In anticipation of the NATO Summit, which is to be held from May 20 to May 21, the city of Chicago is preparing a practical police state. Federal officials are implementing security plans that are so broad they encompass all of Cook County, Illinois.
Last Thursday's two-notch downgrade of Spain's sovereign debt by Standard and Poor's credit rating agency is triggering pushback at the ballot box.
"NATO will be holding its 25th summit in President Obama's hometown of Chicago, United States, on 20-21 May 2012," the North Atlantic Treaty Organization has announced.
The sovereign debt crisis in the European Union can be summed up fairly simply: The governments of overspending nations are asking the governments of fiscally prudent nations to prop them up. The prudent nations, whose governments pay their obligations out of revenue, rather than by selling bonds, tend to be those in the more financially conservative parts of Europe, such as Finland, Holland, and Germany. Those nations that are waist deep in debt, whose bond offerings have in some cases been reduced to junk bond status, tend to be in the south of Europe around the Mediterranean Sea.