Sovereign Debt = Hungary

Bloomberg.com: Reports that Hungary could default on its sovereign debt. In other words Hungary could go belly up like Greece, one has to ask how much bailouts the world economic system can take before Hungary, Greece, Spain, Italy, Portugal, Ireland are allowed to go to the wall. At the end of the day the economic bailouts don't solve the problem, they are a bandage that stems the economic blood flow, but in keeping these countries going the entire system is getting affected, it can be argued that it would be better to allow countries to default, then they can scrap the costs of their welfare state structure and restart the system on a better foundation. The question do the politicians have the guts to take this drastic action or will they allow the economic cancer to kill the system.

Gaza set SHIP Taken - Israel

BBC News: Reports that another Gaza set ship, the Rachel Corrie has been taken by Israel, this time no pics or the need for Israeli troops to defend themselves. Thus a very successful operation by Israel, the usual anti Israel crowd will be up in the arms, from the BBC to the NYT/Guardian crowd. At the end of the day Israel has to protect the security of its people, end of discussion.

Deaths in Afghanistan

MOD: Reports that two British Soldiers were killed on Friday in Afghanistan, the Soldiers were from the " 1st Battalion The Mercian Regiment serving as part of Combined Force Nahr-e Saraj (South) ". Thus since 2001 the UK has lost 292 of its Armed Forces Personnel in Afghanistan, of that total it has lost 258 in combat operations and 34 due to illness, accidents or other incidents.