Source:
Facing Deficits, States Get Out Sharper Knives
JENNIFER STEINHAUER
NYT, November 16, 2008
http://www.nytimes.com/2008/11/17/us/17fiscal.html
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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November 17th, 2008 at 5:01 pm
This is kind of a problem.
November 17th, 2008 at 5:08 pm
This is unfortunate but it means we are getting closer to an end to the chaos. http://finance.yahoo.com/news/Brazil-trader-shoots-self-on-apf-13597937.html
November 17th, 2008 at 7:49 pm
“This is unfortunate but it means we are getting closer to an end to the chaos.”
On the other hand, we are one day closer to death.
November 17th, 2008 at 8:26 pm
It reminds me vaguely of those WW III maps showing where the H bombs would land and how much damage they would do.