Headline Report for Oct. 26, 2010

The top news long-term, continues to be the following ISSUES:

    * Financial Crisis

    * Cultural War (between the left and right)

Short-term top news centers on the following EVENTS:

    * Iranian influence in Afghanistan

    * Final jockeying for election day Nov. 2

Financial Crisis: The Obama Administration’s futile efforts to control China continue as efforts shift from a direct relationship to seeking regional allies to confront China (Taking Harder Stance Toward China, Obama Lines Up Allies). In the meantime Bloomberg reports Fed Chairman Bernanke is likely to spark significant inflation in “another round of large-scale asset purchases” (Bernanke Asset Purchases Risk Unleashing 1970s Inflation Genie). But with China now selling, not buying, Tbills my question is how long can other governments prop up the dollar via U.S. bond purchases (China's money and fair-weather American friends), especially considering the financial condition of most of the rest of Western countries?

Cultural War: Europe’s continues to patience with multi-culturalism continues to wane, even in more progressive countries (Anti-Muslim feelings propel right wing in Europe). Even German Chancellor Angela Merkel has noted the failure in her comment last week multicultural efforts in Germany had “utterly failed” (Merkel says German multicultural society has failed).

Here in the United States the rule-of-law continues to wane as Democrats look to allow non-citizens to vote in elections (Cities Weigh Letting Noncitizens Vote) while liberals attempt to prevent volunteer observers away from polls (Soros group launches attack on poll watchers) and at least 2 separate incidents of voting manipulation have already been reported, including pre-selected choices (Nevada Voters Complain Of Problems At Polls and machines changing selections while finalizing votes (Voter reports problem with ballot machine).

Iranian influence in Afghanistan: President Karzai admitted yesterday his chief of staff had received “bags of money” (Karzai admits receiving 'bags of money' from Iran) while Iran’s Islamic Revolutionary Guard Corps has been training Taliban fighters in Afghanistan to use surface-to-air missiles (Iran training Taliban fighters to use surface-to-air missiles), no surprise after WikiLeaks’ latest release (Will Barack Obama admit extent of Iran's role in Iraq, laid bare by WikiLeaks?).

2010 election: One week to go. Not only did a Rhode Island Democrat shy from President Obama, he told the President he can “take his endorsement and shove it” (Obama assails GOP on clouded final campaign push). Die-hard Democrats; however, appear to be under significant stress as, for example, Joy Behar of The View today slammed Sharron Angle (Harry Reid’s Senate opponent) on-air ('The View': Joy Behar tells Sharron Angle to 'go to hell, bitch').