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Tag Archives: european union
Interventionism Kills: Post-Coup Ukraine One Year Later
Interventionism Kills: Post-Coup Ukraine One Year Later It was one year ago last weekend that a violent coup overthrew the legally elected government of Ukraine. That coup was not only supported by US and EU governments — much of it was actually planned by them. Looking back at the events that led to the overthrow […]
Is The EU Finally Breaking Free Of Russia’s Energy Grip?
Is The EU Finally Breaking Free Of Russia’s Energy Grip? Gazprom’s dominance over European energy supplies may be beginning to slip. The collapse of oil prices has punished Gazprom’s revenues, but in a new development that is further damaging to the Russian state-owned company, the European Union is also beginning to shake itself of Russian […]
Prominent French Journalist Calls For France-Germany-Russia Alliance
Prominent French Journalist Calls For France-Germany-Russia Alliance With the Ukraine civil war – courtesy of the constant prodding of the US State Department – inching ever closer to an all out military confrontation with Russia, and further escalation in terms of western sanctions on the Kremlin, as well as even more acute countermeasures and retaliation […]
Throw Your Grandma Under The Bus
Throw Your Grandma Under The Bus Before we get news in a few hours on the new proposals Greece is required to hand to its slavemasters today, Monday Feb 23, it seems relevant to point out one more time that what is happening to Greece is the result of political, not economic, decisions and points […]
50 Shades of Greece
50 Shades of Greece When it comes to the ongoing Greek question, I see a lot of people eagerly jump to conclusions, after the ‘debt deal’, that I don’t think are justified; certainly not yet. The overall conviction in the press seems to be that Syriza has given in on just about all fronts, and […]
Greek Deposit Run Accelerates Ahead Of Monday’s Bank Holiday
Greek Deposit Run Accelerates Ahead Of Monday’s Bank Holiday Official Greek deposit data began tumbling in December (outflows around EUR3bn), and accelerated in January in the run up to the Syriza election (proxied by JPMorgan at over EUR 12bn). During the last two weeks, however, the absence of ATM lines and visible bank runs has been […]
How Germany Is Blowing Up The European Union
How Germany Is Blowing Up The European Union As Germany is set to reject a Greek loan extension request (and no, international press, that is not the same as an extension of the bailout program), Steve Keen uses proprietary numbers issued by the OECD – which is supposed to be on Germany’s side?! – to […]
How Many More “Saves” Are Left in the Central Bank Bazookas?
How Many More “Saves” Are Left in the Central Bank Bazookas? Very few, it seems The master narrative of the global economy shifted six years ago from “China will push global growth for decades to come” to “the central banks can push global growth for decades to come.” Time after time we’ve witnessed enfeebled global […]
Game theory and the king’s new clothes
Game theory and the king’s new clothes I’ll admit to being a bit obsessed with Syriza and the Eurozone at the moment (here and here): it is by some way the most interesting development at the moment in both politics and economics. And I’m also interested in the idea that Yanis Varoufakis’ background teaching game theory might have […]
The Catastrophic Costs of Extend-and-Pretend Are About to Crush Europe
The Catastrophic Costs of Extend-and-Pretend Are About to Crush Europe Like a star which has expanded and now cannot maintain its grand state, Europe’s extend-and-pretend economy is now poised to experience a supernova implosion. The costs of ill-conceived policies are always paid by someone–usually those with the least political power. In ill-conceived wars, the costs are […]
Failed Discipline, Failed Reforms and Grexit: Why the Euro Failed
Failed Discipline, Failed Reforms and Grexit: Why the Euro Failed There is no substitute for the discipline of a market that cannot be manipulated by political elites. It’s not that difficult to understand why the euro is doomed to fail. Given its structure, there is no other possible outcome but failure. Greece’s exit (Grexit) will simply […]
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 […]
Greece and Euroland’s Crumbling McMansion of Debt
Greece and Euroland’s Crumbling McMansion of Debt All the gimmicks lenders press on borrowers to maintain the artifice that the loan is being serviced are financial frauds. Sometimes the best way to summarize a complex situation is with an analogy. The Greek debt crisis, for example, is very much like the subprime mortgage crisis of 2007-08. […]
Bilderberg – Part 10
Bilderberg – Part 10 I previously examined the functions of the Bilderberg meetings; the composition and concentration of financial markets and the Mafiocracy that rules them; the nature of technocracy, and the role of finance ministers, central banks and the IMF in managing the European debt crisis. This installment takes a closer look at the […]
