– “Kill yourself. Save us the paperwork” (Salon):
Pfc. Ryan Alderman, now deceased, sought medical help from the Army. He got a fistful of powerful drugs instead.
– Dutch MP refused entry to Britain (BBC News):
A Dutch MP who called the Koran a “fascist book” has been sent back to the Netherlands after attempting to defy a ban on entering the UK.
– US unemployment climbs to a 32-year high (Telegraph)
– Why Geithner’s bank bailout plan got a Bronx cheer (Money and Markets):
Problem #2: The “same old, same old” efforts:
These programs appear to be nothing more than expanded versions of efforts that have already had either limited success, or failed entirely.
Problem #3: Investors may finally be starting to face reality:
“This latest scheme to save the world will fail just like all the others. That is because nothing … NOTHING … can prevent a painful adjustment process.
– Former Assistant Secretary of the Treasury Paul Craig Roberts:
The Washington Morons – Driving Over the Cliff (CounterPunch)
– Eurozone slump worst in 50 years (Financial Times)
– France to call for hedge fund crackdown (Financial Times)
– Lloyds hit by £10bn HBOS losses (Financial Times):
Shares in the banking group fell 35 per cent after it warned that its newly acquired HBOS had suffered a worse-than-expected £10bn loss in 2008.
– US Auto-Parts Suppliers Seek $18.5 Billion in Aid (Bloomberg)
– Inflation: Brace yourself for higher food prices (Telegraph):
The Telegraph’s measure of “real” inflation, the Real Cost of Living Index, is at minus 3.4pc. But the era of cheap food could be over within a decade. (I say within 7 months.)
– Auto Workers’ 54-Year Safety-Net Pay May Be Scrapped in Talks (Bloomberg):
Feb. 13 (Bloomberg) — General Motors Corp. and Chrysler LLC, trying to keep $17.4 billion in U.S. aid, are asking the United Auto Workers union to end a 54-year-old benefit that ensures almost full pay during layoffs.
– Bernard Madoff could escape trial with guilty plea (Times Online):
The 70-year-old is currently under house arrest at his $7 million Manhattan penthouse apartment.
(What a horrible punishment!)
– Japan PM faces potential revolt (Financial Times)
– US envoy in Kabul to map out surge (Independent)
– PepsiCo defies global gloom (Financial Times):
(Soon people can only afford to drink tap water and then Pepsi will go down.)
– World in denial about trafficking, says UN (Independent)
– Energy experts to visit every home to help them go green (Telegraph)
– Millions ‘opt for DIY dentistry’ (BBC News)