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Pray For Graccident—–It Will Trigger The Demise Of The ECB And The World’s Toxic Regime Of Keynesian Central Banking
Pray For Graccident—–It Will Trigger The Demise Of The ECB And The World’s Toxic Regime Of Keynesian Central Banking It is not surprising that in a few short months Yanis Varoufakis has proven himself to be a thoroughgoing Keynesian statist. After all, what would you expect from an economics PhD who co-authored books with Jamie Galbraith? […]
Grexit “Disaster” Looms As Greek Hospitals Run Out Of Sheets, Painkillers
Grexit “Disaster” Looms As Greek Hospitals Run Out Of Sheets, Painkillers The default countdown is about to go under 10 days and it is becoming increasingly apparent that both Greece and its creditors have had enough. Months of tense negotiations have gone nowhere and yielded exactly nothing and it now looks like PM Alexis Tsipras […]
Why Not Tell Greece How To Run A Democracy?
Why Not Tell Greece How To Run A Democracy? I know I’ve talked about this before, but it just keeps coming and it keeps being crzay.Bloomberg ‘reports’ that the ‘German Finance Ministry’, let me get this right, “is supporting the idea of a vote by Greek citizens to either accept the economic reforms being sought by […]
The Greek People Just Destroyed Syriza’s Strategy
The Greek People Just Destroyed Syriza’s Strategy Greek stocks ventured deeper into purgatory. The ASE index dove below 700 intraday on Wednesday for the first time since the crisis days of June 2012. Then word spread that the ECB had raised the cap on the Emergency Liquidity Assistance for Greek banks by €1.5 billion to […]
The Weak Suffer What They Must: Yanis and the End of Europe
The Weak Suffer What They Must: Yanis and the End of Europe From southern Europe to the far north, matters are shifting, sometimes slowly, sometimes faster. There are moments when it seems all that goes on is the negotiations over the Greek dire financial situation and its bailout conditions, but even there nothing stands still. […]
Steve Keen: The Deliberate Blindness Of Our Central Planners
Steve Keen: The Deliberate Blindness Of Our Central Planners Choosing to ignore the largest risks The models we use for decision making determine the outcomes we experience. So, if our models are faulty or flawed, we make bad decisions and suffer bad outcomes. Professor, author and deflationist Steve Keen joins us this week to discuss […]
There’s Brussels And Then There’s Real People
There’s Brussels And Then There’s Real People Once again, a look at Greece and the Troika, because it amuses me, it angers me, and also because it warms my cockles, in an entirely metaphorical sort of way. The Troika members love to make it appear (and everyone swallows it whole) as if in their ‘negotiations’ […]
YANIS VAROUFAKIS: THE STRAW THAT BREAKS THE PONZI’S BACK?
YANIS VAROUFAKIS: THE STRAW THAT BREAKS THE PONZI’S BACK? What do you do when your opponent won’t play by the rules? Worse, what do you do when your loan ‘partner’ (aka ‘debtor’) declares Calvinball, where the only rule is there are no rules, and proceeds to go off the deep end? The result, to put it […]
Memo To Obama: Butt Out Of The Greek Crisis—-You’ve Dispensed Enough Keynesian Poison At Home
Memo To Obama: Butt Out Of The Greek Crisis—-You’ve Dispensed Enough Keynesian Poison At Home At the moment, Europe is struggling to pass an inflamed financial gallstone. The sooner that Greece is permitted to escape the debt clogged financial ducts fashioned by its Brussels paymasters, the sooner the entirety of Europe can begin the cure of […]
Behind The Global – Game Of – Thrones
Behind The Global – Game Of – Thrones Greek PM Alexis Tsipras yesterday laid out Syriza’s stance, and from what I saw he didn’t pull even one punch. Despite all the suggestions from the financial press throughout the past week that Tsipras and Varoufakis reneged on campaign promises to seek debt write-downs, they didn’t, and […]
Why the Beautiful New Greek Government Is Screwed
Why the Beautiful New Greek Government Is Screwed Greek Prime Minister Alexis Tsipras and Finance Minister Yanis Varoufakis, often in a good-cop-bad-cop manner, have been cruising through the media, lobbing a mix of admirable rhetoric, verbal hand grenades, and down-to-earth explanations. And they have become white-hot media darlings. So Varoufakis was in Germany to meet […]
Greece Exposes The Global Economy’s Achilles Heel
Greece Exposes The Global Economy’s Achilles Heel Countries that can’t repay their debts — won’t The new Greek political party, known as Syriza, the Coalition of the Radical Left, has done the unthinkable: they’ve dared to speak the truth. In this case, the truth is perfectly captured by the blunt assessment by the new Greek […]
Have A Little Faith In Blotto
Have A Little Faith In Blotto What, Greece again? Sorry!! But I see a lot of things flash by that make me want to say something. Today it’s the alleged 180 that Syriza made on debt reduction, before that it was their alleged kow-towing to Brussels on Russia sanctions, and tomorrow it’ll be something else […]
Europe Fractures: France “Prepared To Support Greece” In Debt Renegotiations
Europe Fractures: France “Prepared To Support Greece” In Debt Renegotiations Despite Angela Merkel’s insistence on numerous occasions this past week that there will be “no debt renegotiations,” it appears a schism at the core of Europe is opening. As France24 reports,following a meeting between France’s finance minister Michel Sapin and Greece’s finance minister Yanis Varoufakis, the […]
ECB Threatens Athens With Bank Funding Cutoff If No Deal In One Month: February 28 Is Now D-Day For Greece
ECB Threatens Athens With Bank Funding Cutoff If No Deal In One Month: February 28 Is Now D-Day For Greece As Deutsche Bank’s George Saravelos politely puts it, “Developments since the Greek election on Sunday have moved very fast.” And indeed, so far the new Tsipras cabinet, and here we focus on the words and […]
