G-20 Seoul Summit 2010

November 14, 2010

By Padmini Arhant

The G-20 Summit was held in Seoul, South Korea on November 11 – 12, 2010.

Among many important economic issues, the trade imbalances and currency devaluation had drawn the representatives’ attention.

The two leading economies – U.S. and China expressed concerns over the respective trade surpluses and deficits attributed to currency management.

Likewise, the U.S. Federal Reserve proposal to interject $600 billion for economic revival expected to weaken the U.S. dollar while strengthening exports was met with resistance from competing trade partners such as China, Germany, United Kingdom, Brazil…citing the undue advantages to U.S. in the overseas export market.

It is well known that China has benefited from maintaining renminbi under market value boosting its trade to different nations especially the United States due to MFN and the primary creditor status.

Accordingly, China’s trade surplus would be different when evaluated in real market conditions.

If United States were to pursue similar trend with Federal Reserve intervention then both economic powers would essentially contribute to trade anomalies with their trading partners across the globe.

The arguments on both sides are valid in terms of the policy’s impact on the individual and global economy. Arguably the importing countries, developing nations in particular would be drastically affected with cheaper exports flooding their market giving rise to trade deficits and inflation.

Balance of trade between nations enhancing mutual economic prospects is critical in the competitive global environment.

Therefore, the G-20 leaders’ general agreement on this issue to move toward market determined exchange rate systems deterring currency devaluation and exchange rate or capital flow volatility is a sensitive measure in dealing with trade or currency related disputes.

United States as a consumer economy with Germany and China being the export economy is another contentious issue demanding necessary adjustments to the disproportionate trading activities.

Further, U.S. economic recovery is vital for the global market dependent upon U.S. consumerism and offshore capital investments.

The advanced economies could perhaps share the burden with the United States by allowing imports from low income countries and entry to US manufactured high end goods in return for their shipment to US shores.

At the same time, U.S. targeting the emerging and developing nations for exports has a greater responsibility in adopting fair trade practices rather than free trade impositions such as NAFTA, DR-CAFTA…that is proved to be devastating for the vulnerable population in these regions.

The globalization concept is conspicuously embraced at the meeting with pronounced commitment to reject protectionism.

Yet, the irony is the trade and currency wars prompting decisions to stimulate domestic growth through local demand and supply as stated by China as well as the industrialized nations’ fervor to compete for national productivity unequivocally confirms protectionism.

Since the globalization era, the government and business focus has shifted from their domain to international markets as experienced in the United States that led to the manufacturing sector demise eliminating blue collar jobs and ultimately having a ripple effect on other industries especially the small business economy.

Additionally, the globalization woes were not restricted to the alarming unemployment in the United States and elsewhere. The financial sector deregulation for over three decades resulted in the worst hedge fund mismanagement nearly bankrupting the interlinked economies in the prevalent globalization.

As for the struggling economies, globalization through treaties deprived agriculture and small scale industries survival witnessed in Haiti, Mexico, other parts of Latin America and Africa.

Globalization is effective when trading between nations promotes economic growth for all unlike the purely profit oriented corporatization of developing nations for cheap labor and natural resources that mostly benefits the big corporations wielding power on the political systems.

Hence, protecting the agriculture, SME (small and medium enterprises), independent entrepreneurships is crucial for realistic economic gains and in achieving the UN adopted Millennium Development Goals.

In this respect, the G-20 Financial Inclusion Action Plan, the Global Partnership for Financial Inclusion and a flexible SME Finance Framework providing increased access to financial services and expanding opportunities for poor households and SME is praiseworthy.

Simultaneously, the IMF and World Bank elaborate coordination in assisting the national and regional economies is an important step to mitigate disparities and alleviate vast majority suffering.

However, the G-20 assurance translated into action could significantly improve the economic standards of the rapidly deteriorating middle and low income groups in the global society.

The G-20 strategies for the finance industry with a new financial regulatory framework comprising instruments and practical tools to avert the repeat erroneous undertakings,

Notwithstanding the oversight and supervision amid several preventive adaptations with financial assistance is a formidable structural reform.

Besides the macro prudential plan on fiscal, monetary, economic and trade policy to expedite economic and job resurgence would be comprehensive in addressing the universal challenges emanating from the complex global transactions.

The debate on deficit control and economic stimulus programs reflected the stark contrast positions across the Atlantic with Europe’s preference to slash national debt through austerity and U.S. reliance on deficit spending.

Although both methods are relevant in debt reduction and economic growth acceleration, extreme measures are counterproductive with an inevitable setback in the desirable objectives.

Adopting moderate course to obtain steady growth and deficit decline would guarantee the anticipated outcome.

Poignantly, France pension legislation passed despite the overwhelming public disapproval based on the bill’s detrimental effects is representative of mandatory implementations without due diligence not to mention the utter disregard for the republic financial security and personal well-being.

France government action to safeguard the minority interest at the majority plight is a misplaced priority exacerbating rather than resolving the economic situation.

Unfortunately, now the U.S. Congressional Republican members’ pledge to replicate the French authorities’ act by attacking Social Security and prolonging retirement age signifies a pattern designed to reverse progress.

American citizens across the political spectrum have a moral obligation to defend the retirement savings through Social Security. The elected officials attempt to jeopardize the only reliable source of income would drive the economy to the point of no return.

Regarding climate change – The G-20 affirmation to safeguard the marine environment is notable but the unwillingness to renounce fossil fuel use poses an impediment in combating global warming.

The unanimous clean energy application throughout the world is the only alternative to life sustenance on the planet.

By and large, G-20 scope to limit risks in the financial sector, stabilize the global financial markets, build a job generating economy, narrow the development gap, eradicate corruption, facilitate modern infrastructure are among the impressive immediate aspirations.

G-20 future meetings could broaden the aspects by specifying the programs in fighting hunger and disease through food distribution and affordable health care at the national and global front.

The political and business leaders’ consortium to recognize failures and devise constructive policies is commendable at the G-20 Summit.

Cooperation and sincere involvement for greater good would enable the G-20 nations in delivering the promise to the world.

Good Luck and Best Wishes to the honorable world leaders in reaching the milestones on global peace and prosperity.

Congratulations! To South Korean leadership on the successful G-20 summit hosting.

Thank you.

Padmini Arhant

Written by Padmini Arhant · Filed Under Economy | Leave a Comment 

New Global Era – Peace, Democracy, Social and Economic Progress

October 10, 2010

By Padmini Arhant

The overwhelming majority having experienced a catastrophic twentieth century with death, destruction, genocide and carnage while the powerful minority reaping all the benefits,

There was tremendous hope for a better world at the dawn of the new millennium.

