Lot’s of things flying apart, center not holding. Strange beasts slouching towards Bethlehem?
– The debtor Euro nations and half the world’s economists are pleading with the European Central Bank to stop the runs on the Euro countries and banks by doing what a central bank is supposed to do: be the lender of last resort. But the new head of the ECB refuses, foolishly worrying it might hurt the central bank’s credibility. That means the Euro financial system and economies could crash and pull the US economy down too. Paul Krugman: “In short, the ECB could be in the process of destroying not just the euro, but the world.”
– The Washington Post is dismayed that the Super Committee is about to fail and blames that for declining markets. Uh, don’t think so; everyone’s watching Europe blow itself up for doing to itself what the Post wants Congress to do to the US. The Super Committee never came close to doing anything positive. The sensible part of the world is breathing a sigh of relief that our Congress is so dysfunctional it failed to agree on hurting the US economy even more.
– Spain just elected a center-right party to replace the Socialists, in the understandable belief it takes someone new to fix the economy. Unfortunately the new party, like the new “technocrats” installed in Italy and Greece, is stuck in the austerity mindset and has no clue what to do.
– It’s now over 30 people who have been killed in Egypt where tens of thousand gathered at Tahrir Square to protest the military’s grip on the emerging government. Siun has more.
– Apparently, the GOP presidential candidates held a religious forum yesterday in which each candidate got an opportunity to make Jesus weep.
– Nascar fans think it’s okay to boo the First and Second Ladies. Yes, those two women are responsible for everything that’s wrong in their lives.
– California is saved! An new panel of experts bankrolled by a billionaire is proposing that the way to solve California’s budget woes is to cut taxes.
– Meanwhile the Lt. Pepper Spray’s image has become the symbol of the attitude of the world’s leaders. If you won’t address real problems, spray the protestors, or anyone; it doesn’t matter.
So, is there any good news out there?