Financial News: 2009-12-18
I will be out for most of the day, so posting may be light. Tonight it will snow in DC and we may get a foot by Sunday. I hear it has snowed in London too. Exciting stuff.
Pain in Spain (not mostly on the plain)
- Pain in Spain – Paul Krugman Blog – NYTimes.com (Internal vs. external devaluation)
- Moody’s ‘axe blow’ to rating on Spanish debts – Telegraph
- La contracción de los servicios baja del 10% por primera vez en un año · ELPAÍS.com (Services contracted for a 15th month in a row in Spain, putting the sector down 10% in year-on-year comparisons.)
- La morosidad vuelve a subir tras el alivio de septiembre y cierra octubre en el 4,99% · ELPAÍS.com (5% default rate, 1345 banks closed, and Citizens now owing more than they earn. These are ugly, ugly statistics in Spain.)
- La deuda de las comunidades se dispara hasta el 7,9% del PIB · ELPAÍS.com (Municipality debt in Spain rose 33% in one year! You think the state budget problems are bad in the U.S., they are bad here as well.)
Distraction of the Day: Police officer tasers handcuffed suspect (this video is from November)
Although we don’t have the same quality audio here, it reminds me of the University of Florida student who was warned to stop resisiting arrest and then yelled out "Don’t tase me, bro" before he got tased. Is this the right approach?
(videos embedded above)