Looks like the Pres finally grew a pair, (as a good friend of mine said this morning). We'll see what happens I suppose.
No doubt there will be an agreement but they'll want to drag it on as long as possible, each side jockeying for the best publicity to show to their various bases. Both sides looking only to 2012 elections which, if we're all lucky, will be cut short by some ELE! LOL
Thanks this morning to the Ozarker at Conflicted Doomer and RJ at Global Glass Onion.
Be sure to visit their blogs and support their work.
See you guys tomorrow. Now for the News!
ExtinctionProtocol: Monster typhoon expected to slam into south Japan next week
Cryptogon: Fukushima Cleanup Recruits ‘Nuclear Gypsies’ from Across Japan
Four months on from the start of the world’s worst nuclear crisis since Chernobyl, this hot-spring resort in north-east Japan has been transformed into a dormitory for 2,000 men who have travelled from across the country to take part in the clean-up effort 30 miles away at the Fukushima Daiichi power plant.
Bloomberg: Hopes Dim for U.S. Bid to Spur Mideast Peace Via Trade
TheAtlanticWire: Bomber Attacks Memorial Service for Karzai's Half Brother
MSNBC: Gadhafi running low on cash and fuel, US intelligence reports say
Libya also faces food shortage, government minister warns
EnglishRFI: Fresh violence kills 14 in Karachi
BBC: Sudan's South Kordofan fighting: 'Mass graves found'
Satellite images show mass graves following recent fighting in Sudan, a campaign group set up by Hollywood star George Clooney says.
The Satellite Sentinel project says the apparent massacre took place in the town of Kadugli, in South Kordofan.
Hosted: Syrian forces open fire from cars, killing 2
SeattlePI: Egypt fires hundreds of police as protests grow
UPI: Abbas: Talks fail; time for statehood
RAMALLAH, West Bank, July 13 (UPI) -- Palestinian President Mahmoud Abbas says European attempts to revive peace talks with Israel have failed and he will go for U.N. recognition of statehood.
GlobeandMail: Afghan civilian war deaths hit record level
Civilian deaths hit a record high, up 15 per cent on the first half of 2010, due to roadside and suicide bombings, increased ground fighting and more deadly air strikes.
MSNBC: Police search for clues in deadly Mumbai blasts
Officials lower death toll to 17; blame attacks on Islamist group
BeforeItsnews: The Next Big Hit To The Economy?
ZeroHedge: The Big Banks Are Waging Warfare Against the People of the World
BusinessInsider: Do Low Tax Rates On Rich People Actually Ruin The Economy?
But another one of the contentions of today's Republican party is that high income tax rates are always bad for the economy, because they deprive people of an incentive to work hard, thus making us a nation of lazy good-for-nothings.
This argument has been repeated so often and for so long that it is now basically regarded as fact.
But, interestingly, the history of income tax rates in the US actually suggests that it may be b.s.
CBSMoneyWatch: Did Republicans Just Force the Fed Into QE3?
MSNBC: Bernanke repeats Fed to act if recovery stumbles
Central bank could put more monetary stimulus into play, Fed chief says
VancouverSun: Obama ends tense debt talks with a warning
NPR: Why Prosecutors Don't Go After Wall Street
When the energy giant Enron collapsed 10 years ago, top executives of the company faced criminal prosecution, and many served lengthy prison terms. In the savings and loan scandal of the 1980s, hundreds of bankers went to jail.TPM: Obama: Enough is Enough in Debt Talks, ‘This May Bring My Presidency Down, But I’m Not Yielding’
But the financial meltdown of 2008 hasn't generated a single prosecution of high-level Wall Street players — even though the Securities and Exchange Commission has brought civil cases against some companies and reached financial settlements.
That's a result of new guidelines issued by the Justice Department in 2008, which have allowed prosecutors to take a "softer approach" to corporate crimes. The guidelines — known as deferred prosecution agreements — have permitted financial companies to avoid indictments if they agree to investigate and report their own crimes.
Boston.com: Obama warns GOP leaders: 'Don't call my bluff'
BusinessInsider: Cantor Says Obama Stormed Out Of Debt Ceiling Meeting, As All Progress In Talks "Erased"
Reuters: Analysis: Murdoch's newspaper crisis causes jitters in U.S.
