New Shrill-

(T)here’s something else in David’s column, which I see a lot: the argument that because a lot of important people believe something, it must make sense:

Are you sure your theorists are right and theirs are wrong?

Yes, I am. It’s called looking at the evidence. I’ve looked hard at the arguments the Pain Caucus is making, the evidence that supposedly supports their case – and there’s no there there.

And you just have to wonder how it’s possible to have lived through the last ten years and still imagine that because a lot of Serious People believe something, you should believe it too. Iraq? Housing bubble? Inflation?

The moral I’ve taken from recent years isn’t Be Humble – it’s Question Authority. And you should too.

Le Tour: Stage 3

NASCAR in the Ardennes!

Well, it appears the major effect of yesterday’s crash fest in the rain is to let Chavanel take a 3 minute lead in Yellow and he is a major contender who could easily use this to put on an early move.

Garmin loses Vande Velde, is the most injured team by far, since the Schlecks don’t seem as badly hurt as early indications.

Most people will be starting bruised and sore.

There’s evidently some controversy about a ‘riders strike’ that resulted in that 3 minute gap.  I don’t think it’s necessarily that big a deal.  Lance is 6th overall and is part of the pack with all the other contenders who settled for the same time.

This happens all the time at the Tour and is generally held to indicate good sportsmanship.

To hear statements like

“They put on a dangerous stage and so when they put it on like that that’s the results they’ll get,” said Horner.

“They got all their drama on the descent and they lost it all at the finish and they got what they deserved.

There?s no place in the Tour de France for a stage like this.”

seems a little strident.

I’m more with Lance on this one- “These hills around here and the Ardennes are legendary, it’s part of cycling. Liege-Bastogne-Liege has been around for a hundred years and they do that on the snow.”

Cobblestone Carnage today.  Seven slippery rutted stages in the sun, not quite so much fun in the damp.

Punting the Pundits: Morning Edition

(9 am. – promoted by ek hornbeck)

Browsing the op-ed pages of the print media  and an open thread to vent. Pour a cup of coffee or brew some tea and contemplate the day.

Paul Krugman came down on Republicans who think they will get elected by punishing the unemployed by blocking Unemployment benefits.

By the heartless, I mean Republicans who have made the cynical calculation that blocking anything President Obama tries to do – including, or perhaps especially, anything that might alleviate the nation’s economic pain – improves their chances in the midterm elections. Don’t pretend to be shocked: you know they’re out there, and make up a large share of the G.O.P. caucus.

By the clueless I mean people like Sharron Angle, the Republican candidate for senator from Nevada, who has repeatedly insisted that the unemployed are deliberately choosing to stay jobless, so that they can keep collecting benefits. A sample remark: “You can make more money on unemployment than you can going down and getting one of those jobs that is an honest job but it doesn’t pay as much. We’ve put in so much entitlement into our government that we really have spoiled our citizenry.”

I’m with Atrios who tweeted that the White House must be listening to David Brooks

The Demand Siders don’t have a good explanation for the past two years. There is no way to know for sure how well the last stimulus worked because we don’t know what would have happened without it. But it is certainly true that the fiscal spigots have been wide open. The U.S. and most other countries have run up huge, historic deficits. And while this has helped save public-sector jobs, we certainly haven’t seen much private-sector job growth. It could be that government spending is a weak lever to counter economic cycles. Maybe monetary policy is the only strong tool we have.

(emphasis mine)

Heh. We also don’t know what would have happened if the stimulus bill had been bigger. David, the fiscal spigots have been barely dripping except for funding two wars. Sheesh

Mitt Romney, the man who hopes to be the Republican savior that saves the country, decrying President Obama’s worst foreign policy mistake

the president’s New Strategic Arms Reduction Treaty (New-START) with Russia  could be his worst foreign policy mistake yet. The treaty as submitted to the Senate should not be ratified.

New-START impedes missile defense, our protection from nuclear-proliferating rogue states such as Iran and North Korea. Its preamble links strategic defense with strategic arsenal. It explicitly forbids the United States from converting intercontinental ballistic missile (ICBM) silos into missile defense sites. And Russia has expressly reserved the right to walk away from the treaty if it believes that the United States has significantly increased its missile defense capability.

Boston Globe columnist H. D. L. Greenway compares the doomed Afghanistan war strategy of Generals Petraeus and McChrytal to the titans Prometheus and Epimetheus

(Like the) mythical Titans, the brothers Prometheus and Epimetheus, much was expected of Generals David Petraeus and Stanley McChrystal. It was hoped they would provide coherent answers to why their country was doing so badly in its never-ending wars in Muslim lands. As Prometheus had stolen fire from the gods, had not Petraeus snatched, if not victory, at least something better than defeat from the anarchy, insurrection, and civil war that was Iraq? Hadn’t Petraeus provided the gift of light at the end of that particular tunnel?

snip

So it is that the gods have punished Petraeus, too, for his new job will find him, like Prometheus, tied to a rock tortured by the pecking birds of Afghan reality. He and Obama can always hope that something will change for the better, of course. Hope was the last thing left in Pandora’s box that didn’t escape.

Crank it up

Cities on Flame

My heart is black, and my lips are cold

Cities on flame with rock and roll

Three thousand guitars they seem to cry

My ears will melt, and then my eyes

Oh, let the girl, let that girl, rock and roll

Cities on flame now, with rock and roll

Gardens of nocturne, forbidden delights

Reins of steel, and it`s alright

Cities on flame, with rock and roll

Marshal will buoy, but Fender control

Let the girl, let that girl rock and roll

Cities on flame now, with rock and roll

My heart is black, and my lips are cold

Cities on flame with rock and roll

Three thousand guitars they seem to cry

My ears will melt, and then my eyes

Let the girl, let that girl rock and roll

Cities on flame now, with rock and roll

Gringo’s Guide To The World Cup, Part 2, With Poll

(10 pm. – promoted by ek hornbeck)

There are two very big games coming up.  They are semi-finals.  That means that the winners meet to decide who takes home the World Cup.  The final final is on July 11, 2010.

The two games that are semi finals:

Tuesday, 2:30 pm EDT Uruguay v. Netherlands

Wednesday, 2:30 pm EDT Germany v. Spain

Join me below for El Prognostico.

The conventional experts pick the Netherlands  to beat Uruguay.  Almost everybody agrees with some caution thrown in.

The experts, including the venerable Marcelo Balboa think Germany will stomp on Spain because Spain’s offense isn’t working (that’s you they’re talking about, Sr. Torres).

There.  Now you know everything you need to know about this. And you have some good data.  Go ahead and vote in the poll (you get three votes in this poll, two, one for each of the the semis, and one for the final).  I assure you you know as much as any of the experts.  Just don’t bet the ranch on the results.

