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12:50 PM ET, August 5, 2011


 Top Items: 
Paul Krugman / New York Times:
The Wrong Worries  —  In case you had any doubts, Thursday's more than 500-point plunge in the Dow Jones industrial average and the drop in interest rates to near-record lows confirmed it: The economy isn't recovering, and Washington has been worrying about the wrong things.
Floyd Norris / New York Times:
Time to Say It: Double Dip Recession May Be Happening  —  Double dip may be back.  —  It has been three decades since the United States suffered a recession that followed on the heels of the previous one.  But it could be happening again.  The unrelenting negative economic news of the past …
New York Times:
Wall Street Tumbles Despite Job Data  —  After a quick sigh of relief on better-than-expected jobs numbers, Wall Street moved lower Friday as fears continued to hang over markets that the United States and Europe were not doing enough to counter their economic problems.
Kevin Drum / Mother Jones:
The Story of the Economy
Discussion: TalkLeft and The New Republic
Wall Street Journal:
Behind a GOP Contender's Iowa Surge  —  MARION, Iowa—To understand why presidential candidate Michele Bachmann has surged in Iowa, watch when she is handed a baby.  On a recent stop here, she took off her bracelet, dangled it before the infant and cradled him while he teethed on the pearls.
Discussion: and
Michael O'Brien / The Hill:
Pawlenty's campaign betting turnaround begins at Ames
Christian Heinze / GOP 12:
Gingrich fatalistic on Ames straw poll
Discussion: Iowa Caucuses
Philip Rucker / Washington Post:
Some states' push for earlier GOP primaries creates chaos for Republican leaders
Discussion: The Note
RealClearPolitics Video Log:
John Kerry: Media Has “Responsibility” To “Not Give Equal Time” To Tea Party  —  Sen. John Kerry (D-MA) told MSNBC's “Morning Joe” on Friday that the media has the responsibility to not give equal time or credence to the Tea Party's views: SEN. JOHN KERRY: “And I have to tell you, I say this to you politely.
Lynn Sweet:
Obama's 50th Birthday bash: Stevie Wonder, Chris Rock, Tom Hanks, Whoopi Goldberg, Herbie Hancock, Jay Z  —  li> (Screen grab of Chris Rock's Twitter feed)  —  WASHINGTON—President Obama celebrated his 50th birthday Thursday night with a celebrity-filled bash, as entertainer Chris Rock reported …
Local News:
Click on the video link to see raw video of police and sheriff's deputies investigating the scene.  —  Did you witness the attacks outside State Fair, or were you attacked?  Were you hurt?  E-mail us your story!  —  WEST ALLIS - Witnesses tell Newsradio 620 WTMJ and TODAY'S TMJ4 of a mob …
Austan Goolsbee / White Blog:
The Employment Situation in July  —  Today's employment report shows that private sector payrolls increased by 154,000 in July and the unemployment rate ticked down to 9.1 percent.  The economy has added 2.4 million private sector jobs over the past 17 months, despite a slowdown in economic growth …
Joy Pullman / Washington Examiner:
Teachers union disavows internal memo endorsing deception of parents  —  American Federation of Teachers officials have disavowed an internal report after it was posted on the union's website following its annual conference, embedded on each of its 19 pages with the union's logo and signed by a union official.
Jeffrey Goldberg / The Atlantic Online:
Tzipi Livni Praises Obama for Pressuring Netanyahu, Suggests U.S. Should Keep Up the Heat  —  An interview with the leader of Israel's largest opposition party  —  Tzipi Livni, the leader of Israel's Kadima Party, the largest opposition party in the Knesset — and the largest party in the entire Knesset …
Discussion: Ben Smith's Blog
David Hearst / Guardian:
Could Arab staying power ultimately defeat Zionism? | David Hearst
Discussion: Harry's Place and normblog
Bob Willis / Bloomberg:
U.S. Payrolls Rose in July; Jobless Rate at 9.1%  —  Employers added more jobs than forecast in July, the jobless rate fell and wages climbed, easing concern the U.S. economy is grinding to a halt.  Stock futures rallied and Treasuries fell.  —  Payrolls rose by 117,000 workers …
Lucia Mutikani / Reuters:
July payrolls rise soothes recession fears
Shushannah Walshe / ABCNEWS:
$30 Million Pouring In to Influence Wisconsin Recall Elections  —  A voter in Glendale, Wis., casts a ballot in a Democratic primary on Thursday, July 12, 2011, as part of recall efforts against Republican state Sen. Alberta Darling.  Darling is one of six Republican state senators being targeted …
Discussion: USA Today and Outside the Beltway
Ezra Klein / Washington Post:
Isn't it time to admit our system is broken?  —  (HARRY HAMBURG/ASSOCIATED PRESS) My Bloomberg column today is about what happens when Congress can't agree to act.  The standard theory is that nothing happens.  Congress simply gridlocks.  It paralyzes.  The standard theory is wrong.
