‘The Crisis at Which We Are Arrived’  —  Don't fear the Tea Parties. … We are not now quite at a founding moment, or even a re-founding moment.  But we have arrived at a genuine crisis, or a set of crises, and we may well be at a decisive moment for the country.  —  This sense of crisis is what animates the Tea Parties.

Bank Bailout Is Potent Issue for Both Parties in Fall Races  —  WASHINGTON — The vote in 2008 to bail out Wall Street was framed as the only way to avert an economic meltdown and relieve financial institutions of their most poisonous holdings.  For many members of Congress, it turns out that the vote itself was toxic.

Axelrod: ‘Patchwork’ of state laws would ‘dillute’ federal border efforts  —  White House Senior Adviser David Axelrod on Sunday defended the administration's lawsuit against Arizona's immigration law, saying state laws such as the controversial one in the border state “dillute” federal efforts to secure the border.

It Begins... First Oil Rig Relocates From Gulf to Foreign Waters  —  Thanks Barack.  —  Diamond Offshore announced on Friday that it will be the first company to relocate one of its oil rigs from the Gulf of Mexico to Egyptian waters due to the Obama Administration's ban on drilling.

Obama Finalizes Plans For 3rd Vacation Since Gulf Oil Spill Crisis Began  —  “I'm not going to rest or be satisfied until the leak is stopped at the source, the oil in the Gulf is contained and cleaned up, and the people in the Gulf are able to go back to their lives and their livelihoods.”

Dead for a Century, Twain Says What He Meant  —  Wry and cranky, droll and cantankerous — that's the Mark Twain we think we know, thanks to reading “Huck Finn” and “Tom Sawyer” in high school.  But in his unexpurgated autobiography, whose first volume is about to be published a century after his death …

Israel: We won't let ship reach Gaza  —  MK Tibi: Activists on Libyan ship still plan to sail straight to Gaza.  —  Talkbacks (50)  —  Make JPOST.COM your Home Page  —  Iranian Threat  —  Jewish World  —  Local Israel  —  Arts & Culture  —  Français  —  Classifieds  —  Israel

New Keynesians and New Monetarists  —  What's the difference between a New Keynesian and a New Monetarist?  This sounds like I'm leading off to tell a joke (a duck walks into a bar...), but I'm not.  A New Keynesian thinks that the real interest rate is too high, while a New Monetarist thinks the real interest rate is too low.

Wall St. Hiring in Anticipation of an Economic Recovery  —  While much of the country remains fixated on the bleak employment picture, hiring is beginning to pick up in the place that led the economy into recession — Wall Street.  —  The shift underscores the remarkable recovery …

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Box left at woman's door explodes  —  HOUSTON (KTRK) — Local and federal investigators were at a northwest Houston home Friday night where an explosion sent a woman to the hospital.  —  The woman was opening a package left at her doorstep in the 2100 block of Seamist Court Friday evening.

What summer?  Record cold at LAX as July gloom continues  —  Unusually cold temperatures in Southern California continued, with Los Angeles International Airport setting a record low on Friday.  —  LAX got to only 67 degrees, breaking a record set in 1926, according to the National Weather Service.