European Funding Pressures Spike Most In 14 Months
One of the most important indicators of stress in the financial markets of Europe during the heady days of the crisis was the EUR-USD basis swap. Simply put it is an indication of the trouble that European banks are having funding themselves. Thank to the LTRO and a wash from the ECB, it has been largely off the radar for most media types. [...]
Texas Goes ‘Marxist’
Pop on over and have a read at this interesting statement featured on Treehugger from the Texas State legislature. I feature it because it is a fascinating window into where the American mind is headed:
Texas Republicans Attack Agenda 21, Smart Growth, Sustainable Development and All of Europe*
This is not unique to Texas by a long shot, Tennessee passed an almost identical statement, and many red states are following suit. Even in [...]
CAIRO — The outskirts of Tahrir Square, the iconic landmark ofEgypt’s revolution, plunged into chaos Wednesday, after attempts by the Egyptian military, religious clerics and doctors failed to stanch another day of fighting that has posed the greatest crisis to the country since the fall of President Hosni Mubarak in February.
The fighting in darkened streets, suffused with tear gas and eerily lit by the flashing lights of police cars [...]
The beat is pumping, the music blasting and the kids are flaying their arms and pouting in the international body-language of rap stars. As they spot my camera, they flash the ubiquitous Libyan pro-democracy “V” for victory sign. Then the song glides into its catchy refrain and they’re off again:
Yani kamat al intisar!
El horriyah l’il ahrah!”
“This is revolution!
The height of victory!
Freedom for the free people!”