SODOM & GOMORRAH: The Chinese economy has experienced double digit growth for a long time. Now that things are slowing, authorities worry that the general public will become restless as things aren't moving as fast as promised. Across China, a number of protests have been taking place that signal a growing unrest in the country.
SODOM & GOMORRAH: Spain, Italy, Belgium, Slovenia, and Cyprus were downgraded by Fitch Ratings. The agency claims that the Eurozone countries lack the appropriate financial flexibility to deal with the regional debt crisis. Surprise.
SODOM & GOMORRAH: A special report in this week's Economist on state-owned enterprises in emerging markets validates one of my theories - classical, small-state liberalism eventually morphs into the modern, welfare-state governments that we see today. The moral is that any time material interests dominate the political, the former will eventually use tools of coercion to force out rivals.
SODOM & GOMORRAH: Oil prices rose to close to $100 per barrel and natural gas prices jumped 7% as Iran reiterated its threat to block shipments of crude oil from the Persian Gulf. Iran claims it will go ahead with the blockade if the West follows through on its threat to embargo the country.
SODOM & GOMORRAH: The European Union continues to struggle to cope with the massive financial blackhole that is Greece. In short, default is both inevitable and the only real solution.
SODOM & GOMORRAH: Yesterday, Russian Foreign Minister Sergey V. Lavrov warned that western support for the Arab Spring could lead to "a very big war that will cause suffering not only to countries in the region, but also to states far beyond its boundaries."
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