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08 Dec 12

CBO: Feds Borrowing $4.8 billion Per Day in FY 2013, So Far
The federal government ran a deficit of $292 billion for the first two months of fiscal year 2013 – October and November 2012 – amounting to $4.8 billion of borrowed money each day. “The federal budget deficit was $292 billion for the first two months of fiscal year 2013, $57 billion more than the shortfall recorded in October and November of last year,” CBO said in its Monthly Budget Review Friday.

Doha climate talks: US faces dilemma over final text
There has been a historic shift in the UN climate talks in Qatar, with the prospect of rich nations having to compensate poor nations for losses due to climate change. The US has fiercely opposed the measure - it says the cost could be unlimited. But after angry tussles throughout the night the principle of Loss and Damage is now in the final negotiating text.

Sudan docks Iranian warships, may strain Gulf ties
Saturday's visit by Iranian warships to Sudan, the second such visit in little over a month, risks widening divisions inside the African country's government and upsetting its Gulf Arab donors. Two Iranian navy ships also visited in October, days after Sudan accused Israel of bombing a weapons factory in the capital Khartoum.

Mashaal: First Gaza, then Ramallah, then Jerusalem
Thousands of Gazans gathered Saturday to to mark Hamas's founding and celebrate its "victory" over Israel. Hamas leader Khaled Mashaal, who attended the rally, set his sights on "liberating Palestine" upon his arrival in the Gaza Strip on Friday, his first-ever visit to the Palestinian enclave.

Sandy: Barack Obama asks Congress for $60bn
US President Barack Obama has requested more than $60bn (£37bn) from Congress for response, recovery and repairs in the wake of "Superstorm" Sandy. The scale of the request was welcomed by the governors of the two worst-hit states, New York and New Jersey. The White House said the storm was on track to be the second or third most costly storm in US history.

Report: Corruption Remains Widespread Global Problem
Anger over corruption has sparked mass demonstrations and even toppled governments in the past few years. But a global study published Wednesday by Transparency International finds the problem remains widespread. In Pakistan, teacher Bashir Bulti says it takes a bribe to get a job.

Philippine typhoon rescue operations hampered
Search and rescue operations following a typhoon that killed nearly 600 people in the southern Philippines have been hampered in part because many residents of this ravaged farming community are too stunned to assist recovery efforts, an official said Saturday

US consumer borrowing rises to record $2.75T
Americans swiped their credit cards more often in October and borrowed more to attend school and buy cars. The increases drove U.S. consumer debt to an all-time high. The Federal Reserve said Friday that consumers increased their borrowing by $14.2 billion in October from September. Total borrowing rose to a record $2.75 trillion.

Egyptian Opposition Rejects Dialogue with Mors
Egypt's President Mohamed Morsi has called for what he describes as a “comprehensive” dialogue Saturday with the opposition as the political crisis in the country enters its third week. Opposition leaders say they are not interested in engaging in discussions with Mr. Morsi unless a controversial presidential decree is revoked and a referendum on a draft constitution is canceled.

Supreme Court to Hear Two Challenges to Gay Marriage
The Supreme Court announced on Friday that it would enter the national debate over same-sex marriage, agreeing to hear a pair of cases challenging state and federal laws that define marriage to include only unions of a man and a woman.

Rebels circle Damascus airport; Russia, U.S. downbeat
Rebels fighting to topple Syrian President Bashar al-Assad declared Damascus International Airport a battle zone on Friday, while Moscow and Washington both sounded downbeat about the prospects of a diplomatic push to end the conflict.

Boehner says Obama pushing U.S. toward "fiscal cliff"
Republican House Speaker John Boehner accused President Barack Obama of pushing the country toward the "fiscal cliff" on Friday and of wasting another week without making progress in talks.


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07 Dec 12

Lone German Keynesian Advocates Pooling Euro Debt
“Germany would be the biggest loser in a euro breakup,” he says. With his right hand, he does an emphatic knife chop onto a small round table. “Somehow, we need to save this thing.”

EU sets out detailed "map" for euro zone's overhaul
European Union leaders will examine a detailed plan for completing a banking union and strengthening euro zone fiscal policy next week, with officials concerned that momentum is waning in tackling the debt crisis. In a report prepared for a December 13-14 EU summit, policymakers have set out a three-step process they hope will strengthen economic and monetary union and help prevent a repeat of the problems that have threatened the survival of the euro.

Obama 'Absolutely' Willing to Go Over Fiscal Cliff
The President who once claimed that he wanted to unify the country has a funny idea of how to make peace. Treasury Secretary Timothy Geithner told CNBC that the White House is "absolutely" ready to careen over the fiscal cliff if they don’t get their way on taxes for the wealthy.

FEMA teams told to 'sightsee' as Sandy victims suffered
That’s what first responders were left to do after being deployed by FEMA to assist in the storm-ravaged areas in the initial days after superstorm Sandy, FoxNews.com has learned. A FEMA worker who spoke to FoxNews.com described a chaotic scene at New Jersey's Fort Dix, where emergency workers arrived as the storm bore down on the Atlantic Coast. The worker said officials at the staging area were unprepared and told the incoming responders there was nothing for them to do for nearly four days.

