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Keyword: europe

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  • In Defense of His Majesty

    09/10/2005 10:30:16 AM PDT · by Unreconstructed Selmerite · 17 replies · 836+ views ^ | September 7, 2005 | William S. Lind
    As regular readers in this column know, my reporting senior and lawful sovereign is His Imperial Majesty Kaiser Wilhelm II. When I finally report in to that great Oberste Heeresleitung in the sky, I expect to do so as the Kaiser’s last soldier. Why? Well, beyond Bestimmung, the unhappy fact is that Western civilization’s last chance of survival was probably a victory by the Central Powers in World War I. Their defeat let all the poisons of the French Revolution loose unchecked, which is the main reason that we now live in a moral and cultural cesspool.
  • Markets Are Just Getting Uglier, US Futures Are Deep In The Hole

    07/23/2012 7:05:37 AM PDT · by blam · 11 replies
    TBI ^ | 7-23-2012 | Sam Ro
    Markets Are Just Getting Uglier, US Futures Are Deep In The Hole Sam Ro Jul. 23, 2012, 6:27 AM |Markets around the world are getting crushed. Investors and traders seem to be freaking out again about the euro crisis. Greek and Spanish stock markets are getting slammed. And it looks like things could be just as ugly in the U.S. markets when they trade today. Futures are currently signaling an ugly open. Dow futures are down 150 points. S&P 500 futures are down 15 points. Nasdaq futures are down 33 points. Energy and agricultural commodities are all down. Here's a...
  • Greece reportedly faces IMF aid cut-off

    07/22/2012 7:49:28 PM PDT · by Ernest_at_the_Beach · 8 replies
    Marketwatch ^ | July 22, 2012, 7:59 p.m. EDT | By Michael Kitchen, MarketWatch
    LOS ANGELES (MarketWatch) — The International Monetary Fund is set to stop aid payments to Greece, raising the odds that the nation will become insolvent as early as September, according to a German press report Sunday citing unnamed European Union officials. The “Troika” of international groups overseeing Greece’s aid — the European Commission, the International Monetary Fund and the European Central Bank (ECB) — are due to send inspectors to Athens this week to gauge progress toward the requirements of its assistance program. However, Der Spiegel reported that it’s “already clear” to the Troika that the Greek government won’t be...
  • Flash! European Zone Finances Still Coming Undone!

    07/20/2012 10:23:00 PM PDT · by Lowell1775 · 4 replies
    Open Source Survival Blog ^ | July 20, 2012 | Ronin Gael
    A famous Chevy Chase routine on Saturday Night Live was a weekly update on the death of Spanish dictator Francisco Franco. Franco died 20 November, 1973. For the first two years of the ‘Weekend Update” segment, Chase would report with a deadpan face and somber tone that “Generalissimo Francisco Franco is still dead.” Much the same reportage method could be applied to the status of European Zone finances as they circle the bowl. Like Bagdad Bob on Nodoz, we hear a continuous stream of reassurances by the media, bankers, financiers, and government officials on both sides of the ocean that...
  • Going to the Extreme: Euro-Preppers Get Ready for the Worst

    07/18/2012 4:12:44 PM PDT · by Kartographer · 27 replies
    SHTF Plan ^ | 7/18/20 | Mac Slavo
    It’s not just in the USA that a growing number of people are preparing for far-from-equilibrium scenarios resulting from economic or geo-political collapse. Many Europeans have also taken note of the troubling signs all around them. In the following report, RT visits a man who wished to keep his name and location anonymous. Like many Americans, he is preparing for all hell to break loose and has spent the last few years gearing up his home and supplies for the worst. Like most preppers and survivalist, he has modified his lifestyle to become more self reliant and less dependent on...
  • EU In Recession, US Entering Recession And China Is Lying About Its Growth

    07/12/2012 10:16:28 AM PDT · by blam · 2 replies
    TMO ^ | 7-12-2012 | Graham Summers
    EU In Recession, US Entering Recession And China Is Lying About Its Growth Economics / Recession 2012 Jul 12, 2012 - 10:11 AM By: Graham Summers The emerging markets, especially China, are showing signs of a major slowdown. Indeed, recent revelations have made it clear that China’s slowdown is in fact much worse than expected: Chinese Data Mask Depth of Slowdown, Executives Say Record-setting mountains of excess coal have accumulated at the country’s biggest storage areas because power plants are burning less coal in the face of tumbling electricity demand. But local and provincial government officials have forced plant managers...
  • Roubini: My 'Perfect Storm' Is Unfolding Now

