Egypt president recalls parliament, generals meet

CAIRO (Reuters) - Egypt's new president on Sunday ordered a parliament dominated by his Islamist party to reconvene, challenging the authority of the generals who had dissolved the assembly in line with a court order.

President Mohamed Mursi's decree appeared to catch off guard the generals who handed power to him on June 30. State media said the army's supreme council held an emergency meeting and a council member, declining to be named, told Reuters the generals had not been given prior warning.

The military had been running Egypt since Hosni Mubarak was ousted last year. But, shortly before the handover to the elected president, the army put some curbs on the presidency and gave itself legislative powers.

The president's decision hands those powers back to a parliament that was led by his allies in the Muslim Brotherhood.

After a little more than a week in office, Mursi's move highlights the power struggle likely to define his term, pitting long repressed Islamists against generals used to calling the shots and an establishment full of Mubarak-era officials.

It also threatens a fresh legal wrangle over whether Mursi can overrule a decision by the Supreme Constitutional Court to dissolve parliament, creating more uncertainty at a time when the economy is creaking after 17 months of political turmoil.

"President Mohamed Mursi ordered the reconvening of the elected parliament to hold sessions," according to a presidential statement read out by Mursi's aide Yasser Ali.

Saad Husseini, a senior member of the Brotherhood, said he did not believe the military would challenge Mursi's decree.

"We are confident the military council will not drag the country into a political whirlpool," he said.

Analysts said they had not expected an easy relationship between the army and the Islamist president, but most believed Mursi would tread cautiously to avoid any swift escalation. The Brotherhood has repeatedly said it does not want confrontation.

"This is an early conflict. Everyone was expecting this to happen but not now, unless this decision was taken in agreement with the army council, but I doubt this," said political analyst Mohamed Khalil.

Mursi's decree was announced shortly after he received his first official U.S. visitor in the presidential palace, Deputy Secretary of State William Burns, whose country gives $1.3 billion of aid to Egypt's military every year.

Burns praised Egypt's progress but said there was more to be done. "It will be critical to see a democratically elected parliament in place and an inclusive process to draft a new constitution that upholds universal rights," Burns said after meeting Mursi and before the decree was issued.

EARLY VOTE

After a call for a show of support by the Brotherhood's Freedom and Justice Party, with the biggest bloc in parliament, a few hundred people gathered in Cairo's Tahrir Square. "We love you Mursi," they chanted, along with "Down with military rule."

Mursi has resigned from both the Brotherhood and its party.

In his decree, Mursi called for an early parliamentary election for a new assembly within 60 days of the nation approving a new constitution, which has still to be drafted.

That suggested a possible attempt at compromise by indicating the assembly, criticized by some for a poor initial performance and dissolved by court order just months after it was elected, would not serve a full four-year term.

"The military wanted to dissolve parliament and the Brotherhood doesn't. There has to be somewhere they can meet in the middle or there will be an indefinite stand-off," said Shadi Hamid of the Brookings Doha Center.

"This could be a compromise arrangement for the short term, so the military gets part of what it wanted - a new parliament in coming months - and Islamists can avoid a situation where the military dominates a legislative authority," he said.

The Supreme Constitutional Court called an emergency session on Monday to review the Mursi's move, the court's deputy Maher Sami told the state news agency MENA, signaling there could be a prolonged legal wrangle.

POWER STRUGGLES

Farouk Soltan, the former head of the court who was in charge when it ruled on parliament and who heard Mursi's oath, said the president's decision had no legal basis. He was speaking to the website of the state newspaper Al-Ahram.

Heba Morayef of Human Rights Watch said: "I am not sure that power struggles played out in the legal sphere and which add to the legal uncertainty of the past year and a half are healthy, either for us or the rule of law."

Signaling the legal battle ahead, lawyer and liberal MP Abul Ezz el-Hariry told Reuters he would file a challenge to Mursi's ruling in a court on Monday. Hariry was a presidential candidate who fell out of the race in the first round.

