The international economic slow down seems to be continuing as Eurozone member Spain apparently requires 65 billion euros to shore up their banking sector. Spain has stated they believe 100 billion euros should do the trick, but CNN Money Ben Rooney really hits the nail on the head here when he says, ” It is also unclear exactly where the money will come from.” I don’t know about everyone else, but I feel like I’ve been brainwashed over the past 5 years to basically believe any astronomical amount of money can just be created straight out of thin air, especially when it’s for the banking sector.
A shocking video of a New York state bus monitor named Karen Klein was released on youtube and proved two things. 1) Yes, kids really do go Lord of the Flies on the school bus and 2) the internet can coalesce people around a completely wacky theme. As of the writing of this post over $600k had been raised through a viral campaign to send her on a vacation. According to mashable she won’t even have to pay taxes on this money.
Gas prices have continued to drop to an average below $80 a barrel due to a continued slow down in demand. Foreign Policy online did a solid piece on the effects of the coming oil crash on international autocrats, and Vladimir Putin in particular. The article also gives some good perspective on Saudi Arabia’s long economic plan and answers the question of why they would continue to pump so much oil and contribute to the falling price of petrol. Speaking of Saudi Arabia, the death of Crown Prince Naif bin Abdul Aziz brings to light many questions of succession in the Kingdom that will be interesting to watch as the original sons of Saudi founder Abdul-Aziz bin Saud are all getting really old.
U.S. Attorney General Eric Holder was held in contempt of Congress this week for essentially refusing to share documents pertaining to the ATF program called “Fast and Furious.” Reuters gives a good explanation here of exactly what Contempt of Congress really means. Being held in Contempt of Congress seems slightly ironic when Congress is in fact held in contempt by the American people, due to its inability to come to a resolution pretty much anything. As a side note I feel the media needs to stop asking the question if a decision made in a Presidential election year was made “for political reasons” or because it was the right thing to do. The answer is always “both.” For instance, the Republicans’ shameful smear job on Brett McGurk and the President’s decision to use a new legal framework to essentially give amnesty (though Dems have tried to say it isn’t Amnesty) to 800,000 illegal immigrants are both prime examples. Everything until the election will have some level of political motivation.
Looks like fellow polife writer Joey got his wish this week as Lebron James won his first NBA title. Though I too was pulling for Lebron I have to say I’m most pleased about what the NBA Finals meant for ESPN First Take and Skip Bayless. Mark Cuban and Skip went back and forth on Twitter about the NBA Finals and Mr. Cuban decided to fly out to Miami to crush Skip’s soul. Mark calls Skip out for his massive generalizing, his egocentric outlook on sports, and his utter lack of basketball knowledge. It’s the worst public thrashing since the Nixon vs. Kennedy debates of 1960, and when Mark asks Skip questions about basketball that he has no idea how to respond to, it’s more awkward than The Office and twice as entertaining.
By: The POLife Staff (yeah, we call ourselves a “staff”)
In a big weekend for sports, Horse-Racing-Triple-Crown hopeful I’ll Have Another was a late scratch from the ol’ racing card when the colt, in an intensely introspective and shockingly self-aware moment, decided that a life of oats and margaritas was preferable to the cruel grind of life on the rail and said, “eff this noise – I’m retiring.” Immediately after the announcement, millions of fake Horse Racing fans asked Siri to change “Belmont Stakes” in their iPhone calendars to “dear God, anything else.”*
*In reality, like 8 million people still watched it. Your guess is as good as mine.
How exactly does it feel to have so much money that you aren’t even sure if you have $190 million or $250 million? Apparently pretty damn good. Romney’s Presidential hopes are directly tied to his portrayal of Obama as a poor curator of the American economy, something that was bolstered by the fact that job growth was anemic last month. It’s perverse that Republican strategists probably cheer every time a person files for unemployment or a home is foreclosed.
Mohammed Hosni Mubarak was sentenced to life in prison. This wasn’t enough for thousands of protestors who were furious that he was not given the death penalty. People protesting in mass that you should not be allowed to live is further proof that nobody likes a dictator, no matter how cool of shades he’s always wearing. Fellow dictator and most likely the only person in the Mid East more hated than Mubarak, President Assad, took a break from writing love letters, to assure the sympathetic world that he was in fact doing his people a favor by massacring them. He stated that, “not even monsters'” would carry out Syria Houla massacre, but then followed it up with Dexteresque explanations like this, “When a surgeon in an operating room … cuts and cleans and amputates, and the wound bleeds, do we say to him, ‘Your hands are stained with blood?’ Or do we thank him for saving the patient?” Bashar, quick note about trying not to look like a monster, try not to compare killing civilians to doing life saving surgery… Just saying.
The British held their Diamond Jubilee party. Which proved that the word flotilla is still in use ( who knew?) and that Queen Elizabeth will literally live forever because she is possessed by the devil. Oh, and Pipa remains the hotter of the Middleton sisters.
I’ve said it before, I’ll say it again… Flesh eating bacteria is real WTF?
Facebook continued to dominate the news this week as it turned out a company with $1 billion in profits in 2011 was worth 100x that. Zuckerberg kicked trading off from Silicon Valley surrounded by thousands of other nerds who worship him, rather than on the floor of the NASDAQ surrounded by investment bankers who not so secretly hate him. The stock ended its first day of trading near it’s initial selling price, much to the chagrin of institutional investors who had hoped to use their advantageous position to make a quick profit off individual investors (read suckers) caught up in facebook mania. The stock ended up 23 cents over its initial offering price causing some to say that facebook’s IPO was a huge flop. A day later Zuckerberg surprised guests, who thought they were attending a post IPO party, by marrying his long time girlfriend in a simple ceremony. His new wife Priscilla was reported to have asked why Mark couldn’t even wear a tuxedo to his own wedding the day after he became worth $18 billion. Eduardo Saverin had planned to attend until he was politely asked by America never to return.
In case you spent last week at the bottom of the Mariana trench, VP Biden essentially forced President Obama to come out of his supporting gay marriage closet. Apparently the President’s views have been evolving on this issue for the past couple years, but it seems more likely this was a decision he wanted to postpone till after his presumptive re-election. Much like past statements to Medvedev about missile defense, this falls under the category of, “After My Election I Have More Flexibility.”Nonetheless, the Pres has run with it and good on him! Unfortunately when the question is taken to the ballot this is usually the outcome. People didn’t like integration back in the 60’s either but that doesn’t mean they aren’t ashamed of opposing it now… or at least should be.