Wednesday, March 18, 2009

EARNED INDIGNATION


There has been increasing disgust towards AIG in the past week. You would have to say that AIG earned the indignation considering the federal bailout and that the same division that almost bankrupted the company is now receiving bonuses for their risky and flagrant behavior. Because the employees almost succeeded at destroying the company, they are revered. Maybe the goal was to show, that even if they did destroy the company, that being so large the American people and our American government, who are so enamored over the glorification of money, would worship these employees. Who took the short bet that the demise of Mega Corporation would only make our government comfort and protect all them from normal bankruptcy laws, and keep them afloat? I bet you wish you had a stake in it.

As one commentary read in Salon Magazine, “Life was really sucking chicken boogers” and then the hilarious review on AIG came along causing him a gutbucket-laughing season that many similar readers needed. I was not able to laugh; maybe I take losing millions of hard working Americans’ money too seriously.

Obama may change his slogan at the bequest of Jay Leno on next Thursday with, “Oh, no you don’t”. Moreover, I would second that recommendation. In addition, I hope Leno is able to hear a candid Barack Obama commit on this incident.

Maybe I should not be so harsh considering I got a call from them the other day, asking if I were interested in immediate employment. I asked, “But aren’t you guys going bankrupt?”
“No”, the enthusiastic head hunter replied, “that’s the media for you, they say the funniest things you know . . .” I held on to the line not knowing whether to sigh or ask more questions. I did neither; she continued, “Will you please send your resume to the following fax number and we’ll call you back for an interview”. I wrote the fax number down but still have not faxed the resume.

We need to stop idolizing people who make their money off the backs of those who do not know the meaning behind the “fine print”. We need to reassess our cultural adaptation that lucre is not filthy that it purchases us prestige, power, and respect. We need to address our narcissistic morality that only applies when our reckless attitudes and behavior puts the spotlight on us. Or maybe we need to recommend that those financial planners involved in the economic disaster hold hands aligning Wall Street and take a huge suicide pact at noon, then we won’t have to put their parents, family members, and neighbors through the humiliation of seeing them answering to grand juries, trials, and media empathy. While we are at it, allow the insurance companies to pay the widows, widowers and beneficiaries unless they too are in the financial industry. This would solve some economic problems; it would stimulate the funeral industry and all of the supportive small businesses: floral shops, limousine services, casket makers, the Neptune society, black ready wear, mortgage lending, church services and the divesting of property. Need I say more? This might also send a message to those who are supposed to be in the people business that they have an obligation to the people they serve. However, you know this will not happen, because we revere moneychangers. Maybe Jesus knew what he was doing when he turned over their temple tables. I can think of a couple 401K portfolio planners’ asses I would like to kick also especially when you know they had to know.


Minerva Leah Williams

Friday, March 13, 2009

WHAT NO ONE KNEW


“Don’t you destroy enough dough on your own show” says Stewart referring to Jim Cramer. . .(Thursday, March 12, 2009)

“Don’t you destroy enough dough on your own show” says Stewart referring to Jim Cramer. . .(Thursday, March 12, 2009). Not wasting any time or jokes, John Stewart, host of the Daily Show, introduced Jim Cramer, “How the hell did we get here?” I just want you to know that after receiving some cream pie on your jacket that the question of the economy is not being personally directed to you but it remains to be seen how no one knew what was going on in the money markets.”

The show having been billed as “Brawl Street”, the 12 minutes is becoming a Favorite “go time” episode on Twitter. Presumably angry with John Stewart, who has been reaming the entire news and financial networks for not warning the American public of the economic condition the United States is now under. Jim Cramer walking to the guest chair, donning one of his signature blue wrinkled shirts, rolled up sleeves and pink tie swaying replies, “We should have seen it coming more and it is a terrible one and everyone got it wrong . . . no one should be spared.” Cramer, who is a political humorists normally bearish and host of CNBC “Mad Money” Show spoke towards the economic mess we are all in.

“The gap between the CNBC snake oil, as a vitamin tonic is real in America”, says Stewart. “There are two types of people who are financial professionals and exposing transactional markets and those that will come on the program and lie when you ask them the direct questions,” responded Cramer.

