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Date Posted: 10:25:12 02/14/10 Sun
Author: Paul Davis
Subject: More economie woes sneaking up on us.

It's odd to me how the stock market can stay up as high as it is. Some think the bargain with the big "bank/hedge funds" was that they'd get support if they manipulated the market to keep it above 10K, so the 401K folks would not be looking for radical economic solutions.

It's not looking pretty. And a lot of banks are holding soverign debt of these countries.

http://online.wsj.com/article/SB10001424052748703525704575061172926967984.html

http://baselinescenario.com/2010/02/12/greece-derails-is-europe-far-behind/

Greece and bailouts could cause the breakup of the Eurozone.

http://money.cnn.com/2010/02/13/news/economy/federal_funds_for_states/index.htm

The states are out of money.

http://online.wsj.com/article/SB10001424052748703525704575061303885133636.html

Dubai is getting closer to going under. Just MHO, but I suspect the reason the Burj isn't opening is because they don't want to pay the electric bill.

http://www.nytimes.com/2010/02/13/business/global/13euecon.html

Growth in Europe has stopped. Germany is seeing no growth now, and that means they just aren't likely to pay anything to rescue Greece or any other country.

http://www.independent.co.uk/news/business/analysis-and-features/europes-economy-stumbles-1898295.html

And go read up on Ireland, it's a train wreck.

Plus, the China stimulus is coming to an end as well.

http://www.latimes.com/business/la-fi-china-bubble13-2010feb13,0,6024712.story

Oh, and here's something kind of amusing in a macabre way.

http://www.calculatedriskblog.com/2010/02/short-sales-arms-length-transactions.html

Yep, the speculators are still in there, and they are still breaking the law!

BTW, the good news? Only 440,000 people lost jobs!

http://www.calculatedriskblog.com/2010/02/weekly-initial-unemployment-claims_11.html

Of course, if you read the Administration claims, GDP will rise by 3% next year, and the economy will add about 100,000 jobs per month. Anyone want to make book on that?

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