(Reuters) - When Rupert Murdoch swooped in to buy the Wall Street Journal in 2007, it sparked fears that the venerable newspaper brand would suffer by being housed under the same roof as News Corp's tabloids.
Bloomberg: Bars Count Shots as Minnesota Shutdown Threatens Booze Reserves
Trevor Berg says he’ll have no choice but to close Hoss’ All American Liquor store in Walker, Minnesota, if the state government shutdown drags on: The $20 permit Berg needs to restock his wares expires July 17.
BusinessInsider: Welcome To Argentina, Where It's A Criminal Offense To Report The Rate Of Inflation
ExtinctionProtocol: We are one major scare away from global financial markets unraveling
WashingtonPost: Warning to Washington: Don’t mess with the debt ceiling
CreditWritedowns: Greece now, America in due course
EVRO: Crisis? What crisis?
This was the day when the German government said that it could see no reason for a European summit, and when a German bank pulled out of the stress tests on the grounds that it failed them. As the eurozone financial crisis is spreading to Spain and Italy, where spreads were rising again after a short reprieve, Germany’s demonstrative complacency suggests that the risk of a big accident in the next few days has increased.
Economix: Are Bank Examiners to Blame for Slow Job Growth?
TheTelegraph: Fitch downgrades Greece to CCC
Fitch ratings agency announced on Wednesday it was downgrading Greece's status by three points to CCC status from its previous rating of B+.
WashingtonPost: Elizabeth Warren to face congressional scrutiny
Eurekalert: Rise in risk inequality helps explain polarized US voters
COLUMBUS, Ohio – A new study of political polarization in the United States suggests that changes in the labor market since the 1970s has helped create more Republican and Democratic partisans and fewer independents.
Bloomberg: Moody’s Places 7,000 Municipal Ratings Tied to U.S. on Downgrade Review
Economist'sView: Fed Watch: A Nod to QE3?
NewsinEconomics: What do Spain and Vietnam have in common?
BusinessInsider: Here's A Great Example Of Wall Street Not Understanding How Washington Works
CBSMoneyWatch: Debt Ceiling Debacle: Who Gets Paid First?
BusinessInsider: A Mini Monsoon Of Economic Data Is Out
ActivistPost: The Debt Ceiling Show Must Go On
Reuters: Jobless claims fall, but still above 400,000
(Reuters) - New claims for unemployment benefits fell last week, the Labor Department said on Thursday, though the previous week's figures were revised higher.
Reuters: June retail sales edged up on autos, gasoline drops
WashingtonPost: Top Republicans clash over debt-limit plan
USDeptofLabor: UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT
SeattleTimes: Researcher: China worried about US economy
CNBC: The US Needs a Recession: Economist
“For the last two years, it has been perfectly clear that we cannot lift ourselves out of this recession,” says Graeme Maxton, chief economist at The Insight Bureau told CNBC Thursday. “We need to actually have a recession. We need to burn off the debt.”CBSMoneyWatch: JP Morgan: Earnings Beat Estimates
Politico: Public supports taxing the rich
Forbes: Why Mr. Bernanke Doesn’t Seem to Be Concerned about Rising Commodity Prices
When asked whether the Fed policies are responsible for rising commodity prices, Chairman Bernanke replied that rising commodity prices have to do more with rising demand coming from fast growing emerging markets rather than from Fed policies.
CNNMoney: Moody's gives Republicans what they insanely want
The congressional Republicans aiming to blow up the government took us past a scary new milestone Wednesday.RealtyTrac: Foreclosure Activity Off 29 Percent for First Half of 2011
Moody's put the United States' triple-A credit rating on review for a possible downgrade, citing a "small but rising risk of a short-lived default."
Foreclosure filings were reported on 222,740 U.S. properties in June, an increase of nearly 4 percent from the previous month, but a decrease of 29 percent from June 2010. June was the ninth straight month where foreclosure activity decreased on a year-over-year basis. Default notices, scheduled auctions and REOs were all up on a month-over-month basis but down on a year-over-year basis in June.
