Juggling Dynamite

Stephen Roach, a professor at Yale University and former non-executive chairman for Morgan Stanley in Asia, talks about the European debt crisis and the outlook for the euro. Here is a direct link.

Risk markets are roaring out of the bell this morning, on the next wave of nonsensical hype that today’s 20th EU summit has solved European insolvency. More debt and even more debt will not work. Most repugnant is the agreement once again to further subjugate European taxpayers as their political representatives agree that bond holders will continue to enjoy preferred-creditor status on crisis loans ahead of taxpayers. If there is any doubt as to who these politicians see as their true constituents, this agreement further reminds us–it’s the banks, not “we the people”.

This is another in a long line of efforts to save banks ahead of the real economy as taxpayers are thrown further and further under the bus. And that recession that is now underway around the world? More debt and more cuts to the real economy to support fake balance sheet values in banks will only extend and deepen our global downturn. Tomorrow we suffer more, but today apparently, we dance. In more relevant news, this morning we see that US consumer confidence sunk further in May, now at the lowest point since last December.

Here is a direct link.

Here is a direct link.

I first learned of Dylan when we met on the Fast Money set in 2008 before he left for MSNBC.

I have appreciated his work and his rare, thoughtful discussion on the controversial and complex issues we are facing today. Over the past 3 years, Dylan has been hosting the right conversations when so few are. Eyeballs have been falling across the board in business television (because the content is too frequently biased, status quo and worthless in my view). Increasingly people are turning off and selecting their own content of interest via the internet.

The Dylan Ratigan Show was the highest-rated, non-prime time show on the network, aimed at critiquing what Ratigan sees as an unholy alliance between big business and government. The Dylan Ratigan Show gained in total viewership 18%, while CNN and Fox fell 15% and 7% respectively in total audience. He is now signing off to regroup and evolve to a new platform to in his words “teach, model and show how to get more abundant supplies of food, energy, learning and health along with cultures that cultivate access to opportunity to maximize potential for all groups and individuals.” Bravo to that. Here is his new website. We can look forward to Dylan’s next reincarnation.

Here is a direct link to his exit interview.

Visit msnbc.com for breaking news, world news, and news about the economy

Here is a direct link.

Visit msnbc.com for breaking news, world news, and news about the economy

Here is part 2.

Visit msnbc.com for breaking news, world news, and news about the economy

Domestic, efficient and alternative energy policies are a cornerstone of the renaissance America now needs. Here is a direct link.

Visit msnbc.com for breaking news, world news, and news about the economy