China's economy shows signs of slowing down

Keeping in mind that there's no such thing as a "soft landing" this is worrying news. It's not a surprise, since all bubbles eventually burst, but China will have a serious problem if the unemployment numbers get much higher.

"This indicates that the economic recovery trend is not yet clear, and we may see economic growth slow down a bit," Zhang Liqun, a government researcher, said in a statement accompanying the release.

"The new export orders sub-index continued to fall while the input prices sub-index went on rising, which suggests that enterprises could face relatively big difficulties in rising costs and slowing demand," he added.

Consumer price inflation in China ran at an annual pace of 4.6 percent in December, slowing slightly from November's 28-month of 5.1 percent.

Many economists believe inflation is set to accelerate again in January due to a spike in food demand and broader consumption ahead of the Chinese Lunar New Year, which begins this week.

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About Jon Huntsman's electability

Matt Browner-Hamlin examines the electability of former Utah governor Jon Huntsman, who is almost certainly running for president in 2012. Read the rest of this post...

A Boehner scandal in the National Enquirer?

That's what Mike Stark is hearing. Check out his post and videos for a refresher on the underlying scandal about a possible extramarital affair.

And, people can mock the National Enquirer, but I bet John Edwards doesn't anymore. Read the rest of this post...

President Obama speaks on Egypt

It's been another amazing day in Egypt. The protests were massive. Mubarak addressed his nation earlier today, saying he won't run for President again.

Obama is addressing his nation (and the world) tonight. It should be live momentarily. UPDATE @ 6:49 PM: It's over. Obama spoke for 4 1/2 minutes. I'll post the transcript once it's sent.

And, another update @ 6:57 PM. Post-speech analysis is popping up on twitter. Nate Silver just tweeted:

Obama's Egypt statement was so inscrutable I'm not quite sure what the point was.

Ken Bazinet wrote:

Wow, may be easier to parse what Obama didn't say. He didn't even nail Mubarak for thinly veiled threat to go after the protesters.

Here's the live stream from the White House(I've removed the embed)

The President's remarks are after the break.

From the White House:

THE PRESIDENT: Good evening, everybody. Over the past few days, the American people have watched the situation unfolding in Egypt. We’ve seen enormous demonstrations by the Egyptian people. We’ve borne witness to the beginning of a new chapter in the history of a great country, and a long-time partner of the United States.

And my administration has been in close contact with our Egyptian counterparts and a broad range of the Egyptian people, as well as others across the region and across the globe. And throughout this period, we’ve stood for a set of core principles.

First, we oppose violence. And I want to commend the Egyptian military for the professionalism and patriotism that it has shown thus far in allowing peaceful protests while protecting the Egyptian people. We’ve seen tanks covered with banners, and soldiers and protesters embracing in the streets. And going forward, I urge the military to continue its efforts to help ensure that this time of change is peaceful.

Second, we stand for universal values, including the rights of the Egyptian people to freedom of assembly, freedom of speech, and the freedom to access information. Once more, we’ve seen the incredible potential for technology to empower citizens and the dignity of those who stand up for a better future. And going forward, the United States will continue to stand up for democracy and the universal rights that all human beings deserve, in Egypt and around the world.

Third, we have spoken out on behalf of the need for change. After his speech tonight, I spoke directly to President Mubarak. He recognizes that the status quo is not sustainable and that a change must take place. Indeed, all of us who are privileged to serve in positions of political power do so at the will of our people. Through thousands of years, Egypt has known many moments of transformation. The voices of the Egyptian people tell us that this is one of those moments; this is one of those times.

Now, it is not the role of any other country to determine Egypt’s leaders. Only the Egyptian people can do that. What is clear -- and what I indicated tonight to President Mubarak -- is my belief that an orderly transition must be meaningful, it must be peaceful, and it must begin now.

Furthermore, the process must include a broad spectrum of Egyptian voices and opposition parties. It should lead to elections that are free and fair. And it should result in a government that’s not only grounded in democratic principles, but is also responsive to the aspirations of the Egyptian people.

Throughout this process, the United States will continue to extend the hand of partnership and friendship to Egypt. And we stand ready to provide any assistance that is necessary to help the Egyptian people as they manage the aftermath of these protests.

Over the last few days, the passion and the dignity that has been demonstrated by the people of Egypt has been an inspiration to people around the world, including here in the United States, and to all those who believe in the inevitability of human freedom.

To the people of Egypt, particularly the young people of Egypt, I want to be clear: We hear your voices. I have an unyielding belief that you will determine your own destiny and seize the promise of a better future for your children and your grandchildren. And I say that as someone who is committed to a partnership between the United States and Egypt.

There will be difficult days ahead. Many questions about Egypt’s future remain unanswered. But I am confident that the people of Egypt will find those answers. That truth can be seen in the sense of community in the streets. It can be seen in the mothers and fathers embracing soldiers. And it can be seen in the Egyptians who linked arms to protect the national museum -- a new generation protecting the treasures of antiquity; a human chain connecting a great and ancient civilization to the promise of a new day.

Thank you very much.

END 6:49 P.M. EST

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Huff Post/Dylan Ratigan plan Mortgage Madness Meetups

Interesting. Apparently, a large part of the reason they're planning these meetups is because the administration's mortgage foreclosure prevention program isn't helping nearly as many people as planned.

The Garwoords' experience with their bank - the unexplained delays; the conflicting advice; the lost documents; the difficulty in finding a human being to talk to, let alone one familiar with their case; the inexplicable fees and letters of rejection - is familiar to millions of homeowners who have sought mortgage modifications either through HAMP or a bank's own program. Based on hundreds of hours of interviews with homeowners over the past two years, a strikingly clear picture emerges of the similarities between the many experiences of homeowners that are unique only in their details. A homeowner lost in the maze of a bank's phone system may feel alone but, in reality, is lost with millions of others. To connect homeowners who've had similar trouble with their banks, HuffPost is teaming with Meetup.com and MSNBC's Dylan Ratigan to launch Mortgage Madness Meetups across the country. Get a Meetup in your neighborhood going here.

