The world economy continued its collapse. The Dow Jones Industrial Average declined 22 percent over eight days, Wall Street lost $2.4 trillion in market value, and Iceland went bankrupt.CNNBusiness WeekThe head of the International Monetary Fund warned that the world was on the “brink of systemic meltdown,”BBCand Democrats in Congress called for a $150 billion economic stimulus plan to rebuild America’s crumbling infrastructure.Yahoo! NewsBarack Obama called for firms that create jobs to be rewarded with tax credits and for a moratorium on foreclosures;AFPJohn McCain refused to answer questions about his economic plan, but was reportedly considering a cut in the …

The Cloaca Maxima, 1872 Iranian President Mahmoud Ahmadinejad, hailed by his countrymen as the “Socrates of the Third Millennium” for “disarming other speakers through his sharp reasoning,” gave a speech on Monday in which he claimed that Iran had no homosexuals and disavowed reports of his nuclear ambitions. “Let me tell a joke here,” Ahmadinejad said. “I think the politicians who are after atomic bombs, or testing them, making them, politically they are backward, retarded.” On Tuesday he met with Zimbabwe President Robert Mugabe, addressed the United Nations (where he announced that he would disregard any resolutions adopted by the …

Jittery global markets brought on by the subprime mortgage crisis led the Federal Reserve to cut its discount rate on loans to banks by half a percentage point.AP via ForbesCiting America’s $1 trillion debt to China, Senator Joe Biden warned, “We have to get off that sucking off of that breast which is China.”Des Moines RegisterIt was reported that a South Carolina small-parts supplier run by twin sisters had cheated the Pentagon out of $20.5 million in shipping costs; two 19-cent washers sent to an Army base in Texas, for instance, incurred a $998,798 charge.BloombergJenna Bush, the younger of the …

Caught in the Web, 1860. A White House report showed that only eight of eighteen benchmarks for progress were being met in Iraq, but President Bush asked Congress to wait for another report in September before passing judgment.NYTNYTRyan C. Crocker, U.S. ambassador to Iraq, pleaded against withdrawal. “In the States,” said Crocker, “it’s like we’re in the last half of the third reel of a three-reel movie, and all we have to do is decide we�??re done here, and the credits come up, and the lights come on, and we leave the theater and go on to something else. Whereas …

Saddam Hussein’s cousin Ali Hassan al-Majeed, also known as “Chemical Ali,” was sentenced to death for his role in Iraq’s Kurdish genocide.Reuters CanadaHamas militants released an audio recording of captured Israeli soldier Gilad Shalit in which he states, “I am sorry that the Israeli government has not shown more interest. It should meet the demands of my kidnappers so I can be released.”BBCSeven children were killed during a coalition-led airstrike in Afghanistan,.NYTand the Gaza kidnappers of Britishjournalist Alan Johnston released a video of Johnston wearing an explosives vest, which he says will be detonated if force is used to try …

“Into the palace parlor they stepped; her hand in his paw the old bruin kept,” 1875 Thirty-seven American soldiers were killed in Iraq, ending the deadliest month for U.S. forces in the past two-and-a-half years. U.S. military commanders were negotiating cease-fires with Iraqi militants, Turkish troops shelled northern Iraq, and in Baghdad the country’s preeminent calligrapher was shot to death. icasualties.orgAP via breitbart.comAP via International Herald TribuneBBCIraq was found to be the world’s 121st least peaceful country out of 121 countries; the United States ranked 96, below Yemen but above Iran.BBCThe crowd at the Miss Universe competition in Mexico City …

A Christian martyr. The United States Army extended combat tours for 4,000 soldiers in Iraq,.AP via Yahoo! Newsand the Bush Administration declassified an intelligence report that called the war a “cause celebre” for Muslim extremists.AP via Yahoo! NewsThe new leader of Al Qaeda in Iraq claimed that 4,000 foreign insurgents have died since the 2003 invasion.AP via Yahoo! NewsSenator Trent Lott of Mississippi told reporters that it’s hard for Americans to understand “what’s wrong” with Iraqis. “Why do they hate the Israelis and despise their right to exist? Why do they hate each other? Why do Sunnis kill Shiites? How …

Saddam Hussein’s cousin Ali Hassan al-Majeed, also known as “Chemical Ali,” was sentenced to death for his role in Iraq’s Kurdish genocide.Reuters CanadaHamas militants released an audio recording of captured Israeli soldier Gilad Shalit in which he states, “I am sorry that the Israeli government has not shown more interest. It should meet the demands of my kidnappers so I can be released.”BBCSeven children were killed during a coalition-led airstrike in Afghanistan,.NYTand the Gaza kidnappers of Britishjournalist Alan Johnston released a video of Johnston wearing an explosives vest, which he says will be detonated if force is used to try …

Hurricane Rita, the third-most intense hurricane ever recorded in the Atlantic basin, struck Florida, Texas, Arkansas, Mississippi, and Louisiana, killing 36 people and causing flooding, tornadoes, and storm surges, and re-flooding parts of New Orleans. Hurricane evacuations caused miles of traffic jams in Texas, and a bus filled with elderly people exploded when an oxygen tank caught fire, incinerating at least 24 passengers.WikipediaHouston ChronicleIn the wake of Hurricane Rita, which damaged a number of oil refineries, President George W. Bush called on Americans to conserve gas. “I mean,” he said, “people just need to recognize that the storms have caused …

General Motors announced that it will eliminate the jobs of 25,000 blue-collar workers in the United States by the end of 2008; the cuts amount to 22 percent of the company’s hourly work force. Washington PostTwenty-eight bodies were found dumped on the street or in shallow graves in Baghdad. Four U.S. soldiers died in Iraq, bringing the total U.S. casualties since the war began past 1,700.APIt was reported that interrogators at Guant�namo Bay tortured prisoners with the music of Christina Aguilera; it was also revealed that American military torturers performed a satirical puppet show for one victim. Drudge ReportTwo crows …

In Iraq at least one hundred Iraqis and eleven U.S. troops were killed in a span of four days. More than twenty car bombs were detonated, and in one case, a suicide bomber drove a car bomb into a Kurdish funeral tent, killing at least twenty-five people. Los Angeles TimesAccording to General Richard Myers, the Chairman of the Joint Chiefs of Staff, the strength of the Iraqi militant movement has not diminished during the past year.The GuardianArab newspapers reported that Donald Rumsfeld had a secret visit with Saddam Hussein and offered to free him if Hussein called for a ceasefire …

Richard Clarke, the former counterterrorism official who has criticized the Bush Administration for its poor efforts at fighting terrorism and its misguided invasion of Iraq, appeared before the commission investigating September 11 and apologized for the government’s and his own failure to prevent the attacks. President George W. Bush, Vice President Dick Cheney, and Condoleezza Rice have all refused to testify publicly before the commission.ReutersBush Administration operatives were working very hard to discredit Clarke, and Condoleezza Rice agreed to speak with the 9/11 panel once again but not publicly and not under oath.ReutersRice did appear publicly on 60 Minutes and …

Caught in the Web, 1860. President George W. Bush, apparently worried that John Kerry was beating him in recent opinion polls, appeared on a Sunday morning talk show. Bush defended his decision to conquerIraq, and although he admitted that his stated reason for invading was false, he also suggested that weapons of mass destruction might still be found. The president said that he had total confidence in the CIA but suggested that he had been misled by incorrect intelligence. “Saddam Hussein was dangerous with weapons. Saddam Hussein was dangerous with the ability to make weapons,” Bush said. “I believe it …