Over the past couple of months the story keeping many people on the edge of their seats has been the ongoing dilemma of Greece's detested debt burden, its Great Depression-worthy 25% contraction of its economy, and its voluntary or even forced withdrawal from the eurozone – the fabled "Grexit." For about five years now, heavy austerity policies (cutbacks in government … [Read more...]
The largest economy in the world is imploding right in front of our eyes
A devastating economic depression is rapidly spreading across the largest economy in the world. Unemployment is skyrocketing, money is being pulled out of the banks at an astounding rate, bad debts are everywhere and economic activity is slowing down month after month. So who am I talking about? Not the United States - the economy that I am talking about has a GDP that is … [Read more...]
Without growth, there’s only one ending for Euro debt crisis
European voters are rejecting further fiscal restraint, showing the door to former austerity-imposing politicians in Greece and France. In a similar spirit, European Central Bank President Mario Draghi is now calling for a “growth pact” to replace the “fiscal pact” demanded by Angela Merkel’s government in Germany. What Europe’s voters and its central bank are coming to … [Read more...]
How Greece threatens you and how going local offers the only refuge
For months now our stocks have gone up and down due to various concerns, but none more recurrent than concerns about the financial crisis in Greece. Morning after morning, New York City based casino capitalists trade with Greece and the latest rumors from Western Europe on their minds. What will affluent Germany do to bail out the collapsing, debt-ridden country of Greece? … [Read more...]
Where is global growth without the US, Europe and Japan?
It is getting harder and harder to see where tomorrow’s global growth will be coming from. Job creation in the US has come to a screeching halt. Growth in the Eurozone has done the same. And a still irradiating Japanese economy continues to stagnate, while an emerging energy crisis has suddenly sparked plans to start off-shoring manufacturing. You can say all you want about … [Read more...]