by John Galt June 3, 2012 10:45 ET And as if the world doesn’t have enough on its plate tonight, let’s raise the ante with this story from the Hong Kong Standard which should reassure everyone who has to travel to China, Hong Kong, or Macau: Bird flu boy spends 5 days in ward after wrong call The story by Mary Ann Benitez exhibits the joys of government health care along with the blissful deniability of communist efficiency. Check out this…
by John Galt June 3, 2012 19:10 ET The hits just keep coming and with $647 trillion reasons to worry, aka, the total notional derivatives now outstanding as of Q4 in 2011 per the Bank of International Settlements just released this afternoon and published officially on Monday (click here for the PDF of the full report). The really, really good news is that our Federal Reserve has this completely under control and the trillions of dollars in Credit Default Swaps (CDS) and European…
by John Galt June 3, 2012 17:10 ET Ambrose Evans-Pritchard is back with the reality check in the U.K. Telegraph that has been sorely missed by most of the mainstream Bubblemedia and especially the political elites of Europe: The week that Europe stopped pretending These key portions of this outstanding summary of the past week should terrify the sane and petrify the insanely ignorant: Joschka Fischer, Germany’s former vice-Chancellor, said EU leaders have two weeks left to save the project.…
by John Galt June 3, 2012 12:40 ET So much for the model of German peace and stability they present to the world when discussing “their” rational dealings and solutions for the PIIGS debacle. In Hamburg, Germany last night over 3,500 left wing radicals faced off against approximately 700 Neo-Nazis and the losers were the police and property owners. According to an article in the Austrian newspaper Wiener Zeitung (click here to read; translation required) the following excerpt tells the tale of woe (Using…
by John Galt June 3, 2012 11:15 ET The news from Athens continues to bleak over the past few weeks. A 90 year old mother and her 60 year old son jumped to their deaths off on apartment building (See Ekarthimeini article here). A 62 year old pensioner hung himself off of a tree on the outskirts of Nikaia (See Athens News article here). Migrants are being attacked and are desperate to leave the country. Pharmacists are now refusing the government benefits card…
by John Galt June 3, 2012 10:15 ET The German newspaper Der Spiegel finally reports what most of us figured out years ago: Israel Deploys Nuclear Weapons on German-Built Submarines (Click on the title above to read the article in full) While there are some that might be aghast at the idea of Israel deploying such weapons to defend itself from radical states like Iran and Syria, the reality is that this gives them a retaliatory strike capacity against those…
by John Galt June 3, 2012 07:50 ET Here we go again. With the Saudi market bouncing back into a positive move for the day, albeit small (0.34%) and looking to close relatively flat there was some hope that the markets might recover in the Middle East to put a floor under U.S. collapse on Friday. Unfortunately the rest of the region is down but not as bad as the TASI yesterday so it would appear everyone is waiting to see what Asia…
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