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Jun 30, 2012

NYT Today's Headlines | Top News: Germany Cedes Some Ground in Steps to Bolster Euro

Today's Headlines



TOP NEWS

Reluctance in Some States Over Medicaid Expansion

By ROBERT PEAR and MICHAEL COOPER
Republican officials in more than a half-dozen states considered an option granted in the Supreme Court's decision on the health care law.

Germany Cedes Some Ground in Steps to Bolster Euro

By STEVEN ERLANGER and PAUL GEITNER
European leaders went a surprising distance toward restoring confidence in the shared currency, moving toward tighter economic integration and easing pressure on Spain and Italy.

Pitched to Perfection: Pop Star's Silent Partner

By JON CARAMANICA
As a vocal producer for Justin Bieber and other pop stars, Kuk Harrell is among the highly specialized talents who shape the sound of radio from the shadows.
QUOTATION OF THE DAY
"Right now, it's scary to get sick, because if you don't die from the sickness, you die when you see the bill."
GLADYS VASQUEZ, 50, a Houston home health aide who lacks health insurance.

U.S.

Audio & Photos: Voices of the Struggling in Texas

A day after the Supreme Court upheld President Obama's health care overhaul, three Texans expressed cautious hope that the law would bring them much needed help.
Opinion
Vamping With Nora
Opinionator

Vamping With Nora

The unexpected departure of a high-strung guest leaves two normally top-notch talkers scrambling to fill air time.
WORLD

Morsi Says He Will Work for Release of Sheik Jailed in U.S.

By DAVID D. KIRKPATRICK
A promise by Egypt's president-elect, Mohamed Morsi, to seek freedom for a man convicted of plotting attacks on New York City is likely to complicate ties with the United States.

Mexico Seems Poised to Embrace Party It Ousted in 2000

By RANDAL C. ARCHIBOLD
Enrique Peña Nieto, the nominee of the PRI for the Mexican presidency, leads in polls. A victory by him would be a startling reversal for a country that rejected the party in 2000.

Strauss-Kahn and Wife Separate, Tabloid Reports

By ELAINE SCIOLINO and MAÏA de la BAUME
No matter what the sin or scandal, Anne Sinclair bankrolled, excused, protected and even praised Dominique Strauss-Kahn, with passion and eloquence. Now she may be moving on.
U.S.

For Uninsured in Texas, Supreme Court Ruling Adds to Uncertainty

By MANNY FERNANDEZ
A day after the Supreme Court upheld most of the health care law, a blend of wariness, optimism and confusion spread amongst the uninsured of Texas.

Congress Approves a $127 Billion Transportation and Student Loan Package

By JONATHAN WEISMAN
Congress wrapped up a bruising session by passing a $127 billion measure that angered both fiscal conservatives and liberal environmentalists.

Obama Visits Colorado as Firefighting Progresses

By JACK HEALY
President Obama visited Colorado Springs to tour the aftermath of wildfires there as local authorities reported that the blaze had been partly contained and some evacuated residents returned to their homes.
POLITICS

For Opponents of Health Care Law, No Easy Road to Repeal

By JENNIFER STEINHAUER
Even if Republicans were to win the White House and a narrow Senate majority, undoing the major benefits and policies of the law would require the unlikely assent of Senate Democrats.

On Health Care Policy, Romney Favors G.O.P. Consensus

By TRIP GABRIEL and ROBERT PEAR
Mitt Romney has proposed tax breaks for individuals buying coverage, increased competition among insurers and greater flexibility for states to make health care more affordable.

For Obama, a Signature Issue That the Public Never Embraced Looms Large

By PETER BAKER
Two years after approval of the Affordable Care Act, the public is no happier with the law than it was then.
BUSINESS
DealBook

Peter Madoff Says He Didn't Know About the Fraud

By PETER LATTMAN and BEN PROTESS
Mr. Madoff, 66, agreed to serve 10 years in prison and forfeit all his assets. But in his guilty plea, he emphasized that at no time was he aware that his brother, Bernard, was orchestrating the largest Ponzi scheme in history.
Your Money

A Mortgage Rate Beginning With a 3

By TARA SIEGEL BERNARD
Qualifying for a mortgage rate beginning with a three is not impossible, but you will have to jump through more hoops than ever and you'll have a story to tell at the end.
Common Sense

In Obama's Victory, a Loss for Congress

By JAMES B. STEWART
Opponents of the health care law were buoyed by the Supreme Court's limiting of Congress's power under the commerce clause of the Constitution.
TECHNOLOGY

On YouTube, Amateur Is the New Pro

By ROB WALKER
Exploring the art and commerce of homemade videos.
Bits

The iPhone Turns 5. Here's What It Wrought.

