It All Changed Four Years Ago - 5/9/2012


Here's what we're following this morning:

German lawmakers are preparing for a Greek eurozone exit - Handelsblatt via Zero Hedge | But...but...they said it would never happen!

New documents shine a light on euro birth defects - Der Spiegel | Imagine that: a pol instituting austerity measures as window dressing.

Borrowers face big delays in refinancing mortgages - Wall Street Journal | Still, the refinancing burst has been lackluster by historical standards due to the fact that fewer people are employed and due to the fact that lending institutions have become stricter in their lending standards.

The grim future of the Supreme Court - Mother Jones | The power of the Senate is laid bare, and people aren't liking what they're seeing.

Here they come: Greek left attacks "barbarous" austerity - Financial Times | The thing is, Left or Right, austerity will never, ever be truly implemented because no pol wants to see his country's buildings burned in protest.

If you want to understand the full complicity of Wall Street in the Great Recession, read these emails - Bloomberg | "The Bros always wins!!" [sic]

Still think gold is in a bubble?  More people own Apple stock than gold. - GoldCore | "Apple, frankincense, and myrrh?"  No.  "Coin of the realm, frankincense, and myrrh?"  No.

Hugh Hendry on Europe: "You can't make up how bad it is." - Milken Institute 2012 Global Conference | "We are single-digit years away from the most profound market-clearing moment."

Sinn Fein joins Ireland's austerity backlash - Financial Times | Guess how regional wars start?  As civil wars.

Death to austerity - Truthdig | Nothing like "growth" to become more important than cutting government spending.  But spending will never and can never be cut, at this point.