NYT: The Start-Up of You
The rise in the unemployment rate last month to 9.2 percent has Democrats and Republicans reliably falling back on their respective cure-alls. It is evidence for liberals that we need more stimulus and for conservatives that we need more tax cuts to increase demand. I am sure there is truth in both, but I do not believe they are the whole story. I think something else, something new — something that will require our kids not so much to find their next job as to invent their next job — is also influencing today’s job market more than people realize.
SydneyMorningHerald: America on the precipice
Peak oil and Energy News
EnergyBulletin: Why America needs to move beyond coal: Five economic indicators
YahooNews: Oil giant ConocoPhillips to split into 2 companies
TransitionVoice: World oil markets face production shortfall in second half
GlobeandMail: Rio Tinto iron ore output rises
MaxKeiser: COMEX Commercial Traders Positioning for Silver Strength
BusinessInsider: Why Citi Is Bullish On Potash
With potash prices riding high, and fertilizer fundamentals growing strong, Potash Corp, is expected to have a strong second half this year.
OilPrice.com: Afghanistan: Mining Boom Nurtures Transparency Concerns
Afghanistan’s mining potential appears to be huge. Depending on whom you’re talking to in either Washington or Kabul, there is anywhere from $1 trillion- to $3 trillion-worth of minerals waiting to be excavated in the country. Now, as the international community prepares to downsize both troops and aid, and Kabul prepares to open bidding on August 3 for the vast Hajigak iron ore deposits in central Afghanistan, a public debate is brewing on how Afghanistan’s mineral resources can best be put to use as an engine for long-term prosperity.
NewScientist: Rainbow toad rediscovered after 87 years
NewMadrid2011: 1811-1812 New Madrid Earthquakes Bicentennial
MSNBC: Battered West Coast a lesson on warming, study finds
USGS: Rough 2009-10 winter shows 'large-scale coastal changes' likely as sea levels rise
MotherJones: Welcome to the Age of GMO Industry Self-Regulation
As I reported last week, the USDA's recent surprise decision not to regulate genetically modified bluegrass poked yet more holes in an already-porous regime for overseeing GM crops—essentially to the point of regulatory collapse.
WBIR: Hunters get shot at elk hunt on eBay
TampaBay: Tea party members tackle a new issue: manatees
Everybody knows what the tea party members oppose. High taxes. Big government. Obama's health care plan. High-speed rail.America in Decline
Now, for at least some local tea party members, there's one more to add: manatee protection.
A Citrus County tea party group has announced that it's fighting new restrictions on boating and other human activities in Kings Bay that have been proposed by the U.S. Fish and Wildlife Service.
"We cannot elevate nature above people," explained Edna Mattos, 63, leader of the Citrus County Tea Party Patriots, in an interview. "That's against the Bible and the Bill of Rights."
So, do you suppose that now all elected officials will have to undergo drug testing too???
RawStory: New Missouri law requires drug tests for welfare recipients
BusinessInsider: In Two Months Police Will Start Using Retina Scans To Identify You
Law-enforcement agencies across America are getting ready to embrace hand-held facial-recognition software that can grab a picture of a persons face from five feet away.
According to The Wall Street Journal, the device is attached to an iPhone that will search a database and can be held six inches from a subjects face to do a retinal scan. Topping off its thorough identification, the screen will also take fingerprints.
AlterNet: The Relentless Christian Crusade to Prevent Kids from Learning Science
Religious Right strategies to introduce fundamentalist Christianity into public school science classes have (ironically) evolved over the years.
ThinkProgress: Florida Foreclosure Fraud Investigators Allege Attorney General Fired Them For Aggressively Pursuing Banks
Food and Water
PittsburghLive: Farmers sued for saving Monsanto wheat seeds
ERIE -- An Erie County wheat farmer has become the latest target of a St. Louis agricultural biotech giant's ongoing effort to protect its patents.Science and Technology
Monsanto Co. says in a federal lawsuit filed this week in Pittsburgh that Harold Steve Wiser Jr. of Fairview violated a licensing agreement by replanting seeds gleaned from crops grown from its patented Roundup Ready product.