Choose One Lobster to Represent Neil Gorsuch on the All Dog Supreme Court

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Prime Time

Every night, but especially around holidays. it can be difficult to find programming that doesn’t make you want to gouge your eyes out.

No Keith or Rachel.  Letterman and Leno repeats.

Here are some things that look at least marginally interesting to me.

8 pm sharp!  NickSpongebob Squarepants World Premier: “The Clash of Triton”.

9:30 pm ToonTotal Drama World Tour : “Super Crazy Happy Fun Time Japan”.

Later-

Jon and Stephen have original programming.  Jon’s guest is Denis Leary shilling a new season of Rescue Me and it’s likely to be as terrible as his interviews of Denis always are.  Stephen is hosting physicist Michio Kaku.  The 12:30 Futurama is from the new season.

Evening Edition

Evening Edition is an Open Thread

39 Story Final.

From Yahoo News Top Stories

1 Polish liberals hold the reins after presidential victory

by Jonathan Fowler, AFP

15 mins ago

WARSAW (AFP) – Poland’s liberals held all the reins of power Monday after their candidate Bronislaw Komorowski foiled eurosceptic Jaroslaw Kaczynski’s audacious bid to replace his late twin in a presidential election.

Komorowski scored 53.01 percent of votes over 46.99 percent for his conservative rival in Sunday’s run-off, sparked by the April 10 air crash death of president Lech Kaczynski, full official results showed.

Turnout was 55.31 percent, election commission head Stefan Jaworski said.

2 China deploys troops for Xinjiang riot anniversary

by Marianne Barriaux, AFP

Mon Jul 5, 8:44 am ET

URUMQI, China (AFP) – Security forces fanned out to keep China’s Urumqi city in check on Monday, the first anniversary of deadly unrest that laid bare deep-seated ethnic tensions in the far-western Xinjiang region.

Urumqi, the regional capital, erupted in violence on July 5 last year between the mainly Muslim Uighur minority and members of China’s dominant Han ethnic group, fuelled by Uighur resentment over Beijing’s rule of Xinjiang.

In the following days, mobs of angry Han took to the streets looking for revenge in the worst ethnic violence that China had seen in decades. The unrest left nearly 200 dead and 1,700 injured, according to government figures.

3 Turkey threatens ‘to cut ties’ with Israel

AFP

27 mins ago

ANKARA (AFP) – Turkey warned Israel Monday it will cut ties unless it gets an apology for a deadly raid on Gaza-bound aid ships, but the Jewish state said it will never say sorry for defending itself.

Ankara has already closed its airspace to all Israeli military aircraft in reaction to the May 31 bloodshed on a Turkish ship in which nine Turks were killed, Foreign Minister Ahmet Davutoglu told the daily Hurriyet.

The Israelis have three options, Davutoglu said in remarks published Monday.

4 Clinton vows support for Georgia, slams Russian ‘occupation’

by Christophe Schmidt, AFP

33 mins ago

TBILISI (AFP) – US Secretary of State Hillary Clinton reassured Georgia on Monday with a pledge of steadfast support and called on Russia to end its “occupation” of two breakaway Georgian regions.

“The United States is steadfast in its commitment to Georgia’s sovereignty and territorial integrity,” Clinton said at a joint news conference with President Mikheil Saakashvili during a visit to Tbilisi.

Clinton also urged Moscow to abide by a ceasefire agreement that stipulates its forces must return to positions held before the 2008 Georgia-Russia war over the rebel regions of South Ossetia and Abkhazia.

5 BP oil spill costs soar above 3 billion dollars

AFP

46 mins ago

NEW ORLEANS, Louisiana (AFP) – BP’s costs over the Gulf of Mexico oil spill soared Monday above three billion dollars, while a giant Taiwanese ship provided hope of revolutionizing on-sea skimming operations.

“The cost of the response to date amounts to approximately 3.12 billion dollars, including the cost of the spill response, containment, relief well drilling, grants to the Gulf states, claims paid, and federal costs,” BP said.

The latest estimate is far higher than the 2.65 billion dollars given by the energy firm one week ago.

6 Greece on target to tackle deficit

AFP

Mon Jul 5, 12:21 pm ET

ATHENS (AFP) – Debt-stricken Greece claimed dramatic progress Monday in its quest to tackle overspending, with the budget deficit slashed 42 percent and the finance minister raising hopes the economy will do better.

Earlier this year the country was threatened with insolvency, sparking a eurozone debt crisis, but the ruling Socialists said Greece had turned a corner by tightening public finances, increasing tax revenue and improving efficiency.

“Today we are able to see our country’s future with greater optimism. Greece is successfully escaping the reef of economic collapse,” government spokesman George Petalotis told reporters.

7 Chavanel in yellow as Schlecks, Armstrong crash

by Justin Davis, AFP

2 hrs 30 mins ago

SPA, Belgium (AFP) – Frenchman Sylvain Chavanel claimed the leader’s yellow jersey after winning yet another crash-marred stage of the Tour de France Monday as the peloton called a truce in the wet Belgian Ardennes.

Seven-time champion Lance Armstrong and contender Andy Schleck were among a number of high profile victims as steep and slippery descents took a toll on the peloton during the 201km second stage from Brussels.

Saxo Bank leader Schleck fell alongside his brother Frank on the descent of the Stockeu climb, one of two which appear on the Belgian classic Liege-Bastogne-Liege, but they got back up to battle their way back to the peloton.

8 Dutch eye World Cup final, Brazil, Argentina face change

by David Legge, AFP

1 hr 47 mins ago

JOHANNESBURG (AFP) – Netherlands were warned not to under-estimate World Cup semi-final opponents Uruguay on Monday, as South American heavyweights Argentina and Brazil continued to suffer the shockwaves from their elimination.

Dutch duo Wesley Sneijder and Arjen Robben come face to face with Uruguayan star striker Diego Forlan in Tuesday’s first semi-final, while goal kings David Villa of Spain and Miroslav Klose of Germany square off on Wednesday.

Dutch coach Bert van Marwijk has begged his players to keep their feet on the ground and ignore the hype as they carry the tag of firm favourites into a showdown with injury and suspension-hit Uruguay in Cape Town.

9 Lower German deficit an example for Europe: Berlin

AFP

Mon Jul 5, 10:47 am ET

BERLIN (AFP) – Germany’s federal deficit is set to be much lower than expected, a draft budget suggested on Monday, as Berlin holds up its tough line on spending as the best way for Europe to exit its debt crisis.

Helped by an unexpectedly strong economic upturn, the deficit in Europe’s top economy will amount to about 65 billion euros (81 billion dollars) this year compared to a previous estimate of 80 billion euros.

Next year, the deficit will be 57.5 billion euros, nearly 20 billion less than feared, according to figures in the draft budget, obtained by AFP.

