Wall Street’s favorite economist, Ed Hyman, likes to annotate headlines and news snippets. In today’s morning report, he groups some under “depressing” and others under “encouraging.” Depressing Unions Join Wall St Protest (NYT) Senate Democrats proposed a 5% surtax on incomes over $1m (WSJ) Encouraging Merkel Ready to Aid Banks (IBD) The BoE expanded its bond-purchase plan to $420b from $300b (Bloomberg) IMF Considers Plan to Purchase European Bonds (WSJ) Gotta love that state when it supports The Market, eh?