Death Star Economics



Save the economy, no wait, the environment

Fitch warned the UK on its AAA rating (field day for Angela Merkel), a week ahead of the announcement of the new budget. More austerity measures can be expected all around, after the British economy shrank 0.2% in Q4 of 2011. (The paper towels in the kitchen of my office already significantly decreased in quality, and this is only the beginning.) read article

And as if that wasn’t depressing enough, the OECD announced that greenhouse gas emission could increase by 50%until 2050. That’s going to go down well with all that budget cutting… read article or press release Earlier, Reuters reported that Shell was being sued for single-handedly causing global climate change, but apparently that was a lie/misunderstanding of some sort.

And while we’re at it, here’s a map of the world’s largest nuclear power producers, soon to be missing Germany.see chart

Otherwise, David Cameron is still over in the US to take care of UK-US relations, oil supply and to watch basketball, and Apple‘s market cap ($542bn) is now larger than the entire US retail sector together (read the comments on ZeroHedge). On the latter: without Apple’s contribution, American corporate cash would have declined by $6bn last article

And finally, in response to yesterday’s Goldman Sachs bashingWilliam Cohan‘s take on it in the FT, and the outraged [and much funnier] reaction of the editors of Bloomberg View that is being very clear on something that continues to stir confusion across the globe: Goldman is not actually a charity organization.

So long.


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