10 India rocked by strike over fuel prices

by Giles Hewitt, AFP

Mon Jul 5, 7:59 am ET

NEW DELHI (AFP) – An opposition-led strike over fuel price rises disrupted life across India on Monday, triggering transport mayhem and sporadic violence in major cities where schools and businesses closed down.

Flights were grounded in commercial airline hubs such as Mumbai and Kolkata, while protesters attacked buses, blocked roads with burning tyres and organised sit-down protests on inter-city railway links.

11 Swiss show brings heirs to discuss Picasso, Klee

by Agnes Pedrero, AFP

Mon Jul 5, 5:02 am ET

BERN (AFP) – An exhibition in Switzerland has brought together the genius of modern art contemporaries Pablo Picasso and Paul Klee with an added twist: the first meeting of their two heirs.

Picasso and Klee the elders, among the most influential artists of the 20th century, met only twice.

Once when Klee (1879-1940) was among a group of artists who visited the ebullient Spaniard’s studio in Paris in 1933.

12 BP eyes stake sale as oil spill costs top $3 billion

By Raji Menon and Matthew Bigg, Reuters

Mon Jul 5, 12:42 pm ET

LONDON/NEW ORLEANS (Reuters) – Shareholders in BP balked Monday at reports it would seek a strategic investor to ward off takeover bids, as the clean-up costs of its massive U.S. oil spill topped $3 billion.

As containment efforts continued in the devastated Gulf of Mexico, where a ruptured well has been spewing crude since April 20, tests on a supertanker adapted to skim large quantities of oily water from the surface were inconclusive because of high seas, ship owner TMT Shipping Offshore said.

Over the weekend, while U.S. Independence Day vacationers largely avoided Gulf of Mexico beaches tarred by the leaking well, media reports said BP was looking for a strategic investor among the sovereign wealth funds of the Middle East and Asia.

13 Komorowski wins Polish election with reforms in focus

By Gabriela Baczynska and Patryk Wasilewski, Reuters

58 mins ago

WARSAW (Reuters) – Prime Minister Donald Tusk’s candidate won Poland’s presidential poll but the narrowness of the victory cast doubt on the government’s ability to carry out unpopular reforms ahead of a 2011 parliamentary election.

Bronislaw Komorowski, a moderate conservative from Tusk’s Civic Platform party (PO), won 53.0 percent of votes in Sunday’s poll, final official results showed, after a cliff-hanger vote that saw his right-wing rival Jaroslaw Kaczynski perform much better than expected.

Turnout was 55.3 percent, higher than in a first round on June 20, despite the start of the summer vacation period.

14 Tests on Gulf oil "superskimmer" inconclusive: ship owner

By Matthew Bigg, Reuters

2 hrs 10 mins ago

NEW ORLEANS (Reuters) – Tests on a supertanker adapted to skim large quantities of oily water from the surface of the Gulf of Mexico are inconclusive because of high seas, ship owner TMT Shipping Offshore said on Monday.

Tests on the so-called “super skimmer” conducted just north of the blown out BP Plc well were supposed to be completed on Monday but have been extended because of the weather, said spokesman Bob Grantham.

“After an initial 48-hour testing period results remain inconclusive in light of the rough sea state we are encountering,” Grantham said.

15 Clinton concerned over Russian bases in Georgia region

By Arshad Mohammed, Reuters

57 mins ago

TBILISI (Reuters) – U.S. Secretary of State Hillary Clinton voiced concern over Russian plans to build up military bases in Georgian rebel regions and called on Moscow to end its “occupation” of Georgian territory two years after a war.

Russian Prime Minister Vladimir Putin fired back, saying some people believe Moscow’s forces liberated Georgia’s breakaway South Ossetia region in the August 2008 war, rather than occupying it, Russian news agencies reported.

In Georgia on a tour to assure Russia’s neighbors that President Barack Obama’s “reset” with the Kremlin will not harm them, Clinton said Washington is still pressing Moscow to loosen its grip on South Ossetia and another rebel region, Abkhazia.

16 Pakistan renews call for dialogue with some Taliban

By Kamran Haider, Reuters

2 hrs 32 mins ago

ISLAMABAD (Reuters) – Pakistan’s government, under fresh pressure to deliver stability after suicide bombers killed dozens last week, renewed its call on Monday for talks with Taliban militants ready to renounce violence.

At least 42 people were killed and 175 wounded when two suicide bombers struck Pakistan’s most important Sufi shrine on Thursday night, the second major attack in a month on Pakistan’s cultural hub and traditional seat of power Punjab province.

Speaking after a special high level meeting on law and order, Information Minister Qamar Zaman Kaira said the government would welcome negotiations under the right conditions.

17 China convicts U.S. geologist of stealing state secrets

By Lucy Hornby, Reuters

Mon Jul 5, 10:35 am ET

BEIJING (Reuters) – A geologist accused of stealing state secrets after he brokered the sale of an oil database has been sentenced to eight years in jail, the U.S. embassy said on Monday, over two-and-one-half years after he was detained.

Geologist Xue Feng, a 44-year-old U.S. citizen born in China, was detained late in 2007 after negotiating the sale of an oil industry database to his employer at the time, Colorado-based consultancy IHS Energy, now known as IHS Inc.

Xue was convicted of attempting to obtain and traffic in state secrets, a year after his trial ended, said the Duihua Foundation, which advocates for prisoners’ rights in China and the United States. The database was classified as a state secret only after it was sold, it added.

18 Restive Iraq provinces defy U.S. withdrawal timeline

By Matt Robinson, Reuters

Mon Jul 5, 3:48 am ET

JALAWLA, Iraq (Reuters) – It was a tip-off about a weapons cache that drew the U.S. soldiers of Charlie Troop away from their Stryker armored vehicles in the densely populated Iraqi town of Jalawla one Friday morning last month.

That was when the suicide bomber struck, detonating a car bomb so “catastrophic” that details of the attack that killed Sergeant Israel O’Bryan and Specialist William Yauch are still hazy, their commanding officer said.

One thing was clear: the insurgency in Jalawla won’t lie down.

19 Tar balls from Gulf oil spill turn up in Texas

By JUAN A. LOZANO, Associated Press Writers

1 min ago

GALVESTON, Texas – A top Texas official said Monday that tar balls from the Gulf oil spill have been found on state beaches, marking the first known evidence that gushing crude from the Deepwater Horizon well has now reached all the Gulf states.

Land Commissioner Jerry Patterson said two crews were removing tar balls found on the Bolivar Peninsula and Galveston Island on Sunday.

“We’ve said since day one that if and when we have an impact from Deepwater Horizon, it would be in the form of tarballs,” Patterson said in a news release. “This shows that our modeling is accurate. Any Texas shores impacted by the Deepwater spill will be cleaned up quickly and BP will be picking up the tab.”

20 Health overhaul first provisions start to kick in

By RICARDO ALONSO-ZALDIVAR, Associated Press Writer

1 hr 44 mins ago

WASHINGTON – The first stage of President Barack Obama’s health care overhaul is expected to provide coverage to about 1 million uninsured Americans by next year, according to government estimates.

