The global recession which started in Europe, is strengthening led by further declines in the eurozone.
Post Tagged with: "European debt"
Eurozone Steepest Contraction Since June 2009; Unwarranted Hope and Reflections on Panic! Economists Can Neither Think Nor See
Why OMT Cannot Possibly Solve Anything; Monti Warns Italian Unions; Over 200,000 Jobs at Risk; Italy’s Insane Labor Rules
The first structural problem is preposterous labor work rules in Italy, Spain, and Greece. The second structural problem is the ECB and the euro itself. One size interest rate policy cannot possibly work in a mix of cultures and work rules.
Euro as Dodo Bird
We are on the verge of a complete break-down, one that is unavoidable no matter how much political gobbledegook is used to try to convince otherwise.
12 Signs That Spain Is Shifting Gears From Recession To Depression
Financial markets all over the globe are very nervous right now because if the Spanish government ends up asking for a full-blown bailout it could spell the end for the eurozone. There simply is not enough money to do the same kind of thing for Spain that is being done for Greece.
A Eurozone Crash Is Baked In The Cake
Those governments are all bankrupt. But much more serious than financial bankruptcy is their total moral and intellectual bankruptcy. At this point the Europeans are so craven and degraded they deserve to be indentured servants of the Chinese, which they will be.
China, Iran Top Warning Signs of a Global End Game
Economic downshift in China has generated a long rippling effect on many countries and corporations around the world. .. CBO report estimates that the U.S. public debt could reach 200% GDP in 25 years if current tax and spending policies are extended.
EU band-aid won’t stop bleeding to death
The truth is that the financial crisis in Europe has not been cancelled – it has just been put off for a few weeks or a few months.
Global recession could lead to $60 oil
Throw in the fact that it seems everybody (governments as well as consumers) is in debt, nobody has any money, credit issues are becoming increasingly burdensome to deficit financing to artificially stimulate growth via the government intervention route, all these factors are forming a perfect storm for the oil market to face some major headwinds for the next 5 years.
After the Sovereign Debt Crisis Comes the Deleveraging
[M]any nations, after the storm of debt/banking crisis, will need to implement various government austerity programs, and households will commence debt deleveraging–a long and painful process.
Euro Crisis, Deficit Spending, and The Coming NWO
Ultimately, each country has to spend no more than it’s taking in as income. Staying on its current course, the world eventually could be divided into three camps: bankruptcy (aka bailout), credit counseling (aka government austerity and household deleveraging), and debt renegotiation (aka “haircut”). PIIGS are only the beginning.