“We are capitalizing your venture”, said Stewart, “a game that you know well, and you go on a television network and pretend it is not going on. News mediums should call out shenanigans, uptake rules, and designing hedge funds.” Stewart went on to show a segment where Cramer tells another commentator on another financial show that “hedge funds regulate great excitement”. Cramer smirking at Stewart drops his head and wrings his hands, the first open sign of guilt.

“I’ll try doing that, I’ll do better, I promise”, says Cramer.

The financial news is often omission of the facts and how the facts are attained. Having CEO’s come on any show lying will make you remember the tobacco companies in the middle 90-s lying about smoking does not harm your health. The current situation is not any better, i.e. Bear Sterns, AIG, Countrywide, Bank of America, Lehman Brothers and other markets knew they are engaging in risky business and packaging their product to foreign markets is just as despicable and we wonder why the world thinks we are arrogant, heartless and obsessed with materialism. Yeah, and it looks like we will bend any established rule to get to the soul of the issue” to possess money and power” at anyone’s expense.

Yes, Cramer may make finance entertaining and interesting to watch but Stewart told him “it is not a game when you are taking someone’s hard earned money, life savings and making a game out of it”.

Without question, there was little concern and care about the American public while the money lenders not only took risks with American capitol but they also earned huge bonuses and pensions for themselves some even admitting that it was the most money they had made in their lives. Cramer confessed that he did not think that Bears & Stern were going to take America in.

Stewart continued, when the banks are trading our assets at 35:1, you do not think that something is going to break in the process? Cramer retorted, well from 1999 through 2006 people were making money hand over fist and no one was complaining. You would have thought someone was asking questions then, but as long as Americans were making money, no one cared. Stewart responded, “Selling the idea that you don’t have to do anything, sit back and we’ll do it for you is wrong”. Therefore, what it was worth, Cramer eventually admitted that he and many of his financial friends knew that something terribly was wrong and he too failed to admit it on his financial show!

Many of the people that were fleeced will not have time to make that money back and then who will take care of them in their old age. Stewart went on to say that “you can draw a straight line from some of the situation on your show and see those same behaviors were going on in the larger market and weren’t those markets huge. Trillions of dollars”,

“Where are the indictments for AIG?” says Cramer, looking wide-eyed and confused. Not losing a beat or allowing for empathy, Stewart continued, “It seems like your show” and those shows like yours “need to reconcile knowing that they were aware that the financial industry was on a Sherman March with our pension plans, savings, and 401k plans and selling the idea of don’t do anything, sit back and we will take care of you.

Someone needs to be made accountable for what has happened. Reactivating the * Glass-Steagall Act may not be enough. Since ethics went out the window long time ago, we need to rewrite the relationships between the Security Exchange Commission, the brokers, corporations they regulate, the markets they oversee and a whole new crop of regulators need to be heavily screened and hired. Anyone who participated in the debacles need their licensed retired forever. However, will we ever see such strong retribution? Not likely. Unfortunately, President Obama is trying to put a harness on the moving locomotive and find the brakes, but there does not seem to be a caboose on the train either which is why the Republicans rationalize, they do not want any parts of the stimulus package. Nevertheless, where were they when the train was being signaled on to the tracks? Maybe like some Democrats who were too busy running to the bank?

We can only pray that there is at the next station and an experienced brakeman can stop the train. . .

RESOURCES:
1. See: http://www.thedailyshow.com/full-episodes/index.jhtml?episodeId=220533

2. See http://www.thedailyshow.com/video/index.jhtml?videoId=220534&title=intro-brawl-street-get-ready-to&byDate=true

3. What Does Glass-Steagall Act Mean? An act passed by Congress in 1933 that prohibited commercial banks from collaborating with full-service brokerage firms or participating in investment banking activities.

Wednesday, February 25, 2009

Watermelons on the White House Lawn

According to the Orange County Register, he didn't send in in his official capacity however, but Dean Grose, the mayor of Orange County obvious thought there was "real humor" behind emailing this to a Keyanus Price, African American business woman.

