- - - - - 8/6/12

There is noise out of Europe.
There is little financial action.

The U.S. is in a perhaps new condition financially.
Regulatory capture by industries and right wing politicians has rendered regulation ineffective.  The Business of America is once again business.
Promoting the general welfare is counterproductive.

The general welfare is all government's prime objective.
Business is only a tool.
Let us use our tools rather than allow our tools to use us.

Monday, August 6, 2012

Links 8/6/12

Fish Kills in Midwest Rise As Drought Effects Intensify Wall Street Journal :-(
Unsafe Gun Safes Can Be Opened By A Three-Year Old Forbes (Chuck L)
Chilling Account of Near-Miss Wall Street Journal. If you are tired of worrying about sharks, you can worry about this.
Wal-Mart OK with selling genetically modified sweet corn Chicago Tribune (martha r). Quelle surprise!
Kevlar Tires Now Required to Traverse ‘Spear-Like’ GMO Crops Nation of Change (martha r)
Fracking Debate Racks South Africa Wall Street Journal
Key repo contracts market falls 14% Financial Times (Joe Costello)
Spanish government accused of purging critics from national radio and TV Guardian (Chuck L)
IMF’s Talks With Greece Show Progress, Fund Official Says Bloomberg
New York Times Acknowledges that Syrian Opposition Is Persecuting Christians and Other Minorities George Washington
China’s July lending and retail appear weak MacroBusiness
Zambian miners kill Chinese supervisor and injure another in pay dispute Guardian (Ed Harrison)
Massacre at La Visite Black Agenda Report (martha r)
How Mitt Romney Got Rich Destroying American Jobs and Promoting Sweatshop Capitalism Paul Davidson, Alternet
An Interview With Mike Lofgren, Author of “The Party Is Over” Truthout (Aquifer)
Wisconsin Temple Shooting: Oak Creek Incident Leaves At Least 7 Dead (LIVE UPDATES) Huffington Post :-(
VYVANSE BILLIONAIRE RANDAL KIRK AND THE ‘SPEED DOCTRINE’ OF HIGHER EDUCATION Das Krapital. More on the climate science-UVA nexus.
Things Will Get Worse Before They’ll Get Better Joe Firestone, Corrente (Carol B)
Capital One To Pay Millions After Being Charged With Improper Military Foreclosures Huffington Post (Lisa Epstein)
Two years after foreclosure probe launched, investigation winds down Palm Beach Post (martha r)
Four-year silver probe set to be dropped Financial Times
Solidarity Through a Plexiglass Window Occupied Stories (martha r)
Bankers uber alles Eclectic Lip
The Conservative Brookings Institute masaccio Firedoglake

Read more at http://www.nakedcapitalism.com/2012/08/links-8612.html#MckL2sCr5vg5FVzz.99

Debt crisis: as it happened - August 6, 2012

 

Ben Bernanke, the chairman of the Federal Reserve, has said that official economic data may mask the "struggle" that many Americans face, as Germany's foreign minister warns politicians "not to talk Europe apart".

06 Aug 2012

| 324 Comments

Germany and Italy near blows over euro

 

German politicians from across the spectrum have reacted furiously to warnings by Italy’s Mario Monti that Bundestag control over EU debt policies threatens to bring about the “disintegration” of the European project.

06 Aug 2012

| 233 Comments

Negative interest rates spell final defeat for beleaguered savers

 

Market interest rates are once again sending out some very disturbing signals – ones that are suggestive of a very hard landing indeed for the global economy.

06 Aug 2012

| 20 Comments

BCC: businesses more worried about eurozone that spending cuts

 

British businesses are more worried about the eurozone crisis than Government spending cuts and credit availability, according to the British Chambers of Commerce.

06 Aug 2012

| 1 Comment

Wealthy Brits look to flee abroad to escape high taxes, crime and rain

 

Crime, high taxes and even the weather are driving a growing number of wealthy Britons to actively consider moving abroad, according to a financial advisory firm.

06 Aug 2012

| 19 Comments

Debt crisis: Troika finds Cyprus 'in worse state than expected'

International lenders assessing Cyprus's bailout needs found the economy in a "worse state than expected" and in need of painful adjustment in coming months, according to reports.

06 Aug 2012

| 21 Comments

• 

  Financial crisis: 25 people at the heart of the meltdown – where are they now?

  6 Aug 2012: In 2009 the Guardian identified 25 people whose actions had led the world into economic turmoil. Where are they now?
  

• Greece enters 'crucial weeks' with troika praise for €11.5bn cuts progress

  5 Aug 2012: Finance minister Yiannis Stournaras talks of 'bridge of hope' in reform drive

• Why the eurozone crisis threatens liberal reform in the east

  5 Aug 2012: Andrea Capussela: The eurozone's troubles have focused on southern Europe. But the financial crisis is also a concern for the eastern nations 41 comments

Interview with Italian Prime Minister Mario Monti 'A Front Line Between North and South'

SPIEGEL ONLINE - August 06, 2012 In a SPIEGEL interview, Italian Prime Minister Mario Monti says Europe is showing traces of a "psychological dissolution" in the debt crisis and that leaders are doing too little to stop it. He also warns that governments cannot allow themselves to become "fully bound" to parliament in determining policies to save the euro. more...

Italy's Lost Generation Crisis Forces Young Italians to Move Abroad

SPIEGEL ONLINE - August 06, 2012 The situation in Italy is getting increasingly desperate as the euro crisis continues. But it is the country's youth who are the biggest losers. Many young people, unable to get proper jobs and still living with their parents, are forced to move abroad in hopes of a better life. By Fiona Ehlers in Rome more... [ Forum ]

'Greece Should Leave' Patience with Athens Nearing an End in Germany

SPIEGEL ONLINE - August 06, 2012 Even as Greece's leading creditors expressed satisfaction with a new agreement aimed at labor market reforms, patience in Germany is running out. The tone among politicians allied with Chancellor Merkel is growing sharper. more...

'Attack on Democracy' Monti Comments Enrage German Politicians

SPIEGEL ONLINE - August 06, 2012 With his appeal in a SPIEGEL interview for national leaders to be given greater independence from parliaments in euro bailout decisions, Italian Prime Minister Mario Monti has sparked intense anger in Germany. Members of both Chancellor Angela Merkel's government and the opposition have labelled Monti's demands "undemocratic." more...

Buying Bonds against the Crisis How the ECB Plans to Use Its Bazooka

SPIEGEL ONLINE - August 06, 2012 The European Central Bank has come up with a new plan to buy the bonds of debt-ridden countries in a bid to fight the euro crisis. Under the new approach, the ECB would only intervene if governments commit to reforms. But experts criticize the plan as dangerous and undemocratic. By SPIEGEL Staff more... [ Forum ]

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