The general expectation was a paradigm shift in the political systems paving way for economic and social progress.

Among the six billion population – the industrialized nation like the United States has around 45 million children living in hunger and poverty. It is disproportionately higher at the global level.

Despite the staggeringly lower literacy rate in the developing nations,

The children are not attending school and gaining knowledge by exploring the wonders of science and technology, learning music and arts and importantly playing sports, essentially living a normal life.

Instead, they are either exploited in the sweat shops or trained to use firearms for recruitment in civil wars and by terror networks.

The prolific arms race by the powerful nations have facilitated the African civil wars, Latin American coups, political unrest in Central Asia, widespread terrorism in Pakistan and Somalia, Sudan and Yemen secession movement…

Corporations’ heavy influence in conjunction with the military aid and foreign intelligence contributing to political upheavals in Latin America, Middle East, Africa and lately Afghanistan are well known.

As stated earlier, the status quo is attributed to politics.

Whether it is Africa, Latin America, Middle East, or Central Asia and Pakistan in the Indian sub-continent – the political oppression and turmoil from continuous warfare are predominantly responsible for the lack of development leading to public frustration.

In contemporary politics, election is viewed as a formality due to external infiltration from corporations, religious groups and powerful organizations not excluding the judiciary viz. the U.S. elections in 2000.

Alternatively, when a particular individual of a political party is in power for several decades and succeeded by the progeny as seen in some parts of the world, it is a dynasty not democracy.

Any opposition in such elections is showmanship for the domestic and international audience.

The heinous crimes under these political representations ranging from massive corruption to political assassinations are masqueraded through false propaganda in their state owned media and entertainment outlets.

Usually, the political set up thrives on cronyism and fake euphoria in the successful mass deception.

The dissenters are portrayed in bad light as villains and their image distorted for egotistical and economic gains defining hypocrisy at a new level.

In the same context, there are those who rise to stardom by remaining oblivious to the ventures financed by undesirable elements known to have ruined many lives even before it had a chance, yet these entities have maintained cordial relation with their investors for individual motives.

Today, they are on the podium casting stones at the humanitarians utterly dedicated to speaking the truth and shed light on the ill choices being made so that the world could be a better place for all and not just the privileged ones.

The irony being, these individuals believe they hold the right to attack others which is subdued as a remark and the victims’ response to their narcissism mischaracterized befitting the self-persona.

Therefore the ideal place for them to begin is the self and,

Often soul searching would help them clear misconceptions about those striving hard for greater good and perhaps invoke genuine compassion within.

It’s worth remembering that mutual respect and understanding fortifies human character.

Since the New World Order is vigorously promoted by the members i.e. the prominent world leaders and affiliates,

It’s imperative to review the secret society role beginning with the former President Ronald Reagan’s administration to date.

Moreover, it’s necessary to highlight the former President Ronald Reagan and the successors’ extensive involvement until now in strengthening the secret society concept increasingly becoming more secretive.

History is testimony to the political events all over the world – Panama, Chile, Nicaragua, Argentina Columbia, El Salvador, Costa Rica…and recently (2009) Honduras in Latin America – the military coups are guaranteed to prevail against the republic protest and sacrifice.

Caribbean nations like Cuba, Haiti and West Indies population are struggling from severe economic conditions due to a variety of detrimental factors like economic sanctions, political interference and abandonment by the powerful nations.

Middle East – Iran, Egypt, Syria, Lebanon, Saudi Arabia, Jordan and now Iraq to list a few in the region subjected to theocracy, monarchy or puppet governments… anything but democracy.

Israel the only democratic nation is also tied to a coalition backed by religious orthodox faction forging the controversial Jewish settlements and derailing the peace process.

Elsewhere, Afghanistan and Pakistan pose different challenges.

The Afghanistan political government is ceremoniously appointed by the elite society members against the population will.

Whereas in Pakistan, it is déjà vu with history repeating itself from time and time again.

The former Prime Minister Benazir Bhutto exiled on embezzlement charges by the military General Pervez Musharraf, launched a political return from her exiled home – Dubai, UAE at the powerful society members’ behest.

Prime Minister Benazir Bhutto was subsequently assassinated during the political campaign in December 2007 extenuating the political circumstances in Pakistan.

Now the deposed military leader and ex-President General Pervez Musharraf echoed similar sentiments from his current exiled home – the democratic United Kingdom.

The delineation in the two former heads of state renewed political ambitions being,

If the deceased Prime Minister Benazir Bhutto in her political will bequeathed the position to her surviving heir, a minor at that time – accordingly the post is safeguarded by the political descendant’s guardian and parent – Pakistan President Asif Ali Zardari,

The army General Pervez Musharraf on his part threatened the present Gilani administration with a possible military coup in an internationally televised press conference again not from an Afghanistan cave but U.K. capital, London.

General Pervez Musharraf seized power in a bloodless coup d’état and ruled Pakistan from 1999 to 2008 with high turnover of Prime Ministers, five at less intervals serving his administration.

The former President faced impeachment proceedings for iron-fist rule by disregarding the constitution in the Supreme Court Justice firing and other national issues, especially the indefinite postponement of the general election.

Another distinctive record in the General’s resumé is the armed Kargil conflict that brought Pakistan and India on the brink of nuclear confrontation.

General Pervez Musharraf reportedly claimed that the United States pressure on the ousted Prime Minister Nawaz Sharif in 1999 led to the nuclear crisis. There were immense casualties on both sides.

The question arising from the global events overview is;

What did the New World Order powerful entities do to change or improve the political and economic plight across the globe during their term as the free world leaders?

Most decisions thus far has exacerbated the suffering and driven the twenty first century to heightened global security threats stemming from sheer violation of human rights, deteriorating economic standards and,

Social regression with rampant racial and gender discrimination, assault against gay community indicative of the relative cultural decline,

Last but not the least,

The worst scenario reverting to the medieval era with capital punishment consisting executions, stoning to death, live burials, public flogging…

All practiced in a business as usual manner.

Meanwhile, the people in the industrialized and newly developed nations are forced to deal with financial and economic crisis generated by excess greed, gross mismanagement and misplaced priorities centralized on warfare to dominate the world.

Besides, wars create a subliminal obedience from the people and their representatives towards the authorities imposing restrictions on dissidence when expressing legitimate concerns against the misguided purpose.

