The New Greek Tragedy: February 2012

Welcome

The New Greek Tragedy

It’s the year 2012 AD and you’d think humanity, with all the advances in technology and communication, would have converted more of the explosion of information into knowledge and wisdom!

Sadly, we have not.

No, what history has allowed us to do with new technology is simply better-document the triumph of human nature over personal responsibility, accountability and moral courage.

Personally, I attribute this to an increasingly luxurious life provided by modern society offering far less opportunity to develop personal character, creating a direct and instant race to full depravity. In other words, the shortest path of least resistance to base human behavior.

All issues of the day are subordinate to the impending financial destruction of the western civilization. Greek tragedies were popular as an art form in the theaters of Athens 2,500 years ago; however, today we witness reality instead of entertainment, offering real human suffering — instead of pleasure — to the audience.

I invite you to visit daily as I provide organized headlines based on each day’s news to document what I call the Cultural War within leading to The New Greek Tragedy (both the Greeks and EU’s in general, followed shortly thereafter by most of the western financial world who, financially, are leveraged negatively in the extreme).

Eerily and ironically, it strongly parallels the chilling prophecy Nikita Kruschev, who succeeded Joseph Stalin as leader of the Soviet Union, remarked to Ezra T. Benson, who served as the Secretary of Agriculture during the Eisenhower administration, during Kruschev’s visit. Kruschev said it will be the slow injection of socialist/communist principles into America, not nuclear missiles, that would destroy our nation.

And like frogs sitting in a slow-boiling pot, we're just sitting back and watching.

Monday, February 27, 2012

The New Greek Tragedy

for 2/27/2012

Financial Crisis

Commodities

Europe

Riksbank Denies IMF Data Showing Sweden Gold Reserves Up Sharp 18.3 Tons in January

http://www.zerohedge.com/

Warren Buffett Favors Wells As The "Single Best Bank To Own": A Comparative Returns Analysis

http://www.zerohedge.com/

Depression

Credit Card Debt Nears Toxic Levels

http://www.myfoxdc.com/dpps/news/credit-card-debt-nears-toxic-levels-dpgonc-km-20120226_18232559

Dish Network to close 500 Blockbuster stores

http://www.cnbc.com/id/46520304

Wine Cache Rescues Those Short of Cash

http://www.cnbc.com/id/46540926

Growth

Pending Home Sales Rise to Near Two-Year High

http://www.cnbc.com/id/46539855

Economists See More Reasons for Optimism: NABE

http://www.cnbc.com/id/46538343

Inflation

More bad news: U.S. water bills to triple

http://washingtonexaminer.com/politics/washington-secrets/2012/02/more-bad-news-us-water-bills-triple/317086

Personal Debt

U.S. Student Debt Rises to $867B: New York Fed

http://www.bloomberg.com/news/2012-02-27/u-s-student-debt-rises-to-867b-new-york-fed.html

Recession

europe

Lofty oil new headache for debt-ridden Europe

http://www.reuters.com/article/2012/02/24/us-eurozone-economy-oil-idUSTRE81N0UF20120224

A New U.S. Recession is Inevitable

http://www.newsmax.com/StreetTalk/Achuthan-us-Recession-economy/2012/02/27/id/430623

Oil price rise raises specter of global recession (Analysis)

http://www.reuters.com/article/2012/02/26/us-oil-recession-idUSTRE81P0JA20120226

Residential Mortgage Crisis

Buffett: Banks Victimized by Evicted Homeowners

http://www.bloomberg.com/news/2012-02-27/buffett-says-banks-victimized-by-evicted-homeowners-who-emerged-as-winners.html

Sovereign Debt

europe

George Osborne: UK has run out of money

The Government 'has run out of money' and cannot afford debt-fuelled tax cuts or extra spending, George Osborne has admitted

http://www.telegraph.co.uk/news/politics/9107485/George-Osborne-UK-has-run-out-of-money.html

Merkel: ‘Incalculable’ Damage If Greek Plan Rejected

http://www.bloomberg.com/news/2012-02-27/merkel-rebuffs-bigger-euro-firewall-as-she-backs-financial-aid-for-greece.html

Anti-Greece Statements Will 'Destroy' Deal: Greek Minister

http://www.cnbc.com/id/46538130

Default Risk in Europe Nine Times Higher Than Treasuries After Greek Pact

http://www.bloomberg.com/news/2012-02-27/default-risk-in-europe-nine-times-higher-than-treasuries-after-greek-pact.ntml

Merkel Hoses Down Talk of Firewall Boost

http://online.wsj.com/article/SB10001424052970204520204577249261219281598.html? mod=WSJEurope_hpp_LEFTTopStories

