The Elysee Palace sold off a tenth of its wine collection in a Presidential garage sale. Selling presidential wine in a nation that loves its wine might chip away at awful approval ratings, but it speaks more to the stupidity of goals that include squeezing the inequality gap by bringing the top lower, taxing rich people and businesses, and demonizing success.
If Joe Six Pack isn’t applying for mortgages and major investors end their purchases, we may reliable be able to predict how the market will snap back down.
There is no doubt big government types will point to the recent bridge collapse as an example of America "crumbling" and preach a sense of urgency to rebuild immediately. There will be calls for spending and calls for taxes to pay for that spending, and along the way there will be the usual demonization of anyone that thinks accounting and accountability should also play a role.
By the way, this is yet another warning call "If you have money in Spanish banks, move it somewhere else immediately!"
Based on true events, "Goodfellas" is one of the best gangster flicks in history. There are several morals to the story, including the fact that most robberies with lots of participants (read: more than one person) are eventually found out. That brings us to three big news events this week.