The routine resonance from the political sphere through communication media demanding complicity in all matter pertaining to humanity regardless, as a mark of respect to wartime President is not democratic in any standpoint considering,

War in the absence of definitive mission has become the preferred means to exercise power.

Peace prospects are ignored specifically –

In September 2010, the North Korean government explicit request through the former President Jimmy Carter for peace talks with the United States that included among pertinent issues the willful nuclear disarmament has been discarded without any due course of action.

Reference article “Special Acknowledgment – President Jimmy Carter North Korea visit,” published 09/20/2010 under International Politics category on this website.

The global reality in the political, economic, social and environmental realm confirms the superficial gains not realized by the average citizen thereby widening the gap between the haves and have-nots that is unfortunately overlooked to a large extent.

Any international summits like COP 15 – Copenhagen Climate Conference 2009, U.N. Disarmament Treaty September 24, 2010 – the quintessential targets to sustain life on planet are led to a failure in spite of the serious ramifications.

Likewise, the G-20 forum attracts worldwide dissent because,

First, they are exclusive and not inclusive in representation.

Next, the initiatives are not comprehensive and adopted measures seemingly favor the sectors responsible for the economic peril fomenting public anger and disappointment.

The military agenda and economic interests are protected conforming to the society’s framework.

Otherwise, the Afghan and Iraq war would have been long over with a viable political solution in both territories.

Upon observation the political quagmire in Afghanistan is replicated in Iraq with the approval of the undemocratic and unpopular governments – i.e. President Hamid Karzai and Prime Minister Nouri-Al-Maliki respectively.

Unwillingness in pursuing North Korea peace offer is intriguing; the inaction clarifies the peculiar aspect to the nuclear disarmament pledge.

From the economic stance, the incumbent administration had a Democrat majority in the House and the Senate until January 2010.

The health care reform could have been meaningful with a universal health care – Single Payer System.

That option was completely rejected even though the significant population as health care and insurance industry victims pleaded for Single Payer System.

As it turns out per the latest reports –

“About one million workers lose out on better coverage promised by health reform next year.

McDonald, Jack in the Box and other companies won a one year exemption from a new rule requiring them to raise the maximum amount of coverage they offer employees.

The Department of Health and Human Services spokeswoman Jessica Santillo said companies would again be able to apply for waivers next year.”

The companies have vowed to utilize the HHS generosity and “plan to seek additional waiver each year until 2014” – by when the mandatory law becomes effective.

Finance Reform Bill – there was a clear choice between the Democrat vote by Senator Russ Feingold requesting a robust reform to prevent the repeat errors and on the extreme the Republican Senator Scott Brown bargained for Wall Street and the Democrat administration accepts the latter with a huge concession even though the $19 billion could have been used for either addressing the drastic spending cuts or the rising national debt.

On the environmental front, the Democrat Senator Mary Landrieu from Louisiana is reported to have threatened to block the administration’s judicial appointees if the moratorium on offshore drilling is not lifted by the energy industry deadline.

One would think that these legislators can differentiate between right and wrong.

Furthermore they would remember the BP oil spills and the devastating impact on the environment and the economy.

But obviously their political career takes precedence over the present and future life on the planet.

With respect to political appointments, the current administration is more than adequately served by the secret society members denying opportunities to the mainstream talent.

Extending over to the international arena, the European Council President is a Bilderberg nominee.

If the New World Order is a world controlled by the elite group with the concentrated power that determines the existence or non-existence of life on the planet by holding secret meetings and defying logic,reasoning, democratic values as well as basic principles,

It is regrettable for it bears semblance to the pre-world war II characteristics deserving global condemnation and an end to the unethical decadent policies generating almost a Great Depression, relentless warfare, political and social unrest.

Notwithstanding a grave danger to the planet.

Habitat belongs to all and humanity thrives in the unanimous commitment to save and preserve life.

Peace and harmony is the best strategy to achieve the humanitarian goal benefiting all as opposed to a selective few in the society.

None have a permanent life contract on earth. Both ordinary and the extraordinary have to leave without exception.

We brought nothing into this world. Hence take nothing back. Whatever acquired in this lifetime is a gift to be shared and not hoarded.

Freedom is the basic human right. All are born to be free and that is the natural law espoused in the – New Global Era.

Peace on Earth and Save the Planet.

Thank you.

Padmini Arhant

Written by Padmini Arhant · Filed Under International Politics | Leave a Comment 

G-8 and G-20, 2010 Summit – Toronto, Canada

June 27, 2010

By Padmini Arhant

A warm welcome to the world leaders attending the back to back G-8 and G-20, 2010 summit in Toronto, Canada.

The G-8 summit held on Friday, June 25, 2010 appeared to focus on the common economic issues such as financial regulations, deficit reduction and economic aid to disadvantaged countries on the financial side.

International peace and security – the leaders’ discussions are expansive from Iran’s controversial nuclear program, disarmament of North Korea, war in Afghanistan, Pakistan including the tensions in the Middle East.

Also in the agenda is the African leaders outreach on economic progress.

Social issues are related to protecting women’s health viz. maternal well being and infant growth in the regions lacking in antenatal care.

It’s important to begin with the financial sector and the economy for this topic.

Congratulations! To President Barack Obama, Speaker Nancy Pelosi, Senate Majority leader Harry Reid and the Congress members for the bipartisan votes in the long overdue financial reform.

It’s a major milestone and a fresh beginning to avert future financial crisis responsible for the global economic meltdown with spiraling effects on the housing, credit and job market.

Other industrialized nations like Germany passed their financial regulation with a mandatory deficit reduction. The constitutional amendment by Germany to contain the deficit to 0.35 percent of GDP by 2016 provided the higher deficit not attributed to GDP decline is a trendsetter in curbing the economic recession.

Similarly, the United Kingdom, Japan and the hard hit economies with huge deficits are in the process of clamping down on the national debt through fiscal austerity and tax hikes.

The deficit reduction is the popular stance among the member nations in this summit.

Although, containing national debt is an immediate priority, the measures to achieve the desirable goal needs to be balanced, so that the vulnerable population like children, senior citizens and the people with disabilities or life threatening conditions are not deprived of basic services from the targeted spending cuts.

Maintenance of social services and programs availed by the citizens across the spectrum would prevent the inevitable outcome – For the elimination would lead to unsustainable economic costs impacting health, education, housing, consumer spending, states’ emergency units – fire and police departments.

Notwithstanding the potential increase in domestic crime rate that had been relatively low nationwide.

