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U.S. President Bush to visit Peru in 2008

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President Bush and former President Toledo on the front steps of the Presidential Palace during Bush's last visit to Peru in 2002.

© US Whitehouse

(LIP-jl) -- United States President George W. Bush confirmed his attendance for the 2008 Asia-Pacific Economic Cooperation (APEC) Summit, scheduled to be held in Lima, to his counterpart, Peru's Alan Garcia.

During a 30 minute telephone conversation between both leaders, Bush informed Garcia that he will be in Peru for a total of three days.

According to the Press Secretary from the Peru's Presidential Palace, both leaders also discussed the possibility of promptly ratifying the proposed free trade agreement between the United States and Peru in the coming months, in addition to other subjects relating to the United States and South America.

The APEC Summit, which is scheduled to be held in November of 2008, will be attended by representatives from 21 countries.

This will be President George Bush's second visit to Peru. He last came to Peru in March 2002, when he met with then President Alejandro Toledo.

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# hamann says :
28 February, 2007 [ 11:39 ]

Terrible news. this president [GWB] will serve the world
and his legacy, much better if he just stayed put in the
White House, or better even, in Crawford TX within the
confines of his ranch.

He has demonstrated time and time again that he just cannot
get ANYTHING right. 
 
If GWB is now, suddenly, concerned with the Asia-Pacific summit 
and its implications, he should have started by signing the Kyoto agreement on the environment.

The world can't wait for a fresh face leading this White House. 
It is ironic, sad, and incredible [to say a few] that with so many capable individuals in the US political scene, with tremendous potential for statemanship, we are stuck with a president with such little knowledge of history, no sense whatsover of diplomacy, and with one clear trait: his absolute incompetence. 


otto hamann

# otto hamann says :
6 November, 2008 [ 15:05 ]

After the election results,  whereby now Barack Obama is the new President-Elect, I can only add that I pray for this new face which is to  govern the US, as he steers through the financial chaos and debacle we have inherited from his predecessor [GWB] Bush43

Who would have thought....?

That after 8 years of GWB   for whom I voted the first time [2001]!!   [yes I did!!...auch, and yes, I still clinch to my hope for the Republican Party  which is much greater than the disastrous decisions, actions, and narrow-minded views of GWB and his "team"] we would find the USA in this situation...?

Many will be tempted  to quickly place blame on the  'war on terror' [as per GWB] or the Financial Crisis...

Really??

some facts:

the war on terrorism, at a minimum is reported to cost:

10Billion/month on Irak  and  2Billion/month on Afghanistan

But, we still do not have the benefit of the reason/s as to why reportedly the GWB-Whitehouse decided on the Irak War, as these reasons/arguments have changed from day 1: from the Nigeria-Irak-Nuclear-Weapons connection claim [or "nuculear" as GWB would say] which was later dismissed by ambassador Joe Wilson, to "hidden and forbidden weapons"  in the Irak dessert, or.. GWB's last and final:   no matter what... " the world is better without Saddam"

Indeed. However, it is the methodology, cowboyistics, lack of transparency [or plain out lies?], arrogance, deception, etc., most people disagree with. Of course, the words:  "It's the OIL, stupid!"  immediately jump on our faces, while certain lobbies  and their proxies [about which, for now, I will spare you my comments, specially about the ones with "permanent seats" in the White House]  sing Irak-War songs...

It is such a marvelous chorus line.

The "defense guys" led by Cheney and Rumsfeld [still twisting his head from he news] get the show started along with the ever present Karl Rove [the dancer], while the voices of the tenors Paul Wolfowitz, Ari Fleischer, Richard Pearl, Scotter Libby and others slowly but surely begin to stand out as they start hitting the highest notes, everybody sings along, even the "man of virtues"  William Bennet  is there, making desperate attempts to blend his voice into the music.

It is such a beautiful and inspiring sight...!
One would think that it has all been rehearsed before. 
Noooo...! how can you think that?
They are just "naturals" who blend  easily together and quickly create art.
Yes, as in a spontaneous combustion.

GWB with his [unrehearsed...] compassionate look, stares attentively at  the stage while attempting  to draw an indescribable expression on his face, one of many in his repertoir, not to reveal the full weight of his emotions. This is the moment he has been waiting for.
The decision is made. 

Wofowitz followed by the tenors, approaches the president.
With a soft voice he mentions to GWB, again, that war with Irak
must start. However, no convincing is needed. Then, Wolfowitz adds:
"it will not cost us anything..since Irak is a rich country.. full of oil" : [Wolfowitz] [of course, the important matter of money will no longer be an issue...right?] Soon, Cheney and Karl Rove join in.
Cheney-the-Dick: "It's doable" and "we will be treated as liberators"
Karl doesn't need to say much. He has been working behind the scene, and now it is time to dance. 

After a few months into the war:  "Mission Accomplished!" is proclaimed by GWB. 5 years later, 3000+ dead soldiers, 30,000 wounded,
150,000 + US soldiers are still stationed in Irak, with no clear end in sight... One thing is certain:  GWB's words: "we will stay the course..." 
and "nothing short of victory" will mark the return of our troops, seem to be going up in smoke.