Germany Holds Its Nose for Another Greek Bailout

http://news.yahoo.com/germany-holds-nose-another-greek-bailout-173740156.html;

_ylt=AsZ034vpGq5ofDDYrvtZUSms0NUE; _ylu=X3oDMTNqaGo5dG80BG1pdAMEcGtnAzNhODg0MWJkLTQ5Y2QtM2JhMi1hMDQyLWE2YWQ5MzQ1NTg4YQRw

G20 to Europe: Show us the money

http://www.reuters.com/article/2012/02/27/us-g-idUSTRE81N1L620120227

ECB Prepares to Open Loan Spigot Again in Debt Crisis

http://www.cnbc.com/id/46532683

Geithner Says Europe Has Lowered Risks of 'Catastrophe'

http://www.cnbc.com/id/46534719

3 doomsaying experts who foresee economic devastation ahead

http://www.usatoday.com/money/perfi/stocks/story/2012-02-26/stock-market-bears-doomsayers/53259742/1

Art Cashin On The World Running Out Of Ideas To Bail Out Itself

http://www.zerohedge.com/

Guest Post: The Trajectory Of Tragedy

http://www.zerohedge.com/

Mountain Of Worry Shifts From Olympus To Zagros

http://www.zerohedge.com/

GWOT

War

Asia

N. Korea Vows ‘Sacred War’ Over U.S.—S. Korea Drills

http://www.defensenews.com/article/20120225/DEFREG03/302250001/N-Korea-Vows-8216-Sacred-War-8217-Over-U-S-S-Korea-Drills

Middle East

Al-Qaida seen moving in new terror direction

Intelligence warns of European strike around London Olympics

http://www.wnd.com/2012/02/al-qaida-seen-moving-in-new-terror-direction/

Iran prepares for kamikaze attacks

Tehran military on high alert with planes, speedboats in Persian Gulf

http://www.wnd.com/2012/02/iran-prepares-for-kamikaze-attacks/

Israel, Kurdish fighters destroyed Iran nuclear facility, email released by WikiLeaks claims

In exchange released by website, worker at Stratfor intelligence firm doubts validity of a source claiming an Israeli ground force had already wiped out Iran's nuclear infrastructure

http://www.haaretz.com/news/diplomacy-defense/israel-kurdish-fighters-destroyed-iran-nuclear-facility-email-released-by-

Israeli Attack On Iran Might Pull U.S. Into New War

http://news.yahoo.com/israeli-attack-iran-might-pull-us-war-131844092.html

Iran Seen 'Struggling' With New Nuclear Machines

http://www.newsmaxworld.com/global_talk/Iran_Seen_Struggling_Wi/2012/02/27/436206.html

Israel Seen Slow to Dig in as Iran War Talk Simmers

http://www.newsmaxworld.com/global_talk/_Israel_Seen_Slow_to_Dig_/2012/02/27/436205.html

How Long Will the Iranian Standoff Last?

http://www.cnbc.com/id/46509969

Suspected assassins: We're no longer terrorists

Anti-Iranian faction gaining endorsements in effort to be removed from danger list

http://www.wnd.com/2012/02/suspected-assassins-were-no-longer-terrorists/

'US to announce aerial blockade on Syria'

US readies for possibility of intervention without UN resolution, Asharq Al-Awsat reports, citing US military official; plan to include humanitarian aid to Syrian refugees on Turkey's border

http://www.ynetnews.com/articles/0,7340,L-4194506,00.html

China calls US critique on Syria "super arrogant"

http://www.bbc.co.uk/news/world-asia-china-17175658

Clinton appeals for all Syrians to abandon Assad

http://news.yahoo.com/clinton-appeals-syrians-abandon-assad-140825440.html

How to bring down Assad (Commentary)

http://www.washingtonpost.com/opinions/how-to-bring-down-assad/2012/02/23/gIQAOsyfYR_story.html

Obamacare

Constitutionality

Feds sued over Kagan's Obamacare role

'Integrity of the court requires a full airing of those facts'

http://www.wnd.com/2012/02/feds-sued-over-kagans-obamacare-role/

Cultural War

Communism

Can Obama's detention plans be stopped?

'Journalists aren't safe. Union leaders aren't safe. Liberty is not safe'

http://www.wnd.com/2012/02/dems-gop-work-together-to-stop-detention-plans/

Conservatism

Actor Kirk Cameron‘s ’Monumental‘ Film Looks to Rediscover America’s ‘National Treasure’

http://news.yahoo.com/actor-kirk-cameron-monumental-film-looks-rediscover-america-171220464.html;ylt=AnqYLZDOHQbIgQ.f2MU962us0NUE; _ylu=X3oDMTNpamp0dXJyBG1pdAMEcGtnAzIyNzgwNzBjLTM3ZDQtM2VhZS05NWRiLWNkOTU4ZDI4Mjg0NwRwb3M

Socialism

It’s Coming: Union, Leftist Leaders Announce ‘99% Spring?’... and Training in ‘Places of Worship’

http://news.yahoo.com/coming-union-leftist-leaders-announce-99-spring-training-171825985.html;_ylt=AhOtxP4_iCiFgix.

