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Liberty Newspost Oct-09-2012

Liberty Newspost Oct-09-2012

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A compelling mix of curated news.
A compelling mix of curated news.

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Published by: Liberty Newspost Corp. on Oct 09, 2012
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Curated News Editionhttp://www.LibertyNewspost.com- 09/10/12
Submitted at 10/9/2012 12:01:23 AM
 Sydney Morning Herald Hong Kong, China shares make robust gains on market reformhopesReuters(Updates to midday). * HSI up 1.1pct at 5-mth high, H-share indexup 2.1 pct. * CSI300 up 2.4 pct,Shanghai Comp up 2.1 pct. *Sinopec shares near 5-monthhigh, lead energy sector rally. *ZTE shares slump 4.9 percent,extend drop on U.S. Congress... China art auctioneers face off  with foreign rivalsWall StreetJournal Asian Stocks Rise as China Stimulus Hopes Offset IMF CutBusinessweek  Hong Kong, China stocks rise after PBOC injectionMarketWatch Business Insider-Business Recorder (blog)-China Daily all 442 news articles »[unable to retrieve full-textcontent]
Submitted at 10/8/2012 11:07:44 PM
 US must avoid fiscal cliff,Canada quell housing boom: IMF Chicago TribuneWASHINGTON (Reuters) - TheUnited States will continue tonotch modest growth of around 2percent growth this year and nextbut must avoid a year-end 'fiscalcliff' of tax hikes and spendingcuts that would tip it back intorecession, the IMF said on... and more »
Submitted at 10/9/2012 12:22:19 AM
 IBNLive Cauvery row: The sum of allfearsDaily News & AnalysisThe row over the sharing of Cauvery waters betweenKarnataka and Tamil Nadu hasreached a flash point, with aconstitutional crisis unfolding inthe state becoming a realpossibility. The state governmenton Monday evening claimed tohave stopped the... Karnataka stops release of Cauvery water to Tamil NaduBusiness Standard Karnataka is not India, andMandya is not Karnataka: SriramaReddyThe Hindu Cauvery water dispute: Protestsin Karnataka likely to continuetodayIBNLive Oneindia Entertainment-Times of India-Deccan Herald all 308 news articles »[unable to retrieve full-textcontent][unable to retrieve full-textcontent][unable to retrieve full-textcontent]
2Curated News Edition
Submitted at 10/9/2012 12:19:47 AM
U.S. President Barack Obamagestures while speaking at anObama Victory Fund concertwhile at the Bill Graham CivicAuditorium in San FranciscoOctober 8, 2012.Credit: Reuters/Larry DowningBy Margot RooseveltLAS VEGAS| Tue Oct 9, 20121:19am EDT(Reuters) - Last October,President Barack Obama mounteda makeshift podium on La PlacitaAvenue, in a Las Vegassubdivision hard hit byforeclosures. As TV cameraswhirred, he pledged to do"everything in my power to helpstabilize the housing market, growthe economy, accelerate jobgrowth."Hubert Pereira, a cook, was in thefront row that day. "It was great,"he said, beaming as he recalledthat the president had shaken hishand and hugged his companion,Felisa Medalla.But a year after the speech, thehandshake and the hug, Pereiraand Medalla are far fromconvinced that happy times arehere again.Pereira, 50, recently switched hisregistration from Democrat to"nonpartisan" after suffering ayearlong bout of unemployment.Medalla, a waitress who was laidoff seven months ago,complained: "People say Obamais doing good. But how can he bedoing good when I don't have a job?"Her question goes to the heart of why, despite Obama's recentuptick in the polls, his battle forreelection against Republicannominee Mitt Romney remainstoo close to call.In nationwide Reuters/Ipsossurveys, conducted over ninemonths, a startling 35 percent of households have suffered a majoreconomic setback in the past fouryears. They have either lost ahouse to foreclosure or are in themiddle of losing one. Or theyhave lost a job or taken a pay cut.Almost 96,000 adults were polled.The disillusion among voters inthis group is extreme: Only 21percent think the nationaleconomy is going in the rightdirection, while 73 percent say itis on the wrong track.Strikingly, many don't seem toblame the president. They divideabout evenly on which candidatehas the better plan for theeconomy: Forty percent pick Obama and 42 percent chooseRomney.OUT OF WORK ANDUNDERWATERAt the edge of Las Vegas, milesfrom its garish casinos and peepshows, acres of dun-coloredstucco homes, once mostly owner-occupied, are pimpled with "ForRent" signs. U-Haul vans wind inand out of dusty lanes with jauntynames: Rosy Sunrise Street,American Beauty Avenue, GloryRise Court.In Nevada, one of a handful of swing states that could affect theelection's