The day ends, the world appears unchanged; we are again deceived.
Addition, in addition: If you borrow $25,000 to buy a car, pay the money back and a few years later buy another car with another borrowed $25,000, how much money have you borrowed? If you borrow $100 million overnight, every night for, say, 1000 nights, how much money has the Fed lent you? $29 trillion and change. The change being converting the US Treasury and Federal Reserve into piggy banks for the entire world's financial institutions.
Tale of Two Cities: Brussels wants to take over the EU in the name of the eurozone nations. London does not think this should happen. If Merkozy go very far down the indicated path, it may or may not lead to the end of the euro. It most certainly will lead to the end of the European Union, which was a treaty between sovereign states.
At the Register: Amazon has a new ap for your smartphone that will instantly let them undersell any store, anywhere, anytime.... and give the user an extra $5 for evading the state sales tax. Retailers in stogy old malls think this is unfair. They are right, at least as far as evading the tax goes.
Getting Out the Vote:Newt the Wannabe, in an attempt to win the Israeli vote, has decreed that Palestinians - those folks whose parents and grandparents lived in Palestine before it became Israel - are "an invented" people with no right to any state of their own except wretchedness. Meanwhile, Rick the Wannabe Santorum has promised to reduce the cost of the food stamp program by not letting obese people eat. After all, " If hunger is a problem in America, then why do we have an obesity problem... ?" Now it's not just Cadillac Welfare Queens, its Obese Cadillac Welfare Queens that are ruining the country.
Finger/Spot: ".. the decision to provide the energy for industrialization by burning fossil fuels was the most consequential, although perfectly innocent, misstep human beings [have] ever taken."
Assignment: Yeah, it's the weekend and you don't need the downer, but read about LAPD's finest hour anyway.
Asked & Answered: What does Peak Oil look like? Look around; this is what peak oil looks like. " ...a long ragged slope of rising energy prices, economic contraction, and political failure, punctuated with a crisis here, a local or regional catastrophe there, a war somewhere else—all against a backdrop of disintegrating infrastructure, declining living standards, decreasing access to health care... Which of course has been happening in the United States for some years already."
White Flag: European Union leaders have dropped their demand that investors share the cost of bailouts by taking "haircuts" on their bad investments. Ie. the bankers are winning. Again.
Excuse Me: I read that the Library of Congress is going to receive entire Twitter archive of ever public twitter ever tweeted. Why is there a “Twitter archive” in the first place?