Saturday, November 28, 2015

Many African-Americans see two sides to Ben Carson

U.S. Republican presidential candidate Ben Carson speaks at a campaign event in Pahrump, Nevada November 23, 2015.  REUTERS/David Becker - RTX1VI54

U.S. Republican presidential candidate Ben Carson speaks at a campaign event in Pahrump, Nevada November 23, 2015. Many African-Americans say they see two different – and at times conflicting – sides of Carson. Photo by David Becker/Reuters.

FORT LAUDERDALE, Fla. — Ayauna King-Baker loved Ben Carson’s “Gifted Hands” memoir so much that she made her daughter Shaliya read it. So when Carson showed up in town to sign copies of his new book, King-Baker dragged the giggly 13-year-old along to the bookstore so they could both meet him.

To King-Baker, Carson’s “up-by-your-bootstraps” life story makes him a genuine celebrity worth emulating in the African-American community. But she’s also a Pompano Beach Democrat watching Carson rise in the Republican presidential polls.

For King-Baker and many other African-Americans, the vast majority of whom are Democrats, there are two Carsons: One is a genius doctor and inspirational speaker and writer who talks of limitless horizons; the other is a White House candidate who pushes conservative politics and wishes to “de-emphasize race.”

How they reconcile the two may help determine whether Republicans can dent the solid support Democrats have enjoyed in the black community for decades.

President Barack Obama won 95 percent of the black vote in 2008 and 93 percent in 2012. Carson wasn’t immune to the excitement of seeing the U.S. elect its first black president.

“I don’t think there were any black people in the country that weren’t thrilled that that happened – including me,” Carson told The Associated Press in a recent interview when asked about Obama’s first victory. “Everyone had hope this would be something different. It was nice having that hope for a little while.”

Carson has since become an aggressive critic of Obama. Carson rose to prominence in the tea party movement after repudiating the president’s health care law in front of Obama during the 2013 National Prayer Breakfast. Today, Carson charges that Obama’s performance has actually set black candidates back.

“I don’t think he’s made my path any easier,” he said. “So many people said there’d never be another black president for 100 years after this.”

Carson has not gone out of his way to court black voters this year. He insists he won’t change his message to attract specific audiences, although his campaign tried a rap-filled ad this month.

He already has one convert – King-Baker. She says she plans to change her registration to vote for the doctor in the Florida primary. “He has the momentum, he has the conversation, he’s very serious, he’s speaking to the people, and I just think he would be a very good president,” she said.

None of this will matter unless Carson survives the primaries, where he’s been leading in early preference polls.

Black votes aren’t a major factor in GOP primaries. Only about 16 percent of African-American voters affiliated with the Republican Party in 2012. But they will be a factor in the November general election.

African-American voters are one of the few growing segments of the voting public. The percentage of black voters eclipsed the percentage of whites for the first time in 2012, when 66 percent of blacks voted, compared with 64 percent of non-Hispanics whites and about 48 percent of Hispanics and Asians.

Carole Bell, a professor of communication studies at Northeastern University, estimates that Carson could attract as much as 25 percent of the African-American vote if he’s the GOP candidate. “That would be a tremendous accomplishment for the GOP at this stage,” she said.

Carson is better known by African-American voters than were other black Republicans who ran for president, such as businessman Herman Cain, who achieved passing prominence in the 2012 race, and former ambassador Alan Keyes before him.

Carson was a celebrated figure before he entered politics because of his work as a neurosurgeon. Carson led a team that successfully separated conjoined twins, which led to movie appearances, best-selling books, a television biography and a motivational speaking career that crossed racial lines.

“Black people were proud that Carson had become a famous surgeon and had accomplished what no one else ever had in separating the twins,” said Fredrick Harris, director of the Institute for Research in African-American Studies at Columbia University.

That’s part of his appeal, said Rebecca Britt, 43, a registered Democrat who also came to see Carson in Fort Lauderdale and buy his most recent book. “He’s one of the heroes in our community, with what he’s been able to accomplish in the medical field,” she said.

But can that translate into many black votes?

Carson has said he would not support a Muslim for president, a position his campaign says helped him raise money and attract conservative support. He’s been critical of the Black Lives Matter movement, which drew its name from protests that followed the death of an unarmed black 18-year-old, Michael Brown.

The retired neurosurgeon told the AP that Americans should take the focus off of race during a recent trip to Brown’s hometown, Ferguson, Missouri.

Carson may draw support from conservative African-Americans and those already in the GOP, but it’s unlikely that he would make major inroads in the Democratic Party’s dominance among blacks in a general election, said D’Andra Orey, a political science professor at Jackson State University in Jackson, Mississippi.

