Elite fear Ferguson-style riots

Davos economist Robert Johnson, who made headlines this week for revealing that the wealthy are buying secret hideaways as a hedge against global instability, warned in a subsequent interview that the elite are also afraid of more riots in the mould of Ferguson, Missouri.

Johnson, president of the Institute of New Economic Thinking, sparked interest when he asserted during an interview at the Davos Economic Forum that many hedge fund managers were purchasing land in remote locations so as to guard against an uprising of the poor caused by wealth inequality.

“I know hedge fund managers all over the world who are buying airstrips and farms in places like New Zealand because they think they need a getaway,” he said, with the New Economics Foundation’s Stewart Wallis agreeing, telling CNBC, “If they can get off, onto another planet, some of them would.”

Johnson expanded on his comments in a subsequent interview, telling RT that wealth inequality has consequences that will result in a rise of social instability worldwide.

“A lot of wealthy and powerful people are quite afraid right now – they see us on an unstable trajectory,” said Johnson, noting that the failure of political institutions to be representative is causing strain on the system.

“As the system doesn’t have proper resources, as it doesn’t represent people, things are getting more and more dangerous as say Ferguson, Missouri brings to bear,” added the economist.

Johnson’s view that the global elite are afraid of riots arising out of wealth inequality is shared by other economists such as Martin Armstrong, who last year predicted that widespread civil unrest would hit America by 2016 as a result of an economic downturn.

“It looks more and more like a serious political uprising will erupt by 2016 once the economy turns down. That is the magic ingredient. Turn the economy down and you get civil unrest and revolution,” wrote Armstrong.

Source: infowars

Zim’s white farmers face new land grabs

Most of Zimbabwe’s white farmers were stripped of their land in often violent evictions that started in 2000. Now the remaining white farmers are on edge because of threats of new evictions linked to the country’s long-running political turmoil.

Mandi Chimene, a newly appointed provincial governor for Manicaland province, said at a rally this past weekend that she had evicted white farmers from 12 farms in the Headlands district alone, claiming they were being protected by the former vice president’s faction. Joice Mujuru was ousted from the ruling party congress in December after falling out of favor with the president and his wife.

Another newly appointed governor, Joe Biggie Matiza of Mashonaland East province, said he will take similar action by the end of this month.

However, human rights advocate and political analyst Gabriel Shumba said that linking the evictions to the Mujuru faction “is just political expediency by those seeking to evict them.” Shumba said, “White farmers are caught up because they are in possession of an asset that is in demand.”

The Commercial Farmers Union, which represents mostly white farmers in Zimbabwe, has sought a meeting with the lands minister over the evictions, said spokesman Hendricks Olivier. “The eviction of both black and white farmers is not good for the sector,” Olivier told The Associated Press. “We need a clear policy.”

Douglas Mombeshora, the lands minister, recently said black farmers can enter into joint venture with partners of other races. But vice president Emmerson Mnangagwa later delivered a conflicting message, warning of more evictions of white farmers. President Robert Mugabe has often spoken against joint farming partnerships between blacks and whites.

There are fewer than 300 white farmers out of the original total of 4,500, according to the Commercial Farmers Union. The land eviction program that targeted white farmers starting in 2000 was defended by Mugabe as necessary to correct land imbalances dating from the era of white rule, though the upheaval was blamed for mismanagement of Zimbabwe’s once rich agricultural economy.

Source: AP

New Saudi king beheads four

Saudi Arabia on Tuesday beheaded two more of its citizens and a Pakistani, continuing the strictest punishment under new King Salman.

Omar bin Yahya bin Ibrahim al-Barkati was tried and convicted of incest, the interior ministry said in a statement carried by the official Saudi Press Agency.

“He was executed as punishment for his crime and as a lesson to others,” the ministry said, adding that authorities carried out the sentence in southwestern Asir region.

In a separate case, Yassir bin Hussein al-Hamza was executed in northwestern Jawf region after his trial and confession for smuggling amphetamine pills, the ministry said.

A third convict, Latif Khan Nurzada, a Pakistani, was executed for trafficking heroin into the kingdom. He was executed in the Muslim holy city of Mecca, the ministry said in another statement.

