A Solar Heated Cement Pond

    http://www.mlgoodell.webs.com A friend forwarded an email called Federal Budget 101 which explains our fiscal crisis with stunning clarity, in terms so simple even a public employee union member could understand it. The author, an engineer, provided the basic numbers: .        Federal Revenues:     $2,170,000,000,000 .        Federal Budget:      $3,820,000,000,000 .        Budget Deficit:      $1,650,000,000,000 .        National Debt:            $14,271,000,000,000 .        Amount cut | Read More »

    Jean-Claude Trichet’s Italian Job

    Jean-Claude Trichet, the outgoing governor of the European Central Bank, just announced that the ECB will engage in purchases of euro-denominated bonds issued by Spain and Italy. This long-resisted move is intended to stem the latest flareup of the sovereign-debt heartburn that is a far greater threat to financial-market stability than the US debt downgrade. If the ECB manage to sustain this, it probably will | Read More »

    Jean-Claude Trichet’s Italian Job

    Jean-Claude Trichet, the outgoing governor of the European Central Bank, just announced that the ECB will engage in purchases of euro-denominated bonds issued by Spain and Italy. This long-resisted move is intended to stem the latest flareup of the sovereign-debt heartburn that is a far greater threat to financial-market stability than the US debt downgrade. If the ECB manage to sustain this, it probably will | Read More »