Given the GOP’s fraught history with African-Americans, it could be “nearly impossible for blacks to support a Republican who espouses what they deem to be racially conservative rhetoric,” Orey said. “Put short, it’s an uphill battle for any Republican who seeks out the black vote.”

Bell, the Northeastern professor, said Carson’s celebrity may have helped him at the beginning of his candidacy, but that shine may have worn off.

“He had tremendous positives before he started speaking as a potential candidate,” Bell said, “but the more he speaks, the more there’s opportunities to sort of really show there’s a gulf between him and a lot of African-Americans.”

The post Many African-Americans see two sides to Ben Carson appeared first on PBS NewsHour.

Thursday, November 12, 2015

European Bond Markets Gyrate; U.S. Bond Markets Closed

U.S. bond markets were closed Wednesday for Veteran’s Day, even though stock markets remain open (it’s the only holiday observed by bond traders, but not stock traders). European bourses were open and rates markets there have been volatile. European Central Bank president Mario Draghi spoke Wednesday, but didn’t say anything about monetary policy, which caused bund yields […]

Rich Nations Subsidize Fossil Fuels Four Times More Than Renewables




The G20 countries spend almost four times as much to prop up fossil fuel production as they do to subsidize renewable energy, calling into question their commitment to halting climate change, a think tank said on Thursday


The G20 spent an average $78 billion on national subsidies delivered through direct spending and tax breaks in 2013 and 2014, according to a report from the Overseas Development Institute (ODI) on Thursday.


A further $286 billion was invested in fossil fuel production by G20 state-owned enterprises. Related public finance was estimated to average a further $88 billion a year.


Meanwhile, renewable energy subsidies in 2013 were estimated at $121 billion by the International Energy Agency (IEA).


Turkey, which will host leaders of the G20 this weekend, paid national subsidies for fossil fuel production of at least $627 million annually in 2013 and 2014, ODI said in its report. The figure may be higher because of missing data, it said.


In addition, Turkish state-owned enterprises invested $1 billion in fossil fuel production domestically, part of a strategy of a rapid expansion of coal-fired generation and coal production.


"It is tantamount to G20 governments allowing fossil fuel producers to undermine national climate commitments, while paying them for the privilege," ODI said.


Leaders of the G20 will meet in Turkey on Nov. 15-16, where climate change will be on the agenda. France will host talks among almost 200 nations from Nov. 30-Dec. 11 to agree a plan to limit climate change beyond 2030.


Last year, during Australia's presidency, leaders from the G20 group of nations agreed to tackle climate change despite the host country's insistence that it was not an economic issue.


This year, NATO-member Turkey wants world leaders to discuss the conflicts in Syria and Iraq that have led it to take in more than 2 million refugees.


Oxfam's Deputy Advocacy and Campaigns Director, Steve Price-Thomas, said leaders of developed countries were also falling short on their promises to help poor countries adapt to the impacts of climate change.


"These same governments are spending billions propping up the coal and oil industry. They must stop paying the polluters and instead ensure that poor communities receive the money they need to cope with a changing climate," he said.


(Reporting by Dasha Afanasieva; editing by David Dolan, Larry King)


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Monday, November 9, 2015

New House GOP chairman had early democratic roots

Joint Economic Committee members (L-R) Rep. Richard Hanna (R-NY), chairman Rep. Kevin Brady (R-TX) and co-chair Sen. Amy Klobuchar (D-MN) listen to Federal Reserve Board Chairman Ben Bernanke (foreground) at the Joint Economic Committee hearings in Washington May 22, 2013.   REUTERS/Gary Cameron  (UNITED STATES - Tags: POLITICS BUSINESS) - RTXZWLZ

Rep. Richard Hanna (R-NY), Rep. Kevin Brady (R-TX) and Sen. Amy Klobuchar (D-MN) are shown at the Joint Economic Committee hearings in Washington May 22, 2013. Brady took the helm of the Ways and Means Committee last week. Photo by Gary Cameron/Reuters

WASHINGTON — The House’s newest and perhaps most powerful committee chairman is a 60-year-old Texas Republican who began life in a family of stalwart Democrats from South Dakota and lost his father at age 12 in a courtroom shooting.

Rep. Kevin Brady, whose bulldog-looks belie a softer manner, took the helm of the Ways and Means Committee last week. That puts the 19-year House veteran at the forefront of key issues Congress will tackle heading into the 2016 election year, including taxes, trade and benefit programs such as Medicare and Social Security.

