Weekday NEWS to Comfort the Disturbed and Disturb the Comfortable.
Gold could not have asked for a better outcome in US elections
NEW YORK (Commodity Online): The combination of United States congressional and presidential elections resulted in the best result possible for gold, said Zurich based bank UBS in a snippet.
The Swiss bank also suggested that the yellow metal began to pre-empt President Obama's re-election during a run-up in prices on Tuesday. While Obama won another term, Democrats kept control of the Senate and Republicans of the House of Representatives.
By Addison Wiggin - DailyReckoning.com
The city is on lockdown. Street vendors are closed. Taxi drivers have been ordered to seal their windows to prevent seditious material from being leafletted in the main square.
Known troublemakers? Locked up… just in case.
Another G8 or NATO summit in the West? Heh. No, it's the once-every-decade gathering of the Chinese Communist Party's congress. The event starts today… and could have immediate ramifications on U.S. Treasuries, the U.S. dollar and, by extension, the price of gold.
The Gold Standard is not Synonymous with Freedom
By CULLEN ROCHE, Pragmatic Capitalism - PragCap.com
A lot of people didn't like my recent article about fiat money. That was to be expected. And the usual arguments were trotted out. The old "it takes two people to support a family". And then the "fiat is synonymous with corrupt governments". First of all, those statements aren't totally false. But let me elaborate.
If you really wanted to live like you're in the 1950′s you could most likely survive very easily on one salary. Try this. Get rid of your McMansion and move into a cottage with no AC, no heat, no microwave, etc. (okay, that's extreme, but you get the point hopefully – we live in suped up houses these days where the technologies are far superior to those of the 50s). Then massively downsize your home and add an extra occupant. Then get rid of your flat screen TVs, cell phones, cars, computers and technological items that you love. Okay, some of that is unnecessary, but you get the point. The reason why we need two salaries to survive in today's world is because we demand that much more from our lives. We want all the best toys, the best educations, the best roof over our head. These things aren't free obviously. And as a result of two working heads of household, we are able to provide much better living standards to our families than we did in 1950. Don't trust me? Seriously, live the 1950′s lifestyle and let me know if you can get by. You probably won't last a week.
Peter Schiff About Infinte Inflation
And The Safe Havens Gold & Silver
Gold Silver Worlds
In his latest article, Peter Schiff explains the negative effects of interventions of monetary stimulus by the central bank. In particular, inflation is the result of money printing and although governments claim inflation is under control, it is an inevitable effect longer term. It is shortsighted to think that monetary interventions come without (negative) effects. The acclaimed decline of unemployment by the creation of money is not realistic in Peter Schiff's opinion. Obviously a lot of other thinkers and commentators share the same view.
After the announcement of QE3 (also dubbed "QE Infinity") created yet another round of media chatter about a recovery, the Fed's Open Market Committee has decided to push infinity a little bit further. The latest move involves the rolling over of long-term Treasuries purchased as part of Operation Twist, thereby more than doubling QE3 to a monthly influx of $85 billion in phony money starting in December. I call it "QE3 Plus" – now with more inflation!
For Third Year In A Row, Gold Outperfoming Stocks
Submitted by Tyler Durden - ZeroHedge.com
Year-to-Date, the S&P 500 has just dropped back below Gold...Gold's performance year-to-date just surpassed that of the S&P 500 once again. If this remains the case into year-end, this will be the third year in a row that Gold has outperformed stocks. Looking forward, which 'asset' would you choose - Stocks with an implied volatility of 17% or Gold at 15.75% to the end of the year? Sharpe Ratio anyone? Perhaps asking your 'asset allocator' what his weighting is based on will be a worthwhile conversation - with the outperforming returns (past is not a predictor of the future - and noone knows) but lower forward risk expectations?
$100 Silver! Yes, But When?
By GE Christenson - GoldSilverWorlds.com
There are many predictions for the price of silver. Some say it will crash to nearly $20, and others proclaim $100 by the end of 2012. The problem is that some predictions are only wishful thinking, others are obvious disinformation designed to scare investors away from silver, and many are not grounded in hard data and clear analysis. Other analysis is excellent, but both the process and analysis are difficult to understand. Is there an objective and rational method to project a future silver price that will make sense to most people?
