Number of abortions per year: 1.37 Million (1996) [1] 
Number of abortions per day: Approximately 3,700 [1]
Total number killed in 911 attacks: 2,819 [2]
[1]http://www.abortionno.org/Resources/fastfacts.html 
[2]http://nymag.com/news/articles/wtc/1year/numbers.htm

The main issue with the debt financing guarantees for Greece Portugal and Ireland is that there will not be enough money to purchase bonds of other European countries in crisis. Unfortunately for Spain and Italy, borrowing costs are going to be much more expensive. Both countries are paying close to 6% for 10 year money.

Compounding this is a clause in the Euro Zone’s rescue fund that makes it vulnerable to a domino chain. The rules state that countries that need financing must step out. In other words they will no longer need to provide guarantees to the EFSF. The result is once several countries are at crisis levels, only four euros own members will be backing up the EFSF. The debt burden on these members will be unsustainable. This is a critical situation because financial markets are not going to wait until countries are downgraded. They will assess the risk and act accordingly.

The weakest link in the chain of falling dominoes are banks. Banks hold much of the euro zone government debt, and here’s the kicker, banks are global. Which means that investors and taxpayers in the United States are affected by this crisis. Banks that hold euro zone debt are going to be dumped by investors. This is why we see banks like Bank of America and Citi losing so much market share in the last few weeks. Because of this, these banks will face a higher cost of capital which makes them more vulnerable. One need remember that the crash of Lehman Brothers brought on the recent Great Recession. Another question to consider is whether or not the US government will bail these banks out. Will there be enough support from the public or the government? What are the repercussions of not feeling these things out? If the taxpayers in the government take the high road and refused to bail these banks out, will we be headed for a Great Depression? Because the euro zone relies on the financing of these banks, while Europe fall into a depression as well?

The sovereign debt of European nations should be a concern of all Americans. Of course most Americans are concerned with America’s great deficit, and rightly so, but the debt crisis in Europe is linked to our economy as well. Many of America’s corporations are dependent on sales in Europe. Because of this, American jobs as well as American investment in these corporations are a great risk.

What should be done? America’s Federal Reserve has in its toolkit the ability to print money. Because interest rates have already been lowered to next to 0%, this may be the only course of action left. Because of this, Americans should expect to experience a dramatic increase in prices; inflation in the highest order. I believe that Americans should do everything they can to pay down their own personal debts. They should also do anything they can so that they are living within their means in the future. No one can say how deep this crisis will go or how it will affect most Americans, but we know better than to be in denial.

Jobs will be lost, industries will collapse, inflation will rise, and the standard of living for most Americans will be greatly diminished.

To prepare for this, I believe we must all leverage what we have now. Save what you can, pay down what you can, and get your house in order.

Facebook worth a trillion?

New tech bubble

Portugal’s “junk” debt rating

• When are drone attacks ethical?
• When deployed are they an act of war?
• Can America AFFORD to engage in multiple wars/conflicts (now six)?
• Is it fair to increase taxes and cut entitlements in America when so many billions are spent on these wars?
• Do Americans agree with the war spending priority when our infrastructure is crumbling? When so many are homeless and jobless?
• Should the POTUS have the authority to start these conflicts without Congressional approval? Without public debate?

I feel that U2 are hypocritical. They should pay their proper taxes in their own country. Social welfare programs depend on tax revenue.  I predict that U2 moves their base back to Ireland because this is a very big customer relations nightmare. Either that or the group will start some kind of foundation in Ireland that directly helps Ireland’s poor. Bono’s do-good image is fading fast. Maybe he can call Al Gore for advice?

…rock groups have corporate bases now?