In its attempt to quell rising uneasiness in the wake of the failed German bond sale last week, the establishment magazine The Economist rushed in over the weekend with a series of four separate articles promoting its globalist and internationalist perspective on the matter. The first article noted that the risk to the euro within the next few weeks is “alarmingly high” unless measures are taken. The article blamed lack of leadership — “denial, misdiagnosis and procrastination” — for the unfolding and accelerating crisis. First, a recession appears to be imminent as the austerity measures are taking hold across the euro zone and slowing already shaky economies. Second, there is evidence of a run on banks holding large positions in the sovereign debt of the weaker countries. As the banks are facing a June 2012 deadline to improve their capital positions they are now seizing this opportunity to unload as much of that debt as they can, thus explaining the significant rise in interest rates all across the zone. This reflects the simple fact that the banks have loaned money to each other — loans that exceed their deposits, according to The Economist — and now are unwilling to continue to make those loans. This is putting the various spendthrift — “feckless” is their word for it — governments at risk of default when they can’t borrow the money to pay their bills. Especially at risk is Italy, which has to roll over $42 billion of debt the last week in January and another $62 billion at the end of February.
They call it Dearbornistan, Michigan, for more than one reason. Yet another surfaced last week week when The Detroit News and the Associated Press reported that a male nurse, fired for treating women Muslim patients at a taxpayer-subsidized health clinic, has filed a lawsuit against Dearborn. That’s right. According to the lawsuit, John Benitez, Jr. was terminated for doing his job because “conservative” Muslims complained about him treating women wearing the hijab, although he did so under the orders of a doctor. Some 30 percent of Dearborn residents are Arabs, although it is unclear what percentage of those are Muslims. One indication is that Dearborn boasts the largest mosque in North America. Another is the mounting evidence of bias against Christians in such places as Fordson High School, where the student body is 80 percent Arab. No Male Nurses for Women Muslims A nursing as well as Army veteran, Benitez, 63, began working at the clinic in September 2010, AP reported, citing the complaint filed by his lawyer, Deborah L. Gordon.
Outraged over a weekend U.S. and NATO attack that killed 25 Pakistani soldiers and wounded more than a dozen others, the government of Pakistan has taken prompt retaliatory action. Supply lines through the nation for the American-led coalition occupying Afghanistan were shut down immediately and, according to the Interior Minister, permanently. Pakistani officials are also demanding that U.S. air bases in the country be vacated within two weeks. "Pakistan's sovereignty was attacked early this morning," said Prime Minister Yousuf Raza Gilani the day of the incident. "This is our Pakistan and we have to defend it." Other Pakistani officials also vented their fury over the attack and demanded swift retaliation. Citizens were outraged, too. Headlines in national newspapers spoke of “murders” and an act of war. According to news reports, thousands of Pakistanis protested the attack as well, shouting “down with America” at U.S. diplomatic posts across the country. "America is attacking our borders. The government should immediately break ties with it," a Pakistani housewife at an anti-American demonstration in Karachi was quoted as saying by the Reuters news agency. "America wants to occupy our country but we will not let it do that."
The Republican Small Business Committee reported on November 8 that small-business optimism “remains extremely low,” and that business owners “simply are not hiring because they are pessimistic about consumer sales, the nation’s economic climate, and the amount of regulations to comply with.” Committee Chairman Sam Graves (R-Mo.) added, "The overall mood of the nation’s job creators is still at historic lows. The [Optimism Index of the National Federation of Independent Business] shows that over the next three months, only 9 percent of small business owners plan to increase employment [while] 12 percent plan to lay off workers. These numbers are … worse than the previous two months." NFIB's Optimism Index has shown precious little change going back to January of 2009 and is matched by the University of Michigan’s Consumer Sentiment Index, which noted that “more households reported that their finances had worsened rather than improved for the 48th consecutive month [and that] just 22% of consumers expected their finances to improve” in the coming year. Further, in each of the past four months, “the majority of consumers unfavorably rated the policies of the Obama administration.” The Consumer Confidence Index issued by the Conference Board also showed consumer expectations at 51.8, down 10 full percentage points just since April.
The new Libyan regime has promised to pursue political and economic integration with Sudan’s genocidal “President” Omar al-Bashir, designated a state sponsor of terrorism by the U.S. government since 1993 and wanted internationally for war crimes. Libya’s National Transitional Council (NTC) chief Mustafa Abdul Jalil arrived in the Sudanese capital of Khartoum on November 25 for talks with the socialist, Islamist despot ruling Sudan. According to news reports, he was received with open arms. The two neighboring rulers lavished praises on each other's regimes and promised to pursue close cooperation on everything from “security” to transportation. Al Bashir also emphasized his disdain for late Libyan strongman Moammar Gadhafi, who supported various rebel groups in Darfur and South Sudan. "The Libyan people have presented the greatest gift for the Sudanese people, that is, liberating Libya from Gadhafi and his regime," al-Bashir told Sudan’s ruling National Congress Party (NCP) during a conference held while Jalil was visiting. "The biggest harm inflicted on Sudan was by Gadhafi's regime. It was bigger than any harm caused by any of the colonialist countries hostile to Sudan."
