Markets steady amid Xmas exodus, US budget doubts






LONDON (AP) — Financial markets were largely steady in holiday-thinned trading Monday though concerns remain over the progress of U.S. budget discussions and the future of the economic reform program in Italy.


For weeks, the discussions between the White House and Congress over a budget deal have been the main driver in markets. If a deal isn’t agreed to by the start of 2013, automatic spending cuts and tax increases worth hundreds of billions of dollars will be imposed — which many economists think could push the U.S. economy back into recession.






The prevailing view has been that a deal would be agreed to in time but as the deadline nears there are growing doubts over whether the U.S. will be able to avoid the so-called “fiscal cliff.”


“The reality is given that the U.S. government is now closed for the holiday break the likelihood of anything other than soothing procrastination is highly unlikely much before the Jan. 1 deadline,” said Michael Hewson, senior market analyst at CMC Markets.


Most markets across Europe were only open for half a day and will only re-open again on Thursday. German markets, and others, were closed for Christmas Eve.


Among those that were open, Britain’s FTSE 100 index of leading British shares closed up 0.2 percent at 5,954.18 while the CAC-40 in France was down an equivalent rate at 3,652.61.


Wall Street was poised for falls at the open in what will also be a holiday-shortened trading day — both Dow futures and the broader S&P 500 futures were down 0.3 percent.


Doubts over the progress of discussions prompted a fairly sizeable sell-off last Friday though many analysts still think there will be agreement on some sort of short-term measures.


“Even if this stopgap measure is implemented it may not be enough to prevent unwanted volatility in equity markets going into 2013 as investors try and assess the adverse impact on the U.S. economy,” said Neil MacKinnon, global macro strategist at VTB Capital.


As well as monitoring developments in the U.S. over the coming days, investors will be keeping a close watch on what’s going on in Italy ahead of a general election in February.


Over the weekend, outgoing Prime Minister Mario Monti indicated that he would be willing to return to the role if pro-reform parties back him.


Over the past year or so, Monti and his technocratic government have won plaudits in the markets for their economic reforms and efforts to get a grip on the country’s borrowing. Italy has the second-highest debt burden among the 17 EU countries that use the euro. Only Greece’s is higher.


Earlier in Asia, Hong Kong’s Hang Seng, closed up 0.1 percent at 22,531.51 while South Korea’s Kospi rose less than 0.1 percent to 1,981.82. Japanese markets were closed for the Emperor’s birthday holiday.


Other financial markets were subdued too. In the currency markets, the euro was up 0.2 percent at $ 1.3224 while the benchmark New York oil price was down 16 cents at $ 88.50 a barrel.


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New Zealand level series thanks to Guptill century






EAST LONDON, South Africa (Reuters) – A brilliant, unbeaten century from opener Martin Guptill led New Zealand to an eight-wicket victory off the final ball against South Africa in the second T20 international on Sunday.


Chasing 169 for victory in 19 overs at Buffalo Park, Guptill helped erase the memory of Friday’s embarrassing capitulation to 86 all out in Durban with a stunning batting display as the tourists reached their target for the loss of just two wickets to level the series 1-1.






Requiring 39 from the final four overs and 11 off the last, Guptill was on 97 and needing four for victory when Rory Kleinveldt bowled the final delivery – a low full toss which was eased away through extra cover.


Guptill’s unbeaten 101 was just the third T20 international century by a New Zealander, the first two belonging to captain Brendon McCullum who was almost anonymous with 17 from 15 balls during a second-wicket partnership of 73 with Guptill.


The right-handed opener was similarly dominant during an opening stand of 76 with Rob Nicol (25) as he drove the Proteas attack impeccably straight and displayed the skills – and patience – so obviously missing from the New Zealand batsman in Durban.


Captain Faf du Plessis led from the front once again as South Africa posted a competitive 165-5 in 19 overs after losing the toss and being asked to bat first.


Du Plessis paced his innings to perfection on a tricky pitch to reach 63 from 43 balls with eight fours and a six in a match reduced to 19 overs per side following a 52-minute floodlight failure.


The deciding match takes place in Port Elizabeth on Wednesday.


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Atheist Kids and Bullying: Just an Xbox and a Football Game Away From Redemption






I’ll never forget the year my eight-year-old daughter came home from school saying she got in trouble for going to the bathroom.


“I was afraid,” she said, “that the devil was coming out of the mirror to get me…. I wanted Aya to stay with me until I was done.”