    07/09/2012 11:28:26 AM PDT · by Kartographer · 15 replies
    CNBC ^ | 7/9/12 | Ansuya Harjani
    "Dr. Doom" Nouriel Roubini, says the "perfect storm" scenario he forecast for the global economy earlier this year is unfolding right now as growth slows in the U.S., Europe as well as China. In May, Roubini predicted four elements - stalling growth in the U.S., debt troubles in Europe, a slowdown in emerging markets, particularly China, and military conflict in Iran - would come together in to create a storm for the global economy in 2013.
  • Europe's Green Energy Suicide (Why would we want to be like them?)

    07/07/2012 6:14:35 PM PDT · by SeekAndFind · 3 replies
    Frontier Center for Public Policy ^ | 06/05/2012 | Rael Jean Isaac
    As austerity bites into European living standards, sparking revolt at the polls, "growth" has become the politician's mantra. But to be competitive, European countries require a secure, plentiful and competitively priced energy supply. Unless Europe radically rethinks its obsession with carbon dioxide emissions and the anti-fossil fuel energy policies that flow from it, growth is likely to remain elusive, says author Rael Jean Isaac in the Wall Street Journal. Lawmakers across the continent would do well to take to heart the conclusion of the European Commission Energy Department's Energy Roadmap for 2050, which stated frankly that "there is a trade-off...
  • A disappointing jobs picture and no, we're not doing better than Europe

    07/06/2012 6:04:31 PM PDT · by Bobbys1963 · 14 replies
    Fox News ^ | July 6, 2012 | John Lott
    Americans faced another disappointing jobs picture today. Of course, we could go through the numbers again. With the working age population growing by 191,000 last month, 80,000 more jobs doesn’t even come close to absorbing all these new workers, let alone employing those who have long been out of work. And then there’s the most important number of all: for 41 months, the unemployment rate has been above 8 percent. But how does the US labor market compare to Europe or the rest of the world? Earlier this week news reports may have made Americans feel a little better, if...
  • You think interest rates are low here? How does a negative interest rate sound to you?

    07/06/2012 1:21:21 PM PDT · by moneyrunner · 16 replies
    The Virginian ^ | 7/6/2012 | Moneyrunner
    The interest rate on German 2 year bonds is NEGATIVE! The rate is -0.013%. They will guarantee to pay you back LESS than you put in, and people are buying into it. From the Wall Street Journal: " ... investors buying the bond today are agreeing to get paid back less than their investment, locking in a loss. Usually, this sort of thing is only done when investors are acutely worried about getting their money back. In that context, locking in a slight loss might look like a better option than keeping yourself exposed to a possibly giant loss some...
  • Liechtenstein votes to keep royal veto

    07/06/2012 5:47:01 AM PDT · by annalex · 16 replies
    The Local ^ | 02 Jul 2012 09:00 GMT+1
    Voters in Liechtenstein on Sunday rejected a move to limit the powers of the royal family in a controversial referendum seeking to abolish the ruling prince's right to veto legislation.     Crown Prince Alois A total of 76.1 percent voted against the proposals for the tiny Alpine principality, where the ruling Liechtenstein family has a net worth estimated by Forbes at $5 billion. Crown Prince Alois, who was appointed acting head of state by his father Hans-Adam II in 2004, had threatened to quit if the referendum passed and eliminated the veto right which is enshrined in the constitution. The...
  • British suspected Islamic terrorist arrested in Germany

    07/06/2012 2:26:38 AM PDT · by Cindy · 12 replies ^ | 6:08PM BST 14 Jun 2012 | By Bruno Waterfield, Berlin
    "British suspected Islamic terrorist arrested in Germany A major German security operation targeted "dangerous" Islamist extremists in dawn raids by 850 police officers on 70 mosques, schools and homes across Germany." SNIPPET: "Hans-Peter Friedrich, Germany's interior minister, banned one Salafist network, Millatu Ibrahim, for "working against our constitutional order and against understanding between peoples". He also announced an investigation into two other networks, Dawa FFM and "The True Religion", with a view to a seeking additional bans."" SNIPPET: "Secret intelligence gathered by police and anti-terrorism officers across Europe gave "cause for concern" in Germany, Britain, France, the Netherlands and Austria,...
  • EU: German Dominance in Doubt after Summit Defeat