According to an AFP tally, their executions bring to 16 the number of Saudis and foreigners put to death this year under the kingdom’s strict version of Islamic sharia law.

Four have been executed since King Salman took office last Friday after the death of his predecessor Abdullah.

Under Abdullah, the number of executions jumped from 27 in 2010 to around 80 annually, with 87 last year.

The oil-rich Gulf Arab state faces constant international criticism over its human rights record, including the use of the death penalty.

Source: AFP

US a dangerous ally says former Oz premier

In his new book titled “Dangerous Allies,” Malcolm Fraser, the former prime minister of Australia worries that the Canberra’s dependence on the United States will eventually bring the nation into a direct conflict with China. His words echo those of Georgetown University professor Amitai Etzioni in and article he wrote for the Diplomat on Jan. 20.

Australia has always been strategically dependent on other great powers since gaining independence in 1901. It relied on the United Kingdom until World War II and then transfered that dependence to the United States afterwards. The relationship grew stronger with the signing of the Australia, New Zealand, United States Security Treaty in 1951. Fraser said that the treaty does not require the US to defend Australia, only needing to “consult” it in case of an attack.

In Fraser’s book, he describes how Australia’s blind faith in the UK before World War II left the country unprepared for war. He then goes on to say that currently many feel more vulnerable because of the country’s dependence on the United States. What Fraser and many Australian leaders fears most is that the United States will get Australia involved in a conflict not of its own making. “Australia effectively ceded to America the ability to decide when Australia goes to war,” said Fraser.

Fraser labelled the United States a “dangerous ally” as Australia has become progressively more enmeshed in American strategic and military affairs since the end of Cold War.

Just as with the armed conflicts in the Middle East, Fraser said that the conflict in Ukraine took place partially due to Washington’s attempt to include Ukraine in NATO. He went on to blame the United States lack of historical understanding towards Russia on the matter.

Washington’s policy to “contain” China can eventually lead to trouble for Australia. Believing that the United States will eventually use Australia as a base to attack China, Fraser suggested the removal of all American military facilities from Darwin in the north and Pine Gap in the center of the country as soon as possible. The former Australian leader added that the country should be more independent of the United States in both defense and foreign affairs. While recommending that Australia shore up its diplomatic activities throughout Asia and at the UN, he also suggested an increase in defense spending to 3% of the country’s GDP.

Source: China Times

‘Racism exists across Canada and is part of the human condition’

WINNIPEG—The mayor of Manitoba’s capital tearfully promised Thursday to fight racism and intolerance after his city was branded Canada’s most racist by a national magazine.

Brian Bowman stood surrounded by dozens of aboriginal and community leaders and admitted that Winnipeg has a problem with racism. The city’s first Métis mayor broke down in tears as he talked about passing on his heritage to his young children.

“My wife is Ukrainian heritage. My family is Métis,” he said as he choked back tears. “I want my boys to be as proud of both of those family lines.”

Macleans magazine published a cover story that gave Winnipeg the dubious distinction. It cited the huge gap between aboriginals and non-aboriginals, as well as the recent high-profile death of 15-year-old Tina Fontaine, whose body was found in August wrapped in plastic in the Red River.

It also comes shortly after an inquest report into the death of Brian Sinclair, an aboriginal double-amputee who died during a 34-hour wait for care in a city hospital’s emergency room in 2008. Some staff testified that they assumed he was drunk — “sleeping it off” — or homeless.

The reaction to the article from city hall was swift. The police chief, the provincial treaty commissioner, chiefs and community leaders assembled — not to refute the article — but to promise to do something about the issue it highlighted.

“We do have racism in Winnipeg . . . You can’t run away from facts,” Bowman said following a closed-door traditional smudging ceremony. “Ignorance, hatred, intolerance, racism exists everywhere.

“Winnipeg has a responsibility right now to turn this ship around and change the way we all relate.”

Bowman said that means having an open dialogue with aboriginal leaders before taking concrete action, which he said is coming.

Grand Chief Derek Nepinak with the Assembly of Manitoba Chiefs said keeping the lines of communication open is key. But he warned that combating racism is a huge challenge.