Likewise, raising taxes on health and environmentally harmful sources is a place to start due to the dual cause. It would protect the people and the habitat while generating revenue to pay off the accumulated debt.

In the United States, the legislation aimed at economic revival and federal aid to the states for essential programs is challenged by the opposition minority based on their national debt concern.

It’s a legitimate reason but the disapproval is directed at the nerve center of the society.

By denying unemployment benefits to the laid off workers and,

Blocking federal aid to the states is an erroneous decision. States’ employment would be affected leading to massive retrenchment resulting in tax revenue losses.

Already, some states have furlough hurting many American families. In addition, the states offer lifeline support to many contributing back to the system via taxes as wage earners and consumers.

Despite the reality, the ‘Nay’ vote defies logic.

There are ways to pay for these bills by reallocating the unutilized funds in defense spending and pet projects. Moreover, there cannot be anything significant than helping the workers survive and enable them to be gainfully employed yielding tax payments.

Ignoring citizens’ plight has much higher economic and political ramifications.

Therefore, the stimulus bills with guaranteed tax returns are the means to expedite economic recovery.

Since globalization is embraced as the twenty first century economic policy, the anomalies in the system beckon the world leaders’ attention.

There is an urgency to implement international labor and environmental laws binding on transnational corporations to safeguard the environment and the workers’ interest against exploitation, negligence including fair and equal compensation regardless of territories.

Even though, the child labor is banned in some developing nations, the practice is widespread in the desperate parts of the world often engaged by the established multinational companies from the industrialized nations.

Stringent strategies against financial investment firms’ speculative activities that led the Greece and the neighboring economies to the brink of collapse are quintessential in the sweeping financial overhaul.

Some have addressed the problem by enforcing strict rules on the ‘derivatives’ and hedge fund mismanagement in the financial reform. However, the global standard would strengthen the application.

Currency adjustments by the emerging economic power creating trade imbalance and subsequently influencing the rising deficit financed by the creditor is yet another matter to resolve in the present meeting.

Tax havens and withholding income from offshore investments by corporations are impediments to the struggling economies irrespective of stature. Again, cooperation from the G-20 partners facilitating such activities is to be sought on this occasion.

Clean energy to free mankind from fossil fuel and nuclear technology is crucial to replace the discriminatory civilian nuclear program paving way for nuclear proliferation.

Global terrorism and security – Coordinating with international intelligence agencies as opposed to militarization or deploying military personnel on espionage to collect information is a serious violation of the respective nations’ sovereignty. The clandestine military operation is bound to exacerbate the insurgency in the volatile regions forcing the local population to favor the militants reluctantly against the infiltrators.

The article titled “U.S. Military Espionage – Directive for Global Operation,” May 30, 2010 highlighting the inherent dangers of the provocative activities, was presented under the “National and Global Security,” category on this website for further understanding.

International Peace Agreements – Unanimous condemnation of Iran and North Korea nuclear capabilities and belligerent displays against neighbors is a positive step.

Similarly it should be extended to allies violating human rights through illegal invasion and occupation of land, prominently Israel and China viewed by the international community as the U.S and Europe’s ‘turn a blind eye,’ foreign policy.

Actions are effective and meaningful when they are universal and not selective in the enforcement.

Other nations like Thailand cracking down on civilian population with military might in public square deserve international isolation for successfully thwarting the democratic uprising against abuse of power.

Democracy has become a token political system undermined by excessive military involvement and constitutional monarchy as seen in Thailand.

Burma/Myanmar belongs to the league in brutality against its citizens by the military junta reportedly occupied with the nuclear activity.

Worldwide nuclear disarmament is the course to pursue for global peace.

In other humanitarian issues – whether it is women’s rights, social justice or dealing with hunger, poverty and disease, they are all related to the political power governing the nations.

United States, EU, United Nations, Arab countries and emerging economic powers have a decisive role in promoting democracy, peace, human rights, economic and social progress by remaining impartial and committed towards the noble mission.

Best Wishes to G-8 and G-20 nations attending the 2010 summit.

Thank you.

Padmini Arhant

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Euro Crisis and Impact on Global Financial Markets

May 27, 2010

By Padmini Arhant

It originated in Iceland with the pervasive subprime mortgage factor and similarly affected other economies like Ireland, Greece, Portugal and Spain, referenced as PIGS.

Although, every nation in this category share the contaminated ‘derivative’ traded internationally, the lack of deficit control with the national budget exceeding the GDP growth also contributed to the meltdown and subsequently reflected in the poor credit rating.

More prominently, Greece identified with:

“Goldman Sachs between the years 1998-2009 has been reported to systematically helped the Greek government to mask its national true debt facts.

In September 2009 though, Goldman Sachs among others, created a special Credit Default Swap (CDS) index for the cover of high-risk national debt of Greece. This led the interest-rates of Greek national bonds to a very high level, leading the Greek economy very close to bankruptcy in March 2010.”

The culmination of internal and external mismanagement primarily led the Mediterranean economy to the brink of collapse seeking bailout from the European Central Bank (ECB), EU and IMF.

European Union was challenged with a predicament in the Greece bailout to either ignore the problem or address it to avert the contagion in Europe.

Since Greece is an EU member using the reserve currency euro in the 16 of the 27 states representing the eurozone, the former alternative would have had serious ramifications.

Besides, the euro being the second most traded currency in the world after the U.S. dollar; it has multifaceted impact on the financial markets dealing with high volume trading especially in the futures exchange.

The industrialized and emerging economies are in a bind with the euro value reduction, due to the competitiveness expansion in export trade. For example, the export oriented Germany is at a competitive edge with the United States, Japan and China irrespective of Germany specializing in high end industrial and heavy machinery equipments.

Hence, the euro crisis upside is the European nations gaining export affordability.

Accordingly, the emerging economy and the major U.S. creditor China is concerned about the potential split in global market share and availing the opportunity to reject the U.S. request for currency (renminbi) value adjustment, which has been set below the market determination despite China’s extraordinary trade surplus.

China’s currency, renminbi (RMB) or yuan (CNY) has been withheld from floating as the international currency in the foreign exchange market to protect the status quo.

At the same time, the positive aspect of the dollar appreciation is omitted in the evaluation and that being the foreign investments in U.S. dollars particularly the Treasury bills held by China is strengthened in value and guarantee long term security in futures contract.

Financial stability measures adopted by EU, IMF and ECB with approximately one trillion dollars of which a conditional rescue loan worth $110 billion to Greece is approved to reverse the negatives in the financial markets reacting to the euro downslide from the unsustainable government debts and deficit level.

