As I looked at the photos from the G-8 conference, this caption became obvious. The German Chancellor is the belle of the ball as her Germany has what the World is crying for: surplus wealth in a debt-laden world. The pressure was on Chancellor Merkel to provide enough EUROS for short-term triage on the European nations hemorrhaging wealth from the huge amount of debt owed to many global creditors. As the communique revealed, there were few concrete proposals provided by the G-8 “brain trust” except that Germany “ought” to provide the financial backstop for all of Europe and, thus, the rest of the world. President Obama is well aware that any financial collapse in Europe will weigh heavily upon his reelection potential.
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The media frenzy around Facebook should be a lesson to all the CHEERLEADERS living a parasitic existence off the efforts to establish legitimacy to casino capitalism. Days prior to the FACEBOOK’S IPO, the financial media was racing against itself to lift the price of FACEBOOK on its first day of trading. Anything less than a 50% increase on day one would be a major disappointment. The fact that FB closed virtually unchanged from the offering price resulted in the entire stock market closing lower as the failure of FB to rise dramatically was deemed to be a statement about the overall lack of optimism on the part of investors. When the screen screamers and cheerleaders raise expectations in a rush to be the most inane, the failed expectations can lead to disappointment. Too much TOUTING and HYPE can make financial anchors long for the DOT-COM era.