Markets could rebound after Thursday's global market sell-off, but investors should see any bounce as a selling opportunity, as the world economy rolls towards total collapse, Mark Faber, editor and publisher of the Boom, Doom and Gloom Report, told CNBC Friday.

A mooted third round of quantitative easing [cnbc explains] (QE3) in the U.S. and more money printing elsewhere is merely deferring a crisis that will be bigger and could end in war, Faber said.

The Dow Jones Industrial Average suffered its worst losses in three years Thursday, shedding more than 500 points.

The failed federal anti-gunrunning program known as Operation Fast and Furious got so out of control in November 2009, it appeared the U.S. government was single-handedly "arming for war" the Sinaloa Cartel, documents show, even as U.S. officials kept lying to fellow agents in Mexico about the volume of guns it helped send south of the border.

Those shocking allegations are revealed in the latest congressional report investigating the operation.

At one point, agents with the Bureau of Alcohol, Tobacco, Firearms and Explosives say guns sold under the program took just 24 hours to travel from a gun store in Phoenix to a crime scene in Mexico. ATF agents there pleaded for help but were told nothing about Fast and Furious, which was intended to let guns "walk" in order to track them to higher-profile traffickers.

A U.S. drone aircraft fired on two leaders of a militant Somali organization tied to al-Qaeda, apparently wounding them, a senior U.S. military official familiar with the operation said Wednesday.

The strike last week against senior members of al-Shabab comes amid growing concern within the U.S. government that some leaders of the Islamist group are collaborating more closely with al-Qaeda to strike targets beyond Somalia, the military official said.

The House refused to vote President Barack Obama the authority for U.S. military operations against Libya on Friday but stopped short of cutting off funds for the mission, a mixed message reminiscent of congressional unease on Vietnam and more recent wars.

In a repudiation of the commander in chief, the House voted overwhelmingly against a resolution that would have favored letting the mission continue for one year while barring U.S. ground forces, a resolution the president said he would welcome.

The vote was 295-123, with 70 Democrats abandoning Obama one day after Secretary of State Hillary Rodham Clinton had made a last-minute plea in a Capitol Hill meeting.

But shortly after that vote, the House turned back a Republican-led effort to cut off money for military hostilities in the Libyan war.

Japan's Defense Ministry said Thursday 11 Chinese warships were spotted in international waters off the country's southern island of Okinawa.

No territorial violations were claimed by Japan, but the movements are sensitive because Japan and China have a dispute over small islands in the East China Sea.
The ministry on Thursday said the Chinese warships were monitored passing from the Pacific Ocean into the East China Sea.

Ministry spokesman Shuichi Fukuya said they were believed to be returning from target practice and refueling exercises in waters about 1,500 kilometers (930 miles) south of Okinawa.

He said the Japanese military saw the Chinese warships heading out to the area June 8-9.

Iran's president says his country isn't afraid of making a nuclear weapon but doesn't intend to do so.
Iranian state television on Thursday quoted President Mahmoud Ahmadinejad as saying: "If we do want to make a bomb, we are not afraid of anybody."

Iran has long insisted that its nuclear programs are peaceful and meant only to generate power for a future nuclear reactor network.

But the U.N. Security Council has passed four sets of sanctions against Iran for refusing to freeze activities that could be used in a weapons program.

The U.N. says Iran also blocked an IAEA probe into allegations of secret experiments that could reflect attempts to develop an arms program.

NATO said Sunday it was investigating Libyan claims that nine civilians, two of them of toddlers, were killed in an alliance air raid and would be "very sorry" if that were the case.
             
"NATO is looking into this matter," said spokesman Wing Commander Mike Bracken. "NATO was operating in Tripoli last night, conducting air strikes against a legitimate military target."
             
Libyan government spokesman Mussa Ibrahim told AFP that a NATO air strike on a residential district of Tripoli early on Sunday killed nine people, five of them from the same family, and wounded 18.

The Obama administration has intensified the American covert war in Yemen, exploiting a growing power vacuum in the country to strike at militant suspects with armed drones and fighter jets, according to American officials.

The acceleration of the American campaign in recent weeks comes amid a violent conflict in Yemen that has left the government in Sana, a United States ally, struggling to cling to power. Yemeni troops that had been battling militants linked to Al Qaeda in the south have been pulled back to the capital, and American officials see the strikes as one of the few options to keep the militants from consolidating power.
On Friday, American jets killed Abu Ali al-Harithi, a midlevel Qaeda operative

Delta Airlines is apologizing to 34 U.S. Army troops who just returned from Afghanistan.

The reason? They had to pay some $2,800 in baggage fees, reports Steve Higgins of CBS affiliate WGCL in Atlanta.

In a video posted on YouTube, one solider says, "Not happy, not happy at all. We had a little issue with the bags this morning."

