While perhaps too soon to say the sky is falling, in a very real sense, Greece seems to be. However you slice it, this is simply not good news.
(Reuters) – Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.
World markets are not taking the news well. The large global sell-off is also putting downward pressure on Wall Street.
BigPeace’s Worldview, October 3rd: Will Greece still get its next bailout payment?
DOOM: You upset me, baby!
Even the “Oracle of Omaha” Warren Buffett couldn’t help sell-out an Obama fundraiser in New York City. This caught our eye:
Jim Chanos, the billionaire hedge fund manager and short seller, was among the best known attendees, and bank executives were noticeably absent from the fundraiser.
Of course, short sellers make money when stocks go down, so we’re guessing Obama has very high approval ratings among this group of voters.
Rumors are swirling that Chris Christie will announce this week whether or not he’s running for President. An anonymous source claims that major donors have been told to be ready to be in Trenton this Thursday. Sources have told us that Christie staff have been calling operatives to gauge their interest in working on his campaign.
Solyndra II? A Nevada geothermal energy company, a recipient of tens of millions in federal loans and grants, is struggling, according to the New York Times. Of course, Senate Majority Leader Harry Reid is a strong advocate for the company.
This week in Washington.
Hall-of-Famer Fran Tarkenton takes on the teachers unions:
Imagine the National Football League in an alternate reality. Each player’s salary is based on how long he’s been in the league. It’s about tenure, not talent. The same scale is used for every player, no matter whether he’s an All-Pro quarterback or the last man on the roster. For every year a player’s been in this NFL, he gets a bump in pay. The only difference between Tom Brady and the worst player in the league is a few years of step increases. And if a player makes it through his third season, he can never be cut from the roster until he chooses to retire, except in the most extreme cases of misconduct.
Out in California, Jerky Jerry has signed two bills. While often appearing confused these days, he does look as though he’s determined to nip some things in the bud.
Meanwhile, Wall Street protesters are said to be hunkering down. Hopefully, if they stay long enough, one day they’ll actually figure out precisely what it is they are protesting for.
(AP) NEW YORK — The arrests of 700 people on Brooklyn Bridge over the weekend fueled the anger of anti-Wall Street protesters camping in a Manhattan park and sparked support elsewhere in the country as the campaign entered its third week Sunday.
At least it provides more time to expose some of them for what they actually are. See Big Government reports here and here. Being paid six figures to bring capitalism down may seem like a good idea, but it remains unclear what kind of economic futue there is in it. And it offers no real future of increased opportunity if you happen to be of the Middle-Class.
Is the professional tea party cashing in? There does seem to be quite a lot of money swirling around.
As much as I may have loved Carson in his day, I doubt I’ll ever be able to forgive him for giving us Roseanne Barr. Chalk it up to thelaw of unintended consequences, perhaps.
It had to happen eventually. Denmark has proposed the world’s first “fat” tax. A Danish danish tax, if you will.
Should John Hinckley, Jr. be released? Don’t much care for the idea, myself. But if Roseanne is going to be allowed to walk around free, really, what is one to do in this day and age?