Italy citizens protests bankster government

Students in Italy's financial capital Milan threw firecrackers at police trying to prevent them approaching the Bocconi university, which is chaired by Monti and has become a symbol for the new executive of technocrats he has formed to tackle Italy's debt crisis.There were also protests in Turin, Rome, Palermo and Bari,There were also protests in Turin, Rome, Palermo and Bari, with demonstrators targeting universities where some of Monti's ministers used to teach, bank branches and tax offices. In Turin, clashes broke out between police and thousands of demonstrators including anarchists trying to approach the local headquarters of the Bank of Italy.

15,000,000,000,000 United States of America debt

Too sad for commentary, but here is some math:total US debt has increased by 41.5% , or $4.4 trillion, from $10,626,877,048,913 on January 20 [2009], to $15,033,607,255,920, under Obama as president.

WTI Oil hits $100

Italy 10-year bond yields rise back above 7%

Nov. 15, 2011, 6:43 a.m. EST The 7% level is seen as psychologically important, marking the point at which Portugal and Greece were effectively shut out of credit markets. The 10-year yield soared well above 7% last week amid political turmoil and a hike in margin requirements for bond traders before retreating. The yield on 10-year Spanish government bonds ES:10YR_ESP +0.18% rose 17 basis points to 6.25%, while France's 10-year yield FR:10YR_FRA +0.19% rose 15 basis points to 3.58% and Belgium's 10-year yield BE:10YR_BEL +0.19% rose 19 basis points to 4.79%

Reality about the future of energy

Political BS:

“We don’t have to wait on OPEC anymore. We don’t have to let them hold us hostage. America’s got the energy. Let’s have American energy independence.”- Rick Perry, CNN Debate, October 18

“We must become independent from foreign sources of oil. This will mean a combination of efforts related to conservation and efficiency measures, developing alternative sources of energy like biodiesel, ethanol, nuclear, and coal gasification, and finding more domestic sources of oil such as in ANWR or the Outer Continental Shelf (OCS).” – Mitt Romney

PRICE OF A BARREL OF BRENT OIL 2011 – $114.00

The alternative energy solutions are not big enough to replace our prodigious use of energy, and the talk about abundant United States domestic energy (affordable comparable with now) is complete bullshit.

California budget cuts as tax receipts way below projections; spending soars

California has fallen $1.5 billion behind in revenue

through the first four months of the fiscal year, state Controller John Chiang said Thursday, amplifying fears the state will impose deeper budget cuts this winter.

If the state falls between $1 billion and $2 billion short, the budget calls for cuts in higher education, social services and public safety. If the state falls more than $2 billion short, the state will cut K-12 schools and community colleges.

Doug Noland at Prudentbear:

I am of the view that inflationary policy doctrine (“inflationism”) is in the process of impairing the Creditworthiness of the financial claims that constitute the foundation of the global financial system. Massive issuance of non-productive debt and central bank monetization have irreparably distorted the global pricing of finance and the resulting allocation of financial and real resources. This backdrop has nurtured destructive speculative dynamics.