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Happy Carrulim Day

Today is August 1, an (in)auspicious day in Paraguay.  It’s traditionally the day when Paraguayans drink Carrulim, a homemade concoction of sugar cane, root, and lemon that makes a potent, sour tonic that Paraguayans claim promotes health, happiness, and protection from maladies (in Korean culture, that honor is reserved for kimchi).  It’s an old Guarani belief that manifests itself in a spirit that is passed around a group of native Paraguayans and Guarani aficionados who believe they must drink Carrulim to survive from year to year.  (The Guarani represent the largest indigenous group in Paraguay–the Guarani language and culture are ingrained in the Paraguayan psyche.)  The word “Carrulim” itself is derived from the drink’s three main components.  I have to admit that I did not have a chance to try some Carrulim today, although my Guarani teacher promised to brew some for us to taste tomorrow in class.  ABC Color, one of Asuncion‘s three main daily newspapers, published an article (in Spanish) about Carrilum Day:
Today is also notable in Paraguayan history because of the Ycua Bolanos supermarket fire, a tragedy that left over 400 people dead and 400 injured.  It is single deadliest event in modern Paraguayan history since the 1930’s.  On Sunday, August 1, 2004, while hundreds of shoppers shopped, cashed paychecks, and ate in a large food court, a fire broke out in the large supermarket in Asuncion.  The owner alleged ordered all doors chained shut to prevent looting, preventing the victims from escaping.  Those brought up on charges were acquitted earlier this year, leading to extensive rioting.  The courts initiated a second review and may overturn the previous ruling.
Today also marks the day after the Supreme Court of Justice referred Lino Oviedo‘s case to the Military Court for possible amnesty.  The former general and head of UNACE, a opposition party, was recently absolved of culpability in the assassination of former Vice President Argana and the 1999 student massacre, paving the way for President Duarte and the Military Court to pardon him for his alleged involvement in the 1996 failed coup against former President Wasmosy.  It all adds up to a possible presidential run in 2008.  If Oviedo is pardoned, he would be free to run for president. 
Pass the Carrulim.  I think I need some.

Xinjingshan

The Chinese call San Francisco, California “Jiujingshan,” or “Old Gold Mountain” in reference to the great California Gold Rush, when thousands of Chinese immigrated to the U.S. West Coast and sought their fortunes as gold miners.  The atmoshere in Shanghai today is so animated that one could call Shanghai “Xinjingshan,” or “New Gold Mountain.”  The most apt metaphor to describe the feeling here now is that of a “gold” rush where “gold” is the virtual accumulation of capital through booming economic growth.  So much money has been pumped into the local economy since 2001 by the government and foreign investment that the trickle-down effect in Shanghai truly is a torrent.  Real estate is the main currency changing hands, super-heating the local economy.  For example, peasants who once farmed land in suburban Shanghai sold off their farmland for urban development projects, earning a tidy sum that helped them buy new homes and farmland.  Retired workers with some money bought apartments and are now sitting on large capital gains.  Skilled workers have turned modest incomes into substantial real estate and investment portfolios.  Students who once turned to state-owned enterprises for jobs are now striking out on their own, hoping to get rich.  It is really quite amazing to see the changes here.  The changes in attitude that I wondered about when I visited Shanghai in 2002 have now begun to change at a rapid rate.  There are many have-nots, and the number of poor has risen dramatically in the new millennium.  However, for many Shanghainese, the recent development boom has very positive experience.

On Sunday I visited a gorgeous home located in suburban Shanghai.  Located about 15 kilometers from the city center, it is in one of many, many new suburban developments.  The new home cost about $350,000 for the lot and structure; the owner put many more thousands of dollars into the interior (in China, new home are unfinished, and the new owner must contract with interior design companies and construction firms to finish the interiors).  The house is located in an exclusive gated community.  The backyard fronts a canal formerly used as an irrigation waterway.  This community is much like any upscale American community and is one of hundreds recently developed or now under development in and around Shanghai.  I wondered who could afford all these new homes.  After all, the real estate market in Shanghai appears to be valued on par with that of Phoenix, Arizona, while the median per capita income of Chinese is less than 1/20 of Americans.  While Shanghainese are among the wealthiest in China, the median per capita income is still far below that of Americans.  So how can they buy these expensive homes?

The answer to this perplexing question is that increasing real estate values and entrepreneurial drive of Shanghainese has led to a dramatic increase in personal wealth over a very short period of time.  For many Shanghainese, the boom has led to instant wealth augmented by purchases of real estate and the accelerated appreciation of home and land values.  Locals who bought homes worth $50,000 in 1999 now live in $250,000 homes, and those who were smart enough to sell a $250,000 home in 2000 and buy two $125,000 homes now have two $300,000 homes.  Those who engage in home or business leasing have done even better.  While this is amazing and a mostly positive development for China, it leads me to wonder whether Shanghai–and China–face the possibility of economic bust in the next decade.  It is very difficult to sustain such high rates of economic growth and a real estate boom without eventual downturns–even recessions.  If and when a downturn happens, it does not bode well for an area like Shanghai now highly dependent on continued aggressive economic growth.

 

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Straight from the Headlines (2006 Edition)

Luxembourg and Germany to Co-Host 2006 World Cup

Zurich, Switzerland (RFN) – The Federation Internationale de Football Association (FIFA) announced today that Luxembourg will join Germany in co-hosting the 2006 World Cup, the world’s premier football event.  Following the announcement, a jubilant crowd of 35 Luxembourgers gathered near Luxembourg City Stadium shouting “Vive Luxembourg!”  FIFA’s unexpected decision followed recent efforts by the European Union to assuage strained relations between the two EU member states.  FIFA’s move also mitigates mounting concerns that Germany will have difficulty single-handedly hosting the world’s largest single-sport competition.

