Michael Hudson and Max Keiser - Beggars Without Borders - Is the EU the New AIG?

The more I examine the financial, political, and economic structure of the European Union, the less sustainable and sensible it appears.

Having a common currency without allowing for transfer payments to make up for the lack of a flexible currency exchange is almost incredible considering the diversity of the region.

And when one adds the fact that each country is expected to issue its own bonds, in euros, with its own interest rates, and it becomes more like some doomed mutant, a kluge created by a committee, than a viable entity with a well thought out, robust structure.

Is the EU the new AIG?    What were they thinking?   The financiers are going to devour the best parts and then pick its bones.

Europe as it is currently constituted cannot last.   It may go on for some years as an artificial construct, but it has a relatively short half life.   It requires major surgery.

Gold Daily and Silver Weekly Charts - Winding Winding...

There is little doubt that gold and silver are being 'capped' here.  

The question is which way they will break out and up, or down, as the winding tension in the market becomes unsustainable.

SP 500 and NDX Futures Daily Charts - All Eyes On AAPL

All eyes are on AAPL which reports earnings and revenues at 4:30 PM.

Tomorrow afternoon is the FOMC rate decision, and on Friday the advance GDP number from Q1.

US Leads Developed Nations In Percent of People In 'Low Wage Work'

This could be a good question on a quiz.

With regard to Victorian England I have seen estimates that show that almost 20 percent of workers were 'in service,' that is, were employed as domestic servants.

I see where they are already bringing back debtor prisons in the States.

And Australia and New Zealand are falling behind it appears.   Some stubborn fascination with equality no doubt, insufficient elitism.  

Research shows the US is a low wage country
By Mark Thoma
April 23, 2012

(MoneyWatch) - Recent research from John Schmitt of the Center for Economic Policy Research shows that the US leads developed countries in the share of workers earning low wages. The research also shows that increased wage polarization over the last several decades is one of the reasons for the large share of low wage-work in the US. The bars in this graph represent the share of workers in low wage work, where low wage work is defined as employees earning less than 2/3 of the median wage (approximately $10 per hour or $20,000 per year). In this category, the US leads among developed nations...

Research Shows that US is a 'low wage' country - Mark Thoma