October 4, 2013
The Old Man is Back
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Media Network Online
Hard hitting global and local news
Hard hitting global and local news
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RT The Israeli Prime Minister may have left his cartoon bomb at home, but his latest appearance at the UN contained no shortage of dubious claims aimed at strangling the nascent US-Iran rapprochement in its cradle. Just three days after the historic phone call between US President Obama and Iranian President Rouhani, hopes for a thaw in relations between the two countries were dashed when Obama confirmed that military options were still on the table during a press conference with Israeli PM Benjamin Netanyahu in the Oval Office. In his eloquent address to the General assembly, Rouhani explicitly cited the "military options on the table" position as being an illegal and ineffective contention, prior to explicitly declaring, "peace is within reach." Obama’s unwillingness to deviate from his dominant line comes as no surprise looking back to his excessively uni-polar and exceptionalist address to the general assembly
In yet another act of economic stupidity, France targets Amazon to protect bookshops . France’s parliament has passed a law preventing internet booksellers from offering free delivery to customers, in an attempt to protect the country’s struggling bookshops from the growing dominance of US online retailer Amazon.
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The New York Times has the details in Boehner Tells Republicans He Won’t Let the Nation Default With a budget deal still elusive and a deadline approaching on raising the debt ceiling, Speaker John A. Boehner has told colleagues that he is determined to prevent a federal default and is willing to pass a measure through a combination of Republican and Democratic votes, according to one House Republican.
Reuters reports Pimco’s Gross: Low interest rates may persist for decades Bill Gross, manager of The Pimco Total Return Fund, said on Wednesday that the global economy may be facing low policy rates for decades. Gross wrote in his October investment outlook that investors should "bet against" expectations that the federal funds rate – the U.S. Federal Reserve’s benchmark short-term borrowing rate – will rise by one percentage point by late 2015
More: Social Security "Lock Box" Revisited (and Its Relation to the Government Shutdown)
Here’s an interesting chart of Spain’s budget allocation courtesy of La Vanguardia .
Read More: Vallejo, Mired in Pension Debt Again; Lesson for Stockton and Detroit – Shed Those Pension Obligations Now!