Africa Is Such A Mess That Congress Is Asking Ben Affleck To Explain What's Going On

Affleck Congo

Things have gotten so bad in Africa that Ben Affleck is actually going to testify in front of Congress' Armed Services Committee, Jeremy Herb of The Hill reports.

Affleck, star of the movie "Argo" and "Good Will Hunting," is actually pretty knowledgeable about the region, the Congo specifically, because he started a nonprofit organization, the Eastern Congo Initiative, centered around relief efforts in the stricken country.

Affleck's appearance is primarily for the Armed Services Committee to get a better idea of the situation on the ground in the country, but it highlights the instability of the continent as a whole.

Libya has recently militarized its southern borders as an attempt to stem the tide of Al Qaeda's illegal arms trafficking. The arms, oddly enough, end up in Mali, which is just waiting to explode.

There's also Al Shabaab in Somalia, a target for American military covert operations, and a laundry list of countries on the brink or in the middle of civil war.

As we've reported in the past, fighters and weapons move freely around the region. U.S. efforts in Iraq may have pushed al Qaeda out, but the game has become one of geographic wack-a-mole, with major  al Qaeda players popping up in regions where there is little American presence.

"This has to be a priority," said Affleck during a recent appearance on ABC's The Week with George Stephanopoulos. Affleck went on to retell a story about how the only well-disciplined, moral military unit in the area was also the only one that was American trained.

One might think Affleck was calling for American intervention, until Rep. Adam Smith (D) of the Armed Service Committee did so himself.

"China is actively engaged in the area, actively engaged in a mercenary way, pay whoever they have pay to get the minerals out, if we could bring greater stability, there's a huge economic opportunity for us to take advantage of, for our benefit but also the benefit of the people there," he said.

Indeed China has become a big player throughout the continent, even hiring former Blackwater founder Erik Prince to provide diplomatic and security "consulting." 

The House Armed Services Committee says the purpose of its hearing is to achieve an idea of the “evolving security situation in the Democratic Republic of the Congo and the implications for U.S. security.”

The implications seem clear though: couple economic opportunity with al Qaeda and China's growing influence, and a recipe for U.S. intervention seems almost inevitable.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/4FsvwLcupSI/ben-affleck-testifying-before-congress-2012-12

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Watch Your Credit Card Statement: Refunds Arriving Soon From AmEx, Capital One, Discover

Getting money back from a credit card issuer doesn’t happen every day, so plenty of Discover, American Express and Capital One customers are in for a treat in the form of refunds hitting their accounts soon. Those three companies were ordered to pay up a total of $435 million to almost six million customers after the Consumer Financial Protection Bureau … [More]

Source: http://consumerist.com/2012/12/17/watch-your-credit-card-statement-refunds-arriving-soon-from-amex-capital-one-discover/

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Forget Christmas. This Kmart Has Already Moved On To Valentine?s Day

By now, you’re all familiar with Christmas Creep, the insidious inching of the holiday shopping season earlier and earlier into the year. But there’s a lesser-known holiday creep that is already showing up on the shelves of at least one retailer.

Consumerist reader Colleen spotted the above Valentine’s Day-themed section at her local Kmart in Ohio, with about 60 … [More]

Source: http://consumerist.com/2012/12/17/forget-christmas-this-kmart-has-already-moved-on-to-valentines-day/

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Now You Can Watch Game Of Thrones While Drinking Game Of Thrones Beer

Have you ever been drinking a beer while watching Game of Thrones on HBO, or while reading one of George R.R. Martin’s A Song of Ice & Fire novels and thought to yourself, “If only this brew I’m enjoying were also somehow named after something from this story I’m enjoying”? Well, then you’re in luck.

The folks at Cooperstown, NY, … [More]

Source: http://consumerist.com/2012/12/17/now-you-can-watch-game-of-thrones-while-drinking-game-of-thrones-beer/

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Investors, Resist Holiday Temptations!

There?s nothing like Christmas! The chill in the air, the lights, the songs, the smells of special holiday treats and memories of happy Christmases past all do their part to sweep us into the Christmas spirit.

As you soak up the traditions and togetherness, it?s also important to keep an eye to the future. Investors, we?re talking to you! Don?t be tempted to use your investing budget to spurge on shopping.

Stay Focused

It may sound harmless, but diverting your investing funds ?just this month? can have a huge impact years down the line at retirement. Let?s say you planned to invest $6,000 this year?that?s $500 per month. If you decide to skip investing this month and buy an iPad with your $500 instead, that will erase about $15,000 from your retirement fund 30 years from now. While that may not keep you from putting food on the table, it?s a significant chunk of change for an item you can probably do without.

And even though you say you?ll do it ?just this month,? giving yourself permission to spend your investing money is a slippery slope. It can easily become a costly habit. If you skip investing every Christmas for 30 years, that could reduce your retirement fund by $135,000!

No one wants you to enjoy and be generous at Christmastime more than we do. You?ve worked hard to get to Baby Step 4, so you?ve earned the right to splurge a bit. Just be sure to budget your splurge and stay disciplined about investing. It?s a commitment you won?t be sorry you made!

Stay on Track With Expert Advice

Make the most of your investing dollars and work with an expert with the heart of a teacher. Dave?s investing Endorsed Local Providers (ELPs) are investing professionals who will keep you on track and give you the same great advice Dave would. Contact your ELP today!