    07/02/2012 11:30:44 PM PDT · by bruinbirdman · 9 replies
    Spiegelonline ^ | 7/2/2012 | SPIEGEL Staff
    Outfoxed by Club Med Chancellor Merkel suffered a bruising defeat at last week's Brussels summit after leaders of Italy, Spain and France ganged up on her. Europe's power relations have shifted as a result. It looks like Germany will no longer be calling the shots in the EU. It was Monti, of all people, "Super Mario," as he's called in Berlin. The affable economics professor from Lombardy, the man the German Chancellery felt was the best thing that could have happened to Italy. The man who could "save Europe," at least according to Time magazine. It was Monti, of all...
  • Cameron could offer an EU vote on election day: Dramatic move designed to clinch Tory majority

    07/02/2012 7:57:40 AM PDT · by wolfman23601 · 1 replies
    Daily Mail (UK) ^ | 7/2/12 | James Chapman
    David Cameron could hold a referendum on Britain’s future in the EU on the same day as the next general election in 2015 under an explosive plan being hatched by senior Conservatives. The Prime Minister yesterday opened the door to giving people their first say on Britain’s membership of Europe since 1975, although he insisted now was not the time for such a vote. Read more:
  • George Clooney to Appear at Mega-Dollar Obama Fundraisers in Geneva

    06/30/2012 1:22:14 PM PDT · by thecodont · 16 replies
    Hollywood Reporter via Drudge Report ^ | 11:08 AM PDT 6/29/2012 | by Tina Daunt
    George Clooney has signed on for another special guest appearance as the Barack Obama re-election campaign takes its summer fundraising tour across the Atlantic in pursuit of Euro-cash. The Obama campaign posted an invitation on its website Friday revealing that the presidential pal-in-chief will appear at a pair of Americans Abroad for Obama events Aug. 27 in Geneva, Switzerland. Clooney, who usually spends summers at his villa on Italy’s Lake Como, made a similar appearance across the Swiss border on behalf of then-candidate Obama during the run-up to the 2008 general election. Charles Adams, co-president of the campaign’s European outreach...
  • The Netherlands to Abandon Multiculturalism

    06/28/2012 10:13:41 AM PDT · by bayouranger · 14 replies ^ | 23JUN12 | Soeren Kern
    The Dutch government says it will abandon the long-standing model of multiculturalism that has encouraged Muslim immigrants to create a parallel society within the Netherlands. A new integration bill (covering letter and 15-page action plan), which Dutch Interior Minister Piet Hein Donner presented to parliament on June 16, reads: "The government shares the social dissatisfaction over the multicultural society model and plans to shift priority to the values of the Dutch people. In the new integration system, the values of the Dutch society play a central role. With this change, the government steps away from the model of a multicultural...
  • Legal Illegal Immigration

    06/28/2012 3:42:10 AM PDT · by Kaslin · 3 replies ^ | June 28, 2012 | Victor Davis Hanson
    President Obama recently issued an edict exempting an estimated 800,000 to 1 million illegal aliens from the consequences of federal immigration law. Ostensibly that blanket amnesty applies to those who arrived before the age of 16 and are younger than 30; who are in, or graduated from, high school or have served in the military; and who have not been convicted of a felony or multiple misdemeanors. And while most Americans sympathize with helping those who were brought into the United States as toddlers, raised as de facto Americans and followed the rules, the policy of exempting hundreds of thousands...
  • The United States of Europe?

    06/24/2012 6:11:38 PM PDT · by Former Fetus · 11 replies
    Bible Prophecy Blog ^ | 6/24/2012 | Michael G. Mickey
    As a student of bible prophecy and someone who has dedicated an enormous amount of time to examining current events through the lens of bible prophecy (and sharing my findings with others), there have been a number of moments when my jaw has figuratively hit the floor as a result of a headline from the news of our world today. Today is one of those days! The headline that made my teeth rattle? It's this: 10 countries for a United States of Europe! Those of you who have been following along with me for any amount of time know my...
  • Why Does Europe Have Problems

    BRUSSELS — For most Europeans, almost nothing is more prized than their four to six weeks of guaranteed annual vacation leave. But it was not clear just how sacrosanct that time off was until Thursday, when Europe’s highest court ruled that workers who happened to get sick on vacation were legally entitled to take another vacation.Any idea why that continent is so screwed up?
  • On Vacation and Sick? A Court Says Take Another (Euro weenies)

