There are suggestions President Obama should issue a trillion-dollar coin to pay down US debt. Huh? The proposal is a bizarre response to the next stage of the ongoing US financial crisis.
Congress and Barack Obama have gone on holidays without a deal on the "fiscal cliff". The chances of anything more than a temporary fix now look remote.
The "fiscal cliff" is dominating political news in the United States, where come January 1, tax rises and spending cuts will kick in under the current deal, unless Obama and the House can negotiate a better one.
Companies in the US are bringing forward their dividends to avoid a sharp rise in dividend tax that could be the result of the upcoming "fiscal cliff".
Pakistan has good reason to fear the re-election of Barack Obama. But Australians should be watching the Senate result -- that's where the results may really affect those Down Under.