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Ball point pen on today's newsprint The respected economist has been tapped to form a new government in Italy, but credentials aside, he's going to have a hard time. The country has a little over four months to repay or refinance over 200 billion euros in maturing bonds. While interest rates on those bonds have climbed to 7.4 percent, we know Jon Corzine won't be a buyer at that or any price. related post related post related post related post related post   ...

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Ball point pen on today's newsprint The countdown to default now stands at 12 days and the partisan bickering is still at a fever pitch. Of the 1oo senators sent to Washington to represent the people, only six seemed to want to do what's best without regards to political gain. That's a demoralizing ratio. ...

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Ball point pen on today's newsprint Ironic that the Greeks were the inventors of spectator sport and the tragedy. Today all eyes of Europe and the I.M.F. are on Greece. If the Greek government wins a vote of confidence tonight, it will get an immediate infusion of 12 billion euros and meet it's short term debt. If it fails to win the important vote, it's government will most likely default. Stay tuned related post related posts ...

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Ball point pen on the morning newsprint The Deficit for the coming year is eleven percent of GDP and the most optimistic of forecasts project unsustainable debt for at least ten more years. Translation: A Hard Rain's A-Gonna Fall. I saw ten thousand talkers whose tongues were all broken, indeed. ...

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Ball point pen on the morning newsprint The United Arab Emirates claim to be one country, but the religious, oil rich Abu Dhabi and it's current emir, Sheik Khalifa bin Zayed al-Nahyan seem hesitant to step in and bail out the secular, upstart Dubai, leading many to speculate about a rift between the two emirates. Dubai's reported debt now stands at 148% of it's GDP. ...

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