Like any parent, I sat her down and asked her to tell me why she would ever think a mirror could spawn something as terrifying as that.


“Susie told me because I didn’t believe in god, the devil was coming to take my soul.”


MORE: Bullying the Bullies: What to Do to Save the Next Amanda Todd


“Susie” as we’ll call her, was a fellow eight-year-old student at my daughter’s Catholic school. Susie attended church every Sunday with her family—the same church that many of her classmates to this day all go to.


Was my daughter being bullied for being an atheist? I quickly dismissed it. After all, these were only eight-year-old girls, and it wasn’t like we talked about god hating with our morning cereal.


I soon noticed a new pattern of my daughter: She wouldn’t enter a bathroom without a friend or parent and began wetting the bed at night for fear of our extensive collection of bathroom mirrors pulling her into almighty hell at 2 a.m.


Sure enough, the religious eight-year-old was still pressuring my daughter to consider her morality, spirituality and reason for living daily in the school bathroom.


“When the child goes to school, and encounters for the first time other kids who don’t believe the same thing, whether it’s no belief or a different belief system, that can rock a kid’s world.”


I got on the phone and made sure the principal was aware of the bullying, that the child was reported and that my daughter would hopefully make the choice not to play with her anymore. The school thought I was a little crazy. Bullying was getting punched in the stomach in a dark place behind the school, not a little girl being taunted for not believing she was going to have life eternal. This was a new place they were afraid to gain control of. The principal, a former nun, kept a tight lip.


According to the American Society for the Prevention of Cruelty to Children, every day “an estimated 160,000 students in the U.S. refuse to go to school because they dread the physical and verbal aggression of their peers. Many more attend school in a chronic state of anxiety and depression.”


Courtney Campbell, Professor of Religion and Culture at Oregon State University, says he encountered the same case with his own children who were told at a very early age by some of their “friends” that they were “going to hell.” Though there were no physical beatings, the “psychic bullying” may have been worse.


“There is a phenomenon of religious-bullying at an early age, though in my own view/experience with raising my kids, it’s less of an issue than lookism [obese kids], size [‘big’ bullies], or gender, or clothes, or any of a number of things that kids do to manifest power over others,” says Campbell.


He points out that in most conservative/evangelical/fundamentalist Christian traditions, kids are taught at a very early age in their Sunday schools or summer bible camps that there’s only one path to happiness and salvation. That teaching, absorbed at a young age, is on its own rather threatening to the child.


“When the child goes to school, and encounters for the first time other kids who don’t believe the same thing, whether it’s no belief or a different belief system, that can rock a kid’s world,” Campbell adds.


Blame it on fear, maybe a calling out of one’s most sacred and learned family beleifs, but this form of push and shove is only getting more sophisticated.


Rachel Wagner, Associate Professor for the Department of Philosophy and Religion at Ithaca College and author of Godwired: Religion, Ritual and Virtual Reality, says we are overlooking a major player of the religious bullying model—video games.


“If we compare video games to rituals as similar kinds of interactive experiences that are meant to shape how we see ourselves and others in the world, then we can argue something more basic—that video games (like rituals) can teach people habits of encounter—and offer youth deeply problematic models of encounter with difference,” says Wagner, who adds that in her next book, she’ll argue that religion has always had the ability to be “played” like a game, a religious encounter she coins “shooter religion.”


While Wagner admits it’s very important to remember that all world religions also have “deep and abiding practices urging compassion, understanding, tolerance, and social justice,” in today’s media-soaked society, feeling the need to retreat into a simpler world where people can be reduced to camps can be terribly tempting.


Stacy Pershall, author of Loud in the House of Myself: Memoir of a Strange Girl, says that growing up in Prairie Grove, Arkansas, in an athletics-focused, Christian bible belt, she was used to being surrounded by “Jesus talk.”


Pershall, who was bullied for being a “strange girl,” when young, unathletic and atheist to boot, now works and empowers high school and college students as a writing teacher and mental health speaker.


“Although it still makes my heart pound a little to stand in front of a crowd and admit that I don’t believe in god (as I recently did at Catholic University in D.C.), somebody needs to do it. I get to be the adult who says to kids, ‘I’m an atheist, I have morals, I have friends, I’m happy, and I care about how you feel.’ That’s a wonderful, powerful thing. I get to tell bullied kids who might be considering suicide that they’re not alone, and that they have kindred spirits. It’s what the Flying Spaghetti Monster put me on Earth to do.”


