Category Archives: CurrentEvents

Sovereign-debt theories: Domino theory | The Economist

Dubai’s sovereign credit-default-swap spreads soared to their highest level in a year this week, amid concern about the terms of a debt restructuring by a state-owned conglomerate. There is increasingly shrill commentary arguing that Greece is the start of a far bigger problem. “A Greek crisis is coming to America”, blared the headline on aContinue reading “Sovereign-debt theories: Domino theory | The Economist”

Cheney Admits to War Crimes, Media Yawns, Obama Turns the Other Cheek

“I was a big supporter of waterboarding,” Cheney told Karl, as if he were issuing a challenge to officials in the current administration, including President Barack Obama, who said flatly last year that waterboarding is torture, to take action against him. “I was a big supporter of the enhanced interrogation techniques…” via Cheney Admits toContinue reading “Cheney Admits to War Crimes, Media Yawns, Obama Turns the Other Cheek”

Wall Street’s Bailout Hustle : Rolling Stone

God bless MATT TAIBBI. He got it right again! This is the most important issue in America right now and the only magazine to deal with it right is Rolling Stone? Goldman Sachs and other big banks aren’t just pocketing the trillions we gave them to rescue the economy – they’re re-creating the conditions for another crash.Continue reading “Wall Street’s Bailout Hustle : Rolling Stone”

Wall St. Helped Greece to Mask Debt Fueling Europe’s Crisis – NYTimes.com

This morning I awoke to see this story on the front page of the New York Times. Basically, this is all due to Greece’s desire to gain inclusion into the EU. Membership requires achieving certain macroeconomic targets like budget deficits, rate of inflation, social welfare spending. They are basically the same kinds of economic targetsContinue reading “Wall St. Helped Greece to Mask Debt Fueling Europe’s Crisis – NYTimes.com”