S&P’s downgrade of a bunch of European sovereigns was no surprise. What was somewhat surprising — and which went unmentioned in almost all the news stories I’ve read — was why S&P has gotten so pessimistic. (Paul Krugman)
What with the Murdoch scandal, the eurozone problems and ongoing US economic woes, the greedy few have left people disillusioned with our debased democracies. (By Charles Moore)