Read the article, then get back to me . . .


http://www.ocregister.com/articles/mail-price-public-2317355-apology-people

Mayor Dean Grose's apology letter to the City Council, Price and her boss

I am deeply embarrassed in receiving your email, and for any harm or hurt that it may have caused. It was poor judgement on my part and was never intended to be offensive to Ms. Price, your company or anyone in the African American Community. I have exchanged emails with Ms. Price in the past.

I can fully understand your concerns and comments. Please be advised that I have left a voice mail for Ms. Price and will also be sending her a separate email with my apology. You can be assured that I will not allow this to happen again. I in no way was representing the City of Los Alamitos, or my role as a council member in sending this out and it went via my private business email. That doesn't justify the fact that it was sent, however, we gratefully appreciate the contributions that your company makes to our community and I wish to publically apologize to anyone within the firm or organization that may have been offended.

I am truly sorry.

Dean Grose

Well the ACLU doesn't think it is funny either . . . And someone asked me, "since Obama is in the White House, you don't need Black History any more, do you?" I'm waiting for that apology also. . . Peace Out,

Saturday, January 31, 2009

BLOG: Saturday, January 31, 2009. I’m happy to hear that on last Thursday, the United States Senate followed the United States House in passing a reauthorization of a child health insurance bill. I do remember twice Bush vetoed this bill. Just imagine 4 million more children in America will have access to health insurance, isn’t that a huge post Bush phenomenon. Another positive sign that the boat has oars with a new helmsman! Right on Obama.

Hope springs eternal and that even the Republicans are seeing change by having former Maryland Lt. Gov. Michael S. Steele, an African American at the lead. Depending on which Republican media pundit you listen to, they would have you believe that Steele’s role is just for PR purposes. Bull. Last I heard the person sitting on the top of the Republican Party had to be a “damn good fundraiser”, and in this economic market where money isn’t falling from the trees anymore, even banks are standing in line begging for governmental support. Now how effective Steele will be with his moderate views makes politics so interesting. Yes, bedfellows in politics get a little weirder and weirder if you take the time to read, to listen and to watch.

Some republicans are trying to say that media commentators weren’t saying that Mr. Blago Bully was a democrat. Blago was voted out of office and out of politics by a group of his own peers and the fallout from the criminal charges are still left to be resolved. Yes, he is a democrat and his behavior based on the information that we were provided was horrible. But I don’t remember anyone NOT saying he wasn’t the democratic governor from Illinois. What does raise my eyebrows was that Democratic strategist James Carvell originally poo-pooed the idea that Blago was under scrutiny in the first place and he said “there is wheeling and dealing going on all the time”. So is this why Blago doesn’t think he did anything wrong?

Hopefully there won’t be large court scenarios but the way Blago went out was heartbreaking to see a man who doesn’t know when he is caught. And if in fact this was politics as usual, I’m sure there are folks scrambling to clean house. Speaking of cleaning house. . . How many flaws can you find in this write up? On reading the White House Blog I found this little gem:


43. GEORGE W. BUSH 2001-2009
George W. Bush, the 43rd President of the United States, was sworn into office on January 20, 2001, re-elected on November 2, 2004, and sworn in for a second term on January 20, 2005. Prior to his Presidency, President Bush served for 6 years as the 46th Governor of the State of Texas, where he earned a reputation for bipartisanship and as a compassionate conservative who shaped public policy based on the principles of limited government, personal responsibility, strong families, and local control.
President Bush was born on July 6, 1946, in New Haven, Connecticut, and grew up in Midland and Houston, Texas. He received a bachelor’s degree in history from Yale University in 1968, and then served as an F-102 fighter pilot in the Texas Air National Guard. President Bush received a Master of Business Administration from Harvard Business School in 1975. Following graduation, he moved back to Midland and began a career in the energy business. After working on his father’s successful 1988 Presidential campaign, President Bush assembled the group of partners who purchased the Texas Rangers baseball franchise in 1989. On November 8, 1994, President Bush was elected Governor of Texas. He became the first Governor in Texas history to be elected to consecutive 4-year terms when he was re-elected on November 3, 1998.
President Bush worked with the Congress to create an ownership society and build a future of security, prosperity, and opportunity for all Americans. He signed into law tax relief that helped workers keep more of their hard-earned money, as well as the most comprehensive education reforms in a generation, the No Child Left Behind Act of 2001. This legislation ushered in a new era of accountability, flexibility, local control, and more choices for parents, affirming our Nation’s fundamental belief in the promise of every child. President Bush also worked to improve healthcare and modernize Medicare, providing the first-ever prescription drug benefit for seniors; increase homeownership, especially among minorities; conserve our environment; and increase military strength, pay, and benefits. Because President Bush believed the strength of America lies in the hearts and souls of our citizens, he supported programs that encourage individuals to help their neighbors in need.
On the morning of September 11, 2001, terrorists attacked our Nation. President Bush took unprecedented steps to protect our homeland and create a world free from terror. He was grateful for the service and sacrifice of our brave men and women in uniform and their families. The President believed that by helping build free and prosperous societies, our Nation and our friends and allies can succeed in making America more secure and the world more peaceful.
President Bush is married to Laura Welch Bush, a former teacher and librarian, and they have twin daughters, Barbara and Jenna. The Bush family also includes two dogs, Barney and Miss Beazley, and a cat, Willie.


