Woofer

Moody's Bottom Rung: Companies at Risk for Default

CLWR is Clearwire, not Clear Channel. Which do you mean?

Who Will Win the Economic Battle for Ukraine?

It's good to see Ukraine getting the attention that its strategic position warrants. But the article vastly oversimplifies the political situation. Describing Tymoschenko as "very much pro-Russia" is simply false. With presidential elections coming up, three major figures are jockeying for position: Tymoschenko, Yuschenko and Viktor Yanukovitch, the former president whom Yuschenko defeated and who heads up the Party of the Regions.

It is Yanukovich who is "very much pro-Russia". Tymoschenko and Yuschenko were in fact allies during the Orange Revolution but their personal ambitions have now made them rivals. Tymoschenko is currently trying to position herself between Yuschenko and Yanukovitch as a centrist with the pragmatic ability to work with both the Eastern and Western camps. Although there is an element of opportunism to her position, there is an essential logic as well. Ukraine's survival depends on maintaining at least a working relationship with Russia, and the Russian-speaking Eastern Ukrainians woulds never accept a 100% pro-Western policy.

With Yuschenko as president and Tymoschenko as prime minister, the current Ukrainian economic collapse is exacerbated by their standoff because it results in political paralysis at a moment of crisis. Stalemate wasn't such a bad thing when the economy was doing well, but now it's a tragedy. And it reinforces Ukrainian cynicism about the capacity of a democratic government to manage public affairs.

By the way, a good English-language source of current news about Ukraine is the Kyiv Post online edition.

Simuflation: The Powder in the Market's Keg

I assume simuflation is the direct opposite of stagtaneous, which results from the tendency of interest rates to dangle precipitously from the credit ceiling. In other words: an ineluctable paradigm of derivative regurgitation. The technical indicators thus support a continuing inverse episode of shorting.

Economic Drubbing Should Subside - Temporarily

Thanks, Deacon, for the reassuring words. I, for one, am happy to learn that there is a conspiracy behind this mess. That at least suggests some element of intelligence -- even if malign. My worst fear is that the American plight is simply the result of blind greed and arrogance run amok. So it's good to know that somebody is running the store. But I still can't figure out whether Mitt Romney is the Antichrist. Any thoughts on that?

In Defense of Northrup-Grumman's USAF Contract Win

As a Seattle resident and long-time Boeing fan, I applaud the AF decision. If you are going to have a bidding process, it needs to be fair. From all indications the EADS-Northrop product meets the requirements best. It is political silly season and the whine is flowing freely.

Election Day Gridlock Alert: What a Split Congress Means For the Market

'Creative tension' is a polite way to say that a division of power imposes a check on one set of thiefs running amok. It's a defensive concept.