Death Star Economics



Monday, #21

First things first, Mariano Rajoy, of the conservative People’s Party, is the new prime minister of Spain as of yesterday. But you knew that already.

Meanwhile in the US, the congressional super-committee is probably drafting a press statement including the words “fail boat”. The committee had been charged with the task to try to find a way to save $1.2tr over a period of 10 years, after Standard & Poor’s had downgraded the US from AAA to AA+ in August. So now that no money is being saved in Washington and fingers are being pointed at everyone. Worse than that however, is the uncertainty this brings to the markets.

And really, this is a prisoner’s dilemma like whoa… Democrats wanted to seal a deal including more short-term stimuli (like unemployment benefits and payroll tax cuts), while republicans wanted to save the military from facing $600bn automatic spending cuts from 2013 on. Now none of these things are going to happen and everybody is worse off. read article

Spotify and its friends Napster, Rdio and Simify are facing serious problems, as STHolding, a company owning 219 electronic music labels, has pulled their music from the platforms, because of its harmful impact on the industry. read article

Finally, from the Guardian datablog, a video about US income inequality (watch video) contrasted with Occupy Wall Street – The Musicalread article

So long.


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One Response

  1. […] really, all I have been waiting for is this: EuroCrash! – the musical. It reminds me of “Occupy Wall Street – the musical”, but this time around it is an actual musical, with a stage and actors and songs about sovereign […]

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