Politics

2012 Election

Obama Plays Race Card, Calls on Churches to Support Campaign

http://www.prisonplanet.com/obama-plays-race-card-calls-on-churches-to-support-campaign.html

Louis Farrakhan warns of racial hatred that could lead to attempts to kill President Obama

Nation of Islam leader in Chicago to speak at annual event

http://www.chicagotribune.com/news/local/ct-met-farrakhan-founders-day-20120227,0,7846023.story

Ed Gillespie: Obama Makes World 'More Dangerous'

http://www.newsmax.com/Newsfront/obama-world-dangerous/2012/02/27/id/430650

Dershowitz: Media Matters will be re-election issue

Vows crusade against Obama for anti-Fox News group's rhetoric on Israel

http://www.wnd.com/2012/02/dershowitz-media-matters-will-be-re-election-issue/

Poll: 75 percent of Americans think wealthy should pay 30 percent or less in taxes

http://www.foxnews.com/politics/2012/02/27/poll-75-percent-americans-think-wealthy-should-pay-30-percent-or-less-in-taxes/

Media Matters boss paid former partner $850G 'blackmail' settlement

http://www.foxnews.com/politics/2012/02/27/media-matters-boss-paid-former-partner-850g-blackmail-settlement/

Tough Re-election Road Awaits Michele Bachmann

http://www.newsmax.com/Newsfront/bachmann-re-election-tea-party/2012/02/27/id/430681

Capitalism

asia

World Bank to China: Free up your economy or bust

http://money.cnn.com/2012/02/26/news/economy/china_world_bank/index.htm?cnn=yes&hpt=hp_t3

Communism

Guess who folded now?

http://www.sovereignman.com/

Conservatism

It's time D.C. understood: 'This Is Our America'

Listen to song that could become anthem of 2012 election

http://www.wnd.com/2012/02/its-time-d-c-understood-this-is-our-america/

Corruption

Guest Post: The Perfection Of Crony Capitalism: Use Regulation To Destroy Competitors

http://www.zerohedge.com/

Elitism

asia

China Congress of Billionaires Makes Capitol Hill Peers Look Like Paupers

http://www.bloomberg.com/news/2012-02-26/china-s-billionaire-lawmakers-make-u-s-peers-look-like-paupers.html

Hypocrisy

Michelle Lets Governors Gorge on 2,000 Calorie Dinner

http://www.whitehousedossier.com/2012/02/27/michelle-governors-gorge-2000-calories/

Blurred Line Between Espionage and Truth

http://www.nytimes.com/2012/02/27/business/media/white-house-uses-espionage-act-to-pursue-leak-cases-media-equation.html?_r=3&ref=todayspaper

International Discourse

Middle east

Iran, Lebanon talk defence ties, slam Israel

http://www.breitbart.com/article.php?id=CNG.252b6563a32447d99da0140e35d9f220.a91&show_article=1

Security

Secret Service Laxness Puts President at Risk

http://www.newsmax.com/Newsfront/President-Obama-Secret-Service/2012/02/27/id/430652

Socialism

House to Vote on Bill to Overturn Supreme Court's Eminent Domain Decision

http://www.newsmax.com/US/Eminent-domain-Supreme-Court/2012/02/27/id/430679

Strategy

Lack of national policy hobbles U.S. manufacturing: study

http://www.reuters.com/article/2012/02/27/us-usa-economy-manufacturing-idUSTRE81Q1EU20120227

Health

Disease

Is Soda Making You Sick?

http://www.newsmaxhealth.com/headline_health/Dangerous_Soda/2012/02/27/436202.html

Research

Health

Ovarian Stem Cells Produce Eggs in Method That May Aid Fertility Therapy

http://www.bloomberg.com/news/2012-02-26/ovarian-stem-cells-produce-eggs-in-method-that-may-aid-fertility-therapy.html

Scientists Use Stem Cells to Generate Human Eggs

http://www.nytimes.com/2012/02/27/health/research/scientists-use-stem-cells-to-generate-human-eggs.html?hp

Travel

Central America

Secrets to the 10 most popular cruise ports

http://www.foxnews.com/travel/2012/02/27/secrets-to-10-most-popular-cruise-ports/?intcmp=features#ixzz1nZghhNc2