    06/22/2012 9:17:35 AM PDT · by C19fan · 4 replies
    New York Times ^ | June 21, 2012 | Paul Geitner
    For most Europeans, almost nothing is more prized than their four to six weeks of guaranteed annual vacation leave. But it was not clear just how sacrosanct that time off was until Thursday, when Europe’s highest court ruled that workers who happened to get sick on vacation were legally entitled to take another vacation. ................................................. The Court of Justice had previously ruled that a person who gets sick before going on vacation is entitled to reschedule the vacation, and on Thursday it said that right extended into the vacation itself.
  • Olympics- Cyber attack seen as emerging threat for London 2012

    07/28/2009 1:52:49 AM PDT · by Cindy · 47 replies · 883+ views ^ | Tue Jul 21, 2009 10:48am EDT | Avril Ormsby
    LONDON, July 21 (Reuters) - Olympic organisers are "very alive" to the threat of a cyber attack on the London 2012 Olympics, made more challenging because of its evolving nature, senior Interior Ministry officials said on Tuesday. Ticketing systems, the transport network and hotel bookings as well as security are among potential targets. Olympic security officials are also planning for the possible diversion of aircraft to protect airspace around the venues from terrorist attacks, the officials said. The greatest threat to security at the Games is international terrorism, the government's latest "Safety and Security Strategy" report said.
  • EC President Blames US For Financial Crisis in Europe

    06/19/2012 6:44:03 AM PDT · by Kaslin · 23 replies ^ | June 19, 2012 | Mike Shedlock
    The G-20 summit off to a great start if you like fireworks, endless bickering, and finger-pointing. Otherwise these summits are totally useless. When asked by a Canadian journalist "Why should North Americans risk their assets to help Europe?" EC President José Barroso replied "Frankly, we are not here to receive lessons in terms of democracy or in terms of how to handle the economy." The Guardian has further details in Barroso blames eurozone crisis on US banks. The opening day of the G20 summit was threatening to deteriorate into a fractious row between eurozone countries and other non-European members of...
  • Europe's on the brink of probably the gravest and most frightening tumult of our lifetime

    06/19/2012 5:13:01 AM PDT · by C19fan · 12 replies
    UK Daily Mail ^ | June 19, 2012 | Max Hastings
    We spent most of yesterday on a beach in Devon — the family and me, that is. The sun was shining, the sand golden; gentle surf washed the shore against a backdrop of soft woods and green fields rising from the shore. I mention these holiday scenic details only to make the point that our world yesterday — and yours, too, I expect — looked pretty much the way it did the day before and, for that matter, in years gone by. Because this is so, because no bombs are dropping, nor Viking hordes sacking villages nor dinosaurs roaming city...
  • Spain pleads for ECB rescue as bond markets slam shut

    06/18/2012 8:32:26 PM PDT · by bruinbirdman · 39 replies
    The Telegraph ^ | 6/18/2012 | Ambrose Evans-Pritchard
    Europe's leaders have vowed to mobilise all possible means to counter the region's escalating crisis after Spain's borrowing costs threatened to spiral out of control. Yields on 10-year Spanish bonds surged to a record high of almost 7.3pc as investors ignored the victory of pro-bailout parties in Greece's elections. The closely-watched two-year yield rocketed by 65 basis points in a matter of hours, signalling a near-total collapse of confidence in Spain's €100bn (£80.3bn) rescue from the EU last week to shore up its banking system. Cristobal Montoro, the economy minister, warned that Spain is now in a "critical" condition and...
  • 19 Reasons Why It Is Time To Start Worrying About The Global Economy

    06/18/2012 8:53:20 PM PDT · by 2ndDivisionVet · 11 replies
    ETF Daily News ^ | June 18, 2012 | Michael Snyder
    Yes, it is officially time to start freaking out about the global economy. The European financial system is falling apart and it is going to go down hard. If Europe was going to be saved it would have happened by now. The big money insiders have already pulled their funds from vulnerable positions and they are ready to ride the coming chaos out. Over the next few months the slow motion train wreck currently unfolding in Europe will continue to play out and things will likely really start really heating up in the fall once summer vacations are over. Most...
  • Europe: She’s Come Undone.

    06/18/2012 5:35:32 PM PDT · by Lowell1775 · 8 replies
    Open Source Survival ^ | June 17, 2012 | Ronin Gael
    snip.... Old News and Current Events: I have written before that the fundamentals of the Euro and European Union didn’t bode well. They still don’t. Each step of these “rescues”, Iceland in 2008, Ireland in 2009, Portugal in 2011, Italy and Greece in 2011 and 2012….and now Spain ….are all just shocking the dying patient back to life for a few more moments of pain and chaos. The inevitable and permanent straight-line on the EKG is coming. It will be a collapse of the Euro and a financial crisis of a size not seen since WWII or the Great Depression....