The Invisible Experiment With Money And Gold
By Michael MacDonald
and Christopher Whitestone - GoldSilverWorlds.com
The markets are completely bought and paid for, corrupt, and manipulated … "a farce". We are in a corruption bubble, the largest corruption bubble the world has ever seen in modern history and perhaps in all history. This is the first time that the world has been united within instant communication, instant information, instant deposit or receipt of funds into any bank account or financial institution. Michael says: "I believe that we are already a one world order. I actually think we are already there, electronically certainly. I also think that a lot of the debates, wars and conflicts are manufactured, very similar to the presidential debates which are also manufactured. I believe we live in a one-world system, which financially is already completely manipulated."
Keiser Report: Triple-Dip Recession Nightmare (E364)
In this episode, Max Keiser and Stacy Herbert discuss Goldfinger at the New York Fed in Lower Manhattan where Germany's gold did not dissolve in the Hurricane Sandy floods, but $13 trillion in paper assets did. They also discuss Treasury secretaries and Goldman CEOs as the stuff of nightmares. In the second half, Max Keiser talks to Ned Naylor-Leyland about Germany's gold, JP Morgan's shorts and Bart Chilton's 'investigation.'
Business leaders beg for a political truce
By Tim Devaney-The Washington Times
With election-year politics in the rearview mirror, the business community called Wednesday for a "cease-fire" between the White House and a divided Congress, in hopes that leaders of both parties will come together to deal with the so-called "fiscal cliff" before it's too late.
Business leaders say striking a deal before year's end would give them the certainty needed to increase hiring, but not doing so would slow growth and potentially send the economy into another recession.
CEO Drumbeat for Tax Reform Grows Louder
By: Justin Menza - CNBC.com
Following President Obama's re-election on Tuesday, CEOs, investors and other business leaders are pushing for Congress and the president to reach a deal on the looming "fiscal cliff" and corporate-tax reform.
On Thursday, ratings agency Standard & Poor's warned there was a 15 percent chance the U.S. could go off the fiscal cliff— when automatic tax hikes and spending cuts kick in at the end of the year. According to estimates from the non-partisan Congressional Budget Office, going off the cliff could take $600 billion out of the economy and cause a recession.
Why Should Obama Compromise on Taxes?
By Robert Wright - TheAtlantic.com
To judge by this story in the Washington Post, you'd think House Speaker John Boehner is ready to lead Republicans toward a new era of bipartisan cooperation:
Republicans are "willing to accept new revenues," Boehner said, suggesting he is willing to break with the orthodoxy of many influential Republicans out of a desire to "do what's best for our country."
But it turns out that by "new revenues" Boehner isn't referring to President Obama's plan to raise tax rates on the rich. Rather, like Mitt Romney, Boehner is a fierce champion of conveniently-unspecified-magical-loophole-closing.
California Voters Approve Higher Taxes
[Google title for free article pass]
BY VAUHINI VARA - WSJ.com - $$
SAN FRANCISCO—In approving a ballot measure sought by Gov. Jerry Brown to raise taxes for several years, Californians took a step toward improving the state's fiscal situation and avoiding education cuts.
According to the California Secretary of State's website, 53.9% of voters backed the measure, Proposition 30, while 46.1% voted against it, with all votes counted except for provisional and some mailed-in ballots.
Fiscal cliff forecast: Bad now, worse later Budget analysts warn all options will be painful
By Stephen Dinan-The Washington Times
As Congress prepares to try to negotiate ways to avoid the fiscal cliff, its own scorekeeper has some stark analysis: There will be pain no matter what, but ducking choices now will mean an even worse situation by the end of the decade.
In two reports Thursday, the Congressional Budget Office laid out some of the options facing Washington as lawmakers return next week for a lame-duck session of Congress. But the CBO said that no matter what Congress does, the economy in the short term will struggle.
