Issue 10 (July 22, 2011).

United States

US Debt Ceiling

• Political posturing continues as we approach the August 2nd deadline to raise the debt ceiling.
• The 'Gang of 6' has proposed a plan that has received fairly widespread acceptance, but it remains unclear if they can turn the proposal into legislation and have the votes to get it passed by the deadline.
• Major ratings agencies S&P and Moodys have threatened to downgrade the credit rating of the US unless the ceiling is raised and a credible long term debt reduction plan is implemented.
• Even Washington insiders have expressed their disbelief and shock at how this scenario has shown at how incompetent the current crop of congressional members and leaders can be. A lot of blame has been put on the freshmen class of Tea Party House members as they view their political dogma as more important than being pragmatic or getting anything done.

Military Aid to Pakistan Gets Cut

• The US has cut (suspended) part of the military aid it sends to Pakistan as the tensions between the US and Pakistan remained heightened after the Osama fiasco. The amount suspended is $800m, which is 40% of the military aid we send them annually.
• It was proposed to cut the aid completely off in a congressional committee, but that proposal was quickly shot down as that would essentially destroy all relations with the country.

US Execution of Mexican National (kinda)

• Texas executed a Mexican national (who had lived in the US since he was 2) after he was convicted of raping and murdering a 16 year old girl.
• According to international rules and those imposed by the International Court of Justice, the execution violated international rules that state foreign nationals must be granted access to advice from the consulate of the home country, which was denied to this guy.

International

Mumbai Bombings

• Coordinated terrorist bombs hit Mumbai, India during rush hour on the 13th. Over 21 people here killed as the bombs hit busy centers throughout the city.

Oslo Explosion

• This morning a large explosion rocked the center of Oslo, Norway, and damaged government buildings and a newspaper building. At least two people are confirmed dead at this point, but it happened less than an hour ago.
• The Prime Minister's office is close to the explosion, but he is safe and was not in the building at the time.
• Authorities have just confirmed that the cause was a bomb.

Somalia Drought

• A severe drought has hit Somalia quite hard and thousands of refugees are fleeing as they cannot get enough food or water to support their families.
• A UN agency has said at least $300M is needed in aid soon or there will be a humanitarian crisis.
• One would have thought people would have already fled the shitbox after decades of civil war and the complete lack of a central government.

Murdoch Scandal

• Rupert Murdoch and his son, James Murdoch, testified in front of a British Parliamentary committee investigated the phone hacking scandal.
• A protestor was able to get in the hearing and attempted (unsuccessfully) to hit Rupert with a shaving cream pie.

Hugo Chavez

• The anti-American president of Venezuela is in Cuba for ongoing treatment and surgery for cancer.

As reported by Jason Van Thiel.

Issue 9 (July 12, 2011).

United States

Debt Ceiling

• Yes, we are still talking about the debt ceiling as the two parties have held out on making any sort of deal until (likely) the very last minute so they can, once again, claim they tried their best to be ideologues when they present unpopular cuts/taxes to their bases. The deadline to have something done and in place and voted in is August 2nd.
• It looks like there will be somewhere in the range of 2T-4T of deficit reduction in whatever deal gets worked out, but the rhetoric has really heated up in the past few days as negotiations continue.
• It is widely seen that Boehner wants to compromise to get a deal done but there is an internal struggle within the Republican party between Boehner versus Cantor and the tea party candidates.

Yellowstone Oil Spill

• For reasons I can't figure out the media has been largely absent from reporting on the Exxon Mobil oil spill in the Yellowstone River on July 1st.
• Until recently floodwaters have hampered cleaning as well as testing of the water to determine the safety of the water and extent of the spill, but the estimates of the amount of oil spilled are relatively low.

Last Shuttle Launch

• The last NASA shuttle launch took place last Friday to supply the International Space Station (ISS). The mission is supposed to last about 12 days, after which the entire Shuttle fleet will be retired and American manned space flight will be put on hold for the time being.

Casey Anthony Outrage

• The public at large suddenly became legal experts after Casey Anthony was found not guilty and were outraged how the jury could find her not guilty. They were so outrageously outraged they even took to Facebook and Twitter to express how mad they were!
  

Betty Ford Died

• Of a massive drug overdose! Just kidding, but the former first lady did die. (Betty Ford Clinic joke in case it wasn't clear)

International

South Sudan

• After one of Africa's longest civil wars and over 2 million people dead, South Sudan became the world's newest nation as it seceded from Sudan after a peace deal which involved a secession referendum held in January of this year and received just under 99% of the vote by the Southern Sudanese.

Murdoch Scandal

• The British former newspaper-turned tabloid News of the World hit a huge scandal in the UK when it was revealed the it's reporters paid off police to receive information and hacked the phones and voicemails of British officials (including Gordon Brown, the former Prime Minister), widows of servicemen killed in Iraq/Afghanistan, and a missing 13 year old girl.
• The public blew their lid over the entire story but mainly when it was revealed that while the 13 year old girl was still missing News of the World employees were hacking into her voicemail and deleting messages b/c her VM was full so more messages could be left. This (obviously) led the police and her family to believe she was still alive, which she wasn't. Yes, that is your skin crawling right now.
• Advertisers started fleeing the paper en masse, and Murdoch shut down the paper completely.
• News Corp. (Murdoch's main holding company) had been involved in a bid to take over British satellite broadcaster, BSkyB, and now has received enormous political and public pressure to abandon the bid.
• The Murdoch media empire also includes Fox News and the Wall Street Journal.

