Fitch warns Greeks first year of fiscal austerity is easiest, gets harder next year, and harder still the following year

Stacy Summary:  Ooooooh boy.  And by the way, there is a downgrade warning in the article just for you @Mike/Liverpool.

Fitch warns UK and questions Greek rescue as sovereign risk grows

“The first year is fiscally the easiest. Next year they have to cut another 3pc of GDP, and the following year a further 3pc,” said Chris [...]

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Links 3/10/10

Researchers back cancer-fighting properties of papaya Associated Press
Sports Enhancement and Life Enhancement: Different Rules Apply h+ (hat tip reader David C)
Unionists make citizens’ arrest of insurance CEOs People’s World (hat tip reader John D)
Barney Eats Seconds – Or Blows Smoke – Or Both Bruce Krasting
Grayson Offers Medicare Buy-In Bill, Makes Impassioned Speech Huffington Post
Germany’s [...]

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The Empire Continues to Strike Back: Team Obama Propaganda Campaign Reaches Fever Pitch

I’ve seldom seen so much rubbish written by people who ought to know better in a single day. Many able people have heaped the scorn and incredulity on three articles, one a piece on Rahm Emanuel slotted to run in the Sunday New York Times Magazine, another an artfully packed laudatory piece on Timothy Geithner [...]

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China export rebound continues

Exports in February surge 45.7 on 2009, showing the fastest growth in three years.

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Guest Post: No One’s Issuing Credit—Why Are Auerback and Parenteau?

By John Ryskamp, an attorney and author of The Eminent Domain Revolt
Why, in their article on Latvia’s austerity budget, are Marshall Auerback and Robert Parenteau giving Latvia credit for warm, fuzzy feelings? Especially in the context of Draconian cuts? It’s because Auerback and Parenteau don’t know what they want—their emotions are not grounded [...]

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Are Capital Restrictions On Their Way to Becoming Respectable in Some Circles?

We’ve had (depending on when you define the starting point) at least two decades of a concerted push by the US towards more open capital markets (no doubt based not simply on the belief that the Anglo/Saxon model was superior, but also on the notion that US financial firms would come out on top). [...]

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Would A Soda Tax Be A Big Deal?

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By Jacob Goldstein

The recession has left some state and local governments desperate for new sources of money. That’s giving new energy to an idea public-health types have been pushing for a while now: taxing sodas and other drinks with added sugar.

New York’s governor has called for a penny-per-ounce tax on sugar-sweetened beverages, and Philly’s mayor wants one that’s twice that high.

Some public-health experts argue that taxes like these could slow the rise in obesity rates. The beverage industry has called it “a money grab, pure and simple,” and says it’s a “myth” that taxing one type of product will affect obesity rates.

For both sides, there’s a fundamental economic question here: How much would a tax drive down consumption?

Economists call this issue “price elasticity of demand” — how much demand goes down as price increases. Price elasticity of demand is different for different products.

A study published this week in the Archives of Internal Medicine used data from a 20-year study to estimate that a 10% increase in the price of soda would lead to a 7% decrease in the amount of soda calories people consume.

A recent paper in the American Journal of Public Health pooled results from 14 previous studies and concluded that for the broad category of “soft drinks,” a 10% increase in prices would lead to an 8% decrease in consumption.

Sodas, sports drinks and the like only cost a few cents per ounce. So a penny-per-ounce tax could lead to a price hike of about 20%.

Price elasticity isn’t totally linear — a price hike of 20% wouldn’t reduce demand by exactly twice as much as a hike of 10%. Still, those recent studies suggest that a penny-per-ounce tax could drive down consumption of sugary beverages by well over 10%.

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March 10, 2010

If the Queen and the Pope

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had rules to follow, these would be nice

1. Treat the Earth and all that dwell thereon with respect

2. Remain close to the Great Spirit

3. Show great respect for your fellow beings

4. Work together for the benefit of all Mankind

5. Give assistance and kindness wherever needed

6. Do what you know to be right

7. Look after the well-being of mind and body

8. Dedicate a share of your efforts to the greater good

9. Be truthful and honest at all times

10. Take full responsibility for your actions

March 10, 2010

[1112] The Truth About Markets NZ – 10 March 2010

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Stacy Summary:  The Truth About Squid . . .

For more download & listening options, visit Archive dot org

March 10, 2010

Greece is Safe ?

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Hi

just picked up on an interesting article on Bloomberg:

http://www.bloomberg.com/apps/news?p…IczFiqp4&pos=2

Any thoughts on this ?

M_S

March 10, 2010