WILLIAMS SAYS, “THE U.S.

ECONOMY REMAINS IN
AN ECONOMIC DEPRESSION, WHICH IS ABOUT TO
INTENSIFY ANEW. . .”

Housing Sales and Inflation Surge Greg Hunter USAWatchdog.com April

26, 2010 The big news in the economy last week was new home sales
jumped 27% in March. It was the best monthly increase percentage wise
since John F. Kennedy was in office. What the mainstream media did not
tell you was new housing starts jumped up from a very low level– like the
lowest level in history! This chart from shadowstats.com illustrates the
point: This is one of the many reasons why shadowstats.com founder,
John Williams, says the economy is “bottom bouncing.” That is exactly
what the chart shows. In early 2006, housing starts were more than 2
million–now they are just over a half million. Housing starts are down
around 75% from the peak. Does this look like a big turnaround to you?
Please do not get fooled into thinking we are on the brink of a real
recovery. Williams says, “THE U.S. ECONOMY REMAINS IN AN
ECONOMIC DEPRESSION, WHICH IS ABOUT TO INTENSIFY
ANEW. . .” On the inflation front, the Producer Price Index was also out last
week. The increase was dramatic. According to the latest
shadowstats.com report, “Year-to-year, March’s annual PPI inflation
rose to 6.0%, up from the 4.4% annual inflation reported for February.”
I talked to Williams, and he told me this jump in PPI was, “close to 1970’s
price increases.” The 70’s gave America some of the biggest inflation of
the last century. All the bailouts and money printing that has been going on
the last couple of years will be inflationary. Already, “real inflation” is
running at 9.5% according to shadowstats.com. We are going to see a
repeat of the 70’s, but this time around, inflation in the U.S. will be on
steroids. Eventually, we will see hyperinflation. So, a good place to store
some of your wealth will be gold and silver. Williams says, “The prices of
precious metals, particularly gold and silver, also tend to lead broad
consumer inflation, reflecting inflationary expectations in addition to
acting as safe-havens against political and financial market
uncertainties.” If you are going to be a buyer in this market, physical gold
or silver coins should be your core investment. You can expect big price
volatility, but long term, both of these metals will go up substantially. Which
is better to invest in? Famed investor Jim Sinclair likes gold. After all,
central banks vault gold for themselves. But Mike Maloney of
goldsilver.com likes silver better. Maloney is forecasting silver prices will
jump much higher in the coming years (on a percentage basis) than the
yellow metal. In a recent Bloomberg interview, Maloney said, “For the first
time in human history, silver is more rare than gold.” You can watch
the complete Bloomberg interview with Mr. Maloney below:Please do not
get fooled into thinking we are on the brink of a real recovery. Williams
 says, “The U.S. economy remains in an economic depression, which is
about to intensify anew. . .”

Why Rising Bullishness Could Derail Stocks The Sickening Abuse Of

Power At The Heart Of Wall Street

Lonely Bears and the Successful Bubble Goldman (no, not that goldman)
‘…I find it difficult to own financials when all they appear to do is to lever
up 2-year notes. i can do that myself without paying a trading floor big
bonuses to do that for me. Banks aren’t making money lending with their
loan books down by 20% (the last reporting week for big commercial banks
showed a tiny uptick — hardly a trend); they are reporting huge “fixed
income trading” profits. That comes from two sources; 1) tightening of
spread assets to the best levels in history in the case of mortgages and
extremely tight levels in the case of corporates, and 2) a huge amount of
carry-trade leverage in Treasuries. What do you do for an encore?
Investors appear to expect lending to go back to normal. I am not so sure.
In other words, the expansion of the federal balance sheet has generated a
huge volume of paper profits. The Federal Reserve banks show an increase
in their profits from an annual rate of $38 billion in 2007 to $68 billion in
2009, no surprise, given that they expanded their balance sheets
massively. In any event, with the discount rate on equities near zero at the
front end and very low at the long end of the curve, any positive level of
profits can produce very high valuations indeed. There are pockets of
innovation, for example the always-inventive toy factory at Apple. RCA
stock rose all through the Great Depression. Manufacturing has benefitted
from a one-time increase in productivity, that is, shedding all the less
profitable operations possible. Exports were still down on a year-on-year
basis during the fourth quarter and flattened out during the first two
months of 2010. Domestic demand has bounced off the bottom, but it’s
dicey to count on US consumers to dig into their nest egg for big-ticket
items. Too much of the profit snapback has been pure bubble. I’m still
investing in Asian raw materials and suchlike, close to the actual source of
growth. But I just can’t bring myself to trust the US market.’

