The ongoing chaos in the world’s financial markets shows no sign of abating, and governments, financiers, and their kept economists are now openly talking of a reprise of the Great Depression, unless something is done quickly.
His vociferous support for Russia's heavy aerial bombardment and invasion of Georgia notwithstanding, Mikhail S. Gorbachev is scheduled to be presented the Liberty Medal on September 18 by former President George H. W. Bush.
While Russian Prime Minister Vladimir Putin was in Beijing schmoozing with world leaders during the opening ceremonies of the Olympics on August 8, Russian troops, tanks, and bombers were launching a surprise attack on neighboring Georgia.
On August 3, the world lost Nobel Prize laureate Alexander Solzhenitsyn, the conscience of the Cold War. Convicted in 1945 of criticizing Joseph Stalin’s regime, Solzhenitsyn spent years in a Soviet prison camp, nearly succumbing to disease and other hardships. After his release, Solzhenitsyn began publishing materials describing the horrors of the Soviet prison camps, or gulags. His most famous book, The Gulag Archipelago, led to his being awarded the Nobel Prize for literature in 1970.