The vote in Greece is running 60 percent “No” on the terms of its creditors. The same experts who had been predicting a close vote will now explain why it was a runaway in favor of … well, who knows. But count on the usual confident voices to sort it all out.Read more
September 12 was a momentous day for Europe. It saw three separate events that in a powerful way may come to remake the European Union. First, Germany’s Constitutional Court ruled that the nation’s parliament can ratify a new, permanent rescue fund for the eurozone, called the European Stability Mechanism, to the tune of some $645 billion in taxpayer money. The European Union would have been forced into an immediate financial crisis of unprecedented magnitude had the court declared the bailout illegal.Read more
"I don't think ultimately that the Europeans will let the Euro unravel, but they are going to have to take some decisive steps ... and I am spending an enormous amount of time, trying to work with them. The sooner that they take some decisive action, the better off we are going to be," Barack Obama, July 30, 2012.Read more
A new chart, set to be released later today by the minority office of the Senate Budget Committee, finds that, in the next five years, "U.S. Per Person Debt To Increase 7 Times Faster Than Italian Debt."Read more
Steve Hayes, with Rick Klein and Charles Krauthammer, last night on Fox News:Read more
According to figures provided by the International Monetary Fund, and compiled into this easy to read chart by the Republican side of the Senate Budget Committee, America will "spend 60 percent more per person than Spain over [the] next 5 years."Read more
The eurozone might be cracking up, but as far as debt goes, America appears to be in worse shape than the entire eurozone in the long run. According to a new chart set to be released later today by the Republican side of the Senate Budget Committee, America is on track "to add three times more debt than [the] eurozone over [the next] 5 years."Read more
A cynic would be tempted to compare the eurozone to Ryou-Un Mara, the rusty Japanese ghost ship that floated across the Pacific after last year’s earthquake. Some wrecks surprise us by staying afloat for a long time, but that does not make them less of a wreck.Read more
The Republican side of the Senate Budget Committee will release this chart later today, clearly showing that America's debt is greater than the combined debt of the entire Eurozone and the U.K.:Read more
Standard & Poor’s warning that no less than fifteen eurozone states, including Germany, could lose their AAA credit rating has been met with howls of protest from leading German politicians.Read more
Associated Press: "Obama donor discussed solar loan with White House"
Associated Press: "Penn State trustees oust football coach Joe Paterno, president Graham Spanier"Read more
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