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As all this plays out, of course, the USA will be struggling with very similar problems of capital and economy, and as our states fall into bankruptcy one can easily imagine all kinds of political mischief here that would parallel the unravelings...
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Love him or hate him, Putin is right. While the media's attention remains on the Greek fiscal crisis, the bigger debt crisis is in the US, and the world is starting to take notice.
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Recent periods of heavy selling in the Spanish stock market, in the wake of fears that worries over Greece will spread to other European nations, is reportedly being investigated by the country's intelligence service.
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The European single currency is facing an 'inevitable break-up' a leading French bank claimed sayingt any bailout of the stricken Greek economy would only provide 'sticking plasters' to cover the deep-seated flaws in the eurozone bloc.
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IMHO, the likelihood of what Johnson is foretelling us is about to occur in Europe is very high. The political fallout Democrats--not to mention our entire country--are already paying for these inevitable outcomes is totally unacceptable, and on many
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European finance ministers bluntly told Greece to prepare tougher spending cuts and new taxes in an attempt to snuff out a government debt crisis that has shaken the entire eurozone. It will need to take the extra measures if current cutbacks don't b
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If you ever start thinking no place could suck harder than the good ol' U.S.A., just look to the glory that is Greece. The Greek government is responding to its self-inflicted debt crisis by doing just about every single thing wrong.
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Large multiple-ounce nuggets are being dug up, and metal detectors are being ordered around the globe.
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Organised by the Bank for International Settlements last year, the two-day talks are shrouded in secrecy with high-level security believed to have been invoked by law enforcement agencies.
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[I don't know how good it will be....] Nowhere in the world can such a concentration of power be found than at the World Economic Forum's meeting in Davos, Switzerland. Scott Pelley goes behind the scenes this Sunday, Feb. 14, 7 pm ET/PT.
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Goldman Sachs helped the Greek government to mask the true extent of its deficit with the help of a derivatives deal that legally circumvented the EU Maastricht deficit rules.
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Michael Shedlock describes how major economies of both the East and West our using a 'Beggar Thy Neighbor' strategy.
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China's unexpected move to tighten credit for the second time in a month and a report showing that Europe's growth ground to a near-halt fueled concerns over the global economy Friday as Wall Street closed a volatile week of trading.
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When David Rockefeller and Zbigniew Brzezinski founded the Trilateral Commission in 1973, the intent was to create a "New International Economic Order" (NIEO). To this end, they brought together 300 elite corporate, political and academic leaders fro
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Amid fears Switzerland might come to an agreement with the US on banking privacy and tax evasion disclosures, Credit Suisse issued a report identifying countries it determined to have the highest risks of default on their sovereign debts.
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Meantime, while everyone's focused elsewhere, in the American part of the real world Elizabeth Warren warns that $1.4 trillion in commercial real estate loans that need to be rolled over by 2014 will endanger 3000 smaller US banks.
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China raised the level of reserves banks must hold for the second time this year on Friday, spooking financial markets on the eve of its New Year holiday by showing it was intent to curb lending and inflation.
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The commercial property space under construction in China at the end of November was the equivalent of 6,800 Burj Khalifas -- the 160-story Dubai skyscraper that’s the world’s tallest.
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For Greece, with on and off balance sheet liabilities at over 800%, it's game over. For the Eurozone, with the same ratio at about 500%, it is also game over. For the US, at 500%+, it is, you guessed it (sorry Joseph Stiglitz), game over...
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The leaders of the 27-nation bloc promised “determined and co-ordinated action if needed to safeguard stability” of the eurozone, which has been shaken by turmoil in bond markets amid fears that Greece’s debt problems could spread.
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European Central Counterparty Limited (EuroCCP) is a UK-incorporated, FSA Recognised Clearing House that is governed by its European users. It is the European subsidiary of The Depository Trust & Clearing Corporation (DTCC) headquartered in London.
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The Dow rose 150 points yesterday. We’re not sure what to make of it. Does it mean we were wrong about the beginning of the end? Are we still in the middle? Or is our whole theory wrong?
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China has ordered managers of its vast currency reserves to to withdraw from risky dollar assets and retreat to core debt guaranteed by the US government, a clear sign that Beijing is battening down the hatches for fresh trouble on global markets.
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"Dollar-denominated risk assets, including asset-backed securities and corporates, are no longer wanted at the State Administration of Foreign Exchange (SAFE), nor at China’s large commercial banks" says the post. As of this writing I'm doubtful.
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It is sheer lunacy if the ECB and Germany believe that the guarantee program will not wreak havoc on their plans to quietly fund this massive hole.
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It is appropriate to collect some information tidbits about this shindig which has some claiming is reminiscent of a modern day version of the Jekyll Island meeting.
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The system is never, by definition, prepared for massive fund flows in the outward bound direction, this is the greatest nightmare of any regulator or any central bank. If indeed the money rush out of Greece has commenced, then it is too late to save
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Any flight into Treasury securities should, of course, be looked at as temporary in nature and an opportunity to add to these short positions.
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Non-performing loans in China have risen into the “trillions of renminbi” because of poor lending practices, an insolvency lawyer said. Is the China growth miracle just hype?
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Conflicting U.S. jobs data and mounting concerns about debt defaults abroad that threaten global economic growth triggered a worldwide wave of stock-market volatility Friday amid fears that the improving U.S. economy could unravel.
