In the news:

G20 to give $1 Trillion to IMF, World Bank. Interesting quotes are coming out of the G20 meeting such as "For the First time we have a common approach to cleaning up banks around the world to restructuring of the world financial system."

Obama backs Saudi peace initiative. President Obama, according to this article, backs the February 2002 initiative, which calls for a full Israeli withdrawal from all territories which Israel gained during the Six Day War, including east Jerusalem. Pre '67 borders would also require Israel to give up the Golan Heights and the West Bank, and both actions would significantly weaken Israel's ability to defend their country against the surrounding terrorists, who only want to destroy Israel as a country. With the new Israeli administration in place, this is highly unlikely.

North Korea triggers new global crisis. Joel Rosenberg has a nice review of the missile launch planned by North Korea in the coming days. Japan has threatened to shoot this missile down. No one is completely sure what the ramifications are, but at a minimum, successful launch would prove that N. Korea has the ability to send a nuclear warhead virtually anywhere in the world. This situation is definitely worth watching closely.

More news to come......