US downgrade 'sounds alarm bell': China media

Standard & Poor's US debt downgrade was a wake-up call for the world, a commentary in a top Chinese state newspaper said, adding that Asian exporters faced special risks.

Citing economist Sun Lijian, the People's Daily on Sunday said Standard & Poor's Friday cut to the US' credit rating from the top notch triple-A to AA+ had "sounded the alarm bell for the dollar-denominated global monetary system".

ece follow a stinging attack launched by the official Xinhua news agency on Saturday, which said Beijing had "every right" to demand Washington safeguard Chinese dollar assets.

The comments carried in the Communist Party mouthpi

China -- which sat on the world's biggest foreign exchange reserves of around $3.20 trillion as of the end of June -- is the largest foreign holder of US Treasuries.

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http://news.yahoo.com/china-hits-us-debt-addiction-downgrade-115303087.html

If the US were on the other side of this, and we owned China debt, we would be saying the exact same thing. And if we did not, once again, there would be something wrong with our politicians!

Asia stocks fall after U.S. downgrade

SYDNEY (MarketWatch) — Asian shares dropped on Monday, with investors shaken after a U.S. government debt downgrade.

Japan’s Nikkei Stock Average JP:100000018 -1.78%  fell 1.7%, while the Australian S&P/ASX 200 index AU:XJO -1.80%  lost 1.7% and South Korea’s Kospi KR:0100 -3.07% declined 3.3%.

The losses were worse for Chinese shares, as Hong Kong’s Hang Seng Index HK:HSI -3.90%  dropped 3.8%, while the Shanghai Composite IndexCN:000001 -3.68%  fell 3.7%.

http://www.marketwatch.com/story/asia-stocks-fall-after-us-downgrade-2011-08-07

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This will be a historic week ahead in the markets.  The US market will be effected by not only the downgrade from S&P, but also by the ECBs decision to buy Italian bonds.

Desert Plant Life

cactus-lilac-texas ebony-mesquite-oleander-monstrose-hildemans-spanish dagger-ocotillo-bougainvillea

http://www.flickr.com/photos/michael_lebb/show/

Are There Problems With Foreign Aid?

http://video.foxnews.com/#/v/4702391/are-there-problems-with-foreign-aid/?playlist_id=86858

This video mentions the Marshall Plan and raises a great point.

http://www.teaparty365.org/

Gov. Walker Stands Firm on Union Reform - Fox News Video - FoxNews.com

Gov. Walker Stands Firm on Union Reform - Fox News Video - FoxNews.com

5 Ominous Signs for Stock Investors - Yahoo! Finance

5 Ominous Signs for Stock Investors - Yahoo! Finance

An Increase In Oil Production Via Obama

Very sad but kind of funny knowing that oil production can take 10- years based on having to develop new technology.  I think we should make a move in the next 90 days to lower gasoline prices.  But you probably would not be in rush to see things happen if you did not pay for the gas going into your gas tank either.

Go to the page below and see a potential solution to lower your gasoline cost in the next 90 days.





http://1mjl.com/economics/an-increase-in-oil-production-via-obama


This is a video that is sad due to the lack of real solutions offered by the leader of the free world.

http://clipsyndicate.com/video/playlist/8178/2462324?wpid=9171