Syria

• US and French diplomats visited Hama, the center of the Syrian unrest, to speak with the opposition. Damascus issued a fiery statement condemning the visit and mobs subsequently attacked the US and French embassies in Damascus.

Libya

• Reports have circulated that Gadhafi has sent emissaries to New York, Turkey and Paris to begin talks as Gadhafi is reported to be ready to step down and leave the country.
• Battles have continued across the country but is largely in stalemate with the opposition still controlling the eastern half of Libya and various pockets in the west, but failing to make inroads in advancing towards Tripoli.

As reported by Jason Van Thiel.

Issue 8 (June 18, 2011).

United States

GOP Presidential Debate

• On Monday CNN held the first GOP Presidential debate in New Hampshire.
• Participants were: Mitch Romney, Tim Pawlenty, Newt Gingrich, Michelle Bachmann, Rick Stantorum, Ron Paul and Herman Cain.
• It was fairly widely viewed that Bachmann was the most impressive during the debate, considering the low expectations most people had for her. Despite that, Romney had the largest target on his back since he is the clear front runner at this point and he emerged from the debate almost completely unscathed by the other participants.
  

10 Members of Congress Sue the Administration

• The suit is over the conflict in Libya and that Obama hasn't sought Congress' official approval of "hostilities" and that such hostilities have gone beyond the 60 days given to the President to end or seek approval of actions according to the War Powers Resolution Act of 1973.
• The Administration has sent Congress a package of documents outlining why the Libya mission does not constitute "hostilities" because NATO took the lead in the operation on April 7th, and the US has mainly been in a supporting role of surveillance and operations.
• The War Powers Resolution does not define what amounts to "hostilities" so the suit is widely seen as a public and political move to put pressure on the Administration, since the courts cannot rule on what is undefined.
  

Weiner Resigns

• New York Rep Anthony Weiner announced he is resigning from the House on Thursday after his whole sexting/twittering scandal.

John Edwards' F-Buddy

• I'm a bit late on this, but John Edwards was indicted on 6 counts for using campaign funds to pay to keep his mistress hidden.

USA Supplying Arms to Mexican Gun Cartels

• This is old news, but just in case you've missed the reports over the past several months, most of the guns and weapons used by Mexican drug cartels to kill Mexican police and civilians originate in the US due to the ease of obtaining powerful weapons here.

International

Syria Crackdown

• Syrian troops continue to crack down on protests across the country with tanks encircling some cities in the north, prompting thousands of people to flee into Turkey.
• The international community has remained relative quiet about the atrocities happening there, with only a few select governments calling the regimes continued rule as illegitimate.
• Reports and pictures of troops torturing women and children have surfaced, to which the regime denies they are real.

Pakistan Arrests

• Pakistan has arrested multiple CIA informants that helped during the Bin Laden raid along with several people suspected of helping Bin Laden.
• The action has further strained the already tense relationship between the US and Pakistan.

Greek Violent Protests

• Protests in Greece erupted Wednesday over proposed austerity measures in order to try to bring Greece's fiscal house in order.
  Petrol bombs have thrown at riot police and violence occasionally breaks in various clashes.
• Short rant: If anyone compares the US's debt situation to Greece you can immediately stop listening to what they are about to say since they clearly don't know how our different monetary systems work. Ever since Greece joined the Euro zone, they lost the sovereign ability to create their own currency and therefore are constrained to what the ECB does and what taxes they collect. In this aspect, they are much like the relationship between the individual states and the US. Minnesota is revenue-constrained and therefore either has to raise revenue through taxes or cut spending (or both) if they run a deficit since there are no Minnesota-Dollars they could create (and most states have a balanced budget resolution in their constitution). However, since the US, and only US, can create Dollars and therefore, (barring a congressional action) the US cannot default on its debt, since it would just make more dollars to pay it's obligation and (likely) cause inflation and devaluing the dollar to a certain extent.

IMF President

• The current front runner, and widely anticipated next president of the IMF, Christine Lagarde who is the current French Finance Minister, has been globe trotting several emerging countries to try to reassure them of her candidacy.
  The emerging world has long criticized the IMF for always having a European president, given the increasing influence, power and need for oversight of emerging nations, and they feel someone experienced in dealing with emerging nation's finances would be best for the IMF.
• Historically the IMF has always been run by a European and the World Bank run by an American.
• The US is tacitly supporting Lagarde by remaining relatively quiet about the candidates, but is widely seen to want to keep the IMF/World Bank status quo with an American remaining in the deputy position.
• The only other real candidate is the head of the Mexican central bank, Agustin Carstens, but is seen as a long shot.

As reported by Jason Van Thiel.