so it’s been a month since I’ve updated my blog and some of you might be asking why. Unlike last time, there is only good news for what has prevented me from updating now. In the past month I’ve moved, started an internship at an unspecified Senators office, and in four days I will be flying to Sydney where I will stay for a month (with my wonderful girlfriend). I couldn’t be more excited/distracted by all of this and sadly it has prevented me from drafting any new ideas for a blog post, despite all of the big news around the world.
for an update on the state of the world I present you with the following:
- The US economy’s growth has tapered off dramatically in recent months and it now looks likely that the Fed will institute additional measures in the future to increase demand (while agreeing to extend Operation Twist immediately). For more on the Fed’s FOMC meeting read here.
- Spain has taken a bailout package designed to capitalize its banking sector worth 100bn euros. The money will come in the form of sovereign loans with favorable conditions, but because the money isn’t being directly injected into the banks it will cause Spain’s sovereign debt to increase. This has had a negative impact on Spain’s borrowing costs. For more on the good and the bad of this bailout you really ought to read this excellent blog post.
- Greece elected a pro-bailout/pro-EU set of parties and it now looks like they will be able to form a coalition government that supports staying in the single currency.
- Egypt’s military leadership (Scaf) has dissolved parliament and delayed results for the presidential election that just took place. Some have speculated that the elections will be canceled and the military won’t give up power.
That’s all for now, I probably won’t update this while I’m in Australia but feel free to give suggestions for what my next blog should be about.