Were you ever bullied? Leave what you were bullied about in COMMENTS.


These are solely the author’s opinions and do not represent those of TakePart, LLC or its affiliates.


Related Stories on TakePart:


• 5 Things to Keep in Mind About Bullying


• A Bully’s Paradise: Hidden Halls, Dark Corners and No Supervision


• Mother Bullied to Abort Unborn Twins?



Amy DuFault is a writer and editor whose work has been published in EcoSalon, Huffington Post, Ecouterre, Organic Spa, Coastal Living, Yahoo!, The Frisky and other online and print publications. In addition to being a former co-owner of an eco-boutique, she coaches and connects the sustainable fashion community to feed her soul. She also dreams of singing in an all-girl punk band even though she has stage fright. @amytropolis | TakePart.com


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Nick Cassavetes Sued For Allegedly Stiffing Twin Canadian Pop Duo on $300K Movie Loan






LOS ANGELES (TheWrap.com) – Nick Cassavetes, Canadian twins and incest – besides three phrases that you probably didn’t expect to read in the same sentence today, they’re also elements of a bizarre new lawsuit that hit the California court system this week.


In a lawsuit filed Tuesday in Los Angeles Superior Court, TwinSpin music – home to twin Canadian pop duo Carmen & Camille – claim that “The Notebook” director failed to pay back a $ 300,000 loan to help make the upcoming drama “Yellow.”






The complaint alleges that the writer-director backed out of an agreement to give the duo parts in the movie and to feature a song of theirs in the Sienna Miller-Ray Liotta film.


The film chronicles a woman who’s addicted to pain pills and is fired from her teaching job for engaging in sexual shenanigans on school grounds. Oh, and she also had a love affair with her brother at one point. According to the suit – which also includes TwinSpin manager John Thomas as a plaintiff – TwinSpin and Cassavetes entered into an agreement in September 2010, in which TwinSpin would loan Cassavetes $ 300,000 to start production on the film.


In return, the suit says, Cassavetes agreed to pay the loan back with interest – for a total of $ 345,000 – the next month. Cassavetes also agreed to cast the duo in speaking roles in the film, use a song of theirs on the soundtrack, and to give Thomas a producer’s credit, the complaint claims.


But the money never came, the suit says – and neither did the roles, the song and the credit, without which the loan never would have been given.


“But for these representations, Plaintiffs never would have entered into the Loan Agreement or otherwise granted the Loan,” the lawsuit reads. “Plaintiffs are informed and believe that Cassavetes never had any intention of casting ‘Carmen & Camille’ in the Picture, or featuring a song by ‘Carmen & Camille’ in the Picture, of providing the producer credit to plaintiff Thomas, or of repaying the loan on a timely basis.”


Cassavetes’ agent has not yet responded to misrepresentation request for comment.


Alleging breach of contract, breach of covenant of good faith and fair dealing, fraudulent misrepresentation and negligent misrepresentation, the suit is asking for damages of $ 500,000, the amount that the plaintiffs believe is currently owed to them by Cassavetes, with accruing interest.


(Pamela Chelin contributed to this report)


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Meanwhile, Deep Inside Your Belly Button …






Dec 23, 2012 7:00am



5846e  gty belly button jt 121222 wblog Meanwhile, Deep Inside Your Belly Button …

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Reported by Dr. Amish Patel:


Researchers have found that more than 2,000 different species of bacteria live in our umbilicus – the medical word for belly button.  That means you have more kinds of bacteria in your belly button than there are different kinds of ants or birds in North America, according to the study.


The majority of these bacteria were rare and occurred in just one individual.  No single type was common to all 60 belly buttons sampled.


“I don’t find it alarming,” said Dr. William Schaffner, an expert in infectious diseases at Vanderbilt University Medical Center in Nashville, Tenn.  “We knew belly buttons weren’t sterile.”


However, Schaffner believes that this does not minimize the study’s findings.


“This is in the context of a much larger study, which is trying to … get greater insight into the source of pathogens and how the [bacteria on our body] changes with antimicrobial therapy and age.”


Perhaps, he said, we can “use this to develop new antimicrobials.”


The benefits may extend beyond antibiotics.


“Understanding the biodiversity of our bodies and how it differs among people may play an important role in understanding why some … people are susceptible to the same pathogen or respond to the same drug or diet,” said Dr. Rob Knight, associate professor of molecular biophysics at the University of Colorado – Boulder.