WikiLeaks

Cyberwarfare

WikiLeaks publishes security think tank emails

http://www.reuters.com/article/2012/02/27/us-wikileaks-stratfor-idUSTRE81Q01Q20120227

Life's Rich Pageant

Darwin Award

Robber Tries to Buy Back Gun From Victims: Cops

Mitchell faces charges of armed home invasion and resisting an officer

http://www.nbcmiami.com/news/local/Man-Returns-to-Robbery-Scene-to-Buy-Back-Gun-He-Dropped-140294243.html

Disease

asia

Doctors remove football-sized tumor from woman's ovary

http://www.foxnews.com/health/2012/02/27/doctors-remove-football-sized-tumor-from-womans-ovary/

Gay Rights

Lawyer: Lesbians’ assault on gay man can’t be hate crime

http://bostonherald.com/news/regional/view/20220225lawyer_lesbians_assault_on_gay_man_cant_be_hate_crime/srvc=home%26position=2

Growth

asia

China to Be Largest Economy Before 2030: World Bank

http://www.cnbc.com/id/46537810

The category Life’s Rich Pageant is based on an English idiom. If you wish to be added to the daily distribution list e-mail Steve at steven.thompson@comcast.net.

Sunday, February 26, 2012

The New Greek Tragedy

for 2/26/2012

Financial Crisis

Inflation

Prices rise above $5 for a gallon in Los Angeles

http://news.yahoo.com/photos/prices-rise-above-5-gallon-premium-gas-shell-photo-221259219.html

Investment

Is 'Derisking' Even Riskier?

http://online.wsj.com/article/SB10001424052970204778604577243302119518244.html? mod=WSJEUROPE_hpp_sections_markets

Recession

U.S. factory jobs rebound seen destined to fizzle (Analysis)

http://news.yahoo.com/analysis-u-factory-jobs-rebound-seen-destined-fizzle-201437015.html; _ylt=Aum72EFcyEbbKf4Vdcn80IOs0NUE; _ylu=X3oDMTNqOWpoZ2FhBG1pdAMEcGtnAzZkYzJkZDI1LTU2N2YtM2M2ZS1hZjQ1LTY5NDI4NzNiYWYyMQRwb3M

Residential Mortgage Crisis

Student Debt Is Stifling Home Sales

Grads with high debt can't get mortgages, even if they can afford them—another block to a housing recovery

http://www.businessweek.com/magazine/student-debt-is-stifling-home-sales-02232012.html

Socialism

Animation: America's Metamorphosis To A Welfare State

http://www.zerohedge.com/

Sovereign Debt

Europe

Geithner, Schaeuble Spar Over Debt Crisis

http://www.bloomberg.com/news/2012-02-26/geithner-schaeuble-spar-over-sovereign-debt-crisis.html

G20 moves to line up huge rescue deal for April

http://www.reuters.com/article/2012/02/26/us-g-idUSTRE81N1L620120226

The Failing State of Greece

http://www.nytimes.com/2012/02/26/sunday-review/the-failing-state-of-greece.html?ref=global-home

Ben Davies: Greece Is Just A Preview Of What's Coming For The Rest Of Us

http://www.zerohedge.com/

Mark Grant On The Greek Annexation

http://www.zerohedge.com/

Guest Post: Another View On Default Cascades

http://www.zerohedge.com/

IceCap Asset Management: Tug Of War

http://www.zerohedge.com/

US deficit 'accident waiting to happen,' says IIF head

http://news.yahoo.com/us-deficit-accident-waiting-happen-says-iif-head-181434972.html

GWOT

Extremism

Middle East

Planning for Islamic caliphate to begin

Goals given boost when Obama administration legitimizes ban on criticism

http://www.wnd.com/2012/02/planning-for-islamic-caliphate-to-begin/

Author Feaman: Political Correctness Hides Radical Islam's Danger

http://www.newsmax.com/US/Feaman-radical-Islam-political/2012/02/26/id/430566

War

Asia

2 U.S. Officers Slain; Advisers to Exit Kabul Ministries

http://www.nytimes.com/2012/02/26/world/asia/afghanistan-koran-burning-protests-enter-fifth-day.html? _r=2&partner=MYWAY&ei=5065

Middle East

Iran Defense Official: Iran's Warriors 'Ready to Wipe Israel Off the Map'

http://www.newsmax.com/Newsfront/Iran-defense-wipe-Israel/2012/02/26/id/430584

Defense

Weapons

Israel Inks $1.6 Billion Arms Deal With Azerbaijan

http://www.newsmax.com/Newsfront/Israel-Iran-arms-deal/2012/02/26/id/430563

Cultural War

Extremism

Occupy Activists‘ ’Mic Check’ Prompts Physical Altercation at Pro-Israel College Event

http://news.yahoo.com/occupy-activists-mic-check-prompts-physical-altercation-pro-201816378.html; _ylt=AilHux8pazpXjs1h4AN6Jdes0NUE; _ylu=X3oDMTNpbnBkOXIyBG1pdAMEcGtnA2JkMjNlZjk5LTIyMTktMzc2Ni1iNTNlLWNhZjY3ZmE4YjY0MARwb3MDMQR