But the move won support beyond the Brotherhood's loyal backers. The member of parliament for the liberal Justice Party, Mustafa al-Naggar, described it on Facebook as a "midway solution to exit the crisis and the legislative gap."

Tarek Elmalt of the moderate Islamist Wasat Party called it a compromise because it meant parliament would not serve a full term but would stay until a new assembly was elected, which he said was preferable to giving the army legislative powers.

"So this is just a temporary procedure that solves our current crisis for the next two or three months," he said.

The Supreme Constitutional Court ordered the lower house of parliament dissolved on June 14 after finding fault with the election process. The generals implemented the decision two days later, a move the Brotherhood has challenged in another court.

The army also issued a decree outlining presidential powers on June 17, the last day of the run-off election.

(Additional reporting by Yasmine Saleh, Tom Pfeiffer and Patrick Werr; Writing by Edmund Blair; Editing by Tim Pearce)

Source: http://news.yahoo.com/egypt-president-recalls-parliament-generals-meet-205905878.html

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Buttonwood: Duncan dough notes ? Financial Press

---

FEW can claim to have predicted the scale of the financial meltdown of the past few years, but Richard Duncan, an economist with a career in finance, made a good attempt. His book ?The Dollar Crisis?, published in 2002, argued that the post-Bretton Woods financial system had led to huge global imbalances and a credit bubble that would end in collapse.

Mr Duncan erred in thinking that the crisis would be prompted by a dollar implosion. But his analysis, again highlighted in his latest book, ?The New Depression?*, still seems acute. Ending the Bretton Woods system of fixed exchange rates, and the dollar?s link to gold, enabled countries to finance persistent current-account deficits. This in turn sparked huge and occasionally destabilising flows of cross-border capital and a massive burst of credit creation. Total credit in the American economy passed $1 trillion in 1964; by 2007, it had exceeded $50 trillion.

This debt explosion showed up not in consumer prices but in asset prices, notably in property. The cycle was self-reinforcing: banks lent money to people to buy property, causing prices to rise, making banks more willing to lend, and so on.

To explain the process, Mr Duncan outlines his ?quantity theory of credit??adapting Irving Fisher?s equation on the relationship between money supply and prices. Instead of MV=PT (the money supply times the velocity of circulation equals the price level times the number of transactions), he suggests CV=PT. The C stands for the total credit in the economy, while V is the turnover of credit. More credit, extended more often, means higher asset prices.

This bit of the book needs more detail, and some data on how his theory is supposed to have worked. The Fisher equation is a truism: the amount of money spent equals the value of goods bought. It is not intuitively obvious that the Duncan equation meets the same standard. Some debt is used to buy consumer goods, some to buy financial assets such as shares, some to buy real assets such as property. It is not clear how these should be aggregated, or indeed how to treat those assets and goods that are not bought with credit.

Still, Mr Duncan has surely grasped a wider truth. During the boom, policymakers ignored rising asset prices?and indeed welcomed them as evidence that all was well?and disregarded accompanying private-sector credit growth. But when asset prices collapsed, and the banks got into trouble, some of that private-sector debt ended up on the public balance-sheet, leading to the current phase of the crisis.

At this point, you might expect Mr Duncan to call for a return to the gold standard. Far from it. The debt deflation that would be necessary to return the credit supply to a level commensurate with the gold standard ?would destroy the world as we know it?, he writes.

Nor does Mr Duncan have much truck with the demands of the tea-party types. He thinks the American government should run big fiscal deficits for the foreseeable future to counteract the lack of private-sector demand for credit. Japan has been able to finance a much higher government debt (in relation to its GDP) without difficulty. But he thinks this spending should be used to improve the economy?s long-run potential. He calls for a programme, costing perhaps $1 trillion over ten years, to invest in solar energy. This might cut the cost of energy by 90%, he claims, delivering a huge productivity gain.

