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he apparent victory by Republicans in the debt ceiling debate will now give the GOP "ownership" of the economy. That's another victory for Obama because the economic outlook right now looks very, very bleak. In short, this was a great victory for the electoral prospects of Obama - even if it was a loss for the prospects of progressive political achievements.

"The true inflation rate in America? It's certainly at least 6 or 7 percent, the US government lies about it, as you know, everybody who shops knows that prices are up, everybody except the US government. Rogers repeated his view that the Fed's quantitative easing program is "debasing the currency" and said he was "extremely worried" about the fate of the dollar over the long term. Asia is the region where investors should go, as countries in that region have strong reserves while once-strong economies such as the US and the UK are now in debt, he said.

Treasury lied to public about health of big banks last October + may have unfairly distributed TARP funds, says Report from Neil M. Barofsky, special inspector general for the Troubled Asset Relief Program: http://bit.ly/JeUBZ (NYTimes.com)