United States Increases Its Share of Worldwide Arms Market Amid Economic Slump

Business is booming for the United States in the foreign arms market. Even with a faltering economy and a slump in overall global arms sales, according to a Congressional study, the U.S. increased its annual market share to more than two-thirds of all foreign arms deals in 2008. In a nutshell, that means that 68.4 percent of arms trades involve U.S. sales. This is great news in some circles, but not to the millions of Americans who are unemployed.

Topping the list of buyers in the developing world last year were the United Arab Emirates, which signed $9.7 billion in arms deals, Saudi Arabia, which signed $8.7 billion in weapons agreements, and Morocco, with $5.4 billion in arms purchases.

New York Times:

Despite a recession that knocked down global arms sales last year, the United States expanded its role as the world’s leading weapons supplier, increasing its share to more than two-thirds of all foreign armaments deals, according to a new Congressional study.

The United States signed weapons agreements valued at $37.8 billion in 2008, or 68.4 percent of all business in the global arms bazaar, up significantly from American sales of $25.4 billion the year before.

Italy was a distant second, with $3.7 billion in worldwide weapons agreements in 2008, while Russia was third with $3.5 billion in arms sales last year — down considerably from the $10.8 billion in weapons deals signed by Moscow in 2007.

The growth in weapons sales by the United States last year was particularly noticeable against worldwide trends. The value of global arms sales in 2008 was $55.2 billion, a drop of 7.6 percent from 2007 and the lowest total for international weapons agreements since 2005.

The annual report was produced by the nonpartisan Congressional Research Service, a division of the Library of Congress. It is widely regarded as the most detailed collection of unclassified global arms sales data available to the general public. To read more, CLICK HERE.

Photo credit:  MSNBC

President Barack Obama, President Nicolas Sarkozy Take in the View of Mayara Tavares, as they Pose with Junior G8 Delegates

Update
Van Susteren Debunks Obama G8 Photo Smear


This is a very interesting picture of President Barack Obama taking in the view. This picture has been prominently placed on The Drudge Report and Reuters for obvious reasons. The teenage girl has been identified as Rio de Janeiro resident Mayara Tavares. The girl from Ipanema had been selected to attend a meeting of young people held in conjunction with the summit.The picture was snapped as both presidents took their places with junior G8 delegates for a family photo at the G8 Summit in L'Aquila, Italy today. Leaders of the Group of Eight major industrial nations and the main developing economies are meeting in the central Italian city until Friday to discuss issues ranging from global economic stimulus to climate change and oil prices.

It is an awkward picture, but I honestly don't think President Obama would stoop so low as to check out a teenage girl. He isn't of the same ilk as President Bill Clinton. Share your thoughts on what this picture says to you.

Seismologist Gioacchino Giuliani Predicted Deadly Earthquake Would Strike L'Aquila, Weeks Before Monday's Quake, Muzzled by Authorities

Resident Maria Francesco told AFP: "It was the apocalypse, our house collapsed. It's destroyed, and there's nothing left to recover." The devastation in the wake of an earthquake that struck L'Aquila, Italy, is heartbreaking and horrific. What I find interesting, however, is how easily warnings are shrugged off by the relevant authorities. There were dire warnings about terrorist attacks prior to September 11, 2001, but they were shrugged off. Then the same people are shocked beyond words when the warnings materialize.

Seismologist Gioacchino Giuliani had predicted that a deadly earthquake would strike L'Aquila, Italy, weeks before Monday's quake, but was muzzled by officials, Reuters reported. He was reportedly forced to take his findings off the Internet and was reported to police for "spreading alarm," according to Reuters. Last month, vans with loudspeakers reportedly drove around L'Aquila telling residents to evacuate their houses.

According to Reuters, Giuliani based his prediction on the levels of radon gas around seismically active areas. But the head of the National Geophysics Institute downplayed Giuliani's prediction. "Every time there is an earthquake there are people who claim to have predicted it," Enzo Boshci told Reuters. "As far as I know nobody predicted this earthquake with precision. It is not possible to predict earthquakes." Source: Reuters

I don't know if he could have prevented the devastation, but more lives could have quite possibly been saved if they had heeded his warnings, instead of muzzling him. We have seen this very mindset being played over in our society repeatedly. My thoughts and prayers go out to the victims and their families. I have experienced two tremors -- one in New York City in the late 1980s and one in Jamaica during the late 1970s and that was a scary thing. I can well imagine how these people must feel. I hope Silvio Berlusconi won't put his foot in his mouth during this tragedy. The last thing Italy needs is drama from him. Isn't it ironic that this 6.3-magnitude quake struck 60 miles north-east of Rome and during Holy Week?