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SoT #41 – Wolf Richter: How Will The Global Asset Bubbles Unfold?
SoT #41 – Wolf Richter: How Will The Global Asset Bubbles Unfold? Stock bubble, credit market bubbles and housing market bubbles. Unfettered money printing by Central Banks globally have created massive bubbles of unprecedented proportions across all asset classes. Once Government and the Central Banks lose the power to stop markets from going down, you’ll […]
Why Grexit is the most likely outcome
Why Grexit is the most likely outcome Ahead of Greece’s referendum on a bailout plan in early July, EU decision makers, including Eurogroup Chairman Jeroen Dijsselbloem, warned a “no” vote might lead to Greece’s exit from the Euro. After Greece’s overwhelming “no”, and Eurozone leaders’ latest ultimatums, there are a number of factors that indicate […]
U.S. Wealth-Concentration: The Most-Accurate Current Estimates
U.S. Wealth-Concentration: The Most-Accurate Current Estimates CURRENT REALITIES: Wealthiest Tenth (10%) of Americans Own 75% of America; They Draw 40% of All U.S. Income. Wealthiest Hundredth (1%) of Americans Own 43% of America; They Draw 20% of All U.S. Income. Wealthiest Thousandth (0.1%) of Americans Own 22% of America; They Draw 8% of All U.S. Income. Wealthiest Ten-Thousandth (0.01%) Own 11.2% of […]
Greece Didn’t Refuse Austerity: They Refused Further Debt Slavery to the EU
Greece Didn’t Refuse Austerity: They Refused Further Debt Slavery to the EU Did you hear the news? “Greece Says No to Further Austerity Measures!” Did you shake your head and say, “Wow, the nerve of those people refusing to cut their expenses in the face of all that debt”? I’m no financial expert, but I […]
Greece Fallout: Italy and Spain Have Funded a Massive Backdoor Bailout of French Banks
Greece Fallout: Italy and Spain Have Funded a Massive Backdoor Bailout of French Banks In March 2010, two months before the announcement of the first Greek bailout, European banks had €134 billion worth ofclaims on Greece. French banks, as shown in the right-hand figure above, had by far the largest exposure: €52 billion – this was 1.6 […]
In A World Of Artificial Liquidity – Cash Is King
In A World Of Artificial Liquidity – Cash Is King And you’d better have some stashed out of the system Global central banks are afraid. Before Greece tried to stand up to the Troika, they were merely worried. Now it’s clear that no matter what they tell themselves and the world about the necessity or […]
An Economic Hit Man Speaks Out: John Perkins on How Greece Has Fallen Victim to “Economic Hit Men”
An Economic Hit Man Speaks Out: John Perkins on How Greece Has Fallen Victim to “Economic Hit Men” John Perkins, author of Confessions of an Economic Hit Man, discusses how Greece and other eurozone countries have become the new victims of “economic hit men.” John Perkins is no stranger to making confessions. His well-known book,Confessions of […]
With Sweden’s QE Officially Broken, The Riksbank Doubles Down: Lowers Rates Even More Negative; Boosts QE
With Sweden’s QE Officially Broken, The Riksbank Doubles Down: Lowers Rates Even More Negative; Boosts QE It was precisely one week ago when we described how, for the first time in history, QE had officially failed to achieve its stated objective of pushing yields lower (ignoring that the real purpose is to push stock prices higher). In […]
Why Greeks Still Want to Keep the Euro, in One Chart
Why Greeks Still Want to Keep the Euro, in One Chart As of midnight European time, Greece has become the first developed country in history to fall into arrears on payments to the IMF. It’s not that much money, by today’s standards: €1.6 billion. But for Greece, which is totally out of money, it’s an […]
Capitalism Has Devolved Into Looting
Capitalism Has Devolved Into Looting In the Western World Capitalism Has Devolved Into Looting …when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you–when you see corruption being rewarded and honesty becoming a self-sacrifice–you may know that […]
Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open
Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open While things have normalized since the open thanks entirely to the SNB’s aggressive EUR-buying, CHF-selling intervention (good to see that central banks have read the BIS’ report and have learned from their prior intervention mistakes), earlier this morning we got a snapshot of what […]
Collapsing CDS Market Will Lead To Global Bond Market Margin Call
Collapsing CDS Market Will Lead To Global Bond Market Margin Call As Zero Hedge previously noted, liquidity is there when you don’t need it, and it promptly disappears once it is in demand. Consider it “cocktease capitalism.” If liquidity lasts longer than 4 hours, call the CFTC because you may be experiencing a spoof. Right now, the ultimate spoof […]
The Test Of Central Bank Omnipotence May Be Upon Us.
The Test Of Central Bank Omnipotence May Be Upon Us. Suddenly what was discounted as a potential “isolated event” has come full circle to show just how contagious it may very well be. e.g., Greece. Over the last few months the financial media has not only turned deaf ears to the drama, (out of boredom) they […]
History in Free Verse
History in Free Verse History might not rhyme, exactly, but it’s not bad for free verse. Greece is this century’s Serbia — a tiny, picturesque backwater nation blundering haplessly into the center stage of geopolitics. And the European Union is, whaddaya know, Germany in drag, on financial steroids. Nobody knows what will happen next in […]
