The gathering revolt against government spending

This just in from Michael Barone. Perhaps the country will wake up soon!

This month three members of Congress have been beaten in their bids for re-election -- a Republican senator from Utah, a Democratic congressman from West Virginia and a Republican-turned-Democrat senator from Pennsylvania. Their records and their curricula vitae are different. But they all have one thing in common: They are members of an Appropriations Committee.

Emergency fund to quarantine euro

JAMES G.NEUGER AND GREGORY VISCUSI

May 9, 2010

BRUSSELS: European leaders have agreed to set up an emergency fund to halt the spread of Greece's fiscal woes, seeking to prevent a sovereign debt crisis from shattering confidence in the 11-year-old euro.
Jolted into action by the sliding currency and soaring bond yields in Portugal and Spain, leaders of the 16 euro countries said the workings of the financial backstop would be hammered out before the markets opened tomorrow.

The Calm Before the Coming Sovereign Debt Storm

by Martin D. Weiss

If I’ve learned anything in the 39 years since I founded Weiss Research, it’s this: I can only help those who are ready to help themselves.

I’ve seen it happen so many times and it never ceases to concern me deeply:
Our research reveals a crisis on the horizon — something with the power to wipe out millions of portfolios and retirement plans. 
We shout our warnings from the rooftops over many

UPDATE:Asian Shares Tumble; Europe Debt Concerns Spur Sell off

By Colin Ng and Leslie Shaffer

Of DOW JONES NEWSWIRES

SINGAPORE (Dow Jones)--Asian equity markets tumbled Friday, dragged by sharp losses in Wall Street Thursday as heightened concerns over European sovereign debt hurt demand. Resources stocks were hit hard as a spike in risk aversion and renewed strength in the U.S. dollar dented commodities.