Had the eurozone requirement on its union members to keep deficits below 3 percent of GDP maintained, Greece and other struggling economies need not have been subject to harsh austerity strategies that has resulted in protest among the mainstream population in Greece and Ireland.

Regardless, the current global financial crisis calls for wasteful expenditure elimination and the national budget review to direct investments in high value returns.

Appropriate actions involving tax hikes and spending cuts are necessary to balance the budget.

However, spending cuts targeting the fundamental programs inevitably generating revenues through productive workforce and consumers is counteractive.

Restoring essential programs and services for the job creation and preservation, youth education, citizens’ health care, social security, safe and clean environment nurture healthy and middle class society to ease the burden on the top 1% or 10% wealthy taxpayers in different economies.

Most importantly, the defense budget consuming a significant proportion of taxpayer revenue in the prolonged wars could be divested to peaceful and profitable opportunities benefiting the citizens at the domestic and international front.

The ideal solution for the European Commission and the monetary union to avoid rising deficits in Europe without compromising the member states’ sovereignty in their national fiscal policy decisions would be to establish an independent, non-partisan committee by the states to examine the individual spending and tax plan, rather than the centralized monitoring or the neighboring authority verifying it.

Further, the constitutional amendment by Germany to contain the deficit to 0.35 percent of GDP by 2016 provided the higher deficit not attributed to GDP decline is a trendsetter in curbing the economic crisis.

In concurrence with the economic experts’ advice – The ECB expediting the credit approval on government bonds used as collateral upon qualifying the self-regulated constitutional limit on deficits is prudent in deterring broad speculative lending activities.

Alongside, the EU sweeping financial reform with tough standards against the hedge fund managers including the two proposals by German Parliament:

Global financial transaction tax and Financial activity tax focused on CEO’s Personal Income & Bonuses are effective steps with the exception of the global financial transaction tax because it is eventually transferred to the end-consumer and may not be a viable option for all participants.

Nevertheless, international agreement on financial regulation by G-20 and other nations is crucial in order to emerge from the existing crisis and prevent the future economic recession.

The systemic risk in the multi trillion dollars ‘derivatives,’ that caused the financial debacle in Europe, Middle East (Dubai), North America, Asia and elsewhere demands stringent policies and independent investigations on fraudulent ventures.

The financial overhaul passed by the U.S. Senate last week has been under scrutiny by analysts with mixed response and elaborated in the article titled:

“New Financial rules might not prevent next crisis – Associated Press, Sun May 23rd. 2010 at 3.55 PM EDT. Reported by Jacobs from New York and contributed by AP writer Jim Drinkard.”

Unequivocally, closing the loopholes as detailed in the cited article and other reports is paramount to establish a financial system free of K street influence.

The apparent revolving-door relationship between Wall Street and Capitol Hill in which employees and consultants have moved in and out of high level US Government positions, with the prevalent conflict of interest is a hindrance to any legislation.

Only the electorates with the voting power in a democracy can remove the persisting obstacles by rejecting the special interest representatives in politics against meaningful legislation.

People as the consumers, taxpayers and voters are the ultimate force in achieving the progress for common good.

Thank you.

Padmini Arhant

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Obama Presidency – State of the Union Address

January 27, 2010

By Padmini Arhant

On the eve of the first State of the Union Address by the 44th President of the United States, Barack Obama, the media frenzy with opinions and speculations preceding the important event is not uncommon.

President Barack Obama is scheduled to address the nation and the rest of the world about the administration’s efforts and achievements in the past twelve months and the commitments moving forward.

The past week political and legal outcome has created anxiety and genuine concern among the people and some lawmakers in Congress.

Although, the political consultant based in Washington D.C. echoing the ‘K’ street sentiment by presenting oxymoron analogies would like this development downplayed, the truth of the matter is the high court decision embolden the prevalent corporate dominance and enhance the opportunity for the legislators to either remain or return to power regardless of their detrimental performance in public service.

Assailing the facts as ‘hyperventilation,’ a spin that undermines democracy when the elections are swift boated with the Corporations, Unions and religious institutions’ influence, is rather naïve if not ignorant.

Amid dismal forecasting of the Obama Presidency, the rationality beckons a fair analysis of the Obama administration’s accomplishments and errors since their election to the White House.

President Barack Obama was sworn into the office on January 20, 2009.

State of the Economy:

The former President George W. Bush and Vice President Dick Cheney administration left the White House on January 19, 2009:

United States FEDERAL BUDGET – WIKIPEDIA, THE FREE ENCYCLOPEDIA

en.wikipedia.org/wiki/United_States_federal_budget

Deficit and Debt Increases 2001-2009 … to a total debt of $10.6 trillion as of January 2009. …

For the first time in FY 2008, the U.S. added $1 trillion to the national debt. …

Then bipartisan Congress approved taxpayer spending on two simultaneous wars in Iraq and Afghanistan by allocating $1.05 trillion up until September 30, 2010.

Source: http://costofwar.com/

Total cost of wars since 2001 until date – $954 billion and rising

Spending on Iraq war – $704 billion and Afghanistan war – $250 billion

In addition, the Bush-Cheney administration Wall Street bailout that included insurance giant AIG, Mortgage lender Fannie Mae and Freddie Mac, major banks and the auto industry in 2008.

Reference: www.padminiarhant.com under Business Category, Date – July 23, 2009

Title –Bush Stimulus Package

Total – $1.557 trillion i.e. $1 trillion and 557 billion dollars.

Source: The United States Labor Department

Unemployment Rate in January 2009 – 7.6 percent with 11.6 million Americans out of work.
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Reality Check: By Padmini Arhant

With that being the actual state of affairs, the Obama administration initiative towards jumpstarting the economy was passing a stimulus package to benefit the average Americans and the small businesses worst hit in the economic recession that started in 2002 but acknowledged by the republican members and the Bush administration in December 2007.

Economic Stimulus: $787 billion Passed in February 2009 without any vote from the Senate and a single vote from the House of representative among the Republican minority.

Having previously voted for the Wall Street bailout to AIG and the TARP fund under Bush administration in 2008, the republican members refrained from assisting the American workers and families in the Obama stimulus package in 2009.

Obama Administration Stimulus Funding:

$787 billion economic stimulus package for job creation and tax cuts to help average American workers, families and small businesses.

$275 billion mortgage stimulus program aimed at saving troubled homeowners from foreclosure.

$30 billion bail out to AIG (in addition to the $150 billion Bush administration bailout to the insurance giant in 2008) to avert the conglomerate collapse.

