No country can survive being rendered a laughingstock.
Time Saver: PPIP is not about "price discovery", it is a way of paying banks 80 cents for a 30 cent apple. The government is aware the banks are "gaming" PPIP from both ends, increasing the marked price of the apples and forming secret entities to join PPIP and buy them at the higher prices. Now you can skip all the rest of the articles about PPIP. Go eat your breakfast.
Headline Only: One in 10 Americans is on food stamps.
Countdown: The unemployed now number over 13 million, and another 5.5 million have stopped looking, thus are not counted as unemployed. That brings unemployment to nearly 12%. Then there there are the "marginally attached" who, if they counted, would swell the unemployment number to over 15.5%. Swell, just swell.
Geithner: Secretary Geithner denies that the White House is helping CEO's avoid the pay limits passed by Congress; rightly so, for they are quite capable of doing it unaided.
Damned Poor Idea: A dam planned for the Xingu River, the Amazon's largest tributary, will flood about 200 square miles. It is the first of a dozen major dams planned to improve life in the jungle region. It will provide power so more people can settle in the area, destroying ever more of the rain forest in the name of progress.
Just As We Suspected: "Senior S&L Regulator Says Government Engaging in Massive Cover-Up of Economic Crisis: 'The Entire Strategy Is to Keep People from Getting the Facts."
Counterinsurgency: Nearly a million Pakistanis have become internal refugees, seeking to escape being "inadvertently killed" by American Predator drone attacks. Like their Iraqi counterparts, their displacement does not make headlines. It does make Taliban recruits.
Wrong Question: The headline asks, is this "The end of Christian America?" Given our national behavior, one could hope.
Asked & Answered: Has America become numb to tragedy? Yes.
Anchor Away: An ice bridge anchoring the Wilkins Ice Shelf to land has shattered. It will not immediately raise ocean heights, but is one more step towards a much warmer world. Some 80% of Arctic ice may disappear in 30 years, not the 90 years as scientists had previously estimated.
Clip & Save: "I don’t think we have any concerns about disruption to the navigation” in the Persian Gulf. "Certainly nothing from Iran." General David Petraeus.
Piper, To Be Paid: Homeowners are not amused that their tax apprasials have not fallen nearly as rapidly as their house values. Record number of assessment appeals are being filed and nearly 40% of them are successful. City treasurers are not amused, either.
Move Along, Nothing to Be Seen: US Treasuries continue to slide as bond traders worry over the $3.25 trillion the US needs to borrow this year. We've decided to name the 300 pound gorilla "Inflation."
Prophalaxis: There is no evidence that mortgage modifications are any more successful at preventing delinquencies than Virginity Pledges are at reducing teenage pregnancies.
Toil and Trouble: How come we have the housing bubble and how housing prices got simply too high, the credit bubble and how credit was extended far too recklessly, but we don't hear about the stock market bubble where stocks were unreasonably priced? Nope, 14,000 made sense. Right. But what if ? Say 3,800 on the Dow for a few years...
Porn O'Graph: Bear Hunting or Bull?