A miracle is a fraud that purports to benefit mankind.
Greek Roulette: Either the PSI bond swap happens or it doesn't. The Internet will be full of speculation until the 2000 GMT witching hour. After that the Internet will be full of speculation about what happens next. Stay tuned.
Contagion: German factory orders fell 2.7% in January, mostly due to an 8.6% decline in orders from China and the US
as the recovery gathers speed.
Short Form: Attorney General Eric Holder's explanation as to why the government can murder you comes down to this: They're bigger than you are. He claimed that Congress said it was okay, as though they had the power to do so. He did acknowledge that “the Constitution’s guarantee of due process is ironclad, and it is essential...” but “due process” simply meant the President followed some secret rules in deciding you deserved killing. This administration's attempts to legalize doing what it is damned well wants to do is no more convincing than Bush/Cheney. We wouldn't have accepted this horsepucky from Ashcroft and there's no reason to accept it now. Except they're bigger.
Europe on $5 A Day: The human costs of austerity measures imposed by Northern Europe's banks on Greece, Portugal and Spain are creating a world of Depression-era suffering that will go unreported and unrecognized until those with nothing left to lose rebel. Sooner than might seem possible the protests will mutate into chaos. There is a madness stalking Europe.
Homework: Parse the following: “Can Republicans Win Over Women In November?”
Tea Leaves: The ECB, via the LTROs, has now given European banks €1.019tn, enough so that the banks do not have to go on the market to raise money for 3 years. What happens when the three years are up, the banks are addicted to 1% money and the market wants 3% or more? What's the plan? How do they wean the banks off free money?
Porn O'Graph: Study haul.