“The joining of Luxembourg and Germany today to co-host this event shows the power of nations working together to promote world peace,” said FIFA President Joseph S. Blatter.  “We hope that the only conflict will take place on the football field.  Our referees will keep their yellow cards handy.”

Tensions between the two countries rose recently following a controversial speech given by Dresden Alderman Georg Schtimmpf.  In it, he claimed that the name “Luxembourg” originated from the German language, contrary to the view of Luxembourger scholars who consider the name to be French.  Despite Luxembourger demands for an apology, the German Parliament declined to take action.  Alderman Schtimmpf has gone into hiding and was unavailable for comment.  So far this year several Germans and Luxembourgers have been injured following mishaps with German and Luxembourger beer and wine bottles.

FIFA has not yet announced whether the Luxembourg national football team will receive automatic entry into the World Cup.  Luxembourg has not announced whether it will field a team.

Disgruntled Voters Launch Utopian Party

Boston (RFN) – Delegates from around the United States representing frustrated voters rallied today near Boston Harbor and announced the founding the Utopian Party, a new party for disillusioned American voters.  50 Utopian Party delegates representing each U.S. state spent two days behind closed doors negotiating their new party’s platform.  The party announced its intention to nominate Congressman Bernard I. Sanders (I-Vermont) to head the new party.  It will formally ask the Congressman to assume party leadership at its upcoming convention.  Confidental sources assert that Billionaire Ross Perot, Commentator Pat Buchanan, and former Senator Jim Jeffords of Vermont are also potential candidates to lead the new party.  Interim spokesperson Ariana Huffington declined comment on news that she would serve as interim Utopian Party leader.

Invoking images of the Boston Tea Party, delegates expressed frustrations over the two major political parties, citing several instances where the parties failed to deliver results.  In her initial press briefing, Spokesperson Huffington stated, “The two major parties have failed us.  The Utopian Party will be different.  We will promise everything to everyone so that when something happens, we can honestly say that we did what we said we would do.  We are tired of promises without results, and you are too.  The Utopian Party’s promises will fit the results.”

The Utopian Party will reconvene in Los Angeles next month and begin seeking candidates for the 2006 U.S. election.

Hyundai Air Earns Record Profits on Manufactured Air

Seoul, Korea (RFN) – Yesterday investors sent the price of Hyundai Air (KOSPI:HAIR) soaring in late trading on news that it recorded record profits during the first quarter of 2006.  Hyundai Air, a subsidiary of the Hyundai Group, earned a record U.S. $1.6 billion on sales of $6.3 million drivenly largely by a 153% increase in sales of manufactured air.

Hyundai Air’s special air manufacturing process, patented in 2004, has won it substantial business worldwide, earning the company a 3% global market share.  Nature still retains 97% of the market, a figure that Hyundai Air hopes to match in the next few years.  According to Spokeperson Kim Bum Suk, “We’re well on our way to successfully adding value to a commodity product.  Customers prefer value-added products over commodities.  At Hyundai, we want our customers to rely on us for everything.  We want them to buy their Hyundai car, cell phone, computer, and television at the Hyundai Department Store and take them home to their Hyundai apartment.  Hyundai Air is a natural fit for the Hyundai lifestyle.”

Hyundai Air was founded in 2003 by its corporate parent to complement a wide range of products that meet every need.  In addition to manufactured air, the Hyundai Group offers consumers a vast array of goods and services available at virtually any retail outlet.  Riding upward momentum of Hyundai Air, the Hyundai Group established a new airline, Hyundai Airline, that will begin worldwide operations in late 2006.  Investors looking for corporate synergies are hopeful that the exhaust from Hyundai Airline jets will help drive demand for manufactured air and that Hyundai Air will in turn keep the airline afloat.

Pitt and Jolie Caught Breathing on Tape

Hollywood (RFN) – The April edition of Paparazzi Magazine (PM) reveals that Hollywood megacouple and actors Brad Pitt and Angelina Jolie disrupted their film dialogue to breath together during several scenes in the hit movie “Mr. and Mrs. Smith.”  The film, starring Pitt and Jolie as a husband and wife who double as secret agents hired to kill one another, earned over $186 million at the box office and sparked the match-made-in-Hollywood romance that led to the megacouple’s marital merger.

PM Reporter Cecil Broadside uncovered the breathing during several movie viewings while preparing to cover their covert wedding ceremony.  “I couldn’t believe.  It was right there, and no one caught it.  You heard it here first,” Broadside wrote in the article entitled “Brad Pitt:  From Chicken Suit to Stardom.”

Actress Jennifer Aniston was not available for comment and declined to discuss her break up with Pitt.  She is currently on the talk-show circuit promoting her upcoming movie “The Break-Up” co-starring Vince Vaughn.  No word yet on a possible intimate pairing of Aniston and Vaughn.

ACLU Seeks an End to April Fool’s Day

Los Angeles (RFN) – The American Civil Liberties Union (ACLU), citing possible civil rights violations on April Fool’s Day, plan lawsuits to end practical jokes.  The ACLU asks those who are potential victims of April Fool’s Day pranks to contact the April Fool’s hotline at their earliest convenience.  The ACLU will prepare cases for eligible claims in an effort to combat this offensive practice.  If you believe you have wrongly duped by an April Fool’s Day joke or prank and seek redress, contact the ACLU at 968-3665 (YOU-FOOL).

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