That’s a small share of the uninsured, but in a shaky economy, experts say it’s notable.

Many others – more than 100 million people – are getting new benefits that improve their existing coverage.

21 Dutch agency admits mistake in UN climate report

By ARTHUR MAX, Associated Press Writer

1 hr 12 mins ago

THE HAGUE, Netherlands – A leading Dutch environmental agency, taking the blame for one of the glaring errors that undermined the credibility of a seminal U.N. report on climate change, said Monday it has discovered more small mistakes and urged the panel to be more careful.

But the review by the Netherlands Environmental Assessment Agency claimed that none of the errors effected the fundamental conclusion by U.N. panel of scientists: that global warming caused by humans already is happening and is threatening the lives and well-being of millions of people.

Mistakes discovered in the 3,000-page report by the Intergovernmental Panel on Climate Change last year fed into an atmosphere of skepticism over the reliability of climate scientists who have been warning for many years that human-induced emissions of greenhouse gases could have catastrophic consequences, including rising sea levels, drought and the extinction of nearly one-third of the Earth’s species.

22 Komorowski win strengthens Polish government

By VANESSA GERA, Associated Press Writer

Mon Jul 5, 2:23 pm ET

WARSAW, Poland – Poland chose a rival of the late president over his twin brother in a vote seen as a move away from three months of shock, grief and mourning that followed the death of Lech Kaczynski in a plane crash.

Bronislaw Komorowski was declared the winner Monday, meaning his governing pro-business Civic Platform party now has a year of control of both government and the presidency before the next parliamentary elections.

It represents a chance for them to fulfill promises to dismantle some remnants of the old communist-era welfare state. They have pledged to attack privileges ranging from permanent sick leave to low taxes for rich farmers in an attempt to prevent the European debt crisis from spreading to Poland.

23 Clinton criticizes Russia for occupying Georgia

By ROBERT BURNS, AP National Security Writer

45 mins ago

TBILISI, Georgia – U.S. Secretary of State Hillary Rodham Clinton rebuked Russia on Monday for failing to live up to the cease-fire agreement it signed nearly two years ago to end the fighting in this small former Soviet state.

She asserted that Russia is occupying parts of Georgia and building permanent military bases in contravention of the truce.

“We’re calling on the Russians to enforce the agreement they signed,” she told a news conference with Georgian President Mikhail Saakashvili at her side. She said that includes pulling its troops back to the positions they held before the invasion.

24 Chinese court sentences US geologist to 8 years

By CHARLES HUTZLER, Associated Press Writer

Mon Jul 5, 1:26 pm ET

BEIJING – An American geologist held by Chinese state security agents who stubbed lit cigarettes on his arms was sentenced to eight years in prison Monday for gathering data on China’s oil industry – a case that highlights the government’s use of vague secrets laws to restrict business information.

In pronouncing Xue Feng guilty of spying and collecting state secrets, the Beijing No. 1 Intermediate People’s Court said his actions “endangered our country’s national security.”

Its verdict said Xue received documents on geological conditions of onshore oil wells and a database that gave the coordinates of more than 30,000 oil and gas wells belonging to China National Petroleum Corporation and listed subsidiary PetroChina Ltd. That information, it said, was sold to IHS Energy, the U.S. consultancy Xue worked for and now known as IHS Inc.

25 Cost of the queen: less than $1 per person a year

By JILL LAWLESS, Associated Press Writer

1 hr 7 mins ago

LONDON – Like millions of her subjects, Queen Elizabeth II is going to have to make do and mend – cutting spending and putting off palace repairs as royal finances are squeezed by Britain’s budget crisis.

Accounts published Monday by Buckingham Palace reveal the total public cost of supporting the monarchy was 38.2 million pounds ($57.8 million) in the year to March 31, the equivalent of 62 pence (94 cents) per person. The total is more than 3 million pounds less than in 2008-2009.

Britain’s public sector is facing cuts as the government tries to eliminate a record deficit, and Alan Reid, Keeper of the Privy Purse, said the royal household “is acutely aware of the difficult economic climate” and will be cutting costs and putting off essential maintenance.

26 Study: Some voters may make end run around logic

By RANDOLPH E. SCHMID, Associated Press Writer

1 hr 31 mins ago

WASHINGTON – Science is confirming something successful politicians seem to know instinctively – support your local football team.

The success of major college teams in the two weeks before an election can have a measurable impact on how well incumbent politicians do at the polls, researchers report in Tuesday’s edition of Proceedings of the National Academy of Sciences.

“Events that government had nothing to do with, but that affect voters’ sense of well-being, can affect the decisions that they make on election day,” the researchers said.

27 Eating champ leaves NY jail after hot dog fracas

By EVA DOU, Associated Press Writer

Mon Jul 5, 2:25 pm ET

NEW YORK – Japanese eating champion Takeru Kobayashi, arrested at a July Fourth hot dog-eating contest, was freed Monday after a night in jail, looking a little weary and saying he was hungry.

Kobayashi, wearing a black T-shirt bearing the message “Free Kobi” in green letters, was freed by a Brooklyn judge after he pleaded not guilty. The slim, boyish 32-year-old said he consumed only a sandwich and some milk in jail.

A contract dispute had kept Kobayashi out of Sunday’s annual Nathan’s Famous International Hot Dog Eating Contest, but he showed up anyway.

28 Crash halts horses’ rampage at Iowa July 4 parade

By TODD RICHMOND, Associated Press Writer

Mon Jul 5, 1:03 pm ET

BELLEVUE, Iowa – A pair of runaway horses in harness crashed into a Fourth of July parade float and collapsed, ending a rampage that injured nearly two dozen people and killed one, people at the parade said Monday.

Tammy Muller, 43, a bartender who works downtown, said she was watching the parade at an intersection when she heard screaming. She said she looked up, saw the horses and yelled, “back up!”

The frenzied animals sped past her and were heading for a large crowd including children who had gathered to pick up candy, when they crashed into the Maquoketa State Bank’s float as it turned at the intersection.

29 NBA’s free agent fireworks could come next week

By BRIAN MAHONEY, AP Basketball Writer

Mon Jul 5, 11:47 am ET

NEW YORK – From Cleveland to Chicago, South Florida to the New York area, it was a mostly quiet Fourth of July in the NBA.

The real fireworks will apparently start this week.

With LeBron James and other big names taking time to ponder their futures, the free-agent market was in many ways on hold for the holiday – though Joe Johnson did agree to a maximum contract to stay in Atlanta.

30 Armstrong joins spills in Tour’s 2nd stage

By JAMEY KEATEN, Associated Press Writer

5 mins ago

SPA, Belgium – On a day of chaos and crashes, riders tumbled like dominoes in the rain and littered the road in a scene Lance Armstrong called “surreal.”