Sadly for Mr Duncan, there is no real prospect of such a project receiving political approval in America. And the massive fiscal stimulus which he thinks ?the most probable scenario? for 2013 is unlikely to occur even if there is a Democratic sweep in November?s elections.

That may leave the economy reliant on the Federal Reserve, and more quantitative easing (QE), a policy which Mr Duncan believes is having diminishing returns. A third round of QE will have a short-term wealth impact (via the stockmarket) but will quickly lead to higher inflation. Much more apocalyptic scenarios may unfold.

If some of Mr Duncan?s predictions look unlikely, the book is well worth reading for its analysis. Policymakers interfere heavily in the modern economy, not just via tax-and-spend policies but also through monetary policy, manipulating the level of interest rates to boost demand. This is not capitalism, he suggests, but ?creditism?. It is this system which has broken down, and unless you understand it, you will not be able to fix it.

?

* ?The New Depression: The Breakdown of the Paper Money Economy?, published by John Wiley.

Economist.com/blogs/buttonwood

Article source: http://www.economist.com/node/21558311?fsrc=rss|fec

Source: http://financialpress.com/2012/07/07/buttonwood-duncan-dough-notes/

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Leah's Family Tree: Northern California Family History Expo Day 1

I'm tired, but it is the good kind of tired (the kind you get from a day of fun and learning). ?Where to begin?

Well, I arrived a little after 1pm at the Crowne Plaza in Sacramento. ?I quickly got registered and then wandered a bit before the keynote?speech?began at two. ?Our keynote speaker was Dean McLeod who provided the perfect start to all the fun ahead.

After the keynote address ended, I made a bee line for the Family Roots Publishing booth. ?I wanted to see if they had some titles I was specifically looking for and if so, I wanted to snap them up before they were gone. ?Luckily, they had a wonderful selection and were very friendly and helpful when it came to a book I had wanted but they didn't have. ?I ended up getting three titles I had been wanting for awhile (and I might get more tomorrow if funds permit): Genealogical Proof Standard - Building a Solid Case by Chrstine Rose, Genealogy As Pastime and Profession by Donald Lines Jacobus and The Researcher?s Guide to American Genealogy by Val D. Greenwood.

After my book haul, I wandered a little bit, then chatted with Sheri of The Educated Genealogist for a few minutes and also met Kim of Le Maison Duchamp. ?Then it was time for my first class: How to Document your "Common Man" Ancestors in British Land Records?by Arlene Eakle. ?As with all the Arlene Eakle classes I've gone to, I left feeling inspired and excited to begin a whole new (to me) area of genealogy. ?This class concerned British land records and the fact that even if your ancestor was a "common man" you can still find information about him in these records. ?I thought it was especially interesting to learn that when the rent was raised, many left to come to America, Canada, etc. where they would purchase their own land. ?I also have to chuckle because we learned that American Dream was a horse, a cow, a home and land to farm I remembered that I have a family picture that?depicts?this "American Dream" to the letter.

My next class also concerned land records. ?It was Deeds and Land Records by Billy Dubois Edgington. ?More than anything, this class was a good refresher as I had not realized how much I had forgotten. ?I also learned a lot, especially terminology and jargon that go along with these records. ?One thing I was never clear on before this class was "quitclaim." ?Now, I'm selling the Golden Gate bridge, who wants to buy it???

Following a dinner break, my next class was another of Arlene Eakle's, British Isles Migration Patterns to America: Documenting "Original" Settlers to New England, New Netherlands, and The South. ?I think of all the classes, this one was my favorite. ?I learned about many new books as well as some of the reasons different groups chose to migrate (for example, the Scottish were usually merchants and came for the money while the Scots-Irish came for the land).

