We chose this path, it wasn't inevitable.
Don't Let The Door Hit You: Germany's Bundesbank told Greece that their departure from the eurozone would be inconvenient but "manageable" - for Germany, and that it would be foolish to extend additional funds. The subtext seems to be Berlin telling Athens it won't be blackmailed into throwing even more money down that particular hole.
Turnabout's Fair Play: Why is the headline “Stocks fall for no reason” acceptable for a down day, but you never see “Stocks wandered higher for no reason...” ?
Hanging Together/Alone: In an astounding act of stupidity, the world finished the latest round of international discussions on climate control without making any progress and - some claim – even undoing what little progress had been made a year ago. The meeting was held to draw up guidelines for a future meeting at which plans would be made to organize a gathering focused on planning to address urgent matters relating to global climate change, with hopes for an eventual treaty - before a 4ºC rise in global temperatures or a 6 foot rise in ocean levels, whichever comes first.
Creeping Keynesianism: Don't quote him, but Mitt knows that " if you take a trillion dollars for instance, out of the first year of the federal budget, that would shrink GDP over 5%." He went on to say that he would not do that because it would "throw the country into a recession or depression."
Shoe/Fits: According to the just released “Human Rights Record of the United States”, in 2010 between 2.3 and 3.5 million Americans did not have a place that they called home to sleep in at night. This, the report stressed, was a reflection of the US political system which ignores people's economic, social and cultural rights. The report was published by China's Information Office. Of course, we know this is not true.
Wine Whine: BofA advises that we are approaching Peak Wine.
Stormy Weather: On the heels of a failed EU summit (which is redundant), strains intensified as eurozone business confidence underwent the sharpest fall in nearly 3 years, while Germany's economic performance was the worst in 6 months and France's data was the poorest in over 3 years. In a marvelous understatement, the ECB's Mario Draghi said the EU was at “a crucial moment in its history” and that "a courageous jump in political imagination" was needed if the EU – and the eurozone - is to survive.
Go Long: Mitt Romney, who says he doesn't do well in competitive sports, but “can compete in politics” which is, he says, “a sport for old guys.”
Preventive Strike: House Majority Leader Eric Cantor (R, VA) says the republicans will push an extension of the Bush tax cuts through the House this summer, trying to show the Democrats as favoring “raising taxes” going into the election and – a long shot – preventing the automatic termination of the cuts come next January.
Porn O'Graph: How deep's the water at your house?
The Parting Shot:
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