In the long run, all of this is temporary.
M&A: The European Commissions wants the power to put member states in “administration” which would greatly expand their reach in overseeing national budgets and budget priorities – especially seeing that eurobonds always get repaid and that doing so takes priority over “any other spending in … national budgets.” Tell me again about the popular election of the commissioners.
Plot Development: While everyone has been focused on Europe, Japan's pot has been coming to a boil. The IMF notes that questions of Japan's ability to sustain its debts may set off a sudden upsurge in its bond yields, which would “quickly” render its debt unsustainable.
Once & Future
KingUnion: Fiscal union is, and always has been, the only lasting solution to the eurocrisis. It will not be easy, nor quick. It will take political courage - for what elected leader has the courage to surrender a nation's sovereignty? Maybe none, which would explain the appointed leadership now running Italy and Greece. But the real impetus must come from the streets, which awaits further austerity, depression and suffering. But it does await.
Sad, True: Wannabe Romney, forgetting he's in the Republican herd, not a Democrat, has promised his first trip as president will be to Israel...
Generally Sincere: Egypt's military now says it is sorry that the protesters forced it to beat them, torture them and shoot them. Especially the shooting part, which drew too much attention. But not too sorry, and, oh yeah, they'll be holding sham elections soon! In Yemen, Saleh's pretense of handing control to his long-time henchman and vice-president was a non-starter, too.
Ah, A Clue: Global credit market debt has grown 12% a year for the last nine years, from $80 trillion to $210 trillion, while global GDP has grown at 4%.
Remember, You Break It, You Bought It. Once again the US is getting out of the nation-building business and will make anyone a good deal on Iraq and/or Afghanistan. Not to mention Libya, Somalia, Bosnia and Kosovo...
Noblesse Oblige: UC Davis will cover the medical expenses of the students pepper sprayed by the campus robo-cops. It was, after all, part of their education.
Lest Ye Forget: In the WSJ, November 20,2003, Newt Gingrich declared: "Every conservative member of Congress should vote for this Medicare bill. It is the most important reorganization of our nation's healthcare system since the original Medicare Bill of 1965 and the largest and most positive change in direction for the health system in 60 years for people over 65. ... If you are a fiscal conservative who cares about balancing the federal budget, there may be no more important vote in your career than one in support of this bill." Clip and save.
Ketchup: Megyn Kelly, a Fox News 'host' thinks that pepper spray is “a food product”. And that's one reason those who watch FOX news are less informed about the world than those who do not watch any news programming at all.
Know Thy Enemy: Here's a robocop training film showing the field application of militarized police tactics on peaceful political protesters. Added extra, the action described as "kettling" is demonstrated.