By BRIAN X. CHEN
Love it or hate it, Apple's touch-screen handset has made an impact on some aspect of your life - whether it's how you work, communicate with friends, plan your day or read the news.
Bits

Digital Diary: Talking About Death Online

By JENNA WORTHAM
Posting about a personal loss online makes people - both the poster and the readers - uncomfortable. Why does the social Web seem limited to a few emotions?
SPORTS
Mets 9, Dodgers 0

Dickey Earns 12th Win as Mets Top Dodgers

By ANDREW KEH
R.A. Dickey scattered three hits in eight more dominant innings for the Mets as they routed the Dodgers, 9-0.

Track Town USA and the Meet It Loves Most

By KEN BELSON and MARY PILON
Some argue that the Olympic track and field trials, traditionally held in Eugene, could become too closely associated with the Oregon city and Nike, its deep-pocketed, local sponsor.

Second Shocker Lurks, but Federer Slips By

By BEN SHPIGEL
Roger Federer rallied from two sets down to defeat the 29th-seeded Julien Benneteau in the third round. Novak Djokovic, Maria Sharapova and Kim Clijsters were among the other winners Friday.
ARTS
Music Review

At the Apollo, the Jacksons Pay Homage to Their Roots and Their Brother

By JON PARELES
Michael Jackson's four older brothers - Jermaine, Marlon, Tito and Jackie - performed a show that balanced carefully between respect and exploitation.
Dance Review

A Prince Siegfried Ready to Move On

By GIA KOURLAS
On Thursday evening, Angel Corella gave his final performance with American Ballet Theater, as Prince Siegfried in "Swan Lake."
Critic's Notebook

Two Cities on the Verge of Devouring Themselves

By BEN BRANTLEY
In Britain the Belarus Free Theater's "Minsk, 2011: A Reply to Kathy Acker" depicts sex as a magnet for political repression, while Philip Ridley's "Mercury Fur" prepares a party in a lawless London of a not-too-distant future.
NEW YORK / REGION

No Cyclone or Hot Dogs, but Still the Boardwalk

By LIZ ROBBINS
Discarded wood from the Coney Island Boardwalk has spread from the Atlantic Ocean to the shores of the Pacific, emerging in museums, restaurants and other places.

Christie Limits Legislature's Scrutiny of Halfway Houses

By SAM DOLNICK
Gov. Chris Christie of New Jersey, who has close ties to the dominant operator of the state's privately run halfway houses, used line-item vetoes to limit lawmakers' efforts to bolster oversight.

After Shutdown, Tour Buses Vie For Local Riders

By JEFFREY E. SINGER and COREY KILGANNON
Small buses and vans stitching together some of New York's Chinese neighborhoods now have competition from some large buses whose operators were shut down by federal officials.
TRAVEL

Vacation Sabotage: Don't Let It Happen to You!

By MATT RICHTEL
With time off so scarce, why is fully enjoying it so hard? Eight rules for getting the most out of your next break. (Hint: Start practicing now.)

Driven to a Fjord Lately?

By ANAND GIRIDHARADAS
An amphibious trip through Norway's fjords, searching for the harsh old country of the Vikings in a land of $20 burgers and high-end hotels.
Frugal Traveler Blog

A $100 Weekend in Oslo

By SETH KUGEL
Island camping, Vikings, sculpture and a buffet help the Frugal Traveler spend a (relatively) cheap weekend in a very expensive city.
EDITORIALS
Editorial

It's Time to Set Up Exchanges

Republican-led states should stop stalling on implementing health care reform now that it is here to stay.
Editorial

The Muddled Way

In a meeting on the euro, European leaders have opted for crisis management, not crisis resolution.
Editorial

Score One for the Gun Lobby

The House's vote to hold Attorney General Eric Holder Jr. in contempt of Congress was a shameless exercise in political gamesmanship.
OP-ED
Op-Ed Contributor

After Genocide, Stifled Dissent

By TIMOTHY P. LONGMAN
A shadow hangs over Paul Kagame's Rwanda, in the form of persistent concern about intimidation of the political opposition.
Op-Ed Columnist

Obama, for the Win!