U.S. ECONOMIC DATA JUST ISN'T BULLISH Bullish commentators are

grossly distorting recent US economic data to support their case that the
US economy is in some sort of V-shaped recovery. The reality is that the
economy is still largely flat on its back and facing at best a slow recovery,
and at worst a second downturn as global deleveraging becomes essential
to halt the rise in government debt. Take the Bloomberg headline on orders
for durable goods last week. It trumpeted the 2.8 per cent rise in bookings
excluding cars and aircraft as the ‘best result in four years’.
CARS AND PLANES CRASH
Fine, except that when you include those not inconsiderable items –
automobiles and planes – then total orders actually dropped by a
completely unexpected 1.3 per cent due mainly to a 67 per cent crash in
commercial aircraft orders. Now the same distortion also applied to the US
new homes data. The headlines focused on the one-month 27 per cent
jump in March to an annualized 411,000 homes. Great except that this
bounce came off the all-time record low of 324,000 in February, and was
supported not only by better weather but by the $8,000 tax break that
expires at the end of this month. So you might argue that US new home
sales touched their pitifully low bottom in February, the worst figure in
more than 60 years. But this is still a terribly depressed level for one of the
motors of the US economy. And to try to claim that a V-shaped recovery is
expected from one month’s data is just bullish nonsense and cannot be
done. If the bulls are sinking this low to prove their case what does that tell
us? It surely signals that the rally in stocks is well, well overdone and due
for a correction. What would it take now to stop this thundering herd?
HERD MENTALITY
The pictorial analogy is surely the herd of buffalo heading towards the
edge of the cliff – perhaps being corralled by Indian hunters. They would
now be the market professionals who can go short at the touch of a button.
What does it take to push this lot over the edge? Not usually very much.
Indeed, herds of buffalo will fall over the edge due to the weight of the
animals behind them. By rounding up the last bears and strays and driving
them into the bull camp Wall Street is setting us up for a huge market
reversal when it comes. The bullish argument is that it just has not
happened and so it never will. The bearish lesson from experience is that
the bulls are loudest just before the crash – although their arguments are
woefully misleading on any rational analysis like just now – and that what
has to obviously happen almost always does. Only if you exclude US
automobile, aircraft and house sales can the current US economic date be
presented as positive. How bullish is that?

Senate probe: Goldman planned to profit from bust (AP) Goldman

executives cheered housing market's decline, newly released e-mails
show Washington Post - Zachary A. Goldfarb As the US housing market
started to slide, executives at the most legendary investment bank on
Wall Street, Goldman Sachs, were trading e-mails in which they cheered
the declines, even when those declines meant some of their ...
Goldman's Tourre Foresaw Subprime Chaos, Emails Show Wall Street
Journal Lloyd Blankfein. King of Wall Street defiant under seige The
Guardian Goldman Sachs prosecution boosts case for US financial
reform The Guardian Goldman Execs Sold Shares After Fraud Notice:
Report ABC News Goldman e-mails show how crash turned into cash
(AP) E-mails Show Goldman Execs Boasting as Housing Meltdown
Unfolded Goldman Sachs’ top executives were aware that the company
made money by playing against the US housing market, according to
 internal e-mails released Saturday. Levin: Goldman has been
'misleading' (Politico) GOP blocks action on financial regulation bill;
the politics of ‘no’ except for war (crimes, among other crimes) and
defacto bankruptcy for nation (AP) Most back stricter financial
reform, advantage Obama About two-thirds of Americans support
stricter regulations on the way banks and other financial institutions
conduct their business, according to a new Washington Post-ABC
News poll. Democrats push bank controls; GOP delays action ‘…
And Reid mocked the Republicans' cohesion. "As far as I can tell, the
only thing Republicans stand for is standing together," he said.’

