New U.S. claims for jobless benefits rose last week, hardening the view the central bank will pump more money into the economy, and keeping pressure on Democrats poised to lose congressional seats in Nov. 2 polls.
Hard times make us more tribal?
Asked about what the questioner saw as an increase in racial tension Thursday, President Obama said a "tribal attitude" can come as a result of economic hardship.
"Historically, when you look at how America has evolved, typically we make progress on race relations in fits and starts," he said at a town hall event with young Americans.
He then suggested that the recession has played a part in driving racial antagonism while he has been in office.
"Often times misunderstandings and antagonisms surface most strongly when times are tough. And that's not surprising," Mr. Obama said, arguing that Americans are less worried when things are going well.
Family seizes their foreclosed home back:
One of the long-shot outcomes of the current foreclosure mess could be a chaotic scenario in which people fight to get their foreclosed homes back.
Enter the Earl family in Simi Valley, Calif. Over the weekend, Jim and Danielle Earl reportedly took their nine children, ages 9-23, and a locksmith and broke into the six-bedroom house they used to call home. The move was recommended by their lawyer, according to a story on Aol’s HousingWatch.com.
Resource Limits may limit economic recovery:
We may rail against the regulators, politicians, and others who failed to understand and manage past risks, but we are just as culpable for our failure to engage with severe, well-signposted, imminent ones. Impassioned arguments over bank nationalisation, battered government finances and the austerity-stimulus debate consume us today, but in reality may be little more than a Lilliputian tussle over the fag-end of our globalised economy. But it seems we cannot see our own predicament.
Recent reports from sources as diverse as Lloyds Insurance and Chatham House, the UK Peak Oil Task Force, and US and German military think-tanks are the latest in a long list of warnings that we are at, or close to, a peak in global oil production. Peak oil refers to the time of the maximum rate of global oil production after which terminal decline sets in.
A-Jad visits the South Lebanese border:
BEIRUT (AP) - Hezbollah supporters used mosque loudspeakers Thursday to rally crowds ahead of a trip by Iran's president to southern Lebanon near the border with Israel, a visit the U.S. and Israel have called intentionally provocative.
Mahmoud Ahmadinejad arrived in Lebanon on Wednesday to a rapturous welcome organized by Hezbollah. His country is the main patron of the Shiite militant group, the most powerful military force in Lebanon.
China still withholding Rare Earths from Japan:
China released its last Japanese hostage Saturday, marking an end to the recent East China Sea conflict, but the diplomatic waters remain choppy. Trade and Industry Minister Akihiro Ohata confirmed Tuesday that China continues to wield a de facto export ban over Japanese industry, marking a new stage in China's aggressive behavior. Tokyo and other liberal capitals have been startled by this turn of events - which means it's long past time for policy makers to plan a better response to this serious threat.
Arab powers preparing for war?
While Western diplomats and sanctions-enforcers ply their trade to pressure Iran into stopping its uranium enrichment, much of the Middle East is already preparing for war. Headlines might focus on United Nations resolutions initiated by Western powers, or on fiery speeches delivered by Iranian President Mahmoud Ahmadinejad. But just a few hundred miles from Tehran, the Arab countries of the Persian Gulf have launched a race to arm themselves with an urgency and intensity reminiscent of America's defense build-up prior to its entry into World War II.
The magnitude of the weapons purchases is nothing short of astounding and the speed at which they are accelerating is breathtaking.
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