outcome, the recessionhas hardly receded. The state's12.1 percent unemployment is thenation's highest. Experts sayanother foreclosure wave is in theoffing, as 59 percent of Nevadahomeowners still owe more ontheir houses than the value of theirproperty - as compared to 22percent nationwide.La Placita, a one-block streetwith Hispanic, Caucasian andAfrican-American residents, hasseen its share of suffering, beforeand since Obama's visit. Tinfoilcovers the windows of severalhomes, an effort to cut the cost of air-conditioning. A red, white andblue flier tucked in a door jambreads "Obama fights for ourAmerican Dream," but the houseis empty due to a recentforeclosure.Pereira and Medalla, who lost ahome before moving to a rental atthe foot of La Placita, areundecided about how they willvote on November 6. But many of the street's residents who have lost jobs and homes since Obama waselected nonetheless plan to castballots for him."Everything is slowly gettingbetter," said Joseph Wozniak, 29,who shares a La Placita rentalwith two housemates. "I didn'texpect miracles."Wozniak lost a job installingelectronics in spec homes whenthe housing market imploded. Hesurvived on food stamps andunemployment benefits for a yearuntil he found work at a musicstore. A few months later the storewent under.But Wozniak, who plays in twobands, used the months of unemployment to hone his skillsrepairing electric guitars andprogramming lights for art shows.He now makes about $25,000 ayear as an independent contractor."Obama is responsible forextending unemploymentbenefits," he said. "I used thattime to build a network."The main reason he plans to votefor the president is healthcare, headded. Wozniak has no insuranceand is hoping that under theAffordable Health Care Act,informally known as Obamacare,he can afford the asthma medicinehe needs.A more robust safety net is onereason many voters give forsupporting Obama. In Reuters/ Ipsos surveys of those whosefamilies have suffered from therecession, the president outpollsRomney, 47 percent to 43 percent."I DON'T KNOW WHO TOBLAME"Romney supporters saycontinuing job losses andforeclosures are reasons to votefor the GOP nominee.At a recent rally in the Universityof Nevada's Cox Pavilion,Romney told 3,000 cheering LasVegans that he would easeregulations on banks "to reignitethe housing economy" and wouldget the federal government to sellmore than 200,000 vacant,foreclosed homes it owns.He reiterated his pledge to create12 million jobs over four years, assupporters, many of them wearing"Nobama" buttons, shouted"USA! USA!"With both presidential candidatestouting plans to boostemployment, voters whosefamilies have been most affectedby the recession remain sharplydivided over who would bestprotect American jobs. In Reuters/ Ipsos surveys, 42 percent pick Obama and 41 percent chooseRomney.In the top row of the pavilion,Andrew Bateman, 35, with his 8-year-old son in tow, wasvigorously applauding the GOP
Top News/ 
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nominee. Romney, a formerprivate equity executive, "has agood track record in turningbusinesses around," he said."Obama could have done a lotmore on the economy."In an interview after the rally,Bateman, a single father, said hisbusiness selling life insurance toteachers had dried up in 2010after budget cuts to local schools.He and his son moved in with hisparents and went on food stamps.In February his father lost his jobas a piano salesman. Bank of America foreclosed on theirhome, and his father moved toSpokane, Washington, for another job.Bateman went back to college toget an accounting degree and nowsurvives on college loans,splitting the rent on a condo withhis girlfriend. But he expects todrop out by the end of the yearbecause, he said, he has hit theceiling for Pell grants andcolleges are making it harder toborrow money."I don't know who to blame," hesaid, "but Obama was supposed tobe the education president."THE HEALTHCARE DIVIDENevada, where the most recentpolls show Obama leading byseveral points, is awash withcampaign advertising. In one TVspot, the Obama campaignoverlays photos of veterans,senior citizens, factory workersand families with Romney'srecorded comments at a fundraiserthat 47 percent of Americans"who believe they are entitled tohealthcare, to food, to housing"will vote for Obama. "My job isnot to worry about those people,"Romney said.Obama also seeks to contrastRomney's more laissez-faireapproach to housing with his ownefforts to push banks to modifymortgages. A union-funded TVspot features Romney's commentsto a Las Vegas newspaper: "Don'ttry and stop the foreclosureprocess. Let