Oppression

U.S. 'making raw milk look dangerous'

CDC accused of skewing statistics

http://www.wnd.com/2012/02/cdc-accused-of-skewing-its-stats/

Politics

2012 Election

middle east

Iran election campaigners seek refuge in Islamic rhetoric

http://www.reuters.com/article/2012/02/26/us-iran-election-campaign-idUSTRE81P0CE20120226

Gingrich Warns of Role of 'Secular Left'

http://www.newsmax.com/Politics/Gingrich-Republican-secular-left/2012/02/26/id/430576

Prize-winning journalist runs against Pelosi's 'right-hand man'

Ken Timmerman wants to take his investigative skills to Congress

http://www.wnd.com/2012/02/prize-winning-journalist-runs-against-pelosis-right-hand-man/

Fla lawmaker resigns over sexy texts to prosecutor

http://apnews.myway.com/article/20120224/D9T413FG0.html

Defense

Obama accused of ignoring security in plane deal

'It is wrong to hire a Brazilian company when we have a qualified American company'

http://www.wnd.com/2012/02/obama-accused-of-ignoring-security-in-plane-deal/

Extremism

middle east

As government-in-waiting, Egypt's Brotherhood finds voice

http://www.reuters.com/article/2012/02/26/us-egypt-brotherhood-idUSTRE81P07420120226

Health

Abortion

europe

Sex-selection abortions are 'widespread’

A former medical director of the country’s largest abortion provider said it was “well known” that women were terminating pregnancies because of the gender of the child and that he had been asked by women to arrange the procedure for this reason

http://www.telegraph.co.uk/health/healthnews/9104994/Sex-selection-abortions-are-widespread.html

Drug War

Central america

Mexican researchers patent heroin vaccine

http://www.reuters.com/article/2012/02/24/us-mexico-heroin-idUSTRE81N01I20120224

Environmental

Communism

Guest Post: World Bank Wants Control Of The High Seas

http://www.zerohedge.com/

Life's Rich Pageant

Behavior

Babies aware of environment earlier than thought

http://www.thelocal.de/sci-tech/20120221-40865.html

Drug War

Europe

One in seven Cambridge students 'has sold drugs to help pay their way through university'

http://www.dailymail.co.uk/news/article-2106250/One-seven-Cambridge-students-sold-drugs-help-pay-way-university.html

The category Life’s Rich Pageant is based on an English idiom.

We're a Going Concern alright!

I have a B.S. in Accounting, an MBA and 12 years of experience in accounting, finance and management positions. I have handled finances of several businesses and know what it takes financially to keep a company alive and running.

Unfortunately, Congress and the President’s fiscal actions since 2008 raise the accounting issue of Going Concern. The assumption holds that “in the absence of evidence to the contrary, accountants assume that entity operations will continue for a reasonable period of time; that is, the entity will not be liquidated in the near future,” Intermediate Accounting, Third Edition, Williams, Stanga and Holder, 1989.

If you look at the U.S. through the factors accountants consider when analyzing the Going Concern assumption of any entity, private or public, a standardized perspective of the severity of the situation is appreciated (standards below taken from a recent Statement on Auditing Standards):

· Negative trends (recurring operating losses, working capital deficiencies, negative cash flow from operations, adverse key financial ratios, etc.)—With a few exceptions, decades of recurring operating losses (budget deficits), which caused working capital deficiencies, negative cash flow from operations and adverse key financial ratios, but are now considered ‘normal’ simply because we’ve been in this financial situation for decades. Very important people are now saying it’s very serious.

· Other indications of possible financial difficulties (default on loan or similar agreements, arrearages in dividends, denial of usual trade credit from suppliers, restructuring of debt, noncompliance with statutory capital requirements, need to seek new sources or methods of financing or to dispose of substantial assets):

o The U.S. came within a few days of defaulting on its debt in August 2011.

o The public equivalent of arrearages in dividends is tax refunds. Numerous stories have documented IRS 2011 tax refund delays.

o Restructuring of debt is occurring through Operation Twist.

o New sources of income and disposing of assets also continue.

