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/begin my translation [Outside Column] Europe's Credit Bubble More Dangerous Than China's If a private equity fund collapses, investors could lose part of their wealth, but if Europe's credit bubble implodes, it could completely wipe out many funds and banks in a blink Wolfgang Munchau, Columnist at Financial Times posted at 2007.06.08 14:29 / revised at 2007.06.09 04:39 Currently, there are two bubbles in the world. One is the bubble of China's stock market, and the other is Europe's credit bubble. Most people talk about the China's bubble, but in reality, the Europe's bubble is far more dangerous. The...

Some Giuliani Reaction Via E-Mail [Rich Lowry] A sampling of the email reaction. I wonder if Rudy even realizes what he’s doing to his candidacy? —Hi Rich. Giuliani's comments are the kind of talk that is going to ensure that the Democrats win the White House. He's talking about people ignoring their core beliefs. I have respect for him and think he's a great speaker, but as a Christian conservative (ironically, from Iowa) I can honestly tell you that I will not vote for him. Period. And I don't care if it does allow Hillary the presidency… —As an up...

When Rudolph Giuliani announced his entry into the race for president, we noted that there were reasons to find his candidacy both compelling and problematic. In the latter category fell, above all, his denial that unborn children have a right to life. Even on that issue, however, we held out hope that Giuliani would try to meet pro-life conservatives halfway. He had already come around on partial-birth abortion, even if he had not come up with a good explanation for his shift. He had said that he favors “strict constructionist” judges, who attempt to determine what the law is rather...

COLUMBIA, S.C. - Presidential hopeful Rudy Giuliani ventured to conservative South Carolina yesterday hoping to talk about terrorism and the economy, but instead got hit at every stop with another topic - abortion. A day after the former mayor said he supports public funding of abortion - sparking a firestorm among conservatives - local media here forced him to elaborate on the issue at events intended to underscore new endorsements. And although Giuliani, who is seeking the Republican presidential nomination, did not waiver from his central belief that abortion is a woman's right, he responded with some of his most...

If you listened closely this week, you might have heard Rudy Giuliani’s presidential campaign crack. Like the hard smack of a pebble against a car windshield, Rudy’s reiteration of his support for public funding of abortion put a knick in his veneer that will keep snapping, crackling, and popping in all directions if there isn’t some serious repair work done, but quick. First of all, let’s get something straight. I’m a Rudy fan. I like the smile and the strut and the machismo, and all that they portend for both my constant entertainment and consistent protection under a Giuliani administration....

LAS VEGAS --From Stardust to just dust. The Las Vegas Strip's first mass-market casino-hotel was imploded early Tuesday in a hail of fireworks to make way for Boyd Gaming Corp.'s $4.4 billion megaresort Echelon. Hundreds of people partied beneath tents and on makeshift patios before Boyd chairman Bill Boyd's four grandsons pushed a plunger to detonate the former Stardust casino. The blast generated a massive dust cloud that chased the revelers into cars, buses and nearby casinos.

The incipient implosion of Islam -------------------------------------------------------------------------------- Let me start you off with a brief, exciting story about a jailbreak in Iran that beats anything Hollywood will do this year. And it's all true! Read about it here. Now, that was just a quick peek at the human drama and divine power you never hear about – despite the millions of noisy words pouring out of the media on Iraq, Iran and the Islamic menace. Last February, Joel C. Rosenberg gave us another astonishing glimpse into the real Muslim world: Last week I took my wife and kids to see the...

Hollow Military 2.0By Gary J. SchmittAEI.org | November 6, 2006 The defense budget has grown appreciably since the September 11, 2001, terrorist attacks. But too little of the increase has gone to purchase new equipment or to increase the size of the Army and the Marine Corps. The result has been a “hollow buildup” that makes it increasingly difficult for the U.S. military to carry out its part of America’s national security strategy.Unprecedented. In August 2006, General Peter Schoomaker, the Army chief of staff, refused to submit an Army budget proposal for fiscal year (FY) 2008 to Secretary of Defense...

Just announced on the FNC.

Senate Majority Leader Bill Frist, R-Tenn., weighed in on the Sen. John Kerry firestorm with a comment on his VolPac.org blog. Frist, infuriated by Kerry's comments, suggested the junior senator from Massachusetts may have dealt a blow to his own party by reminding Americans of the destructive beliefs of liberal leaders in that party. Writes Frist: "Yesterday afternoon, Senator Kerry got up in front of the cameras and angrily made "crystal clear, as crystal clear as I know, I apologize to no one for my criticism of the President." Of course, no one ever asked him to apologize to President...

There’s no fight like an old fight. And this week’s emotional exchanges between President George W. Bush and Sen. John Kerry were nothing if not old. Kerry screwed up what he called a “botched joke” about Bush’s brainpower when it comes to Iraq; Bush pounced by challenging his ex-rival’s commitment to the troops. Memo to Bush and Kerry: neither of you are on the ballot next week. And while it may be satisfying to rehash the last election, you both run the risk of looking totally out of touch. The risks for President Bush are greater than they are for...

