Americans ’Hooked’ on Government Benefits – Bloomberg    “A Record 49 Percent of Americans Live in a Household Where Someone Receives at Least One Type of Government Benefit”

Europe Runs Out of Money: Forgive Us Our Debts – Weekly Standard

The Divider vs. the Thinker – Wall Street Journal    “While Obama Readies an Ugly Campaign, Paul Ryan Gives a Serious Account of What Ails America”

The Supercommittee Isn’t Making Super Cuts – Investor’s Business Daily

Obama’s Party Dodge – NY Post    Keeps Referring to Congress as “The Republican Congress”

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By Bill Frezza

The chattering classes are peddling a new meme designed to control the narrative surrounding the arrested adolescents who’ve been camping out in lower Manhattan, raging against the machine. Earlier attempts at shaping the story tried to characterize the protests as an American Arab Spring. That petered out when the liberal opinion factory realized that this storyline leads toward regime change, not the reelection of failed incumbents.

So now a new Read More »

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Can America Survive Without Its Backbone, the Middle Class? – Telegraph

Spain: Unemployment Rises to 21.52% in the Third Quarter – El Economista    Pain and Anguish Clearly Spreading to Other Parts of Europe, Not Just Greece

Crisis Fatigue May Be Setting in and Affecting the Markets – LA Times

A Spotlight Now Shines on Italy – NY Times    Actually, You Need to Watch Both Spain and Portugal As Well

Did You Hear the One About the Bankers? – NY Times    Another Incredible Example of Wall Street Greed and Total Disregard for the Public!

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By Peter Morici

Seeking to jump start his flagging campaign and establish his pro-growth and fiscal responsibility credentials, Governor Rick Perry is unveiling a tax plan that will not jump start the economy and is fiscally irresponsible.

In a nutshell, Mr. Perry would give taxpayers a choice between filing under the current income tax system—with all its flaws—and an alternative flat tax 20 percent system. Under the latter, families could maintain their mortgage deductions Read More »

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EDITOR’S COMMENT: Again, great insight and analysis of the Euroland debt crisis situation. As we discussed yesterday, this situation is far from being resolved.

By Graham Summers

The markets are exploding higher this morning on news of the expanded Euro Bailout. The numbers at the moment are

A 50% haircut for private Greek bondholders
European banks have eight months to raise about $147 billion in capital
An expansion of the European Financial Stability facility to Read More »

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Europe’s Systemic Irresponsibility – Financial Post   “They Can Never Find a Long-Term Solution Until They Acknowledge Their Problem: Systemic Irresponsibility.”

Analysis: Euro Zone Debt Deal Tackles Symptoms Not Cause – Reuters

Why the Summit to End All Summits Solves Nothing – Telegraph   “It Might Buy a Little Time, But It Is No Kind of Long-Term Solution”

Is Student Loan Forgiveness Obama’s Next Crisis? – Investor’s Business Daily

Why Barack Obama Is the Decline and Despair President – Telegraph

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EDITOR’S COMMENT: Apparently, this White House will totally disregard their fiscal responsibilities to the American public in order for Obama to be re-elected. Another example of this is the President’s latest proposal to limit the amount of payments that student borrowers need to pay back, coupled with a total debt forgiveness of any unpaid amounts after twenty years, just guarantees adding a major part of about Read More »

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GOP Offers $2.2T in Deficit Cuts to the Deficit Supercommittee – The Hill

Middle-Class Squeeze Redefining Poverty as Middle-Income Jobs Decline – Asbury Park Press

Media Double Standard Between the Tea Party and Occupy Wall Street – NY Post   “CEOs Clapping Loudly for OWS”

Miami Home Sales Spike 46% in September, 2011 on Pace to Shatter 2005 Sales Peak – World Property Channel   Interesting!  Int’l Sales Fueling Demand

Are Rich Foreigners the Answer to America’s Housing Crash? – Telegraph

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By Michael Finger, Communications Specialist for Euro Pacific Capital

In an agreement announced overnight, the European Union offered $100 billion to stem an imminent Greek debt default in exchange for a 50% haircut to Greek bondholders. This is a bittersweet victory for those of us who believe in the power of the free market.

When the US government undertook its largest round of bailouts in 2008, it bought nearly worthless assets at 100¢ on the Read More »

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