The actions of the Central Banks signal how desperate the situation is. Nothing was done to help Greece, Spain or the other insolvent European sovereigns. Yesterday was an attempt to keep the dysfunctional world financial system going awhile longer.
Post Tagged with: "European financial crisis"
November 30, 2011 13:53
US to bail out Europe because Germans refuse
Inflation will destroy US savings and purchasing power but the Fed and Obama have decided that is a an ok price to pay to bail out Europeans. Obama is desperate to keep the economy from tanking any further before the 2012 election.
November 30, 2011 06:49
Euro-Crisis is Much Worse Than It Looks
This incredibly contractionary monetary “policy” began sometime earlier this year and is continuing to accelerate. I put policy in scare quotes because there is no policy as such there is simply contraction.
November 30, 2011 05:58
EU entering ‘critical period’ to resolve debt crisis
[A] top official said the region had just days to take decisive action to resolve the crisis. – BBC
November 29, 2011 10:18
Flatout collapse of Euro – hyper depression
Europe’s demise is actually propping up the US economy. As Obama’s Debt Commission co-chair Erskine Bowles said the US economy is “the best lookin’ horse in the glue factory.”
November 29, 2011 08:14
Cramer: Europe could obliterate whatever good is happening here
“They are in the nuclear blast zone in Europe. They are in it bad. The blast zone of Europe is a nightmare. That’s why their problems could impact us. Europe’s credit crisis is so big it could easily wash up on our shores, easily”
November 28, 2011 07:12
Italy Is Closer To Collapse Than Anyone Realized, And So Is The World
If Italy can’t make it, then there will be a very big crashing sound. It would end up taking out most of the global lenders, a fair number of countries would follow into Italy’s vortex. In my opinion a default by Italy is certain to bring a global depression; one that would take many years to crawl out of.
November 28, 2011 06:12
European MEP calls for lower taxes, less regulation for growth
Where have we heard that before? The message is the same everywhere. Central planning and control does not work. Socialism is dead. You eventually run out of other peoples’ money to buy votes.
November 28, 2011 05:50
OECD warns of European recession
For the eurozone, the OECD’s predictions are -1% this quarter, and -0.4% next. The group also revised down its forecast for global economic growth to 3.8% this year and 3.4% next year. – BBC
November 28, 2011 03:30
Euro Bond: Europe’s Only Way Out For Now
[S]ome economists believe that the outright collapse of the Euro could reduce GDP in its member-states by up to half and trigger mass unemployment, which could lead to widespread civil unrest and property losses. In that scenario, a recession/depression in Europe and the world would be closer to a probability of 100%.
