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   | charleshughsmith.blogspot.com / By Charles Hugh Smith / June 17, 2013 Not only is the bail-in a direct theft of depositors’ money, the entire bailout of Cyprus is essentially a wholesale theft of national assets. Here is Part 2 of our comprehensive account of the banking/debt crisis in Cyprus.As noted yesterday, the debt crisis in Cyprus [...] charleshughsmith.blogspot.com / By Charles Hugh Smith / June 16, 2013 I highly recommend this deeply insightful two-part series on the banking/debt crisis in Cyprus. I am privileged to present a comprehensive yet succinct two-part account of the banking/debt crisis in Cyprus, prepared by a knowledgeable resident of that nation. Why do the debt crisis in [...] Euro area GDP growth – six consecutive quarters of contraction acting-man.com / By Pater Tenebrarum / June 11, 2013 Everything’s Fine! French president Francois Hollande has confidently announced that the euro area crisis is ‘over’. What a relief. He probably means to convey that everybody can go back to spending money they don’t [...] goldsilverworlds.com / By Gold Silver Worlds / June 7, 2013 According to the Financial Times, the International Monetary Fund (IMF) has published a report in which it admits miscalculations about Greece’s first €110bn bailout. In particular, their economic forecasts were too optimistic. On top of that, it appears that the IMF wasn’t alone, but that [...] zerohedge.com / By Tyler Durden / May 31, 2013, 20:48 -0400 While the U.S. student loan debt“crisis” might be the primary concern associated with the youth population here, this morning’s dreadful European data confirms that 15-24 year olds around the world are struggling with a more widespread and pressing issue: high unemployment. In 2012, the [...] mybudget360.com / By mybudget360 / May 26, 2013 The personal saving rate in the United States is on a multi-decade decline. Part of this has to do with Americans putting their money into alternative savings vehicles like 401ks and IRAs but a large part of this has to do with Americans simply not saving. Roughly [...] truthingold.com / By truthing / May 8, 2013, 08:38 On a conference call with investors last month, billionaire John Paulson boasted that one of his biggest hedge funds would have been up 15 percent this year –if only he hadn’t owned gold stocks. The wishful computation of returns highlights the challenge for Paulson as he [...] truthingold.com / By truthing / May 3, 2013, 07:31 Gold traders are the most bearish in three years after investors sold a record amount of metal held in exchange-traded products and prices tumbled in a bear market. Twenty analysts surveyed by Bloomberg expect bullion to drop next week, with nine bullish and four neutral, the [...] financialsense.com / By Christopher Quigley / April 2, 2013 Ireland’s President Michael D. Higgins has intervened in an unprecedented manner in the political debate on the euro zone debt debacle. Yesterday he was reported saying that the Euro crisis was a moral crisis as much as an economic one and he [...] wealthwire.com / by Brittany Stepniak / Thursday, May 2nd, 2013 Today’s turbulent financial times are likely to leave you in a world of panic if you have neither money nor health. And it’s hard to get by with just one and not the other. Though I have been blessed with good health [...] truthingold.com / By truthing / May 2, 2013 Gold’s longest winning streak in at least nine decades is poised to end as diminishing trust in the metal’s ability to preserve value spurred a majority of analysts to predict the first annual retreat since 2000. Prices will close the year at $1,550 an ounce, 7.5 percent [...] testosteronepit.com / By Wolf Richter / April 23, 2013, 5:47PM Some prominent Germans have publicly expressed their doubts about the future of the euro. A few politicians have tried to jam anti-euro sound bites edgewise into the evening news. And an anti-euro party, the Alternative for Germany, is forming just in time [...] armstrongeconomics.com / By Martin Armstrong / April 20, 2013 Argentina seized all pensions. The people are getting to the point that all this socialism is really fascism. Those who keep pointing to hyperinflation better start looking in the opposite direction. Economics is like weather – you can die from too much [...] The messy bailout of Cyprus and talk of one for Slovenia have added to uncertainty about the eurozone’s progress in getting out of its debt crisis. telegraph.co.uk / By Martin Strydom and agencies / April 16, 2013 Confidence in the German economy dropped more than expected this month after troubles in Cyprus, Slovenia [...] dailyreckoning.com.au / By Nick Hubble / April 13th, 2013 If you’re sick of hearing about Europe’s economic crisis, you’ve got a long hard slog ahead of you in coming years. The steady stream of good and bad news is ‘hiding the decline’, as climate scientists would say. But the decline continues nonetheless. Countries