it run its course andhit the bottom."Meanwhile, Romney is takingaim at the president's healthcarereform. "Some think Obamacareis the same as free healthcare," the30-second ad says. "But nothingis free. Obama is raiding $716billion from Medicare, changingthe program forever."The spot taps into deep divisionsover the 2010 Affordable CareAct. Even among those whosefamilies have lost jobs, lostincome or suffered foreclosures,only 48 percent support the law,and 52 percent oppose it inReuters/Ipsos' surveys.Paradoxically, when asked whichcandidate has the better approachto healthcare, they prefer Obamato Romney 44 percent to 38percent.Romney backers are also runningspots capitalizing on an Obamaremark that infuriated manyNevadans. It features a sentenceplucked out of context from a2010 speech to a New Hampshirecrowd: "You don't blow a bunchof cash in Vegas when you'retrying to save for college."That ad, which ran on Spanish-language TV, nevertheless madean impression on Uziel DeLeon, alaid-off housekeeper who waschecking out a rental near LaPlacita on a recent morning."Obama told people not to wastetheir money coming to Vegas," hesaid incredulously. "But withouttourists, there's no work here."So would he vote for Romney?DeLeon, a Guatemalan immigrantwho became a U.S. citizen threemonths ago, shook his headdismissively. "Romney wants tokick out people who are not fromhere," he said. "Obama would domore for Latinos."Hispanics, who accounted for 16percent of the Nevada electoratein 2008 and 2010, haven'tforgotten Romney's support forArizona's restrictive immigrationlaw and his suggestion during theGOP primaries that some 12million undocumented workersshould "self-deport."Among Reuters/Ipsos' surveys of voters whose families have lost jobs, income or sufferedforeclosures, Obama beatsRomney among Hispanics by 78percent to 19 percent and amongAfrican-Americans by 89 percentto 1 percent. Among whites,Romney retains a clear advantageof 52 percent to 36 percent.FAITH IN THE AMERICANDREAMIn swing states such as Nevada,Florida and Colorado, the Latinovote could prove decisive.A few blocks from La Placita ona recent afternoon, Luisa Garay,26, unpacked groceries in thekitchen as her mother cookedchicken tacos. A sister wasironing in the living room, abrother was watching TV. Smallchildren darted about.Garay's father immigrated legallyfrom Honduras and worked hisway up from busboy to civilengineer with the NevadaDepartment of Transportation. Hebought a home and, during thehousing bubble, refinanced it tobuy another, which he rented toGaray and several roommates.When the recession hit, Garay,the single mother of an 8-year-old, lost her job as a collegecounselor. She and her roommatescouldn't afford to cover themortgage. What with other joblosses and some illness in thefamily, "Everything fell apart,"Garay said. "We hired a lawyer,but the bank foreclosed on bothhomes. I've never seen my dad sosad. We all fell into depression."Like Romney, the Garays areMormons, as is about 7 percent of the Nevada electorate. And whilemost Mormons vote Republican,the Garays support Obama."Romney seems to think we arelazy," Garay said. "But when Ilost my job, I worked seven daysa week to make ends meet -cleaning offices, tutoring, caringfor disabled kids."She sees Obama as supportive onhealthcare (she has no insurance),food stamps (she got them afterlosing her job) and student loans(she owes $15,000). "Obama isfor the working class," she said.Despite the family's troubles,Garay's lot is improving. Shefound another full-time job,leading college workshops forhigh school students, andqualified for an FHA loan to buyan $80,000 home. Her parentshave moved in with her."We're all struggling to make it tothe American Dream," she said.Whether Americans seethemselves as achieving thatdream - and whether they think Obama or Romney might make iteasier to get there - is fundamentalto the election.In Reuters/Ipsos surveys, whenthose whose families havesuffered job losses, income cuts orforeclosures were asked if "peoplein this country can still live theAmerican Dream," 53 percentagreed they can.It is a slim majority, but itsuggests that on La PlacitaAvenue, in the surrounding streetsand across the United States, thestrivers outnumber the skeptics.(Editing by Prudence Crowtherand Douglas Royalty)This entry passed through theFull-Text RSSservice — if this isyour content and you're reading iton someone else's site, please readthe FAQ atfivefilters.org/content-only/faq.php#publishers.FiveFiltersrecommends:IncineratingAssange - The Liberal Media GoTo Work .

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