With the US markets closed, the real story in finance this morning is about how the Shanghai Stock Exchange tanked 7.7% overnight. That would be like the Dow dropping 1,350 points in a session.
So far (knock on wood) the decline has been limited to Shanghai, but the Chinese Hang Seng was down more than 1.5% as well.
Of course, when deflation is afoot and the end of financial life on the planet comes into view, there will be cheerleading stories around. We’d recommend skepticism.
European markets seem to be taking things in stride: Things were generally up when I looked earlier this morning and Japan was up 9-10th’s of a percent, too. So it’s not like the world’s coming to an end. Leastwise, not yet.
Healthcare Grabs and Bites
In case you didn’t play along and get healthcare insurance last year, the big bite some people are discovering is that 1% of household income is a bigger number than the $95-penalty crap that people were bandying about trying to get healthcare report enacted.
Politically Correct or Politically Stupid
German authorities have banned an anti-Islamist rally. Said it was a terrorism threat.
This is exactly how the jihad against the West is going…using our fuzzy-think and political correctness disease against us while events like those in France happen.
Is there an international school of apologists out there somewhere?
Bigger War Looms in Ukraine
How much longer will Russia wait? We read how the Kiev government has reclaimed key parts of Donetsk, but at some point, Russia is going to pounce.
Don’t worry if the lights go out…that’ll just be the EMP message to the West.
You Know It’s a Holiday When
- The Federal government gets a day off
- Parking is free – but only some places
- Arrests were made at the MLK march in Oakland
- State offices are closed
- No bills will show up fresh in today’s mail because there ain’t any
- The UrbanSurvival column is unusually short.
UPS & FedEx will still be out delivering today…fire, police, and emergency departments are still operating. I hope not to intrude on any of them.
Hold on till tomorrow morning… In lieu of writing much about sports and other holiday trivia, I think I’ll just toddle off to bed and make sure my pillow doesn’t move for the rest of the morning.