    06/18/2012 10:46:33 AM PDT · by blam · 33 replies
    TBI ^ | 6-18-2012 | Simone Foxman
    MERKEL WON'T BUDGE, SPAIN AND ITALY GET DESTROYED Simone Foxman June 18, 2012, 11:40 AM The Spanish IBEX 35 and the Italian FTSE MIB got crushed today, after Greek elections failed to reassure markets that anything has changed for the troubled Spain and Italy. Comments from German Chancellor Angela Merkel worsened the blow. She told reporters near the end of European trading that she will not budge on the terms of the Greece aid package. In core Europe, the DAX held on to gains to end just slightly higher, but the French CAC 40 fell 1 percent. That negativity appears...
  • Forget The Election Results - Greece Is Still Doomed And So Is The Rest Of Europe

    06/18/2012 7:30:55 AM PDT · by blam · 26 replies
    TEC ^ | 6-18-2012 | Michael Snyder
    Forget The Election Results - Greece Is Still Doomed And So Is The Rest Of EuropeMichael SnyderJune 18, 2012 The election results from Greece are in and the pro-bailout forces have won, but just barely. It is being projected that the pro-bailout New Democracy party will have about 130 seats in the 300 seat parliament, and Pasok (another pro-bailout party) will have about 33 seats. Those two parties have alternated ruling Greece for decades, and it looks like they are going to form a coalition government which will keep Greece in the euro. On Monday we are likely to see...
  • U.S. Stocks Hit As Spanish Yields Top 7%

    06/18/2012 7:09:33 AM PDT · by blam · 6 replies
    Market Watch ^ | 6-18-2012 | Kate Gibson
    U.S. Stocks Hit As Spanish Yields Top 7%June 18, 2012By Kate Gibson, MarketWatch NEW YORK (MarketWatch) — U.S. stocks retreated Monday as any cheer from Greek-election results was overcome by concern over rising government bond yields in Spain. Leaders of the world's largest economies are gathering in Mexico for the latest G-20 meeting. WSJ's Simon Nixon expects little from them unless they consider a new world order that can tackle the financial crisis. Photo: Getty Images “The market has moved beyond Greece to Spain, which has both a government debt issue and a banking loan problem that is crippling its...
  • US won't send checks to Europe: Romney

    06/18/2012 4:48:15 AM PDT · by wolfman23601 · 7 replies
    The United States will not bail out European countries if the eurozone economy falls apart under a spiraling debt crisis, Republican White House hopeful Mitt Romney said Sunday. (Full article at link)
  • Greece will have to leave EMU whoever is elected

    06/17/2012 2:23:08 PM PDT · by bruinbirdman · 15 replies
    The Telegraph ^ | 6/17/2012 | Ambrose Evans-Pritchard
    The exact circumstances and timing of Greece’s ejection from monetary union no longer have any systemic importance for global finance. The damage has already been done. The precedent of EMU break-up is by now priced into the credit markets. Formalising it changes little. Central banks across the world are standing ready to shower markets with emergency liquidity. A dust-up in Athens is the excuse they need to launch a fresh blitz of stimulus as the global economy flirts with recession once again. Fed chair Ben Bernanke requires a crisis somewhere to outflank his own hawks and slip another round of...
  • This Is What The Greek Election Results Mean

    06/17/2012 9:29:14 AM PDT · by blam · 27 replies
    TBI ^ | 6-17-1012 | Simone Foxman
    This Is What The Greek Election Results Mean Simone Foxman June 17, 2012 The first exit polls are out in Greece, and it looks like New Democracy is in the lead, albeit by a tiny margin. While these are just early results, this could bring either a huge sigh of relief to Europe--or another disastrous deadlock. If New Democracy is able to hold out in front as more results roll in, it will get a 50 seat bonus. Then it's all up to PASOK to win enough support to allow the two pro-bailout parties to form a coalition. Good news...
  • Greek Vote Could End In A Nightmare Scenario Stalemate

