2. defence Secretary Robert Gates and Secretary of State Hillary Clinton both said yesterday that the United States is not likely to arm the Libyan rebels in their battle against Col. Qaddafi. They said the French could do that.
3. There are reports that secret negotiations are underway in London to facilitate Col. Qaddafi’s departure from Libya. Meanwhile, another high-ranking official in Col. Qaddafi’s regime defected, causing consternation amongst Qaddafi’s loyalists.
4. The Taliban leadership is under stress in Pakistan, according to The New York Times. Arrests, killings and fears of disloyalty have caused tensions to rise amongst the believers.
5. If it’s Friday, it must be another Day of Rage. And it is, in Syria. Major demonstrations are planned to protest the iron rule of Bashar al-Assad. A vicious crackdown on the protesters is possible.
6. Ireland’s banks are underwater to the tune of EUD 24 billion . This bring the total cost of the bailout of Irish banks to EUD 70 billion. The Economist argues that bondholders will have to take a haircut; Ireland, Greece and Portugal are bust.
7. The US budget deal (that would enable the raising of the US debt ceiling) was supposedly “done” yesterday. Today, it is not done. House Republican freshmen and Tea Party activists refused to support the proposed compromise.
8. Grain prices continued to surge, on news that US supplies of corn and soya beans were lower than previously believed. Rural America has been enjoying a strong economic rebound, with crop and real estate prices rising sharply.
9. The President of the Minneapolis Fed said yesterday that the Federal Reserve may need to raise interest rates sharply by the end of 2011 if core inflation continues to rise.
10. Former Florida Governor Jeb Bush (R) has emerged as the GOP guru of education policy. Mr. Bush is widely seen as a contender for the 2016 GOP presidential nomination.
# Ron Brownstein on changing demographics and the Texas budget.
# Subprime bonds are back!
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.