The Cheech and Chong Test - 6/4/2012
Here's what we're following this morning:
A quick Eurocrisis summary - Bloomberg, Dow Jones, Reuters, Financial Times via Zero Hedge | Come for the news, stay for the "Fear and Loathing" clip.
Fed reviews former plot lines - Financial Times | For the 3rd year in a row, there is an economic slowdown in the US. This one, however, may be the most wretchedly disappointing of them all.
EU bailout of Spain "not ruled out" - El Pais | "We will just have to live with it like Portugal has been doing in a relative peaceful way." Portugal sure has been killing it lately (here, here, and here); and I love how the PP lawmaker said that the peacefulness was "relative."
Market volatility soon to be just a distant memory - Dealbreaker | We talked about the new SEC circuit-breakers on the show on Saturday. What these new limits are implying is that market speeds are superhuman: only a machine could take 5 minutes to make the kinds of decisions that the SEC is suggesting.
Is your supermarket throwing away foods before they expire? - Mother Jones | Imagine the number of people (people who REALLY need the food) who could be fed with the amount of this simple waste. If you're hungry, you're not going to care that the yogurt is a couple of days past expiration.
The party's over - Mark Steyn via Never Yet Melted | The late-20th-century lifestyle isn't going to be around much longer.
Everything is getting gummed-up in Greece - Testosterone Pit | First, tourism; then, healthcare. Now, the lights are literally about to go out in Greece...and our administration wants to blame German leaders for refusing to shovel more money into a deep, dark hole?
The "We-Fixed-Nothing" chickens are coming home to roost - Charles Hugh Smith | The global status quo has fixed nothing in the last four years. And what are we hearing more of from our "leaders"? Let's keep doing the same things that we've done in the past. Larry Summers has a new piece (here, but with a gentle reminder about Summers' success rate here) out that basically says "In order to lose weight, you need to eat more calories."
What do economists [sic] think about the Eurozone crisis? - VoxEU | I'll give you a hint: "Rien n'est mauvais." "Nada esta mal." "Nulla e sbagliato." Oh, and, "Nao ha nada de errado."
North Carolina outlaws sea level rise - Dangerous Minds | Willful ignorance will not be a valued survival skill for the species as time goes on.