Oil-rich nations are bedeviled by the Resource Curse.
Today's Chart of the Day comes by way of SocGen's Albert Edwards who in one image shows why, with gross debt issuance needs between budget funding and rolling maturities at 60% of GDP, Japan has no choice but "to print and print and print"
The Troika-Greece Can-Kicking Toxic Loop
When the crash came, however, Iceland’s deposit guarantee proved worthless, forcing the UK and the Netherlands to use their own taxpayer funds to compensate ordinary savers and sparking a poisonous diplomatic row.
The evidence suggests that Europe's austerians did a terrible thing, ruining the lives of millions. They will never admit it; they will seize on anything that gives them an out.
In the Very Large aircraft market, dominated by the A380, there is a requirement for 1,334 passenger aircraft valued at US$519 billion. Of these, 47 per cent will be needed in the Asia-Pacific region, followed by the Middle East (26 per cent) and the
Marine Le Pen aims to set up radical, anti-Europe faction in the European parliament with help of Geert Wilders, the Dutch MP
“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.”
At Oath Keepers we have been discussing for years the probability that an economic collapse would take place in the near term, and that this economic collapse would open doors for the establishment to assert authoritarian measures supplanting the civ
Mr. Provopoulos faces an investigation into whether he abused his position by clearing a banking deal involving his former employer and a business magnate who was subsequently charged with embezzlement and fraud.
Mike Maloney's Hidden Secrets of Money Ep. 4 has Landed! The Biggest Scam In The History Of Mankind (Debt Ceiling Truth)
Why the whole banking system is a scam - Godfrey Bloom MEP
Beijing Calls for Creation of New “Reserve Currency” to Replace the U.S. Dollar
It's the biggest find in 50 years and the media is completely ignoring it...
Another of history’s many lessons is that governments under pressure become thieves. And today’s governments are under a lot of pressure.
In his weekly "Sunday Start" note to clients, Morgan Stanley chief economist Joachim Fels says "the mood among the officials and investors mingling at the IMF/World Bank Annual Meetings in Washington, D.C. [this week] mirrored the grim weather."
Chinese government mouthpiece says 'Pax Americana' has failed on all fronts
In what world is it rational to decide that dumping 800,000 ounces of notional gold into the London Fix (or COMEX open) makes sense?
The Shanghai Composite fell 1% on Thursday, with Chinese brokerages taking the biggest hit.
For the community in the Persian Gulf states, see Huwala.
It’s always sunny in Spain, right? That might be a bit of an overstatement but the country hasn’t garnered a sunny reputation for nothing: cities like Huelva and Seville boast nearly 3,000 hours of sunshine per year.
A U.S. debt default that lasts for more than a couple of days could potentially cause a financial crash unlike anything that the world has ever seen before.
After years of being caught in the geopolitical crossfire over Iran's disputed nuclear program, Iranian businessmen in Dubai are daring to hope that signs of a diplomatic thaw will allow crippling economic sanctions to be lifted.
12 Very Ominous Warnings About What A U.S. Debt Default Would Mean For The Global Economy
At the G-20 summit in St. Petersburg the discussion of U.S. aggression against Syria overshadowed the economic issues.
While the world's largest hedge fund, the Fed, may not care about the performance of its "bad bank" assets, and thus is largely ambivalent if the US Treasury defaults on the $2 trillion in US paper held by Ben Bernanke, others don't have the luxury o
While many other politicians in Iceland had urged a policy of appeasing the enraged British and Dutch governments, Gunnlaugsson had insisted they should go hang. “Icelanders, as descendants of the Vikings, are highly individualistic
The government shutdown may instil short-term volatility in the global financial market, but so far, the markets haven’t roared in reaction to the political deadlock in the world’s biggest economy.
Hordes of bankrupt French invade Switzerland to get their hands on their “stolen” money — such is the imaginary scenario cooked up by the Swiss military in simulations revealed over the weekend.
Karen Hudes is a graduate of Yale Law School and she worked in the legal department of the World Bank for more than 20 years. In fact, when she was fired for blowing the whistle on corruption inside the World Bank, she held the position of Senior Co