The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

VIDEO: Violent Riots Break Out in Athens as Greek Parliament Faces Key Debt Vote

Here is raw video of today’s riots in Athens: Greece has no alternative to passing the austerity plan if it wishes to prevent default on its debt, Reuters reports: Anti-austerity protests turned violent in Athens on Tuesday as the European Union warned Greek lawmakers the country faces immediate default unless they back an unpopular economic […]

Happy Anniversary, ‘Recovery Summer’

VIDEO: Greek Meltdown?

Here are a couple of video reports from EuroNews about this week’s big economic question: Can Greece deal with its debt crisis or will default trigger a global economic meltdown? At the Hot Air Green Room: The good news, such as it is: French banks have reportedly agreed to a plan to roll over Greek […]

Expecting the Unexpected

The media have nearly warn out an adverb — “Unexpectedly!” — in describing bad economic news in the past two years. So what should we expect when we read a sentence that begins like this? “Few economists are predicting an out-and-out return to recession, but . . .” Which prompts concerns for the Lonely Conservative: Um, are […]

Euro-Doom Looming?

The Standard & Poor 500 this week suffered its seventh week of losses in the past eight weeks, and the Dow Jones Industrial Average again closed below 12,000 on Friday. The problem? In a word, Europe: “Everybody is trying to digest how the European debt situation is going to shake out,” said Jason Pride, director […]

Boeing and the Myth of ‘Skills’

Back during the 1990s, I got tired of hearing a line that Bill Clinton relentlessly repeated about the need to “invest” in education to provide “the skills needed to compete in the 21st-century economy.” As nice as that rhetoric sounds, it didn’t match the economic reality: Major manufacturers weren’t opening new factories in Latin America […]

He’s Got His. Have You Got Yours?

A sad bit of bitter irony: While unemployment among the general population is about 9.1 percent, it’s at 16.2 percent African Americans, and a bit higher still for African American males. . . . [N]ow it’s at Depression-era levels. The most recent figures show African American joblessness at 16.2 percent. For black males, it’s at […]

The Dow Goes Greek

Since late April, the Dow Jones Industrial Average has lost more than 850 points and fell by 178.84 Wednesday, below the 12,000 threshold. Reuters reports: U.S. stocks tumbled on Wednesday, driven lower by escalating Greek debt woes, while troubling U.S. data pointed to further losses ahead. Financials came under fire after Moody’s Investors Service said […]

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