goodfellowsmansfield.com

Monday, April 27, 2015

A crowd of over 10,000 people attended the dawn service on Saturday at Gallipoli, Turkey for the 100th anniversary of the landing of Australian and New Zealand troops there in 1915. The solemn remembrance ceremony was held at the site of the original Gallipoli landings, now known as Anzac Cove.

The Gallipoli Campaign of the First World War is remembered as a failed attack in which thousands of lives were lost for little to no gain for either side. The campaign killed 45,000 Allied and 86,000 Turkish troops.

Attendees at the dawn service included Prince Charles, the Prime Minister of Australia, and the Prime Minister of New Zealand.

Australian Prime Minister Tony Abbott’s speech later in the day emphasised the importance of the day to Australians. “Like every generation since, we are here on Gallipoli because we believe the Anzacs represented Australians at their best. Because they rose to their challenges, we believe it is a little easier for us to rise to ours. Their example helps us to be better than we would otherwise be”, he said.

New Zealand Prime Minister John Key at dawn described Gallipoli as a symbol of the highest ideals of Australians and New Zealanders “especially when they work side by side in the face of adversity”.

Prince Charles stirred emotions by reading extracts from a serviceman’s diary. The diary entry, by Company Quartermaster Sergeant Benjamin Leane, was addressed to his wife and was written hours before the first Gallipoli landing.

The centenary milestone of Anzac Day also drew a Turkish security force of 3700, both police and paramilitary. Attendees entered past six security checkpoints.

A record 120,000 people also attended services at the Australian War Memorial in Canberra to commemorate the centenary.

Friday, October 10, 2008

Stock markets across the world have fallen sharply with several seeing the biggest drop in their history.

Asian markets saw the biggest sell-off. The Nikkei dropped 9.62% to reach a 20 year low. Japan also saw a collapse of a mid-size insurance company, Yamato Life Insurance Company, which declared bankruptcy. The Hang Seng, which was one of the few markets that was positive yesterday, fell 7.19%. Australia dropped by 8.4% and South Korea saw a 9% fall.

In Europe, markets dropped at the open with the FTSE losing 11%. They have recovered only sightly with all European markets losing more than 5%. The European sell off was more about the Asian lows then any specific news. European banks and financial institutes saw the most selling. Also, oil related companies saw large drops as an result of an expected decrease in oil consumption.

The U.S. markets opened lower with the Dow Jones Industrial Average falling below 8,000, before recovering slightly. President George W. Bush made an address on the economy and said markets were being “driven by uncertainty and fear.”

Oil has seen losses of more than US$6 in trading with the current price of a barrel of oil less than $80. This is a year low for oil. News also came out that OPEC will hold an emergency meeting on November 18 to discuss the falling price of oil.

Charities, such as Cats Protection, today said that they have lost much of their funds in collapsing banks. Cats Protection had a total of £11.2 million saved in the now-collapsed Kaupthing bank.

The British National Council for Voluntary Organisations said that 60 of its 6,500 have lost money due to the collapse of banks.

The Dow Jones Industrial Average fell to its lowest level in five years at 8,579.19, falling 679 points in one day. This, at 7.3%, is the eleventh largest percentage fall in the history of the index. The growth then continued, with the index being up over 150 points on the start of the day at one point.

The index, did however, recover, and as of 19:30 UTC was up 17.68 points, or 0.21%, pushing the index up to almost 8600.

Peter Cardillo, chief market economist at Avalon Partners, commented on these massive falls. “What we’ve seen here was one big margin call that just kept feeding on itself, so the opposite could happen. But you need a catalyst,” he said. “I’m more convinced now than ever that this market has made a bottom. The capitulation came when we breached 8,000,” he continued. “It doesn’t mean we can’t go back and revisit that level.”

The UK’s FTSE 100 index fell dramatically to close below 4000, in the index’s worst week in history. This is despite the fact that just a few days ago the index was above 5000, and the index peaked above 5500 in September.The FTSE 100 index has fallen by 41% this year.

Barclays Wealth analyst Henk Potts commented on this massive fall. “We are drowning in a sea of red numbers,” he claimed. “Investors are concerned about the exacerbation of the credit crunch and the gloomy forecasts for economic growth. The reality is that most investors have been spooked by the sheer pressure that the credit crunch is putting on the global economy.”