The seven-time champion did not escape the mayhem at the Tour de France on Monday. He was left searching for his bike, nursing scrapes and bruises to his hip and elbow and joking about the decision to come out of retirement.

He was in good company, joining dozens of riders who hit the asphalt on a slippery downhill run some likened to ice skating.

31 Derided no more, suburban life is turning serious

By ALAN SCHER ZAGIER, Associated Press Writer

Mon Jul 5, 2:13 pm ET

SHAWNEE, Kan. – The numbingly similar tract homes, endless strip malls and multiple minivans filled with youth soccer players indelibly mark this former Indian mission territory as a Kansas City suburb.

Look deeper, and a more nuanced portrait of Johnson County, Kansas emerges: an economic powerhouse that has eclipsed its big-city neighbor in political influence. An educated community with a vibrant arts scene. And a cultural melting pot where Brazilian grocers and Vietnamese nail salons blend in with the Walmarts and Burger Kings.

Suburban America has been the butt of jokes and stereotypes for decades. The portrayal persists in Hollywood, which continues to zing the ‘burbs with over-the-top tales of conniving, desperate housewives and wayward soccer moms in bed with Mexican drug lords.

32 Fireworks follow sun-scorched July 4 festivals

By MARC BEJA, Associated Press Writer

Mon Jul 5, 4:58 am ET

NEW YORK – The nation’s largest fireworks show lit up the sky in a burst of red, white and blue over the Hudson River straddling New York and New Jersey on Sunday, a scene that was repeated in hundreds of communities in a sizzling end to a scorching day for much of the U.S.

“It’s amazing on TV,” said Marcos Jimenez, a golf caddie who joined thousands of others lining the riverfront for a prime view of the show. “I figured seeing it live would be even better.”

Budget cuts forced some communities to pull the plug on the pyrotechnics, but the gigantic Macy’s fireworks show went on as planned on Manhattan’s West Side, where it moved in 2009 after eight years on the East River.

33 McCain: Kandahar is key to victory in Afghan war

By DEB RIECHMANN, Associated Press Writer

Mon Jul 5, 12:48 pm ET

KABUL, Afghanistan – The ranking Republican on the U.S. Senate Armed Services Committee said Monday that NATO and Afghan troops will prevail in the war if they can succeed in securing and bolstering governance in the Taliban stronghold of Kandahar.

Sen. John McCain, who visited Afghanistan’s largest city in the south on Monday with two other U.S. lawmakers, warned of tough fighting ahead and predicted that casualties would rise in the short-term.

“The Taliban know that Kandahar is the key to success or failure,” McCain told a news conference at the airport in Kabul. “So what happens in this operation will have a great effect on the outcome of this conflict. But I am convinced we can succeed and will succeed, and Kandahar is obviously the key area. And if succeed there, we will succeed in the rest of this struggle.”

34 Mont. delegation pushes EPA on asbestos cleanup

By MATTHEW BROWN, Associated Press Writer

36 mins ago

BILLINGS, Mont. – Montana’s congressional delegation is seeking assurances from the U.S. Environmental Protection Agency that the government will not leave the asbestos-contaminated town of Libby before its cleanup is complete.

Health workers say at least 400 people have died in rural Libby from contamination caused by a now-closed W.R. Grace vermiculite mine.

The EPA in May finalized its cleanup strategy for the first two of eight contaminated areas, including a town park. Some Libby residents and local elected leaders fear the EPA is rushing to finish its work, leaving the town at risk.

35 Wildlife agency predicted low risk from oil spills

By MICHAEL KUNZELMAN, Associated Press Writer

58 mins ago

NEW ORLEANS – Less than three years before the Gulf oil spill erupted, federal regulators concluded several offshore drilling projects posed a low risk to endangered wildlife – a determination that contrasts sharply with recent scenes of birds struggling to survive the slick.

A September 2007 memo from the U.S. Fish and Wildlife Service said large oil spills from the proposed Gulf drilling projects under review were “low-probability events” that weren’t likely to affect brown pelicans, sea turtles and other animals with Gulf Coast habitats.

The memo suggests that the former Mineral Management Service wasn’t the only federal agency that failed to identify and attempt to minimize the risks of deepwater drilling.

36 Census worker taken to court for trespassing

By MARK NIESSE, Associated Press Writer

Mon Jul 5, 3:17 pm ET

HONOLULU – In these divisive times, Census worker Russell Haas has come to expect some resistance when he goes door to door to count the residents of the rugged communities near Hawaii’s Kilauea volcano. He didn’t expect to get arrested.

An attempt to get one resident, a county police officer, to fill out Census forms landed Haas in the back of a patrol car with a trespassing charge.

The case is now in federal court, the latest example of disputes this year between Census workers and residents who don’t want to deal with them. It has created a rare instance in which federal prosecutors have stepped in to serve as criminal defense attorneys.

37 Tug company involved in Mississippi crash charged

By CAIN BURDEAU, Associated Press Writer

Fri Jul 2, 6:29 pm ET

NEW ORLEANS – A company whose towboat was involved in a crash with a tanker that caused a major oil spill on the Mississippi River two years ago has been accused of operating vessels with unqualified and overworked captains, federal prosecutors said Friday.

DRD Towing Co. was charged with breaking maritime safety and environmental laws, prosecutors said. Also, one of its owners, Randall Dantin, was charged with obstruction of justice for allegedly deleting electronic payroll records the Coast Guard needed to investigate the accident.

On July 23, 2008, the towboat Mel Oliver collided with the tanker Tintomara. A Coast Guard investigation revealed John Paul Bavaret II, a sleep-deprived apprentice mate without a captain at his side, was at the tug’s helm, a violation of Coast Guard rules.

38 Army drops ‘psy ops’ name for influence operations

By KEVIN MAURER, Associated Press Writer

Fri Jul 2, 5:54 pm ET

WILMINGTON, N.C. – The Army has dropped the Vietnam-era name “psychological operations” for its branch in charge of trying to change minds behind enemy lines, acknowledging the term can sound ominous.

The Defense Department picked a more neutral moniker: “Military Information Support Operations,” or MISO.

U.S. Special Operations Command spokesman Ken McGraw said Thursday the new name, adopted last month, more accurately reflects the unit’s job of producing leaflets, radio broadcasts and loudspeaker messages to influence enemy soldiers and civilians.

39 BP oil spill: A subdued Fourth of July on Louisiana’s Grand Isle

By Bill Sasser, The Christian Science Monitor

9:36 am ET

Grand Isle, La. – Along state Highway 1 on Grand Isle, La., a flagpole in one yard is flying the Stars and Stripes at half staff and upside down. The Bridge Side Marina has canceled its annual Fourth of July fireworks display. The marina owners say they’re worried that the pyrotechnics could ignite oil floating in nearby Caminada Bay.