ChicagoTribune: Lovers of the Lo-Fi: These people stand firmly on the other side of the digital divide
BusinessInsider: 10 Amazing Google Search Tips To Help You Find What You're Looking For
Guardian: Science fiction opens up the universe
One infinite reality leaves no room for another – SF's universe precisely fits a slot in the mind previously occupied by God
LiveScience: A Lost World? Atlantis-Like Landscape Discovered
MarginalRevolution: The Singularity is Near: From Dust to Device
PopSci: New Printable Antenna Can Harvest Ambient Energy To Power Small Electronics
Medical and Health
WSJ: Most Hospitals Face Drug Shortages
M&C: UN hails pills shown to prevent HIV as "breakthrough"
Geneva/Johannesburg - Two new studies conducted in Africa show that a once-daily pill can help prevent people from acquiring HIV, with the United Nations on Wednesday calling the data a 'major scientific breakthrough.'
M&C: Rare virus blamed for poisonings at Hungarian lakeside camp
Budapest - A rare virus strain was behind a mysterious outbreak of poisoning that saw dozens of children rushed to hospital from a Hungarian holiday camp, medical officials said Wednesday.
A week after the outbreak, a hitherto little-known strain of calicivirus - a common source of food poisoning - was identified in lab tests, the local medical officer told the state news agency MTI.
'This rare strain of the virus did not even feature in the routine tests,' Laszlo Bujdoso said.
MSNBC: Stinky feet odor may prevent malaria deaths
Mosquitoes lured to traps using natural and artificial foot smell
TechReview: Two Patients Undergo Stem-Cell Blindness Treatment
A small biotech firm is the second company to start human tests of embryonic stem-cell therapy.
Doomsteading, Gardening, Urban Farming
BigPictureAgriculture: Old Agricultural Methods and Tools on these Luddite Sites
TransitionVoice: Praying for rain, praying for collapse
Bone-dry Arizona wouldn’t be my first pick as a site for an eco-community meant to weather peak oil and climate change.ModernSurvivalOnline: Guest Post: Investing in Preps that aren’t usually considered
But that’s exactly where Transition Voice columnist Guy McPherson has decided to “exit the empire” of contemporary American consumerism before it comes crashing down around the residents of America’s biggest cities.
Permaculture.UK: How to Build an Aquaponics system: Gardening with Fish
ModernSurvivalOnline: Guest Post: My 10 must have items for a Bug Out Bag-Part 2
DemonMuse: Theology, Psychology, Neurology: Is the Muse Real? (Part 3.1): Mysteries of the Pineal Gland
TheNation: Why Won't Michele Bachmann Talk About Her Taxpayer-Funded Anti-Gay Therapy Clinics?
SOTT: Austrian driver's religious headgear strains credulity
Time: The Rise of Moderate Islam
USAToday: Rupert Murdoch rejects summons to testify to parliament
WikiHow: How to Stop Letting "Shoulds" Rule Your Life
Do you spend much of your life telling yourself what you "should" do? "Shoulds" are about obligation, habit, and worst of all, other people's expectations. Living a life thinking you should do things is a life half lived and fully hemmed in by the ways things ought to be instead of the way things are. This results in frustration, unhappiness, and never being content with yourself.
SOTT: Deadly Spider Shuts Down German Supermarket
TheAtlantic: The Non-Return of American Isolationism
Hosted: Irish summon Vatican diplomat over abuse cover-up
ABCNews: Leiby Kletzky Murder Suspect Levy Aron Confesses to Authorities
On Wednesday Aron made a full written confession to authorities of how he smothered Leiby Kletzky, 8, with a towel and then dismembered him, sources have confirmed to ABC News.
TinfoilPalace:Fish Carried Genetic Switch For Legs say researchers
TinfoilPalace:Angel Wars --Steve Quayle (Radio Program Summary)
TheOilAge:John Michael Greer: electric cars are a waste
TheOilAge:BERNANKE(!): QE3 "appropriate"
Hubberts-Arms:Three US Senators now calling for a probe into the phone hacking scandalHubberts-Arms:Popular fungicides failing, may cause hard choices for apple growers
SilentCountry:Gold hits new dollar, euro and sterling records, Fed may consider
SilentCountry:Tragic Menlo Park hoarding case leads to questions about city