(4-26-10) Dow 11,205 +0 Nasdaq 2523 -7 S&P 500 1,212 -5 [CLOSE- OIL
$85.13 (-54% for year 2008) (RECORD TRADING HIGH $147.27) GAS
$2.85 (reg. gas in LAND OF FRUITS AND NUTS $3.11 REG./ $3.26 MID-
GRADE/ $3.35 PREM./ $3.08 DIESEL)/ GOLD $1,154 [video] Gold
Surges Stocks/Gold Comparison (+24% for year 2009) / SILVER $18.34
(+47% for year 2009) PLATINUM $1,745 (+56% for year 2009) /
DOLLAR= .74 EURO, 93 YEN, .64 POUND STERLING, ETC. (How low
can you go - LOWER)/ 10 YR NOTE YIELD 3.82% …..… AP Business
Highlights ...Yahoo Market Update... ] T. Rowe Price Weekly
Recap – Stocks / Bonds / Currencies - Domestic / International
MARKET MANIPULATION AND HOW THE LATEST BUBBLE-FRAUD
PRE-COMING CRASH IS BEING ACCOMPLISHED 3-11-10 6 Theories
On Why the Stock Market Has Rallied 3-9-10 [archived website file]
Risks Lurk for ETF Investors The bull market that never was/were
beyond wall street b.s. when measured in gold Property Values
Projected to Fall 12% in 2010 Jan 31, 2010 The Week Ahead: Risk
Is Off the Cliff; Unwind Has Begun Jan 31, 2010 01-13-10 Forecast for
2010 from Seeking Alpha Contributor THE COMING MARKET
CRASH / CORRECTION 1-28-10 Maierhofer (01-15-10) 11 Clear
Signs Economy Sinking Economic Black Hole 1-22-10: 20 Reasons
Why The U.S. Economy Is Dying And Is Simply Not Going To Recover
Current Economic / Fiscal Charts Trendsresearch.com forecast for
2009 1-7-10 Crash is coming! ‘WORST ECONOMIC COLLAPSE
EVER’ Must Read Economic / Financial Data This
Depression is just beginning The coming depression…
thecomingdepression.net MUST READ: JEREMY GRANTHAM’S
QUARTERLY UPDATE 25 January 2010 (850 on the S&P) by TPC The
Next Wave of Collapse is Coming Sooner than you think Sliding
Back Into the Great Recession ABSOLUTELY, ABSURDLY,
RIDICULOUS! SELL / TAKE PROFITS WHILE YOU CAN SINCE MUCH,
MUCH WORSE TO COME!

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 http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
http://www.albertpeia.com

http://www.albertpeia.com/alresume.htm

Geithner: 'I Never Had A Real Job'… sounds like a plan!... US prepares
to push for global capital rules FT | The US is preparing to push for a
tough new international capital regime after the weekend’s G20 and
International Monetary Fund meetings glossed over differences
between leading economies. Unemployment for Those Who Earn
$150,000 or More is Only 3%, While Unemployment for the Poor is 31%
Washington’s Blog | The study is subtitled “A Truly Great Depression
Among the Nation’s Low Income Workers Amidst Full Employment
Among the Most Affluent.” Bankers Said ‘Anything’ to Get High
Rating, S&P Ex-Analyst Says Bloomberg | On May 3, 2005, Standard &
Poor’s analyst Chui Ng e-mailed co-workers to broker a solution to
demands by Goldman Sachs bankers that he said violated two or
more of the ratings company’s internal guidelines. Housing Sales
and Inflation Surge Greg Hunter | Please do not get fooled into thinking
we are on the brink of a real recovery. Economists: The stimulus
didn’t help … just indebted the nation more_ Tent City In New
York Set Up In Hopes For Elevator Job... camped out for 3 days for
chance at getting an application

Pension Pains: States Cut Benefits to Skirt Massive Funding Shortfall

Illinois recently cut benefits and raised retirement ages for public
employees in order to cover a $78 billion shortfall in its public pension
fund.
GM Used Bailout Money to Repay Loan Fox News | A top Senate Republican
on Thursday accused the Obama administration of misleading
taxpayers about General Motors’ loan repayment.

For nations living the good life, the party’s over, IMF says In the lingo of
the International Monetary Fund, the future of the world hinges on
“rebalancing and consolidation,” antiseptic words that would not
seem to raise a fuss. Facebook Steps Up Lobbying, Deepens Ties
with Intelligence Agencies, FTC Facebook is a CIA cutout that’s
frantically lobbying for privacy legislation to remain lax so that it can
continue to run its various intelligence operations on the platform.
18 veterans kill themselves every day: report The suicide rate among
war veterans is extraordinary, new data reveals.

