Hard hitting global and local news
Problem in Europe is Arithmetic, Not Confidence; Why the Eurozone Cannot Possibly Survive Intact Via email, Michael Pettis at China Financial Markets makes a compelling case why Spain is destined to leave the euro. For ease in reading, I added the subtitles in bold
Read More: Heartaches by the Number: Just 14% Think Today’s Children Will Be Better Off Than Their Parents; Just 24%…
There may have been some confusion about what Romney actually said about culture and economic success, so I thought I would document it: I recognize the power of at least culture and a few other things….As you come here and you see the G.D.P.
Astounding hypocrisy, self-censorship, and complicity by the West regarding one of the most regressive regimes on Earth. by Tony Cartalucci August 9, 2012 – The Cooperation Council for the Arab States of the Gulf (GCC) comprises of 6 nations, Saudi Arabia, Qatar, Bahrain, Kuwait, the United Arab Emirates, and Oman. In principle, Kuwait and Bahrain are considered “constitutional monarchs,” in practice, all 6 are despotic autocracies with Saudi Arabia, Qatar, the United Arab Emirates, and Oman overtly “absolute monarchs.” Devoid of even a feigned semblance of representative governance, these regimes brutally repress not only their own subjects, but play active roles in repressing the people of other nations, both on their borders and well beyond them.
In an effort to rein in costs, the city of Camden NJ will fire its entire 270 member police force and instead will use Camden County officers. Mayor Dana Redd and Police Chief Scott Thomson noted that for the same price, Camden can have 400 county officers on staff. That is nearly a 50% increase in the number of officers for the same price
Eli Rabett Eli Rabett Eli Rabett is a not quite failed professorial techno-bunny, a chair election from retirement, at a wanna be research university that has a lot to be proud of but has swallowed the Kool-Aid. The students are naive but great and the administrators vary day-to-day between homicidal and delusional. His colleagues are smart, but they have a curious inability to see the holes that they dig for themselves.
Rabett Run has today’s SSMIS map from Uni Bremen and is now taking bets that before the end of summer there will be no ice in the Arctic below 90N 80N. A few more days of the cyclone and the Bunny may have to offer odds. Neven as usual has the details
No entity is willing to stand up and say the obvious, that Greece is insolvent and cannot and will not pay back its debts. Moreover, in spite of an ECB mandate that prohibits direct financing of governments, the ECB is doing just that. Simply put, the ECB is printing euros, to give to the Greece, so that Greece can make interest payments to the ECB on maturing bonds
Eli Rabett Eli Rabett Eli Rabett is a not quite failed professorial techno-bunny, a chair election from retirement, at a wanna be research university that has a lot to be proud of but has swallowed the Kool-Aid.
See more here: Saudi Arabia Revolution May Ruin NATO’s Syria Plans