Obama to make public statement on 'fiscal cliff'
By Amie Parnes - TheHill.com
Fresh off his reelection win, President Obama will address the economy on Friday and the action Congress can take to reduce the deficit.
Delivering a statement in the East Room of the White House, Obama is expected to discuss the tax increases and spending cuts that are set to take effect in January, and will likely urge Congress to take action on both. He is not likely to put forward a new plan.
CBO lays out 'fiscal cliff' costs
By Erik Wasson - TheHill.com
The nonpartisan Congressional Budget Office (CBO) on Thursday laid out in substantial detail the costs of not dealing with the so-called "fiscal cliff."
CBO had already estimated that going over the cliff would spark a recession, while simply voiding the tax and spending increases would add trillions to the debt. But the new study breaks down the costs and benefits of allowing various parts of the fiscal cliff to remain in place.
Obama Victory: Increased Gold and Silver Storage
in Zurich and Asian Capitals
BY MARK O'BYRNE - FinancialSense.com
....Many analysts believe that President Obama's re-election is the "best- case" scenario for precious metals due to implications for monetary and fiscal policy. Obama faces chronic high unemployment, weak economic growth and the upcoming fiscal cliff, not too mention very difficult geopolitical challenges in the form of Israel, Iran, Russia and China.
Today, The European Central Bank has its rate decision at 1245 GMT and they are expected to leave rates unchanged.
James Turk on the Central Bank Gold Heist
and Bundesbank Accounting Shenanigans!
A recent public debate has centered around the safety of Germany's gold deposits outside of the country. Recently a member of the Bundesbank's executive board, Dr. Andreas Dombret, addressed this issue a speech. According to the text, Dr. Dombret said this discussion is driven by "irrational fears," while acknowledging "gold is important." James Turk, chairman and founder of Gold Money, says the question of "where the Bundesbank's gold is" remains relevant and argues Germany should repatriate this gold given that the precious metal is one of the "pillars of a country's sovereignty." Mr. Turk goes on to explain in detail how a central bank's gold, specifically the Bundesbank's, isn't really accounted for in a way that conforms with generally accepted accounting principles.
GERMAN CALLS FOR GOLD REPATRIATION INTENSIFY
AS FED REFUSES TO ALLOW INSPECTION
Calls for Germany to repatriate its 1,536 tons of gold reserves held at the NY Fed are intensifying as Der Spiegel reports the Federal Reserve has refused to allow German inspectors to even view the country's massive gold reserves "in the interest of security and of the control process".
We have stated repeatedly that with repatriation and/or audit requests completed or in progress by Venezuela, Germany, Switzerland, and the Netherlands, The BOE and the Fed suddenly find themselves in a heap of trouble as the situation (and confidence that the Central banks actually still hold the tungsten gold reserves on deposit) is rapidly deteriorating.
The Greek books are still being cooked This week saw yet more austerity measures voted by the Greek parliament for yet another bail-out that won't be repaid
By Jeremy Warner - Telegraph.co.uk
While all eyes were focused on the US presidential race, Europe has been busy cooking up another fudge over Greece. Now in its sixth year of recession, with spiralling joblessness and an administrative system close to collapse, this is a country in a truly desperate state.
Despite their troubles, or perhaps because of them, the Greeks still cling to the euro as a last vestige of modernity and European solidarity. About the only thing they can agree on is that they don't want to leave Europe's monetary union, even though it can reasonably be seen as the root cause of so many of their woes. A currency that seems to offer only boom and bust in equal magnitude is bizarrely viewed as the one hope of resolving Greece's myriad problems.
Greece passes austerity bill despite clashes
BY VALENTINA POP - EUObserver.com
BERLIN - The Greek Parliament early Thursday (8 November) narrowly adopted an austerity package needed to unlock the next bailout tranche, despite a general strike and violent clashes with riot police.
On the eve of the vote, over 100,000 people took to the streets in the Greek capital, with Syntagma square again the scene of violent clashes with riot police.
