HOPE AND CHANGE: Brazil and China eye plan to axe dollar. "Brazil and China will work towards using their own currencies in trade transactions rather than the US dollar, according to Brazil's central bank and aides to Luiz Inácio Lula da Silva, Brazil's president. The move follows recent Chinese challenges to the status of the dollar as the world's leading international currency." Quite an accomplishment — Obama has been president for just four months, and his legacy already seems secure. . .
THAT USED TO SOUND BETTER: Obama turning America into California.
STIMULUS! HOUSING STARTS FALL TO RECORD LOWS: "New U.S. housing starts and permits unexpectedly fell to record lows in April, a government report showed on Tuesday, denting hopes that stability in the housing market was imminent. The Commerce Department said housing starts fell 12.8 percent to a seasonally adjusted annual rate of 458,000 units, the lowest on records dating back to January 1959, from March's upwardly revised 525,000 units. . . . New building permits, which give a sense of future home construction, dropped 3.3 percent to 494,000 units, the lowest since records started in January 1960,"
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