Negotiating with the Powerless - 6/26/2012
Here's what we're following this morning:
The Obamacare outcome matrix - BAML via Zero Hedge | Wait...what about the stipulation regarding medical service similar to the one Cuba has for its citizens? I didn't see that one in there.
EU plan to rewrite Eurozone budgets - Financial Times | T-minus how long until we see a United States of Europe? A German finance minister has already stated that a president of Europe is not out of the question. With this new plan, we have a European treasury that has power over national budgets. Since when is centralization a good thing in this market environment?
How the Euro might be derailed - Counterpunch | Alright. Nevermind that previous post about how everything is going to be roses and lollipops and unicorns and happiness in Europe with the advent of this most recent "plan." A bank run in Europe is real, has been happening to some extent, and will only intensify as the Commoners begin to understand what is being asked of their countries and themselves in the recent Way Forward.
Radioactive "dirt" hits Tokyo - Washington's Blog | 35 million inhabitants. And it's everywhere.
Japan lower house approves doubling of sales tax - Washington Post | "But somebody has to support the social security system, which benefits everyone." Sound familiar? If not, it will be all-too-real in the coming months as fewer people are working and the benefits systems are pushed to the breaking point.
The war against the young - Mother Jones | We already have race war and class war and gender war. Next up - age war. Listen, especially, to the campaign rhetoric from both candidates as we move into November: you will hear more talk of shadow segregation not just in terms of We and Them but words that help desensitize and de-identify the people on the other side of the argument. Thing is, both candidates are really just moderates in different ties.
Morgan Stanley suggests that CNBC check themselves before they wreck themselves - New York Daily News via Dealbreaker | Since when does CNBC create anything that is "fair, balanced, and insightful"? This is the station that fills programming slots with the same re-runs about porn, drugs, and bad money managers. Ho-hum. Remember this piece that Jon Stewart did about CNBC's less-than-stellar financial advice?
The loophole that placed MF Global customers at risk was (is) still being used - New York Times via Jesse's Cafe Americain | The CFTC did send a letter to brokers instructing them to stop using this loophole, which basically circumvents US rules and moves things to an international trading platform. Just because you send a letter, though, doesn't mean anyone will read it. I mean, how many Speed Limit 55 MPH signs are on the road...and you follow each and every one of them...right?
When will the stock market finally hit bottom? - Charles Hugh Smith | Hint: you're going to use the Nikkei as a guide to your study of this.
Crimes against rock 'n roll: is this the worst or most brilliant cover of "Hey Jude"? - Dangerous Minds