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Rick Perry has raised $102 million as Texas governor over the last 10 years, and $37 million of that comes from just 150 individuals and couples—nearly half of whom have enjoyed business contracts, appointments, or tax breaks under Perry. A Los Angeles Times analysis found dozens of examples, from…

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Rembrandt Drawing Worth $250,000 Stolen from California Hotel

In July, it was a Picasso drawing that went on the lam. This month’s pièce de résistance? A Rembrandt. During an exhibition at the Ritz-Carlton in Marina del Rey, Calif. on Saturday, a drawing by Dutch artist Rembrandt van Rijn disappeared. A curator was holding a private exhibit Saturday night where the drawing, titled “The

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Rick Perry attacks Ben Bernanke’s ‘treasonous’ Federal Reserve strategy

Texas governor’s attempt to assert hawkish credentials draws criticism from moderate Republicans and White House The Texas governor, Rick Perry, has staked out his challenge for the Republican presidential nomination as a hawk on economic policy by characterising the strategy of the Federal Reserve chairman, Ben Bernanke, as “treasonous”. Perry swiftly emerged as a leading contender for the Republican nomination after announcing his intention to run for president on Saturday , in part because he is governor of a state that has ridden the economic downturn better than most and has seen more jobs created than any other. He has won favour with the Tea Party movement and among other fiscal conservatives with his strong opposition to Barack Obama’s stimulus strategy. Addressing a political rally in Iowa on Monday, the Texas governor attacked suggestions by Bernanke that with the economy again struggling the Federal Reserve may resort to another round of buying trillions of dollars of bonds, known as quantitative easing. Perry said that would amount to little more than an attempt to buy support at next year’s election, at a huge cost to the country. “If this guy prints more money between now and the election, I dunno what y’all would do to him in Iowa but we would treat him pretty ugly down in Texas. Printing more money to play politics at this particular time in American history is almost treasonous – or treasonous in my opinion,” said Perry. He went on to accuse Obama of an economic strategy that endangered America. “I think the greatest threat to our country right now is this president trying to spend his way out of this debt,” he said. The White House denounced the remarks, saying presidential candidates should not try to interfere with Federal Reserve policy. “When you are president or running for president, you have to think about your words,” spokesman Jay Carney said during an Iowa stop of Obama’s three-day jobs bus tour. “The Fed’s independence is important.” Perry’s remarks were also condemned by some moderate Republicansm, who noted that Bernanke was appointed by Obama’s predecessor, George Bush. But attacks on the president’s stimulus strategy play well with many on the right as the Texas governor seeks to mark out distinctions with the other leading Republican candidates: the more mainstream Mitt Romney and the Tea Party supporter Michele Bachmann. Perry is constructing his bid for the presidency around what he portrays as his successful economic strategy in Texas of minimising government and promoting business ,which helped the state weather the worst of the recession and has seen it create nearly 40% of all new jobs in the US over the past two years. Critics say Perry has merely been lucky because Texas was shielded from the worst of the depression by an oil-based economy, when petroleum prices were at an all time high. They also say that whatever strategy Perry has pursued in Texas is not new to the state and cannot be applied to the country as a whole. But that did not stop Perry from contrasting his record as governor with Romney, the former governor of Massachusetts. “Take a look at his record when he was governor. Take a look at my record,” Perry said as he visited the Iowa state fair. “Running a state is different than running a business.” At one point Perry appeared to suggest he did not take Romney seriously as a candidate by blowing kisses at a camera and saying: “Give him my love.” Romney has sought to fend off the challenge from Perry by noting that he has no experience in the private sector. The Texas governor has held an elected office continuously since 1984, which critics say makes a mockery of his claim to be an outsider standing up to the political system. Romney said: “You know, I can tell you that I think my jobs record spans not just four years as governor, but also the 25 years that I’ve lived in the private sector. I think understanding how the economy works by having worked in the real economy is finally essential in the White House, and I hope people recognise that.” Perry’s past is also coming under scrutiny over his support for Al Gore’s 1988 challenge for the presidency. Perry was a Democrat at the time and Gore’s campaign chairman in Texas. That support is raising questions about Perry’s professed rejection of climate change theories, the issue Gore has embraced since leaving office but which is viewed by many on the right as a hoax. In a radio interview on Monday, Perry said that he backed Gore before he “got to be Mr Global Warming”. However, Politico reports that global warming was already an important issue for Gore at the time Perry was backing him. Gore made climate change a theme of his presidential run as early as April 1987. Rick Perry Republican presidential nomination 2012 Republicans US elections 2012 Mitt Romney Quantitative easing US politics United States Economics US economy Chris McGreal guardian.co.uk