We Aren't In Kansas Anymore
By Mark J. Grant - ZeroHedge.com
While the citizens of Athens rioted and threw Molotov Cocktails outside of their Parliament the elected officials narrowly passed the new austerity measures demanded by the Troika last night. They have a budget vote left, likely to be passed, and then the focus will shift to the IMF and the European Union and whether they will fund and how it will be done. The Greek government says it will run out of money on November 16 and the country has debt payments to be made on November 21. Last night's vote in Athens was only the first page in the current chapter and there are a number of open questions left. Prepare for the European 'fiscal cliff'..
Cyprus expects EU bailout deal next week
BY ANDREW RETTMAN - EUObserver.com
BRUSSELS - With Greece (twice), Ireland , Portugal and Spain (its banks) already on the list, Cyprus expects to clinch an EU bailout of up to €15 billion next week.
Negotiations on details of the rescue start in Nicosia on Friday (9 November).
A "troika" of international lenders - the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) led by commission official Maarten Verway - landed in the Cypriot capital on Thursday.
Obama's Back In: Does He Succumb To Popular (Ignorant?) Opinion Like The Europeans Or Make The Tough Choices
by Reggie Middleton - ZeroHedge.com
Many have asked me if I believe in austerity measures or the Keynsian approach of spending out of recession. I have stated, time and again, that the question is loaded - hence the answer can never be sufficient. When you are trying to go from your home to the market across town in a crowded urban environment, you cannot make the trip successfully by deciding ahead of time that you are just going to make left turns (austerity? Austrian?) or right turns (stimulus? Keynsian?). You come to an intersection and you make the turn that's necessary to get you where you want to go. It might sound overly simplistic and common, but I'll be damned if common sense is one of the most uncommon things I've come across over the last 7 years or so!
Fed Chairman Ben Bernanke Re-Elected Obama The Republican who re-elected Obama Bush-appointed Federal Reserve Chairman Ben Barnanke kept recovery on course.
By Alan Draper, USA Today
In 2008, President Obama owed his election, at least in part, to three people: Michael Jackson, Michael Jordan and Oprah Winfrey. They made it easier for whites to judge Obama on his merits and not by the color of his skin because these black cultural icons had come before him into every home in America.
It was harder for whites to hold Obama's race against him when their sisters grooved to Michael Jackson, their brothers wanted to be like Mike and their mothers shared afternoons with Oprah Winfrey. These black celebrities prepared the ground for a black presidential candidate to ask whites for their vote.
Axelrod: Election shows PACs 'can't buy the White House'
By Amie Parnes - TheHill.com
Obama campaign senior strategist David Axelrod said Thursday that if he were a Republican billionaire who donated to a conservative super-PACs during this election, he would want his money back.
Speaking to reporters on a conference call two days after Obama won reelection, Axelrod said one key takeaway of the presidential race and other congressional races, is the ineffectiveness of the super-PACs.
Adviser: Romney "shellshocked" by loss
By JAN CRAWFORD / CBS NEWS
BOSTON, MASS. Mitt Romney's campaign got its first hint something was wrong on the afternoon of Election Day, when state campaign workers on the ground began reporting huge turnout in areas favorable to President Obama: northeastern Ohio, northern Virginia, central Florida and Miami-Dade.
Then came the early exit polls that also were favorable to the president.
America Has Shifted To The Left And The Culture War Is Over
By Michael Snyder - EndOfTheAmericanDream.com
Election day 2012 showed once again that America is moving steadily to the left. Yes, Barack Obama defeated Mitt Romney, but the underlying dynamics run much deeper than that – especially when you take a look at social issues. Older voters are more conservative when it comes to social issues, but they are slowly dying off and being replaced by younger voters that tend to be much more liberal. So on a whole host of controversial social issues including gay marriage, abortion, immigration and drug legalization we are seeing a dramatic shift take place. The American people as a whole are rejecting traditional values and are embracing a more "progressive" view of morality that is being promoted by our education system, the entertainment industry and the federal government. Those that want to cling to the morality of the past are being told that they "are on the wrong side of history" and that they need to come into the 21st century. On election night I spent a lot of time watching CNN, and even their "conservative pundits" were trashing those that still believe in traditional values. Sadly, it is likely that those that believe in traditional values are going to have a harder and harder time trying to win national elections. It is much easier to get people to change their minds about economic issues or foreign policy issues than it is about fundamental questions of right and wrong. The demographic tidal wave that is pushing America to the left is not going to stop, and it would literally take a miracle to see this country start to move back in the direction of traditional values.
