Daily Digest

Daily Digest 2/5 - Beware The Ides Of March, Protestors Pack Freezing Moscow Center, A Mortgage Tornado Warning, Unheeded

Sunday, February 5, 2012, 10:49 AM
  • Art Cashin: Beware The Ides Of March—Or Maybe A Few Days Later
  • Syria Assad: Army massacres 'scores' in city of Homs
  • In Biting Cold, Protesters Pack the Center of Moscow
  • Homeless Families, Cloaked in Normality
  • A Mortgage Tornado Warning, Unheeded
  • Egyptian Forces Appear to End Siege of Ministry
  • Keystone Kops
  • U.N. Says Somalia Famine Has Ended, but Warns That Crisis Isn’t Over

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Economy

Art Cashin: Beware The Ides Of March—Or Maybe A Few Days Later (dons)

People are giving up on the Greek/Debtor deal and starting to whisper about structured default, according to UBS floor trader Art Cashin. Those whispers could get much louder ahead of Greece's March 20 deadline to repay 14.5 billion euros in debt.

Syria Assad: Army massacres 'scores' in city of Homs (jdargis)

Activists say a massacre has occurred but the government denied attacking, accusing the opposition of propaganda.

A BBC correspondent outside Homs says opposition fighters, though outgunned, plan to launch a "general offensive".

In Biting Cold, Protesters Pack the Center of Moscow (jdargis)

By the end of the frigid day, it appeared that antigovernment demonstrations had not lost momentum and could continue into the spring. If they do, they will pose an unexpected challenge to Mr. Putin, who has never faced sustained public opposition in his 12 years as the country’s paramount leader.

Homeless Families, Cloaked in Normality (jdargis)

All told, the odyssey required four hours, six trips on the subway and three trips on the bus, and suggests the changing nature of homelessness in New York. Unlike in the 1980s, when the crisis was defined by AIDS patients or men who slept on church steps, these days it has become more likely that a seemingly ordinary family, rushing about on public transportation with Elmo bags and video games, could be without a home.

A Mortgage Tornado Warning, Unheeded (jdargis)

In hindsight, what he found looks like a blueprint of today’s foreclosure crisis. Even then, Mr. Lavalle discovered, some loan-servicing companies that worked for Fannie Mae routinely filed false foreclosure documents, not unlike the fraudulent paperwork that has since made “robo-signing” a household term. Even then, he found, the nation’s electronic mortgage registry was playing fast and loose with the law — something that courts have belatedly recognized, too.

Egyptian Forces Appear to End Siege of Ministry (jdargis)

They were the fifth and sixth such walls built across streets in the vicinity of Tahrir Square and the interior ministry in its so-far futile attempts to suppress a series of such battles since October. Along with the tableau of burned out buildings and cars, rubble strewn streets, and a thick dust of settled tear gas, the maze of barriers has completed the picture of a virtual war zone in the heart of the capital.

Keystone Kops (jdargis)

So while the United States needs to take its environmental management seriously, environmental supporters also need to choose their battles wisely. A tremendous effort went into blocking the Keystone XL pipeline in the name of weaning the United States off oil. But in fact, all that effort likely won't block the actual oil -- it will just find different ways to reach the U.S. market.

U.N. Says Somalia Famine Has Ended, but Warns That Crisis Isn’t Over (jdargis)

Last year, a punishing drought killed livestock and turned once-fertile farms into fields of dust. Malnutrition and death rates soared, and hundreds of thousands of impoverished Somalis embarked on desperate treks across the desert, seeking help. Some starving mothers arrived at refugee camps in Kenya with dead children strapped to their backs. The few working hospitals in Mogadishu, Somalia’s capital, were soon so besieged with dying people that they resembled morgues.

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2 Comments

littlefeatfan's picture
littlefeatfan
Status: Silver Member (Offline)
Joined: Jul 20 2009
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3E Links, Cartoons, Resources Weekly Summary

posted at  http://3es.weebly.com/ 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
Pension liabilities to hit earnings of US blue-chips

 

"The funding gap for pension plans of S&P 500 companies almost doubled in 2011, analysts say, to around $450bn, as bond yields dropped, causing the size of future liabilities to grow. "

........Google search showing the quote.

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