I thought it was an amazing play on wording and one day maybe I’ll meet the wordsmith who must have been having a hard time putting this together.
See y’all later, Todd says there is no maid here, so I have a house to clean today . . . Minerva

Friday, January 30, 2009

A PICTURE SAYS A MILLION WORDS . . .

BLOG January 30, 2009. If you want to see an awesome picture of the inaugurational address, please check out Photographer David Bergman who is putting the “aweeeeeee luckie here” in a photo:

http://www.davidbergman.net/blog/2009/01/22/how-i-made-a-1474-megapixel-photo-during-president-obamas-inaugural-address/

I was totally surprise to find this little gem. He took a gigapan imager that consists of 220 shots all integrated into one enormous photograph. In his own words:
“My final photo is made up of 220 Canon G10 images and the file is 59,783 X 24,658 pixels or 1,474 megapixels. It took more than six and a half hours for the Gigapan software to put together all of the images on my Macbook Pro and the completed TIF file is almost 2 gigabytes.”
You can use the controls to zoom and pan around the photo.
You can also double click to zoom in and double click again to get even closer and see the scene in amazing detail and clarity.
And you can see close-up the expressions of your favorite — and least favorite — politicians and dignitaries as Obama makes his inaugural address.
After viewing this for over 30 minutes, I found the picture will take you into the crowd that is so vivid you will get to feeling of the largeness of the audience, expressions on people’s faces, and an instant in time. I’m sure you’ll never think of a photograph as “just another shot again”. The high resolution was astounding to me. The shot is also for sale framed, with and without the logo and in full color! I encourage you to go see this for yourself. ---- Minerva

Thursday, January 29, 2009

HISTORICAL BLAGO

BLOG January 29, 2009. The historical impeachment trial is underway in Illinois’ State Senate. 47 minutes of closing arguments were made by GOVERNOR BLAGO calling the whole procedure “a shame”. However, the senators will either “quit” or “acquit”.

Blago earnestly presented himself as “the man of the people” and he says this is what led to his being overwhelming nominated in 2000 and 2006 “by the people”. We learn Blago’s lead attorney asked him not to do a media blitz and consequently the attorney quit his representation.

Blago wasn’t under oath today, however, he presented himself as an anti tax guy, pro healthcare and an advocate of veterans, poor and the mentally ill. Depending on whom you listen to Blago seems to be milking the press, stroking what is left of a huge ego, and possibly connecting to those individuals he has helped in the past, who may eventually be called upon for jury duty. In all of his conversation selling Obama’s senate seat never came up.

We learn previous allies are distancing themselves for Blago and have asked Blago to simply resign, save him and the state more embarrassment but up to now Blago refuses to step down. It also came up that Andy Stern, President of the SEIU, met with Blago November 3rd. Blago had been an ally of the union. Stern agrees Blago came into public office with definitive comfortability and states that he wonders what caused Blago to start calling in “financial deals” and wonders what will happen and be said in a criminal court. News commentators speculate the reason he was making these deals is because Blago only had two years left in office. And he and his wife were shoring up “new opportunities” to keep them financially secure and in the political and power mix in Illinois.