On the holiday weekend during what should be the height of Grand Isle’s summer season, life on the island has been turned upside down.

BP spill-response workers and National Guard soldiers have taken over the campgrounds, motels, and restaurants that would normally throng with summertime visitors. The beaches are vacant except for empty picnic tables, thousands of yards of neon-orange solid boom, and workers in hazmat suits cleaning up oil from the blown BP oil well 50 miles offshore. The oil company has taken over the town’s community center, where its representatives meet with local fishermen and business owners to discuss claims.

It’s Not Torture

(2 pm. – promoted by ek hornbeck)

 The Associated Press owes China an apology according to Glen Greenwald this morning, that is if the press continues to follow the Bush regime’s definition of what constitutes “torture”.

China sentenced an American geologist, Xue Feng, to  eight years in prison for spying and collecting state secrets. During his detention, Feng was tortured as the article points out by

stubbing lit cigarettes into his arms in the early days of his detention.

But, but…according to John Yoo of torture memo fame:

Physical pain amounting to torture must be equivalent in intensity to the pain accompanying serious physical injury, such as organ failure, impairment of bodily function, or even death. For purely mental pain or suffering to amount to torture (under U.S. law), it must result in significant psychological harm of significant duration, e.g., lasting for months or even years.

(emphasis mine)

So why, as per Glen, does the AP owe China an apology? Heh. Hypocrisy, thy name is the “Press”.  

 The last few days there has been some controversy over statements by The NY Times Executive Editor, Bill Keller, eschewing the use of the word “torture to describe techniques such as waterboarding so as not to appear to be “taking sides”. Mr. Keller’s statement was in response to a Harvard study pointing out that newspapers had stopped calling certain techniques “torture” at the request of the Bush administration even though they had been labeled such for over 100 years.

But it has been pointed out that is what the press and the NYT’s did by acquiescing to the Bush request and using euphemistic labels such as “enhanced interrogation techniques”. The Keller was thoroughly chastised for tis lame excuse by Andrew Sullivan, Greg Sargent and Adam Serwer for this false argument.

The Chinese government repeatedly denounced and denied using torture:

During the U.N. review of China’s human rights record on Monday (Feb. 9), Chinese delegate Song Hansong of the Supreme People’s Procuratorate said that use of torture to obtain evidence was a criminal offense and that China had “established a comprehensive safeguard measure against torture in all our prisons and detention facilities.”

   “China is firmly against torture and would never allow torture to be used on ethnic groups, religious believers or other groups,” Song said.  

Greenwald concludes that AP owes China an apology

Given the standards of Good Journalism prevailing in the U.S. media, as taught to us just this weekend by high-level executives at the NYT and The Washington Post (and previously at NPR):  what right does AP have to “take sides” in this dispute by substituting its own judgment about “torture” for the Chinese Government’s?  Beyond that, given that the U.S. Government has officially adopted a definition of “torture” that plainly does not include a few cigarette stubs on an arm, shouldn’t that preclude any Good Journalist from using the term in this subjective and biased way?  I hope AP will be apologizing to the Chinese shortly for its act of journalistic irresponsibility.  It’s not the role of journalists to take sides

Iraq War Ended But Nobody Told You

(noon. – promoted by ek hornbeck)

According to a New York Times Special Edition almost two full f’ing years ago, and while you weren’t looking because you were distracted by the dazzling light of the 2008 Presidential election campaign, both the Iraq and Afghanistan wars had been finally brought to an end shortly after the November 2008 Presidential Election and before Barack Obama was inaugurated in January 2009, and all US troops in both countries returned home immediately.

Across the country and around the world thousands took to the streets to celebrate the culmination of years of progressive pressuring of the Bush administration and Congress, but the rest of the media and most blogs never reported this because they were too busy shining you.

Secretary of State Condoleeza Rice has publicly apologized to the country and the world on behalf of the Bush administration and admitted that the administration simply lied through it’s teeth to justify the initial invasion, that she and Mr. Bush had known well before the invasion that Saddam Hussein lacked weapons of mass destruction, and that the hundreds of thousands of US Troops in the country in fact never did face instant obliteration.

“It was all complete and utter bullsh*t” Rice said tearfully, as she begged a weary nation for forgiveness, while she was led away in handcuffs by four burly officers.

George W. Bush, the 43rd President of the United States, was indicted on charges of high treason, took it like a man, and didn’t even stamp his foot, or curl his lip.

In other news that you were never told about at the time because all the big blogs were busy blowing smoke up your ass to generate the massive advertising revenue that has always been their real raison d’etre, the controversial USA PATRIOT Act was repealed by Congress by a vote of 99-1 in the Senate and 520 to 18 in the House, Congress voted to nationalize the entire oil industry and place ExxonMobil, ChevronTexaco, British Petroleum, and other major oil companies under public stewardship to fund addressing climate change worldwide.

A bill to eliminate tuition at public universities is making its way through Congress and is expected to pass within days.

The United States National Health Insurance Act was signed into law by President Bush within days of the 2008 election to undercut incoming President-elect Obama, leaving him with nothing to do for the next four years except find a way to bail out the insurance industry with a con job called Health Care Reform that most people simply ate and swallowed hook line and sinker.

Without even chewing on it.

Wal-Mart is also being evicted from all low income neighborhoods throughout the nation, and an editorial in the paper today asserts that “lobbyists” are “people”, too. More study is planned to confirm that however, as the paper has been able to find no one who will believe it. However.

The nation will turn it’s efforts now to an Apollo Program scale effort to build a sane economy.

Federal Reserve Chairman Ben Bernanke has announced that he will land on the moon before this decade is over. That only gives him a few months, by the way. Rahm Emanuel has not offered to return him safely to earth.

Joe Biden has been reported to be missing in action. Nobody’s heard from him in months. Henry Paulsen was found this morning floating face down in the east river, just in case there’s ever a real investigation into the wall street bailout socialism.

Also.

Barack Obama has never said a word about all this. He’s moving forward. Looking back is grounds for instantly getting the boot from his administration. Remember what happened to whatzizname? Yeah, him. Van somebody…

I swear it’s all true.

Pelosi Funded the War Escalation Thursday Night. I mean really. Seriously. Democrats Forced to Cheat to Fund War.

Apparently there is some right wing nut named Paul somebody who is opposed to these so-called wars.

He obviously is not only crazy, but just doesn’t know what’s good for him, since the Pentagon’s budget is higher than than all state governments combined spend for the health, education, welfare, and safety of 308 million Americans, and is at least $880 billion – more than all the state governments collect in taxes.

Which must be a good thing, since the way things are going otherwise with the rest of the so-called economy people all over the country are going to be needing good jobs, so it’s good that the socialist government has no hesitation in stepping up to the plate to take care of them.

Another year of this kind of strong leadership and we should be declaring mission accomplished…

Monday Business Edition

This is the first installment of what I hope is going to be a regular Monday feature.

