Larwyn's 'Lines: Treasury Auction Undermines Hopenchange

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Nation

Conservatives must defend their convictions: Steyn
Borking Machine Gets Early Tune-up: Times
Top Pelosi Aide Knew of Waterboarding: GWP

Warrior's Code: Petraeus' Words: This Ain't Hell
Pelosi Surrounds Herself With Herself: LegalIns
Romney vs. Palin: another fake controversy: RRR

Specter's very bad week: PJM (Driscoll)
SEIU influence seen on Cali's 'Stimulus': Marathon
Climate not changing for Globo-Warmers: Prairie

Crime & Law

Criminal misconduct in Justice Dept.: Power Line
More ACORN vote fraud comes to light: WSJ (Fund)
Investigating ACORN: Fox (Beck)

Zappala charges ACORN workers: Pitt Live
ACORN under fire for alleged voter fraud: OneNewsNow

Economy

California had most subprime loans: SFGate
Bankruptcy and the Chicago Way: Gad-fly
Silver Leads Gold As Dollar Teeters: Freebuck

Enough corrosion and corruption!: Kudlow
Root Cause of Public Pension Fund Problems?: Riehl
The hidden tax, visualized: TigerHawk

World

Busting Israel's Chops: Behind Blue Lines
What does America want?: International News of Pakistan (Saleem)
Nazis planned a Fourth Reich in the EU: Daily Mail (UK)

Karma happens, Mr. President: Morrissey
'Hamas will never accept Israel': TAB

Media

Background briefings irk White House press: Calderone
FCC attack on talk radio begins: WND
Showing Pelosi Some Love: JWF

Love affair between media and Obama continues: Times
“I’m Barack Obama. Most of you covered me. All of you voted for me.”: New Bankrupt Times
Beck interviews former ACORN employees: Ace

Culture

Bollywood's Best: Economic Times of India
Priceless 2: Fausta

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“Terrible” Treasury Auction Undermines Obama's Economic Plans: Heritage:

The U.S. Treasury auction of long-term bonds on Thursday was “terrible”, in the words of one Wall Street economist, with the rate on the 30 year bond jumping from 4.1 to 4.3 percent. This is just the first sign that the debt-based Obama economic stimulus plan is about to become a major drag on the recovery...

...There are two critical consequences to the economy stabilizing. The first is that the massive liquidity injected into credit markets by the Federal Reserve and central banks around the world transforms from economic medicine to inflationary heroin. Central banks are going to face a difficult task of extracting the excess liquidity before inflation soars and without causing another recession. Doubt about the fight against soaring inflation means higher inflation premiums in interest rates.

The second dangerous consequence is that President Obama is on course to double the national debt in just four years. After years of complaining about annual deficits of $300 billion or $400 billion and their effects on interest rates, liberal commentators are suddenly silent now that the deficit is heading toward $2 trillion under a liberal administration. But now the vaunted “crowding out” effect from government borrowing is almost a certainty, as are the resulting higher interest rates...