“I guarantee you that, right now, somebody is having a racist experience in a restaurant or on the streets in Winnipeg somewhere. I’m not here to pacify that or to say that it’s okay,” Nepinak said.

“There are people who are wilfully blind, wilfully ignorant to the reality of indigenous people in this society. But we will challenge them.”

Ovide Mercredi, a former national chief of the Assembly of First Nations, said he has experienced racism, but has not let it embitter him. There are many within the aboriginal community with the energy to fight prejudice and ensure there is “zero tolerance” for racism, he said.

“I have a right to be different. If we as a society make that a basic principle — that all human beings have a right to be different — we’d go a long way to solving the intolerance that many people experience,” Mercredi said. “Instead of putting each other down, we should be trying to lift each other up.”

Winnipeg police Chief Devon Clunis, who is black, said he doesn’t believe Winnipeg is the only city grappling with racism. Racism exists across Canada and is part of the “human condition,” he suggested.

“We need to have a difficult conversation in our city respective of race,” Clunis said. “I think you are seeing who is starting that conversation today.” – Toronto Star

Davos: Individual privacy is dead

Imagine a world where mosquito-sized robots fly around stealing samples of your DNA. Or where a department store knows from your buying habits that you’re pregnant even before your family does.

That is the terrifying dystopian world portrayed by a group of Harvard professors at the World Economic Forum in Davos on Thursday, where the assembled elite heard that the notion of individual privacy is effectively dead.

“Welcome to today. We’re already in that world,” said Margo Seltzer, a professor in computer science at Harvard University.

“Privacy as we knew it in the past is no longer feasible… How we conventionally think of privacy is dead,” she added.

Another Harvard researcher into genetics said it was “inevitable” that one’s personal genetic information would enter more and more into the public sphere.

Sophia Roosth said intelligence agents were already asked to collect genetic information on foreign leaders to determine things like susceptibility to disease and life expectancy.

“We are at the dawn of the age of genetic McCarthyism,” she said, referring to witch-hunts against Communists in 1950s America.

What’s more, Seltzer imagined a world in which tiny robot drones flew around, the size of mosquitoes, extracting a sample of your DNA for analysis by, say, the government or an insurance firm.

Invasions of privacy are “going to become more pervasive,” she predicted.

Political scientist Joseph Nye tackled the controversial subject of encrypted communications and the idea of regulating to ensure governments can always see even encrypted messages in the interests of national security.

“Governments are talking about putting in back doors for communication so that terrorists can’t communicate without being spied on. The problem is that if governments can do that, so can the bad guys,” Nye told the forum.

“Are you more worried about big brother or your nasty little cousin?”

“By and large, tech has done more good than harm,” she said, pointing to “tremendous” advances in healthcare in some rural areas of the developing world that have been made possible by technology.

And at a separate session on artificial intelligence, panellists appeared to accept the limit on privacy as part of modern life.

Rodney Brooks, chairman of Rethink Robotics, an American tech firm, took the example of Google Maps guessing — usually correctly — where you want to go.

“At first, I found that spooky and kind of scary. Then I realised, actually, it’s kind of useful,” he told the forum.

Anthony Goldbloom, a young tech entrepreneur, told the same panel that what he termed the “Google generation” placed far less weight on their privacy than previous generations.

“I trade my privacy for the convenience. Privacy is not something that worries me,” he said.

“Anyway, people often behave better when they have the sense that their actions are being watched.”

The World Economic Forum in the swanky Swiss ski resort of Davos brings together some 2,500 of the global business and political elite for a meeting that ends Saturday.

Source: AFP

800 000 rally against Charlie Hebdo in a country of 1.3 million

Nearly one million Muslims rallied in Grozny, Chechnya against the French magazine Charlie Hebdo. There are only 1.3 million people in all of Chechnya.

They’re more upset with the magazine than they are with the killer Kouachi brothers.

Voice of America reported:

Hundreds of thousands of people in the Russian Muslim region of Chechnya gathered in the regional capital Grozny on Monday to protest against caricatures of Islam’s Prophet Muhammad.

