Winston Churchill Liveblogs World War II: May 7, 1940
Market Failure!

links for 2010-05-07

  • BE: "First, the IMF and the European Commission can encourage Greece to reach a social consensus on restructuring and reform by showing that the creditors will also contribute.... Second, Portugal and Spain must do more to convince the markets they are not Greece.... Third, to give the Iberians time, the ECB will have to support their bond markets.... Fourth and finally, the Germans need to support European growth by spending more."
  • AD: "The Congressional Budget Office issued a briefing paper yesterday concluding that climate pricing will slightly reduce employment overall in the United States, because green jobs gains won’t quite offset other job losses. Unfortunately, this paper will likely be misquoted and misunderstood repeatedly. It’s not what it seems. Properly understood, it should give us confidence that the clean-energy path is our best option by far for a high-employment future. Too bad CBO didn’t just say that. You could read the summary and never guess."