Friday, August 05, 2011
Medvedev to Assad: Prepare for 'Sad Fate'
The Syrian regime's time is running out, according to Russia's president. Click here for the story.
S&P DOWNGRADES US CREDIT RATING
Iran's Advance to Atomic Armageddon
Turkey Seizes Iran Arms Bound for Hezbollah
Gaza Rockets Fired at Southern Israel
Terrorism Risk Rising in Egypt Along With Islamism
US Recession Fears Follow Debt Crisis
Lawrence Summers: "The issues pressing the United States today are much more about jobs and a growth deficit than an excessive budget deficit. "
Read more here.
The former Treasury secretary says there is a one-in-three chance of a U.S. recession. Merrill Lynch economists disagree. They say there is a 35% chance of a new recession.
Many analysts fear we could be on the verge of revisiting the Great Depression.
Elsewhere, Italy and Spain are moving into dangerous debt territory as China's economy slows and Japan remains mired in recession after the March earthquake.
Global gloom.
And neither the President nor his critics seem to have a strategy for economic revival and renewed prosperity.
Here's one: unlock the nation's hidden-in-plain-sight wealth--its awesome natural resources, including, of course, its energy resources. The United States is blessed with enough oil and gas to make it energy independent. Making this dream a reality would produce millions of well paying, permanent jobs--and end the power of the Saudi lobby.
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