All posts by Mohammed Haider Ghuloum

Dr. Mohammed Haider Ghuloum: trained as an economist, been called a few other names..... الشرقية للبنين- المتنبي- ثانوية الشويخ

The JPMorgan Dimon Model: Screw Up, Get a Raise……….

      


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“JPMorgan’s board voted to raise Chief Executive Jamie Dimon’s annual compensation for 2013, a turnaround from last year when it slashed his compensation by half in light of a trading debacle, the New York Times reported. A series of meetings to formulate the pay package turned heated at times, with vocal minority of directors wanting to keep Dimon’s compensation largely flat, citing about $20 billion in fines the bank paid in the last year to federal authorities, the paper said………………”

So, this is new age banking: break the law, cause your bank to pay $20 billion in fines. And get a raise.

Cheers
mhg

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A Syrian Caesar on the Crossing of another Rubicon toward Geneva……….

      


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“The bodies he photographed since the civil war began, showed signs of starvation, brutal beatings, strangulation, and other forms of torture and killing. The defector who was codenamed “Caesar” by the inquiry team had, during the course of his work, smuggled out some tens of thousands of images of corpses so photographed by his colleagues and himself. “Caesar” did not see the torture or executions himself, but photographed the bodies afterward. The report explains, “The reason for photographing executed persons was twofold: First to permit a death certificate to be produced without families requiring to see the body thereby avoiding the authorities having to give a truthful account of their deaths; second to confirm that orders to execute individuals had been carried out.” That is to say, the Baath officials who ordered these 11,000 executions of prisoners of war were afraid that prison guards would take bribes to release the prisoners and just report them dead………….”

In the summer of 2011 I thought the Libyan revolt was becoming a lengthy civil war like Spain. But that was before NATO, Bernard-Henri Levy, John McCain, Qatar, and the UAE intervened to liberate that country. I have also compared the Syrian civil war to the Spanish Civil War of the 1930s. Syria is almost as ugly as Spain was in those years, almost. I have compared the two wars in the past, in an older post in 2011 here and then in another post in 2012 here. There was also another one with the same theme last year. But Spain was not a sectarian war, it was an ideological rehearsal for World War II.
Both
sides in Syria have committed atrocities. But the regime almost certainly does it on a much larger scale than the opposition, simply because it has more destructive weapons and more prisons at its disposal, as well as more security agents. And, like all established Arab regimes, it has a more efficient bureaucracy of repression. The regime has a long history as a police state, while the opposition groups are just beginning, already aspiring to start their own future police state, no doubt using the experience of its Arab supporters and Wahhabi allies. The opposition militias have killed less, but they probably aspire to kill many more (of regime supporters and people of other faiths).
Still, one hell of a timing for this so-called Caesar to cross the Rubicon now while the Geneva talks are in session. One thing about the Syrian opposition and their supporters: they know how to time their ‘exposés‘ and leaked photos and videos for maximum effect.

Cheers
mhg

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Pop-History? the Invention of Jews and Ashkenazi Arabs…………

      


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This writer, Jihad Al Khazin writes for Al-Hayat, the Saudi daily newspaper owned by Prince Khaled Bin Sultan (funny how Western media call it an ‘independent pan-Arab’ daily). He refers to Arthur Koestler’s Thirteenth Tribe (a book I have not read) and speculates that the Ashkenazi Jews did not originate in historic Palestine, but were converts, originally a people of the Caucasus who claimed they were Jews in order to avoid persecution. (I must admit that is a cute one, a first, a real change, claiming to be Jewish to AVOID persecution). He also says there are no monuments or traces of any ‘fake’ Jewish prophets or kingdoms in Palestine. Then he oddly adds that he heard all the details from a student at Georgetown University, which presumably makes it like some sort of a gospel.