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Source: http://www.daveramsey.com/article/investors-resist-holiday-temptations/lifeandmoney_investing

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GOLDMAN: People We Talk To Have Stopped Worrying About The Fiscal Cliff

david kostin

Uncertainty around the fiscal cliff continues to be at elevated levels as Washington has yet to hammer out a deal.

However, stocks are up and according to a new survey from Morgan Stanley, business confidence is rebounding.

Why?

The new consensus appears to be that an agreeable deal will eventually get done.  If not by the end of the year, it'll certainly get done early next year.

This idea has put portfolio managers at ease, writes Goldman Sachs' David Kostin:

New Year’s is just two weeks away – and with it the statutory tax hikes and spending cuts known as the fiscal cliff. The stock market appears to have adopted a surprisingly benign view that Congress and the White House will reach agreement to avert the full impact of the fiscal contraction. Many portfolio managers now explicitly assume a deal will be struck by year end (or possibly early January) that raises taxes on upper income Americans and curbs the growth rate of entitlement spending.

As reflected by the sinking VIX, the stock market appears to be full-blown complacent about the fiscal cliff.  hopefully they won't be disappointed.

SEE ALSO: Bloomberg BRIEF's Brilliant Summary Of The Fiscal Cliff >

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Source: http://feedproxy.google.com/~r/businessinsider/~3/FYGKL6m_LHo/goldman-porfolio-managers-assume-deal-2012-12

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US Business Confidence Surges, Even As Fiscal Cliff Uncertainty Jumps

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The December reading of Morgan Stanley's proprietary Business Conditions Index* is out and the results are a bit counterintuitive, but overall they appear to be bullish.

The headline index surged 15 points to 51% in December, which makes up for much of the 20 point slide we've seen in the last two months.

The tumble in October and November had been attributed to elevated uncertainty caused by the fiscal cliff.

Interestingly, "reports of uncertainty created by the fiscal cliff jumped dramatically in December to another new high," according to Morgan Stanley's US economics team.

"Given that fiscal cliff uncertainty is up and hiring plans deteriorated, it’s unclear what drove the year’s largest increase in expectations."

As seen in the breakdown below, the manufacturing and services sub-indices both jumped.  The expectations sub-index also exploded higher.

Like the markets, which are also up despite policy uncertainty, it appears that businesses think all of this fiscal cliff hubbub is just fleeting noise in an otherwise favorable business backdrop.

For the most part, economists and strategists agree that overall economic and market conditions are favorable.  The only thing hanging over the market these days is the fiscal cliff.

Here's a breakdown of the index:

morgan stanley business conditions

*From Morgan Stanley:

What is the MSBCI?
The Morgan Stanley Business Conditions Index (MSBCI) is an economic barometer that is based on an internal monthly canvass of our industry analysts in North America Equity Research. Though brief, this survey covers a wide range of topics pertaining to the companies under our analysts’ coverage. Specifically, the MSBCI is comprised of a “headline” index that measures general analyst sentiment as well as component indicators that gauge financing, advance bookings, pricing, hiring, capital spending, and expectations. Since its inception in June 2002, the MSBCI has served as a valuable and effective instrument for anticipating directional moves in the U.S. economy (see “Introducing the Morgan Stanley U.S. Business Conditions Index,” July 11, 2003).

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Source: http://feedproxy.google.com/~r/businessinsider/~3/8l4KieKvIiU/morgan-stanley-business-conditions-index-2012-12

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Now You Can Watch Game Of Thrones While Drinking Game Of Thrones Beer

Have you ever been drinking a beer while watching Game of Thrones on HBO, or while reading one of George R.R. Martin’s A Song of Ice & Fire novels and thought to yourself, “If only this brew I’m enjoying were also somehow named after something from this story I’m enjoying”? Well, then you’re in luck.

The folks at Cooperstown, NY, … [More]

Source: http://consumerist.com/2012/12/17/now-you-can-watch-game-of-thrones-while-drinking-game-of-thrones-beer/

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Here's The Ingenious $400 Million Plan To Deal With The Wrecked Costa Concordia

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In January, the cruise ship Costa Concordia struck a rock of the shore of Isola del Giglio, in the Mediterranean.

30 people on board the largest passenger wreck of all time lost their lives; two are still missing. Nearly a year later, the wreck is still sitting off the Italian coast, mostly submerged.

Because the Costa Concordia is in a nationally protected marine park and coral reef, it must be removed from the area before it can be dismantled, posing countless difficulties.

In a report on the efforts to remove the wreck, 60 Minutes' Leslie Stahl visited the site and recounted the remarkable salvage operation, which has a $400 million price tag.

Not only is it the riskiest, most complicated, and most expensive salvage plan ever undertaken, but no one is sure if it will work.

The ship weighs 60,000 tons and is filled with seawater.

It is sitting on two underwater mountain peaks. 65 percent of it is below the surface.

The wreck is an official crime scene.

See the rest of the story at Business Insider

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Source: http://feedproxy.google.com/~r/businessinsider/~3/egVmKPRHu6U/plan-to-salvage-costa-concordia-wreck-2012-12

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Is There No End To Vale?s Woes?

To further add to its troubles, its Simandou project in Guinea is going nowhere due to the fickle nature of government policies. As a result, Vale has been forced to suspend projects, including Simandou, resulting in a drastically reduced capital expenditure target for next year.

Source: http://www.forbes.com/sites/greatspeculations/2012/12/13/is-there-no-end-to-vales-woes/

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