After this class, I visited some more exhibits before heading in for my final session of the day, Angela Kraft's Beyond Names and Dates: Building Your Ancestor?s Profile. ?It was a good class to end the day on: laid-back and fun. ?It was mainly a refresher to me, but I think it would be quite valuable for a beginner to genealogy. ?One thing I really liked about this session was the long Q&A period which seemed lacking in the other sessions. ?We were a pretty chatty group and the presenter was more than happy to answer questions and keep the flow of conversation going among us.

With sessions done for the day, I ended up at the doTerra booth talking Italian genealogy with the folks there. ?I learned about several new websites here and got to see pictures of a variety of Italian records. ?I also got some ideas on where the go with my brick-wall Italian ancestors.

All in all, I had a wonderful day. ?I'm torn about tomorrow's schedule though, because I'd like to attend all the sessions - if only I could! ?Maybe after I sleep on it, the decisions will be clearer (though I doubt it!). ?I can't wait until day 2!

Disclosure: ?I am a Blogger of Honor for the event, see here to learn what this entails. ?I have no affiliation with any person or company linked to or mentioned in this post. ?Beyond what I received from Family History Expos, Inc. I received no further remuneration of any kind from anyone for writing this post.

Source: http://shbwgen.blogspot.com/2012/07/northern-california-family-history-expo.html

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Is South Africa Dreaming to makes plans to ... - World News Tomorrow

WORLD NEWS TOMORROW - The South African International Relations Minister, Maite Nkoana-Mashabane told reporters in Pretoria on Wednesday, after a meeting with the Belgian deputy prime minister Didier Reynders, said that a visiting Belgian delegation would meet South African ministers to explore the possible cooperation.

She announced that the Belgium?s deputy prime minister Didier Reynders is on his first official state visit to South Africa.? Maite Nkoana-Mashabane believe there is an opportunity there in the mining sector to work with Belgium on plans for beneficiation of the mineral resources and taking advantage of your historical expertise in this field of? BEE Black empowerment beneficiation.

Just a few month ago an international expert Baron Baretzky warned against beneficiation in South Africa as it will lead to the abuse of foreign investments and profit a few elite Black Empowerment interests only.

Maite Nkoana-Mashabane said the west European countries had helped support South Africa?s national priorities but did not specify if? Belgium were among them. Nkoana-Mashabane said. ?Despite the ongoing economic challenges confronting Europe, Belgium has remained steadfast in its support for our development efforts,?

She said South Africa had expressed interest in having Belgium play an active role in the mooted Tripartite Free Trade Area (T-FTA), which involves the Common Market of East and Southern Africa, the East African Community and the Southern African Development Community. This however would not seems to benefit Belgium in any form or way.

?I indicated to the minister that the T-FTA will encompass 26 countries, with a combined population of 600-million people and a GDP gross domestic product of approximately US $1-trillion,? she said. We call these weasel words in politics as they don?t profound any ground or substance.

Nkoana-Mashabane said.? We are convinced that the key to economic development of the continent lies in creating the necessary infrastructure to facilitate the free movement of goods and services,? but stangely these policies lays in the hands of the Africans whom don?t seems to implement it.

Belgian deputy prime minister Didier Reynders on Wednesday that the? meeting had focused on a possible renewed interest in deepening a possible bilateral trade between Belgium and SA but it needs much more review. The Prime minister, Didier Reynders, said the discussions touched on the possible ways to bring lasting peace and stability to the Democratic Republic of Congo but its up too the Congolese to implement it.? This will of-course be, only if the conflict financing of Diamonds ends says the world experts.

According to global finance experts it seems that that South Africa will have to more clever to catch the Europeans finance at this moment of the European times in trouble.

Exclusive for World News Tomorrow Belgium

Source: http://www.worldnewstomorrow.com/?p=1436

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Impressive Family Holiday Home With Winged Roof Lines And ...

published in: Unique House Design By Robin Hoox, 06 July 2012

Allow me to share a new list in unique house design archive. impressive family holiday home with winged roof lines and ocean view , a lovely unique house design with wonderful looking. This impressive family holiday home with winged roof lines and ocean view could possibly be great ideas in your case who search an inspiration for ones home. With this specific nice unique house design, i hope your home is often more beautiful and warm.

