Apple adds the Beatles to the iTunes catalog.
Will and Kate are getting married! Watch their first interview here. Will you be at the wedding?
In other news:
Ted Koppel strikes out at Olbermann, O'Reilly, and the death of real news. View Olbermann's response here.
Plus, MSNBC suspends Joe Scarborough, proving that they are not only more nonpartisan but also even more stupid than we all thought. C'mon guys..... Haven't we had enough of this?
Economically speaking:
WIRED Magazine shows how the global economy was networked for failure. Sounds roughly similar to one of former Secretary of the Treasury Robert Rubin's conclusions from the Mexican financial crisis, Asian financial crisis, and the tech bubble.
The FT's Lex thinks Californians are dreaming.
Quantitative Easing takes the stage for an encore:
Nouriel Roubini says it's not inflationary. The conservative folks at E21 (including Cliff Asness, James Chanos, Niall Ferguson, Claremont McKenna's Greg Hess, and William Kristol) tell Ben Bernanke why it's bad.
YouTube tells us what it is: http://www.youtube.com/watch?v=PTUY16CkS-k
(if you click on only one link from this post, this is the one to choose)
The New York Fed's Bill Dudley says it's not intended to weaken the dollar.
Bernanke supports Obama and criticizes China.
The Economist blogs: Does monetary protectionism lead to trade protectionism? And Nick Kristof asks asks if we’re in a Banana Republic or a Hedge Fund Republic.
Budgeting Away
Fareed Zakaria says it's time for the US to face up to the deficit. Joe Klein says we're ignoring everything else.
The Economist lays out the budget mess and tells the newly elected government how to "Confront the Monster." Which brings us to...
...The New Freshman Class of the 112th Congress...
...who arrived this week in DC to learn how to be Congresspeople. And finally saw firsthand the lack of professionalism and general poor form of the Tea Party Patriots, who inundated certain members' new Blackberries with a flood of voicemails.
I'm sure they all paid attention close attention to their ethics classes as Charles Rangel was formally censured.
And don't forget: Lisa Murkowski (did I spell it right?) won her write-in campaign in Alaska.
Who's the coolest new member? Could be ex-reality-TV-star and new Wisconsin representative Sean Duffy, who even got to take a front-line role in the crackdown on earmarks, as did Obama, McConnell, and hopefully the rest of our government. (Perhaps this item should have been in the overdue news stories at the top of the post.)
What else happened this week?
Everyone bitched about airport security. Roger Ailes bitched about everything else, particularly Obama's failures, NPR's "Nazis", and Jon Stewart's craziness.
Looking forward to 2012 yet?
Sarah Palin is. Take a look at the team hoping to put her in front of the GOP pack for 2012. Or take a look at the GQ profile of her Democratic counterpart in 2008, Joe Biden.Could it be Bloomberg/Scarborough in 2012? Wouldn't that be fun? However there's still no Bloomberg or Scarborough for Prez contract on inTrade. While they'd probably opt for the Independent ticket, tn the race to be the GOP nominee, both are trading at just about zero.
Fancy taking a punt? The contract on whether or not Bloomberg will announce trades at an unimaginably wide spread, implying anywhere froma 10 - 85% chance of him doing so.
Other contracts for 2012:
Romney's down from 24.8 last week to 22.6 this week.
Dems have a 56% implied probability of holding the Presidency.
Trump for President 2012? Please, God, no! Thankfully it's not really trading and only implies a tiiiiiny probability for the "The Donald."
In Europe
The big story was the potential Irish bailout. To bail, or not to bail, that is the question? Whether 'tis nobler....
The trusted folks at the Economist show how they got into this mess and provide their opinion on how to get out while saving the euro.
Shameless plug of the week
Take a quick gander at the current state of the European property market, in an article by my former flatmate Steve.
And finally something that does some good in this world.....Microfinance
The question of the week: is microfinance in India becoming like the subprime market in the US?
And should there be a cap on the interest rates microlenders charge?
Looking forward to the next week?
Thanksgiving in the US means lots of food for everyone. And are you ready for some football? New England at Detroit at 12:30 ET, New Orleans at Dallas at 4:15 ET, and Cincinnati at NY Jets at 8:20 ET.
Go to bed early or stay up all night so you can be the first one at the store on Black Friday.
See you next week,
Chris
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