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Romney and the individual mandate

Matt Browner Hamlin on why GOP presidential aspirant Mitt Romney won't be able to explain away his health care reform albatross, the individual mandate. Read the rest of this post...

It's official: Mubarak says he won't run for another term

Guess who doesn't quite understand what's going on in Egypt? Earlier today, the rumors began:

President Hosni Mubarak will say in a speech Tuesday that he will step down at the next election but would stay in office until then, Al Arabiya TV has reported.

It did not give a source for the news.

On Tuesday, at least one million people rallied across Egypt clamoring for Mubarak to give up power, piling pressure on a leader who has towered over Middle East politics for 30 years to make way for a new era of democracy in the Arab nation.

In an address to his nation, which just concluded, Mubarak confirmed that he won't run again in September. He said, among other things, "I have spent enough time serving Egypt." Read the rest of this post...

Another DADT horror story - the financial witch hunts continue

This need to stop. Why are gay servicemembers being fined tens of thousands of dollars by this administration? Read the rest of this post...

How the media is covering HCR court challenges

Steve Benen shows how the media is giving a lot more attention to the two court victories of health care reform opponents than the two victories of the Obama administration. Steve asks why? Simple answer. As my mom told me once, I think she was quoting Walter Cronkite, "no one is interested in the cat that didn't get stuck in the tree." Meaning, in this case, while an Obama administration victory in court is nice, a defeat is sensational (meaning, creating a sensation). I'm not sure it's fair, but there's just not as much of a "wow" factor to a judge upholding health care reform as a judge striking it down. Again, I'm just speaking with my news gut, not any overall sense of what is fair. Bad news is simply more interesting. Read the rest of this post...

An evening of glamour with Sharron Angle (seriously)

Oh how the mighty have fallen. You'll recall that Sharron Angle, who ran unsuccessfully against Harry Reid, may just be angling for the presidency. She appears to be following the Sarah Palin "no publicity stunt is too trashy" path to the White House. Read the rest of this post...

Reuters: At least 1 million rally across Egypt

Reuters:

At least one million people rallied across Egypt on Tuesday clamoring for President Hosni Mubarak to give up power, piling pressure on a leader who has towered over Middle East politics for 30 years to make way for a new era of democracy in the Arab nation.

Cairo's Tahrir (Liberation) Square was jammed with people ranging from lawyers and doctors to students and jobless poor, the crowd spilling into surrounding streets.

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2012 Democratic convention to be in Charlotte, NC

Not the most exciting of cities - went to a conference there in the 90s, was kind of small. But I guess they have to spread it around. Read the rest of this post...

US income inequality is even worse than in Egypt

So I guess this means the Republicans who are calling for more support for protesters will agree that the US also needs reform, right? More from ThinkProgress. Read the rest of this post...

11% of US homes are empty

For those who believe there is a housing recovery underway or even an economic recovery, this is a stunning number. CNBC:

Now to vacancies. There were 18.4 million vacant homes in the U.S. in Q4 '10 (11 percent of all housing units vacant all year round), which is actually an improvement of 427,000 from a year ago, but not for the reasons you'd think.

The number of vacant homes for rent fell by 493 thousand, as rental demand rose. 471,000 homes are listed as "Held off Market" about half for temporary use, but the other half are likely foreclosures. And no, the shadow inventory isn't just 200,000, it's far higher than that.

So think about it. Eleven percent of the houses in America are empty. This as builders start to get more bullish, and renting apartments becomes ever more popular. Vacancies in the apartment sector have been falling steadily and dramatically, why? Because we're still recovering emotionally from the toll of the housing crash.

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China blocking 'Egypt' searches online, blocking comments and filtering news

Yet another reason why it's a bad idea to implement any programs to either limit the internet or hand power over to one person, as Joe Lieberman wants to do. It's simply not what one does in a supposed democracy. Radio Free Asia:

However, online activists said many comments in support of the Egyptian protesters had already been removed from forums and microblogging sites.

Chinese official media coverage has focused on efforts by tour companies and airlines to retrieve dozens of Chinese tourists from Egypt in the midst of the upheavals in Cairo.

The ruling Communist Party generally limits coverage of major confrontations between governments and citizens to an officially approved angle, and seeks instead to limit the range of public opinion on the topic, experts said.

"There are some websites on which people are finding it hard to run searches using the word 'Egypt,'" said Yang Dali of the University of Chicago.

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Million person march in Egypt today?

Possibly. It's more likely to happen since the military has ruled out the use of force.

Egypt's army gave a powerful boost to the country's opposition last night by announcing that it would not use force to silence "legitimate" demands for democratic reforms in the Arab world's largest nation.

On the eve of a million-strong protest planned for today and amid multiplying signs that the US is moving steadily closer to ditching its long-standing ally, Egypt's president, Hosni Mubarak, now has few options left.

Last night, in an apparent attempt to soften popular anger, the Egyptian vice-president said Mubarak had asked him to start a dialogue with all the country's political parties. According to state TV, Omar Suleiman said it would involve constitutional and legislative reforms.

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BP reports annual loss for 2010 but still pays out dividends

Despite the previous talk about how difficult the oil spill crisis was for BP's bottom line, they're doing fine. It was a loss, but with oil prices being what they are plus the normal government welfare for the oil industry, BP is still able to pay out dividends. If they were really in trouble, dividends would have been put on hold for the year, as it was during the peak of the crisis. Read the rest of this post...