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14 Nov 2010 20:40

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World: Northern Ireland political icon Gerry Adams: Ireland needs my help

  • We need more voices that will stand up against the consensus for cuts – more voices that will stand up for ordinary people. We need new politics. We need a political realignment. A change of government without a change in policies will be worthless.
  • Sinn Fein leader Gerry Adams • Revealing his plans to leave Northern Ireland politics to run for parliament in Ireland’s mainland. It’s ironic that he says “voices” so many times in this quote. Adams’ voice was famously banned from British television in the ’80s due to his party’s ties to the Irish Republican Army. Adams has long been an advocate of making Northern Ireland a part of Ireland proper, but his reasons for running for Irish parliament are largely economic – he plans to run largely in opposition to the deep cuts current leadership is making in the country. We covered some of the country’s problems earlier today. source
Posted by Ernie Smith • 0 Comments • Permalink

14 Nov 2010 11:11

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Biz, World: Ireland getting peer pressure to take bailouts to ease debt

  • Anyone know where Ireland can find 15 billion euros by Tuesday? The country of potato bread and U2 (to grossly oversimplify) needs some extra money to allay fears of other, fiscally stronger European countries, such as Germany, as well as to calm local markets, which went haywire on Friday on debt concerns. Ireland denies the need for an immediate bailout (despite a banking system in tatters), but outside sources, such as Barclay’s Capital, suggest that the country could need €80 billion (or $110 billion) in bailouts between 2011 and 2013. German Chancellor Angela Merkel says that political needs (including her own) may be in play. “There may be a conflict here between the interests of the financial world and the interests of politicians,” she said. One source suggests the possibility of an Irish default could hurt her crisis-resolution plans. Meanwhile, Ireland plans to release a budget next month it hopes will ease debt concerns. source
Posted by Ernie Smith • 0 Comments • Permalink

27 May 2010 11:05

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Biz: China doesn’t do anything, and all of a sudden, stocks are happy

  • What went down: The Financial Times reported that China was thinking about ditching their European debt, which would be a huge blow for Europe’s economy. However, China denied these rumors, and reassured investors. Essentially, they stayed the course and singlehandedly turned stocks around. Not bad for doing nothing.
  • 1.7% the increase in the Dow Jones Industrial this morning
  • 2% the leap in
    the broader S&P 500
    after the news
  • 2.3% the leap in the tech-heavy Nasdaq 500 on the news source
Posted by Ernie Smith • 0 Comments • Permalink

23 May 2010 11:13

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World: Debt crisis victim: Europe’s strong social welfare programs?

  • seven number of workers for every European retiree now
  • 1.3 number of workers expected for
    every retiree in 2050 source
  • » Why this is bad for Europe: Most nations in the continent have largely benefited from low military spending and as a result have given retirees some strong social welfare benefits. But a number of factors – the debt crisis, the declining birth rate, the overall growing age of the population – have started to make this model look shaky.
Posted by Ernie Smith • 0 Comments • Permalink

10 May 2010 11:20

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Offbeat: Turtles not exactly the fastest form of canine transportation

  • After the Greek debt crisis leaves us all broke and without means to support ourselves, we won’t find the humor in videos of dogs riding turtles. So we might as well take advantage of it now before the world ends. So, without further ado, a dog riding a turtle.
Posted by Ernie Smith • 0 Comments • Permalink

10 May 2010 10:50

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Biz: Europe’s debt response gave U.S. stocks the bounceback they needed

  • 3.6% the current increase for the Dow Jones Industrial
  • 3.98% the boost for the S&P 500 thanks to Europe’s debt crisis response
  • 4.29% the current increase for the Nasdaq; this matches global markets source
Posted by Ernie Smith • 0 Comments • Permalink

10 May 2010 10:08

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Biz: As expected, the market loved Europe’s response to the debt crisis

  • 3% the worldwide stock increase after Europe put its full financial might behind the debt crisis
  • 2% the amount the Euro gained on the dollar; in recent days, it had been floundering source
Posted by Ernie Smith • 0 Comments • Permalink
 

06 May 2010 11:11

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World: Greece willing to “walk it alone” on drastic austerity plans

  • We will press ahead, even if we have to walk alone, without the backing of other parties.
  • Greek Finance Minister George Papaconstantinou • On the country’s plan to completely reboot its economy, despite large protests and heavy criticism from its citizens. If they can’t get help from its fellow European countries, they’ll do it anyway. In other news, PEOPLE DIED in these protests. Oh, and many are concerned that they will not have enough money to survive. Unfortunately, Greece is in a rock-hard place situation due to all of that debt, so widespread public concern may not be enough to shake the leadership. source
Posted by Ernie Smith • 1 Comment • Permalink
 
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