The Daily World Affairs Report: The Daily WAR (08-04)

Brussels said the dramatic rise in the bond costs of Italy, Greece, and other heavily-endebted states suggests markets may be losing confidence in the state finances of these countries.

The spreads between German Bunds and 10-year bonds in the Club Med bloc have rocketed to post-EMU highs.

Analysts say it is now certain that the European Central Bank will cut rates by a half point or more on Thursday. A string of ECB governors have said in recent days that inflation has receded as a serious threat.

Even Axel Weber, the Bundesbank's uber-hawk, warns that "central banks must be alert so as not to fall behind the curve".

(And: France threatens to seize banks, German bailouts escalate)

(And: EU predicts plunge in jobs and economy)

(And: Euro area hits 0-bound for economic forecasts)

End of Chicago free-market ideas?

MISC

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The end of international law?

Distress about wars and economy feed apocalyptic warnings

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* "Here I have to reveal a trade secret, which punctures the mystique of intelligence analysis. Generally speaking, 80% of the information one needs to form judgments on key intelligence targets or issues is available in open media."

* "In his usual form, former UN weapons inspector Scott Ritter told a packed crowd to stop whining about corporate media and become their own intelligence operatives. We the people have the same resources and tools that intelligence networks rely heavily on; it's called 'Google.' As our own intelligence operatives we can't allow CNN, FOX, NBC, and ABC to edit and cherry pick information, but ask questions and find the answers ourselves."

* "Many apparently separate developing daily events don't make the slightest sense, if you don't look at them in their strategic context. In the face of Orwellian control of the media, it is even more necessary, to judge contemporary developments with the eye of an historian, who has not forgotten the lessons of [history]."

Tuesday

The Daily WAR (08-04)