I always find it instructive to keep track of the money since I think it explains a lot about politics.

There are 2 major interrelated economic stories moving in the background.  One is the question of stimulus and the recovery of the ‘Main Street’ economy and the other is the question of deficit reduction and austerity particularly related to Social Security.

What relates these 2 stories is the abandonment by modern economists of Keynesianism.  If you haven’t already, you should really read Krugman’s How Did Economists Get It So Wrong? from September of 2009 where he describes the irrational theories of the two main trends of academic economics, the salt and freshwater schools.

To me ignoring the proven facts of Keynesian Economics makes about as much sense as a biologist rejecting the ‘Theory’ of Evolution and Genetics.  I suppose it’s possible to do good and rigorously academically grounded work but you’re really rejecting everything that makes your ‘science’ umm… ‘scientific’, which is to say predictive of measurable future results.

Just because your second derivative (in the calculus sense) quant guy can give you a value for the change in the slope of a curve doesn’t make it anything but mathematical masturbation unless your model bears some relation to reality.

Anyway, below you will find some stories I’ve collected from the Business section of Yahoo News.  Just because some of these guys are rich doesn’t mean any of them are smart.

Monday Business Edition is an Open Thread

From Yahoo News Business

1 India rocked by strike over fuel prices

by Giles Hewitt, AFP

1 hr 14 mins ago

NEW DELHI (AFP) – An opposition-led strike over fuel price rises disrupted life across India on Monday, triggering transport mayhem and sporadic violence in major cities where schools and businesses closed down.

Flights were grounded in commercial airline hubs such as Mumbai and Kolkata, while protesters attacked buses, blocked roads with burning tyres and organised sit-down protests on inter-city railway links.

Police were out in force to prevent any large-scale unrest during the day-long strike called by the main opposition Bharatiya Janata Party (BJP) and leftist parties in a show of strength against the Congress-led government’s reform programme.

2 Shanghai composite index hits 15-month low

by Nick Coleman, AFP

1 hr 49 mins ago

HONG KONG (AFP) – Asia-Pacific stock markets were mixed on Monday with caution prevailing during the US holiday against a background of continued global economic worries, while Shanghai hit a 15-month low.

Japanese shares edged 0.69 percent higher on bargain hunting but many investors stayed on the sidelines as US markets were closed for the Independence Day holiday.

The headline Nikkei index, which hit a seven-month low on Thursday, gained 63.07 points to close at 9,266.78. The Topix index of first-section shares added 0.71 percent.

3 Newspapers look for ways to profit in Internet age

by Michelle Fitzpatrick, AFP

Sat Jul 3, 7:36 am ET

LONDON (AFP) – Newspapers worldwide are being forced to reinvent themselves for the Internet age — and will be watching closely the success of two experiments launched in London, analysts say.

Suffering a long-term fall in sales and a collapse in advertising revenue as the world goes online for its news, the press has for years been scrambling to decide how to respond.

In Britain, Rupert Murdoch’s Times and Sunday Times finally went ahead from Friday with their long-promised plan to start charging readers for online access to their journalism, the first non-specialist papers to do so here.

4 German car sales plunge in June, exports climb

by Aurelia End, AFP

Fri Jul 2, 8:52 am ET

BERLIN (AFP) – German car sales plunged last month, reflecting an end to a cash-for-clunkers bonus, but robust foreign demand for Germany’s famed luxury models sparked a spurt in exports.

Matthias Wissman, head of the VDA auto association, said the federation foresaw a “normalisation” in the auto industry this year in the aftermath of car-scrapping premiums in many parts of the world.

He also pointed to solid performance expected on Asian markets.

5 Global stocks down for 4th day

By Dominic Lau, Reuters

2 hrs 33 mins ago

LONDON (Reuters) – World stock prices fell for the fourth day running on Monday and the dollar traded close to two-month lows on growing concerns of slowdowns in the United States and China — the two main pillars of global growth.

Trading was expected to be light on Monday because of the U.S. Independence Day holiday.

Data showing the U.S. labor market shrank for the first time this year in June, slower Chinese manufacturing activity and euro zone austerity measures fueled concerns over prospects for the global economy.

6 Bulls on the run in shortened week

By Ryan Vlastelica and Angela Moon Ryan, Reuters

Sun Jul 4, 11:19 am ET

NEW YORK (Reuters) – Bearish bets in the equity options market, coupled with an increasingly sour view from a technical perspective, suggest stocks will struggle to break from a vicious two-month downtrend this week.

With few catalysts on tap, it could be difficult for investors to find a reason to buy even as recent declines and a jobs report that did not confirm investors’ worst fears present the opportunity for a short-term boost.

U.S. markets will be closed on Monday for Independence Day, and the holiday is expected to depress volume during the week, making equities more vulnerable to large swings following the worst week for the S&P 500 in two months.

7 BP eyes stake sale as spill cost tops $3 billion

By Raji Menon and Eman Goma, Reuters

2 hrs 23 mins ago

LONDON/KUWAIT (Reuters) – Shareholders in British oil company BP balked at reports it would seek urgent investment from a wealthy Middle East or Asian country as clean-up costs for its U.S. oil spill topped $3 billion.

Over the weekend, while U.S. Independence Day holidaymakers shunned Gulf of Mexico beaches tarred by the leaking well, media reports said BP was looking for a strategic investor among the sovereign wealth funds of the Middle East and Asia.

An investor would help ward off a takeover and raise funds for the liabilities racking up behind the worst oil spill in U.S. history, the reports said.

8 Emerging market M&A gains share on West

By Michael Flaherty and Denny Thomas, Reuters

59 mins ago

SINGAPORE (Reuters) – A burst of corporate acquisition activity in Asia shows that executives throughout the region are gaining confidence in their financial outlook and expansion strategy, with cross-border deals on the upswing.

Asia Pacific M&A, excluding Japan, rose 78 percent last quarter, according to Thomson Reuters, with emerging market acquisitions now one-third of total deal volume.

While the largest transactions still mainly originate in the United States and Europe, a slew of recent deals have come from places like China, the Middle East, and Southeast Asia.

9 Loan growth seen as key test for Gulf banks’ revival

By Rachna Uppal, Reuters

29 mins ago

DUBAI (Reuters) – Investors are looking for signs of renewed lending growth from upcoming Gulf Arab bank results, where provisions for bad and doubtful debt will continue to weigh on second quarter profits.

“NPLs will probably dominate the headline but we think attention should be put on loan book growth,” said Daniel Broby, chief investment officer at Silk Invest fund.

“Outside of Dubai, we are expecting signs of loan growth right across the rest of region.”

10 Bank of China: New funding to suffice for 3 years

By Doug Young, Reuters

Mon Jul 5, 5:15 am ET

HONG KONG (Reuters) – Bank of China (3988.HK) (601988.SS) said its bid to raise up to $8.9 billion should give it enough capital for the next three years, seeking to assure markets its second major fund-raising this year will mend its stretched balance sheet for the foreseeable future.

