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It Begins: Desperate Finland Set To Unleash Helicopter Money Drop To All Citizens
It Begins: Desperate Finland Set To Unleash Helicopter Money Drop To All Citizens With Citi’s chief economist proclaiming “only helicopter money can save the world now,”and the Bank of England pre-empting paradropping money concerns, it appears that Australia’s largest investment bank’s forecast that money-drops were 12-18 months away was too conservative. Over the last few months, in a prime […]
Puerto Rico Is About To Default: Your Complete Guide To An Island Debt Debacle
Puerto Rico Is About To Default: Your Complete Guide To An Island Debt Debacle Last week, we brought you the latest from Puerto Rico’s debt debacle. The commonwealth is desperately trying to restructure some $72 billion in debt while staring down a $354 million bond payment due on December 1. As we discussed at length on Friday, […]
50 Ways to Leave the Euro: Greece and the Global Crisis
50 Ways to Leave the Euro: Greece and the Global Crisis A sticker reads “No” on the palm of a protester during a demonstration calling for a ‘No’ vote in the upcoming referendum in Athens on Jul 3, 2015. (Photo: AFP/Aris Messinis) The problem is all inside your head, I told the Greeks The answer is […]
“Social Explosion” Begins In Greece As Massive Street Protests Bring Economy To A Fresh Halt
“Social Explosion” Begins In Greece As Massive Street Protests Bring Economy To A Fresh Halt One thing that became abundantly clear after Alexis Tsipras sold out the Greek referendum “no” back in the summer after a weekend of “mental waterboarding” in Brussels was that the public’s perception of the once “revolutionary” leader would never be […]
Merkel Must Call Highest Level UN Emergency Summit Over Refugees
Merkel Must Call Highest Level UN Emergency Summit Over Refugees German Chancellor Angela Merkel needs to do something, urgently, that should have been done months- if not more- ago. There has to be a UN emergency summit on the European refugee crisis, it has to involve leaders at the very highest levels, and it has […]
Venezuela Default Countdown Begins: After Selling Billions In Gold, Caracas Raids $467 Million In IMF Reserves
Venezuela Default Countdown Begins: After Selling Billions In Gold, Caracas Raids $467 Million In IMF Reserves In late October, when describing Venezuela’s desperate steps to keep itself afloat for a few more months, we reported that in order to fund $3.5 billion bond payments in early November, Maduro’s government had engaged in something that is the very […]
2.1 Million Greeks Face Blackout As Public Power Company Unpaid Bills Soars
2.1 Million Greeks Face Blackout As Public Power Company Unpaid Bills Soars Greece’s Public Power Company is angry. The amount of unpaid bills by its customers has reached the astronomic EUR 2.5 billion. The PPC is so angry that it plans to cut the power to those without outstanding debts as soon as possible – a whopping […]
Vladimir Putin Speaks Honestly
Vladimir Putin Speaks Honestly Russia’s president is a refreshing contrast to the liars who inhabit Western governments and Western media. The agenda of the Russian government is peace and international cooperation under the rule of law. Washington’s agenda is hegemony. President Putin endeavors to lead the world to peace, while the neoconservatives who control Washington’s […]
First Sovereign Debt Default 4th Century BC
First Sovereign Debt Default 4th Century BC QUESTION: Mr. Armstrong; I read this time its different by Rogoff. While it is interesting about sovereign defaults, he clearly does not go back into ancient times or more than a few hundred years. If anyone would know when the first such default took place it must be you. […]
Schäuble’s Gathering Storm
Schäuble’s Gathering Storm Europe’s crisis is poised to enter its most dangerous phase. After forcing Greece to accept another “extend-and-pretend” bailout agreement, fresh battle lines are being drawn. And, with the refugee influx exposing the damage caused by divergent economic prospects and sky-high youth unemployment in Europe’s periphery, the ramifications are ominous, as recent statements […]
Treasury Warns Of “Humanitarian Crisis” In Puerto Rico If Congress Does Not Agree To Bailout
Treasury Warns Of “Humanitarian Crisis” In Puerto Rico If Congress Does Not Agree To Bailout “Puerto Rico is not Greece“… but it increasingly looks like it will be in a few weeks, thanks to US taxpayers who are about to foot the bill for yet another creditor bailout. As we reported last night, creditors of the […]
Visualizing The Demise Of The Once Mighty Euro
Visualizing The Demise Of The Once Mighty Euro The European Union has always been primarily a political project. The idea of the union was to take peoples that had long and complicated histories, and to place them in a situation where they must work together and shed their differences in order to achieve success. From the […]
