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Global stocks, euro slide on EU bailout, Greece vote doubts

Global stocks and the euro fell on Friday as new doubts about Europe’s bailout package and worries over the outcome of a key vote in Greece overshadowed signs of improvement in the U.S. labor market.

Greek Prime Minister George Papandreou faces a vote of confidence, with the fate of the nation’s deal on a euro zone debt bailout and the global economy in the balance.

Analysts declared the outcome too tight to forecast, but had a hunch Papandreou might survive the vote, which is expected as late as midnight in Athens (2200 GMT).

 

The bid for safe-haven assets rose, with government debt on both sides of the Atlantic gaining after German Chancellor Angela Merkel said few countries in the Group of 20 leading economies had committed to providing more resources for a euro zone rescue fund.

Merkel’s comment eclipsed relief over the decision by Greece on Thursday to ditch controversial plans to hold a referendum on its bailout, a development that initially had calmed fears of an imminent sovereign debt default.

Merkel’s comment highlighted the fragility of the deal reached to rescue Greece. At the heart of the deal is a plan to increase the euro zone’s rescue fund to give it firepower of 1.0 trillion euros.

Signs of some improvement in the U.S. labor market failed to lift the market. Labor Department data showed U.S. hiring slowed in October, but the unemployment rate hit a six-month low and job gains in the prior two months were stronger than previously thought, pointing to some improvement in the still-weak labor market.

Trading has been volatile on quickly changing news from Europe. The U.S. S&P 500 has registered daily swings of more than 1.5 percent this week. The benchmark index, which posted its best month in 20 years in October, was on track to post its first down week in five.

“There’s too much uncertainty going on. What Greece has taught us this week is that just when you think things are certain, they’re actually not,” said Camilla Sutton, chief currency strategist, at Scotia Capital in Toronto.

World stocks measured by the MSCI all-country world index pared losses to trade near break-even on strength in emerging markets. EPFR Global reported $3.5 billion flowed into emerging market equity funds in the week ended Wednesday, the second-largest inflow this year.

In Europe, the FTSEurofirst 300 index of top regional shares slid 1.0 percent to 980.01, erasing early gains. The index posted its first weekly loss in six weeks.

Italian banks UniCredit and Intesa SanPaolo, heavily exposed to Italy’s sovereign debt, fell 6.6 and 4.8 percent, respectively.

Italian Prime Minister Silvio Berlusconi, who is facing pressure to step down, turned down an offer of funding from the International Monetary Fund, which has placed the country under supervision as it struggles with its debt mountain.

Bad Blood: Joyner Blames Smiley for Halperin’s Obama ‘Dick’ Diss

Whoa, it’s going down. And that’s putting it mildly with the situation between Tom Joyner and Tavis Smiley.

Simply put, Joyner, who served as co-host/MC, along with Angela Bassett at theMcDonalds365Black luncheon at the Essence Festival on Friday, is flat out saying that Tavis Smiley along with his “side-piece,” Cornel West is responsible for the climate that’s made it comfortable for Obama haters like Time magazine’s Mark Halperin to call President Obama a “dick.”

The reaction to Joyner’s commentary is bound to be “interesting” to say the least and it’ll be surprising if it doesn’t set off a firestorm of reactions in Black America and beyond.

 

My New D-Word for Tavis and Cornel
Before I get to Mark Halperin, let me give you a little background.

They say that if you’re angry with someone, you should write a letter, get all the mean stuff out, and then tear it up or delete it. When you’re a little more calm, you write another letter or confront the person face to face.

About a month ago, I wrote a blog about Tavis Smiley and decided to table it because I said some things I didn’t want to publish. You’re probably thinking I went too hard him, but no. In reality, I hadn’t gone hard enough – and I knew it. I said I’d wait until something pissed me off so bad that I would have the words harsh enough to express what I was really feeling about him and his side piece – I mean side kick – Cornel West.

Well, yesterday, when Mark Halperin – a well-respected journalist, employed by a well-respected magazine and a contributor to a well-respected news network – had the audacity to call the president of the United States a dick, that was all I needed.

While I am appalled at Halperin’s statement, I have no expectations of him as a man and know nothing about his character. I am appalled, however, that as editor-at-large of Time magazine, he is responsible for among other things, deciding what stories will be covered in that publication. As the person in charge of political content, it is upsetting to know that he probably has not been objective in his dealings with material I and so many people look forward to (until now) reading each week. Needless to say, I’ve cancelled my subscription to Time magazine and hope you will too.

But I’m even more disgusted with Smiley and West, two brothers who I did have expectations of – and thought I knew. These two have done much worse than what Halperin has done because they set the tone for it, opened the door to it, and must take much of the blame for creating a climate that would make a white, professional journalist feel comfortable verbally and vulgarly attacking the first black president of the United States.

When you think you know a person, when you’ve given a person a forum to present his views, when you’ve had a hand in a person’s success, you want to believe that he is the same person he always was.

Remember THAT Tavis – the one who could take any complicated political story that had an impact on black America and “break it down” for us every Tuesday and Thursday in less than five minutes. The one who coined the phrase “radio advocacy” and alerted us any time anyone – from a private business owner to a politician to a corporate giant – even thought about doing black folks wrong. The Tavis that loved black people so much that he would sometimes, during his commentaries, be moved to tears. Where is that guy? You know, the guy that would have been telling me, “Fly Jock, Halperin has got to go.” For a while, I thought he was still with us, even though people around me (and many of you) tried to convince me otherwise. “Tavis is a hater.” “Tavis is only about himself.” “Tavis is jealous of the president.” I wouldn’t believe any of it. I had so much respect for him before his primary goal became selling books, and, later, selling out.

