* The American President finally finds an international crisis he really cares about -- supporting the illegal claims of a left wing dictator in Honduras. In doing so, Barack Obama falls in line with Fidel Castro and Hugo Chavez.* The U.S. Congress votes to approve legislation that would have the most cataclysmic economic, cultural and political effects on the whole of society -- and not a single member even read the thing!
* There are reports that as many as a dozen worshipers of Michael Jackson have committed suicide following news of the singer's death. Camera-loving Jesse Jackson, who has been acting as the Jackson family spokesman, shows up on a You Tube video clip appealing to MJ's fans to "create futures, not funerals to make Michael happy."
* In the White House East Room, President Obama hosts a event for 300 people to "honor" the 40th anniversary of the Stonewall Riots in New York, the event which is regarded as the beginning of the homosexual rights movement.
* A local oldies radio station here staged a live promotion a few days ago for a company which has opened a new laboratory testing place. The on-air interview featured the company's manager bragging about how a person could be tested for cholesterol, STDs, drugs, paternity and on and on. He was especially keen to point out that they offered a fidelity test, one in which you could find out if your lover is cheating on you by bringing in their underwear. Good grief.
* At the end of 2008, America's net international investment position was minus $3.47 trillion, the Commerce Department reported Friday. That represents the difference between the value of U.S. assets owned by foreigners ($23.36 trillion) and the value of foreign assets owned by Americans ($19.89 trillion)...
Foreigners now hold nearly 50 percent of the federal government's publicly held debt. If foreign investors significantly reduce their purchase of future U.S. Treasury debt securities, without even dumping their current holdings, U.S. interest rates could soar and the dollar could collapse, analysts fear.
At minus $3.47 trillion, America's net debtor status with foreigners represents nearly 25 percent of U.S. gross domestic product, the highest level in history. (Washington Times, June 27)
