After an eternity of dithering and pretending that Greece might somehow find a way to repay its debt, Europe has finally taken action with its banks agreeing to take a 50% haircut on their Greek debt. That global stocks surged after major European banks just lost half their investment in Greek bonds, speaks to the...
Monthly Archives: October 2011
What the Hell is Wrong Rick Perry?
Just when you thought Rick Perry could not possibly do anything more to sabotage his presidential campaign, he decides to go out and revisit the ridiculous “birther” issue. One would think that he would have learned something from watching Donald Trump make a fool of himself several months ago by harping on the issue, but...
The Celebrification of US Presidential Politics
Mitt Romney is going to be the Republican nominee for the 2012 presidential race. It doesn’t matter that he is Mormon, it doesn’t matter that everyone knows that deep down he is pro-choice, and it doesn’t matter that he and Barack Obama had the same idea for health care reform. He is going to be...
Greek Water Torture
I have lost track of how long Greece has been slowly marching towards insolvency and default but this story is starting to look like it was written by Homer. The pattern of repeated market surges on hopes of a resolution followed by selloffs on fears of a default have taken on an almost Groundhog Day...
It’s the End of the World as We Know It (and I feel fine)
It’s the End of the World as We Know It (and I feel fine) In case you missed it, the world as we know it is once again about to come to an end. Much like 2008, a pile of bad debt is threatening to create another credit crunch and send the world into another...