Although the findings of the study do not have any immediate implications, this is good timing for a public service announcement from Dr. Gregory Poland, infectious disease expert at the Mayo Clinic in Rochester, Minn.


“The current fad of women piercing their umbilicus has led to many case reports of infections,” Poland said. “And with today’s multiple drug-resistant bacteria, it can lead to disasters.”



SHOWS: Good Morning America

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China and India: The $10 Trillion Engine of Future U.S. Growth






My friend and colleague Michael J. Silverstein, writing in this space in late October, mentioned that the most dangerous thing about China is America’s misguided attitude toward the country. In short, we appear to be afraid of China’s success.


The U.S. has never before run from a challenge. This is the wrong time to start.






As Silverstein and his co-authors—Carol Liao, David Michael, and Abheek Singhi—point out in their new book, The $ 10 Trillion Prize, one of the reasons many Americans feel threatened by China is they don’t know a lot about the country. What they do “know,” by and large, is what they’ve been told by politicians and others who accuse China of stealing U.S. jobs.


Yes, many low-skill, low-wage U.S. jobs have moved elsewhere, in many cases to China. Yes, many low-cost, mass-produced products that used to be made here are now being made there, and in other low-cost countries, such as India, Indonesia, Malaysia, Mexico, Thailand, and Vietnam. And, yes, many of those jobs will never come back.


But as China and the other developing countries grow, they also become potential customers for U.S. goods and services, from corn and soybeans to automobiles, commercial jetliners, heavy machinery, construction and farm equipment, and banking, investment, and insurance services, to name just a few.


It wasn’t that long ago that the prevailing American vision of the Middle Kingdom was that of millions of mindless peasants marching in automaton-like lockstep to the orders of the party bosses. They led lives of drudgery, on collective farms, toiling for mere survival. Everybody dressed like Chairman Mao. Dissent was met with tanks. And it wasn’t that long ago that that may have been accurate in some respects.


But China today, as Silverstein and his co-authors make clear, is a booming multiclass society with hundreds of millions of people who want nothing more than their own version of the American Dream: a nice home, a quality car, a good education for their children, appliances and conveniences, better health care, stylish clothes, more time for travel and leisure. In short: a better life for the next generation than the current generation enjoyed. The same is true in India.


The authors visited with and tell the stories of dozens of Chinese and Indian families and entrepreneurs who are striving for the same things Americans want—and for the first time in their lives, they have the money to get them.


My colleagues have calculated that between 2010 and 2020, Chinese and Indian consumers will spend some $ 64 trillion on goods and services. Chinese consumers will spend approximately $ 41.5 trillion, with annual expenditures reaching more than $ 6 trillion in 2020. Indians will spend $ 22.5 trillion, with annual spending hitting an estimated $ 3.6 trillion by 2020. Combined, they will be spending some $ 10 trillion per year by 2020—more than three times what they spent in 2010.


That’s what U.S. politicians and business leaders should be talking about: the promise of China and India as engines of future U.S. growth. That’s the prize the book is about.


China and India today show the kind of unbridled optimism that used to be the hallmark of America. Many Chinese and Indian entrepreneurs expect their companies to grow by factors of 10 over the next decade.


Rather than fear such growth, Americans should embrace it, wish them well, and make sure our businesses, farms, and factories are prepared to meet their needs.


Businessweek.com — Top News





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3-day trip becomes 3-week ordeal for 2 Jamaicans






SAN JUAN, Puerto Rico (AP) — It was supposed to be a three-day fishing trip at most. It turned into a three-week ordeal, drifting under an intense sun for hundreds of miles in the Caribbean in a small boat with a broken motor.


The two Jamaican fishermen survived by eating raw fish they caught and drinking water from melted ice they had brought to preserve their catch. The Colombian navy finally plucked them from the sea a week ago and delivered them home Saturday after treating them for severe dehydration, malnutrition and hypothermia.






Everton Gregory, 54, and John Sobah, 58, recounted their story in a telephone interview from Jamaica, while the boat owner and the men’s employer also provided details.


The men set off from Jamaica’s southeastern coast on Nov. 20. The water was glassy, the wind was calm and their boat was laden with 14 buckets of ice, 16 gallons of water and several bags of cereal, bread and fruit.


They headed to Finger Bank, a nearby sand spit 8-miles-long (13-kilometers) that is known for its abundance of fish like wahoo, tuna and mahi mahi. The owner of the 28-foot (8-meter) boat said she usually joins them on fishing trips, but she couldn’t go that afternoon.