Exploration of the very idea of this impressive family holiday home with winged roof lines and ocean view is more devoted to the use and combined design with the beauty and aesthetics. Detail on this unique house design also carries a neat design, that leave an awesome improvement for ones home. This impressive family holiday home with winged roof lines and ocean view in addition use material that provides a comfortable surroundings arround. Please understand the pictures of this specific impressive family holiday home with winged roof lines and ocean view below, and thrilled to create your ideal home.

This family holiday home is designed to accomodate several families at once. It?s focused towards expansive ocean views and has winged roof lines. The exterior and interior color palette is soft which perfectly integrates the house into the steeply slopping site. There aren?t clear border between outdoor and indoor areas. The second floor has large terrace which is designed to have BBQ all together while catching beautiful views. Thanks to many large windows and transparent sliding doors these views could also be enjoyed from everywhere in the house. While the color palette is chosen to be neutral the overall interior design is made in contemporary style with all necessary features for having a great holiday. [ DDA ].

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Source: http://www.decorolo.com/impressive-family-holiday-home-with-winged-roof-lines-and-ocean-view-33028/

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Facts about Libya's nationwide elections

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Source: http://news.yahoo.com/facts-libyas-nationwide-elections-193524114.html

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The Explanation Why You Must Consider Acquiring A Portable ...

The initial gaming console to be manufactured was in 1985, this console was in fact the nintendo. Following the production, a gameboy was released on the market in 1989 this was the first ever hand held games system that a lot of people still play on at this time. The manufacturers of the tetris game dispersed over 150 million products of their game all over the world, this game still seems to be probably the most desired games about.

Nintendo and game boy vendors continued to produce some other consoles steadily over the years including; game boy advance, game boy advance sp as well as the nintendo DS. It was a big increase in technologies by nintendo mainly because it included WiFi a microphone and in addition touchscreen display! The DS equally has reverse gaming which means all games from slightly older Nintendo models could be played on the DS.

The newest creation of the nintendo is the actual nintendo dsi, this revolutionary product was launched in July but Japanese people had the chance to test drive this revolutionary product before the rest of the world. The nintendo dsi was loaded with the latest technology which enclosed two touch screens, 2 integrated cameras, WiFi, SD card slot and also included picture, movie and music functionality. You can also get your hands on available games and downloads on the web.

Throughout February 2011, the nintendo 3DS was then introduced after it was primarily released in Japan often known as the nintendo giant. In actual fact, this is actually the 3rd product of the Nintendo DSI, you can furthermore play your DSI games on this completely new console so that you have much more of a mixture of games to play in contrast to sticking to the recently released games. The nintendo 3DS has got the abilities of playing 3D games on what is a huge increase in technology compared to the older models.

Sony has additionally kept up with gameboy by bringing out their very own version of gaming systems much like the well known and still popular playstation 1, 2 and also 3. Their revolutionary Sony PS Vita was released in 2012, this has made a great impression on the way people play their portable gaming consoles. This system is most possibly one of the best and most ground breaking consoles on the market right now. This Sony PS Vita possesses a quad core processor and is also 5 inches across. In addition it has blue tooth technologies, duel analogue sticks together with front and back touch screens.

You should definitely be on the lookout for even more gaming systems to be made, advancements are being constructed each day plus there is even talk of Sony making a gaming console that provides remote play. The thought of playing your PS3 video games on the Vita is truly remarkable and if that function does appear in the marketplace it will master almost every other hand held device for several years to come.

For more game news, check out Nintendo?s new game rhythm paradise for Wii which launches across Europe on 6th July.

Source: http://bbsystems.co.uk/?p=172

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