It is believed Blago’s goals were always to be President of the United States. If he simply resigned and then work on rebuilding his credibility, over time, but Blago refuses to do this also. Instead Blago seemed to emphasize that he isn’t being given the opportunity to hear all of the Federal Prosecutors allegations. He seems to be confusing the procedures of a court of law which would allow him the opportunity to defend himself and then work through that court to determine his guilt or innocence. However, the senatorial process acts as a grand jury and isn’t based on due process of law. It is based on a hearing of enough charges to indicate that an excessive amount of behavior has been proven. The current procedure however, does have a clause that they can insist that he no longer enter political office ever again.

The 6th Amendment right Blago keeps referring to may seem confusing to the layperson listening to his claims. And the 6th Amendment is based on a criminal case. The senatorial procedure is not considered a criminal case, however some of the evidence found may be used in the case. So other pundits believe that Blago’s “running the mouth” is to denounce “a few open minds” or “cause a shadow of doubt” to any possible listening juror that may be called on when he goes to a criminal trial. Although Blago seems to be quite astute of law, some pundits believe that he is deliberately doing the media blitz to cause the future juror to believe he was treated unfairly. The Senatorial procedure is also reviewed by legislative officials, as a group of his peers, that are held to a much higher standard and ethic. The four incrimination tapes and the media blitz this week also doesn’t necessary waiver truth in Blago’s claims. Being a governor is not a right, but it is a responsibility and privilege which jurors must understand.

Blago’s name dropping by mentioning Oprah for senator and discussions with Edward M. Kennedy, Barack Obama and John McCain as well as releasing photographs and short videos with respected Democrats and Republicans is believed to not save him in a court of criminal law. An FBI representative read a series of allegations before the senate. David Ellis rebutted the allegations by the FBI and Blago. The Chief Justice of Illinois presided over the procedure. The question still remains will they deliver a “death sentence” which is an expression which means “a sentence to no longer run for any political office” to Blago. For a person who was desirous of running for President of the US this must be a major blow. The question is want antics will Blago bring up when he does answer criminal charges. Will he throw in the towel? The other question is Pat Quinn. Pat Quinn is the political outsider and stands to be the next presumptive Governor of Illinois. He has been the thorn in the side of the Democrats for many years and the question is “will he come out and play fairly as the new governor?”

Saturday, January 24, 2009

The First Day of Obama

This is from the White House Blog enjoy:

Wednesday, January 21st, 2009 at 1:27 pm
President Barack Obama's Inaugural Address

Yesterday, President Obama delivered his Inaugural Address, calling for a "new era of responsibility."


Inaugural Address


By President Barack Hussein Obama


My fellow citizens: I stand here today humbled by the task before us, grateful for the trust you've bestowed, mindful of the sacrifices borne by our ancestors.

I thank President Bush for his service to our nation -- (applause) -- as well as the generosity and cooperation he has shown throughout this transition.

Forty-four Americans have now taken the presidential oath. The words have been spoken during rising tides of prosperity and the still waters of peace. Yet, every so often, the oath is taken amidst gathering clouds and raging storms. At these moments, America has carried on not simply because of the skill or vision of those in high office, but because we, the people, have remained faithful to the ideals of our forebears and true to our founding documents.

So it has been; so it must be with this generation of Americans.

That we are in the midst of crisis is now well understood. Our nation is at war against a far-reaching network of violence and hatred. Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some, but also our collective failure to make hard choices and prepare the nation for a new age. Homes have been lost, jobs shed, businesses shuttered. Our health care is too costly, our schools fail too many -- and each day brings further evidence that the ways we use energy strengthen our adversaries and threaten our planet.

These are the indicators of crisis, subject to data and statistics. Less measurable, but no less profound, is a sapping of confidence across our land; a nagging fear that America's decline is inevitable, that the next generation must lower its sights.

Today I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time. But know this America: They will be met. (Applause.)