Why Rush is clueless Hey, Rush Limbaugh:
'Starting an Abortion Industry' Won't Win You Female Voters
By Matt Taibbi - RollingStone.com
Like a lot of people, I listened to Rush Limbaugh the day after the election. Pure Schadenfreude, I admit it; I just wanted to hear the reaction. I searched the right-wing media landscape far and wide and tried to find even a hint of self-examination, self-criticism, and I didn't find much. Then again, they didn't lose the presidential vote by much, so they didn't take the election result as a total repudiation of their belief system, as they probably shouldn't have, anyway.
JPMorgan Banks on Food Stamps
Twenty-six states have "outsourced" the provision of food stamps to JPMorgan; the GOP has no need to despair, seeing as Obama acts like a moderate Republican; meanwhile, new research shows that Britain has invaded 90% of the world. These discoveries and more below.
Can Obama Create Main Street Jobs in 2nd Term?
AP - CNBC.com
President Barack Obama's successful re-election to a second term is sinking in. No matter who small business owners voted for, the election takes away some of the uncertainty that small business owners have been carrying around. The question now is whether Obama can satisfy those who say he hasn't done enough to help them expand and create jobs.
During Obama's first term, the president pointed to steps he took to help small companies, such as proposing the Small Business Jobs Act of 2010 that cut taxes for small companies and made it easier for them to obtain federally guaranteed loans. These steps have helped some small businessesstart their recovery from the recession.
Two-Tier Global Housing Market Could Lead to Bubble: Goldman
By: Shai Ahmed - CNBC.com
A two-tier housing market amongst developed economies has sprung up as some countries have rebounded faster from the global financial crisis than others, according to new research by Goldman Sachs, which warns the situation could lead to several bubbles.
In a report titled: "Just don't look down some house markets are flying again" Goldman argues easy money policies by the world's major central banks has had a ripple effect on countries which have avoided the worst of the global financial crisis, boosting their house prices.
Layoff bomb detonates;
Large corporations join small businesses
in announcing mass cuts
by Twitchy Staff
Earlier today, Twitchy related some heartbreaking stories of small business owners laying off workers to avoid the economic impact of the Obamacare tax that isn't a tax. Comedian Jon Lovitz, a small business owner himself, was no barrel of laughs either as his timeline filled with stories of impending downsizing. So, what about those big corporations? Boeing's defense division announced yesterday it would cut 30 percent of management staff, and the company was not alone, we're learning.
Businesses brace for Obamacare Obamacare Is Here to Stay. Now What?
By: Burt Helm, INC - CNBC.com
The Affordable Care Act withstood many trials on its way toward becoming reality, from epic congressional battles, to a pivotal Supreme Court ruling, to — finally — yesterday's Presidential election.
Obama's reelection means his health-care reform act has dodged its last bullet, and the age of universal mandates, penalty taxes and tax credits will almost certainly go into effect, although probably not exactly as scheduled on Jan. 1, 2014.
Boeing Announces Big Layoffs in Defense Division
Reuters - CNBC.com
Boeing announced a major restructuring of its defense division on Wednesday that will cut 30 percent of management jobs from 2010 levels, close facilities in California and consolidate several business units to cut costs.
The company told employees about the changes on Wednesday, in a memo obtained by Reuters and confirmed by Boeing.
The Unequal Reality of America's Jobs Recovery Where you live, what you do, what race you are, and what level of education you've attained continue to shape Americans' employment prospects
By Zachary Karabell - TheAtlantic.com
Today's U.S. Labor Department report on jobs confirms what we've known for more than a year: We have entered a new normal for jobs, with marginal gains, marginal losses and higher levels of unemployment becoming the unfortunate norm.
