Wealth Divide Puts Globalization at Risk: Davos Report

Wealth Divide Puts Globalization at Risk: Davos Report

A backlash against rising inequality—evident from the Occupy movement to the Arab Spring—risks derailing the advance of globalization and represents a key threat to economies worldwide, according to the World Economic Forum…

Copyright 2012 Thomson Reuters.

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US Debt: Obama, Lawmakers Seek to Salvage US Debt Deal – CNBC

US Debt: Obama, Lawmakers Seek to Salvage US Debt Deal – CNBC.

President Barack Obama met for less than an hour Saturday with congressional leaders in crisis talks, and a leading Republican said afterward that top lawmakers were “committed to working on new legislation” to cut federal spending and avert an unprecedented U.S. default.

“The president wanted to know that there was a plan for preventing national default,” Senate GOP leader Mitch McConnell said in a statement issued shortly after the brief meeting at the White House.

“The bipartisan leadership in Congress is committed to working on new legislation that will prevent default while substantially reducing Washington spending,” McConnell said.

House of Representatives Democratic leader Nancy Pelosi told reporters Saturday that Obama and congressional leaders are “definitely not” considering a short-term debt limit increase in their weekend negotiations to break an impasse.

A Senate Democratic aide told Reuters that congressional leaders have agreed their staffs would “work together throughout the weekend” to try to craft a deficit reduction bill to clear the way for a debt limit increase…

Landmark rooftop solar project to create thousands of jobs in 28 states

via Landmark rooftop solar project to create thousands of jobs in 28 states.

Bank of America Merrill Lynch, Prologis and NRG Energy secure an offer of a conditional loan guarantee commitment from Department of Energy.

Rooftop solar generation takes a giant leap forward as a consortium of leading companies – Bank of America Merrill Lynch, Prologis and NRG Energy – announce an offer of a conditional commitment from the U.S. Department of Energy’s Loan Programs Office to help finance the largest distributed rooftop solar generation project in the world. The loan guarantee supporting $1.4 billion of debt facilitates a total project size of about $2.6 billion, which is being financed entirely by the private sector over the next four years.

This distributed solar project will generate employment across 28 states and will create the equivalent of more than 10,000 full-year jobs. Once fully funded and completed, these installations are expected to provide approximately 733 megawatts (MW) of distributed solar energy, which is enough clean, renewable energy to power approximately 100,000 homes.

Wall Street at Night

‘A Rendezvous With Destiny’

Democratic National Convention, Philadelphia, PA, June 27, 1936

A Rendezvous With Destiny- Franklin Roosevelt Speech  ( full text)  (*Excerpt Below*)


(Excerpt)

President Roosevelt:
The brave and clear platform adopted by this convention, to which I heartily subscribe, sets forth that government in a modern civilization has certain inescapable obligations to its citizens, among which are protection of the family and the home, the establishment of a democracy of opportunity, and aid to those overtaken by disaster.

But the resolute enemy within our gates is ever ready to beat down our words unless in greater courage we will fight for them.

For more than three years we have fought for them. This convention, in every word and deed, has pledged that the fight will go on.

The defeats and victories of these years have given to us as a people a new understanding of our government and of ourselves. Never since the early days of the New England town meeting have the affairs of government been so widely discussed and so clearly appreciated. It has been brought home to us that the only effective guide for the safety of this most worldly of worlds, the greatest guide of all, is moral principle.

We do not see faith, hope, and charity as unattainable ideals, but we use them as stout supports of a nation fighting the fight for freedom in a modern civilization.

Faith – in the soundness of democracy in the midst of dictatorships.

Hope – renewed because we know so well the progress we have made.

Charity – in the true spirit of that grand old word. For charity literally translated from the original means love, the love that understands, that does not merely share the wealth of the giver, but in true sympathy and wisdom helps men to help themselves.

We seek not merely to make government a mechanical implement, but to give it the vibrant personal character that is the very embodiment of human charity.

We are poor indeed if this nation cannot afford to lift from every recess of American life the dread fear of the unemployed that they are not needed in the world. We cannot afford to accumulate a deficit in the books of human fortitude.

In the place of the palace of privilege we seek to build a temple out of faith and hope and charity.

It is a sobering thing, my friends, to be a servant of this great cause. We try in our daily work to remember that the cause belongs not to us, but to the people. The standard is not in the hands of you and me alone. It is carried by America. We seek daily to profit from experience, to learn to do better as our task proceeds.

Governments can err, presidents do make mistakes, but the immortal Dante tells us that Divine justice weighs the sins of the cold-blooded and the sins of the warm-hearted on different scales. Better the occasional faults of a government that lives in a spirit of charity than the consistent omissions of a government frozen in the ice of its own indifference.

There is a mysterious cycle in human events. To some generations much is given. Of other generations much is expected. This generation of Americans has a rendezvous with destiny.

In this world of our in other lands, there are some people, who, in times past, have lived and fought for freedom, and seem to have grown too weary to carry on the fight. They have sold their heritage of freedom for the illusion of a living. They have yielded their democracy.

I believe in my heart that only our success can stir their ancient hope. They begin to know that here in America we are waging a great and successful war. It is not alone a war against want and destitution and economic demoralization. It is more than that; it is a war for the survival of democracy. We are fighting to save a great and precious form of government for ourselves and for the world.

I accept the commission you have tendered me. I join with you. I am enlisted for the duration of the war.”

CNN TV and Web Special on Innovation (via Global Public Square)

CNN TV and Web Special on Innovation

Editor’s Note: The “Global Innovation Showcase” is a special feature created by the New America Foundation, a non-partisan, future-oriented think tank based in Washington DC, and the Global Public Square. Tune in tonight at 8pm ET/PT for a special edition of CNN GPS, “Restoring the American Dream: How to Innovate.” By Fareed Zakaria, CNN On October 4, 1957, the Soviet Union shocked the world by launching a tiny satellite, about the size of a beac … Read More

via Global Public Square