Links to Drink By

Apple's iPhone is 5 years old today and in that short period of time it has changed the information ecosystem.  I wonder what Apple TV will do?
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A recent court decision may pretty much end the building of any future coal-fired power plants. Natural gas is the likely winner.  Buy UNG?  Money quote:

 "The agency is also preparing to issue first-ever standards for carbon dioxide emissions from new power plants, which are likely to spur utilities to opt for cleaner natural-gas burning plants instead."

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Stockton CA is bankrupt. Retirees are screwed. "My prediction is that retiree health care is cut. I wouldn't be surprised to see it cut to zero," says a bankruptcy attorney.  Is Illinois next? Watch out for Muni bonds.


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Merkel is adamant that she will not bail out the PIIGs. "Not as long as I live." Could this be the bottom?  I wouldn't short this market.


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Disclosure: I own AAPL and UNG, among other long positions. I have covered all shorts.