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OSHKOSH, Wis. – Bad news will greet Vice President Joe Biden when he arrives in Wisconsin Thursday night. Hours earlier, Oshkosh’s largest employer announced that it will lay off 450 employees in January. Oshkosh Corp., a truck manufacturer with Pentagon contracts, blamed the “difficult decisions” on reductions already planned for the nation’s defense budget. “As Oshkosh and others in the defense industry have discussed on numerous occasions, domestic military vehicle production volumes [...] Last weeks comments by Mario Draghi in which he claimed that he would do ‘whatever it takes’ to save the Euro has markets expecting action. One possible form of that action is an expanded purchase program of troubled Italian and Spanish bonds. It could be combined with a banking license for the European Stability Mechanism, which would greatly expand that fund’s ability to buy sovereign debt. Harvard Economics Professor Martin Feldstein argues at Project Syndicate that such [...] by Joe Weisenthal Markets continue to move lower, and part of that may be the deepening realization that in less than 24 hours, the mood in Greece has gone from “relief, we have a deal” to “Nobody trusts each other, and the deal is a lie.” The word last night was that European finance minister basically called the Greek deal a con. Then there’s this emotional statement from Greek FinMin Venizelos, translated by FT Alphaville, [...] The Obama Justice Department quietly issued a legal opinion – just before a long Christmas weekend – that allows states to set up nonsports Internet gambling. The opinion upends decades of contrary decisions, but its real effect will be on the poor (and young) who suffer the most from gambling. Las Vegas Sands Chairman and CEO Sheldon Adelson waves to reporters as he arrived for Sands China’s annual [...] From Bloomberg: Lucas Papademos, a former vice president of the European Central Bank who will be sworn in as prime minister of a Greek unity government today, faces the immediate task of securing funds by implementing budget cuts to avert an economic collapse. Papademos and his Cabinet, which has yet to be named, will be sworn in at 2 p.m. in Athens. President Karolos Papoulias gave Papademos the mandate to form a [...] AUSTIN, Texas – Texas Gov. Rick Perry has asked the U.S. Department of Homeland Security for nearly $350 million to cover the costs he says Texas has incurred incarcerating illegal immigrants in state prisons and county jails. In a letter to Homeland Security Secretary Janet Napolitano, Perry reiterated a claim he’s often leveled against the federal government: that it’s not doing enough to secure the border with Mexico and as [...] by Karen Powell When willing to “compromise”, our President says he is willing to cut Medicare and SS spending. This appears in direct conflict with the image he tries to project of himself as caretaker of the working class and of the poor. To justify “compromise”, thereby leaving liability for this take-away somewhere removed from himself, he often says things like, “we’re going to [...] |
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