Hard hitting global and local news
February 28, 2013 (LD) – The US State Department, and to a greater extent, US foreign policy itself, having exhausted completely their collective credibility, has attempted yet another “reset.” By bringing in John Kerry to pose as the next US Secretary of State, it is hoped global opinion will see US foreign policy in a new, more tolerant light.
View article: Is Inflation the Legacy of the Federal Reserve?
What Bernanke Didn’t Say About Housing (And Everything Else); Bernanke’s Ploy Caroline Baum had some interesting comments about Bernanke’s testimony before Congress in her writeup What Bernanke Didn’t Say About Housing . One of the more interesting exchanges at Ben Bernanke’s testimony to the Financial Services Committee today was the one between the Federal Reserve chairman and Representative Scott Garrett, a Republican from New Jersey.    Citing Bernanke’s assertion that one of the benefits of QE had been the rise in home prices, Garrett said the following: "Previously you have said that the Fed’s monetary policy actions earlier this decade, 2003 to 2005, did not contribute to the housing bubble in the U.S. So which is it?
View the original here: Elizabeth Warren Grills Bernanke on "Too Big to Fail" Policy
France Unemployment Highest Since 1997 In the easy to see coming category (thanks to the socialist policies of French president Francois Hollande) French unemployment level hits 15-year high . Unemployment numbers in France rose by 43,000 in January to 3.16 million, an increase of 10.7 percent from last year, the labour ministry revealed on Tuesday. The figure is at its highest since January 1997, when it reached 3.19 million.  Rising unemployment is a setback for Socialist President Francois Hollande, who has pledged to curb the unemployment rate from the current level of more than 10 percent to a single-digit figure by December.
PIER LUIGI BERSANI – PARTITO DEMOCRATICO – 8,399,991 Votes – 27.43% GIUSEPPE PIERO GRILLO – MOVIMENTO 5 STELLE – 7,285,648 – 23.79% SILVIO BERLUSCONI – IL POPOLO DELLA LIBERTA’ – 6,829,135 Votes – 22.30% MARIO MONTI – SCELTA CIVICA CON MONTI PER L’ITALIA – 2,797,451 Votes – 9.13% The center-left received a higher percentage of votes than the center-right by a 31.63% to 30.72% margin. However, Senate seats are assigned based on regional totals and the result will be something like a 119 to 117 spit with the Five Star Movement picking up 54 Seats. A majority takes 158 so no coalition is likely
Read this article: US State Department’s "Syriasly" Campaign Reaches New Level of Absurdity
Grillo 57 Monti 17 There are 315 total seats and the total above is only 301. Although 14 seats remain, not even a Monti-Bersani coalition in addition to those 14 seats would bring Bersani’s total to 158. Curiously, it appears Bersani received a plurality of the Senate popular vote with 32% compared to Berlusconi’s 30.2%.
View article: Real Time Italian Election Data and Projections; TV Projections Show Berlusconi Coalition Leading in Italy Senate
See original article: Italians Head to Voting Booths, Election Ends 9:00AM EST Monday; Surge for Grillo and "The Apathy Factor"…