China launching cyber attacks against Defense Dept | Campaign 2012 | Washington Examiner

Article courtesy of The Washington Examiner.

The Chinese government is increasingly lauching cyber attacks against the United States Defense Department  (DOD) for intelligence purposes, according to a new government report on the Chinese military.

“I think we have concerns about a number of computer network operations and activities that appear to originate from China that affect DOD networks,” David Helvey, acting assistant Secretary of Defense for East Asia told reporters today.

“China’s persistent cyber intrusions indicates the likelihood that Beijing is using cyber network operations (CNOs) as a tool to collect strategic intelligence,” Defense Department added in its 2012 report to Congress on Military and Security Developments involving the People’s Republic of China.

Helvey chose not to specify, in the briefing, who was behind the attacks, but he said the United States is concerned about China’s cyber war investments.

“We note that China’s investing in not only capabilities to better defend their networks but also they’re looking at ways to use cyber for offensive operations,” he said. “There is the potential for these types of operations to be very disruptive, disruptive not only in a conflict, could be very disruptive to the United States, but other countries as well.”

via China launching cyber attacks against Defense Dept | Campaign 2012 | Washington Examiner.

What End of Bush Tax Cuts Means for You – Yahoo! Finance

The so-called Bush tax cuts are scheduled to expire at the end of this year. While you may already know that, you may not fully understand what’s in store for you and your family. Here’s what to expect.

Higher Tax Rates for All

You may think only individuals in the top two brackets will face higher federal income taxes if the Bush cuts go bye-bye as scheduled on Jan. 1, 2013. Not true. Unless Congress takes action and the president goes along (whoever that is), rates will go up for everyone — not just “the rich.” Specifically, the existing 10% bracket will go away, and the lowest “new” bracket will be 15%. The existing 25% bracket will be replaced by the “new” [continue reading in new window...]

China pursuing steady military build-up: Pentagon – Yahoo News

Excerpt: The report warned that “Chinese actors are the world’s most active and persistent perpetrators of economic espionage,” and predicted that those spying efforts would continue, posing “a growing and persistent threat to US economic security.”

China is exploiting Western commercial technology, carrying out aggressive cyber espionage and buying more anti-ship missiles as part of a steady build-up of military power, the Pentagon said Friday.

Beijing is working to take advantage of “mostly US” defense-related technologies in the private sector as part of a long-running effort to modernize the country’s armed forces and extend China’s reach in the Asia-Pacific region, the Pentagon wrote in a report to Congress.

“One of the PRC’s (People’s Republic of China) stated national security objectives is to leverage legally and illegally acquired dual-use and military-related technologies to its advantage,” it said.

And China, which has the world’s [continue reading in new window...]

Russia’s Asia Play Mustn’t be Ignored | The Diplomat

The U.S. risks making a serious strategic error if it neglects Russia. As the White House and Pentagon look to the Pacific, Moscow and China are making moves of their own.

Russian President Vladimir Putin’s decision to skip both theG-8 and the NATO summits this month suggests he plans to delegate relations with the West as much as possible to his deputy, Dmitri Medvedev, while he concentrates his diplomatic efforts in the former Soviet republics of Eurasia and the emerging economic powerhouses of East Asia.

Putin is a leading advocate among Russian leaders of deepening Russia’s Asian connections, and the Pentagon and the White House need to orient their Asian pivot properly to address Moscow’s new Asian orientation. With this in mind, trying to influence Russia’s relationship with [continue reading in new window...]

Thousands of protesters gather for pre-NATO rally in Chicago | ajc.com

CHICAGO — Thousands of nurses and other protesters began gathering at a downtown Chicago plaza Friday to demand a “Robin Hood” tax on banks’ financial transactions, the largest protest yet ahead of a two-day NATO summit that is expected to draw even larger demonstrations.

National Nurses United officials expect about 2,000 nurses to attend Friday’s rally to call for the tax to offset cuts in social services, education and health care. They were joined by members of the Occupy movement, unions and veterans.

City officials say the event could draw more than 5,000 people because of a [continue reading in new window...]

Arizona Secretary of State Threatens to Remove Obama from Ballot | White House Dossier

Arizona Secretary of State Ken Bennett is threatening to keep President Obama’s name off the state’s ballot in November unless he receives confirmation from Hawaii that it has a valid birth certificate on file for him.

Bennett, who spoke to Arizona radio host Mike Broomhead Thursday, said he requested the confirmation eight weeks ago and has not gotten it. Hawaii, he said, does [continue reading in new window...].

Facebook Shares Cool After IPO – WSJ.com

Shares of Facebook Inc. FB +8.66% opened about 11% higher after they started trading, but quickly lost steam and fell as low as the$38 IPO price in their first half hour of trading.

The weak start came after high expectations for the Internet giant. The company’s shares were recently changing hands up $1.58, at $39.62, after touching the $38 IPO price about a half hour after it started trading. The stock had opened at $42.05.

Underwriters stepped in to support the company’s shares at the IPO price, according to a person familiar with the [continue reading in new window...]

Forget Greece, China Biggest Risk to Global Economy – CNBC

Forget Greece, which is an “insignificant” economy, it is China that poses the biggest risk to the global economy, Marc Faber the editor and publisher of the Gloom, Boom and Doom report told CNBC on Friday.

“I think the biggest risk is actually China because if you look at Greece, it’s an insignificant economy,” Faber said on CNBC Asia’s “Capital Connection.” ”Yes, they owe money, but the market knows that it’s bankrupt.”

The European Central Bank will be able to [continue reading in new window...]

Even $3 Trillion Can’t Buy China Love or Good PR – Bloomberg

China’s $3.3 trillion of currency reserves are a nice thing to have when you want to polish your image. Even if money can’t buy you love, it sure can buy lots of positive buzz.

The most-populous nation has been throwing tens of billions of dollars at its prestige deficit for a decade, all part of an effort to enhance China’s soft power, something of which the U.S., for all its crises, has a surplus. Why else would Chinese dissidents head to U.S. shores, or embassies, for shelter? Why do so many wealthy Chinese, and government reserve managers, see the dollar and the U.S. legal system as a haven?

The priciest public-relations expenditure was the 2008 Beijing Olympics, which by some estimates cost $40 billion. The country has financed roads in Brazil, bridges in Zambia, power grids in Cambodia and mining rigs in Uzbekistan. It established Confucius Institutes for Chinese language and culture on 75 U.S. college campuses. It started CCTV America to [continue reading in new window...]