Chechnya’s Interior Ministry said more than a million people attended the demonstration. Earlier Monday, the Russian Interior Ministry had estimated the number of attendees at more than 800,000.

The republic’s population is around 1.3 million.

Before the rally, Chechen leader Ramzan Kadyrov urged people to attend to protest against what he called “the vulgarity, immorality, lack of culture, and the shamelessness of those who drew the caricatures of the Prophet.”

Earlier this month, gunman attacked the offices of the French satirical magazine Charlie Hebdo in Paris, killing 12 people. The killings were said to be retaliation for the publication’s depictions of Muhammad.

Some of the Chechen protesters Monday carried signs reading “Hands off the Prophet Muhammad,” Addressing the crowd, Kadyrov declared “If needed, we are ready to die to stop anyone who thinks that you can irresponsibly defile the name of the Prophet.”

Source: Gateway Pundit

Half of global wealth held by the 1%

Billionaires and politicians gathering in Switzerland this week will come under pressure to tackle rising inequality after a study by Oxfam found that – on current trends – by next year, 1% of the world’s population will own more wealth than the other 99%.

The charity’s research, published on Monday, shows that the share of the world’s wealth owned by the best-off 1% has increased from 44% in 2009 to 48% in 2014, while the least well-off 80% currently own just 5.5%.

Oxfam added that on current trends the richest 1% would own more than 50% of the world’s wealth by 2016.

Winnie Byanyima, executive director of Oxfam International and one of the six co-chairs at this year’s WEF, said the increased concentration of wealth seen since the deep recession of 2008-09 was dangerous and needed to be reversed.

“The message is that rising inequality is dangerous. It’s bad for growth and it’s bad for governance. We see a concentration of wealth capturing power and leaving ordinary people voiceless and their interests uncared for.”

Oxfam made headlines at Davos last year with a study showing that the 85 richest people on the planet have the same wealth as the poorest 50% (3.5 billion people). The charity said this year that the comparison was now even more stark, with just 80 people owning the same amount of wealth as more than 3.5 billion people, down from 388 in 2010.

Separate research by the Equality Trust, which campaigns to reduce inequality in the UK, found that the richest 100 families in Britain in 2008 had seen their combined wealth increase by at least £15bn, a period during which average income increased by £1,233. Britain’s current richest 100 had the same wealth as 30% of UK households, it added.

Pope Francis and the IMF managing director Christine Lagarde have been among those warning that rising inequality will damage the world economy if left unchecked, while the theme of Thomas Piketty’s best-selling book Capital was the drift back towards late 19th century levels of wealth concentration.

Barack Obama’s penultimate State of the Union address on Tuesday is also expected to be dominated by the issue of income inequality.

He will propose a redistributive tax plan to extract more than $300bn (£200bn) in extra taxes from the 1% of rich earners in order to fund benefits specifically targeted at working families.

However, the odds of the White House having any success persuading Congress to adopt the plan, given the Republicans’ new grip on both chambers, are extremely long.

Oxfam said the wealth of the richest 80 doubled in cash terms between 2009 and 2014, and that there was an increasing tendency for wealth to be inherited and to be used as a lobbying tool by the rich to further their own interests. It noted that more than a third of the 1,645 billionaires listed by Forbes inherited some or all of their riches, while 20% have interests in the financial and insurance sectors, a group which saw their cash wealth increase by 11% in the 12 months to March 2014.

These sectors spent $550m lobbying policymakers in Washington and Brussels during 2013. During the 2012 US election cycle alone, the financial sector provided $571m in campaign contributions.

Source: The Guardian

Thousands in Pakistan call for boycott on French products

Around 5,000 people rallied against French magazine Charlie Hebdo in Pakistan’s eastern city of Lahore on Sunday, and the founder of a group banned for militant links urged protesters to boycott French products.

Hafiz Saeed, who founded Lashkar-e-Taiba, an organization banned for launching attacks in neighboring India, told protesters: “We will launch a movement against the insulting caricatures of our beloved prophet.”

