Italy moved closer to a national unity government on Thursday, following Greece's lead in seeking a respected veteran European technocrat to pilot painful economic reforms in an effort to avert a euro zone bond market meltdown.
This happened to Greece, to Ireland and to Portugal and all three of them ended up needing bailouts. Now it is happening to Italy and Spain may follow shortly, but the EU cannot afford to bail out either of them.
Jim Rogers warned that there is a “100% chance” the world is facing a financial crisis worse than 2008, as Italy was plunged into chaos on the back of soaring bond yields which now make the country’s huge debt unsustainable, mandating yet another EU
Faber, who has warned since before the 2008 crisis that entire nations would fail due to high debt levels, that hyperinflation is an inevitable outcome of the Fed’s accounting games, and that war will be the ultimate result, shares his views on CNBC:
It's likely nothing more than a power elite dominant social theme, that the Euro-crisis is a deadly one and that the EU simply cannot figure out what to do. The meme is simple: Financial leaders with power and common sense must come to the rescue.
Michael Hudson, President of The Institute for the Study of Long-Term Economic Trends (ISLET), joins us to discuss the example of Iceland’s struggle against the banking oligarchy. We examine the history of Iceland’s debt crisis, the government that h
The problem in Europe, for both banks and governments, is insolvency everywhere one looks. This was brought about by too much debt and too much financial leverage by issuing debt. The only known solutions are (a) default, and (b) printing money to pa
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. . . is the one that churns outside of the grasp of any government.
With only a mobile phone and a promise of money from his uncle, David Obi did something the Nigerian government has been trying to do for decades: He figured out how to bring
This is a big dominant social theme of the power elite – that central banks fight inflation. Central banks CREATE inflation by printing money from nothing. But the elite promotion is orchestrated to avoid that reality.
Stocks, the euro and Italian bonds fell as a disagreement on boosting the International Monetary Fund’s resources to fight Europe’s debt crisis overshadowed a drop in the U.S. jobless rate. Treasuries fluctuated.
Actually... none of the above. Fukushima and the surrounding prefecture is as quaint and picturesque as ever. Eight months on, there are hardly any signs of a nuclear accident or major earthquake, at least on the surface.
Do you want to feel optimistic about the U.S. economy? If so, you might not want to read the rest of this article. In many areas of the United States today, you can almost smell the fear and the anxiety in the air.
Several lawmakers in the governing Socialist Party rejected Mr. Papandreou’s surprise plan for a popular referendum on the Greek bailout, raising the possibility that he will not survive a no-confidence vote scheduled for Friday that depends on his h
Oct. 31 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said he alone can deliver the country’s promised deficit cuts as European leaders ramp up demands that his government do its part to combat the region’s debt crisis.
Conversation shall turn to the IMF's SDR currency-in-waiting and how the IMF should serve as global central bank, dishing out its incomprehensible basket-fiat currency to all and sundry. This is perhaps the REAL plan – or one of several plans,
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