By JOSH KRON and JEFFREY GETTLEMAN (NYT)

The northern Sudanese military is on a “house-to-house” hunt for opposition forces in the embattled city of Kadugli, near Sudan’s disputed internal border.

Ethnic Protests in China Have Lengthy Roots

By ANDREW JACOBS

The ethnic Mongolian protests that have swept a number of China's cities in recent weeks are a sobering reminder of discontent in some of China's 55 ethnic minorities.

Syrian Forces Storm Into Restive Town Near Turkey

By SEBNEM ARSU and LIAM STACK

Syrian forces swept into the northern village of Jisr al-Shoughour, a town that has offered the stiffest challenge to four decades of Assad family rule.

Opposition Is Split on How to Reshape Yemen

By THE NEW YORK TIMES

Some say the path forward must include radical changes and others are urging a more moderate political resolution endorsed by the United States and Yemen's Arab neighbors.

Blunt U.S. Warning Reveals Deep Strains in NATO

By THOM SHANKER and STEVEN ERLANGER

The warning by Defense Secretary Robert M. Gates came amid growing U.S. resentment against NATO over the air war in Libya.

American Banks 'High' On Drug Money: How a Whistleblower Blew the Lid Off Wachovia-Drug Cartel Money Laundering Scheme

A fraud investigator helped expose the shocking world of multi-billion dollar drug laundering by American banks and the surprising lack of oversight by the Feds.

By PAUL KRUGMAN (NYT)

Who benefits from economic stagnation?

Companies Spend on Equipment, Not Workers

By CATHERINE RAMPELL

As the economy recovers, companies' capital spending is growing faster than their spending on employees, encouraged by tax breaks and falling prices for equipment.

Egypt's Economy Slows to a Crawl; Revolt Is Tested

By DAVID D. KIRKPATRICK and DINA SALAH AMER

In a region where economic woes enraged an entire generation, whether and how Egypt can fix its broken finances will be a key factor in determining the revolution's success.

Another day, another poll. On Wednesday, the latest CNN/Opinion Research poll was released, and to no one’s surprise, President Barack Obama’s approval numbers have declined. His post-Osama bounce has become a dead terrorist bounce…and the POTUS is back where he was back in April.

So Harry Blodget of Business Insider asks what the Democratic Party hopes will be a helpful question. Are Republicans Intentionally Sabotaging The Economy For Political Gain? It’s an interesting theory and perhaps the makings of an excuse for the profoundly inexcusable. You see according to Harry Blodget’s friend and colleague Dan Gross, the GOP is on an economic sapping mission in the run-up to the 2012 Elections.

Wall Street CEO's Bizarre Idea About Why the Recovery Has Stalled: Banks Are Too Regulated?

JP Morgan Chase CEO Jamie Dimon says regulating the banks whose antics caused the recession is stalling the economy's recovery.

As AT&T and T-Mobile Edge Closer to Merger, What's In It For Customers? Very Little.

Telecom companies are rigging the game to make bigger profits on mostly-unregulated wireless, even as giant mergers eliminate most competition.

Surviving a Heart Attack with thymosin beta-4

Mice in the lab were more likely to survive a heart attack if they had received daily injections of thymosin beta-4 a week beforehand. Their stem cells were active within 24 hours of the attack instead of a week, and they produced larger numbers. The treated mice regrew more heart muscle than the untreated mice and their hearts pumped better (Nature, DOI: 10.1038/nature10188).

US and Greek military personnel exercise

Greek and US military personnel will undergo joint training for peacekeeping operations in populated urban areas, training that will be held at a special training centre in Drossato, Kilkis prefecture in northern Greece, next week. 

The exercise will take place with the participation of a small number of personnel from the 79th Airborne Brigade and a limited number of US military personnel. 

"The aim of the training is familiarisation with the demands associated with the military missions abroad, more specifically, with participation in peacekeeping and humanitarian aid missions, such as KFOR and ISAF," the Hellenic Army General Staff announced. 

"The aforementioned training activity has absolutely nothing to do with policing-type actions inside the country, considering that they are not part of the mission of the armed forces as defined in the Constitution," the same press release stressed.

Greece risks seed after 1-1 draw with Ecuador

Greece drew 1-1 with Ecuador in a friendly in New York, after a modest display, and risks missing out on getting seeded for the 2014 World Cup draw next month.

More calls for consensus but ND reluctant to agree

 Juncker underlines need for agreement but ND says measures are wrong

The head of the Eurogroup, Jean-Claude Juncker, has reiterated calls for cross-party agreement on economic measures in Greece but a New Democracy spokesman has said that the conservatives have key disagreements with the policies the government has agreed with the troika and will only provide “targeted consensus”.

