Ok it’s not all bad news. Spanish bond yields, which you know I’ve been following, are actually way down from their Everestian highs from a couple of weeks ago. There is clearly more confidence in the bail-out and political plans out there than in my head.
But everything else is pretty much bad news, even excluding the tragic Marikana deaths and seemingly regular shootings in the US. (Incidentally, how relieved must Lonmin be that the tragedy has not yet been named “Lonmin Massacre”?)
- Europe heading for recession
- Citi ups estimated likelihood that Greece will leave from 50% to “50% to 75%” and now to 90%.
- IMF adjusts South African economic growth estimates downwards (and helpfully points out that unemployment is a big problem)
- Republicans get serious about a gold standard. Ok, some may not see this as bad news, but let’s just hoper we don’t get to find out.
I’m taking solace in the cricket Test victory and hoping the rest of the ODIs won’t be rained out. You gotta take the good news where you find it at the moment.