Should Germany bail out Club Med or leave the euro altogether? – Telegraph, Ambrose Evans-Pritchard
Germany faces a terrible dilemma. Either Europe’s paymaster agrees to underwrite a Greek bail-out and drops its vehement opposition to a de facto EU economic government, treasury, and debt union, or the euro will start to unravel, and with it Germany’s strategic investment in the post-war order.
The United Corporate States Of America – HuffPo
It’s a pretty frightening vision, one where every politician is completely bought and paid for by corporate interests. But it’s also frightening because it includes the end of any source of information — either from the Left or the Right — that challenges what the wholly corporate-owned political puppets throughout America do.
Five myths about America’s credit card debt – The Washington Post
I’m walking from my underwater mortgage – The New York Post
It is not an easy decision to walk away from your home, and in the beginning I actually felt like a loser. That was the hardest part.
Why Are Homeowners Idiots? – The Motley Fool
An interesting quirk of economics is that the dismal science generally assumes that all agents in an economy work in their own best interest. But this doesn’t always happen in real life.
Podcast: To Stay Or Walk Away – NPR
We hear from Mary Kinsley, a lawyer in Phoenix who works at a legal help-line for people with real estate questions. She says her unit gets around 100 calls a day, almost all from people asking about foreclosure.
Obama Sends Congress $3.8 Trillion Budget Plan Focused on Jobs – Bloomberg
Feb. 1 (Bloomberg) — President Barack Obama’s $3.8 trillion fiscal 2011 budget puts an emphasis on job creation with $100 billion in additional stimulus spending, along with higher taxes for the wealthy in an attempt to narrow the deficit.
The Places They Go When Banks Say No – The New York Times
His longtime bank wanted nothing to do with his company, Mr. Levy says, and several other banks spurned his loan requests, too. After a year of hand-wringing, he found an unconventional lender that was still making loans — lots of them.
Massive Layoffs Coming in NYC, Nevada, California, Colorado, Arizona, Everywhere – Mish
Cities, states, and municipalities are sinking by the minute. And unless unions agree to concessions (which they won’t) massive layoffs are coming everywhere you look. New York City is a prime example.
New Monopoly Board: Credit Cards Replace Money – HuffPo
The game’s anniversary edition, which features a circular board, eliminates cash altogether: instead of pastel-colored paper money, little real estate magnates will gobble up house and hotel pieces with credit cards.
