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...September, if there are buyers to participate in the struggling car markets, and citizens who can be taxed rather than being a tax on the federal and state governments. The news will be particularly bleak if the economy sheds more than 500,000 jobs in any of these months. A plunge of that magnitude in every month could push unemployment to double digits with only eight months of the year gone. (Find out 10 things to do with your money...
...prices could still block a recovery. Just a month ago, no one believed that gas could possibly hit $3. A heavy summer driving season and forecasts of a cold winter in the northern hemisphere would transform the psychology of crude trading and make the majority opinion that oil will rise throughout the year, whereas in the early spring nearly everyone was convinced that it would fall...
...Bush eventually overhauled his approach to the North entirely, and even after the launch of the long-range missile early last month, the Obama Administration was still dangling the possibility of eventual direct talks with the North - if Kim would first return to the multilateral six-party format in Beijing. On Korea, Obama heads the most openly dovish Administration in Washington since Jimmy Carter's. Yet the North's rhetoric since he was inaugurated has been vitriolic. It says it believes the U.S.'s "hostile policy toward the DPRK remains unchanged." (Read "North Korea Launch Poses Problem for Obama...
...this febrile environment, the military is said to have stepped up its influence in Pyongyang. A group of North Korean exiles today circulated a report saying that after the missile launch last month, Kim visited a group of generals and assured them that by 2012 the North will achieve the status of a "nuclear state," one with the ability to fit a warhead on a long-range missile...
...Russian leaders have also expressed concerns about the E.U.'s Eastern Partnership program, which was unveiled earlier this month and aims to deepen economic and political ties with six former Soviet states, including Ukraine. At the E.U.-Russia summit in Khabarovsk over the weekend, Russian President Dmitri Medvedev said E.U. officials had "failed to persuade" him that it was not harmful to Russian interests. "What confuses me is that some states ... see this partnership as a partnership against Russia," he said...