On this day, we gather because we have chosen hope over fear, unity of purpose over conflict and discord. On this day, we come to proclaim an end to the petty grievances and false promises, the recriminations and worn-out dogmas that for far too long have strangled our politics. We remain a young nation. But in the words of Scripture, the time has come to set aside childish things. The time has come to reaffirm our enduring spirit; to choose our better history; to carry forward that precious gift, that noble idea passed on from generation to generation: the God-given promise that all are equal, all are free, and all deserve a chance to pursue their full measure of happiness. (Applause.)

In reaffirming the greatness of our nation we understand that greatness is never a given. It must be earned. Our journey has never been one of short-cuts or settling for less. It has not been the path for the faint-hearted, for those that prefer leisure over work, or seek only the pleasures of riches and fame. Rather, it has been the risk-takers, the doers, the makers of things -- some celebrated, but more often men and women obscure in their labor -- who have carried us up the long rugged path towards prosperity and freedom.

For us, they packed up their few worldly possessions and traveled across oceans in search of a new life. For us, they toiled in sweatshops, and settled the West, endured the lash of the whip, and plowed the hard earth. For us, they fought and died in places like Concord and Gettysburg, Normandy and Khe Sahn.

Time and again these men and women struggled and sacrificed and worked till their hands were raw so that we might live a better life. They saw America as bigger than the sum of our individual ambitions, greater than all the differences of birth or wealth or faction.

This is the journey we continue today. We remain the most prosperous, powerful nation on Earth. Our workers are no less productive than when this crisis began. Our minds are no less inventive, our goods and services no less needed than they were last week, or last month, or last year. Our capacity remains undiminished. But our time of standing pat, of protecting narrow interests and putting off unpleasant decisions -- that time has surely passed. Starting today, we must pick ourselves up, dust ourselves off, and begin again the work of remaking America. (Applause.)

For everywhere we look, there is work to be done. The state of our economy calls for action, bold and swift. And we will act, not only to create new jobs, but to lay a new foundation for growth. We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together. We'll restore science to its rightful place, and wield technology's wonders to raise health care's quality and lower its cost. We will harness the sun and the winds and the soil to fuel our cars and run our factories. And we will transform our schools and colleges and universities to meet the demands of a new age. All this we can do. All this we will do.

Now, there are some who question the scale of our ambitions, who suggest that our system cannot tolerate too many big plans. Their memories are short, for they have forgotten what this country has already done, what free men and women can achieve when imagination is joined to common purpose, and necessity to courage. What the cynics fail to understand is that the ground has shifted beneath them, that the stale political arguments that have consumed us for so long no longer apply.

The question we ask today is not whether our government is too big or too small, but whether it works -- whether it helps families find jobs at a decent wage, care they can afford, a retirement that is dignified. Where the answer is yes, we intend to move forward. Where the answer is no, programs will end. And those of us who manage the public's dollars will be held to account, to spend wisely, reform bad habits, and do our business in the light of day, because only then can we restore the vital trust between a people and their government.

Nor is the question before us whether the market is a force for good or ill. Its power to generate wealth and expand freedom is unmatched. But this crisis has reminded us that without a watchful eye, the market can spin out of control. The nation cannot prosper long when it favors only the prosperous. The success of our economy has always depended not just on the size of our gross domestic product, but on the reach of our prosperity, on the ability to extend opportunity to every willing heart -- not out of charity, but because it is the surest route to our common good. (Applause.)

As for our common defense, we reject as false the choice between our safety and our ideals. Our Founding Fathers -- (applause) -- our Founding Fathers, faced with perils that we can scarcely imagine, drafted a charter to assure the rule of law and the rights of man -- a charter expanded by the blood of generations. Those ideals still light the world, and we will not give them up for expedience sake. (Applause.)

And so, to all the other peoples and governments who are watching today, from the grandest capitals to the small village where my father was born, know that America is a friend of each nation, and every man, woman and child who seeks a future of peace and dignity. And we are ready to lead once more. (Applause.)

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with the sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

We are the keepers of this legacy. Guided by these principles once more we can meet those new threats that demand even greater effort, even greater cooperation and understanding between nations. We will begin to responsibly leave Iraq to its people and forge a hard-earned peace in Afghanistan. With old friends and former foes, we'll work tirelessly to lessen the nuclear threat, and roll back the specter of a warming planet.