French satirical magazine Charlie Hebdo published a picture of the Prophet Muhammad weeping on its cover last week after two gunmen stormed its offices and killed 12 people. The gunmen said their attack was revenge for previous cartoons the magazine had published mocking Islam.

Saeed urged traders to stop importing French products and for Pakistani leaders to try to get an international law against blasphemy passed.

Blasphemy is punishable by death in Pakistan.

On Friday, protesters trying to storm the French consulate in the southern city of Karachi shot and injured a photographer working for French news agency AFP.

Source: Reuters

Rising anti-Semitism in Britain

Nearly half of Britons hold anti-Semitic views, a survey has revealed. It also found that one in eight Brits surveyed (13 percent) thought Jews used talking about the Holocaust to get sympathy.

A YouGov poll asked 3,411 UK adults about their attitudes toward UK Jewish citizens. It found that 45 percent polled believed at least one anti-Semitic view presented to them was “definitely or probably true.”

Many found clichés and stereotypes about Jews to be true. One in four believed Jewish people “chase money more than others,” while one in six people felt Jews thought they were better than other people and had too much power in the media.

The Campaign Against Anti-Semitism (CAA), which commissioned the study, said Britain was at a “tipping point” in its Annual Anti-Semitism Barometer report.

Gideon Falter, chairman of the CAA, said: “The results of our survey are a shocking wake-up call straight after the atrocities in Paris.

“Britain is at a tipping point. Unless anti-Semitism is met with zero tolerance, it will grow and British Jews will increasingly question their place in their own country. Britain’s Jews must be shown that they are not alone.”

Around 269,000 Jewish people live in the UK, or 0.4 percent of the British population, according to CAA.

The survey also found that one in 10 people (11 percent) claimed Jews were not as honest in business as other people, while one in five believed their loyalty to Israel made UK Jewish citizens less loyal to the UK, and 10 percent of all surveyed said they would be unhappy if a relative married a Jewish person.

Last year, police recorded a record number of anti-Semitic attacks.

Source: RT

Russian, Turkish media hint at Paris false flag

Conspiracy theories are swirling around last week’s terror attacks in Paris, and beyond the customary fringe websites, they are being aired by Turkish politicians and mainstream Russian and Iranian media outlets.

Those making – or hinting at – the claims would have the world believe that U.S. or Israeli intelligence services were behind the attacks on the offices of the Charlie Hebdo newspaper and a kosher supermarket, which together with a street shooting left 17 victims and three terrorists dead over three days.

A mass circulation Russian newspaper, Komsomolskaya Pravda, ran a front-page headline Monday asking whether “the Americans” were behind the Paris terror attacks.

In the related story, a political analyst, Col. Alexander Zhilin, linked his theory to differences between the U.S. and European Union over sanctions against Russia in response to the Ukraine crisis.

Zhilin, who heads a body called the Moscow Center for the Study of Applied Problems, said immediately after French President Francois Hollande on January 5 raised doubts about continuing with the sanctions, he – Zhilin – had predicted that terror attacks could now be expected in France.

The U.S. needed a way to consolidate U.S.-E.U. unity over the sanctions, he said, and planning a terror attack was a “cheap and effective” option.

Separately, Komsomolskaya Pravda interviewed Russian economist Mikhail Khazin, head of a consulting firm called Neoconomics. He wondered who benefited most from the Paris attacks, and concluded that the primary beneficiary was the United States.

“Let me add that in the elite of the United States there are several groups, each of which has its own opportunities to promote and organize such attacks,” he was quoted as saying.

Khazin went on to list others who, in his view, could also benefit from the attacks, including Britain, Saudi Arabia and “Islamic State, al-Qaeda and so on” – although he added that the latter possibility was “the least likely.”

Other reports in the paper highlighted skepticism expressed by some quarters over the attacks, with one headline highlighting a comment by an Arab café waiter in Paris: “Someone needs a war between Muslims and Christians …”

In Iran, the Press TV broadcaster ran on its website an article by Paul Craig Roberts, a columnist, former U.S. Treasury official, and 9/11 conspiracy theorist, who wrote that one way of seeing the attack on Charlie Hebdo “is as an attack designed to shore up France’s vassal status to Washington.”