$1 trillion “toxic asset” buyout program designed to get under-water assets off the U.S. banks balance sheets and facilitate the credit flow in the market to help small businesses, first home buyers, home owners refinancing as wells as the medium corporations in retaining jobs.

At the end of March 2009, the Obama Administration gave automakers General Motors and Chrysler another $22 billion in low-interest loans to protect the manufacturing jobs.

In June, the Obama Administration gave General Motors another $30 billion to help them steer through bankruptcy.

Total Obama Stimulus Package – $2.1 trillion dollars – $2 trillion and $144 billion dollars, of that $1 trillion relates to “toxic asset’ program.

It’s noteworthy that the subprime and hedge fund activities accompanied by various Wall Street speculative gambling happened on Bush-Cheney administration and the republican majority watch i.e. 2000-2006 and the recession had already been well under way, even though they refused to take responsibility.

2000 – 2006 the republican members controlled all three branches of the government.

The legislative i.e. both the House and the Senate, The executive, a.k.a. The White House and the judiciary branch.

During that time, the Bush-Cheney Presidency was preoccupied with the wild adventure in Iraq that commenced in 2003 under the pretext of WMD, the weapons of mass destruction that turned out to be Work of Mass Deception.

Again, the Bush-Cheney administration and the republican members were focused on the Halliburton, the oilfield service corporation and its subsidiary, the Kellogg Corporation’s prosperity by neglecting the U.S economy and the brewing global financial crisis.

When the same republican Congress and the Bush administration decided to accept the financial debacle and the economic crisis in December 2007, it’s a year after the democrats gained majority in the House of Congress with the selective news network and the republican members blaming the democrats for the economic crisis.

Shifting attention to the year 2009 -2010, the Obama administration and the democratic Congress passed the necessary legislations to stimulate the economy and devoted much of their time towards the historic health care reform.

President Obama and Democrat Congress Accomplishments:

Economy –

– Salvaged the global financial markets from the brink of collapse,

– Extended unemployment benefits to help families survive the massive layoffs,

– federal tax credits to first home buyers that decelerated the crumbling housing market,

– Stimulus funding generated jobs for the veterans and the green technology projects.

Education and Arts:

Provided College Students relief by shifting the unaffordable student loan payments from the private industry to non-profit organizations.

$787 billion Stimulus Package included –

Federal funding to boost K-12 education supplementing the state budget crisis across the nation.

Federal funding to preserve arts and cultural science.

Health Care Legislation – A phenomenal feat by the democrats in the Congress and the White House, despite the existing resistance from the health care industry to block the legislation.

Poignantly, the milestones in the health care legislation reached without any republican votes in the Senate and again may be with an exception of a single vote from the House of representative.

Average Americans across the nation shared their harrowing experiences from the health care industry abuses and pleaded with their representatives for a universal Medicare and save American lives – approximately 45,000 dying every year due to denial and the lack of health insurance.

Besides, the members of both political parties were well informed on the burgeoning health care costs contributing to the national deficit, an issue that has been squarely attributed to the democrats by the republican members while forgetting their own legacy to the American taxpayers, the accumulated $10.6 trillion, the wars, bailouts…cited above.

Energy and Environment:

The Copenhagen summit in December 2009 is a huge disappointment.

Nevertheless, there is an opportunity in the remaining term to accomplish the desirable goals.

President Barack Obama’s domestic environmental actions surpass the expectations in the first year.

Source: Environmental Policy – San Jose Mercury News, January 19, 2010 – By Paul Rogers

“The economy, war and health care are dominating discussions about what he has or hasn’t accomplished.

Yet with little notice from the public, Obama has been steadily rewriting a major area of American policy – the environment – from global warming to gas mileage rules, logging to endangered species.

Many of his initiatives have particular impact on California.

Obama on the Environment:

Increased gas mileage standards for cars and light trucks 40 percent, to 35 mpg by 2016.

Signed a bill establishing 2.1 million new acres of federally protected wilderness, the largest such bill since President Bill Clinton signed the Desert Protection Act in 1994.

The bill bans logging, mining and road building on federal forests and deserts in nine states, including portions of Joshua tree and Sequoia national parks and ancient bristlecone pine forests in the eastern Sierra.

Announced tougher new national smog standards from the EPA this month i.e. January 2010.
Issued EPA rules requiring large U.S. ships to cut soot emissions by 85 percent.

Blocked Bush administration rules on offshore drilling and endangered species protections.

Begun a process in December in which the Environmental Protection Agency will, for the first time, restrict the amount of greenhouse gases industry can release.

Directed more than $50 billion in funding and tax credits for renewable energy projects.

“This is by far the best first year on the environment of any president in history, including Teddy Roosevelt,” said Carl Pope, national executive director of the Sierra Club, in San Francisco.

“Most presidents have done their best environmental work late in their term. This is very very strong opening.”

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Democratic Congress and White House Administration errors requiring correction:

Domestic Policy: By Padmini Arhant

Passing legislations in the partisan atmosphere is a daunting task in itself.

Both the White House and the democratic Congress have not been meticulous in the policy implementations such as,

Banks bailout approval without any stipulations.

Oversight and accountability on the stimulus funding slighted by the financial industry.

Failure to reserve actions against banks’ non-compliance in easing the liquidity crisis and the housing market revival.

Resisting pork barrel or earmarks in the stimulus funding to negate the opposition and the selective media hypocrisy.

Recruiting the faulty economic team otherwise known as the Wall Street oligarchy –

The Treasury Secretary Timothy Geithner, the economic adviser Larry Summers and now backing the Federal Reserve Chairman Ben Bernanke for a second term, much against the main street protest is a tremendous political liability.

Further, the team members were the head of the respective institutions that led the economy to a near free fall and arguably viewed by the general public as the lobbyists for the financial sector.

Job creation and protection – It’s been slow irrespective of the stimulus programs and is the primary cause for losing the recent elections.

It could be recovered by offering tax cuts to deserving corporations preserving jobs as opposed to exporting jobs overseas.

Incentivizing manufacturing sector by reviewing trade and commerce law.

Embracing protectionism over globalization is necessary to promote domestic jobs, thereby confirming the White House and Congress priority for the American people over the overseas financier, China.

Regulations and reform in the finance, health care and energy sector is paramount for the present survival and future growth.
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Foreign Policy: By Padmini Arhant

Haiti disaster fund $100 million by the administration is commendable but news reports regarding the U.S military presence overwhelming the rescue and relief operation was alarming.

