Headline Report for Nov. 1, 2010

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

    * Financial Crisis

    * Cultural War (between the left and right)

    * Politics

Short-term top news centers on the following EVENTS:

* Final jockeying for election day Nov. 2

Financial Crisis: The dollar hit a 15-year low against the yen, for the third time in the last couple months, Monday (Dollar sinks before 'busiest week in decades'). It also sank against the euro. "Market angst is likely to reach fever pitch this week as we lead up to no less than five central bank meetings, mid-term elections in the US and a non-farm payroll report on Friday,” said Kathleen Brooks, a Forex.com analyst. “A week packed full of so much event risk is a rare thing in the financial markets, and the dollar has started as it left off on Friday—trading with an air of nervousness," she added.

Meanwhile, both Russia and China continue to step up and fill the financial and political shoes of the declining U.S., as Russia allegedly expressed its desire to Turkmenistan to sell their gas anywhere but Europe (Russia’s Message to Turkmenistan: Export Your Gas Anywhere Except Europe). Though Secretary Clinton is there now and President Obama heads there soon for “a whirl of deal-making and diplomacy, from Tokyo to New Delhi,” the U.S. is at a significant disadvantage between a $13 trillion debt and America’s longest war in Afghanistan against China’s $3-plus trillion cash reserves (China’s Fast Rise Leads Neighbors to Join Forces). We suspect the Asian countries will follow in China and North Korea’s footsteps and extract what they can from the U.S. while they still can.

On a national level spending slowed in September to its weakest in three months while income fell for the first time in 14 months (September consumer spending weak while incomes dip). “Personal spending rose at an annual rate of 0.2 percent in September, the Commerce Department said Monday. That's below the 0.5 percent gains recorded in July and August. Incomes fell 0.1 percent in September, following a 0.4 percent rise in August that had been pushed higher by the return of extended unemployment benefits.”

In California an Alameda County Superior Court judge put Gov. Schwarzenegger between a rock and day care Friday by issuing a temporary restraining order to prevent the state from cutting child care for tens of thousands of children of working parents coming off welfare rolls (Court won't let Calif. cut child care funds). The funding would have expired today. “The move comes in the wake of Gov. Arnold Schwarzenegger's veto of $256 million in child care funds before signing the new state budget into law.”

Armed security guards will be placed at unemployment offices around the state as a precaution in advance of the early-December expiration of unemployment benefits for thousands after the 99-week maximum allowed for Federal extensions (Unemployment Offices To Add Armed Guards).

Cultural War: Polls are showing the American public has rejected President Obama's leftist politics, as the tea-party movement has gained momentum and independent voters are breaking hard to support Republicans (Voters abandoning Obama in droves?). “Republicans, however, should be cautious to realize the realignment of voters is at its base a reaction against incumbents as a whole,” said Jerome Corsi in an excerpt from his latest Red Alert report.

John Nolte’s Big Hollywood blog (Brietbart) Saturday had a two-fer, addressing political correctness and radical Islam in discussing Bill Maher’s Friday Real Time interview where he asked “Am I racist to feel alarmed by that?” (Bill Maher: Am I Racist to Feel Alarmed By the Thought of Islam Taking Over the Western World?). It no-doubt follows the story of Juan Williams’ firing by NPR. Has the PC veil regarding Islam been broken in the U.S? Maybe, but we think where it really needs breaking is within Islamic society itself, if only to get Islam to allow introspection.

Politics: Rule-of-law seems to be improving in Russia after almost 2,000 people assembled in Moscow for a rare sanctioned rally in “a nod to the 31st Article of the Russian constitution, which guarantees the right of assembly” (2,000 rally in Moscow, demand freedom of assembly). "Authorities have shown respect for the law for the first time," Sergei Udaltsov, leader of the anti-Kremlin Left Front movement, said as he moved to join Alexeyeva's rally "It's a big victory for the opposition."

WorldNetDaily.com claims a “PA official, as well as security sources in Egypt and Jordan, said they heard from the Obama administration an outline of a series of moves to pressure Israel after the Nov. 2 vote” (Obama 'to turn on Israel after midterm elections'). That Obama will do so is no surprise, the article just provides evidence of Obama’s intent to limit further damage to the Democrats this election. A cynical person would also say it indicates someone in his administration or party thinks they’ll do better than expected in the election, and our recent cites of voter fraud and intimidation might be the basis for that expectation.

Another possible source could be the continued split vote between the Republican and Tea Parties (Next for GOP leaders: Stopping Palin).

Brazil yesterday elected their first female president who has a very interesting past (Ex-guerrilla to be Brazil's first female president): “a former Marxist guerrilla who was tortured and imprisoned during Brazil's long dictatorship.” How she rules could have a major impact on Brazil’s economy and her international business, most notably oil exploration and production.

2010 election: e-VotingBooth.com definitely believes the pen/word is mightier than the sword and agree with House Republican Leader John Boehner’s remarks for a Cincinnati rally with Rob Portman, the GOP nominee for Senate in Ohio, and John Kasich, the GOP nominee for Ohio governor (John Boehner to hit President Obama on 'enemies'): “Ladies and gentlemen, we have a president in the White House who referred to Americans who disagree with him as ‘our enemies.’ Think about that. He actually used that word. When Ronald Reagan, George Bush, Bill Clinton, and George W. Bush used the word ‘enemy,’ they reserved it for global terrorists and foreign dictators — enemies of the United States. Enemies of freedom. Enemies of our country. Today, sadly, we have president who uses the word ‘enemy’ for fellow Americans — fellow citizens. He uses it for people who disagree with his agenda of bigger government — people speaking out for a smaller, more accountable government that respects freedom and allows small businesses to create jobs. Mr. President, there's a word for people who have the audacity to speak up in defense of freedom, the Constitution, and the values of limited government that made our country great. We don't call them ‘enemies.’ We call them ‘patriots.’”

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