“The suspects can be both guilty and patsies,” said Roberts. “Just remember all the terrorist plots created by the FBI that served to make the terrorism threat real to Americans.”

On Roberts’ own website, he also highlights reports from other sources suggesting that the Paris attacks were a “false flag operation” – that is, a covert operation designed to point a finger at a purported perpetrator, while the actual mastermind’s identity remains hidden.

“Whether or not it is a false flag operation, the shootings are being used for a wider purpose or purposes,” he said.

Those purposes could include “bringing France back into Washington’s orbit,” stifling “the growing European sympathy for the Palestinians,” and countering “the rising opposition in Europe to more Middle Eastern wars,” Roberts charged.

‘A plot against the Islamic world’

Meanwhile Melih Gokcek, the veteran mayor of the Turkish capital, Ankara, raised the specter of the Mossad’s involvement, while speaking at a youth congress of the Islamist ruling Islamist Justice and Development Party (AKP) on Sunday.

According to a report by the official Anadolu news agency, Gokcek laid the blame on Israel’s security agency, charging that Israel was angry by a recent vote by French lawmakers supportive of Palestinian statehood.

“Israel certainly doesn’t want this [pro-Palestinian independence] sentiment to expand in Europe,” he said. “That’s why it is certain that Mossad is behind these kinds of incidents. Mossad enflames Islamophobia by causing such incidents.”

Turkish lawmaker Ali Sahin, a senior AKP member, was quoted as saying in Twitter messages that the attack on Charlie Hebdo was “staged like a scene from a movie,” by forces determined to discredit Islam.

The most senior figure to insinuate that all was not as it appeared in the Paris attacks – although he did also condemn them – was Turkish President Recep Tayyip Erdogan.

“Take note that the acts of terror are not carried out in a vacuum,” he said during a joint press conference in Ankara with Palestinian Authority chairman Mahmoud Abbas “The acts follow a predetermined script and we should be alive to a plot against the Islamic world.”

Erdogan, an arch-critic of Israel and key supporter of Hamas – a U.S.-designated foreign terrorist organization – also used the opportunity to slam Prime Minister Binyamin Netanyahu’s participation with other leaders in a mass anti-terror rally in Paris on Sunday.

“I also hardly understand how he dared to go there,” Anadolu quoted Erdogan as saying, accusing Netanyahu of carrying out “state terrorism by massacring 2,500 people in Gaza.”

Source: CNS News

China implements significant policy shift

China has understood Washington’s geopolitical game.

The year 2015 might thus be one of the most decisive and interesting in modern history with China implementing a policy decision that will transform the world over the next decade.

On November 29, 2014, a little-noted but highly significant meeting took place in Beijing. Xi Jinping, Chinese President and Chairman of the Central Military Commission, delivered what was called “An Important Address”.

The official Foreign Ministry statement on the meeting confirms it was indeed “important.” The powerful central leadership has announced an official a strategic global shift in Chinese foreign policy.

China has defined Russia, as well as the BRICS economies, including Africa, as the future and has ceased calling itself a developing country.

In his address to the meeting, President Xi highlighted a sub-category of developing countries beyond the Great Powers, namely: “Major Developing Powers (kuoda fazhanzhong de guojia). China will “expand cooperation and closely integrate our country’s development” with the designated Major Developing Powers, Xi declared.

According to Chinese intellectuals, these are countries who “support reform of the international order”.

It includes Russia, Brazil, South Africa, India, Indonesia, and Mexico, that is, China’s BRICS partners, as well as Indonesia and Mexico.

China believes in an Asian “community of shared destiny” too, implying closer economic and diplomatic ties with South Korea, Japan, India, Indonesia, even Vietnam and the Philippines.

China has furthermore declared a freeze in China-UK diplomatic relations following a meeting by the Cameron government with the Dalai Lama.

China recently signed not one, but several gigantic energy deals with Russian state companies Gazprom and Rozneft, allowing Russia to offset the growing threat to her west European energy exports, a life-and-death issue for the Russian economy.

Russia will deliver 40% of China’s natural gas and explore new areas of cooperation between Russian Armed Forces and the Chinese PLA.