    06/17/2012 5:30:50 AM PDT · by blam · 15 replies
    TBI ^ | 6-17-2012 | Joe Weisenthal
    REPORT: Greek Vote Could End In A Nightmare Scenario Stalemate Joe Weisenthal June 17, 2012ATHENS, GREECE -- An FT report saying that the Greek vote is set to end in "stalemate" is the buzz of the moment. The gist is that the election could have a nightmare outcome, where still no party captures enough support so that a coalition government might be formed. Remember, the whole reason Greece is voting right now is because this is what happened at the May 6 election. But people here have been skeptical of this outcome. For one thing, the assumption is that the...
  • Bank Of England Panic's, Funnels £140 Billion To Bankrupt Banks Ahead Of Eurogeddon

    06/16/2012 6:33:39 AM PDT · by blam · 11 replies
    TMO ^ | 6-15-2012 | Nadeem Walayat
    Bank Of England Panic's, Funnels £140 Billion To Bankrupt Banks Ahead Of Eurogeddon Interest-Rates / Global Debt Crisis 2012 Jun 15, 2012 - 09:36 AM By: Nadeem Walayat Banking stocks soared today on news that the George Osbourne and Mervyn King policy for the Bank of England to give cheap money to the banks to enable them to provide credit to the wider economy. Off course the reason offered is just smoke and mirrors propaganda, the real reason why the Bank of England is yet again stuffing every orifice of the UK Banks with tax payer cash (where ultimate liability...
  • Drachmageddon? Middle-class poverty. Feral Gangs. Neo-Nazis. Athens Waits For The Volcano To Explode

    06/15/2012 9:02:11 PM PDT · by blam · 65 replies
    The Daily Mail ^ | 6-15-2012 | Robert Hardman
    Drachmageddon? Middle-class poverty. Feral Gangs. Neo-Nazis. Athens Waits For The Volcano To Explode By Robert Hardman 15 June 2012 Antonis Perris was a devoted son. When his elderly mother was diagnosed with Alzheimer’s four years ago, there was no question of putting her in a state facility. He would care for her at home in Athens and they would face the future together. But then things started getting very much worse. ‘The problem is that I was not prepared when the economic crisis hit and I do not have enough money in my account,’ wrote the 60-year-old unemployed musician. ‘My...
  • Nigel Farage slams 'incompetent' Mariano Rajoy and warns the 'Euro Titanic' has hit the iceberg

    06/13/2012 1:01:07 PM PDT · by UKrepublican · 14 replies
    Speaking in Strasbourg today at the European Parliament, UKIP leader Nigel Farage outlined why the bailout of Spanish banks will seriously aggravate the euro crisis. He rubbished the 'success' of the Spanish bailout, and accused Jose Manuel Barroso of a series of failed predictions for the economy. Dispelling myths that Europe 'had turned a corner', Farage warned of a 'looming, impending disaster'. Speaking of a 'total and utter failure' he said that the crisis had reached such severity 'you just couldn't make it up':
  • Europe to build world's biggest telescope powerful enough to see mountains on planets beyond solar..

    06/13/2012 8:16:42 AM PDT · by LibWhacker · 54 replies
    Daily Mail ^ | 6/12/12 | Eddie Wrenn
    £872million project will be built on Chilean mountaintop by 2022A coalition of 15 European countries has announced plans to build the biggest telescope in the world. The mirror inside the telescope will measure 39metres across - four times wider than today's biggest telescope - and it will be so powerful that astronomers will even be able to observe dark, rocky planets far beyond our solar system. The European Southern Observatory project is supported by 15 members of the European Union and has the catchy name 'European Extremely Large Telescope'... even if it will be built in Chile, to avoid light...
  • Nigel Farage: The Euro Titanic Has Now Hit The Iceberg (EPIC RANT)

    06/13/2012 7:56:52 AM PDT · by tcrlaf · 14 replies
    Zerohedge ^ | 6-13-01 | Tyler Durden
    In an epic rant, trumping Biderman, UKIP's Nigel Farage appears to have reached the limit of his frustration with his 'peers' in the European Parliament after the Spanish bailout. Rajoy's proclamation that this bailout shows what a success the euro-zone has been, sends Farage over the edge as he sees the Spaniard as just about the most incompetent leader in the whole of Europe (up there with favorites like Van Rompuy and Barroso). The erudite Englishman notes that by any objective criteria "The Euro Has Failed" expanding on the insane farce of Italy funding Spain's banking bailout at a loss...
  • A Whole Bunch Of Impending Disasters That Are Staring Markets In The Face

