Joel Skousen’s World Affairs Brief News Headlines

From: WorldAffairsBrief.com

This week in the World Affairs Brief:
DEBT CEILING DEAL: NO SOLUTION, BAD PRECEDENT
The Debt Deal which avoided the partial default on maturing bond issues was both praised as a breakthrough and derided as a fraud. I’m in the latter camp. The deal has done nothing but postpone the bickering about spending and revenue until the end of November. But it did change the rules by which the future will be debated. Glenn Beck put it this way: “Republicans and Democrats have just negotiated away the future of our children behind closed doors.” I’ll take up that claim about the Super (secret) Congress later but, in truth, the future of our children is already gone. This nation is already bankrupt and neither the politicians nor the public have the will to do what’s right to rein in spending, war, waste and fraud. Even though I believe the point of collapse is a lot farther away than most are predicting, it is coming and you can bet the Powers That Be will create some terrible conflict before that time arrives to ensure that the ultimate blame for this fiasco gets swallowed up in the ensuing mayhem. Of course they will claim it “was not their fault” and we’ll all just have to start over with a new currency, new bonds and new debt. You can request a one-time free sample of the briefs by sending an email to editor@worldaffairsbrief.com.
Also:
Political and Financial Fallout from the Deal
False Solutions and Real Solutions
Ron Paul’s Growing Universal Appeal
More…
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The World Affairs Brief is a weekly news analysis service dedicated to providing an understanding of the hidden agendas behind the actions of world leaders and other powerful individuals who influence government from behind the scenes. Although the World Affairs Brief is provided to subscribers only, you can read samples of Mr. Skousen’s unique analysis in the archives section. The following daily news items are provided as a sampling of the crucial issues that Mr. Skousen may analyze in this week’s briefing.

Daily News Links
Tuesday, August 9, 2011
Democrats Call SnP Decision a Tea Party Downgrade
Story by The New American

In the aftermath of this historic U.S. fiscal shift, which arrived despite the $2.5 trillion deficit reduction plan passed last week, the congressional blame game is an inevitable outcome, and Sunday shaped the springboard for Congress to indulge the media in partisan pandering. …More
U.K. PM recalls Parliament for London riot crisis
Story by Washington Times

In London, groups of young people rampaged for a third straight night, setting buildings, vehicles and garbage dumps alight, looting stores and pelting police officers with bottles and fireworks into early Tuesday. The spreading disorder was an unwelcome warning of the possibility of violence during London’s 2012 Summer Olympics, less than a year away. …More
Why the Stock Market is Plunging
Story by mises.org

None of this should surprise those conversant with Austrian economics. The “fundamentals” of the economy have been and remain awful because the government and Federal Reserve are consistently doing the wrong things. The apparent recovery, fueled by Bernanke’s sheer money creation, has been bogus all along. …More
The Refusal to Think
Story by 321Gold

Early this year, Cornell University in the US did a study which was designed to see if Americans equate the money they receive from the US government with government programs. They asked a large number of ordinary Americans if they had ever used a government program. The findings – as reported by the New York Times in February this year – were astonishing. Forty-three percent of Medicare recipients said NO. Forty-four percent of those on Social Security said NO. Forty-three percent of people on unemployment benefits said NO. And to crown the whole study – FIFTY-THREE percent of those getting student loans – likely including Cornell students – said NO… …More
Monday, August 8, 2011
Consumer Metrics Institute’s Growth Index: Seeing the Other Side of the Chasm
Story by dshort

The Consumer Metrics Institute’s Daily Growth Index set its historic low around Memorial Day. The index appears to be rebounding at an amazing pace and turned positive on August 3rd. …More
Wisconsin Recall Elections Attract National Attention, Funds
Story by The New American

The eyes of the nation are on Wisconsin again as voters head to the polls to decide the fate of eight state Senators – six Republicans and two Democrats – in a series of historic recall elections. And the stakes are enormous. Analysts are touting the looming showdown as everything from a referendum on the policies of Wisconsin Gov. Scott Walker to an indicator of President Obama’s chances of victory in 2012. Control of the Senate could go to Democrats if they manage to unseat three or more of the Republican Senators being targeted. …More
The Demonization of the Tea Party
Story by The New American

Apparently, liberals are unable to recognize traditional conservative Republican positions for less government, lower taxes, a balanced budget, and adherence to the principles of the Constitution of the United States. They have become “terrorists.” …More
The real risk to US debt’s credit rating
Story by Guardian UK

For SnP, the downgrade was rational: sooner or later, American taxpayers will rebel against austerity cuts to pay for the crisis …More
SnP Downgrade Another Y2K Scare
Story by nakedcapitalism.com

It isn’t yet clear what the impact of the SnP downgrade of the US to AA will have. There are good reasons to believe, despite the media hyperventilating, that it won’t add up to much, and may perversely hit wobbly stock markets more than Treasury yields. …More
A world without a benchmark
Story by Asia Times

Americans who question the validity of the downgrading of United States debt by rating agency Standard and Poor’s, or China, which has called on America to rein in its ballooning budget deficit, are almost entirely wrong with their assumptions of how this particular fork in the global financial crisis road needs to be navigated. New rules apply in the markets now. …More

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