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http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
http://www.albertpeia.com
http://www.albertpeia.com/alresume.htm

Launch of secret US space ship masks even more secret launch of new
weapon Somewhere above earth is America’s latest spaceship, a 30ft
craft so classified that the Pentagon will not divulge its mission nor
how much it cost to build.

Stephen Hawking: Aliens exist but don't talk to them -- it's too dangerous
… might not like us… Oh pshaw! … Human nature, man’s inhumanity
to man? What’s not to like? Such humble beginnings and evolutionary
history … Besides, not to worry. With their advanced technologies
that defy human understanding, they already know you’re here…to
stay. So, not to worry. After all, as we know from that documentary of
that same name, ‘Earth Girls Are Easy’ … and then there’s
photosynthesis in a very big way also going for it! ...

We Are Change Booted Out of California Tea Party Event Kurt Nimmo |
Establishment Tea Party pulls Republican tactic of denying First
Amendment to ideological opponents. Blackmail: How The
Controlling Elite Owns Politicians Lindsey Graham homosexual
controversy underscores why government is broken. Homosexual
rumors surrounding Senator Lindsey Graham underscore the core
reason why the vast majority of Congress members habitually support
legislation that is anathema to the interests of the people they are
supposed to represent, because politicians rarely achieve positions of
influence without being beholden to one form of blackmail or another.
Lawmakers Call for Troops on the Streets of Chicago Kurt Nimmo |
Restoring the Second Amendment to Chicago would go a long way to
reducing violent crime in the city. Obama Debt Czar Says Tax Hikes
“On The Table” President’s promise that families who earned less
than $250,000 a year would not be hit set to be shattered.

Global Bank Conspiracy RTAmerica | What is being proposed, and has been
falling into place for some time, is the framework for an unelected
global authority with powers above and beyond those of sovereign
governments. Senator Graham’s Gay Scandal Goes National and
 Viral ALIPAC | ALIPAC’s William Gheen called on Senator Graham to
be honest about his homosexual lifestyle to assure that Graham’s
desire to keep it a secret could no longer be used by political insiders
to manipulate his behavior. Arizona Gov. Signs Illegal Immigration
Bill Infowars.com | Soaking Arizona’s tax payers apparently does not
fit in Obama’s “basic notions of fairness.” $338.3 Billion Paid to
Service America’s Illegal Aliens Warner Todd Huston | Free schools,
free medial care, free Medicaid, free food, free social services, it’s a
veritable cornucopia of freebies streaming out of our various
government’s coffers to these people who broke our laws to get here
and are breaking our laws to stay. Gerald Celente: Financial
Reform Is Just a Show Bullsource | Trends forecaster Gerald Celente
gives his analysis on Wall Street regulation, including problems with
the finance reform bill. Iran Sanctions an Act of War Ron Paul | We
need to see all this for what it is: Propaganda to speed us to war
against Iran for the benefit of special interests. Saboteurs hit Iraq’s
northern oil pipeline, halting exports Oil and Gas Journal | Iraqi oil
exports have been cut due to sabotage along the northern pipeline
system, according to officials who say repairs could take up to a
week. String of bombs in Iraq follows leadership losses for
insurgency Dallas Morning News | A series of bombings struck mainly
Shiite areas of Baghdad and a western province on Friday, killing at
least 69 people and demonstrating a resilient insurgency after the
recent killing or capture of several militant leaders.

The McVeigh Tapes: A Fairy Tale Designed to Demonize the Patriot

Movement Kurt Nimmo | MSNBC’s “documentary” is remarkable for its
omissions.