After spending a couple of days around Finger Bank, the two men set off for home with their catch. But the boat’s engine soon died. The water was too deep to use the anchor and the current too strong to use the oars, so the boat slowly drifted away from Jamaica.


At first, the men got by on sipping the water and eating the food they brought with them. But days turned into weeks, and they began to eat the fish they had caught and drink the melted ice that had kept it fresh.


Gregory and Sobah kept eating raw fish and used a tarp to try to collect water, but the rain clouds remained at a distance.


Back home, friends and family called police and used their own boats to search the area where the men were last seen. The two fishermen work for the Florida-based nonprofit group Food for the Poor, which chartered a plane to search along Jamaica’s coast.


Marva Espuet, the owner of the boat, said she knew she had packed it with more food and water than needed for a three-day trip, but the thought provided little relief.


“If I had gone, there would have been two boats going,” said the 52-year-old woman, a longtime friend of both fishermen.


With searches proving fruitless, Sobah’s niece grew frantic, recalled Nakhle Hado, a fishing manager for Food for the Poor who helped lead the search. She “begged me that she wanted John back for Christmas,” Hado said.


Hado said some people believed the two men would never be found, but he and others didn’t give up. “My gut was telling me that they were still alive,” he said.


Hado said he had trained Gregory and Sobah on how to survive at sea.


“In case something happens, they don’t have to think twice. They know how to react,” he said. “It’s very important, their mental state.”


Gregory and Sobah finally ran out of fresh water and went several days without drink. A healthy human being can die from dehydration anywhere from three to five days without water.


Then on Dec. 12, a Colombian navy helicopter patrolling off the coast of that South American country spotted the men near Lack of Sleep cay, more than 500 miles (800 kilometers) from where they started. It took two days for a navy vessel to reach them because of bad weather. The men were hospitalized for several days at the Colombian island of San Andres before boarding a plane back home to Jamaica.


“It feels good,” Sobah told the AP in a brief phone interview after arriving.


Gregory said he had lost hope, but Sobah tried to keep him positive that they would be rescued. “I just had that belief,” Sobah said. “I believe in the Creator.”


Yet it is Gregory who plans to keep fishing despite the ordeal because he needs the job.


Sobah said he’s done. “I’m not going to go fishing again. No way.”


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News summary: Nintendo’s TVii replaces the remote






TVii LAUNCH: Nintendo if flipping on its TVii service Thursday, a month after sales started for its Wii U game console. The service turns the GamePad controller into a TV remote control, channel guide and Web video surfer.


SALES HOPES: Nintendo hopes the free service boosts sales of the console after recording 425,000 sales in the first week since its Nov. 18 launch.






HEAD START: It’s the first time a game console maker has put live TV controls into a device, but analyst Michael Pachter says competitors will copy the function soon.


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Ridley Scott, Paul Attanasio Working on “Vatican” Pilot for Showtime






LOS ANGELES (TheWrap.com) – Showtime is once again preparing to go papal.


The network, which already has a Pope-centric hit in the form of “The Borgias,” has given the green light to pilot tentatively titled “The Vatican,” from Ridley Scott and Paul Attanasio, Showtime said Thursday.






A contemporary exploration of the politics and power plays within the Catholic church, “The Vatican” will be written by Attanasio and directed by Scott, marking the first pilot that Scott has directed.


“The Vatican” is described as “a provocative contemporary genre thriller about spirituality, power and politics – set against the modern-day political machinations within the Catholic church” that will “explore the relationships and rivalries as well as the mysteries and miracles behind one of the world’s most hidden institutions.”


Production on “The Vatican,” which is being produced by Sony Pictures Television in association with Showtime, will begin next year.


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Spectrum Pharma’s blood cancer drug meets goal in mid-stage trial






(Reuters) – Spectrum Pharmaceuticals Inc said a mid-stage trial of its experimental blood cancer drug met the main goal of shrinking tumors.


The drug, belinostat, was tested in patients with relapsed/refractory peripheral T-Cell (PTCL) lymphoma, who have failed at least one therapy.






The biotechnology company said it expects to file a marketing application with U.S. health regulators by mid-2013, and expects a review date in 2014.


Belinostat was granted orphan-drug status and fast-track status by the U.S. Food and Drug Administration for PTCL.


Spectrum‘s shares, which have fallen about 22 percent in the last year, closed at $ 11.30 on the Nasdaq on Thursday.


(Reporting By Vrinda Manocha in Bangalore; Editing by Don Sebastian)


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