As we approach the Fourth of July weekend, one that celebrates our freedoms, including freedom of speech, I wish someone would use that as a defense of what Tavis, Cornel and Mark Halperin have said against our president. When dangerous words incite and brew up hatred and violence, there is a line. And these three crossed it.

In case you believe I think Tavis and Cornel called the president an offensive name, I don’t. I think they did something even worse. Any black people with any sense know that racists on the job, at school, at church or on the bus wait for opportunities to feel comfortable enough to spew their evil thoughts. If a black person tells a racist joke in front of a racist or laughs at one, it won’t be long before the racist begins to fire off a couple of his own. Mark Halperin and others are no different. They hate the president because he is black, and Tavis and Cornel, by not having the sense to not give them the opening they waited for, went all in. And this is what we get.

So, yes, MSNBC, fire Mark Halperin. I hope he never works again. I’ve already fired Tavis and Cornel. There’s nothing either can ever do for me or with me again.

I’ve got a new D-word for the two of them: Done.

Like we said, this is definitely a “Whoa!” moment. Based on the tone of the piece, one can only wonder if there’s something really personal coloring Tom’s comments as well. What do you think?

Strauss-Kahn case “on the verge of collapse” as accuser’s story questioned

NEW YORK — The sexual-assault case against former IMF chief Dominique Strauss-Kahn is set to take a dramatic U-turn on Friday as prosecutors have come to question the credibility of the accuser. As a result, the bail and house arrest restrictions imposed on the French politician may be eased following a court hearing scheduled for Friday.

The alleged victim, a 32-year-old hotel maid from Guinea, was said to have lied repeatedly, according to a report in the New York Times on Thursday.

Benjamin Brafman, a lawyer for Dominique Strauss-Kahn, said: “There will be serious issues raised by the district attorney’s office and us concerning the credibility of the complaining witness”.

Prosecutors are reportedly expected to bring a number of revelations about the accusing maid’s past into light on Friday, including an alleged gang rape in her home country which she later admitted she made up, and an association with a man convicted of drug charges which has been recorded in a taped telephone call.

Brafman is likely to ask the judge during Friday’s hearing to end Strauss-Kahn’s house arrest and electronic monitoring in the light of the diminished credibility of the accuser.

Prosecutors, however, are not expected to ask for a dismissal of the charges against Strauss-Kahn, who faces a seven-count indictment at this stage.

Strauss-Kahn has been under armed guard in a Manhattan townhouse after posting a total of $6 million in cash bail and bond.

 

 

Old Spice Guy Joins Jennifer Aniston Film

Isaiah Mustafa, the former NFL player whose fame skyrocketed as “The Man Your Man Could Smell Like,” has just been cast opposite Jennifer Aniston and Jason Bateman in Warner Bros. upcoming comedy “Horrible Bosses.”

The film follows three friends who conspire to murder their awful bosses for standing in the way of their happiness. Mustafa will portray a police officer.

“It’s a smaller role, but who wouldn’t want to be in one of these funny, irreverent comedies?” Mustafa tells the Hollywood Reporter. “The cast is great. I’m playing a cop because I play these authoritative characters well. I don’t know exactly who I’m in the scene with — maybe Jennifer Aniston.”

The casting in “Horrible Bosses” follows parts in Tyler Perry’s “For Colored Girls Who Have Considered Suicide When the Rainbow Is Enuf,” as well as an upcoming guest spot on NBC’s action-comedy “Chuck.”

All this comes on the heels of Nielsen data indicating that sales of Old Spice body products are up a monumental 107% in the past month as a result of his Emmy-nominated spots, and the Old Spice YouTube channels have been viewed more than 58 million times.

Mustafa’s second ad for the company premiered in recent weeks, and it could be his last.

“As far as commercials, I don’t think there are any more lined up,” he says. “They could always change their mind and want more. I signed on to be their spokesperson for a year, so I still have a few months left.”

THE GEOGRAPHY OF A WOMAN

GEOGRAPHY OF A WOMAN

Between 18 and 22, a woman is like Africa . Half discovered, half wild,
fertile, and naturally beautiful!
Between 23 and 30, a woman is like Europe . Well developed and open to
trade, especially for someone of real value.
Between 31 and 35, a woman is like Spain , very hot, relaxed and convinced
of her own beauty.
Between 36 and 40, a woman is like Greece , gently aging but still a warm
and desirable place to visit.
Between 41 and 50, a woman is like Great Britain , with a glorious and
all-conquering past.
Between 51 and 60, a woman is like Israel , has been through war, doesn’t
make the same mistakes twice, takes care of business.
Between 61 and 70, a woman is like Canada , self-preserving, but open to
meeting new people.
After 70, she becomes Tibet . Wildly beautiful, with a mysterious past
and the wisdom of the ages. An adventurous spirit and a thirst for
spiritual knowledge.

THE GEOGRAPHY OF A MAN

Between 1 and 80+, a man is like Iran , ruled by nuts.