Tiny Bahrain Poses Big Headache for the West

“The protesters had hoped that the roundabout surrounding the Pearl Monument would become Bahrain’s version of Tahrir Square in Cairo. But now the events there are more reminiscent of what happened in Tiananmen Square in Beijing in 1989. Within a few hours, what had been a tolerated forum for demonstrators seeking more democracy had turned into a monument of mourning, as the tiny country of 1.23 million became the latest combustion point in the Arab revolution. The situation in Bahrain clearly poses a potential threat to the region — and to the West’s oil supply.”

Madman Is Wanted to Fill Europe’s Job From Hell

“… you would have to be bordering on insanity to accept the role of European Central Bank president when Jean- Claude Trichet steps down in October this year. It’s the job from hell. The euro crisis is getting worse. You will be asked to achieve the impossible. You will have zero independence. And the chances are that you will wind up being remembered as the person who presided over one of the biggest monetary failures in history.”

Post Politics Federal, state and local debt hits post-WWII levels

“The daunting tower of national, state and local debt in the United States will reach a level this year unmatched just after World War II and already exceeds the size of the entire economy, according to government estimates… But any similarity between 1946 and now ends there. The U.S. debt levels tumbled in the years after World War II, but today they are still climbing and even deep cuts in spending won’t completely change that for several years. ”

Bank Closings Tilt Toward Poor Areas

“In 2010, for the first time in 15 years, more bank branches closed than opened across the United States. An analysis of government data shows, however, that even as banks shut branches in poorer areas, they continued to expand in wealthier ones, despite decades of government regulations requiring financial institutions to meet the credit needs of poor and middle-class neighborhoods.”