By CHARLES M. BLOW
The decision on health care reform has Republicans fuming. But, make no mistake, the ruling was a victory for the president and the nation.
Opinionator

Dream to Nightmare

By DOUG GLANVILLE
All baseball careers come to an end, but there's nothing worse than the promising one that never really gets started.
ON THIS DAY
On June 30, 1997, in Hong Kong, the Union Jack was lowered for the last time over Government House as Britain prepared to hand the colony back to China after ruling it for 156 years.

GATA | THE GATA DISPATCH: Hinde Capital's Ben Davies: 'Eyes wide shut' as debt bloats government and destroys productivity

Hinde Capital's Ben Davies: 'Eyes wide shut' as debt bloats government and destroys productivity

1:54p ICT Saturday, June 30, 2012

Hinde Capital CEO Ben Davies, who spoke at GATA's Gold Rush 2011 conference in London last year, has written an incisive diagnosis of the economic decline of the United Kingdom and by extension most of the West, concluding that the solution requires separation of bank and state.

Among other things, Davies' commentary, a report in two parts titled "Eyes Wide Shut," remarks:
"The 'naughties' was a decade of growth, but this growth was not real. It was not a growth borne out of production from savings but a false growth borne out of rising debt levels. The U.K.'s seeming prosperity was, and still is, an illusion.

"The UK experienced a credit-fueled boom predicated on escalating private sector borrowing drawn primarily out of the equity of rising house prices. The tax revenues this spawned allowed the Labor government to grow the hand of the state, leading to an unsustainable growth in public-sector debt.

"Money was not earned; it was borrowed and spent on fancy clothes, smart cars, and endless electronic devices whose fads changed by the hour. The rise in public-sector employment as a share of the U.K. economy not only helped reinforce this debt binge, as the new gainfully employed enjoyed the fruits of their labor, but it no doubt did not harm New Labor's re-election potential. A prosperous electorate, after all, is a happy electorate.
"As dreary as it is to rehash the point that we have too much debt (I hear you yawning), it does not negate the reality that the U.K. has not managed to deleverage its burdens some four years since the 'Great Financial Crisis' began. This reality has very grave implications for the U.K. economy and its people. ...
"Mounting debt that has merely boosted government consumption and transfer payments has undermined overall productivity growth and has led to economic stagnation and loss of economic freedom. Unfortunately, we believe that a nation will tend to bankrupt its citizens before it bankrupts itself; especially under a fiat currency system when it has the temptation to fund a welfare state through continued deficit financing. This is the case in the U.K. today."
Elaborating on his diagnosis in an interview Thursday on CNBC --
http://video.cnbc.com/gallery/?video=3000098263&play=1
-- Davies added: "We need monetary reform and out of that it begets political reform. ... We really have a state monopoly on the issuance of money ... and in that relationship with the banking sector, which is highly circular, you capitalize banks using sovereign debt." Davies advocates allowing competing forms of money, which implies, of course, terminating the Western central bank scheme of gold market manipulation.
Davies' commentary is a manifesto for limited government and greater individual economic freedom. It has been published in two parts with graphics in PDF format at the Hinde Capital Internet site.
Part I is here:
http://media.hindecapital.com/attachments/reports/full/129/original/Eyes...
And Part II is here:
http://media.hindecapital.com/attachments/reports/full/131/original/Eyes..
.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc
.

* * *

Join GATA here:
Toronto Resource Investment Conference
Thursday-Friday, September 27-28, 2012
Toronto Sheraton Centre Hotel
Toronto, Ontario, Canada
http://www.cambridgehouse.com/event/toronto-resource-investment-conferen...





NYT: ALERT FGC BOLSA - FGC FINANCIAL MARKETS



Alert Name: FGC BOLSA - FGC FINA
June 30, 2012

Mario Monti emerged at the European Union summit meeting as the uncontested leader of the “pro-growth” forces, and helped put Italy back on the diplomatic map.

The agreement, reached early Friday after all-night talks, cheered financial markets, but analysts warned that crucial details needed to be worked out.

Credibility would go a long way to bringing buy-and-hold investors back into euro zone debt, and European leaders took a step in that direction on Friday.

The agreement, reached early Friday after all-night talks, cheered financial markets, but analysts warned that crucial details needed to be worked out.

Stocks on Wall Street surged after European leaders agreed to use bailout funds to recapitalize struggling banks directly. Euro zone shares closed ahead 5 percent.