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Wednesday, 22 August 2012

Wednesday, August 22, 2012
The U.S. economy will sink into a deep recession and unemployment will jump back above 9 percent if Congress does not avoid a "fiscal cliff" waiting at the end of the year, according to a Congressional Budget Office study published Wednesday.

The report is the latest, possibly most dire, warning of the consequences of congressional inaction on more than $600 billion in spending cuts and tax increases currently mandated to take effect at the start of 2013. The question is whether it will spark more action, and just how helpful that action would be.
Ex-Bailout Watchdog: CNBC Just 'Krugmanned' Me
Matt Taibbi: 'Our Best Minds Kind Of Suck At Investing'
WATCH: Robert Reich Takes A Stand
RYAN SHRUGS: Everything Ayn Rand Taught The VP Candidate
Chris Hedges: A World of Hillbilly Heroin
Drug overdoses are the leading cause of accidental death in West Virginia, and the state leads the country in fatal drug overdoses. OxyContin -- nicknamed "hillbilly heroin" -- is king.
Steve Blank: When Microsoft Threatened to Sue Us Over the Letter 'E'
Dear Bill Gates: While I understand Microsoft's proprietary interests, I did not realize that one of the 26 letters in the English language was now the trademarked property.
Carole Brody Fleet: It's A Matter of Life...And Debt: Know Your Rights!
The letter stated that I was "obviously responsible" for "taking care of your husband's obligations" and that if they did not receive payment in full within 30 days, they would take further action. Did I mention that almost all of the officers of said financial institution were guests at our wedding? And his funeral?
Lauren Zander: 'Failure' Is Not a Dirty Word
It's actually guaranteed that you will fail at some point while pursuing a dream in your life. But when you fail, will you misunderstand its lessons like most people usually do? Or will you relate powerfully to your failures?
Danny Schechter: Guilty Until Proven Innocent: Extortion Against Standard Chartered Shows Bias Against Iran
Wall Street has become a place where real financial fraudsters go unpunished while inflated cases like this get the attention especially when a demonized "evil doer" like Iran is said to be involved. Real crimes like the way sanctions hurt ordinary Iranians go unreported.

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