Hard hitting global and local news
Originally posted here: NY Subway May Take Weeks to Restore Service, 5 Million Affected; 80 Flooded Homes Destroyed by Fire;…
Greece Coalition Splinters, Austerity Vote Delayed, PM Warns of ‘Chaos’; Another Puppet Show or Is This For Real? In Greece, Prime Minister Antonis Samaras coalition has split.
Please consider Hurricane Sandy’s Waters Flood Blacked-Out New York City . Hurricane Sandy sent floodwater gushing into New York’s five boroughs, submerging cars, tunnels and the subway system and plunging skyscrapers and neighborhoods into darkness. Two deaths were reported in Queens and more than 670,000 were without power in the region as of 11:30 p.m.
Berlusconi Attacks Monti and Germany Berlusconi is back with a frontal attack to Mario Monti, Germany, Angela Merkel and the EU imposed austerity during a 1.5 hours press conference near Milan on Saturday, 10/27. Berlusconi might withdraw support to Monti’s government already this week leading to early national elections in January or February. This will be fought tooth and nail by the Italian and EU establishments. Berlusconi wanted to announce the withdrawal of his support for Monti’s government already during the call on Saturday but his family and counselors managed to convince him ponder the decision for a few more days.
Continue Reading: Retail Sales in Spain Plunge 10.9%, Largest Drop on Record; All Pain, No Gain
More than half of college graduates move back home, sociologist Katherine Newman wrote in her book, " The Accordion Family: Boomerang Kids, Anxious Parents, and the Private Toll of Global Competition ," based on surveys conducted worldwide.
Poll Shows Overwhelming Support for Secessionist Candidates in Catalan Election Posted by Michael Shedlock at 12:44 PM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy
Mass Firings Soar at Fastest Pace Since 2010; What’s the Impact on Unemployment? In precisely the kind of news president Obama does not want heading into the election, Ford (F), Dow Chemical (DOW), DuPont (DD), and Advanced Micro Devices (AMD) all announced mass layoffs this past week as Firings Reach Highest Since 2010 . North American companies have announced plans to eliminate 62,600 positions at home and abroad since Sept.
Follow this link: Fed and ECB Smokescreens to Print Money
This morning Markit released Eurozone, France, and Germany preliminary PMI reports. All show further deterioration