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Monday, July 18, 2011

"Lame Stream Media" from around the world seems to have some idea what's going on:


Saturday July 16,2011

By Daily Express reporter

EXPERTS last night warned Europe has only 48 hours to save the single currency (euro) amid concern over the failure to seal a new rescue plan for debt-laden Greece.

The inability of politicians to agree a solution to the financial crisis threatening Europe sparked market jitters as continued uncertainty threatened to undermine the eurozone. One City executive said: “We need to come in on Monday morning and see something happening, otherwise I fear the worst.”

There are concerns that Italy and Spain could follow Greece, Portugal and Ireland in going broke and needing bailouts from richer countries to keep afloat.

Republicans’ Budget Balance Short on Details

July 16 (Bloomberg) -- President Barack Obama speaks about negotiations between lawmakers over raising the U.S. debt ceiling. Obama, speaking in his weekly radio and Internet address, says Republican lawmakers should agree to raising revenue in any deficit-cutting deal, noting he has agreed to consider cuts to entitlement programs such as Medicare. (Source: Bloomberg)

Congressional Republicans are clear in their demand for a constitutional amendment forcing the government to balance its budget. What they’re not offering is clarity on how to get there.

It’s politically popular to line up behind such an amendment; laying out specific cuts is less appealing.

July 18, 2011, 5:42 a.m. EDT

Gold futures rise above $1,600 an ounce

Worries over euro-zone crisis and U.S. debt ceiling boost gold

By Polya Lesova and Virginia Harrison, MarketWatch

LONDON (MarketWatch) — Gold futures rallied above $1,600 an ounce in electronic trading on Monday, as concerns about the euro-zone debt crisis and the lack of agreement on raising the U.S. debt ceiling prompted investors to seek a safe haven in the precious metal.

And of course, the Lame Stream's own Fox News: 3 articles about what a dope Obama is, an how inconsequential the debt ceiling problem is. Thank Gold somebody gets it:

President Obama Doesn't Know the First Thing About Economics


Published July 16, 2011

The president’s press conference on Monday epitomized the “do something” nature of his administration. He wants to do something about … well, everything—from getting more kids into college to fighting global warming (although the latter is less evident these days, at least in public). The trouble is that he thinks he needs more and more of our money to do it, so he wants any budget deal to include tax rises.

Published July 17, 2011


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