Remarkable improvement in the U.S. and Russian relationship particularly in the dialogue related to conventional stockpiles and nuclear arsenal reduction treaty.

The 64th U.N General Assembly session in September 2009 – Smart approach to discuss nuclear non-proliferation even though nuclear disarmament is the ideal path towards global peace and security.

G-20 meeting in April and September 2009 was a success and progress dependent on pending U.S financial reform.

April 2009 – $1 Trillion Stimulus Package – G-20 World Leaders Stimulus

The leaders of the 20 most powerful countries in the world (representing 85% of global economic production) convened in London and agreed to $1 trillion in economic stimulus funds, as well as tighter global financial regulations.

Environmental – COP15, Copenhagen Summit – A failure.

There is hope to realize the environmental scope in the 2010 and future global summits. The environmental pursuit must begin with the U.S climate bill legislation to gain credibility in the international forum.

Domestic issues like economy, health care, debates surrounding the troops increase in Afghanistan and national security have consumed most part of the 2009 and overshadowed the prominent world crises.

Pakistan – Financial aid to advance socio-economic development is a positive step as long as the funds are invested to alleviate the population plight and educate the children in the rural and urban areas. Drone attacks have caused many civilian casualties justifiably triggering anger and frustration among the local victims.

Military aid and the deployment of the private mercenary viz. The Blackwater a.k.a.Xe Services LLC and alike to eliminate the terror networks is a contentious issue to be discussed in length later.

India and Pakistan – The United States’ position to disassociate from the talks reveals political expediency.

Iranian crackdown of the democracy movement and defiance in the nuclear program – A cautious reaction and response by the United States arousing passion among the allies and the adversaries.

Worsening Israeli and Palestinian conflict – Jewish settlements, blockade and occupation continue to derail peace prospects and fomented by the United States adherence to the prior administration’s foreign policy.

The controversial three-dimensional wars in Afghanistan, Iraq and Yemen via military and intelligence intervention will be elaborated in the later segments.

Containing the saber rattling – North Korea launching missiles, a tradition maintained since the former Bush-Cheney administration. Multilateral talks are vital to curb North Korean President Kim Jong Il’s erratic behavior.

Postponing the meeting with his Holiness Dalai Lama and accepting illegal invasion and occupation of Tibet as part of China in an effort to appease the major creditor – A diplomatic trend serving none and blatantly condones oppression, a diametric stance for the world’s first democracy.

Honduran Military Coup – A setback reflecting the flagrant U.S foreign policy towards Latin America complicated by the republican members’ rendezvous with the military coup leader Roberto Micheletti.

Darfur Genocide – President Obama’s interference was refreshing and requires intense pressure on the Sudanese President Omar al-Bashir to end the massacre entirely.

Burma – The Burmese junta extending the pro-democracy leader, Aung san suu kyi’s house arrest and exploiting the forthcoming election with false declaration to release the leader by November 2010 is bound to attract international interest.

Unrest in Sub-Saharan Africa – Guinea – The U.S. Secretary of State Hillary Clinton appropriately condemned the violence and the message should resonate in other parts of the world for the United States to be received as the reliable negotiator in peace process.

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Performance Assessment and Future Role: By Padmini Arhant

President Barack Obama and the democratic Congress have demonstrated leadership in dealing with the humongous challenges inherited from the previous administration on the economy, war, national security and neglected issues pertaining to human life i.e. health care and environment.

Regrettably, the White House and the democrat Congress have not utilized the political capital earned from the historic election and the weaning public support especially among the independent voters stems from the promised ‘Change,’ not being delivered with Wall Street reining control over Washington and the substantial bailouts not producing the anticipated economic recovery.

Other factors like transparency and accountability are perceived to be in coherence with the earlier administration’s discreet policy, avoiding the free press and media, thus providing fodder for the critics.

In foreign policy and war on terror – The administration policy is viewed as Bush-Cheney policy in the international main street specifically in the most vulnerable regions of the world.

President Barack Obama seeking bipartisanship with a cabinet offer to the Republican Senator, Judd Gregg of New Hampshire to serve as the U.S Commerce Secretary was turned down.

Similarly, the White House invitation to the republican members for their input in the economic stimulus went stone deaf with criticisms volleyed against the President and the democrats for the economic stimulus package.

The President and the democrats’ bipartisan outreach have been futile, for they are doomed either way among the republican members who can’t find any common ground to agree upon any proposal.

In light of the status quo, the Congress members are obligatory to the American electorate rather than their colleagues in the House and the Senate or the Wall Street.

Creating jobs and restoring confidence among the consumers, investors and taxpayers is the inevitable victory against any form of opposition.

Negative attacks and distortions will persist. Maintaining a strong disposition and determination to succeed are the key characteristics when facing obstacles on the path.

Moving diligently with the legislations on financial reform, health care with a public option and concentrating on the climate bill will prove the inherent courage in the Presidency and Congress members to fight for the people and the nation.

Ultimately, in a democracy the power lies with the people as voters, consumers, taxpayers and shareholders.

Among the members in the society – Effectively, it’s better for different groups supporting a common cause to pool resources and present them as one voice against any powerful force during the elections and legislations.

For instance, the various environmental organizations should consolidate ideas and act together to defeat the industrial threat to the planet.

Likewise, the average citizens should join together as a resilient force to represent democracy during elections, and rally behind the President and the party that is dedicated to the public and not the private or personal interest.

The United States has a unique opportunity to rebound in all aspects and emerge from the present crises under the leadership of President Barack Obama and the democratic Congress.

People have endured and overcome many upheavals in the ‘Land of the Free and Home of the Brave, the United States.

President Barack Obama brought hope to many in this country and around the world in 2008.

People are the only ones who can bring about the ‘Change,’ they desire by electing the officials and the President who are willing to undertake political risks and protect the people’s rights in a democracy.

“Yes We Can,” did it in 2008 and “Yes We Will,” should elect the doers, the democrats to office in 2010 to complete the work began in 2009, the economy and health care…

I wish President Barack Obama and Congress members of both parties success in the legislative matter concerning “We the People.”

Thank you.

Padmini Arhant

Written by Padmini Arhant · Filed Under Politics, United States | Leave a Comment 

Corporate Role in the Environmental Crisis

October 1, 2009

By Padmini Arhant

Tragedy strikes once again in the earthquake prone Indonesia causing a chain of events in other coastal territories viz. the Western Samoa hit with Tsunami, The Philippines embracing the worst casualties in the poorest region from the Typhoon, Japan and Hawaii remaining on alert due to the warnings issued by the U.S. Geological Survey.