    06/11/2012 7:10:14 PM PDT · by blam · 14 replies
    TBI ^ | 6-11-2012 | Joe Weisenthal
    A Whole Bunch Of Impending Disasters That Are Staring Markets In The Face Joe Weisenthal June 11-2012 This is how it works. When markets are up, people find positive stories to talk about. When markets are down, people focus on the negative. The point is: Markets lead the narrative, not the other way around. Hence, people are talking about some gloomy things. SocGen FX strategist Sébastien Galy lists several things to worry about in a note tonight. They include: * The ESM (European bailout fund) doesn't work. It makes sovereign bondholders less senior, and therefore is toxic. * Greece is...
  • The EU Is Considering Limiting ATM Withdrawals And Border Checks If Greece Leaves The Euro

    06/11/2012 9:49:55 AM PDT · by blam · 14 replies
    TBI - Reuters ^ | 6-11-2012 | Luke Baker
    The EU Is Considering Limiting ATM Withdrawals And Imposing Border Checks If Greece Leaves The Euro Luke Baker, ReutersJune 11, 2012 European finance officials have discussed as a worst-case scenario limiting the size of withdrawals from ATM machines, imposing border checks and introducing capital controls in at least Greece should Athens decide to leave the euro. EU officials have told Reuters the ideas are part of a range of contingency plans. They emphasized that the discussions were merely about being prepared for any eventuality rather than planning for something they expect to happen - no one Reuters has spoken to...
  • Greco Sees A Ghost

    06/11/2012 7:31:44 AM PDT · by jfd1776 · 5 replies
    Illinois Review ^ | June 11, 2012, A.D. | John F. Di Leo
    The poor relative of Europe contemplates his choices, with just a little help from beyond…... Greco had had a bad year. Well, that’s not entirely true. He’d had several bad years, and they just kept getting worse. In debt up to his eyeballs with a grubber list that no amount of income could ever cover, he had turned to the biggest loan sharks on the continent: He got hundreds of billions from Madame Angela and Slick Nicky, back when Slick Nicky still had a say in the matter. Now that he’s heard of a change in management up at Mob...
  • Greek Debt Crisis: Chronic Drug Shortage Risking Lives Of The Sick

    06/09/2012 11:35:13 AM PDT · by blam · 7 replies
    The Guardian (UK) ^ | 6-8-2012 | Lizzy Davies
    Greek Debt Crisis: Chronic Drug Shortage Risking Lives Of The SickPatients groups' warning comes as pharmaceutical companies become increasingly reluctant to deliver drugs on credit Lizzy Davies in Athens, Friday 8 June 2012 14.51 EDT Clutching a prescription and a ticket numbered 192, Aris stood on the pavement and waited his turn at the state pharmacy. When speaking of his daughter, whose multiple sclerosis medication he had come to collect, the 74-year-old was short on words and visibly moved. When asked about the drug shortages afflicting his country, his reserve melted away and in its place came rage. "I...
  • Geithner Pleads With Europe To Pass EuroTARP, Obama Wants HARP 2.0+ Passed

    06/08/2012 1:15:43 PM PDT · by whitedog57 · 4 replies
    Confounded Interest ^ | 06/08/2012 | Anthony B. Sanders
    Treasury Secretary Timothy Geithner is pleading with Europe to repeat the American banking experiment called TARP – Troubled Asset Relief Program. Europe already has programs in place such as LTRO. Geithner wants a huge infusion of cash into Euro banks (such as in faltering Spanish banks). Will it work? It will discourage further bank failures, but it doesn’t solve the underlying problem – government spent too much, borrowed too much and promised too many entitlements. Eurozone growth is feeble and simply giving banks more money may instill confidence in the banking system, but it does not necessarily help with more...
  • Iran, Syria and China Oil Deal Flouts Western Sanctions

    06/08/2012 6:15:23 AM PDT · by PieterCasparzen · 3 replies
    INTERNATIONAL BUSINESS TIMES ^ | 3/30/2012 | Anissa Haddadi
    Iran, Syria and China have been accused of flouting US and EU sanctions in a three-way deal to boost the Syrian regime's bank balance with oil revenues. Iran, which has backed the Damascus government President Bashar al-Assad thoughout the year-long uprising, has provided Syria with a tanker to ship oil to a Chinese state-run importer, reports have claimed. The move, in defiance of Western sanctions, could give the Syrian regime an £80m boost, Reuters said. China has been criticised for vetoing two Western-backed resolutions at the UN which condemn the bloodshed in Syria and step up pressure against Assad. Although...
  • EU Not on China’s Chessboard

