Another day, another series of mergers and acquisitions. Among the most prominent today: Carl Icahn’s offer to acquire Clorox Co. and BHP Billiton’s takeover of Petrohawk Energy Corp. The frenzy is blowing across the country with considerable violence. And just like the last typhoon before the financial crisis, it will leave behind massive job destruction.
Economy
Debt-Ceiling Pissing Match Seen from a Safe Distance
by Wolf Richter • • Comments Off on Debt-Ceiling Pissing Match Seen from a Safe Distance
While Democrats and Republicans, jointly and severally, engage in an all-out pissing match over the national debt ceiling and the budget deficit that even has the Chinese worried, let’s take a moment and reflect from a safe distance on how we got here, and why nothing of significance is going to change.