It also confirms that where you live, what you do, what race you are and what level of education you've attained profoundly shape your employment prospects. In spite of claims of a youth unemployment crisis and ample anecdotes about a punishing job markets for recent college grads, there is - statistically - no job crisis for the college-educated, with their unemployment rate hovering around 4 percent. That contrasts with the national average of 7.9 percent and an average in the mid-teens for those with a high-school degree. For African Americans of any education level, the rate is 14.3 percent; for Hispanics, 10 percent; for Asian Americans, 4.9 percent. If you live in Nebraska or North Dakota, the jobless rate is less than 4 percent, thanks to robust prices for grains and corn and the oil and gas of the shale revolution. If you live in Oklahoma, Iowa, Minnesota or Kansas, the rate is below 6 percent. But in California, Nevada or New Jersey, it is at or above 10 percent.
Gerald Celente - Alex Jones Show - November 6, 2012
Best Criminal on The Block Became President
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What Apple Dumping Intel Could Mean Commentary: Could roil through industry if others mimic Apple
By Therese Poletti - MarketWatch.com
SAN FRANCISCO (MarketWatch) — If Apple Inc. really dumps Intel Corp. as its provider of chips for the Macintosh family of computers, the move could be a harbinger of things to come for the PC industry and bad news for the semiconductor giant.
Earlier this week, Bloomberg reported that Apple is exploring ways to replace Intel's processors in the Macintosh, which Apple has been putting in the Mac since 2005. The report said that such a move, if it happens, would probably not occur until about 2017.
Nasa intend to establish a manned outpost on the Moon, according to experts
By JAMIE LEWIS - Independent.co.uk
Nasa is likely to announce new plans to send astronauts back to the moon following the outcome of the US presidential race, according to reports.
Space policy expert John Logsdon, claims that such plans were kept under wraps in case Mitt Romney, who lost to the incumbent Barack Obama, won earlier this week.
In an interview with space.com, Logsdon claimed Nasa intend to establish a manned outpost on the Moon with a view to visit an asteroid in 2025.
China's Hu Jintao clings to socialist economy
in Mao nostalgia speech China's Communist Party is to stick "unswervingly" to state control over Asia's largest economy, dashing hopes for deep free-market reform over the next decade.
By Ambrose Evans-Pritchard - Telegraph.co.uk
President Hu Jintao opened the 10-year power handover with a clear warning to modernizers that Beijing will not give up control over the commanding heights of industry and commerce.
In a valedictory state of the nation address after a decade in power - called "Firmly march on the path of Socialism" and delivered beneath a huge hammer and sickle - he insisted that "public ownership is the mainstay of the economic system" and warned that the party must "resolutely not follow Western political systems".
Keiser Report: Rip It Up & Start Again! (E363)
In this episode, Max Keiser and Stacy Herbert discuss electing 'powerless' governments which then proceed to rip up social contracts and illegally transfer debts to private citizens, who, in turn, accept the 'moral responsibility' to keep the corporate welfare Queens rolling in their sacrosanct perks. In the second half, Max Keiser talks to Simon Rose of SaveOurSavers.co.uk about the attempt to try capitalism without capital and how the erosion of savings is costing the economy not only capital but jobs and growth.
Religion and Voters in 2012 Traditional believers did their part for Romney on Tuesday, at levels comparable to 2004.
By MARK TOOLEY - Spectator.org
Whatever the reasons for Mitt Romney's defeat and Barack Obama's victory, it cannot be faulted on traditional religious voters, who seem to have voted in force.
As predicted in a pre-election Pew polls and elsewhere, traditional Catholics and evangelicals seem to have repeated their 2004 high water of support for the Republican presidential nominee. Exit polls showed that white evangelicals, who were 26 percent of total voters, rehashed their 2004 level of support for George W. Bush, supporting Romney by 79 percent to 21 percent. In 2004 white evangelicals were 23 percent of the electorate, sparking fears of impending theocracy by some on the Left.