Democratic National Committee Chairman Howard Dean defended U.S. Sen. John Kerry on Wednesday, dismissing as "bloopers" remarks Kerry made that were construed by some to be insulting to American troops. "Kerry made a blooper. Bloopers happen," the former Vermont governor told reporters. On Monday, Kerry told a group of students that people unable to succeed in the U.S. educational system would likely "get stuck in Iraq." The White House has called on Kerry to apologize for the statement, and Kerry has faced fallout elsewhere, too. A Democratic congressional candidate in Iowa canceled a campaign event with him, and Kerry himself...

A few Democratic candidates joined Republicans today in pressing John Kerry to apologize for a comment critics said appeared disrespectful of U.S. troops as several Kerry campaign appearances were canceled. "Whatever the intent, Senator Kerry was wrong to say what he said," said Democratic Rep. Harold Ford Jr., running for Senate in Tennessee. "Sen. Kerry's remarks were poorly worded and just plain stupid," said Montana Senate President Jon Tester, a Democrat trying to unseat GOP Sen. Conrad Burns. "He owes our troops and their families an apology." "I'm sorry he did what he did. But I think the issue ......

A few Democratic candidates joined Republicans Wednesday in pressing John Kerry to apologize for a comment critics said appeared disrespectful of U.S. troops as several Kerry campaign appearances were canceled. "Whatever the intent, Senator Kerry was wrong to say what he said," said Democratic Rep. Harold Ford Jr., running for Senate in Tennessee. "Sen. Kerry's remarks were poorly worded and just plain stupid," said Montana Senate President Jon Tester, a Democrat trying to unseat GOP Sen. Conrad Burns. "He owes our troops and their families an apology." "I'm sorry he did what he did. But I think the issue ....

Sen. John Kerry has canceled plans to campaign for several fellow Democrats after controversy over his comments to college students about getting "stuck in Iraq." President Bush's 2004 presidential rival -- who explained Tuesday that his comments were a "botched joke" targeting Bush -- will not appear with Pennsylvania Democrat and U.S. Senate candidate Bob Casey on Wednesday night in Philadelphia, as originally planned, a Democratic official said. "I would be surprised if you see him welcomed out there anywhere," the official said, "and certainly not in a race that is meaningful." Strategists at both the Democratic House and Senate...

Sheldon's new book, blasting "elites" and "phonies" in Dem Party who were too cheap to help start Air America Believe it or not, I am not trying to offend anyone with my posts. ... many criticisms have been directed at me for the “problems” that Air America has had during its “birth pangs.” Almost 5 years ago I started the Air America project and invested over $3 Million on the start of a liberal radio network. In fact, Arianna invited me to her house in November, 2002 to present some of my ideas with a group of Hollywood elites trying...

The image above shows a corpulent former Russian President Boris Yeltsin bedecked in toga and driving the “young farm girl” and “young factory fellow” from a famous Soviet monument like horses before his chariot. The caption reads: “Corruption: An impediment to progress.” Will Russia fall as Rome did, it seems to ask? Yeltsin was justly criticized during his reign for personal and systemic corruption but in fairness we must ask: Was it any difference before or since in Russia? Is Russia making any economic progress now? As this article will show, the answer is a resounding “nyet!” On May 24,...

Four days after the killing of top terrorist Abu Musab al Zarqawi brought the U.S. its most stunning military success of the Iraq war, the top Democrat on the House Intelligence Committee is calling for Defense Secretary Donald Rumsfeld to be fired because the military effort is failing. "I don't think we're succeeding militarily," Rep. Jane Harman told "Fox News Sunday." "Continuing the same course, you know, is not getting us anywhere," she insisted. "What would help with doubters - and there are doubters in both parties all over the country - [would be] if the president decided that Rumsfeld...

An empty watchtower overlooks a deserted road lined with rusting vehicle parts. The only traffic is a pregnant bitch and a mule and cart. This is Gaza's economic lifeline, the Karni crossing into Israel, which is supposed to handle 1,300 containers of merchandise and food per day in order to sustain 1.3 million people.But nothing is entering or leaving Gaza, and now the funds to purchase what is available there are also drying up, bringing the dire situation of its people to a new and febrile crisis.

They'll be serving champagne cocktails and scrambled eggs at the Petroleum Club, offering a 40th-floor view when the Landmark Tower implodes Saturday morning and removes a deteriorating eyesore from the Fort Worth skyline. Courtyard by Marriott, itself a rehabilitated downtown building near the Landmark, has been renting rooms with a view to people -- mainly curious North Texans -- who want a firsthand glimpse of this footnote to urban history on Houston Street between Sixth and Seventh. One hotel guest is an implosion enthusiast who's traveling from Arizona to watch the tallest Texas structure ever demolished. Courtyard guests have booked...