Congress Takes Vigorous Steps to Look Like it’s Planning to Reduce Deficit

Erskine Bowles, President of UNC, and former Wyoming Senator, Alan Simpson, the co-chairmen of President Obama’s National Commission on Fiscal Responsibility and Reform, are getting political leaders caught up with the obvious reality of the US' precarious financial state… that the budget deficit is quickly hurtling the nation toward a debt crisis not unlike Greece, but on a much larger scale.

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Dropping Like a Rock… the US Continues to Lose its Competitive Edge

Thanks to the government’s meddlesome ways, the US has again fallen on the World Economic Forum’s ranking of global competitiveness. Historically, the US was reliably ranked number one, but in 2009 it gave up the lead position to Switzerland.

For 2010, America’s slipped again… and this time it’s fallen two slots. The US stayed below Switzerland — which retained its top ranking from last year — but, newly fell behind Sweden and Singapore in that order… no longer even clinching the proverbial bronze medal.

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The Patent Office Could be to Blame for a US “Innovation Crisis�

Pat Choate, author of “Saving Capitalism From The Capitalists” and “Dangerous Business: The Risks of Globalization for America,” appears on Yahoo’s tech ticker to describe what he sees as America’s innovation crisis, a problem stemming from the massive backlog at the US Patent Office.

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Startling Increase in UK Food Price Inflation

Because of rapidly rising commodity costs the UK has experienced its quickest rate of food price inflation this year during the month of August, according to the British Real Consortium. In particular, wheat and sugar are two key ingredients behind steeply increasing expenses for food makers.

According to Bloomberg:

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Labor Day is Over… Until Further Notice

Although first observed by a New York City union in 1882, Labor Day didn’t become an actual federal holiday until 1894. That's when President Grover Cleveland sought to make good with the average working stiff just six days after the tragically violent Pullman Strike.

Even counting from its later official inception, Labor Day remains a potent 116-year tradition that honors the importance of American workers in providing the backbone of the nation's economy. Today, though — with so many goods purchased in America produced abroad — perhaps it would make more sense to celebrate elsewhere.

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“Obvious� US Bonds Junk… Considering Key Ratios, Future Outlook

It's the burning question that can't be denied — do US bonds make sense with the current triple-A rating and low yield? Or, is “quite obvious” they instead deserve a junk rating? Of course, China-based Dagong Credit Rating Agency has already argued vehemently the US should have a lower rating, in particular lower than China. A recent contribution from Daryl G. Jones, managing director of investment research firm Hedgeye, offers another indication the lower-rating perspective is gaining traction here in the US.

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Green Mountain Coffee Roasters (NYSE:GMCR) — CFRA Roasts Vermont’s Green Mountain

Green Mountain Coffee Roasters Inc. (NYSE:GMCR), the Vermont-based specialty coffee and coffee maker company, last week received a fairly negative research opinion from the Center for Financial Research and Analysis. How it’s impacted the stock is the issue that Dan Amoss, Agora Financial's editor of the Strategic Short Report, has investigated.

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The Truth in Obama Oval Office Decor

Given the wide assortment of issues facing the nation — debt, deficit, war, and bloated government — it’s actually no surprise the media is aflutter over President Obama’s Oval Office makeover.

As charming and comfy as it may be, it’s still holding court to some of Washington”s biggest problems.

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Roubini: 2nd Half Looking Worse, Double Dip Over 40% Likely

Nouriel Roubini, or “Dr. Doom” as he’s also known, is a New York University professor and co-founder of Roubini Global Economics. As his nickname implies, his opinions tend to be on the gloomy side, and in this recent interview he describes “monetary policy as impotent” and estimates a GDP growth rate in this year’s second half of, well, just about zero percent.

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