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POLITICO Thu, 19 Jan 2012 06:00:31 EST
Pakistan to re-open NATO supply lines
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GOOGLE Fri, 09 Dec 2011 14:19:22 GMT
Well, Europe has had its big summit and announced A HUGE NEW PACT TO FIX THE CRISIS and everyone's ecstatic and the market is soaring.
And that's great. Everyone loves a soaring market.
Of course, if the market continues to soar, it will only be because the everyone has been completely fooled and distracted by the lovely smoke and mirrors show Europe just put on.
A couple of weeks ago, you will recall, Europe really was headed toward an imminent collapse: Italian borrowing costs had spiked over 7%, with interest rates in Spain and other countries close behind. Interbank lending was seizing up. Germany was stomping its feet and refusing to do anything. The European Central Bank was refusing to do anything.
The whole Euro project, everyone agreed, was probably doomed, because of the fundamental problem of putting countries with vastly different productivity, efficiency, and financial situations on the same currency without completely integrating their budgets, taxation,.....
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GOOGLE Thu, 17 Nov 2011 20:01:00 GMT
Someone in the newsroom just reported that, having been thwarted in their attempt to close the New York Stock Exchange this morning, the Occupy Wall Street protesters are now headed to Union Square.
And there were faint, but audible, groans in the newsroom.
Because Union Square is near our office. And that means the protesters might snarl up traffic and mess with our commutes and appear to be protesting us--just for doing our jobs.
So I'll just go ahead and admit it:
I think the protesters have a point. And I think they have made that point here in New York.
And I wish they would now take the message to Washington, which is where the problem really lies.
Yes, the bank bailouts were odious. Yes, Wall Street bankers make boatloads of money. Yes, income inequality in this country has hit a level that is wholly un-American and has not been seen since the 1920s. Yes, the unemployment rate is still shockingly high. Yes, corporate profits are at an all-time high.
But as....
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