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Generational Dynamics Web Log for 28-Jan-2010
28-Jan-10 News - US military in Yemen, investors bet against Greece

Web Log - January, 2010

28-Jan-10 News - US military in Yemen, investors bet against Greece

Portugal, Italy and Spain aren't far behind.

US military 'deeply involved' in Yemen, as leaders meet in London

U.S. military teams and intelligence agencies are deeply involved in secret joint operations with Yemeni troops, according to reporting by The Washington Post. The American advisors do not take part in raids, but provide intelligence and weapons, as well as missile strikes from drones. Dozens of people have been killed in the past six weeks, including six of the 15 top regional al-Qaeda leaders, according to the US.

Recent US military operations in Yemen <font size=-2>(Source: Washington Post)</font>

Recent US military operations in Yemen (Source: Washington Post)

The American military intervention is supported by the Yemen government but is kept secret because it's deeply disliked by the Yemeni people.

All of this is occurring in the context of a conference being held in London, attended by foreign ministers from the US, Britain, Saudi Arabia and 20 other countries. The purpose of the conference: What do we do about Yemen?

According to The Guardian, there is widespread alarm that al-Qaeda is finding safe havens in the country's "ungoverned spaces" – tribal areas beyond the reach of the Yemen's government. However, the ministers in London are pledging not to interfere in Yemen's internal affairs.

LOL.

Investors increasingly expect EU country defaults, led by Greece

Credit default swaps on Greece's debt jumped to record levels, according to Bloomberg. Rising credit default swaps on any form of debt means that investors believe that that form of debt is more likely to default.

As we mentioned yesterday, Greece's bond sale earlier this week required Greece to pay exceptionally high interest rates. Investors presumably were reacting to the possibility that the country is in a spiral of increasing debt from which it can't escape.

Rumors spread on Wednesday that China was going to help Greece out by buying $35 billion in Greek bonds, in a deal being put together by Goldman Sachs. However, Reuters reports that both Goldman and Greece denied the rumors.

<font size=-2>(Source: Daily Mail)</font>

(Source: Daily Mail)

The Bloomberg story says that Greece isn't the only European country in trouble, as credit default swaps have also risen substantially on debt from Spain, Portugal and Italy.

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Ohio is spending $1 million in stimulus money to put up signs that brag that Ohio is spending stimulus money, according to CNN. The signs cost as much as $3,000 apiece.

Employer told not to post advert for 'reliable' workers because it discriminates against 'unreliable' applicants, according to The Daily Mail.

(Comments: For reader comments, questions and discussion, see the 28-Jan-10 News - US military in Yemen, investors bet against Greece thread of the Generational Dynamics forum. Comments may be posted anonymously.) (28-Jan-2010) Permanent Link
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Generational Dynamics Web Log for 28-Jan-2010 28-Jan-10 News - US military in Yemen, investors bet against Greece

US military 'deeply involved' in Yemen, as leaders meet in London

Investors increasingly expect EU country defaults, led by Greece

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Generational Dynamics Web Log for 28-Jan-2010
28-Jan-10 News - US military in Yemen, investors bet against Greece