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The Number One Lesson From Athens
The Number One Lesson From Athens There’s arguably nothing that’s been more hurtful -in more ways than one- to Greece and its Syriza government over the past six months, than the lack of support from the rest of Europe. And it’s not just the complete lack of support from other governments -that might have been […]
UBS’s Puerto Rico Bond Funds Implode, “Collateral Value” Drops to Zero, Investors Screwed
UBS’s Puerto Rico Bond Funds Implode, “Collateral Value” Drops to Zero, Investors Screwed “We believe that the probability of default is approaching 100 percent, and that losses given default are substantial,” Moody’s wrote on Wednesday about Puerto Rico’s $72 billion in bonds that were stuffed into numerous conservative-sounding bond funds spread across America’s retirement portfolios. […]
Will the Oil Patch Bust Trigger Recession?
Will the Oil Patch Bust Trigger Recession? This seemingly inexhaustible credit line is now drying up, with severely negative consequences for oil producers with debt that’s coming due. Could the oil patch bust triggered by oil plummeting from $100/barrel to $50/barrel kick the U.S. into recession? Longtime correspondent B.C. recently observed: The question is whether the incipient […]
It’s Happening: Debt Is Tearing up the Fracking Revolution
It’s Happening: Debt Is Tearing up the Fracking Revolution The shares of Chesapeake Energy, second largest natural-gas driller in the US, crashed nearly 10% today, to $9.29, the lowest price since August 2003, down nearly 70% since oil began to plunge a year ago. The company’s $1.1 billion of 5.75% notes fell to an all-time low […]
“Something Revolutionary Is In The Air”: Grexit By “Insurrection” Is The “Most Probable” Outcome
“Something Revolutionary Is In The Air”: Grexit By “Insurrection” Is The “Most Probable” Outcome A week ago, we said the following about the situation faced by Greek PM Alexis Tsipras when he and his new finance minister arrived in Brussels for the final round of bailout negotiations earlier this month: …the entire world looked on in horror […]
42 Billion Reasons Why Putin’s Time May Be Running Out
42 Billion Reasons Why Putin’s Time May Be Running Out Russian municipal bond risk is surging once again (at 6-week highs) heading towards crisis-levels asBloomberg reports numerous regions (including Chukotka – across from Alaska, Belgorod -near Ukraine, and three North Caucus republics) are prompting concerns as debt-to-revenue levels top 100% (144% in the case of Chukotka). Risk is on the rise […]
Debt Crisis Central: Let’s Not Forget About America
Debt Crisis Central: Let’s Not Forget About America As the situation in Puerto Rico has recently revealed, Greece is not alone. The world is filled with debt laden nations, many of which may never be able to pay down their liabilities. All told, the world is $200 trillion in debt, of which $57 trillion was accumulated in the past […]
The President Of France Wants Eurozone Members To Transfer Their Sovereignty To A United States Of Europe
The President Of France Wants Eurozone Members To Transfer Their Sovereignty To A United States Of Europe The President of France has come up with a very creative way of solving the European debt crisis. On Sunday, a piece authored by French President Francois Hollande suggested that the ultimate solution to the problems currently plaguing […]
Portugal’s Debts Are (Also) Unsustainable
Portugal’s Debts Are (Also) Unsustainable Everyone seems to be focusing on Greece these days – a country so indebted that it needs even more loans to repay just a fraction of its gigantic credits. Clearly this is unsustainable and something has to give. Even the IMF agrees. But what about the other Southern European countries? Actually, […]
Greece Is Now A Full-Blown Humanitarian Crisis – In 9 Charts
Greece Is Now A Full-Blown Humanitarian Crisis – In 9 Charts The people of Greece are facing further years of economic hardship following a Eurozone agreement over the terms of a third bailout. The deal included more tax rises and spending cuts, despite the Syriza government coming to power promising to end what it described as […]
Greece’s Lesson For Russia
Greece’s Lesson For Russia “Greece’s debt can now only be made sustainable through debt relief measures that go far beyond what Europe has been willing to consider so far.” — International Monetary Fund Greece’s lesson for Russia, and for China and Iran, is to avoid all financial relationships with the West. The West simply cannot […]
Agency to Enslave Greeks Is Established
Agency to Enslave Greeks Is Established Late on Thursday, July 16th, German Economic News headlined “Greece: Debt Restructuring Through the Back Door,” and reported that, “The majority of Greece’s national debt is to be moved in the next three years gradually to the euro bailout fund ESM [European Stability Mechanism], so that the IMF will continue to remain as […]
Greece Surrendered: But to Whom Exactly?
Greece Surrendered: But to Whom Exactly? On July 12, Greece surrendered abjectly and totally. Prime Minister Alexis Tsipras, who had promised to combat the austerity measure that are driving the Greek people to ruin, poverty and suicide, betrayed all his promises, denied the will of the people expressed in the July 5 referendum, and led […]
All Hail Our Banking Overlords!
All Hail Our Banking Overlords! We work for them, plain & simple You really have to be paying attention to see what’s truly going on these days. The keepers of the system, that is the banking elites, now openly control everything — though you’d never know that by listening to the media. Consider this: Eurozone backs […]
The Curse Of The Euro: Money Corrupted, Democracy Busted
The Curse Of The Euro: Money Corrupted, Democracy Busted The preposterous Gong Show in Brussels over the weekend was the financial “Ben Tre” moment for the Euro and ECB. That is, it was the moment when the Germans—–imitating the American military on that ghastly morning in February 1968——set fire to the Eurozone in order to save it. Some day history will […]