All this about the origins of some Jews may be of some historic interest, but it is of course quite irrelevant as far as the politics and facts (and fiction) of the Palestinian-Israeli issue are concerned. It is not the ‘race’ that matters. Many current Iraqis and Syrians and Egyptians and other “Arabs” including Palestinians are not of Arab origin either. Many Arab tribes were originally foreigners who emigrated to places like Iraq and Syria and Egypt after the Muslim conquests. It is not the blood, stupid; it is the culture and belonging, stupid.

This interesting piece was reproduced in Alarabiya (Arabic) website from al-Hayat.

Cheers
mhg

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King Congratulates Egyptian President Zombie on Referendum……..

      


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Alarabiya reports that Saudi King Abdullah Bin Abdulaziz Al Saud has congratulated the military-appointed interim Egyptian President Adly Mansour Al Zombie on the success of the ‘results’ of the referendum on the new constitution.
The Servant of the Two Holy Shrines assured President Al Zombie that the referendum reflected the unity of the Egyptian people as reflected by the results which reflected the free will of the people. Alarabiya reports all that wisdom was in a telegram sent by the king to the Egyptian president. The king, however, did not promise to hold similar free referendums in Saudi Arabia and Bahrain. Not yet.
Can you believe all this gavno about free will and popular unity (or was it free unity and popular will)? And don’t these guys believe in text-ing these days? I mean it can’t be any more expensive than a telegram.

Cheers
mhg

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Thank You for Your Service? Coming to a Desert Near You: Robotic Sad Sacks………

      


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“The US Army is studying whether robots could take the place of thousands of soldiers. The US Army is considering replacing thousands of soldiers with robots as it deals with sweeping troop cuts. A senior American officer has said he is considering shrinking the size of the Army’s brigade combat teams by a quarter and replacing the lost troops with robots and remote-controlled vehicles. The American military is still far from fielding armies of Terminator-type robotic killers ……………………..”

Send Arnold Schwarzenegger out with them, that would be one way to FINALLY get rid of him. Out of sight out of mind.
How do you tell a dented damaged veteran robot: “thank you for your service” before leaving it out in the cold? You don’t: you can always recycle IT.
You know what will happen next, we have seen a version of this film before. Just like drones, every other nation will aspire to make their own robots or buy some, and many will succeed.
Finally a war without human casualties.
Cheers
mhg

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HH Shaikh Khalid bin Hamad Al Khalifa Endurance Championship……….

      


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“HH Shaikh Khalid bin Hamad Al Khalifa Endurance Championship will kick off at 7 am tomorrow (Saturday) in Bahrain International Endurance Village. Bahrain Royal Equestrian and Endurance Federation BREEF announced that the veterinary examinations for the 120 km and 84 km (qualifying) races were successfully completed today. The examinations were conducted by international experts and was attended by the Vice-President and Prime Minister of the United Arab Emirates UAE and Ruler of Dubai HH Shaikh Mohammed bin Rashid Al Maktoum and the Chairman of the Supreme Council for Youth and Sport, President of Bahrain Olympic Committee and Bahrain Royal Endurance Team Captain HH Shaikh Nasser bin Hamad Al Khalifa……………..”
 

Now
ain’t that nice? I thought some of my readers might like to know about this. Chalk it up to ‘culture’ or ‘shaikhdomness’ or larceny, or genteel crimes against humanity in doses of tear gas and home raids and torture. With a large dose of apartheid thrown in. Take your pick.

This dude Nasser is a younger son of the ruler, younger than the crown
prince who is now long in the tooth. Apparently reportedly he is likely from a
younger wife of the ruler, allegedly preferred by the Saudi overlords of
Bahrain to the crown prince. The crown prince is seen as ‘soft’ on the
opposition, maybe because he wears glasses and is beardless and occasionally acts as if he wants to meet with them. The young Nasser looks predatory, with a sharp face, more hungry-looking: not the kind you’d want to go mountain-hiking with, and if you do you’d be advised to steer clear from any cliffs or steep drops. The opposition claim he has nothing against the torture of  detainees.
As long as he is not on the receiving end.
All allegations, of course. I have never met the guy, but I still would not go mountain-hiking with him.


