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There's been violence in Europe and political upheaval here in the US. Is the developed West losing confidence and a sense of hope? What's the role of wealth inequality? What are the possible fixes? Also, President Obama and new proposals for job creation, and cigarette companies sue the FDA against graphic warnings about the dangers of smoking.

Banner image: Members of the nurses union, National Nurses United, and other workers converge on Wall Street to protest against financial intuitions and inequality in New York City. Photo by Spencer Platt/Getty Images

Making News President Obama Plans New Proposals for Job Creation 7 MIN, 38 SEC

The White House is promising big things to come, after the President completes his tour of the Middle West and takes a week of vacation in Martha's Vineyard. Today he was in Atkinson, Illinois. In early September, Mr. Obama will make a major speech with new proposals for issues central to America's future and to his re-election campaign: job creation and taming the federal debt. David Nakamura reports from Washington for the New York Times.

David Nakamura, Washington Post (@davidnakamura)

Main Topic The Age of Outrage in Europe and America 34 MIN, 6 SEC

In Britain, Greece and elsewhere in Europe, outbreaks of street violence have disrupted the usual tranquility of spring and summer. The combination of high unemployment and new austerity measures is creating a loss of hope in the future among young people. Sound familiar? Multibillion-dollar investor Warren Buffett has made headlines by suggesting that he and other rich people pay too little in taxes. Are countries in the developed West facing a crisis of confidence? On both sides of the Atlantic, the gap between the rich and the rest of the population is growing fast. Is the work ethic losing its currency? Is it time for the rich to pay more taxes and share what they have or face an outbreak of class warfare?

Roger Cohen, Columnist for the New York Times; Foreign editor for three years (@NYTimesCohen)
Karsten Voigt, German Council of Foreign Relations
Eric Schoenberg, Responsible Wealth
Daniel J. Mitchell, Cato Institute (@danieljmitchell)

Reporter's Notebook Tobacco Industry Files Lawsuit over Warning Labels 9 MIN, 4 SEC

Doctors say smoking is a major cause of health problems in the US, but cigarettes are still legal. Now four of the five big tobacco companies have sued the Food and Drug Administration for relief from requirements that they put graphic warnings on their own products. There's a picture of a corpse with its chest sewed up and a warning that "Smoking Can Kill You." Another image shows a pair of lungs that are yellow and black with disease. Such warnings will be rotated on cigarette packs and take up more space than their brand identifications. Duff Wilson reports for the New York Times.

Duff Wilson, New York Times

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