The word "smoke" just hit a cord. Remember the gay who was going to be "smoked out of his cave" in Afghanistan...?  o.k., I rather not talk about it.

Therefore, considering the Irak-War cost, and that it has  been proven that Irak had nothing to do with the attack on the World Towers [as per CIA's own investigation]...  the "war on Terrorism"  would fall to 1/6th of the actual cost.

Synopsis of The Financial Crisis

The Real Estate Corner:
In an environment of unprecedented low interest rates, banks lend money to an increasing number of borrowers in the USA to purchase properties, these loans are made without proper due diligence, and in many cases to borrowers who should have never qualified for such loans, monthly payments [interest] on such loans are setup to increase after a pre-determined period of time..., these loans are put together in 'securitized" instruments to be sold all over the US and the world,  to banks and financial institutions..., borrowers of these loans find it difficult to meet their obligations, monthly-payment-obligations begin to fail..., the "securitized instruments''-holders are not getting their projected yield, these instruments begin to loose value,  etc...
these instruments in turn had been used to secure more loans loans...depositors then get spooked, and begin withdrawing funds from suspect institutions, liquidity becomes scarce in banks, cash flows between banks freeze up, as they [the banks] are not even willing to lend among each other [much less to the public] this sets the stage for the first major explosion Freddy Mac and Fannie May..., and then [Lehman Brothers] as the lack of liquidity makes it impossible to meet current financial obligations...

The Derivatives' Corner:

Warren Buffet has called them "financial weapons of mass destruction."
These outlandish financial instruments resulting from a combined effort
of some of the most creative and imaginative minds in Wall Street,
enticed by the quick and enormous profit-potential  [which makes Gecko's: "greed is good" credo, sound like child's-play] were born even in defiance of the law of gravity, with a continuous and uncontrollable upward movement, however as vulnerable and dangerous as  a huge and ever expanding helium balloon,  which can literally disappear in seconds in contact with the most minuscule spark, and burn and consume everything around it. Thus,  the AIG debacle,  and the 150+ billion [so far ?] the treasury has put literally in the line the fire,
and even more importantly, to deter its expansion throughout the system. 

This financial-crisis-monster is now moving like a huge, intoxicated creature, to which Central Banks around the world seek to drown,
with an overdose of cash, trillions of it, lest it surprises us by attacking here or there, looking for the weakest link to bring this globalized world into a tail spin.

It takes a huge and sharp financial weapon to defeat another, and eventually we must pay for it... and sooner, rather than later, we will find 2 unwanted guests: higher [perhaps much higher] taxes,
and increasing inflation. Don't let the blowing head-winds on the commodities fool you... yes, deflation is a possible [very] possible scenario, in fact it is already present in many items, and it is working slowly its way through the chain, affecting final prices to the down side.

But the stage for a most unwelcome surprise:
the perfect storm with an enormous tidal wave is already being set,
fueled by the limitless amounts of money being pushed into the system by central banks and governments,  turning money flows into uncontainable floods, which have only one way to go: up, way up, by pushing prices to much higher levels.    

Wrapping up the Financial Crisis 2 main fronts: the Real Estate Melt Down, and the Derivatives Explosion,  one word comes to mind: OVERSIGHT. 

Too simple?  think again. Lack of oversight by the appropriate entities and regulatory agencies beginning with the FED, SEC, Treasury, etc.,  Yes. 

The Real Estate bubble, fueled by  loans which, to begin with, should never have been granted to unqualified recipients, to be later "packed"  or "securitized" into financial instruments which many bankers could not even understand, much less appropriately value,  and  "Derivatives" in many different forms such as "swaps" to price and  mitigate risk against loss of value of a  certain security, did not appear suddenly; the were created, planted, re-planted, watered and grown throughout many years under the watch and passiveness  of many people in charge of key decision-making roles,  who were repeatedly told of the  danger,
only to quickly dismiss the party-poopers...

Alright. I''ll refrain for now from enlarging this circle to include Katrina, Valery Plame, Richard Clarke, Halliburton, Black Water, the patriot law, Guantanamo bay, the dismal situation of health care, the abuse of "executive privilege" etc  ... and perhaps more importantly, the incredible Divide among fellow citizens, which was forged by the present administration.

It requires lots wisdom to be able to properly allocate blame where it belongs. However, how would you place it when the one at the very top, leads always the way carrying a banner which says "blameless"?  Perhaps, one should look no further than at the extraordinary example of fellow Republican party candidate John McCain, as he remarked when conceding defeat to Obama:   ".. it was all my fault."
A dose of humbleness, and humility works miracles within and without...
-  And, Mr. McCain, Sir, respectfully,  I do admire your example,  and your of humility; and it is just a shame that you had to carry such huge and overwhelming baggage with the
numbers 43 clearly written on it.

I don' t know what the future will bring with this new administration.
I can not look into Obama's eyes and say that I have looked into his soul, and that I know this man. No, I don't have that gift, neither I claim it. But one thing I know: that millions of people in the USA, myself included [and around the world] have hope, and lots of it, and wish Obama  well in his decisions while facing the daunting challenges ahead. 

Otto Hamann

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