Daily Highlights 2010-08-12

From the WSJ - Stocks Tumble 2.5%
Unsettling data and central-bank messages from the U.S., Asia and Europe pushed global growth fears to the fore on Wednesday, prompting investors around the world to dive into safer assets.  Blue-chip stocks posted their worst daily decline in more than a month, pushing the Dow Jones Industrial Average into negative territory for the year.  Commodities plunged and the euro tumbled. Traders snapped up safe-haven Treasury's, pushing yields ever lower. And a key measure of volatility and investor fears spiked.  (Good thing that this is the summer of Recovery.)  http://online.wsj.com/article/SB10001424052748704901104575422901187797266.html?mod=WSJ_myyahoo_module

From the WSJ - Voters Grim
By PETER WALLSTEN And ELIZA GRAY


Americans are growing more pessimistic about the economy and the war in Afghanistan, and are losing faith that Democrats have better solutions than Republicans, according to a new Wall Street Journal/NBC News poll.  Underpinning the gloom: Nearly two-thirds of Americans believe the economy has yet to hit bottom, a sharply higher percentage than the 53% who felt that way in January.  The sour national mood appears all-encompassing and is dragging down ratings for the GOP too, suggesting voters above all are disenchanted with the political establishment in Washington. Just 24% express positive feelings about the Republican Party, a new low in the 21-year history of the Journal's survey. Democrats are only slightly more popular, but also near an all-time low.  (In many countries we could have a vote of "No Confidence" and Obama would be out.)  http://online.wsj.com/article/SB10001424052748704901104575423674269169684.html?mod=WSJ_hps_MIDDLETopStories

Illegal Immigrants Estimated to Account for 1 in 12 U.S. Births .
By MIRIAM JORDAN


One in 12 babies born in the U.S. in 2008 were offspring of illegal immigrants, according to a new study, an estimate that could inflame the debate over birthright citizenship.  Dozens of U.S.-born children and their undocumented parents traveled to Washington last month to demonstrate against deportations of illegal immigrant parents.  .Undocumented immigrants make up slightly more than 4% of the U.S. adult population. However, their babies represented twice that share, or 8%, of all births on U.S. soil in 2008, according to the nonpartisan Pew Hispanic Center's report.  http://online.wsj.com/article/SB10001424052748704216804575423641955803732.html?mod=WSJ_newsreel_us

From The Hill -
Obama says worst of recession is over - amid turmoil on Wall St.


By Ian Swanson - 08/11/10 10:23 PM ET

Wall Street gave a thumbs down to the economy as the Dow Jones slipped into the red for the year.
Wednesday's tough day on the markets is the latest piece of difficult news for the White House, which is trying to promote last year's $787 billion stimulus through a series of events it has dubbed the "recovery summer."   (It  must be beautiful on Planet Obama.  You can make it look like whatever you'd like.)
http://thehill.com/blogs/on-the-money/801-economy/113837-stocks-fall-after-fed-move-as-double-dip-fears-continue

From The Hill

White House: U.S. 'on target' to end Iraq combat mission


By Sam Youngman - 08/11/10 04:41 PM ET

The U.S. is "on target" to end its combat mission in Iraq at the end of the month, White House press secretary Robert Gibbs said Wednesday.
But even as Operation Iraqi Freedom comes to an end Aug. 31, President Obama and his team have warned that violence will continue as Iraqis take more responsibility for their security and governance.   (On Target?  I guess that on Planet Obama Target is whatever he wants it to be today.  The target he used to get elected was 16 months from election.  We must be out by now!)
http://thehill.com/homenews/administration/113821-us-on-target-to-end-iraq-combat-mission-this-month


From Townhall
Obama’s Transparency Charade Continues

EMAIL HOWARD RICH
COLUMNIST'S ARCHIVE SHARE THIS: Share 0diggSign-Up The more things “change,” the more they stay the same in Barack Obama’s Washington, D.C. – especially when it comes to government transparency. After decrying his predecessor as the “most secretive” President in American history, then-candidate Obama promised in 2008 to usher in a new era of transparency in our nation’s capital. Two years later however, this campaign rhetoric has proven every bit as hollow and hypocritical as Obama’s pledge to refrain from raising taxes on the middle class (which he violated at least a dozen times upon signing his new socialized medicine legislation).   "Hypocrisy can afford to be magnificent in its promises, for never intending to go beyond "promise", it costs nothing."  Edmund Burke
http://townhall.com/columnists/HowardRich/2010/08/12/obama’s_transparency_charade_continues


From Town Hall - Larry Elder

 Is Obama Winning the Hearts and Minds of the Arab and Muslim World?
Larry Elder Is Obama Winning the Hearts and Minds of the Arab and Muslim World?

EMAIL LARRY ELDER
COLUMNIST'S ARCHIVE SHARE THIS: Share31 900diggsdiggSign-Up "It's conceivable," said then-presidential candidate Barack Obama in 2008, "that there are those in the Arab world who say to themselves, 'This is a guy who spent some time in the Muslim world, has a middle name of Hussein, and appears more worldly and has called for talks with people, and so he's not going to be engaging in the same sort of cowboy diplomacy as George Bush."  He also said, "I will stand with the Muslims should the political winds shift in an ugly direction."  (Quote from "Audacity of Hope")
http://townhall.com/columnists/LarryElder/2010/08/12/is_obama_winning_the_hearts_and_minds_of_the_arab_and_muslim_world

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