· Internal matters (work stoppages or other labor difficulties, substantial dependence on the success of a particular project, uneconomic long-term commitments, need to significantly revise operations):

o Cutting tens of thousands of military personnel certainly qualifies as labor difficulties.

o The U.S. is the epitome of uneconomic long-term commitments, with deficits more than 40% of our budget and nothing, including debt brinksmanship, has significantly reduced this rate of debt accumulation, which is an order of magnitude faster than 4 years ago.

o Need to significantly revise operations—In 2011 the U.S.’ mandatory spending (Social Security, Medicare, Medicaid, etc.) alone exceeded all Federal receipts. In other words, when investors (the Fed is not an investor but a money printer deflating your wealth in the extreme) stop buying Treasuries, the U.S. government will still not have enough money to pay all mandatory obligations EVEN IF THE ENTIRE EXECUTIVE, LEGISLATIVE AND JUDICIAL BRANCHES OF THE GOVERNMENT ARE COMPLETELY SHUT DOWN. If you think the riots in Europe were bad, just wait …

· External matters (legal proceedings, legislation, similar matters that might jeopardize an entity’s ability to operate; loss of a key franchise, license or patent; loss of a principal customer or supplier; uninsured or underinsured catastrophes such as drought, earthquake or flood)—The big one here is loss of a principal customer/supplier. In other words, shortly after Europe collapses financially the market spotlight will shine on the U.S. government, investors will suddenly realize our fiscal situation is far worse than Europe’s ever was and Chinese, Japanese and all other sovereigns will stop U.S. bond purchases. Goodbye reserve currency status, hello hyperinflation.

Factors will vary in importance and may not be individually significant. Collectively or in partial combination with each other, however, they may tell a great deal about the future prospects of a business. In our case, the facts paint the succinct picture of “It’s not if the U.S. defaults, but when.”

While factors may exist that tend to mitigate the seriousness or significance of the negative information, the current situation of the U.S. is just the opposite: factors exist that tend to exacerbate the seriousness and significance of the negative information.

For example, how would you rate the probability of our public masters (No longer servants. To understand, please read The Road to Serfdom) adequately addressing our debt accumulation when 2011’s debt default episode’s final resolution ONLY reduced the budget deficit rate less than 3 percent?

The New Greek Tragedy

for 2/25/2012

Retirement

Investment

How much does retirement really cost?

http://www.reuters.com/article/2012/02/24/us-column-miller-retirementcost-idUSTRE81M24M20120224

Financial Crisis

Depression

EUROPE

Lloyds expects lower income in 2012

http://edition.cnn.com/2012/02/24/business/uk-lloyds-loss/index.html?hpt=hp_bn1

Buffett Says He Was 'Dead Wrong' on Housing Market

http://www.newsmax.com/US/BuffettLetter/2012/02/25/id/430532

Sears to ‘Unload’ 1,200 Stores?

http://abcnews.go.com/blogs/business/2012/02/sears-to-unload-1200-stores/

Ex-Cop Admits To Robbing Bank To Get Health Benefits In Federal Prison

http://atlanta.cbslocal.com/2012/02/24/ex-cop-admits-to-robbing-bank-to-get-health-benefits-in-federal-prison/

Guest Post: The "Housing Recovery" In One Index

http://www.zerohedge.com/

Remaining Abandoned Chickens Turned Over Two Rescue Groups

http://sacramento.cbslocal.com/2012/02/23/remaining-chickens-turned-over-two-rescue-groups/

Elitism

EUROPE

European bank bonus cuts mask basic pay hikes (Analysis)

http://www.reuters.com/article/2012/02/23/us-banks-bonuses-idUSTRE81M1DH20120223

Inflation

Why College Aid Makes College More Expensive (Analysis)

New research shows how federal spending on higher education can backfire

http://www.smartmoney.com/spend/family-money/why-college-aid-makes-college-more-expensive-1330033152060/

Investment

asia

Thailand Best After China Among Emerging Markets

http://www.bloomberg.com/news/2012-02-22/thailand-proving-best-after-china-among-global-emerging-markets.html

Euphoria Shifts From Stocks To Commodities

http://www.zerohedge.com/

NYSE Volume At New Decade Low

http://www.zerohedge.com/

Grantham Nails It: "The Industry So Much Prefers Bullishness...So Does The Press"

http://www.zerohedge.com/

Recession

ECRI Sticks to Recession Call, Even Amid Positive Signs

http://www.cnbc.com/id/46513890

Residential Mortgage Crisis

Rents Keep Rising, Even as Housing Prices Fall

http://www.cnbc.com/id/46523606

Are You a Default Risk?

http://online.wsj.com/article/SB10001424052970204778604577241191123819730.html? mod=WSJEurope_hps_MIDDLE_Video_Third

