"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Thursday, March 24, 2011

What's Happening In The World?

  • The PIIGS are back! Portuguese Prime Minister Jose Socrates resigned yesterday after parliament rejected his government's latest austerity measures. This may very well pave the way for Portugal to go to the EU and the IMF for a bailout, particularly since they will need to refinance some 4.5 billion euros of sovereign debt next month.
[1] Meaning the coolant system is at atmospheric pressure and at a temperature below 200 degrees Fahrenheit.
[2] And by "UN", read "US". In the last 24 hours there have been 175 air strikes, and the US has flown 113 of them.

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