Extended Warranty? With exquisitely bad timing, Poland agreed on Thursday to let the US plop down some ballistic missiles on the Russian border. The Ukraine, another recent US acquisition on Russia's borders, said it will require formal requests for permission from the Russians before Ukraine will permit Russian ships based at Ukrainian ports to maneuver. Meanwhile, the Russians have told the government of Georgia that the separatist provinces will not be returning to Georgian control, and Georgia's leader is trying to con the US into having the US military operate Georgian ports and airports.
Wide: Countrywide's mortgages are deteriorating at ever growing rates. The statistics are devastating but boring. Countrywide says the worst news will not show up for another 2 or 3 years..
Virginia Wolfe? Inflation at the consumer level is increasing at the fastest pace in 17 years. Meanwhile indications suggest an increasing slowdown in the economy. To fight inflation, the Fed will raise interest rates. To stimulate the economy, the Fed will lower interest rates. Alternate side of the street parking regulations remain in effect.
Yes, But: The US suggests it would be peachy keen to exempt India from the restrictions on expanding nuclear technologies. It wasn't immediately clear what the US was getting in return.
Heavy Fighting, Long Struggle Seen: General Dynamics is gearing up for a long struggle to recapture ground lost to Boeing as the Army plans to transfer hundreds of billions of dollars from General Dynamics' tanks, Strykers and APCs to Boeing's Future Combat Systems. Office-to-office fighting on Capital Hill is expected to intensify.
Selling the Sizzle: Researchers forecast that the US Midwest will have routine summer temperatures above 105 degrees Fahrenheit long before 2100. That's the optimistic forecast.
Smoke 'em If You've Got 'em: Saudi Arabia is the world's second largest producer of crude oil. It is the world's largest exporter of petroleum, but its consumption is growing at the world's fastest rate. It is producing a little less each day. It is using a little more each day. What's left, it exports.
Circular Logic: Even as higher gasoline prices were panicking the public into driving less, state and federal transportation officials were panicking over the loss of gasoline tax revenues needed to build more highways so people could drive more.
Elephant in a China Shoppe: GOPers are foaming at the mouth at the news that Iraq sells oil and keeps the profits. They want Iraq to pay to rebuild the infrastructure that two US-led wars, 10 years of US-led sanctions, and 5 years of US-led occupation have destroyed. The US broke it and killed a lot of Iraqis doing so. Least the US could do is replace the replaceable. Have the Iraqis stolen a lot of the reconstruction monies? Sure; after all, we're teaching them democracy.