Sovereign Debt

Europe

Juncker: "Greece May Need A Third Bailout"

http://www.zerohedge.com/

Greek Debt Deal Merely Buys Time: World Bank's Zoellick

http://www.cnbc.com/id/46522445

No Silver Bullet to Resolve Europe Debt Crisis, World Bank’s Zoellick Says

http://www.bloomberg.com/news/2012-02-25/no-silver-bullet-to-resolve-europe-debt-crisis-world-bank-s-zoellick-says.html

G20 inches toward $2 trillion in rescue funds

http://www.reuters.com/article/2012/02/26/us-g-idUSTRE81N1L620120226

British Discover Raising Tax Rates Lowers Revenue

http://thenewamerican.com/world-mainmenu-26/europe-mainmenu-35/10961-british-discover-raising-tax-rates-lowers- revenue

Economic doomsday predictions gathering strength

Bipartisan Policy Center joins warning that debt ceiling, election will collide

http://www.wnd.com/2012/02/economic-doomsday-predictions-gathering-strength/

Wyoming House advances doomsday bill

http://trib.com/news/state-and-regional/govt-and-politics/wyoming-house-advances-doomsday-bill/article_af6e1b2b-0ca4 -553f-85e9-92c0f58c00bd.html

David Rosenberg Presents The Six Pins That Can Pop The Complacency Bubble

http://www.zerohedge.com/

GWOT

Extremism

'Sovereign citizen' movement now on FBI's radar

The Homeland Security Department has ranked the movement as a major threat. Its members reject the law, and some kill police

http://www.latimes.com/news/nationworld/nation/la-na-terror-cop-killers-20120224,0,5474022.story

War

Asia

2 American officers killed in Afghan ministry

http://edition.cnn.com/2012/02/25/world/asia/afghanistan-americans-killed/index.html?hpt=hp_t3

Middle East

Mideast war in March?

NATO considering intervention as opposition fights Syrian regime

http://www.wnd.com/2012/02/mideast-war-in-march/

Hopes For Peace Dim As Tehran Lashes Out

http://www.lignet.com/ArticleAnalysis/Hopes-for-Diplomacy-With-Iran-Dim-as-Tehran-Lashes? s=al&PROMO_CODE=E158-1

U.S. Bulks Up Iran Defenses

Pentagon Plans New Sea, Land Measures to Counter Any Attempt to Close Persian Gulf Oil Gateway

http://online.wsj.com/article/SB10001424052970204778604577243640137724400.html? mod=WSJEUROPE_hpp_MIDDLETopNews

U.S. Agencies See No Move by Iran to Build a Bomb

http://www.nytimes.com/2012/02/25/world/middleeast/us-agencies-see-no-move-by-iran-to-build-a-bomb.html?_r=2&hp

Iran uranium "discrepancy" still unresolved: IAEA

http://www.reuters.com/article/2012/02/25/us-nuclear-iran-uranium-idUSTRE81O08V20120225

'Iran ready to wipe Israel off the map'

Tehran's deputy defense minister warns Jerusalem against strike on Iran's nuclear facilities, says 'any action by Zionist regime will bring about its destruction'

http://www.ynetnews.com/articles/0,7340,L-4194444,00.html

Israel raids south Gaza after rocket attacks

http://news.yahoo.com/israel-raids-south-gaza-rocket-attacks-014001863.html;_ylt=At2aXZciaE5dffVV4Si4wbWs0NUE; _ylu=X3oDMTNsOGk2ZjRoBG1pdANUb3BTdG9yeSBGUARwa2cDNTgzNzc3NWQtNzc5Ny0zMzBkLTliNmMtMmViMzIw OGFjMDIxBHBvcwM2BHNlYwN0b3Bfc3RvcnkEdmVyAzI2NzZmODIwLTYwMWItMTFlMS1iNWVlLWJiOTIzNTA0NzllOA--

Cultural War

Journalism

WND gets good news in suit against Esquire

Magazine facing $250 million action for false report

http://www.wnd.com/2012/02/wnd-gets-good-news-in-suit-against-esquire/

Religion

Anti-Mormon bias persists, notably among Democrats

http://washingtonexaminer.com/politics/2011/06/anti-mormon-bias-persists-notably-among-democrats/115623

Revolution

Africa

Senegal's democracy at stake in troubled election

http://www.reuters.com/article/2012/02/24/us-senegal-election-idUSTRE81N1QY20120224

Politics

2012 Election

Europe

Anti-Putin rally held in his hometown

http://hosted.ap.org/dynamic/stories/E/EU_RUSSIA_PROTEST? SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-02-25-08-05-47

VP Biden: 'Americans Are Tired Of Being Tired'

Community College To Career Bus Tour Rolls Into Davidson County

http://www.wxii12.com/news/30535232/detail.html#ixzz1nKMTH2wM

Are Republican Hopefuls Swinging Too Far Right?

http://news.yahoo.com/republican-hopefuls-swinging-too-far-031939559--abc-news.html;_ylt=AmeSnkLivernAV1tgohvZLas0NUE;_ylu=X3oDMTNpbDIydGh0BG1pdAMEcGtnA2YwZDljNWJjLTc3Y2ItMzYxZi05OWE5LWViZTViYjY0NGNmYwRwb3MDNQRzZWMDbG5fTGF0ZXN0TmV3c19nYWwEdmVyA2EzYjYxM2QwLTYwMjktMTFlMS1iZjk1LTRmYzFlODc5YjZlOQ--;_ylv=3

Is Santorum a threat to religious liberty?

