That Was a Fun Experiment in Efficient Markets - 5/21/2012
Here's what we're following this morning:
The hilarious G-8 declaration, decoded - Robert Brusca | Rest easy, Citizens! Your leaders are working behind the scenes to ensure your further descent into madness.
Who's vulnerable to the Eurozone crisis? - VoxEU | Still thinking that decoupling is an option? You may want to think otherwise.
Merkel urged to boost growth - Financial Times | When there's only one man left to row the boat, it's not like he's going to grow an extra set of arms. Unfortunately, that doesn't stop the EU summit from raising even more pressure on Merkel. What happens when German taxpayers get wind of what will be "asked" of them with any new proposal?
Where are the women in the global crisis? - Counterpunch | In a word? Everywhere.
Germany is the big loser, not Greece - New Economic Perspectives | Germans might say "enough is enough" and leave the Eurozone, but that would mean Germany would have to bail out its banks. That would be incredibly difficult considering that the country and the banks wouldn't have access to other country's CB deposits.
Rajoy downplays Hollande's notion on rescue plan for Spanish banks - El Pais | I love it when newly-elected leaders start putting their noses in other countries' matters AND start back-peddling on campaign promises all in the same week. In this case, though, "It's just a flesh wound" isn't the most accurate description in this worsening situation.
Trust in America? - Bruce Krasting | "There is a near zero chance for America to address the fiscal cliff that is coming on 1/1/2013 before the election. I think there is also a zero chance that it will get resolved in the six-weeks following the vote. Those G8 leaders have every reason to be worried. So should the markets."
US Congressmen seek to lift a ban on propaganda - Buzzfeed | The bill's supporters say that the informational material used overseas to influence audiences is "too good not to use at home." There's that bogeyman again, too: "new techniques are needed to help fight [terrorism]."
In Britain, unpaid jobseekers are delivering patient care in three hospitals - The Guardian | This would be a great way for people to gain experience were it not for the fact that thousands of staff are ALREADY facing the prospect of losing their jobs and that hospitals are ALREADY closing.
The history of the US electric grid - Boing Boing | It may not be easy to protect a system whose origins are scattered, distributed geographically, technologically, and philosophically.