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Europe’s Economic Death Spiral
Europe’s Economic Death Spiral QUESTION: Mr. Armstrong, you said when you were here in Berlin that the EU Commission is about as incompetent as the US Congress. You also said Macron is trying to federalize Europe as the solution Could you elaborate on that comment? ANSWER: The EU Commission at present is composed of 28 Commissioners, […]
The European Union Is Doomed to Fail
The European Union Is Doomed to Fail How on earth can the European Union unite that which history forced asunder? Have you ever heard of Deutsch Jahrndorf? No? I don’t blame you. The tiny Austrian village, which is situated four miles from the Danube, is utterly unremarkable, except for the fact that it sits on […]
Spain’s Crisis is Europe’s Opportunity
Jorge Guerrero/Getty Images Spain’s Crisis is Europe’s Opportunity The Catalonia crisis is a strong hint from history that Europe needs to develop a new type of sovereignty, one that strengthens cities and regions, dissolves national particularism, and upholds democratic norms. Imagining a pan-European democracy is the prerequisite for imagining a Europe worth saving. ATHENS – […]
The Pension Storm Is Coming To Europe—It May Be The End Of Europe As We Know It
The Pension Storm Is Coming To Europe—It May Be The End Of Europe As We Know It I’ve written a lot about US public pension funds lately. Many of them are underfunded and will never be able to pay workers the promised benefits—at least without dumping a huge and unwelcome bill on taxpayers. And since […]
The Catalan Chain Reaction
The Catalan Chain Reaction Catalonia’s drive for “independence” has unleashed a chain reaction of viral social media support that’s frighteningly resurrected civil war-era rhetoric, but the most dangerous consequences of this domino effect are yet to come if the separatists are ultimately successful in their quest. The Nostalgia Narrative The Catalan “independence” cause has taken […]
The Pricing of Risk is Kaput
The Pricing of Risk is Kaput US Treasury Yield v. Euro “Junk Bond” Yield. A new record in central-bank engineered absurdity. US Treasury Securities with longer maturities fell this morning, with the 10-year Treasury yield rising above 2.37% early on and currently trading at 2.34%. This is still low by historical standards, and it’s still in […]
Radical Appeal for More EU Stupidity
Radical Appeal for More EU Stupidity The rise of far-right and far-left parties across Europe is directly related to calls for “more Europe”. Yet, French president Emmanuel Macron makes a Radical Appeal for a More Powerful EU. Bold Actions Macron seeks “bold” actions. He wants an EU “military intervention force”, a common budget, carbon taxes, […]
Bill Blain: “Oil Could Change Everything”
Bill Blain: “Oil Could Change Everything” Blain’s Morning Porridge: A Short Distraction In The Oil Market Did I detect a distinct change in the market wind yesterday? There is a new freshening blow out the East. It feels like the world is changing: a slide in tech stocks and a wobble in sentiment, stronger oil […]
European Banking Crisis
European Banking Crisis Perhaps this period will be looked back upon ass the Draghi Deflation. After nearly 10 years of this failed policy, the European banking industry is contracting on every possible level. The merger of Commerzbank to Merge with French BNP is one possibility. Commerzbank is a takeover candidate or shotgun wedding candidate, for good reasons. Its […]
Actions of A Bully Child or Dying Empire: Sanctions and Threats
Actions of A Bully Child or Dying Empire: Sanctions and Threats As the Western world continues to slide into the dust bin of history, it is not going without a fight. As with any “wounded animal”, once the reality of pain permeates the body, it typically lashes out at anything or anyone within arms’ […]
Turkey Faces Threats for Inking Landmark Arms Deal with Russia
Turkey Faces Threats for Inking Landmark Arms Deal with Russia The long awaited deal has taken place. A deposit has already been paid. Turkey has finally signed the $2.5bn (£1.9bn) contract with Russia to buy S-400 advanced missile defense system. With a range of 400 kilometers (248 miles), the system can shoot down up to […]
The Only Real Europe is Greece
The Only Real Europe is Greece Eugene Delacroix Greece expiring on the Ruins of Missolonghi 1826European Commission president Jean-Claude Juncker, famous for his imbibition capacity and uttering -not necessarily in that order- the legendary words “when it becomes serious, you have to lie”, presented his State of the Union today. Which is of pretty much […]
“We’re Now Seeing Bubbles Everywhere” – Deutsche Bank Boss Urges End To “Era Of Cheap Money”
“We’re Now Seeing Bubbles Everywhere” – Deutsche Bank Boss Urges End To “Era Of Cheap Money” The head of Germany’s largest commercial bank warned of the fallout from cheap money, cautioning against using the strong euro as a justification for printing more. Bloomberg reports that the Deutsche Bank Chief Executive Officer John Cryan called for an end to […]
Catalan Bid for Independence Seen in Broader Context of European Disintegration
Catalan Bid for Independence Seen in Broader Context of European Disintegration Catalonia’s secession movement has been growing in Spain for decades. The region has its own language and culture. On August 28, two pro-independence parties in Catalonia, the Junts Pel Sí («Together For Yes») coalition and the radical-left Popular Unity Candidacy (CUP), submitted a bill […]
