Good morning! Here’s what you need to know:1. Food prices are high and they will likely stay that way for a long time, according to Joseph Glauber of the United States Department of Agriculture. You can read his “state of the agriculture business” speech here.
3. The idea of a weapons convention in the Middle East this week seems a bit….unnerving. But the Persian Gulf’s preeminent arms show drew thousands of hardware merchants and lots of eager buyers.
4. U.S. and Pakistani military commanders met in Oman on Tuesday to try to mend relations between the two countries. Discussion focused on the volatile incarceration of CIA operative Raymond Davis.
6. President Obama faces determined opposition from the GOP-controlled US House of Representatives. But he faces even more determined opposition from GOP governors across the country. Ron Brownstein reports on the multi-front war against the Obama presidency.
7. New Jersey Governor Chris Christie faces an avalanche of debt as New Jersey tries to dig out after literally decades of profligate and reckless governance. The New York Times offers a favourable profile.
8. Massachusetts Governor Mitt Romney passed a health care reform bill in Massachusetts that was the forerunner to the health care reform bill passed by President Obama. This is Mr. Romney’s Achilles heel in the GOP presidential primary race. Yesterday, a spokesman said he was proud of his Achilles heel.
9. The U.S. could lose its top-rated credit status, says Moody’s, if the battle over the debt ceiling limit causes the government to miss an interest payment.
10. It costs twice as much to trade municipal bonds today as it did in the 1920s. The opacity and dysfunction of the muni bond market costs investors a lot of money.
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