Wikileaks is again doing wrong -- very wrong and dangerous

Whatever the people of Wikileaks think of themselves and their concept of "open society", what they are doing is very wrong. Not only is it dangerous for diplomats but it is dangerous for the concept of diplomacy.

Staff at overseas embassies may not be forthright in their assessments. Countries may have much less trust in each other.

I agree with Christopher Dickey : Transparency, itself, will be a casualty.

I cannot understand why some of the leading newspapers are going along with this dangerous game.

If wikileaks can get hold of these documents, what else can others get hold of ? They're opening Pandora's Box.

.

.

.

National Leadership or World Leadership ?

Kishore Mahbubani has written an insightful article "The Problem With Presidents --- We need global, not just national leaders".

.

.

.

Wikileaks is doing wrong

I disagree with any idea that wikileaks's behaviour is in the public interest. The New York Times, The Guardian and Der Spiegel may have the opinion that they are doing "the right thing" while actually condoning illegal acts, acts that might, in cases, by treason.

.

.

.

Apologies ? What For ?

Here's an article in the Business Times that I agree with : Joyce Hooi writes "Say 'sorry' for apologising" (new URL)

So, once again, the US plays the role of Goliath and decides to "strong-arm" another entity. BP has to put $20billion into a ("slush") fund ?

It might be been interesting (amusing) if BP had refused. Would American Citizens have called for boycott of British products as they did with the French when France opposed the war on Iraq ? Oh yeah. the two aren't the same, you say. Actually they are quite similar in how US Citizens behave when they are irked -- "the rest of the world, if it doesn't agree with us OR it hurts us, has to pay. We don't have to pay Afghanistan and Iraq for destroying their cities and killings tens of thousands of their civilians."

.

.

.

The BP Crisis -- or is it THE OIL CRISIS

Reactions to the massive oil flow into the Gulf of Mexico have, in many ways, been very short-sighted and self-serving. Yes, it is very correct to criticise BP for failing to stem the flow. However, many critics (and I think that Obama is one of them) have taken a "let's attack what we can see but not think about what it really means" attitude. The world now needs more oil than it needed 5, 10, 15, 25 and 40 years ago. Where will that oil come from ?

Just as the 11-September-2001 terrorist attack could have been an inflection point in weaning everyone away from the dependence on oil, lessons from the BP crisis could have been drawn. Oil companies, the US government, all Governments around the world and consumers could have taken a long-term and informed view --- this incident shows the major risks with current methods of economic and industrial growth.

The responses so far have shown a serious lack of maturity.

Matthew Lynn writes "BP Needs to Tell Whining Americans to Take a Hike"

.

.

.

Social Media

Gary Bahadur writes about "Social Media *Insecurity*"

.

.

.

The Interconnected World

Thomas Friedman's articles "A Question from Lydia" and "Bumper to Bumper" on the interconnected world are worth reading. "Situational Values" and "short-term thinking" are the bane of civilization in recent decades. The margin for error is seriously reduced but leadership in setting standards and devising methods is sorely lacking.

.

.

.

Economic News Update 21-May-10

Dubai reaches another agreement with creditors to postpone repayments (and pay low interest rates in the meantime). “It’s fair to say terms of the deal are not commercially attractive, but it’s better than the other option, which is not to repay at all,” said Paul Cooper, managing director at Sarasin-Alpen & Partners Ltd. in Dubai.

Will the Euro die ? Matthew Lynn seems to think so.

.
.
.

The Weakest Link

Daniel Gross, writing in Newsweek, points out how Corporations and Governments adopt the zero-sum approach of allowing the weakest link to fail. Their refusal to help an entity that is "going down" may well come back and hit them with greater force.

He cites three examples :

a. Oil companies not coming together to handle the BP Oil Spill --- the repercussions on the rest of the industry, not BP alone, will be severe

b. Banks in 2008 not coming together to bail out their failing brethren -- now they suffer much greater public ridicule and oversight

c. The EU not putting it's act together on Greece -- other countries may well get dragged down as well.

.

.

.

School Attacks in China

The spate of attacks on primary school children continues. What is happening ? It is shocking and heart-wrenching. Something is terribly wrong with a social order that causes these incidents.

.

.

.

"Avatar" is NOT the Best Picture

Who really thinks 8 feet tall blue humanoids with the grace that would be a cross between deer and monkey are "best picture" material ?

US Banks in Short Term Lending at 120% p.a. ?

Shocking ? How desperate banks can be ? "Payday-Style Loans". Is this only in the US ?

(They'd be called Loan Sharks in Singapore !)

.

.

.

Is Assassination Legitimate ?

Alasdair Palmer has written an article that raises questions : "How murder has become an accepted tool of foreign policy".

.

.

.

"Data-based snooping"

Curt Monash has written recently about "Data-based snooping" and issues of privacy and liberty at DBMS2 and NetworkWorld.

He raises some very valid concerns and makes some legal-political recommendations.

.
.
.

Obama's latest plans for banks

The Economist has begun writing about Obama's plans.

The Europeans might be sceptical of restrictions on the size and operations of banks will get implemented. “A lot of people here are saying that we shouldn’t fool ourselves into doing something that America will not do because of lobbying by American banks,” says Nicolas Véron of Brueghel, a Brussels think-tank.

However, American bankers might be wary of open dissent. An investment banker likens the atmosphere to the aftermath of the September 11th attacks, when no one dared call for restraint in torturing suspected terrorists. That choice of analogy may reveal as much about the depth of Wall Street’s persecution complex, and its inability to face up to its role in the crisis, as it does about those beating it with sticks.

However, Bloomberg reports that Regulators and Bankers might find common ground and seek a truce. “We had good discussions and agreement among all the participants,” said Brian Moynihan, the CEO of Bank of America, the largest U.S. bank.

.

.

.

Economic / Business News Update : 08-Jan-10

Turner's Plans for a Tobin Tax face severe opposition

One of the silly responses by "respectable" peope was :

"“I was genuinely offended,” Spencer said at an industry awards dinner in London. “Using his logic, I presume he would describe Porsche as socially useless for making cars that go twice the speed limit or Jimmy Choo for making shoes in dozens of different colors.”"

Let me say : I agree that Porsche IS socially useless and Jimmy Choo shoes should be taxed at an additional 150%.

Maybe these leaders of the Financial Services industries are grossly out of touch with human civilization themselves ?

Remember Goldman Sachs saying "I'm just a banker doing God's work" ? Inexcusable attitude, that !

Economic / Business News Update : 07-Jan-10

1. William Pesek : Black Swans abound in 2010

2. Mark Mobius : Bull Run at Risk of 20% Corrections

.

.

.

Economic / Business News Update : 05-Jan-10

1. An article on how Visa (and the banks) make money on Debit Cards.

2. Stephen Roach sees Double Dip Recession as possible

.

.

.