A trader works on the floor of the New York Stock Exchange on Friday, Aug. 5, 2011 in New York. The stock market plummeted following the U.S. financial downgrade from AAA to AA+.
Credit Jin Lee / AP
Jonathan Cohn is a senior editor at The New Republic.
Did investors dump stocks on Monday because they'd lost faith in America's ability to pay its bills? Because they thought the federal government would cut spending further, slowing down the economy? Because they were adjusting to the latest news from Europe? The list of experts qualified to address those questions is long. And it does not include me.
President Barack Obama pauses as he speaks in the State Dining Room of the White House, Monday, Aug. 8, 2011, in Washington.
Credit Carolyn Kaster / AP
Fred Barnes is executive editor of The Weekly Standard.
President Obama's support for raising income taxes on high earners is more than a talking point. It's an obsession. In negotiations in July over a $4 trillion "grand bargain" on deficit reduction, the president proposed the tax hike as part of an agreement with Republicans. It was a clumsy mistake on his part, an unforced error. Rather than facilitate a deal, he helped kill it.
Diana Nyad delivers a speech at Ernest Hemingway Nautical Club, in Havana.
Credit Adalberto Roque / AFP/Getty Images
Half-way through what was scheduled to be a 60 hour swim, 61-year-old Diana Nyad had to abandon what she called her "Xtreme Dream" — a 103 mile swim from Cuba to Florida.
"It's over. She lasted 29 hours in an heroic attempt," said Elaine Lafferty, one of Nyad's crew members, on Twitter.
On the same Twitter account, her team said that earlier in the evening Nyad was in the water, "surrounded by dolphins and a beautiful Caribbean sunset." But, they explained, a strong wind "blew her 15mph off course."
An early rally proved short-lived as stocks in Asia and Europe sank again Tuesday. Justin Urquhart Stewart of Seven Investment Management talks to Renee Montagne about the continued slide of financial markets around the world.
Prime Minister David Cameron cut his vacation short and parliament was recalled as riots went into their third night in England. Last night, for the first time, the mayhem spread outside of London to Birmingham and Liverpool. The BBC reports that 450 people have been arrested.
Some Starbucks in New York have started blocking their electrical outlets. They want to set a time limit on customers with laptops. Starbucks offers WiFi access and some customers complain they can never find a seat because students, freelance workers and others sit there all day.
Sensei Keiko Fukuda of San Francisco has became the first woman to earn a 10th degree black belt in judo. She is 98 years old. Only three others have this martial arts' highest ranking: all men living in Japan.
Returning from Washington for the congressional recess, U.S. Sen. Rand Paul, R-Ky., has scheduled his first town hall meeting with constituents on Tuesday. The event will be held at City Hall in Hartford, Ky., 116 East Washington Street at 2 p.m. CDT. It is expected Paul will address the contentious debt ceiling debate that embroiled Congress for the past month and the deal that was reached a week ago, which the Tea Party favorite voted against.
This summer, three movies each it made over $1 billion worldwide. They were all sequels from major franchises: "Harry Potter," "Transformers" and "Pirates of the Caribbean." For the movie industry, generally, though, it's anything but high times. Attendance is down. DVD sales continued to drop sharply, and a high-profile project, the adaptation of Stephen King's "The Dark Tower," with big movie makers Ron Howard and Brian Grazer, was jettisoned by a studio, fearful of what it would cost.
Hiring for temporary positions for Kentucky’s 107th State Fair began on Monday. Around 850 people lined up to fill 275 positions. As WFPL reported, applications will be accepted up until the last day of the fair on Aug. 28.“Some people can only work a couple days a week. We need to hire more people who can work throughout the entire run of the fair,” said Amanda Storment with the Kentucky State Fair Board.