The Japanese Nikkei 225 has recorded it’s third biggest drop in history with a massive sell-off in the exchange that has resulted in USD 250 billion being knocked of the index’s value.

Toyota, which is the second largest carmaker in the world, fell by the largest amount in 21 years, while Elpida Memory, the world’s largest manufacturer of computer memory, dropped in value to a record low.

Masafumi Oshiden, a fund manager in Toyota commented on the drop.”It’s capitulation,” he said. “There are lots of forced sellers. If you’re a fund that’s going bust you need to close out all your positions.”

George W. Bush commented on the financial situation earlier today. “Over the past few days, we have witnessed a startling drop in the stock market — much of it driven by uncertainty and fear,” he said. “This has been a deeply unsettling period for the American people. Many of our citizens have serious concerns about their retirement accounts, their investments, and their economic well-being.”

Bush then continued by promoting the government’s plan’s to get through the crises. “Here’s what the American people need to know: that the United States government is acting; we will continue to act to resolve this crisis and restore stability to our markets. We are a prosperous nation with immense resources and a wide range of tools at our disposal. We’re using these tools aggressively.”

Gordon Brown, the UK Prime Minister, also spoke on the economy. “I think we quickly realised that we cannot solve the problems we have got as a result of the sub-prime market collapse simply by improving liquidity,” he said speaking in Birmingham to business leaders earlier today. “That would simply not be enough to deal with the bigger problem of rebuilding the banking system for the future and restoring trust is a fundamental element of that.”

Jim Flaherty, the Canadian minister for finance, also commented today on the recent incidents in the economy. “It is important to underline that Canada’s banks and other financial institutions are sound, well capitalized and less leveraged than their international peers,” he claimed. “Our mortgage system is sound. Canadian households have smaller mortgages relative both to the value of their homes and to their disposable incomes than in the U.S.”

“”However, it is becoming increasingly clear that the continuing disruption of global credit markets, which has been severe and protracted, is making it difficult for our financial institutions to raise long-term funding. This is beginning to affect the availability of mortgage loans and other types of credit in Canada,” he continued. “The Government has therefore decided to act to address the current scarcity of private sector lending to Canadian mortgage markets and lending markets overall. This is going to make loans and mortgages more available and more affordable for ordinary Canadians and businesses.”

Friday, February 19, 2010

On the popular social networking website Facebook, various groups commemorating disgruntled pilot Joseph Andrew Stack were formed on Thursday evening. Earlier that day, in what has been described as an act of “domestic terrorism,” Stack intentionally crashed his small passenger plane into an Internal Revenue Service (IRS) office building in Austin, Texas. Stack is one of two reported fatalities; the other is an IRS employee.

On the information page of the first group named “The Joe ‘Take My Pound Of Flesh’ Stack Anti-IRS Fan Page,” one administrator wrote, “[This page is] dedicated to a man, frustrated as so many of us are with our corrupt, inept government, sacrificed his life to make a statement. Will history see him as a patriot or terrorist? Depends on who is doing the writing.” This particular group had approximately 250 members.

Another group called “The Philosophy of Joe Stack” apparently came out against the attack, yet sympathized with its reasons: “This page is NOT to glorify his actions, but simply to say that after reading his note, we can agree with…Joe Stacks’ thoughts.” However, one member went as far to suggest that the United States “need[ed] a revolution” and “voting for a Democrat or a Republican is not revolutionary, it is big business as usual.”

A third group titled “Joseph Andrew Stack, we salute thee” was supposedly against violence towards others. One administrator did write, “We hope that everyone is okay and accounted for. It is our belief that his intention was not to hurt anyone, but just to prove a point.”

On the wall of a fourth group, known simply as “Joseph Andrew Stack,” creator Emily Walters of Louisville, Kentucky, wrote: “Finally an American man took a stand against our tyrannical government that no longer follows the constitution and is^[sic] turned its back on its founding fathers and the beliefs this country was founded on.”

“That so many have already contributed to Facebook page[s] as ‘fans’ of this terrorist attack on public servants is a truly appalling expression of extremism, which Americans will overwhelmingly reject,” Democratic Congressman Lloyd Doggett of Texas told The Politico regarding the creation and subsequent growth of said pages.

Facebook’s Statement of Rights and Responsibilities says that its users are prohibited from “post[ing] content that is hateful, threatening, pornographic, or that contains nudity or graphic or gratuitous violence.” Facebook has decided that it would be appropriate under said policy to delete these four groups.