Photo: Alex Johnson

Although it may seem sacrilege right now to have reservations about Obama’s magical ability to heal the world, this Outlook India piece lays it out. Before Obamamania set it, a startlingly small percentage of the world thought that a change in Presidency would bring any meaningful change to U.S. foreign policy.

The fact that Obama is riding high is good right now, but could result in a damning backlash if he fails too often or too soon.

Article from Outlook India: Time To Deliver

ESTONIA: The U.S. economic crisis continues its rampage across the rest of the world. In Estonia, Latvia, and other Eastern European counties the problems are amplified by already shaky economic systems. Despite millions coming in from the EU and government retraining programs, many citizens are without jobs and without hopes.

Adopting the Euro is the top priority for many of these countries. But to do so they must have a more stable system and larger cash reserves. Countries like Russia have also raised tariffs on exported raw materials, making life even harder for Eastern European companies.

Photo by Radio Nederland Wereldomroep

CARACAS, VENEZUELA: There has been a quiet struggle between South America and Israel ever since the Gaza attacks. On the first day of the invasion, Chavez kicked the Israeli envoy out of Venezuela, and Evo Morales quickly followed suit. Despite having claimed that diplomatic ties were cut, Venezuelan diplomats were still in Israel until today. Doing what, I don’t know. Could be the Hugo Chavez Roadmap for Peace, but now we’ll never know. Nicolas Maduro, the Venezuelan Foreign Minister, had this to say:

The response of the state of Israel is weak, late and, in any case for us, it’s an honour… We’re proud that the state of Israel that exists today, led by these criminals, made this decision… All of the Muslim, Jewish and Christian communities know religious discrimination is not a problem that has, or will have, a place in our society.

Article from Al Jazeera English: Israel expels Venezuelan envoys

Video from Russia Today

GAZA: This video covers the prettiest side of the Gaza tunnel smuggling. There have also been reports of gun and drug smuggling through the network, enough to give the Israeli Defense Force reason to worry. But, to be fair, there wouldn’t be smuggling if there wasn’t a blockade to smuggle around.

From the Zimbabwe Independent by Annonymous

ZIMBABWE: Apparently, this cartoonist doesn’ believe the SADC is much help to Zimbabwe.

I love reading political cartoons from countries where the cartoonists are in real danger. Not because I wish ill on any cartoonists, but because I think it’s so brave to make light of things that way. The Zimbabwe Independent has a rockin’ cartoon page. I highly recommend it.

Cartoon Page: Zimbabwe Independent Cartoon Page

CHINA: In an op/ed in the China Daily today Shen Dingli refuted the claim that China’s high savings rate led to the cause of the U.S. real estate bubble bursting. These claims were made by none other than Ben Bernake.

China has no social security system yet, similar programs are being “mapped out” right now, and it may be years before they do. As a result, Chinese citizens save a larger percentage of their money than American citizens. For a country who’s average per capita GDP is about 5% of the U.S., being able to save at all is impressive. Also accuses American businessmen for trying to pass the buck for overspending.

It is interesting to read a Chinese writer talking positively about the transformation into a consumer culture. But mathematically, China still has a long way to go. Their GDP as a whole is about 1/4 of the U.S. and their per capita is 1/20. Not very much of that money is trickling down to the consumers.

Article from the China Daily: Logic of blaming China for US crisis is bizarre

From France 24 English

CHINA: Who knew that China had a thriving, get rich quick, contemporary art market? Aparently the days of windfall art profits are over though, as France 24 reports.