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“Yes, the Moslems have come to you, but Islam is even more strict about moral values than Christianity, and doesn’t allow any compromise,” I noted. "It is just as decisively against those abortions, contraceptives, and divorces that are so dear to your hearts. With what new religion do you liberals counter? Who are your idols and authorities?”
Pravoslavie.ru
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The equities markets are in disarray while the bond markets continue to surge. The avalanche of bad news has started to take its toll on investor sentiment. Barry Ritholtzs "The Big Picture" reports that the bears have taken the high-ground and bullishness has dropped to its lowest level since March ‘09 when the market did a quick about-face and began a year-long rally. Could it happen again? No one knows, but the mood has definitely darkened along with the data. Theres no talk of green shoots any more, and even the deficit hawks have gone into hibernation. It feels like the calm before the storm, which is why all eyes were on Jackson Hole this morning where Fed chairman Ben Bernanke delivered his verdict on the state of the economy on Friday.
Mike Whitney
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When a ring of Russian spies was discovered in the suburbs of several US cities in May, many commentators were quick to dismiss them as rather hapless.
BBC News
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The dollar had collapsed as world reserve currency in 2012 when the worsening economic depression made it clear to Washington’s creditors that the federal budget deficit was too large to be financed except by the printing of money.
CounterPunch.org
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Last week, a Chinese rating agency downgraded U.S. debt from triple A and number one globally, to “double A with a negative outlook” and only thirteenth worldwide. The downgrade renewed fears that the sovereign debt crisis that began in Greece will soon reach America. That is the concern, but the U.S. is distinguished from Greece in that its debt is denominated in its own currency, over which it has sovereign control. The government can simply print the money it needs, or borrow it from a central bank that prints it. We should not let deficit hawks and short sellers dissuade the government from pursuing that obvious expedient.
Ellen Brown
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Central Asia arrived at a turning point last weekend far removed from the history of Genghis Khan riding out to conquer the world, as it sought peacekeepers from Europe. Russia, which has provided security to the region for the past century and more is stepping aside - unable or unwilling, and possibly incapable of performing that role anymore.
M K Bhadrakumar
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When China designed the 2010 Universal Expo in Shanghai as a showcase for its new public diplomacy, it probably did not envision the exhibition would play a much bigger role as a magnet for recession-hit European businesses.
Antonaeta Becker
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Two veteran diplomats, one from China and the other an American, trudge their weary way from their respective capitals to the remote Himalayan kingdom of Bhutan to witness as "observers" a gathering of eight leaders from South Asia agonizing over the stasis of their 25-year old regional forum.
M K Bhadrakumar
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Housing has been going sideways for seven months now, mainly due to lax lending standards (at FHA), the Firsttime Homebuyers Credit, and the Feds mortgage-backed securities (MBS) buyback program. But once the props are removed, the market will fall sharply. So wheres the real, organic demand for housing? Heres a hint: There isnt any.
Mike Whitney
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Beijings plan to build a high-speed railway network across Asia and Europe through Central Asia is its key project for the continent. A reflection of the rise of China on the global stage, the proposed network will connect 17 countries and comprises three major routes linking Kunming in China with Singapore via South Asia; Urumqi in northwest China and Germany through Central Asia; and Heilongjiang in northeast China with southeastern Europe via Russia.
Roman Muzalevsky
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The Securities and Exchange Commission announced Monday it had begun an inquiry into two dozen financial companies to determine whether they followed accounting practices similar to those recently disclosed in an investigation of Lehman Brothers.
Robert Reich
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On December 13, 2001, President George W. Bush gave notice that the United States was going to withdraw from the ABM Treaty in six months. Is this a correct decision which should go unchallenged? Im proposing here a decision tree. President Bush should have gone through a decision-making process like this before announcing withdrawal, but obviously, he didnt. There are ten questions, to be answered in order. If the answer to any question is "no," then the process halts and withdrawal should not occur. The rest of the questions are then irrelevant. If the answer is a question is "yes," then you proceed to the following question. Only if the answer to all ten of the questions is "yes" do you proceed to withdraw from the treaty. The questions are as follows:
Dr. Robert M. Bowman
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The Nobel Peace Prize has a tradition. In the entire period from 1901 to 2009, it has never been awarded twice to any of its 97 individual recipients.
M K Bhadrakumar, Asia Times Online
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Like an ever-profitable horror B-movie franchise, the al-Qaeda myth simply refuses to die.
Pepe Escobar, Asia Times Online
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There is a stark similarity between some aspects of the political atmosphere dominant over Iran today and those under Prime Minister Mohammad Mossadegh right before the U.S.-led coup of 1953 that resulted in the overthrow of the legitimate government of Iran and the establishment of a U.S.-puppet government of the Shah.
Ardeshir Ommani
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