After all, the Japanese economy has been in a slump for over a decade, Japan has a debt to GDP ratio of well over 200 percent and they are spending about 50 percent of all tax revenue on debt service. In a desperate attempt to revitalize the economy and reduce the debt burden, the Bank of Japan decided a few months ago to start pumping massive amounts of money into the economy.

At first, it seemed to be working. Economic activity perked up and the Japanese stock market went on a tremendous run. Unfortunately, there is also a very significant downside to pumping your economy full of money. Investors start demanding higher returns on their money and interest rates go up.

But the Japanese government cannot afford higher interest rates. Without super low interest rates, Japanese government finances would totally collapse. In addition, higher interest rates in the private sector would make it much more difficult for the Japanese economy to expand. In essence, pretty much the last thing that Japan needs right now is significantly higher interest rates, but that is exactly what the policies of the Bank of Japan are going to produce.

There is a lot of fear in Japan right now. On Thursday, the Nikkei plunged 7.3 percent. That was the largest single day decline in more than two years. Then on Monday the index fell by another 3.2 percent. Are we witnessing the beginning of a colossal financial meltdown by the third largest economy on the planet? The Bank of Japan is starting to lose control, and if Japan goes down hard the crisis could spread to Europe and North America very rapidly.

Citing a report prepared for the Defense Department by the Defense Science Board, the Washington Post said the compromised US designs included those for combat aircraft and ships, as well as missile defenses vital for Europe, Asia and the Gulf. Among the weapons listed in the report were the advanced Patriot missile system, the Navy's Aegis ballistic missile defense systems, the F/A-18 fighter jet, the V-22 Osprey, the Black Hawk helicopter and the F-35 Joint Strike Fighter.

The report did not specify the extent or time of the cyber-thefts or indicate if they involved computer networks of the US government, contractors or subcontractors. But the espionage would give China knowledge that could be exploited in a conflict, such as the ability to knock out communications and corrupting data, the Post said. It also could speed China's development of its defense technology.

In a report to Congress this month, the Pentagon said China was using espionage to modernize its military and its hacking was a serious concern. It said the US government had been the target of hacking that appeared to be "attributable directly to the Chinese government and military."

China dismissed the report as groundless.

30 years ago, the US national debt was about one trillion dollars. Today, it is almost 17 trillion dollars.

40 years ago, the total amount of debt in the United States was about 2 trillion dollars. Today, it is more than 56 trillion dollars.

At the same time that we have been running up all of this debt, our economic infrastructure and our ability to produce wealth has been absolutely gutted. Since 2001, the United States has lost more than 56,000 manufacturing facilities and millions of good jobs have been shipped overseas.

Our share of global GDP declined from 31.8 percent in 2001 to 21.6 percent in 2011. The percentage of Americans that are self-employed is at a record low, and the percentage of Americans that are dependent on the government is at a record high. The US economy is a complete and total mess, and it is time that we faced the truth.

In the Woolwich attack, Lee Rigby, a drummer in the Royal Regiment of Fusiliers, was run down in a car and then hacked and stabbed to death by two men with knives and a cleaver. They told a man video recording the scene that it was vengeance for the killings of Muslims by the British Army.

One man has been charged with "malicious communications" on Facebook, the Daily Mail reports. Two others have been arrested under the Public Order Act on suspicion of inciting racial or religious hatred. The police are now arresting people based on mere speech in social media, a detective said in a statement to the press. The arrests come at the behest of British Muslims, who fear a backlash against them following the death of Rigby, The New York Times says.

Recently, for example, Japan, Switzerland and New Zealand have openly intervened to weaken their currencies and several other countries have expressed a desire for some degree of currency weakness. In this report, Butler summarizes the goals and methods of foreign exchange intervention and places today’s policies in their historical context; but moreover he discusses the evidence of where covert intervention - quite common historically - might possibly be taking place: perhaps where you would least expect it.

If the currency wars continue to escalate as they have of late, it seems reasonable to expect that covert interventions will grow in size, scope and frequency. Desperate policymakers sometimes do desperate things. And history is sometimes stranger than fiction.

US Federal Reserve Chairman Ben Bernanke made it clear in congressional testimony this week that the central bank could very well entertain a change in policy sooner than many had predicted. That would mean providing less stimulus to the economy by cutting back on its bond buying program.

And of course, there are other potential flashpoints. Will an heir to Bernanke emerge? Will the annual monetary policy symposium in Jackson Hole, Wyoming, this August matter without Ben Bernanke?

Independent living enables disabled people with high support needs to be in control of when and how they receive assistance with everyday tasks. It’s about choosing when you get up, go to the toilet, eat a meal, get dressed, go out etc. Many of us would argue that these are basic human rights which non-disabled people tend to take for granted. But when a person is unable to perform such tasks for themselves, a cost gets attached to them and people’s rights get forgotten.

Furthermore, this cut is nothing to do with the now-familiar rhetoric of scroungers and cheats. It is directly aimed at around 19,000 disabled people with the highest support needs. Just off the top of my head, we users of the ILF include actors, TV presenters, PhD students, chief executives, consultants, trainers, a life peer and at least two stand-up comedians. Many of us have pushed the boundaries for disability rights in our communities and/or respective fields of work.

I believe our society as a whole will be the poorer if we have to move into residential institutions, as many of us fear will happen, because funding is no longer available for us to live independently in the community.

Aid organizations, such as the German Agro Action, are - in principle - sworn to neutrality and non-partisanship, however, at the demand of the German government, they are taking up activities in regions under rebel control, aimed at "winning hearts and minds" in favor of the rebels.