Thereisnospoon / Hullabaloo:
The Desert of the Surreal by David Atkins  —  The Desert of the Surreal  —  Conspiracy theorists like to believe that the world is governed by incredibly smart, masterfully competent manipulators who pull all the strings for their own benefit and watch the world dance to their tune.
John Detrixhe / Bloomberg:   Treasury Yields Evoke Eisenhower Era on Concern Global Economy Is Stalling
Jacob Weisberg / Slate Magazine:
Lessons of the Crisis  —  The debt-ceiling debacle revealed that politics is broken in every possible way and there's no point in explaining complicated matters to the American people.  —  It is hard to remember a more dismal moment in American politics.  The debt-ceiling crisis and the agreement …
Discussion: Hit & Run and AMERICAblog News
Claire Courchane / Washington Times:
Neb. mine find to challenge China's dominance of vital rare minerals  —  Elements coveted for high-tech uses  —  Elk Creek, Neb. (population 112), may not be so tiny much longer.  Reports suggest that the southeastern Nebraska hamlet may be sitting on the world's largest untapped deposit of …
Discussion: RedState and
Carol J. Williams / Los Angeles Times:
Potential jurors shouldn't be dismissed for being gay, court told  —  An appellate panel hears arguments in an assault case against a gay inmate in which a lesbian was dismissed during jury selection.  Defense lawyers want the panel to consider constitutional issues.
Discussion: ThinkProgress
New York Times:
Disapproval Rate for Congress at Record 82% After Debt Talks  —  The debate over raising the debt ceiling, which brought the nation to the brink of default, has sent disapproval of Congress to its highest level on record and left most Americans saying that creating jobs should now take priority …
Mitchel Maddux / New York Post:
‘Rent is Too Damn High’ candidate facing eviction from rent-controlled apartment  —  The man who ran for governor because the “Rent is Too Damn High” claims he's being kicked out of his Manhattan apartment — because the rent is too damn low!  —  Jimmy McMillan says he pays $872.96 …
Jennifer Epstein / Reuters:
IRS: 235,413 million-dollar earners  —  President Barack Obama and many Democrats are talking about raising taxes on the wealthy, and new data released this week by the Internal Revenue Service reveals new details about the number of Americans who fit that bill.
The Daily Beast:
The Death of Super Tuesday?  —  The venerable one-day delegate jackpot has been a mainstay of presidential primaries, but all that will change in 2012.  McKay Coppins on what it means for Palin, Romney, and Perry.  —  Pundits have hyped it.  Candidates have built entire campaigns around it.
Henry Blodget / Politics:
Here's The Problem With This Market Crash...  Well, it's deja vu all over again.  —  For anyone who followed the market crashes of 2000-2002 and 2007-2009—especially the crash of 2007-2009—the 512-point drop in the Dow feels awfully familiar.  —  And as those market crashes reminded us …
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 More Items: 
Robert Peston / BBC:
The origins of today's market mayhem
Discussion: Guardian
Hilary Gowins / Northwest Herald:
Walsh tries to clear air at town hall-style meeting
Discussion: The Hill
Wall Street Journal:
The One Airport to Avoid Is ...  40 of the 100 Most-Delayed Flights …
Virginia Postrel / Bloomberg:
About Virginia Postrel  —  Virginia Postrel writes about commerce …
Discussion: Hit & Run
Ronald Brownstein /
Towering Wave of Alienation Threatens Both GOP, Dems in 2012
Ambrose Evans-Pritchard / Telegraph:
The ECB throws Italy and Spain to the wolves
Discussion: Guardian and Decide America
 Earlier Items: 
The Huffington Post:
New York Attorney General Accuses Bank Of New York Mellon Of Fraud, Moves To Block Bank Of America's Mortgage Deal
Discussion: Washington Post and Firedoglake
Lisa Leff / The Huffington Post:
TSA Transgender Training At LAX
Discussion: AMERICAblog Gay
Clive Crook / The Atlantic Online:
Time for QE3, and Then Some  —  The global beating shares …
Discussion: Grasping Reality …
Michael Graham / Boston Herald:
Matt Damon's got a lot to learn
Discussion: Opinion L.A.
Roger L Simon / Pajamas Media:
Dow Down 500: Should Obama Resign?