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Eurozone slowdown adds to debt crisis headaches

Angela Merkel and Nicolas Sarkozy are under pressure to come up with a structural answer to the euro’s problems rather than a stopgap solution First Britain, then the United States and now the eurozone. The message from the recent data is unambiguous: the big economies of the west slowed down to little more than stall speed in the spring of 2011. Tuesday’s data for the bloc of 17 countries that are part of monetary union was worrying for a number of reasons. Some slowdown in activity had been on the cards given the strength of output growth in the first quarter of the year, but the nugatory 0.2% increase in gross domestic product was far weaker than expected . More troubling perhaps was the evidence that the slowdown on the fringes of the single currency has now burrowed its way to the core of the eurozone. France had already announced that its economy was flat in the second quarter ; on Tuesday, Germany and the Netherlands said they had each registered expansion of just 0.1%. This matters for Greece, Ireland, Portugal, Spain and Italy because the only way they can hope to make up the growth shortfall from domestic austerity is by exporting to the rich countries at the heart of monetary union. If that proves impossible, as Tuesday’s figures suggest it might, that will put additional strain on the countries on the periphery, making further expensive bailouts more likely and increasing the chances of a break-up of the single currency. It is not hard to find explanations for the slowdown in the eurozone. As in Britain and America, consumers are being squeezed hard by rising energy and food prices; there have been supply problems for industry caused by the Japanese tsunami; and there has clearly been a loss of both consumer and business confidence caused by the inability of Europe’s leaders to get on top of the sovereign debt crisis. In the light of this, the European Central Bank’s decision to raise interest rates twice during the second quarter looks premature, if not downright stupid. With the eurozone’s economy barely growing and the single currency fighting for its very existence, any further increases in borrowing costs now look extremely remote. Politically, Tuesday’s data will no doubt add a bit of spice to the summit meeting between Angela Merkel and Nicolas Sarkozy. The German and French leaders are now under increasing pressure to come up with a structural answer to the euro’s problems rather than – as has been the case all too often in the past – a stopgap solution. George Osborne repeated his call for greater fiscal integration in the eurozone in his exchange of letters with Sir Mervyn King about UK inflation , but the chancellor’s advice is unlikely to be heeded unless the debt crisis gets a lot worse. On the basis of this data, there is a good chance that it will. European debt crisis Europe Germany Europe Larry Elliott guardian.co.uk

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Along with Michele Bachmann, Ron Paul dominated the Ames straw poll—so why is he never mentioned by members of the media whenever they talk about the “top tier” of the race? Heck, even Rick Santorum and Jon Huntsman get mentioned before Ron Paul—and in the straw poll, lest…

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Police: La. Man Decapitated Disabled Son, 7

A man in Louisiana is accused of bludgeoning, decapitating and dismembering his disabled 7-year-old son and leaving the boy’s head near the street so the child’s mother would see it, a killing that brought seasoned police officers to tears. (Aug. 16)

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Today’s financial word of the day: Germany. All eyes are on Angela Merkel’s 10am ET talks with Nicolas Sarkozy, as the pair meets to weigh additional moves that could bolster investor confidence in the euro zone. That task will no doubt be a bit tougher following today’s report that German…

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10 Things We Shouldn’t Be Frying (SLIDESHOW)

If Michele and Marcus Bachmann’s hilarious corn dog photos reminded us of anything, it’s that you can make all kinds of bad choices at the state fair. Sure, we all think, “It’s just once a year, it’s ok if I eat 18 pounds of fried dough,” but it’s gotten out of control. It seems there’s nothing our state fair food purveyors won’t fry. So, in an attempt to curb this deep fried onslaught, here are 10 things we think everyone should stop frying right now. If you disagree or have others, let us know.

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New York Times White House correspondent Jackie Calmes’s 1,300-word story for the Saturday Business section, with the online headline “ G.O.P. on Defensive as Analysts Question Party’s Fiscal Policy ,” was so blatantly biased it caught the attention of neo-liberal Mickey Kaus, who posted a withering, entertaining analysis at The Daily Caller , revisiting his old theme of liberal cocooning among the Times and its readership.

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