Exclusive: Kathy Shaidle covers static over 'Satan,' more from America's top hosts

http://www.wnd.com/2012/02/is-santorum-a-threat-to-religious-liberty/

Specter: Santorum candidacy not ‘realistic’

http://www.washingtontimes.com/news/2012/feb/24/specter-santorum-candidacy-not-realistic/

Do the GOP candidates get Iran? (Analysis)

http://edition.cnn.com/2012/02/24/opinion/walsh-gop-iran/index.html?hpt=hp_bn4

Mayoral Candidate Claims Rival Sent Him Topless Dancer, Taped Lap Dance

http://lasvegas.cbslocal.com/2012/02/24/mayoral-candidate-claims-rival-sent-him-topless-dancer-taped-lap-dance/

Autos

Obama’s Green-Car Plan Runs Into Limits

http://www.bloomberg.com/news/2012-02-24/obama-s-green-car-plan-runs-into-alternative-fuel-limits-cars.html

Energy

'Obama waging war against fossil fuels'

Rep. Johnson: 'The president's policies are hurting hardworking taxpayers'

http://www.wnd.com/2012/02/obama-waging-war-against-fossil-fuels/

Extremism

Middle East

Clinton warns of Arab Spring backsliding

http://hosted.ap.org/dynamic/stories/M/ML_TUNISIA_US? SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-02-25-07-14-42

Fraud, Waste or Abuse

Green company gets $390M subsidies, lays off 125

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/green-company-gets-390m-subsidies-lays -125/394051

Gay Rights

Maryland Republican: Meeting gay couples left me 'changed person'

http://www.latimes.com/news/politics/la-pn-maryland-gay-marriage-republican-supporter-20120223,0,3727286.story

Liberalism

Md. OKs gay-marriage bill; Va. tables ‘personhood’ measure

http://www.washingtontimes.com/news/2012/feb/23/social-issues-dominate-state-lawmakers-debates/

Obamacare

Quinnipiac: Most Americans Want Obamacare Repealed

http://www.newsmax.com/Newsfront/quinnipiac-poll-repeal-obamacare/2012/02/24/id/430515

Political Correctness

Rocklin Considering Banning Residents From Smoking Outside Their Own Homes

http://sacramento.cbslocal.com/2012/02/24/rocklin-considering-banning-smokers-from-smoking-outside-their-own-homes/

Religion

Bible class in public high schools? Sure, says Arizona House

http://www.latimes.com/news/nation/nationnow/la-na-nn-arizona-bible-20120222,0,1459123.story

Health

Memory

Can’t focus? Take this quiz

http://www.foxnews.com/health/2012/02/23/cant-focus-take-this-quiz/

Sleep

How to fake a good night's sleep

http://www.foxnews.com/health/2012/02/23/how-to-fake-good-nights-sleep/

Environmental

Hypocrisy

Documents: PETA kills more than 95 percent of pets in its care

http://dailycaller.com/2012/02/24/documents-peta-kills-more-than-95-percent-of-pets-in-its-care/#ixzz1nP1mXYuv

Technology

Privacy

Manage (and make cash with?) your data online

http://edition.cnn.com/2012/02/24/tech/web/owning-your-data-online/index.html?hpt=hp_bn9

Travel

Entertainment

Central America

Jamaica's secret caves and waterfalls

http://www.foxnews.com/travel/2012/02/25/horseback-cliff-diving-rank-among-jamaicas-top-attractions/?intcmp=features

Life's Rich Pageant

Conundrum

Asia

Hogs going wild in Pakistani capital

http://hosted.ap.org/dynamic/stories/A/AS_PAKISTAN_BOAR_WARS? SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-02-25-03-19-44

Religion

Chicago Woman Gives Up Facebook For Lent

http://chicago.cbslocal.com/2012/02/24/chicago-woman-gives-up-facebook-for-lent/

Sleep

New York air traffic controllers filmed 'sleeping on the job'

http://www.dailymail.co.uk/news/article-2106016/New-York-air-traffic-controllers-filmed-sleeping-job.html

The category Life’s Rich Pageant is based on an English idiom.