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Archive for December 4th, 2008

More Bad News

The European Central Bank just cut the “leitzins” interest rate by three-quarters of a percent to 2.5 percent.  This is equivalent to the rate of interest the Federal Reserve plays with in America to try and control the economy. The Bank of England, the Swedish Riksbank (and for sure others soon to follow) are also dropping interest rates.   This drastic reduction is going to have an impact on US stock markets today.  I don’t expect it will be good.

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Lame Duckling

India and Pakistan have three things in common – a border, nuclear weapons, and not a lot of love for each other.  This can be a bad combination.  Terrorists have taken advantage of India’s inability to defend against an attack and hit two targets at once.  India with it’s Muslim minority, and the West by hitting the regions largest financial center.  During the transistion between the Bush lame duck administration and the inexperienced Obama one, the only thing we can do is send in Rice and see what happens.  I believe timing was as much a strategic consideration as targeting.  And I believe we continue to underestimate the the seriousness of this situation.

rice_india500U.S. Secretary of State Condoleezza Rice urged Pakistan on Wednesday to cooperate with India’s investigations into the Mumbai attacks that have sorely tested relations between the two neighbors.

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Hatter ²

Originally uploaded by Breslow

I don’t know if this qualifies as “art” but I do like the effect.

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