director of UN-HABITAT, the agency which promotes socially and environmentally sustainable towns and cities and adequate shelter for all. "Cities consume upwards of 75 percent of all energy and contribute to an equally substantial amount of greenhouse gas emissions. Cities must therefore be an integral part of any mitigation efforts," she said on World Habitat Day, which is observed on the first Monday in October each year.

The theme of this year's World Habitat Day is "harmonious cities," and the global observance this year is being led from the Angolan capital, Luanda.

The Angolan capital city of Luanda is undergoing rapid urbanization. The celebrations in Angola are intended to show the world how, after nearly three decades years of conflict, the country is progressing in the establishment of harmonious cities through improvements in urban infrastructure and services, and a new urban development strategy.

Read More

Finanzsektor, Wirtschaft und Bevölkerung sehen seit einigen Tagen den Traum vom sicheren Geld dahinbröckeln. Auch wenn es noch immer nicht bis in die letzte Ecke aller Bevölkerungsschichten durchgedrungen zu sein scheint, wir befinden uns mitten in der schlimmsten Krise seit der Weltwirtschaftskrise der (19)20er Jahre.
Das künstliche monetäre Ungetüm, welches die Regierungen dieser Welt seit Beginn des letzten Jahrhunderts aufgebaut, ist endgültig unterspült worden und steht vor dem Zusammenbruch. Ob die letzten Notflickarbeiten der nationalen Ministerien noch einmal einen Zusammenbruch verhindern können, ist fraglich.
Vielleicht ist nun endlich der Zeitpunkt gekommen, wo die Schreie der vom Geldsystem versklavten Bevölkerung auch beim Establishment (Grossbanken, Kreditzirkel, Grosskonzerne, etc.) ankommen. Es wäre höchste Zeit für eine Revolution. Egal wie diese aussieht, Hauptsache wäre, es würde eine faires Handelsgebilde auf Basis einer stabilen, nicht zinseszins-etc-verseuchten Währungsreform (inkl. Rückbindung an den Goldstandard?) entstehen. Dies ist wohl auch kaum mit einem Währungsmonster wie dem Euro machbar, sondern wie auf kleinerer/regionaler Ebene.
Aber wir werden sehen, was sich in so einem Fall, einige schlaue und hoffentlich wenig korrupte Köpfe überlegen werden und dann auch dem Volk zur Abstimmung vorlegen (nicht an diesem vorbei, wie bisher immer geschehen).

An der Spitze dieser Welt sitzen einige kranke Geister, die seit langer Zeit versuchen, die restlichen Menschen dieses Planeten zu versklaven. Dies mag hart, grössenwahnsinnig oder somit absurd klingen, aber das ist die Wahrheit. Manche mögen diese Wahrheit Verschwörungstheorie nennen, dies ändert aber nichts.
Fakt ist, das das über die Jahrzehnte entstandene Finanzmonster von Anbeginn an eine Totgeburt war. Ein Crash ist irgendwann unausweichlich und scheint auch Lange im Vorfeld geplant gewesen zu sein (siehe dazu die Beiträge in der Rubrik "Geheimgesellschaften").
Lasst euch nicht einschüchtern! Die Menschheit hat schon grössere Katastrophen überstanden. Falls es wirklich soweit kommen sollte, dass Unruhen sogar mit militärischen Mitteln niedergeschlagen werden müssten (interessanten Entwicklungen hierzu auch in Deutschland bezüglich Bundeswehreinsatz im Inneren),
ist die regierende Klasse endgültig dem Untergang geweiht. Nichts fürchten diese mehr als den unkontrollierbaren Hass der Massen. Sind nämlich erst einmal Namen gefallen, werden die Köpfe deren Träger rollen.

Da wir oben bei Gold waren. Heute ist es zum ersten Mal in der Geschichte der grossen Goldhändler zu absoluten Bestellungsannahmestopps gekommen, da der Nachfrage der vergangenen Tage, trotz Zuzug zusätzlicher Ressourcen, nicht mehr nachgekommen werden kann.
Einige Geister sind seit einiger hellwach und retten ihre Ersparnisse ins sichere Lager der Rohstoffe. Ist es denn wirklich schon Zeit zur Panik um das eigene Hab und Gut, wie es auch schon die einschlägigen Blogseiten suggerieren oder ist alles kein Problem und bald überstanden, wie viele Massenmedien uns immer noch Glauben machen wollen?
Wie immer, wäre ein vernünftiges Mittelmaß anzustreben. Seid auch wach. Kredite und Schulden vermeiden, einen Teil des Geldes in festen Werten anlegen und die Entwicklungen beobachten. Zu beginnen, sämtliche Ersparnisse sofort von den Konten zu reissen und grosse Krisendepots an Nahrungsmitteln und Scheinen anzulegen, ist sicher ebenso übertrieben, wie blindes Vertrauen in unsere, von Miss Merkel & Co zugesicherten, Guthaben zu besitzen. Rezession und Inflation sind auch nicht erst seit den letzten Tagen zu beobachten.
Der Prozess der Negativentwicklung auf den Märkten und Börsen ist nun schon drastisch zu verzeichnen. Dies ist sicher nicht deren natürliche Schwingung und es mag durchaus sein, dass das Ende noch lange nicht erreicht ist.
Ich denke gegen Ende des Jahres dürften wir spätestens schlauer und wohl leider auch etwas ärmer sein.
Aber das Wichtigste ist im Moment wohl erst einmal Ruhe zu bewahren, sich um Familie und Beruf kümmern und nicht wie diese kleinen süssen Kugelaugen-Affen erstarrt vom Baum zu fallen, wenn es donnert und blitzt.
Auf unserem deutschsprachigen Fleckchen der Erde wird zuvor auf jedem Fall vorher zumindest noch längere Zeit gejammert! ;-)

