Thursday, November 29, 2012

Lawmakers mull over marijuana possession legalization


Colorado did it, so did the state of Washington - will New Mexico be the next state to legalize the recreational use of marijuana.
The state legislature's Courts, Corrections and Justice Committee heard testimony at the state capitol Thursday about a bill that will be o the table when the legislature convenes in January.

U.S. CORN: Futures Extend Gains on South America, Technical Strength


-U.S. corn futures are slightly higher
-Support from tight world supplies, rising South America prices
-Technical outlook improves, attracting buyers
 
   By Ian Berry 
 
CHICAGO--U.S. corn futures are up slightly amid tight supplies, technical buying and worries about the South America crop.
Corn for December delivery at the Chicago Board of Trade was recently up 3 1/2 cents, or 0.5%, to $7.59 1/4 a bushel. March corn was up 2 1/2 cents to $7.59 1/2.
The market is extending gains from Wednesday's 2% rally, as traders note corn has held above key support levels, including the 100-day moving average. That has attracted more buying from investment funds anticipating greater gains, analysts said.
"The market seems to have broken out of the top side of the downtrend line that has been forcing our decline since mid-October," brokerage FCStone said in a report to clients.
Front-month futures are also hovering right at the 50-day moving average, a level corn hasn't closed above in nearly two months.
Traders remain nervous about world supplies. While a record South American crop is needed to meet demand after the worst drought in decades baked the U.S. crop, excessive rains to start the season have delayed plantings in some areas and prompted worries about yields.
Traders note that South American prices have climbed recently, which FCStone said is "stopping any movement of corn into the U.S." Some meat producers have recently imported corn at the U.S. east coast, taking advantage of cheaper South American prices.
The shift in South American prices and production prospects could lead to more U.S. export demand, but for now weak exports and a struggling ethanol industry, which uses about 40% of the corn crop, will limit the market's upside, analysts said.
The U.S. harvest is mostly complete but slowed last week due to rainfall. The U.S. Department of Agriculture reported 91% of the crop was harvested as of Sunday, up from 87% a week ago but below analyst expectations. The crop was 74% harvested a year ago at this time.(JP)

Asia, South America Helps GM OffSet European Losses

Thank you China and South America! Wider losses in Europe and weaker earnings in North America led General Motors (GM) to report a 13% drop in its third quarter profit. But much of that financial hit was offset by stronger operating profits in Asia and South America, helping the car maker to actually beat analysts’ expectations.

Long, thin snake species found in Ecuador


South American bloc increasingly anti-Israel


While both the European Union and South America’s Mercosur bloc had condemned the latest round of violence in Gaza before Wednesday’s cease-fire, there was a big difference in their respective statements: One was reasonably balanced; the other was shamefully biased against Israel.

South American Aluminum Industry Forecast to Grow at 3.1% CAGR to $6.7 Billion in 2016


Research and Markets has announced the addition of the "Aluminum in South America" report to their offering.

Aluminum in South America industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the South America aluminum market. Includes market size data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Continental support for Palestinian cause in South America


The recent Israeli massacre on Gaza triggered a number of solidarity protests around the world; a significant number of these activities were organised in Latin America, home to thousands of Palestinian refugees. Mauricio Abu-Ghosh, a first generation Palestinian Chilean with ancestral roots in Beit Jala, who is also President of the Palestinian Federation of Chile, discusses the history of Palestinians in Chile and Latin America, the Chilean media's portrayal of the Israeli aggression on Gaza, as well as the Federation's struggle to highlight the Palestinian cause.

Mexico

Susana Gonzalez/Bloomberg News
Updated: Nov. 27, 2012
Mexico is the third-largest trading partner of the United States and a majority middle-class country, but one held back by corruption, poverty, red tape and monopolies.

Maria Santos Gorrostieta: Mexico's mayor-heroine found beaten to death

A mayor who became a heroine in Mexico after defiantly standing up to the country's brutal drug lords has been found beaten to death after sacrificing herself to save her young daughter.

Maria Santos Gorrostieta addressing a rally in 2010. The former mayor of Tiquicheo was abducted in front of her young daughter.