    06/08/2012 5:27:49 AM PDT · by PieterCasparzen
    The Diplomat ^ | 5/13/2010 | John Lee
    European nations are making a mistake courting China, says John Lee. To maintain relevance they need to align with the US. At the height of the George W. Bush presidency, in 2004, Chinese state-owned media enthusiastically pushed the prospect of China and states within the European Union such as France working together in strategic unison to promote a more peaceful and stable multi-polar world. Yet fast forward six years, and it’s clear the visit by French President Nicolas Sarkozy (and EU President Jose Manuel Barroso) to China late last month was only the latest attempt to revive Europe’s relevance as...
  • Markets Are Really Going Wild Ahead Of Huge ECB Decision

    06/06/2012 5:15:03 AM PDT · by blam · 8 replies
    TBI ^ | 6-6-2012 | Joe Weisenthal and Gus Lubin
    Markets Are Really Going Wild Ahead Of Huge ECB Decision Joe Weisenthal and Gus Lubin Jun. 6, 2012, 4:12 AM Later today the ECB makes its decision on interest rates. The range of forecasts is all over the map, though the majority of economists think there will be no change. That being said, markets are booming. [And booming even more—update 6:45 EDT] Italy is up 2.3%. Germany is up 1.7%. Spain is up 3.7%! Dow futures point to a 100 point open. Gold and silver are rallying very hard. Other than ECB anticipation, the other big news is the confirmation...
  • Britain’s Already Dead, It Just Hasn’t Been Buried Yet

    06/05/2012 9:01:43 AM PDT · by SeekAndFind · 43 replies
    Pajamas Media ^ | 06/05/2012 | Kyle Smith
    Don’t be fooled by the pomp and dazzle of the Queen’s royal Diamond Jubilee flotilla easing past the tourists, celebrity-spotters, and pickpockets on the Thames. Britain is a country rotting from the inside, the first nation on earth that elected to destroy its culture with political correctness.Asks British columnist Rod Liddle, “Who are the people who have made Britain what it is today, the ones who ensured that we became a limp-wristed and decrepit, post-imperial satrapy of incompetence, sanctimony, self-obsession and self-loathing?”Who indeed? (By limp-wristed, Liddle means lacking in conviction, not gay). The short answer is the new aristocracy,...
  • Investors Position for a Synchronized Global Slowdown: El-Erian

    06/04/2012 8:21:42 AM PDT · by TigerLikesRooster · 2 replies
    CNBC ^ | 06/02/12 | Mohamed El-Erian
    Investors Position for a Synchronized Global Slowdown: El-Erian Published: Saturday, 2 Jun 2012 | 12:44 PM ET By: Mohamed El-Erian CEO, PIMCO The insufficient job creation, stagnant earnings and alarming long-term unemployment highlighted by May’s disheartening jobs report underscore America’s persistent unemployment crisis. The numbers also speak to a synchronized slowdown that is now taking hold of the global economy — a phenomenon that is being signaled by virtually every other data release out of Europe, the U.S. and emerging countries. The realization of lower global growth, together with increasing financial instability in some parts of the world (particularly Europe),...
  • Risk On: Obama and Soros Call For European Action To Stem Crisis (Roy Hobbs from “The Natural”)

    06/03/2012 10:54:34 AM PDT · by whitedog57 · 7 replies
    Confounded Interest ^ | 06/03/2012 | Anthony B. Sanders
    This should be an interesting week in global markets. President Obama, speaking at a Chicago fundraiser on Friday, said that a report showing the slowest month of U.S. employment growth in a year was in large part “attributable to Europe and the cloud that’s coming over from the Atlantic.” The “whole world economy has been weakened by it,” he said. Sorry, President Obama, the cloud you are referring to is outrageous government spending, entitlements and debt … and the cloud is already here. Remember, 50% of Americans do not pay Federal taxes and 50% of Federal government spending is on...
  • Bilderberg 2012: real men don't like oligarchs

    06/03/2012 4:10:37 AM PDT · by Cplus · 17 replies
    The ^ | June 3, 2012 | Charlie Skelton
    "At Bilderberg are the apex predators of the world crime syndicate. Now, I'm a physician. These people display all the classic symptoms of psychopathy. They exhibit an obsessive compulsion towards the exercise of power. These are extremely ill people, they have a culture of negativism and death. And I'm here to stop their agenda. It's the agenda that's killing us."