http://www.manager-magazin.de/unternehmen/artikel/0,2828,582176,00.html
http://www.spiegel.de/wirtschaft/0,1518,582490,00.html
http://alles-schallundrauch.blogspot.com/2008/10/es-ist-zeit-sehr-aufmerksam-zu-sein.html
http://alles-schallundrauch.blogspot.com/2008/10/zeitgeist-addendum.html
http://alles-schallundrauch.blogspot.com/2008/10/der-euro-wird-zerstrt.html
http://www.n-tv.de/1033867.html?061020081909
http://www.duckhome.de/tb/archives/3684-Das-Geld-ist-nicht-weg,-es-ist-nur-woanders.html
http://www.sueddeutsche.de/finanzen/925/312836/text/

Writers can submit up to three entries of both fiction and nonfiction for free. The only requirement is that you register with Words of Belief (which literally takes two minutes), and then you can e-mail your entries to contests@wordsofbelief.com.

Participants are also required to include a standard cover letter as well as contact information, so be certain to review the guidelines before you submit.

Read the complete guidelines here>>

Deadline for Submissions: 11:59 PM EST, November 21, 2008

Winning Prizes

One Grand Prize winner will receive…

» $500.00 check
» One printed and bound copy of the published Anthology

One Editor’s Selection will receive…

» $250.00 check
» One printed and bound copy of the published Anthology

Thirteen additional finalists will have their stories featured in the Words of Belief Anthology to be published by the end of November, which means the finalists will have their copies in time for the holidays.

All non-finalist participants receive…
» One electronic copy (e-book) of the published Anthology

How is Words of Belief different from Wordclay?

Good question, with a good answer. True, the publishing wizard is powered by the same user-friendly technology, but Words of Belief offers authors free ISBNs upon publishing, which means that all WOB authors receive free, unlimited global distribution for each title. Explore their site, and feel free to post questions or comments about WOB or their contest here whenever you desire.

Browse Words of Belief now>>

Writers can submit up to three entries of both fiction and nonfiction for free. The only requirement is that you register with Words of Belief (which literally takes two minutes), and then you can e-mail your entries to contests@wordsofbelief.com.

Participants are also required to include a standard cover letter as well as contact information, so be certain to review the guidelines before you submit.

Read the complete guidelines here>>

Deadline for Submissions: 11:59 PM EST, November 21, 2008

Winning Prizes
One Grand Prize winner will receive…
» $500.00 check
» One printed and bound copy of the published Anthology

One Editor’s Selection will receive…
» $250.00 check
» One printed and bound copy of the published Anthology

Thirteen additional finalists will have their stories featured in the Words of Belief Anthology to be published by the end of November, which means the finalists will have their copies in time for the holidays.

All non-finalist participants receive…
» One electronic copy (e-book) of the published Anthology

How is Words of Belief different from Wordclay?
Good question, with a good answer. True, the publishing wizard is powered by the same user-friendly technology, but Words of Belief offers authors free ISBNs upon publishing, which means that all WOB authors receive free, unlimited global distribution for each title. Explore their site, and feel free to post questions or comments about WOB or their contest here whenever you desire.

Browse Words of Belief now>>

HA NOI — The State Securities Commission (SSC) is putting in anti-crisis proposals to the Government for the local stock exchange, joining international efforts to minimise impacts from the US financial recession.

SSC’s chairman Vu Bang was joining a discussion yesterday with commercial banks, securities firms and small and medium-sized enterprises on how to deal with the inflationary period.

The conference focused on the potential impact of the US financial crisis on local markets, discussing solutions for enterprises to overcome the inflationary period.

"The US recession has just influenced domestic export, the cost of some consumer goods and the disbursement of foreign direct investment in the country," said Bang.

For the local stock exchange, the recession was primarily reflected in the fluctuation of investors’ attitudes on securities investment, mainly due to the depreciation of shares in global markets – the mechanism used to compare share value in the local exchange, he added.

"In addition, foreign institutions, due to common challenges, will restructure their investment capital in the local exchange, which could restrain foreign indirect investment in the future," said Bang.

"However, we believe that we can solve the possible abnormalities in the local stock exchange which relates to foreign indirect investment, based on what we have in foreign reserves and the foreign investment portfolio," he added.

He noted the commission continued with strict management of securities institutions in the market. Investment activities from securities firms would also be closely controlled.

"Tighter management will help promote market liquidity, thus trading action will be more active," Bang said.

The commission recently proposed to the Government a series of revised securities regulations, such as allowing more than one trading account for traders and tightening the criteria to establish securities firms.

The revision aimed to promote market liquidity, as well as encourage investors to trade. —