By AGNES T. CRANE and RICHARD BEALES (NYT)

As the government and private industry rewrite home mortgage rules, it is crucial that they settle on the correct size of the future mortgage market.

By JACKIE CALMES (NYT)

Recent signs that the economic recovery is flagging have introduced a new tension into the bipartisan budget negotiations.

In Saudi Arabia, Royal Funds Buy Peace for Now

By NEIL MacFARQUHAR

This oil-rich kingdom is spending $130 billion to pump up salaries, build housing and finance religious organizations, effectively neutralizing any opposition.

Last week, three Boeing employees, whose jobs are at stake due to the National Labor Relations Board’s prosecution of their employer, filed to intervene in the case.

Now, just a few days later, Lafe Solomon has declared that he is opposed to their intervention in the case–even though they stand a good chance of losing their jobs due to the union and the NLRB’s actions.

Members of the Tea Party and the conservative movement need to be prepared for some serious disappointment if news reports are correct. News reports have emerged indicating that that “dollar for dollar” cuts to spending promised as part of a grand bargain to increase the debt ceiling may be pro-rated over 10, 20 or even 25 years. It is easy for politicians to promise future cuts to spending when many of these politicians cutting the deal will be long gone from Washington, DC.

Politically this deal is very attractive for incumbents of both parties. A $2.4 trillion debt limit increase would negate the need for a further increase in the debt limit until after the next Congressional and Presidential election. This level of a debt limit increase would protect House and Senate incumbent Republicans and Democrats from any further politically difficult votes before they have to face the voters in November of 2012.

The John Edwards Cheat Sheet: What Are the Facts, and Do They Make Him a Criminal?

It almost goes without saying that a sex scandal and lovechild splashed in the headlines would have hurt—if not derailed—Edwards’ campaign.

Playing With Default: Republicans Are Risking Economic Disaster by Bickering Over the Debt Ceiling

A default on U.S. debt could drive the global economy into a recession worse than that from which we have been slowly emerging.

Don't Call Them "Post-Racial": How Young People Actually Think About Race

Too many people have taken the established fact of increased racial tolerance among today's youth and hastily labeled them "post-racial."

Israel-Palestine Conflict Still a Hot-Button Issue in Middle East Politics

By NICK BUNKLEY (NYT)

Daniel F. Akerson, the chief executive of General Motors, said that he hopes the government will be able to sell its stake in the automaker soon and expressed concern about the country’s economic recovery.

By THE ASSOCIATED PRESS (NYT)

Households borrowed nearly $7.2 billion, but credit card use fell for the second time in three months.

Greek News
Greece drew 1-1 with Ecuador

By George Georgakopoulos - Greece drew 1-1 with Ecuador in a friendly in New York on June 7, after a modest display, and risks missing out on getting seeded for the 2014 World Cup draw next month.

Η ενημέρωση των πολιτικών συντακτών και των ανταποκριτών ξένου Τύπου από τον Κυβερνητικό Εκπρόσωπο, Γιώργο Πεταλωτή. | 07.06.2011

Fact Sheet: U.S.-Germany Science and Technology Cooperation

President Obama Announces Key Administration Post

Pressure builds for sale of F-16 jets to Taiwan

By Bill Gertz - The Washington Times

Congress is stepping up pressure on the Obama administration to sell more F-16 jet fighters to Taiwan as the island’s air defenses deteriorate and China’s air power grows.

NATO rejects Russian missile-defense proposal

By Stephen Levy - The Washington Times

NATO’s senior leader on Tuesday rejected a Russian government proposal that would have required the European alliance to share details on a continentwide missile-defense system.

Bernanke sounds hopeful note on growth

By Patrice Hill - The Washington Times

Federal Reserve Chairman Ben S. Bernanke sounded an optimistic note Tuesday that economic growth will pick up in the summer and fall after softening this spring under the weight of high gasoline prices and disruptions from the Japanese earthquake.

Goolsbee exit comes at tough time for Obama, economy

By Dave Boyer - The Washington Times

President Obama’s chief economist is departing as the administration’s nearly trillion-dollar recovery is losing steam and Mr. Obama concedes that lackluster job growth could become a trend.

Europe Wrestles With Solutions for Greek Debt Crisis

Germany and other strong euro-zone countries want private-sector creditors to bear some of the burden for another bailout of Greece. But the European Central Bank, backed by France, doesn't want to do anything that would cast Greece into default.