Bank of China’s move caught many off guard in part because it comes just as Agricultural Bank of China (ABC.UL), the nation’s No.3 lender, is preparing to launch an IPO in Shanghai and Hong Kong, expected to raise $20 billion or more later this week.

Most of China’s top banks have announced plans to tap capital markets — aiming to raise more than $70 billion combined — to replenish their capital levels that were depleted after the record, government-directed lending of last year and to meet tighter capital adequacy ratios demanded by regulators.

11 World Cup fever fuels German growth hopes

By Erik Kirschbaum, Reuters

1 hr 18 mins ago

BERLIN (Reuters) – Germany’s strong run in the World Cup may be the catalyst for a growth spurt by Europe’s largest economy, as consumers riding the “feelgood factor” of national success dip in to their savings and start spending again.

Worries over the Greek debt crisis, financial market turbulence, government cutbacks and turmoil in Chancellor Angela Merkel’s center-right coalition have combined to keep a lid on domestic demand, capping official growth forecasts for 2010 at a modest 1.4 percent of GDP.

Analysts already believe that figure is too low, and some now see a further boost of between one and three tenths of a percentage point from Germany’s progress to Wednesday’s semi final, coinciding as it does with a labor market upturn and low inflation.

12 Central bankers shoulder bigger burden

By Emily Kaiser, Reuters

Sun Jul 4, 3:01 pm ET

WASHINGTON (Reuters) – Central banks may be the only remaining line of defense against a scary-but-remote double-dip recession threat.

The European Central Bank and the Bank of England both hold policy-setting meetings on Thursday that are likely to yield no changes in already record-low interest rates.

“I suspect (ECB President Jean-Claude) Trichet would like next week’s meeting to be one of the more unexciting meetings,” David Scammell, head of UK and European interest rate strategies at Schroders, said on Reuters Insider.

13 Chinese court sentences US geologist to 8 years

By CHARLES HUTZLER, Associated Press Writer

1 hr 16 mins ago

BEIJING – An American geologist held and tortured by China’s state security agents was sentenced to eight years in prison Monday for gathering data on the Chinese oil industry in a case that highlights the government’s use of vague secrets laws to restrict business information.

In pronouncing Xue Feng guilty of spying and collecting state secrets, the Beijing No. 1 Intermediate People’s Court said his actions “endangered our country’s national security.”

Its verdict said Xue received documents on geological conditions of onshore oil wells and a data base that gave the coordinates of more than 30,000 oil and gas wells belonging to China National Petroleum Corporation and listed subsidiary PetroChina Ltd. That information, it said, was sold to IHS Energy, the U.S. consultancy Xue worked for and now known as IHS Inc.

14 World stocks steady amid worries over US recovery

By CARLO PIOVANO, Associated Press Writer

1 hr 37 mins ago

LONDON – World stocks were steady Monday amid worries that the economic recovery in the U.S. will slow down, with trading light as Wall Street was due to remain closed for the Independence Day long weekend.

A disappointing jobs report from the U.S. on Friday suggested the world’s largest economy is stuttering, while other figures indicate China – which booked good growth during the recent years of financial and economic turmoil – could also slow down.

European markets found some support in a report showing retail sales in the region rose modestly in May.

15 NY Rep. Rangel stumbles after reaching top

By LARRY MARGASAK, Associated Press Writer

1 hr 5 mins ago

WASHINGTON – Just about everyone likes Charlie Rangel.

Republicans pump his hand, Democrats put their arms around his shoulders and women of all political persuasions give him pecks on the cheek.

Spend some time with the 80-year-old congressman from New York City who’s been striding the Capitol’s halls for four decades on behalf of residents of Harlem, and there’s little evidence he’s become someone to avoid because of an ethics cloud that’s more likely than not going to darken in days to come.

16 Farmers find opportunity in immigrant vegetables

By STEPHEN SINGER, Associated Press Writer

Mon Jul 5, 3:29 am ET

SOUTH DEERFIELD, Mass. – Maxixe, a Brazilian relative of the cucumber, is relatively unknown in the U.S., but it may one day be as common as cilantro as farmers and consumers embrace more so-called ethnic vegetables.

Agriculture experts at the University of Massachusetts at Amherst and elsewhere are teaching farmers to grow non-native vegetables that appeal to a growing market of African, Asian and Latin American immigrants. These immigrants and their children already account for more than one-third of produce sales in supermarkets, said Frank Mangan, a plant and soil sciences professor at UMass. And as other customers become more familiar with ethnic foods, experts expect sales to grow even more.

The number of Massachusetts farmers markets that carry ethnic vegetables jumped by 25 percent in a year, to 202 last year, said Scott Soares, commissioner of the state’s Department of Agricultural Resources.

17 Tech firms aim to keep wayward walkers on path

By BROOKE DONALD, Associated Press Writer

2 hrs 57 mins ago

PALO ALTO, Calif. – Todd Atwood says he doesn’t worry too much about accidents when walking down the street using his iPhone to make calls, send text messages or check his e-mail.

But he’s seen the consequences of paying more attention to the gadget than what’s ahead.

“I saw someone walk right into a sign,” recalled the 32-year-old Silicon Valley resident. “She didn’t hurt herself but she was startled. She dropped her phone, then her friends starting laughing at her. It was funny but I guess it could’ve been more serious.”

18 After drop, will stocks rise? S&P data offer hope

By BERNARD CONDON, AP Business Writer

Sun Jul 4, 1:30 pm ET

NEW YORK – OK, you’re gutsy enough to buy on dips. Now how about buying on a dive?

After a scary slump for stocks this spring, that’s the question facing many investors. In the three months ended June 30, the Standard & Poor’s 500 index fell 11.9 percent, the biggest quarterly loss since the financial crisis. The fear is that economic growth may slow, or stall, and that’s got even bulls wondering if stocks could drop even lower.

The good news: If you can muster the courage to buy, history suggests you may be rewarded.

19 Mideast buyers reported to be eyeing BP investment

By ADAM SCHRECK, AP Business Writer

Sun Jul 4, 3:04 pm ET

DUBAI, United Arab Emirates – BP may be looking to sovereign wealth funds in the oil-rich Middle East to fend off takeover bids amid mounting costs from the Gulf of Mexico oil leak disaster, according to reports published Sunday.

The National, an Emirati newspaper, cited unnamed “informed sources” in the region saying that Mideast financial institutions have submitted proposals to BP advisers and are waiting for a response. Among the options being considered are the acquisition of key assets or a direct cash injection to help strengthen the oil giant’s balance sheet, according to the English-language paper.

The paper quoted a person it called an informed source as saying that “BP knows there is potential support from the Middle East.”

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