When calamities of this magnitude happen, it predominantly takes toll on the poorest population unwillingly surrendering themselves to premature death or scrambling to survive the wrath of the environmental force. It’s no longer the natural disasters as once declared but instead the insatiable appetite to satisfy the ‘wants’ is forcing the entities to use the means for their material status at the habitat’s peril.

Unfortunately, rescue, evacuations and rehabilitation are costly even to the rich nations, evidenced in the Katrina victims still in the process of reorganizing their lives. Thankfully, the generous investment of time, money and resources by the private philanthropists like the actor Brad Pitt, organizations such as Habitat for Humanity and volunteers from all walks of life is easing the burden on the natives in rebuilding their homes.

For the poor nations, recurring crisis of this nature cause tremendous economic and social challenges leaving them in poverty, hunger and disease that leads to the political turmoil common in the island nations of The Philippines and Indonesia. The people in these parts of the world deserve a decent existence prevalent elsewhere.

Global summits like G-20, Earth Day, Peace Forum, etc., are crucial to evaluate the international goals and achievements on important issues pertaining to life. However, these summits become ‘elite and exclusive’ if the tree bearing the fruits fails to provide for the entire inhabitants on earth.

The rich and the developing nations can do more on their part in alleviating global poverty and disease through the democratic process by defining the ethical standards for the corporations, the defense forces, and the mass media, the dominant forces in the evolutionary process.

Environmental abuse by the domestic and foreign corporations of the industrialized and emerging economies worsening at the expense of the people… particularly the middle, the lower and the poorest groups in the economic strata. The irony being these neglected demography constitute a significant part of the consumer chain and yet receiving little or no respect and value from the free market beneficiaries.

In the global economy, when the mighty corporations venture into the continents rich in natural resources but lacking in technical know-how and basic tools for self-sustenance, the local population involuntarily mortgage their precious agricultural lands and lives including the freedom to the foreign investment power.

The foreign investors’ role not limited to short-term profit oriented schemes;
In fact, it’s often expansive with a long-term strategy infiltrating into the political infrastructure of those nations as proven in Africa, Latin America, Asia and the Middle East leaving those regions in eternal political instability, civil wars and environmental catastrophes.

The ‘so-called’ investors successfully subvert any horrific industrial accidents and deliberate environmental pollutions by influencing the political powers in the respective domains. Thus, the ‘corruption’ stigma assigned specifically to the exploited regions. Meanwhile, the responsible sources honored as the ‘noble,’ wealth distributors dedicated to liberating the poorest nations from the misery.

In the absence of any international indictments against the culprits, the systemic ethical erosion has contributed to the obliteration of the once solid socio-economic structure yielding the status quo.

Not all is lost as the people in every part the world have the power to create a cornerstone for the collective benefit rather than the individual interest. It may not happen instantaneously, nevertheless the foundation required to build the monument that would accommodate the needs of all.

Human values appreciated through genuine care and support to the victims of such disasters. Crisis is indiscriminate to color, race or religion and the human concern or the lack thereof immensely impact the recovery.

Please reach out to the victims by offering any affordable donations through international organizations like the Red Cross and others engaged in the humanitarian relief.

I share the grief and sorrow with the victims’ families in this tragedy.

Thank you.

Padmini Arhant

Written by Padmini Arhant · Filed Under Environment | Leave a Comment 

Environmental Policy

April 19, 2009

The recent developments to combat climate change in the State of California and nationwide is commendable. The Supreme Court granting authority to EPA to regulate greenhouse-gas emissions under the Clean Air Act eliminates obstacles on the path to a clean environment. It is significant since according to the reports the projected levels of greenhouse gases “endanger the public health and welfare of current and future generations.”

With the time lapse of inaction on this important matter threatening the mere existence of life on the planet, the new administration under President Obama is seeking the right course of action by having the choice to either legislate or regulate carbon dioxide and other harmful greenhouse gases resisted in the past on the notion of negative economic impact.

Further, EPA consideration to reduce emissions including rigorous tailpipe emissions standard also previously blocked in the past eight years is a step in the right direction. This particular issue like others has been subject to criticism and opposition from sectors focused on personal short term gains over long-term future of humanity. Again, the Obama administration’s gesture to proceed toward a national standard on vehicle emissions that will be as strong as California’s is right on target.

It would be appropriate to embrace California’s standard as the national requirement, rather than maintaining individual regional measure and finalize the pending EPA decision over the controversial tailpipe carbon emissions by the automobile industry. The national standard would be beneficial to the struggling auto industry in marketing their fleet in other parts of the country without the burden of meeting the regional expectations.

In a democracy, active participation in public discourse and dissent whenever justified is honorable. However, protest against progress and life sustenance is detrimental to the source contributing to such disruptions. The opposing legislators’ argument on any environmental regulation is weak for it dismissed global warming as a ‘myth’ up until now. Their defense of businesses potentially affected by stringent measures is hypothetical. It fails to recognize that the planet in peril is a hard-core fact with abundance evidence in rising temperatures and several disasters no longer natural because of the none other than greenhouse gases causing ozone depletion in the earth’s atmosphere.

According to the recent article on this topic – Industry representatives voiced a variety of concerns over the prospect of mandatory emissions controls. The National Association of Manufacturers warned that the Clean Air Act was designed to focus on local and regional pollution, and that greenhouse gases “are global in nature and require a new framework.”

The industry demand to distinguish the Clean Air Act to curtail domestic pollution from greenhouse gases produced globally is worth clarification. In the latest G-20 summit, it is not clear if the United States sought any guarantee from the participants with respect to individual and consolidated global effort in greenhouse gases reduction. Even though the G-20 gathering predominantly focused on global economic rescue plan, the equally challenging environmental issue deserves universal commitment in achieving the desired goals.

It is imperative for the inhabitants of planet earth to pay serious attention to the environmental degradation arising from industrial pollution, population explosion, poor waste management and revolutionary demographic shifts among the population of the emerging economic powers in the world.

In the United States, the bipartisan consensus is paramount if legislation required to promote healthy and safe environment for the well-being of the present and future generations of the nation. To reiterate any partisanship during legislation combined with industry objection in compliance of regulation would lead to dire consequences and irreversible state of earth’s natural resources due to ecological imbalance.

Mankind best interest lies in the protection and preservation of the habitat, the planet earth.

Save the planet and secure the future for all.

Thank you.

Padmini Arhant

Written by Padmini Arhant · Filed Under Environment | Leave a Comment