This week’s news to watch for:
- Greek talks have broken down and they might be about to leave the euro, causing chaos.
- Negotiations with the Iranians have hit a pretty rough patch. There may be no nuclear deal after all.
- Puerto Rico has effectively declared bankruptcy.
- China’s stock markets, which have been falling already, are off a cliff today. “China’s main stock index entered bear-market territory Monday,” says the Wall Street Journal, “as a surprise interest-rate cut over the weekend failed to lift the market amid concerns over investors’ debt levels, while uncertainty about Greece shook sentiment elsewhere in the region.”
- And in non-financial bad news, the Supreme Court has a couple of important cases coming up this week. The smart money suggests that the liberal run of good luck in the high court may be over. Fasten your seat belts.
POSTSCRIPT: It’s already happening. The Court has just upheld lethal injection procedures for executing death-row inmates and has struck down EPA rules on toxic emissions. On the brighter side, they ruled that independent commissions can draw district lines. So liberals are 1-2 so far this week.