Friday, June 12, 2009

Friday Afternoon

Talk about bold. Government versus citizens in Texas. Incredible:
"If you don’t understand the uproar in Friendswood about the city’s plan to issue $11 million in debt without voter approval, just ask yourself a couple of questions: What if city leaders are completely right about the legal question? Is it still a good idea to borrow money without asking voters for their approval? Is a good idea to obligate them when they have clearly indicated they want a say about any debt they’d be responsible for?"

Salvation by way of demolition?
"Dozens of US cities may have entire neighbourhoods bulldozed as part of drastic "shrink to survive" proposals being considered by the Obama administration to tackle economic decline."

Stupidest thing I've seen in a while -> FT Alphaville says the S&P500 is trading at a PE ratio of 130:

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