Year Of Fires
Records maintained by the National Interagency Fire Center (NIFC) and NASA both indicate that 2012 was an extraordinary year for wildfires in the United States. NIFC statistics show that more than 9.1 million acres had burned as of November 30, 2012—the third highest total in a record that dates back to 1960.

FILAMENT ERUPTION
The Solar and Heliospheric Observatory (SOHO) detected a cloud of plasma emerging from the blast site; however, Earth does not appear to be in the line of fire.

Earthquake hits eastern province of Iran
An earthquake measuring 5.5 in magnitude struck eastern Iran on Wednesday, killing eight people and injuring 12 others as emergency teams scrambled to rescue others and treat the injured, Iranian media reported. People fled their homes as the quake struck and brought walls and buildings down. But others were left trapped under rubble in villages across the district of Zohan in South Khorasan province, Fars news agency said.

Russia, U.S. talk as Syria events "accelerate on the ground"
The two superpowers divided by Syria's civil war met head to head on Thursday, with signs emerging that Russia might curb its support for President Bashar al-Assad and Washington saying events were gathering speed on the ground. U.S. Secretary of State Hillary Clinton met Russian Foreign Minister Sergei Lavrov in Dublin on the sidelines of a security conference, at a time when rebel advances have brought the 20-month war to the doorstep of the capital DAMASCUS.

Strong quake hits off Japan near *********
The quake had a preliminary magnitude of 7.3, the U.S. Geological Survey said, and thousands of coastal residents were ordered to evacuate to higher ground, but the tsunami warning was lifted two hours after the tremor struck.

Landslide-Driven Megatsunamis Threaten Hawaii
It's almost unimaginable: a tsunami more than 1,000 feet (300 meters) high bearing down on the island of Hawaii. But scientists have new evidence of these monster waves, called megatsunamis, doing just that. The findings were presented here yesterday (Dec. 5) at the annual meeting of the American Geophysical Union. Unlike tsunamis from earthquakes, the Hawaiian tsunamis strike when the island chain's massive volcanoes collapse in humongous landslides.

Large, Peanut-Shaped Asteroid Headed Toward Earth
A giant asteroid is set to buzz Earth next week, and astronomers are already keeping their eyes on the skies—but not because 4179 Toutatis poses any danger.

In euro zone, a bleak economic outlook turns darker
The European Central Bank now sees the euro zone economy contracting by 0.5 per cent this year, slightly worse than its original projection of 0.4 per cent. The new 2013 forecast for the 17-nation group calls for a contraction of 0.3 per cent, compared with an earlier projection of 0.5-per-cent growth, while 2014 would see growth of 1 per cent.

Israel’s ‘iron shield’ a warning to Iran: we’re ready for you
Israel is close to completing a missile defence shield that will destroy Iranian ballistic missiles in space or on their launch pads, a development that has sharply increased the odds of an attack on Iran’s nuclear sites. Israel’s Iron Dome rocket defence system successfully knocked out 421 rockets — an 84-per-cent success rate — in a stunning demonstration of its capabilities during the conflict with Gaza last month.

G.I.s mass on border with Syria
At least 400 NATO soldiers from the U.S. and the Netherlands were beefing up Turkey’s border with Syria and readying Patriot missiles. “Nobody knows what such a regime is capable of and that is why we are acting protectively here,” German Foreign Minister Guido Westerwelle said of NATO’s move.

U.S. commander: N Korean situation 'very dangerous'
The commander of American troops in Japan said Thursday that the situation ahead of North Korea’s planned launch of a long-range rocket this month is “very dangerous.” Lt Gen Salvatore Angelella said U.S. troops in the country are closely monitoring activity in North Korea as it prepares for the launch. He said the United States sees the launch as a violation of U.N. restrictions in place to keep North Korea from developing its long-range missile capabilities.

Japan poised to shoot down North Korean missile
The order to destroy the missile should any part of it threaten to fall onto Japanese territory was issued after a meeting of the Security Council of Japan met in the morning and was informed that North Korea has begun has filling a fuel tank alongside the launch pad at the Sohae Satellite Launching Station in preparation for the launch.

Hamas leader Khaled Meshaal kisses Gaza soil on first visit
Accompanied by his deputy, Mussa Abu Marzuk, and other senior officials, Meshaal drove through the crossing and then got out and kissed the ground before embracing Gaza's Hamas prime minister Ismail Haniya. "I hope God will make me a martyr on the land of Palestine in Gaza," Mr Meshaal said.

NHTSA gets White House OK to mandate vehicle 'black boxes'
The National Highway Traffic Safety Administration is expected to finalize a long-awaited proposal to make event data recorders standard on all new vehicles. In a notice posted Thursday, the White House Office of Management Budget said it has completed a review of the proposal to make so-called vehicle "black boxes" mandatory in all cars and trucks, clearing the way for NHTSA to publish its final regulation.


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Zechariah 12:3,9:
And in that day will I make Jerusalem a burdensome stone for all people; And it shall come to pass in that day, that I will seek to destroy all the nations that come against Jerusalem.


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