Thursday, October 11, 2012

SAR #12284

Our Motto: Looking leads to finding, so don't look.

Motivation:The IMF says Europe's banks may have to sell off $4.5 trillion in assets in the next year if the eurozone mess doesn't get straightened out pretty damned soon. The odds of which are about a gadzillion to one against. Talk about your bargain hunting...

Being Prepared: The Swiss suspect that the crisis in Europe is getting worse, not better, and will – sooner than later – end up in a series of unpleasant political and social upheavals that will require armed troops to be deployed. Too that end, they are adding 4 new MP battalions to their army to deal with disorder and disruptions. Maybe they're on to something.

Victory: Iraq is quietly – very quietly – shipping oil to Assad's Syria. So much for US influence after another famous victory.

Scheduling: 12,000 striking South African mineworkers have been fired for their wildcat strikes, 20,000 truck drivers are on strike, and the 190,000 members of the South Africa Municipal Workers Union are threatening to strike within a few days. The revolution may well be telecast.

Pale Horse, Paler Rider:Non-financial US corporations are sitting on $1.4 trillion in cash. In real terms that's more than at any point since World War 2; nearly 9% of GDP. Corporations' unwillingness to invest their cash reflects their view that the risk of investing is far greater than any foreseeable reward. Bernanke's confidence fairy hasn't been making house calls.

Another One Bites The Dust: The implementation of South Carolina's voter suppression identification law has been put off until after the November election by a 3-judge federal court.

Payoffs: In the 2008 – 2010 period, some 30 Fortune 500 companies paid more to their lobbyists than they did in taxes. And it was a good investment; they made $164 billion in profits and paid... well, received $10.6 billion in rebates.

Simpleton Math: In 2011, Canada experienced its first ever ozone hole over the Arctic. In 2012, government budget cuts lead to closing the Canadian ozone science group.

Passing Fancy: For about 12 hours on Tuesday, The Mitten reverted back to his old, old pro choice stance, but by the end of the day was back to wanting to repeal Roe vs. Wade.

One For The Good Guys? The US Supreme Court refused to block an $18 billion judgment against Chevron in an Ecuadorian pollution case.

Contagion: The Walmart downtrodden who went on strike in California and Illinois seem to have started something. Workers in 28 stores in 12 states have walked out, demanding wage increases, better working conditions, and the right to exercise their right to unionize. Maybe the worm has begun to turn.

Thanks Giving: Turkey, suspecting that a Syrian passenger jet was carrying “non-civilian cargo”, forced it to land at Ankara airport. The cause for the suspicion was not given.

The Parting Shot:


Connect the dots.

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