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Why The Dollar Is Rising As The Global Monetary Bubble Craters
Why The Dollar Is Rising As The Global Monetary Bubble Craters Contra Corner is not about investment advice, but its unstinting critique of the current malignant monetary regime does not merely imply that the Wall Street casino is a dangerous place for your money. No, it screams get out of harms’ way. Now! Yet I am […]
Europe Has A Modest Proposal For Greece: “Don’t Pay Wages For One Or Two Months”
Europe Has A Modest Proposal For Greece: “Don’t Pay Wages For One Or Two Months” The Greek liquidity, pardon “cash flow” problems are so bad, not only Zero Hedge, but also Bloomberg has launched a daily maturity tracker of how much money Greece has to pay either to the IMF or to prefund T-Bill rollovers. This […]
The ECB’s Noose Around Greece: How Central Banks Harness Governments
The ECB’s Noose Around Greece: How Central Banks Harness Governments Remember when the infamous Goldman Sachs delivered a thinly-veiled threat to the Greek Parliament in December, warning them to elect a pro-austerity prime minister or risk having central bank liquidity cut off to their banks? (See January 6th post here.) It seems the European Central Bank (headed by Mario […]
Thomas Piketty on the Euro Zone: ‘We Have Created a Monster’
Thomas Piketty on the Euro Zone: ‘We Have Created a Monster’ SPIEGEL: You publicly rejoiced over Alexis Tsipras’ election victory in Greece. What do you think the chances are that the European Union and Athens will agree on a path to resolve the crisis? Piketty: The way Europe behaved in the crisis was nothing short of disastrous. Five years ago, […]
A Black Swan Lands In Southern Austria: The Ripple Effects Of “Mini-Greece Going Off In The Heartland Of Europe”
A Black Swan Lands In Southern Austria: The Ripple Effects Of “Mini-Greece Going Off In The Heartland Of Europe” By far the most notable news of the past week, which has still gone largely unnoticed by the greater investing community whose focus instead was on whether algos would ramp the Nasdaq to 5000, and keep the S&P […]
SPIEGEL Interview with Greek Prime Minister Tsipras: ‘We Don’t Want to Go on Borrowing Forever’
SPIEGEL Interview with Greek Prime Minister Tsipras: ‘We Don’t Want to Go on Borrowing Forever’ Alex Tsipras seems almost inconspicuous as he stands in his enormous office in Athens’ Maximos Mansion, and very relaxed. Greece’s new, 43-year-old leftist prime minister, a thorn in the side of German leaders in Berlin, has a soft handshake. On the […]
Revanchism and russophobia: the dark undercurrents of the war in the Ukraine
Revanchism and russophobia: the dark undercurrents of the war in the Ukraine The situation in the Ukraine is more or less calm right now, and this might be the time to step back from the flow of daily reports and look at the deeper, underlying currents. The question I want to raise today is one […]
Victoria Nuland’s Lies Make War Inevitable
Victoria Nuland’s Lies Make War Inevitable Washington’s politics has sunk to the bottom of the cesspool. An Assistant Secretary of State can now appear in testimony before the US Congress and lie endlessly without being held to account. Congress has abjured its responsibility. Nuland’s lies are the kind that lead to war. Unless a meteorite […]
Is the IMF About to Make Greece an Offer It Can’t Refuse?
Is the IMF About to Make Greece an Offer It Can’t Refuse? “The bailout programs that were proposed for Greece and approved for Greece were much too one-sided. They relied too much on sacrifices on the part of Greece and not enough sacrifices on the part of Greece’s creditors.” These words belong to a Brazilian economist called Paulo Nogueira Batista Jr. who […]
Europe, The Morally Bankrupt Union
Europe, The Morally Bankrupt Union The European Union is busy accomplishing something truly extraordinary: it is fast becoming such a spectacular failure that people don’t even recognize it as one. People have no idea, they just think: this can’t possibly be true, and they continue with their day. They should think again. Because the Grand […]
Europe Blocks U.S. from Racing to War Against Russia
Europe Blocks U.S. from Racing to War Against Russia On Friday, 6 March, President Obama placed temporarily on ice his planned increase in weapons and soldiers to help the Ukrainian Government to ‘defend’ Ukraine against the ‘terrorists’ in Donbass, which is the Ukrainian region that had voted 90% for the President whom the Obama Administration overthrew in February 2014. (Here is where the […]
Bill Gross Interview: ZIRP Causes Too Much Debt, Too Many Zombies, Not Much Trickle-Down, Busted Pensions
Bill Gross Interview: ZIRP Causes Too Much Debt, Too Many Zombies, Not Much Trickle-Down, Busted Pensions In an Bloomberg Television interview Bill Gross of Janus Capital spoke with Bloomberg Television’s Trish Regan about the outlook for Federal Reserve policy, the U.S. economy and his objectives at Janus Capital. Key Quotes “Not even thin gruel is […]
China Just Sided With Russia Over The Ukraine Conflict
China Just Sided With Russia Over The Ukraine Conflict When it comes to the Ukraine proxy war, which started in earnest just about one year ago with the violent coup that overthrew then president Yanukovich and replaced him with a local pro-US oligarch, there has been no ambiguity who the key actors were: on the […]
Is the US Overplaying Its Energy Hand?
Is the US Overplaying Its Energy Hand? In the grand poker game of geopolitics, energy is often the wild card. That’s why the Middle East is such a mess: Great Powers (first Britain, more recently the United States) have been installing, propping up, toppling, threatening, or bribing regimes in that region — almost always to […]
Russia Is Not Bluffing With Turkish Stream Project
Russia Is Not Bluffing With Turkish Stream Project During his visit to Ankara in December 2014, Vladimir Putin announced that South Stream—a large pipeline that would have carried Europe-bound Russian gas under the Black Sea and across Southeastern Europe—had been terminated. A major reason for South Stream’s cancellation was attributed to the exit from the […]