implementing [...] armstrongeconomics.com / By Martin Armstrong / April 12, 2013 The crisis we face is the collapse of society because those in government have been greedy and lined their pockets with our labor. On average, we are approaching the $3,000 mark per household that will soon be the cost of government pensions. This is a staggering [...] thedailybell.com / By Staff Report / April 11, 2013 Italy and France Pose Grave Risks to Euro Zone, Report Says … The uneven performance of economies using the euro is one of the main reasons for the severity of a debt crisis in which some of the worst affected countries were able to borrow [...] Unemployment in January stood at 27.2pc, up from a revised 25.7pc in December, Greece’s statistics service Elstat said on Thursday. telegraph.co.uk / By Rachel Cooper, and agencies / April 11, 2013 Greece’s unemployment rate scaled a new record in January as the country’s downturn entered a sixth year, with young people among [...] blog.milesfranklin.com / By Andrew Hoffman / April 10th, 2013 NOTHING I observe on this crazy, spinning ball is more ironic than Greece’s political, economic, and social collapse. Universally saluted as the cradle of global civilization, ingenuity, and democracy; it has fallen prey to the very hubris made famous in Greek Tragedies like Oedipus and Antigone… [...] testosteronepit.com / By Wolf Richter / April 9, 2013, 7:11PM In March, six years after inception, the first ECB-organized Eurozone-wide household-wealth survey results were trickling out. But when the Bundesbank refused to publish the German data, insiders leaked the reason: too explosive for the current debt crisis and bailout environment because Italian households were far [...] Support for the single currency was strongest among wealthier individuals and among Green party voters, of whom 88pc backed the euro. Photo: AP telegraph.co.uk / By Rachel Cooper, and agencies / 11:51AM BST 09 Apr 2013 A quarter of Germans would prefer to ditch the euro and return to the Deutschmark, a survey [...] marctomarket.com / By Marc Chandler / April 8, 2013 Correlations in the capital markets often appear unstable and volatile. At times, different considerations are more salient than others, and this is reflected in the shifting correlations. At the same time, this instability impacts investment, as well as hedging decisions. There are three changes in [...] edegrootinsights.blogspot.ca / By Eric De Groot / April 8, 2013 This move would kill two birds with one stone. This move not only provides “hot money” fleeing the consequences of the Sovereign debt crisis abroad another US-based option, but it also supports an ailing real estate market. The real estate market is [...] National Bank of Greece and Eurobank saw their shares tumble by 30pc in early trading on the Athens stock exchange after the Greek central bank said late on Sunday night that the four biggest banks in the country would be recapitalised separately. telegraph.co.uk / By Rachel Cooper / April 8, [...] gold-eagle.com / By Cliff Droke / April 3, 2013 Try as it may, the Federal Reserve can’t seem to patch all the holes in the leaky inner tube that is the U.S. economy. While Fed chief Bernanke is credited for pumping up the deflated tire since 2009, each time he succeeds in patching one hole [...] armstrongeconomics.com / By Martin Armstrong / March 31, 2013 The fact that the German Finance Minister Wolfgang Schaeuble has come out stating that savings accounts within the Eurozone are “safe” claiming that Cyprus was a “special case” and not a template for future rescues, proves that in fact the Eurozone deposits are ABSOLUTELY [...] mauldineconomics.com / By John Mauldin / March 27, 2013 You Can’t Be Serious The Serious Unintended Consequences It Is Time to Break Up the Banks New York, Singapore, and the SIC Conference in California I admit to being surprised by Cyprus. Oh, not the banking crisis or the sovereign debt crisis or the fact [...] bullionbullscanada.com / By Jeff Nielson / Tuesday, 26 March 2013 14:59 The transformation of the mainstream media from “news” to schlock-entertainment is now complete. Witness this headline from Bloomberg News: Saving Cyprus Means Nobody Safe as Europe Breaks Taboo Ooh! “Nobody safe.” “Breaking taboos.” Sounds like an advertising ‘teaser’ from some low-budget horror movie. [...] armstrongeconomics.com / By Martin Armstrong / March 25, 2013 The purpose of the Sovereign Debt Crisis Conference that was filmed for a movie is not to say gee where can I put my money for 10 years and not worry about it. That does not exist. We are facing the meltdown [...] market-ticker.org / By Karl Denninger / March 25, 2013, 10:55 So-called “journalists” who run this sort of tripe deserve to be flogged with a wet noodle; they prove by the day why journalism has become a “dead letter”former profession now bereft of respect. The amount U.S. households have in bank deposits, savings [...] |
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