Important for Mexico, US to grow together


The neighbor Americans believe they have to the south, and the Mexico that has developed over the last 20 years, are two different places. As Mexico's incoming president Enrique Peña Nieto meets with President Obama this week, the biggest challenge facing relations today may be our skewed perceptions.
Mexico's drug war bright spot hides dark underbelly

Mexico's drug war bright spot hides dark underbelly
Posted: Wednesday, 28 November 2012 12:53PM
By Dave Graham and Julian Cardona
CIUDAD JUAREZ, Mexico (Reuters) - Inside a notorious Mexican prison where armed convicts used to roam freely, selling drugs and deciding who was allowed in, the state is in control again. Prisoners are back in their cells and the once overcrowded complex sparkles with cleanliness.
But outside on the dusty streets of Ciudad Juarez,

Mexico's president defends legacy

Outgoing leader Felipe Calderon points to successes

Author: By Catherine E. Shoichet CNN
Published On: Nov 29 2012 02:42:50 AM CST  Updated On: Nov 29 2012 01:19:08 PM CST
Jason Reed/Reuters
(CNN) -
Protesters carried a Mexican flag stained with fake blood in the country's capital this week -- a symbol, they said, of President Felipe Calderon's six-year term.
Just a few hours later, Mexican television broadcast video of the outgoing president brushing his hand across a pristine flag as triumphant music played in the background.
The images showed two drastically different interpretations of Calderon's legacy: a fed-up public that has grown weary of a brutal drug war; and a president who maintains that his fight against organized crime was necessary and, by some measures, successful.
"I leave having accomplished my duty and responsibility to serve Mexico," said Calderon, whose term ends this week. "I have worked to leave a stronger, healthier country, with a better justice system and a solid economy."
But activists offered a much harsher assessment, staging a protest in Mexico City dubbed "A Recounting of the Damage: A Six-Year Term of Death."
"Felipe Calderon leaves as a traitor to the country, as the president of devastation and contempt," the Movement for Peace with Justice and Dignity said in a statement, slamming Calderon's "clumsy attempt to reduce crime."
Calderon: We had to make 'difficult decisions'
In his farewell address, broadcast Wednesday night, the president thanked the country's public officials, military and police for "defending Mexican families."
Calderon noted that his government had passed universal health care and kept Mexico's economy stable in the face of the global financial crisis.
But he did not explicitly mention the controversial six-year crackdown on drug cartels that began in 2006, when he deployed federal troops to fight organized crime.
The battle became a hallmark of his tenure, and has sparked mounting criticism in recent years. Government statistics estimate that 47,500 people have died in drug-related violence since Calderon took office.
The Mexican government has not released official figures since January, and others estimate a much higher death toll.
Officials have repeatedly said that brutal battles between rival cartels fueled the violence.
And in earlier speeches, Calderon has noted that 25 of the country's 37 most-wanted drug traffickers were killed or captured during his tenure.
"Thanks to all Mexicans for your understanding before the very difficult decisions that we had to make in order to face so many complicated challenges," Calderon said in his address. "Beyond my capabilities and limitations, I assure you that I have put all my willingness and understanding to work toward the common good of Mexicans."
A recent national survey by the Mexican firm Gabinete de Comunicacion Estrategica (Strategic Communications Office) revealed that nearly 66% of Mexicans questioned believe that drug traffickers were winning the organized crime fight. In that same survey, 52% of the 2,000-person sample questioned said they approved of Calderon's approach to combating cartels.
Analysts offer different assessments of whether Calderon's drug war strategy worked.
Some have argued that the president entered the battle without realizing the enemy's capabilities.
"I think the adversary was larger and more harmful than we thought," security expert Eduardo Guerrero told CNN en Español in 2010. "It was much more capable of responding to the government's strategy, and getting stronger."
Others have said Calderon had no choice but to move forward.
"When Calderon came to power, it was already going on. The only option was to use the army and the federal police. If he hadn't done it ... in no time you would have organized crime controlling the country," Jorge Chabat, who studies security at Mexico's Center for Research and Teaching in Economics, said last year. "If he had waited until the army and police were prepared, Mexico would have more kidnappings, more extortion. He had no other option. It was a bad option, but the others were worse."
But critics, like the peace movement that protested Wednesday, have said Calderon's administration hasn't done enough to help the drug war's victims. And activists have accused his government of turning a blind eye to human rights abuses committed by police and troops fighting the drug war.
In his September state of the union address, Calderon defended his approach, and said abuses by authorities combating cartels were the exception, not the rule.
"And far from hiding them," he said, "in all the cases that were brought to light, action was taken against those responsible."
This week, in his home state of Michoacan, where Calderon first announced his crackdown on cartels, banners with farewell messages addressed to him hung from prominent bridges.

by ally kennedy

The Biggest Financial Story In America--For Years To Come


In mid-2010, as the economic recovery began to show its true anemic color, I bemoaned America’s grasp of basic financial matters (see: Financial Illiteracy Is Killing Us). The article contained a bunch of arresting statistics, but there’s one number that makes all the recent squawking about the $600 billion fiscal cliff—and every other headline-grabbing issue, for that matter—beside the point.
That number is $87 trillion, and it is the present value of America’s future financial obligations—in plain English, what the country owes and, as things stand, cannot remotely hope to pay.

End of the world speculation after new Mayan discovery




Archaeologists in Mexico have confirmed the discovery of a possible second Mayan reference to the date 2012, offering further ammunition for doom-mongers predicting an apocalypse next year.