We will not apologize for our way of life, nor will we waver in its defense. And for those who seek to advance their aims by inducing terror and slaughtering innocents, we say to you now that our spirit is stronger and cannot be broken -- you cannot outlast us, and we will defeat you. (Applause.)

For we know that our patchwork heritage is a strength, not a weakness. We are a nation of Christians and Muslims, Jews and Hindus, and non-believers. We are shaped by every language and culture, drawn from every end of this Earth; and because we have tasted the bitter swill of civil war and segregation, and emerged from that dark chapter stronger and more united, we cannot help but believe that the old hatreds shall someday pass; that the lines of tribe shall soon dissolve; that as the world grows smaller, our common humanity shall reveal itself; and that America must play its role in ushering in a new era of peace.

To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect. To those leaders around the globe who seek to sow conflict, or blame their society's ills on the West, know that your people will judge you on what you can build, not what you destroy. (Applause.)

To those who cling to power through corruption and deceit and the silencing of dissent, know that you are on the wrong side of history, but that we will extend a hand if you are willing to unclench your fist. (Applause.)

To the people of poor nations, we pledge to work alongside you to make your farms flourish and let clean waters flow; to nourish starved bodies and feed hungry minds. And to those nations like ours that enjoy relative plenty, we say we can no longer afford indifference to the suffering outside our borders, nor can we consume the world's resources without regard to effect. For the world has changed, and we must change with it.

As we consider the role that unfolds before us, we remember with humble gratitude those brave Americans who at this very hour patrol far-off deserts and distant mountains. They have something to tell us, just as the fallen heroes who lie in Arlington whisper through the ages.

We honor them not only because they are the guardians of our liberty, but because they embody the spirit of service -- a willingness to find meaning in something greater than themselves.

And yet at this moment, a moment that will define a generation, it is precisely this spirit that must inhabit us all. For as much as government can do, and must do, it is ultimately the faith and determination of the American people upon which this nation relies. It is the kindness to take in a stranger when the levees break, the selflessness of workers who would rather cut their hours than see a friend lose their job which sees us through our darkest hours. It is the firefighter's courage to storm a stairway filled with smoke, but also a parent's willingness to nurture a child that finally decides our fate.

Our challenges may be new. The instruments with which we meet them may be new. But those values upon which our success depends -- honesty and hard work, courage and fair play, tolerance and curiosity, loyalty and patriotism -- these things are old. These things are true. They have been the quiet force of progress throughout our history.

What is demanded, then, is a return to these truths. What is required of us now is a new era of responsibility -- a recognition on the part of every American that we have duties to ourselves, our nation and the world; duties that we do not grudgingly accept, but rather seize gladly, firm in the knowledge that there is nothing so satisfying to the spirit, so defining of our character than giving our all to a difficult task.

This is the price and the promise of citizenship. This is the source of our confidence -- the knowledge that God calls on us to shape an uncertain destiny. This is the meaning of our liberty and our creed, why men and women and children of every race and every faith can join in celebration across this magnificent mall; and why a man whose father less than 60 years ago might not have been served in a local restaurant can now stand before you to take a most sacred oath. (Applause.)

So let us mark this day with remembrance of who we are and how far we have traveled. In the year of America's birth, in the coldest of months, a small band of patriots huddled by dying campfires on the shores of an icy river. The capital was abandoned. The enemy was advancing. The snow was stained with blood. At the moment when the outcome of our revolution was most in doubt, the father of our nation ordered these words to be read to the people:

"Let it be told to the future world...that in the depth of winter, when nothing but hope and virtue could survive... that the city and the country, alarmed at one common danger, came forth to meet [it]."

America: In the face of our common dangers, in this winter of our hardship, let us remember these timeless words. With hope and virtue, let us brave once more the icy currents, and endure what storms may come. Let it be said by our children's children that when we were tested we refused to let this journey end, that we did not turn back nor did we falter; and with eyes fixed on the horizon and God's grace upon us, we carried forth that great gift of freedom and delivered it safely to future generations.

Thank you. God bless you. And God bless the United States of America. (Applause.)