Former Massachusetts Governor Mitt Romney says his administration deleted all its emails near the end of his term specifically to frustrate political opponents. Though the move appears unorthodox, if not downright illegal, the Republican presidential candidate claims everything was above board and dismisses the recent flap about the emails as pure politics. On November 17 the Boston Globe reported that at the end of 2006, just as Romney was leaving office and gearing up for his first presidential run, “11 of his top aides purchased their state-issued computer hard drives, and the Romney administration’s emails were all wiped from a server.” In addition, the remaining computers in the Governor’s office were replaced. “As a result,” explains the paper, “[Gov. Deval] Patrick’s office, which has been bombarded with inquires for records from the Romney era, has no electronic record of any Romney administration emails.” Mark Nielsen, Romney’s chief legal counsel as Governor, told the Globe that the administration “fully complied with the law and complied with longstanding executive branch practice,” a refrain repeated by the Romney campaign. The campaign points out that in 1997 the Massachusetts Supreme Judicial Court ruled that the Governor is not explicitly included in the state Public Records Law, which requires the preservation of electronic communications.
Here’s some news that could turn the entire election upside down. Leading Democrats are urging Barack Hussein Obama to withdraw as a candidate for re-election in 2012, as Lyndon Baines Johnson did almost 50 years ago. The campaign to get Obama to quit the race kicked into high gear on November 21, when influential Democratic leaders Pat Caddell and Doug Schoen wrote a lengthy piece for the Wall Street Journal on why Obama should withdraw. Here’s part of what they said: “[Obama] should abandon his candidacy for re-election in favor of a clear alternative, one capable not only of saving the Democratic Party, but more important, of governing effectively and in a way that preserves the most important of the president’s accomplishments.” Who would they have run instead? Get ready for their totally predictable pitch: “He should step aside for the one candidate who would become, by acclamation, the nominee of the Democratic Party: Secretary of State Hillary Clinton.”  
By every appearance, we are entering the final, calamitous act of the European debt crisis, a sprawling, slow-motion debacle that is about to engulf the world in financial turmoil more acute than the American meltdown of 2008. For roughly two years, European authorities have struggled to keep the debt crisis from spinning out of control, doling out bailouts to small, heavily indebted nations such as Ireland, Portugal, and Greece. “Contagion” — the notion that a sovereign default in, say, Athens, might trigger a cascade of woes elsewhere — has been and remains the watchword. But, with Italy now propelled into the company of the desperately indebted, the Europeans have all but run out of options. Unlike Greece and Portugal, Italy, with its $2.6-trillion debt, is far, far too large to be bailed out. Italy’s political leadership — like America’s — has been absolutely unwilling to cut the expense of government, clinging like ivy to cherished government programs that cannot be sustained by any level of taxation. Over the past couple of weeks, markets have finally taken notice, driving interest rates, or “yields,” on most Italian government bonds to over seven percent. Today, for example, the Italians managed to auction off $10.6 billion worth of six-month bonds at yields of 6.504 percent. Two-year bonds, meanwhile, were selling for 7.64 percent, and 10-year bonds for 7.26 percent. By comparison, consider that six-month Italian bonds were selling for a mere 3.535 percent only last month, while two-year bonds were just above 4.1 percent in early October and at 2.3 percent in mid-March. Borrowing rates for Italy have more than tripled in a few months.
In a deep bow to the homosexual lobby, a small army of Democrats in the U.S. House of Representatives has introduced legislation that would extend employee benefits to the same-sex partners of federal workers. Under H.R. 3485, homosexual partners of federal employees would be eligible for such benefits as retirement, life insurance, health insurance, workers compensation, and death benefits. “The federal government must set an example as an equal opportunity employer,” the bill’s sponsor, lesbian Congresswoman Tammy Baldwin (D-Wis.) was quoted by The Hill as saying. “If we are to treat all federal employees fairly and recruit the best and the brightest to serve in government, we need this legislation.” Predictably, among the bill’s co-sponsors were three other homosexual Democrats: David Cicilline (D-R.I.), Barney Frank (D-Mass.), and Jared Polis (D-Colo.). Also not surprisingly, Florida Republican Ileana Ros-Lehtinen, chairwoman of the House Foreign Affairs Committee, added her signature to the bill’s sponsorship. The Hill reported that Ros-Lehtinen, “who has a transgendered daughter, has said recently that her views have evolved on gay and lesbian rights over the last several years. Earlier this year, Ros-Lehtinen supported a bill that would repeal the Defense of Marriage Act (DOMA), a law she voted for in 1996 under which the federal government defines marriage as between a man and a woman.”
The “disastrous” failure of the German bond auction on Wednesday when buyers failed to bid the offering and Germany’s Central Bank — the Bundesbank — had to step in and purchase nearly 40 percent of the offering came just a day after SpiegelOnline posted an article critical of the country’s finances. The article virtually accused Chancellor Angela Merkel and her Finance Minister, Wolfgang Schauble, of “cheerleading” the economy’s supposed strength while ignoring major weaknesses. Merkel says her country has “a clear compass for reducing debt [and that] getting our finances in order is good for our country.” Schauble was an echo: Germany is a “safe haven [because] the entire world has great confidence in both the performance and soundness of the fiscal policies of the Federal Republic of Germany.” Cracks in Germany’s economy were noted by Professor Wilhelm Hankel of Frankfurt University back in November of 2010: “Germany cannot keep paying for bail-outs without going bankrupt itself. This is frightening people.” He added, You cannot find a bank safe deposit box in Germany because every single one has already been taken and stuffed with gold and silver. It is like an underground Switzerland within our borders. People have terrible memories of 1948 and 1923 when they lost their savings.
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