Because this is in clear violation of Syria's sovereignty, an influential German daily has characterized this mission as "humanitarian intervention without a UN mandate" - "not with tanks and infantry but with trucks and development aid workers." Germany is promoting insurgents also in areas under Islamist control.

He also quoted medical sources in Saudi Arabia as saying that the king’s vital organs, including his heart, kidneys and lungs, have stopped functioning. Doctors are said to have used a defibrillator on him several times. He is also reported to be alive with the help of a ventilator. The 89-year-old king’s health has declined over the past few years, during which he has been hospitalized several times.

Failing health, old age as well as the death of the king’s half-brothers have raised concerns about the future of the oil-rich country in the face of anti-government demonstrations.

The pontiff exhorted Mafiosi to change their ways, issuing the call Sunday, a day after the beatification of an Italian priest in Palermo who was slain in 1993 by mobsters after he defiantly preached against the Mafia in a neighborhood where Cosa Nostra held sway.

Francis told a crowd in St Peter's Square the Mafia killed the Reverend Giuseppe Puglisi because he tried to keep youths from being recruited by mobsters. He said it pains him when he thinks of all the people exploited by organized crime. Mobsters control rackets for prostitution, trafficking in illegal immigration and other forms of slavery.

Puglisi was beatified in a ceremony Saturday in Palermo, the Sicilian capital where he worked in a mobster-infested, poor neighborhood. He was slain in 1993, a few months after Pope John Paul II visited Sicily and urged priests to rally the faithful against organized crime.

The warning comes in the wake of David Cameron's visit to Washington, which was primarily intended as a joint promotion of the Transatlantic Trade and Investment Partnership (TTIP) with Barack Obama, which the prime minister said could bring £10 billion a year to the UK alone, but which was overshadowed by a cabinet rebellion back in London.

The threat by Cameron's ministers to back a UK exit in a referendum on the EU raised doubts in Washington on whether Britain would still be part of the deal once it had been negotiated. More immediately, Obama administration officials were concerned that the uncertainty over Britain's future would further complicate what is already a hard sell in Congress, threatening a central pledge in the president's State of the Union address in February.

Wolfgang Schäuble sounded almost like a new convert extolling the wonders of heaven as he raved about his latest conclusions on the subject of saving the euro. "We need more investment, and we need more programs," the German finance minister announced after a meeting with Vitor Gaspar, his Portuguese counterpart.

The role he was slipping into last Wednesday was new for Schäuble. The man who had persistently maintained his image as an austerity commissioner is suddenly a champion of growth. If Germany couldn't manage to trigger an economic recovery, "our success story would not be complete," he said. And as if to convince even the die-hard skeptics, he added: "The German government is always prepared to help."

After three years of crisis policy, it was an impression shared by very few people in countries like Portugal, Spain and Greece. They are more likely to associate Schäuble and his boss, Chancellor Angela Merkel, with austerity mandates ushering in hardship, deprivation and unemployment.

But a new way of thinking has recently taken hold in the German capital. In light of record new unemployment figures among young people, even the intransigent Germans now realize that action is needed. "If we don't act now, we risk losing an entire generation in Southern Europe," say people close to Schäuble.

About 200 young people, many of them masked, pelted police lines with bottles, stones, fireworks and flares. The crowd – led bizarrely at one stage by a lone bagpiper – chased and beat up TV crews and press photographers. Police and gendarmes responded with tear gas and baton charges. Priests in long cassocks observed the battles without attempting to intervene. Other, more peaceful demonstrators stood in lines or circles nearby holding hands, praying and singing as tear gas and red smoke from flares swirled around them.

Earlier about 400,000 people, including many children, had defied warnings of possible far-right violence and marched in peaceful protest against France's newly enacted law permitting same-sex marriage. "Frigide [Frigide Barjot (pun on Brigitte Bardot) is a French humorist, columnist and political activist. She has become prominent for her campaigns against same-sex marriage in France and LGBT adoption] was wrong not to come," said Alain, 38, a lawyer who was demonstrating with his wife and two young sons. "The threat of violence is nothing in comparison to the threat we face from this law. This is just the beginning of a programme of legislation to impose the socialist ideology of one gender and to destroy the foundations of the family."

Many of the banners and signs in the protests made similarly apocalyptic claims about the importance of the law. The largest of the marches, starting in the well-heeled 16th arrondissement of Paris, was led by a 30ft-wide banner that proclaimed: "No to a change of civilisation."

Defense Minister General Ahmad Vahidi was quoted as saying the new weapon systems give Iranian forces the ability to "crush the enemy" with the simultaneous launching of long-range surface-to-surface missiles, according to Fars, the semi-official Iranian news agency.

The report did not specify the type of missile that would be fired, or provide details on the number of launchers allegedly deployed. Iran’s military does possess surface-to-surface missiles that are capable of traveling over 2,000 kilometers (1,200 miles), able to reach targets inside Israel and US bases in the region.

The stand-off resulted in a tense military parade as the US sent three full US carrier groups, each accompanied by dozens of support vessels and carrying more aircraft than the entire Iranian air force, to participate in the Hormuz exercises.

The 28-year-old was filmed with blood on his hands, ranting at passers-by, as he waited to confront police after Lee Rigby was hacked to death. ‘He was not a coward, he did not flee the scene,’ said Bakri, who repeatedly refused to condemn the slaughter. To many people, Bakri’s comments will demonstrate why police should monitor comments by radical clerics and why search engines such as Google should do more to shut down extremist websites.