BAD APPLES: Spitzer on Cuomo: He's Driven, Often by Politics... Spitzer

(he did appoint mob-man cuomo) on mob-connected cuomo: He’s
Driven, Often by Politics … Come on! Call a spade a spade. Cuomo like
father are owned by the mob … nolle pros the wops, the story of mob-
man cuomo’s prosecutorial life – you won’t see him bringing cases
against ny’s pervasive mob families / crimes … Mr. Spitzer spoke in
some detail about the private confrontation between the two men after
an investigation in 2007 by Mr. Cuomo found that the Spitzer
administration had improperly used state troopers to gather
 information about travels on state aircraft by the Senate majority leader,
Joseph L. Bruno. That clash is also described in a new book, “Rough
Justice: The Rise and Fall of Eliot Spitzer,” by Peter Elkind. Mr. Spitzer
suggested that Mr. Cuomo gave Mr. Bruno a pass. “Andrew wrote a
report that was designed to entirely whitewash one side of it, and tee
up the other side as a major issue,” Mr. Spitzer said. “And he lost all
sense of both proportion, and I think it was driven by politics.” After Mr.
Spitzer’s aides began to challenge Mr. Cuomo’s conclusions, Mr.
Spitzer said, Mr. Cuomo threatened to reopen the investigation if the
governor’s staff criticized him — a threat that Mr. Spitzer called
extortion and that Mr. Cuomo has denied. Mr. Spitzer made his
reputation as an innovative and zealous (some would say overzealous)
pursuer of Wall Street wrongdoing. He faulted his successor for
dropping one of his signature cases: the lawsuit seeking repayment of
some of the $140 million in compensation awarded to Richard A.
Grasso …

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http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
http://www.albertpeia.com

http://www.albertpeia.com/alresume.htm

Stephen Hawking: Aliens exist but don't talk to them -- it's too dangerous
… might not like us… Oh pshaw! … Human nature, man’s inhumanity
to man? What’s not to like? Such humble beginnings and evolutionary
history … Besides, not to worry. With their advanced technologies
that defy human understanding, they already know you’re here…to
stay. So, not to worry. After all, as we know from that documentary of
that same name, ‘Earth Girls Are Easy’ … and then there’s
photosynthesis in a very big way also going for it! ...

China’s Population Control Program to Begin Sterilization Sky News |

Health authorities are planning to sterilise nearly 10,000 people in
southern China over the next four days as part of a population control
program.

Editorial: Greek woes Although the International Monetary Fund and the EU
are upping their support for the struggling Greek economy, there is a
clear lack of confidence that the Athens government is capable of
instituting the expenditure cutbacks and revenue boosts essential to
stop the country’s finances spiraling out of control. Greece hit by
new riots as pressure grows to quit euro Support for the bail-out of
debt-ridden Greece was in doubt last night, leaving the country on the
 brink of financial meltdown as top German politicians said it should
be forced to quit the euro.

Sadr rallies followers to defend mosques BAGHDAD: An influential anti-

American Shiite cleric called on his followers to defend themselves
and places of worship after deadly Baghdad mosque bombings but
urged self-restraint to avoid giving the US military an excuse for
postponing withdrawal plans.

UK ordered to pay $650 mn to Iran An arbitration court in The Hague has

ordered the British government to refund $650 million to Iran over an
outstanding 1970s arms deal.

Guantanamo and Habeas Corpus: Judge Rules Yemeni’s Detention Based

Solely on Torture These accounts, sadly, fit a pattern of torture and
false confessions that only becomes clearer as time passes and more
evidence is revealed, and they also confirm that the two men
described above were amongst the 94 prisoners — many still
unaccounted for — who were held in secret CIA prisons and subjected
to particularly brutal treatment.

All in the name of Zionism israel is a zionist state (and not a secular
democratic state as often foisted off on the american if not world for
public consumption). Everybody knows that. There is no (jewish)
politician in Israel who misses an opportunity to repeat this. Last
week, when we celebrated the 62nd Independence Day, we were
flooded by a deluge of patriotic speeches. Each of the Ciceros,
without exception, declared his total commitment to zionism. By the
way, when it comes to the zionist character of israel, there is complete
agreement on this between the leaders of israel and their enemies.

Palestinian freedom fighter killed in israeli raid HEBRON, West Bank:

A freedom fighter was killed on Monday when israeli troops raided the
home of one of his relatives in the occupied West Bank, Palestinian
security officials and the Israeli military said.

Abbas urges Obama to 'impose' peace deal RAMALLAH, West Bank:

Palestinian President Mahmoud Abbas urged US President Barack
Obama on Saturday to impose a Mideast peace deal, signaling the
Palestinians' growing frustration after nearly two decades of failed
negotiations with israel.

