News Links 10/03/2011
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BBC News – Eurozone manufacturing shrinks in September
Manufacturing in the eurozone shrank at its fastest pace in two years in September, a business survey has shown.
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GREECE: Lost Generation Begins to Leave – IPS ipsnews.net
ATHENS, Oct 2, 2011 (IPS) – Every working day a long queue of people forms outside the State Translation Service in Thission in downtown Athens from early in the morning. Most are youngsters processing documents they need to leave Greece for study or work. Many move on to queue later outside embassies for visas.
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Q&A with President Bill Clinton at the 2011 Clinton Global Initiative (Yotta Point)
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The Most Ridiculous Thing You Will Read About Interest Rates Today
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Greek economy stuck in recession, complicates fiscal efforts | Reuters
(Reuters) – The Greek economy will remain stuck in recession next year, underlining the challenge the country faces in creating enough growth to claw its way out of a debt crisis shaking the euro, Greek budget figures showed on Monday.
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This Zealously Spend-Happy Chinese Mayor Says He Is Just Imitating Ronald Reagan
China Bears — who obsess over local government debt — love a guy like Huang Qifan, the Chongqing mayor who leads the country in public housing construction and other government-funded projects.
But Huang isn’t just spending recklessly. He calls himself a student of supply-side Reaganomics, and he thinks the U.S. should return to these policies too -
How Big Is the Long-Term Debt Problem? « The Baseline Scenario
So the bottom line is: If we extend the Bush tax cuts, we have very big deficit problems over the next ten years and the next twenty-five years. If we let them expire, there is no ten-year problem. That’s the same as in my earlier post, and I don’t think that’s controversial to anyone who understands the numbers.
What’s more controversial is my claim that if we let the tax cuts expire, there is a twenty-five year problem, but it’s not a huge one. Many other people argue that even if we let the tax cuts expire, we still have to cut Social Security and Medicare. On my reading, the problem is a national debt at 69% of GDP and growing steadily. If we have another financial crisis, or we start losing our status as the reserve currency, that could be a serious problem. My opinion is we should do something about it. But it’s not necessarily the end of the world.
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Perry bet big on tax grants to subprime lenders
As Texas governor, Rick Perry spent tens of millions in taxpayer money to lure some of the nation’s leading mortgage companies to expand their business in his state, calling it a national model for creating jobs. But the plan backfired.
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Like last year, I had the opportunity this year to participate in a Q&A session with former President Bill Clinton, along with a handful of journalists and bloggers, on the sidelines of the 2011 Clinton Global Initiative Annual Meeting in New York. In my previous post, I included links to some posts from others who attended the Q&A. The focus of this post is on President Clinton’s comments on the Eurozone crisis and what we should be doing in the future to address these types of problems.
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Let’s Stop Rewarding Failed C.E.O.’s – Common Sense – NYTimes.com
Léo Apotheker’s short, turbulent reign as the chief executive of Hewlett-Packard was by nearly all accounts a disaster. The board demanded his resignation, and if ever there was a case for firing someone for cause, this would seem to be it.
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Investor Fear Over Morgan Stanley Sharpens – NYTimes.com
As confidence in the soundness of some of the world’s biggest banks has fallen in recent weeks, investors have been selling off their shares of one financial institution after another.
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Five ways #OccupyWallStreet has succeeded | Energy Bulletin
#OccupyWallStreet protests are now well into their second week, and they are increasingly capturing the public spotlight. This is because, whatever limitations their occupation has, the protesters have done many things right.
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Pröll für höhere Steuern für Top-Verdiener – Budget – derStandard.at › Inland
Wirtschaftsbund lehnt Vorschlag von niederösterreichischem Landeshauptmann ab – Fekter: “Es gibt keine Denkverbote”
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Wray: Stresses Seen at the Outer Surface of the Ballooning Commodities Complex | Benzinga.com
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Embattled Dexia faces Moody’s downgrade | Business | guardian.co.uk
Not a good start to the day for Dexia, the Franco-Belgian bank which had to bailed out by both countries – to the tune of €6bn (£5bn) – during the 2008 banking crisis and now the subject of concern about its exposure to Greece.
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Video: Occupy Wall Street protests spread across U.S – Telegraph
All the protests were inspired by the Occupy Wall Street movement which has seen hundreds of people camping out near the financial district in New York City and conducting marches calling for an end to home foreclosures and high unemployment.
“Kindle Fire: why no welcome from Google?” https://www.guardian.co.uk/technology/2011/oct/03/kindle-fire-google
“Amazon’s new tablet runs on Android – but the reality is that the two giants are competing over browsers and customers”
Yes, I posted this link a few days ago that gets at the same point:
https://mashable.com/2011/09/29/amazon-kindle-fire-android-hijack