Cheers
mhg

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From the People’s Republic that Mao Built to an Oligarchy………

      


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“More than a dozen family members of China’s top political and military leaders are making use of offshore companies based in the British Virgin Islands, leaked financial documents reveal. The brother-in-law of China’s current president, Xi Jinping, as well as the son and son-in-law of former premier Wen Jiabao are among the political relations making use of the offshore havens, financial records show………. The Hong Kong office of Credit Suisse, for example, established the BVI company Trend Gold Consultants for Wen Yunsong, the son of Wen Jiabao, during his father’s premiership — while PwC and UBS performed similar services for hundreds of other wealthy Chinese individuals. The disclosure of China’s use of secretive financial structures is the latest revelation from “Offshore Secrets”…………China’s rapid economic growth is leading to a degree of internal tension within the nation, as the proceeds of the country’s newfound prosperity are not evenly divided: the country’s 100 richest men are collectively worth over $300bn, while an estimated 300m people in the country still live on less than $2 a day……………”

Cheers
mhg

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Pope Francis and the Fat Well-Fed Hungry Men (and Women) of Davos………

      


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“Pope Francis on Tuesday called on the world’s political and business elite gathered in Davos to use their spirit of entrepreneurship to alleviate crushing global poverty. In a message read out at the opening ceremony of the annual World Economic Forum, Francis said: “Those who have demonstrated their ability to be innovative and for improving the lives of many people by their ingenuity and professional expertise can further contribute by putting their skills at the service of those who are still living in dire poverty.” It is “intolerable” that hunger continues to stalk the world even though “substantial quantities” of food are wasted, the pontiff added. Ahead of the annual meeting of the global elite that ends Saturday, the charity Oxfam issued a report that said inequality had run so out of control, that the 85 richest people on the planet “own the wealth of half the world’s population.”……………………”

The Pope is right in this case of course. But the men and women meeting in Davos, and those groupies who hang around the periphery, sort of like the IMF-World Bank meetings that I used to attend, are also hungry. Their hunger in Davos is not for food, for I know they are well-fed and well-wined and dined (actually overfed and almost certainly over-wined).
 

I here posted on Davos 2013. Here is an excerpt of that post:

‘”Big
firms no longer aspire merely to train competent managers. They pride
themselves on their ability to select and train leaders for global
roles………. Many of the bankers and politicians caught dozing by the
financial crisis were regulars at Davos. Ordinary folk trust Davos Man
no more than they would a lobbyist for the Worldwide Federation of Weasels……………..”

Also
sprach The Economist,
for once not gushing over the sanctimonious potentates, glib bankers,
my fellow economists, and celebrities converging on Davos.

It is where leaders, potentates, economists, banksters, celebrities, self-styled
celebrities, minions, journalists, and groupies converge. I have been always
skeptic of this gathering: it could just be sour grapes. But I have been even more
skeptic, nay hostile, about it these past four or five years.

Some
shameless bankers and investment banksters are there pontificating to the financial
media about how the economy should be managed. They who managed their banks and
investment banks into near oblivion and had to get public welfare to save their
fat annual bonuses. Banker-Panhandlers with a sense of entitlement, with an attitude, panhandlers with the
Mother of All Attitudes…..’

Cheers
mhg

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Syria: the Strange Ban Ki-Moon Geneva Rollercoaster Ride, Hollande’s Polygamy………..

