Hard hitting global and local news
Visit link: Mish on Capital Account: Discussion of Social Media Panic in Italy, Soaring Yields in Spain, and the Upcoming…
On the good news front, an excellent post from David Roberts on the amount of emissions the US has cut in recent years. Go read
El Pais reports Full Spanish Bailout Increasingly Likely "The financial credibility of Spain is close to zero. Fiscal credibility is zero. The political credibility is zero.
At long last, everyone is willing to wave the white flag on a Greece exit from the eurozone. Please consider German Vice Chancellor ‘Very Skeptical’ Greece Can Be Rescued . German Vice Chancellor Philipp Roesler said he’s “very skeptical” that European leaders will be able to rescue Greece and the prospect of the country’s exit from the euro had “lost its terror.” Roesler, who is Germany’s economy minister, told broadcaster ARD that Greece was unlikely to be able to meet its obligations under a euro-area bailout program as its international creditors hold talks this week in Athens.
I’m very glad to see this: I’ve been arguing for this type of analogy for years . There are alot of people out there, especially high school age students but not just them, who haven’t thought much about statistics and how they apply to weather and climate
On Saturday, Bloomberg reported Six Spanish Regions May Seek Bailout After Valencia The Balearic Islands and Catalonia are among six Spanish regions that may ask for aid from the central government after Valencia sought a bailout, El Pais reported.
View article: Job Losses and Unemployment Skyrocketing in China; Thinner, Taller iPhone 5
Neven said… He INSISTS on straight odds, and got rather testy with me when i suggested that meant he thought there was an even chance of breaking the record. Oh my, that’s very funny! :-D—This is very difficult
Please see Target2 and the ELA (Emergency Liquidity Assistance) program; Reader From Europe Asks "Can You Please Explain Target2?" for a more compete description. There is much misinformation floating around on how Target 2 works, what Germany’s liabilities are, so please click on the above link if you are interested in target 2 balances. The following chart from PIMCO article TARGET2: A Channel for Europe’s Capital Flight shows the capital flight through March
Link: Voters From Both Parties Overwhelmingly Support Big Defense Cuts