For those of you who have had your eye on the ball, unable to track the “financial crisis du jour” around the world, we appear to be finally reaching some sort of closure of the Ouzo Crisis, otherwise known as: “Who’s gonna bail out the Greeks?” This is the Baklava Bailout we’ve been waiting for for months. The Germans finally appear to be softening their stance, willing to toss a few Deutsche marks — er, I mean, Euros — in the pot.
It’s important to watch this stuff, because winding our way through these debt crises is crucial to recovery in the world economy. It’s like a version of economic dodge-ball: It’s possible we’ll have rolling debt crises over the next few years, and we need to work our way through them and hopefully avoid a debt crisis in the Big Kahuna — the U.S. of A. Because you know, after everybody else is bailed out, it’s not likely there will be anybody left to bail America out.
Anyway, on that positive note, let’s move on to da news:
- When there’s a Euro crisis, you need to brush up than Ambrose Evan- Pritchard (Telegraph).
- Google’s China plan gets complicated (Wall Street Journal). You would think “not being evil” would be pretty simple: Censorship or no censorship. Not when billions of dollars and the Chinese market is involved.
- Unemployment claims dropped for the third time in four weeks (MarketWatch). They’re at 442,000. Watch the number 400,000. I’ve heard that’s where we need to get to actually create employment .
- Banks still need free money, says Bernanke (Wall Street Journal). Even though they’re doing nothing but hoarding it and creating exotic carry trades. Meanwhile, rumor has it Ben has the helicopters idling on the tarmac with the crates of cash lined up.
- Best Buy profits rise 37% (Wall Street Journal). Recession be damned, we need our gadgets!!
- Qualcomm raises forecast, helps spark tech rally (MarketWatch).
- Engadget has an entertaining piece on the WSJ on the iPad, where they say the WSJ says it will charge $17.95 a month. (Engadget). Interesting. Did I tell you they offered me the print version for $10 per month (shhhhh.).
- Google’s working on ads that learn how to follow you. Kind of creepy, I don’t like the idea of being followed by an Ad.