Breaking the Bubble

National:

– The Federal Reserve agreed to keep interest rates low, with no hikes likely until 2014. It unfortunately acknowledged that full recovery from the latest recession is years away.

– President Obama delivered the State of the Union Address on Tuesday. Realizing what was on the minds of many viewers, he said “Most Americans are thinking the same thing right now: nothing will get done this year.”

– Many Americans are becoming critical of Republican hopeful Mitt Romney’s tax returns, which show evidence of $4.13 million donated to the Mormon church from just 2010-2011. Romney has been doing everything in his power to show he is deserving of the candidacy in lieu of Newt Gingrich’s success in South Carolina.

– To combat the problem of childhood obesity, the Obama administration announced changes it will make to government-subsidized school meals on Wednesday. The changes include the addition of more fruit and vegetable options, and less salty and fatty options.

International:

–  Israeli-Palestinian talks aimed at reviving peace negotiations ended in Jordan on Wednesday. No progress was made and Palestinian Authority President Mahmoud Abbas plans to consult fellow Arabs on his next move, Palestinian officials said.

– Two Americans who were being held hostage by Somali pirates were rescued by Navy Seals on Tuesday, at the same time President Obama was delivering his State of the Union Address.

– A huge demonstration took place on Wednesday in Cairo on the first anniversary of the Egyptian revolution. It quickly became a conflict between Islamists and other activists over whether to celebrate the end of President Hosni Mubarak’s power or to rally against the continued rule of the generals who took power.

– On Wednesday, Scotland’s first minister, Alex Salmond, took the first formal step toward an independence referendum that the government in Edinburgh hopes will secure a mandate from Scotland’s five million people for the country’s withdrawal from the United Kingdom within as little as five years.

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