According to The Sydney Morning Herald, “China has detonated an economic bombshell on the eve of the Prime Minister’s drive to sell the carbon tax, warning [that] Australia has a ‘dual-speed and patchwork economy’ and relies too heavily on Beijing’s demand for minerals.”  These stern words were made by a Chinese diplomat speaking on behalf of the Chinese Embassy.

The older generation sees the younger generation and complains, "You can’t find young people who are reliable and willing to work hard." The younger generation sees the older generation and complains, "Old people should retire. It’s a new day and a new way." Why is there tension between the generations?

In a rally in Tripoli last week, General Gadhafi addressed thousands of pro-government supporters by telephone.  In his remarks, Gadhafi stated that if NATO nations do not cease their air campaign against Libya, Libyans will start attacking Europe directly.

As I see the United States government striving to work out a new budget, trying to devise a way to get the nation out of deep debt, I am reminded of an old hymn:  "Give of Your Best to the Master."

How did such a rich country as the U.S. fall into such crushing financial debt? Somewhere in its history, a substantial number of its people quit giving of their best, and started to look out for how much they could take from their fellow Americans.

“EU’s Financial Hurricane Is About to Hit,” read a sobering headline in this week’s Times.  This week something critical happened in reaction to leaked information that the EU would allow Greece to redeem some of their bonds at their current financial status—50% less than their original worth.  The news scared Italian investors with the notion that the same could happen to them.  The result?  Italian bonds immediately dropped to 70% and 80% of their value.