“the EU’s bailout-and-borrow policy had taken on a momentum of its own, like a runaway train. That train is now going at maximum speed, and has passed the point where a switch can still be thrown. The only question is when it hits the buffers. My guess is that we are months away.” – MEP Daniel Hannan in The Telegraph. Much the same can be said of the US debt problem.
Post Tagged with: "European financial crisis"
December 18, 2011 19:55
Chart of The Day: The Currency Collapse After A Euro Breakup
All these downgrades and rating warnings are not only putting further pressure on the debt crisis now going on for 2+ year, but is also sharpening the picture of a possible breakup of the Euro Zone.
December 16, 2011 08:13
IMF warns that world risks sliding into a 1930s-style slump
“This is exactly the description of what happened in the 1930s, and what followed is not something we are looking forward to.”
December 16, 2011 08:13
IMF warns that world risks sliding into a 1930s-style slump
“This is exactly the description of what happened in the 1930s, and what followed is not something we are looking forward to.”
December 15, 2011 15:54
We Don’t Like the Future We See
Europe’s financial collapse is the result of extravagant deficit spending and the increased percentage of the population dependent on government handouts, which their people have begun to believe are entitlements. Europe’s cultural collapse is the result of allowing a tsunami immigration of people who will not assimilate into European civilization, will not obey the laws of their adopted country, and stubbornly retain their loyalty to and customs of their native land.
December 15, 2011 15:52
We Don’t Like the Future We See
Europe’s financial collapse is the result of extravagant deficit spending and the increased percentage of the population dependent on government handouts, which their people have begun to believe are entitlements. Europe’s cultural collapse is the result of allowing a tsunami immigration of people who will not assimilate into European civilization, will not obey the laws of their adopted country, and stubbornly retain their loyalty to and customs of their native land.
December 13, 2011 11:40
17 Signs That The European Financial System Is Heading For An Implosion Of Historic Proportions
The easiest way to deal with a debt spiral is to let it keep going and going. That is what the United States has done. Sure, “kicking the can down the road” makes the crisis much worse in the long run, but bringing the pain into the present is not a lot of fun either.
December 13, 2011 08:54
Will Britain abandon the European Titanic?
“you have decided to head off on the Titanic towards economic and democratic disaster and we are now in a lifeboat outside the Titanic, but we’re threatened by a bow wave that is going to come and engulf us if we’re not careful – and it’s retribution – We’ve heard the language of retribution this morning – financial market legislation is going to be imposed upon Britain and we will have no influence whatsoever over any of it.” – Nigel Farage MEP and Co-President of Europe of Freedom and Democracy
December 13, 2011 06:16
Coming Depression Will Lead To The Collapse Of The Euro
“I think the periphery goes into depression. When you look at a country like Greece, it’s now been in recession for three years. GDP is probably down 15% from the top. The stock market is down 90%, which is the equivalent of 1929 to 1932 in the US. This is depression-like. – Business Insider
