NewsRat = ( News - Propaganda )

Gas prices have risen from national average of $1.95 to $2.05 for Regular. 10 cent increase happened in the last 3 weeks. The rise was due to the environmental costs linked to warmer weathers. Although there is a rise, the price is still 40 cents lower than last year at this time.


BOTTOM LINE:

Although we see a little increase in gas prices, it is still very cheap. Prices are due to low demand and deflation due to our current economic conditions. As the economy increases, we will see a higher demand for gas and of course higher prices will follow.

USS Bainbridge was sent on the coast of Somalia after the news of Captain Phillips from Maersk-Alabama being held hostage by Somali Pirates. USS Bainbridge commanding officer, Frank Castellano ordered an attack operation in order to save captain Phillips. US snipers shot and killed 3 of the 4 pirates holding captain Phillips as hostage, wounding the 4th pirate. Captain Phillips has been safely rescued from the Pirates. President Obama had confirmed the US attack on the pirates in order to save Captain Phillips.

USS Bainbridge commanding officer, Frank Castellano (Left) & Maersk-Alabama Captain Richard Phillips, after rescue.

BOTTOM LINE:

This was the best move by the US in order to save Captain Phillips. This operation was also the riskiest. This sends a message to the pirates that USA does not negotiate with pirates or terrorists. Headshots often causes a muscle movement in a person, and since the pirates were aiming at the captain, it would cause them to pull the trigger. However we are glad this did not happen and Captain Phillips was safely rescued.

Wells Fargo, who received $25 Billion from us the taxpayers, has announced $3 Billion 1st quarterly profits, $20 Billion in revenue. Surprisingly Wells Fargo is doing very well. A week from now other major banks such as JP Morgan, Bank of America and Citibank will announce their 1st quarterly profits.

Wells Fargo's stock jumped up over 30% after the great news, as people saw a decent bank to invest in. Wells Fargo reports strong mortgage activity since 2007, when the housing crises started. Wells Fargo has received $190 Billion worth of mortgage applications, 25% of whom applied for loans to purchase a house. Primarily the applications were for refinancing houses.

Although it is looking great for Wells Fargo, there were still $4.6 Billion losses from foreclosed homes in the first quarter. Last year 1st quarterly profits for Wells Fargo were $2 Billion and they still received the $25 Billion aid from government. Wells Fargo was not in need for the aid, it was giving to them to be fair, as the government gave aid to every bank. On the brighter note, we see more people investing in major banks such as Bank of America after this report from Wells Fargo. Bank of America is up more than 30% also, JPMorgan is up just over 19 %while Citi Group is up over 12%.


BOTTOM LINE:

Although there are some progress in the major banks, as we see record profits, it is not yet a sign for future improvements. The only way this recession will end is when banks such as Wells Fargo start lending to businesses and people, which will get the market going. I don't mean lending to people with 100% financing, who could not afford them, which is what got us into this mess in the first place. I mean lending to people with normal amounts of regulations, not too tough and not too weak. Tough regulations will never end the recessions, weak regulations will cause a recession, we need something in the middle. Due to the very tough regulations for lending, very few businesses and people are able to get loans. Recession will be over and banks will get better as soon as they start lending.

New York Times has reported that Obama will announce a plan in May of this year that will try and make illegal immigrants into legal. There are no specifics to the plan and it is estimated to legalize 12 million illegal immigrants. A democratic House of Representative member Luis V. Gutierrez is visiting churches to gain support for the future bill.

(Luis V. Gutierrez visiting a church in hopes of gaining support for the future bill.)

Republicans oppose and criticize this future bill saying how it will steal jobs from Americans. Republicans' arguments are that it is bad enough for Americans as it is, with high unemployment and when illegals become legal, they would fill in as workers for the Americans.


BOTTOM LINE:

If this bill is what it said to be, it will be voted by the congress. As we know majority of the congress is and controlled by Democrats. Most Democrats support an immigration reform, legalizing illegal immigrants. Republicans will oppose this bill, however Democrats will vote for it and it will get passed. Obama should secure the border first, and then think about legalizing immigration left in the US, or else more and more will come.

So you probably have seen the latest video of Obama bowing to the Saudi king Abdullah, if you have not seen the video, I have included the video in this post. Clearly we can see Obama bowing to the Saudi king, when greeting him. Obama has showed a lot of weaknesses in the G20 summit. He has apologized on the behalf of USA, referring us as "arrogant". This weakens Obama and the US in front of all the G20 countries. Now after those comments, the G20 nations can freely say and blame the global economic crises on USA, just like after WWI, the allies teamed up and blamed Germany.



Some people argue that Obama's bowing is just a show of respect to the Saudi king. They also argue we must respect the Saudi king because we depend on their oil.


BOTTOM LINE:

The bottom line is Obama bowed to the Saudi king and it weakened Obama and the USA in front of Saudi Arabia. Now we are strongly dependant on Saudi oil, that means they are strongly dependant on our consumption of their oil. Even if Obama slapped king Abdullah on his face, we would still receive oil from them. Like the words from the movie Godfather "It's not personal, it's strictly business".

First time in 200 years, a US flagged ship had been seized by Somali pirates. Maersk Alabama was captured by Somali pirates early Wednesday, off the coast of Somalia. Pirates approached the US ship with couple of smaller boats and were able to take control of the ship and it's crew. Somehow the 20 crew members managed to escape and get control of their ship, after being captured. However the captain of the ship remains in custody of the pirates. Pirates will negotiate with the US on a deal to free the captain and the crew member.

US warship is on its way to the scene...


BOTTOM LINE:

It is obvious how the ship did not have a security personnel on board to protect themselves from anyone. This ship was not ready and could not shoot off the smaller boats next to the ship. Now next time the US should put a security personall on board with the crew as the number of pirate seizures have been increasing.

Sounds good right? A new hope for GM, a new partner and a new model that is powered by full lithium-ion electric battery, 35 MPG per charge. Sounds great except that the car is smaller than a gold car and less safer. Now take a look at the picture below and tell me what would happen if someone gets in a simple accident in this so called car.

PUMA, Personal Urban Mobility and Accessibility

There are currently no prices set, and no date announced by GM and Segway. Now the question is would anybody buy this so called car? You can't drive this in a highway, maybe drive it in your 10 acre mansion, if you have one. There are a lot of people that might buy it in hopes of saving money, but they won't be happy for saving $300 when they're in the hospital after a simple accident.

GM either makes high gas consuming big SUV's or small, unsafe high MPG cars. GM needs to make something right in the middle to attract the average person away from Toyota or Honda.

Why would you buy GM, when you can get a Toyota, that is much better in price and MPG. This is best part of the free market system, companies compete over you and competition always makes the product better, whether it is a car or a health insurance.

BOTTOM LINE:

With the gas prices as normal as it is now, the hopes for this so called car are low. Some people might buy it thinking they will save money, but most will not. Just like the Hummer model from GM today. GM does not need this right now, while it is still in a situation of failing as a car company. This is a gamble by GM at a wrong time.