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http://www.albertpeia.com/wallstreetlunacy2ndqtr10108.htm
http://www.albertpeia.com
http://www.albertpeia.com/alresume.htm

BUDGET CRISIS PUTS LOS ANGELES COURT SYSTEM AT RISK ...

ABOLISH THE CORRUPT, ECONOMICALLY WASTEFUL SO-CALLED
SYSTEM, FROM MY DIRECT OBSERVATION AND EXPERIENCE .
(PREVIOUSLY ARCHIVED) HOWEVER, THIS LATEST
"CALIFORNIA/LA DISTRACTION" REQUIRES ELUCIDATION AS
FOLLOWS:

Response to App. Div. OSC

STATE OF CALIFORNIA ethics complaint
Response to Sup.Ct. OSC
designation of record on appeal
The so-called "order" appealed from.
How embarrassing for the superior court of the state of california!
Typical corrupt banana republic america/california court

Dirty money digitally laundered … a wall street, atlantic city, and american
story … a very bad one and [also see RICO case ] Fraud: It’s
Much Bigger Than Goldman Sachs Regulatory reform debate
obscures key fact: Everybody’s getting money bribes from Wall Street
Blagojevich calls feds 'cowards and liars'…[Yes. This is a rare moment for
one to say that a sleazy hypocrite like blago, who is on corrupt
federale-connected mobster trump’s celebrity apprentice, happens to
be correct based upon facts / reality and my own direct observation
and experience and the law – Don’t forget to include corrupt federal
judges as maryanne trump barry, sam alito, shiff, matz, hall, underhill,
dorsey, etc.. Defacto bankrupt america’s so-called system is
pervasively corrupt and broken] (AP) [see RICO case ]

DRUDGEREPORT: Geithner: 'I Never Had A Real Job'… sounds like a

plan!...
Tent City In New York Set Up In Hopes For Elevator Job... camped
out for 3 days for chance at getting an application
GOLDMAN BOSS VISITED WHITE HOUSE AT LEAST 4 TIMES...
Stocks Rise as Banks GAIN after Obama speech...
Republicans Block Start of Debate on 'Bailout' Bill...
Arizona illegal immigration bill becomes law...
READY TO ARREST...
Stephen Hawking: Aliens exist but don't talk to them -- it's too
dangerous … might not like us… Oh pshaw! … Human nature, man’s
inhumanity to man? What’s not to like? Such humble beginnings and
evolutionary history … Besides, not to worry. With their advanced
 technologies that defy human understanding, they already know
you’re here…to stay. So, not to worry. After all, as we know from that
documentary of that same name, ‘Earth Girls Are Easy’ … and then
there’s photosynthesis in a very big way also going for it! ...
Obama Vows Overhaul...
Dems may rush immigration reform effort in Congress...
POLL: 70% of AZ voters favor new law cracking down on illegals...
Hispanics fear profiling...
Small Riot Breaks Out in Phoenix...
White man 'stabbed and beaten to death by his black neighbor'...
Chomsky Warns of Rise of the 'Far Right' in USA...
Faber: Governments Will 'Bankrupt Us'...
GOV'T AT WORK: SEC STAFF SURFED PORN FOR HOURS...
FRAUD! ON TAXPAYER COMPUTERS...
FLASHBACK: Porn surfing rampant at U.S. science foundation...
BLAGO MOVES TO SUBPOEANA OBAMA!
Redactions revealed: Six secrets from supboena request...
Budget crisis puts Los Angeles court system at risk… abolish the
corrupt, economically wasteful so-called court system, from my direct
observation and experience .
Food costs jump most in 26 years...
Greek debt crisis gets worse as EU revises figures... STRIKE
TAKE VAT! VALUE ADDED TAX FOR USA
Obama's GOLDMAN Money Draws Scrutiny...
WILL HE RETURN $994,795 IN CAMPAIGN CONTRIBUTIONS?
Reid dodges questions on Goldman $$$...
EVEN OBAMA'S NEW $100 BILL LOOKS EUROPEAN...
Might as Well Be a Euro...
German troops in Afghanistan call on Merkel to explain why they're at
war...
BIDEN RIPS WALL ST 'GREED'...
GOP DEMANDS RECORDS OF SEC CONTACTS WITH WHITE HOUSE,
DNC, NYT
PAPER: America's disastrous debt is Obama's biggest test...

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