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POPS Big Bond Bomb Hit EuroZone Countries "Eurozone Countries Are Teetering On The Brink" "Pearl Harbor Portfolio: Day 7" S&P Downgrades Greece's Credit Rating S&P expect double-digit general government deficits as a percentage of GDP this year and next to raise Greece's government debt burden considerably to 126% of GDP in 2010 and about 138% of GDP in 2012. Greek Finance Minister Comes Out Swinging, Hints At Similarities With US Debt Situation U.S. Debt ratio to GDP is at 100% now and climbing with the possibility of Govt. controlled health care reform and the Carbon Tax Trade that will be imposed by the EPA even if there is not official agreement.
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POPSDemocrat Utopia: Free Unicorns for Everyone In addition to spending billions more than it takes in, Michigan's $2.3 billion community health budget, 90 percent of which is Medicaid, will get slammed with an additional $500 million or so by socialized medicine. And that's just part of the problem. Emergency Jobless Claims Hit All-Time High: And I thought President Obama said the economy was recovering. The number you won't hear mentioned anywhere in the Mainstream Media: 327,729. That is how many people shifted to Emergency Unemployment Compensation programs in the last week alone, hitting an all time record high of 4.2 million! Oh, and did you hear? America is broke -- and the Democrats keep spending: Politico's headline reads 'Dems to lift debt ceiling by $1.8 trillion, fear 2010 backlash'. In a nutshell, the Statists are in a central-planning frenzy and won't let up until they control health care and every energy-consuming business in the country:
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POPSDubai Restructuring Causes Waves The ongoing Dubai restructuring story, combined with recent restructurings in Kazakhstan and Ukraine, raises questions over the quality of sovereign support for quasi-sovereign names. The risk is that in the aftermath of this, rating agencies take a less generous interpretation of sovereign support and we see a wave of quasi-sovereign downgrades. Investors will then demand a higher risk premium for holding assets of those quasi-sovereigns without explicit sovereign guarantees. Hence, developments in Dubai have broader market resonance and the CDS market has continued to react negatively with spreads widening dramatically, especially those of the less well thought of sovereign names. Read more...
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POPSSharp decline in business for handset makers A day doesn't go by without further indication that the crisis is deepening and hitting sectors previously thought to be shielded to a some extent. This piece of news also shows that consumers and businesses alike are unlikely to resume investments and spending before they are certain that the worse of the crisis is behind us. In the field of mobile telephony a sharp drop in capacity used by subscribers is to be expected and in particular in those patterns of usage rightly considered to be most expensive (roaming, mobile multimedia Internet...) This is all rather good news for Jajah, (www.jajah.com, which I covered on my blog more than two years ago) as well as for Skype. Furthermore, I expect broadband ISPs to do well.
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POPSEconomic Common Cents?
Grasping the whole kit and kaboodle is sort of like a small fish trying to swallow a whale. One idea from his smoothly written economic article is how some rules have to be changed. One big bank failed because it's credit rating went down --but this caused a chain reaction of selling of its stock because the real large holders of stocks, Money Market Funds and Pension Funds have rules about what stocks they can hold...only stocks with certain good credit ratings. Or rules that say stocks must be sold if they become cheaper than $5.00 a share. Maybe the whole idea of speculating in the collapse of a stock's price is a bad idea; or computer programmed trading that can send shares down just because the computer program spots a .10-cent profit. Ten cents on a million shares adds up and not bad for one day's work. If you don't care about the survival of the company. For what it's worht, all the 'buzzwords,' and 'linguistic derivatives' are here. Some more ethereal than ot
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POPS11 Public Transit Agencies Pleaded With Congress For Bailout And the banks were able to rely on frequent lease payments while writing off taxes on the depreciating property. The IRS ended such leasing arrangements in 2004 and is pressuring banks to stop the tax shelters by the end of the year. Metro, the Washington area’s transit system, agreed last week with a bank immediately seeking $43 million from one such financing deal following talks overseen by a federal judge. Terms were not disclosed on the judge’s instructions. Metro general manager John Catoe noted Tuesday that Metro still faces 14 similar financing deals. He said having to settle all of them in court would lead to hefty legal costs and other expenses. The other three agencies seeking government help are in Sacramento and San Jose in California and New Jersey Transit.
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POPSS & P Downgrades Rating Of NYTimes To Junk Status The New York Times also indicated in its statement that it may cut its dividend. "Our board of directors plans to review our dividend policy before the end of this year to determine what is most prudent in light of the overall market conditions," said Robinson. It also said it was looking at writing down the value of assets in its New England Media Group, which includes the Boston Globe, by 100 million dollars to 150 million dollars.
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POPSRush is on to prevent AIG from failing The big question I have over all this is it just the Ultra Rich trying to keep their wealth from sinking or are they really doing all this to help the average US citizen? It seems all these continued bailouts are just to save the ultra rich and extremely wealthy from becoming just upper middle class?
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POPSYahoo downgrades its music offerings... While everyone talks about Yahoo's new social-networking site in beta-testing (aka Yahoo Mash), some recent changes in Yahoo's music offerings have gone unnoticed. First, Yahoo's Music Unlimited song subscription service no longer offers NEW USERS the option to transfer their songs to their portable music player. In addition, Yahoo has dumped its directory of podcasts. Do these actions mark a change in Yahoo's online music strategy? Maybe they'll tie in music sharing and recommending with their Yahoo Mash site. Too soon to tell, but I'll keep you updated with new information as it becomes available.
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POPSMicrosoft's woes? The hits seem to keep coming for Microsoft who has hard time imposing Vista on the market, faces issues with Excel, a flagship product, and lost an important legal battle with the EU Commission over its competitive behavior. While Microsoft's tactics justifiably cause customers to be concerned, I believe the weapon of market dominance ends up being a boomerang for a company because its erodes its relational capital with customers and local communities, drives intense reactions from competitors and regulators and probably leads to some form of complacency and arrogance of its personnel, who may end up believing that whatever they release will end up being bought by a market taken hostage by their employer.
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POPSUN Downgrades man's impact on climate Sound familiar? This is just the first of the "downgrades". Similar to the past hurricane season, but on a longer timescale. However, the UN is not the worst of the alarmists. The IPCC reports do good science. It is how this science is twisted and abused that is so troublesome.
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