The ecological disaster in the Gulf of Mexico made US President Barack Obama appear in a televised address to the nation for the first time during his presidency. Usually, American presidents resort to this form of communication with their people in case of war or a state of emergency. A sex scandal is also possible, “thank you for watching.”
Obama compared the oil spill disaster with 9/11 terrorist attacks, which gave the USA the reason to invade Afghanistan. It is obvious now that overcoming the terrible consequences of the oil spill has become a matter of paramount importance for America, just like the efforts to overcome the economic crisis and the struggle against al-Qaeda.

As for the financial crisis, one has to give the US administration credit for stabilizing the shattered bank system. The American economy has started growing. However, there is still a number of potential problems in the field which may affect the recovery and even lead to another setback in the industry. The catastrophe in the Gulf of Mexico exerted a highly negative influence on the energy sector which in its turn touches upon other segments of the American economy.

It is a cliche to state that football is big business. Football, the most popular sport on the planet, generates billions of dollars. It is also a cliche to state that everywhere there is money, there is corruption. The more money, the more corruption. Unfortunately, cliches tend to be true, that is why they are called cliches.
It is important to keep this in mind when you watch a world cup game. Next time you switch on your TV-set to see some exciting action, especially one of those games where the stakes are high, I suggest you ask yourself a simple question. Do you really think powerful business interests would leave it up to the discretion of some fallible referee on a modest salary, to decide the fate of their investment? For that matter, do you believe referees make their decisions purely independently?

In case you have been following developments in football over the past decades, you are surely aware of the various football scandals all over Europe and Latin America, involving venal goalies, bought referees, mysterious injuries and anything else incongruous. As always, what comes out in the open is only the tip of an iceberg.

Have you figured out why Obama hasn’t saved America yet? Let me give you a hint. Never listen to what Obama says. Rather, focus on what he has done. Remember he learned politics the “Chicago way”. One of the most corrupted cities since the days of Al Capone.
Like a con artist Obama has welcomed companies on the verge of bankruptcy with open arms. Like a Chicago mafia Godfather he gave them all an offer they could not refuse. He gave them a bailout and now he owns them. He can control them. More importantly he can get money from them to remain in power. More companies equals more money. Not for me, not for you, but for Obama and his minions. Bail outs of the auto industry like General Motors, Ford and Chrysler means the government is the major owner. Now, others like Bear Stearns, AIG, Fannie Mae/Freddie Mac, Citigroup, Bank of America all are now owned by the governement thanks to Obama’s generosity and his freedom in the US treasury.

China’s Shenyang Aircraft Corporation created a copy of a Russian deck-based Su-33 fighter jet. The Chinese model of the aircraft was called J-15, Interfax reports with reference to the May issue of the Kanwa Asian Defence military publication.
The Chinese fighter jet is based on the Soviet T10K training aircraft, which China received from Ukraine. Chinese engineers found it very difficult to solve the problem of folding wings of deck-based fighter jets. Now the problem has been solved.

It is not clear yet, if the new plane has performed its first flight yet: the Chinese Air Force does not have its own test center for the sea aviation.
Vietnam buys 12 Sukhoi fighters

The Relapse of Europe Into the Global Economic Crisis

While most analysts and commentators in the Western world are working to affirm that the recovery progresses, Europe seems to live in a relapse of the global economic crisis. There are few stories that account for the implementation of austerity plans to reduce fiscal deficits and public debts in Greece, Spain, Italy, Portugal and even the UK.
Famous economic commentators are starting to echo the warnings about a serious risk of debt, which may cause another great depression with harmful effects in the USA. If the rescue plans, budgeted at 750 billion euros and approved by the European Union and International Monetary Fund fail to calm stock markets, the European economy will collapse again, according to many analysts.

The drop in stocks in recent weeks and the sharp depreciation of the euro against the dollar are signs that these predictions are not far from reality. The concerns become panicked with relative ease.

The truth is that Europe, a cornerstone of the global economy after the U.S., staggered. Greece, Spain, Portugal and Ireland, due to huge deficits have been identified as the epicenter of a cataclysm that if it breaks out, you can drag into the abyss the entire European continent and in a domino effect, the world economy.

Days pass and the billionaire package mounted to save Europe, particularly the euro area, failed to resolve the uncertainty. Rather, it multiplies. But more than the cold statistics and the red lines on the graphs that illustrate the collapse of major exchanges, which are the most alarming social and political consequences of the global economic crisis, is where Europe seems to have fallen.