What's the Windows ALT Code for Central Bank Intervention? - 5/17/2012

5/17/2012

Here's what we're following this morning:

Greece was just an appetizer: Spain is the main course with Moody's announcement of ratings downgrade - Expansión via Zero Hedge | This isn't helping the fact that recently-nationalized Bankia deposits are falling due to heavy withdrawals from customers.

European banks want to make rating agencies stupider - Dealbreaker | If the Fed and the OCC think a bank is sound, and Moody’s and S&P think it is investment grade, who are you to worry about its creditworthiness?

The banks have enslaved us: a 12-year-old girl's devastating critique of the banking system - Dangerous Minds | Presented without comment.

The prospects for European disunion - Counterpunch | Disunion will be avoided at all costs, but each leader will be pandering to a unique audience.

"No difference between giving money to Karzai government and burning it." - Russia Today | The quote is attributed to critics of German funding of Afghanistan support.  When you couple that statement with the implicit statement from US officials that no peaceful solution is possible with Syria, the region is anything but stabilized after years of occupation and billions of dollars spent.

Biggest price rise in wheat in 6.5 weeks on dry-weather threat - Reuters | At some point, riots will no longer be blamed on "fanning the flames of democracy."

China investment boom starts to unravel - Financial Times | If the assessment is correct, the Chinese economy is in more trouble than headline GDP figures have indicated until now.

Private equity plays a role in the mideast and Africa - Wall Street Journal | With the economic hitmen, everything (and we do mean EVERYthing) is a business model.

Broken promises on taxes and health care - Washington Post | The country is steeling itself for more campaign-trail promises and for the aftermath come January, 2013.

Another 2008-style crisis is coming - Chris Martenson | Forestalled is not foregone.

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