Pawlenty Stakes Out New Tax Ground

Pawlenty proposed big reductions in the corporate and individual tax rates while calling for deep spending cuts that could see the government abandon its role delivering mail or backstopping home loans.

Fed Sees U.S. Recovery Lagging

Bernanke offered a relatively glum view of the economy, acknowledging that it is growing more slowly than the Fed had expected, but predicted improvement later this year.

At Morgan Stanley, Focus on Costs

Morgan Stanley offered a glimpse into Wall Street's future, and the outlook has changed so much from the heady days of the past that the firm is planning to keep a close watch on BlackBerry usage.

Austerity Measures Will Only Worsen Current Recession

There’s no chance consumers will soon rescue the economy. The only hope for a speedy recovery is for the government to increase spending in the right ways.

Immigration Program Is Rejected by Third State

By JULIA PRESTON

Massachusetts has joined New York and Illinois in refusing to participate in a fingerprint-sharing program that is central to the Obama administration's immigration enforcement strategy.

Israel Disputes Toll of Border Clashes, Saying Syria Has an Ulterior Motive

By ISABEL KERSHNER

Israeli military officials disputed Monday the casualty figures announced by Syria a day earlier, after Israeli forces fired on protesters who had tried to breach the Syrian frontier.

U.S. Braces for Withdrawal Along Iraqi Road

By MICHAEL S. SCHMIDT

American commanders say troops could be easy targets for insurgents as they depart along a 160-mile stretch.

I am sure you will read a lot about Congressman Weiner and his scandal and morality and failed politicians and us versus them and David Vitter, Larry Craig and Ted Kennedy and what have you. I am sure you will. I am not sure you will read anything similar to my take on this, which is admittedly not as partisan as some other takes may be. But, I think it is the right take.

In a different age, Anthony Weiner would have packed up shop and left Congress with a bag over his head in disgrace. Certainly Congressman Lee left in disgrace, but that had as much to do with his family demands and the demands of his constituency as anything else. In noting that Congressman Weiner staying in office is a failure of morality in the present age, left-wing partisans were quick to bring up the names of Sen. David Vitter, Sen. Larry Craig, Sen. John Ensign, and others.

Michele Bachmann is bring Ed Rollins on board to run her Presidential campaign.

Rollins was Ronald Reagan’s campaign manager in 1984, a fact downplayed by a lot of people who think Reagan’s landslide in 1984 had nothing to do with Rollins.

Whether you are impressed by that or not, pay attention to the next one: Rollins took Mike Huckabee’s 2008 upstart campaign into overdrive and gave Romney, McCain, and the rest a run for their money.

I’m already hearing from people on the ground in Iowa that Bachmann has the potentially to make huge waves there. Given what Huck did in 2008 and Rollins’ knowledge of the lay of the land, it could turn Michele Bachmann into a serious contender for evangelicals and transition her from just being seen as a tea party candidate.

How Twisted American Exceptionalism Leads to Criminal Behavior on a Global Scale

The US, whose leaders claim to have the secret to world salvation, corrupts international law to target others while protecting its own nationals from that same law.

9 Signs That We May Be Living Through Another Depression
Three in 10 Americans say we're living through another depression -- are they right?

A Disabled Boy's Death, and a System in Disarray

By DANNY HAKIM

A seemingly inexplicable willingness by supervisors to tolerate abuse seems to pervade institutions that house residents with developmental disabilities, a New York Times investigation shows.

Syrian Army Kills 38 In North, Reports Say

By LIAM STACK

Security forces appeared to redeploy from other towns to join the latest front in the harsh crackdown on a three-month-old popular uprising against the government.

Israeli Soldiers Shoot at Protesters on Syrian Border

By ISABEL KERSHNER

Israeli forces fired at protesters on the Syrian frontier after protesters tried to breach the border for the second time in three weeks. A Syrian news agency reported 22 killed.

Steeper Pullout Is Raised as Option for Afghanistan

By DAVID E. SANGER, ERIC SCHMITT and THOM SHANKER

President Obama's national security team is pondering greater troop reductions, with some officials saying the rising cost of the war and the death of Osama bin Laden justify a change.

3 Massive World Events That Will Change Your Life

Crucial developments taking place in 2011 are changing the way we are likely to live on this planet for the foreseeable future.

Why You Want the Government Running Health, Education and Defense

The public sector often provides services faster, cheaper and more effectively.

Oil Companies Tax Loopholes

Researched by Gabriel Kazakias

Americans eager to reduce the mammoth federal debt that threatens our economy’s long-term prosperity overwhelmingly support ridding the tax code of these unnecessary subsidies.

