Archive for 2012

EUROPE: EU “Fab Four” Meet and Fail in Rome.

The euro is significantly closer to failure and Europe is closer to a meltdown after the leaders of the four biggest eurozone leaders met in Rome and made no progress whatever. The “Fab Four” (Spain’s Mariano Rajoy, France’s Francois Hollande, Germany’s Angela Merkel and Italy’s Mario Monti) reaffirmed a pre-existing agreement to make some mostly symbolic adjustments to European policy, whomping up an air souffle that the Club Med countries plus France can claim is a “growth” package, but it is mostly made of old money and spin.

Other than that, they seem to have just wasted time repeating the stale old things they have been saying to one another for more than two years. The Latin caucus told Germany how very nice it would be if Germany would pay more money to reduce their borrowing costs and Germany thanked the Latins for the advice but declined to share its ATM card and PIN with its hungry friends.

In other words, nothing.

America currently has the worst political class in its history. But if Europe doesn’t, it’s only because of how very bad it’s been in the past. . . .

WORKING YOUR WAY THROUGH COLLEGE HAS GOTTEN A LOT HARDER:

We might have reached a natural limit for how many students can realistically find work while in school, at least until the economy rebounds. The two graphs below are adapted from Department of Education data* on student employment covering selected years from 1970 through 2010. They illustrate a point that’s both obvious and easy to overlook: In a bad job market, it’s a lot tougher for an undergraduate land employment.

And, of course, tuition keeps climbing at a rate that vastly exceeds wage growth. This phenomenon calls for more attention.

ERIC HOLDER UPDATE: House Republicans release final Holder contempt resolution. “Republicans late Friday released the final version of the resolution asserting that Attorney General Eric Holder is in contempt of Congress for refusing to hand over documents related to the Fast and Furious gun-walking operation.”

ANOTHER BAD DAY FOR OBAMA: “It was a quirky day on the road for President Obama. He headed to Florida for a couple of events: a speech to a Latino group in Lake Buena Vista outside Orlando, then a campaign rally in Tampa. But at the first event, the Secret Service made hundreds of guests give up their forks and knives before the president entered the room. Then in Tampa, the normally sure-footed president tripped as he bounded onto a stage.” If a Secret Service agent hassles you, hand him $47 and a condom and tell him to go have a good time. . . .

NEWS YOU CAN USE: 6 Rules for Sex on a Plane. But the winner is from the comments: “Personally I’m happy to just get on the plane without feeling like I’ve been molested.”

PUNCHING BACK TWICE AS HARD: “Aaron Walker filed suit against Brett Kimberlin in federal district court in Maryland today. The counts alleged in the suit include defamation, harassment and invasion of privacy, tortious interference with contract, federal extortion, intentional infliction of emotional distress, interference with business expectations, and federal stalking. Additionally, Walker’s attorney (Bruce Godfrey) filed an emergency motion for preliminary injunctive release asking that enforcement of a state peace order against Walker be enjoined. In addition to asking for a permanent bar of enforcement of the peace order, the complaint against Kimberlin seeks $1 million in compensatory damages and $1 million in punitive damages.” Copy of the complaint at the link.