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Twenty years after the Soviet Union collapsed, Vladimir Putin, the Russian prime minister, may not, as is sometimes alleged, be trying to recreate it. But he is pursuing a different project – to build a “quasi-European Union” out of former Soviet sta
After reading the newly-released SummerTrends Journal, no responsible journalist will be able, in good conscience, to paint Gerald Celente again as a purveyor of “Pessimism Porn,” a “gloom and doomer,” or an “alarmist.”
President Nicolas Sarkozy slammed his fist on the table and threatened to pull France out of the euro at a meeting of European leaders deciding Greece's aid package last Friday, according to Spain's El Pais newspaper.
Greece's deficit spending as a percentage of GDP (~12.5% this year) looks a lot like ours, which is right around 11% at present. Is anyone in Washington DC paying attention to what's happening over there?
World markets slid Thursday amid mounting worries about a potential Greek debt default as the country's borrowing costs continue to go through the roof.
Bjoernsdottir is not alone in planning to leave Iceland's economic mess behind and seek a new future abroad. Most people in Reykjavik have someone in their surroundings who has already packed their bags and left.
Anna Margret Bjoernsdottir never thought she would be forced to leave her once wealthy homeland. But taking out a loan in a foreign currency was a disastrous decision. After 18 months of economic upheaval she has decided to join the biggest emigrat
Oh no, we better not talk about the black hole opening up on bank balance sheets (again)..... that might be a problem eh? Just remember that right up until Lehman blew up the market, while it had its ups and downs, didn't react "too badly" either.
George Soros has brought together a crack team of the world's top economists and financial thinkers. Its aim: To remake the world's economy as they see fit.
(Originally posted July of 2008 - Some of these things have yet to pass - Listen to the first link to a very informative interview and be afraid... this whole thing has just started)
I'm starting to see the pattern in the tapestry. There is eno
“We were struck by the 44 percent increase in problem loans in the quarter,” Morgan Stanley analysts Huw van Steenis and Hubert Lam said in a note today, cutting their rating on Deutsche Bank shares...
In the past week several leading economists have stated that the recession is over or about to end. The latest data from the nations largest port does not back up their rosie assessments. Both import and exports are falling...
The whole thing is a giant gong show really. When the world unraveled these companies stopped giving guidance and analysts guessed really really low. This was done precisely to guarantee a beat or make an official miss impossible.
A top European Union politician slammed US plans to spend its way out of recession as "a way to hell." The Czech Prime Minister told the European Parliament that President Obama's massive stimulus package and banking bailout "will
China’s central bank on Monday proposed replacing the US dollar as the international reserve currency with a new global system controlled by the International Monetary Fund. (Federal Reserve... IMF. And the difference is?....)
Police are preparing for a "summer of rage" as victims of the economic downturn take to the streets to demonstrate against financial institutions, the Guardian has learned.
[choice quotes] "Our economies are so intertwined, the Chinese know that to start exporting again to their biggest market, namely the United States, ... we have to incur more debt."
Up to 120,000 protesters brought Dublin city centre to a standstill on Saturday over government austerity measures aimed at stabilising the once high-flying economy now wracked by recession.
The banking system of Europe is at the edge of the abyss. A brief story by The Telegraph revealed this last week. The original was almost immediately deleted. A new version was substituted. (IMPORTANT READING)
Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.
For the past two years, Asians and Europeans have tended to view their own financial and economic problems as largely imported from the United States. The impacts on their own economies, they reasoned smugly, would be modest and short-lived. Turns
The Chinese are doing everything and then some that I had hoped that they would do. This is more than I can say for the USA. They are taking this global economic interlude to shift purchasing power internally to maximize internal economic growth at a
Switzerland, like Iceland, is threatened with a potential national bankruptcy. One consequence would be that the Swiss currency could fall massively in value — possibly even crash.
The German cabinet approved a law letting it nationalize banks, setting aside a reluctance to seize private property in the latest government intervention worldwide to tackle the financial crisis.
It is clearly Ireland that is now in the eye of the storm as Dublin struggles to prevent the budget deficit spiralling up to 12pc or even 13pc of GDP as the economy contracts. Fears are mounting that Ireland may not be able to cover the massive liabi
Asian stocks dropped for a third day, driving Japan’s Topix index toward the lowest close in 25 years, as the deepening global recession hurts corporate earnings and demand for commodities.
“We’re nearing the level were things could get out of hand,” said Hans Redeker, currency chief strategist at BNP Paribas.
Folks, if this translates into Eastern Europe where there are severe instabilities already brewing literally everything in the financial world could come apart "all at once."
A meltdown possibility in US banks, UK banks, and Eurozone banks as the entire global banking system is insolvent. Conceivably a framework for a new transatlantic or even global currency could come out of such a meltdown.
"This is the worst ever crisis in the post-war era. There is no doubt about it," Economic and Fiscal Policy Minister Kaoru Yosano said, warning that a rebound is impossible before the global economy improves.
