Spanish Prime Minister Mariano Rajoy has a singular problem: 84% of all voters have “little” or “no” confidence in him. The fate of Alfredo Perez Rubalcaba, leader of the opposition Socialist party, is even worse: 90% of all voters distrust him! Those are the two top political figures of the two major political parties, and the utterly frustrated and disillusioned Spaniards are defenestrating them both.
Read more...Last year, the New York Times’ Nicholas Kristof highlighted a fundamental inconsistency in the increasingly heated discussion about public education in America. In other walks of life, no one would challenge the notion that you get what you pay for. Kristof pointed out that it only made sense that if you wanted better educational outcomes in the US, you need to pay teachers more. But the public wants a pony: higher quality education while demonizing teachers and cutting their pay.
Read more...Philip Pilkington is an Irish writer and journalist living in London. You can follow him on Twitter @pilkingtonphil
Whose owl-eyes in the scraggly wood
Scared mothers to miscarry,
Drove the dogs to cringe and whine
And turned the farmboy’s temper wolfish,
The housewife’s, desultory.
– Sylvia Plath, ‘The Death of Myth-Making’
Read more...Yves here. I’m featuring a MacroBusiness post, “What If the GFC is Permanent?” despite its being a bit meandering, because it asks some Big Questions, and therefore will give readers something to chew over.
Read more...The Grey Lady tonight, in true “newspaper of record” fashion, has an article that manages to acknowledge some of the effects of ocean acidification, and its links to global warming, while sidestepping how grim the implications are.
Read more...In light of the reader interest in the post yesterday on the impact of sanctions on Iran’s strategic options, this Real News Network interview provides a useful, if sobering, follow on.
Read more...A New York Times profile of Ina Drew, the former head of the JP Morgan Chief Investment Office, almost certainly produced high fives in the bank’s corporate communications office. This piece is the best sort of PR you can get: it treats the trading losses as yesterday’s news, of interest only as point of entre into the downfall of a heretofore unknown but once hugely successful and personally appealing trading manager.
Read more...By Randy Wray, Professor of Economics at the University of Missouri-Kansas City and Senior Scholar at the Levy Economics Institute of Bard College, New York. Cross posted from Economonitor
OK, I know you think this is yet another critical column on Chairman Ben Bernanke.
Read more...Military strategists appear to have missed a foreseeable outcome in their efforts to pressure Iran.
Read more...During the Microsoft antitrust case, some institutional investors were keen for Microsoft to lose, and not because they were short its stock. They felt that Microsoft being in both the operating systems business and the applications business had become a negative. They believed that separating the two businesses would not only produce higher multiples over time for each as “purer” plays, but having each new business more narrowly focused would be better for growth in the long term.
We have a similar discussion taking place regarding the big banks, and the pro-breakup case is even stronger there than for the software giant.
Read more...Just because the banks are on one side of an issue does not always mean they are wrong, just that they might be right for the wrong reason.
Read more...Yes, dear readers, we know the site is not performing well for some of you. I’m hoping you will bear this with some patience once I give you the background.
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