Why This Election Is Much Less Satisfying (or Harrowing)
Than You Thought It Would Be Winning is much less satisfying when the other side doesn't concede it was wrong, for one.
By Libby Copeland - TheAtlantic.com
If you're the sort of person who lives and breathes elections -- and if you're reading this, there's a good chance you are -- you probably had a deep emotional investment in this one. You might have predicted that you'd be impossibly elated or horribly depressed in its aftermath. Expecting that is natural, but as it turns out, it's also wrong.
Daniel Gilbert, the Harvard researcher in happiness studies, has shown repeatedly how crummy human beings are at predicting what will make us feel good. Again and again, we suffer from something called "impact bias," in which we overestimate how much influence a particular outcome (like winning the lottery or becoming a paraplegic) will have on our mood. And the presidential election is no exception, as Gilbert and colleagues found when they tested this theory on the Bush v. Gore showdown.
The Right Is Crippled -- Now Let's Make Sure Dems
Don't Sell Out Social Security and Medicare The delirium of liberals this morning is understandable. By all rights, they should expect to be a more powerful force in Washington. But what are they going to get from it?
By Glenn Greenwald - Alternet.org
The greatest and most enduring significance of Tuesday night's election results will likely not be the re-election of Barack Obama, but rather what the outcome reflects about the American electorate. It was not merely Democrats, but liberalism, which was triumphant.
Republican defeat has conservative factions
fighting for party control Tea Party says Romney was too moderate while leaders like Marco Rubio urge outreach to minorities as path to success
By Ewen MacAskill in Washington - The Guardian
The election may yet be remembered less as the day Mitt Romney lost the presidency and more as the day the Republican party died, at least in the shape that has existed for decades.
The post-mortem into Tuesday's disastrous election results was already under way Wednesday. There was near consensus that the party needs a drastic overhaul. Does it move further to the right or to centre? Does it reach out to women, the young and minorities, eating into the Democratic coalition?
Where Republicans and Conservatives Went Wrong By their silence they in effect accepted Obama's blaming it all on what he inherited from Bush.
By PETER FERRARA - Spectator.org
The American people lost literally trillions in the financial crisis, in home values, in stock values, and in lost jobs and wages. Obama had a narrative as to what caused the financial crisis. It was Bush's, and maybe even Reagan's, tax cuts, and Republican deregulation. And the argument that won the election for Obama in my opinion was that Romney just wanted to go back to the same policies that caused the financial crisis (the mess we are in) in the first place.
Rep. Berman rumored
for secretary of State job after losing California seat
By Julian Pecquet - TheHill.com
The list of rumored replacements for secretary of State Hillary Clinton has a new name following Rep. Howard Berman's (D-Calif.) defeat Tuesday night.
Berman, a 15-term lawmaker who lost his reelection bid in California's redrawn 30th Congressional District, is drawing support from an array of lawmakers — including the Democrat who beat him, Rep. Brad Sherman.
Iranian fighter jets fired on US drone, Pentagon confirms US-Iran tensions grow as defence officials say US will continue to conduct surveillance flights in Persian Gulf
By Tom McCarthy in New York - Guardian.co.uk
Iranian fighter jets fired on a US drone over the Persian Gulf last week, missing the unmanned aircraft, the Pentagon has said.
The Predator drone, which was reportedly unarmed, photographed the 1 November incident with still and video cameras, Pentagon officials told CNN, which first reported the attack.
The Washington Post said the drone was very close to the Iranian coastwhen it was shot at.
Iranian jets fire on U.S. drone
By Barbara Starr - CNN.com
Two Iranian Su-25 fighter jets fired on an unarmed U.S. Air Force Predator drone in the Persian Gulf on November 1, the Pentagon disclosed on Thursday.
The incident, reported first by CNN, raised fresh concerns within the Obama administration about Iranian military aggression in crucial Gulf oil shipping lanes.
The drone was on routine maritime surveillance in international airspace east of Kuwait, 16 miles off the coast of Iran, U.S. officials said. The Predator was not hit.