Unionized longshore workers in NY/NJ get paid an extra three hours for zero work. Unions can't help but rip off their employers and customers. This madness must end.
If cheap debt is driving private equity action, then any disturbance in the bond market (China *cough* China) will shut down all leveraged buyout action and possibly destroy Blackstone and Carlyle. Neither firm would hire me. I hope bond vigilantes wipe them out.
The PIIGS await slaughter. The G-20's agreement not to engage in mutual currency destruction is already null and void. Debt defaults will demand devaluation. Disband, G-20. Further agreements would be a joke and the ECB acknowledges as much.
Even Islamic bonds are in the yield basement, but they pay more than comparable Treasuries. Allah willing, Malaysia might finally be the great growth story I thought it would be when I visited there in 2001.
The Economist signals to American elites that Anglo opinion is souring on the U.S. as a growth story. Brits can still take austerity with a stiff upper lip. Americans will cry and riot.