      


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A strange series of events regarding the Syrian civil war this past weekend:

  • Late weekend United Nations Secretary General Ban Ki-Moon gives a presser and invites Iran to attend the Geneva talks on Syria, surprising some of the “Friends of the Syrian Opposition”.
  • The Obama Administration professes surprise and sort of objects strongly, only sort of.
  • Saudi princes and other potentates object strongly but not openly.
  • Their proxy Mr. Al Jarba objects (he calls himself, I think rather presumptuously, @PresidentJarba on Twitter). Opposition groups and militias and gangs and kidnappers threaten to boycott the meeting and keep Assad in power for five more years.
  • Mufti Shaikh Al Al objects, or he should if he knows what is good for him. But he declines to issue a fatwa.
  • The Israelis probably object on the principle that whatever helps Iran is bad for them, and vice versa. Or maybe I just think so, my knee-jerk reaction.
  • Al Qaeda and its Syrian fronts also object, or so I assume. 
  • Francois Hollande of France probably also objects, as does his current main squeeze, his former main squeeze, and his future main squeezes (the French can be more polygamous than we can be, and often they are, but they don’t admit it).
  • My suspicious mind is almost certain that the prime minister of Bahrain (44 or so years in office and going) also objects strongly through his corpulent foreign minister who is also his nephew or cousin. I still can’t figure out WTF he has got to do with all this.
  •  
  • So, guess what happens next? Bingo! Ban Ki-Moon suddenly implodes: he discovers overnight that maybe Iran should not attend Geneva. He withdraws his invitation for Iran to the Geneva meeting on Syria. A dis-invitation under pressure.
  • The Iranians, who would love to attend, act as if they are not interested in attending. They go further: after being dis-invited they claim that that they would not attend a meeting
    that imposes conditions and prerequisites on them.

  • Saudi semi-official Alarabiya headlines that now the Syrian ‘opposition’ groups will attend Geneva, some of them for the talks, others to buy good Swiss chocolate at duty-free prices. Actually they would attend or not if and when their Saudi bosses tell them to.
  • End of the story for now, until the next Syria meeting later this year. Or maybe sometime next year, or the year after.

Cheers
mhg

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Vice President of Syrian National Coalition: SNC to Attend Assad’s Funeral in Montreux………

      


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“The main Syrian opposition group in exile promised on Saturday that it will not “compromise” its principles after it finally decided to attend the peace talks in Switzerland next week. “We will go to Geneva 2 without compromising any principles of our revolution,” Ahmed al-Jarba, head of the Syrian National Coalition, told reporter in a press conference in Istanbul. Jarba said that President Bashar al-Assad’s regime will “enter its funeral,” when attending the conference……………”

Mr. Jarba is going to Geneva because he was told to do so by his foreign bosses. He can’t help using Baathist jargon (mainly Iraqi Baathist jargon like the talk about ‘funerals’, etc)) when talking about the regime, but that comes from a lifetime of growing up listening to them.
 
He now calls himself ‘President Jarba’ on his Twitter account @PresidentJarba), something that might piss off a certain Saudi prince as well as Bashar Al-Assad and many opposition militia commanders. He is actually the vice president of the Syrian National Coalition (SNC), representing only some of the Syrian opposition, especially part of the Saudi faction, but hardly all of it. Everyone knows that the SNC has a king and a president, neither of whom is named Jarba. That the king of the Syrian National Coalition is named Abdullah Bin Abdulaziz, that the ‘president’ of SNC is Prince Bandar Bin Sultan Bin Abdulaziz Al Saud.

Bandar’s lifelong ambition now is to liberate Syria for Saudi-style freedom and democracy and tolerance and human rights. That might be opposite to the Iranian and Russian ambition which is also to keep Syria for their own style of freedom and democracy and human rights. Both goals are also different from the ambition of French president Francois Hollande who doesn’t give a rat’s derrière about Syrian freedom but whose goal is to keep the Saudis buying weapons and other goods from socialist France in the name of freedom and democracy and human rights, as well as ‘liberté, égalité, infidélité’.
All this means that the Syrian people are now trapped into an unprecedented sectarian confessional regional proxy war, which means they are now truly screwed, more than ever.

BTW: don’t hold your breath about Geneva (actually Montreux). There will be no agreement of course; it is a place to see and to be seen. Perhaps there may be only a deal to meet again in, say, six months which will be extended to nine or twelve months.
Cheers
mhg

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