Safety Coming at a Higher Price

Last month a new security screening process was adopted at airports. The new full body scanners produce an x-ray picture of passengers full bodies. Many travelers feel strongly against having their naked outlines projected for all to see. Don't worry, there is another option: a full body pat down similar to what a suspected criminal would receive from the police that is far from gentle. Passengers have cried in protest that they are being sexually harassed and two pilots even filed a lawsuit against the Department of Homeland Security saying that their fourth amendments had been violated. The New York Times reports:

“For Fourth Amendment purposes, you can’t touch somebody like this unless you’re checking them into a jail or you’ve got reasonable suspicion that they’ve got a gun,” said John Wesley Hall, a criminal defense lawyer who specializes in search and seizure law.
“Here there is no reasonable suspicion,” he said. “It’s the pure act of getting on a plane.”

Passengers obviously want to feel safe when they travel, especially after 9/11, but many argue that the new full body scanners are crossing a line. While it is not doubt important that we keep air travel as safe as possible, there has to be a more comfortable way to ensure passengers that their flight will be completed safely. With the old system, there had been a few instances of explosive devices making it onto airplanes but experts point out that the new machined only detect metal, not plastic. Furthermore, there is a health risk involved with the X-Ray technology. Overall, many have concluded that the scanners only provide a false sense of security. If a change is not made, we will see many more law-suits and complaints arise in the near future.

Obama/ G.O.P. Showdown

Obama has decided to confront Senate Republicans about arms control. This will be his first real test of power now that he has to contend with republicans. Winning will prove his strength while losing will only reinforce the view that he has become weakened. The N.Y. Times reports that

The White House has only one Republican supporter, Senator Richard G. Lugar of Indiana. A survey of 14 other Senate Republicans who were considered possible supporters found none who were willing to publicly back the treaty. Ten of them said they were undecided or were waiting for the same assurances as Mr. Kyl, and four did not respond, suggesting that approval may depend on changing Mr. Kyl’s mind.

This test marks the beginning of the final two years of Obama's presidency. Whether he succeeds or not, the outcome will only show that having differing parties in the senate and in the white house does not create a more balanced government, but rather creates chaos and arguments. 

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Marijuana Related Domain Names Selling Like Hotcakes

As voting time approaches for Californians, one of the most interesting topics is that of Prop 19, concerning the legalization of marijuana. With many citizens strongly believing it will pass, many people are taking measures to get prepared. Domain names concerning marijuana are now being bought like crazy because, assuming prop 19 passes, they will then be able to be sold for huge profits. The N.Y. Times reports on this issue:

Still, Mr. Berkens thinks marijuana domains could be a good investment; he sees the political momentum moving toward legalization and decriminalization. “We own gaymarriage.com,” said Mr. Berkens, who is also president of Worldwide Media, a company that owns some 75,000 domains, 57 of them marijuana related. “That’s another one of these politically charged hot topics, heavily dependent on politics.”

 This is an incredibly good idea, but only if prop 19 passes. Many of the buyers of these domain names expect to be able to sell them for up to 5,000 dollars. If marijuana is legalized in California, it will bring in tons of money in taxes, create jobs, and possibly lower drug related crime. No matter what happens, it will be very interesting to see how this whole issue plays out.

Trade Gap Between U.S. and China Widens

In August, the United States trade deficit widened to the highest point on record, a whopping $46.3 billion. As the gap widens between China and the U.S., concerns rise about China's dominance in the global economy. In order to stabilize the deficit, U.S. citizens are encouraged to purchase U.S. made goods. In order to accomplish this, U.S. goods are going to have to become more appealing to consumers.

Recent slowdowns in job and output growth have weighed on economic forecasts for the remainder of 2010. On Thursday, first-time claims for unemployment insurance provided the latest sign of a weak labor market, reaching 462,000 in the week of Oct. 9, an increase of 13,000 from the previous week, the Labor Department said. Economists had expected the number to go down, by 4,000.

America has become somewhat lazy in terms of producing quality goods that are in demand. The U.S. promotes capitalism but unfortunately does not follow much of its own advice. Capitalism depends on competition, but American producers have fallen behind and are letting producers such as China rush past us. If there is to be any hope of repaying our debt to China, it is necessary for the U.S. to take big steps towards improving sales of U.S. products without imposing dangerous tariffs on Chinese goods.

Forclosure Mess Could Cost Billions

When it was discovered that banks had been foreclosing homes by getting the foreclosures signed by robo-signers who signed without reading a single word, nobody expected everything to turn out completely fine. Just how damaging will this incident be overall? Investors also wondered so they decided to calculate the cost of the whole mess.

“I don’t see how it can be cleared up in a short period of time,” said Richard X. Bove, an analyst with Rochdale Securities. “The moratorium won’t last that long but the problem will last at least four or five years, maybe a decade.” In the short term, he said, “it could easily cost $1.5 billion per quarter.”

While in a recession, it seems that this is not exactly an effective way to recover. As I mentioned earlier, greed is a force that is steadily corrupting our economy. Big companies pursue wealth by any means necessary while the middle class suffers the consequences. Hopefully this incident will send a message to banks and other big companies that it is important to abide by regulations.