Interconnectedness was supposed to be globalization's advantage.
Considerations: As the slaughter in Libya reaches a crescendo, the US and NATO have begun discussing “humanitarian intervention”. How is this different that the humanitarian crisis in the Sudan? Oh wait, that's China's oil.
The Battle Is Joined: They keep saying there's no class war in this country. They lie. What's going on in Wisconsin is the opening salvo in the corporate plutocrats' attempt to impose a rigid right-wing conservative vision on the former middle class, to end collective bargaining, to abolish tenure, to sell off government properties to their friends – to do to us what they've done overseas for the last 40 years through the IMF and corporate raiders and the World Bank. The only budget to which this really applies is that kept by the Koch brothers and their ilk.
Oil Patch Humor: “Officials there have discovered approximately 70 major oil fields that they have left untapped over concerns that increased Saudi production would cause global oil prices to collapse.” Don't worry, “There is no reason for oil prices to rise because Saudi Arabia and OPEC won’t allow shortages to exist.” So sayeth the Saudis. Could you define 'major', please, then show me on the map... Oh, wait, the article is by Michael C. Lynch, Mr. $20 oil himself. Never mind.
What Will They Think Of Next? Arizona’s Republican-run Senate wants to require that foreclosures contain a complete chain of ownership for the property, that each change of ownership be recorded at the courthouse at the time of the transfer, and that recording fees be paid.
Things That Go Bump In The Night: Under cover of darkness early Friday morning, Republicans in the Wisconsin Assembly passed a bill stripping collective bargaining rights from public workers and sent it to the Senate, where Democratic Senators remain on strike.
Hit & Run: The combined number of houses owned by the taxpayers through Fannie, Freddie and the FHA is now just shy of 300,000 units. More than enough to meet the current annual demand for new houses. But these aren't new – just a bunch of repos.
Pot/Kettle: A government study found that the US has wasted tens of billions of dollars on the wars in Iraq and Afghanistan. Another study will soon find that the money spent on this study was pretty much a waste, too.
Better Late Than... The US has announced sanctions on the Gaddafi regime in Libya, so we can tell which way that wind is blowing. Meanwhile tens of thousands are in Yemen's streets and in the public squares of Baghdad. Stay tuned for the White House to figure out what it's safe to say, and when.
Shave: Fourth quarter GDP was revised downward from 3.2% to 2.8%. Let's have 10% less enthusiasm, please.
Surrender: The EPA has given in to the GOP and has revised air pollution rules to permit thousands of industrial boilers and incinerators to
keep polluting our air and driving global warming meet federal air quality standards.
Dispassionate Analysis: “Global economic growth is not such a fragile beast that a spike in oil prices of $US10 or even $US20 will cause much harm. Define the duration of a 'spike' and describe how “much” is “much”.
Good/Bad/Ugly: Freddie Mac only lost $113 million in 4Q 2010 and just $14 billion for the whole year. It expects house prices to fall further, and needs another $500 million advance on its allowance.
Porn O'Graph: Wisconsin Roadmap.