This morning’s key headlines from GenerationalDynamics.com.
Greece’s bond yields fall from 26% to 24.78%
During the month of April, Greece’s 2-year bond yields — the interest rates demanded by investors to lend money to Greece for two years — jumped 10 percentage points, to almost 26%. However, bond yields fell to 24.78% on Tuesday, because Greek and EU officials instituted that Greece will NOT restructure its debt (a form of default), even though it’s mathematically impossible for Greece to avoid default. (As I wrote in today’s main article, the same financial officials who committed massive fraud during the credit and real estate bubbles are still in the same jobs today, committing different kinds of fraud.) An analysis shows that investors will be forced to take a 55% “haircut” (loss of principal), and that yields would have to increase to 45%. Financial Times (Access).
Syria arrests hundreds, charging ‘degrading the state’
The Syrian government’s destructive binge is continues, as hundreds of ordinary citizens are being arrested and charged with “degrading the state,” which carries a three year prison sentence. In some cities, the police are going from door to door and arresting every male under 40, along with some females. There are thousands of political prisoners. The violence is also affecting the economy, as 8% of Syrian pound deposits in banks have been converted to dollars since the unrest began. Reuters
Egypt’s Hosni Mubarak could be executed
Egypt’s ousted president Hosni Mubarak has said that he would die in Egypt, and he may get his wish soon. Egypt’s justice minister says that Mubarak could receive a death sentence if he’s convicted of “the crime of killing protesters.” Mubarak is 82 years old. AFP
Superman renounces U.S. citizenship
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Superman may not be celebrating the death of Osama bin Laden. Superman was a comic book hero appearing in Action Comics in 1933 as a fighter against social injustice and tyranny. He was an important American icon during World War II in the fight against the Nazis. In the 1950s, he was my favorite comic book hero. However, Superman will now renounce his American citizenship in a story line where the President’s national security advisor is incensed that Superman appeared in Tehran to non-violently support the protesters demonstrating against the Iranian regime. Comics Alliance
China’s media reflect border disputes with India
On November 19, 2010, an Indian Air Force (IAF) helicopter crashed in India’s Arunchal Pradesh, near the border with China, killing 12 people. In Xinhua’s government controlled news coverage of the incident, there were differences between the English and Chinese versions. The English version quoted the AFP news coverage, saying that the accident occurred in a Russian-made helicopter in India’s “northeast … border areas.” The Chinese version said that the accident occurred “in the so-called ‘Arunachal Pradesh,’ [which] is located in southern Tibet, China, which has always been Chinese territory. China’s repeated solemn declaration that China never recognized the illegal ‘McMahon Line’ and the Indian authorities in February 1987 announced the establishment of the so-called ‘Arunachal Pradesh.'” Bahukutumbi Raman.
Map of China’s ‘String of Pearls’ strategy
China’s strategy plans a “String of Pearls,” where each “pearl” is a naval facility running from the South China Sea, across the Indian Ocean, reaching the Mideast and Africa. Here’s an interesting map, too big to display here, showing China’s String of Pearls. Washington Institute
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