The U.S. will not be immune to the downward pressures. In the weakening global environment, exports will drop. Consumers have increased spending by reducing their savings rate as wages continue to stagnate.
Post Tagged with: "Greece"
February 1, 2012 05:09
Germany to take over Greek budget
To bail out Greece Germany is demanding veto power over Greece’s budget. Greece is the result of a socialist welfare state that is the model for the “redistributive” ideology of Barack Obama. Greece is where the US is headed if we continue to keep our heads in the sand about the consequences of a debt that is greater the our entire Gross Domestic Product.
January 11, 2012 09:11
Greek Crisis Has Pharmacists Pleading for Aspirin; Bailout Money Used for Military Spending
The Greek economy is now totally and completely dysfunctional. The government has resorted to price controls on goods to contain costs. However, price controls do nothing but cause shortages. – Mish Shedlock
January 4, 2012 08:21
Eurozone leaders warn that a recession is coming. Yup: and whose fault is that?
The reason that the eurozone faces such hard times is that its leaders have decided to keep the single currency together at any cost. The coming recession is not some inexorable force of nature; it is a consequence of the policies being pursued by Merkozy, Monti, Barroso and the rest. – The Telegraph
January 2, 2012 07:28
You Can’t Solve A Debt Problem With More Debt
Some countries must choose between difficult and very bad, and others are faced with either disaster or calamity. Greece simply gets to choose what it wants to be the cause of a depression. Long and slow or fast and deep? Choose wisely. – Business Insider
December 5, 2011 03:30
6 Horsemen? Central Banks Dollar Liquidity Only Prolongs The Euro Debt Crisis
Until there’s a fundamental and structural change of how government is held accountable for running and managing a nation’s resources, there could be more crises similar to the one in the Euro Zone popping up to the point of one Scary Grandioso–No more spare bailout capacity.
December 1, 2011 12:02
Yesterday’s Stock Market Rally Courtesy of Government Ponzi
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.
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 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 18, 2011 07:10
MEP Hannan on debt bailouts: You cant stave off the hangover by staying drunk
Daniel Hannan in the European Parliament plenary session in Strasbourg, talking about the foolish reinflation of the debt bubble that caused the economic crisis.
