MOSCOW — Russia should set itself the “super goal” of building a large base on the moon it could use to achieve “leaps” in science and to give a new sense of purpose to its troubled space program, Deputy Prime Minister Dmitry Rogozin said on Tuesday.
Calling the task “big, prestigious and political”, Rogozin said the country’s space industry — which has suffered a string of costly and embarrassing failures — [...]
From Markit, the latest Eurozone-wide services PMI chart (flash).
It just keeps going down.
Click here to download the full report.
This is partly why European markets are getting so bloodied today.
Wolf Richter www.testosteronepit.com
On Thursday, rumors that Greece would have a government goosed the stock markets in Europe. While everybody was out to lunch in Frankfurt, the DAX ran up 110 points, before it settled down a bit. In Athens, the ATHEX, which appears to be on a multi-year trajectory toward zero, jumped 4.2% and the bank index 13%. But on Friday, when it became clear that the rumor was just another [...]
DAVID KLEPPER, Associated Press
PROVIDENCE, R.I. (AP) — Wary of tax increases, weary of layoffs and determined to avoid bankruptcy, Providence Mayor Angel Taveras had only to gaze up at his city’s Ivy League campus to see a way out of the morass.
On College Hill sits Brown University, with a $2.5 billion endowment and property worth an estimated $1 billion. Brown would pay the city $38 million in property taxes each [...]
We got two more pieces of the jobs picture this morning. Let’s look at them:
First, initial claims took a big dive last week, dropping 27,000 to 365,000. You can all breathe now. It’s not all sun and roses, of course. Last week’s initial claims were revised higher, as they are seemingly every week, to 392,000, a distressing number. The four-week average nudged up by 750 to 383,000, still too [...]
Rep. Doug Lamborn and President Obama. (Rep. Doug Lamborn’s office)
For those who still think the election of Barack Obama as the nation’s [...]
Matt Taibbi: Courts Helping Banks Screw Over Homeowners
Retired judges are rushing through complex cases to speed foreclosures in Florida’s “rocket docket”. One Jacksonville judge, the Honorable A.C. Soud, even told a local newspaper that his goal is to resolve 25 cases per hour. Banks with bad paperwork or outright lies are allowed to refile again and again on the same mortgage until [...]
“One stark and sobering way to frame the crisis is this: if the United States government were to nationalize (in other words, steal) every penny of private wealth accumulated by AmericaÃ¢â‚¬â„¢s citizens since the nationÃ¢â‚¬â„¢s founding 235 years ago, the government would remain totally bankrupt.
According to the Federal ReserveÃ¢â‚¬â„¢s most recent report on wealth, AmericaÃ¢â‚¬â„¢s private net worth was $53.4 trillion as of September, 2009. But at the same time, [...]