Brady’s Chamber of Commerce career before entering Congress molded a mainstream conservative viewpoint, yet he is well regarded by harder-line conservatives. But he has a tough act to follow: the popular Paul Ryan, R-Wis., who led the committee until becoming speaker last month after a revolt by hard-line conservatives pushed former Speaker John Boehner, R-Ohio, to resign.

Brady, who falls short of the oratory spark and reputation for generating ideas that Ryan enjoys, has latched himself to the 45-year-old.

“We’re going to follow the speaker’s lead,” Brady said in an interview last week. He said House Republicans “want us to tackle the big issues, and they want to be involved.”

Involvement has been a major demand of the House Freedom Caucus, around 40 hard-core conservatives whose frustration with being muscled aside by Boehner fueled their antipathy for him. Ryan, R-Wis., is working with conservatives on giving lawmakers more say on legislation and other decisions.

Brady says he, too, is willing to accommodate them, though no Freedom Caucus members serve on Ways and Means. So far, he has won praise from members of the group.

“Very, very positive,” Rep. Mick Mulvaney, R-S.C., said of Brady, adding that several conservatives floated Brady’s name as a potential speaker in the chaotic days after Boehner resigned.

“I don’t think the chairman will come under pressure” from the Freedom Caucus “because we’ll have the opportunity to offer amendments,” said another member, Rep. Rod Blum, R-Iowa.

Some conservatives remain wary.

Adam Brandon, CEO of FreedomWorks, complimented Brady but said his group of anti-regulation conservatives wants to make sure he does not pursue a narrow agenda “dreamed up by some lobbyists.”

Democrats consider him someone they can work with.

“Kevin and I don’t agree probably on any public policy. But he’s not an unpleasant person,” said Ways and Means veteran Rep. Jim McDermott, D-Wash.

Brady, from a solidly Republican district north of Houston, headed the trade subcommittee until 2013. That’s when he took over the health subcommittee and helped lead many of the House’s GOP’s repeated, unsuccessful efforts to roll back President Barack Obama’s health care law.

As chairman, Brady’s portfolio is much wider.

Measures he hopes will get Obama’s signature include legislation making dozens of expiring tax breaks permanent, altering taxation of U.S. companies that operate abroad and easing trade barriers with Pacific Rim countries, though Brady said he has taken no final position on that recently negotiated treaty.

Another goal will be longer range – broadly rewriting tax laws with lower rates for individuals and businesses, and fewer loopholes. The issue has gridlocked Washington for decades.

“He’s coming to this job at a time of expectations, but the expectations have always been there” for Ways and Means chairmen, said former Rep. Bill Archer, R-Texas, who led the committee in the 1990s.

Brady calls Ryan coach of the House Republicans and himself “the quarterback of the Ways and Means team.” Sports analogies seem fitting for Brady, a star athlete in baseball and other sports while growing up in Rapid City, South Dakota.

As a 12-year-old at football practice one day, Brady’s coach tapped his shoulder and guided him to a policeman nearby. That’s when he learned his father, Bill, an attorney representing a woman in a divorce trial, had been shot to death in the courtroom by her husband. That left Brady’s mother, Nancy, with five children to raise.

The family purchased and ran a campground, and Brady threw himself into various sports.

His high school wrestling coach recalls that Brady, injured and out of shape, spent one night sweating off pounds in the gym when a teammate was hurt and Brady was too heavy to compete in his 132-pound weight class. He lost the necessary weight – Brady says 12 pounds – and wrestled, losing his match but preventing his team from forfeiting.

“They were tough kids,” the now-retired coach, David Ploof, said about Brady, his two brothers and two sisters. “They had to be.”

Brady worked his way through the University of South Dakota with odds jobs including maintenance worker and bartender. He took a job at the local Chamber of Commerce, then started working for Chambers of Commerce in Texas.

Brady’s parents were active Democrats in South Dakota and an uncle was a Democratic state senator. Brady said he became a Republican while working for the chambers, where he spent time helping businesses.

“You can’t help but know how government burdens those job creators,” he said. “So that is where the light bulb went off for me.”

The post New House GOP chairman had early democratic roots appeared first on PBS NewsHour.

Wednesday, November 4, 2015

Volkswagen’s Credit Outlook Worsens

As Volkswagen’s (VLKAY) emission-rigging scandal widens, its credit picture is looking worse. On Wednesday, Moody’s Investors Service downgraded Volkswagen’s credit from A2 to A3, which is still investment grade. The firm continues to have a negative outlook. Yasmina Serghini, Moody’s lead analyst for Volkswagen, said: Today’s downgrade reflects mounting risks to Volkswagen’s reputation and future earnings following […]