 

North Korea accepts Russian invitation to Victory Day Parade

Russia has invited North Korean leader Kim Jong Un to attend a May ceremony marking the end of World War II, in what would be Kim’s first foreign visit since taking the helm of the reclusive state in 2011, Japan’s Asahi Shimbun daily said Wednesday.

Kim would probably meet Russian President Vladimir Putin, as North Korea backs Russia in the Ukraine crisis and Moscow needs Pyongyang’s cooperation in boosting natural gas exports to South Korea, the newspaper said, quoting unnamed diplomatic sources.

It was unclear whether Kim would accept the invitation, the Asahi said.

But the North Korean leader accepted an invitation to visit Moscow, South Korea’s Yonhap news agency reported on Tuesday.

“North Korea is seeking to deepen both diplomatic and economic ties with Russia at a time when its political relationship with China remains chilly,” the agency said.

North Korea is seeking closer ties with Russia as it faces international criticism over accusations of human rights abuses and its nuclear program.

Putin held talks with Kim’s personal envoy last month and called for deeper ties with North Korea to improve regional security.

Russian Foreign Minister Sergei Lavrov has said North Korea was ready to resume stalled international talks on its nuclear program.

North Korea, South Korea, Japan, China, Russia and the United States began talks in 2003 to rid the Korean Peninsula of nuclear weapons, but they were suspended after Pyongyang tested nuclear devices in 2006 and 2009.

US President Barack Obama is not going to visit Russia any time soon, Mark Stroh, the National Security Council spokesman told the Sputnik news agency on Monday.

“At this time, the President has no plans to travel to Russia in the near future,” Stroh said.

Brazil and Russia may exit BRICS warns phrasemaker

Brazil and Russia’s membership of the BRICs may expire by the end of this decade if they fail to revive their flagging economies, according to Jim O’Neill, the former Goldman Sachs Group Inc. chief economist who coined the acronym.

Asked if he would still group Brazil, Russia, India and China together as emerging market powerhouses as he did in 2001, O’Neill said in an e-mail “I might be tempted to call it just ’IC’ or if the next three years are the same as the last for Brazil and Russia I might in 2019!!”

The BRIC grouping will be dragged down by a 1.8 percent contraction in Russia and less than 1 percent expansion in Brazil, according to the median estimate of economists surveyed by Bloomberg News. China is seen growing 7 percent and India 5.5 percent.

The BRICs were still booming as recently as 2007 with Russia expanding 8.5 percent and Brazil in excess of 6 percent that year. The bull market in commodities that helped propel growth in those nations has since ended, while Russia has been battered by sanctions linked to the crisis in Ukraine and Brazil has grappled with an unprecedented corruption scandal involving its state-owned oil company.

“It is tough for the BRIC countries to all repeat their remarkable growth rates” of the first decade of this century, said O’Neill, a Bloomberg View columnist and former chairman of Goldman Sachs Asset Management International. (GSGEPPA) “There was a lot of very powerful and fortuitous forces taking place, some of which have now gone.”

The growth slump this year isn’t a new normal though and O’Neill sees expansion in Brazil and Russia partially recovering, helping the BRICs average about 6 percent growth per annum this decade — still more than double the average for the Group of Seven nations.

Their share of global gross domestic product will “rise sharply,” he said.

O’Neill had previously estimated average annual growth of 6.6 percent for the BRICs this decade, a pace it was close to achieving through last year mainly because China exceeded the 7.5 percent annual average growth he estimated for the first three years, he said.

Unlike Brazil and Russia, China is embracing economic change while India, after the election of Narendra Modi as prime minister and benefiting from low oil prices and a young labor pool, may have brighter prospects this decade than last, O’Neill said.

With China and India spurring growth, the BRICs will remain the most dominant and positive force in the world economy “easily,” said O’Neill.

China growing at 7 percent will add about $1 trillion nominally to global output every year, O’Neill said. When measured by purchasing power parity, China’s growth adds twice as much as the U.S.’s, he said. India expanding at 6 percent will add twice as much as the U.K. in those terms, he said.

Source: Bloomberg