Most of the GIs, it seems, had four bags. Delta only allows three for free in coach, "and anything over three bags, you have to pay for," another soldier said, "even though there's a contract between the U.S. government and Delta Airlines."

The soldiers say their orders allow them to bring four bags on board -- for free.

They are the gruesome images that are testament to the trouble that has hit one Mexican city which has become a flashpoint for the war on drugs.

Two young men, cut down in the prime of their life, were left hanging from a pedestrian bridge as warring drugs cartels continue to fight in Monterrey

One of the men was was missing a foot and had been stripped down to just his underwear while the other's clothes were splattered with blood.

Mexico's rival crime gangs are in an arms race, and the latest sign of that are the homemade "Mad Max" type heavily armored vehicles they deploy to withstand fierce clashes with each other.

The army found two more "narco tanks" over the weekend in Ciudad Camargo in Tamaulipas state along the border with Texas.

In earlier discoveries in April and May, armored vehicles found by authorities contained swiveling turrets, snipers' peepholes and gadgets to dump oil and scatter tire-puncturing nails on roadways.

The latest discovery showed that the gangs are upping their game. The two armored vehicles were cloaked in inch-thick steel plating. Built on a three-axle truck bed with a heavily armored cabin, the latest "narco tanks" are far larger than previous versions.

Russian Deputy Prime Minister Sergei Ivanov says NATO is "one step" from sending troops into Libya in a bid to help rebels remove Moammar Gadhafi from power.

Ivanov said Sunday at an Asian security conference in Singapore that Russia didn't know that a United Nations resolution it supported to protect civilians and shut down Libyan air space would lead to a land operation.

British and French attack helicopters struck for the first time inside Libya on Saturday. NATO had previously relied on attack jets generally flying above 15,000 feet (4,500 meters).

NATO airstrikes have kept the outgunned rebels from being overrun, but the rebels have been unable to mount an effective offensive against Gadhafi's better-equipped forces.

Minutes after approving Mr. Boehner’s measure, the House defeated an even more strongly-worded resolution offered by Rep. Dennis Kucinich, Ohio Democrat, that would have insisted the president begin a withdrawal of troops.

Most lawmakers said that was too rash at this point, and said they wanted to give Mr. Obama time to comply. Some also said immediate withdrawal would leave U.S. allies in the lurch.

The Kucinich resolution failed 148-265. In a telling signal, 87 Republicans voted for Mr. Kucinich’s resolution — more than the 61 Democrats that did.

The Chinese military accused the U.S. on Friday of launching a global "Internet war" to bring down Arab and other governments, redirecting the spotlight away from allegations of major online attacks on Western targets originating in China.

The accusations Friday by Chinese military academy scholars, and their urging of tougher policing of the Internet, followed allegations this week that computer hackers in China had compromised the personal Gmail accounts of several hundred people, including government officials, military personnel and political activists.

Google traced the origin of the attacks to the city of Jinan that is home to a military vocational school whose computers were linked to a more sophisticated assault on Google's systems 17 months ago. China has denied responsibility for the two attacks.

The Pentagon has concluded that computer sabotage coming from another country can constitute an act of war, a finding that for the first time opens the door for the U.S. to respond using traditional military force.

The Pentagon's first formal cyber strategy, unclassified portions of which are expected to become public next month, represents an early attempt to grapple with a changing world in which a hacker could pose as significant a threat to U.S. nuclear reactors, subways or pipelines as a hostile country's military.

In part, the Pentagon intends its plan as a warning to potential adversaries of the consequences of attacking the U.S. in this way. "If you shut down our power grid, maybe we will put a missile down one of your smokestacks," said a military official.

U.S. troops fighting in Afghanistan paused Monday to remember the fallen in Memorial Day services, as a war nearly a decade old trudges on.

Some prayed and held flag-raising ceremonies at dawn to recognize the more than 1,400 killed in combat here since the Sept. 11, 2001 attacks that triggered the war.

"We reflect on those who have gone before us. We reflect on their service and their sacrifice on behalf of our great nation," said Brig. Gen. Lewis A. Craparotta, who commands a Marine division in Afghanistan's southern Helmand province. "We should also remember those serving today who embody that same commitment of service and sacrifice. They are committed to something greater than themselves and they muster the physical and moral courage to accomplish extraordinary feats in battle."

Veterans in New Haven, Connecticut, are outraged over the vandalized memorial at Long Wharf. Spray paint now covers the names of many veterans who fought and died in that conflict. The El Salvadoran gang, known as MS-13, is believed to be responsible for

Call it what you want I call it treason, when senators who are supposed to be doing the bidding of the people decide on their own during the holidays to kill the border fencing when the people called and sent emails in support of this fence it shows simpl