The cost of Big Oil’s loopholes

·       $4 billion: Cost of Big Oil tax breaks in 2011.

·       $2 billion: Cost of Big Oil tax breaks eliminated by S. 940.

·       $77 billion: Cost of Big Oil tax breaks from 2011 to 2021.

Big Oil profits

·       $902 billion: Total profits for the five biggest oil companies in the United States, 2001–2010 (in 2011 dollars).

• $32 billion: Total Big Oil earnings, first quarter of 2011. Exxon Mobil alone accounted for $10.7 billion of that figure.
• 38 percent: Big Oil’s first-quarter-2011 profit increase over the first quarter of 2010.
• 28 percent: Increase in gasoline prices compared to 2010.
• 53 percent: Portion of their profits that both Exxon Mobil and ConocoPhillips spent repurchasing stock to drive up their companies’ share values in the first quarter of 2011.
• $8 billion: The amount of first-quarter profits the big five companies spent on stock buybacks.

Low effective tax rates for Exxon Mobil

·       17.6 percent: Average effective federal corporate tax rate paid by Exxon Mobil, 2008–2010.

·       20.4 percent: Average American individual federal effective tax rate in 2007 (the last year of available data).

Oil campaign cash and votes to close loopholes

·       $273,500: Big Oil campaign contributions to Republican senators and representatives in the first quarter of 2011.

·       $7,000: Big Oil campaign contributions to Democratic senators and representatives in the first quarter of 2011.

Public supports ending tax breaks

·       66 percent: The proportion of Americans who say gas prices are taking a toll on their personal finances, according to a recent CNN poll.

·       74 percent: The proportion of Americans who favor “eliminating tax credits for the oil and gas industry,” according to a NBC News/Wall Street Journal survey.

What oil tax dollars could buy

·       $21 billion reduction in the federal budget deficit by enactment of the Close Big Oil Tax Loopholes Act (S. 940), which would close tax loopholes for the big five oil companies over the next 10 years.

·       $30 billion for Medicare if tax loopholes were eliminated for all Big Oil companies. This would offset the Medicare cuts in the fiscal year 2012 budget resolution that was passed by the House on April 15.

Drug Can Reduce Risk of Breast Cancer, Study Says

By ANDREW POLLACK

A drug now used to prevent recurrences of breast cancer can also prevent it from occurring in the first place.

For the Jobless, Little U.S. Help on Foreclosure

By ANDREW MARTIN

Programs already plagued by delays and poor participation were not designed to fully address unemployment, now the primary cause of foreclosures.

Dems press Obama on Medicare

House Democrats call on the president to stand firm on entitlements in debt negotiations with the GOP.

America on the march: Left, right

Ryan plan would endanger Medicare

I read Alexis Papachelas' commentary published on Wednesday, June 1, 2011 ("What are they trying to save?") with a mixture of amusement and indignation. Does he really believe that the European technocrats who are ordering the Greek government to give them oversight authority and veto power over the actions of a sovereign government are nothing more than a benevolent humanitarian force focused on the altruistic mission of rebuilding Greece and the Greeks for the natives’ own good? Apparently he does. How else can one explain statements such as this one:
"Let us look at our state straight on and accept all the help we can get in order to rebuild it properly. Even now things are getting better in some crucial sectors, with a lot of blood, sweat and tears."
Leaving aside the obvious question of which sector exactly is «getting better» and how exactly this «gain» is being measured, one is tempted to point out that this kind of rhetoric is reminiscent of the kind to be found in the mouths of a portion of the population living in so-called banana republics. This self-proclaimed «enlightened» portion of the community constantly denigrates the ability of the natives to make decisions for themselves and persistently calls for foreign intervention to help the locals reach objectives that their limited intellectual capabilities cannot possibly achieve without the altruistic and benign intervention of a foreign agency.

By Stavros Lygeros

It took one publication saying that Germany was ready to agree to an additional loan of 60-65 billion euros for optimism to soar in Greece. Even the gasping Athens stock exchange perked up.

The truth, however, is that clouds continue to darken the horizon, as the memorandum is based on the assumption that by early 2012 Greece will be ready to return to the markets. The way things look right now, though, it is unlikely that the markets will be ready to open their doors to Greece.

In order for a default to be avoided, Greece needs to either restructure its debt or to receive additional loans. The European Central Bank rejects the idea of restructuring. The only option that is under consideration is a voluntary reprofiling to avoid triggering credit default swaps. This is the reason why the eurozone is increasingly warming to the solution of a new loan package.