Dominique Strauss-Kahn Head Of The I.M.F. Arrested For Sex Assault

By Renee

Dominique Strauss-Kahn

It looks like all plans to run for President of France have been dashed for Dominique Strauss-Kahn who is now  head of the International Monetary Fund. He has been arrested amid charges of  a sexual assault of a hotel maid in his room. Mr Strauss-Kahn was removed from an airplane he had quickly boarded after the incident. He had fled his hotel room without his cell phone as well as personal belongings. Do honest men run from a crime scene? Is this story correct?

This is not the first unflattering incident for Dominique. It seems unbelievable that a man in a  highly visible position would throw it all away for a forceful sexual encounter.

The Gig Is Up ?

By Renee

One Dollar Bill depicting an alarmed President George Washington

The gig is up. Sell offs in European countries reported.

S & P reports US debt has been downgraded from stable to poor.

http://www.bbc.co.uk/news/business-13118834

From BBC link above:

The US has been warned that the credit rating on its government debt could be cut by Standard & Poor’s.

S&P is concerned that Democrats and Republicans will not be able to agree a plan to reduce the growing US deficit.

It has downgraded its outlook from stable to negative, increasing the likelihood that the rating could be cut within the next two years.

The US Treasury responded that S&P had underestimated its ability to tackle the national debt.

“Because the US has, relative to its ‘AAA’ [top-rated] peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable,” the agency said in a statement.

The surprise move sent US and European shares lower. The S&P 500 fell the most in a month, and the US dollar dropped against the euro and Swiss franc. Oil was also sharply lower.

In Europe, the main UK, German and French indexes all fell by at least 2%.

The US federal deficit currently stands at $1.4tn (£858bn) and is expected to reach $1.5tn in the current fiscal year.

Snip~

Well, here we are. Is it time to get serious and cut our budget now ? In the RIGHT places ?