As I watch a little CNBC this morning I really hope that good old Warren Buffet lives forever, because if I had to listen to Charlie Munger, Joe Lieberman on Qualudes, I would lose it.
Europe is experiencing some seroious unrest over the economy, specifically unemployment. This is from RGE Monitor:
- May 1: May Day protesters clashed with riot police in Turkey, Greece and Germany while French unions led their biggest ever Labor Day demonstrations amid growing public anger in Europe at unemployment and the handling of global economic crisis (Guardian)
- Unemployment is on the rise across the continent. The European Commission expects an unemployment rate of 8.75% in the EU27 and 9.25% in the eurozone in 2009. In the Euro area, the unemployment rate was 8.5% in February 2009, 1.3% higher than a year earlier (OECD)
- Labor unions in the EU are scandalized that the governments are handing money to banks when workers’ pay is stagnant. Moreover, bailing out banks could mean drawing funds from social welfare programs (Euractiv)
There will be plenty of earnings to keep us busy this week so watch your positions and be aware. Will they sell in May or stay and play? Stay tuned.