Hard hitting global and local news
Argentina "Determined to Default" Second Time Background: Argentina defaulted on bonds following a debt crisis in 2001-2002. 92% of the investors agreed to haircuts, but a vulture fund picked up an 8% share at rock bottom prices and refused to negotiate. In June, the US Supreme Court ruled that Argentina Cannot Selectively Default on the small group of hold-outs.
First, please consider the New York Times article Chinese Recovery On Paper . The National Bureau of Statistics in Beijing announced on Wednesday that economic growth climbed 7.5 percent in the second quarter, compared with a year earlier. But independent surveys of businesses across China show that in sector after sector, sales and confidence are still deteriorating.“All of them are pointing in the opposite direction from this supposed G.D.P
Please consider the fate of Siberia Airlines Flight 1812 Siberia Airlines Flight 1812 crashed over the Black Sea on 4 October 2001, en route from Tel Aviv, Israel to Novosibirsk, Russia. The plane, a Soviet-made Tupolev Tu-154, carried an estimated 66 passengers and 12 crew members. No one on board survived
Also consider an excellent post by Tenebrarum on the Misguided Urge to Close Loopholes . Recently Apple’s CEO was forced to defend his company’s use of such loopholes in front of a very hostile Congress.
Taken from: Making Sense Out of "Contradictions That Make No Sense"
The same article, by the same author, appears on Yahoo!Finance as In U.S. Data, a Contradiction That Makes No Sense .
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UK Prime Minister David Cameron’s #1 Priority: Maintenance of Government Spying UK’s prime minister, David Cameron, is so in love with state monitoring of internet and phone calls that he supports an emergency data law to underpin security surveillance David Cameron is to push though emergency laws to allow police and security agencies to maintain access to phone and email data, amid warnings that vital security operations were about to be compromised without it. Telecoms operators and the security services told the prime minister they were on the cusp of having to curb some of their most important electronic eavesdropping activities after a European Court of Justice ruling struck down the legal framework that allowed telecoms companies to retain data for a year, according to government and industry figures. Operators were also threatening to delete details of UK customers’ data for fear of being sued by them, unless the coalition set down a clearer legal framework around intercepting terrorist and criminal communications.