World-News

Simon Johnson, Project Syndicate: 'John Boehner, Speaker of the United States House of Representatives, is leading the Republican Party s charge on fiscal policy, arguing that his side needs to see 'trillions of dollars' in spending cuts in order for Congress to approve an increase in the US government s debt ceiling. But framing the issue this way creates a major problem for Boehner: it will directly, completely, and quickly antagonize one of the Republicans' most important constituencies - the US corporate sector.'

http://www.truthout.org/will-us-have-debt-crisis/1305723881



Middle-Class Warriors Storm JP Morgan Chase Meeting

Mike Ludwig, Truthout: 'Hundreds of protesters greeted JP Morgan Chase bank shareholders at their annual meeting in Columbus, Ohio, on Tuesday to tell the big bank that it s time for Wall Street pay up for its part in the financial and foreclosure crisis that has cost residents in Ohio cities $1.6 billion in property values since 2009. The protest was held as regulators and state attorneys generals continue to investigate the lending practices of big banks like Chase, Wells Fargo and Bank of America that are suspected of committing foreclosure fraud during the economic and housing crisis.'

http://www.truthout.org/middle-class-warriors-storm-jp-morgan-chase-meeting-ohio/1305730199



What s Inside Big Oil s Head?

Jim Hightower, Truthout: 'The big five of Big Oil might want to mull over a bit of advice that baseball great Ted Williams once offered to rookies: 'If you don't think too good, don't think too much.' Apparently, the chieftains of BP, Chevron, ConocoPhillips, ExxonMobil and Shell thought that a bit of gruff, CEO bluster would be just the thing to brush back public anger over the industry s all-star avarice and arrogance. Bad thinking.'

http://www.truthout.org/whats-inside-big-oils-head/1305724856



Eric Cantor Promises Oil Speculators That Republicans Will Block Financial Regulations

Lee Fang, ThinkProgress: 'Yesterday morning, House Majority Leader Rep. Eric Cantor (R-VA) visited the Chicago headquarters of the CME Group, 'the world's largest owner and operator' of private exchanges for derivatives products. CME Group specializes in a number of markets, including trading futures contracts for various blends of crude oil and food commodities. Cantor met with executives, and at one point, gave brief remarks before CME Group employees and various commodity speculators.'

http://www.truthout.org/eric-cantor-promises-oil-speculators-republicans-will-block-financial-regulations/1305740445



The Great Switch by the Super Rich

Robert Reich, Robert Reich s Blog: 'Forty years ago, wealthy Americans financed the U.S. government mainly through their tax payments. Today wealthy Americans finance the government mainly by lending it money. While foreigners own most of our national debt, over 40 percent is owned by Americans - mostly the very wealthy.'

http://www.truthout.org/great-switch-super-rich/1305737742



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